Friday, November 30, 2012

Out of the frying pan into...

Zimbabwe has failed to come out of chaos, thanks to its leaders

The deal, brokered by then South African President Thabo Mbeki, in Zimbabwe has failed miserably. According to the deal, none of the parties had the power to hire and fire the cabinet members. Secondly, the control of the armed forces was with Mugabe, while Tsvangirai was supposed to have the authority over the police and secret services. The sad part is this was not unexpected.

Longing for power has created further tensions and any sort of solution is far away. The failure of a meeting in Swaziland, arranged by the Southern African Development Community (SADC) as Tsvangirai's could not make it to the meeting due to lack of a passport, is a testimony to that. And all this political melodrama is outrightly affecting both the country and its people. The inflation, which according to Cato Institute has crossed 531 billion percent as on September 30, has made 80% population extremely poor and unemployed.


Source : IIPM Editorial, 2012.

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Wednesday, November 28, 2012

WAR DOCTRINE: POST COLD WAR AND ADVENT OF LOW INTENSITY CONFLICT

Low Intensity Conflict and the shift from mass destruction to precision-strikes are changing paradigms

 The last decade of the twentieth century had a lasting impact on how the war doctrines would undergo a structural shift. First, the disintegration of the Soviet Union vindicated the fact that the secured existence of a nation cannot be guaranteed by the mere presence of a huge arsenal of weapon systems unless the economy is strong enough. Strangely enough, for forty long years, the US planned the demise of the USSR, but when that happened in reality, not a single bullet was fired. USSR was crippled by its own weight and for diverting critical economic resources for war preparedness, which took the economy into coma. It was from that time onwards that countries started keeping an eye on what proportion of their GDP goes into defence spending and that it doesn’t cross certain limits. On the other hand, countries like China, in their quest to increase the defence expenditure to fuel their global expansions, kept aside all their inhibitions with respect to economic globalisation and made sure that they became the key hub for global industrial production. They realised that it was only through this they can pile up their forex reserves and GDP for fuelling their defence spending. More GDP would mean more earnings from taxes, which then could be diverted for defence spending. Today, if USA is a superpower and if India and China are increasingly becoming forces to reckon with, it’s not just because of their growing military might but because of their increasing ability to compliment it with economic clout.

The two Gulf Wars and NATO crusades over Serbia with respect to the Kosovo issue reminded the world that the German concept of Blitzkrieg and US concept of ‘Shock and Awe’ have not lost their prominence till date. It also vindicated that war from now on would be decided on quality and not on quantity. The Iraqi Army was quantitatively far superior to the western force but was no match to the sophistication of US’s arsenal. So when the Tomahawk missiles were launched in hundreds from the US warships stationed in Persian Gulf and Red Sea followed by aerial bombings by the B-52, the B-1 and B-2 bombers, Iraqi forces were pulverised and almost defeated with their fleets of tanks and missiles of Russian vintage being of no match. The remaining work was finished by the ground invasion along with close air support from the Apache Attach Helicopters and A-10 Thunderbolt gunships. Even in the case of Kosovo war, US literally decimated Serbia with aerial bombing for 75 days. And that was good enough to make Serbia President Milosevic surrender. Truly so, blitzkrieg and ‘Shock and Awe’ was alive and thriving.


Source : IIPM Editorial, 2012.

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Tuesday, November 27, 2012

IRAQ: CNPC OIL DEAL

China's oil deal with Iraq is opening doors for a future where it can sign deals on its own terms

Iraq is the third largest producer of oil in the world and is trying to increase crude oil output from the current 2.5 million barrels a day to 3 million barrels a day by the end of 2008, and 4.5 million barrels a day by the end of 2013. To achieve its objective, Iraq needs investment both on the financial as well as on the technical front. China's deal provides it both. It now provides confidence to Hussain al-Shahristani, Oil Minister, Iraq, to say that time is running out for major oil firms that have been jostling to get Iraqi oil contacts. It is a direct invitation to major oil firms for fresh negotiations. And the Chinese deal is an indication that Iraq has toughened its terms. Thus the deal has set a precedent for new terms and conditions for future negotiations with other international oil majors like BP, Exxon Mobil, Shell and Total.

