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.

Mar
27

Corporate Internship: An ideal time to build your portfolio

The modern way to measure one’s success is probably the amount of information available about them on Google and other online professional platforms such as LinkedIn. And it is almost unavoidable to prove your worth in the absence of a solid online presence, in terms of a profile and portfolio which talks about your career and professional accomplishments. Hence it is imperative to have a reliable online profile and connections with the professional world and people who matter, along with your formal educational qualifications.

Corporate Internship Program

Nearly all management programs from MBA to PGDM, across the globe boast of their ideally created Corporate Internship Programs for their students, and of course it is an integral part of your management education. The 3- 6 months of your internship at a corporate is a part of your journey to learn the art of management, yet this can also be the time you achieve your first milestone of creating a solid portfolio for your future careers and growth. Here are a few steps you can use to utilize your internship time to the fullest:

Using LinkedIn

This is the first and the best way to get started. Make a strong LinkedIn profile and add your neatly written resume along with all the details of your work, internships, summer projects, initiatives taken, and responsibilities handled. Have more industry relevant connections by adding more people to your account, this works a little like Facebook but of course on a far more professional level. One unique aspect of LinkedIn profiles is the recommendation part for your skillset. For example, if you add ‘marketing’ as a skill, you can ask people to endorse you with a feedback or note saying “Stacy has a rich experience and her marketing skills are unmatched. I would recommend her for such roles!”  These recommendations and skills endorsements help strengthen and support your profile can really help you with getting new projects and jobs.

Using Facebook

Yes! You can use FB for professional gains as well, and this doesn’t have to be your ‘only’ FB profile. You can have multiple profiles for different uses. A professional Facebook account can be used to like, share industry and career relevant content like articles, pictures, blogs and you can use the live feature to talk about the events you attend and participated in. Facebook content has a better reach as well, and by becoming members of various professional groups you can reap all the benefits of networking and socializing.

Blogging

If you are passionate about your field of work and reading and writing about it interests you, then without wasting time get on to that blog and start writing about the things that matter to you. Don’t worry about who would read your blog as you have barely begun to work in the industry, it is the very habit and discipline of writing regularly that will fetch you more recognition and rewards in due time. And of course, ever stream of work and industry longs for people who can come up with genuine and creative content.

You can begin with these simple steps and add and edit content to your profile. It is the consciousness of keeping yourself abreast of the changing demands of the digital age, that will help you both personally and professionally.

Mar
27

Big things often have small beginnings

Management students are known for coming up with business plans and income generating ideas but that usually happens after graduation, here a small but interesting story of four FIIB students who have shown early signs of entrepreneurship. Sagar Rajpal (22) resident of Kota (Rajasthan), Mugdha Gupta (22) resident of Gorakhpur (U.P.), Kiranjot Kaur (21) resident of Bareilly (U.P.) and Ishaan Dhingra (24) resident of Gurugram are currently perusing PGDM from Fortune Institute of International Business, and collectively they have come up with their food delivery service called IKMS Foodpal, catering to students living away from home, particularly in PGs and hostels and even the faculty and staff members of their own college.

For many students moving away from home isn’t an easy job and it becomes more difficult when you miss mom’s food! Foodpal the brainchild of Sagar Rajpal, located at Vasant Vihar, New Delhi was the outcome of daily problems that he and his friends were facing ever since they moved to Delhi. The tasteless food served by tiffin wallas or prepared by the cooks at his PG gave him nightmares and adding to his misery were long college hours that left him with hardly any energy to cook for himself. The only solution was to either eat out or order food from outside which was heavy in the pocket let alone the harsh side effects on health.

The group of four decided to give this idea a concrete platform and began working on it.

IKMS Foodpal as their FB page says stands for- Ishaan, Kiran, Mugdha and Sagar Foodpal, they give out daily menu through WhatsApp and Facebook and take orders from the vicinity of their college. Each member heads one department and works in cooperation to achieve their goal of providing tasty and healthy yet affordable home like meals to students.

At Foodpal, Sagar takes care of all the Purchases whereas Kiran looks after funds and everything related to day to day cash inflows and outflows and finally Ishaan and Mugdha together take care of the final product by supervising the chef and making sure that the taste and hygiene of the food is maintained at every level. After an intensive, potential market study the team works on their respective areas, searching and inquiring about the best sources. From procuring vegetables, spices to packing material and delivery everything is planned and worked upon in detail.

