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Never too late for an International Degree…IILM offers Lateral Entry to Undergraduates

I seem to have made a wrong choice! I cannot adjust to my college/culture/country! I am feeling homesick! I am not studying anything useful!

If you identify with any one of the above statements, it is time to take a corrective action. A lot of such thoughts come to young students’ minds when they take admission in a program at a particular college in a different country, different state or even their own home state. So much goes into the college admission that many a times these young students feel stuck with what choices they or their parents have made. When these choices have been made for an international college, it becomes even more obligatory to continue given the time, money and efforts spent on it. But even a well thought out plan of an “international degree abroad” or that “Engineering college” or that “close to home college” decision may not work out the way it was expected to be. Should you then just carry on despite feeling disconnected from within? An undergraduate degree is perhaps the most life changing degree that one undergoes. These are the years that help you discover yourself and gain maturity and a direction in life. What use is that degree that does not educate you, does not help you become a better you, does not make you feel excited and motivated for a bright future? Should you continue in that place and college despite no longer being sure of the choice that you made?

But what happens to the time that I have spent at this college, what about the effort that I have made in studying and clearing my exams, what happens to the credits I earned? Does it all go waste and I have to start afresh? If these are the questions in your mind, the answer is a big NO! What you should look out for, is a college that will recognize your efforts and help you continue your studies without a break in your education. At IILM Undergraduate Business School, every year we get several such students who want to revise their initial decision of having chosen a college and an Undergraduate program but are not satisfied with it. You can transfer those credits and take entry into the second or third year and be part of a 25 year old legacy of the IILM Undergraduate Business School (UBS) that has trained thousands of young students like you and made them successful business leaders and entrepreneurs. IILM UBS helps you develop an unparalleled network, learn subjects that are internationally benchmarked, in a hands-on practical manner that prepares you for life.

So if your current course and college does not excite you anymore and you are looking for a reputed college in Delhi that will give you an opportunity to correct that decision, write to us at info.ubs@iilm.edu or call us at 9873949490. Our admission counselor will help you identify the best fit for you.

Prof.(Dr.) Kakoli Sen

Learning Rebooted in Higher Management Education

By Winnie Ranjan who is a Second Year PGDM Student at IILM Lodhi Road

Higher management education has witnessed a radical transformation in a matter of months due to the COVID 19 pandemic. Technology in the education sector has become an integral part of the new normal. This paradigm shift in the education sector has boosted the overall learning process. As a management student, online learning has made me wonder about the different trends and opportunities evolving in the field of education in the coming years.

As a response to the COVID 19 challenge, colleges and universities have revised the courses and subjects offered to students in order to facilitate learning that aligns with the skills required in the upcoming job market. The digital market space has taken another sharp upward turn and has evolved faster than ever before with new powerful sectors leading the pack. Different fields like data analytics, remote management, digital business, technology advancements among others have created even more demand for jobs. IILM has started offering subjects which foster alignment with the required skill sets in the job market.

In the current business world where everything is heavily dependent on data, analytics has become one of the powerful tools for the success of any organization. Considering this scenario, IILM has started offering different analytics-based courses to its students like Marketing Analytics, HR Analytics, Business Analytics, etc. which are in high demand in today’s job market. We also have a course on Python as technology is rapidly changing and learning programming has become crucial for future managers, so that they can provide innovative solutions for problems in the business world.

The lockdown has highlighted the importance of  E-commerce due to the changing behaviour of the consumers. It is very important for management students to learn about E-Commerce for both job opportunities as well as self-employment. Industry experts are delivering guest lectures so that students can gain insights into the practical application and challenges of e-commerce in various sectors.

IILM revamped its courses based on the current scenario and future forecast. It is also offering a course in Logistics Management. Apart from the digitalization in this industry, there has been a lot of changes in the global logistics management and supply chains due to the disruptions brought by the pandemic. Understanding these interactions is very important for managers to manage inventories and plan ahead.

There has always been a concern with remote learning with respect to imbibing social skills. Management students as “future managers” need to work in teams and manage people effectively. To help students incorporate these skill sets, IILM has offered a course on “Managing Virtual Teams” where international faculty have collaborated with IILM faculty members. This has enabled the mutual benefits of global learning for both students and faculty.

