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How IILM UBS is fostering a Mindset of Entrepreneurial Thinking & Creativity

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Entrepreneurial thinking refers to one’s ability to see the world differently and find innovative solutions to a given problem. This is a pre-requisite in the fast-paced business world of today. From budding family business owners to those looking to fuel a startup vision, tomorrow’s businessmen and women must possess the skills required to identify market opportunities and find creative ways to leverage these opportunities.

With a BBA in entrepreneurship, you’ll be exposed to a myriad of experiences that’ll help you develop the skills required to start and manage a business. You will have the chance to explore new learning opportunities, develop your business strengths and overcome your weaknesses. Given the wide variety of responsibilities connected with running a business, the BBA curriculum focuses on holistic learning – from marketing and innovation studies to technical business processes. The end goal is to shape well-rounded entrepreneurs capable of managing and scaling successful businesses.

The central benefit of pursuing an entrepreneurship course at one of the top business schools in India is that you will be equipped with a host of promising career opportunities, including consulting, family business management, startups and corporate jobs. With training in entrepreneurial know-how, not only will you learn how to start a new business from scratch but you will also understand how to restructure, reorganize and expand an existing business. Additionally, greater creativity and problem-solving skills fostered at IILM UBS will give you that much needed push to fuel your startup dream. This is of special importance for students looking to find direction in terms of career goals. Student mentors play a critical role in helping you identify your core point of interest and assess its feasibility in the current market situation. Greater support is provided via Annual Entrepreneurship Conferences and the Entrepreneurship Development Center quarterly innovation weeks.

The 3-year BBA course is designed keeping in mind the special needs of budding business owners, with equal emphasis on imparting practical and theoretical knowledge. With extensive case studies, role-plays etc., you will undergo overall personality development and up-skilling preparing you for jobs in healthcare, retail, service industries, financial services, banking, startups as well as non-profit organisations.

Given the need of the hour, innovation is placed at a high pedestal in our institute. Not only does it create unmatched value for existing family businesses, it is also especially important for setting up a new venture and expanding it. Additionally, entrepreneurial thinking will allow you to stay ahead of others and maintain a leadership edge in the corporate world.

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What are the Benefits of Specialised Mentoring?

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Young minds are often given to traverse the depths of aspirations and opportunities to find the right path. Even though strong in will and ambitious in actions, the surmounting problem of a future life can be arduous to tackle alone. One then needs assistance from an expert who understands these goals and can guide you towards your calling. In simple words, students need mentors who can help them achieve their maximum potential. At IILM, we assign a dedicated mentor to each student who helps you through the thick and thin of academics, career, and the future. Mentoring sessions are a part of the entrepreneurship courses at the Undergraduate Business School at IILM. Read on to find out the various benefits of specialized mentoring:

Identifying Priorities:

Primarily, you must learn how to get your priorities straight and manage your time accordingly. With social media creating an eternal distraction in the lives of the young guns, our mentors help in determining the amount of time wasted. Subsequently, they urge the students to make practical plans to reduce the wastage of time. Finally, they help in establishing accountability for the plans to ensure growth and the optimum use of time to achieve the goals.

Managing the Financial Aspect:

Most students come to IILM to pursue the bachelor of business administration degree from different walks of life. Regardless of the family background, every student evaluates his/her financial position at some point in their educational career. More often than not, it leads to unwanted and unnecessary stress. The specialized counseling at UBS, IILM aids in exploring the financial worries, identifying wasteful spending, and helping you look for ways to do well post the completion of the course.

Managing Anxiety:

The elaborate curriculum and industry practices required to be mastered by students may lead to anxiety. You may feel like not being able to cope with the studies. Mentors at IILM lend guidance on how to get rid of irrational fears. Additionally, they help you manage your studies better and rearrange your thoughts towards a positive mindset.

De-stressing:

The business world gets the better of everyone every now and then. Therefore, how you handle stress and channelize your worries are essential. Specialised mentoring sessions are organized to avoid the stress from building up to a point where it becomes overwhelming. Regular sessions beyond school hours ensure that the students don’t over-indulge in unnecessary activities. They make sure that you don’t turn towards depression and ruin your life. By simply indicating triggering points and identifying activities and ways to cope with stress, the mentors introduce mindful ways of coping with the problems of the mind.

