Udyog Sanchetana (E)-Sep' 2024
Virendra Grover
IITian, Trainer, Editor "Udyog Sanchetana", Career Coach, Author Freelance BLOGGER, Life Member LUB, IEI, IIM, GMA
Udyog Sanchetana page on LinkedIn offers periodic blogs in English that are counterpart of monthly, FREE, eNewsletter since April 2014.
Reach out to 122nd issue of Udyog Sanchetana (H) at https://lnkd.in/gNtnWMS6
The DuPont Story
[From the pen of Master Eshan Chopra, a class VII student from Dallas (US)]
The name DuPont had it’s beginning in early 19th century. It was during the French Revolution, Pierre Samuel DuPont DE Nemours, economic advisor to the king of France, fled to America fearing execution by public. Eleuthere Irenee or E.I. DuPont, an intelligent Chemist had know how ?to create advanced gunpowder than that manufactured in US.
He bought 85 acres of land in the state of Delaware, used his business tactics to win the trust of the U.S. government and the public. Although successful, there weren't much profits due to emphasis on expansion and repairing. However, E.I. passed away due to heart attack in 1834.
Alfred DuPont was the next to hold rein 13 years; he tried to make it as safe as possible, but almost bankrupted the company. His younger brother Henry took over in 1850, whose philosophy was to maximise profits in any way possible. This worked to his advantage and company became stronger than ever before. Henry was succeeded by Lammot DuPont, a gifted businessman, but he died in a lab accident, leaving no successor behind to head the company.
DuPont Company was sold itself to competitors, before Alfred I DuPont decided to take over. Although he didn't have enough money, but he was good at managing. He along with cousins worked out plan to pay the highest bidder, saying they would pay the board of directors in stocks instead of cash, and the company was back virtually without money…Looks like Miracle, ….isn’t it?
The 3 cousins not only maximised profits, but went ahead to buy their largest competitors, including those that had outbid them for DuPont. ?With this, the family went ahead from a humble to luxurious life, with large mansions and show of wealth. However, family feud between two brothers for the love of same woman resulted in relationships turmoil in the family and Alfred was kicked out of the company.
This led to lawsuits, but over the next decade Pierre DuPont continued to grow and turned the explosives manufacturer into World's Largest Chemical Corporation that supplied ?40% of all ammunition to the Allies during World War – I and made billions of dollars.
Using this wealth, DuPont ventured into manufacturing paint, artificial leather, dyes, rayon, and cellophane and also invested 23% in General Motors, one of the largest automobile manufacturers of the time, spent lavishly on gardens, hospitals, real estate, until the Great Depression.
During this time, the people who benefitted from the war were seen as enemies of society and were blamed for defrauding the US government. DuPont family became reclusive, but kept on receiving criticism. President Roosevelt passed laws to tax such wealthy families while DuPont family was trying to hold on to their wealth.
In 1940, U.S joined World War II, and Du Pont helped U.S make the first ever atomic bomb. Being scarred after working with explosives, DuPont decided to leave the explosives segment and committed to make "Better things for better living."
DuPont gambled big money for developing Nylon. Over 750,000 pairs of nylon stockings were sold on the first day in department stores across the United States. DuPont also invented neoprene, a synthetic rubber, Lucite acrylic resin, and the notorious Teflon. In 1949, the US justice department took action against their monopoly and ?forced them to give up their holdings in the General Motors.
The survival and growth of DuPont after over two Centuries, starting 1802, i.e. 222 years to be precise till today, could be a lesson for the corporate sector to learn the art of survival and growth.
World-beating Indian energy stocks rally has fuel for more gains
The Nifty Energy Index, a local benchmark for the industry, has risen 31% this year, on course for a nine-year winning streak. In the period, a Bloomberg gauge of the world’s 124 mid- to large-sized energy firms has gained 4.7%, with half of its top 10 performers being traditional energy firms from India.
What do Know about IoE ?
India is undergoing a revolution in education industry getting flooded with new Universities, Colleges of Medicine, Management Law, Engineering, Literature, Art and Social Studies.
Ranking gives a general idea of the status of Quality, when some claim to be among top 10 or 100 and then there are advertisements for Rank in the State, besides publicity for the highest pay package by one-two or couple of students to attract admissions.
But how many of us are aware of a new badge of quality offered by University Grants Commission, called IoE, the Institute of Eminence.
Started in 2018 with Indian Institute of Science (IISc) in 2018, there are 11 institutions as per list hereunder ?-
Table 1: IoE Public Institutions????????????????? Date of Notification
领英推荐
2. ?Indian Institute of Technology Delhi ???????? ????????? 11.10.2018
3. Indian Institute of Technology (IIT), Bombay ???? 11.10.2018
4. Indian Institute of Technology IIT Madras ?????????? 17.02.2020
5. Indian Institute of Technology Kharagpur ?????????? 20.02.2020
6. University of Delhi ??????? ???????????????????????????????? ??????? 02.03.2020
7. University of Hyderabad ????????????????????? ????????????????? 17.02.2020
8. Banaras Hindu University BHU ????????????? ???????????????? 17.02.2020
Table 2: IoE Private Institutions????????????????? ????Date of Notification
2. Manipal Academy of Higher Education ???????? ????????????????????? 14.10.2020
3. O. P. Jindal Global University??????????????????????? ????????? ? 04.11.2020
4. Shiv Nadar (Deemed to be University) ??????????????? ?????????? 03.08.2022
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Project Management Consultant and Trainer for Project Mgmt, Primavera, MS Project, Contract Mgmt, FIDIC, Claims, Agile-Scrum, and allied.
3 个月I fully agree with you Virendra Grover sir. Why only 12 IOE? Why cannot others dream and work for being at par or create something more than these? It needs a positive and constructive mindset with determination to go for it.