Feb
25

The 7th Sustainability Summit

FIIB celebrates its Founder’s Day every year in the form of a Sustainability Summit to honor the Institute’s founder Mr. R.K. Shrivastava. This 7th edition of the Summit too upheld the similar idea. Since its inspection, the FIIB Sustainability Summit has inspired more than 1900 students, academicians, and professionals, to strive for sustainability based growth model for their careers and businesses. FIIB has also launched the ‘Make FIIB Green’ campaign as a part of its environmental conservation drive. Following the motto of “Reduce, Reuse & Recycle”, the Institute has developed Sustainability Development Centre to work towards aspects such as energy & water conservation and employee welfare. This summit once again served as an ideal and unique forum for Students & Leaders from business, academia, government and NGOs to engage in dialogue in the field of sustainability, with speech and panel discussion on themes such as from the green line to bottom line creating value through sustainability From the Boardroom to the Shop floor. Today FIIB’s founder Mr. R.K. Shrivastava’s motto of “Give more than you receive!” resonated once again in the campus today, as FIIB’s Executive Director Ms. Radhika Shrivastava addressed the participants of the summit and handed over the 3rd ‘FIIB Leadership in Sustainability’ Award to Mr. William Bissell, Managing Director- Fabindia, a brand which stands as a harbinger of sustainable growth model.

A Keynote Address was delivered by Mr. Vijay Rai, Managing Director – APAC & EMEA Markets, Savior US INC & President – NHRDN on ‘Sustainability & its Importance in Today’s Evolving Business & Social Communities’

Following were the dignitaries who participated in the panel discussion on the theme of ‘Corporate Sustainability- Economic, Environmental and Social Developments’, moderated by Prof Partha Pratim Saikia, Assistant Professor, FIIB:

  • Mr. Phil Turner, Group Head Safety, Health & Environment, Vedanta Resources Plc
  • Mr. Manpreet Singh, Director, Climate Change, and Sustainability Services, KPMG
  • Mr. Bibhuti Pradhan, Chief Manager, CSR & Sustainability area, Indian Oil Corporation Limited
  • Mr. Charudutta Panigrahi, President – Forum for Integrated Development & Research (FIBR)
    The panel discussion was followed by a special address by Mr. Swapnil Tewari, Founder- -Livemad Philosophies, ‘Forbes Changemaker 2012’ on the topic ‘Sustainable Development for the Marginalized.’

The last panel discussion was on the theme ‘Social Enterprises in India – The Road Ahead’, moderated by Prof. Tushar Sankar Banerjee, Assistant Professor, FIIB, and participated by the following speakers:

  • Prof. Kuriakose Mamkoottam, School of Business, Public Policy and Social Entrepreneurship – Ambedkar University
  • Mr. Arun Talwar – Chief Operating Officer, Udayan Care
  • Mr. Niraj Gupta, Founder, Weekendworks – Junkart

It goes without saying that all the students, faculty members, and guests of this summit gained a perspective on adopting innovating ways towards sustainability and its application to education, business, and development models, by gaining knowledge out of regular academia. The summit successfully inspired everyone towards taking individual responsibility to make sustainability a personal mission and means to contribute towards making a safer and happier world.

Check the entire album here: http://bit.ly/2lPaPHW

 

Feb
22

Learning the art of Marketing and Marketing it well!

“If you’re a good marketing person, you have to be a little crazy”- Jeff Metcalf

FIIB, Fortune institute of international business

I truly believe in this statement by Metcalf about marketing. I think I am crazy when it comes to following the passion for the field of marketing. Instead of going for traditional career streams like Engineering or Medical, I opted for +2 Commerce and then did my B.com with Management Honors. My honors papers really helped me build basics of Marketing, which included general marketing, service marketing, retail marketing, rural marketing and lots more. Yet, my curiosity level of knowing more about marketing was always higher than others. MBA is one of the popular career options to become specialized in a particular field. So finally, I decided to do my PGDM from FIIB that provides excellent internship and job opportunities in top companies to all marketing students, so that everyone gets the best exposure. I have chosen Marketing as my major specialization, and I have done live projects with few companies in sales and marketing profile. This helped me in applying marketing theory I studied during the classes and guest lectures. Now I have deeper insights about consumer behavior, business buying decisions, and other related marketing concepts. As an active member of the student promotion team, I have marketed many events of FIIB clubs and brought in more footfalls, which in turn taught me teamwork and co-ordination. I have also acquired a certificate course in marketing to add a new skill to my profile. I regularly read marketing magazines at the FIIB library whenever I get time, to myself abreast with the current trends in marketing. I interact with many seasoned salespersons who come to FIIB for guest lectures. I really take interest when they talk about how they started their career in marketing as a freshman and how they managed to achieve their targets and moved up the corporate ladder. During marketing classes and marketing club activities, our professors encourage us to come with innovative ideas and solutions while interacting or working on any marketing concept. All this helps me in stimulating my brain and find solutions to real problems faced by consumers and business owners.

