Prabuddh June & July 2019 by IILM University, Greater Noida

June & July 2019

PRABUDDH Faculty Article - Pg 1-4 Book Review Pg 5-6 Elective Description Pg 7-10 Event of the Month 11-12 Life in the Campus Pg

13-

19 Alumni at Campus Pg -20 Global Study program Pg- 21 Student Article Pg 22-25 Faculty Corner Pg 26-30

16 Knowledge Park II

Greater Noida Ph. 0120-4029333

www.iilmgsm.ac.in

Faculty Article Brand Management in Fashion Industry

“Consumers today are buying into a lot

viewed from both the manufacturer’s and

more than just a commodity” quotes Marc

the consumer’s angle (acting as a rich

Beckman

source

(Co-founder

Designers

information).

Brands

are

Management Agency). Fashion is portrait

identification of distinctiveness and signs

of style statements, display of desires and

of quality. An effective brand management

dreams of consumers.Contemplating the

secures

looks and lifestyle that motivates your

henceforth

audience to swipe their cards is what

loyalty and growing financial returns.

FASHION is. Fashion is one of the highly

With the evolution in market and media,

visual fast paced industries where trends

branding is evolved to read the consumer

change every season. Henceforth the

mind and offer opportunities for self-

marketers and brand managers put in

expression and identity. When considering

substantial efforts to constantly reinvent

Fashion Industry in particular, Brand is the

and

personality of the product. Your product

renovate

their

strategies

communicate the brand message.

competitive ensures

advantage higher

and

customer

becomes your brand. For instance when someone buys a Van Heusen bag the

Brand Management in Fashion Industry

person is not just buying the bag; they are

has turned out as an important concern. It

buying the fashion lifestyle that Van

is the application of marketing techniques

Heusen delivers almost as much as the

to a specific product with an aim to

brand itself.

increase the product’s perceived value to the customer and thus increase the brand

The fashion trends have usually captured

equity. In the fashion business, the brands

audiences’ interest, but the phenomenon

have strong effect in altering the consumer

has never been as tangible as in present

psyche and providing opportunity for self-

times. Fashion Industry disseminates all

expression,

identity.

facets of the society and illustrates the era

Brands are one of the crucial components

we are residing in the best possible

realization

and

manner.

Brand managers

in fashion

management, and be unique and attractive

industry work very wisely in their

in idea.

branding approach in order to gain Fashion

attention and create favorable association

Brand

Management

also

focused on the concept of Brand Identity.

of the brand. Fashion market is very

What makes you you? The essence of this

competitive and dynamic.

question must not be lost. What makes Branding has tuned itself as per marketâ&#x20AC;&#x2122;s

Levis a Levis? What people think of when

priority, because thriving brands reach

they see a particular style, how they relate

higher prices and get over loyalty, and

themselves and their personalities to your

attract each consumers and financiers.

brand is essential. Fashion Managers thus

Marketers of fashion products in the 21st

dedicatedly work on forming the brand

century have to be incredibly effective in

Identity. Once the identity is formed,

strategic

which

question arises how to communicate the

assumes implementation of advertising

identity to the consumers. Along with

activities and programs to create brands, at

management of fashion brand, brand

the same time putting continuous effort to

communication in fashion industry is

increase its value. Brands and its value

essential to build a brand, rather most

must be regarded and recognized as

important aspect. A brand when portrayed

strategic capital.

in front of its audience symbolizes its

brand

management,

name, goodwill, the visual appeal created The successful mantra that many famous

for its good by tremendous efforts put in

fashion brands like Zara, Burberry have adopted

competitive

provide

advantage.

through varied teams

long-term

Along

including retailers, logistics, channels,

with

marketing and sales team to name a few.

research and development, brands are continuously

focusing

and personnel

Nevertheless, this suggests that it is very

customer-

essential to manage these contact points in

oriented approach and capacity to change

an integrated and focused way from all the

and adapt if anything new is in the market.

aspects be it supply channel management,

It becomes challenging in case of fashion,

advertising at physical or for that manner

because the time span to acquire the

online, inspecting word of mouth, taking

market and exist in it is shorter for fashion

care of the ethical guidelines set by the

brands in comparison to other brands like

organization.

cars, real estate etc. For a fashion brand to be successful and gaining an effective

Nowadays

with

share it is important to be communicated,

interactive

media

distributed, have effective contact point

marketplace, customers are empowered as

Internet

4.0

and

dominating

the

by no means before. They have access to a

In addition, brand management literature

globe of prescription; free of charge

of fashion brands has suggested that

guidance and first hand information

perceived quality and brand associations,

around the brands. They talk to peers. The

both components of the measurement of

instance can result in complete extinction

brand equity or brand strength, are often

of average brands, which cannot compete

investigated for their ability to influence

on positive word of mouth. Only those

brand loyalty. In the fashion market, even

which are capable of offering delightful

if creators wish to change after a while,

pleasure to its customer can survive in this

they cannot entirely forget about their

competitive marketplace in spite of the

brand contact, which helped them to get

staggeringly low rates or perhaps a

known initially, then recognized and

remarkable

eventually praised.

learning,

service

and

execution. Brand personality thus becomes Fashion has to change accordingly with

another important factor of concern for

the changing society and human. Branding

marketers. Retailers are extra powerful

needs to understand these changes for

than a lot of brands they distribute: those

being relevant.

brands that now don‘t act in this context

Branding is

relevant

because it’s about identity;it’s about how

will slowly deplete, brand managers thus

to shape the identity of the brand from the

should be altering their strategies from

roots of the brand. Considering, the brand

time to time to be effectively present in the

space and need to in no way overlook it.

person,

everything

today

personified, and everything today is Henceforth, the development of online

personal. Everything today is about the

networking

Twitter)

brand and me. It’s all about treating the

would support enthusiasm for verbal

consumer as a person and considering the

exchange and viral promoting among

personality of the brand. So they would

fashion brands. Word of mouth (WOM)

match like if they are a couple.

(e.g.,

Facebook,

relational correspondence about items Fashion is about human, society and

between shoppers – is a standout amongst the

most

persuasive

wellsprings

industry and the way these three factors

are matching. So if the society is

marketplace data for buyers. Brands view

changing; also the way of being is

popular bloggers as the new journalists

changing; the behaviors are changing,

and influencers. Once considered fashion-

Accordingly, also the industry.Traditional

obsessed amateurs, style bloggers have

marketing used to segment people. It

matured into fashion trendsetters and the

defined people according to some factors –

savvy marketers command four- and five-

income, religion, age and so on. It is no

figure fees from brands.

longer the case. The categories today are

design their brand by blending the

blurred and thus there is chaos. Creators of

traditional with the digital.

fashion thus have to very strategically Prof. Ridhima Bhanot Sharma

BOOK REVIEW invigorates growth. The author has condensed the various practical issues of corporate governance in the form of his book. As a member of various boards himself at various points in time, the author could probably see the apathetic approach of the members of the boardroom. He has elaborated in this context as to which of the boardroom practices will strengthen good corporate governance. This indeed is a unique contribution of this compelling book. The book consists of 17 chapters and 5 case studies. The book begins with an account of how a nomadic economy metamorphosed ﬁrst into the industrial economy and then to the capital market economy. The author opines that the joint stock company is one of the important developments of the era, and that these companies have the obligation to create, manage and share wealth. The book addresses the causes and effects of weak corporate governance. Through examples and case studies, the author enumerates the losses caused to all the stakeholders due to greed, hubris and delinquencies of corporate managers. Losses may be wealth loss for the capital providers, job loss for employees, business loss for the suppliers and reputation loss for the ﬁrm itself. Further, the author opines that weak corporate governance leads to the fantasy of invulnerability, stereotype vision, cursory assessment, collective rationalisation for failures, and misconception of unanimity.

The Essential Book of Corporate Governance

Author: GN Bajpai Publisher: Sage Publications India Pvt. Ltd. Pages: 335 ISBN: 978-93-859-8521-8 (PB) GN Bajpai has served as the Chairman of Securities & Exchange Board of India (SEBI). He was also the chairman of Life Insurance Corporation of India (LIC) and has been a board member at ICICI Bank, Unit Trust of India, Tata Chemicals, Jindal Steel, among others. This book is the reflection of his huge ocean of experience in the Corporate Governance domain. “The Essential Book of Corporate Governance” is a well written, concise book which encompasses the major concerns of corporate governance. The book elucidates the false notion of corporate governance as “tyranny” by the market and the government on enterprise managers. The purpose of the book is to corroborate the unambiguous beneﬁts of corporate governance and suggest actions for corporate managers so that the perceived “tyrannical” corporate governance manifests itself as “beneﬁcial” and

G.N.Bajpai discusses various mechanisms that enhance the quality of corporate governance. Firstly, the author endorses unbiased, factual, timely accounting and 5

financial reporting of transactions. Secondly, the author suggests that corporate managers need to resort to related party transactions (RPTs) only if there is no other genuine alternative left and only after board approval. Thirdly, the author advocates there organizing and standardization of board room practices along with concomitant enhancement of quality/ quantity of disclosure. Fourth, G.N. Bajpai emphasises that good corporate governance is the outcome of a good ecosystem. An ecosystem where divergent views are respected, where democracy prevails, codes of conduct are designed, communicated, implemented and monitored effectively, integrity, equity and fairness exist and are reinforced from time to time, will enable good corporate governance. Fifth, the author believes that vigilance is one of the most effective tools in managing and correcting weak corporate governance. The monitoring has to be pervasive throughout the firm right from the individuals, departments, internal and external auditors, audit committee (including other board committees) and finally the board. An effective whistle blower policy plays a critical role here.

Value Added) and the MVA (Market Value Added) method. G.N.Bajpai’s book is immensely valuable to students, academicians and practitioners. The author has addressed a gamut of issues in corporate governance in a very lucid way, and with vivid examples from his experiences. Prof. Shikha Shrivastav

A major portion of the book is dedicated to boardroom practices. The author emphasises the various aspects in designing and circulation of the agenda before the board meeting as well as on spending adequate time on quality of discussions. G.N. Bajpai advocates the “Action Taken Report” to be submitted in the subsequent board meeting which will enable keeping the affairs of the company tractable. G.N. Bajpai talks of monitoring the status of corporate governance through the EVA (Economic 6

Electives Description Marketing Concept in Digital World space, this age is also termed by many as an API (Application Program Interface) economy. So, as the saying goes, Data is the new oil enabling brands to be responsive to their audience on real-time, with highly relevant message on the right platform to create a contextual experienceright content to the right person at the right place and at the right moment!

Module Introduction: From a marketing perspective, consumers now have louder voices than they used to have, they are more socially connected than they ever have been, they expect more from brands, and information reaches them faster than ever before. In light of these fundamental changes, the overarching goal of this course is to help you get a clear perspective on what’s really going on in marketing in the age of social/digital /mobile so that you can start to see where the true value—to consumers, to marketers, and to other corporate stakeholders—lies. The marketing and business worlds have gone through fundamental changes in the ways that consumers interact with brands, learn about companies; purchase products and services or leasing a consumer product. Social media has helped give consumers a voice, connected them with their friends and other like-minded consumers, and has given them considerable power over marketers and brands. If digital technology led disruption is behind this, what took the worst hit is customer loyalty- a steady erosion of customer base, which Gartner terms as an onset of switching economy! The shift in consumer expectation has made it increasingly difficult for brands to keep up and stay relevant. The ‘one size fits all’ marketing approach no longer works. Today’s customers use multiple devices, multiple operating systems and they expect a seamless experience with your brand across all platforms. According to a recent study by comScore, 52 percent of the average consumer’s time is spent using digital media, 60 percent on mobile devices and 40% on desktops. Apps account for 7 out of every 8 minutes of media consumption, with smartphones being responsible for 88 percent of usage. With billions of internet of things or smart devices getting connected to our digital

Learning Objectives/ Course Outcomes: This course will provide a good understanding of the business rationale for digital marketing and Social Media, and their potential value to consumers/ the marketing function/ companies/ and to society at large. The course outcome would be through enhanced learning and hand-on experience on Digital Marketing and its application in different business functions (HR, Marketing, Finance, etc.). The participants would be able to develop a good understanding on how to leverage internet to activate wining marketing programs integrating traditional marketing with new age platform driven marketing.  Help students to understand the changes technology bring in traditional marketing.  Help students to develop ability about e-business execution and functioning.  Offer useful frameworks for dissecting the elements of value creation and the processes for developing and maintaining customer relationships in the “borderless” economy, and to use these frameworks to identify and exploit market opportunities.  Help students to critically evaluate a Digital-Marketing problem and develop strategic and operational plans appropriate for that problem.  Expose students to some important developments on the horizon that 7

represent the future of DigitalMarketing and Social-Media.  Expose students to the essential vocabulary they need to meaningfully discuss current developments in Digital-Marketing and Social-Media. Job opportunities: There are a wide range of digital marketing job opportunities out there for a huge variety of career options.  Video/audio production  Interactive technology (such as AI)  Mobile marketing  Search engine optimization (SEO)  Search engine marketing (SEM)  Social media  E-commerce  Email marketing  Marketing automation  Content management and curation  Web development  Web design  Copywriting and editing  Analytics  Business/marketing strategy Potential Recruiters Every company today either has an inhouse or outsource their digital marketing jobs. Advertising the digital way isn’t a choice but the need of the century, given the buying population are either internet immigrants or netizens. The potential recruiters in India for the year 2019 are:  Webchutney  ShoutnHike  WatConsult  FoxyMoron  Gozoop  EveryMedia  Social Wavelength  Phonethics  Blogworks  Adsyndicate

focus on digital elements is now at the centre of many companies' marketing strategies. The job profile includes:          

Digital Marketing Manager. Content Strategist. Virtual Reality Developer. SEO and SEM Specialist. User Experience Designer. Data Analysts. Email Marketing Specialist. Internet of Things Marketing Specialist. Bot Developer and AI specialist Social Media Marketer Prof. Shruti Choudhary

Job Profiles As computers, smartphones, and other Internet-capable devices become increasingly popular, so do the number of jobs requiring digital marketing skills. A 8

Financial Planning and Wealth Management issues, managing savings and other liquid accounts, the use of credit, consumer

Module Introduction: Cambridge dictionary defined ‘Wealth’ as a ‘large amount of money or valuable possessions that someone has’. Although it is not the creation or accumulation of wealth which brings financial well-being rather it is adequate planning and management leads to satisfaction and consequently to the financial well-being for an individual. Adequate financial planning and management of wealth is the key for successful attainment of future goals. No matter, how much wealth one have accumulated but if it not judiciously planned to meet short term, mid-term as well as long term needs one can never achieve financial satisfaction in life. Financial planning and Wealth Management is the need of the time than before as unlike our parents we are living in different era; shifting from joint family to nuclear families, rising inflation, rising cost of education, burgeoning medical expenses, etc.

loans, securing yourself and your wealth by proper insurance planning, risk profiling and choosing for suitable investment assets class, retirement planning, estate planning etc. This course also introduces various new investment avenues coming up in near future to invest in like forestry investment, teak plantation and impact rhino bonds. It will also discuss crypto currency and REIT funds as an investment avenue for high net worth individuals. This course also introduces reverse mortgage as an instrument for retirement planning. This course is oriented towards practical knowledge that is necessary for financial decision making in everyday life. One needs to begin the financial planning process and continue it as best as possible, with or without professional assistance. This course is designed to help students to do both—that is, as a do-ityourself planner, as many individuals are inclined to be (either by conscious decision or by default of circumstances), or by becoming an educated consumer when seeking the help of a financial planner.

Financial planning and wealth management course is the combination of two; financial planning and wealth management. At one side where financial planning is inclined towards management of finances for middle-income individuals on the other side wealth management is linked with the management of funds for wealthy or high net worth individuals. Needs for both the classes are entirely different. This course provides a perfect mix of the skill set required to fit in both the roles as financial planner or as a wealth manager. The course will provide the student with an introduction to the various concepts associated with financial planning & wealth management such as the principles of accumulating, managing and protecting wealth. Broad coverage of the course are personal financial decisions, including basic financial planning, financial literacy, individual income tax

Course Outcome: The objective of the course is to equip students with the knowledge and skills to make wise, lifelong financial decisions. This course will provide the student with an introduction to the various concepts associated with financial planning & wealth management. broad coverage of investment principles, investment strategies, investment tools, personal financial decisions, including basic financial planning, financial literacy, individual income tax issues, managing savings and other liquid accounts, the use of credit, consumer loans, insurance 9

planning, assets classes, retirement planning, estate planning etc. The course is oriented towards practical knowledge that is necessary for financial decision making in everyday life. After completion of this course, students will be able to develop a financial plan that provides a clear direction for future by tracking their living expenses with improved management and prepare a budget. Additionally, one would be able to plan ones financial independence at the time of retirement and would develop a basic understanding of estate planning

American Express Banking Corporation, Amatya Investments, Ameriprise, Ampripri Finance, Edelweiss Stock Broking Limited, Aviva Life Insurance, Anand Rathi, Axis Bank, Bajaj Allianz, Bajaj Capital, Bajaj Finance Limited, Barclays Bank, Bharti Axa Life Insurance, Birla Sun Life Mutual Fund, HDFC Asset Management Company Limited, ICICI Securities, India Bulls, Kotak Securities Ltd, etc.

