AN ANNUAL MAGAZINE OF VOLUME IX 2013 Sector 5, Rohini, Delhi

ELDORADOEXPLORING NEW HORIZONS...

MONEYMONEY MAKESMAKES THETHE WORLDWORLD GOGO ROUNDROUND “Excellence endeavors those who wish to seek thought provoking knowledge at every step in their lives”.

Established in 1993, JIMS had the vision of becoming a B-school of excellence with holistic academic inputs and had articulated the desire to excel in order to achieve an extraordinary future for its students. 20 years have seen JIMS carving a niche in Management and Technical Education. It has now broadened its horizons and has grown in terms of ■ Students ■ Faculty ■ Staff ■ Alumni ■ Corporate networks The challenge put forth was to promise quality education where the resources deliver employable management students. We have succeeded in doing so through a complete transformation by the aid of our experienced faculty, modern style teaching methodology, universally accredited educational patterns and an industry relevant curriculum. The conviction of the faculty and the determination of the students have made us achieve 20 years of excellence becoming a people centric organization that runs on the basic principle of customer satisfaction, high quality delivery & over all honesty & transparency in the functions. Innovation is the basis of survival for anybody, and is the root cause for any change in the society. The innovation that we did at JIMS was that each student was worked upon individually & made to achieve what the companies desired & not what we thought was good for them. Our industry associations have grown by leaps and bounds where many reputed organizations have associated with us. Prominent people from these organizations are a part of our network and we move towards creating a niche in this professional cadre. Our Alumni are present in all parts of the world, which have been holistically working towards empowering several organizations and are enjoying success at various global platforms. We plan our future strategies keeping in mind the expectation, competency, environment & acts which have become time driven & need based.

On this occasion, we renew our commitment to uplift the standards of professional education. ELDORADO | 2013 foreword 1

AN ANNUAL MAGAZINE OF Sector-5, Rohini, Delhi ELDORADO EXPLORING NEW HORIZONS

Chief Mentor Manish Gupta

Editor Mansi Arora Madan

Editorial Team Manisha Sharma Juhi Aggarwal Indrani Deb Vidhu Sharma NotNot whatwhat

2013 Copyright © Jagan Institute of it used to be Management Studies it used to be

Great care has been taken in the compilation and validation of information, and every effort has been made to ensure that all information is up-to-date at the time of going to press.The “I realized the exact meaning of money when I had to visit US and some other countries publishers are not responsible for andIdidnotbuythedollarintime” errors, if any, and their consequences. Today the value of money had changed.Why? We know that money, our measure of

The publishers would be happy value,does not have a constant value.The value of money may change over time or across to receive suggestions and space, from one currency zone to another. At one end, every day the bulls and bears are corrections for inclusion in the next edition. Please write in to: pushing each other in the stock like never before. At the other end, the mutual fund Eldorado. managers are busy in reaping astounding returns from the ongoing longest and Jagan Institute of Management Studies, No. 3, Institutional Area, strongest bull mania in Indian history.Fluctuations in currency value are a common event Sector-5, Rohini, New Delhi- and economies are competing against each other to maximise their value of money.We 110085 or email [email protected] are no longer living in disjunction, our needs and requirements are dependent on how we transact today. Global expansions and progress in all parts of the world best depicts All rights reserved with thechangeintrendofinvestingmoney. Jagan Institute of Management Studies. Investorsshouldbealerttothelongterminflationarythrust.Parkingfundsindifferent Reproduction, in whole or forms of cash, assets and at some point in future into risk assets – stocks, corporate and part, without written high yield bonds – must be recognized to create a varied portfolio. Its best known to us permission of the publisher that “Investing Money is Securing yourself”. So, if you learn to plan your earnings today, is prohibited. Infringement peopleshalltomorrowcallyou“Moneywise”. of any of the above conditions can lead to civil and criminal prosecutions.

Printed and published by Jagan Manish Gupta Institute of Management Studies, (Chairman) No. 3, Institutional Area, Sector-5, Rohini, New Delhi-110085: at Images and Impressions, Ansari Road, Daryaganj, New Delhi-110002 Editor: Mansi Arora Volume No: 9 Issue No. 1 2 ELDORADO | 2013 contents

There is no free lunch in economics. schools, or hospitals, do not reflect Where The Government’s usual sources of immaculate use of tax money. revenues are taxes, borrowing, and Although we cannot deny that taxes inflation, each of which comes with its are important for existence of any does our own merits and demerits. government, but to make sure that they It’s ironic that Mahatma Gandhi’s are utilized in the desired direction, it is money go? famous Dandi March was held in required that we leave our complacency protest against an unfair tax; however, and start thinking in our own benefit we have more taxes today than ever before we elect and select the govt. before. Is the government even giving Departing at this thought, the magazine us more services or better services than shall bring about various facets of before, or is it just more burden? money to make you understand the Most taxes today are far more lyrics of a popular Broadway show, draconian. Sit down sometime and “Money makes the world go around, the calculate what percentage of your world go around, the world go around. income goes into direct taxes, if you “Amark, a yen, a buck or a pound, a include indirect tax—it would seem that buck or a pound, a buck or a pound. Is until the end of April every year, you are all that makes the world go around, that effectively earning for the government. clinking clanking sound can make the Usually, taxes are insufficient to world go ’round?” cover expenditures. For instance, in Mansi Arora Madan India, poorly maintained roads, public Editor, Eldorado Asst. Professor, JIMS

CONTENTS 2013 39 4 Captalism is here to Stay 7 Decoding Inflation 9 Money makes the world go round 12 The Money Trade 14 The Weakening Rupee 16 Means to an End 18 Dream Big 19 Rented Media

7 ELDORADO | 2013 contents 3 14 19

20 The new Age Individual Challenge 22 Beggary as a Business in India 24 Indian Healthcare - Commercialized 20 26 Money: A Radioactive Compound 28 Evolution to Revolution 30 The closer you get to Money, The farther you move away from happiness 31 Money... a stupid commodity! 32 Money Multipliers 34 Money and its Impact 35 The Big Fat Indian Wedding 37 Urge to splurge... 39 Were we happier without money? 42 Real Time marketing for Real Time World 45 PEPSI IPL: It's All about Money 48 Automated HR - Extracting the Most 50 TOYOTA 100 Cars for good 37 51 Business Quiz?

9 12 4 ELDORADO | 2013 faculty

IS HERE TO STAY

gene-banks, germplasm of ord Krishna has said Capitalism makes

in the Bhagwad Gita, endangered species is stored ‘‘

“The best way to so that it can be used to people unequally

JITESH MOHNOT predictL the future is to invent increase the population of Asst. Prof-JIMS rich but socialism it”. But for invention or the said species before they ‘ makes them ‘ innovation, resources needs become extinct. This to be deployed and as capitalist world. But in my innovation has proved to be equally poor resources comes at a cost, opinion, capitalism has a boon to counter the efficiency is of paramount inbuilt mechanisms to harmful effects of global economies in general and importance. Moreover, eliminate this dichotomy if warming on our ecological communist regimes in financial resources needed they are explored during the balance. particular have failed in the for the developmental course of innovation. But one may argue that last century to achieve these innovations can only come Countries, organizations and innovations have even three 3E’s. At the same time, when surpluses are individuals time and again happened in socialist capitalist economies have generated within a system. have proved that it is societies and what good or largely succeeded in As both efficiency & possible to come out with better can capitalism bring to achieving the same 3E’s in surpluses are the hallmarks fruitful innovations for the the table. Well, to my mind many innovations. of capitalism, it can prove to welfare of not only humans the biggest advantage of Thomas Friedman in his be a boon for emerging but also flora and fauna capitalism starts where book ‘The World is flat’ has nations like India. around us. X-ray machine is socialist strategy ends. quoted that “Capitalism one classic example among Innovation per se is not makes people unequally Ecosystem Approach others like gene-banks. In enough. Mass production rich but socialism makes Innovations, if done and last mile distribution of them equally poor”. What cautiously, can lead to the any innovation brings The biggest he means from the above

world where flora & fauna ‘ down its cost and makes it ‘ advantage of statement is that any can peacefully coexist. But affordable to the masses.

political & economical generally intelligentsia has capitalism starts This cannot happen without ‘ ideology has some or the always believed that ‘ three E’s – Execution, where socialist other flaw but one has to innovation and caution are Efficiency and choose the ideology with always at loggerheads in the strategy ends Effectiveness. Most socialist least number of them. ELDORADO | 2013 faculty 5

The advantage with governments failed to capitalism is that it creates deploy them effectively to surpluses whereas the bridge inequalities. This disadvantage is that the happened despite surpluses. inequalities arise as a It is where socialism actually byproduct. Now the failed but capitalism was question is how does one blamed. solve this critical dichotomy On the other hand in capitalism? What are the countries that followed only rules of the road to be socialism in all sectors failed followed by a country while to generate surpluses or adopting capitalism? Which profits at all. And since there countries have succeeded were no surpluses, there was and what lessons can be no question of deploying learnt from them? The them. It made people following paragraphs try to equally poor including Obama’s first presidential sustainable average GDP answer that through cases & government. The classic election campaign included growth of 5% plus for more examples. example is China of 1950s to the same issue among others than one or two decades are Brazil is the number one 1970’s. Mao Zedong and after coming to office, he numerous. But if we were to commodity exporter to the implemented strategies tried and ever succeeded to a find out that how many world which has resulted in which were later called certain extent in reforming countries have shown more creating a lot of surpluses for Maoism. It resulted in a lot healthcare sector. Healthcare than 5% growth on an the state. But as it was done of chaos and also millions of sector is very different average for four decades under the ambit of people getting into poverty because by adopting only then there are only seven capitalism, the by product and even dying. In 1978, capitalism, it becomes countries, all deploying was the rising inequality in Deng Xiaoping reformed unaffordable for the masses. capitalism in some or the Brazil. So the Government of China & brought elements of China on the other hand other way.. Brazil launched a welfare Capitalism in China, has embraced capitalism in If I were to go further, program called Bolsa familia especially in manufacturing manufacturing and there are only two countries for the destitute & the needy. resulting in huge surpluses surpluses out of which it which had an average of 5% It is the most successful year on year till date. These have been used in healthcare GDP growth rate (in real welfare program in the surpluses were reinvested sector which is almost terms) for five decades. All modern history of the world. partly in industrial sector completely government other countries have missed But it was only possible and partly in social welfare funded (public sector one or more decades in through the surpluses which is the key objective of owned). terms of incremental growth created by the commodity a socialist state like China. that produces new jobs. The industry. The rule of the So a socialist state succeeded Another rule of the two countries are Taiwan & road is that surpluses when companies made road: Profits are South Korea. Both follow garnered through profits, when workers were capitalism, but then where capitalism can be used in important… efficient & highly have they failed? The social sectors to bridge Surpluses come from profits immediate answer from the inequality. The caveat is that & profits ensure socialist school would be principles of socialism rather sustainability. Taking it ‘ The rule of the further, sustainability gives Human Development. The ‘ than capitalism should be road is that reason for the failure of these applied in social sectors. security to workers resulting two and many other surpluses Therefore we see that a in welfare. So these three S’s countries in the area of garnered through healthy mix of both – Surpluses, Sustainability

human development has ideologies can co-exist in a and Security are critical and capitalism can be

been that profit & surpluses country. USA did a big important fruits of used in social were not deployed properly ‘ mistake by adopting only capitalism. However, ‘ in social sectors. Industry’s sectors to bridge capitalism even in sectors socialist may disagree. But job was to create surpluses, inequality. like health. Today, healthcare data reveals the story. which they did, but sector of USA is in big mess. Countries that had 6 ELDORADO | 2013 faculty

after Russia & Malaysia. The (outward FDI) to avoid the same ratio is very low in problems of doing business China & Brazil. This factor in the home market. coupled with a lot of Moreover, in countries holdovers at the top shows like Russia, there are plenty that the churn at the top is of excesses undertaken by much lower in India. It is the billionaires like mushroom same side effect of capitalism picking on weekends by that Thomas Friedman helicopter, and other signs of talked about: Capitalism gaudiness like ten-thousand- makes people unequally dollar champagne bottles. rich. Government of India by Fortunately, in India we pushing bolder reforms can don’t see this phenomenon stop this phenomenon. of that level, but it can Historically, whenever change very soon. The productive. These steps were commodity industry based governments have brought ultimate aim of any business nothing but deploying on sweetheart deals with the fundamental & holistic should be to expand & create principles of capitalism in a government. reforms, it has resulted in demand in a way that communist state. The good sign is when new set of people becoming increases not only output, the billionaires come from Rising number of richer because of the but also jobs as well as new industries like retail, e- untapped entrepreneurial productivity. It is then, that billionaires: Who are business, media, etc. energy getting unleashed in surpluses gives way to they actually & how Moreover, in emerging the new productive sectors sustainability. did they become one? markets like India, the list of and also diminishing

This is yet another rule of the top billionaires does not government patronage. road to judge whether change as fast as in China. They say Money Where do billionaires ‘ ‘ The billionaires should face ‘ ‘ capitalism in a country has talks and wealth competition and turnover at spend money? been truly successful. One of whispers the features of inequality is the top. China’s top ten lists They say Money talks and that it creates a lot of over the years show a lot of wealth whispers. But turnover, with names falling unfortunately it is not so billionaires in a country. Is it It is this safeguard of off or coming on all the time. with all the super-rich good or bad? The jury is out proper consumption & Whereas in India nine out of people. The rule of the road on this. The rule of the road investment in a capitalist the top ten Indian is that always watch out for is to analyze the source of society which makes the billionaires on the 2010 the ways in which surpluses the new billionaires. It is balance between the 3S’s Forbes list are holdovers are used by billionaires. always a good sign if the proper thereby resulting in from the 2006 list, while the It is worrying sign when number of billionaires in a prosperity. Crony capitalism 2006 list hand only five billionaires go for excesses particular country is is a cancer that undermines holdovers. This is a like buying super luxurious increasing. But there is a competition and slows down worrying issue. Creative mansions in the Middle East catch in this growing economic growth, thereby destruction lies at the heart rather than opening a new number of billionaires. If the unbalancing the 3S of the capitalist society. plant in one’s own country. new billionaires are coming equilibrium of Surpluses, Number of billionaires Here the govt. is also at from sectors with Sustainability and Security. should rise but their fault. At a time when Indian government patronage, Philosophy of capitalism, if growing number rather than companies are expanding rather than productive new followed with proper the increase in total abroad, it is not a sign of industries, then it’s a safeguards, can create the accumulated net worth of celebration but concern. problematic sign. platform for government to the same set of billionaires is Why are many companies Government patronage as in undertake social reforms. a better indicator. Total net going abroad? In India, it is Russia is nothing but Brazil has shown the way, worth asa%ofGDPofthe happening because domestic socialism in a different will India follow? avatar. In Russia, most of the billionaires is very high in economy is not doing well. billionaires are oil oligarchs, India as per IMF. It is only So the surpluses fly to which is a conventional third in the world at 17.2% foreign destinations ELDORADO | 2013 faculty 7 DecodingDecoding Inflation

