Stratelogue September 2016

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It gives us immense pleasure to present to you the third edition of “Stratelogue”, the monthly magazine.
Our aim with this magazine is to cover the various dimensions of strategy and bridge the gap that exists
between theory and practice. In this edition we have covered various strategy topics including
comparisons between war and business strategies, international business and associated risks, CSR as
well as various strategic issues in business and politics.
In our endeavor, the Industry view of strategy in this edition has been brought forward through articles
by Commander Arun Jyoti (Retd.), COO, Shyam Indus Power Solutions Pvt. Ltd. and Mr. Atul Batra,
Managing Director, DVB Group Ltd. We have also tried to incorporate the academia’s perspective
through an article from Dr. S.K. Tapasvi, Professor, Public Management and Policy Area, MDI Gurgaon.
Supriya Aiyer (PGP-HRM, MDI Gurgaon) has contributed a student article. Other articles have been
contributed by various members of Team Strategist. We have the ‘Did You Know?’ section through which
we bring across interesting facts and trivia to the readers.
We reserve a special mention for Utkarsh Choudhary, who helped out with the designs of the magazine.
The editing for the magazine has been done by Aarushi Chaturvedi and Supriya Aiyer with essential inputs
from Aiswarjya Mahapatra and Avishek Agarwal.
Let us know if you have any feedback for us at strategist@mdi.ac.in.
Team Strategist
MDI, Gurgaon
EDITORIAL
iEditorial
September, 2016

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Table of contents
iiTable of Contents
Editorial……………………….………... ……….……... i
Team Strategist
The General’s (CEO’s) Dilemma…………………........... 1
Commander Arun Jyoti (Guest Column)
Hong Kong – Business Opportunities & Risk Mitigation 4
Mr. Atul Batra (Guest Column)
Social Welfare and Corporate Responsibility................. . 5
Dr. S.K. Tapasvi
M & A’s: How Culture Can Eat Strategy For Breakfast… 8
Supriya Aiyer
The Art of War Business……………………………..... . 10
Siddharth Gupta
Auctions: A Critical Analysis……………………………...... 11
Rahul Kasera
Assumptions & Decisions………………………………...... 13
Aiswarjya Mahapatra
Did You Know? ……………………………………................ 14
Team Strategist………………………………………….. 15

The lonely General stood erect on his ground. His gaze went far as
his eyes could see the unfolding battle. He was not lonely because
he was left alone or deserted but he was lonely in his thoughts.
His grey cells were busy placing the options in the right corners of
his brain. Watching the dust rise on the battle field, he was
concentrating hard to bring forth his tactics. He was pushing
himself to generate the best attack philosophy and had an
onerous task of fighting against a mighty enemy. The advantage
was that the battle was being fought on his home ground and the
infiltrating Army had surrounded the General’s domain. The
General had established himself as a reputed warrior and a
philosopher. His reputation had started travelling to the nooks
and corners of the World as a grand strategist. He was a keen
student of SWOT Analysis and had developed a unique capability
to penetrate the enemy’s mind. He had developed the capability
to achieve loneliness, shut disturbances of the World and could
generate thoughts which would churn out the battle game. His
thoughts firmed up and he issued clear instructions and explicit
commands to his battle ground commanders. General Sun Tzu
then waited and watched as his Commanders decimated the
enemy’s Army which was 10 times larger than his own Force. The
victory established the General’s travelling credentials into a firm
belief.
Sun Tzu’s commanders fought fearlessly as they knew that there
was no turning back. The Kingdom had to be defended and the
costs had to be paid by the enemy and not their men. War, after
all, is a matter of life and death. Like the General in a War, the
CEO’s in today’s business world are always fighting an uncertain
future. The strength of adversaries today cannot be calculated
and the big data poses its myriad challenges to “not so lonely”
minds. The matter of death by the surrounding enemy motivated
Sun Tzu’s soldiers so that they could live to see another day.
Today, the CEO’s face the same General’s dilemma as they push
the employees to achieve higher ROIs to keep their brands afloat
in the churning oceans of global businesses.
General Sun Tzu had a considerate King as his ruler. The King
understood that his limitations would not let him survive the
onslaught of the marauding enemy. He subdued his own dilemma
by entrusting General Sun Tzu and then letting him achieve his
loneliness. General Sun Tzu was a keen practitioner of three
Golden Rules:-
• The key to success lies in intelligence.
• Outwitting the enemy was more important than winning the
battle on the first day.
• A limited Force should not go head to head in a battle unless
death is the only option.
With no external influence, all that Sun Tzu had to worry was for
his own actions. His crystal clear thoughts flowed out into a
guerilla strategy against a more heavy and slow enemy. Sun Tzu’s
warriors attacked the outposts of the enemy relentlessly and
destabilized the enemy forces. Today’s CEO’s could do much
better with constant and calculated maneuvers, deceptions and
surprises. Resources have to be well utilized and each resource is
to be accounted to capture more business. The elements of costs
have to be controlled at each step as each failure leads to higher
costs to the business. Controlled guerilla tactics and precise
calculations can avoid bigger losses due to hasty and mighty
expenditures to meet project timelines. What more- precise
calculations by most modern computers, best trained minds
bought at a price and new generation analytical techniques are
always available to the CEO’s of today. The resources have
immense flexibility in their operational modes and need the
correct tweak at the opportune time.
In War, sheer numbers does not accrue a tangible advantage.
Brute military power has seen many a debacles during the
conflict. Similarly, a CEO needs to understand that mere numbers
may not lead to more revenues. Limited numbers with precise
maneuvers and supporting environment can crunch the numbers
to the best advantage for a CEO. The in-depth knowledge about
the environment and the competition puts a CEO in a position of
advantage. The CEO must keep an eye on the horizon and the
signs of rising dust must be analyzed correctly. A joining force can
also support the enemy forces and fritter the advantage of the
1
Commander Arun Jyoti (Retd.)
COO, Shyam Indus Power Solutions
“It is essential for victory that
Generals are unconstrained by
their leaders.”
Sun Tzu
The General’p (CEO’p) Dilemma

