Forget the Internet of Things: Here Comes the Internet of Cars

What if large groups of people could go beyond ridesharing – replacing traditional car ownership altogether through on-demand access to the cars they want: a convertible in the summer, an SUV for winter ski trips?
What if driving skills could be computed as a score that warned us of bad drivers nearby – real time, on the road – also enabling navigation systems to offer safer alternative routes? Imagine if we could get rid of traffic jams and accidents altogether. Or how about if our cars picked up our groceries on their own – and dropped us off at the airport like a self-contained limo service?
What if automakers could subsidize our car purchases by working with telecommunications and other companies that want to capitalize on the lifetime revenue opportunity of a connected driver? Consider also the possibilities for insurance providers to charge higher premiums (for those who drive their cars themselves), or for local governments to monitor personal CO2 usage (in exchange for not taxing or tolling public roads).
Whether you embrace or object to these scenarios, they’re not too far away. This isn’t just an evolution of technology-enabled, connected vehicles. This goes beyond self-driving cars. And it’s more than a simple sensor-network: This is the era of smart mobility — an Internet of Cars.

Basically, cars have become the “ultimate mobile device” and we, the people, are becoming “connected drivers”. These aren’t just buzzwords: As a longtime strategic adviser and analyst of this space, I’ve been using these terms since 1998 to describe this fundamental transformation of the automobile. And it’s coming within this decade. For example, by 2016, most buyers in mature automotive markets (U.S., Western Europe) will consider vehicles’ ability to access web-based information a key criterion when purchasing an automobile. For premium vehicle brand buyers, this tipping point will be reached even sooner: 2014. That’s just one year away.
The connected vehicle is leading the automotive industry to its most significant innovation phase … since the creation of the automobile itself.


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If I wasn't at Facebook I'd be at Microsoft: Zuckerberg

Facebook founder Mark Zuckerberg has said that if the social networking website had not worked out he would have probably landed at Microsoft.

"I probably would have taken an engineering job...(and) always had a lot of respect for Microsoft," he told Paul Graham, a co-founder of the tech venture capital fun Y Combinator, during a 45-minute interview before an audience of 1,700 at Stanford's Memorial Hall.

"A lot of people from Harvard went to work there," the 28-year-old added.

The social networking mogul opened up about his startup experience and opined on the problems with entrepreneurs these days, at the annual conference for entrepreneurs and computer hackers at Stanford University held on Saturday, the Daily Mail reported.

Though Facebook's lagging stock performance has been the topic of discussion, Zuckerberg instead shared tales of his early years at Harvard, his path to becoming one of the most powerful figures in Silicon Valley and even imagined what he would have done if things had turned out differently.

Even though Facebook is one of the most visited pages on the web, employs nearly 4,000 people and boasts 1 billion users worldwide, the founder divulged that he most likely would have made his way to Seattle if his idea had flopped.

Zuckerberg provided his account of his school days and was the first to admit he wasn't the model student.

Contrary to what one might expect, Zuckerberg was actually a psychology major at the Ivy League university and enjoyed the study of classical languages instead of computer science or business.

But despite his best intentions, he rarely attended class and instead spent his time computer programming.

"My life is a long history of people thinking I would drop out of school long before I did," Zuckerberg told the audience.

He said his parents came to the realisation pretty early on that though he enrolled at Harvard in 2002, he was unlikely to stay put, much like the story of Microsoft founder Bill Gates, who dropped out of Harvard in 1975 to start the computer company.

"I started building Facebook because I wanted it at college, which is one of the ironies, since I then left college," he said.

As Zuckerberg worked away at the idea for a revolutionary social network in college, the website grew in popularity but in retrospect Zuckerberg said the pace was actually slow compared to today's standards.

"Facebook did grow quickly but it took a year for us to get a million users," he said.

He also admitted that even he wasn't sure that Facebook would be his golden ticket.

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Corporate India facing challenge to find right talent: Report

Indian employers have trouble finding the right candidate for the right job and this trend is likely to intensify in the next three years, says HR service provider Randstad.

According to Randstad India's global Workmonitor Survey 2012, Indian employers have trouble finding highly qualified people and this trend is set to continue for the next three years, as the economy is showing signs of reforms.

"Corporate India is facing challenges to find the right talent and there is no denial about it. With the economy showing signs of growth, coupled with proactive reforms, the situation will accentuate further," Randstad India Managing Director and CEO E Balaji said.

The quarterly review that tracks jobseekers confidence and provides a comprehensive understanding of job market, shows that 65 percent respondents predict a challenge to find highly qualified people in their respective organisations, much higher than the world average of 48 percent.

In addition, amongst all the countries surveyed, India has the highest employee mobility index of 142.
This is in line with the findings that emerged in all the previous nine quarterly surveys conducted since first quarter of 2010.