It is very important in these high times to interact and engage with students so that they don’t feel isolated and miss out on the personal touch. Business schools are planning sessions where they engage the students through different fun activities, games and other medium. At IILM, we have an interesting career course on “Management Through Movies” where students participate enthusiastically and discuss different movies keeping in mind the management approach.

The past few months have led to the digitization of education which has given rise to many online education platforms like Coursera, Udemy, Byju, etc., which in turn has widened the scope of learning for both students and professionals. In fact, many business schools have made it compulsory for students to take some courses on these platforms so that they can upscale their existing skills. IILM also took a similar kind of initiative and has tied-up with Coursera for providing free certificate courses to its students. Each student has her own strengths, weaknesses, interest area and pace of learning so based on choosing their own courses from a wide variety offered on this platform has been very helpful in providing personalized learning to students.

Looking into the future:

Looking ahead to a time when colleges and universities would re-open, there are higher chances of integration of analytics and technology into the course curriculum. As management students, it is important that we think through and analyze what is happening around us and how we can create opportunities for ourselves and harness these changes to the best for our learnings for a better future.

To learn more about how the new courses at IILM, please visit us at www.iilm.edu

Will India Emerge as the Global Production Hub?

Will India Emerge as the Global Production Hub?

Due to the COVID-19 pandemic that originated in Wuhan, China, the world is facing a major existential crisis. This virus has led to massive destruction and deterioration of resources across the world. It poses the biggest threat to humanity as the number of deaths is increasing at a rapid pace each day. The Governments of all countries are trying to cope with this crisis in the best possible way.

Shifting of Manufacturing Base

Amid all this, there has been a shift in the mindset where big companies or Multinational Corporations (MNCs) are planning to de-risk their supply chain and shift their manufacturing bases from China. The major reason for this is the massive disruption caused to businesses due to actions taken in the wake of the outbreak. Globally, business houses are considering India as an ideal place for shifting their manufacturing setups. They are exploring the option of relocating their supply chains to diversify their business operations. This could be seen in the case of the tech giant Apple which is planning to shift one-fifth of its production capacity from China to India.

Moving out of China

Even though, India ranks at number 63 on the global index on the ease of doing business and China stands at 31 which is way ahead of India. But still, the Governments of various countries are expressly promoting the idea and encouraging a production shift by including it in their economic packages. They are actively assisting firms that are taking action to move their manufacturing units to other countries. For instance, Japan is ready to spend a hefty amount of around USD 2 Billion to support its firms for changing their locations from China to other countries or Japan itself. Also, as the President of the US has explicitly blamed China for this pandemic and global suffering, so the other countries are also unanimously supporting this view.

India a Favorable Alternative

India is being considered as a favorable alternative to China, and the Indian Government is planning on measures that could be taken to attract foreign investment. For the purpose, a committee of bureaucrats and joint secretaries of various ministries and departments has been set up. The Government had announced various schemes in March 2020 which are inclined to give incentives for boosting manufacturing setup in India. The propaganda is to reap the greatest benefits during this time due to this shift in mindset where India is becoming an upcoming choice for most multinational organizations. Because of its market size and being a potential hub for exports, along with quality personnel and talent India has a golden opportunity to take advantage of such manufacturing migration.

Diversify

There has been a huge dependence by developed countries like Japan, the US, South Korea, etc. in China because of the availability of cheap labor. There is a popular saying that “Never put all your eggs in one basket.” So, these countries are rethinking and reapplying this strategy and are now expected to help India in the forthcoming years. There are almost 1000 foreign firms that are considering India as a potential destination for their manufacturing setups. Most of these firms deal with mobiles, medical devices, electronics, and textiles.

Relaxing the Norms

If India is going to substitute China as a manufacturing hub in the coming years, then major reforms in the structure need to be implemented and relaxing the norms and regulations for carrying out businesses with ease. The problem that India faces is the lengthy rules and red tape that deters potential investors from grabbing opportunities and taking actions for establishing production hubs. It is a time-consuming process for getting licenses and approvals for starting a business in India. Therefore, there is a need for certain relaxations in these proceedings so that there is a fair chance of attracting business opportunities to the entrants and has the scope to expand and diversify existing businesses. This would boost companies in making their businesses flourish.