The General’p (CEO’p) Dilemma
winning General. A wise General keeps his supporting forces at
standby and has a constant connect with the counterpart
General. Invoking support means loss of precious time to
mobilize the support mechanism. This time gap can decide the
fate of the battle. The CEO also has to keep his supporting
elements ready for any eventuality.
General Sun Tzu demonstrated a moral influence. He remained
unfazed as his smaller force kept the tirade against a larger
enemy. His explicit orders and clear commands aptly supported
his moral fiber element. He was willing to accept his failures
and celebrated his success as the success of raw courage of his
men. He dreamt and let his men achieve his dream. A CEO has
to equally demonstrate his moral thread to his team. He has to
take the final call when required and keep a sharp look out for
the failures in his team. The team has to be churned and goals
have to be portrayed clearly. The CEO’s actions cannot display
ambiguity. A lonely General is not disturbed by his King and
likewise a lonely CEO is under watch, and should not be
disturbed till a trend emerges. After all, there is one big
difference between a General and a CEO- the War may die any
day, but a competitive Company is always at War.
A General, who has to win the War, analyzes his battlefield first
and this analysis is absolutely thorough and meticulous. This
analysis can be impartial provided the General is lonely. His
thoughts should only be towards his strategy towards the War
and nothing else should disturb his peace and tranquility. After
all, the General is on the battle ground and not the King! Loose
inputs and doses of wishful thinking can derail the best of the
plans. Each order has to be weighed correctly and keeping all
the circumstances in the calculation matrix. The enemy behind
the closed door is not visible to the naked eye. A smoke screen
can hide the cannon and it can be moved to a position of great
advantage. A calm General keeps his gaze steady on the theatre
and his eyes pick each movement. He does not let the enemy
open the door and emerge with a cocked gun pointing at him.
A CEO also keeps analyzing the trends of market and his
reaction is well thought when the market opens. He listens
carefully, analyses thoroughly and acts quickly. The General and
the CEO both have to act at a quick pace to capture the open
ground.
The General does not let his commanders die in vain and
neither does he let them get routed in battle. A rout, if it is
happening, can be clearly seen. The battle worthy soldiers has
to be motivated to lead a final assault to derail the winning
enemy. This might spring a new surprise or even demoralize the
enemy. It is a fact truth that societies start growing again, even
after a rout, albeit in a different form. The General whether in
win or in defeat keeps the challenge alive for his enemy. The
enemy should weigh the challenge and decide future actions. A
CEO also faces the similar dilemma as the Company’s fortunes
start oscillating. He has to fight with his might and smell
opportunity even under tight circumstances. CEO’s decisions
can lead to twists in the corporate plans and he should be wise
and bold enough to make those changes.
The General and the CEO are two sides of the same coin. If the
General is the symbol of authority, then, the CEO is the symbol
of prosperity. Authority and prosperity are invariably and
inexplicably linked to each other. They are rather always
entwined in a close embrace. The dilemma is the beginning of a
grand strategy or a deep pitfall. Lonely General and lonely CEOs
look hard at the horizon to align their thoughts and keep
striving till they reach their desired end states. In every clash,
one side has to accept the defeat. Sometimes, it is best not to
fight at all and rehash the complete strategy paradigm.
The General and the CEO have to stay behind and oversee the
unfolding game. The Commanders would look back for the
correct advice. The high position gives ample opportunity to
decipher and generate the correct action. Ensure the action
and let the dilemma fade away into oblivion. Do not let the
enemy behind the closed door to come out all guns blazing. It is
better to blow the door away if it is amply clear that the enemy
is hiding within the premises. After all, the cost of replacement
of a door can never equalize the loss of a well-trained human.
Suppress the dilemma and ensure the action.
3
ABOUT THE AUTHOR
Commander Arun Jyoti (Retd) is an alumnus of
National Defence Academy, Naval College of
Engineering, IGNOU and Defence Services Staff
College. A die hard Submariner, he hung his Naval
Uniform after 22 years of Commissioned Service.
He is now based out of New Delhi and handles the
operations of Shyam Indus Power Solutions Pvt
Ltd, an EPC Company. He can be reached at
arunjyoti1971@gmail.com
2

is that a typical business can be ‘run’ successfully from a laptop
with an Internet connection. Since the players have multiplied
manifold and most of them have access to similar tools, the
competition has increased, directly impacting margins. In recent
years, burgeoning e-commerce options have obviated most
middlemen from the transactions. Thus, the efficiency of a
business plan is paramount with special emphasis on controllable
expenses.
An ideal location of a business would help to harness overheads,
minimize expenses and enjoy tax exemption while being based in
a respectable jurisdiction. Incorporating a limited liability
company (LLC) has never been easier but the choices are
narrowing after each of the infamous ‘leaks’ of database
belonging to the ‘tax havens’. These jurisdictions bestowing
privacy of ownership have been hit by scandals and the
immediate fallout is disfavor with the operatives. Hong Kong has
thus emerged as a popular and ideal location to base a business.
The Regulatory transparency gives it much needed respect and
acceptability amongst banks and foreign Regulators. In my
opinion, Singapore comes a close second.
One needs to follow simple steps in setting up an International
business starting with deciding on the location, structuring the
ownership pattern, incorporation process, obtaining regulatory
approvals (if required), opening bank account(s), setting up credit
facilities, tax registration and other statutory filings. The location
depends on proposed activity or purpose of the Company. Ship
ownership has preferred jurisdictions such as Panama and
Cayman Islands. Investments are better held under a British Virgin
Islands or Seychelles incorporation. Some businesses need to be
based out of Europe if they are focusing on e-commerce and have
to rely on online payment gateways. Hong Kong and Singapore
are better suited for trading outfits. Currently it is recommended
to keep the ownership pattern simple without intermediate layers
A BUSINESS, also known as an enterprise, company or a firm is an
organizational entity involved in the provision of goods and
services to consumers^. Arthur O’Sullivan has given this basic
description, which over the years has become quite expansive in
terms of its interpretation. The dynamics are controlled by three
operatives; the originator, the consumer and the market. While
the operatives have largely remained the same, the process has
evolved over time. We have been tweaking the business model
and fine-tuning it to meet contemporary requirements.
Academically, Business Studies as a subject is a great medium for
dissemination of knowledge and skills to achieve desired goals.
Thus every individual strives to formulate a business model in
tandem with market situation earning profits presently or in the
foreseeable future. However, it is now being realized that
efficient ‘structuring’ of the business model is the most important
aspect of creating a business plan.
Technology has defined not only ‘how’ a business is run, but also
‘where’ it can be based. Thanks to Tim Berners-Lee and his ‘www’
both the above aspects of a business plan are largely taken care
of. The computer and the Internet have together ensured that
location of the aforesaid operatives (originator, consumer and
market) is no longer an issue. Major points of concern while
setting up a business, such as language and distance, are no
longer points of concern. The web has also helped in shortening
the operating cycle, which is critical. With a given working capital,
the originator can now manage more cycles thereby generating a
higher surplus. This more than compensates for the shrinking
markets and declining margins.
Banking is the cornerstone of success in any business and an
efficient system can extend the reach and usefulness of the
capital employed by the operatives. The banks all over the world
have shown tremendous adaptability to advancement in
technology through upgrading their hardware, training internal
teams for software support and developing new banking products
to exploit availability of technological bandwidth. This has
translated directly into shortening of transaction timelines and
ultimately helping the operatives get faster rotation of their
working capital employed.
The marketplace has now become ‘global’ and available to the
common man. The most important aspect in present day scenario
3
Mr. Atul Batra
Managing Director, DVB Group Ltd.
Hong Kong – Business Opportunities &
Risk Mitigation
An ideal location of a business
would help to harness overheads,
minimize expenses and enjoy tax
exemption while being based in a
respectable jurisdiction.
O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action.
Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 29. ISBN 0-13-
063085-3.

