Jun
19

My Internship with Paharpur Group

FIIB has been constantly contributing to my development as an aspiring HR professional. My job responsibility is an end to end recruitment and a major part of my job involves around receiving a vacant position from the various companies of the Paharpur group along with a Job Description that defines my search criteria to hunt for the relevant candidates. I use Naukri.com to source CVs and calls are made to the potential candidates to verify their eligibility and validate their interests for the new job. Only after connecting all dots between the company criteria, job description and the apprehensions & skills of the potential candidate is the candidate called for the first round of interview, which is generally an IQ test.

I am approximately halfway through my internship period, and it has been a great learning experience so far. The 1st year spent at FIIB has facilitated me very well in spending my time in a corporate. The myriad of subjects that were taught in 1st year relating to the basics of business and corporate environment and knowledge of various small operations and processes that constitute a business have proven to be extremely helpful. I was also provided with the necessary guidelines and training before I assumed office and that has helped me in maintaining a balance between office, college, and personal life.

Although I’m in the HR department, knowledge about other departments does help in understanding how corporate functions. For ex-

  • Business Statistics helped in understanding the huge return on investment given by Naukri.com by providing access to over 50 million CVs thereby saving a huge time on headhunting and random calling.
  • Organizational Behavior and Human Behavior in Organizations facilitated in knowing the various functions in HR and how people tend to behave in specific work environments, and also how to see the other side of things or looking at situations from a different angle.
  • Operations Management helped in realizing that Operations are a part of each core function of a business.
  • Business Ethics made me think about the difference between the conventional way of doing things and the best way of doing them. This subject has and will always be a part of my development- both professional and personal.
  • Strategy Management has enabled me to identify the pertaining business practices in the office, and again allowed me to ponder on the best way of performing functions.
  • Change Management allowed me to accept changes, whether good or bad in the best possible way so that my learning and performance are hampered the least.

The first year at FIIB has been vital in grooming me up for the corporate world and establishing a firm ground on which I can lay my for my career foundation on. However, the key takeaway here is that if you are willing to learn, step outside of your comfort zone and expose yourself to new situations and experiences, you will be given ample opportunities and learnings on how to further improve and develop yourself.

-Student entry by Shiva Verma

Jun
01

My Acculturation Program Experience

In the past one year at FIIB, I have participated in many events, but in terms of fun, excitement and learning, this 2-day Acculturation Program was something else entirely. Acculturation means understanding and assimilating the culture, values, tradition and psychology of a different country. This year, the students from Sam M. Walton College of Business, USA, visited our campus for the same. What an amazing experience it was! My teammates from Sam Walton—MacKenzi Owens, Elizabeth Arredondo and Chris Sheldon—were the loveliest people I have ever met in my life. They were really friendly and very funny. My two-day journey with them was totally amazing.

Day 1 started with some business lectures followed by a cultural program in which students from both colleges participated. It was a very entertaining program that acted as an icebreaker between us. We were then appointed teammates, with whom we took some selfies and started our Learning Day activities. We traveled to 3 different places in Delhi, i.e. Iskcon Temple, Lajpat Nagar Market and DLF Emporio mall to understand how management of various activities is done at these places. We also understood how marketing, financing, and operations is carried out there. My teammates were curious to know how religious Indians are, how businesses run and compete with each other, how efficient is our government, social issues Indians face, Indian food and languages spoken by us, and much more. I was happy that I was able to answer all the queries they had in their mind. Even I asked them a few questions about their country, which they happily answered. In between, we also had a nice lunch which they absolutely loved. All in all, by the end of the day we had learned about management system adopted by Iskcon Temple, product pricing strategy and promotional techniques used by business owners at Lajpat Nagar Market and luxury marketing and operations management at DLF Emporio mall. After returning to college, all teams had a pizza break followed by presentations in the auditorium in which we shared our day’s learnings. My teammates were super happy when we were declared winners. We also received Rs.3000 as cash prize.