Saddam Hussein’s regime had signed contracts with five major foreign oil companies before the American invasion in 2003, but were never operationalised due to UN sanctions. Now, the new regime considers to revive those contracts but on new terms. Thamir al-Ghadban, former Iraqi Oil Minister, said, “After long debate, we decided that those oil contracts should be reconsidered, not to be accepted just like that, because things have changed, the price of oil has changed, the regime is new.” The new deal is giving Iraq hope for a brighter future, where it may not have to overtly depend on Uncle Sam''s ''largesse''...


Source : IIPM Editorial, 2012.

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Monday, November 26, 2012

The second hand car market is on a roll

With rising disposable incomes & soaring aspirations, the second hand car market is on a roll

One thing that surely brings both the organised and unorganised players onto a common platform are the kind of bottlenecks and hurdles that the Indian used car industry is facing. Soaring oil prices, hardening interest rates, imminent entry of Nano et al, are making the ride bumpy and uncomfortable. Discounting the competition on this front, Ravi Bhatia, Chief GM, Sales & Support, Maruti Suzuki True Value asserts, “Nano will only make the market more lucrative. Also, the price of it is yet to be finalised, so the end picture can be totally different.” What’s more? The consumers in this segment have smartly shifted to CNG vehicles to balance the oil price rise crisis. “The recent hike in CRR by 25bp and Repo Rates by 50bp is expected to push the interest rates higher might impact demand of this auto segment,” explains Vaishali Jajoo, Automobile and Transportation Analyst, Angel Broking. However, on the flip side, since the second hand car has a higher interest rate than a first hand car, this might deter consumers.

Nonetheless, the industry is eying an unprecedented growth to support the shift from two-wheelers to four-wheelers or to a higher model. “Second hand car market is growing at 19% and the new car market is growing at 12%. With this outlook, used car market would overtake the new car market by 2012,” explains Bhatia of Maruti True Value. Be that as it may, the fast growing used car market has grabbed the eyeballs of at least three global players who are planning to park their moolah and set shop here. Japan’s Gulliver International, Britain-based Manheim & a Dubai-based operator are expected to set up local operations on the Indian shores. Rising interest rate and oil prices, notwithstanding, increasing income levels & soaring aspirations is sure to fuel the used car market to hitherto never before seen heights.


Source : IIPM Editorial, 2012.

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Friday, November 23, 2012

Who needs Veronica Lodge ?

The debate (!) has gone on ad nauseum. For the sake of the aye-sayers and naysayers, B&E gives a final spin

There was more bad news for the exchequer this June besides skyrocketing inflation, which almost touched the 12% mark (11.63%). At first, it was the Farmer Loan Waiver Scheme, which became operative on June 30, putting a burden of Rs. 716.80 billion on the exchequer. Then came a recommendation by the government to form a committee of bureaucrats, which would look after the recommendation of increasing the salary of government employees by as much as 40%. The total burden of the two acts would put an additional burden of Rs. 1,147.8 billion on the exchequer. And it’s all because of the fact that the government can now see an election round the corner and hence is busy squandering money in an attempt to improve its brand image.

Well, it’s nothing new (in fact, even saying this fact sounds quite stupid), as when elections come closer, governments start spending their ‘populist belly button’ more. The fate of the loan waiver scheme implemented by Devi Lal in 1990 rewrote bankruptcy models. The negative impact of the scheme was so strong that the country is still trying to recover from the fiscal gap formed by it. Dharmakriti Joshi, Principal Economist, CRISIL, added to what we already knew, “The [current] loan waiver would not only increase the inflation, it would also put a huge fiscal stress on the country.” Moral hazard and increase in default rate will be the consequences, news of some of which has already started to come up. Many experts also confirm that the clauses in the scheme actually stop many small and marginal farmers from taking benefits, which itself kills the main objective of the scheme. Besides this, infrastructural bottlenecks and no clarity on the clauses in the scheme give ample opportunities for corruption to crop up in the process. NREGA is a living example.


