Brexit: An Unlikely Exit
Exits or potential exits seem to be the flavour of the season. First a hue and cry was raised (and rightly so), over the state of Greece’s economic affairs and its impending exit from the EU followed by a Scottish referendum on whether to leave the UK. The latest in this saga was Britain’s decision to weigh the pros and cons of its association with the EU, with the “nay” vote being termed as “Brexit”. After keeping the world on tenterhooks, the UK has now voted to leave the EU in what was termed as the most consequential decision British voters made in a generation. The “Leave” camp emerged victorious with a 51.9%-48.1% margin. This article attempts to crystallize some of the issues on which the fight was fought. The EU (including the UK), is a bloc of 28 nations in Europe which has sought to create a single market for free movement of people goods and workers. The UK joined this bloc in 1973. It held a referendum in 1975 for its continued association of the “Common Market” and was endorsed by 67 % of affirmative votes. The UK, however, is not a part of the Eurozone, a congeries of 19 nations that use the Euro as the sole tender. Eurosceptics ran a successful campaign to keep the UK out of the Eurozone when the Euro was launched in 1999. So, the UK continues to use the pound. It is these Eurosceptics who spearheaded the campaign for the UK to leave the EU. The “Leave” camp, championed by the likes of former London mayor Boris Johnson, felt that continued membership of the EU was costly, saddled the country with burdensome regulations and curbed the UK’s ability to regulate immigration. On an average, the UK now accepts 500 EU-immigrants daily. Immigration of skilled workers from low wage countries in the EU to their richer counterparts like the UK has been blamed for driving down wages and causing unemployment or underemployment in the domicile population. Sceptics viewed the prudery of the EU with disdain. The EU’s original aim was, in the words of Lord Lawson, former Chancellor of the Exchequer, “to cage the German tiger in a European cage”. They feel that what was supposed to be essentially a trading bloc now wields too much power spanning law, immigration, security and justice. It has assumed a supranational stature, undermining the British government’s policies in London. The Brexit debate had been characterized by political invective from both sides with the “Remain” camp accusing the “Leave” camp of fear mongering and spreading lies. Nigel Farage, the blatantly anti –EU UKIP leader, highlighted the dangers of uncontrolled immigration. He also raised a red flag over the EU’s fast-tracking of Turkey’s membership calling the move “damned dangerous”. The “Remain” camp argued that leaving the union would have unforeseen consequences with regard to national and economic security as no member state has ever left the union before. The “Remain” camp with the likes of British PM, David Cameron, contended that a Brexit will give rise to an era of uncertainty that may see the pound whiplashed by winds of unpredictability. UK’s exit will mean the country will return to WTO rules which imply 10% tariff on exports which will hurt the bottom lines of British companies. Interestingly, the EU accounts for about 45% of the UK’s exports. The UK is seen as a gateway to Europe. With the 2 identities set to become distinct, champions of the “Remain” campaign see a decline in tourism and other allied benefits. Indian interests are inextricably linked with the fortunes of the British economy. There are more than 800 registered Indian companies employing over 110000 employees in the UK. Indian investments are the 3rd largest in the UK. Turnover of the largest Indian companies has risen by 18 % in 2016 to 26 billion pounds. However, industry captains warn that inward investments from India may be affected if the attractiveness of border-free access to the EU diminishes. Another sensitive issue is that of Indian students who are classified as immigrants. A Brexit government’s efforts to curb immigration may see the axe fall on Indian students as well with measures like the 2012 withdrawal of post work visas becoming more stringent. “Leave” campaigners have been trenchant in their criticism of the occlusive nature of the EU with regard to British policies. The “Remain” camp was equally vociferous about the advantages of staying put. Either way, public opinion was split, making an outcome hard to predict. The “Leave” camp’s razor thin margin of victory has sent world markets into a tailspin. It has claimed its first victim – incumbent PM Cameron’s mea culpa means he will step down in October. The divorce will not be immediate. Negotiations ranging from trade policies to the status of Europeans living in the UK will need to be trashed out. This process is likely to take years. While Northern Ireland and Scotland voted to remain in the EU, Wales and England opted out. It just goes to show that he United Kingdom is far from”United”. ------- About the Author: Saikat Gupta, is a student of NITIE, Mumbai, PGDIM batch 22, and a media relations cell coordinator.
