Uday Salunkhe’s student expresses the greatness of Prof. Salunkhe

The various courses in We School is designed for the future leaders who would be wearing various hats. The education imparted to us in the classroom is more of practical education wherein we are given real life case studies and live projects to work on. I have had a lot of exposure to the real business world as well while my interaction with various leaders across stream with whom i have been given an opportunity to interact with at the AIMS conference, Round Tables held in our college, the NHRDN conferences, and also have been lucky enough to attend the sessions of Speak for Smiles where great leaders like Nitin Nohria, Indira Nooyi and Leena Nair have shared their life journey with us.

   Prof. Dr. Uday Salunkhe sir has been a great support from day one. He has never let the students down and has always been there for us to help us have an experiential learning at We School. He makes us do various events like the Outbound session wherein we are suppose to work in groups like one would do in an organization and share the learnings out of the whole exercise. He comes with a lot of experience and passion which drives the students to do the best and perform well in their careers.

 Jensih Kenias

PGDM Batch 1

Uday Salunkhe - An inspiration for the students at Welingakar

My experience at Welingkar has been an enriching one. Not only have I learned a lot but I've also enjoyed every minute of it. I am part of the management council which has allowed me to interact with our director Dr Uday Salunkhe, on a few occasions. My first interaction was during the outbound, where we saw the more casual, fun side of Sir. Sir is an inspiration to all of us. His vision and energy makes us want to work harder and strive to turn each of our dreams to reality.

Raashi Mehra 

PGDM
Trim 3

Uday Salunkhe - Evolution of Corporate Governance in India

In recent years the issue of corporate governance and the design of appropriate governance mechanisms have become important subjects of academic research and policy discourse in both developed and developing countries. The increasing importance of governance mechanisms comes in the wake of major corporate scandals in internationally renowned companies like Enron , Tyco and Worldcom as well as East Asian crisis in the early nineties and Satyam in India, with a large body of empirical and theoretical research highlighting the significant impact that an economy's corporate governance system can have on the profitability and growth of corporations.

Understanding the meaning of corporate governance

Recent corporate scandals have focused attention of corporate governance for all the wrong reasons. There is a need to cut through all the sensational corporate governance failures, like the case of Satyam, to understand what is the meaning of corporate governance. Corporate governance in the Indian context spells out clearly that ethics

and values form the bases of corporate governance, while adherence to the legal framework is the minimum requirement. Confederation of Indian Industries (CII) - Desirable Corporate Governance Code (1998) defines it as "Corporate Governance deals with laws, procedures, practices and implicit rules that determine a company's ability to take informed managerial decisions vis-à-vis its claimants - in particular its shareholders, creditors, customers, the State and employees. There is a global consensus about the objective of 'good' corporate governance: maximizing long-term shareholder value."

The primary purpose of corporate governance norms is to ensure that managers protect the investment of the owners (scores of minority shareholders of the company's stock) and maximize their returns on such investment. The goal of this research paper is to understand the evolution of corporate governance in India, against the backdrop of the history of India's stockmarket, its corporate culture and the government attitude that strongly influenced the way business was conducted.

Corporate governance in India: An overview

Historically Indian companies had no incentive to show higher profits on their books and enhance shareholder value. This was on account of a very high tax structure - both personal/corporate and also wealth tax. The private sector was also denied access to the equity market at fair market valuations due to strict control of the pricing of public issues by the erstwhile Comptroller of Capital Issues. The combination of high taxes and low valuations left no incentive for good corporate governance. The early beginnings of corporate governance was an outcome of therepealing of the Capital Issues (Control) Act, 1947, in 1992 paving the way for market forces in the determination of pricing of issues and allocation of resources for competing uses. Tax rates were reduced from a peak 97 per cent to 56 per cent in 1991 and 30% in 1997. Due to recent imposition of a surcharge and cess, it is almost 34% today....http://blish.in.com/udaysalunkheweschool/post/evolution_ofcorporategove-3909612.html


For more information visit us Uday Salunkhe and Dr. Uday Salunkhe, Director - Welingkar Institute of Management

Uday Salunkhe - Strategies for being a global MBA Player

Global Competitiveness is the tool for success in all spheres, even education, and especially management education. This research paper takes the positive favorable factors aiding the process of making our management educational institutions globally competitive. The route taken is the trend towards Indians making their mark as global citizens, on every field globally.  By identifying specific cases through primary research the paper unfolds the possibility that we can become a global MBA player and that there is scope for Indian management schools to become globally competitive.

