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Nobel Peace Laureate <keyword id="83501" type="PERSON" weightage="20" keywordseo="Muhammad-Yunus">Muhammad Yunus</keyword> on Saturday said building rural economy is important to stop migration amid the challenges caused due to coronavirus pandemic. "Micro credit is about building rural economy. Corona crisis has given the industry an opportunity to aid in creating a strong rural economy. Creating a strong independent rural economy will not only halt rural to urban migration but in the years to come, the migration will be urban to rural," Yunus said at a webinar by <keyword id="477100" type="ORGANIZATION" weightage="20" keywordseo="microfinance-industry">microfinance industry</keyword>. Microfinance institutions should create programmes like venture capital to create entrepreneurs in rural India, he said. There is a need for creating a national disaster fund for the sector and managed by the sector in India, Yunus said while speaking in the webinar organised by Sa-Dhan, a self regulatory organisation for the industry. Notably, India has been witnessing reverse migration of labourers and workers to their home states as lockdown imposed due to coronavirus pandemic affected them badly economically alongside huge number of job losses as well. SEE ALSO: <a href="https://www.businessinsider.in/india/news/with-233-fresh-cases-bihars-covid-19-tally-rises-to-4831/articleshow/76238545.cms">Bihar registers 233 new coronavirus cases with its overall tally rising to 4.831</a> <a href="https://www.businessinsider.in/india/news/noida-21-new-covid-19-cases-tally-591/articleshow/76238339.cms">Noida’s total coronavirus cases hit 591 with 21 new cases detected in the past 24 hours</a> <a href="https://www.businessinsider.in/india/news/342-new-coronavirus-cases-in-pune-district-six-deaths/articleshow/76239001.cms">Six more people die of coronavirus in Pune with 342 fresh cases</a>

Nobel Peace Laureate Muhammad Yunus says building the rural economy is the key to halt migration

Today's advice comes from Muhammad Yunus, Nobel Prize Winner and founder of Grameen Bank, via <a href="http://hbr.org/2012/12/muhammad-yunus/ar/1">Harvard Business Review:</a><a href="http://hbr.org/2011/03/lifes-work-norman-foster/ar/1"></a> 
"In the beginning, we were very small, so we were picky. We were trying to get the best possible staff. Now that we’re <keyword id="6357342" type="PERSON" weightage="60" keywordseo="Hiring">hiring</keyword> so many people, we’re not looking for the ideal. There will be qualitative differences in the people we hire, but it’s OK. Bring them in, and let them go through the process. We take many kinds of people, and the system turns them into ideal people."
Yunus' bank is in the business of helping low income entrepreneurs in <keyword id="6354759" type="COUNTRY" weightage="60" keywordseo="Bangladesh">Bangladesh</keyword> start their own businesses. To build that kind of an enterprise, Yunus says you need to make sure you take your time picking a solid team first. Once the company begins to scale, however, having too much control on who you hire can slow down growth. Don't get too picky about who you bring into the team, invest instead in <keyword id="6360697" type="COMPANY" weightage="60" keywordseo="training">training</keyword> new hires to fit with the company's vision. Yunus says a method that worked well for him was establishing a reward system among his employees. This united them under a single mission while promoting the company's values.
"Our goals are very clearly stated, and we monitor whether the branches are meeting them through something called Five Star. Each employee is supposed to look after 600 borrowers. If you get 100% repayment from those borrowers, you get a star. If the whole branch achieves 100%, then everyone in the branch gets a star. If you do it for the whole year, you get another star. If your branch is profitable, you get a fourth star. And if the children of the borrowers in your branch are all in school—every single child—you get the fifth star. These are stars you can wear on your chest, like in the military. So you go to work, and you see the star achievement."
Want your business advice featured in <keyword id="1737653" type="UNKNOWN" weightage="60" keywordseo="Instant-MBA">Instant MBA</keyword>? Submit your tips to <a href="mailto:tipoftheday@businessinsider.com">tipoftheday@businessinsider.com</a>. Be sure to include your name, your job title, and a photo of yourself in your email.

INSTANT MBA: Let Your Company Be The Force That Turns New Hires Into Ideal Employees

The <keyword id="166486" type="ORGANIZATION" weightage="100" keywordseo="Millennium-Development-Goals">Millennium Development Goals</keyword> (MDGs), which draw near to completion in 2015, have given way to the new <keyword id="55804" type="ORGANIZATION" weightage="100" keywordseo="sustainable-development">Sustainable Development</keyword> Goals (SDGs) la<keyword id="6355835" type="ORGANIZATION" weightage="100" keywordseo="UN">un</keyword>ched at the UN General Assembly. The event and an array of other events including the SDG Business Forum, the Social Good Summit and the Clinton Global Initiative saw large participation from various stakeholders. 
	
		In understanding and evaluating the presentations at these events, some of the pertinent points that look seemingly obvious are: First, few presentations gave any indication of serious learning from the wins-- and losses--during 20 years of MDG work. A delineation of the models that work (i.e., more sustainable and scalable) is seen as clearly missing. Second, in the absence of learning frameworks, presenters reiterate the same problems, now expanded to 17 goals and 169 targets. The result is a plea for more resources to support the new SDGs without any evidence that those resources will be employed more effectively. Third, the core request at these events was for more than four trillion dollars per year to implement the SDGs over 15 years. 
	 
	
		This logically leads to two important questions i.e., how can you call the goals replacing the MDGs sustainable if they lead with requests for resources that are not? At the beginning of the SDG process, what should the worlds’ governments, corporates and NGO leaders focus on now to make the new global goals actually sustainable?
	 
	
		Answering these questions is at the heart of societal businesses value creation that seeks to find the most innovative and sustainable models for solving intractable challenges. Societal business search firms have advocated tirelessly the need to identify models that 1) can be scaled and 2) are not reliant on non-profit funding (which is donation-dependent and driven by the dictates of donors.) 
	 
