CMAI Launched CMAI ARBITRATION CELL to Provide Immense Support to the Industry Members

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One of India’s oldest and largest association representing the interests of the Domestic Garment Industry, CMAI (Clothing Manufacturers Association of India) has launched one of its most important and significant new initiatives – the CMAI ARBITRATION CELL.L to R: Mr. Pravin Gala, Mr. Ketan Sanghavi, Mr. Nikhil Furia, Mr. Rohit Munjal, Mr. Rajesh Masand, Adv. Shaunak Thakker, Mr. Jayesh shah and Mr. Nirav SanghaviWhilst CMAI has been providing Conciliation and Mediation support to its Members for several years now, the institution of an Arbitration Award will give a far greater Legal strength to the recipient.The Domestic Garment industry in India has been traditionally plagued by extended credit terms, often accompanied by unfair and arbitrary return of goods, deductions whilst making payments, and arm-twisting of micro and small Manufacturers.CMAI’s Research on the Indian Domestic Market estimate the total Market size to be close to 6.5 lakh crores. Even if one were to estimate a miniscule percentage of 1% as the amount under disputed or delayed or denied payments, the amount would come to a staggering 6,500 crores. This clearly underlines the need for a quick, efficient, and economical mechanism for resolving such disputes and complaints.Unfortunately, existing Legal Systems makes access to a legal recourse expensive, time consuming, and very often entirely ineffective. This is precisely why world over, Arbitration is being resorted to settle commercial disputes in an inexpensive and timely manner, and at the same time providing the appropriate objectivity, professionalism, and domain knowledge in the settlement process.Following the footsteps of this increasing trend, whilst it will continue its informal Conciliation process, CMAI launched its ARBITRATION CELL on 23rd November – which promises to provide immense support to the Industry members, consisting largely of MSME manufacturers. CMAI has designed its Arbitration Rules and Regulations keeping in mind the Industry practices and at the same time ensuring fairness and equity to all stakeholders.Speaking at the function, Adv. Shaunak Thakker, Lawyer and Fellow of the UK Arbitrators, underlined the usefulness of the Arbitration process, and complimented CMAI for introducing this concept in their activities.Rajesh Masand, President, CMAI, whilst briefing the members, informed that the Panel of Arbitrators of CMAI will include leading members of the industry with impeccable credentials, legal luminaries, as well as individuals of high repute. The Panel will also include members from other Trade Associations from all over the country.A book on CMAI Arbitration Rules and Regulations was also released by Past President Ashok Rajani and other dignitaries.On this occasion, CMAI also launched their CMAI MEMBERSHIP CARD which entitles the CMAI Member to a variety of benefits and discounts from close to 25 top Brands and Retailers of the country.For more information, please visit: www.cmai.in.

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal