MTC- Knowledge in Practice vol II, Issue III

8/7/2019 MTC- Knowledge in Practice vol II, Issue III

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M T C Gl o b a l

KNOWLEDGE IN PRACTICE

Volu m e 1, Iss u e 1

I ssue- 3 (J an Mar 2011)E- bullet in: Volume- 2

Message from the Chief Editor

I take immense pleasure to release the third issue of our e-bulletin. Thefirst and second issue of e-bulletin were great success and earned lot of accolades across different walks of

life. It was very well received by all esteemed team members of MTC.

I sincerely acknowledge the support, encouragement and motivation extended by all the esteem members ofthe team who contributed towards the growth of the consortium.

I am really grateful for the contribution made by all our team members. The restriction of page numbers

limited inclusion of all the articles. The articles submitted would definitely be placed in our subsequent issues.

Once again thanks a lot to all the team members of MTC for their continued support and encouragement.

Happy Knowledge Sharing.

Prof. Bholanath DuttaChief Editor: MTC Global- Knowledge in Practice

Founder & Convener: Management Teachers ConsortiumCell: +91 96323 18178

Homepage: http://groups.google.com/group/join_mtcGroup email: [email protected]

Achievement/Award/Appreciation

Prof. Manjunath from Adarsh College,Bangalore has designed the logo for

SANKALP- 2011. Kudos!!

Dr. Siddharth Ghosh name included in theWho's Who of the World 2010 edition ofMarquis Who's Who, New Jersey USA.

Prof. Deepak Yadav-CTO, MTC Global hasbeen awarded Young Scientist Award by MP

Government.


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Struggling MFIs Searching Strategy For Sustainable

SurvivalDR.S.N.Ghosal

Director: NICCO FINA

NCIAL Services Ltd., Kolkata

MFIs in India is passing through a critical phase andundergoing rigorous testing time for their survival. It is

surprising for many as it was growing very fast and

earned a good reputation not only among thebeneficiaries but also in the financial world both in

capital market as well as among those who count-

politicians and public. It is indeed highly surprising

when the news spread that in Andhra PradeshMeccaof MFIsseveral farmers and artisans have committed

suicides because of atrocities of MFIs whileundertaking collection drive of their debts. MFIs havebeen maintaining very high rate of repayment record

and none could guess even that the same is largely due

to such atrocious and coercive collection methodspursued by them. In fact these institutions were

blossoming and most people high and low

considered that ultimately an appropriate institution

could be conceived for amelioration of poverty andempowering the poor to earn their livelihood with

dignity and self help. Accordingly it also enabled the

state to pursue much desired inclusive economicgrowth.

Apparent and Obvious Reasons

It is no doubt a great blow on MFIs and aftermath ofthe same appears to be all the more disturbing as it is

obvious that it may be fatal as the continuation of MFIs

appearing to be doubtful day by day. Such suddenchange could not be only due to coercive collection

drive of MFIs but there appears to be some hidden

agenda of beaurocrats and politicians also as most ofthem were unable to get any share of high profits these

institutions were earning as they could not build any

financial linkage with these institutions that perhaps

they have been enjoying in SHG model as envisagedand pioneered by NABARD. There could be latent

desire to create road block for these institutions to help

growth of SHG model as there they have an assignedrole of intermediary in one form or the other and to

share the booty of funds disbursed to the members of

SHGs.

Handy-work of Bureaucrats and Politicians

It may not be a farfetched thinking that such a sudden

collapse of MFIs might also be handy work of bureaucrats

and politicians who joined hands with greedy promoters

of MFIs to make some fast buck by allowing it to growand earn usurious rate of interest and entering the capital

market with very highly rated and premium loaded shares.

