IILM Graduate School of Management

Greater Noida

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The Importance of GD & PI in MBA Admission

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Your aspiration as a student to attend the most prestigious B-schools is shared by numerous pupils. These institutions promise a bright future and primarily a set of skills and values that establish a strong base for an entrepreneurial personality.

Rest assured that your ambition to get into the top 10 MBA colleges in India can only be realized through hard work. Apart from qualities like punctuality, etiquette and formal attire, here’s a set of things you need to tick off your list to clear the Group Discussion (GD) and Personal Interview (PI) rounds for B-schools:

Group Discussion

Organize your thoughts:  before you set out to the take the group discussion by storm, ensure that you are crystal clear about your own thoughts. Follow a structure and avoid rushing through the idea. Additionally, speak in a clear tone.

 

Take a holistic approach:  A group discussion session proceeds some time to process information regarding the topic. Pen down your thoughts and compare them with a range of conventional and unconventional ideas. Having ample ideas will help you to stretch the debate towards wider areas. Present reasonable points and you’ll have the group’s attention.

Courtesy is the key:  Take care while speaking and try not to come across as aggressive instead of being impressive while making a point. Don’t speak too loudly or too softly and don’t refute aggressively if your point is disagreed with.

Learn as you go: You need to be on your toes during the discussion and grow with the conversation. Listen to each point and moderate your point accordingly. Logically, this requires ample practice and mock GDs with your peers.

Avoid personal opinions and conflicts:  It is advisable to sideline your personal views and think like an academic. Additionally, avoid getting into verbal conflicts with certain members as opposed to respectfully disagreeing with them.

Personal Interview

Prepare the basics: It is a known fact that you will be asked questions like ‘why ’, ‘why this institute’ and ‘how is the course relevant to your experience and expertise’. Your MBA admission depends on how well you answer these questions in addition to questions pertaining to your personal interests.

Confidence is the answer: These interviews are structured to evaluate your confidence by cross-questioning even satisfactory answers. It is, however, only logical that confidence comes with the appropriate knowledge. Therefore, be prepared.

Be honest: The interviewers admire honesty in addition to the aforementioned. Make it a point to answer honestly even if you find yourself short of the correct answer. Think objectively and refrain from answering questions you don’t know about to avoid further cross-questioning.

Mind your P’s and Q’s:  That is to say always act politely to achieve a positive review. Listen to the interviewers in an event where they don’t fully agree with your views. Frame a better response after considering all of their points.

Prepare a good CV:  Apart from staying calm and having a positive body language, ensure that your CV reflects the best of your abilities in a presentable manner. The information on your CV should be precise as it will be assessed meticulously.

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Networking with the IILM Alumni

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Having one of the largest alumni networks in India, the IILM Alumni Network spans over 9000+ well-placed graduates across the globe. Being a graduate from one of the top 10 MBA colleges in India has its perks, chief among them is being a part of an exclusive network that spans more than 30 countries.

Post graduating from the MBA programme, the alumni network plays an important role in your professional life. There are countless examples of new jobs, business leads, and development opportunities for these strategic networks. Whatever your MBA specialization may be, a strong college network is a premier advantage that you receive after graduating.

Networking Impact:

The IILM Alumni Network is an energetic and well-connected set of individuals, with its base strength increasing daily. The network has a passion for enhancing professional development and aiding each other in business needs. Whether that’s mentoring or vendor recommendations, the network provides a strong advantage for individuals who are looking to be a part of a premier institution. With existing graduates showing a positive organization impact, HR departments are keen on hiring those that are in the network of these individuals.

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Diversity:

Diversity is another key component of the IILM alumni experience. With the rich culture of the institution being instilled in all alumni members, the networking opportunity doubles for new students who have diverse backgrounds. For IILM, excellence is a quality that is never compromised, and graduates from the PGDM program have MBA specializations that blend with their diverse backgrounds.

Relationships & Nurturing:

With senior members mentoring new graduates, it’s a win-win situation for all alumni individuals. The relationship that graduates form with senior members creates an overarching culture of innovation, excellence, and instills confidence in all members. Senior members learn about upcoming technologies and key trends, while new members learn core management skills from the top heads of the industry.

Globalisation:

With a rising emphasis on the need for global leaders, the IILM alumni network focuses deeply on globalization. The IILM alumni network spans many countries and regions that are easily accessible through the network’s capability. Graduates can easily reach out to new geographies, industries, and profiles, just by leveraging the power of one of the top 10 MBA colleges in India.

An IILM MBA education is a deeply enriching experience for global candidates. With a large network spanning 9000+ members, the IILM alumni community is one of the most well-connected and professional networks in the world.

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Nail Your College Interview in 8 Steps

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Do you plan to study abroad after 12th Grade? Or do you plan to seek admission in one of the top 10 MBA colleges in Delhi NCR or elsewhere in India after earning your undergraduate degree? In either case, you must prepare for the interview, which is part of the college admissions process these days. Here’s an 8-step guide to acing your college interview –

Do Your Research:

One sure way to impress the college interview board is to research beforehand. Not only does this show that you are keen on joining the college but also highlights your ability to research. During the interview ask a couple of questions about the college; the answers to which may not be available on the website or brochure.

It also helps to do a bit of research on the interview board members, particularly if they are faculty members or alumni. This will help tailor your answers to include areas that may interest them.

Dress To Impress:

Take your interview seriously. Do not dress in denim or turn up in party wear. Dress in professional attire. Your clothes need not be expensive or new but a clean well-kempt look works best.

Come Prepared:

Do not be late for your college interview. Come prepared with all necessary documents and writing equipment. Read the fine print in your interview invitation letter. “Recommended” usually means ‘required’. If your interview invitation says it is recommended that you come equipped with letters from your school teachers or other community members, do not leave these out.

Go Beyond Answers:

Sure, your invitation letter says interview. It is not an interrogation, though. Go beyond answering questions. Come prepared with a couple of questions of your own – particularly about the student facilities or courses that you plan to take up.

Remain equipped with insightful answers to questions such as “Tell us about yourself”, “Why this college?”, or “Why this course?”

See A comprehensive Guide for GD Preparation:

What Makes You An Asset:

Interviewers are always looking for students who will make great alumni. Your academic achievements are certainly important but if you have excelled at sports, arts, or made significant contributions to your neighborhood, the interview is the place to highlight these.

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Put Together A Portfolio:

It is always a good idea to put together a portfolio of your interests and achievements – things you may want to highlight at the interview. If you have done a bit of volunteering or have been part of any social service venture that you wish to speak of if you are an artist and have a curated portfolio, bringing these along may be a very good idea.

Confidence is The Key:

Confidence is the most important factor in cracking your college interview. Keep your tone light and conversational and be ready to questions with a touch of humor. Do smile and make eye contact when you greet interviewers and as you answer them. Talk about your achievements but do not sound boastful.

Follow Up:

Common courtesies go a long way. Thank your interviewer(s) and part with a firm handshake. Follow up your interview with a ‘Thank You’ note if appropriate. A nicely written email will work well in this case.

Visit to IndusInd Bank

Career Development (Placement), IILM Graduate School of Management

They say anyone who stops learning is old, whether at twenty or eighty. Hence, to give wings to the learning objective of aspiring Bankers, the management organised a visit to IndusInd Bank’s M. G. Road branch on 20/12/17. The entire episode was escorted under the tutelage of Prof. Shegorika Lalchandani, who is an Associate Professor of Finance & Accounts. Such visits are an integral component of Career Trek scheme that aims at ensuring that all participants are enlightened with a practical outlook, something that is mundane with IILM’s teaching model.

Visiting one of the top Indian banks certainly added lilies to the bouquet as it gave us a glimpse of a typical work environment in a bank. Eager to grasp all that we could, we were fortunate to meet Mr. Parvinder Singh, who holds the coveted position of Bank Manager. He graciously outlined several notions that drives the banking industry in a crisp fashion throughout a very descriptive conversation. He also briefed about the expected level of understanding, the type of attitude and the right set of skills that a candidate must exhibit to perform and reach to the zenith in banking industry. It is a well established fact that Banking is a very dynamic industry and one needs to be agile in carrying out any operation as a bank employee.

