EDITORIAL

Greetings from the Editor!!

It is a pleasure indeed to announce the launch of our latest magazine yet. Hearty thanks to you for adding eyeballs

to this initiative and to ensure this cycle continues, helping each other in the process. Another opportunity to take it

one notch higher and also to see this tiny seed sprout out further.

As each of us work towards securing a good future for ourselves, we try to manage our time in the best way

possible, including us members giving time for this club. But sometimes in this process, the balance seems to tip in

favour of ourselves, unsettling the state of the club‟s happenings that should take place. In my recent experience at my

recent internship, I recall the words of Shah Rukh Khan in Chak De India, as he tries to drive his players to look at the

bigger picture:

“I want players to play for their country. Their complete purpose of playing hockey must be for the country‟s end.

Next, the players must play as a team to win the World Cup, and by any chance, if there‟s any ounce(s) of energy left,

use it for your development.” This clip was used as an assessment activity for the senior management of a client.

A very serious thought to ponder on Crucibles, and this message is for me too. God bless you guys!!

Benjamin Taylor

ISBE/FW/11-13/E

Patriotism

Our 64th

Republic Day on 26th

February 2013 was a grand celebration with military parades, the amazing fighter

planes decorating the sky by shooting smoke trails in the Indian tricolor and our honourable Prime Minister

enlightening us with his speech. 26th

February 1950 was the day our Constitution came into force. But the core

objective behind these celebrations have been long forgotten. Freedom from British wasn‟t procured to get caged

by our own people. Rights are given to all, but fear is associated with its utilization. There couldn‟t be a more

secular and democratic country as ours.

Patriotism, now merely a word, seems to unleash from within us all only during such occasions. The

traditional concept of “Love for Our Country” is fading away due to the cumbersome affairs of our existing

political parties. India has turned into a nation where one needs a reason to be patriotic. But this outlook of ours

sure paid off during the unforgettable Delhi gang rape. Our people simply blinded themselves to every culturally

identifying factor and stood together as a nation for an individual.

Think of a nation where we need not be patriotic for a reason, instead of one that is patriotic from birth. The

true road to development and progress in our country starts at a point where indifference ends and nationalism

begins. As education is the one period of time which requires our complete dedication and focus, it can even prove

to be a field to escalate our feelings of patriotism. The economic development achieved after over six decades of

freedom is drastic and obvious. But undoubtedly monopoly can bite away a huge chunk of this advancement. This

is where the Right to Equality makes an entry.

It would simply be disastrous to watch our nation being destroyed by discrimination. Nevertheless, there exists a

belief that, tremendous effort from us youth and good governance can bring alive the feeling of being an Indian.

Discourage the notion of „Community‟ and propagate that of „Unity‟…..!!!!!

Neetu

ISBE /F&FW/12-14

Fear - A Compass of You!

Fear is not a new word for all of us. “I am nervous, I can‟t do it” is the inner voice which discourages us from

achieving our goals. At IIPM, I see many people either nervous or afraid about their class presentations, exams,

placements, internships and many other creative reasons. Its heartening to note that in all the creative hurdles faced,

I‟ve realised one fact is common - “Imagination”. A teacher of mine said, “99% of people who worry only imagine

that situations are adverse towards them, however just 1% have actual worries. These imaginary hurdles are the

same for all of us. We build unrealistic fear and assume that we cannot accomplish it“

I got the idea of writing about this topic from an HBR article “To Change the World, Fear Means Go” by

Lara Galinsky. He says fear is a compass — an indicator of the direction you should go in if you want to become

the person you have the potential to be. He chooses a simple viewpoint to how to overcome this “I am nervous, I

can‟t do it”. According to him, every time you're afraid of something, instead of losing confidence take these three

steps:

Acknowledge that you're afraid: Accept the fact that you are afraid. Do not try to swallow your fear nor

do act as if you are not afraid. A live example “A classmate of mine was very afraid of executive

communication (Ex.Comm) presentations and . But later she took it in her stride and with a little support

and practice, she gave one of the best presentations in class”.

Determine what kind of fear it is: Ask yourself: Is this a realistic fact or am I imagining it ? (eg. Is this

exam so tough that I cannot crack it? (Or) with a little help and hard-word I can crack it?)

Acknowledge it as a gift: I cannot disagree the fact because fear always made me work harder and

increased the probability of success.

At the end, what we have learnt from fear is important. We have both the results in our control-success and

failure; the result depends upon what we choose from these. To win it, I am in it and I will reach my goal with my

navigation.

“If you are afraid then let’s navigate”

Aijazuddin Ahmed,

PGP/Win-2&3/12-14

(Write to me at aijazuddinahmed@gmail.com)

Now is the time/The patient needs it..

