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  1. 1. MET ASCENT12 Pages 30th July, 2011 – 15th August, 2011 What to watch out for …………. EXCHANGE TODAY Business News Sensex 17162.78 ↑ Nifty 5169.70 ↑ Rs/$ 44.57 Rs/Euro 64.50 Page 2 10 gm gold Rs26155 1 Kg silver Rs67615 (as on 10th August, 2011) HR News Job Market Page 4 Page 8 Book Review MET TIMES Page 9 Page 10 .…An initiative of HR” INSIGHT” Group Human Mind is our only fundamental resource… 1
  2. 2. MET ASCENTBusiness NewsWhich way is the global economy headed?Indian Market Is Feeling The Heat Of US & Eurozone CrisisSebi Says There’s Nothing To Worry06th Aug 2011, Times of IndiaThere is a growing consensus that the chances of a recession haveincreased in recent months. The main reason for this pessimistic outlookis the state of the US economy and the debt crisis in Europe, which isnot just continuing but threatening to engulf countries that have escapedit so far like Italy and Spain. The term recession it is understood as asituation in which there are two successive quarters of decline in economic activity. Somerecessions would be characterized by such a decline followed by a sustained period ofrecovery. However, sometimes, there can be a brief phase of growth followed by anotherrecession. This situation is what is described by the term “double-dip recession”. The impact of this on the Indian economy is on the negative side, if consumption indeveloped countries declines, India’s exports could be hit. Off-shoring jobs may be affected,though outsourcing could increase as Western firms try to save costs. On the positive side, aglobal recession would typically mean a decline in commodity prices and hence an easing ofinflationary pressures. This would be particularly true of crude oil prices.Indian economy strong enough to withstand crisis: Pranab Mukherjee9th Aug 2011, Economic TimesWith all eyes on the global situation, Finance Minister Pranab Mukherjee onTuesday said Indias macro-economy was moving in a positive direction andhoped international commodity prices would decline, helping the governmenttame inflation and cut subsidies. Mukherjee maintained that Indias economicfundamentals were strong and capable of meeting any challenge posed by thedowngrade of the US economy and the crisis in some Euro zone nations. The minister said the US downgrade has created some problems for India, "Thechallenge is there, but we have the capabilities of facing these challenges. Collectively, with Human Mind is our only fundamental resource… 2
  3. 3. MET ASCENTthe efforts of all concerned, particularly with the cooperation of the RBI, we will be able toface the challenges," he added. The downgrade of the US economy by Standard and Poorslast week has created havoc in stock markets worldwide, but led to a decline in commodityprices, including crude oil. Mukherjee hoped that prices of oil and other commodities willcome down further, "which will help us to manage inflation and also help in reducingsubsidy on oil".„Everything is right & perfect‟6th Aug, 2011, Times of IndiaHyderabad: Everything is “perfect and right” with the Indian stock markets, says Securitiesand Exchange Board of India (Sebi) chairman U K Sinha, allaying fears of any crisis. “Thereis nothing for people to worry about.” Attributing the over 600 points intra-day fall in sensexon Friday to below 17,000 level to global cues, Sinha said: “We are watching the situationclosely. Our analysis at this stage is that the global markets have gotaffected and India as part of the globalised economy has also gotaffected.” Reiterating that the market infrastructure in India was intact,Sinha said: “Our market and regulatory system is perfectly in place. Ourrisk management system is working perfectly. All the settlements aretaking place. There is nothing for anybody to worry on that account.” “Buying and selling is anormalactivity. On Saturday’s meeting with Sebi and the stock exchanges called by the financeministry, Sinha said it was part of the normal consultation process that the finance ministryand all intermediaries have over a regular period of time to understand the latestdevelopments in the market and draw a long-term plan.Cognizant replaces Wipro as No. 3 IT coCloses In On Infy As Revenue Rises 34% In June Quarter03rd Aug 2011, Times of India Cognizant said on Tuesday that its revenue rose 34.4% to $1.49 billion in the quarterended June, and in the process displaced Wipro Technologies as India’s No. 3 IT firm in Human Mind is our only fundamental resource… 3
  4. 4. MET ASCENTterms of revenue. Wipro reported a revenue of $1.41 billion in the quarter.Cognizant said it is expecting a revenue of $1.57 billion in the September quarter. Wipro’sguidance for the quarter lies in the range of $1.39-1.42 billion. Cognizant has also narrowedthe revenue gap with Infosys to less than $200 million. Infosys earned $1.671 billion in Junequarter, and its guidance is $1.73 billion for September quarter. Cognizant’s net profitjumped 20.83% to $208.04 million in the April-June 2011 quarter, up from $172.17 millionin the year-ago period. Cognizant ended the quarter with over 1,18,300 employees globally.The company added 76 new clients and closed the quarter with 721 active clients. HR NewsIndia Inc. Then and nowTimes AscentAmongst many new announcements and policy initiatives, 2011 startedwith news about expected increments this year surpassing last years andsalary hikes of almost 12.9% for 2011. With recession far behind them,companies have adequately prepared themselves for an upturn. The human Human Mind is our only fundamental resource… 4
