JOBS & CAREERS
 


The DIRECT route to success
Direct selling is a Rs 3,330 crore industry that has provided income opportunity to over 1.8 million persons in India. Worldwide, this industry is estimated to be worth $115 billion. Bill Pinckney writes about the opportunities offered by this industry
Direct Selling is a method of selling products and services, in a face-to-face manner, away from a fixed location, usually through personal explanation or demonstration. More importantly, direct selling offers individuals an opportunity to own their independent business after making a nominal investment. Earlier, it was considered an independent business opportunity to supplement family income. But direct selling has today achieved industry status. A large number of individuals have taken up direct selling on a full-time basis. 

Career Hotline
Think twice
n Preparing for GMAT
n Talk it over
n Physio facts
n Focus on entrance tests

WINNING STRATEGY
Setting a benchmark
There is no such thing as a permanently great company, nor a permanently great industry. But there are permanently great strategic moves.” When Google was launched in 1997 as a search engine, Reliance Communications in 2001, the services they offered were unprecedented. They had come up with business ideas which had never been heard of, and thus had never had a market for the same. But once the search engine caught the imagination of the people and the telecom giant made it possible for the common man to use mobile phones, it created a vast market, and an untapped potential waiting to be captured all the while.

STUDY ABROAD- I
Get your facts right
As students prepare for a fresh intake in universities abroad, R.M.S Atwal puts together a step-by-step guide for their visa application process for some key study destinations

New year resolutions
Jobs on Americans’ minds
Most Americans made work-related New Year’s resolutions this year, be they to try to change jobs or get a raise or promotion at their current workplace, according to a survey released last Friday.

Say no to excuses
Do you make an excuse every time you miss a deadline at workplace? If yes, then you stand doubly harmed. First, you lose your reputation as your fib will be exposed sooner or later. Secondly, by justifying your excuses you bring more negativity to your life and efficiency. Thus the more excuses you make, the more harm you suffer. So if you are in the habit of making an excuse every now and then, it will be better to take remedial steps as soon as possible. Here is how you can root out this dangerous habit forever.

Careercature
Sandeep Joshi

Sir, this is the latest 2011 model cost-effective worker. He is more productive and loyal, and seeks no perks and incentives
Sir, this is the latest 2011 model cost-effective worker. He is more productive and loyal, and seeks no perks and incentives.

Course watch
BSE Training Institute inks MoU with IGNOU
BSE Training Institute Ltd (BTIL) has signed an MoU with Indira Gandhi National Open University (IGNOU) to launch a two-year, full-time MBA course specialising in Financial Markets.

High demand for skilled workers
There is a growing demand for highly-skilled workforce worldwide, including in developing nations like India, where only about 25 per cent of professionals are considered employable in multinational companies, according to a World Economic Forum (WEF) report.

LEGAL PROCESS OUTSOURCING
FUTURE PERFECT
Legal Process Outsourcing is the buzzword among the law aspirants nowadays. If you are planning to pursue law as a career, LPO industry may be the right destination. It provides excellent working opportunity along with global exposure. Strategies like cost minimisation for sustained growth in the current economic scenario have made corporates outsource their highly expansive legal work to countries like India, South Africa and the Philippines. India is considered to be the biggest LPO market in the world.

Gender bias, a reality
Researchers have said that even in today’s times, gender discrimination at workplace is still very much alive and kicking. Men and women in jobs that are generally associated with the other sex are judged more harshly when they make mistakes and are constantly in danger of falling off a “glass cliff” in the workplace, experts said.

Happiness @ work
Gems of ancient wisdom
Avoid selection sans consideration
It is better to take one’s time and choose the right people for the job than selecting a herd in a hurry and then wasting time trying to fit round pegs in square holes. Even after they were bound in friendship, Sugriva checked out Rama’s skills before taking on the might of Vaanara King Vaali. Rama kicked Dundubhi’s skeleton (a demon in the form of a buffalo whom Vaali had killed and had flung him away nine miles) 90 miles away and then pierced seven trees with a single arrow to convince Sugriva.






 

The DIRECT route to success
Direct selling is a Rs 3,330 crore industry that has provided income opportunity to over 1.8 million persons in India. Worldwide, this industry is estimated to be worth $115 billion. Bill Pinckney writes about the opportunities offered by this industry

Direct Selling is a method of selling products and services, in a face-to-face manner, away from a fixed location, usually through personal explanation or demonstration. More importantly, direct selling offers individuals an opportunity to own their independent business after making a nominal investment.

Earlier, it was considered an independent business opportunity to supplement family income. But direct selling has today achieved industry status. A large number of individuals have taken up direct selling on a full-time basis. The option of flexi working hours, attractive economic returns, access to world-class quality products, has led to increased interest in direct selling. It gives one the freedom to be one’s own boss.

Scope

Ernst & Young carried out an independent survey of the direct selling industry in India in 2009, which showed that the Rs 3,330-crore industry was poised to become a Rs 5,328 crore one by 2013. With leading multi-national direct selling companies having full-fledged operations in India and many Indian direct selling companies spreading their presence, the prospects of this industry have improved manifold. Seeing, after all, is believing. And independent reports such as the one released by E&Y, lends tremendous credence to the industry.

Getting in

Direct selling offers career prospects on two counts — independent business opportunity for all adults with no formal educational qualification, and to professionals in terms of a full-time employment with direct selling companies. On both these counts, direct selling offers exciting work opportunity.

This industry offers many ‘added advantages’ — an opportunity to network with people from different walks of life, thereby expanding one’s contacts; an opportunity to develop personality and hone presentation and communication skills.

The entry into the direct selling industry as an independent business owner requires small investment. It is always helpful to know someone who is already in this industry, who in turn would introduce you to the business/company. The initial investment is generally the price of a starter kit, which consists of product samples for self-experience and literature on how to go about the business. The most important requirement to gain entry and be successful in this industry is the desire to make it big fuelled by an equal amount of hard work and effort to get to the top. There are no short cuts to success in direct selling.

For professionals seeking full-time employment with direct selling companies, the functions and qualification requirements are the same as with FMCG companies. Professionally qualified people can look at jobs in areas like marketing, finance, information technology, supply chain management, HR and business development.

Free enterprise

Direct selling promotes free enterprise and over 1.8 million direct sales people spread across the country bear testimony to it. Globally, there are over 54 million direct sellers.

Direct sellers, also known as independent business owners, are the masters of their careers. They set their own target, decide their working hours and then go about achieving their goals. In a sense, they decide how much or how little they will earn. Direct selling companies provide them with all the support required to succeed. At the same time, all business owners are bound by the ‘rules of conduct’ and any violation is dealt as per the provisions of these rules. There is also a ‘Code of Ethics’ that all direct selling companies follow. It is self-regulation on the part of companies.

One of the most important aspects of the direct selling industry is the money back guarantee that it offers. Under this, every newcomer gets 90 days from the date of becoming a direct seller to try it. If the person decides not to continue in the business, then he/she can claim full refund by returning the starter kit to the company. Products are also covered under this guarantee. If a consumer or distributor is not happy with the performance of a product, then also he/she can claim full refund by returning the product within 30 days from the date of the purchase. This guarantee boosts the confidence of the people.

Training

Most direct selling firms offer training programmes to their distributors. In these training programmes, distributors and prospects are imparted training on effective product presentation, its usage and effective product sales. Such programmes train distributors to handle customer queries understand the requirements of the customers and plan business initiative and timelines.

The writer is MD & CEO of Amway India Enterprises

Top

 

Career Hotline
Think twice
Pervin Malhotra

Q. I am in final year M.Sc (Physics). Should I do MBA? Which are the good colleges other than the IIMs?

— Javed Beg

A. I hope you aren’t turning your back on physics somewhat prematurely. Have you explored options open to you in areas of higher research, defence technology, teaching? If you are clear that management is your calling, then the skills you developed while studying physics, particularly the ability to research, evaluate and communicate information, will hold you in good stead in just about any field you may choose to train for — be it management, engineering (aeronautical, automobile, instrumentation, computer science, electronics & communication), information technology, aviation, and even the armed forces.

Believe it or not, pursuing management education (MBA/PGDBM) is NOT the appropriate choice for everyone. And it shouldn’t be either. Your personality, skills and strengths may just be better utilised in other areas – providing you similar success and satisfaction as an MBA would While technically, you are eligible to appear for the entrance exams (CAT/XAT/MAT/ SNAP/NMAT), do question your real motives for an MBA – is it money, status, job prospects etc. If you don’t, you can bet that the admission committee definitely will! A well thought-out answer to “why MBA?” would incorporate your academic background, skills and future career goals.

