Entrepreneurship concept for engineers series-1
Today India needs large no. of entrepreneurs because of dearth of jobs. It is a common misconception that someone who has completed his MBA degree can only become an entrepreneur. I would say that even Engineers should try and setup their own enterprise and hence become successful entrepreneurs. This article and its subsequent parts are mainly targeted for motivating the budding engineers to think creatively and start their own businesses because it is easy for engineers. Reason being engineers are eager for getting knowledge. Now whenever a person wants to learn new things then growth occurs and growth is an important factor for developing solid businesses. Before knowing about the process of starting a new business it is important to know that what is entrepreneurship? What is Entrepreneurship? Entrepreneurship is derived from French word “Entrependre” and German word “uternehmen” both referring to men taking endeavors. In simple words anyone who exhibits self development, creativity and risk taking characteristics can be called as an entrepreneur. Economist defines an Entrepreneur as the one who brings together resources, labor, material and other assets and increasing their value and also he introduces changes, innovation and a new order. But the Psychologists define an entrepreneur as the one who is typically driven by a psychological force, which creates a desire to attain something. According to someone: Entrepreneurship is spending some years of your life in a way that most people won’t to spend rest of your life like others can’t. According to Nolan Bushnell (entrepreneur) -“The true entrepreneur is a doer, not a dreamer.” According to Praveenben-” Entrepreneurship is like giving birth to a child. The women’s love of child overcomes the risk of life. The entrepreneur’s passion overcomes the risk of loss.” In the subsequent articles I will write that why engineers should try and become entrepreneurs and thee process of becoming an entrepreneur.
Tanuj Gupta
Entrepreneurship concept for engineers series-3
Process of becoming an Entrepreneur Till now I have explained the basic meaning of entrepreneurship and the reasons why an engineer should also try and become an entrepreneur. So, now the process of becoming an entrepreneur is discussed. Now once you have decided that now you want to become an entrepreneur then next step is first to think about the business that you want to start. This is definitely a challenging task because today you think of any new business you will find that someone else is already doing it. But definitely this is not impossible. If you do not have an idea of a completely unique field then try and think of a field that is not much explored. You can also merge two business ideas to create a new one. Once you have thought of a plan then you are ready to start. Further steps are arranging the capital. This is the toughest part. Next you need to find the right people who can team up with you to grow the business. Next is the time to act that is to apply the plans you have made and see their result. If the result is positive then you are good to go otherwise you need to reconsider your plans. So, formally we can divide the whole process into three different stages which are: 1. Birth: This stage basically involves fighting for existence and survival. Steps involved in this stage are establishing the company, finding customers and getting the money. 2. Breakthrough: It involves coping with growth and takeoff. Components of this stage are growing the company’s finances and making profit. 3. Maturity: Maturity means to manage the success, to enjoy the fruit of your hard work. At the same time it consists of investing wisely, staying flexible and continuously refining your strategy.
Entrepreneurship concept for engineers series-2
Why should engineers become Entrepreneurs? Once it is clear in the previous article that what is entrepreneurship so now it is appropriate to see why engineers should become entrepreneurs. One reason is: it is a well known fact that in nearly all the engineering colleges in India 100% placements are not achieved. Most of the students either go for some courses so that they can get jobs or they have to sit idle. So, instead of doing these things they can think of starting their own enterprises. In simple words if you cannot get a Job then you should try and create jobs. This is one of the main motive of starting a new enterprise. Remember that it is not that only those who cannot get placement should go for entrepreneurship but others too should think of doing it. Another reason is that it is easy to become an entrepreneur at such a young age. Reasons are: Youth is invulnerable, Youth is resilient, Young people have more confidence, they have minimum responsibility, they have better physical and emotional strength, they can easily take moderate and some high risks too and they are better prepared. Hence they have better ability to burn the candle at both ends.To prove this one can see the examples from the history of some successful young entrepreneurs across the world. Some young innovators are: Frank Carney- Pizza Hut, Michael Dell-Dell Computers, Kristy Taylor-SkincareRx.com, and Fred DeLuca- Subway. One another big reason is that engineers can solve problems. See new businesses are started whenever something is missing in the market. So problems arise in launching new businesses, engineers are educated to think logically and can easily solve the problems with standard procedures.
