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Really is it True- Do we all Think Alike?

I was reading in the morning paper about how a game of Ludo saved our lives during the lockdown. The collective power of distracting ourselves from the pandemic glued people the world over to gaming. Obsession and now so much time on hand, made some people go back to board games, especially Ludo- the traditional four players’ game. Families hurdled up together for some fun time, given when they were free from their work from home schedule to enjoy each other’s company. Some took to phones and started playing ludo with friends and family near and far to play ludo on the app. It was all good fun and in essence, has taught many of us the virtues of living life. Pandemic was not only an eye-opener for so many of us who were living life in the fast lane but was also an insightful year to reflect and relax in life- we only get it once.

Ludo as explained by Wikipedia is a strategy board game for two to four players, in which the players race their four tokens from start to finish according to the rolls of a single die. Two, three, or four can play, without partnerships.

This game brings out the best in us- to win and go home and be happy or the worst- to keep killing other players’ tokens so that you can overtake them and win. A lot of animosities also stems up from those who are not interested in being killed and sent back to wait for a roll of dice to make a six and be released all over again in the game. This game is not for the weak-hearted, as only the most meticulous, careful, and fully aware player will make it first to home without a scratch.

Like others, I always begin the game hoping for my dice to show six so that my tokens will freely roam around the square of the board, only to occasionally meet threats from other players, who would be determined not to let my token take a peaceful walk by home, unscratched.

So, while I am rejoicing for my tokens and at the same time worried that other players may not harm me, I wonder, do we all play fair? Do we all think alike? Is it true that like-minded people think alike?

Thinking is a mental process of experiencing present events and making critical judgments from past experiences. Thinking is used almost every second of our living and most of the time engage in thoughtfulness without even thinking. It is like a habit you flow into without you realizing you are doing it (nail-biting for example).

We all display similar yet unique styles of thinking even though we can be characterized into personality types, yet something in our nature makes us individually unique. To explain how we think, I will bring in Sternberg’s ideology of thinking styles.

Sternberg (1988,1997) proposed his own theory of thinking styles, a theory he named the “theory of mental self-government”. He used the metaphor of mental self-government to portray how the human mind works. His theory postulated 13 different mental styles to manage our daily activities. To make it simpler, I would like to explain different mental styles with examples of players on a Ludo game and their strategies to win.

A legislative player will use his own method, not follow others, and look for winning moments but creatively.

An executive player will follow only a structured method and hopefully will not cheat.

A judicial player will evaluate other players’ moves and constantly comment in the game at them.

A monarchic player will spend all his energy on one token to safety than putting all his tokens in the game.

A hierarchic player will put all his tokens out in the game and make the most calculative moves to save his tokens.

An oligarchic player will be in a hurry to win and will move without looking in the game.

An anarchic player will go all out to win, unlike an executive, unlikely to see risk assessment of other players moves.

A global player may look like a loser in the beginning but will keep looking at the bigger picture than a quick win.

A local player will keep thinking, time-consuming player of the game, and take small steps.

An internal player is someone only playing for himself even if it is a group game, no partnership, no mercy to others.

External player unlike internal player is playing with everyone, will let others go at times than cutting their chance and putting them back in the box. He likes partnership.

A liberal player will keep changing his own strategies to surprise other players with unpredictable moves in the game.

Conservative player will be the predictable player of the game, everyone will know his moves even before he moves his tokens.

We like the players in Ludo have different thinking styles which we display in different scenarios when thinking critically and working through problem-solving. To make effective decisions, most of us jump from one thinking style to another, maybe from personal to professional concerns of decision making.

There is no one reason to explain this variation, but yes, some generalizations can be as to how skilled we are, varied past experiences, the seriousness of problem-solving, time at hand, and of course our temperament influences the way we think and from that thinking behave.

To conclude, thinking influences all facets of our life even when we are mindlessly doing something, say as simple as a board game. Interestingly, even if everyone knows how to play ludo, they will always play it differently than the last time; just like our thinking styles alike- yet different.

Impact of Personality and Behavioral Styles During Difficult Negotiations- Amitabh Mukherji MA PSY 2019-2021

 

This article is a small effort to help one understand the science and art of negotiation and manage the negotiation processes. It suggests few insights of the same.