Fiscal policy holds greater importance in the present context as India is in the process of rebuilding its economy.

The Government is eyeing towards a progressive tax instrument that will be the prime component in the annual

budget 2013-14 following the Chairman of the Prime Minister's Economic Advisory Council C.Rangarajan„s idea

towards increasing the TAX to GDP ratio. The taxation structure in India has been liberal but tax payers are at a

meagre 2-3% of the overall population. Earlier this millennium there was the Kelkar tax reforms, where the whole

philosophy was to go back to simplicity, lower tax rates and eliminate or substantially reduce exemptions but it

seems to be not effective. Neither have we have had an efficient tax collection administration nor effective

punishment for evaders.

Many world economists went gung-ho when Warren Buffet‟s article “Stop Coddling the Super-Rich” was in The

New York Times that talks about sharing the burden of Government and immediate tax increment. When people

spend billion dollars in philanthropy they can also share the tax burden of Government, this being the bold message

of my article. Higher income section wouldn‟t spend less but there is a threat of losing major investment to our

peers in other developing nations.

Its true that tax rates are controlled by the government but revenue obtained from taxes depends on changes in

household income and the size of corporate profits, which the government cannot control. US recently saw an

election fought for issues regarding taxation policy and Government spending. A country like America with a lot of

administration and one of the best progressive tax structures is incapable of diluting the income inequality stating

that Keynesian outlook is speculative. India has a relatively lesser chance to mitigate income disparity issue by

charging the super rich more than present. In our country nearly 60 per cent

of the economy is out of the tax net and tax collections from services, which account for more than half of the

economy, are less than one per cent of GDP. IT, ITES are left untaxed along with several other service industries.

We don‟t have a horizontal and vertical taxation balance. But horizontal parity is not an easy target because many

sectors are outside the tax net. India has nearly 35 million taxpayers, but only 1.7 million have a declared income

of more than Rs 10 lakh. Nearly 89 pct say their income is under Rs 5 lakh. Just 400,000 people declare an income

of more than Rs 20 lakh. Samiran Chakraborty says that if the government increases the tax rate for individuals

earning more than Rs 20 lakh a year by five percentage points to 35 per cent, it will only raise an additional Rs

4,500 crore, or 0.05 per cent of GDP, who is Head of Regional Research, Standard charted.

Fiscal policy aims at mobilization of resources, acceleration of economic growth and minimizes income

disparity. In short fiscal policy controls tax revenues of the government, undertaken to promote full employment

and price stability. Fiscal policy changes especially the taxation part is always done to prevent signs of economic

depression if any country is moving towards it. After lengthy recession years depression fears are tamed by

changing aggregate demand structure.

It is a radical approach that higher taxes at the top can reduce inequality and may not weaken the economy as a

whole. The super rich cannot take the burden for a longer duration as the size of middle class is much bigger and

the poor middle class (who pretend to be) have to take a bit of the burden. We can‟t get all the revenue we need

from the rich. Eventually, everyone will have to pay more. Eventually the quest will get its answers on the 2nd

week

of March.

Thank you,

Rahul Patnaik

IIPM/FW/11-13/D

A ‘Dream’liner, for real??

We‟re talking about the behemoth Boeing 787 Dreamliner! The first of its kind, it is one of the most advanced

aircrafts being launched in the aviation industry in the recent times. The Boeing Commercial Airlines states that it‟s

the company‟s most fuel-efficient airliner and the world‟s first major airliner to use composites. If you‟re

impressed, two recent incidents of a fuel leak and a fire breaking out in Japan Airlines should give you the jitters

about its safety. Fortunately, no one was seriously harmed. Further, there have been a series of such risky incidents.

For instance, last December, A United Airlines 787 had to make an emergency landing due to an electrical panel

issue, with its second 787 having the same problem too. Qatar Airlines admitted having grounded one of its 787‟s

because of electrical issues. Faults such as the fuel leaks, cracked windshields and overheating batteries, are some

of the common issues faced by all 787s. So, on January 16th

the FAA (Federal Aviation Administration) ordered all

US 787s to be grounded, until they are deemed safe to fly. These turn of events resulted in Boeing Commercial

Airlines losing its share value by 3%; it has been underperforming since December 2012.

So what is the problem with Boeing 787? Before we discuss that, let‟s see what exactly makes the Boeing

787s different from other Airlines, because that‟s probably where the problems may lie.

Boeing 787 Dreamliner

State-of-the-art engine which saves up to 20% fuel.