In our country since time immemorial are known for theirconstant efforts to grab every opportunity to exploit

gullible poor as well rich people without exception. This

is evident from the fact that so many funding institutionshave been constituted from time to time but none could

replace the mahajans despite their known methods of

exploitation and usurious rate of lending. So many

committees and commissions have been instituted toconceive a suitable model of lending to the poor without

hurting them. Money lenders have been posing challenge

since time immemorial and attempts have been going onsince then by politicians and bureaucrats to find suitable

alternative. These attempts could be seen from conceiving

cooperative societies both regulated by the centre as well

as by the respective states and then came nationalizationof banks with the direction to lend to the poor even at the

rate of 4% interest and not being satisfied with the same

Regional Rural Banks were also conceived and formedwith centre, state and banks participation but the problem

remained and perhaps further enlarged due to rising

population and indifferent mindset as well as lack oftechnology and infrastructure to outreach poor.

What has been Plaguing the Poor

It is a mystery that no one realized what exactly isplaguing the poor. In this regard one may quote from

sociologist Bauman who wrote in 1999 that cash transfer

to the poor would remove the awesome fly of insecurityfrom the sweet ointment of freedom. In fact such

understanding has propelled the politicians to provide

guaranteed living wage in most of the countries of theworld. But in India we have legislated for living wage and

also recently come out with a guaranteed earning schemecalled MGNAREGA but the delivery model is under the

grip of politicians and bureaucrats, the net result isobviously just filling their own pockets rather than

outreaching the poor for whom these are conceptualized

and introduced.


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Baumans Theory

Perhaps we may draw some lessons from the writings

of Zygmint Bauman who has long been regarded as one

of the Worlds most influential sociologistwhose

enquiring mind has provided dynamic acceptable

arguments. That has impacted politicians to revisit theirpolicies and programmes to outreach poor. In this

regard his vision of community, his sensibility tounderdog and his awareness that the quality of society

and cohesion of community need to be measured not by

totals and averages but by the wellbeing of weakest

individual.Underlying his theories is the idea that system groom

individuals and not vice versa. He has emphasized

ethics of work and not ethics of consumerism and thattoo for each individual not just a group and or

community. He has rightly warned that our society is

sliding from this ideal as our bureaucrats and politiciansare more keen to pursue a policy that apparently suites

them to develop vote banks instead of developing a

community of responsible citizen. In his views an entire

modern political vocabulary has been emerging as asmokescreen for hidden intention where social mobility

is just not possible as individuals are not in a position or

empowered to reach the position that they could have ifappropriately empowered by the state. In fact welfare

schemes are just a cover for an ugly spectre. Bauman

has further added todays talk of social exclusion is anextension of Schmitts dictum that most important act

of government is to identify its enemy and divert allresources and energy to crush them. In this regard he

has rightly argued that murder of millions of Jews wasthe result not the action of a group of bad people but of

a modern bureaucracy where subservience was prized

above all, where labyrinthine workings concealed theoutcomes of peoples action and where state imposed

order by harnessing a fear of strangers and even

outsiders. He has rightly emphasized that the task of the

state is to come to the rescue of individuals and that iswhat most of the governments have lost sight of.

Real Reasons for the Downfall Of MFIs In India

This explains very vividly the reason for sudden spurt

of downfall of MFIs in India. MFIs have been charging

very high rate of interest under one pretext or the otheris not news and certainly not a cause for its recent

downfall. In fact it fell from the top of its glorified

performance because it was funding primarily

consumption needs and not helping individuals to generate

income with higher capability and competitive strength.Another possible reason appears to be its higher earning

both due to net interest margin and also due to sudden

revelation of its market valuation from the sales SKS

equity. It is also extant creating conflict of interest for

most favoured scheme known as SHG.Still Revival is FeasibleIn any case MFIs still can rise from the ashes if it developsa business model under PPP model where state banks,

MFIs, farmers, artisans and traders would be its

stakeholders and risk and management would be well

defined and shared by all of them. Further instead offunding individuals they should develop projects on

cluster basis and ensure availability of modern technology

both in production, distribution and marketing. This wouldhelp building modern farms and firms and would generate

high quality and higher output and that too with adequate

cover for all risksmarket and nature. This is notsomething utopian but most practical solution that could

be thought of. In fact already there are whispers to transfer

all loans to banks and MFIs could become correspondent

to banks and extend helping hands to banks to outreachpoor and provide universal financial accessibility.

