The Edge by IILM Institute for Higher Education

Editorial Embracing Liberal Education for Lifelong Learning In our rapidly changing global economy, with millennials averaging five to seven career changes in a lifetime, one could argue that a Liberal Arts Education may be more valuable than ever before. We are entering a workforce and society where having knowledge in just one field will not suffice. Gaining knowledge in a range of topics not only helps students to be well rounded in their skills, but also in their thinking. Liberal Arts Education provides multiple viewpoints and allows for

EDITORIAL BOARD Mrs. Malvika Rai Dr. Sujata Shahi (Vice Chancellor, IILM Gurugram) Dr. Smitha Girija (Director Lodhi Road) Dr. Taruna Gautam (Director, Greater Noida)

educational opportunities that cannot be obtained from traditional mode of learning. The essence of Liberal Education is not what you study but the result – gaining the ability to think critically and independently and to write, reason, and communicate clearly – the foundation for all professions. The aim of Liberal Education is to produce people who continue learning after their formal education has ceased. It is to produce people who think and question, and know how to find

Ms. Radhika Madan (Assistant Professor)

answers when they need them. A Liberal Education is one that

Ms. Atima Mankotia (Professor)

and content, and prioritizes critical thinking and problem-

exposes students to a broad range of intellectual approaches solving over content acquisition. At IILM University Liberal Arts Education covers a vast crosssection of knowledge — not only can students dominate trivia contests but also be agile enough to thrive in a complex, diverse, and fluid society. Besides major-specific knowledge, we cultivate skills like critical thinking, problem solving, and written communication that transform students into lifelong learners. We back our commitment to students&#39; lifelong success by continuously making connections between students’ studies and highly valued real-world skills. IILM promotes the values of excellence in education, free

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

inquiry and expression, social responsibility, ethical behavior, appreciation of differences, and a joy of learning about the world around us. Further it strives to prepare students for a lifetime of personal growth and responsible citizenship in this rapidly changing society by enhancing student’s abilities to reason critically and communicate effectively.

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Fifth International Conference on Resolution to Resolve: Sustainability Practices in Industry and Education

Hon’ble Vice President of India, Shri M Venkaiah Naidu Inaugurates IILM University

Words in the Garden-Ghalib ki Dilli

Content s IN-HOUSE MAGAZINE FOR LIMITED CIRCULATION

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IILM Celebrates 25 years

Center for Skills

Center for Entrepreneurship and Business Center for Sustainability and Innovation

Center for Technology

Liberal Art Education

Design and Fashion Industry in India: On the threshold of Expansion MoU between IILM University and Haryana Vishwakarma Skill University

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Principal’s & Senior Educator’s Meet at IILM University Winds of Change through Social Media Young Citizen Award for Innovation & Social Impact Book Review

Campus News

IILM Management Review

Fifth International Conference on Resolution to Resolve: Sustainability Practices in Industry and Education IILM Institute of Higher Education organised its most coveted and flagship event: The Fifth International Conference on Sustainability from February 15 th – 17 th 2018. The theme of the conference was “Resolution to Resolve: Sustainability Practices in Industry and Education”. Being a lifetime member of the UN Global Compact’s PRME India Chapter and one of its champion business schools, IILM takes pride in hosting the event every year in association with UNGC, focussing on specific Sustainable Development Goals (SDGs) as outlined by UNGC. This year the emphasis was on SDG 4 and SDG 9 and accordingly, the sub-themes of the conference focussed on industry, infrastructure and innovation. The conference saw participation from eminent personalities from the industry, polity and academia. The conference this year coincided with the celebration of 25 years of IILM’s contribution to responsible management education. To mark the silver jubilee year, a compendium of articles on sustainability in the form of an edited book, was released during the first day of the conference. There were total of 5 sessions spread over the three days of the conference.

Mr. Vinay Kumar, Director Artificial Intelligence, Microsoft, addressing the audience during the Inaugural Session of the 5th International PRME Conference

Day I: Inaugural Session The conference started with the inaugural session, presided over by the Chief Guest, Prof. Furqan Qamar, Secretary General, Association of Indian Universities; Mr. R. Ramanan, Mission Director, Atal Innovation Mission, Niti Ayog, GOI; Mr. Vinay Kumar, Director Artificial Intelligence, Azure and Search Partnerships, Microsoft; Dr. Bhaskar Chatterjee, Senior Director, IILM, and Dr. Smitha Girija, Director, IILM. The welcome address was delivered by Dr. Bhaskar Chatterjee during which he welcomed the eminent speakers and the audience to this conference. He gave an overview of the three days to come and then invited the speakers to share their thoughts. Mr. Vinay Kumar addressed the gathering and highlighted the impact of Artificial Intelligence (AI) as the fourth industrial revolution. He touched

upon the broader issues of job displacements, AI design principles, government policies and AI ethics as areas that need consideration. Mr. R. Ramanan shed light on various initiatives taken by Atal innovation mission at Niti Ayog including “Mentor India Network” and “Mentor of Change”. Further, he stressed on the need for education to create innovative minds and job creators rather than only job seekers in the Indian context. The Chief Guest, Prof. Furqan Qamar, delivered the keynote address. He began his speech by quoting examples of how AI is eliminating repetitive jobsand how many current jobs will be taken up by machines in the near future. He specifically spoke about SDG 4 that focuses on quality education and further highlighted its critical aspects including access, equity, inclusion, quality of higher education and affordability.

Book release by Dr. Bhaskar Chatterjee, Mr. R. Ramanan, Prof. Furqan Qamar and Mr. Kamal Singh

This landmark event was set off with the release of IILM’s flagship publication titled “Resolution to Resolve: Sustainability Practices in Industry and Education” (published by Bloomsbury). This book, with contributions from some of our nation’s wellknown and eminent academicians, practitioners, authors and intellectuals, highlights the effective thoughts and ideas related to the SDGs mentioned above. This compilation of thoughtful and well researched contributions is not only a great value add to the gravitas of the event but is also a thought provoking platform for the ensuing discussions. The book has been edited by IILM faculty along with Dr. Bhaskar Chatterjee, Senior Director, IILM. Day I: Panel Discussion On The Book The book release during the inaugural session was followed by a panel discussion on the same topic moderated by Dr. Bhaskar Chatterjee during which Mr. Kamal Singh, Executive Director of UN Global Compact Network India; Dr. Sangeeta Mansur, Founder-Catalyst Bhairavi Business & Consultancy; Prof. Vivek Nagpal, Senior Consultant, MHRD; Mr. Rajeeb Kumar Debnath, Advisor PwC, and Mr. Sudarshan Rodriguez, Senior Programme Coordinator, Director’s Office, Tata Institute of Social Sciences, enlightened the gathering on the subject. Each of them presented their contribution to the book and gave insights on its relevance in the context of current education and industrial set-up.

Day 1 of the conference concluded successfully leaving the audience eager for the forthcoming sessions. Day II: Plenary Session I: “Laying the Foundation: Alignment of Management Education with Sustainability” Day 2 of the conference commenced with the first plenary session on the topic “Laying the Foundation: Alignment of Management Education with Sustainability”. Education has always been considered the foundation to bring any kind of reform and it is one of the most powerful and proven vehicles for achieving the Sustainable Development Goals (SDGs). The focus of this session was SDG 4, which aims to provide equal access to affordable vocational training, to eliminate gender and wealth disparities, and

achieve universal access to quality education. Distinguished panellists for this session included Dr. Manoj Sinha, Principal Aryabhatta College, Delhi University; Mr. Siddharth Sibal, Vice President, Accenture, and Prof. John Varghese, Principal, St. Stephen’s College. They highlighted the purpose of education as the vehicle to raise awareness and consciousness among people. Mr. Sibal also emphasised different innovative interventions such as solar coins, block chain technology, 3D printing to name a few, that are currently changing the way we live and consume. Day II: Plenary Session II: “Infrastructure through the Lens of Sustainability”

Prof. John Varghese, Principal, St. Stephen’s College addressing the audience

Panel Discussion on the topic “Laying the Foundation: Alignment of Management Education with Sustainability”

The second session on “Infrastructure through the Lens of Sustainability” revolved around the implementation of SDG 9 - to develop quality, reliable, sustainable, and resilient infrastructure, to support economic development and human well-being. This session empanelled Col. Prakash Tewari, Executive Director, CSR, DLF Foundation; Mr. Pranshu Gupta, Manager, Sustainability Services, Accenture Strategy; Mr. Ajay Tyagi, Managing Partner, Lex Terrae. They underlined the importance of focusing on infrastructure for any of the other SDGs to become a success. They also highlighted the need for culturally and ecologically relevant technological interventions to solve the local infrastructural issues. Mr. Prakash Tiwari spoke about various initiatives by DLF for transforming Gurugram into a Smart City. He concluded with the quote - “the greatest threat to our planet is the belief that someone else will save it”. Mr. Pranshu spoke about Earth Overshoot Day and how infrastructure can help in pushing that further if not eliminating it. He stressed upon 3 main aspects: Economic Prosperity, Quality of Life and Environmental Sustainability and discussed the Accenture – NASSCOM framework which consists of Physical, Social and Environment aspects to achieve true sustainability. Mr. Ajay Tyagi emphasised the importance of achieving sustainable development goals by building infrastructure that caters to the local needs rather than Panelist of the session on “Infrastructure through the lens of looking at some global initiatives and sustainability” - Col. Prakash Tewari, Mr. Ajay Tyagi and Mr. Pranshu Gupta copying them. The session concluded with the idea that infrastructure must upon Innovation as an session saw contributions from Dr. not only be for building smart cities imperative tool to foster Shalini Lal, Founder Infinity OD, Innobut also for the rural sector. sustainable development vation and Change; Mr. Ravi Chamria, Day II: Plenary Session III: “Innovation by solving existing prob- CEO, Block Chain Enthusiast and Finand Sustainable Competitive Advan- lems and providing a new tech Expert; Mr. Ravi Bhatnagar, Head tage” approach, a new perspec- External Affairs &amp; Partnerships, The third plenary session stressed tive to look at things. The Reckitt Benckiser and Prof. Holger

Panel Discussion on the topic “Innovation and Sustainable Competitive Advantage”

year in a renowned company as compared to spending 2 to 3 years in a normal company that does not focus on innovation. The session ended with Prof. Holger Briel addressing the audience about the living standards, co-working styles, co-working spaces, political potentials in different geographical settings. DAY II: PLENARY SESSION IV: “Sustainability

Briel, Dean, Xi’an Jiaotong Liverpool University, China. Dr. Shalini spoke about the difference between Language of Management and Language of Innovation through various examples, highlighting the challenges that the language causes. Mr. Ravi Chamria expressed his views on the history of Blockchain, its types and largely its application as Cryptocurrency. He also stressed on the difference between Information Exchange and Value Exchange and the benefits of Blockchain technology as transparency and trust, immutability, complete authenticity, no intermediary and traceability. Mr. Ravi Bhatnagar expressed his thoughts through two quotes - “Reputation is synonymous to Innovation” and “Purpose first and then Business”. He delved into the concept of Innovation Pipeline. As an advice to budding managers, he mentioned that there is greater learning in one

Practices and Quality Education” The fourth session focussed on SDG 4: The quality of education, i.e. to ensure inclusive and quality education to all and promote life-long learning. The first panellist Dr. Onyebuchi Felix Offodile underscored the ability of the Earth to renew itself, provided the right circumstances are created. He urged the audience that it is our responsibility to facilitate the renewal of our Earth and stressed that education plays a vital role in achieving this sustainability goal by inculcating the right values in our youth. Ms. Dilreen Kaur, the director of the renowned non-profit organization “Ritanjli” began her interaction with an energetic engagement that rejuvenated the audience or rather “created a thunder storm” as she called it. Her passion for fighting against gender inequality, domestic violence, misogyny and patriarchal norms was prominently visible when she narrated the story of people whom her organization has helped. Ms. Nidhi Shrivastava began her address by listing the four stakeholders of education – students, teachers, management, and the society. She pointed out the fact that the focus of education should be on creating job producers rather than job-seekers. Dr. Rania Mohy El-Din Nafie focused her discussion on the role of innovation in education. She elaborated the importance of reducing carbon footprints, and increasing transparency in Panel Discussion on the topic “Sustainability Practices & Quality Education” the education system. She

also expounded on Albert Einstein’s famous quote “Education is not the learning of facts but the training of minds to think.” Day III: Plenary Session V: “Sustainability Footprints of Industry” Day 3, on Feb 17, 2018 commenced with Session 5 on “Sustainability Footprints of Industry” exploring why industries must strive to become sustainable in a true sense by addressing the three pillars of sustainability – economic, social, and environmental – simultaneously. Ms. Jasmine Saini, Head Business Synergy, ITC Hotels and FMCG (Foods) Business; Ms. Sapna Gupta, Solutions Architect , NIIT; Ms. Deepti Rastogi, Director TMF Group; Mr. Gagan Sardana, Super Banker HDFC, all proud alumni of IILM, shared their views on this subject. Ms. Jasmine Saini spoke about sustainability in the industry and briefed the audience about ITC as a company of innovation and sustainability. Ms. Sapna Gupta stressed the need to give back to the society. She highlighted the initiative “Hole in the Wall” undertaken by NIIT and underlined that sustainable growth comes from long term relationships. Mr. Gagan Sardana began with his journey at IILM. He spoke about

Panel Discussion on the topic “Sustainability Footprints of Industry”

how sustainability helps businesses to achieve their objectives and shared various initiatives by HDFC to promote financial literacy in rural areas, including “Parivartan” an initiative for rural development focusing on sustainability through CSR. Mr. Rajiv Kumar focussed on sustainability in the FMCG industry. With the words “to sustain is to Innovate” he opined that in FMCG industry, one must understand the culture & other dynamics. Day III: Closing Plenary The closing plenary consisted of alumni from the first batch of IILM, Ms. Deepti Rastogi, Director TMF Group and Mr. N. Srikant, HR Partner & Executive VP, IndusInd Bank, who shared their journey from campus to corporate and gave tips to the students to better prepare them for the future. The conference concluded with closing remarks by Dr. Bhaskar Chatterjee, Senior Director, IILM. He summarised the learning from the various sessions on all three days of the conference highlighting simultaneously steps that IILM has taken so far to uphold the message of responsible management education. The 5 th IILM PRME international conference was a

Dr. Taruna Gautam; Ms. Deepti Rastogi; Director TMF Group; Dr. Bhaskar Chatterjee, Mr. N Srikant at the closing ceremony of 5 th International PRME Conference

great success and provided a platform for industry experts, diplomats and academicians from different parts of the world to interact and debate on aspects of Sustainability and Innovation that are extremely important drivers of responsible management in the current business context.

