May
13

Thoughtful Marketing Enthusiast Turns into a Purposeful Fashion Consultant for Reliance

Anivesha Rai ’24 (Gorakhpur) who came to FIIB with a passion for Retail Marketing has found her true calling with Mothercare (Reliance Brands Limited) where she will be working as Fashion Consultant. She had pursued her campus recruitment sessions relentlessly and attended almost every opportunity that came her way. Her persistence paid off, helping her land up a job she wanted, putting her on the way to long-term career success. 

A dynamic FIIB Racer who participated actively in the classroom as well as extracurricular activities, Anivesha always strived to make the most of her collegiate days. She capped off her time at FIIB by earning the B-Involved’s Gold Achiever Badge showcasing her spirit to take on the challenges and fulfill them timely and thoughtfully. 

FIIB is a place that contributed a lot in my personality development and nourished me to become the better version of myself; whatever success I’m reaping today is the fruit of the mutual dedication and hardwork that every member of FIIB Community seeded in me time and again,says Anivesha Rai. 

Anivesha had opted for Marketing and Operations as her major and minor specializations. She also volunteered in every conclave that happened at FIIB with great level of enthusiasm and secured many certificates as well as experiential skills during her stint at FIIB. Reflecting back on her stint at FIIB she says “My days at FIIB helped me strengthen my core employability skills such as time management, planning, multi-tasking, organizing and working in challenging situations. My sense of accountability has gone up a few notches and it has given me the much-needed confidence to present myself better in a workspace environment.

Out of all the roles she took up en route to her PGDM journey, Anivesha is particularly proud of her role as the Member of the Prose Club and being a Class Representative. For her Corporate Internships she worked closely with Johnson Controls Hitachi in Croma, Ambience Mall (Vasant Kunj) to strategize new B2C sales retention approaches that resulted in a 25% increase in the sales of the product. For her Social Internship she spent her two-months with the Anugraha Foundation where she passionately worked to bring grace to the lives of underprivileged communities across India. 

A well-rounded student who has embraced many career-uplifting opportunities at FIIB, Anivesha says, “I’m honoured to be a part of many experiential learning opportunities that FIIB offers to its students. I was a member of the Youngistan Live Project team backed by ITC, traveled to Dubai under FIIB’s Global Immersion Program, and was also a part of SAM Walton Acculturation Program.” She also acknowledges and gives credit to the FIIB’s mentoring program that motivates students to showcase their true potential and inspires them to achieve their goals. “I really want to thank my FIIB professors who always motivated me to cultivate my own ideas and asked me to choose the path that challenged my capabilities,” said Anivesha.


May
13

Rise of the new-age consumer: Effects of globalization and digitalization

Globalization and digitalization are the hallmarks of the 21st century. While globalization has been a term which has been widely used in the last three decades, the advent of the internet has brought the world much closer, resulting in a much more interrelated world. Digitalization or digital revolution has redefined the meaning and scope of globalization. As highlighted by Hamid Yeganeh in a paper published in FIIB Business Review, “Globalization and digitalization are drastically changing the economics of doing business across borders by bringing down the cost of international interactions and transactions. As a result, new markets and communities are created and small businesses and individuals use digital platforms to shop, sell, and communicate on a global scale.” Globalization and digitalization, he further points out has reshaped the world by transforming the concepts of time, space, materiality, work, wealth, and production. The twin forces of “globalization and digitalization” have resulted in a transformation of the consumption process itself. In recent times, this is most evident in the way the world has responded to the current Covid-19 pandemic crisis. With entire countries under lockdown and work cultures shifting to online modes, consumption has seen a sudden and drastic change.

Yeganesh (2019) further identifies seven consumption trends which he attributes to globalization and digitalization viz. surge in the global middle class and the shift of consumption from west to east; cities as centres of global consumption; the emergence of convergence and divergence between local and global cultures resulting in glocal consumer cultures; short product life cycle; the rising cost of consumer attention; the rise of the digital consumer; and collaborative consumption. The implications of these trends are manifold and can affect all the process of production, supply chain, marketing and sales. These trends and their implication for manufacturers and marketers are explained below:

1.The Surge in the Global Middle Class and the Shift of Consumption from West to East

With a rising middle class with increased purchasing power, Asia has emerged as a big market. The global middle class is expected to rise from 7.6% of the world’s population in 2000 to between 16.1% and 19.4% of the world’s population by 2030. The population in the West, on the other hand, is declining, youth (15-24 years) account for 19% of the population in Asia and the Pacific region. This is a huge untapped market.