Negotiation is all about trading or in simpler terms, it is nothing but a type of deal one does while carrying out businesses. It is distinctive from other forms of decision-making. “In negotiation there is an explicit trade: I get some of what I want and you get some of what you want” (Kennedy 1994: 3). There is no negotiation in voids since negotiations conclude in decision-making. We must however seek to resolve matters by various means, including submission of others.

One exhibits traits, which makes us understand the personality. These traits incline a person to respond in certain ways. If one’s personality is stable enough then it could produce predictable responses to different negotiating situations during the dealings one carries out with different personalities. In turn it helps one to secure better negotiated outcomes.

According to the research by Rubin and Brown, two variables were identified to determine personality styles influencing negotiation skills. The two variables are: Interpersonal Orientation (IO), also known as social ability and social awareness. If one is high on IO then one is responsive to one’s relationship with the other negotiator and low IO leads to non-responsiveness. The other is, Motivational Orientation (MO), means one’s nature is competitive or co-operative. These variables thus give rise to Aggressive and Submissive personality styles.

There is always a likelihood of coming across difficult negotiators in different walks of our life. They may or may not agree with us and may seem less than enthusiastic. Because of certain behavioral traits, they could be labeled as mean, aggressive and lacking in manners.

So the question is how one should deal with such complicated negotiators? One may want to negotiate but the other person may not want to! Their version of a solution implies that either one gives in and provide them what they demand or end it there.

What we need to understand is that their mindset regarding negotiation is different. They adopt such aggressive behavior(s) while negotiating, possibly because in the past they got what they demanded and they confuse aggression with toughness, which in actuality is different.

Need of the hour then is, to sever the connection of the other negotiator’s stances of intimidation and winning. For that one needs to grab the attention, choose the same style of negotiation or a contrasting style and assert unambiguously that the other negotiator will not resort to coercion or bullying but will deal either through merit of the case or through trading.

At-times matching style could be risky as it can easily get lost amidst the haze of threats and insults. The main purpose of it is to create an impression that one does not possesses a submissive personality style and it also leaves open an alternative settlement route. Contrasting style could also be risky since being possibly read by the difficult negotiators as one being submissive.

One can adopt the following during negotiations:

  • Quiet and soft conversations.
  • Displaying warmth.
  • Unhurried discussions.
  • Do not hear; but listen.
  • Empathetic attitude.
  • Understand non-verbal cues.
  • Non-interference and patience during interruptions.
  • Non-responsiveness, if there is swearing by the other negotiator.
  • Non-argumentative, if there are personal attacks.
  • Ignoring threats.
  • Be non-defensive against ascribed motives.
  • No acrimonious action.
  • Positive responses, if there is overt demonstration of aggressiveness and deviousness from the other negotiator.
  • Display of humility along with firmness.
  • Affirmativeness to be displayed upon arriving at an agreeable solution based upon merits of the case and trading.

Adoption of the above effectively renders an assertive message of; one’s toughness during negotiations, that is based on the rationale; that unless one acquires something, the other will obtain absolutely nothing.

It can be well concluded that negotiations are a fundamental element in our social lives. One knowingly or unknowingly, always negotiates for resources and attention. Recent studies have brought out that Negotiation is both an art and science. Cognitive biases (leading to deviation from judgmental rationales), personality and behavioral styles, affect negotiations. Thus a little psychology backed science added with conversational arts can deliver success during difficult negotiations.

“Everything is negotiable. Whether or not the negotiation is easy is another thing.” Carrie Fisher

AMITABH MUKERJI- A Defence Officer who is also pursuing Masters in Psychology from IILM University..
Apart from being a Science Graduate, he has certifications and diplomas in Defence Management (Strategic Studies) and Cyber Law and is a qualified Assessor for selecting candidates for Defence Services.

