General Blog

Python for Data Science and Visualization

Blog Catgeory, General Blog

Python is the most widely used high-level programming language. It is the simplicity that makes Python a favorite language with coders and data scientists. Non-programmers feel uncomfortable when they are asked to work on a programming language.

But I have a justification – do you know simple mathematical and logical functions of MS-Excel. If yes, you can easily handle programming language like Python.

Before talking about Python let us know what is Data Analytics? Today, Data science is an attractive career option. Analytics is a blend of Big Data, statistical methods, and management decision making. Businesses are generating large amount of data as they are online now more than ever. Data comes in the form of text (opinion), number (satisfaction rating), voice messages, and videos (product reviews after delivery). To be ahead of competitors, businesses wish to analyze the data, make meaningful outcomes to take informed decisions.

Let me introduce you with Python – Python is a production-ready computer programming language, this language is used in multiple operations. One of its tasks is data analytics but it is not specifically meant for data analysis. It’s an open-source language so you don’t need to pay anything, just download Anaconda and start working on Python.  Python facilitates libraries, online communities, and a limited number of packages that are easy to use. Its best feature is the visualization of data. After using various software to make an eye candy chart I think, my search ends at Python. Yes, it’s a command-based programming language where you have to memorize commands or make a note to use them at the right time. Where Python is a winner or loser? It is the non-availability of GUI or Graphical User Interface like MS-Excel, SPSS, or SAS. But at the same time, it is a boon too. GIU limits the creativity of the user; the user will get only the features that are available with the software. But with Python, you can add features. Two examples of the charts are below-

At present, the software available in the market for the statistical calculations like R, MS-Excel, SPSS, SAS etc. All of them have some challenges and some benefits. If you will check vacancies in the top-paying jobs you will find

Today, there is varied software available in the market for statistical calculations like R, MS-Excel, SPSS, SAS, etc. All of them have some challenges and benefits. If you look at top-paying jobs you will find that companies are running behind Python. Let’s see how the other statistical packages fare in the race.

  • R – R and Python are the most widely used statistical software in the field of data analytics. The reason for their popularity is they are open-source; one can download them, learn about them, and start working without paying a single penny. However, which one is better, and why? Let’s see –
  • R is an academic tool specifically designed for statistical research only.
  • For learners, Python and R are easy at the beginners’ level but when it comes to advanced functions, R becomes complex and is difficult to develop expertise. When you will shift from GUI based software to R or Python, initially it will seem daunting due to typing commands and no usage of mouse.
  • R loses the race when it comes to visualization. Finding the right package for visualization can be a tedious task for a beginner as there are 2000 different packages. In Python, there are few packages like Seaborn, Bokeh, and Pygal that are easy to remember by a practitioner.
  • MS-Excel – MS-Excel is software in the MS-office package developed by Microsoft Corporation. If you are known about the formulas in excel, Python will be easy for you. Because you can use mathematical, logical, and other operators while writing commands.

But still, Python wins the race.

  • MS-Excel is paid but Python is free.
  • MS-Excel is very easy to learn, but cannot handle data faster and easier.
  • MS-Excel is not capable of advanced statistics, and machine learning.
  • Detecting and fixing errors is a challenge in MS-Excel.
  • In the case of advanced visualization, if you are stuck in MS-Excel there are no solutions available. Options of a community (a group of people online that help each other in solving issues) and libraries (data set on which you can practice and improve your problem-solving skills) help is not available for MS-Excel.
  • SPSS – SPSS is a statistical package for the Social Sciences and is a popular product of IBM. It’s popularity is due to its GUI which is similar to MS-Excel.
  • For learners purchasing SPSS is a costly affair, it disappoints aspirants who wish to learn data analysis using the software.
  • Some other features that are lacking are non-availability of online communities and libraries.
  • SPSS becomes slower when you are handling an extremely large data set.
  • SAS – Statistical Analysis System or SAS developed by SAS Institute at North Carolina University. It is popular because it addresses the problems that MS-Excel and SPSS cannot handle. Due to its high safety ratings, banking and insurance companies prefer to use it. But, it is expensive software priced in India at INR 20 Lacs.

Of course, Python has not captured the complete analytics market but it is getting consideration. The reason is that we see mushrooming of startups in the area of web designing, e-commerce business, leading to increase in data usage, and its open-source availability. Students looking for a career in Data Science must keep Python in your quiver. It will be a useful tools that can enhance your job and career prospects.

For more information on Python-related readings follow my blogs on IILM Blog site https://blog.iilm.edu or write to me at ashutosh.singh@iilm.edu.

