The Edge by IILM Institute for Higher Education

Enabling Entrepreneurship, Promoting Sustainable Growth How management education is fuelling a new movement

Editorial Board Mrs. Malvika Rai Mr. Rahul Mishra Mr. George Skaria Ms. Shruti Jolly Ms. Shipra Jain (Editorial Assistance)

The current edition of Edge is dedicated to the founder of IILM, Dr. Kulwant Rai, an epitome of entrepreneurship and leadership. Entrepreneurship has been a buzzword for the youth in India over the last couple of years even as the surge in entrepreneurship has been a global phenomenon. Some of the key reasons for the rise in the number of Entrepreneurs are as follows: The global financial crisis led to job uncertainty and the talented professionals were out of jobs viewed it as an opportunity to use their knowledge and skills to start their own business ventures. Probably the start-up decision or the business idea that was collecting dust all along in their minds, suddenly came to the fore and it proved to be the right opportunity and time to nurture that business idea. Another reason contributing to the surge in entrepreneurs is the encouragement and guidance received by students from their management colleges. A lot of new courses have been designed to ignite the entrepreneurial spirit in students. Faculty members guide students to flesh out their business ideas and create detailed business plans. The students also increasingly have access to various forums and platforms where they can present or pitch these business plans to venture capitalists and investors. The Government of India has formulated a National Entrepreneurship Policy with the aim to boost the number of entrepreneurs. The Policy encompasses multiple stages in the emergence of an enterprise from pre-start to stabilization and growth. It is aimed to focus on motivation, opportunity and skills with the primary objective of encouraging people to venture out. The policy aims to introduce entrepreneurship in the education system at all levels to orient and prepare students for an entrepreneurship career by imparting skills, knowledge and aptitude for entrepreneurship.

Published by IILM Institute for Higher Education 3, Lodhi Institutional Area, Lodhi Road New Delhi-110003 Phone: 011-40934365 Email: edge@iilm.edu

India also has the demographic advantage with about 63 per cent currently in age group of 15 -59 years. Studies indicate that nascent entrepreneurship prevalence rates are highest in the 25-34 age group. India needs to create 1- 1.5 crore (10-15 million) jobs per year for the next decade to provide gainful employment to its young population. Accelerating entrepreneurship is crucial for such large-scale employment generation. Moreover, innovative entrepreneurial help generate solutions to Indiaâ&#x20AC;&#x2122;s myriad social problems including highquality education, affordable health care, clean energy and financial inclusion. An entrepreneurship-led economic growth is thus more inclusive and creates sustainable growth. Ms. Shruti Jolly Assistant Professor, Marketing IILM

Edge

The

Founder’s Day: The Legacy Lives on

Contents IN-HOUSE MAGAZINE FOR LIMITEd CIRCULATION

14th Undergraduate Business School Convocation: Canvas of partnership with University of Bradford

Iilm School of Design Convocation

IILM Advanced Management Programme: IIM Bangalore’s Former Director Leads Module on International Finance

43 18

Entrepreneurship is the Future of India

Viral Marketing

The Road to Inclusive Future

Indian Leadership: Respect Thy Elder

Entrepreneurs who have Redefined our World

“India 2050: Developed or Emerging?”

34 36 38 41 59

Higher FDI In Retail: To Be Or Not To Be?

Cross Connection: Vodafone Tax Case with the Indian Government Social Media and It’s Influence Book Review Campus News Alumni...... A Lifelong Relationship!

Founderâ&#x20AC;&#x2122;s day: the legacy lives on remembering dr. Kulwant rai: tribute by Prof. V. N. Pandit

in my view the greatest achievement of dr. rai was the immense love he was bestowed on by Bhagwan Baba, having been chosen as an instrument for His divine mission.

consider it a great privilege to have been asked to deliver the Dr. Kulwant Rai Memorial Lecture for this year. I pray to Bhagwan Baba to bless me with the wisdom to say what is befitting for this occasion, meaningful and properly articulated.

a tribute I have had the pleasure of knowing Dr. Kulwant Rai for many years. I am impressed with the fact that Dr. Rai built his own world of prosperity, well saturated with virtue from his inner resources without depending on the wealth he would have inherited from his ancestors. I understand that after graduating from

Prof. V. N. Pandit, lighting the lamp with Smt. Bimla Rai at IILM Founderâ&#x20AC;&#x2122;s Day

a reputed college in Lahore, this young man moved to Delhi with a small sum of money and was able to build a great business empire which was topped all along with great philanthropic activities. Motivated by the desire to serve the country, he set up enterprises for industrial production, greater employment and higher economic growth. Dr. Rai served the society effectively and he was member of several important institutions. But, above all Dr. Rai had a deep commitment to his philanthropic pursuits. As an enlightened patriot he promoted values-based education and a variety of cultural activities. No wonder, Dr. Rai was decorated by the President of India with a national award in 1992 and with an honorary doctorate by the University of Bradford, UK in 2000. In my view the greatest achievement of Dr. Rai was the immense love he was bestowed on by Bhagwan Baba, having been chosen as an instrument for His divine mission. In 1995, he was blessed to build the Sai Kulwant Hall at Prasanthi Nilayam an internationally revered centre of pilgrimage today. In 1999, Bhagwan blessed the nation by agreeing to inaugurate the Sri Sathya Sai International Centre which Shri Kulwant Rai was allowed to build in Delhi, the capital city of India. Needless to say that such a Centre was greatly needed to

inculcate human values amongst businessman, bureaucrats, politicians and above all, the young men and women of this country. At the personal level I had the privilege to interact with Dr. Kulwant Rai Ji for many years during which he was blessed by Bhagwan Baba to serve as the President of the Sri Sathya Sai Seva Organization for Delhi state. I was involved with the organisation as the joint coordinator for study circle, activity in-charge for North Zone and eventually as programme coordinator for the Sri Sathya Sai International Centre. He was always lovingly pleasant, open to suggestions, constructive in his advice and full of humility. Indeed, every meeting turned out to be enjoyable and creative.

introduction I strongly feel it appropriate that this lecture should deal with the important problems that humanity is facing today in varying degrees all across the world. The need to think deeply about what has gone wrong and what the way out should be is, indeed, urgent and cannot be ignored. Undoubtedly, the problems are multidimensional and complex, involving all of us, one way or the other. In particular, these involve our material well-being, economic and financial institutions, family and social life and political and corporate systems. These are even more deeply touching the very process of acquiring knowledge of all kinds. The concern for environmental issues can hardly be exaggerated. However, all of them are inter-connected and in my view deeply rooted in the

Release of IILM Management Review by Prof. V.N. Pandit and Mrs. Malvika Rai

decline of morality at different levels. These involve individuals at the roots, communities and institutions in the middle and nations and states at the top. For its survival with happiness and prosperity, humanity, individually and collectively, needs to address these problems with considthe need to think erable seriousness. Where we stand todeeply about what has day depend inevigone wrong and what the tably on the way that has been way out should be is, indeed, adopted so far, knowingly or urgent and cannot be ignored. u n k n o w i n g l y. This cannot be Undoubtedly, the problems are reversed; but almulti-dimensional and complex, ternatives need to be explored involving all of us, one way or so as to retain the good that has the other. been achieved in terms of economic, financial, political and institutional de-

velopments. Let us have a close look at these as follows. At the political and ideological level, the last four decades or so have witnessed major changes all over the world in many ways. The late eighties marked the fall of the Soviet Union as a major world power, as many of the small states constituting the union broke away from Russia. Once a rich country marked with

abundance came up to the edge of deprivation beyond anybodyâ&#x20AC;&#x2122;s guess. Ideologically, the era of Communism came to an abrupt end not only in the Soviet Union but also in many other nations of Eastern Europe. This meant a total change in politics, economy and in the overall social setting. This has meant greater freedom to citizens of these countries but not without costs in terms of hardships and uncertainties.

Prof. V. N. Pandit delivering the Dr. Kulwant Rai Memorial Lecture

Why did history take this dramatic turn? Presumably the answer may lie in the considerable misuse of power by those who were trusted to wield it, excessive efforts to build up military power and increasing degree of corruption. At the root of it all lay a conflict between the state and the society.

the Economic Crisis On the economic front, the last three decades have meant massive economic and financial globalisation with considerable social and cultural implications. While all these bring nations closer to each other, these also exposes them to greater risk and uncertainty. The global economic and financial crisis that struck all countries is not yet history though the worst of it, we hope, has gone by. This reminds me of another major development which has more or less gone hand in hand with globalisation, namely, the supremacy of the world of finance. Finance has always been important in economic affairs. But over the last four decades, it has come to occupy the centre stage in many ways. This brings many advantages for growth and development but also opens up the economic and social system to greater risks and consequent instability. With all its prosperity, the world is increasingly getting exposed to wild economic fluctuations. We have not yet fully recovered from the global economic and financial crisis of 2008. It started in the United States where a large number of poor households sought loans from commercial

alert enough to prevent the dibanks in order to purchase their saster. It was in September 2008 own houses. The major commerthat the financial bubble burst cial banks were eager to lend and all the powerful Western even though the borrowers did economies particularly that of the not satisfy strict financial criteria United States crashed. The damrequired for this. That is why it age has been enormous and the has generally been referred to as world has not yet recovered from â&#x20AC;&#x153;subprime lendingâ&#x20AC;?. Banks were it. Let me recall a few significant keen to lend because the investdevelopments in this context. In ment opportunities were on the low ebb. Having granted the loans, the banks devised strategies to manage risk to which they got exposed. These included init must be widely terest rate risk, default risk and liquidity risk. While the first agreed that compared was not serious the other to other affairs we need to two were. Banks were able to act carelessly because go many steps further to the erstwhile Glass Steaensure that ethical norms are gall Act had been abolished in 1999. They also strictly adhered to with took additional liberties to ignore the normal preregard to financial dealings. cautions because they felt these may often go well they were too big to fail. Rising housing prices probeyond the normal regulations vided them the confidence to go ahead. The strategy and legal requirements they followed was to repack but have to be their liabilities into new packages of assets and sell them all observed. round the world. These took the form of what are called Mortgage Based Securities (MBSs) and Collateralized Debt Obligathe United States GDP decreased tions (CDOs). Unfortunately, the almost by 6 per cent in the last bubble burst as housing prices quarter of 2008. In January 2009, suddenly crashed leading to a the level of industrial production severe financial crisis and the was more than 10 per cent lower consequent bankruptcies. Since than that in the preceding year. many of the new assets had got More than 3 million houses were sold across the world, the damforeclosed in 2008 which meant ages were global. that at least 10 million persons had to move to makeshift houses. Though the crisis was brewing In December 2008, exports of Jafor more than a year, neither pan fell by more than one third. those in control of the financial For Germany, GDP was down by sector nor the government were 8 percent in the last quarter of

2008. The disaster continues. Growth in advanced economies has slumped to 1.2 per cent in 2012; for the US it has come down to 1.8 percent; for Europe it is - 0.5 percent. Even for new giants like India and China which got miraculously protected, there are persisting problems. In both countries growth rates have slumped to less than 7 percent from more than 10 percent. Substantive damages were also suffered by many countries in East Asia. In all leading economies major financial institutions including commercial banks, pension funds, insurance agencies etc. got bankrupt. This has caused enormous misery across the world. How and why did all this happen? Talking about the World Financial Crisis reminds me of a wonderful conference we had at the SSSIHL in August 2009 with the blessings of Bhagwan. Participants in the conference included top magnates of more than 30 leading financial institution, the Governor and Former Governor of the Reserve Bank of India, Deputy Chairperson of the Securities Exchange Board of India and Head of the Insurance Regulation and Development Agency. Different aspects of the theme of the conference namely, Ethics and the World of Finance were debated in four panel discussions and one plenary session in great detail. But the climax came when Bhagwan Baba delivered His valedictory discourse starting with an important episode in Mahabharata. Bhagwan dealt with the way Yudhistara was enticed to

would exercise

Bhagwan Baba has frequently with ones own resources. But told us that happy and healthy what we hear individuals make the family happy; these days with regard to finanhappy families make the cial institutions community happy and happy is that “Profits are Private and communities enable the country Losses are Public”, and eventually totally in violation of the principle of trust. the world to be happy, I am happy to mention peaceful and prosperous. that the distinguished

gamble with Kauravas without consulting either of his brothers or their wife Draupadi. The results as we know were ruinous. This is exactly what the financial system can lead us to unless we proceed with necessary caution and self-restraint rather than be guided by pure greed. It must be widely agreed that compared to other affairs we need to go many steps further to ensure that ethical norms are strictly adhered to with regard to financial dealings. These may often go well beyond the normal regulations and legal requirements but have to be observed. For, one has to remember that ordinary citizens, or households, corporate magnates or public authorities hand over their resources to financial institutions in trust. It is TRUST which is crucial. The actual lesson that turns out to be crucial is that this money has to be used with extensive caution, much more than one

participants of the conference at Prasanthi Nilayam felt that they had learned a great deal and felt wiser in dealing with their assignments. This is important because, as stated earlier, the financial system has come to occupy the center stage and influences everyone in some way or the other in today’s world..

