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ASBM Business Updates is a Weekly Selective Compilation of Business News from Various Sources. To find details follow the links.
ASIAN SCHOOL OF BUSINESS MANAGEMENT
11th Foundation Day…
The 11th Foundation Day "Astitwa" of Asian School of Business Management was celebrated with the gracious presence of the Vice Chancellor, Ravenshaw University, Dr. Prakash Chandra Sarangi. In his lecture, Dr. Sarangi beautifully compared the education scenario in olden days with that of now and went on to talk about the process of acquiring knowledge. He further said that with the advent of technological breakthrough the knowledge is not confined to printed paper or book. He impressed the young audience saying “Today's society is knowledge society, knowledge economy and we are all knowledge worker”. He urged for a collaborative democratic development by developing a skill of learning to learn. He further said that local culture needs to be accommodated with the technology and access to e-resources should be widened. In the name of advancement we have to control nature considerably but we have to decide how much is enough. So he advised to develop a skill of learning to learn to make a striking balance between nature and technology.
BUSINESS COMMUNICATION
Twitter brings a new Message button for business communication
Business communication today forms the core of any social media platform. From Facebook to Twitter, the traditional social networking is undergoing a revamp to make the platforms increasingly useful to business organizations. Aiming for the same, Twitter has launched a new Message button which can be embedded on business websites. The message button is a powerful business communication tool that will allow the site visitors to directly message the company on Twitter. Unlike the Tweet, Share, Mention or Hashtag button, this button will enable a more private and instant conversation for customers and visitors.
INSURANCE
Railway passengers to get Rs10 lakh insurance cover from 31 August
A travel insurance cover of up to Rs10 lakh can be availed while booking a train ticket online by paying less than one rupee from 31 August.
A person booking a train ticket through the IRCTC website will be able opt for travel insurance cover for a premium of 92 paise only from 31 August, said a senior Railway Ministry official.
Railway minister Suresh Prabhu had in his budget speech announced that the railways will provide optional travel insurance for train journey at the time of booking.
The new facility will be available to all passengers excluding those travelling on suburban trains while booking online irrespective of the class. It will be started on a trial basis.
The cover will not be applicable for children upto 5 years of age and foreign citizens. It will be for passengers holding tickets such as confirmed, RAC and wait-listed ones, said the official.
The scheme offers travellers/nominees/legal heirs a compensation of Rs10 lakh in the event of death or total disability, Rs7.5 lakh for partial disability, upto Rs2 lakh for hospitalisation expenses and Rs10,000 for transportation of mortal remains from the place of a train accident or where an untoward incident, including terrorist attack, dacoity, rioting, shootout or arson, occurs.
However, no refund of the premium will be given in case of cancellation of the ticket.
The scheme is being implemented by IRCTC in partnership with ICICI Lombard General Insurance, Royal Sundaram General Insurance and Shriram General Insurance selected through a bidding process.
A total of 19 companies had participated in the bidding process and 17 were found eligible. The three selected insurance companies will get to issue the insurance policy on a rotational basis through an automated system.
SUPPLY CHAIN
Henkel opens global supply chain hub in S'pore
German adhesive technologies and consumer goods giant Henkel opened its global supply chain hub in Singapore yesterday as part of its efforts to merge the firm's supply chains around the world.
The hub at PSA Building in Alexandra Road and another newly opened hub in Amsterdam will standardise and merge the firm's purchasing, production and logistics processes across its three business units: adhesive technologies, beauty care, and laundry and home care.
It will help steer Henkel's "biggest transformation initiative", said Mr Thomas Holenia, president of Henkel Singapore, at the launch. "The goal is to simplify the organisation and secure the company's long-term competitiveness in terms of efficiency, speed and agility."
Mr Holenia, who is also corporate vice-president of global purchasing and managing director of Henkel Asia-Pacific supply chain, noted Singapore was chosen for its excellent logistics capabilities, availability of supply chain talent, and its position in the heart of Asia, one of the firm's key growth markets.
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Source of Information for this issue: Google alert accessed on Aug 29, 2016
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Compilation
Sabita Sahu
Asst Librarian
Information and Documentation Division, Chanakya Central Library
Asian School of Business Management
Shiksha Vihar Bhola,
Barang Khurda Road, Chandaka
Bhubaneswar-754012
www.asbm.ac.in
Tel:0674-2374832, 2374833
E-mail:library@asbm.ac.in,
Sabita Sahu, Asst Librarian, Knowledge and Information Services Unit, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in ; www.asbm.ac.in
Sabita Sahu, R S Deavarai, Chanakya Central Library, Asian School of Business Management, Bhubaneswar. library@asbm.ac.in , chieflibrarian@asbm.ac.in ; www.asbm.ac.in ; Knowledge Is Power, Be Knowledgeable, Be powerful. Asian School of Business Management sets standards in Quality Business Education.