Editor's Desk''Imagination is more powerful than invention'' -Albert Einstein

“The imagination is man's power over nature'' - Wallace Stevens

Imagination is the mind's power to travel across the seamless ocean of thoughts – a catalyst that nurtures the creative, abstract 'unplugged seeds' into a beautiful flower. Imagination is a limitless expanse that traverses the horizon and reaches a place where time comes to a standstill. It is the wonderful gift bestowed upon humanity - this alchemy weapon sharpened by faith and innovation can sparkle our world. It lets us fly amidst the rugged terrain of hurdles and wonderfully transfers us into the world of dreams-cementing the path of success, breaking all the barriers.

We-The IISWBM family, proudly welcome you all to take a peek at 'E-Magine' an initiative brought out by the class of MHRM 2011-2013 at Indian Institute of Social Welfare and Business Management(IISWBM).

The e-magazine charms the readers with a view of the corporate world and also to provide a food for thought in the domain of management with enriched ideas powered by well crafted explanations. So get ready to groove, buckle up to experience the management world though the eyes of young, budding managers.

This journey would not have started without the support of the esteemed faculty, who constantly motivated us through thick and thin. Thoughts found a new dimension when expressed through articles and sketches.

We could not have reached our destination without the contributions of everyone who made the e-magazine finally come true.

Please do not hesitate to critically examine us at edcomm.mhrm@gmail.com with your valuable feedbacks and suggestions.Happy Reading!

Love and regards,

Team Ed-Com – Bhaskar Ghosh, Sohini Sircar, Priyanka Dam and Shaini Sarkar.

THE GOLDEN MEMORIES AT MHRM, IISWBM

MHRM, IISWBM is like my identity, it's who I am…..whatever I am, and will be…belonging to IISWBM and the department of MHRM. I feel extremely proud to be an MHRM-ite, a feeling which is, needless to say, shared by each and every MHRM-ite. No need to mention that I personally never miss the dept simply because I never disassociated with it! Its still very much a part of me, and would be, for the rest of my life, as long as I work…as long as I live!

The benches, the classrooms, the canteen and the blue room…all are so fresh that it seems just yesterday that I graduated from the institution. The lectures never seemed boring, due credits to our faculties. The friends I made at MHRM are some of the best friends I have ever made…and I continue to do so as the batches keep adding. Its like one big growing family!

The fun we had apart from the tremendous learning, not just academically, but also what I have gained as an individual is priceless. As I said, it made me who I am today, defined what I am going to be for the rest of my life. What I owe to the department of MHRM, IISWBM is very precious, and cannot be just so simply be explained or expressed in words…it can just be felt…a feeling which all MHRM-ites have in common and something that binds them together.

-VIVEK KUMAR VARMA (MHRM, 2004-2006)CURRENTLY WORKING AT SIEMENS I.T. SOLUTIONS IN THE CORPORATE HR DEPARTMENT

HANDLING COMPENSATION AND BENEFITS AND POLICIES.

HOW THINGS CHANGED...STATE OF SERENDIPITY

After a long and tedious four years of engineering college, you feel rejuvenated, vitalized and full of life. You feel like you can conquer the world and make, break or take anything out of any other. My story was a little different. Engineering college was the last place on earth i would ever wanted to be stranded in. After joining my institute, IISWBM, the first day i felt a sense of serenity. I didn't expect much...Sighs... Well, frankly, i expected a lot. I wanted everything to be at par with whatever idea i had about a very fancy antique place. Funnily, it was nothing like how i had thought it to be. I would have complained about every nook and corner... but i couldn't. Nothing was antique at all! Everything was furnished, developed and very much up-to-date! The professors were very much at par with the highest levels of knowledge. The balance was perfect. It wasn't a place trying to be ahead of time, it was a place which had already established itself with time. It was very contrasting with my thoughts and my image of the first B School in Kolkata. The formal welcomes, the cold chilling gush of air when i first opened the auditorium door, the odd silences, everything seemed to disappear within a week. Everything started to seem friendlier, things you could get used to regularly and would miss it when they are gone. It was something i have experienced before, in a similar way, but never thought i would actually like it, in a way much different.

