An Ideal Law School

The question that most frequently crosses our mind while selecting a college to pursue our higher education in law is what we need and what they offer? An ideal Law college should be a paradise land offering a mock of the entire life ahead of every budding lawyer. It is paramount to understand that a lawyer is not only the one who practices the law. Instead, a lawyer is expected to preach its values and propagate them in society. This brings us to the foremost value every budding lawyer searches for in a law school, the quality of being able to be good. Law school should focus on the speaking abilities of every law student, even of the ones sitting in the corner of the class. To polish this skill, law school should regularly engage their students in moot court competitions, panel discussions, debates, and classroom interactions. The use of these practices makes the students confident to face the world with much ease.

The second virtue a law college should offer is the opportunity to let the young minds speak, write and publish. An ideal law school is the one that pushes all its students to contribute towards the law journals of the college and also help them build up their research skills to enable them to publish their works in other journals. The next essential trait a law student looks for in a law college is its ability to offer internships and placement opportunities. Law school should also focus on co-curricular activities apart from the regular law classes, which will ensure the student’s overall growth. For the overall growth of students, the students should be able to stay in touch with their teachers even beyond the classroom and college years. The professors and mentors should establish healthy relations with the students or a system that offers continuous mentoring of the students by following some unique mentor-mentee system. In addition to this, any law school that follows the Socratic method of teaching will raise the more analytical and intellectual lawyers. That involves complete participation of the student in the learning process, whereby he gets the freedom to ask questions and the confidence to raise his voice.

So an ideal law school should follow a student-centric approach, keeping in mind that a law student is not made a lawyer only by reading the books, instead what he experiences throughout the law school. A student becomes a lawyer with all the experiences he/she shares with his/her fellow students and mentors at the law school.

A Cross Cultural Perspective on Child Rearing – Student Blog – Ritwik Khurana

 

Parenting is regarded as one of the most challenging tasks for a person to take up. It requires patience, understanding, unconditional love and support. There is a quote that states “A single tree cannot grow a variety of fruits”, which implies that a person cannot possess a multitude of qualities to sustain a desirable life. But how does this translate to parenting?

There have been many stories of children who reminisced the times spent with their mothers and fathers, whereas there also have been horror stories of childhood abuse and parents who neglected their children. But overall, on average most children can provide a testament to having nostalgic and vivid childhood experiences in their adulthood. Parenting requires a person to possess the same multitudes of qualities as mentioned above, which proves this statement wrong. Humans are complex, are prone to lapses in judgement but are capable of possessing a variety of desirable and positive traits.

Universally, the challenges of Child rearing are very similar but differ in practice according to one’s culture. In todays Blog post we will try to understand the impact of parenting styles on Child rearing and mainly the cultural differences between Eastern & Western Child rearing practices. Diana Baumrind (1950s) revolutionized the existing thoughts on parenting by introducing 3 types of parenting styles, which are; Authoritative, Authoritarian and Permissive. Now let’s apply these concepts on Eastern & Western Child rearing. Countries like India, China and Vietnam are often recognized as truly Asian, because of their strong collectivistic values.

Indian parents are often typified as being “Authoritarian”, being too controlling and worried about their child’s future. This is often displayed through “High academic expectations” where these parents force their children to pursue excellence in studies and co-curricular activities. China also follows a similar model, barring cultural connotations. This attitude of parenting often stems from an excessive reliance on communal image and personal goals at the parental end, which harms the emotional and cognitive development of children.

The strength of cultural conformity and family bonds has even extended the authoritarian rights to neighbors and other adult members of the society. This often causes problems among the younger members of society, who require deserved autonomy in their youth. But on the other hand, the youth are usually well supported by their parents – emotionally & financially, until they can afford this autonomy on their own. Resulting in some members of this culture doing well for themselves. Which is not the case in Western culture.

On the other hand, a research conducted on American & Western parenting practices by Sandra Hofferth in 2015 discovered that America has higher proportions of poor and low-income children than other developed nations, and poverty explains more differences in parenting practices than family structure. It is slightly ironic, but can we infer this is as a reason for problems observed in Indian parenting, from the given statement? This statement gives us a reason to believe that the financial resources of a family in any cultural context, is the biggest extraneous variable in research conducted on Parenting & Child rearing practices. According to Hofferth’s research, the parents were performing well on average, but two aspects need improvement in American culture, as these cause a lot of developmental problems.

These are Poverty & Parental relations; Poverty and homelessness are the biggest causes of childhood abuse and exploitation in developed countries. There are many cases of resilience, but a lot of children succumb to their adverse circumstances. Strong Parental relations is a good indicator of peaceful family life, It is worth noting, moreover, that despite the preponderance of children living with two married parents at any one time, more than half of American children will spend some part of their childhood living in a household that does not include two biological parents who are married to each other.

