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The start and the progress

This approach was followed by the below mentioned strategies 1. Transforming multiple standalone operations, into a single virtual call center for maximum efficiency, consistency and control. 2. Reducing the application integration backlog that slows down agents and makes them less productive. 3. roviding unified, universal customer access via telephone, email and internet channels, to open less costly and more convenient interaction channels while preserving !uality and consistency across all channels

". #eveloping and enabling a systematic process to make rapid ad$ustments to service delivery in order to ensure customer service excellence. What the future has in store? Voice Self-Service The contact centre is caught in the centre of the %#emand #elta& the gap between customers& increasing expectations and organi'ation&s ability to deliver service. (oice )elf*)ervice is a communication channel providing opportunities to balance cost control with customer service and to address the issue of demand delta. Types of (oice )elf*)ervice The challenge would be effective implementation of the (oice )elf )ervice because +(R should involve customer preferences without making the system too complex and slow to use while supporting the brand values of the organi'ations. +n terms of guidelines for the implementation of (oice )elf*)ervice the telecom operators would need to, 1. )elect situations where customers make repeat calls 2. +dentify areas where call numbers are large and for a specific purpose 3. ick applications where speed and convenience are particularly important ". -ffer customers the choice of application. +n terms of usability, some key considerations that will have to be kept in mind, 1. )peed of +(R . /0either too slow and nor too fast1 2. ersonality . /2ou&ve got to know it&s not a person1 3. 3all out . rovide the option to %escape& to a live agent ". +ntroduction by an education program

4. Test, test and re*test for usability with customers. Customer experience There are several compelling reasons for improving the customer experience, 1. )trategic, The burgeoning competition and heavy regulation has commoditi'ed the telecom services. +n rapidly commoditi'ing markets, customer experience may be the only way to differentiate the brand and create sustainable competitive advantage. 5oreover, there are evidences galore that consumers are willing to pay a premium for a positive experience. 2. 5arketing, +f an organi'ation can create %raving fans& or %apostles&, it can actually buckle its expenditures on marketing. The word of mouth and referrals by the present customers cause a )now*ball effect leading to an ever magnifying base of customers. 3. 6ustomer retention, 7 customer receiving a better service and warm experience will always have a better retention probability, hence giving better revenues. ". Reduce or eliminate %cost to failure&, The costs resulting from a poorly designed or implemented customer experience can be enormous. 8ven a trivial problem or issue can translate into multitude of calls in a contact centre. 4. 0ew technologies, 0ew technologies such as the +nternet and 6R5, are aiding in improved customer experiences. From agent to expert The agent is becoming increasingly central to the delivery of customer experience within the contact centre. 9owever, with customers becoming more demanding and less satisfied with the contact centre experience, the agent often gets caught in the management of contradictions as they try to balance the demands of the organi'ation :increase efficiency; with the needs of the customer :get service;. 7s we move into the future the call centre agent needs to become more than a transaction processor, adding little value, and move into the role of an advisor and, ultimately, an expert. The #emand #elta trade*off between cost, control and !uality produces three general types of contact centre model and contact centre employees. -ne model has evolved over the other with the passage of time and dynamism of the industry dealing with complexity, delivering value and customer satisfaction. These models are: Mass Production The Agent. +t is based on centrali'ed control, rigorous process definition and employee compliance. 7 mass production contact center&s goal is to maximi'e throughput, deliver uniformity and minimi'e costs. +t is solely driven by productivity based < +s for management of the operation and the goals of the business which often leads to behaviors that are detrimental to the customer experience :such as %call bouncing&; Mass Customization The Advisor. 7 %5ass 6ustomi'ation 5odel& is characteri'ed by high levels of employee autonomy and empowerment. 7gents become advisors. 5ass customi'ed contact centers aim to deliver

effective, high !uality, personali'ed customer experiences using flexible processes, customer knowledge from the 6R5 and knowledge system. 9igh levels of first time resolution and customer satisfaction are the norm. 6osts in this model are not managed through simply counting transactions and volumes of calls but by measuring and eliminating waste :and cost; through the identification of %cost of failure& demand :characteri'ed by measures such as 36R :3irst 6ontact Resolution;. Networked Expert The Expert. =nlike the previous two models, where work is monitored :to different extents; and knowledge is presented to agent at the appropriate moment in the workflow, experts themselves are responsible for maintaining and updating their working practices and knowledge. 8xperts could be anyone in the organi'ation with a particular expertise in a customer, discipline, locale, interaction skill, product or service. These experts do not necessarily reside in a traditional centrali'ed contact centre . but could comprise a mixture of office based, mobile and home based workers. They may work anywhere :and for anyone; but they will have customer !ueries routed to them intelligently, based on their expertise, appropriateness and availability.

Advertising - Its Importance In Marketing


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>ritten by Tanushree ?hattacharya

>ritten ?y ,* Tanushree Bhattacharya 7dvertising is a potent vehicle which includes imagination, creativity, concepts, ideas and innovation to promote new products and remind about changes in the old one. 7dvertising means selling but for this one need a creativity of mind with the work of beauty and art. 7dvertising can be said both powerful and magical. +t sells us dreams and has become fabric by selling life style. >e can find that people of the society have tremendous impact of advertisements. +n today&s fast moving media driven world it plays a vital role in customers& mind and sentiments. )o advertisements reach to them through the route of emotion which is a powerful one in advertising. 7dvertising proves magical by the %power of word%which leaves an image on the mind of the customers. %>ords& not only control the minds but it also changes the view points completely and help the customers to climb the ladder of in!uisitiveness. +f advertising is shown with the combination of words along with something new factor highlighted then it bring a favorable response of the consumers. +n the present market scenario advertising is experiencing a period of rapid economic growth worldwide. @ike many other marketing tools, advertising is among one of them which try to draw the attention of prospective customers and try to !uench their thrust for products and services by presenting them in a favorable manner. +f an

advertising campaign proves effective then it invites more and more customers with greater fre!uency. 7dvertising is one of the parts of %marketing 5ix&. >e have to accept the fact that advertising rely on the heart of marketing strategy which includes public relations, product, packaging, customer service, pricing, promotional programs, word of mouth and channel relationships among other strategies. 7dvertising acts as a guide book which tell us what to buy or not to buy. +t is found that advertising is $ust not only the way to sale products or services but it also ac!uires its own importance by educating and providing knowledge to customers. +t can be said as revenue generator as many media outlets such as television, radio, and newspaper do business due to sale advertising which earns revenue and helps in economic growth worldwide. ?uilding of brand image through advertising is important as brand always lives in the memory and hearts of the customers. 6ompanies and customers can share a strong bond of relationship through branding. romoting public relation is one of the greatest ways to form a brand because it only helps customers to understand a company and its products. To create a good brand and its effectiveness is a long battle although it makes selling easier. +n case of advertising whatever we see may not be reality and if it shows reality it is !uite possible we may not see it. )o one of the oldest and traditional conceptual model for creating any advertising is 7+#7 model, get 7ttention, hold +nterest, arouse #esire and then obtain 7ction. This model conveys that A stands for 7wareness and 7ttention. That means the first task of an advertisement is to make customer aware about a product. I stand for +nterest. +t means when a customer will come to know about a product it will automatically create an interest in the mind of that customer regarding the product. D stands for #esire. The desire to obtain that may be generated in the mind of the customer. 7t last A stands for 7ction which is the final stage and depends on the determination of customer for taking action to buy that product. Through the help of the above model advertising can knock the mind of customers and if it proves effective customers will definitely try the product at least for once in their whole life and if it meet their expectation then it becomes their lifetime product. +n a whole advertising is important for marketing.

