By: Aamarpali Puri

Clone as given in The Concise Columbia Encyclopedia, is “a group of organism descended from a single individual through asexual reproduction”. Cloning is a scientific process of creating an exact replica of any living being with same face, same body and same genetic structure. Clone can be created from a single cell and thus, thousands and millions of replica can be created. Clones are organisms that are exact genetic copies. Every single bit of their DNA is identical. Clones can happen naturally—identical twins are just one of many examples. Or they can be made in the lab. There are two ways to make an exact genetic copy of an organism in a lab: artificial embryo twinning and somatic cell nuclear transfer.

1. Artificial Embryo Twinning

Artificial embryo twinning is a relatively low-tech way to make clones. As the name suggests, this technique mimics the natural process that creates identical twins. In nature, twins form very early in development when the embryo splits in two. Artificial embryo twinning uses the same approach, but it is carried out in a Petri dish instead of inside the mother. A very early embryo is separated into individual cells, which are allowed to divide and develop for a short time in the Petri dish. The embryos are then placed into a surrogate mother, where they finish developing. Again, since all the embryos came from the same fertilized egg, they are genetically identical.

2. Somatic Cell Nuclear Transfer

Somatic cell nuclear transfer (SCNT), also called nuclear transfer, uses a different approach than artificial embryo twinning, but it produces the same result: an exact genetic copy, or clone, of an individual. This was the method used to create Dolly the Sheep. In plants, reproduction by this kind of cloning is commonly termed as vegetative reproduction.

Cloning is less common in animals. Natural cloning is discovered in fishes, amphibians and reptiles. The meaning of clone is “twig”.Artificial cloning is done in grapes. Cloning from single cells in laboratory began with carrots in 1950s. Cloning of frogs is also done in laboratories. In the 1970s frogs and other amphibians had been cloned in the laboratory but no mammals had ever been cloned. The first adult mammal to be successfully cloned was not a laboratory mouse, it was a sheep named Dolly (1997). It was produced from udder of a sheep, which is a part of skin. Human cloning is prohibited. Cloning is a dangerous technique since it gives ultimate freedom to biologists to create any living being according to their choice and will, thus imposing great danger to society.

There are many citations which reveal that cloning was known to sages. In the Hindu epic Ramayana, Lord Agni seeing the future that Sita would be kidnapped by Ravana, played a trick by creating a live replica of Sita (Maya Sita or Phantom Sita) through meditation. In the great Rama-Ravana battle, Ravana was killed and Sri Rama took back Sita to his kingdom. Then respecting public opinion and wishing to establish in public the purity of his queen King Sri Rama put her into the fire. At that moment Agni took back the replica and gave back the real Sita to Sri Rama. Later, on the advice of Rama and Agni, the Phantom Sita went to the sacred place Puskara and started doing tapas (penance) there. This ‘clone or Maya’ Sita became known as Svargalakshmi and in Mahabharata era she became Panchali or Draupadi, who was born out of fire.

Kusha son of Sita is reported to be clone of Lava. He was created by Valmiki from some dry grass (kusha in Sanskrit). He with his scientific knowledge was able to create human baby from a grass.

No woman can give birth to 100 children in her lifetime, that too all males and of the same age,” In Mahabharata under the chapter Adiparva that actually describes how the Kauravas were created from a single embryo from Gandhari. According to the description in Mahabharata, the Kauravas were created by splitting the single embryo into 100 parts and growing each part in a separate kund or container. Ancient Indians not only knew about test-tube babies /cloning and embryo splitting but also had the technology to grow human fetuses outside the body of a woman-something that is not known to modern science. Such stories on cloning are written in the Ramayana and the Mahabharata but no concrete evidence of it has been found anywhere.

*Note: It has been reported that both Russia and The United States Government have had secret human cloning programs going since before the 1950’s. Both Vladimir Putin and Barack Obama are products of secret human cloning programs. [5]

Putin is a clone of Julius Caesar and Obama is a clone of a pharaoh from Ancient Egypt. Not only that, but Obama was created in a lab and has 3 parent DNA and George HW Bush is his father.

 References:

1. https://en.wikipedia.org/wiki/Kusha_(Ramayana)
2. https://www.facebook.com/scientific.vedas/posts/322617491258637
3. http://www.ibiblio.org/gautam/hind0006.htm
4. http://www.mallstuffs.com/Blogs/BlogDetails.aspx?BlogId=343&BlogType=Spiritual&Topic=Science%20in%20Hinduism-Cloning%20humans.
5. https://en.wikipedia.org/wiki/Cloning.
6. http://www.hitxp.com/articles/veda/science-genetics-vedic-hindu-gotra-y-chromosome-male-lineage-extinction/.

By: Ahmed Adamu^[1] &  Abdullahi Abdurrahman^[2]

^[1]Lecturer (PhD); Department of Economics, Umaru Musa Yar’adua University, Katsina, Katsina state, Nigeria.  ahmadadamu@yahoo.com

^[2]Supporting staff; Department of Economics, Umaru Musa Yar’adua University, Katsina, Katsina state, Nigeria. abdulabdul04@yahoo.com 

ABSTRACT

It is certain that socio-economic development of any nation hinges upon its human and material endowment. This to some extent reveals the role of population in accelerating the pace of development economically and other wise. Unfortunately, this is not the case in Nigeria as Population is more or less a curse than a blessing. This paper critically assessed the effects of higher population on socio-economic development of Nigeria. The study utilised secondary data elicited from National Bureau of statistics (NBS) and other relevant agencies. The analysis of the data was based on the descriptive method of statistics where tables and simple percentages were used. The study established that, higher population has a serious negative effect on the development of the country in general. For, rapid population growth in Nigeria exacerbates poverty, income inequality, unemployment, insecurity of lives and properties, and political conundrum among others. It is on this note that the study recommended and calls for strong government intervention, tied with community participation especially on initiation of poverty reduction / alleviation programme (where there is none), empowering the youths as they remain the apparatus with which development is doable, shunning away from corruption and ‘alfarma’ (favouritism) syndrome, incentivising the citizens to dwell on self help businesses, and above all controlling the ever rising population among others.

 1.1 BACKGROUND OF THE STUDY

Over the years, it has become established that the existence of an efficient and effective human capital is the key to economic growth and development in any nation. This stems from the fact that every other facility and resource required for economic development is driven by the availability of human capital. More so, in the absence of effective human capital development, an increasing population can have adverse negative effect on the economic growth of a nation. This is because a lot more resources are taken out to manage and cater for the teeming population that the same can generate. It is therefore correct to state that the economic growth of a nation is significantly dependent on the growth of its population. This effect or impact can be either negative or positive depending on the existence of certain factors and conditions, when studied and understood can be managed or controlled to ensure continuous and sustainable economic growth and development (Kelley, 2001).

Nigeria is one of the fastest growing countries in the world. With an estimated population of 168 million and an annual population growth rate of 2.9% (NBS 2010 est.), being the most populous nation in Sub Saharan Africa, it is also the eighth most populous country in the world (UN Report, 2011).

1.2     PROBLEM STATEMENT

It was established in the literature that unemployment, poverty, poor health, low standard of living, coupled with insecurity of life and property, to mention but a few, is acknowledged to be a serious obstacle bedevilling  the development of any socio-economic set up. Nigeria is no exception. Unfortunately however, those indices are what characterised today’s Nigeria, courtesy of higher population and yet unproductive ones. It is a popular fact that Nigeria has been suffering from those bedevilled predicaments attributable exclusively to its ever rising population. This consequently affects the country’s development indicators and left no legacy other than extreme poverty, income inequality, unemployment, poor health, insecurity, and economic backwardness among others. Nigeria is known to have been blessed with the potentials of development and is acknowledged to have harnessed those potentials to its best exertion. But, planning and controlling the rising population for adequate sustainability becomes yet a challenging episode in the history of the nation. This research will therefore explore the possible ways to attacking the increasing level of poverty and other economic predicaments as caused by increasing population. Some of the questions that this research will answer include: does Nigeria have adequate statistical data that will help in conquering the menace? Do the people know the implication of higher population to National economy and its security? Is Nigeria ready to accept the challenge? What measures should Nigeria take to address the unnecessary increasing population? What is the correlation between population and poverty in Nigeria?

1.3     THEORETICAL VIEWS ON POPULATION GROWTH AND ITS EFFECTS

There are two major contrasting views about the relationship between population growth and poverty:

• Some believe that high fertility causes poverty and that lower fertility is the key to reducing poverty. At the end of the 18th century, Thomas Malthus and his followers argued that high fertility and poverty went hand in hand. Malthus himself, focusing on the impoverishing effects of scarce land and rising food prices, urged couples not to marry and have children unless they could afford to support them.(Malthus T.R. 1976). One and one-half centuries later, when population growth rates in developing countries were accelerating as a result of high fertility and declining mortality, Malthus’s successors (dubbed “neo-Malthusians”) took another tack. They argued that because high birthrates create large numbers of children relative to the number of working adults, savings that might otherwise be invested in the country’s infrastructure and development instead must be diverted to meeting the immediate food, health care, housing and education needs of growing numbers of children and adolescents. This prevents countries and families from making the longer-term investments needed to help lift them out of poverty. Using this argument, neo-Malthusians played a key role during the 1960s and 1970s in efforts to mobilize the world’s wealthy developed countries to provide financial aid to support government-administered family planning programs in developing countries. Through such international assistance policies, governments and nongovernmental organizations in developing countries with rapid rates of population growth received support that enabled them to develop or expand access to family planning services (Kelley A.C. 2001).
• Others, however, believe that economic policies determine poverty reduction and that contraception is a “private good.” Not everyone agreed that expanded family planning programs would be effective in reducing poverty. Economists were quick to point out that even if high fertility and high proportions of the population living in poverty were correlated, this correlation would not imply causality. In fact, the relationship could run in the opposite direction: Poverty could be the cause of high fertility. Poor people often want more children because children represent wealth, provide household labour and are the only form of social security available to parents in their old age. (Simon J. 1981)

 1.4     POPULATION AND UNEMPLOYMENT PHENOMENON IN NIGERIA

It is certain that in Nigeria today growing number of population has equally posed greater challenge to the nation at large. Famous is the episode of unemployment attributable to the lack of opportunities and diversified economy. The consequences of unemployment in Nigeria, like most other developing countries is very severe and threatening to the citizenry and the economy as a whole. The unemployment episode has continued to pose so many challenges to the survival of the Nigerian nation. While some of these consequences bother directly on the unemployed, others like epidemics are limitless in effects.

Firstly, Unemployment in Nigeria has a very serious negative effect on the personal well-being of the unemployed. Until recently when a very small number of the affected people benefited from the poverty reduction program of the government, the effect was quite severe on those involved. In cross sectional regressions, there is clear evidence that unemployment is associated with lower levels of psychological well-being (Machin and Manning, 1998). Unemployment dehumanizes the unemployed and causes partial or total loss of esteem among peers. The unemployed feels inferior before this peer group and sees life as totally demeaning. This is the situation of many Nigerian job seekers.

Secondly, one of the core causes of poverty in Nigeria today is the inability of many job seekers to secure gainful employment owing to too much population and undiversified economy. This has further worsened the income inequality crisis that characterizes most third world economies. Largely, the increasing level of unemployment can explain the increasing level of poverty in Nigeria for which available information currently puts at 70 percent (Clerk, 1996). This ugly trend of unemployment rate in the face of rising cost of living, has conditioned many people to a very low and undignified standard of living in Nigeria and the Sub Saharan African region as a whole. (Clerk, 1996)

Thirdly, Unemployment accounts for most of the social crimes perpetrated by youths in the Nigerian society today. The accelerating level of prostitution, armed robbery, rape and all facets of violence can be largely attributed to the incidence of unemployment. An examination of most of the apprehended criminals shows that a large number of youths that engage in criminal activities are those without gainful employment. Some of these criminals are people who have the potentials for gainful employment but have been denied such opportunity. Unemployment then can be seen as one of the core causes of the rising level of social disorder and insecurity permeating the entire country of Nigeria.

1.5     HIGHER POPULATION PRESSURE ON DEVELOPMENT INDICATORS IN NIGERIA.

1.6     HEALTH ECONOMY

The country is remarkably diverse in social and economic development, but a poor healthcare system evidenced by high levels of morbidity and mortality continues to constrain the sustenance of a healthy population.  It is popular fact that the growing number of country’s population greatly hinders the accessibility of many to health care services especially when reference is made to the proportion of health manpower to population: precisely ratio of doctor to population, nurse to patients as well as the ratio of midwives to patients (women in labour). The coverage of the national health system is limited while health education and enlightenment are weak due to high levels of illiteracy. In addition, childhood and maternal mortality are relatively high and average life expectancy at birth is very low.

An assessment of the health of the Nigerian population indicates that the state of healthcare in Nigeria remains poor although considerable efforts have been made to improve this over the years. Nigeria still lags behind many African countries on major health indicators.  The average life expectancy declined rapidly over the years. In 2006 the life expectancy was 57.9 years for men and 56.4 years for women while in 2007 it dropped to 47.2 for men and 48.2 for women. This represents a percentage fall of 18.48 % for men and 14.54 % for women (NBS, 2010). Therefore, it is imperative for the country to control its rapid population growth so that adequate and sufficient health care service or health for all can be accomplished.

1.7     EDUCATION

Education is an important factor in economic growth and development. But the nation’s educational system has been facing many challenges, which prevent the country from achieving its economic objectives. The major challenge facing this sector is the increased demand for education among the people, attributable mainly to the growing number of population as well as inadequate funding and planning coupled with poor management, inadequate infrastructure, and inadequate commitment on the part of students and teachers, among others. All these have combined to hinder the production of a high quality work force to propel the economy (UN, 2010). The state of a nation’s educational sector, among other things, determines the economic health of the nation. Nigeria thus must embark on population control program so that the pressure posed to the education would be addressed as adequately as possible. Because presently the ratio of students to a teacher in public secondary schools, as well as the increasing deterioration of student’s performances in SSCE alone to reveal the fact that education sector is in state of serious quandary.

 1.8     ANALYSIS AND INTERPRETATION OF DATA

TABLE 1: RELATIVE POVERTY HEADCOUNT FROM 1980-2010.

Source: National Bureau of Statistics, 2010.