2.The Growing Importance of Cities as Centres of Global Consumption

Though cities have always been important economic centres, in the current times cities are emerging as major centres of global consumption with rising urbanization. More than 50 per cent of the world’s population live in cities according to the World Bank. Asia and Africa are witness to mass urbanization with a huge and growing middle class who will account for massive consumption.

3.The Glocal Consumer Culture

Megacities have become cultural melting pots. Multiculturalism and diversity has become flashpoints of the emergence of convergence and divergence between local and global cultures resulting in glocal consumer cultures wherein local cultures are adapting and resisting the global multinational cultures. MNCs on the other hand while trying to retain their global outlook are seen adapting to local needs.

4.The Shortening Product Life Cycles

With the advent of digital media, the attention span of consumers has decreased rapidly. Marketers are faced with the challenge of attracting the short attention span of the buyers. In order to do so they have to innovate faster leading to a short lifecycle of products. Often two or more processes in the supply and chain need to be integrated to enhance efficiency in production.

5.The Rising Cost of Consumers’ Attention

With a short attention span of consumers in the digital era, advertisers with the challenge of adopting innovative solutions to a dipping audience. Markets are flooded with products and copious amounts of information sources buyers can choose from. Advertising and marketing have become more difficult than ever with buyers spoilt with choice and lowering attention spans. The challenge is to create effective and successful advertising campaigns that can lead to higher levels of consumer engagement.

6.The Rise of the Digital Consumer

The new-age customer is faced with the dilemma of ample choices. On every nook, they see a new product which catches their fancy. This is especially true with digital products like laptops, mobiles, tablets, etc. There is more innovation than ever. Customers are not only spoilt for choices but are more aware because of the information resources available. They expect convenience and ease of use along with value for money for the products they buy. Businesses need to look into three main areas to attract and retain their customers: customer experience, personalization, and ownership to access.

7.The Collaborative Consumption

A very important feature of today’s economic model is collaborative consumption or a shared economy. It has transformed our experience as not only consumers but as producers and owners. Collaborative consumption is based on the idea of sharing our possessions. One such example of collaborative consumption is the shared cab system. Collaborative consumption is characterized by bartering, sharing, gifting, lending and leasing or renting. Consumers are empowered individuals and resources are shared. Individuals connect over computers and mobile phones. It is cost-effective and producers and consumers interact often creating a mutual trust. This business model has brought about disruption in the old capitalist models.

Consumption led by globalization and digitalization has brought upon a new and more aware customer. In the midst of the constant changes unleashed by the twin forces, the challenge before businesses is to understand the evolving market and to identify the patterns of consumption and how to mould their businesses to channelize and gain from these patterns.

About the research

Hamid Yeganeh. (2019). An Analysis of Emerging Patterns of Consumption in the Age of Globalization and Digitalization. FIIB Business Review, 8(4), 259-270. https://doi.org/10.1177/2319714519873748

May
11

How Did COVID-19 Affect The Different Domain Roles!

For the first time in world history, we all are in the same boat. It doesn’t matter whether it is a country with the finest medical facilities or a country with diverse religious beliefs, all are reeling under the tremor  that COVID-19 has brought. 


Lifestyles have changed. Approaches to life are different now and survival is the new intention of every human in unison in the current picture. There is no doubt that the outbreak of this virus has adversely impacted the working styles of the professionals no matter which domain they belong to. Business travels plans are getting shelved, different verticals of different organizations are losing their high and employee welfare has taken the front seat. 

In the coming paragraphs we will get to see how different domains are dealing with this unusual stress and how it has affected them. 

Human Resource

With the lockdown not only the offices are shut but also the recruitment processes have become frozen. COVID- 19 has delayed the joining dates of the selected candidates. With a very clear possibility of recession, the recruiters are now narrowing down the wide range of recruitment opportunities that they once provided before this fiasco.