As for choice of B-schools, the IIMs are certainly worth aiming for as the platform, brand, resources, alumni and peer networks are truly world-class. At the same time other reputed B-Schools that fall in the top 15-20 category (XLRI, FMS, MDI, IIFT, NITIE, SPJAIN, the IITs) offer a comparable business education and platform to launch your career sky high.

Preparing for GMAT

Q. Could you please tell me how to prepare for GMAT? Also where can I get the US government ranking of American B-schools?

— Akhila Sunder

A. The Graduate Management Admission Test (GMAT) is designed to help business schools assess the qualifications and potential of applicants for advanced study in business and management.

To get going, log onto to www.mba.com and click on “Take the GMAT” and scroll down to “Tools to help you prepare” for GMAT test taking strategies. For a list of MBA schools, log onto www.educationusa.state.gov, click on “Find a School” and go to MBA programmes in the left margin under “Graduate.” The search options will generate a long list of B-schools. When you ask for the best management schools, you are basically considering rankings. The US government does not rank universities, hence there is no official source to begin with. However, some of the popular private rankings are those compiled by the US News & World Report or The Princeton Review or BusinessWeek. Make sure you understand the specific methodology and criteria on which the rankings are based (and be particularly wary of rankings that don’t explain the criteria on which they are based). While this could be a good starting point, the ‘best’ B-school for you would be the one that best matches your profile and preferences. You need to prioritise your preferences and be realistic in terms of matching your background with the B-schools you plan to shortlist. Weigh the strength of the B-school in terms of quality, competitiveness, programme design, special features of the programmes offered. Then consider admissions requirements, cost effectiveness, internship opportunities, placement and lastly scholarship possibilities for foreign students.

Talk it over

Q. Our son is an above-average student of Class XII. Recently, he performed poorly in his last two class exams. My husband expressed his disappointment, at which my son reacted in a negative manner and has stopped studying. He has to sit for his Board and other engineering exams in a couple of months and I am really worried.

— Avinash Kaur

A. Any extreme reaction on the part of a parent can make a child react in an adverse manner. The expression of disappointment can frequently lead to either an increase in studies and effort on the part of the child, or it may also lead to a converse reaction, making the child averse to studies. This may, in all likelihood, be a temporary phase, but it’s essential to talk to your child and explain to him the reason for his father’s reaction. Having understood this and the importance of studies, he would certainly bring about a change in his attitude.

Physio facts

Q. l have completed my bachelors of physiotherapy from Guru Nanak Dev University. How I can apply for Masters of Physiotherapy in USA, Canada and Australia. Is it mandatory to have a master’s degree to practice in Canada?

— Jaspreet Walia

A. Opportunities for accredited higher education programmes in Physiotherapy in the US, Australia and Canada can be found on the following websites:

American Physical Therapy Association (APTA): www.apta.org/Education/schoollistings

American Occupational Therapy Association (AOTA): www.aota.org. Australian Physiotherapy Association (APA): http://physiotherapy.asn.au

Canadian Physiotherapy Association (CPA): www.physiotherapy.caThe entry-level education required for physiotherapists across Canada is veering towards a Master’s degree.

Focus on entrance tests

Q. I passed Class XII in 2010. Now I am preparing for engineering entrances and also appearing again for Class XII exams to improve my marks. Can you please suggest me any entrance exams other than IIT JEE, AIEEE, VIT, SRM, VELTECH, BITS, COMEDK, UPTU etc to get admission in a good government college. My financial condition is not very good. So is there any scholarship available for studying engineering or in any other way to support me? I got 60 per cent marks in 12th last year but this year I will surely try to improve substantially.

