CASHLESS TO CONTACTLESS PAYMENT: COVID-19 SPREAD

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In this era, where the entire world is suffering from COVID-19 pandemic, cash is no longer a king. According to WHO (World health organization), the novel corona virus may spread through cash payments, debit Card and credit card payments. As per a scientific paper published, the virus outbreak found the virus can live on cardboard for up to 24 hours and up to three days on plastic and stainless steel. Banknote avoidance is happening in the U.S., South Korea, Japan and Iran. Germany is the cash loving economy and it has also switch to contactless payment. In India when the corona virus is still in the early phase, this is the right time to adopt the contactless payment as compared to cashless payments. Hence, it becomes essential to promote contactless transaction as compared to currency notes or cashless transactions.

CASHLESS VERSUS CONTACTLESS PAYMENT: 

Mostly people take cashless and contactless payment as interchangeable term. But there is lot of difference between cashless payment and contactless payment.

Any type of payment that is made without using cash is considered as Cashless payment methods. The examples are credit card payments, Bank transfers, debit card payments, mobile payments, and digital wallets. To complete the cashless purchase, the customer doesn’t need to have any cash.

Contactless payments are those where debit cards or credit cards that either use near-field communication (NFC) or radio frequency identification (RFID) technology. In contactless payment, no PIN or signature for card is required to make the payment — you can simply tap and go. One needs not to do swiping or inserting your card in any POS machine or ATM, you simply can just wave the card near the reader to complete your payment.

RBI INITIATIVE FOR CONTACTLESS PAYMENT:

In our dream to build a feasible digital world and to come alive, wireless technologies always have a critical role to play. In India, we have reached to the next level of innovation in fintech domain. Any full proved payment method should have following three features:

Accessibility and interoperability: Accepted anywhere and offers multiple uses

Convenience of transaction: Clutter free smooth gesture, like tap and go

Speed of transaction: local secure processing with batch synchronization.

The Reserve Bank of India (RBI) took the first step in 2019 to promote contactless payment. Now for transactions less than Rs 2,000, the customer can do a payment within a fraction of seconds.

CONTACTLESS CARDS IN INDIA

  1. Mastercard Tap & Go: Mastercard offers Contactless Credit  card or Debit Card partnering with almost all Indian Private and PSU banks.
  2. Visa payWave: Visa PayWave also offers Tap & Go contactless payments and the card also globally accepted.
  3. Rupay Contactless Card: Developed by National Payments Corporation of India (NPCI), It is an Indian alternative of global card issuing brands such as Visa or Mastercard.
  4. Paytm- Contactless Card: Paytm also offers a Contactless payment card, named as Taptopay. The card can be issued at designated venues at the time of ticket purchase or online tickets on Paytm.
  5. National Common Mobility Card (NCMC): The NCMC card is a Debit or Credit card that can be used to make payment for transport anywhere in the country, like Metro, Bus, sub-urban railways, toll-plaza, parking, etc. Ministry of Housing and Urban Affairs (MoHUA) has released Contactless smart card launched on 4 March 2019. NCMC is maintained by National Payments Corporation of India (NPCI) and it is also Rupay Powered. The RFID reader is developed by Bharat Electronics Limited (BEL) and NCMC is also partnering with Indian Banks.

CONTACTLESS PAYMENTS APPS IN INDIA

Contactless Payments Apps work similarly to contactless Debit or Credit card, where you don’t have to carry physical cards, instead your smartphone works as your Contactless Payment Card. Currently, Samsung Pay is technically the only App operates using the near-field communication (NFC) Payment technology. However there are few more Contactless Payments Apps in India you can install on your smartphones.

  • Samsung Pay
  • Google Pay
  • Pockets by ICICI Bank
  • Ultracash
  • PhonePe
  • Mobikwik
  • Yono by SBI
  • HDFC PayZapp
  • BHIM Axis Pay
  • My FASTag App

Contactless Payments can turn the face of India’s Digital Payment Systems. The question comes that how will you know that your card is supporting Contactless Payments or not. In order to identify, you will find a symbol similar to Wi-Fi at any side of your Debit or Credit Card. Indian are still depending on physical cash for doing Low-Value retail transactions. With the acceptance of several Contactless Payments Apps and Govt. of India’s thrust on the “Digital India” campaign, we definitely expect a low spread of COVID-19 in our nation through currency.