Where Lies the ConfusionIt has been very rightly pointed out by Arvind Panagariyain his recent paper appearing in the Economic Times that

one of the key confusion (?) MFIs are meant for poverty

alleviation. He has further added that going by theavailable scientific evidence and agreements among the

scholars to-date, there exist no compelling study linkingthe expansion of microfinance to declining levels of

poverty. This is obvious as MFIs have been financingconsumption needs mostly and wherever they extended

loans for productive purposes that was not for improving

productivity, lowering the risk and or generating higherincome. It is therefore obvious that these institutions

though less usurious and less coercive than moneylenders

but it cannot be denied that these institutions just provided

easy way to banks to fulfill their priority sectorcommitments and helping borrowers towards

consumerism which as has been highlighted above is not a

boon but bane to the society. It is therefore high time forall to realize that one should revisit the business model

adopted by the MFIs in India and adopt the PPP model as

suggested above to reach the poor and become aneffective instrument for poverty alleviation and provide

universal financial accessibility, the dire need of the day.


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CircumstancesProf. Ramesh Vemuganti

Principal Strategist: Chanakya Consulting, Hyderabad,Resource Person for National & International Conferences,

Visiting Faculty for B-Schools / University.

In our jobs, professions, businesses or personallives, most of the times things dont work out the

way we plan or some hitches or glitches crop uphere & there .Then , we immediately blame the

situation, fate or circumstances. Herein I am happy

to share a timely & inspiring quote by Sir GeorgeBernard Shaw as follows

People are always blaming their circumstances forwhat they are. I don't believe in circumstances.

The people who get on in this world are the people

who get up and look for the circumstances they

want, and, if they can't find them, make them. ~G.B. Shaw, Mrs. Warren's Profession, 1893.

The message conveyed by the Nobel Prize winneris that situations & circumstances will not be

favourable almost 60 to 70 % of the times. Never

mind.

Indifferent colleagues, unreasonable boss, silly

inefficient subordinates, non-cooperative family

members, cranky customers or unfaithful friends --either some of them or all of them dominate each

day of our lives. Result is delayed projects,overshooting deadlines, cost overruns, penalty

clauses - all this leading to an intense stress &

strain on the body. This is not desirable & we

should not allow it to happen. Young corporate

executives & IT professionals will be facing similarsituations in offices or homes.

Our effectiveness lies in anticipating the situations

beforehand. Success in our workplaces lies in ourability to see the future, far ahead of others. The

future is about IMAGINATION &

ANTICIPATION. This can be done by having

good lead times. Set aside half hour for next weeks

schedule. Plan one week in advance for the comingweek. Remember, while planning, take into

consideration, all the unforeseen circumstances,unwarranted developments, mood swings of

colleagues & boss, political turmoil, unsparing

customers, front office communication gaps, Server

being down, delayed back-office responses,unscheduled visits by partners & associates,

suppliers excuses for the delays ; even a sudden

absence by an unpredictable colleague.

EXPECT THE UNEXPECTED. THIS IS WHATKALI YUGA IS ALL ABOUT. LET US CREATE

OUR OWN CIRCUMSTANCES. MAKE A

BEGINNING AND START WORKING IN THAT

DIRECTION.

THEN

WHEN WE WALK INTO OUR OFFICE OR

CLASSROOM IN THE MORNING OR GETBACK HOME LATE EVENINGS, WE KNOW

WHAT THE SITUATION OUT THERE IS. THISBOOSTS OUR PERFORMANCE

SUBSTANTIALLY.


