Successful strategic thinkers always have perspective. They consider the potential impact of their actions on those beyond their team or unit. Next time you need to make a big decision, here are three ways to make sure your thinking isn't too narrow:
Today's Management Tip was adapted from the Harvard ManageMentor Online Module: Strategic Thinking.
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Thursday, August 23, 2012
Management Tip of the Day - See the Big Picture Before Making a Decision
SBI, BoI allowed to operate in Pakistan
Press Trust of India / Singapore Aug 22, 2012, 19:14 IST
India and Pakistan have agreed to allow two banks each from both the countries to set up branches across the border, Governor of the State Bank of Pakistan, Yaseen Anwar said today.
"We have held discussions with the Reserve Bank of India and both sides have agreed to issue a full banking licence to two banks of each country," Anwar told PTI on the sidelines of a conference organised by Institute of South Asian Studies.
The two Indian banks that will be allowed to operate in Pakistan are State Bank of India (SBI) and Bank of India (BoI).
On the other hand, quasi-state owned National Bank of Pakistan and privately-owned United Bank Ltd. Will be running full-banking operations across the border, once licensed by India.
"It will take few months to approve Indian banks' licences on receiving them," he said.
"We are ready to go tomorrow to India" to set up banking operations, Anwar said.
Discussions have been held with RBI Governor D Subbarao to issue banking licences, he said, adding that the process will help normalise trade relations between India and Pakistan.
Meanwhile, officials from the Bank of India in Singapore have recently visited Karachi for setting up an office in Pakistan, said Syed Hasan Javed, Pakistan High Commissioner to Singapore.
India eases domestic, overseas borrowing regulations
Reuters / Mumbai Aug 23, 2012, 10:54 IST
India is looking to make it easier for companies to raise funds by allowing them to issue rupee bonds that are guaranteed from offshore entities, while easing some of its overseas borrowing rules.
Earlier, only infrastructure and infrastructure finance companies could issue rupee-denominated bonds with guarantees from multilateral or regional financial institutions.
The guarantee for domestic companies from offshore entities effectively lifts the credit ratings of the bonds, benefitting lower-rated borrowers.
Indian companies have been constrained in their funding options due to high domestic interest rates and difficulties in tapping markets overseas.
The government is also keen to take measures to boost confidence in India after the country's image took a beating among foreign investors because of slowing policy reforms.
The actions targeting credit guarantees would especially benefit sectors such as telecoms and energy, where foreign companies often operate via Indian units, but whose domestic borrowing had been constrained if they had lower ratings than their parent companies.
Foreign investors will also be allowed to invest up to $5 billion in these credit-enhanced rupee bonds, although the overall corporate bond limit will remain at $45 billion.
The minimum maturity of bonds issued by these domestic units has been reduced to three years from seven years.
Among other measures, the government will allow infrastructure and manufacturing companies to re-finance a higher proportion of their rupee borrowings via cheaper overseas debt.
These companies can now tap overseas loans up to 75 percent of their average forex earnings over the previous three financial years from 50 percent previously.
The government has also allowed state-run refinance institution S IDBI to tap overseas funds to then lend on to medium and small enterprises.
To boost low-cost housing, India will also allow National Housing Bank and housing finance companies to borrow from overseas markets.
Sonia Gandhi occupies sixth slot on Forbes list of most influential woman,
23 AUG, 2012, 12.11AM IST, PTI
NEW YORK: Congress party president Sonia Gandhihas been ranked the sixth most powerful woman in the world, ahead of US First Lady Michelle Obama, byForbes magazine in its list of 100 influential women, which was topped by German Chancellor Angela Merkel.
Gandhi, 65, is among the five Indian women who have been named in the 'World's 100 Most Powerful Women' list released by Forbes. The UPA chairperson was ranked 7th last year.
Giving Gandhi company is Chairman and CEO, PepsiCo Indra Nooyi who was ranked at 12th followed by Cisco Systems Chief Technology and Strategy Officer Padmasree Warrior at 58th place, ICICI Bank Managing Director and CEO Chanda Kochhar at 59th and Biocon founder Kiran Mazumdar-Shaw at 80th rank.
