aEducation is what remains with you after you have forgotten what you have studieda was Mr Srinivasanas closing statement, as he told the students to take risks in their age which would help them learn the nuances of being a good finance manager in the future.
aEducation is what remains with you after you have forgotten what you have studieda was Mr Srinivasanas closing statement, as he told the students to take risks in their age which would help them learn the nuances of being a good finance manager in the future.
The event will also see a aFilm Appreciation Workshopa apart from a Panel Discussion. Also, the event will test the participants on their creativity, imagination, group dynamics and common sense vis-A -vis the aChallenging roundsa.
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In the past, speakers participating in the event included Mr. J.J Irani (Executive Director, Tata Sons), Sam Pitroda (Chairman, World Tel), Mr. D. Ravi Shankar (CFO & Director CRISIL), Sanjay Lalbhai (MD, Arvind Mills), Mr. Ravi Nedungadi ( President & CFO, UB Group), Mr. Satish Naralkar (MD & CEO, NSE iT), and more.
Nisha Narayanan, Project Head of S FM, spoke on attrition, bidding avenues in radio, branching out into different tiers of city and encouraged the young audience to join this exciting and growing medium. Verhnon Ibrahim, National Programming Head of Radio One, Mr Abraham Thomas, COO of Red FM, Mr Nirupam Sonu, VP Programming, Big 92,7 FM and Ms Aporva Purohit CEO of Radio City, President AORI gave an insight to the radio world besides Radio jockeys. aThe business aspect is something most of us are unaware of and this is important for usa said Srujani Dasgupta an MBA.
During the discussion, the panelists debated the stand of the Reserve Bank of India on various financial policies. They also spoke of the impact of the global financial crisis on India and other developing nations. Issues like why developing countries like India and China have such booming economies and the future prospects for these countries were also discussed. This was followed by a question & answer session in which the students asked questions related to the global financial crisis, micro finance and RBIas stand on various issues. A few of the questions were also left open by the panelists.
Finally, Dr Ramana summed up the talk and also presented his views on the topic. The September a08 edition of aFinshastraa, the finance magazine was also released by the panelists and Dr Ramana. The vote of thanks was offered by Prof Banikanta Mishra, a faculty member at XIMB, who also presented mementos to the panelists and Dr Ramana.
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The event started with the Systems module in which the two speakers presented their views on attrition in the IT industry. The importance of managing emotions at work and how to bridge the gap between expectations as an individual and expectations as a professional were discussed. The panelists also stressed on the importance of keeping the employees busy and said that the managers should be aggressive, not offensive.
Next, the HR module was conducted in which the panelists spoke about the role of HR as a strategic function. They discussed issues like linking HR to the impact on business results and also focus on taking the business forward rather than focus on operational issues alone.
The winners of the of the summer project competition at Kshitij then presented their summer projects in front of the students and faculty. Mr Rahul Gadyan from Management Development Institute, Gurgaon, discussed retention strategy, organizational hierarchy and content and also, his findings related to job satisfaction and growth in career prospects. Ms Meenu Soni from Symbiosis Institute of Business Management discussed the usage of HR Analytics in BDM process.
This was followed by the Finance module in which the speakers spoke about recruitment in the finance sector. Issues related to microfinance and various career opportunities in the field of finance were discussed. The PGPMI course, which is offered by XIMB and a few other colleges all over India, and is a blend of principles of general management and knowledge of the insurance domain was also discussed.
Last, but not the least, was the Social Sector module in which issues related to talent acquisition and retention were discussed. The speakers laid stress on the element of sacrifice to cause changes in the social sector and spoke on how we all should try and strive to make life better for the underprivileged.
Each module was followed by a question and answer session. All the modules were concluded with a vote of thanks and mementos were presented to all the speakers.
Supplementing the case study with his insights, Mr Vats explained HULas strategy of targeting rural and urban consumers separately. Although it is mostly the consumers in urban sector who were responsible for the high sales of VIM bar, management at HUL realized that it is the rural market that has more potential for growth in the future. It faced the biggest challenge from the popularity of ash and powder in the rural sector. It was not easy to enter into this market especially because of the easy availability of ash in villages. Mr Vats explained that HUL decided to establish strategy of lowering the input costs to arrive at a low cost VIM bar for rural sector consumers.
