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“To bring anything into your life, imagine that it’s already there.” – Richard
Bach.

Imagination is the process of harnessing and utilizing the creative power of the
mind. Imagination resides in the boundless realm of the mind where you can
travel anywhere at the speed of thought. When you soar with the wondrous
creative powers of your imagination, you possess a first-
first-class ticket to the life
of your dreams. Imagination has been the tool of all the great innovation of
the world.

This imagination, powered with innovation can help us invent newer avenues
in the future path as we traverse as young professionals.

We welcome you all to the very first edition of “E“E--mag!

mag!ne”
ne” the E magazine
brought out by the students of Masters in Human Resource Managem
Management ent
department (MHRM) of Indian Institute of Social Welfare & Business
Management (IISWBM). The purpose of E-mag! mag!nene is to update its readers with
events in the corporate scenario as well as to enlighten them with clarity of
thought and ideas with illustration of basic management concepts.

Our journey begins with the inspirational inputs from our mentors, our
learned faculty members. Without their guidance and support, our initiatives
would never have reached the acumen of success. Expression of thought finds
a new facade in our sections of photography, sketches and poetry. And in case
you want to catch up with the latest trivia connected to our department, our
Campus Byte section is a must for you!

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We would like to thank everyone who has contributed to this magazine and
we sincerely hope to receive more contributions for our future editions.

Please feel free to write to us at emagine.mhrm@gmail.com with your

feedback and suggestions. We would appreciate all your ideas and inputs.

Hope you enjoy reading the very first edition of E-mag!ne and the ones that
follow.

Warm Regards

Team E-mag!ne TEAM E-MAG!NE

EDITOR: SRIMOYEE RAY

BIKRAM SARKAR

DESIGN: BIKRAM SARKAR

PORTRAITS : MALINI SENGUPTA

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 INDIAN INSTITUTE OF SOCIAL WELFARE AND
BUSINESS MANAGEMENT (IISWBM), the first B- B-
School in India was inaugurated on April 25, 1953
by Late Dr. B.C Roy,
Roy the then Chief Minister of
West Bengal. The institutions foundation stone
was laid down by the first Prime Minister of India
Late Pandit Jawahar Lal Nehru.

The institutes alumni include eminent personalities like Mr. L. N Mittal,

Professor D. K. Sanyal, Srimati Renuka Ray, (Late) Sumantro Ghosal to
name a few

IISWBM, the only B-School on whose name a

postage stamp has been issued by the Government
of India on its completion of 50 years of academic
glory on 25th April 2003

IISWBM was the first B School

to have honourable former
President Dr. A. P. J. Abdul Kalam in our
convocation held on December 16th 2006.

Dr.Kalam congratulated the graduating students of

IISWBM and quoted “I am confident that the young
graduates of IISWBM will certainly imbibe the
quality of creative leaders and be partners in the
transformation of West Bengal into a developed
state.

IISWBM introduced a special course Masters of

Human Resource Management (MHRM) which has
been designed to give the students a liberal business
education, preparing then to manage most
significant aster of an organization i.e. Human capital

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From the Director’s Desk 6

‘Satyam’ about socializing private

priv ate losses 9

Brand “YOU” 12

Strategic HRM 16

Rhyme & Reason

You win some.. you lose

lose some 19

मन के सपने 20

Picture This

The new age MBA 21

Yesterday.. Once more 22

Campus Byte 23

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 Professor P.K.Misra,

Head, MHRM & industrial growth has created

Director, IISWBM segments of industry, which can be
categorized as sectors.

Some of the sectors are:

Student of Masters in Human
Financial – banking, insurance &
Resource Management (MHRM)
Capital investment services
Indian Institute of Social Welfare
and Business Management have Software
taken initiative to start e magazine.
The magazine besides unleashing Telecommunication
the creative potential of the Energy
students will help in sharing
knowledge. The magazine will also Transport & Logistics
provide an interactive forum for the Hotel and Hospitality including
students of IISWBM and other Tourism
Business Schools. I am indeed very
happy for this, being Head, MHRM Health Care
and Director, IISWBM.
Media
The economic liberalization has Retail
spurred industrial growth and
brought in fierce competition. The

