Corporate News Update for the Day:

·          Hindustan Construction Company (HCC) reported a standalone net profit of Rs 5.39 crore in the December quarter as against a net loss of Rs 38.51 crore in the corresponding quarter of the previous financial year. Net sales, however, declined 14.7% to Rs 870.37 crore from Rs 1,020.75 crore. The company had an order backlog of Rs 13,388 crore in December, including Rs 2,040 crore of contracts bagged in the last quarter.
 ·          Siemens Ltd posted a modest 2.3% growth in net profit for quarter ending December at Rs 65.1 crore. Order growth was flat and sales was down 4% in the period.
 ·          Hero MotoCorp has reported a net profit of Rs 524 crore for the third quarter , up 7% compared with Rs 487 crore YoY. Net income from operations also rose three per cent to Rs 6,376 crore during the quarter against Rs 6,187 crore during the October-December quarter in 2012. The company sold 16.61 lakh units of two-wheelers during the last quarter compared with 15.73 lakh units in the same quarter of the previous year
 ·          Ashok Leyland launched two new Light Commercial Vehicles (LCVs) - PARTNER truck and MiTR, a LCV bus. The two products are expected to take on Tata and Eicher products in their respective segments. To strengthen the LCV portfolio further, it is planning to launch 3-4 variants of the current LCV products in the coming months. Localisation of these products are 97% and will be manufactured at Nissan and Ashok Leyland factories at Oragadam and Hosur respectively.
 ·          Bank of India's (BoI) net profit declined 27.08% to Rs 585.82 crore on 21.27% growth in total income to Rs 10866.29 crore in Q3 December 2013 over Q3 December 2012. BoI's ratio of gross NPAs to gross advances stood at 2.81% as on 31 December 2013. The ratio of net NPAs to net advances stood at 1.75% as on 31 December 2013. BoI's provisions and contingencies jumped 53.28% to Rs 1403.74 crore .

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Guest Introduction Speech on Inauguration Function of CRESCENDO 2013.. THE ULTIMATE SPORTS CHALLENGE FOR SCHOOL STUDENTS IN RAJKOT

CREATING A CULTURE FOR SUSTAINABILITY THROUGH B-SCHOOL LEARNING MODEL

CREATING A CULTURE FOR SUSTAINABILITY THROUGH B-SCHOOL LEARNING MODEL

An Final Paper

Submitted To

Rustomjee School of Business

For

Reflections A National Conference

On

Emerging Issues in Management

Authors:

Mr. Nishant C. Mehta                                                         Mr. Joy Dsouza

[DST, BBA, MBA]                                                                   [MBA, M.Com]

Asst. Professor,                                                                     Asst. Professor,

Christ Institute of Management                                           Christ Institute of Management

Email :nishantcmehta@gmail.com                                      joy_dsouza2010@yahoo.co.in

Cell: +91 96625 19612                                                        Cell: +91 99254 04510

Address:                                                                                Address:       

“Shree Siddheshvari”,                                                           Christ Institute of Management

Laxmanzula Street,                                                               Rajkot.

Dr. Yagnic Road,                                                                    Rajkot. Gujarat                      

Rajkot. Gujarat

CREATING A CULTURE FOR SUSTAINABILITY THROUGH B-SCHOOL LEARNING MODEL

Key Words: Inspiration, Innovation, Collaboration, Best HR Green Practices

Introduction

The word “Environment sustainability” has become a buzz in the current scenarios. Research scholars & organisation are started talking about its importance & its need in modern day business. Those who ignore it face the catastrophic effect and endanger its survival in long run.

The idea of developing a sustainable B-School was developed with lot of research & literature reviews. Most of the researchers talks about creating a sustainable organisation. Nobody has so far touched upon the concept of creating a sustainable B-school. The benefits attached to it are less known. We believe that the today’s students are tomorrow’s manager.  B-schools are becoming a nurturing ground of holistic development of management aspirants. With this focus in mind we go deeper in imbibing the concept of sustaining environment & society among students and academicians.