-BHASKAR GHOSH (MHRM, 2011-2013)

CROSSING OVER

A persistent pining for time, for the place, where you belonged for 5 whole years can be engulfing. It can strike you at the strangest of times. Something that happened on the very first day, that one was to start something completely new at IISWBM. Do I have an issue about 'letting go'? May be. But it is hard too, to let go of all those memories of association with a place, utilizing sight, sound, smell and such. A constant tugging at one's heart, the moment one entered. Sense organs going crazy, comparing of course, soaking in every available details-from the grand view from the 4th floor, to the archaic building with its no-nonsense ambience, to the person sitting next to you. The desire to fit-in is like the hunger of a street urchin unfed for days.

Today as I sit back to think of the few months at IISWBM I can't help thinking two years is too little a time. The clock keeps gnawing on time even as one struggles to keep up. Yet I know things for certain. Those memories would be conjured long before one can consciously colonize the memory-maker. And that in fact spreads a certain kind of warmth though the body, of a sense of belonging perhaps, where you know retrospection will fill you with a sense of satisfaction of times well-spent, a great many moments to walk with you in your journey forward.

-SOHINI SARKAR (MHRM, 2011-2013)

THE ROLE OF WOMEN ENTREPRENEURS IN INDIA

In a world of Indra Nooyi, Anu Aga, Simone Tata we might sit back and feel complacent about the coming of age of the Indian woman however we do have a long way to go. A Women Entrepreneuris a person who accepts challenging role to meet her personal needs and become economically independent. She must have the desire to do something positive both for the society at large as well as her family life. However women are faced with specific obstacles that need to be overcome in order to give them access to the same opportunities as men. In some countries, women may experience obstacles with respect to holding property and entering contracts. Increased participation of women in the labour force is a prerequisite for improving the position of women in society.

The role of Women Entrepreneur needs to be considered in the economic development of the nation for various reasons...

Women Entrepreneur has been recognized during the last decade as an important untapped source of economic growth. They create new jobs for themselves and others and by being different also provide society with different solutions to management, organization and business problems as well as to the exploitation of Women Entrepreneurial opportunities. However, they still represent a minority. There exists a market failure discriminating against Women possibility to become Women Entrepreneurs and their possibility to become successful Women Entrepreneurs. This market failure needs to be addressed by policy makers so that the economic potential of this group can be fully utilized. While without a doubt the economic impact of women is substantial, we still lack a reliable picture describing in detail that specific impact such a measure. Recent efforts initiated by the OECD (1997, 2000) are responses to this lack of knowledge.

Women Entrepreneurship has been largely neglected both in society in general and in the social sciences. Not only have women lower participation rates in Women Entrepreneurship than men but they also generally choose to start and manage firms in different industries than men tend to do. The industries (primarily retail, education and other service industries) chosen by women are often perceived as being less important to economic development and growth than high-technology and manufacturing.Furthermore, conventional research, policies and Proposals tend to be “men streamed” and too often do not take into account the specific needs of Women Entrepreneurs and would-be Women Entrepreneurs. As a consequence, equal opportunity between men and women from the perspective of Women Entrepreneurship is still not a reality. In order to realize the benefits of policy changes it is important to incorporate a Women Entrepreneurial dimension in considering all SMEs and growth policies (e.g. meeting Women financing needs at all stages of the business continuum; take-up of business development and support services; access to corporate, government and international markets; technology access and utilization; R&D and innovation; etc.). Moreover this means periodically evaluating the impact of these measures on the success of women-owned businesses and exchanging good models and best practices, through cooperation with leading international organizations such as the OECD, European Union, APEC, UNCTAD and the ILO, in order to continually improve policies and Proposals.