Prof. Kumar Saurabh

Job Opportunities From wealth managers to tax consultant to journalist to investment advisors, this area has enough job opportunities for all. At the start of oneâ&#x20AC;&#x2122;s career, a financial planner can work with a wealth management firms, HNI, tax consultancy, insurance product distributors, pension funds, financial services firm, banks and financial institutions offering financial products. Opportunities in the field of REIT are untapped. Financial planners are in much demand for brokerage firms for profile of research analysts, research associates, etc. Banks also require qualified financial planners to manage their investment advisory division and investment relationship divisions. NBFCs and AMCs also recruit financial planners for various positions. Students with good interpersonal skills and entrepreneurial mindset can also opt for self-employment. Job Profiles Financial Planner, Wealth Manager, Relationship Manager, Tax Consultant, Investment Advisor Companies on Campus: Few of the companies that visit on campus for placements are: Aadi Wealth Management, Activitas Management Advisors, Aditya Birla Wealth Management,

Event of the Month Orientation 2019 PGDM Batch 2019-2021 The orientation program is an opportunity for any student to learn, to navigate their new campus and is used to build a network of resources that will help students and their parents to start their journey in better manner on the right path.

but the attitude that caused success. One third of what constitutes a person is his genetic inheritance; another one third comes from the kind of upbringing he /she receives and the remaining one third from one’s own self. He also stressed the importance of dedication to one’s profession and the need to have proper planning before taking up and implementing any project. In his address to the students and parents, Mr. Umesh Dhal emphasized that the country’s growth in the world of stringent competition will depend on the sincerity of purpose and general transformation in all spheres of industry and inclusive growth, which will lead to sustainability. A vote of thanks was proposed by the Registrar – Maj. Sunita Joshi.

IILM Graduate School of Management organized an orientation programme for the newly admitted PGDM students at the institute premises on 2nd July 2019. The major objective of the programme was to make the parents and students aware of the academic aspects of the course, the rules and regulations of the Institute and ensuring parental participation in monitoring the performance and progress of the students. The programme was inaugurated with the lighting of the lamp by the Chief Guest, Dr. Shankar Goenka, MD, WOW Factors India Ltd and Guest of Honor, Mr Umesh Dhul, Global Head, LG, Sr. Director and Director. Gen. B.D. Wadwa, Sr. Director IILM Graduate School of Management welcomed and congratulated the students for their acceptance to the IILM GSM Campus. He introduced them with the institute and the achievements and mile stones achieved with constant pursuance of excellence. Dr. Goenka, while delivering a speech on the occasion, said that it was not the events

All faculty members introduced themselves to the students regarding their specialization and areas of interest. Dr. Sandhya Rai, Dean Academics gave necessary information about the academic design of the first year Course and Institute rules and regulations regarding academic matters. She also briefed the students about the rules and regulations of the institute and requested the students and parents to understand and abide by the institutional rules.

Life at Campus Crossing Over: 6th April, 2019

understood the expectations and aspirations of the students of new batch and addressed most of their concern satisfactorily. From job search tips and professional networking to mentorship, they provided information not only about the world of work, but also about how their time as students prepared them for their career paths. The alumni shared insights of actual working situations that they face. Some of the alumni shared about the prospects of new jobs and career growth in research profile. Alumni from Sales & Marketing background advised the students to brush up the key concepts and their skills from the point of view of interview. They mentioned that companies are making huge investment in on the job training and in due course with the right attitude and hard work students must focus on learning and developing skills for employment. Students aspiring for HR jobs are required to develop people management skills. Some alumni advised the students to develop problem solving approach while they are still studying as it is a desired skill.

On 6th of July, 2019, one session was scheduled at the campus to interact with alumni to understand future challenges and to develop strategies to overcome challenges. The session invited many talented alumni from various industries with diverse job profiles. The students got a chance to interact with the alumni on a one to one basis in different groups Prashant Bajpayee, Manager, HR, DIC India Ltd, Ashish Sharma, Manager, Deloitte, Srijan Das, Associate Project Lead, Grail Research, Ms. Mitali Singh,Chrom Data Analytics & Media, Ms. Charu Goyal, Management Trainee, working with Publicis India Punyaslok Parida, Sr Mentor, Byju’s, Firdaus Alam, Associate Consultant, deloitte, Gulistan Alam, Associate Consultant, Deloitte, Arpit Gupta, Strategic Account Executive, Risk Management Solutions, Joseph Abbey, Sr. Manager, Reseach, Consocia Advisory, Prashant Dass, Ast Manager, Paid Media, Performics Resultrix, Prateek Singh, Manager, Partnership & Alliances, POSist, Rahul Keshri, Analyst, India Ratings & Reseach & Sanjula Ahuja, Ast Manager, Mundhare visited the campus on 6th July, 2019 for the session “ Crossing Over”

The inputs given by the alumni during the discussion were highly realistic, informative and inspirational. The entire session at the institute lasted for two hours and was extremely interactive. The alumni shared their contact number and students were excited, encouraged and determined to work on the points.

Students raised various questions regarding career in Sales, HR, Finance, Banking, Opeartion and research profile. The alumni

Through, discussions, video and situational analysis, skill based exercise and ice breaking session, students were able to build a foundation of character by focusing on managing themselves and taking initiatives. The workshop focused on assuming full responsibility for the result, prioritizing goals, collaborating with the team by building trust, communicating effectively and integrating continuous improvement and learning. It was an intensive and practical oriented workshop based on the principles of inspirational leadership. During the session, participants were made aware of what stands in the way of effective communication and focusing on key goals to get the best possible results. At the end of the session, students were able to learn how to execute critical priorities with careful planning, how to increase team engagement, morale and collaboration.

