MTC Global

KNOWLEDGE IN PRACTICE

E-bulletin: Volume- 2 Issue- 3 (Jan – Mar 2011)

Message from the Chief Editor

Volume 1, Issue 1

ar
I take immense pleasure to release the third issue of our e-bulletin. The
first and second issue of e-bulletin were great success and earned lot of accolades across different walks of
life. It was very well received by all esteemed team members of MTC.

I sincerely acknowledge the support, encouragement and motivation extended by all the esteem members of
the team who contributed towards the growth of the consortium.

I am really grateful for the contribution made by all our team members. The restriction of page numbers
limited inclusion of all the articles. The articles submitted would definitely be placed in our subsequent issues.

Once again thanks a lot to all the team members of MTC for their continued support and encouragement.

Happy Knowledge Sharing.

Prof. Bholanath Dutta

Chief Editor: MTC Global- Knowledge in Practice
Founder & Convener: Management Teachers Consortium
Cell: +91 96323 18178
Homepage: http://groups.google.com/group/join_mtc
Group email: join_mtc@googlegroups.com

Achievement/Award/Appreciation

Prof. Manjunath from Adarsh College,

Bangalore has designed the logo for
SANKALP- 2011. Kudos!!

Dr. Siddharth Ghosh name included in the

Who's Who of the World 2010 edition of
Marquis Who's Who, New Jersey USA.

