13th Annual Management Convention

NOIDA MANAGEMENT ASSOCIATION

13th Annual Management Convention
“Post Recession Scenario – Challenges Ahead”

GINNI FILAMENTS LTD.

With Best Compliments from

The Souvenir Committee
Shri Sanjiv Tandan - Chairman
Wg. Cdr. R. S. Shukla (Retd.)
Wg. Cdr. H. L. Nagpal (Retd.)
Shri K. D. Batra
Shri B. S. Mehta

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 13th Annual Management Convention

Contents
Noida Management Association - Sponsors ......................................................................... 1

Contents ................................................................................................................................ 2

Our Special Thanks................................................................................................................ 3

Our Vision / Our Mission - Founder Members`....................................................................... 4

NMA Executive Committee..................................................................................................... 5

Annual Convention Committees............................................................................................. 6

Our Facilitators & Well Wishers ............................................................................................. 7

From the Editor's Desk ........................................................................................................... 8

Messages ............................................................................................................................... 9-13

Extract from Budget Speech 2010-11 presented by Hon'ble Finance Minister ................... 14

Trust Me: Credible Leadership Delivers Results..................................................................... 15-17

by Dougles J. Matthews; Courtesy - R. K. Chandra

Five Myths About India; Courtesy - A. I. Sundararajan.......................................................... 18-19

International Financial Reporting Standard (IFRS): ................................................................ 20-21

Convergence by India - S. Singhvi

Evolving Business Models for Sustained Growth.................................................................... 22-23

Sanjiv Tandan & Shikha Gulati

Mail sent by Narayan Murthy to all Infosys staff .................................................................... 24-25

Post - Recession Toolbox: Five Ways to keep your................................................................. 26-27

People on Board - S. K. Tomer

List of Important Management Programmes Since Last Management Convention ............... 28

Our Activity at a Glance - A Photo Session ............................................................................. 29-33

Executive Committee Member (Photos).................................................................................. 34-35

Welcome to New NMA Members ............................................................................................ 37-39

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OUR SPECIAL THANKS

President and all members of Noida Management

Association would like to place on record their
gratitude to the following organizations who made
generous contributions during 2009-2010 to enable
NMA to realize its dreams:-

Power Grid Corporation of India Ltd

ONGC Ltd.
NTPC Ltd.
Indian Oil Corporation Ltd.
SAIL
GAIL
Subros
Seth Anand Ram Jaipuria Education Society

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OUR VISION

"To be an Institution for facilitating Management Excellence"

OUR MISSION
• To facilitate the organizations in Noida/Greater Noida for achieving excellence in industry,
service sectors & trading to make it globally competitive.

• To be a change medium for Individuals, Organizations and the Society.

• To maintain a financially Strong, Ethical Growth - Oriented association, providing an Enjoyable

environment to its members, as well as to its employees."

OUR FOUNDER MEMBERS

S. No. Name Address
1 Mr. A. C. Jain A-48, Sector-5, Noida-201301
2 Mr. S. Kumar F-28, Sector-22, Noida-201301
3 Brig. S. V. S. Choudhary 410, Sector-29, Arun Vihar, Noida-201301
4 Mr. V. Dwivedi C-469, Sector-19, Noida-201301
5 Mr. S. S. Verma G-63, Sector-56, Noida-201301
6 Brig. V.K. Ahuja 1219, Sector-37, Noida-201301
7 Mr. Raveen Negi 2520, Sec-D, Pkt.-II, Vasant Kunj, New Delhi-110030
8 Mr. N. K. Dhooper KD/25/19, Kavi Nagar, Ghaziabad
9 Mr. V.K. Singhal C-5-10, SDA, New Delhi-110006
10 Brig. B. M. Kapoor 1127, Sector-37, Noida-201301

PAST PRESIDENTS

1. Shri Adesh Jain 1989-92

2. Shri V. J. Prakash 1993-95
3. Shri S. C. Kulshrestha 1996-97
4. Wg. Cdr. R. S. Shukla 1998-99
5. Shri Alok Agrawal 1999-01
6. Mrs. B. Shukla 2001-03
7. Shri H. K. Garg 2003-04
8. Shri A. C. Chaturvedi 2004-05
9. Shri M. K. Rustagi 2006-07
10. Dr. J. D. Singh 2007-09

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NMA EXECUTIVE COMMITTEE

President Sr. Vice President Vice President Hony. Secretary

Mr. Dinesh Jain Mr. K. P. Verma Mr. S. K. Tomer Mr. Sanjiv Tandan
9810357042 9818212486 9810153917 9818241191

Hony Treasurer Hony. Jt. Secretary Imm. Past President

Shri R. D. Keshri Mr. Kaushik Chatterjee Dr. J. D. Singh
9868390599 9313039347 9811152765

MEMBERS
Shri Manoj Dembla Mr. Om Prakash Gupta Wg. Cdr. Bhupendra Renjen (Retd.)
9811100033 9818046203 9899966124

Wg. Cdr. H. L. Nagpal (Retd.) Mr. Avanindra Yadav Mr. V. S. Gupta

9810453745 9891321713 9971366229

CO-OPTED MEMBERS
Mr. S. N. Singh Dr. C. S. Nagpal Mr. Atul Kumar Jain Mr. V. K. Chaudhri
9810357077 9971483636 9810057944 9873013377

Bharat Singh Mehta Mr. P. J. Methew

9810003707 9650993003

NMA SECRETARIAT

Executive Secretary Executive Staff Executive Staff

Mr. A. I. Sundararajan Mr. Amit Prakash Mr. Sunder Singh
9810469109 9910645457 9953559806

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List of Important Management Programmes held since

Last Management Convention in March 2009
At NMA House, C 20/6A, Sector 62, Noida
1. 12th Annual Management Convention "Global Meltdown- Opportunities and Challenges for Indian Corporates"
Friday, 20th March 2009

2. Annual General Body Meeting

Saturday, 28th March 2009.

3. Get together with Corporates and NMA Members

Saturday, 2nd May, 2009

4. Evening Lecture on "Employment Opportunities in Service Sector - Health Care Sector"

Friday, 15th May 2009

5. Two day Programme on "Managerial Excellence" in Association with Knowledge Exchange Centre
Friday & Saturday, 12 & 13 June, 2009.

6. Evening Lecture on "Union Budget' 2009

Saturday, 11th July, 2009.

7. Two Day Programme on "Corporate Governance & Business Ethics in association with HRD Foundation Delhi
Thursday & Friday, 3rd and 4th September, 2009.

8. Evening Lecture on "Relevance of Judaism in 21st Century- Ethics in Modern Management"

Saturday, 19th September 2009.

9. One day programme on "Labour Laws, with latest amendments & Supreme Court Rulings"
Wednesday, 30th September, 2009.

10. Evening Lecture on "Stress Free Living - A Holistic Approach"

Friday, 30th October 2009

11. Extra Ordinary General Body Meeting

Thursday, 19th November 2009

12. Evening Lecture on "Discussing Latest HR Issues"

Thursday, 19th November 2009

13. "Feeding the poor" programme by NMA

Sunday, 29th November 2009

14. Evening Lecture on "Double your Memory"

Friday, 18th December 2009

15. Two Day Workshop cum Training Porgramme on "Municipal Solid Waste & Plastic Waste Management" in
association with HRD Foundation Delhi, sponsored by Ministry of Environment & Forests and supported by UP
Pollution Control Board.
Wednesday & Thursday, 6th & 7th January 2010

16. Evening lecture on "Future of Manufacturing"

Friday, 22nd January 2010

17. Industry Meet with Mr. Surinder Singh Nagar, Hon. Member Of Parliament, Noida Constituency
Monday, 25th January 2010

18. One day training programme on "Corporate Events-Empowering Organization"

Wednesday, 10th February 2010

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OUR FACILITATORS & WELL WISHERS-2000-2010

1. NTPC Ltd
2. Power Grid Corporation Ltd.
3. Oil India
4. Uflex Ltd.
5. Control & Switch Gear Group Ltd.
6. Shri Rajiv Shukla & Wg. Cdr. R. S. Shukla (Retd.)
7. ONGC
8. GAIL
9. Noida Authority
10. Seth Anand Ram Jaipuria Education Society
11. IOC
12. Amity Business School
13. Toshiba & its utilities Pvt. Ltd.
14. Power Finance Corporation Ltd.
15. NHPC Ltd.
16. SAIL
17. KRIBHCO
18. Subros
19. Omaxe
20. Kailash Hospital & Health Care
21. Hind Industries Ltd.
22. Haldiram Snacks Pvt. Ltd.
23. BHEL

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From the Editor's Desk

After the gloom, comes the sunshine-Though the country reported a

GDP of 6.8 percent in 2009, the economy lit up with the country's
industrial production growing by 10.4 percent the highest in the past 22
months in the year preceding December 2009. With manufacturing and
services sector showing upward trends in the first half of 2009-10 and
expected growth rate of 7.5 percent in the current financial year it seems
that good day will be round the corner. The figures indeed give indication
of better times ahead and indicates a slow yet steady pick up in demand
which is likely to gain momentum in the coming months.
Most of the Articles in the souvenir have dealt with our theme 'Post Recession Scenario- The
Challenges ahead' They have discussed the possible opportunities which can be
channelised to improve the economy. Everyone is convinced that by taking cautious steps
in banking regulations and keeping low dependency on exports, economy was somewhere
able to circumvent the serious effects of the crisis. Innovative ideas are being adopted by
business enterprises where focus is to take cost effective measures to harness resources in
the best possible manner. By utilising synergies of merger and acquisitions many, JV's
enterprises are able to improve their revenues and valuation.
Today, we also see government focus shifting to MSMEs sector, reason being the huge
hidden potential which if properly carried out can turn up as one of the key drivers to improve
economic growth. MSME sector contributes to around 45 percent of industrial production,
40 percent of the total exports, and provides huge employment opportunities. This has been
explained in detail in the article Evolving Business Models for sustained growth.
As the editor and on behalf of Noida Management Association I would like to express my
gratitude to all the donors, advertisers, authors and well wishers for their liberal support in
bringing out this souvenir. A special thanks to all members of Souvenir Committee, specially
Wg. Cdr. R. S. Shukla and Mr A. I. Sundarajan, for their prolific contribution for making
souvenir a success.
Trust you will find the articles very informative as they provide insight about the areas which
require due consideration in the context of the present economic scenario. I lastly do
support the Noida Management Association in its efforts to be an institution for facilitating
management excellence of professionals based in Noida and Greater Noida in whatever
capacity you can.

Sanjiv Tandan
Editor and Hony. Secretary, Noida Management Association.

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P. Harish
Joint Secretary & Officer on Special Duty
To the Vice President of India
New Delhi-110011

Message
Hon'ble Vice President of India is happy to know that the Noida Management Association is
organizing its 13th Annual Management Convention on the theme 'Post Recession
Scenario ­ Challenges Ahead' on 5th March, 2010 and publishing a Souvenir on this
occasion.
Vice President of India extends his greetings and good wishes to the organizers and the
participants and wishes the Convention and the souvenir all success.

P. Harish

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Nakul Dubey
Minister of Urban Development,
Environment, Commercial & Entertainment Tax
Government of Uttar Pradesh

Message
I am happy to know that Noida Management Association is organizing its 13th Annual
Management Convention on the theme "Post Recession Scenario Challenges Ahead" on
5th March 2010.

I extend my heartiest greetings and good wishes to the organizers and the participants and
wish the Convention all Success.

Nakul Dubey

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Dinesh Rai
I.A.S.
Secretary to the Government of India
Ministry of Micro, Small and Medium Enterprises,
Udyog Bhawan, New Delhi-110011

Message
It gives me great pleasure to know that the Noida Management Association is organising the
13th Annual Management Convention on 'Post Recession Scenario - Challenges Ahead'. .
The MSME,sector contributes to about 45% of the total manufactured output and nearly 40% to
India-s exports. As per the quick estimates of the 4th All India Census of MSMEs, there are
about 26 million MSMEs in the country, providing employment to about 60 million persons.
Further, the sector has been consistently registering higher growth rates than the overall
manufacturing sector, thus demonstrating the high degree of resilience and adaptability.
The MSMEs are facing new challenges. The need of the hour is to suitably strengthen the
sector so that it can face the challenges boldly and effectively. It has been a constant endeavour
of this Ministry to help the MSMEs. In order to promote and develop this sector in India, the
programmes of the Ministry of MSME inter-alia focus on enhancement of productivity and
introduction of better technology and processes in the micro, small and medium enterprises.
I would like to congratulate the Noida Management Association on this occasion. I wish it
success in all its endeavours.

Dinesh Rai

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I, on behalf of AIMA, take this opportunity to extend my good wishes on the occasion of the
13th Annual Management Convention of Noida Management Association. The theme of the
Convention is indeed relevant to the economic scenario we face today. "Post Recession
Scenario - Challenges Ahead ".

Managers all over the world today are facing the challenge of ensuring that enterprises
continue on the path of growth in a sustainable manner despite multiple challenges posed
by the economic situation of the moment. This Convention will greatly help in enhancing the
expertise and professionalism of managers working in different industries and service
organizations. The Convention will deliberate on addressing those challenges that are
confronting the economy as well as businesses. I have no doubt that this event organised by
Noida Management Association, one of our most active Local Management Associations,
will be a successful and significant one.

On this occasion I wish to felicitate the Noida Management Association, its office bearers
and member community - both individuals and corporate and congratulate them on the
initiatives taken and send my best wishes for a fruitful and dynamic Convention.

Sanjiv Goenka

President AIMA & Vice Chairman RPG Enterprises

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Message from the President

During the year 2008-2009, the global economy seemed headed for a long
depression as more and more financial transgressions came to light everyday.
Companies were closing down and jobs were being lost across the board. One
year later, hope has rebounded. The world economy seems to be limping its
way out of trouble, while India is expecting to close the financial year with 8 per
cent growth in GDP. Talk to anyone in any sector of the economy, and you will
be struck by the sheer optimism they exhibit. More importantly, there will be
significant and defining trends that will shape the economy and different
sectors. Gearing up for the future, we have the key success factors necessary to withstand the
winds of change.

As India continues to attract the attention of the world, it is our endeavor to develop Indian industry
and to ensure that government and society as a whole, understand both the needs of industry and
its contribution to the nation's well being. For this NMA has worked towards providing up-to-date
information to industry, identifying and addressing the needs of the small sector to make them more
competitive

"To embark on a journey of success one needs the tools of preparedness, foresight and strategy.
These lead to the path of growth and high quality operation". Realizing the responsibility on the
shoulders of each member of NMA, we have conducted many, social welfare programs, focused
training programs highly beneficial for various industries and Individuals.

It gives me immense pleasure to welcome you to participate in its flagship event - 13th Annual
Management Convention - "Post Recession Scenario - Challenges Ahead"

We have very ambitious plans for the coming year to take NMA to new global heights and provide a
common platform for interaction between different Industries, leading professionals and institutions
& students at large. Our aim is to be the best association and to have our presence everywhere.
With your valued support & contribution we are confident to achieve and fulfill our dreams.

I look forward to welcoming you to join and contribute to our journey towards exploring new frontiers
in global business environment.