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Pharmaceuticals
Automobiles
Manufacturing industry other than
automobiles
Construction – infrastructure
Oil and Natural
Natural Gas
Textile
Agriculture products etc
The market is customer driven. The
customers require products, which
meet their specific needs in terms of
functions, quality, cost and
availability. To produce, sell and
service these specific products,
special skills are needed. In order to
survive and grow, the future
professional managers will have to
be equipped with these special skills.
Those of the management
institutes, which can cope up with,
these special requirements are going
to flourish.
The management institutes will
have to develop students as
professionals. Mere academic
knowledge with the budding
managers is not going to fully serve
the needs of the industry. The
personality of students has to be
transformed into a professional
manager, having ability to survive
the stresses and strain of the
competitive market conditions and
possessing necessary special skills
needed for the specific sector.
This will mean that the students
have to be observed and trained in
campus. The management courses
will have to be residential to enable
the faculty to observe and develop
students as professionals. In order
to cater to the special needs of each
sector, the students may have to
choose the area of specialization
from the day they join the training
in a management institute.
Selling pharmaceutical products is
very different from selling
insurance. Similarly production of
steel is different from operations in
an electronics industry.
The industry has to be a partner of
management institutes in training
of students. In addition, resources
in terms of the faculty with
experience in specific sectors will
have to be provided. This perhaps
will be most difficult to obtain. In
the absence of adequate in house
resources, the institutes will have to
depend on outside help. Persons
with suitable experience in the
industry, and penchant for teaching
may be able to establish educational
consultancy companies to cater to
such needs.
A new system of education is fast
emerging in which the institutions
partner other management
institutes for mutual help through
online teaching. A large number of
colleges catering to distance
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education already exist. Many of
them have specialized resources in
some areas. These institutes have
already perfected distance
education. Their help in selected
areas ‘on line’ will be needed more
and more. The systems like
education through video
conferencing and virtual classrooms
in the required areas may have to be
introduced.
The e magazine, which is being
launched, should be able to meet
some of these emerging needs in
management education. I see a
bright future for this magazine. I
congratulate the students for taking
this initiative. I wish them success in
their endeavour.
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 PRITHA BASU, MHRM 2008-
2008-2010
“Balance sheett with an inflated cash and bank
Balance shee
balance of Rs 5,040 crore, NonNon--existence of
Accrued interest of Rs 376 crore, Rs. 1,230
crore was arranged to Satyam, but was not
reflected in the books."
The recent accounting fraud at Satyam
Computers Ltd, one of the top five IT
companies of India, has raised several
questions on corporate ethics and
accountability, the Role of Regulators in
Corporate Governance and also the age old
issue of privatizing profits and socializing
losses. And it is very much evident from the
fact that corporate India and their sponsors in
the Government are trying to project this
fiasco more as an aberration rather than a
deliberate act. There is a noticeable reluctance
to acknowledge and address, the systemic
issues involved both on the part of
government as well as the judiciary although
SEBI is now trying to probe insider trading
charges against the Satyam Board members.
Since the period of liberalization, Indian
corporate, backed by the Government have
tried to emulate the American financial and
corporate governance systems by making the
economic activities more liberated and
curbing the scope of vigilance. One of those
drawbacks of liberalized capital markets is that
it leads to an obsession with the stock market
valuation of firms. The problem gets
compounded when the firms feels the
pressures to make huge sums of money in a
very short period, through speculative capital
gains rather than real value addition. As a
result of this prevalent trend, the American
system has been badly exposed in the recent
sub-prime meltdown and the consequent
bankruptcies of leading financial entities. But
as we all know the Federal government came
to the rescue of these big shots sighting
socio-economic reasons. Frankly this is quite
a familiar scenario all over the world and India
is no exception in this regard.
The same thing happened with Satyam, the
manipulation of accounts was going on for
years in innumerable ways basically to inflate
the firm’s profits in order to gain from higher
stock prices and market capitalization. And
through this Ramalinga Raju had made huge
capital gains in the stock market and also
being an IT company enjoyed an almost zero
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tax regime and also floated real estate
ventures like Maytas, which was again heavily
rewarded with land and lucrative contracts by
the Andhra Pradesh Government. So beyond
any sort of reasonable doubt it can be stated
that Satyam has made maximum utilization
of its corporate image and status to maximize
profits. And during this entire time whilst
Satyam was busy making unfair profits it did
every possible thing to evade its social
responsibilities. But sadly the government
cannot escape its social responsibilities or in
such cases we can say it has to bear the losses
created by the private sector.
But in this case the Government's decision to
defer the bail-out package for Satyam is
unquestionably appropriate as bailing out
