2008-01-29

Global B-School rankings: Good news! And then some

Business school fraternities across India should be proud of the recent development in the MBA world. One of the best Indian B schools, ISB, Hyderabad, a path breaker in several ways has made it to the top 20 ranks among global B schools.Read the rankings here.

This development should add more shimmer to the 'India Inc shining' picture. Global investors are progressively looking at emerging markets for better returns. If experts are to be believed,the sole hope over the next year (with imminent US recession), lies in BRIC and other emerging markets, the only ones that can deliver least 18% returns. This, combined with the fact that an Indian B school has been ranked with the top league should make prospective international students think whether studying in an Indian B school and spending a part of their career in Asia is the way to go. The relative cost of education is low and opportunities aplenty.

ISB ought to be in the top schools list for several reasons, despite being young- the program structure, the composition of visiting international faculty, the corporate backing the school has, international alliances, the placement percentage (100%), and not in the least, the five-star facilities in the campus.

The article in The Times of India, read here, has quoted the methodology of computing the remuneration figure. Apparently, the average salary of $169,000 was arrived at by using Purchasing Power Parity (PPP). Now, the PPP between INR and USD is between 6 and 8, for such purposes as calculating remuneration and, well, spending power. This means that at ISB, the average Indian Salary is between INR 10.5 Lakhs and INR 13.52 Lakhs using the limits of PPP.

In general, however, the average salary is mostly misleading, for any school. This is because,by nature of average, a few distinguished top grossers will even out (or skew?) the impact of the many more at the lower end of remuneration scale. Median ought to be more representative but again may not comprehensive. But hey, all schools use the same logic, so we are on level ground here.Are we really, if we use PPP? Because, back home, when top schools report highest-salaries, they convert an international 'USD package' in INR by simply using the forex conversion rate, thereby launching the package into unbelievable stellar heights. That's another story altogether.

In any case, using average ,the numbers in other top Indian B-schools would be in similar range viz.IIMs- A, B and C, FMS, XLRI, SPJIMS. Barring IIM-B and FMS, other schools have a new 'international' one year program. The PGPX program at IIM-A and PGPEX at IIM-C for 'students with substantial experience' have reported 'average' INR 25 Lakhs and INR 20 Lakhs respectively. In terms of PPP, this will translate to an average minimum of USD 315,000 and USD 250,000 using a PPP of 8 (Obviously, 30% higher using 6). Like other aforementioned schools, IIM-A and IIM-C have a legacy of about 40 years and a wide international acceptance of their students and do not lack anything; except a five-star living, perhaps. So, why are these schools not in the list? Did they not participate?

This makes me wonder that in these schools, the people who teach marketing to the people who eventually run the businesses of the world ought to know better.So, why are they not telling? In fact, back home, in the more popular 'BusinessWorld' rankings, IIM-A and IIM-B have been only intermittently participating for the last 3 years.Most ranking sheets, nowadays,in India are based on student responses rather than statistics provided by schools and rarely, if any, by industry.

At the end of the day, the bottom line of any business school is as important as the lessons on bottom line they teach their students. ISB's marketing has left no holds barred. An example is the fact that even I, a prospective student of the past, have received an email from the dean of ISB about this successful ranking.

Nevertheless, with this success of ISB, the top B schools of the world will wake up to the challenge of Indian B schools. Congrats ISB!

Update: Read Rashmi Bansal's view point here. Something I noticed: Ms.Bansal's research has used PPP in a forward-count. This post used a backward-count. Hence, a small difference.

Further update: The reason that the other B Schools mentioned herein do not yet qualify at that level is the fact that in their programs, students with zero experience are also included. Programs exclusively for experienced students have not been running for 3 years.

Find PPP Conversion tables here

2008-01-22

Why we like Udayan Mukherjee:

Those who watch CNBC-TV18's 'India Business Hour' and 'Business Center' at dinner time, need no introduction to this smart face (Executive Editor) of the channel.

There have been times when I have thought Udayan Mukherjee (UM) is a super cool dude and times when I have also thought he is self righteous, but never condescending. Well, I am no great judge of people when a one way interaction happens over the Tube and the interaction is scripted and recorded. UM has the mannerisms of a seer, if I may say so. He speaks slowly in a way that the message is understood correctly, chooses his words carefully and during talk shows and interviews, UM is also very patient and under time constraints waits for the point be made by the other party. He displays the depth of analysis, insight and a lot of homework he would have needed and done before meeting the interviewee, a business honcho in most cases. He does not juggle around with jargon, any more than that needed to convey the technicals. Even so much sometimes flies over my head, but that's mea culpa, not the speaker's.