Day 2 began with Amazing Race, in which each team had to reach a specified location in Delhi using five means of public transportation, with the winning team being the one first to reach. We were given some money to spend for transportation. This was most exciting for my teammates because they had a gala time travelling in auto, bus, E-rickshaw, cab and metro. But, since we could not find the appropriate route to the final destination, we lost. We were disappointed yet joyous at the same time. My teammates also went for shopping and purchased some Indian ethnic goods. Finally, we all went to Hauz Khas Village to party hard.

All the students of Sam Walton College loved the things we did for them. While bidding goodbye, we also exchanged gifts and thanked each other for the wonderful time. As now we have become good friends, we will stay connected even if we live miles away. I would like to thank FIIB for giving me this amazing lifetime experience through this Acculturation Program.

Student entry by – Akash Patra

May
04

Leadership Vs Management

 

Gone are the times when the terms ‘manager’ and ‘leader’ were used interchangeably. With ever-evolving business paradigms and a smarter globally-conscious audience, these terms have come to be interlinked, sure, but are now clearly demarcated. Consequently, to become a trustworthy leader or a better manager, you would first need to understand what the terms mean and entail.

Fundamentally an employee of an organization, a manager is responsible for carrying out four crucial functions—planning, organizing, leading and controlling. And before the term ‘leading’ confuses you, it would be important to remember that even managers can have leadership qualities, but to a certain degree. How efficiently do they effectuate these qualities makes the difference between their subordinates complying with their demands out of will or obligation. The managers also follow certain protocols and use quantitative data to maintain the status quo and meet organizational goals and objectives. Because they are held responsible for their own actions as well as of their subordinates, they enjoy the privilege of promoting, hiring, ousting or rewarding employees based on their performance and behavior.

Leadership, contrastingly, is the ability of an individual to inspire or influence others towards a common goal. Leadership is about three things: to listen, to inspire and to empower. Effective leadership includes strong character and communication skills, along with traits like honesty, integrity, trustworthiness and ethics. A leader is a person who creates an inspiring vision for the future, motivates and inspires people to engage with that vision and manages the delivery of the vision. He finds answers to challenges, shows optimism and provides positive energy to people around them. He is someone who looks at the bigger picture and plans long-term goals accordingly.

FIIB is not just a business college providing a PGDM degree, but rather it’s an educational institution where young managers are nurtured and future leaders are born. It makes us truly prepared for today’s business challenges with quality activities and projects that push us to walk an extra mile, thoughtful case studies that make us think beyond and come up with a feasible solution and exciting conclaves and events that teach us teamwork and leadership. FIIB Alumni who are now spread across the world in top business roles are a testimony to that.

by Akash Ranjan Patra

Class of 2018

Apr
27

5 Business Lessons from Baahubali: The Beginning

Why did Kattapa kill Baahubali? This is the question that’s been irking the cinemagoers after the phenomenal success of the first part. Baahubali: The Conclusion will surely satiate that curiosity. For MBA aspirants, entrepreneurs and anybody with interest in business management, however, it’s worth knowing that there’s more to the first chapter than meets the eye—and don’t we all love what meets the eye?

Below are 5 commandments from Baahubali: The Beginning that when efficiently followed will refine your business acumen and keep you sure and confident, no matter the odds or the competition.

  1. Thou shall research, and then some

Reel Life: After finding out that a spy has stolen the military secrets of the Mahishmati kingdom, Sivagami (Raj Mata) sends both the princes—Baahubali & Bhallala—to catch him and extract valuable information on possible threats.

Real Life: An integral aspect of any business venture is extensive research, be it about target customers, marketplace trends, production processes or financial practices. This can help you predict trends, spot opportunities and avoid potential problems.

  1. Thou shall strategise smartly and prepare proactively

Reel Life: To oust Kalakeya from the kingdom, Mahishmati’s core leadership comes up with a sound game plan backed by effective strategies. From checking out all possible means to make a foray into the enemy camp to deploying all available resources, the leaders make their way into the battle field prepared and confident.

