Mar
13

Meraki – 2019

A view of our Top 12 Meraki Finalist, after combining through hundreds of B-Plans, our judges have selected 12 innovative ideas that showcase the potential to be the next big business ideas. Battle of Plans – March 23rd 2019!

Here are the top 12 teams and brief description of their plans, who will showcase their talent in front of Venture Capitalist and Angel Investors on March 23rd 2019 at FIIB Campus.

Idea @ Fantastic from Seth Jai Parkash Mukand Lal Institute of Engineering and Technology, The idea is to make bold step in the whole event management industry. The team are planning to introduce a whole new way to plan out our events from small domestic events to large commercial, hustle-less and cheaper and more flexible.

Idea @ Help Nation from LNCTS Bhopal, ‘Help Nation’ a ‘tele reality show’, & invites teams, to participate in a start-up game-show competition with final goal, “THE EXIT” Why ‘9 out of 10 start-ups fail’ because of countless reasons.

Idea @ Quick Rey from G. L. Bajaj Institute of Management and Research, Description: Changing e-commerce platform from being delivery to pick up.

Idea @ Capshun from NMIMS, The team is providing the online caption support to enhance the visibility of social media posts, according to survey, Instagram has 120 million daily, 95% of these pictures have a caption to it, still Instagram faces the highest drop off rate when the users reach the ‘write-a-caption’ screen. Hence we developed Capshun, which uses artificial intelligence to generate captions and hashtags which can be shared directly by users on various social media platforms. Within 10 seconds the user is given multiple options to select the perfect caption according to their choice, along with this the users also get to choose the hashtags which are optimised for the best reach. We recently launched our pilot which has received over 20,000 Downloads within just 3 weeks. We plan to foray into multiple languages and increase our database of currently over 10,000 captions.

Idea @ Inneate from Indian Institute of Management, Lucknow, B2B e-commerce in Healthcare

Idea @ Adhikaar from Delhi College of Arts and Commerce, Team Adhikaar aims to empower women towards a sustainable livelihood breaking, gender stereotypes and resolving the pressing issues of last-mile connectivity and women harassment by pioneering a non-polluting women driven communication service.

Idea @ Re-Plas from IMT Ghaziabad, The team is working to Provide Low Cost Alternate Construction Material from Waste Plastic to Build Shelters & Homes in India By 2020.

Idea @ Book a Plant from Sri Guru Gobind Singh College of Commerce, It is an online platform which acts as an uber for plants by allowing the customers to make online orders through our website. Through customizable features and speedy delivery, the plants reach your doorsteps within 3-4 business days. As the name suggests, plants can be booked and they will be delivered to your doorstep within 3-5 days. Our USP is Doorstep Delivery, Huge Variety at Affordable Rates along with controlling the pollution levels in the capital of the country and rendering entrepreneurship skills to the nursery plant owners. It aims to supply air purifying saplings to the residential apartments and private lawns and minimal costs


Idea@Envirotech from Bhaskaracharya College of Applied Sciences
Envirotech is a startup based on developing Smart Recycling Kiosks that simplify recycling practices and rewards users. 

Idea @ GarageOnRoad from JSSATE, Noida, GarangeOnRoad is automobile garage aggregator based out of Delhi NCR, we have more than 1200 Garages in Delhi NCR and we also have our pilots running in Lucknow, Jaipur & Agra. Our monthly revenue is 6-8 L per month and currently we are bootstrapped and would love to expand and connect with right mentors and team to scale our business further.

Idea @ Hogworts from IIT Madras, Web-based platform for hosting University ProjectsIdea @ Nervy from Indian Institute of Science, Bengaluru, Nervy aims be first of its kind across the globe to quantitatively measure progression, prevention and treat Diabetic Neuropathy.

Mar
04

The Vibe – Meet FIIBs new-age band

Almost every college has a set of students who come early and leave the premise late. They usually have a certain kind of energy that ask them to gaze ahead of academics and buzz the tunes of music. When the lectures come to an end and students pack their bags to leave the college, these particular students dive deep into rhythms and unpacks their bags to have hands-on music instruments. Many people say that balancing between high academic grades and extra-curricular activities is not an easy walk. But, it seems like FIIB students have learnt the technique. Meet FIIBs new-age band who has successfully balanced the two-way ride and created a group that stays with them life-long.

