September 2019
PRABUDDH Faculty Article - Pg 1-4 Book Review Pg 5-10 Elective Description Pg 11-12 Life in the Campus Pg 1314 FDP Pg 15
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Faculty Article Work-life Balance
A balanced and skillful approach to life becomes an important factor in conducting one’s everyday existence. It is important in all aspects of life”. ---Dalai Lama The Art of Happiness The expression work-life balance was
demands of their jobs and raising children.
first used in the late 1970s to describe the
During the 1980s men also began voicing
balance between an individual's work and
work life concerns. By the end of the
personal life.The term ‘work-life balance’
decade, work life balance was seen as more
was coined in 1986 in reaction to the
than just women’s issues, affecting men,
unhealthy choices that many Americans
families, organizations and cultures. This
were making in favour of the workplace, as
growing awareness of the central importance
they opted to neglect family, friends and
of the issue resulted in major growth in
leisure activities in the pursuit of corporate
attempted work life solutions during this
goals
decade.
During the 1960s and 1970s, employers
The
concept
of
“work-life
balance”
considered work life balance mainly an issue
(sometimes referred to as work/family
for working mothers who struggled with the
balance or work/non-work balance) has
gained interest because the notion of balance
perception
of
work-
life
is actually an empowering strategy to deal
compared
to
female
employees.
with spillover between the two domains.
working women are exposed to more
Work life balance is achieved when an individual’s right to a fulfilled life inside and outside paid work is accepted and respected as the norm, to the mutual benefit of the individual, business, and society. (Taken from the Work Foundation)
balance
as The
responsibilities like looking after their commitments towards family, bringing up children, household chores, etc. as well as working in the office to utmost perfection. This discussion can well be substantiated with a survey done by the Organization for Economic Co-operation and Development
The demand for work-life-balance solutions
(OECD) (as cited in TOI, March 8, 2014).
by employees and managers is expanding at
According to this survey, an average Indian
an unprecedented rate. As a result, work-life
man has the dubious distinction of spending
balance is an increasingly hot topic in
all of 19 minutes a day on routine
boardrooms and government halls today.
housework, among the lowest in the world,
Over the coming decade it will be one of the
while Slovenian men are on top with 114
most important issues that executives and
minutes a day. In India, it is a socially well-
human
accepted reality that, even where both
resource
professionals
will
be
expected to manage.
spouses are working, women end up
The analysis of the relationship between work and family has evolved over the years with more females entering the workforce and the husband and wife sharing more of the challenges and burdens of managing
home-life
and
work-life.
Traditional theories in the early 1950’s assumed that work and family lives were independent of one another; the husband
handling most household chores. The survey made by the OECD shows that Indian women spend a huge 5 hours on routine housework such as cooking, laundry, pets and home maintenance in analogy to 19 minutes spent by men. This puts
extra
burden on females compared to their male counterpart. This disturbs the work-life balance in women.
assumed the traditional role as breadwinner
The attention from organizations has been
and the woman as homemaker. Male
increasing towards the concept of work-life
employees report greater satisfaction in the
balance (WLB) as a result of the need of
attracting and retaining valued employees in
innovation, etc. would lead to positive
a highly competitive labor market. Potential
feelings
employees no longer remain fully satisfied
organizations, which ignite organizational
with the remuneration and promotional
growth and profitability.
aspects of a job. Increasingly, job seekers
towards
jobs,
colleagues
and
Work-life balance is the fulfillment
also want their potential workplace to
of
recognize and support the balance between
environment as well as at home. People who
their personal and work lives. Organizations
have high levels of work conflict tend to be
that help to enhance employee morale,
less satisfied with their job, higher levels of
commitment,
reduce
stress and family problems; these factors
sources of stress and problems at work, tend
corresponded to lower levels of commitment
to improve their ability to recruit and retain
and increased incidence of absenteeism.
