Noida/New Delhi: The India head of a U.S.-based software firm was dragged out of his car and viciously beaten up in Noida, four days after workers lynched another top executive in the area, forcing Indian companies to warn Saturday of a backlash if authorities did not provide security in the industrial region of Uttar Pradesh bordering Delhi.Kashir Dwivedi, 37, chief executive officer (CEO) of Expedience e-solutions India, was waylaid Friday night on a road while he drove his car to a Sai Baba temple. The company he heads has its global headquarters at Houston, Texas.Speaking to IANS, a rattled Dwivedi said: "I left my office in Noida Sector 63 around 9.30 p.m. Four men in a Tavera overtook my (Honda Civic) car and stopped it ahead of me in such a way that my car got trapped."They tried to open my car doors. Since they had got automatically locked, they brought out an iron rod from their car, smashed open the window and dragged me out on the road."They tried to pick me up like a sack of potatoes and push me inside their car. I resisted and kept rolling on the road to avoid them, shouting for help."By this time, a crowd had assembled. So the men fled. Before that, one of them hit me on the head with the iron rod. I lost consciousness for a while."When he regained consciousness, Dwivedi called his wife on the mobile telephone, who rushed him to the nearby Kailash Hospital. He was under observation in the hospital through the night and discharged Saturday.A resident of Sector 61 in Noida where his office is located, Dwivedi said he was scared to return to work although there has never been any labour trouble there. "This city seems unsafe," said his wife Madhu.Police said they were doing their best to track down the four attackers.The brazen attack came four days after Lalit Kishore Choudhary, 47 and CEO and India head of Graziano Transmissioni India, was lynched by workers sacked earlier.Choudhary was beaten to death and some of his colleagues were seriously injured in that attack while the police, according to company executives, did not turn up despite repeated phone calls.When he regained consciousness, Dwivedi called his wife on the mobile telephone, who rushed him to the nearby Kailash Hospital. He was under observation in the hospital through the night and discharged Saturday.A resident of Sector 61 in Noida where his office is located, Dwivedi said he was scared to return to work although there has never been any labour trouble there. "This city seems unsafe," said his wife Madhu.Police said they were doing their best to track down the four attackers.The brazen attack came four days after Lalit Kishore Choudhary, 47 and CEO and India head of Graziano Transmissioni India, was lynched by workers sacked earlier.Choudhary was beaten to death and some of his colleagues were seriously injured in that attack while the police, according to company executives, did not turn up despite repeated phone calls.
--> Source: http://www.siliconindia.com/shownews/47169/3
Tuesday, September 30, 2008
"When a milker leaves I lose one cow"
Recruiting the right employees is easy. But the challenge is to motivate and retain them. Retaining the right employees in the right place is the secret of any organisation`s success.Usually the employees are loyal to their organisations. But they become unhappy job-hoppers when they feel that they are not valued and not given enough challenges and opportunities.It is true that everyone is looking for better prospects and the present organisation is often only a pole-vault to jump into better pastures. The CEO to the frontline executive, all are waiting for the right opportunity to migrate.Employee turnover is costly and it makes the organisations less efficient and productive. If we want to retain the top performers we need to know why people leave. The reasons for leaving may be many.1. Lack of opportunities and challengesFor many young and bright employees of today money is not a concern. They are looking for more than compensation packages and benefits. They want challenges and job satisfaction. If you want to retain them, offer them not money but challenges and risks. They thrive in challenges and love risks. They look for job satisfaction and contentment in their work. Job satisfaction comes out of their relationship with the management; it`s the effect of good work environment and is the fruit of their commitment to a vision.2. Lack of management supportOne of the main reasons why people quit is the lack of support from the top management. The top management itself is often not aware of what is going on and not sure of what decisions to be taken. The victims of their poor communication and management are always those at the bottom. The only thing they communicate well is to tell the employees that they are responsible for every failure. If you want your employees to be loyal to you, support them when they need you. Be visibly present by their side in their struggles and appreciate their victories.3. Lack of monetary rewardsFor many people today telling, "I don`t care about money but I need challenges" is a fashion. Most of the employees are there with you because of the rewards you give. When they feel that they are paid less than what they deserve, when they feel that you are not faithful to your promise to increase their package, when they feel that you don`t reward hard work and commitment its time for them to bid you bye. Better compensation and benefits will