	
		The best models that have found have had social entrepreneurs at the helm who see the world differently. They frequently take the “against” position (<a href="http://goo.gl/XHWj6x">http://goo.gl/XHWj6x</a>). For instance, in branding, claiming the against position means using a competitor’s dominant spend and mindshare to carve out an anti-space—the Un-cola for example. Social entrepreneurs are quintessential against positioners. [Microfinance inventor] Mohammed Yunus stated it clearly: “I looked at how traditional banks do business and we did the opposite.” In very practical terms, these stubborn, opinionated entrepreneurs frequently show up after the aid and development models have failed or at least failed to become sustainable. Their arrival on the scene is less a ‘Kumbaya’ moment and more a “disruptive innovation” one.
	 
	
		Social entrepreneurs are relentlessly focused on what they have learned. Their conversations highlight the innovations that are rolled into ingenious, often cross-sector models and as the people who use these models to solve their own and others problems. Their resource requests are framed by why their model should be scaled and how it can replace less effective approaches. The primary goal for these innovative social entrepreneurs is to demonstrate that appropriate capacity building and scale enables their hybrid or for-profit innovation models to solve problems sustainably, thus reducing dependence on fundraising. 
	 
	
		To deliberate on these emerging business models The Shared Value Summit 2015, is being organized by Shared Value India on November 20th, 2015 (<a href="http://sharedvalue.in/svs2015/">http://sharedvalue.in/svs2015/</a>). The summit will see participation from various stakeholders who will deliberate and discuss key opportunities that businesses can and are leveraging to create societal value. 
	 
	
		Already, social entrepreneurs have offered five critical solutions to the problem of making the Sustainable Development Goals truly sustainable: First, recognizing that any commitment to achieving the SDGs must avoid Einstein’s famous definition of insanity: Doing the same thing and expecting different results. Second, authentic commitment to the SDGs requires leaders to recognize one simple reality: It is not possible to have sustainable development goals without sustainable models that leverage under-utilized resources. Third, serious SDG innovators recognize that the current donor, foreign aid and resource investment processes are not sustainable. They call attention to inadequacies and offer new models and leadership to move significant resources from unsustainable models to sustainable models. Fourth, any leader pleading for more funding should be able to explain how his/her organization will deploy that funding to scale solutions that are more sustainable than those that failed to achieve most of the MDGs. Finally, significantly improved sustainability requires the ongoing evaluation of all investments, models and approaches employed. The most sustainable solutions should then be aggressively adopted across sector and country boundaries, no matter their origin or disruption.
	 
	
		Increasingly, leaders are being asked to challenge the status quo. These leaders—often disruptors—no longer target seed stage or individual impact investments. The most impactful leaders know that pilots do not lead to scaling or to sustainability. 
	 
	
		Social entrepreneurs thrive at risk taking and from learning rapidly about what doesn’t work. These are the sustainable, scale-oriented models and management teams that are best equipped to handle significant capital and to shift how these goals are achieved to sustainable development goals.
	 (The article is co-authored with David Wilcox, the founder of ReachScale, an organization that aligns the <keyword id="76104" type="ORGANIZATION" weightage="100" keywordseo="social-responsibility">social responsibility</keyword> goals of corporations with high potential social entrepreneurs working in areas of common interest.) 
image credits: 7continents5oceans

What should the world do to make sustainable development goals truly 'sustainable'?