NITIE Mumbai (Since 1963)
Myths Of An Engineer-MBA Aspirant
Close to 2 Lakh aspirants write various MBA entrance exams like CAT,XAT, IIFT, etc. A good chunk, almost 80-85%, of these aspirants comprises of engineering graduates. Similar pattern follows in almost all B-schools. I belong to this chunk and the aprehensions that follow when an engineer decides to change his path and pursue MBA are only too many. Hopefully, by the end of this article, you will have less apprehensions than you did before.
NITANSHI Agarwal
Effects Of BREXIT
The European Union emerged in 1951 in order to mitigate the effects of World War 2 by facilitating duty free trade among the nations belonging to the European Union. The consortium initially constituted only six nations. It was initially only a coal and steel community, and later in 1957 the treaty of Rome created the ‘European economic community’. Britain however joined the community later in 1973. And in the aftermath of joining the group they went through a referendum in 1975, in order to decide whether or not to stay in the group, and, subsequently was part of Eurozone as majority were in favour of being a part of it.
Chinmay Kadoo
Alumni Report 2016 – Consumer Goods
This is the fourth edition of the annual Alumni Report on InsideIIM.com. This is part 4 of this year’s series. You can find other parts (Finance, Tech, Consulting) of the 2016 series here.
Team InsideIIM
ISB Calling – Mid Career Professionals Take The MBA Leap
Sourav Bhattacharya, an IT Consultant working on a project for a leading bank in Singapore, had this unfulfilled dream of making it to a top tier B School which has global footprints and after doing much research decided to apply to a few top B Schools in Singapore, India and the US. Come April, Sourav landed into the hallowed portals of the prestigious Indian School of Business. ISB has two integrated campuses at Hyderabad and Mohali under the One School Two Campus theme. Sourav left his job at Singapore and consciously decided on selecting ISB because of its course delivery, faculty and academic pedigree. His choice was made easy by the fact that ISB featured in top 20-30 B Schools of the globe as per the prestigious Financial Times Rankings. Agniv Datta, a Young Leaders Programme admit belongs to Durgapur and is a graduate of IIT Roorkee. Agniv has an intention to start up his own venture in the future and he chose ISB for the networking opportunities he would get here. Take the case of Vivek Kar, a passout of the reputed Goenka College of Commerce, Calcutta, who was working for TATA group, decided to venture into the MBA domain and passed out of ISB, in 2016 last year. Vivek is now working in the strategy team of Economic Development Board of the Andhra Pradesh Government, as a Chief Ministers Fellow which will run under the Strategic unit of Chandrababu Naidu Government. Trina Datta another student from the PGP 2017 batch, did her graduation from the prestigious Presidency College Calcutta made it here after securing a top GMAT score. Sanchay Maity, a Chartered Account and rank holder in CMA , worked at CESC for considerable years before making the cut at ISB. Giving company to Sanchay is Gaurav Pansari , a graduate of St Xaviers College Calcutta and a Chartered Accountant. Gaurav was working with Britannia for nearly 4 years before joining ISB. Rounak Poddar, a national rank holder in CA examinations gives company to Gaurav being from the same alma mater, St Xaviers Calcutta. Rounak is actively involved in social initiatives and has been the founder of an NGO himself. Avinash Dhanuka , a graduate of the prestigious Indian School of Mines (now IIT) , left his job at Coal India after working for over 5 years to embark on a new journey at ISB. Most of them took ISB in comparison to foreign B schools and other Indian B schools due to reasons such as – better return on Investment, being a one year programme, research orientation of the b school, good faculty from India and abroad, better peer group learning with students coming in from diverse sectors and industries and the institute being a reputed global brand. Pranamita Basu, who worked in ITC for almost 7 years after doing her engineering from NIT Rourkela, joined ISB with a scholarship. Crossing the seas, Toofan Datta, an Electrical Engineer from Jadavpur University was on a project working with Infosys at Houston and made it with over 9 year of experience. He applied to the the top foreign universities and ISB and finally made it here. Sankha Mondal, who did his schooling from Narendrapur Ramkrishna Mission worked for over 6 years as a Decision Scientist with Analytics firm Transunion before making it till here. Sankha is also a trained Tabla and Synthesizer player. Soumik De, a passout of Jadavpur University where he did his Instrumentation and Electronics engineering left his job