The student should be provided hands on exposure that helps them to be more sensitive to environmental & societal issues. The decision they make in near future would involve environmental management. Institution have always  proved a source of learning, with this objective in mind students should be well equipped to overcome the problem the world is facing i.e. environmental degradation. The institute should provide various examples through its processes that motivate student to develop innovative Green practices & policies.  

Organisations are becoming more conservation when it comes to environmental issues. They are redefining their processes & strategies to create a better workplace. Why can’t b-school which is a source of learning be a role model to create sustainable environmentally practices.

Objectives:

-          To highlight best practices in college that foster sustainability

-          To improve the quality of students by providing them experience of environment friendly

-          Creating a change in the perspective of today’s budding managers making it more sensitive towards societal & environmental issues.  

-          sustainable practices in colleges 

-          Employment branding labelling with best place to work.

-          Creating an environment friendly culture.

-          Leveraging the Green Initiatives

Today, economies are changing. World is becoming flatter. Organisation are undergoing transformation & implementing changes aimed at cost optimization. Growth of industries has resulted in tremendous increase in environmental pollutants.  

In this era of globalization, society demands organisations to be more responsible to its stakeholders. They are demanding more accountable for their actions. With the provision of making CSR contribution of 2% average annual profit for mandatory CSR activity have created a breakthrough in reshaping the organisation vision toward the welfare of the society. This has ignited a spark toward upliftment & development of the society.  Environmental norms are becoming stricter & any organisations found violating the norms are punished severely.

Organisations are moving toward renewable source of energy. This movement has received great recognition and appreciation from various industrialist, corporate thinker and management gurus. Banking on renewable source provides organisation an opportunity for long term sustainability. It is impossible to think of organisation existing without contributing any benefits towards the society.

With organisation becoming more sensitive to environmental imbalance, the responsibility lies with the organisation to create processes that are renewable in nature. In most organisations, the onus lies with the H.R. Manager to ensure all employees abide with this new vision.

A 2008 review from the University of Sheffield (Renwick et al, ‘Green HRM: A Review, Process Model and Research Agenda’) as well as a Green HRM AOM Connect Group established in 2009 suggest that the term “Green HRM” could become the umbrella term for this research.

The concept of Green HR has evolved in recent times. H.R. Managers who were termed as business partner are seeing themselves as pioneers of Green H.R. practices. There is a paradigm shift from economic value to environmental value. This has led to a quest of developing innovative processes and methods by leveraging renewable sources strategically termed as Green Initiatives.

At the 2009 Annual Meeting of the Academy of Management, which had as its theme “Green Management Matters”, papers were presented that linked HR functions such as performance management and recruitment to environmental management.

Today, organisations are facing challenge as how Green Initiative should be deployed that will ensure organisational sustainability in future.

(Integration of HRM with environmental management practices)

Recruitment = Job-fit environmental initiatives 

Most researchers have focused on Processes & techniques facilitating environmental projects.  Working on these lines Industrialist & government have introduced processes and/or products that are environmental friendly.

However, this study tries to uncover the role of Human Resource in promoting the spirit of Green initiative among the organisational member. It talks about the Employer Branding, Green Organisational citizenship and various other dimension that help in developing a culture among employees for innovative green practice.

(INSPIRATION = INNOVATION = COLLABORATION)

INSPIRATION:

Google growing its own fruits in the office.  It also provides hybrid cars working on eco fuel to its employee.

IKEA promotes Green initiative gifting employees bicycle on the occasion of Christmas. While another company pays employees initiatives for walking down to work.

Some MNC’s are recycling their waste generated from canteen. Employees are asked to bring their useless plastic bottles, empty cartridges, newspaper, etc  to office to recycle and the amount generated from these products are added to the CSR fund. The contaminated water is purified through RO plants goes back to circulation in form of pure water. Some organisations have been successful in generating office electricity through renewable sources.

Manufacturing companies have also recycling their scrap material & processing it to make it sellable.  Trade union are also encouraging the concept of green HR practices.

