Managements Foreword

I am happy to learn that students of family business are organizing a two d a y B u s i n e s s festival "lnspirus" and a r e coming out with their magazine cum yearbook "Envisage". The g r o w t h of any e c o n o m y is to a large extent written by entrepreneur. In a country like India, f a m i l y b u s i n e s s and entrepreneurial firms have contributed not o n l y to the e c o n o m i c growth but a l s o to innovations. They h a v e also i nn ov at ed products and processes. The story of i n n o v a t i o n is n o t just restricted to low technology and common goods but extend to h i -tech areas including those in information, communication technology and entertainment (ICE). Dr. Rajan Saxena NMIMS as a n institution has been entrepreneurial and innovative. This is r e f l e c t e d by s e v e r a l academic initiatives taken by this Vice Chancellor institution, one of which is the two year family business program. The p r o g r a m s contribution has been widely recognized by the business owners as also by academics. I wish Inspirus and magazine Envisage a success.

I, as D e a n of the School of Business Management (SBM), take immense pride in the students of MBA-Entrepreneurship and Family Business as they launch "Envisage", the magazine and yearbook in their annual corporatecultural Fest Inspirus: The Spirit of An Entrepreneur. The theme of this magazine revolves around how one writes their own destiny and I couldn't agree more to this. Entrepreneurship and Small and Medium Enterprises have played a vital role in the development of the Indian Dr. Debashis Sanyal economy. Dean I really wish them good luck in all their endeavors and really hope for Inspirus and Envisage to be a huge success.

The level of talent at Narsee Monjee Institute of Management Studies is remarkable. In its MBA- Entrepreneurship and Family Business Program, we admit some of the best and brightest students from different parts of India and around the world. As the Associate Dean of this program, it is my privilege to work with the talented people that walk the halls of the School of Business Management. It is my responsibility to nurture this talent in a way that maintains and extends NMIMSs stature as one of the most prominent business schools in the world. We are very proud of our Alumni who are doing great work and showcasing their Prof. Seema Mahajan Entrepreneurial traits, leading towards success. Expect to see even greater accomplishments for our family business team in the future. Associate Dean I wish my students good luck for their Annual Corporate-Cultural fest Inspirus and this Magazine called Envisage. Heres hoping for a grand success. Once again, three cheers for the family of Family Business Love and Best Regards

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Bakul Chowdhary

Dear Readers, ENVISAGE: We write our own destiny Introducing Envisage, in association with Inspirus 2011 (the annual corporate fest of the Entrepreneurship and Family Business Batch of NMIMS University). This year is the genesis of Envisage, our annual magazine cum yearbook. The theme of this magazine revolves around how an entrepreneur defines the path he sets off on, knowing where he struggles to reach. He writes his own destiny without being deterred by anything or anyone. Starting from scratch with just a vision in mind, he forms a concrete path to reach his envisaged destination. He makes infinite blunders in his expedition but overcomes them. He may lose his way, he may falter, he may fail in his maneuvers but what makes him successful is how he strives to achieve what he had once envisioned. This magazine encapsulates interesting articles on innovation, leadership and entrepreneurship. It also includes inspiring stories of those who have left a mark in their journey of being a victorious entrepreneur. Readers will be able to relate and connect to these stories and execute their dream to make it happen for real. In a nutshell, the role of this magazine is to inspire, ignite passions, inflame desires, infuse beliefs and finally increase expectations of a victory. The Editor On Behalf of the Team

Right then, its that time of the year again when

the phrase farewell-party does the rounds. The time when you prefer to stay sober at the drinkingat-dome parties just to let it all sink in; when you ignore a peers ignominy merely to end on a positive note. The time when you take a deeper look at those blank pages of the notebook, which you often forgot to carry to class, as if they had a thousand stories essayed on them. The time when boys try to pretend being unaffected - their pseudo-machismo taking the better of their inner melee and girls cant get enough of hugging each other [to the utter delight of boys blessed with imagination]. And often, after marathon staring-at-the-blank-walls sessions during lectures, a teardrop swells overpresenting the varied hues of a lifetime in the white of the classroom wall;

like a rainbow surfacing on a clear sky after a mild shower. And for once you dont do [read: watch] what you normally do when your roomie has left the room all to yourself. For once, youre lost in that maze of memories: the labyrinth whose code no scientist, nay, no psychiatrist, could ever decipher. As you sit with your secret scrapbook in your lap and the Summer of 69 for company as background score, the I guess nothing can last forever shard takes a dig at you. And set in action is a motion picture that presents everything, however trivial, that has happened to you during your stay in the college for the past two years, reel by reel. And everything that you ever did or didnt do flashes past your memory ever since the time

ENVISAGE | April,2011

you set foot in this once-strange place that now feels like home. The first memories that come to mind are those of the Induction Week where the initially-portentous quote INTRODUCTION! fast turned funny solely on account of gross overuse and grosser under-application. Having come with dreams of encountering the Mumbai chicks, the schedule fast made even the singletons turn down Lady Slumber. The obsession with roll numbers made some ask a prospects roll number instead of the phone number! And though everything wasnt fine; there was a fine for everything. With entrepreneurs forming the majority of the breed, pals were few and far between. Of course, most of them were like the alarm clock: that friend-turned-traitor

colony of ants [only less hardworking] filed into their rooms to carefully reconnect the broken pieces of slumber-glasses. The room of a student was a church where opening a textbook, save on the exam-eve, was considered a serious breach of the bro-code and a convict accused of such violation was instantly tagged a geek for life. The clutter in a room was directly proportional to ones manhood. Lockers, here, were used to hide fairness creams and anti-aging lotions by boys and love-letters by girls. Girls, being the far-moreorganized species, arranged the letters in order from 1 to n; n being remembered as the last guy they dumped and 1 being the guy who invariably ignited the my-first-kiss Cinderella fantasy.

Nevertheless, the smooth functioning of the heart was intricately connected to the Internet-

which failed most in most morning classes; not to mention the snooze

connectivity; a fact which, like homosexuals, existed across genders. Fast running out of things to do [youre right, studying was never on the list]; spreading rumours about VAT (pronounced VAAT) became a favorite pastime for many. As phrases like Tere kitne aaye, Meri to lag gayi, yaar, Tu to star hai flew around like missiles in a war zone, making the air too heavy to breathe; the occasional load mat le played quite a savior. The last quip soon transformed into a Lighter Le approach, whereby shabby-looking guys took to fagging just to build a cloud of smoke around them in the hope that some juvenile would attempt to de-mist-ify them.

function, which had been created exclusively for the purpose of destroying the student communities GPA. The academicians, nonetheless, had their own version of this Satan: colloquially known as the faculty. And no sooner did one learn to weather the storm than it all began The morning classes were the biggest pain in the you-know-where. It was here that the 20-minute HIMYM episodes miraculously ballooned

themselves into lecture-long dozing. This was also the place where we first learnt to tell apart listening from hearing. No sooner did the clock strike the classes-over-for-the-day hour than a

ENVISAGE | April,2011

It is said that an average cigarette takes 4 minutes of our life. Of course, nobody told them that attending a companys average PPT takes 90a rather sorry tradeoff for a chain smoker. The word company always reminds a Businessmen of Opportunity, a committee which had taken Barney Stinsons Suit up advice rather seriously. The evenings were the only time when the Mumbai weather was a little benevolent to the body. As joggers and gymnasts clawed around post-sunset, the we-were-just-taking-a-walkaround-the-campus couples gave the nocturnal animals a run [read: walk] for their money. However Counter Strike and Poker were two activities that found fame across all distinctions of specialization, work-ex, etc. Its repercussions sometimes catapulted into desperate requests of Yaar please proxy laga de! Already 2 absent ho chuki hai, aur abhi to ek hi mehna beeta hai. At other times, it resulted in stepping on the dais with panache, declaring the topic of the presentation and then shooting back a searching glance at the projector screen to sift through the contents of the slide. At these times, of course, Santa had left us with a permanent panacea, something that neither time nor precision could scar the messiah named Seema. As words crawled out slowly from the mouth, it mirrored the CC printers, where every paper inching out of the printer made its presence felt; a seemingly-fitting retribution for the humongous paper-wastage all around. There were times when a wintry night turned hot, when a friends new-found hot romantic interest made you spew fire. At other times, the discussions on GDP, especially when the day constituted an Eco class, soared high. Mark Twain

be damned; statistics were thrown in from yesterdays Economic Times to add credibility to the discussion. The only bone of contention was that telecom sector reports were mentioned while talking Infra. These were later justified using I was just giving an analogy yaar. The sector analysis was obviously restricted to sectors 14 and 17, courtesy proximity. Only the IT-sector knowledge was kept out-of-bounds lest the World War 3 [IT-led of course] might start between Infy and TCS. At a place where we were expected to think out-of-the-box, our assignments were kept in pigeon boxes, which were always opened with trembling hands and a prayer on the lips murmuring No God, No God, No God! Similar prayers were heard while taking a sneak-peek into others plates in the mess to determine the menu.