at GAIL, and joined the ISB. Anisha, who joined ISB this year decided to fly back to India leaving her job at Adidas in Singapore, which she started after completing her graduation from Singapore Management University. Anirudha Jalan who did his BSc in Finance from University of Illinois at Urbana-Champaign worked in the Investment Banking division at Morgan Stanley in New York before deciding on a homecoming and is now studying at the ISB. Shreya Keyal, a graduate of the reputed UCL, London, majored in Economics before she applied for ISB. Varsha Pincha, who did her Computer Science Engineering from Jadavpur University belongs to the younger lot like Ankana with around 2 years of experience before making the cut. Let us take the case of Ankana Ghatak, who went to Shri Ram College of Commerce worked at Deloitte Consulting before deciding on the MBA programme at ISB. Joining with her is Khushbu Goenka who has also a bachelors from SRCC and has nearly 4 years work experience. Srishti Bhaduri, who did her graduation from St Stephens and IIT Delhi is now a student at the ISB . Not only Indians, there are foreign students from countries like South Korea. Sang Ho, a graduate of the Pukyong National University, Korea has joined ISB as this was his best bet in Asia and on top of his list. ISB, both at its Hyderabad and Mohali campuses ( as per the one school two campus theme) is a favourite hunting grounds for some of the brightest engineers from institutes like IITs, NITs, BITS Pilani, UDCT and the likes. Avinish Mittal, an IIT Delhi graduate from Delhi who has his own start up venture took the ISB plunge this season , similarly Ravnish Bagga from IIT Roorkee, left his job at Schlumberger to take up the PGP programme of ISB. Take these NIT graduates Amit Giri and Harsha Karanth , both working in reputed companies like Tata Steel and BHEL, made the cut here. Nekman Verma, a student at ISB was working at CISCO after graduating from IIT Bombay, when he decided to hit the acceleration button and hit the circuit. Pavika Singh, a passout of the prestigious UDCT, Bombay and the current President of Media Council, chose ISB over some top US B schools to remain closer home and get the best world class experience within India. When the government is talking about Make in India, why not flock an institute in the country which maintains global standards. Sportsmen are not left behind. Rohan Chakraborty who did his engineering from Jadavpur University has been a regular at the national level Table Tennis championships. Then there are students who already have patents like Shraddha Agarwal. She is also a CFA level 2 candidate. For Sourabh Nolkha, leaving a high paying Job in US did not matter when the opportunity for learning knocked at the door. A chartered accountant by profession and having worked in companies like Deloitte and Infosys, ISB was a dream destination. Shyam Nambiar, an ardent Marathon Runner, hanged his boots as a Navy Commander and with substantial work experience spanning over 16 years made his way to ISB. He is a graduate of IIT Delhi. In this race Doctors are not left behind. Punit Sar, a dentist from Odhisa by profession has the passion to start up his own venture and set his eyes on ISB, to give him the much needed platform. What sets ISB apart is its faculty and research methodology. You will be solving some of the trickiest Statistics questions under the guidance of world class Profs from Wharton, University of Pennsylvania, or Kellogg. Whether its Statistics, Economics, Marketing, Finance, Strategy, the faculty is top notch drawn from across the globe from the finest of the brands. Its like you going to US College in India. Adding on to this ISB is an institute which takes students who have had work experience and thus the class learning is experiential and intellectually stimulating. The Harvard Case studies or the Live projects - you have a whole Planet to explore here. ISB is reaching staggering heights of success globally. Ranked amongst the top 30 B schools across the Globe (as per the prestigious Financial Times Global MBA Rankings 2016) ISB (Indian School of Business), has been able to carve a niche for itself. This success of ISB makes it easier for the professional to take the plunge and a pursue their MBA dreams at this coveted place.
RAHINE BOSE
7 Traits Of Elon Musk Which Set Him Apart - Strategy With RS
Elon Musk is a strong contender for the throne vacated by Steve Jobs. He is creating a world in which the world is likely to reside in future. It makes sense to get an insight into how Elon Musk thinks.
Rajesh Srivastava
How Can Gandhi Save The Millennials
Every month, a million young people enter the workforce. That is 15 people per second. By the time you reach the end of this article, we will need another 60 new jobs. And this is going to continue for many years now.