This small overview has been presented to provide an insight into the commonly observed Child rearing practices between Eastern & Western cultures. The institution of marriage is highly regarded in the Indian culture and its impact can be evidently observed on child rearing practices in India. Whereas marriage in western cultures is often characterized as the “Next step”. It is very important to note, that when cultural contexts change the problems will also change. Countries like India & China, which have a higher density of people residing in an area, are prone to more collectivistic consumer-oriented parenting. Whereas North Americans are used to Individualistic consumer-oriented parenting. Here consumer-oriented refers to the impact of popular culture on Child rearing practices.

I hope you learned something today, and are able to take something home. Don’t get alarmed by these statistics, refer to the first paragraph of this post. Good Parenting can happen with patience, understanding, unconditional love and support!

For more Blogs on various Psychological Facets follow blog.iilm.edu.

By – Ritwik Khurana

BA Psychology

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.

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

The Research Mindset

 

Research in its real essence calls for unbiased analysis of problems, scenarios, and situations using scientific tools, to get answers and solutions to questions and generate perspectives. Research aids and gives direction to progress and growth. People and economies thrive when in a habit of research. The freedom to explore and analyze any topic under the sun that intrigues the human mind is essential for the growth of human intellect and human capital development. Good research is a good investment. Therefore, it is essential and wise for nations to invest in developing an atmosphere of research and analytical contributions to keep alive the discourse of development and freedom.

“Research is to see what everybody else has seen.

And to think what nobody else has thought.”- Albert Szent-Gyorgyi

Good research is research done in the context of a problem at hand. The research process involves observations, background study, hypothesizing alternative situations, experimentation or data collection, and analysis which brings out the results of the research to make new decisions or recommendations. Quality of any research must be maintained at every step to get useful results that can further aid policy-making and strategizing of plans.

The bounties of modern and civilized life, be it good concrete buildings to live, good food to eat and experience, clothing, transportation, education, healthcare, social work, governance, etc. have been a result of somebody’s research work at some point of time. There are many small countries like Israel, which give a lot of importance to research and development and have risen as the great economic power of influence in the world today with their products and expertise in healthcare, warfare, digital technology, and banking.

The research acumen and interest should be developed quite early, in fact from childhood itself. Children and youth should be encouraged to read, think, and question, analyze problems and think of solutions. The Indian education system is also making efforts to be research and researcher friendly and develop an ethos wherein an analytical mind thrives, but it is yet to make substantial progress in this direction. The education system should be inherently inclined towards a research mindset wherein good funding is provided to research projects and programs in schools, colleges, and universities. More and more national excellent research journals on the levels of the Management of Information System Quarterly (MIS Quarterly) should be established to aid quality research in the country. Also, educational institutions must stress on rewarding and recognizing quality doctoral degrees and research papers. This will prepare the students for the challenging job market ahead and land them their dream jobs.

IILM University is one such premier educational institution of the country that emphasizes research recognition and practice in its graduate and postgraduate programs. Research methodology subject is taught across all programs to inculcate analytical and scientific thinking in students and make them competent with research work and statistical tools that are very much in demand in jobs these days. Students read and discuss research papers, present their project thesis, give presentations of their research, etc. Students are busy with projects the year-round that involve deep analysis of case studies, products, and ideas in detail. This is one of the major reasons for IILM students always bagging top placements.  Besides the regular graduate and undergraduate programs, IILM University takes pride in its robust doctoral program that attracts candidates from across corporate and academic fields. The 6-month mandatory course work in the Ph.D. program prepares the candidates in the research process and research tools and develops their perspective in the right direction. The guidance provided to the researchers is immense and constant. The faculty, regular students, and doctoral candidates have published their research articles in top journals. IILM University International Conference held once every year is another very commendable effort by the University in its endeavour to promote a research mindset that contributes to the progress of the nation.

For all the aspiring candidates of degree programs in Management, Psychology, Law, etc., and PhD., IILM University offers a great environment to learn and grow, research, and develop. The learnings will remain with you and help you grow in your space long after one leaves the University.

The admission team or the author of this blog can be contacted freely for any queries related to admissions and programs. Let us be busy with research to always be at the front of the game.