Musing Minds- Student Blog- Ms. Ananya Suri MA Psychology

As I sat one night brainstorming ways to do justice to this blog and introduce myself to the world of sharing musings, I channeled all of my love for psychology into a “personality type” format to kick off my journaling. I recently took the popular ’16 personality’ test online to amuse myself. It is an adaptation of the theory of psychological personality types produced by Carl Jung. It is based on 16 personality types, which Jung viewed as stereotypes. At the heart of Myers – Briggs theory are four spectrum on which one can be positioned, forming their unique personality. These are:

  • People and things (Extroversion “E”), versus ideas and information (Introversion “I”).
  • Facts and reality (Sensing “S”), versus possibilities and potential (Intuition “N”).
  • Logic and truth (Thinking “T”), versus values and relationships (Feeling “F”).
  • A lifestyle that is well-structured (Judgment “J”), versus one that goes with the flow (Perception/ Prospecting “P”)While at first I struggled with how definitive it seemed in its diagnosis and how online “personality tests” can often seem like you are reading a horoscope, I decided to be less skeptical and introspect. Isn’t it my life experiences that make me who I am? How do they put together all of my essence  into this succinct format? 

    ENFPs’ (like myself) are invigorating, independent and socially adept at navigating our worlds using an enthusiasm for exploration. This has been true for every aspect of my life. My self-esteem is driven by my ability to produce original content and come up with creative solutions. I’m inherently curious, which leaves me longing for life-changing experiences.

    During my childhood, I discovered my need for social interactions and exploration. The first pillar of my personality, extroversion (E) shone through in my formative years.

    I struggled with learning disabilities and dexterity problems as a child. Focusing in class was an uphill battle and I could be easily distracted; I found it difficult to cope with classwork and homework, and was left to deal with the same largely undiagnosed.

    Despite my struggle with academics, it didn’t hinder me from pursuing extracurricular hobbies and I focused on being a complete people’s person. All of my parents ‘couple’ friends together provided a strong childhood friends circle that I carry along with me even now, forming a family-like bond making me learn to express myself through my friendships.

    In lieu of my prospecting nature comes my passion: Psychology. The world is my playground, and I intend to explore every inch of it! My intuitive (N) side thrives while discovering the beauty of the world around us. I tend to see life as a big, complex puzzle where everything is connected, through a prism of emotion, compassion, and mysticism, constantly seeking deeper meaning.

    On the other hand, that same intuition has a darker side, which shows in my low score of (P). I often deal with anxiety for a multitude of reasons, some of which are hard to admit. While I love social interaction, it can leave me caring too much about what other people think of me. Sometimes I get too hung up on the smaller details and fail to see the bigger picture and my overthinking takes over all else. Although, my flaws are a part of who I am. My anxiety makes me sensitive, it drives me to be a perfectionist and want to improve constantly. I give my all to anything I put my heart to, and for that, I am thankful.

    Lastly, my feeling (F) side is evident in all my interpersonal relationships ,and brings out all the other factors of my personality even more, especially with my family.

    My parents voracious and infectious energies have given me an immense passion that I carry on within me (and it even sometimes drives my sister and me up the wall). I have always been in admiration of how they brought us up, constantly learning from their creative parenting. Our home has always been a very open and progressive household, sharing feelings, thoughts, and ideas every step of the way. No topic has been out of bounds, no conversation that couldn’t be shared among us four. Anything and everything was open to debate and all our voices rang loud and clear. There’s ‘never a dull day’ in the “Suri household”.

    Another central aspect of my life is my very loving husband. We traveled together in the same school bus, and like most pre-pubescent in 8th grade, we fell head over heels. What one would assume was childish infatuation was anything but that. I’m now married to the same boy who lived down the lane, except now he lives in the same room!  We got married very young because we could not be apart any longer and now as of 4 days back, we have even grown as a family with the addition of our tiny 2 month old dalmatian puppies!

    Through all my facets of life, I’m ever-changing, but I always choose to live deeply and happily, laughing often, loving always and never looking back. While personality tests may not be the gospel truth, they are a great ally for some reflection into our lives!

The Business School community building starts with the cafeteria.

A blog post by Avani Natani (PGDM 2018-20- IILM GSM)

Have you ever wondered how a college would be without a cafeteria?

Exactly! A feeling of monotony strikes you with a grimacing face, how could someone just depend on mess food. But at the same time, the college cafeteria isn’t only about food or an excuse from the mess, it is much more than that. It’s a place holding a million memories that remain enshrined in everyone’s heart and soul even after we bid goodbye to our college but we carry along with those souvenirs of utmost happiness that remain fresh every time we think of college days.