— Manish Gupta

A. I’m sure you already know that your Class XII board exam marks have no impact on your selection to an engineering college (as long as you have scored aggregate 60 per cent in case of IITJEE and 50 per cent for AIEEE and other exams). So I’m not sure why you are so keen on re-appearing for your Class XII boards again. If your goal is engineering then you will be better of focusing more on the engineering entrance exams than your boards. Better Class XII marks will help in securing admission into a university for a three-year course such as BSc. You have listed out just about every major engineering entrance exam. Unfortunately, admission to a good government engineering college (IITs, NITs, State Engg Colleges) is through either the IITJEE, AIEEE or the State Entrance Exam (COMEDK, MCET, UPTU). As far as the issue of financial support and scholarhips is concerned, rest assured that upon securing admission to a recognised engineering institute you can approach any nationalised bank for a student loan. As per RBI norms, you can avail a loan upto Rs 4 lakh without security or collateral guarantee. For loans of higher amounts collateral security and a third-party guarantee is required. Students belonging to economically weaker sections, with an annual income upper limit of Rs 4.5 lakh per annum can avail of the Education Loan Subsidy Scheme announced by the Ministry of HRD. Several colleges also provide scholarship and/or partial fee waivers for needy meritorious students. But to avail of these you will need to secure admission first. So now put aside all your worries and focus all your energy into your preparations and give it your best shot!

The writer is a noted career expert and director, Career Guidance India (CARING). Please send in your queries with your full name, complete address and academic qualifications to: The Editor, Jobs and Careers, The Tribune, Sector 29, Chandigarh-160030, or at careers @tribunemail.com 

Top

 

WINNING STRATEGY
Setting a benchmark
Deepak Kaistha

There is no such thing as a permanently great company, nor a permanently great industry. But there are permanently great strategic moves.”

When Google was launched in 1997 as a search engine, Reliance Communications in 2001, the services they offered were unprecedented. They had come up with business ideas which had never been heard of, and thus had never had a market for the same. But once the search engine caught the imagination of the people and the telecom giant made it possible for the common man to use mobile phones, it created a vast market, and an untapped potential waiting to be captured all the while.

This is what is called Blue Ocean Strategy (BOS) which was used by these companies. It focuses on not to out-perform the competition in the existing industry, but to create a new market space or a blue ocean, thereby making the competition irrelevant. It is essentially a vast ocean of opportunities, with plenty of space to expand and sail where you want. There often is no competition, and even if there is any, your product is such that it makes the competition irrelevant, because it can’t touch you. Here demand, customers and growth are yours for the taking. There is no benchmark set for you as per the industry rules and you travel along a road and leave behind a trail which others can only follow. Thereby BOS is about navigating your organisation into a vast potential market where it can achieve rapid growth and dramatically increase profits.

Blue Ocean Strategy as we know it is the opposite of the Red Ocean Strategy where industry boundaries are defined and accepted and the competitive rules of the game are known. Companies try to outperform each other in a cutthroat competition with the aim of grabbing a greater share of the existing demand. Prospects for profits and growth are reduced with the market space of red oceans getting crowded. As opposed to this the BOS creates demand in the market space for its products. Some blue oceans are created well beyond the existing industry boundaries (for example Google), whereas most are created from within red oceans by expanding existing industry boundaries (for example Reliance).

Though the term Blue Ocean is an analogy to describe a wide, untapped potential market and seems like a promising idea for businesses, it always entails a risk of the idea being backfired since it is untested waters that the business ventures in. Let’s take the case of Google’s latest innovation Google Wave. The web application software for real-time communication and collaboration was hailed as a new wave (pun not intended) in online and real-time communications. But it backfired for the company, as it didn’t receive as much enthusiasm and support from Google fans as the company would have liked. It resulted in the company dumping the product only recently.

It is not always possible for companies to come up with new ideas to tap potential, untouched markets, and this is where the red ocean strategy is in action. Pepsi and Coke are the two largest players in the soft drink business, where each tries to grab the other’s customer base. It is a classic example of red ocean, where the rules are set and the competition is cut throat. It is about staying a step ahead of your competition, as opposed to making your competition irrelevant in BOS.

How did Apple know exactly when to launch the iPod, when we were all going around showing off our cumbrous CD players, carrying them around with a number of CDs when we were going on a long trip, to listen to a wide range of songs? Apple came up with its mini music player, where you could feed hundreds of songs and which was also easy to carry around. Another example of the BOS would be Facebook, which changed the way the world looked at social networking.

It is not always possible to tap into an untouched market space, and often it is the red ocean way that companies have to follow. But to sustain themselves, companies spend huge amounts in R&D, to plan ahead into the future, by dint of which they can create new ideas and venture into the vast ocean of market space, and making competition irrelevant.

