Guide to Professional Networking and Job Search

Exam Watch, IILM Institute for Higher Education04 MayMs Mini Biju DanielCommunication, Flexibility, Initiative, Job Search, Leadership skills, Motivation and Enthusiasm, Organization and Planning, Positive Attitude, problem solving, Professional Networking, Self-Awareness, Self-Management, Teamwork, Thinking Skills, Willingness to Learn

Only a handful of us, hold jobs that are directly linked to our past work experience or academics. And in the era of opportunity in disguise where talent hunt and job seekers are at parallel lines. “To Bridge this gap” I wanted to pen down a few mantras, through which Job seekers could make themselves visible and how talent seekers could findtheir potential candidates.

In today’s scenario, seeking employment is mentally and emotionally draining. It even begins to affect your self-worth. Efficiency is what is required in job hunting, with holistic views and of course knowledge and use of technology. All institutions are helping students to make use of the technologies for future growth. As, in the present scenario, technology is utilized to improve teaching and learning and help our students be corporate ready.

On a daily bases we get to see Job openings with profile descriptions on various Portals – Linkedin being one of the best social professional platform. Bases your interest- Whenever you see such posts, make sure that you share or drop a “like”or “comment.” You spend only a few seconds but could be a life-changer for someone who is looking out for an opportunity. It will increase their visibility and even help you find desired key words for your resume, which would indeed attract the recruiters. By sharing the post – You may not be able to get them a job, but someone who might be able to, may see it. This is what “Linkedin” and true networking is all about. Let’s join together and help each other out.

Incredible potential were missed out during the earlier system of hiring. With the use of new methods and technology, the advances in robotics and machine learning are transforming the way we work. We should be open to multi task at this juncture and should be willing to do jobs we’ve never done before in our careers. So what are the tools and strategies we need to identify tomorrow’s high performers? In search for answers, I’ve consulted with many of my colleagues, across many sectors, read number of reports and conducted some of my own talent try-outs. My hunt is far from over, but here are few ideas the can lead you to the desired profile.

1. Explore to the maximum

If we only look for talent in the same place/s, as we always do – top notch universities / institutions, reputed schools, prestigious organizations — the results are the same. There’s a lot of talk about the importance of clarity and vision with each step of the search. Your computer, tablet, or Smartphone holds a wealth of information. If you know what to look for, you have access to an unlimited number of learning resources, job search portals and we can make the best use of it.

For example, say you’ve been searching for a job role of “Manager of Marketing” for a while without any luck. Depending on the company, a “Chief Marketing Officer” position might demand the same skills as a Manager-level position. Instead of relying on the job title to determine the scope and function of the role, read the whole listing to discover what’s actually being asked for.

Be especially cautious of the term “manager,” it’s one of the most confused terms in the career world. One organization’s “Marketing Director” might, in fact, be an individual contributor, whereas a “Marketing Manager” with a different company could lead a team of ten members. The point to be noted is, this again depend upon the size, hierarchy of the company.

No issues, it’s about opening up your search by navigating the shortcomings of job! As long the search should be right, keep initial words, read Job Description thoroughly, understand what the company is asking and see if or as a role fits with the bulk of your non-negotiable (like pay, company type, or location), it’s worth exploring further.

2. Performance should speak

Inspired by my own job experience, as a hiring platform called “Linkedin,” which gives candidates an opportunity to polish the various capabilities like the Data Tool, Basic Excel, STRATA, Programming, Tableau Public, Python, SAS; etc. If you’re hiring a data analyst, give them a spread sheet of historical data and ask them for their key understandings. If you’re hiring a marketing manager, have them plan a launch campaign for a new product. And if you’re a candidate, don’t wait for an employer to ask. Seek out ways to showcase your unique skills and abilities outside of just the standard resume and cover letter.

However, employee selection is the process of putting right men on right job. It is a procedure of matching organizational requirements with the skills and qualifications of people.

3. Don’t wait – Explore all job portals

Applying online is instantly gratifying / rewarding. You can apply to 20 places in one sitting and feel incredibly productive. Also most jobs aren’t publicly advertised?? So why to wait…?.

How to access this secret underground job market?

Start by making a list of your dream companies you want to work for. Organize your list based on whether or not you have the right skill sets. If you already know someone there, put that organization on one side of the list, and send an email and fix for an appointment and then take it forward. For everywhere else, you’ll need to make a new connection, which increases your contact and add to your network.

4. The Big Picture

I’ve heard about recruiters who are quick to tag a candidate based on a single short stint on their resume. Try to get a rounded view of the person; otherwise our judgment of them will always be imperfect. For that, let’s stop associating experience with ability, credentials with competence. The employers should leave back the out-dated hiring practices and embrace new ways of identifying and cultivating talent, and candidates can help by learning to tell their story in powerful and convincing ways. We could live in a world where people are seen for what they’re truly capable of and have the opportunity to realize their full potential. So let’s start to construct it.

5. Top Essential Employability Skills and most Transferable in-demand Skills

Various skills in enterprise are role defined, while others can be utilised in all job roles (multi takers). The Manageable skills develop through learning during our career – know what they are and set targets for improving them to maximise the job evolution.