Recruiters now have the responsibility to choose the best out of the lot for their respective organizations. Nothing lesser that the best will work because the organizations now have a disappointing profit and revenue graph. For now, different recruiters are just suggesting people to upskill themselves as much as possible so that they can become eligible for the new standards (that they would like their employees to have) that the organizations will reveal post the lockdown. The recruiters and the Human Resource Teams are now much more futuristic than they were ever before. 

Marketing 

The virtual world is a blessing and this is the only reason why digital marketing exists. No doubt that digital marketing has been one of the most effective forms of marketing and now it has become more of so. With everything at standstill, the virtual universe continues to exist. 

Big firms are now inclining more towards email marketing and through different social media platforms they are running campaigns. The potential of digital marketing was clearly understood earlier and now it has come to full bloom. So, for the marketing domain it is a bittersweet experience now. 

When it comes to the Business Developers for the overseas, several Indian organizations are hand tied at the moment. Nothing seems to work out in this Pandemic. So in this while the organizations primarily operating from India are taking effective measures for setting up their internal Customer Relation Database. The primary objective of Business Development firms is to serve clients first but now in this standstill they are getting opportunities to look after their own strengths and weaknesses more closely. 

With the field Sales, the managers are taking great care of the relationship that they share with their dealers and distributors over the call and digital platforms. This is more of a futuristic strategy so that the sales people can pick up their pace with the concerned business individuals once the lockdown comes to an end.

Retail 

The retail industry is among the worst affected. It is in fact predicted that numerous retail stores will be wiped off soon in different countries if nations will not be able to develop vaccination to fight Corona. Even with e-commerce the tempo of sales has fallen down. On the other hand several retailers of home furnishings and child care have observed that the orders that they are getting are significantly much higher in number than what they were before the lockdown. 

Finance

The economy has lost its balance. The most solid market players are now at their wit’s end. Different financial institutions and bank branches are now closed due to safety reasons. Some banks are opening for short working hours only. The personal contacts between bank advisors and customers are currently challenged. Departments are working from home during this lockdown. For some time, several internal and external services will be available exclusively online. Some crucial paper based processes do not exist any longer. 

This Lockdown is definitely a period of great challenge for economies all over the world. But, one has to adjust as much as possible in this phase. So, developing new skills, brushing up knowledge and making a blueprint of strategies to handle the future are some of the ways that one professional must ace. 

May
11

Top Skills One Must Have To Ace Working Remotely

‘Smart Work’ starting with the alphabet ‘S’ certainly comes much after the alphabet ‘H’ with which we spell ‘Hard Work’. But in the ruthless marketplace, it is ‘Smart Work’ that wins the situation no matter how much of ‘Hard Work’ is put in. It is not a walk through a cake to get work done by working smart. Working smart requires skills and presence of mind to overcome time-draining obstacles. Plus certain skills help us to work from anywhere no matter if there is a curfew, there is a lockdown or be it bad weather conditions.


Let us have a look at all those skills and enable a human to work from anywhere.   

Communication 

Time and again it has been proved that communication is the key. Especially during the season of uncertainties that have been termed as Lockdown, communication plays the central role in the business landscape. Be it video meetings, online chat,  email,  phone and text messages…prompt replies are a must. Hence developing skills to handle Google+ Hangouts or Skype is the need of the hour. 

Motivation

This might sound a little new but it is obvious and it is effective. No matter how much we are blessed with good supervisors, good technology or great internet speed…..if one is not motivated enough to express the best ideas in the work front then all goes futile!

So, talking positively to the self and telling oneself that work will never take a backseat and should never take a backseat will actually pump up the work spirit. The effectiveness will reflect on one’s productivity graph in no time. One has to develop the passion to work and once it is done, it will reflect well through the personality. 

Balance

With humans, it is crucial to be balanced. Especially while working remotely. This is because every boss appreciates an employee who is balanced and that is physical, mental, professional and emotional. To attain balance one requires to break the barriers of shyness, talk to more people and experiment with new hobbies. This way the mind remains sharp and active.

Tech Know Hows

Being tech-savvy is a blessing in today’s world. It is not necessary for your job to be technical but you must be comfortable at taking care of the close to technical parts as well. Digital skills are a must-have to quickly fix problems in the flash of an eye. Know-hows of online collaborative tools, cloud storage, and communication tools go a long way while you work remotely.