Furthermore, Mr. Singh apprised us with the trends & concepts such as FinTech, Industrial Revolution 4.0, how the sector has evolved in 21st century and how bright the future looks like for Bankers. He narrated a process called ‘4 eyes’ to justify how meticulously a transaction is carried out in a bank to minimalize the possibility of an error/fraud. All operations and activities, are thus carried with rapt attention as any folly could tantamount to severe repercussions. At last, he welcomed and sorted questions escalated by us and suggested that one must always be inclined towards working hard to reap the most desired dividends in life.

In the nutshell, it was an enthralling experience that added interest to our bank of knowledge and intrigued us to possess & analyse with a pragmatic frame of mind to connect better with classroom teachings.

Convocation TakeAways for the Class of 2017

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The convocation ceremony for the 2015-2017 PGDM batch was held on 25th August 2017, with much pomp and splendor at the Lodhi Road Campus in Delhi. Amidst the scenic beauty and serenity, the batch reconnected with each other and came together to celebrate the collective sense of accomplishments. As a new faculty, it was initially difficult for me to connect to the students who are getting graduated as one may not know them. however, I was assigned the duty at the registration desk along with another amazing newly joined and this helped us to know each and every student on the LR campus, to say ‘Hi” to and yes register of course. what a great way to connect!! The last day on campus. no tension to attend classes or to appear for the exam. the joy simply reflected in wearing beautiful n smart dresses and looking extraordinary. the hug and selfies. And much more. The atmosphere was one of celebration inter mingled by some firm disciplinary yet ‘sweet’ scoldings from the faculty and staff with whom they have spent some good as well as ‘challenging’ times!

 

It was a time to reminisce and look back at the two gruelling, adventurous, and life-changing years spent together. The students received their ceremonial robes and graduation caps and proceeded for the formal function.  The convocation marked the end of their journey as students, and marked the beginning of their climb up the corporate ladder. The guest lecture by the Chief guest, Mr. Bharat Kaushal, helped the students to value the education they received in past 2 years. within and without the classrooms!

 

 

The rains were an unexpected guest but it could not dampen the spirit of the attendees. the guests, parents, and faculty had a hearty chit chat and the atmosphere was nothing less than that of a celebration! I saw the whole Rai family, watching like a warm parent, the students whom they nurtured… with joy, pride and best wishes for their great future! The highlight of any convocation is the tossing of the hats in the air and so it was with IILM with faculty running to save themselves from the flying hats! All in all, it was a day of joy, celebration, promises to stay connected and do well for oneself, others and yes carrying the honor and pride of being an IILM alumni.

 

Changing Leadership Competencies in the VUCA world

Career Development (Placement), General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM Undergraduate Business School, IILM University, Uncategorized

In the recent years, the world has continued to undergo a series of transformational shifts. As we know technology has made momentous changes throughout the world, leading to great benefits and adding challenges. Let’s face it, our lives, both at work and at home, are in a constant state of flux. The looming question before us is-“how can we manage effectively in this constantly changing, dynamic situation?” The words of Charles Darwin seem to resonate more poignantly than ever: “It’s not the strongest of the species that survives, or the most intelligent, but rather the one most adaptable to change”. The VUCA environment as we know it. VUCA is an acronym that recently found its way into the business lexicon. It originally derives from the military vocabulary in the 1990’s and reflects volatility, uncertainty, complexity, and ambiguity of general conditions and situations that we all find ourselves in. VUCA seems to be an apt description of our constantly evolving world.