Global Production

Will India Emerge as the Global Production Hub?

Faculty, General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM University

Will India Emerge as the Global Production Hub?

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

Shifting of Manufacturing Base

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

Moving out of China

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

India a Favorable Alternative

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

Diversify

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

Relaxing the Norms

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

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

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

Deeksha Garg

PGDM Student

 Dr. Kumar Saurabh

IILM-GSM

Reforming our Education System- Student Blog (Kirti Manektala B.A(Hons)Psychology Year II)

General Blog, IILM University, , ,

“Education is what remains after one has forgotten what one has learnt in school” -Einstein

Introduction

The Indian education system is largely based on rote learning. Students focus more on memorizing the facts rather than understanding. This creates a bridge between education and knowledge. UGC even during the pandemic amidst the lockdown announced exams stating that exams are linked directly to academic credibility, career opportunities and future progress.

The question remains why are exams so important that even during the course of a pandemic which is causing a physical and a mental toll on people; UGC considers exams as an essential? Exams are built to test the rote learning capacity of a student rather than their actual conceptual understanding. In the real world, understanding the practical application is what comes in handy rather than mugged-up concepts.

Are marks so crucial for our future?

Marks still continue to be the most important factor in deciding the future of children. College cut offs, choice of streams, career choices, etc are all dependent on the marks a student score. 90% plus students choose the science stream, an 80% plus gets math, etc. The streams aren’t governed by choice but rather by 10th marks.

A 3-hour paper evaluates the individual’s potential, future and career choices. Evaluations should be based on real life skills as well as practical skills such as leadership, extra curricular, etc but rather they are based on a person’s ability to memorize provided content.

Subjects are also given different priorities for example: science students are given a priority over students with commerce or arts. Languages, communication, arts etc in the subject hierarchy are not considered as important as sciences.

Maths and science marks always determine a student’s overall capability. Students good in social sciences but lacking in math and science often find themselves condemned for their science and math marks despite their capabilities in other fields.

Similarly, students good at extracurricular such as sports, drama or dance but not above average in marks often face academic judgement.

Practical Knowledge over Rote Learning

A student’s potential to excel in subjects, academics and extracurricular often depends on their aptitude which is largely genetic. For example: a student with logical mathematical aptitude would excel in math, a student with linguistic aptitude would excel in languages and one with bodily kinaesthetic aptitude would excel in sports or dance. Education needs to be personalized according to the student’s aptitude. Similarly, our education system needs to focus on practical learning rather than rote memorization of textbook content. Students need to be taught practical applications of the knowledge provided in their books.

Media overemphasizes on excellence

Oftentimes news reporters are seen interviewing board toppers where they ask them the most basic general knowledge questions and the toppers are unable to answer the same. Similarly, reporters also interview school teachers who are unable to answer the basic general knowledge questions.

This showcases a large loophole of our education system where students are aware of what’s written in the book due to their memorization capacity but they are unaware of basic general knowledge required in real world settings.

An 18-year-old student coming out of school is incapable to engage in basic banking, healthcare, investment, etc. Students are unaware of basic necessities such as how to wire money, how to write checks, how to file FIRs, how to file a PIL, how to write actual formal letters and emails, create CVS and resumes, how to check taxes, etc which makes them incapable of dealing with real life tasks which are rather important.

Different learning styles

Every human being has varying learning styles- visual, oral, verbal, physical, logical, social and solitary i.e. everyone has different ways of acquiring information. Our education system doesn’t take into consideration the difference in learning styles.

Education system needs to be moulded according to the learning needs of each and every individual. This would increase the effectiveness of the learning provided to each and every student. Rather than focusing on group learning where every student is supposed to acquire the information in the same way, education should focus on the strengths and weaknesses of every individual.

Similarly, the assessment types are again generalized rather than subjective for example: personality types- students who are introverted often find it uncomfortable to participate in group projects or present yet every student regardless of their individual differences are boxed up into the same type of learning as well as the same types of assessment. Every learner, every individual, etc is unique and that is something which education system needs to seriously consider.

Education is a journey to development

Education is an important part of an individuals’ growth and development. To create human resources, which would actually contribute to the resource pool of the economy we need to reconsider our methods of teaching. Adding technology to the equation doesn’t resolve the outdatedness of our education system. It is important that as we evolve our education system also evolves. It is important that education considers neuroscience, cognitive psychology and education psychology and creates a framework which is effective.

Conclusion

Education should focus on growth but shouldn’t create pressure. We need to consider where we are going wrong. Change is the only constant and our education system needs some serious change.  What are your views on the Indian Education System and how do you think National Education Policy 2020 would help in bridging the gap between education and employability?