Time Management

The ability to manage time is the god of all skills. Despite having the knowledge of the latest topics and technological aspects, if one is not being able to manage time then s/he is losing out an all. The work front will have meetings, projects and deadlines but if does not have the space for time management in the head then all professional excellence will boil down to nil. Hence, charting down what to do during the working hours and setting a deadline to each will make one a time management pro within a short duration.

Independence

Might sound a little out of the box but yes, being independent and self-confident takes one a long way. The current day job seekers look for people with the mentioned skill sets as working from remote areas is the new normal. So coordination naturally becomes a challenge hence the ones who do not whine while taking decisions come a long way. After all the smart decision-makers of today walk up and become the great team players in the future.

Precision 

When people work from remote areas they have plenty of time but unfortunately, they end up getting wobbled up into plenty of confusion as well (not on a general note). In order to maintain clarity one must float clear and concise messages across the different verticals of the workplace. For example if one is required to share a report or a crucial content then reading, rereading, editing and proofreading it is a must call that one must take. Remote working conditions call in for Web Meetings. There too one requires to be ready with what to communicate rather than adding paragraphs of unwanted information.

Collaboration 

Launch of a new product, creating a new campaign or brainstorming on a new idea requires a team. Putting up with a team in the way one chooses to be reflects one’s professionalism. When working remotely this fact comes across even strongly. This is the reason why one requires to be on good terms with the work buddies in order to maintain the culture of the organization as well as self-discipline.

In the season of skull-crushing, mind-numbing balancing of chores and work, one should pull out some time to be a better version of the self. With plenty of time in hand, one can even enrol into online classes to develop a new skill. After all, this is the 21st century and it requires employees who are equally productive inside as well as outside the organization.

It is always a great feeling to see oneself under a new positive light so one must make hay while there is sunshine. This lockdown is an opportunity for working people to upskill themselves in so many different ways. So why to wait for any new year to make a resolution for a new you? Anytime seems perfect as long as one is putting one’s heart and soul into it.

May
08

What is mindfulness, exactly? How can you start practising it right away!

When we were children, we were scared of ghosts and of darkness. Our imaginations and aspirations used to haunt us during the night as we were uncertain of what lied in the hollow darkness ahead of us. Fast forward to the year 2020, we are equally or more scared due to the Corona Virus breakout. We are reeling under so much chaos that we are reading ‘desserts’ backwards when it should be the other way around!


The only medicine that can come handy at this time is not manufactured anywhere else other than inside ourselves. It is ‘Mindfulness’.

But what exactly is mindfulness? Let us explore. 

Being completely aware of what we think and feel is mindfulness. In short, the attention that we pay to our mind, body, soul and surroundings is mindfulness. Our ability to pay 100% attention to what we are doing and remaking engaged in that activity without any distractions is the subject. 

A lot of people simply require to be present in the current moment to fight the gloominess that the lockdown has tagged along with it. Let us see how the act of mindfulness can support us in bashing the stress this season. 

Breathe 3-4-5

It is crucial for us to relax our brain from everyday stress and for that, we require to breathe right. We can inhale for 3 seconds. Hold that breath for 4 seconds and can then exhale for 5 seconds. This helps our brain to focus on the body and the emotions while simply disassociating itself from the gloominess around. One will feel happier and more lively through this practice. 

Commute Meditation 

This style of meditation does not require one to close eyes. One can simply do this while travelling from a place to the other. Or while just sitting amongst the family members during a show.

One is required to pay attention for 20 seconds to the sense of sound around be it loud or low.

Next comes paying 20 seconds of attention to the sense of sight around like the colours, texture, shadow light and etc. 

Up next it is about inhaling the air filled with different aromas for 20 seconds. It could be the fragrance of the perfume, the aroma of room freshener or petrichor. 

Now, one can note the various tastes in his/her mouth like chewing gum, toothpaste, bread or tea for 20 seconds.

Lastly, for the sense of touch, one can feel the texture of clothes on his/her skin, the locks of hair touching the neck or the ear, the touch of one eyelid with the other while blinking. 

This practice is promising and helps one to climb high in the ladder of consciousness. 

Practice STOP to banish anxiety

Keeping calm can get challenging at times and this is the reason why we must ‘STOP’ more often. 

  • S – Stop what you’re doing and embrace stillness
  • T – Take a few deep breaths and observe your breathing
  • O – Observe bodily sensations and your thoughts and emotions.
  • P – Pause frequently and breathe deeply to take up work calmly. 

