October 2019

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Simulation is an imitation of certain operations of a system. In the modern era, simulation is widely used in the field of education. Earlier this approach was used in military and aviation industries to maximize safety during the training, while minimising the risk. Later it was adopted in several other fields, like education – especially, management and medical education – to prepare students for real life case studies and scenarios. Simulation-based Learning (SBL) provides simplified practical experience to learners on real-time events and situations. According to Robert Mills Gagné, an educational psychologist, “A simulation represents an actual situation carrying operations, thereby providing the user with certain controls over the situation while omitting certain distracting variables that signifies irrelevancy for the particular instructional goals.” Nowadays, SBL relies mostly on the usage of advanced technologies and computers, which help to provide enhanced learning to users. Especially in management education, SBL provides an opportunity for the students to develop and enhance their knowledge, skills, attitude and understanding of real-life corporate scenarios, as well as hone their management skills through an array of activities, such as the Boardroom Activity – a Globsyn Business School best practice. In a Boardroom simulation activity, students work in small teams to simulate the behaviour of the executive team of a real-world organisation, following the company and monitoring its activities (e.g. regularly checking their website, collecting data from electronic sources, the financial press and annual reports etc.). The activity culminates in a role-play of a Boardroom meeting where experienced company executives chair the session and provide guidance, direction and feedback. Let us see some notable key aspects of Simulation-based Learning:• Provides critical feedback of the students• Leads to the improvement of skills by repetitive practice• Integrates curriculum of simulation-based learning• Helps to practice with a range of difficulty levels• Teaches not just teacher-centred approach but multiple learning strategies• Discusses a variety of management issues• Controls the situation from the negative consequences of an error• Promotes active individualized learning• Measures the actual outcomes• Represents actual boardroom Globsyn Business School (GBS), like any other leading management institutions across the globe, has incorporated a myriad of SBL activities to its 'learner-centric' pedagogy including exercises and role-plays ‘beyond traditional education’, which has become an integral part of the GBS curriculum to ensure that the students develop sufficient cognitive, inter-personal and intra-personal skills for their future corporate life. At GBS, in a typical SBL activity, the students are divided in teams of 10-12 members, where each and every member of each team are assigned specific roles of Executive and Non-Executive Directors with a representative from the corporate playing the role of the ‘Chairman’ of the ‘Board’ that is tasked upon to solve simulated business crisis situations within the next 2 months. During this period the students, mentored by a faculty of GBS, conducts extensive researches and finally present a solution to the ‘Chairman’, which the corporate either modifies or implements in their organisation. Globsyn Business School believes that these SBL activities will help the students imbibe management and intrapreneurial skills,

In today’s high paced world, the aspect of commuting plays a very important role in job searches and career selections. The time taken and the money involved in commuting to work, plays a significant role in deciding whether a job is desirable or not. Many people while looking to buy a house prefers to live within five kilometers of their workplace, as they do not want to spend more money or time on commuting than is absolutely necessary. According to a survey, majority of the work force commute to work, by car, bus, metro or the local train. So how do they really determine the cost of their commute? Some of the things that are to be taken into consideration while determining the cost of commute are as follows: 1. The Cost of Driving a Vehicle Many factors have to be taken into consideration while determining the cost of driving a vehicle to work, such as:• Depreciation• Insurance• Registration• Cost of Petrol• Maintenance and Repairs• The monthly EMI payments, if someone has one How do we derive the cost of driving a vehicle from the above factors? This is done by adding up the annual costs in all the above categories and then divided by the number of kilometers driven in a particular year. This will give an estimated cost per kilometer. The cost of commuting becomes even more expensive when one has to pay to park his vehicle at work. In this case, the annual cost of parking is added up and then divided by the number of kilometers driven to work. This resultant extra expense is then added to the estimated cost per kilometer. 2. Time Saved is Money Saved Apart from the rising expenditures that it takes to operate a vehicle, another factor to remember is that time is money. Every minute that one spends driving to and from work, is the time he could have spent doing a number of other constructive and productive things in life. Another frustrating factor while driving to work is that a distance which takes a certain amount of time to cover, takes almost its double time during rush hour traffic. 3. Riding a Bi-cycle to work can actually make a person a Millionaire! These days, professionals living closer to their workplaces prefer using alternative means of transport, like walking or cycling, in an effort to stay fit and save up on fuel expenses.Using the ‘Time Value of Money Calculator’ it is seen that the money saved in commuting to work, if invested for 35 years at an interest of 7 percent per annum, can grow to over a crore of rupees, even if adjusted for inflation. So it can be safely assumed that walking and cycling can not only be a fun way of staying fit, but also a highly cost effective method of daily commuting to one’s workplace. It is thus advantageous to drive less and enjoy the walk to office and use fun activities like listening to music or news during the journey. Happy Journey!!! Ayan GhoshKnowledge Cell

