Family Business Expansion: BBA Degree Overview

In an economy as booming as India’s, a lot has been attributed to the rise of entrepreneurship in the country. Be it your small-scale businesses to large MNCs, everyone has played their role. Family businesses too are extremely popular in India, with many young ones aspiring to join the same when they complete their education. A BBA degree may just be the boost they need.

BBA at IILM UBS is about making the most of that degree to contribute your family business’ expansion in multiple ways. A look at the BBA course details will tell you how the course is designed to introduce multiple disciplines to a person and help them identify their forte. The holistic approach to business education at the college can help you nail your role as the next leader of your business.

Delving into the know-how:

A BBA introduces you to the various aspects of the business. From understanding strategy to marketing, financial and legal knowledge, this degree forms the perfect stepping stone into understanding how your market works. Well-equipped with the basics of every field, you are more in command of your next step. It helps you understand how the sync between two different segments of your business can affect your top line business goals.

Widening your scope of thinking:

Among the best advantages of studying at one of the top 10 business schools in India are the exposure to a good faculty and high-quality peers with goals similar to yours. Interacting with a diverse set of people exposes you to different viewpoints of approaching anything. You get an insight into their worlds and it also helps you understand how they think and feel; this can help you sharpen your interpersonal skills.

Nurturing your strengths:

Every person comes with their own soft-skill sets which are honed in the baccalaureate years.  While you can gain knowledge of everything that governs how a company functions, you’ll be able to identify which fields have your core interest – be it logistics, marketing, finance, strategy, product or more. You can concentrate and build on that knowledge, and even specialize in it. The support you get from peers as you develop is going to be phenomenal making you more confident when you step into your family’s venture.

Staying tuned to the latest trends:

Every business needs to adapt to the changing times and trends that are more dynamic than they ever were before. A degree such as a BBA keeps you updated with the latest tools and marketing mediums, enables you to think beyond the traditional business intelligence, and makes you confident in predicting trends. This can, in turn, assist you in making changes to your business that ensures its strong standing in the market.

BBA degree empowers you with a strong foundation in business knowledge and equips you with soft skills that make you fit in easily in a family-run business. Step into IILM UBS to stand out as a leader for tomorrow.

HOW TO MAKE THE MOST OF YOUR EXPERIENCE AT A BUSINESS SCHOOL

After going through rigorous preparation and numerous exams, you’re finally accepted to your dream B-school.  Just as you spent plenty of time strategizing how to get admitted into the top management college, the same way it’s time for you to put together a plan to get the most out of your business school experience. The decisions and choices made during this time will impact your future substantially. If you’re wondering how you can prepare for what comes next, we’ve got you covered:

Remember your attributes as a student:

As you interact with your peers, you may realize that some of them are phenomenally accomplished, however, don’t let this intimidate you. Don’t forget that you too were accepted to this class for a reason. The school knows your potential and sees you as an asset, so focus on that.

Make friends with people of all backgrounds:

Most students gravitate towards peers who are from similar backgrounds but instead try interacting with people outside of your comfort zone to further enrich your experience.

Get involved in extra-curricular activities:

To reap the full benefits of the B-school experience, it’s important you get involved with activities outside the classroom. Besides, you will learn as much from these extra-curricular activities as you will from your studies. Additionally, this will also help you in networking with people from various courses.

Take time to explore academic options:

After the PGDM admission, don’t only stick to the conventional classes, explore a few other options, as you may never know what you may discover and like. Attend diverse corporate presentations, choose new subjects or interview with companies you wouldn’t otherwise.

Learn from your summer internships:

You may find many students working full time with their summer internship employer after graduation. If you didn’t have a great experience at your summer internship, remember, it is still worthwhile to have learned from the experience.

Stay connected to your classmates:

Do keep in mind that your classmates form your priceless network. Whether you like them or not, it is important to stay in touch with this professional network.

Always remember that you’re about to embark on a transformative experience, which you would want to take tremendous advantage of. This includes making the most out of the college faculty members to utilizing college resources to the fullest.

How IILM UBS is fostering a Mindset of Entrepreneurial Thinking & Creativity

Entrepreneurial thinking refers to one’s ability to see the world differently and find innovative solutions to a given problem. This is a pre-requisite in the fast-paced business world of today. From budding family business owners to those looking to fuel a startup vision, tomorrow’s businessmen and women must possess the skills required to identify market opportunities and find creative ways to leverage these opportunities.

