Monthly Archives: May 2017

Education for Judgement

Career Development (Placement), , , ,

The role of a manger is to make decision and to make a choice out of many options to lead organisation successfully to the next level. Can we teach how to make decision and to think strategically? It is hard thing to do . But thats what management programmes around the world claim to do. It is very easy for professors to teach management principles in a class room but it is very difficult for mangers to practice those theories in fast changing, disruptive and difficult world. The firefighting, the survival and making sense out of chaos fill manager’s or leader’s days and months. The outside change is so powerful that it is difficult to change the dominant logic of the company even if the leader knows that past success is no longer relevant in the new context. The example of Kodak and Nokia are too prominent on this. Management programmes claim to train people to become leaders? Can they do that . For sure, leaders can’t be created in a classroom and through classroom discussions . But what can be done in the classroom is that students can learn thoughtfully from their own experience and understand the context. They also get to know that leaders arise in the context. They understand context and attempt to adapt and change the context.

Even the modest aim of making student reflect on their experience and helping them to understand the context, a normal MBA class should not be taught like a normal post graduate class. In a normal class the teacher lectures and student absorbs and records and keeps the notes That’s where the case method scores over lecture method of teaching and learning. In each case study you get ample opportunity to understand the context of a decision maker and also reflect thoughtfully on your own experiences and learn from the connection

The case method of teaching and learning is difficult to practice. The traditional model of teaching and learning is based on the idea of transferring information from the teacher to students. The teacher controls the pace, sequencing and presentation. The teacher lectures and student listen and retains the essence of what is being taught . In this method the teacher provides the solution . In the real world no body has the solution When a manager goes to the real world he has to find solution on his own based on the knowledge and logical and gut thinking. He needs to think and asks questions to make sense of an emerging scenario on daily and long term basis

The case method is unique way of teaching as it teaches students to think and think for themselves. Any concept or theory which helps him to dig deeper in the case to make judgement needs to be learnt and applied . He should ask questions and should prepare his own answer. In an ideal case discussion scenario ,students can discuss and form opinion to take a particular decision. Learning to think is hard. Learning to think by using numbers and structured process is harder. Learning to think by connecting dots and form a holistic picture is the hardest. In the case method a student is co creator of knowledge and explains the context along with faculty unlike the the lecture method .

This is a difficult mindset to master where teacher ideally should not teach and students also feel confident enough to ask questions, think , challenge assumptions ,explain context, connect with their own experience . The mastery of judgement takes a lifetime .leaders also falter and make wrong decisions but they remain open about it as the self aware person . They have got nothing to hide. This self awareness leads to success in spotting new opportunities, in understanding context and people and taking to a new path

By teaching through case method, a faculty gets enriched by that process. He discovers the new facets through his students . He knows the deeply about the case but not everything. At the end end he connects the dot and enables students to see a interconnection between forces to make decision. A leader is also judged by the quality of his decisions, his assumptions about people and situation .

The great business leaders like Jeff Bezos of Amazon, Henry Smith of FedEx , Herb Keller of South west airlines, jack welch and Jeff Immelt of GE, Ratan Tata of Tata group, Narayan Murthy and Nandan Nilekani of Infosys demonstrate great many skills but the mastery of judgement comes from thinking though and understanding context and emerging future and being guided the strong values .

Case method of teaching and learning should be introduced in school to make sure that students learn that there are no right and wrong answers at the end. The context matters, the character matters and that get forged in the real world through hard work and perseverance and resilience .while knowing a certain body of knowledge is essential it the application which matters most

Teaching and learning by transferring information has become obsolete as Google and apps are going give information whenever required . But curiosity, learning to think, raising questions are critical tools on which future of learning seems to be based on . Case method despite its weaknesses fills the gap and is the most apt method for education for judgement

A Vibrant Campus Life at IILM

Campus Life,

A typical day on campus is exciting, challenging, zealous, active & inclusive. There is learning beyond the curriculum, which involves building on soft skills like teamwork, interactions, networking, and communication. The students are encouraged to pursue co-curricular interests, a variety of clubs and organizations exist on campus offering a range of leadership opportunities. They offer the scope of refining management and leadership skills, exploring interests and building networks.

Students at IILM have the opportunity to interact with business professionals & successful business managers in and out of the classroom set up all throughout the year. It works like a learning community where students are encouraged to make conscious decisions about the quality – rather than the quantity – of their engagement in a wide range of organizations, activities, and programs.

We also believe that students’ emotional and physical well-being is connected directly to their potential for academic, professional, and personal success. Through close collaboration and communication among faculty, staff, students, and their families, we work hard to ensure that every student is empowered to have a transformative IILM experience.

Some of the events that made a mark in 2016 -17 on campus with accompanied eminent personalities –

1. International Conference – PRME – IILM is one of the three business schools that are PRME Champions from Asia. PRME initiative is the largest organised relationship between the United Nations and business schools.