As mentioned earlier, it‟s made of 80% composite materials, mainly, carbon fiber, reinforced plastic, which

makes it much lighter than conventional planes.

Has lot more consumer-friendly features/amenities.

It can hold up to 296 passengers.

It includes a new noise reduction technique, so it‟s 60% less noisy;

The project was prolonged by cost overruns and years of delay during the airplane‟s development process.

Some doubt that Boeing‟s rush to get the planes built after being 3 years behind schedule, resulted in the recent

incidents. So did they actually compromise on the nitty-gritty involved in manufacturing this giant jet?

Richard Aboulafia, VP Analysis, Teal Group, said, “There are a lot more glitches than normal, but there are a lot

more new technologies than normal. They‟ve tried an awful lot of new ideas

with this plane.” Too much of innovation becomes a problem. On the other hand, one believes that new technology

always leads to growth of global economy. So there needs to be a balance! So the above were couple of rumored

„problems‟, which Boeing persistently denies. Coming to the real technical problems, which actually resulted in the

recent events that NTSB (National Transportation Safety Board) and FAA are investigating on, the Lithium-ion

Batteries used by the high-tech Dreamliner is the same kind used in laptops or cell phones and electric motors,

instead of traditional hydraulic controls used to control the batteries, used in preceding jets. In order to cut down on

energy use, Boeing relies on electrical power for that, from some powerful lithium-ion batteries.

Lithium-ion Batteries:

Are highly flammable in certain conditions.

Are vulnerable to overheating if overcharged, or if discharged too rapidly.

Overheated or damaged batteries can catch fire.

Burn at extremely high temperatures, may emit flammable vapors, flames or sparks, and can explode.

Despite the problems, these batteries are popular, as they can store large amounts of energy. They combine

light weight and a compact size with the ability to charge and discharge quickly. It‟s interesting that, they‟re being

used widely in aircraft. The US military‟s new F-35 Lightning II Joint Strike Fighter jet uses lithium-ion batteries

produced by a unit French battery maker Saft Group. No safety incidents with units! Some experts say its a

manufacturing fault and for others, it‟s the size that makes a difference, as Boeing uses fairly bigger batteries

compared to the others. The investigation report would have two possibilities:

1. Either the effected Dreamliners simply had bad batteries, which could be easily replaced (Good News for

Boeing),

2. Or the use of lithium-ion batteries are essentially defective, that means Boeing has to completely redesign

the jet‟s electrical system and set up major fixes across the fleet (Boeing would not like that for obvious

reasons).

Either way it is going to take a long time to know the problem and to fix the 50 Dreamliners worldwide. Boeing is

already behind in delivery of more than 800 Dreamliners ordered by Airlines all over the world.

Now, a non-technical issue. we see that some travelers are not worried about the 787‟s safety concerns, and a

few do not even know/ care about what model of plane they‟re on! Ignorance cannot be bliss here. And for those

who care, the good news is that the Federal Authority has promised they will determine the cause before the

Dreamliners get back into sky and there would be total transparency regarding the report. Is it going to come out in

„flying‟ colors? Let‟s wait and watch.

MoonMoon Mohanty

What is the cause of most aviation accidents: Usually it is because someone does too much too soon, followed very quickly by too little too late.

— Steve Wilson, NTSB investigator, Oshkosh, WI , August, 1996

When you have two engines, you have two engines that can fall to bits. When you have four, you have four that can fall to bits. The less engines you have, the safer you are.

— Frank Fickeisen, chief engineer for Boeing, replying to a complaint made by the American Airlines Allied Pilots' Association about the

dangers of flying two-engine airplanes across the Pacific.

Reproduced Gyan!!

Prof. Joseph Stiglitz's lecture on Macroeconomics in Crisis:The way forward

Mr. ESL Narasimhan, Governor of AP stated, “Its been a great start to 2013 because its people like Stiglitz

who are keeping the economy in good stead. I represent the 99percent of the population and you(referring to the

Prof.) represent the 1 percent so its about how both of us can work together to synchronize our activities together.

It was an amazing opportunity for us to listen to Dr. Stiglitz, who works with Mr. Y.V. Reddy and Bill Clinton too.

The standard macroeconomic model which we generally learn is slightly distorted. More flexible markets

would have lesser unemployment. But that is not happening as can be seen in flexible markets like the US, unlike

countries like Germany etc. Standard theories don't provide much guidance and it is the primary reason why we're

in a mess. Every one out of 6 citizens are still unemployed in the USA even though we're out of the financial crisis

bubble.

So we're now in fact in a double depreciation phase. There are many assumptions which, though now sound weird,

have become market fashions in the times consequently.

