CA Prashant Jain

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What is Talent Management?

Rather than a one-time event, talent management is a continuous process that plans talent needs, builds an image to attract the very best, ensures that new hires are immediately productive, helps to retain the very best, and facilitates the continuous movement of talent to where it can have the most impact within the organization. The goal of the talent management process is to increase overall workforce productivity through the improved attraction, retention, and utilization of talent. The talent management strategy is superior not just because it focuses on productivity, but also because it is forward looking and proactive, which means that the organization is continuously seeking out talent and opportunities to better utilize that talent. It produces excellent results because it overcomes the major problem of traditional recruiting, which is isolation. It instead integrates the previously independent functions of recruiting, retention, workforce planning, employment branding, metrics, orientation and redeployment into a seamless process. Talent management involves individual and organizational development in response to a changing and complex operating environment. It includes the creation and maintenance of a supportive, people oriented organization culture Talent Management” has become one of the most important buzzwords in Corporate HR and Training today. So it is the duty of the HR department to nurture a brigade of talented workforce, which can win them the war in the business field. The talent has to be spotted, carefully nurtured and most importantly preserved. Right person for the right job - is the new mantra So it is the duty of the HR department to nurture a brigade of talented workforce, which can win them the war in the business field. The talent has to be spotted, carefully nurtured and most importantly preserved. Right person for the right job - is the new mantra

Supply Chain Management: A Review

Supply chain management is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers. Supply chain management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption. Supply-chain management is the strategic, tactical, and operational decision making that optimizes supply-chain performance. The strategic level defines the supply chain network; that is, the selection of suppliers, transportation routes, manufacturing facilities, production levels, warehouses, and the like. The tactical level plans and schedules the supply chain to meet actual demand. The operational level executes plans. Tactical- and operational-level decision-making functions are distributed across the supply chain. The extent to which businesses engaged in global commerce adhere to labor and environmental standards is primarily an issue of national governance rather than supply chain management. In countries where laws governing anti-competitive business practices, environmental protection and labor standards are effectively enforced, companies can rely on government oversight to ensure that their suppliers are, at a minimum, in compliance with local law. However, in countries where such laws exist but are not effectively enforced the question of whether suppliers meet these legal requirements or not is much more difficult to determine. In the short term, business can help to address this situation through voluntary efforts and in partnership with governments and others.

Development of Logistic Management in Co-operative Sugar Industry of Maharashtra

The purpose of this Abstract is to examine the current status and development of the logistics management in co-operative sugar industries which in turn has enormous influence on other agricultural subsidiary industries. Based on the data obtained through in-depth interviews and secondary evidences, this paper will investigate logistic management of selected sugar industry located in Pune. The theme of the paper is empirically based. The rationale behind the selection of this research entity is that it is one that has undergone changes in the name of reforms but without much luck. The focus of this paper is on unveiling the logistic strategies that continue to plague the sugar logistic management followed by a list of suggestions and recommendations. The findings of the research paper are of importance and it is the hope of this paper to contribute positively in terms of suggestions which may be worth noting in development of sugar logistic management. To a certain extent, the results of this study may also have implications for similar sugar logistic management in other states of India.

Competition Issues in Electronic Goods Sector: Washing Machine Industry

The Indian Washing Machine industry is going through turbulent transformation. Companies are re-looking at their strategies and are desperate for growth. The entrenched position of the Indian market leaders in Washing Machines’ like Videocon, BPL and Onida has been challenged by the MNCs such as LG, Whirlpool, Samsung; some in a perceptible way and others threatening to do so. The changing environment demands fresh thinking to gain the cutting edge advantage. Exchange schemes, free gifts, price offs, prizes, deferred payment schemes and other incentives as promotional tools have been deployed by the players, which certainly have made the market, vibrant and pulsating. A major factor contributing to the growth has been availability of consumer financing schemes. Concomitantly, the industry has been witnessing a new scenario with a new market profile. The entry cost into this industry is substantially low. Thus, there is already a lot of competition in this sector and due to this, consumer is benefiting by not only getting the above benefits, but also world class products of high quality at reasonable prices. Due to this, washing machine is now a necessity of every house, whether in rural India or Urban India. This paper talks about the Washing Machine Industry in India, its market structure and challenges and opportunities it faces. The paper uses econometric techniques to deal with the issue of market concentration. Towards the end, a hypothetical situation is created where the major Korean MNCs, LG and Samsung get together and play in the market as a single entity. The paper analyses the reasons and results for this merger, and the economic theory and the competition issues emerging with this collaboration

