Changing Course of Study Abroad Programs in the time of COVID 19

Global Study, IILM Undergraduate Business School05 MayDr. Shruti GillGlobal Transfers, IILM Undergraduate Business School, Study Abroad Programs

The Global Pandemic may have sabotaged the dreams of most of the students, who wanted to study abroad, but here Indian Universities like IILM Undergraduate Business School is evolving to bring in the new culture and new learning formats to the door step of these young minds. Let’s see how.

Institutes with collaboration with International Partners:

Indian Institutes that have partnership with Universities Overseas stand a better chance as what they offer is a Global Integrated Program from their own hinterlands. IILM Undergraduate Business School has academic collaboration with many such academic partners and offer well curated educational curriculum to cater to the youth of today.

International Experience made affordable: Students seeking for Global Programs can pursue the same from the Indian Institutes at much affordable prices.

Global Transfers: Institutes with Global collaborations offer seamless transfers to global campuses for students to start their education in India and later be honored by an International Degree. At IILM, students have taken transfers in the Second/ Third year and have returned with an International degree in hand.

Accept Credit Transfer: Institutes with Global Partners accept credit transfers and prior learning assessments to smoothen the process of settling in the learning ecosystem.

Talent Pool: A Global Integrated Program brings along a talent pool of Indian and Global faculties having rich experience in terms of both academic and industry. At IILM varied foreign languages such as Spanish, French and German are offered to inculcate a global perspective in the learning process.

Peer to Peer learning: Transition from Guided Learning to Self Development formats. Institutes that offer Multiple Self Learning Programs through Certifications will be in demand. This will encourage skill development at the micro level. At IILM, several MOOC courses on platforms like Coursera, Edx, and Swayam are offered to encourage students towards self-development.

Real Time Course Curriculum: B- schools are already working on rejig of their academic programs as they believe that this pandemic has led to widespread disruptions across all functions of management. There has been immense learning from the current pandemic situation and the same needs to be incorporated into the teachings such as marketing during pandemic times, work from home HR policies, impact on economy, emergence of next Gen-C cohort group, Consumer 2.0 etc.

This post COVID world will open new wave in imparting higher education to the students. It will bring a new normal in the education field with emphasis on blended learning formats. IILM Undergraduate Business School is already restructuring and re-designing their teaching pedagogy for a better tomorrow.

Visit www.iilm.edu and apply now. Our admission counselors will contact you within 24 hours.

Relevance of IILM PGDM / MBA in the times of Covid-19

Campus Life, IILM Institute for Higher Education05 MayDr. Kakoli SenEffective Communication, Finance, Human Resource Management, IILM MBA, IILM PGDM, Marketing, People Management

It is common understanding that a PGDM / MBA degree prepares you for Business Administration, so you study Management, Organizational Behavior, Human Resource Management, Finance, Marketing, Operations, International Business and a range of other subjects. However the 2 year programme at IILM also prepares you with certain other skills such as Effective Communication, Research and Analysis, Critical Thinking, Change Management, Ability to leverage technology, Dealing with pressure, People management, Teamwork, Decision making etc. which may be called soft skills but are actually life skills. Let me explain here how these are so relevant in the context of Covid – 19 which all of us are grappling with today.

The current crisis is a situation that almost no one living today may have faced ever in his or her lifetime, hence there is absolutely no way that anyone could have been prepared for, in advance. When it struck, the reactions were quite similar among most, ranging from brushing it off to disbelief to despair, businesses were no different. However during these times of crisis, Effective Communication is of paramount interest. At IILM, students learn who to communicate with, what to say, how to say and when to say. Your stakeholders are the ones who need to hear from you to have that continued trust in you, how you are managing their interest is what you need to tell them and tell them early on. Any message that is delayed looks like an afterthought, so communicate early and communicate regularly. Keep it short but relevant and regular.

The times are different, the challenges are different, hence the solutions also have to be different. IILM teaches its students to read, research and analyze what is happening the world over and make sense of it and how it affects our businesses and organizations. It teaches them critical thinking skills and inculcates a sense of judgment and positive thinking to manage any crisis situation. As a manager / leader it is important to know that we must be able to adapt to change as per the situation. In the current situation when there is a complete stop to everything around us, it is imperative to follow what is required at this moment, which is staying safe and staying at home. If there is life, there will be a tomorrow and we can always plan and rebuild ourselves. There is just no point in being restless, take this time to spend with yourself, review what you have done so far, how you would do it differently, what you could have done better.