The mantra today is globalization be it industry, economics, trade or education. The world over energies is being synergized to become   successful global player in every field. The environment and the challenges in the growing MBA education field with its tremendous growth opportunities are exceptional and unique.

There has been a tremendous growth of management institutes in our society. Every year about 20,000 students pass out of management schools, the demand is very high.

India has over 250 universities, deemed universities, institutes of national importance and over 11000 colleges. This itself makes India’s education system one of the worlds largest. The number of colleges for professional education has gone up from a mere 208 in 1951 to over 2300 in 2001.

                                                                                                                                           

The core areas relevant to this discussion are

1. India’s demand in the foreign markets

2. Current educational scenario

3. Challenges faced by Indian B schools

4. Best practices the world over

As we can judge, the times are exciting as well as turbulent. To be in the education sector as an MBA player, is a path strewn with thorns, with blooming orchards laden with fruit, noticed in the distance. MBA institutes will need strategic leadership and leaders who need to be more than mere academicians.

They need to be leaders of action and global vision to leverage the core competencies of the Indian management ethos and merge it with international flavor.

This article is authored by eminent educationist and visionary  Professor Dr. Uday Salunkhe, Director, Welingkar Institute of Management and Research (WE School), one of the leading B-Schools in India, with campuses in Mumbai & Bangalore


For more information visit us Uday Salunkhe and Dr. Uday Salunkhe, Director - Welingkar Institute of Management

Uday Salunkhe - The Corporate Social Responsibility Index for India

At this point of time there is no authoritative, voluntary, CSR (corporate social responsibility) initiative that is business-led and engages with companies from all sectors, publicly ranking their CSR activity, whilst consolidating information demands made on companies. Thus what is required is a Corporate Social Responsibility Index which would help meet this need in India.

The Index will help improve corporate responsibility by providing a systematic process that compares companies’ management processes and performance with those of others in their sector. It would provide a benchmark for companies who are committed to managing, measuring and reporting their impact on society.

The Corporate Strategy section looks at how the nature of a business’ activities influence its company values, how these tie into strategy and how they are addressed through risk management, development of policies and responsibilities held at a senior level in the company.

The Integration section looks at how companies organize, manage and integrate corporate responsibility throughout the operations. Is it part and parcel of the company culture? Is it integrated into the strategic decision-making processes of the company and linked through into internal governance and risk management systems?

The integration is assessed through the Management section where the processes for managing different stakeholder relationships are reviewed. This section looks at what the key issues are for the business in the Community, Environment, Marketplace and Workplace, the objectives and targets set to manage these issues and how it communicates, implements and monitors its policies, objectives and targets.

Community relates to the interface between business and society that can be both positively and negatively affected by a project, product or investment on a local or global level.

The Environment comprises the world’s ecosystems and natural resources and is affected directly and indirectly by a company’s operation, products and services. Being responsible means safeguarding both the systems and resources for future generations.

Responsibility in the Workplace is the creation of a working environment where personal and employment rights are upheld. Responsibility in the Marketplace is maintaining the highest standards of business practice when developing, purchasing, selling and marketing products and services.

The Performance and Impact section looks at companies’ performance across a range of social and environmental impact areas. The Corporate Responsibility Index would be a strategic management tool to enhance the capacity of businesses to develop measure and communicate best practice in the field of corporate social responsibility. It would do this through benchmarking corporate social responsibility strategy and implementation process.

The Index would be created by the support of leading businesses in the country as well as leading NGO’S who would be committed to continually improve their positive impact on society. Every year more & more successful companies would be invited to participate in the Corporate Responsibility Index by completing an online survey accessible via individual and secure usernames and passwords.

Even though the Corporate Responsibility Index will be a self-assessment exercise a central agency will have to monitor the whole process. This central agency will not be involved directly in the task of rating companies, but will act as the 'trustee' overseeing the integrity of the process.

This article is authored by eminent educationist and visionary  Professor Dr. Uday Salunkhe, Director, Welingkar Institute of Management and Research (WE School), one of the leading B-Schools in India, with campuses in Mumbai & Bangalore. Professor Ms.  Ketna Mehta collaborates with Dr. Uday Salunkhe in this analysis. .