Forbes said Gandhi the "one-time heir to the Nehru-Gandhi political dynasty", successfully underwent a surgery last year and was "back in fighting spirit last month when she publicly reprimanded a fellow parliamentarian during session who had criticised her party's handling of this summer's rioting in Assam."
The longest serving chief in the Congress party's history, Gandhi has had to defend herself and the party after a spate of key assembly elections this year, blaming the drubbing on weak candidates and state party organisations.
"Lauded for overseeing heavy economic growth, she is also criticized for tolerating political corruption and failing to forge connections with India's fastest-growing demographic--younger voters," the publication said.
Merkel occupied the spot of the world's most powerful woman for the second year in a row. Calling her the "Iron Lady" of Europe, Forbes said she is the lead player in the eurozone economic drama that continues to threaten global markets.
"As Greece, Spain, Italy and Portugal have teetered on the brink of an economic collapse, she (Merkel) has vowed to do everything in her power to preserve the 17-country European Union," Forbes said.
Merkel has been the German chancellor since 2005, and her recent public approval ratings soared to near 70% - a good sign leading into the general election in the fall of 2013.
Merkel is embracing the Internet, and last fall launched a YouTube channel, Die Bundesregierung, where she directly answers citizens' questions, the publication added.
US Secretary of State Hillary Clinton has been ranked second in the list, followed by Brazilian President Dilma Rousseff at number three, New York Times Executive Editor Jill Abramson at 5 and Obama at 7.
Pepsi Co's 56-year-old Indian-origin CEO Nooyi has been ranked 12 in the list. Terming her the "superstar CEO", Forbes said Nooyi last year returned $5.6 billion to shareholders, when PepsiCo net revenue grew 14% to $66 billion.
Forbes said Cisco's 51-year-old Warrior took on the expanded role as Strategy officer in June, after five years as CTO, and "insiders say the move could indicate she's being groomed for the top spot."
Warrior is responsible for all deals activity as one of the most acquisitive firms in technology reconfigures its business strategy.
Chanda Kochhar, 50, the first woman to run ICICI Bank, oversees assets of $93 billion, more than 2,750 branches in India and the bank's presence in 19 countries.
Banking services come to a halt as two-day strike begins
BL : 23 Aug 2012
Banking services across the country were hit as about 10 lakh employees from public sector, old-generation private sector and regional rural banks stayed away from work on Day 1 of the two-day strike called by the United Forum of Bank Unions (UFBU).
The strike, which was called by the umbrella body of nine trade unions to oppose, among others, the Government’s proposal to increase shareholder voting rights, unfriendly human resource policies, received an “overwhelming response,” according to Vishwas Utagi, Secretary, All-India Bank Employees Association.
Due to the strike, it is estimated that cheques aggregating about Rs 40,000 crore across the country could not be presented for clearing and settlement on Wednesday. In Mumbai alone, clearing transactions worth about Rs 7,000 crore could not take place.
Small businesses transacting with only public sector banks are likely to have faced the brunt of the strike as current account transactions were affected.
However, cash transactions were not affected because banks ensured that ATMs are sufficiently stacked with money. “Our ATMs are fully loaded to cover withdrawals till Saturday,” Vilas Palav, Branch Manager, SBI, Fort Branch, Mumbai, said.
“The strike’s motive is to defend the public sector banks. We want banking to expand to rural areas and not allow FDI to hijack our banking system. We have sacrificed our two-day salary… “There is no question of calling off the strike and it will go on as scheduled tomorrow. We will go on strike again if the Banking (Laws) Amendment Bill gets tabled in Parliament,” said Utagi.
TOTAL IN WEST BENGAL
According to Gautam Bose, convenor, UFBU (West Bengal unit), nearly 8,000 branches of public, private and foreign banks in the State were a part of the strike.
Shutters at most of the ATMs of public sector and private sector banks in the State were down as the personnel guarding the machines participated in the stir. “Close to 1.5 lakh employees working across 8,000 branches participated in the strike,” Bose said. Among private banks, only the old private banks are participating in the strike.