Few of them are:

(a) Positive Attitude

Having positive attitude helps you cope more easily with the daily affairs of life. It brings confidence, and avoids unnecessary problems. If the change is adopted in one’s life, it would bring constructive changes, keeps everyone happier, cheerful and more prosperous.

(b) Self-Management

Success starts with self-management. It is an acquired art. Setting goals and managing time comes out of self-management. It develops the attentiveness skills which will help to overcome the temptation of delay.

(c) Willingness to Learn

Be always open to new learning and cooperative. Be willing to learn from others and share knowledge

(d) Thinking Skills

Thinking skills are the mental state of mind that we apply when in need. It enables us to assimilate each new experience into the diagram that we are constructing or imagining of “how things are”

(e) Flexibility

Flexibility in workplace allows employers and employees to make arrangements about working conditions that suit them. This helps employees maintain a work / life balance and can help employers improve the productivity and efficiency of their business.

In today’s world, employees will be expected to specialize in your role to some extent, although understanding the functions of your colleagues’ positions and departments will allow you to work with them better. Being flexible means making time for others and not expecting them to respond to your requests instantly. Look for examples of how your flexible approach to work will benefit the company.

(f) Motivation and Enthusiasm

Whoever hires you, the employer is investing in you, so they need to see that you are passionate about working and interested in your career. If you are lacking in motivation this may have a negative impact on your work.

(g) Initiative

Highly valued in job – is your own initiative. An employer needs to know that you can think for yourself. Approach this with thoughtfulness and start small, you have got your whole career to develop your skills. Kindly note, for any activity please do not act smart or outside of your authority.

(h) Organization and Planning

Prioritization of tasks and time management are the key factor for any job role. You need prove your administration skills to your next interviewer that you will be able to perform to your full ability and excel in your role.

(i) Communication

Effective communication is essential for any job role. Employers need to know that you are capable to express and explain your thoughts to anybody in the organization and also able to realize the viewpoints of others.

(j) Teamwork

Teamwork is often a crucial part of any job role, as it is often necessary for colleagues to work well together. Teamwork means that people will have to cooperate, using their individual skills and providing constructive feedback, despite any personal conflict. Employees get opportunity to work in groups and communicate with people from every department of the company in order to prove and deliver results.

(k) Leadership skills

Leaders take responsibility and delegate tasks effectively. Most roles involve at least some aspect of leadership, especially beyond the initial stages of your career. Look for opportunities to manage projects and other people as early as possible to begin developing this key transferable skill.

(l) Problem solving

Workshops / Training can only take you so far, sometimes you will find yourself in a situation where you need to figure out a new solution. Make a note when you really have to dig deep and figure something out. Try to use examples in your interviews to convince the interviewer.

(m) Self-Awareness

Try to recognize your areas of weakness and improve it. It is almost as important as developing and using your strengths. Your potential employer needs to know that you realise, you aren’t perfect. If appropriate, mention areas you are keen to develop in your new position, (eg. go for trainings, attend conferences, etc.) as well as presenting the skills you bring to the role.

Finally the ability for search in jobs lies in the capability and adaptability of the job seeker keeping in mind the competitive scenario today. There is “No ‘Job Shortage” – but using the right platform and skills will enhance the job seekers to accomplish his/ her goal. The job seeker should however, be well equipped with his or her strong and weak capabilities to channelize his / her root of career.

Mini B. Daniel
Associate Professor of Communication

IILM’s Top Ten Non-fiction Books for Students Under Lockdown

Campus Life, IILM Institute for Higher Education04 MayAtima MankotiaBooks for Students Under Lockdown, Non-fiction Books, Top Ten Non-fiction Books

World Book Day was recently celebrated on April 23, 2020 to reiterate the importance of books and reading in our lives, something that IILM believes in and inculcates in its students. The first World Book Day was celebrated on 23 April in 1995 and continues to be celebrated on that day. The original idea to celebrate this day was of the Spanish writer Vicente Clavel Andrés to honour author Miguel de Cervantes who died on 23 April. In 1995, UNESCO too decided that the World Book and Copyright Day would be celebrated on 23 April as the date is anniversary of the death of not just Cervantes but also of William Shakespeare and Inca Garcilaso de la Vega, a historical coincidence.

IILM encourages its students to read by stocking the library with interesting books that are not text books and by Book Clubs and Societies. During, the lockdown, students are at home with ample time on their hands so IILM has decided to share a list of books with students to guide them about what to read.

Why is reading so important and why does IILM emphases and focuses on reading? Reading expands one’s horizons, improves one’s written and spoken communication and language and most, importantly, reading allows one to think critically and form opinions. Reading, by increasing a people’s knowledge of the world, opens their minds to a plethora of information, that not only allows them to gather more knowledge but also allows them to think on their own and be able to analyze and justify those thoughts.

With so many benefits of reading, please IILM urges to use this time to cultivate the habit of reading.

IILM has put together a list of top ten non-fiction and fiction books that IILM recommend for students to read under lockdown. Today we share with you the list of non-fiction books, i.e, books that are informative or factual rather than fictional.You can choose books that interest you. Most of them are available on kindle and soft copies of some are even available free online. You can even choose them as audio books and hear them.