Dinesh Jain
President NMA

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EVOLVING BUSINESS MODELS FOR SUSTAINED GROWTH

Sanjeev Tandan & Shikha Gulati

Introduction move allows it to increase its IT

If history is a reflection of what can be achieved, then infrastructure without increasing
these economic turning points are responsible for its internal IT departments
creating many of the world's multibillion-dollar consequently increased fixed cost
corporations, such as Disney and Microsoft. as it builds on a decision to unify its
Generally speaking, operating costs tend to be brands worldwide under the
cheaper, talent is easier to find because of Panasonic name. The deal is set to
widespread unemployment and competition is be a good example of "Strategic
usually less fierce. Further, most companies focus on Right-Sourcing".
improving products, services, and processes Government is also following foot-steps of private
internally and for customers during recession. sector while enabling itself to work with new
Ideally, the creative thinking that's needed to weather technologies. It had launched a Government-
the storm of an economic downturn can lead to new subsidize project State Wide Area Network (SWAN)
markets and revenue streams. in 2005 to increase its efficiency. When the SWAN
As the global economy begins to pull out of one of the project is completed, government offices in each of
most severe recessions in several decades, India's 29 states and six union territories will be
businesses face the challenges of reviving demand, connected and able to support National e-
maintaining cash flows and creating jobs. With US Governance Plan (NEGP) initiatives for government-
registering a growth of 5.7% in Q4 and UK registering to-government and government-to-consumer
a growth of 0.1%, the global economy is experiencing services. Implementation of SWAN Scheme is in full
a turn around and increase in industrial output. While swing across the country and has been successfully
India has shown resilience during this period, the key implemented in 10 states so far.
to growth for Indian businesses will be evolving and Regulatory Stimulus to support growth
innovating business models and strategies for
volume supported growth. A key challenge facing the Indian businesses today is
the regulatory regime of India and the uncertainty on
Innovations: Growth Enablers world policies such as restrictions of capital inflows in
Technology and innovation in processes, products, the short-term, possible exit by US banks from Indian
and services now can help to curb costs or take risks economy and inconsistent Government agenda. A
on fresh ideas when the economy rebounds. recent example of this inconsistency in policies is the
Indian 3G auction in which foreign telecom
A relevant example is cloud computing which is a companies are not allowed to participate. Another
general term for anything that involves delivering example of such delays is introduction of Goods &
hosted services over the Internet. These services are Service Tax (GST). GST was scheduled to
broadly divided into three categories: Infrastructure- implement from April 1, 2010.
as-a-Service (IaaS), Platform-as-a-Service (PaaS)
and Software-as-a-Service (SaaS). A cloud service However, the government has started addressing
has three distinct characteristics that differentiate it these issues by taking adequate measures such as
from traditional hosting. It is sold on demand, initiatives to provide support to MSME (Micro, Small
typically by the minute or the hour; it is elastic -- a user & Medium Enterprises) sector. There are about 13
can have as much or as little of a service as they want million MSME units in the country which employ over
at any given time thus controlling the cost factor; and 42 million people. The sector contributes over 45 per
it is fully managed by the provider (the consumer cent to the country's industrial production and 40 per
needs nothing but a personal computer and Internet cent to the total exports. The Ministry of Micro, Small
access). and Medium Enterprises (MoMSME) promotes the
development of micro and small enterprises in the
The recent IBM-Panasonic deal is the largest country with the objective of creating self-
enterprise cloud-computing deployment ever, employment opportunities and upgrading the
involving support of 100,000 Panasonic workers that relevant skills of existing and potential
will eventually expand to more than 300,000 users, entrepreneurs. The MSME sector can avail of many
including partners and suppliers. Panasonic said the schemes namely:

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• Scheme of Fund for Regeneration of Traditional effectiveness. One of the counter-strategies used by
Industries businesses is outsourcing / franchisees. Outsourcing
• Scheme of Survey, Study and Policy Research services gives the benefits like concentration on
• Marketing Assistance Scheme core-business areas, world-class technology at
• Performance and Credit Rating Scheme lower rates, skilled manpower at reasonable prices
• Product Development, Design Intervention and and increased productivity. Another strategy used by
Packaging companies is to develop innovative business
• Interest Subsidy Eligibility Certification streams that focus on the optimum utilization of
• Micro & Small Enterprises Cluster Develop- resources and technologies beating competition and
ment Programme (MSE-CDP) generating revenues. Recently, Google India has
• Scheme for Capacity Building signed a deal with IPL for 2 year web rights for
• Credit Guarantee Scheme YouTube. Worldwide, this is the first major sporting
• Scheme of Micro Finance Programme
event to be live-streamed on YouTube and as part of
• National Manufacturing Competitiveness
the deal, YouTube will also offer users an exclusive
Programme Schemes.
unique feed not available on any other media
One of the obstacles faced by SME's is still not platform of all IPL matches. Companies are also
completely abolished "Licence Raj'. Licence Raj aiming at an inclusive growth which implies an
refers to the elaborate licenses, regulations and the equitable allocation of resources with benefits
accompanying red tape that were required to set up accruing to every section of the society. A major basis
and run businesses in India. The government of of inclusive growth is to ensure the benefits and fruits
India initiated a liberalization policy and the "License of growth reaches to the bottom of the socio-
Raj" is considered to have significantly reduced in economic distribution. There is a clear shift of focus
1991. However, there is a need of more of change. from mere figures to betterment in the lives of the
For a country, that seeks to be a global power, masses.
encourage entrepreneurship and investment, there
Companies are looking at inorganic growth through
is still a huge amount of red tape.
mergers and acquisitions to expand businesses,
In order to help the industry combat the impact of improve top lines and increase valuations. Further,
global financial crisis, the government had provided companies are also looking for investment options
three stimulus packages to the industry resulting in a outside India as part of the expansion plan. The value
revenue sacrifice of Rs. 1.86 Lac Crore. The of outbound deals was approximately INR 607.79
stimulus packages included cuts in service tax and billion in 2009 as compared to INR 458.04 billion in
excise duty rates. Recently, Central Board of Excise 2008.
and Customs (CBEC) through its circular directed
Conclusion
refund of pending amount within 30 days. The
refunds will boost the bottom lines of software The Indian economy is firmly on the recovery path
exporters just when they look to be recovering from with GDP numbers in the current fiscal coming well
the effects of the global economic slowdown. ahead of expectations. The SME sector has come
into focus as a critical segment that needs to be
Although, the Indian economy has weathered the
developed if we are to see the growth of the economy
global downturn "relatively well", a key challenge
as a whole. The development can be achieved by
facing policy-makers is ensuring a timely withdrawal
adopting sustainable business models. Not only the
of fiscal and monetary policy stimulus. Immediately
SMEs require support of the big enterprises, the later
exit from the stimulus packages may cause collapse
also needs to work hand-in-hand with the former for
of economy.
its sustained growth. A strong government support,
Changing Business Models easy credit availability and innovative solution will
Entrepreneurs of today are adopting new and help the India enterprises in sustained growth.
innovative ideas for sustained growth of their
businesses in recession as well as post-recession
Sanjiv Tandan & Shikha Gulati, Global Advisors
period. Companies are increasing taking the
Ltd., Sanjiv Tandan is also the Honorary
franchisee or JV route to grow business and
Secretary of Noida Management Association,
increasing revenue while sharing costs. Pricing
Noida
models are evolving from fixed pricing to "Outcome-
based pricing". One of the common challenges
faced by the enterprises in this period is cost-

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POST-RECESSION TOOLBOX:
FIVE WAYS TO KEEP YOUR PEOPLE ON BOARD
S . K. Tomer