Moreover, mentors help the families of the pupils to keep a track of their child’s progress. The sessions emphasize ways for pupils to expand their family business, higher education abroad, starting a new business or finding a respectable job to excel in life and make a name for themselves.

Impact-of-Artificial-Intelligence IILM BLOG

Impact of Artificial Intelligence

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Artificial intelligence (AI) is expected to change the way every industry works. It involves creating machines that can work intelligently like humans. The use of data is increasingly driving major decisions in different industries. This data when fed and used by machines give machines the wisdom to think like humans. Hence there is huge dependency on integrity of data. The need of the hour is data centric technologies and institutions will need to upgrade their curriculum to remain competitive. The key to getting employment in future is to upgrade skills of people and work towards specialization. The necessary skills required for data centric technologies are being identified to align educational institutions.

While changes are being introduced in the companies, one has to find a way to continue sustaining an income until the skills get upgraded.The limitations of humans will no longer be a concern with advances in robotics, artificial intelligence, and machine learning. With the use of Robots, the number of errors will reduce and the speed and quality of work will improve. Many countries that face limitations due to lack of youth in large numbers will no longer be behind in the race towards advancement. Labour intensive work will be automated and humans will take the activities that require critical thinking and analysis. The cost of performance in the long run will reduce though initial years will require huge investment towards automation. As per Mckinsey’s report, by 2055, half of the work activities could be automated. Humans would need to start getting used to working with machines. New skills will need to be acquired and the policies created by the government will have to be innovative to accommodate this major impact in type of employment.

AI has started delivering value in various sectors. Retail sector is using AI robots to check inventory and place orders automatically when the inventory levels are low. With the analysis of big data, retailers are able to predict sales and are able to manage inventory and make profits. Robots can work alongside humans in retailers warehouses and increase productivity. Delivery to customers can be done by drones like Flirtey. Check in and issuing of boarding passes have started without the requirement of human intervention in the airline industry. Manufacturing industry is seeing a drastic change. Optimization of processes across the value chain from refinement in product design to using AI based tools throughout the supply chain is possible.  In healthcare, AI can lead to better diagnosis with the use of big data analysis of patient history, other similar cases and treatment details. The insurance companies can use big data to improve their business model. Routine patient interactions can be done by AI enabled robots which have all the basic information.

Educational institutes will also have to rethink their strategy for sustainability. In Education, there are going to be virtual tutors who can tailor the curriculum for students. The education system will see a dramatic shift as AI will be able to forecast the need of future employers. Institutes are exploring how AI applications can be used to improve retention problems in students. Programs teaching computer applications are using a personal tutor which gives questions to students along with hints as well as increases complexity level of questions based on performance. Big data and analytics can be used to reduce drop-out rates in students. Educational institutes will have to promote adaptive learning and teaching, looking at student data and use personalized and effective teaching methods.Value add work will continue to remain with humans and thus teachers will be expected to mentor and coach students. The primary areas would be creativity, emotional intelligence and communication which maybe beyond machine’s capability. Machines will cater to the routine queries of students can be automated to save time and effort. The technology is pervasive and has also entered grading. A company GradeScope uses machine learning to grade students on the basis of teachers instructions and students handwriting, though it is more for objective type of questions. Thus the focus of the teacher can be on higher level value add areas rather than routine queries, administrative work and basic lecturing.

Several key factors will determine the level of automation and its adoption. The technical feasibility of automating the task at hand for every industry will need to be evaluated. Since automation will take time and investment, the adoption will be dependent on the cost of development and implementation. The economy will struggle with the shift from cheap labour to buying expensive machines and experimenting. Though the economy will benefit because of better quality and speed of work, the acceptance of this change will determine the speed of adoption. Thus the day to day activities are not forecasted to change fast. At the micro level, changes are expected, however at the macro level it will take decades before complete adoption is seen.