You do not have to read all. Even if you read one book it is a beginning.

Happy reading!

Top Ten Non-Fiction Books by IILM

1. Jonathan Livingston Seagull by Richard Bach: A simple and easy book to read with depth of life’s philosophy, Jonathan Livingston Seagull is an ode to self-determination through transcendence of the body and discovery of the limitless nature of the mind and the spirit. The story is told through Jonathan, a seagull, who longs to be in control of his own life and govern himself independently of his dominating, small-minded Flock and how he achieves it.

2. Who Moved My Cheese by Dr Spencer Johnson: An easy read with text interspersed with illustrations, this is a self help book where ‘Cheese’ is a metaphor for what you want to have in life – it could be a good job, loving relationship, money or health. The very core message of the book is that things constantly change so we must adapt. The quicker we adapt a change the more satisfied we will be.

3. The Monk who Sold his Ferrari by Robin Sharma: An inspiration book, The Monk Who Sold His Ferrari tells the extraordinary story of Julian Mantle, a lawyer forced to confront the spiritual crisis of his out-of-balance life, and the subsequent wisdom that he gains on a life-changing odyssey that enables him to create a life of passion, purpose and peace. What readers all over the globe appreciate about this book is its deft amalgam of the philosophies from both western and eastern worlds.

4. The Prophet by Khalil Gibran: The Prophet provides timeless spiritual wisdom on a range of subjects, including giving, eating and drinking, clothes, buying and selling, crime and punishment, laws, teaching, time, pleasure, religion, death, beauty and friendship. A book of 26 prose poetry fables written in English by the Lebanese-American poet and writer Kahlil Gibran, corresponding to each chapter are evocative drawings by Gibran himself. This book, written in beautiful verse, is a guide to many situations in life.

5. How to Win Friends and Influence People by Dale Carnegie: This self-help book published in 1936 has sold over 30 million copies worldwide, making it one of the best-selling books of all time. Carnegie shares 12 ways to improve. These include the ability to make friends quickly, increase popularity, boost influence, win clients, raise your salary, make you a better salesperson, and help you inspire coworkers to increase their excitement and productivity. The simple concepts put forward by Carnegie are timeless and continue to be relevant.

6. The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change by Stephen R. Covey: This book hit the business and self-help book list like a hurricane in the early 1990s. Drawing on aspects of the philosophies of ancient thinkers like Aristotle, Benedict, and Cicero, Covey repackages some of the foundational precepts into easily understood lesson for the current audience. The author’s tone is positive, pushing readers to believe that anything is possible with a can-do attitude and solid determination. It is a book that reminds that we are always in a constant state of improving ourselves both in our personal lives and professional careers.

7. First, Break all the Rules: What the World’s Greatest Managers Do Differently by Marcus Buckingham and Curt Coffman’s: This is an interesting read for Management students because the main premise of the book is that despite differences of backgrounds, educations, cultures, and leadership styles, successful managers share one key component – the tenacity to break every rule held sacred by conventional business leadership. The concepts delivered are not specific to any one type of organization or manager providing specific ways a manager can improve her leadership and make her organization more effective.

8. Thinking, Fast and Slow by Daniel Kahneman: This international bestseller goes beyond self-help philosophies to unveil where success begins – in the mind. Kahneman introduces and explains two systems that drive the way we think – System One and System Two. The first system contains emotional, intuitive, and fast-paced thinking. The second system is described as logical, more deliberate, and slower. The author argues that understanding these two systems is imperative to know how to make the right decisions in the professional and personal realms in which we exist.

9. Sapiens: A Brief History of Humankind by Noah Harari: For those interested in the history of the humans this is the author’s account of how the humans conquered the Earth. Some of his theories astonish with their scope and imagination. Yuval Noah Harari’s Sapiens avoids simplistic explanations of the evolution of the sapiens and offers an exceptional retelling of the human story seasoned with many personal reflections on man’s tenancy of the planet.

10. The 5 am Club by Robin Sharma: The 5 am Club is a trailblazing and astonishing story of two everyday human beings seeking greater productivity, prosperity and serenity in this age of digital distraction and overwhelming complexity who meet a most weird and wonderful tycoon. The book that talks about how great geniuses, business titans and the world’s wisest people start their mornings; the formula to wake up early feeling inspired, focused with a fiery drive; and a method to protect the quietest hours of daybreak, unfolds a neuroscience-based practice proven to make it easy to rise while most people are sleeping.

Consumerism or Spirituality: Learnings of Kabir Das for Gen-Next

Faculty, General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM University, Uncategorized03 MayDr. Kumar Saurabh

According to a Mckinsey report, the spirituality among the Indians is decreasing while consumerism is on a rise. For the very same reason, India is now known as one of the biggest market places in the world. The things which used to be luxury for our grandparents and parents have now become necessities for us. Also, our parents used to buy things for a lifetime but we buy things for just a few years or even for just months. This kind of shift in temperament is visible in various other studies also as when the whole world is now moving towards contentment we are still on the path of dissatisfaction. On the one hand, when the entire world is moving towards spirituality Indians are tilted towards consumerism.

GDP Growth to Happiness Index

The world has moved beyond mere economic development to the well-being of individuals. Presently, the growth of a nation is just not reflected in terms of GDP growth figures rather it is being measured in terms of happiness index. Since 2012, the United Nations have also come up with a study on the happiness of people across countries each year to recognize the happiness quotient of people and their well-being in place of economic development only. Since the beginning, India consistently ranked at the lower strata of countries in the world’s happiness ranking. The same story continues even in this year also as according to World Happiness Report 2020, the performance of India is very dismal in terms of ranking on Happiness Index as it ranked at 144 out of total 156 nations much below than the neighboring countries like Pakistan, Nepal, Bangladesh, and Sri Lanka which are ranked at 66, 92, 107 and 130 respectively.

To be Spiritual Guru

In the World Happiness Report, the main factors considered for the Happiness Index of individuals are the social environment and the ability to make decisions of life. At present when India is urging to be recognized as the ‘Spiritual Guru’ of the world it is the time when we need to dig out the learnings from our own old and probably forgotten literature to improve our ranking by increasing the well-being of Indians. India, a land of sages has a very rich source of wisdom in the form of religious and philosophical literature. India is a country that had philosophers who themselves have not gone through with any formal schooling and even they don’t know the art of writing but they have given us the mantra for content and satisfying life. Considering Kabir Das, a mystic poet, philosopher and saint of fifteenth-century who himself mentioned as illiterate as in his own words about himself ‘Masi kagad chhuyo nahi, kalam gahyo nahin hath’, he clearly said that he neither touched the paper nor hold the pen in his entire life but have given a wonderful message for a satisfying and happy life.

Consumerism

On consumerism, we can take a lesson from the work of Kabir as ‘Maya mari na man mara, mar mar gaye sharer, asha trushna na mari kah gaye das Kabeer’, the meaning of this verse is very apt that if we go for desires then will never be able to fulfill all instead we will lose ourselves by mere running behind them. Desires are like hallucination and they are never-ending, individuals can keep on fulfilling one the other will keep cropping up the very next moment which leaves us dissatisfied and discontent. So, the lesson which one needs to take that one should always look for needs not for desires because needs are limited which can be fulfilled and can be satisfied while desires are unlimited, and falling prey to your desires is like being in a vicious cycle which has no exit route.

Practice Satisfaction

Furthermore, Kabir also said, “Saain itna deejiye, jaame kutumb samaye. Main bhi bhookha na rahun, sadhu na bhookha jae”, with this he wants to convey that don’t be part of a rat race of earning higher and higher which will keep disturbing you and will not let you be satisfied. The desire for higher earnings will keep you in stress and dissatisfied so instead pray to the almighty for the earnings which are sufficient to meet your needs and to look after the needs of your dependents.

So, if we follow this one simple advice of Kabir to be content and don’t be a victim of our desires then one neither feel dissatisfied by comparing oneself with others nor one feels like losing control on ones’ own life. The aggregate of our feelings of contentment will surely reflect and will have a much-improved ranking on happiness index with the use of learnings of our rich cultural heritage in terms of literature.

Now the biggest question is ‘Which side you want to be?’ To be part of the rat race of consumerism or to follow the path of spirituality, guided by sages for ages. To get more on the subject can approach at kumar.saurabh@iilmgsm.ac.in.

Dr. Kumar Saurabh

Assistant Professor-Finance

IILM Graduate School of Management

How IILM keeps students motivated to learn

Campus Life, IILM Institute for Higher Education, IILM Stories02 MayDr Oly Mishrahow to motivate students, IILM, IILM keeps students motivated

Motivation sooner or later fades away if it is not fed every day.

To keep one motivated requires an investment of time, effort, and energy. However, it is a worthwhile effort. In the case of students, motivation has a key role to play for achieving success in their academic goals. This is easier said than done. It is the responsibility of the teachers to ensure that the students are motivated in their academic pursuits. Teachers with great experience believe that the students are as motivated as is the teacher.

The teachers, who are passionate about their subjects, ensure that their passion rubs off their students as well. There are many ways by which the students can be kept motivated. We, here at IILM understand the importance of keeping students motivated to learn so that they enjoy the learning process.

Here are 7 key initiatives taken up by IILM to keep our students motivated are:

Increase involvement of students: We believe that effective learning happens when the students are involved in all the learning activities. The classes are conducted in a student-centric manner such that the teacher acts as a facilitator in the learning process.
Make learning enjoyable: IILM considers that learning will be effective only when it is enjoyed. Gone are the days when the students would memorize answers and score good marks in exams. We now focus on how well students interact with each other and solve real-life problems through group work. In this way, students have fun as well as learn at the same time.
Healthy competition: Healthy competition keeps the energy levels of the students high and they are motivated to perform better. At IILM we have noticed that students understand concepts better and retain them for a longer time when they compete with each other in classroom discussions.
Variations in teaching pedagogy: At IILM, the faculty members believe in using a combination of pedagogical methods like group activities, quizzes, simulation games, etc to keep the interest of the students in the various subjects. This helps them to excel in their academic pursuits.
Reward students: Rewards always motivate students to perform better. This holds good for students at all levels. The faculty at IILM keeps a constant track of the performance of the students from time to time and rewards them as deems
Give responsibility to students: Some students are motivated when they are given the responsibility of performing certain tasks. Such students are identified and handed over responsibilities like club activities, club boards, co-ordination jobs, etc.
Connect teaching with students’ interests: The bond between the teacher and the student has to be formed over the interest of the students. They connect over these areas of common interest. The areas of interest have also been made a part of the course curriculum in the form of content delivery. The classroom activities in IILM become more engaging and interesting for the students as they are related to the areas of students’ interest.

