New

(Daily Information Capsules for all those who want to fathom learning in all its depths)

Date: 7 th March 2004

(To be used by faculty members
AND
a copy to be kept for students reference in the Library too)

CONTENTS
The following pages contain:
1.
2.
3.
4.

N e w s T r a c k e r : The edit will give you links to important and happening news,
which you just cant afford to miss. Follow the link and read the articles
suggested.
P o o l o f K n o w l e d g e : A collection of definitions and meanings of terms from a
selected field of study.
S p e c i a l i z e r : An article by the gurus on Management Fundamentals.
Q u i z : A GK quiz on Current Affairs, Brand Quiz and Companies Punch lines
etc., to check your reading habits and to hone your memorizing skills!

Drishti
(1) of (11)

NewsTracker
Instructions: We suggest you copy-paste the link on the address bar of your Internet explorer. Avoid keying it
through your keyboard because it might be prone to errors.

HOW THE US FUELS SHINING INDIA

Believers in India Shining will be delighted that GDP growth in October-December was 10.4 per cent. Even
allowing for the artificial boost given by a good monsoon, India seems to be in the fast lane. Its all thanks to
Vajpayee, the BJP will tell you. The truth is more complex. Some of the credit goes to a barely recognized
phenomenon, the globalization of pump-priming. US President Bush has been running the biggest fiscal deficit
in history, slashing tax rates. At the same time, the US Federal Reserve has slashed short-term interest rates
to barely one per cent, the lowest in recent memory. The most recent data for industrial growth suggests 23
per cent growth in China, 16.7 per cent in Malaysia, 11.6 per cent in Thailand and 7.5 per cent in Russia,
against around 7 per cent in India. All these countries have also enjoyed booming stock markets over the last
year. This is no co-incidence. It is a consequence of the globalization of the US economic stimulus. Through
this, Bush may help re-elect Vajpayee but not himself. How ironic if that happens!
http://timesofindia.indiatimes.com/articleshow/598782.cms

SHIAS JOIN THE RESISTANCE

THE OCCUPATION OF Iraq by the United States and its few allies has become increasingly untenable with
the Shia community in the country joining the armed uprising against the foreign forces. The Coalition
Provisional Authority, the instrumentality with which the occupation is administered, prefers to characterise the
violent clashes between foreign troops and a militia loyal to Shia cleric Moqtada al Sadr as nothing more than
isolated and easily controllable incidents. However, the Shias are not likely to quieten down soon, as more
than 60 members of the community have already been killed in clashes in Baghdad, Kufa and several other
towns in southern Iraq. They may well be further inflamed if the Authority carries out its threat to arrest Mr. Al
Sadr. Other political and paramilitary organisations, representing Sunnis as well as Shias, are understood to
have contacted the firebrand cleric. An occupation force already under considerable pressure from guerrillas
will find itself in a dire situation if the insurgents act upon Mr. Al Sadr's instructions that they should emulate
Hamas and Hizbollah in the efforts to "intimidate their enemies." While Grand Ayatollah Ali al-Sistani and other
senior clerics do not approve of the politics or methods of the Sadr-led militia, they might not be able to stop
the masses from rallying to its cause. Read the article to know more.
http://www.hindu.com/2004/04/07/stories/2004040703251000.htm

FIX RESPONSIBILITY FOR MISDEEDS

The stock market regulator, Sebi, has barred Samir Arora, former chief investment officer of Alliance Capital
Mutual Fund (ACMF), from dealing in securities for five years. This is not the first time an individual has been
banned from the market. But what sets Sebis order apart is that this is one of the rare occasions that an
individual has been so severely penalised for acts undertaken in his official capacity in this case as chief
investment officer of the fund. The Sebi order in this case notes, It may be, therefore, essential, in appropriate

