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Submitted By-


Prof.Rejimon Thomas

Student choice Report submitted to Ramaiah Institute of Management Studies in partial

fulfilment of the requirements of IV Semester PGPM degree examinations - 2018

Ramaiah Institute of Management Studies

#15, New BEL Road, MSRIT Post, M S Ramaiah Nagar

Bangalore – 560054


This is to certify that this Project Report on Attending Seminar is a bonafide study of Mr. Pravesh Kumar

Shukla as per my knowledge and belief, carried out under my guidance and supervision.


DATE: Prof.Rejimon Thomas


I hereby declare that this attending seminars report submitted in partial fulfilment of the requirement for IV
Semester MBA (UOM+PGPM) Degree Examinations Year 2018-2019 PGPM through Ramaiah Institute of
Management Studies. This work has been done under the supervision of Prof. Rejimon Thomas in Ramaiah
Institute of Management Studies, Bangalore.

Place: Bangalore Pravesh Kumar Shukla

Date: PB17027


I wish to express our sincere gratitude to Director Dr. Mr.Pattabhiram, Dean Dr. Radha.R of Ramaiah Institute
of Management Studies for providing the academic environment for undertaking this project.

I deem it a great privilege to prepare the training report under the supervision of our guide Prof. Rejimon Thomas
of Ramaiah Institute of Management Studies for his timely help and constant encouragement for bringing out the
present report in time and for his support and valuable guidance throughout the preparation of this report.

I wish to record our hearty thanks to our beloved friends, family members and classmates for their valuable co-
operation, support, prayers and timely help without which this report could not be completed in time.

Knowledge is the most powerful & the most valuable ornament for the Humans.Everything else in our lives,
money, health, things, love, they can all come and go. They can all be taken away from us. The one thing that no
one can ever take from us is our knowledge.

Knowledge is like Petrol and this body is our car, the more knowledge, you possess, the better distance one can
cover. It gives us command over the things which we are doing.

But the most important thing is to take the right knowledge of something which gives us greater opportunity in
our life and make us successful. We can take the example of Sachin Tendulkar who with his right knowledge
about his batting succeed in the world of cricket and he is called as the master blaster and god of cricket.

So for gaining the right knowledge which can be helpful for us to make our future bright we attended the seminars.
It was a lecture or presentation delivered to an audience on a particular topic or set of topics that were educational in

Purpose of attending Seminars

We attended the seminars for the purpose of education, to get some skills or knowledge related to budget, future
skills which empowering the new workforce, entrepreneurship, employee stock based options, etc.

We attended seminar also for motivation purpose by which we can be inspired to become better people, or to
work towards implementing the skills we have learned from the seminar. For instance, in the seminar which we
attended in Soundarya Institute of management and science on HR Conclave, we learned the skills that is required
for the future, principle of success, learning curve – the path of excellence, coach as a leader. We attended
seminars so that we can get an opportunity to meet with businessmen and women or other like-minded people,
get opportunities to make some potentially valuable contacts that can help us move to the next level in our careers
or endeavors.

Differentiation of Seminars with Workshop, Conference and Convention

Seminar vs. Workshop

The main difference between seminars and workshops is that seminars are usually more academic and less hands-
on than workshops. Seminars are events that are mostly geared towards educational topics and usually feature
one or more experts on the subject matter. On the other hand, workshops are generally less formal and require

more attendee participation than seminars. The main thrust of workshops is for the participants to gain new skills
during the event under the guidance of the instructor.

Seminar vs. Conference

Both seminar and conference refer to a meeting of several people. Words like convention, symposium, workshop,
etc. also refer to such meetings. What makes a seminar different from these other types of meetings is its academic
nature. A seminar is typically a form of academic instruction at an educational institution or a commercial or
professional organization. A conference is a formal meeting for discussion, problem solving, or consultation.
Therefore, the main difference between seminar and conference is that seminar is academic in nature whereas a
conference can be of various formats such as business, trade, academic, press conference, etc.

Seminar vs. Convention

As opposed to a conference where only a select few people may be invited to talk, conventions are usually
organized by a group, union or party, and encourage all attendees to participate and speak their mind. This type
of meeting could be defined as a gathering of people, which is ‘convened’ to enable people to voice their

These are usually held by a large group of people who have a common interest, or an assembly of leaders such
as a political convention organized by any particular party, a national convention organized by a country or nation.

Conventions are generally political meetings. They do not have reading sessions, and tend to encourage the
participants to interact and discuss. These types of meetings would usually be organized by a society,
organization, or club, rather than an individual.

Seminars are generally quite limited in size, so much smaller than conventions for comparison’s sake. There is
generally a great deal of discussion and interaction amongst participants, therefore the format would be quite
similar to a convention. Although, due to its reduced size, the discussion may go wherever the group takes it,
whereas this may not be as straightforward in a convention, where hundreds of people may be present.


UNION BUDGET 2019-2020

2 Feb 2019

Speaker: CA D Rachan Kumar, Audit and Tax Consultant

Budget is an instrument that helps translate public policies into concrete actions and
desired outcomes. It is a blue print for converting intentions into reality. Like any tool
it needs continuous honing. The budgetary practices in India have, however, largely
remained unchanged over the years. A few ‘innovations’ such as the performance
budgeting introduced in seventies as recommended by the first Administrative Reforms
Commission and the subsequent ‘zero based’ budgeting have been outside the
mainstream budgeting. The outcome budgeting introduced in 2005 has similarly
remained on the margins. They have not had the desired impact on public expenditure

Budgeting is intimately linked with the way transactions are classified. The chart of
accounts used to classify budget and expenditure has similarly not kept pace with the
changing needs of the times. For an efficient public expenditure management, the
accounts need to be computerized in such a way that they provide useful information in
real time to managers of public funds. While accounts at both the union and state have
been computerized, the software systems are fragmented and, are therefore, sub
optimal. Only lately has there been some attempt at integrating the different systems
into an Integrated Financial Management Information System (IFMIS).

