MUDRA

Department of Commerce
AUGUST 2019 Issue
 CONTENTS

• Ayushman Bharat – An overview…………………………………..3

• BREXIT: The story so far………………………………….………..7

• Smile management………………………………………………….11
• Crony Capitalism in India……………………………………….....14

• Influence of organizational culture on employee turnover……......18

• Digital wallets and their popularity in India…....................................20

• How Steve and Apple changed the world………………...…………24

• Crossword Puzzle……………………………………..……………...28

Aug-19
33
 AYUSHMAN BHARAT – AN OVERVIEW

Apoorv Maheshwari
1BCOM SFH

Key Highlights
In order to improve healthcare, the central government launched Ayushman Bharat Yojana or
Pradhan Mantri Jan Arogya Yojana (PMJAY) on 23rd September 2018. It is also known as
National Health Protection Scheme or ‘Modi Care’. It is the world’s largest health insurance
scheme. It has a benefit cover of rupees 5 lakh per family per year. This scheme will cover 10
crore poor families by providing them insurance cover upto 5 lakh rupees per family per year
for their treatment.
After the launch of this scheme there were many reports, both positive and negative related to
its implementation. The Ayushman Bharat Yojana CEO, Dr. Indu Bhushan said that over 12
lakh people have received free treatment under the scheme, while around two crore beneficiary
e-cards have been issued as on February 2019. At least 15,000 hospitals have so far been
registered under the scheme, out of which 15% are private hospitals (Business Standards,
2019).
Previous data: Data shows that in 2011-12, about 55 million Indians were pushed into
Aug-19 4
poverty because of healthcare expenditure which they could not afford (Times Of India, n.d.). At
the national level, India has only 0.62 doctors for every 1,000 population which is a big matter
of concern. (Economic Times, 2017)
Problems with this scheme:
The main concern with this scheme is that it is not easy to implement. Rampant fraud and
corruption led to the closure of Rashtriya Swasthya Bima Yojana (RSBY) scheme in
Rajasthan. This scheme had been a massive failure leading to increase in out-of-pocket
expenditure by the beneficiaries while excluding the poorest, as assessments have shown.
Then there is an example of Andhra Pradesh’s Rajiv Arogyasri scheme which draws 25% of
the state’s health budget but covers just 2% of the disease burden in the state (‘What the
Economy Needs Now’, by Abhijit Banerjee). Even a report by Standing Committee on Health
and Family Welfare said that the Ayushman Bharat was not a “step forward” from the
existing insurance schemes.
Even for this scheme, there are reports that the patients are being forced to pay extra for
those services which they are entitled to receive free of cost.
The scheme is mainly for the poorer and weaker sections of the society who hardly know
about its benefits and they don’t even care to research about it. Hence, they are exploited
mainly by the private players.
Due to the shortage of doctors, as mentioned earlier, it is very difficult to implement this
scheme on the ground.
The private hospitals have started writing to the government informing them that their
proposed reimbursement package rates are insufficient. Many have indicated that they may
Aug-19 5
be unwilling to participate in the scheme at all.
If the private players are using this scheme for their own benefits and giving wrong treatment
to the patients then the government will have to decide and settle disputes about which
treatment patients should receive depending on their disease and how much would it cost.
The government does not yet have the capacity to make these decisions, and the court system
would consume much time to settle the disputes.
Moreover, the budget allocated for this scheme is also not enough for 10 crore families. If the
scheme becomes successful with all the beneficiaries become aware of it, there would be no
money to run the scheme and it would collapse.
Also, the government hospitals lack the necessary infrastructure needed for the treatment.
Then comes the private players, with the best infrastructure but less willingness to implement
the scheme as per the plans and rules laid out by the government. Most private hospitals
charge the patients for the services provided, for which they are entitled to get a free
treatment. There is a strong feeling among the people that private healthcare is better than
government healthcare. Hence, they go to the private health centres and get themselves
exploited.
But after all, there are lakhs of beneficiaries of this scheme who were earlier unable to get a
cheaper treatment. They could not afford going to private healthcare centres for their
treatment, but, because of this scheme, they can receive healthcare at private hospitals they
couldn’t earlier afford to go to.
How to improve the implementation: In order to make this scheme successful, the
government should:
Aug-19 6
o Recognize and train informal healthcare providers,
o Develop an online redressal forum for the patients,
o Conduct a test to examine the ability of practitioners associated with this scheme,
o Enforce strict laws that make it impossible for these practitioners to prescribe wrong
medicines for their own benefits,
o Build new district hospitals and sanction new equipments for the hospitals,
o To check whether all the things are going on track, the government should frequently
send its own people as patients to the hospitals,
o And at last but not least, the government should expand the number of MBBS doctors
and trained nurses and ensure their participation in this scheme.