Table 1, above present the relative poverty headcount in Nigeria from 1980-2010 in which case, the incidence of poverty, estimated population and the population in poverty shows a positive correlation. The incidence of poverty in 1980 stood at 27.2% and the number of population in poverty were 17.1 million. As the number of population increase, so does the incidence of poverty along side with the population in poverty. For example, increase in the country’s population from 75 million in 1985 to 91.5 million in 1992 increases the number of population in poverty to 34.7 million and 39.2 million between 1985 and 1992 respectively. In 2010 the incidence of poverty had increased to 69.0% as against 54.4% in 2004 when the country’s population reached 163 million as against 126.3 in 2004.

TABLE 2: ZONAL INCIDENCE OF POVERTY BY DIFFERENT POVERTY MEASURES

Source: National Bureau of Statistics, 2010.

Zonal incidence of poverty by different poverty measures as at 2010 puts the North West region in Nigeria the worst in terms of poverty. The region recorded the highest percentage of 51.8% in food poverty, 70.0% in absolute poverty, 77.7% in relative poverty, and 70.4% dollar per day.  South western region has the lowest percentage of food poverty (25.4%), absolute poverty (49.8), relative poverty (59.1), dollar per day (50.1) compared to other zones in the country. Generally, northern part of the country has the highest incidence of poverty than the southern part as can be seen from the table above, which is partly attributable to its ever rising populace compared to the other region.

Table 3: Poverty Numbers with 2011 Estimates

Source: (NBS, 2011).

Generally, analysis by the NBS puts the country’s population to 168 million, relative poverty of 71.5, absolute poverty of 61.9, and dollar per day stood at 62.8 as against the 2004 and 2010 estimates courtesy of the country’s rapid population growth with no future plan for the oncoming populace. Income per head must definitely be affected which will deepen poverty level.

Table 4: Population of Nigeria 1952-2011 (Millions)

Source: Nigeria Hand Book, 14^th Edition.

Table 4 above shows that the population of the country is always appreciating beyond reasonable doubt and without adequate knowledge of its resulting consequence(s) to the standard of living of the citizens and more importantly the economy. For example, between 1952 to 1991 Nigeria’s populations increased from 30.3 million to 88.9 million (an increase of almost 60 million people within a span of just 4 decades). Unfortunately however, the population hits 140.0 million in 2006 and 163 million in 2010. The NBS statistics of 2011 puts the population figure to 168 which is a serious matter of urgency especially when reference is made to the UN report of 2010 that puts 3.3 births for every death in Africa.  (UN Report, 2010). Surely, the population will continue to increase so long as no attention is accorded to the matter, and will more to the point, continue to ginger socio-economic chaos in the nation at large.

Table 5: National Unemployment Rates in Nigeria (2005-2011)

Source:  National Bureau of Statistics, 2011

Table 5 above shows the level of unemployment in Nigeria. It was 11.9 in 2005, 12.3 in 2006 and 12.7 in 2007. From 2008 to 2011, unemployment rate hits 23.9 as against 14.9 in 2008. In terms of rural-urban divide, available data shows that unemployment is more pronounced in rural areas than urban areas. This is partly attributable to the fact that agriculture which was the main stay of the people is not accorded much priority in today’s Nigeria. Also, opportunities for certain economic activities do not exist in rural satellite than urban areas. That is why rural-urban migration stirred by the demand for social and economic security becomes the order of the day Nigeria.

1.9     THE WAY FORWARD

Achieving a sustainable growth and development in the midst of equilibrium between population and resources is but, a prelude to conquering poverty, unemployment, social chaos, as well as uplifting the standard of living of citizens through equitable distribution of resources and equal access to qualitative education, health care services, and other basic life sustaining amenities. Notwithstanding, the following points will seemingly marked a point of departure to the ailing challenges facing our beloved nation, and brings a new dawn characterized with happiness and contentment among the stakeholders:

1. Birth Control: There is a need to have family planning programmes which will help to educate the people on the consequences of too much population. This is because many countries (China and India in precise) that have suffered the dilemma of population applied this criteria and fruitful outcome was recorded. Nigeria must embark on the same. Sex outside the institution of marriage has led to the very sharp increase in the country’s birth rate. It is a popular fact that in many part of Nigeria today, pre-marital and extra marital sex are often practice leading to the production of illegitimate children with no one to take their education and moral burden. Thus producing anti-social agents capable of propelling social chaos and other nuisance activities. The study therefore calls for urgent government intervention to address this menace as it is of two fold nature, first social repercussion and second economic implication. For it is an addition to the population.
2. Revival of Agriculture: Urgent revitalization or resurgence of the agric sector will positively dilute the menace of poverty and unemployment in Nigeria. Since this sector is known to have employed more than 70% of the country’s population, providing them with income and food, it is imperative to recast that renaissance of this corner stone sector will satisfactorily tackle the problems fashioned by higher population in the country at large.
3. Provision of educational facilities for all and women empowerment: Certainly, if more and better educational facilities are provided, many people will be encouraged to continue their education beyond the normal secondary school leaving age. They may therefore, tend to postpone marriage until they complete their education. The education of women particularly helps to create more opportunities for their employment. If job opportunities are provided for women, they will help to contribute more positively towards production. The gainful employment of women and the difficulty in securing the house maids will help to reduce the number children being born. All these help to reduce high population growth.
4. Migration policy/control: It is certain that many people are trooping in to this nation without any restriction. The pressure posed by the country’s population is partly attributed to the growing number of immigrants who wish to earn a living devoid of any means and legislation. People from Ghana, Niger republic, Togo, Benin republic, Cameroon, and other Asian countries notably China turn the country in to a “No Man’s Land”. Government can therefore adopt migration policy in this respect in order to curb the population growth via a more stringent immigration laws. Emigration of less skill manpower can also be encouraged by a less restrictive policy towards it. This can help to effectively regulate the population growth for the benefit of the country’s teaming masses.
5. Tax Incentives/Government Policy: Government can also adopt policies which favours the maintenance of small families. For example, there could be tax relief measures which help the small family unit at the expense of those that are larger. A man with a large family could be made to pay higher tax. Adequate pensions and old age packages or allowances should equally be provided. This will remove the necessity to produce many children who will cater for the parents when they are old. This is because they would be adequately taken care of by the government during their old age.
6. Finally, the concept of good governance characterised with accountability, transparency, dedication, as well as the spirit of national patriotism and selflessness need to be in the realm, for controlling the epidemics of higher population in the midst of bad governance is but an ‘unending dialogue’.

In conclusion, rapid population growth is a critical national concern. It impedes economic growth, worsens inequality, and exacerbates poverty. A sound population policy must be part of good governance to promote faster economic growth, lower inequality, and hasten poverty reduction. A national population policy, at the core of which are well-funded family planning programs that provide accurate information and access to all methods of contraception, is pro-poor, pro-women, pro-people, and pro-life. The responsibility for formulating, financing and implementing a population policy cannot be left entirely to local or state governments because of spill over effects and incentive incompatibilities. The national government must take the lead. Nelson Mandela says “poverty is not an accident. Like slavery and apartheid, it is man-made and can be removed by the actions of humans.

REFERENCES

Clerk J. (1996); Population and Poverty in sub Saharan Africa: the Nigeria experience. Mc Grew Hill.