With a BBA in entrepreneurship, you’ll be exposed to a myriad of experiences that’ll help you develop the skills required to start and manage a business. You will have the chance to explore new learning opportunities, develop your business strengths and overcome your weaknesses. Given the wide variety of responsibilities connected with running a business, the BBA curriculum focuses on holistic learning – from marketing and innovation studies to technical business processes. The end goal is to shape well-rounded entrepreneurs capable of managing and scaling successful businesses.

The central benefit of pursuing an entrepreneurship course at one of the top business schools in India is that you will be equipped with a host of promising career opportunities, including consulting, family business management, startups and corporate jobs. With training in entrepreneurial know-how, not only will you learn how to start a new business from scratch but you will also understand how to restructure, reorganize and expand an existing business. Additionally, greater creativity and problem-solving skills fostered at IILM UBS will give you that much needed push to fuel your startup dream. This is of special importance for students looking to find direction in terms of career goals. Student mentors play a critical role in helping you identify your core point of interest and assess its feasibility in the current market situation. Greater support is provided via Annual Entrepreneurship Conferences and the Entrepreneurship Development Center quarterly innovation weeks.

The 3-year BBA course is designed keeping in mind the special needs of budding business owners, with equal emphasis on imparting practical and theoretical knowledge. With extensive case studies, role-plays etc., you will undergo overall personality development and up-skilling preparing you for jobs in healthcare, retail, service industries, financial services, banking, startups as well as non-profit organisations.

Given the need of the hour, innovation is placed at a high pedestal in our institute. Not only does it create unmatched value for existing family businesses, it is also especially important for setting up a new venture and expanding it. Additionally, entrepreneurial thinking will allow you to stay ahead of others and maintain a leadership edge in the corporate world.

What are the Benefits of Specialised Mentoring?

Young minds are often given to traverse the depths of aspirations and opportunities to find the right path. Even though strong in will and ambitious in actions, the surmounting problem of a future life can be arduous to tackle alone. One then needs assistance from an expert who understands these goals and can guide you towards your calling. In simple words, students need mentors who can help them achieve their maximum potential. At IILM, we assign a dedicated mentor to each student who helps you through the thick and thin of academics, career, and the future. Mentoring sessions are a part of the entrepreneurship courses at the Undergraduate Business School at IILM. Read on to find out the various benefits of specialized mentoring:

Identifying Priorities:

Primarily, you must learn how to get your priorities straight and manage your time accordingly. With social media creating an eternal distraction in the lives of the young guns, our mentors help in determining the amount of time wasted. Subsequently, they urge the students to make practical plans to reduce the wastage of time. Finally, they help in establishing accountability for the plans to ensure growth and the optimum use of time to achieve the goals.

Managing the Financial Aspect:

Most students come to IILM to pursue the bachelor of business administration degree from different walks of life. Regardless of the family background, every student evaluates his/her financial position at some point in their educational career. More often than not, it leads to unwanted and unnecessary stress. The specialized counseling at UBS, IILM aids in exploring the financial worries, identifying wasteful spending, and helping you look for ways to do well post the completion of the course.

Managing Anxiety:

The elaborate curriculum and industry practices required to be mastered by students may lead to anxiety. You may feel like not being able to cope with the studies. Mentors at IILM lend guidance on how to get rid of irrational fears. Additionally, they help you manage your studies better and rearrange your thoughts towards a positive mindset.

De-stressing:

The business world gets the better of everyone every now and then. Therefore, how you handle stress and channelize your worries are essential. Specialised mentoring sessions are organized to avoid the stress from building up to a point where it becomes overwhelming. Regular sessions beyond school hours ensure that the students don’t over-indulge in unnecessary activities. They make sure that you don’t turn towards depression and ruin your life. By simply indicating triggering points and identifying activities and ways to cope with stress, the mentors introduce mindful ways of coping with the problems of the mind.

Moreover, mentors help the families of the pupils to keep a track of their child’s progress. The sessions emphasize ways for pupils to expand their family business, higher education abroad, starting a new business or finding a respectable job to excel in life and make a name for themselves.