The Vibe, FIIBs official student music band, is a power pack of six students in the lead voices of Arunesh Agashe, Manish Chattani, Khusboo Bara and Rajaganapathy Sethuraman with Ashutosh Swarnkar on strings and with Tanmay Saha on the bass. On asking about their spirit of togetherness, they summarized that “The Vibe Band is not limited to five or six faces. It is a space for all those passionate heads who want to fulfil their musical dreams and explore the world of creativity.” The students also shared their unforgettable moments of TEDxFIIB and showed their sincere thanks to FIIB for the opportunities and honour they received.

The Vibe Band shared their journey; talks about the music that drives them, moving out of their comfort zone and more. Let us see what they answered.

Q: What brought you all together?

The Vibe: Music and passion to create more beats are what brought us all together. Since we met in college, it was initially quite hard to be open and put the thoughts we had in front of each other. But as the interactive sessions are kind of a ritual at FIIB, which helped us a lot to understand each other better. Within the time span of two months at FIIB, four of the band members were rehearsing together. But, while auditioning for the official FIIB music band, Dr. Sangeeta Chopra said that there’s something missing which needs to be connected. That was the time when the fifth member of our band, Tanmay Saha joined.

Q: Where does the idea of the band come from?

The Vibe: There’s one common factor that we all carry with us and that is our immense love for music. During the first few days at FIIB, we participated in orientation, freshers day and other activities to keep in touch with our passion of music. When auditioned for TEDx, we all saw something bigger than us. And, that was the moment we thought we would together make a great combo – a band with unique talents.

Q: What are the challenges you faced while forming the band?

The Vibe: Rigorous schedule is a part of every MBA student’s life. Honestly, finding time from lectures, jamming sessions and other activities were not less than a challenge to us. But, we cannot compromise with our studies and leaving our passion for lack of time is not an excuse that we can afford. So, we decided to stay back in college and rehearse at least for two hours every day. Rajaganapathy, one of the band member, added, there’s no doubt that time is a tricky thing and we cannot fight with it (laughs).

Rehearsing together without spending time on solving a mess is again an unavoidable challenge that we all had to bare with, somehow. We are a team of six and, obviously, all six have their own opinions to share. In the words of The Vibe band, challenges are a core part of our journey but it is our passion towards music that we stand together on a stage to perform despite our rigorous schedule and individual opinions.

Q: What are some of the high points that you experienced in the band?

The Vibe: Performing on the TEDxFIIB stage was one of the most cherishing moments that we all going to remember life-long. It was our first official stage performance and we were excited, nervous, yet so happy that it was happening. Manish Chattani, one of the lead voice of The Vibe said that “we learnt a lot of things during rehearsal time, and we were extra careful to make sure every single detail of our act comes up well on stage. Arunesh Agashe further added that “It was a proud moment for all of us representing FIIB. We’re glad that it went smoothly, and we couldn’t ask for a better opportunity.” The second most exciting and thrilling moment was singing the Racer Anthem song. We enjoyed a lot and experienced what together we can achieve.

Q: What’s the road ahead for you?
The Vibe: We want to continue our passion for music even after the college journey rests. We want people to call us a group that is still buzzing with energy. We want to move forward; from the gigs of college festivals to performing at several venues in the city. We genuinely invite passionate students who find solace in the beats of music to join us. Our till-now journey was super hectic, but the opportunities we had was definitely worth the struggle.

Feb
27

From Campus to Corporate – FIIB Making The Transition Easier For Students Through Sankalp

Progress is impossible without change — Students who desire to achieve great heights in their career must understand the importance of transition. Normally, life is a tale of major and minor changes, which altogether shape our individuality and help us to create our own identity. In a student’s life, real change comes in after he/she completes the college and thinks about the career ahead. The timespan between leaving the college and entering into corporate world is quite a tough road to cover.  But, FIIB believes that it could be a smooth ride if students get right bits of guidance during their growing-into-adulthood phase.

With a core aim of making this “Campus to Corporate” paradigm shift less challenging for students, FIIB has introduced SANKALP, a skill development program, that provides various assessments, guest interactions, and hands-on training sessions to students. SANKALP is that bridge which enables students to become better employees and train them to cope up with the corporate world.

What is SANKALP?

SANKALPSkills And Knowledge Aligned to Lead and Perform

As the name conveys – SANKALP is an initiative taken by FIIB to create success for students by enhancing their soft skills and turn them into required employability skills. FIIB conducts various skill development programs for students betterment; SANKALP is one such program that helps them evolve into corporate professionals.