The MANGO people had to taste the sour grapes. Talking about food, the canteen food was a mutually-agreed-upon vent for all the frustrations of the student fraternity. And Facebook wasnt the only thing we had borrowed from the West most recently. The other bubbles often burst during the semester-exams where a heart-broken vella ended up defending his plight by saying: Oh, marks?? Im not here for marks. I chase excellence!

Surprisingly, this species would be most active in group tasks [which reminded an onlooker of ineffectual orgies]. Incidentally, group tasks were the only time when this species prayed with all its might to land up in a GEEKS company. After all, a GEEK in need is a GEEK indeed! and rumour had it that the latter approved of requests much faster than the former.

ENVISAGE | April,2011

And all this surreal reverie is suddenly interrupted by a knock at the door. When the intruder leaves, breaking this eventful chain of thoughts, a different contemplation sets in. You think of the things you couldve done differently. You think of the difference you couldve made to the institute. You think of the things that could have valueadded to life. The stares of peers were too riveting and the stakes too high. And as you rue the absence of having tested theory through

concept of breakfasts again. The next time we bump into each other, suits and ties will cramp the exterior, an apt physical manifestation of the stifling of emotions which is happening inside. The old will have to make way for the new! These beautiful days would finally be over; the camaraderie would come to an end. The inexorable passage of time unyielding; the continuum would have to transcend. The laughter would fade away into smiles the

application, the vision of a white tiger emerges out of the herdand suddenly the rat race leaves you far behindin a league of your own. This all a fairytale, indeed! Fairytale, until reality raises its ugly head and quips: A word? And suddenly, as you see through the oxymoron that is the Friends Forever truism, valediction becomes the cruelest word in the English dictionary. Outside the gates of the campus, the big bad world awaits. The corporate, with all its gamut of expectations and disappointments, its mirage of games games people play, the chuckles and the jeers, awaits you. The safety valve obviated thus; a mistake will now be considered a crime. The student tag hence bequeathed; the learning phase is now over. Or is it? They say whenever a separation occurs in a mans life; a part of him dies. If that were true, our dear Alma Mater must have died a hundred deaths year-in-year-out. And the future well, things will never be the same againnever! Hundreds would wake up to the castles-in-the-air would be dashed to the ground; Caprice would disappear into oblivion; age would eventually come around and all that would remain is memoriesheart-rending ones of days spent in classA Thousand Splendid Suns.

By Ayush Agarwal

ENVISAGE | April,2011

Glocalisation Comes Of Age

Its
often debated whether globalization destroys or saves indigenous cultures. We hear outcries about worldwide Mcdonaldization. But we have not yet understood a phenomenon called glocalisation, where people have global and local perspectives at the same time. They have tremendous global awareness and insightful local knowledge. Glocality suggests that competitive advantages can be gained on a local rather than national scale and SMES, whether they are innovative, industrial, family businesses and small craftsmanship firms, can increase their competitiveness in international markets on the basis of a strong local integration. However as Indian SMES gear to take on the global business interface, GLOCALITY is essentially a concept brought and taught by the Multinational Corporations (MNCS). Product and promotion transfers are the essence of MNC marketing. Anyone travelling abroad can see Coca-Cola, Pepsi, Mcdonalds, Sony and Kentucky Fried Chicken everywhere. CocaCola and Pepsi are sold in 150 countries and promote their products in a similar fashion in almost all the countries. Given such an experience, one can believe that most products and promotions are easily transferable with or without any major modifications among the MNC subsidiaries. Rarely companies think about developing new products for their target markets. It thus becomes a viable proposition only when MNCS find unique, profitable segment for which they have no products. Indian scenario: In the current Indian scenario, the national economy and market place is undergoing a rapid transformation. Several reasons can be attributed to these changes. One of the reasons being Globalized - the explosive growth of global trade and international competition. The other reason is the technological change, which is a focal factor, as technological competitiveness is making the global marketplace a cutthroat platform. The Indian market is no longer a sellers market. Whoever provides the value for money, is the winner. Companies have huge idle capacities, as they have wrongly calculated the market size and installed huge capacities. Being one of the biggest consumer markets, India has attracted several MNCS. In the initial stages they set their foot print s in India with great enthusiasm as they presumed the market to be huge and if they command even a small share of the pie in the initial years, it would be a profitable venture. But many such MNCS entry was a failure because the market size assumed by them was an over-estimated one. By the time they realized that the Indian marketplace is a different ball game altogether, they were incurring huge losses. These global monoliths started looking like yet another company in the market place. Then the outlook changed when they started analyzing the market place in order to understand its dynamics. They dropped their traditional global assumptions about market behavior and adapted their offerings and the company according to the local prerequisites. They then realized that to succeed in the Indian market, they have to hire representatives who are much more aware of the Indian economic, political, legal and social realities as well as MADE FOR INDIA MARKETING STRATEGIES This in turn resulted in a hypothesis - Think globally but plan and act locally

ENVISAGE | April,2011

What does Glocal MNC mean? Glocal MNC means those having global presence but who plan their decision making and implementing capabilities according to the local market. These companies have realized that survival and success of a MNC depends on localization. `Made for India` marketing strategies takes care of MNCs global value proposition as well as helps them to come out with specific strategies so that they can compete in the

market. It helps them to decide their market segment, target market and market positioning. It also provides insights about trends that are set to engulf the market in the future. Why Glocality? It has been found that 70 per cent of the US product innovations are transferred abroad and it is six times more expensive to custom-build products than to transfer them from abroad. So it is profitable for a MNC to launch its globally accepted products wherever they go. However, here comes the differentiating factor. To find out the product acceptability, the market screening and transfer process begins with market need diagnosis which is done locally. MNCS want to have loyal customers as the outlook of such companies who are coming to India in the long term. MNCS have found that the Indian consumer exhibits a peculiar behavior.

How Glocality works? By hiring Indian professionals as well as tieups with Indian corporates. By communicating and changing quality perception. By proper communication in Indian languages. By rural marketing. By understanding cultural and social values. By providing what the Indian consumers want. By developing India specific products. By adopting localised way of distributing. Glocalisation thus takes into account all constraints to safeguard transnational worldwide positioning as well as well-defined marketing strategies to compete in the local market.

By Urja Padwal

ENVISAGE | April,2011

Republic of Scams
Regressive corruption deprives a nation while progressive corruption cheats it IPL scam, CWG scam, 2G scam the cancer of corruption seems all-pervasive. As we transit from license raj to crony capitalism, it is the ordinary citizen who is being short-changed in the process. What lies ahead?

Top class politicians, bureaucrats and business

peoplehave been indicted. For a nation heady with the success and international adulation that came from the speedy recovery of its economy from near-recession, this is a reality check like no other. The CWG and 2G scams are now the two crucial ingredients in the political stew being cooked by both the Opposition and the PMs Quislings. For good effect, both scams are being tom-tomed as emblematic of all the evils that plague India.To all of this, there is one word Politics. In this dirty, unruly and obnoxious game of politics being played, one can only expect corruption and its long term drastic effects on the economy. We hear such remarks on an everyday basis. And we make them ourselves.When the controversy surrounding the Indian Premier

League (IPL) hit the news-stands early in 2010, Indias cricket watching millions were a tad bit upset that their favourite game was being besmirched. A juicy spat between Lalit Modi and Shashi Tharoor, through the social networking site Twitter followed by an all-out war in the media, provided seamless entertainment to the masses. However, it was not any more entertaining when the Commonwealth Games 2010, the biggest sporting event to be hosted by India and the next big card in the India-China one-upmanship game, ran into grave trouble with the discovery of discrepancies to the tune of Rs 800 billion! To add to the appauling state of affairs, another scam blew away the entire Indian population that brought to light irregularities in the awarding of 2G contracts to telecom players with the involvement of Indias Telecom Minister A Raja

ENVISAGE | April,2011

and top business houses and that was, simply, the last straw.