ANUDEEP ARORA Asst. Professor – JIMS

understand it. If we go back 30 years and buy a Maruti car, we would have paid Rs. do not want to tell you 47,500 at that time. Now lets the value of money. us compare this price with IEveryone knows it. current price of Maruti 800. What I really want to discuss Its price today is Rs. 2,50,000. is how the value of money Why should we shell out changes over time. This more money now? The changes to the car) to pay me back 8.9% on Rs. 100 seems to be a simple topic answer is simple because Rs Rs. 47,500 we paid 30 years which is Rs. 8.9 and Rs. 100. but I am convinced many do 2,50,000 today is equivalent back. This is a discovery I will again put this Rs. 100 + not acknowledge it. Let us to (assuming that there moment for some of us. Rs. 8.9 = Rs. 108.9 in your take an example to aren’t too many feature India’s inflation averaged pocket. You will pay me around 8.9% since 1983 so back Rs. 9.69 and Rs. 108.9. we will consider inflation as I will do this again 28 more 8.9% for this article. How times. At the end of this much money after 30 years exercise, you will pay me will be equal to Rs. 47,500? Rs. 1282. If I compare, I have To calculate this we need to 12.82 times of original understand the concept of money. What I just did is compounding. applied inflation to Rs.100 We will do simple math and it became Rs. 1282. here to understand Rs. 100 after 30 years is compounding. I will put 100 equal to Rs. 1282. This Rs in your pocket and you means that Rs 47,500 is equal will pay me 8.9% interest to Rs 47,500 x 12.82 = Rs. every time I do that. You will 6,08,950. Maruti 800 should 8 ELDORADO | 2013 faculty

be sold at this price. Infact, the value of money by 50%. you know by how much? price of commodities. The we are getting a discount In simple words, more price of the commodity when we buy it at Rs. money is running after same Inflation and depends on what people are 2,50,000 as compared to the goods, the value of money Consumer Price Index ready to pay for it and its person who bought it in reduces. Let’s understand (CPI) demand in the market. If 1983. This is surprising! It is this a bit more. For this we need to know you have more money in a different story that Maruti Long ago, paper money consumer price index (CPI). your pocket, you will pay 800 was introduced in 1983 was invented to replace gold It is the price of basket of more. Similarily, this and reached its maximum as a currency for goods used on daily basis happens for all commodities. sales of 25000 cars per month government. Gold was such as wheat, milk, Government controls the in 2003. limited and it put footwear etc. Now let’s price of basic commodities Why is Maruti selling at a restrictions on government assume this index was 100 in so that it does not effect discount is a topic for some spend. Government decided 1983. After 30 years, it has people at large. You can see other time. The reason we to replace gold with paper. changed to 1282. The graph crude oil prices rising across took this example was to With paper money, below shows how it has the world but in India we do understand change in value government can run their changed from Jan, 1983 to not see similar increase in of money over time. I will printing press and generate Feb, 2013. This means that a price. Recently, government explain more about inflation instant cash. They kept on person who was earning Rs. decided to increase prices of through concept of money buying gold and start paying 100 in 1983 should be petrol and diesel to supply and change in in paper money. This earning Rs. 1282 to buy the accommodate the changes. consumer price index (CPI). increased the supply of same amount of goods. Here government has money in the economy. Now, If you buy apple for Rs. 4 subsidized the prices of Inflation and Money everyone has more money. in 1983 then it should be Rs. petrol and diesel and it pays Supply Imagine you and I are in an 4*12.82 = Rs 51 now. The for the difference to reduce Does it mean that 1 Rs. today auction, we want to buy annual change in CPI is the price for people. It pays do not have same apples and we both have Rs. called inflation. I think you thousands of crores for the purchasing power which 50 with us. We will bid till have understood it well that difference. That’s why it is was 30 years back? Yes, the we reach Rs. 50 to get those how value of money is important that a country value of 1 Rs. has apples. Now the government changing. If you borrow Rs. imports less and do more eroded/reduced over the comes in and gives Rs. 50 100 in 1983 and somebody production domestically to period of time. The culprit is more to each of us. Now we pays you back Rs. 1282 after ensure controlled prices for inflation. We normally talk will bid till we reach Rs. 100 30 years then there is no its citizens. about inflation on the to buy the same thing. This change in your wealth. This Whether it is on account economy level. It’s not about is how prices of goods means that if someone is of an unexpected rise in food money but its value. Let’s increase because of change paying you an interest of prices or due to a surge in say the economy has Rs. 100 in supply of money in the 8.9% is essentially returning the prices of non-food in it. RBI adds Rs. 100 in the economy. you the original money after manufactured products or a economy. Total money in Let’s see a more common 30 years. Why so? Think combination of several economy becomes Rs. 200. example of commodity. The about it. factors, inflation will always Now we have twice the price of commodities such as To make it simple, lets been in the news. amount of money to buy the potato, onion, apple etc. has say we do not know the same things. This reduces also changed over time. Do ELDORADO | 2013 cover story 9 Money makes the world go

MANSI ARORA MADAN ROUND Asst. Prof.- Management happened to see a TV Neil Patel is the co-founder Journal, but he was also common goal for everybody. show where a 20- of 2 Internet companies: named one of the top Money is regarded as something girl wakes up Crazy Egg and KISSmetrics. entrepreneurs in the nation omnipotent by a few people, withI no coffee, no friends, no Through his entrepreneurial by Entrepreneur Magazine. particularly by the poor. As mobile and definitely no career he has helped large For most people in our whatever one does not parties! Instead, she is corporations such as modern-capitalism world, possess, one aspires it badly, making ends meet with “Beg Amazon, AOL, GM, HP and money is the first thing, and and it becomes mono aim of Borrow Steal” on the Viacom make more money sometimes the only thing achievement. adventurous trails in the from the web, he states that, that measures success in There were times, when heartland of India. With her in order to make a quick their life. Money can buy we valued a person of his bags packed and her goal buck, it is important to love power. Money can buy fame. moral and ethical values. set, she is all ready to what you are doing. By the Money can buy time. People were earlier known explore the Heart of age of 21 not only was he Sometimes money can even for keeping their words, for Incredible India! named one of the top buy a life. So money has donating everything to a That's why I decided to influencers on the web become the donee. Now people are research that topic a little. according to first known in terms of their But then, how do you the Wall ranking in the list of rich of evaluate the worth of Street the world. Money has something that in itself become the centre of all defines worth, at least activities. For the rich, commercially? Is money a money is the exception to capitalist weapon for law of marginal utility, exploitation? or The most where they are still tactile evaluation and craving to earn more reward of our and more, with fair or capabilities? foul means. Money Perhaps it's only and muscle power fair that we begin have become with one of the few essential people who ingredients of a actually successful leader. championed Not only has money and its the worth of philosophical and money changed, ethical worth. but also the A man recognized importance. as a top 100 entrepreneur under the age of 30 by President Obama, 10 ELDORADO | 2013 cover story

Money is one of the most really want even to go to proper way, the scenerio of provide something to important things in our lives. every expedient. Our society our country would have bequeath to future Even if we haven't noticed is run by money and the love been completely different. generations….and so on. yet, living without it would of money. Money can be Can one purchase Sometimes the same person be literally inconceivable. acquired in many ways. anything with the power of may view money differently What makes money that Most people will work or money? in different situations. The popular, though? create a business to When it comes to our bottom line is that we each Nowadays you need money accumulate and increase the finances, each of us has our have our own relationship for your whole life; for amount of money they have. own individual approach. with money, and our own clothes, for food, for a shelter In obsession people might Some of us are savers, some conscious and subconscious and even water costs.. It is pawn their expensive are spenders, and others are needs for money, rooted in the money which gives man, accessories to obtain instant somewhere in between. our value systems and confidence, creditworthi- money which has led many This continuum is a cumulative life experiences. ness, credentials, capacity, people in our society in a paradigm that our popular Health, Wealth, and capabilities and courage. But wrong direction, pursuing culture uses to frame Relationships. These are would you be happy one thing, fortune and glory. differences in the way linked together as a part of a without any penny? Since India has seen thousands people approach money. system.They're all money is a large part of our of crores rupees scams every For others, money is connected, and to the extent life, you need at least little now and then, now the total something that is a part of one is strengthened, the money to be happy. scam money exceeds about their lives but rarely on their others will be strengthened The importance of money 73 lakh crore rupees. The mind, regardless of the role as well. If one is weakened, has become so indispensable amount itself explains the it actually plays. For yet the others will be weakened to live, that you could not situation of corruption in others, money is an survive without it. In our India. Most of this scam obsession, as accumulation society these 'objects' have a money comes from politics signifies achievement. Some Can one cost to them, it can be an and politicians of the people view money as purchase emotional or physical cost, country. The money which analogous to insurance, or a but the cost usually has a was actually meant to be defensive resource to protect anything currency sign attached. utilised in public interest is against future setbacks. with the Many people, because of now an integral part of bank Some people want money to their desires to have more accounts of politicians. If this provide a good home….or to power of money will do anything, whopping amount would contribute to the ability to they will acquire what they have been executed in have certain hobbies….or to money? ELDORADO | 2013 cover story 11

as well. Beyond basic much more sophisticated value as the years pass. survival, money gives you than previous generations, Treat it big. Human the opportunity to live a largely because they are brains love surprises. Add healthier life, with the time exposed to adult issues and sheen to simple things, the and means to have more desires at younger and happiness impact of treats positive relationships. The younger ages. Today, parents can be amplified if they are more money you have, on voluntarily step in to spare produced using multiple balance, the less stressed you their children a financial things. are about it, and more time struggle, or they are Buy time. Having more you have to do other things, unwittingly being used as a time is a form of wealth that such as cultivate true, cash machine, parental can be used to "buy" more in a way that connects them genuine relationships that financial support of adult happiness. It's literally to other people they care aren't based on money. children has created a new possible to buy more time by about. Money is but a component in cash-dependent generation. spending money on time- Turning the money you the system.Circular, Shifting from buying saving products and spend into happy money is perhaps…yet very stuff to buying experiences, services. hardly an automatic process. symbiotic. and from spending on Buy now, pay later. We have lots of inflexible "If money doesn't make yourself to spending on That's one major reason spending requirements and you happy, you probably others, can have a dramatic credit cards are so alluring; habits and think things such aren't spending it right". impact on happiness. A they separate the purchase as fancy homes and cars that Our old cultural saying: happy money is found at from the pain and turns the bring us happiness. So, “Money can't buy you Five well known addresses. actual purchase into Happy Spending…! happiness” may hold true Shop to buy experiences. something our brains regard up to few decades ago, but A memorable trip takes on as being free. for today's generation for even more luster with the Spending on people you entering adulthood don't passage of time. Even an care, can provide the biggest seem to apply anymore. unpleasant adventure may happiness bang for the buck Young adults today seem so produce stories that grow in when people invest in others 12 ELDORADO | 2013 finance section

SUBHRADIP DAS The Money Trade PGDM (2012-14)

hat really comes economical, etc. But how Florence and Genoa also ship owners looked for to your mind were these stock markets started issuing bond for investors who would invest Wwhen someone created? meeting the expenditure of in such voyage and In case asks you about stock The history of stock warfare. This is said to be the of profit or loss he will be markets? The answer can be markets dates back to 1100s first introduction of bond only liable for his portion of anything from simple equity in Republic of Venice. market. investment. This encouraged trading to BSE in Dalal Money was required for the The first stock exchange for more issue of share for Street, Mumbai to market purpose of war, the came into existence in 1531 larger fleet and bigger professionals giving their authorities raised loans from in Antwerp, Belgium. voyage and thus more profit. expert analysis on stocks to citizen at 5% interest rates Brokers mostly traded in These were considered to be various events that affect the and for indefinite period. promissory notes and bonds. the first modern joint stock stock market to receiving Such debts were known as There was no concept of companies. These companies dividends. Stock market is 'prestiti' and became stock till then as such. In also used to pay dividends something that cannot be valuable investment which 1600s East India Company from the profits of the explained in a single night could be bought and sold. started trading in East Indies voyage. nor can it be understood by The authorities never faulted and Asia. Sea voyages were There were no stock reading some books. It in payment of such interest quite risky because of exchanges at that point of depends on factors such as so the credibility or demand pirates, weather condition time so these stocks were political, environmental, for such instruments and poor navigation. In traded in various coffee social, technological, increased. Seeing this, order to lessen these risks, shops around London and ELDORADO | 2013 finance section 13

is the place where people promoters are selling off have made money; it is the their shares in the market, it place where people have lost means that they are not it all. So how does it work or confident of their own share, how do share prices then how can the investors fluctuate. It is all about have confidence in such speculation. shares. So they also started Let's take a recent selling it. Thus prices fell. example of the three big oil It's all about speculation. companies Indian Oil, How investors perceive is Bharat Petroleum and the key. An investor can mint Hindustan Petroleum. The money in two ways:- price of these companies • By the way dividend. the news regarding the when SSC failed to pay the rose because of the fact that • By the change in price of stocks were pasted on the dividends from their meager there was a rise of 10paisa in the shares. shop's door. When investors profit. the diesel price by started getting huge The first stock exchange dividends others also was Philadelphia stock wanted to invest in these exchange followed by New kinds of shares. There was York stock exchange. New increased issue of shares York stock exchange without any rules and expanded with the regulation. The South Seas expansion of US economy. Company started with Bombay Stock Exchange charter from the king and its started in 1876 with 5000 share was sold as soon as it company listed under it and was listed. The SSC used this NSE got operational from money to open stock 1995. Latest to join is the exchanges in London. MCX-SX from 9thFEB,2013. Seeing this, every MCX earlier used to trade in businessman tried to raise commodities but now it has capital out of issue of share, started trading in equities as even for vegetable business well. government which But every good thing has and the best part- is that the Stock exchange is a ultimately will improve the a bad side. In a globalised shares got sold. But glamorous subject. Money bottom-line for these three world an event in one ultimately the bubble burst flows day in and day out. It companies, resulting in country will have an effect in higher dividend. The other countries. On 21st Feb, stakeholders speculated this 2013 Sensex fell 300 points and demanded their shares after minutes of Federal's more. When demand is latest meeting release greater than its supply, the indicated that it might cut price obviously increases. back purchases of US The 10paisa increase treasuries or so called necessarily did not mean Quantitative Easing for the that there will also be an fear of escalating inflation. A increase in profitability. This week later Sensex again fell was just a perception of the almost 315 points to 19015 investors. on a fear that Electoral The promoters HDIL deadlock in Italy might recently sold a portion of reignite the EU's debt crisis. their holdings in the market While an investor may which resulted in a fall in earn a fortune on the stock market price of its share. market, others may lose it Why? The investors all. speculated or thought if 14 ELDORADO | 2013 finance section

