PGDM

The Future of Financial Analytics

Alumni, IILM Graduate School of Management, , ,

The industry has become so competitive; newfound ventures are posing a challenge to the old giants. Time duration has shortened to achieve targets of becoming a billion-dollar company. It took years for Tata, Birla and Mahindra to join the billion-dollar club whereas Flipkart became a $15.5 Billion company in just 13 years. Innovations in computer and IT fields have changed the way we see a business in the last few decades. The Internet is generating data in Gigabytes every day. Financial analysts explore the financial data and use financial ratios to generate meaningful reports for the company and the competitors. In a VUCA, world businesses want to make the strategy for tomorrow with more accuracy. Analytics answers these business queries. A combination of statistical models and computer software with financial analysis can add cherries in the financial reports. Note that, I am not denying or minimizing the relevance of financial ratios or financial analysis.

Top business schools now not just focus on teaching financial analysis and financial analytics because the later one facilitates predictive modelling. In short, it tells us, what is going to be the next?

Financial analytics is a forward approach. It focuses on identifying the business problem first and provides solutions. Financial analytics is a great tool in the field of risk management and investment. Being In the domain of financial analytics, your concerns are not just finance but all the business operations.

Let us see the few aspects of financial analytics-

#1 News Analytics- Stock prices and investor’s sentiments are highly correlated. News is a powerful tool that affects an investor’s sentiments. For instance, analysts commented on the press conferences of President Trump making an upward move in the US stock market. An analyst needs to create a model that can infer the effect of the news. A business school or MBA program students looking for a career in financial analytics must have an insight into the effect of the news on the stock price.

#2  Credit Risk Analytics- Default of receivables affects the liquidity of the organisation. This branch is very useful for banks and NBFCs. It analyses and predicts the future chances of default and the possible clients that may become defaulter in the future. Lending institutions can take preventive actions for such clients.

#3  Revenue and Pricing Analytics– Pricing covers everything whatever an organization does. A small change in the pricing of the product can create drastic changes in the revenue. While changing the price you need to check how you can increase value to the consumer. And the price must be acceptable to the consumer. MBA in Delhi NCR and PGDM colleges are offering dual specialization. Students with dual degrees in finance and marketing can get good opportunities if they are also interested in playing with numbers in statistics.

#4 Cash Management Analytics- This is a proactive approach to forecasting the liquidity and working capital requirement. It is also helpful in inspecting the blockage of smooth flows of payment. It further optimizes and rationalizes the cash management process efficiently. Some management graduates don’t like to go in the field of the stock market and prefer to be in the area of accounting so they can join this field.

#5 Trade and Supply Chain Finance Analytics- MBA, PGDM or BBA students looking to work not in a specific domain but for a business as a whole can be a part of this field. Trade analytics is all about finding new territories and customers for the products. In marketing language, it is about finding a niche market. However, supply chain finance is related to logistics and financing of the supply chain. Businesses want to minimize the cost that results in a minimum price. An analyst in supply chain looks for the possibilities to minimize the cost of transportation.

We have just scratched the crust of financial analytics. There are several possibilities available for students for job opportunities and businesses to minimize the cost and maximize the profitability. Students facing phobia of mathematics and its related branches must understand that mathematics and its interdisciplinary branches will rule the world in industry 4.0.

In the coming times some people will be either making mathematical or statistical models while others might be implementing these models and take major decisions based on them. Keeping this in view, students looking for Business schools or MBA in Delhi NCR must prepare themselves for Financial Analytics as a career option. All they need to do is work hard and exercise effort while pursuing an MBA / PGDM program to gain expertise in financial analytics.

There is a lot to explore in this area, for more information on Financial Analytics & related readings follow my blogs on IILM Blog site https://blog.iilm.edu or write to me at ashutosh.singh@iilmgsm.ac.in. We look forward to students creating a difference.

 

 

 

 

 

Simulation Games Enhance Learning Outcomes

Simulation Games Enhance Learning Outcomes

Center for Teaching Research and Learning, Faculty, , , , , , , , , , , , , , ,

The biggest challenge of our education system is to leverage the learning of concepts and theories with the use of modern technology to create engaging, relevant, and personalized learning experiences for all students that represent the reality of their future.

