Hello to all of you… Life has been running at an unimaginable speed… Since classes started I feel i m a 1000 light years away from this planet.!! Oh yes , life has been tough, hence a late introduction to our class of 2009. To …
Hello to all of you...
Life has been running at an unimaginable speed... Since classes started I feel i m a 1000 light years away from this planet.!!
Oh yes , life has been tough, hence a late introduction to our class of 2009.
To introduce myself... Well, I am a B. Com (Honours) from SRCC itself..passed out in 2006. After grad was placed in Ernst & Young and worked with them til I joined GBO in July 2007.
All aspirants of this course can come forward to discuss life here at SRCC.
As of right now I am frisking through HR Fundas & lookin up for some gyan for tommorrow...
Well, wat is so special about tommorrow..?
Its a Saturday, people relax , n stuff... but i got a lotta work tomm believe me..
Coz we are havin out HR Summit and I hav a lot of work to do tonight... Its an important event where in Speakers from leading corporate houses and practice leaders in HR will speak to us and give us some insight into the emerging trends in HR...
To douse ur curiosity, I l write more on this once the event gets over tommm..
till then adios
Today was the day of reckoning for me....
A huh wat..? well I suddenly realised HR has more to it than meets the eye...Today we at GBO SRCC had a great event lined up at India Habitat Centre, Delhi.
This is the annual HR summit organised by the college and its theme for 2007-08 was " New Vistas & Challenges" in the field of HR for the coming century.
The event kicked off at 10 A.M and ran uptil 5.30 P.M (PHEW!) Seven & a half hour session of intense brainstorming, intellectual exchange n of course enlightenment! It was the merger of great moghuls of HR & the ever so enthusiastic students of GBO.
There were in all 10 speakers with two technical sessions ie. pre lunch & post lunch respectively. The first session was centred around the hottest burning topic of HR today
"HR Outsourcing"
The speakers who spoke on this topic were champions & great practice leaders of HR representing Corporate India with experiences renging from 10 to 25 years.
our guests were Managing directors & HR head
Mr Raghvendra Upadhyay 'Indian Petro Group' (market intelligence)
Mr VP Singh 'Jaipuria Group of Industries'
Mr Vivek Gera 'Centurian bank'
The second session session had the discussion on one of the most critical & neck cracking topic "Diversity Management" speakers on this were:
Mr Sanjay Bose 'TAJ Group of Hotels'
Mr Vivek Kumar 'TATA Consultancy Services'
Mr Sushil Baweja 'DCM Shriram consolidated'
Mr Pankaj Dubey 'Yamaha Motors'
Mr Mohd Kahlid 'Jubilant Organsys' (pharma major)
Mr S Gupta 'EXL Services' (leading BPO)
U can very well see the diversity as firms from different n diverse industries as far apart as Pharmaceuticals, BPO, Hotels, Real estate, automobile, market intelligence, consultancy & various other sectors. This was an excellent knowledge sharing platform for the students of GBO.
Very well then.... m tooooooo tired to tell more about it...I learned two great things about Mahabharta & RAmayana today..!! U mus b thinkin wat is this....
Well it is HR that i learned thrugh this... for more watch this space tommorrow..
There r a lot of interestin things to share.... (YAWN) too tired today
ya it was indeed insightful nd adumburate into the real thing wich we as future manager r going to face and HUMANS r lynchpin for the success of the whole organisaion and the need of getting out of insular knowledge wich a particular company can have,it focussed
on d issues HR OUTSOURCING AND MANAGING DIVERSITY and terefore tere is gr8 need to denude................the covering of our incarcerated mind,especially the relevance of understanding the value of empathy wich is the core of sustainable long term mutually beneficial relationship.sympathy can never help u in maintaining equal relationsips and the importance of removing extraneous expenses and focussing on core competence areas.
the eminent speaker was rite in correlating the lesssons of mahabharta and ramayana in present day scenario, which is in sync with the spirit of VASUDEV KUTUMBKUM especially the example of krishna and the relevanc of such type of ppl in todays highly complex and globalised world
:, the topics of talent management nd motivation r highly informative and this willl help the future managers of SRCC -GBO
to better understand the challenges of management and strictures wich one has to face for entering into feral arena of globalisation:grab:
THE lectures of Mr. Rastogi sir are quite enriching, i would like to shed some gyaan on EBITDA
EBITDA stands for earnigs before interest, taxation, depreciation and amortization. It is basically operating income of the company and reflect true earling potential of the company.
EBITDA = Revenue - expences (cost of goods + general sales and admin expences) but before interest cost, depreciation and amortization.
Comparing EBITDA and EBITDA marginn between companies helps one to understand the operating efficiency of the company in much better manner.
However just relying on EBITDA can be dangerous also as it hides the interest cost and impact of leverage on operating efficiency as well as impact of asset as depreciation is not counted. A common misconception is that EBITDA represents cash earnings. EBITDA is a good metric to evaluate profitability, but not cash flow. EBITDA also leaves out the cash required to fund working capital and the replacement of old equipment, which can be significant. Consequently, EBITDA is often used as an accounting gimmick to dress up a company's earnings. When using this metric, it's key that investors also focus on other performance measures to make sure the company is not trying to hide something with EBITDA.