YOGESH KUMAR PANDEY The PGDM (2012-14) Weakening Rupee

t is generally believed Country's currency is price inelastic. So our The foreign exchange market that Europe's economic weakness could be a boon to trade deficit will get further is very big to be controlled Icrisis, growing import exporters, because they widened. The oil companies by any central bank. The bill, external debt amounting benefit from weak rupee. will raise prices of petroleum Reserve Bank of India (RBI) to nearly 20 billion US However, falling rupee is products, spoiling the tries to arrest the rupee dollars maturing in 2012 are making life difficult for the budget of the middle class. movement by asking state- all putting pressure on commoners, as falling rupee Already fleeced due to owned banks to buy rupee already stressed rupee. is making imports dearer, inflation, the common man in the forex market. But, this It is generally believed especially the petro will get further hit with this. provides only temporary that to prevent the products, fuelling inflation. Depreciating rupee may relief. tremendous upheaval in the Weakening of rupee means cause our raw material and Fiscal deficit of a country exchange rate, central bank more rupees to be paid per metal imports to become is an important factor that could play an important dollar of imports. even more expensive; hiking drives the currency of that role. But Reserve Bank of Each year the country the production cost for nation. Higher deficit means India has been avoiding spends nearly 140 billion industries. the government will have to intervening in recent foreign dollars on import of crude The movement of rupee pay more and also print exchange upheaval. Reserve oil, which means with depends on several factors. more rupee notes. This Bank says that its depreciation of rupee by 25 The important ones being would result in excess intervention can cause more per cent, the country would the interest rate regime, supply of rupee in the harm. be shedding more for its fiscal deficit, export and market, leading to inflation imports of crude oil, which foreign investment in India. and reduction in its value. ELDORADO | 2013 finance section 15

Similarly, current account As far as impact of weak goods and services to the US spread over several years. deficit (CAD), which rupee is concerned, first, a are the main beneficiaries of When the rupee depreciates, represents the net of import weak rupee would push up depreciation of the Indian these companies have to and export, results in more the fiscal deficit further. rupee. They receive their shell out more rupees to obligations for the country to India imports around 70% of revenue in US dollars meet their payment make its payments in foreign its requirement of crude oil whereas their major expense obligations. Those which are currency. and the government will is in the Indian rupee. With planning to set-up a new General Anti-Avoidance have to pay more for it in rupee depreciation, their machinery at this point of Rule (GAAR) proposed by rupee terms. Due to the rupee-denominated revenue time would be the worst hit. the government has been control on oil prices, the will continue to grow even Companies in telecom, termed as negative for FIIs government may not be able though there is no change in power and infrastructure are investing in India, through to pass on the high prices to expense. Information the likely target of this companies in Mauritius. The the consumers. This strains Technology (IT) is one such category. rule, if implemented, is its finances and leads to an sector, which receives more Thus weak Rupee is likely to burden FIIs with increase in fiscal deficit. than half of its revenue from affecting almost all the more tax, thereby reducing Also, higher oil prices would the US. sectors of the economy. the net profit. Foreign also push up inflation, which The sectors that use Gradually with more global companies may reduce their is perilously close to the heavy machineries usually linkages, effect of exchange investments in India. double-digit mark. import them from outside rate movements will be more Obviously, this would lower Companies will also have to India. These items are very acute on different sectors. the demand for the Indian pay more in rupee terms for expensive and require a Therefore stability in rupee and weaken it further. their raw materials, despite huge amount of initial cash exchange rate is essential for The current crisis in the Euro the fall in global commodity outflow. Typically, stability in economy and this zone may make investors prices, due to a depreciating companies borrow in foreign stability will not be assured more risk-averse. As a result, rupee. More importantly, a currency, also known as ECB by buying and selling of they may reduce their asset weak rupee could negatively (external commercial dollars by RBI but by stable exposure from emerging impact FII flows into the borrowing) to finance their growth of both export and economies like India, Indian markets. investments. The interest import based industries of thereby selling more rupees. Companies which export and principal repayment is the country. 16 ELDORADO | 2013 finance section

MOHIT NENWANI Means to anEnd PGDM-(2011-13)

rey, would be the colour of India’s macro-economic environment,G if it were to be assigned one today. Foreign institutional investors sold Rs. 11,300 crore worth of Indian debt in about 10 days. This contributed heavily in the slide of the Indian Rupee to a record low of 59.98 against the dollar (may hit a new low by the time you read this). Expensive imports, on account of the continuing downhill ride of the currency, had an adverse impact on the country’s current account deficit which reached an alarming level of 6.7% of GDP. In an attempt to bring some method to madness, the Indian government, among the few strategies it adopted, increased the cap on foreign investments in ‘G-SECS’ (government The numbers mentioned movement of money. Not to campaigns and remains securities) by $5 billion above have made regular track down the travails of unaccounted. raising the figure to a total of appearances in most inflation, interest rates, A handful of activists $30 billion to lure foreign newspapers over the past foreign investments or some years ago had decided portfolio investors and hiked few weeks. The sanctity of currency volatility. But to try to fight this menace. After a the import duty on gold to these numbers is best left to and assess travails of long and hard battle, the 8% (in order to discourage the learned governors, another kind. Central Information its imports). We may witness economists’, ministers et al. While we hear and read Commission (CIC) finally more such efforts in the So I shall not take on the about the stringent norms to acknowledged their efforts. coming months. mantle of finding a silver catch hold of tax evaders, I In a landmark judgement in While the US, UK, EU & lining, via this article, in the wonder how many crores of June ’13, the CIC, brought all Japan have been on a ‘Grey’ that I attached to the Rupees are ‘donated’ to political parties and their liquidity spree of their own. macro-economic political parties and are lost finances under the purview With Bank of Japan planning fundamentals at the in the noise of their of RTI. to infuse $1.4 trillion into its beginning. campaigns. Money, There is no hiding from economy over the next I am more curious in taxpayer’s money, goes into the fact that no matter what couple of years. seeking the end result of the funding these political the monetary policy of the ELDORADO | 2013 finance section 17

time may be, for 66 years simply because powerful since independence lobbies had tools to thousands of crores were implement such an spent in ‘garlands’, operation, hide it, even ‘handshakes’, ‘drum justify it, if need be. beating’, incoherent The intent is not to ‘speeches’ (by the road side shower praise on ideal or through the loudspeaker) citizens but bring into to ensure victory for some perspective the end result of and unhindered money the ‘rat race’ a lot of us are supply for the donors in the running. If money is the only following years. prize for the winners of the By way of this race then we deny ourselves judgement, these activists many rights & opportunities have contributed in bringing of which we are incumbents. transparency to the system. The urgency with which They have tried to ensure we intend to find solutions ‘politics’ is accountable, to rainy day but only few of us around the world) were for some of the alarming the tax payers, for the money would allocate money for a brought into public eye by a numbers we read at the it spends. ‘cloud burst’ that is not relatively young American beginning of this article, So why fight for people’s directly over our heads. who had formerly worked similar, if not more, should rights? Why should a Some choose to give for the CIA and was be our need to understand lucrative career in an MNC speeches on the tragedy such presently employed with a which all ends does money not be the driving factor for floods and cloud bursts company that was a help us achieve. Or is it an these activists? cause, while some meddle contractor for the National end in itself? Or are they driven by a with their monthly finances Security Agency. The To gauge how money can cause, a right, they (and and ensure contributions in resume, is only to highlight be utilised in attaining many others) are often relief funds (and indeed that a life on the run, chased something that we would denied? allocate money to a by intelligence agencies in cherish more than money None of their efforts subheading named America, sought after by itself in our personal lives, could have reached their ‘donations’ in their enemies of the U.S, looking thereby making it the rightful end without money. portfolio). over his shoulder each day ‘means’ to a rightful ‘end’ This bunch of educated and Are these men & women of his life for the fear of would be the true silver talented individuals would not concerned regarding the being captured and lining in an otherwise have had access and means amount of currency RBI extradited, could have been gloomy environment. to earn their livelihood and should infuse into the completely avoided. more importantly – channel market? How much should Yet he chooses to make the rest of their ‘buck’ India’s borrowing be? How statements that imply that he towards a cause they held in should the Current Account has a clear conscience after higher regard than money Deficit be controlled? playing his part in exposing itself. Or are they too, like the what he thought was abuse We spend a lot of our activists earlier, trying to use of power, unjust to people time planning investments. money as a means to attain a and possibly fatal for his Try to make our money different end? own life. multiply in future and save The recent allegations on Had this talented as much as possible today the U.S government of gentleman continued (especially from tax). But in privacy violations of earning his handsome our portfolio of assets, I mammoth proportions on perquisites, people in the doubt if there is ever a millions of people in U.S would never have subheading that says connivance with some known they were being ‘donations for flood victims’. IT/ITES giants (which, dare I spied over almost every Almost all of us save for the say, are household names second of their daily lives 18 ELDORADO | 2013 alumni

DREAMDREAM BIGBIG

“Your attitude, not your aptitude, will determine your altitude.” – Zig Ziglar

own Multi Level Marketing At INNOCEPT we were Innocept has created a venture, in 2008 with 2 other a group of friends teaming niche for itself in the event AKSHAT GUPTA partners. The capital came with ground-breaking and industry. We are known for PGDM ( 2008-2010) from the earnings earned spanking new ideas along our dynamic nature of during my graduation days. with a determination of concepts and niche clientele started off at the age of After the success of this ‘making events and parties like Vodafone, AUDI 19, while I was studying venture, the business was happen’ easier and enjoyable ,Porsche, Genpact, Syscom, Hotel Management in getting in place; I started for you while we took care of SAP, Ikea ,Bagga Link, IDelhi. Having spare time in executing the other big plan all the managing required by BSAITM, Harrisons etc. We my hand and the desire to I had for myself. Coming them. And so without much are associated with esteemed succeed, led me to join a back to my background of ado ‘Innocept Studio Pvt. hotels in Delhi like Hyatt, Multi Level Marketing firm. the hotel industry, I got into Ltd.’ was born. Since then we Claridges Surajkund, Taj It was from there, that I event management. I started have engaged in events of all Palace, Hotel Aman etc. envisioned myself becoming with INNOCEPT STUDIO sorts – private parties, Today, standing at the an entrepreneur rather than PVT LTD in 2009. corporate events, wedding end of 2012, I can see both working in the hotel I felt the need of gaining planning, kirtans and my enterprises doing well. industry. I also started more knowledge to become satsangs, brand elevation, My next goal is to venture earning a good amount of a better entrepreneur and product launching, venue into the catering or a food money from the marketing learn new things; hence I got promotion, brand activation outlet. Life has a lot of industry. During 4 years of enrolled into Master in and advertising, pre and opportunities to offer, the my graduation and working Business Administration post wedding functions, rest lays in your thoughts. in the marketing industry, I programme in JIMS. During exhibitions and fabrication, You can’t predict what could understand that those two years of studying I sports management, college happens to you, but you can entrepreneurship was the understood the marketing fests, artist managements, predict the path of your most viable option for basics, human resource theme parties, event visions. Only when one me...Hence; I started my management and how the coverage, talent dreams big, you achieve big. business world works. management etc. ELDORADO | 2013 alumni 19

RENTEDCOMPLETING THE ‘PAID-OWNED-EARNED’ MEDIA FAMILY!!

f you are, in any way, 1. Organically, posts of a 2. FB has issued guidelines related to digital MP SINGH page reach on an average for cover pictures of marketing/digital media, PGDM (2004-2006) only 16% of the users brand pages. If you own II am sure you would according to FB. To reach the page, use it the way have come across this trinity classification. What out to more users, brands you want. Why should of media classification: Paid, differentiates Rented Media need to use Sponsored FB define the rules of Owned & Earned. Some of from owned media is the Page post. If the platform what is to be put and us practically live by this degree of control which was completely owned what is not to be put. classification every day. But brands enjoy over the by a brand, it should Compare this to your the way media is evolving, I platform. If a brand has an organically reach out to website, a really owned think, the classification unconditional control over people. If people have medium. You get the needs a relook. Some of the the media platform, it is chosen to like a page, difference, don’t you! social platforms, which classified as Owned Media. why limit put a limit. These are just few points to brands think they own, are A brand website/wap site etc First brands pay for illustrate why FB pages actually calling the shot is an example of owned people to like their page, should be classified under without changing the media. and then you have to pay Rented Media than as ownership of platforms. As a again to make them see If brand is using a owned media. Classification consequence, brands your post. It’s like using platform where they don’t of Paid, Owned, Rented and authority has paid media to promote have to pay to be on the Earned is based on degree of inconspicuously been moved rented media. Sounds platform but the platform is control as well along with from being owner to a lessee. like you are living in a constrained by the terms & ownership. Here is a table Hence, the media also needs rented space than an conditions of the platform which captures the essence to reflect this change, and owing one. itself, it should be classified of this article. the apt word for this change under Rented Media. Hence, is ‘Rented’ media. Degree of Control Medium Classification Ownership Facebook would be classified So what is Rented under Rented Media rather Full Owned/Paid Brand Media? than Owned Media, as being Partial Rented Brand + Platform classified today. Here are Media, over which brands Control Earned People+Brands have a partial control, would few reasons why I would fall under Rented Media call it a Rented Media: What’s your take!! 20 ELDORADO | 2013 alumni The New Age Individual Challenge

think your idea will change the world?