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BENEFITS OF STUDYING AT IILM UBS

General Blog, IILM Undergraduate Business School, IILM University,

With high-quality academics and impressive study abroad programmes, IILM is ranked amongst the top tier B-schools in the country. It’s been 25 years since the inception of the venerable management institute and through the years, IILM has displayed incessant and consistent efforts to deliver superior quality education to its students. This dedicated commitment has been recognized with a number of accolades that the institute has been honored with year after year. In 2017, EdUniversal ranked IILM as the 11th best business school in India. Keep reading for the IILM BBA course details that set it apart:

Centrally Located Campus:

The central location of the IILM campuses gives students the opportunity to take advantage of the numerous resources and stakeholders available in the vicinity, as well as a chance to network with the influential community present in the national capital. IILM has three strategically located campuses. One campus location at Lodhi Road, the political center of the country, enables students to be aware of the developments in politics as well as business. The second campus in Gurgaon’s Golf Course Road, the industrial hub and nerve center of start-ups, gives students the opportunity to network and learn from established and budding entrepreneurs. The third location in the Knowledge Park of Greater Noida provides a knowledge-sharing platform for the students with universities and large firms located in close proximity.

BBA in Entrepreneurship, undergraduate program

Global Exposure:

The BBA college at IILM offers the Global Study Programme to develop intercultural competence in the students. The Programme includes lectures on Strategic Management, Entrepreneurship, Digital Marketing and Innovation at the partner institutions abroad. The students have the unique opportunity to study at a campus located in North America, Asia or Europe and immerse themselves in the local culture as well as participate in company visits abroad.

Family Business Mentoring:

Many students at IILM either join their family business or start their own business after graduation. At the business school, you are assigned a mentor with whom you have the opportunity to ideate, discuss and incubate your ideas, as well as seek advice for challenges that a family business may face. These mentors are expert faculty members who give students individualized guidance depending on the varied background and interests of the students.

The BBA programme at the institute is quite popular, especially in today’s day and age when the demand for management experts is constantly on the rise. IILM has a vast alumni network of over 9000 students that have been placed in some of the biggest firms in the industry. IILM offers its students numerous benefits and promising future prospects, which is why the institute is the preferred choice for many students.

Art-of-Management-Blog

Art of Management

Career Development (Placement), Exam Watch, General Blog, IILM Institute for Higher Education,

Management is a subject that defines practical knowledge of lifestyles and mannerism to develop a business on strict terms and procedures. on the contrary, poetry is an expression of my views, perceptions and feelings conveyed through words of wisdom.

“management is itself an art, an art defining self-development goals.”

management and poetry are two ends of the same rope. for me, one is to enhance my knowledge and personality with an exposure to varied fields and concepts while the other end leads me to a more relaxed version of myself wherein I am composed, idealistic, imaginative and innovative.

“art nurtures my soul and strengthens my aspirations through different goals of management“.

“Time is a journey,
Of joys n sorrows.
Moments become a memory,
lightning the path for tomorrow.
Tomorrow, is unknown
for the facts we own.
Time is a measure,
discovering self creations.
Through ways of leisure,
forming insecure upgradations.
Upgradation is a necessity,
for our lively vicinity.
Time is a treasure,
for lonely admirers.
Business is plushy pressure,
discovered through real mirrors.
Mirror, an unbiased cage,
defining our complete image.
Time is a story,
furnished in a short memory.
fore-gone is history.
Followed by, is a mystery!
Mystery, is a heavenly gesture
personifying a lifetime adventure.”

____ Vaishali Kanodia (PGDM Batch : 2017-19)

SOFT SKILLS : The mantra of Success

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Students, professionals, and industries are talking about the much hyped and needed soft skills for the students of B Schools. Everybody seems to have woken up to the fact that soft skills are more important than the technical skills. Soft skills are the opposite of hard skills. Hard skills are basically technical skills that identify people in certain industries whereas soft skills are what professionals need to move along with each other, such as emotional intelligence, a sense of humor, manners and observing the proper way to act in a given situation. Technical skills position you as competent, but soft skills help you to deal with your clients and co-workers.