talented
valued
Work-life balance can only be maintained in
employees.Traditionally, work-life balance
the organization when employees are being
was just assumed to have equal amounts of
satisfied with the designing of their assigned
time given to paid work and non-work roles.
work.
satisfaction,
and
and
personal
expectations
in
a
work
But in the fast changing scenario, the concept has been recognized as being more
of flexible timing can lead to less time and
complex Steven Covey (2004) also supported the importance of work life balance, in his book The 7 Habits of Highly Effective People, where he maintains that balance lays the groundwork for maintaining the other six habits he recommends for success. Balance requires renewal in the four dimensions that he
identifies
It is confirmed that heavy workloads& lack
as
physical,
mental,
social/emotional, and spiritual. It is also revealed that positive experiences at the workplace, such as increased participation in decision making,
energy available for family interaction and leisure, which in turn enhances stress and burnout. Now comes the question of all questions at the work place, ‘How to achieve a healthy work life balance’?. The answer to this question would definitely include some changes in the working habit of every individual. We can sum up the answer into a few points which have to be taken care of: 1. Prioritize your work 2. Structure your time
3. Plot some personal time 4. Have set work hours and stick to them 5. Take breaks during work days 6. Make use of holidays to relax 7. Use of technology to work smarter 8. Make your workspace work for you 9. Do what you love 10. Be realistic 11. Manage your mind
Prof. Anjali Jindal
Book Review
Introduction
This section introduces the seven pillars of insight, which are as follows: Passions – What we love doing Aspirations- Things that I want out of life Fit- Environment that makes me happy and keeps me engaged Patterns – Our consistent ways of thinking, feeling and acting around situations
New York Times bestselling author Dr
Reactions- The thoughts, feelings
Tasha Eurich has written a well-researched
and behaviors that manifest our
book “Insight” on the meta-skills of the
capabilities
twenty first century self-awareness. People
Impact – Effects others have of our
looking for high performance, smart choices
behavior
and relationships, would find the experience
Perspective-taking – Ability to
of reading this book very enriching. The
manage what others are thinking and
book provides critical know-how and tools
feeling
to secure what we so desperately are looking for. (https://hbr.org/ideacast/2018/06/how-tobecome-more-self-aware.html)
Importance of external self-awareness People can mix and match the key pieces of
The book is divided into four parts and I
the puzzle to gain a true understanding of
hereby summarize the four parts with key
who they are and how they are seen.
ideas and actionable takeaways, which can
Successful people who are highly self-aware
be put to use immediately.
are
Part 1- Anatomy of Self-awareness
so
because
they
practice
(https://www.cpr.org/show-segment/think-
youre-self-aware-want-to-be-heres-three-ways-
How to be braver but wiser- from
you-can-learn/)
blindness to insight
Alarm clock events- Eye opening
Identify your assumptions
self-truth when we are given new
Keep learning
roles or rules
Seek feedback on our own attitudes
Earthquakes- Life shattering events
and behaviors Avoid the cult of self – sinister
that give us unheard insights Everyday insight strategy helps them
societal roadblocks to insight – It is
find one everyday
far easier to feel wonderful and special than to become wonderful
Blind-spots or inner roadblocks to insight
and special. Steve disease –better than average
Part 2- Self-awareness- Myths and
effect (https://www.frontiersin.org/articles/1 0.3389/fpsyg.2017.00898/full)
Dunning-kruger
effect-
Follys Thinking is not knowing
least
competent tend to be the most
Myth #1 Introspection begets self-
confident
awareness. It doesn’t! It is not
(https://www.washingtonpost.com/scie
categorically ineffective, but the
nce/2019/01/07/whats-behind-
approach is wrong.
confidence-incompetent-this-suddenlypopular-psychological-phenomenon/)
Self delusion- makes us blind to find out the truth or our own short-
Myth #2 Myth of the padlocked basement – Why we can’t excavate our unconscious, focus on outcomes and adopt a flexible mindset Folly #1 Why not ask why ? We
comings (https://www.huffpost.com/entry/how-
can examine the causes of our
to-spot-your-own-self_b_4919666)
thoughts, feeling and behaviors.