Society and Happiness I shall be failing in my duty if no mention is made of the important but unhealthy developments in the social systems all over the world. Countries are competing with each other in spending enormous amounts of money to build military strength. I should refer to my teacher Professor Lawrence Klein, recipient of the Nobel Prize for economics in 1980. He went all around the world talking to policy makers about what is called the “Peace Dividend”. He persuaded countries to reduce military expenditure and use the savings to build facilities for health and education. While he had considerable success in the first part of the mission it was not enough in the second part. Access to free health and education remains a prob-

lem for the poorer citizens across the world including those in the most prosperous countries. Closer home, we have seen major changes in social institutions which can be of disastrous consequences. The one upper most in my mind today is the decline of family with all its facets, posing a serious threat to the social system. From the joint family system, we progressed, so to say, to nuclear families. But where we are heading now is anyone’s guess. Why is this happening? Bhagwan Baba has frequently told us that happy and healthy individuals make the family happy; happy families make the community happy and happy communities enable the country the healthy and eventually the world happy, peaceful and prosperous. It is the duty of every individual to promote health, happiness and peace at all levels; in our families, in our societies, in our country, and thereby in the entire world. Unfortunately today’s world is witnessing the breakdown of the foundational system of families. Even marriage is no longer a pious bond. No wonder that communities fight with each other at enormous cost to everyone of us. One is again reminded of Swami’s spiritual formula which requires us to stick to three things, namely, Love of God; Fear of Sin; and Morality in the Society (Daiva Preethi, Papa Bheethi, Sangha Neethi) This golden formula gives us both the strength as well as the purity

to serve the society as needed under different situations. Each one of us, without exception, is one way or the other motivated, in all our endeavours by one thing, that is the search for HAPPINESS. Invariably we seek it in the material prosperity. What has been the result? Despite small and large ups and downs from time to time, the world today is endowed with enormous material prosperity which we all seek. God has been kind and bountiful in granting us all that we need. Are we happier? This takes me to another teacher of mine, Professor Richard Easterlien at the University of Pennsylvania. Way back in the mid-seventies he posed the question as to whether humanity endowed with growing prosperity was also getting happier. Yes, he found out that if a rich man or woman was asked whether he/she was happier than his/ her poor neighbour, the answer was in the affirmative. But if one was asked somewhat differently, whether he or she was happier today compared to a few years back, as he/she had more wealth, better house and all that mattered in measuring prosperity, the answer was a clear “No”. A well-planned series of studies being conducted at the international level across the world today on a regular basis confirms what Easterlin found. Humanity is not getting happier as it grows more prosperous. Clearly, we are all tapping the wrong source. Happiness grows with wealth so long as our basic needs grow with circumstances and are met

Prof. Sapna Popli at IILM Founder’s Day

accordingly. But, once greed takes over, wealth is of no use. There is no relationship between the level of happiness and the level of material prosperity. It was almost exactly when Professor. Easterlin was exploring the link between income and happiness in the mid-seventies that Bhagwan Baba had enunciated for all of us the principle of: “Ceiling on Desires”. Bhagwan talked of ceiling which may vary under different circumstances. It is important to note that He talked about desires and not needs. Basic needs have to be met but desires are counterproductive. For, one desire gives rise to another as soon as it is satisfied. The result is an endless process, leading eventually only to cumulatively more unhappiness. It is here once again that ceiling on our personal desires will enable us to promote the welfare of others in the society.

Let the desire to serve others persist and grow. We may also note that though economic growth in the recent years has been impressive all over the world, the distribution of income and wealth has sharply tilted away from the poor. Nobel Laureate Paul Krugman tells us that: “Despite a marked increase in the real income of the middle income group there has been massive tilt in favour of the richer citizens during the seventies and eighties……..” Another reputed Nobel Laureate, Joseph Stiglitz calls it: “Of 1% By 1% and For 1%”. The richest 1 per cent of households in US own 25 per cent of income and 40 per cent of total wealth; exorbitant by all stan-

dards. For India the distribution has not tilted so much but poverty remains the biggest crime for the country. It is here again that Bhagwan Baba’s dictum on ceiling on desires is highly relevant.

the Way Forward: true Education Finally, we need to think about solutions rather than endlessly harp on the problems themselves endlessly. What are the basic issues arising from the preceding discussion relating to economy and finance, politics and governance, family and the social system? The symptoms are clear. We are getting increasingly restless, unhappy and consequently, more violent with the passage of time. The answer lies clearly in the fact that we have been steadily getting away from our ethical and moral foundations. This is because individuals, institutions, communities and countries are motivated by pure self interest howsoever these are perceived. This has now resulted in the fact that the dictum: “Greed is Good” has become not merely acceptable but even respectable. This is increasingly but mistakenly being identified as the basis of all economic reasoning. This reminds me of the mid twentieth century reputed economist from Cambridge, Sir Dennis Robertson. At the University of Columbia, New York he was asked, “What do Economists

Economize?” Abrupt was his reply, “They Economize on LOVE”. That unfortunately is the way our mind has turned. This was, indeed, not intended. We need to go back and look at all spheres of life and devise alternatives for a new beginning. In this context I think of a reputed economist/ social scientist, John Stuart Mill who said emphatically,

his Guru, Bhagwan Sri Sathya Sai Baba. Human Values: Sathya (TRUTH), Dharma (RIGHTEOUSNESS), Shanthi (PEACE), and Ahimsa (NONVIOLENCE), all of them fully saturated with Prema (LOVE) must permeate through the entire process of education at all levels. It must begin with parents at home, be followed up at school with teachers, and go on at higher education in colleges and universities. In this context, it is worth going back a couple of centuries.

the symptoms are clear. We are getting increasingly restless, unhappy and consequently, more violent with the passage of time. the answer lies clearly in the fact that we have been steadily getting away from our ethical and moral foundations.

In all spheres of activity all over the world, including Bharat we find that the front-runners that matter are young, highly competent and innovative. They are capable of changing the world in any direction they like. From personal experience I know that in all countries there are highly educated and well trained persons at commanding heights in the government, in leading universities and other institutions. With that, the world should have a glorious future and be able to resolve all big and small problems. Be it material prosperity, be it social stability, be it environmental protection, or good governance. For this to happen love must motivate our behaviour. Baba says:

Selfishness is the principal cause which makes life unsatisfactory. There is no reason why man should be selfish and egotist devoid of a feeling for others. Education must rectify this. Material prosperity is only one part of a balanced life. To understand this, no beginning is better than EDUCATION as Shri Kulwant Rai had learnt well from

“Duty without Love is deplorable, Duty with Love is admirable, but Love without Duty is Divine” Clearly, love must be the driving force; nothing less. But, the problem lies in the type of education that is being imparted. Students acquire a lot

of information. Thanks to the great progress that has been made in the related technology. This information is converted into knowledge. Thanks also to the great progress in scientific areas which enable us to convert information into knowledge. Unfortunately, the process stops there. Knowledge is not getting converted to wisdom – the ultimate objective of education. We have to be careful at each stage. At the very outset, information needs to be scrutinised. It is common these days to see people of all ages and affiliations endlessly browsing through internet; many times fruitlessly. Let me recall some wisdom associated with Aristotle. Someone came up to him with some information. Before letting him speak Aristotle asked, “Is it true?” The answer was, “I do not know. It came from someone.” Next, question was, “Is it good?” The reply was again unclear leaving it to the master to decide. The last query was, “Is the information of any interest to me?” The reply was again unclear. Aristotle was clear in refusing to have the information, whatever it be. We need to be vigilant about correctness, relevance and goodness of our search. That is essential for good education. The four letters abbreviating the name of this Institute, IILM should be understood as Institution for Integrating Love and Morality. That is what Kulwant Rai Ji had intended when he founded it. I shall be failing in my duty if I do not state clearly that the extent to which this happens depends considerably on the ef-

forts that teachers make. I cannot, once again do better than recall what Bhagwan Baba has to say about them. In June 1989 Baba said, The main role of the teacher is to shape the students just as a sculptor shapes the idol or, as the gardener develops a garden. Sculptor has be exact in his/her chopping process; never too much and never too little. In April 1995 Baba added, much to our gratification, Teaching is the most important profession because teachers are responsible for developing future leaders. . . Teachers are like water tanks. If the tank is pure, water flowing from it is pure. To conclude, I would like to narrate my favourite story. A spiritually-oriented young man owned considerable wealth but was not happy and peaceful. In search of

these, he went to seek guidance from a Guru. When he had narrated his story in search of guidance, the Guru told him, “Your understanding of arithmetic is not complete. You only know Addition. You must now learn Multiplication.” The young man went back and used his wealth for a lot of productive projects, creating new things and jobs and, in the process multiplying his wealth manifold. But, happiness still alluded him and he had to return to his Guru. This time he was advised to learn Division. He went back and shared his growing wealth with others and using it for many philanthropic projects. Happiness still remained missing. The young man had to go back for more instructions. This time, he was advised to learn Subtraction. Final annihilation of ego endowed the young man with not mere happiness but BLISS. I am sure the young man was Shri Kulwant Rai Ji. 

Smt. Bimla Rai greeting Prof. V.N. Pandit

14th Undergraduate Business School Convocation: Canvas of partnership with University of Bradford

aw and Sue Kersh s. M i, a ness R duate Busi . Malvika ixon, Mrs 4th IILM Undergra D h ra a S Dr. e1 apsis at th Dr. Ilias K uation Ceremony d School Gra

ILM Institute for Higher Education practices pursuing knowledge beyond traditional boundaries. This is one of our foundational ethos that has driven our growth over the years. The ‘Student’ is at the centre of the expanse of our activities, pursuits and endeavours. It keeps at the forefront the interests of its students, and accordingly structures the study programmes, modules and consequent teaching and learning processes. Its overall philosophy, vision and mission

are entrenched in its overriding value of developing the student. 19th November, 2012 at 1600 hrs, started the grand event of the 14th Graduation Ceremony of our undergraduate students of batch 2009-2012, who successfully completed the B.Sc. programme of the School of Management, University of Bradford. The ceremony was held at the IILM Lodhi Road Campus. The auditorium scintillated with students who wore their black and yellow convocation gowns with black head gears to go with it. It was a moment when hundreds of memories ran through their minds, juxtaposed with the zeal of stepping on the stage for receiving their degrees. Suddenly, the chitchat among the students came to a halt as the team of the Deputy Vice Chancellor of Bradford University and the professors of IILM entered the auditorium. It was a splendid sight to watch the ‘Academic Procession’ march up to the stage; their pace calibrated to the rhythm of the convocation track Clarke attrib: Purcell: Trumpet in D. It was an imposing sight that inspired awe and respect in the audience. The members of the procession were: Dr. Sanyuka Jolly, Dean, IILM Undergraduate Business School, Ms. Priyanka Anand, Dr. Surabhi Goyal, Mr. Girish Ahuja, Dr. Sangeeta Chopra, Ms.Shivani

Khurana, Ms. Vandana Mehrotra, Ms. Vandana Srivastava, Dr. Shuchi Agrawal, Ms Anju Gulla, Prof. Sujit Sengupta, Mr. Abhijit Mukhopadhyay, Ms. Ranjani Matta, Ms. Sapna Popli, Director IILM, Ms. Georgina Bache, University of Bradford, Dr. Ilias Kapsis, School of Management, University of Bradford, Dr. Sarah Dixon, Dean, School of Management, University of Bradford, Mr. Nick Buck (with the University Mace) and Ms. Sue Kershaw, the Deputy Vice-Chancellor, University of Bradford. The ceremony had a methodical character to it, bringing to fore principles of precision, meticulousness and discipline. As the procession members seated themselves on the dais, the event commenced with the ‘lighting of lamp’ ceremony and ‘Saraswati Vandana’, a prayer that was sung by the students of Banyan Tree School, seeking blessings of God. The Honourable Deputy Vice Chancellor nodded her head, to signal the ceremony declared open. The Dean of the School of Management from Bradford, Ms. Sarah Dixon delivered the inaugural address to the graduating students, their parents and others present as audience. She expressed that it was a moment of immense pride and honour. She commended the successful partnership achieved between the School of Management, University of Bradford, and the IILM Institute for Higher Education, India. She expressed her pleasure with the distinctive approach IILM has taken to management education, in particular referring to the Insti-

tute’s values of inculcating critical thinking skills among its students. She remarked that the Institute’s overall approach was innovative, adapted to student needs that reflected a character of excellence and stability.

ean, nce cutive D and Exe essing the audie r to c e ir r d d a The D li p pna Po Prof. Sa

Dr. Sanyukta Jolly, Dean, IILM Undergraduate Business School , outlined the formal code of conduct of the ceremony. She announced the names of students who were declared successful and considered eligible for receiving final degrees. The students went up to the stage to collect their degrees conferred upon them by Dr. Sarah Dixon. Respected Chairperson Mrs. Malvika Rai, IILM Institute for Higher Education, personally congratulated each student on their achievement. This was a highpoint for the students, a moment they savoured, sparkling with hope, a feeling of passion and vitality and hoping for an equally prom-

The ceremony had a methodical character to it, bringing to fore principles of precision, meticulousness and discipline. As the procession members seated themselves on the dais, the event commenced with the ‘Lighting of lamp’ ceremony and ‘Saraswati Vandana’ - a prayer sung by the students of Banyan Tree.

ising future. This was their moment of truth during their career at IILM -- a moment culminating in the successful completion of the B.Sc. programme. The top

Prof. Sapna Popli, Director, IILM Institute for Higher Education, addressed the students congratulating them on their success, and extending the same sentiment to students’ parents for sharing this proud and prized moment with them. three rankholders were felicitated with a Certificate of honour and a medal. The Gold Medal for securing the first rank was awarded to Ms. Shailly Gupta, the Silver Medal for second rank awarded to Mr. Aman Arora, and the Bronze medal went to Mr. Keshav Bansal for securing the third rank. A separate category of award for the Best Project was awarded to Mr. Aman Arora for his project work titled ‘Strategic Report on Infosys’. Also awarded were Certificates of Honour for securing highest marks in each of the 24 modules taught in stage three of the B.Sc. programme in recognition of students’ academic excellence and proficiency.