Prof. Deepak Yadav-CTO, MTC Global has

been awarded Young Scientist Award by MP
Government.
Struggling MFIs Searching Strategy For Sustainable
Survival
DR.S.N.Ghosal
Director: NICCO FINA
NCIAL Services Ltd., Kolkata
MFIs in India is passing through a critical phase and
undergoing rigorous testing time for their survival. It is
surprising for many as it was growing very fast and
earned a good reputation not only among the
beneficiaries but also in the financial world both in
capital market as well as among those who count-
politicians and public. It is indeed highly surprising
when the news spread that in Andhra Pradesh—Mecca
of MFIs—several farmers and artisans have committed
suicides because of atrocities of MFIs while
undertaking collection drive of their debts. MFIs have
been maintaining very high rate of repayment record
and none could guess even that the same is largely due
to such atrocious and coercive collection methods
pursued by them. In fact these institutions were
blossoming and most people –high and low—
considered that ultimately an appropriate institution
could be conceived for amelioration of poverty and
empowering the poor to earn their livelihood with
dignity and self help. Accordingly it also enabled the
state to pursue much desired inclusive economic
growth.
Apparent and Obvious Reasons
It is no doubt a great blow on MFIs and aftermath of
the same appears to be all the more disturbing as it is
obvious that it may be fatal as the continuation of MFIs
appearing to be doubtful day by day. Such sudden
change could not be only due to coercive collection
drive of MFIs but there appears to be some hidden
agenda of beaurocrats and politicians also as most of
them were unable to get any share of high profits these
institutions were earning as they could not build any
financial linkage with these institutions that perhaps
they have been enjoying in SHG model as envisaged
and pioneered by NABARD. There could be latent
desire to create road block for these institutions to help
growth of SHG model as there they have an assigned
role of intermediary in one form or the other and to
share the booty of funds disbursed to the members of
SHGs.
Handy-work of Bureaucrats and Politicians
It may not be a farfetched thinking that such a sudden
collapse of MFIs might also be handy work of bureaucrats
and politicians who joined hands with greedy promoters
of MFIs to make some fast buck by allowing it to grow
and earn usurious rate of interest and entering the capital
market with very highly rated and premium loaded shares.
In our country since time immemorial are known for their
constant efforts to grab every opportunity to exploit
gullible poor as well rich people without exception. This
is evident from the fact that so many funding institutions
have been constituted from time to time but none could
replace the mahajans despite their known methods of
exploitation and usurious rate of lending. So many
committees and commissions have been instituted to
conceive a suitable model of lending to the poor without
hurting them. Money lenders have been posing challenge
since time immemorial and attempts have been going on
since then by politicians and bureaucrats to find suitable
alternative. These attempts could be seen from conceiving
cooperative societies both regulated by the centre as well
as by the respective states and then came nationalization
of banks with the direction to lend to the poor even at the
rate of 4% interest and not being satisfied with the same
Regional Rural Banks were also conceived and formed
with centre, state and banks participation but the problem
remained and perhaps further enlarged due to rising
population and indifferent mindset as well as lack of
technology and infrastructure to outreach poor.
What has been Plaguing the Poor
It is a mystery that no one realized what exactly is
plaguing the poor. In this regard one may quote from
sociologist Bauman who wrote in 1999 that cash transfer
to the poor would remove the ‘awesome fly of insecurity
from the sweet ointment of freedom’. In fact such
understanding has propelled the politicians to provide
guaranteed living wage in most of the countries of the
world. But in India we have legislated for living wage and
also recently come out with a guaranteed earning scheme
called MGNAREGA but the delivery model is under the
grip of politicians and bureaucrats, the net result is
obviously just filling their own pockets rather than
outreaching the poor for whom these are conceptualized
and introduced.
Baumans’ Theory
Perhaps we may draw some lessons from the writings
of Zygmint Bauman who has long been regarded as one
of the World’s most influential sociologist—whose
enquiring mind has provided dynamic acceptable
arguments. That has impacted politicians to revisit their
policies and programmes to outreach poor. In this
regard his vision of community, his sensibility to
underdog and his awareness that the quality of society
and cohesion of community need to be measured not by
totals and averages but by the wellbeing of weakest
individual.
Underlying his theories is the idea that system groom
individuals and not vice versa. He has emphasized
ethics of work and not ethics of consumerism and that
too for each individual not just a group and or
community. He has rightly warned that our society is
sliding from this ideal as our bureaucrats and politicians
are more keen to pursue a policy that apparently suites
them to develop vote banks instead of developing a
community of responsible citizen. In his views an entire
modern political vocabulary has been emerging as a
smokescreen for hidden intention where social mobility
is just not possible as individuals are not in a position or
empowered to reach the position that they could have if
appropriately empowered by the state. In fact welfare
schemes are just a cover for an ugly spectre. Bauman
has further added today’s talk of social exclusion is an
extension of Schmitt’s dictum that most important act
of government is to identify its enemy and divert all
resources and energy to crush them. In this regard he
has rightly argued that murder of millions of Jews was
the result not the action of a group of bad people but of
a modern bureaucracy where subservience was prized
above all, where labyrinthine workings concealed the
outcomes of peoples’ action and where state imposed
order by harnessing a fear of strangers and even
outsiders. He has rightly emphasized that the task of the