Better qualitative information and quantitative data and statistics are required to profile Women Entrepreneurs (demographic information, barriers to start-up and growth). This would also assist in promoting awareness of the role of Women Entrepreneurs in the economy. Using a frame of reference such as that developed in the report could be valuable for the analysis of this information.

It is observed that Women Entrepreneur networks are major sources of knowledge about Women Entrepreneur and they are increasingly recognized as a valuable tool for its development and promotion. Policy makers must foster the networking of associations and encourage co-operation and partnerships among national and international networks and facilitate Women Entrepreneurial endeavors by women in the economy.

The challenge of world class competition and the attempts at globalization and Liberalization has tremendously altered the business environment of firms in India. In contributing to the working of any firm in India, be as a policy maker or as a person doing business with a firm in India or as a marketing practitioner or as an academician, it is important to understand how practically the firms have taken measures to combat the onslaught of these challenges.

What new turns have been made in the actual working system of Women Entrepreneur? In other words, an understanding of the exact nature of the paradigm shifts in small and medium enterprises. That is, from the point of view of an individual firm in India, how the challenge of the shifting economic environment been perceived and what new efforts have been adopted towards managing these challenges?

From the above passages, it is worthwhile to mention the major recommendations contributed by the researchers from the wide-ranging study about Women Entrepreneur were summarized below:

1. Increase the ability of women to participate in the labour force by ensuring the availability of affordable child care and equal treatment in the work place. More generally, improving the position of women in society and promoting Women Entrepreneurship generally will have benefits in terms of Women Entrepreneur.

2. Listen to the voice of Women Entrepreneurs. The creation of government offices of Women business ownership is one way to facilitate this. Such offices could have programmed responsibilities such as providing Women business centres, organizing information seminars and meetings and/or providing web-based information to those wanting to start and grow a business.

3. Incorporate a Women Entrepreneurial dimension in the formation of all SME-related policies. This can be done by ensuring that the impact on Women Entrepreneur is taken into account at the design stage.

4. Promote the development of Women Entrepreneur networks. These are major sources of knowledge about Women Entrepreneur and valuable tools for its development and promotion. Co-operation and partnerships between national and international networks can facilitate Women Entrepreneurial endeavors by women in a global economy.

5. Periodically evaluate the impact of any SME-related policies on the success of women-owned businesses and the extent to which such businesses take advantage of them. The objective should be to identify ways to improve the effectiveness of those that should be retained. Good practices that are identified in this way should be disseminated and shared internationally.

6. Improve the factual and analytical underpinnings of our understanding of the role of Women Entrepreneurs in the economy. This requires strengthening the statistical basis for carrying out gender-related cross-country comparative analyses and longitudinal studies of the impact of important developments and policies, especially over time.

7. Women Entrepreneur is dependent on both demand side (political and institutional framework, family policy and market sources) and supply side factors (the availability of suitable individuals to occupy Women Entrepreneurial roles).

8. Women Entrepreneur depends on both the situation of women in society and the role of Women Entrepreneurship in that same society. Both the factors that affect the gender system and the factors that affect Women Entrepreneurship in society are involved.

CONCLUSION

In a nutshell, the Specific obstacles to Women Entrepreneur are: type of education, lack of role models in Women Entrepreneurship, gendering of Women Entrepreneurship, weak social status, competing demands on time and access to finance. Hence ,Women Entrepreneur must be examined both at the individual level (i.e. the choice of becoming self-employed) and at the firm level (the performance of women owned and managed firms) in order to fully understand the differences between men and Women Entrepreneur, since they play an effective role for contributing a mite to the economic development of the country.

-AMBREEN IQBAL (MHRM, 2011-2013)

WHITE COLLAR CRIME

For generations we Indians have been quite conscious of low-level fraud. Some of us remember our grandmothers watching with a hawk eye to make sure that the milkman did not dilute the milk with water. But what about corporate fraud involving thousands of crores of rupees? This seemed to be the domain of Enron-types, fast-moving wheeler-dealers, who had secret bank accounts in tiny countries; till the Satyam fraud exploded on India's consciousness. And then the entire country as well as its business world was exposed to this thing called WHITE COLLAR CRIME (WCC).