But the Commonwealth Games and telecom scams are very different, is that they represent two very different kinds of corruption. I call them progressive corruption and regressive corruption. Progressive corruption is when you want to build a factory in India; the babu-neta nexus will suck every drop of blood out of you for licenses, permissions, clearances etc. Theyll demand huge, often unrealistic amounts, for the most ridiculous of things, like running water and garbage collection. By the time an entrepreneur opens his factory hes already down on both capital and energy. Abhorrent and unfair as this is, it is a system that makes money by making things happen, not by preventing them from happening. It unfairly enriches officials, but Politicians and racist what did you do, results in action, You tore up my planet with scissors and glue, products, jobs, profits which is why I call it Like a bully at school, progressive corruption. Your games are so cruel.

of nations based on the level of corruption. However, perceptions aside, the hard fact is this confronts an Indian on the street and asks him about black money and you get a nonchalant shrug! Clearly, corruption has percolated down to the man in the streetthe rotund guy who owns the little grocery store round the corner, the streetsmart property broker who shows you around the homes you want to rent on his motorcycle, the IT entrepreneur who cooks his books and takes pride in doing so, etc.The silver lining comes from an interesting perspective, though! That India is corrupt is no secret. The recent slew of scams does reflect an alert media and a lower tolerance for corruption than before. The sheer scale and spread of these scams has shocked the very core of the Indian population. Drawing room conversation among the educated middle class no longer simply laughs corruption away. Yes, its very selfgratifying to stand at podiums and hector the world at large about how we must all become different people overnight and end corruption simply because we must. But realistically speaking, even while we must continue to combat corruption with all our might, Ive given up on the hope that corruption will cease in

Indias practice of Do you sleep comfy, warm in your beds , regressive corruption When a bullet hits softly, through a little boys is based on the old head, idea of the highway hold up if you dont Land has no value, when its people are dead, pay, you cant and when husbands are lost, its not your proceed. Its best tears shed. exemplified by the CWG scam. The culture of pay us or go to hell is why the entire project got India anytime soon. delayed and decayed. The nation gained no prestige (in fact lost a lot!), the public gained few So, my humble request to our all-powerful corrupt civic assets because much of what was to babus and netas is to alter their modus operandi materialise didnt, and what did is too crappy to be and adopt progressive corruption as their model. meaningful. Regressive corruption deprives a Instead of holding up power stations, water nation while progressive corruption cheats it. The treatment plants, sewage systems, metro lines, and starkly different results of this are best seen in highways, please just build them and make your public works projects, such as highways and money off the contractors. Heres the incentive dams. if you ensure the projects come up in time and serve their purpose, no agency is likely to get the It is no surprise then that India has slipped to 87th public and political support to go after you. spot in Transparency International's latest ranking

Your fights over dirt, has split up my earth.

Compiled By Bakul Chowdhary

ENVISAGE | April,2011

The Blood Of Any Company: Its Finance

Mr. Jeet R.Shah holds a M.Com degree from Mumbai University. Apart from that, he is a Certified CM
Financial Planner (CFP ). He has over 6 years industrial experience in the field of corporate and personal finance. He has been teaching for about three years now. He is a visiting faculty at NMIMS, IBS, GIM and Indo-German Training Centre and has taken corporate training sessions for SBI, Mahindra Kotal Securities, and LIC. He was invited by SEBIs NISM to take a public education seminar.

What are the Financing Strategies followed today? Should one rely on internal sources or seek external sources? Exceptionally for SMEs, it depends primarily on the growth of the company. In the sense that if the growth is not that big, say 10 to 15 percent annually, then one should rely entirely on internal sources. This is largely the cash generated from operations. But if the company ventures into activities such as expansion, it may seek external sources. External sources encompass fund-based and non-fund based sources of financing. One may approach big companies to fund and assist them in their operations with a promised return. The expense is mainly on the marketing bit of the company as the
ENVISAGE | April,2011

profits yield through that. For example, The Times of India Group holds a stake in Infosys as it markets for that company. If such companies can follow this methodology, why not SMEs? There are Venture Capitalists who expect at least a 40-50 percent return on their investments and you have other sources such as term loans, overdrafts, cash credit etc. For that you may approach banks and other financial institutions. General Managers of various banks have targets to meet and they put forward requests to their superiors to provide customers with loans. These days people have become very innovative, in the sense that they keep 20-30 credit cards to meet their credit requirements.

Is it true that we can acquire loans with 2-3per cent interest? Comment It is all not true, just another myth. Itll be 6 months LIBOR plus hedging cost. Libor can go up to 4.65 per cent and thats just the interest you pay. Through ECB (External Commercial Borrowing), which implies that, we can get loans in terms of foreign currency dollars or pounds. After getting a loan, you need to hedge it: hedging cost is 5% as of now. On addition of both the percentages we get 9.65per cent. Apart from the above we have to pay 2.5per cent as bank charges presently, these are one-time charges. ECB has troubles too, as you cannot invest in land, shares, etc. This method of obtaining loan is only suitable for people in exports as you save on your hedging cost by inflow and outflow of dollar. But for people active in the domestic markets its not feasible and has a lot of restrictions. What should a companys next step be if its working capital position is tight? It depends whether its a cash crunch or credit crunch. In case its a cash crunch, you are left with not much of an option but to sell the assets of the company. Even if you are the most efficient person in the world, you dont have any choice but to sell something to pay a liability and meet your obligations. Even when the liabilities arent at a bad position: more current liabilities over current assets are not always considered as terrible. The trouble is when your credit limit is over, so either you may sell the assets or build the same. Theres another option available called factoring, which is not available in India as of now but is a very important ingredient to maintain our cash cycle. In case of credit crunch, nothing can be done on the spot; you should know your Cibil score. And if you find that your Cibil score is going low, you should take immediate steps to improve it. We assume that you dont have anything more to take; you have reached your CC limits. So one you

make the personal balance sheet strong as you get your OD limits on the collateral you give whereas CC limits are assigned as per your stock levels. Comment on MFOs. MFOs are Multi-Family offices and constitute a necessary part of any family business. Families can exceptionally ensure the preservation and growth of their financial assets and family heritage through this. This represents a centre of influence and stability to help families to store their wealth in an efficient manner. Most MFOs evolved from these family offices. In general, an MFO aggregates and focuses resources to facilitate a common interest in asset protection, cost control, financial education, family philanthropy and a host of other needs. MFOs have historically provided customized service levels and confidentiality not available from larger product-driven financial institutions. Other benefits are as under 1. Objective financial advice. 2. Creative solutions to financial issues. 3. Clearinghouse for financial, investment, tax and estate planning ideas. 4. Services are typically all you can eat for asset-based fee. 5. Advice from a professional team with diverse backgrounds 6. Coordination of other advisers. 7. Proactive advice a function of low client to employee ratio and frequency of meetings. 8. Delivery of best of breed money managers, custody, insurance, loans, etc. 9. Negotiated cost savings with other financial providers (e.g. investment management, custody, trading costs). 10. Integration of clients estate planning, income taxes, investments, philanthropic goals and family situations.

By Aanchal Kennedy Gajra

ENVISAGE | April,2011

Tracking- An Engineer, An Entrepreneur

A lot of what Im doing today is basically focused on making business processes more proactive.

The words technology and

India are now synonymous to the rest of the world. India has proved its mettle time and again when it comes to technology and its application for a better life hood. With success, India and technology we also associate tags like brain drain and high paying MNC jobs. The Made in India label is yet to get its due credit. People who decided to ditch that lucrative corporate cheques and took the plunge to establish a true Indian technology venture. Rohit is a story of how ambitions and a craving desire can drive an average college student to become a tech honcho people like to hear about. Rohit Nalwade founded Consumer Vision, a real-time service personalization technology company based at IIT Bombay

Technology Business Incubator which was his second successful start-up at an age of just 19. He had previously started an electronics services company during his under-grad years with two other friends, which

they sold after 22 months. Today he is the Managing Director of Keeptrak Research Labs, which specializes in providing tracking solutions. Rohit described various instances wherein he faced challenges and how he surmounted all of them with sheer desire and a bit of jugaad. Rohit always wanted to be an entrepreneur. But his father wanted his son to be an engineer. But destiny turned over a new leaf. A million-dollar idea struck him and he went ahead with it. He won the first prize at the IIT Bombay annual college business plan competition Eureka! - And went on to win several other business related competitions. It was after that he went on to translate the idea into real-time business application and decided to take on the business world.

Outlook for SMEs in respect to it.. Great companies are built when maximum time is spent in strategizing for the future, but if you look at most SMEs today, the majority of their time is spent in administering the company and not in making expansion plans. There are two primary aspects which will drive SMEs growth via IT- the primary one is using better collaboration tools. The tools already exist, but not many SMEs access these tools and work towards improving
ENVISAGE | April,2011

their workflow and team efficiency through these tools. One major aspect is that in most of the small organizations there are not many job functions, in a large organization there are many people and for every function there is at least one person with a clearly defined role. But in an SME it is not possible to deploy an army of people for various functions. There is a need for a system which enables proactive management style. Like today if we look at the attendance system of a typical company, even if it is

computerized the SME still maintains a hard copy of the same and the management will see the computerized reports only once in a month. This gives ample time to employees to think about various reasons for not reaching on time. Now think about an automatic system, wherein as soon as I walk in late, my supervisor would be informed real time. Such a system not only saves a lot of time during audits but also makes everyone in the organization more proactive. Thus proactive management is required at all levels and in all the functions. So I think apart from using better accounting tools, better word processing tools which improve basic efficiency, a paradigm shift is required that improves team collaboration, knowledge sharing and proactive management system. Today the topmost people in an organization might be using collaboration tools like social networking or enterprise collaboration tools, but the same is not true for the person who is at a lower level in the corporate ladder. For instance, can a person working at the shop floor give feedback to the top level management using these tools? The answer is most definitely a "No". However, if a simple tool like sms-to-email based feedback system is incorporated at all levels, not only is it user friendly but also brings in fast results on a real time basis. The question is how do we bring about this change? Isnt it difficult? Yes, it is difficult, primarily because of the traditional thought process. Like I said, there is no dearth of efficient IT systems. But, the inertia of people to use them. Systems are supposed to help people work more efficiently but somewhere in the implementation cycle we forget, instead of the system being designed and implemented for making people efficient, people start making the system efficient and this is the reason why a lot of major IT system changes fail. People will have to learn or theyll have to unlearn as per the new system, which is very difficult in a SME.