state is to come to the rescue of individuals and that is
what most of the governments have lost sight of.
Real Reasons for the Downfall Of MFIs In India
This explains very vividly the reason for sudden spurt
of downfall of MFIs in India. MFIs have been charging
very high rate of interest under one pretext or the other
is not news and certainly not a cause for its recent
downfall. In fact it fell from the top of its glorified
performance because it was funding primarily
consumption needs and not helping individuals to generate
income with higher capability and competitive strength.
Another possible reason appears to be its higher earning
both due to net interest margin and also due to sudden
revelation of its market valuation from the sales SKS
equity. It is also extant creating conflict of interest for
most favoured scheme known as SHG.
Still Revival is Feasible
In any case MFIs still can rise from the ashes if it develops
a business model under PPP model where state banks,
MFIs, farmers, artisans and traders would be its
stakeholders and risk and management would be well
defined and shared by all of them. Further instead of
funding individuals they should develop projects on
cluster basis and ensure availability of modern technology
both in production, distribution and marketing. This would
help building modern farms and firms and would generate
high quality and higher output and that too with adequate
cover for all risks—market and nature. This is not
something utopian but most practical solution that could
be thought of. In fact already there are whispers to transfer
all loans to banks and MFIs could become correspondent
to banks and extend helping hands to banks to outreach
poor and provide universal financial accessibility.
Where Lies the Confusion
It has been very rightly pointed out by Arvind Panagariya
in his recent paper appearing in the Economic Times that
one of the key confusion (?) MFIs are meant for poverty
alleviation. He has further added that going by the
available scientific evidence and agreements among the
scholars to-date, there exist no compelling study linking
the expansion of microfinance to declining levels of
poverty. This is obvious as MFIs have been financing
consumption needs mostly and wherever they extended
loans for productive purposes that was not for improving
productivity, lowering the risk and or generating higher
income. It is therefore obvious that these institutions
though less usurious and less coercive than moneylenders
but it cannot be denied that these institutions just provided
easy way to banks to fulfill their priority sector
commitments and helping borrowers towards
consumerism which as has been highlighted above is not a
boon but bane to the society. It is therefore high time for
all to realize that one should revisit the business model
adopted by the MFIs in India and adopt the PPP model as
suggested above to reach the poor and become an
effective instrument for poverty alleviation and provide
universal financial accessibility, the dire need of the day.
 Circumstances Our effectiveness lies in anticipating the situations
Prof. Ramesh Vemuganti beforehand. Success in our workplaces lies in our
Principal Strategist: Chanakya Consulting, Hyderabad, ability to see the future, far ahead of others. The
Resource Person for National & International Conferences, future is about IMAGINATION &
Visiting Faculty for B-Schools / University. ANTICIPATION. This can be done by having
good lead times. Set aside half hour for next week’s
In our jobs, professions, businesses or personal schedule. Plan one week in advance for the coming
lives, most of the times things don’t work out the week. Remember, while planning, take into
way we plan or some hitches or glitches crop up consideration, all the unforeseen circumstances,
here & there .Then , we immediately blame the unwarranted developments, mood swings of
situation, fate or circumstances. Herein I am happy colleagues & boss, political turmoil, unsparing
to share a timely & inspiring quote by Sir George customers, front office communication gaps, Server
Bernard Shaw as follows being down, delayed back-office responses,
unscheduled visits by partners & associates,
People are always blaming their circumstances for supplier’s excuses for the delays ; even a sudden
what they are. I don't believe in circumstances. absence by an unpredictable colleague.
The people who get on in this world are the people
who get up and look for the circumstances they
want, and, if they can't find them, make them. ~ EXPECT THE UNEXPECTED. THIS IS WHAT
G.B. Shaw, Mrs. Warren's Profession, 1893. KALI YUGA IS ALL ABOUT. LET US CREATE
OUR OWN CIRCUMSTANCES. MAKE A
The message conveyed by the Nobel Prize winner BEGINNING AND START WORKING IN THAT
is that situations & circumstances will not be DIRECTION.
favourable almost 60 to 70 % of the times. Never
mind. THEN
Indifferent colleagues, unreasonable boss, silly
inefficient subordinates, non-cooperative family WHEN WE WALK INTO OUR OFFICE OR
members, cranky customers or unfaithful friends -- CLASSROOM IN THE MORNING OR GET
either some of them or all of them dominate each BACK HOME LATE EVENINGS, WE KNOW
day of our lives. Result is delayed projects, WHAT THE SITUATION OUT THERE IS. THIS
overshooting deadlines, cost overruns, penalty BOOSTS OUR PERFORMANCE
clauses - all this leading to an intense stress & SUBSTANTIALLY.
strain on the body. This is not desirable & we
should not allow it to happen. Young corporate
executives & IT professionals will be facing similar
situations in offices or homes.
 CONSISTANCY AND ENDURANCE- The keys to
mastering the World
Prof. S. Subramanian
Chairperson: MTC Global Advisory Board
Chairman on the Board of Directors, African Center
for Mobile Financial Inclusion (www.acmfi.org), Retd.
Senior RBI Executive and Ex Bank Director , Advisor
& Senior Management Consultant (BFSI) , Gradatim
IT Ventures India Ltd, World Bank Projects
Consultant / Lead, Resource Person for National &
International Conferences, Visiting Faculty for B-
Schools / University.
Believe in the impossible; imagine the unimaginable.
All of us have a purpose and it is our destiny to fulfill
it." says Barnabas Tiburtius, my close scholar friend-
a Coach, Guide and Mentor. Karnazes of Los
Angeles as a post-tawdler boy, began running home
from kindergarten not to burden his mother with rides
home every day..!! As days passedby and his active
intellect blossomed from twig to bud and to flowering