Hon’ble Vice President of India Shri M Venkaiah Naidu Inaugurates IILM University IILM University has been set up under the Haryana Private Universities (Amendment) Act 2018, and the University will open its doors to the students from the current academic year starting from July 2018. Mr. S.Y. Quraishi, Former Chief Election Commissioner, is the Chancellor Designate of IILM University and Dr. Sujata Shahi is the Vice Chancellor Designate. IILM University, Gurugram, was inaugurated by Honorable Vice President of India, Shri M. Venkaiah Naidu, on 20 th April 2018. IILM University, Gurugram, has been established on the principles of being Global, Inclusive and Responsible. Anchored around the concept of liberal education with technology focus, the University is benchmarked with the best of liberal education universities in the world. The University, having international collaborations with the best global and national institutions, will be inclusive, reaching out to all sections of society. The focus of the new University will be on Skills, Innovation and Entrepreneurship, and Technology. Located on the DLF Golf Course Road, Sector 53, Gurugram, the University has an environment friendly, world-class infrastructure, and a safe and secure campus for the students and faculty members.

Dr. Sujata Shahi, Vice Chancellor, IILM; Ms. Malvika Rai, Chairperson IILM; Shri M Venkaiah Naidu, Hon’ble Vice President of India; Dr. SY Quraishi, former Chief Election Commissioner of India and Chancellor Designate IILM; Mr. Raj Nehru, Vice Chancellor, Haryana Vishwakarma Skill University and Member, IILM Board of Governors

The inauguration event, held at IILM campus in Lodhi Road, witnessed eminent personalities, Dr. S.Y. Quraishi, Former Chief Election Commissioner and Chancellor Designate of IILM University and Shri Raj Nehru, Vice Chancellor, Haryana Vishwakarma Skill University, among many others. The evening began with Chairperson IILM Group, Mrs. Malvika Rai and Mr.Anil Rai, welcoming the Honourable Vice President of

India, along with Dr. Quraishi and Dr. Sujata Shahi. Mr. Anil Rai shared with the Vice President the vision behind the University and the Centres of Excellence. The inauguration event started with Dr. Sujata Shahi, Vice Chancellor Designate, welcoming the Hon’ble Vice President of India, Shri Venkaiah Naidu; Chancellor Designate, Dr. Quraishi; Shri

Shri M Venkaiah Naidu, Hon’ble Vice President of India with Mr. Anil Rai at IILM Lodhi Road

Raj Nehru, Vice Chancellor, Haryana Vishwakarma Skill University; Mrs. Malvika Rai; Mr. Anil Rai, and other distinguished guests, colleagues and the students. In her welcome address she said, “It is our privilege to welcome Hon’ble Vice President of India, Shri Venkaiah Naidu Ji. Sir, we are deeply honored to have you with us on this very special and momentous occasion for the IILM family. Today we remember our founder, Dr. Kulwant Rai. In some measure, this is the fulfillment of his dream. Dr. Kulwant Rai’s abiding passion was to make education available to all. His focus on education is best described in the words of Bhagawan Sri Sathya Sai Baba, “The process of education is to render the individual a happier and more useful person; it must also make him a better citizen, able and willing to further the progress of the nation to which he belongs & Sir, in December 2013, Mr. Anil Rai and Mrs. Malvika Rai met Shri Narendra Modi in Ahmedabad. Modi ji asked them to set up a liberal arts university because, in his words, “We do not want to create robots.” Our University is an off shoot of that vision to create this world class liberal arts university in Gurugram. IILM University will deliver an academic experience that fosters intellectual curiosity,

Dr. Sujata Shahi, Vice Chancellor, IILM Gurugram, delivering the welcome note

a critical thought process, self-reflection, leadership and a heightened sensitivity to one’s socio-cultural environment. Sir, our University is committed to shape a better future, create a higher quality of life, and give wings to a million dreams and aspirations with confidence, energy and passion for a greater India.” She thereafter invited the Chancellor Designate, Dr. Quraishi, to deliver his address and welcome

the Honorable Vice President of India . Dr. Quraishi highlighted that IILM University envisages becoming a leading Liberal Arts University in Asia with a focus on Entrepreneurship, Innovation and Technology and then he unfolded the IILM University vision. In his address he said: “The vision of IILM University is – Global, Inclusive, Responsible. The University has 4 Schools – Liberal Arts, Management, Technology, Design and Fashion. We have 5

courses instead of focusing solely on one field of study. Our students will have the option of a flexible degree that won’t preclude a variety of job prospects across disciplines.We will provide an integrated approach to undergraduate and post graduate education with a global outlook, supported by over thirty academic collaborations. IILM University will therefore be a responsible and inclusive center of learning.

Hon’ble Vice President in one of his recent speeches had said, “It is important for every education institution to create an atmosphere which encourages innovation, new ideas and tap the talent of the young minds.” We have at IILM Uniersity a 40,000sq ft. Incubation Center to promote entrepreneurship and inspire innovation amongst our students. The IILM Incubation Center proposes to provide mentorship and access to funds to enable our students to start up their own businesses and not depend only on jobs. Dr. SY Quraishi, former Chief Election Commissioner of India and Chancellor DesigOur University will also nate IILM, addressing the audience focus on next generation technologies in break through areas such as Artificial Intelligence, Centers of Excellence: Skills, Entrepreneurship & Robotics, the Internet of Things, Autonomous Business, Technology, Innovation & Sustainability, Vehicles and Quantum Computing. The University and Teaching, Research & Learning. shall provide linkages with Industry and work very IILM University envisages becoming a leading closely with them to help delivery of this new age Liberal Arts University in Asia with a focus on curriculum. This will equip our students to face the Entrepreneurship, Innovation and Technology. challenges of a globalized world. This century needs youth who are capable of The University’s Center of Excellence in navigating cultural differences, have a sense Sustainability and Innovation is being aligned of groundedness and are able to lead in an to promoting the United Nations Sustainable increasingly interdependent global world. Liberal Development goals. IILM has been a UN Principles education develops these qualities. It encourages for Responsible Management Education (PRME) students to explore and develop their interests,to Signatory since 2008 and works closely with the think criticallyabout issues from multiple UN Global Compact in India to promote CSR and perspectives, to communicate effectively and sustainability. become responsible leaders with a commitment To cater to the ever-growing requirement to society. of teachers, both for schools and for higher Our university shall focus on Liberal Education – education, IILM’s Centre for Teaching, Research an education that provides students with flexibility and Learning will be a special platform for the and space to explore and pursue a widerange of

exchange of pedagogical ideas. It will provide training to school and college faculty which is a critical need for the students of tomorrow. It will focus on evolving best practices of teaching and learning, redefining the role of a teacher so that the use of technology can be leveraged to facilitate learning that is relevant in the current context. We shall train teachers from K-12 schools to university, keeping in mind the vacuum that exists presently in India and around the world.” He requested the Vice President of India to inaugurate the University and release the University. The Vice President of India was delighted to be presented with a caricature of himself. The Vice President of India, Shri M. Venkaiah Naidu said that education should not only prepare our youth to face challenges of a technologically-driven knowledge society, but also make them analyze critically and come out with innovative solutions to the problems faced by people. In his address to the gathering after inaugurating the IILM University Gurugram Campus from IILM Lodhi Road Campus, he said:

Shri M Venkaiah Naidu, Hon’ble Vice President of India inaugurating IILM University

“I am extremely delighted to inaugurate IILM University. My best wishes to everyone associated with this institution. I am also glad to know that the University’s mission is in sync with the vision of Prime Minister Narendra Modi to create a new India on the basis of inclusive economic development through education and skill development among students. I am sure that IILM University is going to make an important contribution in realizing the dream of an educated and skilled India. However, it should be remembered that the education of an individual does not end by merely acquiring degrees or employable skills. Education is meant to develop a holistic personality with qualities of head and heart. As Swami Vivekananda had said, “Education is the manifestation of the perfection already in man”.

Shri M Venkaiah Naidu, Hon’ble Vice President of India, releasing the IILM University Seal

Shri M Venkaiah Naidu, Honâ&#x20AC;&#x2122;ble Vice President of India, addressing the audience

Education should not only prepare our youth to face challenges of a technologicallydriven knowledge society but also make them analyze critically and come out with innovative solutions to the problems faced by people. They should be confident of dreaming big and exploring uncharted territories. At the same time, students should remain rooted to our culture, traditions, customs and history. They should never neglect their parents, mother tongue, motherland and native village. They should always believe in co-existing harmoniously with nature for a better future. There is a need to revamp and reorient the higher education system in the country to equip students with the demands of knowledgedriven world. While, there are more than 800 universities in the country, it is a matter of concern that none of them

figures in the top ranked global institutes. Merely expanding infrastructure with sleeklooking buildings will not make an institution excellent unless it imparts education of highest standards without compromising on quality. Our universities should move in that direction by making necessary changes in the methods of pedagogy. I am glad to learn that the Vision of this University is to be Global, Inclusive and Responsible. Indian civilization has always considered the world as its family (Vasudhaiva Kutumbakam). Our commitment to the cause of climate change, solar energy and conserving nature, will hopefully, get reflected in educating students and making them globally responsible citizens. Mahatma Gandhi was the foremost proponent of this philosophy of being responsible. His seven sins -Wealth without Work,

Pleasure without Conscience, Knowledge without Character, Commerce without Morality, Science without Humanity, Religion without Sacrifice and Politics without Principle â&#x20AC;&#x201C; are guiding principles for shaping the ethical ethos of individuals, society, country and the world. I hope the University will try to inculcate such values. The University has to be inclusive given Indiaâ&#x20AC;&#x2122;s diversity and inequality. While diversity is our strength, the huge inequality poses lots of challenges. Focus on entrepreneurship, technology and skill development will help develop an inclusive, just and equal society. sciplinary education is must. I am glad to know that University intends to pursue this objective with vigor. Education in silos will not equip students for future. Liberal Education with focus on Technology, Skill Development and Entrepreneurship will serve well the students, industry and the society. Information technology coupled with various scientific advances is changing our lives like never before. Therefore, the focus should be on futuristic technologies and students need to be prepared for jobs which do not exist. I am happy to know that students doing a major in fashion or design or economics can also study Artificial Intelligence or robotics at IILM University. We need more and more such multi-disciplinary and multi-skilled youngsters to meet future challenges.

I am happy that you already started an Incubation Center. Entrepreneurship is the need of the hour. Students must be motivated to start their own businesses and not depend on jobs alone. India is a land of entrepreneurs and given the right opportunity our youngsters can excel and create global businesses. With about 65 percent of our population aged below 35 years, we need to take full advantage of this demographic dividend in building a prosperous and inclusive New India and educational institutions like IILM have a pivotal role to play in achieving that goal. I am pleased to note that IILM has been part of the United Nations Principles for Responsible Management Education initiative since its inception in 2008. The University’s focus on the 17

and the entire team and said that students should be confident of dreaming big and exploring uncharted territories and remain rooted to our culture, traditions, customs and history. In his view Liberal Education with focus on Technology, Skill Development and Entrepreneurship will serve well the students, industry and the society. The address of the Vice President was met by a thunderous applause and palpable excitement amongst the University faculty, students and dignitaries for the new education hub in the heart of Gurgaon. Mr. Raj Nehru, Vice Chancellor, Haryana Vishwakarma Skill University offered a vote of thanks and endorsed the IILM University vision.

