Welcome to ICBAMI - 2012

The world economy is going through a downswing and the estimates of global growth are being downsized substantially. The reason for this downsize is attributed to the recent policy errors witnessed both in the U.S and Europe, and the policy prescription of fiscal tightening expected in 2012. In the U.S, the debt ceiling debate coupled with the S&P downgrade has deeply shaken the business sentiment. In Europe, the rising value of Euro is affecting the European exports while the debt problems of many countries in the continent are adversely affecting their growth.

Governance has always been an issue in China despite its steady economic growth. About one third of the private entrepreneurs in the country are members of the ruling party since this helps them to get state finance, more protection and legitimacy- an instance of nepotism in the system. Further, there is lack of transparency in the economy, which becomes evident through the Government's attempt to censor Google. Even in countries like Tunisia, Egypt, Algeria, Yemen, Mauritania, Jordan, Saudi Arabia & Libya, people are raising a cry against the governments for their political, social & economic rights.

Looking to India, the country is currently fighting the problems of high rate of inflation, persistently large fiscal deficit, surging current account deficit and the like. In addition to this, inadequate infrastructure, terrorism and high level of corruption in the system seem to be the major impediments to the country's growth prospects.

The concern for growth and all the growth figures, however, will be more meaningful if environment is taken into consideration. Economic growth must be decoupled from emissions growth - a fact, businesses may see as an opportunity or as a constraint.

In the above context, business needs to continuously innovate its processes and applications in this changed economic and socio-political environment for providing superior value to their stake holders. Management practitioners and academicians require exerting their cognitive abilities to address these issues by creating new set of knowledge for a bright and sustainable future.

In the 1st "International Conference on Business Applications & Management Issues" organized by Faculty of Management Studies, Dr. B.C. Roy Engineering College, researchers and practitioners will debate, discuss and brainstorm to find a roadmap to address the issues. We hope to experience an extensive transaction of knowledge that helps in outlining the policies for the time to come.

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