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Author: Industry Insider

We are living in an age of rapid technological changes. By the year 2020, there will arise an increasing demand for about 3.3 billion workforce in the services and intensive-manufacturing sectors. This phase of structural transformation is not only focused globally, but is also expected to play out in India where 75% employment opportunities will arise in fields of services and manufacturing sectors. This structural shift in employment will increase demand for sophisticated workers, innovators, and thinkers who can thrive in a globally-connected and dynamic economy. And this can only be achieved if our prevalent education system is able to create an academic curriculum that is not only globally pertinent and competitive but is also able to serve the needs of both the domestic and global industrial standards. The first and foremost step in this direction is to integrate the Indian education system with a relevant and updated academic curriculum that will cater to the various industry standard needs and give higher education in the country a much needed boost of elasticity and compatibility. Any academic foundation is balanced on mainly two pillars – faculty and students. In the prevalent times, teacher should realize that the purpose of teaching is not just to cover the entire curricula but also to educate the students of elements beyond education. Students on the other hand, needs to be motivated enough to pursue knowledge not just within the walls of a classroom but also beyond it. Self learning and exposure to the latest technologies coupled with a focus on 'entrepreneurship on campus' by introducing active incubation/entrepreneurship cells, increased collaboration with leading corporates and proper coordination between the stakeholders – students, faculty, parents, government bodies, corporates – will also work towards facilitating a practice of designing globally competitive academic curricula for the students pursuing higher education in India. Pedagogy or the activities of educating is another decisive factor in shaping a globally competitive higher education system in a country. The foundation of pedagogy stands on the vortex of strong academicians who are not afraid to devise newer ways to impart teaching, to make pedagogy more adaptable to the needs of time and interesting to the millennial students. Gone are the days when an academician was considered to be 'good' if he had sound theoretical knowledge. In today's world, a faculty should not only have sound theoretical knowledge of his subject but he should also have an equal amount on industry exposure in order to be considered competent enough during pedagogy delivery and faculty audit. Apart from a balanced and updated academic curriculum and pedagogy style, the third most important step towards global relevance and competitiveness of the Higher Education system in our country is to adopt and adapt to high-end technologies in addressing the various evaluation and delivery needs of our academic institutions. In this millennia, Technology Adoption holds as much importance as other traditional meaning of academic delivery. It has the potential to make the education system more dependable and trustworthy, by aiding the various systems and

Indian Mythology in Modern Business Management is evident in today's business transactions across the world. What is business? Is it not an exchange of valuable things? A sort of ‘barter system’ practiced from ancient days of yore? In the ancient times, Indians used to do Yagnas (rituals) to please Devtas (Gods). In his book titled ‘Business Sutra’, famed story teller and interpreter of ancient Indian scriptures, Devdutt Pattanaik tries to relate myths and rituals to modern-day business practices. “The yajaman initiates this ritual, makes offerings into agni (fire burning in the altar), exclaiming, 'svaha' (this of me I offer), hoping to please his chosen deity or devta, who will then hopefully give him whatever he desires, exclaiming 'tathastu' (so it shall be)”. In today’s modern day management scenario, a corporate or an entrepreneur business venture can be interpreted as an ‘agni-kunth’ where the founder invests his money, time and energies. These tangible and intangible things will never come back once spent, so it’s ‘svaha’ – to the ashes. ‘Ahutis’ (or sacrifices) once burnt will not come back. That is why uttering the word ‘svaha’ is important; it means ‘burnt to ashes’. It is sensible to accept the fact that in businesses today, there will not be any pleased deity swooping down from some heavenly abode to grant ‘tathastu’. However, in modern management lingo the ‘devta’ in this context, is represented by the satisfied vendors and customers, who, happy with the products/services offered, are willing to pay a price – the ‘vardaan’ – the value in exchange. According to Jawhar Sircar, former Prasar Bharati chief, notable researcher, author and public speaker, "Managerial practices were in place, maybe not in articulated shape, in not just the church but in pre-Vatican times, too. The first corporate body in the world is the Buddhist sangha, in the 5th century BC. The sanghas followed human resource development practices like shuffling, promotion, lateral entry and expulsion." Even the thousand years old social order as practiced in Hinduism – led by the Brahmins at the top tier, followed by the Kshatriyas, Vaishyas and Shudras - have a precise sense of hierarchy, a similar version of which is propagated in most industries across the world. The two world famous pre-vedic epic poetries, the Ramayana and the Mahabharata, are scattered with instances of managerial practices and attributes, such as, Planning, Organizing, Leading, Controlling, and Coordinating among team members. Both of these sagas are target oriented with a right back up plan based on training, time management and analysis of the strength and weaknesses of the ‘competitor’ and what threats and opportunities are there in the business, as well as a united goal and unity of command of team members. Coming back to the 21st century corporate dynamics, ‘merger’ (combination of two companies to form one) and ‘acquisition’ (one company taken over by the other) have become commonplace business lingo that allow one business entity to leverage the other's advantage and expand footprint. In ancient India too, the concept of ‘Merger & Acquisition’ is aptly manifested in the ‘Jataka Tales’, where Buddhism appropriated north Indian legends by inserting a Bodhisatva figure