With the recession biting, 1. Increase communication

many organizations have had
As the leader of your organization, people are
to cut costs, lose staff and
looking to you for direction. You may think you
demand more from their
have communicated your strategy and the
remaining employees.
reasons for change, but you need to repeat it
Professor Jean-François
again and again.
Manzoni offers five ideas (or
"avenues") to keep your "Why this? Why now? What is the case for
employees on board and on change?" These are the messages you need
message for the road to recovery… to highlight. You may say the same thing 10
times a day, but it may be to 10 different
Over the last 12 months, just about every
audiences. While the sense of repetition is
organization in the world has had to go back to
considerable for you, it is not for your
basics and "re-trench" with the hope of emerging
employees.
from the recession a stronger company. For today
that means inflicting a certain amount of pain on Employees also need to understand what the
the organization and its people. Even if you are "prize" is. What are they going to get for their
not laying people off, you might be moving people pain? After all, they have to work harder with
around, asking them to work harder or differently fewer resources.
and with fewer resources. In other words, you are
Explain that by becoming more efficient in
taking people out of their comfort zones. It's a
costs and processes, you will be able to be
difficult balancing act. You need to make changes
more aggressive in the marketplace and gain
and prepare for the future, but at the same time
assets and clients from competitors. In other
you can't afford to lose the goodwill of your staff.
words, you'll be better placed to secure a
Negative energy long-term future for the company and the
staff.
One of the biggest enemies you face during these
times is negative energy. This can show itself in 2. Acknowledge efforts and successes
any of four ways:
In difficult times, the tendency is to focus on
1. The first is fear, anxiety or even paralysis the things that need to be done better. But it's
among staff who feel stressed and unsure of important to positively reinforce the things
what they are meant to be doing. that are already being done well.
2. Helplessness. People who know their role but A simple thank you and recognition of effort
feel helpless without the resources they are goes a long way, particularly when people are
used to. working under tougher conditions and doing a
good job with fewer resources.
3. Internal fighting. Resources are cut and
people blame each other for jobs not being 3. Be mindful of your own impatience
done properly.
Fair process is more important than ever You
4. Disenfranchised prisoners. People who are no doubt feel under pressure to turn things
unhappy in their work but can't leave the around for the company, but you need to be
company as the economic climate limits their mindful of your own impatience and take care
alternatives. not to convey this to your staff. But how are
you supposed to get people to support new
As a leader or manager you have less room for
initiatives that are not favorable for them?
maneuver at times like these, but it's important to
This comes back to communication and
keep "tomorrow" in mind and look at how you can
repeating the message of 'Why this? Why
minimize this negative energy in the meantime.
now? Why the need for change?'
For me, there are five elements to focus on:

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Once people understand why change is needed, process management. As Toyota puts it, "We get
they will also want to know how new initiatives are brilliant results from average people managing
going to work, what benefits they will bring and
brilliant processes. We observe that our
when. More importantly, they will need to feel that
they are being heard and any "pain" is properly competitors often get average (or worse) results
shared. People are capable of supporting difficult from brilliant people managing broken
measures but you must take the time to ensure processes."1
the process is perceived to be fair and not
unnecessarily brutal. Beyond process management, successful
4. The management team must be at its best organizations are relentless in their elimination of
In tough times, employees are looking for non-value-adding activities (e.g., Nestlé's war on
guidance and reassurance so it is vital that waste). They are also very forcefully screening
your management team is at its best and puts out potentially value-adding ideas to make sure
on a show of unity. Not only do you need to they only retain those that offer a high return on
agree on the points below, but you need to be
seen to agree. So be clear about: time and energy invested. Tesco, for example, is
relentlessly rejecting activities or ideas that don't
- how you define the business and its
boundaries lead to "Better, Simpler, Cheaper" - a better
shopping experience for customers, more
- the vision/aspiration you are striving
toward simplicity for staff and/or less costs for Tesco. The
road to recovery will not necessarily be quick and
- the strategy you are pursuing, and
smooth. But I hope these five ideas will help you
- the must-win battles / priorities for the on your way and will enable you to reach your
coming months.
desired destination sooner than expected.
These elements must make sense
individually and collectively, so there is no
room for approximations or a lack of focus.
Author is General Manager (Corporate)
The same goes for management meetings.
Holographic Division of M/s Kantas Track -
Don't waste time in badly planned meetings.
Plan an agenda, identify decisions and take Pack India Ltd., Noida and the Vice President ,
them. Communication and trust is also NMA , NOIDA
crucial. Be forthright with one another and
cut to the chase in a way that is productive
and supportive.
5. Relentlessly drive out complexity Others may be good or bad leaders, you pick up
good from the BAD;
Complexity is always an important enemy for B : Build a team
management, but fighting it becomes even
more important during times that require A : Achieve your objective with vision
employees to produce extra effort. Producing D : Develop individuals (Self First)
such effort to help the company survive or to
position it effectively for the next phase is one
Others may drive an empty car; you drive your CAR
thing. Producing such effort to make up for full of people;
inadequate processes, unclear directions or
confusion of the management team is quite C : Catch right and collaborate
another. A : Appreciate
R : Reward
Increasing the bandwidth of the organization
starts with ensuring the management team's
Wg. Cdr. (Retd.) H. L. Nagpal
alignment and clarity. It also requires excellent

27 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

INTERNATIONAL FINANCIAL REPORTING STANDARD(IFRS):

CONVERGENCE BY INDIA
S. Singhvi
HISTORY OF ACCOUNTING NORMS AND IFRS - KEY DIFFERENCES WITH PRESENT
STANDARDS IN INDIA: INDIAN ACCOUNTING STANDARDS:
Every business in general and 1. Presentation of Financial Statements: Indian
corporates in particular are Accounting Standards offers no overall
required to compile their requirements of presentation of financial
financials and report them statements. Various Statutes and SEBI has
wherever required. Historically, laid down certain standards but they are not
financials or accounts were comprehensive and in line with global
being compiled on the basis of standards. IAS-IR (IFRS) sets out standard
certain basic accounting for presentation of these financial statements
concepts like historical cost more comprehensively to ensure more
concept, materiality concept, ongoing concern transparency and accountability.
concept, conservatism concept, true and fair
2. Business combination: IFRS-3 applies to
concept, accrual concept etc. With the passage
most business combinations including
of time, more and more norms, guiding principles
acquisitions and amalgamations. Under
and standards, statutory requirements emerged
Indian GAPP, there is no comprehensive
and compilation of financials and reporting
standard dealing with all business
thereof became more technical and scientific.
combinations. Only amalgamation in which
The Institute of Chartered Accountants of India
one entity losses its existence is covered in
(ICAI) issued various guidance notes from time to
present Indian Standard. Further, true value of
time to ensure uniform accounting practices in
acquisition concept is dealt with under IFRS.
India. Various statutes like Companies Act,
Income Tax Act, Acts governing certain sectors 3. Group Accounts: Under Indian GAPP
like Banks, Insurance & Power etc. also dealt with preparation of consolidated financial
compilation and reporting norms for financials. statement is required only for listed entities.
Globalization of business further required and Under IFRS (IAS-27-R), the application of
hastened the process of harmonizing and equity method or proportionate consolidation
updating Indian Accounting Standards with those of associates/joint venture is mandatory even
that are acceptable internationally. ICAI in last if entity does not have any subsidiary.
two to three decades, since formation of Comprehensive standards have been
Accounting Standards Board, had come out with covered under IFRS for consolidation of
32 Accounting Standards. The Accounting Accounts.
Standards have now got statutory force since the
4. Financial Instruments: Though Indian
same have been adopted under the provision of
Accounting Standards are issued under IAS
Companies Act in India. Besides Accounting
30, 31 & 32 but these are not made mandatory
Standards, SEBI also regulates the disclosure
yet IFRS 7 is a comprehensive code for
norms for listed companies in India.
presentation, recognition, measurement and
IFRS - A GLOBAL ACCOUNTING STANDARD: disclosure in respect of financial instruments.
Under IFRS all instruments including debt
International Financial Reporting Standard
have been covered.
(IFRS) has been issued by IASC in 2001 when it
replaced International Accounting Standards 5. Income Taxes: Present Indian Accounting
(1973-2001) by IFRS.IFRS are increasingly Standard is covered under IAS 12 and IAS 22
being recognized as global reporting standards. presenting accounting standard for timing
Currently more than 100 countries require or differences in recognizing income tax.
permit the use of IFRS. Whereas entity has history of losses, under
IFRS, the entity recognizes a deferred tax
Some more countries have also announced their
assets arising from unused tax losses or tax
intentions to adopt the same. This shows that
credits only to be extent that the entity has
IFRS has now global acceptance.

