oct 2017 to march 2018 18 5 18gmaindia.org/pdf/oct 2017 to march 2018.pdf · various initiatives...

DishaDishaDishaDishaMonthly Newsletter of Ghaziabad Management Association

(October 2017 to March - 2018 )

Volume 17

Ghaziabad Management Association Aiming to inspire individuals to actualize their potential, Ghaziabad Management Association, an autonomous management association was set up in 1982 as a Registered Society under the aegis of late Shri Sitaram Jaipuria. GMA has striven for management expertise that can synergise Indian ethos with international management thought and practices since its inception. During the short span of its existence, GMA has a strong hold in the industrial city of Ghaziabad and has become an important forum forthe business executives and other members to share their experiences and ideas to further the cause of management. It is striving to outline the present and future problems

HIGHLIGHTS

To ___________________________________

___________________________________

From : Ghaziabad Management Association 408, Ansal's Satyam Building, RDC, Raj Nagar, Ghaziabad Ph: 0120-2826867 Website: www.gmaindia.org

To facilitate individu-als and organizations realize their potential

VISION

Note-Opt forE-NewsletterSave paper

GO GREEN

MISSION

To enable Ghaziabad organizations to de-velop global competi-tiveness

INSIDE THIS ISSUE:

About GMA

Articles

Entertainment

1 - 6

7 - 14

15 - 16

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concerning management, while looking for perfect harmony in human relationships, which can take many forms, such as corporate, employers, employees, customers,members of the society we live in and facilitate individuals and organizations to include best management programs. It wouldn't have been possible without the strenuous efforts of late Dr. C.B.Gupta, Ex Director of Institute of Management Technology & Founder President of GMA. The activities of GMA got a further fillip after securing the permanent affiliation to the Apex national body, All India Management Association, New Delhi, and registered under Societies Act

Chanakya 2017-18

COMPETITION ON BEST PRACTICES IN E N G I N E E R I N G C O L L E G E S A N D MANAGEMENT INSTITUTES

Ghaziabad Management Association organized its 28th National Convention at Radisson Blu on

thJanuary 20 2018

The theme of the convention was:

Ghaziabad Management Association organized a two day workshop in form of Management Simulation

th thBusiness Game called “CHANAKYA” on 12 & 13 March 2018 at AKGIM campus. This game was conducted by All India Management Association (AIMA).

Keeping in line with its vision & mission of enabling the individuals and organizations realize their potential towards developing global competitiveness, Ghaziabad Management Association is conducting a competition among Institutes located in Ghaziabad to present their Innovative and Best practices in IMPROVING THE EMPLOYABILITY OF THEIR STUDENTS:

“LEADERSHIP IN AGE OF TRANSFORMATION - AN OPPORTUNITY FOR DEVELOPMENT”

Event began with lightning of lamp and Saraswati Vandana . The event was glorified by the presence of delegates from different area of expertise. The welcome address and brief on the theme was delivered by Mr. Amit

2Disha Newsletter (October 2017 to March - 2018 )

Agarwal, President- GMA & Deputy Managing Director- Ghaziabad Precision Product Ltd. Mr. Agarwal briefed about GMA and it's achievement during last seven years and also talked about various initiatives taken by Ghaziabad Management Association in organizing various activities.

Ghaziabad Management Association along with Department of

Business Administration – ABES Engineering College, Ghaziabad organized a Workshop on Goods & Service Tax (GST ) on Saturday, 23rd December 2017 at ABES Engineering College, Ghaziabad.

Ghaziabad Management Association organized Annual Family Get-together cum Picnic on 17th December 2017 at Partapgarh Farm & Resorts at Jhajjar, Haryana. Around 26 families (80 – Adults & Children) participated in this event. When we reached at the venue they welcomed all the members with tilak & showering flowers petals.

Ghaziabad Management Association in association with INMANTEC and Rotary Club, Sahibabad, organised a Blood Donation Camp on 17th November 2017. In this camp around 120 donors donated blood from persons that included the students faculty and staff. Blood donation is the highest type of humanitarian service one can give, because it saves life and you need not be a doctor to save life, just donate blood.

Workshop on Goods & Service Tax

Annual Family Get Together Function of GMA

Blood Donation Camp

Competition On Best HR Practices

Blood Donation Camp at RKGIT

In order to work towards attaining its vision and mission of Enabling

Ghaziabad Organizations to become globally competitive and to Facilitate Organizations and Individuals realize their potential, Ghaziabad Management Association organized a competition on Best Practices in HR for Industries in Ghaziabad at Hotel Apple Tree on Saturday, 11th November 2017.