India, having foreseen this golden opportunity needs to move faster in this direction and must improve the infrastructure that is a pre-requisite for any upcoming development. The authorities can take pro-active and prompt decisions so that India does not lose this fair chance as it is not alone in this race to attract investment. Many other countries are eagerly looking to grab this opportunity. It is the right time for India to sustain and populate its “Make in India” scheme and become self-reliant or “Atmanirbhar” as proposed by our Honorable Prime Minister. This is the time to join hands and fighting this pandemic to come out of it stronger and prosperous. This crisis has pushed the economy by many years but this single chance of reviving it by becoming the global manufacturing hub ought to be grabbed with both hands.

What are your suggestions for India to capitalize on this golden opportunity to attract investment from global MNCs? Do comment.

Deeksha Garg

PGDM Student

Dr. Kumar Saurabh

IILM-GSM

A HEALTHY MIND IS THE GREATEST TREASURE TO FIND (Student Blog B.A. Hons. Psychology)

 

Conversations around mental health have always been a taboo in our Indian society. It has been related to how a person might be possessed or simply is dysfunctional to be ever cured; thus not be able to work in an environment to sustain oneself. People in our country are struggling with varied psychological issues that have a direct impact on their overall well-being. There is a tremendous mental health crisis that has been brewing in our society ever since 2015. The problem is aggravated as people believe that mental health issues can be cured by visiting religious centres where God is the only source of direction and solution to cure such problems. Even today, such belief systems have a found place in people’s life which is quite far off from logic and rationality.

Rural areas perceive mental illness very differently. They consider mental illness equal, to be possessed by some evil soul under which individuals facing problems are many times handled quite harshly which leaves a long lasting impact on their mental health & well being. Many times patients whose families are totally unaware of their condition end up abandoning their family members considering them mentally unfit, which leaves a long lasting scar in the life of the suffering person. Lack of mental health awareness has many a time led people from backward areas to a wrong diagnosis which worsens the mental condition of the person, leaving him in a situation where they may have no door to knock.

There is a great need to create awareness about mental health in rural areas, as compared to the urban sector where acceptance and initiative for treatment has taken a positive turn over the years, where mental illness is not seen or considered a taboo to talk and discuss.

Cases of mental illness in urban areas are increasing as people face daily pressures in work and personal lives. Working hours that go beyond the schedule of 9-5, has left people with no time for themselves. Ambitions have over-taken the need for personal care, healthy diet, appropriate sleep and even family time has been compromised giving an open entry to multiple mental health related issues.

Addressing mental health is very important. Once we understand and open up about our struggles we would be in a position to see what awaits us. Living with stress is equal to letting a cancer slowly but steadily grow to eventually harm us one day. Opening up about one’s feeling, emotions, physical symptoms, or lifestyle can be a great start. This will bring focus on the prospects of managing one’s well being. It is like healing a wound which might initially seem quite painful, but with the right diagnosis can cure you to be your wholesome self again pretty soon. The more one explores, the better one feels about his/her mental health condition. Just accepting one’s problem, living with it and not taking corrective action is not a good idea.

One must be very careful, attentive and address any problem they might face. Some symptoms are:

  • Confused thinking.
  • Prolonged depression (sadness or irritability)
  • Feelings of extreme highs and lows.
  • Excessive fears, worries, and anxieties.
  • Social withdrawal.
  • Dramatic changes in eating or sleeping habits.
  • Strong feelings of anger.
  • Strange thoughts (delusions)

It is imperative for a person to seek the help of a professional psychologist, and get the right treatment. People should be made more aware of what mental illness is, through campaigns and workshops.

The first step should be taken by schools to create awareness amongst children and adults of all age groups explaining that “it’s okay not to be okay” and that it’s absolutely normal for boys to cry and experience emotions like pain. There is nothing to be ashamed of. Dedicated counsellors and special educators should be hired in schools, to help people know about mental health issues. Workshops for teachers, parents, and students can be organised to understand how to deal with stress and day- to-day pressures of life. Talking to a therapist should be emphasized upon.