The motivation of the students to learn creates excitement for learning between the teachers as well as the students. It enriches the learning process and also enhances how the classroom discussions and activities take place. As times change, the ways to motivate students will undergo several changes. The mantra for motivating students, therefore, is ‘Make learning fun’.

My Journey with IILM continues… by Alumnus Joseph Davis

Alumni, Campus Life, Guest Blog, IILM Institute for Higher Education, IILM Stories, Testimonials02 MayJoseph DavisAbout IILM, Alumnus Joseph Davis, IILM alumni, IILM Alumnus, IILM Story, MY IILM, Why IILM

The engineer, not by choice, who wanted more from life than just the mundane, regular and ordinary! Relatable much? I’m Joseph Davis, the head of research and insights wing at Consocia Advisory and this is the story of my journey as a management professional.

The scary realization of the ordinary life awaiting me if I continued in the path of a chemical process engineer during the time I worked at Aramco’s process design consulting firm Petrocil Engineers, made me choose the management career path, as I dreaded the no-communication work style I was part of. I quit the job, prepared for the management entrance exams and scored well enough to get into some of the best management colleges in the country. Being a Keralite all my life, this was my golden chance to explore my opportunities across India. Thus began the research to find the institute that’s the best fit for my aspirations.

2 months and tons of research later, I was at IILM Greater Noida’s entrance for my interview. IILM’s 3 Palmes of excellence ranking making it officially recognized in the category of “excellent business school with reinforcing international influence” by Eduniversal, making it a top B-School offering a PGDM program, was one prime reason for IILM being my go-to choice after several shortlisting stages. Visiting the splendid campus further reinforced the validity of my choice. My management entrance success ensured a 50% scholarship. Yippee! I interacted with the faculty and as my course ensued, I realized that IILM has a dynamic yet structured program with top notch teaching methodology including the concept of flipped class, where the student gets an opportunity to be the teacher and discuss concepts with the professor being a facilitator to clarify the outcome of the discussion enhanced through case studies and course materials by Harvard and many other global universities.

The global study program was a high point of the program with the opportunity to visit Dortmund, Germany as a foreign student at ISM, Dortmund for 4 weeks. I for one, used to the opportunity to the max by visiting 7 European countries over weekends, as we had a Schengen visa. The 4 weeks at ISM gave me a deep understanding of international concepts around Intercultural communication, strategic management, International Finance and Operations Management.

The industry exposure offered at IILM was world class as we had international faculty visiting the campus for specific courses in each trimester apart from the well qualified Ph.D. professors and lecturers coaching and mentoring me to be the best version of myself, both personally and professionally. The experiential learning I obtained as opposed to theoretical ramming one has experienced with the conventional educational system was a game changer in making me ready to face any and all challenges that I would face as a prospective manager and impacted my perception of the corporate world as a seasoned professional. This helped me in my placement at Protiviti Consulting, a U.S based consulting firm as a research associate.

Then came the convocation day. I was awarded the gold medal for the best academic and co-curricular performance over the 2 years at IILM. The grand ceremony hadn’t marked the end of my relationship with this spectacular management institute, but it had evolved into a beautiful connect as an alma mater which I continue to this day. 3 years later, I was back as a guest speaker at the International Sustainability conference representing my company. It was indeed a proud moment being back to impart some insights to the next set of intelligent minds.

My journey with IILM still continues and looking back, I am grateful to the almighty for helping me stick with my decision to choose IILM. To anyone who reads this, life at IILM will certainly change you for the better. Metamorphosis at IILM is real. The question is, are you ready for it?

Impact of Market Sentiments and Indian Indices

IILM Institute for Higher Education, Uncategorized01 MayMs Mini Biju Danielcoronavirus impact on economy, Impact of Market Sentiments, job loss due to coronavirus, market down due to corona

Indian Market is experiencing its worst nightmare since financial crisis of 2008. There has been a series of events which has led to the Downfall of Indian Economy since 2019. India was already facing challenges with the banking sector having huge Non Performing Assets (NPA) with Scams of IL&SF Infrastructure Leasing & Financial Services (IL&FS), whose defaults on its payment obligations led to a liquidity crisis in the shadow banking sector, had posted a staggering net loss of Rs 22,527 crore in 2018-19 (FY19) on a standalone basis, as against a net profit of Rs 333 crore in the previous year, according to the company and DHFL Bankruptcy scam putting deposit holders with overall exposure of Rs 6,000 crore and at risk of losing their savings.

These events impacted the banking system as a whole -after which two major banks came in the limelight.