So how does VUCA manifest itself in our lives? Volatility is nothing but the nature, speed, volume, magnitude and the dynamics of change. Gone are the days when leaders and managers would have the luxury of time to plan for the next change. Today the change is here, even before we realize it. Things change unpredictably, suddenly, extremely, especially for the worse. Change is now seen as way of life and we need to constantly adapt and innovate. As Alvin Toffler correctly quotes “The illiterate of the 21st century will not be those who cannot read or write, but those who cannot learn, unlearn and relearn”. Uncertainty is the lack of predictability of issues and events and gets reflected in all areas of individual and social life. It’s the lack of predictability which leads to chaos and anxiety. Complexity of the confounding issues and the chaos that surrounds us. The complexity of the VUCA world is evident. The past, present and future are perceived with confusion, but at the same time are extremely interconnected. This can lead to an inability to be decisive because we find ourselves overwhelmed with both information and choice. Clarity is no longer a commodity that can be easily gained. Ambiguity is the haziness of reality. Today, every decision presents a series of ambiguous dilemmas. Situations and events are open to more than one interpretation, and the meaning can be understood in different ways. This can not only create confusion, but even conflict. Thus, sometimes it may get very hard to make the ‘right decision’.

Since VUCA seems to be the new normal, how can leaders today manage this transition and be more effective? The leadership process needs to undergo a 360-degree change. Therefore, what organizations need today is Leadership Agility and Cognitive Readiness.  The leadership today is a contextual and a temporal process of constant learning and practice. Cognitive readiness is the mental, emotional and interpersonal preparedness for uncertainty and risk and the ability most required by leaders in today’s’ context.

Leaders are therefore required to adapt and change from context to context and it becomes imperative for the organizations today to understand and grasp the new meaning and usage of the word leadership. There is a clear distinction between developing leaders and developing leadership. To be successful in this VUCA world, the leaders cannot afford to lead and guide people, the way it was done a decade ago. Today the leader needs to ‘walk the talk’. Today, most organizations are in a constant state of flux, undergoing radical changes, the leader behavior also needs to undergo a transformation. Some of the successful organizations rely on the following strategies. First, the leader should provide guidance and direction to teams across time zones, cultures and organizational barriers. Second, invest in talent and help nourish talented workers by giving them opportunities to grow and progress, developing a high performance organization is more imperative today than it ever was. Third, closely related to the second, is to invest in people, create a work environment which is engaging and that will foster commitment. Last, but not the least, all stakeholders in the organization (customers, employees and employers) need to be the part of the organization growth curve.

Change is inevitable in organizations and is at a critical tipping point, the increased pace of change in today’s global environment has created even more problems for leaders struggling to help their organizations adapt. Therefore, simply managing change is not sufficient. Successful change, therefore, requires leadership. Change or Perish is the new mantra in this VUCA world……

An Introduction to Structured Products

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Structured products are securities whose cash flow characteristics depend upon one or more indices or that have embedded forwards or options or securities where an investor’s investment return and the Issuer’s payment obligations are contingent on, or highly sensitive to, changes in the value of underlying assets, indices, interest rates or cash flows. They are a combination of a traditional investment in financial assets (like equities, currencies, bonds, commodities, or funds) and one or more derived instruments that are prearranged into one securitized instrument. These products are created to meet specific needs of investors that cannot be met from the standard exchange traded financial instruments available in the public equity, debt or derivative markets. They may be used as a substitute to a direct investment, as instruments of speculation, or as a part of an asset allocation process to reduce risk exposure of an existing portfolio or asset.

Types of Structured Products

Based on the review conducted by Office of Compliance Inspections and Examinations, USA structured products are issued and offered in five basic categories with varying payouts and risks. The most basic category has been referred to as partial or full “principal protected” notes. Such notes typically have returns linked to broad-based equity market indices, such as the S&P 500, and Nasdaq. Principal protected structured products with full protection tend to have the lowest yields, due to their principal protection component. These instruments might have maturities of five years or more, but they usually have a duration of 6 months to 2 years.

Enhanced-income notes – typically pays a higher coupon base and has capped returns tied to the value/performance of the underlying asset and may include at least some level of “principal protection.” The underlying assets for enhanced income notes typically include single stocks, baskets of stocks, and indices. Enhanced-income notes with indices as the underlying reference are typically coupled with increased principal protection and have longer maturities and lower yields than others. These instruments typically have maturities of 5 years or less with the majority having maturities of 1.5-2 years.

Another category, performance/market participation notes are linked to underlying assets such as gold, or investment strategies, such as long-short strategies, that are not otherwise easily accessed by small investors.

Still another category of structured products are the leveraged/enhanced participation notes that offer a leveraged upside. The notes may pay a return two to three times the return on the underlying, usually with a cap on the return and no principal protection.

The fifth category, these basic structures are often added and/or adjusted with each  other to form other numerous varieties, most notably reverse convertible notes. Reverse convertibles linked to a single entity are the riskiest products available to retail investors. In essence investors are, purchasing a security with the sale of a put option embedded in it. The payout of a typical equity-linked reverse convertible note is a high-level interest rate plus a return of principal at maturity if the equity increases in value during the life of the note. In case, if the underlying equity declines below a set trigger price at any time during the life of the note or if the equity closes below the initial level on the valuation date, instead of receiving the principal at maturity, the customer/investor will have “put” to him by the issuer a predetermined number of depreciated shares whose value on the date of maturity is less than the principal amount – while still receiving the coupon payments over the life of the note.

Risks associated with Structured Products

Any investment in a structured product does not provide an investor any right to the underlying asset. Additionally, there are substantial risks involved in a structured product that an investor must be aware of. In the following sections we discuss these risks.

Issuer Risk

Issuer risk or credit risk denotes the adverse effects of a fall in the issuer’s financial condition on the repayment value of the structured product and/or its price in the secondary market. In the event of the insolvency of the issuer, repayment may not be made at the end of the term – which implies the total loss of the capital invested.

Guarantor Risk (Credit Risk)

The guarantor will assume responsibility for paying all or part of the redemption price if the issuer is unable to do so. However participation of a guarantor does not make investing in capital protection products risk-free. For even the guarantors may also become insolvent and therefore be unable to meet their obligations. Investors always have to bear this risk.

Market Risk

Market risk means the risk of a loss that investors bear due to adverse changes in the value of the underlying. This may be triggered by a variety of causes, such as changes in relevant market variables (volatility, interest rates, equity-index levels etc) geopolitical events, lack of market transparency, particular imbalances between the supply of the underlying and the demand for it. An adverse change in the price of the underlying may also be caused by transactions conducted by the issuer in the course of its business activity.

Currency Risk

Currency risk refers to the adverse effects of fluctuations in exchange rates on the repayment value of the product and/or its price in the secondary market. The investor may be exposed to currency risk if the product is based on an underlying in a currency other than the issue currency, or the issue currency is different from the investment currency underlying the investor’s portfolio.

Liquidity Risk

Liquidity risk denotes the possibility that the investor may not be able to dispose of a structured product at any given time or at a reasonable market price because no binding prices are quoted for it. Additionally, demand supply imbalance in the secondary market of the underlying may lead to a bid-ask spread that may even result in the failure to sell the structured product (secondary market risk).

Commodity Risk

Investments in commodities may be subject to temporary illiquidity or larger price fluctuations compared to normal investments. This may result in a partial or total loss for the investor. Additionally lack of standardization may lead to an information deficit regarding the quality of a commodity. This can entail an increased risk for the investor. In case of physical settlement, it can be very expensive or even impossible to acquire the commodities to be delivered.

Emerging Market Risk

Emerging market risk refers to the possibility of a loss arising out of political instability, a weak economy, and/or relatively unpredictable financial markets and economic growth patterns. Insufficient or a lack of market supervision can further lead to a situation where investors cannot, or cannot easily, assert their legal rights. Moreover, legal systems that are not adequately regulated by government institutions can lead to substantial legal uncertainty. As emerging markets are more volatile, investors may suffer temporary, partial or total losses.

Structured products in India

Prudential ICICI in association with Deutsche Bank introduced India’s first capital-protected constant proportion portfolio insurance (CPPI) product for Indian investors, christened the Principal Protected Portfolio (PPP). In terms of market share, evidence suggests that capital guaranteed instruments are the most popular in Indian markets accounting for 83% of the market share. The most recent issue of such an instrument by Edelweiss Capital, ICICI Securities and IIFL Wealth Management is a form of secured non-convertible debenture (NCD) with a 18-month lock-in but investors get an option to sell before this period as the instruments are listed on exchanges. The product aims to benefit investors from the monetary easing expected from the RBI in the near term.

