narsee monjee college of commerce and economics...
TRANSCRIPT
Narsee Monjee College of Commerce and Economics
Insight Commerce and Trade (January 2015) Department of Commerce
“Business is a game, played for fantastic stakes, and you're in
competition with experts. If you want to win, you have to learn to be a
master of the game.”
-Sidney Sheldon
Editorial:
Insight is an innovative approach by Department of Commerce to connect the syllabi
and the buzz-o-buzz happening in the world of Commerce, whereby making teaching
and learning process more productive.. Business environment is changing , there is
explosion of knowledge therefore the key to survive in such a dynamic and competitive
world is to keep oneself updated with the knowledge and information and thereby
adding value for efficient use of this information. Insight is just a small step forward to
facilitate this growth among the learners by providing latest information with reference
to Commercial activities happening world wide. Department of Commerce has planned
to come up with separate and exclusive e-letters from next month ie. February 2015 in
the field of Business, Advertising , Marketing, Management and Environment. The
articles, information and stories are taken from leading newspapers, magazines,
journals, books, websites etc. for educational purpose only.
Management:
Management Reshuffle After
Google Glass Flop
When Google announced it was halting
sales of its Glass device earlier this month
the firm's message was upbeat: Glass was
simply being "graduated" from the
research stage towards
commercialisation.But now it has admitted
for the first time that investment in the
device has been cut back and management
reshuffled after the eyewear failed to hit
internal targets.
The wearable headsets - which can be used
to surf the web, check emails and record
video - were discontinued on 19 January.In
an analyst call following the release of
quarterly earnings which fell short of
forecasts, chief financial officer
Patrick Pichette admitted Google Glass
had hit setbacks.He said: "When teams
aren't able to leap hurdles, but we think
there's still a lot of promise, we might ask
them to take a pause and take the time to
reset their strategy, as we recently did in
the case of Glass.
"And in those situations where projects
don't have the impact we hope for, we do
take the tough calls, we make the decision
to cancel them, and you've seen us do this
time and time again."
Google's growth slowed to 7% in the final
quarter of 2014 compared to the year
before.
The company's shares fell in after-market
trading to a low of $492.22 (£362.62)
when earnings were first announced, but
recovered to $510 (£338.42). Its stock is
down 9% over the past year, amid fears of
a slowdown in desktop search and falling
profit margins for online advertising.
(Source: News.sky.com)
The Hot Stove Theory:
The "Hot-Stove Rule" of Douglas
McGregor gives a good illustration of how
to impose disciplinary action without
generating resentment. This rule draws an
analogy between touching a hot stove, and
undergoing discipline. When you touch a
hot stove, your discipline is immediate,
with warning, consistent, and impersonal.
These four characteristics, according to
McGregor, as applied to discipline are
self-serving and may be explained as
follows:
When you touch the hot stove, you burn
your hand. The burn was immediate. Will
you blame the hot stove for burning your
hand? Immediately, you understand the
cause and effect of the offense. The
discipline was directed against the act not
against anybody else. You get angry with
yourself, but you know it was your fault.
You get angry with the hot stove too, but
not for long as you know it was not its
fault. You learn your lesson quickly.
You had warning as you knew the stove
was red hot and you knew what would
happen to you if you touched it. You knew
the rules and regulations previously issued
to you by the company prescribing the
penalty for violation of any particular rule
so you cannot claim you were not given a
previous warning.
The discipline was consistent. Every time
you touch the hot stove you get burned.
Consistency in the administration of
disciplinary action is essential. Excessive
leniency as well as too much harshness
creates not only dissatisfaction but also
resentment.
The discipline was impersonal. Whoever
touches the hot stove gets burned, no
matter who he is. Furthermore, he gets
burned not because of who he is, but
because he touched the hot stove. The
discipline is directed against the act, not
against the person. After disciplinary
action has been applied, the supervisor
should take the normal attitude toward the
employee.
Source: (whatishrm.com)
Advertising:
Creativeland Asia and Parle Agro
Split
Creativeland Asia and Parle Agro have
mutually agreed to end their alliance,
which ran for nearly eight years.
Nadia Chauhan, CMO and joint MD,
Parle Agro, and Sajan RaJ Kurup, founder
and creative chairman, Creativeland Asia,
who are wife and husband, have taken this
decision to find a balance in their personal
and professional lives, informed a
statement from the agency.
Chauhan said, “The reasons for the split
are purely personal. While it is not an easy
decision, with our growing family we have
mutually decided to separate our personal
and professional lives. We have planned
this mutually over the last one year. Both
of us have had a fantastic journey working
together over the last 10 years. It's been
fantastic working with CLA and Raj and
undoubtedly their style, culture and quality
of work is extremely unique making it
quite challenging to find a new agency to
work with. For now we have decided to
work with a few international and
domestic agencies on project basis. As of
now we are doing a project with
Pentagram (London) and another with
Sagmeister & Walsh (New York) - both
for Frooti.”
Kurup said, “Sometimes you have to
make tough decisions and put personal life
above business. Not having Parle Agro
will impact our revenues by 19 per cent for
this year. We are well prepared and our
plans are in place. We‟ll come back
stronger.”
Creativeland has partnered with Parle
Agro since its inception in 2007 on brands
that include Frooti, Appy, Appy Fizz,
Hippo, LMN, Frio, Bailley, Saint Juice
and the recently launched Cafe Cuba.
(Source: CampaignIndia.in)
Google’s gift to Marketers The company announced viewability
reporting across its ad platforms, part of its
goal of "full transparency" for marketers.
Google has taken its definition of
viewability from the Media Rating
Council, an independent US body
responsible for coming up with
measurement standards.By that
definition, Google will tell advertisers
whether at least 50% of their video ad was
in view for at least two seconds.
For now, that means advertisers won‟t
know whether the sound was on, or how
long their ad was viewable. However,
Google says both features will come later
this year.
Viewability as default metric
Google will roll out viewability reporting
to all marketers and publishers on
DoubleClick and its ad exchange in the
coming days. It will soon extend the
service to YouTube ads reserved at a
premium, or those booked through Google
Preferred, a service that pairs advertisers
with the top YouTube channels.
Bob Wootton, director of media and
advertising for advertising trade body
ISBA, said Google should reimburse
advertisers for ads which are not viewable.
He added: "There is a discussion to be had
around the Media Rating Council‟s
[standard] that has been implemented in
the US. Seeing an ad for two seconds with
50% in view surely is a very low bar to
meet when talking about „viewable‟
impressions."
(Source: Marketingmagazine.co.uk)
Marketing:
Twitter buys ZipDial
NEW DELHI: Twitter has acquired
Bengaluru-based mobile VAS firm
ZipDial to mark its first acquisition in
India, as the microblogging firm aims to
expand its presence in one of world's
largestInternetmarkets.
Though the deal size was not disclosed,
reports suggest the monetary value is
between $30-40 million (between Rs 185
crore-Rs247crore).
The Indian startup, which was already
working as a partner with Twitter, offers
services like missed calls for user
verification and alertstoitscustomers.
"India is one of the fastest growing
countries for us. We have been focussed
on growing our audience here and this
acquisition will dramatically accelerate
that strategy," Twitter Market Director
(India and Southeast Asia) Rishi Jaitly told
PTI.
He added that the acquisition will also help
Twitter strengthen its engineering efforts
in the country. "Millions of people are
coming online for the first time in
countries like Brazil, India and Indonesia.
For many, their first online experience will
be on a mobile device - but the cost of data
may prevent them from experiencing the
true power of the Internet. Twitter, in
partnership with ZipDial, can make great
content more accessible to everyone," he
said.
He said the ZipDial platform is a "perfect
match for India", which is a mobile-first
country.
"Only one in 3 phones in India have active
Internet connections and even the average
consumption is very low at an average of
60 MB per month compared to 1.38 GB
consumed each month by users in the US.
Our technology allows brands to interact
with the audiences, especially in areas
where people aren't always connected to
data or only access data through
intermittent WiFi networks," Wagoner
said. ZipDial's platform has engaged
nearly 60 million users with hundreds of
marketer clients, including leading brands
and media companies, including Procter &
Gamble, Cadbury, Unilever, Colgate,
Disney, KFC, and MakeMyTrip.
Over the past two years, ZipDial and
Twitter have collaborated on a variety of
campaigns, including the Indian elections,
Bollywood film promotions and
@MTVIndia's #RockTheVote "Dial the
Hashtag" campaign.
Twitter has more than 284 million monthly
active users. It, however, does not disclose
country-specific user numbers.
ZipDial has about 50 employees. Its
investors included Blume Ventures,
AngelPrime, Sunil Goyal of YourNest
Ventures, Mumbai Angels, Jungle
Ventures, Unilazer Ventures, and 500
Startups.
(Source:economictimes.indiatimes.com)
Finance:
Bandhan Financial Services to
start a bank
KOLKATA: Bandhan Financial Services
is about to raise Rs 1,600 crore equity
from International Finance Corporation
and Singapore's sovereign wealth fund
GIC to boost capital ahead of its banking
foray.
Bandhan's chairman and managing
director Chandra Shekhar Ghosh
confirmed it saying that IFC, itself would
put in Rs 580 crore and GIC would invest
the balance amount.
Bandhan is India's largest microfinance
company and the first one to get in-
principle license to start a bank. ..
IFC's investment in the Kolkata-based
lender would be the biggest in the
country's MFI sector so far. Accordingly,
the World Bank's financing arm's
shareholding in Bandhan would rise from
the current 10.9% while the others would
be the first time investors.
"The funding exercise would be completed
in a month," Ghosh said adding that the
entire amount would be channeled into the
non-operative financial holding company,
which will hold the bank.
He said Bandhan Bank would begin
business with Rs 3,200 crore capital, 4.6
times more than Rs 500 crore, the
minimum capital requirement for new
banks fixed by Reserve Bank of India. At
present, Bandhan's networth stands at Rs
1,400 crore with capital adequacy ratio
being over 21%. It is expected to make its
banking foray by September.
Bandhan Bank plans to begin operation
with 600 branches and 4,000 officials at
the branches and the headquarters. There
would be over 10,000 field workers who
will make the last mile connection
between the new bank and the customer.
Bandhan has decided to play to its
strength, ie, rural and economically weaker
segment. Bandhan's strength as an MFI has
been in catering to the poor borrowers at
the doorstep.
Ghosh says that over 62 lakh borrowers of
Bandhan microfinance will be brought in
the banking fold almost immediately it
turns into one and their portfolios will be
transferred to the new entity. They will
also be offered savings and deposits
facilities which will help Bandhan access
the low cost funds it has longed for all
these years. The bank is expecting to open
at least 10 million accounts in one go
when it starts operations.
(Source: economictimes.indiatimes.com)
SEBI Cancels registration of ING
Mutual Funds MUMBAI: Capital markets regulator
SEBI has cancelled the registration of ING
Mutual Fund with immediate effect on
account of transfer of all the fund house's
schemes to Birla Sun Life Mutual Fund.
Securities and Exchange Board of India
today said it has "cancelled the certificate
of registration of ING Mutual Fund and
has withdrawn the approval granted to
ING Investment Management (India)
Private Ltd, to act as the Asset
Management Company to MutualFund.
"Consequently, with immediate effect, the
ING Mutual Fund, the Board of Trustees
of ING Mutual Fund and ING Investment
Management (India) Private Ltd, cannot
carry out any activity as a Mutual Fund,
Trustee Company and asset
Business :
Strong dollar could scare tourists
away from US
New York restaurant owner Jeremy Merrin
has seen business droop in recent weeks at
his Havana Central eatery in Times
Square. The reason: not enough
international tourists.
"We're fighting a double-whammy," said
Merrin, who owns three restaurants and is
on the board of the New York State
Restaurant Association. "Not only is the
dollar going up and making things more
expensive, Europe as a whole is not doing
well."
International tourists to the United States
spend more than $200 billion annually on
travel, hotels, dining and shopping, but
growth in 2015 is expected to decelerate as
would-be visitors balk at the stronger
dollar and grapple with weaker economies
at home.
"That could impact the length of their stay
and the composition of their spending in
the United States," said David Huether,
senior vice president, research, at the U.S.
Travel Association, which sees the
influence of the stronger dollar becoming
more severe in 2015‟s second
half.Problems of the tourism industry are
not the only ill effects of currency
appreciation. The strongest dollar in a
decade, by some measures, is causing
some U.S. manufacturers to cut financial
forecasts as the costs of U.S. exports rise.
U.S. companies with foreign operations
also will see lower revenue as offshore
earnings are converted back into dollars.
Travel experts hope some of the drop in
spending in the United States will be made
up for by increased tourism from China,
where visitors can now get a visa that lasts
10 years. Lower gas prices and a stronger
U.S. economy also may encourage more
domestic travel, they said.
The dollar has climbed about 15 percent
against the yen and the euro over the past
six months. It is up about 6 percent against
the won.
Chris Gaffney, senior market strategist at
EverBank Wealth Management in St.
Louis, expects the strong dollar will affect
a number of U.S. sectors that serve foreign
tourists, including airlines, hotels, and
retail. Companies with tourism operations
abroad could see relief because "For
American tourists, Europe on sale‟, he
said.
Morningstar equity analyst Paul Swinand
said department store chains with a large
presence in some of the "gateway cities"
could see a 1 percent or 2 percent slip over
the next year because of lower tourist
spending.
(Source: The Economic Times)
90,000 handsets sold by Xiaomi
and Flipkart on 20-01-2015.
Like clockwork, Xiaomi was at it again on
Tuesday as it sold 90,000 handsets via
online retailer Flipkart. It sold both the
Redmi 1S smartphone and the Redmi Note
4G phablet.
The company sold 30,000 units of the
Redmi 1S, which was sold out in 5
seconds. The company also sold 60,000
units of the Redmi Note 4G smartphone.
"Today's sale of Redmi 1S: went out of
stock within 5 seconds. Thank you Mi fans
for your love and support :)
@MiIndiaOfficial," tweeted Manu Kumar
Jain, head of Xiaomi India. The Redmi 1S
is Xiaomi's entry-level product, which is
sold for Rs.5,999. It is powered by a
Qualcomm Snapdragon 400 quad-core
processor and has a 4.7-inch LCD display
with a 720p resolution.
It also has 1GB RAM, 8GB internal
storage, and dual-SIM facilities. On the
back, there's a 8-megapixel camera, while
on the front there's a 1.6-megapixel
camera. It runs on Android 4.3 Jelly Bean
topped up with MiUI.
The Redmi Note 4G is Xiaomi's phablet
and only 4G enabled product. It has a 5.5-
inch screen with a 720p resolution and is
powered by the Qualcomm Snapdragon
400 processor. It has 2GB RAM, 8GB
internal storage, a microSD card slot and a
massive 3,200mAh battery. It sports a 13-
megapixel camera on the back and a 5-
megapixel camera on the front. It runs on
Android 4.4 KitKat customized with
MiUI. The Redmi Note 4G costs Rs.9,999
in India.