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CONSISTANCY AND ENDURANCE- The keys tomastering the World

Prof. S. SubramanianChairperson: MTC Global Advisory BoardChairman on the Board of Directors, African Center

for Mobile Financial Inclusion (www.acmfi.org), Retd.Senior RBI Executive and Ex Bank Director , Advisor& Senior Management Consultant (BFSI) , GradatimIT Ventures India Ltd, World Bank ProjectsConsultant / Lead, Resource Person for National &International Conferences, Visiting Faculty for B-Schools / University.

Believe in the impossible; imagine the unimaginable.All of us have a purpose and it is our destiny to fulfillit." says Barnabas Tiburtius, my close scholar friend-a Coach, Guide and Mentor. Karnazes of LosAngeles as a post-tawdler boy, began running homefrom kindergarten not to burden his mother with rideshome every day..!! As days passedby and his activeintellect blossomed from twig to bud and to floweringstages, Karnazes experimented running diversionaryroutes that would extend his run and into unchartedterritory. By third grade he participated in regularschool and local community events, testing his limitsto stretching. By age eleven he ran rim-to-rim acrossthe Grand Canyon & climbed Mount Whitney, thehighest of a chain of mountains in USA. 12thbirthday, he cycled 40 miles to his grandparents'home without telling his parents to create surpriseelements in his growth graph. Then he met coach &

mentor Bernard Emil Weik II, who introduced him tolong-distance running. "Go out hard and finishharder.", his coach cum mentor egged him on.

Karnazes won the one-mile California Championshipheld on the Mt SAC track. At the end of the race,Weik commented: "Good work son, how'd it feel?" atwhich Karnazes replied: "Well, going out hard wasthe right thing to do. It felt pretty good." The coach hitback, raising the bar, "If it felt good, you didnt pushhard enough. It should hurt like hell." In 1976,he joined the cross country team under BennerCummings, who theorized, '

Running is about finding your inner peace. Run withyour heart." Karnazes was awarded "MostInspirational" team member as he ran his first 6 hrsendurance event, a fundraising run forunderprivileged children & raising a dollar a lap fromhis sponsors, as it was the offer. While othersmanaged only 10-15 laps, he ran a stupendous 105.

2. Then a twist and catastrophy in the otherwisesmooth synopsis of sorts, occurred without whichit would interest none..!! An un-expected suddenstorm bull-dozed the relationship with his Coachcum mentor. Not being compatible with hisCoach, he stopped running for 15 years. But,

basic intrinsic fire remained within like a fumingbut ' idle & dead ' volcano waiting to eruptanytime. Karnazes resumed on his 30th birthdaywith an impromptu all-night, 30-mile trek in hisinnerwear and oldlawn-mowing shoes. He posted furthermilestones but greater ones. Named one of GQ's"Best Bodies of the Year" (GQ is theGentlemens Quarterly magazine in the USA),he embarked on the well-publicized Endurance50: 50 marathons in 50 states in 50consecutive days. 8 of the 50 races wereconventional marathons. He overcame theendurance and logistical difficulties & finished the

final New York City Marathon in 3 hours. Heweighed 154 lbs at the start and shed and burnt afew calories to register 153 lbs at the end. Likethe greatest of Indian Cricketer, MasterProfessionals, never lookup at their records, asthey just do not ' perform ' for records sake. Merenumbers are for one-shot expert ordinarymortals. Consistency, resilience and quality inperformance with ambition to scale ' Moons,Suns and Stars ' come into play.

After finishing the 50/50/50, Karnazes decided torun to San Francisco, his hometown from New

York City. He was expected to finish the trip inJanuary 2007. However Karnazes chose to endthis trek Dec.15, 2006, in St. Charles, Missouri, tospend more time with his family. May be he haddevoted inadequate time to keep his otherrelationships and external non-professionalengagements, which form a part of this mundanechores.. Dean Karnazes was Time Magazine's27th most Influential Person in the World andESPN's Outdoor Athlete of the Year." Is this not a great inspiration for the potential ofthe human spirit? ", my friend Barnabasends up his mail to me with a query. I couldnot

agree less.

