Monday, September 15, 2014

Article

Rendezvous with a Mighty Heart

It’s not just Angelina Jolie who has a mighty heart. Meet the new face of gender diversity. It is not very often that you come across a woman heading an automobile giant. In an industry that is primarily known for hulk and tough situations, Mary Barra has begged to differ. She didn't just break the glass ceiling, she drove a truck through it when she took over as global CEO of General Motors in January 2014, Unsurprisingly, the media went berserk over the electrical engineer and Stanford MBA, who joined GM as an intern in 1980 (following her father into the company) and has never worked anywhere else.

The going has been far from smooth. She found herself appearing before the US Congress in April to answer for faulty ignition switches linked to 13 deaths - a problem that led to the recall of millions of vehicles. Barra's contrite apology was widely appreciated but she remains aware that she has a lot to do if she has to deliver on her avowed promise of bringing about a "new GM" and regaining customer trust.
 

The Road in India and Potholes
GM has had its share of problems here too. It is yet to make a profit despite being in the country for almost two decades, and has faced allegations of corporate fraud over issues related to the recall of multi-purpose vehicle Tavera. Still, the first question that Barra is inevitably asked is about being a trendsetter and whether this heralds a new trend of women in corner rooms.

Saturday, September 13, 2014

Thought of the Day


Foreign Trade News

China President Xi's India Visit: Revival of 4,000-year-old maritime silk route is high on agenda

FUJIAN: Revival of the over 4,000-year-old maritime silk route is high on Xi Jinping government's agenda as it tries to enhance trade and business with countries along the sea route in Southeast Asia and South Asia, including India 

During his summit meeting with Prime Minister Narendra Modi next week in Delhi, Xi is likely to discuss how India will be a key country in this Chinese strategy for exports both via land and maritime silk routes. Fujian will play a significant part in the grand strategy, sources in Fujian provincial government told a select group of reporters, days ahead of Xi's visit. Sources said firms from Fujian-based enterprises could also be part of landmark industrial parks that China is planning in Gujarat and Maharashtra. Announcement for these parks will be made during Xi's trip.

It is not without any reason that Fujian will be the starting point of maritime silk route. It was the starting point of the ancient maritime silk route.

News

Barely out of school, teens turn tech entrepreneurs 

BANGALORE: Call them India's Restless Teenage Inc. Some are still in high school, some barely out of it, and they are into fascinating ventures — a transaction platform for bitcoins, applications for Google Glass, and more. They are even mentoring older entrepreneurs on technology and business. 

Take Kshitij Kumar, 18, who has just finished class 12 from Khaitan Public School in Delhi, and is heading to the University of Illinois for a degree in business and computer science. He started a magic tricks tutorial portal called Horizonmagic.com when he was 10. Four years ago, he started a software firm called Blix that created products, including Snappy, that allows users to covert pictures into any format, and Mathomatic, a free math problem solving tool. 
Now he's working on developing an app called Getcaption.io for Google Glass. "If you are talking to someone whose language you do not understand, the app will show you, on the glass, the translation of what is being said in a language that you understand - like subtitles in a movie," Kumar says. It's still work in progress, and currently offers translated subtitles only in English. The app can also take pictures of, say, each of three people in a conversation, and lay out the entire conversation . in a Whatsapp-like format. 

Friday, September 12, 2014

News

Wipro pumps in funds to grow in-house startups 

Even as Rishad Premji spearheads Wipro's $100-million corporate venture arm that invests in startups, the central strategy office under him also functions like an in-house venture capitalist that fund ideas from within the company. 
The strategy office runs what it calls the H2H3 (Horizon 2, Horizon 3) investment Program to nurture ideas coming from various business units that have the potential to scale up over a two- or three-year timeframe and generate substantial revenues. 