20 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

sufficient taxable temporary differences or and would be applicable to other companies,

there is convincing other evidence that including small and medium companies (SMCs).
sufficient taxable profit will be available.
The first set of Accounting Standards i.e.
Under Indian GAPP, if the entity has carried
converged with IFRS will be applied to specified
forward tax losses or unabsorbed
class of companies in phased manners as under:
depreciation, all deferred tax assists are
recognized only to the extent that there is a Phase-I - W.e.f. 01/04/2011: Following
virtual certainty supporting by convincing companies would be covered:
evidence.
a) Companies which are part of NSE - NIFTY-
6. Employees' benefits and share based 50.
payments:. Under IFRS the liability for
b) Companies which are part of BSE - Sensex
termination benefits has to be recognized
50.
based on constructive obligation, Indian
GAPP requires it to be recognized on legal c) Companies listed outside India.
obligation. In IFRS there is no concept of
d) Companies having net worth exceeding
deferment of terminal benefits whereas VRS
Rs.1000 Crores.
expenditure to be accounted for on different
basis. Phase-II - W.e.f. 01/04/2013: Companies having
networth exceeding Rs.500 Crores.
7. Impairment of Assets:. Under IFRS an arrival
impairment test is required for intangible Phase-III - W.e.f. 01/04/2014: Listed companies
assets with an indefinite useful life. IFRS and with Networth below Rs.500 Crores
Indian GAAP have some differences
Now listed companies with networth not
regarding impairment of assets.
exceeding Rs.500 Cores and SMCs are not
8. Property, Plant & equipment, intangible covered for convergence to IFRS at present. The
assets etc.:. Indian GAAP depreciation is correspondence also indicated that necessary
based on higher or useful life of schedule XIV changes in companies Act would be introduced
rates. IFRS requires depreciation to be based soon.
on useful economic life of an asset. Major
S. Singhvi is Director Finance, Ginni Filaments
overhauling expenses can be capitalized
Ltd.
under IFRS. Useful life of Machine can be
reviewed every year under IFRS. IFRS
requires revaluation of entire class of
property, part revaluation is not permitted "If the physical scientists who warn about limits to
under IFRS. growth are right, confronting the global economic
INDIA'S POSITION ON ADOPTION OF IFRS: meltdown implies far more than merely getting the
banks and mortgage lenders back on their feet.
India has in principle decided to converge with Indeed, in that case we face a fundamental
IFRS. The Council of the Institute of Chartered change in our economy as significant as the
Accountants of India has announced to adopt advent of the industrial revolution. We are at a
IFRS w.e.f. 01/04/2011 in a phased manner. historic inflection point-the ending of decades of
Ministry of Corporate Affairs of Government of expansion and the beginning of an inevitable
period of contraction that will continue until
India vide recent press release dated 22/01/2010 humanity is once again living within the limits of
has announced that a meeting of core group Earth's regenerative systems. But there are few
constituted by the Ministry has agreed that in view signs that policy makers understand any of this.
of the roadmap for achieving convergence, there Their thinking appears to be shaped primarily by
would be two separate set of Accounting mainstream economists' assurances that growth
Standard under section 211(3c) of Companies can and must continue into the indefinite future,
Act 1956. First set would comprise of the Indian and that the economic contraction the world is
Accounting Standards which are converged with currently experiencing is only temporary-a
the IFRS which shall be applicable to specified problem that can and must be solved."
class of companies. The second set would
- Richard Heinberg
comprise of existing Indian Accounting Standard

21 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

TRUST ME: CREDIBLE LEADERSHIP DELIVERS RESULTS

Douglas J. Matthews

There has never been a time when leaders are Engagement encompasses more than traditional
under so much scrutiny to behave credibly and notions of job satisfaction. It consists of an active
ethically. The volume and type of change commitment to doing the job well and helping the
occurring today has created a seemingly organization achieve goals and implement
unstable and stressful work environment. strategies. Engaged employees take pride in
Consider the far-reaching impact of the global their organization and work; take ownership of
financial crisis, resulting in organizational their projects; talk positively about themselves,
cutbacks, restructurings, mergers, alliances, their employer and the goods and services they
bailouts and even bankruptcy. help deliver; view working for their organization
as a career, not just a job; and, above all, perform
It's up to leaders to guide employees through
better. A growing body of evidence is emerging to
these times in ways that inspire optimum levels of
show that engagement is one of the essential
w o r k e r p r o d u c t i v i t y, p e r f o r m a n c e a n d
levers of individual and organizational
commitment. And to do this, it takes credible
productivity and success.
leadership. Credible leaders are trustworthy,
competent, dynamic, inspiring and accountable. However, in many organizations, the levels of
It's not enough to have one or a couple of these employee engagement have reached crisis lows.
attributes - which is how most of us have Global research from Right Management
historically defined a great leader. Today, a indicates that only 34 percent of employees in
credible leader needs to hold all of these organizations employing more than 50 people
attributes, while being proficient and competent identify themselves as fully engaged, while 50
to execute strategically. percent identify themselves as completely
disengaged. Nine percent indicate they are
It is leaders' responsibility to build a workforce
engaged by their organization but not by their job,
that is highly engaged and performing at
and 7 percent indicate they are engaged by their
maximum levels of contribution. Effective
job but not by their organization. The former
leadership impacts essential business metrics.
group, sometimes called bench warmers, is
As a critical component of a talent management
happy to cheer from the sidelines but reluctant to
strategy, investing in the development of credible
play a strong role in achieving collective success.
leaders can drive:
The latter group, sometimes referred to as free
a) Improved engagement. agents, is happy to make a strong contribution but
b) Increased workforce productivity. feels no particular loyalty to the organization and
c) Better business performance. may leave at any time.
d) Improved morale.
The study, which surveyed nearly 30,000
e) Optimum retention.
employees in 15 countries on a wide range of
f) Stronger ability to attract top talent.
topics related to organizational effectiveness,
g) Increased levels of customer satisfaction.
including leadership and engagement, showed a
h) Innovation and creativity.
statistically significant correlation between
Bottom-line business results depend on bringing positive assessments of leadership and strong
leaders to the peak of their potential with declarations of engagement and also isolated
maximum efficiency. Effective leaders positively leader practices and behaviors that appear to
impact employee retention and engagement. impact engagement most.
Capable leaders positively impact productivity
Among the leadership practices and behaviors
and performance. Credible leaders do both while
analyzed, the four showing the highest
also demonstrating respect for worker
correlations with engagement are:
contribution - the top leadership factor promoting
employee engagement. 1. Senior leaders value employees.
2. Senior leaders have the capability to make
Leadership's Influence on Employee
the organization successful.
Engagement