On January 28, the company will also
launch its flagship phone the Mi 4 in India.
Earlier in the month, the Chinese company
announced the Mi Note and Mi Note Pro
phablets.
(Source: Businesstoday.in)
India sees 421.6% jump in tourist
arrivals in December
CHENNAI: The central government's
effort to boost inbound tourism by
including more countries under the visa on
arrival scheme has paid off.
In December alone, the country saw a
421.6% jump in tourist arrivals compared
to the same period in 2013.
The government issued 14,083 visas in
December 2014 compared with 2,700
visas in December 2013, according to data
from the ministry of tourism.
For the year 2014, India saw a 92.4%
increase in tourist arrivals compared with
the number in 2013. The government
issued 39,046 visas under the visa on
arrival scheme between January and
December 2014, compared with 20,294
visas issues during 2013.
India saw maximum tourist influx from the
US (24.26%), followed by Russian
Federation (15.06%), Republic of Korea
(11.01%), Ukraine (8.16%), Australia
(7.98%), New Zealand (5.08%), Japan
(4.30%), Singapore (4.27%), Germany
(4.05%) and the Philippines (3.10%). In
November last year, the government
opened up visa on arrival for 43 countries
enabled by Electronic Travel
Authorization (ETA). Prior to it, the
regular visa on arrival scheme had been in
operation for 12 countries.
(Source: Times of India)
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Foreign Trade NEWS
‘Foreign Trade clearly has been a reason why inflation has been low.’ Tim
Bishop
UNION BUDGET 2015-16
MAIN FEATURES OF THE BUDGET THAT SHALL HAVE FAR
REACHING IMPLICATIONS ON INDIA’s TRADE AND
INDUSTRY
The budget presented by Union Finance Minister, Mr. Arun Jaitley on 28th
February, 2015 was preceded by lots of speculations and expectations
looking into the promises by BJP which led to its historic win in the May,
2014 elections.
The budget presented by Mr. Jaitley focussed on putting India on high
growth trajectory by focussing on providing impetus to local
manufacturing led by its made in India campaign. It is India’s Prime
Minister’s vision to make India a manufacturing hub of the world to
which this budget has provided a roadmap.
Some of the key points of the budget shall impact India’s trade and
industry is as follows:
1. Implementation of Goods and Services Tax (GST): This budget has
announced the implementation of GST Act from April; 2016.The GST is
a long awaited and the single most important tax reform in the past many
decades which would have far reaching impact on India’s trade and
industry. By the passing of this Act, taxation in India will be simplified
and multiple layers taxation will be removed. This tax will ensure better
compliance and shall leave little room for tax avoidance thereby leading
to increased revenue. The removal of multiple layers of taxation is also
expected to bring down the prices and increase transparency in the
taxation system.
2. Foreign Institutional Investment (FII) and Foreign Direct
Investment (FDI): Union Budget 2015-16 has done away with the
distinction between different types of foreign investments,
especially Foreign Institutional Investor (FII), and Foreign Direct
Investment (FDI). The Budget has replaced the individual cap with a
composite cap. Take for example; the insurance sector has a composite
cap of 49 per cent for foreign investors, which could be a mix of FIIs and
FDI. In the past, the DRTs, SARFAESI, BIFR and Sick Industrial
Company Act have failed miserably in a speedy resolution of bad assets.
Mr. Jaitley has promised that the government will bring a comprehensive
Bankruptcy Code in 2015/16 that will be of global standards. The US has
Chapter 11 where a corporate in distress gets a speedy resolution by way
of a restructuring or sell off.
3. Investment in Infrastructure Sector: In order to give Make in India a
decisive push, this budget has set aside Rs.70,000 crore for infrastructure
and also simplified provisions for investing in the infrastructural sector.
The development of roads, railways and ports will encourage trade and
will attract investment in infrastructure sector both domestic and foreign.
This budget has also allocated Rs.1000 crore for the startups, reduced
taxes on technical services to 10% from the existing 25% to facilitate
technology transfer to India and set up various institutions like IITs, IIMs
etc. to ensure steady supply of skilled manpower for the manufacturing
sector.
4. General Anti Avoidance Rule (GAAR): In order to inspire confidence
in the minds of foreign investors, the budget for 2015-16 has stipulated
that General Anti Avoidance Rule (GAAR) has been deferred for two
years and also made it clear that it will be applicable prospectively only.
The lack of clarity on GAAR had created fear in the minds of the foreign
investors and was long considered as an impediment in the way of foreign
investments. Since India needs foreign investments in a big way, this
announcement in the budget shall go a long way in ensuring unhindered
flow of foreign investments into India.
5. Reduction in Custom Duty on 22 essential raw materials: In order to
ensure cost competitiveness of the manufacturing in India, this budget has
reduced custom duty on 22 essential raw materials used by the industry
thereby lowering the cost of finished products. Additionally, the import
duty on the finished steel, fully imported commercial vehicles, cement etc
has been increased to make the domestically produced goods more
competitive.
6. Sale of PSUs: The budget has set up an ambitious target to raise
Rs.69,500 crore from the strategic sale of PSUs. This target is quite
challenging looking into the past track record of disinvestment (in the
current financial year, Government is expected raise only Rs.31,350
crores against the budgeted target of Rs.58,425 crores). A lot shall depend
on the capital market scenario and hosts of other factors but if the
Government is able to achieve its target, it shall unlock the value of these
Government assets and the revenue generated can be redeployed for
productive planned expenditure by the government.
To conclude, it can be said that though this budget has not announced any
headline grabbing measures but it is a very practical and prudent budget.
The finance minister should now ensure that his ministry is able to make
certain that the funds meant for various schemes are utilized efficiently
and effectively. Also the various targets set by budget should be
monitored carefully to ensure that the Indian economy gears itself up gets
accelerated on the economic roadmap prepared by the new government.
(Source: The Economic Times, 1st, March, 2015, Sunday Times, 1st,
March, 2015, Hindustan Times, 1st, March, 2015)
***********************************************************
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Source: AdvertisingAge 288 million viewers tuned in for India-Pak World Cup clash: TAM Report
The most anticipated clash of the cricket World Cup created Indian television history as 288 million viewers tuned in to watch the defending champions take on Pakistan on February 15 in Adelaide.The game, which the Mahendra Singh Dhoni’s side comfortably won, was the most-watched television event in India in the last four years, since the finals of the 2011 World Cup.The match between the arch-rivals rated 14.8 TVR (TAM data M15+ ABC) across Star network including Doordarshan (DD).The match rated 11.9 TVR (TAM data M15+ ABC) on Star network and 2.9 TVR (TAM data M15+ ABC) on DD.
Source: The Hindu
Facebook launches Ads Manager app; reaches 2 million advertisers
Facebook has announced the launch of Ads Manager app to help businesses manage their ad campaigns on-the-go, through mobile device. The company also announced that it has reached more than 2 million active advertisers, up from roughly 1.5 million six months ago. Roughly 35% of US small businesses don’t have a web presence, but more than 30 million businesses around the world actively use Facebook Pages, stated the company in a press statement. The Ads Manager mobile site was launched last year and is now used by more than 800,000 advertisers each month.
Source: Exchange4media.com
India a champion in controlling tobacco marketing in films: WHO
Geneva: The World Health Organisation on Thursday lauded India's tobacco control mechanisms, calling the country a "champion" for curbing "tobacco marketing in films".
"India is a champion from the point of view in controlling tobacco marketing in films. You even have the case of Woody Allen who did not want his film released due to a regulation. "They have been very relevant in the region to strengthen the cooperation on tobacco control," said Dr Vera Luiza da Costa e
Silva, head of Convention Secretariat of WHO Framework Convention on Tobacco Control (FCTC). Taking note of the "important progress" made by India in curbing the menace, Silva announced that the next conference of the convention will be held in the Asian country. The Indian government had last year announced that cigarette packets would have to stamp health warnings across 85 percent of the surface and plans on raising the age of tobacco sale to 21 as well as ban the use of loose cigarettes. "Smoking or using tobacco is no longer seen as a socially acceptable behaviour; it has been denormalised. However, the more we are advancing, the more aggressive the tobacco industry is becoming. Trade has no ethics," she said on the occasion of the 10th anniversary of FCTC. According to the WHO Global Tobacco Control Report 2013, smokeless tobacco consumption - including chewing products such as gutkha, zarda, paan masala and khaini is culturally more common as a form of tobacco use than cigarette smoking in India. Read More: firstpost.com
Can ‘rebranding’ redeem Air India?
Not too long ago, a new modern day rehashed mascot for the airline emerged. The press picked it up, didn’t seem to take too kindly to it and soon enough the airline took to Twitter to ‘clear the air’ that the Maharajah continues to remain the mascot but that the ‘new’ version would be featured in its communication. A news report in The Times of India dated 18 Jan 2015 attributes the following comment to a senior Air India official that handled the makeover: “The new Maharajah is aligned with the modern times and with the new AI which is also trying to cut flab to become a lean commercial entity. The Maharajah now has a leaner, young, sporty and more dynamic look.” Some brand watchers contend that the rebranding should have followed some evidence of inherent change in the brand. Can a visual rebranding exercise actually spell transformation for the company? Read More: CampaignIndia.in ***************************************************
Green Diary‐ An Environment overview
Editorial
The Department of Commerce in the subject of Environmental Studies presents
its very first bulletin – Green Diary
The bulletin aims to promote awareness and a feeling of belongingness towards
nature and environment. This bulletin shall discuss on recent environmental
issues, topic of the month, Days of environmental importance in the month,
Natural facts and a place of special importance to nature.
I hope you all enjoy reading the bulletin. Feedback and suggestions for
improvement will always be welcomed.
Siddhant Bhide
‐Editor.
Contents
1. Editorial.
2. Recent News.
3. Topic of the month – Birds of Mumbai.
4. Place of the month – Sanjay Gandhi National Park, Borivli East, Mumbai.
5. Important Environment related days this month‐March.
6. What happened this February?
Recent News – ‘Factories discharging effluents in Yamuna asked to shift’ Source: The Times of India, 25th Feb.,2015
As many as 67 small factories in the city which are discharging effluents directly into the Yamuna have been asked to shift from their current location by end of next month. "Sixty-seven small factories which are discharging hazardous acids have been asked to shift by March 31. They can either shift to an industrial area or to a place of their choice," ADM and Nodal Officer of Yamuna action plan Dhirendra Sachan said. A meeting in this regard was held yesterday which was attended by district authorities, Uttar Pradesh Pollution control Board (UPPCB) officials and representatives of factories. Factories which will not shift within the given time would be sealed, he said. According to the ADM, factories running without permission from UPPCB are being enlisted as stern action would also be taken against them. For safety and security of the plants in industrial area, a police outpost may be set up in the area, he said. The ADM has asked people to submit list of unauthorised factories and said that the identity of persons providing information will not be disclosed. During the meeting, secretary of factories association Harish Garg expressed his inability to shift the factories outside the city area owing to security constraints. He also said that effluent of the factories is discharged after treating it.
Did you know?
50 Acres of tropical rain forests are cut every minute all over the world.
Assistant Engineer UPPCB S R Maurya said that in the present scenario it was difficult to make surprise checks in these factories as they are being run from their homes. A PIL in this regard has been filed by one Gopeshwar Nath Chaturvedi in the Allahabad High Court and the case is pending. Nath alleged since Sewage Treatment Plants (STPs) in these factories are not running, acid mixed chemical jeopardises STP of Municipal Board. "It finally reduces DO level of Yamuna causing death of water animals as natural purifying system also fails," he said.
Birds Of Mumbai‐ Aishwariya R Shah, FYBCom F‐055
Indian Robin
(Saxicoloides fulicatus) (19cms)
A common insectivorous bird seen hopping with tail held upright in open
, drier areas. Its nests are pads of grass and fur made in holes in tress or
earth banks. Their long tails are held erect and their chestnut under tail
covert and dark body make them easily distinguishable from the pied
Large‐Billed Crow
(Corvus macrorhynchos) (46‐59cms)
Also known as the jungle crow. This all black, stocky crow is named for its
long, thick bill. Extremely versatile in its feeding, it will take food from the ground
or in trees.
Common Myna
(Acridotheres tristis) (25cms)
An omnivorous noisy bird more common in urban areas. It builds nests in
the hollows of trees. It is also known to usurp the nests of other birds by
forcefully evicting them or building its nest on top. The range of the
common myna is increasing at such a rapid rate that it is declared
Common Tailorbird
(Orthotomus sutorius) (13cms)
Common bird seen among bushes searching for insects. Gets the name
as for a nest, it stitches leaves together. The song is a loud
cheeup‐cheeup‐cheeup with variations across the populations.
Rose‐ringed Parakeet
Psittacula Krameri(42cms)
A noisy bird. Neck rings are absent in females. Feeds on fruits, nuts, berries and
seeds. Both males and females have the ability to mimic human speech. First the
bird listens to its surroundings, and then it copies the voice of the human
speaker.
Common Kingfisher
Alcedo atthis
An attractive bird seen along ponds, lakes and stream. Feeds mainly on fish &
small acquatic animals. The female is identical in appearance to the male except
that her lower mandible is orange‐red with a black tip. The glossy white eggs are
laid in a nest at the end of a burrow in a riverbank.
Red‐whiskered Bulbul
Pycnonotus jocosus
Res cheeks are typical of this bird. Feeds on fruit, nectar and insects.
Call is melodious. They are very common in hill forests and urban
gardens within its range.
NATIONAL PARK OF THE MONTH
Also known as Borivali National Park/ Krishnagiri National Park, SGNP is the miraculously preserved green oasis in the center of urban sprawl. This national park is "one of the very few" that is surrounded by a metropolis like Mumbai , yet sustaining sizable population of big cats like panthers. It is hard to believe that with in just less then an hour and half from Gateway of India, one is transported from hectic and fast life of Mumbai city to a serene and tranquil atmosphere of pleasing verdant wilderness.
Fact file
Official Name Sanjay Gandhi National Park Other names Borivali National Park, Krishnagiri National
Park Area 20.26 sq. kms. Entrances Borivali entrance via main gate, Eastern entrance
via Yeoor, Thane. Major attractions Vanrani Toy Train, Boating area, Kanheri
caves, Gandhi memorial, Tiger and Lion Safari Activities that can be done Trekking, Nature trails, Bird watching, Rock
climbing, Boating, Train journey etc. Timings 7:30 am to 6 pm.
Coppersmith Barbet
(Megalaima Haemacephala)
The loud, metallic tunk..tunk..tunk makes it easy to locate this
small green bird. They are silent and do not call in winter. It feeds
on fruits and berries. Throughout their wide range they are found
in gardens, groves and sparse woodland.
Purple‐rumped Sunbird
(Leptocoma zeylonica )
Very small and attractive bird, feeds largely on nectar, and may feed
on insects, especially when feeding young. Female duller.