Source : IIPM Editorial, 2012.

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Thursday, November 22, 2012

Get a life!

Are you one of the proponents of living life king-size? Unless you’ve never been belted by John Lennon with his Instant Karma (…You better get yourself together/Pretty soon you’re gonna be dead/What in the world you thinking of…), you might still think high life is about fast cars and designer labels. But as per new trends, lifestyle is less about how much and what all you pay for; instead it’s more about the paybacks you expect to raise. On the occasion of our 3rd anniversary, we put together for our readers a collection of inspirational lifestyle trends. Understand the benefits of philanthropic travel; be a man and share with your lady the pains of going under the knife; relax and revive your senses the natural way; go green and much more.


Source : IIPM Editorial, 2012.

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Wednesday, November 21, 2012

Give change a chance

After loss of key leaders FARC is skeptical about peace agreement

It is a double whammy for the Revolutionary Armed Forces of Colombia (FARC). Within months, it has lost its leaders, Manuel “sureshot” Marulanda and Raul Reyes, a secretariat member and international spokesperson of FARC. Though these deaths are not a devastating blow to the FARC as construed by many, it surely is a setback to a peace agreement which FARC was looking forward to for quiet some time. Many political observers, including leftists, hope that the new leader Alfonso Cano, can go for fresh negotiation and settle for peace. But, the question is whether the Colombian President Alvaro Uribe would allow it. He and the ruling class of Colombia and its paramilitary have vested interests in perpetuating the conflict.


Source : IIPM Editorial, 2012.

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Tuesday, November 20, 2012

MALAYSIA: MOHATHIR MOHAMMED

While the former Malaysian Prime Minister has been out of power, he has support of the cadres

Some of Mahathir''s allegations of economic mismanagement have resonated with the Malaysian public as inflation rises. Besides, Badawi''s public campaign against corruption has not shown any dramatic successes. His promise to fight corruption has shown few results. Although he has been out of power for six years, Mahathir is believed to control as much as half the party at the division levels. Speculation is rife that he would form a new ethnic political party. Taking members of Parliament out of UMNO, the lead party in the ruling national coalition, would cut its 140-82 seat majority by an as-yet undetermined number. This could well spell the end of the coalition, which has ruled Malaysia for five decades.

Much of the antipathy within UMNO is directed against Prime Minister Badawi’s son-in-law, Kairy Jamiluddin, who it is believed has too much influence over Badawi. Kairy is seen as a de facto power, interfering in the day-to-day running of the country''s administration. Others say he is obsessed with placing too many of his own people in positions of power. Political stability is important for Malaysia because it remains one of few Muslim majority countries where al-Qaeda has been unable to spread its ideology of hatred. However, analysts now worry that prolonged political instability and citizen anger against the Badawi regime could just open the door for Islamic fundamentalists to spread wings.  


Source : IIPM Editorial, 2012.

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Monday, November 19, 2012

These eleven remind you of 300

The BCG report elaborates how MNCs struggle in RDEs like India, win-win partnerships are the best option

W e admired their supreme fighting skills as depicted in the Hollywood flick 300, as they resisted a much larger Persian army that came in scores. Fact is that Spartans were indeed phenomenal warriors. It is said that the world learned a lot from their fighting techniques. Cut to the 21st century corporate world, the Boston Consulting Group (BCG) seems to have identified some such Spartans in the RDEs (Rapidly Developing Economies) of the world! In its latest report titled ‘The BCG 50 Local Dynamos’, BCG has highlighted 50 such companies from ten key RDE countries like China, India, Brazil et al, which have successfully resisted competition, both from MNCs as well as state owned companies in their respective domestic markets. Eleven companies from India have been identified as among the 50 dynamos like Bharti Airtel, Titan (from Tata), ITC Limited, ICICI Bank et al as leading the pack, ranking it second in the list. China ranks number 1 with 15 companies in the list.