Get creative

Surf the internet and search for interesting Mandala designs. Pay attention at colouring each and every pattern. This calms down the mind and refreshes it with surety. Also, taking up a diary and writing down thoughts that are crossing your mind can also do great to you. You will have a collection of your hopes, dreams, activities, what-to-achieve list all in one. Painting the most boring parts of your home with vibrant colours will uplift one’s mood easily. 

Cooking and Gardening 

Creativity has no end to it. One can try out making the dish that s/he did  not have in a very long time due to busy schedules. Now with plenty to call in for cooking will definitely destress and once the taste buds will get what it has been waiting for since so long, it will directly trigger a good mood which is just the beginning of a calm and composed mind. 

We require to pay a lot of attention to the minute details while gardening. The more attention we pay, the better results we get (not limited to gardening). So the duration of attention we will put into the greens will relax us as well as soothe our reckless nerves if any and will help us define calmness in the most simple ways. 
The mind should be full of good and creative things. Then only the mindfulness hits the right notes with all our senses. It is never too late for the mind to be still. It is never too late to pay attention to ourselves……probably the only aspect that was getting neglected due to those beeping notifications for meetings and conferences. Happy #ProjectYou. All the best!

May
07

Business Thinking Vs Design Thinking

Design thinking is often misunderstood as business thinking and people do not know the difference between the two. Here is how Design thinking is different from Business Thinking.

  1. Problem Solving approach: Business Thinking is definitive. Things that we generally know about our problems and their solutions. It relies on an equation of proof. It uses defined rules to solve the problems, while on the other hand Design Thinking is an iterative process. It relies on a trial and error and repeated efforts to achieve desired results or close to desired results. This is the reason design thinking is an innovative process while business thinking is not innovative.
  2. Validation of actions: In Business Thinking validation of the actions taken is through what customers say. It often combines qualitative and quantitative research. While in Design Thinking validation is through what customers do. It encourages direct observation. Also it considers usability testing of the prototype.
  3. Problem identification: In Business Thinking problems are identified from market analysis and aggregate consumer behaviour. It collects data on these aspects. But in Design Thinking problems are identified from direct consumer observation and abductive reasoning. It considers the “What might be” approach.
  4. Completion of process: In the Business Thinking process when the strategy phase is completed then only it starts the product development phase. While in Design Thinking the process never ends. In fact it continuously evolves with the customers. It makes sure your product never lags behind the trends.
  5. Focus: In Business Thinking focus is on understanding the results of customer activities. While on the other hand Design Thinking is focused on an understanding of customer activities instead of the results of them.
  6. Tools used: In Business thinking tools used to present the vision on the table are spreadsheets and powerpoint decks. Business Thinking approach is described through words. They are often open to interpretation. While Design Thinking on the other hand uses prototypes, films and scenarios to communicate strategic vision. Design Thinking approach is described through pictorial representations and direct experiences with prototypes.

Thus there is a vast variety of differences in both the approaches. But I would like to highlight the most important quality of design thinking process. Many times we pre determine the problems in business thinking, whereas in Design thinking the approach is to squeeze out all the possible problems first so that at the end we do not regret onlooking other areas as well. So a design thinker becomes a “Problem Finder”.

May
06

5 tips for more mindfulness in life

Mindfulness is being aware. It’s noticing and paying attention to thoughts, feelings, behavior, and everything else. Mindfulness can be practised at any time, wherever we are, whoever we are with, and whatever we are doing, by showing up and being fully engaged in the here and now. It is an art of living in the present without making any judgements and helps us keep distractions aside. Here are 7 tips on how you can be more mindful in life.

