Financial education in schools must be compulsory in India

I have been a great believer in compulsory (non-graded) courses in finance for high school students starting from Class VII and above in India. Financial literacy for students is an important tool to improve the financial capability of our youth and communities. Grasping even the most basic lessons gets students considering available options before making important monetary decisions; in turn, this careful consideration may help them avoid personal debt and improve their chances of achieving financial security. 

In India, there is hardly any school where financial literacy is taught even as an optional course. Many educationists still believe that teaching about money in school might be detrimental to the overall value system of the students. And still many believe that any course on finance could be complicated for any school going student to understand. Both these beliefs are totally incorrect. Teaching about money and financial planning to Generation Z is as important today than ever, as more and more young educated people enter the white collar jobs with five-six digit salaries. Unless they are taught to handle money and plan their future, most of them could land up in financial trouble in the later part of their lives. As for the second class of believers, teaching about finance could definitely be done in a very enjoyable fashion. Financial literacy for students should involve practical activities that introduce youth to the real world.

In short, financial literacy for students is vital to help ensure the financial well being of the students and the communities we live in as it goes a long way to future-proofing their future. It's time that our education policy includes 'financial literacy' as an important aspect while designing school curriculum 

Mohiner Ghoraguli - Bhalo Lage

A little bit of Poetry

We talked of hippies and flowers and rainbows and dope,
Of politics and art and the structure of hope.
Strange nights and days of colours in the air,
Waiting hopelessly for roses by the stair.
As the world showed its affection for those who were faking it,
We got kicked out of school for spreading love and kicked out of home for making it.
This isnt the start of a new era, there isnt even a new plan,
I just hope this one's a little better than the last one

Yes! You are in Sales!

I was recently watching a small clip from Tom Peter's Blog titled 'Yes!You Are In Sales'.As Tom mesmerizes with his talk(we all know him for such talks!),he dwells on the overuse of the word 'Marketing' making sales look like a dirty job.As he goes on to say,"no matter what skills you have,which department or company you work for,no matter your job title,we all are salespeople".As rightly coined by Tom,we are all salespeople,either selling products,services,ideas,or ourselves.Somehow,sales has always been looked down upon by most people in India.I remember my days as a salesperson in Bombay when my sister introduced me as an engineer to one of her friends as she thought that my work was despicable and didn't want me to disclose it either!Salespeople & Organizations alike should be blamed for tarnishing the image of this job.We have seen an influx of unqualified salespeople loitering around the streets selling something or the other without even having any understanding of the product or an idea about their customers

In the United States Unlike India,sales had always occupied a special place in the society as a whole.In his seminal work Walter Friedman of Harvard Business School argues in his book 'Birth of the American Salesman' that America has been the pioneer of modern sales management-salesmanship in America had flourished due to multiple reasons.The emergence of salesmanship in the U.S. depended on a stable currency, the rule of law, the protection of private property, and the availability of credit. These were all aspects of the American economic system. But what made the U.S. unique was the scale of American firms that were founded in the late nineteenth and early twentieth centuries. These massive manufacturing concerns, which produced tremendous numbers of business machines, appliances, and cars, hired salesmen in the hundreds in some cases, and even thousands in others, to create demand for their products. These goods, all pushed by aggressive salesmanship, distinguished the American economy by their early appearance and widespread purchase'

India never had a culture of acceptance of salespeople as a respectable profession in their society(apart from a few big cities)though we all are selling in some way or the other.But having said this,we are moving toward a selling economy similar to how America did in the mid of 2oth century.And we do expect to see more acceptability in our society of salesmanship as a profession too!

