The Edge by IILM Institute for Higher Education

Edge

Editorial

The

IILM’s commitment to Entrepreneurship and Start Ups

Editorial Board Mrs. Malvika Rai Prof. Rakesh Chaudhry Dr. Sujata Shahi (Sr. Director, Gurgaon) Dr. Taruna Gautum (Director, Greater Noida)

Dr. Smitha Girija (Director, Lodi Road) Dr. Bhavleen Rekhi

Entrepreneurship affects economic growth in numerous significant ways. It is through entrepreneurship that innovations come to the market, leading to new products, processes, and economic growth. However, entrepreneurship, and starting new ventures is a challenging task with many uncertainties and hardships. New entrepreneurs and startup companies lack resources, experience and networks. Taking a cue from our Prime Minister’s support to new Start Ups, IILM has made a strong push to help new entrepreneurs and Start Ups by setting up an Incubation Center iLab at IILM Gurgaon campus. Highly successful and renowned entrepreneur Mr Naveen Jain was honoured by IILM with 9th Distinguished Global thinker Award in February 2016. This issue of The Edge shares the wisdom and experiences of Mr Naveen Jain.

9th Distinguished Global Thinker Award conferred on Mr. Naveen Jain

Celebrating 20 years of undergraduate education at IILM

Responsible Management Education@IILM

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IILM celebrates 20 years of world class undergraduate programmes IILM has been among the very few Institutions of Higher Education in India to offer world class international education to Indian students as early as mid nineties. This year IILM celebrates 20 years of international undergraduate programmes in management to Indian students. These programmes are offered in collaboration with leading UK and Swiss Institutions of Higher Education. IILM undergraduate programmes in management offer students numerous options for international experiences through IILM global programs. IILM undergraduate programme is rooted in a rich heritage, and helps students grow academically, personally and professionally

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

Contents

IILM is a pioneer in embedding UN Principles for Responsible Management Education (PRME). These seek to establish a process of continuous improvement among institutions of management education in order to develop a new generation of business leaders capable of managing the complex challenges faced by business and society in the 21st century. IILM First International Conference on Responsible Management, organized in January 2014, and IILM 2nd International Conference on Responsible Management in January 2015, set key milestones in the journey of IILM. The 3rd Conference in 2016 focused on Sustainable Development Goals of the United Nations. This issue of The Edge also features a number of articles on new trends and management thinking, along with the other regular features. Enjoyable reading.

IILM Third International PRME Conference on United Nations Sustainable Development Goals.

New Trends in Corporate Governance and Financial Regulations in India

IILM Ranked Number 11 by EdUniversal in its 2015 Rankings of the best Indian business schools

Women in Power: Changing the Business Landscape

Best Employers Practice Sharing: Driving Performance Excellence

eWallets in India: A Technical Perspective

Neuromarketing: Understanding the Consumer Pleasure Points for Success

34 36 40 46 47 54

Design Thinking for Strategic Innovation

International Faculty at IILM

Banyan Tree School, Chandigarh

Alumni Profiles

Campus news

International Updates

people think that we are crazy. Let me tell you something. Until you tell someone what you are doing and they don’t think that you are crazy that means that you are not dreaming big. So dream big. Because if you dream big and even if you fail you have gone out and made a mark on the society for someone else to follow your footsteps. The second thing that stops us and each individual of the society from moving forward is the fear of failure. What if we can take away the fear of failure from people and give them power to dream. Is there anything that is not possible? How does the fear of failure come in?

9th Distinguished Global Thinker Award conferred on Mr. Naveen Jain

he 9th IILM Distinguished Global Thinker Award was conferred on Naveen Jain, an exceptionally successful entrepreneur and philanthropist, today in New Delhi. The Award was presented to Mr. Jain by Mrs. Malvika Rai, Chairperson, IILM. Mr. Naveen Jain continued his entrepreneurial success as a founder of Intelius, Inome, Talent Wise, Moon Express and World Innovation Inc. His most recent entrepreneurial venture is working with scientists at US national labs and NASA to identify radical technological breakthroughs to improve the lives of billions around the world. Mr. Jain serves on several boards related to science, technology and education. He is the chairman of the X Prize Foundation and on the board of directors for Singularity University. While accepting the award, Mr. Jain expressed his gratitude and thanked IILM for conferring this award. He spoke on the disruptive innovation and fast paced changes in the industry.

Because we believe if we do something and it doesn’t work somehow we have failed. I can tell you as an individual or as an entrepreneur we never ever fail. The idea that we try, may or may not work but the idea becomes a stepping stone to a bigger initiative. You simply adapt, you never fail. The only time you fail in life is the day you give up.

He emphasized that an entrepreneur need not be afraid of failures as failed ideas leave a trail for future innovations. He called upon students to think at least a decade ahead. On the pace of change in technology, he averred that an innovation today becomes obsolete in a short span of time. He emphasized, “Entrepreneur never fails; only ideas fail.

“Your age does not define your maturity, and your wealth does not define your success. Do not focus on net worth but on self-worth.”

Mr. Naveen Jain said I am absolutely honored and humbled to be in the great company of IILM audience. I honestly don’t believe that I deserve this. But I am humbled and honored. Thank you so much. In terms of sorting the problem we actually are living in the most innovative decade of human history. This is the time in human history where so many technologies are transforming together that will allow each one of us to do things that have never been possible before.

Mr. Naveen Jain, Mrs. Malvika Rai and Dr. Smitha Girija lighting the lamp

Imagine what each one of us can do today that used to be the domain of the king, the queen and the super powers. Landing on the moon that is only done by 3 great super powers – Russia, US and barely by China because they landed and crashed on landing. But image of a poor boy who

grew up in the villages of UP, where we have no food to eat went to US with 5 dollars in his pocket with nothing but a dream is able to dream so big that people think that he is capable of landing on the moon and becoming the fourth super power. There is nothing that is impossible that we can’t achieve. What stops us from doing things is a very simple thing. We have lost the power to dream. We cannot dream big because when we dream big

Today the amount of research that is happening every single day, is more than any human mind can ever read. To me there is no better way to defining what success is; never going to be about how much money you have. It is going to be about how many lives have you touched. And I can tell you if you want to create a billion dollar company it is really easy to do. All you have to do is solve a 10 billion dollar problem. It is that simple. You go out and find a problem that is really a big problem. What are the biggest problems? Every societal problem, every grand challenge

Mr. Naveen Jain addressing the questions of the audience

that you may face from lack of education, lack of affordability of health care, lack of fresh water, lack of energy. All these things are possible today for an individual to do. Our planet, the planet Earth is being fetched solar energy 10 times more every single day that we consume in the whole year. So why can’t we harness the power of solar energy. What if we are able to use the helium 3 that we bring back from the moon and the other planetary bodies are able to create fusion energy. A small quantity of helium 3 can provide power to this planet for generations to come. The only way you can create a sustainable society is to create abundance of everything. Create more of what you need and u s e less of

what you have. What if you have abundance of energy? Would you be able to use that to create fresh water simply by disseminating so once you have abundance of fresh water, you have abundance of energy and you have abundance of health and you have abundance of education? The thing that you care about is everything to do what you should be doing today because that would allow you to get everything that you want. I can even tell you that the most disruptive ideas come from the people who don’t know anything about the industry. In fact when you go to an expert they are very good at giving you something about what exists today. Every disruptive idea actually comes from non-expert. When I started moon e x -

press, my first reaction was how are we going to moon when it is moving all the time? Then someone told me it doesn’t move, it has an orbit and then I said “No, no, spare me the details. You know what to do, right? Now go make it happen.” My job was to sit with the challenges with everything that they were doing. They only need one rocket to go to the moon. I said “No, you don’t need a big rocket because this is a marginal problem. The earth has a tremendous amount of gravity. There is no gravity between the orbit of moon and earth. And the moon has 1/6th the gravity. I don’t think you need a big rocket. You need 3-4 small rockets.” And know you what they first told me. “You are not a rocket scientist; you don’t know anything about it.” And after half an hour of arguing with me they said “It’s a great idea.” That is how great ideas come when someone knows about your subject and they keep pushing you why can’t you do the simplest of the things to make something so disruptive. My next company was health care. You know how much I knew about health care. Anyone can guess? Zero. And this is how I am going to do things that nobody has ever thought about. Today, you are able to detect that anything you want. In fact now we have tools at our disposal that we as

Mr. Naveen Jain interacting with Mr. Anil Rai, Mrs. Malvika Rai and Ms. Anjali Rai

could do the same thing in technology. So people tell us India will never change, we can’t even have the roads that you can drive the cars on. How are you going to have the E-commerce that can even work in India? You can never deliver it. And that is again the mind set of scarcity that you need roads to deliver something. You only know infrastructure and next thing you know that we are going to build the whole infrastructure in the sky using drones to deliver the goods. Mr. Naveen Jain sharing his enlightening thoughts

individuals will be able to modify our own genes. We will be able to go out, in fact change the genes or develop a drug that only impact one specific person. So imagine if you build a drug that only attaches to the DNA or a specific gene that is only present in North Korea and you can distribute it to the whole world. The only person who is going to get killed that will be in North Korea.

And I can go on and on as the same thing has started to happen with grating technology and stem cells. We bend them in

“As an entrepreneur you will never fail until you give up. Entrepreneurship is a pivot and you keep pivoting until you succeed. Think so big that when you tell tell somebody this is what you want to do - they do not understand and say ‘you must be crazy’. “ Think about what India did? We didn’t have a wireless telephone when the telephone revolution came, we bypassed the world and completely we went to wireless. In fact, in some part of the country a wireless system is better than the system with wire. And that is actually what is happening. Now imagine, we

US. So what happened if all of the research on the stem cells moved to China? So all the things that are happening we have an opportunity to be able to do all the health care diagnosis and do all that in India and build these devices that can diagnose all the diseases and if we can develop them in India, test them in India, we can export them to US. What we need to do is to completely bypass the obsolete education system, reinvent the education system right here in India. Why would you need an education system where the students who learned very differently have to adapt to a teacher who is standing and giving you the lecture? What if the teacher could be one-on-one to adapt how you learn? What if it is supposed to be time based

and valuable learning and you have 6 months to get A, B, C or D? It is time based valuable learning and then you move on to the next subject. What if it changes to variable time fixed learning, just like a video game? It doesn’t matter you have to get an equivalent of A, whether it is one day, one month or one year. Imagine in a video game what happens? It doesn’t matter how long it takes until you pass 1st level, you don’t go to level 2. If people are good then you can go to level 14. But you have to get a fixed learning. What if you are able to design the education system for the next century by building a system that is adaptive, that is gaining, that is collaborative, and that focuses on proper learning and skills. Skill based learning is completely obsolete because the

problems are not in a disciplinary mode, problems require inter-disciplinary approach. In fact, most problems in the real world require collaboration of multiple m i n d s for different disciplines coming together. What happens in a class of 5 students, they start working together and come up with an answer, what the teacher calls that “cheating”. And in the real world, we will give them an award, you are a team player.

about feeling and getting satisfaction of helping others and giving back. And the moment you start to do that you will start to feel the true happiness derived from it.”