Department of Management Studies, RKGIT in association with Ghaziabad Management Association (GMA) and Rotary Club, Ghaziabad South End organised a blood donation Camp on 6th October 2017 in lieu of 1st October 2017 observed as National Voluntary Blood Donation Day every year. The camp was inaugurated by Prof. Laxman Prasad- Director R&D RKG Group of Institutions along with Shri Pankaj Goel- Chairman Blood Donation, Ghaziabad South End , Shri Vinay Gupta – Executive Director GMA, Dr. Arvind Singh- Dean Academics RKGIT, -


CHANAKYA 2017-18Ghaziabad Management Association organized a two day workshop in form of Management Simulation Business Game called “CHANAKYA” on 12th & 13th March 2018 at AKGIM campus. This game was conducted by All India Management Association (AIMA).

Shri Vinay Gupta, ED, GMA welcomed the guests and the participants and explained the importance of organizing such an event. The game was steered by Mr D K Gupta & Shri Vijay Singh and from the Games division of AIMA.

Business Game ‘Chanakya’ is a simulation game where teams of four persons each are made to represent the decision makers of a company. They are required to take the most profitable decision for their company under the dynamic circumstances and vagaries created to simulate the actual business scenarios that can prevail. In this event, participation was in form of 9 teams from management cadre of Industries and faculty from Management Institutes.

The teams were from the following organizations:

Ajay Kumar Garg Institute of Management.Bharat Electronics Ltd. – Two teams

Continental Carbon India Ltd.Ghaziabad Precision Products P. Ltd.Godfrey Phillips India Ltd.International Tobacco Co. Ltd.NTPC Ltd. Dadri PlantShriram Pistons & Rings Ltd.

The team from NTPC was declared winner and the team from International Tobacco Co. Ltd. was the runners up. Sh. M. K. Rathi, Treasurer, GMA & VP Works cum Factory Manager, Albert David India Ltd. as Chief Guest was present and gave away the winner and runner up Team trophies to the participants where, Dr. Tripurari Pandey, Director AKGIM and Shri Vinay Gupta Executive Director, GMA were also present on the occasion. Individual prizes for winner and runners up will be given away during the valedictory function of the Annual Convention, later this year.

This event was widely appreciated and enjoyed by all the participants. They assured that on commercial front and as a team, their vision has broadened and they have learnt a great deal in the game.

NTPC, Dadri – Chanakya Winner Team receiving the Trophy ITCL – Chanakya Runner-up Team receiving the Trophy

Keeping in line with its vision & mission of enabling the individuals and organizations realize their potential towards developing global competitiveness, Ghaziabad Management Association is conducting a competition among Institutes located in Ghaziabad to present their Innovative and Best practices in Improving the Employability of Their Students:

The event was held on Saturday, 24th February 2018 and seven Institutes took part in the competition.

Ajay Kumar Garg Engineering College, KIET institute, and RKGIT competed in the Technical (engineering) domain; and

ABES Engineering College, INMANTEC and ITS, Mohan Nagar competed in the Management domain.

COMPETITION ON BEST PRACTICES IN ENGINEERING COLLEGES AND MANAGEMENT INSTITUTESIMT (Institute of Management Technology) shared its best practices but did not wish to be a competitor with other institutes.

The Awards were given to the top three institutes as evaluated for the best/ Innovative practices, in each of the domain by the jury.

The Jury comprised Dr. Raj Agarwal, Director CME, AIMA, Mr. Pankaj Kumar, General Manager (HR), NTPC; and CA Anil Agarwal, Jt. Secretary, GMA

There were almost 100 persons in the audience comprising people from the Industry, professionals and from Institutes.

The event was very well appreciated and people felt there was a lot to be learnt from one another. There was a demand for more such events.


GHAZIABAD MANAGEMENT ASSOCIATION ORGANIZED ITS 28TH NATIONAL CONVENTION AT RADISSON BLU ON JANUARY 20TH 2018.

Event began with lightning of lamp and Saraswati Vandana . The event was glorified by the presence of delegates from different area of expertise. The welcome address and brief on the theme was delivered by Mr. Amit Agarwal , President- GMA & Deputy Managing Director- Ghaziabad Precision Product Ltd. Mr. Agarwal briefed about GMA and it's achievement during last seven years and also talked about various initiatives taken by Ghaziabad Management Association in organizing various activities.