Prevention is always been better than cure. This is a simple idea. Yet many young managers under uses a lot of their productive hours in trying to find solutions to problems that could have been avoided in the first place, had they took this simple idea to heart - the best form of problem solving is to avoid problems altogether. It's always better and wiser to create systems that avoid fire than having one and fighting it in the first place. In today's economic climate, a young manager cannot afford to limit the usage of time, manpower and other management resources on situations that can be prevented in the first place, instead it is more important than ever he strives to cultivate a happy, and in turn, a healthy workforce with the right kind of good management practices. Managing people as the situation dictates Knowing your team means understanding what motivates and interests them and what they want of their careers. Knowing what drives people and drawing on their strengths really do achieve greater levels of ‘discretionary effort’. Different people need different styles of management and it is important to know how to handle all kinds of situation. The defining contribution that separates a 'good manager' from a 'great manager' is that the later boosts the engagement level of the people who work for them. They understand and respect the fact that selection of the right kind of people or manpower, and providing them with motivation and constructive freedom is the bedrock of any management function. Communication is the key Few skills rival the importance of effective communication when talking about good management practices. The ability to communicate ideas clearly to a diverse group of stakeholders will definitely help in getting the job done more systematically and with better precision, apart from facilitating transparency and better employee relations. Managers who communicate well are also more likely to become good problem solvers, which is an essential skill in any management practices. Limit work pressure and manage deadlines Everyone who has ever held a job has, at some point, felt the pressure of work-related stress and foreboding deadlines. Though in today's fast paced office scenarios , the stress of a corporate job is unavoidable but good management practices make sure that this level of stress doesn't reach chronic proportions. The best way to combat this situation is to decipher work problems before they crop up and delivering appropriate solutions. Also, being productive by adding value to one's working hours, respecting time, prioritizing work schedules and consulting seniors when in doubt, will prevent one from withering under the pressure of tricky deadlines. Recognizing achievement is a major motivator A simple ‘thank you’ goes a long way in exhibiting appreciation and celebrating major achievements that helps in team building and team bonding as well. A good word of encouragement, a pat on the back or a congratulatory email circulated, not only goes a long way in making the employees feel accepted in the ecosystem but also build the capability of the organization for the

"When you educate a man, you educate an individual; when you educate a woman you educate a whole family." - Mac Iver While gender differences still exist in professional study choices, women worldwide are demonstrating their intellectual ability and are approaching the levels of men in educational attainment. This shift in the academic dynamics and socio-economic scenarios is more prevalent in the rising economies like that of India's. There seems to be increasing awareness among the women in India about education being their ticket out of economic and social vulnerability. Even though, due to the dearth of female candidates in the engineering and technology disciplines, the entry of female students into IIMs have dropped this year; the All India Survey of Higher Education 2016-17 bears proof that not only the participation of women in higher education enrollment statistics has increased sharply over the years but this growth also holds great promise for the community's future in general. Women represent more than 40 per cent of the world's labor force. Yet their share of management positions remains unacceptably low, with just a tiny proportion succeeding in breaking through the glass ceiling to obtain top jobs. The higher the position, the more glaring the gender chasm. With the view to encourage women’s increasing level of qualification and work performance, various academic institutions have committed themselves to conduct programmes and seminars conceived not only to protect the roles and rights but also to facilitate the effectiveness of women empowerment in Management. This vision to empower women has been aptly echoed in Indian Institute of Management - Kolkata's announcement of its 2nd batch of 'Transitioning into Leadership: A Program for Women Executives 2018', which they successfully conducted in association with TSW, the executive wing of Times Professional Learning (TPL). This programme was launched in 2017 with the aim to prepare women executives, who have at least 5 years of managerial experience and a minimum of 50% in graduation, become proficient corporate leaders. (from L to R) Prof. R.C Bhattacharya – Vice-Chairman, GBS; Mrs. Ranjana Dasgupta – Trustee, Kalyani - A Bikram Dasgupta Foundation; Prof. Malabika Sarkar – Principal Advisor, Ashoka University/Former Vice Chancellor, Presidency University; Prof. Rohit Srivastava – Dean, GBS; Ms. Suchitra Guha – Advisor, C-suite of Tata NYK, Singapore; Dr. Chandrima Banerjee – Director & Co-founder, Unigrow Solutions Pvt. Ltd. A few days back, Globsyn Business School (GBS), in their attempt to send a strong message and create awareness on the subject, organized the hugely successful seminar on ‘Women's Empowerment’, with a hope to impact the students and young professionals on emerging as strong independent and powerful individuals, who will recognize and respect the role of women in the society. The seminar witnessed the presence of eminent women dignitaries from various notable institutions/organizations who presented their experiences and thoughts on the topic and indulged in an interactive session with the students and young professionals from the corporate world. In today's time, it is necessary to do away with gender biases and create a harmonious work culture for emerging young professionals

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