The Edge by IILM Institute for Higher Education

IILM INSTITUTE FOR HIGHER EDUCATION

Vol XX, No 2, December 2016

Six Missions, One Voice in support of women’s right/empowerment/leadership. Celebrating International Day of the Girl at IILM.

ANIL KULWANT RAII GROUP

10th IILM Distinguished Global Thinker Award - Prof Ashish Nanda, Director - IIM Ahmedabad

Founder’s Day, 4th Nov 2016 -Remembering Dr Kulwant Rai on his 92nd Birth Anniversary

Editorial “Give them wings to fly; do not give them reason to cry.” The world’s 1.1 billion girls are part of a large and vibrant global generation poised to take on the future. Yet the ambition for gender equality in the Sustainable Development Goals (SDGs) highlights the preponderance of disadvantage and discrimination borne by girls everywhere on a daily basis.

EDITORIAL BOARD Mrs. Malvika Rai Dr. Sujata Shahi (Sr. Director, Gurgaon) Dr. Smitha Girija(Director Lodhi Road) Dr. Taruna Gautam (Director, Greater Noida) Ms. Radhika Madan(Assistant Professor) Ms. Rachna Madaan(Assistant Professor)

With this theme a transformative vision for education and development of girl child has been initiated at the IILM on International Day of the Girl (11 October), 2016 with Diplomats of top countries. The international day of the girl child gives people and organizations the opportunity to raise public awareness of the different types of discrimination that many girls around the world suffer from. IILM has given platform to discuss the importance of girl’s rights to equal education and fundamental freedom. While we can applaud the ambition and potential of the SDGs for girls, and recognize how girls’ progress is good not only for girls, but also for families, communities and society at large. The concept of “Profession of Management “was introduced by Prof. Nanda, Director IIMA during his lecture. In his opinion, if management is to be a profession, it needs to have its own association, cognitive base, licensing and code of ethics, which puts the moral obligation on the profession and to achieve super-ordinate goal, social status, respect, pride, attorney for the nature of work done towards their clients. Ms. Malvika Rai, Chairperson IILM visualizes the way management education would be in future and its impact on us through her article “The Future of B School Education.” Article summarizes the way we need to make students constant learners to acquire new skills, faculty as a mentor to encourage students for self-directive learning, and use of technology in teaching learning.

Published by IILM Institute for Higher Education 3, Lodhi Institutional Area, Lodhi Road New Delhi- 110003 Phone: 011-40934365 Email: edge@iilm.edu Designed in-house by: Rajarshi Bhattacharjee Swati Singh Copyright © IILM. All Rights Reserved

Another article focuses on the “Concept of moksha “for teachers by inculcating values through experiences and innovative techniques of teaching. It was discussed on founder’s day by eminent personality Ms. Nimmi Kanwar. The essence of this issue of EDGE is to inform readers the important aspect of social life either through discussion on issues related to girl child, profession of management or the concept of Moksha for teachers.

International Day of the Girl Child: Six Missions, One voice in support of Women’s Rights.

Con ten t s IN-HOUSE MAGAZINE FOR LIMITED CIRCULATION

10th IILM Distinguished Global Thinker Award

Founder’s Day, 4th Nov 2016 Remembering Dr Kulwant Rai on his 92nd Birth Anniversary

Celebrating the first convocation of the SBS Swiss Business School Graduates at IILM

IILM Celebrating the 21st Convocation of the Post Graduate Diploma in Management Program

Campus News

Marketing Conference Marketing Transition – From Digital Silos to Integrated Teams

Genaration UK- India Short Term Programme

Comprehensive Report of HR Conference 2016, IILM Gurgaon Campus

Global Study

Nonperforming Assets, Indian Banks and the Corporate Debt Market

Formal Degree and Entrepreneurship: Are they complimentary to each other?

Book Review

The Future Of B-school Education

Alumni Profile

International Day of the Girl Child: Six Missions, One voice in support of Women’s Rights. The United Nations declared October 11th as the International Day of the Girl Child adopted by United Nations in 2011. The International Day of the Girl is an opportunity to highlight the needs and rights of girls and to advocate for greater action and investment to enable girls to reach their full potential throughout their lives. Girls face discrimination and violence in many parts of the world simply because they are girls. They face unique challenges such as early and forced marriage, violence, poverty and other barriers. With this perspective in mind, the United Nations declaration is “to help galvanize worldwide initiatives to better the lives of girls, providing them an opportunity to showcase their talents and reach their full potential.” Taking this up at an international level gives it the needed impetus and focus that it deserves. To celebrate this day, IILM Institute for Higher Education proudly hosted a panel the prestigious ‘Chat with Diplomats’ event, on the occasion of the “International day of the Girl Child”, in partnership with the High Commission of Canada.

Diplomats supporting Women Empowerment on the occasion of International Day of the Girl Child The panel discussion was represented by six missions, one voice in support of women’s rights. The esteemed panelists were the Deputy High Commissioner of Canada, Jess Dutton; American Ambassador, Richard Verma; Mexican Ambassador, Melba Pria; Deputy High Commissioner of Australia, Chris Elstoft; His Excellency Ben Joubert, The Ambassador of South Africa and Ambassador of Finland, Nina Vaskunlahti.

Mr. Matt Friesen, Head of Advocacy, Canadian High Commission shared how the Canadian High Commission had organized the campaign ‘Run for Her’ which had more than 400 participants and how they had been looking at creative and innovative ways to celebrate and commemorate the International Day of the Girl since its inception five years ago. As part of this initiative, they had organized a Pan India competition entitled ‘Canadian High Commissioner for the day Challenge’, where Ms. Medha Mishra, an Engineering student from Jaipur who won the competition was honored during the event. Medha underlined her commitment to this cause stating that women ‘can achieve stuff’, in a few succinct words. Post this, Mr Matt Freisen introduced the topic of the panel discussion ‘Glass ceiling or a Sticky Floor’ and invited the diplomats

to express their views. He opened the discussion by pointing out as to women often do not get the same opportunities that men get simply because of their gender. He emphasized the need to wrestle with this issue by asking questions like: why are most of the heads of government men, why are most CEOs men, why are most Board rooms male dominated? He added that women continue to face challenges in education opportunities and in career advancement processes. He indicated how this group, a perfect mix of people from diverse geographical backgrounds and representing both genders, was ideal for initiating such a dialogue. He then invited the diplomats to share their views one by one and moderated the event.

The Deputy High Commissioner of Canada, Jess Dutton, the first speaker of the panel, drew attention to the fact that ‘gender equality is not a just a women’s issue, it’s an issue that’s very important for men as well ’and encouraged everyone to work together to ensure that one day gender equality will be achieved for all. He also emphasized the need to celebrate the achievements in the area of gender equality while simultaneously keeping in mind that there is still have a long way to go. Citing examples from Canada, such as giving parental leave instead of maternity leave and the 50-50 gender balanced cabinet in Canada, he demonstrated the initiatives taken by the government to support this cause. In comparison to corporate Canada 48% of the workforce is women. And almost 1 million are self-employed. However, only 16% of the corporate board seats in Canada are held by women and there is a surprising wage gap in Canada, for every dollar

that a man earns, a woman earns 72 cents for the exact same job, highlighting the difference in pay structure based on gender. Sharing experiences of his mother, he drew parallels with today’s organizations to demonstrate the progress that have been made. He then cited examples from India and commended the fact that India have women fighter pilots in the Indian Air Force and there are several women bureaucrats, business people, journalists, scientists, entrepreneurs joining this list. He made a reference to India celebrating the Girl Child day every year on 24th January. He then juxtaposed with the story of a 15 year old girl from Bihar, with 2 children, abandoned by her husband, who is now attending school in order to complete her education and be and independent woman. Sharing these examples, he encouraged the audience, the future leaders of India to look out for and help such girls, not only in India, but all over the world.

Dr. Anjali Singh with His Excellency Ben Joubert, Ambassador, South Africa

Her Excelleency Melba Pria, Ambassador, Mexico with students

Mr Richard Verma, The American Ambassador, started by expressing his gratitude to the people from his family and on the work front who were his role models and had inspired and influenced him. He specifically mentioned the role his grandmother and mother have played in being mentors for him. He appreciated how these strong women, despite of having difficult circumstances, worked very hard to provide good life and education to their children. Further he highlighted the role of leaders in bringing about gender parity in the economic, legal and political systems. Mr Verma also stated that while holding leadership positions, itâ&#x20AC;&#x2122;s important for the leaders to ensure gender parity and make things better for women to climb up the ladder. He added that education, economic opportunity and a fair legal system are essential to ensure level playing field for both genders. He further reiterated the need to encourage breaking the stereotypes and bringing more people to work for gender equality. He stressed on the fact that women empowerment requires collaborative effort and no one country can work in seclusion in order to achieve this.

His Excelleency Ben Joubert addressing the audience

Melba Pria, the Mexican Ambassador, started her discussion by emphasizing her concern about the need for one day for the Girl Child in the 21st century. She raised questions about how glass ceiling is viewed. The glass ceiling actually the barrier that women face anywhere in the world in their ascending career and Sticky floors mean the downward force that keeps women at middle or low level. She passionately talked about the obstacles that come a women’s way in form of the self-censorship that women are socialized with, the prejudices that women face simply because they are female, the gender based discrimination and sexism that is prevalent. She highlighted that the glass ceiling is a powerful and invisible barrier that hinders the ascending career of women. Comparing the situation in the two countries she mentioned that in though in India 46% of women are highly educated, only 27% of those women are counted as workforce and get paid, whereas in Mexico, 48% of the women are regarded as workforce. She gave figures to driver home her point that though in Mexico 18% are Financial Officers, 14% Corporate Controllers, 12% Chief Marketing Officers, but only 4% CEO’s!. Reflecting on the reasons behind gender discrimination, she shared the Mexican saying that ‘Women usually have three jobs - they are in their jobs 100% of the time they

are mothers and daughters, and then they are lovers and wives, to their husbands’. She highlighted that Canada has 27% of its parliament being women, 48% of the Mexican parliament is women and only 12% of India’s parliament is women. Adding on a lighter note she said, “I wonder if men can say the same thing”. Drawing on the experience of Ms. Bianca Trevino, of being assertive about her right to enter the exclusive club of the Mexican Council for Businessmen, Her Excellency Melba Pria brought out the lack of and therefore the need for more successful women role models for the women workforce to look up to. Citing the McKenzie report she shared how closing the gender gap can help increase the GDP of India by 60% by 2025. Stating that women are the largest untapped resource in the world, she enumerated solutions for dealing with this challenge: Break the political leadership ceiling, and conquer the traditional male associated fields. Mentioning the book Why So Slow, by Virginia Valian she too emphasized the need to acknowledge how far we have come, while being conscious of the way forward. She ended her speech beseeching the audience to be aware that ‘this is not a fight against men, it’s not a fight between men and women, and it is the fight of both genders for equality and fairness’.