Incubation and Start up at IILM It is a fact universally acknowledged that entrepreneurship affects economic growth in numerous significant ways. It is through entrepreneurship that important innovations come to the market, leading to new products or processes, and economic growth. However, entrepreneurship, the practice of starting a new business is a challenging task and entrepreneurs face many uncertainties.

Since startup companies lack many resources, experience and networks, incubators provide services which helps them get through initial hurdles in starting up a business. These hurdles include space, funding, legal, accounting, computer services and other areas to help new business get on a firm footing. To assist new entrepreneurs and start ups, IILM has taken a strategic commitment help new entrepreneurs in their initial years. To put its strategy in action, IILM has set up an Incubation center at IILM Gurgaon campus.

basics, Networking , Marketing assistance, High-speed Internet access, Help with accounting and financial management, Help with presentation skills, Links to strategic partners, Access to angel investors or venture capital, Comprehensive business training programs, Advisory boards and mentors, Management team identification, Help with regulatory compliance and Intellectual property management

ILM Incubation center is structured to provide support in various areas like Help with business

So my point is, we all have tremendous opportunity in India when everything we feel is broken here, because we are constantly trying to import the broken obsolete style of the western countries to India. Those are the bureaucratic organizations and nothing good is going to come out of it. We are the great entrepreneurs. The fact that you are able to live with 1.3 billion people here every single day. You know what it is to compete, you know what it is to succeed in business, and we are entrepreneur by genetic evolution. And my last thing is really that idea of just not about raw and being successful. It’s really

Mr. Naveen Jain with Mr. Anil Rai and Mrs. Malvika Rai

Celebrating 20 years of undergraduate education at IILM Gold, Silver and Bronze medals to the meritorious students. 117 students were conferred degrees in this ceremony. Professor speech:

Robert

Parkin’s

I am extremely proud to be part of this ceremony. University of Bradford takes students from many different backgrounds. Just like you, they come from different parts of the world, different societies, religions, world kinds of interest and world kinds of previous experiences.

ILM has been a pioneer in offering international undergraduate education programs in India. IILM started with offering University of Bradford B.Sc. (Hons) degree in business and management as early as 1996, and is celebrating 20 years of undergraduate education this year.

options for international experiences through IILM global programs. The undergraduate degree from IILM (approved by Delhi University) is a qualification that the world recognizes and it’s much more than that.

Undergraduate life at IILM is made up of a unique combination of experiences that stem from the vast learning opportunities inside and outside the classroom, the culture and excitement of Delhi and Gurgaon City, and numerous

University of Bradford 17th Convocation at IILM

IILM Undergraduate Business School New Delhi had their Seventeenth Graduation Ceremony for the graduating

students of BSc. (Honours) in Business & Management Studies in collaboration with School of Management, University of Bradford at the IILM Lodhi Road campus on 17th November 2015. Professor Robert Parkin, ProVice Chancellor, University of Bradford, UK, presided over the Ceremony and awarded Degrees to the graduating students. Mrs. Malvika Rai, Chairperson, IILM presented Dr. Kulwant Rai

You learn the formal teaching programs; you also learn through the informal contact with others. Be better prepared to develop your own lives, better prepare to help others and better prepare to achieve good things in society.

Receiving a University of Bradford degree is a great achievement and it is much more than just a qualification. We want all our graduates to have an edge while contesting in the job market. I have heard interesting things people come across and say today like some are going for higher studies; some of them are going to start their own business; others are planning to join their family business while others are looking out for jobs. S o

that’s fantastic! The University’s first Chancellor, then Prime Minister, Harold Wilson told the graduating students: “You can be confident to your University without thinking of the future, to selfdynamism as it was in the last 25 years. Educating men and women, to receive education and training, role-on to the needs of the changing society.”

You can achieve anything that you want. And that’s important! Let’s improve, you can achieve anything thing that you want. Don’t under-value yourself; don’t underestimate your abilities to make things happen. Just make sure, you go through it. Remember you only get one chance. Prof. Robert Parkin addressing the students

This resource continues to this time, as we celebrate our successes of last 50 years and look forward to the next 50 years and beyond to grow out as one of the world’s largest graduating universities and grow our strong foundation of Innovation and excellence. Over our successes, our tribute goes to the hard work and dedication of our faculty, staff, students, friends, colleagues, partners, supporters and alumni, throughout the world.

You should be proud to be contributing to be a part of such a bright success. Today you all are graduating and you all have learnt many things, and at University of Brandford you need to build your career, exciting future, and most important your link with the university does not end here today, you will be now remembered as the university alumni. There are almost 120 thousand graduates who have studied in 170 different countries

and therefore they have majorly contributed and continue to contribute and make changes in the society and we are very proud of our alumni.

L&T group which includes care housing, construction, etc. An internationally recognised phone maker who uses his camera which benefits women worldwide.

Many tremendous and talented people have represented a powerful post for good. We have an extensive list which shows on force for example now includes Alan Kyer - the Chief Executive of HSBC bank, Marliyn Abraham - a Communication Entrepreneur and a billionaire, Louis chairmen - Founder of

Today as you join this impressive list, I hope and trust and wish you success in the near future. You will always be remembered in Bradford family. I believe in the freedom of speech and respect towards an individual. And perhaps most importantly support education, research, and pursuit to wisdom and

The proud graduates capturing memories.

understanding, you will always be remembered in the team records. Please stay in touch and keep us posted with your progress and I will definitely come back to see you in the years to come. This is your time, and also support your parents, friends and relatives. Make sure you thank them for all that they have given you. This is a special day for them too. So many congratulation and best wish’s your future everybody! IILM Meritorious students receiving the award from Mrs. Malvika Rai

Business School also offers BBA in Entrepreneurship in collaboration with Swiss Business School, Zurich, Switzerland. This program has received Delhi University Equivalence for Bachelor’s degree. In keeping with the requirements of the everglobalizing environment, IILM mandates the 3- 4 week global study at one of our partner universities in Germany, Spain or Canada after the student completes the first year. The program includes modules on Entrepreneurship and Family business, visit to different

Undergraduate

Vidhi Goyal - winner of Dr. Kulwant Rai Silver Medal with her proud parents

industries and cultural excursions which are aimed at providing an exposure to a global business environment. IILM puts lot of focus on experiential learning. The study of a foreign language enables students to gain an understanding of a foreign country and culture, and broaden their outlook. IILMâ&#x20AC;&#x2122;s Start up Lab ensures that during these 3 years, your child is exposed to all aspects of Entrepreneurship and is connected to a community

network which would help him/her to convert his entrepreneurial dreams into reality. In pursuit of this goal, the Start up Lab organizes numerous workshops and excursions over the 3 years that gives your child an all-round exposure needed to become a successful entrepreneur starting from understanding the Entrepreneurial Mindset to making a Business Model; understanding what it involves to sail through the first 100 days of a startup; how to garner

funding for a company; how can they diversify their own family business and so on. The BBA Entrepreneurship program at IILM aims at inspiring students to be innovative in their thoughts and actions, to grow their family businesses and to grow as entrepreneurs themselves.

Prof. Robert Parkin with Mr. Anil Rai and Mrs. Malvika Rai

The graduates with their faculty members

IILM Third International PRME Conference on United Nations Sustainable Development Goals.

Session One: Inclusive Equitable Education and Lifelong Learning; Gender Equality and Women Empowerment, inspired from SDGs 4 and 5.

(7th - 9th Jan, 2016)

ILM institute for Higher Education, in collaboration with UN Global Compact’s PRME (Principles for Responsible Management Education) Initiative organised its Third International Conference on “Responsible Management Education Training and Practice”, from 7th to 9th January, 2016 at IILM Lodhi Road, New Delhi. The conference was inaugurated by the EU Ambassador to India, His Excellency, Mr. Tomasz Kozlowski. In his welcome address, Prof. Rakesh Chaudhary, Senior Director, IILM highlighted the active role IILM plays in executive education. He also shared the various Global Study Programs IILM provides to its students. He referred to a great quote by Nelson Mandela in his speech – “Education is the most powerful weapon for changing the world”. He further highlighted the key focus of the conference, which is to create awareness of United Nation’s Sustainable Development Goals (SDGs) among companies, policy makers, NGOs, and to initiate activities for focus on SDGs related issues in business

schools courses and research. In his keynote address, His Excellency, Mr. Tomasz Kozlowski, highlighted the importance of Agenda 2030 and how SDGs are important for the international community, a new paradigm for a development blueprint that is sustainable, integration of poverty. He also discussed SDGs implementation and interlinkages with other global commitments in the complex world. He also discussed the evolving role the EU sees for civil society and in particular for the private sector, The Global Partnership and the business case for SDGs. In the Opening Plenary session, Ms. Florencia Librizzi, UN Global Compact, New York; Dr. Bhaskar Chatterjee, DG & CEO, Indian Institute of Corporate Affairs, Ministry of Corporate Affairs, Government of India and Mr. Nitin Seth, Managing Director, Fidelity Worldwide Investments shared their initiatives and the challenges faced in implementation of SDGs. Ms. Florencia Librizzi highlighted the importance

of B Schools to partner with organisations for development purpose while keeping environment in mind. She highlighted how the goals of management education could be linked to the SDGs. Mr. Bhaskar Chatterjee stressed the need to adopt a very different approach to achieve the 17 SDGs and encouraged students that a lot rests on their shoulders for bringing the change. Mr. Nitin Seth shared various perspectives around developing sustainable cities. He highlighted the “Odd-Even” driving rule recently enforced in Delhi as a small step towards environmental protection. The three days’ conference agenda covered sessions on Equitable Education and Lifelong Learning, Gender Equality, Empowering Women and Girls, Skills Development for Employment & Sustainable Economic Growth, Sustainable Consumption and Production Patterns Actions to Combat Climate Change and its Impacts, and Build Effective, Accountable Institutions at All Levels.

The inaugural session of the IILM Third International PRME Conference

The eminent speakers in this session included Mr. Raj Nehru, Director, Concentrix India Pvt. Limited; Ms. Anju Sabharwal, VP Human resources, Vodafone Limited; Mr. Sharad Singh, Country Manager (Enterprise), Hewlett Packard, India ; Mrs. Abha Sahgal, Principal, Sanskriti School, New Delhi and Ms. Silje Dietlefsen, University of Geneva, Switzerland. The session was moderated by Prof. Vidhisha Vyas, Professor, IILM. Mr. Raj Nehru addressed the issue about lack of adequate training provided to the teachers due to which handling of children with special needs

is not proper and there is lack of sensitivity towards them. Mrs. Abha Sahgal gave a very positive speech in which she said that the mindset of people are changing and future certainly ensures equality for both genders not only in affluent families but in rural India as well. She said that schools are a clear reflection of the society and the fact that discriminations are depleting in the schools signifies a great positive hope. Mrs. Anju Sabharwal highlighted the demographics of women in the developing countries and highlighted the importance of role of media in promoting gender equality. Mr.