Efforts by: SAURABH KALRA PGDM (2001-2003) CEO WHITE ROCK INTERNATIONAL ...... Gateway To Sourcing

o one would change our broken system. /institutions and take the successful entrepreneurs in debate that India is They are not content with course of their choice to be their chosen field. Some of a land of pursuing short-term profits, successful in their future them take the legacy of their entrepreneurs.N From the irrespective of the costs to lives. Many of them get family business to new globally renowned captains society and the environment satisfied with their salaried heights and some start a new of industry like the Ambanis and assuaging their jobs , but there are few , who venture all together .But the and Tatas . Pharmaceutical consciences through acts of right from start have vision big questions is how do they giants such as the Reddys charity and ‘corporate social and mission to do something do this successfully . and well-known IT pioneers responsibility’. of their own . These are the Now-a-days in all kinds like Narayana Murthy and Young students from all people who are called the of management, retail and Azim Premji to the millions walks of life take admissions New Age Individuals who fashion institutes, of men, women and children in all kinds of colleges tread their path to become Entrepreneurship is being who are entrepreneurs out of taught as a subject all necessity, using their together to give deep insight imagination and wit to to all who want to become survive. one. Some institutes like While many Indians, Pearl Academy have opened young and old, may aspire Entrepreneurship cells also to emulate the commercial like many others. entrepreneurs who have This article signifies and made billions, there is a outlays some easy steps for growing number of talented, all like minded individuals educated young men and to step to the path of women who march to a Entrepreneurship. different drummer. They Though there’s no want to use markets to scripted way to become an ELDORADO | 2013 alumni 21

entrepreneur, but there are nothing great can be certainly things you can do achieved without this to make your journey easier. element. 1. Have strong belief in It is well said by someone yourself and a will to that: succeed and also at the ‘You cannot cross a same time you should chasm in two small jumps; have ability to respect you have to take a big jump’. criticism if any because Expect the unexpected. you need to be patient The road to entrepreneurial and learn from mistakes freedom is rarely paved, and done by you and by generally speaking, your others so that the mind is tires aren’t ready for the always open to change rocky terrain, either. for the better. 4. A strategy or a plan for 2. The birth of an Idea takes the business need to be place with the product created which needs to selection for which one have the company’s needs to turn it into values , the goals to project venture, research achieve , understanding it carefully, see the the market , financing, But with all the above So come one and come all potential, protect with competitors & your certain precautions also need and ignite the fire in U and copyright if it is real strength and weaknesses to be taken right at the start become an Entrepreneur. brain stormer and then and last to have team to of new venture which are Always have a MOTTO: discuss with all those support you . related to poor planning , Perfection with Devotion who have walked the If you’re going to traverse lack of finance, poor While Treading the Gateway road before to have a the road of an entrepreneur, management and location to Entrepreneurship perfect guidance . you need to play it smart by disadvantage so that there is 3. RISK: It’s the key to avoiding distractions and no hole dug in the pocket. Entrepreneurship since obstacles. Do you have what it takes

to do something different? 22 ELDORADO | 2013 money facets

Beggary as a Business in India

oday in India, earns Rs.24,000/- per month This also points at the begging is not an act; in cities almost equal to a fact that a lot of begging is it is a business. Of the white collar job salary. Even “commercial”, run by gangs Tvarious problems which this huge amount of earning RICHA PALIWAL who use children to beg. Not PGDM (2012-14) India faces today, the is not able to improve their too many people are aware problem of begging is one of condition. It is because of it but the beggar-scams the most acute ones. begging is scattered and art of begging. Orphans and that are in operation in India A survey by Dr. disorganized. kidnapped children are are scandalous. Because of Rafiuddin, Director, There are various types engaged in this profession the way the common man is Hyderabad Council for of beggars, some who are and with time they become cheated by the begging Human Welfare reveals, physically incapable of experts. This type of begging scams, even those who truly doing any work, some who is indeed the most harmful. there are approximately 4 are in need of help are take to begging due to Beggars also rent babies Million beggars across India shunned away. For e.g. in who earn as much as Rs 200 religious sanction and then from their mothers each day, Mumbai in particular, crore (45 million US dollars). there are organizations to lend credibility to their visitors are often approached On an average a beggar which train children in the begging act. by a child or woman ELDORADO | 2013 money facets 23

wanting some powdered them with suppurating milk to feed a baby. They wounds. The more they are will assist you to a nearby tortured or tormented the stall or shop that more sympathy they gain conveniently happens to sell when they beg.Young girls tins or boxes of such “milk”. begging on the streets are However, the milk will be regularly abused and taken expensively priced and if into flesh trade. They fall you hand over the money for prey to leprosy and AIDS. not just give – you should assuring reservation of it, the shopkeeper and the Children are the worst hit. give effectively. Giving quotas for all the goods beggar will simply split the They suffer and quite easily effectively does not mean produced by the proceeds between them. fall prey to drug abuse. simply giving to the poorest beggars.Giving out a few The Oscar winning film, Most of the beggars are beggars you happen to run rupees every day, we will ‘Slumdog Millionaire’, idlers. They cause a great into during a day of travel. only be encouraging begging highlighted the plight of loss of labor and industry to While the most effective which will dissuade them hundreds of thousands of the nation. Their manual charity could be to give to from working for their daily children in India who are labor could have been better the NGO’s. Instead of doling bread and butter being forced to beg by utilized in factories or mills out money at the sight of The more they receive mafia-style gangs.Many of or very especially every beggar, providing money from begging the them are deliberately agricultural sector and food could be a better more they get addicted to it maimed. Arms and legs are would have helped the option. Linking them with and also regular inflow of forcibly amputated, others Indian economy. NGOs is another way we money through begging will are cruelly blinded. The I believe that everyone could help. The Government be a lucrative business for gangs also pour acid on to has a duty to help the less should work with capable, the mafia. But we may find children’s bodies leaving fortunate. But you should honest NGOs and help uplift many beggars malnutrition- the deprived. Once basic ed and diseased in the roads education is provided, these and our heart melts to help people will learn to make a them, so the best thing to do livelihood and lead better here is instead of throwing lives. It could be made few rupees we can buy some compulsory for large food and give it to them. corporate companies to I would plead to all finance such groups.Teach citizens not to give even a them some work according single paisa for beggars at to one’s capability. Get them any point of time, if so it is a suitable job and provide as if you are spoiling your money to start a small own brat by feeding more business ex:- (fast food candy. If you are really center, panipuri center...etc.) concerned about the future Mass rehabilitation of beggars then you should programs should be teach them how to do designed and implemented. fishing, and should not feed In the rehabilitation the him the fish directly. beggars are taught “The Money provided to importance of a respectable a beggar can get a meal for a life, doing small business day,but will not forge his such as selling small toys, future, hence show the way importance of education to work and then earn etc...The government can money”. become the facilitator by 24 ELDORADO | 2013 money facets

IndianIndian Healthcare Healthcare - - CommercializedCommercialized

one are the days care centers and more than healthcare industry has been when people used 40 per cent of hospitals in commercialized but not a to say our Hakim the country. Per-capita single Medical Professional G(Doctor) has the healthcare expenditure would like to agree. On the KUNAL BHALLA cure for any disease. People increased at a CAGR of 10.3 other hand, in India PGDM (2012-14) may still think this way but per cent over the period for presently 50% of children are all perceptions have changed calendar year 2008-11 to under nourished, then it will commercialization and with time and so has the USD57.9; the figures is set to not be criminal to say that people are making money in healthcare industry. By the touch USD88.7 by 2015.This Healthcare has been the name of curing people. very title it has acquired, is on account of given rising commercialized. All the They are charging an unfair that of an industry. Let us incomes, easier access to arguments on advanced amount, which people take a glimpse of this high quality healthcare technology, medicine, R & D forego saying a very typical industry. facilities, and greater etc. fail in front of the fact line that “Health is Wealth”. This industry has the awareness about personal that India is a country where Healthcare industry is taking Public and Private players health and hygiene. Greater 28% of people live below the undue advantage of this which provide the penetration of health poverty line and 26% people fact. Hence, people from healthcare facilities. The insurance has also aided the are still illiterate. middle income group think private sector has emerged growth in healthcare Commercialization leads that why to go to such as a vibrant force in India’s spending, a trend that is to a stage where MNCs are expensive hospitals, they healthcare industry, lending likely to intensify in the having major role in will make a long list of tests it both national and coming decade. The statistics healthcare and common and still nothing will be international repute. Of total show that it is satisfying people find it unaffordable. cured. healthcare spending in the picture but is it really so… From past two decades Recently I saw a big country in 2011, private that is questionable. the healthcare industry has advertisement showing the sector contributed 68 When the facts show that been unsuccessful in terms inauguration of a new percent. In fact, the private this industry is growing by of providing best possible hospital in NCR. The people sector accounts for more 10% every year, I doubt. aid to the needy people. This who have visited the place than 65 per cent of primary Experts believe that the is an immediate effect of claim that it is no less than a ELDORADO | 2013 money facets 25

5 star hotel. It is equipped destructive? and his chances of survival community. But during the with many luxury facilities. If all the policies and looked bleak, the village past 20 years, the number of Linked to this, there was an schemes had been people would just lock him for-profit health care interview in a Business implemented properly by or her in a room and wait for facilities, ranging from News Channel by the the Government, then this him to die. The health national hospital chains Chairman of a leading group situation must not have risen facilities were so far away affiliated with major of Hospitals in India, he in India. A daily soap shows and expensive that the academic institutions to local shared the success and the just an instance at the village could not afford to dialysis centers, has grown glory of his group with the starting of the show that a spend the time and effort to at a rate exceeding even that commoners but in the whole person who dreams of take the patient to a health of the computer industry. interview he didn’t say a glorious India, it shows a center.” This is the bitter The ethical implications single word about the situation where a doctor is reality of India we will live of the growing quality of healthcare or saying to a old man that her in where a baby in the city commercialization of health benefits for poor or the daughter will be treated with a congenital heart care have become a matter of common man. This is with best medications and defect can be saved but not a heated controversy. Those nothing but that too free as this is a free rural patient with typhoid. favoring the trend towards Commercialization! medical healthcare unit, and But how does one deal with health care for profit claim I read an article in daily the host of the show says it? And are there ways and that an increased role for magazine which I want to that yes this was a dream means by which we can entrepreneurs and highlight, it says and thus broke. The host reduce the cost of competition in the delivery “Commercialization in says, “What if these Free healthcare? of health care will result in a health care basically means Healthcare units are there in When Indian healthcare more efficient and effective setting up private owned physical sense also and not system is so developed, a health care system. For hospitals which in turn are in documentations.” Does report was revealed in the others, the pursuit of profit the ones set on the business any government official have Global Burden of Diseases, is antithetical to the values ethics of profit. But this does an answer to the question. Injuries, and Risk Factors central to medicine. not mean that there is no Opposing the proper treatment. It is true commercialization of health that they cost more and in care are those who base their India where there are so arguments on considerations many poor people, they of justice. They argue that a cannot afford such high Why this situation is in 2010 Study (GBD 2010), a society as wealthy as ours charges. The government India. The American collaborative project led by has a moral obligation to hospitals draw a lot of healthcare system is based the Institute for Health meet the basic needs of all of people because the charges on Health Insurance. So if Metrics and Evaluation its members. Every Indian, are reasonably low and the citizen is insured then (IHME) at the University of rich or poor, should have possess some fine the Insurance company pays Washington which shows :- access to the health care he experienced doctors and not their healthcare bills. In With little public or she needs. only that these hospitals England and most of warning, a concern for I end my article leaving cover many rural parts too.” western Europe, the concept “good business” has moved to the readers to think how a This says that the of Universal Healthcare to the heart of health care, a better healthcare system be Government hospitals are prevails. That means the sector once relatively developed. helping the poor or the government assures you a insulated from the common man to afford such fundamental right to health. pursuit of profit that healthcare facilities which So there are Government drives the rest of the HITTING THE ROCK BOTTOM Rank by Top mortality cause Life private sector doesn’t. At a funded institutions like the U.S. economy. Country mortality expect- leading Government NHS, which takes care of Throughout our rate All ages 15-49 yrs ancy hospital in Delhi, a patient Sri Lanka 68 IHD Self-harm 75.46 your hospital bills. history, medical Brazil 80 IHD Violence 74.08 had to stay in public toilet I was speaking to a institutions have Nepal 108 COPD Self-har 69.2 for his medication for 5 days famous physiotherapist a largely been Bangladesh 113 COPD Tuberculosis 69 because of lack of beds in the few days ago and she “charitable,” Russia 125 IHD HIVAIDS 68.86 Pakistan 127 IHD Tuberculosis 65.73 hospital in last winters. If recounted a horrifying nonprofit India 139 IHD Self-harm 65.21 such facilities have been incident in a village in establishments S. Africa 154 HIVAIDS HIVAIDS 59.9 opened by the Government, Andhra. “She said that if existing primarily to IHD: Ischemic heart disease; COPD: Chronic ob structive pulmonary disease are they curative or someone was ill and dying serve the 26 ELDORADO | 2013 money facets MONEY AA RADIOACTIVERADIOACTIVE COMPOUNDCOMPOUND

humans to be in the state of problems but should be the Ambani’s success. A country deprivation all the time. solution. where half of the population AMIT GOURAV Apart from these things the There are many people consists of famished people PGDM (2012-14) most dangerous of all who earned lot of money, who go to sleep starving and characteristics of money is reached the highest echelon lead their life in depravation, oney and Cobalt the ability of money to of their field but are way too it is really preposterous to 62 has something puppet the conscience of an parsimonious to lend their set an example like this; He in common with individual. Where an hand to the emaciated .I could have used this money Meach other, both are meant to individual thinks that he is would have no compunction to develop grounds for ameliorate life of humans actually controlling others in saying that they are many employment of poor people and alleviate their sufferings and manipulating others, in numbers in our nation. and their living. Money but could also be the reason money starts manipulating We all know about Antilla, could be given in some other of cataclysm and decimation his conscience and controls Residence of Mukesh form too. of humanity if not managed his demeanour. Ambani a twenty seven Two years back I got an properly. Money is power, and as story building and the opportunity to visit the Contrary to the popular quoted in movie Spiderman world’s first billion dollar Padmanabhaswamy temple belief money is not just a “with great power comes home protruding out as a in Kerala; it looked like any medium of exchange or a great responsibility”. Power symbol of Mr Mukesh other Indian temple but I mere storage of value but a to think and fulfil the needs compound that actually of those destitute about radiates power, the power to whom god has stopped make one self independent. thinking. There are many The ability to manipulate who actually realise the others according to ones efficacy of money and work wishes. These are the for upliftment of destitute characteristics that make the and crippled, Bill Gates, appetite for money Carlos Slim but the name of insatiable. Some credit for Indians are very limited in the unending crave for this list. We must remember money goes to our diligent that salvation doesn’t come marketers who find new by taking dips in Ganges or ways to trigger the needs of visiting holy shrines but by individuals and also the altruism and philanthropy. congenital disability of Money is not the genesis of ELDORADO | 2013 money facets 27

was left agape when I came about whether money can to know that it was the buy happiness or not. Very richest Indian temple with a few people dare to say that treasure of more than one they are materialistic; lakh crore, It was the day I because it signals that they came to know about one of do not value love or the facets of Human nature. relationships but there are Our paying a hefty donation many who admit. Money to temples or shrines is not a does not buy goods or torrent of emotion services but it can buy an germinated by a generous experience and these heart but a way to cajole our experiences make us happy. conscience. It means no Don’t you remember the first matter which way we choose bicycle that your father to earn money but once you bought for you? It was not pay god his dues than he is mere love that was needed create a just, equitable and poverty”.The power of surely going to forgive you to buy that bicycle but also humane society .He is an money is unquestionable; it for all your sins that you did money. epitome of frugality, he still is the most spoken language for earning money. You must Azim Premji one of the travels in economy class and of world followed by English have noticed that donation pioneers of Indian IT drives a Toyota corolla. We and when money talks every to deities and corruption industry is among those need more magnanimous individual deciphers the goes hand in hand. people who knows the people like him in society. accent and no one looks at As I discussed earlier power of money and change Once Sarojni Naidu said “it the grammatical mistakes. about the power and efficacy that money can bring, he has takes a great deal of money of money, now we shall talk contributed $2.1 billion to to keep Gandhi in 28 ELDORADO | 2013 money facets Evolution to