The keynote speaker, Dr. T. S. PARMAR, CEO, Albert David Ltd. discussed about the core changes in transformation, evolution and disruption Innovative with interesting examples. Mr. PARMAR also gave his self made definition of change. Further he added in the fast changing environment SURVIVAL is OF THE FITTEST, FASTEST AND BEST. At the end he concluded by adding some piquancy to the environment by sharing some motivation sharyi.

“Manzil to doston mil he jayegi, thodi der se hi sahi , haare to wo hai jo ghar se nikale he nahi”

Dr. NALIN SHINGHAL, CMD, Central Electronic Ltd. was the chief guest. In his inaugural address, firstly he talked about the political changes in different countries and frequent transformation in technology. He also explained about the GST as a disruptive change which took place in the country. At the end the emphasized on strong foundation of ethical and culture values for surviving in cut throat business environment.

After the inaugural address, souvenir was realized by the chief guest. The sponsors to the event were felicitated with memento as a token of gratitude.

The theme of the technical session 1 was "Technology & Innovation. The session chairman was Mr. S.S Sharma, Partner System Dynamics. The distinguished speakers for the technical session were Mr. Prashant , Vice President (Product), Paytm and Ms. Pinky Maheshwari, Founder of Surprise Someone , ( A Start-up)

Mr. Prashant emphasized on the technology shift especially in movies. He further talked about disruptions in digital sphere, the revolution from PC's to Mobile, wireless communication and Operating systems such as MS DOS system etc.

Ms. Pinky talked about the power of disruptive innovation and also emphasized on Start-up. Ms Pinky briefed about her own venture of recycling with innovation, which was highly recognized by the

Government.

The theme of Technical session 2 was “Ecology, Environment - Business & Society. The session was coordinated by Mr. Vinay Gupta, Executive Director GMA..

The distinguished speaker of the session was Dr. Laxman Prasad & Dr. Sapna Rakesh . Director IMS UC Campus.

Dr. Laxman started with the budget- its current status and challenges. He also talked about the impact of Global warming, climate change, green house effects and Solar energy. Further he added about the initiative taken by the government in solar energy.

Dr. Sapna Rakesh Started with the topic environment, climate change, Global flooding, green house effect. She illustrated the disruptions in the environment and actions that have been taken and also those that are required to be taken.

Welcome address on Governance & compliance for sustainable development was delivered by CA Rakesh Chharia, Sr. Vice President GMA & General Secretary IMS Group of Institutions, Ghaziabad. The Chief Guest, Mr. Ajit M Sharan, IAS (Retd.), Former Secretary to the Government of India, Department of AYUSH shared his very valuable views on governance and compliance for sustainable development and how it is related to transformation of the business environment. He gave his ideas on how to face the disruptions and maintain sustainability. He then gave away the awards to students who won SCROLLS, a Technical Paper presentation competition conducted by AKGEC in October 2017. The winners were awarded the certificate and cash prizes; and to the top three team members who won the competition on Best HR Practices, conducted for the member industries by GMA in November 2017.

The results for the lucky draw technical session 1and technical session 2 were announced. They were awarded laptops as their prizes.

Mementos were presented to the Chief Guest and to organizers of the convention.

After that Mr Vinay Gupta, Executive Director, GMA proposed the vote of thanks to all sponsors, advertiser, organizer and those who toiled day and night to make the convention an eventful one.

Valedictory session

The theme of the convention was: “LEADERSHIP IN AGE OF TRANSFORMATION - AN OPPORTUNITY FOR DEVELOPMENT”

Disha Newsletter (October 2017 to March - 2018 ) 5

Disha Newsletter (October 2017 to March - 2018 )

REPORT ON WORKSHOP ON GOODS & SERVICE TAX

Ghaziabad Management Association along with Department of Business Administration – ABES Engineering College, Ghaziabad organized a Workshop on Goods & Service Tax (GST ) on Saturday, 23rd December 2017 at ABES Engineering College, Ghaziabad.

The objective of the workshop was to make the participants aware of and update them with the recent changes in GST Law. Further, the workshop provided hands – on operational exposure and knowledge in Tally ERP software for compliance of GST Law.

The workshop was conducted in two sessions. The speaker of the first session was CA. Manoj Kumar Goyal who appraised the audience with the concept and various complexities and dimension of GST. He clarified the queries raised by the participants through

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practical examples. The second session was taken by Mr. Anurag Agarwal, Business Manager, Tally Solutions and Mr. Sarwan Nagar, Operation Team, Tally Solutions.

Members from organizations like Godfrey Philips, International Tobacco co. ltd., Micromatic Grinding Technologies P. Ltd, CHW Forge P. Ltd., ABES Engineering College and other participated enthusiastically.