The Seminar jointly organized by fintech club member and Ramaiah Institute of
management studies on ‘Enhancing Performance through Improved Budgeting’
attempted to look at the above issues. The seminar was attended by management student
of RIMS and faculty of the college.

The Agenda for seminar included a mix of benefit of tax to poor people and middle
people of the India. A notable feature of the Seminar was the support extended by Prof.
Prasad Lingana. While the Seminar began with a key note address by guest lecturer CA
D Rachan Kumar, Audit and Tax Consultant.

Mr. Rachan Kumar set the tone for the discourse in the seminar by
raising the following points pertaining to budgetary reforms in India in
his keynote address:

Another practice relates to the lack of clarity regarding depiction

of unspent balances by Societies that implement major
development programmes funded usually jointly by the union and
state governments e.g. Sarva Shiksha Abhiyan – the major flagship
programme for universal basic education; and National Health
Mission – the major health sector programme aimed to reforming
the health service delivery through public institutions. While these
Societies report expenditure having taken place, huge sums of
money are often found to be resting at some level of the
implementation machinery. There is a need to debate if now is the
time to change such practices in a manner that budgetary exercise
becomes a more evidence-based practice that provides the real
economic picture of the nation at that point of time.

Linking / integrating the planning, budgeting and performance

review exercises through a process of outcome budgeting where
outcomes include final as well as intermediate outcomes would be
important in Indian context. For instance, in the context of
education, while final outcomes in terms of school attendance and
learning outcomes are critical, input indicators such as availability
of adequate, well-qualified teachers or appropriate physical
facilities is also as important, and should be included as outcome
intermediate indicators.

The budgetary mechanism should be able to deal with the issues

of addressing needs and rewarding performance; this becomes

crucial in a large federal economy where three levels of
governments function and control resources. It is also important
from the perspective of major inter regional socio-economic
differences within the country and at sub-national levels.

Most budget reform discourses in India take only the union and
state governments into account, leaving the third level of
government: urban municipalities and rural panchayats, outside
the purview. While this is understandable in one sense as this level
is highly dependent on the grants received from other two levels
of government, this needs to change for a number of reasons. One,
this level was visualised as growing in importance with passage of
time and maturity of the institution, and two, transfer of substantial
sized untied grants to these bodies as suggested by the 15th Finance
Commission means greater responsibility for planning, budgeting
and performance at that level as well. Therefore, it has become
increasingly imperative to include these bodies also in the purview
of the discourse on budgetary reforms.

Some of the points raised by Mr D Rachan Kumar in his address reinforced that budgetary reforms
have generally sought to enhance accountability, efficiency and transparency of public
expenditure. This Report captures briefly the deliberations in the Seminar broadly under the
following themes.


Tax rebate Upto Rs.5 lakh(earlier 3.25 lakh)

Standard deduction Rs.50000(earlier 40000)
Gratuity Limit Increased by 30 lakh(earlier 10 lakh)
TDS on interest income from deposit in 40000(earlier Rs10000)
Banks and post office.
Mega Pension Yojna Rs 3000/year(after 60 year retirement)
Pradhan Mantri Kisan Samman Nidhi Rs. 6000 year( 2hectare)
Defense Rs. 3 lakh crore
Ujwala Schemes Delivered 6 cr. Free LPG
80 IB (till 2020) Tax deduction upto Rs.2 Lakh

How Interim Budget can benefit for Middle-class people

Budget 2019, reform many taxes, interim finance minister Mr. Piyush Goyal mostly focus the
Indian middle class, farmers and service class people. The Narendra Modi government has gone
all out to woo voters across social segments — not just the ones in rural India. The Indian middle
class had been watching this budget with a lot of hope for relief and stand-in finance minister,
Piyush Goyal, did not disappoint.

He stated, "Reducing the middle-class tax burden has been a priority of the government."

Here are the big takeaways for the Indian middle class:

Union Budget 2019: With the Budget 2019 around the corner, taxpayers are hoping for
announcements that will reduce their tax burden. The last few budgets have not been too friendly
with taxpayers, especially with the last year’s announcement of 10% long-term capital gain tax. In
the Interim Budget 2019, there are speculations that the government will use the opportunity to
appease the salaried taxpayers ahead of the general election. The expectations are really high this
time. These are the 5 major ways in which the Interim Budget can bring joy for the Indian

1. Increase in basic exemption limit from Rs 2.5 lakh to Rs 5 lakh: Individuals having a total
income up to Rs 5 lakh are required to pay tax @ 5%. With the increase in total income earned by
the individuals, the rate of taxation jumps up directly to 20% (for income up to Rs 10 lakh) and
30% (for income beyond Rs 10 lakh). There arises a disparity in taxation for individuals falling in
the middle-level income category. It is hoped that the income slab will be increased; else the tax
rates are reduced. The basic exemption should be increased from Rs 2.5 lakh to Rs 5 lakh and the
highest income tax slab should be revised from Rs 10 lakh to Rs 20 lakh. Else, the government
should consider streamlining the tax rate to 10% for income up to Rs 10 lakh and 20% for income
beyond Rs 10 lakh.