Chemical Engineering Internship advice series-3
Different companies, how to get selected in them, how to choose and what to do while undertaking training? Now as I said earlier it is generally believed that one should take plant training in 2 Year and designing training in 3 Year. But it depends on the student’s interest too. According to me if you go for training in IInd Year then do not go for top companies since they do not consider 2 Year students seriously because you do not know many core subjects, so try and go for smaller production companies where you have some kind of a source and the company is willing to give you some kind of knowledge. Another important factor while deciding is your job preference. You must know that usually in most production companies’ jobs are tough because you have to work in long shifts and working environment is tough but you also get more salary as compared to designing companies. So, if do not want a hectic schedule and more bucks then production companies are not your cup of tea. Hence, it will be better for you to also take training in designing company. Now remember try and take training in those production companies that give you a project to work upon. For this purpose students generally prefer private production companies. Some good production companies are RIL, Petronet LNG, IOCL, ONGC. Getting Training in these companies is an easy task. Now some excellent production companies are Halliburton, Cheveron, Shell, Exxon Mobil, Schlumberger, etc. Getting training in them is very tough if you are not from IIT, you need to have a very good source to get training in them. But if you can get training in these companies then you also get Pre Placement Offer. Some other big Pharma companies also give PPO like GSK, Pfizer, Eli-Lilly, etc. Some good designing companies where a Chemical Engineer can apply for training are Haldor Topsoe, Simon India, Petrofac, CB&I, GS Contruction & Engineering, Jacobs, Samsung Engineering, etc. Once you get training in any company remember that you do not have to take it for the sake of certificate only instead you have to learn as much as you can, because questions are asked during the placement interviews regarding the training. Try and first take overview of the whole process and identify one particular section of that process and learn everything associated to that.
Chemical Engineering Internship advice series-1
Why and when to undertake summer internship? This is the one question that remains in the mind of each and every 2nd and 3rd Year chemical engineer. So, through this article I will like to address this question since I have passed through this stage. Now, let us begin by understanding the concept of summer training. Summer training is basically a method to give students feel of the industry, means students get the feel of an industry environment. One can see the processes being carried out at industrial scale and understand the basics behind them. Practical knowledge of the whole process that one has studied only theoretically till now, can be gained. Another important reason for undertaking summer training is that you can get Pre Placement Offer from the company if the company sees in you its potential employee. Now the question remains when to undertake summer training. Generally in many colleges it is not compulsory from college side to undertake summer training in 2nd year. But my advice to students will be to go for summer training in II year too. Since this will give you the flexibility to take training in different domains like production and designing, one in II year and other in III Year . Also this adds to your professional experience which in turn increases your placement chances. In the next Summer Internship article I will tell about the different domains in which one can do internship.
Curved screen benefits
For some of you who could not get the meaning of the topic here we are discussing or rather scrutinizing the curved screens of electronic gadgets like televisions, home theatres and Smart phones. Oh yes! I know some of you might not be familiar with curved screens but it is truth that recently big brands like Sony, Samsung, and LG have launched gadgets that literally have curved screen. Some of devices are Samsung Galaxy Round, and Samsung ultra high definitions televisions. The image shown will give you a better idea as to what these curved screen gadgets look like. Now the big question that will bother you is why you should buy these and what are their advantages and flaws? Now, the curved technology was introduced way back in 1952 with first screen known as Cinerama. It is important to understand that the correct position to watch anything on a screen is that your eye should be at the same height as that of screen’s central axis. Also one views the image on screen when light is thrown on it. Now in case of curved screens light will have to travel less distance to reach the corners of screen since they are curved so this produces a flat image free of disfigurement and it is also not bent as in case of flat screens. So, the image quality definitely improves. Let us look from perspective of our own screens, our eyes; they too are rounded and not flat to give us a fringe vision. Hence curved screens give us a wider view and they provide a captivating and entrancing experience thus giving us IMAX type of view. Definitely you will get a 3D feel since the images have more depth. Another thing that is improved by these curved screens is the aesthetics. One can also say that the sharpness of images will increase due to the similarity in shape of eyes with curved screens. If these benefits are enough to motivate you to buy one of these curved screen gadgets then you must be made aware of their cons. It is clear that this curved screen technology is just not a contrivance. But their ongoing criticism is mainly due to the fact that their prices are extortionate. They are nearly priced 30 percent more than the flat ones. So, that’s definitely a big concern. Another major problem occurs when we view the curved screen television from sides because geometry of image will be disturbed. When we watch from an angle the nearer side of picture will look constricted than the farther side of it. This is a big drawback since we all know while watching television at home there will be only few who will be watching it from centre, the others will watch from sides. So, after spending so much if all of us can not watch a movie together then what’s the benefit? Another problem is the positioning of the TV since curved screen televisions will affect the images by reflecting light on a large portion of screen as compared to flat ones. Hence they need to be placed in a dark location where there is no light source. Some of you will also feel unpleasant when you will see it on the wall due to its shape. Hence, one can say that curved screen have their pros as well as cons. But many top brands are claiming that sales of curved screen gadgets are 3 times more than flat ones. From all the above stated points conclusion is that wider sized curved screens are better than flat screens. These are good for those who are adventurous and want to experiment with new technology. Some people are also advising to buy larger flat screen ones than these curved screen gadgets. At last it is your prerogative but they are worth giving a try.