Satyam by using tax payers’ money, would
amount to yet another squalid instance of
socializing private sector losses. Apparently, it
has recognized the fact that considering
financial help for a hoaxer is not a social,
economic or ethical option. More so, when it
recognizes the failure of different government
mechanisms such as auditors, regulators and
banks. But at the same time to address the
interests of more than 50000 employees of
Satyam and save the global reputation of
“Brand India”, the government has to ensure
that the enterprise continues to function
viably so that the jobs and salaries stay
protected.
The Satyam incidence is not a stray incidence
at all, majority of the companies indulge in
such practices to a variable extent. A private
sector company adhering to unethical
standards and drawing off public money to
serve personal ends of its promoters and CEO
does not deserve any pity or leniency. And
the bail-out of Satyam would only fuel the
issue of privatization of profit and
socialization of losses. But let’s face it
‘maximizing profits in minimum time’ is the
name of the game in the era of capitalism and
LPG. So without moving away from today’s
paradigm of liberalized markets “liberalization
with regulation” is the need of the hour.
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 SRIMOYEE RAY, MHRM 2008-
2008-2010
Walter Landor, one of the greats of
the advertising industry, said:
"simply promise.. By
simply put, a brand is a promise
identifying and authenticating a
product or service it delivers a
pledge of satisfaction and quality."
More rightly put A brand is a
collection of perceptions in the
mind of the consumer
Most people have a general
understanding of brands, which are
omnipresent1 in this commercial,
market-driven society in which we
find ourselves. An important aspect
of brands is that they are abstract.
Think about the following brands.
What abstract quality does each
invoke for you?
Nike,
ike, Pepsi,
Pepsi, Starbucks
Starbucks, Volvo
If you are like most consumers,
each of these brands has an
identifiable personality. The goal of
the Pepsi brand is to ensure that
your mental construct of Pepsi is
not about colored sugar water; it is
about re-establishing your
connection with your youth
whenever you drink a Pepsi. Volvo
makes cars, but what they really
provide is safe transportation for
you and your loved ones. Nike
markets sneakers, but in actuality
identifies the inner athlete, the
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talented, confident, successful
competitor lurking inside. Starbucks
sells coffee, but what each Starbucks
cafe represents is a warm,
comfortable gathering place. The
marketing theory is that by
associating these abstract, highly
compelling qualities that consumers
desire with specific products, those
consumers are more likely to
purchase those products, and to
derive pleasure, and thus value,
from those products, far beyond
their utilitarian benefits.
Personal Branding
“When Tom Peters first wrote
about Brand You, it was cool. Now
death
it's life or death.”
Personal Branding is the art of
attracting and keeping more clients
by actively shaping public
perception..
External brand
The external brand is how one
projects oneself to the world. There
is an element of choice here. One
can decide what to say or write in
order to convey a certain image.
One’s projected image will influence
what others think of him and how
they might choose to interact with
him. One may stumble upon this
image accidentally,
or one can deliberately target a
specific type of image.
I think the best external image to
project is the one you believe best
reflects who you really are. Being
oneself simply means being honest.
Paying attention to one’s external
image needn’t become an ego trip.
Really it’s just the opposite.
Becoming aware of how others see
one helps one identify blind spots
within oneself. Then one can work
on those blind spots to help one
become more internally congruent.
Internal brand
In addition to one’s external brand,
which is how most people think
about personal branding, one also
have an internal brand. This is what
one thinks of oneself.
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I believe there are three areas you what one stands for, one’s brand
need to focus on when assembling message will become clear. It will
your "BrandYou" strategy be clear to others
precisely because it is clear to
(1) Develop your brand. (2)
him. A clear message is a
Package your brand. (3)
message people can trust.
Communicate your brand
Personal brands do evolve
overtime somewhat, but they
(1)D
(1)Developing your brand remain essentially consistent at
During the development of the core.
"BrandYou" one needs to ask
oneself some basic (2) Packaging your brand
questions. For example: What
Companies spend tons of
are my values? What do i love?
money on the packaging of their
What do i hate?
goods and services. Why? After
What am I insanely great at
all, it is the actual product or
doing? What am I most proud
service that is important; the
of?
packaging is superfluous, right?
What do I want to be? What is
Wrong. Like it or not, superficial
important and valuable to me?
or not, people judge products
What do i want to be known
(and people too) based in part
for? Basic, fundamental
on appearances. First
questions, yes. And yet,
impressions, as we have all been
sometimes these are the most
told, are huge. Packaging for a
difficult to answer. But they
new shampoo or an iPod Mini
must be answered and must be
certainly makes sense. We can
true.
understand that. A package for a
physical product has to attract,
The three pillars of a good brand
inform, and persuade the
are authenticity, consistency,
customer to buy. But the
and clarity. This holds true for
packages of a brand — even a
ones personal brand as well. One
physical product — is much
uses these three pillars as one’s
more than the wrapper
guide when evaluating one’s
brand. By delving deep into
oneself during this process and
working hard to define who one
is and