stages, Karnazes experimented running diversionary
routes that would extend his run and into uncharted
territory. By third grade he participated in regular
school and local community events, testing his limits
to stretching. By age eleven he ran rim-to-rim across
the Grand Canyon & climbed Mount Whitney, the
highest of a chain of mountains in USA. 12th
birthday, he cycled 40 miles to his grandparents'
home without telling his parents to create surprise
elements in his growth graph. Then he met coach &
mentor Bernard Emil Weik II, who introduced him to
long-distance running. "Go out hard and finish
harder.", his coach cum mentor egged him on.
Karnazes won the one-mile California Championship
held on the Mt SAC track. At the end of the race,
Weik commented: "Good work son, how'd it feel?" at
which Karnazes replied: "Well, going out hard was
the right thing to do. It felt pretty good." The coach hit
back, raising the bar, "If it felt good, you didn’t push
hard enough. It should hurt like hell." In 1976,
he joined the cross country team under Benner
Cummings, who theorized, '
Running is about finding your inner peace. Run with
your heart." Karnazes was awarded "Most
Inspirational" team member as he ran his first 6 hrs
endurance event, a fundraising run for
underprivileged children & raising a dollar a lap from
his sponsors, as it was the offer. While others
managed only 10-15 laps, he ran a stupendous 105.
2. Then a twist and catastrophy in the otherwise
smooth synopsis of sorts, occurred without which
it would interest none..!! An un-expected sudden
storm bull-dozed the relationship with his Coach
cum mentor. Not being compatible with his
Coach, he stopped running for 15 years. But,
basic intrinsic fire remained within like a fuming
but ' idle & dead ' volcano waiting to erupt
anytime. Karnazes resumed on his 30th birthday
with an impromptu all-night, 30-mile trek in his
innerwear and old
lawn-mowing shoes. He posted further
milestones but greater ones. Named one of GQ's
"Best Bodies of the Year" (GQ is the
‘Gentlemen’s Quarterly’ magazine in the USA),
he embarked on the well-publicized Endurance
50: 50 marathons in 50 states in 50
consecutive days. 8 of the 50 races were
conventional marathons. He overcame the
endurance and logistical difficulties & finished the
final New York City Marathon in 3 hours. He
weighed 154 lbs at the start and shed and burnt a
few calories to register 153 lbs at the end. Like
the greatest of Indian Cricketer, Master
Professionals, never lookup at their records, as
they just do not ' perform ' for records sake. Mere
numbers are for one-shot expert ordinary
mortals. Consistency, resilience and quality in
performance with ambition to scale ' Moons,
Suns and Stars ' come into play.
After finishing the 50/50/50, Karnazes decided to
run to San Francisco, his hometown from New
York City. He was expected to finish the trip in
January 2007. However Karnazes chose to end
this trek Dec.15, 2006, in St. Charles, Missouri, to
spend more time with his family. May be he had
devoted inadequate time to keep his other
relationships and external non-professional
engagements, which form a part of this mundane
chores.. Dean Karnazes was Time Magazine's
27th most Influential Person in the World and
ESPN's Outdoor Athlete of the Year.
" Is this not a great inspiration for the potential of
the human spirit? ", my friend Barnabas
ends up his mail to me with a query. I couldnot
agree less.
Management professionals and leaders must
ponder over resilience and quality factors, once
they are out of research Labs and step into shoes
of Practitioners. In my more than 4 decades in
Managerial positions, I ignored lesser mortals.
Consistency and endurance are the keys to
mastering the World, I strongly believe.
 Innovations in Health Care Delivery
By
Brig (Dr) Paramjit Singh Dhot, VSM
MD (Path), Post Doctoral Fellow in Haematology
(AIIMS, New Delhi), FRSH (London), MCHS
(Toronto), FISHTM, Past President - Indian Society
of Haematology and Transfusion Medicine (2002-
2003), Past President - Delhi Society of
Haematology (2003-2005), Chief of Laboratory
Services, Senior Consultant ,
Haematology,Transfusion Medicine, Clinical
Pathology, Apollo Bramwell Hospital , Moka,
Mauritius, Phone: 00 230 2510487 (Mobile),
00 2306051000 (Office) Ext: 3613
E-Mail: pamidhot@gmail.com
Today, I believe more than ever that only the
innovated redesign of health care's clinical and
administrative processes will deliver lower costs
and improved safety. Secondly health insurance
for the poor in developing countries will make a
sea change in the fight against ill health and
poverty.
Firstly, during an average four day hospital stay, a
patient sees twenty four different clinicians and
administrators; when a physician places an order
for medications in a hospital, there are fifteen steps
between when that order is given and when the
medication reaches the patient's bedside - all
opportunities for error. And this complexity
happens within a single health care delivery
organization. When multiple physicians, clinics,
hospitals - and insurance companies - are involved
in the care of a patient, the complexity can be
overwhelming, both for the patient and clinicians.
The case for action for innovation in health care
delivery can easily be made alone on the basis of
lowering costs and improving safety. It's time for
health care professionals to innovate their work.
No angel of government can or should do it for
them.
Secondly, throughout the world, countries at all levels
of economic development and with all types of political
systems have embarked in a creative search for the
elusive goal of universal coverage. From Mauritius,
China, and Ghana to the USA and India, novel ways to
confront the health challenges of the 21st century are
being designed and put to the test. Let us take the
example of Mexico.
Mexico had an early start in the current generation of
health reform initiatives. A major effort launched in
2003 will provide health insurance to everyone before
the end of this year. Previously uninsured families can
now enroll in a new public scheme called Seguro
Popular, which guarantees access to over two hundred
and fifty medical interventions and the respective
drugs. These interventions include all services
provided in ambulatory clinics and general hospitals.
Seguro Popular also covers a package of eighteen
expensive interventions, including treatment for cancer
in children, HIV/AIDS, and cervical and breast cancer.