How does an SME decide the right IT service and provider? Ill give you a very simple example, when one gets an admit in the B school, he possibly asks every relevant and not so relevant questions from his peers, those who already hold an MBA degree. The same logic applies here. So when you want answers to your pressing problems, you go to a trusted source. One should clearly decide on the objective of going for incorporating the IT systems and then have at least one person who understands IT systems real well who can help in evaluating various possible options. Also, instead of trying to put in place a major IT system to start with, the process needs to be gradual start with something small like an inventory management system, a collaboration tool like MS Groove etc. and then slowly gain more understanding and move towards more complex systems. Comment on your research. A lot of what Im doing today is basically focused on making business processes more proactive. First of all, if you need to proactively react, it is imperative to measure the parameters of interest. You need to keep a tab on those parameters; hence the name of the company is Keeptrak. Keeptrak designs both hardware and software using a bouquet of various technologies like Radio Frequency Identification (RFID), Global Positioning System (GPS), ZigBee, Real Time Location Services (RTLS) etc., to name a few. Our objective is to design the tracking technology which has applications in almost all spheres of life, right from tracking the small kids and their school buses to pet animals to in transit cargos to, perhaps, your car keys! For a small business management, it really does not matter how the system works or what technologies it uses, what matters is that they get visibility into their people so we have created an abstraction platform that utilizes multiple technologies not only for tracking but also for providing a seamless view to the business.

To take on the big market, I have realized that it is important to build relationships, encourage change and make sure that relationships endure, says Rohit.

By Manal Mota

ENVISAGE | April,2011

Professionalize Your Organization-Now Is The Time

One
of the most critical areas for a Family Business is the management of its Human Resources. Though these businesses have always been handled entirely by family members, the latest mantra seems to be to get in professionals from the industry so that these businesses can grow more. But when these professionals are recruited, managing them becomes extremely tedious because of a wide gap between expectations and culture. We spoke to Prof. Vijaya Suvarna, Director, Liberation Coaches Pvt. Ltd., an HR and OB specialist who has been working closely with SMEs and FMBs for several years to clarify some of the doubts and queries from the Entrepreneurial perspective. Q. Most family business considers HR as an Additional expense on Balance Sheet? A. HR is an additional expense on B/S. It is definitely a load on the company, but the fact is people need to be managed. Entrepreneurs often carry a misconception about their employees; they consider them to be self-efficient and self-trained. They assume this because most entrepreneurs are like that. They work on their own; they assess their performance, commitment and loyalty towards the organization. But its quite an evident fact that we cant expect this from an employee. HR activities have already taken place in organizations such as salary, welfare, allotting work, incentives, etc. Generally the owners of such organizations perform these activities. For example, if the turnover of an organization is Rs. 36 crores and if he is spending 10 days a month on these activities he is actually spending a crore in a month. So if you look at it as an opportunity cost and if you dont have an HR department it can be a major loss to the organization. But if you have an HR department, it will look like a short-term expense to the organization. It is a long-term investment, not an expense. Q. Is Turnover really a factor for SMEs to have a HR team or HR Department? A. I suggest that more than the Turnover, the no. of activities that need to be done is a major criteria to settle on. If a SME requires an HR Department or not. The team may be small but the intensity level of the activities that they carry out is very high. Even companies with over 500 people do not have an HR department because their workers are outsourced and 20 members of the same family are working in such organizations. In a factory where there are high Industrial issues, there are external influences; there we do have the need for an HR department. The duration for which employees work is another criteria. If an owner spends more than 1 day a month, then we require an HR department. Q. What is the importance of Departmentalization in SMEs and advantage of going vertical? A. Firstly, some organizations start up as horizontal organizations. In any organization, the span of control is such that an individual can handle up to 5 people at a time. Beyond that there is depletion in the efficiency of that individual. Thus, the need of a structure (vertical) becomes essential. Secondly, horizontal structure even enjoys the open door policy where any individual can enter the owners office for various approvals like leave grants, salary, advances, etc. This reduces the efficiency of the owner, and thus the next lower level should manage this. Consequently we require a vertical structure to define job roles more effectively. Thirdly, in a vertical structure the growth is visible and more prominent and if everything is flat where is the growth? Why would an individual work in such an organization? As a result, the need of hierarchy or vertical structure becomes a necessity. Q. Professional and technical people have been apprehensive about joining SME. How to fill the gap? A. Yes, they have been apprehensive about this because even if they join a SME they find

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that their aspiration about wanting to learn something more, about freedom, about career development and the like does not happen in a family business. And if a person is completely professional and technically qualified thats what he wants-he wants to see himself growing, learning newer and newer things, wants to work in a professional setup where he can have people who report to him and he have some kind of structure, some kind of policy, some benefits. But none of this happens in a family business when all the top positions will be occupied by the family members irrespective of their IQ level, thus why would a technically qualified person want to join? The question was how to fill that gap. To fill the gap, you need to make the organization more structured, more organized, where processes are well defined, where performance appraisal is given, training and development happens very aggressively and proactively. Career growth and designation are properly defined. So, when a person is asked where he wants to see himself after 3 years, he should be given a clear career path to grow. In other words, the HR management of a SME is required and you will find that professionals would want to join, otherwise they will join when the have nothing else to do and will leave within 2-3 months. Q. What is more efficient Inbound or Outbound training for employees in SMEs? A. There is a very thin line-it doesnt matter whether its an inbound or outbound training but there are factors to be considered. Like Budget as most of the training programs are expensive. Second is specifically Technology, which we dont have, and which is to be introduced because without technology you cannot have in house programs. Outbound makes sense in terms of motivation where you have to motivate your employees and you want to see them having a little bit of fun along with learning. Even for teamwork where office is a constraint. But most technical and process education need constant attention, so even if a trainer asks you to do it outbound, we need to assess the situation, and find out what is the seriousness level of the training. Therefore for some serious learning, inbound is the pick.

Q. How to appraise the family members in the Organization? A. Other than the owners and immediate relatives, other family members are recruited because you did not have a choice as they came from close references. These people are not being assessed. For these people, performance appraisals is extremely vital because somewhere they must be aware that more than their references, their performance matters more to the organization. You may give weight-age to loyalty, etc. but somewhere the completion of work becomes very important. We should start with the owner where he gives the freedom of Appraisal by the other top owners, or appoint a coach or by third party. Performance Appraisal for family members should be done first and it should be made mandatory. If this is done then your employees will have no complaints. It is similar like assessing your balance sheet and P/L. Account. Thus, if the company as a whole can be assessed, the owners should be assessed too. Q. What are the various activities recommended for SMEs? A. Typically for an entrepreneur, he can start with his own appraisals and setting goals and objectives for himself in the beginning of the year. He/she can have numbers written and communicate the same to the next level and further make them set goals and targets for the lower level employees and reviews can be conducted every month or every 3 months. Again, they can work on few standardized policies simultaneously, like periodical reviews, timing of salary, policies on leave, advances, etc. They can start with some 10 policies, which can be followed by all. They can even have some basic training programs for everyone; therefore, we bring in the culture of training and learning. Documentation of all the employees, application form, blood group, educational background is integral. These are very basic steps to implement a HR system in the organization. Family businesses will tremendously benefit if their HR is streamlined, and this will help them to further build their goodwill, their credibility, their competence and their ability to take quantum leaps of success and professionalism. By Pankaj Sharma

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Do Business For Freedom

The days of the rich pot belly baniyas and the lalas bagging opportunities through influential political/bureaucratic contacts and suck blood out of their employees is now history. The era of service class parents pushing their children to get 99.95% to seek admission into best institutes only to get a high paying MNC/Govt. Job is gradually changing. Thanks to a new breed of revolutionary entrepreneurs. The heroes/mentors to the young educated Indian population which wants to make a difference and create value. The youth that sees opportunity in adversity and it is prepared to rough it out to the last mile. The power of ideas has fascinatingly evolved and is progressively remoulding the Indian business landscape. Narayan Murthy for an example started Infosys Technologies with a modest capital borrowed from his wife. Similarly, Kiran Mazumdar Shaw started Biocon in a rented garage space; Divyank Tarukhia started Directi Consulting at the age of 16. Some more are Rashmi Sinha of Slideshare, Sanjeev Bikhchandani of Naukri, Ajit Balakrishnan of Rediff, Suhas Gopinath (the youngest Indian entrepreneur at 14) of Global Inc. They all had one thing in common and i.e. Great Ideas. These guys made modest beginnings, focused on innovation and constant improvement grew stronger with each passing fiscal, leveraging ethical fundamentals to business; have today proved that great degree MNC job selling soap detergents to the baniya kiranawalas is not exactly the idea of a great work life. They could clearly identify the pot holes and creeks in the market during the early stages of their job careers and had the courage to quit the 9 to 5s and fill the needs with some innovative ideas bringing a huge amount of relief to the consumers and thus achieve the freedom to tread a strange path with small but sure steps to the top. After reading a lot on these entrepreneurs and the challenges they came across, its frustrating to see some of the most intelligent friends of mine with brilliant ideas and appropriate qualifications succumbing to the comforts of naukris when what they ideally should be doing is chasing those dreams and turning them into reality or die trying. On asking them why; they answer Boss practical bannana padta hai. I wonder to myself if the entrepreneurs I mentioned above were in any way impractical. I am sure they were not. They were more courageous, had enough conviction and an unusual sense of pride towards Business for Freedom. Business for Freedom is that spirit of an entrepreneur which makes him take the first leap, break open the cage of comforts, face the challenges and the harsh realities, work around the constraints, organise and reorganise his efforts and taste the sweet smell of success. He has a clear sight of his aspirations and an obsessive passion to achieve it. He has more appetite for life, for new things, for change. It is this spirit that sets him apart. It is this spirit that we must seek to discover within us. The spirit of doing Business for freedom.