References
(n.d.). Retrieved from https://timesofindia.indiatimes.com/india/health-spending-pushed-
55-million-indians-into-poverty-in-a-year-study/articleshow/64564548.cms
(2017, July 21). Retrieved from
https://economictimes.indiatimes.com/industry/healthcare/biotech/healthcare/less-than-
one-doctor-for-1000-population-in-india-government-to-lok-
sabha/articleshow/59697608.cms
(2019, February 22). Retrieved from https://www.businesstoday.in/current/economy-
politics/ayushman-bharat-ceo-12-lakh-people-free-treatment-scheme/story/321287.html

Aug-19 7
 BREXIT: THE STORY SO FAR

AKSHAT ASTHANA
1MCOM B

WHAT IS BREXIT?
BREXIT is an acronym used by the people to refer to Britain’s exit from the European Union.
WHAT IS THE EUROPEAN UNION?
The European Union is a political and economic partnership between 28 countries some of
which include The United Kingdom, Ireland, Sweden, Spain and 24 others. The partnership
began after World War II with the idea that the countries would avoid war if they were
united together. It has grown since to become a single market for transactions of goods and
services under one currency, the Euro. The Euro is currently being used by 19 of the 28
countries. The European Union has its own set of rules and Parliament and has the right and
ability to set rules relating to Transportation, Environment and Consumer Rights.
WHY DOES BRITAIN WANT TO LEAVE THE EUROPEAN UNION?
On June 23, 2016 a referendum or a vote happened in the European Union where people had
to vote for Britain to leave the Union or stay. The vote was won with 51.9% of the people
voting for Britain to leave the Union. The turnout of people was around 71.8% with around
Aug-19 8
30 million of the people voting.
WHY HAS BRITAIN NOT LEFT THE EUROPEAN UNION?
The UK had to leave the EU by March of 2019 according to the procedures mentioned under
Article 50 of the EU’s Lisbon treaty. However, the agreement of withdrawal from the EU has
been rejected 3 times now by the UK Members of Parliament. The Members of the
Parliament have managed to get a 6 month extension from the previous date that was allotted
i.e. 12 April 2019 to 31st October 2019.
WHO IS OPPOSING BREXIT?
Scotland and Ireland who are both the part of the United Kingdom voted stay with 62% and
55.8% respectively. However, Wales voted for leaver getting 52.5% and remain getting 47.5%.
WHO IS THERESA MAY AND WHAT IS HER DEAL WITH THE EUROPIAN UNION.
Theresa May was the Prime Minister of the UK during the vote for Brexit after David
Cameron resigned. She assumed office on July 13th 2016 and has survived two non-
confidence votes against her in the Parliament. She is responsible for the negotiations that
happened with European Union after the Brexit vote passed. Theresa May in her time as
Prime Minister, has negotiated three deals which have been rejected. The final deal that
compels the UK to leave the European Union by 31st October, 2019 is a document in two
separate parts.
The first part is a 585-page document which is basically a withdrawal agreement which legally
binds the leaving of UK from the EU. It covers the amount of money that the UK owes the
European Union which is estimated to be around £39 Billion and gives information about
what happens to the UK citizens who are living in other parts of the European Union and the
Aug-19 9
EU citizens living in the UK. It also discusses the prevention of a physical border of North
Ireland.
The second part is a 26-page statement discussing the UK’s future relations with the EU. It
contains details on Trade, Defence and Security but is not legally binding.
CAN BREXIT BE CANCELLED?
The answer is yes. The method through which Brexit can be cancelled requires a major
change in the law of the United Kingdom. This is however something which both the UK
and the EU are trying to avoid. For the change in Article 50 to happen or it to be fully
cancelled the UK would require the consensus of all the other 27 countries.
CAN THE BREXIT BE DELAYED? AGAIN?
Theoretically speaking, yes. Brexit again, for the fourth time can be delayed. This would
require another deal proposed to the EU by the UK on which all the other 27 countries agree.
Theresa May, the current Prime Minister of the UK however, wants Brexit to happen as soon
as possible which would mean that the Brexit would not be delayed anymore and will happen
on the 31st of October, 2019.
WHAT IS A TRANSITION PERIOD AND HOW IS IT APPLICABLE IN BREXIT
A transition period is basically the time taken by an individual, company, or a country in this
case, to get everything in order after a major change has happened. In the current situation
the major change s the Brexit. The transition period is required by the UK to get everything
in order. This includes, allowing businesses to prepare for the post Brexit rules which will be
implemented as well as making of new relationships for trade. This part i.e. the transition
period in the Brexit deal has not been ratified i.e. confirmed yet. If it is that would give the
UK time till 1 January, 2021 to get transitioned into the new phase.
Aug-19 10
References
Kenton, W. (2019, June 25). Brexit. Retrieved from Investopedia.com:
https://www.investopedia.com/terms/b/brexit.asp
Wheeler, B. (2019, May 10). Brexit: All you need to know about the UK leaving the EU. Retrieved from BBC:
https://www.bbc.com/news/uk-politics-32810887
Wikipedia. (2019, July 16). Brexit. Retrieved from Wikipedia.org: https://en.wikipedia.org/wiki/Brexit

