Subject : education

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Psychologist Sanjay Chugh is a busy man these days. The no. of call he has received in the past two months from people seeking help with job anxiety and more than all such cases he handled in last five years.

Initially, Mr. Chugh’s patients were mostly from the Information Technology (IT) sector, which has seen about ten thousand lay offs this year. But in the past month Mr. Chugh has begun seeing patients with anxiety from sectors including financial services, tourisms and hospitality, retail, aviation and constructions. Although the job-cuts or lay-offs had been originally/really seen in the aviation, IT, and somewhere with the Export oriented industries.
No doubt, global financial crisis of this proportion can’t leave us untouched; it’s too early to come to any overall conclusion. With the Government’s admission regarding the GDP growth rate, a decline from 9 to 7.5%, we would come to a conclusion that growth rate of jobs would definitely move down. But while jobs are being cut, fewer new jobs are being created. India’s rigid labor laws are preventing western-styles lay-offs in the organized sectors. But no trade unions or law can force company to create new positions.
Bad times are good times for something – like cheaper housing, lower EMIs, better training, more innovations and greater overall competence. Above all, bad times are good times for innovations, it makes people think how to do things better. Supporting the above arguments we simply don’t opposing the fact that jobs have cut down. We are having such examples with us which indicates that crisis have started giving the result. One of the examples is Infosys. Technologies, which recruited about 35000 people last year, will sign on only 25000 recruits this year. About 1900 and more people lost their jobs with Jet Airways also.
But the above are not the only sectors with which people may have jobs. Until the FMCGs, Telecom, Consumer durable, manufacturing industries, retail and infrastructure sectors slumps, we have greater hopes. Despite the slowdown, there are five sectors that may provide sum job solace in 2009. Companies in core sectors such as power, steel, surface transport, cement, mining and construction are mostly going ahead with their capital expenditure plans in line with 11th and 12th five year plans. Growth will also be spurred by some SEZ projects.
We would like to state a statement of Friedman in 1976; “Only crisis – real or perceived, produces real change.”
This is the time to rethink on many agendas. History repeats itself, the great depression of America in the year 1929. If the globe, world had come out that, can come out of this.
Here, The VIBGYOR to juggle around are;

  1. An important thing is to have mental stability. We think crisis affects emotionally more than economically. Have patience; see the other side of coin which is full of positivity.

  2. An issue to think is whether this is really panic or the vast, unexploited opportunities knocking our doors. Bad times are good times for innovations.

  3. Somewhere media had played a role. The actual situation is not that severe which we have assumed now. We don’t deny, but crisis are perceived more than the real picture.

  4. This is the right time to explore new avenues and the potential of becoming entrepreneur. Don’t always seek for job but decide to be a job provider.

  5. Not doubt, the salary offered initially and the salary offered now by the corporate is showing down-ward scale. But at the same time, we should also consider the level of prices and rate of inflation has also declined.

  6. If we go through the past data of employees, who have lost their jobs, we may be able to give a clear indication that uniqueness doesn’t have any alternative. People who lost their jobs were skillful but not unique in kind.

  7. Lastly but most importantly Indian economy is not the dependent economy. There was the time when was struggling, time will come when India will shine, lets be hopeful!

A management learner should now allow a new thought to come. Arguments can be divided into two groups;

  1. Time to explore, open up new markets; wake up and admit that you are entrepreneur.

  2. Packages have really gone down?

Surprising! But things can be dealt like this also. Wave with us, we are explaining our first argument.

Mr. PrakashMenon was very content drawing a five figure salary as a chief marketing officer of internet consulting firm, “Brand”. One afternoon in the summer of 2002, he was shown the door by the company’s venture capitalist. With all most no savings in his bank, a list of EMIs to pay and a wife and child depending on him, Menon was initially lost. “It was scary”, he recalls. But Menon soon got himself to borrow Rs. 25 lakhs from a friend and launch impact marketing services and integrated marketing communication group. Today Menon employs 1100 people in six branches and counts company’s Coca-cola, Microsoft, Samsung and Britannia as clients.

