Jan
13

5 Books every Student must Read

Ralph Waldo Emerson said “if we encounter a man of rare intellect, we should ask him what books he read.” We live in the digital age and like many other good things people have invented and found alternatives for books too, whether in the digital form or with the kindle versions. Whichever form one prefers books would always remain the undisputed best source of learning and gaining knowledge. Students and young entrepreneurs particularly can learn a great deal of things especially from the biographies, memoirs and self-help books written by renowned established businessmen, industrialists entrepreneurs. Though not everyone is fond of reading and one person’s taste may completely differ from the other person, there are a few books that are read and appreciated by a variety of people across the globe.

Here is the list of 5 such books, from completely different genre yet everyone including management students can learn a lot from.

Steve Jobs by Walter Isaacson

1

They say “his personality was reflected in the products he created”. Many would agree that our generation should feel indebted to Steve Jobs for his revolutionary inventions under the brand ‘Apple’. In this biography by Walter Isaacson, the reader can not only read about Jobs’s quest of creating something which no one else has ever done rather know about his really weak points and challenging times. The book also serves as good case study of the rise of a revolutionary digital age.

The Road Less Traveled by M. Scott Peck

2

This book till date, stands as the ‘big daddy’ of all the self-help books. Narrated with stories and self-accounts and examples of how courage, positivity and hope can really instill a new confidence in anyone at any stage of life. People struggling with challenging situations and hopelessness, have a lot to learn and unlearn with this book.

Steal Like An Artist by Austin Kleon

3

This is another creative entry under the self-help genre, but with a rather witty and practical twist. Kleon has cited examples of people from bizarre backgrounds and times, to help people understand the importance of being creative with one’s work. It can also be called an idiot’s guide to success and accomplishment. Young entrepreneurs can really benefit from this one.

The Happiness of Pursuit by Chris Guillebeau

4

This one is a super interesting compilation of real life stories, adventure, world travel, food, passions and the world in general and the interesting people who live here. This one can be the source of true inspiration for those who fear changes in life and career and chicken out when it’s time to make a few bold decisions, along with exciting stories of people who have dared to think out of box and lived true to their passions.

Lean In by Sheryl Sandberg 

5

An international best seller, this one is by the COO of Facebook, Sheryl Sandberg who talks about the inequality prevailing in the job market internationally. Sandberg touches upon the good and bad work cultures and practices across the industries that one needs to pay heed to before venturing out in the professional world. Though the book was tagged to be a Feminist version of the story, however, professionals, irrespective of their gender can benefit from it.

 We hope that you get to read these and many more interesting books in this year. Stay tuned for our next list of “7 Books that all management students should read”.

Jan
12

Revive the Resume

So it’s time to answer the age old question “tell me about yourself!” yes, the time of interviews and placements. But first things first, your resume or popularly known as the CV is the first crucial stage of your hiring process. You can’t really neglect the importance of a well written and well drafted resume. In fact business school and training centers pay a lot of attention to guiding and counseling students about how to approach resume writing and how to improve one’s chances of getting hired by a powerful and articulate resume.

Highlight what all you have little, however small it is

When one appears for job interviews right after graduation or post-graduation, most students lack the work experience and are majorly fresher. However, whatever little experience you gained in all these years can work in your favor and improve your chances of recruitment if you know how to present it well to the interviewer/employer. For examples, you can talk about being a Captain of your School club, handling an inter school competition, working in a live industry project, attending debates/seminars/conferences regularly, putting up kiosks for brand or your own school or college. Or maybe some community work you did or supported a cause or an NGO. You can collate this experience and portray yourself as an active and contributive member of the society and an individual who takes risks and initiatives.

Get recommendation of your work. Using online portals

A good feedback of your work and assignments can always come handy to bring up during an interview. You can gain these recommendations by taking feedback of your work and performance from your professors, mentors, or people you worked with during your live projects and summer internships or maybe from a former employer and manager. You can also showcase your experience and recommendations with the help of a few online portals like LinkedIn, PartnerUp, and VisualCV where professionals unite and help each other highlight their achievements and skills.