Technology they say is a leveler, the digital march is going to make it even more uniform. As millions of people are homebound, their major source of information, inspiration, communication, distraction, entertainment is through technology. IILM encourages its students to be technology savvy and Leverage Technology to bring in effectiveness to their work and business. A case in point, in the times of Covid, technology has moved up a few notches, K-12, Higher education and a good number of businesses have gone online, organizations are rethinking the Work from Home concept, also as an effective cost saving tool. All classes at IILM have been conducted on zoom through paid licenses ensuring security and privacy of teachers and students online.

This is a situation which has put everyone under pressure, be it the government, the police, the doctors, the medical supply chain, the food suppliers, the transport for continuing the work assigned. All others are under pressure to stay at home, manage their job, remain balanced, remain strong, stay calm and help others in whatever way possible, big or small. The MBA / PGDM programmes at IILM by the very nature of its being fast paced with classes, tutorials, assignments, simulations, meeting industry experts in Round Tables or Guest sessions, Summer internships, Live Projects, Placements creates the right kind of pressure with tight deadlines and helps students manage time and manage themselves by dealing with pressure.

People are the most valuable resource that one can have. IILM students develop skills of working in teams and learn to respect one another, value their competence and contribution. People Management is what management is greatly about. Students learn through cases and role plays, how to take people along, how to keep them motivated and engaged with the organization when the chips are down. How to make people feel wanted and part of your team are skills that come with practice. As a manager, you are required to take decisions, most of the times with limited resources, limited information and in limited time. IILM teaches Decision making as a process, a step by step approach to make good decisions. With practice, one becomes adept at following the steps and can still be quick. But if you miss some part of the processes in order to be quick, you will be prone to making mistakes, costly ones!

Most importantly, IILM has an NGO club through which students learn to help and support the marginalized sections of the society. We believe empathy is something, which need not be understood and expected when you are in a spot, but the continued will to share and care for others whatever the situation be. IILM is proud of its 12000+ alumni who as Managers and Business leaders running their businesses responsibly and building the nation.

Prof.(Dr.) Kakoli Sen

How Leadership Works: And What Motivates People to Follow.

Blog Catgeory, Career Development (Placement), General Blog, IILM Institute for Higher Education, IILM Undergraduate Business School04 MayParnika SharmaCoaching, Engagement, entrepreneurship, Job Fulfillment, Workplace

This is one question that every leader thinks, that is how to persuade others to do what you want them to do in the most effective manner. To come to the definite answer to this question, there is a need to start reflecting on what motivates you to follow or listen to someone. The moment you start reflecting on this basic question, you will immediately start pondering upon what makes you passionate about things in life for which you are ready to expand your comfort zone. In majority of the cases, it’s all about making an impact in the lives of others with your work.

Purposive Leadership

The purpose in leadership is all about who you are and what makes you distinct, it’s all about your own unique brand. It is not so much about what you do or your educational qualifications but how you do your job.

It is your ability to articulate purpose behind your work that makes you distinct. Your ability to help your team members connect with the larger purpose behind your work i.e. making a difference in the lives of others, helps you to connect with your team and motivates them to go to any level to make a remarkable contribution at work.

David Ulrich , Professor of Business Studies at The University of Michigan, who is an expert in the field of human resource and leadership and has authored more than 30 books, shared that leaders in the organisation who enable their employees to find meaning and purpose from their work create a work culture in which employees are more enthusiastic and generate more value for their customers and investors.

Suresh Narayanan, MD of Nestle India, is one such leader who inculcates a sense of strong purpose amongst his team members and successfully brought the company out from the Maggie crisis and is now steering Nestle successfully during the Covid-19 crises with no retrenchment amongst his existing work force. He shared that it is important to have clarity of one’s purpose in life and it is not about becoming a corporate CEO or an entrepreneur or making a million dollars, but it is all about understanding what you want to be known for, and this makes the whole difference.

How to Lead With Purpose

The first step is to identify your purpose, which needs to be real and authentic. The second important step is to articulate that purpose amongst all your stake holders clearly and persistently. The third important step is to realise that when we use our strengths at work, then we reach in the state of flow, where we become so engrossed at work that time just flows by – and the same is true for our team members. So, help your team members identify their strengths and use it at work. Lastly, create a positive work environment by encouraging a positive work relationship and by giving positive feedback to your team members. Remember, you can help your team members grow by focusing on their strengths. It is only an uplifting and supportive work environment that can help your team members connect to the deeper meaning of their work.