The art of marketing and marketing well!

I have realized that, whether someone opts for Finance or HR or Operations, one has to project himself as a person who is selling his services effectively, and communication is the key towards it. As marketing is all about making long lasting relationships with people. I have worked hard on my introvert nature to interact with people, build friendships. Eventually, I want to  get into an organization in marketing profile, so that I can implement all my marketing knowledge and skills that will contribute to company’s sales growth and profitability.

Student Entry – Akash Patra – Class of 2018

Feb
09

Experience at “The Walk for Life”

We got an excellent opportunity to be a part of great initiative “Walk For Life” taken by “icansupport” organization for the support of cancer patients on 5th February, 2017. The path to be covered was from India Gate to India Gate making a “+” sign.

The walk was scheduled to start at 9 am and me along with my other friend at the prior location by 6 am .we were assigned work of registration and distribution of registration kit to the participants.We also got the t-shirt with “volunteer” printed on it.

The participants came in two categories one came as individual and other in a group. The group were from various educational institutes like DPS, Shiv Nadar School, British School, etc and also organization like KPMG. The chief guest for the event was Manisha Koirala as an inspiration for the cancer patients as she herself has gone through that stage in her life. All the cancer patients along with their families were seated in a special location “Survival Lounge”. The registration of the participants started around 7: 30 am. It was very interesting to see that people were not only on their foot but also gave their support for the cancer initiative by coming on skate boards, cycles and bands. In addition, the most famous “Harley Davidson” Bikers also came for this cause.

 

 

 

 

 

 

It was very heart-filling to see many benevolent citizens coming together to support the initiative. We could boost the confidence of the cancer patients to kick back their past life and turn to new leaf. Our happiness found no limits to see a contentment in the faces of the patients when they realized that many participants took the responsibility to promote awareness on cancer and empower them to live a normal life like the former group. The walk was taken to a large scale which saw media coverage. We also formed groups and walked with the other participants after we were relieved from our duties. This walk also helped to create a conscious amongst the participants to have fit life so as to reduce the possibilities of cancer.

We look forward to attend more events and be a part of another productive marathon so as to promote a different cause.

– Disha Phutela (Class of 2018)

 

Feb
04

Budget Discussion – Student Experience

Life of a management student at FIIB is interesting as many activities facilitate a  vast learning space and extravagant experience. As the union budget was announced, The finance club of FIIB organised a panel discussion on the budget 2017 on 2 February. The session marked an important learning experience in my understanding of the union budget and its effect on the financial growth of the company.  The Budget session was organized as a panel discussion which saw finance faculty from my fortune institute of International Business . Each speaker tackled major issues that would be affected by the union budget. Being a finance student and who is aspiring to have a well-established career in the field, I could learn a lot of theories from the key note speaker, Prof Abhijit Roy. It was also helpful not only for me but also for my peers to understand different dimensions of the budget which we would have not probably comprehended by just reading the newspaper. Faculty also explained to us  the various aspects of the budget in layman’s language without any high- end jargons so that we could easily capture the crux of the topic.

This budget seemed to be very important as this potentially could be  the foundation for the better future for the country after the daring decision of demonetization. Prof. Roy, the first speaker of the show handled the introduction of the budget, the process of formulating the budget. He spoke about the 4 phases of budget viz., Preparation of budget, a careful thought at the ground level as to what is needed and what new initiatives can be started. Secondly, approving the budget where there is a scope of  further debate. Thirdly, executing the budget, in which it is passed and lastly, the evaluation of the budget that includes auditing and other evaluation processes. The panel discussion also provided us insights on the impact of economy. One of the pivotal subject being direct taxes which saw a decrease in the tax rate for income and the additional levy of surcharges for a particular slab of income section.

Budget Discussion 2017

Comprehensively, the budget session has groomed me well , such  that I am able answer any query about the budget and also understand how the budget will actually help in augmenting our economy. I believe this session was equally fruitful for those students who are taking up different specializations as the budget covers all the sections of the business cycle. Now, I can gear up for any questions that I might have to face in the interview processes for my internship program as well as my final placement.