Seguro Popular has elicited an enthusiastic response
from the population. By December of 2010, 40 million
people were enrolled in it, and the country is on track to
achieving the goal of universal coverage this year.
Social protection mechanisms for health liberate
resources which families previously tended to invest in
health care. These resources can now be used to meet
other basic needs, such as nutrition and education.
Finally, a properly working social protection system
contributes to health gains, and as recent economic
research has demonstrated, good health improves
educational performance, increases labor productivity,
enhances the investment climate and, by doing all
these things, stimulates economic growth, which, in a
virtuous circle, in turn improves population health and
overall productivity.
 The Science of Education – A non-mechanistic
Perspective
By
Prof. Jayanti Ranganathan Chavan
Founder President,
Institute of Science and Religion, Navi Mumbai
(An international journal ‘Sutra’ A quarterly
journal for research on Education, Psychology,
Traditional Sciences and Systems, Health and
Consciousness was released during the World
Education Culture Congress Jan. 2011, Delhi
organized by Shruti Foundation, UNESCO, British
Council, Indian Council for Cultural
Relations(ICCR) and Nehru Memorial Museum
and Library. It had delegates from 40 countries.
The journal selected only 10 articles from more
than 100 invited scholarly papers and my article
titled, “Rebuilding Modern Education –
Perspectives from Traditional Knowledge systems”
was one among 10 selected for publication. The
paper was presented in the form of seminar during
the congress).
The following article is abridged version of the
published paper.
Education always has had a huge meaning in our
life, seen as a driving force behind our life’s
success albeit what was perceived as life’s success
in the past is totally different from today.
During our rich ancient era the rationale of
education was in tune with its etymology.
Education stems from the Latin word educere; ‘e’
means ‘out’, and ‘ducere’ means to ‘lead, draw or
bring.’ So education means to lead, draw or bring
out. Ideally the purpose of education will be to lead
one out of the darkness of transient consciousness,
i.e. to bring out the pristine self, from its lower
level or animal consciousness, and bring it to the
light of knowledge towards divinity. And this was
considered as life’s success in the past.
For several centuries the education system in India
was based on balancing scientific temper and
spiritual wisdom. The confluence of several eastern
traditions in the Indian soil was one of the beacons
to impart value education. Among these, primarily
the traditional wisdom based on Vedic knowledge
provided direction for every action based on
preyas(immediate beneficial) and sreyas(ultimate
beneficial) and a deeper understanding of life.
Overall the complete education was a roadmap
towards fulfillment of life’s purpose while taking
care of economic necessities and happiness
quotient. As it was life oriented and related with
purpose of living it naturally instilled dignity and
respect for life in the learner as well as teacher.
There was individual responsibility undertaken to
pursue education within one’s full capacity. Stress
before exams, depression after result declaration
and lifestyle disorders were unheard of in the
education system based on traditional knowledge,
plus the quality of education was very high. Pre-
Independence, a matriculate was competent and
eligible to run a high school. His mental and
physical health was sound. His life was based on
simplified living. It was a selfless act of service and
sharing knowledge for a higher cause with meager
salary.
Post-independence, under the impact of industrial
revolution and lately with advancement of science
and technology the education system in India has
undergone changes in leaps and bounds. While
technology has had its positive impact, it has had
its downside too. Today the education sector is
multifaceted and fragmented and incomplete. It is
difficult to ascertain the exact goal of education as
it is primarily seen as a means to earn a good
living. Besides, an educated person is identified by
his scholastic ability, setting aside if his/her
personality and actions on the whole reflect the
‘Wisdom’ gained through education. The word,
‘Scam’ which was associated with corrupt business
enterprises is gradually finding place today in the
education sector too. The student community is
subsequently failing to grow as responsible citizens
of the country.
Today’s education is frequently marked by changes
at regular intervals in tune with benefits provided
by revolutionized science and technology. Besides,
within these changes is also embed the mechanistic
temperament of technology taking us far from
significance of life and our responsibility in this
cosmos, gradually progressing towards collapse of
sane human values. Most importantly the teachers
and students are the direct affected limbs of this
education system.
It is painful to see school children and students,
under the influence of contextual ranks and
recognition, are facing shallow challenges and
chasing stressful targets, affecting their psycho-
physical nature badly. The education which is
facilitating the above is failing to deliberate on its
real purpose. Excellent Infrastructures in the guise
of computer and internet training are driving young
students and children towards unethical culture.
Gen X especially in 20’s and 30’s even after
receiving top education are becoming victim of
quarter life crisis. They are in a hurry to achieve the
happiness quotient based on money, comfort and
luxury, but unfortunately becoming victim of
adjustment disorder.
Teachers are under constant pressure to update
their knowledge and skills. Instead of undergoing
internal positive transformation, the extra effort is
having a negative impact in their mindset with
regard to profession. What started as a passion and
loving profession now brings stress in their life.
This temperament has natural implications in their
productivity as well as in the student teacher
relationship.
This only speaks about the impact of fragmented
mechanistic knowledge on the consciousness of a
teacher. Overall, our life’s growth finds no
expression in innovative pedagogy of revised
educational curriculum that is based on
commercial, objective and mechanistic principles.