Management professionals and leaders mustponder over resilience and quality factors, oncethey are out of research Labs and step into shoesof Practitioners. In my more than 4 decades inManagerial positions, I ignored lesser mortals.Consistency and endurance are the keys tomastering the World, I strongly believe.


6/12

Innovations in Health Care Delivery

ByBrig (Dr) Paramjit Singh Dhot, VSMMD (Path), Post Doctoral Fellow in Haematology

(AIIMS, New Delhi), FRSH (London), MCHS(Toronto), FISHTM, Past President - Indian Societyof Haematology and Transfusion Medicine (2002-2003), Past President - Delhi Society ofHaematology (2003-2005), Chief of LaboratoryServices, Senior Consultant ,Haematology,Transfusion Medicine, ClinicalPathology, Apollo Bramwell Hospital , Moka,Mauritius, Phone: 00 230 2510487 (Mobile),00 2306051000 (Office) Ext: 3613E-Mail: [email protected]

Today, I believe more than ever that only the

innovated redesign of health care's clinical and

administrative processes will deliver lower costs

and improved safety. Secondly health insurance

for the poor in developing countries will make a

sea change in the fight against ill health and

poverty.

Firstly, during an average four day hospital stay, a

patient sees twenty four different clinicians and

administrators; when a physician places an order

for medications in a hospital, there are fifteen steps

between when that order is given and when the

medication reaches the patient's bedside - all

opportunities for error. And this complexity

happens within a single health care delivery

organization. When multiple physicians, clinics,

hospitals - and insurance companies - are involved

in the care of a patient, the complexity can be

overwhelming, both for the patient and clinicians.

The case for action for innovation in health care

delivery can easily be made alone on the basis of

lowering costs and improving safety. It's time for

health care professionals to innovate their work.No angel of government can or should do it for

them.

Secondly, throughout the world, countries at all levels

of economic development and with all types of political

systems have embarked in a creative search for the

elusive goal of universal coverage. From Mauritius,

China, and Ghana to the USA and India, novel ways toconfront the health challenges of the 21st century are

being designed and put to the test. Let us take the

example of Mexico.

Mexico had an early start in the current generation of

health reform initiatives. A major effort launched in

2003 will provide health insurance to everyone before

the end of this year. Previously uninsured families can

now enroll in a new public scheme called Seguro

Popular, which guarantees access to over two hundred

and fifty medical interventions and the respective

drugs. These interventions include all services

provided in ambulatory clinics and general hospitals.

Seguro Popular also covers a package of eighteen

expensive interventions, including treatment for cancer

in children, HIV/AIDS, and cervical and breast cancer.

Seguro Popular has elicited an enthusiastic response

from the population. By December of 2010, 40 million

people were enrolled in it, and the country is on track to

achieving the goal of universal coverage this year.

Social protection mechanisms for health liberateresources which families previously tended to invest in

health care. These resources can now be used to meet

other basic needs, such as nutrition and education.

Finally, a properly working social protection system

contributes to health gains, and as recent economic

research has demonstrated, good health improves

educational performance, increases labor productivity,

enhances the investment climate and, by doing all

these things, stimulates economic growth, which, in a

virtuous circle, in turn improves population health andoverall productivity.


7/12

The Science of Education A non-mechanisticPerspective

ByProf. Jayanti Ranganathan Chavan

Founder President,

Institute of Science and Religion, Navi Mumbai

(An international journal Sutra A quarterlyjournal for research on Education, Psychology,

Traditional Sciences and Systems, Health and

Consciousness was released during the WorldEducation Culture Congress Jan. 2011, Delhi

organized by Shruti Foundation, UNESCO, British

Council, Indian Council for CulturalRelations(ICCR) and Nehru Memorial Museum

and Library. It had delegates from 40 countries.