Emotional
Folly #2 Keeping a journal –
blindness and behavior blindness are
Discover how to do it right, explore
the three types that we need to be
the negative and not over- think the
Knowledge
avoiding.
blindness,
positive, process both our thoughts
ounseling-psychology/counseling-
and feelings.
therapy/reframing/)
Folly #3 Evil twin of introspection –
Life-story approach helps us work
disruptive,
backwards to learn how the sum total
disastrous.
of our lives have shaped us. Self-
Rumination buster – Reminding
aware people tend to knit complex
ourselves that people generally don’t
narratives with thematic coherence.
care about their own mistakes as
(https://en.wikipedia.org/wiki/Narrativ
much as we think they do. We must
e_psychology)
Introspection
rumination
is is
have a learn-well mindset where we focus on learning over performance,
Part 3- External Self-awareness What’s holding us back!.
hitting pause from time to time. Internal self-awareness tools that nearly
Other
work
objectively than we see ourselves. Even
Mindfulness is simply noticing what you are thinking, feeling and doing without
being
judgmental
or
reactive. We must be able to
people
generally
see
us
more
people we do not know well, can be a valuable source of feedback. Let’s look at a few of the reasons below. Mum Effect – Keeping mum about
appreciate the differences amongst
undesirable
mindfulness,
introspection,
characteristic of this effect. People
mindlessness.
are perfectly willing to tell white lies
Mindfulness without mantra is what
when they are easier than the cold,
we should be practicing.
hard
(https://greatergood.berkeley.edu/topi
(https://psychology.iresearchnet.com/s
c/mindfulness/definition)
ocial-psychology/social-cognition/mum-
rumination
and
Reframing is looking at both good
messages
is
a
truth.
effect/)
and bad from multiple angles will
CEO disease- Higher up you are on
help us secure insight and success.
the corporate food chain, the less
(https://psychology.iresearchnet.com/c
likely you are to be self-aware.
(http://www.quigglegroup.com/blog/t
Work on the flaws on our fabric – when change isn’t an option, we
wo-causes-of-ceo-disease)
Ostrich Trinity – Our reluctance to
need to accept the things we cannot
ask for truths- I don’t need to ask for feedback,
I
shouldn’t
ask
change.
for
feedback, I don’t want to ask for
Part 4- The Big Picture
feedback.
How leaders build self-aware teams and
(https://en.wikipedia.org/wiki/Ostrich_
organizations
effect)
Building block #1 A leader who
The actionable strategies to overcome this
knows the way, shows the way and
would be to
goes the way
Seek
360
degree
feedback
Building block # 2 The safety and expectations to tell the truth
(https://www.organizationalpsychology
Building block # 3 An ongoing
degrees.com/faq/360-degree-
commitment and process to stay self-
feedback/)
aware
Ensure right feedback process. The right feedback process would involve
The way to build self-aware organizations as
being cognizant of loving critics and
the ultimate culmination of building self-
uncritical lovers.
aware teams is possible through seeking
Receiving,
reflecting
on
and
responding to difficult or surprising
feedback from all stakeholders and through keeping all stakeholders informed.
feedback. This is critical for growing our insight. Self affirmation without stereotype threat – Self-limiting beliefs we hold about ourselves and how others see us. This is very effective when we do it before getting threatening feedback.
Surviving and thriving in a delusional world Accepting what we cannot change and changing what we can. When a little self-knowledge is not enough. Helping the delusional decode the flaring lights.
The
lifelong
quest
for
self-
awareness. Finally Insight is useless if we do not put it to use. Let’s begin on our quest now! Prof. Suman Kumar
Elective Description Behavioural Economics and Decision Making Module Introduction: The subject of behavioural economics has increasingly become very popular in Management education especially after Prof. Richard Thaler of Booth School of Business won the Nobel prize in Economics in 2017 for his work in the field of Behavioural Economics. The knowledge of behavioural economics now been applied more frequently in almost all domain area of management and public policy framework. This course provides a non-technical introduction to behavioural economics and its applications. Behavioural economics explains the departure of our behaviour as predicted by New classical economics by incorporating psychological aspects into our decisionmaking process. This course will help the students to understand that why people make the decisions they make, improve their own decision making, and how can we use the insights of behavioural economics to make better public policy framework.