Shri M Venkaiah Naidu, Hon’ble Vice President of India, graced the IILM University inauguration.

UN Sustainable Development Goals (a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity), and working closely with the UN Global Compact India will allow it to be a responsible provider of higher education Dr. Sarvepalli Radhakrishnan, India’s first Vice President, famously said, “The true teachers are those who help us think for ourselves”. I hope the University will have such teachers and researchers and it will also create such future teachers which we need in vast numbers. I wish the University well and may it rise to greater heights in achieving academic excellence. JAI HIND!” The Vice President congratulated the University

In his address he said, “It is a great pleasure and honor to be part of this august audience and this event where the University is going to focus on the Liberal Arts having its inauguration today with the hands of person who has deep passion for education. India is at the cusp of change, the world is also at the cusp of change. The amount of change that’s happening around the world, and the amount of innovation and disruption that’s happening all around, is triggering a lot of technological advancements. And these technological advancements are compelling and propelling growth. There is a big void happening between the values, the character, which has been

entrained in our text, our books, for last many millennials. An education which proposes itself in the area of Liberal Arts can manifest as an anchor by joining technology and the values together and making the wholesome development of the individual, combing physical, mental, emotional and spiritual elements, which is the need of the time. There is need not only to develop the physical comfort, but also to develop the emotional and spiritual comfort, because unless there is no internal comfort, unless the fears are not taken away, unless the doubts and suspicions are not taken away, there won’t be a wholesome development of an individual. Here, the opportunity that comes through liberal arts education is where you give opportunities to individuals not only to excel in the

Mr. Raj Nehru, Vice Chancellor, Haryana Vishwakarma Skill University and Member, IILM Board of Governors, giving vote of thanks

and the employer, all three are living in different worlds, this model of education will be integrating them together. On behalf of IILM University, I thank Honorable Vice President for giving his time and inaugurating this University and the stamp. I also thank all other guest, dignitaries to be part of this programâ&#x20AC;? The day ended in vibrant excitement and enthusiasm and dignitaries exchanged ideas over high tea on initiatives to be taken towards making IILM University, an exceptional institution of higher education and research. The University unique in itself will help make Gurugram an education hub of pan India with a focus to collaborate with academic institutions, companies and entrepreneurs to make an impact through creation and dissemination of applicationoriented knowledge.

area of technology, but at the same time pick up the subjects which can align the person with philosophy, psychology and with subjects that can integrate both. I am glad, to tell you that Haryana Vishwakarma Skill University, which is the first skill university in India which also tells you about changing frames around the skilling and integrating vocational education has also signed an MOU with IILM University very recently and both the universities will be partnering together to take education to more meaningful way. Where today the educator, the educatee

IILM University has designed the pedagogical experience through innovation and experiential learning opportunities both inside and outside the classroom, whereby providing a holistic development to the students. At the same time, the pedagogical experience empowers the students to deal with diversity, change and complexity, bringing them closer to their personal & professional goals. The University will follow the blended learning process where theory and realworld practices are weaved into the curriculum to make the students ready for employability. Teaching methods will include case studies,

Shri M Venkaiah Naidu, Honâ&#x20AC;&#x2122;ble Vice President of India, with the IILM Senior Management and Board Members after the inauguration

IILM University Campus, Gurugram

simulation, role plays, seminars and presentation. IILM Universityâ&#x20AC;&#x2122;s international partnerships will aid in enhancing studentsâ&#x20AC;&#x2122; ability to relate to global markets giving them an opportunity to draw informed deductions and comparisons between developed and fast developing economies. All faculty at IILM University have a Ph.D and come from myriad backgrounds. This wide mix of experience combined with extensive research and industry experience adds an exceptional learning experience for the creative minds. Faculty also acts as mentors to the students whichfosters a strong bond between the students and the teacher guiding the disciples to achieve their goals and aspirations in life. The full amenity residential campus ensures plenty of opportunity to the students to compete and collaborate on various activities. The IILM residences allow students to focus on personal,

academic and professional development during their study. IILM University also offers merit and needs based scholarship to all deserving candidates thus attracting the brightest of the minds. The scholarships are also offered for all round excellence in areas other than academics, for girl students, for wards of defense personnel, for wards of martyrs and scholarships are also considered favorably for students in cases of emergency. With great optimism, the Industry at large, eminent luminaries and students across Gurugram have all welcomed this news of IILM offering different programs through IILM University Gurugram. The academic fraternity at IILM is eagerly looking towards making the entire experience enriching where students are taken through a learning journey which is Global, Responsible and Inclusive.

Center for Skills Skills are vital to achieving sustainable, ecological, innovation-driven economic growth and societal inclusion. Skills transmute lives and drive economies. Nonetheless, few governments have successfully hewed a strategic approach to a skills program that builds bridges and engages stakeholders in delivering improved skills outcomes. Skills and knowledge are driving forces of economic growth and social development for any country. Taking the concept of central government a “Sabka Saath, Sabka Vikaas”, and its commitment to overall development of human resource, IILM University aims to provide an umbrella framework to all skilling activities which are required for the development of human resource. As individuals grow, the society and nation also benefit from their productivity and growth. Systematic, sustained and concerted action is required to significantly enhance the creative and innovative capacities of young people in ways that are relevant to skills development and employability. The core objective of the Center is to empower the individuals by enabling them to realize their full potential through a process of lifelong learning. Innovative models and models based on best practices will be incorporated to further strengthen the skill development ecosystem. Policy challenges, interactions and trade-offs and their inferences for the development of appropriate skills, the stimulation and the effective use of skills is what the Center focuses on as well as organizing an extensive range of expertise to develop

critical and analytical tools, encourage peer-learning and carry out skills strategy projects personalized to the specific needs of the economy to build more effective skills systems. This will involve: • Addressing human resource needs by aligning supply of skilled workers with sectorial requirements of industry and the country’s strategic priorities including flagship programs such as “Make in India” • Promoting increased participation of women in the workforce through appropriate skilling and gender mainstreaming of training • Increasing the employability of the youth of Haryana through an exclusive endeavor of train-

holder companies, employers, associations, forums and education providers through a sequence of interactive seminars and workshops designed to stimulate engagement and cultivate a shared vision, and securing their assurance for taking action to transmit better skills results. • Encouraging peer learning to broaden and expand understanding of methodologies to tackle skills tasks based on tangible instances from other economies in areas such as primary education, adult education, vocational training and teaching, labour and product market policies, skills valuation and assessment systems, tax and investment policies, innovation, technology and economic development policy.

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The core objective of the Center is to empower the individuals by enabling them to realize their full potential through a process of lifelong learning. ing in support competencies like communication skills, English & basic computer literacy • Promoting entrepreneurship as a viable career option through advocacy and enhancing support for potential entrepreneurs through mentorship & networks • Integrating entrepreneurship education in the formal education system The Center will have the following unique contributions: • Connecting with diverse stake-

• Liaising with government national and state project teams whose delegates are selected by the government and are picked from relevant departments such as education, service, corporates, economy and finance amongst others to diagnose skills challenges and the responses to resolve them. Dr. Aayushman Gupta Professor & Ruchi Shah Assistant Professor

Center for Entrepreneurship and Business The vision of IILM University is to promote the cause of entrepreneurship. The Center complements the vision of the University. As a Center of Excellence in the area of Entrepreneurship and Business, it will attempt to create an ecosystem of fostering entrepreneurship and startups. The Center for Entrepreneurship and Business is an innovation hub where ideas, people, resources, and technology will meet and create the future. The Center will provide active learning experiences to all students and faculty at the University through programs that are designed to teach the skills needed to successfully translate high-potential projects and ideas into the world. On learning these skills, individuals become better prepared to identify and act upon opportunities to solve problems in any organization, or entrepreneurial endeavor. The Center will work closely with IILM Incubation Centre within campus to actually support in scaling up ideas found to be worthwhile by the investors.

The Center will act as a platform where entrepreneurs, investors, students with bright business ideas, faculty members, business and legal experts can come together to help the startups going. Conferences, business plan competition, investors meet and pitch are some of the initiatives that the Center with hold to support business goals while academic support will come through interdisciplinary research in the field of entrepreneurship and emerging business models. The experts of the Center will also offer consultancy to start ups. The Center is proposing to have wide ranging collaboration with institutions which promote entrepreneurship. Incubators, Accelerators, VCs, PEs, Angel Investors, Mentors, and Government Organizations will all be part of the eco system of this Center. With Active Partnership of UN Global Compact, the Center will focus on Social Entrepreneurship. A part of the eco system will also coordinate with Industry organizations like FICCI and CII. A special focus area would be to support women entrepreneurs. The Center will offer short term courses, Management Development programmmes and certificate programmes which will help entrepreneurs to gain knowledge and skills which are required to succeed. The focus area of the Center will be Design Thinking and Technology which will be key to entrepreneurship of the future. Design Thinking

is a process and mindset for innovation that begins with empathy to identify and understand problems and needs. It is about diversity of skills, experiences, cultures, and viewpoints and team work to generate lots of ideas that build off of each other. These ideas are tested in the field with “quick and dirty” mockups, key lessons from what worked and what didn’t are captured, and the whole process is repeated. The results of Design Thinking aren’t just physical products; they can be solutions, systems, services, or even experiences. The Center will promote women entrepreneurship and intends to become a platform where potential investors meet potential innovators and entrepreneurs. It intends to promote the objectives of startup India, the flagship initiative of the Government of India, which is intended to build a strong eco-system for nurturing innovation and startups in the country which will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower startups to grow through innovation and design. The Center will be part of the movement of entrepreneurship which hopes to accelerate spreading of the startup movement: • From digital/ technology sector to a wide array of sectors including agriculture, manufacturing, social sector, healthcare, education. • From tier 1 cities to tier 2 and tier 3 cities including semi-urban and rural areas. The Center intends to train entrepreneurs and connect them with angel investors, venture capitalist and also with Incubators and Accelerators. The Center intends to run short term programmes for its outreach to small and medium enterprise to take them to high growth path. The main aim of the Center is collaborative and interdisciplinary research to make knowledge work for entrepreneurs. In this regard, the Center will have tie ups across India and the world to promote the cause of business, innovation and entrepreneurship. The Center seeks active participation of experienced industry professionals to become mentors and also successful entrepreneurs to be become Entrepreneurs in Residence to guide startups.

Rahul Mishra Professor

Center for Sustainability and Innovation With Sustainability and Innovation becoming central themes of economic and social development, IILM University has established a Center of Excellence revolving around the applicability of those ideas and their overall impact. In September 2015, all 193 Member States of the United Nations adopted a plan for achieving Sustainable Development and 17 associated goals (SDGs) to fulfil by the year 2030. UN Global Compact is an active participant in the implementation of SDGs. The role of private sector companies is becoming more important to work towards these SDGs. Sustainability and Innovation are becoming core of all activities of many companies The Center for Sustainability and Innovation has been inspired by the blueprint which UN Global Compact has written for Business Leadership on the SDGs. Business cannot thrive unless people and planet are thriving. This includes ensuring that the world is on a path to meet all 17 Sustainable Development Goals (SDGs). The 2030 Agenda for Sustainable Development (2030 Agenda), with 17 SDGs and 169 targets, is a plan of action for people, planet and prosperity. The SDGs are universal, transcend borders and apply across the workplace, marketplace and community. The SDGs are deeply interconnected – progress on one goal can have a significant impact on progress in meeting others. Business cannot thrive in a world of poverty, inequality, unrest and environmental stress, and so it has a vital interest in ensuring that the 2030 Agenda is delivered. IILM has been the signatory of United Nations PRME (Principles of Responsible Manage-

again. Leadership on the SDGs is defined relative to the performance of others and the changing business environment.

International Institute of Sustainable Development defines Sustainability Practices as “for the business enterprise, sustainable development means adopting business strategies and activities that meet the needs of the enterprise and its stakeholders today while protecting, sustaining and enhancing the human and natural resources that will be needed in the future.” The Center The Center intends to conduct research in the area of sustainability intends to and how innovation can strengthen conduct the sustainability practices in companies and society. The research in research will be collaborative in the area of many ways. The Center will allow academicians of all disciplines sustainability from other institutions to conduct and how research on the applicability of sustainability practices. The ideas of innovation can frugal innovation will form key part strengthen the of that research.