The Point lan! " Transforming #ural India- Prevalent Scenario

countries advance not because of their size but by the manner its people lead their lives and by the character they possess and by the skill of their hands and intelligence they possess to do things. If India would make progress, it would do so because such people live here and not because 36 crore people live in this country. ! 7 pertinent !uote of +ndiaAs first rime 5inister, andit Bawaharlal 0ehru in the 1C4Ds during a visit to the small township of #ayalbagh :population 4,DDD at that time;, about 2DD kms from #elhi. =narguably the %Rural +ndia& . to what some prefer to refer as ?harat * is predominantly dependant on agriculture for its livelihoods and the burgeoning population coupled with more efficient farm practices has made it unsustainable for agriculture to continue to sustain its traditional /market share1 of rural employment. +n +ndia, Today agriculture employs more than EDF of rural population, but only contributes to about 1GF to nation&s H# . The dependence of village communities, specially the resource*poor :comprising mostly of agricultural laborers and farmers with very small landholding; on land is enhanced because of the lack of access to other productive assets and skills. Today, >8 are a nation of approximately I3G,DDD villages with more than two third of total population living in the villages. +n this scenario, in order to achieve nationwide transformation and push our country in the orbit of %developed nation&, bring mass awareness, fight against enemies such as poverty and population, create an advanced educated society of citi'ens and above all in order to witness +ndia transformed after E4 long years of independent rule, + believe, the up*most action*item is to bring about Rural Transformation.
Prevalent Scenario $ %eed to &radicate 'r(an #ural Divide

7s we are aware ma$ority of Rural +ndia population has been engaged in the core agricultural work till date. This, however, being the most accepted*and*followed )ocio*8conomic modelJ there has been evident reason for the Rural 2outh to remain engaged in the /business1 which they had for generations. 6ategori'ation of task backed by limitation of choices in the Rural +ndia eventually widened the chasm between not only the Rural and =rban 2outh communities but also between the opportunities made available to them. 5oreover, the divide not only barred the opportunities but also the exposure of advancement to the youth of Rural +ndia. The divide formed uneven income groups starkly differentiating the =rban and the Rural 2outh. 7nd, sadly so, the differentiation factor responsible for disparity is, + am sure, the %unavailability of opportunities& to Rural 2outh and certainly 0-T %unavailability of talent&. +ndia is in the race of being a super*power and, luckily, there are many visionaries * like 3ormer resident 7 B 7bdul <alam * who have already shown pathway for the same. 7midst all the efforts we direct to make +ndia a developed nation, the pressing need of time is to eradicate the opportunity difference between =rban and Rural 2outh. 8radicating barrier of =rban Rural #ivide would help us address plethora of our prime concerns such as poverty and population explosion :or implosionKL; to name a few. 9aving noted the need for highly*scalable model which can bring mass awareness and help the nation prosperJ + believe there is a need for a model which, i; rovides re!uisite opportunities to Rural 2outh a. 3or getting trained b. To receive appropriate feed*back c. 3or better utili'ation of their time and efficiency ii; 6reates employment with even opportunities for both men and women

iii; 8liminates the difference of exposure between =rban and Rural areas iv; roves to be the most competitive yet economical model wherein comparison with other conventionalM traditional existing models. v; +tself should be a highly scalable for leveraging the untapped potential of the Rural 2outh. >ith ED percent of our population living in villages, the development of +ndia will not be comprehensive or complete unless there is development in our rural areas. -ur ob$ective of inclusive development will not be achieved unless villages do not prosper, where as 5ahatma Handhi used to say the heart of +ndia throbs

Open Innovation In Slowdown


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7bout the 7uthor, 5r. rashant <umar, 5?7 )tudent, @5 Thapar )chool of 5anagement, 6ampus 8ditor, The 68- +nsights

A(stract +nnovation is a key to success and for survival as well. >hen resources are scarce andM or constraints are imposed, new ways are to be sought to survive and sustain. )ame is the situation at present in the world economy. 3inancial turmoil has shaken the whole world and all governments. This has direct impact on enterprises, be it large companies or )58s. The research paper analy'es the past and reframes the future. +t proposes a framework for the enterprises to survive based on open innovation and strategic correlation. The paper introduces open innovation and explains the role of open innovation in endurance of enterprises with briefing about challenges of open innovation. The paper proceeds with what can be achieved by open innovation in recession and explains the necessary actions for open innovation in recession period. The paper touches human side of innovation and based on all these, proposes a framework for open innovation. The paper ends with role of open innovation in small and medium enterprises :)58s; to show importance of the same for their survival. )* Introduction
The concept of open innovation approach is becoming more and more popular over the years, and several organi'ations adopt this kind of methodology. ?ased on the open innovation approach, better results and developments can be achieved through the extension of the innovation processes outside of borders of an organi'ation, and involving partners in the processes, suppliers, customers, business partners, but especially the end users of the new products and services. -rgani'ations reali'ed the

importance of opening their innovation processes, but there are several levels of this openness, and using external resources. +nnovation process is the development or refinement of new products, services or capabilities of an organi'ation, or application existing solutions in new ways. 3or the innovation process both internal and external knowledge can be used, or new knowledge can be generated. +* #ole of ,pen Innovation The open innovation approach changes some traditional innovation and RN# processes, while innovative solutions are traditionally serious business secrets, this new approach makes the future solutions visible not only for the future users, but also for competitors. +n some cases open innovation processes are performed in informal development teams, networks, where only weak central coordination supports the processes :e.g., @inux, 5o'illa, and Hoogle web applications;. +n these cases the goal*oriented approach is more challenging, but there is a bigger possibility for radically new solutions. 5o'illa developed a legal and functional model that allows the open source community and 5o'illa itself to cooperate in product development :5endonca and )utton 2DDG;. The main advantage of open innovation is the involvement of new thoughts, approaches into the innovation process. The capabilities, competencies and possibilities of internal innovation are limited, while extending the innovation process outside the organi'ation borders, opens :theoretically; unlimited capacities. Through extending the innovation boundaries a wider expert base can be achieved, where the experience from other fields or interdisciplinary areas can be useful for the innovation process. +n the case of a biotechnological firm, the company faced with a problem related to #07 se!uences. ?ecause they have failed to solve the problem, they opened the problem area for outsider scientist. ?y surprise the winning solution was presented by a scientist, who is not even working close the problem domain, but he could understand it, and he could reframe an existing technology for the actual problem :@agace 2DDI;. 7s output, a company can directly use the results of the open innovation, or offer indirect products and benefits :e.g., related to @inux;, or use the by*results of the innovation process, like customer loyalty, or image :?urghin et al 2DDG;. Challenges The biggest challenge in open innovation is the motivation of participants. 9owever direct compensation :salary, prices, etc.; can be challenging and interesting for several participants, more personal factors have more important role, 6uriosity, +ntellectual challenge of the problem :process of problem solving, achieving success;, 3ame :to show the world of capabilities;, To be part of the community, 3un :fun of problem solving;. ?ased on these motivation factors, in open innovation approaches organi'ations should make emphasis on building a suitable virtual environment for cooperation of participants, and offering intangible motivation factors. articipants can even convert these benefits in other relationships, e.g., the fame achieved in an open innovation pro$ect or in the open community could result a good paying contract from another company, or can be a good reference even for a company. 7nother important challenge is to convince the innovating organi'ation itself about the benefits of open innovation, decision makers usually afraid of presenting the future plans or current developments of the company. Through open innovation it is not hard for competitors to see, or figure out the current development plans for an organi'ation.

-* Innovation for recession -*) Achieva(le (enefits The two key benefits are speed and the ability to capitali'e on knowledge and labor regardless of where it resides.

-*)*) Speed* -pen innovation fosters faster exchanges of ideas through innovation action networks and shared development. -pen innovation is more agile, better able to deal with uncertainty of markets and enables technology development processes that are more adaptive and efficient. 8very company is facing greater demands to respond faster to their market and open innovation can enhance those efforts. -*)*+ Distri(uted !no.ledge and la(or* -rgani'ations can more effectively capitali'e on skilled labor that is mobile and independent. >e are reaching the end of knowledge monopolies based on conventional business models. Hlobali'ation trends re!uire increased knowledge to compete in other markets. 9owever, in practice, companies are reducing their internal knowledge bases in an effort to run lean. The best way to meet knowledge and labor limitations is to use open innovation methods. -pen innovation is about more than a small change in RN#. +t has the potential to revolutioni'e business. ?ut at this stage of the revolution, the open innovation process is chaotic. +t is advisable to get involved early, fail !uickly and often, learn from your mistakes and develop best practices for your company. -*+ To implement open innovation in an organi/ation The biggest issue with implementation is that one cannot simply copy another company. Too often a 68- mandates an open innovation initiative because it works for another company and thinks it can simply be duplicated. +t $ust doesn&t work that way. 7nother issue comes as a result of the lack of company*wide engagement. 7 go*getter director initiates a program for a department, typically RN#, and the rest of the company is indifferent or even resistant to the changes. 3inally, implementation deals with an intangible problem created in a company probably already in shock from too many recent changes to the organi'ation, making it unable to process yet another restructure or corporate culture ad$ustment. 8very company is uni!ue and must develop an approach to open innovation that fits its needs. 5ake sure the engagements are the right si'e. +n several cases clients expressed remorse that an open innovation pro$ect took two full !uarters to implement and then came the reali'ation that the market potential for the pro$ect is too small, making the open innovation effort seem trivial. -*- To assem(le a good open innovation net.or! >ithout a network, open innovation is dead. There are examined the different types of connections, solution bounty, internally pre!ualified, business partners, suppliers, and crowd sourcing in different literatures, 7 )olution ?ounty offers a reward for offering a solution to a specific !uestion. -n the positive side, it is easy to establish through a third*party, and typically you will find an extremely large number of innovators connected. )ome of the disadvantages include the tendency towards innovation against specification which can be too myopic. 7nd transparent problem briefs signal strengths and weaknesses to your competitors. +nternally re!ualified typically exist in the largest companies. + issues are handled upfront and the framework supports innovation*against*specification and mission innovation based on the closer engagements between the client and

