Prof. Ajay Garg – 24thMarch 2012
A workshop on Ethics and Governance was conducted by Prof. Ajay Garg on 24thMarch 2012. The issues discussed in the workshop included the board of director’s functions and issues associated with them, the SEBI guidelines corporate governance, parallel between the US and Indian guidelines on corporate governance, difference between the corporate structure of US and Indian companies and lastly Enron scam. The basic function of board of directors of any company is to protect the shareholders rights. Because of differencein the concept of ownership and management of a company there is a need to protect the rights. A person is appointed to the board of directors by the management of the company. This person has to be as independent as possible from the company i.e. he shouldn’t have any financial or any other kind of interest either directly or indirectly in the company. The directors are not involved in the day to day management of the company but being independent they have the right to ask pointed questions to the management regarding any decision it takes. Also since they don’t involve in day to day management they are not liable to criminal proceedings. However it is observed that there forms a cross membership of board of directors meaning that A can be on the board of company owned by B who is on the board of a company of owned by C who is on the board of the company owned by A and thus the
purpose of having an independence board gets defeated. Also many guidelines on the good corporate governance given by SEBI are similar to those given by SEC in US. However there exist a basic difference between the corporate structure of US companies and Indian companies. In US companies the ownership of companies is more widely distributed i.e. the promoters own comparatively less owner ship which is in stark contrast with the structure of Indian companies. This renders some of the guidelines useless. The workshop ended with the discussion on the fall of Enron. Even with the strong compliance guidelines by the US SEC there many corporate frauds happened in US implying that for better governance it is the internal motivation to follow good practices that going to bring a change rather than stronger guidelines.
Prof. Sushil Kumar – 11thMarch 2012
Prof. Sushil Kumar conducted a workshop on Ethics and Environment on 11thMarch 2012. In the session many points related to the unethical practices followed by entities and its effect on environment were discussed. He also discussed the concept of carbon footprint and water footprint, oil leaks, communities developed on the waste dumping land and entry of harmful chemicals in the food chain. Carbon foot print refers to the amount of greenhouse gases that an entity emits. The concept of water footprint takes a more comprehensive view by considering the consumption of water at every step right from the raw material procurement to end product manufacturing. Apart from that the huge oil leak in different parts of world were touched upon also pointing out the double standards adopted by US when dealing with oil leaks claiming billions of dollars while shielding the Bhopal gas perpetrators. Also discussed was the phenomenon where waste dumping lands are used for community settlements and the water or food from these regions have high amount of certain chemical thus affecting the human health. The dumping of CFL that contain high mercury content will lead to entry of mercury in the food chain at some point of time causing health related problem.
Tata Motors Plant Visit – 27thFeb 2012
Students of IIM Kashipur visited Tata Motor’s plant in Pantnagar, Uttrakhand, on 27th of Feb, 2012. The aim of the visit was to acquaint students of the industrial practices followed in a large manufacturing plant and to appreciate how theory is applied in real life scenarios. Tata Motor plant is one of largest auto maker plant in India. Pantangar plant has an total area of 10,000 acres, 650 acres is being used by TATA Motors, while remaining is being used by supplies. They have a very good base of supplies in their vicinity to fulfill around 90% of demand for different components needed in plant. TATA produces mostly commercial vehicles such as Tata ace, Tata magic and Tata venture in this plant. The plant has a capacity of 1200 unit in a year presently, and the capacity is
expected to rise to 1460 by the next year. The visit began with a session with the plant manager of the plant. The session revolved around the history of Tata Motors, values that drive the organization and how it has transformed and redefined itself over the years. The manager shed light on CSR activities undertaken by the organization, and about the career prospects of a new recruit. After the session the students proceeded to the production facility of Tata Ace. The students learned various nuances of production and understood about the bottlenecks faced by the production facility. The session was highly interactive wherein the students also suggested solutions on their own. The whole visit was conducted very smoothly and was a great learning experience for the students.