  5. 5. MET ASCENTresources fraternity has been one that is most affected. Since the markets started lookingupward, people started to get new job offers therefore employers have to offer goodsalaryhikes to retain their existing talent force. The other big change that India Inc isexpecting to see in 2011 is hiring of working mothers provided that she has the requiredskills. Overall, staff strengthening was expected to happen across verticals in 2011. Themanufacturing industry is buoyant and the challenge of recruiting and retaining talent holds greater importance in todays competitive environment. The second half of the year is expected to see a quantum increase in recruitment too. The key challenge will lie in recruiting and retaining key talent. With the industry becoming more competitive, employeesconstantly benchmark their work environments with their peers and it therefore becomes veryessential that companies focus on key basics such as employee engagement, effectiverecruitment especially using employee referral, creating a congenial work environment andan overall focus on training and development of employees. So while much has happenedalready, there is even more to look forward to.Taking Work OutsideTimes Ascent If the pace of work & usual rigour is being lost in the company in spite of providing the best office facilities then to ensure employees are creative, innovative & have a stronger drive to perform you need to boost energy levels at work by giving them time to unwind by taking them outdoors. Outdoor activities like sports, picnics, cultural events etc significantlyimprove employee morale & work culture & break the monotony ofeveryday office routine & also creates a sense of healthycompetition, makes one dependent on ones skills & abilities &appreciate those of the other team members. It leads to lot of inter& intra team bonding & reduces distance between employee &manager. Also task & team work seem more important thanindividual achievements alone. Time, budget, destination & an activity that interestsmaximum number of participants has to be thoroughly planned to avoid logistic &operational problems. Clearly, while outdoor activities come with a lot of plusses, care must Human Mind is our only fundamental resource… 5
  6. 6. MET ASCENTbe exercised at all points of planning and executing them, so as to not lose sight and theultimate purpose of it all!2011, the year of HRTimes AscentSignificant people management trends of the first half of 2011 will pave the way forward forthe rest of the year & a productive 2012. The onset of 2011 saw HR managers pledging toimbibe tactful people management practices that would induceadeptness in the organisational structure since top HR managershave realised the importance of effective people managementpractices to enable efficiency in the organisation.Some companies have opted for selection interviews where employees are cross examined atthe time of appraisals while other companies have opted for exit interviews. HR managers have tried to tap into every aspect of People Management by infusing novel practices in firms to fuel employee performances for the best. Having an official social networking site encourages employees and clients to bond and garners feedback, enhances interpersonal relationships and also gives the employees a sense of fulfilment astheir work is displayed for everyone in the virtual world to regard. Balanced workforcestrategy was implemented to create a proper representation of minorities and womenemployees. The provision of employee self portals in the first half of 2011 proved to be asuccessful measure. The introduction of which, gave employees the authority to view andupdate data on the web without having to go through the HR personnel. The past six monthshave been those of trial and error; some corporations stimulated people managementtechniques that brought about a positive transformation while other HR managers hoped thenext six months would churn out improved practices. Human Mind is our only fundamental resource… 6
  7. 7. MET ASCENTWanted: Efficiency CoachesTimes AscentIndia Inc has a new breed of coach – the efficiency coach. Oftencompanies focus on the huge gap between the present condition andimmediate results & somewhere in between they lose sight of theirfinal goal. To help avoid this over achiever’s disaster, companies are taking on efficiencycoaches to help improve efficiency. Their job is to help identify problematic areas in theworkplace & implement solutions with a goal to increase productivity, profitability & value& strive to change the behaviour of the people they are coaching. A management departmentthat is running subpar along with weak managers who are afraid to confront problems headon keep a company locked in a circle of inefficiency while bleeding precious resources. Thissituation can be avoided with the help of an efficiency coach. They also help developindividuals & teams equipped with positive energy & psychological well – being. Theconcept of an efficiency coach will be successful only when the executive is ready for achange, open to feedback & has attained a certain a level of maturity in their career. Business owners implement cost cutting when income declines. Although this may increase profits temporarily, value inevitably declines due to lowered employee morale, customer care & product quality. Efficiency coaching increases value of business while raising profitability & creates a streamlined, organised workplace that contributes to higher employee morale & the increased productivity is usually accompanied by financial bonuses. Efficiency isabout regular improvement, not perfection. Perfection within a company can neither beattained nor sustained. Regular improvement, however, is attainable. While there are manydifferent aspects of a corporation that a coach can focus on, the ultimate goal is always apositive final result. And that is exactly what an efficiency coach helps towards achieving. Human Mind is our only fundamental resource… 7