Most B-schools and universities follow a teaching style that is a blend of theory and practical. The traditional methods of teaching within the four walls of the classroom that include lectures and textbooks do set the basic foundation for a student. However, to attain the skills, which will be required at the workplace, these concepts have to be applied. The application of the learning will ensure that the student has been able to improve their critical thinking skills. The two years of PGDM should comprise of this blend of theory and practice giving the student a comprehensive curriculum.

Subjects like Entrepreneurship give the students ample opportunities to collaborate and work with peers. For subjects like this, the implementation of simulation is the best solution as it deals with the real-life application of the knowledge gained in the classroom.

What are the benefits of Simulation?

Simulations are games that follow a system or a phenomenon. The players are expected to achieve certain pre-specified goals and the environment of the simulation is pre-defined through algorithms and programming. The biggest benefit of simulations is that students get involved in playing the simulation and they consider it as a game or a competition in the real sense. In the process of playing the simulation, the students start applying the concepts that they have learnt in the classes. This provides them with an opportunity to find out how the concept actually works.

It is also the best way to implement Action Learning, i.e., learning by doing. These days, simulations are available online so they can be accessed from anywhere. Students can form teams and access the simulation from any part of the world. It also encourages more interactions among the students that set the platform for learning from each other. They can also afford to do mistakes and learn from it as the stakes are low and they have nothing to lose in terms of money or any other resource.

How to include Simulation in learning pedagogy?

Since simulations are beneficial for management students, it is imperative that it is included in the learning pedagogy. IILM has been implementing simulations in its UG as well as PG courses. Some of the key aspects that need to be considered for including Simulation in the learning pedagogy are:

  • Decide the learning objectives of the subject and check the relation between the concepts taught and the simulation game. There should be a perfect match between the learning objectives of the course and the skills that the simulation tests in the student.
  • The simulation game should be in a sequence. The sequence should move in terms of complexity. For example, a simulation may be played over 4 quarters and the decisions that the players have to take in the initial quarters should be simpler than the ones that they have to take in the later stages.
  • The class has to be guided by a coach who will channel the thoughts and ideas of the students. There has to be a little bit of hand holding in the initial stages of the simulation so that the students understand the process.
  • The coach can first give a brief synopsis of the situation in which this simulation is being conducted. If required, the initial stages can be demonstrated by the coach so that the students can follow his or her footsteps.
  • As the students play the simulation, the coach should encourage the students to think about their decisions and predict the consequences of their decisions. The coach will then have to connect this analysis with the learning objectives of the course.
  • The teams should be able to present their decisions and if required prepare a brief report of the simulation. The coach can then give their feedback so that the concepts become clear to the students.

In the present dynamic environment, the main focus of higher educational institutions is to enable student-centred teaching. This will be possible only when learning happens in an active and collaborative environment. The inclusion of Simulations in the teaching and learning of management concepts will not only make the students better learners but will also prepare them to face the challenges of the corporate world.

To know about other Management teaching best practices like case based learning, mentoring have a look at the following:

Business Case Studies – An Effective Teaching Tool

https://blog.iilm.edu/case-based-teaching-learning-management/

The Many Avatars of a Teacher – A Facilitator in Learning

What is the Mantra for right mentoring?

 

 

 

 

Business Case Studies – An Effective Teaching Tool

Center for Teaching Research and Learning, , , , , , , , , , ,

Tell me and I forget.

Teach me and I remember.

Involve me and I Learn.

These lines by Benjamin Franklin have rightly pointed out the gap in our education system. The traditional model of teaching i.e. lecturing would only help students to remember the concepts that have been discussed in class. The effectiveness of the learning process exists only when the students are fully engrossed in the subject. With the availability of electronic gadgets and the internet, the attention span of students has been reducing day by day. In such a scenario, an effective teaching tool that can be used for the business management students is Case-Based Teaching. The concept of case-based teaching is not only found in the management subjects but also found in courses like law, medicine, science, etc. The idea is to make the students understand a real-world problem that needs to be solved with the application of the concepts that the student has learned in the class.

Benefits of Case-based Teaching:

According to Professor Chris Ronald Christensen of Harvard Business School, the case-based teaching classes unfold without a detailed script. This is because the case is relatively unknown to the student, and the discussion that may take place in the class in the context of the case is unknown to the teacher. Many experienced faculty members say that the same case study brings out different learning for the students each time it is discussed with a batch of students. The classroom becomes an open platform for discussion that helps each student to come up with their idea and understanding of the case.