Best mobile games
All the game lovers get ready because here are the games that will make you go crazy because of their high Tec graphics and latest technology that has been used to design them. Some of them are even free! So, let us start. YEAR WALK This game is based on Årsgång, which is a Swedish tradition. This game is very challenging and is based on the story of love between Daniel Svensson and Stina. This seems interesting! Isn’t it? Now you have to solve many puzzles to get hints and images to complete this game. No, it is not that easy puzzles are uncanny and you can easily lose your way while walking. HUNDREDS It is just a puzzle game. You have the floating bubbles with numbers on them. You have to tap on them to grow them till they reach 100. But remember the catch here; the bubbles are red when you touch them, if they collide then your game is over! So, it is a game of concentration, you have to grow one bubble without hampering growth of another. MINECRAFT-Mobile Edition This is a game for those who like to build on their own and show their creative skills. It is a game in which you make your own structures using blocks and protect them from frightening creatures. You have to use your imaginative powers to make some interesting things. WARHAMMER QUEST This is simply a game of role playing and strategy making. You have to consistently make your way through nocturnal creature to glory. There is no innovation in the game mechanics but actions are rhythmic. You have to get new weapons and armour by killing your enemies. ASPHALT 8 AIRBORNE After talking so much about the strategy and action games it is time for a racing game. Asphalt is the best racing game available. For those who love fast cars, different locations and excellent graphics this is the best game. You earn points after winning each level through which you unlock new cars and levels. It has career mode as well as multiplayer modes both of which are fun to play. All this is absolutely free!
Strategic HRM
Introduction and Basic Concept Strategic Human Resource Management involves three components ? a) Recognizing the need and importance of human capital (b) Knowing that the people implement the plan (c) Knowing that where the company wants to go and developing the strategies for reaching the goals. By adopting Strategic Human Resource Management an organization can have committed, skilled and motivated employees so that it has competitive advantages over others. Strategic HRM is a concept that aims to fulfil the needs of the employees as well the organization by the application of coherent HR policies. Hence, Strategic HRM helps in the integration of all HR programs within a larger framework thus facilitating the organization’s mission and its objectives. Results and Strategies of Strategic HRM It leads to: Increased Performance 2.Customer and employee satisfaction 3. Enhanced Shareholder Value Strategies are: Effective management of staffing by selecting the employees that fit both the culture and strategy Investment in human capital identified with potential for high retention. Integrated HR policies that follow from corporate strategy. Main focus on customer needs and emerging markets. It also involves Human Resource Planning in which first Human Resource Requirement is calculated. If there is shortage of employees then recruitment should be done. If Surplus Human Resource is available then hiring should be restricted. Conclusion So, from all this it looks that Strategic HRM is a rational strategy based on the business policy but in reality it doesn’t translates into cooperatively supportive set of human resource practices or initiatives. Hence, Strategic HRM is an approach of mind that demonstrates a method of doing things. It is accomplished in the form of HR strategies.