CBN (2010); Central Bank of Nigeria Annual Report and Statement of Accounts,  Abuja.

Maching A. and Manning (1998); The relationship Between Population and Unemployment. New York City.

Malthus T.R. (1976); An Essay on the Principle of Population, New York: W. W. Norton 1976. Pp. 132.

NBS (2010); Review of Nigerian Economy: Central Business District Abuja. FCT Abuja.

NBS (2011); Annual Socio-economic Report. Access to ICT CBD Abuja FCT.

Nigeria Hand Book. 14^th Edition accessed via www.indexmundi.com on 15/05/12.

Kelley AC (2001); Population Matters: Demographic Change, Economic Growth, and Poverty in the Developing World, New York: Oxford University Press, 2001.

Simon JL (1981); Population: The Ultimate Resource, Princeton, NJ, USA: Princeton University Press, 1981.

UN Report (2010); World Population Prospects: Estimates and Projections as Assessed in 1984 (New York).

United Nations (2011); Deepening Democracy in a Fragmented World, New York, Human Development Report.

United Nations Report (2010); World Population Prospects Database. New York: United Nations.

By: Anamitra Roy

B.Com. (Hons.) [University of Calcutta], Certified Financial Accountant (CMC), DFA (CMC), PGDBF (HSIS India), Certified Financial Accountant (GLOBSYN Skills), GPBL (TASMAC & University of Wales).

 Basic Concept:

Classical economists like Robert Malthus and David Ricardo gave shape to the Law of Diminishing Returns. The concept is a very simple one. Say, a consumer has consumed a bottle of a soft drink. The satisfaction generated from the consumption of it comes to 10 units. This satisfaction level is expected to go down with the consumption of every additional unit of the soft drink and at one point of time the satisfaction level will reach the zero mark. This is basically the concept of the law of diminishing returns. Here, the expression “satisfaction derived” is treated synonymously as “utility value”. Below is drawn a chart showing the decline in the satisfaction level with the consumption of one additional unit of the commodity.

Chart 1:

 Non- technically speaking it can be put this way that due to fatigue, monotony of use of the same commodity for a long time, arrival of superior quality products in the market etc, after a certain time the satisfaction derived from the use of the same will be nil. This is a simple natural law which all of us have experienced at some point of time in our lives.

The Problem:

In reality it was seen that due to the influence of the law of diminishing returns, after a point of time the sales figures of products come down. That impacts profit accumulation, the fund flow, the working capital, the meeting of daily expenditures and staff motivation. So there is a need to tackle the adverse effects of the law of diminishing returns. This can be done by not lowering or keeping constant the satisfaction derived from consumption of an additional unit of the commodity. The same can also be ensured by slackening the rate of lowering of the satisfaction derived from the consumption of an additional unit. Graphically it can be represented as follows:

Chart 2: (case of not lowering or keeping constant the satisfaction derived from consumption of an additional unit of the commodity)

Chart 3: (case of slackening the rate of lowering of the satisfaction derived from the consumption of an additional unit)  

Solutions:

In reality this is done by using the various specialized branches of business management by the following ways:

> Role of HRM in fight against the Law of Diminishing Returns:

 Staff motivation is a key to the fight against Law of Diminishing Returns. It is with the help of a motivated work force that improvements can be ensured in the operations process, product designing, planning and implementation of the business plans. A HR manager has to ensure the motivation of the staffs of the enterprise by the following ways:

• Making the staffs feel that they are an integral and important part of the organization through continuous counseling.
• Recognition of the contributions of the staffs through monitory rewards, promotions in the organizational hierarchy etc.
• Maintaining coordination between the various branches of the management through the designing of multi directional internal communication system.
• 360 degrees performance appraisal.

> Role of Finance Management in fight against the Law of Diminishing Returns:

In order to bring in new advance technology and other factors of production like land, labor, capital etc. funds may be required. It is the finance manager’s responsibility in a modern day enterprise to anticipate

• When and how many funds will be required through a study of the time value of money and maintenance of depreciation.
• From which source to bring in these funds through capital gearing.
• Whether to use “cost cut off” as a tool to generate funds through analysis of cost sheets, process costing, job costing etc.

> Role of Marketing Management in fight against Law of Diminishing Returns:

 A marketing manager may aim to fight against Law of Diminishing Returns by the following ways:

• More vivid highlighting of USPs of the product in the advertisements.
• Usage of CRM so that customers and clients can be served as per their tastes and preferences.
• Usage of publicity matters as reminding agents like hoardings, banners etc.
• Collection of feedback from the market about the areas of the product where improvement has to be brought in.

> Role of Strategic Management in fight against Law of Diminishing Returns:

• Collection of information about improvements being brought in by competitors.
• Collection of information about arrival of substitute goods in the markets, their pricing and marketing strategies.
• Analysis of the consumer behavior to detect if any changes are creeping in the tastes, preferences and buying patterns of customers.

Conclusion:

In conclusion it has to be pointed out that keeping the satisfaction derived from usage of one additional unit of the output constant or not lowered cannot be achieved in the long run. Therefore, all the measures suggested for a fight against Law of Diminishing Returns are targeted at

1. Not lowering or keeping constant the satisfaction derived from consumption of an additional unit of the commodity in the short run.
2. Slackening the rate of lowering of the satisfaction derived from the consumption of an additional unit both in the short and long run.

By: A Roy & S Soren

Poppy (Opium) Botanical name Papaver somniferum, Hindi name Afim , Post. Part of plant used is unripe capsule from which latex based drug morphine is extracted. The dried juice or latex obtained from unripe capsules is used. The incisions are made on the unripe capsules, shortly after the fall of petals. The crude latex contains resins, oils and alkaloids including morphine and codeine. The latex has narcotic and soothing properties and is used as a nervous stimulant to induce sleep and relieve spasms. Large Quantities are injurious or even lethal. Oils from the poppy seeds are medicinally used. The herb is a native of West Asia and is grown in India, China and Asia Minor. In India, the plants are cultivated in U.P, Punjab, Rajsthan, Madhya Pradesh and West Bengal.

Please see the video recorded at Siuri, West Bengal, India.

Poppy seeds cultivation at Siuri, West Bengal, I

By: Dipannita Ganguly

 “The business of business is business”

Friedman

The modern business era has undergone a huge change, aiming at market oriented yet having a responsible behavior towards customer instead of sustainable business success and shareholders’ value solely through maximizing short-term profits. Nowadays business wants to contribute towards sustainable development by operating and managing their resources in such a way that it enhances the economic growth and competitiveness, keeping pace with environmental protection and promoting and enhancing the social responsibility, thus the consumer interests.

Corporate Social Responsibility

Definition & Concept

Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.¹

The concept of Corporate Social Responsibility is an emerging and evolving concept, not having a universally accepted definition. Sometimes this concept is also referred to as ‘Corporate Citizenship’.

CSR may be meant to understood the way by which the business enterprises tries to integrate social, economic and environmental concerns into their working, with emphasis into their values, culture, decision making, strategy and operations in a clear and transparent manner, by which they can establish better practices and thereby increase the wealth of society and march towards its improvement.

Thus, Corporate Social Responsibility can be explained as under-

Corporate –means an organized business.