For more information visit us Uday Salunkhe and Dr. Uday Salunkhe, Director - Welingkar Institute of Management

Uday Salunkhe – WTO: Challenges and Opportunities for Indian Agriculture sector

Agriculture is the world’s most important and oldest occupation having history of about 11000 years. It is believed to have started in India about 4500 years ago and today about 1/3 of mother Earths surface (about 11 bn acres) is used for this, providing employment to about 50% of workforce of mankind and in India about 62% of work force is employed in agricultural sector.

Agricultural sector is a backbone of India’s economy as it covers nearly 50% of available land of agricultural activities, provides employment for about 62% of working population of country and contributes about 341% of National GDP. India ranks second largest rice producer, largest milk producer, major country in wheat production, largest cattle and live-stock holder country of the world thanks to its green revolution programme

Agriculture now in the purview of WTO, accounts for nearly 75% of the Indian rural population. The Uruguay Round Agreement (URA) calls for a fair and market oriented agricultural system. Following URA, protection is given by patents or by an effective Sui Generis System.  The agricultural sector and service sector got opened up in the year-2000.

Agriculture contributes 25 per cent to the GDP of the country and is a key sector of the Indian economy, providing food security to the population, major employment opportunities to the rural population and consequently, a large domestic market for manufactured goods. This sector also accounts for 13 per cent of India's exports.

The break-through in the twin sectors of the economy, that is, agriculture and industry can only provide the engine for a sustainable growth momentum.  This is, unfortunately not happening so far.  To attain an average of 7-8 per cent annual growth, the industry will have to contribute at least 15-16 per cent growth, agriculture 4-5 per cent and services around 8-10 per cent growth.

In this paper an attempt has been made to analyze the role of Government in agriculture and critically assess the Agriculture Trade in general.  Export and Import of Agriculture products in particular by focusing on Horticulture boom, the flowers of floriculture and the rise of IT in the Agriculture sector.

 This article is authored by eminent educationist and visionary  Professor Dr. Uday Salunkhe, Director, Welingkar Institute of Management and Research (WE School), one of the leading B-Schools in India, with campuses in Mumbai & Bangalore. Professor Dr.  P.S. Rao collaborates with Dr. Uday Salunkhe on this analysis.

Uday Salunkhe - Dynamic Role of Management in Global Economy

 

We are living in a world of sweeping changes and swift movements. In every developing civilization a period comes when old instincts and habits prove inadequate to altered stimuli, and ancient institutions and moralities crack like hampering shells under the obstinate growth of life. The type of change which has been witnessed in the realm of business during the past two centuries since the dawn of the Industrial Revolution era in the West is of such a fundamental character that it has materially altered the entire fabric of man’s way of life. While the Industrial Revolution, thus, has had its decisive impact on the environment, the latter too has reacted in turn by having its own influence felt on business. Recent times have witnessed a significant intensification of this two-way process. From the point of view of business, it can be safely stated that the most serious problem that business everywhere faces today concerns the challenge of this rapidly changing environment. An attempt is made in this paper to critically examine the dynamic role of management in. While business is the engine of growth for any country, Management is the key driver for economic growth .The concept of global economy has now become a reality. The Indian economy is passing through the critical phases of globalization and liberalization. We are facing tremendous competition from MNCs.

Many of the Indian companies have accepted the challenges and started adapting themselves to the change. Hence, it becomes necessary for them to bring the required changes in the functioning of their organizations. At the same time, the role of the management has been changing with the time and level of organizational growth and expansions.

Business growth and business expansion in different parts of the world will increasingly not be based on mergers and acquisitions or even on starting new, wholly owned businesses there. They will increasingly have to be based on alliances, partnerships, joint ventures and all kinds of relations with organizations located in other political jurisdictions.

This is an extract of a detailed insight into the ‘Dynamic role of management on global economy’ authored by eminent educationist and visionary Professor Dr. Uday Salunkhe, Director, Welingkar Institute of Management and Research (WE School), one of the leading B-Schools in India, with campuses in Mumbai & Bangalore. Professor Dr. P.S. Rao collaborates with Dr. Uday Salunkhe on this analysis.


For more information visit us Uday Salunkhe and Dr. Uday Salunkhe, Director - Welingkar Institute of Management