Learning Objective: To explain the economic decisionmaking process and role of psychology in it and To apply the understanding of BE in various management and public policy issues
Course Outcomes: Demonstrate how the standard assumptions of New classical economics predict our behaviour Understand the limitation of Standard economic model in predicting irrational behaviour in individual decision making. Incorporate psychologically motivated assumptions into economic models and interpret the implications of these assumptions. Apply simple behavioural concepts to new situations Incorporate the understanding of behavioural economics to make better public policy mechanism to achieve the desired outcome.
Job opportunities: As such there are usually no independent job opportunities but the knowledge and understanding of BE are applicable in all domain areas of functional management. That is why this course will surely make them more jobready
Prof. Jitender Bhandari
Elective Description Entrepreneurship Essentials &The Mind-set
Introduction: The course provides learners
with an understanding of the attributes and perspectives of an entrepreneurial mindset, and the process to acquire one.It is suggested that learners bring an open mind and be willing to thoroughly explore the nascent business ventures they have been carrying with them. The course introduces concepts that enable a person to start a trans-formative process in the way they think generally, and in the way, they think about business specifically. This new way of thinking has the potential to positively impact not only them, but their family, and community. Course Focus:The entrepreneurial process
isn’t only for start-ups, it’s a comprehensive mindset that will teach you to identify, assess, shape, and act on opportunities in a variety of contexts, settings and organizations. The course will help students to learn and implement the method of Entrepreneurial essential & the mindset – which will give you a roadmap to create and add value for stakeholders and society.The ability to ‘think like an entrepreneur’ and ‘act like an innovator’ are critical skills for success across industries and are proven tools to help in
create a distinctive identity and accelerate in career. Learning Outcomes: On completion it is
expected that acquired:
participants
will
have
a. Gain an understanding of how Entrepreneurial mindset is applied to identify opportunities in new ventures as well as existing organizations. b. Understand the principles of effectuation and how entrepreneurs apply to real world business situations and opportunities. c. Learn and assess behaviours that are critical in entrepreneurial journey. Job opportunities: The course can be applied to all jobs in every vertical and profiles. Potential Recruiters: Paytm, Fitso, Jaro Education, Byju’s Milkbasket, 1MG, OYO and all start-ups. Job Profiles: Every profile required entrepreneurial mind set especially marketing and operations. Therefore, all jobs will require basic understanding of this course. Prof. Shikha Bhardwaj
Life at Campus Ganesh
Chaturthi
Celebration-
2nd
arti accompanied by bhajans, melodiously performed
September 2019 Ganesh Chaturthi is the Hindu festival celebrated in honor of the god Ganesh, the elephantheaded, remover of obstacles and the god of beginnings and wisdom. Students of IILM Graduate School of Management
by the
students.
Gathering
actively participated in the arti followed by traditional dance performance. The festival was celebrated with much pomp and splendor. Fresher’s Party Batch 2019-2021
2nd
“Fresher’s Party” in any college is an event
September 2019.Students performed various
which every student eagerly awaits from
cultural activities to honor the event and to
their time of admission. The 14th of
show case their devotion towards Lord
September 2019 was as a memorable day in
Ganesha.