:wow::wow::wow::wow:
@ akshara_fate..
hii... even am a pass out of 2006 batch B.Com(H) SRCC... first of all.. congrats to u.. getting thru GBO.. am still hunting for a b-school....I hvnt applied for GBO earlier.. can u pls tell me.. hws the paper of GBO.. hw many questions.. any GK section.. sectional cut-offs... difficulty level..
waiting for ur response..
thanxx !!!
hey nihilist1986 Great to hear from a fellow batch mate!! wow the world is indeed a small place..
Which section were u in? who all did u know in colleg...?
mayb i can corelate.. nice hearin from u buddy
Well the GBO exam will be held around january & will have about 175-200 ques
Difficulty level will be on the same lines as of FMS paper
There will not be a sectional cut off probably
I had attempted close to 150 ques to qualify the written test
The cut offs are generally high as it is in the case FMS
There are GK ques..... n u gotta prepare for em, they range from history to geography to i dunno wat (of course Bizness)
I hope i was able to ans ur ques in the rite manner... plz get bak to me if u wanna know more...
hey guys....(akshra n sandeep)..gud 2 c u ppl here! nywy...akshra has already mentioned abt the hr summit...the experience ws jst awesome.We thoroughly enjoyed the presentations given by the speakers..nywy...hope 2 c more such interactive sessions in the near future.
@nihilist1986: i wud suggest..dat rite nw jst concentrate on cat.As akshra has already mentioned , gbo xam is on the lines of fms. for gk..it can b nythn..u can get questions on histry , geogrphy , current affairs , science , biz...etc. The exam will b held in the month of jan..most probably a week after the fms 1...last time there were 160 questions..there is no sectional cut off as such.
Hey Sandeep..ur info on EBITDA was really informative....!! but plz post some more info about the window dressing aspect of the concept..n how it can lead to discrepencies...!!
hi prachi, it can be explained
The 1980s were the heyday of the use of so-called "junk bonds" (high-risk, high-yield bonds) to finance Leveraged Buy-Outs (LBOs). In a leveraged buy-out the target company's assets are used as security for loans acquired to finance the purchase. Attention became focused on EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization, "operating cash flow") as a means of assessing how well a target company could generate the necessary cash to make loan payments. Highly acquisitive companies increasingly began to stress EBITDA rather than net income. Many investors, suspicious of accounting tricks used to boost earnings came to rely on EBITDA as a superior metric of corporate health -- because cash flow is more difficult to manipulate than earnings. but in reality its not an exact measure of calculating cash flow wich i have already mentioned, so the comapnies can manipulate it show higher cash earnings and misguide the investors,
Warren Buffet has been harshly critical of EBITDA, saying that "interest and taxes are real expenses". :
voila.. sandeep u r a hot shot.. i guess then next year u take the Finance class for our juniors wen Shyamal graduates!!
feels great to read such posts..i cn actually imagine being thre...was a part of gbo 2006-2008 fr few days until i left fr mib... bt i miss all gbo friends..kinshuk, priyanka, megha, aashim.... n i must say they hv nice juniors.... n yeah..rustagi sir is awesome..he teaches at mib also so that i cn say fr sure... hope u guys hv rocking placements this yr... all the best 😃
@ zephyr : thnks juhi...for ur kind wrds for juniors of gbo...nywy.. yep rustagi sir is jst 2 gud!!
@ sandeep :boy...kp up da gud wrk...u rock!!
zephyr.. Saysfeels great to read such posts..i cn actually imagine being thre...was a part of gbo 2006-2008 fr few days until i left fr mib... bt i miss all gbo friends..kinshuk, priyanka, megha, aashim.... n i must say they hv nice juniors.... n yeah..rustagi sir is awesome..he teaches at mib also so that i cn say fr sure... hope u guys hv rocking placements this yr... all the best :)
Hey thanks a lot juhi for ur comments.... Although we havnt met u but we hav heard about u from our seniors... hope to meet u soon in your college fest (would lik to participate and visit the MIB fest)
Thanks again...
Alright people...
Today was teacher's day n we thought of bringing a huge smile to our teacher's face...
Today we welcomed our teachers in class with a faboulous bouquet & a wonderful card {and of course a big round of applause!!! }
We are blessed with the best teachers in this country! a very hardworking & talented faculty .. today was indeed their day... In this fast paced life we do forget to take time out, pause & thank these wonderful people for their efforts and dedication.
A few words of love & appreciation for them:
"The dream begins with a teacher who believes in you, who tugs and pushes and leads you to the next plateau, sometimes poking you with a sharp stick called truth. "
Dan Rather
I had a talk with Dr. P C Jain and Dr. J L Gupta. I thanked them for all the learning they bestowed on us as a student. It was a great feeling.
I was not able to get the number of other teachers but ofcourse, at the core did thank them all for making us stand where we are today.