2. Increase tax exemption under Section 80C: Many individual taxpayers face a challenge in
claiming a deduction on their investments as the limit of Rs 1.5 lakh provided under Section 80C
gets quickly exhausted. There is a need to revise the threshold specified under Section 80C.
Further, conservative investors tend to buy five-year FDs for tax saving where interest rate has
come down drastically. Hence, for a better return for investors, investment in the low-risk hybrid
funds should be eligible for 80C deduction.
3. Less taxing bank FDs: If the government eases up the taxation on risk-free liquid investments,
there are chances that will add a new feather in the hat for the government. The amendments of
Section 80D exempting non-senior citizens as well from the tax levied on bank FDs or further
extending the limit of interest income to Rs 1 lakh will encourage the taxpayers to maintain a
balanced risk profile.

4. Increase in exemption limit for interest on home loans: Under the existing tax provisions,
interest of up to Rs 2 lakh on a housing loan for a self-occupied house is deductible from an
individual’s gross income. Also, the limit of loss from house property that can be adjusted against
other income is just Rs 2 lakh. Considering the high real estate prices, these limits can be enhanced
to Rs 2.5 lakh.

5. Standard Deduction: This is the high time when the government must strike a balance by
changing the tax slabs to favor public and maintain a fiscal sense as well. Salaried employees

didn’t find any relief in the last year’s budget, but this year hopes are high for an increase in the
standard deduction. This will help the salaried class to cope up with the inflation.

Considering the steep rise in the cost of living due to inflation, it is suggested that the basic
exemption limit and income slabs should be enhanced to give benefit to the low-income group.


Soundarya Institute of management and science

HR CONCLAVE 2019 On “Changing minds before changing tools”
15th Feb 2019

Speakers of the event:

Speakers Topics

Mr.Hirendra Bhadiye (Vice Skills of the future

President, Northern Trust
Dr. Soumya Subhadeep Principle of Success

Naresh Deep Learning curve – The path of


Mr. Viswanathan Coach as a leader

HR CONCLAVE 2019 On “Changing minds before changing tools”

In Soundarya Institute of Management and Science, HR Conclave were organized on 15th Feb in
which we got the opportunity to attend that event. In that event HR’s of different organizations
gather together and they interact with students on “Train your Brain to Retain” Future Skills -
“Empowering the New Workforce”. The event started with a brief introduction to each and every
HR’s then we had a lightning ceremony and then HR’s gave a presentation for more than half an
hour. HR conclave was basically organized for the student’s benefit where HR’s guided us that
what qualities a student should have in this competitive environment so that a company should
hire him/her. This event also benefited organizations as their HR’s had good conversation to other
HR’s of different company and made good bonds and good relation with them and showcase their
organization’s strength. This event happened in two sessions before the lunch and after the lunch.
In the first session the first two speakers Mr. Hirendra Bhadiye and Dr. Soumya Subhadeep gave
the lecture and in the other session Mr. Naresh Deep and Mr. Viswanathan gave the lecture.

Role of Mind in our life

The mind plays an important role in achieving every success and goal, minor, everyday goals, or
major goals.

With minor, day-to-day goals, you know what you want to achieve, but when it comes to major
goals, it is different. You might have a vague idea, but this is not enough.

To accomplish anything, and to use your mind power, you have to know exactly what it is you
want to do. In order to focus your mind on a goal, you need a clear and well defined goal. How do
you go about that?

1. First, you have to think and find out what is it that you really want to accomplish or gain.
This might not be a simple step, and requires deep thinking, investigation and time.
2. After discovering what you really want to accomplish, you need to come up with a plan for
action. You need to know what you have to do first, and how to proceed. All of this requires
planning, which means using the power of the mind.

3. After deciding on a goal and coming up with a plan, you need to hold in your mind a clear
mental image of your goal. You need to see it accomplished. This step requires that you
use your imagination, which is another power of the mind.
Not everyone can visualize clear mental images, but regular training of the imagination can
do wonders. You may, for example, look at photos of what you want to achieve, and then
close your eyes, and try to see it in your imagination. This will enhance your visualization
At this point, you have to display patience, self-discipline and persistence.
4. Affirmations are another useful mental tool for achieving success. What you affirm sinks
into the subconscious mind, becomes part of the subconscious mind, and consequently,
affects your behavior and actions. If your affirmations are positive, they lead you to
5. You need to be able to transmit your thoughts to other people, who would aid you with
your plans. Often, you have to persuade others to invest in your plans or to help you in
other ways.
To be able to do so, you need some degree of concentration, the ability to visualize, tact
and patience, all being mental skills.
6. Motivation is another mental and emotional power that you require for achieving success.
How can you achieve anything if you are not motivated enough? To increase your
motivation and enthusiasm, think often of your goal, about its advantages and benefits, and
how it will change your life. Doing so, will strengthen your motivation.

Your thoughts, which are part of your mind, possess power. The thoughts that you most often
think tend to come true.

If you pour your mental energy into the same thoughts or mental images day after day, they
will become stronger and stronger, and would consequently, affect your attitude, expectations,
behaviour and actions.

These thoughts and mental images can even be subconsciously perceived by other people, who
would then offer you help or opportunities.

Your thoughts can also create what is usually termed as coincidence. They can attract into your
life corresponding events, situations and opportunities.

Not every thought turns into reality. A thought has to be repeated often, and to be saturated
with desire, in order to come true.

First session
Speaker 1
Mr.Hirendra Bhadiye - Skills of the future
The seminar started with the most important guest of HR Conclave Mr. Hirendra Bhadiye in
which he first started with the story of village father and his MBA son to make us understand the
importance of future skills then he started explaining the skills that is required in future. He came
with some of the points that are discussed below:

Skills of the Future

 Critical thinking and Complex problem solving : In his point of critical thinking and
complex problem solving he told that Students should have critical thinking and complex
problem solving skills to analyze in gaining an understanding of issues in today’s world
and to comprehend the significant aspects of complex situations set in the future. Problem
solving skills are applied as they focus on possible solutions and develop Action Plans for
those situations.
 Creativity: In his point of creativity he told that Problem solving situations are set in the
future to encourage inventive thinking. Students learn to look at situations from a variety
of perspectives. Creativity is essential as they generate challenges and develop multiple
ideas for solutions to pressing problems.

