September 2019

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Revamp your Start-up Idea with Innovation “Without change there is no innovation, creativity or incentive for improvement. Those who initiate change will have a better opportunity to manage the change that is inevitable.” - William G. Pollard (Physicist and Episcopal priest) A successful start-up idea seeks immense hard work, profound dedication and a lot of perseverance and diligence. However, ticking all these checkboxes is sometimes not enough to give a start-up the right amount of fuel for a successful take-off. For a start-up to run successfully, you need to think unconventionally with a lot of novelty and nurture creative ideas. And this influx of creative and new ideas is known as Innovation. In today’s market, nothing gets imitated better than a profitable idea! Your start-up might stand upon a creative concept, but it might be possible that the idea you have put in your start-up have already been inculcated by someone else in their venture. So, how do you stand out from others? How can you carve a unique identity and revamp your start-up with the concept of innovation in this huge cluttered market? The simple answer to these questions is: Be Innovative! Introducing a new product or adding a little twist in the promotional activities or strategizing with out-of-the-box ideas can also contribute to the exclusivity quotient of your business. However, innovation is also not just about introducing new ideas or products/services into your business, but modifying existing models for better results. For instance, if we take a closer look into MNCs like Amazon or Facebook, they frequently implement changes and give their business models a make-over. Corporate innovation has a wide array of benefits. You can witness increased revenue, amplified brand visibility, better customer satisfaction, enhanced employee retention, rapid market penetration and few other things when you apply innovation in your business. However, without the innovative ideas, all these benefits are of no use. Globsyn Business School has its own entrepreneurship cell – Embryon – that motivates students to use their theoretical knowledge, thoughts and imagination in formulating innovative feasible business plans during their course of study, through events like EntreArena and Funnovation among others. Startup Café, an extension of Embryon, has been setup as an incubation centre to provide the young entrepreneurs of Globsyn with a new-age working environment. Let us have a look at some of the innovative ideas taught at Embryon, which can be applied to a business venture: Compete with agile Start-up Methodologies All businesses experience rainy days and rough patches. However during that time, instead of losing hope, it is important to take stock of the situation, come up with effective methodologies and inculcate efficient strategies for potential unexplored and virgin terrains. Catch up with Technological Advances In today’s world of modernization and digitization, it is good to be technologically advanced. You can improve your connectivity by using IoT and Big Data. Along with it, you can introduce cloud computing to your business as well as you can directly get connected with your customers on social media and other mobile applications.

When we hear about Field Trips, nostalgia hits us and makes us remember our school days when all of us were taken on trips to museums or parks. Field trips were just like another picnic for school kids. However, now when we are grown-ups and standing on the verge of starting our professional careers, field trips are no more a picnic. Instead, it has become FIELD (Field Immersion Experiences for Leadership Development) Trip, a term coined by Harvard Business School, which proposes to teach the students the difference between knowing and doing. It enables the young managers to learn how to work as a team, solve real-life business and apply theoretical knowledge into practice. For management students, field trips are not just a chance to escape the confines of the classroom, but a first-hand practical experience of the concepts that they have learned in the classroom throughout the curriculum. Globsyn Business School (GBS) has always included field trips, commonly called ‘industry visits’ in their curriculum, as it helps students to step out of the boundaries of traditional pedagogic methods and put into practice experiential learning.. Recently, students of GBS have taken field trips to live sites like Hindustan National Glass; National Stock Exchange; TSPDL, Jamshedpur amongst others to get a slice of real-life action that happens in the corporate scenarios. Let us have a look at some of the key takeaways; management students may get from field trips: Teaches Learning by Doing: When the knowledge imparted in the classroom is followed up by a field trip, it helps in better understanding of the concepts taught, as it results in more effective learning. In the present day scenario, there lies a chasm between the knowledge imparted in a classroom and the requirements of the corporate world. B-Schools, today, have realised the importance of bridging this gap, and introduction of field trips in the curriculum is a positive step in this direction as this can help bridge the gap between knowing and doing. It teaches them how to be a professional and how to work professionally. Moreover, it helps them to understand the connection between the concepts taught in the classroom and how to apply them in reality. Puts Theory into Practice: When the students go on a field trip, they get the opportunity to work on a live project. While putting theory into practice for the first time, students get to learn all the challenges related to application of a theory. In this context MacCormack, an MBA-graduate from Harvard Business School said, “Being there on the ground and observing yourself is different from learning something in a report from afar.” Working ‘live’ during the field trip makes the students understand the challenges poised in any decision-making process. Field trips help students reflect on the lessons they have learned in the classroom and take well-judged practical decisions based upon those lessons. It helps them to adapt, comprehend and finally react to what they have learned. Teaches the Power of Teamwork: While on a field

A picture is worth a thousand words – and an 'Emoji' can save you that many letters. It is interesting to see how communication has evolved over time, and how funny and interactive pictures can fluently express human emotions without the use of letters. Emojis are cute. It is easy to think they are just for teenagers whose phones are permanently glued to their hands. But, as ever with the humble emoji, there is so much more beneath the surface  –  in form, function, history, and future. They are based on symbols from Japanese comics and express emotions through digital communication. The idea is to provide a reaction when emailing, texting or messaging someone who is unable to see your body language. It is difficult to imagine a world without the usage of emojis, whether it's decoding what they really mean, waiting for the new set to arrive, or thinking of ones that should exist. In today’s communication landscape, emojis allow people to visually express themselves and convey emotions that might be difficult to deliver through words alone. Many companies use them in creative ways to boost their brands online and connect with target audiences. But although emojis might be appropriate at a particular moment, they don't always work as intended. Individuals bring their own personal experiences when interpreting an emoji, so although you might use one with streaming tears after something you found incredibly funny, someone else might wonder why you are upset. Therefore, emojis can get lost in translation causing disconnect and confusion between correspondents. Words have consequences. So do the symbols that stand for them. Professionalism is not the real issue, since many companies, teams, and industries have varying ideas of professionalism. Communication always evolves, and unless an individual belong to an organisation that still think contractions are going to destroy language and the world as we know it, he is probably already using emojis at his workplace. A person may think that winky faces, heart eyes and blowing kisses are fun way to express his appreciation, but when sent to his team, these seemingly harmless emojis run the risk of being construed as 'evidence' of sexual harassment. Emojis allow for open interpretation which is one of the major factors of misrepresentation of one’s behaviour and intentions. Even the skin tone selected could be perceived as racist or ethnic misappropriation. Some past cases and life experiences in an organisation favouring the usage of emojis have faced these tough challenges. Each new emoji carries as much risk of sending unintended messages as rewards. So just remember that each time you sent an emoji, you are potentially playing with danger. Give your emotions a right face Of course there are some pros and cons to using emojis in an office setting. Therefore picking a right face is the most important aspect for this mode of communication to work. For example, an employee should never respond to his boss’ request with a 'pile of poop' icon. But smiley faces and thumbs up are generally good positive