Design Thinking : The 5 Stages

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Uncertainty abounds nowadays- wars, oil prices, pandemics, start-ups – acting as challengers and disrupting businesses; during such times, being conscious of sustainability and ‘Design Thinking’ redefines business models.

The uncertainty constantly challenges businesses to review and rethink their focus, their business, and most importantly their survival. In such a state of complexity, there is possibly a need to question the basics and revisit the obvious, and that is where design thinking comes in. It offers a thinking approach to redefine all of this in a more human-centric manner.

So what is design thinking? It is purely being more humane and empathetic with the belief that the end-user is at the heart of all decision making

Design thinking is a process which integrates critical thinking, cross functional collaboration, empathy, iteration, & curiosity to deliver breakthrough-outcomes. Companies are increasingly leveraging design thinking to achieve quantum growth.

The thought process while starting with a consumer centric approach also has to pass through the test of technical viability and business feasibility.

The 5 stages of design thinking are-

Stage 1 Empathize – Research the Target Group-User (TGU) needs

We have to set our assumptions and biases aside when we investigate the possible problem that is being attempted to be solved. We have to immerse ourselves in the context of the problem and possibly talk to TGU, who faces it, and speak to the possible experts and even look at similar challenges faced by, and solutions of, diverse businesses.

There are ways to understand the same, namely, FGD, Focus Interviews, Storytelling and Empathy maps. Empathy maps are particularly useful as they map what people say, do, think and feel in the context of the problem. “Observe & Hear Closely”. It allows us to understand how people feel, behave, and experience the problem and possibly how they might see a solution.

Stage 2 Define – The needs & problems of the TGU need to be defined

The insights gathered need to be summarized in a “human-centric” problem rather than business goals. This can be done by identifying the frustrations and challenges that people face through empathy maps, and how people are solving problems and what we need to do for them to find newer and easier solutions to overcome their frustrations.

To exemplify, rather than defining how to get a 20% increase in online sales of juice in Gurgaon, maybe we need to understand the consumption pattern of a health-conscious consumer, which could mean that consumers looking for healthy food may need to be educated on the meaning of ‘health’.

Stage 3 Ideate – Challenge the Assumptions & Evolve ideas

Once the problem/pain-points are identified it is imperative to start ideating and brainstorming the possible alternatives and evolve ideas. Prioritize the breadth rather than depth while developing ideas, as we need to solve a larger range of challenges. The focus needs to be on developing ideas which lead us to formulate prototypes & test the hypotheses.

So basically ideate and evaluate, and sketch your ideas and brainstorm in order to develop possible metrics against which to assess them. A good way to evaluate is to put ideas on the table and ask for a vote.

The ideas post evaluation with maximum votes are put through a prototype test.

Stage 4 Prototype – Start by Creating Alternate Solutions

This is when the idea identified gets a physical form. The same is defined and put through a paper test where a ‘what-if’ analysis could also be done. This helps to ensure that significant gaps are debated on and plugged before the prototype is put through a test. The prototyping stage should be a realistic discussion on what will work and what will not and changes are incorporated in a circular and iterative process, until there seems to be a workable structure. Maybe at this stage it is a good idea to put multiple test cases in discussion as that allows the breadth of possible solutions.

Stage 5 Test – Test the Solutions you feel are the best in ground situations, simulations, pilots

This stage could be considered to be an extension of the empathizing stage .This stage helps to understand in more detail the pain-points of the TGU and explore if the possible solutions being offered are really giving the desired outcomes, those which really help TGU change their behavior or take different decisions towards finding solutions. The answer to gauge is whether a significant impact has been made. It is important to get a feedback; there are various ways in which companies seem to be doing it – simulations, pilot test markets, test groups.

The objective is to put the best possible ideas forward and be open to critical feedback towards finding the right possible solutions. In fact this stage may even reveal that the problems identified and/or solutions proposed were not determined correctly.

Design thinking is an intimate way to get to know the TGU and problem definition better, so that the possible solutions to identified problems have a higher chance of success.

Questions to reflect

  1. Do companies succeed with design thinking ?

-Yes they do. Some examples of successful deployment of design thinking are listed below-

https://hbr.org/2015/09/how-indra-nooyi-turned-design-thinking-into-strategy

https://www.bbva.com/en/airbnb-design-thinking-success-story/

  1. But do companies nowadays “really” use this approach and do they spend enough time in each stage before formalizing a launch or a solution?