This consistent trend over nine surveys confirms that the war for talent continues to be a major challenge for organisations in India, the report said.

Hong Kong and Malaysia follow India with indices of 137 and 135, respectively. The mobility index is least in Luxemburg, Belgium and Germany, indicating least employee churn, while the index for the US and UK is 104, implying moderate employee churn.

"If businesses have to shape their world of work with the right talent, they have to strengthen their Training and Development function. It is a good development to note that Indian businesses are working on this aspect as our survey shows," Balaji added.

As per the survey, about 75 percent of the respondents agreed that their organisation invests additionally for their training/ education.

Moreover, about 77 percent of surveyed respondents said that their organisation offers sufficient career opportunities.

The survey further said in India, more than half of employees (55 percent) are overqualified and one-third are under-qualified for their current jobs.

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Best Buy Likes - Business Insight

BestBuyLikes is part of a large social media SEO network who’s goal is to increase any companies online exposure by delivering real results.  We increase your online exposure by delivering REAL results by directing REAL social media users to like your Facebook page, follow your Twitter account, view you YouTube videos, +1 you on Google, and RePin you on Pinterest. Our services come with a Money Back Guarantee.
While you can buy facebook likes from our company, you can also buy real twitter followers, buy real youtube views, buy real google plus ones, and buy web traffic and one way backlinks.
Our teams mission is to deliver premium services in every aspect of business.  If you buy facebook likes and fans from us, you are going to get REAL people directed to like your facebook fan page.  Try BestBuyLikes today and watch your facebook like counter skyrocket. You have nothing to loose, and thousands of followers to gain!

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Entrepreneurship - Pavneet Sareen

In simple words, an entrepreneur is a person who owns a business enterprise or an idea for a business venture. An entrepreneur is the person who undertakes risk to start a business. He/she either faces the brunt of losses or enjoys the profits. Every decision of the business is taken by the entrepreneur. Between the capital and the labor, the entrepreneur plays the middleman. Each entrepreneur has a respective grade of taking risks to strike an opportunity.

Some of the most general characteristics of entrepreneur are :
 

. Spontaneity on decisions
. Adequate knowledge of the market
. Reach on resources
. Ability to use resources
. Adherence to society norms
. Intelligence
. Profit distribution
. Risk Estimation
. Leadership Qualities

 "WITHOUT A PROBLEM , THERE IS NO SOLUTION "

 Being an entrepreneur beats working the 9-5, you don’t have to sit in one office trying to please another man and you are not restricted to one location, you can work where you want. You also have your freedom of speech and you can say whatever comes to your mouth. In fact, as an entrepreneur you can go on doing crazy things.

"WHY SHOULD YOU BE AN ENTREPRENEUR?"

 Being an entrepreneur can be one of the best decisions you will ever take in life but you don’t just jump into things without knowing why, this post will be listing 10 reasons why you should be an entrepreneur.

1. Be Your Own Boss.

Nothing can be more frustrating than taking orders from the same person all the time. Even if taking orders is okay, what happens if your life depends on taking orders? Failure to obey your boss can kick you out of your job.

Being an entrepreneur puts and end to this and you don’t have to answer or take orders from any boss anymore, you live your life as it pleases you, you do things as you want.

2. Work at Your Own Schedule.
 

Depending on how and where your business operates, you can even work at night and sleep at day as an entrepreneur, you can decide to live a different way of life – and this is what a 9-5 job will never provide.

3. No Limit to Your Progress.

As far as working under someone is concerned, there is a limit to what you can be. You can never exceed your boss. Being an entrepreneur helps you overcome this limitation and whether you want to be a CEO or a sales representative, it is yours to decide.

4. Determine Your Location.

Have you ever thought about working where you want? This might still be strange to you if you work a 9-5 job but one great advantage of being an entrepreneur is that you are able to determine your location. As an entrepreneur you can determine if you want to work in Africa or America but when working 9-5 you have no choice than to work in the constraint of your office.

5. Vacate When You Want.

Being an entrepreneur also affords you the ability to vacate when you want which a 9-5 job can’t afford. You can easily decide if you want to be at home every Thursday and Friday of the week but a 9-5 job will never afford you that.


6. Determine Whom You Work With.

As an entrepreneur your business is yours and you can determine if you want to work with friends and relatives or any other person, this a 9-5 job can never afford. If you are working a 9-5 job, it doesn’t matter if your greatest enemy is your colleague, you just have to work together.


7. Unlimited Earnings Potential.

There is a limit to what you can earn while working your 9-5 job, it doesn’t matter if your company doubled its income that month you will still be paid the same amount you are supposed to be paid but as an entrepreneur, since you own your business there is no limit to what you can earn, all you need to do is be very creative and look for various ways to improve your income.

8. Freedom of Speech.

If I ask you if you have freedom of speech I am sure you will come up with a resounding YES! If you are working a 9-5 job I can assure you this is not true, you have no freedom of speech!