  Over years companies have taken bold strategic moves to dwell into the market, create uncontested market space and make the competition irrelevant. How do they do it? What strategy do they adopt? Consider the remarkable strategic moves made by two corporate giants: 1) Ford Motor Co. In the 18th Century, the automobile industry was in its infancy with around 500 automakers in USA producing custom-made cars that were more expensive and less reliable. In 1908, Ford Motor Co. made a blue ocean strategic move and created a new manufacturing process by producing standardized cars at a fraction of the price as that of its competitors and made it available for the mass. Ford introduced the Model T which came only in one color and one model, but it was affordable, durable and reliable. The Model T's market share jumped from 9% in 1908 to 61% in 1921, also officially replacing the horse-drawn carriage as the principal mode of transportation. 2) Apple Inc. Apple Inc. unlocked a blue ocean of new market space with the launch of its music download service – iTunes. In 2003, Apple observed that billions of music files were being downloaded each month illegally, Apple created the first legal format for downloading music in 2003. iTunes was easy to use and provided users with the ability to buy individual songs at a reasonable price. Apple won over millions of music listeners who had been pirating music by offering higher-quality sound along with search and navigation functions. Apple made iTunes a win-win-win situation for the music producers, music listeners and Apple itself by implementing the Blue Ocean Strategy to create a new revenue stream from a new market while providing more convenient and legal access to music. What is this Blue Ocean Strategy? In an established industry, companies compete with each other for every unit of available market share. The competition is often so severe that some firms cannot sustain themselves. In such situations, traditional competition-based strategies aren’t enough to sustain high performances as prospects in most established markets are shrinking steadily. This type of industry describes a ‘red ocean’, representing a saturated market share and cut-throat competition. In the two cases mentioned above, Ford Motor Co. and Apple Inc. succeeded because they realized that to win in the future and sustain, companies must stop competing with each other. The only way to beat the competition is to stop trying to beat the competition, and venturing into virgin markets. To move beyond competition and towards new growth, companies must tap into the ‘blue ocean’ of opportunities. Firms and entrepreneurs choose to innovate or expand in the hope of finding a blue ocean market with uncontested competition. A Blue Ocean Strategy is based on creating demand that is not currently in existence, rather than competing with other companies to position themselves in the existing market space. This strategy is the simultaneous pursuit of differentiation and low cost to open up a new market spaces and create new demands. It is based on the view that boundaries of the market and

As India’s first ‘Corporate B-School’, Globsyn Business School (GBS) designed ‘Corporate Connect’ as one of the cornerstones of its academic delivery system, which exposes the students to the nuances of the corporate world and makes them industry-relevant managers. With this vision to build a globally networked, corporate savvy, research driven management education system, GBS over the years has been inviting industry stalwarts to share their knowledge and experiences with the young managers, which will help them in their future corporate journey.Following is an account on the experience of one our students, who have been a part of a Corporate Connect session. Mr. Nadim Kazim, Chief Human Resource Officer, Tractors India Limited, conducted a Corporate Connect session on ‘Management Function & Organizational Behaviour’ for the GBS students, which helped the young managers get an idea on how the corporate world really functions and how they can prepare themselves for the industry. Mr. Kazim shared some of his valuable lifetime experiences and also gave them some valuable advices on how they can be good future managers. He told the students that their careers took off the day they attended their first class at Globsyn Business School. Mr. Kazim began the session explaining to the students that most vital part for any organisation to work well is to maintain ‘discipline’. An academic institute might tolerate late attendance, but a corporate house will not show that leniency. Then he briefed the students about how to build their character, where the main qualities will not just be intelligence and intellect but also ethics and values. Mr. Kazim said that it might get difficult for some people to keep pace with the ever-changing dynamic values of today’s world that can turn them into cultural misfits, so in order to blend in with their workplaces, they need to upgrade and update not just their resumes but also their personalities with the culture of our organisation. He also informed the students that academic success does not necessarily give them professional success. They need to be more conscious about the latest industry trends and demand, learn beyond education and be more ‘industry relevant’ in order to hit the ground running from the day they enter the corporate rat-race. Keeping that in mind, academic excellence is also of primary importance as the expectation levels of an organization from a management student will be much more than from a non-management student. Mr. Kazim stressed on the importance of ideation and communication for succeeding in an organisation. According to him, a lot of people might come up with good ideas but they won’t be considered potent enough to influence the stakeholders and senior management people unless they are expressed well and heard by them. Today geographical boundaries are becoming redundant with corporate houses of one country working with others, Mr. Kazim advised the students to learn atleast one foreign language as it will add extra points to their skill sets as global managers.   Kajal DasGlobsyn Business SchoolFaculty Coordinator: Dr. Prof. Debaprasad Chattopadhyay