Abhishek Thakore
Brexit: An Unlikely Exit
Exits or potential exits seem to be the flavour of the season. First a hue and cry was raised (and rightly so), over the state of Greece’s economic affairs and its impending exit from the EU followed by a Scottish referendum on whether to leave the UK. The latest in this saga was Britain’s decision to weigh the pros and cons of its association with the EU, with the “nay” vote being termed as “Brexit”. After keeping the world on tenterhooks, the UK has now voted to leave the EU in what was termed as the most consequential decision British voters made in a generation. The “Leave” camp emerged victorious with a 51.9%-48.1% margin. This article attempts to crystallize some of the issues on which the fight was fought. The EU (including the UK), is a bloc of 28 nations in Europe which has sought to create a single market for free movement of people goods and workers. The UK joined this bloc in 1973. It held a referendum in 1975 for its continued association of the “Common Market” and was endorsed by 67 % of affirmative votes. The UK, however, is not a part of the Eurozone, a congeries of 19 nations that use the Euro as the sole tender. Eurosceptics ran a successful campaign to keep the UK out of the Eurozone when the Euro was launched in 1999. So, the UK continues to use the pound. It is these Eurosceptics who spearheaded the campaign for the UK to leave the EU. The “Leave” camp, championed by the likes of former London mayor Boris Johnson, felt that continued membership of the EU was costly, saddled the country with burdensome regulations and curbed the UK’s ability to regulate immigration. On an average, the UK now accepts 500 EU-immigrants daily. Immigration of skilled workers from low wage countries in the EU to their richer counterparts like the UK has been blamed for driving down wages and causing unemployment or underemployment in the domicile population. Sceptics viewed the prudery of the EU with disdain. The EU’s original aim was, in the words of Lord Lawson, former Chancellor of the Exchequer, “to cage the German tiger in a European cage”. They feel that what was supposed to be essentially a trading bloc now wields too much power spanning law, immigration, security and justice. It has assumed a supranational stature, undermining the British government’s policies in London. The Brexit debate had been characterized by political invective from both sides with the “Remain” camp accusing the “Leave” camp of fear mongering and spreading lies. Nigel Farage, the blatantly anti –EU UKIP leader, highlighted the dangers of uncontrolled immigration. He also raised a red flag over the EU’s fast-tracking of Turkey’s membership calling the move “damned dangerous”. The “Remain” camp argued that leaving the union would have unforeseen consequences with regard to national and economic security as no member state has ever left the union before. The “Remain” camp with the likes of British PM, David Cameron, contended that a Brexit will give rise to an era of uncertainty that may see the pound whiplashed by winds of unpredictability. UK’s exit will mean the country will return to WTO rules which imply 10% tariff on exports which will hurt the bottom lines of British companies. Interestingly, the EU accounts for about 45% of the UK’s exports. The UK is seen as a gateway to Europe. With the 2 identities set to become distinct, champions of the “Remain” campaign see a decline in tourism and other allied benefits. Indian interests are inextricably linked with the fortunes of the British economy. There are more than 800 registered Indian companies employing over 110000 employees in the UK. Indian investments are the 3rd largest in the UK. Turnover of the largest Indian companies has risen by 18 % in 2016 to 26 billion pounds. However, industry captains warn that inward investments from India may be affected if the attractiveness of border-free access to the EU diminishes. Another sensitive issue is that of Indian students who are classified as immigrants. A Brexit government’s efforts to curb immigration may see the axe fall on Indian students as well with measures like the 2012 withdrawal of post work visas becoming more stringent. “Leave” campaigners have been trenchant in their criticism of the occlusive nature of the EU with regard to British policies. The “Remain” camp was equally vociferous about the advantages of staying put. Either way, public opinion was split, making an outcome hard to predict. The “Leave” camp’s razor thin margin of victory has sent world markets into a tailspin. It has claimed its first victim – incumbent PM Cameron’s mea culpa means he will step down in October. The divorce will not be immediate. Negotiations ranging from trade policies to the status of Europeans living in the UK will need to be trashed out. This process is likely to take years. While Northern Ireland and Scotland voted to remain in the EU, Wales and England opted out. It just goes to show that he United Kingdom is far from”United”. ------- About the Author: Saikat Gupta, is a student of NITIE, Mumbai, PGDIM batch 22, and a media relations cell coordinator.