The good habit of proofreading

Always, always, always proofread before you publish, share, or print your resume. This golden rule never changes or goes out of practice. You may think that you framed a nice sentence in your resume, however, when the recruiter read it, he/she might not understand or misunderstand it completely. Always read and reread and reread your resume before sharing it with someone. That includes reading for spelling and grammar or punctuation errors or updating an information. For example, making changes in your academic accomplishments from ‘pursuing’ to ‘completed’ or adding a few lines about your recent work experience.

With preparing a good resume don’t forget to back it up with appropriate confidence and credibility and correct information when you finally get the call and meet the potential recruiter and employer. Ensure that you know your CV completely and are ready to take any questions and query on it with complete knowledge and confidence.

Pick the right words. Represent solutions

By offering a role to you, the recruiter is looking for positivity, solutions, and assurance of quality from you. And the way you talk and the kind of words you use, reflect your character and strength. Hence carefully chose the words you use during an interview and of course refrain from sounding cool and cheeky and maintain professionalism by speaking only when required and speaking what the employer wants to hear. Avoid using words and phrases such as ‘obviously!’ ‘Are you kidding me?’ ‘I don’t believe you!’ or the verbiage of uncertainty ‘I can’t really tell’ ‘hmm depends! For using such statements you might make your chances of getting hired, bleaker.

Jan
11

Delhi: Dare to Dream

Delhi is a soldier’s town, a politician’s town, journalist’s and diplomat’s town. It is Asia’s Washington, though not so picturesque, and lives by ambition, rivalry, and opportunism.” – Jan Morris

Jan Morris’s poetic definition and description of Delhi sounds good. But from the time it was penned down to the day, Delhi has changed in more ways than one, and particularly for people who are new to Delhi. One of the most important reasons why people come to Delhi is good education. Every year Delhi sees a fresh lot of students for various courses in schools and colleges,

Every state and city has its own set of attractions, benefits, and challenges, and Delhi has always had a reason to be in the national and international news, for reasons such as the Odd and Even traffic rule, International Yoga Day celebration or the monuments. However, for students and career aspirants who are new to Delhi or are planning to move to Delhi, it could be a daunting task to make up their mind and take a decision

A melting pot of culture

You can’t really tell which community dominates Delhi, or what is the most popular cuisine available here? Because Delhi is the true epitome of ‘a melting pot’ where vivid cultures, religions, trends and even nationalities come together to live and enjoy life. You can also witness art and culture from around the world through painting exhibitions and cultural festivals and events. So, from fabric to food and everything important and imported in between is available here.

Trusting people

On one hand you can find people in Delhi from all parts of the country and even the world, one must be careful and observe caution before trusting someone. Be it shopping at the Sarojini Nagar and Lajpat Nagar markets, or taking an auto rickshaw ride to the Red Fort near Old Delhi or buying tickets at the ISBTs, one has to be careful and must take his/her time before making a purchase and agreeing to someone.

Food and food, and more food

Delhi lives by the motto of “Your wish is my command”. Name the food type and cuisine and you will have it here. From Punjabi to Mughlai, South Indian, French to Lebanese, there are dedicated markets and chains of restaurants in Old Delhi to Connaught Place to the roadside Dhabas of Kutub Institutional Area, to satiate everybody.

All the seasons in the sun

India is blessed with 6 different seasons and so is Delhi. So, except for a snow fall you can enjoy almost all the weathers in Delhi from the gloomy yet romantic winter, to spring and the seasons of flowers, to the cool showers of the monsoon. And Delhi’s proximity to hill-stations and tourists attraction such as Himanchal Pradesh, Uttrakhand and Rajasthan can be an added advantage during long holiday season.

It wouldn’t be an exaggeration to say that Delhi is a mini-model of the world. From posh living areas to broad roads, historical monuments, theatres, world class malls to Delhi-Metro to the world’s best International airport- Terminal 3, Delhi has kept its promise by offering something for everyone.