Sharad Singh highlighted how integrated programs like Digital India will bring the results will have been aspiring for. Ms Silje Dietlefsen shared her case study on Driving Change: One factory at a time? It was based on female factory workers in garment factories in Asia and the issues related therewith. Coming to a successful end, the first day of the conference saw very enthusiastic participation from the delegates, faculty members and students who raised pertinent and interesting questions to the panellists and shared their views on various contemporary issues.

DAY 2 Session two:

Skills Development for Employment & Sustainable Economic Growth and Ensure Healthy Lives and Promote Well-being for all, inspired from SDGs 8 and 3. The eminent speakers of the session included Prof. S. Padam, former Dean, Administrative Staff College of India, Hyderabad; Mr. Alessio Devito and Mr. Stephane Formenti, University of Geneva, Switzerland; Mr. Mariusz Soltanifar, Hanze University of Applied Sciences, Groningen, The Netherlands, and Dr. G. Jawahar, Head, HR, Power

Finance Corporation Limited. The session was coordinated by Professor Sanjay Srivastava, IILM. Prof. S. Padam stressed that technical thinking is needed to bring the kind of change we are looking for. Mr. Mariusz Soltanifar spoke about some important issues that the world is facing like refugee

crisis, natural calamities, and how these issues should be addressed. The session also focused on ensuring healthy lives and promoting well-being for all. Mr. Alessio Devito and Mr. Stephane Formenti presented their case study Grow Africa, focused on managing change across boundaries.

Session Three:

Ensure Access to Affordable, Reliable, Sustainable and Modern Energy for All, and Ensure Sustainable Consumption and Production Patterns, inspired from SDGs 7 and 12. The session included renowned speakers – Mr. Sutanu Behuria, former Secretary, Heavy Industries, Government of India; Mr. Santanu Roy, General Manager (Corporate Planning), Gas Authority of India Limited and Mr. Ashutosh Sinha, News Editor and Anchor, NDTV Profit. It was moderated by Prof.

R. Srinivasan, Professor, IILM. The session focused on the issues of affordable, reliable, sustainable and modern energy for all. Mr. Sutanu Behuria highlighted three different areas of problems that can be identified - equity, implementability and ethics.

Mr. Santanu Roy pointed out that energy is the golden thread and the energy mix of India does not hold a very good picture. Mr. Ashutosh Sinha said that thinking “small” is the need of the hour for attaining sustainability.

Ms. Florencia Librizzi, UN Global Compact, New York giving her talk at the conference.

Session Four:

Ensure Availability and Sustainable Management of Water and Sanitation for All, and Take Urgent Action to Combat Climate Change And Its Impacts, inspired from SDGs 6 and 13. The eminent speakers of the session included Mr. Sameer Pathak, Coca Cola India Inc.; Ms. Florencia Librizzi, UN Global Compact, New York; Ms. Rubin Sen, GRI, South Asia and Mr. Prashant Pastore, Senior Manager, Solidaridad South and South East Asia. It was moderated by Prof. Rahul Mishra, Professor, IILM.

The session focused on very pertinent issues of ensuring availability and sustainable management of water and sanitation for all as well as steps needed to combat climatic changes and its impacts. Ms. Rubina Sen expressed that accountability is increasing beyond former boundaries thereby making sustainability more important than ever

before. Mr. Prashant Pastore explained how big is the mismatch between the existing supply and projected demand of water by 2030 and that some immediate action is needed in the regard. The students brought up very interesting questions to the panelists and the session concluded with active discussions.

Session Five:

Make Cities Inclusive, Safe, Resilient and Sustainable, inspired from SDG 11.

His Excellency, Mr. Tomasz Kozlowski-EU Ambassador to India at IILM Third Internation Conference on Responsible Management Education

Dr. Bhaskar Chatterjee, DG & CEO, Indian Institute of Corporate Affairs at the conference.

The eminent speakers of the session included Mr. Vikas Marwah, CMO, Sona Steering Limited; Ms. Shabnam Siddiqui, Director, Anticorruption Centre of Excellence, Global Compact Network India; Mr. Amit Sinha Roy, Vice President - Marketing & Strategy, Tata Communications Limited and

Dr. Michael Schmitt, Professor of Finance, International School of Management, Frankfurt. It was co-ordinated by Dr. Preethi Srinivas, Dean, PGDM, IILM. The session focussed on how to make cities and human settlements inclusive, safe, resilient and sustainable. Mr.

Amit Sinha Roy discussed the concept of Smart Cities which is a relatively new term in countries like India. The session saw interesting discussions on the smart city ecosystem and role of ICT and stressed that connectivity and integration is the critical element needed for development of smart cities.

DAY 3 Session Six:

Promote inclusive Societies and Provide Access to Justice for All, and Build Effective, Accountable Institutions At All Levels, inspired from SDG 16.

enough to take CSR initiatives. He concluded his erudite address by stressing that social responsibility is everyone’s responsibility. Mr. Ravi Bhatnagar highlighted the critical role of companies in successful implementation of UN SDGs. He shared details of projects initiated by Reckitt Benckiser Limited in the area of health and sanitation. Prof. Rakesh Chaudhary presented Summary of IILMIICA Survey of Responsible Business Practices among large companies in India2015. During the last IILM International Conference on Responsible Management Education Training and Practice, it was decided that IILM, with support of Indian

Institute of Corporate Affairs (IICA) would conduct a survey on prevalence of responsible business practices among large Indian companies. The objective of the survey was to assess and understand the extent to which the government intent has been translated into practice by large companies in India. Professor Chaudhary shared the study’s key findings with the audience. Ms. Florencia Librizzi congratulated IILM team for making this conference a great success. She stressed that we have to acknowledge the role of private sector and academia in implementing sustainable development. She concluded her address by motivating the students that the biggest responsibility rests with them, as they will be taking

over as managers of various organisations in the coming years. Their sensitisation towards responsible and sustainable growth is of outmost importance. Finally, Dr. Smitha Girija, Director, IILM shared highlights of all the sessions with the audience and thanked all the delegates, speakers, faculty members and students for making this conference a great success. IILM Fourth International Conference “Responsible Management Education, Training and Practice” will be organised from 8th to 10th February 2017 at IILM Lodhi Road, New Delhi.

Foreign Delegates at the IILM International Conference.

The session was moderated by Prof. Rajkishan Nair, Professor, IILM. The eminent speakers included Dr. Vasanthi Srinivasan, Indian Institute of Management, Bangalore; Mr. Sandeep Tyagi, Director HR, Samsung Electronics; Ms. Florencia Librizzi, UN Global Compact, New York and Dr. Jagdeep Chhokar, Professor (Retd.), IIM, Ahmadabad. Dr. Vasanthi Srinivasan highlighted India as having a composite culture in which all cultures have evolved over a long period of time and have deep rooted heritage. Addressing India as a pluralistic society, she

raised various pertinent points like what is the identity of a girl child in India, what is the career identity of women in India and how it can be improved. Dr. Jagdeep Chhokar stressed that PRME objectives should not focus just on making businesses and corporates sustainable; rather it should focus on making society sustainable. He also expressed that economic sustainability and political sustainability are equally important for businesses to flourish. The Closing Plenary was addressed by Dr. S.Y. Quaraishi,

former Chief Election Commissioner, India; Ms. Florencia Librizzi, UN Global Compact, New York ; Prof Rakesh Chaudhary, IILM and Mr. Ravi Bhatnagar, Head External Affairs, RB (Reckitt Benckiser) Limited. In his address, Dr. Quaraishi shared some critical and eye opening statistics pertaining to Indian reality. He highlighted issues of poverty, gender inequality, female foeticide, health and sanitation. He also stressed that economic role of women is not yet recognised in India. Further, he raised a point if businesses are equipped

Mr. Nitin Seth, Managing Director, Fidelity Worldwide Investments sharing their initiatives.

IILM Ranked Number 11 by EdUniversal in its 2015 Rankings of the best Indian business schools (3 Palmes of Excellence category)

ased in Paris, EdUniversal is a global ranking and rating agency specializing in higher education. Founded in 1994, EdUniversal has established strong expertise in evaluating academic institutions internationally. The Eduniversal ranking agency establishes an official selection of the best 1000 Business Schools in more than 150 countries in the world. The official selection is the result of the work of an International Scientific Committee brought together at the initiative of the Eduniversal Company. This committee has established a global mapping system meeting the criteria of universality and the international reputation of each academic institution. The selection is classified in terms of Palms and Ratings, based on the Deansâ&#x20AC;&#x2122; votes.

RANKING BY DEANS VOTE The Deans Vote is the key element which determines the rank of a school within each Palme league. All schools included in the Official Selection are reviewed by their academic peers. Each Dean or Director (only one vote per institution) assesses the schools in each country. Deans have an opportunity to submit a vote for schools in each of the geographical zones with which

they are familiar. These votes are treated with utmost confidentiality. The ranking of the top 1000 business schools changes annually according to the results of the Deans Vote. This vote determines the recommendation score and ranking order of schools within each country and in each Palme league. These rankings are designed to provide information to prospective graduate students that will help them in their search for their future studies.

EdUniversal mission is: To provide the tools and expertise to enable individuals, regardless of nationality, income level or background, to be able to navigate the best global educational opportunities and to make the right personal choices, from selecting an academic institution to choosing a career. The annual rankings shared during the Eduniversal World Convention and published on www.eduniversal-ranking.com EdUniversal Business schools ranking for India (Palmes 5, 4 and 3)for the year 2015 is listed on the facing page.

point of view, and one that echoes industry sentiments, especially of those companies that are new entrants to the CSR threshold.

New Trends in

The second technical session was on C o r p o r a t e Governance. It was coordinated by Prof. Raju Majumdar, IILM, Greater Noida.

Corporate Governance and Financial Regulations in India

Ms. Arti Mittal, Accenture, an alumnus of IILM, felt that the financial frauds like Enron, WorldCom have paralysed the investors’ sentiments; and instigated the requirement of greater transparency in the system, which paved that way for the Sarbanes Oxley Act and similar such enactments worldwide. She emphasised that Corporate Governance is not about corporate excellence, but about protecting investors’ interest.