It has rightly been said canteen is not just a place but an emotion where the probability of finding students is always greater than finding them in the classrooms. After all, it’s an easy way for the students to abscond from lectures to explore campus life. It’s also a respite from tedious long-lasting, and day-long lectures.  We have numerous reasons to believe that the college canteen is the best place for all. It’s a place where we see our student community being built up and the same is reinforced through love or hate or scuffle or debate. The sounds of everlasting conversations and gossip can be found echoing across the walls of the cafeteria.

“I have 50, you have 100”, perhaps only the canteen watches us silently what actual efforts we friends make to pool in for one appetizing and leisurely meal. Amidst all the chaos and disturbance this is the only place that every student finds comfort in all the projects and assignments related discussions. With every sip of tea, it somehow skips their mind how time is passing by, after all this is the place where bonds are not just created but are reinforced with every indulgence and conversation, shuddering the walls with their boisterous laughter.

No matter how strong your resolution of “Kal se fast food band”, the college canteen would break that too, as the aroma of paratha, chilly potato, cheese sandwich, samosa, and Maggi reach your nostrils.

Canteen is all about friends and foods the best duo anyone would ever come across. Be it an occasion of someone’s birthday, a treat from someone getting placed, canteen is always the perfect ambiance for such rendezvous where we brush aside all our hassles of monotonous and mundane life.  Be it Dominos or KFC, even a lavish dinner at Taj could not match the taste of that morsel of food that we snatch from our friend’s hand which is almost about to enter his mouth, and gobble them up. Fighting for that tiny morsel with our squad is indeed a true satisfaction.

Long after once they have left the college, this would be a place where they would shed tears remembering those precious moments with friends spent here.  Canteen culture is an important culture and an integral part of every college as it is not just a place to satisfy hunger but it also creates an environment for students to interact with each other, learn life skills, get along with each other, and finally become a family. The process of building the second family away from home starts from here.

 

 

 

 

Is Higher Education Necessary to Achieve Financial Success?

Perspective of a student –

During our childhood, we all must have heard from our parents and elders that if we study hard during our childhood, we will reap the sweet fruit of it during our later years of life, but we have many examples in front of us like Mark Zuckerberg who left the Harvard University without even completing his degree but still, he has a net worth of 10,680 crores US $. And one of the greatest examples will be of Steve Jobs, so today most of us will be proud and feel self-satisfied of having the latest model of i-phone with us but this couldn’t have been possible if back in 1997 a college dropout wouldn’t have “THINK DIFFERENTLY” approach and launched an entire series of iMac, iTunesiTunes StoreApple StoreiPodiPhoneApp Store, and the iPad.

Education is one of the important factors which might help us to decide our future goals and career paths to lead towards financial success in the future but it is surely not the most necessary component for creativity, innovation, and constructive disruption in society and most importantly for our financial success. The era of Industry 4.0 has demanded an immense need of technical skills which were not there in the existing fundamental formal education structure but since the New Education Policy 2020 came in, it signifies that how important IT and technical skills are, that the government has to include it in the basic curriculum of primary and elementary school children.

The current digital era has brought many new professions that do not require higher education. So even if we consider time duration of the long back but just recently a decade ago, people would have never believed that “vlogging” – making videos and posting them online – would be a future career option. Now, some vloggers pay the bills uploading YouTube videos alone which have given rise to an entirely new segment of “social media influencers”. Irrespective of whether you hold any degree or not it has no impact on your popularity.

Having a formal degree does not directly lead to a successful career. If we look into the current scenario most of the employers place a higher value on experience, which could mean volunteering, work experience, or general experience of life for selecting the best fit for their organization. With a mixture of skills, hard work, and luck, people will do just fine even without degrees.

Even in this era of the COVID-19 pandemic, we have seen a sudden higher drift in the demand of online Artificial Intelligence, Machine Learning based technical and behavioral competency-based skill-courses which are quoted as vital to survive and compete in the current job market. As been quoted in one of the recent advertisements that to progress in career, continuous learning and skill-building are also important apart from basic institutional education.

One thing is also clear that most people do not land up working in their dream job aligned with their education even if they have enough skills for such a job or work. Intensive research should also be a mandatory part of the curriculum to reduce the current skill market gap and make our present and future workforce being ready for jobs in the upcoming digital era which will ensure financial stability along with a wider knowledge base as well.

