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COVER FEATURE
"Our objective is to build world-class buildings, while providing valuable contributions to the economies of the communities we serve."
-- Donald L Skip Conover
Bhavana Developers Pvt. Ltd. is committed to being the leading real estate developer in Hyderabad, India, by its focus on: Professionalism of its staff; experienced executives; world-class technology platform providing executives and clients with 7/24/365 status reporting capability on all projects; comprehensive financial system ready to support complex multi-year projects; creative architects; innovative projects focusing on all client needs, including the need to `be Green'; and committed project teams and contractors. During 2008, Bhavana is presenting its revolutionary new projects, which complement developments surrounding the opening of the New Hyderabad International Airport.
© 2008 IUP . All Rights Reserved
CORPORATE GOVERNANCE
Sustainable corporate governance in Fiji Testing new mechanisms
-- Prof. Arvind Patel and Veer Singh Varma
Globalization of audit committees as a common mechanism of corporate governance is one of the most significant developments during the last two decades in several countries. The recent saga of corporate failures and the dramatic collapse of Enron, Worldcom, Cendant and HIH on the international arena and National Bank of Fiji locally (Fiji Islands), provides continuing evidence of failures of corporate governance at all levels including senior management, boards of directors, the audit committee, external auditors, financial regulators and the accounting and auditing profession. Probably, at present, this is the hottest issue and it provides a watershed opportunity for this article to contribute to our understanding the value and potential of audit committees as a sustainable corporate governance mechanism by bringing together arguments associated with their appointment and reporting structure in the context of the agency theory approach.
© 2008 IUP . All Rights Reserved
MORTGAGE BLUES
US subprime crisis and corporate governance
-- Prof. Prafulla K Dash
Every organization knows that good governance leads to performance excellence in the long run. Why then, even reputed organizations are suddenly caught in the vortex of market crash and sectoral slump, or by themselves, indulge in corporate malfeasances? Each of these organizations might have foreseen the risk in the subprime investing phenomenon. However, the frailties of some facets of human nature tend to overtake prudence. Corporate governance, therefore, should involve a multi-layered checks-and-balances system. Solutions should be found out and incorporated in the governance program of each organization, more so, when, the time period between major crises now has come down phenomenally.
© 2008 IUP . All Rights Reserved
MANAGEMENT
Participative managers : Antidote to employee demotivation
-- Dr. Rashmi Joshi
It is widely accepted that a motivated workforce is the dominant contributor to the well-being of any organization. Among the various things that motivate employees are recognition, new challenges, opportunity to learn and develop new skills, high degree of involvement in the organization and setting of challenging yet attainable goals. However, in practice, some or all of the above are often missing in the workplace due to which demotivation rapidly sets in among employees. In this context, this article takes a look at various factors that are responsible for demotivation of employees and how it affects not only the employees but also teams and, ultimately, the business. Some of the motivational techniques which can be adopted by managers are also highlighted.
© 2008 IUP . All Rights Reserved
ECONOMIC DEVELOPMENT
Grown Chinese dragon vs. growing Indian juggernaut
-- Prof. C S Shylajan
The race between the two Asian giants is all set to become the most dramatic event of this century, and all are waiting to see who the winner will be - the Chinese dragon or the Indian juggernaut?
© 2008 IUP . All Rights Reserved
ENTREPRENEURSHIP
Women entrepreneurship: The new era
-- Dr. Renu Verma and Dr. Keerti Sharma
The concept of entrepreneurship has gained worldwide popularity in recent years. Women are becoming entrepreneurs at a faster rate as compared to men. With the advent of new millennium, the concept of women growth has led women to play an important role in the development of society and economy as a whole. They also became aware about their rights and duties with the increase in level of education. Women also joined the mainstream of income-generating activities which lead to an entire social and economic transformation. Since then they have done commendable job and came forward breaking the glass ceiling. This article throws light on the current status of women entrepreneurship in India as well as the key factors that lead to women to undertake entrepreneurship. It also focuses on major issues and challenges to be addressed for the future development of women entrepreneurs.
© 2008 IUP . All Rights Reserved
CASE STUDY
The Hutchison Essar acquisition : Vodafone's foray into an emerging market
-- Debapratim Purkayastha and Adapa Srinivasa Rao
In the year 2007, the world's largest telecom company in terms of revenue, Vodafone Plc (Vodafone) made a major foray into the Indian telecom market by acquiring a 52% stake in the Indian telecom company, Hutchison Essar Ltd. (Hutchison Essar), through a deal with the Hong Kong-based Hutchison Telecommunication International Ltd. (HTIL). It was the biggest deal in the Indian telecom market. Vodafone's main motive in going for the deal was its strategy of expanding into emerging and high growth markets like India. In 2007, India had emerged as the fastest growing telecom market in the world outpacing China. But it still had low penetration rates, making it the most lucrative market for global telecom companies. Vodafone faced many obstructions in clinching the deal - initial opposition for the Indian partner of HTIL, Essar Ltd., aggressive bidding by competitors, as well as regulators who took their time to approve the deal. But in the end, Vodafone bagged the deal outbidding other competitors. Though some critics felt that Vodafone had overpaid for Hutchison Essar, Vodafone contended that the price was worth paying as the deal would help it get a massive footprint in one of the most competitive telecommunication markets in the world.
© 2007 IBS Case Development Center. All Rights Reserved.
BOOK REVIEW
The Nature of Leadership: Reptiles, Mammals, and the Challenge of Becoming a Great Leader
-- Authors : B Joseph White and Yaron Prywes Reviewed by Neha Amar
The world is moving at a faster pace than ever before. Nowadays, organizations are becoming very complex and posing a serious challenge to the organizational leaders to manage the organization effectively and efficiently. At the same time, this is also a proved fact that the success of any organization heavily depends upon the leadership ability of the head of the organization. With this backdrop, this book offers a clear and inspiring road map for today's leaders and those of the future by clearly explaining how to set tough standards, continuously raise aspirations, and nurture high energy teams in order to achieve organizational objective effectively and efficiently.
© 2008 IUP . All Rights Reserved
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