.N. Tata famously said, “In a free enterprise, the community is just another stakeholder, but is in fact the very purpose of existence.” The current trend in Corporate Governance guidelines started in the mid1990s in the UK, USA and Canada. The Companies Act, 2013 raised the bar significantly. New concepts on women and independent directors, corporate social responsibility, internal financial controls, and risk management were added. Through this conference, the challenges faced in the implementation of the new enactment were discussed. The dignitaries represented organisations like Indian Institute of Corporate Affairs, UNESCO, PwC, Ernst & Young, Yes Bank, ICICI Securities, HelpAge India, etc. Prof. Rakesh Chaudhary, Senior Director, IILM welcomed the guests, and introduced IILM group of institutions to them. The opening session was on the one-year old enactment on CSR spending by corporate India. It was coordinated by Prof. Shivani Tekchandani, IILM, Gurgaon and chaired by Dr. Niraj Seth, Director Development Advisory, E&Y. She made a note of satisfaction regarding CSR being the opening session of a Finance conference, and that IILM was a part of PRME. Acknowledging the pivotal role being played by IICA in the field of monitoring of CSR activities, she outlined that the challenges were in the areas of public declaration of work done, tax perspectives, and choice of NGO as the implementation partner.

Mr. Mukesh Kumar, Sr. Programme Executive, IICA, provided an overview of the CSR legislation, which was unique in the world since it is partnershiporiented instead of being complianceoriented, with the objective that industry becomes an equal partner with the government in social development. Ms. Ruchira Gujral, Corporate Engagement & CSR Specialist, UNESCO presented a powerful case of how children benefit from corporate CSR spends, and that changing business practices has a greater impact on contributions in cash or kind. Mr. Vishal Chowdhry, CFO, Key Sight Technologies, presented a counter

Mr. Vijay Kumar Singh, Associate Professor, IICA, stated that stakeholders, transparency and accountability are the key words defining the theme. He highlighted that the relationship with the stakeholders previously was maintained only as per listing agreement filed at the time of company going public, and the clause per se converses transparency, accountability and sharing information with stakeholders. He appreciated a change in governance norms in the Act. The third session was a panel

discussion on New Trends in Financial Regulations in India. It was coordinated by Dr. Saima Rizvi, IILM, Gurgaon. Mr. Abhishek Tripathi, Director CSR Advisory, PwC, shared some data on actual CSR spends, such as 25% companies have over-spent while others have under-spent. As per the provisions of the act, that the companies of certain financial strength are mandatorily required to spend 2% of average net profits of last three years in CSR activities; there is an increased emphasis on Good Governance. Mr. Rajeev Arora, Sr. Cluster Manager, ICICI Securities, said that the roles of intermediaries are getting redefined. They can either provide advisory services or sell their products. They cannot do both, as there is conflict of interest, and ultimately investors are lured into buying products that boosts revenues of agents rather than benefiting the investor. Mr. Tushar Pandey, Sr. President, Yes Bank, said that the demand for financial services is increasing with the rising income. Financial inclusion drive from RBI has expanded the target market to semi-urban and rural areas.. He opined that the regulatory philosophy should work towards sub-serving the needs of the real economy and not race ahead of it. Mr. Deepak Jain, CFO, American Academy of Financial Management, an alumnus of IILM, discussed about the problems arising

due to existence of multiple regulators in the financial sector. He argued that a single regulator would eliminate the overlap of responsibilities, remove ambiguity, and bring in accountability. For the valedictory session, we had Mr. Sriraman, CFO, HelpAge India, a NGO in India working towards the care for disadvantaged elderly senior citizens. He built a cogent argument around the three I’s of implementation challenges viz., Incompatibilities, Inconsistencies and Impracticalities. There are incompatibilities in this relationship, due to a mismatch in expectation, language and governance structure. The impracticalities arise due to the low threshold of CSR applicability i.e. on Rs. 5 crore of net profit, and due to lack of a level playing field since both the NGOs and PMO chase eligible companies for grants. His recommendations: •

Consistency between Service Law, Income Tax Law and Companies Act

•

Corporations should not measure everything in monetary terms and should appreciate the importance of the development sector.

Prof. Sanjay Srivastava summarised the proceedings of the conference, and Dr. Srinivasan proposed the vote of thanks.

Women in Power:

Best Employers Practice Sharing: Driving Performance Excellence

HR Conference, September 11, 2015 at IILM Institute for Business and Management

NHRDN Session on 17th September, 2015 at IILM Institute for Business and Management, Gurgaon

Changing the Business Landscape

ILM Institute for Business and Management hosted the HR Conference on September 11, 2015 on the theme “Women in Power: Changing the Business Landscape”. The Chief Guest for the conference was Mr. Shitanshu Prasad, Executive Director Personnel, SAIL. The event commenced with the lighting of the lamp by the guests and faculty fraternity with recitation of Saraswati Vanadana. Dr. Sujata Shahi, Senior Director, IILM delivered the welcome address and Dr. Ritu Sharma welcomed the Chief Guest, Mr. Shitanshu Prasad, Executive Director Personnel, SAIL. The guest of honour Ms. Ashley, Founder of New Global Mind Consulting, focussed on three important things - Follow Your Passion, Look for Support from Family and Choose your Company Wisely. The Key Note Speaker, Dr. Sunita Chugh, Founder Director of On Last mile, emphasised on the power of woman by comparing women with Goddess Durga and gave us a powerful mantra of bringing in the power of AND not OR. The first session of the day was on Designing and

Implementing a Progressive and Sustainable Career Path Strategy. Ms. Malini Gulati, AVP Legal, GENPACT, started the day by asking everyone to think about their passion in life. Ms. Shefali Singh, VP International Business, Myntra, laid a lot of emphasis on the support of family when we talk about women in power. The second session of the day was on Fostering the Environment that encourages women risk-taking temperament. Ms. Himanshi Singh, Founder and Editor of woomag.com, took us through the changing landscapes for women entrepreneurship and guided us on how to emerge from being risk-averse individuals to risk-takers. Research papers on “Gender Diversity in Rural Areas” were presented by Prof. Arjya Chakravarty, MDI Gurgaon and Ms. Bharti Goel, PGDM student, IILM Gurgaon. The third session was on Social media /digitisation as a tool to promote women power in organisations. Mr. Mayank Narula, spoke about how technology and big data analytics can help in improving HR policies and bringing women in power. Dr. Savita Mohan, Director, GNOIT, presented

some eye opening statistics about the status of women in India. Ms. Saima Sharif, IABC Accredited Senior Corporate Communication Leader, Head Corporate Communications, Chambal Fertilizers and Chemicals Ltd., enlightened us on how to manage our image through social media because any postings on these social media channels impact our reputation along with our organisations’. The fourth session was on Building Entrepreneurial Capabilities and Mindset. Dr. Srilata, Director, Department of Management Studies, IGNOU talked about the concept of entrepreneurship. Women need to deal with the following aspects to become an entrepreneur – risk taking ability, strategic perspective and integrity. Ms. Geetanjali Saxena, Sage Global HR, spoke about capabilities and mindsets of women. The conference received an overwhelming response where dignitaries from the academia and corporate participated with great enthusiasm.

HRD Network conducted a session on “Best Employer Practice Sharing: Driving Performance Excellence” which was attended by 56 members. The students and faculty members attended the session and were benefited by the learning from the corporate leaders.

The success model states that the focus should not be limited to just their competencies since capabilities can shine in a whole new light. He briefed the audience about how a very highperforming scientist might not be a high performing sales person and vice versa.

The eminent speakers for the session were: • Mr. Marc Effron (President of Talent Strategy Group)

According to Mark, the three thriving questions that can assess the highpotential employees include:

• Ms. Asten Martiwers (VP, Delhi and NCR, NHRDN) The Delhi Chapter of NHRD Network was the organising committee for the session. The session began with a lot of enthusiasm where students and faculty members also joined in to listen to the speakers.

1. Would they stake their personal success to achieve results? 2. What one thing is most likely that derails them in the next three years?

Mr. Marc addressed the audience where he discussed how to predict and understand one’s potential. He mentioned that potential is the ability to move farther and faster in an organisation.

3. Where do they rank among the other high potentials?

HIGH POTENTIAL IS BY BIRTH OR SELF-MADE?

1. Avoid excessive assessments

In scientific terms, high potential is the contribution of both intelligence and personality. The discussion further took a turn by putting the CEOs in the limelight, highlighting the fact that marked differentiation between efficiency and innovation. The key factors that were highlighted: 1. The potential changes with the change in a company 2. Change in companies often takes place at a faster pace than the change in people. Therefore, flexibility is crucial. 3. Limitless expectation that is boundless beyond strengths can be uncertain. Therefore, focus should mainly be on uncertain strengths in accordance to situations.

Dos and Dont’s by Mr. Marc Effron: use

formal

2. Be abreast of your team and team members 3. Do not focus on a primary voice 4. Leniency in ratings should not be permitted. The session presented a huge learning opportunity to the students and the academia, and corporate fraternity.

Faculty Article the other account. RBI, being the supervisory body of governing payment systems in India, has laid down certain guidelines related to issuance and operation of pre-paid instruments in India. RBI has defined pre-paid instruments as “the instruments facilitating the purchase of goods and services, including fund transfer, against the value stored on such instruments. These pre-paid instruments can be issued as smart cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile wallets, paper vouchers and any such instrument which can be used to access the pre-paid amount”.

eWallets in India: A Technical Perspective

or quite some time eWallets have been around in India and an exponential rise in their popularity has been witnessed of late. According to CRISIL, the transaction volume via eWallets has increased more than three times in the last couple of years. eWallets being one of the most successful business ideas for the start–ups today have given a big boost to customer engagement by facilitating anywhere, anytime cashless transactions. As per an estimate from a Research and Consulting firm, the existing Indian eWallet market size is about Rs. 350 crore and in the next five years, it is projected to grow at a CAGR of around 30%. For eWallets, 38% of the mobile wallet activity is for money transfers, 30% for recharges and bill payments, and 12% for utility payments. The remaining 20% of the business is from online shopping. The projections for smartphone and internet users are also very favorable for eWallet business. According to Indian Telecom Regulator, TRAI, India has 975

million total mobile connections and 89% of them are active (TRAI May 2015 report). Although the number of internet users is still low, i.e. 354 million, the conversion of cell phone users to internet users has grown tremendously, 17% in the first six months of this year (Internet and Mobile Association of India). The data reflect the tremendous acceleration of internet usage in the country. Clearly, the internet has become the primary source of information in India today. As per the telecom companies, almost 65% of the new users are those who are using internet via their mobiles. The entrance of low cost smartphones coupled with data plans on low tariffs have capacitated consumers living in non–metro as well as rural areas to use internet eas-

ily and the figures are expected to rise in the coming months from these areas. This increase in internet usage will definitely strengthen the digital commerce in the country. As digital commerce is growing, a considerable number of payment gateways have entered India, signing up with identified merchants to lessen the hassles associated with the payments related to online transactions. Several companies, especially the ones who are in the eCommerce sector have come out with their own digital wallets to facilitate the consumers. Apart from the eCommerce sector, several services-based startups are also promoting the use of wallets as convenience-based services. All that is required is load the wallet with eMoney, use the service and transfer to

