The Edge by IILM Institute for Higher Education

Editorial On behalf of IILM, I would like to wish our readers a very Happy New Year! In the year 2019, Prime Minister Modi shared his vision of India becoming a US$ 5 trillion economy by 2024. According to him this vision means courage and new possibilities of development. It means dreaming of a New India that is a developed nation. IILM believes in PM Modi’s vision of taking India to a much higher level of economic development and in keeping with this spirit of a prosperous India through education, IILM's 12th Distinguished Global Thinker Award was conferred on Shri Amitabh Kant, CEO of National Institution for

EDITORIAL BOARD Mrs Malvika Rai Dr Sujata Shahi (Vice Chancellor, IILM Gurugram University) Dr Kakoli Sen (Director, IILM Lodhi Road) Dr Abha Singh (Director, IILM Greater Noida) Mrs Atima Mankotia (Professor)

Transforming India (NITI Aayog). Shri Amitabh Kant spoke about Prime Minister Modi’s vision and mission and what needs to be done to move in the direction of a US$5 trillion economy and the challenges that India faces. The fourth industrial revolution is attracting attention from all around the globe. The new technological trends, the advent of technologies of Industry 4.0 makes it essential to reflect on corporate and business strategies and their effectiveness with respect to technological development.

Businesses

need

define

new

strategies,

implementation modalities, methods and tools to triumph in this new global scenario. The world of work and labor market demand are swiftly changing. According to McKinsey, up to 375 million workers may need to change their occupational category by 2030, and digital work could contribute $2.7 trillion to global GDP by 2025. Faced with the scale of unstoppable shifts in workforce demands, there is a need to address the challenges associated with workforce transformation. Against this backdrop, a two-day International Conference was organized by IILM University Gurugram on the theme ‘Industry 4.0 and the Future of Work’ in December, 2019. The Conference saw a plethora of eminent guests, speakers and industry stalwarts sharing their views on this contemporary and relevant theme as well as research paper presentations.

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

This issue of The EDGE gives an insight into the activities hosted and organized by IILM in support of its vision of a new India marching towards a US$5 trillion economy. Taking forward its vision to educate and develop innovative, entrepreneurial and responsible business leaders, IILM, in collaboration with Sheth Centre for Innovative Leadership (SCIL), plans to offer an Executive MBA in

Designed in-house by: Sidra Mirza

CSR, Sustainability and Innovation designed in consultation with United Nations Global Compact, industry experts and world’s leading professionals.

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Atima Mankotia

IILM’s 12th Distinguished Global Thinker Award

Special lecture by Prof Jagdish Sheth on 'Why Sustainability Matters'

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IILM Convocation for Bachelors of Business Administration (Entrepreneurship)

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IILM University Organizes Conference on ‘Industry 4.0 and the future of Work’

Industry Interface at IILM University Ambassador Deepak Vohra's Lecture on Kashmir: The Journey Resumes Faculty Development Program by IILM Gurugram Faculty Development Programs Industry Visits: Bridging the gap between theoretical and practical Learning Financial Assets: Equity culture and small savings rates in India

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Data as Driver for Decisions - For the Business and for the Managers Social Marketing - Soch Badalna, Samaj Badalna Book Review

Blockchain: The Newest Superpower Myth of the Great Indian Middle Class Campus News

Alumni Profiles

IILM’s 12th Distinguished Global Thinker Shri Amitabh Kant, CEO NITI Aayog The IILM's 12th Distinguished Global Thinker Award was conferred on Shri Amitabh Kant, CEO of National Institution for Transforming India (NITI Aayog) and a member of the Indian Administrative Service, IAS (Kerala Cadre, 1980 batch). Mrs Malvika Rai, Chairperson, IILM and Professor Jagdish Sheth, who was IILM’s 11th Distinguished Global Thinker in 2018, presented the award to Shri Amitabh Kant. The Global Thinker Award launched in 2006 celebrates and honours distinguished individuals who have contributed substantially to the global stream of consciousness, ideas and knowledge, and have made a significant difference in the national and global community. In the past years, IILM has conferred the Global Thinker Award on Lord Bhikhu Parekh, Dr M S Swaminathan, Professor C K Prahalad, Mr Sam Pitroda, Lord Meghnad Desai, Dr Shashi Tharoor, Professor Andre Beteille, Professor Soumitra Dutta, Mr Naveen Jain, Professor Ashish Nanda and Professor Jagdish Sheth. This year IILM honoured Shri Amitabh Kant who is a thought leader and innovator par excellence.

He is the author of the book ‘Branding India: An Incredible Story’ and has recently edited the book ‘The Path Ahead: Transformative Ideas for India’ that are testament to his deep commitment to the vision of transformation of India and the role of policy makers, industrialists, academicians and common man. Shri Kant, who has been a key driver of ‘Make in India’, ‘Start up India’, ‘Incredible India’ and ‘God’s Own Country’ initiatives that positioned India and the state of Kerala as leading manufacturing and tourism destinations, vigorously drove the ‘Ease of Doing Business’ initiative and ranking of States on outcome parameters in his capacity as Secretary (Department of Industrial Policy and Promotion), Government of India. These initiatives have led to India making a quantum jump in the World Bank’s ‘Ease of Doing Business Index’ and enabled Indian States to compete in the spirit of competitive federalism. The recipient of Economic Times Policy Change Agent of the Year Award, the Bloomberg TV Personality of the Year Award, the NDTV Administrator of the Year Award and the Distinguished Fellowship of the Institute of Directors, Shri Amitabh Kant, who is a Thinker and Doer, is a Member of the Steering Board of ‘Shaping the Future of Production Systems’ of World Economic Forum and has received the Sir Edmund Hillary Fellowship awarded by the Prime Minister of New Zealand. In the opening remarks about the IILM Global Thinker Award, Dr Bhaskar Chatterjee, widely acclaimed as the Father of Corporate Social Responsibility (CSR) in India and instrumental in framing and issuing the CSR guidelines for Public Sector Enterprises (PSEs), said, “Shri Amitabh Shri Amitabh Kant, CEO of NITI Aayog and Mrs Malvika Rai, Chairperson Kant has moved seamlessly of IILM, lighting the lamp at the 12th Distinguished Global Thinker Award Ceremony from being a bureaucrat to

is 29 and 72 percent of our population is below the age of 32. It’s like the baby boomers period of UK from 1946 to 1964 when a huge amount of wealth was created because of this demographic pattern of the society. Ease of Doing Business I think it’s important to understand that over the years we’ve made ourselves very complex and a very difficult place to do business. In my belief growth is driven by the private sector and the government has to act as a facilitator and catalyst and unless and until we don’t create the right environment for the private sector to grow, it’d be very difficult for India to grow in the long run. Therefore, India has to A dynamic speech by Shri Amitabh Kant on PM Modi’s vision of India moving become a very simple and towards becoming a US $ 5 trillion economy easy place for doing business. Fortunately in the last four CEO of NITI Aayog and he is someone who doesn’t to five years there’s been a lot of focus on this. spend time criticizing the system but uses it to We’ve added a lot of rules, regulation, procedures, achieve things never achieved before.” Dr Bhaskar paperwork, acts and laws.In the last four or five Chatterjee spoke about how Shri Kant’s strengths years we’ve tried to digitize every sector of the are ideas, ideation and articulation and said, “he economy and we’ve tried to ensure that human knows how to articulate and disseminate ideas touch is done away with. This has led to India in a manner that an average human being can doing away with 1,400 laws and India has jumped understand and connect with.” up about 65 positions in the World Bank Ease of Shri Amitabh Kant spoke on Prime Minister Modi’s Doing Business. It’s not that we need to improve mission of India moving towards becoming a US$5 for World Bank’s sake, we need to improve for trillion economy by 2024. He spoke about what our own sake and therefore while we are seventyneeds to be done to move in the direction of a seven right now in the World Bank ease of doing US$5 trillion economy and the challenges that business, our challenge in the next two years is India faces. to reach the top 50 and in the next four years to Shri Amitabh Kant’s Speech reach the top 25. What India Needs to Do India is a very large country and is bigger than 24 We are growing at about roughly seven percent countries of Europe. Much of the business is done per annum. If India is to become a five trillion at the state level and therefore states have to be dollar economy by 2024 we need to grow at made easy. So we listed down the outcomes of the roughly about eight percent plus year after year states and we started making the states compete and investment rate has to rise substantially and with each other. In the first year Gujarat was saving rate needs to expand in a vigorous manner. number one and the next year Andhra Pradesh I think the challenge is not about a five trillion beat Gujarat and in the third year Telangana beat dollar economy but to grow at high rates of 9 to 10 both Andhra and Gujarat. But the great thing percent over a three decade period to be able to was that the eastern states of Jharkhand and lift a very young population above the poverty line. Chhattisgarh improved on labour laws and made India is passing through a window of demographic themselves easier and they jumped to fourth transition which rarely happens in history. It’s and fifth position. In my belief if the mineral-rich important to understand that our average age states of eastern India continue to improve in ease

Dr Bhaskar Chatterjee, Senior Director IILM, welcoming and introducing Shri Amitabh Kant as the IILM's 12th Distinguished Global Thinker

of doing business India will grow rapidly. Globalization Irrespective of this talk of protectionism around the world it is very important that India pushes aggressively for globalization. No country in the world has grown on the back of protectionism. In fact globalization has lifted huge segments of population above poverty line across the world in the last several decades and therefore India must be a very strong advocate of globalization. In the last four to five years we’ve opened up our economy in many areas for foreign direct investment, we have opened up areas from Defence to Real Estate to Housing, E-commerce and Insurance. Our FDI has actually grown by 66 percent at a time when FDI across the world has fallen by 13 percent. I think we need to continue opening up India’s economy so that we get the best technology, the best companies and all the leading entrepreneurs of the world so that India continues to grow and expand and put pressure on the domestic enterprise to also grow and expand and technology spreads across the sectors. I’m a great believer in globalization and of opening up India’s economy to the world. Urbanization If India’s to become a five trillion dollar economy it is very important that urbanization must play a

very critical role. Every minute there are 30 Indians moving from rural areas to urban areas according to the latest McKinsey study and by 2050 you’ll have 500 million Indians getting into the process of urbanization. You see a lot of urbanization but it’s all unplanned unscientific urbanization and the challenge is how to do good planned urbanization. When America urbanized and when the European world urbanized, land, gas and water were all cheaply available. The process of urbanization has just begun in India and for the next five decades there will be more urbanization than in the last 5,000 years. We’ll do it at a point when land, gas and water will all be scarce commodities and therefore we need to focus on how to recycle our water, our waste and how do we do good planned urbanization. Public transportation will really hold the key to the success of India and urbanization because while cities account for just 3% of the earth’s landmass, they account for almost 82 percent of the global GDP. They also account for 78 percent of the CO2 emission and therefore the challenge for India is how to create cities which are innovative and sustainable. Urbanization is critical if India has to grow the urbanization which has to be extremely sustainable and innovative for the future.

Structural Reforms India’s carried out some far-reaching structural reforms - the Goods and Services Tax which actually replaces 17 taxes in the economy is a far reaching reform and this to my mind will lead to a huge formalization of India’s economy in the days to come. The insolvency and bankruptcy code has virtually ended the process of crony capitalism in India. A very major reform is the Real Estate Regulation Act which is a critical Act that brings discipline in the Real Estate sector. The

accelerate the pace of growth. India is the only country in the world which has a billion bank accounts, a billion plus mobiles and our mobile data consumption today is more than the mobile data consumption of China and USA put together. India will throw up a huge amount of data and data would be the real driver of growth in the days to come. This will fuel a huge number of fintech to drive innovation and growth. There will be data, machine learning and massive amount of artificial intelligence. We have close

Dr Bhaskar Chatterjee, Dr Jagdish Sheth and Mrs Malvika Rai with Shri Amitabh Kant with the award

most critical of all the reforms has been the Direct Benefit Transfer Scheme which has led to about 500 schemes where money is directly reaching the beneficiaries. Earlier only 15 percent of the money released by the government actually reach reach the poor persons but today in these 500 schemes 90,000 crores has been saved by the government and almost hundred percent reaches the poor persons because it’s going straight into the bank account from which he withdraws using his biometric. This is a very radical transformation for a country where huge leakages used to take place. These structural reforms slow down economy for two to three years but then they

to 600 Indian start-ups working in the field of artificial intelligence and this will enable India to actually lift vast segments of a population using data and artificial intelligence. Ayushman Bharat, GST, Income Tax and the digital payment will throw massive amount of data which will drive the Financial Inclusion and growth of India to cuttingedge technologies in the days to come and this to my mind will be one of the key drivers. How India uses technology to leapfrog will be a key challenge much like what we have done with mobile telephones or Aadhar. It’s important that India gets into the sunrise areas of Industry whether it’s electric vehicles, Giga batteries or the

solar world as these will be the cutting edge areas of the future and India must capture these areas. Start-up Movement India has seen tremendous energy vibrancy and dynamism in its Start-Up Movement which is quite unparalleled. When we began the Startup India Movement most of our start-ups were either going to the United States of America to the Silicon Valley or they were going to Singapore. Today we have seen a reverse movement. Mithra Biotech, a personalized cancer care start-up, was recently relocated from Silicon Valley to Bangalore. I came across this phenomenal start-

a centre of huge innovation with close to 1400 multinational corporations, their engineering R&D relocated to cities like Bangalore, Hyderabad and Pune. They employ over a hundred and ten thousand Indians just doing engineering and R&D. Indians must have a great sense of pride about the fact that today there’s not a single multinational corporation across the world which doesn’t do its engineering R&D from India. India has been a highly innovative nation and this innovation must spread rapidly across all sectors of Indian economy. Infrastructure Our infrastructure story has just begun and we

Audience listening with attention to Shri Amitabh Kant’s speech

up called Delivery which is actually replacing the India Post and they reach almost 70,000 pin codes and it’s quite unparalleled. Indian start-ups are driving the movement today from storage to swapping to many other areas and the challenge is of converting waste into energy, cleaning water, building flyovers in 40 days and electric vehicles. If these start-ups are able to find solutions for the 1.3 billion people of India, they will be actually finding a solution for the 7.5 billion people of the world. The market is not India but the market is the 7.5 billion people of the world and that’s a huge market. India needs a lot of disruption in the days to come from many of our young people. Innovation India in the last five to six years has become

are the only country in the world which is doing a hundred Smart Cities. We are the only country in the world which is doing 50 metros, we are driving a dedicated freight corridor which will connect Delhi to Mumbai. Today it takes 14 days for goods to reach the ports on the western coast of India and by next year end they will reach in 14 hours. So from 14 days to 14 hours will be the paradigm shift. We are doing high-speed train from Mumbai to Ahmedabad and many other projects across India. Therefore India’s physical infrastructure story has also just begun and you will see a lot of worldclass infrastructure being created and it’s a massive opportunity for the rest of the world. Challenges I’ve spoken a lot about what India’s achieved.

