Tuesday, 16 May 2017

Sustainable  Development  of  India
                                                                       

India is the 7th largest country by area and 2nd densely populated country in the world. Demographic forecasts suggest that by 2025 when India’s population begins to approach a steady state, it may surpass that of China. 

In spite of several achievements to our credit since independence, the unabated growth of population are resulting to burgeoning unemployment and poverty.

Referring wealth as a net asset of a person less any liability, India is 7th amongst top 10 wealthiest countries of the world with total individual wealth of  USD 5600 billion next to USA(48900), China (17400), Japan (15100), UK (9200), Germany (9100) and France (6600) ahead of Canada (4700), Australia (4500) & Italy (4400) respectively in same units. It is imperative that the ranking of India is largely because of huge population. However, the economy of India will likely grow at 7.6 % in 2016-17 and improve further.

One of the prime movers for industrial& economic growth is electricity.
At present major energy demand is met from conventional non-environment friendly thermal power generated from limited fossil fuel & gas resources. Hydro-electric power though renewable but contributing slowly due long gestation period and affect the stability ofeco-system by deforestation for construction of dams, reservoirs, etc. leading to soil erosion, flood & other natural calamities..

In 2016, our Prime Minister has announced an ambitious plan to expand solar energy installations in several manifolds not only being a clean fuel eliminating green gas emission, but also due to availability of Sun in abundance almost throughout the year in major parts of the country.
To visualize this dream, number of steps are taken by Govt. agencies and Public / Private enterprises. Some states are imposing mandatory installation of solar power plants in Group housing societies, Commercial buildings, Educational institutes and Govt. & Private multistoried buildings. Besides, our fast growing Real estate sector which is second in employment generation next to agriculture sector can boost the dynamics of solar energy by adopting Roof top solar power installations. As such we must tap the utilization of solar energy to the maximum extent possible.

India has 2 largest Solar Power plants of the world one at Rewa, Madhya Pradesh (under construction) with capacity of 750 MW  and the other one operating at Kamuthi, Tamil Nadu having capacity of 648 MW . The 3rd largest unit is in California, USA with 550 MW capacity.


Prof. Pradip.K. Mukherjee
Associate Professor
Dept. of Management Studies

Monday, 24 April 2017

Web Robots

A new disruptive wave of Bots (also known as web robots) is coming that is likely to disrupt web and mobile apps. Facebook opened up its messenger platform to developers for third party development of bots inside Facebook messenger and Facebook pages in April 2016.

We are also seeing Artificial Intelligence powered bots on popular platforms like Slack and even normal websites that are intended to save a lot of time. Apart from media agencies, cab booking platforms and others, bots are gaining popularity in the recruitment and selection process.

Venture Beat lists some of the most popular bots that are gaining popularity and disrupting the traditional hiring and selection process in a company. One of them is the recruitment chatbot Mya that automates 75% of the hiring process. It even provides an instant feedback if the candidate is missing any relevant or important information and ranks the candidates based on the factors specified.

Such bots are increasingly growing in the virtual space powered with Artificial Intelligence and Natural Language Processing and Mya is not the only one to automate recruiting and hiring process. Some of them also include sharing tips for interviews, personality tests and resume screening and feedback.

This is just one example of how bots can help humans and bots in the HR sector are getting popular and smarter and are likely to simplify and strengthen the recruitment and selection process.

Ms. Smriti Dua
Assistant Professor
Dept. of Management Studies

Sunday, 23 April 2017


The relevance of marketing research in today’s World


Marketing research has become an essential part of any market related activity. The pre-requisite to entering a market is a systematic research. Marketer can gain the advantage of knowing customers, suppliers and competitors through marketing research. These parameters help in deciding whether a particular product is viable in a market. Marketing research is not only done for entering a new market but it may also be conducted for launching a new product in an existing market.

There are several options open for companies who wish to conduct marketing research. They may conduct the research on their own or may employ an external agency for doing so. The cost factor, time period taken and expertise of the firm to handle marketing research are some of the factors which are taken into consideration while making such a decision.

Marketing research enables a company to make marketing strategies, forecast future demand, know the market growth rate for their product categories and give industry and country specific information. Data crunching and extracting relevant information for marketing managers is the main task of market research firms.

Future cannot be predicted in totality due to changing environment  arising out of consumer attitude.  innovations , new entrants in the market, etc. Marketing Research helps in reducing the quantum of risk involved though may not be able to completely eliminate it. In other words, it can be considered as a safety step in the large capital investment in present day projects and long term returns.


Thus, we can conclude that the relevance of marketing research is immense in today’s dynamic marketing environment. Without marketing research a manager would be groping in the dark. The risk is greatly reduced if proper marketing research is done. Since the consumers, government policies and competition are in the external environment, it becomes difficult to control them.  The only way is to know them and this information is provided by research. 