We need to ask if the etymology of education can
change in the pretext of technology or
globalization. If yes, then we need to redefine
human personality as well as human civilization.
The Vedic tradition specifically teaches us the
strength of enlightened human culture as an
indicator for human development and education as
a primary facilitator. By definition, education not
only fosters growth of consciousness but acts as a
vital tool to solve the problems of life.
It is high time, Indian educationists make a
critically study of modern education’s lopsided
growth, and take guidelines from traditional
knowledge systems and re-capture the purpose of
education and integrate it with current education to
make it complete. This can prevent young literate
India from becoming victim of lower consciousness
while simultaneously improving employability
factor and thus set an example for the rest of the
world. Failing to check the imbalances of the
modern incomplete education system can give rise
to so called literate population influenced by
animal passions inhibiting the progress of human
civilization.
Survival of the Fittest ‘Entrepreneurial’ The decision to quit a stable job and start a new
B-School company needs a lot of courage and risk taking
ability for which the students need to be inspired.
Involving alumni entrepreneurs and other
By successful business personalities in the course
curriculum and facilitating their interaction with
Prof. Dr. Siddhartha Ghosh students will help the students to find their role
model and then they will begin to view
Assistant Professor, Editor & Programme Convener, entrepreneurship as a valuable career option.
Asian School of Business Management, Bhubaneswar,
Chapter Head – Bhubaneswar, MTC Global, National
Diversity in a class leads to exchange of whole lot
President & International Director, CCLP Worldwide
of new ideas and this may help in developing
independent thinkers who do not just want to work
Today management education particularly in the
as employee managers but to be creative and
Indian sub-continent is among the most happening
develop something new. There is a need to create a
industries. The competition flu is affecting anybody
separate academic department for entrepreneurship
and everybody and b-schools are not exceptions.
and introduce a number of relevant courses in that
Everyday out of the blue, the MBA factories are
area. The potential students should be trained on
conceiving and developing new strategies for
hard and soft skills of entrepreneurship.
survival, growth and dominance. Undoubtedly, its a
age-old fact that recession or no recession, the
Indian job market has always been bullish. With the emergence of Venture Capitalists (VCs),
government R & D institutions, op B-schools seek
out the entrepreneurial spirit among the young
In the present fragile economy, it becomes more
students. Some of the top b-school graduates have
relevant for the management varsities to have the
started turning down plum posts and packages and
'locus of control' on multiplication and not addition,
are venturing out on their own.
viz. entrepreneurship in lieu of the conventional
one-to-one students placements.
The current economic crisis has also led students to
think out-of-the-box by establishing start-up firms -
Its high time now that the B-schools should take
a common phenomena in the western world. Many
initiatives towards grooming wealth creators rather
entrepreneurs feel that the time now is ripe to
than creating job seekers. They need to stop
initiate new ventures as enthusiasts have the time to
bragging and competing about the average salaries
think about innovations and even evaluate the
their students are commanding and start to teach
viability of it further.
and encourage them about the values of wealth
creation and entrepreneurship. They should start
celebrating their alumni of entrepreneurs and make
them involved in the process of grooming new
entrepreneurs of their students.
The leading national b-schools are taking initiatives Some institutes have introduced innovative ideas to
to encourage entrepreneurship amongst the encourage entrepreneurship. IMT Ghaziabad has a
students. Some of them are: - students' committee which collects funds and
invests them on behalf of the contributing students.
• Asian School of Business Management It then tracks the stock market and gives monthly
Bhubaneswar has launched an independent update to the investors i.e., the students, thus
entrepreneurship cell with Government of explaining the working of the stock market to them
India sponsorship. and encouraging them to invest, take risk and earn
• Centre for Entrepreneurship (CFE) set up their own money showing them ways towards
by MDI, Gurgaon. entrepreneurship.
• Organizing training, workshops, and
conferences on entrepreneurship. With the passage of time and with sheer hard work,
• Involving and networking with different these pioneering Indian educational establishments
channels for entrepreneurship development can create a benchmark for the B-School industry
like NEN (National Entrepreneurship and may be at some point of their life-cycle, they
Network) and research organizations. can be compared (if not compete) with their
• Mentoring and providing helping hand to western counterparts.
the aspiring students through faculty,
research organizations, government
agencies and alumni entrepreneurs.
• One of the most innovative ideas to attract
students for taking the risk to start their
own venture is having a deferred placement
policy in the institutes. Since uncertainty
discourages the students from taking risk
and venturing on their own, this deferred
placement policy helps the students to have
two years in their hand to choose their
desired path but can always come back if
they fail to make a mark. XLRI
Jamshedpur is one of the institutes
providing such facility to students.
• IIMs and other prominent B-Schools have
set up separate entrepreneurial centers for
fostering and developing innovation-based
entrepreneurship. These centers act as an
incubator cell for start-up companies
besides providing support and mentoring.
These centers are already having quite a
few start-up companies to their credit.
Some of such centers are CIIE (Centre for
Innovation, Incubation and
Entrepreneurship - set up by IIM
Ahmedabad), NSRCEL (Nadathur S
Raghavan Centre for Entrepreneurial
Learning - set up by IIM Bangalore).
 Author: Sri Joydip- Management
Guru, Publisher- Lulu, ISBN#:
978-1-4583-5408-2