When working a 9-5 job you can’t just talk to your boss anyhow because talking to your boss anyhow can lead to you being fired (Go call your boss a jerk if you don’t believe this!) but as an entrepreneur it doesn’t matter if you are talking to the CEO of one big company or a 12-year-old boy you still have right to the same words, you are simply not afraid of anybody.

9. Automate Your Income.

Another great advantage of being an entrepreneur is the ability to automate your income. You can easily employ people to help you manage your business while you tour the world but this isn’t possible in your usual 9-5 job, trying to do is you signing your sack letter.

Also, as an entrepreneur your income is not affected by how you work, you can determine if you want to be paid whether you work or not, you can also determine of you want to create your automatic income machine but this is not possible in your regular day job, you have to follow the working guidelines put together by your boss, failure to do this might result in something else.

10. Passive Income and knowledge Stream.

You can decide to spread yourself into as many businesses as you want when working as an entrepreneur but your 9-5 job won’t allow this, you have to be in the office every time, and not only in the office but also doing the things of the office.

One great advantage entrepreneurs have is that they can create passive income streams and also improve their knowledge in so many ways. You can decide to have a big company under your belt while at the same time doing some other business, you are not restricted by anything.

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Entrepreneurship is about ideas: Lord Meghnad Desai

BITS, Pilani K. K. Birla - Goa Campus witnessed an interactive session with the world renowned economist, author and British Labor Life Peer- Lord Meghnad Desai.

His intense session turned out to be really superb. Let's have a look at Lord Meghnad Desai's interview conducted by the campus's very own Department of Journalism and Media Affairs!

This interview is a part of their latest BITS Herald Summer Issue which can be viewed at: http://www.scribd.com/doc/96737622/BITS-Herald-Summer-Issue-12

Q: What was your inspiration and prime motive behind join­ing the Labour Party?

A: Well, I was always for the Left wing view and the so­cialist view of 'changing the world for the better'. I wanted to improve the living conditions of ordinary people and try and provide for employment, low poverty, better welfare state and such social and democratic ideals. Even though I am much more pro-capitalist now, I still think those are good things to go for. But, it has to be done differently.

Q: BITS-Pilani has a unique dual degree system, wherein students pursue a Pure Science degree along with an Engineering degree. From the point of view of an Economics scholar, how valued is the one year where the Economics dualities students study pure Economics subjects?

A: It's very difficult to answer that question. It depends on what the individual wants to do. Probably, one year in a joint degree system is enough to earn an Economics degree. But to know how academics judge it, we need to know what the individual plans to do. One year spent in Economics would not allow you to do a gradu­ate course in Economics. Two years might be required. But, then again it depends on what you learn and how much you learn.


Q: We have a club called CEL, which stands for 'Centre for Entrepreneurial Leadership', which promotes Entrepreneurship. As of now, the world seems to be pro-social Entrepreneurship. Would you say it is a fad?

A: It will just come and go. Eventually, entrepreneurship is entrepreneurship and it means finding a gap in the market and filling it. Facebook is an entrepreneurial activity. Nobody knew there was a gap. But, it provided that gap. Entrepreneurship is about ideas. It is a mental activity with risk-taking. Paradoxically, al­though there is a lot more capitalism, people are shy to speak positively about it. They don't want to mention profit-making is a good thing. So they talk about social entrepreneurship.

Q: How do you feel that the research and academia scene in India has changed from your time?

A: There is much more research into academia now. But I feel far too much research is government-spon­sored. There aren't enough private-research foundations or funding, that are enough to sustain really good critical work. I feel most of the research centres are concentrated in Delhi, due to this reason.

Interview by Department of Journalism and Media Affairs, BITS, Pilani K. K. Birla - Goa Campus and submitted by Chintan Zalani

-Team CoolAge 

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Microsoft sends out invites for a October 25 Windows 8 launch event in New York

As suspected, Microsoft has sent out invites to the press for a October 25 Windows 8 launch event in New York. Previously, the company had confirmed that the public release of Windows 8 will happen on October 26. Apart from this, the company also confirmed that the Windows RT powered variant of the Surface tablet will launch simultaneously with the release of Windows 8.
At the moment Microsoft is being quite cryptic about the exact location of the event in New York, but we will know that soon enough. Besides Windows 8, Microsoft is also scheduled to launch the new version of Windows Server and Windows Phone 8.
Nokia has already unveiled its Lumia 920 and Lumia 820 smartphones, alongside this Samsung unveiled the Ativ S Windows Phone 8 smartphone. HTC is also expected to showcase its Windows Phone 8 line up on September 19. All this comes after Windows Phone 8 hit RTM on Friday and we can be reassured, that the launch event for Windows 8 and the Surface RT tablet will also include something related to Windows Phone 8.
The October 25 event will also be soon followed up with Microsoft’s ‘Build’ developer conference which will take place at the Microsoft campus in Redmond.