Let me also dwell a little bit on what are the challenges. There are several challenges which India has to face for this rapid rate of 9 to 10 percent growth over a three decade period. The first and foremost is a huge gender disparity in India - only 28 percent of Indian women work and the worldwide average is 48 percent. If India does not reach that world average of 48 percent, almost half of our working population will not be adding wealth to Indian society. If we are able to take it to the global average of 48 percent it will add seven hundred billion dollar to India’s economy and therefore it’s very important that we focus on health and education of women and we are able to ensure that women are put into leading positions of decision-making so that women can be the key driver of India’s growth. Unless that happens it’ll be very difficult for India to grow and therefore gender parity is critical. No country in the world with 58 percent population living on agriculture can have rapid growth rates without massive structural reforms in the agricultural sector. We’ve put huge constraints on our farmers and we’ve created a whole set of middlemen in the agriculture sector. Unless we provide information and knowledge on the market price, allow technology to flow to our farmers and allow the farmers greater access to markets, it will be very difficult for farmers to enhance their productivity and get

higher earnings. Agriculture requires massive structural reforms. We need a second Green Revolution but we also need to move away from paddy and wheat which are consuming massive amount of water. 90 percent of India’s water goes into agriculture states,four percent of land for sugarcane takes up 70 percent of the water. We need to shift to millets,pulses and we need to ensure that these are procured for the largest mid-day meal in Aanganvadis and for our children so that the nutritional standard can improve. This critical change of cropping pattern and change of behaviour in agriculture holds the key to India’s future. No country in the world has grown without being a great exporting nation post world war II whether it was Japan, Korea, or Taiwan. None of them have grown without penetrating American markets. Therefore every Indian businessman should look not at India but the globe and its ability to penetrate global markets. Exports hold the key to our growth and we need to grow rapidly and therefore, to my mind,we need a huge focus on exports. There are states in the South and North that do very well in education, health and nutrition but there are vast parts of India largely in the east which remain backward. It’s not an issue of money, it’s an issue of lack of good governance in these districts. So hundred and fifteen districts hold India back and unless these districts grow rapidly and we improve the Human Development Index in these districts, India can never sustain a nine to ten percent growth over a long period of time. Therefore one of the key programs of this government is the aspirational district program where we monitor the performance of these districts. We work on real-time data, we focus on nutrition, health, education, agriculture and skill and we put out data on a real-time basis to the District Collector so that they can compete. They’re all competing and they’re ranked and Dr SY Quraishi, Former Chief Election Commissioner of India and Chancellor are awarded on the basis Designate, IILM with Shri Amitabh Kant

Shri Amitabh Kant with Shri Pawan Jindal

of their performance and those who are doing well are doing extremely well and we find a very major radical transformation in these districts. Our challenge to them is that in the next three years they must perform better than the best districts of the state and in five years perform at par with the best districts in India. So ladies and gentlemen, I’ve given you a perspective of the positives and I’ve given you a

Shri Anand Rai with Shri Dilip Chenoy, MD & CEO of National Skill Development Corporation and Secretary General FICCI

perspective of the challenges of India to be able to grow not merely to a five trillion dollar economy by 2024 or a 10 trillion dollar economy by 2030, my perspective is that we must look at a three decade period and lift our population above poverty line and become a key driver of change globally. Let me conclude with these words by this 19th century Indian poet Amir Khusro, a Muslim living in Delhi with Turkish ancestry who wrote in the Persian and said that he counted himself to be the luckiest man to have been born and living in India at that period when a foreigner comes to India where the people teach him to smile like a flower and the foreigner goes back happy. So ladies and gentlemen these are very exhilarating times for India and it’s important to smile like a flower and take India forward. Conclusion Professor Jagdish Sheth, Professor at Goizueta Business School, Emory University, USA, welcomed Shri Amitabh Kant into the select club of IILM Global Thinkers and reiterated Shri Kant’s thoughts when he said, “India has all the ingredients and the time is right for it to grow into a powerful economy.” The event was well attended by distinguished guests and IILM faculty and students who were impressed and inspired by Shri Amitabh Kant’s passionate speech. IILM, which supports Prime Minister Modi’s mission of India becoming a US$5 trillion economy by promoting Employability, Skills and an Entrepreneurial mind-set through quality education, is proud to have Shri Amitabh Kant as its 12th Distinguished Global Thinker.

Shri Kamal Singh, Executive Director of UN Global Compact Network India with Major General B D Wadhwa (Retd), Senior Director, IILM

Special Lecture by Professor Jagdish Sheth on ‘Why Sustainability Matters’

Professor Jagdish Sheth, Professor at Goizueta Business School, Emory University, USA, delivering the lecture

At the launch of IILM’s Executive MBA for PSUs in CSR, Sustainability and Innovation in collaboration with Sheth Center for Innovative Leadership, Professor Jagdish Sheth, Professor at Goizueta Business School, Emory University, USA, delivered a lecture on ‘Why Sustainability Matters’ and chaired a Round Table Discussion at an event organized by IILM at India International Centre. Taking forward its vision to educate and develop innovative, entrepreneurial and responsible business leaders, IILM, in collaboration with Sheth Centre for Innovative Leadership (SCIL), is offering an Executive MBA in CSR, Sustainability and Innovation which is designed in consultation with United Nations Global Compact, industry experts and some of the world’s leading professionals from the area. Designed for working executives and public sector managers to enhance their understanding of sustainability, innovation, government policies and latest management paradigms, the Executive MBA will give the participants a unique 360 degree understanding of how to develop and deploy practices which promote sustainability and innovation across the five core functions of an organization – Strategy, Finance, Marketing, Human Resource Management and Operations.

Dr Bhaskar Chatterjee in conversation with Professor Jagdish Sheth

Dr Bhaskar Chatterjee, who is widely acclaimed as the Father of Corporate Social Responsibility (CSR) in India and has been instrumental in framing and issuing the CSR guidelines for Public Sector Enterprises (PSEs) said, “India is poised at the cusp of Sustainable Development Movement and in keeping with that IILM has developed a unique curriculum which will help busy professionals get a degree in CSR, Sustainability and Innovation through online and interactive sessions on weekends.” The event to launch the Executive MBA with Prof Jagdish Sheth’s lecture and a Round Table Discussion was attended by important guests from major PSUs and some Corporates in India such as NISG, BHEL, IOCL, NTPC, Rural Electrification Power Distribution Company, STEM Alliance, National E-Governance, Power Grid Corporation of India, JSL Stainless Ltd., TATA Steel Ltd., ONGC, IOCL, Indian Aviation Academy, Warehousing Development & Regulatory Authority and PHD Chamber. The PSUs were impressed to learn that IILM’s Executive MBA course provides an attractive opportunity for enhancing the skill sets of CSR personal and that Rule 4(6) under Section 135 of Company’s Act 2013, allows CSR spend to be used on capacity building for executives of the company. This event therefore opened for them an opportunity for sending their executives for this unique Executive MBA programme. Professor Jagdish Sheth’s lecture on ‘Why Sustainability Matters’ at the event emphasized the importance of improving skills of executives in the area of CSR, Sustainability and Innovation. Known for his scholarly contributions in consumer

behaviour, relationship marketing and related areas, Prof Sheth is the foremost, leading expert on consumer psychology and marketing with over 50 years of combined experience in teaching and research at the Universities of Southern California, Illinois, Columbia, MIT and Emory amongst others. Several world leaders, including Former President Bill Clinton and Prime Minister Modi when he was the Chief Minister of Gujarat, have been advised by him. Prof Sheth was also instrumental in setting up the first Indian Institute of Management (IIM) at Kolkata. Professor Jagdish Sheth’s Lecture Professor Sheth began by emphasizing that the issue of sustainability is no longer just a nice thing to do like CSR but it’s a necessity. Professor Sheth in his lecture elaborated how the largest carbon footprint happens in homes in America because of refrigeration followed by Super Markets that have high utilization of refrigeration. He said, “It is important for people to do Mindful Consumption and Sustainability should be mandatory.” Professor Jagdish Sheth made several significant points on the importance of sustainability in his lecture stating that ecological sustainability and shared value will be the next twin frontiers of competitive advantage as were quality and customer satisfaction in the 80’s. He said, “The biggest show stopper will be neither the capital nor the technology. It will be the environment.” He said that the Industrial Revolution made one key difference and we are paying the consequences of that now with a rising curve toward a crisis because it divorced production from consumption. Before the Industrial Revolution we produced in the same place and consumed in the same place, same time and there was no need for refrigeration. By making production and consumption separate while we can scale up production, it needs to be shipped to some other place when the local market cannot consume all that they produce. So we went through economies of scale concepts and that created a huge carbon footprint. The largest carbon footprint does not happen in the factory, it does not even happen in the transport but seventy percent of all carbon footprint shappen at home and home is the biggest polluter in America. The materials are all Shri Kamal Singh, Executive Director of UN Global Compact Network chemically based walls - prefab India during the audience interaction with Professor Sheth and assemble which spews a lot of

Shri Kamal Singh, Executive Director of UN Global Compact Network India with Shri Anil Rai and Shri Anand Rai

negative pollutants in the air. In America when a home burns, they burn with fumes which are noxious. He also pointed out that cars, which are part of the home transport, are another big polluter and that’s why he said that he strongly advocated electric vehicles. He also said that home refrigeration leaves one of the biggest carbon footprint and at the second place is the supermarkets where there are 24/7 freezers and refrigerators constantly producing carbon footprint. He said that the solution is simple - we can we put production and consumption in real time and real location rather than time separated locations. Professor Sheth said that another mistake we have made is to abuse and exploit nature which is a biological living breathing organization. We have made the worst mistake of over utilizing without thinking about replacing nature that nurtures us. He said that we need to focus on the consumer and think about how to make

Mr and Mrs Rai with distinguished guests at the event

mindful consumption as we don’t want to damage the environment. The United Nations Millennium Goals triple bottom line – People, Planet and Profit is about how profit alone is not sustainable. He mentioned that all Capitalist thinkers such as Adam Smith are being questioned and so is the obligation of the corporation to just make money and so are people like Milton Friedman who had said that big businesses and social agenda are not to be mixed together. Observations about Sustainability Professor Sheth made important points in his lecture about sustainably. He said that just as quality and customer satisfaction emerged as the company’s competitive advantage in the last century, sustainability and shared value will emerge as competitive advantage in this century. Quality delivered bottom line profitability through cost reduction and customer satisfaction delivered top line growth through customer life time value (CLV).Similarly, sustainability will improve the bottom line through cost reduction and shared value will enable top line growth for companies. The Good News and the Bad News He said that the bad news was that Sustainability will encounter strong resistance both internally and externally and it will require both internal and external marketing. The good news according to him is that sustainability and shared value will be harder to imitate, and therefore, will have the first mover advantage. Without an economic or environmental crisis, it is hard to bring about corporate transformation. According to Professor Sheth, “Sustainability is a marketing problem, both internally and externally and a company needs to motivate and market and all the stakeholders that includes doers, enablers, and supporters. He said, “One needs to take a marketing approach by thinking of stakeholders as customers and shaping as well as exceeding their expectations.”

Ms Aarti Rai with Shri Jayant Shah, Business Director of Professor Sheth’s Academy of Indian Marketing (AIM)

Professor Bert Wolfs, Academic Dean, SBS Swiss Business School at the Convocation for Bachelors of Business Administration (Entrepreneurship)

Professor Bert Wolfs, Academic Dean, SBS Swiss Business School at the Convocation with Cdr Hitesh Goel, Dr Kakoli Sen and Dr Abha Singh of IILM

The Convocation Ceremony for the Class of Bachelors of Business Administration (Entrepreneurship) 2019, in collaboration with SBS Swiss Business School, was held on October 15, 2019, at the Lodhi Road campus. Cdr. Hitesh Goel, Dean, IILM Undergraduate Business School, opened the ceremony after seeking approval from Prof Bert Wolfs, Academic Dean, SBS Swiss Business School. On behalf of IILM Undergraduate Business School, he extended warm greetings and welcomed Prof Bert Wolfs, and esteemed members of the Board of Governors, faculty members, staff members, parents and the graduating class to The momentous occasion of the graduation ceremony. He addressed the young graduates and wished them all the best for the future and asked them to keep coming back to their Alma Mater to share the success stories. Dr Kakoli Sen, Director, IILM Institute for Higher Education, addressed the students and the esteemed guests and shared the achievements of IILM during the past one year. She shared that IILM believes in the pedagogy of blended learning where classroom teaching and self learning through digital platforms integrate and IILM provides flipped classrooms where students can

learn at their own pace, choose online courses to supplement their learning. She spoke about how simulations and class discussions encourage students to analyze real time situations and discuss with peers and how IILM has developed its own online modules on Marketing, Innovation and Startup Policy. She further added that Bar

Dr Kakoli Sen, Director, IILM Institute for Higher Education addressing the graduating students and their parents

Council of India has approved the school of Law at IILM University and courses such as BBALLB, BALLB and LLM are to be offered from this year onwards. She spoke about how The School of Design and Fashion is also offering some very sought after programs such as Fashion Design, Product Design, Luxury Design Management, Graphic Design, Animation and Gaming etc. She also mentioned that the Centre for Emotional Intelligence of the Institute seeks to educate and train students and society at large to develop and apply their emotional intelligence for happy, successful, enriching and fulfilling lives. In the end she congratulated Professor Bert Wolfs wishing the students all success in their professional lives the 118 students of the UG Class of 2019 who were being conferred their degrees in Management. by congratulating the students and said, “The While some of the students would be pursuing ceremony today is for you. It is a milestone in your higher studies in universities such as Royal life and meant to lead to greater things. We at IILM Holloway University of London, Imperial College, are very happy to be able to come to the end of Middlesex University, London School of Business, this beautiful journey that we walked together. Haas Business School, Northeastern University Culmination of your programme need not be of Boston, University of Adelaide etc, others will the end of our association, it is meant to take a join their family businesses or have chosen to be new name, a new direction where our bonds entrepreneurs. Dr Kakoli Sen ended her speech must become stronger as you carry our name in whatever you do, wherever you are. IILM believes in being Global, Inclusive and responsible. We hope you will carry this belief in letter and spirit with you all your life.” Next, Prof Bert Wolfs, Academic Dean, SBS Swiss Business School addressed the students and audience. He began by congratulating the students for successfully completing the course at SBS and at IILM. He wished everyone a Happy Diwali ad said that on this auspicious occasion may the Goddess Lakshmi bestow prosperity on the students and turn them all into ‘arabpatis’ Professor Bert Wolfs granting the degrees to graduating students at the Convocation (billionaires). Professor

Glimpses of the UG Convocation

Students after receiving their degrees with Professor Bert Wolfs, Mrs Malvika Rai, Chairperson of IILM and faculty members

Bert spoke about the importance of the teaching faculty in imparting knowledge to the students. He requested all the graduating students and their parents to rise and give a standing ovation to the teachers to thank them. After the addresses, the candidates from the IILM Undergraduate Business School, received the degree of Bachelors of Business Administration in Entrepreneurship from Prof Bert Wolfs, Academic Dean, SBS Swiss Business School. Degrees were also conferred on students from IILM Gurugram. The Gold, Silver and Bronze Medals were awarded by Mrs Malvika Rai, Chairperson of IILM to graduates who secured top positions in the Bachelor of Business Administration in the Entrepreneurship. Mrs Malvika Rai presented the Dr Kulwant Rai Gold Medal for securing first

position to Winnie Ranjan and Silver Medal for securing second position to Tejasva Ahuja. The bronze medal was conferred to Shivam Khanna for securing third position. The award for the best thesis was given to the thesis on ‘Analysis of Customer Perception towards Smart Clothing in Delhi/NCR’ submitted and presented by Ritansha Rampal and ‘Effects of Recreational Activities on Employees’ Morale and Productivity in NCR region’ submitted and presented by Ajay Partap Singh. The ceremony was closed by Dr Gurpreet Singh Bhatia, Dean Academics, IILM Undergraduate Business School after seeking permission of Professor Bert Wolfs, Academic Dean, SBS Swiss Business School. The Convocation concluded with the National Anthem, the throwing of caps in the air and a group photograph.

