Editor's Note

SMART RESOURCE ORCHESTRATION STRATEGIES OF INDIAN FIRMS IN STRETCHING THEIR FRONTIERS OF BUSINESSES
The dawn of the new century has brought India to the economic forefront in the global economy, with an increased awareness of the opportunity that India presents to the rest of the world. India is no longer a socialist democracy and a closed economy of the pre-liberalization days. The Indian economy has been growing at a frenetic pace of over 7% in this new century, second only to China. The largest democracy in the world, with a population of over one billion that is predominantly resource-frugal in outlook with a value-conscious mindset and the largest English speaking population outside of the Western hemisphere, India is an attractive destination for business and leisure. People all over the world are curious to know more about India and its growth story. On one hand, indigenous firms like Infosys, TCS and Wipro have made a dent in the global IT and Software Services Industry. On the other hand, firms like Mahindra & Mahindra in the global tractor business, Biocon in the transnational biopharmaceutical sector, Suzlon in the international energy business have been taking India to pinnacles of glorious achievements in the global competitive landscape. These native firms have been taking India much beyond being a key hub or offshore destination for software and IT services. The big successes in the Indian software and BPO sectors at the international level have instilled confidence in business leaders and managers in other industries that they too can excel on the world stage. Some firms such as Reliance Industries are already world leaders. Reliance is the world's largest producer of polyester fiber and yarn, one of the top 10 producers of chemical components such as paraxylene, polypropylene, and purified terepthalic acid. Several other Indian manufacturing firms, in their aspiration to become worldwide leaders in their industries, are taking the acquisition route. Tata Steel's $12 billion acquisition of Anglo-Dutch steelmaker Corus (which catapulted it to becoming the world's fifth-biggest steel producer); Hindalco's all-cash $6 billion purchase of Canadian Novelis (whereby it emerged as the world's largest aluminium rolling company); Tata Motors' $2.3 billion acquisition of the Jaguar and Land Rover brands from Ford Motors; Mittal Steels' acquisition of Arcelor to become the biggest worldwide producer of steel; Ranbaxy's acquisition of Ethimed in Belgium, Terapia in Romania, and the unbranded generic business of Allen SpA of Glaxo Smith Kline in Italy.-these are but a few examples of Indian firms making rapid strides in the international business landscape by way of well-timed and well-calibrated strategic business acquisitions. It is no surprise that when the Boston Consulting Group (BCG) published the recent list of top 100 emerging multinationals from the rapidly developing economies of Argentina, BraZil, -Chile, China, Egypt, Hungary, India, Indonesia, Malaysia, Mexico, Poland, Russia, Thailand, and Turkey, India-with 20 Indian companies on the list-was second only to China. These firms are creating exciting new innovations for the world. Indian firms like Tata Motors, Godrej & Boyce and TCS have already taken recourse to new blue ocean strategic initiatives in the form of the world's most affordable car 'Nano', a poor villager's cooling solution 'Chotukool' and 'Swach', a low-cost water filter for the impoverished respectively. The seemingly simple and semi-literate Dabbahwallahs (Tiffen Men) of Mumbai have showcased their splendid services to the extent of world-class 'six sigma' quality levels. Healthcare organizations like Narayana Hrudayalaya have been augmenting medical tourism prospects from all over the world to India by virtue of their compelling value propositions entailing globally best quality standards at world's lowest costs. Other firms like Aravind Eyecare, Su-Kam, Shantha Biotech, Suzlon Energy, CavinKare, lTC (International Business Division), (Gujarat) Ambuja Cements (world's cheapest producer) and Spring Hospitals have been dramatically changing the indigenous or/ and international competitive landscape by constantly challenging the infrastructural, institutional, technological and regulatory barriers/ deficiencies that tend to hamstring many a business. There are other manufacturing organizations like Bharat Forge and Titan Industries that have set new standards of operational excellence in the international arena. They have adopted a wide variety of out-of-the-box business strategies of resource orchestration in the form of a judicious blend of process and business model innovations in steering and expanding their businesses successfully towards reaching out to new markets. Native grassroots innovations like amphibious bicycle and mobile-operated switch point out the humongous innovative potential present in the illiterate/ semi-literate villagers. Though many such indigenous innovations do have some scale-up and patent-related problems, few NGOs like Srishti