The Risk Management Challenges Faced by Global Banks

The overwhelming top of mind –issue is regulatory uncertainty. The top risk management and control challenges faced today by the company leaders will be discussed elaborately later. The challenges which need to be discussed or which need a probe into are – • Dealing with regulatory uncertainty – Multiple regulatory proposals complicate planning as banks anticipate systemic reform • Anticipating new capital requirements – Stricter regulatory proposals are driving banks to reallocate capital , rebalance portfolios and rethink market strategies • Shifting the risk culture – Banks are strengthening their risk culture and governance processes with more senior management involvement and invigorated risk procedures • Navigating the Fluid economy – Uncertainty about the economy poses a challenge to long – term and short- term planning • Repairing the balance sheets – Many banks are still dealing with fallout from the economic crisis

Model Building Procedure for New Production System

Production system is very important aspect in industry and before making the investment to install the new system or modification in existing system, we can analyze the system performance only by simulation and modeling. This paper provides a method for development of mathematical model for new production system. A mathematical model uses symbolic notation and mathematical equation to present a system. The art of modeling is enhanced by an ability to Abstract the essential features of problem, to select and modify basic assumptions that characterize the system and then to enrich and elaborate the model until a useful approximation analysis

Impact of Global Recession on Readymade Garments (RMG) Sector of Bangladesh

The latest financial crisis has taken the whole world aback posing threat to the RMG producers and the overall industry prosperity. Bangladesh RMG industry is also placed in an extremely vulnerable position and has started to experience consequences of the financial turmoil. Though the extent of bearing seems to be minimal, it is assumed that if the recession continues, the RMG sector might be hit badly in the long run. For Bangladesh the central bank has strictly controlled the dollar exchange rate to facilitate the RMG sector’s operation. With the exporters’ profit margin1 declination, if the recession continues, it would be hard to sustain. To face the detrimental effect of the recession Bangladesh need to take innovative marketing strategies to attract more order, focus on exploring new markets to minimize the dependency on few buyers, try collectively to improve its bargaining skills, take step for infrastructure development to ensure adequate electricity, gas and port facility, emphasize on efficiency and productivity increase, develop more backward linkage2 facility and increase the level of value addition by better combining the players in the chain and establishing industry hubs where a whole production industry including small backward linkage units will carry on the process in harmonized succession.

A Study on Risk Perception and Management for Generation Y

In this paper we investigate the participation of dynamic generation Y, in the financial market and their preferences for investment in the available financial instruments. Generation Y describes the demographic cohort of young adults who have grown up with personal computers, cell phones and the Internet and are now taking their place in a world where the only constant is rapid change. The age distribution of Indian population shows a distinct bulge in the age group of 15-35 years. This is propelling India in to a newer orbit and is driving radical changes in lifestyle, economy, culture, values etc. The study is an expansion on previous work and includes perceptions of risk and strategy to manage the risk using available investment options. The third generation technology empowered them to explore the risk taking market and fluctuating market in the current scenario, but the preliminary findings shows that they are less participative in investment and risk taking financial activities.

Ethical Issues on Mergers & Acquisitions

In countries all around the globe, mergers and acquisitions play a key role in increasing corporate value while corporate restructuring serves to reallocate assets to their highest valued uses. This paper reviews the ethical issues on hostile takeovers and applies ethical theory to some of the defensive tactics that have been used to explore unwanted takeovers. The merger mania put top corporate management on the defensive as predators sought takeover targets. Hostile takeover activity has grown up in recent years, for a variety of reasons, but the ethical issues surrounding acquisitions and mergers and the ethically questionable conduct that is often involved remain as relevant as ever.