However, more exotic structures account for a miniscule part of the total market, possibly reflective of the emerging market risks that (global and domestic) investors face while investing in India.

Book Review:An Uncertain Glory: India and its Contradictions

Alumni, IILM Graduate School of Management, IILM Institute for Higher Education, IILM Undergraduate Business School, IILM University

Authors: Jean Dreze and Amartya Sen
Published by Penguin Books ( 2014)
ISBN No. 978-0-141-97582-5

An Uncertain Glory: India and its Contradictions is published by Penguin Books in 2014 , wherein the two economists Jean Dreze and Amartya Sen pose a question that who are the actual beneficiaries of this growth. The book is an eye opener on two fronts one that the growth is not participatory and two public sources generated by economic growth have not been able to improve the living conditions of people at large.
There has been a lot of discussion on the caste, religion, gender discrimination, regional disparity and languages. But, ever increasing income inequality has often been obscured in all these discussions. In modern India this seems to be a major concern area wherein there has been a widening gap between the deprived community and ever growing opulent rich class. This book by Dreze and Sen narrates this divide between the privileged and ignored society as one of the biggest challenge which has seldom been highlighted in all the literature which has been creating a hype of ever growing and prosperous India.
An Uncertain Glory thus, is equally of interest for readers coming from economic, social and political background as it reveals the story of India’s development. There has been an implied notion amongst political and economic logics which believes that the benefit of economic development will eventually trickle down from the higher levels to the grass roots leading to development with a broader base. But, the fact here is that neither the colonial past nor the policies post independence addressed the issues of poverty, illiteracy and inequality effectively.
The country has overseen the rapid rate of growth which has successfully employed the skilled people and wealth accumulation for a few corporate. There has been a surge in the living standard of middle class. Despite this fact, India has experienced a lack of political will which could utilize growing resources for improving ‘education, healthcare, nutrition, social facilities, and other essentials of fuller and freer human life for all.
The authors demonstrate that “India is not doing well at all in many respects even in comparison with some of the poorest countries in the world” outside of sub- Saharan Africa and even in South Asia though ahead of neighbors in terms of per capita income, India’s developmental indicators stand ahead of only Pakistan, a country with a perpetually disturbed political situation.
Dreze and Sen have strongly raised an argument that markets cannot allocate the resources effectively in the area of education, healthcare and infrastructure services due to inherent externality effects and the state intervention thus becomes inevitable. But, along with that the public services in India have been suffering with the malaise of corruption and lack of accountability .These problems somehow are a major cause of ever increasing inequality in the country. Dreze and Sen have thus spoken about education especially at a higher level as an escape route for the unheard millions. This might curb the established practices viz. corruption and bribery.
The book becomes more relevant in the context of understanding the economic development process as there are solutions been given for global and local issues. The authors have emphasized upon the fact that high level of human development in Europe, Latin America or East Asia – plus others even among India’s South Asian neighbors such as Bangladesh and Sri Lanka are a result of prudent and rationalist intervention of the government. Although some of the state government like Kerala Tamil Nadu or Himachal Pradesh have successfully been able to provide public services like education, administration and addressing economic inequalities as compared to states with poor governance like Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odhisa, Rajasthan and Uttar Pradesh. In these states living standards are no better than some of the poorer states in Africa.
The ability of the government to hasten poverty alleviation, secure gender justice and produce a corruption-free society can only be ensured by informed political selection. While much has been made, and rightfully so, of India’s democracy, evident in the size of the country, the variety of political parties, a largely free press as well as in the ability to sustain the democratic process amidst vast poverty, Dreze and Sen stress India’s need “to make much greater use of the democratic system.” It is in this optimism, which recognizes that India indeed possesses the means of achieving broad development for all, that An Uncertain Glory maintains a tone of hope amid grounds for despair.
The book by Dreze and Sen is a powerful, thought provoking and strong narration of pertinent issues which have been ailing the country since long. The book highlights the range of both the contradictions and possibilities inherent in the country.

