Responsible Management Education

The 10th IILM Distinguished Global Thinker Award

The 10th IILM Distinguished Global Thinker Award was conferred on Prof. Ashish Nanda, an eminent academician and Director, Indian Institute of Management, Ahmedabad. The Award was presented to Prof. Nanda by Mrs. Malvika Rai, Chairperson, IILM.

Prof. Ashish Nanda has a PhD in Business Economics (Harvard), AM in Economics (Harvard), PGDM in Management (IIM Ahmedabad), and B.Tech in Electrical Engineering (IIT Delhi). Prior to his doctoral studies, he worked for five years with the Tata group of companies as Tata Administrative Services officer. A recipient of the Henry B. Arthur Fellowship, the Harvard University Center for Ethics in Professions Fellowship, President of India Gold Medal (twice), and the IIM Director’s Gold Medal, he has published several case studies and Harvard Business Review articles. He taught at the Harvard Business School and Harvard Law School for 20 years and has advised numerous professional services companies.

While accepting the award, Prof. Nanda, expressed his gratitude with generosity of spirit and warmth and thanked IILM for conferring this award.

Welcoming Prof. Nanda, Professor Rakesh Chaudhry, Senior Director IILM, shared that IILM launched the Global Thinker Award in 2006, to celebrate and honor those distinguished individuals who have contributed substantially to the global stream of consciousness, ideas, and knowledge, and have made a significant difference in the national and global community.

In the lecture delivered on ‘Profession of Management’, Prof. Nanda, spoke about management as a profession and explained the meaning of the word profession which means Profess, i.e. “making a claim or commitment to a superordinated goal.” He brought up whether like any other profession- legal, medical and military, the management profession too needs to take a vow to serve their clients’ interests and always keep the clients interest above their own. He emphasized that the necessity to vow is paramount as input and output of the services rendered by the professionals are not verifiable or measurable by their clients.

He wondered if the management can be called as a profession. In his opinion, if management is to be a profession, it needs to have its own association, cognitive base, licensing and code of ethics, which puts the moral obligation on the profession and to achieve super-ordinate goal, social status, respect, pride, attorney for the nature of work done towards their clients. Thus, it becomes imperative for the management professional to take a vow to achieve super ordinate goal that would serve the best interest of his client.

As per Prof. Ashish Nanda, “I am extremely honored by the generosity of the spirit. I just feel that I have had a very fortunate life and opportunities have opened up at various points and it’s been a wonderful journey so far and I hope that it continues to be productive and good journey. I am going to talk on the subject of ‘Profession of Management’. People have often used the term Professional Managers and the term is used very often to distinguish managers from promoters or owners of family business. That’s the way people call it, they say professionalization of firms / professional managers. In casual usage, it is supposed to be people who are in management positions, who are not entrepreneurs or not in family owned business. But if you go to a student in the field of Sociology, he would say that word profession means ‘Sociology of Professions’, so the question here is – Is management truly a profession? Should it be a profession? I am going to say a few words on that. Profession has two kinds – true professions and free professions. True professions are the kinds where actually there is an organization, there are some goals, you take a vow, and these are military organized religion. Free professions are where actually you do take a vow; you also have commitment to something super ordinate goal but you can be in multiple organizations, for example, super ordinate goal a military person commits to is national well-being.

What a professional does is he provides service to those he is serving and the service is very valuable and this service arises out of capabilities these people have developed after years of training and development. So there is a great deal of knowledge that goes into delivery of service. Think of a Heart Surgeon for example, when a heart surgeon is operating, he has worked for years on a body of knowledge and training and the service he is providing to you at that time is extremely valuable. These are the two characteristics that together determine who are professionals. One of the challenges is that the work the professional is doing, it is very difficult for the client to judge the input and the quality of output because both are non-measurable. It is not possible for client to actually make sure that the professional’s interests are aligned with the client’s interests.

What Professionals do is they take a vow to become professionals. In many countries, you do not become a lawyer by just passing LLB, you actually have to join the Bar Council to become a lawyer and part of joining the bar council is to sign a vow so there is something that you profess when you become a lawyer or a doctor or any other profession. Vow has the same characteristics. The vow is I promise to fulfill my client’s interests ahead of my own interests. If your client believes in your vow, then they will trust you to do the best for them. Now, who makes sure that you are actually following your vow, your own fellow practitioners do it.