Aug-19 11
 SMILE MANAGEMENT

Iona Philip
1MCOMB

We always dream to get into a Big fancy company which is very famous and, tell everyone
and boast about it. So eventually we work hard for it and earn it or sometimes we do it for
the sake of someone else like our parents or for our loved ones or even it ends up as rivalry
competition to get into some big shot company. So, after all his hard work he gets into the
company and fulfils all the expectations which others had on him. We see him as a happy
person from outside who is earning in six figures and having a stable life and being
carefree. But behind every smile there might be a bucket full of tears which he is holding in
and not able to communicate and thinking that people might mock at him for being feeble.
This is due to many reasons such as not being able to cope with the work in the
organisation , employees not communicating or interacting , huge workloads , overtime is
given and not being paid extra , no leave is been given and even on weekends they are
called in , not able to look after the family due to deadlines to meet which makes the family
Aug-19 12
life at stake and so on. We can reason out a lot which can make the person depressed.
So, this is where our Company can come into the picture and help us out. Some of those are
our Managers, Subordinates, Co-worker’s and even our Helping staff can help us in many
ways like telling us to be chill and do our work in a peaceful way and not get stressed.
Communicating with them can help us get updated about what is happening in their lives
and be with them in time of emergency which not only friends do even the management
does. Provide them flexible working time which help them to work whenever they want and
not compel them to do work at all time. Make them feel free to talk and open what they have
in mind and speak out which is the major root cause for many problems which is arising.
Motivate and Inspire them by telling that everything is possible and not to be worried and
things will go well because we have a lot of chances to get things right and it is not end of the
world to be worried. Many of our dream job might not be to work in a corporate but maybe
to become a Singer, Photographer, Vlogger etc. When we are forced to this kind of dilemma
what need to be brought is WORK LIFE INTEGRATION, which can turn one’s life
Wonderful and Happy. Straight after work even when you feel tired and want to sleep and
think of waking up late the next day. Please do remove that pile of mud from your head and
proceed with what you love because your passion is what makes you and who you are and not
anything else. Managers can make their employees work in group which will help them to
mingle and share worries with them you are facing, through this you will believe in yourself
and remove the word ‘’I’’ from your mind and put the word ‘’WE’’ which will be a team
building and encouraging to others. SMILE which you found on top of the heading is nothing
but our smiles which we often fail to show and keep it inside and lock it up. Every morning
Aug-19 13
wakeup and smile and don’t let it down throughout the whole day and keep it on the positive
note you get on that day is nothing but ………... ‘’ oh I can’t say it, you got to try it to feel it
‘’. It is just amazing, there are a lot of people who we see in our workspace every morning and
we just ignore them and proceed with our lives, they are none other than our co-workers,
lower subordinates and even the helpers who clean the area and make our lives neat and
hygiene full. A smile to them for making our day good even they have a bad day change one’s
perception in life and attitude about what is point of living in a stressful which is a waste in
life. Integrate a smile in your Family and Work and see the changes would be amazing, and
you would see yourself as a completely changed person and not the old grumpy person you
were before. So, smile at anyone you see even let it be your competitor because we never who
is going to be with us in the end when we are in trouble and the people to the people around
you because if they are also a part of you for being what you are.
So, another secret to be said is that when you smile or laugh you tend to live longer and stay
healthy. So now go ahead and start the day with smile and whatever the sorrow it may be
don’t overtake it because we humans are the ones who can do wonders and change the world.
So, keep smiling and make our workplace a happy place like our home.
SWEET WORKPLACE, SWEET HOME, SWEET LIFE.