His Excelleency Ben Joubert and Mr Jess Dutton with the students of Banyan Tree School

Chris Elstoft, The Deputy High Commissioner of Australia, began his address by sharing that though in his early years when he was growing up, he was not concerned about the ‘He-forShe’ cause. But with the birth of his daughter, there has been a major change in this perspective and now he is very passionate about and engaged with women’s issues. Taking the example of his own eight year old daughter, Mr. Elstoft shared how she believes she is equal to her brothers in every which way, and has the same opportunities that are available to them, but he is deeply aware of the situation that there are differences that exist in society. He added that ‘her safety is not the same as her brothers’, her prospects in the workplace are also not the same. He talked about the initiative that was started about 2 years ago, where they tried to analyze and answer the question as to why, women who constitute 50% of the workforce till a certain level in foreign service drops down to 30-32% by the time thy enter the senior executive rank? What is it about their organization that sees this massive crash in the numbers of women who are entering the leadership cadre? There are a number of tangible barriers that hold women back. One is that foreign ministries in particular struggle with

is because of the demands that are placed on their staff. They staff around from country to country, dragging their families’ with them, which becomes difficult for women whose husbands are unwilling to move for their wife’s career, the way promotions and recruitments are done, and some issues around culture. To help women reach higher leadership roles in the organization, a number of changes have been introduced, such as making the workplace more flexible, enabling part time work, working from home, remote work, using IT solutions to facilitate people being more productive but also being able to balance work and family to name a few. Above all, he emphasized that they are trying to drive a more inclusive style of leadership culture throughout the department. He ended by saying that having a parity of genders in organizational leadership is not only the right thing to do but it is also the smart thing to do.

Dr.Sangeeta Chopra presenting the caricature to Her Excellency Melba Pria

His Excellency Ben Joubert, The Ambassador of South Africa started his talk by acknowledging the major role women have played in attaining freedom as well as being the real democracy in South Africa. After their constitution got signed in 1996, there was a law passed which stated equal opportunities or equal employment. Those are affirmative laws which give specific allowance for 50% of women in workplace. South Africa is a country which gives lot of attention to issues of women and child rights, there are many initiatives when it comes to that, one is celebrating their women’s day on 9th August every year. This day was specifically chosen because of the march of the women 60 years ago. At the same time he expressed his concerns regarding the fact that despite having various laws on paper, women were unable to get equal opportunities. He also mentioned various initiatives started by their Government in order to facilitate women empowerment but at the same time, he criticized the need to have so many initiatives even today, in order to get women on equal pedestal with men, he said- “when we look at these initiatives they are there because women are not in a place where they need to be in society and workplace. If you have more initiatives it means you have more serious challenge to address.”

Mr Jess Dutton with Mr Anil Rai and Mr Bhaskar Chatterjee, Senior Director IILM

Nina Vaskunlahti, The Ambassador of Finland, emphasized the need for a higher women representation in their political arenas because of the different perspectives that women add. She shared that in Finland, approximately half of the members in Finnish Parliament are women and they actively work along with their male counterparts in organizing political events. Ms. Vaskunlanhti stressed on the fact that women empowerment is not sole responsibility of women, it order to achieve equality, men need to be active members of the same. She also mentioned the importance of having role models and gave example of Finnish Defense minister- “In 1990 Finland got its first Defense female minister, she was first female defense minister in the whole world. A finish minority made it even more interesting. It was position taken by minority. So breaking the glass ceiling twice. First coming from minority then being a women and she did a pretty good job as minister of defense and she also opened possibilities for girls to enter military services until then it was a profession compulsory for boys but then it became sort of possibility for girls”. In conclusion she advised, “To be bold, to be brave, to be themselves” in order to break the glass ceiling.

All the panelists spoke about how important it is to invest in the education of the girl child, because when they are educated, healthy and informed they not only empower themselves, but also their families and the communities around them. The issues ranged from education to reducing gender disparity and increasing women involvement in leadership roles across organizations and politics. This initiative is a small step in this direction. The event ended by Dr. Bhaskar Chatterjee, Senior Director, thanking the panelists for sharing their views on a subject that is relevant to all people and all geographies. He briefly talked about IILM’s contribution towards responsible management. He shared that IILM offers 10% fee waiver to all its girl students across its three campuses in Delhi NCR and offers flexible work arrangements to all women employees. IILM Institute is a member of the United Nations Global Compact Initiative “PRME” and has earned the coveted ‘Champion Business School’ status. It has a global study programme which connects its students and faculty with institutions of repute in Germany, France, Spain, Canada, the United Kingdom and Switzerland. The evening ended with informal interactions between Diplomats and the students and faculty of IILM over high tea, leaving us all motivated to take this cause forward.

10th IILM Distinguished Global Thinker Award

The 10th IILM Distinguished Global Thinker Award was conferred on Prof. Ashish Nanda, an eminent academician and Director, Indian Institute of Management, Ahmedabad. The Award was presented to Prof. Nanda by Mrs. Malvika Rai, Chairperson, IILM. Prof. Ashish Nanda has a Ph.D. in Business Economics (Harvard), AM in Economics (Harvard), PGDM in Management (IIM Ahmedabad), and B.Tech in Electrical Engineering (IIT Delhi). Prior to his doctoral studies, he worked for five years with the Tata group of companies as Tata Administrative Services officer. A recipient of the Henry B. Arthur Fellowship, the Harvard University Center for Ethics in Professions Fellowship, President of India Gold Medal (twice), and the IIM Director’s Gold Medal, he has published several case studies and Harvard Business Review articles. He taught at the Harvard Business School and Harvard Law School for 20 years and has advised numerous professional services companies. While accepting the award, Prof. Nanda, expressed his gratitude with generosity of spirit and warmth and thanked IILM for conferring this award. Welcoming Prof. Nanda, Professor Rakesh Chaudhry, Senior Director IILM, shared that IILM launched the Global Thinker Award in 2006, to celebrate and honor those distinguished individuals who have contributed substantially to the global stream of consciousness, ideas, and knowledge, and have made a significant difference in the national and global community. In the lecture delivered on ‘Profession of Management’, Prof. Nanda, spoke about management as a profession and explained the meaning of the word profession which means Profess, i.e. “making a claim or commitment to a super-ordinated goal.” He brought up whether like any other profession- legal, medical and military, the management profession too needs to take a vow to serve their clients’ interests and always keep the clients interest above their own. He emphasized that the necessity to vow is paramount as input and output of the services rendered by the professionals are not verifiable or measurable by their clients.

Prof.Ashish Nanda lighting the lamp

He wondered if the management can be called as a profession. In his opinion, if management is to be a profession, it needs to have its own association, cognitive base, licensing and code of ethics, which puts the moral obligation on the profession and to achieve super-ordinate goal, social status, respect, pride, attorney for the nature of work done towards their clients. Thus, it becomes imperative for the

management professional to take a vow to achieve superordinate goal that would serve the best interest of his client. As per Prof. Ashish Nanda, “I am extremely honored by the generosity of the spirit. I just feel that I have had a very fortunate life and opportunities have opened up at various points and it’s been a wonderful journey so far and I hope that it continues to be productive and good journey. I am going to talk on the subject of ‘Profession of Management’. People have often used the term Professional Managers and the term is used very often to distinguish managers from promoters or owners of family business. That’s the way people call it, they say professionalization of firms / professional managers. In casual usage, it is supposed to be people who are in management positions, who are not entrepreneurs or not in family owned business. But if you go to a student in the field of Sociology, he would say that word profession means ‘Sociology of Professions’, so the question here is - Is management truly a profession? Should it be a profession? I am going to say a few words on that.

Profession has two kinds – true professions and free professions. True professions are the kinds where actually there is an organization, there are some goals, you take a vow, and these are military organized religion. Free professions are where actually you do take a vow; you also have commitment to something super ordinate goal but you can be in multiple organizations, for example, super ordinate goal a military person commits to is national well-being. What a professional does is he provides service to those he is serving and the service is very valuable and this service arises out of capabilities these people have developed after years of training and development. So there is a great deal of knowledge that goes into delivery of service. Think of a Heart Surgeon for example, when a heart surgeon is operating, he has worked for years on a body of knowledge and training and the service he is pro-

viding to you at that time is extremely valuable. These are the two characteristics that together determine who are professionals. One of the challenges is that the work the professional is doing, it is very difficult for the client to judge the input and the quality of output because both are non-measurable. It is not possible for client to actually make sure that the professional’s interests are aligned with the client’s interests. What Professionals do is they take a vow to become professionals. In many countries, you do not become a lawyer by just passing LLB, you actually have to join the Bar Council to become a lawyer and part of joining the bar council is to sign a vow so there is something that you profess when you become a lawyer or a doctor or any other profession. Vow has the same characteristics. The vow is I promise to fulfill my client’s interests ahead of my own interests. If your client believes in your vow, then they will trust you to do the best for them. Now, who makes sure that you are actually following your vow, your own fellow practitioners do it.Another

Mrs.Malvika Rai conferring the 10th distinguished Global Thinker Award on Prof.Ashish Nanda, Director IIM Ahmedabad very interesting characteristic of professionals is most professionals have associations for example, bar association, medical association. The reason those associations exist is they promise to society we will make sure that people who join our professions they take the vow and we will monitor ourselves carefully, in return for that promise society gives two very powerful rights – right of self-certification – accountants decide who will become an accountant, lawyers decide who will become a lawyer. Second right they get is one of self-discipline. They themselves decide who has broken the vow and will be punished. So what happens in the profession is Professionals make a promise, society trust them, they have an association which make sure that you hold true to promise and if associations work well, we will give you the autonomy / freedom. For management to be a profession (many of us say management is a profession), it requires managers to take a vow to do things in the best interest of their clients. This is a challenge – managers will say who is my client, I have stakeholders – customers, employees, owners; theory of multiple stakeholders is applied here. Agency theorists will say that managers exist because owners tell them to run the enterprise on their behalf’s so their clients are the owners. So managers have to take a vow that they will act in the long term interest of the owners. If management is a profession what do managers commit to, what is the super ordinate goal? I think what managers can commit to is efficiency, if we have that spirit in managers then perhaps we can say that managers are professionals. There has to be an association of managers that can evaluate how the managers are doing, whether the resources are being effectively used.

Are we anywhere close to that in Management? Overall my answer is No. For management to claim that we are professionals this is what is required, not just saying that we have MBA degree, we become professionals. If they try to maximize personal returns, it reduces the possibility of becoming professionals. What helps managers being treated as professionals when they are investing for long term returns, building the assets for organization? Second thing that will make a big difference is more and more human capital in intangible assets becomes a part of the equation. So, where do I see this leading, I think technical education in skills of management has made MBA degree very attractive. There will be some institutions which emphasis to their students on their responsibility, try to have them build a sense of commitment to the super ordinate goal. Over a period of time, people coming out these institutions will be able to deliver better results and out of this category the profession of management will emerge.” Dr. Smitha Girija, Director, IILM, thanked Prof. Nanda and the distinguished guests. The award ceremony closed with the singing of National Anthem.

Prof. Ashish Nanda with the students of Banyan Tree School

Founder’s Day Celebrations @Banyan Tree School, Lodhi Road -

The air was filled with joy and nostalgia as the students of Banyan Tree School and members of the IILM family came together to celebrate the 92nd birth anniversary of Dr. Kulwant Rai, the founder and chairperson emeritus of the institutions. Founder's day 2016 was celebrated with much enthusiasm in the school. The day began with a school assembly where the Head Boy and the Head Girl shared the vision of Dr. Kulwant Rai with the students. Tribute was paid through a Saraswati Vandana and the shloka chanting. The students were given a chocolate each while returning to their classrooms. To add fun and excitement to the day, Spectrum was organised where each child participated in an activity of his/her interest and showcased their talent.

ucation to all. His endearing quality of welcoming everyone with a smile spread positive energy everywhere. The faculty remembers him as a ‘visionary’ who guided all with his innovative thoughts and ideas.