The pre-paid instruments issued in India can be classified into three categories: Closed system payment instruments, semi-closed system payment instruments and open system payments instruments. Closed system payment instruments are the instruments issued to facilitate in-house purchase of goods and services. No cash withdrawal or redemption is allowed under this category of instruments. These instruments do not carry the advantage of third-party payment or settlement. Make my Trip, Ola and Flipkart are examples of closed system payment instruments as the flow of money is one-directional in these systems.

services at identified third-party merchant locations having a specific contract with the issuer to accept the payment instruments. But these types of payment instruments do not permit redemption or cash withdrawal by the instrument holder. Paytm, Oxigen, Mobikwik and PayU are the popular examples of semi-closed wallet systems. Open system payment instruments are the instruments allowing purchase of goods and services including financial services like fund transfer at merchant outlets or point of sale terminals accepting cards. Cash withdrawals at ATMs or Business correspondents are also permitted under these instruments. Open system payment instruments can be offered only

by banks. Vodafone’s M-Pesa facility in association with ICICI Bank is an example of open system payment instruments. Since long, RBI has been restricting the number of new entrants into the banking industry. But with the onset of Payment Banks, eWallet providers have also managed to enter this competitive zone. In response to this, leading Banks of India were also quick to launch their own wallets, Pockets by ICICI, PayZapp by HDFC, SBI Rewardz by SBI and Pingpay by Axis Bank. Keeping in view the growing interest of players to enter into eWallet instruments, RBI has issued guidelines for licensing of companies which can enter and

Unlike closed system wallets, semi-closed payment instruments allow purchase of goods and services including financial

innovations and change. Probably some sort of standardisation can be brought into the system to attract the customers and additional focus is also required on the part of providers to educate customers about the facility. Offline usability of the eWallets would also help in dealing with the internet connectivity problem in India.

Neuromarketing: Understanding the Consumer Pleasure Points for Success

operate in this space. A handful of players are now applying for licenses to set up payment banks to grab this opportunity. Till date, RBI has granted “inprinciple” approval to 11 applicants to set up payment banks under the guidelines for licensing of payment banks. The concept of payment bank is introduced by RBI to achieve financial inclusion by providing small savings account, payment/remittance services to small businesses, low income households and other unorganised sector entities. According to RBI directive, telecom operators, eWwallets and prepaid instrument players will also be allowed to open Payment Banks facility to accept demand de-

posits and provide remittance service to those who are excluded from digital financial system. Although, the payment banks will be initially restricted to holding a maximum balance of Rs.1,00,000/- per individual customer, but their introduction into the financial system will definitely strengthen eWallet holders in India. Despite its promising future, the eWallet business is facing challenges in India such as alternative money transfer channels, low awareness, restriction of cash-out facility, little margins and poor internet connectivity in many areas. So, the providers are required to take a lead as the low-value, highvolume market is still ripe for

Ms. Nirmaljeet Kaur

yundai Motor America in 2011conducted the study for a sporty silver test model with the help of neuroscience to collect the insights. In the study, 15 men and women each were asked to gaze at a particular part of the car, which included the windshield, the bumper and the tires for an hour. Electrical activity in the brain at the time of stare was in parallel captured by the electrode studded caps on their heads. The data was getting stored in the hard drive, worn by the each person on a belt. Dean Macko, Manager of brand strategy at Hyundai Motor America said in context to the above study that, “We want to know what consumers think about a car before we start manufacturing thousands of them.” On the basis of the collected insights through electroencephalograph (tracked activity in all parts of the brain), Hyundai Motor America will tweak the exterior design. Using EEGs and magnetic resonance imaging to track the

blood flow and electrical activity in consumer’s brain is believed to guide the companies to offer the right product design and ad messages to boost sales as well as customer satisfaction. However, it is still a topic of debate. Does it really work? For consultants, it surely does. One of the neuromarketing companies, NeuroFocus of Berkeley, Calif is the company which works with Hyundai, Google and WaltDisney; EmSense from San Francisco works for Microsoft and Sand Research of EI Paso, Tex works for Chevron. PepsiCo’s Frito-Lay unit has used neuromarketing to test advertisements and packaging in the U.S. and overseas. With the help of neuroscience, they revealed that beige colour bags of potato chips having potatoes and other healthy ingredients in the snack don’t trigger activity in the anterior cingulated cortex (brain area associated with the feelings of guilt) as much as shiny packets with pictures of chips. Frito-Lay then switched out of shiny packaging in the U.S.

eBay’s PayPal researched through brain-wave technique that speed turns on the online shoppers in comparison to safety and security. Thus, PayPal persuaded its customers by positioning itself as fast. EmSense, working for Microsoft, generated EEG data to show how gamers stay engaged while using an Xbox. The company used EEG caps on gamers and exposed them to ads on the videogame system. It captured the parts of brain which got stimulated at the time of ad exposure. Study revealed that ads that stimulated several parts of the brain are more likely to entice customers to go out and purchase the product advertised. Similarly, Yahoo used EEG before spending money to air a 60-second television commercial on prime time and cable TV. The ad showed happy, dancing people around the world. The brain activities indicated the simulation in the limbic system and frontal cortices of their brain, where emotion-

al thoughts and feelings take place. It was a $100 million branding campaign.

Neuromarketing Neuromarketing is the recognised study, directed towards a detailed attempt in understanding the consumer decisionmaking process. It maps the brains responses to advertising, branding and buying situations, and the arrangement of these stimuli, based on the feedback to extract a better response. Marketing researchers use technologies used in medical science like Functional Magnetic Resonance (fMRI) and Electroencephalography (EEG) to measure the specific type of brain activity. This information helps marketers to understand why consumers make specific decisions, what motivates them to do so and which part of the

brain is responsible for the same. It is a new field in the area of marketing and consumer behaviours. It has originated with the combination of marketing and neuroscience. The main aim is to study the consumer brain patterns at the time of decision making by analysing sensorimotor, cognitive and affective response to marketing stimuli. The old school of thought says that consumers make buying decisions rationally. But the researches and study of consumer brain in neuromarketing revealed that the limbic system, the part of the brain which is responsible for emotions and memory makes 70-80 percent of buying decisions. Brain scans showed a lack of brain activity during majority decisions. This

indicated that the brain does not make decisions consciously. Neuromarketing tries to track the role of emotions in the decision-making process. Obtained knowledge can be used in designing the right product, pricing, and communications; this is also used for layout and design of the retail stores for better consumer experiences and satisfaction. Applications of Neuromarketing in Different iFelds of Marketing

Neuromarketing in Product Design Products’ looks, feel, texture and its functions (utilitarian and hedonic) all affects the consumer experience. Study of consumer brain patterns can help with insights on the emotional effect on design choices

and packaging.

Neuromarketing in Pricing – How consumers perceive price information is of utmost importance for marketers. Price is a significant variable in the success of any product or service. This knowledge from neuromarketing can majorly help marketers to persuade their consumers with appropriate price.

Neuromarketing in Store Design and Layout – It arises from the premise that 70 percent of our decisions are taken inside the store. And every in-store decision is not taken rational. Retailer’s success depends on the consumers experience within the store. How consumer perceives and experiences store’s navigation, price and promotions, and visual merchandising too influences their buying decisions. Retailers can use the scientific and psychological principles of neuromarketing in retail atmospherics.

Neuromarketing in Market ResearchCompanies use neuromarketing to comprehend the consumer evaluation of new products, advertisements and media choices. To name a few, Google and Media Vest partnered with biometrics researcher NeuroFocus to understand how users respond to their in-video advertisements on YouTube. Microsoft uses EEG data to under-

stand its end-users interactions with its personal and laptop computers. Frito-Lays studied the female consumer’s brain and discovered that they need to avoid talking about ‘guilt’ instead focus on healthy associations in its communication. In 2004, the fMRI were analysed during a Coke vs. Pepsi famous blind taste test.

Neuromarketing in AdvertisingNeuromarketing principles can be used to develop commercials and campaigns. Although advertising is a creative process by nature, neuromarketing is able to add value by the gauge the effects of stimulus’s on receivers’ brain. Neuromarketing is a well-developed in adtesting for effectiveness. Also, it helps in predicting how an ad is related to likability and sales of the product. To conclude, neuromarketing results into a mutual beneficial experience for both consumers and companies. When you visit a discount store, you don’t expect artistic display and products complexity. Rather it is about matching the consumers’ expectations in terms of emotional level to decrease the stress of shopping at the desired price. Marketers have to keep needs and expectations of their consumers on top and then think about the ways to meet them. A decade back, the

cost of using the technology on rent kept marketers away. A few years ago, the cost of renting brainimaging machines kept many marketers from experimenting in neuromarketing. But recently, at least eight companies offer fMRI and EEG services at $50,000 for 30 consumers. Thus, companies invest and work for innovations but innovation has no meaning without buyers. Neuromarketing helps businesses with the tools and applications to generate value and make customers happier.

Dr. Kriti Swarup

BOOK REVIEW • Fostering the culture for exploration and experimentation In scene four, the author describes about the 10 important principles of design thinking:

Design Thinking for Strategic Innovation

1. Getting hands dirty rather than being an armchair strategist 2. Shed traditional roles, and adopt new thinking and approaches 3. Follow patient, observational research techniques

By Idris Mootee

n Uncertain Glory: India and its Contradictions is published by Penguin Books in 2014 , wherein the two economists Jean Dreze and Amartya Sen pose a question that who are the actual beneficiaries of this growth. The book is an eye opener on two fronts one that the growth is not participatory and two public sources generated by economic growth have not been able to improve the living conditions of people at large Idris Mootee received his management education from one of the prestigious B-schools of the world; and is a well-known strategic innovation thinker. He has advised top executives of the Fortune 500 companies; and has delivered lectures at top universities of the world. He has so far authored five books. His work seems more experiential than based on research, as it does not cite the work of researchers in the text. The way we do business today

was not yesterday, and will not be tomorrow. In scene one, the author argues that predictability of businesses using models on billions and trillions of data points can forecast only about three or six months into the future. For businesses to be sustainable, we need to think afresh, as today’s challenges do not have any history. This is where the author advocates the importance of Design Thinking (DT). In scene two, he argues that DT helps in understanding the complex connection between people, places, objects, events and ideas; leading to disruption and sustainable competitiveness. DT is about new ways of thinking, where we put innovation at the core. In scene three, the author lays stress on innovation. DT helps unlock hidden value, by breaking patterns and making new worlds to emerge. Traditional managers are deterred from assuming extra risks or committing wrong. Quoting Herbert Si-

mon, Professor, Carnegie Melon University, he defines design thinking as the transformation of existing conditions to the preferred ones. A DT organisation is capable of enhancing knowledge from mystery to heuristic to algorithm, gaining a cost advantage over its competitors. It focuses on human-centric approach to identifying problems followed by a rapid prototyping of ideas into tangible artefacts. DT is about the magical balance between business & art, structure & Chaos, intuition & logic, concept & execution, playfulness & formality, and control & empowerment. DT is:

• Application of empathy • Collective problem solving

4. Explore uncertainties, be prepared to work with unknowns, and insufficient information to obtain tangible results 5. Adopt a continuous learning path to keep pace with shifting goals 6. Communicate continuously to identify the customer needs, and get insights for business improvement 7. Consider minute factors, and learn from small-small failures to reduce risk

• Problem-solving approach to handle problems at system level

Further, he highlights the eight challenges of growth, predict-

and

American psychologists Robert Sternberg and Todd Lubart identify six traits to creativity, viz., intelligence, knowledge, thinking, styles, personality, motivation, and the environment. Organisations that encourage trial, error, experimentation, and creative play; and

DT paradigm change concentrates on PortfolioPractice, Theory, Purpose, System, Agility, Fast Learning and Rebellion instead of Planning, Theory, Power, Objects, Structures, Formal Education and Conformity. The author opines that today is world of kinship. With crisis after crisis, the new approach to success has to be we like, we share, we have friends, we link in, we invite, we endorse and we connect. DT has to be humancentric.