 

2. Annual Alumni Meet Up – Alumni Meet Up is an annual event to bring together the alumni & fellow batch mates to communicate and network with the current students of IILM. We also felicitate our senior alumni, reflecting on their journey with IILM that has enriched over the years.

 

3. Distinguished Global Thinker Awards – The 9th IILM Distinguished Global Thinker Award was conferred on Mr Naveen Jain in 2016. Naveen Jain is an entrepreneur and philanthropist – founder of Moon Express and Infospace.

 

4. PGDM Placement Week – Companies recruiting from IILM come from a diverse set of industries, covering almost 23 sectors. We have 300+ companies on campus offering job opportunities to students every year.

 

5. Annual HR & Marketing Conference – Departmental conferences are focus based discussions & engagement that is centrally constructed around continuous changes, innovations & ideas emerging out of management domains. Industry professionals are invited on campus across different sectors to have an engaged interaction with our students and faculty.

All in all, IILM is a vibrant & learning community where students are encouraged to make conscious desc ions in life pertaining to professional,  and personal counters. There are a lot many such events that are organized across all three campuses. Guest lectures, Alumni sessions, Management conferences, Annual college festivals, TEDx talks, Inter-campus debates and in house publications are just a few of the options available to the students to expand their horizons in terms of overall development.

Experience of a lifetime – IILM’s Global Study Program at International School of Management, Germany.

Global Study, , , ,

There’s a big world beyond the IILM campus, and a student can experience it through the golden opportunity given by IILM Undergraduate Business School as Global Study Program.

In order to be a responsible leader in today’s time students need to have first hand experience of cultures, organizations, and business practices around the world. In order to cater to this requirement IILM’s global offerings encompass a mandatory 3 week global study program.

This program was organized for the first time for our stage 1 students of 2015 – 18 batch. Based on the preferences, students were taken to International School of Management, at Hamburg, Germany. The entire program was sponsored by IILM and the partner school except that the students had to bear extra expenditures like food, travelling etc.

On the 8th of August 2016, 50 students collectively from both Lodhi Road and Gurgaon campus boarded Emirates flight for Hamburg, Germany along with the three faculty members. Ms Philipa , International Office Manager, ISM received us at the airport along with a coach to facilitate commutation from airport to the A&O Hostel where the students were given accommodation. While the travel itself, the students were handed over the ISD sim cards so that they can make calls to their parents and inform them about their safe arrival at Hamburg.

In addition with this the students were also explained about the rules and regulations to be followed at the hostel. Each and every student was provided on the same day with a train/bus card to travel nearby location for free of cost.

The students were also provided with a unique identity card inorder to seek entry into International School of Management, Hamburg, Germany.

This three weeks program was a blend of two modules, industry visits and cultural immersions. A highlight of this interesting curriculum is here.

1. Strategic Management: Prof. Qeis Kamran

The course covered the basics of strategic management, key elements, current trends in strategy, strategy thinking styles, the role of resources and knowledge, branding, decision making, organizational politics, international and collaborative strategies, strategy and innovation.  Module also introduced Prof. Kamran’s six forces model which challenged Porter’s five forces. This module was delivered through lectures, case study and visit to Google. The students appreciated the delivery of the course.

The professor made use of case studies such as  Volkswagen’s Clean Diesel Dilemma; University of Michigan; WDI Publishing, inorder to

2. Entrepreneurship & Innovation – Prof. A. Schonknecht

Course content included entrepreneurship and business development, innovation and business ideas, innovation strategy, business model development and business plan development. The module was delivered through lecture mode with the help of ppt.

Industrial and Cultural Visits in Germany 

Google

Learning Outcome: The students were able to relate the concepts learnt in the classroom. They learnt about the various strategies adopted by Google. This visit was a part of the module Strategic Management. A pre and post briefing reinforced the concepts delivered.

Feedback: Well appreciated by the students.

Lufthansa Technik

Learning Outcome: The students were able to witness the manufacturing and servicing of airplanes and learnt about the various ways a product is modified keeping in consideration the customer’s requirements.

Feedback: The students could not relate very well to the visit as it was more apt for engineering students.  It also became tiring for students to walk around the entire facility spread in acres. For all visits, transport arrangements must be looked into in the future programs.


Hamburg City Tour:

Learning Outcome: The students were informed and explained about the Hamburg city’s        heritage and culture.

Feedback: Liked and appreciated by the students

 

Hamburg Harbor:

Learning Outcome: The students got to experience Germany’s largest port – its gateway to the world. They were able to understand the significance of the port in Germany’s economy.

Feedback: Great visit, fully enjoyed by the students.

Overall the students had a great 360 degree experience in terms of classroom learning, industry visits, cultural immersions, hostel lifestyle, traveling using public transport etc.

 

Why Your Company Needs a B school Campus Recruitment Strategy

Why Your Company Needs a B-school Campus Recruitment Strategy?