 

P.S.: The author is a Ph.D. scholar at IILM University and can be contacted on email: Shahana.qutab.phd2019@iilm.edu

Blog on medium: https://medium.com/@shahanafatima/research-in-its-real-essence-calls-for-unbiased-analysis-of-problems-scenarios-and-situations-a108dc06fef?sk=e5295cffd3bb2800e7f62ce1f7b612e3

blog on Linkedin: https://www.linkedin.com/pulse/research-mindset-shahana-qutab/?published=t

“Kya Result Aaya?” #Boards 2020

Introduction:

Board results are the quintessential discussion for parents and students which also becomes the most discussed topic amongst family. Unfortunately, it’s marking a child’s future with the percentage for the rest of their lives and not to mention labelling them.

The amount of pressure that board classes bring with them has been accounted in various studies, clearly signifying, inverse correlation of stress and marks in board exams, even though we continue to pressurize students to attain, at times, the impossible.

Expectations (from parents, teachers, peer and self) may crumble the self-esteem, as well as performance in boards and can have devastating effects on students and their career options.

100% Board results-2020

In 2019, as many as 17,693 students scored more than 95% in CBSE XII and the numbers increased to 38,686 students in 2020. Board results 2020 have raised the bar for students, who will be giving exams from here on. To compete with 100% marks can have challenges in plenty. Not to downsize the student who made that effort and actually got those brilliant marks; the discussion is about students who got a distinction (above 75%) and still feel “not good enough”.

This unfortunate inadequacy of “could get better marks” is a dilemma any student scoring marks from 70-90% category feels, especially when the choice of subjects in a prestigious university looks bleak. Not that the ones who make it over 90% waltz through the top universities. They also struggle and at some point “have to compromise” on the course or a college.

Can you accept your marks and not label it as destiny?

My observation while looking at board results- Yes, it is the highlight of your life and will be compared in galore with cousins, friends and any known person who got better marks than you. However, could we stop putting the blame on either teachers, Corona or pressure from known and accept what we scored gracefully?

Can we find jubilance in clearing class XII and being ready for applying in colleges rather than whining of what could happen if we scored better? Acceptance of board results brings inner peace and reduces comparisons which clearly isn’t helpful. I believe board results don’t shape your destiny and that only if you are ready to believe in yourself, can life offer opportunities for you to carve out the best in self.

If we can make a reality check and be honest with oneself, as to what are the strengths and to work on them, we may find our success, even if it feels inadequate to others. The key to convince parents and friends is when you, yourself can accept what you want to do, or reach out for counselling, if unable to make career choices.

Try reducing those mountains of expectation or mirages of “what I should be” to “what I can be” for a better career path and at the same time enjoy the journey of becoming your own person.

Experience the “Joy in Learning at IILM”

With newer opportunities coming up every day like School of Humanities at IILM University, Gurugram, we encourage students from varied fields to open their minds to choose a trending subject and experience the joy in learning. With latest pedagogy in teaching, faculties at IILM strive to help students create a niche for themselves and prepare themselves for better career opportunities.

Conclusion:

Board results could have brought tears of joy or disappointment given what you were expecting and what was received as results. See this as an opportunity to explore and search what and where you want to take your college education. Comparisons and expectations can be hurtful, so try avoiding them by focusing on “what you think you want” than “what you should be”.

 

“Every accomplishment starts with a decision to try”

Decoding Careers in Psychology

This Podcast is for all the people who aspire to be psychologists and want to create a difference in people’s life. Curiosity is an intrinsic part of human nature. Many of you have grown up asking one basic question why? And as adults, we continue to question and ponder at things.

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Psychology and psychologists tend to apply the same universal curiosity to observe and examine the relationship between our environment and our behaviour. This has motivated many people to choose a career in psychology.

Today I will try to decode a few career options rooting out of this vast subject i.e. Psychology. Be it schools, colleges, hospitals or organizations everyone needs a psychologist Today. But before that let’s clear our minds with the role of a psychologist. What do psychologists do? Tomorrow when I am a psychologist what is that I’m supposed to do? Once your vision is clear following the path becomes easy.

As Psychologists we investigate human behaviour, how people think, learn, develop emotionally and socially. Not only this they help people build their confidence and self-esteem. Your job as a practitioner is not only to help people suffering from trauma, mental disorders and substance abuse related problems but also to bring about positive change in the society and environment.

A Psychologist’s role is to connect with people, nurture relationships, and help people build a strong sense of understanding with others and their inner self. Working with individual client’s psychologists can transform lives; understand the root cause of the problem and offer treatment contributing majorly to the well being of our society. This involves the major role and responsibility towards the profession.

You can work in universities and government agencies as well. Depending on your career goals you may opt to move into a speciality area that fires your imagination and promises fulfilling work.