IILM Placement Week 2015 – Experience the Buzz Around!

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It is finally that time of year at IILM campus. Yes, the recruiters are here to cherry pick the best students in the lot. As our students brace themselves to answer that one question, “how to choose the right career path?” IILM is all set to put up a showcase the most awaited gathering of the year. We are glad to announce that some significant companies are ready to put their positions in front for the current academic year’ campus placement drive, starting October 5th – 9th 2015, across all three campuses of IILM– Gurgaon, Greater Noida and Lodhi Road Campus.

Campus mood was in the range enough to upbeat the excitement going through the students and placement faculty in charge.  With companies coming in from as many as 60-80 group of corporate and start ups from diverse industries and functional areas across all campuses. To name a few, companies made a mark on IILM campus are  – Yes Bank, Accenture, Eazy Diner, Kotak Mahindra Bank, Bajaj Allianz, Fortis, Oyo Rooms, Genpact, Zenica, Tybros, Naukri, Jabong, Askme.com, Oxigen , Policy Bazaar, Edelweiss, Koovs.com, GroupOn.  Hence, it is very important for students to understand the seriousness of such an event and be prepared to show their skills, knowledge, academic grades and the ‘will’ to step on the ladder of success.

IILM helps each student in exploring placement opportunities by inviting various companies for campus recruitment. It is essential for students to portray their capability along with consistent performance that they have achieved in their academic performance with the right pitch and tone. The hiring managers of different companies come with some specific requirements as depending on positions being offered and company requirements.

All in all, like every year, the final placement drive at IILM is the result of a very systematic interaction with the industry and continuous career counseling and grooming of the students. Simultaneously, sessions of mentoring help the students in getting their ‘dream’ jobs but also assists the visiting placement companies in identifying the ‘right’ candidate for their organization.

Stay updated with us – some exclusive bites coming up straight from our students and company recruiters on IILM blog.

Valuing the ‘Value based Education’

Alumni, IILM Graduate School of Management, IILM Institute for Higher Education, IILM Undergraduate Business School, IILM University

Value Education, a process by which values are inculcated among people. It is transmitting a set of values which often come from religious customs or societal or cultural ethics. “Life is precious”, everyone knows that.  However, If life is so precious, the values governing the life are equally important. Morals and Values are nothing, but a code we adhere to for living in a society which is civil and just.

 

Values in education are the virtues that make up a human being. Values mould our behaviour, relationships, choices, and the sense of who we are. The greater the positivity in our values, the greater will be the positivity in our actions. This is one of the reasons for value based education being included in all types of learning, because it plays a great role for student’s becoming successful in their self chosen careers.  Education is the vehicle of knowledge, success and self preservation. Education not only provides a platform for success, but also the knowledge of social conduct, character, strength and self-respect. The greatest gift that education bestowed upon us is the set of values (Indrani, Beena, 2012)

 

In today’s “Market Oriented” society, Children are groomed to be professionals to grab the top paying jobs in the market. Therefore, while it is necessary to teach the child to fish instead of giving him a fish it is values that make a man. These values include the simple difference between right and wrong, a belief in God, the importance of hard work and self-respect.

 

Liberalization, globalization and industrialization, have led to rapid changes in almost all social sciences, thereby leading to vast changes in the value systems, attitudes of people and the overall education system. The greed for money, power, fame, success and other materialistic attributes have led to a scenario of moral degeneration worldwide. The following characteristics prove the downfall of values and moral in today’s world.

 

  • Lack of respect for the sanctity of human life.
  • Breakdown of parental control of children in families
  • Lack of respect for authority, seen through the brazen breaking of the law and
  • Total disregard for rules and regulations
  • Crime and corruption
  • Abuse of alcohol and drugs
  • Abuse of women and children, and other vulnerable members of society.
  • Lack of respect for other people and property.