ABOUT THE AUTHOR
Mr. Atul Batra is a Finance professional of 28
years’ vintage. He is currently based is Hong
Kong and takes pleasure in helping clients make
more money. He is passionate about golf and
anything showing on the TV. He is always game
for hosting and entertaining guests. He can be
reached at atul@dvbgroup.co.
of Trusts and Foundations. This was a common practice till about
five years ago. However, stricter Know Your Customer (KYC)
norms have forced the stakeholders to simplify upstream
ownership. Efficient banking channels are necessary to speed up
transactions. It helps to complete all necessary filings upfront and
to be fully compliant at all times. This follows the famous dictum
– well begun is half done! At the same time, a hurriedly framed
structure can prove to be unsuitable, costly to amend and even
disastrous at times. It is better to be prepared than to engage in
patchwork for ad hoc re-structuring.
Hong Kong (HK) has evolved over the past four decades from its
reputation as the epicenter for crime and drug trafficking to a
world-class metropolis vying for the top spot in most rankings. In
the World Bank’s rankings measuring business regulations, HK is
rated at #5 under ‘Ease of Doing Business’ (comparatively, India
ranks 130 out of 189). A correctly structured business in HK is easy
to run, economical in terms of maintenance expenses and can
provide a zero tax environment, all within a legal and legitimate
framework. This frees the entrepreneur from bottom line hassles
and the person can concentrate on expanding the top line.
Supportive Government policies and departments, no currency
exchange control and excellent banking support have provided
the much needed impetus for both startups and established
entrepreneurs. HK also has the geographical advantage of being
the ‘gateway to China’ that seems to manufacture almost
everything and is supplying to every country. The pressure on
space in HK has transformed the erstwhile small manufacturing
base to a pure economy supported by services alone. The
Government has managed to build an infrastructure to be proud
of and the people work tirelessly to maintain its efficacy.
34
Hong Kong – Business Opportunities &
Risk Mitigation
Hong Kong has evolved over the past
four decades from its reputation as
the epicenter for crime and drug
trafficking to a world-class
metropolis vying for the top spot in
most rankings.
A typical trading business being run from HK draws its strength
from a mechanism that provides complete isolation of the
supplier and the buyer. Transferable Letter of Credit is the single
most effective banking product employed in HK. The banks are
attuned to rendering expeditious turnaround and servicing
switched documents. Last but not the least, HK has so many
similarities with India stemming mostly from being subjected to
English domination. The added advantage of responsive
Government departments and supportive organizations such as
the Trade Councils and Chambers of Commerce helps in
comforting the entrepreneur. Also, English is the commonly
acceptable medium of business communication.
All businesses have inherent risks and entrepreneurial prudence
lies in mitigating the various risks. Modern communication
systems have reduced product risks and pre-shipment inspections
can be conducted and reported instantaneously. Cargo and
Marine Insurances take care of the logistics. The transactional
risks are met by means of Insurance products such as Credit
Insurance and Banking products such as Letters of Credit, Bank
Guarantees and hedging of Currency risks.
Herein lies the secret of most modern successful businesses:
cover all risks (even if at a cost) and shorten the transaction
period to get faster rotation of working capital. A seasoned
professional can provide the best-suited business model with fail
proof mitigation and an empowered support system to plug
knowledge gaps, enhance dividends and always be prepared for
crisis management. As it seems, Murphy’s Law has stood the test
of time especially when related to business circles!