As per an article in Financial Express dated December 26, 2018, India had only twenty- one thousand publications during the last decade which seemed to stand nowhere in the global mark. India holds its heads high in some of the key areas like traditional healthcare facilities existing in Ayurveda and other ancient histories. To survive and get successful in the current globally cut-throat competitive market, we should try to adopt an appropriate mix and balance of our ancestral knowledge along with adding technological aspects to the same.

And all these courses demand deep learning and research on the subject area which can be learned through various sources but just limiting ourselves to textbook knowledge or few restricted sources will never help us in attaining the right results rather we should focus more towards attaining a proper balance of theoretical knowledge along with practical aspect into the same.

So to conclude we can say that formal education should be made mandatory but then it should be flexible enough to let a student explore the creativity, innovation, and technological aspects of themselves. At IILM where I study for my higher education, the nurturing environment has given me the flexibility and freedom to choose from a wide array of electives and soft skills to pursue my passion and creativity and be future ready.

Author – Harshita Jain

MBA, Year II – IILM University Gurugram

 

 

The Arab World and Israel – Is the thawing of ties real?

“Now that the ice has broken, I expect more Arab and Muslim countries will follow the United Arab Emirates’ lead,” said President Donald Trump on August 13th, 2020. Having earned his nomination for the Nobel Peace Prize for allegedly brokering the historic establishment of UAE-Israel diplomatic ties and possibly even the Bahrain-Israel deal as well, he took great pride in getting these done. These are rightfully a big deal, for the world, and the upcoming US elections.

UAE and Bahrain became the third and fourth Arab States to recognize Israel (after Egypt and Jordan). Now it’s a kernel of truth that Israel has informal ties with the Arab World, but to have official recognition and seal of approval is a big step forward given the conflicts in the past along with the ongoing Israel-Palestine issue.

The Arab world and others welcomed this move as a positive step towards stability in the Middle East. This step taken by UAE and Bahrain has come as a surprise given the timing of the deal. Just days before the deal was announced, Israel was leveling Palestine with airstrikes and bombs, so it is not surprising that the treaty was met with widespread condemnation and cries of hypocrisy from Palestine’s leaders, who saw this development as a betrayal.

Now the warming up of Arab-Israeli ties has been in the pipeline for some time, from the energy and weapons trade to diplomatic statements in support of Israel’s right to existence. Even  Crown Prince Mohammed of Saudi Arabia spoke about this https://www.nytimes.com/2018/04/03/world/middleeast/saudi-arabia-mohammed-bin-salman-israel.html. 

 

It is well known that any positive step towards Israel would have to be blessed by Saudi Arabia, especially when it comes to countries like Bahrain and the UAE. Given recent developments, it is only a matter of time when other gulf countries follow suit. Qatar, Oman, and possibly Sudan might soon recognize Israel and will support the 2 State Solution, given their diplomatic stature in the Islamic World as well as their well established economic and security-related ties with Israel.

 

One might be forgiven for being too optimistic and therefore labeling these agreements as deals of peace, goodwill, and development, but these deals might be opportunistic and strategic too. Israel and Saudi Arabia often disagree on many things, but given the recent developments in the Middle East, they have not hesitated to point fingers at Iran as the supposed benefactor of the region’s multitude of issues. With these developments, Saudi Arabia and others not only look to whitewash their conservative image and secure their economic and security-related futures with Israel but to also eliminate their Shia rival, Iran along with Hezbollah, who even Israel don’t take kindly at all, in the long run.

 

Given the global PR campaign that is being run by Saudi, they will jump at any chance to appear progressive and open-minded. And what better way to do so than to side with the Jewish State itself. Despite hosting school textbooks that often refer to Jewish people as “swines”, there has been a massive outreach program to the Jews, overseen by De Facto leader of the KSA, Crown Prince Mohammed bin Salman, to reform its conservative image into that of a modern one… a proverbial UAE 2.0. 