When you see the carpet of security get pulled out from under your feet, you need to understand from someone reliable, why it is happening. I may be exaggerating about the security part, but there is no doubt that I jumped up from my seat when I saw, in my portfolio, the 'blacks' becoming smaller and the 'reds' becoming deeper. Traders worry, investors don't; at least this one doesn't. Fundamental and blue chip investment is a 'horse for a long race', as they say in Indian parlance.

Yesterday, when the bloodbath happened in the markets, I was waiting for UM to speak out. UM said little yesterday about why of it, except the technicals of margin trading causing a bulk of the loss yesterday. Quite understandably, global cues from Dow and Nasdaq were missing, it being a weekend in The States. The cues would be missing today too, Monday being a holiday there. But, later today, surely the US would not go against a global wave of dipping indices?

In India, however, it was another day altogether. Cues from the eastern markets and the growing sense of uneasiness of the (already here? impending?) recession in the US economy and panic selling triggered by yesterday's losses, especially by those with muscle and those with short positions induced heavy selling, leading to the circuit breaking within a couple of minutes of the session opening. Many a fist has been wrung into the palm, many a tear shed and many a brow wiped by millions today. In the second half of a record smashing trading day, Bulls turned around the multitudes of 52-week lows and put brakws on the downslide , pulling the index up from, about -13% to -4.5%. If only, I were more liquid at this point in time, I myself might have added a nickel or two more.

It is at a time like this that one needs to drive home a simple message. One that this more of a reminder of a simple truth than a brainwave. Because it's "Just that our memories tend to be too short and our greed too much." (quoting the last line of UM's article today).Read here, UM's message today.
This article is one of several reasons why we like Udayan Mukherjee.

2008-01-17

Nano-voce-philia: Defined as...

...love of talking about Nano!

I am not a fanatic for the car per se but am for the principle behind it, for the alternatives Nano provides (still saying that it will be a big hot potato to swallow), the fundamentals it will change, utilitarian concept it embodies and frugal manufacturing technology it testifies. But for the record, I must admit that despite my fears about Nano, Nano is all over my mind. Nano is having an 'in your face' effect on me.

Nano is bound to change our lives and the signs are already showing. Here are some samples.

A recent article in the newspaper prophesied about the peripheral,in several meanings of the word,industries that will flourish in the shadow of Nano. Will not cheap (economical) accessories well embellish a cheap car? It also took a shot at how our conversations and attitudes and jargon would change to accommodate the shifts in paradigms that Nano would trigger. You might say I am progressively becoming a Nano-voce-philic (For good or bad, such people as yours truly like talking about Nano!). Now that is a word I made up. Is there a "Nano" word for someone who makes up Nano words? Nana-verbo-philic, perhaps? If you are getting the hang of it and think I am getting carried away, I have made my point.

If the masses get their bread should the 'nouveau' as well as the 'riche' not get their cakes? Dilip Chabbria has unveiled his impression of a car that could buy a hundred Nanos. Pegged at 1 crore, the rich man's space age answer to Nano will snub the masses with its antiNano philosphy. There in lies the irony: For the rich India, an answer to a frugal car is an extravagant car of similar dimensions with little else in common.

The irony also represents the socio-economic divide that has manifested in different forms in different cities. Be it the Bangalore-commons' quasi-despisal of those working in, literally, glass houses that are IT complexes. Opportunism, crime, harassment and verbal abuse against techies in Bangalore, Pune and other cities. It also shows up in the amplified pillage caused by mobs incited by any issue, the damage in which is mosty incommensurate to what one would expect in response(!) to the problem which triggered it in the first place.

Here is a more significant example of how Nano is raising its hydra-head even before it juggernauts onto the road ten months down the line. Read here about how Nano has upset another automobile manufacturer's grand plans. Electrotherm had a big idea of a small priced AutoRickshaw, but Nano would allow none of it. But as you would have read in the quoted article, ElectroTherm has plans of salvaging their project by converting the prototype into one that is electric and at the same time cheaper. Now, that is innovation driven by market forces. How often do we get witness that so closely and in the live?

We are in exciting times in India and, going by the international pulse, beyond. The show has just began. Nano has just entered the building.

PS: Now, would you call me a Nano-blogo-philic for that matter? Apologies to OUP for misusing the poetic license. For, officially, Oxford has done away with hyphenated words.

2008-01-14

Fueled by stupidity, we drive nowhere

An article in today's newspaper talks of certain obscene measures the local goevernment is contemplating in order to 'beat' the traffic woes that bring down every Bangalorean. Let's begin with how well you can recall your car number? Stumped? You will be, when you will need to remember what day it is and match it with the fact whether your car number is odd or even. Am I kidding? Apparently not, according to this article.