Seeing that the future of liquid cleaners is promising in urban sector, Mr Vats explained the reasons which led to the launch of a new product aVIM Liquida. Sharing the secret of this successful launch, he explained how HUL identified and overcame barriers that existed in the minds of consumers. The perception that the liquid cleaner is not strong enough was cleared by the tag line that one drop is sufficient to clean a good number of utensils. Also, to ensure the cost efficiency of the product, a new bottle cap was introduced that only allowed drop by drop usage.
Mr Vats then shared the market results achieved by HUL and concluded the workshop with feedback on the case analysis by students.
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The alumni were received by a performance of the Madras Engineersa Group Pipe Band which has been a part of aBeating the Retreata at the Republic Day parade. The characteristic notes of the Saraswati Vandana laid an auspicious foundation to the official start of the alumni meet followed by a speech by the organizing team, where the call for greater accountability of the alumni was made. As part of the alumni meet, a small video capturing the moments of VGSoM right from its inception was shown to the 80 alumni attending the meet, who became nostalgic about the past memories. Also, there was an open house discussion about the role of the alumni in strengthening the brand of VGSoM.
The felicitation of the two of the senior-most members, in order of the year they graduated in, stood out as a humorous moment coupled with nostalgia and a moment where the tide reversed, current students felicitating the ex-students. The event was attended by the sponsors Canon, Golden Gate along with the beverage partners United Breweries and Red Bull. The meet concluded with a dinner.
How have IRMA and the Post Graduate Diploma in Rural Management (PGDRM) course evolved after you took over as the institute's Director?
Since I took over as Director at IRMA, my primary focus has been on strengthening our academic focus by building on the institutionas strong foundation of excellence, and a commitment to social justice. I have pursued this goal by working collaboratively with my colleagues and students, with the clear understanding that the faculty and students can fulfill IRMAas focus by experimenting in all of our activities a teaching, research, consulting, and training. We have also been aggressive in strengthening and widening our institutional base, and increasing the profile of IRMA at the national level. We recently completed a national study of for the Ministry of Panchayati Raj which was released by the Prime Minister in April 2008. We are also working with the Planning Commission, not to mention our large network of peoplesa organizations, NGOs, cooperatives, etc. Such initiatives have been bolstered by sustained interactions with IRMAas stakeholder groups and alumni, whoaover the past twenty eight yearsahave been successful in many spheres, in India and abroad. We have also been increasing the size of our faculty, and are exploring new institutional linkages. Overall, my time here has been very productive, and we are looking forward to the challenges ahead.
What kind of people are best fit to study the PGDRM course? What kind of people will not fit in at IRMA?
At the most fundamental level, rural managers are expected to engage with the realities of Indiaas changing environment with a spirit of openness and humility. These values have to be sustained by a strong commitment to rigour and professionalism. The absence of humility undermines the ability of rural managers to understand the challenges being faced by producers; and the absence of professional rigour limits the ability of rural managers to solve real problems. In the current context, it is vitally important that rural managers have the ability to listen, engage and respond professionally. Just as importantly, they need to remain attuned to the seismic economic and political shifts that are occurring at the global level. Given the size of Indiaas rural population, rural managers will have a profound impact on Indiaas future. Aspiring rural managers a from all academic backgrounds a must approach an education at IRMA with this mindset, and a commitment to serving social objectives.
How is the PGDRM course different than the IIMs' PGP in Agri-Business management and IIFM Bhopal's PGDFM courses? Do these courses overlap anywhere at all?
IRMAas strength as an institution derives from its roots in one of the most inspiring stories of independent India. This, as you are aware, is the story of the dramatic growth and expansion of the dairy cooperative movement in India, the mobilization that we associate with Indiaas 'White Revolution'. IRMA was founded to train professional rural managers who could build sustainable rural institutions for the benefit of the countryas largely rural population. In this sense, IRMAas uniqueness, which is a function of its historical roots, lies in the genius with which it blended management education with development studies. It would be fair to say that IRMA has virtually invented the field of rural management by combining these two different strands of higher education into one, syncretic whole.