A special programme was organised in the auditorium. Smt. Nimmi Kanwar was the guest of honour. The programme started with the lighting of the lamp accompanied with shloka invoking the blessings of the Almighty.

The guest of honour Smt. Nimmi Kanwar, a Bal Vikas Guru and close family friend who has had a long association of working alongside Dr.Kulwant Rai. Ms Nimmi Kanwar, esteemed guest of honour, for the day remembered him as one of the pioneers in establishing educational set up with the motto- ‘Let each child excel in his/her own way . She shared her memories of her association with the journey of Banyan Tree School over the years. In her message she asked all to fulfill a dream in their lifetime the way Dr. Kulwant Rai had achieved.

Mrs Ranjana Negi, Principal Banyan Tree School, Lodhi Road in her welcome address paid tribute to Dr. Kulwant Rai. Welcoming all on the 92nd Birth Anniversary of Dr. Kulwant Rai she mentioned Dr. Kulwant Rai's abiding passion for education and his vision to take ed-

The students at Banyan Tree School, Lodhi Road put up a spectacular cultural event to pay tribute and honour his Vision.The celebrations included a heartwarming performance by the tiny tots invoking the blessings of Lord Ganesha and hailing his auspicious presence through a dance.Krishna Janam leela was displayed through a soulful and graceful Kathak performance. Indian Music choir paid tribute by singing Bhajansclose to Dr. Kulwant Rai’s heart.

At a time when establishing schools was not a foremost endeavour for many Dr. Kulwant Rai was one of the few visionaries who decided to take education to all and for all. Smt. Nmmi Kanwar shared how Dr.Kulwant Rai encouraged everyone and his involvement and participation in every programme that were put up in school and also events organised by Sri Sathya Sai Organisation. She recalled his work in setting up the Roshini Rai School for the under privileged and her own days of having participated in the school activities as a Bal Vikas Guru. Smt Kanwar emphasised Dr Kulwant Rai’s generosity, and humility for the less fortunate and how this touched every one he met.

Her message to the faculty was very beautiful. She said that a teacher attains ‘moksha’ by just deciding to be with and working for the well being of the students. She mentioned that the educators are blessed with values and through their experiences and innovative techniques of teaching they have achieved true ‘moksha’. She further guided the school to involve the bal vikas principles and imbibe moral values. The programme closed with the chanting of Om Sai Namoh Namah’, and paying tribute to Dr. Kulwant Rai for his remarkable leadership, integrity, deep devotion and magnificent generosity which we all acknowledge with profound gratitude and respect.

Dr Nimmi Kanwar, Chief Guest addressing the students

IILM Celebrating the 21st Convocation of the Post Graduate Diploma in Management Program IILM has been a pioneer in offering management courses for both the undergraduate and post graduate programs. Established in 1993, IILM offers the AICTE approved Post Graduate Diploma in Management at its three well-located campuses in the National Capital. The curriculum at IILM imbibes the best aspects of courses offered at top business schools around the world. The modules are inspired by the Wharton Business School, the Harvard Business School, the Yale School of Management and the IIMs. They aim at combining theory with practical training so that students are capable of turning concepts into understanding, knowledge into action and ideas into innovation. With over 20 years’ experience in training future entrepreneurs and managers, IILM is proud to have 9000+ well placed alumni in top companies in India and abroad. IILM offers a wide range of Executive Education Programmes on various platforms. IILM has organized Training programmes for IAS and IPS officers for over 10 years. IILM has also been conducting customized Training programme for leading PSUs like NTPC, NBCC, BHEL, and EIL. IILM also offers specialized programmes for Defence

Ministry’s Directorate General of Resettlement for defence officers. IILM has recently partnered with Indian Institute of Corporate Affairs to jointly conduct programmes for Government officers and executives of PSUs and corporates. IILM Startup Labs has been launched to support and bolster a start-up company’s creation and activity in the early stages before it becomes self-sustainable. Through the incubation initiative, IILM aims to provide an environment where students and entrepreneurs get full IILM support to set up new ventures.

Dr. Jyotsna Suri

IILM has partnered with the Dortmund University of Applied Science and Arts, Germany for the Masters in International Business - Managing Diverse Markets Programme. The MDM programme has been a great learning for our students in terms of an international educational experience, exposure and adapting to and managing cross-cultural differences. According to the EdUniversal rankings of best business schools in India, IILM has been ranked 11 (3 Palmes of Excellence category) for 2015. Headquartered in Paris, EdUniversal is a global ranking and rating agency specializing in higher education.

Dr.Jyotsna Suri delivering the graduation speech

21st Annual Convocation - 2016

industry.

The 21st Convocation of IILM for the Class of 2016 was held on May 4th, 2016 at its Lodhi Road, New Delhi campus. The ceremony started with the lighting of the lamp by Dr. Jyotsna Suri, Chairperson The Bharat Hotels Limited and Mrs. Malvika Rai, Chairperson, IILM. One hundred and sixty-seven students completed their post-graduate studies at IILM in 2016 and received their diplomas at the Convocation.

Dr. Jyotsna Suri’s speech: Faculty members, proud parents and graduating students. I am truly privileged to be here for 21st convocation of IILM. Thank you all for inviting me for this very special occasion. IILM is one of the leading business schools in India offering Undergraduate and Post Graduate programs in Management. I believe the focus is to develop students as globally aware members of society who are also responsible business leaders. The initiative to encourage student from Jammu & Kashmir and North East by offering them 25% scholarship and 10% scholarship to every woman student is highly commendable. I am also delighted to know that there are 71 girls out of 167 students that are graduating this year. My complements to the founders and of course the current promoters and management of IILM. Please keep the good work as you are doing. Heartiest Congratulations to you all. Young ladies and gentlemen, in the depressed global scenario India stands out as a bright spot. The Indian economy is growing at 7.6% and will continue to do so in the future. Historically, India is one of the oldest cultures but demographically it is the youngest nation. About 60% are below the age of 30. India with its 29 states and 7 union territories has both the demand and supply therefore its economy will continue to grow. The services sector is doing fairly well. The governments imitative of ”Make in India” is giving a boost to India’s sluggish manufacturing sector. The Prime Minister’s call of starts up INDIA is aimed at you and he is also providing his favorite platform to all the new young entrepreneurs like yourselves to come forward. As you graduate, therefore there is a huge opportuni-

At IILM, placement is on high priority. In order to achieve this objective, IILM has introduced four placement weeks throughout the year. The Career Development team conducts continuous workshops to get the best internships. IILM acknowledged the summer internship projects of the students and awarded them with certificates. The best three summer internship projects from all three campuses were selected on the basis of the quality of training in job, passion, persistence and sincerity towards SIP. Dr. Smitha Girija, Director, IILM welcomed the Chief Guest, Dr. Jyotsna Suri, Chairperson and Managing Director of Bharat Hotels Limited that runs the luxury hotels chain “THE LALIT” under the Lalit Suri Hospitality Group. In the past few years the Group has won a number of awards for its outstanding performance. Dr. Jyotsna Suri was President of FICCI for the year 2015-16. She has been listed amongst the Top 50 Business Power Women in Asia by the Forbes Asia and amongst the Top 20 Most Powerful Woman in Indian Business by the Business Today. She is the only Indian member on the International Executive Committee of the World Travel and Tourism Council (WTTC). She has also received an Honorary Degree of “Doctor of Laws” from the University of Warwick, UK for her contribution to tourism

The graduates with their faculty members ty waiting for you. Some of you may join established or establishing firms. Some may add value to existing family businesses and some may become entrepreneurs who will not only sustain themselves but also offer employment to others. So young ladies and gentlemen while it is extremely important to generate success and wealth, we must not forget the core value of humanity. Let me give you a fistful of values • Honesty and Integrity • Respect for individuals • Responsible communication • Devotion to duty • Minimize wastage As you move on in your life, please keep the honesty and integrity alive in you. You must respect all the individuals, their faith, their beliefs, their backgrounds- each one has to be respected. Your communication to each other, to the outside world must always be responsible. And as you move on, whatever you may do, whichever genre you may fit yourself in, whichever company you may join always have the devotion to duty and minimize wastage. Wastage of natural recourses, wastage of water, wastage of food but most importantly wastage of time. Don’t waste your time on activities which are not going to bear any positive results.

Remember the moment gone by is never going to come back so make the most of the time you have. Now with that fist, which is very powerful, along with it I offer you my good wishes. As you step out into the world to establish yourself, do your parents, your country, your planet proud. Good luck to you. Namaskar. Dr. Smitha Girija, also welcomed Mr. Kapil Chanana, IILM’s alumni from the first batch, batch of 1996. Mrs. Malvika Rai presented an award to Mr. Kapil Chanana, General Manager, Activation, Coca Cola India Private Ltd. The Chief Guest, Dr. Jyotsna Suri and IILM Chairperson, Mrs. Malvika Rai then presented Gold and Silver Medals to the toppers of the three campuses. IILM honoured six faculty members with the “Excellence in Teaching” Award. The six faculty members who received this award are: Prof. Vinay Chirania, Prof. Ruchi Shah, Dr. Shivani Khurana, Prof. Raju Majumdar, Prof. Shweta Sharma, and Dr. Preethi Srinivas. The convocation concluded with the National Anthem.

Class of 2016 20

Celebrating the first convocation of the SBS Swiss Business School Graduates at IILM

IILM, a forerunner in offering international undergraduate education programs in India since 1996, achieved a milestone on September 21st 2016, conferring the first batch of students the Graduate Degree - BBA in Entrepreneurship of SBS Swiss Business School. It was indeed a proud moment for SBS Swiss Business School, as well as for IILM to see their students, dressed in ceremonial robes, eager to receive the Degree. The convocation ceremony was held at the Lodhi Road Campus at 3.00 PM. The proceedings started with the arrival of the Chief Guest, Prof. Bert Wolfs, Dean, SBS Swiss Business School.

the beginning of the Convocation. The Dean took the permission of the Chief Guest to declare the convocation open. She welcomed and introduced Prof. Bert WolfsAcademic Dean, SBS Swiss Business School. Prof Wolfs is a PhD, MDP (Harvard Graduate School of Education) and a founding member of SBS Swiss Business School and holds the position of the Academic Dean and DBA Program Manager at the institution. Dr. Wolfs is also a lecturer on SBS educational programs with a special

Prof. Bert Wolfs, Academic Dean, SBS Swiss Business School addressing the graduating batch The academic procession comprising the Undergraduate Faculty Members was led by Dr. Anjali Singh, Dean of the Undergraduate Business School (UBS). Recitation of Saraswati Vandana by the students of Banyan Tree School and lighting of the lamp by Prof. Bert Wolfs, Mrs. Malvika Rai (Chairperson of IILM), Dr. Shuchi Agrawal (Director UBS), Dr. Anjali Singh and Ms. Izabela Karanfiloska, (Program Manager, MBA, SBS Swiss Business School) marked

interest in entrepreneurship and e-commerce and holds the Albert Einstein Peace Award from IAEWP. Furthermore he is a certified lecturer of Swiss Vocational Education Training (VET) students. Dr. Singh also introduced Ms. Izabela Karanfiloska, Program Manager – MBA, SBS Swiss Business School. Dr. Singh also welcomed the graduands, parents and other guests. In her address, she declared that graduation ceremony of the Bachelors of Business Administration (Entrepreneurship), SBS Swiss Business School marked an occasion of great honor and pleasure. This was followed by a special Address by Ms. Izabela Karanfiloska who began by congratulating all the graduands. She emphasized that the Convocation Day stood as a moment of great pride for the students, and was an emblem of the successful partnership between IILM and SBS Swiss Business School. In her encouraging words, she said that it was now time for the students to apply everything they had learned and acquired during the course of three years on Campus in their real lives. In her brief speech, she enthralled the students by saying that it was now their time to achieve everything they wanted to. She ended her speech by wishing success to the students for the next phase of their life. The Dean then presented the candidates from IILM - the Undergraduate Business School to be admitted to the degree of Bachelors of Business Administration in Entrepreneurship, announcing the names in alphabetical order. The Degree was handed over

to thirty qualifying graduates by the Chief Guest, and the candidates who could not receive the Degree in person were conferred the Degree in Absentia. The Chairperson, Mrs. Malvika Rai was requested to give away the medals and certificates to the meritorious students as follows:

• Dr. Kulwant Rai Gold Medal for securing first position was awarded to Priashna Singh. •

Dr. Kulwant Rai Silver Medal for securing second position was awarded to Nikhil Ku mar.