Everyone is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid. – Einstein

https://blog.iilm.edu/kya-result-aaya-boards-2020/

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

General Blog, IILM Institute for Higher Education, IILM University, Uncategorized, , , ,

 

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

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

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

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

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

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

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

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

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

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

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

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

“Kya Result Aaya?” #Boards 2020

Campus Life, Career Development (Placement), General Blog, IILM Institute for Higher Education, IILM University, Uncategorized, , , , , ,

Introduction:

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

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

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

100% Board results-2020

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

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

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

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

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

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

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

Experience the “Joy in Learning at IILM”

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

Conclusion:

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

 

“Every accomplishment starts with a decision to try”

This shall too pass…till then let’s try Meraki!

This shall too pass…till then let’s try Meraki!

Alumni, General Blog, Guest Blog

I know those frowning faces with irksome stretched online classes or work from home, as they say it’s the new normal or ordinaire. What’s normal or what’s not, I am not here to infer that. Neither am I here to draw conclusions about who played the bad-boy and ignited our 2020 with full of remorseful endeavours. Neither shall I salt the wound of families who have been affected by the pandemic. We all know about it. And we all are waiting to surface our sorrows and joys above it; float above the virus massacre of 2020.

Then what must our dialogue entail…time to ponder!

Have you guys ever thought about why all of a sudden, it’s us? Us in the brink of an utmost apathy by our creators–the nature, the water, the air, the sky and above all the earth? Maybe yes some of us have, through fathomless research, readings; and maybe not! But my implication is not soul-searching but rather to pull our lives back exactly to the years gone by and re-think to relive it differently. Now how’s that possible? As we all are judicious beings, we believe in tangibility mostly. Money is time’s new definition and more the time, let’s pour some more money…isn’t it? Don’t worry, we all have our minds clocked and locked on our wellbeing… we create and think to create more often. In the midst of only creation of means to wellbeing, we lose most of it by the time we realize it.

Hence, let’s come back to my fundamental ask—Can we re-think or re-live our lives backwards? Scientifically we can’t as time is a factor that is linear…even if somebody builds or secretively has a time machine- we can’t redo our lives—as physicists might argue about paradoxes! On possessing a very unscientific, illogical mind, I’ll offer you my consolation of not being able to solve that paradox. But my dear smarties, we can certainly re-live our lives- in moments of our passions that we enjoy the most while executing- Meraki.

Meraki will guide you and your work (be it studies/profession/job/hobbies) in a time where everyone is busy tabulating the viral count across the globe. Somebody asked me if Meraki is a replicated version of Tiktok or yet another type of a PS4, I smiled back to them stating, ‘It’s my bad!’ So, if you guys are unsure of Meraki, I have already smirked at you all too. Since, I believe that I have induced in the right vocab in your dictionary now.

Now let’s see how this Meraki can help you evolve from this situation that is going to persist for some more months.

  • Whenever you wake up- put Meraki into thankfulness for still being alive! Hurrah!
  • While preparing morning tea/breakfast/helping your house-mate-involve meraki
  • While relaxing, add observational task as your meraki
  • While petting your bird or dog, look at them and pet them enough to utter meraki
  • While cleaning your house-meraki can do a better job than most trained house helps
  • While taking up your online courses, meraki might help you achieve an A plus
  • While reading a book, it can turn you into an online book reviewer
  • Just wondering if while reading this article, your meraki can make you like it 😉

There are too many mundane yet necessary tasks/activities that we do undesirably with great complaints. However, using the miracles of meraki, we can change our lives, we can relive ourselves in small yet ordinary tasks… what used to be a complaining, boring and uncool and unproductive hours of our lives yesterday could be our elated freedom in times of today.

Meraki is the spice we need to blend in our activities of today so as to relive those mundane moments. As the crisis has proven to us that life and its associated echoes are not old-fashioned—what’s uncool is the regular whines, the complaints and ultimately no life at all!

My focus is more on your well-being, your pustimarga and Meraki is the way forward.