In the end, always remember that mental health issues are never something to be ashamed of. Only when awareness increases in society, will we be able help each other in times of stress and emotional instability because as the saying goes – a healthy mind is the greatest treasure to find.

At IILM University, our Psychology faculty members are trained psychologists and you are welcome to reach out to us for free counselling sessions. Please visit www.iilm.edu.

What mental health needs is more sunlight, more candor, and more unashamed conversation.” – Glenn Close

“Kya Result Aaya?” #Boards 2020

Introduction:

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

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

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

100% Board results-2020

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

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

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

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

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

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

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

Experience the “Joy in Learning at IILM”

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

Conclusion:

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

 

“Every accomplishment starts with a decision to try”

The Future of Financial Analytics

The industry has become so competitive; newfound ventures are posing a challenge to the old giants. Time duration has shortened to achieve targets of becoming a billion-dollar company. It took years for Tata, Birla and Mahindra to join the billion-dollar club whereas Flipkart became a $15.5 Billion company in just 13 years. Innovations in computer and IT fields have changed the way we see a business in the last few decades. The Internet is generating data in Gigabytes every day. Financial analysts explore the financial data and use financial ratios to generate meaningful reports for the company and the competitors. In a VUCA, world businesses want to make the strategy for tomorrow with more accuracy. Analytics answers these business queries. A combination of statistical models and computer software with financial analysis can add cherries in the financial reports. Note that, I am not denying or minimizing the relevance of financial ratios or financial analysis.

Top business schools now not just focus on teaching financial analysis and financial analytics because the later one facilitates predictive modelling. In short, it tells us, what is going to be the next?

Financial analytics is a forward approach. It focuses on identifying the business problem first and provides solutions. Financial analytics is a great tool in the field of risk management and investment. Being In the domain of financial analytics, your concerns are not just finance but all the business operations.

Let us see the few aspects of financial analytics-

#1 News Analytics- Stock prices and investor’s sentiments are highly correlated. News is a powerful tool that affects an investor’s sentiments. For instance, analysts commented on the press conferences of President Trump making an upward move in the US stock market. An analyst needs to create a model that can infer the effect of the news. A business school or MBA program students looking for a career in financial analytics must have an insight into the effect of the news on the stock price.

#2  Credit Risk Analytics- Default of receivables affects the liquidity of the organisation. This branch is very useful for banks and NBFCs. It analyses and predicts the future chances of default and the possible clients that may become defaulter in the future. Lending institutions can take preventive actions for such clients.

#3  Revenue and Pricing Analytics– Pricing covers everything whatever an organization does. A small change in the pricing of the product can create drastic changes in the revenue. While changing the price you need to check how you can increase value to the consumer. And the price must be acceptable to the consumer. MBA in Delhi NCR and PGDM colleges are offering dual specialization. Students with dual degrees in finance and marketing can get good opportunities if they are also interested in playing with numbers in statistics.

#4 Cash Management Analytics- This is a proactive approach to forecasting the liquidity and working capital requirement. It is also helpful in inspecting the blockage of smooth flows of payment. It further optimizes and rationalizes the cash management process efficiently. Some management graduates don’t like to go in the field of the stock market and prefer to be in the area of accounting so they can join this field.

#5 Trade and Supply Chain Finance Analytics- MBA, PGDM or BBA students looking to work not in a specific domain but for a business as a whole can be a part of this field. Trade analytics is all about finding new territories and customers for the products. In marketing language, it is about finding a niche market. However, supply chain finance is related to logistics and financing of the supply chain. Businesses want to minimize the cost that results in a minimum price. An analyst in supply chain looks for the possibilities to minimize the cost of transportation.

We have just scratched the crust of financial analytics. There are several possibilities available for students for job opportunities and businesses to minimize the cost and maximize the profitability. Students facing phobia of mathematics and its related branches must understand that mathematics and its interdisciplinary branches will rule the world in industry 4.0.

In the coming times some people will be either making mathematical or statistical models while others might be implementing these models and take major decisions based on them. Keeping this in view, students looking for Business schools or MBA in Delhi NCR must prepare themselves for Financial Analytics as a career option. All they need to do is work hard and exercise effort while pursuing an MBA / PGDM program to gain expertise in financial analytics.