In fact, there is a great amount of intertwining in the working
of governments, businesses and societies. This needs to be
tapped for welfare maximization by identifying collaborative
models of delivery. Companies which would miss such
opportunities and would not like to supplement welfare
creating functions of the state and its agencies, may not remain
part of the business ecosystem which is rapidly changing its
focus and priorities in most advanced countries of the world.
In this paper, we have shown that CSR initiatives as approved
by Board of Directors of companies in compliance to the
Companies Act, 2013 open up opportunities for them to create
social welfare outcomes which would transform them into
organizations contributing to sustainable development. As the
idea of sustainable development is central to the emerging
global paradigm of human progress, companies have no choice
but to incorporate it in their value chain activities. The agencies
of the state, on the other hand, would find corporate partners
who are willing to work in a collaborative fashion on schemes
which are designed on the basis of convergence of short-term
and long-term objectives of all the partners involved in such
collaborative endeavors. The paper has been organized into
four sections. Section I has introduced the central theme of this
paper. Section II discusses the significance of CSR related
clause in the Companies Act, 2013. The agenda for collaboration
and convergence is elaborated in Section III. Last but not the
least, directions for future research and concluding remarks are
elucidated in Section IV.
II. CSR and Companies Act, 2013
Companies Act, 2013 is the beginning of a new era of
relationship between state and corporations. The Act has many
novel provisions like, auditor’s liability, one person company,
need for one-third independent directors etc. However, the
section related to CSR (Chapter IX, Section 135) has drawn
maximum media attention and anxiety among corporate
managers. The most contentious issue that Section135
addresses is regarding the financial resources to be spent on
CSR initiatives. This is a landmark provision ‘…as it makes India
first among the nations to have social welfare spending as part
of company statute by law’ (Dawan, 2013). The estimates vary
regarding the annual spending on CSR initiatives by companies
I. Introduction
‘Why corporate social responsibility (CSR) is relevant to welfare
policies of the state’ is a question that has not been answered
adequately in contemporary discourse on the subject. Even the
design of social and environmental initiatives by companies and
their implementation do not address this dimension of
government-business-society relationship. At best, companies
which are investing part of their profits for social and
environmental causes use the welfare outcomes of their
initiatives as a brand-building option. The PR and HR
departments and the managerial workforce therein use
companies’ social initiatives for employee engagement and/or
community welfare around areas where their plants/facilities
are located. Some big companies use CSR budget for
philanthropic donations with no clear-cut short-term or long-
term objectives to supplement the efforts that governments
are making in the form of social/environmental sector schemes.
Philanthropic contributions are largely discretionary and are
used as per the desires of owners/promoters of companies.
There seems to be a clear disconnect between welfare creation
function of the State and CSR choices/options of corporate
entities.
The amount of public expenditure incurred on social welfare
schemes has grown exponentially during last one decade.
Similarly, there are dedicated budgets for social initiatives in
many corporations. While public schemes may be criticized as
tools for political legitimacy and popularity among electorates,
it cannot be denied that there exist vast unmet needs of
deprived sections of the population which if not addressed by
public agencies may lead to social unrest and anomie in the
society. There are many evidence to show that felt needs of
deprived sections of the population have not been met despite
huge public/private funds allocated for targeted social welfare
programmes. Paradoxically, the role of various government
agencies/departments at all levels of governance viz., central,
state and local, is shrinking, both in size and significance, during
the post reforms period. Not only the government
bureaucracies are experiencing rapid changes in an age of
Right to Information, Performance Management, and
Governance Ratings, but there are also other actors, both
market-based and civil society groups, who are playing a
significant role in public affairs. The space for creation of
public/social good has evidently widened.
5
Dr. S.K. Tapasvi
Professor, MDI Gurgaon
Social Welfare and Corporate Responsibility: Can the
State and Corporations Work Together?

businesses in order to creating public/social good in a rapidly
changing Indian society. The desire to reach to a new radically
transformed social order as different from the current
iniquitous and conflict-ridden situation passes through a stage
that meets the challenges of transition which involve the
inculcation of a new mind-set of contribution and collaboration.
Governments across the world, particularly in modern
democracies, draw legitimacy from citizens and constituents by
creating social welfare outcomes. Companies, on the other
hand, are into the business of creating shareholders’ value for
investors and promoters. Ostensibly, the raisons d'être of
governments’ and companies’ role in a society are seen as
mutually exclusive. However, seen in terms of the principle of
synergy and collaboration, which entails a win-win situation for
mutually interacting partners, welfare and wealth creation are
both linked in a positive sum game. So, while companies are
anxious to frame their strategies in order to respond to CSR
provisions of the Companies Act, 2013, there is a need to see
these as source of opportunities for both government and
companies. In this way, CSR is strategic to both governments
and companies. The need is to give a coherent shape to this
strategy both for national competitiveness as well as for global
competitive advantage for companies.
III. Agenda for Collaboration and Convergence
The collaborative mind-set is required at all levels of activities
wherever network of organizations are engaged in seeking
convergence to their actions. In the case of CSR projects
undertaken by companies, there is a strong need for this
approach. The changed circumstances of managing public
affairs call for an agenda of collective action involving
organizations from all sectors including government, market,
civil society, media, and creative/entertainment industry.
The idea of welfare state is under criticism since the 1980s. The
main point of criticism is against the extensive public sector
which has failed to deliver welfare for citizens in a cost-effective
manner. The measurement of outcomes as against output of
development intervention has conclusively shown that actual
impacts are miniscule. A new approach “mixed economy of
welfare” has come in vogue as a result of these criticisms. It
gained ground during the 1990s as a result of growing
recognition to the fact that welfare provisioning is not the
responsibility of state alone. In fact, the existence of actors
other than the state is now taken for granted in welfare and
development sector. These actors include corporate
foundations, civil society organizations, trusts, charities, media
groups, community-based organizations, faith-based
organizations etc. The contemporary “mixed economy of
welfare” analysis categorizes these actors as: (i) the public
sector; (ii) the commercial sector; (iii) the non-profit sector; and
(iv) the informal sector. This clearly indicates the presence of
multiple spaces in which welfare is produced beyond the realm
of state. In fact, there are several instances of co-production
where state, market and voluntary sectors have come together
to create co-effective outcomes for those whose needs are not
met when anyone of the sectors is providing these services.
As an illustration, let us take the case of public health care
system in Indian context. As health care provisioning is in the
State List, the onus lies with different state governments to
which come under the ambit of this law. However, the more
important question to ask is as to how much social impact can
be created by companies in a society which is abound with
social inequalities despite state sponsored social welfare
programmes. Whereas governance deficit, implementation
inefficiencies, corruption, rent-seeking etc., are much talked
about problems in public action, there are very few attempts to
understand the synergies that exist between public and private
initiatives to create welfare outcomes.
A noteworthy feature of the social role of corporate
responsibility as envisaged in the Companies Act 2013 is its
voluntary nature. This indicates a persuasive rather than a
punitive approach to compliance with the law and has
significance with regard to diverse kinds of social needs that
companies can voluntarily address. Thus, while the CSR
spending has not been made compulsory, ‘every company
having net worth of rupees five hundred crore or more, or
turnover of rupees one thousand crore or more, or a net profit
of rupees five crore or more during any financial year shall
constitute a Corporate Social Responsibility Committee of the
Board consisting of three or more directors, out of which at
least one director shall be an independent director.’ The Board
of every such company has been entrusted to ‘…ensure that
the company spends, in every financial year, at least two per
cent of the average net profits of the company made during
the three immediately preceding financial years, in pursuance
of its Corporate Social Responsibility Policy. Keeping in view the
voluntary spirit of the CSR provisions in the Act, it has been
provided that ‘if the company fails to spend such amount, the
Board shall, in its report made under clause (o) of sub-section
(3) of section 134, specify the reasons for not spending the
amount.’ This is again a unique provision emphasizing an
approach peculiar to Indian socio-political and legal realities.
The uniqueness of this approach is indicative of state’s desire to
work with corporate sector for meeting welfare objectives of
the society rather than completely rolling back of its functions
and allowing the market forces to shape the future course of
our society. This is a call for all stakeholders to come together
and pursue common social goals while putting things in order
in their own domains.
The activities to be undertaken as part of CSR spending of the
companies are clearly mentioned in Schedule VII of the Act
which are: (i) eradicating extreme hunger and poverty; (ii)
promotion of education; (iii) promoting gender equality and
empowering women; (iv) reducing child mortality and
improving maternal health; (v) combating human
immunodeficiency virus, acquired immune deficiency
syndrome, malaria and other diseases; (vi) ensuring
environmental sustainability; (vii) employment enhancing
vocational skills; (viii) social business projects; (ix) contribution
to the Prime Minister’s National Relief Fund or any other fund
set up by the Central Government or the State Governments
for socio-economic development and relief, and funds for the
welfare of the Schedules Castes, the Scheduled Tribes, other
backward classes, minorities and women; and (x) such other
matter as may be prescribed. The inclusion of such areas and
concerns in the CSR Policies of the companies is an indication of
the collaborative relationship between governments and
36