MBA graduates feel that just getting a degree/diploma in hand would get them a great job, however, they are left disappointed when they face the interviews and find that they lack the much-needed communication skills to impress the interviewer. In many leading companies, recruiters are now looking at candidates with not only business/technical skills but also with a set of soft skills, which includes how well they relate and communicate with others. The most sought-after skill during an interview is the communication skill as it comprehends how well the candidate would communicate with his seniors, peers, and clients. The development of ‘Soft Skills’ in the industry becomes very important when there is intense competition for many available positions. The ability to develop and use ‘soft skills’ can make the difference between a job offer and the enjoyment of a new employment and community environment.

According to MeritTrac’s (India’s Largest Skills Assessment Company) Talent Pool Report, three out of four MBA graduates are unemployable in India. These alarming reports have sent strong signals to the industry and B-schools who have realized the dire need of training students in soft skills in order to carve them into industry ready professionals. Most of the B-schools have started integrating soft skills training into their curriculum. Rigorous soft skills training includes mock interviews, group discussion, public speaking classes and interactive sessions. Also, managerial communication, organizational behavior, and leadership courses are conducted on regular basis. Still, the industry is facing a shortage of people who are capable of delivering soft skills training. The demand-supply gap still hovers at large.

In the majority of B schools, students lack communication and articulation skills. The B schools have taken this aspect seriously and have incorporated soft skills as a module in all semesters and cover it as a part of their curriculum. These kind of training programs are quite beneficial for the students especially coming from small towns and cities.

Let us have a look at what life skills means? According to Wikipedia, Soft skills refer to the cluster of personality traits, social graces, ability with language, personal habits, friendliness, and optimism that mark people to varying degrees. Soft skills complement hard skills which are the technical requirements of a job. Skills like communication, time management, confidence, public speaking, cooperation amongst others are known as soft skills. To be flexible enough in order to adapt to the changing needs of an organization is also a part of soft skills, as it helps students to collaborate with others and influence situations through lateral and more creative thinking.

Soft skills include everything that relates to a group, an individual or an organization in relation to interpersonal behavior, job performance, interaction and working in a team. MBA students aspiring for a job should have a combination of traits and skills like leadership, management, interpersonal skills and ethical behavior in order to move up the corporate ladder.

While at work, soft skills are all about projecting one’s professional skills at its best. Soft skills are not only required while interacting with customers but also in industries where a high level of collaboration is required between multi-disciplinary teams. Employees equipped with good business etiquettes have great self-confidence and self-esteem. This also reflects on their output and quality and also shows out their clarity and determination towards their task. Companies with high investment in training show a higher market capitalization than other companies in the industry.

Some Reasons why MBA aspirants should develop Soft Skills are

  • 1. Soft Skills help improve your career
  • 2. Soft skills create opportunities
  • 3. Soft skills help advancement in career
  • 4. Soft skills offer personal growth

Though B-schools are responsible for making the students understand the importance of such skills, the students also have to take some charge. Students have to comprehend the fact that if they aspire to a good job and want to sustain it, soft skills are important. If the institution is doing the needful, it is also the onus of the individual to take such training programs seriously in order to excel in their professional life. Though institutions have started focusing towards making their students value the need of soft skills through various seminars, conferences, and workshops, the initiatives have to be on a larger scale to ensure that students learn these skills for life.

Finally one has to remember that Soft Skills are skills that are not meant only for today they are meant for life. These skills make a significant impact on an individuals’ working environment thereby maximizing his contribution to the organization.

The-Finest-Gesture-From-You-Donate-Blood

The Finest Gesture From You-Donate Blood..!!!

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On the Occasion of WORLD SUICIDE PREVENTION DAY, 8TH September, 2016 a blood donation camp was organized by YUVA GOONJ – NGO Club of IILM INSTITUTE FOR BUSSINESS AND MANAGEMENT, GURGAON in collaboration with Rotary club gurgaon, unit of rotary blood bank and social services.