MTC Global Annual

Convention: SANKALP-
2011 at Hyderabad on 27-
28 Aug 2011.

ISBN-13: 978-3-8383-7757-5
Book language: English
Publishing house: LAP LAMBERT
Academic Publishing, Germany
By (author) : Dr. Sudhanshu Joshi
Published at: 2011-01-21
Price: 49.00 €
 MTC GLOBAL—CHPATER MEET
DETAILS

Sl. Coordinator Chapter Date

No
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1. Mr. Ketan Gandhi (Advisory Board Pune 26.12.2010
Members &
Prof. T Jatin ( Chapter Head)
2. Prof. T Ravi Kumar (Chapter Head) Chennai 08.01.2011
3. Dr. Arup Barman North East 12.01.2011

5. Dr. Aravind S. UN 01/01/2011

Professor International Meeting Theme: Issues in Management
Mekelle University Center, Education with specific to Africa and
Ethiopia. Hawalti, Asia
(Core Committee Member) Mekelle,
Ethiopia.

6. Mr. Ram Katla- Chapter Head: Hyderabad Hyderabad 22.01.2011

8. Mr. Joydip Kolkata + 08.01.2011
Chairperson- Core Committee Burdwan
Dr. Biswajit- Chapter Head- Kolkata
Prof Samim- Chapter Head: Burdwan
9. Dr. Siddhartha Ghosh- Chapter Head- Bhubaneswar 16.01.2011
Bhubaneswar
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Research and Publication Initiative

MTC Global Chennai Chapter is coming out with a Journal named “MTC Global” Journal of
Entrepreneurship & Management” under the leadership of Prof. Ravi, Chapter Head: Chennai
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Business Review” under the leadership of Dr. Sudhanshu Joshi, Chapter Head: Dehradun.
MTC Global is coming out with a book “Management of Management Department : Tools &
Techniques” under the leadership of Prof. Bholanath Dutta, Founder & Convener: MTC Global

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