One can begin with a Bachelors degree in Psychology which gives you exposure to various subjects like abnormal psychology, positive psychology; youth gender identity, emotional intelligence, organizational behaviour and many more. Once u develop an interest you can gradually peruse specialization in counselling, clinical, organizational, or child psychology which will open doors in almost every discipline be it hospitals as a therapist or schools as a counsellor or in organizations as a life coach.

The choices are so vast that you can choose to be a military Psychologist consumer, aviation or Forensic Psychologist. The fields are endless. You name a disciple and there is a need for a responsible psychologist everywhere. Rightly said this profession is interesting to pursue but one has to deal with utmost responsibility towards one’s clients.

Internships are an important aspect of a Psychologist’s career building. With continuous internships programs in hospitals and Ngo’s many students have mastered the art of psychotherapy and are practising making a difference in the lives of many people. You could be one. Get introduced to the subject and discover more about the Psychology behind a Beautiful Mind.

Winning through the Art of Communication

 

‘Words are, of course, the most powerful drug used by mankind.’  – Rudyard Kipling

 Communication is central to the very existence of humans. Man has been communicating since time immemorial. Communication is the lifeblood of our whole being. In every age of man’s existence on earth, communication has acted as an agent of facilitation, social life, and development. Cavemen developed their own lingua franca to make meanings out of things and send meaningful messages. They also communicated through art. As the importance of communication is second only to oxygen for humans, the importance never lost its sheen throughout homo sapiens journey in the historical chapters of planet earth. In the modern ages or in other words, the competitive world, which is, even more, a world of survival of the fittest, every day demands constant steadfastness in the face of challenges and opportunities, both in personal and professional arenas. Nobody wants to lose the opportunity to fair well or make better of it. 

Present times are fraught with people battling stress. Resultant of the busy competitive world we live in, stress eats away on our happiness and well-being like a termite which is evident in high divorce rates, dysfunctional parenting, on-job burnout, boss-conflicts at the workplace, joblessness, violence, depression, increasing suicide rates, etc.  There is a continuous nag that ‘nothing is ever going to be enough’ constantly nudges at you. Communication helps to combat stress as we learn to express ourselves, thereby clearing doubts and confusion, and building valuable connections. But communication must be effective so as to be of any use in delivering the right message, to the right audience at the right time and make a fruitful impact. ‘Effective communication’, remains the no.1 skill to lead and manage a successful life.

The Communication Gap

Today the world is impatient, does not wait for anybody. Everyone wants to grab that chance to a better life, job, or income. This demands us to constantly up-skilling ourselves, and being in the right circles, aka, effective networking. But, even here, to be successful, we need an empathetic human to human connection. Communication gaps can hinder relationships between boss-employee, teacher-student, parent-child, siblings, and friends. Married couples ought to work on their marriage by constantly enhancing communication and listening.

Effective communication can act as a glue and heals discord, builds bridges, which is good both for business and personal life. While everyone starts their professional life equipped with in-demand degrees or skill certifications it is the skill of effective communication that decides who will sustain in the race and be the best or among the best, to succeed, to grow, and to enjoy the journey that life presents.

Tools for Effective Communication

Good communication is a crowd puller. Imagine a leader without the art of communication. As simple as it may seem, communication to be effective is still a challenge for many. The ways of what is good in oral communication differ from what makes an impression in written form. Also, styles and techniques of communication differ from person to person, situation to situation, and medium of communication.

Oral Communication: When it comes to improvement in oral communication to become good public speakers, orators or impress in meetings and interviews, skills can be honed by listening to good speakers, study their body language and use of vocabulary as much as possible. It is very important to understand aspects of the speech like tone, fluency, eye contact, pauses, use of space, gestures, etc. Using anecdotes, emotional stories, poetry, couplets, and humor enhances oral communication by helping build connections with the audience. The only thing to be kept in mind is to not over-do these tools and use them appropriately. Regular practice and proper planning help sharpening the oration skills immensely.

Written Communication: Written communication is very important from documentation and legality perspective. Academic teaching and learning, business transactions, print media, legal issues, emailing, etc. depend on written communication. It is very important for a writer to write and convey their thoughts clearly. The inability to write what one wants to express will be an impediment to one’s success. Tools like using the right approach, style, and words help in creating powerful, meaningful messages for the readers. practicing the use of correct grammar and spelling (Grammarly app is one such tool) and setting the right tone in the writing is very important. If not drafted well, written communication can fail or backfire due to misunderstanding, as it does not have the advantage of being face-to-face.