Drishti
(2) of (11)

cases, to lift the corporate veil and take action against the individuals, whose conduct is primarily responsible
for the misconduct and or violation of law by corporate body besides action against the corporate body. While
it is entirely appropriate that responsibility should be fixed so that the guilty are not allowed to go scot free,
what is strange is that no questions seem to have been asked about the role and responsibility of the trustees
and the officials of the asset management company. Why have they been absolved? Read the article to get
the answers.
http://economictimes.indiatimes.com/articleshow/599645.cms

GROWING LINKAGES
TWO RECENT RBI reports capture the broad trends on two interrelated aspects of the external economy
the balance of payments and foreign reserves, during the first nine months of the financial year 2003-04. The
payments surplus of $7.2 billion for the October-December 2003 quarter (up from the $6.1 billion during the
corresponding period the previous year) helped raise the forex reserves to $101 billion by December last year.
Follow the link to get your facts right and learn more about the rising rupee.
http://www.hindu.com/2004/04/06/stories/2004040601991000.htm

Drishti
(3) of (11)

Pool of knowledge
All the terms and definitions that have baffled you all these days. Get acquainted with them and solve all your
queries.

Marketing:
Market-Based Marketing Organisation - a marketing structure of an organisation in which staff specialists
have responsibility for particular markets (rather than for particular products of the organisation); an
appropriate structure when the needs of each market served by the firm differ widely.
Marketing - the systematic planning, implementation and control of a mix of business activities intended to
bring together buyers and sellers for the mutually advantageous exchange or transfer of products.
Marketing Advantage - the competitive edge that can be gained by more accurately identifying customer
needs and wants and by developing products which deliver superior satisfactions, or by being more effective
and efficient in positioning, promotion or distribution.
Marketing Audit - the periodic, orderly, objective review, analysis and evaluation of an organisation's
marketing structure, goals, strategies, action plans, performance and results.
Marketing Budget - the amount allocated for expenditure on marketing activities in a specified period.
Marketing Channels - the path or route taken by goods and services as they move from producer to final
consumer; in addition to the goods and services themselves, title, information, promotion and payment also
move along the marketing channels carry. Also called Channels of Distribution.
Marketing Communications - the formal and informal messages that sellers transmit to buyers; the
systematic (planned) as well as the unsystematic (unplanned) promotion by a firm of its products to its
markets.
Marketing Concept - a business orientation or philosophy that holds that organisational success is dependent
upon the efficient identification of the needs and wants of target markets and the effective satisfaction of them.
Marketing Consultants - independent marketing specialists hired by companies, usually on a short-term
contract basis, to advise on a wide range of marketing matters, including marketing planning and
management, marketing research, marketing communications, etc.
Marketing Control - activities involved in checking that marketing action plans are producing the desired
results, and the taking of corrective action if they are not.
Marketing Controller - an individual, usually with training in finance and marketing, responsible for analysing
and evaluating a company's marketing expenditures.
Marketing Cost Analysis - a tool used in marketing planning in which the costs associated with selling, billing,
warehousing, promoting and distributing of certain products or product groups, or to certain customers or
customer groups, are examined to assess their profitability.

Drishti
(4) of (11)

Marketing Database - data brought into an organisation through marketing research projects or a marketing
information system and used as an aid to decision making.
Marketing Department - a division within a company with responsibility for the planning and co-ordination of all
marketing activities.
Marketing Department Marketing - a term used to refer to the orientation of an organisation which has
established a separate department to look after its marketing activities but which is not totally imbued with the
marketing philosophy.
Marketing Environment - the internal and external influences which affect marketing decision-making and
have an impact on its performance.
Marketing Era - the period following the end of the Second World War which saw the emergence of the
marketing concept as the prevailing trend in business.
Marketing Ethics - the standards or moral principles governing the marketing profession.
Marketing Expense-To-Sales Ratio - a marketing control measure used to determine whether the cost of the
marketing activities engaged in to produce the level of sales in a given period was excessive; total marketing
expenses are expressed as a percentage of total sales revenue.
Marketing Implementation - the activities involved in putting marketing strategies into action in order to
achieve marketing objectives.
Marketing Information System - an organisational section or entity whose purpose is to gather, organise,
store, retrieve and analyse data relevant to a firm's past, present and future operations on an on-going basis in
order provide support for management's marketing decisions; its four major components are an internal
records bank (internally generated marketing information); a marketing intelligence bank (information from
external sources); an analytical bank (statistical techniques and mathematical models); and an "ad hoc"
marketing research bank (research into non-recurring problems).
Marketing Intelligence - information gathered from sources external to the firm for use in decision-making