Ms. Arushi Zutshi being awarded Certificate of Honour for having secured the highest marks in Ethics in Business and Society

Prof. Sapna Popli, Director, IILM Institute for Higher Education, addressed the students congratulating them on their success and extended the same sentiment to students’ parents for sharing this proud and prized moment with them. Prof. Popli started with the words that ‘It’s a day of completion and commencement’. These words captured the essence of the moment felt by all present there. She encouraged the students to spread out their wings, step out in the outer world, keeping in view the values and ethics learnt at IILM. She expressed the sentiment that they were at an important juncture of their life as they were on the threshold of reaching out for the next important milestone of their career. She highlighted a Steve Jobs quote impressing upon the students, the sanctity of the moment. The quote read: “ Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.” Her words left an imprint on the students’ minds as these

Mr. Dhruv Gupta being awarded Certificate of Honour for having secured the highest marks in Corporate Marketing

were met with warm applause and approval. Ms. Sue Kershaw, The Honorable Deputy Vice Chancellor, Bradford University delivered her Graduation Address, wherein she congratulated the students, advising them to take concrete steps towards the future. Importantly, she brought to the students her observation in these words, â&#x20AC;&#x153;You not only leave with certificates, but with the lesser tangible and yet more useful advantage of experienceâ&#x20AC;?. On this theme she built her ideas emphasizing the importance of fruitful study experience at college and the need for commitment, perseverance and discipline on the part of students. Thereby the ceremony was declared closed. The students and respected members on the dais put on their head gears and the academic procession marched back, streaming out of the auditorium towards the front lawn for the group photograph. The group photograph of the batch, with the dignitaries taking the front row, is both

a ritual and a moment to rejoice. The moment is breathtaking as it is a living example of exuberance pouring out of young hearts. These are the precious few moments that students wait for, when they The students felt ecstatic and these moments can toss their headwere captured in photographs by their parents gears up in the air to express their and friends. Such is the fervor of the moment jubilation with an that one tends to forget the toil and hard work explosion of enthat goes into making it happen. ergy that knows no bounds. The students felt ecstatic and these moments were captured in photographs by their parents and friends. Such is the fervour of the moment that one tends to forget the toil and hard work that goes into making it happen. The 14th Graduation ceremony of B.Sc. students of IILM was successfully conducted, leaving all in a spirit of joy and success. ď Ž Dr. Sangeeta Chopra Associate Professor, IILM Ms. Swati Anand Student, Post Graduate 2011-13 (with inputs from Sakshi Jain and Vidhi Goel, UBS Stage 1)

Mr. Mayank Mohan Sharma being awarded Certificate of Honor for having secured the highest marks in Retail Marketing

Mr. Shantanu Jain being awarded Certificate of Honor for having secured the highest marks in International Finance

Iilm School of Design Convocation ings and origami brightened up the event, while lights and the beautiful evening breeze made it the perfect setting for the Convocation. The students wore black and orange robes while those awarded were in off white or white Indian formals. The stoles that were

he batch of 2008-2012 of the IILM School of Design was awarded their Diploma in a solemn Convocation held in the Gurgaon Campus auditorium. The Four Year Graduate Diploma is awarded in Communication Design, Interiors & Furniture Design or Product Design. The Chief Guest for the event was Mr. Sameer Hazari, a new age artist who has studios in London and Delhi. He works psychedelic art and a brilliant play of colours marks his individual style. Students received their Diplomas, in a ceremony which was followed by high tea. Ms Usha Iyer, Dean, IILM School of Design, addressed the audience. Dr Sujata Shahi inaugurated the event. The students of the design school put up installations to decorate the campus and display their talent. Street art, collages, paint-

given to them were in the logo colours of the Design School, which are rust and orange. A day to remember for all the awardees! The current students were very happy with the wonderful feedback on their work from the chief guest and other invitees of the event. ď Ž

Prof. Prakash Apte along with the participants at the IILM Advanced Management Programme

IILM Advanced Management Programme:

IIM Bangalore’s Former Director Leads Module on International Finance

he IILM AMP Module on International Finance was conducted by Prof. Apte on 21st and 22nd December 2012 at the IILM Lodhi Road campus. Participants included finance professionals from the industry and faculty members from finance and economics areas of IILM. In his welcome address, Prof. Rakesh Chaudhry said that Dr. P. G. Apte, former Director of IIM Bangalore is one of the most respected academicians of India. He is a professor of Finance and Economics at IIM Bangalore and an authority in International Finance, Financial Derivatives, Econometrics, and Economics. Dr. Apte holds a Ph.D in Econom-

ics from Columbia University; a PGDM from IIM Calcutta; and a B.Tech. (Mech Engg) from IIT, Mumbai. He has been a member of the SEBI Committee to Review Functioning of Derivatives Market, member of Boards of Directors of GMR Infrastructure, NSDL, MCX-SX Clearing Corporation and member Board of Trustees of UTI AMC. He has also been a Visiting Professor at Columbia University, New York, K.U.Leuven, Belgium, EDHEC, Lille, France, AESE, Lisbon, Gothenberg University, Sweden, and Economist at Edison Electric Institute New York. The Module on International Fi-

nance was divided into eight sessions covering the following key areas: International Monetary System Exchange Rate Economics Currency exposure and risk Foreign Exchange Market Currency Derivatives Management of Currency Exposure International equity investment and external borrowing International Project Appraisal Conveying her thanks, Prof Ranjani Matta, Area Chair, Finance, highlighted that the participants appreciated Prof. Apte’s style and ability to explain complex issues in simple and systematic steps. 

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Entrepreneurship is the Future of india ndia

“Your time is limited, so don’t waste it living someone else’s life. don’t on’t be trapped by dogma - which is living with the results of other people’s thinking. don’t on’t let the noise of others’ opinion drown out your own inner voice. and nd most important, have the courage to follow your heart and intuition. they hey somehow already know what you truly want to become. Everything else is secondary.” -Steve Jobs, co-founder of Apple and Pixar

Mr. abhijit Mukhopadhyay Assistant Professor-Economics, IILM

n any economy, the business sector is important because it generates employment, among other things. Generating employment is beneficial to all sections of the society as it injects more demand, expands consumption and increases the market size. In this regard entrepreneurship is one aspect which is pivotal for development of Indian economy.

Entrepreneurship traditionally means a lot of start-up companies in the economy, and thereby means more employment. In fact, small and medium sized startups generate more employment than equivalent amount of capital in large industry. This is so because large industries tend to generate less amount of employment due to their capital intensive nature of production where

less amount of labour and more amount of capital are employed for extra amount of expansion. However, narrowing the definition of entrepreneurship to only start-ups does not give the complete picture about the idea and concept of entrepreneurship. In any traditional economy there can be numerous start-up ventures even from the side of existing big players in the market. For example, entrepreneurship is not only limited to the enterprising individuals who start their own on-line companies (related to any part of the business) in major industrial or commercial hubs, but also related to any new venture floated by existing big industrial groups or conglomerates. Fostering entrepreneurship for potential entrepreneurs creates more job opportunities for unskilled, semi-skilled and highly skilled labour in an economy. This also helps in generating further demand and boost in production. In this way, entrepreneurship contributes hugely to the economic development of a country. Precisely that is why in India entrepreneurship has to be nurtured and developed as it provides a win-win situation for everybody involved. Though some experts say that entrepreneurship is a personal trait, globally, business schools are evolving programmes and content to develop a better set of entrepreneurs. Often, we come across individuals who have some simple, novel yet profitable business ideas but due to lack of

exposure they tend to be passive in the business world. In this respect, the idea of an incubator was floated and implemented – even in some of the better known Indian universities and institutes including IITs, for quite a few years now. And then there is this latest concept of “start-up accelerators.” For potential

Fostering entrepreneurship for potential entrepreneurs creates more job opportunities for unskilled, semi-skilled and highly skilled labour in an economy. this also helps in generating further demand and boost in production.

entrepreneurs these accelerators are almost like what the “finishing schools” are for budding managers and professionals. The accelerator’s job is to fine-tune strategies, create a niche and then pitch it for investors. Usually these accelerators do this process through prolonged and deep mentoring and hands-on workshops. In return, they take sweat equity from the start-up owner(s). For the uninitiated, sweat equity is the participation of any individual or organisation in any project in the form of effort, instead of participation in the form of investing capital finance in the project. There is this story about such a start-up accelerator named The Morpheus. This was co-founded by the husband-wife duo of Sameer Guglani and Nandini Hirianniah in 2008, And according to media reports, The Morpheus is showing 72 per cent success rate till mid-2012, which is quite a significant success rate even if compared to international start-up accelerators like

Y Combinator and Techstars. Interestingly, this husband-wife duo of The Morpheus also earlier co-founded Madhouse Media in 2004, an organised movie rentals company that was acquired by Seventymm in 2007. After acquisition, Sameer and Nandini worked in Seventymm. One of those days, there was a proposal for them to help out in a startup venture. They were interested in helping but before they could realize the client asked for the amount of fee they charge. Still they said that they would do it for free but that client wanted to pay and subsequently their undivided attention. They asked for a remuneration equivalent to their salaries at Seventymm and the client agreed, and then Sameer and Nandini created The Morpheus and rest is – as they say – history. And they are creating good history for themselves.

ferent countries. In India also experts say that only 10 per cent of the tech start-ups succeed in surviving and doing sufficiently well. However, it is prudent to mention here that authentic and serious research studies or countrywide estimates on survival of start-ups are almost absent in India.

The very concept of creating such “incubators” and “accelerators” come from the hard statistical fact that most of the start-ups die their natural death within a period of one to two years of time. This is statistically true anywhere in the world including the developed nations. The estimates of failures vary from 80 to 90 per cent in different sectors and dif-

inculcated in the indian

Does this mean that entrepreneurship is not a quality to be encouraged? In the Indian context, the answer should be definitely negative. Despite a huge failure rate, entrepreneurship is one quality to be inculcated in In-

despite a huge failure rate, entrepreneurship is one quality to be psyche so that enough employment is generated and the economy remains solidly on the path of growth.

dian psyche so that enough employment is generated and the economy remains solidly on the path of growth. Whatever glitches we have in our system should be addressed instead with innovative ideas. The idea of start-up accelerator is such an idea where it helps another start-up while itself being some sort of entrepreneur or start-up. Any failure to do so may even halt or stagnate Indian economic progress itself. The beauty of any entrepreneurial venture or start-up is that essentially it nurtures itself through domestic demand and then contributes to that domestic demand also – unless it is a start-up created by any existing big industry for some other reasons and addressing some part of international demand. This implies that any small or medium sized entrepreneurial venture would boost domestic demand and then domestic selfsufficiency. From that aspect also there can be more reasons to foster, develop, nurture and grow entrepreneurship in India. It is true that business and financial environments are often discouraging for a start-up, but there lies the challenge for the government to remove any barrier which hinders the development of entrepreneurship. It may now be prudent and useful to end on this note and also by quoting Richard Branson, the multi-billionaire founder of Virgin Enterprises – “Business opportunities are like buses, there's always another one coming.” 

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V ral Market ng

Advertising” which was then reprinted in the Financial Times of London.

Ms. anju Gulla Assistant Professor, Marketing & Sales, IILM

he new age customer is showing increasing resistance to traditional forms of advertising such as television or newspaper ads. In recent years, traditional advertising has seen various pitfalls and problems. Advertising legend Maurice Saatchi in 2006 declared it as “The Strange Death of Modern

It has been a number of years now that a family in an urban setting no longer gathers to watch television. It has been observed that the life of a 30 second commercial is almost finished. Even if it is not yet finished, now days, family members in an urban household would not be watching the same screen (Laptops, mobile phones, iPods, and games). This has brought more media fragmentation, more channels, more choice, and more complications. A new marketing paradigm is emerging. The old model of advertising in which the audience was a captive one has gone. “Today, advertisers chase consumers

with a certain air of desperation” (Auletta, 2005). With the rise of technology and its ability to bring individual consumers together in a new force, a viral approach to marketing seems less like an imperative than an option. Audiences are behaving as networks – networks primed for the introduction of new brand ideas that look less like marketing messages and more like simple communication between individuals. Whether online or offline, consumers are more savvy than they ever have been (Grant, 2006). Marketers need to leverage this and show the respect they deserve by engaging them in a dialogue. Viral marketing describes any strategy that encourages individuals to pass on a marketing message to others, creating the potential for exponential growth in the message’s exposure. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions. Besides viral marketing, marketers have given this phenomenon several names, “buzz marketing”, there is also “reaching the tipping point”, and “convergence marketing”, all of which refer to a very specific type of word-of-mouth commu-

marketing strategy that builds on common motivations and behaviors for its transmission.

5. Utilize existing communication networks nication about a brand or product that leads to self-generating demand or run. As Rosen (2001) points out “it’s the aggregate of all person-to-person communication about a particular product, service or company at any point of time”. So what elements should a viral marketing strategy have to make it powerful and effective? Some of the elements are listed below.

An effective viral marketing strategy: 1. Gives away products and services. 2. Provides for effortless transfer to others. 3. Scales easily from small to very large. 4. Exploits common motivations and behaviors. 5. Utilizes existing communication networks. 6. Takes advantage of others’ resources.