-Sahil 'Bones' Gupta

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Amul, Grameen & The Case For Social Business

AMUL is the story of modern India and also of one great man who

embraced nationalism and the Gandhi spirit of ‘jobs to feed many

mouths’ . Verghese Kurien, during his illustrious career spanning

over 50 yrs was better known as , ‘the Milk man of India’, ‘ Father
of the white revolution’, ‘ The Technocrat Farmer ‘ , Visionary leader
behind Operation Flood, and so on . A little known fledgling milk
producer in the rural countryside of Gujarat in 1946 was the Kaira
Co operative milk union , an initiative of Sardar Patel. Verghese
Kurien then a US qualified Dairy Engineer , ambitious at 27 , stayed
back reluctantly though at the request of the local entrepreneur
Tribuvandas Patel who wanted to set up a processing plant .
Nationalist spirit prevailed over this young man and he went on to
script the story of the most respected family brand in the country .
AMUL, Anand Milk Union Limited was baptized in 1955 and Nehru
the PM, embraced the diminutive Kurien at the inaugural. The rest is
history. The Gandhian ideal of self reliance found it’s epitome in the
Green revolution and more emphatically the thumping success of the
White revolution, a brainchild of Dr Kurien.

India needed to build a mass base for it’s industry and agriculture to
fulfill the dream of employment for all . Early industries were limited

to Textiles , Paper & Printing , Fishing , besides Agri based cottage
industries . The Co operative movement was to set the bulwark for
employment generation with the labour as partner. Against this
backdrop came the Dairy development that took roots in Gujarat.
When Dr Kurien took over the responsibility of infusing new growth
initiatives there were only two milk unions totaling a few hundred
farmers, but when he left in 2006 ,the movement had spread all over
India and had over 10 million shakeholder farmers, distributors,

retailers, etc. There is a Women’s only enterprise led by the social

activist Ms Ela Bhat encouraging women entrepreneurs . SEWA’s

contribution to Amul consists of 50 women’s unions.

The challenge was to keep the Co- operative spirit as the basic concept
and not undo it , for the farmer was the basic focus then and now.
When the co operative federations and structure is today under threat
of being dismantled, AMUL stands testimony to a commitment that
stood the test of time . Hats off to Dr Kurien’s strong leadership and
shrewd business sense that prevailed over the tumultuous consumer
business in modern India. His social commitment and competency won
many a case for political interference . Can our business leaders today
think of making success of real labour intensive business ventures or go
for lean, mean private entities that make the capitalist wealthier and
leaves the man at the grassroots holding on to his empty plate . The
stalwarts of the Independence era who’d upheld the grand idea of
a self reliant nation with food for all & means to employment have
found recourse in TVs and mobile phones and not toilets or access
to cooking fuel. Is the motto of Garibi Hatao & jobs to feed more
mouths become just a passing fad . Was Amul Kurien the last man
standing, leaving a legacy of ensuring business with purposeful growth

thro’ mass movements & by truly holding hands with the rural poor .

Professor Mohamad Younis of Bangladesh is another luminary in
the social business of micro finance. What started in 1976 in a small
village next to the Chittagong University , has today grown into a
nationwide banking success , where the stakeholder is the borrower
himself. It deals in a $ 1.5 billion annual turnover extending credit
to over 8 million borrowers . Micro credit as a means to empower
and eradicate poverty has seen 80% of the rural poor in Bangladesh
enlisted so far and being self productive . 90% of the bank’s clientele
is women since according to Prof Yunus they are more reliable. Prof
Yunus is a recipient of the Nobel Peace Prize 2006. President Obama
conferred a special recognition to honour this Banker to the Poor in
2009.

But the latest in the future of this social business leaves ominous signs.

The Govt of Bangladesh has very recently amended the statute of
the bank and brought it under the Government’s direct control.
This has not been acceptable to the Grameen Foundation that has
extended the model in other initiatives . The poor families that were
shareholders would be left stripped of their rights to ownership .
The government’s most recent action not only threatens the bank’s
independence, which has been crucial to its success, it challenges the
ownership rights of millions of poor women who control 97 percent of
the shares of the Grameen Bank and whose collective savings (about
$1.4 billion) finances its operations. It is a powerful blow against an
institution that has flourished and helped millions of poor people
largely because it is in the hands of women, said one report .

Yes, success has it’s many critics and politics can play dirty . The
model of working of the Grameen bank should be left to itself and not
be usurped . This is the raison de etre behind the partnership with
the poor in the third world countries. Incidentally the concept is being
introduced outside Bangladesh in nations like China, Taiwan and
others . May the grand vision and hard work of luminaries like Prof
Yunus , Dr Kurien and others be the breeding ground for emancipation,
education and eradication of poverty across the world.