  1. Be in present: One of the challenges we face nowadays is that we don’t pay attention to what we are doing in the moment and we tend to think about other things. This keeps your mind traveling from thoughts after thoughts, for instance, while trying to wash the dishes or while waiting somewhere in traffic or a cue. We do not pay attention to what we are doing. Instead we just keep thinking during the task and never pay attention to what we just did. That’s where we have to be mindful. Even when you are doing the most boring things of the day you have to be present in the moment be it polishing your shoes, washing clothes, brushing teeths, reading textbooks, working on projects in company, exercising etc. You have to be mindful of what you are doing.
  2. Start right after your bed: We should start practicing mindfulness right after we wake up in the morning. What we usually do is we just wake up. Feels dozed off. And instead of being mindful. Either we pick up our phones and start looking for texts and emails. Or else we just turn on music or TV. These are the distractions we had. To make it a habit of being mindful every moment we have to practice right after we wake up. Take your cup of tea or coffee. Smell the aroma of tea, see how the sun rises and the bright colors of sky, listen to the sounds in your surroundings. Use your senses to feel the moment. This will set the tone for the day.
  3. Come back without judgement: We all get a lot of time in the day when we have nothing to do. Our brain starts wandering from one thought to another. We shouldn’t try to restrict our thoughts. Let them flow wherever they want to. It is a sign of a healthy brain. But once we get back from the thoughts we should be non judgemental about anything we thought. That’s what is more important.
  4. Start small: So as we now know what mindfulness is we should practice it in a small portion of time. We can start practicing mindfulness in small sessions of 15 to 20 mins. But if you find it difficult to keep yourself focused for this much of time. Then you can even start as little as 2 minutes of mindfulness. But practice it several times a day. This will help you build the habit of being mindful most of the time.
  5. Meditation is the way: Meditation teaches you how to zero in your thoughts and become thoughtless. It is something which helps to stay more focused in one’s life. It also helps you be more mindful in life. So to cultivate mindfulness in everyday life formally train yourself in meditation.

May
05

How has upskilling changed in 2020?

Upskilling is learning new skill sets for the betterment of our professional or personal life. Everything is evolving and upgrading itself for the future scenarios. With the change in time, learning methods do change as well, specifically for us as humans. We have evolved exponentially. Our learning methods too have changed drastically. It is all because we made so much progress in science and technology. When people are upskilled, it isn’t just the people themselves who benefit ⎯ but also businesses, the wider economy in which they operate, and society as a whole. So with the change in time we would like to explain to you how upskilling has changed in 2020:

  1. Seminars: We do have options for seminars to upgrade our skills. These seminars are conducted by subject experts. Seminars are perfect for people who want to take small sessions and want to interact with subject matter experts directly. This gives them the opportunity to ask questions related to the subject. Also these seminars are nowadays conducted using the latest technologies.They use different methods to project their presentations and other things related to the subject.
  2. Bootcamps/Workshops: Bootcamps/workshops are often mistaken as seminars. Though bootcamps are a kind of seminar, they are multi day sessions. So while a seminar may be only for a day or two, workshops are usually conducted over a period of at least 2-3 days. Also they have more than one subject matter expert. These workshops are more interactive and practical in approach. A seminar may sound like a lecture but a bootcamp/workshop feels like a practical class. Also group activities are given priorities in a bootcamp.
  3. Webinars: Webinars are advanced forms of seminars. It solves the problem of geographical barriers in upskilling. This came as a boon with the digital era especially in the times of global crisis like COVID-19. There is an increase in demand for webinars due to lockdowns in countries. This has not only helped individuals but also many corporations to keep their employees up to date with the new trends without spending hefty amounts for arranging seminars, boot camps etc. Webinars are the future of executive development programs.
  4. Online platforms: With the change in the technology, there came a lot of online platforms like LinkedIn learning, udemy, coursera, etc. Which provides a lot of courses. These are extremely helpful for upskilling and are budget friendly as well. You can literally learn anything today over such platforms. Obviously there are some exceptions. But still there is an ocean to dive in and explore your possible skills.
  5. Online college courses: Nowadays there are a lot of colleges and universities which are taking part in this digital revolution. They are making their own digital platforms to attract online learners. This gives opportunity to many learners who want to upgrade their skills from some particular college. Usually these courses are not on the higher side of cost. And one can comfortably take up these courses themselves without leaving their jobs

May
04

Leading in a VUCA world – Finding opportunities in challenges

Leaders all around the world are grappling with highly stressful and uncertain circumstances in the market currently. It goes without saying that Covid-19 has changed our lives in ways that were unimaginable earlier. What’s important is to accept the conditions, act with urgency, and adapt to the challenges. Whether it’s adjusting the business strategy or changing it altogether, it needs to be done. For a leader, what’s utmost important is to manage people and stakeholders involved to keep their morale masteron 200 up and offer guidance when needed. 