Jan
09

The Recent Demonetization and its Aftereffects

The Modi Government on November 8, 2016 demonetized Rs.500 and Rs.1000 notes amounting to Rs.15.44 lakh crores which accounted for around 85 per cent of the cash in circulation. The last date for surrendering the demonetized notes to the banks in the normal course was December 30, 2016. The Government was probably hoping that around Rs.2 to 4 lakh crore worth of notes in circulation would not be surrendered to the banking system, thus leading to a windfall gain for RBI and in turn the Government. However, according to unofficial reports, most of the demonetized money has come back to the banks. According to a report by Bloomberg, quoting sources in the know, banks have received 14.97 lakh crore rupees ($220 billion) as of December 30. Thus it would appear that the windfall gain would not occur, and the RBI/ Government could hope for around Rs.0.50 lakh crore to Rs.1.00 lakh crore of demonetized money not to be claimed by the holders.

demonetisation
As against this, an initial estimate made by the Centre for Monitoring of the Indian Economy (CMIE) arrived at a figure of Rs.1.28 lakh crore as the cost of demonetization, which included the costs of printing and distribution of new notes as well as production losses in the economy. However, as on December 30, the amount of notes re-issued was only about 44 per cent of the surrendered amount. This would mean that it will take another couple of months for the situation to normalize, which would imply more pain to the economy.
Does this mean that demonetization has failed? We should not arrive at a hasty conclusion. Some of the money that has come back is black money. Most estimates indicate that about 20 to 25 per cent of the money in circulation in high denomination notes was black money, i.e. about Rs.3 to 4 lakh crores. This means that the tax authorities would have to follow up on suspect deposits to identify the black money and then impose penalties, which could amount to about 85 per cent of the money deposited plus penalties. However, identifying this quantum of black money is a humungous task for the Income Tax Department.
Further, the Government gave an option to pay 50 per cent tax on the unaccounted money, provided it is from a legitimate business and not from drugs/smuggling/terror etc. The Government would keep 25 per cent of the amount interest free for four years, and tax payers would have 25 per cent of the money in white initially, and a total of 50 per cent in four years. Some tax avoiders are expected to take advantage of this scheme also. So finally, adding up the money not surrendered to the additional tax collected, would probably lead to an overall gain of around Rs.1 to 2 lakh crores.
The hoped for long term gains to the economy include lower corruption, less money available to terrorists, removal of fake currency, faster transition from cash to digital payments, more taxes leading to lower fiscal deficits, more deposits for the banking industry, lowering of interest rates, fairer elections, etc. However, all these gains would be ephemeral, unless there is follow up action. In fact, the note exchange system led to increase in corruption among some bankers and middle men! Also issuance of Rs.2000 notes will help black money generators to hoard their ill-gotten wealth more easily.
The short-term pain for the economy is substantial. There have been considerable job losses for daily wage earners in some sectors. Vegetable and fruit growers have suffered. Standing in long queues has obvious implications on productivity. Purchasing Managers Index (PMI) data shows that both manufacturing and services have contracted in December. The informal sector has probably suffered more, but corporate margins will also be hit. During the period April-December 2016, bank credit growth was only 5.1 per cent, the lowest in decades. D.K.Joshi, chief economist of CRISIL, the country’s leading credit rating agency, attributed the drop in credit growth to demonetization. According to CMIE, new investment proposals have also suffered because of demonetization, as businessmen are not certain when the economy will rebound. “New investments worth Rs.2,097 crore were announced, on an average, per day during the 39 pre-demonetization days from October 1 through November 8. This average dropped sharply by 61 per cent to Rs.824 crore during the post-demonetization period. The number of projects announced per day dropped from 6 to 3 by a similar comparison,” CMIE said. Even before demonetization, not much fresh investments were taking place, and the economy was being driven mainly by consumption push. Demonetization has led to lowering of consumption, at least in the short run.
After standing in lines for nearly two months, the rush at banks and ATMs are thinning out and people have started getting cash in their wallets. And since the banks are flush with surrendered money, they have slashed interest rates on homes, cars, personal loans as well as corporate loans. So, borrowers have reason to smile, even though depositors will earn lower interest rates.
In a few months’ time, we will know whether demonetization will be a success, and that the plan has not left any major scars on the Indian economy. A lot will depend upon whether GDP losses on account of demonetization will be limited to around 0.5 per cent of GDP or will be larger. Given India’s current GDP of around Rs.150 lakh crore, every per cent point lowering implies a cost of Rs.1.5 lakh crore.
As of now, Mr. Modi seems to be winning the perception battle among ordinary citizens as he has been willingly to take a risk by going after the corrupt and the undeserving rich.