LOSS ESTIMATE
Assocham has pegged the loss due to the all-India bank strike on Wednesday at Rs 10,000-15,0000 crore. It has urged the UFBU to call off the strike on Thursday.
Wednesday, August 22, 2012
Public sector bank employees go on strike; services affected
BL : PTI : 22 Aug 2021
Banking services across the financial capital of India were hit as employees from all public sector banks stayed away from work on Day 1 of the nation-wide strike called by the United Forum of Bank Unions (UFBU).
All public sector banks downing shutters in Mumbai was a common sight.
Cheque clearing transactions will be delayed by at least two days. This is suppose to delay the cheque transactions worth at least Rs 14,000 crore till tomorrow.
Small businesses holding only one account with a public sector bank are likely to face the brunt of the strike as current account transactions will be delayed.
However, individuals with sufficient funds and ATM cards will be spared the trouble as even public sector banks have ensured that all its ATMs are sufficiently loaded.
“Out ATMs are fully loaded to cover withdrawals till Saturday,” Vilas Palav, Branch Manager, SBI, Fort Branch, said.
Private sector banks like ICICI Bank are hoping to make merry of the bandh called by employee unions. It is hoping to see more transactions through its branches for account holders who hold accounts in ICICI Bank as well as a striking public sector bank.
Among private banks, only old private banks are participating in the strike.
The strike has been called primarily to oppose the Government’s proposal to increase the shareholders' voting rights from 1 per cent to 10 per cent in public sector banks and to 26 per cent (10 per cent) in private banks. This, according to UFBU, would lead to privatisation of banks.
UFBU, an umbrella organisation of nine trade unions in the banking sector, also wants the Khandelwal Committee’s recommendations scrapped as it bypasses the employee unions in respect of HR matters.
PTI reports:
Employees of public sector banks have gone on a two-day nationwide strike today opposing the banking sector reforms and outsourcing of non-core activities.
The strike has hit the banking operations. Several private sector banks, foreign banks and ATMs, however, continued to operate normally.
The strike call was given by the United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions of employees and officers of PSU banks.
They are protesting against the banking sector reforms and unilateral implementation of the Khandelwal committee report on human resources management in PSU banks.
“The strike is on since this morning. Nearly 10 lakh employees are participating in it. This includes 24 public sector banks, 12 private banks and six foreign banks,” All India Bank Employees Association (AIBEA) General Secretary C.H. Venkatachalam told PTI.
He also said that ATM machines will work until they have the cash and thereafter those services will also be impacted.
The strike has been called against government’s policies of liberalisation, privatisation and globalisation. Bank unions are demanding stringent and effective measures to recover bad loans.
“Strike is going on normally, demonstration will start by 10-10.30 am. All the nine unions are participating in the strike,” said Rakesh Agarwal, General Secretary, SBI Officers Association.
Bank unions have been demanding for pension revision, housing loan revision, five-day working week and human resource related issues, Agarwal said.
There are about 87,000 branches of public sector banks, employing over 10 lakh people. PSU banks, which operate 63,000 ATMs, control about 75 per cent banking business in the country.
Operations hit
According to reports, operations like deposit, withdrawal as well as clearing are affected in public sector banks, including the largest lender State Bank of India, due to the strike.
However, in the private sector, operations were normal in ICICI Bank, HDFC Bank and Axis Bank and foreign banks.
Among other things, the trade unions are protesting against the Banking Laws Amendment Bill which is pending in Parliament and implementation of the Khandelwal committee report.
The Amendment Bill, 2011 contains provisions such as raising of shareholders’ voting rights from 10 per cent to 26 per cent in private banks and supersession of bank boards.
Khandelwal panel
The Centre-appointed Khandelwal panel had suggested a slew of measures, including more outsourcing of non-core activities in a time-bound manner.
Also, the standard of recruitment, including methodology and content for testing, has to be raised. Testing of computer skills will be mandatory for both officers and clerks, the panel had recommended.
The Khandelwal committee had also suggested that the minimum qualification for clerks and sub-staff should be graduation and class 10, respectively.