First being the fraud of Punjab & Maharashtra Co-operative Bank Limited (PMC) that the PMC bank allegedly favored to the promoters of Housing Development and Infrastructure Ltd (HDIL) and allowed them to operate password protected ‘masked accounts’. It is found that around 21,049 bank accounts were opened by bogus names to conceal 44 loan accounts. The bank’s software was also tampered to conceal these loan accounts.

This bank fraud case was busted by a bunch of women employees of the credit department of the PMC bank. These employees told to the RBI that they were aware of the ghost accounts. When this case came in the light; then customers of the PMC bank rushed to the PMC bank to withdraw their hard earned money but they were refused to give their deposited money and withdrawal limit is set by the bank. Further the Enforcement Directorate (ED) had sealed the assets of Rs 3,500 cr of the HDIL group.

Followed by the fall of the 5th largest private sector lender… “Yes Bank” had loaned more than its net worth to companies that were unlikely to pay back the type of firms and sectors to which Yes Bank was lending resulted in the start of the crisis. According to one estimate, as much as 25% of all Yes Bank loans were extended to Non-Banking Financial Companies, real estate firms, and the construction sector. These were the three sectors of the Indian economy that have struggled the most over the past few years. And Yes bank got exposed to the toxic Assets.

The investors were already alarmed of the grey patch Indian banks were going through, but these events made them loose confidence. Had the Government and RBI start seeking for resolutions amid many concerns heading into 2020, the event that no one expected was the outbreak of COVID-19—

A Coronavirus that first emerged in the populous city of Wuhan, China, and which is now proving to be both more infectious and virulent than the common flu. Impact of this on global economic growth has been huge. The Organization for Economic Co-operation and Development (OECD) has halved the global gross domestic product (GDP) growth projection for 2020 due to Coronavirus. “The current restrictions have impacted most economic activities like travelling, consumption, etc. Manufacturing Industries impacted due to supply chain disruptions and this in turn will delay capacity additions and Capex spending. This event caused a massive crash in the global markets with drying up of liquidity and a complete halt of economic activity in various parts of the globe. The pandemic event has caused a dent in the real GDP growth of various developed and developing markets.

Making things worse is the crude oil war between Saudi Arabia and Russia, which has injected volatility into other assets. “Earlier, only the equity and debt markets were impacted by the Covid-19 scare; now the commodities and currency market are in turmoil due to the crude oil war. After a crash of this magnitude, market confidence usually does not come back soon.

Fall of Market Indian Indices:-

If the Benchmark indices fall more than 20% from their peak, it is defined as a bear market. With the Sensex and Nifty down by more than 30% and we are deep in bear territory now. However, very few Indians have the courage to invest right now. An online survey by ET Wealth reveals that only one out of six investors is planning to buy aggressively at this stage .it is heartening to note that a large number of investors have not lost heart. They may have lost a big chunk of their investments in 2020, but they are not planning to go away. While the spread of Covid-19 is the main worry right now; investors are more worried about the economic impact of the lockdown. Experts say these fears are not unfounded, because it is not a financial market problem that can be addressed by monetary policies like rate cuts, quantitative easing or a fiscal stimulus. The real issue is the worldwide lockdown. “The economic pains triggered by Covid-19 and lockdowns are expected to last longer than the previous financial market crisis.

In the current phase, foreign investors are exiting the market, the net amount of Rs 59,377 crore was pulled out from equities and Rs 52,811 crore was withdrawn from the debt segment by the FPIs in the month of March 2020, which translate the total net outflow of Rs 1,12,188 crore, which comes after six consecutive months of investment by FPIs since September 2019. At the same time, domestic institutions have poured in Rs 55,595 crore. But if the markets continue to fall, even domestic investors may start exiting.

RBI & Govt. announced to few measures:-

To calm the nerves of a stock market gripped by bears and to help liquidity conditions in the economy, the Reserve Bank of India (RBI) governor, Shaktikanta Das cut key policy rates on Friday 27-03-2020. This rate cut intervention by RBI has come after central banks across the world announced rate cuts to stave off a corona virus-related recession. the repo rate and reserve repo rate cut by 75 basis points and 90 bps, respectively (100 basis points/bps = 1 per cent). The repo rate now stands at 4.4 per cent and reserve repo rate at 4 per cent. The Reserve Bank will conduct auctions of targeted term repos of up to three years’ tenor of appropriate sizes for a total amount of up to Rs 1,00,000 crore at a floating rate linked to the policy repo rate . CRR reduced by 100 basis points to 3.0 per cent This would release liquidity of Rs 1,37,000 crore in banking system and many other policies to infused and boost the market confidence .

Impact on Industries and man power:-

The nationwide lock-down to battle corona virus pandemic is likely to result in huge job losses, pay cuts and freeze on hiring over the next few quarters, thereby giving blues to India’s already distressed employment in India.

Based on the best available estimates currently, there could be an estimated job loss of 10-12 million, across travel, tourism and hospitality sectors. The manufacturing sector is directly dependent on how soon the government lifts the lock-down, thus enabling people to go back to work.

