Dr. P.V. Viswanath

 

pviswanath@pace.edu

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  Courses / FIN 680D/INB 670C /  
 
 
 
 
 

FIN 680D/INC 670C/ FIN 360A/MAR 680V/MAR 356E:
Financing & Marketing Implications of Market Orientation in India
Fall 2008

Co-taught with Prof. P. Gopalakrishna
Mondays, 5:30 to 7:30 pm in room no. 1530, 163 William Street, New York
Email: pviswanath@pace.edu Tel: (212) 618-6518
Webpage: http://www.pviswanath.com
Blackboard: http://blackboard.pace.edu

Office W416, Pace New York
Office hours: Wednesdays, 12 noon to 2:30 pm and Thursdays, 10:45 to 1:15 pm and by appointment
Note:  I am in my office in New York most of the week; let me know if you want to see me at other times.
   

Course Objectives

The primary objective of this course is to provide the student with an introduction to the Indian economy, with a focus on infrastructure and development.

As India moves forward, one of the major challenges has been to seek financing.  India has had one of the more successful IPO markets in the last year.  However, of late, this market has flagged, along with the capital markets in other countries.  The Indian stock market dropped about 20% in the matter of a single month.  We will look at how Indian companies are addressing this challenge – what sort of financing they are using to fund their ambitious capital projects; to what extent they are using foreign capital; and to what extent India has been successful in building a successful capital market.

India has traditionally been an economy, where family-based enterprises have always been important.  As she moves forward, management expertise is going to be crucial.  This issue is also tied to corporations’ increasing use of capital markets, where investors are much more impatient and much more demanding of results than family conclaves.  We will look at how India’s family-based enterprises are evolving in this respect.

All of these developments parallel India’s move to a consumer culture and, what has been called in the marketing literature, the growing market or marketing orientation in developed and developing economies.  

Key in all this, are the institutions that India is developing to promote the kind of growth that is envisaged -- the legal system, the financial trading exchanges, the central bank (RBI) and the political system. Such institutional infrastructure must accompany growth in physical infrastructure to accomplish the desired goals.

In our trip to India, we will visit firms in several industries, financial institutions, cultural and historical sites, and business schools.

Course Text

Required Text: There are no required texts; reading materials will be provided on Blackboard in the Documents section.

Computer Use and E-mail Policy:

You should obtain a Pace e-mail address as soon as possible, so that I can send you e-mail. Any student's Pace e-mail address can be obtained by going to the Contact Pace section of the main Pace Home Page (the default password is the studentís Pace Identification Number).  More information about e-mail address, etc. can be obtained from the DoIT website.  Even if you have another e-mail address where you wish to get your e-mail, you should still get a Pace e-mail address.  Once you have your Pace e-mail account and password, you can go to the Pace University Student E-Mail Server at http://stmail.pace.edu and have your e-mail forwarded to your preferred e-mail address.  You can find information on how to have your mail automatically forwarded at http://www.pace.edu/DoIT/forward/The only way that I can communicate with you is through your Pace e-mail account.  Hence, it behooves you to get your Pace account information as soon as possible.

Check your e-mail and the FIN 680D/INC 670C/ FIN 360A/MAR 680V/MAR 356E website on a regular basis.  This will enable you to get the maximum from the course. I am available for consultation by e-mail at pviswanath@pace.edu. I check my e-mail practically every day, and, in most cases, you should get a speedy response to any questions.  

We will also be using Blackboard as a gateway for some aspects of the course.  Please log in to Blackboard at the earliest opportunity.    Blackboard login procedures can be found on the appropriate Blackboard site.  Essentially, your login ID for Blackboard will be your email ID, and your password will be your 9-digit social security number (for more details, go to the Blackboard site).  

Course Requirements

Course Activities:

There will be three kinds of course activities:

  • Online discussion
  • In-class meetings
  • Trip to various locations in Bombay and Bangalore

Participation in all three aspects of the course is required.

Exam:

There will be a single exam (only for undergraduates) at the end of the term, based partly on a pre-assigned question list.

Online Discussion:

Readings will be assigned every week. Online discussion will take place using the Discussion Board on Blackboard. New topics will be assigned every week. In general, discussion on a given topic for a particular week will end on the Saturday of that week, unless specified otherwise.

In-class Meeting Dates:

First class: General Introduction, Oct. 6 (Prof. PV)
Second class: General Marketing; Marketing in the Indian Context, Oct. 27 (Prof. G)
Third class: Finance November 10 (Prof. PV)
Fourth meeting: Retailing Industry, Advertising, Marketing Research, November 24 (Prof. G)
Fifth meeting: Presentations (only by graduate students; but all students must attend) December 1

Written Assignments:

In addition to attendance, there will one written assignment for undergraduate students and two for graduate students.

  • Write-up on the India visit. This will consist of two components:
    • one, a general report on the trip; this report will relate the lessons learned from the visit to the issues brought up and discussed during the Fall term. The length of this report may be from 2 to 4 pages.
    • two, a specialized report focusing on any one (non-cultural) visit in Bombay or Bangalore. This report will discuss the particular organization visited and related issues in detail. This report should be about one to two pages.
  • In addition to the above, graduate students will be required to work on a term paper on any topic of interest to them (e.g. microlending in India). The length of this report could be anywhere from 6 to 12 pages. They will be expected to present their findings in a powerpoint presentation to the entire class on December 1.

Since the trip was cancelled by the Dean, we substituted the following program on January 6, 2009:

  • 1:45 pm: Talk by Dr. A.M. Gondane, Deputy Consul General (Coordination and Commerce) and Ms. Smriti Seth about India's 11th Five-Year Plan and its provisions for Elementary Education
  • 3:30 pm: Movie "Slumdog Millionaire" at Cobble Hill Cinemas on Court Street, Brooklyn. (This movie went on to win an Oscar, about three days later.)
  • 6 pm: Talk by Sanjay Basu, Director, Transaction Services KPMG on "Private Equity and Venture Capital in India."
  • 8 pm: Indian Dinner at Chennai Gardens

Additional course requirements:

Write two brief reports (1 to 1.5 pages, no more) one on education in India and one on venture capital and private equity. Each report will begin by summarizing what the speakers will talk about on Jan. 6. They will then go on to discuss the following additional items.

The first report will talk about education in India and the implications for financial development and/or marketing.
The second report will discuss venture capital/private equity and the implications for development of a)financing of corporations and b)innovation

Course Structure:

See Blackboard

Readings by Area:

General Introduction:
Intro to India:

See Blackboard

Prerequisites:

For graduate students, MBA 632 or MBA 622 or MBA 662 or MBA 664(Minimum Grade of C)
For undergraduate students, FIN 260 or MAR 250

Grades

Your final grade will be determined as follows:

Factor  Impact on grade
Online Discussion 40%
Post-visit report 20%
Term Paper and Presentation 40% (0% for undergraduates)
Final Exam 0% (40% for undergraduates)

Letter grades will be assigned as follows:  

Course Grade Quantitative Class Score
A, A- 90%-100%
B+, B 80%-89.99%
B-, C+ 70%-79.99%
C 60-69.99%
F 0-59.99%

Note that the minimum and maximum quantitative scores for plus and minus refinements to the letter grades will be at my discretion. These will be partly determined by the distribution of student scores within each letter grade category.   I place a high value on effort; at my discretion, I will raise your grade one notch if I feel that you have tried hard to satisfy all the requirements of the course.