IILM University Gurugram Organizes International Conference on ‘Industry 4.0 and the Future of Work’ There isn’t an iota of doubt that humanity continues to embark on a period of unparalleled technological advancement. The next 20 years will present both significant challenges and opportunities. Private sectors, governments, academics and entrepreneurs are all seeking the roadmap for navigating these profound changes in the world of work. Such a road map must be created collaboratively by all stakeholders. One of the most immediate and impactful outcomes of

Lamplighting by the guests at the Inaugural Session

technological evolution is the vast advancement in automation. Every day, more manual processes become automated, and as technology continues to accelerate, so will automation. The advancement of digital technologies has put firms in the face of an anticipated change in paradigms and approaches to management. Over the decade, the Fourth Industrial Revolution has attracted attention from all around the globe. The new technological trends, the advent of Industry 4.0 and the Internet of things (IoT), make it essential to reflect on corporate and business strategies and their effectiveness with respect to the new technological development. Businesses need to define new strategies, implementation modalities, different methods and tools to triumph in this new global scenario. Industrial automation, connection and aggregation of different data in corporate information systems are phenomena that need to be studied in-depth to make them contribute to the new business strategy bringing concrete benefits. As a result of these developments, the world of work and labor market demand are swiftly

changing. According to McKinsey, upto 375 million workers may need to change their occupational category by 2030, and digital work could contribute $2.7 trillion to global GDP by 2025. Faced with the scale of the unstoppable shifts in workforce demands, there is a need to address the challenges associated with workforce transformation, starting by taking an in-depth look at its impact on the world of work. Against this backdrop, a two-day International Conference was organized by IILM University Gurugram on the theme, Industry 4.0 and the Future of Work during December 6-7, 2019. Research papers and cases were invited from industry practitioners, government sector, faculty members, research scholars, students and all interested professionals. The Conference saw a plethora of eminent guests, speakers and industry stalwarts gracing the occasion and sharing their views on the contemporary theme The Inaugural Session The conference started with the Inaugural Session. The Chief Guest, Dr Ashutosh Karnatak, Chairman and Managing Director, GAIL India Ltd. gave insights on the changes brought by Industry 4.0. He introduced the basic meaning of ‘Revolution’ and how Industry 4.0 brought about a change in the mindset of the people. According to him, companies and universities need to work together so that students can know what they should do. Constant innovation, a need for digital orientation, energy transformation and digital transformation is the need of the hour. He motivated students to stay focussed on three things – Self, Organization and Society. He encouraged students to implement the success formula: goal setting, dynamics, positive attitude, self-belief and directional efforts. He also spoke about the role of positivity and an action-oriented approach. Guest of Honour, Mr Sachin Gupta, President & Chief Information and Innovation Officer at Usha shared his principles of life, which he said helped him to stay attuned with the fast-paced technological advancements and helped him to gear up for the future. He urged students to focus and concentrate to create a path for their goals; move on even in case of a failure; think and plan

meticulously; learn to execute and implement Artificial Intelligence, Extended Reality and by delegation; and strive for 100% achievement Quantum Computing) and SMAC (Social, Mobile, for all tasks. According to him, these principles Analytics and Cloud). The panellists assured the would help students face the future uncertainties students that if they focus on reskilling themselves successfully. on the hard skills like Advanced Excel, R, SQL etc The second Guest of Honour, Mr Vineet Sahni, and on soft skills like Critical Thinking, Creativity CEO & Sr Executive Director, Lumax Industries and Emotional Intelligence, they had higher gave insights on the language, skills and the chances of success in the future. Continuous environment around. He spoke about big data and learning to remain relevant had to be the mantra gave the example of the time taken to reach 100 for all the youngsters. The panel deliberated on million customers, where, it took 7 years to reach the multiplier workforce consisting of freelancers, this level through the web; 75 years through the millennials and the Z-generation. The discussion telephone; 4 years through Facebook; 2 years focussed on the work environment, automation through Instagram and PokemonGo took just 1 of the HR processes by more than 70% of the month to reach 100 million customers. All this was organizations, increasing demand to work on the power of data which cannot be seen. He took projects, work-life integration and removal of all the audience through the journey and evolution of monotonous work by AI. Industry 4.0, adding on the pivotal role it has played Paper Presentation by Researchers in today’s era. Being himself of the 3rd generation, The last session was the paper presentations of the he stated how he changed himself to survive researchers. The Session was chaired by Dr Sudhir in Industry 4.0. He then spoke about Artificial K. Jain, Professor, JNU (Former Vice Chancellor, Intelligence, about the Robot Sophia, about Mata Vaishno Devi University Katra and Prof IIT Cobots or Collaborative Robots which are being Delhi) and co-chaired by Dr Srinivasa Reddy, K., taught and are learning like the human beings. He Int. Mgmt. Faculty, School of Management, Xi’an then shifted focus on the future skills required to Polytechnic University, Xi’an City, P.R. China. In his survive the technological developments, both in keynote address, Dr Jain spoke about leadership terms of hard skills and soft skills. Digitalization through technology, and the focus on innovation, and innovation are the part and parcel of life today new technology and AI. He gave examples of and one needed to upgrade oneself in order to flying cars, biofuel, green technology in different thrive in this era. sectors, evolving communication system, genetic The conference proceedings published by engineering, cloning, and the changes in the Bloomsbury International Publishers were released teaching and learning patterns. by the Industry guests, Dr Sujata Shahi and the The action-packed day ended with a cultural conference team. More than 40 papers were evening consisting of performances by students. received but only 33 full papers were published Industry 4.0 in the Indian Context after review. The Second day of the Conference began with a Role of Technology on the Future of Work Panel Discussion on Industry 4.0 in the Indian After the Inaugural, a panel discussion was Context. The Panellists were Mr Gerard DMello, conducted on the ‘Role of Technology on the Director HRD, Daikin Airconditioning; Mr Aditya Future of Work’. The Panelists included Mr Kohli, CHRO, Clix Capital; Dr (Maj) Rupinder Kaur, Raj K. Chauhan, CHRO, Roki Minda, Ms Ruma Batheja, Head– People Strategy & HR Analytics, Knowledgetics, Mr Angira Agrawal, Sr Vice President – Enterprise, NCR / Delhi, Vodafone. Their deliberations were moderated by Ms Yasmin Taj, Editorial Head, People Matters. The focus of the discussion was on the impact of the disruptive technology and the transition from 1.0 to 4.0 on infrastructure, manufacturing and the skills required to cope. Students Special Talk by Dr Srinivasa Reddy, K. Int. Mgmt. Faculty School of were given insights on DARQ Management, Xian Polytechnic University, Xian City P.R. China (Distributive Ledge Technology,

Asst Director, Firmwide Learning, Ernst and Young; Ms Runa Maitra, Founder & Director, People Talent Intl (PTI) and Mr Anoop Rawat, Head of Human Resources, G4S. The session was moderated by Dr Smriti Pahwa, Senior Consultant, Aarogya. The key takeaways from the discussion were on how Industry 4.0 requires a workforce which has specific skills to cope with the advancements in Automation, Machine Learning and Real-time data. The HR would need to design employee benefits that were attractive and competitive yet would trim the costs and promote future growth of the employees. The impact of Industry 4.0 was creation of new jobs, AI playing a major role in India’s GDP, pivotal role by soft skills and use of technology, AI and data analytics to identify and screen talent. Organizations would need to invest in people’s skills to differentiate humans from robots. The panellists were of the view that there needs to be an interface to efficiently manage AI and application–based learning. The experts felt that there were three levels of changes being brought in by Industry 4.0 and AI – physical change, digital change and biological change. There was a need to shift from subtractive to editive manufacturing. In India, widespread implementation of the changes being ushered by Industry 4.0 were still in nascent stage in many parts of the country. With high investment outlay and inadequate know-how, the organizations were struggling to keep pace with other counterparts.

in the factories, faster reach to the market. The need of the hour is to have a strong industry– academic interface wherein the curriculum to be revised and made contemporary; creation of vocational infrastructure and incorporate the latest terminologies and technologies in the academics. Emerging Market Multinational Corporations A special talk on Emerging Market Multinational Corporations was delivered by Dr Srinivasa Reddy, K., Int. Mgmt. Faculty, School of Management, Xi’an Polytechnic University, Xi’an City, P.R. China. He shared insights on how business was conducted in China and gave inputs on the Chinese culture, removing myths about the environment of China. Paper Presentations by Researchers The last sessions were two parallel paper tracks. One was chaired by Dr Srinivasa Reddy, K., and co-chaired by Dr Tripti Toor; while the other was chaired by Dr Puja C Sharma and co-chaired by Dr Ashish Mathur, senior faculty, Jai Narain Vyas University, Jodhpur. The research papers were received from the University of Mexico, University of New Zealand, Delhi School of Economics, Jai Narain Vyas University Jodhpur, Delhi University, IBS Gurgaon, Jaipuria Noida, FMS Delhi, Jaipuria Jaipur, SSR IMR, Silvassa, Dayananda Sagar University Bangalore, Symbiosis Intl University Pune, ICFAI University Tripura among others. The students of BA & MA Psychology, BBA and MBA also contributed under the guidance of faculty members. Valedictory Session The Valedictory Session saw certificate distribution by the Guest of Honour, Dr Akhil Prasad, Director, Country Counsel India and Company Secretary, Boeing India. He shared his views and thoughts on the impact of technological advancements while delivering his speech. The conference concluded with a half day workshop on ‘Crafting and Publishing Research by Business Management faculty and PhD Research Scholars’, conducted by Dr Srinivasa Reddy, K. The conference was sponsered by SAIL, GAIL and Power grid. The Plus Approach Dr Akhil Prasad and Dr Ashish Mathur with student volunteers Foundation (PAF) collaborated with IILM University as an NGO Partner. The two-day knowledge confluence was wellWhile India was at an advantage of having a received by all the industry guests, academicians, large manufacturing base and a significant IT scholars, paper presenters and students. industry, there was huge potential to leverage Dr Sona Vikas the transitions occurring across. It would lead to Associate Professor, substantial cost reduction, safe work environment IILM University Gurugram

Industry Interface at IILM University HR Roundtable Discussion IILM boasts of a strong Industry-Academia interface. Feedback is regularly taken from the professionals with the aim of offering contemporary and industry-relevant courses to the students so as to equip them better. On September 12, 2019, IILM University hosted an HR Roundtable discussion with the objective of taking inputs on the proposed curriculum for Specialized MBA-HR program from industry experts. The Specialized MBA-HR program has been designed to give a unique opportunity for the learners to develop expertise in different areas of HR while operating in a volatile and uncertain environment. The discussion was deliberated by Mr Anoop Rawat, Head of Human Resources, G4S; Ms Mandeep Kaur, Strategic HR Head,IBM; Ms Ruma

on the contemporary trends in the area of HR. A change in the nomenclature of some of the traditional electives was suggested. The panel suggested that the HRPA should be now changed

In contemplation Dr Devi Singh, Dr Sujata Shahi, Dr AK Malhotra and Dr Sona Vikas

Ms Sakshi Khosla, Associate Director, Human Capital, Max India Ltd; Ms Ruma Batheja, Head, People Strategy and HR Analytics, Knowledgetics Research and Mr Anoop Rawat, Head of Human Resources, G4S

Batheja, Head, People Strategy and HR Analytics, Knowledgetics Research; Ms Sakshi Khosla, Associate Director, Human Capital, Max India Ltd.; and Mr Mussarat Hussain, Head, Leadership & HR Transformation, Maruti Suzuki. IILM University team was ably led by Dr Sujata Shahi, Vice Chancellor, IILM University, in the presence of Dr Devi Singh, Advisor, IILM University, faculty members and MBA HR students. Dr Sona Vikas presented the proposed HR electives to the distinguished experts and opened the forum for deliberations. A very meaningful discussion was facilitated, and outcomes recorded for implementation. The experts gave valuable inputs and insights

to Talent Acquisition; Employee Relations should be changed to Employee Relations and Regulatory framework for HR; Performance Management and Appraisal to be separated from Compensation Management. They instead proposed that the Elective should be Total Rewards Management. Another suggestion was to include electives such as HR Tech, Digital HR and HRIS. The panel also felt that Talent Management and Employee Engagement needs to be brought together and taught as both are extremely relevant from organizational perspective. The experts felt that a course of Diversity and Inclusion was the need of the hour.The internal faculty team made notes of these suggestions to implement the same. Industry Mentoring for HR Students An Industry mentoring programme has been initiated by IILM University for the MBA HR students of Year I to engage with industry mentors in-person and/or online to track their growth and progress. The Industry Mentoring Program is a partnership between the mentee and the mentor that is focussed on developing the career management skills of the students and identifying career options and goals. The mentors will use their skills, experience and knowledge to support the students as they make decisions about their future. It will assist the student in

Women in Business Summit -2019 the transition from university to work. Through IILM University hosted the Women in Business a series of mentoring sessions, the students will Summit and Awards on November 30, 2019 be able to gain advice and support regarding which witnessed some intense discussions and their employability skills, career direction and deliberations on contemporary issues of relevance networking. in the existing ecosystem of Entrepreneurship. Each of the HR student has been to an expert The event began with the esteemed guest for their grooming, guidance and preparation for participants, delegates and speakers being corporate life ahead. The students stand to gain welcomed by Dr Tripti Bajpai Toor, who also tremendously with respect to their confidence apprised the audiences about IILM University and and overall development. The experts who have its unique initiatives in the domain of innovation consented to take responsibility of the students and Entrepreneurship and IILMU being forerunner include: Mr Anoop Rawat, Head of Human in the field of Liberal Education. This was Resources, G4S; Ms Mandeep Kaur, Strategic followed bya panel discussions on ‘Investment HR Head, IBM; Mr Mussarat Hussain, Head, Opportunities for Women Entrepreneurs in India Leadership & HR Transformation, Maruti Suzuki; and Change Women are bringing across different Ms Ruma Batheja, Head, People Strategy and HR Industries’. There were individual talks by women Analytics, Knowledgetics Research; Ms Sakshi leaders on Sales Strategies in a Digital Era, Busting Khosla, Associate Director, Human Capital, Max the Entrepreneurial Myths and Fem Tech in India: India Ltd.; Mr Sanjay Diwan, Partner, Positive Disrupting Healthcare for Women. The event Momentum; Ms Sonal Kapur, Head, HR, Modern concluded with an Awards Ceremony where Foods; Ms Neha Jain, AGM, HR, Max Healthcare; women achievers were rewarded for making Ms Deep Ahuja, Managing Partner, TPC significant contributions in their respective field of Leadership India Private Limited; Ms Runa Maitra, Entrepreneurship. Students had the opportunity Founder & Director, People Talent Intl (PTI); Mr to hear some amazingly challenging stories of Alok Narain, Co-Founder & Director at Emergence the awardees. The awards were given away by Learning Solutions Pvt. Ltd.; Ms Parul Varghese, AVP, L&D and Diversity, Genpact; Mr Ankush Arora, VP HR, Grofers; Mr Ravinder Diwan, AVP, Reliance Jio; Mr Rohit Agarwal, AVP, Wheebox; Dr (Maj) Rupinder Kaur, Asst Director, Firmwide Learning, EY; Ms Bhumika Panwar, Program Officer, UNGCNI. The Student Mentees will be able to get insights on what employers are looking for in the graduates and raise their awareness about career paths and job options. They will be able to explore options for site/industry visits and job shadowing. They will be able to develop professional networks in the chosen industry. The Mentors will help them Panel Discussion on the change women are bringing across various in improving their employability skills, industries interviewing techniques and Résumé writing and give them knowledge about the Guest of honor, Mr Sukhbir who is a singer work, industry expectations and culture and help of International Acclaim and is also an Angel map career progression while they are studying. Investor and Dr Sujata Shahi, Vice Chancellor, IILM They will help them keep abreast of challenges University. Dr Sujata, in her address congratulated faced by graduates as they struggle to get into the all the awardees and also thanked all the guest work force. speakers and participants. This is a year-long engagement. On November 2, The prominent speakers on the day included Dr 2019, an introduction cum icebreaking session Abha Rishi, CEO, Atal Incubation Centre (AIC), was held between the students and their mentors. BIMTECH; Geetika Saigal, Author and TedX Their first official interaction with their industry Speaker; Nidhi Kumar, Anchor, DD National; mentor was scheduled in December 2019 to be Rashmi Chadha, Founder, Wovoyage, Preeti followed by other such sessions.

Chaudhary, Founder, LinkedIn Local India; Mona Singh, Co-Founder, India Accelerator; Neha Upadhyay, Founder, Guna Organics; Deepa Pant, Founder & CEO, Amaryn; Gauri Vats; Varija Bajaj; Swarnima Bhattacharya and Roshni Baronia. NSE Industrial Visit The School of Management of IILM University, Gurugram in co-ordination with National Stock Exchange (NSE) had organized an educational trip to topmost economic institutions & regulatory bodies of India to enhance the practical knowledge

and discussed about the regulatory bodies and Governance. The session was very interactive where students shared various price points and Mr Tyagi suggested strategies, i.e., when to enter the market and how to book profit and exit at the right time.He gave tips for investment and how one can get a good return on Equity Market. Lastly, he provided knowledge about different career opportunities in the world of financial markets and also discussed the different NSE certifications that are relevant

Student volunteers with Internationally acclaimed Singer, Sukhbir

of students. A group of 52 students of BBA & MBA went on an Educational Trip to NSE along with Dr Saima Rizvi, Prof Farida Rasiwala and Dr Charu Bansal on December 4, 2019. At the NSE, Mr Kunal Tyagi, Head of Business Development Department, greeted the students and faculty and explained how the stock market functioned earlier and now. Earlier, there were a lot problems faced by many investors due to the lack of communication and lack of transparency in the whole procedure but with the advent of technology all these problems have faded away creating an increase in the number of investor base. More people turn to the Securities Markets to invest their money. This is created with the introduction of De-Mat account which is an electronic storage and transfer facility for securities. He explained how trading is done at Stock Market and also provided valuable information on Stock Market fluctuations. In the two hour session, Mr Kunal Tyagi explained in detail the nuances of Stock Market Trading

Sukhbir felicitating the Special Awardees as Dr Sujata Shahi, Vice-Chancellor, IILM University looks on

for a commerce graduate. This session concluded with resolving of students queries on various modules offered by the NSE academy. It was a great Industry interface for the students as they got first-hand knowledge and information by this interaction.

