Book Review – Naked Statistics: Stripping the Dread from the Data

Are you afraid of numbers? Does statistics intimidate you? Charles Wheelan, a professor at Dartmouth College and a former U.S. correspondent for The Economist, swimmingly fissures through all the jargon and graphs to demonstrate the fundamental concepts of statistics and their applications and implications in the real world. In his book, he has endeavored to rip off the intricacies of the subject and accentuate the sexy stuff underneath. Through his book, he demystifies several tedious statistical concepts in a simple and accessible way.

Naked Statistics: Stripping the dead from the data is a book I wished to have read prior to taking a course on statistics at my university.It is long on examples and convinces the reader that statistics is really intriguing and most of it isn’t that difficult. This book is all about intuition. It is short on math, equations and graphs, but when you encounter them, they will have a clear and enlightening purpose. This is neither a textbook nor will it make you a statistician. But, it will make you understand the everyday importance of statistics in decision making.

In a bid to explain both the power and pitfalls of statistical analyses, the author draws on a wide variety of examples ranging from sports, to game shows, to politics, to medical science, to banking and financial markets and so on. Such as why marketers of Schlitz beer were willing to subject their brew to a blind taste test among 100 fans of a rival brand in front of a Super Bowl audience. Next, a discussion on the Monty Hall problem: should contestants on Let’s Make a Deal, faced with three doors, one of which hides a car and two that hide goats, opt to change their selection after the host reveals a goat behind one of the two doors they didn’t pick. Wheelan points out the inferences made from statistical data that underpin much of modern life; from movie suggestions delivered by Netflix, to your chances of developing heart disease, to how casinos makemoney in the long run, to how businesses must assess the risks associated with assorted adverse outcomes, to how insurance companies make money, to recognize patterns that refine how we do everything from selling diapers to catching criminals, to evaluate the effectiveness of policies, programs, drugs, medical procedures and other innovations. They are also easily misunderstood, manipulated or, in rare cases, blatantly wrong.

The absence of hard math is Wheelan’s key motive: statistics should be accessible and intuitive, not just for those who were forced to study it but for anyone interested in the extraordinary power of numbers and data. Consequently, the book starts from the most basic descriptive statistics, like averages, before tackling more daunting theories. The concept of standard error, for instance, might seem frightening: it’s the standard deviation of the sample means. Following which, the reader progresses into the central-limit theorem, which states that for large sample sizes, sample means follow a normal distribution. In doing so, they should not differ remarkably from the overall population or other samples. So what’s the point in that? Wheelan explains it in terms of looking for a missing bus of marathon runners (who are likely to weigh less than the average) and finding one filled with overweight people (who are heading to a sausage festival). Though one or two weighty runners might be on a bus which is going to a marathon, it is unlikely that every seat would be occupied by a plump person. The central-limit theorem enables the riders quantify the prediction that they may have found the wrong bus.And so it leads on. The readers learnthat why insurance for low-cost items is worthless and why playing the lottery is a quick way to become poor. More seriously, the book explains the basic statistical approaches used in a 2011 study showing a link between a child’s brain size and autism. It also teems with interesting statistical facts, such as – there may have been an extra 1,000 deaths in the three months following September 11, 2001 because more people opted to drive rather than fly.

In conclusion, Wheelan persuades the readers of the cognizance first made by a Swedish mathematician and writer AndrejsDunkels: It’s easy to lie with statistics, but it’s hard to tell the truth without them. Given the increasing importance of this field in our everyday lives, odds are it’s worth the extra effort. Wheelan has successfully executed a barrage on the dread of statistics while engaging readers with his humorous conversational style of writing.

Changing Role of HR – Perspective of HR Analytics

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

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

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

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

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

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

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

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

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

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

My MBA Experience at IILM

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

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

Developing Business and Relationships:

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

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

Career Growth:

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

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

Personal Development:

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

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

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

Procedure to Get Admission for MBA Degree in IILM

MBA aspirants have a rather overwhelming experience while applying to B-schools. Most colleges have a complicated and exhaustive admission procedure. Unlike them, IILM provides the applicants with every help they require to simplify the application process. The admission procedure is easy and uncomplicated and has been thoroughly explained under the ‘Admissions’ section of the website: https://www.iilm.edu/admissions-process/

For aspirants who still have queries about the process, the following blog comprehensively explains the procedure to admission for MBA degree in IILM. Read on to know everything you need to.