Another very interesting characteristic of professionals is most professionals have associations for example, bar association, medical association. The reason those associations exist is they promise to society we will make sure that people who join our professions they take the vow and we will monitor ourselves carefully, in return for that promise society gives two very powerful rights – right of self-certification – accountants decide who will become an accountant, lawyers decide who will become a lawyer. Second right they get is one of self-discipline. They themselves decide who has broken the vow and will be punished. So what happens in the profession is Professionals make a promise, society trust them, they have an association which make sure that you hold true to promise and if associations work well, we will give you the autonomy / freedom.

For management to be a profession (many of us say management is a profession), it requires managers to take a vow to do things in the best interest of their clients. This is a challenge – managers will say who is my client, I have stakeholders – customers, employees, owners; theory of multiple stakeholders is applied here. Agency theorists will say that managers exist because owners tell them to run the enterprise on their behalf’s so their clients are the owners. So managers have to take a vow that they will act in the long term interest of the owners. If management is a profession what do managers commit to, what is the super ordinate goal? I think what managers can commit to is efficiency, if we have that spirit in managers then perhaps we can say that managers are professionals. There has to be an association of managers that can evaluate how the managers are doing, whether the resources are being effectively used.

Are we anywhere close to that in Management? Overall my answer is No. For management to claim that we are professionals this is what is required, not just saying that we have MBA degree, we become professionals. If they try to maximize personal returns, it reduces the possibility of becoming professionals. What helps managers being treated as professionals when they are investing for long term returns, building the assets for organization? Second thing that will make a big difference is more and more human capital in intangible assets becomes a part of the equation. So, where do I see this leading, I think technical education in skills of management has made MBA degree very attractive. There will be some institutions which emphasis to their students on their responsibility, try to have them build a sense of commitment to the super ordinate goal. Over a period of time, people coming out these institutions will be able to deliver better results and out of this category the profession of management will emerge.”

Dr. Smitha Girija, Director, IILM, thanked Prof. Nanda and the distinguished guests. The award ceremony closed with the singing of National Anthem.

Campus News

Ad Mad@ IILM, Gurgaon

Marketing and advertising are age old tools which are quite vital for any business to prosper. Since when the first civilizations started walking the planet, business has been an integral part of the human society starting from the barter system to modern digital stock marketing. For one’s business to prosper, an effective marketing strategy is an obvious necessity. On the 8th of September, 2015, IILM Institute of Business and Management engineered an event which gave its students a firsthand understanding of marketing and advertising. The Marketing Club introduced an event called “Ad Mads”.

Students were required to form groups of 5 for participating in the competition. The numbers were really very encouraging when it came to participants. There were a total of 7 teams who had registered for the event ready to go head to head with each other. The rules of the competition were quite simple and yet elaborate. Groups were to choose any FMCG product and market their product in three phases as mentioned in the rules.

PHASE I- Phata Poster Nikla Hero

Phase 1 of the competition required the groups to introduce their products to the judges. Now, the first impression of any commercial product is vital, thus the criticality of this phase could not be ignored. The winning group chose a clothing line named “BC-Bright and Clean” line of clothing. Here they have to highlight factor in design, quality, technology used in manufacturing, customer feasibility and prevailing market conditions.

PHASE II- Poster presentation

The second phase of the competition required the groups to prepare posters containing information and graphics about their respective products and to display them before the judges. As easy it may sound, poster making is a tricky business. Not only do you have make the poster attractive but you also have to include all the necessary details about your product so as to give the customers a clear understanding of the product

PHASE III- Advertising

The third phase was probably the most dynamic of the three stages involved in the competition. Teams were required to either present pre-shot advertisements of their product or perform live skits, again showcasing their product. The response was phenomenal. Teams came up with skits organised quite meticulously and with a huge factor of humor involved engrossing the audience into what they were doing. This round highlighted that students of IILM, Gurgaon were richly equipped with creativity and innovation.

THE WINNERS

The  winners were, Rashika Goel, Ashish Anand, Rakshita Chowdhary, Taleen Bhateja and  Sagnik Das (PGDM 15-17) as team members.

 

Talent Hunt

The first event of Utsav – The Cultural Club started off with a bang for the new batch of 2015-17 with the Talent Hunt competition. Amidst the hustle and bustle of the classes, the students managed to pull off a great show, helping their colleagues and themselves to showcase their hidden talents.