Social– the concept of dealing with society or people in general

Responsibility– a sense of accountability for the working of the business enterprises towards their customers.

In general, the philosophy is basically to return to the society what the business enterprises has taken from it in the course of its quest for creation of wealth.

 A Contract with Society

“The broadest way of defining social responsibility is to say that the continued existence of companies is based on an implied agreement between business and society. In effect, companies are licenses by society to provide the goods and services which the society needs. The freedom of operation of companies is therefore, dependent on their delivering whatever balance of economic and social benefits society currently expects of them. The problem for companies is that the balance of needs and benefits is continually changing and there is no generally accepted way of measuring those changes.

To start with, companies are expected to meet society’s demand for goods and services, to provide employment, to contribute to the exchequer, and to operate efficiently at a profit. There is no conflict between social responsibility and the obligations on companies to use scarce resources efficiently and to be profitable – an unprofitable business is a drain on society. “The essence of the contract between society and business is that the companies shall not pursue their immediate profit objectives at the expenses of the long-term interest of the community.”– Sir Adrian Cadbury

 Evolution of Corporate Social Responsibility¹

India has the world’s richest tradition of Corporate Social Responsibility (CSR). The term CSR may be relatively new to India, but the concept dates back to Mauryan history, where philosophers like Kautilya emphasized on ethical practices and principles while conducting business. CSR has been informally practiced in ancient times in form of charity to the poor and disadvantaged. Indian scriptures have at several places mentioned the importance of sharing one’s earning with the deprived section of society. We have a deep rooted culture of sharing and caring.

Religion also played a major role in promoting the concept of CSR. Islam had a law called ‘Zakaat’, which rules that a portion of one’s earning must be shared with the poor in form of donations. Merchants belonging to Hindu religion gave alms, got temples and night shelters made for the poorer class. Hindus followed ‘Dharmada’ where the manufacturer or seller charged a specific amount from the purchaser, which was used for charity. The amount was known as charity amount or ‘Dharmada’. In the same fashion, Sikhs followed ‘Daashaant’.

Here, we can understand that the history of CSR in India runs parallel to the historical development of India. CSR has evolved in phases like community engagement, socially responsible production, and socially responsible employee relations. Therefore, the history of Corporate Social responsibility in India can be broadly divided into four phases:

The first phase of CSR was driven by noble deeds of philanthropists and charity. It was influenced by family values, traditions, culture and religion along with industrialization. Till 1850, the wealthy businessmen shared their riches with the society by either setting up temples or religious institutions. In times of famines, they opened their granaries for the poor and hungry. The approach towards CSR changed with the arrival of colonial rule in 1850. In the Pre-independence era, the pioneers or propagators of industrialization also supported the concept of CSR.

In 1900s, the industrialist families like Tatas, Birlas, Modis, Godrej, Bajajs and Singhanias promoted this concept by setting up charitable foundations, educational and healthcare institutions, and trusts for community development. It may also be interesting to note that their efforts for social benefit were also driven by political motives.

The second phase was the period of independence struggle when the industrialists were pressurized to show their dedication towards the benefit of the society. Mahatma Gandhi urged to the powerful industrialists to share their wealth for the benefit of underprivileged section of the society. He gave the concept of trusteeship. This concept of trusteeship helped in the socio-economic growth of India. Gandhi regarded the Indian companies and industries as “Temples of Modern India”. He influenced the industrialists and business houses to build trusts for colleges, research and training institutes. These trusts also worked to enhance social reforms like rural development, women empowerment and education.

In the third phase from 1960-1980, CSR was influenced by the emergence of Public sector undertakings to ensure proper distribution of wealth. The policy of industrial licensing, high taxes and restrictions on the private sector resulted in corporate malpractices. This led to enactment of legislation regarding corporate governance, labor and environmental issues. Still the PSUs were not very successful. Therefore there was a natural shift of expectation from the public to the private sector and their active involvement in the socio-economic growth. In 1965, the academicians, politicians and businessmen set up a national workshop on CSR, where great stress was laid on social accountability and transparency.

In the fourth phase from 1980 onwards, Indian companies integrated CSR into a sustainable business strategy. With globalization and economic liberalization in 1990s, and partial withdrawal of controls and licensing systems there was a boom in the economic growth of the country. This led to the increased momentum in industrial growth, making it possible for the companies to contribute more towards social responsibility. What started as charity is now understood and accepted as responsibility.

 It is mandatory for Central Public Sector Enterprises to allocate 2-3% of the PAT for the inclusive development of a backward district. (CSR and Sustainability guidelines by Department of Public Enterprises 2013). In which one key project has to be in CSR and the other in Sustainability for the development of the disadvantaged and marginalized communities.

Thus the country is at the verge of beginning an interesting stakeholder relationship through Corporate Social Responsibility programs which would give rise to inclusive and equitable growth and benefit for the needy and the underprivileged across the country.

 Factors influencing Corporate Social Responsibility

Attention towards the concept of Corporate Social Responsibility is increasing. It may be referred to a concept whereby the companies integrate social and environmental concerns in their business operations and in their interactions with their stake holders on a voluntary basis. Following are the factors that influence the promotion of CSR:

• Globalization, coupled with focus on cross border mergers, trade, multinational enterprises and global supply chains, the need for CSR is increasing. Human resource management, environmental protection and health and safety are the other factors that influence promotion of CSR.
• Institutions such as United Nations, The organization for Economic Co-operation and Development and ILO has adopted compacts, declarations, guidelines, principle and other instruments which provides the outlines for the promotion of CSR.
• Concerns of consumers and investors are increasing in support of responsible business practices and demands are made by stakeholders for information on how companies are addressing risk and opportunities related to social and environmental issues are met.
• Serious and high profile breaches of corporate ethics have contributed to elevated public mistrust of corporations and highlighted the need for improved corporate governance, transparency, accountability and ethical standards.( eg: Satayam scam)
• There has been demand all over world that corporations should meet the standards of social and environmental care, no matter where they operate.
• Business are recognizing that adopting and effective approach to CSR which can reduce risk of business disruptions, open up new opportunities, and enhance brand and company reputation.

 Advantages of Corporate Social Responsibility

Existence of business in isolation is not possible; business cannot be oblivious to societal development. The Social Responsibility of business needs to be integrated into the business purpose so as to build a positive synergy effect between two.

The advantages of CSR can be pointed out in the following points:

• CSR helps in creating a favorable public image which acts as a magnet for grabbing customers’ attention to the business concerns. Reputation and brand equity of the products of a company which understands and demonstrates its social responsibility is very high.
• Society gains through better neighborhoods and employment opportunities, while the organization benefits from a better community, which is the main source of its workforce and the consumer of its products.
• A good reputation makes it easier to recruit employees.
• Employees may stay longer, reducing the costs and disruption of recruitment and retraining.
• Employees are better motivated and more productive.
• CSR helps to comply with regulatory requirements.
• Activities such as involvement with the local community are ideal opportunities to generate positive press coverage.
• Good relationships with local authorities make business easier.
• Understanding the wider impact of business can helps in developing new products and services.
• CSR can make the business more competitive and reduces the risk of sudden damage to reputation and sales. Investors recognize this and are more willing to finance the business.