the life of every fresher of IILM Graduate
organized
Ganesh
chaturthi
on
School of Management. The fresher’s day According to Hindu mythology, Goddess Parvati created Ganesha using such strength that no God could face him at war. However, during one of their bouts Lord Shiva accidentally chopped of Ganesha's head. To placate Parvati's rage, Lord Shiva along with the other Gods fixed the head of a baby elephant on Ganesha's trunk. On the auspicious day of Ganesh Chaturthi, Lord Shiva declared that Ganesha will be the only deity who would be worshipped ahead of any other God, and that he would always be worshipped as a symbol of knowledge, wisdom and strength. Worship of Lord Ganesha begins with the priest chanting mantras and bathing the deity with sandalwood paste and kumkum, traditional
was filled with excitement, joy, music, enthusiasm, laughter and happiness. The celebration started at sharp 1730 hour at the Event area by anchors with the warm welcome of all the dignitaries and the jury present in the function. This was followed by the Saraswati pooja and lamp lightening by the Dignitaries. Events started with solo singing performances by some of the best singers of second year. After this all the other participants of this great evening came up with their unique ramp walk in pairs. They introduced themselves one by one in the allotted time which was 1 min per contestant. All of them were impressive in their
own
way.
Second
round
of
performances went on very well. Two dance teams performed after this, which provided jury with sufficient time for deciding the results. The dance performance were very much exciting to watch. After the dance performance, results were declared and contestants were finally selected for the final question-answer round. The jury asked some mind twisting questions and some of them were able to tackle them very well. Once the results were out, it was the stage of achievement
for
the
contestants.
The
winners of Mr. and Ms. Fresher were Shambashib Roy and MahimaVishwakarma respectively. It is said that a good start signifies a great end, and the fresher’s could not have asked for a better kick off.
Faculty Development Programme Topic:
Data Protection & Privacy and Intellectual Property as Strategic Issue
Speaker:
Prof. A. Damodaran (Professor, IIM Bangalore)
Date:
21 September 2019
Topics covered:
What is Data Protection? What is Privacy? How data protection is linked to privacy? Models of privacy/ data protection What is the economics of Data Protection in relations to digital economy? Grounds for restrictions and laws. Key players in the field of Data Protection Data Monetization as business model GDPR vs US vs India law Indian legislation
Key Learning Outcomes
Today Data Protection has become a very sensitive issue as new technologies like Artificial Intelligence, Deep Mining, proliferation of social networking sites etc. have the potential to infringe data privacy of any single person on this planet
Personal data may be easily collected using new technologies without the person being aware and thereafter sold, licensed, or used to create new intellectual property rights.
Data Protection is the process of safeguarding important information from corruption, compromises or loss.
Layers of Privacy - Information Privacy, Bodily Privacy, Privacy of Communication, Territorial Privacy
Operating Systems, Networking Layers, Browsers, cookies, Scripts form the Privacy Pyramid in the Internet
Personal information must be obtained fairly and lawfully; used only for the original specified purpose; kept secured and destroyed after its purpose is completed.
Different concepts pertaining to data protection are: Data, Data Fiduciary, Data Principal, Data Processor, and De- Identification
Various Models on Data Protection are US Model; The GDPR/ EC View; Moral Right Model; and Trade Secrecy Model
US model (IP Model) of data protection suggests that a person is the custodian of his/her personal data
GDPR (General Data Protection Regulation) of data protection view advocates that Companies and the government must generally abide by EU legal principles, which require data to be processed only for a specific purpose, using only the data necessary. The data must be deleted once the purpose is achieved.
Moral Right Model of data protection suggests that it is the moral right to maintain the privacy of data
Trade Secrecy Model of data protection is a Right to be Forgotten
Economic view on data privacy says that personal data is a fungible commodity i.e one that can be made scarce, bought, sold, traded and so on.
The GDPR mandates data portability as a right for data subjects, which means that an individual has the right to have his/her data transferred from one controller to another.
Data localisation is storing sensitive personal data in a national server
Data Dividend gives reward to data owners to share their personal information
Data protection has opened up many business opportunities. There are many companies and start-ups working in this field
Srikrishna Commission, Personal Data protection Bill 2018 is the major Indian initiatives towards the Data Protection regime.
Editorial Board: Dr. Shruti Choudhary Advisory Board: Prof. Rajkishan Nair