SONIKA AGARWAL Revolution PGDM (2012-2014)

t’s something of value. exchanges take place Money, in and of itself, is through money. All nothing. It can be a economic activities relating shell,I a metal coin, or a piece to production, distribution, of paper with a historic consumption etc can be image on it, but the value motivated by money. that people place on it has Savings and investments can nothing to do with the be made in the form of physical value of money. capital information. Money derives its value by being a medium of Role of money exchange, a unit of Money helps in the smooth measurement and a functioning of the economy storehouse for wealth. in the following ways: Money allows people to • Introduction of money trade goods and services. eliminates all the inconveniences of barter From Barter to system. Banknotes to • It provides purchasing Electronic Money power, to buy goods and services and factors of It all began with the Barter production directly. System. Barter is the • By using money as a unit exchange of resources or made out of base metals. officially made the standard of accounts, debits and services for mutual Outside of China, the first of value in England in 1816. credits of transaction can advantage, and the practice coins developed out of At this time, guidelines were be maintained in an likely dates back tens of lumps of silver. They soon made to allow for a non- economy. thousands of years, perhaps took the familar round form inflationary production of even to the dawn of modern • Money acts as a standard of today, and were stamped standard banknotes which of deferred payment, so humans. Bronze and Copper with various gods and represented a certain cowrie imitations were future transactions can be emperors to mark their amount of gold. Presently in easily made. manufactured by China at authenticity. Unlike Chinese the digital age, economic • National Income can be the end of the Stone Age and coins which depended on transactions regularly take distributed in terms of could be considered some of base metals, these new coins place electronically, without money. the earliest forms of metal were made from precious the exchange of any physical • It facilitates specialization coins. Chinese coins were metalssuch as silver, currency. Digital cash in the and division of labor. bronze, and gold, which had form of bits and bytes will The Indian economy is the more inherent value. Then most likely continue to be fourth largest economy of came thePaper notes. The the currency of the future. the world on the basis of first known paper banknotes Modern economy is a Purchasing Power Parity appeared in China.Gold was money economy where all (PPP). It is one of the most ELDORADO | 2013 money facets 29

index (CPI). There are at market operations. When contraction. What this will present four consumer price there is a need to increase do is lower real output indices covering different cash in the economy, the because less government socio-economic groups in central bank will buy spending means less the economy. government bonds disposable income for • Consumer Price Index for (monetary expansion). These consumers. And, because Industrial Workers (CPI- securities allow the central more of consumers’ wages attractive destinations for IW); bank to inject the economy will go to taxes, demand as business and investment • Consumer Price Index for with an immediate supply of well as output will decrease. opportunities due to huge Agricultural Labourers cash. In turn, interest rates, A fiscal expansion by the manpower base, diversified (CPI-AL); the cost to borrow money, government would mean natural resources and strong • Consumer Price Index for will be reduced because the that taxes are decreased or macro-economic Rural Labourers (CPI - demand for the bonds will government spending is fundamentals. The growth RL) increase their price and push increased. Either way, the and performance of the • Consumer Price Index the interest rate down. result will be growth in real Indian economy in the world for Urban Non-Manual In theory, more people output because the market is explained in terms Employees (CPI-UNME). and businesses will then buy government will stir of statistical information All such economic indicators and invest. Demand for demand with increased provided by the various not only measure/analyse goods and services will rise spending. In the meantime, a economic parameters. the present performance of and, as a result, output will consumer with more For example, Gross an economy but also help in increase. In order to cope disposable income will be National Product , Gross predicting and forecasting with increased levels of willing to buy more.A Domestic product , Net its future growth prospects production, unemployment government will tend to use National Product , per capita levels should fall and wages a combination of both income, Gross Domestic MONEY SUPPLY should rise. monetary and fiscal options Capital Formation , etc. are IN INDIA On the other hand, when when setting policies that the various indicators Money Supply M3 in India the central bank needs to deal with the macro relating to the national increased to 85126.99 INR absorb extra money in the economy. income sector of the economy, and push inflation Billion in May of 2013 from The Bottom Line economy. They provide a 84674.11 INR Billion in April levels down, it will sell its T- The performance of the wide view of the economy of 2013. Money Supply M3 bills. This will result in economy is important to all including its productive in India is reported by the higher interest rates (less of us. We analyze the macro power for satisfaction of Reserve Bank of India. borrowing, less spending economy by primarily human wants. Historically, from 1972 until and investment) and less looking at national output, The four main monetary 2013, India Money Supply demand, which will unemployment and aggregates of measures of M3 averaged 13557.47 INR ultimately push down price inflation. Although it is money supply which reflect Billion reaching an all time level (inflation) but will also consumers who ultimately the state of the monetary high of 85126.99 INR Billion result in less real output. determine the direction of sector are:- in May of 2013 and a record Fiscal Policy the economy, governments (i) M1 (Narrow money)= low of 123.52 INR Billion in The government can also also influence it through Currency with the January of 1972. India increase taxes or lower fiscal and monetary policy. public + demand Money Supply M3 includes government spending in deposits of the public; M2 plus long-term time order to conduct a fiscal (ii) M2= M1 + Post Office deposits in banks. This page Money is an absolute power Savings deposits; includes a chart with in modern society- it makes (iii) M3 (Broad money)= M1 historical data for India everything click! It remains + time deposits of the Money Supply M3. the single source of almost public with banks; all temptations and (iv) M4= M3 + Total post Governments Role motivations ever known to office deposits. as an Influencer! man Price movement in the Monetary Policy country is reflected by the A simple example of End of the day the most wholesale price index (WPI) monetary policy is the eternal of all facts is and the consumer price central bank’s open- that—All of us need it ! 30 ELDORADO | 2013 money facets

TheThe closer closer you you getget to to Money, Money, TheThe farther farther you you move move awayaway from from happiness happiness

iss MONEY, the player is now in jail. maintaining day to day life. younger and “Love of money” it is There are both good and evil charming sister said is the root of half the path to reach or acquire SRIPRIYA SOURABH Mof BARTER has been much PGDM (2012-14) evil in the world;”lack of money, which path one successful in creating a money is the root of other chooses, determine their magical spell on almost the half”. Money and fate. The same money can be Uttrakhand. His insatiable entire society. Nobody satisfaction are two parallel a maker or breaker. It’s like craving for wealth brought remains untouched by its lines which never meet. If a the same knife can be used about his nemesis. glamour and everybody person owns a cycle he to cut vegetables and to kill IPL is another arena fantasizes about it day and desires for a motor bike. The people. Its utility depends which depicts ugly truth of night. The love for money owner of bike wants a car, a on the mindset of users. money making by use of gradually turns into car owner longs for better Therefore a right mindset is wrong and unlawful means. obsession and eventually the car and these limitless wants desirable to cut the trap Miss Money makes its craziness to possess more remain insatiable. All which money keeps on obsessed lovers to dance to money which drives people antisocial activities are more creating. The right formula is its tune. Cricket players like to indulge into evil deeds. or less attributed to quest for to earn money by Sreesanth are ready to Ponty chaddha who money. Such lure also leads performing the duties sacrifice their passion for recently got killed in hail of people to commit thefts, lawfully and get adequate playing in thirst of more and bullets at the hands of his resort to cheating in office returns. A strong- willed more money. The tainted own brother Hardeep at his and company accounts, and mind is an essential requisite chattarpur farm house, in tax returns, in business to escape the dirty game of best portrays that how a and industry; in fact, money. never ending lust for deception spreads in every money ends one’s life and branch of human activity. even all accumulated Hence money is a destroyer wealth can not bring back of ethics, morale, and the precious life. He was conscience and in fact, better known as liquor humanity. The irony baron, real estate magnate associated with money is and Wave cinema owner. that the more we get the Ponty chaddha built his unhappier we become. empire on the strength of However we cannot open connections with ignore the importance of corrupt politicians and money. Possession of bureaucrats of UP and money is essential for ELDORADO | 2013 money facets 31 M NEY...

RAJAT SHARMA a stupid commodity! PGDM (IB) (2012-14)

hat does money race is working so far? Well think a very rich person who You will lie to yourself if do for you? Does economics have a major role has enough money to get you say you aren’t living for it buy you to play in it! Try to everything he wants and such valuables; of course Whappiness or as understand this through a saved enough money that he you want a life with the the cliché goes yeh toh case. had, what will he be doing? beautiful people around but haatho ki mel hai.. Money Lets say at the time of Why the hell he’d be then you want that life in a being the unit of value early man all you needed working anymore? Then we big house, to travel in a big doesn’t exactly add value to was food, clothes to cover realise that he isn’t working car, and with enough money you unless you spend it. the body and a place to live. for himself anymore he is for buying aid in case of They say the more money And its obvious not now adding ‘value’ to the life emergencies. you have the more you can everyone would have of others; it could be the Steve Jobs was a great buy; but the more money everything so the trade had society or his own future man! He knew there is a lot you hold, that amount of to start for the common generations. already in this world but he value you’re losing out on. survival (a value to the Lets say if the sole created a new product, “an John Maynard Keynes seller) in exchange of the purpose and aim of ipod” and beautifully cleared the thought why we basic need. everybody’s life is to have a created demand for it. In fact demand money i.e reasons But as time rolled by car, and If I get it and then I Apple Inc. is doing this for for holding it which could be nature revealed its beauty work more to get one for my sometime now; and today I for either transaction or and colour and now the man family or friends or this told my mom that I would precautionary or for wants more, more weapons society or the whole world. like to buy an iPhone with speculation purposes. to fight (arrows and poison), And if there is no other my first salary. The entire money present in better clothes, well built value in our world, the this world which represents houses etc. In short addition human race would the power to buy something, to the value had started; face troubles in be it goods, commodities, creation of demand by the moving ahead and services, land etc. will producer and exchange in instead will fight remain constant till the time some other value; be it with each other to the value isn’t increased and service or product by have more cars, and the money will create more another producer. Barter is the world will end money as long as the value is going on till today if you pretty soon! adding on to this world. think of money as a So creation of So if that’s the scenario not commodity; a store of value; demand is the utmost everybody can be rich on our a medium of exchange. requirement for the planet as rich will be called If ever you have let your economy and more ‘rich’ only if poor are mind run, I’m sure you importantly us (the existing, and not just that if would have thought how we humans) so to keep we consider being rich as have turned civilised and this stupid being happy, well then we today we are acting like commodity let to- can’t have a happy planet. puppets , to work, to earn and-fro its essential It makes me wonder money, to spend some and to to give it its due sometimes how this human save some. And then you respect . DEMAND CREATED! 32 ELDORADO | 2013 money facets MoneyMoney MultipliersMultipliers

kind of thinking is more are troubled by fear and homes. The reason that the psychotic than a person who desire, but money cannot do rich gets richer and, the poor

MOHD. MAHTAB hoards money. that. gets poorer and middle class PGDM (2012-14) Most of the people do not struggles in debt is because know that it’s their Emotion The Trap the subject money is taught that is doing the thinking. But I ask is job the best at home not in schools. Most nvention of money was They work for money solution to this fear over the of us learn about money so convenient. It was because they have bill to pay. long run? In my opinion the from our parents. So what designed as a mean of First emotion is the fear answer is ‘no’ especially can a poor parent tell their Iexchange and measure of in their mind which makes when you look at person’s child about money? They wealth. them think to work for lifetime. A job in reality is a simply say that stay in the There are two types of money. If the fear of not short term solution to a long school and study hard. The people in this world, one having enough money arise term problem. It is self- child may graduate with says “the love of money is they run out to get a job so inflicted fear that keeps excellent grades but with a the root of all Evils”. they can earn a few bucks to people trapped. poor person’s Financial Another says “The lack of kill the fear. This trap has a very deep Programming and mind set. money is the root of all And second is Desire. It origin and it starts from our Money is not taught in Evils”. I noticed that people is perfectly normal to schools, schools focus on really do shape their life desire something better, scholastic and professional through their mind. prettier, more fun or skills but not on financial exiting. So people work for skills. This explains how Division of thought the joy they think it can smart bankers, doctors and I know and met many buy. But the joy that money accountants who earn people who say “I am not brings is often short timed excellent grades in school interested in money”. Yet and they soon need more may still struggle financially they will work for a job for 8 for more joy, more all of their lives. Even our hours a day. That’s a denial pleasure, more comfort, national financial decisions of truth, if they were not more security, so they keep are taken by highly educated interested in money then working, thinking money politician and government why are they working? This will soothe their souls that official who are with little or ELDORADO | 2013 money facets 33

no training on the subject of It is not important how money, and its consequences much money you make, it’s are visible to all. how much money you keep. I never say schooling is We know lottery winners not important. We go to who are poor, then suddenly school to learn a skill, a rich, and poor again, they profession so as to be a have made the money but contributing member in don’t know how to keep and society. Every culture needs multiply the money. teacher, doctor, police If you really want to officers and soldiers and avoid the trap and become school trains them, and so rich, then you need to be our culture can thrive and financially literate. You flourish. But for many should know the flow of need to know. If you want to says sky is falling instead people school is the end not your money so that you can be rich simply spend your look at the sky and take risk, the beginning. control it according to the life buying assets. If you avoid laziness. To work hard for money needs. want to be poor or middle Update yourself on daily and wake up in the middle I know many people who class then spend your life basis. In reality the only real of the night terrified about do job earn money and pay buying liabilities. asset you have is your mind, paying bills is a horrible way tax, then save money and Millions of educated invent on education to to leave. To live a life pay tax on savings. Then people pursue their increase usefulness of your dictated by the size of a invest in luxuries and big profession successfully but mind. paycheck not really life. houses and again pay tax. later find themselves Be in a company of those Thinking that a job will After some time their desire struggling financially. What who will help you to make you feel secure is lying increases they take loan pay is missing from their increase energy and to yourself. That cruel and tax and invest again on education is not how to potential, as it is said that that trap I want you to avoid. luxuries and are taxed again. make money, but how to “Like attracts like”. And pay Don’t let that happen to you. Now burden increases and spend money. And many your companions properly, Do not let the money run they sell out the same at loss people can’t tell why they but pay yourself first. your life and are taxed. Do not are struggle financially Make a budget, invest become like these become because they don’t your time and avoid Avoiding the trap one who are taxed once and understand the cash flow. purchases whose value is One of the best way to avoid earn multiple times. People work harder to guaranteed to decline. the trap is “Let the money To become a money increase income, but they do Always make profit out of work for you like a multiplier you should know not know how to multiply any opportunity. Sell items multiplier of money (rich about your Assets, Liabilities this money. They do not you do not use anymore, men).” Learn the way to and Cash flow. know how this money will even the smallest. Be wise multiply your money by Assets are what you work for them. with your money. If you proper utilization and have; don’t need it don’t get it. handling. Liabilities are what you Getting Started Keep of your credit report owe; Find the reason clear. Cash flow is a behind every flow of And remember…….. statement which tells money. Without a single Money is a power feel about money inflow strong reason and purpose a source, like electricity which and outflow. flow is a dig and once you can be used for good but This is find you have dug yourself which can be fatal if really you into a hole…………stop mishandled. digging. Overcome the fear of losing the money, overcome cynicism never run if one 34 ELDORADO | 2013 money facets