The journal selected only 10 articles from more

than 100 invited scholarly papers and my articletitled, Rebuilding Modern Education

Perspectives from Traditional Knowledge systems

was one among 10 selected for publication. Thepaper was presented in the form of seminar during

the congress).

The following article is abridged version of the

published paper.

Education always has had a huge meaning in our

life, seen as a driving force behind our lifessuccess albeit what was perceived as lifes successin the past is totally different from today.

During our rich ancient era the rationale of

education was in tune with its etymology.Education stems from the Latin word educere; e

means out, and ducere means to lead, draw or

bring. So education means to lead, draw or bringout. Ideally the purpose of education will be to lead

one out of the darkness of transient consciousness,

i.e. to bring out the pristine self, from its lower

level or animal consciousness, and bring it to thelight of knowledge towards divinity. And this was

considered as lifes success in the past.

For several centuries the education system in Indiawas based on balancing scientific temper and

spiritual wisdom. The confluence of several eastern

traditions in the Indian soil was one of the beaconsto impart value education. Among these, primarily

the traditional wisdom based on Vedic knowledgeprovided direction for every action based on

preyas(immediate beneficial) and sreyas(ultimatebeneficial) and a deeper understanding of life.

Overall the complete education was a roadmap

towards fulfillment of lifes purpose while takingcare of economic necessities and happiness

quotient. As it was life oriented and related with

purpose of living it naturally instilled dignity andrespect for life in the learner as well as teacher.

There was individual responsibility undertaken to

pursue education within ones full capacity. Stress

before exams, depression after result declarationand lifestyle disorders were unheard of in the

education system based on traditional knowledge,

plus the quality of education was very high. Pre-Independence, a matriculate was competent and

eligible to run a high school. His mental and

physical health was sound. His life was based onsimplified living. It was a selfless act of service and

sharing knowledge for a higher cause with meager

salary.

Post-independence, under the impact of industrial

revolution and lately with advancement of scienceand technology the education system in India hasundergone changes in leaps and bounds. While

technology has had its positive impact, it has had

its downside too. Today the education sector is

multifaceted and fragmented and incomplete. It isdifficult to ascertain the exact goal of education as

it is primarily seen as a means to earn a good

living. Besides, an educated person is identified byhis scholastic ability, setting aside if his/her

personality and actions on the whole reflect the

Wisdom gained through education. The word,

Scam which was associated with corrupt businessenterprises is gradually finding place today in the

education sector too. The student community is

subsequently failing to grow as responsible citizensof the country.


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Todays education is frequently marked by changes

at regular intervals in tune with benefits providedby revolutionized science and technology. Besides,

within these changes is also embed the mechanistic

temperament of technology taking us far from

significance of life and our responsibility in this

cosmos, gradually progressing towards collapse ofsane human values. Most importantly the teachers

and students are the direct affected limbs of thiseducation system.

It is painful to see school children and students,

under the influence of contextual ranks andrecognition, are facing shallow challenges and

chasing stressful targets, affecting their psycho-

physical nature badly. The education which isfacilitating the above is failing to deliberate on its

real purpose. Excellent Infrastructures in the guise

of computer and internet training are driving youngstudents and children towards unethical culture.

Gen X especially in 20s and 30s even after

receiving top education are becoming victim of

quarter life crisis. They are in a hurry to achieve thehappiness quotient based on money, comfort and

luxury, but unfortunately becoming victim of

adjustment disorder.

Teachers are under constant pressure to update

their knowledge and skills. Instead of undergoinginternal positive transformation, the extra effort is

having a negative impact in their mindset withregard to profession. What started as a passion and

loving profession now brings stress in their life.This temperament has natural implications in their

productivity as well as in the student teacher

relationship.

This only speaks about the impact of fragmented

mechanistic knowledge on the consciousness of a

teacher. Overall, our lifes growth finds noexpression in innovative pedagogy of revised

educational curriculum that is based on

commercial, objective and mechanistic principles.