The move is an encouragement for employees who think up such ideas, as also potentially a booster for the company given the need to differentiate itself from rivals. 
Recently, the program funded the idea of a commodities trading and risk management (CTRM) platform that has the goal to grow to a $50-million practice in three years. CTRM is expected to drive growth across the banking and energy and utilities verticals. Bangalore startup Eka Software has a very successful commodities platform. 

Other H2H3-funded practices are in the areas of mobility, cloud and analytics. Wipro said it could not comment on the program. The H2H3 program identifies ideas in solution creation, white spaces, product-led services, new lines of business and new geographic penetration. 

Thought of the Day


HR News

Private bank chiefs to stay in office till age of 70


The Reserve Bank has ended the suspense on the age limit for private sector bank chief executives, bringing relief for investors in HDFC Bank and IndusInd Bank, who might have been worried about the fate of their rock star chiefs who have delivered enormous returns in the past few years. Full-time directors of private banks can now continue up to the age of 70, in line with the latest Companies Act.
The bank boards will, however, retain the right to set a lower retirement age for officials, said RBI on Tuesday. One consequence of RBI’s clarification might be that second-rung leaders in some of these banks could begin to look for greener pastures as their leadership opportunities will diminish, with many current CEOs likely to continue at least for another five years.
“It has been decided that the upper age limit for MD & CEO and other WTDs (whole-time directors) of banks in the private sector should be 70 years, i.e.- beyond which nobody should continue in the post,” said a notification from RBI.
“Within the overall limit of 70 years, individual bank’s boards are free to prescribe a lower retirement age for the WTDs, including the MD & CEO, as an internal policy.” IndusInd and HDFC Bank will be the immediate beneficiaries with the terms of Aditya Puri at HDFC Bank, and Romesh Sobti’s at IndusInd coming to an end next year. Puri is 64, and Sobti is 65. Neither Puri nor Sobti could be reached for comments.

HR News

After Rajasthan, Madhya Pradesh to tweak labour laws

 Madhya Pradesh will soon amend its labour laws and rationalise land management rules to make them more investor friendly, becoming the second BJP-ruled state after Rajasthan that plans to do so.
"We will relax and tweak some labour laws and rules pertaining to land management to prepare a more conducive atmosphere for investors in the state. While the union government has already acknowledged our labour laws to be the best in the country, we would like to make them more appealing to the investors," said Yashodhara Raje Scindia, Madhya Pradesh's industries minister.
These changes are likely to be announced following the state's high profile 'Global Investment Summit', which is scheduled to be held in Indore next month. Scindia added that MP will also announce a policy for promoting defence manufacturing, a first for any state, at the event.

In early June, the Rajasthan state cabinet cleared 20 amendments to four labour laws - Industrial Disputes Act, Factories Act, Contract Labour (Regulation and Abolition) Act and Apprenticeship Act — in order to make it easy to hire and fire workers, close and open industries, among other things.

Thursday, September 11, 2014

Thought of the Day


HR News

Wintek Corp factory workers strike in China over mooncakes,benefits

About 16,000 workers at two subsidiaries of Taiwanese touch-screen maker Wintek Corp went on strike over holiday benefits this week in southern China in one of the biggest work stoppages this year, the Xinhua news agency reported.

A Wintek executive said the strikes started on Tuesday at subsidiary Dongguan Masstop Liquid Crystal Display Co Ltd and spread on Wednesday to Wintek (China) Technology Ltd. Each factory employs about 8,000 workers, said the executive who declined to be identified as he was not authorised to speak on behalf of the company.

The strikes ended on Wednesday and Thursday, respectively, and the company did not expect production to be affected, the executive added. He did not say how many workers had participated.
Wintek is a long-time supplier to Apple Inc, but it was not immediately clear who the factories' main customers were. A Wintek Corp facility in the eastern city of Suzhou, near Shanghai, is on the iPhone and iPad maker's list of 2014 suppliers, but not the factories in Dongguan. An Apple spokesman in California said the company generally did not comment on supplier relationships beyond the list.