Ambassador Deepak Vohra’s lecture at IILM Kashmir: The Journey Resumes

As part of the Critical Thinking, Reading and Writing Career Course at IILM, a lecture of Ambassador Deepak Vohra, currently the Special Advisor to the Prime Minister of India, was organised for the students to apprise them about the Kashmir issue that has been dominating the news and people’s thoughts since August 2019 when the special status granted to Kashmir in the Indian Constitution was revoked. Ambassador Deepak Vohra, an Indian diplomat, served as Secretary in the Ministry of External Affairs. He was the Ambassador of India to Poland and is now Special Advisor to the Prime Minister of India, Lesotho and Guinea-Bissau. In 2012 he was Advisor to the Government of South Sudan. During his service in the Indian Foreign Service, he served in France, Tunisia, United States, Chad, Cameroon, Papua New Guinea, Spain, Armenia, Sudan and Poland. In 1995 he was Deputy High Commissioner in Kuala Lumpur. Prior to his role in Diplomacy, he was a news reader in Doordarshan and an officer on special duty to the Technology Advisor to the Prime Minister of India. Ambassador Vohra has also worked with Sulabh International and has been a part of United Nations assignments in Africa. An Alumnus of

St. Stephen’s College, Delhi, St. Columba’s School, National Defence College (India) and University of Paris, Ambassador Deepak Vohra has a special interest in the Kashmir issue and he inaugurated The Apati War Memorial at Kargil. Lecture of Ambassador Deepak Vohra Ambassador Vohra began his lecture with the history of India during the British rule and explained the importance of Kashmir due to its geographical location. He took the students on a historical journey of India during the British rule through a series of rare pictures of that era bringing out the stark inequality between the lives of the British who ruled and the Indians who were the subjugated lot and exposed the sheer unfairness and greed of the British. Ambassador Vohra touched upon India’s freedom movement and explained in great detail how and why India was partitioned. He also spoke about the role of the various leaders such as Pandit Jawaharlal Nehru, Mr Mohammad Ali Jinnah and Governor Mountbatten in the partition of India. He explained to the students the difficulties faced by people during partition of India and how people were forced to migrate to either India or Pakistan leaving behind everything that was familiar. He

Ambassador Deepak Vohra interacting with the students

Ambassador Vohra has the audience spellbound with his oratory skills and deep knowledge

showed several disturbing pictures of partition that impacted the students and made them think. He told the students a sweet tale of a young army officer who was on duty during partition who fell in love with a young woman who was migrating from Pakistan to India and how he pursued her and finally married her. At the end of this beautiful tale of love he revealed that the young officer and the lovely young woman were his parents that made the students burst into an involuntary applause of delight. Ambassador Vohra explained in detail the history of the partition and the circumstances under which Kashmir attained special status in the Indian Constitution. He explained some of the poor decisions made in history that have had long term impact in the relations of India and Pakistan especially vis a vis Kashmir. He spoke about the several decades of issues arising in India as a result of the decisions made at the time of India gaining

independence and how they need to be solved. Finally, he ended the lecture by talking about the recent revoking of the special status given to Kashmir explaining the details of article 370 that was very informative for the audience. He finally ended by saying, “Welcome back Kashmir. The journey resumes.” Ambassador Vohra’s dynamic lecture with his forceful and powerful delivery left the audience spellbound who gave him a standing ovation. The students and some of the faculty during the interactive session asked him several relevant and interesting questions that resulted in a robust and lively discussion where students expressed their opinions and asked him probing questions. Ambassador Deepak Vohra’s lecture was insightful, informative and full of hope about India infusing a sentiment of patriotism among the students.

Ambassador Vohra after the lecture with students and faculty members

Faculty Development Program by IILM Gurugram Advanced and Innovative Approaches in Management Education at School of Management at JC Bose University of Science and Technology Many management professors believe that good subject knowledge will guarantee professional success in teaching. However, knowledge of highly sophisticated professional skills, concepts and theories will be useless if the faculty do not know how to prepare and deliver the content in the classroom by using innovative curriculum development and teaching practices as well as adopting new ways of engaging students in

Management Educators. The programme focused on holistic aspect of Management Education and equipped the faculty members and department with new and innovative methods of curriculum development and teaching approaches. Further the program ensured that the faculty was enriched with ways of better student engagement as well as Industry Engagement techniques and methods leading to maximization of output for students as well as the school. Key Benefits • Vital curriculum development techniques • Design and customize teaching approaches • Communicate professional information, innovative ideas, and objectives to students and participants with clarity and force • Use new and innovative ways of engaging students in the classroom and outside • Use new teaching strategies to make their classes more lively, interactive, and interesting • Understand effective Industry Dr Saima Rizvi and Dr Vidhisha Vyas taking a session on Curriculum Engagement approaches and Development techniques the classroom. Apart from this Management Session Planning Education is incomplete without industry Curriculum Development engagement. To develop the competency of the The curriculum of a B-school should be application management department of JC Bose University, oriented and industry relevant with an objective IILM University has conducted a 5 days FDP in to make graduates job ready for various industry November 2019. For two days the participants profiles. The courses should be benchmarked with were present at IILM Campus and for three the best B-schools globally. Curriculum should be days at JC Bose University campus. The sessions robust in terms of readings, articles, links, case were highly interactive and senior faculty of IILM studies, videos and concept notes which students University Dr Vidhisha Vyas, Dr Saima Rizvi, Dr can refer to for a particular topic. Every module Sona Vikas, Dr Pooja Verma, Prof Ruchi Shah, or course should also have a learning objective Prof Sangeeta Sumbly and Dr Pinky Goswami and it should also be mapped with the program conducted the sessions. level goals it aims to achieve. Program level goals Purpose of FDP will aim to build certain skill sets, knowledge and Advanced and Innovative Approaches in competencies in the graduates over the program Management Educationare required to fulfill the duration. The focus of the curriculum and delivery changing needs of students, industry and job is therefore to adopt a wide spectrum of activities market. This FDP was an intensive intellectual and in various sessions and also incorporate innovative action-based engagement for the management assessment to evaluate the student learning at faculty to improve and make them better the end of the course/module. A detailed session

Prof Ruchi Shah and Prof Sangeeta Sumbly along with the faculty and staff of JC Bose University

on the same followed by preparation of a sample module was conducted during the session. Student Engagement Educators have long struggled with discovering student engagement strategies that keep their students engaged in their lesson. Studies spanning back more than 50 years show that students can only keep their attention for about 15 minutes at time before their attention wavers. Students’ short attention spans have been on the top of the list for challenges that teachers face. Often this is due to digital distractions, or lack of sleep, or poor nutrition. Whatever the case may be, teachers are still struggling to keep their students’ attention long enough for them to learn something that they can take with them. Some of the methods of students’ engagement are quite popular and delivered good results such as the following: • Utilize 21st Century Technology • Design Hands-on Interactive Lessons • Transform Learning through Effective Questioning • Provoke conversations and challenge students • Encourage social media usage • Use automation to monitor progress and communicate with students. Industry Engagement To stay young a B School has to be Industry oriented. It’s not only the Industry interface which perhaps becomes the most critical differentiator for B-schools worldwide but how pervasive is its weave across the length and breadth of this interface that decides the zeal of staying ahead. This has a strong bearing on a school’s intellectual capital too.The critical indicators of the level of industry interface known to all of us are: • Number of joint research projects taken up with industry • Number of field cases authored by faculty • Number of live cases that students take up with industry • Number of open management development programmes (MDPs) conducted

• Number of consulting projects taken up by faculty and the revenue generated from them The secret of staying committed to achieve the above engagement was deliberated upon. What more could be brought from the Industry was a vital take away of the session. Also in higher education institutes students need to be empowered to manage clubs and societies on their own, run the college magazine, FM or an NGO. They should be made part of decision making such as food and hostel committees. Evening lectures by eminent speakers and seminars, talk and panel discussions on contemporary issues are also very important. Teaching and Learning It is an accepted fact that teachers are usually not born but made. Good teachers nurture their knowledge and skills through constant and deliberate efforts. One of the prerequisite to be good teacher is to understand the teaching learning process in depth. This facilitates better

Prof Sangeeta Sumbly taking a session on Industry Engagement

appreciation of the teaching profession as well as the process of imparting education. This session focussed on how to make teaching and learning a journey to explore the subject and makes students lifelong learners. The session involved: • Innovative Methods of ilecturing • Flip Classroom and Blended Learning • Online Learning • Case Methodology The programme offered a tremendous learning opportunity to the participants and helped them gain the latest skills, strategies, and tools needed to conduct effective and result-oriented sessions.

Faculty Development Programs IILM, committed to excellence in Management education, believes in enhancing the academic and intellectual environment by providing faculty members with ample opportunities to learn from some of the renowned academicians of the country’s premier institutions. In this endeavour IILM organized several Faculty Development Programs this year to elevate the quality of teaching skills required in contemporary management education in India. Global Economic & Financial System and Policy Issues in International Trade Professor Sanket Mohapatra, Professor, IIM Ahmedabad Conducted at IILM Gurugram Campus, this FDP was attended by faculty members from all three campuses and some selected students. Session One The day long FDP started with its first session focusing on the evolution of Global Economy from the past to the present which covered the history of International Monetary System - from Gold standard mechanism to Bretton Woods/ IMF/IBRD/World bank to different phases of Quantitative Easing (QE) by US Fed Reserve and negative interest rates. Also discussion progressed towards establishment of exchange rate regimes, introduction of Euro and Global Financial Crisis and great recession across advance economies in 2008-09. Session Two In the second session, the case of USA–China Trade war was taken up where deliberations were made upon international trade, finance and development, dispute resolution under WTO, bilateral and preferential trading agreements. The discussion further headed towards growth of Global Value Chains (GVCs) in international trade,

Prof Mohapatra sharing his valuable thoughts with the participants

technology and automation, global welfare gains from trade. The case discussion moved in the direction of various accusations imposed by US on China mainly undervaluing its exchange rate, IP theft and technology transfer, jobs stealing, lack of reciprocity of China in providing similar access to US imports. Session Three In the third and last session, the case of Ethiopia: An Emerging Market Opportunity (HBS Publishing) was taken up. Through the case, thoughts were held on foreign investment flows towards emerging and frontier markets like India and Ethiopia. Assessing macro and micro risks and opportunities in foreign markets play a very crucial role which includes analysis of various factors relevant for foreign investments – political environment, market opportunity and access, industrial policy, ease of doing business, infrastructure, human resources, enforcement of intellectual property rights and competitive position. The case focused on three foreign companies who want to invest in Ethiopia. Four different market entry strategies – import through local agent, licensing, joint venture and wholly owned subsidiary were discussed and solutions sought in the light of the case based data. The FDP concluded with a take home on not just the subject content but also reinforcement of the tried and tested teaching pedagogy of case based class discussion and participation. Largely, it was a great learning experience. The participants gained insight into the global economic and financial system, understanding of emerging and frontier markets, dollar’s dominance in global finance, relevance of trading agreements and factors inducing foreign investments. Managing in VUCA World Professor Amit Karna, Professor, IIM Ahmedabad Session One Professor Karna started with the discussion on why is it important to understand the VUCA - Volatile, Uncertain, Complex and Ambiguous world. The session on Technology and Strategy Making proceeded with considering the case study of Kodak and the Digital Revolution. The case examined Kodak’s transition from traditional photography to digital imaging. He emphasized on three most important elements in business– Value, Price and

An intriguing session on Policy Issues in International Trade

Cost. During the session, Professor Karna proposed that strategy is all about making choices and how by being differentiated a business can create value for its customers. He argued about four trajectories of Industry change, i.e., Radical/ Creative/Intermediating/Progressive in the light of core activities and core assets along with Cognitive Inertia to change. He explained how investments in innovation are more likely to pay off if these pathways are taken into account. Session Two The next session on Disruptive Innovations started with a discussion on the case study of Netflix Vs Blockbuster Inc. The considerations and learnings reflected on what are Business Models and how are they built. A Business Model starts with a value proposition - a product or service that aims to provide convenience and affordability to customer. A business model rests on value proposition, resources, processes and profit formula. Innovations can be of four types Radical, Incremental, Architectural and Disruptive. Incumbents who have blind spots or who ignore

weak signals are likely to be disrupted. Disruptive Innovation impacts the industry as they change the way of doing business with the existing customer. Architectural Innovations recombine the existing technologies into new markets. Disruptive Innovations should first be treated as threat and later as an opportunity during business model development. Professor Karna also spoke about Design Thinking and its relevance in today’s world. He talked about five stages in the design thinking process – Empathize, Define, Ideate, Prototype and Test. Understanding these five stages of Design Thinking can enable us to apply the Design Thinking approaches so as to solve complex problems that occur around us in our companies and in our country. The FDP was attended by faculty members from all three campuses and some select students from Gurgaon campus and it was a great learning experience. The participants gained insight into how to manage businesses in VUCA world and how industries change; what are business models; how are they built and how investment in innovations pay back. Digital Learning and its adoption, with specific reference to Blended Learning Professor P C Narayan, IIM –Bangalore An FDP was organised on Digital learning and its adoption by at IILM Greater Noida campus. The key highlight of the session was to deliver what the students need rather than what the faculty as a tutor knows. This was in continuation with the tradition of conducting faculty development programme at IILM in collaboration with IIMs. Professor Narayan was invited to share his experience with blended learning format and digital platform in classroom teaching. He is associated with IIM, Bangalore and edX, which is an open online course provider in the area of

Prof Karna addressing participants’ queries’ during Q&A Session

finance and accounting. He has a rich experience of over three decades with a unique combination of academics and industry specialising in blended classrooms with the help of online courses. During the session, Prof Narayan highlighted the relevance of blended and flip classrooms vis-a-vis usage of technology as a powerful tool in making class more meaningful for students. He emphasized that students today are vastly different from when the faculty were in their shoes. Most of the faculty were brought up on the age-old tradition of lecture, practice, and assessment-lather, rinse, repeat. Students today were also brought up in the same style but something is different. Something just isn’t working anymore. What do we do? We google it! We YouTube it! We even ask a forum that is knowledgeable on the subject. Why do we do this? Because we know it is the best way to learn in our own style, in our own time. Self-Directed Learning is the new learning. These can be accessed from home or anywhere you have access to the Internet, and are usually delivered through a Learning Management system (LMS). Online learning does not replace traditional learning; instead the two methods of learning are used together in a complementary way, to create a full and inclusive learning experience. Flipped Classroom learning is when you reverse the delivery method in traditional learning. The time in class is spent on working through the concepts being delivered with the guidance of an instructor. Complementary to all of this is an online platform where learners and instructors can discuss with one another. Blended Learning is a combination of online learning, and faceto-face learning. The online learning includes components like video games, podcasts, online

reading material, and online assignments. Professor Narayan started his session with a news piece ‘Dual regulation of banks leads to fissure in the system’, followed by a discussion on how interest rates affect the economy. He made the session interactive by showing self-created videos on edX platform and related it to real life scenarios. Then a second news piece ‘RBI set to cut interest rate in August for the fourth time in a row’ was discussed as an extension of first topic. As faculty, he emphasized on effective learning that can strengthen efficiency and the overall concept of teaching and learning which can be helpful in connecting with the students better through blended learning. Professor Narayan also established a strong connect between Finance and Economics and how it impacts the growth and development globally and in India. The traditional model of learning has primarily revolved around a teacher-centred classroom where instructors focus on conveying information, assigning work, and leaving it to the students to master the material. Though effective for some, this type of instruction has forced students to be merely receptors of information, rather than participants in their own learning processes through active learning. Fortunately, as technology has increasingly grown and infiltrated our classrooms, a new learning model has emerged that moves away from a teacher-centred space, and onto a more collaborative, studentcentred learning environment, by way of a flipped classroom. The FDP emphasised to change the method of teaching with changing times and demands and was extremely useful for the faculty of IILM who were enthusiastic about using blended learning in their classrooms.