Impact of Artificial Intelligence

Artificial intelligence (AI) is expected to change the way every industry works. It involves creating machines that can work intelligently like humans. The use of data is increasingly driving major decisions in different industries. This data when fed and used by machines give machines the wisdom to think like humans. Hence there is huge dependency on integrity of data. The need of the hour is data centric technologies and institutions will need to upgrade their curriculum to remain competitive. The key to getting employment in future is to upgrade skills of people and work towards specialization. The necessary skills required for data centric technologies are being identified to align educational institutions.

While changes are being introduced in the companies, one has to find a way to continue sustaining an income until the skills get upgraded.The limitations of humans will no longer be a concern with advances in robotics, artificial intelligence, and machine learning. With the use of Robots, the number of errors will reduce and the speed and quality of work will improve. Many countries that face limitations due to lack of youth in large numbers will no longer be behind in the race towards advancement. Labour intensive work will be automated and humans will take the activities that require critical thinking and analysis. The cost of performance in the long run will reduce though initial years will require huge investment towards automation. As per Mckinsey’s report, by 2055, half of the work activities could be automated. Humans would need to start getting used to working with machines. New skills will need to be acquired and the policies created by the government will have to be innovative to accommodate this major impact in type of employment.

AI has started delivering value in various sectors. Retail sector is using AI robots to check inventory and place orders automatically when the inventory levels are low. With the analysis of big data, retailers are able to predict sales and are able to manage inventory and make profits. Robots can work alongside humans in retailers warehouses and increase productivity. Delivery to customers can be done by drones like Flirtey. Check in and issuing of boarding passes have started without the requirement of human intervention in the airline industry. Manufacturing industry is seeing a drastic change. Optimization of processes across the value chain from refinement in product design to using AI based tools throughout the supply chain is possible.  In healthcare, AI can lead to better diagnosis with the use of big data analysis of patient history, other similar cases and treatment details. The insurance companies can use big data to improve their business model. Routine patient interactions can be done by AI enabled robots which have all the basic information.

Educational institutes will also have to rethink their strategy for sustainability. In Education, there are going to be virtual tutors who can tailor the curriculum for students. The education system will see a dramatic shift as AI will be able to forecast the need of future employers. Institutes are exploring how AI applications can be used to improve retention problems in students. Programs teaching computer applications are using a personal tutor which gives questions to students along with hints as well as increases complexity level of questions based on performance. Big data and analytics can be used to reduce drop-out rates in students. Educational institutes will have to promote adaptive learning and teaching, looking at student data and use personalized and effective teaching methods.Value add work will continue to remain with humans and thus teachers will be expected to mentor and coach students. The primary areas would be creativity, emotional intelligence and communication which maybe beyond machine’s capability. Machines will cater to the routine queries of students can be automated to save time and effort. The technology is pervasive and has also entered grading. A company GradeScope uses machine learning to grade students on the basis of teachers instructions and students handwriting, though it is more for objective type of questions. Thus the focus of the teacher can be on higher level value add areas rather than routine queries, administrative work and basic lecturing.

Several key factors will determine the level of automation and its adoption. The technical feasibility of automating the task at hand for every industry will need to be evaluated. Since automation will take time and investment, the adoption will be dependent on the cost of development and implementation. The economy will struggle with the shift from cheap labour to buying expensive machines and experimenting. Though the economy will benefit because of better quality and speed of work, the acceptance of this change will determine the speed of adoption. Thus the day to day activities are not forecasted to change fast. At the micro level, changes are expected, however at the macro level it will take decades before complete adoption is seen.

BENEFITS OF STUDYING AT IILM UBS

With high-quality academics and impressive study abroad programmes, IILM is ranked amongst the top tier B-schools in the country. It’s been 25 years since the inception of the venerable management institute and through the years, IILM has displayed incessant and consistent efforts to deliver superior quality education to its students. This dedicated commitment has been recognized with a number of accolades that the institute has been honored with year after year. In 2017, EdUniversal ranked IILM as the 11th best business school in India. Keep reading for the IILM BBA course details that set it apart:

Centrally Located Campus:

The central location of the IILM campuses gives students the opportunity to take advantage of the numerous resources and stakeholders available in the vicinity, as well as a chance to network with the influential community present in the national capital. IILM has three strategically located campuses. One campus location at Lodhi Road, the political center of the country, enables students to be aware of the developments in politics as well as business. The second campus in Gurgaon’s Golf Course Road, the industrial hub and nerve center of start-ups, gives students the opportunity to network and learn from established and budding entrepreneurs. The third location in the Knowledge Park of Greater Noida provides a knowledge-sharing platform for the students with universities and large firms located in close proximity.