1. Gives away valuable products and services Most effective viral marketing programs give away valuable products and services to grab attention. Catchwords like “cheap” and “inexpensive” do generate a wave of interest but “free” tends to work like magic. Viral marketers practice delayed gratification. Anything given away free to potential customers attracts eyeballs. Eyeballs then see oth-

Viruses spread where they are easy to transmit. Hence the medium that carries the marketing message must be easy to transfer and replicate: email, website, graphics and software download. Viral marketing works famously on the internet because instant communication has become easy and inexpensive.

Most people are social. It is a well-known fact that each person has a network of eight to twelve people in their close network of friends, family and associates. A person’s broader network may consist of scores, hundreds or even thousands of people depending on his/her position in the society. Network marketers have long understood the power of these human networks. People on the internet also develop a network of relationships, both weak and strong. A smart strategy should be able to place messages into existing communication between people and encourage it to rapidly multiply its dispersion.

3. Scales from small to very large

6. Takes advantage of other resources

To spread fast like wildfire, the transmission method must be rapidly scalable from small to very large. To ensure success of the strategy, mail servers must be added quickly or the rapid growth will bog down and die. If the virus multiplies only to kill the host before spreading, nothing is accomplished.

The most creative viral marketing plans use other resources to get the word out. For example, affiliate programs place text or graphic links on other websites. Authors who give away free articles seek to position their articles on other web pages.

er desirable things that you are getting and that further brings in valuable e-mail addresses, advertising revenue and e-commerce sales opportunities.

2. Provides for effortless transfer to others

4. Exploits common motivations Clever viral marketing programs take advantage of common human motivations. What are the common human motivations and behaviors? Greed drives people and so does the hunger to be popular, loved and understood. Hence it makes sense to design a

References • Auletta, K. (2005, March 28). The new pitch. The New Yorker, 81(6), 34-39. • Grant, G. (2006). The brand innovation manifesto. Chichester, UK: John Wiley & Sons Ltd. • Saatchi, M. (2006, June 22). The strange death of modern advertising. The Financial Times of London. Retrieved November 14, 2012, from http://ft.com 

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the road to inclusive Future

Ms. Nidhi Piplani Lecturer, Economics & Strategy, IILM

nclusiveness seems to be the talk of the town these days. Be it inclusive growth, financial inclusion, inclusive marketing, inclusive discussions, inclusive development or inclusive education. The term “inclusive” seems encyclopedic. But what does it really mean for the marginalized, underprivileged, powerless, voiceless sections of the society? Inclusiveness seems a distant dream for them. The precarious situation cannot be totally due to the lack of government measures, corruption, red tapism and all the evils existing in the world, but the root of the problem lies in the rigid and obsolete mindsets that work in the background. The unending quest to gain the momentary pleasures of life like power,

money to keep up the status quo has inexorably weaved in a vicious web of division, insecurity and inequality. Inclusiveness within is a key to an inclusive future. The degenerating family values, overcoming the guilt of unethical behavior to achieve the larger goals of life have blurred the vision of the people. Trying to achieve inclusive development without building inclusive families and societies is a mirage we all seem to be following.

as they say charity begins at home… Nuclear Families seem to be the ‘in-thing’ nowadays. But they are often accompanied by isolation, strained relationships, abused ageing folks, domestic violence, discrimination, health issues and stress. An inclusive home cannot

be idolized as one where there is complete harmony but where differences in opinion is respected and consensus is easily achieved. Here the bread winner playing the role of a guide, mentor, friend amicably resolving conflicts and making every possible effort to stay put. Giving each member roots and wings to fly is the key to a happy home. The right attitude is necessary to be content. Only then a person will be able to discharge all his responsibilities effectively. It is the value based education at home and at school that helps instill the right attitude and creates inclusive mindsets.

inclusiveness ubiquitous in society After achieving inclusiveness at home, the next task is to bring in inclusiveness in society. Any act of discrimination against

india being the second fastest emerging economy of the world is plagued by nepotism, corruption and red tapism. the government has a crucial role in disseminating the public good called “education” across different sections of the society.

the mendicants beseeching the passersby, servants, slum folks, differently able people, people suffering from life threatening diseases like cancer, HIV/AIDS, underprivileged sections of society acts as big obstacles. Apart from these evils that rust the mind, we also have other evils responsible for the rusting of the society. India being the second fastest emerging economy of the world is plagued by nepotism, corruption and red tapism. The government has a crucial role in disseminating the public good called “education” across different sections of the society. This not only means that the government should uplift the down trodden strata but give their basic needs a priority and do what it can help in creating a long term living. The government pro-poor policies like Jawahar

Rozgar Yojna, Integrated Rural Development Program, Rural Housing Scheme, and Swarnjayanti Gram Swarozgar Yojana are efforts in the right direction. However, a lot is yet to be achieved.

an inclusive nation Emerging economies like India are synonymous with poverty, unemployment, infrastructural constraints. A large population engaged in the unorganized sector, flaky government policies, lengthy legal procedures yet they are spinning the engine of growth. The entrepreneurial instincts of some great visionaries have helped build the nation brick by brick. Achieving

inclusive development pertains to a sense of togetherness, harmonious relations across all sections of the society and sensitivity to social issues. All this can be embedded only when ethics and moral values govern the decisions taken especially when these decisions have the power to influence many. Inclusiveness as a concept is a marriage between the rich and the poor with one having the financial strength of making any dream come true and the other, the vision to a bright and glorious future. Inclusiveness, if we see in a nutshell, is nothing but everything. The absence of even one of the elements is conspicuous. To

achieve Inclusive Growth, being the main objective of the current Five year plan, it is imperative for us to first realize our potential in achieving inclusiveness not within self or society, but the whole nation. An equitable distribution of resources, transparent bureaucratic machinery, stringent laws and harmony and interdependence across all sections, is the key.

references • Deloitte Report 2011 “Inclusive Growth-A Challenging Opportunity” • Gupta, 2012 “Building an Inclusive Future”, Indian Management Journal, Vol.51, Issue 11 

Building an inclusive India leverages the need for identifying the key levers in governance, education, energy and resources, telecom and technology, infrastructure, healthcare, financial inclusion, and business model innovation.

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indian leadership: respect thy Elder

eadership is a current day challenge experienced in India and around the world. Organizations want to focus a lot on developing their employees into leaders. In addition to the challenges in leadership development in India, the present article focuses on how respecting elders and socialization influences leadership development. There are reflections and insights around how leadership development is hindered in the present socializing style, taking an example from one of the eminent childhood story lessons for leadership development.

the story of Eklavya comes from the Mahabharta epic in indian mythology Eklavya was a young tribal boy who had the intense desire to learn the art of bow and arrow. One day he came across the gurukula (school) of Dronacharya. Drona (The teacher) was instructing the Pandavas and Kauravas (The students from the higher class) the art of warfare. He went to Drona and asked him to accept him as a student to which Drona refused, telling him that he taught only Kshatriya, and Brahmin youth (As eklavya belonged to the lower caste). A dejected Eklavya then took a decision. He would become the best archer, and his teacher would be Dronacharya. He went deep into the forest and fashioned a statue of Drona out of clay. He worshipped this clay image and took it to be his Guru. He practiced with a bow and arrows relentlessly and gradually became very good in the art of archery.

One day, Eklavya heard a dog barking loudly. Seeing that the dog was distracting him, he took up his bow and shot five arrows into its mouth. He shot the arrows in such a way that the dog, though unhurt, could no longer close its mouth. It ran whimpering to Dronacharya's gurukula. Drona saw the dog and wondered who had shot the arrows. After finding out that it was Eklavya, who said that he was Dronacharya's student, Arjuna (one of the best students at the academy) was upset. Arjun reminded Dronacharya of his promise that he would be the world's best archer. Drona went to Eklavya with all his students, where he saw the boy practicing in front of his clay image, which had fresh flowers around it. Eklavya ran to him and fell at his feet saying, "Guruji, thanks for coming here. After so many years of learning from your image, I have the good fortune of seeing you."

but surely walked up in front of his guru's clay imaged, took out his knife and cut off his right thumb. He knew he would never be the best archer now, without his right thumb.

With his heart full of admiration for the young boy, Dronacharya said, "My boy, you have successfully completed your education. Now it is time for my Guru Dakshina (pay back your teacher for this education given to you). Will you give me whatever I ask of you?" Eklavya happily replied in the affirmative. Drona then said, "Eklavya, you made me your Guru even though I rejected you. For my Dakshina, give me your right thumb."

Some of the concepts which were emphasized in our childhood with the story were: self learning, dedication, motivation, obedience, aspiration, respecting your teacher and a lot more. The influence of this learning can be seen in our behavior-ultimate deference when interacting with individuals high on position of power or age. The present article tries to see the counter effect of these learning on leadership development.

Eklavya looked at him amidst stunned silence, and then slowly

Our socialization has a deep impact on us. There are vari-

ous factors which contribute to our socialization–family values, cultural conventions, religious beliefs, parenting style, family background etc. Parenting is a critical component in socialization. Social learning in most forms is latent; it is exhibited only if a similar situation arises. Understanding the role of parenting/socialization in developing leadership skills can be interesting, specifically to the Indian cultural context. There are studies in continuation to the global study indicating the difference in leadership styles for different cultures reflecting how socialization in the Indian context inhibits, contributes or hinders in developing leaders. Looking at Indian culture, high power distance (Hofstede) has its nascence from traditional values with which we are brought up. Parents in India preach to their children “not to argue, respect elders, be obedient and curb feelings etc.” We are trained not to voice our inner most feelings. Elders are the higher authority and you have to follow what is being said to you on most occasions. This is socialized deep within the Indian society and we carry this to work. How we interact with our colleagues, our seniors and their seniors is in-

fluenced by how we have learnt the behavior of interacting and expressing our views and following instructions. Creating an identity that encourages individualism seems to have a limited presence in the parenting style and the education system that exists in India. If we are trained to be followers, people who execute commands and dictates of others, how will they develop independent thinking? If one only follows the actions without critical analysis and understanding of their implication, how conducive is it for developing independent thinking? In the Indian context, most of the employees/subordinates appreciate bosses who are directive, they give clear end to end instructions as to what needs to be done and how it is to be implemented. With this kind of training, we are conditioned to follow instructions and we are always seeking guidance and directions to complete the task– hence living in a sense of gratification to complete the task assigned. But how does this style and manner of grooming/developing help the subordinate, though it can be said to be a stable state as the task is being completed and targets might be

achieved, but for future development of a leader…? Socialization limits the scope of thinking and looking beyond what is being told. Many a times people don’t even know they have the option to express their view. Long lost is the thought of contradicting their view. The argumentative Indian side does not show up in situations which would involve a difference in hierarchy. Deviation, unconventional, not being traditional, not following the norm…such behaviors have a more negative connotation attached to them than being different. There are a lot of people who would have to rationalize their actions to being part of the society we belong to. They can lead to a person becoming an outcast in the society. The pressure to be associated and have a sense of belonging seems to pressurize the people. Going against the tradition, taking risks, thinking differently, believing in what they feel is right are some of the behaviors which are not taught in traditional Indian context. Leading in your independent way in what you believe in is often lost. This is a challenge in developing their style of leadership which can be more successful than mimicking someone. This can be an interesting debate about “how can socialization in India contribute to leadership development”. Are there changes in parenting which can be more conducive for leadership development?  Ms. Ruchika Mehra Jain Lecturer, IILM

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ntrepreneurs who have redefined our World