Professor PC Narayan, IIM –Bangalore, with the participants at the FDP on Blended Learning

Industry Visits: Bridging the Gap between Theoretical and Practical Learning Learning from textbooks, lectures and other study material does not suffice for holistic learning. Practical, hands-onlearning is essential for better understanding of work processes and business functions. For students pursuing Marketing/ Finance/Operations/Supply Chain etc., industrial visits help them gain hands-on experience of how industry operations are executed. Industry visits bridge the gap between theoretical training and practical learning in a real-life environment. They provide opportunity for active/interactive learning experiences in-class as well outside the classroom environment. Students are able to better identify their prospective areas of work in the overall organizational function and they also help enhance interpersonal skills and communication techniques. Students become more aware of Industry practices and regulations during Industry Visits and they broaden the outlook of students with exposure to different workforces from different industries. IILM believes in experiential learning where theory is supplemented with practical experience and application of concepts. As part of this thought IIILM has adopted the practice of Industrial Visits as a value-added learning method for management students. IILM took the students on several Industrial Visits where students had a great learning experience. OYO Corporate Office We got an opportunity to visit OYO Corporate Office in Sector 69, Gurugram as a part of Industry Visit. OYO is known as the worldâ&#x20AC;&#x2122;s fastest growing operated hotel chain which focusses on providing standard rooms at affordable price with high quality and basic amenities like air conditioner, Wi-Fi, breakfast, television, etc. OYO stands for 'Own Your Own'. It does not own most of the properties rather it operates them. The objective of the visit was to gain insight about the working of hospitality sector and comprehend the theory studied in our curriculum with practical business environment. We met Ms Pooja Falwariya who was working there as an HR Manager taking care of campus placement and learning. She is an alumnus of IILM, Lodhi Road, 2017 batch. She shared her professional life experience about the internships with reputed brands such as Marks and Spencer, Sterlite Power, Dassault, etc. which helped her

gain practical knowledge and exposure required for corporate life. Since it is a fast changing world, we need to keep ourselves updated with the happenings and focus on acquiring new skillsets. We learnt about the working of OYO hotel chains, its strategies and different business models like OYO Townhouse, OYO Life, OYO Weddingz, Oyo Power Stations. Its hotels are also listed in Make My Trip, Clear Trip and other platforms which helps in increasing its market share. We were amazed with how it was started by Ritesh Agarwal when he was just 18 years old and how he transformed the conceived problem into business opportunity. We wanted to know the role of HR in OYO. We learnt that the role of HR is not just limited to managing people which is considered as the technical definition of HR, rather it is much beyond that.

Students at OYO, worldâ&#x20AC;&#x2122;s fastest growing affordable operated hotel chain

The personal experience shared by Ms Pooja provided an overview of corporate life. Since it is a fast changing world, we need to keep ourselves updated with the latest happenings and focus on acquiring new skillsets. Overall, it was good industry visit. We got an opportunity to learn many new things. We were also able to comprehend the theory studied during our course with corporate world. We would like to thank our college who gave us an opportunity to be a part of such visit. We look forward to such informative visits in future. Winnie Ranjan PG 1

T&T Motors T&T Motors are the dealers of Mercedes-Benz vehicles in Delhi/NCR & Rajasthan. With exclusive retail business in these markets, T&T Motors is well positioned to satisfy customer demands in Sales & Service. World-class facilities enable a competitive team to get ahead of others in customer enhancement. The Industry Visit was at the Flagship Store at Mathura Road where we were greeted and welcomed by our facilitator at the T&T premises. Mr Jha briefed us about the three important things that keeps any organization alive and successful - People, Processes & Product/Services and we were given a detailed presentation about the company which began with detailed information about T&T (Talwar & Talwar) Motors and its vintage history in the industry having an experience of 75 years which now happens to be a kingpin in automobile retail industry with sales of 2000 cars & 30000+ cars being serviced every year. We were also told about the fact that T&T holds 90% of the market share in sales of Mercedes Benz cars in Northern India. Not only Mercedes but the Allied group of T&T are also responsible for bringing the new potential international automobile brands like KIA in India. They already have 4 stores set up in Gurugram & Noida. Thereby we were briefed about the company presence in the northern part of the country and its network. After the descriptive company overview, the major part of the presentation and meeting was about HR aspects of the company and their policies in the segment, by telling us about how their recruitment drive and selection of appropriate candidates to work for their organization results in obtained the desired numbers at the end of the year. It was made obvious and clear about their transparent system and approach towards hiring and how as an MBA or PGDM students can build their profiles to land themselves in such organizations. Talking about recruitment, Mr Jha shared his viewpoints and must dos for a management student about how we should groom ourselves in the industry by sharing his own example. Right after this discussion he made us familiar with the work culture and benefits from an employee perspective and talked about: • Employee Welfare Policy • How to keep an employee happy and his security • Career opportunities & growth at T&T • List of best HR practices adopted by T&T • Compliance & Integrity These were the few topics which we all discussed

in depth. We also had an interactive exchange on the topic Whistle Blower under company policy and compliances. We were also told about the types of jobs offered at T&T Motors – Mercedes Benz such as Technical Jobs. For students with Engineering & Diploma in Engineering Background and Management Jobs for MBA/PGDM students (Specialization in HR, Sales and Marketing & Client Relationship Manager). After the presentation few of us were allowed to visit the high end unit of the Mercedes Benz (AMG) along with Karan Ahuja (APC Sales Expert) and were briefed about how these cars are manufactured, their technical details and most important how operations and handling of these vehicles is completely different from others. We asked a lot of questions that were answered to our satisfaction. This was a very interesting and educative Industry Visit where we learnt the following: • We gained new knowledge & experience about premium car retailing and high end service facilitation in Indian Auto Industry.

Students at T&T Motors, dealers of Mercedes-Benz vehicles in Delhi/NCR & Rajasthan

• We were briefed about T&T motors and its history, their presence in the country with different kinds of showrooms having their own specialty. • We were briefed about organization’s unique HR practices and how it has helped them set themselves apart from the industry and thereby emerging as a retailing brand. • We discussed about Major HR practices from an employee’s point of view like EWP, career opportunities, how to keep an employee happy etc. Akash PK PG 1 L'Oréal L'Oréal is a French personal care company. It is the world’s largest cosmetic company and has developed activities in the field concentrating on hair colour, skin care, make-up etc.The industry

visit was very interesting where we initially began with the introduction of all the students. We were first told about recruitment and how the strategy has been changed with more off campus recruitment. We were told about IILM alumni working at L’Oreal and how a majority of people working at L’oreal are part of the Sales Team. We were apprised about the benefits at L'Oréal such as thirty days of annual holidays; foreign visits; one month salary as gift when you get married; priority on the safety of women and daily travel allowance which is the highest in industry. On students being more employable we were told that we should be clear about what area we want to work in and should be passionate about it because during interviews L’Oreal looks for attitude in candidates because while work can be taught, passion and attitude cannot be taught. Ayushi Goel PG 1

parts of northern India. We were also told about the production and the products of the company which is mainly in south India and it is local in their production process catering to the local tastes. We also learnt about the operations and how the Company’s model is fast changing to cope with the dynamic environment. Some of their concerns are the large volume of compliance work and employee retention. We were also shared the job profiles for HR, Finance and Sales roles that are located mainly in the southern parts of India, Mumbai and Kolkata. They have 600+ employees on payroll and the factories work as separate profit centers. The visit was very interesting as we gained insights into the operations of FMCG Industry, work profiles in this industry, particular skill set required to build a career in the FMCG industry. We were briefed about 3 major aspects, Production, Working (format and procedures) and Job Profiles. Some other valuable insights that we gained in this particular company was about HR practices and it’s specific approach of handling finance (front ending roles) & sales force. Smriti Garodia PG 1

Industry visit at L’Oreal the French personal care company

Modern Foods To know the working of FMCG industry, the work profiles, skills required for being a potential employee and also to find area of interest as management students, we visited Modern Foods. The visit began with the introduction of the company which included the company’s interesting history. It was the first major company to bring bread to the Indian market in 1965. The company was acquired by HUL in 2000s but the company’s performance was poor as a result of which about 7-8 factories were shut down. Later, Everstone Capital Private Equity acquired Modern Foods and targeted to grow the company’s revenue but due to demonetization and the news of presence of potassium bromate in the product, they fell short of the target. Now they are working hard to achieve the goal. The company has faced many ups and downs but continues to deliver best quality products pan India except for some

Students learning about the FMCG industry at Modern Foods

KANTAR IMRB KANTAR IMRB (formerly IMRB International) is a market research, survey and business consultancy firm. Headquartered in Mumbai, India with operations in over 15 countries IMRB is a part of the Kantar Group, WPP’s research, insights, and consultancy network. With over 1200 employees, KANTAR IMRB is one of the largest providers of market research in India in an industry estimated to be worth a minimum of $ 187 million. As the oldest market research company in India, KANTAR IMRB has been responsible for establishing the first and only household panel, the first television audience measurement system and the first radio panel in the country and has played a key role in the

development of market research in India. It has been rated the ‘Best Market Research Company’ by industry body Market Research Society of India (MRSI) for several years. The visit commenced with the introduction to 'Market' by Mr Jones where he explained that market can be geographic (Delhi), demographic (Youth), industry/product (Computer). He conducted an activity (DOG) to explain reasoning, HYPOTHESIS (expectations prior survey), Sample Survey and Proving/Disproving of Hypothesis and explained the types of Market Research (Open Ended and Close Ended) and their application. We were also briefed about the different bases on which Market Research is conducted and told about different frameworks used for understanding markets. We also learnt about the Company’s Vision - to provide services to client to make it an extraordinary world as well as the services provided to their global clients - Vision Strategy,

KANTAR IMRB, a market research, survey and business consultancy firm was an interesting exposure for the students

Brand Strategy, Performance Optimization & Prediction among other services. We were told about the usage of technology such as Facial Recognition, Specialist Software, Heat mapping, Barcode Scanning, Virtual Reality and the development of SEC (Socio Economic Classification) which used as a standard metric. We also became aware about their contribution towards Government Scheme – Swach Survekshan Grameen - using app-based technology which ranked districts based on Rural Sanitation (Issued by the Ministry of Drinking Water & Sanitation). Finally we had an interesting discussion about job prospects and skill sets required for a job in the market and students had many queries which they answered. This was an interesting industry visit that exposed us to the real world outside our classrooms. Sai Varsha Reddy PG 1

AMUL AMUL is the largest food brand in India and Asia. It has a diverse portfolio of consumer products ranging from milk, yogurt, ghee, paneer, butter, milk powder, ice-cream etc. It holds 33% market share in India and faces competition from brands like Nestle, Mother Dairy and Britannia. The reason for AMUL’s success is good quality products, value for money, easy availability and most importantly its robust supply chain and strong distribution network that initiates in villages and ends in our consumption baskets. Students of BBA Batch 2019-22 were taken on a company visit to Banas Dairy, Faridabad. Company Visits are educational trips as they reinforce the lessons taught in the class. It is a great bonding experience for both the course faculty and the students. New environment and interaction with the company management provides an experiential learning experience for the students. It’s a transition from instructional class formats to experiential learning. The institution provided the students with a member of the Amul plant to walk them through the dairy and give a detailed description of the products from the procurement to its sales. The students met at 10.00 am at the dairy dressed in formal attire where they started their journey to this new experience. The students were guided through the plant and were shown how the milk is packed in plastic packets from the tanks and were explained the procedure for the same. They were also given details of how Amul processes cottage cheese and then further uses it’s residue to manufacture milk powder. After understanding how the extensive line of products is sold by Amul, the students were seated in a room where the plant members projected a worthwhile documentary that consisted of Amul’s history, how the milk is collected and converted into different products, its product as well as stories of the consumers and importance of Amul in their lives. The students were also given milk and ice creams by Banas Dairy during the documentary which they enjoyed. The documentary built interest in the students and they could ask questions at the end of the projection in order to solve their queries. Their questions were answered by the guide and they were given further details about how Amul functions. With this, the students dispersed with a mind full of new knowledge and an experience they would always remember and acknowledge. Titeeksha Aggarwal, UG 1

Faculty Article

Financial Assets: Equity Culture and Small Savings Rates in India Dr Prabhash Chandra, Professor, Finance The mantra for Indian investing class while deciding on investment of their savings is finding an investment instrument that gives a high, guaranteed return with no risk or low risk and high liquidity. This is perhaps been most the obvious reasons for subdued participation in equity and stocks. The participation rate in general of Indian households in financial assets, and more specifically in equity, is well below the one observed in developed countries. The largest proportion of the wealth of young households in India is in the form of gold and durable goods. The largest share of wealth as Indian households approach the stage of retirement is held in housing and land. Financial assets and pensions account for a very low portion of the total investment portfolio even for the rich. The equity culture in India has not witnessed much change in last 15 years when we compare it to GDP growth in rupee term.The data below on household saving also reflects on amply

clearly on the preference of investing class for fixed return instruments namely Bank Deposits, Non-Bank Deposits, Life Insurance Deposits, Small Savings options with government like the PPF, Pension Funds. The trend though for the FY 2017-18 is encouraging. Is Equity Culture in India visible in real practice? India has a savings to GDP ratio of 30% which is the highest in the world. It is a nation of savers and investors where more than 50% of the population is under 25 years of age. It is also a country that has distinction of having 85% of the household savings parked in fixed deposits. Countryâ&#x20AC;&#x2122;s household invests a meagre 7% in shares and equity mutual funds. The National Sample Survey data for FY2016 puts less than 1% of all rural assets held in the form of equity, the number been marginally higher for the urban households though it is not at all encouraging; overall there is lack of equity culture in Indian household. This trend

Financial Assets (Savings) of the Households (2012-2018)

is much discouraging when we know that the major developed economies such as the US gets more than 50% of household savings in shares and mutual funds, even our Asian counter parts such as Taiwan, S Korea, Hong Kong boasts of far higher participation of household saving in equity and stock market. Source: RBI A fresh lease of life is likely in long term for equity saving habits in the Indian Household with the government announcing market linked rate of interest on some short-term small savings schemes, effective from 1 April 2016, thus the government started to reset small saving rates every quarter as part of the governmentâ&#x20AC;&#x2122;s plan to peg them closer to market rates to reduce

banks to benchmark their fixed deposits on these interest rates and in turn preventing credit rates from being competitive. In medium term the policy decision of benchmarking of small saving rates to market linked prevailing rates will lead to enhanced flexibility for the banks and corporates in fixing their offering on competitive rates and migrate towards a lower rate regime in tune with the global trends. The lower interest rates in small saving, bank deposits will also influence investors to look more closely to equity as preferred asset class leading to higher inflow in this asset class and resultant impetus to equity culture in India. This policy initiatives of government on small saving also

market distortions. The three small saving schemes namely the Post Office Time Deposits with tenure of one, two and three years, the Post Office Recurring Deposits and the Kisan Vikas Patra (KVP) have been hall mark of higher fixed interest rates on small savings and seen as barrier to market based interest rate regime as they cannibalize the bank fixed deposits. The high interest rates of small savings remained high for very long forcing the

bringing about the impetus on comprehensive financial inclusion through the Jan Dhan Accounts with supplementary initiatives for influencing savers to other asset class like equity. These initiatives are with good intent and will bring about holistic changes in saving habits of investing class. It is however needed that these efforts are supplemented from the demand side with RBI, Government and Regulators pitching in with efforts on financial literacy.