The purple‐rumpedsunbird is a common resident breeder. The may
indulge in dew‐bathing, or bathing by sliding in drops of rain collected
on large leaves.
Dusky Crag‐Martin
Hirundo concolor (13cms)
Spends most of its time flying and feeding on winged insects in the air.
The nest is made mud and usually located beneath the protective overhang of
a rocky cliff. Dusky crag martin pairs typically nest alone, although in suitable
locations several pairs may be quite close to each other.
Pied Crested Cuckoo
Clamator jacobinus
Known as the harbinger of rains, often Mumbaikars await the arrival as it
brings along the much awaited Monsoon rains in Mumbai. This insectivorous
bird migrates here from the south India. It has been associated with a bird in
Indian mythology and poetry, known as the Chatak represented as a bird with
a beak on its head that waits for rains to quench its thirst. It is a brood parasite
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Department of Commerce
Insight Volume I, Issue 3, April 2015
(Career Special)
I Careers In Commerce
II Careers In Advertising
III Coping Examination Stress
IV Green Careers
I. Business News
Career Option for Commerce Learners
“Commerce is a branch of any business which covers the economical part of the legal,
social, political, technological and cultural system”.
Commerce is the choice of a big
community of the students. The students,
who wish to work in a corporate world,
usually select the commerce field in their
education.
In the presents times the Chartered
Accountancy qualification is not the only
option for commerce students to enter the
financial sector. While a CA is still a
coveted career, commerce students can
also try for jobs as financial analysts, cost
and work accountants, bankers, various
financial services in banking and non-
banking services, tax consultancy, stock
broking, financial management and many
other related jobs that are being
continuously created in this area.
For learners pursuing CA along with
B.Com can also think for the below
mentioned additional option available to
create their USP in the Indian Economy.
CA interested in Finance should
pursue CFM or CFA(US)
CA interested in Management
should pursue MBA
CA interested in Practice should
pursue CS or LLB
CA interested in European
Countries should pursue CPA
CA interested in Auditing should
pursue CIA
CA interested in International
Accounting should pursue various
courses on IFRS of ICAI.
Career in Various
Fields
Profile Qualification Required
1. Social Enterprise
and Social
Entrepreneurship.
1. Entrepreneur
B.Com + MBA in Social
Entrepreneurship /MBA in
Entrepreneurship
2. Finance 1. Chartered
Accountant
2. Costs and Works
Accountants
3. Chartered Financial
Analysts
4. Certified Financial
Planner
1. B.Com/
M.Com+CA(ICAI)
2. B.Com /M.Com + Costs
and Works
Accountants(ICWA)
3. B.Com /M.Com +
Chartered Financial
Analysts(ICFA)
4. B.Com/M.Com +
Certified Financial
Planning.(ICFP)
3. Retailing Retail Store
Manager
Retail Visual
Merchandiser
Franchisee
B.Com/M.Com +MBA in Retail
Management.
4. Banking 1. Banking Executives
2. Risk Manger
3. Asset Allocator
4. Regulatory
Compliance Officer
B.Com /M.Com , MBA, C.A.,
ICWA, CFA+PSU BANKS
Entrance Examination
5. Tourism &
Hospitality 1. Hotel Manager
2. Event Planner
3. Travel Agent
A bachelor's degree in tourism
and hospitality management
from a Recognized University
6. Teaching 1. Professor
2. Asst. Professor
3. Lecturer
M.Com (with Specialization) +
UGC-NET/SET or
MBA + UGC-NET/SET for
Management Institutes
7. Real Estate 1. Corporate Real
Estates and Facilities
Management
2. Advisor and
Consultant
3. Valuation Appraisal
or Credit
Management
4. Leasing and Sales
Management
B.Com.+Specialised
Programmes /MBA in Real
Estates offered by various
Institutes.(ex. Amity University )
8. Regulatory &Legal 1. General ,
2. Judiciary ,
3. Corporate In-house
legal department,
4. Law Firms,
5. Private Sector
litigation & LPO
Industry.
B.Com.+LLB+LLM/BA+LLB+
LLM
9. Civil &
Government
1. Central and State
Govt .Jobs
B.Com / M.Com +UPSC or State
PSC.
Services (government offices
and organizations,
ministries,
parliament, rural
development sector,
public sector and
other allied sectors)
10. Management HR, Marketing,
Finance, Production
and Operations,
Logistics.
B.Com/M.Com + MBA
(Specialization in the respective
areas)
11. E-Commerce 1. Web site design and
developer,
2. Content developer ,
3. Web programming
and application
developer,
4. Database
administrator
Webmaster.
B.Com. + M.Com. in
Ecommerce or MBA (e-MBA):
12. Actuarial Science
and Insurance
1. Actuaries
2. Investment
Management
3. Wealth Management
1. 10+2 and qualify exam
conducted by The
Actuarial Society of India
.
2. B.Com + Courses offered
by Insurance Institute of
India.
13. Company
Secretaries hip
1. Company Secretary
in Corporates ,
Government
Undertakings
2. Independent
professional
B.Com. + CS (ICSI)
14. Capital Market Financial Expert ,
Analyst ,Consultant
B.Com.+ BSE or NSE
Certification Courses
Some of the upcoming career opportunities for commerce graduates in India are:
*MEDICAL TRANSCRIPTION
Medical transcription, an allied health
profession, deals with the process of
transcription or converting voice-recorded
reports, dictated by physicians or other
healthcare professionals, into text format.
Foreign countries are increasingly
outsourcing their medical transcription
jobs to Indian companies. Some of the
leading industries hiring medical
transcriptionists are healthcare, education,
pharma/biotechnology. Skills
required: Candidates must be good with
spellings, be good listeners, have
knowledge of foreign phonetics and
punctuations, adequate research skills, a
knack for different languages/accents,
above average typing skills and be
competent in picking up new medical
transcription software.
*SOCIAL WORK
The growth in the social sector and the
emerging NGO scene in India, have
opened up options for commerce graduates
to join the fundraising department and
effectively utilise their economic and
business skills.
There are ample self-employment
opportunities available in the field of
social work. Some industries hiring social
workers are IT, healthcare, education,
consulting services, etc.
Skills: Problem solving, communication
and time management skills are a must
*LIBRARY SCIENCE
Library science is the study of how to
operate a library. The field is made up of
several branches:Public
services: Circulation and reference
librarians assist patrons to find information
and check out books Technical
services: Books and other forms of media
are catalogued according to the Dewey or
Library of Congress call numbers,
processed into the library’s online card
catalogue system and readied for the
shelves.Administration: Library directors
or administrators study the field of library
science extensively to keep library
operations running
smoothly.Skills: Candidates must possess
various soft skills along with technical
skills. These include good communication,
interpersonal, leadership, project
management, presentation and teaching
skills. The essential technical skills include
know-how of electronic resources,
understanding and proficiency in research
tools and devices applicable to a library
and understanding computer operating
systems.
*MARKET RESEARCH
The role includes conducting secondary
research, compiling, managing data,
analysis and reporting. Sectors such as
IT/telecom, BFSI, manufacturing and
healthcare offer numerous opportunities in
this area. Skills : Logical and analytical
skills, creativity (in terms of presenting
data in a graphical format), proficiency in
MS Excel and power point.
*BRAND MANAGEMENT
To sustain the stiff competition and attract
top talent, companies are increasingly
focusing on brand management. From
retail (especially online) to IT and
healthcare, every sector is making a
beeline for brand management
specialists.Skills: A creative mindset and
the ability to develop branding strategies,
audit and compliance competencies are
desired too
*DIGITAL MEDIA
Since digital media is picking up
significantly, one can do a short course in
digital media along with graduation for a
promising career as a digital media
strategist. Skills: Creative skills to design,
create and manage digital media
promotions and ad campaigns, research
and analytical competencies.
*MEDIA COMMUNICATION
Jobs in the area of media communication
encompass PR and corporate
communication skills. The demand is high
in sectors such as consulting,
internet/dotcom and IT. Skills: Basic
knowledge of online marketing and
relationship management skills.
*DATA ANALYTICS
The role of data analytics has become
increasingly critical in business
sustenance. Little wonder then, data
analysts are now not only being hired by
IT companies, but also non-IT companies
including those operating in the BFSI
sector in large numbers. Skills: One has to
be good with numbers, data crunching and
analysing.
While opportunities are many, graduates
must keep in mind that competition is
immense too.
The options above are just few from the
several host of opportunities for commerce
students in a multitude of careers in the
financial and non-financial sectors . A
concrete path will lead to success.
For More detail visit the link
http://www.amityedumedia.com/hotcareers
.htm
http://careerguru.co.in/Accounting.php?pg
=Commerce
http://www.indiaeducation.net/careerce
nter/career-options-in-commerce/
http://www.educationtimes.com/article/
10/20140526201405232058123596cf80c8
6/Unusual-career-options-for-
commerce-graduates.html
II. BRANDgyan:
"What really decides consumers to buy or not to buy is the content of your
advertising, not its form."
- David Ogilvy
Advertising is the art of conveying a message to the masses. Advertisements generally
persuade people about commercial products, services and even draw attention towards social
issues. Advertising is one of the chief divisions of any industry that ensures the industry’s
competitiveness in the corporate milieu. Indian advertising industry is on a roll and is all set
to provide quality job to thousands of individuals in next few years.
A career in advertising is a lucrative employment option that one can choose in the rapidly
growing Indian economy. Advertising agencies generally prefer highly creative and talented
individuals who can think independently and at the same time work as excellent team players.
If you are interested in pursuing a career in advertising, you must be highly target oriented
and willing to work in a pressure cooker like environment. Since this industry is very
competitive, you must be willing to give your best at all times to make a successful career.
Careers in Advertising
If you are fascinated by consumer insights,
interested in brand strategy and passionate
about creative ideas, take a serious look at
the advertising industry. But before you
focus on an advertising career, understand
where advertising fits into the bigger
picture of marketing. The marketing
communications industry engages the
consumer through:
Advertising
Direct Marketing
Sales Promoti
Public Relations
Events
Sponsorships
I. THE ADVERTISING
INDUSTRY
Advertising is part of a huge industry
influenced by three trends - consolidation,
globalisation and specialisation. The
industry consolidates in order to strengthen
its position by engaging in worldwide
affiliations or "globalisation". This
process occurs when middle and small
agencies with a good performance record
are taken over by larger multinational
agencies wanting to provide their clients,
often also multinationals, with a local
service.
II. WORKING IN AN
ADVERTISING AGENCY
It is the marketing department or in
smaller companies, the management, that
hires an advertising agency to create,
produce and place its messages. An
advertising agency can be anything from a
creative shop of two to an operation
employing several hundred people.
III. ROLES IN ADVERTISING
Account Management
Strategic Planning
Creative
Studio Production
Print Production
Television/Radio Production
Media
Web Designer
Online Producer/Strategist
Traffic Department
Dispatch
Advertising firms employ people with
different educational backgrounds in
various departments at various levels.
Possessing a professional Degree or
Diploma in a particular field of study can
give you a head start in this industry.
Further, flair for language and excellent
communication skills are other factors
essential for breaking into the realm of the
advertising business.
To get into a specific department of an
advertisement agency, you could choose
from the following courses:
1. Client Servicing: A post graduate
diploma or an MBA in marketing
2. Studio: Course in commercial art or
fine arts (BFA or MFA)
3. Media: Journalism, Mass
Communication or an MBA
4. Finance: CA, ICWA, MBA (Finance)
5. Films: Specialisation in audio visuals
6. Production: A course in printing and
pre – press processes.
The best way to get into this field after a
course is to get on- the- job training. All
good institutions offer internship as part of
the curriculum.
Some of the giants in advertising and
media planning that most students
dream of working with:
Hindustan Thomson Associates (HTA),
McCann Erickson, Leo Burnett, Grey,
R K Swamy - BBDO, Bates, Redifussion
Dy and R, Lintas India Ltd., Ogilvy &
Mather Ltd., and Mudra
Communications Ltd..
Positives/Negatives
+ives
• Challenging and satisfying job
• Hefty growth prospects that are one of
the best in the country
• Heavy pay packets with dollops of
project related incentives
• Chances of meeting the legends of
advertising
-ives
• An industry that is known for its
extremely long working hours
• High pressure and stress inducing work
environment
For More Information on qualification
and Job details Visit:
www.communicationscouncil.org ,
http://www.jagranjosh.com/careers/adv
ertising
Six Myths About a Career in
Advertising
Myth: Advertising is an unethical and
dishonorable profession.
Working in advertising is, in fact, a very
respected profession. Unfortunately, there
are those that think because you are trying
to sell something through advertising that
you're trying to trick or deceive the public.
Advertising actually follows very specific
rules that ensure all advertising messages
are on the up and up. The last thing an
advertising agency wants to do is to harm
their client's reputation by producing
materials that could be misconstrued as
deceptive advertising.
Myth: Everyone in advertising makes a
fortune.
Yes, it's true, you can make a lot of money
working in advertising but not everyone is
making six figures. A majority of people
working in the field started at the bottom
rung of the ladder, interning for free,
possibly even making minimum wage just
to get their start in the industry.
Just as with any profession, in advertising
you pay your dues and you work your way
up. What you make of your advertising
career is completely up to you.
Myth: It's really hard to get started in
advertising.
There are plenty of opportunities for those
who want to get started in the field. This
doesn't mean you're going to get that
corner office with a view, the prestigious
income and creative control of advertising
campaigns with your first job.
There's a lot of legwork you're going to
have to do. But if you're serious about your
career in the industry, you can break in.
Myth: Working in advertising is just
like working in public relations.
These two industries are commonly tagged
as being the same profession. While
advertising and public relations can go
hand-in-hand, their focus is far different.
You can use your advertising skills to get a
job in PR and vice versa but just because
you work in one industry does not mean
you automatically know everything there
is to the other.
Myth: You'll finally be able to put all
those great ideas to good use.
There's a certain process to every
advertising campaign. Some clients give
the advertising agency a basic concept and
they let the agency run with it. Some leave
everything to the agency's expertise and let
them handle every aspect. Other clients
want to be more involved in the agency
process.
In most agencies, you'll have meeting after
meeting after meeting about any given ad
campaign no matter what department
you're in. You can exercise some of your
ideas to an extent but they may not make it
to the client.
As part of the agency team, there are many
levels of red tape your ideas and even your
materials will have to go through before
the project will be complete. The great
copy you wrote on Tuesday may end up
back on your desk with a bunch of changes
by Wednesday. You resubmit it Thursday
and by Friday you've got even more
changes.
Most agencies welcome your creative
ideas but don't get your feelings hurt if
those ideas are dashed. It's not personal,
it's just business. The idea you may throw
around in a creative meeting may be the
complete opposite of what a client has told
their Account Executive they want or what
was decided in a previous meeting with
other execs within your agency.
Myth: It's a glamorous, fun-filled
career. Every day is a day at the beach.
Don't you love those movies and television
shows where the characters work in
advertising and they seem to be having so
much fun? Bosom Buddies, Thirty-
Something, Friends, Nothing in
Common,Bounce - these are just some of
the examples of shows or movies whose
characters have a career in advertising.
