Rooted Maps

Pankaj Ghemawat is currently a Professor of Global Strategy at IESE Business School and Between 1983 and 2008, was on the faculty at the Harvard Business School where, in 1991, he became the youngest person in the school's history to be appointed a full professor.

In this article he writes of how we can shake up our thinking by looking at the world from the perspective of a particular country, industry, or company. He introduces the concept of “Rooted” maps and how they can help one unearth hidden opportunities and threats.

Maize: A wonder crop?

Maize is being given importance, both by farmers and seed companies with overt support of some state governments. An interesting plug is that it is the crop of the future.

A lot of farmers are turning to it entranced by the higher productivity of hybrid varieties. While it may be good for individual farmers, the question is whether it is good for our food security. The reason Food Security comes into play is because Maize is a commercial crop that is not used all that much as a food crop. Now with the shrinking acreage of millets and other staple foods of small farmers on account of the generous subsidies given to maize this issue is definitely one that has to be debated.

Lurking behind this issue is the issue of GM Maize being introduced in India once farmers are sufficiently enamoured of Maize. Here is a detailed report on these issues. And another one on the maize issue in Mexico.

Burgernomics

Burgernomics is based on the theory of purchasing-power parity (PPP), the notion that in the long run exchange rates should move towards the rate that would equalise the prices of an identical basket of goods and services (in this case, a burger) in any two countries.

THE Big Mac index "invented" by The Economist in 1986 is a fun way of checking whether currencies are at their “correct” level and is a tool to make exchange-rate theory more digestible.

For the first time, they have included India in their survey. Since McDonald’s does not sell Big Macs here in India, The Economist has taken the price of a Maharaja Mac for its calculation. It indicates that the rupee is 53% undervalued and therefore the Implied PPP of the US dollar would be Rs 20.70 only.

Indian Summary - Link from the Economist

Here is an interesting, interactive post in the Economist comparing states to different countries in the world. They have missed out three Union Territories in the map - Lakshadweep, Dadra & Nagar Haveli and Daman & Diu and have messed up the J&K map. Forgivable - the Economist is British after all.

If you ignore these rather egregious errors then the map is rather interesting. So do take a look if only for a bit of intellectual 'fun'.

http://www.economist.com/content/indian-summary

Have fun,

Ciao

Reading Comprehension

I intend to post interesting articles/passages to help with the preparation for the RC section once again. The passages will be as diverse as possible and will try to make it as relevant to CAT.

The following passage is a translation of the common piece of text used as mock- content when testing a given page layout or font - "Lorem ipsum dolor sit amet ....."

"But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?

On the other hand, we denounce with righteous indignation and dislike men who are so beguiled and demoralized by the charms of pleasure of the moment, so blinded by desire, that they cannot foresee the pain and trouble that are bound to ensue; and equal blame belongs to those who fail in their duty through weakness of will, which is the same as saying through shrinking from toil and pain. These cases are perfectly simple and easy to distinguish. In a free hour, when our power of choice is untrammelled and when nothing prevents our being able to do what we like best, every pleasure is to be welcomed and every pain avoided. But in certain circumstances and owing to the claims of duty or the obligations of business it will frequently occur that pleasures have to be repudiated and annoyances accepted. The wise man therefore always holds in these matters to this principle of selection: he rejects pleasures to secure other greater pleasures, or else he endures pains to avoid worse pains."

Quiz Circuit

Quiz Circuit: Business Leader's - Answers

Who is the CEO of ACC Limited?
Mr Kuldip K Kaura

Who is Onne van der Weijde?
MD of AMBUJA CEMENT

Which region in Airtel does Sanjay Kapoor head?
Sanjay Kapoor, CEO (India & South Asia)

Shikha Sharma is the CEO & MD of Axis Bank. Who is the Chairman?
Dr. Adarsh Kishore

Who is the CMD of BPCL?
Shri. R. K. Singh

Rahul Dhir is the CEO of which Energy company?
CAIRN INDIA

Who is the MD of CIPLA?
Dr. Y.K. Hamied

Dr. Kushal Pal Singh is the chairman of which company?
DLF Ltd.

G V Prasad and Satish Reddy. Which company springs to your mind when I refer to these two gentlemen?
DR. REDDY`S Laboratories. G V Prasad is the CEO and Satish Reddy is the MD.

Who is the CEO of HCL Tech?
Vineet Nayar

Who is the MD of HDFC Bank?
Mr. Aditya Puri

Mr. Brijmohan Lall Munjal is the Chairman of Hero Honda. Who is the CEO?
Mr. Pawan Munjal

Who is the CEO of HUL?
Mr. Nitin Paranjpe

Who is the Chairman of Hindalco?
Mr. Kumar Mangalam Birla

Who is the MD of ICICI Bank?
Ms. Chanda D. Kochha

Of which organisation is Dr. Rajiv B. Lall the CEO & MD?
IDFC

What is NR Narayan Murthy's designation at Infosys?
Chairman of the Board and Chief Mentor

Who is Y C Deveshwar?
Chairman of ITC

Who is the Executive Vice Chairman and Managing Director of Jindal Steel and Power Ltd?
Mr. Naveen Jindal

Of which company is Dr. Tsutomu Une the chairman?
RANBAXY LABORATORIES

Quiz Circuit

Quiz Circuit: National Parks - Answers

1. Which National park enjoys protection under the Wildlife Protection Act of 1972 and was earlier the private shooting reserve of the Maharaja of Gwalior?
Madhav (Shivpuri) National Park

2. Which is considered to be Asia's largest inland salt-water lagoon?
Chilka Lake

3. Which animal has found a home at the Kaundinya Wildlife Sanctuary that is located in Andhra Pradesh?
The Elephant

4. Identify this National Park: It lies near our international border with Myanmar in Arunachal Pradesh and was declared a Tiger Reserve by the Government in 1983. It is only park in the World to have all the four species of big cats i.e. The Tiger, Leopard, Snow Leopard and the Clouded Leopard.
Namdapha National Park

5. This National Park is the only home to the highly endangered Hangul or Kashmir Stag. It is located near Srinagar.
Dachigam National Park

Quiz Circuit