Bravehearts of yore

IIPM BUSINESS & ECONOMY

Brothers... in arms, and at it too!
Our struggle for independence may have been marked by men who mobilized avant-garde means of protest (the British probably still wonder how they gave in to nonviolence!), but even the sacrifices of the ones who chose to give the trader-trespassers a thorough scruff shake is oft -told and extolled!

One such is the saga of Santhal rebel leaders, Sidhu and Kanhu Murmu who shook the ground beneath the feet of the British long before the 1857 Sepoy Mutiny stymied them. Hailing from what is now the largest tribal community of India, these two lion-hearted youths, on 30th June 1855,
pledged rebellion against the oppression of the colonialists and their money-grubbing operatives. Rounding up a massive rally of their community members in Bhognadih village in present-day Jharkhand, the Hul (Santhal Rebellion) was the tipping point of simmering dissent against the invaders’ inhuman exploitation of the natives. Undaunted in the face of merciless might, the tribe’s valour is recounted in the Time Annals of Rural Bengal thus: “So long as their (Santals’) drum went beating, they went on fighting to the last man”.

Spread across the eastern parts of India, Santhals believe in no caste distinctions or idol worship and with a language that bears a script common with that of the Indus Valley, their historical extent and relevance for the subcontinent cannot be missed. Their leftist leanings, stemming from the discontent against the rich money- lending classes under the Raj, may have veered out of control in Naxal jingoism, but on the 151st anniversary of Hul, it’ll be the true spirit of freedom, as inspired by Sidhu- Kanhu, that’ll fly high once again.

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Source :- IIPM Editorial, 2006, Editor - Prof. Arindam Chaudhuri

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IIPM : Green signal for Nitish

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Bihar, it appeared, was done, for Laloo Yadav fared badly. Soon, the State Assembly was dissolved following Governor Buta Singh’s report on MLAs being bribed. The report was considered serious evidence of ‘horse-trading’, a term used for influencing MLAs to switch sides, and President’s Rule was consequently imposed. Nothing improved as Singh gave the impression that he was a proxy of Laloo Yadav.

But the Supreme Court got into the act and ruled that the dissolution was unconstitutional. The Court blasted the Governor, criticised the union government for going along with Singh, and ribbed President Abdul Kalam for signing the decree in a hurry, during a visit to Moscow. The fresh elections ousted Laloo Yadav and put Nitish Kumar in place. No one complained. So far, Nitish has not done anything negative. Fingers crossed, however, for the future....

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Source :- IIPM Editorial, 2006

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BHARAT FORGE – this forging isn’t counterfeit : IIPM

IIPM Business & Economy
India might still be really far from being the largest car manufacturing hub, but it definitely is the numero uno when it comes to the auto ancillary business. And the credit indisputably goes to the world’s number two forging company – Bharat Forge, incorporated in 1961. But till as recently as 2002, the company used to obtain over 90% of its businesses from a single entity, and had a solitary product line. Today it caters to a diverse portfolio – from diesel engines to passenger car segments – and has now established itself as a full fl edged engineering enterprise that thrives on technological superiority.

It was in the 1990s when India’s commercial-vehicle market was going through a rough phase that Baba Kalyani, the Chairman, decided to go for the big leap. Baba, an engineer from MIT, transformed Bharat Forge into a global player by acquisitions. Last year, it established its presence in the crucial market of China by acquiring FAW Corporation. Since March 31, 2005, when its sales touched $270 million, Bharat Forge has been marked by stunning earnings, and has seen its stock delivering astonishing returns of over 765% till date. Its stock has also seen a surge of 29 times in price earning multiples. A benchmark of the highest order, this forging firm!

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Source :- IIPM Editorial, 2006

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IIPM : Write to Jack Welch and Suzy Welch at editor@businessandeconomy.org

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Que: I am a young person, not long out of school. I’m filled with ambition, creative ideas and a burning desire to achieve a lot of things in my life, but one thing holds me back: Fear of blowing it. How can I get some nerve? Please advice. (Johannesburg, South Africa)

Ans: You don’t really need “nerve,” exactly. All you need is self-confidence. Without it, you’re going nowhere. But you seem to know that already. Look, only you know why and how self-confidence has eluded you so far. To be honest, perhaps you weren’t born with much of it – as there does indeed seem to be “some” genetic component to it. But then, “by far”, self-confidence is clearly a developed trait. Some people get it at their mother’s knee, where they first hear the happy news that their every bright comment qualifies them for the Nobel Prize, or that they’re taller, cleverer and certainly better-looking than every other child on the block. Others get it from great grades that set them apart, or sports at school, whether they score goals or get elected as captain….

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Source :- IIPM Editorial, 2006

Indian markets have surprised

B-SCHOOL OF INDIA

Yet there are a few players who are still cynical about entering this space citing lower returns from cyberspace as their excuse. Globally, even in mature markets, online garment retailing fetches just single digit growth figures. But buoyancy in Indian markets have surprised even avid pessimists. If ecommerce goes the same jaunty route, there might be substantially more to e-tailing than meets the eye….

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Source :- IIPM Editorial, 2006