November 2018

Hello everyone! Today I am going to share my experience of attending a corporate connect event, organised by Globsyn Business School, where Mr. Samindra Roy, eminent personality and partner of Unigrow Solutions, explained to us about the various management functions, which are dynamic social processed, needed to run an organization. Mr. Roy further added that careful ‘Planning’ is considered to be one of the prime management functions. Planning is future oriented and determines an organization’s direction. It is a rational and systematic way of making decisions today that will affect the future of the company. It is like an organized foresight as well as corrective hindsight. It involves the predicting of the future as well as attempting to control the events. An effective planning programme incorporates the effect of both external as well as internal factors. The external factors are shortages of resources; both capital and material, general economic trend as far as interest rates and inflation are concerned, dynamic technological advancements, increased governmental regulation regarding community interests, unstable international political environments, etc. The internal factors that affect planning are limited growth opportunities due to saturation requiring diversification, changing patterns of work force, more complex organizational structures, decentralization etc. According to him, ‘Organizing’ is another important factor when it comes to management functions. He told us that organizing requires a formal structure of authority, and the direction and flow of such authority through which work subdivisions are defined, arranged and co-ordinated so that each part relates to the other in a united and coherent manner in order to attain the prescribed objectives. Thus the function of organizing involves the determination of activities that is needed to be done in order to reach the company goals, assigning these activities to the proper personnel, and delegating the necessary authority to carry out these activities in a co-ordinated and cohesive manner. We also learned from him that ‘Staffing' is the function of hiring and retaining a suitable work-force for an enterprise, both at managerial as well as non-managerial levels. It involves the process of recruiting, training, developing, compensating and evaluating employees, and maintaining this workforce with proper incentives and motivations. Since the human element is the most vital factor in the process of management, therefore, it is extremely important to recruit the right personnel. ‘Directing’ is another function which is concerned with leadership, communication, motivation and supervision so that the employees perform their activities in the most efficient manner possible, in order to achieve the desired goals. The leadership element involves issuing of instructions and guiding the subordinates about procedures and methods. The communication must be open both ways so that the information can be passed on to the subordinates and the feedback received from them. Motivation is very important, since highly motivated people show excellent performance graph with less direction from superiors. Mr. Sen told us that ‘Controlling’ is another important managerial function that consists of those activities which are undertaken to ensure that the events do not deviate from their pre-arranged plans. The activities consist of

A professional on an average spends 6-10 hours each day at work along with his colleagues and regularly interacts with each other. A diverse organization has many members and building relationships is an integral part of any career strategy. What are the factors that motivate employees to do a particular job? For some, it is the prospect of getting a higher pay and advancement up the chain of command. For some others, it is a feeling of accomplishment or the ability to work independently or even self development through their work. According to research, these factors are derived from the individual’s personality characteristics and if employers can find suitable employees whose natural leanings matches with the characteristics of the concerned job duties and responsibilities, they could see significant advancement in company’s success. Personality is at the center of how we interact with each other on a daily basis and it provides a framework of an individual’s relatively enduring characteristics that make an individual unique and different from every other individual. It relates to people’s characteristic tendencies to behave, think and feel in certain ways. A person’s personality traits are usually identified by observing what behaviour they exhibit in different situations, and this is why there exists a relationship between personality & behaviour. Thus, the personality traits, or natural reflexes, that form an individual’s character are essential not only when predicting how people will interact and behave with one another, but also how they will fit with the tasks and responsibilities required for a position and the environment of the organization. So which personality type should the employer hire? Should the recruiter favor generalist or the specialist? The extrovert over the introvert? The self-starter over the obedient follower? The answer is - It depends! Each of the types mentioned will offer benefits and also have certain drawbacks. The point is not to favor one type over another, but to match a personality to a given set of duties and responsibilities and to analyze whether the concerned individual will be able to cope up with the organizational culture and fit into the environment of the company. For example, a person who has high conscientiousness but is an introvert has high chances of being selected for an accounting job or data-entry job. The person might be very good with his work; however, if his introverted nature is pronounced to the extent that he cannot interact and communicate appropriately with his seniors & colleagues he might not be able to sustain himself in the job for too long. Thus, it is important to access the personality of an individual when making personnel related decisions. Many companies today along with their first impressions and gut instincts, also rely on standardized personality test scores to make an unbiased decision. 'The Big Five' personality model since its inception in the early 20th century has become one of the most extensively researched and widely accepted theories to explain personality differences. The model is composed of the following factors: Emotional Stability: It is the degree to which