SANKALP – The Four-Stages towards Success

FIIB understands the different development needs of students and thus, crafted SANKALP in a way that grows along with the mindset of students. During the 2 years of PGDM, the students undergo 4 SANKALP training programs that broadly focus on polishing FIIB student into a corporate professional.

SANKALP 1 – Starting right from the roots

In the very first stage towards corporate success, FIIB plans to make students familiar with different career tracks that diverge from PGDM and tell them about the demands of the business world. During the first few months at FIIB, students get an opportunity to attend various sessions that will help them further to understand their capabilities, build confidence and foster camaraderie among their friends. “I came from a non-tech background, I feared I wouldn’t be able to catch up with IT tools, numbers, and stats. I also was not clear on what career opportunities would match my strengths, thankfully attending SANKALP-1 has solved all these queries for me, as it happened at an early stage of my MBA, I stepped into all my core courses confident that I will be able to make the most of them”, a first year student, Mansi said describing her experience with SANKALP and how she loved it.

SANKALP 2 – CIP to PPO

The most important part behind the whole “Campus to Corporate” transition is stage 2, which is a 3 days long workshop that helps students to unleash what the corporate expects from them. With this particular stage, FIIB plans out to deliver the needed business etiquettes and preparations to students that outcomes successful CIP to PPO (Pre-Placement Offer) conversions from companies like ITC, McCann Erickson, Shopclues, Unison International and PayU Money.

This stage shape the future of student by-

  • Conducting CIP Evaluations and Processes
  • Briefing on how CIP goes in respective domain specialization
  • Creating a corporate culture at the campus (during the 3 days long workshop) to make students aware of workplace ethics.
  • Sharing previous experiences during CIP and much more.

SANKALP 3 – Getting ready for the last mile

A bundle of tests, assessments, and lots of placement drives that grinds students well-enough that they feel all set to step out and shine. The third stage of SANKALP is all about mock placement session that prepares students to face the real corporate world. At this point, FIIB doesn’t talk about ‘creating a corporate culture’ instead, make sure that students conquered the corporate world seat. “Career preparedness is individualized and unique at FIIB. The assessments and mock interviews help us understand their strengths, nurture their winning attitude, and train them to unleash their true potential by hands on training and mock practice sessions.”, said Ms. Smita Sharma, Head – Training & Development at FIIB.

SANKALP 4 – Holding your hands till the end

When we said transition in life is normal, we also meant that sometimes you (as a student) have to put extra efforts to reserve your seat at the corporate world. With its fourth stage, FIIB tries to help those students who somehow left behind in the race of career success by offering one-on-one career guidance and helping them further for placements. “The concepts covered helped discover my strengths and work on my shortcomings, I discussed some tricky interview scenarios I have faced and the trainers suggested how to tackle them, Thanks to the session I realized I had it all in me, I just had to sharpen my skills.”, said Tasneem one such student, who has since been selected as a Sales Associate in Connect2India.

With SANKALP, FIIB is focusing on driving career success for students and pave a way to success that sound true to the tagline ‘Enter to learn, leave to succeed.’

Feb
18

Student Clubs & Extracurricular Activities – Stepping stone towards a bright career

As the popular saying goes, “If opportunity doesn’t knock, build a door.” But students should prefer the more inspirational line in the course of their career: “Follow your bliss to make opportunity knock the door.

The experts also believe that students who consider extracurricular activities as a part of their learning are generally much more productive and successful than their regular counterparts. But being extra is more than just attending seminars and getting yourself enrolled in a club. It is much about adopting the mentality that extra special students have over average students – demonstrate leadership potential, being multi-directional and paying close attention to the dimensions outside of their college curriculum.

There’s no doubt that students often feel a little aimless while trying to choose the best alternatives for a bright future. On the other hand, recruiters and admission officers repeatedly has to make right interview choices from a pool of qualified applicants. No matter at what stage of career you are standing, considering student clubs and extracurricular activities will going to help you (always).

At FIIB, students don’t need to care about those “extras” much as the faculty is versed enough to take care of it. They understand that practical learning, team bonding and being a regular competitor are not just classified terms. Instead, these are some vital skills that differentiate future leaders from 9-5 working employees; high- achievers from average students. With this mindset, FIIB offers 9 different clubs that actively conducts seminars, extracurricular activities and conclaves to broaden the horizons of learning for students. To make sure that every student gets maximum opportunities during their course at FIIB, and even after the completion, these student clubs act as a sustainable platform to complement their skills.