Other worst-hit sectors are automobile & auto-components, MSMEs, consumer durables and capital goods sectors. These sectors will face the greater burden of the slowdown. India’s economy is expected to slow down to 2% from the current around 5% levels, while many other major economies of the world are going to be in the negative zone. The revenue loss in tourism, travel and hospitality sectors is pegged at $21 billion. With fear, uncertainty and doubt looming large on the future of the businesses across various sectors, one of the worst-hit sectors like hospitality sector has already terminated services of contract workers. Out of an estimated 20 million workers estimated 20 million workers engaged in the tourism, travel and hospitality sectors; an estimated 50% jobs will be affected.

As the number of COVID-19 cases worldwide topped one million with half of humanity now under lock-down and over 10 million jobs lost in two weeks in the USA and an estimated 11 million European workers have lost their jobs -this is clear that it has impacted Global Job losses as a whole. This particular black swan event has made the countries take a call on either safeguarding the economy which is at a complete standstill facing humongous economic loss or safeguarding the human capital.

Mini B. Daniel
Associate Professor of Communication

Rising Above the Challenge

Campus Life, IILM Institute for Higher Education27 AprilAtima MankotiaCovid-19 and IILM, IILM Adapts and Innovates, IILM Education, IILM Institute for Higher Education, Rising Above the Challenge, Why IILM

IILM Adapts and Innovates

Human Resource professionals, consultants and HR specialists have always maintained that the flexibility of ‘Working from Home’ is an HR best practice that has been adopted by some of the top, most innovative and forward-thinking organizations.

According to several studies, flexible work arrangements can improve recruitment and retention, augment organizational diversity, encourage ethical behavior, and help the organization’s efforts to be socially responsible. Employers can experience cost savings, improved attendance and productivity, and an increase in employee engagement. Other identified benefits are reduction in costs in terms of travel by using Conferencing technology; upgraded technology making the company competitive; reduction in space requirements; Work- life balance; and increase in sustainability by decreasing harmful impact on global ecology by reducing carbon emissions and footprints.

Many Millennials consider work-life balance and flexibility to be the most important factors while considering job offers. Infact,64 percent of Millennials said they would like to work from home occasionally and 66 percent of non-Millennials said they would prefer to sometimes shift their work hours to the house according to a recent Price water house Coopers (PwC) study. Most employees long for workplace flexibility, and those showing up for work on time every day often end up resenting employees who worked from home.

However, teaching was always considered one job that could not be done from home. A brick and mortar classroom, a campus life and face to face student-teacher interactions was always considered to be the best way for education. IILM Institute for Higher Education has always believed in the importance of faculty and student interaction, not only inside classrooms but outside them as well. The faculty constantly mentors’ students, guiding them personally and professionally at all stages of their time at IILM and even beyond. So, it was not an easy task for IILM Institute for Higher Education to adapt to the new and challenging situation faced by the world.

The fear of the spread of the covid-19 virus forced people to stay at home. Business needed to be conducted online with employees overnight becoming adept at online forums such as zoom, skype, emails, conference calls and many mores. Webinars and online meetings are now the order of the day.

IILM Institute for Higher Education had to quickly restructure it way of working and it adapt to the new ‘Work From Home’ scenario where the students and teachers stayed at home. Classes are now conducted efficiently and regularly over zoom, with assignments being sent on mail and the teacher-student interaction continuing steadfast. Students continue interacting with faculty mentors over zoom meetings, or even video chats or audio calls.

The work culture at IILM Institute for Higher Education is one that believes in adaptability and flexibility. Student interests are always put first at IILM Institute for Higher Education that has devised new and innovative ways of reaching out to students and keeping them informed and motivated. There are classroom sessions for teaching and there are fun sessions where teachers hang out with students for a chat to find out how they are coping with the new system. IILM Institute for Higher Education also believes in intervention to help students who may need help or are lagging behind due to any reason. The faculty are always alert to the needs of the students.

While these theories and mindsets about working from home being a best work practice crumbled for many Millennials and Non-Millennials within days of the forced lockdown when they were compelled to work from home, the faculty and Management at IILM Institute for Higher Education made the best of a challenging situation creating many innovative ways of working and not getting overwhelmed by the situation.

This is not a dream come true scenario for even the strong supporters of working from home because working from home under the current circumstances is difficult. One must work much harder to get even simple things done without the office infrastructure and interaction and the comfort of the brick and mortar offices, especially in academic in institutes.

IILM Institute for Higher Education has adapted and innovated to create an uninterrupted continuation of the academic process ensuring a comfortable and efficient experience for its students.

Atima Mankotia
Professor HR-OB & Communication
IILM

Awakening Digital Media in Remote Areas

Campus Life, Faculty, General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM Undergraduate Business School, IILM University, Uncategorized02 AprilMegha KochharAwakening, changing vision, Common Man, Digitization, Economy, Growth, Print media, Rural Development

The advent of digital media has been nothing short of a revolution for our country. In recent times this importance got highlighted during demonetization and now with the Corona crisis staring at our face. This has also vastly affected our social relationships and the way we perceive issues.

Every technology has its drawbacks when used to generate negativism and disorder. Unfortunately these are the perils of our times and in spite of existing safeguards there are implications which have ominous consequences. Though, we have embraced the digital world with open arms, however, it cannot be said for the common man.

