France recalls ambassadors to US, Australia over submarine row

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Paris, Sep 18 | France has decided to recall its ambassadors to the US and Australia for consultations after Canberra scrapped a deal to acquire French-designed submarines and decided instead to invest in the US nuclear-powered submarines.

“At the request of the President of the Republic, I decided to immediately recall to Paris for consultations our two ambassadors in the United States and Australia. This exceptional decision is justified by the exceptional seriousness of the announcements made on Sept. 15 by Australia and the United States,” said French Minister for Europe and Foreign Affairs Jean-Yves Le Drian in a statement on Friday.

According to French media, it is the first time in the history of France that such a decision was taken vis-a-vis these two countries, Xinhua news agency reported.

Earlier in the day, Secretary of State for European Affairs Clement Beaune said France cannot trust Australia in its ongoing trade talks with the European Union (EU) after the new security partnership called “AUKUS” (Australia-UK-US) was unveiled by the three countries on Wednesday.

A first initiative under the trilateral partnership will be the delivery of a nuclear-powered submarine fleet to Australia by the U.S. and the UK, while back in 2016 Australia signed a contract with France for the purchase of 12 conventional diesel-electric submarines.

Le Drian on Thursday called the trilateral move a “stab in the back.” “We had established a relationship of trust with Australia. This trust has been betrayed,” he said.

“The American behavior worries me; this unilateral and brutal decision is very similar to what Mr. (Donald) Trump was doing,” he added.

Amid international worries about the proliferation of nuclear material and technology via the deal, the International Atomic Energy Agency (IAEA) has said in a press release that it will “engage with them (Australia, the US, and the UK) on this matter in line with its statutory mandate, and in accordance with their respective safeguards agreements with the Agency.”

China has also voiced opposition against the trilateral move, describing it as a “sheer act of nuclear proliferation.”

Wang Qun, Chinese envoy to the United Nations and other international organizations in Vienna, has said that “by openly providing assistance to Australia,” a non-nuclear weapon state, in its acquisition and building of the nuclear-powered submarine, it will “apparently give rise to proliferation of nuclear materials and technologies.”

Source: IANS

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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

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