always keep them by your side.4. Lack of career development possibilitiesNo one likes to be in the same place for long. People long for new experiences, changes and growth. Once they know that their present organisation doesn`t provide them opportunities for their career, personal and professional growth they feel suffocated in that rigid system. In such a dissatisfied atmosphere they long for liberation and when the right opportunity comes they pack up and leave you.5. Lack of visionary mangersThe supervisors are one main reason why many employees leave. Supervisors and mangers are often shortsighted and fail to place the right employee in the right place. They make a highly talented person become a failure and the employee alone is made accountable for the losses. The management should consist of visionary people who are able to assess the potentials and strengths of the employees and give them the right opportunities and right challenges where they can excel. It must create a positive work environment where people are rewarded and recognized, where free and open communications exist and where people feel excited and thrilled to work.6. Lack of friendly atmosphereOften our workplace is so boring with so many serious people around. The workplace should be a home where people smile, relax and enjoy working. Every morning the person should long to come to work. Friendly and homely place is a must if you want to retain your staff. The management is so much caught up in the web of profit and revenues that it looks at people only as a means to higher profits and forgets to look at them as persons. Listen to the employees, respect them and make work fun for them if you want them. Provide an employee-friendly environment where they can participate in decisions making, execution and evaluation.7. Lack of freedomIf the employee can`t express his ideas and thoughts freely in the organisation he won`t last there. We must create an atmosphere where people feel free to contribute their ideas, criticize the existing systems and try out alternatives to make their work more productive and satisfying. There should be freedom for him to use his talents and skills. There should be freedom to make mistakes.We need to invest in building up retention if we want our organisations to be successful. Recently I read about a dairy manager who said: "Every Time a milker leaves I lose about one cow."We have recruited the best talents; now it`s our duty to motivate and retain them for the health and success of our organisations.
--> Source: Article from Citehr - A good one
--> Source: Article from Citehr - A good one
Monday, September 29, 2008
Top 10 Qualities of an Excellent Manager !!!
An Excellent Manager taps into talents and resources in order to support and bring out the Best in others. An Outstanding Manager evokes possibility in others.
1. Creativity
Creativity is what separates competence from excellence. Creativity is the spark that propels projects forward and that captures peoples` attention. Creativity is the ingredient that pulls the different pieces together into a cohesive whole, adding zest and appeal in the process.
2. Structure
The context and structure we work within always have a set of parameters, limitations and guidelines. A stellar manager knows how to work within the structure and not let the structure impinge upon the process or the project. Know the structure intimately, so as to guide others to effectively work within the given parameters. Do this to expand beyond the boundaries.
3. Intuition
Intuition is the capacity of knowing without the use of rational processes; it`s the cornerstone of emotional intelligence. People with keen insight are often able to sense what others are feeling and thinking; consequently, they`re able to respond perfectly to another through their *deeper understanding. * The stronger one`s intuition, the stronger manager one will be.
4. Knowledge
A thorough knowledge base is essential. The knowledge base must be so ingrained and integrated into their being that they become *transparent, * focusing on the employee and what s/he needs to learn, versus focusing on the knowledge base. The excellent manager lives from a knowledge base, without having to draw attention to it.
5. Commitment
A manager is committed to the success of the project and of all team members. S/he holds the vision for the collective team and moves the team closer to the end result. It`s the manager`s commitment that pulls the team forward during trying times.
6. Being Human
Employees value leaders who are human and who don`t hide behind their authority. The best leaders are those who aren`t afraid to be themselves. Managers who respect and connect with others on a human level inspire great loyalty.
7. Versatility
Flexibility and versatility are valuable qualities in a manager. Beneath the flexibility and versatility is an ability to be both non-reactive and not attached to how things have to be. Versatility implies an openness ¬ this openness allows the leader to quickly *change on a dime* when necessary. Flexibility and versatility are the pathways to speedy responsiveness.
8. Lightness
A stellar manager doesn`t just produce outstanding results; s/he has fun in the process! Lightness doesn`t impede results but rather, helps to move the team forward. Lightness complements the seriousness of the task at hand as well as the resolve of the team, therefore contributing to strong team results and retention.