Contribution to the society & environmental are the key drivers that motivates an institute to adopt processes that benefits various stakeholders. By adopting this, the perception it gains stronger public image boosting  “Employment  Branding” proving  an opportunity of  best place to work with. The mission & vision statement depicts coherence of commitment in creating a better future boosting the stakeholder’s faith year after year.

Branding is as a most preferred choice for employment along with the most reliable institute to work. As per survey report of SHRM – Green Workplace, organisations that follow Green practices have found higher morale & low turnover rates among employees. Apart for attracting talent such Green practices have also proved as a major reason for retaining existing employees. Employees are more happier working & ensure a longer tenure with such organisation compared to those that don’t practice Green initiatives. The younger generation are further taking initiatives to develop sustainable environmental practices by participating in formulation of policies safeguarding the surrounding environment. 

Forming a team of enthusiastic Green innovators who displaying very high level of commitment. Providing them with proper resource to monitor & maintained such process in the institute.

Rewarding & recognising competent employees that develop Green process and create success stories and hosting in on the institute website.

Encouraging employees to host events & seminars for promoting “Green Initiative Campaigns”. Creating employees/employers Forum where Best Green practices are discussed and their feasibility for implementation are evaluated. These groups educated and train co-workers on reducing, reusing & recycling materials.

INNOVATION - BEST PRACTICES

1.  Creating a paperless system - Students

1.1  Virtual Interview: Online Admission & college selection process.

1.2  Online exams with multiple choices.

1.3  Assignment submission in softcopy with plagiarism report.

1.4  Emphasis on e-books.

1.5  Correspondence of information to students only through mails.

1.6  Educating & training students on process & practices on application of Environmental management. 

2. Creating a paperless System – staff

1.1.Maintaining online database of potential & existing staff members.

1.2.Online evaluation & monitoring of faculty performance with environmental initiatives as their KRA.

1.3.High emphasis of correspondence through mails for issuing circulars & notices.

1.4.Encouraging staff to use shared service rather than personal vehicle.

3. Reducing Carbon/Ecological footprints.

1.1  Installing solar panels on rooftops & parking area.

1.2  Replacing tube light with CFL bulbs.

1.3  Minimizing the use of AC conditioners. 

1.4  Emphasize on using electronic equipment’s that have 5 star energy saving ratings.

1.5  Installing recycling units: waste generating from canteen can be used as organic manure for fields. Creating handcrafts & products that can be reused or sold. Ex- carry bags, stylish mementos.

1.6  Encouraging members to bring their waste products such as used plastic bottles, cartridge , aluminium, glass, newspaper, etc. ;  utilizing the money generated from their sale for social purpose. 

1.7  Installing RO plant to circulate pure water in the whole campus.

1.8  Designing classrooms & staffrooms with provision to grow plants that purifies air.

4. Inspiring best practices.

1.1  Using social media such as Facebook, blogs, tweeters, etc to promote the  concepts of Green initiatives.

1.2  Banking on Alternative source of electricity – Solar, wind or bio-fuels.

1.3  Conducting Energy Audit at frequent intervals.

1.4  Reducing commutation by encouraging video conferencing. This technique can also be applied for paper presentation.

COLLABORATING

Green practices helps in reducing carbon credit which in turn reduces the overall cost. The success of the entire process depends on the commitment & continuous support of the top management. Executives & CEO (Trustees & Principals) would be the leaders who drive such Green initiatives throughout the organisation. These individuals would help in streamlining the process & channelizing the follow of efforts towards creation of sustainable environment.  With Government making it mandatory for corporates to spend 2% of their annual profit on CSR initiatives, it is golden opportunity for educational institute to step up and accept this challenge of creating an healthy working environment. 

Today organisations are in the race to accelerate strategies that brand themselves as ‘Green’. Along with GE, British petroleum has also joined the hands in creating a brand that fosters environment friendly practices. Companies like Timberland have engraved this initiative in their Mission statement. Some organisations go beyond the traditional approach and are providing employees with hybrid car to commute to work. 