For the benefit of our young and aspiring managers who look up to lead one day, we asked some of our experienced alumni, who are swimming through these tough waters, their management secrets. Here’s what they had to say…

Q: How has work from home impacted your organization, and how are you managing it?

A

Tarshant Jain

Head Of Marketing, MoonX.

Co-founder & Global Marketing Head, OZO Life.

“The concept of working from home has always been there, it is just that the VUCA 

(Volatility-Uncertainty-Complexity-Ambiguity) situation is bringing it out more clearly now. With laptops and smartphones, it is simple to get in touch with each other all through our work process during the day. When it comes to management,  the higher authorities just send the regular work instructions and the rest of the hierarchy follows them to accomplish work goals. 

One major factor that works well is the trust factor. The more one is going to trust their employees the better the outcome will be. So we trust each other with our work and goals and this is how we flow.”

Q: Has Covid-19 affected your business negatively or positively, what are you doing to adapt? 

Jagdish Dora

Batch: 2002-2004

Profession: Digital Marketing Campaigns Manager at EY

Well, the old adage, ‘‘Every cloud has a silver lining’’ is coming true in my case at this point of time. In this lockdown the only way out to systematize work is to go digital. The virtual world is our best friend now, and as I am a Digital Marketing Campaigns Manager, I am staying busy like never before! Together with my team we are making sure that we meet each deadline with as much information as possible. Fighting Covid requires awareness and through our marketing campaigns me and my team are just doing that. Reaching people online is not that much of a challenge any longer as almost every working individual is sitting in front of their laptop and using the internet. 

This is the picture that I am making my team focus on. This is our fertile time and the more we work the better we will get in terms of both skills and knowledge. Me and my team are aware that getting extra work responsibilities to shoulder during this crisis is a blessing in disguise for us. Getting a paycheck is almost a miracle and we are making the most of it. This is our ‘Silver lining phase” and we  have well interacted within the team that we must not take this lightly.

Mr. Asim Agha

Batch 2011-2013 

Senior Analyst – Global Logistics- Walmart

The COVID situation has been an eye-opener for people across the globe. This is because, no matter what, every industry and business is becoming more flexible and trying to cope up with this Pandemic in as many ways as possible. As leaders, we are required to ensure that our organizations are not left behind. So Walmart despite having policies of not allowing employees to work from home has come up with applications that support work from home environment. 

In this gloomy situation, it is natural for employees to pick up the pace for the new working conditions. A significant amount of patience and understanding between all the hierarchies in an organization is crucial. Definitely earlier one could walk up to the others in the office to get a task done, but now everything lies at the beck and call of smooth coordination. It will take some time for my organization to adjust to the new normal and we all are trying our best to do so.

Q: Is there a strategy that organizations and employees follow to keep themselves relevant in such conditions? 

Ranjeet Shankar

Batch 1996-1998

Founder and CEO, Glamaxy Essentials Pvt. Ltd.

There will be challenges and there will be solutions. But solutions can only come to those who are looking for them. I as a leader am busy ensuring safety and health for my employees first. This is definitely a setback for the entire organization, but we are not alone in this. The entire world is in the same boat at this moment. The market will fall and that is what the actual scenario will be. We need to be ready for that. In the meanwhile, I believe that employees must upskill themselves so that they can survive in the post lockdown market better. That also applies for organizations in a way. This is the time to quickly act and enhance capabilities to stay relevant in the business. I know it’s not as easy as it sounds, it takes a complete transformation of thinking, sometimes we need to make some hard decisions, save costs wherever we can and be frugal. My team and I are researching the Do’s and Don’ts that could be applied once this lockdown trauma will pass. 

These are some leadership lessons straight from the horse’s mouth – our alumni who are from the top rungs of the corporate ladder. What are your thoughts on finding opportunities in crises? Let us know in the comments!

May
02

Turning a challenge into an opportunity – How FIIB is leveraging the possibilities of Virtual Internships

It is often said that the seeds of success are sown in difficult times, and right now, this whole crisis situation might have come across as an unprecedented sudden stop for everyone across the globe. But I genuinely feel that for individuals who have their vision clear; this is also a perfect time to become an example of hard work and perseverance.” – Prof. Arun Sangwan

It is no secret that the sudden outbreak of COVID-19 has put the spanner in the wheels of many careers. Be it the students waiting to step on the first rung of their corporate career, or employees expecting to add more value to their current job roles, or companies planning for successful on-boarding and training their new hires. This summer is literally turning out to be a big checklist of ‘tasks of hold’ for everyone. 