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sustainability practices

ment Education) of UN Global Compact as a champion business school since 2008. It was accorded the status of advanced signatory in 2013. Business leadership on the SDGs evolves through repeating three steps: prioritize, act, and learn. Leadership evolves as a company responds to change by repeating a threestep process depicted in Figure 1: first, it prioritizes actions on the SDGs; second, it acts on these priorities; and third, it learns from its impact on the SDGs to improve its own and help others improve their actions, re-prioritize and thus start the cycle over

The Center is also going to collaborate with United Nations Global Compact, India and its member companies. It will bring together both practitioners and academicians to develop new ideas, technologies, reports, business models. The Center will promote interdisciplinary ideas and writing of books and action plans. It will be promoting these ideas by organizing conferences, and conducting short term certificate and management development programmes. The Center will also promote the key competencies in the area of CSR (Corporate Social Responsibility). CSR funds have been mandated by the Government of India to be utilized for social development and the Center will be part of the eco system of providing consulting

to companies to design and monitor better CSR programmes related to SDGs. Last year, Forbes Magazine listed Siemens, the German industrial conglomerate as the best company in the sustainability practices. It was the most energy-efficient firm in its sector producing more revenue per kilowatt used than any other industrial corporation. Siemens scored high on nearly every metric in the ranking, such as having a low carbon footprint and low employee turnover. The conglomerate is also dedicating a growing portion of its business to creating environmentally friendly infrastructure with products such as green heating and air conditioning systems.

The blueprint of Global Compact is good model where the Center intends to develop consulting at every stage to make viable model for sustainable practices. These steps, as defined by Global Compact are given below: Prioritize A leading company undertakes a principled prioritization of actions based on their potential contribution to the SDGs. This entails a thorough assessment of the companyâ&#x20AC;&#x2122;s greatest risks of negative impact throughout its end-to-end operations and where it can adopt practices that will maximize positive impact for the SDGs. Act When priorities are set, a leading

company takes time and context specific action that embodies five equally important leadership qualities: Intentional, Ambitious, Consistent, Collaborative, and Accountable. These are summarized in the next section. Learn A leading company commits to learn about the impacts of its actions on the SDGs, sharing lessons both internally and externally. Ultimately, the interconnectedness of the SDGs means that the leading company must adapt its business in all areas where it influences the 2030 agenda. Rahul Mishra Professor

Center for Technology Technology is used in almost everything today and hence is an important factor of our lives. People cannot live with these technologies, be it mobile phones, Artificial Intelligence or social media etc. These technologies have slowly taken an essential part in dayto-day life and the world has become unimaginable without them. A lot have been achieved with the help of the technology. It has made it possible to cure many illnesses, to be in touch with friends anywhere in the world, made it possible to travel. It has provided means of more freedom and choices to the people. Apart from our personal lives, technology is present in business life also and has been running in all sectors, no matter which industry

you are into. For example, retail industry is using Internet and technology to manage inventory, track customer-purchasing habits, predict trends and even the delivery of goods and services. Similarly, Internet and technologies are used in health care systems to coordinate services and team members to deliver quality care by integrating health history, screening results, treatment plans and other complex information from multiple providers. Even the blockchain technology has revolutionized the way of conducting business across many industries. It was originally developed to the Bitcoin crypto currency in the form of a distributed ledger to track the transaction, connecting the transaction with each other to encrypt the information securely. Even the tech-

nology has affected the touch commerce, the way of buying or shoping, which has allowed customers to buy anything with the touch of a finger. Technology has an unquestionable impact regardless of age. Advancement in technology has changed the world in terms of the purchase of the product, communication, in terms of learning. Technology has literally changed every aspect of the way any business operates and that change has occurred so fast which is never before seen in the history. Discussed below are the eight ways in which technology has fundamentally changed businesses: Mobile Solutions The next big thing that has happened in business is â&#x20AC;&#x153;Mobilityâ&#x20AC;? which has forced even Google

to revamp its algorithm to prioritize websites to make web browsing through mobile easier. All the business tasks today can be handled from remote location through the smart devices or tablets. The technology has made every business activity including sales enablement, content marketing and customer relations through back end process like invoicing or shipping etc., possible at the click of a button. Mobiles are not used by business but also are used by consumers to such an extent that these devices are used to buy, shop, and share the retail experiences with everybody. This new paradigm has rewritten the concepts of business. Cloud Computing This is a new technology which has allowed the business to move their IT infrastructure and operations to the on-demand computing model. This has allowed the organizations for on-demand (rapid) expansion and mobility without the fear

tomers are shopping at nearby businesses to send targeted promotional communications. Thus the integrated digital technology has been able to create a hyper-real web of real time information. Social Impact Technology has figuratively shrunk the world and users are able to connect without any geographical obstacles, financial background or even social status. The social media has given the chance to the customer to rate and review the product and organization. Hence businesses, large or small, Businesses are more worried because of the instant impact on their brand by consumer dissatisfaction expressed on social media which gets propagated instantly. Social media also enables businesses to expand their marketing outreach at less cost as compared to traditional marketing.

Decreased Cost Or Increased Functionality Technology has also evened the things such as overheads associated with Technology has literally changed every running a business. There is no longer aspect of the way any business operates any requirement of the so called brickand-mortar storefront. The cost of and that change has occurred so fast starting a new business and becoming which is never before seen in the history. an entrepreneur has dropped considerably in the recent years due to the advancement of technologies that founders can of downtime, crashes or permanently lost data launch a venture from home. Researching and or even moving IT expenses from CAPEX to OPEX reaching for the potential clients can all be done as you pay for what you consume, scalability and online and the early stage functions can be hanavoiding technology obsolescence. dled by software. Extreme Customer Segmentation With the availability of Big Data, it is easier to understand the Thus, technology has allowed man to move from customers organizations are looking for. With the manual labor of the fields to cities and machines. help of data analytics, it is easier to segment the It has helped in increase productivity by moving prospect customers more minutely so as to target from labor based creations to knowledge based them specifically. Services provide more in depth economy and has created different jobs in almost information about the customers such as the locaall sectors. It has spawned the growth of modern tion of the visitor, type of browser they are using, society. how they found the website, their activities while At IILM University, we have three centers of excelthey are on it, time duration of their stay on the lence. One of them is Center for Technology. The site and the point at which they decided to leave objective of this Center is to nurture the technolthe site. This helps the organization to refine their ogy which is affecting our lives remarkably. IILM processes, offerings, and approach to dramaticalUniversity provides the platform to the students ly increase conversions. under this umbrella to perform research and practices identify, select, acquire, exploit and protect Connectivity technology for business benefit. The technology has allowed the organizations to collaborate with their coworkers and employees through text/ video chat at a momentâ&#x20AC;&#x2122;s notice. Dr. Richa Bhargava Even the organizations are able to identify their Associate Professor potential prequalified customers when the cus-

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Liberal Arts Education- Towards New Frontiers “The value of college education is not the learning of many facts but the training of the mind to think” – Albert Einstein This century has witnessed unprecedented technological changes which are transforming our lives globally. Today, we need youth who are grounded and capable of navigating rapid changes and cultural differences to be able to lead in this increasingly interdependent global world. Liberal Education develops these qualities. It encourages students to explore and develop their interests, to think critically about issues from multiple perspectives, to articulate their ideas effectively

gy), mathematics, philosophy, religious studies, as well as fine arts ( music, performing arts, literature). The aim of Liberal Arts Education is to develop independent intellectual thought and critical thinking. Its essence lies in cultivating one’s mind to the fullest potential and to liberate oneself from the narrow confines of prejudice, dogma and superstition. Why Liberal Arts? The tradition of Liberal Arts Education is not new to India. At the classical Indian centers

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Liberal Arts Education opens doors, enabling the mind to pursue knowledge and understanding wherever that path may lead. and become responsible leaders committed to society.

What is Liberal Arts Education? Derived from the latin word’ liberalis’ meaning free and ‘ars’, art or principled practice, Liberal Arts comprises of subjects or skills which in classical antiquity were considered essential for a free person to take an active part in civic life. Liberal Arts Education (LAE) does not focus on just the arts. It is inclusive of the natural sciences (biology, chemistry, physics, astronomy, earth science), social sciences (anthropology,economics,geography,history,linguistics,jurisprudence, political science, psychology, sociolo-

of learning, Takshashila and Nalanda, students came from across the world to study language, philosophy, Ayurveda, politics, warfare, astronomy, commerce, fine arts and much more. These institutions trained some fine scholarly minds from India, China and Japan. Chanakya and Panini were among them. Such centers of Liberal Education encouraged broad ranging education aimed at holistic development. Over time, however, our system of education evolved in a manner which narrowed the spaces for students to discover and explore their interests and passions. Liberal Arts Education seeks to redress this

by foregrounding this key need among young people growing up in the 21st century. It enhances the space for students to explore education as a multidisciplinary space where they may acquire wide-ranging skills and a multi-faceted worldview. It encourages students to think beyond their own perspectives and develop empathy for multiple perspectives even when that challenges their own views. Logic, reasoning and intellectual openness broaden the mind and enable individuals to gather and process information so that they may make informed decisions based on reason not emotion. In short, Liberal Arts Education opens doors, enabling the mind to pursue knowledge and understanding wherever that path may lead. IILM University Edge IILM University envisages becoming a leading Liberal Arts University in Asia with a focus on Entrepreneurship, Innovation and Technology. Liberal Arts education at IILM will empower students and prepare them to deal with complexity, diversity, and change. It will provide them with broad knowledge of the wider world (e.g. science, culture, and society) as well as in-depth study in a specific area of interest. Students will develop a sense of social responsibility as well as strong and transferable intellectual and practical skills applicable in real-world settings. Liberal Arts will prepare them for many possible careers, meaningful lives and service to

society. The key aspects of Liberal Arts Education at IILM University are: Exploration of Individual Interests - IILM University will provide students flexibility and space to explore and pursue a wide range of courses instead of focusing solely on one field of study. This is a significant departure from the practice of following same curriculum chosen by students in their high school. This freedom to make informed decision puts them on an accelerated path to achieve their goals. Flexible Curriculum- The curriculum structure for undergraduate Liberal Arts Education is flexible and extensive. With over 180 plus possible combinations, students are encouraged to build their own bouquet of courses. The main elements of the structure are the major, minor, experiential, I star and foundation courses. Unusual co-curricular courses in subjects such as yoga, music, theatre, culinary arts etc. cater to studentâ&#x20AC;&#x2122;s every hidden inclination and helps bring it to the forefront. Through compulsory sessions on critical thinking in the first two semesters IILM is preparing students to navigate the dynamic and complex future that lies ahead of them. Builds Holistic Perspective - At IILM the interdisciplinary study allows students to make connection between ideas and concepts across varied disciplines. They are exposed to a series of educational and practical experiences that make them well-rounded individuals, not boxed in by the principles of a single discipline. Students

learn to apply cross functional knowledge and enhance their capabilities in taking independent decisions. They learn to read critically, write cogently and think broadly. These skills elevate conversations in the classroom and strengthen social and cultural analysis. Learn Broad Range of Skills -Todayâ&#x20AC;&#x2122;s global economy requires Liberal Arts Education for success. Skills taught in Liberal Art tradition at IILM are useful in any career. The employers want new hires with the skills such as critical thinking, complex problem solving, and written and oral communications which come through Liberal Arts Education and are central to a great career and a well-lived life. Real Time Experiential Learning- IILM University of Liberal Arts Education incorporates the best of content, courses and knowledge along with the best in contemporary pedagogy in terms of experiential learning, use of technology, grass-roots immersion and mentorship. Experiential learning supports students in applying their knowledge and conceptual understanding to real world problems. The crux of learning occurs during the reflective process where students assess their decision in the light of the natural consequences, mistakes and successes. It has elements of reflection, critical analysis and synthesis and opportunity for students to take initiative. It engages students intellectually, creatively, emotionally and socially. I-Stars- These are a series of innovative seminars delivered in the areas of interest for students. Stepping out of the traditional classroom setting,

using contemporary teaching methods, immersing into outof-box thinking I-Stars develop participants into thought leaders and responsible global citizens. I-Foundation-Majority of undergraduate programs in India force students to choose between narrowly defined streams of science, commerce, arts, etc. At IILM students have a distinctive opportunity to explore different domains of knowledge before choosing their specialization. I-Foundation are fundamental to establishing the academic framework for all students. They are ingrained in the philosophy of Liberal Arts which stimulates the quest for knowledge. They set the stage for shaping personal interests and academic direction of students and equipping them with tools of logical and structural reasoning. Courses with a Global Perspective- At IILM, Liberal Arts Education is rooted in habits, practices and skills that are at once timeless and urgently needed in our globally connected world. Courses across the IILM curriculum provide a global perspective. Looking Forward The global world is changing very fast and our young college graduates will have to deal with disruptions in the coming decades. No longer can they just garner specialized skills. Instead, they need 21st century skills that will allow them to evolve with the changing time. The time has come for India to embrace and carry forward its rich legacy of Liberal Arts Education into the 21st century. Dr Shuchi Agrawal Director, IILM UBS

Design & Fashion Industry in India: On the threshold of Expansion The current Fashion Retail Market in India is estimated to be worth US $46 billion and is expected to grow at a promising rate of 9.7% p.a. so as to reach US $115 billion by 2026. Similarly, areas like Product Design, Interaction Design, Luxury Design, Animation Design, Gaming, Graphic &amp; Interior Design have shown a stupendous growth in the last few years. Luxury goods continue to register remarkable growth in India. According to Euromonitor International report

titled “Luxury Goods in India” (February, 2018), luxury goods continue to evolve in India. This growth is primarily driven by rise in number of consumers interested in luxury brands. Luxury goods are posting healthy growth in general, with most significant increases being seen in (i.) luxury leather goods (ii.) designer apparel and footwear (ready-to-wear), and (iii.) luxury jewellery. Products in these three areas are available through wide retail coverage and are highly preferred by local consumers. The designer apparel and footwear (ready-to-wear) market

in India has witnessed a rising demand because of the premium image associated with designer labels. This has led to a growing presence of designer brands with clear differentiation between pure luxury and affordable luxury brands. Brand Marketing India continues to lead sales with a shift towards luxury accessories and a growing focus on offering comprehensive ranges meeting all consumer needs. Similarly, luxury jewellery in India has caught up in a big way. Occasion-centric purchases have paved the way for everyday jewellery. Additionally, men’s jewellery has come

Ms. Darshana Srivastava, Head-Visual Merchandising, GAP India, Arvind Lifestyle Brands Limited, giving prize to one of the winners at the Design Workshop organized at IILM University, Gurugram.

to the forefront, with a higher demand for more expensive items for men. However, jewellery remains highly fragmented with strong competition from domestic players and rising online jewellery sales.

ing a prominent space for themselves and major International players are finding a sustainable sales base in the country. These players are attracting more consumers by offering affordable luxury.