Foundation, Honeybee Network and GIAN (Grassroots Innovation Augmentation Network) with due support from the National Innovation Foundation of the State are slowly gearing up to undertake this task on a larger scale and bring many of them to commercial fruition in the days ahead. Even the MNCs like Procter & Gamble and PepsiCo are embracing the concept ofIndian Jugaad in their innovation processes as d critical complement to their existing units/ laboratories of innovation. Haier's recycling of conventional washing machines from washing clothes to washing and peeling potatos, churning yak milk into butter and detergent-less washing machines and micro-washing machines to cater to the needs of the BOP markets speaks volumes for its embrasure of the Jugaad concept in its product design and development activities. EMRI, an Indian business group has woven together the latest telecommunication, computing, medical, and transportation technologies to provide affordable medical emergency services in tribal, rural, and urban areas in a spirit of resource complementation. Rural branches of big banks like State Bank of India are embracing the resource conservation practices embedded in emerging technologies like those of Cloud Computing. Novel Community Business Models such as Pay-Per-Use Model (e.g., Community Water Filtration Plants), No-Frills Model (e.g., LifeSpring Hospitals), ParaSkilling Model (e.g., Gyan Shala), Shared Channels Model (e.g., Project Shakti of HUL, ITC e-Choupal), Contract Production Model (e.g., Calypso Foods), Deep Procurement Model (e.g., Reliance Fresh, AMUL) and Demand-led Training Model (e.g., TeamLease Services) that suit the idiosyncratic requirements of the BOP markets like India highlight the truth in the proverb 'Where there is a will, there is a way'. And all these have been proven to be commercially successful. Though the per-customer margins are low in many of these markets, the huge volumes make up for these lower margins per unit. It is with this intention that the strategy concept of "More for Less for More" for emerging economies has come into picture. As a matter of fact, even the rich consumers of the west are slowly growing more and more value-conscious and as a result, we see the 'reverse innovation' phenomenon gaining ground in the established markets of the west. In a way, worldwide, regardless of the nature of the economies, these strategic principles of resource leverage are becoming inevitable and indispensable for firms operating in any of the economies, whether established or emerging. With almost 40% of the world's population living in China and India, these economies are poised to emerge as central players in creating global networks of innovation in coming years, as they enjoy certain key advantages on the dual fronts of demand and supply. On the demand side, these countries are swiftly becoming the important markets in the world for a wide range of products and services. On the supply side, they have already become the most important source for technical and scientific talent. Several renowned MNCs like General Electric and Bosch have set up their research laboratories in India towards leveraging the native talent and arriving at a better fit with the emerging markets like India w)1ere technological leapfrogging is quite common with various boundary-spanning technologies in conjunction with frugal business models offer a quantum leap in the customer value proposition in the form of disruptive innovations that are good enough for the price-sensitive masses. Indeed, emerging economies like India that are large in total size though small in per capita income require idiosyncratic product/ service solutions coupled with novel business models that match these mega-markets comprising microconsumers. The unrelenting urge of emerging economies like India to continuously adopt integrated resource leverage often because of the resource constraints and infrastructural lapses and lacunae faced by them is driving the firms, both native and global, to come to grips with the ground realities in these emerging markets slowly and gradually influencing the western consumers in sensitizing them towards becoming value-conscious in their purchase decisions. Western firms are being forced by the firms (and consumers) from these emerging economies to embrace some of the crucial principles of resource leverage lest they should be supplanted by smart firms from these value-sensitive economies.