  8. 8. MET ASCENT Job Market  Enercon (I) Ltd - MBA Finance Jobs for FreshersExperience: 0 - 2 Years Functional Area: Accounts, Finance, Tax, CS, Audit Education: AnyGraduate, MBA/PGDM - (Finance)Location.  WNS Hiring MBA Finance GraduatesExperience: 0 - 1 Years Location: Delhi/NCRE education: B.Com , MBA - (Finance)IndustryType: KPO / Research /Analytics Functional Area: ITES/ BPO/ KPO, Customer Service.  EClerx Services Ltd - Walk-in - Fresher Mumbai Jobs - Finance AnalystsExperience: 0 - 2 Years Location: Mumbai Compensation: Rupees 1,00,000 - 2,25,000Education: B.B.A ,B.Com, MBA/PGDM Functional Area: Accounts, Finance, Tax, CS, Audit.  SAIL - 20 JulAnywhere in India - MT (Technical/ Administration) - BE/B.Tech (Ceramic, Chem, Civil, CSE,EEE, ECE, IT, Mech, Metallurgical, Electrical, Instrumentation & EIectronics), CA, ICWA,MBA/PGDM, MCA. End Date : 17 Aug  Bharatiya Nabhikiya Vidyut Nigam Ltd - 03 AugTamil Nadu-other - Dy. Manager - CA, ICWA, MA, MBA/PGDM, PG Diploma –End Date : 22 Aug  SAIL - 20 JulAnywhere in India - MT (Technical/ Administration) - BE/B.Tech(Ceramic, Chem, Civil, CSE,EEE, ECE, IT, Mech, Metallurgical, Electrical, Instrumentation & EIectronics), CA, ICWA,MBA/PGDM, MCA – End Date : 17 Aug  Eureka Forbes - 08 AugDelhi - Management Trainee – HR - MBA/PGDM(HR) – End Date :09 Aug  Bharatiya Nabhikiya Vidyut Nigam Review Book Ltd - 03 AugTamil Nadu-other - Dy. Manager - CA, ICWA, MA, MBA/PGDM, PG Diploma –End Date :22 Aug  Bank of India - 03 AugAnywhere in India - Specialist Officers in Scale I & II- LLB, MBA/PGDM –End Date: 16 Aug.  Human Mind is our only fundamental resource… 8
  9. 9. MET ASCENT BOOK REVIEW “DRIVE YOUR PEOPLE WILD WITHOUT DRIVING THEM CRAZY” Leadership Lessons for a Chaotic World -Book Review by Snehal MankarUnder pressure, some leaders become dictators believing that they haveto drive performance from their people. What do they get? Long hours,stress, more chaos & mediocre performance from their people. In thisrevolutionary book, Jennifer White helps leaders marry two apparentlyconflicting ideas, success at work and success at home, with the aim ofcreating profitable companies that retain top-producing employees. Jennifer White has created a unique seven-part process that willhelp business leaders produce the right results when it matters the most,show them how to inspire their employees to be high performers even if economy is slowing& convince them that it is possible for everyone to make it home in time for dinner withoutsacrificing company results. Go ahead, maximize your productivity, transform chaos into sanity, communicate withpower, honor your people, use speed to your advantage, and leverage their strengths andabove all GET YOUR LIFE.Corruption is a CANCER affecting the nation’s political,economic, cultural and social life. It is necessary toeliminate it. …Precident : Pratibha Patil. (15th Aug, 2011) Human Mind is our only fundamental resource… 9
  10. 10. MET ASCENT Happenings at BKC, METBHUJBAL KNOWLEDGE CITY TIES UP WITH BOMBAYMANAGEMENT ASSOCIATION (BMA)25th July 2011BMA is a no profit no loss organization that provides training programs & research projectsfor industries. They contribute in the Financial, IT & Personnel sector. BMA will conduct programs throughout the year for both students & staff of METwhich will be beneficial in the long run.Seminar on “AUTOMATION IN INDUSTRY”4th August, Department of EngineeringDelivered by Industry expertsMr. Arun Ogale (former GM of Siemens, Nashik)Mr. R.R. Deshpande (Director of A. R. Technologies)Seminar on “VISIT TO NASA”5th August 2011, Department of PolytechnicDelivered by Mrs. Apoorva JakhadeGD Session for MBA students6th Aug, 2011, Institute of ManagementConducted by JESCL group. Human Mind is our only fundamental resource… 10
  11. 11. MET ASCENTInduction program for FE students8th Aug, 2011Briefing done by FE co-ordinator Mr. Gite followed by felicitation of Engg college toppers.Events to Come….Poster Presentation15th Aug, 2011Themes - Independence DayInduction Program for First year MBA16th Aug, 2011Review of Last Year ActivitiesInauguration of MET ASCENTAndroid Workshop27th Aug, 2011Workshop on phone & PC software12th – 17th September, 2011Paintball, quiz, C coding, Java coding.Meteorite Workshop15th – 17th September, 2011Technical workshop for ENTC students on robotics software. Human Mind is our only fundamental resource… 11
  12. 12. MET ASCENTHappy Birth-Days!Birth Days in coming 15 days… 1. Abhinav Singh – 21st August 2. Sameedha Bhadange – 27th August 3. Pushpak Chumble – 30th August 4. Sweety Punjabi – 31st August The devil has put a penalty on all things we enjoy in life. Either we suffer in health or we suffer in soul or we get fat. -Albert Einstein Coming together is beginning. Keeping together is progress. Working together is success. -Henry Ford. …. Compiled by HR “INSIGHT” group 2010-2012 Human Mind is our only fundamental resource… 12