Regarding luxury leather goods in India, the consumers

Luxury eyewear is a popular choice among women. Multi-

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According to Euromonitor International report titled “Luxury Goods in India” (February, 2018), luxury goods continue to evolve in India. are shifting towards fashion from functionality with women continuing to dominate sales and overseas purchases hindering local sales. However, certain Indian brands are mak-

brand retailers dominate its distribution with a growing focus on brand name rather than the retailer. Also, increasing availability and visibility of luxury eyewear brands and the clear

price distinction between affordable and pure luxury brands further add to the growth of this market. Moreover, store-based retailing remains a dominant channel for luxury goods. The trend, where consumers are checking out luxury goods physically before making a purchase, continued during 2017. Consumers in India associate luxury goods as a big investment. The demand for luxury goods is expected to remain strong in the years to come. Luxury goods sales is a relatively small area and still in an early stage of development with plenty of opportunities for growth. As a result, demand is expected to remain strong in India over the next few years.

Participants of the Design Workshop with Mr. Mukesh Singh, Asst. Prof. at IILM, Gurugram

MoU between IILM University and Haryana Vishwakarma Skill University

We are proud to announce that IILM University signed its first MoU with the Haryana Vishwakarma Skill University (HVSU), India’s first skill university, on 18th April, 2018. The objective of this partnership is to promote skill education in an integrated and holistic manner opening pathways for progression and mobility. The aim is to provide a aspiring youth with a new platform that will identify and develop higher level of skills enabling them to obtain suitable job opportunities in the Corporate/ Industrial sector. In addition, this partnership, by facilitating exchange of teaching faculties between the two institutions, will empower both the institutions with higher educational

deliverance capabilities. IILM University aims to impart world-class knowledge and training to both students and working professionals based on the occupational standards of the sectors. These training programmes of international standard will equip the youth of our country to meet not only domestic expectations but also international ones. Customized, need-based programmes, aligned to specific age groups include Language and Communication Skills, Life and Positive Thinking, Personality Development, Management Skills, Behavioural Skills well as Employability Skills. To implement its objectives, IILM University and HVSU will work in synergy, in the field of Skill

Development from school to college level by co-developing appropriate courses and programmes with a focus on meeting the skill demands of the Corporate/ Industrial sectors in the current and emerging areas, they will enable experiential learning through flexible entry and exit, credit accumulation and transferability and blended learning methodologies of simulation and gamification. The focus of this joint effort, following the UGC / AICTE / State government guidelines, is on “Entrepreneurship and Skills of Tomorrow” In conclusion, this structured skill development model will improve performance of the institutions and inculcate a spirit of entrepreneurship among the students increasing employability.

Signing of MOU between IILM University and Haryana Vishwakarma Skill University

The second edition of “Words in the Garden” cohosted by IILM Institute was held on 24 th and 25 th February, 2018, at India International Centre, New Delhi. The festival, based on the theme “Ghalib ki Dilli”, was organized to commemorate the 220th birth anniversary of the poet, Mirza Ghalib. The two day festival was a convergence of some of the most brilliant and inspiring artists in the fields of literature, art, social sciences and public spheres. The session names were interestingly borrowed from famous words of the poet. The inaugural session called “Zahraab Ugata Hai Mujhe” was a discussion featuring poet, Shri Shamsur Rahman Faruq; poet, Shri Ashok Vajpeyi ji ; author, Pavan K Varma and Mrs. Malvika Rai. This was followed by a delicious dinner representative of 19 th century Delhi cuisine curated by Salma Yusuf Hussain, a food curator.

The festival began with the screening of the movie “Mirza Ghalib (1954)” depicting the life and times of of the poet. It told the story of Mirza Ghalib’s tragic, ill-fated love for a beautiful courtesan, Chaudvin and his triumphs and failures ultimately resulting in his descent from a wealthy poet and nobleman to a life of poverty and penury. The next highlight was a play named “Ghalib ki New Delhi”, a satire on society exhibited through a series of interesting difficulties that Ghalib would have faced had he been born in the present era. Thereafter, Mr. Bishwajit Bhattacharrya with his group of musicians took the audience on a musical journey through time with old Bollywood songs that correlated with the themes of Ghalib’s poetry: Shahar-e-Aarzoo; Tamasha Mere Aagey; Ajab Waqt and Gham-e-Hasti. All the programmes were well received by the audience.

Lighting of the lamp by Shri Ashok Vajpeyi , Shri S R Faruqi and Shri Pavan K Varma

Inaugural session with Mrs. Malvika Rai, Shri S R Faruqi, Shri Ashok Vajpeyi and Shri Pavan K Varma

The next day brought a series of workshops on Calligraphy and Photography. Naqsh-e-Ghalib was a workshop where a renowned Delhi-based calligraphy artist, Ms Shipra Dutta, demonstrated and taught the participants some nuances of this art from. The photography workshop by Ms Shoba Jolly that revolved around travel, landscape, street and fine art photography, discussed some classic rules of great photography. These vibrant and interactive sessions had participants actively participating in discussions and learning new and unique techniques of both the art forms. This was followed by a piano recital by Sahil Vasudeva, a young and talented young classical musician who is credited with bringing the piano out of conventional spaces into the arena of performance art. Mehfil-e-Shayari had the audience spell bound with the soulful recitation of Mirza Ghalib’s poetry with English translations by Murad Ali, the mesmerizing timbre of sarangi proving completely captivating. William Dalrymple, Mridula Garg, Anurag Batra and Vikram Lall discussed the interpretation and definition of Ghalib’s concept of Delhi “Shahar-e-Aarzoo” or “The City of Desire” in the current times. Their interesting points of views meandered and wove around the fact that despite Delhi having changed over the years, it has managed to retain its basic essence justifying it still being labelled “The City of Desire”. The session “Gham-e-Hasti”

had Om Thanvi, editor of the prestigious Hindi daily in conversation with Adhik Kadam, cofounder of an NGO working in Kashmir’s hostile environment during the course of which they shared the pain of common people, a poignant reminder of the pathetic living conditions at the grass root levels. In “Aakhir is dard kee dawa kya hai” Mr.\ Adhik Kadam spoke about his social work in many remote areas of Jammu and Kashmir highlighting the role of his NGO “Borderless World Foundation” towards welfare activities. At the

Poetry Recitation by Murad Ali

end of this well attended session, Mr Kadam was flooded with questions that he answered drawing in the audience into discussions. The next session was appropriately called “Sukhan Gustaraana Baat” from Ghalib’s verse “maqt-e mein aa pari hai sukhan gustaraana baat” which translates to “I wrote something in the ‘sher which became popular”. During this event Vaishali Mathur gave a glimpse into the world of publishing, and discussed the intricacies of decision making involved in identifying writing styles. The last event was “Ghalib Baithak” where Team Parwaz, in a scintillating evening, traversed through Ghalib’s life, times and his poetry giving the audience a peek into the poet’s personality by interspersing the session with anecdotes about the poet’s wit and humour. “Mehfil-e-Ghalib” with Radhika Chopra singing Mirza Ghalib’s ghazals in her crisp and clear voice with an impeccable Hindi and Urdu dictation was a fitting grand finale for the festival.

William Dalrymple speaking on “ The city of Desire”

Mehfil-e-Ghalib by Radhika Chopra

The Second edition of “Words in the Garden” was an endeavor to defuse literature along with art and ideas. The event proved that art and literature have no geographical boundaries and all walls crumble where art, music and literature are concerned. It was a unique opportunity for the audience to witness and take part in stimulating discussions, invigorating sessions, meet their favorite authors, poets, musicians and influencers. With this the next edition of our festival “Bapuji ki Dilli” was also announced.

Poetry reading by Mr Azad Sharma

Principal’s & Senior Educator’s Meet at IILM University Gurugram IIILM University, Gurugram, organized a Principal’s & Senior Educator’s Meet on 7 th April, 2018. The event, that saw participation from over 50 schools in Delhi NCR, was a huge success. The objective of the meet was to encourage and advance IILM University’s initiative of adding value to students and teachers at the school level. IILM contributes actively towards nurturing students and preparing them to shape the future of the world. It regularly conducts skill-based workshops for students and teachers with training modules that foster and boost their ideology.

Mr. Raj Nehru, Vice Chancellor, Haryana Vishkarma Skills University & member of the Board of Governors at IILM University, delivering his keynote address

The event began with the welcome address by Dr. Sujata Shahi, Vice Chancellor designate, IILM University Gurugram. In her address she highlighted the 25 year legacy in responsible education and the foray into diverse course offerings. The philosophy of Liberal Education was introduced to the audience. This philosophy empowers students to pursue their passion in IILM University. She pledged support to all schools and senior educators in their education initiatives to develop a progressive society.

The keynote address was delivered by Mr. Raj Nehru, Vice Chancellor Haryana Vishkarma Skills University & member of the Board of Governors at IILM University. In his address he stressed upon the need for skill development to make our students ready for jobs in the future. He expressed appreciation to IILM for taking this initiative and starting a positive trend in connecting schools to Universities. The second keynote address was delivered by Dr. Maina Singh, Director teaching & learning at IILM University. She shared the concept of Liberal Arts education and the growing need for acceptance of such courses. She emphasized on IILM Universitie’s approach to Liberal Education and how it intends to create a difference in the field of education. Her talk was greatly appreciated by the audience. The theme of the meet was “Approaches to School Governance & Changing role of Schools”. This theme was further divided into several sub topics. The event was conducted in the form of a panel discussion. The panelists constituted of Policy Makers, Government Officials, Principals, Directors, Child Psychologists and other Opinion Leaders. The first panel focused on “Approaches to School Governance”. It consisted of Mr. S.L. Jain, Educationist and Director, Mahavir Senior Model School Delhi; Mr. K. Suresh, Professor & Head Department of Education NUEPA; Col. Kr Pratap Singh, Chairman Haryana Progressive School Council. This session was moderated by Dr. Sandhya Prakash, Professor Finance, IILM University.

Panelists Mr. S.L. Jain, Educationist and Director, Mahavir Senior Model School Delhi; Mr. K. Suresh, Professor & Head Department of Education, NUEPA; Col. Kr Pratap Singh, Chairman Haryana Progressive School Council and Dr. Sandhya Prakash, Professor IILM University, Gurugram

Dr. Sandhya opened the discussion with the following views a good governance is a set of responsibilities, practices, policies and procedures exercised by an institution to provide strategic direction to ensure objectives are achieved and resources are used responsibly and with accountability. Good governance practices support schools to manage their resources so they can deliver quality education. The discussions was very insightful and highlighted several aspects that needed attention of educational institutions and policy makers.

a facilitator, increasing expectations of parents, and the changing role of students. In collaboration with stake holders, schools need to impart value based education to make students responsible and global citizens. Some of the discussion points that emerged from the panel were bridging the gap between schools and college, effective handling of behavior of school children, role of technology in school education, and the changing profile of students and its impact on schools.