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy M. Rabea AlkhuderRabe's brother, Hassan, standing in front of the family's pharmacy before it was destroyed in the war.</div></div></div>Only one of Rabe Alkhuder's brothers came back alive from a Syrian prison."My mother was wailing by that time," Rabe, a Syrian refugee now living in St. Louis, Missouri, recalled in an interview with Business Insider late last month."She asked Hassan how he could be sure that his brother had died."He was describing the moment he said his brother, Hassan, emerged from one of Syrian President Bashar al-Assad's most infamous prisons, Tadmor, and told his mother that her other son, Hameed, had been killed inside."He told her that after he was beaten and hung, the guards returned the body and threw it on top of Yunus. They left both bodies there for two days. Hassan had to watch his brother lay there dead for two days. We only got Hassan back, and Hameed's death certificate. It's now been three years since we lost him."Years later, Rabe finds himself 6,000 miles away, in St. Louis, Missouri. After months of harrowing experiences, he sought and found refuge. But in a story typical of the destruction and displacement of the Syrian civil war, Rabe is still waiting to be reunited with his family.<h2 class="p1">'His name was Yunus'</h2>Two of Rabe's brothers, Hassan and Hameed, were arrested in 2011 for helping to treat protesters injured while demonstrating against the Assad regime, Rabe said. Both had gone to pharmacy school, and had their own shop in Aleppo where they sold medicine.Rabe said were detained for two months in the regime's notorious Tadmor prison in Palmyra, the city that was recently liberated from the Islamic State by Assad's Syrian Arab Army. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Wikimedia CommonsTadmor prison was located in the deserts of eastern Syria, 200 km northeast of Damascus (Tadmor or Tadmur is the Arabic name for Palmyra). Tadmor prison was known for its harsh conditions, extensive human rights abuse, torture and summary executions. It was captured and destroyed by ISIS in May 2015.</div></div></div>"One day my brothers were called to treat a victim at his home," Rabe explained. "They went to the given address and were trying to do it quietly. They knocked on the door but nobody answered, and they felt that something was wrong. Suddenly they were surrounded by Assad's intelligence forces and were captured."He continued: "As detainees, they were beaten with batons and cables. The interrogators used braided electrical cords to beat them across their backs and neck, and batons to beat them on the bottom of their feet in Tadmor. The agents promised to released them if my family paid them a ransom, so we paid $7,000 to get both of them back. But Hassan was also forced to make a deal. He had to promise to collect information for the regime about doctors and pharmacists working in Syria's medical aid networks."Hassan betrayed his captors and fled to Turkey after he was released, Rabe said. But his other brother, Hameed, was killed inside the prison."We gave them all the money and only one of my brothers walked out of Tadmor," Rabe said. "We waited and waited for my other brother. No one came. We looked at Hassan and he could not speak. My mom hurried to hug him and she begged him to tell her about her other son. Hassan just cried uncontrollably. She insisted for him to tell her right then."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Militant website via AP, FileThis photo released on Saturday May 30, 2015 by a militant website, which has been verified and is consistent with other AP reporting, shows Tadmur prison, blown up and destroyed by the Islamic State group in Palmyra (Tadmur in Arabic), Homs province, Syria. The prison was where government opponents were held and reports over the years said it was the site of beatings and torture.</div></div></div>He began to explain."He told us that while he was in prison, there was a young boy being detained in their cell along with six others. His name was Yunus. Yunus was sick all the time. One day, he suddenly fell to the ground. He got up and stumbled across the cell and fell to the floor again. He lay there on the ground curled in a ball. Yunus seem epileptic."After his release, Hassan explained that Yunus had been in the prison for a month because his family was poor and couldn't pay for his release. He was not allowed any medication for his condition, and, Hassan recalled, "on that day his health seemed to fail him all together.""Hassan ran over to the boy. He found him huddled against a stone wall. His face was buried in his arms, which were resting on drawn-up knees. Hameed tried to hold Yunus' head up because he knew that he was about to have another seizure. At first he did not understand anything Yunus was saying. It was as if he were speaking some unknown language. Yunus continued to make his plea, but nothing but gibberish came out."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">SANA/Handout via ReutersA flag belonging to the Islamic State fighters is seen on a motorbike after forces loyal to Assad recaptured the historic city of Palmyra.</div></div></div>By Hassan's recollection, Hameed sat down on the cement floor with Yunus and held him while he had a seizure."Yunus shook so violently that my brother was barely able to protect his body from banging into the cement wall," he said. "His eyes rolled back into his head. Then the guards came."The guards, Hassan explained, demanded that Hameed let Yunus go and leave him on the ground. But Hameed refused to leave him by himself. A few moments later Yunus completely collapsed and lost consciousness."The guards grabbed my brother and left this child to suffer alone from his seizure. Within a few long moments Yunus was dead."Not long after, Hameed was dead, too. After trying to get out of the guards' grip to reach Yunus after he collapsed, Hameed was dragged out of the cell and hung. <h2>'You will go behind the sun'</h2>"There's a saying in Syria that if you do something wrong, if you defy the government, you will 'go behind the sun,'" Rabe said. "In other words, you will be arrested and then just disappear. No one goes to Assad's prisons without being tortured."More than half of Syria's population