Before we start it is important for the aspirants to know that IILM’s admissions process for PGDM full-time-2 year is approved by AICTE and is also accredited by SAQS (South Asia Quality Improvement System) program for the 2018-20 batches.

The first step in the admission process is to fill in the application form.

Aspirants planning to apply to the IILM PGDM 2018-20 are required to fill out one common application form. The form would have 3 IILM campus options to choose from. Aspirants can indicate their preferred location amongst campuses in Lodhi Road, Gurugram, and Greater Noida.

best MBA institutes in India

The IILM’s application form is available Online and is free of application fee. The aspirant will also need to scan documents like the photograph, passport, and income proof and mark sheets (Class 10, Class 12, graduation and competitive exam score card) and send along with the form. The competitive exams for which scores are accepted are CAT/MAT/XAT/ATMA/CMAT/GMAT.

Additionally, a single window interface has been designed for all admission-related queries for all locations. This makes processing much simpler and centralized for IILM PGDM.

The aspirants must take an appropriate amount to fill in the form. Pay attention to the details and proofread once you are done filling it.

Note – The eligibility criterion requires students to have completed their graduation in any stream (minimum 50%) or appearing in the final year of their graduation from universities and institutions recognized by AICTE/UGC/AIU before they apply.

INTERVIEW:

From these applicants, the aspirants who pass the minimum eligibility criteria for admission at IILM, one of the best colleges for MBA, are shortlisted. These shortlisted candidates are then invited for a one-to-one interaction and interview with the faculty members. Students living abroad are interviewed telephonically or over Skype. The students have to contact us over the telephone, on a number given in the interview mail sent to them.

FINAL SELECTION:

Finally, on the basis of the above-listed stages, the final batch of 120 bright, dynamic and passionate individuals are admitted.

We want to mention that the admission procedure at IILM, one of best MBA institutes in India, is absolutely transparent and merit-based. IILM does not have any management quota or special quota. Each applicant goes through the general application process.

Bitcoin & Litecoin: A contentious bid

INTRODUCTION
Bitcoin has been in news for a couple of years now.If you are fascinated by virtual reality or virtual gaming, you will be excited to know about virtual currency. What is virtual currency? Can one feel this currency? Where do you get this type currency? Let’s find out more about this novel technology by reading this article on Bitcoin & Litecoin: A Contentious Bid.

Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us.” – Thomas Carper, US-Senator

WHAT IS CRYPTOCURRENCY OR VIRTUAL CURRENCY?
In layman terms, cryptocurrency or virtual currency is digital or electronic currency that is revolutionizing the way people do transact. There are many different versions of cryptocurrency, but most experts would point at the Netherlands as the origin of cryptocurrency. Most cryptocurrencies in the world are not regulated by any national governments as they are considered to be as an alternative currency. Bitcoin was the first cryptocurrency that caught the imagination of thousands of people. Other Virtual /Crypto currencies are:
• Litecoin
• Dash
• Ripple
• Monero
• Ethereum
• Zcash

BITCOIN – HOW DOES IT WORK?
Bitcoin is a virtual currency, based on the peer-to-peer technology to operate with no central bank or governing authority. The network carries out all the maintenance of transactions and the issuing of bitcoins. Bitcoin is an open source technology and nobody either controls or owns it. All people who are interested can be a part of this kind of money. Bitcoins run on the blockchain technology, which is a decentralized ledger. This ledger is kept updated every time and held by all users of the network. If you want to create a bitcoins, you need to generate the blocks on this network. Each block is created cryptographically by using the computing and coding power of its users and then it appended to the blockchain. So users earn by keeping the network running all the time.