The discussions that emerged from the panelists was of tremendous value for all attendees. It provided the institutions with a direction for the future course of action. IILM University Gurugram is committed to creating this platform for schools every year. The Principals of leading schools of repute were very appreciative of this event and expressed their intention to scale it up to the next level with their support. The event was well received by all attendees and resulted in exchange of ideas. It Panelists Dr. Jitender Nagpal, MD, DNB, Sr. Psychiatrist Moolchand & Program gave an opportunity to Director Expressions India; Mr Rajdeep Sherawat, Head of Global Business, Tata the Principals and Senior Consultancy Services; Mr. Nishcint Chawla, Director Heritage Xperiential School Educators from the best Gurugram; Ms. Rachna Pandit, Principal DPS Rishikesh & Moderator; Ms. Aditi schools in India to mingle Misra, Principal DPS Sector 45 Gurugram and network with each other to exchange ideas. The second Panel discussion was centered on â&#x20AC;&#x153;Changing role of Schoolsâ&#x20AC;?. The esteemed panelists consisted of Dr. Jitender Nagpal, MD, DNB; Sr. Psychiatrist Moolchand & Program Director Expressions India; Mr. Rajdeep Sherawat, Head of Global Business, Tata Consultancy Services; Mr. Nishcint Chawla, Director Heritage Xperiential School Gurugram; Ms. Rachna Pandit, Principal DPS, Rishikesh. The panel was moderated by Ms. Aditi Misra, Principal DPS, Sector 45, Gurugram. They discussed the ever changing role of the school with the introduction of technology, changing role of teachers from Instructor to

Winds of Change through Social Media For every action there is an equal reaction and a social media over reaction…the eternal optimist that I am, I would like to believe that it is positive. Technology and Social Media have brought power back to the people like never before. It is rightly called the double edged sword that provides opportunity to everyone to speak, often bringing unprecedented and much needed attention to issues by sharing a collective outrage. This is quite beautifully explained by the expression,“ voice to the voiceless”. Let us not look at Social Media as an exploitation of technology but as a catalyst for the advancement of peoples’ rights. It is a platform where thousands can fight for a cause whether global or local, popular or not so famous. The miles between boundaries, countries, caste and creed cease to exist within this medium. Every time we post, like or share, we contribute to our own digital footprint and personal brand. Every young adult who understands this can make social media work to his/her advantage. In the field of education, Social Media can be a life and a game changer, both in and out of institutions. It establishes thriving student communities across the globe bridging quality gaps for collaborating, connecting and, learning together. It has to be viewed as an idea generator and a trend mapper seeing the mass participation ushering in change or a revolutionary shift in opinions …we have an interesting word for it today – “going viral”. In fact, Social Media is a community effort and everyone is an asset. It is rightly said that it is more about sociology and psychology rather than about technology. The power that students wield through is unimaginable! They can mobilize an entire nation if they set their minds to it. Civic participation and governance has undergone change due to Social Media. Citizens are now sources of ideas, plans and initiatives for various government bodies which have Social Media Platforms dedicated to their vision and a mission. Hence, direct citizen inputs help spearhead many government initiatives ushering in change. The time is ripe to recognize online behavior and personality of an individual and how it influences supporting a cause. Deliberation and debate on Social Media about an idea, situation or purpose

Anupama Mehra, Senior Head Mistress, Manav Rachna

resonates with the young generation. In a world without boundaries, ushering in changes in any sphere, in the minds of the youth, is effortless. To quote Torben Rick in his article, Using Social Media for Change Management – “cultural change or any process of change is about people”. And to influence people is about undoing old attitudes, beliefs, values, and opinions and embracing the new! And Social Media Platforms are perfect mechanisms to usher in changes and widespread support. Never before has the word “trending” been used to study patterns by any industry. Social Media’s role actually needs to be made bigger in organizations - listening, sharing, blogging, generating a buzz, trending and e-marketing are the new age rules. This is the future and Social Media is here to stay. We need to embrace it and use it effectively otherwise we are extinct!

Anupama Mehra Head Mistress, Senior School Manav Rachna International School, Sec 46 Gurugram

Young Citizen Award for Innovation & Social Impact The vision of IILM University Gurugram is to be Global, Inclusive and Responsible. One of the steps we are proposing to take in the fulfilment of our institution goals is to make young children aware of the social problems around them. For this, we have launched theIILM Young Citizen Award for Innovation and Social Impact in collaboration with UN Global Compact. This is an initiative to create social awareness among school children and sensitize them to come up with innovative ideas and sustainable solutions for social issues. IILM has a 25 years legacy in responsible higher education. In fact, IILM is an Advanced PRME Signatory, designated by United Nations Global Compact, an initiative of the United Nations. As one of the champion Business Schools of the UN, IILM is committed to take the case of responsible management to educational institutions and corporates across South Asia and beyond. Since its inception in 1993, IILM has been at the forefront of responsible management education, pioneering integrated learning and focusing on practice-based education. Our collaboration with UN Global Compact for this initiative is aligned with the sustainable development goals that they endorse. The key objective of the IILM Young Citizen Award for Innovation and Social Impact is to create a pool of socially impactful innovative ideas that can be further developed to commercially viable solutions to the socio-economic problems of India. It aims to encourage young school children to engage with ideas of citizenship and commitment to civic values by encouraging innovative ideas from students to create social impact in the world that surrounds them. The Key Focus Areas include: •Sustainability •Gender Justice •Inclusion •Diversity •Responsible •Social Justice •Environment - Cleantech, Clean Air, Water and Sanitation

Announces

IILM Young Citizen Award for

INNOVATION & SOCIAL IMPACT

Who can apply? Students of Class IX - XII

Announcing the IILM Young Citizen Award Important Dates

Announcement of Competition April 7, 2018 Last Date of Submission May 25, 2018

Firstthe Prize: Rs. 1,00,000/All of the above Sustainable Presentation of Ideas are part of June 1, 2018 Prize: Rs. 30,000/Development that UNSecond Global Compact Finale Goals Third Prize: Rs. 15,000/October 24, 2018 strongly enforces. The Social Innovation project could be in any of the realms given above and should be able to create an impact on at least 10 families around them. The project ideas will be evaluated on the parameters of innovativeness of the idea, social impact that they intend to create, feasibility and the project idea presentation. For Queries Contact: +91-9810669548

socialinnovationchallenge@iilm.edu

Find us on Social Media!

www.iilm.edu

A selection committee comprising of senior industry experts and academicians will evaluate all the received project ideas. Any student from class IX to XII of a recognized school in India may submit a project report, either as an individual or as a team of maximum 5 members. IILM will provide the interested individuals and teams an excellent opportunity for being mentored by senior experts before submitting their project ideas for the competition. The first prize is Rs. 1 lakh. There are special school rewards as well. Through this competition we seek to sensitize young school students to think about the society and issues surrounding them thereby increasing their engagement and commitment towards the country and the world.

Book Review

Hit Refresh A conversation starter among policymakers, entrepreneurs, thinkers, governments and general readers, this book is not only for the average reader but also for professionals and those interested in academic reference. The epilogue of the book titled, Afterword, summarizes the central concept in a philosophical manner, raising pertinent questions about the existence of individuals and institutions. It is imperative to state that this book is just the beginning, the genesis of a dialogue on the roles of technology and society, the fourth industrial revolution, the state and technology architects. This book is not the story Satya Nadella or that of Microsoft but it is a journey to explore the “Soul of Microsoft” that cannot be independent of a search for the soul of the digital universe. If we link this to a Buddhist thought according to which the power of the universe rests in every soul and is of infinite potential then we can say that this soul searching book has the potential to become a lighthouse amongst the ocean of technological development that many have been seeking. The book begins by setting the context through the story of Nadella’s upbringing in India, his cultural background and value systems, his passion for cricket and his personal experiences during transition from India to America, the land of opportunity. Building an immediate connection with the readers who are almost compelled to empathize with Nadella and his ambitions, travails and dilemmas, this book pulls the readers into the story of Nadella and Microsoft. The chapters devoted to Nadella’s progression and leadership lessons do not unravel anything new. With a plethora of books available on leadership and skills required to succeed in the 21 st century, one Book Review need not look for any enlightening new clues to leadership building in “Hit Refresh”.

A significant takeaway for the average reader lies is the details that the book provides about current technology. Many readers, eager to understand terms like cloud, artificial intelligence, mixed reality (augmented and virtual reality together) and quantum computing, would certainly gain from reading the book. The book deftly brings all the confusing technology terms into the context of ‘what’s in it for me. Transporting the reader into the Microsoft offices, the book introduces various technologies that Microsoft is working on opening the minds of the readers to the social and political implications of technology development. This is certainly an interesting insight into Microsoft! The amusing attempt to frame ‘Trust’ in an equation can be seen as a tribute to all the nerds out there! “Hit Refresh” by Satya Nadella is a must read for aspiring entrepreneurs, management professionals and policy makers. Arun Gupta Professor

Book Review

Unshakeable: Your Financial Freedom Playbook Time and the need to get it right to do well in life has always been an abstract concept for me throughout my growing years as well as career spanning two decades now. It is, therefore, no wonder that Daniel Pink’s book “When - The scientific secrets of perfect timing” caught my attention. An engaging melange of research findings with personal stories and experiences, blended into an interesting read as much for a lay person as for a researcher. The apt quotes that mark the beginning of every chapter, the conversational language, the examples and advice for the reader to implement the learning productively in daily life at the end make this a well-rounded reading experience. Pink introduces the powerful influence of time in our lives with a story from World War II where the captain of a ship made an erroneous judgment which led to the loss of several lives and probably preciphow the correct timing of breaks can help maxiitated the War. mize the effort that one puts into any activity. It Part 1 introduces the hidden pattern of everyday is interesting to note that afternoon naps are very life. Quoting research wherever applicable, Pink effective for improved productivity in the post goes on to expose the inevitability of each one of lunch slump time, especially when the nap is of 20 us experiencing a peak, a trough and a rebound minute duration and preceded by a cup of coffee. through every typical day. As chronobiologists He also makes a business case for making lunch have known for a while now, each of us has a time fun and away from the workplace itself. body clock that naturally recognises the time of Part 2 of the book highlights the implication of day, which in turn determines the energy levels beginnings, mid-points and endings of individual we have at different points of time during the day, projects, for life and for each day, from different the moods that we experience, and so on. Accordperspectives. Pink illustrates how each of these is ing to research, there are three broad categories interlinked with emotions, ebbs and tides of moti– the larks or morning people, the owls or night vation and the flavour of success. Pink also points people and the third birds who fall in between out the power that lies in the mid-point and how the two earlier groups. Larks and third birds acwe can harness it. He underscores the need for count for almost 79% of all people while Owls are endings to be poignant rather than happy, meanroughly 21%. Larks and third birds generally expeingful rather than positive. rience increasing levels of happiness from the time Part 3 of the book largely focuses on the role timthey wake up till about noon (peak). From noon ing plays when working in groups, the benefits of their energy levels start dipping to an all-day low synchronising with others, and the best ways to (trough) till about 5 or 6 pm after which the energy do it. Finally he introduces the role that language levels as well as a sense of wellbeing start going up plays in the stories we tell that determine how we once more (rebound). relate to time – the past, the present and the fuThe narrative involves the reader completely, ture. making them curious to know what their type is, Overall, a gripping book, written in easy conversawhere they fit in and the author also gives enough tional language which is simultaneously research insight for readers to widen their self-awareness based for the scientists amongst us. It is a small with simple tools. He illustrates how the knowlbook, quick to read and packed with interesting edge and awareness of one’s own diurnal pattern facts and wisdom. can help an individual choose ways to maximize their productivity throughout the day. The second Dr. Gargi Sandilya chapter highlights the significance of breaks and Counselor & Asst. Prof

IILM Celebrates 25 Years Batch 1994-96 To celebrate its 25 years, IILM had organized an Alumni Meet â&#x20AC;&#x201C; continuing a tradition to stay in touch with the past students, on Feb 17, 2018. It was held at the lush green back lawns of IILM, Lodhi Road. It was a beautiful Saturday morning when alumni from all 3 campuses ( Lodhi Road, Gurgaon, and Greater Noida) joined the meet with high energy and passion. The Alumni Meet is an event for old relationships to be cherished, celebrated and refreshed and new ones to be formed. It is a time for reflecting, remembering the good old times, and reliving memories . Mrs. Malvika Rai, Chairperson, honoring the first batch of alumni

Mr. Mayank Bhargava, Head Corporate Banking, ICICI Bank

Mr. Puneet Mathur, Brand Manager, Business Head India, Tissot Watches

Ms. Deepti Rastogi, Director TMF group, 1994-96 batch

Mr. Harbinder Narula, Founder, Mansai Media

Mr. Rajiv Kumar, Director Sales, Revlon

This was not an ordinary gathering but the meet was akin to a family reunion - one which reinforced the sense of pride the institution has instilled in the last 25 years in its graduates. Each individual returned to the institution with their own story

Mr. N Srikant, HR Partner & Executive Vice President, IndusInd Bank

and journey. The transformation was magicalfrom young students training and learning within the brick and mortar buildings of IILM into strong individuals who have now created their own communities and identities.