Economic Downturn Indicator- Falling Handset Market

The economic downturn in Europe seems to be affecting at least one business that had seen unprecedented growth in the last few years.Though economists feel this phenomena is ephemeral in nature and growth would follow suit with introduction of newer handsets by the likes of Apple & Nokia this year

Economic data from France and Germany released Wednesday added to the recent depressing evidence that Europe is suffering from a deterioration in consumer sentiment and economic activity. French consumer confidence fell to its lowest level since 1987, in May, while in Germany, inflation rose and consumer sentiment also declined

Gartner latest data shows a marked slowdown in mobile phone handset sales in Western Europe; the research firm said Wednesday that total handset sales fell 16.0% in the region in the first quarter of 2008, from the first quarter of 2007, marking the first decline there since Gartner began tracking the mobile devices market in 2001. Strong sales in emerging markets meant global demand rose slightly

I think handset makers like Nokia or Apple is better placed to handle this downturn compared to Motorola which has failed to evoke any market sentiments due to its lack of innovation in recent times.Is this falling demand an indicator of worsening economic environment in Europe? Are we seeing a global recession with America leading the way?Only time would answer this.As Baary Asmus once said 'Economists are pessimists.They have predicted 8 of the last 3 depressions'

Check this out,thought of sharing this with my friends!

What Animal Were You In Your Past Life?
	You were a unicorn. You were mysterious and noble. You have fairytale traits, and other people can only dream in envy. Your nature is completely impossible to decipher and behind all that, you know that you shine bright, for only the luckiest people get the chance to know you.
Find Your Character @ BrainFall.com

Sam Goldman & d.light

Just came across Sam Goldman's story on Always On-someone who wants to light up the world with his concept of d.light.And guess what this initiative is to be first rolled out in India.d.light will provide a source of light that is clean and safe;something most of the household in rural hinterlands of india would love to hear.Sam claims in his blog that his source of inspiration was his neighbour's son who was badly burnt by their kerosene lamp.This incident made the 28 year old gradaute from Stanford Business School determined to look for a cheap solution that would provide safety to millions of people around the world as well as employment to many others.In fact,his company is looking for distrbutors of d.light in different parts of India.Anyone interested!

Wishing Sam all the best in his endeavour

Tribute to Alison Krauss

"Alison Krauss" the name itself espouse the feeling of admiration for this child prodigy who at the age of 14 stormed the American country music scene and redefined the acceptability of 'Bluegrass' in American mainstream music.Bluegrass is a type of music considered to be inherited from the immigrants of the British Isles.To the uninitiated it is basically played on stringed instruments using instruments like banjo, fiddle, mandolin, etc to create sound in the highest voice.Alison is considered to be one of the most prolific fiddle player and have won numerous awards at a very tender age.She released her first album"Too late to cry"when she was barely 16 that made headlines across the American country music circuit.But then she teamed up with Union Station to deliver her second album"Two Highways".This created quite a murmer and she went on releasing multiple albums teaming with Union Station.Her devotion to servicing a song is represented by her increasingly restrained approach to fiddle playing and softened vocals.

Alsion Krauss may not be so popular to mainstream Indian music lovers,though the afficianadoes of country music that I have come across (many in Bombay at least!) do surely have heard of her music.Alison is a multi Grammy award winner,winner of more Grammys than any female artist till date.She was awarded the special musical acheivement award by the Recording Industry Association of America.Alison's music is shaped by her interest in timeless songs of sadness, regret, longing and loneliness.

Check out a part of the lyric of her single "It don't matter now"

It's finally come Is that sorry on your breath?
Where were you when I was sitting back here
Missing you to death?
It don't matter now
How, I wanna know Can you tell me plain and true
How high will you fly
Without me there to be your sky?

Do check out one of her breathtaking single " When you say Nothing at All ", that won her the Single of the Year-1995 and have been re-done by many artists till date.You need a Real Player or any other music player to listen to it.So what are you waiting for..
http://www.savefile.com/files/4980908

Chief Critic Officer !