 

It is be noted that the Islamic and checkbook forms of diplomacy that were often employed by the Arab nations are no longer actively used in the building of their international relations and foreign image now. From snubbing Pakistan at the OIC to warming up to Israel, the Arab World has distanced itself from the rigid ideologies that characterized their image. It was either the Islamic connect or resource-rich trade deals that often brought about these relations. But given the tumultuous oil and gas markets along with the prevailing Pandemic conditions, those 2 policies have been defenestrated and a new and unfortunately desperate roadmap of “Follow the money trail” has been drawn up by the big shots of the Middle East. From strictly dealing with the West to now investing in India, actively dealing with Russia and South America, and politically and economic-wise, warming up to Israel and China respectively, massive steps have been taken by Saudi Arabia and other such countries to survive in the more liberal political climate today. With Saudi’s UAE-esque goal of diversification of revenue by 2030, the Arab Big Brother will look to go to any lengths to survive in this current scenario.

Having lived in the Middle East for 13.5 years, it certainly is a remarkably interesting prospect to see Saudi Arabia and the rest of the Arab World adapt to Israel and the liberal climate today. I always wanted the Middle East (that is dear to my heart) to stabilize and harmonize among themselves and mingle with each other and the rest of the world. The Middle East has much to offer other than stereotypes and oil, it is time for them to step up their game, and if they believe Israel can help secure their future, then more power to them. 

Palestine in this case may well be the losers as per these lines of treaties. As of now, the Arab World only has the word of Israel that it would not infringe on the areas of Gaza and West Bank, but only time will tell if they hold to their word, and this is important given how much importance Palestine carries for the Arab and Muslim World, especially Saudi Arabia.

 

Now although the Arab Big Brother – Saudi Arabia, may not officially recognize Israel any time soon, these changing perspectives that came about with their blessing, will help bring about some form of stability in the region, and hopefully, bring down the curtain on the Israel-Palestine issue (may the 2 state solution come about and end the violence). Despite the overarching questions and conspiracy theories, fruitful results come about with these new ties. 

 

Inshallah! Peace and prosperity shall prevail!

 

To know more and to apply for the Bachelor’s Degree program in Global History and International Relations at IILM University Gurugram, please visit www.iilm.edu.in

 

Kavin Ramesh Pillai

BA (Hons) – History and International Relations

IILM University, Gurugram 

Fundraising Spree on for Indian Banks

Profitability and NPA are the two extremes that need to be balanced for banks. Since a long Indian banking sector is on a continuous fight to draw a balance between them. Recently the Central Bank decided to take control over NPAs with a huge capital infusion into the banking sector. But the outbreak of COVID-19 derailed all efforts and the problems of NPAs have been resurfaced and touched the new height which seems to be very difficult for the Indian economy to stand with.

Stress in the Banking Sector

The Indian banking sector is reeling under stress for a long time. Indian banks have been tested over the past few years after the RBI forced them to review their assets under strict criteria that eventually resulted a surge in bad loans. To add their woes, borrowings have also slowed due to lockdown. These stresses are more apparent in state-run banks than in the private sector.

Reason for Stress

According to a few economists, the primary cause of this situation that has slammed all banks are the fall of IL&FS in October 2018 and the ongoing pandemic. India is expected to fall into a recession this fiscal year due to COVID, which has affected over 2.6 million people and caused 70000+ death in the country. It is the most discussed and worrisome topic in the Indian economical circle that there are chances of getting caught in the recession since 1979.

According to RBI, the ratio of non-performing assets total advances could soar to over 12.5% by March 2021 from 8.5% as of end-March this year, prompting the country’s central bank to push banks to raise capital, which now totals over 1 trillion rupees ($13.4billion). Additionally, the Financial Stability Report (FSR), noted the NPA ratio could jump as a high level as 14.7% in the event of severe stress.

Fundraising a Way out

RBI Governor advised all banks to improve their governance and sharpen risk management skills. Banks need to raise capital on an anticipatory basis instead of waiting for an adverse situation. It is necessary for both public and private sector banks to build up adequate capital buffers.

As a result, financial institutions are on a fundraising spree via debt instruments and equity offerings. The latest bank to join the fundraising spree is Axis bank which on said had raised 100 billion rupees by issuing shares to Qualified Institutional Buyers for INR 420.10. Other financial institutions, mortgage lenders, HDFC also closed a deal to raise INR 140 billion via various instruments. At the same time, the largest private bank of India, ICICI bank also wishes to raise INR 150 billion. Later State Bank of India, India’s largest lender also joined the league and announced to raise INR 250 billion to maintain its capital requirement. Not only banks but similar signals are also been sensed from Non-Banking Financial Companies which might have to raise money. In total, it is approximately $13 billion could raise to tackle the NPA challenge.