Folks, Finance has never been my strong hold but numbers is. I have immense interest in HR. Do let me know If I can be of any assistance.
Hey Dileep...it seems that u r an ex-srite..! ...DId u do ur undergrad from there or r GBO student...!!
I had a talk with Dr. P C Jain and Dr. J L Gupta. I thanked them for all the learning they bestowed on us as a student. It was a great feeling.
I was not able to get the number of other teachers but ofcourse, at the core did thank them all for making us stand where we are today.
Folks, Finance has never been my strong hold but numbers is. I have immense interest in HR. Do let me know If I can be of any assistance.
Hi Dileep its a pleasure to find u here...
Thanks for posting in this forum... For people who don know Dileep, he is an alumnus of GBO and our super super senior!! Thanks again for ur inputs Dileep...We will definitely get back to u as even i have discovered a 'new found interest in HR.' Lookin forward to a gyan session from u..:)
Issue of capital account convertability and India
There is no formal definition given to Capital account convertibility(CAC)or FLOATING EXCHANGE RATE, but in case of India, the first Tarapore committee appointed in 1997 says on this
"Capital account convertibility (CAC) refers to the freedom to convert local financial assets into foreign financial assets and vice versa at market determined rates of exchange. It is associated with changes of ownership in foreign/domestic financial assets and liabilities and embodies the creation and liquidation of claims on, or by, the rest of the world."
It refers to the removal of restraints on international flows on a country's capital account, enabling full currency convertibility and opening of the financial system
India current status : India currently have CURRENT account convertibility-.Current account convertibility allows free inflows and outflows for all purposes other than for capital purposes such as investments and loans. In other words, it allows residents to make and receive trade-related payments receive dollars (or any other foreign currency) for export of goods and services and pay dollars for import of goods and services, make sundry remittances, access foreign currency for travel, studies abroad, medical treatment and gifts etc. In India, current account convertibility was established with the acceptance of the obligations under Article VIII of the IMFs Articles of Agreement in August 1994.
Why capital account convertibility?
Capital account convertibility is considered to be one of the major features of a developed economy. It helps attract foreign investment. It offers foreign investors a lot of comfort as they can re-convert local currency into foreign currency anytime they want to and take their money away.
At the same time, capital account convertibility makes it easier for domestic companies to tap foreign markets. At the moment, India has current account convertibility. This means one can import and export goods or receive or make payments for services rendered. However, investments and borrowings are restricted.
But economists say that jumping into capital account convertibility game without considering the downside of the step could harm the economy. The East Asian economic crisis is cited as an example by those opposed to capital account convertibility.
Is it suitable for India for the application of CAC three condition must be satisfied
Sound financial system
Fiscal consolidation
Low inflation
India have low inflation, but above two r lacking, but efforts r been made
How does capital a/c convertibility affect you?
As most of us know, resident Indians cannot move their money abroad freely. That is, one has to operate within the limits specified by the Reserve Bank of India and obtain permission from RBI for anything concerning foreign currency.
For example, the annual limit for the amount you are allowed to carry on a private visit abroad is $10,000: of which only $5,000 can be in cash. For business travel, the yearly limit is $25,000. Similarly, you can gift or donate up to $5,000 in a year.
The RBI limit raises the limit if you are going abroad for employment, or are emigrating to another country, or are going for studies abroad: the limit in both these cases is $100,000.
You are also allowed to invest into foreign stock markets up to the extent of $25,000 in a year.
For the average Indian, these 'limits' seem generous and might not affect him at all. But for heavy spenders and those with visions of buying a house abroad or a Van Gogh painting, it will mean a lot.
And how will it affect Non-Resident Indians?
Capital account convertibility may NRIs as it will help remove all shackles on movement of their funds.
Currently, NRIs have to produce a whole lot of documents and certificates if they want to buy a house in India (for which the lock-in period is 10 years, meaning they can't take their money back overseas if they sell the house after having owned it for less than 10 years), or send money to India from their overseas accounts
So if full capital account convertibility is allowed, what can you or I do that was not possible earlier?
A full convertibility means movement of funds in and out of India without any restrictions and `no questions asked' basis.
This would mean that anybody could walk into a bank and instruct to transfer money anywhere (exception will be restricted countries and/or region specified from time to time) and allow banks to receive funds from any entity from abroad for credit as per instructions of the remitter.
Going forward, it would also mean that a domestic individual can pay in foreign currency for purchases in India - rupee or US dollar or euro or yen will mean the same (hence, the ability to hold your cash in a currency which is strong)."
How many countries have full convertibility? In those countries, would it be possible for the rupee to be freely exchanged for other currencies or goods purchased through rupees?
All developed economies have full convertibility, including many South East Asian countries.
Since rupee is not fully convertible, it is of no value - whereas US dollar, pound sterling, euro, Singapore dollar, Malaysian ringitt, Yen etc are accepted.
A convertible currency is accepted in a non-convertible country (eg. US dollar, pound sterling etc are convertible in India) while non-convertible currency is not accepted in convertible country (eg rupee is of no value in US, Europe, Japan etc)."