IKMS Foodpal has 4 core members, two cooks and a huge support from their families, friends, co-students, and FIIB faculty and staff members. They do have plans to expand their business in future, however, for now, their target is to serve every individual in their immediate circle, who longs for tasty and homemade food at a city unknown and far away from home.

Mar
23

Alumni Relations: What keeps them coming back?

Alumni base is an extending family which keeps expanding with each year, provided the institute makes exceptional efforts to keep in touch and regularly make efforts to bridge gaps. Good alumni relations are not just a vanity factor in establishing the overall image of an academic institute, in fact they work in far important ways than just keeping an emotional touch with the students.

Management colleges probably benefit the most from such relations as there can be no better brand ambassador for an institute than its successful and well established alumni. In fact potential students look for the alumni section the most to see what kind of placement does the college offer and how well engaged is its alumni group.

Invitations for events, conferences, seminars and guest lecture do well in establishing a better network with the alumni however, a few less time and commitment demanding measures can also be adopted. For example engaging the alumni though social media can really work wonders. An active Facebook page, twitter account and a credible and up to date LinkedIn account and endorsements work in building a strong image of the brand. And some of the similar platforms can also help in bridging the gaps between the fresher students and their seniors and alumni, and give a good exposure. Mentoring by alumni groups can also bring a lot of benefits to the new students which can be done through Live Projects and Corporate Internship Programs and regular interactions.

Our Alumni

At FIIB we have a global and robust alumni network with 1920 students graduating from FIIB in past 22 years. Apart from alumni-oriented events, guest lectures, help with GD&PI, industry connects and conferences, and Cultural & Sports Events our alumni are also formally supporting us through an Alumni Advisory Board to help the institute fulfill the mission of the Alumni Association. Which comprises of a Chairperson – Executive Director, FIIB, Chapter Heads (President and Vice President) of the Regional Association Chapters, Batch Emissaries Special Appointees FIIB Members (Alumni Relations Officer, CMC Faculty Chair).

Last year we held two major alumni events: An Alumni Meet and Awards Night: Samanvay 2016, in December 2016, celebrating the achievements and accomplishments of its alumni since its foundation. The event received more than 650 alumni registrations and over 400 alumni attended it. In August 2016, 1st International Alumni Chapter Meet was held to connect with FIIB Alumni working in very senior level positions in Dubai.

Mar
22

Internship at at Birla Sun Life Insurance

For any MBA student, the interim internship is one of the most crucial aspects as it teaches us how the industry works from a first-hand view. For most of us, this might be the first glance into the corporate world. An internship is usually seen as one’s ability to work in a specific function under proper guidance from a mentor in the firm.

When I joined the Fortune Institute of International Business, the first thing I noticed was the previous marks on the notice board regarding their CIP reports. At that point, I did not realize what an important role the experience and the skills I would learn in the 3 months’ internship would play.

When the process started, I was nervous about whether I will get a good company or not. But thankfully, I got through the Birla Sun life’s interview and got selected. I was informed that the work would mostly revolve around portfolio management. As an Investment banking aspirant, the knowledge that I would acquire and the skills that I would develop in this role would help me immensely in the future.

One of the things I have heard most about Birla is their brilliant and helpful work culture which is something I would like to be a part of. Since this would be my first ever “job”, I am mostly excited to be given some real responsibilities other than the house chores I am used to. I am also excited for the training which would revolve around how analysis is done and decipher the best instruments to invest it. On top of that, I am eager to find out how the work is carried out in these large financial institutions. I do however hope that I get a nice workspace which is free from disturbances and also allows me a space for creativity.

I do have to mention that I detest wearing formals and would prefer to be in pajamas all day. So, I do have a bitter thought in my mind regarding that but it is a most welcome change. I do have apprehension regarding my travel route and the timings but I am willing to work through those. Not to forget, I would prefer to see familiar faces around me but I have realized that I cannot have my way everywhere.

Internship at Birla Sun Life Insurance Company Limited

Aishwarya Bajpayee

Class of  2018

 

Mar
21

Corporate Internship Program Anticipation

Finally, it’s time to step up on the first step of the ladder of my career in my PGDM where I dreamt of achieving my goals.

On the very first day of my PGDM, I was very nervous about my future but now once I got selected for the very first interviews where I got some vision to direct my life because I never hoped that I am even capable of doing a Corporate Internship Program and this made me think that how the placement plays an important role in my career.

The selection in the interview for the internship gave me a boost because I had not only got selected in a single company but in another company as well and now I had a proposal of two companies at the same time, the moment I got this news, I was in heavens but now the situation becomes dicier here as it’s about options and things become more difficult when you get many options for the same price. This lands me up in a confused cloud.