And that's just what they are: characters in
a fictional story.
Oh yes, it's great fun to create an ad
campaign and it's rewarding to be a part of
the team. However, there are days you will
work extremely long hours, even
weekends, and there are days your project
may do a 180 and everything you
previously worked on is now trashed.
Sometimes the best days in advertising are
the days when that difficult project finally
leaves your hands for the last time.
More Interesting Industry Insights
Visit: WWW.siliconindia.com
Know the GURU:
III. How to manage stress during Examination time?
A G Krishnamurthy
Everybody knows A G Krishnamurthy as the Captain who
steered his agency from a Rs. 35 lakh company to a Rs. 7
billion corporation in a remarkable short 23 years. But little is
known of his considerable contribution in the agency’s creative
reputation - doubling up as copywriter/art director and quite
often even as creative director. Here is a sampling of AG
Krishnamurthy’s own award-winning (The President of India’s
14 awards included!) ‘portfolio’.
Awards:
1995-A&M Advertising Person of the Year,
1997-Inducted into the Hall of Fame, Ad Club,
Calcutta
1998-Nominated as one of the 25 key figures in the
international ad industry
1999-The Premnarayen Award by the AAAI.
Students undergo a lot of stress especially
during the examination period. Students
fear that they may not perform as per the
expectations of their parents and have lot
of expectations. Examination related stress
relates to various factors:
Lack of self confidence
Intense competition
Negative thoughts
Lack of time management
Family pressure
Pessimism
Due to intense competition, the anxiety of
students and the fear of failure in the
examination and career have grown
manifold. What needs to be remembered
by parents and students is that stress is
normal\ and creative. Stress makes us to
put efforts to achieve our goals. Stress is
often seen as something negative and that
which should be avoided. But this is not
always correct. Many people look at stress
as an opportunity to improve their
performance.
There are certain ways to cope up with
stress during examination time which are
as following:
1. Better time management
2. Avoid distractions like frequently
checking messages on mobile
applications and e-mails.
3. Analyse the situation realistically
4. Visualize and beat your fear and
apprehensions.
5. Create a pleasant study
environment
6. Meet your friends ask them
questions to clarify your doubts.
7. Use relaxation techniques like
meditation, deep breathing, and
conscience breathing to reduce
tension.
8. Make sure that you take rest and
sleep well and eat healthy.
Wish you good luck for your examination
and future.
IV GREEN CAREERS
“Commerce and Green???” This question comes to our mind when the commerce
student can really think of making a career in environment. With the degree in
commerce huge number of avenues is open in the field of Environment
What is a green career?
Green careers involve working in green
jobs that are focused on sustainability
and/or environmental protection and
preservation. These jobs can be defined
either by the nature and purpose of the job
or by the nature and purpose of the
employer.
Green Jobs: Towards Decent Work in a
Sustainable, Low-Carbon World
assembles evidence -quantitative,
anecdotal, and conceptual—for currently
existing green jobs in key economic
sectors (renewable energy, buildings and
construction, transportation, basic
industry, agriculture, and forestry) and
presents estimates for future green
employment. The pace of green job
creation is likely to accelerate in the years
ahead. A global transition to a low-carbon
and sustainable economy can create large
numbers of green jobs across many sectors
of the economy, and indeed can become an
engine of development. Current green job
creation is taking place in both the rich
countries and in some of the major
developing economies.
We define green jobs as work in
agricultural, manufacturing, research and
development (R&D), administrative, and
service activities that contribute
substantially to preserving or restoring
environmental quality. Specifically, but
not exclusively, this includes jobs that help
to protect ecosystems and biodiversity;
reduce energy, materials, and water
consumption through high efficiency
strategies; de-carbonize the economy; and
minimize or altogether avoid generation of
all forms of waste and pollution.
In response to climate change and other
concerns, our society is going green, and
that includes the workplace. Many
employers are creating new green jobs and
changing their existing jobs in terms of
how the work is done. Others are starting
up new businesses built on a foundation of
green values. Although we don’t know the
exact number of green jobs, recent studies
are now suggesting that five to seven
percent of the jobs in the US are green
jobs, and that percentage
is expected to increase significantly
through 2030 to where green jobs may
account for one of every four or five jobs.
So it is clear that both the number and the
percentage of green jobs is growing. It is
also clear that green jobs now represent a
wide variety of occupational choices that
didn’t exist just two to three years ago.
They can now be found in every corner of
the workplace and economy. The
following list shows the industries and
their sectors where most green
jobs can be found.
Another term associated with Environment
or Green jobs is Sustainable:
Merriam-Webster defines “sustainability”
as a method of harvesting or using a
resource so that the resource is not
depleted or permanently damaged.
So a Commerce student can also opt for
Sustainable business:
A sustainable business or organization
generally means that they are committed
to:
• Conserving energy
• Using renewable energy sources
• Preventing pollution
• Reducing waste
• Conserving water
The following are the sectors available for
Commerce student can opt for:
o Advertising and Public Relations
Services Industry (Green)
• All sectors
o Ecotourism Industry
• All sectors
o Recycling Industry (Green)
Green sectors include:
• Electronics (cell phones, computers)
• Glass
• Metal
• Paper
• Plastics
• Textiles
• Wood
o Renewable Energy Industry
Green sectors include:
• Biomass
• Solar Systems Manufacturing
• Solar Systems Sales, Installation and
Service
• Wind Turbines Manufacturing
• Wind Turbines Sales, Installation and
Service
Case Study:
Karma Yonten : Greener Way Bhutan
YBI Environmental Entrepreneur of the
Year 2013
Karma Yonten is Bhutan’s first citizen to
turn waste management and recycling into
a business. His pioneering enterprise,
Greener Way, is tackling the country’s
growing waste problem head-on: it
collects, separates and correctly disposes
of domestic waste material; it manages
1,140 tonnes of recyclable matter; it has
launched groundbreaking education
initiatives; and it turns organic waste into
high-grade compost. Karma, who was
always determined to be self employed
as well as serve his community, was
becoming increasingly concerned about
mismanaged waste and related issues such
as unsightly landfills, leaching toxins and
dangerous side-effects on people’s health.
The $8,100 loan and mentoring assistance
given to Karma by Bhutan’s YBI member,
Loden Entrepreneurship Programme
(LEP), provided the means and much-
needed guidance for Greener Way to
develop and expand. Today the business
employs 31 people directly, and provides
an income for more than 150 ‘rag pickers’.
Contributing towards Bhutan’s Gross
National Happiness
Karma’s decision to pursue a business in
waste management was initially
controversial. The son of a regional
customs officer and a mother who worked
for a private mining company was
expected to have a more conventional
career, especially with his Bachelor of
Commerce degree. “To quit my job and
take up the waste business, which is
considered very low profile in Bhutan, was
never welcomed,” says Karma. “But I had
a business dream and I was not going to let
it go.”
Karma was determined to make his dreams
of business ownership and community
growth a reality, and saw opportunity in
Bhutan’s neglected, mismanaged and
maligned waste management sector. Waste
was becoming an increasing and
worsening problem in his local area.
Karma took the initiative, researched waste
management and devised a business plan
before approaching LEP for assistance in
2010. “The Loden Enterprise Programme
(LEP)believed in my business idea and in
me, and their timely grant of capital
enabled me to buy the necessary
equipment and a van to collect waste,”
says Karma. “Furthermore, the LEP’s
encouragement, mentoring and support
were the driving force behind my venture
into this business,”
The 30-year old Karma is well on his way
to achieving his business goals, namely of
creating gainful green jobs, safeguarding
his local environment and contributing
towards Bhutan’s economic growth. His
business has also been lauded for its
contribution towards the environmental
preservation pillar of Bhutan’s Gross
National Happiness (GNH) philosophy.
Greener Way, operating directly in
Thimphu, Paro, Wangdiphodrang,
Punakha and Chukha, is providing an
income for 31 full-time staff of whom 17
are men and 14 are women.
The business is also on the verge of
expanding to all major urban centres in
Bhutan through collaboration with
government and agencies.
Building Links and Strengthening the
Community
Karma’s business has earned a reputation
for fairly remunerating its more than 150
‘rag pickers’ who collect waste for the
business. An organisation called WHAT
(Waste Handlers’ Association of Thimphu)
has been created which indirectly employs
these disadvantaged people and protects
their rights. Per annum, Greener Way
manages 540 tonnes of paper, 240 tonnes
of PET (plastic) bottles and 360 tonnes of
other plastic waste. Karma plans to expand
his business’s remit into other recyclable
waste items in the near future. Currently,
Bhutan’s recyclable waste is exported to
India but there is a goal to establish a
recycling unit in the country.
Perhaps more profoundly, Greener Way is
working across all districts to introduce the
concept of recycling to a country which
has not benefitted from organised,
professional recycling before. This is
resulting in people changing their ideas
about waste management and their
purchasing choices. In strong partnerships
with schools, monasteries, health
organisations and community groups,
among others, programmes have been
developed to raise awareness about the
environment. Meanwhile, the business has
made provisions for organic waste
to be treated in a local composting plant.
The end-product is safe, high quality
compost which can be used by businesses,
farmers and individuals. Karma,
considered an “exemplary entrepreneur
and model young leader”, has been invited
to guest lecture at several tertiary
institutions at a national and international
level, including Columbia University’s
Barnard College. He has also participated
in high-level meetings and was part of the
Bhutanese delegation with the country’s
Prime Minister. Greener Way has set up a
fund to help educate several poor and
disadvantaged children from the area. The
business regularly conducts waste
awareness workshops for all the sweepers
of Thimphu, and it also regularly provides
internships, enabling young people to
receive invaluable work experience.
Karma is adamant that money is not the
main motivation. Instead, employment,
education, awareness and waste reduction
have been the primary forces behind
Greener Way, which is making
extraordinary strides embedding
environmental awareness and preservation
in Bhutan and abroad.
-
Source: www.youthbusiness.org
www.unep.org
Department of Commerce
Insight Volume I, Issue 4, May 2015
(Tourism)
I Tourism is a big employment generator for Indian’s.
II Incredible India Campaign
III Eco Tourism
Business News:
Tourism is a big employment generator for Indian’s.
.
Introduction
The Indian tourism and hospitality
industry has emerged as one of the key
drivers of growth among the services
sector in India. Tourism in India is a
potential game changer. It is a sun rise
industry, an employment generator, a
significant source of foreign exchange for
the country and an economic activity that
helps local and host communities.
The value of the brand to the consumer,
the growth in emerging markets, the
importance of consumer-facing
technology, and development and
retention of human capital have helped
shape the tourism industry over the past
five years.
The travel and tourism sector has
developed into an industry with an
annual economic report (direct, indirect
and induced) of around US$ 6.5 trillion
worldwide. The global hotel industry
generates approximately between US$
400-500 billion in revenue each year, one
third of that revenue is attributable to the
United States.
Market Size
The number of Foreign Tourist
Arrivals (FTAs) has grown steadily in
the last three years reaching around
7.46 million during January–
December 2014. Foreign exchange
earnings (FEEs) from tourism in
terms of US dollar grew by 7.1 per
cent during January-December 2014
as compared to 5.9 per cent over the
corresponding period of 2013. FTAs
during the Month of December 2014
were Rs 120,083 crore (US$ 19.02
billion) as compared to FTAs of Rs
107,671 crore (US$ 17.05 million)
during January-December 2013 over
the corresponding period of 2012.
There has been a growth of 6.8 per
cent in December 2014 over December
2013.
Foreign Exchange Earnings (FEEs)
during the month of December 2014
were Rs 12,875 crore (US$ 2.03
billion) as compared to Rs 11,994
crore (US$1.9 billion) in December
2013 and Rs 10,549 crore (US$1.67
billion) in December 2012.The growth
rate in FEEs in rupee terms in
December 2014 over December 2013
was 7.3 per cent. FEEs from tourism
in rupee terms during January-
December 2014 were Rs 120,083 (US$
1,902.53) with a growth of 11.5 per
cent over the corresponding period of
2013.
The Tourist Visa on Arrival (TVoA)
scheme enabled by Electronic Travel
Authorisation (ETA), launched by the
Government of India on November 27,
2014 for 43 countries has led to a
growth of 1,214.9 percent recently.
For example, during the month of
January 2015, a total of 25,023 tourist
arrived by availing TVoA as
compared to 1,903 TVoA during the
month of January 2014.
Hospitality, a major segment of
tourism, has grown by 10-15 per cent
on the back of better consumer
sentiment with the change of
Government. As demand is going up
occupancies are improving.
According to estimates prepared by the
National Council for Applied Economic
Research, tourism contributes as much as
6.77% to India’s total Gross Domestic
Product through direct and indirect
impact. To put this in context, this is
nearly as much as India’s much touted
Information Technology-Business Process
Outsourcing industry, which contributes
around 7.5% to the economy according to
industry body NASSCOM.
The sector is no slacker when it comes to
employment either, according to the
study, entitled the Tourism Satellite
Account. “In terms of employment, this
TSA showed that direct share of
employment in tourism service industries
is 4.4% and if indirect share is also
included, this goes up to 10.2%,” the
study reported. “This implies almost
every 4th to 5th person employed in non-
agricultural activities is directly or
indirectly engaged in tourism activities.”
Investments
The tourism and hospitality sector is
among the top 15 sectors in India to
attract the highest foreign direct
investment (FDI). During the period April
2000-February 2015, this sector attracted
around US$ 7,862.08 million of FDI,
according to the data released by
Department of Industrial Policy and
Promotion (DIPP).
With the rise in the number of global
tourists and realising India’s potential,
many companies have invested in the
tourism and hospitality sector. Some of
the recent investments in this sector are
as follows:
US-based Vantage Hospitality Group
has signed a franchise agreement with
India-based Miraya Hotel
Management to establish its mid-
market brands in the country.
Lalit Suri Hospitality Group is soon
going to open its first international
hotel in London. The company has
acquired a heritage building called St
Olave's near Tower Bridge in central
London, which is now undergoing
restoration to be converted into a five
star hotel.
Thai firm Onyx Hospitality and
Kingsbridge India hotel asset
management firm have set up a joint
venture (JV) to open seven hotels in
the country by 2018 for which the JV
will raise US$ 100 million.
In Carlson Rezidor Hotel of
Guwahati, Dharmpal Satyapal has
invested close to Rs 300 crore (US$
47.51 million) in the hotel for which
they will get Rs 30 crore (US$ 4.75
million) annually.
ITC is planning to invest about Rs
9,000 crore (US$ 1.42 billion) in the
next three to four years to expand its
hotel portfolio to 150 hotels. ITC will
launch five other hotels - in
Mahabalipuram, Kolkata,
Ahmedabad, Hyderabad and Colombo
- by 2018.
Goldman Sachs, New-York based
multinational investment banking
fund, has invested Rs 255 crore (US$
40.37 million) in Vatika Hotels.
