From Spring Meetings - 2015- of World Bank/ IMF and relevant information

• The global economy is growing slightly faster than in 2014, although growth rates vary widely among countries.
• Risks are from potential financial market volatility, movements in exchange rates and oil and other commodity prices, and sluggish global trade.
• While some middle-income countries (MICs) are experiencing easing of growth, low-income countries, as a group, continue to record good growth rates.
• In aggregate, cheaper oil and commodities will result in a significant real income shift from oil exporters to oil importers, with a net positive effect on growth in developing countries.  
• IMF states that policymakers were encouraged to implement bold measures to prevent growth from settling into a “new mediocre,” with unacceptably low job creation and inclusion. While accommodative policies remained essential, addressing structural deficiencies needed to become a much higher priority.

Area	Fall 2014 Policy Agenda	Spring  2015 Policy Agenda
Euro Area	Provide demand support Invigorate labor and product markets	Provide effective demand support -Implement labor and product market reforms
United States	Safeguard financial stability Tackle infrastructure gaps	Ensure smooth monetary normalization- Establish medium-term fiscal consolidation plan
Japan	Improve product and labor markets Address fiscal sustainability concerns	Implement fiscal and structural reforms- Enhance monetary policy transmission
China	Foster demand rebalancing Rein in shadow banking	Manage demand rebalancing- Address vulnerabilities in overinvested sectors
Emerging Market Economies	Tackle structural deficiencies Strengthen macro frameworks	Address external vulnerabilities- Lift potential growth
Low Income Developing Countries	Mobilize fiscal revenues Deepen financial markets	Strengthen policy frameworks - Rebuild fiscal and external buffers

 Without any ris or responsility

The Manager in the Age of the Internet of Things

"This new reality in technology— called the Internet of Things—is about collecting and managing the massive amounts of data from a rapidly growing network of devices and sensors, processing that data, and then sharing it with other connected things[1]. "

On the Changing Role of Managers:

•   The Manager (IoTM) has to be futuristic as the Internet of Things (IoT) is the technology of the future.
•    He / She has to un-freeze from the past and refreeze to be technologically aware and digitally engaged manager.
•        Developing technical competencies among the staff for the IoT.  
•         IoT is about machine to machine (M2M) conversations. So the manager  has to have his / her IT skills upgraded. The manager must revisit his / her knowledge of operations management.
•     IoT brings about enhanced operational risks. In an environment of geopolitical tension, the manager has to assess and address the firm's protective shield for a probable cyber attack.  The manager has test systems for vulnerability on a continuing basis.
•  IoT brings about the challenge of security of systems. As the technology invades the corporate sphere, self regulation takes over.
•    The new products and services of the future have to be smart.
•    The market is trillion dollar. Great corporations have a technological, financial (read investment) and early mover advantages. 
•    The manager has to assimilate the art of Multi Channel Brand management.
•    The manager has to develop consumer soundboards from social media platforms.
• The organization has to cope with the  shift to Micro-electromechanical systems (MEMS)
• The need for digital agility.
• New content development on an ongoing basis. 
• Information asset management.
• Working profitability in an environment of cost reduction. The manufacturing costs for smart devices will be lower because of lower prices for silicon chips
• Streamlining the distribution and management systems and processes of digital content, regardless of where it resides, is the first step toward containing costs.
• Inventory digitilization and inventorizing digital content across the firm.
• Ensuring functional growth. 
• Cross team coordination. 
• The shift to a sensor driven  organization.
• Sifting through big data ; developing an analytic culture in the organization.
• Using data for predicting in an uncertain world.
• To be innovative and more to to be disruptor. 

Copyright :Jayaram Nayar

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[1] Oracle (2014) : The Internet of Things: Manage the Complexity, Seize the Opportunity

Bank of England Committee raises concern over Cyber risk

News Release - Financial Policy Committee statement from its meeting, 24 March 2015 Released on 26 March 2015  

Cyber risk 

"In an environment of geopolitical tension, the Committee remains concerned about the need for core firms and financial market infrastructures to address their resilience to cyber attack.  The Committee will receive an update on the programme of vulnerability testing of systemic firms at its meeting in June. "

Source: http://www.bankofengland.co.uk//publications/Pages/news/2015/021.aspx



Without any risk or responsibility