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The exciting and beautiful day a started with the closing plenary of 5th IILM International PRME Conference. The session started with a discussion on the topic “Sustainability Footprints of Industry“. Eminent Speakers of the session - Ms. Jasmine Saini - Head of Business Synergy at ITC Ltd.; Mr. Gagan Sardana, Business Head at HDFC; Mr Rajiv Kumar- Director Sales and Marketing, Modi Revlon; and Ms. Sapna, Solution Architect at NIIT Ltd. - were alumni from senior batches of IILM. A discussion followed the closing plenary where Ms. Deepti Rastogi, Director TMF Group and Mr. N Srikant - HR Partner and Executive VP IndusInd Bank, shared their journeys from campus to corporate and gave tips to the students to better prepare them for the future. The conference was concluded with closing remarks by Dr. Bhaskar Chatterjee, Executive Director, IILM. After the conclusion of the prestigious conference everyone gathered at the back lawns for a sumptuous lunch and were regaled by the talented musical band of Abhishek Shankar playing on the sidelines. It was heartening and a moment of great joy to see so many Undergraduate and Post-graduate alumni, especially from the first batch (1994-96), which made the event very special and attractive. For some of the early batches this was their first return to the campus after graduating. The reunion served as an opportunity to take a trip down the memory lane for all alumni. Reliving the classrooms, corridors, and canteen, it was an emotional journey remembering old conversations, connections, and curiosities were clearly visible throughout the meet. The cynosure of the event was “Honouring the IILM Lodhi Road First Batch Alumni “. Mrs. Malvika Rai , Chairperson IILM, honoured and presented mementoes to the First Batch Alumni which was followed by an interesting quiz for all the alumni present for the event. The event sparkled with speeches by the first batch alumni who shared their amazing and inspiring experiences. All the participants believed that the alumni could play an active role in the growth and development of the school, and also pledged their active support for the same. It was a wonderful occasion to meet and share the experiences with the alumni who relived their memories, mischief, recalling all those golden years on this special day. They were all very nostalgic about their B-school life. It is in this tremendous bond between the alumni and the institution that community grows and becomes stronger everyday. IILM takes great pride in our students and take tremendous satisfaction in knowing that they received the platform and the support that they needed to live up to their potential. The alumni meet also rejuvenated the faculty and the management’s desire to continue helping young minds find their paths and enjoy the work they do. The alumni showed their willingness to help and partner with IILM in various ways. The meet ended with the hope of meeting again with the alumni next year. We all look forward to a greater partnership with the IILM alumni in the days to come.

IILM Alumni from the Batch 1994-96 with the faculty members

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Campus News Lodhi Road Life never comes to a stand-still, always bustling with exciting events at IILM. The year was replete with extra-curricular activities to engage the students and stimulate their minds. The following activities were organised at IILM’s Lodhi Road Campus since August 2017.

participating teams debated on the topics – New technologies like Artificial Intelligence will displace human beings from factories and workplace sooner rather than later; Google, Facebook and Amazon are monopolistic, addictive and dangerous to society; Social media is being used to transform society negatively. The topic for the finale debate was - To bring in true gender parity we need to re-interpret our religion, social system, social customs and practices.

Nukkad Natak at I-Fest 2018

India Every Two Minutes - Facing the Challenges of Gender Violence Citizenship Development

I-Fest 2018 I-Fest, the Annual Students’ Festival of IILM, Lodhi Road Campus for Undergraduate Business School, took place on 9 th March, 2018. Over 30 colleges from Delhi participated in the fest with Biz Fizz (a business quiz), Cricket, FIFA, Nukkad Natak, Shake-a-leg Dance Competition, Shotgun (general awareness quiz) and Taal se Taal Mila (singing competition) being its chief highlights. Talented students from IILM and from participant colleges made the fest a resounding success by enthusiastically taking part in all the activities.

Vivekananda Memorial Debate Vivekananda Memorial Debate, organized annually by SANSAD, IILM Debating Society, is one of India’s most respected and sought after debating grounds for debaters from prestigious educational institutions. Teams from across the country compete for the VMD Trophy every year. VMD is a platform for cross pollination of ideas and views on management, economy and current burning socio-political issues. The 17 th Vivekananda Memorial Debate was held on 9th and 10th March, 2018. The Faculty of Management Studies, Delhi University, was declared the winner this year, retaining their trophy from its win last year. The

FMS Students - Winners of the 17th Vivekananda Memorial Debate

The 17th Vivekananda Memorial Debate winning teams and runners up team with the judges

Dr. Bhagbanprakash, Ms. Poonam Muttreja, Ms. Subha Rajan, Dr. Kriti Bharti, and Mr. C.S. Pran - Panellists, 1st Panel Discussion, “India Every Two Minutes - Facing the Challenges of Gender Violence”

Ms. Navita Srikant, Ms. Bidisha Pillai, Ms. Rakshanda Jalil, Ms. Neerja Choudhary, and Mr. S.G. Raoot Panellists, 2nd Panel Discussion, “India Every Two Minutes - Facing the Challenges of Gender Violence”

Entrepreneurship and Family Business This conference, organised on 6 th April, 2018 at the Lodhi Road campus of IILM, was aimed at exploring the importance of innovation and sustainability with the associated opportunities and risks for an entrepreneur. The conference also uncovered the key challenges faced by family businesses in an era of digitization in high potential economies such as India and their need for digital transformation for sustenance. Dr. Daisy Mathur Jain, Dean IILMUBS, delivered the welcome address highlighting IILM’s focus on entrepreneurship. The inaugural session was a keynote address by Ms. Sonu Bhasin, Founder, Families and Business, where she cited interesting figures to claim that family businesses were the unsung heroes of the Indian economy. The first plenary session was titled “Entrepreneurship, Innovation and Sustainability” with panelists Ms. Guneesha Kohli, Business Head Malika International; Mr. Sameer Talwar, Founder Entrepreneur of Excellence; Mr. Raman Talwar, Founder Simulanis; and Mr. Rijul Bajaj, Co-founder Samshek Foundation sharing their insights. In the closing plenary session on “Digital Transformation of Family Business Firms” Mr. Virendra Teotia, Owner Umrao Hotels; Mr. Ridhay Khanna, Owner, HH Global; and Mr. Aviral Aggarwal, Director Bikanerwala, shared their experiences. They spoke about the important role of technology and digitization in cost reduction in the areas of marketing, building customer relationship and branding at the same time underlining the need for flexibility in adapting technological change and transforming business and their functioning. Active participation of students and faculty members made the conference a great success.

Society (CDS) in partnership with IILM Institute for Higher Education (IILM) and UN Global Compact (UNGC) Network India held a conclave on March 10th, 2018, at IILM Lodhi Road Campus, Delhi titled “India Every Two Minutes - Facing the Challenges of Gender Violence” to commemorate International Women’s Week. The conclave brought together experts from the field of gender violence, social activists, and agents of social reform to develop a better understanding of gender violence issues as being the main hindrance in providing women their basic human rights. It aimed to raise awareness on gender-violence and analyze the causes and factors resulting in violence against women. 4th Annual Entrepreneurship & Family Business Conference - Changing Paradigms: Innovation,

Dr. SY Quraishi addressing the gathering during the inaugural session of “India Every Two Minutes - Facing the Challenges of Gender Violence”

Campus News Gurgaon Mosaic’ 2018 MOSAIC, IILM Gurgaon’s annual fest, held on 7 th and 8th March, 2018, celebrated cultural and social expressions through a multitude of exciting events such as Fun Cricket, Table Tennis, Carom, Ad-mad Show, Dalal Street, Group Dance and Street Play. During these action-packed two-days, students showcased their talent and competed with other educational institutions of Delhi and NCR regions. Teams from colleges such as Deen Dayal Upadhyaya College, College of Vocational Studies, Maharaja Agrasen Institute of Management Studies, Shivaji College, Shyama Prasad Mukherji College for Women, Keshav Mahavidyalaya, Sri Aurobindo Dyal Singh Evening, Agarasen Institute, JIIMS Rohini, IILM Jaipur, IMS Ghaziabad, and of course teams from IILM, Gurugram participated enthusiastically in the fest.

Pariksha Par Charcha On 16 th February, 2018, PM Narendra Modi interacted with students in an event held at Talkotra Stadium that was attended by over 2500 students from across the country. The students of IILM were also present at this prestigious event. The occasion was graced by several dignitaries such as Prakash Javadekar, Union Human Resource Development Minister; Ravi Shankar Prasad, Law Minister, and Harsh Vardhan, Minister of Science and Technology. After releasing a book on exam stress faced by students, a critical problem in today’s world, PM Modi urged the students to treat him as a friend

PM Narendra Modi interacting with students on the topic “Pariksha Par Charcha” at Talkotra stadium.

Mosiac 2017- Fun Cricket Winning Team

rather than the Prime Minister of the country and ask him questions in an open and frank manner. Prime Minister Narendra Modi responded to several questions posed by the students. On the issue of how to feel more confident during exam time, he responded that the only way to keep confidence high was to work hard and stay focused. On the issue of how to improve concentration he recommended yoga for the students advising them to begin with easy asanas that feels natural to the body rhythm and mind. Responding to a question about EQ and IQ he responded that a healthy balance between EQ and IQ is what is desirable because emotional bonding is extremely important for the overall development of a human being. The PM urged parents to avoid pressurizing their children and advised them not to relate high marks with social status or prestige. PM Modi ended the session by thanking everyone and waving goodbye while walking out.

IILM PGDM students participating in the discussion on the topic “Pariksha Par Charcha” at Talkotra Stadium

Campus News Greater Noida Lohri at IILM The festival of Lohri was celebrated with vigor and enthusiasm by the students of IILM, Greater Noida, home to students from different parts of the country. Primarily a festival popular in North India, especially in the Punjab region, Lohri commemorates the passing of the winter solstice, marking the end of the winter season. The cold winter night resonated with traditional song and dance as the students gathered around the bonfire with puffed rice, popcorn and peanuts enjoying the last of the winter chill while bidding goodbye to the cold season.

Alumni Meet The Alumni Meet, held on 18 th Febuary, 2018, was a walk down the corridors of nostalgia for the students. This is an occasion to celebrate old associations and refresh old friendships and maybe form new ones as students gather at their Alma Mater.

Operations Conference The IILM International Conference on Operations & Information Technology, held on 24 th February, 2018, had “Big Data Analytics for the Digital Era” as the main theme. The objective of the conference was to discuss innovations, challenges & opportunities in the field of Big Data Analytics by bringing together national and international academicians, researchers and industry experts. More than 20 participants from various parts of the world presented their research work at the conference, the topics varying from the Role of Big Data, Big Data and Supply Chain, Customer Analytics to Artificial Intelligence. Researchers and Industry personnel also shared their views on Supply Chain Management, Block Chain Technology and Machine Learning. They shared their insights on the importance of these technologies and their effect on our day to day lives This conference also gave a boost to our budding student researchers who presented their research papers and shared their findings with the audience. Five teams of students participated in the conference and shared their research.

Placement Week A time of reckoning, the Placement Week is a much awaited time for students completing their post-graduation and graduation. This is a time when students begin their professional lives, stepping into the outside world hoping to bring about positive change. This is the beginning of their professional lives as they explore career opportunities. The Placement Week at IILM was organized from 16 th to 20 th January, 2018. Companies such as Deloitte, Aditya Birla, SMC global, Future Group, Grand Slam, Benzaara, Nivesh, Delhi Duty Free, Skotch, HDFC Bank shared their job descriptions and skill requirement with the students specializing in Finance, Marketing, Operations and HR.

Marketing Conference IILM Graduate School of Management and Bizzino strategist presented “EMBRACE” the Marketing Conference on 27 th February, 2018. The conference aimed at connecting students with world class technology veterans, startup ecosystems, startup founders and their success stories and challenges. Some of the important ideas shared at the conference were the concept of smart marketing and digital technology being capable of tracking all information. With India holding second place globally for technical start ups after China and being number 5 globally in total number of startups, this conference was a step in the right direction for our budding student

Life at the Campus The alumni, thrilled to be back in their old campus, interacted with classmates and also with seniors and juniors exchanging experiences and ideas. The current students also intermingled with the alumni forging new bonds and learning from their experiences. The ambience was electric with animated chatter of a dynamic group of young people.