15 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

3. Senior leaders effectively implement the models, and they utilize technology,
organization's strategy. communication and social networking
4. Senior leaders effectively communicate the vehicles, such as Twitter and LinkedIn, to stay
organization's strategy to employees. connected with employees and other
stakeholders in the organization. Employees
What stands out about these drivers is how
need to trust that their leaders have the
coherent a picture of employee engagement they
capability to make the organization
present. Employees want to work for successful
successful. To win that trust, credible leaders
organizations and for leaders with the capacity to
must show that they have a plan, articulate
implement strategy and create success (drivers 2
that plan clearly to employees and
and 3). They want the organization's strategy to
demonstrate that the plan is being
be effectively communicated to them so they can
implemented effectively. Credible leaders
play a meaningful role in realizing that strategy
make employees feel like valued partners in a
and helping the organization succeed (driver 4).
common enterprise.
Above all, they want leaders to acknowledge their
work and value their contribution (driver 1). 3. Implement the organization's strategy
Leaders who ensure these conditions are effectively.
satisfied will be rewarded with higher levels of
Mergers, acquisitions, restructurings and
engagement and better business performance.
dynamic market conditions all can
The Behaviors of Credible Leaders necessitate strategic change. But to ensure a
change in direction doesn't mean going off in
Eight behaviors foster credible leadership and
all directions, the organization must maintain
subsequently higher levels of employee
focus. Credible leaders execute strategic
engagement and contribution.
change by first understanding the
1. Create a culture reflecting values with complexities of the change and facing the
which employees can identify. realities of the external forces putting
pressure on their business. Then, they
An organization's culture has a life of its own.
optimize the organization's structure,
No leader or group of leaders can control it
capacities and capabilities; its people,
entirely. However, leaders can influence a
systems and processes; and its leadership
culture in ways that will drive engagement.
performance. They prioritize critical issues,
The most effective leadership behavior is
analyze root causes of performance
leaders showing that they value employees.
inhibitors and identify capability gaps. Once
Credible leaders must do more than simply
strategy has been clearly articulated and
say they value employee contribution. They
agreed upon, they clarify fit-for-purpose
need to make it real and demonstrate it. To
structures and roles, deploy people, systems
maximize employee contribution, top
and processes, and assign capable
management must be aligned and show
leadership at all levels. And finally, credible
employees that they really count. This
leaders measure for impact on actual
includes their ideas, contributions, values
business performance.
and commitment. It has to be ongoing, not an
annual event. 4. Communicate strategy to employees
clearly.
2. Build trust and show you value
employees. Fluid strategies reflecting today's dynamic
business conditions can make
Credible leaders are professionally and
communicating business objectives as
personally interested in employees. They
difficult as writing on water. Yet a workforce
know what is going on in their lives, both at
that better understands the organization's
work and outside of work. They ask questions
strategy is better able to execute it. Credible
about where their interests are and link these
leaders convey clear, consistent messaging
to the direction of the company. Credible
that links every employee to strategy and
leaders build trust through effective
drives engagement, productivity and
communications. This is particularly essential
success. They develop a comprehensive
during times of change. They emulate
communication plan to carry employees at all
appropriate behaviors and act as role
16 NOIDA MANAGEMENT ASSOCIATION
 13th Annual Management Convention

levels from awareness and understanding to 8. Develop leaders at all levels.

commitment and enhanced performance.
Credible leaders invest in their own ongoing
They deliver messages in a clear and
learning while also developing other leaders.
compelling manner and monitor the
Preparing a strong leadership pipeline of
effectiveness of the delivery and its impact on
candidates who are ready now or will be
strategic goals.
ready in the future, enabled by an effective
5. Put strategy to work. assessment and development process,
ensures those leaders are capable of
A winning strategy is no guarantee of
performing at the highest levels and leading
successful results. Unless an organization
effectively through change. By having a
can align its workforce behind its strategy, its
strong succession management process in
strategy is likely to remain on the shelf
place, identifying high-potential and high-
gathering dust. The workforce needs to be
performance leaders, organizations will be in
aligned with strategic objectives. Credible
a much better position to identify talent to take
leaders identify employee and workforce
on new roles created by the organization's
issues impeding strategy implementation.
changes.
They prioritize workforce management
strategies and align them with broader With new challenges confronting leaders at a
strategic goals. They typically use diagnostic quickening pace, no organization can afford to
tools to build executive team alignment overlook the need to develop credible leaders
around the organization's greatest strengths and instill a culture that fosters such growth. In a
and needs. Credible leaders identify top volatile economy in which many organizations
priorities, gain team consensus around face strong head winds, employee engagement
priorities, analyze gaps between the and productivity assume increasing significance.
organization's current state and the state of Credible leaders can create a culture of
benchmark organizations, and then build engagement based on trust. Credible leadership
collaborative approaches with the workforce is the foundation to demonstrate trust in
to get the job done. employees and, in turn, inspire employees to
place their trust in leaders.
6. Step up and be accountable.
Douglas J. Matthews is president and chief
Credible leaders act with character and
operating officer of Right Management, a
integrity. They earn and maintain credibility
Talent and Career Management Consultancy.
when they hold themselves accountable and
Courtesy: Harvinder Jit Kaur, Trainer.
behave in ways consistent with the values of
Contributed by R. K. Chandra, M.Sc., Patna
the organization. To view leaders as credible,
University, C.A., I.I.B, Member Retd. Officer of
all stakeholders need to know that the people
SBI Patna, Life Member, APMA , Delhi, NMA,
expected to lead will accept responsibility and
Noida
account for their actions, claiming ownership
for results produced as a result of their efforts,
regardless of success or failure. "To know that even one life has breathed
7. Manage change effectively. easier because you have lived, that is to have
succeeded."
More than half of the respondents in the
employee engagement research did not - Ralph Waldo Emerson
believe their senior leaders managed change "Peasant people ... don't have a chance to
effectively. Credible leaders need to take a share in the riches that the planet can offer
greater role to ensure change is because some people are taking off so much
communicated and implemented effectively. of the pleasures of this world, and there's only
They should communicate openly and so much to go around."
honestly, keep employees informed, solicit
feedback from those impacted by change and - Sister Dorothy Stang, an eco-activist nun
commit to meeting expectations set by from Dayton, Ohio, who in 2005 was murdered
leadership. From the senior leader on down, in the Brazilian Amazon
the messaging must be consistent.

17 NOIDA MANAGEMENT ASSOCIATION

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FIVE MYTHS ABOUT INDIA

Anil K. Gupta
Info tech can't drive economic growth yet, and its impressions about these countries by comparing
education system faces great difficulties, but such cities as Mumbai, New Delhi, and Bangalore
India is closer to catching China than many with Shanghai, Beijing, and Guangzhou. The
believe. difference between the two countries urban
centers is truly stark. China's top cities now look
India's 7.9% economic growth in the third quarter
more modern and sleeker than New York or
of 2009 vividly illustrates a dramatic
London. By contrast, India's premier cities are still
transformation in the country's image, from a land
vivid examples of the third world. Yet most people
of elephants and snake charmers to that of an IT
overlook the fact that, even though China is
powerhouse and an emerging economic giant.
clearly ahead of India, the former looks stronger
While both sets of perceptions are valid, they hide
than it is while the latter is stronger than it looks.
far more than they reveal. Indeed, when it comes
to the Indian economy, what most people believe In 2008, China's GDP was just a bit more than
to be true contains more fiction than fact. We three times that of India. If India's GDP grows at
highlight below five common myths about India 8% to 9% a year over the next decade a
and discuss why the reality on the ground is quite reasonable prediction based on analyses by
different. Goldman Sachs (GS), the U.S. National
Intelligence Council, and other analysts is that
Myth No. 1: The information technology sector
India's GDP in 2020 will be almost the same as
has been the primary driver of India's economic
China's in 2008. Of course, China would have
growth.
powered ahead by then, but the fact remains that
India is indeed a global powerhouse in India's economy is about 12 to 14 years, not
information technology and IT-enabled services. decades, behind China's. This is exactly the
Yet the IT sector is little more than a tiny, though difference from 1978, when Deng Xiaoping
highly visible, niche in the Indian economy. The launched China's reforms, to 1991, when India
total revenue of this sector added up to $72 billion Jumped onto a similar train.
in 2008. Translated into value-added terms, the
Myth No.3: India's democratic politics will
IT sector contributed only about 4% to India's
prevent a rapid build-up of the country's
Gross domestic product last year. Its contribution
infrastructure
to employment is even smaller: About 2 million
people are directly employed, and an additional 8 Given its fiercely democratic political system, any
million jobs are created indirectly. Those are tiny Indian government will find it impossible to
numbers in a country with a labour pool of 700 relocate quickly a few million people from a city's
million people. center to make way for gleaming office towers
and elevated expressways. Note, however, that
The fact that India's IT sector is just a niche is
infrastructure consists of more than beautiful
actually a blessing rather than a curse.
roads and buildings. It also includes ports,
Notwithstanding IT's annual growth rate of 25%
airports, power generation and transmission
or more the bulk of the recent growth in India's
systems, telecommunications, airlines and
economy has come from manufacturing and
railways.
other services. Only the manufacturing sector
has the scale to create jobs for hundreds of The only aspect of infrastructure that India's
millions of people, most with relatively limited democratic politics hinders in a major way is the
education. If India is to realize its potential as an beautification of cities. The number of people who
economic superpower, it will have to keep need to be relocated to build interstate highways,
following China's path by becoming one of the intrastate expressways, and most other
world's factories. The IT sector gives India a good infrastructure components is minimal and thus
brand image, but most Indian jobs will have to largely unconstrained by democratic politics'.
come from manufacturing.
From 1995 to 2007, China spent about 8.5% of
Myth No.2: India is decades behind China. GDP on infrastructure. During this period, India
spent only about 4.2%. Today, though, the
Most visitors to India and China form their