MONEY AND ITS IMPACT

oney!! What GEETIKA GUPTA comes first to PGDM (2012-14) your mind after SHIVAM KUMAR Mhearing about money? PGDM (2012-14) Is it greed, hunger, passion, lifestyle or simply a need.....? 3. Lobbying in politics Today, a student Well if it’s simply a need decides policies and tie dreams for a package, than one would be satisfied ups in political structures a bride dreams for a with the amount that’s It is like money is everything billionaire, family enough to fulfil the need but that is controlling one’s dreams of earning beyond its don’t take away his worries. it does not seem to. One is dreams, one’s happiness and needs as one is recognized in Worry about the investment, always in a rush to have on a macro level one’s life. society not by deeds but by worry about his money and more and more. Then, is it According to classical the economic power one has. worry about how to reduce the greed? We are all trying theory of money: Money has the existing worries. to survive and the means to no role to play, but does it Secondly, a person with a survive... is money. really so? lot of money should be Here are few examples: No, not at all!! aware of his relationships. 1. A person opting for a Money is just like Money can decide the particular job just • Shahrukh Khan of relationship values. A man because his dream job bollywood ’! loved by all marry Z only for money. does not offer him • Rahul Gandhi’! leader of Money can entice anyone handsome amount to young vibrant coming but if it can sustain a survive. generation relationship, that is seriously 2. A handsome dowry deal In whatever problem a No doubt Money brings a questionable. good lifestyle, branded and brings lifetime safety to person is, more the money Thirdly, we all know that independent life, anywhere the daughter. he has more easily and money has the power. Those and anytime holiday, effectively the problem will who have money can expensive education, fitness, be solved. It’s like whatever exercise that power. But this financial freedom, overall a be the diameter of a person’s hunger for power grows into great standard of living. problem, but the origin of an obsession and gnaws the Everybody wants to have a the circle will always be very fate of a man. The life like this then why not the money. situation becomes confusing money to fulfil them. Money not only whether money works for cannibalizes industries, But are we really paying them or they work for business ethics, social the cost for having all such money. beliefs, but it has penetrated stuff? into our own culture, soul, Firstly, Is a rich person thought and values. really happy? His riches ELDORADO | 2013 money facets 35 THE BIG FAT

MANISHA SHARMA INDIAN WEDDING PGDM (2012-14)

reeks can say cosmetic giants, travel, whatever they like tourism and even but nobody does a matrimonial web sites are Gbig, fat wedding the making money out of way Indians do! Marriage in marriages. Even foreigners, India is a serious business who want to solemnize their and no expense is spared. marriage in India, contribute Indians are obsessed with to the Indian wedding weddings and might go to industry. Online portals like any level to make their Shaadi.com, Bharat ‘special day’ as memorable matrimonials and others as they can. Consider the rake up revenues of Rs 200- wedding of Vanisha Mittal, 250 crore from match- daughter of making annually. The India’s wedding card market in second India for the 10 million richest man, marriages performed Lakshmi annually is worth Rs 8000 to Mittal. The Rs 10,000 crore. steel tycoon Moreover, Prime time spared no expense on his remote control junkies like youngest child’s nuptials, nothing better than wedding which were estimated to extravaganzas on the soap have cost box. According to a survey around by Star TV, Television rating US$60 points zoom to newer highs million. The Indian wedding upper-middle and rich when wedding specific While on the industry, estimated to be a classes are estimated to shows and episodes are other hand, staggering US$ 40.5 billion spend upward of US$ 1 aired on television. Mark (Rs.1,92,596 crore) – the million (Rs.5.59 crore). This Marriages might be made in Zuckerberg’s wedding was economy of a small country, doesn’t include cash and heaven, but when they are so discreet, even the guests and is growing at an valuables given as part of a celebrated on television, the didn’t realize that the couple explosive rate of 20 to 25 per dowry. With each passing audience seems to love it. was tying the knot until the cent a year. The average year, Indian weddings are And TV industry surely ceremony started. The budget for an Indian getting bigger and fatter knows how to cash on this bride’s dress didn’t cost wedding ceremony in the offering lucrative business Indian obsession. Consider more than US$4,700 and middle class is estimated to opportunity to the players this; there is a flood of TV they fed their guests Sushi, be US$ 34,000 (around involved. shows based on the concept from their favorite Rs.19.01 lakh) as opposed to Today, everyone, from of matrimony on Indian restaurant, estimated to have an average wedding budget those in entertainment to television over the last 2-3 cost around US$7 a plate! in USA of US$27,000. The décor, beauty clinics, years. If shows like Star 36 ELDORADO | 2013 money facets

are more or less recession free. For most, recession means waiting or decline in demand. But, every time there is a recession or downturn, traffic and activity on the marriage portals surge. According to a leading matrimony site Jeevansathi.com, the portal had seen a 20 per cent jump in business during 2008 - while there were reports of an impending slowdown, the matrimony business was holding steady. According to an in-house study by Shaadi.com, during recession, the propensity of marriage becomes less in the West. However, in India and other Asian countries, the Vivaah, Perfect Bride, Sony’s wedding management uploading wedding pictures propensity increases during Rishta.com, NDTV Good software for India, called and videos. These marketing the tough times. Times the Big Fat Indian Shaadi-e-Khas, in April 2011. strategies succeed in tapping These facts and figures Wedding and Band Baja Shaadi-e-Khas, which is sold the emotions of Indian point towards only one thing Bride were not enough, In to wedding planners and customers towards marriage that is Indian weddings and April 2013, India’s first retail customers, helps and fulfilling their ‘once in a the associated industries are matrimonial TV Channel manage RSVPs, guests’ lifetime’ opportunity. bound to prosper. So if was launched in Delhi called travel dates, accounts, hotel And to add icing on the anyone needs an idea for a Shagun TV. Now, India’s reservations, providing cake, these marriage allied business startup, hint is right booming television industry directions to the venue, and businesses in Urban India here! wants to play matchmaker, expanding the universe of arranged marriage with wedding reality shows. Considering the Indian wedding market, Bregeut launched its expensive watches ranging between Rs 8-15 lakh in the Indian markets. Companies like GE Money India have introduced an “auspicious” personal loan, exclusively for weddings. Giant malls like the Wedding Souk in Pitampura, Delhi, spread over one acre and with over 100 shops dedicated to weddings, have emerged. San Francisco-based software development company Veristrat launched ELDORADO | 2013 money facets 37

DEBADITYA BISWAS PGDM (2012-14) Urge to splurge...

wo papers... one was her favorite toy shop across understand, what those are.” All this time, there was crisp and new, while the road. Much too afraid to Undaunted she only one thought racing in Tthe other was damp, cross the road she decided to approached the ‘fat dumb her mind, MONEY...... scarred and dirty. She just stand and make a man’, and asked for her doll. We humans are an swiveled them between her choice! Her four year old jet The man gave her a big grin, enigmatic race, lost in fingers, playing with the black eyes began to screen big enough to show his gold translation within our own new one, clutching the other the shop. What amused her molars to every man in the needs - money is an one tightly in her left palm. most was the sight of the shop, and asked, “Do you ephemeral burden that we Her little fingers did not customers exchanging big have money little miss?” carry-awormgnawing at know what they held, but toys for just a couple of “MONEY?!” she thought, our existence. somewhere at the back of papers! She held a similar “what was that? Are the The doll is a beacon of her mind she knew that both pair of papers and on both of papers that papa gave called desire, that propelled the were equally important. them the number 10 was money?” urge inside the four year old. She totted along the clearly visible. Innocently she opened Money is the evangelist here footpath of the vast The site of the brilliant her sweaty palms and (as in most cases humanely metropolis, as the December dolls lured her across the revealed the two papers in possible). sun gradually retreated road. She hated the ugly fat front of the man. The man A simple doll has made a down the horizon. Home, man sitting behind the coughed out a laugh and four year old realize the was still a long way, and counter, “Wonder what he said, “Sorry little miss, that value of money - not to temperature was falling. Her does with all those papers is not enough, come back mention the innocent smile innocent mind wandered the people give him! My god, later, I will save this doll for that would curl around her meadows of a fairytale land he’s ugly and dumb too!” you”. languid lips when she is and was lost in translation in she chuckled. The thought of Confused, dejected and successful in “exchanging” an urban jungle for the first her father exchanging some filled with questions she the desired amount of time. mere papers for her dolls made her way home, as the “papers” for her doll, in She kept walking... The made her giggle every time, December night descended other words, happiness. next day was her birthday, and her mother used to say, its dark self on the city. The ability of money is to and she suddenly spotted “One day sunshine, you will buy momentary happiness, 38 ELDORADO | 2013 money facets

and it is the quest for this more than they earn. Out of Credit purchases have Certain men of God and ‘momentary happiness’ that which 21% regularly have propelled impulse buying philosophers say that money the infamous credit cards monthly expenses in excess amongst the modern and urge are inter-related were born, and the concept of their income generation like anything. We and both crucify the purity of credit purchase catapulted and 13.5% adjust are surrounded by of the soul. If that was true, in all the economies. their brands, and an then a four year old girl The very concept of a almost undying should be free of such an credit card is to ensure the urge to own urge and the need for convenience of a consumer. them money. The girl is not A credit card allows small makes impure; urge is an innate short-term loans to be us human emotion. Money, is a quickly made to a customer, direct result of satisfying hence, enabling him to buy that emotion, and indeed is a whatever he likes without thing of admiration not worrying about his balance loathe! limit. This concept was a Karl Marx said - “The breakthrough, because, ideal is nothing else than the researchers suggest that material world reflected by when people pay using the human mind, and credit cards, they don’t spending the following spend relentlessly. The translated into forms of experience the abstract pain month to get their finances reason behind this urge is thought.” the way the brands of today of payment. back on track. All for a Urge and happiness were portray themselves. What This gave rise to a momentary happiness!!! born with man, but what he we urge for is not a product, phenomena called Marketers in India have lacked in the old days was a but a personality that the ‘overspending’ or splurging. made a Herculean change in tool through which he could brand has created. The The urge to splurge took their strategies of promoting quantify them and ownership of this over the global scenario like high end products. Samsung understand them. Money is personality is what provides a virus, the United States, launched the Galaxy S4 such a tool that helps us with ‘momentary being the 1st victim. recently in India, which understand the way of life. happiness’. Happiness in According to a recent immediately followed an Money is not evil, neither is today’s world is a short-lived survey made by EMI offer of Rs 3,358 for 12 the urge that precedes it, it is affair between urge and Foxbusiness.com, months, result - the Galaxy purpose that defines good or ownership; satisfying this Huffingtonpost.com S4, although having a price bad. affair requires money, and a ,thestreet.com and tag of Rs 40,300, came into Money is necessary, urge credit card momentarily moneyallocator.com, 52% possession of individuals is innate. removes the money variable Americans are spending whose monthly income was nowhere near Rs 40,000! off the scene.