They are the best-kept, dirty little secrets in business-multimillion-dollar frauds perpetrated by high-level executives who are given the boot at one company, only to resurface at another with even bigger schemes in mind. White-collar crime tugs at the bottom line of every company, from midsized restaurants and lumberyards to big corporate houses and multicrore worth enterprises. Many companies sweep white-collar crime under the rug, rather than risk a blemish on their reputation or brand value. Meanwhile, the frequency and severity of fraud is growing. Business trends, such as globalization and mergers and acquisitions, and an unforeseen offshoot of the robust economy-perceived wage inequities and the envy it breeds-are widening corporate vulnerability. White collar crimes cost the company huge losses and the cost is staggering, with the average organization losing 6 percent of its annual revenues to employee fraud. Add it up and the price tag is about $400 billion annually, says the Association of Certified Fraud Examiners (ACFE).

The phrase "white-collar crime" was coined in 1939 during a speech given by Edwin Sutherland, a sociologist of the symbolic interactionist school, to the American Sociological Society.

Sutherland defined the term as "crime committed by a person of respectability and high social status in the course of his occupation."Symbolic interactionism, a sociological perspective, examines the creation of personal identity through individual and group interactions, and relationships. Sutherland defined the Differential Association Theory, to explain how deviants learn motivation and technical knowledge for deviator criminal activity. Sutherland embraced the Interactionist Theory of Deviance, focusing on how people learn to be criminals. He believes criminal behavior is learned from interpersonal interaction with others.

‘’The people of business world are probably more criminalistic than the people of

slums.'' -Donald Cressey

White-collar crime is not a classic, clear-cut case of deviance. It has one foot in conventionality and one foot in deviance. Most of us hold the conception that "crime" is what street people, or at least poor people, do. Thus, there is a certain incongruity in seeing an affluent, 60 year-old banker in handcuffs and a prison uniform. There are some specific characteristics that are identified with White Collar Crimes (WCC).

£ WCC differ from other crimes by virtue of being non-violent acts committed by corporate held in high esteem.£ WCC are committed by people with sophisticated understanding of the disciplines of

finance, management, engineering, medicine, organizational theory, information technology, etc. £ WCC tends to be intermingled with legitimate behavior.£ Victimization tends to be diffuse. Harm is not always conceptualized or identifiable as

such because it is usually spread out over a substantial number of victims.£ Top management does not have to "get their hands dirty" by directly ordering

subordinatesto break the law. It is not difficult to structure their affairs so that all of the pressure to break the law surface at a lower level of their organization or a subordinate organization.£ Relative to their incidence, arrests are very rarely made.The Federal U.S. Sentencing

Commission found that for white collar crimes prosecuted by federal courts between 1984 and 1987, sentences against convicted corporations tended to be extremely light; nearly half entailed a fine of $5,000 or less, 80% were fined $25,000 or less, and even probation against executives was imposed less than one-fifth of the time. Jail or prison time tends to be almost nonexistent.

WCC occurs as a deviation from the violator's occupational role. Such crimes are corruption, corporate fraud, public fraud, tax evasion, goods smuggling, stock manipulation, currencies forgery, credit card fraud, environmental crime, intellectual property infringement and the more recent phenomenon of cyber crime. Some common types of WCC are:

£ CELLULAR PHONE FRAUD: The unauthorized use, tampering, or manipulation of a cellular phone or service. This can be accomplished by either use of a stolen phone, or where a person signs up for service under false identification or where the actor clones a valid electronic serial number (ESN) by using an ESN reader and reprograms another cellular phone with a valid ESN number.

£ COMPUTER FRAUD: Where computer hackers steal information sources contained on computers such as: bank information, credit cards, and proprietary information.