The workshop was blessed by the gracious presence of Dr. Gajendra Singh, Director – ABES EC, Dr. D. K. Sharma, Director – ADMIN, ABES EC, Dr. R. K. Singal, HOD – MBA , ABES EC, Mr. Vinay Gupta, Executive Director – GMA and CA. Gulshan Thapar.


ANNUAL FAMILY GET TOGETHER FUNCTION OF GMA

Ghaziabad Management Association organized Annual Family Get-together cum Picnic on 17th December 2017 at Partapgarh Farm & Resorts at Jhajjar, Haryana. Around 26 families (80 – Adults & Children) participated in this event. When we reached at the venue they welcomed all the members with tilak & showering flowers petals.

The farm was in ethnic rural setting which had facilities of fun, adventure, learning & enjoyment. The Members enjoyed camel rides, tractor rides & rides in the filed. There were rural games like airgun shooting, archery dart shooting, gulel & other ethenic games

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like pithoo, kite flying, tug of war etc. the members also enjoyed and learned rural domestic activities like weaving charkha, potery, grain grinding & farm fun activities like mud bath, Burma bridge, puppet show etc. People also played games like volley boll , table tennis, carom & others. In addition to all these the campus provided a feast of fresh flavor and uniquely different culinary experience which the members enjoyed and would savor for long time. The members went in two buses and enjoyed the journey both ways which was almost 3hours each.


BLOOD DONATION CAMP

Ghaziabad Management Association in association with INMANTEC and Rotary Club, Sahibabad, organised a Blood Donation Camp on 17th November 2017. In this camp around 120 donors donated blood from persons that included the students faculty and staff. Blood donation is the highest type of humanitarian

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service one can give, because it saves life and you need not be a doctor to save life, just donate blood. A lot many representatives from the Rotary motivated the donors by their presence. Each donor was provided with a memento.

COMPETITION ON BEST HR PRACTICES

In order to work towards attaining its vision and mission of Enabling Ghaziabad Organizations to become globally competitive and to Facilitate Organizations and Individuals realize their potential, Ghaziabad Management Association organized a competition on Best Practices in HR for Industries in Ghaziabad at Hotel Apple Tree on Saturday, 11th November 2017.

Seven Industries took part in the event. These were:

Bharat Electronics Ltd.;?Continental Carbon India Ltd.;?Godfrey Phillips India Ltd.;?Ghaziabad Precision Products Pvt. Ltd.;?Micromatic Grinding Technologies Ltd.;?NTPC Ltd.;?Shriram Pistons & Rings Ltd.?

All these companies presented their practices in all or any of the following domains:

Training & Development;?Performance Management System;?Safety health & Environment;?Welfare;?Suggestion Scheme.?

The presentations were judged by :

Dr. A G Agarwal, Former CMD, Central Electronics Ltd & Director Wapcos Ltd. and a few other Companies;

Dr. S J Rao, Former CEO, Samcor Ltd. and Consultant, Incharge MDP Division, ABES Engineering College;

Mr. Prashant Sharma, Chief Manager HR, GAIL, Noida.

The award winners were:

NTPC – Winner;


Godfrey Phillips – Runner Up;

Ghaziabad Precision Products Ltd – Special Prize.

The event saw a very good participation from delegates and after all the presentations, a Panel of all the presenting organizations was formed to take up questions from the delegates. There were a great

deal of questions which were very aptly answered.

GMA proposes to conduct more such events for industries in other fields of Management and also similar competitions for the Institutional members.


BLOOD DONATION CAMP AT RKGIT

Department of Management Studies, RKGIT in association with Ghaziabad Management Association (GMA) and Rotary Club, Ghaziabad South End organised a blood donation Camp on 6th October 2017 in lieu of 1st October 2017 observed as National Voluntary Blood Donation Day every year. The camp was inaugurated by Prof. Laxman Prasad- Director R&D RKG Group of Institutions along with Shri Pankaj Goel- Chairman Blood Donation, Ghaziabad South End , Shri Vinay Gupta – Executive Director GMA, Dr. Arvind Singh- Dean Academics RKGIT, Dr.

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Vibhuti- Professor & Head MBA. Around 300 donors donated blood from all courses that included the students faculty and staff. Blood donation is the highest type of humanitarian service one can give, because it saves life and you need not be a doctor to save life, just donate blood. A lot many representatives from the Rotary motivated the donors by their presence. Each donor was provided with a memento and a smiley ball as 6th October was observed as World Smile Day.