Top

 

STUDY ABROAD- I
Get your facts right

As students prepare for a fresh intake in universities abroad, R.M.S Atwal puts together a step-by-step guide for their visa application process for some key study destinations

United Kingdom

The UK High Commission in New Delhi has introduced some stringent student visa rule changes recently making it difficult for ‘not so genuine’ students to enter the country. Surprisingly, despite all this, the students’ rush to the UK remains unabated. Visas are being issued with/without IELTS requirement for English proficiency. According to Amit Gupta, Director, VG Overseas Education Consultants, Jalandhar, “Since most visa decisions are made on the basis of the information submitted in the visa application form and supporting documents, it is important to complete the form carefully and include all the supporting documents stipulated in the guidance. An applicant needs to submit his application in person at a visa application centre nearest to hos/her city.”

Last year has seen a number of changes to the Tier 4 rules (visa points based system). It is very important that applicants check the latest guidance for any further changes to the student visa route. Students need to clear an objective points-based assessment and meet the country’s immigration rules to qualify for a student visa. It is important for students to read and comply with the current published guidance on Tier 4 visas on the British Home Office website.

Confirmation of Acceptance for Studies (CAS)

All UK education providers (also called sponsors) must be licensed with the UKBA (United Kingdom Border Agency) before they can recruit international students. Students must check the Sponsors’ Register on the UKBA website: www.ukba.homeoffice.gov.uk. Before students apply for their visa, they will need the CAS – an unconditional offer from the sponsor – for which they get points, a proof that they have the necessary funds to pay their course fees and living expenses during their studies. The guidance sets out clearly the evidence they need to provide.

Documentation check

The UKBA conducts thorough document checks. Applicants who submit false documents or information will have their applications refused and face a 10-year ban on travel to the UK. If a student uses deception in his visa application, including submitting forged documents, and fails to disclose previous visa application refusals, his application will be refused. The agency has a very effective document verification process to detect forgery. Cases of fraud are also referred to the Indian law enforcement agencies.

Education provider

A student should make sure that his chosen provider is on the Sponsors’ Register before applying for study visa. He can still apply for a visa if his sponsor has been suspended, but no decision to issue a visa can be made on his application until the status of the sponsor is resolved. A student may withdraw his visa application and re-submit the application with a new sponsor and CAS. However, his visa fee will not be refunded. Do check the sponsors’ register again before leaving for the UK.

In case visa is refused

Visas can be refused, for example, if a student does not meet the maintenance requirements; does not provide supporting documents including originals; his documents are not in the correct format or not translated; and submits forged documents. In the event that a student believes that the wrong decision has been made on the basis of the information he submitted, he may apply for a review of the decision. This is called an administrative review and information about this process will be included in the notice of refusal. A student cannot submit new information at this stage, so it is really important to follow the guidance carefully and provide the specified documents in the correct format while making visa application. He may also make a fresh application, ensuring that he addresses the earlier reasons for refusal.

Students can visit www.ukvisas.gov.uk for further information.

United States

As compared to other countries the admission procedures of US universities, schools, colleges and institutes are highly competitive for international students. The procedure is even more competitive in the top educational institutes.

Universities and colleges have their own selection criteria and decide which student meets those criteria. Most American schools encourage international students to contact them at least one year before they plan to enter that school. So if USA is your target then you must apply to each college and university of your interest separately. The application process for the US universities and colleges, however, is not as difficult as it appears to be. Meritorious and serious students plan it accordingly and go step by step after getting the all-important I-20 (offer letter) from institutions there. Unlike other High Commissions, the US embassy in New Delhi conducts a face-to-face interview for study visa. Since most of students from the Punjab region fear the interview, they think that the US visa is something next to impossible for them. “Contrary to the popular belief that US interview is quite hectic and scary, we have seen some students making it just in 60 seconds by answering two-three simple questions,” says Diamond Sochi, the US study visa immigration expert and Director of Caan Wings, Jalandhar. “The US student visa certainly remains interview intensive wherein the Visa Officer’s job is to assess the student’s merits for a visa and at the same time to gauge his possibility of returning to India after the completion of studies,” says Sodhi. Simple questions are usually asked to understand the student’s academic profile, his preparation for course study, reasons for the selection of a particular course and university, his financial ability and future plans. A student with a serious intent to study in the US would have concrete answers to such simple questions. “Of course, a student’s English proficiency and self-confidence give him an edge to succeed in the interview,” she adds.