Durga Puja, the mother of all socio-cultural festivals, commemorates the homecoming of goddess Durga. Closest to the hearts of every Bengali household, the festival embellishes religiosity, spirituality and emotions. However, the festival not only blends the essence of religion and spiritualism in the air, but it also amalgamates huge marketing opportunities and branding strategies of various brands. With around 1-2 lacs of footfalls per day at the more popular pandals across the State, these corporate brands get immense exposure over the 5 days of festivities. Earlier, where brands' advertisements were limited to banners and pamphlets, these days they decide the theme of the art and décor of idols & pandals, and promote it across print, electronic and digital media. Over the years these brands have blended with the celebration harmoniously, and have created a symbiotic relationship with each other. However, the story behind this major visibility of brands is different. It takes months of preparation, ideation and planning to launch the perfect campaign that would grab the maximum eye balls. The art of successfully organizing a mega-scale event, like the Durga Puja, goes through an extensive research, time and budget management, prudent people management skills and organized hard work involving various departments, which in itself can pose to be an interesting case study for any management student. Some notable points that the next-generation managers should take note of are as follows: Research: The first and foremost part of marketing is Research. A precise research or survey enlightens the company about its customers’ needs at a particular point of time. This helps in further planning and implementation of an idea, determination of the budget and management of the event. Planning: A proper Planning is one of the major management lessons that young managers should learn during Durga Puja. Decisions regarding budget and time needed for preparation, the numbers of man-power required for building of pandals, approach towards various corporates for sponsorships comes under planning. For a management student, learning this skill is very important as it teaches them the importance of advance planning. Budget Management: Festivals like Durga Puja require huge budget and proper management of finances require efficiency. There should be transparency between the committee members, maintenance of proper accountability of budget and avoiding unnecessary expenses while saving up for innovative ideas and other welfare activities. So, Budget Management is another aspect that a management student can learn from this festival. Creativity & Innovation: With thousands of idols gracing pandals across the state in all their stupendous glory, how can a particular pandal stand out, draw sponsors and ultimately enthrall the crowd? It is this sense of creativity and innovation, most of the times from limited resources, which can be a major takeaway for any management student. People Management: ‘People Management’ is a major component of management education. A five-day long festivity, which millions of people partake and where a single major pandal exhibits thousands of footfalls every day, requires superior levels of people management skill. Not just pandals, but proper management of traffic on roads and