‘‘ “Money has a power above The stars and fate, to manage love:

Whose arrows, learned

poets hold,

That never miss, are tipped ‘ with gold.” ‘ - Samuel Butler ELDORADO | 2013 money facets 39 WereWere wewe happierhappier withoutwithout money?money? Money never made a man happy yet, nor will it. The more a man has the more he wants. Instead of filling a vacuum, it makes one.

things is understandable, having all the money in the you today, and how do you and is actually good for us. world cannot bring them bless those who need your The worship of material true happiness. blessings? INDRANI DEB PGDM (2012-14) things like money, on the It is a blessing to be able A big question we all other hand, is where the to do things for yourself and need to answer!!! problems arise. When we for others at any given time. The stone age- people elieve it or not money put our desires for money When a person is really rich survived, invented, lived is not an inherently over everything in our lives not only do they have a and enjoyed life. Their Bbad thing. Just as love we start to live a perverse substantial amount of means were different. isn’t really a complicated way of life, whether we money, but they also have Instead of watching thing until people get choose to believe it or not, the ability to bless anyone television, or playing in tabs, involved with it, so is money. and those who do this that they may want to at any or being busy with ipods, The desire for material eventually realize that given time. How blessed are 40 ELDORADO | 2013 money facets

they spent quality time with Today no one is satisfied. Today evena5yearold answer is “No”. Cyber their family. They had fun, Even a billionaire has knows which his toy is and crimes have increased they had parties, only sleepless nights, not because which his brother is. manifold. Hacking, missing were the dark disks what will he eat tomorrow , A 10 year old knows all phishing, identity theft and and the ruthless crowd. Was but for the fear of life loss about the costliest luxury car lots more crimes are the by- that life better, more and tragedy that his and which one to buy and product of the developments soothing?? immense property may thus he is the decision in the IT field. Today the site Each day the Stone Age bring to him. A poor too is maker. facebook, twitter, linkedin man got up, saw his family worried for money, not with Has the value of money etc that we are using, store and went on to hunt and the fear of theft but what increased and price of such details about you serve the family. He came will be his fate the very next human declined? which you might have back and enjoyed the meal day. “Has money brought Lets have a look at how deleted long back but still with his family , enjoyed and luxury or has it created gap some of our industries are they have it. had a good nap till the time and increased jealousy, and handling money matters... Bollywood- this sector the urge for more food came. crime?” IT sector- yes it is the has ultimately made man a Today- modern day man Is money making us base for our growth today. saleable product. The gets up at 7 and the very first today mean minded? We have all the stuff today newcomers in the sector go thing he looks at is his Urge to have more is that was unimaginable a for various unwanted phone. Then he rushes to his natural… decade ago. But does it only options just for their need MNC firm, returns late and have the positive side? The and urge to earn fame, dozes off to sleep. No doubt name, glamour and money. he is earning hefty amount, Nobody wants to stay back much more than the Stone in the race. After all even a Age man but who actually teenager today yearns to had a better life is difficult to have a BMW. answer. Today he earns big Medical-crimes like money for what purpose? organ theft, unauthorized All the effort that man does abortions, and unauthorized is to have a luxurious life but experiments have increased is he really having it? 12 by leaps. Reason is all hours out of home, busy on known to us. Sale of his laptop dealing clients. Is medicines is a business he really happy with no time today. The more you can for family meals, no time for incentivize the doctor the healthy sleep, and no time more sale will you have. for vacations? What are we Various costly tests and running towards? operations are performed on ELDORADO | 2013 money facets 41

a completely healthy person, attached with a lot of times, just for the money today. sake of earning a little more Today to earn there are various such more we are examples around us. building new Education- not to say but factories, new a lot of examinees appearing buildings, new in various exams are apartments for the involved in cheating, to get increasing better marks for a better life population but we and the competition starts are also paying a from there. Various huge price for it. individuals have taken up it The forests, the as a profession to emulate green fields that somebody else to appear in we are damaging exams and give better results today, nature in his client’s name, just for would not be able expected value of the dowry extremely greedy and the sake of earning. Today to replace it. The has risen in some cultures in jealous of ali baba could not all of us know how much innumerable species of recent decades. This accept the news. He too donation we need to have birds, insects, animals, all phenomenon has led to a wanted the gems. He asked for admission in various are losing their home to sharp increase in “dowry his brother to tell him the colleges. It has turned into a build home for us. But don’t deaths” since the 1980s. And address. Ali baba gave him business, a large scale they have a right to live, to the shocking thing is that it the address. Kasim went to business. have their habitat, their still exists in various parts of the cave. Ali baba had told Likewise each field has families. Alas, money has India which takes huge him the rhymes to be recited seen changes and is blindfolded mankind to such pride in its culture and its to open and close the doors. transforming, due to the an extent that the pain of respect for women. At the He recited it and went inside increasing importance these little creatures have same time money has its but alas could never come become invisible or positives too. It has out alive of the cave. His unreasonable for us increased liquidity, it has greed for gems and riches to consider. Many made transactions easier, cost him his life as he forgot such species are made it easy to carry ,etc. the rhymes seeing all the getting extinct, not Thus it is in our hand glitters and riches. He being able to survive whether we want to become wanted to take them all but the changing its slave or whether we want could not even take himself environment. Plants, to become its‘ master. out of there. herbs which may We all might have heard Thus, its very important have undiscovered the story of “Ali Baba and to draw a line on every medicinal values too the forty thieves”. Well Ali temptation. Human life is are being lost. Is the baba was very hard working, very precious. Money is the price we are paying honest, genuine person. He need today but one should too small to was thus once blessed by his never let it be his master, else consider? destiny to have found the as we saw in the story, you Money may even cave of riches. Still he did lose even what you have. destroy relations if not fall prey to temptations Money should never be not handled but the Jeannie at the cave, overvalued and human life carefully. Since long allowed him to take some of should not be devalued. the ‘dowry pratha’ the riches. The poor man has been practiced was very happy but his in India. The brother Kasim, who was 42 ELDORADO | 2013 money facets REAL TIME FOR

WORLD

SANCHIT SAHARIA REAL TIME PGDM (2012-14)

healthy heart is best products or services in you have to use marketing discovered. Your sales will underlying success your industry, but none of strategies to create product steadily increase as the word to your survival, your potential customers or service awareness. spreads. Without employing Athe heart of your would know about it. Without marketing, your marketing strategies, these business success lies in its Without marketing, sales potential customers may sales may not have ever marketing. Most facets of may not happen or even never be aware of your happened; without sales, a your business depend on crash and companies may business offerings and your company cannot succeed. effective marketing. The have to close. business may not be given Increased Sales will result in overall marketing umbrella For a business to succeed, the opportunity to progress increased profits covers Advertising, Public the product or service it and succeed. Using You can have the best Relations, and Promotion provides must be known to marketing to promote your product or service in the &Sales. Marketing is a potential buyers. Unless product, service and world, but if people don’t process by which a product your company provides your buy - it’s worthless. So in or service is introduced and business with a chance reality it doesn’t matter how promoted to potential of being discovered wonderful your new product customers. Without by prospective or service is. The real marketing, your customers. question is - will they buy it? business may Once your No matter how great a offer the product, service or business idea might be, it company gets on still needs a thorough, well- the radar screen of planned marketing program your prospects, it to make it work. A increases your chances marketing program is the that consumers will make a means by which an purchase. As awareness entrepreneur lets his or her becomes a reality, it is also potential customers know business is the point where new just what the new business known in the customers start to spread the has to offer. It is worth the community and have word, telling friends and time and resources required communication with your family about this amazing to make sure your marketing customers readily available, new product they plan meets your needs. ELDORADO | 2013 money facets 43

marketing efforts most effectively. For example, if you know that your product or service is most likely to appeal to traditional families with a high level of disposable income, you can place your ads in the media they are most likely to see. You can A good marketing plan avoid wasting starts with identification of valuable resources putting your business’s target your message in front of audience; an objective consumers who are unlikely commonly achieved using to patronize your business. demographics and The story of successful psychographics. marketing can be seen in Demographics have to do today’s glamour world too, with the physical and such as fashion industry and material characteristics of Hollywood/Bollywood. For your target audience, such as example :all the big names in age, income, education level, fashion world put in sex, ethnicity and vigorous efforts to promote before & after the release. As But no, he was not there in geographic location. their products to target we all know the carefully person, Salman had a Psychographics is related to customers through designed successful recorded message for you the lifestyle attributes of participation in various marketing strategy has led to instead. Salman and his your customers, things like fashion events, minting money by recently team had used a similar hobbies, taste in music, advertisements in high scale released movie Yeh Jawani marketing strategy for social preferences, political glamour magazines & TV. Hai Deewani – Rs.91.47 EkTha Tiger (May 2012). It leanings, etc. During such an crores in 6 days despite a seemed to have worked, Demographic profiling advertisement and product weak story line. since EK Tha Tiger was a helps you identify potential promotion, schemes are Those who catch the blockbuster! Whether people customers most likely to be carefully designed for target Mumbai local train to work, liked Salman or not, they all interested in purchasing the potential buyers. Similarly in were welcomed by Salman remembered that they had to products or service you Bollywood most of the Khan at the station. The watch EkTha Tiger in the offer. That, in turn, makes it cinema directors and actor, whose film Dabangg 2 cinema hall. The superstar’s possible for you to target producers spend lot of released on December voice stayed in the your advertising, money and time on 21,2012 appealed to subconscious of potential promotions and other marketing their movies passengers to go watch it. movie fans and egged them on. In almost every interview to promote ‘Yamla Pagla Deewana 2’, Sunny Deol brings up the point of spending huge amount of money on promotional events. The producers keep the promotional budget ready from the last day of 44 ELDORADO | 2013 money facets

Films are also a device of pull off what may be the creating a nationalized marketer’s ultimate trick: symbol, a common identity, persuading fans to persuade and that’s why a number of each other. products feel proud in The art lies in allowing associating with a movie. fans to feel as if they are These associated market discovering a film, but in forces are immensely helpful truth Bollywood’s new in recovering the cost of the promotional paradigm film, so one can’t really involves a digital hard sell in refuse them which in turn which little is left to chance. makes the poster of the film Recently the glamour visible on cups, mugs and world, Bollywood and cola bottles. fashion industry even Earlier, hand painted educational institutions of posters and billboards repute have successfully worked in favor of the film started aggressive marketing because they were placed at campaign and have again crowded markets, now the proved that well designed internet has replaced them. marketing is a very Twitter, Facebook, Pinterest important tool for any shooting and they have their means the spectators will be and several other social product or brand. The aim of reasons for doing so. We live more dependent on the networking sites give the marketing is to know and in the age of media invasion ‘word of mouth’ publicity. If potential audience a feel of understand the customer so where it is really hard to it is positive then they are being exclusive, which well that the product or recall the exact focus point of likely to follow their earlier eventually begins his service attracts him and sells an advertisement. plan of watching the film association with the film. itself. It’s not enough that we Sometimes we remember a anyway. The dark art of movie do our best; sometimes we slogan and most of the times Salman Khan, Ajay promotion increasingly lives have to do what’s faces, which eventually Devgn and Akshay Kumar nowadays on the Web, required.”The sole purpose makes it a business of brand are successfully repeating where studios are playing a of marketing is to sell more value of a particular actor or themselves. Their success wilier game, using social to more people, more often filmmaker. The attention can be attributed to the media and a blizzard of and at higher prices. There is span of a potential consumer planned media campaign. other inexpensive yet no other reason to do it.” is very less and thus like any Apart from TV and internet effective online techniques to other product the name of promos, these actors (Who the film needs to be thrust are also the producers) on his face, constantly. remind the viewers about Lately, a new dimension has the film at six separate stages been added to this process. at least - first look launch, Now, the promotions keep teaser-trailer launch, music happening for at least seven launch, TV interviews, city days after the release of the tours and quirky videos. film in order to make the It’s not like that the audience believe that the spectators don’t have any film is doing well at the box- other entertainment options office. Cinema is still not but huge media drives considered as the punch in their minds that documentation of time in they need to watch a India and this prompts the particular film to keep pace viewers to take it as an with the happenings. entertainment tool, which ELDORADO | 2013 money facets 45

It’s All about Money

as well as entertainment. considering its past. The can be easily understood This cricketainment as a Indian Premier League (IPL) with the following glittering product to the has changed this perception representation:- MOHIT MARWAH public was bound to and brought the brand in the The revenue model of the BBA (2010-13) generate the buzz and so it same ilk as NBA. IPL is divided among 4 did. The timeslot, innovation The revenue model of IPL categories:- hen Lalit Modi and the new targeted announced the customers all contributed in Warrival of Indian making sure that the Premier League (IPL) in 2008 business of IPL runs for a everyone called it a business longer tenure. gimmick that was bound to The question that still explode sooner rather than lingers in every other later. Today, after six years person’s mind is from where into its existence it stands at does IPL earn so much a brand worth of $3.03 money and who are billion. investing in the product. Over the course of time Cricket has never been what has worked for IPL is known as the mammoth the amalgamation of cricket generator of wealth 46 ELDORADO | 2013 money facets

• Media Rights • Central Revenue • Bid Amount • Franchise Rights The media rights were bagged by Sony-World Sports at an astonishing amount of Rs. 8200 crores till 2017. In IPL 6 the ad rates set a new benchmark in the world of cricket. With the slots of 15 seconds the brands had to squander Rs. 15 lakh. The total revenue generated through advertisements through the broadcasting outlet amounted to Rs. 900 crore alone (approx) this year. UFO moviez have theatre rights, YouTube has live telecast right on the web whereas ITV has the rights for United Kingdom. According to the BCCI revenue model, it is bound to keep 20% from the sale of media, 8% is to be distributed as price money and the rest 72% will be distributed equally among the franchises. It was in this year that Pepsi Co. Bagged the title sponsorship for the next five years with a sum of Rs. 397 crores. The central revenues of the IPL include things like title sponsorship of the tournament as well as licensed merchandise. The revenue generated from this 5% will be used as the prize is inclusive of a total of 9 T-shirts, sponsorship for the stream will be distributed money. teams. team’s merchandise as well among the IPL, franchises The bid amount is The fourth stream for as the gate money. Out of all and prize money in the ratio basically with regard to revenue generation model of this the franchise has to pay of 40:54:6 respectively up to amount that each franchise IPL is the franchise rights. 20% to the IPL and the rest is 2017. Thereafter, there’s has paid to the Indian The things that are included kept with them. going to be an increase in the Premier League. This is a in franchise rights are selling The aforementioned ratio of share of IPL by 10%, massive source of income for advertisement space in the categories just give a the franchise share will drop the IPL as the amounts range stadium, licensing products diminutive view as to how to 45% and the remaining in many million dollars that of their teams in the form of money has been a priority ELDORADO | 2013 money facets 47

with regard to IPL. But, the question of the role of the tagline of its product be broadcasters have been left people who’ve suffered the advertisements in IPL. there before the cricket takes stranded as mere sales men most pertaining to this are There is no oxymoron place. The Karbon Kamaal to the public. the audience that makes sure attached from the above Catch was another Watching the league on whether a product will statement. IPL has made installation in the IPL where telly sometimes loses a survive or not in the sure that cricket comes along fringe players were made to horizontal angle to the ads, mentioned. The audience with an elongated list of give catches to the selected sometimes a vertical angle dictated its decision with advertisements. There is a audience members. These and sometimes both. There regard to the former but MRF blimp hundreds of feet clips kept on arising in are written text flowing all things seem bleak now. above the ground but its between the matches just as throughout the match. As a magnitude stretched every to showcase the brand. viewer you can’t complain Cricket Aficionados other minute by the Strategic timeouts too have much as these brands alone Caught in the Money broadcasters. The wickets hampered the way cricket is are giving the league more Web have been painted with the viewed. than Rs. 110 crores. “Watching the IPL is like title sponsor and the playing The veteran sports Gone are the days when a encountering those post field has at least five carpets broadcaster Harsha Bhogle Sunil Gavaskar drive was modern narratives that seek where different too said a few seasons back celebrated with a touch of to satirise consumerism.” advertisements are that he was given a huge innocence. Gone are the days This was what Rahul displayed. endorsement list that was when a Rahul Dravid eyes Bhattacharya had to say Then, there is the title meant to be used while the were viewed with regard to when encountered with the sponsor who made sure that game was on. The the one of the monk. Gone are the days when a Kapil Dev would thronged the entire nation with his simplicity. Today, IPL has become more lucrative for the corporate world but has lost its sheen when it comes to its viewers. Today, we see IPL as a business venture and not a cricket entity. Henry Ford once quoted, “Abusiness that makes nothing but money is a poor business.” Maybe, there’s a clue for IPL by the man who made a huge impact in this world for so many decades. It’s time for the Indian Paisa League to start promoting the sport through which it’s earning so much money. 48 ELDORADO | 2013 the humane factor

