Inaugural Address by Prof. V. Venkaiah –Vice Chancellor- Krishna University The living standard of the people has immensely changed due to technological advancement, which is part of globalisation. It further created a new class that can be termed as “the wealthy Indian middle class”, and it is this class that is promoting consumerism, said Krishna University Vice-Chancellor Prof. V. Venkaiah, in his inaugural address.
The Vice-Chancellor predicted that India which now ranked 12th in the global consumer market would emerge as the fifth largest consumer market soon, overtaking Germany. Today, India is the cynosure of many countries in the world, when it comes to the consumer market. Prof. Venkaiah said that it was time that the Indian corporate companies should geared up and made full use of the scenario by producing global-standard quality products and services. To drive home his point, the Vice-Chancellor spoke about the start-up ‘My smart price’. He pointed out that ‘good ideas work’. “The company was started by two IITians in a two-bedroom flat and today it has emerged as to be one of the largest online selling portals. Innovative thinking is the key to success,” he said. Hinting at the huge rural market, the Vice-Chancellor said that mobile technology has made business ‘borderless’. “Today, there are about 87 crore mobile users in the country and out of which about 30 crore are users from rural areas. The native companies should make use of this situation to their advantage,” he pointed out.
Today, India is the cynosure of many countries in the world, when it comes to the consumer market. Prof. Venkaiah said that it was time that the Indian corporate companies geared up and made full use of the scenario by producing global-standard quality products and services.
Session Chairman - Prof. A.V.Subba Rao- Telfer School of Management, Univeristy of Ottwawa, Canada,
Topic:- New Business Paradigms and Perspectives In Business Excellence He said, the scope for innovation in Indian market is immense, as it is a growing market, and young minds should capitalise on it and contribute to the overall development of the country.
He viewed business excellence through stakeholders’ perception and set consumers look for value, employees look for satisfaction and empowerment, share holders want wealth maximization and society expects corporate to assume citizenship role and treat environment with care.
According to him talent attraction and retention, workplace management innovations, managing diversity and providing equitable compensation are the new paradigms impacting business.
Resource Person - Prof. N.V.R. Jyothi Kumar - Mizoram University. Topic:- Achieving Business Excellence through Making Indian Innovations Happen According to him grass roots innovations are widely practised by several Indian companies and achieving greater success in their respective fields.
He cited, the example of Aravind Eye Care System and lauded the vision of Dr.Venkataswamy who provided an alternative health care model that could supplement the efforts of the government and also be self supporting. He also mentioned about the work done by Bhagwan Mahaveer Viklang Sahayata Samiti (BMVSS) which is the world's largest organisation serving the disabled. This NGO provides all its assistance, including artificial limbs, calipers and other aids and appliances totally free of charge.
He also highlighted about the individual excellence by quoting the commendable work done by Sri S.R.Rao the municipal commissioner of Surat during 1994 to prevent the plague epidemic in the city.
Resource Person - Mr. Jaya Prakash Jala, Assistant Training Manager, Academic Staff College, VIT University, Vellore Topic:- Reaching Excellence in Teaching Business Courses: Learning from Face Book Model In order to attain excellence in teaching business courses, he has drawn example of facebook and highlighted the following points:
The average user spends more than 55 minutes per day on Facebook. So, what are these users doing for 55 minutes per day? Our class room time is also almost 55 minutes and the key concern is what the learner does in the class during those 55 minutes.
Key factors to remember about face book is that it is engaging. It doesn’t let you leave. Holds you and keeps you there. Engaging is one of the key challenges for the teaching fraternity. I heard that people long to come back to facebook and do learners long to come to classroom?
If our learners are waiting for the class to finish, the semester to end and the vacation to go home, we have not yet engaged them completely.
It has started small and grown big to serve a huge community. Changed with time and technology. It is built on and built for people’s interests. It lets you participate, stay active
Are our classes tailor made? How do we tailor-make classes?
Learning styles, intelligences of individuals, heterogeneity of the class….etc
In our class room are they active or passive, do we let them participate or pass out….?
Face book is not just another social networking site it’s a culture and a new age practice.
Facebook is a mass social phenomenon in itself.
Theme Address by Dr. L. Prakash Sai, Professor, IIT Chennai Topic:- Individual and Institutional Excellence: Indian Perspective
Quoting Kautilya’s Artha Sastra which calls for business to be done while keeping morals uppermost, Prof. L. Prakash Sai of IIT Chennai asked students to strive for excellence at both individual and institutional level to create sustainable performance and growth. Delivering the theme address he cited the examples of several Indian Companies, which are patronized by the due to their policies based on ethics and value. “Leadership with passion makes all the difference to the successful running of companies.
Indian philosophy should not be confused with religious connotations, and one must emulate it to achieve excellence at both individual and institutional level to create sustainable performance and growth, said Indian Institute of Technology-Chennai, Professor, Prakash Sai. He was delivering the theme address on the second day of the three-day national seminar on ‘New Paradigms and Perspectives in Business Excellence’, organised by the Department of Business Administration, P G Centre, P B Siddhartha College.