Why it is essential for you to be a part of MBA Clubs?

Basically, MBA clubs are an ingenious way for students to polish their skills, cultivate new opportunities and enhance networking without hampering the routine lectures. Students who want to ramp up their extracurriculars can get a sense of start with such clubs. The best part of joining MBA clubs is that you’re free to pursue your interests, relate gained skills to your career goals, and unleash fast-track professional growth at times. Including a tag of high-achiever, your extracurriculars also help recruiters to differentiate your resume from the mile-high piles of applications.

What to consider when choosing the right Student Clubs

Being a student, you need to understand how important it is for you to choose the right club: one that fits well with your interest, lifestyle and career goals. Here are some of the things that students need to keep in mind while choosing a club:

  • Focus on career-related options

You need to track where your mind and heart want to be before actually seeking a club. Be a part of the club that invests in your skills, make you less frustrated, and most importantly, delivers key insights of the industry you wish to work in the future.

  • Seize the opportunities

You should explore every industry even if you’ve experienced in a particular sector. For example: Assume a student had his past job in the finance sector. But during his MBA he is getting an opportunity to learn entrepreneurial tactics, then he should seize the chance without entertaining the second thoughts.

  • Think differently

While it is crucial for students to think of career goals and future success, considering mindfulness and self-satisfaction is also equally essential for them to pave bright as well as a healthy career path.

Do you want to be a high-achiever?

Now, that everything has shared with you, it is up to you whether you desire to be a high-achiever in your career or, happy to be an average student. Whatever your take on this, you must understand that student clubs and extracurricular activities help you to be the better version of yourself. They not only help you to excel in your academics but also make your individuality strong enough to reckon fulfilment in other walks of life.

Feb
16

Let Failure Not Be An Option: Things To Keep In Mind Before Starting Up

If you’re an entrepreneur or planning to become one, you will find advice in plenty often not much useful, you will also be constantly worrying about the success of your startup and what pitfalls to avoid. It’s normal to, after all, you’ve invested your money, resources, and your time completely to give shape to your idea and make it a working and running startup. But often entrepreneurs forget to take into account the below factors which cost them really bad. Are you doing so? It doesn’t hurt to reevaluate yourself, and it takes 5 minutes hardly to read.

Your idea isn’t as good as you think.

First of all, even the most brilliant entrepreneurs have terrible ideas. Most have the sense to get feedback from trusted experts/peers and test their ideas before making any commitments. If you’re asking friends and family for feedback, pose it as the idea of a friend or a colleague. If they know it is your idea, their feedback will be biased.

Run small tests to see if people will buy your products before you invest a lot of time, money and effort into it. Set up a landing page (Unbounce is one tool that lets you set up a landing page and test), run a Google Adwords campaign, offer a MVP (minimum viable product) to a focus group. This will show you if there is a market and a need for what you want to create.

Second, your ideas are never as original or as good as you believe. Research has found that people often suffer from an illusion of superiority, in which they overestimate their abilities and their value. Even worse, confirmation bias makes it harder for people to change their minds when they’re set on something. Make sure you introspect yourself well and you don’t fall into these pitfalls, always trust data.

Most startups are slight modifications of other companies. Do your research early on. There may be countless people who have already tried to do what you’re trying and failed, your task is to find a better solution.

2. You’re partnering with the wrong person.

Select your founding team members carefully. Sometimes, great friends are terrible cofounders. Early-stage startups need to bring distinct skills, strengths and experience to the table. Someone who has had years of experience in finance may want a technical cofounder for their fintech startup. Once you’ve assembled a strong team, make sure that roles, responsibilities and ownership within the company is absolutely clear. Companies often implode and friendships are destroyed when there isn’t a clear agreement from the start.

3. You’ll run out of cash.

Before even thinking about venture capital or going public, you need to be cash flow positive as soon as possible. Some entrepreneurs will spend lots of money under the guise that it will accelerate company growth. It probably won’t. Instead, get paying customers or users first. Monetizing a business is one of the most difficult, and critical challenges for startups. It can take years and require you to bootstrap, but it’s better to have 30 paying customers than 300 free users. In one case, it’s a business. In the other, it’s a hobby.

4. You don’t know anything about the business.

I made the mistake of joining an education startup in the mid 2000s. Soon after, I realized that no one on the team had worked in the industry. “Shockingly”, the business tanked. Successful entrepreneurs gain experience and build connections within an industry before they ever launch their company. Don’t try to start a business in an area where you have no expertise.