Automated HR-

Extracting the Most ABHISHEK DIKSHIT PGDM Gen (2012-14)

ow it would be, if in effective decision making not complete the amount of productivity and employee the human for other tasks. work needed to keep the job satisfaction while resource of the One of the most difficult business afloat. Scheduling reducing costs. However, the Horganizations will be tasks in running a business issues regarding personnel larger and more diverse the managed by Automatic is scheduling personnel to has the ability to reduce company, often the more Scheduling software not by a cover all shifts that occur at moral within the company difficult and less effective H.R. Manager. The software the business. Without the and cause problems with this exercise will become. manages employees who are proper amount of personnel completing work at the This issue spreads across all working into a number of in place, the business cannot facility in a timely manner. areas within the consultancy projects and gives a schedule function effectively and will As human resources are industry such as the law of their working days of a the largest sector, the IT sector and the month into different projects Bogged down in shift scheduling? expenditures engineering sector. Hence in .It distributes the employees consulting order to utilize your in such a manner that they companies consulting staff in the most all receive an equal amount have to make; efficient manner, it is of pay at the end of the hence it is imperative to use the working period i.e. best important that support of a strong value out of them. An H.R. they use them consultant scheduling Manager may have efficiently and software. semblance of this attempt, get best value Law firms like First made to snatch his bread but out of them to Defense Legal Aid(FDLA) in reality this will help him Try Automatic Scheduling Software increase Chicago with 3 paid ELDORADO | 2013 the humane factor 49

employees and over 100 department schedule in real number of IT resources that “EmployWise(TM)” It has volunteers. They have 2 time, sync the schedules and are required to be sent out allowed them to constantly shifts a day, every day of the access schedules from for temporary staffing be changing their schedule year: 6am-6pm and 6pm- mobile platforms. It also purposes or to be utilized for and let the employees and 6am. Because most gives the ability to trade and advisory purposes either in managers know what the employees are volunteers, pass off shifts easily. With the short or long term. Such current schedule is. we allow them to choose the this work scheduler we have visibility over the future Operational functionality shifts when they are a lot less work for managers allows for wiser staffing and of this software is based on available. It has been a and more self- costing decisions. Therefore Genetic algorithm in which challenge to let them know responsibility/activation for a suitable forecasting a type of Genetic Algorithm which shifts are open and team members to manage resource planning and derivative called ‘Population which are covered at any their schedules. scheduling tool will help in Based Incremental Learning’ given time without a public Thus a resource planning meeting demand to supply is used. calendar to view. Their and scheduling tool will and reducing any output This software calculates previous employee help in allocating the right gap. the schedules and tries to scheduling system consisted type of resource to each Engineering consultancy find schedule with the best of lots of emails and phone specific project, cutting cost firms likeAvista Rentals, San fitness. So we can say if the calls and repeated emails to and increasing output. Francisco they were using an project is properly tuned to say “Sorry, that shift is In the case of an IT Excel spreadsheet that specific company then it can covered, is there another that consulting firm some of the would go out to our come as very handy tool for works for you?” Frustrating duties performed are employees on Fridays of the cost cutting, ultimately for the volunteers and time required to either provide week before. The biggest money saving. consuming for the staff. professional advice, act as issue with that is that they After implementing HR temporary staffing options would not be able to really scheduling software like for IT firms or to outsource keep it up to date as the “ShiftPlanning” employee all or part of IT services. week went on and things scheduling tool has enabled Thus managers would want changed. Since HR them to view their entire to be able to forecast the scheduling software 50 ELDORADO | 2013 the humane factor

expectation” a free program before vehicle delivery. for teen drivers and their Winners may also be asked parents.The goal is to to participate in a vehicle proactively take American delivery ceremony at a youth through safe driving Toyota dealer in their local experience area. Do they have to pay In 2008 Toyota launched taxes on the car? Consult green a 20 million $ alliance with your tax advisor to with Audubon to fund determine any applicable tax conservation project, train implications in your state. environmental leaders and Toyota vehicles included offer volunteer opportunities in this program are: to significantly benefit the • Highlander environment. • Prius v Toyota 100 cars for good • Tundra (only for U.S.A) it is a • Sienna facebook enabled • Sienna mobility philanthropy where by (equipped for wheelchair Toyota will give away 100 access) cars to 100 non profitable • Camry hybrid charity organization in 100 Criteria to determine days. This vehicle can be winner - Out of 5000 particular important in eligible organization 500 enhancing the reach and NGO will be selected. Of efficiency of good work. It these each day 5 NGO will has launched in 2011. Now compete for no. of votes it’s for second consecutive received at Facebook and world wide sales at Toyota year in 2012. whoever receives the highest rose 23% to a record 9.75 votes will win a car .The four million units in 2012 that How and when does runner up of each day will SAHIL BATRA compares with 9.29 millions organization apply? get 1000$. PGDM (2012-14) units sold by GM 9.07 Organization will apply Result-It created good million units at Volkswagen. through submission on their image among people about oyota Motor Since 1991 Toyota has website. Last date of Toyota. Every NGO tried to Corporation was contributed an over a half a application submission is 26 win a car. So selected NGO founded in Japan on billion dollars to March 2012 or until 5000 shared status on their T philanthropic programs in completed application has 28 August 1937 by Kiichiro facebook page to appeal for Toyoda .The world US. Toyota support program been received vote.It created lot of headquarter of Toyota Motor focused on enviromental, Time period for whole publicity for Toyota. For Corporation is located in education, safety initiative example –donate life program Aichi Japan. Toyota U.S.A that help strengthen diverse America shared status of 9th May 2012-16th Aug 2012 operation is located in community across the U.S UNYTS “appeal to vote”. Only those organization can Torrance, U.S.A. Toyota for today and for the Donate life America has apply that are tax exempt main business activities are future.Toyota proud to more than 90000 likes that under internal revenue code vehicle production and partner with non profit means 90 thousand people in section 501© and registered sales.Some of Toyota organization in local just one share got in 50 U.S.A states and products are Liva, Etios, communities where they live information about that CSR Washington d.c Innova, Camry etc. Toyota and work. activity. Also around 20 -30 Vehicle winners must pay beats GM and VW back as In 2004 Toyota created a people shared that status. for vehicle registration and no.1 car maker in 2012, “Toyota driving provide proof of insurance ELDORADO | 2013 brainteasers 51 BusinessBusinessQuizQuiz

Q1. The Reserve Bank of India 4. Both 1 & 3. 1. Free Trade Agreement (FTA). takes which of the following 5. All the above. 2. Preferential Trade Agreement measures when it intends to (PTA). Q4. Consider the following ease the liquidity crunch in 3. Comprehensive Economic statements in respect with the country? Cooperation Agreement FCRA: A. It prints and supplies (CECA). A. It stands for Forward additional currency notes in 4.Bilateral Investment Contract Regulation Act. the market. Protection Agreement (BIPA). SUMIT SAXENA B. In commodity exchange in PGDM (2012-14) B. It takes steps to increase the 5. None of these. India, Index futures are not flow of foreign direct permitted, as some of the Q8. Consider the following types investment. 4. Roche. provisions of the FCRA do not of loans: C. It reduces Statutory Liquidity 5. None of these. allow the same. A. Home Loan. Ratio (SLR) and Cash Reserve C. It came into existence in B. Personal Loan. Q11. The ad line “Express Ratio (CRR). 1952. C. Reverse Mortgage Loan. Yourself” is connected with 1. Only A. 2. Only B. 1. Only A. 2. Only B. D. Crop loan. the tourism of which state? 3. Only C. 4. Only A & C. 3. Only C. 4. Only A & B. Teaser Rates are associated 1. Kerala. 5. All A, B, C. 5. All. with which of the above 2. Karnataka. Q2. Which of the following mentioned types of loans? 3. Andhra Pradesh. Q5. Which of the following statements is/are true about 1. Only A. 2. Only B. 4. Tamil Nadu. countries cancelled the $500- Delhi Government‘s 3. Only C. 4. Only A & B. million contract of GMR group Q12. Which newspaper has the ambitious project to make 5. Only C & D. to operate an International motto- Journalism of Delhi a kerosene free state? Airport? Q9. With the strong participation Courage? A. All BPL, AAY and JRC card 1. Myanmar. from foreign investors, the 1. The Guardian. holders who were getting 2. Sri Lanka. Government managed to mop 2. The Times of India. kerosene from the PDS shop 3. Maldives. up Rs.6000 crore from the 3. The Indian Express. in the capital will be 4. Bangladesh. sale of its 10% stake in which 4. The Statesman. beneficiary of this scheme. 5. None of these. of the following companies? B. The beneficiary families will Q13. Consider the following 1.National Mineral get free LPG cylinders and gas Q6. According to the Union Rural companies: Development Corporation stoves under this scheme. Development Ministry, caste A. Industrial Power Utility Ltd. (NMDC). C. The scheme at a cost of over census-based BPL list will be B. Veltina Holdings Ltd. 2. Neyveli Lignite Corporation Rs. 100 crore will make Delhi prepared by July 2013. The C. PT Itamaraya Tbk. Limited (NLCL). the first kerosene free state in current BPL list was prepared D. Af-Taab Investment Co. Ltd. 3. Hindustan Aeronautics the country. in which of the following Which of the following Limited (HAL). 1. Only A. 2. Only B. years? companies has the Holding in the 4. Bharat Heavy Electrical 3. Only C. 4. Only A & C. 1. 2001. 2. 2002. above mentioned companies? Limited (BHEL). 5. All A, B, C. 3. 2005. 4. 2011. 1. Reliance Industries Ltd. 5. None of these. 5. None of these. 2. Hinduja Group. Q3. Which of the following Q10. Which of the following British 3. Tata Power Co. Ltd. practices by a bank will be Q7. Under which of the following Multinational pharmaceuti- 4. Videocon Industries. termed as “cross-selling”? agreements have the cals companies had denied 1. Selling a housing loan to a aggrieved foreign investors, Q14. T h i s c o m p a n y w a s patent cover for its lung deposit customer. who have invested in the incorporated on Dec. 24, 1949 cancer drug Gefitinib? 2. Selling a deposit product to a telecommunication sector as Hindustan Electric 1. Astra Zeneca. personal-loan customer. companies, served notice to Company Ltd. In 1965, its 2. Johnson & Johnson. 3. Selling a credit card to a debit Indian Government for claim name was changed to 3. Pfizer. card holder. of damages? Hindustan Brown Boveri 52 ELDORADO | 2013 brainteasers

Limited (HBB). The company is Q18. “Looks formal, feel casual” is Q23. Member countries of fund. What does COP stands the leading supplier of the tagline of which apparel European Union have agreed for? Industrial robot software, brand? to authorise European 1. Convention of Participants. peripheral equipments, 1. Mango. 2. Crocodile. Central Bank (ECB) to 2. Conference of Parties. modular manufacturing cell, 3. Gucci. 4. Tibre. supervise biggest banks of 3. Conference of Participants. etc. the Euro Zone w.e.f. 2014. 4. Code of Parties. Q19. Delhi government has 1. Infosys. ECB is located in: decided to start which of the Q27. What is OPEX 2012? 2. WTI Advanced Technology 1. Brussels (Belgium). following food security 1. A joint exercise between Limited (India). 2. Luxembourg (Luxembourg). scheme covering about two India & USA. 3. ABB India. 3. Strasbourg (France). lakh families, which will be 2. A joint naval exercise 4. Tata Consultancy Services. 4. Frankfurt (Germany). paid a monthly sum of between India & Russia. 5. CMC Limited (India). Rs.600 each? Q24. Which of the following 3. Indian Govt’s operation to Q15. In May 2005, this company 1. Annapurna. banks, based in the UK, is all prepare athletes & team for acquired Belgium based 2. Antyodaya. set to pay $1.9 billion to London Olympics 2012. Pauwels Group and became 3. Annashree. settle a US money laundering 4. None of these. amongst the top ten 4. Annadata. probe in a bid to avoid a Q28. The base year for the new electrical transformer 5. None of these. protracted legal battle? CPI series (U+R) introduced manufacturers in the world. 1. Barclays. Q20. DBS bank is based in which by CSO on January 2001 is: It is the part of USD 4 billion 2. Standard Chartered. of the following countries? 1. 2004-05=100. Avantha Group. It is an 3. HSBC. 1. UK. 2. 2010=100. Indian multinational engaged 4. Provident Financial. 2. Singapore. 3. 2011=100. in design, manufacturing and 5. Royal Bank of Scotland. 3. Taiwan. 4. 2001=100. marketing of products 4. South Korea. Q25. Government has asked related to power generation, Q29. According to Environmental 5. None of these. which of the following Co- transmission & distribution. Performance Index 2012, operative Mill Marketing Name the company? Q21. What is the current rank of what is India’s ranking? Federations to submit a 1. Crompton Greaves. India in Corruption 1. 94. 2. 112. proposal for the takeover of 2. General Electricals. Perception Index 2012 3. 122. 4. 114. Delhi Milk Scheme? 3. Ispat Industries. released by Transparency 1. Gujarat Co-operative Milk Q30. Which one of the following 4. GVK Power Ltd. International (TI)? TI ranks marketing Federation. pair is not correct? countries and territories Q16. In 2008, this company 2. National Dairy Development 1. Competition Act, 2002. based on how corrupt their acquired Anheuser-Busch Board (NDDB). 2. Advocate Act, 1961. public sector is perceived to Companies, Inc. by paying 3. Bihar State Milk Co- 3. Legal Services Authority Act, be. the consideration of $ 52000 operative Federation Ltd 1987. 1. 43. 2. 69. million. Identify the acquirer (COMFED). 4. National Litigation Policy, 3. 72. 4. 94. company? 4. Pradeshik Cooperative Dairy 1990. 5. None of these. 1. Pfizer. Federation. 5. None of these. 2. Johnson & Johnson. Q22. Which of the following state Q26. At COP 17 held in Durban, 3. InBev Inc. government has launched South Africa, the COP 4. BellSouth Corporation. Saral Money debit card established a Green Climate facilitating every Aadhar Q17. Name the Indian SUV which Fund (GCF) under the number holder with an is inspired by Cheetah in its Convention to support account in a bank? styling (as per company’s ad projects, programmes, 1. Delhi. campaign)? policies and other activities 2. Gujarat. 1. Mahindra XUV 500. in developing nations. The 3. Uttar Pradesh. 2. Honda CRV 500. fund will start operating 4. Bihar. 3. Mahindra Scorpio. from 2013 where developed

4. Toyota Land Cruiser Prado. nations will provide the

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