DISRUPTIVE MARKETING- OPPORTUNITY OR THREAT

The marketing has the power to enable the company to influence its customer by the offerings and value. The company designs its existing products or services and differentiates in market and uses Disruptive Marketing. The opportunity of disruptive marketing lies in the hands of marketer but on the other side this poses threat from the competitors. Reliance Jio shows the exemplary performance by its disruptive marketing strategies which areconstantly giving threat to its major players of markets like airtel, Vodafone and so on.

The market is driven by the competition and the distinctness of a product creates the differential advantage. The company like Amazon who knows how to customize as per the customer needs, take the lead role in the market and others follow them. The best e_wallet company is Paytm which has taken the lead over others by its disruptive strategies of marketing their products.The company like Patanjali has crossed Rs 9000 crore revenue with its disruptive marketing and creates the threat for Colgate and Palmolive, ITC and other players. The Colgate which used to be big brand in last many years has lost its brand equity and now Dantkanti has taken over.

The development of product is the initial stage, the design thinking approach has dominated the market space where marketers need to be innovative and disruptive. The artificial intelligence is soon going to be part of Marketing 4.0. The future of Marketing where the technology like Chatbot and Predictive analytics will be used by artificial intelligence and performance will become competitive. The marketer if wants to be successful require having future thinking and design thinking approach.

Contributed By:Prof Surabhi Singh

IMS Ghazibad


GLASS CEILING- A CHALLENGE TO WOMAN EMPLOYEES

Glass Ceiling is an unacknowledged artificial barrier that prevents qualified women and certain sections of minorities from advancing upwards in their organization .It is invisible but real barrier through which the next stage or level of advancement can be seen but cannot be reached by a section of qualified and deserving employees .Such barriers exist due to implicit prejudice on the basis of age, ethnicity , political or religious affiliation and/or gender. Although such practices are illegal but are prevalent in all the countries. In today’s world whether it is developed or undeveloped country women are rising to the positions of high responsibility and leadership and they are ready to face all the obstacles in their way of career development. Many women have raised themselves to high positions in all the fields such as CEOs in big corporate houses e.g Chanda Kochhar and Kiran Mazumdar Shaw, leaders of great political parties e.g Indira Gandhi and Sushma Swaraj. But the presence of few women in high political and corporate offices has however not been because of rapid rise in the status of women in Indian society or in Western Countries but it is because of the fact that women have gradually come to surpass men in education

Across all organizations in the United States, 51% of those in professional & management positions and 23% of chief executives are women. Women make up 32% of employed workers in India. Despite this progress, women, in all nations, have a long way to go before achieving equality with men. Change is uneven, faster in some organizations and sectors of the economy than in others, and much faster in some nations than other nations.

In the United States, women are now earning 58 percent of bachelor’s degrees in universities as well as the majority of more advanced degrees. In India, women hold one third of non-technical degrees and 28 percent of technical or post-graduate degrees.

In order to make this glass ceiling transparent and bring gender equality attitude of people at large towards women as leaders and managers has to change. However such change can be seen when

asked whether people prefer to work under a male boss or female boss ,the answer is that gender hardly matters it is the leadership quality which matters a lot. But somewhere behind the mind the preference is male boss.

The roots of this preference (for men in authority) lie in the characteristics that people commonly ascribe to women, men, and leaders. Cultural stereotypes can make it seem that women do not have ‘what it takes’ for important leadership roles. People predominantly associate women to communal qualities such as ‘being nice’, socially skilled, and compassionate but more agentic qualities such as being assertive, dominant, and competitive are still connected to men. These more masculine qualities have a fairly close match to the qualities that people think lead to success as a leader. However, this tendency for cultural stereotypes to portray leaders as more like men than women is reducing all over the world. Leadership roles are increasingly viewed as relatively androgynous, requiring a good measure of the communal qualities ascribed to women along with the agentic qualities ascribed to men.

This shift in stereotypes reflects social change. It is observed that more people see women in visible and important leadership positions, the more they shift their attitudes to view women as more agentic and able to lead.

Change towards gender equality is not a straight single direction step. Instead, along with social change it also requires individual commitment and collective struggle. As women gain greater equality, a portion of people react against these changes, producing backlash. Some people long for familiar, traditional arrangements when men took charge and women followed their lead. For women, progressive change requires countering these backward-looking sentiments and concentrating on moving forward and facing career challenges.

Contributed By:

Dr. Vibhuti

Professor

RKGIT (MBA)

WATCH YOUR STEP It is said that the best time of life is from 40 to 60 years age . At that time you actually know what you want to achieve, and your aims & objectives in life are clear .