Corporations have always had an affinity to give some wonderful names to the top hierarchy...CEO,CSO,CFO,and the list goes on.In fact,Apple's boss Steve Jobs defined his position as iCEO!I was wondering if corporations need to seriously put in some thought of having people like a Chief Critic Officer or CCO(considering my immense love for these ubiquitous jargons!)
I have always found it funny that though we talk about open-culture(how does one define it)but we tend to ignore the discussion of what is wrong with the organization,though this happens to be the favourite gravepine doing rounds the corporate corridors or the canteen or office get-together.
Why can't organizations foster the spirit among employees where they could critize the way things are been run from a strategic or operational point of view.Of course,I only subscribe to the idea of collating their feedback by a responsible authority..maybe the CCO.She should also be responsible in mixing with the customers or masquerading as one of them to find out what the customers think about their organization.This would help the organization to understand the real perception fostered in the minds of the stakeholders.

Back again!

Back again scribbling in the long forgotten pages of my virtual diary..
I was listening to Anne Murray's You Needed Me and became nostalgic of those days in high school when the lyrics of this song was an anthem for us.Just wanted to scribble a part of the song that I like the most..

To stand alone again
To face the world
Out on my own again
You put me high upon a pedestal
So high that I could almost see eternity...

You held my hand
When it was cold
When I was lost
You took me home
You gave me hope
When I was at the end
And turned my lies
Back into truth again
You even called me friend


Not a better way to restart an innings!

Your IQ Is 120

Your Logical Intelligence is Below Average Your Verbal Intelligence is Exceptional Your Mathematical Intelligence is Exceptional Your General Knowledge is Exceptional

A Quick and Dirty IQ Test

Oxymorons!!

Hiya! Came across a set of oxymorons.My fav- the 14th one.And if my grey cells are still tingling don't they teach you that one specifically in a B-School

1. Working Vacation
2. Exact Estimate
3. Honest Lawyer
4. Microsoft Works
5. Definite Maybe
6. Pretty Ugly
7. Terribly Pleased
8. Computer Security
9. Temporary Tax Increase
10. Taped Live
11. Clearly Misunderstood
12. Software Documentation
13. New Classic
14. Business Ethics

Mobile as Oracles

The ubiquitous mobile isn't about communications only but also about"knowing thyself" if the latest reports from MIT experiments is to be believed.From knowing how much sleep you had last week to how much money you spent on your girlfriend,the mobile seems to have captured the imagination with a lot of possibilities.Experiments are already on its way to study of work patterns of how employees in an organization work with the help of mobile phones.It could go a long way in putting an end to the evaluation metrics used by organizations,which may not have been the best indicator for knowing your people.Any takers!!

Back from my sabba!

It has been quite a lull since I have last written as perhaps my thoughts have reached a level of stagnation.Or perhaps circumstances plays a part in making it so.After all it is the environment which makes you to come out with new things and see the changes happening around you.Or should I better stop cribbing and do something useful..

Google into e-payment too!

The news of Google entering into e-payment business must be something of a news to most of us and it just makes me wonder what else it is going to be in next.This also raises the point of what would Google,the quintessential "search" site would start calling itself since it has staretd moving into the turfs of Microsoft(with its desktop search product) to e-bay(if e-pay starts).Its strange that e-bay ( it had acquired Paypal only sometime back with an astronomical sum) which is one of the biggest advertiser in Google would react to this news. Also Google would slowly start infringing into the territory of established players like Visa and Mastercard.Of course, it does make big business sense for Google to be in a business which would generate revenues for the e company whose revenues of over a billion till date has been dependent on entirely advertising revenues.But it would also face stiff competition in a field which already has a lot of established players.With e business picking up and broadband penetration opening up markets in countries like India and China,this space is going to be a hotly contested one in the coming years.Watch out this space for more.