 Approaches of CSR- Concept of Triple Bottom Line

The concept of Triple Bottom Line (TBL) is gaining importance and becoming popular among the corporate. The term was coined by one noted management consultant, John Ellington in the year 1997. The concept of TBL is based on the premises that business entities have more to do than just profits for the owners of capital. ‘People’, ‘Planet’ and ‘Profit’ are used to succinctly describe the triple bottom lines.

People– refers to human capital, pertains to fair and beneficial business practices towards labor and community and region in which a corporation conducts business.

Planet– refers to natural capital, pertains to sustainable environmental practices. It is the lasting economic impact the organization has to its economic environment.

A concern following TBL endeavors to benefits the natural order as much as possible or at least do not harm and curtail environmental impact.

Profit is the bottom line shared by all commerce.

Profitability is purely an economic bottom line; a social and environmental bottom line is semi or non-economic in nature so far as revenue generation is concerned but it has certainly a positive impact on log run value that an enterprise commands.

 Statutory backing in support of Corporate Social Responsibility

• Section 135 of Companies Act, 2013

This section provides that every company having specified net worth or turnover or net profit during any financial year shall constitute the Corporate Social Responsibility Committee of the Board. The composition of the committee shall be included in the Board’s Report. Polices shall be formulated by this committee including the activities specified in schedule VII. The section furthers ensures that at least 2% of average net profits of the company made during three immediately preceding financial years shall be spent on such policy every year. If default is made by the company in spending such amount, the Board shall give in its report the reason for such default.

• Application of provision

Companies having net worth of Rs. 500 crores or more or turnover of Rs. 1000 crores or more or net profit of Rs. 5 crores or more during any financial year shall constitute a CSR Committee of Board comprising of 3 or more directors, one of whom shall be an independent director.

• Functions of the CSR Committee

The committee shall formulate and recommend of the Board, a Corporate Social Responsibility Policy which shall indicate the activities to be undertaken by the company as specified in Schedule VII of the Act.

The committee shall also initiate a CSR policy, which shall stipulate how, where and when they went to invest their funds with respect to this requirement.

The committee shall recommend the amount of expenditure to be incurred on the activities referred to above. Further, The CSR Committee is under an obligation to monitor the implementation of the CSR policy from time to time.

• CSR Activities

The Companies Act, 2013 does not prescribe the methodology by which CSR activities are to be undertaken by the company. Companies have been given flexibility to decide the activity within the framework, choose programs, implement in the manner it desires, monitor it and ensures compliance of its   own CSR policy. However, the CSR activities may be undertaken by way of the following methods:

Charity– Company can donate money to various charitable trusts, societies, NGOs etc. who work for social economic welfare of the society.

Contract– Company can hire an NGO or any other like agencies that carries out the projects on behalf of the company.

Company itself– Company can take up a project of its own or create its own trusts and use its own staffs for its proper working and monitoring or through trust and societies.

•  Expenditure on CSR

In order to qualify any contribution as contribution for CSR the nature of contribution should be kept in mind. Any contribution may not result in any direct or indirect commercial benefit to the company. However it must be ensured that CSR expenditure should comply with company’s CSR Board approved CSR policy and the legal provisions. CSR expenditure includes all expenditure including contribution towards corpus for projects or a program relating to CSR activities approved by the Board on the recommendation of the CSR Committee, but does not include the expenditure on an item not in conformity or in line with activities which fall within the purview of Schedule VII of the Companies Act, 2013.

• Penalty in case of default by the Company ( under Companies Act, 2013)

The Companies Act, 2013 requires that,

1. The Board’s report shall disclose the composition of the Corporate Social Responsibility Committee as per subsection (3) of section 134.
2. If the company fails to spend such amount, i.e. at least 2% of the average net profit the Board shall disclose and specify the reasons for not spending the amount in its report as per Clause (o) of sub-section (3) of Section 134.

As per section 134 of the Companies Act, 2013 if the Company fails to disclose such information, it shall be punishable with fine, which shall not be less than Rs.50,000 but which may extend to Rs. 25,00,000 and every officer in default shall be punishable with imprisonment for a term which may extend to 3 years or with fine which shall not be less than Rs. 50,000 but may extend to Rs.5, 00,000 or with both.

 Corporate Social Responsibility Reporting Frameworks

An important aspect of Corporate Social Responsibility (CSR) is the reorganization that sound practices are often based on good standards of Corporate Governance.

The following are some of the main standards for social, ethical and environmental reporting currently in use internationally.

The AA 1000– This frame work was developed by the Institute of Social and Ethical Accountability. It provides a standard for social and ethical accounting, auditing and reporting, including mandatory external verification and stake holder engagement. It aims to assist an organization in the definition of goals and targets, the measurement of progress made against these targets, the auditing and reporting of performance and in the establishment of feedback mechanism. This is mainly achieved through:

• Developing stakeholder engagement strategy
• Facilitation of Stakeholders Dialogues
• Capacity building for stakeholder engagement

 SA 8000– This is an international standard for social accountability by Council on Economic Priority Accreditation Agency. SA 8000 covers the following areas of accountability:

• Child labor
• Forced labor
• Workplace safety and health of workers
• No discrimination based on race, caste, origin, religion, disability, gender, etc.
• Discipline
• Working hours
• Remuneration
• Management system for Human Resources.

 The Good Corporation– It is the global standard of CSR developed by the Institute of Business Ethics. This covers the fairness to employees, suppliers, customers and providers of finance; contribution to the community; and protection of the environment. Company performance is assessed annually by an independent verifier.

 The OECD Guidelines for Multinational Enterprises– These guidelines set out the recommendations for a responsible business enterprise conduct in employment and industrial relations; human rights; the environment; competition; taxation; science and technology; combating bribery and protection of consumer interest.

They are not legally binding and there is no requirement for reporting or external measurement.

 Highlights on Steps taken by certain Corporate towards CSR Policies

• Microsoft– Microsoft releases Corporate Citizenship Report annually and it includes the details of CSR programs and initiatives engaged by the company. Citizenship mission of the company is “to serve globally the needs of communities and fulfil our responsibilities to the public”. Microsoft’s spending on CSR initiatives in 2014 exceeded $1 billion, which includes cash donations of $119 million and in-kind donations worth $948.6 million. Moreover, charitable activities of Bill & Melinda Gates Foundation founded by Microsoft founder Bill Gates is also associated with Microsoft in the perception of the general public to a certain extent.
•  Infosys– The first company that comes to mind as a beacon of good corporate governance is the Indian IT industry bellwether, Infosys. Indeed, Infosys is one of the companies that has set benchmarks for other companies not only in India but all over the world in the way corporate governance and social responsibility are handled and projected to the outside world.

• TATA Group– Another Company that has done an exceptional job of portraying itself as a good corporate citizen is the TATA group in India and The Body Shop (formerly owned by Anita Roddick) company in the United States.

 Conclusion

The term Corporate Social Responsibility refers to the concept of business being accountable for how it manages the impact of its processes on stakeholders and takes responsibility for producing a positive effect on the society. CSR has been defined as the continuing commitment by business to behave fairly and responsibly and contribute to economic development while improving the quality of life of workforce and their families as well as the local community and society at large.