This is a clear case of the government trying to pass the buck to the already frustrated commuter of the Silicon Swamp that Bangalore has become. Traveling in your car even on weekends is akin to bicycling through a desert- slow and tiring and it doesn't take you far. After decades of lethargy, lack of planning and conservatism that translated into apathy to infrastructure requirements, the government has given the people of Bangalore what can be considered as an ever-make-shift arrangement around traffic. Caught in the sudden limelight of explosive growth driven by IT and ITeS influx and a never ending scramble between anti-development opposition 'leaders' and pro-development incumbents, the latter fails to deliver anything. Left headless without a government, the local authorities have come up with this stupid solution of letting people drive on alternative days. Some audacity that, taking people of Bangalore for a ride (no pun intended).

But is curtailing people from driving in a city that has no public transportation except bursting-at-the-seams, almost never on time, never ever enough bus system a befitting solution?

Some questions arise. Let's say your car has an even number and an emergency at home requires you to take your car out on a odd-car day. What should you do? Should you be allowed since a life is at risk? How easily can someone not fake an emergency? Would government vehicles be exempt from this rule? If people can be expected to fend for themselves, should the minister not lead the way and travel in a bus?

Why could the government be not thinking of ideas like that implemented in London? Out there, toll zones have been identified and the cars need to pay a steep toll to just drive through congested areas. The presence of technology companies seemed to have made no impact on the retrograde authorities of Bangalore.

The whole plan of alternate-day driving stinks of escapism and will lead to another series of half-hearted attempts to solve the problems that should have been addressed decades ago.

Quality of life in Bangalore in terms of commute is steadily declining with lot of help from the backward-looking attitude and indecisiveness of the powers that be. Impractical suggestions like curbing driving privileges only add insult to injury. Hiding behind the shield of 'it has worked in some European countries' the local bodies seemed to be pleading to be forgiven for failing to come up with practical ideas. This is the cost we pay for throwing out the corporates (PPP) with social-conciousness from the game.

This is exactly when I want to thank Ratan Tata for his Nano. Now, all I need to do is to buy a Nano, get it registered with an even number and I am good to go. I will drive my regular car on Mondays, Wednesdays and Fridays and the Nano on Tuesdays and Thursdays.

Hush, don't tell anyone about the Nano!

2008-01-10

El Nano Effect

Catapulting itself into the league of world-changing automobiles, Nano has rolled out of the portals of Tata Motors. Unveiled earlier today,apparently, to a roaring welcome, Nano will change India and in a way that will impact us for a long time to come.

With a lot of scepticism about the way this car will change Indian way of life, I had tried to surmise (read here and here) that India and Indians will come under a lot of pressure when this dream car becomes a reality. Saying something to the effect of 'a promise is promise' Ratan Tata has delivered a mean-mini-machine at an unprecedented and mere USD2700 unit price. Any doubts about India's technology around frugal manufacturing will be put to rest today, once the pictures start flashing around the car markets of the world; to be eventually buried when the car proves its performance on the road over the next few months.

Giving an unparalleled 50 Mile Per Gallon (test conditions?) for a petrol driven car with contemporary looks, Nano, will probably capture the imagination, interest and pockets of millions upon millions of Indians and other third-world-ians. At the same time it will set, if it proves true, new benchmarks. I am doubtful about this last part since the basic tenet of Nano has been to be a cheap car; no great shakes about creating a lean-burn technology.

However, the little beauty, on the face of it, has much to offer. Tata's ever expanding dealer and service network will carry this car into the remotest corners of the country. That is a big problem, because this car will also probably spread in the urban landscape like a forest fire. And when that happens, every square inch of tarmac on our narrow deficient streets will cry for mercy and the people behind wheels beg for redemption. Well, that may be a little too dramatic, but the fact remains that if this car succeeds the way it ought to for TATAs to breathe easy and the way it looks ready to, Indian way of traffic management, infrastructure support in terms of roads, bridges and parking space will first collapse, then taking us through months and years of failure, regret and disillusionment, deliver us to something innovative.

I have very little faith left in me about how Bangalore will survive the deluge (just wait and watch) that Nano will unleash. Nano will change our lives by challenging the administration to better itself.

Since road will be so packed, is this the right time to think about a cheap helicopter, may be for for a million rupees or two. Meanwhile get ready to face a huge demand-supply crack in petrol once the millions among us get enticed by the economy-dream-come-true Nano. Small Car.Big dreams.Bigger Pains.