members. ?usiness artners typically are rich in resources compared with typical small innovators, and they are more inclined to think bigger and understand the innovation mission. )ome detractors with engaging business partners include the danger that the partner can claim the $oint pro$ect and you end up boxed out. 7lso, make sure + issues are addressed up front. )uppliers have inside knowledge of your strategy, and ideally, are more likely to generate disruptive technology. )upplier relationships tend to mitigate + issues, too. +f they value your business, they have a lot to lose if something fails. )o normally, suppliers do not s!uabble over + so they can maintain client relationships. 0ot all businesses have strong opportunities in 6rowd )ourcing. +f you are in such a business, crowd sourcing builds customer loyalty and practical knowledge of your value proposition. The primary detractor is the cost associated with managing customer*feedback processes. -*0 To evaluate open innovation 7s with any field that is new, no final answer is available. >e can start by examining how open innovation compares to traditional internal methods. 6ompare the results and time to market of open innovation to previous methods. =ltimately, open innovation should increase profitability compared with only using internal methods. To assess open innovation by output, we can ask a series of !uestions. >hat percentage of sales came from externally licensed technologiesK +s this percentage increasing or decreasing compared with 2*3 years agoK >hat percentage of net income last year came from technology licensed out to other companiesK +s this percentage increasing or decreasing compared with 2*3 years agoK
+n assessing opening innovation in terms of time to market, we should ask how long it takes for patented ideas created inside the company to be transitioned to the firm&s own products and services. 9as this interval changed in the past five yearsK 9owK >hat percentage of internal ideas is offered for external licenseK 9ow much time elapsed between the patenting of ideas and their external licensingK

0* The human element of open innovation 0*) The human side: a missing element +t&s easy to assume, especially since much of the open innovation movement focuses on identifying external sources of innovation, that ideas and technologies :or the processes to find them; are the keys to success. ?ut, the key to success in making open innovation happen is in overcoming the significant barriers and perceived risks on the people side of the e!uation. 7ccording to a recent survey by )trategos, executives cited %short term focus& :I3F;, %lack of timeMresources& :42F;, and %management incentives not supporting innovation& :31F; as the biggest barriers to effective innovation. -nly 14F cited %lack of out*of*the*box ideas& as a ma$or barrier. 5arketing guru )eth Hodin sums up the sentiment well, when he says / "hat#s missing isn#t the ideas !! it#s the will to e$ecute them1.

7t leading companies like NH, 0okia and others who are successfully adopting open innovation models, the stories behind the scenes are tales of inspired leadership, aligned incentives, and cultures that support strategic experimentation and reward collaborative results. They have created in their organi'ations what is called an /-pen +nnovation 5indset1. 0*+ Five !e1s to creating an open innovation mindset 2e1 ): roaden 1our vie. >e all see the world through the %lens& of our own experiences and pre*conceived viewpoints. 3or this reason, having the right people doing the looking and having the right mindset becomes critical in whereMhow you look for innovation and how you filter what you discover. 7s an example of this %filtering&, it&s interesting to look at a study from #r. Richard >iseman&s book /@uck 3actor1, a book about his study of self*reported AluckyA and AunluckyA people. -ne of his studies showed that when each of these groups were shown a newspaper and asked to count the number of pictures, on average the self*reported unlucky people spent about two minutes on the exercise while self*reported lucky people spent seconds. The reasonK @ucky people tended to spot the message on page two ** in big type ** O%top counting& there are '3 photos in this newspaperO. +n fact, the unlucky people tended to miss not only this message, but the next one about halfway through ** O %top counting, tell the e$perimenter you saw this and win ()*+O. The lesson, O,nlucky people miss chance opportunities because they-re too busy looking for something else. .ucky people see what is there and not /ust what they-re looking forO. 2e1 +: Create alignment across the innovation ecos1stem 6reating alignment within any company is critical to achieving the organi'ation&s goals, and lack of alignment is often cited as a barrier to effective innovation, especially conflicting goals across functional groups. These barriers become even more pronounced in cross*company collaborations. -ften in collaborative relationships, at the highest levels it appears that groups are aligned, because they agree on the ma$or goals to be achieved. ?ut if you look deeper, you&ll often see that incentive systems, functional and organi'ational goals are often in direct conflict with the overall stated goals. -ne of the most common mistakes occurs when functional groups across the companies :whether marketing or engineering; negotiate and develop plans with counterparts in other organi'ations. ?ecause they believe that they %speak the same language&, and are often !uick to agree on certain aspects of the approach or program, each is much too !uick to %fill in the blanks& with assumptions about the other sides intentions and needs. This is a critical point to remember, you are especially susceptible to misunderstandings when the differences are subtle. 2e1 -: Adapt to 1our organi/ation3s tolerance for ris! 7uthors and consultants Bames 7ndrew and 9arold )irkin11 present a framework for alternative approaches to new product and business development, which is valuable as a tool for structuring strategic initiatives that are in line with an organi'ation&s tolerance for risk. The three types of roles include that of +ntegrator,

-rchestrator and @icensor. +ntegrators manage all steps necessary to generate profit from an idea. -rchestrators carry out some steps and link with partners to carry out the rest :the traditional view of co*development;. @icensors license the innovation :or brand; to another company to take it to market. >hen viewed through the lens of managing risk, these approaches can be adapted to suit an organi'ation&s culture and needs. 2e1 0: Put the focus on learning4 not results 7ll of the great skills that larger established companies bring to the task of optimi'ing current business can become an obstacle to nurturing nascent opportunities within an open innovation environment. +n their work on the fallacy of ambidextrous organi'ations, academics 5arkides and Heroski state /The skills, mindsets and competencies needed for discovery and innovation are not only different from those needed for mass market optimi'ationJ they conflictP1 -pen innovation initiatives can be thought of as strategic experiments in many ways. +n open innovation initiatives, the focus should be on accelerating learning, not solely results. Theory*focused planning and other more flexible planning approaches recogni'e these differences and put the focus where it belongs, on learning. 2e1 5: Transform 1our culture from the outside in +ndividuals and organi'ations that repeatedly fight their way through to transformational events ac!uire an ability to champion innovative and potentially risky ideas. +tAs not blind optimismJ itAs a recognition and calmness about the process of trial and error and a development of informed instinct as to when itAs appropriate to continue with the challenge or move on to the next one. 5any of the entrepreneurial companies and individuals that you are likely to partner with in an open*innovation initiative are often $ust these types of transformational champions . the 5ichael ?oehm&s of the world. 6ontinued exposure to these innovators and these initiatives within a somewhat %protected& and risk*reduced environment will over time create the kind of innovation mindset that otherwise would likely never become reality. 5* Frame.or! for #ecession: A #ipe Time for ,pen Innovation 0ecessions present a good opportunity to collaborate with others on finding, developing and marketing new ideas. >ith the economy softening, itAs tempting for companies to turn off the lights and shut the door on innovation efforts until things pick up. ?ut while this might look like a smart move, the impactQlost momentum, team dispersion, and wasted investmentsQis less than desirable. +t doesnAt have to be this way. -ne of the best options for recessionary times, and, some would argue, even in expansive times, is to $oin forces with another entity with complementary innovation goals. -pen innovation is about connecting with others to find new ideas and, often, to co* develop and co*market them. There are many examples of successful open innovation efforts today. )ome take the form of pan*industry innovation networks that share in the risks and rewards of their findings. -thers are straightforward co*development pro$ects between strategic players.