has either fled or been killed since the war erupted in March 2011. The vast majority have died simply for being in the wrong place at the wrong time: barrel bombs dropped by regime helicopters on civilian targets in rebel-held areas have killed over 20,000 people, mostly civilians, in five years.Thousands more have been tortured and killed in the regime's prisons, a practice the <a href="http://www.ohchr.org/Documents/HRBodies/HRCouncil/CoISyria/A-HRC-31-CRP1_en.pdf">United Nations deemed</a> "extermination as a crime against humanity."The Islamic State and Al Qaeda's affiliate group in Syria, known as Jabhat al-Nusra, have also ruled parts of Syria with an iron fist, but far fewer have been killed by the jihadist groups than by the government and its allies.Members of Rabe's family, scattered across Syria, often found themselves in the crosshairs of the militant groups. His father and his brother, Mazen, were captured and detained by al-Nusra in November of 2013 and released unharmed shortly thereafter, he said. They now live in a village on the Turkish-Syrian border.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Courtesy M. Rabea AlkhuderRabe's brother, Mazen, with his son in Turkey.</div></div></div>Rabe said his uncle, Ahmad, was killed by the Islamic State in March 2013, along with his cousin, Hasan. They were charged with treason "for helping infidels move from one area of Aleppo to another" in 2013, Rabe said.The Free Syrian Army, an umbrella organization comprised of mostly moderate rebel groups backed by Western countries, kicked ISIS out of Aleppo later that year, Rabe explained. But before the jihadists fled, they killed all of their prisoners.Still, when asked who his own family had suffered from more, Rabe was unequivocal."Both [ISIS and Assad] are hideous," Rabe said. "But my family suffered most from the regime side." <h2>'I don't know what freedom is'</h2>Rabe's entire family left Syria in the revolution's earlier days, before the refugee crisis began in earnest and it was easier to seek and be granted asylum in neighboring countries."By January 2013, my whole family had left Syria. Now they are scattered across Turkey, Jordan, Germany, and the UAE."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy M.Rabea AlkhuderRabe with his sons, Majd and Baraa. Majd means "glory" in Arabic. Baraa means "innocent."</div></div></div>Months after the war erupted, Rabe, his wife, and their two young boys fled to Saudi Arabia where Rabe, a trained pharmacist, found work with a company that sent some of its employees to a conference hosted in a different country every year. "I've been to Spain, Austria, South Africa, and Australia for this conference. Last year it was supposed to be in the US, so I got a tourist visa," Rabe said, after providing Business Insider with the relevant documents as proof of his legal status. The conference was canceled, but he kept his tourist visa - which proved useful when, in January 2015, he lost his job in Saudi Arabia and was unable to renew his pharmacy license. "My manager in Saudi Arabia was an Assad supporter from Latakia," Rabe said, referring to the hometown of the embattled Syrian president at the center of the war. "And he knew my history - I left Syria in 2011 after participating in a demonstration against the regime, and I continued to protest in front of the Syrian consulate in Jeddah" in Saudi Arabia.With few options, then, Rabe said he left his family in Saudi Arabia and came to the US using his tourist visa."I didn't have any place else to go," Rabe said. "I came here in February [2015], and my only choice was to apply or asylum and try to get my wife and kids here."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersSyrian refugee children play near their families residence at Al Zaatari refugee camp, in the Jordanian city of Mafraq, near the border with Syria</div></div></div>In November, President Barack Obama committed to taking in 10,000 refugees from Syria over the course of 2016. It was five times more than the US has permitted in the five years since the war broke out, creating the biggest refugee crisis the world has seen since World War II. Rabe said he left Washington, DC, for St. Louis last month, where he lives with a childhood friend from Aleppo. As of this article's publishing, Rabe was still waiting for his and his family's asylum claims to be processed. He keeps in touch with his family and friends via Whatsapp, and Skype, and Facebook. His Facebook page offers a glimpse into his life before the war - photos of him and his brothers at soccer games, his trips to Sydney and Cape Town, his boys playing with iPads. Now he uses it to post videos of the war's atrocities and photos of his sons draped in the revolution's flag.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Courtesy M.Rabea AlkhuderRabe's sons, Majd and Baraa, draped in the flag of Syria's revolution.</div></div></div>He is under no illusion that his family will ever be reunited in Aleppo. The war will rage on, he believes, as long as Assad remains in power."I can't see an end to this war, and no one is helping to solve the root of the problem, which is Assad," Rabe said. "Assad is the head of the snake." The embattled president recently said in an interview that he didn't think it would be difficult to form a coalition government with members of the opposition, and that he would call for new elections if that is what the Syrian people wanted. Rabe laughed at the notion, saying that he had never voted because there is no use in it."I don't know what voting is. I don't know what freedom is," he said. Then, he began to cry."Since moving to the US, I've met many Americans who ask me what it was like growing up under that dictatorship. They then say they 'can't imagine' what it must have been like, that they were born free and will die free.""I've never experienced that," he said, with a sad smile. "I will never experience that." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/arianna-huffington-donald-trump-abortion-clear-present-danger-2016-3">ARIANNA HUFFINGTON: Trump's abortion comments are a sign he's not operating on all cylinders</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="A5MjZoMjE6OoN69hH7HXkVV5Z-s5cb2n" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