But at the same time , you should follow some rules to keep yourself healthy till later in life. In this context the adage is correct -- " What you sow is what you reap ". The formulas which you follow in Diet , Exercise , and general life- style help you in achieving a healthy life span.

Roughly, and in short the following are true .

1. DIET - Includes 3 main meals , each containing Proteins, Carbohydrates & some Fats.

Proteins are muscle & brain food ; comes mainly in milk, curd , eggs, cheese, roasted grams, sprouts & nuts.

Carbohydrates are energy giving, and come from chapati, rice, bread, poha, idli, upma etc. If consumed in excess, they will be stored as fat in the body.

Fats are essential for energy, & add to the taste and palatability of

food.approx.one teaspoon each of ghee/ clarified butter, seed oil, coconut oil per day is enough.Saturated fat and hydrogenated oils are strictly No-no.

4- 5 helpings of salad & vegetables( uncooked or cooked ) per day to be included.

2. WEIGHT -Weight watching is a must , because increase in weight augments diseases like Diabetes Heart attack, and arthritis.

3. WATER -8-10 glasses of water per day is essential for organ cleaning & maintenance ( few glasses more in the summer).Ayurveda says that 2 glass of water should be taken on getting up.You can take it warm , with lemon and Honey .

4. EXERCISE - Walking is almost the best Exercise, and 1- 2 hours in a day is enough; People in sitting jobs should walk 10 minutes every three hours; sitting at desk too long collects belly fat. One may do cycling, jogging or Yoga too.These help in stretching & deep breathing.


5. Sleep -- As a rule , 8 hrs. of sleep each night , at least 5 days a week is essential. Early rising is Good, & working nights regularly , is bad for health.

6. Stress --Stress is inherent in human beings & a little bit is good for achieving goals. It is bad for health if it results in your shouting at your kids, or at your office-workers. Any such time , drink 1-2 glasses of water, take few deep breaths , or exercise your ankles; to dissipate agitation. Also , having meals together s, and cracking jokes or laughing loudly is known to neutralize stress.

7. Some Habits --Tobacco chewing or smoking are equally bad for

the Heart, Brain attacks, and predispose for Cancer.

2-3 cups of tea or coffee are not bad.

Taking too much of salt orsugar are bad for health.

All in all having raw & less cooked food, on slow heat is better.

Contributed By:Dr. Arun Lata Das

Physician (MD) and Life member GMA

S W O T

SWOT analysis - definition:-

A SWOT analysis (alternatively SWOT matrix) is a structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. A SWOT analysis can be carried out for a product, place, industry or person. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective.

When do you use SWOT?

A SWOT analysis can offer helpful perspectives at any stage of an effort. You might use it to:

• Explore possibilities for new efforts or solutions to problems.

• Make decisions about the best path for your initiative. Identifying your opportunities for success in context of threats to success can clarify directions and choices.

• Determine where change is possible. If you are at a juncture or turning point, an inventory of your strengths and weaknesses can reveal priorities as well as possibilities.

• Adjust and refine plans mid-course. A new opportunity might open wider avenues, while a new threat could close a path that once existed.

SWOT also offers a simple way of communicating about your initiative or program and an excellent way to organize information you've gathered from studies or surveys.

Existing businesses can use a SWOT analysis, at any time, to assess a changing environment and respond proactively. In fact, I recommend conducting a strategy review meeting at least once a year that begins with a SWOT analysis.

New businesses should use a SWOT analysis as a part of their planning process. There is no “one size fits all” plan for your business, and thinking about your new business in terms of its unique “SWOTs” will put you on the right track right away, and save you from a lot of headaches later on.

SWOT analysis groups key pieces of information into two main categories:

1. internal factors – the strengths and weaknesses internal to the organization

2. external factors – the opportunities and threats presented by the environment external to the organization.

Strengths (internal, positive factors)

Strengths describe the positive attributes, tangible and intangible, internal to your organization. They are within your control.

• What do you do well?

• What internal resources do you have? Think about the following:

o Positive attributes of people, such as knowledge, background, education, credentials, network, reputation, or skills.

o Tangible assets of the company, such as capital, credit, existing customers or distribution channels, patents, or technology.

• What advantages do you have over your competition?

• Do you have strong research and development capabilities? Manufacturing facilities?

• What other positive aspects, internal to your business, add value or offer you a competitive advantage?

Weaknesses (internal, negative factors)

Weaknesses are aspects of your business that detract from the value you offer or place you at a competitive disadvantage. You need to enhance these areas in order to compete with your best competitor.

• What factors that are within your control detract from your ability to obtain or maintain a competitive edge?