-Bijoy Joseph

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Official - Mercedes Benz B-Class to be launched in India on 18 September 2012

The all-new sports tourer is expected to occupy the Rs 25 lakh price bracket.

Come September 18, Mercedes Benz will officially launch its all-new 2012 Mercedes Benz B-Class in the Indian market, which was first unveiled in July 2012 at the Buddh International Circuit and a day later at Mumbai's Hard Rock Cafe. 

The company describes the B-Class as a compact sports tourer, which is actually a big hatchback with decent space and ground clearance. Initially, the model will be imported into India as CBU, but will be later assembled in the countr, starting from 2013. The Mercedes Benz B-Class will be initially offered only with a petrol engine, while its diesel counterpart will follow suit in the coming months.

The German automaker who is currently struggling in the numbers game and rank third in sales volume behind BMW and Audi is missing a volume building car below their executive sedan to go against the compact crossovers like the Audi Q3 and the BMW X1. Now though, the Mercedes Benz B-Class is not a compact crossover and will not compete with its German rivals on the form factor, the upcoming model is expected to fill in the void and occupy the Rs 25 lakh price bracket. 

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6 Tips for Running a Layaway Program

With the holiday shopping season fast approaching, and the recent news of major realitors such as Toys R Us and Walmart retooling their layaway programs, many smaller merchants I've talked to are considering adding a layaway option.

A layaway program has the potential to build brand loyalty and drive repeat traffic to your retail business. First, decide if offering a layaway program will work for your business. To answer that question, look at your business model and determine what (such as value proposition, channels, revenue streams and cost structure) will need to change in order to run an effective layaway program.

Related: The Holidays' Most Unique Big Business Social Media Campaigns

If you determine that it might increase business, here are six tips to help you successfully create a layaway program:

1. Create a layaway agreement. Everything about your layaway program should be clearly spelled out in a document that your customer agrees and signs. Terms and conditions should include: minimum price for items, payment options, deposit amount required, service fee, policy on cancellations and refunds, lowest price guarantee, items not eligible for layaway, and final payment due date. 

2. Start now. The sooner you start your layaway program, the more people will know about it, participate in it, and potentially tell others about it via on and offline word of mouth.

3. Promote the heck out of it. This should go without saying, but you need to inventory all of your customer touch points to determine the best way to use each one to promote your layaway program. For instance, if you re-purpose last year’s print advertisements or in-store holiday signage, don’t forget to add something about this year’s layaway program. If you’re active on social networks such as Twitter, Facebook and Pinterest, promote the program there as well.

4. Fine-tune your inventory levels. Forecasting this year’s holiday inventory means taking into account your new layaway program. If your terms and conditions state layaways are only available on items that cost $250 or more, then be prepared to order excess inventory of your higher priced items. Better yet, see if you can secure commitments from your vendors to drop ship products on your behalf for layaway fulfillment.

Related: 7 Retail Disaster Zones Every Storeowner Should Avoid

5. Make room. Speaking of inventory, if it’s not in stock, you can’t sell it. If you’re used to turning your inventory once every 30 days, you’ll need to make adjustments for those items that you’ll hold onto for a longer period of time, guaranteeing they’ll be available in early- to mid-December. You may also need to locate more space in order to carry some inventory longer than you’re used to.

Related: 7 Low-Cost Design Ideas for Small Retail Spaces

6. Don’t forget about online. According to the U.S. Commerce Department, online retail sales totaled $194.3 billion in 2011, which means layaway is just as applicable online as it is at a brick and mortar stores. One startup, Tallahassee, Fla.-based eLayaway, has even developed a turnkey system for managing online layaway using your existing website and ecommerce platform.
When consumers want to save money, they tend to make what they feel are smart purchases, and by offering a layaway option, you make it easier for them to justify their holiday gift-buying.

Mikal E. Belicove is a market positioning, social media, and management consultant specializing in website usability and business blogging. His latest book, The Complete Idiot’s Guide to Facebook, is now available at bookstores. For more information, visit MikalBelicove.com.

Originally posted by Entrepreneur. Published for sharing information.

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From an ‘eating house' to the ‘Taj at Apollo Bunder'

Born in the wake of the 1898 plague, the Taj Mahal Palace hotel in Mumbai has stood a silent witness to history for over a hundred years.

Its towering 240-feet-high dome has seen countless tales of resilience, symbolising the indomitable spirit of the city — the bubonic plague, birth of a free nation at the stroke of midnight on August 15, 1947, the turn of the century, and the nightmare of what is now called “26/11” — when the city and the hotel were held hostage by 10 gunmen.