Career Development (Placement), , , , , ,

On-campus information sessions and recruitment is the most popular way for management graduates to find career opportunities after job boards, employer website and career fairs. Campus recruiting is also a great way for organizations to engage emerging talent. But campus recruitment comes with its own challenges. Attracting management students on their own turf needs a sufficiently unique approach – an approach that includes engaging resources, a streamlined application process, and some memorable activities.

Today’s job market is more dependent on young talent than ever before. According to the data released by the Census of India, India has an unrivalled youth demographic: 65% of its population is 35 or under (the critical demography category of 18-35 years of age is approximately 32%).

In such environment, premier management schools continue to be an important channel for selecting leaders for companies. Companies have started to work on campus recruitment into their strategy to further entrench their leadership positions. Employers have also enhanced their focus on hiring from top tier b-schools.

On-campus recruitment is catching the fancy of Human Resources’ departments in companies across industries because on-campus recruiting can create a pipeline of interns and entry-level hires that can help these companies grow. Campus hiring can also help companies reduce the attrition rate dramatically, an extremely important benefit as employees are switching careers more frequently than ever before. When it comes to millennials, they are actually job-hopping more frequently than previous generations.

On-campus recruiting is also important for promoting your brand. Many of your company leaders will be first exposed to your company on their b-school campus. Even if management graduates aren’t hired directly out of campus, these graduates will remember your company as they continue their career path, and will keep it in mind in the future. In short, some of your most talented business leaders of tomorrow are on campus right now, probably unaware of your organization’s existence. An effective campus recruitment strategy should aim to change that.

Feeling confused and lost? Well, please don’t! We have weaved together this step-by-step guide to help your company come up with an effective campus recruiting strategy. This guide includes questionnaire, checklists, timelines, and some tested tricks for getting attention on campus.

What-Lies-Ahead-for-the-Indian-Youth

What Lies Ahead for the Indian Youth

Faculty, , , ,

India has the world’s highest youth population. According to 2011 Census, 62.5% of its 1.2 billion people are in the working population age of 15-59. On the other hand, Japan is the world’s oldest nation, with 25% of its population is above 65 years of age and by the year 2040, this is going to rise to 36%. In contrast, the proportion of dependents in India is going to witness a fall in the next two decades (often called demographic dividend), and this implies that the young population would be actively engaged in employment. This also implies a growing pool of buyers for goods and services who would engage in conspicuous consumption. During his visit to New York in 2014, Prime Minister Mr. Narendra Modi had proclaimed that India is blessed with “Democracy, Demographic Dividend and Demand”.

But one must not forget that the demographic dividend won’t last forever and in order to reap demographic dividend, India would need to scale up the skills and industries. A report by World Economic Forum (WEF) titled “The Future of Jobs” mentions the top 10 skills that would be required in 2020. These are: complex problem solving; critical thinking; creativity; people management; coordinating with others; emotional intelligence; judgement and decision making; service orientation; negotiation and cognitive flexibility.

These skills would become necessary to work in the milieu of so called the fourth industrial revolution. The first three industrial revolutions pertained to usage of steam, usage of electricity and usage of electronics and IT.  In essence, the fourth industrial revolution is a digital revolution. According to WEF report, this incorporates usage of robotics, self-driven vehicles, advanced materials, biotechnology and genomics. Yes, the boffins at WEF might have consulted all the screenplays of Steven Spielberg!

In 2015, Indian government launched Skill India campaign, which aims to train the youth in various blue collar skills and enhance entrepreneurship by the year 2020. But India experiences huge skills gap. According to the survey of Labour Bureau, only around 7% of persons aged 15 year and above received vocational training. In order to encourage entrepreneurship in India, the policymakers initiated the National Policy on Skill Development and Entrepreneurship 2015. They hope to enhance skills in three main areas, viz. soft skills, entrepreneurship, and digital literacy.

India’s Indian Information Technology (IT) service sector employs 4 million people, but the sector is experiencing slowdown in employment. According to The National Association of Software and Services Companies (NASSCOM), a trade association of IT and Business Process Outsourcing (BPO) industry, 150 thousand new positions were created in the IT sector in 2016, compared to 230 thousand positions in 2013. The same association predicts that field such as data analytics and connected devices will account for at least 38 per cent of Indian IT industry revenues by 2025.

At the time of this writing, I have been watching Live Stream of annual meeting of Berkshire Hathaway and its CEO Warren Buffet (one of the richest person and investor) has many investments. Among these, he owns a railroad company and an insurance company in USA. He mentioned in Q&A session that technologies like self-driving cars would make insurance industry redundant and artificial intelligence (AI) would disrupt the current economic system as there would be an adjustment in the economy that needs fewer human workers.

India as a growing economy and it is betting on IT industry as its future engine of growth, it cannot remain immune to these change. Indian youth needs to sharpen the skills and be ready to face the rapid future economic and technological disruptions.