 People management skills: In today’s dynamic work environment, it is not enough for a
leader to be able to just lead a team, he or she must be able to motivate people to go above
and beyond, solve difficult problems and be part of a high-performing work culture.

Effective people management can not only influence productivity but also has a direct

correlation with morale of employees and their motivation to work harder and smarter.
Then he gave some suggestions on how to improve the people management skills and that
is discussed below:

a) Concentrate On Your EQ
b) Involve Everyone
c) Focus on Communication Skills
d) Practice Empathy

 Emotional Intelligence: Emotional Intelligence is an ability of an individual to

understand emotions of self and emotions of others. A person with emotional
intelligence can effectively express own emotions and control them. He can
understand others people emotions and can interact with them more effectively. For
example, a subordinate having low self-esteem requires a timely appreciation for
the work he carried out successfully by his team leader.
Here are some few reasons that an organization requires to have emotionally
intelligent employee:

 An emotionally intelligent employee can work effectively in a team.

 Can be more transparent and be open for communication.
 Adaptability to change in work environment.
 Emotionally intelligent employees know their strengths and weaknesses.
 Empathy for other people’s feelings. Such employee can build a good relationship
with co-workers and customers.
 Emotionally Intelligent employees have great self-esteem. Employees having great
self-esteem probably do not compare themselves with others. Comparison in any
way is not at all positive. Comparison generates energies like jealousy, insecurity,
and even guilt sometimes within the person. These energies are very negative and
thus creates negative work environment.
 Can work under stressful situations.

 Decision making skills: Decision making is a core skill that everybody will need to use
at some stage in their career. To prove you are good at decision making, you will need to
make the best possible choice in the shortest time possible, as well as being able to show
reasons that support your decisions. Generally the more senior the role, the more difficult
these decisions become. Many employees are forced to make complex decisions routinely
as part of their job description; sometimes these decisions have to be made under intense
pressure. Therefore employers need to know that the people they recruit can take the
initiative when required and make good decisions in important situations.

 Strong communication skills: This is the most fundamental people skill because it
encompasses your persona and ability to get along with other colleagues, persuade others
to listen to your ideas, and much more, he also gave example of Taylor and in which he
told about what Taylor says about strong communication skills. Taylor says. “If you have
a gift for the spoken and written word, you will always put your best foot forward. Being
articulate is highly prized in today’s workplace, when time is at a premium and technology
requires constant communication.”

 Good Judgement: Good judgment is a key people skill that comes directly from learning,
listening to others and observing the world around you, It allows you to wisely select
friends and associates, determine reactions and responses, and make sound decisions.

 Service orientation: Service based business make up the majority of all businesses in all
developed economies. And it’s an area that continues to grow in size. It’s a handy skill to
know if you have a client facing role. A satisfied customer leads to repeat business.
Providing an excellent service is an easy way to differentiate your company from your
competition. People will be reluctant to switch if they keep experiencing excellent service.

 Negotiation: Good negotiating skills are beneficial with both internal and external
discussions, Hoover says. “Internally, job offers and salary discussions greatly benefit from
solid negotiating, as well as when it's time to pitch a new idea or sway coworkers to your
way of thinking. Externally, both vendors and customers often require negotiations and
you can really become the hero when you are successful in either scenario.”

 Cognitive flexibility: Cognitive flexibility is the mental ability to switch between thinking
about two different concepts, and to think about multiple concepts simultaneously. It is
very important future skills.

Speaker -2
Dr. Soumya Subhadeep – Principle of Success
Second speaker who came on HR Conclave was Dr. Soumya Subhadeep who told us about the
principle of career success in which she make us understand the importance to follow the
principle in career success. She gave with some of the points to us that are given below:

 Principle 1 – Find Your Career Focus—Self-Awareness: She told about the first principle
in which she told us that Self-insight is the key to empowered career planning and decisions
about our work and life. We can improve our sense of direction and purpose through careful
self-review. You’ll assess major achievements, skills, values, goals and develop a personal
mission statement. Aligning these with your present work, career direction, performance review
and learning goals creates energy, excitement and success. Use these First Principle results as
a yardstick to measure/explore other career opportunities, make decisions and create career
plans. Find out what it means to be an “inspired performer.”

 Principle 2 – Understand and Research Your Options: From the First Principle of self-
awareness we need to focus on the Second Principle, recognizing that empowered, realistic
career planning and decisions depend on solid research and information. What are your goals
and needs, and how does your work contribute? What about organization, technology and
business trends/changes? Will they affect your present work, training and career plans? What
are opportunities and career options? We’ll introduce the role of Networking, a crucial career
management tool, and use company tools and resources to build organizational awareness. Then
you will begin to develop a career plan in the next Principle, to tie your self-review with your
research and internal opportunities.

 Principle 3 – Create a Career Action Plan: Building a Career Action Plan that links First
Principle (self-awareness) and Second Principle (organizational awareness), performance
review, and Learning Plan results/data to a career needs and values is the key deliverable.

 Principle 4 – Build Relationships: Building positive relationships and partnerships is the
single most important factor today to personal, career and organizational success. With work
and organizations changing so rapidly, and with the global business environment and
technological influences there is an urgent need to be better, faster and smarter in building
relationships. The Fourth Principle is about improving our relationships and communications
by understanding Emotional Intelligence (or EQ) principles, developing our Personal and
Social Competence EQ skills, and valuing individual Diversity. Research indicates that EQ is
much more important than IQ, can be developed and contributes to 60% of job performance,
with 90% of top performers scoring high in EQ.