Government Initiatives
The Indian government has realised the
country’s potential in the tourism
industry and has taken several steps to
make India a global tourism hub. Some of
the major initiatives taken by the
Government of India to give a boost to the
tourism and hospitality sector of India are
as follows:
The Government of India has set aside
Rs 500 crore (US$ 79.17 million) for
the first phase of the National
Heritage City Development and
Augmentation Yojana (HRIDAY).
The 12 cities in the first phase are
Varanasi, Amritsar, Ajmer, Mathura,
Gaya, Kanchipuram, Vellankani,
Badami, Amaravati, Warangal, Puri
and Dwarka.
Under ‘Project Mausam’ the
Government of India has proposed to
establish cross cultural linkages and to
revive historic maritime cultural and
economic ties with 39 Indian Ocean
countries.
Prime Minister Shri Narendra Modi
has approved to enter into a
memorandum of understanding
(MoU) between India and Oman for
strengthening cooperation in the field
of tourism.
Announcement by Mr Arun Jaitley,
Minister of Finance, to extend Visa on
Arrival Facility (VOA) to 150
countries in stages from the current
43, is a big step to promote tourism.
The revenue from tourism sector can
be utilised for the development of the
country and can boost the economy of
country.
Road Ahead
India’s travel and tourism industry has
huge growth potential. The medical
tourism market in India is projected to
hit US$ 3.9 billion mark this year having
grown at a compounded annual growth
rate (CAGR) of 27 per cent over the last
three years, according to a joint report by
FICCI and KPMG.
Also, inflow of medical tourists is
expected to cross 320 million by 2015
compared with 85 million in 2012. The
tourism industry is also looking forward
to the E-visa scheme which is expected to
double the tourist inflow to India.
Enforcing the electronic travel
authorisation (ETA) before the next
tourism season, which starts in
November, will result in a clear jump of
at least 15 per cent, and this is only the
start, as per Mr Madhavan Menon,
Managing Director, Thomas Cook India.
ICRA ltd rating agency expects the
revenue growth of Indian hotel industry
strengthening to 9-11 per cent in 2015-16.
India is projected to be number one for
growth globally in the wellness tourism
sector in the next five years, clocking over
20 per cent gains annually through 2017,
according to a study conducted by SRI
International.
Following are the few benefits ensured by
the tourism industry in India GDP in
order to boost up the GDP of India:
The Indian tourism industry offers online
booking system, one of the basic proofs of
technological advancement in this sector.
These online bookings are applicable for
booking the air tickets via Internet by
logging on to the website and also booking
the hotel room of the place to be visited
The online tourism industry has
accounted for a turn over of USD
800 million which is apparently 14
percent of the entire travel and
tourism industry
The Role of Tourism Industry in
India GDP also features medical
tourism that includes traditional
therapies like yoga, meditation,
ayurveda, allopathy and other
conventional systems of medicines
is currently estimated at USD 333
million and is most likely to reach
USD 2.2 billion by the year 2012.
The contribution of travel and tourism to
the country's GDP is expected to rise by
7.5 per cent to Rs 2,34,145 crore this year.
Travel and tourism had contributed Rs
2,17,810 crore to the GDP in 2013,
showed a sectoral document for Tourism
and Hospitality sector under the 'Make In
India' campaign.
India has 28 World Heritage Sites and 25
bio-geographic zones. The country's big
coastline is dotted with a number of
attractive beaches. India ranked 13th
among 184 countries in terms of travel
and tourism's total contribution to gross
domestic product (GDP) in 2013. The
sector's direct contribution to GDP is
expected to grow at 6.4 per cent per
annum during 2014-2024 vis-à-vis the
world average of 4.2 per cent.
Over 6.8 million foreign tourist arrivals
were reported in 2013. Foreign tourist
arrivals (FTAs) increased at a compound
annual growth rate (CAGR) of 7.2 per
cent during 2005-2013. By 2024, FTAs are
expected to increase to 13.42 million.
Total foreign exchange earnings (FEEs)
from tourism grew to US$18.1 billion in
2013. FEEs increased at a CAGR of 11.7
per cent during 2005-2013.
The Government of India has set up a
Hospitality Development and Promotion
Board, which will monitor and facilitate
hotel project clearances/approvals. It has
also approved US$ 2.8 billion under the
12th Five-Year Plan for the development
of tourism infrastructure projects,
including rural tourism and human
resource development projects.
Strong growth in per capita income in the
country is driving the domestic tourism
market. A shift in demographics with a
rising young population is leading to
greater expenditure on leisure services.
The presence of world-class hospitals and
skilled medical professionals makes India
a preferred destination for medical
tourism. India's earnings from medical
tourism could exceed US$ 3.9 billion in
2014 from US$ 1.9 billion in 2011. Tour
operators are teaming up with hospitals
to tap this market.
The document listed a series of factors as
key drivers for tourism in the next
decade. s
The reason to invest in the sector is that,
"tourism in India accounts for 6.8 per
cent of the GDP and is the third largest
foreign exchange earner for the country",
it added
Look in for more details …..
http://www.business-
standard.com/article/pti-
stories/contribution-of-travel-
tourism-to-gdp-to-rise-by-7-5-in-
2014-114100200405_1.html
http://www.ibef.org/industry/touri
sm-hospitality-india.aspx
http://business.mapsofindia.com/in
dia-gdp/industries/tourism.html
http://www.yourarticlelibrary.com
/tourism/2-types-of-tourism-
international-and-domestic-
tourism/14100/
************************************
BRANDgyan:
“Travel the best way to be lost and
found all at the same time.”
Incredible India Campaign
The first marketing initiative of its
kind, Incredible India was
conceptualized in 2002 by V Sunil
(while he was Creative Director, O&M
Delhi), and Amitabh Kant, Joint
Secretary, Ministry of Tourism. The
primary objective of this branding
exercise was to create a distinctive
identity for the country. This resulted
in the iconic ”Incredible !ndia” logo,
where the exclamation mark that
formed the “I” of India was used to
great effect across all communications.
The campaign successfully established
India as a high-end tourist destination,
generating a 16% increase in tourist
traffic in the first year.
Vibrant culture, awe-inspiring tourist
spots, nature’s bounty, gourmet delights
and cordial people – there are thousands
of reasons that have made India a
traveller’s delight. With an aim to give a
boost to India’s tourism sector and
promote India in the International arena
as the most sought-after tourist
destination,
The Campaign:
In the campaign, India has been depicted
as a mesmerizing tourist destination with
various aspects of the country’s rich
culture, fascinating history, enthralling
traditions etc. being highlighted through
powerful visuals and information-rich
content. After receiving appreciation in
the international arena and capturing
interest of tourists across the world, the
campaign was also incorporated in
domestic tourism sector in the year 2009.
In line with its ‘Incredible India’
campaign, the Ministry of Tourism also
launched an educative campaign named
'Atithidevo Bhava' in the year 2008.
Endorsed by famous actor Amir Khan,
the campaign aimed at acquainting
common people with the right behaviour
and etiquette when it comes to dealing
with foreign tourists. Another important
aspect of the campaign was the effort to
instil a sense of responsibility among local
people regarding the preservation of
India's heritage sites and culture and
promoting cleanliness and hospitality in
the tourist places.
Impact:
The Incredible India campaign was well
received by travel industry veterans and
tour operators alike. Following the
campaign, a major surge has been noticed
in the tourism sector, leading the country
to tap unexpected growth with regard to
international tourist spending.
Now with the Ministry of Tourism
planning to redefine and reenergize the
brand India, the much-touted Incredible
India campaign is all set to have a new
lease of life in near future.
Atithi Devo Bhava Campaign:
Atithi Devo Bhavah is a Sanskrit verse
which simply means – consider the guest
as god. This value-laden statement is
drawn from an ancient scripture Hindu
religion which has always been the ethos
of Indian culture. Recently, this value
laden verse has found its place in the
tagline of Ministry of Tourism to improve
the treatment of the foreign tourists
coming in the country due to the
popularity India has gained in the recent
times as a favorite tourist destination.
The reasons for India becoming one of the
most sought destinations are not based on
some myth or chances. It is chiefly
because of the range of choices available
to the visiting tourists in the country in
terms of places, geographical locations,
rich historical art and artifacts, culture
and cuisines that attract more and more
tourists in India. There are beautiful
snow-capped mountains, deep valleys,
flanking coastlines and beaches, doons
and lakes, forts and monuments, forests
and wildlife sanctuaries and many other
places of high interests in the country. On
the top of it, the chanting of mantras, the
ancient practices of Yoga and spiritualism
in the air raises the level of curiosity
among the tourists to visit the spiritual
land.
Guest is God
“Atithi Devo Bhava” is part of the verse
mentioned in the Taittiriya Upanishad,
Shikshavalli I.20 that reads in full as:
matrudevo bhava; pitrudevo
bhava; acharyadevo bhava; atithidevo
bhava. The literal translation of the verse
would bring out the sense that an ideal
person should strive to "become a person
who considers the Mother as God, the
Father as God, the Teacher as God and
the guest as God."
“Tithi” in Sanskrit or even in Hindi
language means a (calendrical) date. “A-
tithi” means who does not have any date.
In olden times, there were no fast modes
of communication as compared to today
and thus if anyone wants to visit or meet
his near and dear ones, there were no
ways he could communicate his arrival.
So he used to pay visit without any
information and therefore in course of
time guest used to be called “athithi” one
who does not have any fixed time of
arrival. “Devo” in Sanskrit means God-
like and “bhava” means to
assume/understand. Atithi Devo Bhava
means to assume or understand a guest as
God-like and so pay respect and homage
in the similar way one would give to his
God.
Ritual or Puja
Once a guest is assumed to be God-like,
then comes the process he should be
treated. As the God is treated with
reverence and respect and there are
proper ways to show that respect, those
ways are called rituals. Similarly, the
guest should also be shown the respect
through the same rituals. In Hinduism,
these rituals comprise of five-steps which
is known as Panchopchara Puja. These
five rituals from the worship similarly
become the five “code of conduct” to be
followed while receiving guests which are
as follows:
Fragrance/Incence (Dhupa) - The
rooms must have a pleasant fragrance
while welcoming any guest because a
good fragrance will make guest in good
mood.
Earthen Lamp (Dipa) – Lighted
earthen lamp looks beautiful, fire is
considered pious and also a source of
light which disperses light so that
everything between guest and the host
is clearly visible.
Eatables (Naivedya) - Fruits and milk-
made sweets were given to guests for
refreshments.
Rice (Akshata) – Tilak is considered not
only a symbol of warm wishes but also
an expectation of well-being of the
person on whom it is applied. Made
from vermilion paste, tilak is put on the
forehead and rice grains are placed on
tilak. This is the most respectable form
of welcome in Indian Hindu families.
Flower Offering (Pushpa) - A flower
not only symbolizes freshness and but is
also a gesture of good will. It symbolizes
the sweet and enduring memories of the
visit between the host and the guest that
stay with them for several days.
Atithi Devo Bhavah Campaign
The government of India adopted the
ancient verse from the ancient Hindu
scripture to promote the increasing
tourism influx in the country. The tourists
had some complaints when they used to
visit the country like overcharging from
the vendors, misbehavior and unfriendly
attitude. Responding to the need of the
tourists, Ministry of Tourism came up
with the Social Awareness Campaign for
attitudinal and behavioural change
towards the tourists and so adopted the
part of the verse – athithi devo bhava
from the Indian scripture itself so that it
gives a psychological impact upon the
local populace to treat the guests with
love, respect and warmth.
The main aim of the government in this
nationwide “Atithi Devo Bhavah”
campaign is to sensitize key stakeholders
in the tourism industry through a process
of training & orientation. Extending it to
one notch further, the campaign takes
into account the general public as a whole
focusing on their attitudinal and
behavioural change. The campaign aims
to train and orient taxi drivers, guides,
police, immigration officers and other
personnel who are the first levels to
interact with the tourists. The different
stages in "Atithi Devo Bhavah" campaign
are Sensitization, Screening, Induction,
Certification and Feedback of key
stakeholders so that a process-chain is
created resulting into desired tourist-
friendly environment created over a
period of time.
The Union Ministry of Tourism has
chosen actor - Aamir Khan as brand
ambassador for the campaign of 'Atithi
Devo Bhavah' who endorses it at various
platforms across the mass media.
Home Stays
This Indian tradition of hospitality is
known the world over for its warmth and
affection. This exactly is the reason why
millions of tourists every year love to
come to India. Once in India, it would be
recommendable to stay in Indian homes if
there is opportunity because it is the place
where the real flavor of Indian hospitality
could be experienced. But even if such
opportunity is not there, there are no
reasons to feel sad as Indian
hotels provide similar warm hospitality
following the rich Indian tradition of
welcoming their guests with respect and
care.
Indian food and cuisines must be enjoyed
to its fullest once in India. The curries
and spices used in preparation of the food
are unique to India only. Indian sweets,
delicacies, and aroma of the spices used in
preparation of the Indian food are really
mouth-watering.
Indian people are considerate and
affectionate towards the guests. They are
generally friendly, of helping attitude and
hospitable. They give due care to provide
their guests with warm hospitality and
comfort. It is considered bad in India if
any guest goes with any kind of hard
feeling and so they never let a guest go
away unhappy from their home. The
tourists coming to receive everything
required to make stay pleasant and
memorable right from the splendid
tourists spot to the rich local cuisines to
the spiritual upliftment they achieve to
the warm hospitality given by the Indians.
Due to these reasons, it would not be an
exaggeration to say that the tourists
visiting India want to come back to India
again & again.
Source:
Discoveredindia.com
IATO.in
***********************************
Eco Tourism
“Tourism and Environment go hand in
hand . Influence of Environment on
Tourism can be seen in terms of Eco –
Tourism”
Eco-tourism is more than a catch phrase for
nature loving travel and recreation. Eco-
tourism is consecrated for preserving and
sustaining the diversity of the world's
natural and cultural environments. It
accommodates and entertains visitors in a
way that is minimally intrusive or
destructive to the environment and sustains
& supports the native cultures in the
locations it is operating in. Responsibility of
both travellers and service providers is the
genuine meaning for eco-tourism.
Eco-tourism also endeavours to encourage
and support the diversity of local economies
for which the tourism-related income is
important. With support from tourists, local
services and producers can compete with
larger, foreign companies and local families
can support themselves. Besides all these,
the revenue produced from tourism helps
and encourages governments to fund
conservation projects and training
programs.
Saving the environment around you and
preserving the natural luxuries and forest
life, that's what eco-tourism is all about.
Whether it's about a nature camp or
organizing trekking trips towards the
unspoilt and inaccessible regions, one
should always keep in mind not to create
any mishap or disturbance in the life cycle
of nature.