By Samarth Dhawan
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From The Pages Of A Students Diary

I walk a lonely road, the only that I have ever known Dont know where it goes, but its only me and I walk alone.

These lines from Greendays Boulevard of

Broken Dreams have always inspired me to move ahead in lifeno matter whatever obstacles come in my way even when I am alone. This is my journey: from a student to being a professional then back to being a student As a kid I always knew I had a business back home to go back to sometime in life. Thats the reason why before joining my business I wanted to taste the essence of corporate life. I reckoned that my corporate exposure down the line would definitely help me in my future ventures and experiencing what an employee goes

A new corporate life was waiting for me. The first day was nerve wrecking, but at the same time, exciting. People from diverse nationalities working in harmony caught my attention instantly. I realized there was an open culture in the organization. Everyone was treated equally. There were no sirs and madams. It was all new to me because as a fresh graduate, I was only accustomed to address people as sir or madam. Slowly and steadily, the transition from a student to a professional was taking place. With constant training and motivation, I was transforming into a real executive. Soon I realized I was no longer a new trainee. Time passed by and I was entrusted with more responsibilities and duties. My confidence grew with time. Growing interaction with leading banks across the world, migrating processes successfully, awards and

through, would help me be a better employer in the future. Hence it was very important for me to work for a leading multinational which could deliver the right knowledge, expertise and global exposure. I was elated when I got the opportunity through campus recruitment to work for one of worlds leading financial institution. Life was about to change. It was a whole new world out there. For starters, I was completely mesmerized with the whole ambience of the organization. I was

recognitions, training new trainees as well as existing members helped me mold to a true professional. Some of the key learnings from my corporate life were how to make-work simpler by introducing automation. How to make complex processes simpler by just applying basic knowledge and mind. I realized not everything is as complicated as it seems to be.

stepping into a completely different world altogether.

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A solution lies just within the problem. I also became aware of the fact that networking was the key to survival in any industry. I understood it was extremely important to maintain cordial relations with everyone. It could either make or break a deal. Apart from all these factors, the best part was interacting with people from different nationalities. Their cultures were different from that of ours but their interest and respect for our Indian culture was heartwarming. I was also interesting to know their work culture but was not easy to follow theirs. Some of my biggest achievements in the organization would be

It was difficult to maintain work life balance. When everything was going smooth in life as well as work, I realized that something was confining my growth to learn. It was working under restricted parameters and I couldnt flourish. I wanted to expand my horizons and thats when I came across this course in Entrepreneurship and Family Business through one of my colleagues. I realized picking up valuable learnings from this course, coupled with a two year stint at the corporate level would enhance my capabilities as an employer. Thats when I decided to call it a day after two wonderful years at the multi-national. It was an eye-opener in many ways. I will always cherish the memories at the workplace I had. I have garnered knowledge which I probably wouldnt have ever known if I had directly joined my business or the course. Every single experience counts. Soafter a few years, when I look back at life with joy and satisfaction, I know where it all started.

being part of the team which won Team of the Quarter award for the quarter Oct-Dec 2009, receiving Spot of the Month July (2009), being selected to migrate a critical process in Mumbai and regularly receiving

appreciation from our London Counterparts for constantly improving the process. The successful migration resulted in further migrations to Mumbai from London. One of the best things about working with a corporate is the kind of other benefits you get. Picnics, late night parties, Five-star dinners were all a chunk of my corporate life. Apart from these, I was also part of various CSR activities. But the flip side was working in European shifts, staying back late at night and dealing with health issues.

By Harsha Haridas

ENVISAGE | April,2011

Innovation Is All In Your Head

What makes a business stand
out? What makes it better than its Competitors? What drives a customer to try out a product, and come back for more? What make you and your enterprise a success? Its neither investment nor manpower or positioning alone, that encourages your business to soar from its first month as an unknown brand or service provider to a thriving brand, and self-sustaining enterprise. The key to your business success is Innovation. The consumer must be reached in such a way that, your enterprise even though it is providing a run of the mill service and product, must identify with the consumer and claim their favor. This can be done only if your businesss core idea and service motto is to provide something that is both enriching to the market and consumers at the same time different enough to stand out in the right way.

deep understanding of the business aspect, product and consumer traits. An innovation in the business sense must appeal to the present market; it branches from the current sense of that industry but must reflect and counter the customers dissatisfaction in the contemporary way in which the service or product is consumed. In order to be struck by directional and a more concise innovation, one must first identify the target industry, then study the target audience or vice versa. One must think from the consumers point of view. Put yourself in their shoes and understand their dissatisfaction or gap in their wants and needs. Once this step is accomplished think, think and think some more. Let your ideas evolve from the present ones and the ones that you have just created. Think fearlessly, be theoretical at first, there are no wrong concepts or ideas that are unsuitable. This can be time consuming; a moment of revelation could originate in an instant or take years to be formed. Once you have a theoretical concept, put it down on paper. Create a cognitive map of the birth and maturation of

So what is Innovation? Innovation is something that renews an idea or creates a new idea. By the renewal of an idea, we mean to adapt it or evolve it to better suit the market and consumers changing needs. An innovation is a brainchild of a very spontaneous creation that is formed from a tireless and

an idea. What you are trying should not just be an inspiration but draw a mental sketch of the same. Identify the components of your innovation. Now for practicality to exist, every business is a functional enterprise. It must survive and in order to do so it must generate revenue. Is your innovation realistic? Would it work? Does it follow the present legal and profitable framework? Or more aptly so- can it exist in reality, following a business sense? Feel free to adapt. There are no rights and wrongs in ideas until they have been materialized. The trick is to create an idea that should be concrete enough to be a successful venture. Innovation is Change or creation Good Innovation is Positive. Good Business innovation is Profitable. A happy new Consumer is the sign of Good business Innovation and successful Enterprise.

By Bakul Chowdhary
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B-School Segmented
Students in B schools, typically fall in the following five categories: 1. Silent Assassins: They are the real smart guys. They do not get deterred by the fact the Professors give marks based on the number of sheets you fill, or on the number of arbitrary graphs and diagrams that you make. Their sole purpose is education, knowledge and exposure. They do not do a lot of talking in the class, but when they do, they talk smart stuff. People around are left admiring at the quality of what was said. They do not have anything against anyone; they are willing to help out other students, majorly because they know that they would still be better. They do not copy in quizzes, assignments or tests. They are amongst the toppers and usually get placed in the first or second day. 2. Head Bangers: They are the other extremes. They dont study but party almost every day. Theres regular stock of alcohol and cigarettes in their rooms. Unlike silent assassins, all head bangers usually form one group because of the extreme differences in activities, interests and opinions. Typically two pointers, three pointers, these people get placed fast, because they are street smart. They are anti-system who do everything that the system prohibits, and yet achieve results that they it expects. So considering a group of five, there would usually be one loser (read rich, arrogant, brainless, but full of attitude) and one sensible and intelligent guy who even out the group. 3. Jack of all trades: These guys are good at everything. They study party hard, and manage to have a good number of pretty looking friends around them. Everyone holds them in high regard. However, they fall in the middle of the spectrum. In the end, its always a smooth and easy life until eternity. They neither go through extreme lows, nor ride on the high waves. They are extremely social and amenable, other than those who are jealous of them. 4. Three point Five: pointers: These guys have a grad college attitude, but a good grad college, mind you. They are independent. They hate the fact that grading in B schools is not necessarily based on depth of knowledge. They get frustrated somewhere around the third term, decide that they are good and that they need to learn things but in their own way. They usually end up trying to do a lot of good things, both for themselves and for the college. Generally, their chance of success is very high. Such people usually form groups within themselves. They like observing, analyzing and remarking on people around. They try to be good to everyone, but know clearly who is to be trusted. . They take lead in organizing and coordinating events. They interact a lot with their profs., but outside the academic scope. 5. Blood suckers: They are the most dangerous lot. Typically thrive on the concept of relative grading. They do stuff like 'not take photo copies for a friend who always does it for him/her'. Essentially hypocrites, who bitch behind the back and act best friends in front. They are highly fake and artificial, and show characteristics of a chameleon. From best friend to 'I have seen you somewhere' to 'yet another stranger': these are the kinds of behavior typically shown over a period of two weeks. They fake intelligence and even quality, and are usually the most aggressive during placement season. If we were to believe them, the A and A+ grades that they got, were all the results of LSDs the profs. took while correcting only their paper. They somehow never know anything, and never study anything; but end up taking five extra sheets. They never find their performance in exams satisfactory. The least they are is 'fake'. Everyone should stay away from them, unless you are one amongst them. This disease is mostly prevalent in girls and rarely found in guys.