Conclusion Design Thinking is a process that needs to be adopted by the organisations that expect to survive in today’s competitive world. DT is an intellectual process that balances the rational and emotional – in effect combining left brain and right brain thinking. When applied, it harmonises with other modes of thinking and closes knowledge and information gaps, creating order and redefining meaning.

9. Encourage curiosity, inquisitiveness, visualisation, and creativity embracing ambiguity

inquisitive

• Curious mindset

In scene five, the author quotes Igor Ansoff that most failures in organisations happen because of the tendency to overlook the vague, anomalous, ambiguous, yet critical information, and developed weak signal theory. Through this, the organisations generate insight by identifying structures, patterns, themes and trends; and amplifying the critical ones, for noise reduction and clarity. Cross-industry scanning curates market expressions and innovations for adjacent industries.

rapid prototyping of all of these, would breed creativity and innovation.

8. Iteratively develop maps, models, sketches, and stories for capturing information to form and socialise meaning

10. Design products and services that are sustainable competitive advantage through innovation

• Balancing needs and feasibility

ability, change, maintaining relevance, extreme competition, standardisation, creative culture, strategy and organisation, which can be overcome by working together, communicating, empathising, anticipating, and understanding.

International Faculty at IILM

Prof. Werner Wetekamp

Mr Mariusz Soltanifar Dortmund University | Nertherlands | February 2016 Hanze Gronigen University | Nertherlands | 6th-21st January 2016

Module: Controlling & Finance as part of Project Control

Module: First Hundred Days in Business as part of Entrepreneurship Area

Prof. Werner’s educational background essentially includes Bachelor in Economics from Dortmund University and Master of Economics, from Cologne University. He completed his Ph.D studies in 1997 from Energy Institute, Cologne. Currently he is teaching at University of Applied Science Dortmund. Previously he held the position of Deputy Professor, areas of lectures including - Project Management, Controlling, Organization, General Business at University of Applied Science Dortmund (2011-2013)

Mariusz Soltanifar is a Founder & CEO of Link to Poland Ltd. Also, he is a Marketing Lecturer, Researcher & Traveler. He completed his Master studies in Foreign language: Business German from The University of Lodz, Poland Faculty of Management and Marketing. He completed his PhD research on Marketing, Intrapreneurship and innovation from University of Lodz, Poland Faculty of Management and Marketing Department of Entrepreneurship. As part of International & Intercultural work experience, he is currently a PhD Candidate, Research School of Management Innovation & Organisation Programme at The University of Groningen, Faculty of Business & Economics Groningen, Netherlands.

Prof. Anthony Okuogume

Prof. Gatien Beaumont University of Lorraine | France | February 2016

Lapland University of Applied Sciences | Finland | 4th-15th January 2016

Module: Entrepreneurship and State & Society as part of Social Enterprise

Module: Strategy as part of Innovator

Prof. Gatien is currently working as Associate Professor at ISAM-IAE (Université de Lorraine), teaching main courses that includes - Social Entrepreneurship, Public policy and Management. He is also the Founder of Horizons Conseil - Strategic Consultancy Firm Specialized in Social & Solidarity Economy. He holds the Master’s Degree of Graduate Director of Health Services, Welfareand Care Establishments (C.A.F.D.E.S.) from Ecole des Hautes études en santé publique E.H.E.S.P.

Prof. Anthony Okuogume currently holds a position at Lapland University of Applied Sciences as Senior Lecturer in Business Management and marketing. He teaches core MBA International Business strategy, knowledge and innovation management and strategic network management courses. He also supervises MBA thesis works. In addition, he teaches entrepreneurship, marketing and software business courses at the bachelor level.

Some of his core competencies include - complex projects by integrating political, strategic and operational dimensions, Health and Social entrepreneurship, and Prepare, conduct and support change in organizations. He has an extensive experience in terms of some corporate/administrative areas under RWE Power AG, System AG, RWE Gas AG/RWE Energy AG.

Prof Anthony’s some of previous teaching experiences includes associations with - Kemi Tornio University of Applied Sciences (2007-2013), University of Oulu (2004-2007), as Senior Lecturer (marketing and software business). He is a Ph.d in Marketing (IN PROGRESS. RESEARCH TOPIC, MARKETING COMPETENCE IN SOFTWARE SERVICE BUSINESS) Department of Marketing, University of Oulu. He holds a Masters Degree in Administrative Sciences and Post Graduate Certificate in International Business Strategy, 1998, London School of Economics.

Prof. Ari Alm Lapland University of Applied Sciences | Finland | 4th - 15th January 2016 Module: Strategic Leadership as part of Organizational Behavior and Human Resources Prof. Ari from Lapland University of Applied Sciences is supervising Bachelor and Master thesis projects in management and communication study programs. He is responsible for the courses in several academic institutions in Finland like University of Oulu, University of Tampere, Aalto University, Laurea University of Applied Sciences, Metropolia University of Applied Sciences, and YLE Radio and TV Institute. Since 2006 he’s been working full-time in Lapland University of Applied Sciences.

Prof. Ari is currently exploring the change of strategizing practices in media corporations. This doctoral research draws on strategy-as-practice perspective on strategic management, i.e. the strategy work encompassing all the continuous practices and processes through which strategy is conceived, maintained, renewed, and executed. Speaking of Publications by Prof Ari, he has published two higher degree level course books and numerous research reports on managing media business organizations in high-velocity environments. He has also published research articles in major American and European academic journals as well as book chapters in international and domestic research publications.

Prof Ian Fitzgerald Hanze UAS, Groningen | Netherlands | April 2016 Module: Doing Business in Diverse Markets a part of Marketing Prof Ian Fitzgerald is originally from Belfast in Northern Ireland, and have been living in Groningen, The Netherlands and working for the International Business School of the Hanze University of Applied Sciences since 1993. His principal focus is on International Marketing and Supply Chain Management, teaching courses at both Bachelor and Master levels. He is active in the International Exchange Programs of our university having taught at partner universities in Germany, France, Spain, the United Kingdom and the United States. In 1998 he became the Managing Director of his own consultancy, FIMCO (Fitzgerald International Marketing & Consulting) providing services to industry in the areas of International Market Entry decisions and Supply Chain solutions.

Prof Roy Rus

Prof Cheryl Dowell School of Facility Management, Hanze University of Applied Sciences | Netherlands | April 2016

Algonquin College | Canada | March 2016

Module: Financial Derivatives as part of Finance.

Prof Cheryl Dowell is a certified Human Resource Practitioner (CHRP cand.) Human Resource Profession HRPAO. Since 2005 she has been associated with as a full time professor at Algonquin College, School of Business. She also works as a Full Time Coordinator Business Management and Entrepreneurship 2 year Diploma Program, Algonquin College. As a professor she has completed her 13 years in th profession. She is a Recipient of the Algonquin College Presidents’ Star. She also designed and executed the Curriculum Development of 10 courses. She is a mentor to all program new part-time faculties. Works as a lead committee member for School of Business College Connection High School event, also directs as a Coordinator, Ontario Management Development Program, School of Part-time Studies.

Module: HRPA, PWO & Strategic Leadership & Change as part of Human Resources

Born and raised in Groningen, The Netherlands, he studied Economics at the University of Groningen. Specialised in Finance & Investments. After graduating he started working as a fund manager, managing exchange-traded funds. These funds invested in derivatives and equities, in countries like Japan, Vietnam, or regions like the African continent. He has been working as a senior fund manager from 1997 till 2012. In 2012 he ventured out his work on into education industry. At the International Business School of the Hanze University of Applies Sciences his core subjects are finance & investment modules for undergraduates. Next to lecturing, he is an honours mentor. Honours students have an honours curriculum next to the regular one. In the honours curriculum self-development and interdisciplinary are key components.

Prof Michael Wade

Jens Karbo Business Academy Aarhus | Denmark | January 2016 Module: Controlling Export Marketing.

and

Finance

part

Seneca College | Canada | January 2016 International

Business

and

Mr Jens Karbo started his career as an Editor at an academic publishing house (Systime, Aarhus) within the areas of Business, Economics, Marketing etc. He has also worked as Head of Section at the publishing section of the Knowledge Centre for Agriculture in Aarhus. During his teaching career he also taught at different programmes at different educational institutions. His primary association is mainly international students – with Bachelor Programme in Financial Management and Services. Currently at Business Academy Aarhus he is active in the development of a joint semester with Shanghai Jianqiao University Business School.

Module: Doing Business in Diverse Market as part of International Business Prof Michael Wade is currently associated with Seneca College, Toronto, Ontario as a Business Professor. Courses taught by him include Business Law, Business Ethics, Introduction to Business, Introductory Marketing Advertising with main area of specialty being International Business Management. He is a program coordinator for 2 year Business Diploma. Besides, he is actively involved in designing, implementing international business management course. Before his association with Seneca College, he was working with Centennial College as a Business Professor, with major subjects to teach as International Business and Organizational Behavior. Prior to his academic background, Prof. Michael Wade was associated with consultancies and corporate as a financial and marketing analyst to gain an extensive understanding of concepts in practical application.