9. Discipline/Focus
Discipline is the ability to choose and live from what one pays attention to. Discipline as self-mastery can be exhilarating! Role model the ability to live from your intention consistently and you`ll role model an important leadership quality.
10. Big Picture, Small Actions
Excellent managers see the big picture concurrent with managing the details. Small actions lead to the big picture; the excellent manager is skillful at doing both: think big while also paying attention to the details. ~:~ By Jan Gordon ~:~
Source:
http://www.123oye.com/job-articles/hr/qualities-excellent-manager.htm
1. Creativity
Creativity is what separates competence from excellence. Creativity is the spark that propels projects forward and that captures peoples` attention. Creativity is the ingredient that pulls the different pieces together into a cohesive whole, adding zest and appeal in the process.
2. Structure
The context and structure we work within always have a set of parameters, limitations and guidelines. A stellar manager knows how to work within the structure and not let the structure impinge upon the process or the project. Know the structure intimately, so as to guide others to effectively work within the given parameters. Do this to expand beyond the boundaries.
3. Intuition
Intuition is the capacity of knowing without the use of rational processes; it`s the cornerstone of emotional intelligence. People with keen insight are often able to sense what others are feeling and thinking; consequently, they`re able to respond perfectly to another through their *deeper understanding. * The stronger one`s intuition, the stronger manager one will be.
4. Knowledge
A thorough knowledge base is essential. The knowledge base must be so ingrained and integrated into their being that they become *transparent, * focusing on the employee and what s/he needs to learn, versus focusing on the knowledge base. The excellent manager lives from a knowledge base, without having to draw attention to it.
5. Commitment
A manager is committed to the success of the project and of all team members. S/he holds the vision for the collective team and moves the team closer to the end result. It`s the manager`s commitment that pulls the team forward during trying times.
6. Being Human
Employees value leaders who are human and who don`t hide behind their authority. The best leaders are those who aren`t afraid to be themselves. Managers who respect and connect with others on a human level inspire great loyalty.
7. Versatility
Flexibility and versatility are valuable qualities in a manager. Beneath the flexibility and versatility is an ability to be both non-reactive and not attached to how things have to be. Versatility implies an openness ¬ this openness allows the leader to quickly *change on a dime* when necessary. Flexibility and versatility are the pathways to speedy responsiveness.
8. Lightness
A stellar manager doesn`t just produce outstanding results; s/he has fun in the process! Lightness doesn`t impede results but rather, helps to move the team forward. Lightness complements the seriousness of the task at hand as well as the resolve of the team, therefore contributing to strong team results and retention.
9. Discipline/Focus
Discipline is the ability to choose and live from what one pays attention to. Discipline as self-mastery can be exhilarating! Role model the ability to live from your intention consistently and you`ll role model an important leadership quality.
10. Big Picture, Small Actions
Excellent managers see the big picture concurrent with managing the details. Small actions lead to the big picture; the excellent manager is skillful at doing both: think big while also paying attention to the details. ~:~ By Jan Gordon ~:~
Source:
http://www.123oye.com/job-articles/hr/qualities-excellent-manager.htm
Thursday, September 25, 2008
Performance appraial
Hi guys.. like most of you know.. i am working on performance appraisal here....just some observations that i hae made
0 Performance appraisal is always mistaken for Salary appraisal, performance appraisal is just taht performance appraisal... it can be linked to a salary review but that would not be a direct link.
0 Performance appraisla has two objectives 1) to evaluate the employees performance and give feedback for improvement 2) to identify training needs..
0 Last but not the least it can be also used to set you next objective..
Please add to this... i am sure you can
0 Performance appraisal is always mistaken for Salary appraisal, performance appraisal is just taht performance appraisal... it can be linked to a salary review but that would not be a direct link.
0 Performance appraisla has two objectives 1) to evaluate the employees performance and give feedback for improvement 2) to identify training needs..
0 Last but not the least it can be also used to set you next objective..
Please add to this... i am sure you can
Monday, September 22, 2008
Really an excellent article summarizing what has been going on.
What is a sub-prime loan?