£ COUNTERFEITING: Occurs when someone copies or imitates an item without having been authorized to do so and passes the copy off for the genuine or original item. Counterfeiting is most often associated with money however can also be associated with designer clothing, handbags and watches.

£ DECEPTIVE ADVERTISING: Involves unjustified claims about a product (telemarketing) and induces the public to invest in products that do not have the desired effect

£ FORGERY: When a person passes a false or worthless instrument such as a check or counterfeit security with the intent to defraud or injure the recipient.

£ INSIDER TRADING: When a person uses inside, confidential, or advance information to trade in shares of publicly held corporations.

£ INSURANCE FRAUD: To engage in an act or pattern of activity wherein one obtains proceeds from an insurance company through deception.

£ INVESTMENT SCHEMES: Where an unsuspecting victim is contacted by the actor who promises to provide a large return on a small investment.

£ MONEY LAUNDERING: The investment or transfer of money from racketeering, drug transactions or other embezzlement schemes so that it appears that its original source either cannot be traced or is legitimate.

£ SECURITIES FRAUD: The act of artificially inflating the price of stocks by brokers so that buyers can purchase a stock on the rise.

£ TAX EVASION: Income tax evasion is perhaps the most common category of WCC committed by individuals against the government. The amount of tax monies lost every year due to unreported or under-reported income, padded expenses, and so-called "charitable" donations--which are often nothing more than tax shelters for the rich--would be impossible to calculate.

What contributes to fraud? The survey of 959 cases of fraud investigated between January 2006 and February 2008, found the greatest fraud contributor was a lack of internal controls, followed by a lack of management oversight and an override of existing controls. Fraud experts describe the “fraud triangle,” where incentive, rationalization, and opportunity collide to induce theft.

Incentive occurs when employees face financial difficulties such as high debt, gambling problems, or drug abuse.

Rationalization can arise easily — an insult, staff reductions, a demotion — creating a feeling by employees that management “owes” them.

Opportunity occurs when inventive employees find loopholes in your system and exploit them. When incentive and rationalization meet opportunity, only bulletproofed businesses can avoid or withstand the loss.

The Causes have been identified as:

i) GREED OR NEED- A person's lust for money and power is enough to awaken criminal tendencies in him. This is a major folly of human nature. However with regards to an organization, plain need or want of a human being cannot be solely blamed. Top level Management's incapability to provide suitable motivational tools to its employees is also to be blamed. When an employee realizes that the management isn't providing any opportunities to him for fulfilling his needs and wants he may start finding them on his own. This is where the first seeds of crime in the workplace are sown and it doesn't take much time for it to grow into a larger more graver criminal deeds.

ii) CORPORATE CULTURE THEORY- When socio-economic crimes are committed people tend to tolerate them because they themselves indulge in them and they themselves often identified with those who do so. The victims of socio economic offences are normally the entire community, society or even the entire nation besides the individuals. These crimes do not involve or carry with them any stigma while the traditional crimes carry a stigma with them involving disgrace and immorality.

iii) SELF-CONTROL VIEW- Quick benefits with minimal effort. That is what the World believes today. Who wants to slog day and night year after year for that raise in salary or for achieving that particular sales or profit target! Why waste time energy and resources when shortcuts are already available?!And since everyone today follows the same ideologies we prefer not to diagnose this as a wrong and unrighteous way of life. But isn't this another wind to the fire of greed and lust of an individual? Such a view of life perpetrates crime.

iv) POWER AND POSITION- Money is not the only motive for engaging in white-collar crime. Often political power is the goal. In the 1950s and 1960s, when the Federal Bureauof Investigation (FBI) illegally broke into offices of left-wing political organizations, enhancing power was the objective, not money. The entire Watergate affair was oriented toward enhancing power.