As business students it is important for us to connect with the corporate world in order to know how it works how it functions. At Globsyn Business School we got this opportunity. Mr. Aditya Sharma, Senior Vice President of Boson Energy-Asia, came to our Campus to teach us the fundamentals of accounts and share his knowledge Managerial and Financial Accounting. We were taught the basics of accounts specifically trading account, profit loss account, balance sheet, trial balance observation etc. Finance background students were overjoyed with such an exposure of the finance world while students from non-commerce streams were happy to have learned so much in one day and as a result of which, their interest in finance increased. Mr. Sharma shared his vibrant experiences and gave us important inputs of how a trial balance is to be observed as well as how to read numbers, analyze them and draw conclusions thereby increasing financial accuracy as well. Such programmes of corporate connect is very productive as we were given a quick lesson on financial statement reading, how to solve financial problems and other aspects of the subject. This session was especially very much useful for the non-commerce students as it helped strengthening their finance base and the discussion regarding some advance financial topics sparked interest in many of them. We can conclude by saying that such corporate connects are productive and useful as we have learned a lot from this session and looking forward to many more of such learning experiences. Amiya Paul PGPM - IB Batch 04, Globsyn Business School   -------- . The second corporate connect was with Mr. Aditya Sharma, Senior Vice President-Asia Bosom Energy, who took the session on Managerial and Financial Accounting, designed especially for beginners and intermediate level students of Finance - who would not only like to get a good grip of the concepts of the subject but also be able to comprehend the intricacies of the financial world. Mr. Sharma made us understand about the various steps of accounting methods starting with the primary concepts of accounting. Then he taught us how to post entries from Books of Journal to Individual Ledger Accounts through which he showed us how to get our accounting right when the Trial Balance is tallied. It is due to his explaining that we understood that Accounting is not just about maintaining entries but regulating and observing how the total amount of money is transferred in and out of a business, and how liquidity is affected by maintaining Cash Flow Statement and Fund Flow Statement. Finally he quizzed us on why we maintain books of accounts, and why and how we maintain the financial statements of a company in order to gauge our understanding of the subject. Most of us read the news without really paying attention to the financial news. This is due to the fact that most of us don't comprehend the basics of the subject. This Corporate Connect Program helped us a lot with clearing all our doubts regarding the basics of Accounts and by making us understand

Globsyn Business School arranged for a dance therapy class with Angira Chakravorty as a part of its corporate connect sessions, and it was indeed a wonderful opportunity for us, students, because we could de-stress ourselves of our academic tensions. We also got to learn the nuances of team building, trust, coordination, gaining confidence, revitalizing our minds through various body movements that ma'am taught us. I'm looking forward to many more such therapeutic sessions in the future. Amiya Paul PGPM-IB Batch – 04 Globsyn Business School   Last week we had excellent corporate session of business communication by Ms. Angira Chakrabarty. We learned many aspects of communication that we have to deal with, in the everyday life of an organization. The 'Dance Therapy for MBA Students' session was indeed very interesting, as it helped us to overcome the fear of being judged by others and to flourish by ourselves. The session was indeed a excellent, and we carried with us a lot of pleasant memories and knowledge. Preetam Ghosh PGDM Batch – 08 Globsyn Business School   Had an amazing experience at this session - 'Dance Therapy for MBA Students'! Learned the various ways of how cooperation, de-cluttering and body awareness is essential for the growth of our mind and body, through different body movements. It is not about how well you dance, bit it is all about the movements which we are able to do with our various body parts. The therapy actually gave me a positive insight of my life. It was an exciting and memorable experience. Hope to attain more such sessions in future. Riya Dutta PGPM-IB Batch – 04 Globsyn Business School   The dance therapy for MBA students session conducted by the respected Angira Ma'am was a life changing experience. She taught us on that day how coordination plays a very vital role at any place, whether it is an organization, family, or friends. Body awareness is also very important for working more efficiently & effectively. I want to thank Ma'am for this wonderful session and look forward to such types of sessions in the future. Suyashi Tiwari PGPM-IB Batch – 04 Globsyn Business School   This dance session was one of the best thing that I have experienced at Globsyn Business School. I want to thank the management and our respected faculty for giving us this opportunity. The session was all about de-clustering the mind and body through cooperation and body awareness. It showed that how body movements enriches and energizes our mind within minutes. We got a whole new insight regarding dance. I hope to attend such exciting sessions ahead! Prabal Jha PGPM-IB Batch – 04 Globsyn Business School   This was an unique session because it was not about how well we dance, but how well we move all our body parts. As Angira Ma'am pointed out, our body awareness is also very important for working more efficiently and effectively towards any goal. Hope we can attend many such sessions in the future. Arindam Mitra PGPM-IB Batch – 04 Globsyn Business School   At first, I had no idea what to expect from the dance therapy session but after attending it, I have discovered myself

Performance Management System is a tool that is used to communicate an organisation's goal to the employees individually, allot individual accountability towards that goal, track the progress in the achievement of those assigned goals and evaluating their individual performances. Performance Management System reflects the individual performance or accomplishment of an employee, by evaluating and keeping track of all the employees of the organization. Mr Vishal Verma, Senior Manager, HR, Techno Electric & Engineering Co. Ltd. met the HR major and minor students of Globsyn Business School in a corporate connect session to discuss how the Performance Management System works in the industry. In this session, Mr. Verma also analysed the different methods of this system, its various implications, how it can help create a learning organisation and how the employees’ goals can be set in sync with the organisational goals and objectives so that through individual personal achievements the organisation, too, achieves its goals. Mr. Vishal Verma also discussed the various usage and importance of HR analytics and how the data from the Performance Management System can be used in various processes of HR like Talent Acquisition, Learning and Development etc. through proper analysis of the data. We, the students of Globsyn Business School, also got enlightened on how the conventional processes are now getting replaced by ‘management by numbers’. This also helped us to understand the practical applicability of the Performance Management after we had gone through the theories linked to it. It was a great learning experience where we got the opportunity to have a thorough insight of what is happening in the industry today. And this will certainly help us in our coming days, as we step into the corporate world in a few months’ time. Arnab Chattaraj PGDM Batch – 07, Globsyn Business School