Reach out to thank me! 😉

Note: Meraki is a Greek terminology that believes in putting your heart & soul into whatever task/work you do. I hope that helps! ☺

Nidra Naik
Novelist & Poet
Accenture
PGDM Batch 2004-06, IILM Lodhi Road

Email: nidranaik@gmail.com
www.nidranaik.com

Role of AI in Financial Services

Role of AI in Financial Services

Career Development (Placement), Faculty, General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM University, , ,

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

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

Impact of AI on jobs

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

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

Emerging Profiles in the Financial Services Domain

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

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

Skills for Future Financial Services

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

Contribution of IILM in your journey

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

Personality Traits in Mahabharata and the Ocean Model

Campus Life, Center for Emotional Intelligence, Faculty, General Blog, IILM University, , , , , , ,

Introduction:

While going about our usual day we interact with people, judge their personality as to how they are different from us and at times compromise  with the changing facets of their personalities without even thinking. We unknowingly almost like an automatic response form opinion about people depending on their overt behavioural responses.

Why we do this? Because we humans are wired for curiosity to know more about our environment aWhy we do this? Because we humans are wired for curiosity to know more about our environment and the people we live with. Like when we notice someone at a party surrounded by a large group of people, obviously the centre of attention, chatting and laughing; we may conclude that person is an extrovert.

So, how do we understand personality?

While studying personality we assume that personality characteristics are relatively stable over time and that traits show stability across situations. For example, someone who is described as an extrovert may be very outgoing and chatty at a party but less so in a conference. In both situations, they are likely to be more sociable than an introvert person. We also assume that personality traits influence behaviour. The person is outgoing and chatty because they are an extrovert.

At IILM, we offer courses in personality to undergraduate courses to help them discover themselves as well as understand our basic individual differences.

Personality and its spectrum

Cattell (1965) defined personality as being the characteristics of the individual that allows prediction of how they will behave in a given situation. Psychologists increasingly agree that five super traits may adequately describe the structure of personality.

Costa and McCrae (1992), who measured personality with their OCEAN model represents a continuum along which individuals can be explained in terms of their traits.  For a better understanding of these traits, the following is my explanation of how characters and their personalities were depicted from Mahabharat.

Characters from Mahabharat to explain OCEAN Model:

At IILM the curriculum is an interesting blend of science and mythology. I will explain how we teach traits to our Psychology students with the help of characters from Mahabharat.

OPENNESS – This factor refers to the individual having an openness to new experiences and an active imagination.

Karna was seen to be high on this scale as throughout the epic he justified his never-say-die attitude and courageously confronted all the odds of his destiny. His character in Mahabharata has everlasting fame because he teaches how can one present himself better than the destiny and accomplish everything with shatterproof determination. Bhima was seen low on this scale as he was conventionally oriented towards a particular goal that is of being the mightiest warrior.

CONSCIENTIOUSNESS– This factor describes our degree of self-discipline and control. Yudhishthira was high on this scale; was hard-working, organized, goal-driven whereas Shakuni was seen to be low on this scale as he is the person who poisoned the mind of his explosive nephew Duryodhana and fuelled-up the destructive war of Mahabharata, thus becoming the cause of the destruction of the Kauravas.

EXTRAVERSION – This factor is a measure of the individual’s sociability, energetic, optimistic, friendly and assertive.

Krishna was high on this scale as he attempted to navigate negotiations between the Pandavas and Kurus before the Kurukshetra war even happened. He convinced Balarama to not partake in the war itself. He even tried to get Karna to fight for the Pandavas as well. Sahadeva was shown to be low on extroversion, even though as the wisest of all the Pandava brothers he mostly kept to himself reading Vedas, spoke less and followed mostly what his elder brothers decided upon him.

AGREEABLENESS – This factor relates to the characteristics of social interaction. Individuals with high scores are trusting, helpful, soft-hearted and sympathetic.

Bhishma was high on this scale as his peerless statesmanship to be the mediator between the Kauravas and Pandavas and other impeccable characteristics still inspire his ardent followers across the world. Dronacharya was low on this scale as he discriminated against Karna and Eklavya on the basis of their caste. He did not voice out any objection in the court during Draupadi’s assault.

NEUROTICISM – This factor measures an individual’s emotional stability and personal adjustment. Duryodhana is seen to be high on this scale as he is motivated by greed, jealously, and a desire for retribution. Yudhishthira was low on this scale as he is calm, even-tempered, secure and happy.

Is there a situational difference when we portray our personality?

Psychologists explain this by segregating personality into a private and public persona. Private being the ‘real’ inner person, while public is the way that the individual presents themselves to the outside world. We may be confident and outgoing in some situations and less sure of ourselves and more retiring in other situations. A case where a shy reserved person joins an organisation but eventually becomes an arrogant and stubborn boss. This fits the explanation of how our personalities differ situationally.

Conclusion:

As much as individuals behave differently in different situations, our behavioural reactions can be clubbed into traits as similar reactions across age and cultures. To conclude, we can say that each one us is uniquely different yet distinctively similar as well.