Some useful tips

  • No student can have the work permit while in F1 (Student Visa)...they can only work inside the college/university campus.
  • Students should have three good reference letters and Statement of Purpose ready to give impromptu answer to the Visa Officer.
  • While applying send details of your last educational institution (mainly new private university) as US university selection committee will have little idea about the newly formed Indian colleges and universities.
  • A solid financial background. The US universities give very few scholarships. What they give is Edu Aid in the form of Research/Graduate/Teaching assistantship, which is very difficult to get.

(To be concluded)

Top

 

New year resolutions
Jobs on Americans’ minds

Most Americans made work-related New Year’s resolutions this year, be they to try to change jobs or get a raise or promotion at their current workplace, according to a survey released last Friday.

The survey, conducted by jobs websites Monster.com and HotJobs.com, found 98 per cent of Americans polled were looking to make a change in their work situation in 2011.

“Employers have been doing more with a lot less and people are getting fed up,” said Charles Purdy, senior editor of the websites.

“Last year people were buckling down, and hoping the worst wouldn’t happen, but now people are more optimistic about their job prospects,” he said.

Sixty-six per cent of those polled said they were looking for a new job with a new employer, 15 per cent were hoping for a raise or promotion at their current employer and 17 per cent were hoping to start their own business. Two per cent said they were happy with the status quo.

A government report showed US employers hired fewer workers than expected in December and a surprisingly large number of people gave up searching for work, tempering the positive news of a big drop in the unemployment rate.

Forty-two per cent of respondents to the Monster survey said they expected employment conditions to improve in 2011, compared to 33 per cent who expected the jobs situation to worsen and 25 per cent who don’t think it will change much.

Seventy-eight per cent of respondents had a New Year’s resolution related to their work, compared to 68 per cent last year.

The survey comprises an ongoing series of online polls and 3737 people responded to the question about New Year’s resolutions, Purdy said.

He added that the polls reflect only the opinions of people who choose to take part. — Reuters

Top

 

Say no to excuses
D.C.Sharma

Do you make an excuse every time you miss a deadline at workplace? If yes, then you stand doubly harmed. First, you lose your reputation as your fib will be exposed sooner or later. Secondly, by justifying your excuses you bring more negativity to your life and efficiency. Thus the more excuses you make, the more harm you suffer.

So if you are in the habit of making an excuse every now and then, it will be better to take remedial steps as soon as possible. Here is how you can root out this dangerous habit forever.

n The workers who reach their workplace late often make excuses. In case you have got this tendency, better get up early or readjust your schedule to be in time at your workplace. Gandhiji has rightly advised “Early to bed and early to rise, makes one healthy wealthy and wise.” The sooner you follow this advice, the better it will be for your career.

n Check your impulse to make an excuse. With practice, you will become aware of the impulse well in advance and would not let it take a concrete shape. The moment you start doing this, your subconscious will get the signals that you are quitting the habit of making excuses. Everytime you check the impulse, you are firmly routing out the evil of making excuses at workplace.

n “A man is known by the company he keeps,” is a wise saying. When you regularly remain in the company of hard workers, the bad habit of making excuses will be routed automatically and their diligence will rub on you ultimately.

n You must realise that building your reputation is in your own hands. You must become careful about building a good image at your workplace. That way you will automatically stop making excuses as this habit does irreversible damage to one’s reputation. Always remember that your competitors and detractors are just looking for an opportunity to put you down professionally on this count so don’t give them a chance to succeed.

n You must love your job or career. If you take more interest in handling the assignment in hand, you will soon become an expert in handling bigger matters, too. Thus, by being absorbed in doing your best, you will find no time to think of making excuses at all. And when you get praise and applause, there remains no question of making any excuses at all.

n Be prompt in action. Never keep your mind idle. An idle man’s mind is certainly a devil’s workshop. Only idle workers make excuses. The conscientious ones only think of the best output. The busy ones never waste even a single second in idle pursuit of making excuses. For them work alone is worship.

n Imagine and feel like a potential hard worker. Whatever you imagine and believe in your subconscious actually creates in your life. Both psychologists and scientists have discovered that when you imagine and believe that you have achieved something, you activate the same brain areas which you use while having the same in reality. That way you can root out the bad habit of making excuses forever.

Top

 

Course watch
BSE Training Institute inks MoU with IGNOU

BSE Training Institute Ltd (BTIL) has signed an MoU with Indira Gandhi National Open University (IGNOU) to launch a two-year, full-time MBA course specialising in Financial Markets.