Menon recommends entrepreneurship to all laid-off workers, employed worker and even the fresher.


In the year 1987, Mr. ShantanuPrakash joined IIM A. Waving off the flow he decided to launch a company with his friend. That was a time when school have initiated to give computer education to students, Mr. Prakash and his friend have decided to grab the opportunity and started setting computer labs for schools. Here they had been innovative, school need not to invest for labs but they were charged monthly fees per student. They succeeded. In the year 1990, just after the starting of three year, the turnover was 4 to 5 crores.

Again in 1992, Shantanu challenged himself by starting a new company namely; “Educomp”, focusing on software instead of hardware. The first product launched by Educomp was ‘school management system’. Passing successful eight year, in 2000, Educomp’s revenue stood at Rs. 12 crores and FY 2007-08 Educomp clocked revenue of Rs.276 crores with net profits of Rs. 70 crores. Even today, in this global crisis time, Shantanu firmly believes that Educomp will keep on growing over the next ten years. An advice to young management learner is the risk-reward equation. “There is no way that you will be economically rewarded lesser for being an entrepreneur then by taking up a job.” says Shantanu.

After studying at IIT Madras, R Subramaniam(RS) joined IIM A. as a summer trainee he decided to join Citi Investment Banking. 15 days at Citi Bank, RS released that if he stuck on there he would never be able to do something of his own in life. So he put off. And a unique chapter of store strategy with the promise of best value called ‘Subhiksha’ took its birth. In March 1997 he has started and just in 1999 they were ten stores only in Madras, in June 2000 it had grown to 50, 1000 in Nov.2007 and finally 1381 stores on ground in May 2008. Company is expecting a turnover of Rs.2000 crores with the profit of 40 – 45 crores. R Subramaniam believes, “Tomorrow will always be better than today.”


The above stories of THE ALTERNATE VISION, THE BELIEVER and THE OPPORTUNISTS clearly indicate that the only person knows your caliber is yourself. In this world, no one except you could do something for yourself.

None of them whether Mr. Menon, Mr.Shantanu or Mr. Subramaniam has started with huge capital investment, but all of them are unique in their proposals. We most of the time give up the idea of becoming an entrepreneur just by thinking of huge investment or capital requirement. Learn the art of grabbing opportunity, rest will find its own path. One of the principle of management is applicable here that it is not always necessary to do unique things, sometimes the ordinary thing done uniquely proves effective.
Banks lending rates have come down, levels of prices at almost every sector and segments have declined, various opportunities are available as the world have become global village, Government is providing us with various booster packages, if not know then by when do we understand our competency. This is the time to do more then to think. It’s already known an accepted that depression and crisis are there but then for how long do we think. We strongly agree with the views and ideology of Mr. ShantanuPrakash that you get lesser economic reward by taking up a job instead of being entrepreneur. We should strongly believe that tomorrow will always be better than today. We think somewhere what lacks is passion. We most of the time do not think in this path. Our atmosphere and surroundings and friends make us strongly believe that we are the job seekers. Think – what would have happened if Mr.Murti, Mr.Ambani, Mr.Menon, Mr.Prakash and many more have just been the job seekers?Awake and be go getter.
Wave with our second thought;

News has come out that the maximum placement by IIM-A this year, would be 8 to 10 lakhs approximately. Students of various B-schools are furious of this news. This is one approach to view.

Another view point can be described this way,
General commodities required by an individual to live life are;

  1. Home, land & Building.

  2. Life-style goods, living needs.

  3. Education, betterment needs.

  4. Transportation tools, car-two wheelers & others.

  5. Entertainment

Let’s check out the current, real and forthcoming scenario for the above five segments.

  • Home, land & Building:

There were jobs available by thousands for our young people. But one cannot do a job by day unless one has some where to sleep at night; even a ten-by-ten feet room cost on the Earth. The shortage of housing made everyone panicky. If one did not buy a flat now, it would cost twice as much next year, was what everyone thought. That was not speculative buying; it was fearful buying. Now the fear can subside. As for real estate a Goldman Sach’s study says favorable demographics, low mortgage penetration, falling interest rates will reduces prices. As demand has slackened, builders have caught the panic, they are getting desperate about finishing development, selling them off and putting their finances in order. As a result, home prices have come down a bit. They will no doubt come down more that is something worth looking forward to.