Faculty Article

Data as Driver for Decisions- For the Business and for the Managers Saurav Sanyal Associate Professor and Dean, Corporate Relations “Not everything that counts can be counted and not everything that can be counted counts.” Albert Einstein The obsession over data could certainly harm an organization, the statement of W Edward Deming should be seen in the right context and spirit. No one would be allowed or rather should get away with the sweeping statements about what needs to be done in a situation without backing them with facts and data and hence, the data and decisions are critically linked for better outcomes. The quality of decision making is dependent on the quality of inputs. While all of us are aware that GIGO (Garbage in, Garbage Out) could be true in any sphere, the same applies in business as well where better or worse decisions mean the difference between survival and death of a venture, an organization no matter how mature. As usage of data gets increasingly more and more important, the above quote (Deming) on importance of data is an excellent starting point for any corporate meeting or intense academic discussion in 2019 and beyond. Business and industry is also waking up to this new reality. As an example the data oriented culture from India, IT behemoth Infosys continues to drive data oriented thinking. Data today is a reflection of the overarching need than a passing trend. Wave of investments in new technologies made by the pioneers in technology space as well as technology led industries that are in various stages of transformation are now aware that these are necessary investments. India’s IT Industry which has been a beacon of global excellence in the past couple of decades continues to create customer value across industries by advancing the frontiers of future technologies in data, analytics and AI space. From a learner’s perspective as significant volume of work has already materialized in the area of

data, there is already huge information overload for business leaders as well as the aspiring ones. A glimpse of learning implications from a data oriented perspective in organizational context in 2019 (both for academia and Industry) need a rider especially with two landmark events that have forced us to take a completely different view of data as a source of value creation in business. The first event was the implementation of GDPR (General Data Protection Regulation) implemented by 25 May 2018 which multinational companies implemented given the significance of global data protection regulation adopted by European Union. The second event is the ramifications on Data Privacy due to Supreme court ruling Upholding the Validity of Aadhaar Scheme (UIDAI) and making it unconstitutional for private companies to seek Aadhaar data from consumers as KYC Authentication. Significantly, I have observed it from close quarters being a part of corporate world in 2018. Though the two events are not connected, it does give the data professional room to understand the far reaching impact on private companies. While experts mine, debate and conclude that data is the new oil, the immediate implications have a lot of insights for business professionals in the next 3-5 years. What are the important learning implications in the managerial domain? Driving the CEO mandate of growth: In a situation where data oriented thinking and technology has made is made crucial impact on strategies, the companies that stay ahead are different from those in the leaders pack couple of decades back. The market capitalization of Top five Organization in the year 2016 (Forbes Ranking by market capitalization) will reveals they are very different from those in 2000. Driving growth means the corporate boardrooms and managers just cannot ignore and keep data at a distance.

These top five companies (Forbes Ranking by m.cap in 2016) shows technology companies such as Google, Apple, Facebook are in the Top five where they did not exist in the space two decades back (excluding Microsoft). All these companies do have enough case studies to showcase that data is indeed the new oil as they moved past Exxon Mobil, GE and Walmart in the annual Forbes charts on Market Capitalization. IT spends (e.g. in Infrastructure, Security, Business Driver, Data Science) are on the rise and so is the strategic impact on the outcomes for product or value driven organizations. Data is a significant value driver: In view of evolving data policy, standard regulations across large economies (US, EU, China, India) and given the regulatory framework that companies will have to adopt as part of the EU Law data is the new wealth creator and therefore to be seen as value driver. Several managers in the industry will concur that the standardization of data privacy laws are already a reality since Mid-2018. Implications on businesses due to the lack of

Institute) and continues to be a top agenda for CIOs in the next couple of years. Analytics Concepts across Domains: The utility of data analytics is a growing field with the business needs growing due to the launch of new tools and technologies that is making availability of personalized data points and thus empowering the consumer. Personalization of Business is a reality. All the top technology companies (including the Top five of Forbes 2016 m.cap. list) have data at the centre of their thinking right from Google utilizing usage data to attract advertisers on their platform, to Appleâ&#x20AC;&#x2122;s interconnected devices utilizing new launches to improve interoperability among their users across B2B and B2C platforms. The level of personalization has now gone into a competitive mode with the dawn of commercialized technologies e.g. Alexa. Today, regardless of the business unit/department of business, data driven decision making is definitely here to stay and driving outcomes is more crucial to business than just top line. Analytics and data driven

compliance to data privacy can run into several hundred million dollars. Therefore the value creation process in businesses in 2019 is going to be very different from pre -2018. Consumer and people oriented models will result in significant outcomes. Further deep dive in technology and corporate world shows increasing investment trends, positive impact on outcomes that are

linked investments from the data. In terms of business implication of data oriented thinking and value creation an emerging area of focus is Artificial Intelligence (AI). It is estimated that AI investments and adoptions in industries continue to be on the rise over the last 2-3 years as more than $39B investments happened in the areas of AI (Refer to the chart, McKinsey Global

metrics will therefore be key drivers from middle management to senior management roles in corporations. Competitive Forces in the age of Data and AI: Large companies continue making investments in new technologies and resources (HPCC, Cloud Computing, AI, Data Mining Research and Tools) that can allow them to stay ahead in the age of Industry 4.0. A well- known example from industry is Watson which is IBM’s flagship offering in AI space and created waves when pitted against World Chess Champions has impacted several domains of multiple industries from Healthcare to Consumer Goods and Marketing. Of late though (refer to IBM results in 2018), despite big expectations, the revenue expectations for seems to plateau as Amazon has gained ground from Watson’s losses. AI, apart from being a multi-billion dollar category that will continue to provide business opportunities despite the growth challenges from competition (Amazon Web Services (AWS) from Amazon, Cortana from Microsoft have continued to chip away at IBM’s Watson). What is in it for the future management professionals and academicians in this domain? Given the tremendous impact of data oriented technologies which are impacting every aspect of industries – right from technology producers to technology consumers, it is important for management professionals and business leaders to review the collaboration opportunities. Impact on business models and creation of new ones: At the top, while Alphabet Inc (Google) continues to effectively monitor and monetize significant number of initiatives as part of its annual plans, there are business case studies that speak about the impact of people analytics at the heart of how Google works and succeeds through people analytics. Examples can be seen from the way technology companies are using the data from Google searches to help advertisers and spawn new business models to IP protected proprietary resources in product organizations. This is also an opportunity for management professionals to embark upon a learning model at the heart of academia’s interaction with the technology industry to understand and create new business models in partnership. Impact on employees’ roles in future: As we understand and discuss the impact of Industry 4.0 on employee roles in future, it important for us to develop a deeper understanding of the long term impact. McKinsey Global Institute which has studied the reports on Global Level and mentioned the possibility of 800 million jobs

being created globally against 400 million jobs will be lost (estimated by around 2030). Impact could be as much of 10% of India’s workforce population and 15-17% in China. The positive impact that will come out in terms of jobs in the areas of Data Analytics, Cyber Security Jobs, Data Generation, Data curation, data storage etc. At the other end of the ageing population he also mentioned about the recent conference on Robots for assisted living, Spain where Humanoid Robots role is being looked at. We are seeing increasing number of reports showcasing the requirements of data scientists (2016 industry estimate at 1 million) to jobs that currently that do not exist. Skill Sets will be more in numbers and requirements will keep changing: Skilling and re-skilling at the entry level roles are crucial as the Jobs of 21st Century will be led by Data Experts, Scientists, Machine Learning and Deep Learning. Even at India’s policy making level, India’s NITI AAYOG is a very proactive department from the current government which has created the focus on the impact from the future technologies on Future of India’s Economy. It is therefore an immediate need to create resource centres at Institutions for the creation of new skills and knowledge. In conclusion, ignorance about data is not bliss. As content in the business and academic world continues to grow at a rapid pace, the doubling of knowledge is happening in a time range of 12 hours to 73 days to 18 months (the knowledge doubling time varies depending on sector/domain of study). This has an impact across all the various learning and business models in organizations and institutes. New insights will continue to emerge and data as a domain will continue to be a hot topic to tap into for researchers across corporations as well as academics. There is hardly any doubt that vast amount of data and the impact of artificial Intelligence on humankind’s future will be significant. If handled well by the stakeholders the potential for business leaders and managers is significant. There is a high probability of mass unemployment where skills are replaceable by machines and worries on ethical aspects including possible use in undermining fundamental rights, the positive implications also remain extremely interesting. Data could be the harbinger of a new industrial revolution. We just need to keep in mind what Nobel Laureate Physicist Richard P Feynman said in his report on NASA space shuttle Challenger disaster in 1986 “For a successful technology, reality must take precedence over public relations, for Nature cannot be fooled.”

Faculty Article

Social Marketing – Soch Badalna, Samaj Badalna Shahana Qutab Phd Scholar, IILM University ‘Power has only one duty – to secure the social welfare of the people.’ - Benjamin Disraeli World today is a free territory for the forces of technology and marketing to run their influence and rule. There is no escape from the clutches of these two forces on the systems of our life on this planet. If we just look around ourselves, we will not miss even one glimpse of technology and marketing in our surrounding. The ‘infestation’ is very deep rooted. Demands from the new ‘world order’ make it important to be technologically introduced, updated and simultaneously, continuously market ourselves to survive in the competitive wildfire. No doubt, life in many ways has become easy and comfortable, the drawbacks abound. Focus has shifted from real issues knocking hard at us e.g. drug abuse, poverty, malnutrition, hunger, depression, suicides etc. and these issues need urgent address. This is where ‘Social Marketing’ comes to the scene. Social marketing can be of tremendous help in aiding natural transformation towards adoption of positive social behaviours by the masses. In contrast to commercial marketing with its focus on profits and commercial benefits, social marketing aims at achieving social good and social benefits. In the 1960s and 70’s the unethical practices of many companies became public. The concept of Social Marketing surfaced in 1972; a more socially responsible, moral and ethical model of marketing, countering consumerism. Philip Kotler introduced the concept of social marketing and societal marketing. The societal marketing concept evolved from older concepts of CSR and sustainable development and implemented by several companies to improve their public image through activities of the customer and social welfare. In 1971, Philip Kotler and Gerald Zaltman published the first paper on social marketing as an official discipline in the Journal of Marketing. The title of the article was “Social Marketing, an

approach to planned social change”. If one looks at it closely, social marketing has been prevalent from historical times. Ancient Romans and Greeks had launched campaigns against slavery. During Industrial Revolution many campaigns advocating women’s voting rights or abolition of child labour were launched. Social marketing in simple words intends to change human ‘behaviour’. It triggers a new thought process, even where beliefs are set in stone. It strives to achieve social benefit, not commercial profit which remains the focus of commercial marketing as we know. Social marketing is like a steering wheel that manoeuvres human social behaviours of its target market the way it intends to. Exclusive and in-depth analysis of mind-sets, belief systems, practices prevalent in target strata of society, is starting point of social marketing wherein nothing is left to generalisation. The term is fast picking up traction among intellectuals, academia, students and policy makers and significant research and projects are taken in the sphere, world over. The applications of social marketing are majorly found in public health and environmental issues but are not restricted to these two areas only. The relevance of social marketing is not only for the poor and underprivileged but applies to all strata of population wherever a behavioural transformation has possibility to result in social good. Three considerations in marketing strategies are balanced in Social Marketing: company profits, the consumer wants, and society’s interests. • Society (Human Welfare): Companies must make sure the products, services, actions, investment innovations servers society first. • Consumers (Satisfaction): Products and services should be satisfying the consumer’s needs. • Company (Profits): Building long-term customer relationships, being socially responsible, and providing satisfactory products are important

for profit-making and wealth maximization. Social marketing is an exercise for upliftment and progress in social domain. It includes initiatives taken by government, NGOs, corporates, individuals, to manoeuvre social behaviours of target audience towards social good. In developing and populous countries like India, social marketing benefits millions at grass root levels. It serves a means to an end. If the welfare interventions are not propagated strategically among the intended audience, they will lose their appeal due to lack of awareness, clarity or understanding. For nations, provision of social benefits and empathy builds a sense of trust and self-respect in the masses and deepens their sense of nationality. To aid and actualise proper propagation of social welfare initiatives, social marketing is a wonderful way for â&#x20AC;&#x2DC;dreams to come trueâ&#x20AC;&#x2122;, for a community, for a nation. At the helm of the social marketing effort can be a group, organisation and even an individual. Some noteworthy examples of social marketing campaigns worldwide are: 1. GYT (Give Yourself Test run by Centres for Disease Prevention and Control -CDC, USA and sponsored prominently by MTV, Planned Parenthood, The Kaiser Foundation aims at informing young people about sexually transmitted diseases, encourages them to get tested and connects them to testing centres). 2. ALS Ice-Bucket Challenge campaign by ALS Association to bring awareness in the public towards the disease. 3. Kimberly-Clark works extensively in the field of social marketing with its flagship programs like Toilet Change Lives, No Baby UnHugged Program and a program for promotion of

menstrual hygiene in collaboration with Kotex. 4. Selfie with Daughter Campaign to strengthen Beti Padhao Beti Bachao scheme of Government of India. 5. USAID sponsored experimental Social Marketing Project, 1983, and in 1990-93 in selected Integrated Child Development Services (ICDS) projects in Gujarat and Maharashtra. The Project Director for this experiment was Dr. S.Y. Quraishi, Ex. Election Commissioner of India and current Chancellor, IILM University. 6. If we look in history, in early 19 th century and important social reformer of India, Raja Ram Mohan Roy, Father of Indian Renaissance, formed Brahma Samaj, which was a socio-religious reform movement. Brahma Samaj played a major role in influencing the society against harmful practices like child marriage, Sati (burning of woman on the funeral pyre of her dead husband) and changed the society in accepting equal rights for women and modernising Indian education. Today, when technology has become all invasive in our lives one way or another, technological interventions can greatly enhance the reach and success of social marketing campaigns. The social marketing strategy, though arduous from the very planning and implementation stage, is immensely fruitful if done right. Mountains can be moved. Long standing social problems can be corrected once astute insights on mass audience psyche are obtained and analysed and messages to be marketed are then accordingly crafted with creative appeal. Next, audience orientations regarding the messages to be marketed must be delivered by well-trained personnel in an intelligent and empathetic way. The results thus achieved will be long term and sustainable because social marketing campaigns attempt to change behaviours from within and build good social practices that translate into healthy lifestyles in the long term. To conclude, it is important to emphasise that opportunities for a society or community to be better than before will always be there and social marketing will always be relevant in todayâ&#x20AC;&#x2122;s world of rampant social injustice. Therefore, it will be better for reformers , marketers and policy makers to adopt the mantra of social marketing - Positive thinking will initiate positive beliefs, which in turn guarantee a progressive existence. Soch badalna, samaj badalna!

Book Review

Handbook of Advances in Marketing in an Era of Disruptions Essays in honour of Jagdish N. Sheth Edited by Atul Parvatiyar and Rajendra Sisodia

Handbook of Advances in Marketing in an Era of Disruptions is meant to share ideas and new knowledge that are relevant to this world of disruptions. Leading scholars from around the world, who have keenly observed the changing market environment, business policies, parameters, theories, methods and practices, have put forth their theses on how marketing thinking needs to evolve to keep pace with the market reality. This book is dedicated to Professor Jagdish N. Sheth and honours his sustained contribution as a management thinker, scholar, academician and corporate adviser in an illustrious career spanning over five decades. The world of Marketing has changed tremendously over the past decade or so and this book provides a fresh perspective on how organisations need to rethink and re-envision the marketing landscape, in an era where technology and analytics have invaded every sphere of an individualâ&#x20AC;&#x2122;s life. Organisations need to enhance customer value and enhance the customer experiences by garnering a better understanding of the consumer cognitive space, and maybe even revisit some of the traditional marketing ethos. The approach to reimagining marketing is absolutely fresh and unique. The book has inadvertently established a community of marketing legends in one printed volume, urging firms to adapt to the changing dynamics, leverage technological developments, awaken to the era of blockchain, artificial intelligence, machine learning etc. and explore associated implications for corporate practitioners, consumers and academia. A book launched by Professor Atul Parvatiyar to honour his mentor, the legendary Jagdish Sheth, (who has been fondly termed as the Jaguar of Marketing), has a foreword by the marketing guru, Philip Kotler and is a must read, especially as it attempts to challenge pre-established marketing disciplines and invited practitioners and academicians to think with a fresh perspective. This book is very relevant as the worldis in a period of

huge disruptions in markets, media, management approaches and business models which are a result of rapid technological changes on the one hand and shifts in customer preferences and societal behaviour on the other. This book rightly emphasizes that Marketing knowledge and practices have to advance at a significantly higher pace to address the changing context of market behaviour and the freshness of content makes it a must read. Of significance is the contribution by Professor Naresh Malhotra, on using social media for marketing research, which is very relevant to researchers today. Equally valuable is the article on Customer Journey Modelling, which is a collaborative effort by several authors, and is a valuable contribution for brand managers who are continuously striving to improve the RoIe of marketing spending.The book emphasises contemporary fields like sustainability, socially conscious marketing efforts, and the evolution of marketing technology. Shruti Choudhary Associate Professor, Information Technology