-J Deepthi (Class of 2018)

Feb
04

Start Up Story Renowatt Energy, Nagpur

“I would confess that in the beginning, apart from a determination I lacked all the means to start the manufacturing”
The road to success is full of challenges. Read the true success story of the winners or Meraki2017, who have also achieved a great feat of owning a startup.
Business Plan Competition

Team Renowatt Energy – Winners of Meraki 2017

Inception

It was around the time, I was working at an energy startup, manufacturing LED luminaries. After completing a few months, I learned about the ABC of LED lighting technologies, and eventually learned almost everything required to manufacture LED luminaries, and then an idea struck me about making use of old used lights and reduce the cost of expensive LED lights i.e. customized lights. I would confess that in the beginning, apart from a determination I lacked all the means to start the manufacturing, I didn’t know where to start from. One evening while I was leaving from work, my college friend Dushyant Warshe called me (who is now my co-founder too) and asked me to meet for tea. He was the first person I shared the idea with. As I was short on investment, Dushyant confirmed that he’ll bring the investment. And that’s how we started Renowatt with a vision of making power efficient and affordable lighting solutions.

The Challenges

Once, we were ready with our product we faced a challenge to find someone who would buy it, a customer. We started looking for someone to believe in our product, and we found a petrol pump looking to replace their roof lights with LEDs. We met the officials, pitched them and somehow we got the contract worth Rs. 5000 only. Here came the 3rd member of our team, Ashish Darekar (Who is also my best friend, and is now the head technician of our team, and a student). And likewise we started pitching people about our product and exploring new clients. Stating the obvious, as a startup we faced a lot of negative responses and also valuable appreciation and feedback from many. Now, almost after 1.5 years, we have a valued client base of more than 50 regular Clients, and we have delivered over 500 customized LED Lights with a turnover of 20,00,000 INR.

Clientele and marketing

Meanwhile, we focused more and more on serving the existing clients and provide a prompt post-sale service. It’s been 1.5 years and we’ve expanded our team to 7 people now with each one handling their individual departments from manufacturing to sales, marketing, and post-sale service.

Our branding mostly happens via our association with some big companies in our area (Nagpur District) like Public transport department, Mukund Group, Swetal Enterprises, and some big names in celebration lawns and halls etc. We also serve some govt. tenders as well.

The Path Ahead

Along with the range of customized lights, we are now also in automotive LED lighting and we are constantly researching towards more recycling technologies and further expansion. Also, we are looking to raise a fund of 50,00,000 INR from the market to expand our services and presence all over.

Summing up the journey, it’s all about believing in the idea and having a team sharing the likewise set of dreams and taking all of it forward.

Appreciation for Meraki 2017

We would also like to thank FIIB MERAKI team for appreciating people from small cities and giving us a stage to show what we’ve got. I hope u keep doing such great work and keep inspiring people like us.

Pawan Chapke Founder & CEO: taking care of vision & strategies of the business.

Dushyant Warshe, Founder & COO: taking care of operations & business development.

Ashish Darekar, Co-founder CTO: taking care of manufacturing and after-sale services along with Raj Shende.

Sandip Katole & Samir Ghatbandhe: marketing and sales team consisting

Feb
01

Budget 2017: Quick highlights and Analysis

Major area of focus:

1. Fiscal Discipline

  • Fiscal deficit increased to 3.2%
  • Revenue deficit reduced to 2.1%
  • Net borrowing at Rs. 4.5 lac crore

2. Infrastructure:

  • 3.96 lac crore infrastructure allocation
  • Allocation for Railways Rs. 55000 crores
  • Defense allocation increased Rs. 5.8 lac crore: an increase by 5.8%
  • Higher Allocation stepped up for Rs. 64000 crores
  • Allocation of Rs. 10000 crore
  • Affordable Housing given boost
  • 2 New AIIMS for Jharkhand and Gujrat

3. Reforms:

  • There are almost 11 reform measures
  • Abolition of FIPB
  • Model Law on Contract farming
  • Listing of PSUs like IRCON, IRCTC
  • Increase in Disinvestment targets in PSUs

4. Schemes for Rural area

  • 100% rural electrification
  • More allocation for MNREGA
  • More rural schemes

5. Direct Taxes

  • 5% tax rate for the income tax slab of Rs. 2.5-5 lacs instead of 10%
  • Short term capital Gain period decreased from 3 years to 2 years
  • MAT carry forward period increased from 10 years to 15 years
  • Tax rate decreased to 25% from 30% for Companies below Rs. 500 Million turnover
  • Net revenue loss from Direct tax changes Rs. 20000 crore

6. Indirect Taxes

  • Increase excise duty on Pan Masala to 12% from 10%
  • Increase excise duty on Cigarette (non-filter)

7. Banking Reforms

  • Capital Allocation Rs. 10000 crores
  • Increase in tax provision for NPA
  • Better Legal Ecosystem

 

Quick Analysis: Budget appears to be balanced. BSE index has increased by more than 400 points and NSE by more than 130 by 2.50PM. While there is little apprehension towards GST implementation and increase in fiscal deficit but balanced approach keeping into above highlights.