18 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

situation is radically different. India is currently internationally competitive standards so that

spending abut 8% of GDP on infrastructure and American students can take on "folks in Beijing
has plans to increase the figure to about 9%. and Bangalore". President Obama is right on the
money in noting that, in today's era, labor markets
Ugly and crowded cities, while an eyesore, are are global and that kids in Los Angeles are
unlikely to derail the ongoing manufacturing competing against not just their peers in Chicago
revolution, which needs interstate highways and but also those in Beijing and Bangalore, it would ,
intrastate Expressways far more than easy-to- however, be incorrect to conclude that India's
navigate city centers. In short-given its political education system is anywhere close to world
system, India is more likely to become a class.
manufacturing power long before its cities begin
to look modern. India is not just a large country but also one of the
world's most diverse, with extremely high levels
Myth No. 4: Uncontrolled population growth is a of income and educational disparities. The elite
major burden for India. engineering and business school (the Indian
China's one-child policy has clearly achieved a Institutes of Technology and the Indian Institutes
major reduction in birth rates and population of Management) are tougher to get into than
Harvard or MIT and have produced a
growth. In contrast, when one thinks of India, the
disproportionately large number of CEOs and
enduring picture is one of cities overflowing with
senior executives for some of the world's biggest
poor and teeming masses. Hence the question
corporations.
on many people's minds: How can India sustain
uncontrolled population growth? Yet one cannot overlook the fact that adult literacy
in India runs at only about 61%, far below the 91%
Notwithstanding the utter inability of India's figure for China, the 90 figure for Indonesia, and
democratic political system to impose any type of the 89% figure for Brazil. During the past five
birth control policy, it is critical to remember that, decades, China has placed far greater emphasis
as people become richer and better educated, on primary and secondary education. In contrast,
they choose to have fewer children. Fertility rates India has placed far greater emphasis on tertiary
(i.e., average births per woman) in India are education. The manufacturing revolution, which
declining rapidly from 4.65 in 1980 to 3.25 in is now in full swing and must continue, will need
2000, to 2.68 in 2007. A similar steep decline has high school graduates and vocationally trained
occurred in the population growth rate from people far more than highly trained engineers
2.15% a year during the 1980s to 1.5% a Year and scientists. As in the U.S., transformation of
from 2000, to 2005 and 1.35% a year since then. the educational system and rapid upgrading of
If current trends continue, as is almost certain, the infrastructure will be two of the most
fertility rates in India should drop to about 2.0 desperate needs for India's economy over the
within the next 10 years, and the population's coming decade.
annual growth rate should fall to about 0.6% a
Anil K. Gupta is the Michael Dingman Chair in
year, similar to China's today
Global Strategy and Entrepreneurship at the
In short, population growth in India is a self- Smith Business School the University of
correcting problem that is getting addressed on Maryland. Haiyan Wang in managing partner of
its own at a rapid rate. In any case, in a the China India right (Jossey-Bass/Wiley,
democratic country such as India, it is far easier 20090 and The Quest for Global Dominance
and wiser for the government to focus on how to (Jossey-Bass/Wiley, 2008). Courtesy A.I
make the economy grow at, say, a 9% rather than Sundararajan, Executive Secretary, NMA,
an 8% rate. Over 10 years, that can be as Noida.
effective a mechanism for population control as
any other. "It's very important to understand that climate
change is not just another issue in this complicated
Myth No.5: India's education system is world world of proliferating issues. Climate change is THE
class. issue which, unchecked, will swamp all other
In launching the "Race to the Top" fund for issues."
educational reform in the U.S., President Barack
- Ross Gelbspan, author of Boiling Point
Obama encouraged schools to develop

19 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

WELCOMING NEW MEMBERS FROM 01-04-2009

INDIVIDUAL MEMBERS- NMA
1 IM-628 Mr. Tej Prakash Chopra KF/C-7, Kavi Nagar, KF/C-7, Kavi Nagar, 9891300698 tpc00303@yahoo.com
Ghaziabad Ghaziabad 0120-2781424 tpc00303@gmail.com

2 IM- 629 Mr. Chandna Yadav C-392, Sector-10, C-392, Sector-10 9810165137 yngkem@gmail.com
Noida-201301 Noida-201301 0120-2528637

3 IM-631 Mr. S. K. Puri 364, BHEL Society, 364, BHEL Society, 9999108399 skp200219@yahoo.com
C-58/19, Sector-62, C-58/19, Sector-62, 4249941
Noida-201306 Noida-201306

4 IM-632 Mr. Yashwardhan Sahai C-33, Sector-39, C-33, Sector-39, 9911565612 ysahai4@hotmail.com
Noida-201301 Noida-201301 2400514

5 S-633 Mr. Lokendra Kumar H. No. C-6/16, Postal H. No. C-6/16, Postal 2453281 kumar_lokendra2684@yahoo.co.in
Colony, Sector-31, Colony, Sector-31, 9711280117
Noida-201301 Noida-201301

6 IM-634 Mr. Rajendra Singh C-43, Sector-20, C-43, Sector-20, 2536643 rajendra.hr@gmail.com
Noida-201301 Noida-201301 9818682041

7 IM-643 Wg. Cdr. S. Chandrasekhar G-58, Sector-25, G-58, Sector-25, 2536259 wgcdrsekar@rediffmail.com
Jal Vayu Vihar, Jal Vayu Vihar, 9810381805
Noida-201301 Noida-201301

8 IM-644 Mr. Sidoharth Kaul T-48, Sector-12, T-48, Sector-12, 2525958 prof.skaul@gmail.com
Noida-201301 N oida-201301 9971584191

9 IM-645 Mr. K. S. Awluwalia D-138, Sector-36, D-138, Sector-36, 2574698 ks.ahluwalia@yahoo.com

Noida-201303 Noida-201303 9818812102

10 IM-646 Mr. Amit Walia J-23, Patel Nagar-I, J-23, Patel Nagar-I, 2530162 amit@waliaca.com
(Near Oil Bus Stand) (Near Oil Bus Stand) 9818209605 waliawaliaca@yahoo.com
Ghaziabad-201001 Ghaziabad-201001

11 IM-647 Brig. Dayal Alind 1821, Sector-29, 1821, Sector-29, 2451868 alinddayal@gmail.com
Brahmaputra Aptt., Brahmaputra Aptt., 9811101588
Noida-201301 Noida-201301

12 IM-649 Mr. B. S. Rana Flat No. 37, Millenium Flat No. 37, Millenium 9910497191 bsrana66@gmail.com
Village, Alpha-I, Village, Alpha-I,
Greater Noida-201308 Greater Noida-201308

13 IM-650 Pankaj Kumar Agarwal 50, Vinayak Appts, 50, Vinayak Appts, 2401198 kpa@ntpceoc.co.in
(NTPC Officers SAS Ltd) (NTPC Officers SAS Ltd) 9650991365
C-58/1, Sec.-62, Noida C-58/1, Sec.-62, Noida

14 IM-651 Mr. Dipnarayan Goswami Raison Armor Homes, Raison Armor Homes, 9818687033 dipnarayan.goswami@birlasoft.com
3 Mall Road, Ahimsha 3 Mall Road, Ahimsha
Khand-II, Flat No. 608, Khand-II, Flat No. 608,
Indirapuram, Ghaziabad Indirapuram, Ghaziabad

15 IM-652 Mr. Sudhir Verma F-26/27, Pankaj Central F-26/27, Pankaj Central 42175977 hr@unisunplacement.com
Market, I. P. Extn. Market, I. P. Extn. 9810860818
Patparganj, Delhi-92 Patparganj, Delhi-92