-We see a lot of initiatives-launches which did not work due to incomplete efforts in stages of ideation, prototyping and testing…(discuss)

  1. Maybe design thinking approach is one of the reasons why Reliance Retail and Jio are hyper growth platforms?

A Ray of Hope amidst the COVID – 19 Crises

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The world is witnessing and fighting its worst pandemic from past 3 months. Public is scared, policy makers are looking for desperate regulations and measures, basic service providers are doing extra time and doctors are exhausted completely. We have no other option but to lock down ourselves and the entire community.  Everything around us look pessimistic, gloomy and sans hope. But wait are we humans not the species who can find silver lining in the most dreadful situations? Yes we are and there are silver linings in the Corona Virus as well.

Back to Human basics

The virus has clearly shaken us however, ensures we must appreciate the luxuries we got, abundance of products, freedom and health which we were taking as granted. We all were lost in mundane busy-ness and have no time to appreciate the most basic things. This corona virus made us realized the relevance of actually important possessions of human life- the love of family, the stories of elderly, appreciating the moments shared with our partners, the role of community and most important a time to reevaluate and reinvent ourselves. We are also reaching to our basic habits of washing hands and feet when coming from outside, changing immediately the clothes once we are back home, greeting people with the famous Indian Namaste.

Healing the Nature

The whole world is witnessing the healing process- when humans are retreating nature is returning.  Institutions and entertainment places are shut, tourist spots are without people, fewer vehicles on roads – Sounds bizarre but the results are great. Pollution level across the world has come down in many metropolitan cities. The Air Quality index is below 150 in Delhi, water bodies are cleaning, dolphins are returning to the coast in Venice, swans can be seen in canals instead of Gondolas, otters are roaming freely in Singapore, Egyptian geese are on tarmac in Israel, penguins taking strolls in aquariums of Chicago, coral reef healing in Australia, deer and monkeys coming back to streets in Japan and Thailand. Nature is thriving when humans are quarantined. The indications are clear -mother earth is sending us the signal which we must understand that humans do not own earth, they co-exist here. Cohabitation is important and humans cannot put life of other living beings on earth at stake. The corona Virus made us thinks that we must preserve our natural habitats, do not overuse the resource and if we cannot do the same on our own then, nature have its own extreme means.

 Corona Virus must be thanked for making us undermine every material aspect of this world and giving us a chance to build the world from inception. It could be observed around us that we are connected not only physically but yogically as well. The time has come to view the world and our existence from a newer perspective and the survival is based on the perspective we will choose.

Associate Professor Economics and International Business, IILM University

Reinventing Pedagogy

Faculty, General Blog, IILM University, , , , ,

Reinventing  Pedagogy

Every challenge is an opportunity, they say. I cannot begin to imagine how a deadly virus could be a game-changer for the humanity at large. These are trying times for all of us, but we need to accept that what began as an alternative approach to ensure business continuity is most likely to become the new normal. COVID-19 has brought along a reality check – that education technology that delivers prodigious content and engages students and teachers has never been more vital.

Corporates have been using online video collaboration platforms to keep business going, but for an industry like Education, this is the time for upskilling in a way that we continue to provide learning opportunities and other critical services to our students. This is the time to reflect and think beyond the challenges of the next few weeks.

Today there is an application for just about anything in education. A lot of us are deploying the best in AI, VR and AR and they are demonstrating the power to serve as a teacher in cases where students need to be isolated. However, we should not need a crisis like COVID 19 to rethink how education can function; because students, no matter where they are and how old they are should be able to make their way through their education and work journeys with the benefit of superior technical innovations that can more seamlessly identify, respond, correct and expose them to deep learning.

Let’s hope that when COVID-19 is in our rear-view mirrors, the innovations and technology that is helping our students today, continue to offer adaptable, online formats to educate our bright young minds. We should focus on developing our online infrastructure and have everything available to us and also because it’s not complicated. We need to change the age-old structure of imparting high-quality education that requires a face-to-face format.

