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,
28
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