Governance

At present, Indian banks are in dyeing need for reforms. The Bank exposure to stressed sectors, loan-loss cover, and pre-provision earnings determine the urgency of their capital requirements, which is more pronounced for state banks. Recently 5 members committee has been formed by RBI under the Chairmanship of former CEO of ICICI bank, Mr. KV Kamath. This committee makes recommendations on the required parameters to be factored into the resolution plans. A resolution to the problem of the corporate debtor insolvency and its consequent inability to pay off debts. The committee will submit its recommendation to the RBI. The central bank will then notify the same along with modification including the restructuring of loans if any in 30 days.

Support from Government

Over the last five years until March 2020, India had pumped around 3 trillion rupees into banks to remain capital requirements. In the future, we may expect more infusion of cash from the government eventually to support the banks and consequently to save the economy.

 

Aditya Verma

PGDM 2020-22

IILM, Greater Noida

Dr. Kumar Saurabh

Asst. Prof-Finance

IILM Graduate School of Management, Greater Noida

Never too late for an International Degree…IILM offers Lateral Entry to Undergraduates

I seem to have made a wrong choice! I cannot adjust to my college/culture/country! I am feeling homesick! I am not studying anything useful!

If you identify with any one of the above statements, it is time to take a corrective action. A lot of such thoughts come to young students’ minds when they take admission in a program at a particular college in a different country, different state or even their own home state. So much goes into the college admission that many a times these young students feel stuck with what choices they or their parents have made. When these choices have been made for an international college, it becomes even more obligatory to continue given the time, money and efforts spent on it. But even a well thought out plan of an “international degree abroad” or that “Engineering college” or that “close to home college” decision may not work out the way it was expected to be. Should you then just carry on despite feeling disconnected from within? An undergraduate degree is perhaps the most life changing degree that one undergoes. These are the years that help you discover yourself and gain maturity and a direction in life. What use is that degree that does not educate you, does not help you become a better you, does not make you feel excited and motivated for a bright future? Should you continue in that place and college despite no longer being sure of the choice that you made?

But what happens to the time that I have spent at this college, what about the effort that I have made in studying and clearing my exams, what happens to the credits I earned? Does it all go waste and I have to start afresh? If these are the questions in your mind, the answer is a big NO! What you should look out for, is a college that will recognize your efforts and help you continue your studies without a break in your education. At IILM Undergraduate Business School, every year we get several such students who want to revise their initial decision of having chosen a college and an Undergraduate program but are not satisfied with it. You can transfer those credits and take entry into the second or third year and be part of a 25 year old legacy of the IILM Undergraduate Business School (UBS) that has trained thousands of young students like you and made them successful business leaders and entrepreneurs. IILM UBS helps you develop an unparalleled network, learn subjects that are internationally benchmarked, in a hands-on practical manner that prepares you for life.

So if your current course and college does not excite you anymore and you are looking for a reputed college in Delhi that will give you an opportunity to correct that decision, write to us at info.ubs@iilm.edu or call us at 9873949490. Our admission counselor will help you identify the best fit for you.

Prof.(Dr.) Kakoli Sen

STUDENT ENGAGEMENT AT IILM

Student engagement is a multi-faceted construct. It is better understood as a constructive relationship shared among the students, staff and the institution per se. The construct student engagement refers to “how involved or interested students are in their learning and how connected they are to their classes, their institutions, and each other” (Axelson and Flick, 2010).

It simply means to keep the students’ interactions more meaningful throughout the facilitated learning environment. Recognizing the differences among the students, varying issues from over expectations to under expectations are the challenges faced by Institutions. Paying much-needed heed to a topic that requires attention, it is highly essential to adopt a formative approach, targeting the needs of students. To address the issues in hand ABC Model (Attitude, Behavioral and Cognitive) of engagement is adopted, to make sure that more holistic approach is embraced and the students’ overall wellbeing is retained and enhanced throughout their academic life. ABC model works with a notion that the technical knowledge and the non-technical knowledge together can help students to engage and get ready for the industry. Research (Kuh, 2001) NSSE (National survey of student engagement) has identified five benchmarks of an engaged campus:

(a) Student interactions with faculty,

(b) Academic challenge

(c) Supportive campus environment,

(d) Enriching educational experiences, and

(e) Active and collaborative learning.