ABOUT THE AUTHOR
Dr. S.K. Tapasvi is currently a Professor in Public
Management and Policy Area. He is currently
associated with the School of Public Policy &
Governance at MDI Gurgaon. He can be reached
at tapasvi@mdi.ac.in
This paper was presented at the Thinkers and
Writers Forum during 34th Skoch Summit on
Corporate Role in National Building, 12-13
November, 2013, New Delhi.
IV. Concluding Remarks
This paper has analyzed the problem of disconnect between
different welfare providing actors in the ‘mixed economy of
welfare’ that has gained ground after the public sector reforms
got initiated during the 1990s. In the backdrop of Companies
Act, 2013 and the clause related to CSR in India, we have shown
that companies can leverage this as new opportunity for growth
and corporate sustainability by working with state agencies and
civil society organizations. This agenda for working together
hinges on a 5-C model of a CSR strategy which needs to be
dynamically worked out just like other aspects of corporate
strategy. The mandatory constitution of CSR Committee at the
level of Board of Directors and formulation of CSR policy of the
company would greatly facilitate a strategic approach to CSR
and its implementation. The real issue however is of new set of
competencies that need to be mapped for all the organizational
actors which are involved in welfare provisioning.
_______________
References
Birla, Sidharth (2013), “Legislation which makes the Future a
Better Picture”, New Delhi: Economic Times, Saturday 31st
August, 2013
Brejning, Jeanette (2012), Corporate Social Responsibility and
the Welfare State: The Historical and Contemporary Role of CSR
in the Mixed Economy of Welfare, Surrey: Ashgate Publishing
Limited.
Dhawan, Ashish (2013), “How can India Inc. make CSR a Game-
Changer?” New Delhi: Economic Times, Thursday 5th September,
2013
Paper presented at the Thinkers and Writers Forum during 34th
Skoch Summit on Corporate Role in National Building, 12-13
November, 2013, New Delhi.i
invest in health care infrastructure, adequate number of
medical doctors, paramedical and auxiliary staff at district,
block and village levels. In reality, all four sectors viz. public,
private, non-profit, and informal constitute the organizational
landscape of health care provisioning. This is a clear evidence of
the existence of the ‘mixed welfare provisioning.’ The problem
occurs when there are competing interests that create issues
of poor access due to cost of private health care provisioning,
inefficiency causing delays and poor quality in public health
provisioning, and the small scale of voluntary health-care
services leading to poor output due to dependence on
donations from philanthropic and development organizations.
The role of informal sector in health care sector is full of risks to
patients with serious as well as not so serious ailments.
Nevertheless, all these sectors continue to exist in the health
care provisioning space, indicating a re-look, both at the level of
policy formulation and its implementation. The big national
level programmes like, National Rural Health Mission (NRHM)
and National Urban Health Mission (NUHM) are created as
centrally sponsored programmes. At the implementation stage,
however, there are rampant cases of inefficiency and
corruption leading to poor outcomes.
Where can we find the solutions to such messy problems? One
of the ways to decipher a solution to such problems is to evolve
a new functional division of welfare operations into regulating,
funding and provisioning. Alternatively, the intended form of
welfare outcome can be produced by different sectors in
combinations.
We are proposing an agenda for effective co-production of
welfare in different walk of life and to those who really need
these outcomes. The basic contours of this agenda are work in
progress. However, at a very elementary level of analysis the
following points are suggested for discussion among
stakeholders:
• How to create convergence of objectives among service
providers?
• What competencies are needed for co-productions of these
services?
• What are possible models of collaboration at inter-
organizational levels?
• What is going to be the commercial aspects of relationships
between partners?
• What are going to be the rules/institutions for collective
action?
Each of these 5-Cs are linked to a particular aspect of the
agenda proposed here. For instance, convergence is related
with planning, strategy and programme design. The
competencies need to be mapped at the level of knowledge,
attitude and skills. Collaborative models of service delivery are
the subject of organization design, change and development.
Commercial aspects of co-production of welfare are directly
linked with financial allocations for welfare programmes. The
institutionalization of collective action is again a subject of
legislative oversight of subordinate rules that implementation
agencies formulate for executing an act or policy.
37