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(3) Communicating your brand
"If you're not appearing, you're
disappearing," said legendary jazz
musician, Art Blakey.
Absolutely true. No matter what
your "thing" is — engineer,
marketing exec, or French
Literature professor, whatever!
— standing on the merits of
your great work alone is not
(usually) enough. People have
got to know about you and
your great work. They have got
to meet you, see you. If you
want people to talk about the
wonderful things you do, then
you must give them the
opportunity to experience you.
This means attending
networking meetings (both
social and professional) and
getting involved in external
organizations in your field. But
do not limit your involvement
only to organizations in your
direct field. Some of the best
contacts may come from quite
unexpected places, but you will
never know unless you get out
there and mix it up.
BrandYou
BrandYou — now more than ever
Personal branding may have been a
cool idea in the '90s when Tom
Peters first wrote the article for Fast
Company. Today, personal branding
is essential. The market place is
crowded and the labour market as
competitive as ever. To make your
mark and rise above the noise, you
need to have a clear idea what
you're all about and what you have
to offer (and to whom). What
makes you different? What do you
have to offer that is demonstrably
different, better, cooler? Dig deep
inside yourself and find out. Once
you have your message down, clear
and concise, make the opportunities
to tell your little piece of the world
what you're all about and how you
can help.
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 KIRTI AGARWAL,
AGARWAL, MHRM 2008-
HR: A Strategic Partner or Strategic
HRM.
What is HRM(Human Resource
Management)?
Management)
HRM is a management function
that recruits, selects, trains, develop
and maintains people for an
organization. Thus it is a holistic
approach towards management of
people working in an organization
who contribute to the achievement
of organizational objectives.
SHRM(Strategic Human Resource
Management): Wright and Mc
Mahan (1992) defined SHRM as ‘the
pattern of planned human resource
deployment and activities intended
to enable the firm to achieve its
goals’.
Thus in simple terms it’s the
organization’s intentions or plans
of achieving the goal or objective of
an organization through its people
2008- 2010
i.e it is concerned with those issues
and practices relating to the people
(Human Resource) that affect or
are affected by the strategic plan of
the organization.
How is HR a strategic partner?
partner
HRM proponents and executives
have empathized over the years that
HR acts as a strategic partner to the
organization. But questions like
how is it a strategic partner? How is
it measured? often intrigue the
students as well the organizations
alike. Many firms believe or have
the notion that good human
resource management practices
helps in building the “core
competencies” of the organization
which in long run acts as a
competitive advantage but they
struggle to identify and quantify
the effects of these practices on the
strategic initiatives of the firms.
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To resolve such problems and
answer the above questions several
organizations have adopted various
measures such as:-
1. Deloitte developed the
Human Capital Management
Value man (HCMVM
HCMVM)
HCMVM to
demonstrate the contribution
of HR initiatives towards
shareholders value and helps
management prioritize and
align their HR investments
with company’s overall
strategic objective.
Some firms use Cash Flow per
Employee (CFPE
CFPE),
CFPE instead of
profits as a measure
of firm’s success because it
directs the attention of the
management to HR of the firm
and its strategic role.
Cash flow per employee =>(Cash
flow / number of employees) /
(total investment / number of
employees) = (Cash flow /
capital invested)
CFPE shows the average
contribution an employee has to
make in relation invested by the
shareholders.
2. HR scorecard : HR audit in
conducted, it assess HR
competencies, culture,
business linkage and assigns a
score to each of these.
3. Benchmarking:
Benchmarking In this
method comparison is made
on basis of selected HR
performances indicators of
organizations in the same
industry so that the firm
knows how well its HR
practices compare with the
“best” practices in other
successful organizations.
4.Business
4.Business Excellence Model
(BEM):
(BEM) In this method all the
areas for business success are
covered which serves as a blue
print for total organization’s
performance. It is adopted by the
Tatas and is named as Tata
Business Excellence Model
(TBEM).
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 practices of another firm but it
cannot imitate an employee’s
Thus we can say that HR acts as a
sense of belongingness and
strategic partner of a firm in
his/her commitment and loyalty
attaining competitive advantage
towards an organization.
because a firm can adopt a new
technology available in the
market, can imitate the work-life