Understanding its relevance, IILM has continually worked on strengthening student Engagement through Behavioural Engagement, Emotional Engagement and Cognitive Engagement.

The present times have thrown upon us the challenge to constructively keep our students engaged, who are physically at distance and only connected through virtual platforms, through technology. But we at IILM have ensured that the spirit of Learning through engagement never gets dampened. Through a series of well planned, outcome-oriented, student-driven activities, we have kept the student engagement live and kicking. Whether it is activities like Buddy Connect, team Video Making, storytelling or for that matter Art therapy workshop, students have always got to experience being on the campus despite being away from it. Activities such as the first brush with making Video CVs, the curtain-raiser to Entrepreneurship, Social Media hygiene, have given them learning along with the opportunity to work with their seniors and peers.

While developing the framework for the student Engagement in the present times the approaches that are being adopted are –

  1. Enhance students’ self-belief — Students engage when they act as their own learning agents working to achieve goals that are meaningful to them. This means that what students believe about themselves as learners is very important. They must believe they can learn, including that they can overcome and learn from failure. Giving students some control over learning processes helps develop this confidence and commitment to learning. All our activities have been completely student-driven. Right from setting goals to drafting the timelines, the onus has been on the students, individually and as a team.
  2. Enable students to work autonomously, enjoy learning relationships with others, and feel they are competent to achieve their own objectives — “When institutions provide opportunities for students to learn both autonomously and with others, and to develop their sense of competence, students are more likely to be motivated, to engage and succeed.” Not unrelated to the first recommendation, the focus is to be on cultivating intrinsic drive, which fosters the self-determination that leads to engagement. We have deliberately put students from different schools and different programs and kept the teams heterogeneous.
  3. Recognize that teaching and teachers are central to engagement — Much research places teachers at the heart of engagement. For example, one study found that “if the teacher is perceived to be approachable, well prepared, and sensitive to student needs, students are committed to working harder, get more out of the session, and are more willing to express their opinion.” No matter how self-driven and motivated the students are, they always have the assurance that they have faculty support always there, just a call away. For all they need is just some reassurance and some confidence building.
  4. Create learning that is active, collaborative, and fosters learning relationships — “Findings acknowledge that active learning in groups, peer relationships, and social skills are important in engaging learners. The bond that develops among students, while executing the team activities and complementing one another, is the most engaging aspect of the entire program.
  5. Create educational experiences for students that are challenging and enriching and that extend their academic abilities — Easy learning activities and assignments are not as effective at engaging students as activities and assignments that challenge them. When students are reflecting, questioning, conjecturing, evaluating, and making connections between ideas, they are engaged. “Teachers need to create rich educational experiences that challenge students’ ideas and stretch them as far as they can go.” With each engagement activity, student learning levels are raised, to become more challenging and thereby, calling for a higher level of effort and involvement.
  6. Ensure that institutional cultures are welcoming to students from diverse backgrounds — to become engaged, we believe students must feel they are accepted and affirmed. They must feel they belong to an institution. Heterogeneity in teams equips them to learn and appreciate diversity and at the same time gel into the institutional culture.
  7. Adaptive to changing student expectations — in the current scenario of the changing face of learning and expectations, as an institution, we have done a lot of discussion and deliberation on how to promote student engagement.
  8. Enable students to become active citizens — We understand that the need of the hour is a democratic-critical conception of engagement that goes beyond strategies, techniques, behaviours, a conception in which engagement is participatory, dialogic and leads not only to academic achievement but to success as an active citizen. The subjects that were picked by students to make videos in teams were reflective of their sensitivity towards the society, environment and the world we live in.
  9. Enable students to develop their social and cultural capital — this kind of capital derives from a sense of belonging, from active relationships with others, and from knowing how things work around the institution. It essentially focuses upon the need to be successful not only in the classroom but beyond it as well.

The idea is to keep it simple and bring the engaged learning forward. The way we engage today lays the foundation of the society that we plan for the future because the students today need to be socially responsible citizens of tomorrow. A positive engagement sets the framework of a society that takes pride in itself and its ability to take all challenges, seen and unforeseen in the true spirit and zeal.

Please write to me at tripti.toor@iilm.edu for more information on student engagement at IILM.