Eco-tourism focuses on local cultures,
wilderness adventures, volunteering,
personal growth and learning new ways to
live on our vulnerable planet. It is typically
defined as travel to destinations where the
flora, fauna, and cultural heritage are the
primary attractions. Responsible Eco-
tourism includes programs that minimize the
adverse effects of traditional tourism on the
natural environment, and enhance the
cultural integrity of local people. Therefore,
in addition to evaluating environmental and
cultural factors, initiatives by hospitality
providers to promote recycling, energy
efficiency, water reuse, and the creation of
economic opportunities for local
communities are an integral part of Eco-
tourism.
Historical, biological and cultural
conservation, preservation, sustainable
development etc. are some of the fields
closely related to Eco-Tourism. Many
professionals have been involved in
formulating and developing eco-tourism
policies. They come from the fields of
Geographic Information Systems, Wildlife
Management, Wildlife Photography, Marine
Biology and Oceanography, National and
State Park Management, Environmental
Sciences, Women in Development,
Historians and Archaeologists,etc.
Eco-tourism is considered the fastest
growing market in the tourism industry,
according to the World Tourism
Organization with an annual growth rate of
5% worldwide and representing 6% of the
world gross domestic product, 11.4% of all
consumer spending - not a market to be
taken lightly.
What is Eco-tourism?
Fundamentally, eco-tourism means making
as little environmental impact as possible
and helping to sustain the indigenous
populace, thereby encouraging the
preservation of wildlife and habitats when
visiting a place. This is responsible form of
tourism and tourism development, which
encourages going back to natural products in
every aspect of life. It is also the key to
sustainable ecological development.
Ecotourism in India
India, the land of varied geography offers
several tourist destinations that not just de-
stress but also rejuvenate you. There are
several ways to enjoy Mother Nature in
most pristine way. The few places like the
Himalayan Region, Kerala, the northeast
India, Andaman & Nicobar Islands and the
Lakshdweep islands are some of the places
where you can enjoy the treasured wealth of
the Mother Nature. Thenmala in Kerala is
the first planned ecotourism destination in
India created to cater to the Eco-tourists and
nature lovers.
The India topography boasts an abundant
source of flora & fauna. India has numerous
rare and endangered species in its
surroundings. The declaration of several
wildlife areas and national parks has
encouraged the growth of the wildlife
resource, which reduced due to the wildlife
hunt by several kings in the past. Today,
India has many wildlife sanctuaries and
protection laws. Currently, there are about
80 national parks and 441 sanctuaries in
India, which works for the protection and
conservation of wildlife resource in India.
There are numerous Botanical and
Zoological Gardens in India, which are
working towards the enhancement of the
Ecosystem. Poaching has stopped to large
extent. There are severe punishments for
poachers, hunters and illegal traders of
animals and trees. Tree plantation are taking
place in several places. There are several
animal & plant rights organisation, who
fight for the rights of the animals and plants.
Numerous organisations and NGOs are
coming forward to provide environmental
education to the common people at the grass
root level.
**********************************
Department of Commerce
Insight Volume I, Issue 4, May 2015
(Tourism)
I Tourism is a big employment generator for Indian’s.
II Incredible India Campaign
III Eco Tourism
Business News:
Tourism is a big employment generator for Indian’s.
.
Introduction
The Indian tourism and hospitality
industry has emerged as one of the key
drivers of growth among the services
sector in India. Tourism in India is a
potential game changer. It is a sun rise
industry, an employment generator, a
significant source of foreign exchange for
the country and an economic activity that
helps local and host communities.
The value of the brand to the consumer,
the growth in emerging markets, the
importance of consumer-facing
technology, and development and
retention of human capital have helped
shape the tourism industry over the past
five years.
The travel and tourism sector has
developed into an industry with an
annual economic report (direct, indirect
and induced) of around US$ 6.5 trillion
worldwide. The global hotel industry
generates approximately between US$
400-500 billion in revenue each year, one
third of that revenue is attributable to the
United States.
Market Size
The number of Foreign Tourist
Arrivals (FTAs) has grown steadily in
the last three years reaching around
7.46 million during January–
December 2014. Foreign exchange
earnings (FEEs) from tourism in
terms of US dollar grew by 7.1 per
cent during January-December 2014
as compared to 5.9 per cent over the
corresponding period of 2013. FTAs
during the Month of December 2014
were Rs 120,083 crore (US$ 19.02
billion) as compared to FTAs of Rs
107,671 crore (US$ 17.05 million)
during January-December 2013 over
the corresponding period of 2012.
There has been a growth of 6.8 per
cent in December 2014 over December
2013.
Foreign Exchange Earnings (FEEs)
during the month of December 2014
were Rs 12,875 crore (US$ 2.03
billion) as compared to Rs 11,994
crore (US$1.9 billion) in December
2013 and Rs 10,549 crore (US$1.67
billion) in December 2012.The growth
rate in FEEs in rupee terms in
December 2014 over December 2013
was 7.3 per cent. FEEs from tourism
in rupee terms during January-
December 2014 were Rs 120,083 (US$
1,902.53) with a growth of 11.5 per
cent over the corresponding period of
2013.
The Tourist Visa on Arrival (TVoA)
scheme enabled by Electronic Travel
Authorisation (ETA), launched by the
Government of India on November 27,
2014 for 43 countries has led to a
growth of 1,214.9 percent recently.
For example, during the month of
January 2015, a total of 25,023 tourist
arrived by availing TVoA as
compared to 1,903 TVoA during the
month of January 2014.
Hospitality, a major segment of
tourism, has grown by 10-15 per cent
on the back of better consumer
sentiment with the change of
Government. As demand is going up
occupancies are improving.
According to estimates prepared by the
National Council for Applied Economic
Research, tourism contributes as much as
6.77% to India’s total Gross Domestic
Product through direct and indirect
impact. To put this in context, this is
nearly as much as India’s much touted
Information Technology-Business Process
Outsourcing industry, which contributes
around 7.5% to the economy according to
industry body NASSCOM.
The sector is no slacker when it comes to
employment either, according to the
study, entitled the Tourism Satellite
Account. “In terms of employment, this
TSA showed that direct share of
employment in tourism service industries
is 4.4% and if indirect share is also
included, this goes up to 10.2%,” the
study reported. “This implies almost
every 4th to 5th person employed in non-
agricultural activities is directly or
indirectly engaged in tourism activities.”
Investments
The tourism and hospitality sector is
among the top 15 sectors in India to
attract the highest foreign direct
investment (FDI). During the period April
2000-February 2015, this sector attracted
around US$ 7,862.08 million of FDI,
according to the data released by
Department of Industrial Policy and
Promotion (DIPP).
With the rise in the number of global
tourists and realising India’s potential,
many companies have invested in the
tourism and hospitality sector. Some of
the recent investments in this sector are
as follows:
US-based Vantage Hospitality Group
has signed a franchise agreement with
India-based Miraya Hotel
Management to establish its mid-
market brands in the country.
Lalit Suri Hospitality Group is soon
going to open its first international
hotel in London. The company has
acquired a heritage building called St
Olave's near Tower Bridge in central
London, which is now undergoing
restoration to be converted into a five
star hotel.
Thai firm Onyx Hospitality and
Kingsbridge India hotel asset
management firm have set up a joint
venture (JV) to open seven hotels in
the country by 2018 for which the JV
will raise US$ 100 million.
In Carlson Rezidor Hotel of
Guwahati, Dharmpal Satyapal has
invested close to Rs 300 crore (US$
47.51 million) in the hotel for which
they will get Rs 30 crore (US$ 4.75
million) annually.
ITC is planning to invest about Rs
9,000 crore (US$ 1.42 billion) in the
next three to four years to expand its
hotel portfolio to 150 hotels. ITC will
launch five other hotels - in
Mahabalipuram, Kolkata,
Ahmedabad, Hyderabad and Colombo
- by 2018.
Goldman Sachs, New-York based
multinational investment banking
fund, has invested Rs 255 crore (US$
40.37 million) in Vatika Hotels.
Government Initiatives
The Indian government has realised the
country’s potential in the tourism
industry and has taken several steps to
make India a global tourism hub. Some of
the major initiatives taken by the
Government of India to give a boost to the
tourism and hospitality sector of India are
as follows:
The Government of India has set aside
Rs 500 crore (US$ 79.17 million) for
the first phase of the National
Heritage City Development and
Augmentation Yojana (HRIDAY).
The 12 cities in the first phase are
Varanasi, Amritsar, Ajmer, Mathura,
Gaya, Kanchipuram, Vellankani,
Badami, Amaravati, Warangal, Puri
and Dwarka.
Under ‘Project Mausam’ the
Government of India has proposed to
establish cross cultural linkages and to
revive historic maritime cultural and
economic ties with 39 Indian Ocean
countries.
Prime Minister Shri Narendra Modi
has approved to enter into a
memorandum of understanding
(MoU) between India and Oman for
strengthening cooperation in the field
of tourism.
Announcement by Mr Arun Jaitley,
Minister of Finance, to extend Visa on
Arrival Facility (VOA) to 150
countries in stages from the current
43, is a big step to promote tourism.
The revenue from tourism sector can
be utilised for the development of the
country and can boost the economy of
country.
Road Ahead
India’s travel and tourism industry has
huge growth potential. The medical
tourism market in India is projected to
hit US$ 3.9 billion mark this year having
grown at a compounded annual growth
rate (CAGR) of 27 per cent over the last
three years, according to a joint report by
FICCI and KPMG.
Also, inflow of medical tourists is
expected to cross 320 million by 2015
compared with 85 million in 2012. The
tourism industry is also looking forward
to the E-visa scheme which is expected to
double the tourist inflow to India.
Enforcing the electronic travel
authorisation (ETA) before the next
tourism season, which starts in
November, will result in a clear jump of
at least 15 per cent, and this is only the
start, as per Mr Madhavan Menon,
Managing Director, Thomas Cook India.
ICRA ltd rating agency expects the
revenue growth of Indian hotel industry
strengthening to 9-11 per cent in 2015-16.
India is projected to be number one for
growth globally in the wellness tourism
sector in the next five years, clocking over
20 per cent gains annually through 2017,
according to a study conducted by SRI
International.
Following are the few benefits ensured by
the tourism industry in India GDP in
order to boost up the GDP of India:
The Indian tourism industry offers online
booking system, one of the basic proofs of
technological advancement in this sector.
These online bookings are applicable for
booking the air tickets via Internet by
logging on to the website and also booking
the hotel room of the place to be visited
The online tourism industry has
accounted for a turn over of USD
800 million which is apparently 14
percent of the entire travel and
tourism industry
The Role of Tourism Industry in
India GDP also features medical
tourism that includes traditional
therapies like yoga, meditation,
ayurveda, allopathy and other
conventional systems of medicines
is currently estimated at USD 333
million and is most likely to reach
USD 2.2 billion by the year 2012.
The contribution of travel and tourism to
the country's GDP is expected to rise by
7.5 per cent to Rs 2,34,145 crore this year.
Travel and tourism had contributed Rs
2,17,810 crore to the GDP in 2013,
showed a sectoral document for Tourism
and Hospitality sector under the 'Make In
India' campaign.
India has 28 World Heritage Sites and 25
bio-geographic zones. The country's big
coastline is dotted with a number of
attractive beaches. India ranked 13th
among 184 countries in terms of travel
and tourism's total contribution to gross
domestic product (GDP) in 2013. The
sector's direct contribution to GDP is
expected to grow at 6.4 per cent per
annum during 2014-2024 vis-à-vis the
world average of 4.2 per cent.
Over 6.8 million foreign tourist arrivals
were reported in 2013. Foreign tourist
arrivals (FTAs) increased at a compound
annual growth rate (CAGR) of 7.2 per
cent during 2005-2013. By 2024, FTAs are
expected to increase to 13.42 million.
Total foreign exchange earnings (FEEs)
from tourism grew to US$18.1 billion in
2013. FEEs increased at a CAGR of 11.7
per cent during 2005-2013.
The Government of India has set up a
Hospitality Development and Promotion
Board, which will monitor and facilitate
hotel project clearances/approvals. It has
also approved US$ 2.8 billion under the
12th Five-Year Plan for the development
of tourism infrastructure projects,
including rural tourism and human
resource development projects.
Strong growth in per capita income in the
country is driving the domestic tourism
market. A shift in demographics with a
rising young population is leading to
greater expenditure on leisure services.
The presence of world-class hospitals and
skilled medical professionals makes India
a preferred destination for medical
tourism. India's earnings from medical
tourism could exceed US$ 3.9 billion in
2014 from US$ 1.9 billion in 2011. Tour
operators are teaming up with hospitals
to tap this market.
The document listed a series of factors as
key drivers for tourism in the next
decade. s
The reason to invest in the sector is that,
"tourism in India accounts for 6.8 per
cent of the GDP and is the third largest
foreign exchange earner for the country",
it added
Look in for more details …..
http://www.business-
standard.com/article/pti-
stories/contribution-of-travel-
tourism-to-gdp-to-rise-by-7-5-in-
2014-114100200405_1.html
http://www.ibef.org/industry/touri
sm-hospitality-india.aspx
http://business.mapsofindia.com/in
dia-gdp/industries/tourism.html
http://www.yourarticlelibrary.com
/tourism/2-types-of-tourism-
international-and-domestic-
tourism/14100/
************************************
BRANDgyan:
“Travel the best way to be lost and
found all at the same time.”
Incredible India Campaign
The first marketing initiative of its
kind, Incredible India was
conceptualized in 2002 by V Sunil
(while he was Creative Director, O&M
Delhi), and Amitabh Kant, Joint
Secretary, Ministry of Tourism. The
primary objective of this branding
exercise was to create a distinctive
identity for the country. This resulted
in the iconic ”Incredible !ndia” logo,
where the exclamation mark that
formed the “I” of India was used to
great effect across all communications.
The campaign successfully established
India as a high-end tourist destination,
generating a 16% increase in tourist
traffic in the first year.
Vibrant culture, awe-inspiring tourist
spots, nature’s bounty, gourmet delights
and cordial people – there are thousands
of reasons that have made India a
traveller’s delight. With an aim to give a
boost to India’s tourism sector and
promote India in the International arena
as the most sought-after tourist
destination,
The Campaign:
In the campaign, India has been depicted
as a mesmerizing tourist destination with
various aspects of the country’s rich
culture, fascinating history, enthralling
traditions etc. being highlighted through
powerful visuals and information-rich
content. After receiving appreciation in
the international arena and capturing
interest of tourists across the world, the
campaign was also incorporated in
domestic tourism sector in the year 2009.
In line with its ‘Incredible India’
campaign, the Ministry of Tourism also
launched an educative campaign named
'Atithidevo Bhava' in the year 2008.
Endorsed by famous actor Amir Khan,
the campaign aimed at acquainting
common people with the right behaviour
and etiquette when it comes to dealing
with foreign tourists. Another important
aspect of the campaign was the effort to
instil a sense of responsibility among local
people regarding the preservation of
India's heritage sites and culture and
promoting cleanliness and hospitality in
the tourist places.