While we wait with a lot of uncertainty for now, but there is always light at the end of the tunnel. Let’s keep moving forward with all the resources that we, fortunately, have with us. Let’s together fight and emerge more stronger and consistent, because this too shall pass…

 

 

 

 

 

 

 

Employment Taxes Internal Revenue Service

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accounting for payroll taxes

Mark any checkboxes that are appropriate for this employee. If the employee is a nonresident alien, mark the Nonresident alien checkbox, and if the employee is tax exempt, mark the Tax exempt checkbox.

IRS Warns Taxpayers on False Employee Retention Credit Claims – Bloomberg Tax

IRS Warns Taxpayers on False Employee Retention Credit Claims.

Posted: Fri, 21 Oct 2022 08:55:14 GMT [source]

You just enroll in the Electronic Federal Tax Payment System , then make your payment online. It’s the only way to make a payroll tax payment (mailing checks isn’t allowed). Combined, the FICA tax rate is 15.3% of the employee’s wages. This is the employee’s total earnings from all income sources prior to any deductions the employee is eligible for. Add lines 1b and 2a to find the amount to withhold from the employee’s wages and record it in line 2b.

How to calculate accrued payroll

A payroll tax cut would mean that less Social Security and Medicare taxes are withheld and taken out of paychecks. The idea is that workers and businesses would take home a little extra with each paycheck and that would encourage them to spend more and stimulate the economy. Payroll can also refer to the list of a company’s employees and the amount of compensation due to each of them. Payroll is a major expense for most businesses and is almost always deductible, meaning the expense can be deducted from gross income lowering the company’s taxable income. If you’re overwhelmed with the many aspects of learning how to do payroll accounting, you’re not alone. It’s important to choose a quality accounting program that will make documenting transactions easier.

  • She has also worked in desktop support and network management.
  • Withheld amounts represent liabilities, as the company must pay the amounts withheld to the appropriate third party.
  • The result was that several of its top executives went to jail, committed suicide, or died from heart attacks when the fraud was discovered.
  • Small business owners benefit from accounting software because it helps them track accounts receivable and accounts payable, gauge their profitability, and prepare for tax season.
  • Identify the major provisions of the Fair Labor Standards Act and how each affect minimum wage and overtime.
  • She has worked in multiple cities covering breaking news, politics, education, and more.

The deductions from the employees are entered on the balance sheet as payables under current liabilities. Before exploring the journal entries and financial statements, net pay is calculated, because it’s a part of the entries and statements.

Accounting Topics

Small, midsized or large, your business has unique needs, from technology to support and everything in between. https://www.bookstime.com/ See how we help organizations like yours with a wider range of payroll and HR options than any other provider.

accounting for payroll taxes

Sage 100 Contractor Accounting, project management, estimating, and service management. Accounting Native-cloud accouting software for small business. Learn how to electronically file your employment tax forms. Let’s work through a fictitious example for the Elephant Store, LLC, which has two employees.

Payroll Tax Expense

In other places, the responsibility of paying payroll taxes is entirely handled to employees on an annual basis; and in some other cases a mix of these two methods is used. The accounts that you need to set up to track payroll will generally be an expense account or a liability account.

You can avoid accruing vacation and sick time — and paying departing employees for unused time off — by adopting an unlimited PTO policy. Outline the importance of a payroll register and employee earning records. In the State withholding section, enter state withholding information. Other than payroll accounting the State field, the fields in this section vary by state, because they are based on the fields for each state’s W-4 form. If the employee is eligible for earned income credit, select their EIC status from the drop-down list and, if applicable, mark the Spouse has form W-5 in effect checkbox.

Credit the FICA tax payable, federal income withholding payable, state income withholding payable, and any other withholdings on employee paychecks. You must deposit federal income tax and Additional Medicare Tax withheld and both the employer and employee social security and Medicare taxes. You also must report on the taxes you deposit, as well as report wages, tips and other compensation paid to an employee.

accounting for payroll taxes

Calculate the amount you will owe for the employer portion of FICA taxes and set this aside with the employee portion of these taxes. Federal income and FICA taxes are sometimes referenced as “941 taxes” because they are included on the IRS Form 941, which is the quarterly wage and tax report. IRS is offering coronavirus relief to taxpayers and many businesses will qualify for two tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit. It ensures that all citizens are judged equally based on their income. Let us assume that Gemma works for Black PLC. As of March 31, 2022, her annual salary is $60,000. Now, calculate the payroll tax contribution deducted from Gemma’s salary .