Drishti
(5) of (11)

Specializer
Groups that Work-III
By Gerard M Blair

Clarification
In any project management, the clarity of the specification is of paramount importance - in group work it is
exponentially so. Suppose that there is a 0.8 chance of an individual understanding the task correctly (which
is very high). If there are 8 members in the group then the chance of the group all working towards that
same task is 0.17. And the same reasoning hold for every decision and action taken throughout the life of
the group.
It is the first responsibility of the group to clarify its own task, and to record this understanding so that it can
be constantly seen. This mission statement may be revised or replaced, but it should always act as a focus
for the groups deliberations and actions.
The mouse
In any group, there is always the quiet one in the corner who doesn't say much. That individual is the most
under utilized resource in the whole group, and so represents the best return for minimal effort by the group
as a whole. It is the responsibility of that individual to speak out and to contribute. It is the responsibility of
the group to encourage and develop that person, to include him/her in the discussion and actions, and to
provide positive reinforcement each time that happens.
The loud-mouth
In any group, there is always a dominant member whose opinions form a disproportionate share of the
discussion. It is the responsibility of each individual to consider whether they are that person. It is the
responsibility of the group to ask whether the loud-mouth might like to summarize briefly, and then ask for
other views.
The written record
Often a decision which is not recorded will become clouded and have to be rediscused. This can be avoided
simply by recording on a large display (where the group can clearly see) each decision as it is made. This
has the further advantage that each decision must be expressed in a clear and concise form which ensures
that it is clarified.
Feedback (negative)
All criticism must be neutral: focused on the task and not the personality. So rather than calling Johnie an
innumerate moron, point out the error and offer him a calculator. It is wise to adopt the policy of giving
feedback frequently, especially for small things - this can be couched as mutual coaching, and it reduces the
destructive impact of criticism when things go badly wrong.
Every criticism must be accompanied by a positive suggestion for improvement.

Drishti
(6) of (11)

Feedback (positive)
If anyone does something well, praise it. Not only does this reenforce commendable actions, but it also
mollifies the negative feedback which may come later. Progress in the task should be emphasised.
Handling failure
The long term success of a group depends upon how it deals with failure. It is a very British tendency to
brush off failure and to get on with the next stage with no more than a mention - it is a very foolish tendency.
Any failure should be explored by the group. This is not to attribute blame (for that is shared by the whole
group as an individual only acts with delegated responsibility), but rather to examine the causes and to
devise a mechanism which either monitors against or prevents repetition. A mistake should only happen
once if it is treated correctly.
One practise which is particularly useful is to delegate the agreed solution to the individual or sub-group who
made the original error. This allows the group to demonstrate its continuing trust and the penitent to make
amends.
Handling deadlock
If two opposing points of view are held in the group then some action must be taken. Several possibly
strategies exist. Each sub-group could debate from the other sub-group's view-point in order to better
understand it. Common ground could be emphasised, and the differences viewed for a possible middle or
alternative strategy. Each could be debated in the light of the original task. But firstly the group should
decide how much time the debate actually merits and then guillotine it after that time - then, if the issue is not
critical, toss a coin.
Sign posting
As each small point is discussed, the larger picture can be obscured. Thus it is useful frequently to remind
the group: this is where we came from, this is where we got to, this is where we should be going.
Avoid single solutions
First ideas are not always best. For any given problem, the group should generate alternatives, evaluate
these in terms of the task, pick one and implement it. But most importantly, they must also monitor the
outcome, schedule a review and be prepared to change the plan.
Active communication
Communication is the responsibility of both the speaker and the listener. The speaker must actively seek to
express the ideas in a clear and concise manner - the listener must actively seek to understand what has
been said and to ask for clarification if unsure. Finally, both parties must be sure that the ideas have been
correctly communicated perhaps by the listener summarizing what was said in a different way.