Real Life: In the business world, the importance of setting lucid goals and preparing for contingencies can’t be stressed enough. It’s only when your employees make rational decisions and come up with pragmatic strategies do they nurture excellence.

  1. Thou shall use thy resources creatively

Reel Life: Partial towards his son, Bijjala Deva provides Bhalla Deva with the best weapons, while Baahubali is given inefficient second-grade weapons. Considering this an opportunity to innovate and improvise, he devises a way to use an oil-drenched cloth to set his enemies ablaze.

Real Life: In any business venture, especially in its nascent stage, there will always be the dearth of resources. But a leader should always take this opportunity to come up with innovative solutions and creative strategies to gain an upper-hand against the competitors.

  1. Thou shall inspire

Reel Life: Seeing Kalakeya’s army invade their territory, Mahishmati’s army loses all hope of victory and begins chanting about death. It is then that Baahubali rises to the occasion to use his motivational skills to encourage his comrades to never give up and give their best.

Real Life: It’s only when employees start losing morale or motivation at the workplace that a necessity for a true leader emerges; a leader who will not only stand steadfast with them but will also resuscitate their impetus and inspire them with an example.

  1. Thou shall not allow ambition cloud compassion

Reel Life: During the war, Kalakeya holds the innocent citizens of Mahishmati as a defence against the incoming attack. Bhalla Deva, blinded by his thirst to kill Kalakeya and become the king, remorselessly rampages through the citizens and kills a lot of them. Unlike Bhalla Deva, Baahubali first secures his innocent people before proceeding to attack Kalakeya.

Real Life: Instead of just focusing on acquiring market shares and winning over the competition, any business venture should first concentrate on the well-being of its stakeholders—a big part of which are its employees and workers. A leader should always remember that care and compassion are as integral to a company’s growth as ambition and vigour.

For leaders of tomorrow who aspire to become Baahubalis of their respective domains, there can be no better place to hone their skills and begin their epic journey than at Fortune Institue of International Business.

Apr
17

Learning inside Vs. outside the class – CIP Journey

Recognizing the need for our future leaders to operate in a global setting, the PGDM course of the college focuses on providing all our courses provide relevant multinational inputs that help learn the best practices in differing socio, legal, cultural environments.  As a summer intern, our students are assigned to projects from various companies. Assignments cover various areas of work throughout the specializations Marketing, Finance, Human Resource Management, Operations Management, Information Systems Management, International Business, Strategy, and Entrepreneurship.

While most of our students have already joined most of the Big 4 organizations for their Internship, we spoke to Akash Patra to give us some insight on the difference he spotted in the classroom learning and learning outside the campus.  Here’s what he had to say:

In order to be a successful manager, it is important to get corporate exposure, which is possible through application of therotical concept into practical one’s.  1st year at FIIB, taught me basic concepts from diverse subjects of management. Individual and group assignments gave me the understanding of working in a team and better understanding of  subjects.  After I used different concepts of class room learning while working on projects in various subjects,  I knew how and where to apply them, which increased my understanding of the fundamental concepts and it’s applicability. Guest lectures were also an add-on for me in understanding various management concepts and thier implementation in the industry.

Understanding concepts in a classroom and applying them practically in real life work environment is a whole new ball game. Internship at Birla Sun Life Insurance is  coming out to be a great opportunity for me to showcase my skills to the company and at the same time get maximum learnings from my 3 months of work. To me, Skill=Concept+Application and Learning=Mistakes+Failures. My 1st week at Birla Sun Life Insurance was really a good start. My primary duty is to make a communication strategy for Birla Sun Life Insurance by analyzing consumer behavior data, understand their values and belief and matching them with Birla Sun Life Insurance product. This is a pretty exciting project to work on and I as an intern will contribute to the growth of Birla Sun Life Insurance.

Internship at Birla Sunlife.