• What areas need improvement to accomplish your objectives or compete with your strongest competitor?

• What does your business lack (for example, expertise or access to skills or technology)?

• Does your business have limited resources?

• Is your business in a poor location?

Opportunities (external, positive factors)

Opportunities are external attractive factors that represent reasons your business is likely to prosper.

• What opportunities exist in your market or the environment that you can benefit from?

• Is the perception of your business positive?

• Has there been recent market growth or have there been other changes in the market the create an opportunity?

• Is the opportunity ongoing, or is there just a window for it? In other words, how critical is your timing?

Threats (external, negative factors)

Threats include external factors beyond your control that could place your strategy, or the business itself, at risk. You have no control over these, but you may benefit by having contingency plans to address them if they should occur.

• Who are your existing or potential competitors?

• What factors beyond your control could place your business at risk?

• Are there challenges created by an unfavorable trend or


development that may lead to deteriorating revenues or profits?

• What situations might threaten your marketing efforts?

• Has there been a significant change in supplier prices or the availability of raw materials?

• What about shifts in consumer behavior, the economy, or government regulations that could reduce your sales?

• Has a new product or technology been introduced that makes your products, equipment, or services obsolete?

Once you have identified and prioritized your SWOT results, you can use them to develop short-term and long-term strategies for your business. After all, the true value of this exercise is in using the results to maximize the positive influences on your business and minimize the negative ones. But how do you turn your SWOT results into strategies? One way to do this is to consider how your company’s strengths, weaknesses, opportunities, and threats overlap with each other. This is sometimes called a TOWS analysis.

For example, look at the strengths you identified, and then come up

with ways to use those strengths to maximize the opportunities (these are strength-opportunity strategies). Then, look at how those same strengths can be used to minimize the threats you identified (these are strength-threats strategies).

Continuing this process, use the opportunities you identified to develop strategies that will minimize the weaknesses (weakness-opportunity strategies) or avoid the threats (weakness-threats strategies).

Once you’ve developed strategies and included them in your strategic plan, be sure to schedule regular review meetings. Use these meetings to talk about why the results of your strategies are different from what you’d planned (because they always will be) and decide what your team will do going forward.

Contributed By:

M L Harit

09810603211

Entrepreneurship has been in a lot of discussion in last few years. In last few years India has seen a great rush in this sector. Still if we closely examine the situation, we have very low rate of success in this field. What is the possible reason behind this?

A survey report says that 95% businesses close down within the first year of their start. Out of remaining 5% businesses 3% close down within next 2 years. A lot has been said about such statistics. But very few talk about the reason behind this scenario.

Today let us try to examine why it is so? Why it is so difficult to be an entrepreneur in India? Why so many people are not able to succeed in business? What can be done to improve this situation?

Many surveys have been done in recent years to identify some reasons behind the above mentioned situation. One such survey claims lack of finance to be the reason behind it. Some says the planning skills of promoters were not good enough. Another article finds the lack of effective execution to be one of the reasons.

In my view, the above factors may be some reasons, but they are not the main reason behind it.

The main reasons, according to me are two.

First, Most businesses are started with a wrong understanding that the business is get rich quick scheme and because we are in business we must earn huge earnings. Well please don’t get me wrong. I don’t mean that you shall not earn profit in business. What I mean to say is that, Profit shall be the secondary focus.

The main focus shall be on building the organisation. Its reputation in the market. Its customer base. And above all its customer satisfaction. If this phase is understood well and is executed well profit will automatically flow.

We have many examples to prove this.” Paytm” which is so famous today is still in loss of hundreds of carores. But can anyone say that it is not a successful startup.

Flipcart has been sold to wallmart for millions of dollars, do you know it has not been in profit till date. How many of you feel that founders of flipcart are failures.

Now let us come to the second point.

Second point is that entrepreneurs in India in majority of cases treat

SECRETS OF SUCCESSFUL ENTREPRENEURS

Entrepreneurship as an option and are more inclined towards job. Let us see how.

After completing graduation or post graduation, a general candidate looks for a job. Today majority of colleges offer campus placement. Let us say Mr.X was not able to secure a job for himself in the campus placement. Will he give up on job? Obviously No. He will keep searching for job till he gets one.

Now let us take it further. For the utter misfortune of our Mr.X say he was not able to get any job even after 1 year of completion of his education. What will a general person do in this case.

What I have observed is that people often opt for higher studies or a popular course in such cases. Some people start preparing for competitions related to Government job. Some even settle down for a underpaid job not suitable for their education. No wonders we have so many engineers selling Insurance.