“Proper supply chain management, local understanding and above all, market penetration are factors, which help these domestic companies to stay far ahead of their foreign counterparts,” explains Sushil Dungarwal, Senior Analyst, FICCI. Agrees Harit Shah, Analyst, Angel Broking, who feels that, thanks to the local expertise, once the companies have “proper execution skills in place, the job is already half done.” The report cites, for instance how ICICI Bank is having a great run, with around $5.2 billion in interest income in comparison to around $1.07 billion of HSBC. Two companies from the Tata group are in the list – Indian Hotels and Titan Industries. Bharti Airtel has been included for making Hutch (now Vodafone) run for their money with its ever increasing subscription base, which currently stands at 62 million. BCG agrees that many more companies fit the bill, but their selected 50 are ones with a unique business model and excellent performance in highly challenging environments.

Actually, one can well make an argument regarding whether these local dynamos are achieving success due to their own strengths or due to the shortcomings of MNCs. In essence, the report only seeks to highlight how MNCs find it typically difficult to compete in new markets and the perils they face if they make an oversimplified analysis of these markets. “Understanding the local buying behaviour and pattern with vast differentiation on region to region basis is a tough nut to crack for these MNCs,” comments Shah.


Source : IIPM Editorial, 2012.

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Thursday, November 15, 2012

A distant shore... royal davui island resort Fiji

“Man has always been audacious enough to think beyond the usual. He has always envisioned being a king in a kingdom of his own. In Fiji one does feel like a king as the Fijians would pamper you like no one on the planet would, all the islands are separated from one another giving you absolute privacy. Fiji is a dream place for many, having beautiful aquamarine beaches and sand as white as snow. This place is heaven, even for those who just wish to lay back and do nothing on their vacation! This island nation in the South Pacific Ocean occupies an archipelago of about 322 islands of which 106 are permanently inhabited and there are 522 smaller islets. In fact, the name Fiji is a Tongan version of Viti, the original pronunciation for the island, spread over 426,000 square miles.

The two most important islands are Viti Levu and Vanua Levu – mountainous with peaks up to 1,300 meters – covered with tropical forests. Viti Levu hosts the capital city of Suva, and is home to nearly three-quarters of the population. Geologists believe that Viti Levu has been submerged a number of times, and has been covered by lava and other volcanic material due to earthquakes and volcanic eruptions. No wonder then, the terrain of this island is rugged and is roughly divided into equal halves by a north-south mountain range. However, that should not be a cause of worry since these volcanoes now stand dormant.

Fiji has a diverse culture comprising Indian, Chinese, and European traditions. This multicultural society has not been neutralised even by mass tourism. The official language of Fiji remains English; however Fijian and Hindustani are the most spoken tongues thereafter. Due to the diversity in culture that can be seen in Fiji, visitors are encouraged to dress modestly on tours to villages and when attending cultural events, though when in resorts they can dress casually.

Fiji is not for the laidback clan alone, even the sporty ones can try a hand or more, at diving, sailing or even snorkeling. The privacy, the beautiful white sand beaches, and the spectacular views offered in Fiji makes it a fantasy for the newly-weds as it surely accounts for a picture perfect honeymoon.


Source : IIPM Editorial, 2012.

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Saturday, November 10, 2012

Full marks for this Marxist

Under Sarkar's able chief ministership Tripura has seen its first dose of foreign funding
 
Communists have a way of working around their communism occasionally to get capitalist cash into their state: and when they succeed, they become chief ministers, and stay there. For Manik Sarkar, that has meant a third term in a far-flung state where even central funding was a problem; under Sarkar the state has now seen its first funding from abroad.

Just now, as the man gets comfortable in the chief minister’s chair, one that has been his for more than 10 years now, his list of achievements is something to write home about: a steady decline in insurgency, increase in private investment, remarkable improvement in the higher education sector, successful implementation of public-private partnership model... the list, as his supporters like to point out, is long. Given the politician’s prized cake of continuity, Sarkar’s government is viewing natural gas, bamboo and natural rubber as the three main opportunity sectors in the state. To Sarkar, though, it is his government’s success on the insurgency front that is the most important of all. "With the two-and-a-half-decade-old militancy showing signs of abating, countries such as China, Japan, Germany, Thailand & Bangladesh, not to mention Indian investors, have shown interest in Tripura," he told B&E. Sarkar has also been advocating the linking of the East-West corridor through Tripura. “Tripura has 44 km long border with Assam in the plains area, and a 865 km border with Bangladesh. The state can really become the gateway for the North-east to South- east Asia.”