Jan
05

I’m addicted to my phone

Do you check your phone as the first thing in the morning? Checking how many WhatsApp messages, how many FB likes-shares-comment and how many followers on Instagram? Or do you find yourself checking your phone multiple times in a short span , say 10 times in just 20 minutes. Clearly, you are addicted to your cellphone and moreover to social media platforms and your presence and image on these platforms.

We can’t deny the fact that Facebook and WhatsApp have become quite a huge part of our daily life. For some, FB is actually an alternative for TV news, catching up with friends, posting life events, making personal and professional announcements, or becoming an actual keyboard-warrior.  in fact, half of the social debates these take place on social media sites like Facebook or a micro blogging site like Twitter.

“Old habits die hard” andt with the advent of new engaging apps and games, it becoming seemingly impossible to stay away from one’s phone. And no particular age group is an exception to this. From a child who can quickly learn to unlock her parents’ phone to play a game to the grandparent who are the real WhatsApp warriors and begin their battle right in the morning with shooting multiple motivational and devotional messages.

The reason why we are becoming an addict to our phones, is probably the reason why we become addict to any other thing in the world, no prize for guessing: We enjoy it! Moreover some people claim that small pleasure like texting, getting recognition on social media or attention online gives the same pleasure we get when we either feel love, lust or even win something.

Solution

Though a few steps may help you curb these pangs. At home, a rule can be made where the internet connectivity can be reduced for a few hours especially when studying or spending time with the family. However the bigger challenge still remains with the children and youth who struggle to focus on studies and feel helpless when it comes to using their phones.

Mobile phone apps such as Moment and Cheecky let you actually monitor the time you spend on your phone including time spend on individual apps and even how many times did you unlock your phone. As for some, the number of time unlocking the phone has been as high as 15 times in 20 minutes. However, with the help of these Apps once can reduce the time they spend on their phones, and utilize it on something rather productive, and give quality time to your tasks, life and loved ones.

Jan
04

Millennials

 

who_are_they

Defining Millennials

The term ‘Millennials’ has been doing rounds on news, social media and business world for quite some time now. And most happening news items too quite often contain this term. So, for convenience we cay that that anybody born in, or after 1984 is at present a millennial, and there may not be anything specific or special about these people, except: there is! These millennials are considered to be the generation of innovators, risk takers, entrepreneurs, and start-up people who are poles apart from their counterparts from other generations. Of course the youth of any country, globally, is the strength of any country and the millennials have proved it right and established themselves as the winners with multiple and myriad fields ranging from business, art and culture to social media, and the most apt example would be Mark Zuckerberg, the father of Facebook and now WhatsApp too.

Who are these people?

If you too are a millennial, you would notice that most of the upcoming business ventures, cafes, restaurants, travel companies, fashion platforms are run by budding business men. In fact at some work places the entire workforce, top to bottom comprises of everyone below 30 years. Stating the obvious this generation has achieved too much too soon by opportunity or by hard work, but they do stand apart from other generations. India being the youngest nation by the highest percentage of youth in a country has seen a clear impact of the millennial wave. Be it young authors or entrepreneurs. However, like all other generations this generation too has a set of challenges and shortcomings.

Impatient, self-loving, fast, low moral values are a few a tags that many people associate with the millennials. And as they say “no smoke without fire” some millennials have really earned these tags, by either wanting all the comfort and abundance in the early months of their jobs. Most of them don’t even want to settle for jobs that do seem fulfilling to them.