Bitcoin can be defined as “decentralized means of tracking and assigning wealth or economy, it is a software protocol”. It was invented by a group of programmers, or an unidentified programmer, under the name of Satoshi Nakamoto.It was introduced on October 31st, 2008 to a cryptography mailing list and thereafter released as open-source software in 2009.

Bitcoin is the largest in terms of total market value. Bitcoin uses two cryptographic keys, first is one public (username) and other is one private (password) are generated, no IP addresses, name, or phone number is recorded.

Just like 1Rupee=100 paisa, 1Bitcoin= 100,000,000 Satoshi. Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin. (Source: http://satoshitobitcoin.co/bitcoin-to-satoshi/).

BITCOIN – WHO INVENTED & WHY?
Satoshi Nakamoto is an avid and cryptic internet user. He invented Bitcoin and introduced it to the world in 2009. Why did Satoshi Nakamoto invent this currency? This is million dollar question that still needs some clear answering from the maverick. One good reason of this can be the fact that people always want to transact without any hefty bank charges and the intervention of government. Thus, Bitcoin is seen as the best tool for anonymous and private transactions

Bitcoin will become the new gold and re-align the playing field of central bankers and commercial bankers.
Jon Matonis, Vice-President at nChain

Bitcoin-Litecoin-Graph1

BITCOIN PRICE HISTORY Source:https://coinmarketcap.com/currencies/bitcoin/#charts

 

ADVANTAGES OF BITCOIN DISADVANTAGES OF BITCOIN
> No Tracking > No central bank has authorised Bitcoin
> Safes from duplication, (i.e. cannot be copied) by frequently checking code at an interval of 10 minutes. > No trade through BSE, NSE, commodity exchange (SEBI, FMC)
> No Transaction costs > No Forex dealer under FEMA converting $$=Rs=Bitcoin illegals
> Bitcoin cannot be stolen > Bitcoin Exchange website = legal status unclear
> No risk of charge backs
> It can easy be converted into Dollar from MT.GOX

THREE WAYS TO EARN BITCOIN
o Exchange currency (i.e. exchange your fiat currency for Bitcoin and vice versa).
o Solving data blocks (Mining Software)
o Goods and service Exchange.

SBI NETBANKING VERSES BITCOIN

RTGS: Real Time Gross Settlement NEFT: National Electronic Fund Transfer Bitcoin
Retail 2-5
Corporate:>5
50k at a time No ceiling
Processing fees 25-55 Rupees 2.50-25 Rupees None
Instant 1 hour cycles Up-to 10 minutes
Bank account needed Bank account needed Not even ID is needed
only Bitcoin wallet

 

WHAT IS LITECOIN?
Litecoin is another Cryptocurrency or decentralised digital currency, similar to Bitcoin. This was created by Charlie Lee. The main difference between Bitcoin and Litecoin is that Litecoin has a more number of coins that can be created. It also has faster transaction rates. Litecoin’s algorithm allows for a total of 84 million Litecoins to be created. Bitcoin lags behind due to this algorithm as Litecoin’s capacity 4x larger than Bitcoin. This helps with 4 time’s faster transaction rate confirmation. Confirming transactions help create new coins via a process known as ‘Mining’.The inventor of Litecoin, Charlie Lee was a previous employee of Google. He also worked as an Ex-Director of Engineering with Coinbase. He calls himself @SatoshiLite on Twitter (Satoshi Nakamoto is the founder of Bitcoin!)

Bitcoin-Litecoin-Graph2

LITECOIN PRICE HISTORY Source:https://coinmarketcap.com/currencies/litecoin/#charts

LATEST UPDATES ON BITCOIN & LITECOIN
• Bitcoin’s price skyrocketed from approximately $900 to close to $20,000 in the span of just 12 months
• The hackers of WannaCry Ransomeware had asked ransom as Bitcoin!
• In recent news, Litecoin has overtaken the fourth place in the Cryptocurrency business by beating IOTA & Ripple.
• The top three virtual currencies are Bitcoin, Ethereum & Bitcoin cash.
• Litecoin is stepping up its game with the market capitalisation of Rs 0.88 lakh crore recently.