In the US, borrowers are rated either as ‘prime’ - indicating that they have a good credit rating based on their track record - or as ‘sub-prime’, meaning their track record in repaying loans has been below par. Loans given to sub-prime borrowers, something banks would normally be reluctant to do, are categorized as sub-prime loans. Typically, it is the poor and the young who form the bulk of sub-prime borrowers.
Why loans were given?
In roughly five years leading up to 2007, many banks started giving loans to sub-prime borrowers, typically through subsidiaries. They did so because they believed that the real estate boom, which had more than doubled home prices in the US since 1997, would allow even people with dodgy credit backgrounds to repay on the loans they were taking to buy or build homes. Government also encouraged lenders to lend to sub-prime borrowers, arguing that this would help even the poor and young to buy houses.
With stock markets booming and the system flush with liquidity, many big fund investors like hedge funds and mutual funds saw sub-prime loan portfolios as attractive investment opportunities. Hence, they bought such portfolios from the original lenders. This in turn meant the lenders had fresh funds to lend. The sub prime loan market thus became a fast growing segment.
What was the interest rate on sub-prime loans?
Since the risk of default on such loans was higher, the interest rate charged on sub-prime loans was typically about two percentage points higher than the interest on prime loans. This, of course, only added to the risk of sub-prime borrowers defaulting. The repayment capacity of sub-prime borrowers was in any case doubtful. The higher interest rate additionally meant substantially higher EMIs than for prime borrowers, further raising the risk of default.
Further, lenders devised new instruments to reach out to more sub-prime borrowers. Being flush with funds they were willing to compromise on prudential norms. In one of the instruments they devised , they asked the borrowers to pay only the interest portion to begin with. The repayment of the principal portion was to start after two years.
How did this turn into a crisis?
The housing boom in the US started petering out in 2007. One major reason was that the boom had led to a massive increase in the supply of housing. Thus house prices started falling. This increased the default rate among subprime borrowers, many of whom were no longer able or willing to pay through their nose to buy a house that was declining in value.
Since in home loans in the US, the collateral is typically the home being bought, this increased the supply of houses for sale while lowering the demand, thereby lowering prices even further and setting off a vicious cycle. That this coincided with a slowdown in the US economy only made matters worse. Estimates are that US housing prices have dropped by almost 50% from their peak in 2006 in some cases. The declining value of the collateral means that lenders are left with less than the value of their loans and hence have to book losses.
How did this become a systemic crisis?
One major reason is that the original lenders had further sold their portfolios to other players in the market. There were also complex derivatives developed based on the loan portfolios, which were also sold to other players, some of whom then sold it on further and so on.
As a result, nobody is absolutely sure what the size of the losses will be when the dust ultimately settles down. Nobody is also very sure exactly who will take how much of a hit. It is also important to realize that the crisis has not affected only reckless lenders. For instance, Freddie Mac and Fannie Mae, which owned or guaranteed more than half of the roughly $12 trillion outstanding in home mortgages in the US, were widely perceived as being more prudent than most in their lending practices. However, the housing bust meant that they too had to suffer losses — $14 billion combined in the last four quarters - because of declining prices for their collateral and increased default rates.
The forced retreat of these two mortgage giants from the market, of course, only adds to every other player’s woes.
What has been the impact of the crisis?
Global banks and brokerages have had to write off an estimated $512 billion in sub-prime losses so far, with the largest hits taken by Citigroup ($55.1 bn) and Merrill Lynch ($52.2 bn). A little more than half of these losses, or $260 bn, have been suffered by US-based firms, $227 billion by European firms and a relatively modest $24 bn by Asian ones. Despite efforts by the US Federal Reserve to offer some financial assistance to the beleaguered financial sector, it has led to the collapse of Bear Sterns, one of the world’s largest investment banks and securities trading firm. Bear Sterns was bought out by JP Morgan Chase with some help from the Fed.
The crisis has also seen Lehman Brothers - the fourth largest investment bank in the US - file for bankruptcy. Merrill Lynch has been bought out by Bank of America. Freddie Mac and Fannie Mae have effectively been nationalized to prevent them from going under.
Reports suggest that insurance major AIG (American Insurance Group) is also under severe pressure and has asked for a $40 bn bridge loan to tide over the crisis. If AIG also collapses, that would really test the entire financial sector.