Book Review

The Third Pillar: How Markets and the State Leave the Community Behind By Dr Raghuram Rajan Raghuram Rajan, University of Chicago Professor, former IMF Chief Economist, Head of India’s Central Bank, and author of the 2010 FTGoldman-Sachs Book of the Year Fault Lines, in his latest book 'The Third Pillar' propounds that society’s foundation rests on three pillars - the State, Market and Communities. He discusses how these pillars interact by providing a historical perspective of the three pillars. The “third pillar” of the title is the community we live in. Dr Rajan writes that technological changes have created a “winner takes most” economy. Improvement in communications has made corporations more productive. Automation has caused unemployment for low-skilled labor, but it has also created new opportunities for those who are skilled in the processes of automation. While these skilled workers have gained, the low-skilled workers who could not upgrade their skills find themselves out of work. This is creating inequalities in societies. Rising inequalities have resulted in resentment against immigration, which a major factor for the UK’s decision to leave the EU. This is eroding the pillar of community. China’s focus on state-owned enterprises as an engine of growth and corruption in India is also undermining the balance among the three pillars. Dr Rajan suggests that these countries must reconcile increasing national diversity and the rising fear amongst their citizens that they might face a loss of cultural identity. How can this be achieved? The solution offered by Dr Rajan is inclusive localism which revolves around decentralization of power. Dr Rajan opines that immigration brings benefits to countries as this brings in talent and the immigrants eventually became part of the society after a few years. But there is a cost associated with immigration in the form of a thinner and uneven social security net. In the context of businesses, inclusive localism implies that state and local counties are empowered to decide whether to allow big businesses to expand the business. State plays the role of mediator as it helps in increasing cohesion amongst local communities. The author presents an example of the city of Indore in India. Ms Malini Gaud, the elected mayor of Indore and Manish Singh, the municipal commissioner felt that the Indian city was suffering from chaos, filth, pollution and unhygienic conditions. Ms Gaud began with changing the image of cleaning staff. They were given new uniform, new trucks fitted with GPS, and their attendance was recorded using the biometric system. She fined the staff that did not adhere to these charges. She also introduced monetary penalties on those who engaged in the spread of garbage. The result was that the community felt an obligation and a sense of purpose. This resulted in increased cleanliness in the city and in 2017, Indore ranked the cleanest city in India, (its rank was 149 in 2014). The residents feel a sense of pride in this ranking and they are striving hard his maintain it. Dr Rajan believes the policy of

encouraging communities at the cost of stifling markets would be disastrous. Instead, the author recommends improving the functioning of markets. The author concludes that the three pillars of society- State, Market and the Communities are facing dynamic changes because of economic and technological shocks. The ICT Revolution and Global Financial Crisis of 2007 have resulted in the need for rebalancing these pillars. Dr Rajan offers a way to rethink the relationship between the market and civil society and argues for a return to strengthening and empowering local communities as an antidote to growing despair and unrest. This book is marked by clarity, in-depth knowledge, and recommendations that would benefit business people, policy makers and academicians. The Third Pillar is a book that is a classic offering wise, authoritative and humane explanation of the forces that have resulted in the dramatic changes in our lives. Dr Gurpreet Singh Bhatia Associate Professor, Economics, International Business and Public Policy (Statistics)

Student Article

Blockchain: The Newest Superpower

Let’s get started with some simple examples. Imagine if you are able to track the journey of all the ingredients in your food starting from the farm where it was grown to your table. Imagine if you are assured that your vote was counted. How cool and useful that can be! This all is possible with the help of Blockchain Technology. Blockchain is no more a futuristic technology as its already here and many blockchain networks are already in use and making life easy for many people around the globe. It makes things transparent, democratic, decentralized, efficient and most importantly secure. As it is a network, so it is a teamwork. No single institution is the blockchain. It’s all about a group coming together. So, let’s see how it works and what its uses are and how it is changing our world. What is Blockchain Blockchains are basically a chain of blocks that contains information; it is an open and distributed ledger that can be accessed by anyone. This technology first came into picture in 1991, used to timestamp digital documents to make them impossible to backdate or tamper them. Then it was used by Satoshi Nakamoto in 2009 to develop and secure the digital crypto currency Bitcoin. A blockchain consists of blocks that are linked with its previous blocks and in this way the chain is created. A block consists of three elements. First, is the related information on the subject that the blockchain is build upon like in the case of Bitcoin the information can be about the

details of a transaction that are the sender’s name, receiver’s name and the amount of coins transferred. Secondly, Hash of the block which is a unique code or called as the finger print of the block and is calculated according to the information added to the block. And thirdly, the Hash of the previous block that helps in creating a chain like structure and also keeps the blockchain secure for example when anyone try to tamper with the existing data of a block, the Hash of that block changes and the link gets broken eventually making all the previous blocks invalid. But still this is not enough for the security as these days computers are so powerful that they can calculate many Hash values and can make the blockchain valid again within seconds by perfectly replacing the new Hash values. So, to make a blockchain more secure there is a mechanism called as 'Proof of Work'. It slows down the creation of a new block. The required time to calculate proof of work in case of Bitcoin is 10 minutes. One more way of keeping it secure is that as it is open to all the members(nodes) of the Blockchain network, each node has a copy of the Blockchain and keeps a check on the it. And in case of a new block is to be added to the chain, its first validated and authenticated by all the nodes according to the consensus created together by them. So, when you try to successfully tamper the data in a block, to make it valid again you will need to calculate all the new Hash values and proof of work for all the following blocks and take control of more than 50% of the network, which is almost impossible to do. Here all the nodes have control but none of them are exclusively in control of the Blockchain. Here a peer-to-peer network is present rather than a centrally managed network system. Changing the World Blockchain can be used in many ways such as for storing Medical records, E-notary, Collecting Taxes, storing patents and discoveries according to their timeline to avoid controversies, to secure your user id and passwords more efficiently and can prevent over-information and the list goes on. So now let’s see how it’s changing our

world, some of the existing Blockchain networks with block heights over a million blocks are IBM Global Finance, Walmart on food safety, Maersk on trade digitisation etc. All the leading companies are accepting this technology as soon as possible as it helps them immensely. For example, earlier it used to take more than a month for the companies to solve a dispute but now it takes less than 10 days. All the CEO’s and CFO’s are impressed with this technology, as its transparent so is very helpful in reaching to a common decision sooner. Some of the industries that are being affected or are going to be affected by this technology are Banking and Payments, Cyber Security, Supply Chain Management, Forecasting, Networking and IoT, Insurance, Private transport and Ride Sharing, Cloud Storage, Charity, Voting, Governments and their Systems and Operations, Healthcare, Energy Management, Online Music, Retailers (small or huge like Amazon), Real estate and Crowd Funding mainly in case of Start-ups that can be your own new company. Blockchain is here to stay The shared ledger technology, which is also referred to as Blockchain technology is regarded as one of the most prominent ideas being developed today with the potential to transform the market. Satoshi Nakamoto is believed to have come up with the first Blockchain database, which is viewed as the most disruptive technology in several years. This technology has had a significant impact on several industries including healthcare, entertainment, data safety, business, and finance. The considerable growth this technology has achieved in recent years informs the belief that it is here to stay. Here are the three main reasons why: Decentralization of Systems: Decentralization represents one of the core attributes of Blockchain technology. This technology

targets the elimination of intermediaries in financial transactions. Traditionally, financial transactions were characterized by people putting faith in banking institutions to wire their money to another individual’s account. However, the decentralization attribute of Blockchain technology means that such individuals are not necessary because a single authority charged with the responsibility of approving a transaction does not exist. Increased Transparency: Since this technology will facilitate the decentralization of systems, one of the benefits that come with this development is the enhancement of transparency. Virtually, the decentralization of the ledgers on Blockchain ensures that every party within the network can access the details and information stored on them. This aspect is achieved through a copy of the ledger being created on every system that has been linked on the Blockchain. As a result, users connected to a specific Blockchain system are alerted in case any modification is made to the network. Improved Security: This issue represents blockchain technology's most famous feature because none of the Blockchain Networks have been breached so far. Another core factor that contributes to the security robustness of Blockchain Technology is because it utilizes Cryptocurrency and the blocks are safeguarded using unique private keys. In case an individual wants to make a monetary transaction on the Blockchain, he/she is assigned a key that can be utilized to finalize the transaction between him/ her and the individual they are supposed to transfer the money to or receive it from. Blockchain Superpower is real, unlike DC and Marvel Superheroes with their superpowers, it can’t be avoided or ignored. It’s here to stay and is ready to take on the world and will affect each and every one of us. It is termed as a disruptive technology, especially because businesses are beginning to identify strategies through which they can leverage it in their activities to capitalize on the advantages of this continuously evolving technology. But that does not mean it doesn’t have any challenges which include regulatory and stability issues that need to be resolved. We are still far away from mass adaptation of this technology but the future is going to be exciting, hassle-free and secured with Blockchain. Rajesh Patra PG 1

Student Article

Myth of the Great Indian Middle Class

Myth of the Great Indian Middle Class “Change is not a destination, just as hope is not a strategy.” - Rudy Giuliani (Former Mayor of New York City) As we all know that the Indian market is a huge diversified market which is complex in its nature, heritage, culture & religion. Taking cue from the historical data of Indian Economics, Philosophy, and Culture, we get a detailed understanding of Indian economy and the Marketing challenges faced by the global enterprises who want to expand into India. As India is not an easy market to understand and operate in, companies have to go through different and extreme marketing strategies in order to penetrate the market. Indianized Products India is the 7th largest economy of the world and is expected to take the 4th largest position by the year 2022, but it has a low per capita income. So, global ideas on price performance and margin volume equations are totally ineffective. India is an emerging market. The nature of emerging markets is different. But emerging markets need not be virgin markets. The strategy followed should be to change the products to fit the Indian requirements. This is called ‘Indianized Products’. Indian market today is not what developed countries were in their infancy. Countries change around their DNA. The Indian DNA is so different from the rest of the world that the Indian Market will never become like the markets of the western world. After the economic liberalization of 1991, global companies had to make a 180 degree turn in their marketing ideologies. By throwing its doors open to the foreign world, it created two myths the great Indian middle class and the great Indian growth story.Twenty-five years after economic liberalization, the economic power of the middle class has not matched up to expectations. India’s economic liberalization in 1991 promised the creation of a robust middle class.“In the early years of reforms in the 1990s, political and business leaders and mainstream media discourses presented sharply inflated figures of a large untapped middle-class consumer market,” says the Routledge Handbook of Contemporary

India. International and domestic businesses scrambled to position themselves for a share of the burgeoning new markets India’s developing middle class would provide after the government started liberalizing the economy. Over the past 25 years, successive governments and analysts, stray voices notwithstanding, have continued to propagate this discourse. It now appears, however, that the economic power of the great Indian middle class may be more a myth than reality. Companies such as Coke, Kellogg, and Seagram were forced to change their business models to fit better in the Indian Market. In the beginning there was a phenomenal demand boom as the Indian market was now exposed to the huge global market. And this short term high demand led to the myth of the ‘Great Indian Middle Class’. Companies like Coca-Cola nearly bankrupted themselves when they fell for this myth. In the beginning of liberalization, the demand will always be high, but as time goes on, the supply of desired goods may increase, but the income

is still limited. But there is also a steady rise in the use of FMCG products and other services as the per capita income is steadily increasing in a developing country. Products may sell, but it will take time and restructuring of the product to capture the Indian market. This may be termed as the ‘Snowball Effect’ where products will grow, but it will take time and the path is meandering. Global ventures need to rethink their ideas and marketing strategies, and come up with plans like ‘Made in India’ & ‘Indianized Products’. Old meets New The Indian market is different and contradictory. It forces the business class to go cheaper but demands the best service out of it. Global business leaders satirically states India as “a bullock cart to business class”. India is a Nuclear Superpower; it has pulled off Green Revolution. But it cannot implement the simplest reforms in the most basic needs. Indian markets can be described as a place where old meets new. Even after struggling a lot with the Indian market, multinational companies still want to enter the Indian market because India is a ‘guaranteed to happen’ story. To survive in the Indian market, the demand structure and the marketing strategies have to be completely different. In the book ‘We are like that only’ the author Rama Bijapurkar describes this unique model as “The Great Indian Rope Trick” which is a perfect symbolism. Studies indicate that the growth that is on its way in the Indian Market will be mostly from the low income households. Here the low income households outnumber high income households by at least 9 to 2. So the new marketing strategies devised are tailor made for the low income household. This segment of consumers is termed as ‘Bottom of Pyramid’(BOP) consumers. One of the first marketing strategies developed in this concept is shampoo sachet. It is a product that is specifically made to supply high end products to low income household which cannot buy the said high quality product and this concept of “Big things come in small packages” was developed. Giant conglomerates like Unilever followed though this strategy and used power bands like Close-Up, Pepsodent, Sunsilk, Ponds, Vaseline, and Lifebuoy etc., to penetrate the BOP. Other initiatives that were targeted to this segment were; Chotu Kool by Godrej, PUR a cheap water purifier developed by P&G etc. In current terms, this BOP is shrinking. Buying a house, installing running water may be considered as a luxury but products such as TV, electrical appliances, gas stoves are no longer categorized as Luxury products for this segment.

Premium, Popular and Discount There are three broad segments in the Indian market: Premium, Popular & Discount. Out of the total market share, 10% of the population constitutes Premium market, next 30% is the Popular segment and remaining 60% is the Discount market. On the basis of the given data, Indian consumers are classified into five primary classes: ‘The Rich’, who are willing to pay more amount of money for better services, ‘The Consuming Class’, who want the maximum for value given, ‘The Climber’, who want benefit maximization, ‘The Aspirant’, who has newly entered the market, & ‘The Destitute’, who are not yet into consumption. Rural and Urban India are evolving at different speeds. 28 states are totally different from one another. In order to define the true meaning of ‘my target India’ the global ventures need to understand a huge logic of tradition and modernity. In the case of development in rural areas, it is difficult to expand into, but through the help of the internet, wireless broadband and electricity, providing education opportunities we can now aim to achieve social aspirations and focus on child centricity. Now Non-Agricultural sector is nearly equal to the Agricultural sector in rural India and is continuously developing. This also resulted in “The New Emerging Indian Women” concept by breaking the taboo of playing the role of housewife. Now women are free to choose and live their life for themselves. They can now pursue their dreams like becoming an entrepreneur or even follow their passion and become another person’s role model. One Size Doesn’t Fit All In the end the Indian economy is wild and cannot be tamed by any specific market strategy. Here one size doesn’t fit all. Every product has to go through an extensive examination process for entering and surviving in the tricky Indian market. As stated by the esteemed N.R. Narayana Murthy, Chairman, Infosys Technologies Ltd. "developing economies with India and China in the forefront are set to give the world economy its biggest boost in the coming years." It is estimated that in the next decade almost a billion new consumers will enter the Global market as their per capita income increases. So the huge market potential cannot be ignored by the Global Conglomerates and they need to adapt to the needs and wants of the ‘complex and inscrutable’ Indian market. Garima Singhal and Kaustav Bose PG 1

Campus News Lodhi Road 73rd Independence Day Celebration IILM Lodhi Road celebrated the 73rd Independence Day on August 14, 2019 with a program put together by the students and faculty. A medley of patriotic song sung by the choir filled the whole environment with love for the country and hope for a better future. A quiz based on the country was conducted by the students. A Hindi poem by a student made the audience ponder about their responsibility toward their country. The program ended with a choreographed group dance which showed the spirit of unity in achieving something phenomenal. The Independence Day celebration at the institute revived feelings of patriotism and increased the knowledge of the students about the country. Suicide Prevention Day IILM Lodhi Road commemorated suicide prevention day on September 10, 2019 by organizing an Awareness Campaign to exhibit responsible behavior by being sensitive to others’ emotional needs

and by not undermining, insulting or ignoring those in emotional distress. A team of final year PGDM students went to every class to give a presentation to increase awareness and share the message that life is the most valuable thing and that there is hope in every situation. They motivated all to become the agents of hope among those who are distressed. After the presentation students were encouraged to write a quote on inculcating hope. The students also took a pledge by putting a ribbon on their shirts to become a good friend to all. Remembering Gandhi on World Mental Health Day IILM Lodhi Road remembered Mahatma Gandhi’s life to celebrate his 150th Birth Anniversary and World Mental Health day on October 10, 2019. A very thought provoking event was organized at the campus which began with Gandhiji's favorite

Remembering Gandhiji on his 150th anniversary year

Students spreading awareness about Suicide Prevention

Students writing quotes about Hope to inculcate positivity in others

bhajan ‘Vashnov Jan To’ that speaks about the life, ideals and mentality of an awakened human being. This was followed by an audio-visual presentation that depicted the important events on Gandhiji’s life and how they are still relevant in today’s world. A very motivating presentation was done by the students that clearly depicted that despite Gandhiji’s early life being ordinary he became a great man during the course of his life. This is one of the main reasons why Gandhiji is followed by millions, for he proved that one can become a great soul and can bring about change in the world during the course of one’s life if they possess the will to do so. The presentation was followed by quiz on Gandhiji's life and signature campaign on one quality that students would determine to inculcate for self-improvement and thereby bringing the change in the world.