BBA in Entrepreneurship, undergraduate program

Global Exposure:

The BBA college at IILM offers the Global Study Programme to develop intercultural competence in the students. The Programme includes lectures on Strategic Management, Entrepreneurship, Digital Marketing and Innovation at the partner institutions abroad. The students have the unique opportunity to study at a campus located in North America, Asia or Europe and immerse themselves in the local culture as well as participate in company visits abroad.

Family Business Mentoring:

Many students at IILM either join their family business or start their own business after graduation. At the business school, you are assigned a mentor with whom you have the opportunity to ideate, discuss and incubate your ideas, as well as seek advice for challenges that a family business may face. These mentors are expert faculty members who give students individualized guidance depending on the varied background and interests of the students.

The BBA programme at the institute is quite popular, especially in today’s day and age when the demand for management experts is constantly on the rise. IILM has a vast alumni network of over 9000 students that have been placed in some of the biggest firms in the industry. IILM offers its students numerous benefits and promising future prospects, which is why the institute is the preferred choice for many students.

4th Annual Entrepreneurship & Family Business Conference on “Changing Paradigms: Innovation, Entrepreneurship and Family Business”

IILM institute for Higher Education organized the Fourth Annual Entrepreneurship and Family Business Conference on 6th April 2018 at its Lodhi Road Campus.  The conference was centered on the theme “Changing Paradigms: Innovation, Entrepreneurship and Family Business”. This conference aimed to explore the importance of innovation and sustainability for an entrepreneur and associated opportunities and risks. The conference also uncovered the key challenges faced by Family Businesses in high potential economies such as India in the era of digitization and the need for digital transformation for sustenance. The Conference was structured around three key sessions.

The conference began with the welcome remarks by Dr. Daisy Mathur Jain, Dean IILM-UBS. In her welcome address Dr. Daisy gave an overview of the Entrepreneurship focus at IILM with special focus on opportunities that students get to gain experience and hone their skills. She also spoke about the various international affiliations IILM has with Universities across the globe. IILM is also affiliated with the Family Firm Institute (FFI), Boston. This year, IILM is also introducing an M.Sc. in Family Business as a post graduate specialization in partnership with SBS Swiss Business School, Switzerland.

The Inaugural session comprised a keynote session by Ms. Sonu Bhasin, Founder, Families and Business, highlighted that family businesses are the unsung heroes of the Indian economy by citing interesting figures to support her claim. She fervently held that Entrepreneurship is a state of mind and an ability to get things done, using the analogy of a line black ants and the flow of water. She also underlines that failure does not stop entrepreneurs, rather it eggs them on, because they believe in their purpose. She added that it is important to remember and keep the focus on the family values for a family business to succeed and remain successful. She ended on a positive note that today the time is right to start and entrepreneurship because digitization has reduced capital requirements, technology is an enabler that has opened a plethora of opportunities to this generation that earlier ones did not have access to. She urged the youngsters to go ahead and start something new.

The first plenary sessionwas entitled “Entrepreneurship, Innovation and Sustainability”wherein Ms. Guneesha Kohli, Business Head Malika International, Mr. Sameer Talwar, Founder Entrepreneur of Excellence, Mr. Raman Talwar, Founder Simulanis and Mr. Rijul Bajaj, Co-founder Samshek Foundation shared their insights. The speakers emphasized that innovation is nothing but challenging every assumption and reinventing what you do to make it faster, more efficient and better. Each of them, through personal examples,  underscored the need to be open to failures, to learn from them, to stand up once again and to not give up on the dreams.

The second plenary session on the topic “Digital Transformation of Family Business Firms” was also the closing plenary. Mr. Virendra Teotia, Owner Umrao Hotels, Mr. Ridhay Khanna, Owner, HH Global and Mr. Aviral Aggarwal, Director Bikanerwala, shared their experience and paved the possible way forward.Each of them spoke about the role that technology and digitization plays in reducing costs in massive ways for marketing and for reach, for building customer relationship and branding. They also underlined the need to be flexible and adapt to technological change by transforming business and the way it is run.