As India’s first 'Corporate B-School', Globsyn Business School (GBS) designed 'Corporate Connect' as one of the cornerstones of its academic delivery system, which exposes the students to the nuances of the corporate world and makes them industry-relevant managers. With this vision to build a globally networked, corporate savvy, research driven management education system, GBS over the years has been inviting industry stalwarts to share their knowledge and experiences with the young managers, which will help them in their future corporate journey. Following is an account on the experience of one our students, who have been a part of a Corporate Connect session. “Uber doesn’t have a single taxi of their own and Flipkart doesn’t have their own inventory. Starting a business doesn’t need a huge investment.” The Corporate Connect session on the subject ‘IT for Managers’, conducted by Mr. Debkumar Majumder, Director & Communication Sector Leader, IBM India Pvt. Ltd. started on this note. These days, businesses run completely through innovative ideas and cutting-edge technologies, which give birth to another version of Industry – Industry 4.0 During the session, Mr. Majumder mentioned about the way Artificial Intelligence is influencing present day global business scenarios, as the entire business process today is implemented through automation – starting from marketing to production to logistic – the entire process is executed through programmed computers. He also mentioned the various roles of IoT in business processes, like improving asset utilization by monitoring equipment through sensors and taking preventive maintenance for uninterrupted services. He also specified that IoT applications can connect to video cameras and sensors to monitor the equipment to avoid physical threats. By enhancing the business module, assets utilization, equipment monitoring and employee training services, IoT applications also saves your overall business cost. Following the above discourse, Mr. Majumder mentioned about role of ‘Natural Language Processing’ (NLP) in any business, and how it helps in inter-staff communication, leadership, presentations, improving personal effectiveness and sales-negotiation-persuasion. In conclusion, Mr. Majumder dealt with the importance of data in running a business. Almost every modern business platform or tool can deliver rows upon rows of data for use. According to him, in the present day scenario, gathering data helps a business to have a better understanding of its customers and markets. He gave example of ‘sentiment analysis’ and ‘churn analysis’ in telecom industry to support this. While concluding this segment, he laid emphasis on the fact that data helps a business to take decisions, to solve problems, to enhance performance, to improve business processes, to understand consumers and markets etc. This Corporate Connect session is extremely helpful for us, as we are poised to set foot in the corporate world. We are thankful to Globsyn Business School for conducting such sessions and exposing us to a global corporate culture. Rohit Kumar Singh Globsyn Business School Faculty Coordinator: Prof. Kaushik Ghosh  

On the 73rd Independence Day of India, the Prime Minister of the country, Shri Narendra Modi appealed to all his countrymen to put their effort wholeheartedly towards the mission of making the country free from SUPs, i.e., Single-Use Plastics. Following his appeal, India imposed a nationwide ban on SUPs from October 2, 2019, which incidentally is also the 150th birth anniversary of Mahatma Gandhi. Although, there are some states that has already enforced the ban on plastic in the preceding years. It did not work though, because it focused only on the exclusion of carry bags as SUPs were misinterpreted as polythene carry bags or disposal plastics in India. However, the United Nations categorized 'Single-Use Plastics' as the products that are made of Oxo-degradable Plastic, Polystyrene or other types of plastic such as straws, cutlery, cups, cotton-bud sticks, plates, balloon sticks, plastics for packaging beverage containers, multilayered plastics (MLP) packaging for food items, chips, biscuits, chocolates, etc. These items are intended to be utilized only once before they are recycled or thrown. According to a recent report from Britain's Royal Statistical Society, only 9% of the plastic manufactured till the date, has been recycled. Therefore, according to this statistic, 91% of the plastic formed are still ‘unprocessed’ or ‘non-recycled’. This statistic shows that plastic waste is rising staggeringly all over the world and is incessantly worsening the global eco-system. Due to this, every year tons of plastic debris is discarded all around resulting in polluting the lands, rivers, coasts, beaches, and oceans. This pollution is adversely affecting wildlife, wildlife habitat as well as human life. Due to the inexpensiveness and durability of plastic, global production and consumption of plastics have continued to rise for more than 50 years. Moreover, due to the chemical structure of plastic, its degradation is very difficult. These factors lead to a high prominence of plastic pollution in the environment. A Global E-waste Monitor Report, published from the United Nations University in 2017, exposed the fact that 44.7 million metric tons of e-waste was made in 2016 out of which only 20% was collected and recycled till date. Another report from Central Pollution Control Board states that 26,000 tons (TPD) of plastic waste is produced every day in our country of which only 60 per cent or 15,600 TPD was recycled. This implies that the remaining plastics have ended up as mess on roads, in streams or in landfills. This poses a huge warning to species on land and in water. Rendering to a research paper published in Nature Communications magazine, river Ganga alone took 1.15 lakh tons of plastic into the ocean in 2015, which is second to China’s Yangtze. According to many industries, movement of imposing a ban on the usage of SUPs is a great effort to save the environment. However, it is anticipated that commanding injunction on SUPs will affect FMCG industries as they use plastics in packaging and it is directly or indirectly related to all the business units or productions. For instance, E-commerce