Workshop: 7 Habits of Highly effective people: On 8th and 10th of July IILM organized a workshop â&#x20AC;&#x153;7 Habits of Highly effective peopleâ&#x20AC;? for the first year students. The workshop was conducted in two different groups and the objective of the workshop was to understand the habits of highly effective people and to develop the required skill set to be effective manager. Dr. Maninder Singh Khalsa, Trainer & Coach, Threefish Consulting conducted the session. Dr Singh has over 25 years of experience in Human Resources and leadership, Organisational Development and Business Operation. The session was largely experiential, providing the students opportunity to develop skills by participating in interactive exercises.

was based on experiential learnings. In addition, he also shared the kind of job opportunities available for budding managers. He complimented students for making till Professional education, as many people don't even reach this level, then he extended the discussion to entrepreneurial opportunity in present scenario. Students had an enriching and enlighting session. Overall, it was well taken by learners and generated interested among audience.

Preface to Union Budget & Screening to Union Budget Screening of Union Budget 2019-20 held during orientation program of first year students. The activity was conducted in two phases; first phase of the activity was held on the day of Union Budget, 2019 i.e. July 5, prior to the presentation of budget in parliament while the second phase was held on the next day of the budget presentation, i.e., on July 6. In first phase of event, key points of Economic Survey, expectations from Union budget based on the Economic Survey, present global economic scenario and agenda of NDA government were discussed along with need and importance of Budget followed by screening of Union Budget. In the second phase, highlights of Budget and its impact on economy, on various industries and on individuals were discussed. The event was conducted by Prof. Raju Majumdar, Dr. Kumar Saurabh and CA Asmita Chakraborty.

Future of Jobs On 3rd July, Maj Ajay Randhawa, Sr Vice President & Group Head with Sterlite Power spoke on a subject which is very close to the hearts of the students. He, in a very interactive session dispelled the fears of impending disruptions in the job market due to the new technology. He urged the students to constantly upgrade themselves so as not to be left behind. Going for Your Dreams On 5th July, Mr Gaurav Pal, MD Intelivisto narrated his own life story wherein inspite of assumedly insurmountable obstacles he never wavered from pursuing his dreams. A young boy with a speech defect strove to overcome his disability and is now frequent speaker at large gatherings of eminent people. He did not let his poverty come in his way of becoming a consultant to world renowned MNCs seeking to enter the Indian market.

Getting ready for corporate world On 4th and 5th July, new batch PGDM 19-21, was prepared on their future roles as professional by industry experts. One of the session, was taken by Mr Anil Pokhriyal, CEO, MEPSC. Col. Pokhriyal has a diverse professional experience of more than two decades across two continents in the fields of Project Management and he blended successfully it in the Corporate Sector working towards Skill Development in Construction Industry. He helped students to understand the entire eco-system of industry institute interface in our country. His session

Stretching Your Limits

On 8th July, first weekend in the campus students were given a field activity named "Rs 50 challenge". Students were divided into a group 5-7. The objective of activity to learn risks and rewards involved in entrepreneurship, apply right set of skills to generate profits, explore the different functional domains of management and experiment with your entrepreneurial mindset. There were total 28 groups. Each group conducted the activity on the first sunday in campus as well as outside the campus. Each member invested Rs 50 in idea, developed a business model, execute it and generated profits. Every group made profit. However, one group made profit of Rs 1930/- by selling lemonade in Ansal mall and Metro station, the group members were Manika, Rishabh, Pankhi, Vishu, Shagun and Siddharth. Duration of activity was 24hrs. On completion, each presented their idea and selling strategies to a panel of faculty. Faculty panel includes Dr Shikha Bhardwaj, Prof. Raju Mazumdar, Prof. Anirudh and Prof. Saurav Sanyal. The activity was an experiential learning experience students and very satisfying.

Maj Vinod Krishna, MD KRIS Learnings in his talk highlighted the essential requirement for success ‘Moving out of Comfort Zone’. He narrated the story of Capt Saurabh Kalia who as young officer led his men in the Kargil war and related his deeds on the battlefield to the topic of the day. The students in an outdoor session practiced some of the Army physical training exercises and realised the true meaning of ‘Nothing is Impossible’. The session was well supported by the Forces people on the campus.

Mindfulness for goal Orientation & Success During the orientation program, a session on Mindfulness for Goal Orientation & Success was conducted by Prof (Dr) Abha Singh, Professor of Psychology & Behavioural Sciences and Director, IILM Center for Emotional Intelligence on 9th July, 2019 for one group of students and on 11thJuly, 2019 for the second group. A pre-workshop worksheet was shared with the students in order to give them the brief about the session and to know their expectations from the session.

Rs. 50 Challenge 17

The session began with the Chanting of “Om” by all students and faculty members present. Prof. Singh, then, explained the need for Mindfulness in the present scenario and differentiated the concept of Mind full and Mindful. Under her guidance, the students performed an activity on Mindful eating. Further, she explained to the students about how Mindfulness is a type of Meditation. The later session was focused on Mindfulness for Self awareness and the interrelationship between the two. The importance of Mindfulness in the Corporate World was also discussed by taking examples from some major companies. In the end, the role of Mindfulness in Goal Setting and Success was discussed. Students were given tips to enhance mindfulness in their daily life. She ended the session by stating that “Mindfulness for Success is 20% Strategy and 80% Mindset”.