• Dealing with low morale: M&A’s can be very stressful for
employees. M&A’s can lead to lay-offs and employees are
cognizant of this fact. Managing their worries and
preventing resentment towards the new company can be a
major challenge. As a natural, unconscious reaction, people
are resistant to change. These feelings of mistrust can
ultimately spoil the efforts of trying to bring to companies
together. Creating an environment of trust and openness
becomes essential in tumultuous times.
• Solving employee benefits issues: There are also basic
functional HR issues that crop up. For example, companies
can have different pay structures and completely different
HRIS systems as well (think Oracle versus SAP). HR cannot
act as a strategic business partner when the administrative
issues are not resolved. In the case of M&A’s this can even
cause the entire strategy to fall apart: frustration needs to
be managed and smooth transitions of HR systems and
processes need to be ensured. The HR department of the
buyer company particularly evaluates the benefit structure
of the seller company to discover the likelihood of any
imminent problem such as inadequate funds for pension
plan or continuation of any medical insurance plan that may
cost an arm and a leg to the organization in the long run.
For example, with respect the imminent merger of State
Bank of India (SBI) with its associates, Managing Director
(National Banking Group), Rajnish Kumar, believes that
integrating the balance sheets will be an easier process as
they share the same IT platform. The more complicated part
will be the potential ‘HR issues’.
Towers Watson’s research on ‘M&A HR Readiness’ reconfirms
that “deals can be significantly more successful when
organizations address people and culture issues early,
strategically and with discipline.” This is something we can see
in Figure 1 as well. These companies stressed on cultures that
align with and support strategic goals.
A classic example of the failure of a merger is the Daimler-Benz
and Chrysler merger. The nine year merger of $36 billion was
dissolved for a mere $7.4 billion. People very close to the
company sighted significant cultural issues as one of the major
1
Mergers and acquisitions are an integral part of the strategy of
many companies to grow inorganically. The global scenario has
become so competitive that this presents an effective way for
big and small businesses to secure competitive advantages. It
not only helps in enhancing market share but also helps to
multiply organizational capabilities and helps to share
proficiencies.
When we think of mergers and acquisitions, the first thought
that comes to our mind is valuations. We think of talks with
investment banks, scintillating news and figures galore.
However, when we look at why M&A’s fail so often, the reasons
have nothing to do with these aspects. A messy and weak
understanding of HR issues can be a thorn in an absolutely rosy
scenario. The Human Resources department plays a vital and
pivotal role in M&A’s and a proactive HR department can help
demystify M&A issues.
There are various roles that HR plays in this context:
• Decoding the Organizational Cultures: Two organizations
could have evolved very differently and hence usually have
very different ways of working, thinking, behaving and
feeling. The job of HR is to figure out how different they
really are and whether they are compatible enough to
become one. It is then HR who spearheads the process of
ensuring a smooth transition. This is can be more
complicated than it seems. M&A’s can turn sour due to
cultural clashes, leadership issues, absence of common
objectives and weak change management. An example of
this would be AB InBev’s merger with SABmiller. While both
are companies producing the same product, they are based
out of different countries and have vastly different cultures.
AB InBev is known for its cost-cutting and centralized
control, which some analysts have said may be tough to
impose on all corners of SAB’s business, with its joint
ventures and equity stakes in markets such as Turkey and
Africa. These cultural differences need to be understood in
order to deal with potential issues that could crop up.
• Understanding the demographics: Two organizations could
have widely different generations of employees. For
example, for companies that want to acquire start-ups, it
becomes essential to understand that these organizations
comprise largely of Gen Y and a more traditional
organization will need to understand this in order to create
a collaborative environment.
8M & A’p: How Culqure Can Eaq Sqraqegy For Breakfapq
Supriya Aiyer
PGP-HRM 2016-18

9
reasons for the dissolution. Potential synergies were also over
estimated. “You had two companies from different countries
with different languages and different styles come together yet
there were no synergies” said Dave Healy, analyst with
Burnham Securities.
Thus while mergers and acquisitions present huge
opportunities to organizations; a clear understanding of the
factors beyond the financials becomes critical to ensuring the
success of a transaction. That is not to say that companies with
different cultures cannot merge. For example, Verizon believes
its strength is engineering while a company like AOL is based on
aggressive sales strategy. These two companies have
successfully aligned their cultures and have created a
successful working relationship. However ‘cultural due
diligence’ must also be kept at the forefront of the initial
proceedings. Additionally, as we have seen previously, HR plays
a huge role is ensuring the success of even the most
complicated of unions. Thus, companies just need to pay very
close heed to Peter Drucker’s advice - “Culture eats Strategy
for breakfast”.
(Source: Towers Watson report on M&A HR Readiness)
M & A’p: How Culqure Can Eaq Sqraqegy For Breakfapq

10
The Art of War Business
Siddharth Gupta
The Art of War Business
These were lines said by Kevin O’Leary, co-founder of Softkey
and O’Leary Funds. He described what business is today, in a
ruthless but accurate way. Over years, businesses and business
strategies have evolved and businesses across the world have
become increasingly competitive. If business is war, the
strategies couldn’t be very different from those of war. Hence,
it is no surprise that many modern business strategies are
inspired from war strategies.
Businesses learn a lot from military warfare. In World War II,
German forces used Blitzkrieg (or lightning war) to win Poland
in 1939 and then successfully invading the Netherlands, Belgium
and France in 1940. In 1940, The German army crushed the
combined forces of four nations in less than 6 weeks. In 1941, it
drove Soviet forces back by more than 600 miles to the gates
of Moscow. The strategy itself was very simple yet very
effective. Germans would concentrate the offensive weapons
(such as planes, tanks and artillery) together along a narrow
front. They would together breach the enemy defence lines,
permitting armoured tank divisions to penetrate and roam
freely behind the enemy lines causing shock and
disorganization among the enemy lines. By the time they
realise what is happening, it would be too late for them to
regroup and respond.
The war strategies are not always limited to war grounds.
Google followed a similar strategy to crush RIM and Nokia when
it launched its Android operating system. After launching its
first android handset in 2011, it tied up with HTC, Sony, T-Mobile,
Samsung, LG and a host of other mobile companies for
providing its operating system within 3 years of its launch1. An
open source software and wide spread acceptability led the
developers and users to flock to it. Just like the French and
polish forces in World War II, RIM and Nokia were unprepared
and clueless. RIM’s market share in North America declined
from 54% in 2009 Q1 to merely 13% in 2011 Q22. Nokia had a 38.6%
market share in 2009 but was reduced to 6.6% by the end of
second quarter of 20123. The company later had to sell its
smartphone business to Microsoft who eventually had to write-
off the entire investment. In less than half a decade, a company
which was once values at a staggering $245 billion was gone4.
“Business is war. I go out there; I want to kill the competitors. I want to make their lives
miserable. I want to steal their market share. I want them to fear me and I want
everyone on my team thinking we're going to win”
Another, very popular form of warfare is guerrilla warfare. With
all its military might, United States was still brought to its knees
by the North Vietnamese Army as they engaged in guerrilla
warfare. The Vietcong guerrilla fighters would sneak up to the
unaware U.S. troops, attack them and leave before risking
capture. More than 50,000 U.S. soldiers died eventually in this
war. Telekom Romania (erstwhile Cosmote România) followed a
similar strategy in 2005 as they rebranded and launched
themselves in the Romanian telecom market. They invested
over €500 million5 over three years to improve the coverage to
95% of the residents flanked the post-pay service segment which
was strongly dominated by two incumbents and instead
focused on prepay market for young people with low budget.
Their revenues increased from €43 million in 2006 to €457.6
million in 2013.
The approach to warfare has spilled over into business
competition leading the companies to design and implement
strategies similar to those of military. Not that these strategies
are always successful, companies will continue to use them in
their battlefield.
References:
1History of Android Phones : https://www.cnet.com/news/a-brief-history-of-
android-phones/
2Reference: http://androidandme.com/2011/06/news/android-and-its-blitzkrieg-
strategy-are-about-to-overrun-blackberry-kill-rim-in-the-process/
3Reference: https://www.statista.com/statistics/271496/global-market-share-held-
by-smartphone-vendors-since-4th-quarter-2009/
4Reference: https://techcrunch.com/2010/06/22/the-sad-tale-of-nokias-sinking-
market-cap-where-i-come-over-all-nostalgic/
5Reference: http://steconomiceuoradea.ro/anale/volume/2008/v4-management-
marketing/024.pdf