A refugee describes being persecuted by ISIS and Al Qaeda - and what it was like 'to go behind the sun' in Assad's Syria

Dhaka, Feb 6 (AFP) Bangladeshi Nobel laureate Muhammad Yunus is facing more than 100 lawsuits from disgruntled employees at the telecoms unit of his poverty-busting microfinance Grameen Bank, lawyers said Thursday.The cases filed against him and other senior managers in a Dhaka court relate to claims from Grameen Telecom (GT) employees for a share of profits, their lawyer Jafrul Hasan Sharif said.Yunus has faced mounting legal problems in recent years. In 2011 he was sacked as head of Grameen Bank in a move his supporters said was orchestrated by Prime Minister Sheikh Hasina."According to Bangladesh's Worker's Profit Participation law, Yunus's Grameen Telecom was bound to share five percent of the company's profit with the workers," lawyer Hasan told AFP."But for the last 10 years, the GT didn't do so." Grameen Telecom operates a service called "Village Phone" dedicated to getting cellphones to the rural poor in the South Asian nation of 165 million people.The company also owns a 34.2-per cent stake in GrameenPhone, Bangladesh's largest mobile phone operator with some 75 million subscribers.Yunus, 79, who founded Grameen Bank in the 1980s and was awarded the Nobel Peace Prize in 2006, could not be reached on Thursday.A spokesperson declined to comment.Last month the economist was granted bail by a labour court after an arrest warrant was issued when he failed to appear at a hearing in a separate case.He has been at odds with premier Hasina since a brief and unsuccessful foray into Bangladesh's fiery, high-risk political scene in 2007.Hasina has accused him of "sucking blood" from the poor amid allegations his bank charges interest rates of around 20 percent.In 2013, he was the subject of a state-backed hate campaign that painted him as un-Islamic and a spreader of homosexuality, which is illegal in Bangladesh. (AFP) NSA

Nobel laureate Yunus facing over 100 Bangladesh lawsuits

<a href="http://www.businessinsider.in/topic/ratan-tata">Ratan Tata</a> has in the recent past invested in several <a href="http://www.businessinsider.in/shout-out-to-entrepreneurs-ratan-tata-is-back-and-ready-to-invest-in-your-startup/articleshow/57018459.cms">local startups</a> through his personal investment vehicle RNT Associates. Now, the septuagenarian wants <keyword id="6383155" type="UNKNOWN" weightage="20" keywordseo="Tata-Trusts">Tata Trusts</keyword>, a group of charitable institutions that own 66% of <a href="http://www.businessinsider.in/breaking-news-n-chandrasekaran-is-the-new-tata-sons-chairman/articleshow/56500469.cms">Tata Sons</a>, to invest in <keyword id="910850" type="COMPANY" weightage="20" keywordseo="social-enterprises">social enterprises</keyword>. As of now, these enterprises can only get grants from Tata Trusts. 
 
For this, a three-tier structure is being set up, which would fund socially relevant businesses before they receive support from Tata Sons; following this, they would catch the attention of several other investors. 
 
Also read: <a href="http://www.businessinsider.in/ratan-tata-interferes-in-all-decisions-thinks-himself-as-the-chairman-who-never-retired-cyrus-mistry/articleshow/56752544.cms">Ratan Tata interferes in all decisions, thinks himself as the chairman who never retired: Cyrus Mistry</a> 
 
"I have Mr Tata's support to set up a new fund that will straddle the middle path between philanthropy and venture capital. The fund will sit outside the Tata Trusts' architecture but will invest in socially relevant and viable businesses incubated within the trust," Manoj Kumar, head of innovation at the Tata Trusts, told ET. 
 