5*) 6igher levels of (rainpo.er applied* 7s the old saying goes, Otwo heads are better than one.O >hen companies with aligned interests come together, there is a better chance the problem at hand will be more broadly defined and there is less chance of falling prey to group*think. )uch broadly defined problems increase the chances for more holistic, breakthrough solutions to emerge. 5*+ Validit1* 8specially in open*innovation situations that involve a potential provider and a customer, the team has access to field conditions where the essential issues lie. The reference points and shared values that teams derive by working with users on a daily basis helps them 'one in on the right problems up front. )olving the right problems is half the battle of innovation, primarily because working on the wrong problems is so costly. Think foregone investment, market share, profits, and the negative career implications associated with failed efforts. 5*- 7uic!er to scale* -ne of the biggest reasons you see entities coming together is to make a given partnership scale up !uickly should its efforts be successful. +n the 0etflixM@H 8lectronics deal, @H gets ready customers :who it expects will buy millions of its new boxes;, while 0etflix gets a new media platform that makes it more competitive. This means access to something new to the world that could only have been co*created. ?efore initiating andMor participating in open innovation efforts, bear in mind a few important things that need to be aligned from the outset, 5*0 Identif1 partners .ho share a common vision* -bviously, things can move more !uickly if companies already have a relationship, but that is not essential. 7nd sometimes partners can be found in existing networks where you can OmeetO and perhaps OdateO before getting OmarriedO into a tighter co*development relationship. 5*5 6ave a (ig idea .ith clear goals* )tart with a big ideaQafter all, one of the advantages of open innovation is that a team of companies can accomplish more than one alone. ?ut the effort also needs clear goals and milestones that partners commit to. 5*8 Plan t.o team .or!spaces9one ph1sical4 one virtual* +tAs important for the team to meet in person at the outset of the effort, any time the team is working to draw conclusions from their separate analyses or when decisions are being made. -ther than that, concentrate on using virtual tools to post and share documents and communicate through regularly scheduled calls. 5*: ;anage IP* 5anaging intellectual property is always the stickiest part of collaborative innovation. The most successful efforts seek to build win*win cultures where both parties benefit in e!ual measure. 7lthough it should be an expectation to involve lawyers at some point, it is often unproductive to have them driving the early meetings before the parties have had the chance to explore the commercial or investment re!uirements of the partnership. +nstead, it is often more productive to understand each companyAs legal culture, its successes and failures in past relationships, and any assets being brought to the table. These things can inform a more casual letter of intent that can guide the early stages until more is known. That document would include the fundamental goals of the united effort, an agreement in principle regarding the resources being brought to the table, and what the expected timetable would be to draw up a more exact picture of the future business relationship. >hen exploratory activities result in a tangible concept of what the

parties will produce and a business model is formulated, then it is time to formali'e a business contract. 5*< Create a ne. mindset. +n many cases, organi'ational culture can be an obstacle to open innovation. +nternal groups often perceive open innovation as a code word for outsourcing, when itAs really an issue of redefining some internal roles and rethinking your innovation organi'ation much more broadly. )uccess re!uires a top* level vision and a lot of internal communication as the initiative is rolled out. ?ut, says (enture2As #ocherty, OitAs almost magical to watch the transformation as companies actually become more innovative when they learn to partner with creative companies and entrepreneurs on the outside.O -pen innovation is a leap of faith. The $ob of leadership is to make it a short leap. ?ut given how many recent collaborative efforts have been successful, open innovation should be put on the top of the list of core competencies for the foreseeable future, recessionary times or not. 8* Survival of the Innovative 9 Doing ;ore .ith =ess >hen the economy is down, money is short and cutbacks loom, the first instinct at many organi'ations is to free'e and do nothing. 0o new pro$ects, no new ideas Q $ust keep a low profile, cover up and wait for the storm to pass. ?ut while this may be a natural reaction to the crisis, +&ll argue in this paper that it is the wrong reaction, and is actually the riskiest and most dangerous option for companies today. The reason should be no news to anyone reading this paper, The state of enterprise, for example, +T hasn&t changed Q demand for computing services within the organi'ation continues to increase, and the existing infrastructure, often based on the 0*Tier distributed computing model, is still as cumbersome, inefficient and difficult to scale. 2esterday you could still solve things by throwing money at the problem. ?ut today there&s no budget for expensive machines, complex integrations or armies of consultants. The only way to deliver the goods, and prove the true value of +T within the enterprise, is to do things differently. #oing something Q something innovative Q is key to +T&s very survival in these tough times and is true for any company in any sector. 8*) Innovation that Saves ;one1 >e often think of innovative technology as something that goes beyond the ordinary that allows you to make things bigger, better, and faster. ?ut in fact, one of the main drivers for innovation is economic pressure. 0ot having enough money makes you think out of the box, and discover ho. to do more .ith less. >hen budgets are cut, you have two choices, deliver less to the organi'ation, making yourself even more prone to the next round of budget cuts, or think of innovative ways to produce the same level of services Q or even better servicesL Q >ith less resources. ?ut this isn&t an easy task, being more efficient re!uires you to look into how your current systems are running and re*examine some of your most basic assumptions. 8*+ Time for a Change +t is an interesting irony that sometimes the strongest incentive for a change is /we have no choice1. >hen survival is at stake, many barriers to innovation fall, and stakeholders rally around new ideas which might save the day. The current crisis might be exactly the time to take a bold technological leap which addresses the

glaring inefficiencies in the existing infrastructure. 3or the architect, a crisis might suddenly provide freedom to perform core architectural changes, which, although badly needed, would previously have been very difficult to achieve. =nder today&s market conditions, the regular ob$ections Q OletAs not break whatAs runningO, /let&s not rock the boat1, Oit&s not company standardO Q are not going to cut it. The name of the game is /survival of the innovative1 Q those who push forward new ideas that will improve efficiency are most likely to survive, while those who take the Osit and waitO approach take the risk of being left behind. :* Innovation in S;&s )58s play an increasingly important role in innovation and $ob creation, but are nevertheless left out of the research on open innovation, which has been analy'ed mainly within the context of large, technology user firms :6hesbrough, 2DD3;. 5any surveys have shown and indicated that open innovation is also becoming increasingly popular among )58s. This is not a surprising, considering the increasingly important role small and medium si'ed firms play in innovation. 7fter all, small firms often lack resources to develop and commerciali'e new product in* house and as a result are more often inclined to collaborate with large firms. +n addition, the survey results show that open innovation is not entirely different for services and manufacturing firms as we expected based on the literature. 5anufacturing firms are on average more active in the outsourcing of RN# and the out*licensing of + , a result that is not surprising given the technological commitment of these firms, but they do not differ with service firms on other open innovation activities. +t has also been found the significant differences between different )58*si'es which show that there are different open innovation strategies and practices among )58s. )everal motives have been found in studies for firms to start open innovation practices and barriers that )58 managers encounter when they open up their innovation process. -pen innovation is mainly motivated by market*related targets, these are the most important driver for firms to engage in venturing, to participate in other firms and to involve user in the innovation process. 5ost )58s use a broad set of methods to meet the ever*changing customer demand and to stay competitive. 6orporate renewal is second most important driver towards open innovation. +n addition, many barriers for open innovation in )58s are related to corporate organi'ation and culture, no matter which type of open innovation practice is pursued. There is certainly no one uni!ue ways in which )58s deploy open innovation strategies, but we have no further specifications about these different strategies. <* Conclusion The recession and financial meltdown has provided companies an opportunity to come close to each other and to behave with each other in a way of partners in an industry than competitors. To survive, when the resources are scarce and constraints are increasing, innovation is the only way ahead. 5any times, it has been proved that collective efforts have shown more substantial results than individual efforts. )o, the time has come when all companies in the economy should $oin hands with their suitable partners and to support each other in survival against all the odds. The

purpose of the research is to communicate a message to all the companies and enterprises in +ndia that world economy is changing its faces and economical focus is shifting to 7sia. )ince, +ndia is a country having a large number of )58s who contribute a ma$or percentage in economic development and growthJ it is re!uired to understand the role of innovation in their survival. )trategic partnership and collaboration will generate new ways to survival for enterprisesJ leaving them preparing stronger platform for themselves.

Games the First Boss should play with the fresh recruits from Colleges and Universities
This is the hiring time for all fresh engineers and ; As* &ver1 1ear the1 >oin the corporate in the month of April4 ;a14 and ?une*

>ith lot of expectations, energy, vigor, optimism and with good academic and training background they are recruited from colleges and universities to the corporate. These young educated people have tremendous potentials and they can perform at their peak performance provided they are given a very conducive environment where they can perform brilliantly. These fresh recruits loo! out for Conducive Corporate &nvironment4 and ma>or and most important pla1er @T6& FI#ST ,SSA pla1s an important role to ma!e these 1oung people to .or! and perform at their (est* They are the managers@First ossA to whom the new recruits report, they play most pivotal role in building and shaping the new recruits careers and help them to build them as leaders in future. The role the 3irst ?oss is very important in setting directions , making and shaping these young people&s mind, careers and individual goals along with the corporate goals. Bames the First oss should pla1 .ith these 1oung and fresh graduates >ust coming out from colleges* 1. #esponsi(ilit1 and Challenge, The first ?oss is an important person in everyone&s life, as we commonly say first impression is the best impression the first boss makes lasting impression in the fresh recruits& mind. 2ou are the leader, manager, motivator, mentor, friend, philosopher, and guide to these young men. 2our responsibility is to make them true leader and a performer in the long run. =ndoubtedly this very challenging task and a stupendous responsibility to become the first boss in some ones life.