Rishabh Kumar, Girish Sharda, Manish Kumar Singh, V Gouri Sai Krishna, Nitin Ahuja, Mohit Saini, Tamanna Varshney, Virat Chikara, Shalini Rawat, Reetika and Prabhjeet Handa.

Inter Section Kho Kho Tournament – 22 Jul 2019 Inter section Kho Kho tournament was organized for the students of IILM GSM on 22 Jul 2019. Students of four sections of First Year PGDM batch 2019-21 took part in the tournament as teams A, B, C and D. The students displayed good sportsmanship and team spirit and participated with enthusiasm. The Final was held between team B and C and was won by Team C. The students who were part of the winning team were Sanjaya Kumar Satpathy, Ekansh Kochar, Sukhbeer Singh, Tanmay Sahu,

OUTBOUND TRAINING

Adventure remains one amongst the most essential elements of life, especially for young adults like the students pursuing management studies. Adventure, when done under supervision incubates real-life management skills and knowledge on the go.

management: planning, organising, staffing and training the group members for optimal results

IILM Graduate school of management had conducted outbound training for its firstyear management students between 8th to 11th July 2019 in two groups of 80 and 120 students to Jim Corbett. The main objective of the training was to inculcate the spirit of teamwork, accidental leadership, innovation, critical thinking and strategizing. Activities like woodblock tower taught the students on team coordination while the paper bridge built the concepts of critical thinking and optimum utilisation of resources. Walking on the sticks, which was one amongst the toughest activity physically highlighted on how to work under stress and pressure and yet maintain calm and balance in life. Activities like a blindfold star where leaders were chosen to guide the rest of the team was a trust-building activity. The activity got students to understand how important trust is, in any functional domain of a company is. Water sponge bucket an activity that pushed team members to work in coordination with effective time management. Lego block activity got the students to think innovatively. Every training and activity got the students to learn hard and soft skills in management and corporate world. All these tasks made the students learn about the basics of 19

Alumni at Campus On 2nd July, there was a session â&#x20AC;&#x153;In Conversation with Alumniâ&#x20AC;? from 3.30 to 5.30 PM to make the students meet and interact with the alumni. Anupam Dybey, Assistant Manager, Paytm, Sajib Dhar, Account Manager, Radio Mirchi, and Vivek Sharma, Sr Executive (Sales), 99 acres had come for the session. All of them shared their experiences including the majors they had taken, about their internships, and their present jobs with details of roles and responsibilities. This was a purposeful conversation which helps the present batch to learn about a field of work, employers that interest them and various career paths. Anupam shared his experience on how he chose his job profile and how he grew with different challenges he met working with Paytm. He guided the students on how to develop their interest. Mr. Sajib mentioned how his hobbies and strength kept him motivated in his job profile. Mr. Vivek shared his learning from his failures and mentioned that every failure is a good opportunity to grow. During the session, they mentioned many anecdotes from their time in the institute and their experience at their workplaces. The wisdom and experience shared by the alumni help the students identify and understand different skills to choose a career goal.

GLOBAL STUDY PROGRAM IILM is cognizant that the students have

40 students are attending the Global

varied interests and would like to develop

Study Program at Lapland University of

their cognitive flexibility in a rapidly

Applied

changing world. To give the students a

Kemi-Tornio

focused experiential learning and exposure

Sciences

in world business environments, IILM

Rovaniemi University of Applied Sciences

offers the Global Study Program for

was established in 1996. Together with the

duration of 3 weeks in one or more of

University of Lapland, they were and the

these

new

areas

our

curriculum

Sciences,

was

Lapland

Tornio,

University

established

University

Finland. Applied in

1992.

Applied

Entrepreneurship & Innovation, Financial

Sciences is part of the Lapland University

Management,

Consortium.

Cross

Strategic

Cultural

Management,

Project

The students are being exposed to the

Resource

courses in the area of Innovation and

Management, Marketing & Sales and

Digital Marketing. They will also attend

Operations

session on cross culture values and

Management,

Human

The primary objective is to expose the students and enhance their understanding of

the

working

international

dynamics

market.

The

secondary

systems. Besides, this the University has arranged two industry visits a)

Benchmarking

Bittium Ltd

objective is for groups of students to travel

The University has also arranged a country

and explore another part of the world

tour for the students

together by appreciate other cultures and strengthening

cross-cultural

communication. This year 80 students of PGDM batch 1820 is attending Global Study Programme at two Universities. 1) Lapland University of Applied Sciences, Tornio, Finland.

ISM University, Munich, Germany. 40 students shall leave for ISM Campus in Munich, Germany on 11th August, 2019. Munich is one of Germanyâ&#x20AC;&#x2122;s largest university

cities

and

economic

powerhouse. Besides its characteristic classical architecture, the city also boasts the worldâ&#x20AC;&#x2122;s biggest beer garden tradition and is home to the famous German Oktoberfest. The students shall attend courses in the area

Operations

and

Strategic

Management. Besides, students shall attend cultural and social activities to. They will visit two well-known companies a)

Amazon

BMW

Student Article Are Women the New Consumers? The inherent differences between men and women have been a subject for both psychology and marketing. Women have long been considered minorities and on the periphery of society, with men being considered the major decision maker in the household. This was significantly due to the fact that men earned money in the household. Marketers have recently started realising that there is a huge untapped market of women consumers, which is huge in size. With the changing times, women are now not just running their houses but also sometimes, are the sole decision makers. This is a lucrative segment and thus, the marketing approach is being tailored specifically for this segment of buyers. In many countries, the women in the family act as the chief monetary decision maker. Even in the context of India, where women are still considered the second sex, women have started voicing their opinion when it comes to specific products and services. This is also due to the fact that a section of women have now started working and have the interest and patience to go through the merits, utilities, price of different products. Many products, services and advertising campaigns have been developed specifically for women. Rena Bartos in her book, Marketing to Women Around the World says that the world of women move around balancing family and work and thus, they are better at managing things by multitasking. Thus, when it comes to shopping, women are holistic shoppers.