Dr. Sartaj Khera
Assistant Professor
Dept. of Management Studies

Monday, 10 April 2017

“Relations: A mathematical approach“

Relation is a word by which we connect at least two quantities by a rule.If there is no connection, it means there is no relation between the quantities, such quantities are treated as independent quantities in mathematics. Generally in algebra we define “a relation is a subset of Cartesian product of two non empty sets”. The definition of a relation indicates that without Cartesian product of two non empty sets a relation cannot be formed. Generally there are three types of relations in algebra Reflexive, symmetric and transitive. The relation which is reflexive and symmetric and transitive is called equivalence relation. Taking this theory in mind the researchers introduced the concept of intuitionistic fuzzy (vague) relations. Fuzzy sets introduced by Zadeh had a great importance in the field of management, computer sciences, and daily life problems. Later on the theory of intutionistic fuzzy set was introduced by Attnassove by using Zadeh’s Fuzzy set theory. In this present paper the author discusses a comparison between relations and vague relations,and their properties.

We are familiar with the theory of crisp sets. A set is well defined collection of objects. If we have two non empty sets A and B, then  a relation is the subset of the Cartesian product  of set A and B. Therefore mathematically suppose R is a relation from A to B, Then R is a set of ordered pairs (a, b) where a  A and b ϵ B.  Every such ordered pair is written as a R b.  If (a, b) do not belongs to R, then a is not related to b. Basically relations can be classified into three categories  Reflexive, symmetric and transitive. The relation which is reflexive and symmetric and transitive is called an equivalence relation. Reflexive relation : If A and B are any two non empty sets, and R be a relation between A and B Then relation R is reflexive iff a R a  a ϵ R. Symmetric relation : If A and B are two non empty sets, and R be a relation between A and B Then relation R is symmetric iff,        a R b → b R a   a, b  R.

Transitive relation: If A and B are any two non empty sets, and R be a relation between A and  B, Then the relation R is Transitive iff.      a R b,  b R c,   → a R  c    a, b, c,     R.

Now, the relation which is reflexive and symmetric and transitive is called an equivalence relation.

When we apply these definitions of relations on daily life we are able to get the real picture of a relation in which we are living. For example if we check the relation “fatherhood”.

By these definitions, then we are able to find exact picture of this relation. For reflexive relation, since no person is the father of himself in this world, therefore the relation of fatherhood is not reflexive. Again if a is the father of b, does not imply that b is the father of a. therefore the relation “fatherhood” is not symmetric, again if a is the father of b, and b is the father of c, does not imply that a is the father of c. therefore the relation “fatherhood” is not reflexive, symmetric, and transitive. Hence this is not  an equivalence relation.


Dr. Hakimuddin Khan
Associate Professor
Dept. of Management Studies
  




Wednesday, 5 April 2017

Career in Event Management

In today’s hectic era, when every person feels 24 hours a day very less time to complete his work and due to which they have forgot the real meaning of life. They rarely get time to celebrate and enjoy life. And indeed that is the place where scope of event managers lie.

Event management has emerged as a very lucrative and most sought after industry in recent years. With the increase in events being organized by individuals or organizations, need of skilled and professional even managers have rapidly increased. Well trained professional event managers must have the necessary skill-sets required in visualizing concepts, planning, budgeting, organizing and executing events. Though the industry has a huge requirement of professional event managers but it is still not sufficient to cater to the ever-rising demands of this industry. This is the reason, there are greater employment and earnings opportunities for professionals aiming to enter this field.

 Event management, a form of marketing and advertising, is a glamorous and thrilling field. It gives you ample opportunities for unleashing your creative potential. Event managers should have a flair for conducting events, a passion for doing it creatively, very good organising skills as well as the willingness and ability to work long hours.

People with an out-going and friendly nature, have a huge scope in this industry,and proves to be very successful.

And the very interesting thing is that today’s youngsters very well fir to such industries, where you can execute whatever you plan, but there is just a need of good planning.

There are many designated jobs in this industry like Event Planner, Event Coordinator, Event Production Head / Team member, Public Relations Officer, Event (Budgeting & Finance) Executive, Event Legal Executive etc.

There was a time when management of a whole event was to be given to a single event management company but now the industry has taken a big turn. Now a days people prefer to appoint specialists for each and every single task. For example for cultural part of the event a separate team will be hires, for food and catering a separate team will be hired, for decoration other specialist of the industry will be hired. This not only helps in bringing the best of the whole industry but also divide the work profile systematically. This is again the biggest reason of the increasing scope of a good career in this industry.

Undoubtedly this industry in coming years will be the most bright industry for the young people of India to make their bright future.