It takes time to develop contacts, understand customer problems and build trust with a consumer. If you’ve never worked at a bakery, you shouldn’t open one. You don’t know the pitfalls or the business of it. You might love fashion, but it doesn’t mean you understand the business of fashion.

Although successful startups are glamorized, building one is harder than it looks. Failure is part of building a business. As an aspiring entrepreneur, you’re going to make a lot of mistakes. However, if you fail, it’s probably because you’ve fallen into one of these pitfalls. There’s always time to improve. Good Luck!

Lokesh Khandelwal

Feb
16

How to Become Job Ready Professionals By Taking Advantage of Experiential Learning

Experiential learning can be defined as process of learning which is not limited to just interactive classroom session. It is boundaryless and helps students relate to theories through their application in the real world wherein they desire to enter. It can be in the form of opportunities that help them tackle challenges that come their way like winter internships, summer internships, role plays, live projects and other activities that provides students hands on experience. These activities polish the management skills and make the student cope up with the fast-changing environment which is a must to ensure their long-term career.

The Employability Question:

Technology continues to quickly change and drastically affect industries, government policies, mode of  education and even the non –profitable sectors. As per the Bureau of Labour statistics, careers in software development and programme are growing at a 17% rate faster than the average. Regardless of a very attractive career path, with reference to the national survey (almost 9 out of 10) human resource managers and recruiters say it is very challenging to find technical talent in today’s time. Despite the career opportunities going higher, the no. of unemployed isn’t coming down, that shows HR managers and recruiters are not able to find the right fit for the jobs in the market. There could be many reasons for talent shortages, maybe companies have unrealistic expectation about work experience of candidates at entry level, Gap between Theory and Practice, lower engagement levels, lack of personalized Learning, etc.

What does it Mean?

It is increasingly becoming clear that the world of work now wants more, to sustain a career, colleges need to teach students through practical and experiential methods so that they can use their theoretical learning in the corporate from day one. As a student I feel that there’s also a lack of understanding before choosing an institute to study with. Most of the time, this decision is based on just placement rates of the college alone, but there’s something missing in the bigger picture.

What Can we do?

Before:

I feel while choosing a B-School, it’s also the responsibility of the student to find out what’s in the curriculum and how many of the courses offer experiential learning. In our conversations while selecting the right management institute, we need to ask the counsellors about the duration of internship, the kind of industry exposure that is provided through seminars, guest lectures, industry visits, field trips etc. The point here is to make an informed choice and to invest the 2 years of time in the right kind of learning.

During: The actual story begins here; this part is to actually get involved and make the most of the opportunities that come your way. At FIIB, I make sure that I am an active member of at least 2 student clubs through which I get to participate in and manage several student events and activities. I get to learn while I play. I think every student, particularly management students shouldn’t let go of activities like field trips. We can learn much more about supply chain and operations by actually visiting fulfillment centres, markets, and factories rather than learn through diagrams in a textbook. Being clear, that textbook learning is what sets the tone and direction for me but that extra assignment I did or that event I managed tells me how to do it. For my fellow students from my college and other institutes, I would say, please be extra careful about the time you spend in these activities, you can thank me later.

After: Let’s say you’ve spent your time wisely at your MBA college and now are at the crossroads of placements, my suggestion to you is to talk to research more about how best to showcase your experiential learning in your resume. Talk to the career management team at your college on how to polish your profile. Before interviews, always research about the company and the job roles, not just on what they’re asking from you but also whether the organization encourages a culture of learning and teamwork, ask your seniors and alumni working in the same organization about their growth. I am new to this too, but what I’ve learnt so far is that for a long-term career, a mindset of learning, a culture of practice, and an attitude to succeed are the only 3 things needed.

Divya Udharamani

Batch 2018-20

Feb
15

Impact of Goods and Services Tax on Indian Economy

Renowned as one of the biggest tax reform of India, GST (Goods and Services Tax) is thoroughly based on the notion of “one nation, one market, one tax”. The biggest indirect tax has come into effect on 1st July 2017 which straightforwardly unified the whole nation into one single entity. In this blog, we will try to understand the tax basics, types, and GST & its implications on the Indian economy.

What is tax?

The term tax has been derived from the Latin word “Taxo” which refers to a compulsory financial obligation, charge, or a levy that is imposed upon an individual or an entity. Such an individual or entity is mostly referred to as the taxpayer. The levy is charged by the government or an agency appointed by the government to collect the tax. In most of the countries, it is mandatory to pay different types of taxes and not paying the same may lead to different forms of fines and punishments.