•

Award of the Special Prize for the Best The sis was conferred upon Shitiz Garsentia. After the award ceremony,

Dr. Shuchi Agrawal delivered her Address. She initiated her discourse by acknowledging the importance of this first Convocation of SBS Swiss Business School’s graduates, which marked a flagship point in the School’s and IILM’s partnership. Considering the boom of ‘Make in India’, the SBS Swiss Business School’s curriculu aims to nurture innovative thoughts and actions from the students which may help them develop their family businesses or to grow as entrepreneurs themselves, thereby carving new heights of success. Dr. Agrawal mentioned that IILM Startup Labs have been incorporated to support and bolster a start-up company’s creation and activity in the early stages before it becomes self-sustainable. Early facilities and access to an exceptional Eco System consisting of Renowned Mentors, Industry Experts, Serial Entrepreneurs, academic/ Experts and Investors

form the potencies of the IILM Startup Labs, which aim to provide an environment where students and entrepreneurs feel that their experience with IILM is most productive and inspiring.

IPS officers for over 10 years, and has been delivering customized Training programs for leading PSUs like NTPC, NBCC, BHEL, EIL and for Defence Officers. This stands as another proud moment for IILM.

Dr. Agarwal also talked about the proud opportunity which IILM got by inviting Mr. Naveen Jain, who was awarded the IILM Distinguished Global Thinker Award to interact with the students. Mr. Jain is an exceptionally successful Silicon Valley entrepreneur and a billionaire, and he delivered a Lecture on “Using Innovation and Entrepreneurship to Solve Humanity’s Big Challenges. The Institute has been organizing Training Programs for IAS and

Congratulating the fresh graduates and their proud parents, Dr, Agrawal mentioned that the Convocation Day marks a transition phase in their lives, and they should capitalize by taking stock of the past and assessing the bright future that lies before them. In her inspiring words, she mentioned “In every ending is the challenge of a new beginning. Your future is without doubt bright” She also encouraged the students to take pride in our rich

socio-cultural heritage and use both modern and traditional knowledge to arrive at innovative solutions to some of our pressing societal challenges. In her concluding note, she acknowledged and expressed her gratitude for the commitment displayed by all the Faculty Members and her colleagues, who have been serving not only as teachers, but also as mentors to the students, for shaping the students wonderfully. She also thanked the Staff who work throughout the year to support the smooth functioning of the administrative and academic processes. In the end, quoting legendary words of Rabindranath Tagore ‘jodi tor daak shune keo na

ashe, tabe akla chalo reâ&#x20AC;? she exhorted the audience to be honest and bold, and to believe in themselves to find that the world is at their feet. This was followed by the Graduation Address by Prof. Bert Wolfs. Congratulating the graduands, he honored them for their achievements in the realms of scholarship, leadership and character. He mentioned that their degree makes them a member of a special family and special society. Citing Ralph Waldo Emerson words â&#x20AC;&#x153;the reward of a thing well done is to have done itâ&#x20AC;?, Prof Wolfs mentioned that any form of recognition is not to be accepted but definitely to be enjoyed. He, then, thrived the students to not be complacent with their current achievement but to continue to strive towards even loftier goals.

The Professor stated that the students had excelled in scholarship, leadership and character, which were not random choices, but formed the essence of a fulfilled and fulfilling life. He encouraged the students to embody a positive attitude backed by purpose. And the only way, he underlined, was to take a small step in the direction every day. He inspired the students to cultivate leadership qualities over their lifetime, since leadership is an attribute which is not taught, but comes from within and continues to manifest itself even in the face of oddity. He encouraged the students to find a purpose, a vision, and a mission as an entrepreneur and follow that purpose to get the ends they desired. He reiterated that persistence matters, which along with a positive attitude makes the essence of a

Parents at the graduation ceremony

true leader. Prof Bert also emphasized that the goal of a true leader is not to get power, but to achieve the vision. Quoting Thomas McCaully, “the measure of a man’s real character is what he would do if he knew he would never be found out” Prof Wolfs mentioned that our daily choices and decisions reflect our character. Being honest and honorable while others are watching, is important. However, he remarked, it is more important to be true to oneself as at the end of the day, these private day to day decisions eventually reveal an individual’s character to themselves and to the rest

of the world. Prof Wolfs infused the thought in the graduands that it is only by setting difficult goals as entrepreneurs and achieving them that they can find their true self-worth and satisfaction. Stating that each person’s goals are different, and what comes easily to one person might be difficult for another, he advised the fresh graduates not to squash others’ dreams and to instead work towards achieving their own goals. He guided the graduates to remain curious, open to learning, open to other cultures and diversity for the rest of their lives. He added that with diversity and sustainability they will

have a winning edge. Closing his speech, he congratulated all the graduates for this honor. The Dean, IILM UBS then sought permission from the Dean, SBS Swiss Business School and declared the ceremony closed. The audience then rose for the National Anthem after which the Academic Procession and the fresh Graduates assembled for group photograph. All Graduates, parents and other invitees were welcomed to partake of high tea, during which the Management, the Director, the Dean and all the Faculty Members interacted with one another and shared.

Marketing Conference Marketing Transition – From Digital Silos to Integrated Teams The 2016 IILM Marketing Conference on ‘Marketing Transition – From Digital Silos to Integrated Teams’, held on 23rd of August, 2016 at the Lodhi Road campus, was a great success. The objective was to connect industry practitioners, digital marketing enthusiasts and all stakeholders in organizations, to serve as a springboard for sharing the digital marketing initiatives and best practices. With the evolving online behavior of the modern customer, digital marketing is the mantra for the modern day businesses who wish to acquire, connect, engage and retain their customers through various digital platforms and communication channels. Ms. Babita Baruah, Senior Vice President & Head PO1 Unit at J. Walter Thompson, India, commenced the session by talking about how Digital Marketing has transformed the way marketing works. She underlined the necessity to trigger “a feeling in the consumers” in order to make them buy a product and explained how Digital Technology can help achieve this. Mr. Aman Mishra, Director Strategy, Havas Media India and Mr. Deepinder Singh, Head Strategic Unit National e-Governance Digital India, Govt. of India then discussed the relevance and application of content driven marketing. Touching upon terms such as ‘subliminal content’ and ‘calibrated communication’, they emphasized need for byte-sized advertising content to create connect with the audience.

Mr. Ankit Warikoo - Founder & CEO, Nearbuy, Mr. Nitin Bhatia - Director & Founding Member of the Indian operations of Meltwater Group and Mr. Biraja Swain – Chief Growth and Innovation Officer, Neo Ogilvy enlightened the audience about mobile and location based marketing. They demonstrated how location based services (SoLoMo) have changed the use of a mobile phone from a tool for communication to an all-round tool for shopping, ticketing, socializing… Students from all three NCR campuses attended the IILM 2016 Marketing Conference and interacted actively with the panelists and speakers. The conference was well appreciated by students as well as faculty.

Comprehensive Report of HR Conference 2016, IILM Gurgaon Campus Empowering HR through Technology: A way forward Report Compiled by: Dr.Pinky Goswami & Mr. Shiven Singh Choudhry PGDM Term IV

Mr.Kamal Singh, Director General, National HRD Network lighting the lamp

IILM Gurgaon organized a National Conference on 'Empowering HR through Technology: The Way Forward' on September 30, 2016. Through this conference it aimed to create a platform where HR professionals could share their insights on the sweep of technology in the area of Human Resource. The world of human resources has experienced something of a revolution over the last decade. Much of that change is due to advances in technology and the opportunities found when hiring managers began embracing the Internet as a new tool in their toolbox rather than just an interesting way to pass the time. The World Wide Web has forever changed the way we do almost everything — and change is good. Change is the only constant force in this dynamic and competitive world. The conference was a conﬂuence of corporate speakers and academia experts to merge the practical and the theoretical spectrum together. The sessions were power packed with the theme to bring forth the clarity of concepts and actionable steps for the audience. The Objective of the conference were 1.To advance the ﬁeld of HR by incorporating latest technology leading to increase in productivity. 2. Removing human biases through technology in HR practices, increasing value for the organization. 3.Recruiting employees, engaging employees, acquiring talent, retaining employees, optimizing employee performance through technology 4.To understand the ethical value of social media in

HR practices. There were 3 sessions. The conference began with lighting of the lamp by our Chief Guest Mr. Kamal Singh Director General National HRD Network and Mr. Kaustav Mitra Director Xecute HR solution and Dr. Sujata Shahi Senior Director IILM Gurgaon campus. Dr. Sujata welcomed the guests and all the participants of the conference. The theme of the conference was introduced by Dr.Pinky Goswami. In her speech, she stressed on the importance of transition in HR keeping up to the requirements of the Millennial, “A generation born to the digital world”. Dr. Kaustav Mitra gave the keynote address and talked in detail about the changing nature of HR in all its functions. The plenary session members were, Ms. Vishwapriya Associate Director HR PWC,Mr. Manish Anand– (Vice President IT Max Life Insurance) and Mr. Raj Nehru (Director HR Schneider Electricals). All the plenary speakers gave very interesting presentations about the new age HR and the way it has got about the multi faceted changes impacting an entire organization. It was well appreciated by the participants. The moderator of the plenary session Dr. P.Goswami summed up the session along with a Q&A round. Session 1: Driving Employee engagement with modern HR Technology The global forces are reshaping the workplace, the workforce, and work itself., executives see a need to reinvent a new design of the orga-

Gupta (Founder of Innokreat which provides customised Employee Wellness and Analytics Software Solutions to HR) Ms. Shyana Mehta(Student of PGDM Term 4) and Mr. Asif Mir Shabbir (Student of PGDM Term 1). The session moderator Prof. Richa Bhargava finally opened the session for the participants to put up questions to the speakers.

nization. Four powerful forces—from demographic upheavals and the rise of digital technology to rapid business-model innovation, and socially driven evolution in the employer-employee relationship—are driving change for both HR functions and the organizations they serve, creating talent challenges and potential solutions radically different from those faced by previous generations of leaders. The speakers for the session was Mr. Debabrata Bannerjee (VP Enterprise Business Application Apollo International) Mr. Kishore Das (HR Advisor and Consultant DCM ) Ms. Pooja Goswami ( Head- People Function HR EKO India Financial Services ) Ms. Prerna Kapoor(Sr. Manager Compensation & Benefit – Pepsico) Ms. Sukanya Devi (Student PGDM Term 4). The moderator for the session

Session 3: Recruiting Talent through social media and ethics of social media: A look into the challenges and downside Every month million people use Twitter, Instagram and Facebook. Such social platforms, with the largest audiences available. Recruiters are increasingly turning to the social web to market their companies to job seekers and to screen prospective employees. Is the use of social media an ethical form of screening for recruiters to use, or are they taking candidate research too far and invading their privacy? Recruiters may argue that social media is a public platform, unless the candidate makes it otherwise, and that it's their own choice to share the content that is available to anyone who searches for it. This session discussed the challenges and downside. The speakers

Session 2: Managing People Performance through HR Analytics The working e nv i ro n m e n t is increasingly becoming very complex and ambiguous. This has put human resources into a challenging situation in terms of making definite decisions in the workplace. HR has to look constantly at new tools for making risk free decisions, and this is where the help of HR analytics comes in. HR analytics is the use of statistical methods like factor analysis, correlation and regression and making use of different sources and variables to arrive at meaningful insights. It helps HR understand the dynamics in the workforce. The speakers for the session were Ms. Neeti Kumar (Manager HR Xceedance) Ms. Manu

for the session was Mr. Mayank Arora(Cargill Hr Head),Mrs. Malbika Bose(Black Barry- HR head) Mrs. Arti Kohli Ashwani(Bausch&Lombs HR head)Ms. Sonam Yadav (Student of PGDM Term 4). Prof.Ruchi Shah the moderator of the session summed up the session discussion on the positive and negative influences of social media in the HR sector. The conference concluded with a vote of thanks by Prof. Shivani Ahuja.

Faculty Article Nonperforming Assets, Indian Banks and the Corporate Debt Market

It was a well known fact that Indian banks were sitting on a stockpile of bad or doubtful debt. Exactly how big are our bad debts? The Economic Times (dated 21st Feb, 2016) reported that for every Rs 100 parked in shares of public sector banks, investors carry the burden of Rs 150 as bad loans, which have cumulatively ballooned to Rs 4 lakh crore or 1.5 times the market value of these lender banks. Compared to this, bad loans of private sector banks are just about 6.6 per cent of their total market value! The report went on to state that if one takes into consideration loans/assets in the books of banks that face the risk of being declared non-performing, then the picture is even more grim, and would amount to almost double the amount mentioned. This situation did not happen all of a sudden; the beginning may be traced back to 1969. Democracy got its own challenges and for years Governments treated these institutions as their extended arms and used them for populist measures. The banks themselves were engaged in volume game to bloat their balance sheets with ‘assets’ and appease their promoter. This started way back ever since nationalisation of these banks happened in two stages (beginning 1969). Public sector commercial banks competed on the basis of total business and with little concern on the quality of assets. And it just got worse over time. Consider the statistics; gross non-performing assets just before the global financial crisis of 2008 stood at Rs 53,917 crore, by September 2015 it has grown to Rs 3,41,641 crore! The Reserve Bank of India, defines a non-performing asset as, ‘an asset, including a leased asset, becomes non-performing when it ceases to generate income for the bank. A ‘non-performing asset’ (NPA) was defined as a credit facility in re-

spect of which the interest and/ or installment of principal has remained ‘past due’ for a specified period of time’. NPAs are however largely an accounting issue, the real challenge lies underneath in distressed projects that were financed by these loans and whether these projects remain viable any more. The story is all too familiar and too repetitive in manner; in periods of economic prosperity businesses expanded capacity largely riding on cheap bank credit. High demand generated enough revenues to pay off debt service charges and given the tax benefits associated with debt, corporate profits soared favorably affecting value and debt-capacity. However when growth slipped, demand faltered and prices crashed, these projects could no longer generate enough cash flows that would allow them to pay off their lenders (read banks); the ‘dark side’ of debt hogged the limelight. Such is inevitable when banks target ‘volume of lending’ rather than ‘quality of the borrower’ or the ‘quality of asset created’. A couple of pertinent question to ask here is, how did banks manage to get exposed to the corporate sector to this extent? And did banks turn a blind eye to borrower’s quality or they were simply ill equipped to assess them? The answer to the first question lies in the under developed nature of the Indian corporate debt market. As on date the corporate bond market is only around 14% of gross domestic product (GDP) compared to bank assets (89% of GDP) and equity markets (80% of GDP). In its current state, inadequate infrastructure, illiquidity, regulatory gaps, limited investor and issuer base, and absence of benchmark yield curve across maturities has resulted in the market being a club of highly rated financial and public sector enterprises issuing plain vanilla instruments, where trading dries up within a few days of issuance. Consequently, the pivotal role that the debt markets can play in financial resource allocation, resolving agency issues and problems of information asymmetry remained a far cry. And financial resource hungry borrowers flocked to banks, which were all too eager to reach their volume targets and facilitate the mandate of the ruling dispensation. Consequently, bank exposure to corporate lending increased to alarming

levels. Recent date compiled by the Reserve Bank of India suggests that the cumulative outstanding amount on account of 39 large corporate borrowers are to the tune of Rs 4,42,267 crore till endMarch 2015!

fluential rich people. Institutions fretted but remedial actions remained a far cry! Events like these can severely undermine the role of institutions and put at stake their transparency and fairness in protecting investor rights.

Empirical research on corporate borrowing behavior in India has always highlighted the risk averse nature of Indian banks. Findings suggested that banks discriminated in favor of large corporations that had larger collateral capacity and larger volume of cash flows vis-Ă -vis their smaller counter parts. Researchers and robust methodologies however remained completely detached from the liquidity aspects of collateralized assets and the nature of property rights with regard to the pledged assets. The net result? The Indian Express (May 11, 2016) reported that 27 public sector banks collectively recovered just Rs 26.6 out of every Rs 100 that turned bad in FY15, lower than the previous two financial yearsâ&#x20AC;&#x2122; Rs 29.32 and Rs 27.41 respectively, which lenders managed to recoup. For the other proxy cash flow, that is what vanishes in periods of gloom impairing the capacity to service or repay debt!

In order to set things right, the apex bank has initiated the process of cleansing bank balance sheets; the RBI has decided on March 2017 as the time by which all banks must clean up their balance sheets. The process is painful and requires these lenders to set aside huge chunk of capital in the form of provisions to write off NPA which for all practical purposes has ceased to be of any value except as an accounting entry. Consequently some banks have reported huge losses and other have reported substantial loss in earnings, resulting in sharp decline of share prices and loss of shareholder wealth. This exercise though extremely painful for any developing economy, is expected to present the true and fair health of the banking system and also prevent recurrence of similar episodes and the mindset of an eventual government bailout as a perennial escape route.

Another typicality of Indian public sector banks has been their incapacity to develop project management competencies that should have preceded its emergence as the principal lender to business enterprises. Recent disclosure of bad debts only reinforces the claim that even when large amount of public money were lent, monitoring and control were lax and banks failed to flag troubled project and expedite the process of recovery. To add to these troubles, there are other institutional weaknesses that compounds the plight of financial institutions in general and banks in particular in countries like India. Consider this event. In September 2015, Amket Auto missed payments on the Rs 800 crore worth of bonds, potentially exposing the Indian banking system to a near Rs 8,000 crore of loans which may have to be classified as bad loans if the company did not quickly make payments. This was largely an outcome of the companyâ&#x20AC;&#x2122;s acquisition binge that squeezed cash flows and impaired its capacity to repay. Exactly a month later, it was found that the company has violated the basic nature of the bond agreement by selectively paying holders when all the holders have the holders have to be treated pari passu since the underlying asset belongs to all. The favorable treatment was extended to bond holders such as Aishwarya Rai Bachhan, movie maker David Dhawan and more than a score of in-

The apex bank has also initiated restructuring schemes for infrastructure projects, popularly known as the 5/25 scheme under which allows banks to extend long-term loans of 20-25 years to match the cash flow of projects, while refinancing them every five or seven years. Additionally on the legal front, the existing the new Insolvency and Bankruptcy Code, 2016 now in force addresses an important lacuna of the preexisting Code that did not aid lenders in effective and timely recovery or restructuring of defaulted assets. The new Code allows creditors to assess the viability of a debtor as a business decision, and agree upon a plan for its revival or a speedy liquidation. The Code creates a new institutional framework, consisting of a regulator, insolvency professionals, information utilities and adjudicatory mechanisms, that will facilitate a formal and time bound insolvency resolution process and liquidation. For this Code to succeed, implementation however remains the key. These measures are indeed great advances in restoring the financial health of our banking system, but we need to address issues on bank autonomy; the need to insulate banks from being treated as extended arms of the ruling dispensation, fulfilling the agenda of populism has never been more than it is now. Prof. Raju Majumdar

Faculty Article Formal Degree and Entrepreneurship: Are they complimentary to each other? Bill Gates (Microsoft), Larry Page (Google), Kunal Shah (Freecharge.in), Gautam Adani (Adani Group) can be considered as an informal list of some billionaire CEOs that dropped out of the high school or University and turn them into self-made billionaires. The questions here are whether to be an entrepreneur you need to attend an Under Graduate degree program? I can’t fit into regular corporate job so what after degree? I need to enter the family business than why to study? Ask around and we will be confused with the conflicting answers. But a deep thought and few logical arguments can help one to reach a decision necessary and fruitful for the career. Many young minds with fascinating ideas think that a formal training is optional than a necessity or compulsion, a view point that can be costly for both short term profit and long term growth. May be the young entrepreneur consider a degree course to be an expense rather than an investment. Entrepreneurs do tend to have maverick behavior and their entrepreneurial instinct provoke them to do something different than attending a well-structured degree program in class rooms. Looking toward Indian scenario, major business houses in India are family businesses and the owners are fairly old, that means many graduated high school long back where instincts are more important than degree. However, if we assess randomly in today’s business arena, it would be interesting to note that entrepreneurs on a whole, tend to have more qualification than others. Consequently, the idea for the need of formal training in entrepreneurship can be reinforced. Sachin and Binny Bansal (Flipkart), Maanav Garg (Eka Software), Ameera Shah (Metropolis Health care) are some of the well qualified first generation entrepreneurs. Their successes reinforce one’s belief in formal training and its contribution to the entrepreneurial success. Training should be viewed and utilized as capital investment. These formal degree programs may not be result oriented in the beginning but they establish a learning dynamics in would be

entrepreneurs’ cognitive system. Along with core business learning, these formal training programs inculcate the learning culture in the candidate. This culture could be further percolated in all the departments of the candidate’s future organization. The learning process shouldn’t be targeted with budget and time related factors. One needs to sit down and assess the class room learning after every trimester or semester to identify the expectations from the course and brainstorm to make the learning outcomes effective and efficient. It is not always relevant to focus on a handful of mega billionaires success stories and arrive at the conclusion that post-secondary education has no role to play in entrepreneurial success. Education for dome may not be necessary but statistics clearly reveal that there are many more examples of success with education than without it. A college degree is a time which provides an opportunity to grow up and expand the horizon beyond high school and home environment. The vibrant, intellectual and technology driven environment develops a vision required in today’s innovation business growth. Unless you are high school genius or have blessed talent in specific field, without a formal degree you are putting all your cards of success on luck. Hence, it is advisable to understand the role of education than to be fooled by exceptional examples.