2. Tas! and Target ,riented, Right from the day one makes them accountable for the $ob they have been assigned for. ?e candid and polite to them and make them understand that they have been recruited for these specific task and should be ready to and willing to go for hard work in order to achieve the targets that they has been assigned for. +n a professionally managed organi'ation performance is the only thing that matters. ?e task an oriented ?oss not a task master. >hen specific targets are given along with time deadlines they may feel little bit nervous not for achieving the targets within that deadline itAs the 3irst ?oss $ob to show them the process how to achieve the targets within the deadlines. 5ake them successful because their success is your success. 3. Teacher and Coach, The 3irst ?oss right from the day one make the business process understand to these young recruits, it involves lot of teaching and coaching for these young resources. ". Po.er house of &ncouragement, The 3irst ?oss is the source of encouragement, he is the person who will break all the fears and doubts in the mind of these your people, enable them to open up their mind which can be a bonan'a. 8ncourage them to come out with new ideas of doing the $ob and help them to do the O-ut -f The ?ox ThinkingO. 4. Appreciation Catal1st, The 3irst ?oss should be loud in their appreciations even for little achievements that these young guys make. I. Can Do Attitude Initiator, 7ppreciations by 3irst ?oss is like wining first 1DD meters flat race in schools, it increases the confidence level in these young minds and the /6an #o1 attitude starts developing. 7fter they accomplish small task and targets, slowly give them additional responsibility and bigger task and targets, make use of the O6an #oO attitude artfully. E.6and 6olding If %ecessar1, The 3irst ?oss should never hesitate to roll up his sleeves and make his hand dirty to teach complex things to these young recruits, once he teaches them his $ob becomes easier. 0ever get irritated even if they ask you very stupid !uestions. Remember your parents did hand holding while making you walk. Remember handholding is a part of mentoringJ they remain obligated and indebted to you throughout their life.

G. Delegate and &ncourage Them to Ta!e Decisions, The 3irst ?oss should delegate little power and ask them to take small decisions. @ook out carefully for the outcome of the decisions if it&s good give them appreciations, if the outcome is poor sit with them to analy'e where it went wrong and what precaution they should take while making the next decisions. #on&t shout at them if the decision is wrong they will close them up get back in to their cocoon. 7fter all decision making is the most important thing in business. 9elp them to make good decision makers. C. #espect =eads to #esponsi(ilit1: The 3irst ?oss should never ever disrespect these young recruits& .Respect works like magic. +f you respect these young recruits they not only reciprocate but automatically take responsibility, and once they take full responsibility they start delivering the goods. Results give confidence, and confidence building is a step by step method. #elivering results becomes a habit. 5utual Respect is a A>in*>inO situation. 1D. %ever Steal Credits, The 3irst ?oss should never be a credit stealer, remember these young people are very smart they understand every thing, if you have a 3ID degree appraisal system working in your firm they will fix you up then. 6redit stealing by a boss is like digging his own grave in the professional organi'ation. 11. Don3t involve them in ,ffice Politics: 8very office has got office politicsJ the 3irst ?oss should never use these young recruits as pawn in the office politics that he may be involved in. These young guys will come to know office politics and lobbying in due course .-ffice politics reduces energy and in turn reduces efficiency. 9ere come the maturity calm and composed character strength of the 3irst ?oss. 12. Close ;onitoring, The 3irst ?oss should keep a strong vigil about the !uality of learning, engagement and the involvement in the work that these young recruits are doing. <eep always the communication channel open. 5ake the communication is an adult *adult mode. 13. &ncourage Them to Do Self Audit And Introspection: The 3irst ?oss should make sure that the young recruits are making the /)elf 7udit1 after first ninety days of work and correcting themselves on the basis of their audits. 7sk them to find out their own mistakesMdrawbacks and remedial measures which they need to overcome them. Hive them suggestions about the blind spots which you may find by using Bohary window.

1". ;a!e Them CThin! igD, The 3irst ?oss should be able to make these young guys to /Think ?ig1. )o he has to /Think ?ig1 in order made others /Think ?ig1. +f you can make them /Think ?ig1 they can achieve big by& Thinking ?igO is a practice and it stays lifelong. 14. %ever e Afraid of Smart and Intelligent #ecruits: @ast but not the least the 3irst ?oss may come across young recruits much smarter and intelligent than him, please don&t get afraid of them, don&t think them as your threat. Smart people .or!ing in 1our team can ma!e 1ou and 1our team smarter* These are all old saying and observationsJ it&s $ust like old wine in the new bottle. ,ne interesting surve1 .as conducted (1 an agenc1 and it .as found that 0:E of the emplo1ees donFt leave the organi/ation (ut actuall1 leave their oss* It3s easier said that done* It3s true the impact of the FI#ST ,SS lasts long* Bust after academics&s entering into the new unknown big corporate world is a transformation stage, where a professionally !ualified student has to perform and deliver, some perform and excel and some don&t. >ith my experience and observations + have written this topic after working in various firms watching many bosses and training and building many careers by being a boss. Some ,SS 1ou .ant to remem(er throughout 1our life and some 1ou don3t .ant to remem(er at all4 and the1 are 1our nightmare*

INDIA TO FOCUS ON LAG OF ENTREPRENEURIAL TALENTS AMONG RURAL YOUTH WITH THE HELP OF SUPPORTIVE DEVELOPMENT INSTITUTIONS UNDER PUBLIC PRIVATE PARTNERSHIP MODEL. Indians are in general risk averse and look for employment opportunities rather than engaging in business and industry. However in recent years some change is visible particularly in urban and metropolitan areas. It may also be mentioned that some sections of Indian people have earned name and fame almost globally as entrepreneur of small retail business houses particularly in provisions, clothes, and gold and silver ornaments businesses. It is interesting to note that such entrepreneurs could be traced in most of the counties of the world as since time immemorial these people have migrated from India to set up their trading businesses in various parts of the world. It would be further interesting to note that most of these people migrated from their villages and towns and stayed over there for generation. In fact even in agriculture like sugarcane etc Indian farmers have enriched many backward countries through their entrepreneurial skill. However it is equally true that India lagged in Schumpeterian model of entrepreneurship for quite some time and of late only this could be seen emerging in metropolitan and also in some developed parts of urban areas. GLUED TO FARMING Most of the Indian villagers remained glued to farming only partly because the traditional farming was seasonal and provide enough time to laze away. It also needed no formal education. Moreover but for monsoon failure, the risk in farming was almost negligible and hence remained attractive for generations. However with the emergence of risks beside monsoon viz. seeds, attack of pesticide and volatility of prices of agricultural products farmers over the years developed a mindset of fatalist and cursed their fates for any calamities and sought doles, waiver and charity from governments and charitable institutions. It would not be wrong to say that successive governments and politicians even after independence followed a policy to keep farmers and artisans under their thumbs by making them dependent on their doles, grants and subsidies etc. as that helped them to build their vote banks. However it would be wrong to assume that villagers could not be transformed as entrepreneurs as they have been found developing many innovations even with primitive traditional knowledge for survival. It would be possible to develop an appropriate entrepreneurship model if rural youths are empowered with marketable skills. FORTUNE AT THE BOTTOM OF PYRAMID r ! k "rahlad of #harton in his famous book $%he &ortune at the bottom of "yramid' has brought out how poor people in rural India could become employable by adopting new growth models suitable for generation of new employment opportunities and economic growth. In this regard he stressed that the role of multi national companies has to be re(defined. He emphasized that the present trend of M)!s to cater for mature markets need to be changed and to e*tend the same even to poorly developed markets in villages and semi(urban areas by introducing some strategic changes like packaging and pricing. It would not be difficult as the recently developed supply chain management techniques empowers industries to reach easily and in cost(effective way to the remotest area of any place. Some initiative of this nature has already been taken by some consumer goods industries and no doubt these efforts have helped these industries to capture more space and also have helped villagers not only to earn and