By Shruti Bagaria

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The She Factor

Times have changed. The way the world functions has dramatically evolved. We cannot help but notice how
women are doing wonders in various fields. From managing their homes to being at par with men at work, they are excelling in the art of balancing life. We spoke to Toral Desai, a Mechanical Engineer by profession who now runs her own organization called Shiva Products. About her Aged 31, Toral is an entrepreneur who works from home. She is self-confident and determined. She applied for job vacancies at prestigious companies such as L & T and Mahindra and Mahindra and managed to bag herself the position of a Design Engineer in both these organizations, but did not take them up. She always had an employer frame of mind. Her inclination and interest lied towards being an entrepreneur. Family background: Toral got married in the year 2005 when she was 25 years old. Her husband and his family were extremely supportive of her running an organization. She became a mother in the year 2007 and hence took a break from work for a while till her daughter was old enough. Motherhood had become her priority. Torals father and brother came to her rescue back then by handling all the operations at Shiva Products. In 2009, she resumed working. The Birth of an Entrepreneur: With her father as her guide and through his contacts, Toral first began with the manufacturing of Wax sheets as raw materials, which served the needs of the Art and Craft Industry from the year 1996. She managed to restructure the Glitter manufacturing company her father had set up. She saw a spark in the Dentistry industry and therefore started manufacturing consumables in the year 1997. Since then there has been no looking back for her. Her Hobbies: Toral is a simple person by nature. Apart from the zeal and passion she has for her business, she takes pleasure in listening to any kind of music, singing, watching and learning from informational and scientific channels. She loves to surf through the net as well. She loves chatting and playing with her 4-year old daughter, which she feels as the best part of her day.

The Balancing Act: We cannot help but wonder how many roles can an individual play on a daily basis. Toral says you need to strike the right chord to balance your life. She shares with us that she is a very punctual person by nature and likes to follow a fixed timetable. For her everything has to be well scheduled and organized beforehand. At times she has to make sacrifices, like on her sleep. She is up by 6.30 am every day, even on Sundays for the smooth functioning of everything, be it her house, work, young daughter and family. She is an inspiration to all. As an Employer: Toral believes in second chances. If her employees make a blunder once, she would still give them a second chance for their areas of improvement, however big the mistake may be. She doesnt command respect from her employees but expects dedication and punctuality as she even has a family to take care of. She can be firm with them, wherever required. But she considers fun as a necessary ingredient for motivating her employees. The office celebrates every milestone it achieves, be it an important deal or be it a few targets met. She makes sure she gives them incentives in the form of bonuses, promotion, etc. whenever they have out shown themselves.

Challenges: Everything in life doesnt come easy. You need to work hard for it and struggle to acquire the best in life, says Toral. Initially, any company would require some finance to flourish in the long run. She faced some financial challenges, like any entrepreneur. A low level of finance is always a hindrance to the progress of a venture. Apart from that, Toral had very less manpower in her company. Her ever supportive family was over-burdened with work namely her father and brother. Marketing of products was quite a challenge. Winning prospect clients had been a task for Toral and her company. The competition was also high as its a dog eat dog industry. If one is strong enough to deal with complications and determined to be distinguished from others, he/she is able to sustain in the long run. And thats precisely what Toral did. She believed in herself and her family believed in her and despite the obstacles today she is where she is. She has emerged as a victorious entrepreneur and her family shares her triumphs. Her story inspires us to live up to our dreams, to implement and execute them. To take immense pride in what we do, to not get deterred by what the world has to and will say. Her story also teaches us that through thick and thin, only our loved ones stick with us. She is truly an inspiration to all the women sitting at home with a dream to reach out to the world. By Aanchal Kennedy Gajra

NMIMS celebrated the Spirit of Entrepreneurship with Inspirus11. The annual flagship event INSPIRUS of MBA (E&FB) was held on the 10th and 11th March, 2011.
The event was a culmination of the determined efforts of the whole batch. Team Inspirus faced a zillion hurdles in their way; however, they overcame all those and put up a great show which truly set a much higher benchmark for the future. It all started as a dream. It involved instilling a picture of a national level Business fest in the minds of people. It involved a few sleepless nights, mind boggling hard work, immense teamwork and dedication of each and everyone involved in the making of Inspirus. It involved selling of an Idea, a product that was non-existent till then. It involved understanding each and every aspect of Management and using it in the most practical sense. Marketing & Advertising the name Inspirus, Brand Building of the festival, designing the Logo keeping in mind all the possible aspects, managing of the Human Resources delivering the best with limited resources, managing Finance aspects with the number of sponsors that we partnered with (approximately 30 in number) It involved a million collective decisions at the same time motivating all the team members and giving every individual a Vision of a two-day grand fiesta. It involved Strategic Management at various levels. It involved managing Logistics in the minimum possible cost and time. It involved Decision Analysis in terms of managing the work in limited time and approaching the apt potential sponsors for partnering with us. It involved negotiation skills including highball, double agent, empty pockets and even apparent withdrawal. Mostly It involved the never say die attitude of the team members of various teams and their grit and determination to turn a Dream into Reality!

Graffiti: Outside College Wall

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A brief of all the Teams that made It happen: Sponsorship Team This team was responsible for getting Inspirus associated with the potential sponsors from various arenas and geographies. This was an extremely critical vertical and a backbone for the event. The Title partner of the event was Noize Jeans and the team devised various Titles for all other partners:
Title Partner

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Creative Team This team took up the responsibility of all the creative aspects of Inspirus2011. They were at their creative best throughout the making of Inspirus. The team decided on the theme of the event-Making the right Moves and designed the Logo of Inspirus 2011. They worked on the designing of the teasers, posters, pamphlets, backdrop, drape etc. A sample of their unquestionable creativity is available on the web @ www.nmimsinspirus.com Media & Marketing Team This team was responsible for handling the marketing and advertising aspect of the event. They managed to attract participation from various colleges and helped the event to get a pan India reach. The team also coordinated with the media agencies and got the event huge coverage on a national scale. And the outcome was a legendary Inspirus2011, with participation from over 70 Business Schools across the country including iims, IIFT, JBIMS and S.P. Jain,

coverage by the media agencies including the Free Press Journal, Tele Coverage by Bloomberg UTV and many more. Event Management Team The Event Management Team designed and conducted various events that made Inspirus2011 a staggering success. There were some concepts that were unheard & some ways of conducting events that not too many people were aware of. The team faced major hurdles and obstacles but eventually they put up a great show that have raised the bar and set much higher standards than anyone had ever imagined. Security & Permissions Team This team was in charge of the security of all the guests, celebrities & all the other events. They indeed did a great job and the event was conducted smoothly on both the days owning to their impeccable and flawless job.

Events Theme: Chess

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Team Inspirus conducted a Summit where various big wigs showed up to address a batch of 240 Entrepreneurs and smes from various parts of the country.

Mr. Nirmal Jain-Founder and Chairman of India Infoline Ltd, Mr. Carlton Pereira-Managing Director of Tano Capital LLC, Mr. Hanmant Gaikwad- Chairman and M.D. of BVG India and Mr. Mr. Rohit Nalwade the MD of Keeptrak Research Labs participated in the Panel Discussion on Making the Right moves moderated by Mr. S. Venkatraman-Founder of Wealth Tree.

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The Inaugural edition of the Annual Magazine-Envisage was also unveiled on this auspicious occasion.

The panel discussion was followed by an interactive session with Mr. Pradeep Kidwani-Co-founder, Beer Lounge and Mr. Kamal Khushlani-Co-founder, Mufti Jeans on Whats the Big Idea.

Mr. Rohit Nair of Quizworks enthralled the audience with the final round of Business quiz where the top 6 teams of India participated where the team of Symbiosis Law College emerged victorious.

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One of the most sought after events The Best Manager attracted participants from the best colleges in India. Survival of the fittest was the mantra of success. The contestants were put through various pressure tests through both the days. The winner was awarded a trip to Bangkok by the title sponsor Noize Jeans.

B-Plan competition which was judged by experts from the industry attracted innovative business plans.

Pseudo Sensex was a very unique exercise where contestants experienced trading in an exciting and interesting format.

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Another major event was Treasure Hunt where the contestants had an amazing ride, cracking clues and discovering Mumbai in an adventurous way.

Ad making gave the participants an opportunity to unleash their whacky ideas and embellish it with their creativity.

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The event concluded with Genreyard The War of the Bands which attracted Rock Bands from across the country.

