Austria Meets India

As I was the first student from my home university FH Wiener Neustadt (Austria) going to India, I could not refer to any previous experiences or references. That is why I did not know what to expect from my time here. When I arrived in Delhi, I immediately knew that I would like the place and enjoy my time here. I was fascinated by the very different and diverse culture of the country, the great historical places to visit and about how people welcomed me.  IILM Lodhi Road helped me to arrange a nice apartment close to university, provided me with general information about my stay in India and introduced me to their academic rules. During the orientation process, I also got to know the other exchange student and we directly decided to visit some new places in Delhi together. Although I was not sure if people in the class will accept my different mindset, I was very lucky that many people in my courses were very open minded. In the initial days, the buddy mentors gave me good advice concerning academic work and helped me to arrange my first trip. As I was expected to do group work in classes, I got to know other students better and we spent a lot of time together. They showed me the highlights of Indian cuisine, lesser known places in Delhi and gave me a great insight into the culture of the country. Talking about the classes at IILM, they were simply great. The content of the courses was very well structured and comprehensive. During the lecture, the faculty members ensured that students participated in discussions and facilitated a friendly environment. The business school provided not only highly skilled academic professors, but also guest lecturers from partner universities abroad and Indian corporates. Furthermore, I got a chance to participate at the PRME conference which gave me great knowledge about sustainable projects in industries and businesses in India. I could also be a part of the 25th anniversary celebrations of IILM.

Overall, I have to say that my time at IILM Lodhi Road was a fantastic experience. Apart from getting to know different mentalities as I was travelling around India, widened my horizon and won friends for life. I would like to say thank you to everyone that made my stay here unforgettable. India is indeed a magical place.

Changing Role of HR – Perspective of HR Analytics

HR analytics, is analysis used to make better decisions about all aspects of HR strategy with the goal of improving business performance.The future of HR analytics depends on integration within a company.The current state of HR analytics for predicting for its future suggests that the future of HR analytics depends heavily on data integration with emphases on integrating business disciplines and centralizing data.According to Deloitte’s 2016 Global Human Capital Trends report, 86% of Australian businesses surveyed rate HR analytics as being a highly important factor in their workforce planning.

Companies can easily take advantage of a single platform that supports a full range of HR processes, including talent strategy and planning; sourcing and recruiting; performance management, learning and development; talent review and succession planning and compensation.

Analytics can also give HR professionals a better understanding of how effective their actions are. For example, analysts can look for patterns in HR data that can help companies improve hiring or reduce attrition, or pinpoint areas where labour-related savings can be achieved.

Analytics can also be used to support training, development and other activities that are more closely tailored to individual employee needs – thereby helping HR deliver more customized options for employees. As the Accenture research notes, HR can use analytics to segment employees in much the same way that marketers segment customers. For instance, companies can group employees by a wider range of criteria that include learning styles, values, personality, wellness profiles, mobility, behavioural patterns, and networking and communication styles.” Using that approach, HR can customize programs for smaller and smaller segments, helping to increase employee performance, engagement and retention.

Human Resource Information Systems (HRIS) are the databases, software and computer systems that companies use to maintain their human resources: payroll, time off, employee records, benefits, and more.HR metrics is the data used to quantify the cost and the impact of talent management programs and HR processes and measure the success of HR initiatives.

R is the most used HR analytics tool. R is great for statistical analysis and visualization which is very suited to explore huge data sets. It enables you to analyse and clean data sets with millions of data.

R-Studio is an open source and enterprise-ready professional software package for R. It basically does everything that R does but has a friendlier user interface. The interface contains a code editor, the R console, an easily accessible workspace, and history and room for plots and files.

Microsoft’s Power BI It makes the aggregation, analysis, and visualization of data very simple. With Power BI, it’s a cinch to connect to multiple source systems, like SQL databases with people data, a live twitter feed and/or machine learning APIs. All these different data sources are then combined in Power BI. This simple aggregation process enables you to combine multiple data sources in one large database.

Some of the other HR analytic Software which are hugely popular are – Oracle HR Analytics, Talent Soft Analytics, People Insight, Sum HR to name a few.

In short term there are and will be start-ups in specialist areas, like in team or network analysis, engagement, performance, strategic workforce planning etc and the cloud-based HR management systems (delivering most of the data). These two areas will soon see the consolidation into larger systems and service offerings.
Finally, the costs of these technologies will reduce which will help spread the use and demands for analytics as smaller organizations will be able to afford to deploy this.

My MBA Experience at IILM

An MBA is not merely a degree. It is not merely a course that allows us to gain an entry ticket into the world of corporate functioning and entrepreneurship. It is a pool of experience that we dip into time and again to gain valuable pearls of wisdom and insight.

My reflections may resonate with those who have graduated from the best MBA colleges in India.

Developing Business and Relationships:

Even as I embarked on my MBA journey in one of the top MBA institutes in Noida I was aware that I would be specializing in entrepreneurship. My greatest learning during my time at IILM, however, was developing relationships. Closely interacting with the faculty and business leaders was an eye-opener.

Add to this the fact that each one of my peers added to the wonderful network I was developing. While I did have some idea about the work of an entrepreneur, I was soaking in all the aspects of business development.

Career Growth:

My MBA experience at IILM, refined my views on career development. One of the greatest mistakes that our generation makes is to equate ambition with shortcuts to growth. Even for those who achieve a phenomenal amount of success in their careers in a relatively short time, life is never a bed of roses.

Setbacks, struggles, and an occasional failure are inevitable. Getting past career hurdles is something that I would not have learned without spending the time I did studying the nuanced lives of various industry leaders and pioneers during my MBA. The course equipped me with the skills that I require to get ahead in my career.

Personal Development:

The time I spent at IILM pursuing my MBA degree was not only a defining phase as far as my career goes but was also instrumental in shaping my own personality, my personal ambitions, and outlook. It taught me the value that we add to goods and services by way of our work is not defined by the profits we rake in, but by the difference we make to the lives of people across the globe.

From our stakeholders to colleagues, from those in need of our solutions to the common man of our nation – our dreams must necessarily be from the growth and development of everyone around us. Our growth lies not only in our own prosperity but in the growth of all the lives we touch.

My MBA experience at the IILM was an exceptional one that opened up numerous avenues for me to explore through my professional life. It also connected me with many brilliant people who had made their mark in the business world or set out on the wondrous journey with me.

Book Review : The Geography Of Transport Systems

Book Review
THE GEOGRAPHY OF TRANSPORT SYSTEMS

By
Jean-Paul Rodrigue, Claude Comtois and Brian Slack
Routledge (Taylor & Francis Group) (2016)

Mobility is fundamental to the socio-economic development of a geography. Transportation has become such an integral part of our daily lives that we as consumers are not able to clearly see transportation as a separate function. Various corporates are heavily dependent on efficient logistics to grab a comfortable portion of the market. Acknowledging this importance of transportation systems, the authors Jean-Paul Rodrigue, Claude Comtois and Brian Slack have worked on this book – The Geography of Transport Systems – to address various areas of concern that the managers and policy makers related to transportation face at present.

Divided into ten chapters, the book focusses on Transport Geography which is defined as a sub-discipline of geography concerned with movements of freight, people and information.

In the first part the authors present a new angle to look at transportations systems. They opine that transportation must be understood as having a spatial network structure and having close relation to commercial geography. In the next section, the authors talk about the necessity and the challenges related to various modes of transportation. The focus of this section is on inter-modal transportation which falls in line with the spatial network concept talked about in the first part. The chapters towards the end of the book describe the relation of transportation with economy, energy & environment and policy. The last chapter focuses on methods of analysisin transport geography.

The beauty of the book is that all the basic concepts of logistics and transportation viz. various modes, network models like hub and spoke, cross-dock, etc. have been covered. However, they have been presented and discussed in a non-traditional way, that links these concepts to the subject of transport geography. The authors mention that transportation is of no value unless it transforms the geographical attributes of freight, people or information, from an origin to destination, conferring on them an added value in the process.

According to authors, transportation plays a major role in international trade as well as at local urban level. It is associated with adding the maximum value in terms of time and location; whether it is passengers or goods that are being transported. The authors analyse urban logistics or city logistics using the concept of Urban Sprawl. This is defined as the spread of city buildings and houses into an area that was earlier a countryside or a less densely populated area.

A unique feature of the book is that it has a separate dedicated chapter on addressing the environmental concerns arising out of transportation. The authors mention that environmental impacts of transportation can be classified as direct, indirect and cumulative impacts. To understand the link between transportation and the environment, the managers must look at the main environmental dimensions of transportation – causes, activities, outputs and end-results of transport systems.

