What emerging realities do you see in light of the emerging economies? Which among these new economies do you feel would outpace the others? Quote examples and facts to support your argument.
As a part of my curriculum for my Economics degree I had once read a paper that spoke on using historical trends to develop expectation of the future. It stated vehemently that the reasons for the emergence of the western countries no longer exists and hence can never be replicated by the new emerging economies. Every time I come across an article on the BRIC countries or the Goldman’s report on India and China this paper seems to come back to mind.
Do I agree with this paper, well yes and no. Economically the paper is right, the world has changed, resources have changed, international dynamics are different and countries who will be bigger, who will grow faster and who will become the so called super powers will do so, on different pillars of reason. However socially I see some very common trends developing and as much as the social needs of people have a correlation to the economics of business I see a high degree of similarity between the then and now ‘emerging economies’.
Possibly these reasons are inbuilt into the social fabric of mankind. The desire for a higher quality of lifestyle, lower saving rate (visible among the yuppies), greater proportion of expense on luxury and entertainment etc.
Some of the emerging realities that I see are:
1. The creation of new centres of power – The world is no longer Uni-polarized. It would be difficult to say that it is bi polar but I think that there is such a high degree of mutual dependence among nations that no country is all powerful. The Chinese and Arabs own a larger part of the now severely contracted US economy, the west is dependent on Asia for their manufactured good, on South America and the Middle East for the raw material supplies and what’s more they no longer have the degree of military control or capitalist ability to take them against their will.
2. Knowledge as the most valuable resource – This is not to say that knowledge did not exist earlier and was never important. But the proportions now are unlike ever before. The beauty about knowledge which makes it all the power valuable is its mobility. There is no law, no tax, no boundaries when it comes to creating and sharing knowledge. The emerging economies have successfully created economies based on knowledge and have a created a new niche for themselves.
3. Domestic resilience – Another emerging reality is how strong domestic demand in these countries is. Backed by large populations, growing per capita income and latent demand from all corners of the economy, these economies are more capable of weathering a global storm such as the one created by the subprime crisis.
I wish I could say that India is the emerging economy that I would definitely put my bets on. ‘Inspite of the Gods’ written by Edward Luce explain why. We can only go so far if we are constrained by infrastructure, political games, bureaucracy and narrow mindedness. I would bet on India when it comes to fundamentals of the economy, the strength of our workforce and are ability to grow but for solely this one reason I would choose the Chinese economy.
Wednesday, October 8, 2008
Blogging Round 1
Are management graduates meant to be corporate servants or corporate masters? As a responsible member of the student community, what steps would you take to promote entrepreneurship among B-school students? Suggest implementable solutions.
A very pertinent question in todays times and I think it is important to begin by differentiating between what is traditionally interpreted as entrepreneurship aka corporate master and a corporate servant. An entrepreneur is one who builds his own organization or runs his or her own business, reports to no one and works and lives on his terms. A corporate servant on the other hand is not the owner, promoter of the business and works in an established culture and environment.
As MBA graduates are we responsible for the innovation, creation and well to quote Schumpter – ‘Creative Destruction’; Definitely yes. However can we achieve those aims under the leadership, guidance and vision of another one of our pedigree (and often one not from it). Definitely yes again. We have often seen great ideas; achievements, profits and individual greatness emerge from people who might be termed as corporate servants. However this does not to any degree diminish the significance of their work. Jack Welch and Iacoca Lee are just among the few illustrious names who are the creators of such legacy.
Now coming to the twist in my argument – I strongly believe that all these individual – Mr Welch included have a strong sense of entrepreneurship, of vision and of creation. And to a large part their success can be attributed to this sense of entrepreneurship.
Having thoroughly confused you on the importance of entrepreneurship – Let me state it simply – I believe that an MBA or a campus or an experience that can develop those traits in you is the best opportunity that an individual can obtain. I have had the opportunity to go through some such experiences and that’s where I would like to source my implementable solutions from.