Looking Ahead for Evidence based Management

Evidence-based management (EBM) is an emerging movement to explicitly find and use the current, best evidence in management decision-making. EBM encompasses managerial decisions and organizational practices backed up by by the best available scientific evidence. An important part of EBM is educating current and future managers in evidence-based practices A college degree may be required for an MBA – but not to be a manager. The adoption of evidence-based practices, therefore is likely to be organization-specific, where leaders take the initiative to build an evidence based culture. Organizations successfully pursuing evidence-based management typically go through cycles of experimentation and redesign their practices consistent with their values and mission. EBM enhances the overall quality of organizational decisions by combining conscientious, judicious use of best evidence with individual expertise; ethics; reliable business and organizational facts; and consideration of impact on stakeholders. This paper attempts to carve out the fundamental FIVE principles of EBM • Benchmarking of what winners do • Commitment to Fact based Decision Making • Encouragement to Experimentation and ‘learning by doing’ • Finding out Hard Facts and building a Culture • Looking for Risk and drawbacks in recommendations of people

Fuzzy Logic & Managerial Decision Making Process

Fuzzy sets and fuzzy logic are powerful mathematical tools for modeling and controlling uncertain systems in industry, humanity, and nature; they are facilitators for approximate reasoning in decision making in the absence of complete and precise information. Their role is significant when applied to complex phenomena not easily described by traditional mathematics. Companies deal with many decision-making processes whose impact on the global performance can be very strong. Considering the imprecise or fuzzy nature of the data in real-world problems, it becomes obvious that the ability of managing uncertainty turns to be a crucial issue. The present study is a short introduction in the theory of the fuzzy sets. In this paper I will also try to presents some aspects of the application of the fuzzy logics in finding the decision-making process related to the management.

Total Quality Management (TQM) in Higher Education System

“Quality is the totality of features and characteristics of a product or service that bear on its ability to satisfy given needs. “ This paper focuses on the Principle of Total Quality Management as quality has become the defining element of education in 21st century. It will also take into account the Quality of existing higher education system and introducing strategies to improve that system for future. There are various parameters of TQM which affect the quality of any higher educational institute; hence an attempt has been made to theoretically conceptualize TQM in Higher Education.

Study of the Growth of Small Scale Industries: with Special Reference to Indore

Small Scale industries have an important role to play given their greater resource- use efficiency capacity for employment generation, technological innovation, promoting inter sectorial linkages ,raising exports and developing entrepreneurial skills. Their locational Flexibility is an important advantage in reducing regional imbalance. The future of Small Scale Industries is of major policy concern given their strategic importance in any discussion of reshaping the industrial sector. Promotion of the small scale sector in India has been an important issue of Industrial Policy since independence although the focus of concern changed with the priorities of each five year plans. As Indore is known as the Industrial Capital of M.P and it provides home to over a hundred large and medium scale industries and almost fifteen hundred small scale enterprises, an attempt has been made in this paper to study the growth and development trends of the small Scale Industries in Indore.

Institute – Industry Gap

Knowing is not enough, we must apply Willing is not enough, we must do With the Industry and Academia often expressing divergent views, the article provides both with a platform for expression with the aim to help bring about a meeting of minds. Institute – Industry partnership forms an important activity for any academic institutions as its stakeholders interact with the real world. To work out this employability gap, it is essential for the institutes must realize that their ultimate goal is to deliver quality students to the industry. Covering up this employability gap won’t just benefit the student or the institute or the industry, but would overall benefit our nation as well. We have the fire in us; we just need to feel it and prove ourselves. Together we can and we will, make a difference!

Higher Education in the Twenty- First Century

The education sector in general and higher education in particular are undergoing profound changes in India. Enrolment in higher education has been growing to meet the needs of a larger and globalizing labor market. The rapid expansion of the Indian higher education system is due to opening up of the higher education sector for private participation during the 1980s and the economic liberalization that started in the early 1990s. This research paper is an informative type of paper which will present information regarding the governance and management, some of the recent reforms in the higher education in 21st century done by the government of India and what are the tasks ahead for improvement of the education system in India.