Drishti
(7) of (11)

Conclusion
Groups are like relationships - you have to work at them. In the work place, they constitute an important unit
of activity but one whose support needs are only recently becoming understood. By making the group itself
responsible for its own support, the responsibility becomes an accelerator for the group process. What is
vital, is that these needs are recognized and explicitly dealt with by the group. Time and resources must be
allocated to this by the group and by Management, and the group process must be planned, monitored and
reviewed just like any other managed process.

Drishti
(8) of (11)

Quiz!
DIRECTIONS: For the following questions, choose the correct option.
Q1.

Pick the odd one out?

(1)
Rahul Gandhi
(3)
Varun Gandhi

Q2.

Salil Chaturvedi is the CEO of which company?

(1)
Peter England
(2)
(3).
Allan Solly
(4)

Q3.

Grand Vitara is a new car model launched by which company?

(1)
Maruti Suzuki
(2)
Hyundai Motors
(3)
General Motors
(4)
Tata Motors

Q4.

Which of the following countries allow opinion polls?

(1)
China
(2)
(3)
Singapore
(4)

Q5.

Carolyn Bessette was the wife of which American President?

(1)
John F. Kennedy
(2)
George Bush
(3)
George W. Bush
(4)
Abraham Lincoln

Q6.

Muammar Gadaffi belongs to which country?

(1)
Argentina
(3)
Egypt

(2)
(4)

Libya
Kenya

Q7.

Who is the CEO of IBM?

(1)
Steve Jobs.
(3)
N. Nilekani

(2)
(4)

Salil Chaturvedi.
Samuel Palmisano

Q8.

Which of the following company does not find a place in the Forbes list of 2000 top firms?
(1)
GAIL
(2)
ITC
(3)
IDBI
(4)
None of the above

Q9.

Mirage multi-role fighters, which would bolster Indias ageing air, combat fleets, belongs to which
country?
(1)
China
(2)
Russia
(3)
Japan
(4)
France

Q10.

Sarva Shiksha Abhiyan has got a $1 billion grant from which organization?
(1)
World Bank
(2)
IMF
(3)
W.H.O
(4)
UNESCO

(2)
(4)

Drishti
(9) of (11)

Tushar Gandhi
Sonia Gandhi
Provogue
Van Huesen

Egypt
U.S.A

Q11.

US has not welcomed which of the following countries to NATO?

(1)
Bulgaria
(2)
Latvia
(3)
Estonia
(4) Libya

Q12.

Amitabh Bachchan campaigns for which of the following brands?

(1)
Asian Paints
(2)
Shalimar
(3)
Nerolac
(4)
Berger

Q13.

If Shahrukh & Sachin belong to the same group, then Amir Khan & _________ also belong to the
same group.
(1)
Amitabh Bachchan
(2)
V. Sehwag
(3)
Salman Khan
(4)
None of the above.

Q14.

Froogle put along with Googles other tools provides what services?
(1)
Statistical Search
(2)
Locations
(3)
Online Games
(4)
Shopping

Q15.

Identify the company with the punchline Going Beyond Expectations

(1)
Indian Airlines
(2)
Jet Airways
(3)
Malaysian Airlines
(4)
British Airways

Drishti
(10) of (11)

Answers
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.

Ans.(2)
Ans.(2)
Ans.(1)
Ans.(4)
Ans.(1)
Ans.(2)
Ans.(4)
Ans.(4)
Ans.(4)
Ans.(1)
Ans.(4)
Ans.(3)
Ans.(2)
Ans.(4)
Ans.(3)

Drishti
(11) of (11)