Analysis of Company's Annual report
1. Company: Tata Steel Limited Stock exchanges on which it is listed: (a) London Stock Exchange : TTST (b) Bombay Stock Exchange: TATASTEEL (c) National Stock Exchange: TATASTEEL Key Elements required 2017 2016 2015 Total Equity raised 51,934.01 48,912.38 52,464.31 Net debt raised 21,966.77 25,447.37 27,895.47 Debt to equity ratio 0.44 0.50 0.53 Dividends paid 776.97 776.97 776.97 · All the data mentioned is in INR crore Analysis (I) As seen from above company is raising more capital from Equity rather than debt over the years. This shows that shareholders hold a large amount of share in the company. The company is using the capital to increase its assets. (II) The dividend paid by the company has remained same over the last three years. Source: Tata Steel annual Report. http://www.tatasteel.com/media/3669/integrated-report-and-annual-accounts-2016-17.pdf 2. Mahindra & Mahindra Limited Bombay Stock Exchange: M&M National Stock Exchange: M&M London Stock Exchange: MHID Source: Money Control.com Key Elements 2017 2016 2015 2014 2013 Total Equity 25,669.56 21,696.40 19,244.30 16,780.40 14,648.08 Net debt raised 2,737.43 1,843.55 2,620.38 3,745.16 3,227.07 Debt to equity 0.11 0.1 0.14 0.22 0.22 Dividends paid 720.92 745.31 745.31 862.25 798.17 · All the data mentioned is in INR crore Analysis: 1. It can be clearly seen that company is relying on more and more equity as debt to equity ratio is decreasing consistently. 2. The company’s dividend policy has been in general consistent. 3. Housing Development finance corporation Bombay Stock Exchange: HDFC National Stock Exchange: HDFC London Stock Exchange: HDFCBX Key Elements 2017 2016 2015 2014 2013 Total Equity 89,462.35 72,677.77 62,009.42 43,478.63 36,214.14 Net debt raised 717,668.53 599,442.66 496,009.20 406,776.47 329,253.58 Debt to equity 8.022 8.25 7.99 9.355 9.09 Dividends paid 0.00 2,401.78 2,005.20 1,643.35 1,309.08 · All the data mentioned is in INR crore, Source: Money Control.com Analysis: 1. As we can see it raises more funds through Debt than Equity. 2. It didn’t pay dividends to its shareholders in the current financial year. IV INFOSYS Bombay Stock Exchange: INFY, National Stock Exchange: INFY Key Elements 2017 2016 2015 2014 2013 Total Equity 68,017.00 57,157.00 48,068.00 42,092.00 36,059.00 Net debt raised 0 0 0 0 0 Dividends paid 5,915.00 5,570.00 5,111.00 3,618.00 2,412.00 All the data mentioned is in INR crore , Source: Money Control.com · Analysis: 1. It can be seen that Infosys doesn’t raise capital through debt 2. It pays large amounts of dividends to its shareholders. V Ashok Leyland Bombay Stock Exchange: ASHOKLEY, National Stock Exchange: ASHOKLEY Key Elements 2017 2016 2015 2014 2013 Total Equity 6,126.07 4,492.33 4,096.89 3,273.96 3,158.46 Net debt raised 1,344.96 1,984.38 2,591.34 3,883.91 3,504.82 Debt to equity 0.22 0.45 0.63 1 1 Dividends paid 325.40 270.36 128.06 0.00 159.64 All the data mentioned is in INR crore , Source: Money Control.com Analysis: 1. It raises funds equally through Debt and Equity. 2. It is paying generally a consistent amount of dividend except in the year 2014. Combined Analysis: 1. DEBT& EQUITY: Except HDFC all other companies raises funds through Equity. Another exception is INFOSYS which doesn’t raise any DEBT. 2. DIVIDENDS: Generally all the companies are paying consistent dividend except Ashok Leyland & HDFC which didn’t pay for one year each.
PMNRF for cancer patients
Prime Minister National Relief Fund PMNRF has been created to help people in the treatment of cancer, heart surgeries, kidney transplantation, etc. There have been many cases where the funds have been disbursed for cancer treatment. One such case is a person in Jharkhand who was diagnosed with Hodgkin’s lymphoma, cancer that starts in white blood cells. He got 3 lakh from PMNRF and 1.5 lakh through state relief fund. Procedure to apply for PMNRF: 1. Applicants first need to fill the form. The form can be downloaded from the link. 2. They need to enclose two photographs one pasted and one attached to the form. 3. Along with the form, a copy of residence proof should be attached. 4. The original medical certificate which has the information about the type of disease and the total expected expenses of the treatment should also be attached. 5. Income certificate should be attached too 6. Send the application along with above-mentioned documents to PM at the address: Prime Minister's Office, South Block, Raisina Hill New Delhi-110011 The disbursements are made at the discretion of PM only. Usually, a part of the treatment expenses is funded.