India vs China -Software Story

The Mckinsey Study on China's Software Industry presents the finer point on where the industry stands right now and should silent people who is ever ready to jump into a discussion on India-China competition syndrome which has gripped the academecians and professionals alike.
The study shows that China's software industry is years behind that of India.Only 6 out of the top 30 IT services companies are CMM Level 4 or 5, whereas alomost all the top companies are certified in case of India.Also the top 10 IT Services company commands a market of only 20% compared to almost 50% in case of India.The industry needs a lot of consolidation and a proper industry body to support the growth.But the major problem in China still remains with piracy,where most of the software developed for domestic companies are available in the streets.
It is true that China has better infrastructure compared to India, but India boasts of superior human capital and processes,which is what drives any services industry.The industry also has better processes and a globally proved delivery model,it would indeed be years till China catch up with India.
Now did I hear the sceptics murmuring?

Isn't this the Future??

Did I tell you this is where the future of business is??

The elephant can really dance.Since realizing its mistakes and its near debacle in the 80's ,Big Blue have taken a lot of initiative to stay at the forefront of change.It emacipated Linux at a time when most of its peers were sceptical of the open source OS.It has since then reduced its costs by many folds.Looking at the viral nature of Blogs and the possibilities it presents,the company has taken the initiative to ask its internal employees of more than 300,000 to engage in internal branding for itself,if one would call it so.It's no wonder why Indian companies are not adopting such strategies on a corporate level to position their products which would expose them to a much bigger audience at an expense which would be negligible.The marketing and PR departments should explore the various possibilities available today to reach its target segment rather than sticking to the traditional way of doing things which is becoming obsolete anyway.Is anybody listening ??

Qwest VS Verizon

The recent Qwest Vs Verizon fiasco to obtain MCI has evoked interest in the financial and the M&A sector in a big way.The confusion of the shareholders of MCI and the fluctuating decisions of the board all added up to the interest of who would bag the once venerable telecommunications company,till it made news for all the wrong reasons.It is a positive step that MCI board has decided to stick to the revised Verizon's offer of $26.For every MCI share, Verizon's revised offer works out to $26, comprising $5.60 in cash plus the greater of either 0.5743 Verizon share or stock valued at $20.40. (A previous Verizon offer totaling $23.10 had raised a lot of eyebrows when Verizon paid $25.72 per share for more than 40 million shares owned by entities affiliated with MCI's largest shareholder, Carlos Slim.It seems the MCI shareholders would benefit from the prospect of rising of Verizon's stock prices in the long run if the deal goes through.Though,Qwest have brushed aside the deal calling it to be lopsided against the MCI shareholders,but it would definitely bring an end to the speculations surrounding the acqusition.

Only time would tell if the acqusition had really been successful from the MCI shareholders point of view.

Talent- Myth or Reality

Its nice to be back after a pretty long time though now as an employee rather than of a student.So have to check out for any controversial comments !!

Recently read Gladwell's "The Talent Myth" article which appeared in The New Yorker asometimes back.Gladwell in his mastery form of writing argues against the Talent myth grappling the boardrooms of America and for which the business is paying for very dearly.
This is an article which portrays his strong ire against the way consulting firms like Mckinsey works.Indian companies could learn a lot from the mistakes of the American Model of Talent Search and simply avoid following the American tail.

Read this article at:
http://www.gladwell.com/2002/2002_07_22_a_talent.htm

Value Chain Revamped

"One cannot control change, one has to stay ahead of it"
--- Peter Drucker


Today was the last day of our academic calendar and the entire campus was spread with a lot of emotions, as we would bid adieu to each other after staying as a family for almost for the last couple of years. Everyone was clicking photographs with their digital cameras or digicams, who could cherish these nostalgic moments in the future. Looking at all these events, an issue, which is the topic for our project today suddenly struck us, what would happen to those people who are at the periphery of such changes? The revolution of Digital Image Processing. This change would affect mostly the chemical based film technology businesses of those ubiquitous corner shop studios, who would have to change their business models faster than its competitor to survive in this changing landscape.


PHOTO SHOOTS----- DEVELOPMENT-----CUSTOMER (Previous Value Chain)

DEVELOPMENT----- CUSTOMER (Future Value Chain)


Any ideas are welcome..........