The formal UG degree not only imparts subject knowledge and technical skills but it gives a shape to one’s character and enhance the decision making power. It enlightens and logical-

ly develops the intuitive capabilities and gives an opportunity to hone the leadership skills. The class room teaching also explains how to balance work and personal time, meet deadlines and follow through commitments. All these skills are passive but valuable to entrepreneurs. The degree gives not only sense of confidence but also offer a certain sense of credibility when you are about to make deals with the perspective clients, investors and bakers. Without formal education one may be excelling in terms of money measures but what is lacked is the association and network formed during the college days. In future these liaisons and networks could be developed into business ventures. The success mantra for business ventures in todayâ&#x20AC;&#x2122;s world is what you know and who you know. The new aged leadership institutions impart entrepreneurship training not only based on complex statistical analysis and algorithmic solutions but provide hands on training through case studies, webinars, seminars and business simulations. These state of art institutions have a well-designed overall education in liberal arts which is a super requirement for the entrepreneurs to succeed in this technologically advanced and sensitive 21st century. The courses designed by these new age institutions go to the extent to bring industry into the class rooms. Along with this such institutions arrange several conferences on their campus where young entrepreneurship can

meet industry icons, future financers and angel investors. The worldâ&#x20AC;&#x2122;s top class Universities offering courses at under graduate level offer loan to the students to start their business, thus giving wings to the viable ideas. For example, according to Forbes magazine Babson College, MA, number one ranked college for under graduate entrepreneurship courses offer $3000 to its enterprising students. By the end of the term students are expected to return the loan and also donate any profit they make to charity. They offer Under Graduate degree in Entrepreneurship in collaboration with various established and renowned foreign universities. These colleges not only teach Entrepreneurship but actively engage in creating startups by developing incubation cells, offering mentorship and if required provide financial support as well. In the fast changing business games and super competitive environment the formal training imparted by the universities can provide a cutting edge for new era success.But not to forget, along with a college degree to succeed as an entrepreneur, drive, determination and true passion are the key ingredients. To be cautious, never enter the University for wrong reasons or under any kind of pressure and never present half-baked ideas. Dr. Vidhisha Vyas

Book Review BOOK REVIEW By Prof. Neeraj Dangi The world is changing and so should you because the expectations about the roles have changed too. Current business demands that we lead differently, yet conventional methods to gain new leadership skills are proving less effective. This is the prime prelude Herminia Ibarra uses to set the tone for her book; Act like a leader, think like a leader. She reverses the idea of how we understand and practice leadership and lays down a foundation for leaders to consider in their quest to become more effective at leadership itself. What happens when one is asked to lead for the first time? The immediate change is from individual contributor to a leader of your team. However most often one feels that one is devoid of a map and compass to complete one’s mission. This book attempts to be that map and a compass for new leaders who quest to be an above average leader. The book is a result of research conducted on hundreds of management executive education. Being a renowned professor at INSEAD, she says the only way one can become a leader is by plunging into first rather than thinking about it first. She turns the long held prime of ‘think before act’ upside down by what she calls as ‘outsight’ is the key rather than ‘insight’. She says that, In order to become as effective a leader, introspection and self-analysis can only help us some extent. Infact, what leaders need to seek and access new knowledge, novel experiences and enlarged networks. If the Outsight principle is about action, Ibarra crystallizes the theory with an extremely useful model that any type of leader can utilize. The budding managers need to make small but strategically important changes at their work, in their networks and finally in themselves. She offers advice to help by creating an ‘Outsight’ model that demands three key actions for a leader; • Redefine your job in order to make more strategic contributions • Redefine yourself by diversifying your network so that you connect to, and learn from, a bigger range of stakeholders Redefine yourself by become more playful with your self-concept, allowing your familiar—and

possibly outdated—leadership style to evolve The first pillar of ‘outsight’ model states that people in leadership roles get bogged down in too many daily routine jobs like meetings (HBS study say 60% of time is spent on meetings) or responding to emails etc. Instead leaders should focus on learning new skills especially those where they are weak. Heriminan suggests that leaders can redefine the job by getting involved in projects outside your normal job profile and having elastic schedule. For the second pillar, she suggest that leaders broaden their horizon by networking outside the organization even to the extent of different areas. The book exemplifies how a BP senior executive was able to envision the need for BP to include renewable energy sources in their company portfolio as a future growth strategy for BP despite they being in oil and gas industry leader. The last pillar of the outsight model perhaps as per Herminia Ibarra is crucial because this would drive the others. She says leaders need redefine their identity. This is important since sometimes embarking on a new journey and practicing new behavior feels like unreal, Herminia says talks about this feeling of not being authentic in specific chapter. With vivid examples and in depth research that pings our grey matter, Ibarra takes all aspiring leaders beyond normal clichés to a thought provoking richer understanding of what all it takes to become a better leader. The author also shared her experiences as she goes through the lessons in every chapter. In short, it is an inspiring and instructional read offering practical approach to leaders of all tenure who wish to redifne their leadership roles. There are many things you can learn in this book aside from those mentioned above.

Campus News GURGAON students had a special performance lined up on the song ‘London Thumakda’. The performance was spot on with the theme, blending the Indian tunes and dance moves with a western twist! The performance created a moment of utter amazement. The fabulous evening came to an end with the vote of thanks and a group photograph. INDEPENDENCE DAY CELEBRATION

CULTURAL FUSION AT IILM The Legion at IILM Institute for Business Management comprising of faculties, PG-1 and PG-2 Students as well as the Undergraduate students came together for a sensational evening of ‘Cultural Fusion’ – an event of good old-fashioned awesomeness! Since the students from the UK had come for the International Short Term Program at IILM Gurgaon, it surely called for a celebration. The event was organized by Utsav – The Cultural Club and was held on 15th of July 2016 at the IILM Gurgaon auditorium to celebrate the coming together of two different cultures – India and the United Kingdom. The energetic evening took off with a delightful introduction followed by musical performances by the students of PGDM batch of 2016-18 who got the audience swaying to the different genres of Indian music. Contrariwise, Abhishek Mishra and Antus Manuja brought in the music from the West and got the whole crowd dancing to the beats of the international favorite songs. IILM students engaged with the participants from the UK through an ice-breaking game of ‘Con-Fusion’. They also got the UK students to try the Punjabi ‘Burrah’ with some amazing results. Stepping up to the beats of our culture the UK

IILM Gurgaon soaked in the Independence Day fervor; in 2016 we celebrated the 70th anniversary of free India with the underlying theme of ‘Azadi 70 - Yaad Karo Qurbani’ to pay a tribute to and remembrance of the great souls who have sacrificed their life and fought for the independence of India. Keeping the theme in mind, the Cultural Club of IILM Gurgaon had planned a series of events. Nukkad–natak on 9th of August highlighting the ‘Jalianwala Bagh Massacre’ followed by the ‘Quit-India Movement’ including the speech of Mahatma Gandhi during the same time. Essay writing competition and Painting competition were held

on 11th of August among the students to reverberate the feeling of patriotism which they have towards their homeland. The gaiety of Indian Independence Day was further rejoiced by organizing a ‘Cultural Event’ on 12th of august in the IILM Gurgaon Auditorium. The place was covered with the colors of the Indian Tri-color as everybody present there were in traditional Indian wear and wore at least one color of the Indian Flag. The program began with a group patriotic song ‘Vande Mataram’ followed by two acts that were prepared by the UG and PG students of IILM Gurgaon. The acts were in line with the theme of ‘Yaad Karo Kurbaani’. The event also included a Quiz, an audio-visual to pay a tribute to the women freedom fighters of our country and a video depicting the achievements of various Indian women in diverse fields. The celebration concluded with a colourful group dance performance by the students on the theme of ‘Unity in diversity’ including dance forms from the four corners of India uniting together for a foot-tapping performance on ‘India Wale’; prizes were distributed to the best dressed girl and boy basis the dress code. The Cultural event was wrapped up by reciting of the national anthem along with our students who were in Finland for their Global Study Program from IILM. Last but not the least, a ‘Candle Light Freedom March’ was organized around the institute where the students marched from IILM Gurgaon along the Golf Course Road in Gurgaon to remember all the freedom fighters who had sacrificed

their lives in attaining freedom for their future generation, without worrying about their comfort, rest and life. JANAMASHTAMI TION

CELEBRA-

26th August 2016 brought the entire campus together along with the Faculty and Staff members of IILM Gurgaon to celebrate the festival of Janamashtami at the campus. The event started with a Janamashtami Puja where the birth of Lord Krishna was celebrated by a ceremonial bhogh and aarti to the Lord. This was followed by a ‘Matka Todd’ where the students huddled up and made a human pyramid in order to burst the Matka or Earthen pot filled with milk and goodies which was hung by a rope on the ceiling. The students took the celebrations a step further and rejoiced the day with a fun-filled Tug of War. SAVE LIFE... BE A HERO – YUVA GOONJ BLOOD DONATION CAMP

vention Day” held on 10th of September. It tried to generate healthy gesture with execution of 3C - connect, communicate and care for the prevention of suicide amongst young adults giving them a platform to work for more creative and positive work of blood donation and helping Thalassemia and Leukemic children to live longer and enjoy life, the most precious gift of God. Yuva Goonj organized a Blood Donation Camp at the premises of IILM Institute for Business and Management, GURGAON on 12th of September in collaboration with ‘Blood Connect’. Blood connect is a student initiative which works to tackle the problem of blood shortage in the country. Established in 2010 in Delhi, blood connect believes that youth when united can only solve this problem. They have worked with over 50 colleges and 18 different cities to ensure that youth puts up a united front and can become a stakeholder in the process.

21st century more or less has turned into self-centered and materialistic world. People are lacking in terms of humanitarian gesture and care for their surrounding humans. In this haphazard and rushing lifestyle, malevolent inner voice often command self-destruction to intangible reason and lead people to end life. Suicide is a desperate attempt to escape suffering –blinded by feeling of self-loathing, hopelessness and isolation. The NGO club - Yuva Goonj whose objective is social awareness towards social cause opted to create a positive ripple effect on the occasion of “World Suicide Pre-

Campus News

Lodhi Road

Sports Activities Football match and tug of war were two sports events organized for the undergraduate students of the IILM Business School, Lodhi Road Campus. The students of all the stages were grouped into four teams, named under popular characters of Harry Porter series - Godric Gryffindor, Helga Hufflepuff, Rowena Ravenclaw and Salazar Slytherin. The event which took place on 17th September started with Football Match. Two winning teams of the first round - Helga Hufflepuff and Salazar Slytherin participated in the final round with Salazar Slytherin winning the match. In tug of War, the two qualifying teams for the final round Godric Gryffindor and Helga Hufflepuff played in full spirit against each other, and Godric Gryffindor won the match. The students appreciated and enjoyed the sports events. All the participants, who were colors of their teams and played with great enthusiasm, expressed their desire that they wanted to see such events happening on a regular basis as it gave them another forum to interact with one another. A special note of appreciation goes to all the volunteers and Captains of the events, who helped in coordinating and organizing the event. They displayed great enthusiasm and team spirit. Their efforts in coordinating with the participants, arranging ref-

eree for the match, preparing the field for the games are being recognized. Iccha Club â&#x20AC;&#x201C; Blood donation camp A blood donation Drive was organized at IILM Lodhi Road campus in association with Rotary Noida Blood Bank on the 12th of October 2016 between 10 am and 4 pm. 28 Donors were screened at the Camp. Out of which 19 could donate blood. The event was successful and helped spread awareness about the importance of donating blood that can save millions of lives. Dandiya Night at LR Dandiya Night is the most sought after evening of the year. This year as well it was celebrated with much gusto on October 13th, 2016. The students from both UG and PG courses along with the teachers got together for a night full of dance, drama, food and fun. Students enjoyed grooving to the beats of the dhol and the games played enthused the crowds with a different energy level all together. The candid photographer for the evening made sure that all of these moments were beautifully captured for all times to come. The event was surely a great success. Overall, it turned out to be a memorable evening indeed.