Prof. Søren Ipland Business Academy Aarhus | Denmark | March 2016 Module: Digital Media Communication as part of Digital Marketing Prof Soren Ipland has an extensive background in Multimedia and Digital Communication. His teaching period started in 2008, started at Aarhus Tech and continued gaining experience at Business academy Aarhus, in both institutions in the field of multimedia development and digital communication. Over the years he has also been working on assignments in sound design, producing sound for computer games. In the ongoing academic projects, he’s been taking lectures in digital concept- and business development at the bachelor education in Digital Concept Development. His association has mainly been in interdisciplinary frame-set both in his lectures, as well as when designing projects for the students.

Banyan Tree School, Chandigarh “Where the mind is without fear and the head is held high.........”

ducation is a lifelong journey and here at Banyan Tree School, Chandigarh, we realize the importance of a good start, and lay & strengthen the foundation of love and learning. Schooling is, without any doubt the foundation stone upon which the life of an individual is built. A good education system is not just about books and the classroom but it is the one that makes its students capable enough to apply what they learn in their daily lives. A good school is not the one which comes out with the best results but where the children are confident of themselves and can stand up for what is right and oppose what is wrong. It’s a place where the child can not only memorise the facts but also where he can think practically, logically, and rationally and has the power to imagine freely. At Banyan Tree School, efforts are made to encourage students to participate in various activities which not only make them competitive but also help their own standards. Teachers have an intense zeal to nurture young minds. They go through regular orientations to add value to their existing knowledge bank. We organise regular Staff Enhancement Programmes for the faculty. We have the best of teachers at all levels, still the need is felt to

upgrade the skills of teachers and apprise them of the latest concepts of teaching. Therefore, our teachers are introduced to innovations so that they can do things differently and equip the In- Service school teachers with contemporary and practical techniques in education which helps them comprehensively address the challenges of tomorrow. Established in 2003, Banyan Tree School, Chandigarh is one of the most prestigious and premier institution in the tri city. It is not only known for its academic excellence, but also for the innumerable extra-curricular activities it encourages.

The world today has a cutthroat competition and Banyan Tree School is well prepared for the same.

ents and teachers form a partnership and support each other through the child’s journey in the school.

The school rises above the confines of conventional teaching. With an activity-based curriculum, the institution initiates character development and the highly-qualified faculty ensures academic excellence. Every corner of the school talks about its unique pedagogy and offers a special learning experience. An opportunity is provided to every child to progress and experience success.

Students have a wide array of activities to choose from, with the option of participating in the same activities or experimenting with the new ones. Athletics, Debating, Dramatics, Social Service and Music are but a few of the varying opportunities provided to young Banyanites to help find their sphere of interest.

We follow a collaborative approach where the school, par-

Our avid readers enjoy in the well-stocked temperature-controlled library with an exhaustive selection of contemporary

“I have walked that long road to freedom. I have tried not to falter; I have made missteps along the way. But I have discovered the secret that after climbing a great hill, one only finds that there are many more hills to climb. I have taken a moment here, for with freedom comes responsibilities, and I dare not linger, for my long walk is not yet ended.” ~ Nelson Mandela to rest, to steal a view of the glorious vista that surrounds me, to look back on the distance I have come. But I can rest only for a moment

designed child-centered curriculum based on phonetics provides the children with a strong foundation of spelling and vocabulary. They learn about the significance of festivals and are encouraged to imbibe Indian values in their lives. The senior wing of the school enables the students to stand at par in today’s competitive world. The conformity with CBSE – CCE pattern ensures the holistic development of the students encapsulating scholastic and co-scholastic aspects including Life Skills, Attitudes and Values, Performing Arts, etc. Children need to be nurtured, engaged and challenged intellectually, emotionally spiritually and physically. Development of the whole child is essential for a happy and fulfilled life.

fiction, classics, philosophical books and encyclopedias.

Academics From the perils of fanaticism, to the effects of global warming,

from social issues to political ones, from the determination to have a vibrant personality and a successful career, our students are concerned about all this & more. Learning is fun with most inno-

Remedial classes for below average and enrichment classes for above average students are a practical approach towards excellence. Every new process that is started in school; its outcome is measured and analysed regularly.

Clubs Beyond Academics: Promoting Culture and Creativity The stage is not merely the meeting place of all the arts, but is also the return of art to life. – Oscar Wilde The various clubs, houses and work experience programmes contribute to sensitising the students and hone the creative sides of their personas in the fields of Drawing, Painting, Cre-

ative Writing, Reading, Quizzing and Photography. Whilst high academic achievement is a priority, the school aims to create a ‘community’ of well-rounded individuals, where the spirit of creativity and culture exists amongst the students. Keeping in mind the multiple intelligence of a child, the school focuses on bringing out hidden talents of its students through various clubs. All children are naturally motivated to learn and are capable of learning. They construct knowledge by connecting new ideas to their existing idea. We, at Banyan Tree School work to stimulate their creativity and give them a way to the beautiful world of creativity by engaging them in a number of clubs we abound them with. To mention a few, we have Eco Clubs, Cyber Club, Ro-

vative techniques and activityoriented approach. Children at the junior level learn to question, analyse, classify and communicate their perceptions. Education is imparted through play-way methods. A suitably

of cricket and football ground, skating rink, basketball, tennis and badminton courts. Various sports are played, giving students an opportunity to develop in them the essential qualities of friendship, sportsmanship, brotherhood and comradeship so vital for personality development. Inter-house competitions are scheduled throughout the year and are religiously held in various games and sports. Sports impart health and agility of mind in a practical manner on the playground.

knowledge of values which we believe will make them committed towards the dream of India. We strongly believe that our students will actively give back to the society (Social Responsibility) by bringing about meaningful changes and sustaining its development with their acts. We hope to shape the young minds of today into thinking leaders of tomorrow by providing right emphasis on gender equality and women empowerment.

Council Members Value Education We emphasise not only the knowledge of facts but also the

botics Club, Music Club, Painting & Sketching Club, Creative Club, Sports Club, and Foreign Language Club, Dramatics Club and Photography Club.

Robotics I feel proud to enrich my young students with technical knowledge by providing a wellequipped Robotics Lab. It helps to shape the imaginations of their inquisitive brains.

Co-Scholastic Apart from various literary, scientific and organisational skills, at Banyan Tree School students are nurtured and encouraged to develop an independent

ideology, optimistic approach, enabling them to deal effectively with the demands and challenges of everyday life. We aim to provide every child with a practical and realistic set of skills to increase their personal safety, confidence and ability to communicate.

break in the routine for both students and teachers. While their purpose is essentially to educate, they can also be a fun bonding experience for everyone involved.

The senior block is equally colourful and exciting like the junior wing with the similar activity corner, maintained by the students themselves. Learningwhile-walking approach is the innovation done at Banyan Tree School recently. Senior Wing is more of a research centre, nurturing a child to hunt for excellence than merely a centre for role learning.

I always believe that no better image can be portrayed to the importance of sports for character building. Sports hold an important and prominent place in the school curriculum and immense stress is laid on regular games and sports being played by the students to keep them physically fit and mentally alert.

Educational trips are a welcome

Students at Banyan Tree School are actively encouraged to engage in both team work and

leadership activities. Students experience the satisfaction of completing projects and building positive self images while working closely with their peers. We believe that the ability to speak comfortably in front of groups is an essential life skill. While leadership and teamwork are an integral part of the classroom experience, we also encourage our students to engage in more formalised leadership opportunities.

Principal Sudeshna Sharma

Sports

Spread over five acres, Banyan Tree School offers the facility

Campus news

Alumni Profiles SHRUTI KOHLI (Batch 2008 – 10) Ms. ShrutiKohli has been working for the past 5 years in the area of taxation and auditing. Shruti completed her PGDM program from IILM, Gurgaon in the year 2010. She was awarded the gold medal for securing first position in the post graduate program and a silver medal for securing the first position in the area of finance. During college days, Shruti not only excelled in academics, but also excelled in basket ball. She anchored the annual inter college festival of IILM and also won the first prize for the inter college corporate walk. During her masters, she did her internship for a period of three months with Feedback Ventures Private Ltd which enhanced her knowledge in financial modeling. Through campus placement, she was selected by Ernst & Young as CA Article Trainee. She completed her CA articleship training and got promoted as a Tax consultant. She has been working with this company for the past 5 years.

GURGAON Placement Week at IILM

both the students and the companies.

IILM observed “Placement Week” from 24th-27th August, 2015 for post-graduate students from all three campuses. Various companies from across sectors were invited to deliver their Pre-Placement talks and share their interview processes along with the job profiles available. The exercise was intended for the companies to be able to interact with the students, and the students to gain greater insights about these companies, the job profiles on offer and their respective selection process. The event was fruitful for

The week saw companies like Samsung, Vodafone, Blackrock, Cargill, J K Cement, Ernst and Young, Capital IQ, Deloitte, Adglobal 360, Publicis Group, etc., deliver their presentations. Many startup companies like Urban Clap, V Resorts, SmartWords, Flexipass and Finalytics also came on campus. This helped the students gain a holistic view of all the sectors in a concentrated form, so that they could identify and sort companies in order to make themselves better prepared for the upcoming placement interviews.

This year, apart from the existing recruiters, the focus was on reaching out to the Alumni based in various companies. Around eight Alumni Members participated in the Placement Week. They also offered to interact with the students who were interested in follow-up sessions. The placement team reached out to many new companies through references from the Alumni base. The focus of these events is to enhance the interaction and involvement of our students with our Alumni. The eminent delegates from the respective organisations who all visited and briefed the students were:

DEEPAK VERMA (Batch 2006 – 08) Mr. Deepak Verma completed his post graduate program in Marketing and Sales in 2008. He immediately joined the Leela Group of Hotels as Sales account manager. Since the, there has been no looking back for Deepak. He has spent almost 7 years with the Leela Hotels in their Sales and Marketing department. He was responsible for handling the niche portfolio of corporate clients from Gurgaon for all the hotels of Leela Group across the country. For a very short period of time, he worked with Moevenpick Hotels and Resorts as Senior Sales Manger. He was looking after the NCR region for Sales and brand promotion of Moevenpick Hotels. The portfolio comprised of corporates, embassies, ministries, wedding planners and public sector companies. He again went back to Leela Hotels as Associate Director, Sales and has currently changed his job. He is now working with the Hyatt Regency as Associate Director, Sales

Students from Northeastern Illinois University at IILM Gurgaon

• Mr. Rahul Sachdev from SAP

ticipated in singing and dancing events organised by their peers to present their forte in a specific area. The songs and dance presented were a great blend of traditional and contemporary styles.