Mr.JatinderSalwan – 25thFeb 2012
Mr.Jatinder Salwan, Associate Vice President, Mphasis took session on “Corporate Governance and Ethics” on 25th Feb 2012. Mr. Salwan talked about the importance of ethics in corporations and how important it is to adhere to strict code of values and rules. Citing various examples, Mr. Salwan elaborated on how various frauds in recent years have changed the dynamics of industry and how laws have correspondingly evolved. Apart from the main topic, Mr. Salwan shed light on what recruiters look in a prospective candidate and how students should continually strive for improvement with the changing needs of the industry. He motivated students to work and persistently strive for excellence.
Mr.Shivang Jambusaria – 18th Feb 2012
Mr.Shivang Jambusaria, Head of Derivatives Division, HDFC conducted session on “Hedging Strategies/Emerging Trading Strategies” on 18th Feb 2012. Mr.Shivang discussed in detail about the need for hedging and the various institutions which hedge their risk. Currency fluctuations and their implications to various industries and forward curve are widely discussed. Session is highly practical with real time examples and discussion on movement of Indian currency in the last one year. A video on the trading desk at BNP Paribas grabbed the attention of students. Apart from these, Mr.Shivang talked about the requirements that students should possess to succeed in the field of derivatives trading.
Manthan – Finance Summit Manthan – 2012, The first edition of the finance summit of IIM Kashipur was held on Saturday, 11 February 2012. The event witnessed mix of eminent industry personalities from the field of finance, academia and students on a platform to put forward their view on ‘Global financial crisis and impact on Indian businesses’. Mr. Anand Sinha, Dy Governor, RBI delivered the keynote address. Dr. Devi Singh, mentoring director IIM Kashipur and Director IIM Lucknow and Mr. Saurabh Bhat, president and managing director, corporate finance, Yes Bank addressed the gathering. Veteran professionally from various banks such as Union Bank, State Bank, Yes Bank and IDBI Bank to name a few constituted the audience. Opening the event, Dr. Devi Singh was enthusiastic about the event and appreciated the student’s keen thirst for knowledge and efforts towards organizing the event. Dr. Devi Singh opined upon the debt driven open ended growth strategy of the U.S. as having its own perils and one of the key causes of the financial crisis. He also mentioned that unless growth picks up, debt bonds are restructured and fiscal tightening is exercised, giving financial props will not go a long way towards mitigating the impacts of the financial crisis. For the students of the Institute looking forward to a career in finance, Dr. Singh underlined the significance of understanding the core economics behind the increasingly complex financial world. Mr. Saurabh Bhat, in his address spoke richly on the impact of the global crisis on India’s Banking and SME sectors. Mr. Bhat mentioned the three channels of influence of the global crisis being the trade channel, the finance channel and the confidence channel. The impact of rupee volatility on SME’s was also iterated, which is specially magnified in the absence of liquidity and capital availability Mr. Anand Sinha in his keynote address spoke extensively on the buildup of the global crisis and its causes. Speaking directly to the students of finance, Mr. Sinha mentioned the frailty of financial models and how they cannot incorporate the irrationality of human behavior. Mr. Sinha also provided a detailed and granular breakup of the financial crisis, its causes and impacts on India which proved to be a great value add for the students and guests from industry alike. The keynote address was followed by corporate dinner with an electrifying level of interaction amongst the guests. Many students of the institute with entrepreneurial ambitions found priceless advice and words of wisdom from their interactions with the guests over dinner. Many guests expressed their delight while attending the event, the first of its kind in the region, and affirmed their positive response and participation in such events organized by the institute going forward.
Prof. Kallol Bagchi – 2nd Feb 2012
Dr. Kallol Bagchi, Professor of Information and Decision sciences at College of Business, University of Texas at El Paso. He has many research publications in the computer science and information systems area. His present research interest is in global ICT (Information and Communication Technologies), diffusion of ICT, impacts of trust and culture on ICT, security issues, digital divide. Prof. Bagchi interacted with the students over various socio cultural aspects related to usage and adaptation of information technology for sharing and dissemination of knowledge. Furthermore, a model of willingness to use ICTs based on personality attributes was shared with the students. Inputs for the model are gathered via a survey form, which was also shared with the students. The students provided their inputs in the form, and a quantitative analysis was conducted in the session using SPSS
software are the results were analyzed as well.