Famous leadership author and speaker Simon Sinek, recently said in an interview why the millennials are headed for a failure too early in their lives and what really went wrong in the parenting they received, where they were not given the right proportion of ‘Reward and Punishment’ by the society, and especially by their parents.

They want it, and they want it NOW!

Job satisfaction, equality or zero commitment in relationships, or clear and big career goals are a few things that many millennials advocate for. Frequent job change is another challenge that the job industry faces with the millennials. For they want everything better than what they have in hand. Deloitte’s 5th annual millennial in 2016 reflected that more than 50% millennials didn’t or don’t want to work in the same organization for more than 2 years. Clearly, the attrition rates are heading to an even bigger number.

Stating the obvious, these millennials have definitely set the bar high of what one should except from their jobs and career, and they HAVE worked hard for it. However, many of this generation also find themselves at the threshold of dissatisfaction, and gloom when they can’t seem to be doing something exciting and happening, or leaving and impact. Social media these days is full of travel stories where people quit their jobs and travel the world, or open a café in somewhere in the foothills of the Himalayas or came up with a revolutionary startup idea or minting money by a new YouTube Chanel.

However, not everyone is cut out for the same job profile or lifestyle. The onus is definitely on the individual to measure his/her options carefully. Just because someone had a great start-up business doesn’t mean it is a foolproof idea to survive. And many of course quitting their jobs at the prime of their youth and career, regret it later. Well, the idea is to take everything with a pinch of salt. The millennial work or life pattern may not always go well with the job market or employers and even with one’s family members. Guess, it would be right to say that “The ‘Secret of Happiness’ lies in looking at all the wonders of the world and never forgetting the two drops of oil in the spoon, we hold”

Jan
02

Social entrepreneurship

Few years ago, a few Television ads became a little longer by adding “of every XYZ product you buy, we will give one rupee/or more to…” remember? And there came a wave of popular brands giving back to the society and the environment. From detergent powders to coconut oil to sanitary napkins all brands wanted to make a statement and tell the potential consumers about how socially responsible their brand is. Time changed, the rules and dynamics of advertising and marketing have also changed significantly. From TV, internet, mobile phones to print media, solid Business strategies and campaigns are everywhere. Even government programs are run with premium advertising strategies.

However, profit making or not making may not be everyone’s target. For example under the corporate social responsibility programs, many organizations encourage their employees to do social good by making donations, contributions, or even visit a few NGOs on a regular basis. And some have chosen Social Entrepreneurship as a full-time career, and it has emerged as a new stream of the profession and even profit making in some cases.

Young India contributes

Your social entrepreneurship idea may not be as big as Mahatma Gandhi’s to encourage an entire nation to become self-sufficient by producing salt, or as wide spread as former US President Bill Clinton’s work for HIV-AIDS awareness and prevention. One can start small and start now. In fact many successful Indian social entrepreneurs are as young as 25-26, for example: Aniket Deogar, 26, has a venture named ‘Haqdarshak’, a mobile-based platform to collate information of all government run schemes for the citizens, who’s entitled to what, and helping people identifying which particular scheme they can benefit from.

Another venture named ‘Paperman’, run by Mathew Jose, 28, is about better waste management by working in close collaboration with the scrap dealers of Chennai. This is a mobile-app based program, connecting scrap dealers to potential customers and dealing with waste management with environment-friendly ways.

The ‘Social’ in Social Entrepreneurship

Most of us would tend to purchase things that are either environment-friendly, supporting some NGOs or a social welfare program, however, ‘being social’ in the times of stiff market competition is a challenge of another kind. Brands have to incessantly prove their commitment and promise towards such programs. From Tata Sky’s and Axis Bank’s claim to have the presence in the remotest corner of the country to Surf Excel’s declaration of profit sharing with educational programs for underprivileged children, Businesses are directing their approach to counter social evils, gaps, myths, and inequality in the society.