Active participation from students and faculty made the conference a great success.Itprovided an opportunity for students and faculty to engage with and listen to new ideas and experiences from distinguished speakers and also to network with established entrepreneurs and investors.

A Day at IILM Business School

A positive study environment is no less important than a strong curriculum. Finding mentors in your teachers and inspiration in your peers is a sure shot way to succeed and stay ahead in the business world. Keeping up with this ideology, the IILM business school has three beautiful campuses in New Delhi, Gurugram, and Greater Noida respectively. Each campus is designed and maintained with the end-goal to nurture, develop and skill responsible entrepreneurs of the future.

Spending a day in the IILM business school, you’re bound to interact with students hailing from the length and breadth of the country, bringing with them various backgrounds, communities, and ethnicities. This has aided the development of a strong learning environment, brimming with positivity, vibrancy, and diversity. Every interaction is an opportunity to learn about new aspects of varied lifestyles – further pushing the development of well-groomed, all-around individuals, ready to succeed in the corporate world.

top MBA colleges in Delhi

The diverse culture of the campus finds manifestation in Manchtantra – IILM’s Cultural club – formed with the aim to add a holistic feel to PGDM and executive PGDM courses offered by the college. With abundant opportunities to engage in extracurricular activities, students learn the value of cooperation, confidence, and how to work together in teams. This goes a long way in developing important coping mechanisms required for facing challenging situations and tough circumstances. Life at IILM is marked with innumerable chances to embrace your creativity and celebrate your cultural values. By being involved in the organization and execution of various events, you get to learn management lessons while enjoying a fair share of fun.

The zeal for innovation and creativity is furthered through the incubation center. IILM students have access to iLabs, a platform to develop unique ideas and give them wings. The college premise offers the infrastructure to start up with an office space, followed by interactions with potential investors and venture capitalists for guidance and finance possibilities. This is in line with the larger goal to promote holistic development and real-world training for students of pg diploma in management and executive PGDM.

The location of all three campuses has been strategically planned to ensure that students are safe, secure and have easy access to important sites. The Lodhi Road campus is situated in the heart of South Delhi, with so many exciting things to do nearby. The Gurugram campus is in the hub of NCR’s industrial center, lined with all-important corporate offices and startups. The Greater Noida Campus, located in Knowledge Park allows great opportunities for interacting and networking with like-minded, industry individuals. IILM Business schools in Gurugram and Noida also provide hostel facilities, creating a friendly environment where students can work and learn together every day.

All in all, a day at IILM Business School is enriched with a host of exciting experiences. From interactive classes and cultural activities to the incubation center and hostel facilities, every corner of the campus has something inspiring to offer.

Smart Cities, The Future of Sustainable Infrastructure: PRME 2018, IILM

After a highly educational first session on the 2nd Day of the PRME Conference at the IILM campus in Lodhi Road, it was time to dig deeper into the issues plaguing sustainable development, resolution of which could accelerate the achievement of the SDGs. One of the major issues that needed to be addressed before implementing educational reforms was sustainable infrastructure, an aspect often overlooked in the scheme of things. Coordinated by Prof. Anirudh Luthra, the speaker panel of the session on Infrastructure Through The Lens Of Sustainability consisted of stellar personalities bringing in immense knowledge and experience for the eager young audience from top MBA colleges in Delhi.

Grow Smart, Be Smart:

Colonel Prakash Tewari, Executive Director at CSR wing of DLF Foundation, took the stage to shed some light on practices and knowledge needed to grow ethically and responsibly with sustainable infrastructure. He took the enraptured audience through the journey of building a smart city by elaborating on the evolution of Gurugram with DLF, rising from a barren land to a hub of housing offices of major Fortune 500 countries and contributing 3% to India’s total GDP. He also acknowledged that every resolution needs to be well-informed, after considering social, ecological, economic, and political factors that can be impacted by the resolution.