RISKS INVOLVED IN BITCOIN
• It can be Hacked, phished, damaged by malware, password lost. In all case, money will be lost.
• Same with all other crypto-currency lite coin, bbq coins, dogecoin etc. Even in India Laxmicoin.com is founder by Mitts Daki (US) and Raj Dangi (Bangalore) and promises to give 30% of profit to NGO but RBI denied their proposal in 2013 as they stand “Examining the issues in Digital currency”.
• BuySellBitco.in is now Zebpay; this is India’s oldest exchange to buy and sell bitcoins. BuySellBitco.in is serving Indian bitcoiners since 2013.Consumer courts cannot help them as these bodies follow fiat currency.
• Mere digital code, no intrinsic value, not backed by Gold Silver or crude oil.
• Reserve Bank of India and People Bank of China denied it as legal tender.
• As we Indians have Income Tax Department, USA has IRS (Internal Revenue Service), IRS stand for Bitcoin.
• Bitcoin exchange in India; founded by Mahim Gupta from Bhopal. It was closed by RBI in 2013. They provide around Rs 14,400 for 1 Bitcoin and sell 1 Bitcoin for around Rs 14,800.

CONCLUSION
Bitcoin disciples argue its price will raise further, viewing volatility as a necessary bump on the path to even higher valuations. Fans even coined a term to describe their tactic of holding on for dear life – Hodl.
There are some rational reasons to keep calm and carrying on hodling. Serious investors are just getting interested in a market that has so far been dominated by crypto nerds and retail investors. The Chicago Mercantile Exchange (CME) is introducing Bitcoin derivatives – a form of bet on the future value of the currency – which will let hedge funds into the market before Christmas.(Source:http://www.cmegroup.com/media-room/press-releases/2017/12/01/cme_group_self-certifiesbitcoinfuturestolaunchdec18.html).
The absence of government intervention or bank standing behind the currency also fuels its appeal to those unhappy with the financial system after the credit crunch.Bubbles are driven by investor’s sentiment and stories, and bitcoins has a great story with a lot of mystery involved and spectacle to it.

IILM UBS – ENGAGING STUDENTS IN LEARNING

IILM UBS aims to create a learning environment that is active, collaborative as well as one that cultivates ‘learning relationships’, wherein learning takes place amongst peer groups, allowing students to actively engage and develop crucial social skills. Moreover, these educational experiences enhance the academic abilities of the students, as they are not limited to assignments and tests.

IILM UBS gives students several opportunities to engage in learning through the following initiatives:

Innovation Weeks:

These weeks are designed to strengthen the entrepreneurial spirit of students and nurture their creative abilities. This is achieved through multiple sessions conducted by eminent entrepreneurs, field visits as well as live projects. The themes for these sessions range from social entrepreneurship to starting-up.

Entrepreneurship Development Centre:

Inspired by the belief that entrepreneurs are not always born but can also be created, IILM formed the Entrepreneurship Development Centre (EDC) with an aim to create an entrepreneurial mindset in students. The students of the BBA in Family Business program along with the other IILM UBS courses can greatly benefit from the center as it performs a strong platform for budding entrepreneurs to ideate, validate and develop their innovative ideas.

PGDM college in Delhi NCR

From learning to prepare and presenting a business plan to understanding the legal aspects of opening a start-up, the supportive atmosphere at the EDC helps students move a step closer towards the realization of their dreams.

Events:

Numerous contests and activities are organized throughout the year to build a healthy environment and develop the various facets of the dynamic students at IILM. These activities include blood donation camps and donation drives; painting and poster making contests, as well as football matches, are organized to allow students to discover their passions and strengths. Business-related activities include the stock trading contests and group discussions on relevant pressing issues in the industry.

The BBA in Entrepreneurship program, as well as the other programs offered at the Institute, aim to provide students with a holistic experience at IILM so that they walk out of the institute as well-rounded individuals.