Prof. rahul K. Mishra Associate Professor, Strategy and International Business, IILM

magine a world without electricity, cars, cell phones, personal computers, I-pads and applications. Imagine India without a steel factory, milk and butter for the masses and its IT industries for young people. The answer is: it is difficult to imagine. Behind numerous other products and services, there is one known or unknown entrepreneur who had self belief to bring it to people and build great companies which supply those products. We must acknowledge the role of these entrepreneurs who have shaped the modern world as powerful as the leaders, thinkers, scientists, writers, and artists have. Without them the world would have been a poorer place to live in. What sets them apart from ordinary human beings? Who are these extraordinary individuals who took the risk and blazed a new trail and in a way, made the modern world as it is now? The greatest respect should be reserved for those who took the risk and redefined the world. They founded great companies and brought in great products which have contributed immensely to the progress of humanity and made the world a better place. Out of thousands of such individuals, I have prepared a selective list of four extraordi-

nary individuals who with their entrepreneurial ventures and products have shaped our world the way we see it. They are â&#x20AC;&#x201C; 1. Thomas AIva Edison who founded GE and brought electricity to the masses. 2. Henry Ford who made cars for the masses. 3. Bill Gates and Steve jobs who made personal computing available for masses. We can look at the contributions of each of these individuals who have helped us create this modern world and have made life of the masses decent, dignified and helped the world to go to the next level of economic and social development. 1. Thomas Edison opened a laboratory in Menlo Park in New Jersey in 1876. The greatest invention of the age like the incandescent lamp or the bulb as we know it was product of that laboratory. By 1890, Edison established the Edison General Electric Company by bringing his various businesses together. GE, one of the greatest and the most innovative companies in the world has a legacy of Edison's early business offerings. They are still part of GE today, in-

cluding lighting, transportation, industrial products, power transmission, and medical equipment. Thomas Edison's experiments with plastic filaments for light bulbs in 1893 led to the first GE Plastics department, created in 1930. In a way, Thomas Edisonâ&#x20AC;&#x2122;s scientific and business genius helped create the modern world through one of the most successful companies. 2. Henry Ford: Ford Motor Company was incorporated in 1903 with Henry Ford as vice-president and chief engineer. The infant company produced only a few cars a day at the Ford factory on Mack Avenue in Detroit. Groups of two or three men worked on each car from components made to order by other companies. He realized his dream of producing an automobile that was reasonably priced, reliable, and efficient with the introduction of the Model T in 1908. This vehicle initiated a new era in personal transportation. By 1918, half of all cars in America were Model Ts, creating mobility in the American society and economy. To meet the growing demand for Model-T, the company opened a large factory at Highland Park, Michigan, in 1910. Here, Henry Ford combined precision manufacturing, standardized and interchangeable parts, division of labor, and, in 1913, a continuous moving assembly line. Workers remained in place, adding one component to each automobile as it

moved past them on the line. Delivery of parts by conveyor belt to the workers was carefully timed to keep the assembly line moving smoothly and efficiently. With assembly line manufacturing of automobiles on a large scale, the age of personalized motorized vehicles started. When we see so many cars, we must not forget the contribution and genius of Henry Ford. The growth of automobiles led to the rise and expansion of cities and trade and commerce at a faster pace. The credit must be given to the messianic zeal through which Henry Ford realized his dream of building the big car factory with assembly line. 3. Bill Gates and Steve Jobs If we look back at the computing industry in 1975, it was a small and dominated by big companies like IBM. But the two visionaries and geniuses one in the area of software and the other in the area of

smaller personal computers in hardware, changed the landscape of the computing world. The age of personal computing started with the contribution from Bill Gates and Steve Jobs. And to say the least, it has changed our world. Both Gates and Jobs have changed other industries also like Film, animation, photography, music, films and so on. Between the two of them, they have created an industry whose impact has been far reaching. They have created value worth trillions of dollar and employed millions of people. The younger generation which takes electricity, cars, computers and Ipads for granted must try to solve the biggest problems which our world is facing. The cheaper source of alternative energy, industries with lesser carbon emission, sustainable development, recycling of resources, alternative cheap sources of food, and cheaper ways of water purification are going to redefine the world. The list is long of the things which we need to do. ď Ž

student article

“India 2050: Developed or Emerging?” The future of India can only be predicted and estimated. Whether the economy will be the largest in the world by 2050 is a debatable issue.

ndia’s mission to be a developed nation by 2050 with negligible disparity between the haves and have-nots is a big challenge for the policy makers. The future of India can only be predicted and whether the economy will be the largest in the world by 2050 is a debatable issue. The country has witnessed a rise in the disposable income along with the increase in GDP post the liberalization of 1991. However, the country is still far

away when compared to other nations like China and US. There is still a large disparity between the rural and urban population in terms of income and standard of living. Thus India has a long way to go to achieve what it envisages to be in 2050. The current outlook of India’s economic health characterized by inflation and sluggish growth does not give an impression that we are on the track of becom-

ing the largest economy worldwide but is just a mere bump. China is the current nation that will move ahead of US. However India will eventually emerge the largest nation by outpacing China by 2050 to become the world’s largest economy with an estimated GDP of $85.97 trillion as stated by a report by global property firm Knight Frank & Citi Private Bank. The country has huge potential to emerge as the “new west”. India is viewed by many investors as a fertile investment zone that will reap great returns in the long run. The Indian government had granted FDI in retail and aviation that is viewed by investors as hotspots for investment but due to some political hazards, investors are sceptical about it, but in the future things will resolve and the advantage will be exploited for growth of the nation.

The country has come a long way since independence and currently the government is actively making various reforms to enhance the future prospects of the nation. The government has taken some bold steps in the recent past but they have to ensure that the there are no bottlenecks and bureaucratic delays in the implementation of the policy. Though the government has been working hard to ensure social and financial inclusion, it has various other threats

its expenses but this has posed another challenge of inflation. Inflation in India is another major area where the monetary policy of the RBI has not been very effective with the inflation rate remaining high. The Reasons for high inflation could be correlated with monsoon failure and excessive rise in the prices of oil. Besides, imports have slowed down due to the crisis in US and Europe which has created a reason to worry. The government

have arisen. The key would be to seek maximum advantage from such a move in the interest of the economy. Another issue that India has to overcome is the regional disparity that exists across the nation. With a population of 1.2 billion and great diversity in terms of religion, lifestyles, languages and culture it becomes extremely difficult to come up with one solution that suits all. However, with a steady and right approach, these issues can be dealt with.

Excessive dependence on agriculture by majority of the Indian population is another area where the government has to step in with key reforms and changes.

and challenges to deal with like scams and corruption, terrorism, population and poverty which act as a major barriers to the government. In order to send a positive signal across the globe, the country has to develop sound mechanisms to counter attack these evils. The burden of trade deficits and increasing public debt also burdens the government. The government has currently reduced subsides it provided on diesel to control

has to cope up with the situation and develop policies accordingly to fight these issues. Excessive dependence on agriculture by the majority of the Indian population is another area where the government has to step in with key reforms and changes. The government has to come up with a sound approach to catert the needs of farmers and allied individuals. The aviation sector of India looks gloomy but with the FDI approval, fresh hopes

India still has a promising future that will lead it towards becoming the economic gravity of investment. We are currently the top producers and exporters of crude steel, spices, agricultural products etc. With regard to the service industry we have reached new heights in IT and software services, financial services, education, hospitality and healthcare. India has done some breakthrough innovation in the field of Pharmaceuticals,

Automobiles and Telecommunications. The size of our small car industry offers investors a very lucrative platform to sow their investment only to reap huge returns in the long run. With a rise in the disposable income of Indian households, additional demands for tourism, hospitality and other allied services has increased. The country has become a popular destination for education in Asia with increase in the number of Asian students visiting our colleges and institutes. India has travelled a long road. From being the underdog to finally emerging as the potential contender for becoming the supreme country by 2050 is remarkable. India has the potential of achieving its mission if we look at the resources it possesses. The country has abundant skilled manpower that is yet to join the working population. The amount of natural resources, the country owns and the way its unleashing new ideas are simply great. It is considered that the number of youth that will join the industry every year and the amount of demand they will create for banking services will make India the third largest financial services consuming nation in the world. Apart from this the pace with which the cities are developing is also overwhelming. Cities like Surat and Nagpur will be among the fastest growing cities in the world. Along with it Mumbai and New Delhi will be in the top 20 global cities in the world. According to a report by Credit Suisse, 54% of Indian population will reside in urban areas by 2050 implying a rise in the standard of

living of people. It is also being reported that a 5% increase in urbanization leads to 10% rise in the per capita economic activity. The size of the Indian economy is enormously increasing with each passing year, although there are ups and downs but it is a part of the process. The country’s future can be changed if the right course of action is implemented by the government from time to time. India still has many areas where it needs to make reforms especially where the public units are incurring losses. The government in the recent past has promoted privatization in many areas but the political instability and delay in decision making should be checked. Thus, India’s future looks bright with many grey patches that should be brought under control soon so that the country accomplishes its mission. The country’s strength lies in its ability to exploit various opportunities to

its maximum benefit. India has a very prosperous and sound opportunity to excel above all nations with the help of appropriate approach and mindset.

References • http://timesofindia.indiatimes. com/business/india-business/ India-to-outpace-China-to-beNo-1-economy-by-2050-Report/articleshow/12447197. cms • http://articles.economictimes. indiatimes.com/2012-10-28/ news/34780394_1_retail-inflation-macro-cent • http://www.pwc.com/in/en/ press-releases/india-third-largest-domestic-banking-sectorby-2050.jhtml • http://www.siliconindia.com/ news/business/India-WorldsLargest-Economy-by-2050-nid-110701-cid-3.html 

Mr. Shadab Ansari, Student, Post Graduate 2011-13, IILM

student article

Cross Connection: Vodafone Tax Case with the Indian Government

The Income Tax department of India believes that even if the transaction happened between two non-resident companies, still, Vodafone is liable to pay taxes because the transaction consists of assets in India.

odafone was recently involved in a $2.5 billion tax dispute with the Indian tax authorities over its takeover of Hutchison Essar India in 2007. It was alleged by the Indian Income Tax authorities that the transaction of Vodafone involved purchase of assets of an Indian Company. Therefore, according to the Indian government, Vodafone is liable to pay tax in India. Vodafone did not accept the decision of the Government of India that it was liable to pay taxes and challenged the decision in the Bombay High Court. The Bombay High Court rejected the plea and was in favour of the Government of India, stating that Vodafone was liable to pay the taxes since the 2007 transaction of taking over Hutchison Essar Limited involved purchase of assets of an Indian company. Vodafone was not satisfied with the decision of the Bombay High Court and decided to challenge the decision in the Supreme Court.

The honorable Supreme Court has made the decision now in favour of Vodafone stating that the transactions were made between two non-resident companies outside India and involving assets that were not part of an Indian company. But the Government of India still does not agree with the verdict of the Supreme Court and is liable to impose taxes and fines on the telecom giant, with Finance Minister P. Chidambaram stating that there would be no rash action by the tax authorities and the issue would be decided after considering all aspects of the case. He also said that the basis of a decision on the Vodafone case would also be based on the recommendations of the Shome Committee on the indirect transfer of assets. In response to a query on whether the tax authorities would send a notice to Vodafone for collection of dues following amendment in the Income Tax Act to bring in the retrospective provisions,

Mr.Chidambaram said, “There is section 119. There is a Supreme Court judgment. There is the opinion of the Attorney General. All this have to be studied by the assessing officer and his supervising officers… They will study all that. In the meantime, we will get the Shome Committee’s report also.”

The actual problem Vodafone took over Hutchison Essar India in 2007 through Hong Kong-based Hutchison, which sold its shares in the Indian company based in an offshore destination. In May 2007, Vodafone bought Hutchison Telecommunications International Limited’s 66.98% stake in the Indian telecom Company Hutch Essar Limited for $11.2 billion. Hutchison controlled its telecom subsidiary through a Cayman Island Company called CGP Investments. CGP’s shares were sold to Vodafone, which consequently became the majority owner of the telecom firm. The Income Tax department of India believes that even if the transaction hap-

pened between two non-resident companies, still, Vodafone is liable to pay taxes because the transaction consists of assets in India. Vodafone on the contrary believes from the beginning that the Indian Government has no jurisdiction to levy taxes from them since the transaction was between two non-resident companies of India and of assets that might have been in India but were not under any Indian ownership since CGP (Cayman Island Company) controlled the 67% stakes in Hutchison Essar Limited and Vodafone had purchased those stakes from CGP which in turn, is not an Indian company. And even if taxes have to be paid, Vodafone believes it should be Hutchison and not them. Vodafone also argues that India does not have any jurisdiction to tax the Hutchison deal because it was structured as a transaction between two overseas entities.

Conclusion The Vodafone judgement is important for the company as well as the country. But it has greater

ramifications. “The verdict will bring a certainty in the minds of global investors regarding Indian tax consequences in case of sale of their investments,” says Suresh Surana, founder of the accounting and auditing firm, RSM Astute Consulting. The tax authorities may have lost, but their position isn’t entirely without merit. If this be the accepted law, many multinationals would restructure their holding structures in their Indian interests. But Vodafone maybe one of the last companies to escape the capital gains tax net. Following the Supreme Court judgment, Indian authorities seem to have started mulling over the issue seriously and planning to plug such loopholes. The verdict might give a cue to other similar litigations awaiting a hearing. Recently the government has deferred the implementation of controversial tax-avoidance rules until 2016. The decision to defer GAAR would stimulate business confidence of investors. In next two years, it is hoped that the global and domestic economic conditions would improve and imposition of GAAR would not have too much negative impact on investments both domestic and foreign. Taking a futuristic view, Indian tax authorities may look at amending the current rules so that the same thing does not happen again.  Ms. Tanu Taneja Student, Post Graduate 2012-14 IILM

StUdENt artiClE

Social Media and itâ&#x20AC;&#x2122;s influence

e need to thank the new digital platforms like social media where technology is reinforcing people to create, participate, and share content on the web, where we can have meaningful conversations around events, places, people, news, brands, and products through blogs, micro-blogging sites like Twitter, social book marking, and sharing sites like Digg, social networking sites such as Facebook, social forums and review sites. Virtual worlds like YouTube, Second Life, and podcasts are a few new age tools to name.

Social media influences people behavior It is really interesting to see that the growth of social web is influencing people behavior and it is inducing them to become digital activists. Now many consumers have shifted from being passive consumers of products and services to the active participation age to get their feedback, be part of product related discussions, and look for brands or products they currently use or need in the future. While technology is evolving with new tools to simplify our online social interaction, at the same pace social media benefits are also increasing for indi-

viduals, businesses, and collectively for our society.

Social media impacting the business and society There is no any entry barrier for the digital media. Thus any individual can become an initiator, news creator, subject expert, journalist, and digital activist using blogs, micro-blogs, social sharing, and networking sites. This media provides an equal opportunity for anybody to voice their thoughts, opinions, and share information at their disposal. The popularity of social networks has also developed a new trend of social shopping where an individual can recommend to his group or friends product and service that he or she brought or used. So, the factor which really drives people to engage online is the peer-influence factor and an instant re-colonization for their individual digital activities in the form of comments, video clips, re-tweets.