Payroll Accounting Journal Entries

Before examining the expense portion of the income statement, remember only taxes and deductions that the employer owes are included on the income statement as expenses. The payroll expenses are shown on the income statement with actual numbers. The other expense accounts have xxxxxxx instead of numbers. You’ll notice I’m not accruing anything for FUTA and SUTA, two employer-paid payroll taxes. That’s because both taxes usually fizzle out early in the year for full-time employees. FUTA only applies to the first $7,000 of an employee’s wages, resetting every January. Federal Insurance Contribution Act taxes support the federal Social Security and Medicare programs.

SPORT-O-MANIA-2019

SPORT-O-MANIA 2019

Campus Life, Events, Faculty, IILM Stories, IILM University

14th March, 2019

And here we go, coming in one of the most exciting and most entertaining collegiate of sports event, SPORTS-O-MANIA 2019 as part of MOSAIC, the annual festival of IILM University. SOPRTS-O-MANIA is the best platform for the sports enthusiasts to showcase their talent and discover their true potential for sports.

The trill, sportsman spirit, the competition, the stress, the outbursts, the friendships and of course the beautiful memories and lots of fun, it was the perfect package.

The entire first day of mosaic, 2019 was devoted to myriad of sports events. Preparation started good number of days before the D-day and the entire college converted into sports ground. Everybody feels sporty, light and active. The volunteers even wore IILM T-shirts to keep the spirit on, and at the same time cheering up for the IIL M teams.

The action began soon after the lamp lighting by the student core team members and the management on day 1, with the massive crowd thronging at the basket ball court, loud and proud cheering up for the home teams and to witness the first event of sports-o-mania. Once the matches began, the air was filled with cheering and tons of encouragement for the teams.  This was just the beginning; the sports club had planned lot more the entire day.

Large number of teams from other colleges participated, setting the whole energized and competitive atmosphere. The spirit to win was seen everywhere and the whole atmosphere seem electrified.

The basket ball tournament ended in a heart break in hard-fought loss in the finals to the champions from North Campus University. While in table tennis, carom and slow cycling, our IILM teams blew out their hapless opponent in a lopsided victory.

And as soon as these games get over, quick prize ceremony began. And then, the most awaited event began fun cricket, where maximum participation took place. With some twists and new rules and regulation this soft ball tournament, in this sports both boys and girls showed their spirit. The entire tournament was on knockout basis and each team showed passion, energy and aggression to qualify for the next level. Everyone showed their skills in form of batting and bowling and the huge sixes, amazing strokes and rattling of stamps. With semis into the play, high pressure moments and the joy of winning on faces of team members were visible to everyone. The final match, the ultimate game was reserved for the next day where both the teams from Pg 1 batch played and ‘IILM Warriors’ stood victory.
With all the matches getting over and the victors decided, everyone waits anxiously for the prize ceremony. Where all the winners and runners up were applauded with trophies, medals certificate and of course cash prizes.

The event ends on the note of thrill and excitement bidding good bye to the day.
This time Mosaic’19 raised the bar even higher, with close games, sportsmanship, enthralling performances and overall good vibes, giving all those who attended good two day to remember.

Contributor: DIVISHA AGARWAL (MBA 2018-20)
Faculty Coordinator: CA. VISHAL GOEL


How to Mindfully Develop Your Self-Confidence

Career Development (Placement), General Blog, IILM University, , , ,

Why focus on self-confidence?

How many things in your life would you be doing differently if you were thinking and acting from a place of deep self-confidence? The capacity for authentic self-confidence offers many benefits, for example we become more creative and expressive, we find access to greater capacity for focus, mental stamina and energy, we experience greater peace of mind, and we experience life as fundamentally enjoyable and playful.

What is self-confidence?

We will all have our own ideas of what self-confidence is, but the definition I normally work with (following Nathaniel Branden’s definition of self-esteem) is that self -confidence consists of two distinct parts:

  • Self-worth – The belief that I am worthy of happiness, pleasure, enjoyment, well-being, success & so on and..
  • Self-efficacy – The sense that I have the capacity to be successful in the face of life’s challenges. Even if I currently lack the skills to be successful in a particular task, self-efficacy is a confidence in my ability to learn those skills as and when necessary.