IILM Management Review

Ethics in Business – Not an Option but a Compulsion Mr. Anmol Budhana , Head Marketing, HT Media Questions in business ethics are important and relevant to everyone. This is because almost all of us “do business”—i.e., engage in a commercial transaction—almost every day. Moreover, many of us spend a major portion of our lives engaged in, or preparing to engage in, productive activity, on our own or as part of productive organizations. Business activity shapes the world we live in, sometimes for good and sometimes for not so good. Ethics are the principles and values an individual uses to govern his activities and decisions. In an organization, a code of ethics is a set of principles that guide the organization in its programs, policies and decisions for the business. The ethical philosophy an organization uses to conduct business can affect the reputation, productivity and bottom line of the business. Several factors play a role in the success of a company that are beyond the scope of financial statements alone. Organizational culture, management philosophy and, ethics in business have an impact on how well a business performs in the long term. No matter the size, industry or level of profitability of an organization, business ethics are one of the most important aspects of long-term success. The management team of an organization sets the tone for how the entire company runs on a day-to-day basis. When the prevailing management philosophy is based on ethical practices and behaviour, leaders within an organization can direct employees by example and guide them in making decisions that are not only beneficial to them as individuals, but also to the organization. Building on a foundation of ethical behaviour helps create long lasting positive effects for a company, including the ability to attract and retain highly talented individuals and building and maintaining a positive reputation within the community. Running a business in an ethical manner from the top down builds a stronger bond between individuals on the

management team, further creating stability within the company. Ethical behaviour can result in significant benefits to a firm. For example, they may: attract customers to the firm’s products, which means boosting sales and profits; make employees want to stay with the firm, reduce labour turnover and therefore result in increase in productivity; attract more employees wanting to work for the firm, reduce recruitment costs and enable company to get the most talented employees; attract investors and keep the company’s share price high, thereby protecting the business from takeover. When top management is leading an organization in an ethical manner, employees follow in those footsteps. Employees make better decisions in less time with business ethics as guiding principles; this increases productivity and overall employee morale. The importance of business ethics reaches far beyond employee loyalty and morale or the strength of a management team bond. As with all business initiatives, the ethical operation of a company is directly related to profitability in both the short and long term. The reputation of a business from the surrounding community, other businesses and individual investors is paramount in determining whether a company is a worthwhile investment. If a company’s reputation is less than perfect based on the perception that it does not operate ethically, investors are less inclined to buy stock or otherwise support its operations. Knowing that the company they deal with has stated its morals and made a promise to work in an ethical manner, allows investors’ peace of mind that their money is being used in a way that is in line with their own moral standing. When working for a company with strong business ethics, employees are comfortable in the knowledge

that they are not by their own actions allowing unethical practices to continue. Customers are at ease buying products or services from a company where they know that it sources its materials and labour in an ethical and responsible way.

• Recent directive by Supreme Court of India asking Central Government to enact law to regulate legal profession because of growing commercialisation of the legal profession at the cost of their professional ethics.

For example, a tea company which states that all their raw materials are picked from sustainable plants where no deforestation has occurred by people being paid good wages, in an area where investments have been made to ensure that tea for a foreign market has not damaged the local way of life, will find that all these elements of their buying strategy becomes a selling point for their final product.

• Environment pollution has been in headlines in Delhi-NCR time and again, but the recent cricket test match gave it an international twist when some players were seen sporting masks while playing.

Companies have more incentive to be ethical as the area of socially responsible and ethical investing keeps growing. The increasing number of investors seeking ethical operating companies to invest in is driving more firms to take this issue more seriously. With consistent ethical behaviour comes increasingly positive public image, considerations that are exceedingly important to potential investors and current shareholders. To retain a positive image, businesses must be committed to operating on an ethical foundation as it relates to treatment of employees, respect for the surrounding environment, and fair market practices in terms of price and consumer treatment. In the Indian context, some of the recent pronouncements and instances that exemplify ethical considerations that all professionals (lawyers / doctors / engineers), business leaders and individuals will have to abide by are precursors of serious changes that will ensue.

• Healthcare is the other issue hogging the limelight exposing its commercialisation with utter disregard of ethical practices by health professionals. • Real Estate is another business activity replete with unethical practices by builders, big or small, which has forced the entry of court of law and government to bring rules and guidelines to regulate it. • Corporate Social Responsibility has assumed significant importance as it has been made mandatory by the Indian government. Technology has made transfer of knowledge, within and across borders, simple and accessible. It is time, we as part of an organization or as an individual /professional, take note of our social obligations despite competitive pressures and unrealistic goals lest somebody else curtail our “freedom” and makes rules for us to follow. Let us self-regulate, do it on our own, rather than others making us ethical in our personal and professional dealings. We are all on both sides of the business - customers as well as sellers – and we cannot escape the responsibility of being ethical in these dual roles.

How to Manage Millennials Key Challenge of 2018 Anil Gaur, CHRO, TMTL (Eicher Tractor, Engine & Transmission)

Even though India is a manpower surplus country, it still faces a serious challenge in “Right Talent & Skill Inventory”mainly because of the wide gap existing between demand and supply. As of now supply sources are still largely depleted tomeet the surging demand for right talent & skilled manpower. Hence capability & skill

building have become one of the key priorities for the country. In this space, pro-active role of the Corporates will go a long way. At present, India has a large active young workforce with an average age of around 25 years. This new talent is young, full of energy, innovative,

business & Tech savvy, quick on the uptakes, possessing an instinctive ability to network, and highly ambitious. They are propelled by an urge to experiment, scan new avenues that can spur their creativity. They have high aspirations in terms of fast career growth, high compensation, mobility, and work life balance. They tend to drift to organizations that are flexible, have strong values, robust performance ethics and provide challenging assignments on latest technology. Given that half of India’s population is around 25 years old, managers can’t avoid working with young employees and that has its pluses and minuses.Young employees are eager to learn and can be easy to mould. On the other hand, they also get easily bored and can sometimes be overconfident. So, how can managers get work done from these youngsters and keep them motivated always? The most critical challenge at present, specifically for professionals in all leadership roles, is to effectively manage and lead the millennials towards high performance & delivery, motivation, ownership & commitment. Attrition rates have jumped over the last few years across sectors. The big question in this context is “what is going to be the new DNA of Leadership” which can be effective to lead the Millennials. 1. Clarity of Job Role The key is that employees have a clear understanding of what their jobs entail, even more so than older employees. Sometimes a company projects an image of being a fun and cool place to work, thinking that’s what young people want. But is advisable to be honest and avoid portraying a rosy or glamorous picture. It is better to be mindful in sharing facts even if it does not fulfill all the expectations of these young employees and prevent having disappointed employees at work. Not all the work young employees are going to do will be fun and exciting, and they should be aware of that.The key is to pitch the work in the right way. Managers must explain how employees can make a contribution and can get benefit from it. 2. Guide, Advise and Handhold Young employees may be anxious or nervous in the beginning, so they may need some handholding. Because it is their first job,they might not know basic things like terms of employment, policies, processes and various practices being followed in the company. They may not know how to ask for leave or how to conduct themselves in the workplace. It is better to attach some senior

employee who has been at the organization for some time to a young employee as ’Buddy’. Some Manager may also be identified and attached as Mentors to guide and support young employees at work place. In case of transferring technical know-how, Managers must act as teachers and pass on the right information and knowledge. But Managers have to be careful not to mollycoddle, otherwise employees may become too dependent. Once you’ve assigned the employee a task, have faith that he or she will do the best they can. 3. Age Vs Experience Sometimes companies believe that young employees do not have the capability to deliver or handle a big task thereby they assign small, inconsequential tasks to them. But actually it’s a myth and a quick way to lose them. What is advisable is to listen to these young employee’s ideas and perhaps you might be surprised by the inputs & out of the box ideas you may get. 4. Have Regular Dialogue Regular dialogue and two-way communication is the key to success with your employees. It is important to give confidence to young employees that they can raise any query or ask any silly question. An open work culture is very important to make young employees feel comfortable and align themselves with organization and people. Managers should also get periodic feedback about employees’ work, so that they are clued into their progress, and give guidance when needed. They need to give free, frank, candid &amp; impassionate feedback to young employees and the employee has done something incorrectly, explain what the problem was, show the right direction and let the employee correct the mistake. On the other hand, appreciate the good idea or work to recognize their efforts. Shouting at or humiliating the employees will not help. 5. Relationship Building Building relationship of trust is also an important factor to align the young employees with the Managers. They should be able to look at Managers as friends who are available for any kind of guidance and support and as a true well-wisher interested in their learning experience and career growth. 6. Coffee Time The key to keeping your young employees mo-

tivated all the time is to understand what makes them get inspired. You may not have same principle or solution to deal with different people as every individual is different and you really need to understand their likes-dislikes, strength-areas of improvement, what interests them and their learning styles. Therefore, to identify “What gives them a Kick” spent time with them over a cup of coffee in an informal environment either in office or outside. This is all about finding out what inspire them.Understanding these small but important things will certainly help you to pick & choose the right management style for each employee. 7. Appreciate & Cheer All human beings like to be recognized and appreciated for the good work. Appreciation, especially in a group situation, works as a quick motivation booster. The youngsters are more susceptible if not kept motivated or charged because they are still learning what is right and what’s not. If employees feel that they are fulfilling expectations, they will feel good about themselves. Therefore, pick up all small opportunities to appreciate their efforts and work. But the reverse is equally true, therefore, Managers should be mindful to give the right feedback in the right perspective for mistakes or wrongful act done; else these youngsters may believe that their action or behavior has conformity from Managers and the Organization. 8. Avoid Boredom The young employees want excitement and challenges in life and are very easily bored if they have to do routine/monotonous jobs for long periods. It will be good idea to give them exposure

to different activities &amp; tasks. Managers can identify some ‘Special Projects’ such as process improvement, innovation team etc. and put them in cross functional teams to get a variety of learning experience. Apart from this, periodic job rotation can also be used as a tool to enlarge their overall horizon. 9. Training and Re-Training Another idea is to keep adding into their knowledge by evolving workshops &amp; training programs that may be of interest to them. Such training courses can be technical/functional and soft skills as robust induction training, class room teaching, On-The-Job Training, Out-Bound Training etc. E-learning is becoming a popular methodology for training, where LMS is an integral part of the eLearning design and development process, especially if the company has a large audience and a great deal of subject matter to deliver. However, it is important that while designing e-learning content gamification is used to make the learning experiences attractive to youngsters so that they take interest and successfully completes the courses. Social media can also be used for providing learning and knowledge sharing opportunities. It is an established fact that attractive pay, bonuses and monetary compensation are not the top motivating factors to engage youngsters in the job, rather career growth, transparent & positive culture, diverse and a non-discriminating work environment and high relationship orientation are the key attributes of effectively managing & leading the Millennial.

Robots versus Humans Financial Advisers for Digital Age Mr. Preetkamal Singh Sodhi, Assistant Vice Presudent, ICICI Securities

The digital world has transformed professional industries in unique ways that prior to internet access would have been impossible. Doctors can monitor patients remotely, lawyers can offer counsel online, software can complete your taxes for you, and even financial investments and advising can be made without any face-to-face contact. To some this would sound ludicrous and to others it sounds convenient, but one thing is

for certain—the roboadvisor is another option that’s here to stay for investors to potentially grow wealth. Roboadvisors have amassed assets at a strong pace; it’s expected to hit $285 billion in 2018, although this is only a small silver lining in the giant industry that is asset management. Unlike some digital professional services where you speak or chat with a human on the other

end, the roboadvisor doesn’t involve an actual human advisor to give advice on portfolio or wealth management. The rise of the algorithmbased, automated machine is just what it sounds like—a robot. The automated computer programs utilize complicated algorithms to make investment decisions with your money based on basic online questionnaires that measure goals and risk tolerance. They’re programmed to rebalance portfolios, make trades, and complete comprehensive report generation among other asset management essentials. Roborevelations There are a multitude of potential benefits for those who choose to go the roboadvisor route. First off, roboadvisors use algorithms that are constantly “learning;” Moore’s Law projects that computers will equal the human brain’s processing power by 2025, so you’re certainly not losing out on speedy, intelligent decision making. If fees are a big deciding factor then roboadvising may be a good bet. Naturally, the computer charges less than a human. A roboadvisor fees generally falls between 0.15 to 0.5 percent of assets under management. In comparison, average humans charge at least one percent of assets under their preview/purview. You’ve likely heard of some of the top roboadvisor companies like the top ranked Vanguard Personal Advisor Services, Betterment, Wealthfront, and Future Advisor. These programs are typically designed with a clean user experience and simple steps. Plus, if anything goes haywire with the automated advisor or the process becomes too complicated there’s always customer service. Where Humans Still Have The Upper Hand Yet, the need for the walking-talking financial advisor with an office, not a GB of app space, is

still present. Many people naturally feel more comfortable with a human they can look in the eye and trust to make important financial decisions rather than tossing money into the void that is the internet. The human financial advisor has experience. Sure, the roboadvisor is programmed to do a specific number of tasks very well, but it can never have the real world experience of someone who has, say, led clients through a financial crisis like that of 2008. In the same way the roboadvisor is purely objective, the human advisor has innate subjectivity that can come in useful. In times of economic uncertainty, a real world financial advisor can act as a voice of reason against pulling out all investments regardless of the overall detriment that may occur. Financial advisors are also superior at looking at the big picture beyond just the monetary aspect of your life. They can incorporate elements like your estate plan, trusts, taxes, debts, and any long term monetary goals that may make your situation different than the more typical. Also, a traditional financial advisor can complete investment strategies that require more than an algorithm. Tactics like purchasing individual stocks or dealing with options from an existing portfolio can go beyond the scope of what roboadvisors offer. Luckily, the financial service industry is molding itself so you can have the best of both worlds. Many firms acquired or developed different roboadvising companies so they offer hybrid models of roboadvising mixed with human contact on occasion. This keeps the traditional trusting, personal connection with an understanding advisor, but also frees up the daily management for the advisor to take on additional clients.