NITIE Mumbai (Since 1963)
Myths Of An Engineer-MBA Aspirant
Close to 2 Lakh aspirants write various MBA entrance exams like CAT,XAT, IIFT, etc. A good chunk, almost 80-85%, of these aspirants comprises of engineering graduates. Similar pattern follows in almost all B-schools. I belong to this chunk and the aprehensions that follow when an engineer decides to change his path and pursue MBA are only too many. Hopefully, by the end of this article, you will have less apprehensions than you did before.
NITANSHI Agarwal
Effects Of BREXIT
The European Union emerged in 1951 in order to mitigate the effects of World War 2 by facilitating duty free trade among the nations belonging to the European Union. The consortium initially constituted only six nations. It was initially only a coal and steel community, and later in 1957 the treaty of Rome created the ‘European economic community’. Britain however joined the community later in 1973. And in the aftermath of joining the group they went through a referendum in 1975, in order to decide whether or not to stay in the group, and, subsequently was part of Eurozone as majority were in favour of being a part of it.
Chinmay Kadoo
Alumni Report 2016 – Consumer Goods
This is the fourth edition of the annual Alumni Report on InsideIIM.com. This is part 4 of this year’s series. You can find other parts (Finance, Tech, Consulting) of the 2016 series here.
Team InsideIIM
ISB Calling – Mid Career Professionals Take The MBA Leap
Sourav Bhattacharya, an IT Consultant working on a project for a leading bank in Singapore, had this unfulfilled dream of making it to a top tier B School which has global footprints and after doing much research decided to apply to a few top B Schools in Singapore, India and the US. Come April, Sourav landed into the hallowed portals of the prestigious Indian School of Business. ISB has two integrated campuses at Hyderabad and Mohali under the One School Two Campus theme. Sourav left his job at Singapore and consciously decided on selecting ISB because of its course delivery, faculty and academic pedigree. His choice was made easy by the fact that ISB featured in top 20-30 B Schools of the globe as per the prestigious Financial Times Rankings. Agniv Datta, a Young Leaders Programme admit belongs to Durgapur and is a graduate of IIT Roorkee. Agniv has an intention to start up his own venture in the future and he chose ISB for the networking opportunities he would get here. Take the case of Vivek Kar, a passout of the reputed Goenka College of Commerce, Calcutta, who was working for TATA group, decided to venture into the MBA domain and passed out of ISB, in 2016 last year. Vivek is now working in the strategy team of Economic Development Board of the Andhra Pradesh Government, as a Chief Ministers Fellow which will run under the Strategic unit of Chandrababu Naidu Government. Trina Datta another student from the PGP 2017 batch, did her graduation from the prestigious Presidency College Calcutta made it here after securing a top GMAT score. Sanchay Maity, a Chartered Account and rank holder in CMA , worked at CESC for considerable years before making the cut at ISB. Giving company to Sanchay is Gaurav Pansari , a graduate of St Xaviers College Calcutta and a Chartered Accountant. Gaurav was working with Britannia for nearly 4 years before joining ISB. Rounak Poddar, a national rank holder in CA examinations gives company to Gaurav being from the same alma mater, St Xaviers Calcutta. Rounak is actively involved in social initiatives and has been the founder of an NGO himself. Avinash Dhanuka , a graduate of the prestigious Indian School of Mines (now IIT) , left his job at Coal India after working for over 5 years to embark on a new journey at ISB. Most of them took ISB in comparison to foreign B schools and other Indian B schools due to reasons such as – better return on Investment, being a one year programme, research orientation of the b school, good faculty from India and abroad, better peer group learning with students coming in from diverse sectors and industries and the institute being a reputed global brand. Pranamita Basu, who worked in ITC for almost 7 years after doing her engineering from NIT Rourkela, joined ISB with a scholarship. Crossing the seas, Toofan Datta, an Electrical Engineer from Jadavpur University was on a project working with Infosys at Houston and made it with over 9 year of experience. He applied to the the top foreign universities and ISB and finally made it here. Sankha Mondal, who did his schooling from Narendrapur Ramkrishna Mission worked for over 6 years as a Decision Scientist with Analytics firm Transunion before making it till here. Sankha is also a trained Tabla and Synthesizer player. Soumik De, a passout of Jadavpur University where he did his Instrumentation and Electronics engineering left his job at