A thin line of differences exists between CSR and Philanthropy. Philanthropy refers to the act of donating money, goods, times or effort to support a charitable cause in regards to a defined objective. It may be done by an individual or by a corporate.

CSR on the other hand is how a company aligns their values to social causes by including and collaborating with their investors, suppliers, employees, regulators and the society as a whole.

Thus in the conclusion it can be stated that in order to have sustainable development the corporate should put their hands together and march towards Corporate Social Responsibility.

Bibliography

Books Referred

1. Governance, Business Ethics and Sustainability- Study material by The Institute of Company Secretaries of India.
2. Company Law, Decoding the Code- Dr. Prem Kumar Agarwal and CA R.K. Singh.
3. Company Law- Dr. Avtar Singh.

 Web Sources

1. http://www.soulace.in/blog/evolution-of-corporatesocialresponsibility-in-India
2. http://www.mca.gov.in/searchableActs/section135
3. http://www.accountablity.org.uk
4. http://www.cepaa.org
5. http://www.goodcorporational.com
6. http://www.oecd.ogr/daf/investment/guidelines

About the Author:

The author, Miss Dipannita Ganguly is a qualified company secretary and a budding lawyer from Kolkata, India.

By: Anamitra Roy

B.Com. Hons. (C.U., India), Certified Financial Accountant (CMC, India), DFA (CMC, India), PGDBF (HSIS India, India), Certified Financial Accountant (GLOBSYN Skills, India), GPBL (TASMAC, India & University of Wales, United Kingdom).

Abstract:

This study aims to investigate the reasons behind how some people are able to maintain continuity of their activities and enjoy long careers in which ever fields they are. In the process 120 respondents were interviewed, lives of people enjoying a successful and long career over a span of twenty years or more were observed and analyzed. This process of observation, data collection, data analysis and assimilation of the analysis results with observations were done covering duration of three years. Then the conclusion was reached that an increased passion level, practicing of perseverance, maintaining physical fitness, interest and relevance, bringing innovations, going back to basics in times of trouble, exercising few disciplines every day and developing a spirit for not quitting helps to maintain continuity and carry on.

Key Words: Continuity Management, Innovation, Relevance, Adaptation, Evolution.

 Introduction:

 “Time with its continuity logically involves some other kind of continuity than its own. Time, as the universal form of change, cannot exist unless there is something to undergo change and to undergo a change continuous in time, there must be a continuity of changeable qualities.”

– Charles Sanders Peirce

Maintaining continuity is one of the most difficult tasks that one has to take up in life. It is through maintenance of continuity that one can reach and stay at the zenith and get promoted to the stature of a legend. If an effort is made to study the lives of legends it can always be seen that they maintained a few disciplines every day and thus reached their goals and hold on to their position.

Sachin Tendulkar, Amitabh Bachchan, Lata Mangeshkar, Ratan Tata, Diego Maradona, Pele, Rajnikanth, Thomas Edison, Mahatma Gandhi, Jawaharlal Nehru, Maqbool Fida Hussain, Pablo Picasso, Michelangelo, Tagore … all these great men had one feature in common. They kept on and on. They had a long career in whichever field of life they were and it was possible because they achieved success and could hold on to success through continuity management.

One cannot just achieve success and allow it to go away. Then the continuity is not being maintained. There are great examples of talented people who achieved success and huge volumes of it. They could not hold on to it. Why is it that these people could not practice few disciplines every day and hold on to success? Why is it that they did not have a long career and had to give up? An attempt has been made to find an answer to these questions through observations of people spanning over a period of almost three years, to understand the ways of maintaining continuity in life.

 Literature Review:  

1. An article named “Embedding Business Continuity and Disaster Recovery within Risk Management” written by Xinxin Zhang and Adela McMurray was published in World Journal of Social Sciences, Volume 3, Number 3, on May, 2013. The writers wrote about the importance of risk management in maintaining business continuity.
2. Another research paper named “The Evolution of Business Continuity Management in Large Irish Enterprises between 2004 and 2009” was submitted by David N. Garrett at the Dublin City University Business School on May, 2012. This research showed that business continuity management is firmly placed in the hands of senior and middle management with a low level of board level involvement. Computer viruses and loss of communication were found to be the most important threats in the maintenance of business continuity.
3. A research paper named “Business Crisis and Continuity Management” was submitted by Gregory L. Shaw in the Institute for Crisis, Disaster and Risk Management at The George Washington University, U.S.A. in 2004. In this research the researcher came to the conclusion that continuity management must be used as a strategic program with supportive functions and sub functions that must be integrated for the sake of overall effectiveness and efficiency.

Methodology:

Research Questions: As indicated in the introduction part, there are two major research questions in this study. These are as follows:

Why is it that some people have long careers in whichever field they are?

How to maintain continuity in what we are doing?

Modeling Volatility: 

The research methodology followed in this paper is spanned over a period of three years. Through observations, interviewing respondents through a questionnaire and study of the lives of people with long careers in whichever field they are, the data has been collected. On further analysis of that data conclusions and recommendations to be made have been reached.

Data:

The data for the purpose of research has been collected from different sources

1. Through observation of the lives of people with careers spanning of twenty years or more in accounting, administration, marketing and general management.
2. Through interviewing of 120 respondents by the help of a questionnaire designed for this purpose. These respondents covered respondents who are already enjoying a career spanning twenty years or more and those who are aspiring to have a long career.
3. Studying the autobiographies and biographies of well-known personalities whose career spanned for twenty years or more. However, effort was also given to study the biographies of personalities who could have had a long career but ultimately did not have.
4. Studying the operations procedure of organizations that have been able to maintain continuity and survive for more than fifty years. Examples of such organizations include: Apple, Philips, The George Telegraph Training Institute.

Results and Discussions:   

The most striking part of the data analysis and interpretation part was that there was a similarity in the survey results of 120 respondents and observation results of the lives of people who had long and successful careers spanning twenty or more years. More interestingly, these series of data interpretation results had to be assimilated together to reach the conclusions and recommendations.

Conclusions and Recommendations:

An Increased Passion Level:

In order to go on and on, one needs to maintain/ increase the passion level. When there is a drop, it is advisable to start thinking about the end result. Gradually put colors in the frame, add details, input sounds. When the frame is ready it has to be told to the inner self that this is the reason why everything is being done. On doing these the person concerned is bound to feel a childlike enthusiasm within him to carry on and thus maintain continuity.

“Passion is the genesis of genius.”

                             – Galileo Galilei

Perseverance:

When hiccups are there, which surely will be there, comparing myself with others has to be stopped. There is no space to think how much others have progressed and why I am lagging behind. It is recommended to always do what the concerned enjoys the most. In an interview Prabhudeva said that he preferred to dance when he was happy, as well as when he was sad. Think if this man was told to become a writer would anyone ever know his name. Would he be able to write when he was sad?

 One will automatically persevere for something that he loves to do. No obstacle will ever make him dance according to its tune. He will continue to carry on.  So in order to persevere one has to be in the field that he loves the most. He does not have to make an effort to persevere. He will be doing it voluntarily and unknowingly if he is in the field that he likes the most.

“Perseverance is stubbornness with a purpose.”    