The unions, which had given the strike call, include the All India Bank Employees’ Association, All India Bank Officers’ Confederation, National Confederation of Bank Employees, All India Bank Officers’ Association, Bank Employees Federation of India, India National Bank Employees Federation, Indian National Bank Officers Congress, National Organisation of Bank Workers and National Organisation of Bank Officers.
Strike impact
In Mumbai, there was marginal impact of the strike.
SBI said it is too early to assess the impact on operations as the headquarters has not received any feedback from the branches.
An official of the Corporation Bank said employees belonging to the striking unions are absent from work, impacting the operations.
Union Bank, Central Bank and Bank of India said that their branches have recorded thin attendance so far.
Old private sector banks like Federal Bank and Dhanlaxmi Bank also said that their branches, being run by managers of Grade IV and below, are impacted due to the strike.
These banks typically have around half of their branches run by lower grade officers, who are part of the National Federation which is striking.
Transactions hit
Meanwhile, banking transactions came to a halt in public sector banks in Punjab and Haryana, although private banks like HDFC Bank and ICICI ICICI Bank continued to operate.
The impact of the strike was visible on the industrial sectors of both Punjab and Haryana as industry representatives fumed over hampering of their business activities due to the two-day long strike by bank employees.
Industry representatives, particularly of the MSME sector, said they could not arrange funds for working capital requirements.
“The slowdown in the economy coupled with sluggish demand has already hit the industrial sector. Now, the strike will add to our woes. It is unthinkable to carry out any financial transaction without banks,” a Ludhiana based industrialist N. Bhamra said.
Due to the strike, cheques worth several crores of rupees remained uncleared in the public sector banks. Several banks’ asset recovery branches have even postponed the auction of loan defaulters’ properties.
சென்னை இன்று தனது 373வது பிறந்தநாளைக் கொண்டாடுகிறது.
ஒன்இந்தியா :22 Aug 2021
சென்னை: கிராமமாக இருந்து மாநகரமான சென்னை இன்று தனது 373வது பிறந்தநாளைக் கொண்டாடுகிறது.
இன்று மாநகரமாக உள்ள சென்னை ஒரு காலத்தில் சிறு, சிறு கிராமங்களாக இருந்தது. அவற்றை பல்லவ, சோழ, பாண்டிய மற்றும் விஜயநகர மன்னர்கள் ஆண்டனர். மன்னர் ஆட்சி நடக்கையில் வெளிநாட்டு வர்த்தகர்களும், மதபோதகர்களும் கப்பல் மூலம் சென்னை கடற்கரையில் வந்திறங்கினர். அப்போது சென்னை, சென்னப்பட்டிணம் என்று அழைக்கப்பட்டது.
1639ம் ஆண்டு கிழக்கிந்திய கம்பெனியின் ஏஜெண்டுகளான பிரான்சிஸ் டே, ஆண்ட்ரூ கோகன் சென்னப்பட்டிணத்தில் ஆங்கிலேயர்களுக்கு குடியிருப்பு கட்ட முடிவு செய்தனர். பின்னர் ஓராண்டு கழித்து புனித ஜார்ஜ் கோட்டை கட்டப்பட்டது. அதை மையமாக வைத்து தான் ஆங்கிலேயர்களுக்கு குடியிருப்புகள் கட்டப்பட்டன. இந்த காரணத்தால் சென்னப்பட்டிணத்தை சுற்றி இருந்த திருவல்லிக்கேணி, புரசைவாக்கம், எழும்பூர், சேத்துப்பட்டு போன்ற கிராமங்கள் ஒன்றிணைக்கப்பட்டன.
1639ம் ஆண்டு கிழக்கிந்திய கம்பெனியின் ஏஜெண்டுகளான பிரான்சிஸ் டே, ஆண்ட்ரூ கோகன் சென்னப்பட்டிணத்தில் ஆங்கிலேயர்களுக்கு குடியிருப்பு கட்ட முடிவு செய்தனர். பின்னர் ஓராண்டு கழித்து புனித ஜார்ஜ் கோட்டை கட்டப்பட்டது. அதை மையமாக வைத்து தான் ஆங்கிலேயர்களுக்கு குடியிருப்புகள் கட்டப்பட்டன. இந்த காரணத்தால் சென்னப்பட்டிணத்தை சுற்றி இருந்த திருவல்லிக்கேணி, புரசைவாக்கம், எழும்பூர், சேத்துப்பட்டு போன்ற கிராமங்கள் ஒன்றிணைக்கப்பட்டன.