Jan
24

On a Journey of Knowledge and Quest: Akash Patra

I am a 1st year PGDM student at one of the finest MBA institutes in Delhi named FIIB. I am from Bhubaneswar and it was my dream to come to Delhi for higher education. And it came true when I stepped into FIIB. Honestly,  I consider myself to be lucky enough to get into a college with excellent and experienced professors and my college mentors who guides me in taking every decision of my career.

Not only teachers but the amazing friends I have made at the college here, have made my life more joyful every day, and even the 2nd year students are very friendly and helpful, and they regularly discuss and guide me as to what I should do to make my 2 years at FIIB more fruitful and productive. Hence, my knowledge gets expanded every day after all classes at FIIB because the conceptual learnings I get from each subject taught, will definitely help me when I will enter into corporate industry. Thanks to case study analysis, class activities, quizzes, assignments, project work and presentations. Not only this frequent guest lectures on various subjects, issues, and topics helps me understand the things in depth. All this has helped in improving my analytical skills, which every employer looks for in a MBA guy. Library at FIIB is the best place for me as I get access to latest magazines, publications, books etc. that helps me to think beyond and get business awareness. To get corporate exposure, I have done Live Projects with big corporate brands that helped me apply theoretical knowledge. And the best thing is the learnings I get after completing the project. Apart from studies, conclaves and cultural events are a big part of FIIB. Experienced corporate people from diverged background come and share their knowledge with us who will become the future leaders of tomorrow. I am feeling proud to be part of these events and get appreciation on Gong ceremony day. Here at FIIB, every small and big festivals are celebrated to their fullest. Every student and teacher and other staff members come together and celebrate the festivals. Yes, when it comes to giving exams, there is no escape from it, but I get to know where I stand in respect to my peers. I motivate myself to study harder to get good CGPA and get the scholarship for my dedication to studies. Leaving back studies, corporate projects, activities, canteen is the best place in college campus to chill and hangout with my friends. The sad part is we have to stand in long queue every day to get our lunch. But the good quality food we get compensates the time we wait. In college basement, I play various indoor games like chess and carom with my friends. I have also participated in Ranbhoomi, an outdoor game activity where all students go out and play their hearts out in games like cricket, football, badminton etc. Due to FIIB, I have realized my potential and now I am in a transformation phase, where I am improving my confidence level, communication skills, soft skills, attitude etc. Overall, FIIB has already created an impact on me and is helping me to have the best personality I can have and become a sustainable manager.

  • Akash Patra – Class of 2018

Jan
20

Attending a Guest Lecture: Career Enhancement

At FIIB we regularly have guest lectures by industry leaders, corporate heads, social-sector reformers and of course entrepreneurs. And some of them are FIIB alumni too. On Thursday, 19th Jan’17, we had another guest lecture, and it was taken up by alumni of 2002-04 batch Ms. Shweta Chandra, AVP, Yes Bank. The main motive of the session was ‘Career Enhancement’.  She gave us an idea about what we as future managers are expected to do in an organization. The three basic things that we have to keep in our mind are honesty, integrity, and ethical conduct, having said that corporate environment in today’s scenario has a zero tolerance policy for unethical conduct.

Shweta Chandra guest Lecture.

Ms. Chandra further told us about the importance of teamwork, coordination, sincerity, punctuality and meeting the deadlines. These are the bare minimums required to be followed in order to grow in any organization. She also familiarized us with the concept of work-life balance and rating priorities in our life as building a career serves the greater purpose than having leisure time in form of holidays etc.

We were told as to what we have to follow in order to manage resources from being a resource. It will be a step by step process. First, we join an organization as a team player, but, with maturity, focus and commitment we can climb the leadership position ladder in a short period of time. Ms. Chandra shared her example how she didn’t take even a single holiday for the first year of her first job in ICICI Bank and got promoted.

She emphasized on the selling aspect as well. It is important as selling is required everywhere be it Finance, HR, Marketing etc. Selling is not restricted to external customers but internal customers also. It helps to develop interpersonal skills and also help influence others that may benefit the organization. Regarding our career opportunities, she advised that we should not limit our options by targeting a particular job profile rather we should keep an open mind and then make the decisions accordingly. She told us that networking is one major tool that should be used by us as much as possible. And most importantly, to follow a career in which one is passionate about which will make us happy in what we are doing and it will not be just a job.