The legacy of India's corporate corruption rests in the archaic tax regimes that Nehruvian socialism encouraged. The tax rates were abysmally high and there was no way that corporate India could have grown at the pace it finally did without tax evasion.The tax regime that existed ensured that tax evasion was all pervasive: rigid excise structures and concurrent corruption in the regulatory bodies ensured a home run for all those who practised this form of corruption.Industries such as tobacco benefited and continue to benefit from these tax evasions.

Since the 1990s, tremendous growth of and involvement in the securities and commodities markets at the institutional, corporate, and private investor levels have led to great numbers of individuals involved in intentional corporate fraud and misconduct, particularly senior corporate executives.

Rigid excise structures and concurrent corruption in the regulatory bodies ensured a home run for all those who practiced this form of corruption. Industries such as tobacco benefited and continue to benefit from these tax evasions.

With the increase in the number of business transactions combined with the lack of effective monitoring, frauds are real time threats for most corporates in India. Undetected crime followed by anti fraud measures and unethical behavior of employees has led to the increase of White Collar Crimes in corporate India.

There has been a rise in the number of fraud victims from the last survey done by KPMG, (a global consulting firm in India) in 2006(39%). This time more than 80% respondents accepted that fraud is a crisis and 70% of respondents believe that it will increase in coming two year.

There are some ways of combating white collar crime, they are -

Ÿ Specialized training in the areas of economic and computer crime, as well as computer forensics, needs to be continued for law enforcement personnel at the Federal, state, and local levels.

Ÿ Instituting a hotline for reporting fraud, from employees, vendors and customers.

Ÿ Watching for the behavioral traits.

Ÿ The two most common are employees experiencing financial difficulties and those living beyond their means.

Ÿ An eye can be kept on employees living a lifestyle in excess of their salaries.

Ÿ Setting up internal controls and referring employees to employee assistance, if the organization offers this benefit.

Ÿ Keep up with paperwork, because unreconciled invoices, unrecorded payments or disorganized shipping and receiving bills can allow theft to go undetected for long periods.

Ÿ Segregate duties. For example, the employee who deposits money should not be the employee who reconciles the checkbook.

Presently, legislation to deal with such offenders is specifically intended to deprive offenders of the proceeds and benefits derived from the commission of offences against the laws of the country. It provides for the confiscation or forfeiture of the proceeds or assets used in connection with the commission of certain crimes. The concerned Acts in Indian legislation are:

(i) Criminal Law (Amendment) Ordinance, 1944;

(ii) Customs Act, 1962 (Sec. 119 to 122);

(iii) Code of Criminal Procedure, 1973 (Sec. 452);

(iv) Smugglers & Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976;

(v) Narcotic Drugs & Psychotropic Substances Act, 1985 (Sections 68-A to 68-Y);

(vi) In addition, Indian statutes also contain provisions for preventive detention of foreign exchange racketeers under the Conservation of foreign Exchange and Prevention of Smuggling Activities (COFEPOSA) Act, 1974, and of the drug traffickers under the Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic substances (PITNDPS) Act, 1988.For this purpose, the Government of India has set up the following Investigating Agencies that function under the Department of Revenue in union with the Ministry of Finance.

SOME POPULAR WHITE COLLAR CRIMES

The Enron Scam: Enron was the world's largest energy-trading company, with a market value of as much as $68 billion, before it imploded amid allegations of accounting fraud. The bankruptcy wiped out more than 5,000 jobs and at least $1 billion in retirement funds. A Houston jury found former Enron Chief Executive Officer Jeffrey Skilling and former Chairman Kenneth Lay guilty in 2006 of deceiving investors, analysts and employees about the company's deteriorating financial condition. Enron lied about profits over the years and concealed all the large debts that it owed through various unethical accounting practices. Enron had created offshore entities that can be used for planning and avoidance of taxes. This allowed the company to freely transfer funds between the entities and Enron's other holdings to hide the losses it incurred from shady business dealings. Enron had given the auditors the impression that annual profits were more important that company integrity and maintaining legal practices.