11
Auctions: A Critical Analysis
Rahul Kasera
Background
On September 29, 2016, nearly 2300 megahertz (MHz) of
airwaves is available to be sold, which is expected to garner
Rs.5.6 trillion in revenue. Also, the highly efficient 700 MHz
band is on sale – the government wants to improve the Quality
of Service to the end consumers. However, the incumbents are
viewing the reserve prices to be too high to be reasonable
given that they are already under high financial leverage – this
attitude has made the analysts skeptical of a lukewarm
response to the auctions
Commentary
With the spectrum auctions lurking around the corner, an air of
anxiety can be seen among the telcos and the various
commentators associated with the telecom space.
Before delving further into the not so straight-forward world of
auctions, it is important to understand why governments opt
for auctions in the very first place. Wouldn’t it be much simpler
to allot the spectrum through a randomized process, designed
for all telcos who meet the minimum infrastructural and
financial requirements?!
Well, allotting spectrum through this random process was the
norm until the US government found out the shortcomings of
the process – more precisely, a few companies who were
allotted these spectrums were incapable of generating
sufficient returns!
Now, looking at it from the government’s perspective keeping
in the mind that allotting these spectrums are a significant
source of revenue, auctions tend to increase the amount
collected as each person pays as per their perceived value of
the spectrum thereby driving greater returns.
Also, the reason why we mentioned at the very outset that
auctions are not as ‘straight forward’ as shown in movies is due
to the fact that the auction process, if not carefully designed,
can lead to dire consequences. To lend credibility to our
argument, consider the spectrum auction held in New Zealand
in the 1990s where the entire spectrum was auctioned off for
just NZD 6!
It is primarily for this reason that renowned economists and
game theorists are often roped in by the government to design
the auctions.
It is important to look at a few well accepted auction
methodologies:
• First price sealed bid auctions – The participants enter their
bids in a sealed envelope which are handed over to the
auctioneer. The highest bidder wins the auction paying an
amount equal to his bid. These are also known as
simultaneous or static first price sealed bid auctions.
• Second price sealed bid auction – Also known as Vickery
auctions and similar to first price sealed bid auction, the
highest bidder wins the auction. However, the price paid by
the winner is equal to the second highest bid!
• Open Ascending bid auctions – This is something that all
movie-goers are familiar with. The auctioneer usually stands
with a hammer and announces increasing bids. The last
person standing at the current bid wins the auction and
pays an equivalent amount.
• Open Descending bid auctions – Also known as Dutch
auctions, these auctions happen in exactly the opposite
direction as that of the open ascending bid auction. The
prices are progressively lowered and the last person
standing at the current amount wins the auction. Such
sights are very common for the bond auctions wherein the
yields are lowered through the course of the auction.
Shifting our focus back on the possible shortcomings of the
auctions, a few prominent ones are as follows:
• Winner’s Curse: As we mentioned earlier that auctions are
all about the bidders paying what they perceive to be the
true value of the object. However, one important thing to
note is that these perceptions arise from information and
not everybody has the access to all the information!
While a bidder outbids all the others, he ends up paying
more than what the others would have, had their bids been
the highest!
This is precisely the basis for the winner’s curse which
implies that the winners might end up paying more than
what the object is worth since the true value is a function of
the optimistic views held by the highest bidder and no so
optimistic (pessimistic) views held by the other bidders!

12
• Collusion: Imagine two fruit sellers for whom selling fruits is
the way to sustain their families. In all practicality, they
would tend to undercut each other in an effort to sell
greater volumes. But does this maximize their combined
profits?!
If they were any smarter, they would instead join forces and
artificially drive up the prices, maximising their combined
profits. This is exactly what the concept of collusion is all
about.
In auctions, collusion happens when co-bidders
‘ingeniously’ signal each other of their respective intent.
For instance, in the UK spectrum auctions held in199x,
bidders indicated their interest in specific regions by
affixing the last two letters of the respective pin codes to
their bids. Such collusion is prevented by mandating that
bidders have to select from a drop down menu of bid
increments when deciding how much to bid in a
subsequent round.
• Entry Deterrence and Predation: A major area of concern of
practical auction design is to attract bidders, since an
auction with too few bidders risks being unprofitable for
the auctioneer (Bulow and Klemperer, 1996) and potentially
inefficient. As a result, other firms have little incentive to
enter the bidding, and may not do so if they have even
modest costs of bidding. While ascending auctions are
particularly vulnerable to lack of entry, other auction form
scan result in similar problems if the costs of entry and the
asymmetries between bidders are too large.
While we have a listed just a few prominent shortcomings of
the auction designing process, we hope it gives the reader a
brief idea of the complexities involved with designing the
auction process and the need for designing a full proof
mechanism.
One mechanism that we as a team felt that could yield effective
results is the use of the Anglo Dutch mechanism of auctions.
Anglo Dutch Auctions
A combination of the ascending English auctions and Dutch
sealed bid auctions.
The entire auction process is divided into two different phases:
• First, English phase, in which bidders are asked their
willingness to pay at a specific price. It helps in establishing
a provisional market value for the good. Bidders have an
incentive to continue in the auction while the closing price
is lower than their valuation.
• Second, the Dutch phase, in which bidders are encouraged
to bid as soon as possible in a concealed manner
This design seeks to counter the shortcomings of the
traditional auction constructs. While the English phase leads to
an efficient outcome and reduces the chances of “entry
deterrence and predation”, the Dutch phase ensures “reduced
collusion” and “lower entry barriers”.
Source: Klemperer, P., What really matters in auction design,
August 2001
It remains to be seen what the outcome of the spectrum
auctions would be but for game theory enthusiasts , it will be
an interesting unfurling of events considering the race has just
heated up with Jio coming into the fray.