spend but also to produce and consume these along with people residing in urban and metropolitan towns. However these efforts have led to growth of market for M)!s but have not helped villagers to develop their latent potentiality of becoming full fledged entrepreneur as manufacturer of goods. It is true some of the villagers could develop some supply chain management and retail business in the process. NEED CHANGE IN MINDSET IN FRAMING POLICY It appears there is need for some paradigm change in our policy thinking as well as our mindset particularly of our politicians. In this regard our e*( "resident +alam's vision of providing urban facilities in rural areas ,"-./0 is worth mentioning as this is possibly one such step that would help transforming agri(business potential through knowledge, institution and technology platform. It would therefore need to be multiplied to help spreading knowledge and technology to rural youth. It has to be borne in mind that technological innovations could also emerge in the laboratories of life as rightly pointed out by r. Mashelkar. /ccordingly this has to be stressed in all efforts to re1uvenate rural youth and transform them as entrepreneurs. FOCUS ON DISPARITY IN INVESTMENT IN RURAL AREAS In fact investments made in rural areas though undertaken e*tensively and at times even massive amounts have been earmarked for various rural pro1ects but all these generally have proven ineffective as most of these are in the form of subsidies, doles and waiver of loans instead of investment in infrastructure development in rural areas. %hese also failed to generate effective delivery institutions and virtually generated highly corrupt institutions manned and fanned by politicians and rural elites. In fact the highly noticeable disparity in between rural and urban infrastructure like roads, transports, power and communication have created the hiatus in economic growth of rural and urban areas. 2ack of infrastructure in rural areas have made private sector also hesitant to develop industries over there. It is true the scene is changing and some new industries are growing in villages or its outskirts. 3ut essentially villages have remained agrarian with low and disguised unemployment. It is therefore high time for policy makers not to introduce employment opportunity plan like .456/. 745)/ ,).860 where unemployed rural youths are either given work of mud lifting or paid even when no work could be allotted to them. %his would obviously make them lazy and some of them even come out to refuse digging mud and to carry the same for dumping at some allotted place. It is difficult to fathom out the type of mindset of politicians who actively advertise such pro1ects and feel complacent and happy as if they have been doing great work for poor villagers. In fact it would not be wrong to state that $the program seemed well designed for bureaucrats and politicians to siphon off money'. NEED TO CHANGE MINSET OF POLICY MAKERS However if something has to be done for rural poor it would be necessary to change the mindset of policy makers and bureaucrats. In fact rural areas should not be considered as agricultural belts and rural youth should not be taken for granted as farmers and artisans only. In fact rural youth like all other youth should be considered as human resource and could be shaped like all other youths as entrepreneurs, innovators, professionals and managers. In fact many rural youth after getting some education have migrated to urban areas and have developed many new business and even industries. It is therefore natural question that would arise in the mind of any rational man what for these migrations should continue and why not such thing could not be done in rural areas. %he answer is not very far to seek. It is the lack of infrastructure that has led to such migration of youth. It would therefore be necessary for government, enlightened institutions and individuals to come forward with pro1ects both agriculture and other sectors including service and manufacturing to provide opportunities to rural youths to work in these village pro1ects and enterprises. MODEL RECOMMENDED

In this regard it is worthwhile to keep in mind that there would be some lag in developing village entrepreneurs as there would be dearth of capital to develop village pro1ects and enterprises but this could be dealt with by developing institutional entrepreneurship as is done to meet the capital needs of urban entrepreneurs by creating development banks. However in this strategy also there could be some difficulty as overall supply of individual entrepreneurs and mangers with necessary education and aptitude might not be readily available. It would therefore be imperative that institutions under public private partnership model should be developed to fund and organize ventures to provide services and to manufacture product. Such organizations should conceive pro1ects for compact lands for farming and for clusters of artisans for manufacturing, trade and commerce. States in developing countries have assumed the role entrepreneurs. In some of the developing countries including India some efforts have been made to institutionalize development activities even in rural areas but these have not been specifically assigned the much needed role to act as catalyst for growth of individual entrepreneurs. In fact villagers could have been as good as city dwellers but for lack of infrastructure including education. It would therefore be necessary to hold the hands of villagers for some period and enable them to grow as entrepreneurs and managers without getting the shocks of market and monsoon or such other natural risks for some time as these have created fear psychosis in villagers for generations and obviously they need some time to get over such psychology and become an entrepreneur rather than remain as fatalist and dependent on doles alms and such other charities. APPLICATION OF RECOMMENDED MODEL In recent years some efforts have been made to hold hands of farmers and artisans by some micro financing institutions particularly in south. "ragati 3andhus in +arnataka is one such model as these groups of marginal farmers named as "ragati 3andhus not only provided hassle free loans to farmers but also physically stayed with them to help them to prepare crop planning along with marketing and technology support. %his obviously a better model than usual pattern followed by micro financing institutions to act as lender to farmers, however to achieve real success it is imperative that these institutions should shoulder the risk of farms and firms in rural areas run by rural farmers and artisans. %he ultimate need is to enable them to get enough confidence and managerial and financial strength to become entrepreneurs on their own. 4nly with such transformation of rural people particularly youth who outnumber others could make India a developed country and decouple her from the present global meltdown. / 2I98 !/S8 S%- 7 of !/)/ /(/ S-!!8SS S%4.7: :,adapted from www.tbs(sct.gc.ca; www.rural.gc.ca; www.google.com 0 Business Devel !"en# $n% En#&e!&eneu&s Small businesses are the source of nearly <= per cent of new 1obs in #estern !anada. %hese are the employment engine of the region. In recognition of the importance of community(based delivery of services and support to Small( and Medium(sized 8nterprises ,SM80 development, western economic development ,# 0 program provided funding to third(party organizations including industry associations and those making up the #estern !anada 3usiness Service )etwork ,#!3S)0, which in turn deliver business services and support to entrepreneurs. %his has obviously led to improved access to business information, training, business advisory services and capital for all western !anadians, including women and francophone entrepreneurs, and people located in rural communities.
Improve usiness Productivit1 +t provided operating and loan funding to a number of other organi'ations that in turn delivered targeted loan programs, business advisory services and training for entrepreneurs. +t improved business productivity by addressing the needs of )58s and entrepreneurs through a number of service delivery mechanisms and partnerships including more than 1DD offices. +t engaged 6ommunity volunteers, who knew local issues and could identify business opportunities, mainly helped in achieving success in

grooming entrepreneurs and their business enterprises in 2DD4*2DDIJ this organi'ation was stabili'ed through new, multi*year agreements providing operating support for member Communit1 Futures Development Corporations @CFDCsA 3urthermore 63#6s were floated as a national community economic development program implementation organi'ation that would help people in rural communities respond to local needs. +t has provided operating funding to the 63#6s since 1CC4 to enable them to provide local strategic economic planning services, business counseling and loans to small businesses in rural communities. GomenFs &nterprise Initiatives @G&IsA >8+s work to provide customi'ed services to help women entrepreneurs face challenges and succeed. -perating from head offices located in <elowna, 6algary, )askatoon and >innipeg, the >8+s improve access to financing, education and training, business advice, loan aftercare, information, networking and mentoring for women entrepreneurs. Francophone &conomic Development ,rgani/ations @F&D,sA: 38#-s enhance the vitality of -fficial @anguage 5inority 6ommunities :-@56s; in >estern 6anada and strengthen economic opportunities for francophone business. >ith head offices in >innipeg, Regina, 8dmonton and (ancouver, 38#-s provide enhanced services to francophone entrepreneurs, including training, business and community economic development, access to capital, information services, marketing advice, and networking. Canada usiness Services Centres @C SCsA: The 6?)6s provide a single, seamless gateway to information for businesses and maintain an extensive database of business and trade information from federal, provincial, municipal and non*government sources. >estern 6anada 6?)6s are located in (ancouver, 8dmonton, )askatoon and >innipeg and services are also available through a network of regional 6?)6 and 7boriginal service sites. +n addition to support through the >6?)0, ># has undertaken a number of initiatives to encourage )58s and RN# organi'ations to be innovative in improving their productivity and competitiveness. These include lean manufacturing practices :identification of new trends, the development of innovative strategies and the implementation of new processes;, technology and management training and academic and industry internships and exchanges.