Social media for betterment of the society People is at the heart of any social media. It empowers us to spread social causes, change perspectives and participate in digital activisms. The past year that saw Anna Hazareâ&#x20AC;&#x2122;s â&#x20AC;&#x153;Fast

unto death” movement was very successful, and social media helped this movement to a large extent in fighting corruption. More than 116,000 people on Facebook joined hands to support the movement. It is a good example of the smart use of social media for the betterment of the society. We can also take an example of the recent Delhi gang rape case, which showed a fruitful use of social media technology called Flash Mob to create awareness among people. So here is a question arising in our minds: what’s the USP of social media?? The answer for this could be that on this platform, free speech is unhindered. It’s a kind of virtual megaphone with a global reach, as the numbers show. Whether it’s Twitter or Facebook, India has a huge presence. Facebook has more than 65 million active users here, which puts it among the top five worldwide in terms of users. Twitter, which has 200 million active users globally, doesn’t provide country-specific numbers. A lot of this social media boom happened in 2012. Research firm Social Bakers estimated in November that the number of Indian Facebook users swelled by 14 million in the past six months. Most of these users are urban and young. A report says that 75% of the web users here are under-35. When we talk about Indians, unlike youngsters in other countries, Indians are basically active on the web for political reasons. A Research study says that nearly 45% of Indian web users, most

of them from urban areas, connect on social media to discuss politics. But recent cases show that in future apart from politics there must be users who will use social media for the business awareness purposes also.

do the new digital media kill the traditional one? Nobody knows precisely what will happen in the recent future. However, radio didn’t die after TV came and it only went through significant change cycles. If we look at the blogs or micro-blogging sites, most of the conversations are still derived by the content from traditional news or media channels, with the difference that people don’t want to pay for usual content delivered by traditional media as now they can get it for free on the web. This is a significant shift in terms of how the changing digital technology can influence the way people consume content from traditional news and media channels. According to the recent Indian Readership Survey, there is a decline in news and magazine readers across the country. This is not to criticize the traditional media, rather this is the fact that there have been a large number of social media these days. It’s effect cannot be drained off, as the trend shows but it will continue to grow in the future also.  Ms. Shanta Student, Post Graduate 2012-14 IILM

BooK rEViEW

Quiet: the Power of introverts in a World that Can't Stop talking

usan Cain, a lawyerturned-writer-andpsychologist, in her book, “Quiet, The Power of Introverts in a World That Can’t Stop Talking”, disproves the myth of the “Extrovert Ideal” – the accolades granted to extroverts who have the ability to focus on the world around them. Through research theories in neuroscience and psychology along with relevant case studies, the author highlights the importance of better understanding, the grossly under rated and often ignored potential of the “Introvert”.

Reviewed by Ms. Shuchi Parashar Carville Associate Professor-OB and HR, IILM Ms. Sonakshi Bajaj Student, Post Graduate 2012-14, IILM Author Susan Cain Publisher Crown Publishing Group, Viking/Penguin, UK

States, provides the perfect background to assert, just how effectively introverts can lead. The introduction also discusses the nature of Extroversion versus Introversion, and how to determine where the reader may fall on that scale. The author goes on to discuss, in a lighter vein, some findings about behavioral differences between Extroverted versus Introverted people, for example, Extroverts are far more likely to commit adultery, crimes in comparison to Introverts, who are less impulsive, capable of objective evaluation of situations and far better at delaying gratification.

Cain suggests that Introverts make up at least one-third No. of Pages The three chapters followof the world population, yet 352 ing the introduction adreceive considerably less dress how Extroversion beattention than the Extrocame the cultural ideal, of the 20th century , fed verts, simply because their interaction with the by self-help gurus like Dale Carnegie, marking a external environment is restricted by virtue of shift in paradigm from the Culture of Character, their personality type, as compared to that of the which judged a person more by their personal Extroverts. virtuous attributes and less by the charm of their public persona. If one believes that only Extroverts can prove to be effective leaders, and that working well in The second chapter “The Myth of Charismatic teams is the only way to foster creativity and inLeadership: Harvard Business School and Benovation, or, that Extroversion is the ideal choice yond”, takes a critical look at the case focused, for the contemporary business environment, one team driven, learning environment, propagated must definitely read this book. by institutions like the Harvard Business School. This chapter discusses the team based learning Quiet: divided into four sections. The book’s inenvironment as the right forum for Extroverts, troduction start with the story of Rosa Parks, the whereas, an Introvert may be at a loss, as he shy, quiet and courageous woman who was the may need time away from a collaborative envigenesis of the Civil Rights Movement in the United

ronment, to be able to think of a creative solution to a business problem. The Chapter, does not undermine the value of team based, case discussions, but brings forth the probability of losing out on the opportunity to contemplate deeply and carefully, the magnitude of repercussions of incorrect decisions. In the latter part of Chapter two, the author has explored a spiritual dimension to Introversion, wherein Cain argues that memberships of religious-spiritual groups and institutions pave the way to spiritual salvation through interaction with a community, thus questioning the ideal of Extroversion in “Does God Love Introverts? An Evangelical’s Dilemma”. She goes on to suggest that, in such an environment, the Extrovert may feel appreciated and actualized, but an Introvert, who prefers a more reflective and personal spiritual connection, may feel intimidated or stifled. Chapter Three, one of the most valuable chapters in the book, discusses research that shows that creativity and innovation is a factor of an independent thought process, to which, solitude acts as a catalyst. The Chapter” When Collaboration Kills Creativity: The Rise of New Groupthink and the Power of Working Alone”, contrasts the individual’s inherent ability to think, with the team based brain storming approach, to arrive at possible solutions to a problem. Section Two of Quiet, focuses more intensively on scientific genetic theories of temperament, in Chapters Four to Seven, “Your Biology, Your Self”, addressing the questions of how personality traits are influenced by genetics. Chapters Four, “Is Temperament Destiny? Nature, Nurture and the Orchid Hypothesis” and Five, “The Role of Free Will (and the Secrets of Public Speaking for Introverts)”, explores the element of free will-making a choice from among different alternatives. Chapter Six uses the relationship of Eleanor and Franklin Roosevelt to examine the sensitivity of the Introverted Eleanor vis a vis her husband’s personal attributes. In “Franklin Was a Politician, But Eleanor Spoke Out of Conscience”, Cain, discusses the research surrounding the various,

positive personality traits of Introverts, including a very deep moral conscience. To be able to appreciate Chapter Seven, a basic level of familiarity with the working of financial markets may prove an advantage. ”Why Did Wall Street Crash and Warren Buffet Prosper? How Introverts and Extroverts Think (and process Dopamine) Differently” uses the frame of financial decision making to bring out the author’s scientific perspective on the subject. Section Three of the book constitutes a, Chapter “Soft Power: Asian-Americans and the Extrovert Ideal” which fleshes out the discussion of “Do All Cultures Have An Extrovert Ideal”. The Chapter compares, the Extroverted traits of the American value system with the Introverted traits of the Asian value system. Cain may have chosen this group over other ethnicities, considering the growing population of Asian-Americans and their influence in the U.S. The discussion, though highly relevant to the immigrant population in the U.S, constitutes of only one chapter of the book and would have had higher impact if more ethnicities were included for discussion. Section Four, consisting of Chapters Nine, Ten and Eleven constitutes advice to the Introverts and people who interact with them on “How to Love, How to Work”. Susan Cain, a self-professed Introvert, argues that society benefits from having a healthy mix of both personality types. Her carefully researched book, warns against overlooking or under estimating the talents of Introverts. The book makes for a compelling read with examples of successful introverts and their contributions to society, which are in no way, less significant compared to those of the other personality type. An Introvert will feel like less of a misfit in a society, driven by a highly interactive business world, after reading the book. An Extrovert will better appreciate and comprehend the positive attributes of the opposite personality type and garner a healthy acceptance of why Introverts are the way they are. 

BooK rEViEW

Social Media Marketing Success

Five social media tools viz. Facebook, Twitter, LinkedIn, Foursquare and Google+ Local Pages are explained in detail. The book explains how to cross-promote business activities, how LinkedIn can be used as a marThe book provides with the keting channel and how to facts and hows in a concise, generate leads. It succinctly easy to understand language explains the interesting feaabout the use of Social Media Reviewed by tures, different applications and is meant for anyone in Poonam Nair available on these sites any business. Assistant Professor – Marketing IILM such as availability of analytics on Twitter and FAQs In introduction to the book, Publisher: on the same in a very easy the author explains how Createspace to understand way. It goes consumers are no longer Author on to explain how these passive in nature. They Angel Free sites look like on different know that what they say No. of Pages smart phones, geo-tagging, makes a difference and 124 and the steps to start getwant to be more involved in ting found. It shows how businesses. She goes on to one can strategise to generexplain how social media, if ate more customers and clients for his business. properly used, will help build stronger customer relationships as customers are now spending Angel Free also discusses the advantages and disless than 25 percent of their time paying attenadvantages of using social media. Like, that social tion to traditional marketing channels like televimedia has the ability to bring people together, and sion, print media and billboards and spend an helps promoting products or cause related camaverage of 5.4 hours a month engaged in netpaigns and ideas by allowing people from across working sites. the globe to meet at a single point. It also helps attract attention of a targeted audience to one’s site, Businesses have realised the potential of social product or service and is a great creative method media to boost their sales and promote themof doing business. On the flip side however, the selves and how to know more and more about wrong online strategy can damage one’s reputacustomers’ tastes and preferences. tion. It can be more time consuming than expected and one needs to understand how it works to Facebook, Twitter and LinkedIn have become the get social media’s full effect. new channels for word of mouth. She explains the reasons for social media’s popularity which is the Social media has its own limitations. Despite the engagement of use. Social networking sites make fact that it allows anyone to share anything onit easier to constantly interact, meet new people line, businesses need to be cautious about what and learn about brands. Social media sites have are they sharing. It is imperative to create a posalso given people a platform to discuss things and itive, credible online presence for the benefit of provide the marketers with an opportunity to lisboth parties.  ten to and interact with customers. ne of the best books on Social Media published in recent time, “Social Media Marketing Success” is written by Angel Free.

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i-Fest 2012: Extravaganza Encore

ome December and IILM a bustling hub of activity, energy, creativity, enthusiasm, intellectual confluence, fun, frolic and excitement. IILM welcomes I-Fest, the most eagerly awaited event on the Instituteâ&#x20AC;&#x2122;s activity calendar. I-Fest, the annual management festival organized by the faculty and students at IILM Institute of Higher Education, twirls you through heady euphoria, in the most memorable three days of a studentâ&#x20AC;&#x2122;s life at IILM. I-Fest is the canvas, the college provides to the students to

splash colors of their innovation, imagination and synergies across the campus. It also forms the point of convergence for students from diverse streams, across reputed institutions in Delhi and NCR. The I-Fest not only serves as a platform for students to develop their technical, management, communication and interpersonal skills but also provides the perfect forum for organizations and other participating educational institutions to be able to share their outlook amongst the student community.

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The festival since its inception in April, 2007, constitutes seminars, workshops, creative, technical, literary, musical as well as fun events designed to help students realize their potential, creativity and skills in various areas. The competitive, educational as well as recreational activities that constitute the I-fest are planned and designed in such a way that they cater to every aspect of the development needs of a budding manager, along with encouraging a spirit of healthy competition, camaraderie, team work and providing oodles of fun!!! The list of events and activities for I-Fest 2012 included something to interest everyone. 1. “Dalal Street” – A Virtual Stock Market Game. The best fantasy stock market trading

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platform. 2. “Head-Shot”- Counter Strike -A first-person shooter game, designed to test team spirit and strategy formation. 3. Face Painting - Splash the colors of I-Fest, for the cause of environmental conservation. 4. Ad Mad- Create your own ads for totally fictional-out-of-thebox-over-the-top products or services. 5. “The Run” - Need for Speed Most Wanted- A series of multiplayer computer games. 6. “Thesaurus Hunt” – Discover The Treasure Beneath… solving clues with sheer reasoning and logic, to dig up the treasure faster. 7. “Ru Ba Ru” – The Street Play competition. 8. Group Dance Competition. 9. “Pioneer”-The Business Plan competition.

10. ‘Bits of Creativity ‘ – Creative ideas in a collage. 11. “The Freestylers”- Basketball Tournament. 12. Corporate Walk- The Corporate Fashion Show 13. “Goal Maal” Football – Prelims 14. “Sargam” – Light Indian Solo 15. Step Up and “Step by Step” - Solo and Duet Dance Competitions 16. LAN Gaming – “FIFA” 17. Finanza Tranello” “tranello” means game in Italian- The questions in this game covered information, knowledge and current affairs of banking and finance sector within India and Worldwide. 18. “Confluence” – A Theatre Event 19. Marketing Plan Generation 20. Let Images Speak-A Photography Event

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21. Paint Ball Fight 22. Edu-tainment!” Story Telling Event The two day extravaganza received participation from many Delhi University colleges like Hansraj, Sri Venkateshwara College, Dayal Singh College, Guru Govind Singh College and Ansals Institute of Technology. The IILM campus was full of students from various campuses of NCR vying for an opportunity to participate in the various events. The performances were brilliant and the competition was stiff. The judges also found the assessment very challenging since the students had really marked up their performances.