Impact:
The Incredible India campaign was well
received by travel industry veterans and
tour operators alike. Following the
campaign, a major surge has been noticed
in the tourism sector, leading the country
to tap unexpected growth with regard to
international tourist spending.
Now with the Ministry of Tourism
planning to redefine and reenergize the
brand India, the much-touted Incredible
India campaign is all set to have a new
lease of life in near future.
Atithi Devo Bhava Campaign:
Atithi Devo Bhavah is a Sanskrit verse
which simply means – consider the guest
as god. This value-laden statement is
drawn from an ancient scripture Hindu
religion which has always been the ethos
of Indian culture. Recently, this value
laden verse has found its place in the
tagline of Ministry of Tourism to improve
the treatment of the foreign tourists
coming in the country due to the
popularity India has gained in the recent
times as a favorite tourist destination.
The reasons for India becoming one of the
most sought destinations are not based on
some myth or chances. It is chiefly
because of the range of choices available
to the visiting tourists in the country in
terms of places, geographical locations,
rich historical art and artifacts, culture
and cuisines that attract more and more
tourists in India. There are beautiful
snow-capped mountains, deep valleys,
flanking coastlines and beaches, doons
and lakes, forts and monuments, forests
and wildlife sanctuaries and many other
places of high interests in the country. On
the top of it, the chanting of mantras, the
ancient practices of Yoga and spiritualism
in the air raises the level of curiosity
among the tourists to visit the spiritual
land.
Guest is God
“Atithi Devo Bhava” is part of the verse
mentioned in the Taittiriya Upanishad,
Shikshavalli I.20 that reads in full as:
matrudevo bhava; pitrudevo
bhava; acharyadevo bhava; atithidevo
bhava. The literal translation of the verse
would bring out the sense that an ideal
person should strive to "become a person
who considers the Mother as God, the
Father as God, the Teacher as God and
the guest as God."
“Tithi” in Sanskrit or even in Hindi
language means a (calendrical) date. “A-
tithi” means who does not have any date.
In olden times, there were no fast modes
of communication as compared to today
and thus if anyone wants to visit or meet
his near and dear ones, there were no
ways he could communicate his arrival.
So he used to pay visit without any
information and therefore in course of
time guest used to be called “athithi” one
who does not have any fixed time of
arrival. “Devo” in Sanskrit means God-
like and “bhava” means to
assume/understand. Atithi Devo Bhava
means to assume or understand a guest as
God-like and so pay respect and homage
in the similar way one would give to his
God.
Ritual or Puja
Once a guest is assumed to be God-like,
then comes the process he should be
treated. As the God is treated with
reverence and respect and there are
proper ways to show that respect, those
ways are called rituals. Similarly, the
guest should also be shown the respect
through the same rituals. In Hinduism,
these rituals comprise of five-steps which
is known as Panchopchara Puja. These
five rituals from the worship similarly
become the five “code of conduct” to be
followed while receiving guests which are
as follows:
Fragrance/Incence (Dhupa) - The
rooms must have a pleasant fragrance
while welcoming any guest because a
good fragrance will make guest in good
mood.
Earthen Lamp (Dipa) – Lighted
earthen lamp looks beautiful, fire is
considered pious and also a source of
light which disperses light so that
everything between guest and the host
is clearly visible.
Eatables (Naivedya) - Fruits and milk-
made sweets were given to guests for
refreshments.
Rice (Akshata) – Tilak is considered not
only a symbol of warm wishes but also
an expectation of well-being of the
person on whom it is applied. Made
from vermilion paste, tilak is put on the
forehead and rice grains are placed on
tilak. This is the most respectable form
of welcome in Indian Hindu families.
Flower Offering (Pushpa) - A flower
not only symbolizes freshness and but is
also a gesture of good will. It symbolizes
the sweet and enduring memories of the
visit between the host and the guest that
stay with them for several days.
Atithi Devo Bhavah Campaign
The government of India adopted the
ancient verse from the ancient Hindu
scripture to promote the increasing
tourism influx in the country. The tourists
had some complaints when they used to
visit the country like overcharging from
the vendors, misbehavior and unfriendly
attitude. Responding to the need of the
tourists, Ministry of Tourism came up
with the Social Awareness Campaign for
attitudinal and behavioural change
towards the tourists and so adopted the
part of the verse – athithi devo bhava
from the Indian scripture itself so that it
gives a psychological impact upon the
local populace to treat the guests with
love, respect and warmth.
The main aim of the government in this
nationwide “Atithi Devo Bhavah”
campaign is to sensitize key stakeholders
in the tourism industry through a process
of training & orientation. Extending it to
one notch further, the campaign takes
into account the general public as a whole
focusing on their attitudinal and
behavioural change. The campaign aims
to train and orient taxi drivers, guides,
police, immigration officers and other
personnel who are the first levels to
interact with the tourists. The different
stages in "Atithi Devo Bhavah" campaign
are Sensitization, Screening, Induction,
Certification and Feedback of key
stakeholders so that a process-chain is
created resulting into desired tourist-
friendly environment created over a
period of time.
The Union Ministry of Tourism has
chosen actor - Aamir Khan as brand
ambassador for the campaign of 'Atithi
Devo Bhavah' who endorses it at various
platforms across the mass media.
Home Stays
This Indian tradition of hospitality is
known the world over for its warmth and
affection. This exactly is the reason why
millions of tourists every year love to
come to India. Once in India, it would be
recommendable to stay in Indian homes if
there is opportunity because it is the place
where the real flavor of Indian hospitality
could be experienced. But even if such
opportunity is not there, there are no
reasons to feel sad as Indian
hotels provide similar warm hospitality
following the rich Indian tradition of
welcoming their guests with respect and
care.
Indian food and cuisines must be enjoyed
to its fullest once in India. The curries
and spices used in preparation of the food
are unique to India only. Indian sweets,
delicacies, and aroma of the spices used in
preparation of the Indian food are really
mouth-watering.
Indian people are considerate and
affectionate towards the guests. They are
generally friendly, of helping attitude and
hospitable. They give due care to provide
their guests with warm hospitality and
comfort. It is considered bad in India if
any guest goes with any kind of hard
feeling and so they never let a guest go
away unhappy from their home. The
tourists coming to receive everything
required to make stay pleasant and
memorable right from the splendid
tourists spot to the rich local cuisines to
the spiritual upliftment they achieve to
the warm hospitality given by the Indians.
Due to these reasons, it would not be an
exaggeration to say that the tourists
visiting India want to come back to India
again & again.
Source:
Discoveredindia.com
IATO.in
***********************************
Eco Tourism
“Tourism and Environment go hand in
hand . Influence of Environment on
Tourism can be seen in terms of Eco –
Tourism”
Eco-tourism is more than a catch phrase for
nature loving travel and recreation. Eco-
tourism is consecrated for preserving and
sustaining the diversity of the world's
natural and cultural environments. It
accommodates and entertains visitors in a
way that is minimally intrusive or
destructive to the environment and sustains
& supports the native cultures in the
locations it is operating in. Responsibility of
both travellers and service providers is the
genuine meaning for eco-tourism.
Eco-tourism also endeavours to encourage
and support the diversity of local economies
for which the tourism-related income is
important. With support from tourists, local
services and producers can compete with
larger, foreign companies and local families
can support themselves. Besides all these,
the revenue produced from tourism helps
and encourages governments to fund
conservation projects and training
programs.
Saving the environment around you and
preserving the natural luxuries and forest
life, that's what eco-tourism is all about.
Whether it's about a nature camp or
organizing trekking trips towards the
unspoilt and inaccessible regions, one
should always keep in mind not to create
any mishap or disturbance in the life cycle
of nature.
Eco-tourism focuses on local cultures,
wilderness adventures, volunteering,
personal growth and learning new ways to
live on our vulnerable planet. It is typically
defined as travel to destinations where the
flora, fauna, and cultural heritage are the
primary attractions. Responsible Eco-
tourism includes programs that minimize the
adverse effects of traditional tourism on the
natural environment, and enhance the
cultural integrity of local people. Therefore,
in addition to evaluating environmental and
cultural factors, initiatives by hospitality
providers to promote recycling, energy
efficiency, water reuse, and the creation of
economic opportunities for local
communities are an integral part of Eco-
tourism.
Historical, biological and cultural
conservation, preservation, sustainable
development etc. are some of the fields
closely related to Eco-Tourism. Many
professionals have been involved in
formulating and developing eco-tourism
policies. They come from the fields of
Geographic Information Systems, Wildlife
Management, Wildlife Photography, Marine
Biology and Oceanography, National and
State Park Management, Environmental
Sciences, Women in Development,
Historians and Archaeologists,etc.
Eco-tourism is considered the fastest
growing market in the tourism industry,
according to the World Tourism
Organization with an annual growth rate of
5% worldwide and representing 6% of the
world gross domestic product, 11.4% of all
consumer spending - not a market to be
taken lightly.
What is Eco-tourism?
Fundamentally, eco-tourism means making
as little environmental impact as possible
and helping to sustain the indigenous
populace, thereby encouraging the
preservation of wildlife and habitats when
visiting a place. This is responsible form of
tourism and tourism development, which
encourages going back to natural products in
every aspect of life. It is also the key to
sustainable ecological development.
Ecotourism in India
India, the land of varied geography offers
several tourist destinations that not just de-
stress but also rejuvenate you. There are
several ways to enjoy Mother Nature in
most pristine way. The few places like the
Himalayan Region, Kerala, the northeast
India, Andaman & Nicobar Islands and the
Lakshdweep islands are some of the places
where you can enjoy the treasured wealth of
the Mother Nature. Thenmala in Kerala is
the first planned ecotourism destination in
India created to cater to the Eco-tourists and
nature lovers.
The India topography boasts an abundant
source of flora & fauna. India has numerous
rare and endangered species in its
surroundings. The declaration of several
wildlife areas and national parks has
encouraged the growth of the wildlife
resource, which reduced due to the wildlife
hunt by several kings in the past. Today,
India has many wildlife sanctuaries and
protection laws. Currently, there are about
80 national parks and 441 sanctuaries in
India, which works for the protection and
conservation of wildlife resource in India.
There are numerous Botanical and
Zoological Gardens in India, which are
working towards the enhancement of the
Ecosystem. Poaching has stopped to large
extent. There are severe punishments for
poachers, hunters and illegal traders of
animals and trees. Tree plantation are taking
place in several places. There are several
animal & plant rights organisation, who
fight for the rights of the animals and plants.
Numerous organisations and NGOs are
coming forward to provide environmental
education to the common people at the grass
root level.
**********************************
Department of Commerce
Insight June 2015
I. Performance Evaluation
PE is a multipurpose tool used to measure actual performance against expected performance, provide an opportunity for the employee and the supervisor to discuss job performance. Identify employee training and development needs and plan for career growth. Annual performance reviews are a key component of employee development.
PE is a Formal determination of an individual’s job related action and their
outcomes within a particular position or setting.
In financial trading its objective is to assess the extent to which the individual added
wealth to the firm and / or her achievement was above or below the market or
industry norms also called performance measurement.
Performance evaluation is a constructive process to acknowledge the performance of
a non-probationary career employee.
An employee’s evaluation shall be sufficiently specific to inform and guide the
employee in the performance of his/her duties.
The performance review is intended to be a fair and balanced assessment of an
employee’s performance.
It is basically done to,
A) Discuss the job performance
B) Set goals for professional development
C) Establish objectives for the employees to contribute to the organisational goal.
And discuss expectations and accomplishment needed for promotion and
compensation.
D) Identifying the training needs, disciplinary actions to be taken and deciding
the career goals of the employees etc.
The article by Cristina Simon on ‘ The Many Pitfalls of Performance
Evaluation’ In Economic Times Corporate Dossier exhibits a totally
different insight in to Performance Evaluation.
The article is an interesting read.
http://www.ecoti.ms\6ePAGZ
II. Indian Goods Fail to Gain Entry in US
The US Food and Drug Administration (USFDA) has rejected more than 2100
Import batches from India, in the past one year. The products range food
items and personal care to health supplements manufactured by leading
companies like HUL, Britannia, Nestle India, Haldiram, Heinz India and MTR
Foods.
The USFDA stated the following reasons for rejections:
• Unhygienic manufacturing conditions.
• Found pesticides content above permissible limits.
• Labeling issues.
On the other side Indian exporting companies put up very weak defenses in
support of their exports.
• Exports by unauthorized third party importers.
• Manufactured in plants those were not supposed to manufacture for
the US market.
• Companies argued that rejected products were not shipped directly by
them.
53 consignments of Haldiram Company were rejected by the USFDA in the
month of May, 2015 due to presence of high level of pesticides content in
snacks and sweets, inadequate processing and packaging done in unhygienic
conditions.
Food safety has become a burning issue in India after samples of Maggi
noodles tested positive for lead content, MSG in absence of its mention on
Maggi content labels. In view of the fact that lead has a very serious effects on
consumers health. Indian Government would not only be justified in calling a
ban of Maggi noodles but also claiming heavy compensation / damages for
food adulteration, misleading labeling and misleading advertising and
consequent damage caused to the health of Indian consumers. Nestle
company cannot challenge the lab findings as the samples are tested in several
government labs across states.
Defenses put forward by Swiss company Nestle reflects lack of scruples on the
part of multinational who adhere to safety norms in their own countries,
failing which they would not only be shut down but also be required to pay
exorbitant damages. MNCs thrust sub-standard products in third world and
developing countries like India, which are perceived as soft states. India, being
the most vibrant democracy and on its march to be a world power cannot
afford go soft on these MNCs. A mere ban would do a little deter for violation
of food and safety standards in future. Developed countries cannot maintain
double standards wherein they reject exports from developing countries on
the slightest of discrepancy in labels, whereas they expect food articles to be
thrust on developing countries irrespective of food and safety norms.
Rejections of consignments by the USFDA are an important issue which needs
to be addressed. Following of food and safety norms should not be restricted
to only while exporting to the US, rather these MNCs as well as Indian
Companies must follow the same quality standards when they manufacture
and supply products to Indian consumers. It is high time that FDA should
take strict actions against companies for violating food and safety standards.
(Source: The Economic Times, June 13, 2015, page no. 1 &3)
III. Changing face of Business Technology Enhanced productivity, efficiency & profitability is the buzzword for business enterprises in today's globalised world. Thereby reducing costs & wastage, increasing speed, accuracy & consistency in production seems to be in vogue. Magnifying the situation is the heightened expectations of consumers for better quality, consistent & reliable products. Technology orientation seems to be the answer to this quest for competitive success. Technology is therefore increasingly a part of all sectors of businesses today. Be it dairy farming, food processing, spinning & weaving, materials handling, pharmaceutical or automobile industry, electronics, logistics, banking, customer services, technology seems to have replaced human resources. Standalone kiosks, automated call centres, automated teller machines, touch-tone phone systems & web portals have transformed the traditional way businesses & customers interacted. But increased dependence on technology seems to have belittled the role of Employees involved in the business processes. Businesses in the past depended primarily on its employees for its processes. Technology was a mere tool to support the employees. But in the current scenario, with companies putting their trust on Modern Technology, there seems to be a role interchange, with employees' role being reduced to a level of supporting the technology implemented. Moreover the technology oriented approach of businesses has led to a surge in demand for people who can help in development, maintenance,support & upgradation of technology oriented production, distribution & customer interaction systems. In other words, businesses today are on the lookout for technology-friendly people ie employees who can support technology oriented production & distribution systems, rather than people-friendly technology ie benign technology which just acts as a support for its employees. Mr. Devdutt Pattanaik throws light on this changing scenario in the Indian business world in his article titled 'Plug & Play Yantra' in The Economic Times dated 12th June 2015.