 Principle 5 – Make It Happen—Work Your Plan: The Fifth Principle, Make It Happen—
Work Your Plan, includes a project outline to track status and actions for each Principle.

Second session

Naresh Deep – Learning Curve – The path of Excellence
Third speaker who came in the second session told us about the learning curve. He started his
lecture by giving the example of PUBG game in which he told to us that when we play PUBG we
don’t need to ask any question to our friends or people what to do next , we automatically learns
the steps and cross many stages in that game. The same should be in the case of life when people
get confused they ask people what to do next but they don’t know they have the potential to find
their solution of their own. He told that when you hear ‘learning curve’, you’re probably thinking
it means – how fast can you learn something. And there’s a built-in assumption – that once you’ve
got it, you won’t forget it. Once you as an individual learn something, you won’t forget. Once your
company and the team you work with learn something, you won’t forget it. He also told us that
say to the past that dear past “Thanks for all the lessons” and say to your future “I am ready” and
keep learning always. This is the only things which gives u success in your life .


Viswanathan –Coach as a leader

The Coach as a leader

A great leader knows that teams feed off positive energy and momentum. A ‘leader-coach’
provides a sense of optimism and confidence. If the leader is a business executive, he or she needs
to be passionate about the business and demonstrate that thirst to know more about the business.
This enthusiasm sparks a broader depth of interest and passion for the organization’s mission.

Last speaker was Mr. Viswanathan who gave the lecture on coach as a leader. He told us that when
MBA graduates finish their degrees, we want them to have a variety of capabilities. One of the
main ones is “leadership skills”.

New developments in the world of work require new leadership approaches. Leading no longer
happens solely face-to-face: technology allows individuals and teams to work remotely and on-
demand. Workers join and leave projects more frequently, so employees must act more as
entrepreneurs. The manager’s skillset must allow people to experiment, to find their own answers
and to learn from their mistakes. A traditional “command and control” approach in which people
are told what to do and are micromanaged won’t work. Managers might miss out on great ideas
because they are telling their staff what to do. By contrast, a coaching approach enables the
employee to come up with their own ideas and enables their intrinsic motivations. Research shows
that when leaders use coaching it improves employee’s motivation levels and performance, and
boosts satisfaction with both their job and manager. Coaching skills may be more in demand, but
they are in short supply. In a 2017 Financial Times survey that asked what skills employers are
looking for in MBA graduates, coaching was listed as being one of the most difficult to recruit.
This issue is a regular occurrence in consulting work. Understanding what coaching is can be a
challenge. He has seen executives tell managers to “Just Coach”, without providing the necessary
training. Some leaders think of someone yelling instructions from the side-lines but that is simply
solving an issue for their team member. The good news is that leaders can learn coaching skills.
The bad news is that in most cases they have to be taught them. In a recent study he co-authored,

he found that out of 580 human resource and general managers at Australian companies, 40% said
they wanted initial or more training in coaching skills. Organisations should not expect to employ
natural coaches and managers are demanding training in coaching.


ESOPs for Startups

10 March 2019
Speaker: M.J.Cherian, Co-Founder and CEO of ‘Keynote ESOP’

First of all, I would like to thank NSRCEL Team for giving me the opportunity to attend the
ESOPs for Start-ups at IIM Bangalore. The workshop was very interesting and gave the
opportunity to learn many issues in regards to research procedures. As a trainer who needs to do
some research in the future, I found it was a very enriching experience for me. I will describe
briefly below some elements in the workshop.
1. The seminar and workshop were designed to
 Provide insight and understanding regarding the key concepts
 Review and discuss the phenomenon of varieties of stock based compensation plan and of
each is selected for the appropriate purposes of particular research undertakings
 Discuss key point of employee stock option plan life cyle and how its work in real life.
2. The slot of time was in two sessions.
3. The seminar and workshop was well attended by entrepreneur, employee of the
companies, and university students in the master’s; around 300 participants were present.
4. The seminar and workshop started at 10 a.m. by singing our national anthem in IIMB
auditorium and an opening speech by Shivanshi Rai, member of NSRCEL Team.
5. The first session was presentation by M.J.Cherian, Co-Founder and CEO of ‘Keynote
ESOP’ deliver a riveting talk on 'Employee based Stock options’ for knowledge sharing
towards building the Start-Up community.

In this seminar, we find out:
 How to look at and structure ESOPs as a start-up?
 How to evaluate the value created with ESOPs for both founders and employees?
First, let’s begin with the basics. ESOPs are one of the components that organisations use to attract,
engage, and retain talent. They form a major part of the founder’s compensation philosophy; some
firms believe in providing stock options as part of their rewards system. Historically, providing

stock options is not just practiced by start-ups, but also by bigger, well-established companies. For
example, large banks have been known to distribute their equity and publicly traded companies
have long used ESOPs as a retention tool. With a little flexibility, this approach can easily be
applied within a start-up ecosystem as well.

This is the thumb rule: if you have an engaged employee who wants to be wealthy, you need a
strong and rigorous compensation plan.

Building an Effective ESOP

When building a compensation plan, it’s important to look at five fundamental axes.

1. The Equity Pool

At its core, ESOPs are the financial manifestation of a founder’s beliefs. If they truly believe in
creating wealth for their employees, even a mental model of equity development can aid their
hiring and compensation practices. As soon as an entrepreneur establishes their company, their
equity pool must be ready to hit the ground running. If you’re interested in providing stock to your
employees, start allocating employee equity pools, founders pools, and co-founding team pools at
the very beginning.