1. Guidance and Support – There is often a large gap between the desire to take initiative and the act of doing it. The gap is largely filled by risk, chance of failure and lack of support. A campus can encourage its students by giving them this guidance. The concept of holiday placements is one such tangible measure taken by some of the IIM’s to encourage entrepreneurship in the business creation sense. Faculty guidance and support to such endeavours, as well as creating a healthy environment among the community for students who walk down this path would enable a burst of such activity.
2. Opportunity on Campus – To me, entrepreneurship is much more a hands on activity. At campus I have started my own business along with a classmate and that to a large extent has instilled in me those very useful traits. Active student participation in campus activities, organizational and planning responsibilities, and campus centric small businesses, according to me is some of the greatest and easiest learning mediums.
3. Association – Working along with entrepreneurs and learning from their experiences and perspectives, their failures and victories can create in students a desire for such activity. Having first hand information will also go a long way in helping them make an informed decision. Providing students to intern with start-ups during the summer as well as during the academic session as against the traditional recruiters would be a perfect platform to create in them these abilities.
A very pertinent question in todays times and I think it is important to begin by differentiating between what is traditionally interpreted as entrepreneurship aka corporate master and a corporate servant. An entrepreneur is one who builds his own organization or runs his or her own business, reports to no one and works and lives on his terms. A corporate servant on the other hand is not the owner, promoter of the business and works in an established culture and environment.
As MBA graduates are we responsible for the innovation, creation and well to quote Schumpter – ‘Creative Destruction’; Definitely yes. However can we achieve those aims under the leadership, guidance and vision of another one of our pedigree (and often one not from it). Definitely yes again. We have often seen great ideas; achievements, profits and individual greatness emerge from people who might be termed as corporate servants. However this does not to any degree diminish the significance of their work. Jack Welch and Iacoca Lee are just among the few illustrious names who are the creators of such legacy.
Now coming to the twist in my argument – I strongly believe that all these individual – Mr Welch included have a strong sense of entrepreneurship, of vision and of creation. And to a large part their success can be attributed to this sense of entrepreneurship.
Having thoroughly confused you on the importance of entrepreneurship – Let me state it simply – I believe that an MBA or a campus or an experience that can develop those traits in you is the best opportunity that an individual can obtain. I have had the opportunity to go through some such experiences and that’s where I would like to source my implementable solutions from.
1. Guidance and Support – There is often a large gap between the desire to take initiative and the act of doing it. The gap is largely filled by risk, chance of failure and lack of support. A campus can encourage its students by giving them this guidance. The concept of holiday placements is one such tangible measure taken by some of the IIM’s to encourage entrepreneurship in the business creation sense. Faculty guidance and support to such endeavours, as well as creating a healthy environment among the community for students who walk down this path would enable a burst of such activity.
2. Opportunity on Campus – To me, entrepreneurship is much more a hands on activity. At campus I have started my own business along with a classmate and that to a large extent has instilled in me those very useful traits. Active student participation in campus activities, organizational and planning responsibilities, and campus centric small businesses, according to me is some of the greatest and easiest learning mediums.
3. Association – Working along with entrepreneurs and learning from their experiences and perspectives, their failures and victories can create in students a desire for such activity. Having first hand information will also go a long way in helping them make an informed decision. Providing students to intern with start-ups during the summer as well as during the academic session as against the traditional recruiters would be a perfect platform to create in them these abilities.
Saturday, October 4, 2008
A little something about me
If you are reading this, we are probably going to be meeting between the 10th to the 12th at IIM Bangalore and I look forward to that opportunity. Before we meet here's a little something what what you could expect...
Currently 22, I am pursuing my MBA at FMS. I ma majoring in Finance and completed my summers at D.E. Shaw this year. I am an Economics graduate from Venkateswara College, Delhi University and before that completed by schooling at 7 different schools across the country. This gave me the opportunity to live in many cities including Bangalore and that experience is something I truly cherish.
There are few other experiences in my life that I think have truly enriched my life. I have been part of the debating team at school and college, I have also started my own social service organization with the objective of providing relief to Tsunami victims and working for causes of child labour and HIV/ AIDS. Recently a classmate of mine and I started an organization that has its business in merchandising and it has been a great learning curve.
I am sure that Numero Uno would be one great experience and I look forward to being there.