The seminar is being organised in association with Indian Council of Social Science Research, National HRD Network and Computer Society of India.
Professor Sai pointed out that leadership with passion makes all the difference and quoted several Indian companies which base their policies on ethics and values.
Resource Person - Mr. Harshavendra Soin President, NHRDN Hyderabad Chapter & Vice President – Leadership Achquisition & Development, Tech Mahindra, Hyderabad. He said that traits like attitude, questioning status quo, to be inspirational and to have the courage to stand up for what one believes in and the ability to never give up are the chief differentiators in helping the young generation realize it true potential.
Tech Mahindra’s vice president (Leadership Acquisition, and Development) Harshvendra Soin spoke on various aspects such as attitude, questioning status quo, to be inspirational and to have the courage to stand up for what one believes in and to realise one’s true potential.
Resource Person - Mr. K. Satyanarayana, NHRD Network, President Emeritus Topic:- Human Element in Business Excellence National HRD Network’s president emeritus K. Satyanarayana in his address highlighted the importance of having a dream and a positive attitude to achieve happiness and success in life. He also emphasised treating fellow human beings with dignity and also on the need to cultivate doing jobs with one’s own hands.
According to him the term human element means the way we respect the other human being. We need to treat every other person as we expect to be treated. It has nothing to do with the titles or the jobs we do. One person may be the President of the company and the person may be a sweeper or a gardener. Both should command the same respect as both are doing their respective jobs. While all of us agree this fair treatment of others is most crucial for the success of any industry or business, most organizations are unable to attract, develop and retain talent as they fail to place the right emphasis on the ethical and moral perspective both at the time of recruitment and later in their inter personal relationships.
Attract the best and give them the freedom to perform. In today’s knowledge economy, your best assets are people. Create an environment where the best, the brightest and the people with most creative and innovative ideas are attracted, motivated, inspired, retained and allowed to unleash their full potential. Remember organizations succeed and survive because of involved people.
Resource Persons - Mr Sushmit Mitra, COO & Mr. Vijaybhaskar Srinivas, Head Process Control, Life Spring Hospitals Private Limited Topic:- Business Model of Lifespring The team from LifeSpring Hospitals has explained the model followed by their organization. LifeSpring Hospitals is an Indian hospital chain, which provides maternity care to women from the low-income group in Hyderabad, India. Established in 2005, it is a 50-50 joint venture between $30-million Acumen Fund, a U.S.-based nonprofit global venture philanthropy fund and HLL Lifecare Limited, a Government of India -owned corporation and the largest manufacturer of condoms in the world. As of October 2013 it provided affordable healthcare to 3,500,000 women with its twelve hospitals in Hyderabad, providing maternity and pediatric care at 30-50 percent of market rates, and is the first healthcare chain to join the 'Business Call to Action' (BCtA), an initiative of United Nations Development Programme (UNDP) and UN Global Compact amongst others, to reduce poverty, hunger, disease, and maternal and child deaths by 2015.
The hospital established a model of building a chain of small-sized (25-bed) hospitals specializing in standard maternity services thus provide low-cost services in high-density area populated by low-income groups. It also provides paediatric care, including immunizations, and offers diagnostic services, pharmacy and healthcare education to the local communities. It uses CRM to track customers in real time and runs a web-based patient database. They said that they are cost conscious since beginning. We have a lease agreement over time and this brings down our capex. Former schools, apartment buildings, old godowns are converted into hospitals so our cost of setting up is much lower. Apart from lowering their infrastructure costs, they look at the business as “low cost meant volume like a low cost airline”. Every month, at least 100 babies are delivered in each of their hospitals, which have a capacity of 20-25 beds.
Life spring has also lowered costs by relying on vendors. For example, in an in-house pharmacy, usually, there is pilferage, expiry of products or high inventory costs. Life spring has entered into an agreement where supply is just-in-time, which reduces their costs significantly.
Finally, Life spring also trains nurses to be midwives, bringing down the need to recruit more doctors as well as the costs. Not only do the trained nurses assist doctors, they also help with billing and administrative work.
Resource Person - Prof.B. Murali Mahohar, Vellore Institute of Technology, Vellore Topic:- ITES Growth & Challenges for India He spoke about the opportunities in ITES sector and presented various challenges in Indian context. He highlighted the need for developing business excellence models in IT sector. Business excellence frameworks are used by organizations throughout the world to guide their strategy, business processes and business improvement. Whilst the primary aim of adopting an excellence framework is to provide guidance for building organizational performance as measured by various success indicators, it is also a process which can involve benchmarking and internal self assessment around the core elements of the framework. According to him the most popular and influential models in the world are the one launched by the US government called the Malcolm Baldrige Award Model and EFQM Excellence Model launched in Europe.
Visionary leadership, Customer-driven excellence, Organizational and personal learning, Valuing workforce members and partners, Agility, Focus on the future, Managing for innovation, Management by fact, Societal responsibility, Focus on results and creating value, Systems perspective are the core values and concepts of Malcolm Baldrige Model.