Tata Trusts has its innovation centres in Indian Institute of Science, Indian Institute of Technology and Massachusetts Institute of Technology, which would be used as the first layer in this structure. 
 
Socially relevant business ideas will get funds through grants that these institutions get, and the ones that will prove their worth would then get transferred to the Foundation for Innovation and Social Entrepreneurship (FISE), under Kumar's leadership. 
 
FISE will be the second layer of the structure. 
 
The third layer would then be a fund for enterprises with maximum potential for social change. 
 
Also read: <a href="http://www.businessinsider.in/tata-group-under-scrutiny-apex-body-of-chartered-accountants-is-looking-at-alleged-accounting-irregularities-at-tata-companies/articleshow/57150133.cms">Tata Group under scrutiny: Apex body of Chartered Accountants looking at alleged accounting irregularities at Tata companies</a> 
 
<a href="http://www.businessinsider.in/topic/Tata-Trusts">Tata Trusts</a> have been granting funds to educational institutions, and to individuals and non-profit organisations involved in socially useful work. Reputed cancer treatment facilities, viz. <a href="http://www.businessinsider.in/What-a-breakthrough-Tata-Memorial-docs-find-a-new-way-to-increase-lifespan-of-oral-cancer-patients/articleshow/47525007.cms">Tata Memorial Hospital</a> (Mumbai) and the Tata Medical Centre (Kolkata) have been running by the support of Tata Trusts. 
 
In last FY, the trusts collectively spent about Rs 800 crore in the form of grants, out of which more than two-third amount was spent on health, education, natural resource management and livelihood. 
 
(Image source: InsideIIM)

Tatas might start funding social enterprises

<div class="image-container float_right"><div class="image"><a href="http://www.whosay.com/ChrisBosh/photos/384327">Chris Bosh</a></div></div>Earlier this month <a href="http://www.businessinsider.com/hedge-fund-barriers-to-entry-rise-2013-12'">Citi published a report indicating</a> that anyone with less that $300 million assets under management in their hedge fund shouldn't even get out of bed in the morning. Crestfallen, many Wall Streeters resigned themselves to toggling spreadsheets for 'the man' (instead of becoming the man) for the rest of their careers. It was a dark day.
Lucky for them, however, Citi does not have the final word on this matter.
Looking for hope, <keyword id="6355515" type="ORGANIZATION" weightage="60" keywordseo="Business">Business</keyword> Insider spoke with Jeff Rosenthal, the head of the Financial Services Practice Group at Anchin, Block &amp; Anchin, a top 30 accounting firm. He's been advising start up <keyword id="116445" type="COMPANY" weightage="60" keywordseo="Hedge-funds">hedge funds</keyword> since the 1980s, and says the game is tougher now than it was then, but Citi didn't get it all right - you can still get in the game with $25-$50 Million assets under management (or even less).
You just have to be smart about it, or you will fail. He's seen it time and time again. Traders may trade. Investors may invest, but an investment firm is more than its strategy.
"You have to be able to put together a budget together and commit yourself," said Rosenthal.
You have to be able to start a <keyword id="6359222" type="UNKNOWN" weightage="60" keywordseo="small-business">small business</keyword> - something they don't teach you during your time as an analyst at JP Morgan or Goldman Sachs. If you can't do that, it's over.
At first, since your firm will be small, surviving is the game. Maybe you'll have a Bloomberg terminal, a few employees you'll need to work out payroll for, and a prime broker. Rosenthal advises that you "try to instill a culture of compliance early" , but the huge compliance headaches won't come until you've got $150 million AUM.
Until that time - the time when you can attract that sticky institutional or fund of funds money - you'll be working with fickle high net worth individuals. Try to work out a lock-in period if you can.
Even if you do get that though, plan a budget where you see yourself losing money for the first two years.
Yes, you're a star. You're a great trader. You're awesome. But you will still lose money.
"The first two years are critical," Rosenthal said. "You need good returns, a good message, and you'll need investors to promote you as well."
That means communicating with your investors clearly, and making sure they understand your strategy.
Before you try ANY of this, Rosenthal suggests you maybe set up a single member LLC to invest your own money for a year or so. Use a strategy you're good at. See how it goes.
It's a hard road ahead of that, and you've got to crawl before you can walk.

Here's What You Need To Understand If You Want Your Starter Hedge Fund To Survive

New Delhi: The Indian garment and knitted fabric sector is witnessing a bit of uncertainty due to the <keyword id="22498521" type="General" weightage="20" keywordseo="Bangladesh-crisis" source="keywords">Bangladesh crisis</keyword>, Finance Minister <keyword id="19916618" type="General" weightage="100" keywordseo="Nirmala-Sitharaman" source="keywords">Nirmala Sitharaman</keyword> said on Saturday, expressing hope that the interim government there will settle things "sooner rather than later." Interacting with the media on the sidelines of customary post Budget address to the central board of <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>, she said efforts are being taken to ensure that borders with the neighbouring country are safe. With regard to Indian investments, she said, the textile industry particularly from Tamil Nadu has made investments there in good faith and they have done well having gone there. "The exports from <keyword id="19919639" type="General" weightage="20" keywordseo="bangladesh" source="keywords">Bangladesh</keyword> also increased because of the duty and quota liberal approach that we have towards low-income countries. They (Indian garment industry based in Bangladesh) could even export to India." Particularly, she said, the garment and knitted fabric sector is seeing a bit of uncertainty because of the crisis in the neighbouring country. "I hope that the investments are all safe... it's too early for me to see what kind of an impact this situation in Bangladesh will have on our economy. I hope that the interim government will settle things sooner rather than later so that both the people of Bangladesh and India can get back to normalcy," she said. Earlier this week, Bangladesh plunged into a political crisis when Sheikh Hasina resigned as the Prime Minister and fled the country. Soon after Parliament was dissolved leading to the creation of an interim government. The 84-year-old Nobel laureate Muhammad Yunus on Thursday took oath as the head of an interim government, replacing Sheikh Hasina who abruptly resigned and fled to India leaving the country in turmoil following deadly protests against her government over a controversial quota system in jobs. On Friday, Bangladesh's interim leader Yunus announced the portfolios of his 16-member council of advisors and named a former top diplomat to head the foreign ministry. The Nobel laureate's first task is to bring stability to Bangladesh after he responded to a call by student protesters for him to temporarily lead the country following weeks of deadly anti-government demonstrations against the government led by Sheikh Hasina.