Source : IIPM Editorial, 2012.

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Friday, November 9, 2012

The ironies of Growth

For years, ever since the UPA came to power - and even before that when NDA ruled - PMs and FMs have espoused that India’s is the next growth story.

They have hinted that India, not China, will be the next economic superpower. Everyone thought they were right - stockmarkets boomed, forex reserves shot up, growth threatened to cross the double-digit mark, and India became the global services czar. But now, slowly but steadily, red signals are flashing on many economic fronts. Economists talk about a slowdown. Stockmarkets are volatile, and no one knows whether stock prices will move northwards, or downwards. And inflation remains a key concern. All this is happening when the UPA coalition is getting ready for the general elections in 2009. B&E analyses the future of the exuberant India growth story. By A. SANDEEP, ASIF AHMED, VIRAT BAHRI, MANISH K. PANDEY AND GYANENDRA KASHYAP

A manufacturing slowdown?

The name ‘Gorilla’ comes from the Greek word Gorillai, which means a ‘tribe of hairy women’. Gorillas are seriously interesting creatures. Tamed, they can fight a pride of lions for you, er, as long as you have a two-metre, 250-watts electric shock-rod ready at your hand. Well, that’s exactly the India growth story right now. Undoubtedly, India’s growth saga is thundering upwards like nobody’s business; and, till now, almost all the indicators prove that. Strangely, some of the very factors that have led to this flamboyant growth in the recent past are now playing truant by restricting us from experiencing what could have been a dramatic transformative economic upswing, much more than the growth rates that we so proudly flaunt globally! And the blame lies completely with the policy makers, who have clearly erred in not utilising most required control measures in a timely fashion.


Source : IIPM Editorial, 2012.

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Thursday, November 8, 2012

OUTSOURCING: EUROPE

Europe lags the United States in reaping from the booming outsourcing business

But that is little exaggeration. Over-emphasise on these, has actually hid its inexcusable failures like labour inflexibility, lack of cultural openness, over-cautiousness on national identity. Leading countries like Germany, France have very rigid and conservative laws regarding employment and layoffs. There is a need to realise and learn from the US for its open, diverse culture, a land for all. Many Asian companies are not comfortable initiating businesses in those countries. However, the UK, is exception.

The matter of the fact is the EU has not imposed any protectionist laws but as the maxim says, “delay in restructure is delay in regeneration,” slow pace of restructuring and policy adoption incurs huge cost to these economies. A research by McKinsey Global Institute revealed that each dollar of corporate spending that US companies outsource to India or China, it generates as much as $1.14 whereas with the present stiffness in laws, slow pace of adopting policies and keeping the labour re-employment rate as low as 40% Germany brings back merely €0.80 for every euro of corporate spending but if it can match with the US and raise re-employment rate as high as 70%, Germany can actually end up creating €1.05 in every euro corporate spending for German economy.

To put things in perspective, it is EU’s failure not to cope up with the changing phase. Its success is in re-orienting its laws, business practices, thinking et al to live in globalisation and extracting maximum profits from it. If the EU, as a country streamlines rules and policies with the changing business climate, it might get a chance to reap rich harvests from ‘global village’ before it gets too late. 


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
 
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links  
IIPM : The B-School with a Human Face
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Wednesday, November 7, 2012

She’s back in the race

The Hillary-Obama contest is a fascinating show piece of American elections

Former US President Bill Clinton called Barack Obama a “kid” ahead of the Nevada Caucus. His wife & Democratic contender for presidential nomination, Hillary Clinton, said that electing Obama would tantamount to electing “another Bush” to the White House. On the eve of the Caucus, the Hillary camp complained that their supporters in the state’s unions were threatened by the union leaders, who backed Obama. The Obama backers hit back saying they received many telephone calls, which made continuous references to “Barack Hussein Obama.” Nevada saw it all. Still, Obama, the charismatic Illinois Senator who changed the entire arithmetic of Democratic contest, could not defeat the former first lady in Nevada.