Transportation is a value-adding activity and to do so, it consumes energy just like any other commercial activity does. It accounts for 25 per cent of the world’s energy demand and 61.5 per cent of all the oil used each year. It is important therefore, that technological development in transportation must not only focus on economic and service level performance but also at minimizing fuel consumption and reducing the negative impact of transportation on the environment. This will help in making transportation truly sustainable.

The book clearly distinguishes policy from planning. Policy involves making strategies while planning involves implementation. The outcome of policy and planning is creation of suitable transportation infrastructure, by both public and private agencies. However, the challenge is that policies and plans are continuously changing as they address key changes in society and contemporary issues.

An essential feature of the book is the large number of case studies. Since the authors explain the concepts from new perspectives of transport-geography and sustainability, the inclusion of cases to demonstrate this was imperative and extremely useful. Each chapter has about three case studies incorporated.

This book is a suitable read by practicing managers and academicians who actively engage in research and consulting. However, it is not recommended as a text book for beginners or students in their management course, as to understand the perspectives present in the book, a basic and simple understanding of logistics and transportation is desired. It can definitely be picked up as a reference book.

Ms. Pragya Arya
Assistant Professor – Operations
IILM Institute of Higher Education
Lodhi Road, New Delhi

A Day at IILM Business School

A positive study environment is no less important than a strong curriculum. Finding mentors in your teachers and inspiration in your peers is a sure shot way to succeed and stay ahead in the business world. Keeping up with this ideology, the IILM business school has three beautiful campuses in New Delhi, Gurugram, and Greater Noida respectively. Each campus is designed and maintained with the end-goal to nurture, develop and skill responsible entrepreneurs of the future.

Spending a day in the IILM business school, you’re bound to interact with students hailing from the length and breadth of the country, bringing with them various backgrounds, communities, and ethnicities. This has aided the development of a strong learning environment, brimming with positivity, vibrancy, and diversity. Every interaction is an opportunity to learn about new aspects of varied lifestyles – further pushing the development of well-groomed, all-around individuals, ready to succeed in the corporate world.

top MBA colleges in Delhi

The diverse culture of the campus finds manifestation in Manchtantra – IILM’s Cultural club – formed with the aim to add a holistic feel to PGDM and executive PGDM courses offered by the college. With abundant opportunities to engage in extracurricular activities, students learn the value of cooperation, confidence, and how to work together in teams. This goes a long way in developing important coping mechanisms required for facing challenging situations and tough circumstances. Life at IILM is marked with innumerable chances to embrace your creativity and celebrate your cultural values. By being involved in the organization and execution of various events, you get to learn management lessons while enjoying a fair share of fun.

The zeal for innovation and creativity is furthered through the incubation center. IILM students have access to iLabs, a platform to develop unique ideas and give them wings. The college premise offers the infrastructure to start up with an office space, followed by interactions with potential investors and venture capitalists for guidance and finance possibilities. This is in line with the larger goal to promote holistic development and real-world training for students of pg diploma in management and executive PGDM.

The location of all three campuses has been strategically planned to ensure that students are safe, secure and have easy access to important sites. The Lodhi Road campus is situated in the heart of South Delhi, with so many exciting things to do nearby. The Gurugram campus is in the hub of NCR’s industrial center, lined with all-important corporate offices and startups. The Greater Noida Campus, located in Knowledge Park allows great opportunities for interacting and networking with like-minded, industry individuals. IILM Business schools in Gurugram and Noida also provide hostel facilities, creating a friendly environment where students can work and learn together every day.

All in all, a day at IILM Business School is enriched with a host of exciting experiences. From interactive classes and cultural activities to the incubation center and hostel facilities, every corner of the campus has something inspiring to offer.

Last Minute preparation tips for CAT

Since CAT exam is near, there are some important tips I would like to share.

Mocks – Taking a CAT Mock test every day won’t help much, at this point. Instead, focus on the areas that you’ve already covered, take three to four exams over the next two weeks but, most importantly, revise all the MOCKs that you have taken so far, and learn from them.

Speed & Accuracy – Your performance in the upcoming CAT 2017 is highly dependent on what you have prepared and how good your command is over the topics you consider to be your strengths. Here is a clear pacing strategy that will help you time the test better.
Verbal: Maximum eight minutes for reading a passage and 90 seconds to answer each question based on that passage
Quant: two minutes per question
Logic: Six to eight minutes for a set of four questions
Data Interpretation: six to eight minutes for a set of four questions

Focus on important topics – One should focus on important topics which will fetch more marks. The most important areas of each section are as follows –
QA: Focus on Geometry, Modern Mathematics and Arithmetic problems
VARC: Practice Reading Comprehension as much as you possibly can with a slight focus on Jumble and Completion type questions
LR: Arrangement based puzzles, Investment Betting and Tournaments
DI: Logic and calculation based DI sets are important.