BTIL, backed by Bombay Stock Exchange Ltd, is the only educational institute in the country offering a specialised course specifically designed for the study of Financial Markets. The classes will be held at BTIL’s premises in BSE and will commence in May. The course being offered is a full-time degree specially designed to suit the requirements of students planning to make a career in financial markets. “We plan to cover vital concepts related to exchanges which will help our students spearhead the financial industry,” IGNOU Vice- Chancellor V.N. Rajasekharan Pillai said.

“Our MBA in Financial Markets is an experiential learning programme, in which you will learn by interacting with the masters in the industry and participating in events as they happen”, BTIL MD Ambarish Datta said. — PTI

Top

 

High demand for skilled workers

There is a growing demand for highly-skilled workforce worldwide, including in developing nations like India, where only about 25 per cent of professionals are considered employable in multinational companies, according to a World Economic Forum (WEF) report.

Terming human capital as the “engine of economic prosperity”, the WEF has called for high-skilled people to meet the growing talent demand in various sectors including trade and communications in developing countries.

“Skills for high-demand jobs in 2020 must be developed now...All over globe – in developed, newly industrialised, BRIC (Brazil, Russia, India and China) and developing countries — demand is soaring for these professions,” according to the Global Talent Risk report released recently.

The report, prepared by the WEF in association with the Boston Consulting Group, analyses projected talent shortages in 25 countries, including India. It said uneven quality of educational systems in developing countries is one of the reasons for workers not getting necessary training to thrive in the global economy.

“As one example, only 25 per cent of Indian professionals are considered employable by multinationals,” the study noted. As per the report, there would be high demand for professionals from companies in trade, transport and communication in developing nations. Pointing out that global talent risk is growing; the report said there would soon be staggering talent gaps in large parts of the world threatening economic growth. — PTI

Top

 

LEGAL PROCESS OUTSOURCING
FUTURE PERFECT
Anand Sharma, CFO and Head of management
Anand Sharma, CFO and Head of management 
services, CPA Global

Legal Process Outsourcing is the buzzword among the law aspirants nowadays. If you are planning to pursue law as a career, LPO industry may be the right destination. It provides excellent working opportunity along with global exposure. Strategies like cost minimisation for sustained growth in the current economic scenario have made corporates outsource their highly expansive legal work to countries like India, South Africa and the Philippines. India is considered to be the biggest LPO market in the world. Continuous inflow of leading global LPO players into the country has made India a preferred LPO destination.

In an interview with Arupjyoti Gogoi, Anand Sharma, CFO and Head of management services, CPA Global provides an insight into the emerging LPO industry and career opportunities in this field.

Excerpts:

Legal Process Outsourcing (LPO) is considered to be an exciting and emerging career globally. What does LPO entail?

The LPO industry is among the fastest growing industries globally. There is an increasing amount of focus on the legal spent that the corporates make. So, in order to rationalise the money spent on legal aspects, lawyer groups across cooperates and law firms started looking for alternative places where some part of the work could be outsourced while maintaining the same quality. Hence, LPO industry started flourishing all around the world.

Following the same momentum, India emerged as the premier location for LPO industry globally. India produces nearly about 80,000 lawyers from various law colleges every single year. The Indian education system for law studies teaches nearly the similar laws as are followed internationally be it the common or civil laws.

What is the current scenario of LPO industry in the country?

As compared to other industries, the LPO industry is witnessing a high growth rate. Currently the rate of growth of this industry is about 15 to 20 per cent. Legal Process Outsourcing as an industry in India is going to cross $ 1 billion by 2012. But globally the market is very big. For example, the total litigation expenditure in US is $ 260 billion annually. So you can have an idea about the scope for those entering this field.

What are the career opportunities in India?

The LPO industry offers excellent career opportunities to law professionals in India. After having a law degree, one can easily enter into this industry. Sky is the limit for the deserving and dedicated professionals. We recruit our employees via various channels and prominent law colleges in the country and a large share goes to campus recruitment. However, in this field experienced lawyers always have an edge over the freshers.

How do you see the LPO industry in India over the next three years?