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I-Fest may have lasted only three days, but it may have taken, the organizing committee comprising stalwarts like Ms. Ruby Thukral, Ms. Rakhi Singh, Ms. Jyoteshwar Dua and Ms. Nidhi Piplani along with a student committee, as much as three months to prepare. The sheer success of I-Fest could be gauged from the beaming faces of the cheering students as well as participants and winners whose eyes full of enthusiasm and hearts full of hope, are

transformed, from being just young learners to “Leaders”. Sandalwood perfumes even the axe that hurls it down. The more it rubs against a stone, the more it’s fragrance spreads, burn it and it wafts it’s glory through the air. Such is the quality of output that the IILM I-Fest inspires students to achieve. May it’s fragrance always spread.  Ms. Ruby Thukral Assistant Professor, IILM

The students at IILM played responsible hosts and had decorated the campus with the theme of GO GREEN with the help of Design School students & showcased it well. IILM students followed the concept of the theme by using and recycling waste, old newspaper etc. wherever possible. The Banyan Tree School students, IILM Design School students, Undergraduate and Post Graduate Alumni also joined in sharing the thrill. The I-Fest at IILM, showcased a formidably high standard of excellence in organization, ingenuity, the challenge and motivation provided and the effort, time and energy spent by students and faculty members in putting it all together can only be described as a labor of love. Needless to say, it was a “stupendous success”.

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Debate at A High: Twelfth Vivekananda Memorial Debate, 2012

The team of Twelfth Vivekananda Memorial Debate

The debate comprised of three exciting rounds of discussions and the first round was on the motion “Social networking has done more harm than good to society”. Eight teams from St. Stephens, Hindu, LSR, IIFT, IILM, IGSM and CMS reached the semifinals.

hat is a Debate? What set to the human race apart from the animal world? It is our ability to think and speak. Debate is a method of interactive and representational argument, discussions through logical consistency, factual accuracy and some degree of emotional appeal; it is an art of persuasion. Debate is a formal argument, in which two opposing teams propose or attack a given proposition or motion in a series of speeches. It is governed by a set of rules, which permit interruptions or “points of information” by the opposition. Competitive debating uses the skills of argument to debate and discuss im-

portant issues about our beliefs, government policies and proposals on how to improve the world or face the problems in society. A competitive debate should be rational, focused, and structured. Debating builds a unique set of skills, helping students to analyze problems, think critically, synthesize arguments and present these ideas in a cogent and convincing manner. The Twelfth Vivekananda Memorial Debate hosted by the SANSAD – the IILM Debating Society on 15-16 December, 2012, was a grand success and once again proved to be a hot debating ground to voice one’s opinion on debatable socio-economic issues.

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This year the contestants from the best colleges of Delhi University and Management Institutes in Delhi participated. The debate comprised three exciting round of discussions and the first round was on the motion “Social networking has done more harm than good to society”. Eight teams from St. Stephens, Hindu, LSR, IIFT, IILM, IGSM, and CMS reached the semifinals. The Second round of debate was on the motion “Transfer of cash subsidies will help poor people effectively” and was held in the presence of Mr. Vikram Sood, AVP Bank of America, Mr Rajiv Kaul- Senior Project Manager, Asia operations, Stern Advisory, and Mr Paramjit Lamba, AVP, Orient Kraft who adjudicated the semi finals. The finalists for VMD were IIFT, LSR, St. Stephens and IILM LR who contested on the motion “Would the economy be better off without MBA students”. The VMD finals was graced by the cordial presence of Mr. Rahul Sharma-President Public Affairs Genesis Burston Marsteller, Mr Sundeep Khanna-Executive, Editor of Livemint and Mr. Sandeep Dwivedi-Chief Commercial Officer at Inter Globe Technology Quotient Pvt Ltd (ITQ). They appreciated the quality of discussion and applauded IILM for setting up such a platform for self-expression by young minds. The participating teams also appreciated the level of competition for the prestigious event. The winner of the Twelfth Vivekananda Memorial Debate was Hindu Collge who bagged

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Mr Uday Singh Rana, participant from Hindu College, speaking for “Would the economy be better off without MBA students?

The Twelfth Vivekananda Memorial Debate in progress

the VMD trophy, a cash prize of Rs. 51,000 along with Gold Medal. Close on heels was St. Stephens who was the Runner Up with a prize money of Rs. 20,000 along with Silver Medal. The Best Speaker award of Rs. 10,000 went to Mr. Uday Singh

Rana from Hindu College. The Best Interjector Award worth Rs. 5,000 was won by Mr. Jagat Sohail from St. Stephens. Overall, the event was a real success and was a great experience for all the organizing members of the VMD team. 

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Buy Some Wishes: Helping the Under-privileged

ew years back a group of friends studying at IILM were interested in bringing working towards the upliftmenmt of to the society. They decided to start an NGO club for the welfare of the society. The club was named ICHHA, which stands for IILM Community Harbouring Hopes for All. The club organised its first activity - street plays in slum area with the objective of creating awareness about health, hygiene, sanitation,

women empowerment, child education etc amongst the dwellers of slum. Various vocational trainings were also organised for the children and women belonging to underprivileged sections to enhance value to their employability skills. They were taught how to make envelopes and carry bags using newspaper. Ladies were given personal hygiene and beauty tips. They were also taught stitching and embroidery.

The club then organised donation drives where clothes and stationary were collected from IILM faculty members and students and distributed to the housekeeping staff of IILM. After serving small group of needy and underprivileged section, ICHHA craved to serve to a larger community. They went on to organise an NGO Fair – “Buy Some Wishes” which gradually turned into an annual event at IILM.Through this event we could shower a smile on the needy not just by buying their products but also buying wishes for them. The objective of the event was to promote the products made by various NGOs. It is a platform for them to showcase their products and gain publicity. The visitors were sensitized the NGOs and they purchased the handcrafted products to support the participating NGOs. This year the NGO fair was held on 31st October 2012 at IILM, Lodhi Road campus. It saw participation from the organisations listed below:

Glimpse of the NGO Fair, 31st October 2012

Aadi – Action for Ability Development and Inclusion works with people with disability. Their stall was filled with handmade paper products like diaries, bookmarks, lamp shades, gift boxes etc.

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MESH- Maximising Employment to Serve the Handicapped – works with disabled and leprosy affected crafts artisans, for their rehabilitation. All products on display were beautifully handcrafted by various rehabilitated groups spread across India. The inmates at Tihar Jail had prepared products from apparel, furniture and mustard oil to paper products, soaps, blankets and disinfectants. They sell it under the brand name TJ’s. The students were surprised yet excited to know about TJ’s and couldn’t believe the idea of inmates being skilled during their under trial period. With a focus on triple bottom line, Tatsat a retail store in Hauz Khas works as a bridge between marginalized producers and markets. Tatsat’s stall glittered with danglers and key rings. Apart from this they also had herbal and scented soaps.

The enthusiastic members of the ICHHA club who organised the event

Overall it was an event filled with fun, excitement and enthusiasm to help the society. Everyone did their bit by “Buying Some Wishes”. It is a story which will never end but will prosper over the years to help in shaping a good life for the people.  Ms. Shipra Jain Research Associate, IILM

One of the oldest and well established NGO – Akshay Pratishthan which primarily provides education and shelter to children was also invited to the IILM Campus.

The visitors were sensitized towards the NGOs and they purchased the handcrafted products to support the participating NGOs.

Muskaan had diwali products on their display. Candles, diyas, incense sticks, cookies and gift boxes could be spotted on their stall. This NGO caters to those with special needs. Excitement and enthusiasm doesn’t end here, there were special attractions like games, food stalls, street plays which added to the event and enriched the initiative of the members of ICHHA.

Women participants from Roshni Rai School

Campus NeWs Kids for SAVE: Inculcating GreenConsciousness from the Start The RWA visits, signature campaigns, nukkad natak, raw band and insightful seminars have made the students of The Banyan Tree World School well-equipped with knowledge on how they can SAVE the environment.

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he Banyan Tree World School held the culmination of its environmentinitiative, 'Kids for SAVE in Gurgaon 2020'. SAVE stands for Serve And Value Environment. It was a part of their life skill value and attitude development project in which they tried to understand how 3 Rs of waste management are being implemented in the city of Gurgaon. The six-month long programme was concluded by involving other schools in Gurgaon who are also doing their bit for the environment. This was presented through a power point presentation on the 3Rs and e-waste. The participating schools were Amity International, Blue Bells Senior Secondary, Delhi Public School Sushant Lok and Scottish High International School. Each school presented their point of view in a unique manner with the help of role play and powerful visuals and logic. This environment initiative brought a wave of experiences for the students. They began in July with â&#x20AC;&#x153;Hari Bhari Vasundharaâ&#x20AC;?, which was an introduction to their project. Through the course of the project, they learnt the hows and whys of waste management and e-waste disposal among other things. This six month long activity, brought the students out of their comfort zones and made them realize what as students, they can do for society. This in addition was a great opportunity to integrated curriculum with real life applications of the concepts studied. The RWA visits, signature campaigns, nukkad natak, raw band and insightful seminars have made the students of The Banyan Tree World School well-equipped with knowledge on how they can SAVE the environment. The event was graced by Mr. Chandra Prakash, IAS, Commissioner Gurgaon and Rohtak Division who applauded the students and the staff for their effort to create noise about the glaring issues relating to the environment. The students of Banyan

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Campus NeWs facts and real-life examples. Since the panelists are among the pioneers in their respective fields, the students greatly benefitted from the lively discussion.

Students of The Banyan Tree World School presenting the E petition to Mr Chandar Prakash, District Commissioner, Gurgaon & Rohtak District for SAVE Campaign

Tree presented a power point presentation on their journey through SAVE. The raw band ‘Goosebumps’, using reused household items as instruments was greatly applauded by one and all. Spellbound by the performance, Mr. Chandra Prakash promised to take our suggestions back to the officers in charge so they could put our ideas into action at the earliest. Also, the school had organized a panel discussion on the 3Rs and E-waste disposal. The Panel discussion was moderated by the Principal, Mrs. Indu Mehrotra. Some of the panelists were Mr. Sanjay Kaushik, President of Uthaan – an NGO working for adopting rainwater Harvesting pits; Mrs. Geeta Mondol, Director – Ashish Foundation, an NGO for the differently-abled; Mrs. Sudha Chakrapani, Business Head at Global Excellence Group that works in the Health and Hygiene sector. Ms Nisha Singh, municipal corporator, is

very actively involved in improving the civic amenities in Gurgaon. All the panelists stressed upon the importance of urgent action and doing away with complacency and how children can really have an impact on society when they set out to do something different. The students interacted with the panelists in an engaging discussion peppered with hard-hitting

The principal Mrs Mehrotra felicitated Ms Surkha Waldia who had initiated and helped in the execution of the project. Mrs Waldia, also a parent at Banyan Tree, is the Founder at ELNA- Experiential Learning via Nature based Activities. It is under her guidance and relentless support that the students were able to get an exposure to the burning issues and an outlet for their expression. The activities have also ignited the complacent minds of students and made them aware of what we, the citizens of tomorrow, may be doing wrong with the environment. For everyone at Banyan Tree, it was a memorable experience. 

Students of The Banyan Tree School at the culmination on 'Kids for SAVE in Gurgaon 2020

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Confluence: New Shades of Art

he IILM School of Design organized the Confluence Festival from 29th November to the 2nd of December 2012- the 1st Art Camp wherein 31 artists of different age groups participated. Hosting them for 4

days, the students and faculty got an opportunity to witness various techniques and experiments during demonstrations. Also on view was the rush of creative juices in all participants, as each one also dabbled with paint, some for the first time ever! The final display was one to behold!! Amazing styles, expressions, moods, depictions, colours and images fought for attention. The students also created works which gained them the much needed encouragement. Each work of art had a story to tell and an individual unique style. The finale was the creation of an invaluable painting. Following random colours dabbed by the students on a canvas, the artists went on to paint in their inimitable styles and duly signed what resulted was a masterpiece to keep forever!

Artwork created by students of IILM School of Design

Extremely happy with the arrangements and with our faculty Mukesh Singhâ&#x20AC;&#x2122;s organization skills, the artists left satisfied with what they created in the camp. For us, it was the first of many more such camps, as we assured the fraternity of an exhibition soon and the next camp. The students gathered experiences that they will cherish all their lives, as seldom does one come in contact with so much talent, working in harmony together- as in Confluence. ď Ž

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Clay Workshop: Moulding the Creativity of Students

ILM School of Design held an open workshop for all the students of IILM. Mr Mukesh Singh who is an expert sculptor conducted the workshop. Starting with how the clay is prepared and kneaded, he went on to demonstrate how versatile clay can be. He helped each participant understand how to work on the potterâ&#x20AC;&#x2122;s wheel though it was tough; some participants managed to get perfect pots. Every participant, who tried their hand at it, left feeling good that they had actually created something with their hands. The joy of creating is unparalleled, really! Some students made tiles and also worked with blocks and simple tools to get amazing designs. Once the pieces created in the workshop were dry, they were ready for baking in the kiln that the students and faculty of IILM School of Design had constructed. A bunch of students from other schools joined in as part of their orientation to the Design School and enjoyed themselves thoroughly. They could have gone on all day, had we let them! ď Ž

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IILM Seminar on Designing Effective Supply Chain and Logistics Strategies

n the global world, business success is increasingly linked to effective management of supply chain and logistics. The effectiveness of all operations and supply chain are a result of blend of several factors such as systems, people and technology. While both supply chain and service operations have predominantly operational connotations, their efficacy depends largely on the strategic imperatives of the organizations. For any supply chain, having the required products at the right place and in right quantity, is critical to meet the market demand and capturing sales; yet most organizations struggle to meet this effortlessly. Most supply chains were engineered, some possibly brilliantly, to manage stable high/ predictable volume product requirements and meeting a stable demand pattern with more than adequate buffer inventory reach-

ing to limited terrains. However, fluctuating customer demands and market dynamics require strategic agility along with meticulous planning forcing companies to seek new ways to manage the costs and complexities of moving goods. In order to get insights about the complexities of effective supply chain and logistics, the Operations and Information Management Area at IILM organised a seminar 18th January, 2013 at IILM Institute for Higher Education, Lodhi Road whereby industry specialists shared their experiences. The first speaker, Mr Arvind Sharma-Marketing Manager-North & East, Reliance Trends discussed FDIâ&#x20AC;&#x2122;s impact on supply chain management with focus on cold chain. He enriched the participants with his experience in the field of supply chain management and shared

Mr. Arvind Sharma and Mr. Ravi Shankar Nagarajan with IILM Faculty

the challenges of setting retail stores in tier II & tier III towns of India. The second speaker, Mr Ravi Shankar Nagarajan, General Manager-Supply chain & logistics, Grohe addressed the participants on Six Sigma application in supply chain. Having a rich experience of seventeen years, he connected with audience effectively and acquainted them with simple yet effective Six Sigma applications. The last speaker, Prof. Vikram Singh Tyagi, Visiting faculty, delivered a brief address on world class supplier development. In all, it was an insightful session for the participants which gave them a corporate perspective of various supply chain models and challenges faced in the industry. ď Ž Ms. Shipra Jain Research Associate, IILM

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Recruiters’ Meet 2012: Towards India Inc.