Last but not the least is confidence. One should be extremely confident during the exam. At no point should the person panic. Try to give 100% during the exam.

Where do you see yourself in next two years?

Are youaspiring to become an entrepreneur, an influential leader or a successor of the family business”?

Then Aicte approved college, IILM is a perfect platform to kick-start your journey to reaching great heights in your choicest career path. At IILM we understand that every student is unique and has strong potential to do wonder if his talents are directed in the right direction, thus we shoulder the responsibility of extracting the best from our student by providing them with the management education that goes beyond the traditional classroom ties and accomplish our motto of providing “Responsible Management Education”.

At IILM, Top management institute in Delhi NCR, we incorporate the essential skills in our students so as to prepare them for the upcoming changes and challenges in today’s business era where Industry 4.0 will dilute the traditional jobs and would incorporate fast-paced creative jobs. IILM polishes and widens the inherent creativity of a student by focusing on experiential learning, since the new-age students learn-by-doing in a real business situation as opposed to learn-by-listening, discussions, and studying.

IILM Students

The global integration is speeding up and in keeping with the requirements of the ever-globalizing environment, IILM mandates a 4-week global study in Germany, Canada, Finland, France or Spain, to give students a global exposure in terms of teaching pedagogy, industry visits, and diverse cultural immersion to develop cross-culture communication skills and expand their horizons.

IILM’s Summer Internship Programme is crucial in familiarizing the students with diverse working cultures across big companies (national and multinational), so as to enable a student to understand various dimensions and requirements of today’s era and thus enabling him to decide his/her future path by closely experiencing and examining the complexities of it.

IILM Students

Right Mentoring is the key to success and faculty @ IILM leaves no stone unturned to guide our students. We provide them with pathways to choose and specialize in their areas of expertise and interest, to ensure that the actual potent of a student is best utilized leading to a student’s betterment throughout his/her life.

IILM Students

The full-fledged two-year PGDM course provides you with a correct mix of skills, knowledge, and experience to lead you to your dream career path and unfold the answer to the trickiest question “Where you see yourself in next two years?”

Join the Best and discover the best in you.

~Manisha Bothra

A Move for a Democratic Nation

Democracy has never been the word of today’s politics indeed a word that has made history where Shri Bal Gangadhar Tilak quoted “Swaraj is my birthright and I shall have it”. The constitution of India enhanced and proved the democratic environment of the country. The seven fundamental rights were given to the people to practice democracy in the right direction. But unfortunately people in the country have not understood the meaning of them with the application. Right to do whatever you want is democracy for most of the people in India. The right to criticize, right to divide, right to destroy, right to justify and the list is endless with all the rights.

Now the time is here to understand the implications of these rights that have been set by us which should make us realize that there is nothing that we are going to leave for the coming generations. The facts about the increase in pollution are evident in the report of WHO which reveals that 13 of the 20 most polluted cities in the world are in India.

Another man made pollution addition is depicted by soaring figures of smokers in India with 110 million, compared to just 74.5 million smokers over three decades back, despite all the anti-tobacco and smoke-free laws made in the country. Another freedom has been seen with natural disaster by earthquakes, flooding, volcanic eruption, landslide, hurricanes etc. where the onus lies on us for all the creative disasters by playing with nature.

It is not just playing with the environment but playing with each other as well. The question is who would take the responsibility of all these things you, me, government, system. Ideally if we look at it no one would. So the prime responsibility lies on each one of us to make sure that we contribute constructively rather than destructively toward it. If we look at the corporates they have started doing their work with Corporate Social Responsibility being put into action. Now the turn is ours where each one of us will have to focus on Individual Social Responsibility or Consumer Social Responsibility to mark our contribution in right direction the ways it’s implemented in the west. The Americans boycotted the world famous brands like Nike, Adidas, by exercising their right in the correction direction whereas the story is different in our country.

Let us get together and refine the statement of Democracy for all of us so that the right becomes right and not wrong for a better future, nation, world, universe and earth.

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

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

Digitization – A new reality for Finance and Business

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.