Rotary Blood Bank established in 2002 with the mission of “no one shall suffer from in and around Delhi for want of Blood” collaborated with YUVA GOONJ spreading the objective of Yuva wings to bring smile and colours to life. YUVA GOONJ Continuing its chain organised the blood donation camp with massive success. Crossing the last numbers, donors touch the number of 68 making the purpose fulfilled with great zeal. Read more

Book Review - The-Anatomy-of-Success

Book Review- “The Anatomy of Success” by Dr Rakesh Sinha

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The world record winning, Dr. Rakesh Sinha is a gynecological endoscopic surgeon based in Mumbai. He has written his first book entitled; “The Anatomy of success – Management lessons from a surgeon”. Drawing two Guinness World Record from his surgical experiences, Doctor motivates people to achieve excellence in their own professional goals by deconstructing success into easy components. He has focused on higher potential of human being and further suggested that irrespective of the biological components, the success is something which we all are deserving.

His first book is based on management lessons from his own surgical experiences. This book is divided into fifteen chapters and all were sub-divided on the basis of three components; i.e. Biological component; Learning Component and cognitive component. Dr. Rakesh has utilized his education of neurophysiological and neurolinguistics programming for elaborating his experiences of real life. The visualization of dreams can be easily seen through GPS (i.e. Goal, process and success) and further expounded that heredity has to do nothing with the success. The more redefined signature skill will allow us to get the job done in the lesser time and efficiently. Will power is generally based on the thoughts, emotions, performance and impulse. The author has put forward the concept of how to unlearn the things and pursuit the mastery in our fields.

The reading is first of its kind which recommend a person about what to do or what not to do in order to attain the success. As the examples cited in the book is linked with human neurological system, medical terms and surgery. Hence, it become very stimulating for any reader to learn, to become very optimistic.

Self-control, decision making biases and learning through observation or deliberate practice are the most interesting aspects which are covered in the book. Its human nature that if any endorsements or recommendations are given by any layman then we may not accept or acknowledge it but if the lessons or suggestions are given by doctor or professional then we usually not only accept it but also foreword it to others.

This manuscript will enlighten you with the tips of attaining the success in very short span of time and the most beautiful thing proposed in the book is that to err is human and to learn is divine.

The book highlights the few commonalities between management and medicine. Betting the odds and being better than what we could be are the best learning we can gain from this book. Dr. Rakesh has elaborated each inspiring point through the medicinal and motivational theories. His lessons would be meaningful for the patients, doctors, mangers and trainers. He has segregated the entire learning lessons of the book into three sub-parts :

Suggestions for Doctors : The anatomy of success is an entire treatise on the essential path towards success, the anatomy of the mind, the psyche, the carving and passion for success. The book teaches that how success is generated, nurtured and reaches fruition.

Suggestions for Patients : Stress is the worst thing for any patient and it will find a way to infiltrate our immunity. Dr. Rakesh has suggested that Success at just any cost will leave you poorer in end. The art of maintaining a fine balance in work and world is also the hardest lesson that even the author have ever had to learn and it is one that he keep learning every day of his life.

Suggestions for Mangers & Trainers : Dr. Rakesh has asked a question from the mangers and professional that can work alone provide the satisfaction? The response is negative. The success evolve only with the perfect balance of Personal, professional, spiritual and family life.

Dr. Rakesh inspires, motivates and educate us to take a firm control of our future and live up to our potential. The reader will find as if the book is talking about their life journey which is communicated back to you with powerful stories and practical tools. Whether you are a student, a young manager or an accomplished professional in search for further success, this self-believed and thought provoking book will be worth reading ever.

Digitalization : A new reality for Finance and Business

Digitization – A new reality for Finance and Business

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By the year 2020, the entire generation will grow up in a primarily digital world. Increasing reliance on technology and demands for the things that are fast, easy and mobile is driving a movement toward digitalization. Digital trends are changing consumer’s demands and expectations, the way the business must operate and the talent dynamics in the market. Digitalization will reach a high point in the next few years due to three significant forces; i.e. Consumer Pull, Technology Push and Economic Benefits.

Changing consumer behaviour and preferences has forced the financial institutions to develop such practices that will allow smooth functioning of digital channels, providing seamless experience.