How is the rest of the world affected?
Apart from the fact that banks based in other parts of the world also suffered losses from the subprime market, there are two major ways in which the effect is felt across the globe. First, the US is the biggest borrower in the world since most countries hold their foreign exchange reserves in dollars and invest them in US securities.
Thus, any crisis in the US has a direct bearing on other countries, particularly those with large reserves like Japan, China and - to a lesser extent - India. Also, since global equity markets are closely interlinked through institutional investors, any crisis affecting these investors sees a contagion effect throughout the world.
What is a sub-prime loan?
In the US, borrowers are rated either as ‘prime’ - indicating that they have a good credit rating based on their track record - or as ‘sub-prime’, meaning their track record in repaying loans has been below par. Loans given to sub-prime borrowers, something banks would normally be reluctant to do, are categorized as sub-prime loans. Typically, it is the poor and the young who form the bulk of sub-prime borrowers.
Why loans were given?
In roughly five years leading up to 2007, many banks started giving loans to sub-prime borrowers, typically through subsidiaries. They did so because they believed that the real estate boom, which had more than doubled home prices in the US since 1997, would allow even people with dodgy credit backgrounds to repay on the loans they were taking to buy or build homes. Government also encouraged lenders to lend to sub-prime borrowers, arguing that this would help even the poor and young to buy houses.
With stock markets booming and the system flush with liquidity, many big fund investors like hedge funds and mutual funds saw sub-prime loan portfolios as attractive investment opportunities. Hence, they bought such portfolios from the original lenders. This in turn meant the lenders had fresh funds to lend. The sub prime loan market thus became a fast growing segment.
What was the interest rate on sub-prime loans?
Since the risk of default on such loans was higher, the interest rate charged on sub-prime loans was typically about two percentage points higher than the interest on prime loans. This, of course, only added to the risk of sub-prime borrowers defaulting. The repayment capacity of sub-prime borrowers was in any case doubtful. The higher interest rate additionally meant substantially higher EMIs than for prime borrowers, further raising the risk of default.
Further, lenders devised new instruments to reach out to more sub-prime borrowers. Being flush with funds they were willing to compromise on prudential norms. In one of the instruments they devised , they asked the borrowers to pay only the interest portion to begin with. The repayment of the principal portion was to start after two years.
How did this turn into a crisis?
The housing boom in the US started petering out in 2007. One major reason was that the boom had led to a massive increase in the supply of housing. Thus house prices started falling. This increased the default rate among subprime borrowers, many of whom were no longer able or willing to pay through their nose to buy a house that was declining in value.
Since in home loans in the US, the collateral is typically the home being bought, this increased the supply of houses for sale while lowering the demand, thereby lowering prices even further and setting off a vicious cycle. That this coincided with a slowdown in the US economy only made matters worse. Estimates are that US housing prices have dropped by almost 50% from their peak in 2006 in some cases. The declining value of the collateral means that lenders are left with less than the value of their loans and hence have to book losses.
How did this become a systemic crisis?
One major reason is that the original lenders had further sold their portfolios to other players in the market. There were also complex derivatives developed based on the loan portfolios, which were also sold to other players, some of whom then sold it on further and so on.
As a result, nobody is absolutely sure what the size of the losses will be when the dust ultimately settles down. Nobody is also very sure exactly who will take how much of a hit. It is also important to realize that the crisis has not affected only reckless lenders. For instance, Freddie Mac and Fannie Mae, which owned or guaranteed more than half of the roughly $12 trillion outstanding in home mortgages in the US, were widely perceived as being more prudent than most in their lending practices. However, the housing bust meant that they too had to suffer losses — $14 billion combined in the last four quarters - because of declining prices for their collateral and increased default rates.
The forced retreat of these two mortgage giants from the market, of course, only adds to every other player’s woes.
What has been the impact of the crisis?
Global banks and brokerages have had to write off an estimated $512 billion in sub-prime losses so far, with the largest hits taken by Citigroup ($55.1 bn) and Merrill Lynch ($52.2 bn). A little more than half of these losses, or $260 bn, have been suffered by US-based firms, $227 billion by European firms and a relatively modest $24 bn by Asian ones. Despite efforts by the US Federal Reserve to offer some financial assistance to the beleaguered financial sector, it has led to the collapse of Bear Sterns, one of the world’s largest investment banks and securities trading firm. Bear Sterns was bought out by JP Morgan Chase with some help from the Fed.