Samanvaya 2011 – first edition of the HR Summit of IIMKashipur, was held on December 15th 2011. The event witnessed a congregation of eminent industry personalities in the field of HR, academia and students onto a platform to put forward and discuss their views on ‘Aligning Employee goals with corporate vision’. The discussion revolved around on how to ensure employee engagement and motivate employees to align their respective roles with the mission, vision & goal of the organization. Mr. Aquil Busrai, CEO-Aquil Busrai Consulting and Former HR Director of IBM, delivered the keynote address. Dr Devi Singh, Mentor Director-IIM Kashipur and Director-IIM Lucknow, Prof. Roshan Raina, Dean-IIM Lucknow and Prof Manoj Anand, Convener-IIM Kashipur taskforce, addressed the gathering. Veteran HR professionals from Dabur, Tata Motors, HP, Videocon, IDBI, APC, Titan, IGL, to name a few, constituted the audience. Mr. Aquil Busrai, in his keynote address, shared his views that Attraction, Retention and Training (ART) as the key ways to improve employee engagement and align their goals with the corporate vision. Mr. Busrai put forth the idea of ‘Take My 40 Hours’ as an initiative by the industry persona to spend 40 hours in an year, an equivalent of 5 working days, on a business school campus to give the required inputs to nurture the future leaders. Talking of retention, he shared an instance where 30% of employees leaving a company gave the reason of poor growth prospects, while a same fraction of people staying with company said it’s for higher growth prospects. The keynote address was followed by corporate luncheon, buzzing with an electrifying level of interaction amongst the guests. Thereafter, in the panel discussion that ensued had Mr. R S Yadav, VP-HR, IGL and Mr. Atul Asawa, VP, Flexituff as the panelist’s who shared their insights and experiences on employee engagement. Many guests expressed their delight while attending the event, first of its kind in the region, and affirmed that this first step will go a long way in benefitting the industries, especially of Uttarakhand and UP.
Pepsico – Plant Visit – 18thNovember 2011
On 18thNov. 2011, the first batch of IIM Kashipur visited the bottling plant of PepsiCo in Bazpur, Uttarakhand. It was the first official plant visit as part of industry interaction of the students. Students were accompanied by Mr. Dinesh Saxena and Mr. Daljeet from the administration. On arrival at PepsiCo bottling plant, students were received by Mr. Maya Prakash from the HR department. After a small introduction session, the students proceeded towards the manufacturing unit where the students were introduced to the quality officer and his associates. As a safety requirement, everyone was required to wear leather shoes and the students complied with this requirement without fail. Anyone entering the manufacturing area is required to cover his heads and shoes and the required kit was provided to us. After all the essential safety and quality control requirements were fulfilled, we entered the production floor and were taken to the various sections of manufacturing viz., Water treatment, Syrup mixing, Bottle molding and Filler Units. After the production floor, students were taken to the warehouse. We got the opportunity to meet the store manager, who was recently awarded by Ms. Indra Nooyi for his warehouse management techniques. He briefed us on different warehouse management intricacies and students got their doubts clarified on supply chain issues. Later students had a 45 minute interaction with Plant’s HR manager, Amitabh Adhikary and Manufacturing manager in a conference hall. HR manager briefed about the plant’s organizational structure, various incentives being provided to the employees and the culture of the organization. Manufacturing manager briefed us about the different KPIs, seasonal challenges, price fluctuations of key ingredients and other minor issues. This was followed by a healthy Question-Answer session. Members from Placement Committee and Industry Interaction committee had a short meeting with the HR manager. They expressed their eagerness to have a long term relationship with PepsiCo and received a positive response. Overall the visit was successful in terms of the insights the students received about supply chain management and the overall manufacturing process. It also opened doors for further interaction and industrial assignments.