Campus News

Greater Noida

The campus life at IILM is very active and live, every time you are here you will see some activity or event going on, be it guest lecture, sports competition, cultural event or any other competition. In the month of June since it was the beginning of the session, the students went through guest lectures about their journey in the corporate world and competitions with the aim to know their peer and fellow students. The events also gave students a platform to share dreams and aspirations and an understanding to challenges of working in a team of similar but unknown people. Crossing Over A crossing over was organized by the Career Development Centre to enlighten the students on their transition from the undergraduate environment to the realistic world of the post-graduation; which is in most cases the terminal degree and opens their pavement to their earliest employment. Corporate guest were also invited to conduct these sessions, which covered managing expectation gap, life in a company, time management, and relevance of effective networking. . It was more about the fitment to the needs of the corporate. Various Industries speakers were invited for each session.

The first session of Crossing over was taken by Prof Vinay Chirania and placement team to set the right mind frame for the students companies visiting IILM and profiles offered by them. Students were also asked to share their dream companies and also they were guided how to get a dream job. The second session was on Expectation management and Mr Amit Kumar was the Industry speaker who shared his experience on what companies basically look for during hiring process. Different aspects of organisations' beliefs, the expectations an employer typically has from young management trainees, what are the expectations of the companies from their employees , and also the aspirations of young employees were the points of discussion. A team of two faculty members- Prof Arun Gupta and Dr. Shyamali Satpathy helped the students in exploringfor their placement potentials. The session also included the information on understanding the job market, various their expectations for the successful career with the help of an activity sheet. Next session was on “Life in a Company” taken by Prof Sanchita Ghosh and Mr Pawan Kumar were facilitators. They made the students understand how to match the expectations of the company with their own, and also guided the students to un-

derstand the vision and mission of the company while working in a company. “How to meet Deadlines” was the main theme of the next session by Prof Vinay Chirania where he gave an insight into prioritizing various activities and time management. The last session of the crossing over was on “How big your network” facilitated by Dr. Kanika Gupta which enabled students to understand the importance of maintaining a resourceful network and the industry person Mr Anuj Gupta elaborated how to build networks through increased exposure , meetings and other means The Crossing Over for the second batch was conducted on 5th of July where Prof Vinay Chirania took the students through the objectives of crossing over. One video “World Economic Forum 10 Skill sets you need in workplace in 2020” was shown to the students. The session on “Expectation Management was taken over by Dr. Kanika Gupta and Mr Manoj Kumar - Director, Apex Group was the guest for the session. Mr Manoj Kumar talked on taking initiative and looking for opportunities, risk and capital management and problem solving skills can lead to success. Next session was a panel discussion where Prof Sanchita Ghosh was the facilitator. The first speaker, Mr . Prashant Bajpayee, Corporate Hr Manager for DIC India

Ltd, also the alumni of IILM, briefed the students about his life and also shared his experience of corporate life after his PGDM program, He also motivated the students focusing on positive attitude and hard work. Second speaker Ms Harshita Narang an analyst at E& Y, also an alumni og Greater Noida campus, gave a quick glance of future sharing her own experience at corporate. The session was followed by question answer round where students seemed to be very excited putting forward their doubts. Students enjoyed a lot in the next session “Handling Deadlines” facilitated by Prof Vinay Chirania. The guest of the session spoke about criticality, challenges and how to meet deadlines by managing time. “What is your Attitude status” brought about the importance of maintaining right attitude for success. The Industry person took the session by giving real life examples and shared two stories from her working life. Dr. Shyamali Satpathy gave a brief of the work related attitude giving example of work situations. At the end of the session, there was a question answer round where students were excited to participate. Last session was dedicated to Networking where Prof Arun Gupta was the facilitator and Mr Harveen Bedi, Executive Vice President, Naukri.com. Mr Bedi talked about various categories and importance of networking. Mr Bedi also added that in any grapevine and strategically networking is by finding common grounds with respective person. In any strategically communication it is also very important to have a thorough background check on the subject which works surprisingly well when combined with perfect timing. Concluding the lecture with excellent message he said “Be Shameless in Networking”. This session helped the students to set the base and

direction of career with a proper understanding of networking. Group Activities The activities in the campus was not only confined to the classroom interaction, however, an equal attention has been paid to developing student’s inter-personal skills, team work, confidence, learning by doing; which leads to their overall personality

development. The research concluded that the co-curricular activities makes the students’ employable and abridges the industry expectations from the fresh graduates. Varied activities to bring out the hidden skills were planned ranging from the tower building activity, dinner with faculty, movie, sports, musical evening, boggle your mind, experiencing the fire, management games, and showcase your talent. Some of the major activities are detailed herein. The ice breaking activity involved tower building exercise, wherein the students are required to build a tower in their groups with the given resources like straws, pins, and clay. The tower was assessed on the basis of its height and beauty. The team work, planning and execution and the efficient resource utilization was also tested. The activity was followed by the faculty and students combined

dinner. Another exciting activity was boggle your mind, wherein the students were given the theme ‘Life in a Corporate’ and were given some resources. The students were divided in teams and they were asked to conceptualize the notice board and decorate the same following this theme. It really aroused students’ interest and they worked late night in their respective teams, with early morning final touch-ups for the management evaluations. The wok was judged on the optimum utilization of resources, team work and creativity and innovation employed by the teams. The students were waiting for testing their cooking skills with their team mates, which was fulfilled by the activity titled ‘experiencing the fire’, wherein the students cooked and offered meals in the controlled environment. Here the students were required to show their financial planning ,resource planning, coordination, job allocation, to do every thin within the limited budget and time. Another much awaited activity was the musical evening which was cherished. Building the tower of Hanoi also formed the part of evening activities. This involve using their analytical, logical and decision making skill . After the numerous faculty moderated activities, the students planned a talent show in the last days of the orientation week. The event was planned and executed solely by the IILM students which projected their belongingness towards the organization in the short span of time. The talent show involved dance performances, drama, poetry, extempore, fashion show, guitar and singing performances amongst others. The student driven event was a big success and motivated

many students to come out of their comfort zone and project their skills for continuous development. The major event for the month of July was the formation of various student clubs for the academic year 2016-17. Some of the unique clubs that the group suggested for the current academic year by the students are: Puritans – The academic club, Heels on Fire – The Sports Club, Fools and Devils – The Entrepreneurship Club, Eco minions – The Environment Club, Samaritans – The Social Club, Drum Beats – The Cultural Club, The IT Bunch – IT and gaming club, Bookworms – The literature Club, Liberals – The Media Club, and the Glossophobians – The Speak-up club. A group of student of Gen UK visited the IGSM campus on 8th July as a part of a short term program at IILM. Mr Abhay Singh, Associate VP Evalueserve delivered a Guest Lecture to the PgDM 16-18 batch and shared his experiences about the way Global Virtual Teams function effectively and create a distinct advantage for the organization. He discussed about the growing trend of working with global team and the challenges involved with it. In his lecture he also discussed the technologies that are used by the companies to manage virtual teams and importance of communication. 70th Independence Day IILM celebrated the 70th Independence Day with great zeal and enthusiasm. A cultural event to commemorate the same was organized on 12th August, the last working day before Independence Day. The flag hoisting ceremony was organized on 15th August.

and the sacrifices made by our great freedom fighters. IILM students who had travelled to Canada as a part of the global study program also celebrated the occasion by organizing an event to present the glory and colors of our country. Teachers Day IILM GSM celebrated teachers’ day on 5th of September, the birth anniversary of the Dr. Sarvepalli Radhakrishnan, the President of India between1962-67, who himself was a great scholar, an educationist and a teacher. IILM GSM students planned a celebration to make the Teachers’ Day special. They paid their respect by gifting handmade greeting card containing original rhymes penned down by the students of PGDM 16-18. The cultural event started with the lamp lighting ceremony, followed by fun activities for the faculty members like musical chair, lemon race, & quick quizzes. Besides, they also performed dance and poetry recital as a mark of respect for their faculty. The event was organized professionally and was appreciated by everyone. Janamsthami Celebration Janmashtami, is the birthday of Lord Krishna which is celebrated with great enthusiasm all over the country. It is believed that Lord Vishnu reincarnated in the form of Lord Krishna on the auspicious day of Janmashtami. The historical background of the birth of lord Krishna depicts the significance of this Hindu festival. IILM GSM students organized Janamsthami celebration on 10th August.

An hour long event has been organized that was a perfect blend of patriotic songs, drama, skit, dance performances and recitations. Some of the poems touched a chord with many in the audience. The drama aptly brought out the social evils prevailing in today’s society and conveyed the need to eradicate the same. The skit brought out the code of managing the flag and how it represents hopes and aspirations of the people. On 15th August, the students along with Senior Director – Major General B. D. Wadhwa hoisted the flag. On the occasion one of our first year student Mr. Noorul Islam delivered a speech on the history behind the Independence Day

GENERATION UK- INDIA SHORT TERM PROGRAMME Post event Newsletter

July 2016

When geographical boundaries disperse and the impact of cul-tural fusion overpowers the air with its brimming excitement and joy, the result is magical! The month of July 2016 brought in a new vibe to the IILM Gur-gaon campus with the arrival of the participants from various UK universities for the ‘Generation UK – India Short Term Pro-gramme’. The 30 participants, coming from 17 different Universities of UK were taken through a 13-day Short Term programme revolving around Social Entrepreneurship, which gave the participants an insight into various aspects of the Indian society. The sessions were designed to incorporate an amalgamation of academic and industry perspectives. Hence, for many of the lectures, speakers from Social Enterprises delivered the sessions along with the professors at IILM. Further, the programme incorporated visits to NGO, Indian Social Enterprises, cultural excursions in Rishikesh, Haridwar, Agra and Delhi as well as cultural work-shops on campus.

From this course I hope to take away with me India’s optimistic and practical outlook on change. I experienced this from every person I met whether in the NGO’s, at the institute (IILM) or at the Ashram. The course has cap-tured my beliefs that I would like to work in a field, which impacts the social sphere positively. - Beth Gaffney (Participant)

The International Short Term Programme was highly appreciated by the participants and the British Council representatives that made an indelible impact.