If you lack a fundamental sense of your self-worth or of your capacity for self-efficacy, then your self-confidence is going to be built upon shaky ground!

Mindful methods for developing your self-confidence:

With the above definitions in mind, we can then start to adopt a multi-faceted approach to developing self-confidence, here are a few suggestions:

1. Connect and nourish your present self-confidence – No one completely lacks self-confidence, look for times and places in your life where you have felt and experienced self-confidence. Revisit them mentally, take an inventory of them, recall how it felt. Then look at how you can translate those experiences into feelings and attitudes of self-confidence in the face of your present life challenges.

2. Know what self-confidence feels like in the body – Practice holding your body and feeling it in a way that communicates confidence and self-assurance to your mind. Our posture is often communicating all sorts of messages to us psychologically, so we need to take advantage of this rather than being victimized by it!

3. Make friends with the parts of you that are not self-confident – As the famous Gestalt therapist Fritz Pearls said ‘As long as you fight a symptom it will get worse’ (I recommend meditating on that sentence for a long time!) Open to and get close with your fears, your vulnerabilities, the parts of you feeling fragmented. Care for them, experience them, open to them, allow them to become the basis of your self-confidence, rather than the things you are trying to escape from by developing your self-confidence. This needs careful thought, reflection and experience to understand, but it is super-important to get right!

4. Find role models for your self-confidence – Find real life examples of people who are appropriate and inspiring role models for the type of self-confidence you want to have. Study them carefully and draw conscious inspiration from them.

5. Do something each day to engage your self-confidence – Do something manageable each day to test and develop your self-confidence experientially and in real-time.

6. Practice mindful framing – ‘Last month I was depressed, and this month I’m still depressed’ sounds like a bit of a failure. ‘Last month I was very depressed and although this month I am still depressed I feel less depressed, and there have been days when I have actually felt good’ sounds like progress and a cause of boosting our self-confidence. How we frame what happens to us mentally is crucial in terms of whether we experience something as supporting our self-confidence or not!

Conclusion:

If you want to make this article a practical exploration, you could take one of the above six suggestions per day as a point of mindful focus for the next three weeks or so. See where it takes your own experience of Mindful Self-Confidence!

Giving “Grey”​ a Chance !!

Career Development (Placement),

The toughest thing to deal within life aren’t the mistakes we do or even repeat, not even the heartbreak or obstacles we face, the toughest thing to deal with is our own rigid attitude towards things, people and situation.

We expect everything to be either black or white, whereas the color grey wins it all at the end of the day. A coin has two sides, and both sides defines it’s value, a day comprises of morning, as well as night hours, and both together makes up a day! Similarly any person, thing or situation always holds two perspectives which together mark their existence.

It is not important what do they bring for us, what stands important is what we ask of them. They will anyway offer what they have got to offer; we need to be careful and sensible of how we accept and then what we choose. But our acceptance shouldn’t be for either black or white, we should always find place for the color grey. Good will be accompanied by bad and bad would always exist in order to make us understand what good is.

Accept it all, and then choose wisely what seems more convincing for you. Accept the person, thing our situation completely with all the existing black and white, let them blend and be grey, then choose whether you would want a shade darker, or a shade lighter would do. As that would define it all.

Dealing Mindfully with Anger and Conflict in your Relationships

General Blog, , ,

Dealing Mindfully with Anger and Conflict in your Relationships

How can you deal more effectively with anger and conflict in your life? Here I am referring specifically to the anger and conflict that you experience in your outer relationships with other people. Below are some pointers for becoming more mindful in this area. This in turn will then naturally start to suggest practical ways you can be more successful dealing with the challenges presented.

  • Observe the way in which you currently experience anger and conflict

Ask yourself the question: What is my current relationship with anger and conflict, both within myself and into relationships?
Bring to mind a time when you have been angry. What happens when you get angry? How does your body start to feel? Practice mindfully creating anger in your body and mind, and learn to relax into it, without being panicked by it or forced into a reaction. Get used to holding anger in your body comfortably, letting it flow.
Similarly, bring to mind a conflict you have in your outer relationships right now. Observe how you feel in the face of another person’s anger, disapproval or aggression. Practice mindful holding your own space and breathing with the experience of conflict, so that when it happens in real-time, you are not panicked or intimidated.