References
McQuaid, M. (n.d.). How Can You Create A Positive Organization? Retrieved from
https://www.michellemcquaid.com/create-positive-organization/
seppala, e. (2015, March). Positive Teams Are More Productive. Retrieved from Havard Business Review:
https://hbr.org/2015/03/positive-teams-are-more-productive

Aug-19 14
 CRONY CAPITALISM IN INDIA

N. ROHITH
1MCOMA

Every country is endowed with scarce natural resources like land, laboure, water, wildlife
and minerals which are finite in nature are being distributed unequally and looted
without being saved for further generations. Much of its economic growth and future
depend on efficient allocation and utilization of these resources in a sustainable manner.
There are different approaches adopted in different countries to address resource
utilization and ownership. Two widely prevalent approaches among these are socialism
and capitalism. Socialism is a political and economic theory of social organization that
advocates that the means of production, distribution, and exchange should be owned or
regulated by the community as a whole(government). Where as in capitalism a country’s
trade and industry are controlled by private owners for profit, rather than by the state.
The key point to note here is that even in a capitalist, market driven economy
government forms laws and regulates industry for greater good. Under capitalization the
entire risk is borne by individual entrepreneur. Those companies which are innovative
and efficient will survive in the market and those which are not will be subject to market
Aug-19 15
forces and disappear. This is what Austrian American economist joseph Schumpeter called
market destruction. To circumvent market forces, some businessmen use unscrupulous means
to influence people in government to get undue favors that give them an undue advantage
through bribery or other means. This leads to inefficient resource allocation and is often
called crony capitalism. Apart from inefficiencies, crony capitalism often leads to income
inequalities and creates haves and have-nots in the society. When it comes to India, our
country is the third fastest growing economy surpassing China. India despite being a 71-year-
old Independent country still some of the population are living in poverty. While Top 1
percent of the population owns 73% of the wealth and the rest 99% of the population owns
rest of the wealth of the country’s G.D.P. The richer are becoming more rich and poorer are
becoming more poor day by day. Certainly, there is a large gap in income disparities between
rich and poor in this country because of the reason that the concept of crony capitalism
existed in this country since independence. we thought that the economic reforms which have
been introduced in the year 1991 would change the scenario of entire concept but instead of
getting reduced eventually the crony capitalism has even much more increased when
compared to pre-economic reforms. meanwhile, when it comes to the relationship between
business people and politician’s in crony capitalism it is a deadly combo which is prevailing in
our country since quite a long period. The crony capitalism does not prevail only at the higher
level, as a matter of fact, it also starts from the level where a small contractor who wants to get
the contract to lay a 100 meters’ road to the level where we have seen the largest scams that
happened in this country. crony capitalism can be seen everywhere, with the increase in
crony capitalism, the amount of corruption and the amount of black money is also increasing
explicitly, stating that black money contribution is 50 percent of our G.D.P. We as citizens of
Aug-19 16
this country has every right on the resources which are gifted to us by this nature which are
being distributed by our policymakers to our business giants in an illegal privileged manner
who in return provides the election funding to these policymakers as an investment in the
form of quid pro co( something in return) as a result of this , key market players who has
been benefited with this quid pro co try to control the system directly or indirectly which
ultimately leads to lack of transparency ,accountability and slow down of economic growth.
Similarly, not only crony capitalism but also we can see crony banking in recent years where
the influential business personalities get loans from the banks by using their crony capitalistic