Given this background, it would be fair to say that the educational experience that IRMA offers is unique. IRMA prides itself in its ability to prepare graduates who can deal with the challenges associated with managing 21st century institutions with a strong commitment to supporting the needs of the countryas producers. Its biggest difference from other programs like the ones you cite is the focus on 'field-based' learning. Our students spend close to 8 months working with rural communities and organizations. No other program has such a focus on professional education with an experiential orientation. For all these reasons, IRMAas rural management programme is extraordinarily well-placed to take on the challenges of the future. The success of its alumni proves that its education has succeeded in delivering the intended outcomes.
The 8 months' field work that every student has to do makes for a lot of learning, something that other courses do not provide. In these 8 months spread across the 2 years, students undergo 3 different segments of field based learning. In the first segment, students travel to various rural centers in the country and learn how to understand, interpret and analyze the ground realities of villages by interacting with the people there. This helps them lose the middle class baggage they come with and connect with the rural situation.
In the second segment, they undergo an organizational traineeship, where they work for different organizations in the country and learn how organizations grapples with different rural settings. They learn things like how marketing issues are addressed by companies in a village, how NGOs work with the local population to bring about change.
The third segment is the management traineeship segment. This segment is similar to the summer training in other b-schools. Students take up and implement a full fledged project in companies in the dairy sector, NGOs, citizen groups, micro finance and more.
How is the PGDRM course structured over the two years?
Structurally, it is an eight term program, of which three are for fieldwork, organizational training, and management training in different rural contexts. Over the course of two years, students reconcile their field based experiences with rigorous academic work conducted in management studies and the social sciences on campus.
What are some of the traditional and newer career roles IRMA graduates have been taking up? Could you describe a day-in-life scenario for a common job profile?
The skills that the PGDRM imparts prepares them incredibly well for careers in the development sector, for jobs with peoplesa organizations, NGOs, cooperatives, etc. However, IRMAns are just as well prepared for jobs in the financial sector, agribusiness, etc. Many of our graduates have gone into business entrepreneurship, journalism, and some have displayed a preference for academic careers. In short, IRMAas education is a robust preparation for all kinds of careers; the emphasis, as I have said before, is on preparing them to make a positive impact on society.
A 2001 Business Today feature on IRMA says that one third of IRMAns end up joining the Gujarat Cooperative Milk Marketing Federation (GCMMF) or the National Dairy Development Board (NDDB), while another 50 pc join NGOs and the rest join donor agencies. How has the scenario changed since then?
Our graduates are committed to making a positive impact on society by addressing the needs of Indiaas rural poor. This means, for reasons associated with IRMAas history that they often choose to work with the dairy sector, of which the NDDB and GCMMF are successful pioneers. In the current context, these institutions still offer exciting careers which our graduates look forward to. The numbers change from year to year, but based on placement data from recent years, it is fair to say that our graduates choose careers with a wide range of institutions that we work closely with, and indeed, beyond.
Many NGOs across the world are designed to push back against governments in a very critical manner, while others prefer to work with governments in a cooperative model. Which school of thought does IRMA advocate to its students - that of bringing in social change from within the system or outside the system?
IRMAas core purpose is academic, ie, to teach, research, and train with the larger intention of bolstering the ability of peoplesa organizations and the government to serve the greater common good. IRMA a and indeed, graduates of IRMA a have acquired a strong voice in debates about decentralization and governance reform; in our interventions, we take positions informed by our own understanding as it emerges out of our experiences in research and training. We work collaboratively with the government, with autonomy and a desire to shape discussions on development in a constructive manner. The engagement of IRMA is multi-pronged, and multi-faceted.
Which top-3 qualities does IRMA's selection process try to gauge in applicants to the PGDRM?
Intellectual curiosity, academic excellence, and a genuine desire to work with institutions working for rural development are the primary criteria that determine admission to the PRM.
How many applications do you receive each year? How many make it to the GD stage?
Last year we received 10,607 application forms for PRM. About 400 candidates made it to the interview and GD stage. The number of applications is expected to increase this year.
What is the thinking behind calling shortlisted candidates to the IRMA campus for the GD process?