What went wrong for Obama? He failed to keep up the hype, set by his own media managers, as the campaign spread to other parts of the country. His vulnerability to attract different demographic votes was visible in New Hampshire & Nevada. Although the Obama camp, having understood this fact, attacked the Clintons, saying they haven’t done much for the Hispanic community, it failed to pay. The Hispanic groups, the growing number of Democratic supporters, voted for Clinton in large numbers. She could also walk away with women votes as Obama managed to retain support of the blacks. Obama’s stunning Iowa victory has started to fade away with his straight losses in New Hampshire & Nevada.


Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
 
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links  
IIPM : The B-School with a Human Face


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Tuesday, November 6, 2012

Buddha smiled, but not his critics

SANJAY BASAK finds out how the West Bengal CM faltered, and almost tripped, while running on the reforms’ road. And now, he has decided to take the bull by the horn

Only a few months back, West Bengal was burning. From Nandigram to Ketugram, hundreds of houses were razed to the ground. While some of the people fell to police bullets, others were burnt alive or hacked to death by the red ‘Marxist’ brigade. The most progressive face in India’s Marxist history, CM Buddhadeb Bhattacharjee, who was compared to the Chinese Premier, Deng Xiaoping, for his reforms, reverted back to a seemingly-dictatorial image of USSR’s Joseph Stalin.

Thanks to such tensions, governance, which was the key mantra until recently, has come to a standstill in West Bengal. Yet, when Buddhadeb took charge, he moved swiftly to change the skyline of Bengal, plagued by strikes and lack of development. His closest ally, Bengal’s industry minister, Nirupom Sen, had then told this correspondent, “The time has come to move forward.” And Bengal did start running.

But the journey to push Bengal up the industrialisation ladder wasn’t easy. The CM initially faced opposition from within his cadre. The most powerful trade union, CPI(M) affiliated CITU, rose against reforms. And the all-powerful party politburo frowned upon them. The electoral and ideological allies of the CPI(M), CPI, Forward Bloc and RSP were jolted by the speed at which the new CM rushed to make Bengal a ‘Shilpabandhu’ (industry friendly) state.

For example, Buddhadeb wanted to eliminate trade unionism in the IT sector. He indicated that if the IT employees wanted “to resort to strikes, they have to abide by the rules of the Essential Services Act.” The move rang alarm bells. The first one to raise his voice against it was the sports minister, Subhash Chakraborty, an arch rival of the CM, and he threatened to form unions. CITU remained firm too. Despite the former CM Jyoti Basu’s backing, nothing has been formalised till date.

Read more.......

Source : IIPM Editorial, 2012.

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Monday, November 5, 2012

The new age iWeapon

Information as pinnacle of excellence

“There are but two powers in the world, the sword and the mind. In the long run the sword is always beaten by the mind.” These words by Napoleon Bonaparte aptly describe the power of intelligence. History has often been testimony to vindicate this. Way back in 1991, during the Gulf War, Dutch hackers stole information from the US Defense Department computers about the US troop movements and later try to strike a deal with Iraq, who on the contrary, turned it down stating it to be a hoax. Similar attempts of information theft again happened in January 1999 (at the US Air Intelligence computers) then in May 2007 (Estonian public services’ homepages) and then in June 2007 (hacking of Pentagon’s computer). All these attempt of retrieving information clearly depicts that information is considered to be the most powerful weapon in any kind of warfare. Information gives the owner a competitive advantage against its enemy in almost any form of competition, be it at corporate level or at global level or at geo-political sphere. Since middle of 20th century, there have been unexpected developments in the technology dealing with information that eventually led to significant improvements in the domain. For the big business, especially the multi-national conglomerates, this technology was not less than the ‘gold-rush’. Almost all information was to be digitalised and thus a huge virtual cyberspace came into existence.


Source : IIPM Editorial, 2012.

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IIPM : The B-School with a Human Face
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