16 IM-653 Mr. Aruna Deva E-102, Shatabai Rail E-102, Shatabai Rail 9811411327 aruna.deva@gmail.com
Vihar, Sec-62, Noida Vihar, Sec-62, Noida

17 IM-654 Mr. Bakshi Dheeraj Branch Head, AXIS Branch Head, AXIS 23262201 dheeraj.bakshi@axisbank.com
Bank Ltd, Near Fortis Bank Ltd, Near Fortis 9811657666
Hospital, Sector-62, Hospital, Sector-62,
Noida-201301 Noida-201301

37 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

18 IM-655 Mr. Basak Shouvik C-2/15, Vasant Aptt., C-2/15, Vasant Aptt., 9810457422 bshouvik@yahoo.com
Plot No. C-58/2, Plot No. C-58/2,
Sector-62, Noida Sector-62, Noida

19 IM-656 Mr. Suman Sarkar Flat -E/404, Indian Oil Flat -E/404, Indian Oil 9818440437 sumansarkar@airtelmail.in
Appt., Plot No. Appt., Plot No.
C-58/23, C-58/23, Sector-62,
Sector-62, Noida Noida

20 IM-657 Mr. Akhilesh N. Singh 364, Neeti Khand-1, 364, Neeti Khand-1 9811054753 ansingh@gmail.com
(opposite Cambridge (opposite Cambridge
School) Indirapuram School) Indirapuram

21 IM-659 Mr. Amar Nath Dass H-115, Second Floor, H-115, Second Floor, 2583545 an.das24@yahoo.com
Yamma Vihar, Yamma Vihar, 9818392752
Sector-19, Noida Sector-19, Noida

Individual Life Members-NMA

1 LMI- 627 Mr. S. N. Singh B-603, C-58/22, Flex B-603, C-58/22, Flex 9810357077 snssisodia@gmail.com
Apartments, Sector-62, Apartments, Sector-62, 2404729
Noida-201306 Noida-201306

2 LMI-630 Dr. S. K. Dube P-283, Sector-21, P-283, Sector-21, 9868390260 skdube@ntpc.co.in

Noida-201301 Noida-201301 2540363

3 LMI-635 Mr. Sunil K. Kulshrestha Cleave Global E Cleave Global E 2404258 sunil@cleaveglobal.com
Services Ltd. Services Ltd. 9811477742
D-180, Sector-63, D-180, Sector-63,
Noida-201301 Noida-201301

4 LMI-636 Mr. S. K. Sharma 24-A, Pocket-A, Mayur 24-A, Pocket-A, Mayur 4012303 sks9@in.com
Vihar, Phase-II, Delhi-91 Vihar, Phase-II, Delhi-91 9871496037

5 LMI-637 Mr. Anil Kumar Sharma III-A, S.f.2, Rachana III-A, S.f.2, Rachana 2776656 anilksharma1955@gmail.com
Vaishali, Ghaziabad Vaishali, Ghaziabad 9837032506

6 LMI-638 Mr. Ved Prakash Singh Uflex Ltd., C-5-8, Uflex Ltd., C-5-8, 2581230 hrd.chem@uflexltd.com
Sector-57, Sector-57, 9312943012
Noida-201301 Noida-201301

7 LMI-639 Mr. Bighnesh Dubey III,A-283, SF-2, A-2, Sector-60, 3982316 bighnesh@uflexengg.com
Vaishali Ghaziabad Noida-201306 9312943013

8 LMI-640 Mr. D. K. Jain A-108, Sector-4, A-108, Sector-4, 4012345 dkj@uflecltd.com

Noida-201301 Noida-201301 9971966799

9 LMI-641 Mr. Quraishi Saif A-588/47, A-588/47, 4002456 27saif@gmail.com

Noida-201306 Noida-201306 9968055067

10 LMI- 642 Mr. S. K. Tomer 231, Sector-10, 231, Sector-10, 4154851 skt213@yahoo.com
Chiranjeev Vihar, Chiranjeev Vihar, 9810153917
Ghaziabad-201002 Ghaziabad-201002

11 LMI-648 Mr. Sanjeev Kumar Singh 297, Niti Khand -III, Minda Corporation Ltd., 4787271 sksingh@mindacorporation.com
Indirapuram, Ghaziabad D-6-11, Sector-59, 9818127071
Noida-201301

12 LMI-650 Mr. Anuj P. Farsaiya B-20&21, Sector-5, B-20&21, Sector-5, 9899115230 sales@omfarubbers.com
Noida-201301 Noida-201301 2421407

38 NOIDA MANAGEMENT ASSOCIATION

 13th Annual Management Convention

13 LMI-658 Mr. Abhay Rew 8/8, Cassia Road, 8/8, Cassia Road, 9818047314 abhayrew@yahoo.com
Shipra Sun city, Shipra Sun city, 2650114
Vaibhav Khand, Vaibhav Khand,
Indirapuram, Indirapuram,
Ghaziabad, UP-201014 Ghaziabad, UP-201014

14. LMI-660 Mr. Surendra Nahata Shri Tulsi Switchgear Shri Tulsi Switchgear 2553369 snahata_stsnoida@yahoo.com
Pvt. Ltd. Pvt. Ltd. 9811192507
D-176, Sector-10 D-176, Sector-10
Noida Noida

Organisational Members-NMA
1 O-157 Mrs. Sujata Chaturvedi Global Institute of Plot No. 1, Block-A, 2400035, sujatachaturvedi@yahoo.com
Asstt. Director Management & Sector-62, 2400060,
Technology Noida-201306 9958775777

2 O-158 Mr. Samir Singh Eveready Industries B-1/2, Sector-80, 3048025/26/27 samirsingh@eveready.co.in
India Ltd. Phase-II, 2568372
Noida-201305 9312618005

3 O-159 Mr. Muzamil Anwar Good Enough A-61, New Friends 2424102 rehanelahi71@gmail.com
Promoter Education Trust Colony, 9810064786
New Delhi-110025

4 O-160 Mr. Arun Pandey Nandini Gravures A-109, Sector-4, 244452, hrd@nandinigravure.com
G. M. (Operation) Pvt. Ltd. Noida-201301 2444553

5 O-161 Mr. A. K. Kulshrestha Montage Enterprises C-20/22,Sector-57,

Dy. Gen. Manager-HR Ltd. Noida-201301

6 O-162 Mr. Gulashan Rai Diamond Comics P. Ltd A-22, Sector-63 4838012 diamondcomicsindia@gmail.com
Managing Director Noida-201309 9810003062

7 O-163 Mr. Prem Goswami R Systems C-40, Sector-59 4303504 prem.goswami@rsystems.com

Head -HR International Ltd. Noida-201307 9818695088

8 O-164 Mr. N. K. Mathur Noida Institute of C-56/11, Sector-62, 4271906 sunnygupta19@gmail.com

Gen. Manager ( Admn.) Management Studies Noida 9999907909

9 O-165 Prof. Ashanadduddin B.V. Northland Institute 18BKM, G.T. Road, 2666171 snsharma17@rediffmail.com
Haidar of Management Chitehra, Dadri,
Director Greater Noida

Asking the right question

Jack and Max are walking from religious service. Jack wonders whether it would be all right to
smoke while praying.
Max replies, "Why don't you ask the Priest?"
So Jack goes up to the Priest and asks, "Father, may I smoke while I pray?"
The Priest replies, "No, my son, you may not! That's utter disrespect to our religion."
Jack goes back to his friend and tells him what the good Priest told him.
Max says, "I'm not surprised. You asked the wrong question. Let me try."
And so Max goes up to the Priest and asks, "Father, may I pray while I smoke?"
To which the Priest eagerly replies, "By all means, my son. By all means. You can always pray
whenever you want to."

Moral of the story is ... The reply you get depends on the question you ask.

39 NOIDA MANAGEMENT ASSOCIATION