  • A working definition of anger

‘Anger is a powerful emotion centered around issues of justice and fairness’. In its negative expression it is incredibly destructive and dangerous. In its positive expression it can be a powerful cause for order, justice and good in the world. ‘Positive anger’ might be thought of as simply the benevolent expression of justice and fairness in the face of malevolence or aggression. There is a lot to be gained from working to transform your own negative anger into positive anger.

  • Working with conflict in your relationships                                                                                                 Once you have done a little contemplation around Point 1 above, here is a short exercise you can apply to any relationship you may have where there is anger and conflict. Firstly, consider the situation from three perspectives –
    1st person – I/mine/ours – What is happening in this situation from your personal point of view? What are you feeling?
    2nd person – the other(s) – What is the other person/people experiencing? What do you start to see if you mindfully take their perspective for a period of time?
    3rd person – It’s, objective – What do you start to see if you take a more objective/detached point of view, outside of all the personal stuff?

Based on your insights from these three perspectives then decide ‘Am I going to’:

  • Change myself/adapt to the other person/people, (maybe not worth the hassle to confront?) or
  • Try and change the other person, or take a stand for what I feel is right (genuine issue if justice, and or ‘worth it’)?

Finally, having made your decision, strategize! Use your natural intelligence to come up with a way of approaching the relationship conflict, communicating skillfully in a way that you think is going to give the best result!

Experiment with small conflicts
Small and relatively insignificant conflicts are great places to start working with the above methods. Finding ways to gently work with conflict, anger and confrontation in minor situations helps you build the skill and confidence so that when something big kicks off, you are able to hold your own and enjoy learning how to articulate your own power in relationship conflicts.

 

 

INTERNATIONAL B-PLAN CHAMPIONSHIP @ IIM KOZIKHODE

Events, Faculty, IILM Stories, IILM University, ,

New year bought new and unparalleled opportunities for some of the PG1 students where they got a chance to visit the top management institute of India i.e. IIM KOZIKHODE.

Later in the pervious year a workshop on personal branding & entrepreneurship skills was held in collaboration with Makeintern in IILM Gurugram campus itself where almost every PG 1 student participated.  Top 5 students were selected to further represent our college on national level, those students were Akshat Tyagi, Atishay Sobti, Radhika Mishra, Riti Sharma and Simran sarna from PG 1st year.

So under the guidance of  Vishal sir, team was all set to participate in 6th International B-plan championship by Makeintern which was to be held at IIM Kozhikode. Every year teams from reputed B schools come and participate in this event. This year teams from 50 Bschools from all over India came all in, and one such team was from ours i.e. from IILM University.

The dates were finalized i.e. from 1st feb till 4th feb and our team was all set to fly to IIM K with their B-plan model on IWMS i.e Integrated waste management system named BinTraq . Kerela surely a tropical paradise and to add on to that the campus of IIM K was like its own little world situated away from the city and on a hill top and one could see the city lights from above.

Day 1 at IIM k was a magical concert night with legendry musical duo Salim-Sulaiman. It was a good time to break the ice and interact with other teams as well as with the students of IIM Kozhikode, for that moment everyone forgot that they came for competition and was enjoying the moment all together.

The next day was the first round of the competition in which each team was given 5 min to pitch their B-PLAN to the jury followed by the questions from the jury itself. There were in total of 50 team from reputed B Schools and our team from IILM university qualified the first round. We were among the top 16 teams that qualified for the next round which was really a proud moment for the students of IILM university.

The final round was the brief explanation of your b-plan, every team gave a tough competition to each other. Some teams even bought the working model of their business model and some even made detailed videos. This time each team was given just 10 min to briefly explain their business plan.

At the end of the day results were announced and top 3 teams were picked which was from Pune, Hyderabad and Bhopal. Our team didn’t come in top 3 but we got appreciation from panellists, it was a good exposure for the us, and next time they will come back stronger for the competition.

We would like to thank the faculty coordinator CA Vishal Goel sir for helping in organising such a wonderful event and for being a torchbearer for the students during the course of the event. Such opportunities really help students to get out of their comfort zone and explore the world outside their college.

Contributors:                                                                                                                      Faculty Coordinator:

PG1 2018-2020 Batch                                                                                                                 CA. Vishal Goel

Riti Sharma, 

Akshat Tyagi