LECTURES
Prof. J. Philip provided an introduction to the management education available in India. He noted that while 200,000 MBAs are earned each year in India, only 50,000 or so are good MBAs; thus, it can be assumed that not all schools provide quality education. The Indian Institutes of Management (IIMs) are the most difficult schools to gain acceptance to, but afford the best education to students. Additionally, Prof. Philip remarked that all good business schools in India are fully-residential, take a lot of interest in total job placement after graduation, and strive to teach students to work ethically in the business environment.
Information on the current Indian economic scene was presented by Prof. C.P. Ravindranathan. The American perception of the Indian economy is that there is steady growth, an increasing middle class, and a lower cost of living. India is expected to experience an 8.5% growth increase for 2010-11, second only to China. A target of $200 billion in exports for 2010-11 may be achieved; $176.5 billion was the 2009-10 total. Some of the main concerns today include bringing down inflation, tightening the monetary policy, and strengthening the exchange rate of the Rupee. The Indian government issued a series of three stimulus measures to counter the effects of the global economic slowdown; this was done through tax reductions, increased government spending, and infrastructure development. The primary growth drivers for the next two years are expected to be domestic consumption, outsourcing, and capital expenditure.
A former employee of HCL, Prof. Atish Dasgupta based his HR lecture on his knowledge of HCL’s practices. Vineet Nayar, CEO of HCL, transformed HR with his “Employees First, Customers Second,” approach; the premise of this philosophy is that the employees will take care of their customers if they are well-taken care of first and that the power set forth by the CEO needs to be distributed downward. Notable HR applications at HC
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