Overall, it was a nice experience as we were able to meet with someone with great industry exposure which will help for us shape our career path in a way that is essential for an ideal growth and success in the industry and the job market.

Arjav Jain, 2016-2018

Jan
19

Right Learning with a Live Project

Since the day I joined FIIB, I have been given various opportunities to study and learn the art of management, both in and outside the classroom. Currently, I am working on a live project with Axis Bank (Promotion of a UPI-based app). This live project compels me to learn the process of selling empirically and convincing users and merchant vendors to use newly launched Axis Pay app to promote cashless transactions.

Though interesting yet it was a stout situation for me to handle the Live Project along with the classes of term-2, at the college. However, the supportive faculty of Fortune Institute of International Business has provided enough guidance to help me develop as a multitasker.

I came with a work experience of 3 years, yet I found the live project work a lot different from my own startup, a Cloth-Recycling based company ‘Sneh Industries.’ The live project was bigger with a magnitude of customer approaching for app selling. I never really had any exposure outside of Kanpur and now thanks to the life project, I’m getting consumer insights from Delhi NCR.

I would like to share an instance that I recently faced during the life project, when I first went to the merchant vendor, I was not sure of my selling skills, whether I would able to convert it or would end up with the presentation only, post which I came back to the college and met with the Marketing Faculty and shared my experience. He simply replied saying “you have not understood the 5th stage of selling process that is Handling Objections” and taught me to continue convincing until the buyer gets satisfied. Hence, I learned that selling is not for a timid one rather it is for the determined one. I am sure this kind of empirical teaching will absolutely be an added advantage for anyone.

I would say it is justified to say that dealing with customers or users directly is the hardest job for anyone. Might you erudite in theory part but practically selling something is completely different. And there are more steps than the 6 theoretical steps of ‘Selling Process’. During the curriculum of Marketing management, and Sales, Negotiation and Business Development (MM and SNBD) in the first year of PGDM it was the best opportunity to learn and apply to the pre-stage of placement. Moreover, the faculty is really very cooperative and amicable. You can approach any faculty at any time and be honest they attend you all the time and provide best solutions for your queries.

This live project has also given me the insights of corporate functions and customer preferences that I hope would help me while I appear for an interview. I am quite sure now I can handle any kind of sales interview with confidence where the selection is not in my hands but my performance and my knowledge will lead me towards the selection.

The challenges I faced during Live Project are in fact the learnings for me and will apply the improved technique to tackle such challenges in future regarding “Direct Sales.”

Raghavendra Trivedi, Class of 2016

Jan
17

In and around FIIB

A new city, a new college, and a brand new life awaits you at FIIB this year. And FIIB being in Delhi opens a lot many good avenues and opportunities for you. Apart from the college students clubs and committees and the events such as Annual inter-college fest, Sports Meet, Conferences, Conclaves, Competition and guest lectures, there’s lot more that you can explore and benefit from, as Delhi is much more than just Red fort, Qutub Minar and Connaught place. Delhi being the heart of the country and an education hub for both national and international students, hosts the amazing annual fests across campuses from different colleges. Plus the proximity of FIIB to South Delhi and Gurgaon markets, malls, theaters and theme parks are sure to add to the fun of your campus life.
There are multiple ways to explore Delhi and its adjacent areas, you can take the Delhi Darshan – HOHO bus service which starts early in the morning to all the important sites in Delhi, or make a metro card and travel to places as far as East Delhi to Rohini without much hassle.  For shorter and local distances auto rickshaws and tuk-tuk are also a faster way to commute.
Reaching FIIB is fairly simple,  If you are coming from IIT, take the outer ring road but do not go on the Rao Tula Ram Marg flyover. After crossing Vasant Vihar and the Hanuman Mandir, take right at the FIEO building. We are the second building from the corner.
If coming from Gurgaon, take the Vasant Vihar exit from the highway. Make a u-turn under the Rao Tula Ram Marg flyover. After crossing Vasant Vihar and the Hanuman Mandir, take right at the FIEO building. We are the second building from the corner.  The FIIB campus is a state-of-the-art building offering spaces for recreation, sports, reading and browsing. We have all major indoor sports (including pool, carom and chess); a fully Wi-Fi campus, student lounge with theatre-style TV, a cafeteria serving scrumptious meals and beverages. You are most welcome to visit the campus! As a prospective student, we encourage you to explore our program, campus and student life. Guided tours and presentations are held every Friday between 10 – 12 PM during the months of Oct-April. During this time, we will try and arrange for you to attend lectures, interact with students and faculty.

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