தொடர்ந்து 1688ம் ஆண்டு சென்னையை முதல் நகரசபையாக அறிவித்தார் இரண்டாம் ஜேம்ஸ் மன்னர். இதன் மூலம் இந்தியாவின் முதல் நகரசபை ஆன பெருமை சென்னைக்கு கிடைத்தது.
இந்நிலையில் 1746ல் ஜார்ஜ் கோட்டை மற்றும் சென்னை நகரை பிரான்ஸ் நாட்டினர் கைப்பற்றினர். பின்னர் 1749ம் ஆண்டு அவை மீண்டும் ஆங்கிலேயர்கள் கைப்பற்றினர். இரண்டாம் முறை சென்னை ஆங்கிலேயர்கள் கைக்கு வந்த பிறகே அதீத வளர்ச்சி கண்டது. இந்தியாவின் முக்கிய நகரங்களை சென்னையுடன் இணைக்க ரயில் பாதைகள் அமைக்கப்பட்டன.
கிராமமாக இருந்த சென்னப்பட்டிணம் மதராஸ் மாகாணம் மற்றும் மதராஸ்பட்டிணம் என்று அழைக்கப்பட்டது. 1947ம் ஆண்டு இந்தியா சுதந்திரம் அடைந்த பிறகு மதராஸ் மகாணாத்தின் தலைநகரானது சென்னை.
பின்னர் 1956ம் ஆண்டு இந்திய மாநிலங்கள் மொழி வாரியாக பிரிக்கப்பட்டன. அப்போது தமிழகத்தின் தலைநகரானது மதராஸ். கடந்த 1996ம் ஆண்டு மதராஸ் என்ற பெயரை மாற்றி சென்னை என்று அழைக்கப்பட்டது. பல்வேறு மொழி பேசும் மக்கள் வாழும் காஸ்மோபாலிடன் நகரமாக உள்ளது சென்னை.
இந்தியாவிலேயே அதிகமாக வாகன உற்பத்தி தொழிற்சாலைகள் சென்னையில் தான் உள்ளன. ஜவுளி, பெட்ரோ கெமிக்கல்ஸ் என்று பல்வேறு துறைகளில் சென்னை சிறந்து விளங்கி வருகிறது.
சென்னையில் இருந்து பிற மாநிலங்களுக்கு செல்ல ரயில் மற்றும் விமான போக்குவரத்து வசதி உள்ளது. மேலும் வெளிநாடுகளுக்கும் விமான சேவை உள்ளது. இது தவிர கப்பல் போக்குவரத்தும் உள்ளது. மேலும் மெட்ரோ மற்றும் மோனோ ரயில் திட்டங்கள் விரைவில் வரவிருக்கின்றன.
பண்டைய கால கட்டிடக்கலைக்கு எடுத்துக்காட்டாக சென்னை பல்கலைக்கழகம், உயர் நீதிமன்றம், எழும்பூர் அருங்காட்சியகம், ரிப்பன் மாளிகை, விக்டோரியா ஹால், மெமோரியல் ஹால், சென்ட்ரல் மற்றும் எழும்பூர் ரயில் நிலையங்கள் ஆகியவை கம்பீரமாக காட்சியளிக்கின்றன.
அந்த காலத்தில் கூவம் மற்றும் அடையாறு ஆகியவை தூய்மையாக இருந்தன. ஆனால் தற்போது சென்னையின் மக்கள் தொகையால் அவற்றில் சாக்கடை தான் ஓடுகிறது. கிராமமாக இருந்து நகரமாக மாறி தற்போது கிரேட்டர் சென்னையாக தரம் உயர்ந்துள்ள தமிழகத்தின் தலைநகரம் இன்று தனது 373வது பிறந்தநாளைக் கொண்டாடுகிறது.
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