Finally, students are challenged to reflect, question, conjecture and evaluate, thereby encouraging them to think beyond the classroom.

After all, a multidimensional, socially responsible citizen is developed out of a student who is actively involved in academics as well as extra-curricular activities.

MBA Admissions 2018-19: IILM B-School Begins Admission Process

Every year, up to 120 smart, dynamic and aspirational students get to enroll themselves at IILM, a PGDM college in Delhi NCR unlike any other. With the MBA admissions now open for the next batch which will last from 2018 to 2020, we take a look at the entire process in detail, and why IILM can be the perfect stepping stone to a successful entrepreneurial career.

Choosing IILM:

Before opting to participate in the admission process, one must decide the ideal college for MBA. In IILM, though, you will discover a college and an experiential PGDM programme that tailors itself to your strengths and interests. Backed by a globally benchmarked curriculum inspired by Stanford Graduate School of Business, Wharton Business School, and IIM-A, our PGDM involves business simulations and case studies at its core. This is testified by over 9000 well-placed alumni throughout our 25-year history.

The 4-week global study programme is also a key differentiator which enables students to get adequate and critical global exposure in business studies and environment across various countries in Europe, Asia, and North America.

The backbone of the entire course, though, is the mentoring programme which pairs individuals with a permanent mentor according to his or her interests. The full-time and visiting faculty with vast industrial and teaching experience also plays a huge role in churning out world-class entrepreneurs of tomorrow. A robust placement cell and the mandatory 3-month long internship develop critical skills in students and provide them with a fantastic platform to bag the job of their dreams.

Finally, the spacious and world-class campuses with all the best amenities located at Gurgaon and Greater Noida provide the perfect environment for learning and fun to one and all.

With so much on the plate, an MBA at IILM is one absolutely worth it.

Getting admission:

Eligibility criteria-

If you have completed graduation in any field with a minimum of 50% marks, or are appearing in the final year of your graduation from AICTE/UGC/AIU recognized universities, you are eligible to apply for our PGDM course.

Valid competitive scores:

Scores will only be counted from either of the following examinations for MBA: CAT/XAT/ATMA/MAT/CMAT/GMAT

Procedure:

The process is divided into three tasks- online application, interview, and selection.

First, you must fill and submit the online application form along with all the relevant documents. Normally, within 24 hours, a reply is issued to the applicant.

  • Thereafter, shortlisted candidates undergo interaction and interview with faculty members. In case you are unable to attend the interview due to location problems, a Skype interview can also be arranged.
  • Once selected, the candidate will have to deposit the required fees before the classes commence in July. Students can also avail the Merit-cum-Means scholarship which varied depending upon marks in graduation, CAT percentile, MAT score, and other socio-economic factors.

Once you clear it all, you can proudly proclaim to be a student of the best college in India for MBA that is more a course in business experience, driving innovation, real-world problem-solving and critical international exposure– IILM.

Are you ready to begin your entrepreneurial journey with us?

Book Review : The Geography Of Transport Systems

Book Review
THE GEOGRAPHY OF TRANSPORT SYSTEMS

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

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

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

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

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

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

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

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

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

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

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

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

4 Key Career Benefits from MBA Programs

MBA is often said to be the preferred Master’s education for those looking to work in the corporate world. A degree that grooms you personally and professionally to stay ahead in the rat race, an MBA from a reputed institute can put you miles ahead of your peers at your workplace. Its multidisciplinary approach is instrumental in training the candidates to identify key business opportunities and convert them to avail benefits. With sharpening of the minds and broadening your scope of knowledge, MBA helps you realize your true potential.

The degree’s benefits in the professional field are multi-fold. Here’s why an MBA will give you the edge at work:

You identify your core competencies:

The MBA curriculum is designed in such a way that you identify your core competencies and build on them throughout your time at the business school. You also learn to work on weaknesses to the point they don’t affect your work at all. This is done with the help of case studies, group studies and projects, industrial visits and more. You are groomed to quickly adapt to a dynamic environment ensuring your ability.