A Highlight on E-SCM & A Plan for Successful Implementation of E-SCM in Indian Business Scenario especially in FMCG Industries

Traditionally, the phrase Supply Chain Management meant assembly lines, warehouses, truckers and time sheets. Earlier, manufacturers had the luxury of taking years to develop market and sell their products. Back then, there were few variations in packaging and in the products themselves. In only a few years, the very fundamental of manufacturing in virtually every industry has changed. Changes have taken place in the relationships between producers of primary products, manufacturers and retailers. Companies are looking at how to provide greater flexibility in moving parts globally. In a quest for greater efficiency and lower costs, there's been growing importance given to managing the supply chain effectively for the benefit of all parties. So, in this paper our concern is to highlight: 1. The impact of Internet and technology, i.e. with the emergence of the Internet, customers seek out specific products they want at the prices they're willing to pay. 2. Target of industries i.e. to give one’s supply chain a thorough tune-up by strengthening some basic elements of supply chain management. 3. Some current state of affairs regarding E-SCM, i.e. Organizations known for pioneering best practices recognize that continuous improvement goes beyond reaching quarterly and yearly targets. 4. Indian scenarios and competitiveness with an Exhibit, i.e. over the past three decades, customer expectations have raised by leaps and bounds, at the same time, they continue to expect and demand more ‘value’ from brands. 5. SCM Practices in Indian FMCG Industry, i.e. In a low margin and high volume business like FMCG (Fast Moving Consumer Goods), it requires a very close attention on the planning and operational part of the entire value chain activities because these minuets details can change the fortune of any organization. 6. Factors required for the Indian FMCG Industry for converting to an e-centric one, i.e. factor analysis with aforesaid condition is considered to determine item representation to a single factor. 7. Conclusion and findings to say, “this proposal intends to presents an approach suitable for Indian conditions to resolve issues in customer service, demand flow, distribution and supply”.

Professional /Technical Education in India by Private Institutions: Issues & Challenges

India's higher education system is the third largest in the world, after China and the United States. The main governing body at the tertiary level is the University Grants Commission (India), which enforces its standards, advises the government, and helps coordinate between the centre and the state. Accreditation for higher learning is overseen by 12 autonomous institutions established by the University Grants Commission. More than 10 million students in India are getting higher education from private institutions or universities. Private institutions compensate for the failure of the education system. It is high time that it is given the status of an industry. In this paper an attempt has made to highlight Issues & challenges faced by Private institutions to survive in a competitive education market of India.

New Paradigms in Supply Chain Management

Although the importance of supply chain management is broadly acknowledged, few senior executives are sure about how and where to direct their supply chain investments to maximize business results. This is a critical disconnect. Opportunities for supply chain enhancement are everywhere, but specific information about strategic value often is absent. In other words, executives want-and need-to know what supply chain programs will affect their companies' performance in the most substantive way, and what paths they should take to manage the complexity and challenges that accompany supply chain initiatives. They also need more and better information about what it means to be a supply chain leader, what advantages are associated with supply chain leadership, and what supply chain leaders actually do to ensure or extend their competitive advantage.

Supply Chain Relationships among Strategy, Flexibility and Performance - A Theoretical Framework

In today’s global business environment, concepts are moving towards competing a the international level. This has made companies to explore the new ways to leverage their supply chain and to develop a strategic approach. A strategic approach with flexibility is helpful to increase the overall performance of the organization and to respond customer requirements. Consequently, in order to maintain cut-throat competition in the market and to be able to satisfy end customers, supply chain strategy (SCS) must be aligned with the supply chain flexibility (SCF). With a large number of SCS dimensions and SCF dimensions, it isn’t a feasible to practice each dimensions. The study aims to classify them in a suitable manner, which is helpful to the organizations to select a correct mix of SCS and SCF dimensions to increase supply chain performance (SCP). The purpose of this study is to identify all the dimensions of SCS and SCF. In addition, different mix affects different dimensions of SCP. Hence this study also aims to identify SCP dimensions. Later on, the relationships among SCS, SCF and SCP are identified through a theoretical model. The findings from various literatures are compared and analyzed. Thus guidelines are developed.

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CA Prashant Jain
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