The hidden idea or motive may yet be profit making, for most brands and entrepreneurs, however, a social message or social welfare objective can really help raise the bar and revenues high. If the world can benefit from your profit making then what’s the harm?

 

Dec
29

Keeping a Journal

Facebook recently showed me my entire year’s activity in an adorable ‘Preview Video’ highlighting my best posts, shares, things I liked and groups and pages I followed throughout the year, and needless to say it was a quick realization that I actually had a good year in the past 12 months. Sifting and skimming through my posts that I wrote whimsically about the city’s traffic, challenges with demonetization, review of a fiction book, I realized that how nice it would be look back at all my past years, provided I had left some diary entries or may be a journal? I believe, most of you would agree with the fact that we love finding things from the past like an old letter or a birthday card or may be a love-note!

This made me think of taking a step ahead and creating a journal for my work too. For example: what did I teach in the class today, how did the students like it? were there some peculiar questions? Or was there another way of explaining a concept? Even as teachers and educators we learn a lot many things from our classes and student each day and writing a journal would be a practice that students too would learn a lot from.

Why should students write journals?

Just like we use FB, twitter, Instagram, and other social media accounts to share our thoughts and activities with others, we can keep a study journal too to record our learnings from that day and classes, moreover, your journal is yours only, not out in the public eye like your other social media posts and this would help in collating and gathering your learning at the time of tests, interviews and even exams.

How often you should write?

A few lines or may be a paragraph each day, you can even write if anything particularly exciting took place that day, like “today I gave an excellent presentation”, “I held an amazing debate today, in the class”, “I couldn’t clear today’s interview, yet these are the three things I need to work upon to perform better next time” looking back at it after a few months or may be a year can actually help you realize how far you came from the last time.

Find a spot!

You can even make writing journal interesting and bring some fun and creativity to it, by writing it with the background of some good music, or sitting somewhere in the open or even near a window or terrace! Good environment helps bring good thought. In fact may people claim that by regularly writing a journal they could really get rid of stress and feel relieved after penning down their thoughts, aspirations and even fears.

Nothing is more exciting than seeing yourself grow mentally, physically and intellectually too over a weeks, months and years.

Dec
28

Away From Home: Mantena Pujitha (Batch 2016- 2018)

My knowledge of Hindi was limited to the Bollywood movies and a few peppy numbers of Ranbir Kapoor, which I realized only when I came to Delhi for my PGDM with FIIB early this year. I am originally from Vijayawada, Andhra Pradesh, and this is the first time I am so away from home to pursue my Post Graduation that too in Delhi. Definitely, it is completely a new experience coming to a state up north. Initially it was not a smooth journey for me because language was a big barrier and I was quite self-restrained and would only have formal conversations with people around me, including my classmates and teachers at FIIB, but as the days went by I learnt to put behind all my reservations and started making friendlier relationships with the students at college which also helped me in polishing my Hindi speaking skills.In fact it became a fun routine for me to speak only in Hindi outside the class, and my classmates too offered help enthusiastically.

FIIB PGDM program

Apart from good friends and learning, FIIB has given me ample opportunities where I could showcase my skills. For example, recently, I was elected as the junior co-head of Jaagriti club which undertakes social initiatives on behalf of the institution and runs many social help and responsibility programs. Which gave me a solid platform to converse with delegates from the corporates and NGOs which turned out to be a holistic experience for me. Recently during the 2nd International Management Conference, organized by FIIB, I was given the responsibility of editing research scholar papers from all over the world, this activity particularly helped me find the scope to learn the methodology of publishing a research paper. Looking back and comparing myself from what I used to feel about education and Delhi has definitely changed in a big way. I would say altogether it is an amazing experience studying at FIIB. I look forward to an even more exciting journey in the next one year here.

IMG_6923

 

Dec
28

Away From Home: Ashu Agarwal (PGDM 2016 – 2018)

Outstation students have a lot to deal with, however, an experience away from home can also be the best you’ve ever had!
Let’s see how our 1st Year PGDM student, Ashu Agarwal likes his first six months at the FIIB campus and in Delhi.

Older posts «