With industry experts laying emphasis on Green initiatives, the search for talent that understand these values & take is to the next level are given due weightage at the time of recruitment.

Collaborating is a three step continuous process which is to be started and initiated by Trustees/ Principal of the college , and to transform the understanding the importance of environmental caring and its benefits to the employees and students of the college. These things become possible only when We can arrange continuous training programs or workshops which helps others understanding the importance of  pollution free environment.

Use of energy is an important aspect of the Green HR initiative. Through the use of alternative energies like Solar and Wind one can develop a distinct structure considering the total energy requirement of the organization. The use of wind energy and solar energy which is free organization can save millions of rupees spent on Electricity Bills over the years.

Although setup for a 100 MW setup of Solar Energy provider system costs in Crores , but if we consider the total requirement of the organization for the long period of time in that case this would be considered to be a very good investment option considering Cost – Benefit Analysis. Especially in case of Educational Institutes this option can be a fruitful for a growth and survival for a long period of time.

References:

(2007). Green Workplace- SHRM survey Brief. Society for Human Resource Management

(2012). HRM’s Role in Corporate Social and Environmental Sustainability. SHRM Foundation -Effective Practice Guidelines Series.

Jacob2, J. C. (2012). A Study of Green HR Practices and Its Effective Implementation in the organisation: A Review. International Journal of Business and Management; Vol. 7, No. 21; , 9.

Lizz Pellet, F. J. (2009). Creating A Sustainable HR Function for the Future. 20.

Mandip, G. (2012). Green HRM: People Management Commitment. Research Journal of Recent Sciences , 9.

Pallavi, M. (2012). Green HRM-Issues and Challenges. Global Research Analysis , 4.

Sudin, S. (2011). Strategic Green HRM: A proposed model that supports Corporate Environmental Citizenship. International Conference on Sociality and Economics Development , 5.

Admissions Open for Management Quota Seats

@ The Taj

Admissions Open for Masters in Applied Management

Colosseum 2013

Income Tax Exemptions under various sections : Assessment Year 2013-14

                           Income Tax Exemptions under various sections :  Assessment Year 2013-14

Sr No	Section	Details of deductions	Limit
1	80C	General deduction for investment in PPF,PF,Life Insurance, ULIP, Stamp duty on house, Fixed deposits for 5 years , bonds etc	Maximum Rs 1 ,00,000 is allowed.
2	80CCC	Deduction in case of contribution to pension fund. However, it should be noted that surrender value or employer contribution is considered income.	Maximum is Rs 1,00,000
3	80CCD	Deduction in respect to contribution to new pension scheme. Employees of central and others are eligible.	Maximum is sum of employer’s and employee’s contribution to the maximum : 10 % of salary.
5	80D	Medical insurance on self, spouse , children or  parents	Rs 15,000 for self , spouse & children
			Extra Rs 15,000 for insurance on parents. IF parents are above 65 years, extra sum should be read as Rs 20,000
			Thus maximum is Rs. 35,000 p.a.
6	80DD	For maintenance including treatment or insurance of physical disable dependent relatives	Rs 50,000 . In case disability is severe , the amount is Rs 1,00,000.
7	80DDB	For medical treatment of self or relatives suffering from specified disease	Acutal amount paid to the extent of Rs 40,000. In case of patient being Sr Citizen , amount is Rs 60,000
8	80E	For interest payment on loan taken for higher studies for self or education of spouse or children	Actual amount paid as interest and start from the financial year in which he /she starts paying interest and runs till the interest is paid in full.
9	80G	Donations to charitable institution	100% or 50% of amount of donation made to 19 entities (National defense fund , Prime minister relief fund etc. )
10	80GG	For rent paid.	This is only for people not getting any House Rent Allowance. Maximum is Rs 2000 per month.  Rule 11B is method of computation.
11	80GGA	For donation to entities in scientific research or rural development.	Only those tax payers who have no business income can claim this deduction .Maximum is equivalent to 100 % of donation.