Efforts required in Case-based teaching:

Many faculty members have been using case-based teaching as a part of their teaching pedagogy. This is also practiced in many leading universities like Oxford, Stanford, and Cambridge, etc. The faculty in these institutes believe that the core concept of the case study as well as the course content has to be discussed simultaneously. This requires rigorous preparation on behalf of the faculty. The challenge lies in the ability of the faculty to make the students connect the theory with the practical case study and create ‘teachable moments’ in the process. These teachable moments arise from the classroom discussions and it is the responsibility of the faculty to guide the students through the discussion as well as give the discussion a desired direction. Thus, case-based teaching is a way of discovering the concept in a new manner. It requires the faculty to learn the art of balancing the discussion, planning the direction and also being versatile with strong and powerful storytelling skills.

Teaching cases online:

The current pandemic has created a new normal which includes online teaching. Teachers of all age groups, across the world, had to switch quickly to the online mode of teaching. This was not an easy task to do but then the change was quickly adapted to by faculty members so that the on-going semester could be completed successfully. In this context, the task of case-based teaching became more challenging. One of the major hurdles that the faculty faces while teaching through cases is that not all students read the whole case study and not all students read the case study before they attend the class. This became an even bigger issue to address when the classes shifted online.

To address this issue, the faculty of IILM had to be more proactive and plan the session in small segments. The cases that were taken up for discussion had to be smaller and crisper. Short case-lets are best suited for online case discussions. The questions had to be deep. Taking the advantage of technology, the students were made to discuss among themselves in small groups i.e. break-out groups where the faculty would visit just like it would be done in a physical classroom. The faculty also had to design more short exercises like polls and engage the students in a better manner. An effective way of doing this was by sharing reading material with the students before the class, beginning the class with a recent example, and sharing the faculty’s screen with students so that they can participate actively and share insights. This is followed by a quiz or a small test so that the students can assess their understanding. It can, therefore, be said that undoubtedly case-based teaching is one of the most effective ways of teaching but it will have to be modified with the change in times.

Importance of Case-based Teaching:

Case-based teaching and learning are important as pedagogy as it helps in developing the lifelong skills of critical thinking, collaboration i.e. working in groups, open inquiry, communicating ideas, and thoughts along with subject knowledge to arrive at a solution. Students also like this aspect and are engaged and interested in case discussions. It is a time-tested way of teaching that has been implemented successfully in various courses and institutions. It is an ideal win-win situation for both the faculty as well as the students. On one hand, the faculty can engage the students and also drive home the necessary concepts, the students can apply their knowledge and learn effectively. Thus, the time has come to implement the case-based teaching and learning pedagogy, with a little bit of revamping.

Do comment / write to me on how do you think Case-Based teaching will evolve in the blended learning format.

IILM, India & More…

Alumni, Campus Life, Global Study, IILM Stories, ,

My experience at IILM so far has been incredible. The students are very eager to learn, actively participate in class discussions and want to know how business is done in other countries. The faculty at IILM are very well informed about global issues, they are extremely friendly and go out of their way to make sure you have everything you need. The infrastructure here at IILM is very modern and up to date with all the latest technology. I really enjoy all the space and greenery at the Greater Noida campus where I am staying. The students there are very active in campus life as the other night as I was walking to the cafeteria there was a large fire and students dancing and giving out bags of peanuts and popcorn in celebration of the holiday of Lohri.

The module I am teaching is called Doing Business in Diverse Markets and is very relevant to today’s business world. I could teach this course to business students anywhere in the world. It is a case based course that looks at the successes and mistakes companies have made in expanding into various different countries. It looks at all aspects of the companies expansion, how the financial reporting, human resource departments, marketing and IT systems are all different internationally.

I have seen some amazing sights in my stay here in India but the highlight has to be the Taj Mahal, it is one of the most beautiful buildings I have ever seen.