There is a lot to explore in this area, for more information on Financial Analytics & related readings follow my blogs on IILM Blog site https://blog.iilm.edu or write to me at ashutosh.singh@iilmgsm.ac.in. We look forward to students creating a difference.

 

 

 

 

 

Role of AI in Financial Services

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

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

Impact of AI on jobs

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

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

Emerging Profiles in the Financial Services Domain

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

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

Skills for Future Financial Services

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

Contribution of IILM in your journey

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

Higher Education: A Changing Paradigm

Introduction

The world of education has been ever changing and evolving. The unprecedented situation created by the global pandemic , Covid 19 has prompted higher education institutes to rethink yet again. Educators have been researching on the best ways to inculcate the appropriate skills in students and also making efforts towards bringing the best of talent to teach students. It is a difficult task to design a program that meets the needs of students who are from diverse backgrounds and ensure that they get the kind of education that fulfills their purpose and ambitions.

Teaching Pedagogy

Teaching pedagogies are being developed to include interactive and engaging experiences rather than simple dissemination of information. Earlier research suggests that the essence of teaching lies in the faculty’s ability to reflect on their style of teaching. Critically evaluating one’s own method of teaching by making notes and constant reflection may help faculty to improve the student’s “meta-cognitive awareness” and thus help him become a better decision maker (Cook-Sather, 2012). Education is being seen as a means to enable the student to be ready for the real world. Hence it needs to include more of practical application of concepts that provide students experiential learning rather than theoretical knowledge. Teaching methods have been changing from lecture method to flipped classroom, case studies, and blended learning. Technological advancements have enabled blended learning mechanisms where students can learn theoretical concepts through online lectures and use face-to-face class room interactions more effectively. Organisations like Adobe, Cisco and Microsoft, for their growth and high valuations, are investing in building education as a focused vertical and devising ways to help bring technology to the classroom. The idea is to use the classroom time for meaningful interactions. Many educational institutions advertise their tech- savvy classrooms with pride and showcase the flexibility given to students in completing the requirements of their curriculum.

Student Engagement

Student engagement was highly linked to campus life until now. This included all kinds of engagement – class room interaction, clubs and societies, participation in activities and contests, process of internship and placement services, sports and many more. All these are various ways by which a student’s personality takes shape, makes a student more competitive and responsible and helps in development of leadership skills. The process of engaging students is again being re-thought now to include same services online. Institutions have to use technology and deliver the same course and curriculum to the students through various available platforms provided by Microsoft, Google,  Zoom etc. However there is a constant evaluation of whether the students are truly feeling “engaged” or is it a one sided discourse which ends after a session.  The guidelines provided by Seven Principles of Good Practice in Undergraduate Education (Kuh, 2001) are still relevant from the perspective of being assessed on learnings, value time factor and applying the learnings in their lives.

This continued uncertainty of Covid-19 has made educational institutions look at ways to “manage” the situation rather than reflect on the purpose of education.  In the absence of campus driven activities, student engagement is being looked at differently. The very nature of teaching and learning may undergo a transformational change.  Private colleges like IILM have created Undergraduate and Postgraduate Student Engagement teams working towards understanding the perspective of students and creating a schedule for engaging students. Focused group discussions are being done with students across campuses to understand what students are excited about and what are their barriers to learning and feeling engaged. Several inputs were shared by students which have been referred to here. Instagram pages run and managed by students wherein they can showcase their talents, writing blogs on previous trips made and their experiences, interactive webinars to hone up specific skills and inspiring lectures by industry experts are few of the ways that can promote learning apart from the focus on the program curriculum. The evergreen alternatives of having fun sessions that promote positive interaction, buddy programs for those students who have freshly enrolled in the system, and the joy of being rewarded by peers and teachers for various initiatives are always welcome. Students with writing skills can be prompted to run editorial columns/blogs/newsletters whereas students who are more adventurous can be asked to lead Instagram pages. Social media contests like innovative cooking, gaming and talent hunt are few which can grab their interests and make them feel engaged.