We need to ask if the etymology of education can

change in the pretext of technology orglobalization. If yes, then we need to redefine

human personality as well as human civilization.

The Vedic tradition specifically teaches us the

strength of enlightened human culture as an

indicator for human development and education asa primary facilitator. By definition, education not

only fosters growth of consciousness but acts as avital tool to solve the problems of life.

It is high time, Indian educationists make a

critically study of modern educations lopsidedgrowth, and take guidelines from traditional

knowledge systems and re-capture the purpose of

education and integrate it with current education tomake it complete. This can prevent young literate

India from becoming victim of lower consciousness

while simultaneously improving employabilityfactor and thus set an example for the rest of the

world. Failing to check the imbalances of the

modern incomplete education system can give rise

to so called literate population influenced byanimal passions inhibiting the progress of human

civilization.


9/12

Survival of the Fittest Entr epreneurial

B-School

By

Prof. Dr. Siddhartha Ghosh

Assistant Professor, Editor & Programme Convener,

Asian School of Business Management, Bhubaneswar,

Chapter Head Bhubaneswar, MTC Global, National

President & International Director, CCLP Worldwide

Today management education particularly in theIndian sub-continent is among the most happening

industries. The competition flu is affecting anybodyand everybody and b-schools are not exceptions.

Everyday out of the blue, the MBA factories areconceiving and developing new strategies forsurvival, growth and dominance. Undoubtedly, its a

age-old fact that recession or no recession, the

Indian job market has always been bullish.

In the present fragile economy, it becomes more

relevant for the management varsities to have the'locus of control' on multiplication and not addition,

viz. entrepreneurship in lieu of the conventional

one-to-one students placements.

Its high time now that the B-schools should takeinitiatives towards grooming wealth creators rather

than creating job seekers. They need to stop

bragging and competing about the average salariestheir students are commanding and start to teach

and encourage them about the values of wealth

creation and entrepreneurship. They should start

celebrating their alumni of entrepreneurs and makethem involved in the process of grooming new

entrepreneurs of their students.

The decision to quit a stable job and start a newcompany needs a lot of courage and risk taking

ability for which the students need to be inspired.

Involving alumni entrepreneurs and othersuccessful business personalities in the course

curriculum and facilitating their interaction withstudents will help the students to find their role

model and then they will begin to view

entrepreneurship as a valuable career option.

Diversity in a class leads to exchange of whole lot

of new ideas and this may help in developing

independent thinkers who do not just want to workas employee managers but to be creative and

develop something new. There is a need to create a

separate academic department for entrepreneurshipand introduce a number of relevant courses in that

area. The potential students should be trained onhard and soft skills of entrepreneurship.

With the emergence of Venture Capitalists (VCs),

government R & D institutions, op B-schools seekout the entrepreneurial spirit among the young

students. Some of the top b-school graduates have

started turning down plum posts and packages and

are venturing out on their own.

The current economic crisis has also led students to

think out-of-the-box by establishing start-up firms -

a common phenomena in the western world. Many

entrepreneurs feel that the time now is ripe toinitiate new ventures as enthusiasts have the time to

think about innovations and even evaluate the

viability of it further.


10/12

The leading national b-schools are taking initiatives

to encourage entrepreneurship amongst the

students. Some of them are: -

Asian School of Business ManagementBhubaneswar has launched an independent

entrepreneurship cell with Government of

India sponsorship.

Centre for Entrepreneurship (CFE) set upby MDI, Gurgaon.

Organizing training, workshops, andconferences on entrepreneurship.

Involving and networking with differentchannels for entrepreneurship development

like NEN (National EntrepreneurshipNetwork) and research organizations.

Mentoring and providing helping hand tothe aspiring students through faculty,

research organizations, government

agencies and alumni entrepreneurs.