• Mr. Sagar Gupta and Ms. Garima Sareen from Ad Global 360 • Mr. Raghu Raj Rathore and Mr. Rahul Arora (Entrepreneur) from SmartWards • Mr. Rajender Birla Finalytics Consultancy • Mr. Atul Singh from Samsung • Mr. Pankaj Gupta from Flexipass • Ms. Arti Chopra from Zenith Optimedia • Mr. Abhay Tamaria from Red Carpet

Ad Mads at IILM, Gurgaon On 8th September, 2015, IILM Institute of Business and Management engineered an event which gave its students a first-

The participants and organizing team of the Talent Hunt competition

hand understanding of marketing and advertising. The Marketing Club organised “Ad Mads”. Students were required to form groups of five for participating in the competition. There were a total of seven teams who had registered for the event ready to go head-to-head with each other. Groups were to choose any FMCG product and market their product.

Talent Hunt The first event of Utsav – The

Colours of the Tiranga - The perfect ending to the performances for the day

Cultural Club started off with a bang for the new batch of 201517 with the Talent Hunt competition. The students pulled off a great show, helping their colleagues and themselves to showcase their hidden talent. The activity was a wonderful welcome and a much-needed breather to the student’s academic schedule. It was the first time in two weeks of the orientation programme that the students were able to interact with the faculty and staff members. The spirited students par-

The hosts of the day did a fabulous job by getting the crowd to put on their thinking caps as they bombarded the audience with a series of rapid fire rounds. They also organised Extempore which allowed people from the audience to speak on a topic for a few minutes. The faculty members came up for the extempore on the request of the students and brought a smile to every student’s face. All the students were applauded and rewarded for their participation and noteworthy performances.

Independence Day Celebration, 2015

was enthralled with the dance performances, which showcased the vibrancy and colors of India – Des Rangeela, accompanied with various other performances depicted the states and culture prevalent in India and commercial India. To sway the audience, a college band performed a lyrical display of patriotism. The faculties and audience were kept engaged through a fashion show, which was conducted to identify the best-dressed students with respect to the theme. Two boys and two girls were awarded with the title and were applauded for their patriotic attire. The event proved to be a huge success and got everyone engrossed with the celebrations. It truly felt like a Mil-e-Sur day for us at the IILM Gurgaon Campus as it inspired us all to keep the unity and patriotism

for our country intact and further to celebrate the pride of being Indians. Jai Hind!

Teachers’ Day and Janmashtami Celebration Amidst the management rigor, the students of IILM cannot imagine anything existing without their faculty members, who put in a lot of hard work into the students and to dedicate only one day to them would not do justice to appreciate all the things the faculties do each day. Thus, the event was conducted in two parts. The students of IILM Gurgaon planned a twoday event to celebrate Janamashtami and Teachers Day with the Faculties and Staff on the 4th and 5th September, 2015. On 4th September 2015, the

Displaying the vibrant “Colors of India”, Utsav – The Cultural Club presented its next event after in August 2015. The event marked the coming together of PG1 and PG2 students to display their love and devotion for the country. Celebrating the 69th Independence Day, the event showcased both modern and traditional India. Starting off with a Street play, “Bharat Mahan” the students projected Indian historical events right from the struggle of independence, to post-independence and wrapped-up beautifully to the present scenario of the Indian subcontinent. The dramatisation of the insurmountable pains and struggles of our lost heroes struck a chord with the audience. The audience

Janamashtami Puja at IILM Gurgaon

event started with a Janamashtami Puja where the birth of Lord Krishna was celebrated by a small ceremonial “Bhogh” to the Lord followed by a “Handi Todd” where the students huddled up and made a human pyramid in order to burst the “Matka” or Earthen pot, filled with milk which was hung by a rope on the ceiling. The Teachers’ Day celebrations began thereafter where song dedications were made by the students to felicitate the faculty members followed by a couple of games and fun to engage the faculty members and the staff. The day ended on a fabulous note and the awaiting surprise for Part two of the celebration.

On 5th September, the teachers were busy conducting their lecture and students were engaged in arranging a party in the college cafeteria for the faculty and staff members. All the faculty members were invited and a cake cutting ceremony was conducted. On request of our teachers, the roles were reversed- the teachers acted as students and vice-versa. In the end, the students expressed their gratitude for their loving teachers through the card collage, which was much appreciated by the faculty and staff members. This marked the end of the twoday event for Teachers’ Day and gave the students a chance to

Campus news

express their gratitude to the faculty members. Their guidance and warmth do not let us miss our loved ones even for a minute in the day!

LODHI ROAD

NGO Club Event NGO Club, Pukar of IILM Institute for Business and Management organised an event where student members invited kids of support staff as well as kids from nearby slum areas to the campus. A number of activities were organised for these kids like role-play activities, dance performances, games, drawing, etc. Student members took full charge of the event from organising to managing it. At the end, kids were served fruit juices and snacks plus gifts which made their day.

Dancing to the Beats

Dance Performance by the Students

Dandiya Night 20the November was the day students and faculty came together to celebrate Navratras and the welcome the festive season of Diwali. Dandiya Night was a night to remember with foot tapping music, energizing beats of the dhol, food and dance.

Mil-e-Sur - The Band Performance played the tunes from different parts of the country

Students and faculty came together to celebrate the festive season with dance performances, games, food and fun. The evening started with dance performances by students followed

by a couple of games. This was followed by dancing and just an overall enjoyment of the beautiful dandiya beats being played by the DJ and the dhol players. The evening ended by awarding of prizes for the best dancers and best dressed individuals. It was overall a funfilled evening for faculty and students alike, a night to remember.

Young Entrepreneurship Ideation Challenge With the rise in the number of

startups and young entrepreneurs in today’s business world, IILM’s Undergraduate Business School thought it would be a good idea to introduce a competition that would give a boost to young entrepreneurial minds. The event was organized on 4th of December for school children from classes 9-12 who were to come up with innovative solutions to day to day problems in society. The teams were to present their proposals to a panel of judges who judged them on creativity

and feasibility, amongst other criteria. The teams were also given feedback on their ideas so that they could be taken forward as successful ventures. The top 5 teams were then felicitated for their efforts with cash prizes and trophies. The response was overwhelming and IILM is proud to have played a part in boosting young minds towards entrepreneurial ventures.

Alumni Meetup IILM organized a 4 day Alumni Meetup from the 10th to the 13th of December. The aim of this meetup was to have networking with alumni and enlighten students about the various industries available for them to explore and further their careers in.

The first 2 days were broken up into a series of workshops to give students an idea of interview processes, CV writing, Group Discussions and Excel. Students were actively involved in the various workshops and completed the task of getting their resumes up to date for their upcoming internship interviews. 12th and the first half of 13th December were broken up into industry wise sessions wherein industry representatives came and addressed the students. These representatives included alumni as well and their aim was to tell the students about the industries they came from, the job opportunities available to them, the job skills required

and career growth in the industry. The group sessions were followed by individual interactions with students who were particularly interested in the respective industries. The second half of 13th was dedicated to a fun evening of fun, food, music and informal interactions between students, alumni and faculty alike. The band Firaaq played some lovely numbers followed by performances by bands from the Gurgaon and Greater Noida campuses. Everyone enjoyed the lovely music and food and it was overall a very enjoyable evening and beautiful end to the meetup.

The Participants of the Ideation Challenge

‘Back to School’ at the Alumni Meetup Question and Answer Session between the Students

‘Firaaq’ Performing at the Alumni Meetup

International Updates EAIE (European Association for International Education)

International Students on Campus IILM welcomed the International students on a semester exchange from its partner universities – EM Normandie Business School, France , Management Center Innsbruck, Austria, Rotterdam Business School , The Netherlands, HZ University of Applied Sciences, The Netherlands, Linneaus University, Sweden , Hanze Gronigen University of Applied Sciences, The Netherlands, ESC Troyes, France.

The EAIE is the European center for expertise, networking and resources in the internationalization of higher education. It is a non-profit, member-led organization serving individuals actively involved in the internationalization of their institutions. The European Association for International Education (EAIE) hosted its 27th Annual Conference in Glasgow, Scotland, United Kingdom from September 14-18, 2015. The theme was “Wealth of Nations”, marking the significant transformations of the international education field. EAIE as a platform for collaboration, knowledge exchange and continuous professional development The conference was attended by 5000 representatives from Academicians, Deans and Directors across 90 countries. It provided an opportunity to network with Best Business Schools especially in Europe. This year the EAIE Conference was attended by our faculties Ms. Nidhi Piplani , Assistant Professor – Economics & Strategy & Ms. Anisha Rani , Lecturer- OB & HR. As an outcome of the conference, the following new partners have been added: Cologne Business School, Germany, HSBA Hamburg School of Business Administration, Germany; University de Jaen, Spain; University of Las Palmas de Gran Canaria ,Spain; Universidad Rey Juan Carlos, Spain; Istanbul Kultur University , Turkey; Northeastern Illinois University , USA; University of Mons, Belgium; ESCE International Business School, France and University of Applied Sciences Wiener Neustadt , Austria

Northeastern Illinois University, USA visits IILM India: International Short Term Programme The Spring season saw the arrival of the energetic participants from Northeastern Illinois University, USA on the 17th of March 2016. It was a delight to host the bunch of students on the campus premises for a duration of 7 days. The IILM International Short Term Program was conducted with a gamut of sessions revolving around Women Development and Child Welfare. The 7 day Program offered informative sessions on ‘India and its Heritage’, ‘Discussion on Influential Women in India’, ‘Demographics of Indian Women’, ‘Role played by IILM towards Women Empowerment’, ‘Role of Smile Foundation in India’, ‘Role of Private Sector towards Women Upliftment in India’, ‘Indian Women: Urban vs. Rural Perspective’ and concluded with a session on ‘Vision India 2020: For Women and Children’.

Asia-Pacific Association for International Education (APAIE) The Asia-Pacific Association for International Education hosted its 10th annual conference in March 2015. Higher education professionals from the region and beyond gathered for seminars and discussions over five days. The Conference looked at the challenges and opportunities for institutions inside and outside the region in view of this transformation. This conference was attended by our Faculty Ms. Nidhi Piplani, Assistant Professor Economics & Strategy and Ms. Anisha Rani, Lecturer OB & HR. It was great platform to network and develop new partnerships.As an outcome of the conference, the following new partners have been added: Boston University, USA, Washington University, USA; HEC University of Leige , Belgium; Université Du Québec A Montreal , Canada; Laurentian University, Canada and INSEEC , France.

While most of the sessions were conducted by IILM faculty members, few sessions were delivered by eminent speakers from the industry such as ‘Role of Indian Women in the IT Sector’ (by Ms. Sonal Gaur from Concentrix), Session on ‘Child Development Laws in India’ (by Capt. Indrani Singh from IndhaCraft) and ‘Steps taken by the Indian Government for promoting Women Entrepreneurs in India’ (by Ms. Saman Qureshi). To add to the interest of the sessions, the lectures were conducted in the lawns of the campus which brought in a different spark to the sessions. The International Short Term Program was highly appreciated by the participants and touted as an unforgettable and life changing experience that made an indelible impact.