I want to show how modern theories of macroeconomics have failed to get the global economy working

similar to an ideal situation. In the 70's, there was an attempt to reconcile the macro and the micro economic

entities. In the Great Depression, one out of 4 were unemployed. So they tried to make macroeconomics like

microeconomics and vice-versa. Therefore, they assumed that there's going to be no unemployment. Clinton

brought in economists who believed that there's no such thing as unemployment. The unemployed were just

considered people who were enjoying their leisure time. But the question arises: If people are enjoying leisure, they

should b happy. But the unemployed are committing suicide and going on strikes, etc. So there started to emerge

new theories of macroeconomics and unemployment.

We should keep in mind that with the changing market situations, there needs to be an evolution of these

theories too. The US economists ignored the credit market. So when the whole population took items on credit at a

behemoth rate, the whole bubble burst. The rates of deflation during the 1930's were decreasing at 10 per cent per

year. Right now in the US, the inflation rate is at 1 or 2 percent. Economists believed in the 0 percent rate where if

the rates were pegged below 0 percent, it would boost the economy.

Now let's look at the way in which the monetary policies were misguided in the US:

-The belief of success of the banks: So someone said in a book that we were smarter than before, so we can tide

over the crisis.

-The single minded focus on the interest rate was another disadvantage. The loss due to the recession was much

greater than the losses caused due to inflation.

-Now the US Government is focusing on reducing unemployment and then focusing on regulating the interest

rates.

-One of the major drawbacks was not focusing on credit. Credit availability was important

-How independent are banks- the more independent banks are, the more successful can the economy be.

- The presence of bubbles which easily occur. The bubble occurs due to the market itself, not due to a policy

change, innovations etc. Certain shocks get amplified. This leads to balance sheet recessions.

To wrap up proceedings, the Professor quoted that most calamities are man-made. The good news is that the

building blocks for building alternative theories is now rock solid.

P.T.O.

Facebook : How do you build brands through social media

The advantages of social media networks are:

-It gives opportunities for people/companies to connect and share information.

-Interactions provide an opportunity to engage with people. This is done instead of just throwing ads to the people.

How do you build brands through social media? A Brand is a product, an image,

The stages of brand development starts from the :

Meaning: What are you?, Response-What about u?, and finally relationships - What about you and me?

History of social media- In the 90's it was just a matter of browsing through yellow pages. It then evolved into a

search engine. Marketing is a form of being paid, owned and earned. Social media provides assistance to

companies, where you have earned your results of marketing through your reputation and in turn, people talk about

it. The web is reorganizing itself around people. Thus businesses are also reorganizing themselves around people

and reorganizing around people provides results.

Steps to build a successful business page:

-Build your page.

-Focus on your TG.

-Keep posting about events, parties, news items and keep your brand active on the news feeds ie engage your

audience with quality content.

Benjamin Taylor

ISBE/FW/11-13/E

Welcoming ISUZU

Isuzu, a Japanese truck maker similar to other Japanese car makers evolved from the Tokyo Ishikawajima

Shipbuilding and Engineering company in 1910. It released its first truck in 1918 in collaboration with Tokyo Gas,

an Electrical Industrial company and later moved on to manufacture British based Wolseley automobiles.

The first automobile was built in 1922. They took up the task of making the truck and strove hard for 13 years in

technology and product improvement. Eventually, they made the bus which is one of a kind in 1935.

After two years of several merges and split ups, the Tokyo Jidochakogyo Company was founded making it with a

target of the diesel engine expertise. Further adopting the name of a river,‟ Isuzu‟ which means “fifty bells playing

in harmony and celebration”. In 1959 Isuzu developed world‟s first two-ton light duty forward control truck. Later

Isuzu got into a partnership with GM. THE AMERICAN ISUZU MOTORS INC. was founded in 1983.

The 90‟s brought forth new achievements for Isuzu with the launch of the Trooper and Rodeo, a 3 time winner of

Alcan Winter Rally, apart from new vehicles like Axiom etc.Isuzu expanded its segments and markets and made its

presence felt for more than 100 years now.Now Isuzu is entering India in the SUV and Pick-Up segment bringing to

us the best of its products.

The SUV called the Macho MU7, a 7seater, is one its kind. The pick-up truck, D-MAX, is a premium pick up with a

single and crew cab division enabling tough road driving. Isuzu enters India promising to give us lots of „bang for

our buck.‟

Likita Raj

IIPM/S&SS/12-14

GRAPEVINE

Students of IIPM Interacting with small retailers as part of a

Rural & Social Marketing Survey

EXCERPTS FROM AN INTERVIEW WITH BENJAMIN TAYLOR ON ATTACKS ON WOMEN

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