Dr. S. Balasubrahmanyam
JIM Kozhilwde

Editorial

Thought Power - 1
Human history is replete with umpteen real-time examples of conscious / unconscious manipulation of others thoughts for their better / worse performance. The benevolent (or malevolent) impact of the Hawthorne Effect (better performance of employees because of managerial attention positively influencing their motivational thoughts) in organizations; the Pygmalion Effect (better / worse performance of students because of the encouraging / discouraging behavior of their teachers positively / negatively influencing the students thoughts) particularly during schooling; and sledging as a mindgame in proactively dampening the spirits of the rival players in cricket all these point to tinkering with others emotional thoughts towards their better / worse performance. When such is the impact of manipulation of others thoughts on their performance, one can easily imagine the impact of doing so with ones own thoughts for ones own excellence. Right from the simple Placebo Effect (and spontaneous remission in medicine) through advanced Quantum Healing (Deepak Chopra) and Thought-Massaging (Rhonda Byrne) to Thought Culture & Transcendence (Swami Sivananda), the substantial influence of thoughts on our well-being, success and manifestation of many a desire of ours can be seen and felt, with due observation and experimentation over time. Indeed, building castles in the air is an indispensable precedent to building castles on the ground, no matter how paradoxical it might look on the surface. We can see this in the form of virtual simulation of hundreds and thousands of prototypes much before stereolithography and actual production / manufacturing and this is quite common in these modern times. Creative visualization (e.g., Shakti Gawain, shamans and hypnotists) and its benefits are gradually noticed by the world. World-class Physicist-Philosophers like Prof. Fritof Capra successfully bring out the thin line of distinction between physics and metaphysics by dint of their apt, apposite and appropriate scholarly discourses. Some saints explain as to how breath-mastery and death-mastery are intertwined, while some others bring out the causal linkages between thought-mastery and life-mastery. All these do not discount the indispensable action(s) that should follow the respective thoughts. While actions are indispensable for success in any endeavour, aligned thoughts do act as catalytic triggers that buttress and bolster our inner convictions and provide intense momentum to our actions with due support from like-minded souls. Rhonda Byrne takes this argument further and says that thoughts are magnetic and have a frequency and that our bodies are human electromagnetic towers transmitting thoughts thereby attracting the like-minded frequencies coming together for a common cause. Linda Goodman dwells at length on programming and deprogramming of our minds towards age reversals and physical immortality as well. Swami Sivananda talks in terms of our brains as antennae in the seemingly occult domains of telepathy, intuition, clairvoyance, clairaudience and other allied ostensibly esoteric arenas. We often judge some of our own (or others) ideas as infeasible or day-dreams or pipe-dreams without second thought, often in the name of practicality. A former CEO of an MNC once said that individuals would not need computers and this drop error costed the firm a lifetime opportunity. What might look impossible or improbable today may one day become a reality. The extended list of novel uses of a washing machine to lassi-making, vegetable-washing, potato-peeling and other such smart jugaads clearly point out the immense latent potential of virtually every resource. The blue ocean strategy of Callaway Golf (through its Big Bertha) in enticing and embracing amateur golf-players who had been nonconsumers for want of decent hit-rates is a case in the point. There is no limit to human imagination while some myopic, traditional experts brush many such seemingly crazy yet immensely creative ideas as impractical / impossible. Where there is a will, there is a way might be an old saying; but its truth remains intact even today. Indeed, imagination is more important than knowledge (Einstein) and many a time offbeat approaches result in upbeat results, whether it is science or business or any other human endeavor. Thousands of grassroots innovations such as the amphibious bicycle and the mobileoperated switch by illiterate / semi-literate villagers speak volumes for this cordial will power taking precedence over the so-called brainy / intellectual merit. No wonder, there is a quote which says Impossible is the first word found in the dictionary of fools. Indeed, often the self-imposed cognitive limitations restrict our real-time achievements. Expansive thought horizons, uninhibited urge to achieve missions to mitigate human suffering, or unrelenting determination to arrive at a solution for a turbulent problem or unflinching resolve to alleviate and ameliorate the lives of the destitute and the deprived or unswerving dedication to undertake some value-creating activity for greater good can galvanize and unleash the immense latent energy towards achieving the mission of any human heart Dr. S. Balasubrahmanyam