GAIL, and joined the ISB. Anisha, who joined ISB this year decided to fly back to India leaving her job at Adidas in Singapore, which she started after completing her graduation from Singapore Management University. Anirudha Jalan who did his BSc in Finance from University of Illinois at Urbana-Champaign worked in the Investment Banking division at Morgan Stanley in New York before deciding on a homecoming and is now studying at the ISB. Shreya Keyal, a graduate of the reputed UCL, London, majored in Economics before she applied for ISB. Varsha Pincha, who did her Computer Science Engineering from Jadavpur University belongs to the younger lot like Ankana with around 2 years of experience before making the cut. Let us take the case of Ankana Ghatak, who went to Shri Ram College of Commerce worked at Deloitte Consulting before deciding on the MBA programme at ISB. Joining with her is Khushbu Goenka who has also a bachelors from SRCC and has nearly 4 years work experience. Srishti Bhaduri, who did her graduation from St Stephens and IIT Delhi is now a student at the ISB . Not only Indians, there are foreign students from countries like South Korea. Sang Ho, a graduate of the Pukyong National University, Korea has joined ISB as this was his best bet in Asia and on top of his list. ISB, both at its Hyderabad and Mohali campuses ( as per the one school two campus theme) is a favourite hunting grounds for some of the brightest engineers from institutes like IITs, NITs, BITS Pilani, UDCT and the likes. Avinish Mittal, an IIT Delhi graduate from Delhi who has his own start up venture took the ISB plunge this season , similarly Ravnish Bagga from IIT Roorkee, left his job at Schlumberger to take up the PGP programme of ISB. Take these NIT graduates Amit Giri and Harsha Karanth , both working in reputed companies like Tata Steel and BHEL, made the cut here. Nekman Verma, a student at ISB was working at CISCO after graduating from IIT Bombay, when he decided to hit the acceleration button and hit the circuit. Pavika Singh, a passout of the prestigious UDCT, Bombay and the current President of Media Council, chose ISB over some top US B schools to remain closer home and get the best world class experience within India. When the government is talking about Make in India, why not flock an institute in the country which maintains global standards. Sportsmen are not left behind. Rohan Chakraborty who did his engineering from Jadavpur University has been a regular at the national level Table Tennis championships. Then there are students who already have patents like Shraddha Agarwal. She is also a CFA level 2 candidate. For Sourabh Nolkha, leaving a high paying Job in US did not matter when the opportunity for learning knocked at the door. A chartered accountant by profession and having worked in companies like Deloitte and Infosys, ISB was a dream destination. Shyam Nambiar, an ardent Marathon Runner, hanged his boots as a Navy Commander and with substantial work experience spanning over 16 years made his way to ISB. He is a graduate of IIT Delhi. In this race Doctors are not left behind. Punit Sar, a dentist from Odhisa by profession has the passion to start up his own venture and set his eyes on ISB, to give him the much needed platform. What sets ISB apart is its faculty and research methodology. You will be solving some of the trickiest Statistics questions under the guidance of world class Profs from Wharton, University of Pennsylvania, or Kellogg. Whether its Statistics, Economics, Marketing, Finance, Strategy, the faculty is top notch drawn from across the globe from the finest of the brands. Its like you going to US College in India. Adding on to this ISB is an institute which takes students who have had work experience and thus the class learning is experiential and intellectually stimulating. The Harvard Case studies or the Live projects - you have a whole Planet to explore here. ISB is reaching staggering heights of success globally. Ranked amongst the top 30 B schools across the Globe (as per the prestigious Financial Times Global MBA Rankings 2016) ISB (Indian School of Business), has been able to carve a niche for itself. This success of ISB makes it easier for the professional to take the plunge and a pursue their MBA dreams at this coveted place.
RAHINE BOSE
7 Traits Of Elon Musk Which Set Him Apart - Strategy With RS
Elon Musk is a strong contender for the throne vacated by Steve Jobs. He is creating a world in which the world is likely to reside in future. It makes sense to get an insight into how Elon Musk thinks.
Rajesh Srivastava
How Can Gandhi Save The Millennials
Every month, a million young people enter the workforce. That is 15 people per second. By the time you reach the end of this article, we will need another 60 new jobs. And this is going to continue for many years now.
Abhishek Thakore