What is your equity pool? What will you earmark for employees? Those are important questions
to ask before you offer stock options.
Through our insights here at Accel, we’ve determined that if a founder is really looking to generate
wealth and retain talent, they should set a double digit equity pool rather than a single digit one.
Wealth creation happens with a larger pool so do not restrict your employee’s ability to generate
wealth. However, it ultimately boils down to the entrepreneur’s corporate philosophies.

If a founder is really looking to generate wealth and retain talent, they should set a double digit
equity pool rather than a single digit one.

2. The Stage of Your Start-up

The ESOP pattern needs to evolve during the course of your start up journey. In the formation
stage, founders are looking to attract 5 to 10 employees who will build the foundation of their team
and generate value for their company. It’s also critical to note that early-stage employees are taking
a large amount of risk to join you, and hence, need compensation through ESOPs in a much more
rewarding manner in comparison to the reward in the growth phase.

In general, after you’ve decided how many and what kind of employees you would like to hire,
consider a plan to execution system. Find and evaluate data accurately to understand what a good
stock price option is at this stage to attract potential talent. (Unfortunately, if there’s a 100%
diversion from the data, you may not generate enough value for the employee).

3. Value Creation

ESOPs are a mutually beneficial compensation tool: engaged and motivated talent that believes in
your company’s vision is likely to generate more value for you at any stage. Simultaneously, this
also generates wealth for the employee, rewarding them for their risk and hard work. Once you
reach the validation stage after you’ve found your early stage employees who truly believe in your
brand and can drive it forward, it is best to narrow your focus. Segment the organisation’s value
contributors into three main groups: leadership positions, management and tactical positions, and
individual performers. Continue to mold your ESOP from there, sculpting the program as you

At the foundation stage, reward your employees for their risk and hard work. Then offer ESOPs
to those in leadership and management or tactical positions, and individual performers.

4. Employee’s Salary

The stage of the start-up and the company’s ability to pay higher salaries converge at this point.
At the validation stage, acknowledge that the firm’s ability to offer compensation is likely to
increase, whereas the ability to offer equity will decrease, and tweak your rewards model as

5. The Vesting Period

A vesting period is one of the attributes of an ESOP. This is when an employee is given the number
of options for stock tenure, which could range between 1 year for performance units, and 4 years
for cliff-vesting or linear-vesting methods. The key is to base the offered vesting period on what
component of the compensation plan is extended. For example, some start-ups have introduced
accelerated vesting which is dependent on the employee’s performance. In this case, instead of
waiting 4 years to vest, the stock option vests at the end of the calendar year or 365 days.

From the Employee’s Perspective

Wealth only gets generated when an employee can exercise their stock options. From their point
of view, strike price and buying price play a valuable role in defining what their wealth creation
looks like.

There are multiple different stock options and formats, such as RSU (Restricted Stock Unit), a zero
value option that is distributed at the current price when an employee joins. But let’s look at an
example to demonstrate the influence of price.

When the start-up is first established, the value of an ESOP may stand at 1 dollar. When the
company moves from the foundation to the validation stage, your stock option price increases to
12 dollars. When an employee joins the company, depending on the valuation of the company per
unit, he will be given 12 dollars. This means the company needs to move to anywhere between 15

to 28 dollars for the employee to actually generate profit. This is why joining early matters, as the
difference in value builds up.

In this context, if an employee joins when the price is 12 dollars, and, for instance, the company
gets its next round of fundraising or the employee leaves, coupled with an increase price per unit
at 18 or 19 dollars, the threshold is around 6 dollars. 6 dollars is the profit the employee makes,
while he needs to pay back the 12 dollars. That’s why the strike price plays an important role —
 with a zero value stock unit or RSU, which is offered to the employee at a price of zero, the
employee’s benchmark could be at 18 dollars as compared to 6 dollars in both formats.

Now, when it comes to evaluating the best time for an employee to exercise his vested period, it
depends on the type of stock compensation offered. If they were offered a stock option at zero,
they do not need to pay tax on it and can keep it for as long as they would like to. However, when
the unit is priced at 12 to 18 dollars per unit, then the tax bracket kicks in, which means the
employee will have to buy in the day he leaves the company to make sure the unit is with him until
the next strategic buyout happens through an IPO or secondary sale.

ESOPs — The Bigger Picture

Offering an effective compensation plan could be the difference between hiring mediocre
employees versus hiring highly effective, driven individuals who can add real value to your start
up. Because the crux of every start up success story is a strong binding force between the firm’s
founders and its employees, ESOPs can be the strategic mechanism to build that cohesion, creating
shared wealth in the process. They foster accountability on both sides — employees accelerate past
their potential in order to build the best company possible, while founders ensure equitable
compensation within the organisation. Simply put, everyone wants to be wealthy; ESOPs are just
the device to fulfil that desire.

M.J. Cherian gave a clear-cut exposition on details of Employee Stock Option Plans starting from
stock appreciation rights, the life cycle and the necessities of regulations and taxes.

As a graceful finish to this elucidative presentation, he offered his inspiring words of depth, "You
may not change the world, but you can definitely change the way a few people experience it” A
wonderful ending to a superlative session.


30th march 2019

The seminar that was organised on 30th March, 2019 is about Team Down which is a special
platform that brings entrepreneurs together. Selected start-ups get the unique chance to get
feedback from a panel of experienced industry leaders in terms of design, market, customer, Tech,
and investor point of view.