INSPIRUS11 was indeed an affair to be remembered. The success of this event has raised expectations for an even more spectacular INSPIRUS12! By Mayank Jain

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50 `Commandments` For The Class Of FMB

Dear Class of FMB 2011, This will be my last entry before exams written specifically for you; before i pass out year, Ill begin focusing on the future. As i end my college experience, i thought Id leave you with the things that, in retrospect, I think are important as you navigate the next year. I hope that some of them are helpful.

before they are due, don't let people tell you that you "should be more organized" or that you "should plan better." Different things work for different people. Personally, I worked best under pressure - so I always procrastinated... and always kicked ass (which annoyed my friends to no end). ;-) Use the freedom that comes with not having grades first trimester to experiment and see what works best for you. 7. At least a few times in your college career, do something fun and irresponsible when you should be studying. The night before my BBM final semester exams, my roommate somehow scored front row seats to the India SL ODI at a venue 2 hours away, went there just to see Zaheer Khan. I didn't do so well on the final, but I haven't thought about it since 2008. I've thought about the experience of going to that match, with a cute guy ;), at least once a month ever since. 8. Become friends with your favorite professors. Recognize that they can learn from you too in fact, that's part of the reason they chose to be professors. 9. Carve out an hour every single day to be alone. (Sleeping doesn't count.) 10. Go on dates. Don't feel like every date has to turn into a relationship. I swear. 11. Don't date someone your roommate has been in a relationship with. 12. When your friends' parents visit, include them. You'll get free food, etc., and you'll help them to feel like they're cool, hangin' with the hip college kids. 13. In the first month of college, send a hand-written letter to someone who made college possible for you and describe your adventures thus far. It will mean a lot to him/her now, and it will mean a lot to you in ten years when he/she shows it to you. 14. Embrace the differences between you and your classmates. Always be asking yourself, "What can I learn from this person?" More of your education will come from this than from any classroom. 15. All-nighters are entirely overrated. 16. For those of you who have come to college in a long-distance relationship with someone from school, despite what many will tell you, it can work. The key is to not let your relationship interfere with your college experience. If you don't want to date anyone else, that's totally fine! What's not fine, however, is missing out on a lot of defining experiences because you're on the phone with your boyfriend/girlfriend for three hours every day. 17. Working things out between friends is best done in person, not over email. (IM does not count as "in person.") Often someone's facial expressions will tell you more than his/her words. 18. Take risks. 19. Don't be afraid of (or excited by) the co-ed bathrooms. The thrill is over in about 2 seconds. 20. Wednesday is the middle of the week; therefore on wednesday night the week is more than half over. You should celebrate accordingly. (It

Here goes... 1. Your friends will change a lot over the next year. Let them. 2. Call someone you love back home a few times a week, even if just for a few minutes. 3. In college more than ever before, songs will attach themselves to memories. Every month or two, make a mix CD, mp3 folder, whatever - just make sure you keep copies of these songs. Ten years out, they'll be as effective as a journal in taking you back to your favorite moments. 4. Take naps in the middle of the afternoon class with reckless abandon. 5. Adjust your schedule around when you are most productive and creative. If you're nocturnal and do your best work late at night, embrace that. It may be the only time in your life when you can. 6. If you write your best papers the night

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makes thursday and friday a lot more fun.) 21. Welcome failure into your lives. It's how we grow. What matters is not that you failed, but that you recovered. 22. Take some classes that have nothing to do with your major(s), purely for the fun of it. 23. Its important to think about the future, but it's more important to be present in the now. You won't get the most out of college if you think of it as a stepping stone. 24. When you're living on a college campus with 400 things going on every second of every day, watching TV is pretty much a waste of your time and a waste of your parents' money. If you're going to watch, watch with friends so at least you can call it a "valuable social experience." 25. Don't be afraid to fall in love. When it happens, don't take it for granted. Celebrate it, but don't let it define your college experience. What say? 26. Much of the time you once had for pleasure reading is going to disappear. Keep a list of the books you would have read had you had the time, so that you can start reading them when you graduate. 27. Things that seem like the end of the world really do become funny with a little time and distance. Knowing this, forget the embarrassment and skip to the good part. 28. Every once in a while, there will come an especially powerful moment when you can actually feel that an experience has changed who you are. Embrace these, even if they are painful. 29. No matter what your political or religious beliefs, be open-minded. You're going to be challenged over the next year in ways you can't imagine, across all fronts. You can't learn if you're closed off. 30. If you need to get a job, find something that you actually enjoy. Just because its work doesn't mean it has to suck. 31. Don't always lead. It's good to follow sometimes.

32. Take a lot of pictures. One of my major regrets in life is that I didn't take more pictures in graduation. Digital cameras are cheap and you have plenty of hard drive space, so you have no excuse. 33. Your health and safety are more important than anything. 34. Ask for help often. 35. Half of you will be in the bottom half of your class at any given moment. Way more than half of you will be in the bottom half of your class at some point in the next year. Get used to it. 36. In ten years very few of you will look as good as you do right now, so secretly revel in how hot you are before its too late. 37. In the long run, where you go to college doesn't matter as much as what you do with the opportunities you're given there. The NMIMS name on your resume won't mean much if that's the only thing on your resume. As a student here, you will have access to a variety of unique opportunities that no one else will ever have - don't waste them. :O 38. On the flip side, don't try to do everything. Balance = well-being. 39. Make perspective a priority. If you're too close to something to have good perspective, rely on your friends to help you. 40. Eat badly sometimes. It's the last time in your life when you can do this without feeling guilty about it. 41. Make a complete ass of yourself at least once, preferably more. It builds character. 42. Wash your sheets more than once a year. Trust me on this one. 43. If you are in a relationship and none of your friends want to hang out with you and your significant other, pay attention. They usually know better than you do. 44. Don't be afraid of the weird pizza topping combinations that your new friend from across the city loves. Some of the truly awful ones actually taste pretty good. Expand your horizons. 45. Explore the campus thoroughly. Don't get caught. 46. Life is too short to stick with a course of study that you're no longer excited about. Switch, even if it complicates things. 47. Tattoos are permanent. Be very certain. 48. Don't make fun of kids in class, you know what I mean. You were like them, like 5 years back. 49. Enjoy every second of the next year. It is impossible to describe how quickly they pass. 50. This is the only time in your lives when your only real responsibility is to learn. Try to remember how lucky you are every day Be yourself. Create. Inspire, and be inspired. Grow. Laugh. Learn. Love Welcome to some of the best years of your lives.

By Shruti Bagaria
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The Race
"Quit! Give up! You're beaten!" They shout at me and plead. "There's just too much against you now; This time you can't succeed!" And as I start to hang my head In front of failure's face, My downward fall is broken by The memory of a race. And hope refills my weakened will As I recall that scene; For just the thought of that short race Rejuvenates my being. A children's race- young boy, young men, How I remember well. Excitement, sure! But also fear; It wasn't hard to tell. They all lined up so full of hope Each thought to win that race. Or tie for first, or if not that, At least take second place. And fathers watched from off the side Each cheering for his son. And each boy hoped to show his dad That he would be the one. The whistle blew and off they went Young hearts and hopes afire. To win and be the hero there Was each young boy's desire. And one boy in particular, Whose dad was in the crowd, Was running near the lead and thought: "My dad will be so proud!" But as he speeded down the field Across a shallow dip. The little boy who thought to win Lost his step and slipped. Trying hard to catch himself His hands flew out to brace, And 'mid the laughter of the crowd He fell flat on his face. So down he fell and with him hope-He couldn't win it now-Embarrassed, sad, he only wished To disappear somehow. But as he fell his dad stood up And showed his anxious face, Which to the boy so clearly said: "Get up and win the race!" He quickly rose, no damage done -Behind a bit, that's allAnd ran with all his mind and might To make up for his fall. So anxious to restore himself -To catch up and to winHis mind went faster than his legs; He slipped and fell again! He wished then he had quit before With only one disgrace "I'm hopeless as a runner now; I shouldn't try to race." But in the laughing crowd he searched And found his father's face; That steady look which said again: "Get up and win the race!" So he jumped up to try again -Ten yards behind the last"If I'm to gain those yards," he thought, "I've got to move real fast." Exerting everything he had He gained eight or ten, But trying so hard to catch the lead He slipped and fell again! Defeat! He lied there silently -A tear dropped from his eye"There's no sense in running anymore: Three strikes: I'm out! Why try?" The will to rise had disappeared; All hope had fled away; So far behind, so error-prone: A loser all the way. "I've lost, so what's the use," he thought "I'll live with my disgrace." But then he thought about his dad Who soon he'd have to face. "Get up," an echo sounded low. "Get up and take your place; You were not meant for failure here. Get up and win the race." "With borrowed will get up," it said, You haven't lost at all. For winning is no more than this: To rise each time you fall." So up he rose to run once more, And with new commit He resolved that win or lose At least he wouldn't quit! So far behind the others now, -The most he'd ever beenStill he gave it all he had And ran as though to win. Three times he'd fallen, stumbling; Three times he rose again: Too far behind to hope to win He still ran to the end. They cheered the winning runner As he crossed the line first place. Head high, and proud, and happy; No falling, no disgrace. But when the fallen youngster Crossed the line last place, The crowd gave him the greater cheer, For finishing the race. And even though he came in last With head bowed low, unproud, You would have thought he'd won the race To listen to the crowd. And to his dad he sadly said, "I didn't do too well." "To me, you won," his father said. "You rose each time you fell." And when things seem dark and hard And difficult to face, The memory of that little boy Helps me in my race. For all of life is like that race. With ups and downs and all. And all you have to do to win, Is rise each time you fall. "Quit! Give up, you're beaten!" They still shout in my face. But another voice within me says: "GET UP AND WIN THE RACE!"