Since decades, the financial industry has experienced a continuous evolution in service delivery due to digitalization. But there has been a shift in the focus of digitalization from improving the delivery of traditional tasks to introducing fundamentally new business opportunities & models for financial service companies.

In today’s digital world, finance has become more agile, forward looking and decision centric. Digitalization of finance is dramatically altering the existing finance industry and changing the nature and conduct of business thereby shifting the value prepositions. Finance leaders today have a huge opportunity to play a lead role in shaping the digital agenda of the organization. Digital transformation of finance holds the key to make this shift work towards a digital organization.

Financial services organizations must look outside the customer experience box and ensure that the business comes together to define how the organization can successfully create the “digital umbrella” across the whole organization.

In India and around the world, banking industry is going through changes with major shifts in technology, digitizing the entire banking process and redefining new ways of doing business. Payment banks and small finance banks are also entering the system thereby increasing the battle for customer loyalty and growth. Financial services needs to go beyond commonly-held notions of being digital.

Although the digital technology has changes the face of banking. But innovation just for the sake of innovation is a waste; it must have a genuine customer benefit. Jumping into whatever is trending will not ensure relevance and engagement; it’s better to get things right and offer a flawless experience within existing channels rather than provide an average-quality service across a myriad of channels.

The banks should ensure a superior experience in existing delivery channels before launching additional ones to bring perfection in execution of existing channels and focusing on the service quality.

Today’s advanced technologies are poised to transform the entire financial services industry. Indeed, as they reassess their customer strategies in light of this fast-evolving technological landscape, leaders see boundless opportunities to implement a wide array of differentiating customer capabilities and experiences.

With the digital shifts in core business, finance needs to enable and drive the change rather than being stuck in the past.

Book-Review : But-What-If-We-are-Wrong

Book Review – But What If We’re Wrong? by Chuck Klosterman. Amberley Publishing (2016)

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Klosterman’s novel But What If We’re Wrong (2016) stems from his scepticism about the beliefs system which human beings have been carrying forward like a legacy. At the very outset, he debunks this beliefs system and speculates upon the possibility of it being false. He broaches a range of subjects from pop culture, music, sports, philosophy and science to display his uncertainty around them and the reader comprehends that the author is against all the principles of conformity.

The apparent contrarian that Klosterman is, he urges his readers to expand the horizon of their thought process and create their own truth by critically examining the given state of affairs. He underlines that believing what is being portrayed is so intrinsic to human beings that they do not even harbour the minutest idea of questioning the depicted reality. The underlying intent of the author injected by regular dose of humour is to make the readers question the cultural and scientific theories which are, by default, believed to be universally true. He implores his readers to become disassociated from the pictured truth and analyse themselves the various things around them.

He explains that the starting point is to set the premises that we are wrong, as such a process would facilitate thinking in an objective manner. The second step which he explains by touching a stream of objective and subjective issues characterising the current world is, to wonder how these things would really appear in a distant future as he supposes that, “it’s impossible to understand the world of today until today has become tomorrow.” Such an approach, he believes, would make his readers find the truth.

The author remarks that a child is not under any pressure to demonstrate his conformity with others and therefore conceives things according to his or her own reality. On similar tangents, he hopes the readers embark on such a process. However, what is striking about the Klosterman is that he doesn’t impose such a move on his readers. He is rather the one who leads by example. The work is baked with a series of interviews with various thinkers, namely, Amanda Petrusich, Brian Greene, David Byrne, Dan Carlin, George Saunders, Jonathan Lethem, Junot Díaz, Kathryn Schulz, Neil de Grasse Tyson, Nick Bostrom, Richard Linklater, and Ryan Adams among others. The author first dissects their thoughts, and then demystifies them, in order to arrive at his very own understanding around them.

The interwoven layers of thoughts of various theorists and intellectuals coupled with Klosterman’s own opinion around them define the peculiarity of the book. Through the simplicity of the language employed and wit, the author keeps the readers’ interest activated till the end.

To conclude, the book is definitely worth a read. Happy reading!

Miss. Geeta Gogia
(Assistant Professor – French)