Garment sector facing uncertainty due to Bangladesh crisis, normalcy may return soon: FM Nirmala Sitharaman

<keyword id="1737805" type="UNKNOWN" weightage="60" keywordseo="Social-Media-Insights">Social Media Insights</keyword> is a daily newsletter from Business Insider that collects and delivers the top <keyword id="6354632" type="COMPANY" weightage="60" keywordseo="Social-media">social media</keyword> news first thing every morning. You can <a href="http://www.businessinsider.com/newsletter">sign up</a> to receive Social Media Insights <a href="http://www.businessinsider.com/newsletter">here</a> or at the bottom of this post.

<div class="image-container float_right" style="width:400px"><div class="image"></div>RadiumOne</div><a href="http://venturebeat.com/2013/03/27/are-hashtags-geeky-71-of-social-media-users-say-no/">Are Hashtags Geeky?</a> (RadiumOne via VentureBeat) Almost three quarters of social media users now employ hashtags, a new study by digital ad agency RadiumOne suggests, and close to half click on hashtags to explore new related content. That’s more than a little surprising, since hashtag use in social media started as an informal and unsupported convention used mostly by developers and the technorati. Clearly, however, not anymore. "Seventy-one percent of consumers say they post hashtags from their mobile devices," RadiumOne VP Kamal Kaur says. "I’ve even caught myself hashtagging in my emails." <a href="http://venturebeat.com/2013/03/27/are-hashtags-geeky-71-of-social-media-users-say-no/">Read &gt;&gt;</a>
<a href="http://www.business2community.com/social-media/tumblr-for-business-what-is-tumblr-0447585">Tumblr For Business - What Is Tumblr?</a> (Business2Community) Is there room on <keyword id="279713" type="COMPANY" weightage="60" keywordseo="Tumblr">Tumblr</keyword> for my business? Tumblr is a powerful tool for many businesses to showcase their products and gain traction with their followers. Simply put, Tumblr is an image blogging site. Users post interesting photos, videos, and other media to their followers, who can then share it with their followers as well. Tumblr’s heavy emphasis on visual media and the low barriers to sharing content makes it a suitable choice for many consumer-based businesses. Like most social media platforms, Tumblr attracts a certain demographic. According to Quantcast, the primary users of Tumblr in the United States are 18-34 year old females with low income. <a href="http://www.business2community.com/social-media/tumblr-for-business-what-is-tumblr-0447585">Read &gt;&gt;</a>
<a href="http://www.business2community.com/social-media/how-to-use-video-as-an-extension-of-social-media-0448964">Using Video As An Extension Of Social Media</a> (Business2Community) One of the primary reasons for using social media in the first place is to establish and nurture a community of clients and other like-minded folks. Videos help build a feeling of community among consumers faster than other methods. More people are willing to share video content and there is a personal touch gained from authentic videos. Companies who use real employees in their videos help this process along. An overall sense of transparency and connection with a company is more likely to emerge from this process. <a href="http://www.business2community.com/social-media/how-to-use-video-as-an-extension-of-social-media-0448964">Read &gt;&gt;</a>
<a href="http://www.infoworld.com/d/applications/enterprise-apps-get-social-215324">Enterprise Apps Get Social</a> (InfoWorld) Social media mania is having a huge impact on traditional business applications. Combining the ad-hoc nature of social media with the more structured world of enterprise apps is often the best of both worlds. Companies that are leveraging this trend are seeing significant benefits, including collaboration and data sharing in ways they've not experienced before. Adding social media extensions to applications makes it possible for companies to share business insights generated by these apps. In general, social data can be used to enhance a variety of other sources. <a href="http://www.infoworld.com/d/applications/enterprise-apps-get-social-215324">Read &gt;&gt;</a>
<div class="image-container float_right" style="width:400px"><div class="image"></div>Constant Contact</div><a href="http://www.marketingpilgrim.com/2013/03/smbs-rarely-post-to-linkedin-and-twitter-but-still-claim-social-media-success.html">SMBs Rarely Post To LinkedIn, Still Claim Social Media Success</a> (Constant Contact via Marketing Pilgrim) For the <keyword id="6359222" type="UNKNOWN" weightage="60" keywordseo="small-business">small business</keyword> owner, social media is both a blessing and a curse. On one hand, it’s a relatively inexpensive form of online advertising, but on the other hand it can take up a lot of time to deliver only minimal results. When Constant Contact asked 1,000 small business owners which social media network was tops, <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword> was named most often, followed by <keyword id="28120" type="CITY" weightage="60" keywordseo="Linkedin">LinkedIn</keyword>. That said, in terms of the latter, only 3 percent said they post daily. Posting only once a day will only get you seen by a tiny portion of your audience. <a href="http://www.marketingpilgrim.com/2013/03/smbs-rarely-post-to-linkedin-and-twitter-but-still-claim-social-media-success.html">Read &gt;&gt;</a>
<div class="image-container float_right" style="width:324px"><div class="image"></div><a href="http://www.emarketer.com/Article/Twitter-Forecast-Up-After-Strong-Mobile-Showing/1009763">eMarketer</a></div><a href="http://www.emarketer.com/Article/Twitter-Forecast-Up-After-Strong-Mobile-Showing/1009763">Twitter Ad Revenue To Near $1 Billion In 2014</a> (eMarketer) eMarketer has raised its forecast for advertising spending on <keyword id="6354616" type="CITY" weightage="60" keywordseo="Twitter">Twitter</keyword> for 2013 and 2014, estimating the company will earn $582.8 million in global ad revenue in 2013 before nearing $1 billion next year. According to the new forecast, more than half of Twitter's ad revenues — about 53 percent — will come from mobile advertising this year, up from virtually no ad revenue from mobile in 2011. Advertising on mobile devices will be where Twitter sees the most incremental growth over the next two years. By 2015, Twitter is expected to pull in $1.33 billion in worldwide ad revenue, more than 60 percent of which will come from mobile advertising. <a href="http://www.emarketer.com/Article/Twitter-Forecast-Up-After-Strong-Mobile-Showing/1009763">Read &gt;&gt;</a>
<a href="http://www.jeffbullas.com/2013/03/28/6-things-that-you-didnt-know-about-twitter/">Things That You May Not Know About Twitter</a> (Jeff Bullas) Twitter was never meant to be a social network. In fact Twitter started life as an internal messaging service for a podcasting company just over seven years ago. But how things have changed. Do you know these facts?
<ol>
<li>Tweeting more gets you more followers</li>
<li>You can send Tweets with a text message</li>
<li>Tweets with media receive on average 3 to 4 times more engagement</li>
<li>Using more @mentions increases your follower growth faster</li>
<li>Hashtags can increase engagement by almost 100 percent</li>
<li>Retweeting more gets you more followers</li>
</ol>
On the social Web we live on a diet of fast change and rapid media evolution. And Twitter has become a multi-media social network without anyone really noticing. <a href="http://www.jeffbullas.com/2013/03/28/6-things-that-you-didnt-know-about-twitter/">Read &gt;&gt;</a>
<a href="http://blog.exacttarget.com/blog/jonathan-gandolfs-blog/marchmadness-on-twitter-who-won-round-2-infographic">March Madness On Twitter: Who won Round 2?</a> (ExactTarget) <keyword id="952232" type="UNKNOWN" weightage="60" keywordseo="March-Madness">March Madness</keyword> is only getting madder. The proliferation of social media is driving teams, schools, media, fans, and even mascots to the Internet to interact with their fellow basketball loyalists. There were winners, losers, and underdogs. <a href="http://blog.exacttarget.com/blog/jonathan-gandolfs-blog/marchmadness-on-twitter-who-won-round-2-infographic">Read &gt;&gt;</a>
<div class="image-container center" style="width:600px"><div class="image"></div><a href="http://blog.exacttarget.com/blog/jonathan-gandolfs-blog/marchmadness-on-twitter-who-won-round-2-infographic">ExactTarget</a></div>