Nevertheless the boldness behind a concept-realised, yet to be tested on road, is commendable.

Watch videos here.

See pictures here.

Tata Small Car Website is here

2008-01-04

Big little things

A non-working day in the middle of the week works like a charm. Doubling the joy, I chose to not work on the first day of the new year,only an optional holiday. How precious is that?

That evening, after a long time, we thought we should ride around the countryside on our bike. It's always a pleasure to ride an Enfield. The drive took us to the Anekal lake and presented us with a carmine sunset over the still shallow waters. Confined to the corridors of Vastrapur campus for the latter part of the year, I think will only be able to look back at life's little pleasures such as watching a painted sky withdraw out of horizon like expensive silk sliding off a dark rosewood table inscribed with glitter. At the end of the clear day, the colours lingered even as we turned our backs and chugged on.

Rolling down the unusually slug (many offices in E-city were not working, we guessed) and therefore pleasant Hosur Road, we made our way yet another time to our deary chinese eating place China Pearl. Finding it too early to sit down for dinner and moreover needing to stretch our legs after a fifty kilometer ride, we decided to take a walk on the street. That is when my wife's slipper broke (Who listens to unsolicited advice on apt footwear for a bike ride?). A little late for a cobbler to be open, we realised, when after hunting down a repair shop found it shut. My offer to replace broken slippers with new ones was gently declined, as there were 'many pairs unused yet'.While S was dragging her right foot along, I was trying figure out how the slipper could be revived for a couple of more hours.

They say something about necessity bearing ideas, but I will qualify it as simple improvisation. An idea sprung up when we were passing by a tender-coconut seller. When I was a kid , I remembered, there was a neat way in which the tender-coconut seller would tie up two tender coconuts by using strands drawn out of the green damp shells of each of those and hang the pair over the bar of my bicycle. I still remember how the knot would survive the bumps on the road and needed to be scissored to be undone. So, there it was- an idea hanging over a pile of tender coconuts. The strands from the green shell of the coconut could be used as a makeshift tie for the broken slipper. The fix would also be inconspicuous. But even as I was explaining to the lady who was clasping a sickle about how she could help us with the the broken slipper, she offered other ideas such as giving us a safety pin. But the design of the fancy slipper would not allow a pin to fix things, so we declined and we went ahead with our idea of stringing up the slipper with the juicy strands. We were good to go!

Dinner was delectable, as expected. We have some favourites which we mix and match with new items on the menu. China Pearl has never disappointed us.

Something strikes me when I think about the evening. The eagerness of the lady to help in the situation is commendable. I do not mean to make a big deal of a safety pin offer. It is the attitude that is in point. I am sure she endures a lot of flack from the street and the public on a daily basis and it leaves a bitter taste in her mouth. And here we were talking to her at the end of her rough day explaining a weird patch-up I was attempting on the broken slipper. She was cool and eager to listen. May be, then again, only I do not meet such enthusiastic people so often.

Or am I becoming progressively cynical about people and expecting very little? Then again , may be she values human interaction. How many times do we try and listen to anything a stranger has to ask of us? Thoughts of mugging and mooching ensnare us (I will concede to the part-truth behind this). Technology is a useful raider. It robs us of basic interactions with the lure of productivity and efficiency. How many times do we walk down to our colleagues instead of picking up the phone and getting it done? How many of us know our support staff on first name basis?

Anyway, her help was appreciated and we let her know that.For the records, the slipper lasted till it was retired out to the corner of the shoe box.

I relearned, in more ways than one in the evening, that it's the little things that make life livable.

2008-01-03

Separation Blues

A couple of months from now, I will be seeing the last(For now? For ever?) of the place that was, as is more common in this industry, like it or hate it, second-home for the last six years. Nice! Now, I have said it! I was not concious of how much this workplace might have come to grow on me, even until after I triggered off the workflow of my separation.I did not get a full night's sleep yesterday; and that's when I knew. May be it's coming out now. (Just a nice word it might be for resignation, but the intranet application for this purpose is actually called 'Separation'.)

I do not like the word 'quit', because I am really not quitting anything here. I also do not like the word resign in any meaning of it except that which implies 'give up a possession'. Because, not sure whether my employer saw it that way, all along I took my job and workplace personally. I made many mistakes on the way;but did not stumble upon them again. I travelled to many new places, made many friends and worked with some dynamic managers and, though did not contribute much to them, operated closely with some considered as thought-leaders within the company and outside.