What is the direct and indirect tax?

Taxes are most of the times referred to as direct taxes and indirect taxes. The denotation of these terms mostly differs in various contexts. Generally understood, direct taxes are the taxes that are levied against a certain characteristic of an individual. On the other hand, indirect taxes are mostly levied on transactions and are not dependent on who is doing the transaction. The major form of direct tax includes income tax, property tax, inheritance tax, gift tax, and corporate tax. The major form of indirect tax includes sales tax, entertainment tax, customs duty, value-added tax (VAT), service tax, and goods and services tax.

What is GST?

Goods and services tax or, most commonly referred to as “GST” is an important type of indirect tax. GST is a kind of taxing system in which taxes are assessed and charged incrementally on the value that gets increased over the production and distribution process. Hence, GST is a kind of value additive taxation system. The purpose of this kind of taxation system is to compensate for the services and resources consumed in a particular locality or a particular state. These utilised services and resources are compensated by the taxpayers in the form of GST. This kind of taxing system is now deployed widely throughout the world.

Luckily, now India also follows the GST system of taxation. It is the latest development in the Indian taxation arena, which came into effect on midnight of June 30, 2017. The system replaced the existing VAT system of tax collection. GST was introduced through the One Hundred and First Amendment to the Constitution of India. GST mechanism successfully replaced multiple categories of tax that were previously collected by the government at various levels. Currently, there are five tax brackets of GST: 0 per cent, 5 per cent, 12 per cent, 18 per cent, and 28 per cent.  Besides this, petrol & petroleum products, electricity and alcoholic drinks are not included in the GST regime.

Some of the key advantages of GST include:

  • Removal of multiple levels of taxes such as VAT, sales tax, and excise duty
  • Ease of implementation and simplification of the tax collection process
  • GST removes the cascading effects of various taxes that are levied over one another
  • The decline in prices of commodities that are in the lower tax regime
  • Streamlining of the supply chain and concentration of production process
  • Reduction in black marketing and parallel economy.

Moreover, there are certain indirect benefits of GST as well that includes: saving time and efforts and increase production and consumption of goods & services.

There are certain limitations of GST that are worth noting. The main limitations of GST include:

  • Increased costs of new software purchase to do GST accounting
  • Bringing compatibility in the pre and post GST tax rates
  • Multiple filings for organizations that having operations in many states
  • Higher tax impact on small and medium enterprises
  • Difficulty in getting employees who are versed in GST

The key impact of GST on the Indian Economy

GST is believed to be one of the biggest reforms in the Indian taxation system. The new regime is to introduce a host of changes to the overall functioning of the Indian economy. GST is also supposed to dramatically change the manner in which businesses conduct in the country. The key impacts of GST that are likely to affect Indian Economy include:

  • Reduction of the tax burden on manufacturers
  • The increasing pace of production and distribution process
  • Reduction of the travel time of trucks among various states of India

Moreover, GST will also lead to the removal of artificial trade barriers on account of multiple rates of taxes on the same commodity. The entire system will bring higher transparency in the tax collection process. GST will also bring down the existing customs duties that are charged on imports and exports. Hence, the regime is expected to make the foreign trade of India more competitive.

Feb
15

Cloud Computing – A Trustworthy Helping Hand For SMBs & Entrepreneurs

No matter what your teachers call you in school – an average student, last-bencher nerd, or a talented class-topper. You all must have some big career plans to pursue, and even bigger business ideas to chase. Presumably, you’re good at planning, sharp in creating strategies and fast enough to make fruitful decisions. But, how will you fulfil your desires if you don’t have your feet on a reliable and trustworthy platform?

In today’s competitive market world, we all quest for a helping hand that understands our vision and helps us further to pave the right path. A path that leads to success and narrates the story of a willingness to take risks and raise a business. Talking precisely about small businesses and entrepreneurs, having a trustworthy helping hand is not the only requirement they have. Instead, uninterrupted services, cost-efficient solutions, and easy-to-access applications are some of the common essentials that strengthen their entrepreneurial mindset.

Summing it up all, the cloud is a reliable, flexible, and most importantly, a trustworthy platform for SMBs and entrepreneurs. A cloud is a powerful tool that is enabling growth and productivity in businesses, allowing them to claim opportunities they never thought possible to fetch. Most of us didn’t even realise that we are already utilizing the cloud for so many purposes. From storing our beloved pictures to accessing Google drive for notes, everything is on the cloud, which means we are living in the sphere of cloud computing.  