Diwali Celebrations On the occasion of Diwali, IILM Lodhi Road organized a ‘Diya Decoration Competition on October 25, 2019. The competition was open to all students of Undergraduate and Postgraduate programs. Four teams of two participants each participated in the event. Four Diyas were provided to each team which they decorated innovatively. The best two teams which depicted originality, color coordination, neatness and overall presentation were given the first and the second prize. The event was full of enthusiasm and color that completely lit up the whole environment on the campus. This was followed by a Diwali puja and lunch where the foreign students were also invited to acquaint them with Indian culture and cuisine.

An event called ‘Start-O-Sphere’ Entrepreneurship Cell was held in Jesus and Mary College that provided a great experiential learning platform for all budding entrepreneurs. Varied activities such as Open Mic, Start-up Maze, Bollywiz, The Marketing Mania, Games Stall, and much more were conducted. Our students participated in The Marketing Mania competition and bagged the second place. Our Students participated in Brand O Mania Quiz Competition and Ven-You events and bagged the second place in the quiz completion.INITIO’19 is

Students in the Brand O Mania Quiz Competition and Ven-You events Diya decorating competition had enthusiastic participants

UG Students Bag Prizes and Participate in Sports A Business Week called ‘Abhivyakti’ was organised by Pearl Academy at their Delhi campus. Varied competitions and workshops were organised such as Ad Mad Show, Business Idea, Debate Competition, Talent Hunt and Brand Quiz Competition. UG Stage 1 students participated in the Brand Quiz competition and bagged the fourth place. Students participted in Football and Volleyball

Students bagged the second place in ‘The Marketing Mania’ competition

an annual management-cultural fest organized by Vivekananda College. Interactive activities related to business and management such as Open Mic, Business Charades, Fashion Show, Battle of Bands, Brandebaaz, and Brand-O – Mania etc. were conducted. IILM ‘Fighting Crusaders’ participated in Football and Volleyball in All India Sports Fest ‘Chakravyuh -2019’ held at IMS Engineering College, Ghaziabad. 'Chakravyuh' was an initiative by the students of IMS Engineering College, Ghaziabad. Over 1700 prominent colleges from all over India had participated across sports events like Football, Cricket, Basketball, Volleyball, Athletics, Badminton and other variety of sports.

Campus News Greater Noida 18th Induction Program An Induction Program was organized at IILM College of Engineering & Technology on the specified directions from AKTU where Bridge Courses for the newly admitted students of B.Tech, MBA and Integrated MBA courses were conducted to introduce students to the new study environment as well as help them to absorb the educational atmosphere. Dr S.K.Saha, Professor Mechanical Engineering Department, IIT Delhi delivered a talk on ‘Robotics and its Competitionbased Education’. Other highlights of the program were the welcome speech by Director, Dr. Jyotsna Singh; Introductory address by Registrar Col. Ashis Mukharjee; Speech by the Chief Guest, Prof (Dr) Karmeshu, JNU Retd; an Interactive session by the Guest of Honor, Dr. Shankar Goenka, Managing Director, WOW Factor.

The team decorated the Vivekananda Hall and surrounding area of College of Engineering with eco-friendly materials. The Laxmi Pooja was followed by a delicious lunch where the faculty interacted with the students. Mrs Malvika Rai, Chairperson, IILM, wished the students and the faculty and Senior Director, Mr Ajay Pratap Singh and Director, Dr Jyotsna Singh too intermingled with the students spreading cheer.

Pre-Diwali celebration spreading good cheer

Welcome speech by Director Dr Jyotsna Singh at 18th Induction Program

An insightful lecture was delivered by Prof Karmeshu on ‘Uncertainty Modelling’. He gave a brief account on topics such as Random Phenomenon of Probability with real life examples meticulously explained. He linked Biology with Mathematics in terms of how in DNA sequencing Mathematics is required. Pre Diwali celebrations The Pre Diwali celebrations came alive at IILM Academy of Higher Learning, Greater Noida when the whole college wore a festive look with diyas, candles, decorative lights and lanterns adorning the reception, hostels and corridors of the College. The Rangoli on the theme ‘Eco-friendly Diwali’ by the Decoration Team added to the festivity.

HACKATHON 1.0 Department of Computer Science and Engineering, IILM, organized a two-day ‘HACKATHON 1.0’ event with the theme ‘Agriculture and Rural Development’. The aim was to harness the creativity and expertise of students to promote a culture of innovation over traditional learning processes to develop competent professionals with strong technical skills. Students were required to code on Android Studio to solve problems prevalent among the farmers in India. The Coding features for online pesticide shopping, crop management, crop planning, accurate weather reporting, etc. were performed

Student felicitation ceremony of Hackathon

by the students. Cleanliness Drive- Aao Swachh Rakhein To sensitise on the issues of cleanliness, sanitation and hygiene, IILM College of Engineering and Technology, Greater Noida organized a Cleanliness Drive ‘Aao Swachh Rakhein’ under the flagship of SAHYOG, the Social Responsibility Club. Student volunteers and faculty members participated in this drive where they removed garbage from the campus and the adjoining areas. This drive supported the ‘Swachch Bharat Campaign’ initiated by the Government of India and marked the 150th birth anniversary of Mahatma Gandhi, a

Students and Faculty on a cleanliness drive

crusader for cleanliness. Blood Donation and Health Check-up Camp Blood donation is one of the biggest contributions a person can make for society. Carrying this thought the ‘Sahyog Club’ IILM CET organized Blood Donation and Health Check-up camp in the campus in association with Rotary Club and Meditest.in. With a steady stream of donors, the camp lasted a whole day. Refreshments such as fruit juice, biscuits, banana and chocolate were given to donors after they donated blood. After collection, the blood samples were carefully sealed and transported and the donors also received certificates of recognition and a credit card through which one unit of blood can be

Blood Donation drive at the campus

availed free by them from the Rotary Blood Bank. Workshop on IPR Innovation is a vital spark needed for igniting human change and progress. With this aim and to impart the vision of IILM, the Innovation Council under MHRD, organized a workshop on ‘Intellectual Property Rights’ by Ms Manisha Rawat, Founder, Patfrigate Solutions Pvt. Ltd. to inspire and motivate the students to innovate. The workshop focused on the importance and scope of IPR in Academic Researches, types of innovations patentable, how to test the patentability of the innovations, procedure of patent writing, patent filing and the process of granting patent. International Conference ELECTROCON-2.0: Emerging Trends in Electronics, IT and Communication With the vision of imparting an academic spirit and build an innovative Indian society, Department of ECE organized an International conference ELECTROCON-2.0 at IILM CET, Greater Noida. This conference aimed to integrate the strategic needs of the society and industry in a synergistic way. The theme of the conference revolved around a broad spectrum of advanced topics related to Electronics, IT and Communication. The conference began with the address of Chief Guest, Dr Ashok Chandra, Former Wireless Advisor to Government of India and Guest of Honor, Dr Daniel Hahn, Co-director, United Smart Energy GE GMBH, Germany. Distinguished Keynote Speakers Prof M.A. Ansari, Professor of Gautam Buddha University, Greater Noida and Mr Satyanarayan Pal, Manager, Ericsson India Pvt Ltd delivered enlightening talks. There were parallel paper presentation sessions chaired by Dr Manju Aggarwal, Professor, G.D. Goenka University and Dr Anjali Garg, Professor, North Cap University, Gurgaon. National Conference - Biogenesis VI Department of Biotechnology organized a National Conference – 'Biogenesis VI: Synergy between Academia and Industry' which was inaugurated by Chief Guest, Dr Md. Aslam Alam, Director, DBT and MD, BIRAC and Keynote Speaker, Dr R S Sharma, Deputy Director & Head, RBMH, ICMR. The technical session speakers were Mr Gaurab Ganguly form Nestle, Dr Praveen Singh from Dabur, Prof K C Bansal of TERI, Prof Jai Gopal Sharma form DTU, Prof Krishna Sundari form JIITU, Dr Vikas Kaushik of LPU, Dr Shanuja Beri of DU, Dr Hemant K Manikyam of Akums, Mr Nitesh Jain of Varun Beverages. 200 students from various institutes attended the conference and participated in Poster and Paper presentations

Campus News Gurugram ‘Do Epic Shit’- Guest Session by Mr Ankur Warikoo Mr Ankur Warikoo, an Internet Entrepreneur, Mentor, and Angel Investor visited the IILM University to motivate the students during the orientation program. With his charismatic attitude, Mr Warikoo easily put all the students at ease and avidly talked about how college was simply an extension of school with a lot more to do. He explained to all how it was okay to not know how to do something as long as we have a goal in mind, because 'getting lost' is a journey which helps navigate life. Mr Warikoo shared his own experience in college and told the students that they needed to keep in mind his signature catchphrase, 'Do Epic Shit' while maneuvering through college life. He reminded us that the three years of college are supposed to be the best years of your life and insisted on the following important points: • Be with people who change your perspective: Everyone does something for a reason. Sit with new people at the lunch table every day that will help acquaint you as well as force you to respect new perspectives. • Entitlement is causing the world angst: “I am awesome” or “The world should bow down to me” are a wrong perspective to have because having been lucky to be born privileged doesn’t command respect, working hard to earn a position does.

peace. It began with a simple narration of Gandhi ji’s life including Gandhiji stealing a gold armlet, confessing to his father, getting thrown off a train that showed how Gandhiji worked his way up to the top with dedication. Students also recited poems commemorating Mahatma Gandhi and Lal Bahadur Shastri. The highlight of the play was the Dandi March with the actors making the March extremely interactive and urging the audience to participate as they

The Dandi March

Students paying tribute to Gandhiji on the eve of Gandhi Jayanti

Mr Ankur Warikoo on campus with IILM Professors

circled the awed spectators in the auditorium. Gandhiji’s death was the final leaf they covered, showcasing the amount of pain the country underwent through Jawaharlal Nehru’s speech announcing Gandhiji’s demise. The play perfectly captured the impact and the legacy left by Mohandas Karamchand Gandhi.

The Legacy of Mahatma Gandhi On October 1, 2019 students of EcoReps Club, as part of a week long celebration of the Life and Works of Mahatma Gandhi, organized a play following Gandhiji’s life from when he was a child to when he became the global symbol of

Facebook’s Augmented Reality Tool - Spark AR Studio addressing This workshop was driven by two key note speakers, Mr David A. Cohen, APAC Developer marketing lead at Facebook and Mr Ojasvi Bhatia, Strategic Partner Manager (Product) at Facebook.

They gave students an exposure to their new software Spark AR Studio, mainly used for creating ‘Ones very Own’ Augmented Reality Experience. This software has revolutionized photography, interacting with live digital cartoons, word phrases and the environment giving a holistic experience to a social medial user. This has certainly changed the whole ritual of ‘moment recording’ on social media. This software has also been found to change the whole ‘Interior Designing’ and

and sell at a competitive price. The various stalls included products from Fashion Design, Fine Arts and Product Design. The products were all either developed or outsourced and customized by the students themselves and the product range included wax candles, cloth, bags, denim jackets, wall art, pottery and terracotta, candle stands made from wood, bamboo and even recycled Plastic and many more. A lot of emphasis was given to create products which were durable and also to use recycled raw material to reduce waste. The experience helped students to look at the business aspect of a product. This yearly fest is one of the most awaited events at IILM. The excitement of this fest was extraordinary, from organizing the Diwali Mela to decorations of the stalls, students were guided and their talents were engraved deeper to motivate them even further.

Mr David speaking about Augmented Reality Tool Spark AR Studio

‘Marketing’ professions by 360° This software is a boon to Marketing Professionals as this can be used for creating eye catching and user friendlyinteractive product promotion experience for the customer. With this software’s application in real life various problems can be solved and many solutions can be glorified with innovation. This workshop has surly sparked some innovation and creativity in the minds of the students. Diwali Mela IILM School of Design and Fashion gave an opportunity to students to brainstorm ideas, develop them and present and sell them at the Diwali Mela at IILM University. Students took this opportunity to work as a team to Design and Market their ideas. Students from various fields of design came together as a team to brainstorm, research and develop the products to display

School of Design exhibiting their creative skills

Students displaying products at the Diwali Mela

Workshop on Artificial Intelligence and Machine Learning in Industry 4.0 to 5.0 Mr Vishal Jain, CEO and Mr Sunny Pathak, COO of Samatrix Consulting Private Limited were invited on campus for conducting a workshop on Artificial Intelligence and Machine Learning in Industry 4.0 to 5.0. Mr Jain is an alumnus of IIT Kharagpur and IIM Ahmedabad with 20 Years of Industry experience with leading companies such as Tata Steel and Intel proficient in Data Analytics, Machine Learning, Deep Learning and Blockchain. Mr Pathak is a former Business Consultant & Visualization proficient and has worked extensively in domains such as Research Scientist, Sales Analyst and Forecasting, Market Research, Brand positioning, Data strategies, Consumer behavior Analytics and Pricing. The workshop was conducted via video lectures and simulated software, students found beneficial knowledge about the industry 4.0 to 5.0, how technology is changing our lives, application of Artificial intelligence and Machine learning in industries, computer and human understanding algorithms and an overview of data analytics and data visualization.

Alumni Profiles

Anirudh Yadav IILM batch 2007-09 HR Manager, India, Hilton Hotels

Prashant Kala IILM batch 2008-10

Country Head, Shop Back, Philippines

Work Experience 10 years in HR Important Learnings in Professional Life: Being in the HR domain for the past 10 years, I have learnt some of the most important leadership styles. With my own experience and professional journey, I have learnt how leaders act and behave in an organization, how to effectively lead a team, how to engage a team, tactical strategy building techniques, organizational behaviour and how to align your team with the organizational culture. Favourite Memory at IILM: I used to hate Economics and I still remember how my faculty taught me the subject and made it so simple to learn. Her methodology of teaching changed my perspective towards the subject. Since then, Economics became one of my favourite subjects! The faculty at IILM can never be forgotten. Message for the Students: This is your final stage of education and you will be stepping into a new world – the corporate world. This is your crucial time which will decide your long term journey. Give your 100% because you will not get a second chance. Make your presence felt by doing things that make a difference. Focus more on attending classes because the knowledge you get from classes, you will never get anywhere else. This is participative learning so make the most of it. It will broaden your thought process. Be active in extracurricular activities because this will make life fun and enjoyable. Make friends who will be your support system in life. Work Experience • 2 Years in IILM as Assistant Marketing Manager • 2 Years in Zomato India as Head of Sales for Delhi • 5 Years in Zomato Philippines as sales head for Philippines and later Vice President for Zomato Philippines • 8 Months as Country Manager in Shop Back Philippines Important Learnings in Professional Life Problem solving skill is the most marketable skill for individuals. If you know how to overcome roadblocks effectively then you can achieve your goals. Favourite Memory at IILM I will never forget the iFest that we organised in 2009 & 2010. I think that’s one time when the whole IILM comes together and actually works as a startup or a corporate. I would really advise students to work on it because you will realise how to work with a team and how minor things can become bigger issues. I learned few problems solving tricks early in life during iFest. Other Interests I love travelling and usually spend most of my weekends travelling in or out of the Philippines Message for the Students Don’t take things too seriously. Take risks and don’t be afraid to be wrong sometimes but if you are wrong, be ready to take feedback, learn from it and don’t repeat it. Travel as much as you can and look for new experiences because they teach you the most life.

The Edge

Articles inside

Alumni Profiles

Campus News

Myth of the Great Indian Middle Class

Blockchain: The Newest Superpower

Book Review

Data as Driver for Decisions - For the Business and for the Managers

Financial Assets: Equity culture and small savings rates in India

Social Marketing - Soch Badalna, Samaj Badalna

Industry Visits: Bridging the gap between theoretical and practical Learning

Faculty Development Programs

IILM Convocation for Bachelors of Business Administration (Entrepreneurship

Industry Interface at IILM University

Faculty Development Program by IILM Gurugram

IILM University Organizes Conference on ‘Industry 4.0 and the future of Work

IILM’s 12th Distinguished Global Thinker Award

Special lecture by Prof Jagdish Sheth on 'Why Sustainability Matters

Ambassador Deepak Vohra's Lecture on Kashmir: The Journey Resumes