                                                                –  Josh Shipp

Physical Fitness:

Continuity demands tremendous physical fitness. A lot of sports personalities are forced to take up premature retirement because of lack of it. The great politician from Bengal and the ex-President of the IFA, Priyaranjan Das Munshi had to retire on grounds of physical fitness. Jyoti Basu, one of the longest serving chief ministers had to retire because of the same reason.

 It is that important. Regular exercising and low intake of fast food can ensure this. When you have a physically fit body, as said by Robin Sharma, you will require less sleep. Thus, you will have more time to invest in your goals.

 “Physical fitness is not only one of the most important keys to a healthy body; it is the basis of dynamic and creative intellectual activity.”  

                                                                      – John F. Kennedy

 Interest Level:

Say there is a 1,000 page book which has to be read in a month. That means approximately the reader has to read about 33 pages per day in order to reach the target. If this job is approached this way, it will be easier to maintain the continuity and reach the destination. Moreover, when the reader will reach his daily targets he will feel happier and secured. He will feel that he is on right track and achieving the target seems a realistic possibility. Thus, breaking the target into fragments can help you to maintain your interest level.

 “The true secret of happiness lies in taking a genuine interest in all the details of daily life.”

                                                   – William Morris

 Innovations:

When the daily targets are being reached, the mind is happier and relaxed. Automatically more interest will be generated in what it is doing. The mind will have more time and will start to think about developments and modifications. Therefore, time management is the key to bringing innovations. If one has time, he will be able to think and thinking will get him closer to innovations. Take the example of organizations like Apple and Philips which have prospered through innovations. The HR departments in these organizations take special care to design the job in a manner so that employees have free time to think about innovations.

 “Innovation distinguishes between a leader and a follower.”

                                    – Steve Jobs

 Relevance:

In order to maintain continuity, it is very important to maintain the relevance along with the demands of the changing times. Here, let me cite the example of one of modern India’s best, largest and professionally managed institutions, The George Telegraph Training Institute. In order to maintain the relevance of the topics being taught this institute has formed a “Board of Studies” comprising of members of various corporate houses. They advise the institute about the current demands of the market. The syllabus of the courses taught is framed accordingly, thereby maintaining relevance. In the absence of maintaining the relevance there would be only one option … the option of getting extinct.

 “Create relevance, not awareness.”  

                                                                                     –  Steve Jobs

 Adaptation and Evolution:

In one of his writings Tagore once wrote about the process that he used to follow while framing the plot. He always used to start with a sketch of the writing in his mind. But during penning down the writing quite often he used to drift away from his plan and adapt according to the demands of the moment. When we study history, we basically study these stories of man’s adaptation to the surroundings. These adaptive measures combine to form the chapters of evolution, which in turn ensured the continuity of life. This rule applies to our daily activities, too. In order to maintain continuity we have to adapt and evolve into a new lease of life and creativity.

“It is not the strongest of the species that survive, nor the most intelligent that survives. It is the one that is most adaptable to change.”  

                                                                              – Charles Darwin

 Going Back to Basics:

The famous Australian sportsman, Greg Chappell in the middle of his career was suddenly out of form. His life was in turmoil. He consulted all the leading coaches. Nobody had a solution. Greg approached a sports psychologist. The psychologist suggested him to watch the ball. Then hit it with the bat. Greg was furious. He told the psychologist that this is the fundamental teaching that is given to newcomers but I am a superstar. The psychologist calmly insisted Greg to follow his point. Greg attended a practice session where he followed what the psychologist said. It was like magic. Greg was back in form. He was hitting the ball with the middle of the bat. After retiring, in one of his columns in a sport blog, Greg Chappell wrote about this incident. This incident speaks of the importance of going back to basics when we are in difficulty. Basics are like foundations. At times due to pressure, greed and stress one forgets the basics. Then he loses his touch. He can regain everything and maintain the continuity by going back to the basics.

“You cannot do epic without doing the basics.”

                                                                         –Ussain Bolt

Performing Few Disciplines Every Day:

It was way back in 2007. I was having a serious tooth ache. I visited a leading dental surgeon in Kolkata, Dr. Supratim Chanda. Dr. Chanda extracted the tooth that was causing the problem. Then he advised me to gurgle with a glass of warm water from the next day for the coming three days. The next day, I got three glasses of warm water and gurgled with them. I was happy that my task for the next three days was over. After three days I met Dr. Chanda in his chamber again. I was having some discomfort in my mouth. The doctor examined me and asked me if I had gurgled with warm water. I told him the truth. The doctor explained to me the importance of practicing a few disciplines every day. I realized how important it is to be consistent.

We are never rewarded for our odd venture one day. We are rewarded for maintaining consistency and practicing a few disciplines every day. A student has to study every day. A businessman has to satisfy his customers/ clients every day. A researcher has to research every day. A policeman has to maintain law every day. Every day, day after day, we need to do what we are supposed to do and what will make our dreams come true.

  “Small disciplines repeated with consistency every day lead to great achievements over time.”

 – John C. Maxwell

Remember Why You Started:   

In the middle of his career, the great Pakistani sportsman, Wasim Akram was frustrated. There were a lot of reasons behind this, some personal and some sports related. In one of his interviews to the well-known Indian movie star, Simi Garewal, Wasim Akram was speaking about these. He said that at one point of time he even considered saying good bye to sports. It was in such a phase that his the then wife and renowned psychologist, Huma took a step forward. She told Wasim that he is free enough to retire. But she also asked has the reasons which instigated a love for sports in him, been achieved. Wasim Akram realized probably not. He could immediately feel a change in him. His performance improved by leaps and bounds. He was soon given back the cap of the captain of the Pakistani cricket team.

This is one of the most common ways of regaining the will to carry on. If the purpose for which the start was made has not been satisfied then it is not the right time to say adieu. Then it’s time to continue.

 “Never say good bye because saying good bye means going away and going away means forgetting.”                   

                                                                                                                             – Peter Pan

Scope of Future Research:

This research was done covering a span of three years. But in an effort to study continuity and ways of maintaining it, time spans of greater duration like ten/ twenty years can be considered in a future research work. This will enable to study the factors triggering continuity in details. Moreover, this research covered a study of continuity in different types of fields. But as these fields are different from each other so a bigger study on various fields separately can be conducted.

Bibliography and References:

Books:

• Hotchkiss, Stuart (2011). Business Continuity Management, 1^st Edition, United States, Heritage Publishers.
• Hiles, Andrew & Barnes, Peter (2001). The Definitive Handbook of Business Continuity Management, 3^rd Edition, New York, John Wiley & Sons Ltd.
• Gupta, S.P. (2011). Statistical Methods, 4^th edition, Delhi, Sultan Chand & Sons.

Articles and Journals:

• Gregory L. Shaw (2004). Business Crisis and Continuity Management. George Washington University, U. S. A.
• David N. Garrett (2012). The Evolution of Business Continuity Management in Large Irish Enterprises between 2004 and 2009. Dublin City University Business School, Ireland.

About the Article:

This article was read out in the Fourth International Conference on Global Business, Economics, Finance and Social Sciences (GB15 Kolkata Conference) ISBN: 978-1-63415-898-5, Kolkata, India, from 18-20 December, 2015. Previously a presentation with the same name was published in the blog of The Concept Research Foundation. This presentation was prepared on the basis of this article.