Myriad stories find their way into the pages of the history of this iconic hotel, captured in a coffee-table book The Taj at Apollo Bunder, by historians Charles Allen and Sharada Dwivedi. Late on Friday evening though, the hotel's dome looked down on a select gathering at the Taj hotel's open-air terrace, where Mr Ratan Tata, Chairman of the Tata Group, unveiled the book, along with Mr R.K. Krishna Kumar, Director Tata Sons, and Mr Raymond Bickson, Managing Director and Chief Executive, Indian Hotels Company Ltd.

SELFLESS SPIRIT

“The Taj, despite its majestic being, could never be what it has turned out to be without that spirit, without the selfless spirit, embodied in the staff and the management.

“They stood by, at great risk to themselves and in some cases at the cost of their lives, to protect the people who were here.

“And that became the symbol of the strength of Mumbai, the strength of the city. Those who witnessed the carnage of 26/11 were also witness to the spirit of the Taj and its people. That we did get mauled but did not fall,” Mr Tata told the audience.

While excerpts of the book were read out by different personalities, including author William Dalrymple, film actress Juhi Chawla recounted how her mother had worked with the Taj for 20 years, and how she too aspired to work in the hotel some day!

International film-maker Shekhar Kapur recollected how he had come to the hotel with his uncle, the evergreen romantic and actor — the late Dev Anand.

The Taj hotel also hosted “the biggest party” after Kapur's international filmElizabeth, and his Bombay Dreams film party — made musically memorable as well, with A. R. Rahman and Andrew Lloyd Webber jamming on the piano for more than an hour, he said.

The “inadvertent” mistake that resulted in the back of the hotel being the sea-facing view, and other such anecdotes, were read out. One such story is that, when Jamshetji Nusserwanji Tata decided to build the Taj Mahal Palace Hotel on a 10,000-square-yard piece of land in 1893, his sisters objected.

“You are building an institute of science in Bangalore, a great iron and steel factory and a hydro-electric project — and now you tell us you are going to put up a bhatarkhana (eating house)!,” one of them said!

But the Taj Mahal Palace did open its doors on December 16, 1903.

On its first day, it hosted 17 guests, at Rs 20 for a normal room and Rs 30 for rooms with additional comforts, like fans and attached bathrooms.

The hotel went on to host Maharajas, freedom-fighters and international celebrities, including Gregory Peck and the Beatles.

niveditag@thehindu.co.in

jyothi@thehindu.co.in

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Plastic parts covered by insurance

I have taken Rs 10 lakh as a home loan. My monthly EMI is Rs 13,543. Apart from Rs 1 lakh deduction for savings, what are the tax benefits that I can get on the home loan.
You can avail a deduction of the principal amount under Section 80C up to a maximum limit of Rs 1 lakh. Apart from this, under section 24 for the interest on loan to the extent of Rs 1.5 lakh, if the property is self-occupied. If the property is let out, you can claim whole of the interest payable against the rental income. The deduction under Section 80C can be claimed up to Rs 1 lakh in aggregate with other investments like life insurance premium, contribution to Provident Fund, etc.

My car met with an accident due to which front bumper and front mirror need to be changed. The insurance firm refused to provide any compensation as plastic parts and mirror are not covered. Is this true?
Please file a claims officially. To the best of our knowledge, the insurance company should pay you for the claim. If the company refuses, you should lodge a complaint on the official website of the company. In case, you are not satisfied with the response, you can approach IRDA at www.igms.irda.gov.in or the insurance ombudsman at www.irda.gov .in/ADMINCMS/cms/NormalData_Layout.aspx?page=PageNo234&mid=7.2

I want to take around Rs 10 lakh on health insurance family floater for my wife, my parents and me. No health insurance firm is willing to provide cover which is higher than Rs 3 lakh. My only option is to take multiple policies. Please guide me.
We suggest you take separate individual policies for your parents as possibilities of claims increase with age. We would suggest you to go for individual policies even for yourself and your spouse. This will ensure continuity of policy for your spouse if something should happen to you, and you are not affected by each other’s claims. You can take a sum assured of Rs 3 lakh from on individual policies and then go for a top up policy, with a sum assured of Rs 5 lakh to Rs 7 lakh with a deductible of Rs 3 lakh. This will provide you with high overall family cover with individual flexibility and costs will be comparable to what you will pay on a family floater of Rs 10 lakh. Family floater or individual policies of higher amounts are available from Apollo Munich and Max Bupa. Apollo Munich also offers top up plans.

• By Harsh Roongta

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India Outsources

Outsourced. You might have seen the movie. You might have watched the TV show. You might be a U.S survivor in a company that outsourced, or maybe you didn’t survive. You might have a family member or friend who was affected by outsourcing. You might have friends or coworkers from India; you know they are great people. If any of these are true for you, you might read with interest the Wall Street Journal blog posting Amol Sharma on “How Obama Will Address Outsourcing in India.”