Link: http://economictimes.indiatimes.com/magazines/corporate-dossier/firms-increasingly-want-tech-friendly-people-rather-than-people-friendly-technology/articleshow/47628194.cms
IV. Monsoon : The Whole Soul of the Indian Economy
India is always known for its inequality say for service sector contributes about 57% to GDP and employs 25% of the Indian workforce , whereas agricultural sector contributes 17% to GDP but employs almost 2/3rd of the Indians .
This data signifies the role of monsoon as a key determinant for the overall economic growth of the nation as it effects the purchasing capacity of those who depend on agricultural activity.
Indian meteorological departments prediction of seasonal rainfall at just 88% of LAP for 2015 is seems to be disproved with the good start to the monsoon. The biggest pay off could be low food inflation .
Indian’s trillion dollar economy heavily depends on monsoon which helps in boosting the agricultural output and help govt in controlling rising inflation. If monsoon delays by some number of days or below normal rainfall could spell disaster making food more expensive , power and water shortage , hitting industrial production pressurizing the govt. kitty for subsidy which is the strong financial implication and social implication with respect to farmers suicidal cases increases .
Good monsoon is associated with two factors.
1)Food inflation remains under control which is alround benefit and
2)Rural consumption rises benefitting both FMCG’s and white goods manufacturer as business today depends on rural market for sales.
Stocks, bonds , rupee-all will rally due to good rainfall. Indian imports to reduce favouring Balance of Payment.
Discretionary income of the urban will increase due to modest inflation leaving more demand for Luxury goods.
However the major loss is of UPA and APP parties as they will have to find some other political gimmick against Modi’s government.
V. How to engage in influencer marketing: The
controversy and the opportunity
Brands are increasingly tapping into word-of-mouth recommendations and well-read
bloggers in social media interactions. But big questions remain around influencer
marketing
Social media and digital interaction have handed brands exponential opportunity to
target and interact with individuals in a relevant way. They’ve also opened up a new
avenue of third-party content creation and engagement that’s gaining attention – for
both the right and wrong reasons.
‘Influencer marketing’, or the art of tapping into well-known and well-read bloggers
and consumers within certain communities to promote products, raise brand
awareness and drive conversions, is taking off.Plenty of brands are singing the
praises of influencer marketing, too. Sony, for example, has put an emphasis on
word-of-mouth marketing in recent years and seen triple-digit conversion rates as a
result. Champagne brand, Piper-Heidsieck, also turned to social influencers to
reposition the brand as an affordable luxury for everyday moments. But while there’s
plenty of momentum, influencer marketing is also courting plenty of controversy.
The big issue is disclosure around brands engaging – and often paying – an
influencer to become their next brand ambassador.
What makes an ‘influencer’ is the first point that needs clarification. Head of digital
at Ogilvy public relations, Craig Page, describes influencers as anyone with an
audience.
“They could be a blogger, a YouTube content creator, a well-known person with a
significant number of twitter followers, and of course, journalists, analysts or
consultants,” he says. “In theory, everyone with a Facebook account and some friends
has some level of influence, but we tend to reserve the term ‘influencer’ for those who
either have an audience that is very large and relevant to a certain organisation,
brand, topic or subject, or very passionate about the influencer and their content.”
The main reason we’re seeing so much influencer marketing activity right now, and
why it’s so important, is because of the shift from one-way, broadcast communication
strategies, to a more complex marketing ecosystem where some consumers now have
more influence than the brands themselves.
What’s changed is there are now many more influencers, and the consequences can
be widespreadAt the end of the day, you can’t escape the fact that we’re all living in a
global environment where the consumer’s voice and opinion is heard more, and
therefore makes more of an impact than it ever did. Brands should ignore this at
their peril.
(Article is authored by Nadia Cameron, taken from CMO.com)
For full article visit http://www.cmo.com.au/article/577875/how-
engage-influencer-marketing-controversy-opportunity/)
Green Diary
Editorial
The Environmental section of the Department of
Commerce, is back with the 1st edition of Green
Diaries, the E-bulletin of the EVS department for the
academic year 2015-16. Since it’s the monsoon period
and rains have already set in, so the theme for this
month - The Monsoons!
I hope you’ll enjoy reading this bulletin.
Happy Reading!
-Siddhant Bhide.
Editor.
Contents
I. Editorial
II. World Environment Day 2015.
III. Recent News
IV. Monsoon in India
V. National Park of the Month.
VI. Important Environmental Days in June.
World Environment Day 2015
World Environment Day (WED) is the United Nations’ principal vehicle
for encouraging worldwide awareness and action for the environment.
Over the years it has grown to be a broad, global platform for public
outreach that is widely celebrated by stakeholders in over 100 countries.
It also serves as the ‘people’s day’ for doing something positive for the
environment, galvanizing individual actions into a collective power that
generates an exponential positive impact on the planet.
The WED theme this year is "Seven Billion Dreams. One Planet. Consume
with Care." The well-being of humanity, the environment, and the
functioning of the economy, ultimately depend upon the responsible
management of the planet’s natural resources. And yet, evidence is
building that people are consuming far more natural resources than
what the planet can sustainably provide.
Many of the Earth’s ecosystems are nearing critical tipping points of
depletion or irreversible change, pushed by high population growth and
economic development. By 2050, if current consumption and production
patterns remain the same and with a rising population expected to reach
9.6 billion, we will need three planets to sustain our ways of living and
consumption.
Consuming with care means living within planetary boundaries to ensure
a healthy future where our dreams can be realized. Human prosperity
need not cost the earth. Living sustainably is about doing more and
better with less. It is about knowing that rising rates of natural resource
use and the environmental impacts that occur are not a necessary by-
product of economic growth.
Do You Know?
The Ministry of Environment and Forests in 2014
was renamed as Ministry of Environment, Forests
and Climate Change. Mr Prakash Javdekar is the
Current Minister for the above ministry.
Monsoon in India
-Vaishali N Kurhekar
“Kale Megha, Kale Megha Paani to barsao” a popular song from the popular movie signifies
the mood of all Indians in the month of June. MONSOON the word derived from Arabic
word ‘Mausam’ or from the Malayan ‘monsin’ meaning ‘season’. Thus the monsoons are the
seasonal winds which reverse their direction of flow with the change of season. They flow
from sea to land during the summer and the from land to sea during winter. They flow from
sea to land in summer and land to sea during winter. In other words, the monsoon is a
double system of seasonal winds, that is, the sum of summer and winter winds.
According to A.A.Rama Sastry, “Monsoons are large scale seasonal wind systems flowing
over vast areas of the globe, persistently in the same direction, only to be reversed with the
change of season.”
Monsoon in the country can be divided into South-West monsoon and North-East monsoon. South-West monsoon: The south-western summer monsoons occur from July through September. The Thar Desert and adjoining areas of the northern and central Indian subcontinent heats up considerably during the hot summers. This causes a low pressure area over the northern and central Indian subcontinent. To fill this void, the moisture-laden winds from the Indian Ocean rush in to the subcontinent. These winds, rich in moisture, are drawn towards the Himalayas. The Himalayas act like a high wall, blocking the winds from passing into Central Asia, and forcing them to rise. As the clouds rise their temperature drops and precipitation occurs. Some areas of the subcontinent receive up to 10,000 mm (390 in) of rain annually.
The southwest monsoon is generally expected to begin around the beginning of June and fade away by the end of September. The moisture-laden winds on reaching the southernmost point of the Indian Peninsula, due to its topography, become divided into two parts: the Arabian Sea Branch and the Bay of Bengal Branch.
The Arabian Sea Branch of the Southwest Monsoon first hits the Western Ghats of the coastal state of Kerala, India, thus making this area the first state in India to receive rain from the Southwest
The Arabian Sea Branch of the Southwest Monsoon first hits the Western Ghats of the coastal state of Kerala, India, thus making this area the first state in India to receive rain from the Southwest Monsoon. This branch of the monsoon moves northwards along the
Western Ghats (Konkan and Goa) with precipitation on coastal areas, west of the Western Ghats. The eastern areas of the Western Ghats do not receive much rain from this monsoon as the wind does not cross the Western Ghats.
The Bay of Bengal Branch of Southwest Monsoon flows over the Bay of Bengal heading towards North-East India and Bengal, picking up more moisture from the Bay of Bengal. The winds arrive at the Eastern Himalayas with large amounts of rain. Mawsynram and Cherrapunji, situated on the southern slopes of the Khasi Hills in Meghalaya, India, is one of the wettest places on Earth. After the arrival at the Eastern Himalayas, the winds turns towards the west, travelling over the Indo-Gangetic Plain at a rate of roughly 1–2 weeks per state, pouring rain all along its way. June 1 is regarded as the date of onset of the monsoon in India, as indicated by the arrival of the monsoon in the southernmost state of Kerala.
The monsoon accounts for 80% of the rainfall in India. Indian agriculture (which accounts for 25% of the GDP and employs 70% of the population) is heavily dependent on the rains, for growing crops especially like cotton, rice, oilseeds and coarse grains. A delay of a few days in the arrival of the monsoon can badly affect the economy, as evidenced in the numerous droughts in India in the 1990s. North-East monsoon Around September, with the sun fast retreating south, the northern land mass of the Indian subcontinent begins to cool off rapidly. With this air pressure begins to build over northern India, the Indian Ocean and its surrounding atmosphere still holds its heat. This causes cold wind to sweep down from the Himalayas and Indo-Gangetic Plain towards the vast spans of the Indian Ocean south of the Deccan peninsula. This is known as the Northeast Monsoon or Retreating Monsoon.
While travelling towards the Indian Ocean, the dry cold wind picks up some moisture from the Bay of Bengal and pours it over peninsular India and parts of Sri Lanka. Cities like Chennai, which get less rain from the Southwest Monsoon, receives rain from this Monsoon. About 50% to 60% of the rain received by the state of Tamil Nadu is from the Northeast Monsoon. In Southern Asia, the north-eastern monsoons take place from December to early March when the surface high-pressure system is strongest The jet stream in this region splits into the southern subtropical jet and the polar jet. The subtropical flow directs north-easterly winds to blow across southern Asia, creating dry air streams which produce clear skies over India. Meanwhile, a low pressure system develops over South-East Asia and Australasia and winds are directed toward Australia known as a monsoon trough.
Currently the monsoon rains are predicted by the Indian Metrological Department in the month of February well in advance for the farmers, planners, industrialists and so on. These predictions are based on the 15 parameters, which are both global and regional. These are divided into four broad categories:
a) Temperature related parameters:
El Nino in the current year
El Nino in previous year
Northern India (March)
East coast of India (March)
Central India (May)
Northern hemisphere (Jan and Feb) b) Wind related parameters
500 hPa (1 hecta pascal equals 1 mili bar) ridge (April)
50 hPa ridge trough extent (Jan and Feb)
10 hPa (30 km ) westerly wind (Jan) c) Pressure anomaly
Tahiti-Darwin (Spring)
Darwin (Spring)
South America, Argenmtina (April)
Indian Ocean Equatorial (Jan - May) d) Snow cover related parameters
Himalayan (Jan- March)
Eurasian (Previous December)
It was observed in late eighties that whenever more than 50% parameters showed the favorable signals, the monsoon rainfall in India was normal and when 70% or more parameters were favorable, the monsoon rainfall was above normal. One more parameter, surface pressure anomaly of north-eastern hemisphere was also added later on thus making a total of 16 parameters for Monsoon prediction.
Recent News
Forest Dept bans home stay near Gir sanctuary
TNN | Jun 18, 2015, 05.39 AM IST
AHMEDABAD: As part of the new ecotourism policy to be tabled before the Gujarat high court before June 24, the forest department has decided to put a ban on commercial establishments from getting home stay approval within the periphery of the Sasan Gir sanctuary especially in the eco-sensitive zones. The tourism department, meanwhile, has also ordered a review of permission given to farm houses and guesthouses around the Gir forest. TOI had on Wednesday reported on how farm houses and guesthouses despite being banned by the high court had been granted approval as home stays by the department of tourism without consulting the forest department. The tourism department went into a huddle after the report was published. When contacted, the forest department said, the state government has been asked to formulate an ecotourism policy for the Gir sanctuary and submit it to the high court by June 24, wherein the department is likely to ban home stay approval of commercial establishments. "The department is not likely to permit home stay even if the establishments have only six rooms. The forest department was helpless as these guesthouses and farm houses had the approval of the tourism department, said an official
of the forest department. He adds, "We will be recommending that only genuine home users be able to use the home stay policy. The forest department will not permit home stay for commercial establishments within a two kilometre periphery of Gir." When contacted, N Srivastava, the managing director of the Tourism Corporation of Gujarat said, "We have set up a third party review to probe the permissions granted to the establishments. They will work in collaboration with a specially appointed committee of the forest department to chalk out the new policy.
National Park of the Month
Tadoba National Park
Tadoba National Park, also known as Tadoba Andhari Tiger
Project, was established in 1955 as a part of Project Tiger.
The name 'Tadoba' is the name of the God "Tadoba" or
"Taru", praised by the tribal people who live in the dense
forests of the Tadoba and Andhari region, while the Andhari
River that meanders through the forest. gives the 'Andhari'
name.
It is the largest National Park in Maharashtra.
Factfile
Name Tadoba National Park Also Known As Andhari National Park,
Tadoba Andhari Tiger Project
Located Chandrapur, Maharashtra.
Area 1727 sq. km.
Flora Dry Deciduous Forest
Fauna Bengal Tiger, Honey Badger, Nilgai, Chital, Leopards,
Sambar, Marsh Crocodile, Russel Viper,
Major Attractions Jungle Safari Trips, Royal Bengal Tiger reserve.
Tiger at Tadoba Sambar Deer
Important Days in June
June 5 World Environment Day - On this day, in 1972, the Stockholm
Conference on Human Environment was held in Sweden. There was a large
gathering from all over the world and people expressed their concerns for
the increasing environmental problems.
June 8 World Oceans Day –Annual observation to honour the world's
oceans, celebrate the products the ocean provides such as seafood as well as
marine life itself for aquariums, pets, and also a time to appreciate its own
intrinsic value.
June 15 Global Wind Day - It is a day when wind energy is celebrated,
information is exchanged and adults and children find out about wind
energy, its power and the possibilities it holds to change the world.