ILM Recruiters meet was held at India Habitat Centre on November 7th,2012. The meet was organized to thank

Prof. Vandana is interacting with Mr. Atul Singh (from Reckitt Benckiser) and Shashwat Manohar (from Wunderman)

the Recruiters for their continued support in all activities related to industry exposure of our Post-graduate students. The event attracted about sixty recruiters from various industries to participate in the meet. The senior management, members of the faculty and Placement team from different IILM campuses were present to have a healthy interaction with people from the industry. The faculty was seen in enigmatic conversation with recruiters to discuss about our students’ performances in their current job. Live band played soft music in the background and created a friendly and congenial atmosphere to make everyone feel comfortable. 

The recruiters being addressed by Prof. Raghuvansh Mathur, Chair placements

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Experience India: IILM’s Engagement with Overseas Universities

ILM recently launched the “Experience India with IILM program”. It welcomed its first batch from Woosong University, Korea. The participants included students and professors of management and hospitality. The objective of the visit was to give the participants an insight in to the Indian business environment and rich cultural heritage of the country. The journey began with sensitizing the participants about Indian culture and mannerisms of local people followed by a visit to India's first live entertainment, theatre and leisure destination-Kingdom of Dreams. The students were introduced to Indian classroom teaching and they had a healthy interaction with eminent in-house and visiting faculties of IILM. A special session on "Business in India -Now and in the future" by Mr. Rajeev Karwal, the man who brought LG to India, was organized at the IILM campus. They were engaged in social community work with an NGO and exposed to one day industrial visit at Infosys and LG Electronics. The journey also included sight seeing to various religious and historical places like Jama Masjid, Taj Mahal, Agra Fort, Akshardham Temple, India Gate, Qutub Minar. Hindi language, Cooking and Bollywood dance classes were organized for them. The overall experience was concluded with a bonfire session on campus and distribution of sarees and kurtas as souvenirs.  Students from Elmhurst College Illinois, USA visited IILM Lodhi Road campus on January 18, 2013.  We are proud to share that IILM has partnership with the following universities for student/faculty exchange program: • Ecole de Management, Normandie, France • ESC Rennes School of Business, France • Solbridge International School of Business, Korea

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World Economic Forum 2012 An Experience Worth Striving For

n amazing yet brief encounter, with corporate and economic sector was experienced by the students of 2012-14 batch. Despite the fact that the duration of the event was very short, the World Economic Forum on India 2012 (WEF) gave us a global perspective on the financial and industrial sector of India. Each student was assigned to a coordinator from WEF. The work started as early as 8 a.m. in the morning, students were to assist in the smooth functioning of the scheduled programmes. We were performing a variety of jobs from registration to session management. The three day programme and two day preparation period taught us a lot about event management: be it scheduling, operations and most importantly teamwork. One thing that intimidates any fresher is the legendary image of a “boss” and the tyrannical power he possesses. However, recalling the code of conduct displayed by WEF staff in those five days would not only make me look forward to join a corporate house but also inspires me to be a “better manager”. The feeling of dominance was replaced by team spirit. While working under our respective coordinators, we not only learnt to perform the designated jobs, but were motivated and trained to assist anywhere an extra hand was required.  Ms. Sneha Koirala Student, Post Graduate 2012-14 IILM

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ICICI Direct Stock Mind Seminar

he contest cum seminar was held at IILM Lodhi Road campus on 16th October, 2012. Organized by Cash-O-Nova (Finance Club), the event was graced by Mr. Yudhister Kaul (Regional Manager – Marketing, ICICI Securities Ltd) who spoke at the event sharing his personal experiences with the participants. It was a nationwide contest with the aim to help students get firsthand experience of stock markets, organized in many colleges across India. Essentially, stock trading can be highly profitable provided the money is invested wisely. Successful stock trading is a result of hard work, superior judgment and trading skills. As in any venture, it is important that the stock trades are appropriately captured and recorded to demonstrate results on a periodic basis. Traders can learn from their own experience if they keep a track of their activities. The event was organized to orient the young students with the interesting and complex world of stock trading. The event was designed in a manner that it captured the participants’ interest and attention. The event was quite successful as a large number of students participated and were deeply engaged in the activities. Our Finance faculty deserves a mention owing to the efforts they put in for the event. While there were more than 120 partici-

pants, some students stood out i.e. Akshun Girdhar, Savita Chowdhary; Shruti Bhatia, Nishant Gambhir, Tarika Khurana, Ishant, Nipun Thapliyal, Vibhu Anand and Himanish Bajaj. The winners were rewarded with attractive prizes e.g. Bike, I-pads etc. “I attended the event and enjoyed it very much. I personally believe that stock trading is not a game but a way to increase knowledge. I also believe that the more you know, the better trades you’ll make. You don’t have to wonder, ‘what is stock trading? All you have to do is to invest about five minutes a day and you can be on your way to stock investing” Akshun Girdhar, (PGP 12-14) “The event was quite interesting and I thoroughly enjoyed it. I earned the maximum cash and I was awarded ‘best participant’ by the Speaker Mr.Yudhister Kaul and the Finance club,” Ishant (PGP 12-14) In summary, the event was highly successful in demonstrating the power of stock investing and has paved the way for more such events in the future.  Ms. Aarti Sharma Faculty Associate, IILM Ms. Sheela Wati Student, Post Graduate 2012-14 IILM

A reunion of IILM alumni, batch 2009-11

Alumni...... A Lifelong Relationship! â&#x20AC;&#x153;Students of Today are Alumni of Tomorrowâ&#x20AC;?

lumni Engagement is at the core of IILM. Keeping this in mind, the institute has worked towards building a strong alumni community and will continue to work in this di-

Alumni are the true brand ambassadors of their Alma Mater and represent it everywhere they go. They truly reflect the values of the institute from which they have graduated. rection. An alumni is the true brand ambassador of its Alma Mater and represents its organization everywhere he/she go.

They truly reflect the values of the institute from which they have graduated. In order to actively engage our alumni, IILM encourages alumni participation in final placements, summer internships, live projects, imparting guest lectures, participating in panel discussions in order to groom our existing students and also prepare them for the corporate world. Our alumni have played a significant role in sharing their experiences with the current students. The Alumni are also invited for seminars, conferences, advanced management programs etc. to

enhance their learnings which they can further use in their own respective work areas. On a lighter note, IILM also organizes the annual alumni lunch which is held in December every year along with other networking events for the alumni so that they can connect to their Alma Mater.

It was an evening full of excitement and joy as we saw the alumni dance and play games that were organized by our current students. This social event offered Bradford and IILM alumni an opportunity to reconnect with each other as well as with the staff, faculty and friends. In the past three months, IILM has organized alumni connect session in which senior alumni were invited and they shared their experiences of facing the interview processes and the ways to crack an interview. They also shared their corporate experiences and their achievements.

Alumni penning their memories and thoughts

This proved to be beneficial for our students since the placement season is at its peak and there is loads of anxiety among our final year students. These sessions turn out to be very informative as the students get an opportunity to learn from their seniors who have gone through the same anxiety, fears and excitement. Therefore it becomes easier for the students to relate to them and to their journey to success. At IILM we try and organize such sessions on a monthly basis in all the campuses to ensure that our relationship with the alumni goes a long way.... In the month of November, IILM along with the University of Bradford, organized a UBS networking event which took place at Lodhi Road campus. This event was attended by Dr. Sarah Dixon, Dean of Bradford University School of Management and Prof. Ilias Kapsis, Academic Partner Manager for IILM along with faculty members, existing students and the alumni who were the guests for the evening. The event saw the alumni coming in groups and moving around the campus recalling their days of fun and frolic. They expressed their thoughts by sharing that the best days of their life were spent at IILM where they studied and had fun at the same time. The alumni were seen buying mementos. It was an evening full of excitement and joy as we saw the alumni dance and play games sportingly that were organized by our current students. This social event offered Bradford and IILM alumni an opportunity to reconnect with each

other as well as staff, faculty and make new contacts. The event saw a lot enthusiasm among the alumni who recalled their memories with each other as well as the facilities. The alumni were asked to scribble their thoughts and write about their experience of coming back and the memories that were revived. It was a successful event and in future we are looking forward to more such alumni events with the University of Bradford. In December, IILM hosted its Annual Alumni lunch which was a grand success with 150+ alumni present with their spouses, making the afternoon a memorable one! The event started with the alumni registration. A networking session took place where

they interacted not only with their friends but also their faculty and shared nostalgic memories. There was a lot of enthusiasm in the air with alumni getting their pictures clicked with every known face.

was music and games to keep the spirit alive. Gifts were given to those alumni who won the musical chairs game and they were also given an opportunity to speak about their college life, friends and faculty.

The alumni were addressed by the Director of IILM, Ms. Sapna Popli which was followed by honouring our esteemed active alumni. Four alumni were honoured for being the most active alumni of IILM in terms of mentoring our students and proactive participation in other events. In order to show our appreciation, the Chairperson of IILM, Mrs. Malvika Rai honoured them, while Ms. Sapna Popli spoke few lines about them. In order to keep the afternoon lively, there

At IILM, we have prepared a calendar for the whole year to keep the alumni connected with their alma mater. The events proposed are, Alumni Dinner, Dandiya Night, Musical Evening, Cricket Match, Master Chef etc. Keep reading this column for more news and updates on our Alumni.....!! ď Ž Ms. Radhika Madan Assistant Professor, Marketing IILM

Faculty from Bradford and IILM along with the Undergraduate Business School alumni

ACADEMIC ACHIEVEMENTS Ms. Sapna Popli Conducted a session on leadership and women for women leaders at IBM India as a part of Winspiration 2012 at Leela Kempenski, Gurgaon on November 26, 2012. Conducted a training on Emotional Intelligence in October 2012 for international participants as a part of the International Training Programme on Leadership Development” under ITEC/ SCAAP Programme from October 1–19, 2012 organised by the V V Giri National Labor Institute.

Mr. Abhijit Mukhopadhyay Published a write up on monsoon for the special edition of “Down to Earth”, a publication of Centre for Science and Environment, New Delhi on August 18, 2012.

Prof. Sujit Sengupta & Mr. Sharad Gupta Conducted a Management Development Program on “Winning & Retaining Customers in Service Business” at PHD Chamber on November 21, 2012.

Prof. Sudhir Naib Conducted a Management Development Program on “ International Perspective on RTI” at Institute of Secretariat Training and Management, Department of Personnel & Training, Government of India on October 18, 2012. Conducted a Management Development Program on “ RTI and Civil Society” at Institute of Secretariat Training and Management Department of Personnel & Training, Government of India on December 13, 2012. Conducted a Management Development Program on “Performance Management Systems” at Bhartiya Vidya Bhavan, Kasturba Gandhi Marg, New Delhi on December 28, 2012.

Prof. Sujit Sengupta Attended the Management Development Program on “Supply Chain Management” at IIM- Calcutta from December 11- 14, 2012

Ms. Nidhi Piplani Cleared the UGC’s National Eligibilty Test for Lectureship in Economics.

Dr. Anupama Prashar Published a paper on “The Effects of Age on Consumers Food Retail Behaviour: An enumerative review of older consumers in Punjab” in LBS Journal of Management, Volume 9, Issue 1(June 2012). Published a paper on “Loyalty programs for hospitals: An sight for E commerce companies in Pragyaan Journal of Management, Volume 10, Issue 2 (Dec 2012).

Ms. Jaswinder Narain Conducted a Management Development Program on “ How To Make Your Website More Effective” at PHD Chamber on January 10, 2013.

Dr Anjali Malik, Dr Smita Girija, Prof Vandana Srivastava Conducted a Management Development Program on “Customer Relationship Management” at PHD Chamber on January 17, 2013.

Experience sharing of our alumni

Compiled and Conceptualised by Ms Sonia Takkar, Faculty Associate, IILM

Institute for Higher Education

Anil Kulwant Raii Group