13
Assumptions & Decisions
Aiswarjya Mahapatra
Assumptions & Decisions
Assumptions are a core part of strategic planning and decision
making. Well-considered assumptions make your plan smart
and relevant. They give you a logical foundation and a
consistent grounding in reality. The only catch is that
assumptions have an extremely high rate of either being
inaccurate or turning obsolete. False assumptions not only
result in sub-par decisions but also loss of reputation. Hence,
most successful decision makers try to keep themselves in tune
with existing realities. The effects of assumptions on decisions
are best captured in politics. The curious case of Mikhail
Gorbachev is one in which these effects are observable.
In 1985, when Mikhail Sergeivich Gorbachev stepped onto the
world stage as the leader of the Union of Soviet Socialist
Republics (USSR) he realised that he needed to do something
different from his predecessors. Although the Soviet Union had
achieved military parity with the USA, its economy was
struggling and its citizens were chaffing under relatively poor
living standards and a lack of freedom.
Gorbachev assumed that rapid modernisation and increased
worker productivity would resuscitate the economy. But it
turned out that his assumptions were wrong. There was a
deeper malaise in the system and hence he initiated an
overhaul of the economic and political system. The two
important cornerstones of his next steps were glasnost
(openness) and perestroika (restructuring). Through these he,
in line with popular sentiment, democratized the electoral
system, introduced a freer market, reduced the USSR’s nuclear
warheads and gave the press the freedom to criticise the
government. All such activities would have been considered
sacrilegious during Stalin’s totalitarian regime. He openly
voiced support to all reformist communists in the Soviet bloc.
These actions lead to the fall of what was, at that time, known
as the Iron Curtain.
The success of Gorbachev’s strategies drew the ire of a majority
of the members of the Communist party and he faced a coup in
1991. But the then democratically elected Russian President
Boris Yeltsin came to his rescue. The people empowered by
Gorbachev had saved him.
To strengthen his position Gorbachev entered a strategic
political alliance with Yeltsin. Unfortunately for him, all Soviet
structures were falling apart and leaders of member states
started asserting their power. Eventually the Russian
government, under Yeltsin, assumed the functions of the
collapsing Soviet government. Finally on December 25th 1991,
Gorbachev resigned from the presidency of the Soviet Union,
which ceased to exist that same day.
Strategies are formulated based on assumptions. Mikhail
Gorbachev’s story shows the impact of inaccurate assumptions
on strategy. He makes such assumptions at multiple instances
during the course of the story. Gorbachev was a staunch
believer in Communism and assumed that the Soviet people
also believed in it as much as he did. Thus, he tried
reinvigorating the Soviet economy by superficial measures.
Unfortunately, his strategy fails due to the obsolescence of his
initial assumption. The people desired betterment in their
livelihoods but unfortunately the Communist Party and the
communist way of life had become a hindrance to swift
reforms. Two years later he realized his folly and unleashed a
radically different strategy of glasnost (openness) and
perestroika (restructuring). He assumed that these two
measures would enhance both his international stature as well
as consolidate the Soviet Union’s position. At this point he
believed that he could coax the fossil called the Communist
Party into democratic reform. Although he won a Nobel Prize
for his actions, the entire Soviet bloc crumbled. Finally he
assumed that he could control the nation, without Soviet
institutions like the KGB, in spite of the growing powers of
democratically elected leaders. Unfortunately for him his
strategy backfired again. Boris Yeltsin, the Russian leader,
banned the Communist Party from Russia and with it
Gorbachev’s beloved USSR collapsed.
Gorbachev might have had the best of intentions but
unfortunately he failed to deliver. Politicians rarely admit
mistakes, but again Gorbachev is of a different class. He even
went on to publicly admit that the erred at a few instances
during is tumultuous reign. Most of these errors (like clinging
on to Communist principles, trusting his arch-rival Boris Yeltsin
etc.) can be directly attributed to the fact that his assumptions
were not in sync with ground realities.
References:
http://www.history.com/topics/cold-war/perestroika-and-glasnost
http://www.bbc.co.uk/history/people/mikhail_gorbachev

1. The Thinkers50 is a biennial ranking of the most influential
management thinkers in the world. It was first launched in 2001
and have been described as the ‘Oscars of Management
Thinking’.
2. IBM was granted the highest number of U.S. patents in 2015. Its
total of 7355 patents is higher than that of Google, Microsoft and
Apple combined.
3. Clayton Christensen, a Harvard Business School professor, coined
the term Disruptive Technologies in 1995. He later replaced it
with the term Disruptive Innovation because he recognized that
few technologies are intrinsically disruptive or sustaining in
character.
4. Amazon recently announced that it would be experimenting with
a 30 hour work week for select employees. The program will have
a few technical teams made up entirely of part-time workers.
Did You Know?
5. Company of the Month – Volkswagen AG
a) Annual revenue 2015 - $237 billion. This was marginally higher than Toyota,
which currently is the world’s largest automobile manufacturer by volume.
b) In German, Volkswagen means ‘the People’s Automobile’. Other than the
flagship brand it also owns brands like Audi, Bentley, Bugatti, Lamborghini,
Porsche, Skoda and Ducati.
c) Diesel Emissions Scandal – It led to a revenue drop of 12%, a record loss of
$1.5 billion as well as a change in CEO. In a bid to reinvent itself Volkswagen
has also changed its slogan to ‘Volkswagen’ from the popular ‘Das Auto’.
14

1
Team strategist
15Team Strategist

ABOUT STRATEGIST
Strategist is the strategy and consulting club of MDI. The club strives to retain,
extend and leverage the interest of the students in the area of strategy beyond
classrooms. It acts as a pillar of the strategic activities in the institute. As strategy
fits with all the functional areas - finance, marketing, IT, and HR; Strategist works
closely with all other academic clubs to gain synergies and provide a holistic
approach. Members engage and promote various activities like M&A Vista, deals
analysis, sector study, regular discussions on varied topics including consulting to
develop strategic bent of mind. The club comes up with theoretical compendium
and games to make learning strategy more fun and interesting. The club has
strong ties with the industry and invites prominent CXOs as guest speakers.
The club undertakes regular consulting assignments under the guidance of
eminent professors. These projects provide an opportunity to students to apply
theoretical knowledge to practical problems and come out with innovative
solutions.
CONTACT

Stratelogue September 2016

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