Currently 22, I am pursuing my MBA at FMS. I ma majoring in Finance and completed my summers at D.E. Shaw this year. I am an Economics graduate from Venkateswara College, Delhi University and before that completed by schooling at 7 different schools across the country. This gave me the opportunity to live in many cities including Bangalore and that experience is something I truly cherish.
There are few other experiences in my life that I think have truly enriched my life. I have been part of the debating team at school and college, I have also started my own social service organization with the objective of providing relief to Tsunami victims and working for causes of child labour and HIV/ AIDS. Recently a classmate of mine and I started an organization that has its business in merchandising and it has been a great learning curve.
I am sure that Numero Uno would be one great experience and I look forward to being there.
Why Should I be Numero Uno
Numero Uno to me is an ideology that is founded on three main pillars. Firstly, and most obviously, being the best at what you do. Secondly, achieving excellence not only in one sphere of life but also in the multiple dimensions that make it complete. Thirdly, and most importantly it is about being the leader, about taking charge, about paving new ways and about setting a precedent.
I believe that I have done reasonably well for myself. I have the honour of writing the letters FMS next to my name. I have just completed my internship at one of world’s largest and most respected private equity fund – DE Shaw. I was the only student in my batch to be awarded the prestigious O.P. Jindal Management Scholarship. I was a rank holder in my studies in Economics at the undergraduate level. I won the Excellence Award in the year of my graduation from school. I have set up a company and a social service organization of my own, both of which are successful – one of which I continue to manage.
Experiences, I believe make a man and I have lived that motto to the hilt. Apart from my academics, along with 5 classmates I founded a social service organization, AASRA, in my undergrad which worked for the relief of tsunami victims and engaged in projects to spread awareness among the youth on issues of child labour and AIDS. I am an active debater at national and international debates and was the general secretary of my college debating society. I founded the Alumni association in my college and it now celebrates its 4th year of existence under a new student team each year. While in FMS I started a company, ‘Studio Nine’, which while I am a finance major is in the marketing domain revolving around branding and merchandising.
I would like to believe that I have taken a different path, taken charge and displayed leadership skills time and again – whether it is the 2 organizations that I formed, the social service organization which worked with a volunteer strength of 80 or it is the 500 member strong alumni association which was conceptualized and created from scratch. In both these cases I believe that I have not only but set the bar higher for myself but also strived to set a precedent.
I believe that it is not only a combination of these achievements, but the means to attain them that prepares me to face some of the toughest and most competent competitors at ‘Numero Uno’ and gives me the capabilities to face the challenges and do my best to stand apart.
I believe that I have done reasonably well for myself. I have the honour of writing the letters FMS next to my name. I have just completed my internship at one of world’s largest and most respected private equity fund – DE Shaw. I was the only student in my batch to be awarded the prestigious O.P. Jindal Management Scholarship. I was a rank holder in my studies in Economics at the undergraduate level. I won the Excellence Award in the year of my graduation from school. I have set up a company and a social service organization of my own, both of which are successful – one of which I continue to manage.
Experiences, I believe make a man and I have lived that motto to the hilt. Apart from my academics, along with 5 classmates I founded a social service organization, AASRA, in my undergrad which worked for the relief of tsunami victims and engaged in projects to spread awareness among the youth on issues of child labour and AIDS. I am an active debater at national and international debates and was the general secretary of my college debating society. I founded the Alumni association in my college and it now celebrates its 4th year of existence under a new student team each year. While in FMS I started a company, ‘Studio Nine’, which while I am a finance major is in the marketing domain revolving around branding and merchandising.
I would like to believe that I have taken a different path, taken charge and displayed leadership skills time and again – whether it is the 2 organizations that I formed, the social service organization which worked with a volunteer strength of 80 or it is the 500 member strong alumni association which was conceptualized and created from scratch. In both these cases I believe that I have not only but set the bar higher for myself but also strived to set a precedent.
I believe that it is not only a combination of these achievements, but the means to attain them that prepares me to face some of the toughest and most competent competitors at ‘Numero Uno’ and gives me the capabilities to face the challenges and do my best to stand apart.
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