Globalizing Indian Thought

March 2013 | Vol. 7 (1)

Editorial Board
Editor Prof. Deepa S Editorial Advisors Prof. G. Anand Prof. Reena Kohli Prof. S. Balasubrahmanyam Prof. Surya Prakash Pati Dr. M. G. Sreekumar Communication Mr. Ramachandran N Student Editor Amartya Sen - PGP 15 Content Nibedita Chakma - PGP 15 Sukriti Jain - PGP 15 Ankit Garg - PGP 16 Srishti Tyagi - PGP 16 Yogyata Thareja - PGP 16

Contact Prof. Deepa S Phone: +91 495 2809443 email: iimknews@iimk.ac.in deepa@iimk.ac.in

CONTENTS
Republic Day Celebrations 2 Social Conclave on Waste Management 2 Pulse Polio Immunization Campaign 2 Swiss Consul General for South India visits IIMK Satellite Campus, Kochi 4 15th Convocation at IIMK 5 Indian Business Heritage Lecture Series 6 Inauguration of National Museum of Indian Business History 7 IIMK HR Summit 2013 8 Panel Discussion at IIMK 9 US - India Educational Foundation (USIEF) visits IIMK Satellite Campus, Kochi 10 Faculty Development Programme on Blue Ocean Strategy 11 The Rural Man Visits IIMK ECHOES at IIMK NOSTALGIA 2013 Interview With Dr. Paritosh Basu, Group Controller, Essar Group SSG NGO Workshop Blanket distribution for homeless in Delhi Calicut Mini - Marathon - 2013 IIMK Book Donation Scheme Faculty Publication Eighth Annual Welfare Day - February 09, 2013 12 12 13 14 17 17 18 18 19 20

IIMK News

March 2013

Globalizing Indian Thought

June 2013 | Vol. 7 (2)

Editorial Board
Editor Prof. Deepa S Editorial Advisors Prof. G. Anand Prof. Reena Kohli Prof. S. Balasubrahmanyam Prof. Surya Prakash Pati Dr. M. G. Sreekumar Communication Mr. Ramachandran N Student Editorial Team Ankit Garg - PGP 16 Srishti Tyagi - PGP 16 Yogyata Thareja - PGP 16

Contact Prof. Deepa S Phone: +91 495 2809443 email: iimknews@iimk.ac.in deepa@iimk.ac.in