Apr
10

Careers in the area of Sustainability Development

While looking at the recent jobs and career options in the field of management, I couldn’t help noticing job profiles such as Specialist-Corporate Environment Social Responsibilities, Manager EHS (employee health and safety) and many more. Clearly, in the past few years both govt. and the private MNC sector has seen a creative change in the job market with interesting, yet skill based careers slowly taking lead along with the conventional career options. The increasing numbers of careers evolving in the field of sustainability (development) are not only a good news for the job seekers with a management education as their background, rather it also generates hope that we are doing our bit in promoting the cause of sustainability.

Almost two decades ago the study of management became utmost important for job seekers or even tenured employees to get to that next level or get a dream career. However, with the fast changing world and its political, social, and environmental upheavals it has to lead the world leaders and policy makers to give the long due attention to the safety and sustainability of this planet and its environment.

Contrary to the popular belief, sustainability isn’t an area limited only to the students and scholars of bio-technology, rural management, and social work. In fact, a plethora of options is available for the students of management as well. We can’t really deny the advantage that a student of management gets over other candidates as almost all the working models in various organizations now work in accordance with the rules and dynamics of management.

Leading organizations now have a prominent CESR (corporate environment social responsibility) department, which takes care of handling and generating initiatives to protect and nurture the society and the environment at the particular scale. This may include MNCs adopting an entire local village and taking care of the children’s education and health, planting more trees in the vicinity, organizing sustainability awareness events for the employees and the locals, or even encouraging their employees to observe carpooling and using shared rides to help reduce the traffic on the road and leaving a smaller carbon footprint.

There is a widespread belief that sustainability is a sector fixed for social workers and selfless people who have no big/real career aspirations, and a regular job aspirant can never really make a decent earning out of it. Thought times are changing and the world over the youth is talking charge of protecting their environment, however, it may take a few more years for sustainability development to become a full-fledged sector and the preferred choice of the fresh graduates and experienced professionals alike.

Again the onus will be on the education sector and parents to some extent, to inculcate the values of respecting and protecting the environment in the children and the youth which would fill the gap of learning about it only as a social cause which only belongs to NGOs and social workers who.

To know more about sustainable activities in FIIB, visit our website here.

 

Apr
06

The benefits of a study abroad program.

A study abroad program can bring one the most important significant changes in a management student’s growth and learning. Here, we are talking about different ways in which a study abroad programs can work wonders for the students:

Practical learning: Based on your college/university, you may go for 3 years, 1 year, or a month long study abroad program, but an unmatched learning is guaranteed. Visiting a country is a wonderful opportunity to not only enhance the knowledge of a given subject but also expand your exposure to a new culture, customs and traditions and how people do business and what are the values and beliefs they uphold. For example, one student who went to Dubai, was excited to know about Islamic Banking and its norms, a practice, he only heard of but never really saw in action back home.

Cultural exchange: In a new country you can pick up activities and interests which are usually uncommon back home. For example learning a new language, learning a new skill like: pottery, painting, a traditional dance form, and of course cooking! And through all this build friendships and bond with people around.

Opportunities: to support your study program, you might want to have a side earning in your free time. From working in a corporate firm to working in a restaurant, the opportunities are in abundance. This would also look good on your CV and prove how resourceful and hardworking you are. To be able to grab a job with your studies that too in a foreign land, is totally an achievement worth mentioning on you CV and can improve your chances of understanding the work culture and social fabric of that country. In case you are required to write a report/project on your study abroad program, your experience will come handy and you can mention all personal experiences and encounters.

A holistic development: in case you are already familiar with the language of the new country then your stay can work as an opportunity to polish your language skills by practicing with the natives. On the other hand, if you go to a country where there is a fair chance of picking up another language or accent, it would also serve as an opportunity to learn a new language. Together, becoming proficient in a language and learning a new one almost always works in your favor during a job hunt or further internships. Also, once you graduate, you might want to go back and find an employment opportunity in that country and your language skills will put you in more comfortable situations with the locals and in day to day life.

At FIIB, every year a study abroad program is conducted for its second year students, right after their 3 month long Corporate Internship Program. In the past, students have been taken to locations such as Slovenia, China, Finland, and Dubai. Apart from experiencing the thrill of traveling to a completely new location, we ensure that our students get to the very core of how management takes place at various working setups in those countries. This program gives them an experience which is unmatched, in terms of global exposure and lateral thinking.