That is broadly for two reasons. First, we actually want them to get a feel of the campus, understand where exactly they are coming to. It's a question of their checking us out and us checking them out. Secondly, we are able to mobilize more resources in the assessment process by holding the GD in the campus, since the entire faculty is involved in the process.
Is a record of social service necessary for one to be selected in PGDRM?
No. Only intellectual curiosity, a record of academic excellence, and a genuine desire to work with institutions working for rural development are tested for admission in the PRM.
What is life outside academics like at IRMA?
IRMA has a vibrant cultural life. The IRMA Club organizes various cultural programmes and entertainment including film shows and sports activities around the year. All the PRM and FPRM candidates are associated members of the IRMA Club. Students organize various tournaments of football, cricket, badminton, table tennis, etc on their own initiative. Under SPIC-MACAY, concerts and recitals take place. Students also organise several cultural programmes. Jatra, the three-day student festival, is an important annual event. Another event organised by PRM students is Udaan, which consists of several business competitions and lectures by eminent personalities; students from other B-schools also participate in these competitions. Terra Firma, the biannual student magazine describing life at IRMA, is popular among not only students but also the alumni and the larger community. Network, the IRMA newsletter, is another popular platform of communication for the campus community. In short, academic life at IRMA is sustained by a range of rich extra-curricular activities.
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The session was followed by a corporate workshop by Mr. Sanjay Jha, Executive Director, Dale Carnegie Training, India on the theme of the Corporate sessions.
Then, the event 'HR roundtable' was flagged off. The speakers of the event were: Mr Ashfaq Ahad (Head HR, Syntel KPO); Mr S Mohan (Director, Human Resources, BPCL); Mr SK Dutt (Head, Group HR & Admin, ABG Group); Mr V Viziya Saradhi (Director, Human Resources, HPCL); Mr Larry OaDonnel (President HR, JP Morgan Financial Services, India); Mr G Ravindran (MD SHRM - India) a Moderator of the discussion.
There were various events for students, which included:
a Udghosh comprising of 4 sub-events: Vikalp (HR event), Vitt-Shastra (Finance), Vikray (Marketing), Vidhan (Operations) was won by FMS, Delhi.
a Ankur, the entrepreneurship event was won by participants from XLRI, Jamshedpur and the runners-up were from IIT-D.
a Jigyasa, the corporate quiz was hosted by Avinash Mudaliar. It was won by aThe Mercenariesa, Govind Grewal and Souvik Basu from Tata Capital bagging INR 25, 000 prize money.
a Anveshan, the assessment center had 10 B-school students assessed by certified assessors from leadership development consulting firm LBW.
a Trishna, the treasure hunt was sponsored by Syntel & Barista Lavazza, and won by Wellingker.
a Dayitva was a CSR Plan contest. Two teams were declared joint winners a TISS (Social Work) and NITIE. The joint winners were awarded a prize of INR 25, 000/- and an opportunity to work jointly on a project with UTV-I.
a Paripreksha, the role model talk was given by Boman Irani.
Cultural events, 'Abeer', were sponsored by Coke India and included Kalrav (Singing competition), Abhivyakti (choreography competition), Dhrishti (the Ad mad show), Claim to fame (the talent hunt show), Star nite and Kaifiyat (Talat Aziz nite). The last evening of Manthan held 'Dharohar', the alumni meet at Royal Le Meridian in Vile Parle, Mumbai.
Also, Prof Sunil Handa (Faculty, IIMA & Founder, Eklavya Foundation) would be conducting an LEM (Laboratory for Entrepreneurial Management) Workshop during the same time. This workshop will help in understanding the difficulties and efforts involved in starting a new firm.
The Muenster School of Business and Economics which offers management education has four divisions in Business Administration, Economics, Information Systems and Economic Education. The Business Administration division is further sub-divided into the centers for Accounting, Finance, Marketing and General Management. The school offers Bachelor, Masteras, Executive and Doctoral programs in each of the above functions. There is also a separate International Relations Centre which looks after the coordination of exchange programs with more than 70 partners worldwide including the Copenhagen Business School-Denmark, Virginia Polytechnic University-USA and the University of Melbourne-Australia.
Dr. Krafft also talked about his latest research based on aCustomers as a source of Innovationa. He highlighted out the increasing trends among companies like Texas Instruments, Microsoft, Volvo, Amazon and Google to leverage their customers for product innovation. This has not only resulted in reduced costs for new product development but has also ensured products which are more aligned with the societal needs.