I would say LPO is going to be the next mobile telephony business in India. The way mobile telephony business took off and surprised everyone with its high growth, the amount of opportunity available in this market is going to surprise everyone in a positive way and there will be huge amount of opportunities for lawyers in India. Earlier, lawyers had only two career options either to go and work for a corporate house or work in a law firm or maybe establish own practice. I would term the year 2010 as the take off year as this was the year when this industry came on a firm footing. In the next two to three years, we will be able to see the full potential of the industry. But for this, there should be more awareness among the public about this field.

Top

 

Gender bias, a reality

Researchers have said that even in today’s times, gender discrimination at workplace is still very much alive and kicking. Men and women in jobs that are generally associated with the other sex are judged more harshly when they make mistakes and are constantly in danger of falling off a “glass cliff” in the workplace, experts said.

Yale University scientist Dr Victoria Brescoll said, “In the 2008 presidential election, a woman came close to getting a nomination, and an African-American man ended up President of the United States, a job formerly reserved for White men,” reports the Telegraph.

“The reason I got interested is there was so much talk about race and gender barriers being broken, but just getting a job with high status isn’t enough, you have to keep it.

“Any mistakes that they make, even very minor ones, could be magnified and seen as even greater mistakes.” As many as 200 volunteers read a scenario in which either a police chief or a women’s college president made a mistake, sending not enough police officers (or campus security officers) to respond to a protest.

The team found that those who were the non-stereotypical gender were judged more harshly. The same was true in other tests with a female CEO of an aerospace engineering firm and a chief judge.

“There is an effect called the glass cliff. Like the glass ceiling that keeps women from rising higher, the glass cliff is what counter-stereotypical individuals (such as female police chiefs) are in danger of falling from,” said Brescoll.

“You don’t really know, when you’re a woman in a high status leadership role, how long you’re going to hang onto it. You might just fall off at any point. Our study points to one way that this may happen for women in high-powered male roles,” she said.

The study is published in Psychological Science, a journal of the Association for Psychological Science.

— ANI

Top

 

Happiness @ work
Gems of ancient wisdom
Avoid selection sans consideration

It is better to take one’s time and choose the right people for the job than selecting a herd in a hurry and then wasting time trying to fit round pegs in square holes.

Even after they were bound in friendship, Sugriva checked out Rama’s skills before taking on the might of Vaanara King Vaali. Rama kicked Dundubhi’s skeleton (a demon in the form of a buffalo whom Vaali had killed and had flung him away nine miles) 90 miles away and then pierced seven trees with a single arrow to convince Sugriva.

In his mission to counter the Mughal force, Guru Gobind Singh needed to ‘make the sparrow hunt the hawk’. On April 13, 1699, he chose five men — Daya Ram, a Jat from Haryana, Makhan Chand, Himat Chand and Sahib Chand — who had conquered the fear of death and anointed them as Panj Piaras or the Khalsa. Such was his confidence in his selection that he gave more authority to the quintet than the guru.

As the Mahabharata war was a tussle between systems, both sides rejected the offer of Rukmi, King of Bhojakata, to fight on their side. Rukmi wanted to gain personal glory from the war.

For not touching a drop of nectar even while having the jar in his hands, Vishnu gave the prime position of his mount to mighty eagle Garud.

Vishwakarma’s daughter Sanjna sent Chhaya, her shadow, to face her husband Surya’s summer heat and light.

Only after King Vikramaditya chose the winner of a dance contest, which even the gods couldn’t decide, between apsaras Rambha and Urvashi did Indra give him the Simhasan Batisi, the throne with idols of 32 speaking nymphs. After losing many scholars in a debate to Bandhi, King Janak faced a new problem — 12-year-old Ashtavakra stood in front of him asking for permission to challenge Bandhi. Only after the lad had answered Janak’s question after question did he let him face the invincible scholar.

Goddess Durga gave Tenali Rama two cups to choose from. One had the sweet milk of learning and the other sour curds of wealth. After thinking for a while, he quickly gulped down both as ‘one would be useless without the other.’ She-demon Hidimba chose to let Bhima live as ‘eating him would only give her momentary satisfaction, but if he lived, he could give her enduring pleasures as a husband.’ For her prudence, she is worshipped in the Hidimba Devi Temple in Manali.

Make sure that the candidates you select have the right-skills set.

— Sai R. Vaidyanathan

The writer can be contacted at svaidyanathan@tribunemail.com 

Top

 

Top




HOME PAGE