Now re read the above case and find out, after failure in hundreds of interviews, did Mr.X gave up on job. The answer is NO. Then why do we give up on our business in the first year itself, Or in the subsequent year. This is because we have a mind which believes in job. And this belief system has been generated by our peer group, our society, our education system, and our family.

Now many people will say that business needs investment. They totally forget the investment made in the education of a candidate in educating himself from nursery to post graduation, especially when education has become so expensive today.

So to conclude I will say a successful entrepreneur shall not be hungry of money but of success. (Needless to say these are two different things). He focuses on success of his venture. For a true entrepreneur his venture is like his baby on whom he never gives up. He persistently works for the success & betterment of his baby without quitting, and this is what the secret of success in entrepreneurship is.

Contributed By :

Rahul Goel

Pragati Guru Institute of

Entrepreneurship Development


APPLICABILITY OF MAIN LABOR LAWS ON INDUSTRY AND INSTITUTIONi) Wage Related

- Payment of Wages Act 1936

All Factories as per Factories Act, wokshop and other industrial estabilishments

Applicable to the persons employed not getting salary 24000/- or more

Nil- Minimum Wages Act 1948 To all establishment employing one or more person and engaged in any of the scheduled employment

- Payment of Bonus Act 1965

All factories/establishments where 20 or more workmen are employed any day during accounting year

i) Not Applicable to the person getting salary more than 21000/-

ii) Not Applicable to the university/others institution not for the purpose of profit

iii) Bonus shall be payable on 7000/- or minimum wages whichever is more

iv) Not applicable if worked for less than 30 days in accounting year

v) 5 years for newly setup business if not earning net prifit(after setting off previous loss

ii) Condition of Service and Employment Related

- Factories Act 1948 All factories employing 10 or more workers if using power and 20 workers if not using power

- Industrial Employment (Standing Order Act) 1946

All industrial establishment having 100(20in UP) workers

iii) Social & Women Security Related

- Employees State Insurance Act 1948

All establishments employing more tha 20 employees


- Employees Provident Fund and Misc Provision Act 1952

All establishments employing more tha 20 employees


- Payment of Gratuity Act 1972

All factories & commercial establishments employing 10 or more employees

i) Covers educational institutions as wellii) Minimum 5 years service is a mustiii) No wage limit for entitlement

- Maternity Benefit Act 1961

All factories & commercial establishments employing 10 or more employees

Woman must have worked minimum 80 days in past 12 months

- Employees Compensation Act 1923

Covers almost all establishments i) Does not applicable if workman is under ESIii) No limt for maximum/minimum employees

- Sexual Harassment of Women at Work Place Act 2013

Applicable to all establishments i) Irrespective of employment of female employee

- Equal Remuneration Act All scheduled establishments employing male and female employees

Nil

Nil

iv) Contract Labor Related

- Contract Labor Prohibition and Regulation Act 1970

Any establishment engages 20 or more person on any day 0f precceding 12 months as contract labor through 1 or more contractors

Also covers all contractor employeeing 20 or more workmen as contract laborer

- B u i l d i n g a n d O t h e r Construction Workers Act

Every establishment including any building or construction of own residence which emloyes(ed) on any day of preceeding 12 months, 10 or more building workers

i) All establishments where proviosion of factories Act applies

ii) Construction cost should not exceed Rs 10 lacs (excluding land cost) in case of residence

- B u i l d i n g a n d O t h e r Construction Workers Welfare Cess Act

Same as Above Same as Above

- I n t e r s t a t e M i g r a n t Workemen (Regulation of employment& condition of service) Act 1978

Every Establishment in which 5 or more interstate migrant workman are/were employed in any day of preceeding 12 months

v) Others

- Motor Transport Worker Act 1961

Applicable to every motor transport undertaking

i) Should employ min. 2 motor transport workersii) Vehicle used for transport of sick/injured

persons are exempt

- Industrial/UP Industrial Dispute Act 1947

Applicable to every establishment/industry i) Not applicable to the managerial personii) Supervisor drawing wages more than 10000/-

having managerial power

Contributed By:CA. Anil Agarwal

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A man walks into a store and he saw a thermos. The clerk walks up to him and asks, "May I help you with anything?""Yea! What is that?""Why that's a thermos!""What's it do?""It keeps things hot and it keeps things cold!""I'll take it"The next day the man goes to work carrying this thermos. His co-workers ask him, "What's that!""It's a thermos""What's it do?""It keeps things hot and it keeps things cold!""So whatcha got in it?""Two popsicles and a cup of coffee."

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