Visual Communication: Pictures, graphs, charts, and all kinds of imagery are part of visual communication. Pictures/images speak a thousand words, have the power to set the tone of communication, leave an impact, and project the intended message without hours of speech or pages and pages of writings. The presenter must have the skill to navigate the mind and eyes of the audience to create an impactful visual presentation with the right captions, slogans, etc. Learning visual arts professionally or with practice and guidance can tremendously help a communicator.

Overall, for effective communication, it is very important to know the mind of the audience and shape the message accordingly by appropriate use of communication tools.

Communication Skills in Education 

A good communication course or certification is an added advantage but not enough to become a real good communicator. Life experiences and good education teach us that indispensable skill. Not many organizations especially educational institutions, present an education rigor that makes one an effective communicator. But there are some which do.  World-class educational institutions like IILM in the Delhi NCR region, have a brilliant history of producing positive minded and competent professionals with excellent communication skills. Such institutions are known to lay stress on creating a learning ethos with communication skill development at its core. Students hone their oral and written communication through impactful and professionally designed study programs including active and participatory classwork, club activities, dissertation, outreach projects, competitions, events, etc. Every student comes out of their shell, gains the confidence to stand up in face of an audience, learns skills to lead, collaborate and connect through good verbal and non-verbal skills and shun negativity from their life.

For students, as college years are formative years of their personality and crucial years for building their career base, IILM is a great investment for those years and emerges confident and competent.

Role of AI in Financial Services

The emergence of automation has shifted the nature of jobs across sectors. So does the financial services. Financial services are also not immune to this development and are impacted by automation and artificial intelligence. Today, financial services are not limited to brick and mortar structure only. Traditionally, financial services used to be the job of a geeky person with a calculator. The financial industry used to be a paper-intensive industry.

But now, things have changed and the nature of the job has changed from bookkeeping to critical financial analysis. Even the Banking sector is technology-driven and gone the digital way. How one usually thinks about jobs in the financial services domain has already changed or in the process. Do you aspire to join financial services in the near future? What are the future job profiles for you? To answer these questions, one needs to understand how the increasing role of Artificial Intelligence will affect the future of financial services and how you can strive to stay relevant.

Impact of AI on jobs

Artificial intelligence AI will be the cause of great disruption for stable career choices of the financial services sector. According to one estimate, across the globe, about 1.3 million bank workers will lose their jobs. Traditional banking jobs like cashier, clerk, etc. are likely to be reduced by automation. All routine jobs are likely to go away with the increased interference of artificial intelligence/automation.

Artificial intelligence with a combination of Big Data is now even affecting jobs involving critical analysis. The combination of Big Data and AI enables us to make decision-based on humongous data and predict the future. This will thus affect the job of a financial planner, tax personnel, and others. One needs to consider this automation as a wakeup call and as an indication of the need to continuously enhance our skills to remain relevant in this fast-evolving dynamic world.

Emerging Profiles in the Financial Services Domain

On one hand, AI will cut routine repetitive jobs; and on the other hand, it will also create several jobs. It is estimated that in India, more than 50 lakh new jobs in the financial services sector will be created in the next ten years. Fintech is the new buzz word today. It is a combination of Finance with Technology. This Fintech sector will provide new job opportunities to aspirants in the future. ‘Finance Engineer’ and ‘Sustainable Wealth Manager’ are some job titles in the future.

Roles for personalized financial guidance will emerge in the future. Financial advisors who have analytical skills and the ability to translate data into relevant and meaningful stories will be in demand. Jobs in the field of blockchain, mobile wallet, and Robo advisors will flourish. Blockchain and apps developers, financial analysts, product managers, compliance experts, cybersecurity analysts, quantitative analysts, business development managers, and data specialists are few profiles that will be in demand.

Skills for Future Financial Services

The need for highly skilled and tech-savvy financial professionals is rising. In-depth and holistic financial knowledge will be the key to career success in this sector. Data analytics and sustainability are other important skills to sustain and thrive in the future market. ‘Superforecasting’ is an ability that is imperative in the domain of ‘Cryptocurrency’. Superforecasting means objective analysis of all present and past events and breaking down complex problems to smaller pieces.  Key requisite skills are business planning, data analytics, along with knowledge of C#, Java language, Murex language, Python, and other programming languages.

Contribution of IILM in your journey

The teaching pedagogy at IILM fosters a learning environment to enhance creativity, originality, critical thinking, and leadership skills in students. It also inculcates and equips students with future scoped skills.  The focus is two-pronged – traditional teaching to develop basics along with new-age electives like Fintech, Data Analytics, Python, R, etc. to give a perfect blend of modern and futuristic courses. IILM thus provides a complete package to students and makes them ready for financial sector jobs and thrive for career success.