The crisis has also seen Lehman Brothers - the fourth largest investment bank in the US - file for bankruptcy. Merrill Lynch has been bought out by Bank of America. Freddie Mac and Fannie Mae have effectively been nationalized to prevent them from going under.
Reports suggest that insurance major AIG (American Insurance Group) is also under severe pressure and has asked for a $40 bn bridge loan to tide over the crisis. If AIG also collapses, that would really test the entire financial sector.
How is the rest of the world affected?
Apart from the fact that banks based in other parts of the world also suffered losses from the subprime market, there are two major ways in which the effect is felt across the globe. First, the US is the biggest borrower in the world since most countries hold their foreign exchange reserves in dollars and invest them in US securities.
Thus, any crisis in the US has a direct bearing on other countries, particularly those with large reserves like Japan, China and - to a lesser extent - India. Also, since global equity markets are closely interlinked through institutional investors, any crisis affecting these investors sees a contagion effect throughout the world.
newz
Hi guys..
below is a writeup from today's Economic times ....that's just the tip of the ice burg, so to say... according to some experts this is showing signs of a global recession.. that would mean a longer time for recovery .. Europe , US, UK, Euro zone,New Zealand , Australia , Canada are in crisis... South Africa is on the Verge of recession....
Electricity/ oil shortages, high interest rates, soaring inflation, a slumping housing and vehicle market and lower business and consumer confidence are the indicators...
What it means to us is... invest if you get a good bargain in real estate it will pick up,equities is another good investment , pick the right stock at the right price..(study the market and invest when it is low).... reduce your expenditure as the market is very uncertain...
thats it for now..over & out
here is a small writeup from today's Economic times...
Small companies to face the heat of US meltdown
22 Sep, 2008, 0000 hrs IST,Sachin Dave & Ashish Agashe, ET Bureau
From Economic times
It's been exactly a week since Lehman Brothers went bankrupt, Merrill Lynch got sold and American International Group (AIG) was bailed out by an $85 billion US Fed grant. The unprecedented events that unfolded that manic Monday have completely altered the financial landscape of the world.
Back home, as the Sensex plummeted, the mood turned somber. Assurances by the finance minister notwithstanding, the man on the street looked perplexed. Those with a job weren't sure if their jobs would remain or if their salaries wouldn't take a hit. Those in business had no idea what the blizzard would have blown into their lives.
When Lehman went down, panic ran amok from Tirupur's textile hub to the auto parts cluster in Pune and among Rajkot's machine tool makers. While the big producers (of cars and petroleum products, among others) seemed unfazed, most small entrepreneurs had no clue if their businesses were safe. Exporters made frantic calls to their US agents and franchises wanted to know if the expansion plans initiated barely a few months ago were still on track.
In Hyderabad, G Bala Reddy, chairman and managing director of ICSA, a power solutions firm, is still a worried man. Almost half his company's shares are owned by Goldman Sachs, HSBC, CLSA and the government of Singapore. Reddy tells ET he was unsure if the tectonic shifts on Wall Street will not shake up his business. "Until now none of the foreign investors have sold their shares. But we cannot expect to stay untouched by the current situation in the global markets," he tells via telephone.
below is a writeup from today's Economic times ....that's just the tip of the ice burg, so to say... according to some experts this is showing signs of a global recession.. that would mean a longer time for recovery .. Europe , US, UK, Euro zone,New Zealand , Australia , Canada are in crisis... South Africa is on the Verge of recession....
Electricity/ oil shortages, high interest rates, soaring inflation, a slumping housing and vehicle market and lower business and consumer confidence are the indicators...
What it means to us is... invest if you get a good bargain in real estate it will pick up,equities is another good investment , pick the right stock at the right price..(study the market and invest when it is low).... reduce your expenditure as the market is very uncertain...
thats it for now..over & out
here is a small writeup from today's Economic times...