techniques and run away from the country without paying it back. For this reason, the non –
performing assets of banks have been raised to nearly 8.5 lakh crores by the end of Dec last
year. Finally, in order to reduce crony capitalism in India, there should be an ambiguity in
policy making, transparency should increase and use of e-governance to be widespread.
Governments policy should be process dependent, not based on an individual. The
Government should also simplify the licensing process and the public should also be aware of
what is happening inside the administration, media also should expose certain things which
are related to crony capitalism. Bureaucrats should be made independent, accountable and
free from government. Both policymakers and bureaucrats should have work ethics. To
conclude it end of the day people should also question the government and take part in
decision making.

Aug-19 17
References
(n.d.). Retrieved from https://www.businesstoday.in/current/economy-
politics/oxfam-india-wealth-report-income-inequality-richests-
poor/story/268541.html
(n.d.). Retrieved from https://www.vocabulary.com/dictionary/socialist
(n.d.). Retrieved from
https://www.investopedia.com/terms/c/capitalism.asp
(n.d.). Retrieved from https://www.fff.org/explore-freedom/article/joseph-
schumpeter-the-father-of-capitalist-creative-destruction/

Aug-19 18
INFLUENCE OF ORGANIZATIONAL CULTURE
ON EMPLOYEE TURNOVER

Supritha S
3 Mcom A

An employee is an integral part of every organization and an organization cannot survive

without adequate workforce. Employee turnover essentially means the number of employees
leaving an organization as against the total number of employees in the organization.
Employee turnover is a major problem in today’s world especially in the IT sector where the
turnover rate is 35% - 50%. Organization spends a great amount of time and money in
finding why an employee leaves an organization. Recruiting, training and retaining an
employee in an organization are a costly process and if an employee leaves, no benefits are
being reaped from incurring such cost. This is why selecting the right employee during the
recruiting process becomes very important for the organization. The failure of which might
result in a square peg in a round hole and vice versa. Every employee has a unique
personality and sufficient recognition must be given to an employee’s culture to boost his
morale. The involuntary employee turnover is monitored by the organization while the
voluntary turnover is becoming difficult to cope up by organizations as it requires keen
understanding of the various environmental and psychological factors that affects the
Aug-19 19
employees and the various absolutes like employee engagement, retention is to be looked into
in order to meet the employee wants and needs which results in employee satisfaction.
Each and every individual has a unique personality defined by their morals, values and belief
system on the basis of the environment that they are exposed to. Similarly, an organization
being an artificial entity has its own personality which is its culture. Employees play a major
role in the growth of an organization and vice versa which makes it necessary to retain them.
It is highly significant for the success of any organization that the culture of the employees
and the organization match. Any mismatch in this regard will result in a chaotic situation
wherein the organization would collapse. An entity is exposed to an ever changing
environment because of which the culture will have to be modified as per the current
scenario which is vital for its sustainability. The traditional approach talks of a work
environment that is isolated, static, passive and hierarchical while the modern approach is on
a much more dynamic, personalized, collaborative and proactive environment. Though there
is a paradigm shift from the customer oriented approach to an employee oriented one, as
recognized by visionaries like Steve jobs, its implications are seen in very few organizations
that are actually working very well. There is also a common notion among small businesses
that the cost incurred for the development of employees is not productive. 10% employee
turnover in an organization is considered to be healthy. But that is not the case in many
service sector organizations as surveyed by the Society for Human resource management.