I will miss several things. Foremost among them is the pristine campus that has all the comforts of a resort, if not home. This facility for more than twenty thousand people has two bank branches, close to a dozen ATMs, 5 food courts with more than 35'eateries' of all cusines, a pizza place, an upscale buffet-garden restaurant,two gymnasia, a swimming pool, tennis, basketball and volley ball courts, a brand-store for apparel and accessories, a photo studio and camera shop, a printing shop, a grocery store, a computer store, two beauty salons, two cellphone shops, several travel agencies, a couple of easy-bill-pay centers, a meditation room, a clinic and my hangout- a book store. Apparently, this green campus is home to more than 80 species of birds and more than as many varieties of plant and trees. I am sure I have missed a few things in the list.

I will miss the youthfulness that drives this place. Six years ago, I added to lowering the average age at this place. Today, I am dragging the average higher, but the place has only grown marginally older in those terms. There is at least one major event happening in any given week, making it the most happening place for many people I know. I will miss the sense of comfort that entered me the minute I entered my own 'manager's cube'; my personal fifty square feet.

I will miss the kiss of the spray, on the walk back from the gym, from the sprinklers turned on after sun down. I will miss the reflections of the crimson skies on thousands of glass panes on over fifty architectural expressions. I will miss the silhoutte of the library dome. On a rainy day, I will miss the waves of green-white-and-blue umbrellas with 'Ozone' (an internal eco-club) written on them. I will miss the Fridays that break the monotony of formal wear with an explosion of casual colors.(Out here, we 'boyz' say- No matter what season, here, it's Spring on a Friday).

When passing by Building 1 (quite aptly the corporate block), there would be a mild sense of anticipation of catching a glimpse of a corporate or international digintary or even one of our own IT gurus. Because, rarely have I walked the same ground as a leader whose words and values are sought after by an international audience. Working within walking distance of moguls never become second nature to me.I will miss that sense of expectancy.

I will also miss the inanities of the johnny-come-latelies who fall up from the comfort of their homes in to the comfort of this workplace and then complain about what more they want! I will miss such inanities like I would miss a Peter Seller's movie; something to to laugh back upon.

Of course there are a few things I will not miss and would rather forget, but I am not one to regret.

Simply because, yesterday is not coming back and I have tommorrow to take on.

2008-01-01

Review of 'I am Legend'

Watching deers being chased down Broadway and coming face to face with a pride of lions at Times Square leaves you with a weird feeling. With grass covering the criss-crossing streets and avenues of Manhattan, the ground zero in the movie, one feels breathless at desolate high-rises of the city that we know as one that never sleeps.

The hunter is Robert Neville,circa 2012, the 'saviour' doctor-scientist who refused to leave the quarantined isle for larger than life reasons. He, along with his dog, Samantha, and a few loaded cars tries to maintain sanity in the face of devastation and isolation three years into the aftermath of an experiment-gone-wrong, which blotted out 99% of the human population, all the while carrying out tests to find a cure for the infection caused by KV.

The imagery is no doubt computer generated (CGI) and mostly great, except may be the 'infected human beings' or 'creatures'. The images instantly remind you of the hyper-aggressive men and women of 'The 28' movies (find more here).But this is where the similarity ends. While the goriness of The 28- creatures was a result of the immense effort of make-up artists, the creatures of 'I am Legend' are plastic and viewers can see through the CGI.

The story and the screenplay do not dissapoint you. Pyrotechnics (CGI?) are breathtaking. Keeping you on the edge of your seats, the movie has several chilling moments. Will Smith's potrayal of Neville, especially one dealing with personal loss is commendable. The emotions are touching and the horror real. Learning to create a make-believe 'normal' life, Neville, seemingly starts losing it towards the turning point of the movie. Smith's performance parallels that of Tom Hanks in Castaway. The two roles are collimate in the demands they make on the actors. If there was any doubt before, this movie should put Smith up there in the league of top drama actors. This is a Will Smith movie to the last shot.

The movie is a metaphor for the perils of indiscriminate genetic engineering and of 'man playing god'. The mistaken success of one doctor leading to a legendary quest for finding a cure for it by another makes the movie watchable for the indomitable human spirit the picture encapsulates. The climactic plea 'I can cure you, just let me help you' falling on deaf ears might as well represent the reality of today where man torn between ethics and technological prowess is underestimating downstream impact of his actions on the earth and life on it. There is bound to be some collateral dammage when one man risks his life in consummation of his quest for discovering and defending the cure. It makes him a legend.

The movie is worth a watch. I blame it on the New year's eve that the movie hall was not full(85% occupancy). I see little reason why people with a stomach for gore and scare should not like it. For the imagery and the theme, the movie has been rated A.