The fact that they experience more touch points in their spiral path-to-purchase means that they are exposed to more factors for consideration. They are more likely to consider everything- functional benefits, emotional benefits, prices, and the like â&#x20AC;&#x201C;before determining the true value of products and services. For certain household categories, women consider productsâ&#x20AC;&#x2122; value not only to themselves but to the entire family. Women also consider and browse for more brands, including less popular brands that they believe might add some value. Because of this, women are more confident of their choice when they finally buy. Thus, they are more loyal and more likely to recommend the brand to their community. In action, women consumers go through three- step process before buying a product: collecting information, doing research and reassessing the available information. Women spent hours in shops and online knowing about a particular brand and product â&#x20AC;&#x201C; reviewing quality and comparing prices, unlike men who basically follow a straightforward method while buying a product. While men just want to get things done as quickly as possible, women want the perfect product and the perfect service. A Pew Research Centre report in 2008 revealed that in 41% US households, women were the ones calling the shots, whereas in only 26% households men were more dominant (in the remainder of the households they equally split decision making). In Indonesia, the picture is even more striking. Based on a survey by

MarkPlus Insight in 2015, about 74% of Indonesian women managed all the family finances –controlling even the income of their spouses, although only 51% of them were working. It turns out that that the role that women play at home is spreading to the workplace. In 2013, the US Bureau of Labor Statistics reported that women account for 41% of the employees who have the authority to make purchasing decisions for their employers in the US. In case of India, there was a significant change in homes as a result of “the new emerging Indian woman”. In India, the increasing number of working women is not driving change as much as the increasing number of housewives who have acquired the ‘working woman’ mindset. The influence of women at home and at work is growing. As information collectors, holistic shoppers, and household managers, women are the key to win market share in the digital economy. To access even bigger markets, brands will need to get past women’s comprehensive decision-making process. Source: 1. Marketing 4.0: Moving From Traditional to Digital (Philip Kotler, Hermawan Kartajaya, Iwan Setiawan) 2. We Are Like That Only: Understanding the Logic of Consumer India (Rama Bijapurkar)

Ms. Medha Ghosh PGDM Batch 2019-21

Student Article Positive Attitude You have probably heard the following words many times, “you should have a positive attitude…” Have wondered what is the meaning of these words? Have you wondered why positive attitude matters? When people think of having a positive attitude, they probably think it’s little more than plastering a smile on their face and trying to think happy thoughts. But it’s more than that. A positive attitude is something that goes deeper and has an effect beyond surface cheer. Negative attitudes promote fear, and a narrowing of focus and the mind, while positive attitudes do the opposite. No one should live in a constant state of “fight or flight”, but negative attitudes create exactly that scenario. Positive attitude is a state of mind that envisions and expects favorable result or the willingness to try doing new things. It is a mindset that uses the words, “I can”, and “it is possible. Positive attitude is basic to joy, bliss, and advancement throughout everyday life. This perspective brings light, expectation and eagerness into the life of the individuals who have it. Adopting it in your life does not mean that everything will always move smoothly and there will be no bumps on the road. However, it ensures that any setback you might encounter will not stop you or change your state of mind, and that you will go on, try again, and do your best despite any setback. Positive people are easily approachable and more likeable than someone who is constantly looking at the negative side of things. In terms of networking opportunities, you are more likely to meet uplifting and beneficial individuals if you have a winning attitude and positive presence about you. A positive person is

open to expanding their social circle to open the door to great opportunities. A negative attitude in the workplace creates an atmosphere of distrust among employees and causes employees to attempt to achieve success at the expense of each other. On the other hand, in a workplace with a positive attitude, competition is seen as a motivator that inspires employees to perform at their best to improve productivity, and encourages creativity so they feel that their ideas will contribute to the success of the organization. If you go into an interview with a negative outlook, you’re more likely to underperform and fail to accurately represent yourself. Keep your head high and maintain a positive outlook on the job process and you’ll be even more prepared to nail that interview. A positive attitude will help you shake the nerves and leave you relaxed and easy to talk to. Employers are looking for employees who will not only contribute good work, but also illuminate an uplifting energy to coworkers in the office. It's always easier to follow someone with a positive outlook. Then a negative one. It's easy to overlook the subtle everyday chemistry that constitutes effective management. How often we forget the simple truth that successful management has nothing to do with individual brilliance or performance but everything to do with accomplishing work through others. And getting your people to want to do their best for you -- day after day, month after month, and year after year. Toward this end the everyday cast of your personality - your attitude, your optimism, your general mindset -- is invariably a managerial difference maker. People are drawn to positivity. No one wants to take a long ride on a downbound train.

Winston Churchill said, “If you’re going through hell, keep going.” Everyone deals with setbacks at some point in their life, but it’s important to keep your eyes on the prize and keep trucking. Hard work, high energy and a positive outlook will guide you towards great success, despite the challenges you meet along the way. So when you hit that brick wall whilst trying to maintain a positive attitude, remember you are the one with the power. You can decide to live a positive life, see the good in any situation, and work to resolve conflict in a reasonable and stress-free way. So don’t sweat the small stuff. Remember to keep your chin up, smile as much as you can, and remind yourself that life is only as good as you make it. Share on Facebook- Share on Twitter "Keep your thoughts positive because your thoughts become your words. Keep your words positive because your words become your behavior. Keep your behavior positive because your behavior becomes your habits. Keep your habits positive because your habits become your values. Keep your values positive because your values become your destiny." Mahatma Gandhi. The quote has real relevance for management. Because a consistently positive mindset is one of the most indispensable long-term assets a manager will ever have. Mr. Siddharth Mehrotra PGDM batch 2019-21