Ÿ The Satyam fraud: The Satyam Computers Services limited chairman Ramalinga Raju's self-confessed scam reveals the fragile foundation of corporate ethics on which India's external reputation has been so assiduously built for almost a decade. Analysts in India have termed the Satyam scandal as India's own He confessed that the accounts shown in the quarter ending 30th September, 2008 were wrong and the amount of net income to be shown as Rs. 600 crores instead of 60 crores. This means the profits of Satyam Computer Services for the quarter is only 60 crorers and hence the stock has fallen 80% based on its actually earnings. Raju confessed that Satyam's balance sheet of 30 September 2008 contained:Ÿ Inflated figures for cash and bank balances of (as against INR 5,361

crore reflected in the books).Ÿ An accrued interest of INR 376 crore which was non-existent.Ÿ An understated liability of INR 1,230 crore on account of funds was arranged by

himself.Ÿ An overstated debtors' position of INR 490 crore (as against INR 2,651 crore in the

books).

Raju claims that Satyam inflated profits for many years...

Ÿ By inflating cash and bank balances of Rs 5,040 crore (as against Rs 5,361 crore reflected in the books)Ÿ Accrued interest of Rs 376 crore is non-existentŸ Liability of Rs 1,230 crore is understated on account of funds arranged by "him”.

Enron scandal.

INR 5,040 crore

CONCLUSION

White-collar criminal law comprises of study of the behavior of business people in respect of honesty and compliance of regulations and rules. The harm caused by a few white-collar crimes is straight forward. For example, tax evasion leads to reduced revenue for the treasury, bribery leads to bias governmental decision-making, insider trading leads to loss of investments to investors. In white-collar crimes the harm is not seen physically as in the case of traditional crimes. The regulatory and enforcement authorities have to establish the case and the deceptive role of the criminal. The white-collar crimes can be avoided by the promotion of good corporate governance with reasonable transparent processes within the corporation to detect improper activities of its executives.

The recent corporate scandals have brought due attention to business ethics in the corporate world. Today's corporate India is facing a piquant situation. On the one hand our corporate want to be listed on international bourses and on the other they want to practice the art form that they have made corruption into. This paradox in itself is what will damage them beyond repair. There was a time when brown paper envelopes were the order of the day, but to continue to allow their existence even today is worrying. What more do our corporate denizens seek in terms of tax rationalization before they can even think of becoming honest citizens? What more must the government does before the corporate world seriously thinks of changing its hues and colours?

The only solution in such a scenario is greater transparency. We need to make listing norms and public issue rules as stringent as GAAP in the United States; we need to have greater transparency in terms of how the companies are being run. Corporate governance in India is a joke. The ethical issue is very blurring because “who decides what is ethical and what is not “. A classic application of the Latin term “Quis custodiet ipsos custodes''. How can one write off something as a wrong and unethical act that the corporate world refuses to recognize as wrong until it results in some huge financial loss or tarnishes one's image. White Collar Crimes have been manifested today only because business ethics are still incomprehensible, even to owners and employees of large corporate house who claim to come from affluent educated backgrounds. We need to create examples through punishment. We need to punish corporate delinquents more severely: they are as criminal-minded if not more than the petty thief, for the simple reason they do it despite being educated and being given the right opportunities in life. In such a case the only thing that can control White Collar Crime is strict moral policing in the workplace and 24x7 watchgaurd on the people of the corporate world.

-BHUMIKA KOTECHA (MHRM, 2011-2013)

THE QUIZ

1. Its sales increase by more than double on examination days in Japan. This is because of the brand name's similarity to a Japanese phrase, which means 'Hope you win'. Developed based on the suggestion of an employee for a snack that a 'man could have in his lunch box for work', it was advertised as 'the biggest little meal'. Identify the brand.

2. Meri Pehli Chaatra: How I Taught My Grandmother To Read' is a film directed by Sumitra Bhave and Sunil Sukhtankar. It is based on a partly autobiographical story by a Padma Shri awardee. Who?'3. One-click buying' refers to the technique of allowing customers to make online purchases with a single click, rather than use the shopping cart software. Which company owns the patent?