How FIIB is making students aware of Cloud Computing?

The faculty of FIIB always gaze to provide the best possible knowledge and skills to their students. Being an MBA institution, FIIB is not only limited to adding advanced analytics course to their curriculum, but they also make sure that every student is skilful enough to use modern tools & functionalities. Undoubtedly, modern businesses are adopting the power of cloud computing to enrich productivity, and that’s the reason why it is quite essential for future leaders to learn such tactics.

How is cloud computing support growing businesses?

It is quite difficult for passionate students to invest a lot of money to make their entrepreneur dream a reality. Physical space for office, in-house server infrastructure to store data, and IT team to deal with technical issues are some basic things that reside in the ‘business planning’ list of a starter. These are the expenditures that cost high and close to impossible for a starter to accomplish.

But, cloud computing makes this whole planning much easier for entrepreneurs. It simply migrates your data to third-party cloud vendor’s server and offers a cutting-edge cloud infrastructure solution to the business. Below are some of the advantages of cloud computing that help startup businesses grow:

  • Big Data Analytics

It is essential to have filtered data and real-time market insights to make smart business decisions. Cloud computing companies understand the data-driven market of today’s and thus, provides big data analytics tools that are accessible from anywhere.

  • Mobility

No entrepreneur wants to stick to a single chair and do 9-5 shift just for the sake of ‘business traditions’. Cloud computing respects this mindset and allow users to access business data from any location at any time, irrespective of what device or operating system they’re using.  

  • File Storage & Data Backups

Business owners invest their precious time in finding the location of modified documents and deleting the clutter of junk files. Cloud computing offers unlimited storage space to save business data and automatically backups the data to ease disaster recovery hurdles.

  • Data Security

Keeping sensitive business data away from the reach of cybercriminals is quite difficult these days. Cloud ensures complete security of your data by storing it in certified data centers that follow advanced security techniques such as two-factor authentication, end-to-end encryption and anti-virus programs.

  • Flexibility & Scalability

Most of the cloud vendors understand the utmost requirement of increasing and decreasing the resources in starter business, and thus – provides resource scalability and platform flexibility to users.  

So, you as an entrepreneur can avail all these perks only if you join hand with cloud technology!

How cloud computing nourishes your entrepreneur journey?

Switching to cloud-based applications simply means that you’re ready to participate in a monumental shift of growth and betterment. Hardly a few passionate entrepreneurs out of the crowd of many truly understand the worth of streamlined process and freedom of accessibility. And those who thrive for such functionalities are the ones who find cloud computing as a nourishing tonic that acts like water to new seeds. Let’s explore in what ways cloud computing nourishes your entrepreneur journey.

  • Better Insights

Entrepreneurs cannot invest money in business intelligence and analytics tools. Integrating their business plan to the cloud infrastructure give access to real-time data insights, which is vital to forecast better marketing strategies and decisions.

  • Enhanced Productivity

Server maintenance and software upgradation are no longer your responsibility after you move to the cloud, which indicates that you’ll have plenty of time to think about future plans and options to save more money.

  • Smart Savings

Most of the cloud vendors follow pay-as-you-go policy that states, users have to pay only for those services and resources which they’re using at the present time. It also offers timely technical assistance and disaster recovery options that eradicates the need for outsourced services.

  • Increased Collaboration

The technology provides a collaborative platform to team members, executives and group of developers to work together. Such friendly technologies are requisite for an entrepreneur to innovate faster.

Act cloud-ish, but don’t be childish

It is clear to you by now that cloud computing is a powerful tool for those who want to do something big with their ideas and visions. However, it is equally important to check the authenticity and credibility of the cloud vendor with whom you are integrating your business. It is good to be ambitious, but even better to explore the market before engaging with any party or platform.

Feb
14

Entrepreneurial Self Awareness Course – An Initiative by FIIB

Students often assume the relevance of entrepreneurship courses to their career prospects if they are not inclined to pursue new venture creation in the near future. The criticality of having an entrepreneurial mindset for growth and survival in today’s corporate sector is not understood by most students. This underlines the need for exposing students at an early stage in their education to their self-aware about their entrepreneurial intentions before teaching them to systematically validate a business idea, to perfection and take it to market.