Compiled By Nikhil Adesara

ENVISAGE | April,2011

PAST, PRESENT, FUTURE

Hear It From The Class Of 2009-11

From Bachelors in English Honours to MBA in Entrepreneurship and Family Business ---a totally different course, a totally different city and a totally different perspective, but perhaps one of the best decisions I could have ever made. FBM honed my communication skills, opened new horizons, and taught me practical applications to great business ideas. An amazing faculty and an even better visiting faculty made sure that we students were led in the right direction, but were made to think for ourselves, which I really think was the cherry on the cake. An institution and a course which enables students to have confidence in their own abilities and to be leaders in their own fields. It has led us all to actually believe in the magic of thinking big...as we take our final step ...a big leap from student to professional life...there is only one question that crops up in everyones mind - WHAT NEXT? Thinking out of the box- the biggest thing I have ever dreamt of is to set up a university like ours- but not in business or any other academic field but in the area of Performing Arts. This university will provide people with direction whose inclination lies in the field of Arts and will give them hope to make it big in the field they chose for themselves. This vision seemed a little too impossible to be achieved but our course, faculty and my friends instilled that confidence and belief in me to make this happen one fine day and gave me that ray of hope. How I play it out, who helps me, whether it will be possible is yet to be looked into. The fact that we believe in ourselves is what makes us stand out from the crowd. After these two most eventful years of my life, one thing that Im sure about is I will make it happen, I will turn these dreams into a reality, I will chase it irrespective of multiple obstacles. There are many people whom you meet in your journey to the top, and only a few supports you and believe in you. However, every time I meet someone who says with all the compassion and concern - "Oh dear, I don't think it will work out', I am only motivated even more to make sure it does!

Latika Pathela

We are authorized dealers of Maruti Suzuki in Chhattishgarh and Orissa. Also, we are builders
and developers in Raipur. We have developed residential spaces, commercial spaces and shopping mall. I had been working in the dealership for a year before I joined the course. Apart from understanding about the various aspects in the dealership, I got involved in Customer Relationship and Sales specifically. I also looked into a bit of human resources and general administration at the dealership. Firstly after going back, I intend to work at the Construction Company. I want to learn the practical aspects of this business and get deeper insights of the entire marketing aspect. Also, I have a business idea in mind which is to start an ambulance service in our state which has a similar business model like 1298 in Bombay. Though it would take some time for this to flourish but I wish to make it into a reality in the coming years.

Anusha Singhania

Our company Rukman Fabrics Pvt. Ltd. was established in the year 1997. We manufacture
and supply exclusive shirting material to wholesalers based in cities like Delhi, Kanpur, Ahmedabad, Bangalore, Chennai, Hyderabad, and Punjab. Our sales office is based in Mumbai and dispatching office is in Thane. Our vision is to be the most preferred brand among customers, suppliers, employees and investors; to achieve long term profitable growth through superior quality, innovation and commitments.' I will be joining my business after graduation. Currently our dispatch process is manual and requires a lot of human intervention. First step is to automate this process, I am planning to develop customized software which will have the features like bar-coding, track inventory location, send dispatch updates to customers etc. This will help us to plan for the next step of going international. We are planning to start exports next year.

Amit Manghwani

Anthems For Entrepreneurs

Black Eyed Peas Lets get it started : Conveys: Starting up The Black Eyed Peas are definitely doing their bit for the worlds party goers, but theyre also throwing in nuggets of wisdom for the dynamic entrepreneurs. Words of wisdom within this song are To lose this inhibition/Follow your intuition/Free your inner soul/And break away from traition. The soulful voice of Fergie and the energetic beats, gets the entrepreneur within you moving.

Aashayein Iqbal Conveys : Believe in yourself Soundtrack from the movie Iqbal is all about believing in yourself and work towards your goal. An inspirational song which gives you an adrenaline rush from within and will get the entrepreneur within you pumped up.

Daft Punk Harder, Better, Faster, Stronger John Mayer Bigger Than My Body Conveys: Push Your Limit This song is basically a great push towards understanding the fact that entrepreneurs should always try to push their boundaries and overcome limiting factors that surround them. Lyrics such as Someday Ill Soar/Someday Ill Be So Damn Much More/ Cause Im Bigger Than My Body Gives Me Credit For . This song is definitely an entrepreneurs number. Conveys: Work Harder The lyrics of this awesome song Work it harder, make it better/Do it faster, makes us stronger. This songs puts you in a mental state of pushing yourself harder, better, faster, stronger the exact requirement out of any entrepreneur.

Bon Jovi Its My Life Conveys: Do Your Own Thing There is no need for an introduction to this timeless song by Bon Jovi. Perhaps one of the most motivating songs for entrepreneurs. This is a song that will motivate you to always do your own thing in your way no matter what other people say.

Green Day Boulevard of Broken Dreams Conveys: Journey of an Entrepreneur A great song that aptly describes the solo journey of an entrepreneur. The long and tiring path may get lonely but the entrepreneur is ready to go through to it for the sake of his ambitions. Here is the look into the lyrics- I walk a lonely road/The only one that I have ever known. A truly moving song for an entrepreneur.

Survivor Eye Of The Tiger Conveys: Will To Survive A song that every entrepreneur MUST listen to! This song is all about survival. And the courage to fight against all odds with only the will to survive. In the dog-eat-dog attitude of the business world, the only way you stand a chance is with a strong will to survive and beat the odds. Eye of the Tiger is a great song for motivating your survival instinct.
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The Beatles : Baby you are a rich man : Conveys : Money as a motivation This is one of the freshest songs for entrepreneurs, a soundtrack from the movie The Social Network. It is a fact that most of us jump into entrepreneurship for the money. And this song by Beatles just seems to capture that so well. Money and fame is one of the primary reason we become entrepreneurs. Dont We ??

Top Ten Movies For Entrepreneurs

Rocky (1976) Sylvester Stallone is the quintessential entrepreneur in this movie. It is about the underdog believing in himself, with a vision to win and willing to give what it takes to win. Persistence & Perverseness: isnt that entrepreneurship all about

Wall Street (1987) Michael Douglas stars as the evil business man and Charlie Sheen as a budding entrepreneur in this Oliver Stone classic on share market & business The most memorable line from this movie is Michael Douglass Greed is good. Its a great line and it captures a lot of truth. Greed is a powerful emotion that drives business growth and buying decisions.

Jerry Maguire The movie gives a message of the driving forces of passion and integrity that leads the protagonist to voice his doubts about his industry, suffer the consequences and then pick himself up in order to grow a business on his own terms.

Glengarry Glen Ross (1992) A business movie classic starring the likes of Al Pacino, Ed Harris, Kevin Spacey and of course, Alec Baldwin, who delivers one of the most quoted speeches in business-movie history. A must watch for a businessman looking to set his sales force in action.

Guru(2007) A classic tale of rags to riches: the movie is a close depiction of the Dhirubhai Ambanis life and scores at all levels. The movie is about a young man trying to accomplish his dream of becoming great; and defying all odds on the way of his journey.

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Forrest Gump (1994) The movie revolves around the life of Forrest Gump- a mentally challenged man who shows us what it takes to be a businessman and a good friend. The message of the movie is simple: You should never forget the people who helped you out and that the right partnership can affect not only your bottom line but your life.

The Social Network(2010) The Social Network is inspired by the creation of the 500 million member social networking website, Facebook. A story centred on a teenager who becomes the worlds youngest billionaire. The social network will certainly pump up your adrenalin if you are a start-up guy. A must watch for every entrepreneur.

The Aviator (2004) Leonardo Dicaprio stars as Peter Hughes who changes the face of aviation industry through his compassion and knowledge. Hughes had a relatively easy entry into the entrepreneurial life via his father's company and money, what was admirable was his fascination with and eventual knowledge of the aviation industry. A story with which every family business guy can relate to.

The Pursuit of Happiness (2006) This Will Smith star-vehicle is the story of successful entrepreneur Chris Gardner. The Pursuit of Happiness doesn't explore exactly how Gardner built his entrepreneurial empire; it does offer insight into the man himself, a man who experienced struggles few of us will ever know in his pursuit of a better future.

Citizen Kane No list of great films, let alone ones about business, would be complete without this classic. The movie is about the relentless pursuit of wealth and power--and what, in the end, it's all worth. For those who haven't seen Citizen Kane, stop reading now and take care of business.

Complied By Rajat Jain

ENVISAGE | April,2011