 

“Personality is a mask we believe in”

Dr White

 

Myths about Green Economy: Busted

Alumni, Campus Life, Career Development (Placement), General Blog, IILM Graduate School of Management, IILM Institute for Higher Education, IILM Undergraduate Business School, IILM University, , , , , , , ,

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

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

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

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

Let us burst the Myths about Green Economy

#Myth-1 Industry transformation in Green Economy

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

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

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

#Myth-3 Growth of Green Economy is perceive slow

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

#Myth-4 Career and Job Opportunities are limited

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

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

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

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

Psychology and Your Future in India

Career Development (Placement), General Blog, IILM University, , , ,

Introduction

Today’s disruptive changes have made Psychology one of the most sought-after careers. The demand and supply chain in Psychology will help overcome obstacles in personal and professional lives in the future. Our fast-paced lives, demanding jobs and complicated family dynamics are making mental health a prime issue of survival in the 21st century.

Countries across the globe are looking at making mental health equally imperative and vital as physical health. Therefore, the role of psychologists in future will become as crucial as our medical workers. Simply put, we may take medicine for any physiological ailment, but what about societal, global pressures coupled with tragedies? There is no known medicine to handle all that, hence Psychology becomes crucial as a subject to be pursued.

Psychology as a subject and its specializations

Psychology has been an undercurrent in any field offering a myriad of opportunities. IILM University, which is considered one of the best colleges in Delhi/NCR for Psychology provides components of the following in the course as fusion in undergraduate as well as specialization in masters.

Clinical Psychology: Anyone who has been a student of Psychology has been amazed by abnormal psychology and at least once aspired to become a clinical Psychologist. Facets such as diagnosis, understanding and management of disorders while working in hospitals, rehabilitation centres come under this. Given the emotional pressures people go through, the demand for good clinical psychologists is expected to rise. We hear and see many celebrities openly discussing their mental health and concerns. This trend has increased awareness and acceptance towards disorders and with time the need for experts in clinical psychology is only expected to grow.

Counselling Psychology: Counselling is like a second skin to any Psychologist as it deals with facing day-to-day scenarios and its management. Counselling being a broader term branch into career guidance, marital and academic. Counselling Psychologists are seen working in private set-ups, career centres, schools, NGOs and organizations. Today, it is required across all walks of life, and the need for it will only continue to grow. At IILM, we invite guest lectures as well as electives in CBT/REBT for Psychology students.

Organizational/Industrial Psychology: Psychologists in this field focus on workplace issues at the individual, group and organizational levels to enhance the productivity of the employees and ultimately the organization. As more and more MNC’s are paying attention to the mental health of their employees, Psychologists with I/OB specialization are working in HR as consultants/managers and are assessing emotional, social intelligence and performance in the employees.

Developmental/Child Psychology: This field works with lifetime development of human beings focusing on psychomotor, cognitive, as well as emotional development from early years. Popularly known as Child Psychologists they work mainly with children in therapy centres, schools, paediatric setups, NGO’s with close association with special educators and psychiatrists.

Sports Psychology: This is a fairly new branch that works with athletes’ physical and cognitive performance along with coaches, nutritionists as well as physiotherapists. Sports Psychologists endeavours to help sports teams to increase performance and motivation of sportsmen. India being a sports passionate country, this field has a lot of scope as a career.

Forensic Psychology: This branch deals with legal and judicial systems and is closely related to criminology. At IILM we help B.A students, enhance their understanding of laws in India while offering Law as an elective course.

Military Psychology: This is yet another contemporary branch of specialization dealing with military personnel and their families. Concerns such as depression, anxiety, grief as well as stress-related issues are taken care of by evaluations and treatment of mental and emotional disorders along with counselling. Psychologists are routinely hired in forces and are doing extensive research and policy-related work.

How to pursue Psychology as a budding career?

In India, we can pursue Psychology from graduation level (Psychology as a subject in Class XI & XII is preferred) and then pursue a B.A. / B.Sc. programme in Psychology. Master’s programme in Psychology is mandatory for seeking a career as a Counsellor as well as to apply for a job. M.Phil. is important to practice as a clinical psychologist and may accompany it with diploma courses in any therapeutic work (cognitive behaviour, rational emotive, career guidance, etc.) IILM University offers BA (Hons) as well as MA Psychology with specialization in counselling and organization behaviour.

Conclusion

Psychology as science finds applications in all walks of life. Psychology presents immense career options in the present times and will hold promising opportunities in the future as well.

“The best way to predict your future is to create it”

Abraham Lincoln