 

“Seven sins: wealth without work, pleasure without conscience, knowledge without character, commerce without morality, science without humanity, worship without sacrifice, politics without principle,” Mahatma Gandhi. Surprisingly, these have become a part of every person’s life in today’s world.

 

The solution for these problems stems from their root causes itself. We know that children today are tomorrow’s citizens. Good education to the present day children, the future of the next generations will be well. Education seems to be the solution for all types of the problems. Living in the modern century, use of science and technology in the proper way will curb all difficulties to solve all the problems of the non-moral and value things. The main objective of the study is to inculcate moral and value based education in schools and colleges and to know the attitude of intermediate students towards moral values.

 

The objective of education in a country like India, which has an incredible heritage and  diversity in geography, values, culture and beliefs, rarely seen in this wide world, should be to educate a student of the value system which is indispensable to live successful life (Das, Sayan, 2008).

 

Considering the above mentioned fact, apart from schools, value education is now being propagated at the college level also. To quote an example, Commissionerate of Collegiate Education, Andhra Pradesh State, has launched value education for the promotion of ethical values among degree college students.

Under this programme, all degree colleges across the State will conduct value education classes for the students of degree first and second year compulsorily from this academic year onwards (The Hindu, 2013).

 

Education is an effective weapon. Education is a weapon, whose effect depends on who holds it and at whom it is aimed (Joseph Stalin).

 

Through education we can change the world. Following few steps can help us mould today’s students into civilized citizens of tomorrow.

 

  • Including moral values in the curriculum.

 

  • Stories, illustrations, poetry, and novels can inculcate moral values in the students. Role play of a good story can facilitate a better understanding for the students.

 

  • Students can also be educated through posters, advertisements and dramatizations.

 

  • Giving course training to students to develop moral values in the society.

 

  • Educating all women in the society. Mother is the first teacher. Motivate every woman to know about moral values, may be through a special course like “Gandhian Studies” (Indrani, Beena, 2012)

 

Values do not only talk about our attitude and behaviour towards other people but also other species on the earth such as plants and animals.

 

To cite an example, United Nations Educational Scientific and Cultural Organisation (UNESCO) has developed a module on values education for its multimedia teachers’ education program on “Teaching & Learning for a Sustainable Future.” This module provides an opportunity to understand the importance of human values and attitudes in shaping the future. It also provides ideas and examples for two categories of strategies for exploring values in the classroom – values clarification and values analysis (UNESCO, 2010).

 

This module is delivered using four activities namely, “The Elephant Dilemma” which reflects the values about the animal conservation through a case study ‘The Elephant Dilemma in Africa’; “Towards and Ethic of Sustainability” depicting the basic relationships that people have with the Earth and with each other and lastly, “Values Education Strategies” to develop principles for dealing with values-laden issues in a professional and ethical way (IUCN, WWF and UNEP, 1991).

 

According to Father of Indian Nation, M. K. Gandhi:

 

“If wealth is lost nothing is lost

If health is lost something is lost

If character is lost everything is lost”

Best of all things is character.

 

Values and ethics help to build a great character. Thus value education completes this need very easily with an impact on the young minds making the world a better place to live in.

REFERENCES:

 

 

Das, Sayan (2008). Value based education. http://theviewspaper.net/value-based-education/ accessed on 18th May, 2015.

Indrani, Beena (2012). Importance of Value Education in Modern Time. Education India Journal: A Quarterly Refereed Journal of Dialogues on Education, ISSN 2278-

2435, Vol. 1, Issue- 3.

 

IUCN, WWF and UNEP (1991) Caring for the Earth, WWF, IUCN, WWF and UNEP, Gland. https://portals.iucn.org/library/efiles/documents/CFE-003.pdf, accessed on 21st May, 2015

 

The Hindu (2015). Value Education for Degree Students. http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/value-education-for-degree-students/article4822142.ece accessed on 12th May, 2015.

 

UNESCO (2010). Teaching and Learning for a Sustainable Future http://www.unesco.org/education/tlsf/mods/theme_d/mod22.html?panel=1#top

accessed on 29th April, 2015.