 

 

The Dilemma

There is a marked difference found in the offerings of distance learning and on campus learning’s’ which institutions were earlier using to differentiate as premium learning. Face to face interaction induces better comprehension and teachers can pull students into discussions, design activities for them and provide real time presentation opportunities thereby helping develop the complete personality of the student. A very obvious fact with the on-campus option has been the experience of the student life and its lifelong influence and networks. The thought and the fear of online education impacting the campus/classroom based training has been in existence for many years however it is only the current crisis that has made it look strong. The need for value delivered through sustainable student engagement in various facets and not just limited to academics will have a huge role to play.

Educational institutes will need to think beyond clubs and societies and show their creative side to win and sustain themselves in these uncertain times.  The question is whether institutes will go back to their earlier way of teaching, post Covid -19 or will be able to bring about a more permanent change in their approach to imparting knowledge and look at higher education as a changing paradigm. A lot will depend on how the situation shapes up, however we have to be prepared now.

 

Remedial Plan

Educational Institutes might consider restructuring their current curriculum in order to plan for blended learning.  A combination of online education along with class room teaching would gradually gain importance wherein students can learn the theoretical concepts online, but still have face to face classroom experience wherever necessary. Choosing the right online platform from among the list of options available is also an important factor that will help the institute connect with students and provide different and interesting modes of course delivery and thereby engagement with students.   Maintaining high standards of quality education under all circumstances along with an element of differentiation is a must to create a platform for the institute and to attract students. Overall, institutes will require to rethink their current strategy and approach in order to sustain in this uncertain environment.

References

George D.Kuh (2001) Assessing What Really Matters to Student Learning Inside The National Survey of Student Engagement, Change: The Magazine of Higher Learning, 33(3), 10-17, DOI: 10.1080/00091380109601795

Cook-Sather, A. (2012). Lessons in higher education: Five pedagogical practices that promote active learning for faculty and students. Journal of Faculty Development, 26(1), 33–39.

Myths about Green Economy: Busted

Greenery calms down our eyes and mind. It symbolizes life, freshness, nature, harmony, energy, and fertility. The world is facing serious challenges in environmental front. To motivate people to stop contaminating the environment, Environmentalist, and environmental enthusiasts are using “Green” concepts everywhere. At IILM with a blend of management and engineering, we create Eco friendly surroundings. Same concept is used for green economy.

“An economy is the production and consumption of goods and services and flow of money. Then what is Green Economy? Is Green economy all about planting trees in the world? Let us make it short and simple by explaining Green Economy. Green Economy stands for accelerating economic activities and infrastructure that are helpful in low carbon emission, increase energy conservation, and efficient use of resources.

There are certain myths about green economy, which you will also relay on-

  • Every business around is polluting environment. Agricultural waste makes Delhi’s atmosphere  suffocating every year, chemical fertilizers contaminating underground water. Agriculture a major sector in green economy is polluting our country. Therefore, green economy is just a concept for books.
  • Everything around is driven by fossil fuel. Electricity for metro trains generated from the thermal power plants using coal. In actual we are not conserving the environment. Environmental protection, social benefits and profit making cannot go together. Again, green economy is a myth.
  • Green economy cannot grow like fossil fuel based economy. This economic model will not get acceptability of citizens. So it is a myth.
  • Shifting economy from fossil fuel to other energy sources may result in job loss. Governments won’t be able to afford this, so it’s a myth.

Let us burst the Myths about Green Economy

#Myth-1 Industry transformation in Green Economy

Businesses will get transformed into green economy. Present MSME like renewable energy, sustainable transportation, waste management, green residential areas, water management, land management, fisheries, agriculture, forestry, etc. will work on large scale. There are certain areas in the business that yet to be explored. Organic farming can make agriculture non polluting, healthy and profitable.

#Myth-2 Environmental protection, Social benefits, and profit making cannot go together

  1. J. Kurian of Amul, Shri Mahila Grh Udyog and several other Indian examples has proven that social benefit and profit making can go together. Both of them uplifted the people financially. Government of Gujarat has introduced a project of installing solar panels on 19000 Km long network of canals of Narmada River. Hence, above myth has been proven wrong

#Myth-3 Growth of Green Economy is perceive slow

Renewable energy and recycling can be the key drivers to foster green economy. Availability of energy and raw material economically is the need of industry. Renewable energy is an economic and sustainable source of energy and recycling can provide cheaper raw material. India’s 55% of energy requirement will be covered by renewable energy sources by 2030, if this sector will grow at the same pace.