So, I took the help of my mentors to get through this confusion and they said “whatever you do, just give your best and you should see your experience instead of seeing companies” this gave me such a relax and great inspiration which made my selection easier.

Now, this is the time to go for the option which I have chosen after so much of anxieties and to this, I selected one of the best companies out of those two but unfortunately, that company has selected some other candidate which they might have probably found better than me.

This gives me a lesson “Never take the things for granted” & “there is always a suitable time for suitable things”.

After all this I finally got the joining letter of the preferred organization that is “Ingenetus Consultants” a start up. The startup puts more and more responsibilities on your shoulders and this will somewhere help me in gaining the in-depth knowledge of the organization to enhance my experience more.

I anticipate that in my Corporate Internship Program I will be able to seek good social experiences as well as improve my management skills because I am a Marketing student and this will help me to make my CIP report best amongst my batch mates.

Student Entry by –
Prateek Monga,
Class of 2018

 

Mar
20

Industrial visit experience at Mother Dairy

As management students, we need to know about different industries, to keep ourselves updated about how they function, how they manage their business operations, how do they manufacture, price, and promote them after distribution, how they identify and meet their customers’ needs and demand etc., and Industrial visits serve as easy means to understand all this.

Mother Dairy- Industry Visit
We recently visited Mother Dairy at Patparganj, Delhi. A company that basically sells milk and milk products to customers. They are presently the market leader in Delhi NCR. We met the Senior Executive of Mother Dairy Plant, who introduced us to their company and the competition in the industry. He explained their entire product line, the reason for pricing for each product, trucks helping in transferring milk from plant to retails shops, advertisements on various print media etc. We learned how their plant works every day, how the maintenance work is done if damages are found, how trucks help milk get distributed in the market etc. We also got an opportunity to interact with the other visitors from various colleges. Then we were taken to see the live plant operation at Mother Dairy, where they demonstrated how the employees do laboratory tests to determine the purity of the milk. Finally, they talked about Mother Dairy’s future plans to expand their business beyond Delhi NCR and how they are going to compete better with their competitors. For a sustainable future, they are using solar panels to save electricity. They also have coin based milk ATMs to protect the environment from pollution.
Learning was immense for all of us after the industrial visit was over but I personally got an overall idea how Mother Dairy manages its brand, maintain good relations with the retailers, and how they estimate consumers’ needs and wants from time to time. I personally felt, many Operation Management principles which we are studying, were being used by Mother Dairy for smooth plant operation.
I hope I get more of industrial visit exposure in future, to know about some more industries.
Of course at the end we were given the customary Mother Dairy Ice Cream!

– Student Entry from Akash Patra

Mar
08

Women: From Motherhood to Mars  

 

Last month in February a news caught our attention that 16 women crew members of Air India embarked on an unusual journey of ‘Women Only Crew’ flying 15,300 KMs in a non-stop international flight, it was certainly a moment of pride that I and many other women take in being a woman. From flying planes to taking the lead in protecting our country on the border to being the Rocket women of India and handling the Mars Orbiter Project, women are doing it all and breaking the stereotypes every day.

However, if you observe closely, women still haven’t got the right share of empowerment and growth as compared to their male counterparts. According to Forbes’s Most Powerful People of 2016, only 6 women’s names made to the list. And there are still parts of the world where women are not treated as first rate citizens and employees. There are many pioneering issues that are looming large and hindering women’s growth globally:

  • Poverty and lack of jobs and opportunity
  • Disparity in wages between men and women
  • Human Trafficking/exploitation
  • Poor health and maternity benefits
  • Social obligations and stigmas

What has gone right?

However, we also see small positive steps taken in the direction of addressing these issues, especially by the government and corporates, for example:

  • Universal Women Helpline to protect women from violence and exploitation
  • Several Training and Employment Program for Women
  • Government initiated Micro-Finance services for women to help them with small home based business set ups
  • Medical benefits and work relaxation during and after pregnancy.

Corporates and MNCs have also taken a few big steps by giving preference to women in terms of recruitments and hiring and even extending the 12 weeks’ maternity leave to 24 weeks, and supporting NGOs that work for the empowerment of women. Be it the corporate ladder or the family structure, it’s all about providing equal opportunities and platforms to women to help them become an equally deserving member of our society and work places.

At FIIB it is our persistent effort to provide equal opportunities for our female students, from internships to placements and acknowledging alumni achievements. Girls make 33% of our student strength and with each batch we are striving to achieve a higher percentage.

 

Older posts «

» Newer posts