It needs no emphasis that more than 70 percent of the population our country resides in the rural areas. Has this population changed its ways and thoughts to imbibe the rudiments of digitization? The answer would not please us. We are still a developing country and cannot measure up to the standards of countries such as USA, Japan or France.

What then should be the way out? The first and the foremost are related to the reach of media. We need to have internet connectivity to the remotest areas which may involve a large amount of expenditure. A way out could be to develop a cyber hub in each village which should be maintained by the district administration and people could flock there and use the mobiles with the available internet connectivity to transact any kind of business or information related activity. It is noteworthy to see that PayTM and such like platforms have been a great force multiplier towards paperless transaction. We need to build up on these existing platforms and extend their reach to the remote areas of the country.

Broadband highways need to come up and get established in a phased manner. The common man needs this technology to augment the agricultural base of the country and build up the resources of our country. The path is long but can be tread upon if the correct impetus is there. I am reminded of a famous quote,

”Being challenged in life is inevitable, being defeated is optional”.

The Power of Poetry

General Blog, IILM Institute for Higher Education, IILM University24 MarchPamposh Gulati#CREATIVITY, #IILMUNIVERSITY, #JOURNALISMANDMASSCOMMUNICATION, #POETRY, #SCHOOLOFHUMANITIES, IILM Blog

Poetry has survived and survived really well…It is one of the finest and powerful forms of writing. In short, poetry is creativity in disguise. It teaches us to communicate in a compelling way, thereby enhance learning. Poetry is about expressing those thoughts and emotions we keep the most suppressed. An integral part of writing poetry is to be honest with ourselves about what we feel in order to write anything worth reading. It’s about connecting our hearts and our minds to ourselves and our environs. It’s about finding peace.

Poetry is one of those skills that will remain in use for your entire life no matter what you end up doing professionally. It gives us a salubrious outlet for pouring our emotions. Reading original poetry aloud can foster trust and empathy in a community, while also accentuating speaking and listening skills. There are many of us who don’t like writing essays but may like poetry, with its dearth of fixed rules and its kinship with rap. For such people, poetry can become a doorway to other forms of writing. All forms of writing benefits from the powerful and succinct phrases found in poems.

Additionally, poetry can help us to learn how to utilize grammar in our own writing by studying how poets do—and do not—abide by conventional writing rules in their work. Poetry can teach writing and grammar rules by showing what happens when poets strip them away or distort them for effect for example; Dickinson often capitalizes common nouns and uses dashes instead of commas to show sudden shifts in focus in his poetry, similarly, Agee uses colons to create dramatic, speech-like pauses. The more we read different poets, the more we can carve out our own style. The point of reading a poem is not to try to decipher it. Still, that quantifiable process of elucidation is precisely what needs to be encouraged often in lieu of curating a powerful experience through literature.

So, don’t wait…reach for the pen, and let go of those things that have been encumbering your freedom. Read poetry with your heart and let it affect you in one of the most defining ways.

How To Effectively Leverage Your MBA Alumni Network

General Blog, IILM Graduate School of Management, IILM Institute for Higher Education15 JuneRudrajoy BanerjeeBest MBA Colleges in Delhi, Delhi management institute, MBA, MBA admission in Delhi, MBA admission process in Delhi, MBA in Delhi

The beauty of completing an MBA degree lies not just in the prestige of being a management graduate but also in the connections you make in your time at the institute. The famed alumni network is always positioned as one of the biggest benefits of doing an MBA; connecting with like-minded, ambitious souls from diverse backgrounds can teach you more than a standard classroom experience.

Your peers add value to your life on the personal as well as professional front. From grappling to get an MBA admission in Delhi to graduating with each other, time spent together improves your personality and equips you with skills you didn’t realize you needed. This same of a network of people becomes an invaluable asset later on in life. Leveraging your alumni network is a sure-shot way of building and solidifying relationships that open up opportunities for you. Here’s how you can make the most of your network and extract priceless benefits:

Stay updated on the latest developments:

Do not forget to sign up for the alumni newsletter. Keep in sync with the latest developments about the rest of alumni and their careers, especially those who are stepping out or working in industries and causes that interest you. Be sure to attend any alumni events and connect with former classmates to build new relationships.

Stay connected on social media platforms:

The power of social media cannot be discounted here. Use professional platforms such as LinkedIn to stay in touch with your alumni network. Twitter and Facebook are also platforms you can use to leverage and build your network. Another benefit of these social platforms is the potential to connect with the individual on a more personal level. You can also use these platforms to speak with them about topics or questions you may need assistance with. Best part? Since you are a part of the same Delhi management institute alumni network, they’ll be more than happy to help you out!

Build sturdy bridges:

One of the key reasons why there is so much stress on maintaining relationships is that they sometimes become the bridge to the right person. If you are looking to turn to entrepreneurship, your alumni network can be helpful in connecting you to the right investors or customers. If you’re looking for a job switch or a business prospect, you can rely on your peers to connect you to the right people.

Whether considering a better job opportunity or a potential investment matter, your alumni peers form a goldmine of opportunities that when utilized well, can open doors to unbound success. Connect with the right people and stay in touch to fully realize the power of being an MBA graduate.