Hashtags Have Gone Mainstream

<keyword id="1737805" type="UNKNOWN" weightage="60" keywordseo="Social-Media-Insights">Social Media Insights</keyword> is a daily newsletter from Business Insider that collects and delivers the top <keyword id="6354632" type="COMPANY" weightage="60" keywordseo="Social-media">social media</keyword> news first thing every morning. You can <a href="http://www.businessinsider.com/newsletter">sign up</a> to receive Social Media Insights <a href="http://www.businessinsider.com/newsletter">here</a> or at the bottom of this post.

<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.emarketer.com/Article/Big-Biz-Puts-Dollars-Internal-Social-Development/1009809">Altimeter Group via eMarketer</a></div><a href="http://www.emarketer.com/Article/Big-Biz-Puts-Dollars-Internal-Social-Development/1009809">Big Business Puts Dollars Into Internal Social Development</a> (eMarketer) Large companies aren’t just spending on social media in a way that touches customers directly. They’re also investing in developing social media capabilities within their own organizations. According to a study of worldwide companies with over 1,000 employees conducted by the The Altimeter Group, companies dedicated between 20% and 37% of their total social media development spending to “internal social media” in 2012. Larger companies were the biggest investors in internal social development, both in dollar terms and as a percentage of total social development spending. Companies with revenues between $1 billion and $10 billion spent an average $562,069 on internal social media, compared with $968,548 on external spending. Companies with revenues over $10 billion spent $1.3 million on average on internal measures and $2.9 million on outward-facing ones. <a href="http://www.emarketer.com/Article/Big-Biz-Puts-Dollars-Internal-Social-Development/1009809">Read &gt;</a>
<a href="http://www.jeffbullas.com/2009/09/29/14-tips-to-source-and-create-great-content-for-social-media/">Tips To Source And Create Great Content For Social Media</a> (Jeff Bullas) What most people and companies don’t realize is that they have great content, it just happens to be offline in files on computers that are waiting to be repurposed for online. It can be interviews or press releases that can be edited, summarized or combined. There are presentations you have used for clients, articles you have sent to clients, information from your suppliers that is sitting on your computer, there are training videos that could be edited for YouTube, videos taken at conferences. The core foundation for your content should be initially a blog as part of your own website’s domain— this will help with creating links that will improve your Search Engine Optimization (SEO). <a href="http://www.jeffbullas.com/2009/09/29/14-tips-to-source-and-create-great-content-for-social-media/">Read &gt;</a>
<a href="http://www.redorbit.com/news/technology/1112821454/facebook-social-media-use-poor-academic-performance-bad-grades-041113/">Social Media Linked To Poor Academic Performance</a> (redOrbit) Could texting, tweeting and other use of social media hurt one’s GPA? That’s what researchers from The Miriam Hospital’s Centers for Behavioral and Preventive Medicine sought to discover, and the results are that the widespread use of social media among college students, which includes texting to chatting on mobile phones and even just posting status updates on <keyword id="6354576" type="CITY" weightage="60" keywordseo="Facebook">Facebook</keyword>, could take an academic toll. According to this new study, many students are engaged nearly half the day in some form of media use. The study found freshmen women were spending nearly 12 hours a day texting, using the Internet for social media networking, or listening to music and watching videos. Researchers found much of this high use of media was associated with lower grade point averages (GPAs) and other negative academic outcomes. <a href="http://www.redorbit.com/news/technology/1112821454/facebook-social-media-use-poor-academic-performance-bad-grades-041113/">Read &gt;</a>
<div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://www.business2community.com/small-business/how-small-businesses-are-using-social-media-to-grow-their-visibility-0461548">Intuit</a></div><a href="http://www.business2community.com/small-business/how-small-businesses-are-using-social-media-to-grow-their-visibility-0461548">How Small Businesses Are Using Social Media</a> (Business2Community) Social Media is a great way for <keyword id="6359222" type="UNKNOWN" weightage="60" keywordseo="small-business">small business</keyword> owners to grow their visibility online. Case in point, in a recent survey by Manta of 600 small business owners across the United States: 90% of them said that they are actively engaged in <keyword id="6379342" type="UNKNOWN" weightage="60" keywordseo="Social-Networking">social networking</keyword> sites and 74% felt that social networking online was very valuable and that it was starting to outweigh networking in person. What can you do as a small business owner to grow your visibility and become active in social media? By using the acronym R.A.C.K.: Research, actively engage, connect and remember — knowledge is sharing. According to Intuit, some of the things that small business owners are doing can be found in the <a href="http://www.business2community.com/small-business/how-small-businesses-are-using-social-media-to-grow-their-visibility-0461548">full infographic</a>. <a href="http://www.business2community.com/small-business/how-small-businesses-are-using-social-media-to-grow-their-visibility-0461548">Read &gt;</a>
<a href="http://malharbarai.com/2013/04/11/10-reasons-business-blogging-is-better-infographic/">Reasons That Business Blogging Is Better</a> (Patricia Redsicker via Malhar Barai) Business <keyword id="35620" type="UNKNOWN" weightage="60" keywordseo="blogging">blogging</keyword> should be one of the top initiatives in any brands' content strategy. This infographic gives 10 reasons why business blogging is better than using Facebook. <a href="http://malharbarai.com/2013/04/11/10-reasons-business-blogging-is-better-infographic/">Read &gt;</a>
<div class="image-container center" style="width:504px"><div class="image"></div><a href="http://www.wordviewediting.com/10-reasons-business-blogging-is-better-than-facebook-infographic/">Patricia Redsicker</a></div>

Big Business Pouring Money Into Social Tools

This post is part of the "<a href="http://www.businessinsider.com/category/future-of-business">Future of Business</a>" series, which examines how cutting-edge technologies are rapidly reshaping our world, from how businesses run to how we live. "<a href="http://www.businessinsider.com/category/future-of-business">The Future of Business</a>" is sponsored by SAP.
<a href="http://www.businessinsider.com/category/future-of-business">See more Future of Business &gt;&gt;</a><div class="image-container float_right" style="width:400px"><div class="image"></div><a href="http://blog.adamnash.com/">Adam Nash</a></div><keyword id="6354632" type="COMPANY" weightage="60" keywordseo="Social-media">Social media</keyword> tools for work coupled with mobile devices and easy access to the Internet have changed the working world.
Some researchers have come up with a new term for this phenomenon: "the social operating system."
In other words, your life, particularly your work life, is no longer about the physical world, it's half physical and half virtual.
"We've moved from working with atoms to work with bits and as soon as we work with bits, we can move around," he says Professor Barry Wellman, director of the NetLab institute at the University of Toronto and coauthor of the book "Networked: The New Social Operating System.
This new way of being connected is drastically altering our work lives and changing how companies work with customers. 
Some companies "get" the "social operating system" and have tapped into it in all kinds of ways: from finding young talent to creating new sales models. 
Here are some examples:
Whirlpool is a hundred-year-old appliance company with 68,000 employees. Like many older organizations, its baby boomer generation of leaders are retiring. It needed to identify younger up-and-comers to replace them, according to a <a href="http://www.hotspotsmovement.com/research-institute/research-consortium/case-studies-2.html">case study on Whirlpool</a> by the Future of Work Research Consortium.
The traditional ways of finding people to promote was to ask the managers at the top. But those managers were often not big players in the company's various social networks. Whirlpool decided to adopt something called "a sociogram" or social network graph, to examine these social networks and find people who were influential on them.
Wells-Fargo has a goal of turning its workforce into a "social everywhere" organization. That's its internal term for a hyper-connected workforce where social collaboration tools are embedded in every work process of every employee. Ideally, these collaboration tools reach from employees to customers as well. The bank <a href="http://www.informationweek.com/thebrainyard/news/240142255/wells-fargos-frustrating-taste-of-enterprise-social-success">did a pilot test where it set up a group chat</a> between loan officers and salespeople. Instead of one-on-one instant messages, it set up a group chat and the loan processing team was able to shave a days off the six-week approval process.
ADP: Like many companies, ADP is encouraging salespeople to use social media channels to connect with customers and prospects. Internally, the <a href="http://www.rohitbhargava.com/2012/10/7-tips-b2b-brands-social-selling-sales.html">company has built a library of videos </a>and other how-to materials in which salespeople share how they used social media (and other resources) to close deals. This not only trains people in how to improve their sales through social media, it helps salespeople connect with each other across the company.

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