  • Life style goods, living needs:

Daily necessities never go away. Even though most of the commodities belonging to FMCG group registered a crunch of 4 to 4.5%. People have started delaying / postponing their consumptions for a while until the prices cuts-down up to the affordable level. People now restrict investment in luxury product. We think change of this kind in the spending habits affects the prices of basic needs segment and in the forth-coming days market will show the down-ward trend.

  • Education, Betterment needs.

This is the segment where too much of cost reduction is not possible. Experts believe that “if you find education costly then try ignorance.” But there are no such scopes of improvement in the charges for better education. At the same time Government is trying to increase seats so that comparatively cheaper and qualitative education can be provided. Transportation tools, cars – two wheelers & others On Indian roads mostly economic car runs swiftly. It was expected that this swiftness will no longer be visible as the fear of crisis found place in the minds of people. But declining move in the graph of sales to most of the companies had made them forced to reduce prices. Almost every company belonging to any segment has reduced their prices and this change is ranging from Rs.15000 to Rs.50000 per car. Apart from this ‘Nano’, the most economic car is on its way to serve us. Peep in to the two wheelers segment the battery bikes are being available. The renowned two wheeler companies are researching more and more to provide better averages/mileage at comparatively lower cost.

Fuel / petrol prices have also gone down. The prices of crude, from 120$ per barrel have reduced to 40$per barrel. The petrol prices have come down by Rs.5 to Rs.7.

  • Entertainment, Refreshment needs.

A middle-class fellow or a job oriented person can’t afford luxury and leisure, like club membership, world tour, fashion & brand craziness and many more. For him a sort of entertainment is enough.Here entertainment includes food and beverages/restaurant, tourism, cinemas and theatres. Talking about food and beverages, the prices have come – down for sure as even in the festive seasons, owners were not able to generate considerable or expected revenues.Tourism industry this time got affected highly due to the slow – down or recession. Most of the hotels were providing a discount of 40 to 45% on their regular prices.

Above discussion clearly indicates the facts that even if the packages have gone down an individual need not to worry much. Yet situation is not worst that we can’t manage.The above five segment almost includes everything that an individual is required to pass – out his life lavishly. And almost every sector is showing down-ward trend for prices. Which makes us understand that even if the packages are going down, individual

would be able to afford luxury.
There was the time where the packages of 4 to 5 lakhs p.a. was needed or requiredfor dealing luxury. But now even 2.5 lakhs p.a. can get you the same. So need not to fear much. Packages have practically not gone down. Some where the picture is depressing but the reality is not..

At the end, we want to tell you something. You could take them into consideration if you feel so.

  1. A person needs to change his spending habits. We have pampered out spending habits so much that we have almost lost the importance of savings. Cultivate your saving habits

  2. Hard work and smart work do not have any alternative. Last lay-offs from aviation and IT industry make the picture clearer. If you are supplement you are out. This is the time to prove yourself. The best don’t find any competition. Our industries are fast approaching maturity. It is high time that they invest in skill-enhancement. Companies will be less tolerant to under-performing employees and this time, you won’t get a second chance.

  3. It was always important but, even more important now, to focus on good career choices than just another high paying job.

  4. As the result of crisis, which have started appearing in last two months considerably will reduce the level of prices. In the coming months there are greater hopes that prices will go down.

  5. Rate of inflation has come down from about 12% to 6% - 7%.

  6. Sensex is showing fluctuations but now somewhere it has become steady. The people, who were not able to receive the benefits when Sensex was 21000, can smartly receive the benefits now.


  • Stay Hungry Stay Foolish – Rashmi Bansal – IIM (CIIE) Ahmedabad – ISBN 978-93-81626-71-9

Necessity of Manuscriptology

Kuntol Ganguly * Subhrasleta Banerjee**

Deptt. of Sanskrit Deptt. of English

Balurghat College Balurghat Mahila Mahavidyalaya



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