It won’t surprise U.S. readers that we’ve been sending jobs to India. Many of you can attest to the pain outsourcing causes U.S. employees. Language barriers, widely differing time zones, cultural differences, the need to add huge bureaucracies to manage the work and to ensure it meets quality standards. If your employer outsourced to save money; you might well wonder if it actually did.

This article doesn’t cite any actual savings achieved through outsourcing, though they seem to be assumed. It discusses broader benefits to the U.S. economy from our trade relationship with India. Sharma cites a transcript of some remarks by Mr. Froman, who is deputy U.S. national security advisor for international economic affairs: “With 1.2 billion people and an economy…expected to grow at 8 percent a year for the next several years, we really see India as a potentially very important market for U.S. exports.” Apparently, Indian companies are hiring in the U.S. as well, and they are fast growing investors.

President Obama, who has not supported a tax code that favors outsourcing, has an upcoming trip to India. How will he handle the issue of outsourcing? Sharma suggests that it would difficult to stop or reduce outsourcing; a better approach is to make a case to Americans that this economic relationship can benefit the U.S. as well.

You’ll be glad to hear we may be getting something back from outsourcing. If you have friends or coworkers were from India, you may have heard first hand how outsourcing had improved their lives. How can we say they should continue to live in poverty when they had the skills and work ethic to climb out of it? But, you also knew the pain of U.S. workers who lived in anxiety over losing their jobs. You may have lost your job yourself, or you may be expecting to lose it any day.

Overall, it’s not easy to say outsourcing is good or evil. One thing is certain; for U.S. workers, it is painful.

Page Coleman

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Retail: The Big And The Small

Gone are those days when the Indian middle class was intimidated by supermarkets, departmental stores and mega marts. Supermarkets are no longer stereotyped as the ‘big, expensive stores’ in malls and posh areas where the rich shop, strutting around with their baskets and trolleys and where one cannot complain about the stones in the grain or negotiate the price. The common man now confidently walks into his nearest Big Apple, Reliance Fresh, Subhiksha, Food Bazaar etc. (an endless list…) for his daily grocery shopping, makes sure he avails every discount offer and walks out feeling happy and content. The emergence of the organized retail sector in India and its encroachment on the so-called prerogative of the local ‘kiranas’ has contributed greatly to the spurt in the rate of growth of the Indian retail sector.
 Organized retail is expected to form 10 per cent of total retailing by the end of this decade. Hypermarket is emerging as the most favorable format for the time being in India, which is getting a further push with the coming of multinationals. The question to be asked is whether this boom is necessarily a good thing. To answer this particular question, we must analyze the repercussions of the coming of organized retail in the form of supermarkets and hypermarkets.
Small traders and local banias definitely seem to be losing out on their business. The Indian customer, who earlier shared a one-to-one relationship with the local grocer and went from store to store for different items, now prefers the more organized form of shopping along with the convenience of finding everything under the same roof. The 40 million people employed in the unorganized retail sector certainly face a threat, particularly the illiterate and the old who cannot expect to find jobs in the ‘modern’ retail stores. Nevetheless, many ‘kiranas’ continue to survive as they retain tradition of credit.
The supply chain, on the other hand, seems to be undergoing a reformation under the present scenario. Poor farmers who have been deceived and cheated by middlemen for decades are now looking at interactions directly with big companies. Their economies of scale enable the companies to provide better facilities in terms of transportation and storage and the elimination of intermediaries ensures higher prices being paid to the farmers. The road ahead seems exciting enough with almost every big name in business announcing a retail venture.
The issue, however, still remains an open-ended one. Will the organized sector generate gains enough to compensate those who are losing out is a question which will be answered only in the times to come.
Vatsala Tibrewala