Aug-19 20
DIGITAL WALLETS AND THEIR POPULARITY
IN INDIA

Ashlin Mathew
3 Mcom A

Technological developments have made smartphones to be important part of people’s daily

lives. Smartphones are used as a source of communication, entertainment, web searches, a
platform for socializing and even as a payment tool. (DR.S.Manikandan & Jayakodi, 2017).
The growth of financial technology has facilitated the smartphone users to perform financial
operations digitally using various digital wallets and applications. Digital wallets refer to a
platform which allows users to carry out monetary transactions electronically. It stores the
credit card, delivery address and additional payment details of a user with appropriate safety
and privacy. It is also called e-wallet, virtual wallet, electronic wallet, mobile wallet and it is
termed due to increased use of smart phones as leather wallet. (Dixit, Singh, & Chaturvedi) .
Mobile wallets are ubiquitous and is the current phenomenon in the financial technology
arena. It is a software application on a mobile phone that can be used to store and transfer
the money and has the functionality to replace a conventional wallet. This mobile-based have
Aug-19 21
Been an upsurge in the number of digital wallets developed in the past years compared to the
overall number of credit cards that have been created since their initiation in the 1990s
(Eappen, 2019). The year 2018 accountwallet, permits consumers to load a certain sum in
their accounts to make payments for purchase of goods and services. (Patel, 2016). Digital
and mobile wallets are very much similar in nature as they are used to transact online but the
distinguishing factor is that digital wallets may or may not be used on mobile devices but
mobile wallets are specifically used on mobile devices. (Mobile Wallet, 2019).
According to the recent statistics, in India there ed for 7.6% of digital wallets users ,a 39.7%
rise from the year 2017.India is leaving behind PC culture in favour of smartphones as a
result of which the mainstream payments are taking place on smartphones (Kats, 2018)
Mobile wallets as a tool for financial inclusion have been used by nations like Asia, Africa and
Latin America. In India, financial technology expanded after demonetization hit the country.
To overcome the issue of cash crunch during this phase, consumers and retailers switched on
to digital payments especially using mobile wallets. Three categories of vendors offer mobile
wallets facilities in India namely, telecom companies, autonomous wallets and nationalized
banks. (Manikandan & Chandramohan, 2016). Government of India and private companies
such as Mobikwik, Google Pay and Paytm have been actively encouraging payment apps like
Aadhaar Payment App, BHIM app and UPI App developed by the NPCI (National Payments
Corporation of India) (SINGH & RANA, 2017). It has been suggested that digital wallets has
the potential to be the solution for micro -payments during mobile and electronic transfer of
money and also to promote decreased use of cash during transactions. (Lonare, Yadav, &
Sindhu, 2018). Digital payments are becoming increasingly popular and are intended to make
Aug-19 22
it simpler for clients to purchase products and services. Paying with a smartphone is
considered to be much more convenient and safer than using a physical wallet. (Mobile
Payments to Continue Showing Strong Adoption Rate, 2016)
Dissemination of internet connectivity, development of fintech and advancement in the
telecommunication sector, banking and non -banking institutions enabling digital payments
and incentives by government are some of the major reasons for the boom of digital payment
modes in India. (SINGH & RANA, 2017).
India has always been a cash -driven economy which preferred doing financial transactions
through banks and other financial organizations but ever since digital wallets took over there
has been a paradigm shift towards cashless- economy enabling real time monetary
transaction. (Chakraborty & Mitra, 2018). Nevertheless, it is still a new concept in the
country with respect to the diverse population belonging to different generations. Digital
platforms, like mobile wallets are expected to deliver improved coverage and more reasonable
services to India’s unbanked community, enabling large scale economic inclusion (Deb &
Agrawa, 2017).
Despite the above-mentioned benefits and advantages, a number of consumers are not yet
completely prepared to accept the concept of digital payments. Particularly in India,
individuals are highly conventional and upholds their traditional methods and ideas. Also,
they are extremely cautious and careful when there is an issue regarding money. There is a lot
of suspicion among people when digital payment options are introduced and endorsed and
generally consumers have a habit of relating frauds and other scams to these new modes of
payments. (Padashetty & SV, 2013)
Aug-19 23
With new and innovative players entering the fintech market and the number of mergers and
acquisitions happening globally, the digital wallet sector is rising rapidly. The effectiveness
and success level of Indian digital payments service providers are expected to be challenged
due to growing competition, low financial literacy rates, expectation gap and absence of trust
on services providers by customers (Bagla & Sancheti, 2018).