#Myth-4 Career and Job Opportunities are limited

Whenever technology shifts, it affects the job market, and existing jobs transform. India’s top business schools are carving our future managers and technocrats to work in present environment and cope up with future challenges. Research will play a key role for every student.

At IILM College of Engineering, Department of Biotechnology trains students in hydroponic technology, vermin compost, bio compost etc. Our Alumnus and existing students are working with reputed brands at renewable energy sector. Civil engineers at IILM are developing methods of using non-degradable plastic in construction. This will change the future construction techniques and minimize pollution.

Coming to the end of discussion, I would like to support  Green Economy as- industries can easily shift to renewable energy sources, Green economy will grow at the same pace like fossil fuel based on our  economy there will be no dearth of career opportunities. Green economy will contribute in better health of citizens. Citizens can start practicing basic  fundamentals of green economy by using solar power, compost in kitchen gardens which are  very beneficial in  conserving energy.

For more information on green economy related readings follow my blogs on IILM Blog site https://blog.iilm.edu or write to me at ashutosh.singh@iilmgsm.ac.in

How to Make your Virtual Teaching Interesting for Learners

Change always creates anxiety and when this change is rapid then it creates panic too. Recent changes in an environment completely upset the traditional classroom teaching-learning process. It left no other choice but to move on a new platform for learning that is virtual classrooms.  This transition from traditional face to face teaching to virtual teaching was highly unexpected and too quick to absorb hence given a very strong blow on the teaching-learning process. Moreover, neither the teachers nor the students were trained for such a virtual environment. When I thought about learning through virtual teaching, I encounter two questions. Does any scientific method exist to enrich the learning process? Can learner also enhance their learning?

On the lines ‘the show must go on’, one needs to adapt to the virtual teaching-learning model and should make this interesting for learners. Learners are sitting at the comfort of their homes with too many distractions all around. Learning will only happen when they find interest in lectures and feel engaged.

To increase the productivity of the class teachers might consider the following tricks:

Lay down fundamental rules

At the beginning of the class, the teacher should inform the students about few basic etiquettes to be followed in class. Ask the students to mute their microphones to avoid any disturbance. Students will unmute themselves only if they have any questions to ask or if they are asked to do so. If possible, ask the students to switch on their camera which will increase the engagement.

Engage students

On online platform, students have a shorter time span for concentration. By asking questions to random students in every 5-6 minutes will keep them engaged and hence increase the productivity of the class. At every 5-6 minutes keep asking simple questions and for answers ask students to type in the chatbox. Answers could be just ‘yes/no’ type.

Give control to the students

Generally, in classes teachers speak a lot, and students felt left out and learning stops. It is better to give control to students at times and ask them to interact in the form of discussing with each other in class.

Share content in advance

Possibly, share the content to be discussed in class with all the students in advance so that they are prepared well in advance.

Use easily available, copyright-free online resources

Share content with the students which are copyright free and easily available. Although, too many contents are available freely for all but do not expect that students will search on their own. It is better to mention the URL for the resource material as click and use the material for them.

Avoid information overload

Plan your sessions well in advance such that students will not be overloaded and they have time to practice problems on the topic discussed.

Make use of Multimedia

To avoid boredom in the classroom, use multimedia tools to make the classroom interesting enough so that students’ engagement increases and so productivity.

Record live sessions and share

Don’t forget to record your sessions for the benefit of those students who live in the area with bandwidth issues and not able to attend live sessions. Share these videos with all the students so all can revisit in case of doubts.

There are certain basic rules for students also to make learning effective and efficient. First and foremost, students need to have a reliable and stable internet connection to attend the classes in virtual mode. They must find a quiet corner at their respective places to avoid any disturbance during sessions. If possible, they can use headphones instead of earphones to reduce the noise level. Prepare for your class well in advance. Go through with all the resources shared by teachers. Be interactive during sessions but do not disturb the flow of the class. Either raise a hand or use a chat box in case of any query.

The productivity of the teaching-learning process in the management program will surely be enhanced if both the stakeholders follow the aforementioned tricks. Faculty and students of IILM will surely make teaching-learning much more interesting and productive on a virtual platform.