This yearas Tattva08 will be host to Rajnikant Patel, Ex MD & CEO of BSE; Rita Soni, Country Head, Responsible Banking of Yes Bank; Bakul Dave, Head Corporate Safety and Environment of Hindustan Unilever Limited; Gopalratnam Kannan, Country Manager of the SWATCH Group; MS Unnikrishnan, Managing Director of Thermax Ltd.; GR Gangadhar, Director of Forbes Marshall; Pankaj Gupta, General Manager - Operations & Supply of Hindustan Unilever Limited; Prabhat Pani, Chief Executive Officer of Ginger Hotels, Roots Corporation Limited; Rahul Gupta, CEO, Cable Divisions of Usha Martin Limited; Dr Ram Babu, Managing Director of Cantor CO2E; Nadia Chauhanto and more.
The symposium is spread over a length of two days and is segregated into six sessions. They would explore various dimensions of Strategic Foresight like how it could be achieved through and integrated with Operations Excellence. It would address how Indian Businesses are thinking progressively and innovatively into the future. The second day would deal with Entrepreneurship in the Indian scenario. It would also cover visualizing the Indian future in pace with the developed countries and achieving an inclusive economic growth for the country. Finally the day would close with a session on aStriking a balance between environmental, societal and business systems in India Inc.
The students had also organized a voluntary blood donation camp in the university campus, courtesy Dr. Jivajiraj Mehta Smarak Health Foundation, in which more than 75 students donated blood.
The first prize of a Honda Stunner was grabbed by Mr Vijay Yadav who clocked 38 minutes in the ten km run. In the female category Ms Smita walked away with the honours. There were prizes for other participants too including a Compaq Presario laptop, an LCD TV, mobile phones and T-shirts.
The students intended to raise awareness amongst the people and generate support for the measures that are being taken to fight terrorism. They also wanted the government to release more information about the issue, so that people could help in devising necessary measures against terrorism.
Day one started with a panel discussion on aIndian Economy: Current trends in a global perspectivea. The speakers were Prof Shankar Acharya, Mr Anil Bisen and Ms Jyoti Jingdar, and Dr Aradhana Agrawal - HOD, Department of Business Economics. The second session was on aResolution to the price puzzlea with Prof VR Panchmukhi and Dr Renu Kohli as the panelists.
The second day was titled aThe Business Analytics Meeta. The chairperson was Mr Manish Mittal, VP and Head of Professional Services, MarketRX Cognizant. He defined analytics as aTrying and understanding what is happening in a businessa. The next speaker was Mr Raman Uberoi, the Director of CRISIL Ratings. He presented his views on Credit Risk Analysis. He defined credit rating as aAn opinion on ability and willingness to pay in full and in timely manner all financial obligationsa. The next presentation was by Mr Ramesh Krishnan who is the head of Supply-Chain, Pantaloons. He defined supply-chain as athe complete movement of materials and information from the source of procurement to the ultimate consumera. This was followed by an analysis of the US credit crisis - its origins and implications by Dr Samiran Chakraborty, Chief Economist, ICICI Bank.
The next session dealt with Risk Mangement Strategies. On the chair was Mr Sanjiv Dobhal, Regional Head-Corporate Business, HDFC ERGO General Insurance. The first presentation was by Mr Manu Digvijay Singh, Associate Director, Global Markets, Standard Chartered Bank. He enumerated the sources of risk and the types of risk that an organisation may face. This was followed by a presentation on Risk Management by Banks by Mr PK Mitra who is the General Manager, Punjab National Bank. He spoke about the indicators of risk and volatility and various norms and measures that have been taken to protect the banking system against risks though not undermining the current crisis. Next Mr Subhashis Nath, the Executive Director, Axis Risk Consulting shared his experience of the risk management strategies of various organisations.
The Annual Convention a08 is concluded with a workshop cum presentation on role of Biz-Eco Mangers as analysts in Merger and Acquisition. This final session was conducted by Mr Bratin Biswas, Lead Fixed Income Division of Genpact and his associate Mr Ranganathan Aiyar.