Classroom Sessions – International Short Term Program The participants were taken for exploratory excursions around Delhi through which they discovered the grandeur and magnificence of the Indian culture and heritage. The visit to Delhi covered visits to Qutab Minar and Delhi Haat while the city of Gurgaon was explored by giving a glimpse into the Indian subcontinent through a Musical Show at Kingdom of Dreams

So as to help the participants rewind and rejuvenate from the daylong schedule,Bollywood Dance and Yoga Workshopnized within the Campus premises

Visit to Literacy India

A visit to the Taj Mahal in Agra was also incorporated in the itinerary that amazed the participants with its immaculate beauty and architectural splendor. The participants truly enjoyed their stay at Par-marth Ashram in Rishikesh and got to witness the Puja at Haridwar as well.

The activities were well appreciated by the participants as it helped them reprieve from the hectic schedule and groove to the Indian Bollywood Dance moves and the relaxing Yoga exercises

The last day of the participant’s stay at the institute was celebrated with the faculty, staff and students of IILM Gurgaon. The students of the Cultural Club at IILM Gurgaon organized an event of ‘Cultural Fusion’, which allowed the Indian and UK students to enjoy an evening of dance and music in their own style.

“I’ve enjoyed applying So-cial Entrepreneurship theo-ry at case studies such as the Roshni Rai School. I’ve particularly enjoyed seeing the positive impact of so-cial entrepreneurship on the youth, e.g. education. Seeing the place of social entrepreneurship in Rishikesh also helped me to challenge different as-pects of its impact and has helped me to understand which areas can be sup-ported more. I also loved exploring India and learn-ing more about the culture” - Camilla (Participant)

The IILM Team and the In-ternational partici-pants bonded during the Programme, leaving behind memo-ries to be treasured for a lifetime! “These 2 weeks have been everything I have expected and more – it has given myself and my career a focus, which I have felt I have lacked since graduating a year ago. Its also been great to spend these 2 weeks with such a great group of people! The lectures and visits have also given me confidence in my ideas and abilities Opened my eyes to the ‘third sector’ and has energized me to one day start my own social enterprise and has ignited the passion in me” - Kerwin Blackburn (Participant ) To know more about the upcoming International Short Term Programmes in 2016, visit our website: www.international.iilm.edu

Global Study Love the Land, Live the Life.. Normandie, France (Global Exchange Program) By: Er. Manvendra Singh, (PG20161419)

A global exchange program was organized for the PG-1 students of IILM, all the campuses. Students were given choices to choose one of their dream global universities on the basis of modules offered by the university. The choices were France, Spain, Canada, Germany and Finland. The entire program was sponsored by IILM and tied up university except the students extra expenditures like food, travelling etc. On 4th of September 2016, 45 students collectively from LR, Gurgaon and Greater Noida campus boarded Emirates for Ecole de Management de Normandie, France with Dr. Gurpreet Singh Bhatia (Associate Professor, Economics, LR) as the team lead for the students for the entire exchange program. The students were provided with the resident at Apart’ City, Caen. The exchange program started on 6th with the welcome speech of Alain Ouvrieu, director of EM, Normandie. During the orientation the students were introduced to the different modules they have to take for next 26 days. The modules were: Supply Chain Management by Roger Soulieux, Doing business in France by Ma-

rie-Pierre Seznec, Business startup by Max Mikale Bjorling, and Business Project by Alain De Lamaziere. The students were divided in the group of 5-6 and were asked to present a business plan on lingerie’s and swimsuit market in different country like Benelux, Great Britain, Germany etc. The whole program was coordinated by Severine Groult(International Development Manager, Short program) and Brigitte Laine(International DevelopmentAssistant). In addition with this the students were also explained about the rules and regulations to be followed in college and hotel. Each and every studentwas provided on the same day with a unique identity card and a tram/ bus card to travel nearby location for free of cost. The cost for the meal for Indian students was reduced so that they have to don’t pay much in terms of euros in university canteen. The program was planned in such a way that there were class room lectures and related excursion. For example after attending SCM classes there was an excursion planned for student to Le Havre

Port for the better understanding and practical knowledge. A surprise team building activity was also organized for all in an amusement park called Festyland, where students were told to capture pictures and videos and finally produce a digital file which was discussed in terms of business in front of Mr. lair, Director of Festyland. In addition to this students were taken to Caramel D’isigny where they tasted the caramel products and were showed the entire process how caramel chocolates are made. Students were allowed to buy the chocolates and candies from factories own shop at cheaper rates. Here the idea was to explain the businesses related to caramel i.e. how the raw materials like milk, sugar etc. are arranged from different parts of the country. Another excursion was also made to cider factory i.e. Billy’s farm where the students there shown the process of making cider and how apples can help in making business. Students were allowed to taste the different kinds of cider and buy them from the firm. Not only the business excursion

but also the fun trip was planned in between the studies. Trip to Etretat was planned to show and experience the beauty of nature’s creation in form of elephant trunk cliff. Since, Normandie was one of major victim during World War 2, so to explain the history and the past, another trip was planned to Omaha beach, US Crematory and to the Memorial at Normandie. The students were explained about the hard situation and grievances faced by the people during the Hitler rein and how the World War 2 changed the face of the world specially France. To make memories, students were taken to Le Mount Saint Michel which is one of Europe’s most unforgettable sights. Set in the mesmerizing bay where Normandie and Brittany merge, the island grabs the eye from great distance. The entire story of how a mout turned into a great place of Christian pilgrimage was explained by the help of audio guide to everyone. A unforgettable trip was also planned for the students dream city i.e. to Paris. Each student was given a blue t-shirt with the brand tag of EM Normandie on it for the trip. Students were shown the 360° view of Paris from Montparnasse tower. In addition to this student were also shown some of the major brand and histor-

ical monuments like Arc De Triomphe and finally dropped to Eiffel tower where photoshoot was done and students were allowed to enjoy on their own. Finally a relaxing trip on cruise down the river Seine was organized which proved out a great way to see many of Paris’ famous landmarks and sights. Over the weekends everyone was allowed to go for the places they wish. Majorly students targeted Belgium, Amsterdam and Switzerland.

The expense for this trip was on their own. But before leaving from the hotel they were asked to give a written information of the places they are leaving to, the number of students going and there contact numbers, there hotel and travelling tickets details. This information was circulated to IILM as well as EM Normandie so as to keep a tract to the student’s safety and security. Each module has given a timeline of 4-5 classes to complete the course. At the end the students were asked to present a power point presentation in three modules and a mock multiple choice question insupply chain management module. The students were rated on scale of 20 in business project and top 3 business plan i.e. groups were appreciated for their work. In business startup module the students were asked to present their idea individually on how tourism in Normandie can attract Indian tourist. Manvendra and Pravin, a student form LR and Gurgaon campus respectively got 20 on 20 for their idea. Similarly in module doing business in France a presentation in group was done on how the business in Normandie is going on in different sectors. The 26 days for the student ended with lot of fun and learning at EM Normandie. Student who excel in their work were appreciated from university side and a dinner at was organized for all in an Indian restaurant by Severine. Finally on 30th morning the students were dropped to the Paris airport to back to India.

Global Study Global Study at ISM Frankfurt : A Narrative

It has been weeks since we returned from Frankfurt and I still have Frankfurt flavours running in my mind. A warm thank you to IILM for lending me this golden opportunity to study in International School of Management, Frankfurt through their unique one-month study global program. As soon as I arrived at Frankfurt, the beautiful city began to cast its magic on me. The moment I got deep into the city the beautiful green meadow, riverscape and pleasant weather commenced a mind-boggling impact on me. Enchanting night walks nearby Main river bank are still solace worthy and breathing inside me. On the academic front, we got a very warm welcome from those at ISM and our trip unfolded its wings by a fantastic city tour of Frankfurt arranged by them. From the very next day our academic journey at ISM began. Modules we got taught there were Financial Management, Social Media Management and Strategic Management. It would not be wrong in any way to say that we got a “complete package” of the business arena comprising in these three modules. No subject is interesting until and unless it’s in good hands for deliverance. Professors were very

enthusiastic to impart us learning and made us know what the business scenario of Germany is. They kept us actively participated in our four weeks sessions and made us nimble in case-studies, team work and presentations. We had a visit to manufacturing plant of Opel and were briefed on the automobile manufacturing plant works. We had a day at Frankfurt Stock Exchange, Deutsche Bank and monitored German economy very closely. The portrayal of the academic journey at ISM would be incomplete without the name of Prof. Ernest Fahling, HOD of Financial management at ISM, certainly one of the finest teachers I have ever been taught by. His simple yet significant way to in pour knowledge in pupils and polite sweet gesture makes him different from the crowd. Friendly and highly enthusiastic persona of Mr. Fahling will always be reminiscing evergreen in my mind. The maiden month academic journey at ISM-FRANKFURT is nonetheless a treasure for lifetime. To know new and varieties of culture is always the experience very fruitful and enriching in itself. As per my observations Germany is a modern advanced society shaped up by plurality of lifestyles. One thing

that must needed to be mention is that German’s values their LANGUAGE at top and prefer to speak and hear German first then English..!!!! (fewer times we too got difficulties to deal with language) My exploration reveals that Germany is recognized for positive and valuable influence of their own culture, religion and methodology of life spending despite adopting some others. ISM had arranged our visit to the Main Tower – a 56-storey skyscraper located in between Frankfurt city named after the nearby Main River and the viewing observatory from the top left. The entire experience left me mesmerized and spellbound During the farewell week, we had a tour of an open-air museum ‘Hessen Park’ (German village set up). None of us were left untouched with the beauty of the German country side view and the beauty of the museum. Lastle, I would like to say that the Global Exposure has been my most enthralling experience of my life. I got an opportunity to learn about the German Culture and add up a new vista of world in my diary. Ruchi Singh Student at IILM Gurgaon PGDM Batch of 2016-17

Alumni Profile

AHFAZ ANSARI Batch 2005 - 08 A boy from a small town, Meerut came to Gurgaon in the year 2005 with dreams in his eyes and fear in his heart. Mr. Ahfaz Ansari, batch 2005 â&#x20AC;&#x201C; 08 did his Undergraduate from IILM and since then there has been no looking back for him. He came to Gurgaon with a lot of apprehensions of adjusting in the millennium hub and today, he is the Group Accounts Manager at Dentsu Communication Pvt. Ltd. His association with Dentsu has been for almost 7 years. He has successfully worked on brands like Aircel and Panasonic. Prior to working with Dentsu, he has worked with Ogilvy & Mather and took up the project on Religare under their guidance. Ahfaz had started working during his college days with Rediffusion and was given the brands Xerox and Givo to work on. His interest in the area of Marketing and Advertising has helped him climb the ladder of success.

SUMIT MAHESHWARI Batch 2005 - 07 Having successfully completed his graduation in the year 2003 from Kota University, Sumit decided to work before doing his post graduate program from IILM. He took up a job with Standard Chartered Bank and worked for one year before coming to IILM. After completing his masters program, Sumit began his career with CafĂŠ Coffee Day as a trainee and soon was able to get a job with Nestle as a sales officer. He worked there for two years and then joined Idea Cellular as Area Sales Manager. In 2011, Sumit decided to change his path and joined Reliance Big Street and started working in Media Sales. That is when he realized his passion for Advertising and in the year 2012, started his own venture, Think Routes. The company provides out of home media innovations to various companies. Today, Sumit is a successful entrepreneur and is ready to take challenges in life.