IILM PRME Third International Conference

Conferences, Events, IILM Stories, ,

IILM in collaboration with United Nations Global Compact PRME (Principles for Responsible Management Education) organized its Third International Conference on 7th , 8th and 9th January 2016. IILM is the only Academic Institution body in Asia to be part of PRME Champions (2013-2015). Here is the Social Media coverage of PRME Conference held at Lodhi Road Campus, New Delhi.

Day 1 – First day of the conference started of with enthusiastic participation from the students who raised pertinent questions on contemporary issues.  The first session of the Conference was titled as “Inclusive Equitable Education and Lifelong Learning and Achieve gender equality and empower all women and girls” and was inspired from the SDG 4.

EU Ambassador to India, His Excellency Mr Tomasz Kozlowski inaugurated the Conference. During the inaugural session, various dignitaries, such as – Ms.Florencia Librizzi – UN Global Compact, New York, Dr. Bhaskar Chatterjee –  Director General & CEO, Indian Institute of Corporate Affairs shared their experiences and initiatives of taking responsible management education forward and creating awareness about the Sustainable Development Goals.

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EU Ambassador to India, His Excellency Mr Tomasz Kozlowski.

Day 1 PRME Coverage on Facebook

Day 2 –  The Conference progressed into its second day on January 8, 2016 with the second session of the conference. The day was full of extreme knowledge sharing and received huge appreciation from the management students.

Sessions of the 2nd day of Conference highlighted areas such as –
– Skills Development for Employment & Sustainable Economic Growth.
– Ensure access to affordable, reliable, sustainable and modern energy.
– Ensure availability and sustainable management of water and sanitation.
– Make cities inclusive, safe, resilient and sustainable (Smart Cities).

The eminent speakers of the sessions included – Mr. Alessio Devito and Mr. Stephane Formenti, University of Geneva, Switzerland, Mr Mariusz Soltanifar, Hanze University of Applied Sciences, Groningen, The Netherlands, Ashutosh Sinha – News Editor and News Anchor at NDTV Profit, Mr Sameer Pathak, Coca Cola India Inc., Ms Florencia Librizzi, UN Global Compact, New York, Dr Michael Schmitt, Professor of Financial Management, International School of Management, Frankfurt.

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Day 2 PRME Coverage on Facebook

Day 3 – The day started with the last 6th Session of the Conference which was titled as “Promote inclusive societies and provide access to justice for all, and build effective, accountable institutions at all levels” and was inspired from SDG 16.

The session saw active participation from various eminent speakers – Dr Vasanthi Srinivasan, Indian Institute of Management, Bangalore, Mr Sandeep Tyagi, Director HR, Samsung Electronics, Ms. Florencia Librizzi, Senior Manager, Legal & Policy, UN Global Compact, New York and Professor Jagdeep Chhokar, Indian Institute for Management, Ahmedabad.

The Closing Plenary was rendered by Dr S.Y. Quaraishi, former Chief Election Commissioner, India, Ms Florencia Librizzi, UN Global Compact, New York.

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Day 3 PRME Coverage on Facebook

The last three days of the conference were full of knowledge sharing, discussions and reflections on various important issues. It was indeed a very motivating end to this one and left the audience looking forward to the next conference.

Placement Week at IILM

IILM Graduate School of Management, IILM Institute for Higher Education, IILM University, ,

Whenever the human capital of an organization thrives, the organization will prosper, and vice versa. With this belief, a student’s personal potential and workplace potential is intervened, placement week was organized for PGDM 1st year students from Feb 9 -13, 2015 to optimize opportunities and circumstances for summer intern-ship and understanding job market well.

Placement week was a great endeavour to bridge in the gap between demand of companies and students’ expectations.

Industry people from Vodafone, Wingreens, Singer India, Mccain Foods, Silver Arrow, Nova beans (3D Printing), UAS international , IIFL, Deloitte, Garmin Navigational Tools were invited to interact with students. Campus to corporate, how to prepare for an interview, importance of preparing LinkedIn profile in a professional manner in corporate world, understanding corporate culture for professional effectiveness, importance of team building among budding managers,how to develop soft skills, orientation about current job market and various job profiles offered by organizations were the topics appreciated by the students. Some of the companies offered summer intern-ship during the placement week. Face to face interaction with industry people added value and knowledge on understanding job market among students.

Last but not the least, TED videos on motivation, improving body language and enhancing interview skills were also appreciated by the students.