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 You win some you lose some.......

Merely a factor, you can’t say

Facets so many, you cannot essay;

Dynamic and turbulent you got to admit,

to its trivialities you sometimes have to submit;

Vital so much that you dare not ignore, BIKRAM SARKAR, MHRM 2008 2010

Yet Byzantine so much you hate to explore;

Managing it is an art that deserves to be studied,

It has to be understood, observed and examined;

Controlling it is a science that requires finesse,

With perseverance and patience develops expertise;

‘Human’ is the element that bodies this rhyme,

In dealing with it, you win some and you lose some, every time....

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 मन के सपने

आज मन म सजे ह कछ
ु सपने I

जो ह अब हमारे अपने II

यह सपने ह सब ने मल के दे खे I

अब सबने मल कर इसे हककत बनाना ह II

जीवन के हर नु कर पर कोई "छपी कहानी ह I

उसी के नाम अब यह जवानी ह II

कभी सरज
ू क तपती धप
ु , तो कभी 'हमालय क ठं डी छाओं I

इसी का नाम तो जीवन कहानी ह II

या ह हम म अनोखा ,यह बात, से नह- I

हमारे कम. से 'दखाना ह II

आज हमारा आघाज़ नया ह I

कछ
ु होसल, के साथ आगे जाना ह II

अंजाम का डर नह- हमे I

य,क खदा
ु भी अब अपना द-वाना ह II Ks..

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 THE NEW AGE MBA

BIKRAM SARKAR, MHRM 2008-

2008-2010

20
 YESTERDAY..ONCE MORE..

SRIMOYEE RAY, MHRM 2008-

2008-2010

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The MHRM department campus is a mix of technology & harmonious
academic environment at its best. Class rooms equipped with A/V facilities,
WI-FI all round, cooperative and highly qualified faculty members, well
stocked library and all other facilities needed for a proper academic
environment. The campus is always abuzz with life, academic and co-curricular
activities that take place regularly under supervision of the distinguished
faculty members.

This year has been a memorable one in terms of the events that have taken
place. July was marked off by a splendid welcome to the 2008-10 batch of
MHRM department where the new entrants introduced themselves to their
seniors and the faculty members and got acquainted with them. This was
followed by a fresher’s party for the 2008-10 batch in August, where different

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games and events were designed to break the ice between the seniors and the
juniors followed by a gala lunch for the entire MHRM department. September
marked onset of placement trips to the different zones – north, south, east &
west, to leverage the placement of the students of the MHRM department.

November bought the first industrial visit for the 2008-10 batch. The
destination was Ishapore Rifle factory located at North 24 Parganas (under
Barrackpore Subdivision) within the state West Bengal. The visit enabled the
students to get up close with the workings of a real factory and understand its
underpinnings and working mechanism. Also beneficial was the seminar
conducted on the venue to familiarize the students with the functioning of
the labour unions at the factory. Various issues related to labour laws;
industrial disputes and trade unionism were discussed therein.

December was a landmark in the event book. The annual HR summit held by
the MHRM department GENESIS 2008 took place in this month. The topic
was “Organizational Flexibility: A Competitive Advantage”. The panel
discussion was followed by management games in which business schools from
all over India like the IIM C, IIM L,MDI, XIMB, XIME, Nirma, Welingkar,
NMIMS had participated with equal zest and enthusiasm. The whole
experience gave the students of the department a chance to interact with the
students of the other B-schools and exercise their management acumen.
GENESIS was followed by CONFAB the alumni meet, where alumni were
given a scope to share their experiences with the current batches.

For feedbacks and suggestions, please mail us at:

emagine.mhrm@gmail.com

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