4. What was founded in the early 1970s in London by Ian Tigrett and Peter Morton, has a sign outside its outlet that reads `No Drugs or nuclear weapons allowed inside'?

5. Identify this person who was little known outside France until the late 40s,He shot into limelight when Constance Storrs published her translation of his 1916 work “Administration Industrielle et Generale”.

6. Which Indian movie became a part of the course content of IIM Ahmedabad as it taught leadership ,team building and motivation

7. He was a Management professor at the MIT Sloan School of Management and president of Antioch College from 1948 to 1954.He also taught at the Indian Institute of Management Calcutta. His 1960 book The Human Side of Enterprise had a profound influence on education practices. In the book he identified an approach of creating an environment within which employees are motivated via authoritative, direction and control or integration and self-control, which he called theory X and theory Y.

-ABHISHEK CHAKRABORTY (MHRM, 2011-2013)

ANSWERS: 1. KITKAT2. SUDHA MURTHY ( WIFE OF NARAYAN MURTHY)3. AMAZON.COM4. HARD ROCK CAFÉ5. HENRY FAYOL

6. LAGAAN7.DOUGLAS MCGREGOR

GAME ON !!FIFA ‘12

Distilling the world's most popular sport into a video game isn't an easy task. Aside from capturing the atmosphere of the game--the satisfying thump of boot on football, the on-pitch dramas created between player and referee, and the ferocious roar of the crowd as the ball sails into the back of the net--there are other considerations too. Some players want to manage their teams. Others want to live out their dreams of football stardom. Still others want to put their skills to the test against the best in the world, all the while clamouring for as realistic an experience as possible. FIFA 12 lets you do all of these things and more. For the first time, the PC version uses the same engine as its high-def console counterparts. As a result, it not only looks the part, but also gives you access to the same excellent new features, such as the tactical defending system, player impact engine, and head-to-head seasons. It's the new EA Sports Football Club that's the real draw, though, bringing with it an addictive levelling system that pits you against the world's players, keeping track of your own progress and that of your favourite team too. Not only is FIFA 12 the best game in the series, it's also one of the most exciting, accurate, and complete sports games around.

-SAURAV BHATTACHARJEE (MHRM, 2011-2013)

FOOTNOTE

The IISWBM MHRM department is a perfect place for 'learning and beyond', a mixture of harmonious academic environment and fun. Class rooms are equipped with A/V facilities, WI-FI all round, cooperative and highly qualified faculty members, well-stocked library and all other facilities needed for a proper academic environment. There is always some activity going on in the campus from corporate quiz to workshops to the seminars-on-every-Fridays where successful professionals share their valuable knowledge with the students.

The academic year starts with a splendid Fresher's Welcome organized by the senior batch of MHRMs where the students from both the batches successfully break the ice and come together to have an evening of great fun. The very next event is Confab, our very own alumni meet where we get the opportunity to interact with our very distinguished alumni.

Last year, March 12, 2010 saw the landmark event of the MHRM department. Our annual HR summit Genesis which was huge success. The evening was a witness to the likes of TRF Limited, Hindalco Industries Limited, Price water house Cooper, ITC, Cognizant Technologies Limited and Indian Oil Corporation, competing against each other while they were brain-teased by the inimitable quiz master, Mr Barun Das. The audience was kept mesmerized with rounds of questions that were both challenging and entertaining.CTS emerged as the deserving winners, with their second team continuing to dominate as the first runners-up, while IOCL came in third. The show came to its celebrated closure, with the unveiling of Manav our annual department magazine.

This year the torch is being carried forward by a new batch of enthusiastic students. However the spirit is still the same, with a mission to turn another MHRM-academic-year into grand success.

An efficient team of Bhumika Kotecha and Saurav Bhattacharjee, have designed this magazine.