Needed Focus on Resource Longevity:

The second speaker for the session was Mr. Pranshu Gupta from Accenture Strategy India, who led an interactive session with the audience on their perception of Sustainable Infrastructure. He emphasized on the resource longevity as one of the core aspects of sustainable infrastructure that needs more focus. He illustrated his concern with the concept of Day Zero, a condition affecting Cape Town on a large scale. With 60% of India’s population posed to reside in cities by 2030, huge pressure on natural resources is anticipated. Such incidents, he said, would slowly snowball into the much-feared 2 centigrade worldwide temperature rise. Grim realities of global warming were also brought to the forefront, indicating that starting and implementing changes for sustainable development at the earliest was extremely critical. Mr. Gupta then proceeded to identify the challenges and opportunities associated with building smart cities – from ecological to financial as well as legal, along with the execution that plays a big role in determining the success of sustainable infrastructure development.

Benchmark & Performance Metrics much needed:

The final speaker of the session was Mr. Ajay Tyagi, Managing Partner, Lex Terrae who held a conversation with the audience and other speakers about maintaining a uniform standard and accountability for building every smart city unit across the country. He highlighted the importance of indulging in critical analysis of the solution before the actual execution of the tasks. Mr. Tewari elucidated with a real-life example of canal-building in the desert area of Rajasthan that eventually led to much-bigger ecological problems, thereby emphasizing the need for a thorough evaluation considering everything that could be affected by the move.

During the Q&A session that followed, the impact on and contribution to rural areas was brought to the surface where the speakers highlighted the effective and very often ingenious solutions the rural folks had for sustainable infrastructure around them. This affirmed their views that drawing knowledge from the local population can be extremely beneficial in creating solutions that can be applicable everywhere. The extremely enlightening session ended with a thunderous round of applause, all students from top MBA colleges in India invigorated and knowledgeable about the huge potential that came with building sustainable infrastructure to save the future.

Education and Its Impact on Sustainable Development: PRME 2018

Education has for long been acknowledged as a pillar to support and enhance sustainable development. On Day 2 of the PRME Conference at IILM, one of the top MBA colleges in India, education and its role in pursuing SDGs (Sustainable Development Goals) took center-stage in the first session of the day. During the session on Laying The Foundation: Alignment Of Management Education With Sustainability, the support of education was discussed and evaluated by the esteemed panel of speakers who shared their insights with respect to the institutions and organisations they represented. The session was moderated by Dr. Shuchi Agarwal.

Moderation of consumption with education:

Mr. Manoj Sinha, principal of Aryabhatta College, University of Delhi, brought to light principles by Mahatma Gandhi that was extremely relevant in today’s world struggling with sustainable practices. Quoting the Mahatma’s famous saying ‘there is enough on Earth for everybody’s need, but not enough for everybody’s greed’, Mr. Sinha emphasized on moderation of consumption to ensure sustainability. He also brought forward the importance of education and its accessibility that could raise awareness on efficient applications to reduce consumption and support sustainable development.

Of making judicious choices:

The next speaker on the dais was Mr. John Verghese, Principal of St. Stephen’s College, the University of Delhi, who supported Mr. Sinha’s views on education and its accessibility. He further elaborated on the empowerment that comes with education, saying his point by citing the example of a hungry soul who would be in better control of the future when taught how to fish to feed self, rather than being provided with fish to feed self. A sound, well-informed education not only enables one to think of the best ways to respond to a situation but also how to execute the same, keeping in mind all socio-economic-political conditions.

How blockchain can change the game:

Mr. Siddharth Sibal, VP, Accenture, brought in his rich corporate experience to introduce how innovation is the key to sustainable development. He shared valuable insights from his travels and knowledge and encapsulated with how countries such as Russia, Costa Rica, China, are tackling development with improved digital technology. Mr. Sibal also addressed the exploding popularity of blockchain technology, and how it was becoming the base for decentralization. “The applications of blockchain in each and every field they can be implemented to can yield fantastic results for sustainable practices,” he said. He exemplified his point with SolarCoin, a direct application of the technology as the form of cryptocurrency developed to support global solar electricity generation. The peer-to-peer controlled system has been effective in distributing energy from ones who are producing excess energy with solar panels, to those who need more energy.

The speaker session concluded with a Q&A session where the enthusiastic attendees interacted with the speakers on their own possible roles in sustainable development. On being asked what kind of managers from MBA colleges can lead the movement for sustainability, Mr. Sibal replied, “The ones who think out of the box and have the passion to create. Only those with a hunger to create can innovate ethically and responsibly. And nothing less is the need of the hour for sustainable development.”