One of the most innovative ideas to attractstudents for taking the risk to start their

own venture is having a deferred placement

policy in the institutes. Since uncertaintydiscourages the students from taking risk

and venturing on their own, this deferred

placement policy helps the students to havetwo years in their hand to choose their

desired path but can always come back if

they fail to make a mark. XLRI

Jamshedpur is one of the institutesproviding such facility to students.

IIMs and other prominent B-Schools haveset up separate entrepreneurial centers for

fostering and developing innovation-basedentrepreneurship. These centers act as an

incubator cell for start-up companies

besides providing support and mentoring.These centers are already having quite a

few start-up companies to their credit.

Some of such centers are CIIE (Centre for

Innovation, Incubation andEntrepreneurship - set up by IIM

Ahmedabad), NSRCEL (Nadathur S

Raghavan Centre for Entrepreneurial

Learning - set up by IIM Bangalore).

Some institutes have introduced innovative ideas to

encourage entrepreneurship. IMT Ghaziabad has astudents' committee which collects funds and

invests them on behalf of the contributing students.

It then tracks the stock market and gives monthly

update to the investors i.e., the students, thus

explaining the working of the stock market to themand encouraging them to invest, take risk and earn

their own money showing them ways towards

entrepreneurship.

With the passage of time and with sheer hard work,

these pioneering Indian educational establishments

can create a benchmark for the B-School industry

and may be at some point of their life-cycle, theycan be compared (if not compete) with their

western counterparts.


11/12

Author: Sri Joydip- ManagementGuru, Publisher- Lulu, ISBN#:

978-1-4583-5408-2

MTC Global Annual

Convention: SANKALP-

2011 at Hyderabad on 27-

28 Aug 2011.

ISBN-13: 978-3-8383-7757-5

Book language: EnglishPublishing house: LAP LAMBERT

Academic Publishing, GermanyBy (author) : Dr. Sudhanshu Joshi

Published at: 2011-01-21Price: 49.00


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Research and Publication InitiativeMTC Global Chennai Chapter is coming out with a Journal named MTC Global Journal ofEntrepreneurship & Management under the leadership of Prof. Ravi, Chapter Head: ChennaiMTC Global Dehradun Chapter is coming out wish a Journal named MTC Global DoonBusiness Review under the leadership of Dr. Sudhanshu Joshi, Chapter Head: Dehradun.MTC Global is coming out with a book Management of Management Department : Tools &Techniques under the leadership of Prof. Bholanath Dutta, Founder & Convener: MTC Global

+91 9632

Stay ConnectedProf. Bholanath Dutta

Founder & Convener: Management Teachers Consortium (MTC)

Cell: +91 96323 18178: www.mtcglobal.org/email: [email protected]

817

Sl.

No

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Coord inator Chapter Date

1. Mr. Ketan Gandhi (Advisory BoardMembers &

Prof. T Jatin ( Chapter Head)

Pune 26.12.2010

2. Prof. T Ravi Kumar (Chapter Head) Chennai 08.01.2011

3. Dr. Arup Barman North East 12.01.2011

5. Dr. Aravind S.

Professor

Mekelle University

Ethiopia.

(Core Committee Member)

UN

International

Center,

Hawalti,

Mekelle,Ethiopia.

01/01/2011

Meeting Theme: Issues in Management

Education with specific to Africa and

Asia

6. Mr. Ram Katla- Chapter Head: Hyderabad Hyderabad 22.01.2011

8. Mr. Joydip

Chairperson- Core Committee

Dr. Biswajit- Chapter Head- KolkataProf Samim- Chapter Head: Burdwan

Kolkata +

Burdwan

08.01.2011

9. Dr. Siddhartha Ghosh- Chapter Head-

Bhubaneswar

Bhubaneswar 16.01.2011

10. Mr. Ram Katla- Chapter Head: Hyderabad Hyderabad 12.02.2011

Ms. Paramita Chaudhuri

Proof Reader & Technical Editor

MTC Global- Knowledge in Practice

MTC GLOBALCHPATER MEET

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MTC- Knowledge in Practice vol II, Issue III