However, most institutions of higher education have courses which directly target idea development, opportunity assessment, product development, value proposition and business plan preparation among other topics. There is a negligible effort towards making students self-aware about their own entrepreneurial traits, attitudes and beliefs and their impact on ideation.   

This underlines foundation course focusing on sync idea and the individual by recognising their entrepreneurial intentions (or lack of them), career aspirations and style preference while working in teams. These three elements of the student’s personality need to match with ideation to make them aware of synergy or dissonance.

To address this gap, FIIB introduced a foundation course on entrepreneurship from the academic year 2017-18. The main aim of the course “entrepreneurship boot camp” is to spread entrepreneurial self-awareness. It has delivered to all 180 students of 2017-19 and 2018-20 batch in a ten-hour module during the orientation program held in June.

The feedback received from the last two batches has been extremely encouraging, and students have been able to calibrate their aspirations, team style and intentions based on learnings from the course. And accordingly, work in the core course that follows and/or opt for an elective based on their interests.

A paper was presented by Dr. Deepak Pandit in the 20th Conference of Strategic Management Forum India on 25th Dec 2017 at IIM Trichy showcasing this foundation course as an innovation in pedagogy in the area of entrepreneurship education.

Feb
14

Blockchain – The Next Generation Business Revolution

All these years, the corporate sector has been working in the respective silos. Customer identity and records were restricted to the sector in which a customer was dealing. With technological growth, the need of the hour was the quick flow of information and prompt decision making. For all those who have been hoping for this transformation, blockchain is good news.  In recent years, block chains have emerged as a path-breaking revolution in business technology. People who are working on use cases claim that it is going to be the potential game changer in the field of business. The emergence of the digital five forces – social, mobile, analytics, cloud and internet of things are creating a robust base for the growth of block chains.

For laymen, blockchain is a synonym to cryptocurrencies, which is not true. Cryptocurrency is an application of the block chains, but it came into existence much before the earlier application started. Also, cryptos became very popular, owing to their basic nature, but the other applications are not yet known because they are in the growth stage. Blockchain technology has many other advantages than just Bitcoins or Ethereum.

Let us understand this by an example: for ensuring a customer if an insurance company could have access to customer records which have been generated by the healthcare sector (right at the source) and later shared on a pooled platform for use by other sectors like insurance, bank, pharma etc. Imagine how much time will be saved by the insurer to collect those bulky documents from the client. They can instead focus on the non-trivial issue. The reduction in turnaround time (TAT) would not only result in cost saving for the companies, but it would also help the customer by way of structured documentation, eliminating chances of fraud.

A couple of questions that a layman could have on blockchain are – what are block chains? Is this a software or technology? How can it transform the way we do business? What is the value proposition? And, what is the future of block chains? This article answers all these questions for you.

If you are not able to understand what blockchain is all about, then it is a series of blocks joined together in a chain through a code, which is not easy to crack as it is a cryptographic hash of the previous block, a timestamp and a transaction date. One can visualize block chains like a Jenga where blocks are placed one over the other, the moment a block is pulled out from between, the entire Jenga collapses. So when someone tries to tamper a block, either the chain will collapse or send out warning signals to the other participants. The blockchain is technology. It can radically transform business transactions as has been evident by the use cases in this area. The most remarkable results have seen blockchains used to store information, reducing intermediaries, and enabling better coordination between companies.

The initial results show that it is going to be highly beneficial for sectors like healthcare, pharma, diamond business, and financial services. Amidst intense experimentation, industries from financial services to healthcare and the arts have identified hundred plus blockchain use cases. Few examples could be new land registries, to KYC applications and smart contracts that enable actions from product processing to share trading.  Besides this, block chains also have the benefit of eliminating fraud, identifying anomalies in the system and exercising robust internal controls.

Currently, blockchain for the industry is what the internet was in the early 90s. There is hope, but at the same time, there is doubt. While some people believe it is going to be very useful, others feel it is adopted by the companies directed towards modernization.

Currently, blockchain for the industry is what the internet was in the early 90s. There is hope, but at the same time, there is doubt. While some people believe it is going to be very useful, others feel it is adopted by the companies directed towards modernization.

Nevertheless, this ambiguity has always been whenever a technological innovation has happened. Blockchains currently are in the growth stage. If one was probe deeper in the details of the blockchains and the way it operates, it might come across as an expensive but a worthwhile investment. If you look at all the sectors together rather than breaking them up. If there is one technology which can put them together for conducting business, it shall be blockchain.

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