This is what Yuon Chouinard, CEO of Patagonia, an American outdoor clothing company, has done. He clearly aligned his purpose i.e. “cause no unnecessary harm and use business to inspire and implement solutions to environmental crisis” in all his processes, be it product-lines, supply-chain or the pricing of its products. This motivated the company to switch to organic cotton in their clothing lines. The result is that today Patagonia is thriving due to its focus on overall purpose behind their business and not just the profits.

Purpose Assures Safety in The Times of Crisis.

Leaders who lead with purpose can easily bring their organisations out from crisis. American energy company, DTE Energy, could overcome the 2008 financial crisis by inculcating training programmes for employees that spoke about purpose behind their work. They conducted town hall meetings and conducted culture-binding activities that increased employee engagement to a new level. DTE won a Gallop Great Work Place Reward five years in a row, their financial performance skyrocketed, with the company’s stock price tripling from year end 2008 to year end 2017. Hence, the most important factor that makes an organisation grow amid challenges and crisis is its leadership, with strong purpose which is beyond one’s immediate interests.

Conclusion

Finally, it is important for a leader to help his team members not only to envision the outcome of their daily routines, but also to find meaning in those tasks. So, for me, I not only give lectures but as I teach, I also contribute in preparing Next Generation Business Leaders.

Purposeful leadership is all about creating value and leading a contributive life. It is about being genuine and helping others to develop and display their highest potential. Finally, leaders must create their own brand and think what they want it to be remembered as.

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’.

Classroom 2.0 – Up and Running at IILM!

IILM Graduate School of Management, Uncategorized02 MayDr Shweta Nandaat IILM Digital skilling, Classroom 2.0

In response to the COVID-19 pandemic, the need to work remotely while continuing to successfully deliver is more pressing than ever before. However, Remote accessibility to stakeholders has opened many avenues to multi tasking and enriching vivid experiences through various tools and platforms. While skill updating and online trainings will orient the outcomes towards greater good at lesser cost. This blog will help us understand where we are on this journey and the role of academia to provide the fundamental bedrock on the emerging megatrends leading to Classroom 2.0. B-Schools are leveraging multiple learning channels for their MBA classes and are increasingly focusing on hands-on project-based training and social learning for digital skilling.

In the light of changing trends across Industries, the following three skills have emerged as a focal point of Industries across domains. The top management college including IILM has reinvented the wheel by incorporating the relevant content ,increased collaborations with MOOC’s and project based trainings.

Remote Infrastructure
Virtual Communications
Managing Stakeholders Expectations

Remote Infrastructure: Cloud-native applications to support cloud based AI workloads and AI-powered business models are reducing mean-time-to-respond by less than half. At IILM, students are trained on optimal value of digital technologies that emerges from interconnected and interdependent applications.

Virtual Communications: This includes how companies are dealing with the impact of the disruptive technologies on their talent development strategies. In addition to defining what digital skills are, the Best B-Schools are working hand in hand to train students on these skills and how key skilling metrics are measured. At IILM, the course curriculum is based on “Outcome based Learning” and thus we are leveraging the stakeholders’ contribution in updating the course curriculum.

At IILM, Digital skilling is core to organisations’ strategy:

Digital skilling has become an integral part of organisations’ overall business strategy and organisations are making efforts towards seamless execution of these strategies. At IILM, students are encouraged to build FAQ based fresh content, write blogs. They are trained on affiliate marketing, influencer marketing, building a self brand with a focus on SEO tools and analysis. Google digital garage has now emerged as an authentic source of up skilling.

We believe in building ‘composite’ capabilities:

There is a shift in organisations’ requirement from only technical capabilities to ‘Composite’ capabilities comprising technical skills, professional skills, and domain knowledge. We have an edge on our Learning Development Program where faculties are the torchbearers to the holistic development of professional skills.

Managing Stakeholder Expectations: We believe in 360 degree feedback from our stakeholders. This thrives us to diligently gather the valuable inputs from stakeholders. A change post COVID-19 has revived industries with fastest growing nine digital technology areas including three foundational technologies – Big Data and Analytics (BDA), Cloud Computing, and Cybersecurity – and six advanced technologies – Artificial Intelligence (AI), Internet of Things (IoT), 3D Printing, Robotics, Blockchain, and Immersive Media. To ensure a future ready workforce, we are increasingly collaborating with MOOCs, training providers, other enterprises, and government for both skilling and credentialing.

Dr. Shweta Nanda
Assistant Professor- Marketing

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