Sub-Activity: Access to Capital


7 2DD" )tatistics 6anada )urvey on 3inancing of )mall* and 5edium*si'ed 8nterprises found that 2D per cent of )58s cited obtaining financing as an obstacle to business growth. Those more likely to experience difficulties in obtaining financing included innovative businesses :"D per cent;, young enterprises * defined as those that started operation in 2DD2 :3" per cent;, exporters :2C per cent; and manufacturers :2E per cent;. Through work with financial institutions, members of the >6?)0 and other organi'ations, ># has contributed to increased investment in targeted western 6anadian firms. +n particular, ># has responded with the development of two types of )58 loan programsJ &valuation 1. WD Loan and Investment Program (previously Program) at,http,MMwww.wd.gc.caMrptsMauditMlifpMic*eng.asp.*source The evaluation found that, the Loan Investment Fund

4nly >? per cent of 2oan and Investment "rogram loan clients could have obtained financing from other sources; <@ per cent of the small business financing e*perts surveyed indicated that there are gaps in loan financing available to small(and medium(sized enterprises; and ?A per cent indicated that the 6overnment of !anada should influence private sector financial institutions to do lending to eliminate the gaps; and %he 2oan and Investment "rogram does not significantly duplicate other loan programs and services.
@oan loss agreements have been negotiated to leverage additional loan capital from credit unions for rural business lending by 63#6s in ?ritish 6olumbia. The urban micro*loan, 7dvice and ?usiness @oans to 8ntrepreneurs with #isabilities loan :7?@8#; and francophone :38#-; agreements provide loans averaging R1",DDD to very small and start*up businesses.. 2. Developmental loans delivered by the Western Canada Business Service Network and Entrepreneurs with Disabilities Program (EDP) urban delivery agents

># has provided >6?)0 network members with funds to support repayable loans to )58s in rural areas, and )58s operated by women, francophone, young entrepreneurs or those with disabilities. >#As network members also provide )58s with path finding services and referrals to alternative sources of financing. #esults for +HH5-+HH8 7n evaluation of the 8ntrepreneurs with #isabilities rogram :8# ; and the =rban 8ntrepreneurs with #isabilities +nitiative 3und :=8#+; undertaken in 2DD4 is available on >#As website at,http,MMwww.wd.gc.caMrptsMauditMedp*uediMdefault*eng.asp. +n the evaluation, 3erence >eiker N 6ompany estimated that Othe average 8# and =8#+ loan client generates 2ID,DDD in revenues and I person years of employment over the first five*year period after they receive assistance that is attributable to the assistance that they received.O +n 2DD4*2DDI, total external financing leveraged by 38#-s was estimated at R2.3 million. The results for 63#6s in rural areas and >8+s serving women entrepreneurs are summari'ed below,

Total statistics above include, IG loans to entrepreneurs with disabilities, totaling R1." million and pro$ected to create or maintain 14I $obsJ 113 loans to youth, totaling R2.3 millionJ and, 23I loans to 7boriginal clients, totaling RE.1G million.

Program Activity: Innovation


, / innovation process that translates knowledge into new products and services is an important driver of long(term economic competitiveness and prosperity. # investments in innovation are an important building block for creating a diversified economy in #estern !anada. %hese investments support the emergence and growth of technology clusters in key sectors ( such as environmental technologies, life sciences, information and communications technology ,I!%0 and value added resources and contribute to the development and commercialization of new technologies and technology based services and products in #estern !anada.
7ccording to the cluster life*cycle model, most of the western technology clusters are in their earliest formative stages. Recogni'ing this, the ma$ority of ># investments have been made in knowledge infrastructure and technology adoption and commerciali'ation, which help set the foundation for clusters and future growth. 7s the clusters mature, investments will address gaps and opportunities and will be connected to markets and collaborative research opportunities with the =nited )tates through the 8R+. ?y strengthening the innovation system and enhancing technology clusters, resources such as highly !ualified personnel :9S ;, large anchor companies, venture capital, investments in RN# and knowledge infrastructure are drawn to and developed in the region. 3irms in clusters are often active in export markets and international supply chains, and contribute to economic growth and diversification by reinvesting in new RN# activities and creating or retaining highly skilled $obs. +n 2DD4*2DDI, ># approved almost R42.E million to support the growth and development of technology clusters and the innovation system as a whole. The following graph illustrates this distribution,

># works with many partners when developing and funding innovation pro$ects. -n average, the department contributes 33 per cent of the costs of an innovation pro$ect. 3or innovation pro$ects approved in 2DD4*2DDI, ># support will leverage funding of R1"I." million from other sources.

Sub-Activity: Technology Adoption and Commercialization


Technology commerciali'ation ultimately occurs in industry. ># supports all phases along the technology commerciali'ation continuum from support to organi'ations such as university technology transfer offices that identify, protect and license technologies to support that encourages technology adoption and adaptation. +ncreasing investment and support for the commerciali'ation of new technologies in >estern 6anada is a priority for >#. The departmentAs work in this area has led to broad results including an increase in the number of technologies developed in research institutions that have commerciali'ation potential, as demonstrated by intellectual property :+ ; protection, licensed to an external user, or form the basis for a new company. The ultimate goal is to bring new products and services to the marketplace. +n addition, >#As efforts have led to increased technologies adopted by existing firms.

Su'(A)#ivi#*+ Te),n l -* Lin.$-es


Through its work in innovation, ># has increased connections and synergies among innovation system members through new partnershipsMnetworks, collaboration, and conferences to exchange information and increase awareness.

Sub-Activity: Technology Research and Development


To support technology RN#, ># has invested in applied RN# leading to a new product or process that will have a near or mid* term commercial potential. This has resulted not only in applied RN# leading to technologies with commerciali'ation potential, but also support for the operating or increased capacity of RN# canters and increased availability of skilled personnel

Sub-Activity: Community Innovation


+nnovation at the community level can identify new opportunities and enhance the viability of traditional sectors. >#As support for community innovation in 2DD4*2DDI resulted in planning studies used by communities as a tool for economic development, increased capacity in communities based on the generation of new knowledge, and community businesses adopting new technologies.

Su'(A)#ivi#*+ Te),n l -* S.ills Devel !"en#


=nder this sub*activity, ># supports pro$ects that increase training, education and skill building in the new economy sectors. ># has contributed to several initiatives that increase the number of !ualified individuals in the field and build linkages with industry.

Su'(A)#ivi#*+ Kn /le%-e In0&$s#&u)#u&e Inves#"en#s in .n /le%-e Infrastructure provides the foundation for technology clusters. # Bs investments in this area have resulted in increased physical assets for .C andDor training and new investments to the field.

CONCLUSION It is obvious therefore that the present lag in entrepreneurial development in rural areas in India could be overcome if institutional entrepreneurs under public private partnerships are formed. %his would not only help in risk minimizing but also in risk sharing and that would help risk averse rural youth to undertake business and farming with more gusto and less fear. It would make them also real entrepreneurs after they start tasting success in their enterprises 1ointly managed with state partnership. In the process they would also be groomed as better managers under the enlightened and better educated e*ecutives drawn and recruited by the state....

Sunil Bharti Mittal, born October 23, !"# is the $hairman and Managing %irector o& the Bharti group' (he )S% " billion turnover compan* runs India+s largest ,SM-based mobile phone service'

(he son o& a politician, Sunil ;ittal is &rom the town o& -udhiana in .un/ab' 0e has built the Bharti group, along with two siblings, into India+s largest mobile phone operator in /ust ten *ears' 0e has been $hairman 1 Managing %irector o& Bharti ,roup since October 222 ' 3esiding in %elhi, he is married, with three children' A &irst generation entrepreneur, he started his &irst business in !#4 at the age o& 5, with a capital investment o& 3s 22,222 borrowed &rom his &ather' 0is &irst business was to make cranksha&ts &or local bic*cle manu&acturers' In !52 he sold his bic*cle parts and *arn &actories and moved to Mumbai' (he importing o& telecom e6uipment was banned b* the Indian ,overnment as I(I 7Indian (elecom Industr*8 monopol* practices 1 sole O9M &or %epartment o& (elecommunication' 0e established the &irst compan* to manu&acture push button telephones in India' 0e was one o& the &irst Indian entrepreneurs to identi&* the mobile telecom business as a ma/or growth area and launched services in the cit* o& %elhi and the :ational $apital 3egion in the *ear !!"' Awards Sunil has received several awards including; (rans&orming India -eader, :%(< Business -eader Awards 2225' ,SMA $hairman+s Award 2225 .adma Bhushan in 222#, &rom the .resident o& India Asia Businessman o& the =ear, >ortune Maga?ine 2224 (elecom .erson o& the =ear, <oice 1 %ata, 2224 $9O o& the *ear 222", at the >rost and Sullivan Asia .aci&ic I$( awards 2224 Best Asian (elecom $9O, (elecom Asia Awards 222" Best $9O, India, Institutional Investor, 222" Business -eader O& (he =ear, 9conomic (imes, 222" 9rnst 1 =oung 9ntreprener O& (he =ear 222@, 9rnst 1 =oung