The activity was a wonderful welcome and a much needed breather to the student’s academic schedule. It was the first time in two weeks of the orientation programme that the students were able to interact with the faculty and staff members. This talent hunt marked the beginning of an eventful year ahead. The spirited students participated in singing and dancing events organized by their peers to present their forte in a specific area. The songs and dance presented, were a great blend of traditional and contemporary styles. The hosts of the day did a fabulous job by getting the crowd to put on their thinking caps as they bombarded the audience with a series of rapid fire rounds. They also organized Extempore which allowed people from the audience to speak on a topic for a few minutes. The faculty members came up for the extempore on the request of the students and brought a smile to every students face. All the students were applauded and rewarded for their participation and noteworthy performances.

The event was a great platform for students to flaunt their talent and was the first of many such events to come by Utsav – The Cultural Club at IILM Gurgaon!

-Shreya Mukherjee (PGDM Student, Batch of 2015-17, IILM Gurgaon)

 

INDEPENDENCE DAY Celebration 2015

Displaying the vibrant “Colors of India”, Utsav– The Cultural Club presented its next event after the start of the new session in August 2015. The event marked the coming together of PG1 & PG2 students to display their love and devotion for the country. Celebrating the 69th Independence Day, the event showcased both modern and traditional India.

Starting off with a Street play, “Bharat Mahan” the students projected Indian historical events right from the struggle of independence, to post independence and wrapped up beautifully to the present scenario of the Indian subcontinent. The dramatization of the insurmountable pains and struggles of our lost heroes struck a chord with the audience. The audience was enthralled with the dance performances, which showcased the vibrancy and colors of India – Des Rangeela, accompanied with various other performances depicted the states and culture prevalent in India and commercial India. To sway the audience, a college band performed a lyrical display of patriotism. The faculties and audience were kept engaged through a fashion show,which was conducted to identify the best-dressed students with respect to the theme. 2 boys and 2 girls were awarded with the title and were applauded for their patriotic attire.

The event proved to be a huge success and got everyone engrossed with the celebrations. It truly felt like a Mil-e-Sur day for us at the IILM Gurgaon Campus as it inspired us all to keep the unity and patriotism for our country in tact and further to celebrate the pride of being Indians. Jai Hind!

– RADHIKA BANSAL (PGDM Batch of 2015-17, IILM Gurgaon)

 

Teachers day and Janmashtami celebration

Amidst the management rigor, the students of IILM can not imagine anything existing without their faculty members, who put in a lot of hard work into the students and to dedicate only one day to them would not do justice to appreciate all the things the faculties do each day.

The event was conducted in two parts. The students of IILM Gurgaon planned a two-day event to celebrate Janamashtami and Teachers Day with the Faculties and Staff on the 4th& 5th of September 2015

On 4th September 2015, the event started with a Janamashtami Puja where the birth of Lord Krishna was celebrated by a small ceremonial “Bhogh” to the Lord followed by a “Handi Todd” where the students huddled up and made a human pyramid in order to burst the “Matka” or Earthen pot filled with milk which was hung by a rope on the ceiling.

The Teachers Day Celebrations began thereafter where song dedications were made by the students to felicitate the faculty members followed by a couple of games and fun to engage the faculty members and staff. As students of IILM it was a treat to our eyes to see our teachers turning into students and displaying their fun sides. The day ended on a fabulous note and the awaiting surprise for Part 2 of the celebration.

On 5th September, the teachers were busy in conducting their lecture and the students were engaged in arranging a party in the college cafeteria for the faculty and staff members. All the faculty members were invited and a cake cutting ceremony was conducted. On request of our teachers, the roles were reversed- the teachers acted as students and vice-versa. In the end, the students expressed their gratitude for their loving teachers through the card collage, which were much appreciated by the faculty and staff members.

This marked the end of the 2-day event for Teachers Day and gave the students a chance to express their gratitude to the faculty members. Their guidance and warmth do not let us miss our loved ones even for a minute in the day!

“It is the supreme art of the teacher to awaken joy in creative expression and knowledge” – Albert Einstien

– RADHIKA BANSAL (Student at IILM Gurgaon, Batch of 2015-17)

 

NGO Club Event

NGO Club Pukar of IILM Institute for Business and Management organized an event where students members invited kids of support staff and kids from nearby slum areas to the campus. There were a number of activities organized for these kids by our students. There were role play activities, dance performances, games ,drawing and a host of other activities for the development of these kids. Student members took full charge of the event from organizing to managing .At the end kids were served fruit juices and snacks plus gifts which made their day.