Faculty Corner

Dr. Anindita Professor - Business Communication. Dr. Anindita is a Professor of Business Communication. She has over 20 years of experience in teaching and research. She holds two Master Degrees, one is in English Literature and other is in Business Administration with specialization in Finance and holds a PhD degree in English Literature. She has published 3 books and more than 25 Articles / Research Papers / Case Studies in acclaimed journals at National and International level. Dr Anindita is a certified trainer in Communication skills. She has conducted various trainings in this area. Her recent research interest area is to Study the gap between the job and job-fit people due to English Communication in India and how Training in the required area can bridge the gap’ Dr. Ridhima Bhanot Sharma Assistant Professor –Marketing Dr. RidhimaBhanot Sharma is an Assistant Professor Of Marketing at IILM, Graduate School of Management, Greater Noida. Her teaching and research interest are in the area of Marketing, Social Media, Digital marketing, Online Consumer Behaviour, and Social Influence. She has completed her Ph.D. from Amity University, Uttar Pradesh in 2018. Her thesis title is “Impact of Interactive Media Contact Points on Brand Equity: An Empirical study on selected Fashion Brands”.

Mr. Sumanjit Dass Assistant Professor- Marketing Sumanjit Dass is working with us as Asst. Professor: Marketing. An electronics engineer with an MBA from ICFAI Business School. Additionally, he pursuing my PhD from ICFAI University (submitted May2019) and his papers are published with ABDC journals. His last assignment was with IMT, Ghaziabad. As a digital marketing educator he believes brands are best created, experienced and anyalzed through digital media as data today is the new oil. He has a rich corporate experience of 12 years in the domain of marketing, branding and sales at senior level positions in financial services with the likes of Kotak, Religare and DHFL.

Dr. Madhulika Jha Professor â&#x20AC;&#x201C; Communications Dr. Jha is a PhD, M.A (English) and B.Ed from Bhagalpur University. She holds an enriching 35 years of experience in Academia with specialization in Linguistics and Language Teaching. She has published several books in English Literature & Business Communication. Her last assignment was with Bhagalpur University as a Professor.

Dr. Suman Kumar Professor â&#x20AC;&#x201C; Marketing Dr. Suman Kumar is a Ph.D in Management, MMS in Marketing and BSc. Engineering from Bihar University. He holds an enriching 20 years of experience. His areas of Academic Research are Business Research Methods, Statistics for Management, Sales Management, Consumer Behavior and Investment Management. His last assignment was with Bajaj Allianz Life Insurance as Regional Head. Dr. Anjali Jindal Assistant Professor-HR Dr. Anjali Jindal is a Ph.D (HR & OB) from IIT, Roorkee and MBA (Finance & HR) from UP Tech. University. She holds an enriching 5 years of experience in Academia. Her areas of Academic Research and Teaching are Organizational Behaviour, Human Resource Management, Strategic HRM, Organisational Development, Financial & Management Accounting and Financial Management. Her achievements include Senior Research Fellowship, University Grant Commission.

Dr. Jitender Bhandari Professor â&#x20AC;&#x201C; Economics Dr. Bhandari is a Ph.D in Economics from Kumaun University, UGC-NET (Economics) and M.A in Economics from Kumaun University. He holds an enriching 15 years of experience in Academia. He has more than 15 years of teaching and research experience in leading academic institution in India. Prior to joining IILM-GSM, he was with Asia-Pacific Institute of Management (AIM), New Delhi as Associate Professor- Economics/International Business.He had also worked with EMPI Business School, New Delhi, Ansal University, Gurugram and FORE School of Management, New Delhi (Visiting Faculty). 28

Mrs. Asmita Chakraborty Assistant Professor- Finance Mrs. Chakraborty is a Chartered Accountant, M.Com. and NET qualified, having 8.5 years of corporate experience in audit & assurance.She has worked with Big 4 audit firms like PwC and EY. She audited various clients like Tata Steel Ltd, East India group of hotels, Xerox, Samsung, Nike, Fast track etc. Her research interests are in accounting and earnings management and teaching interests lie in financial accounting, management accounting, taxation and financial statement analysis. Dr. Kumar Saurabh Assistant Professor- Finance Dr. Saurabh is a Ph.D in Finance, MBA in Finance and B. Tech from UP Technical University. He holds an enriching 7.5 years of experience in Corporate and Academia. His areas of Academic Research and Teaching are Finance and Management. His last assignment was with Amity University as Asst. Professor.

Dr. Vikas Bhatnagar Assistant Professor â&#x20AC;&#x201C; Technology Dr. Vikas has done his Ph.D. in Management from National Institute of Technology Warangal and post-graduation in Business Administration from Central University of Himachal Pradesh and graduation in Electronics and Communication Engineering from Kurukshetra University, Haryana. He has published research articles in various national and international journals and conferences. His area of specialization is Marketing Intelligence, Data Analysis and Application of Soft and Evolutionary Computing methods to business management.

Mr. Anirudh Chakrabarty Assistant Professor- Operations Technology

and

A Premier MBA (IIM Bangalore) with 17 years plus experience in Sales & Retail Operations in FMCG, Telecom, and lifestyle. He is currently pursuing PhD in the field of Operations. Mr. Anirudh has worked with some of the best Corporates including CRISIL, Pidilite, Idea, Reliance,UB, Mahindra Holidays, Askmebazaar. He has also been Empanelled trainer with NIESBUD, Indian Oil Corporation. Mr. Anirudh has also been visiting faculty with education organizations like NIFT, AIMA, Bennet and Sharda University.

Editorial Board: Dr. Shruti Choudhary Advisory Board: Dr Taruna Gautam, Prof. Rajkishan Nair