Small companies to face the heat of US meltdown
22 Sep, 2008, 0000 hrs IST,Sachin Dave & Ashish Agashe, ET Bureau
From Economic times
It's been exactly a week since Lehman Brothers went bankrupt, Merrill Lynch got sold and American International Group (AIG) was bailed out by an $85 billion US Fed grant. The unprecedented events that unfolded that manic Monday have completely altered the financial landscape of the world.
Back home, as the Sensex plummeted, the mood turned somber. Assurances by the finance minister notwithstanding, the man on the street looked perplexed. Those with a job weren't sure if their jobs would remain or if their salaries wouldn't take a hit. Those in business had no idea what the blizzard would have blown into their lives.
When Lehman went down, panic ran amok from Tirupur's textile hub to the auto parts cluster in Pune and among Rajkot's machine tool makers. While the big producers (of cars and petroleum products, among others) seemed unfazed, most small entrepreneurs had no clue if their businesses were safe. Exporters made frantic calls to their US agents and franchises wanted to know if the expansion plans initiated barely a few months ago were still on track.
In Hyderabad, G Bala Reddy, chairman and managing director of ICSA, a power solutions firm, is still a worried man. Almost half his company's shares are owned by Goldman Sachs, HSBC, CLSA and the government of Singapore. Reddy tells ET he was unsure if the tectonic shifts on Wall Street will not shake up his business. "Until now none of the foreign investors have sold their shares. But we cannot expect to stay untouched by the current situation in the global markets," he tells via telephone.
Sunday, September 21, 2008
Outsoucing and Technical Skills
The present world of information technology requires you to be completely updated on the technical skills. But before you should know what all what all technical skills you should possess, you must know why these technical skills are important. Learning technical skills are essential not only for your career development but even though it may not directly help in your career, having them as additional skills can boost your career in general. It will help you grow in your career and will no doubt help in income increase too. It is also important to know what all technical skills you should learn since it would be too tedious and virtually difficult to learn all most all technical skills. At the same time, learning all technical skills may not be all that relevant to you. As an entrepreneur even if you learn few technical skills, it may prove to be the greatest asset for you.
You can join the networking communities which will have you the experts in the IT field from whom you can lean a lot. For those who love talking and interacting, this is the best solution.
Also, reading newspapers and magazines related to technology field will have you the latest update. In every newspapers, there is a column or page dedicated to new launches.
Offshore outsourcing:
Why consider offshore outsourcing to India?
Offshore outsourcing has been popular for several years. Countries like India are popular offshore outsourcing locations which offer cost effective solutions. There is a wealth of articles and write ups about the cost advantages of offshore outsourcing with a majority claiming anywhere between 40-50% savings.
However, offshore outsourcing has come under attack recently. There is an outcry against outsourcing by parties in the US and UK because of the loss of jobs to people in these countries. Many have pointed out actual costs and poor quality of service as the hidden truths behind the attractive packaging.
Offshore Outsourcing is not just about cost.
One should understand the need for offshore outsourcing better before making a decision. Cost is definitely one of the main reasons for offshore outsourcing to India, but one should realize that this cost advantage may not be seen immediately. Initial investment in infrastructure, training, and other such preliminaries may make one believe that the cost advantage promised is just the illusory pot of gold on the other side of the rainbow.
"The goal is to eventually use Indian vendors as strategic IT partners, both to augment internal IT development capabilities and to help Cable vision plan, design and implement new projects. We're not looking for just the lowest dollar [cost]. We are looking for vendors that will help us mature technically and from a process standpoint as well",
- priya
You can join the networking communities which will have you the experts in the IT field from whom you can lean a lot. For those who love talking and interacting, this is the best solution.
Also, reading newspapers and magazines related to technology field will have you the latest update. In every newspapers, there is a column or page dedicated to new launches.
Offshore outsourcing:
Why consider offshore outsourcing to India?
Offshore outsourcing has been popular for several years. Countries like India are popular offshore outsourcing locations which offer cost effective solutions. There is a wealth of articles and write ups about the cost advantages of offshore outsourcing with a majority claiming anywhere between 40-50% savings.
However, offshore outsourcing has come under attack recently. There is an outcry against outsourcing by parties in the US and UK because of the loss of jobs to people in these countries. Many have pointed out actual costs and poor quality of service as the hidden truths behind the attractive packaging.