Apr
04

Why Business Analytics?

The theory of bounded rationality proposed by Nobel Laureate Herbert Simon is evermore significant today with increasing complexity of the business problems; limited ability of the human mind to analyze the alternative solutions and the limited time available for decision making. Introduction of enterprise resource planning (ERP) systems has ensured availability of data in many organizations; however, traditional ERP systems lacked data analysis capabilities that can assist the management in decision making.  Business Analytics is a set of techniques and processes that can be used to analyse data to improve business performance through fact-based   decision-making. Business Analytics and Business Intelligence create capabilities for companies to compete in the market effectively. Business Analytics and Big Data has become one of the main functional areas in leading companies.  Analytics companies develop the ability to support their decisions through analytic reasoning using variety of statistical and mathematical techniques.

INDUSTRY SPEAKS ON ANALYTICS:

  • A report released last spring by the McKinsey Global Institute predicts that by 2018, the United States could lack 140,000 to 190,000 workers with deep analytical skills and another 1.5 million managers and analysts who know how to use analysis of large data sets to make effective decisions
  • Global executive search firm Heidrick & Struggles estimates that India has 50,000 highly qualified analytics professionals, but demand is running at five times this number, says C K Guruprasad, the consultant for the technology practice at the firm.
  • Consulting firm McKinsey estimates that India would need 2 lakh data scientists in the next few years. The extent of hiring for analytics can be gauged from the fact that a single company Wipro, already has as many as 8,000 people in analytics functions, as per a Heidrick & Struggles report.
  • Companies such as Amazon, Google, HP, Netflix, Proctor and Gamble and Capital One use analytics as competitive strategy
  • Capital One has managed a profit of close to $1 billion in their credit card business in the recent past, where as many of their competitors have shown a loss of several millions in credit card business.

ABOUT THE FIIB AND IBM PARTNERSHIP

IBM business analytics

IBM and FIIB have partnered to be recognized by the industry and academic world as one of the preferred locations for acquiring relevant analytical skills with specific focus on managerial decision making and strategy using sophisticated software. The collaboration has resulted in providing FIIB with latest analytical software content, practical industry experience, hands on Business Intelligence & Business Analytics lab courses, best practices, and case studies.

The unique feature is the IBM Business Analytics Lab set up in the college premises, where relevant IBM Software is provided to facilitate:

  • Multi-year curriculum adoption on Analytics
  • Faculty Development Program at Campus
  • Students training conducted both by University Faculty Members & IBM SMEs’ on   regular basis
  • IBM Courseware (offline and on-line)
  • Co-Branded Certificate / Diploma / Degree Program

To help students and professionals to jump start their career FIIB announces on ‘Analytics for All’ program in collaboration with IBM. Click here for registrations and more info on the program.

Apr
03

Reflections from the ‘Closeted Conversations ‘

The theme of ‘Closeted Conversations’ and discuss ‘Women of Substance’ as a broad segment was being presented in the conference which was held by shift series. Speaking on different aspects of empowerment and equality, women change makers such as Pooja Bhatt, Sarwar Khan, Namrata Joshipura, Shreiyah Sabharwal, Prakashini Tomar (Revolver Dadi), Sundeep Rao, Kavita Arora, Sonali Rastogi, Nithya Shanti, Ashwini Bhadur, Shalini Kochher, Ani Choying Drolma and Sonal Munjal took to the stage to share their experiences.

Revolver dadi share her story from where all she started her shooting and how she attained her dream of becoming oldest sharpshooter in the world. She started the conversations telling the background of village and the culture of her village where girls are not allowed to step out of their houses but dadi break all the stereotype she began learning to shoot by chance, when her granddaughter wanted to learn shooting. At practice session dadi accompany her granddaughter. From there the actual journey was started where she learn those skills and won 25 national championship throughout the India. I really like her determination and confidence on dadi and one thing which she said in conference is that I like to quote here is education is the only medium which will provide platform to all the girls and girls are not behind the boys in any term they can become more successful in right platform is being provided to them. Revolver dadi gives training to girls and 20 girls from her academy  played internationally. She comes from the place where the girls and women are supressed and being dominated by male but dadi gives tough fight to all the rules and reached here where she is being recognised in such a big platform I really salute revolver dadi.