Sunil Bharti Mittal is the >ounder, $hairman and ,roup $9O o& Bharti 9nterprises, one o& IndiaAs leading business groups with interests in telecom, retail, &inancial services, realt* and agri-products' Bharti Airtel, a group compan* o& Bharti 9nterprises, is among the leading global telecom services providers with operations in Asia and A&rica' Bharti has /oint ventures with several global leadersB Singtel, Cal-Mart, ADA and %el Monte' Sunil started his career at 5 a&ter graduating &rom .an/ab )niversit* in India in !#4 and &ounded Bharti' (oda* he heads a success&ul enterprise which emplo*s over 32,222 people' Bharti Airtel, the &lagship group compan*, has a market capitali?ation o& over )SE 32 billion' Sunil has been recogni?ed with the .adma Bhushan, one o& IndiaAs highest civilian awards' 0e has also been con&erred the -al Bahadur Shastri :ational Award &or 222!' 0e is a member o& the .rime Minister+s $ouncil on (rade 1 Industr* and serves on its Sub-$ommittee on .romoting >inancial Inclusion' 0e served as the .resident o& the $on&ederation o& Indian Industr* 7$II8, the premier industr* bod* in India 7222#-258' Sunil has been awarded the ,lobal 9conom* .ri?e 222! b* (he Fiel Institute, ,erman*' (he )S-India Business $ouncil has also honored him with G,lobal <isionA Award 2225' 0e has received the ,SM Association $hairman+s Award &or 2225' In 2224, he was chosen Asia Businessman o& the =ear b* >ortune and Asia .aci&ic $9O o& the =ear b* >rost 1 Sullivan' Sunil has been named Business -eader o& the =ear b* several important media houses, including (he 9conomic (imes, Business Standard, and :%(<' 0e was the 9rnst 1=oung 9ntrepreneur o& the =ear in 222@' 0e is also a member o& the Academ* o& %istinguished 9ntrepreneurs, Babson $ollege, Cellesle*, Massachusetts' Sunil was $o-chairman o& the Corld 9conomic >orum at %avos in 222# and is a member o& its International Business $ouncil' 0e is a member o& several premier international bodies H Board o& (rustees o& the $arnegie 9ndowment &or International .eace and the -eadership $ouncil o& (he $limate ,roup' Sunil is also on the (elecom Board o& the International (elecommunication )nion 7I()8, the leading ): Agenc* &or In&ormation and $ommunication (echnolog*' 0e is a $ommissioner o& the Broadband $ommission at I()' 0e is a member o& several business &orums including the India-)S $9O >orum, India-)F $9O >orum, India-Ital* $9O >orum, India- Iapan $9O >orum and India- Sri -anka $9O >orums' Sunil is associated with several world-class academic institutions - member o& the Board o& ,overnors o& Indian Institute o& Management 7IIM8 AhmadabadB member o& the 9Jecutive Board o& the Indian School o& BusinessB member o& the ,overning Bod* o& -ondon Business SchoolB member o& the %eanAs Advisor* Board o& 0arvard Business SchoolB member o& the $ambridge India .artnership Advisor* Board' Sunil believes that a responsible corporate has a dut* to give back to the communit* in which it operates' (his belie& has resulted in Bharti >oundation, which is operating 2@2 primar* schools and " Senior Secondar* Schools catering to over 32,222 under-privileged children in rural India' Sunil was ranked among the (op 2" .hilanthropists in the Corld in 222! b* the BarronAs Maga?ine' Sunil has been con&erred with the degree o& %octor o& -aws 70onoris $ausa8 b* the )niversit* o& -eeds, )F and the degree o& %octor o& Science 70onoris $ausa8 b* the ,ovind Ballabh .ant )niversit* o& Agriculture 1 (echnolog*' 0e is an 0onorar* >ellow o& (he Institution o& 9lectronics and (elecommunication 9ngineers' 0e is an alumnus o& 0arvard Business School, )SA'

)unil ?harti 5ittal is the biggest name in +ndian telecom. The man who built the brands of O?hartiO and O7irtelO and made them household names. The fact is that he has built a massive business empire from almost nothing. Today, )unil 5ittal&s sprawling corporate office is in the shadow of the Sutub 5inar. The positive undertone hits you as you enter the office. )atisfied employees are seen everywhereJ probably this is the business secret of the great )unil 5ittal. )unil&s parents were of different castes, which created uproar at that time. They were forced to adopt the surname of O?hartiO :they gave up their family name of 5ittal as they were ostraci'ed by their community;.

?ut later on, )unil reclaimed their family of O5ittalO, and came to be known as )unil ?harti 5ittal. )unilAs father was a 5ember of arliament, had always been in public life. ?ut right from a young age, )unil wanted to create a big mark for himself in the world of business. >hen he was $ust 1G, he started a small factory manufacturing cycle spare parts in @udhiana. 9e did this by borrowing Rs.2DDDD as capital. The business began to grow slowly and steadily but )unilAs sights were on something much larger. 7fter a few years, he shifted his base to #elhi. 9e started operating from #elhi and 5umbai, which had become the nation&s commercial capitals. 9e was conducting the business of importing products from abroad, and distributing them in local markets. +n 1CG3, )unil set up his first company, ?harti 9ealthcare, manufacturing capsules. ?ut the break that )unil was looking for came to him in a totally different and unexpected dimension.

7t that time, the +ndian government wanted to encourage indigenous manufacture of goods within the country itself. 7s a result of this, import of many products was banned, and this opened up a world of opportunity for +ndian entrepreneurs. )unil was !uick to identify this, and move forward. The telecom revolution was beginning, with push button telephones being introduced in the country. )unil saw the opportunity and set up a facility to manufacture push button telephones in +ndia. This was $ust the beginning, and the group moved into manufacture of 6ordless phones, answering machines, fax machines and others, soon after.

+n all these product segments, the ?harti group had been the first to launch them in +ndia. ?ut )unil 5ittal&s vision was wideJ he knew that the +ndian economy was at the threshold of becoming one of the largest emerging economies in the world. +n the early +CCDAs mobile phones were slowly becoming popular in the world. -nce again )unil sei'ed the opportunity and dived headlong into this business. The ?harti group launched the /7irtel1 brand of mobile telephone service in #elhi in 1CC4. Today, the 7irtel brand is the biggest mobile phone brand in the country. )unilAs foresight paid off, as the ?harti groupAs telecom business, worth Rs.12DD crores today, put him in the bracket of the richest people in the world. -nce when asked what he would attribute his success to, )unil replied, ORight from the beginning, ours was never a trading or money making mentality, but of wanting to be recogni'ed in our field and to establish a corporation. >e did things never tried before in +ndia. >e are very fair to the people we work with :suppliers, buyers, staff;. >e wanted to prove that even with meager capital we could do big things. 0ow a corporation, we are working to make it an institution.O 7n excellent initiative in the ?harti management is that all employees own stocks of the company. They, therefore have a sense of belonging. There is no Oowner*workerO kind of feeling that prevails in the ?hartiAs corporate environment. 7nd the popular O9ire and 3ireO policy does not exist in his company either. )o each individual is motivated and works towards the common goal including his ones. )unil has not neglected his role towards society. The ?harti group is conscious about their social obligations and has set up the O?harti 3oundationAA, which works towards furthering the cause of education. +n 5adhya radesh, they have funded over 4D schools, which are in rural and semi urban locations. They have also donated Rs. 2D crores to ++T #elhi for building a ?harti )chool of Technology and 5anagement.

-n the personal side, )unil is an ardent family man. 9e has a daughter and twin sons. 9e spends !uality time with them whenever he can spare time from his hectic schedule. 9e meditates and chants mantraAs every morning, besides yoga and exercise. 9e once said /9aving a positive frame of mind can help overcome extremely bad situations.1 7mid all this pressure, how does he relaxK /+ used to play golf before, now sometimes + play tennis. ?ut + thrive on my work. 3or me, work is love, not stress. ?ut + wonAt say thereAs no stress. 7s you come to the top of the pyramid, the intensity of competition, of $ealousy, is high,1 says )unil ?harti 5ittal. In 5uly @==?, Sunil attracted many key e*ecutives from .eliance / /6, )IS Sparta and created 3harti !omtel. In )ovember @==?, he struck a 1oint venture deal with #al( Mart, the -S retail giant, to start a number of retail stores across India. %oday, the 3harti group has a turnover of -SEF billion. 4n &ebruary >G, @==<, Sunil 3harti Mittal was awarded the 6SM /ssociation !hairmanBs /ward @==<. %his /ward, which is the highest honour in the global telecom sector, was conferred on him for his tremendous contribution to the development of India's telecom sector. %ruly, his vision has transformed the lives of millions across India.

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