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Business Casual On Budget

So the dress code at your new job is “business casual” and you’re thinking, “What the …?” Don’t fret, at least not about your wardrobe. Business casual is less straightforward than a suit and tie, but it’s not rocket science. And if you’re smart about it, you can look as sharp as the next guy for a whole lot less.
Whilst it depends on the kind of office in which you work, business casual typically means crisp, professional and sober. “You don’t need a tie, per se, but we’re not talking about tracksuit bottoms. Think of the overall look and make the pieces work together”, says Khurshid Begum, creative director for Modern Culture at Oved Apparel and a fashion industry veteran who’s worked for Donna Karan, Calvin Klein and Giorgio Armani. Here’s how to do it:
Step No. 1: See What You Have
Everyone owns jeans and if you don’t have a pair of dark, fitted denim, you should. If you work in a more creative environment, the same goes for a pair of simple black sneakers in either canvas or leather, like Converse Jack Purcells or Adidas Stan Smiths. You probably own a few long-sleeve button-up shirts and a pair of khaki trousers as well. These are keepers. “The key here is to look polished, but not too formal. That means your things can’t look too worn-in. If you see yellowed armpits or frayed collars, replace the item”, says Begum. For everything else, he says, get them to a dry cleaner. “Get the wrinkles out and show up looking crisp”.
Step No.2: Fill in the Gaps in Your Wardrobe
If you’re on a budget, keep the colours basic; don’t buy orange trousers or green shirts because you’ll be limited in how you can put them together. Stick to blues, greys and beiges and you’ll get more outfits out of the same group of clothes. A good rule of thumb is that you should be able to pair every item you purchase with at least two other items. This is how you build upon your wardrobe rather than just buying more clothes.
Keep the following in mind as essentials: a nice belt, a good pair of leather formal shoes, a few pairs of khakis, a good sport coat and several shirts (a couple of whites, a couple of blues and a couple of stripes to mix it up). Begum also recommends owning half a dozen pairs of dark socks that come up to the calf. “The easiest way to look like an idiot is to show up in a great casual outfit and ruin it with white socks”, he says. If there’s still room in your budget, a couple of jumpers in different styles, whilst not necessary, can be useful extras for cooler temps: a cardigan that can be worn in place of a sport coat or under one if needed, and a crew neck or v-neck or even knitted vest that can be worn in the same way.
Step No. 3: Put It All Together
You can wear a blue shirt and khakis twice in a week, but change it up the second time, maybe with a navy knit tie (another good extra if you have the budget). If you go with the tie and you’re in the right work environment, you could also wear the aforementioned sneakers that day to balance out the look. Get the idea?
Step No. 4: Shop
Smaller shops outlets and online auctions are great if you genuinely enjoy shopping and have a gift for putting things together. If not, contemporary men’s brands like Wills Lifestyle, French Connection or Van Heusen are good for inspiration even if they’re a bit expensive, because practically everything goes together already. Pick up a couple of basic outfits at either of those stores, or use them for ideas before you head to a Shoppers Stop, the mall, or even Sarojini Nagar.
Michael Rovner

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An IT Professional

In a competition driven IT world, the debate of choosing between a ‘Jack of all trades’ or ‘a
Master of one’ would continue forever.

An IT professional having expertise knowledge in a specific domain of work would no doubt score over a novice or an intermediate when the former’s performance is measured only in the particular domain. However when the same novice is able to maintain acceptable but need not outstanding performance standards over multiple work domains, his reputation increases many folds.

The arguments go on and its upto one’s perception to choose between the ‘JACK or and the MASTER’.

A closer look at the scenario would bring to the forefront the fact that the comparison is actually superficial as the two are not on the same playing field. The same master who has won the accolades of his boss, is the motivation of his peers , the toast of his department ….may suddenly find himself lost and misplaced when confronted with a new technology or new domain of work. It is at this point that the jack has his moments.

Being overshadowed by the master for a major part , the tables suddenly turn when the jack and master are both confronted with a new domain. The Jack suddenly turns out to be the dark horse, racing unbelievably fast and in a matter of minutes racing way ahead of the master so much so to the point that the master begins to envy his counterpart.

In a nutshell, the Master can be labelled as a big fish in a single pond whereas the jack may be described as the small fish of multiple ponds. The Jack is the lifeline of the enterprise, he helps building interdepartmental and inter domain connections, creates a measure of adaptation, and adds to the skill set of the organisation a key element- ‘flexibility of work’.

The Master on the other hand is a go-to man, the one who is always there as an expert, the one who can guide and build manpower skills in his particular domain and the one who can fix-up even the largest of errors, and if
necessary even recreate the object.

As we dwelve deep into the two contrasting viewpoints, there is a strong indication that the roles of the master and the jack are not necessarily forging in two different directions. In fact , from the organisational perspective it wouldn’t be wrong if the two are said to be complimentary to each other. After all no enterprise wants to be shallow in its core domain and needs the expertise of the master. At the same point, an enterprise needs diversification of work and needs the inter domain flexibility and adaptability of the jack.

The jack sets up the base platform for the master to discharge his expertise. The master takes up the burden of handling complex technicalities while the jack serves the purpose of integrating the works of various masters. An expert Programmer and an expert Database administrator may be incredibly good in their respective domains, but unless the two are bridged by the jack (who has the elementary and interface knowledge of both) , the benefits cannot be realised by the enterprise.

The Jack keeps striving to know less and less of more and more while the master keeps striving to know more and more of less and less… When the jack begins to expand the depth of his knowledge in one domain, his transformation into a master starts . Similarly when the master starts to expand his horizontal knowledge of multiple domains, he slowly
transforms into a jack.

One may favour any of the two, but the fact that the two are complimentary and interdependent on each other can never be ignored. After all, the master can give away his masterly performance only when the stage is set by the jack and jack without the services of the master may be able to churn out multiple performances, but without the expertise and the skill of the master it will always be toothless.…..

Rohit Singh

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