In this TearDown, Experts gave actionable insights on:


The shortlisted start-ups for the team down was

 Image translate
 Zingyapp
 fibo talk

Following was the list of esteem panel for this edition of TeamDown

Prasanna Krishnamoorthy Partner at Upekkha

Gagandeep Josan Co- founder at Nittiolearn

Varun Jain Founder at SendX

Vinit Agarwal Co-founder at TARS



09:00 AM -09:30 AM Registration and Networking

09:30 AM - 10:00 AM Introduction to TeamDown and NSRCEL

10:00AM – 10:40 AM No vanity SaaS , India hotbed of value
SaaS by Prasanna
10:40 AM– 10:10 AM Teardown product 1

11:00 AM– 11:40 AM Refreshment and Networking

11:40 AM– 12:10 AM TearDown product 2

12:10 AM-12:40 AM TearDown product 3

12:40 AM– 01:00 AM Q&A

Introduction to TeamDown and NSRCEL

The seminar was started with the introduction about the TeamDown and NSRCEL in which
lecturer gave some brief introduction about TearDown and NSRCEL which are written below:


A Product Teardown, “or simply teardown, is the act of disassembling a product, such as a
television set, to identify its component parts, chip & system functionality”.

In a teardown, you get critical feedback on your product, that is, if you don’t mind your product
being torn down.

At NSRCEL’s TearDown, a panel containing subject matter experts from various fields will help
entrepreneurs with critical feedback, with growth as the objective.

If you are looking for critical feedback for your product from Design, Market, Customer, Tech and
Investor angles please apply here.


NSRCEL’s approach to entrepreneurship is highly integrative, attempting to create a close

connection between the theory and practice of entrepreneurship. NSRCEL supports academic
research to promote a better understanding of the entrepreneurial context and entrepreneurial
strategies in the Indian context.

The centre also supports development of cases based on entrepreneurial ventures in India.
NSRCEL is one of the few entrepreneurship centres which has its own faculty members focused
exclusively on teaching and research relating to entrepreneurship.

NSRCEL’s faculty members collaborate extensively with counterparts elsewhere in the world and
are among the most research active faculty in entrepreneurship in the country.
In addition to offering courses on entrepreneurship in the long duration programmes at IIM
Bangalore, the faculty members run two specialized programmes for entrepreneurs – Management
Programme for Entrepreneurs and Family Businesses (MPEFB) and Management Programme for
Women Entrepreneurs (MPWE).

No vanity SaaS, India hotbed of value SaaS by Prasanna

After the introduction given on Team Down and NSRCEL, Prasanna Krishnamoorthy who is a
partner at Upekha was called for giving lecture. He told that don’t be a vanity SaaS, be a value
SaaS business. By accessing & deploying founder-ownership friendly capital, they grow rapidly
and thrive. More startups die due to indigestion than starvation. Large amounts of early funding
lock startups into directions where product-market-fit and go-to-market may not be aligned. This
causes premature scaling of marketing and sales with high churn and low conversion. When the
funding runs out, the startup is unable to survive. When founders fail to reach high scale vanity
metrics due to the large amounts raised, they are often forced out of their companies. As a side-
effect founders dilute too much too fast. Founders who take on large seed rounds face a bottleneck
raising a Series-A as they struggle to show value metrics demanded by larger institutional
investors. Financial outcomes for 80% of founders are near-zero due to dilution, deal provisioning,
forced exit, forced M&A.At 80% of startups, employees make no financial outcome from their
common shares.Investors are also struggling with the current power law model – 90% of VC firms
fail to beat their benchmark returns. In the search for quick growth and scale, founders are moving
from SMB/mid-market to enterprise. From a GTM perspective, they’re moving from content
marketing and organic growth to paid growth and sales-led models, too early in the journey. Value
SaaS businesses focus on surviving in their path to first million. They bootstrap or raise tiny
external investments. During this period they iterate rapidly to create a growth engine for scaling
to $10Mn and beyond. Organization that are able to make $1 of revenue through less than $1 of
spend is a Value SaaS Business. Veeva, Zoho, Mail Chimp, Atlassian, BrowserStack, even
SalesForce, are all Value SaaS startups – they made more than $1 Mn ARR with less than $1Mn
in spend.

Value SaaS companies

Sendx, Tars, Appknox, Almabase, Izooto, Interview mocha, QuickDryCleaning Software, All
Events, CloudQA, Nittiolearn

TearDown product-1

After done with the lecture of Prasanna Krishnamurthy ,three others panel Gaga deep Josan(co-
founder at Nittiolearn), Varun Jain ( Founder at SendX) and Vinit Agarwal (Co-founder at
TARS) came on the stage and all the four sit together and start with the judgement of first startup
company name IMAGE TRANSLATE. Image Translate is a SaaS software company that builds
tools to translate images without design hassles. A boy who started this company gave
presentation on that and told how it works.

The panel member who seated there did some correction on the websites of the company and
gave them some suggestions to improve that.

Some of the suggestions which was given by the panel members on image translate were:

 value of image translator- kind of customer

 integration play

 price discovery with proactive customer conversations

 Valued based pricing

Refreshment and Networking

After done with the TearDown product -1, there was an half an hour refreshment break in which
we had tea and interact with the panel members.

TearDown product 2

After done with the refreshment and networking another start-up company came with the name of
zingyapp. Zingy is a technology platform for the business owners to manage their employees
especially sales employee.

With “Zingy” app, managers can quickly see who’s working, who’s late, who’s scheduled and
who’s available, on field sales employee GPS location tracking, attendance system, sales visit
tracking, sales order and payment collection data logging via mobile app. They can clock
employees in or out, edit timesheets and approve employee requests directly from their phone.

The person who started this company gave a full presentation on what is this and how this works
and after analysing, the panel members gave some suggestion which are given below:

 Use landing page as a filter

 Create the ideal customer persona
 Fix on geography initially – GTM for different geographies is likely to be different.

TearDown Product-3

After completion with the zingyapp, other person came with their start-up company name Fibo
Talk. Fib talk live chat helps to engage customers on website, Facebook, Twitter and many more
messengers, from one window. He told about the use of that Fibo Talk live chat which are given


Live chat helps generate 20% more quality leads. Don’t miss a lead from website and most
popular messengers.