Offshore Outsourcing is not just about cost.
One should understand the need for offshore outsourcing better before making a decision. Cost is definitely one of the main reasons for offshore outsourcing to India, but one should realize that this cost advantage may not be seen immediately. Initial investment in infrastructure, training, and other such preliminaries may make one believe that the cost advantage promised is just the illusory pot of gold on the other side of the rainbow.
"The goal is to eventually use Indian vendors as strategic IT partners, both to augment internal IT development capabilities and to help Cable vision plan, design and implement new projects. We're not looking for just the lowest dollar [cost]. We are looking for vendors that will help us mature technically and from a process standpoint as well",
- priya
Friday, September 19, 2008
Recruitment Strategies.
I do believe that since this forum consists mostly of recruiters, this post will add value to its readers. I have the least recruitment experience in this group. I may not be the most qualified to comment on this, but hear me out. I am speaking from plain experience of working with you all over the past year.
The first thing I noticed almost immediately after joining this trade was the way we communicate with our candidates. There were times I felt I was listening to a news reader. My suggestion, talk to your candidates as if you are addressing a large gathering. Something like your elocution or debate at school. People who do not communicate well and with passion will make very poor sellers. Start with asking if this is a good time to speak and tell him/her gently how you came across his/her profile. Praise him/her about the achievements listed and tell the person that their profile is a hot cake in the market. Do this honestly, if you bluff, you will sound most annoying. Don't believe me? Imagine some one giving you fake compliments on your face.
Once you have gained confidence, then you can go about your assessment process. I am not here to write about the strategies, I am leaving this post with this question and I would like you all to comment by posting your answer to this question. In fact there will be a series of question and as you answer them all you will surely find yourself getting better at recruitment. So the question for the day is -
How can you as a recruiter contribute to the expansion of business in each of your organizations? Remember, it all starts with the sales function. No clients, no business! So what can YOU do about it?
The first thing I noticed almost immediately after joining this trade was the way we communicate with our candidates. There were times I felt I was listening to a news reader. My suggestion, talk to your candidates as if you are addressing a large gathering. Something like your elocution or debate at school. People who do not communicate well and with passion will make very poor sellers. Start with asking if this is a good time to speak and tell him/her gently how you came across his/her profile. Praise him/her about the achievements listed and tell the person that their profile is a hot cake in the market. Do this honestly, if you bluff, you will sound most annoying. Don't believe me? Imagine some one giving you fake compliments on your face.
Once you have gained confidence, then you can go about your assessment process. I am not here to write about the strategies, I am leaving this post with this question and I would like you all to comment by posting your answer to this question. In fact there will be a series of question and as you answer them all you will surely find yourself getting better at recruitment. So the question for the day is -
How can you as a recruiter contribute to the expansion of business in each of your organizations? Remember, it all starts with the sales function. No clients, no business! So what can YOU do about it?
Thursday, September 18, 2008
Current Market!!
Every one knows yesterday Lehman Brothers in US went Bankruptcy
2. Satyam decided to fire 3500 employees officially (unofficially who knows the numbers) in Hyderabad itself they have fired 400 People.
3. MerryLinch was purchased by Bank of America to save them from Bankruptcy
4. Today American International Group (AIG) is begging to save them for Bankruptcy and JP Morgan Chase and Goldman Sachs coming together to save AIG click the link for more information http://sify.com/finance/fullstory.php?id=14759082
5. Hewlett-Packard (HP) has decided to cut 24,600 jobs world wide in next three years as part of its integration with computer services firm Electronic Data Systems why they integrated with EDS? http://sify.com/finance/fullstory.php?id=14759385
2. Satyam decided to fire 3500 employees officially (unofficially who knows the numbers) in Hyderabad itself they have fired 400 People.
3. MerryLinch was purchased by Bank of America to save them from Bankruptcy
4. Today American International Group (AIG) is begging to save them for Bankruptcy and JP Morgan Chase and Goldman Sachs coming together to save AIG click the link for more information http://sify.com/finance/
5. Hewlett-Packard (HP) has decided to cut 24,600 jobs world wide in next three years as part of its integration with computer services firm Electronic Data Systems why they integrated with EDS? http://sify.com/finance/
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