You network right: 

One of the biggest advantages of high-quality education at a leading PGDM college in Delhi NCR and other cities is that you meet a great set of peers who can help you grow and who can be a valuable asset in the future, be it for partnerships or job prospects. By interacting with your peers you also learn how to conduct yourself in a social situation and interact in a group, and understand the true essence of teamwork. You thrive in an environment with like-minded yet diverse individuals to form beneficial personal and professional bonds that last a lifetime.

bBA specialization, top 10 BBA colleges in India

You understand cultural shifts:

The multidisciplinary aspect of the course gives you a stronger foothold in understanding the cultural shifts. Whether you’re looking to switch streams, using an MBA as a stepping stone to another field, or are getting into entrepreneurship, you will realize that the course has honed your critical reasoning ability. Coupled with your core knowledge of the market and applicable strategy, you become a force to reckon with. The skills embodied help you understand the various complexities of the economy and how you can tackle them.

You become Indispensable:

In highly competitive markets like India, an MBA adds a big value to your profile. Companies also prefer MBA managers who can lead teams, hold strong in tough situations and offer new perspectives to resolve ongoing issues. It adds a layer of job security such that even if the company or the firm doesn’t work out for you, you can turn the tide to work in your favor.

MBA may be a strenuous course that pushes your limits to the point you struggle to catch your regular eight hours of sleep. But what you make of your time here at IILM can truly change the course of your career and set you off to new heights of success.

Active Learning: Innovative Teaching Methods of IILM UBS

The very essence of education lies in the evolution of teaching methods to incorporate meaningful learning. By meaningful learning, we mean education that caters to solving real-world problems. If IILM UBS has the tag of being one of the best business schools in India, then a lot of it is down to the innovative and relevant teaching methods that nurture hundreds of entrepreneurs and corporate leaders every year.

The integrated and experiential learning-based curriculum with a focus on global teaching methodologies is what sets IILM UBS apart from other BBA colleges. At a deeper level, IILM UBS understands that education lies much beyond simply books. The mantra that is followed by mentors and teachers is simple:

‘Preach and they forget; show and they might remember; involve and they will understand.’

Real-world case studies, simulations, and projects:

At IILM UBS, case studies are an integral part of the pedagogy. Through real-world case studies sourced from reputed organizations, students are encouraged to develop new perspectives and ideas in order to stimulate innovative and out-of-the-box thinking. Simulations provide students a chance to step into the shoes of real-life entrepreneurs and solve actual management problems, allowing students the perfect platform to utilize their concepts and learning. Through group discussions, students learn through feedback and benefit from shared learning.

Guest lectures and seminars by foreign faculty:

IILM UBS brings global experience, knowledge, and expertise through extended guest lectures which also include renowned foreign faculties. Live case studies, seminars, and interactions with successful entrepreneurs enable students to learn from vital experiences and discover their source of entrepreneurial inspiration. Students are also encouraged to take up group projects and develop ground-breaking business plans, thus learning teamwork as a crucial skill.

Guest lectures and seminars by foreign faculty

Entrepreneurship Development Centre (EDCs):

If you have taken a BBA admission at IILM UBS with an entrepreneurial idea in mind, then rest assured that the Entrepreneurship Development Centre (EDC) will help you scale the idea right from inception to development. This is where experiential learning comes into play – if you’re into BBA to be an entrepreneur, why not begin the journey in college? EDC helps students realize their start-up dreams by workshops, and discussions provide students with invaluable networking opportunities, exposure to the start-up ecosystem, entrepreneurial mindset development training, leadership training, and so much more.

 Global Study Programme:

Education nowadays means going global, developing inter-cultural competencies, experiencing international learning, and understanding the global market. This is where IILM UBS’ Global Study Programme comes in handy as it provides students with two weeks of exposure at partner institutions and universities in Europe, Asia or North America after the completion of every year.

Such innovative learning methods paired with specialized mentoring, excellent internship opportunities and world-class infrastructure help nurture the best entrepreneurs of tomorrow at IILM UBS.