Businesses that offer live chat at the time of purchase are 3 times more likely to
successfully close a deal.


79% customers prefer chat. If the chat option is available, they feel more confident to deal
with the business.

After understanding the company by the panel member they gave some suggestion regarding their
websites which are given below:

 Signup page
 Friction
 Why ask for sub domain
 Focus on specific segment will help growth
 Segment specific marketing
 Integrate with sales CRM

Questions and Answers Sessions

After that questions and answers session was happened in which people about the different start-
ups ask many questions to the panel members who were presented over there. And panel
members clarified with all their answers related to the start-ups and value SaaS related question
they asked.

Why Bangalore is start up capital of India

Because of presence of resources and motivation. Here is say people. Too may engineers and mba
grads starting their career at bangalore. Soon they realise IT industries and corporates have their
cons, which are sometimes overwhelming which motivates people to start up something on their
own mostly technology related, mostly e-commerce websites and online portals, basically services
oriented businesses. And again presence of resources(more people) plus ideas make it possible,
which seems little difficult in other part of country.

There are several reason, Bangalore called as startup capital of India. Reasons are :

1. High Density of Investors

For launching any startup, funding is fundamental and critical. In Bangalore, there is relatively
easy access to a large number of venture capitalists and angel investors. You need to have a great
idea, the right state of mind, vision, motivation and right direction for your startup, and it won’t
take you long to find your guardian angel here.

Besides, the entrepreneurs can also apply to the Karnataka Government for funds provided they
register their companies under the Karnataka Shops and Commercial Establishment Act, 1961.

The Karnataka government launched the startup policy in 2015 and has set up several funds with
a corpus of over Rs. 300 crores to back startups across different sectors such as biotechnology,
tourism, and animation.

2. Amazing Infrastructure

A well-planned infrastructure is always needed for faster economic growth. In order to expand
their business one requires having adequate infrastructure in the form of roads, railway transport
system, ports, power, and airports.

A planned infrastructure-from better road to faster broadband – is essential to give startups the
confidence to grow, as it is necessary for businesses to deliver employment, growth and national

Bangalore is one of the top ranking cities in India that offers a highly developed infrastructure for
startups to launch and is positioned number 84 globally among developed urban areas.

3. Cost of Living

Founding a startup in a cosmopolitan city where the cost of living remains low is always the
preference of startup founders. In Bangalore, the cost of living still remains low compared to its
big-city counterparts like Mumbai and Delhi.

4. Technocratic Power

Bangalore city, home to between 1,800 and 2,300 active startups, has a majority of young,
hardworking tech talent available compared to other startup hubs.

Every day, Bangalore sees a huge influx of talent from all parts of the country making most of the
talent available here.

5. Meetups and Technical Events

Bangalore is the city that organizes a wide range of meetups, hackathons and many other events
every year. This fact contributes to one of the biggest reasons why the city is a heaven for startups.

These events enable budding entrepreneurs to mingle with the community, get a chance to share
their experiences of overcoming the challenges and achieving the goals.

They also get ideas and inspiration from speakers and other attendees, showcase their ideas,
products, and potential and thus get to connect with each other.

6. Climate

We all know that weather strongly influences our mood and also affect productivity,
concentration, and efficiency, so we always prefer to work at a location where we can find a
calm, soothing and pleasant weather.

That is why most of the people launch their startups in the city of Bangalore as the city has the
best weather unlike the other cosmopolitan cities.

7. Paparazzi

There is a number of Media platforms like NextBigWhat, ET Tech, Yourstory and Medianama
that are present in the city that focuses on startups and entrepreneurs. If you’ve got a great idea to
offer and a good state of mind and vision, then be sure that exposure, coverage, and networking
are all yours.

Overall Learnings from the Seminars
A seminar is a group meeting led by an expert that focuses on a specific topic or discipline, such
as business, job searches or a university field such as literature. Seminars typically take place over
the course of a few days and involve cooperative discussion, multiple speakers and opportunities
to share perspectives and issues related to the topic. Attending a seminar has numerous benefits,
including improving communication skills, gaining expert knowledge, networking with others and
renewing motivation and confidence.

Oral Communication

Seminars can be a comfortable, open environment for practicing professional communication

techniques. According to Learning Development with Plymouth University, seminars help you
become a better listener, present your arguments and ideas clearly and be open to others' points of
view. Group discussions and activities can also let you practice interpersonal skills, such as dealing
with conflicting opinions among group members and working together to accomplish assignments
or tasks.

Expert Knowledge

Seminars give you intensive exposure to a topic through presentations and discussions led by
multiple experts. Norwood Business Portal states that seminars are an ideal opportunity for people
who want to study a topic in depth, but don't enjoy reading or have the time to take classes. By
asking questions, taking detailed notes and being prepared for each day's events, you can leave a
seminar with a wide range of knowledge in a specific field.


Along with having access to experts, Norwood states that seminars also give you the opportunity
to meet other people who share your interests. Seminar discussions offer chances to debate issues
related to the field, share experiences and exchange perspectives. Learn Higher also states that
meeting new people can offer encouragement, solutions to common problems and advice for how

to handle challenges. These relationships can continue into professional connections even after the
seminar is over.

Renewed motivation

It's easy to get so caught up in the daily grind that you lose motivation or excitement for your job
or interests. Web Pro News and Business states that the intensive study of a seminar provides a
chance to get away and dedicate yourself to the topic for a few days. As a result, you may return
from the seminar with renewed motivation to pursue your goals and find your enthusiasm
rekindled. This can lead to higher productivity and fulfillment of professional and academic goals.