Refrences
Chakraborty, S., & Mitra, D. ( 2018). A STUDY ON CONSUMERS’ ADOPTION INTENTION FOR
DIGITAL WALLETS IN INDIA . International Journal on Customer Relations.

Aug-19 24
 HOW STEVE AND APPLE CHANGED THE
WORLD.

Lukose P Luke
1 Mcom B

Have you ever wondered what does Eve, Isaac Newton and Steve Jobs have in common?
Yes, its apple. Eve ate the forbidden fruit and committed sin in the Bible, Sir Newton
discovered the law of gravitation while he was sitting under an Apple Tree! and Steve Jobs
the master mind behind apple which changed the entire world. Steve Jobs, one of the most
successful and respected entrepreneur in the world. In 1976 Steve Wozniak and Steve Jobs
created world's 1st computer Apple I, initially they were working in the Job's Garage and
was followed by Apple II, where 2 Million units were sold and made Steve Jobs wealthy and
rich. Steve brought John Sculley, an experienced entrepreneur to lead the firm. In 1985 they
had a power struggle with Sculley, in the Job was fired from his own company. To
overcome this, he started a new company in new field called NeXT and Pixar. Pixar was the
first company to create computer- animated film, the famous Toy story which became a
great success. After 12 years, Apple took over NeXT and brought back Jobs in the company
as CEO. Under Job's support and guidance Apple Company launched iMac, iPad, iPod,
Aug-19 25
iPhone which made Apple the most highest valued firm in the whole world.
Steve came on board in 1996. Apple was prominently used by creative and
innovative industries like advertising, design and motion pictures. Apple was on everyone’s
lips when they released iPod in November of 2001, the idea of storing more than 1000
songs in a really tiny device smaller Walkman was Surprising! Jobs changed the whole
world’s idea of how music is played and listened to. Within a span of few years apple was
the kind of technology that each and every one preferred. iPhone was released in the year
2007, many variations of iPhone was released in 2010. Steve Jobs was a visionary, a
perfectionist, and a bigger Ego. He didn’t mind about cost, feelings or people. The great
innovation that Apple ever did was under the lead of Steve Jobs way back in 2010 , which
was the iPad.
The first Macintosh arrived in 1984, following Apple’s success along with
Apple I, Apple II, Apple III. It was the first computer to use graphical user interface, that
pretty much attracted people. It also brought in mice which helped industries including
designers. According to the biography of Steve Jobs, the name apple was conceived by Jobs
after he returned from apple farm. Steve thought the name sounded “fun, spirited and not
intimidating” and something new that no one had named at that time. Jobs totally changed
the way the world communicates, entertains and interact. He even changed the way we
think about technology. Apple products have revolutionised the way that we do business
both for ourselves and clients. Their simple, clean design and incredibly complex
technology makes world class technology accessible to every business person. Jobs was a
hero of technology and innovation; his products speak for themselves. The introduction of
Aug-19 26
iPad has revolutionised computing. He created user-friendly products that were compatible
and easy to use. Job was known by few as a philanthropist, while the philanthropist effect
was rarely seen in the public, many have admired Jobs charitable nature. Jobs took an
initiative in promoting environmental friendly products while he was a CEO. Apple utilised
eco-friendly material such as recycled plastics and paper in its products to save global
reserves. Apple range of products are ENERGY STAR attested, which are energy efficient.
The iPhone, iPad, MacBook are synonyms to wealth and style. The craze for Apple
products has increased tremendously and thus apple has been ruling the smart electronic
market for quite a long time
Jobs was an inspirational business leader was Charismatic and Enthusiastic, he was
also some sort of a lifestyle guru. His foresights in trends and innovation has catered to our
needs in this Generation and our Lifestyle. Jobs was truly a Market Leader he never really
need research in the customer's needs and wants, giving it to them even before they wanted
it. In October 2011, Jobs passed away due to pancreatic cancer even after replacing it with
new one. Jobs describes himself as a “hopeless romantic” person who just wanted to make a
difference in life.
Governor Jerry Brown declared October 16th as 'Steve Jobs day' in California which
is celebrated every year by the state people. The big question now is will Apple ever be able
to bring innovative product iPhone, iPod, iPad? which created a revolution in the field of
technology