Ms. Himani Joshi
Assistant Professor
Dept. of Communication Studies



Tuesday, 28 March 2017

FACTORING

Credit sale of goods and services gives birth to the term factoring. Factoring can be defined as a method in which the debtor (trade debt) is sold to a factoring company at a discount on a continuing basis. In other words, we can say factoring is a process in which a firm (namely the client) receives the short-term finance whenever required from financial institutions (namely the factor) to manage their short term needs in a better position. Traditionally, this kind of service was very common in western countries but now, it is available all over the world. Initially when factoring service came into existence then it was only bank, the only financial institution which act as a factor and helps in collecting its client debt. But, in today’s scenario the picture of a factor has been changed. In today’s date it is considered as much broader concept. Today, any financial institution can act as a factor, he can administer the sales ledger of the client, provide credit control, help in collection of debt, purchases the client’s trade debt including accounts receivable either with or without recourse insurance against non-payment of debts. Thus, we can say that factoring is a combination of providing finance and management services to its client (firm). To put it simple, factor provides its management skills and finance to the firm for a certain fee or commission that varies with interest rates in force in the money market. Factoring is a special activity in which the firm can convert its credit sale of goods and services into cash by selling them to a factoring organization. Factoring service is termed as boom to manufacturer to a dealer of goods and services. With the help of factoring service, the firm can concentrate on the manufacturing goods, expansion of business, serving more customers etc and need not concern itself with non –profitable control and sales accounting matter. Factoring services can be drawn up normally for an initial period of twelve months, continuing thereafter indefinitely until notice (of about six months) is given. Factoring reduces debt worries and improves the cash flow. Factoring is an alternative source of funding which creates no liabilities. Factoring means financial freedom for your business. Factoring is not just about fast cash but it also helps in growth of the business.

The main types of factoring are:

  Ø  Recourse factoring- In recourse factoring, the factoring company assumes the risk of late payment but the seller retains the credit risk. Upon expiration of the grace period and if a debtor doesn’t pay , the supplier makes payment to the factoring company. The sellers risk is reduced because each customer undergoes a professional verification before hand of its ability to pay. If the factor has given some advance to the supplier then the suppler has to return back the amount received to the factor along with the agreed fees or commission. This type of factoring is also known as pure factoring.


  Ø  Non recourse factoring-In non-recourse factoring the firm sells the receivables to the factor. The factor makes the payment to the firm immediately or after receiving from the debtor. But in such type of factoring risk is born by the factor. If, the debtor fails to pay the amount of receivable or there is a delay in the payment of receivable then this loss is to be borne by the factor. In other words firm does not have any risk of loss due to delay or default of receivable, all the risk is taken by the factor. Therefore, in order to minimize the risk the factor carefully examines the debtor and his creditworthiness. This type of factoring is also known as full factoring.

Dr. Himani Gupta
Associate Professor
Dept. of Management Studies


Monday, 20 March 2017

Reverse Mortgage and Financial Independence of Senior Citizen

The financial services are undergoing transformation in current scenario and there is an upsurge of a whole new set of services one of them being Reverse Mortgage. The service was introduced by the Union Government in 2007 and has been aiming to give quality life to senior citizens. The service not only provides regular stream of income to old age people but also gives them an opportunity to live with dignity without being dependent on their near and dear ones.

This service is primarily the opposite of a traditional home loan. It gives an opportunity to a senior citizen to have regular income from the bank against mortgage of his house property. The borrower receives a fixed income from the mortgage and continues to stay in the house till his death.

The phenomenon initiates when the home even if of illiquid nature pledged by a senior citizen in exchange of regular payment to a bank. The bank evaluates the monetary value of the property by considering the demand for the property, prevailing property price and current condition of the house. The bank then provides a loan amount to the borrower after taking into account a margin for interest cost and price fluctuations over fixed loan tenure. With the payment of every installment of reverse EMI the individuals interest in loan decreases. The settlement of the loan happens on the demise of the borrower and borrower’s spouse. To settle the loan the bank first provides an option to next of kin to repay the loan along with accumulated interest. In case of disinterest or incapability of the individual the bank recovers its due from sale proceeds of the property. The excess amount left after the settlement of the loan with accrued interest and expenses, is passed on to the legal heirs. In case of sale, if sale proceeds are lower than the accrued principal and interest amount, the bank bears the loss of the amount that it could not recover. Such a loss generally arises where the bank makes an incorrect estimation of property valuation at the time of providing the mortgage as compared to the existing real estate market prices. The reverse mortgage interest rates could be fixed or floating and is determined by benchmark set by prevailing interest rates. The amount received through reverse mortgage does not attract taxes as it is considered as loan. Although a borrower is liable to capital gain tax at the time of sale of the mortgaged property by the bank for the purpose of recovering the loan.


Although very promising but the concept has certain issues within that need to be looked into, like the documentation process is lengthy and brings inconvenience to the applicant, besides the monthly payments are in annuity and are not subject to any increase even in case of emergencies. Despite of all its shortcomings, the reverse mortgage is ideal to supplement a senior citizen’s income in the post retirement age.


Dr. Deergha Sharma
Assistant Professor
Dept. of Management Studies