Sonali rastogi:-

She is very successful business woman and a very successful architect and the owner of morphogenesis. She is also the cancer survivor. Her journey is the true inspiration for many person. She narrated her emotional journey of the fight with the deadly disease in the session A Life by Design. To her, design is a result of different stimuli, ranging from climatic conditions, urban fabric, local traditions, and human activity. She always tries to find silver lining in the bad situation which always keeps her inspired and motivated to fight against difficult and odd situation.

All this stories helped to explore our identity and change mind-sets in the rapidly evolving society. This experience is unforgettable experience which bring shift in our thinking.

Student Entry

Mansi Rawat 

Mar
28

Shifting Thoughts – Richa Singh

As a student of management, in past one year, I have attended and participated in a variety of events, conferences, summits, and seminars, and heard some 50 speakers so far and we tend to learn something good from everyone, however, last week, I got the opportunity to attend the an exciting conference “The closeted conversations” organized by the Shift Series with my fellow students and FIIB faculty. I would confess that by far this was the more interesting events I have ever attended.

The event served as a platform for speakers and representatives from various walks of life. From authors, to Bollywood actors, to rural champions to an unusual stand-up comedian, the event was a celebration of talking to people about what matters to people in a day to day life, irrespective if their backgrounds and social standing.

The first speaker was author Sandip Roy, He talked about his book ‘don’t let him know’ based on family secrets. He shared his experience about being invited to attend an LGBT conference in Mumbai and how his mother was excited yet ashamed of telling it to people the people. He reflected on the sad and closed mentality of our society and the widespread unacceptance in the Indian society of the LGBT community.

The event further proceeded by a panel discussion body image with panelists: Namrata Joshipura, Designer Nonita Kalra, Harper Bazaar’s Shreya  Sabharwal, Model and an actor .  Nonita Kalra taked about ‘making beauty accessible’, and we should all see that It’s fashionable to be intelligent. The panel raised the issue of women being defined by just sizes. She further talked about creating a support system to help women come out of their ‘insecurity’ and leading a fit body with a fitter mind.

The next speaker was probably my favorite ‘Revolver Dadi’. She told about her inspiring story of becoming a National Champion in shooting and how she fought the stereotypes against women in her village. She gave a message to the audience to educate girls and empower them. Next, was a performance by a visually challenged standup comedian, Sundeep Rao, who talked about his journey and why he took an unusual path to a career often not taken by even visually normal people.

We also heard Kavita Arora, a counsellor, who reflected on the sad and horrible truth of drug addiction and alcoholism amongst the youths in the country, and revealed some shocking facts that the average drinking age in Delhi is 14 years. She concluded on the need to tackle this issue and secure our future generation from getting trapped by such addiction. Sonali Rastogi, a cancer survivor and an architect, talked about her hardships during her battle with cancer and how she came out of it with the support of her husband, and learnt to cherish life and live every moment of it as “queen-sized”

I was excited to listen to Pooja Bhatt, a celebrated Bollywood actor and director, as she spoke about getting out of alcoholism and how depression surrounds us in the most unpredictable ways.  She talked about her parent’s divorce and concluded that families are made by ties in heart, and people should have the guts to come out of toxic relationships, they are not comfortable in. At the end a happiness coach, Nithya Shanti gave the audience the mantra of being happy awakening the Buddha within us.

The event actually helped shift my thoughts. It provided me with the platform where I got the opportunity to listen to the stories of some accomplished change makers, out of box thinkers and inspirational people. My perspective towards life was definitely challenged and I found myself far more optimistic towards life after listening to such stories. I hope I maintain this positivity for the longest time.

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