Aug-19 27
References
(n.d.). Retrieved from https://www.britannica.com/biography/Steve-Jobs
(n.d.). Retrieved from https://www.zdnet.com/article/what-would-steve-jobs-think-of-
the-todays-apple/
(n.d.). Retrieved from https://www.entrepreneur.com/article/197538

Aug-19 28
 CROSSWORD PUZZLE

ACROSS
1. Picking stocks that have already sunk to the bottom but still have some bounce in them.
3. In automobile history, the phrase ‘Fix it again, Tony’ was popular mocking of this famous brand in
its early during its launch in the US.
4. “You’ll wonder where the yellow went” is a slogan coined by Foote, Cone & Blender during the late
1940s for this brand
5. According to Unilever records, it was the world first registered brand and is therefore the world’s
oldest continuously existing brand. This soap is now made in India by Hindustan Unilever, a company
in which Unilever now has a 67 percent share.
6. Company was originally founded on October 16, 1923 by two brothers. The company established
itself as a leader in the American animation industry before diversifying into live-action film
production, television, and theme parks.
Aug-19 29
DOWN
1.The company is also known by Cavi Elettrici e Affini Torino. The company was founded Virginio Bruni
Tedeschi in 1924, in Turin, Italy.
2. “A Testament of a Furniture Dealer” is a manifesto written in 1976 by this company’s founder. This
Swedish furniture chain will launch online shopping services in a market — Mumbai — before opening
physical stores
7. This is an American news-based pay television channel owned by AT&T's WarnerMedia. Ted Turner is
the founder.
8. This is an Indian television media company founded in 1988 by Radhika Roy, a journalist. In a talk on
the 25th anniversary of this company, her husband Prannoy Roy said that he joined this company a few
weeks after Radhika had founded it.

ASWIN JULAS CHACKO

3 MCom A

Note- Mail your answers to [email protected] along with your passport size
photograph. First 5 respondent’s name whose answers are correct will be published in the
next edition.

Aug-19 30
 EDITORIAL TEAM

Dr Tomy K. Kallarakal Dr Theresa Nithila Vincent

Associate Dean HOD

Faculty Coordinators

Dr Akanksha Khanna Dr Raghunandan G Dr Aruna P

Team Members

Mohammad Daniyal

Editorial acknowledgement
The Editorial team would like to warmly thank the students mentioned above, who took keen
interest in materializing the “Mudra-July 2019 issue”.

Aug-19 31