While for many corporates operating remotely is both a big challenge and the utmost need-of-the-hour, for institutions, on the other hand, successful passage of their students into the corporate world and convincing their corporate partners to not pull the plug on the interns and campus recruits is indeed a roller-coaster ride. Luckily, FIIB has been working dedicatedly towards ‘providing smooth career rides to its students’ and has been able to provide good internship opportunities to its students – that too within two weeks of the beginning of the lockdown. 

“A successful Corporate Internship Program is the key which is going to unlock numerous doors for your future achievements. A crucial part of your professional journey has just begun as momentarily you would be moving from your classroom benches to the cubicles and chambers of corporate. You have done well with your co-curricular and extra-curricular activities at the Institute; however, it’s time to implement these learnings in the field of your work.  Academic education may come with an expiration date but learning is a perpetual process.” Radhika Shrivastava, Executive Director -FIIB

How Did FIIB Make It Work Virtually?

Being a responsible and future-driven management institution, FIIB strives to find ways to bridge its students’ present with the future possibilities and provide them with the practical experiences that help them to become effective leader managers. Accordingly, in the lockdown situation where the students could not undertake in-company internships, FIIB quickly restructured its entire Corporate Internship Program for 2020 and turned it into a robust virtual corporate internship arrangement without compromising on students’ learning in any significant way. 

The management of FIIB is highly confident that with this new CIP structure the students will get an opportunity to learn from a global network of mentors and entrepreneurs without compromising on their usual 8-weeks job training. 

The new restructured virtual CIP at FIIB provides an immersive professional experience to its students and includes mentorship, virtual training, peer-to-peer feedback and certification. The students are getting a chance to learn on real-world projects with start-ups as well as companies from across the world and pitch relevant ideas & solutions to them. 

I have opted for Finance as my MBA specialization and after successfully completing my Social Internship Program, I was eager to experience and learn the lessons and skills Corporate Internship would have in store for me. Unfortunately, the news of the pandemic came out and shattered my desire for learning meaningful functional and managerial skills from the finance corporate world leaders. Right when I was fretting and stressing about my future, Prof. Arun’s mail of ‘virtual internships are on the way!’ hit my inbox, and that brought back my smile and confidence.”Jatin Nanda, freshman year student at FIIB

What has changed while transitioning to a remote-internship way?

From the past 24 years, every batch has experienced the 2 to 3-months job training aka CIP which is a cross-functional experience for them. But, things have changed rapidly in 2020 courtesy the global shutdown! This year is different for FIIB community, but what really matters to us more as a provider of delivering excellence to our student community is one question – Does the transition add up more value for the participants or limit their future scope brutally?

During the time when this CIP restructuring was being piloted, FIIB’s faculty and CMC cell brainstormed the pros and cons of moving virtual. All the design thinking and critical analysis that went into the brainstorming eventually tilted the balance in favour of the virtual internships. It came out clearly that it will give students a much more refined perspective and understanding of the corporate world and a highly time bound, multi-disciplinary and goal-oriented internship, thereby adding far more to the student’s future employability prospects. 

Diversity is the biggest game-changer in the hiring industry. And, being a student of MBA-HR, nothing can make more sense to me than learning from a wide range of global leaders, that too virtually. I mean who could imagine this to happen? Even in a total shutdown-crisis situation, we will still be getting a superior opportunity to learn what matters the most to us and our future aspirations. This restructured CIP approach of FIIB is nothing but a hope in despair to me. I am really thankful to my college for making this happen for the entire 2019-21 MBA batch.” – Bhavya Kalra, freshman year student at FIIB

The traditional CIP is more like a simulation of real workload and work culture. It helps in building on-the-job domain knowledge and improving technical, teamwork, decision making, social, interpersonal and communication skills. On the other hand, the extended Virtual CIP approach is a force multiplier in building an orientation among the students on how concepts are linked with the decision and strategy making in the corporate and how different scenarios are built and tackled. 

Older posts «

» Newer posts