Thought Power - 2 On one hand, we have Thought is impossible without words, a famous quote from a renowned etymologist of the yester-decades. On the other hand, ancient scriptures contend that World is impossible without thoughts and attribute pivotal importance to the quality, focus, duration and intensity of our thoughts and their impact on our daily lives and careers. No wonder, Rhonda Byrne in her eclectic work entitled The Secret highlights the paramount importance of thoughtmassaging in shaping our lives and sculpting our careers. It is amazing to see the striking contrast between the plausible literary perspective and the seemingly impossible philosophical perspective when seen from a mundane lens. Few inscriptions in the campus (Buddha: Its all in the mind. You become what you think; Swami Vivekananda: We are what our thoughts have made us) succinctly convey the message. Indeed, as we sow our thought seeds, so shall we reap our harvest of fruits in real time and space. Creative, consistent and coherent visualization coupled with persistent actions in alignment is the key to ones full-fledged success. Several research studies on Neuro-Linguistic Programming (NLP) conducted on thousands of individuals across the globe over the past few decades corroborate the key role of auto-hypnosis or thought power in ones all-round success. If one cannot dream of something, one can never achieve it. This is akin to saying that if one cannot simulate something, one can never make / manufacture it. In a similar vein, Sandra Rogers asserts that failure occurs when thoughts of indecision, doubt, and dread predominate; and that human capabilities are directly proportional to our inner beliefs and convictions (Internal Locus of Control). In this context, it is worth noting a clarion call given by some saints: Change your thoughts and change your destiny. In the domain of spirituality, Sandra Rogers contends that (day-) dreaming is indispensable for any desire to manifest in this world. She goes to the extent of saying that even what we call as luck, fate or destiny has a cause which begins in our thoughts; after all, life is a series of causes and effects. Many Physicist-Philosophers, astro-scientific philosophers and spiritual gurus contend that each one of us vibrate at different individual electromagnetic frequencies of angstrom units per second at different points of time in accordance with our moods, the nature / quality of the food we take, the hygiene we maintain, the music we listen to, the colours we see, the company we are in, the books we read, the movies we watch, the thoughts we mull over and the actions we take. Just as satvik, rajasik and tamasik foods influence human behavior and performance, feeding and mulling over satvik, rajasik and tamasik thoughts over time do shape our personalities, Saints say. In the context of spiritual pabulum, Sandra Rogers avers that the thoughts one feeds ones subconscious affect ones spiritual body the way the food one eats affects ones physical body. Our ancient scriptures say that YathBhavam ThathBhavathi implying the indispensability of filling our minds with pleasant thoughts if we want a pleasant life. Consistent and persistent Think-Feel-Act paradigm propounded by ancient seers could be a holistic (physical, mental, emotional and spiritual) solution to realize our personal, professional and other aspirational goals. The human history and the evolutionary nature of science have been proving time and again that many an ostensibly esoteric noumenon of the yester-decades or yester-centuries often turn out to be objectively exoteric phenomena in the subsequent decades or centuries (e.g., heliocentric Vs geocentric models of our Solar system). Thought-massaging is one such subliminally causal factor that is instrumental in realizing our dreams. In spiritual literature, every human being is treated as a mini co-creator (by virtue of ones dominant thoughts and persistent actions consciously / unconsciously) with the Almighty as the mega-master creator. This concept of cocreation in todays networked world, though in a mundane sense, has been embraced by contemporary MNCs with futuristic outlook like Proctor & Gamble in their innovation initiatives towards developing the next generation products and services. Philosophers like Osho say that names like Krishna, Christ and Einstein are not proper nouns but common nouns similar to engineer, doctor, lawyer or architect. Anyone can become an engineer, a doctor or an architect. It is just that one has to awaken the appropriate inner qualities, hone them and unleash the doctor or the engineer from within. It is with such an intention that Osho calls every human being as a sleeping Buddha, a dormant Einstein, a latent Krishna and so on. It is quite possible that he was referring to Advaitha (non-duality) concept in all these examples. Taking cue from all these eclectic snippets of all-round wisdom, individuals (and organizations) can optimize their performance and reach the pinnacles of glorious achievements by striking a blend of nourishing food intake; invigorating, coherent and consistent positive thoughts (Strategic Indent); creative and meticulous visualization (inspiring day-dreams); persistent actions in alignment; and scrupulous adherence to cosmic laws of success propounded / disseminated by various spiritual masters. Dr. S. Balasubrahmanyam

Editorial

CONTENTS
IIMK Signs MoU with Plymouth University Campus Green Initiative IIMK PGP 17 Induction Programme IIMK Kochi Satellite Campus Inducts First batch of Executive Post Graduate Programme (EPGP) Students Leadership Workshop for Top Management of Nationalized Banks 2 2 4 Strategic Management Forum (SMF) at IIMK New Faculty Members at IIMK Valedictory Ceremony of Executive Education Programmes-2013 Team Bhook Lagi Sangam 2013 Faculty Publication CREST Management Development Programmes IIMK News June 2013 3 7 9 10 11 12 13 15 18

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