He also highlighted the benefits of Business Models. When used as a basis for an organization's improvement culture, the business excellence ‘criteria’ within the models broadly channel and encourage the use of best practices into areas where their effect will be most beneficial to performance. When used simply for self-assessment the 'criteria' can clearly identify strong and weak areas of management practice so that tools such as benchmarking can be used to identify best-practice to enable the gaps to be closed. These critical links between business excellence models, best practice, and benchmarking are fundamental to the success of the models as tools of continuous improvement.
Resource Person - Mr. S. Krishna Rao- CEO, Infopark Rapid technological advancements could very well mean that the entire lifetime of an individual could be capture for posterity soon.
He said that it is becoming increasingly easy and affordable to record a lifetime of what one sees and hears, along with many new data source such as user logs and sensor data. Mr.Rao, explaining the swift technological changes, said that “My Life Bits” data model of Microsoft is conducting research on how to capture the entire data of a person’s lifetime.
“we are living in the ‘Tera Era’ of virtually unlimited storage, in which modes of data capturing are proliferating and very much useful in all aspects of life, he said that from the beginning of recorded time until 2003, five billion gigabytes of data was created. In 2011, the same amount was created every two days and in 2013, in every ten minutes. This, he said was a tremendous achievements of this century. Every day tweeters are creating 12 TB of data, 25 TB by the Facebook users, and much more by users of Google applications, he said, adding that business analytics was the emerging concept and every management graduate must appreciate its utility as variety, velocity and volume of data have dramatically changed.
Resource Person - Dr.S. Ganapathy Venkatasubramanian, Anna University, Chennai.
Challenges faced by countries in present business environment puts models of governance in constant state flux. Cyber technology, environmental issues are posing questions about sovereign status of countries. According to him most of the policy matters are subjective to international agreements and supervision. Political will, public participation and professional ethics forms the basis for building good governance models.
He also warns about selective intervention by developed nations’ raises geo-political tensions. In inter connected global business situation one should require lot of restraint and balance in addressing issues concerning many stake holders. Nations must follow and build sustainable and inclusive growth models based on the principles of equity and justice.
Two-Day National Seminar on “Problems and Prospects of Micro Small and Medium Enterprises in India”from 22nd – 23rdMarch, 2014Organized by Dept. of Commerce, S.V.U. CCM&CS, S.V. University, Tirupati.
Industrialisation has recognized as one of the development strategies all over the world. In the process of industrialization, people and their ability play an important role. The activity of promotion and development of small scale industries presently called Micro Small and Medium Enterprises (MSMEs) has been recognized as part o industrialization. The scope of MSMEs has also broadened significantly under the MSMED Act 2006. MSMEs play an important role in almost all the countries in the world irrespective of their stage of economic development. Developed countries like Japan, China, Malaysia, Taiwan, the United States of America and United Kingdom have also developed through MSMEs. The MSMEs also prospered better under aegis of globalization in India. The reasons for the growing prosperity of small scale industries in India is the use of less capital, simple skills and machinery. The MSMEs play not only economic role but also social and political role in the countries development by means of creating employment in the local area, balanced utilization of resources, income generation and the like. Besides, MSMEs sector plays a significant role in the improvement of production and exports of the country. This sector accounts for about 45 per cent of manufacturing output and 40 per cent of total exports of the country. This sector employs about 60 million persons in over 26 million units throughout the country. Further, this sector has consistently registered a higher growth rate than the rest of the industrial sector. Recognizing the relevance and role of MSMEs in India’s economic growth, the central and state government undertook number of programmes and policies to promote and achieve further growth of MSMEs units. No doubt these measures have been particularly effective, but many problems related to production, marketing and financing still continue to affect the growth of MSMEs units. These problems not only affect the effective utilization capacity of the industrial units but also hamper their prosperity.
A significant feature of the Indian economy since Independence is the rapid growth of the small industrial sector. The small scale sector which plays a pivotal role in the Indian economy in terms of employment and growth has recorded a high rate of growth since Independence in spite of stiff competition from the large sector and not so encouraging support from the empowerment. Small scale industries play a key role in our planned economy with their advantage of low investment, high potential for employment generation, diversification of the industrial bases and dispersal of industries to rural and urban areas. This sector has, therefore, been appropriately given a strategic position in our planned economy. It has a vital role to play in the fulfilment of the socio-economic objectives, particularly, in achieving industrial growth.
The present seminar assumes significance as it is intended to cover the different aspects relating to problems and prospects of MSMEs in India. It is my firm belief that the deliberations and outcome of the proposed seminar will certainly form a distinct contribution to the existing knowledge on the subject and enable not only the administrators and also policy makers in formulating and implementing a constructive policy so as to place the MSMEs in right perspective with vibrant future. The seminar broucher consisting of about the university, about the department, theme of the seminar, sub-themes of the seminar objectives of the seminar, important dates for submission of abstract (12-03-2014), last date for submission of full paper (17/03/2014) and seminar, inauguration and valedictory (22&23 March 2014) was transmitted through e-mails and post to a large number of faculty of different universities, organizations and educational institutions. Wide response has come to the seminar invitation.