For management students, a summer internship is a fantastic learning opportunity. It gives you the chance to put what you’ve learned into practice, test your theories, and hone your professional and interpersonal abilities in a practical situation. You’ll be able to stand out from other applicants using this. A terrific professional and social experience can be had through an internship. There is no other method to learn how to effectively lead others and collaborate with a team. A summer internship is crucial for an MBA for this fundamental reason. A summer internship program is a perfect opportunity to explore career options and grow personally while immersing yourself in new experiences and exploring new places with friends.
The importance of Summer Internship Programs is listed below:
Networking: Internships are a great way to network with people in your industry. If you’re living and working with people in your field, you’re bound to make lasting connections that can help you in the future. That connection could be your next job or even a lifelong friend! Whether you’re working directly with an executive in your industry or with someone who works for them, you’ll have an insider view of the industry that no one else will have. This insider view can give you an edge when it comes time to apply for jobs because you have connections that others don’t have. Even if you don’t meet the CEO, you’ll still be working with people in your industry who can help you get jobs in the future and make lasting connections.
Builds your resume: A summer internship can be a great way to build your resume. Depending on the company or industry you choose to intern with, you may be able to add that experience to your resume and get hired by your mentor company after graduation. Depending on the internship, you may be able to add it to your resume as paid or unpaid experience. It’s helpful to find an internship that is related to your field of study so that you can use your experience to help in landing a job after your higher studies. Remember to keep track of all the skills you develop throughout your internship. It doesn’t matter whether your internship is paid or unpaid, this phase in a management student’s career is considered the learning phase, during which he/she can apply the theoretical concepts in real life scenarios.
Better job prospects: If you’re pursuing a summer internship program that is related to your major, you may be able to use your internship to help you find a job after your higher studies. For example, if you’re pursuing a degree in journalism, you could intern at a newspaper or magazine. If you’re pursuing an internship in the field you plan to go into, it can be much easier to find a job after your higher studies. Employers are often inclined to hire people who have worked in their industry because they can bring their knowledge from the internship into the company.
Discover your likes and dislikes: A great thing about internships is that it can help you discover what you like and don’t like about a certain career field. For example, if you intern with a magazine and realize that you don’t enjoy writing for magazines as much as you thought you did, you can explore other career paths. If you don’t enjoy what you’re doing, there’s no point in pursuing a career in that field. It’s a good idea to pursue a summer internship program in a field that you’re interested in so that you can discover whether or not it’s right for you.
An opportunity to work with smart and talented people: You may find working at a company where employees are eager to arrive every day invigorating and enjoyable if you are able to thrive off of ambient energy. You’ll likely have a more enjoyable experience and be more likely to seek out a similar workplace culture in the future if you seek out an internship at a firm where people are enthusiastic about what they do.
Access to mentors: While choosing a profession, it’s critical to have mentors who can guide you through the professional environment. Seek out workplaces that offer an infrastructure for interns to meet senior executives. Not only will this increase your exposure inside the firm, but you will also learn from people who have been working in the business or industry with expert-level knowledge.
Validating theoretical knowledge: By putting what you’ve learned to the test, you can confirm your interest in the sector you’ve chosen. Consider whether you could see yourself doing this for the long term and seize the chance to investigate various career options within your field of expertise. The chance to experience a potential professional path without having to commit to it long-term is provided by internships. Use this opportunity to better grasp what you enjoy doing.
A kick start to earning: Money shouldn’t be the sole consideration while selecting an internship, but it should be kept in mind, especially if you depend on it for support during the academic year or the summer.
ICFAI Business School is one of the fastest growing B-Schools in the country and offers an elaborative 14-week Summer Internship Program that assists the students in developing skills that the recruiters look for in a candidate. Furthermore, a 14-week long period also makes a student habitual of the industry dynamics.
Gaining experience in the workforce before entering the corporate world after graduation is crucial, but you also want to be sure that the internship you select will be advantageous to you in multiple ways. You’ll locate the ideal internship by using these suggestions.
Different individuals have different ways of learning. Instead of simply memorizing, many students choose to understand concepts. They enjoy taking in lessons from examples. Therefore, using case studies in the classroom is a very effective technique.
Case studies make the students understand real-world issues that businesses are confronting and help in developing a problem-solving
mindset. This approach also helps in developing analytical and decision-making skills.
Many businesses, legal and medical schools employ this practice to ensure students fully comprehend concepts, although very few institutions use it exclusively as a teaching strategy.
ICFAI Business School uses the case study method as a critical part of
the teaching pedagogy. With the aid of this approach, students are made to make decisions and their analysis gains a practical edge.
All the cases covered in the class are available on IBS’s website, www. ibscases.org. Access to this website is restricted to licensed users. These cases are used by professors to teach students concepts through real-time application. These case studies are also the foundation for students’ individual or group presentations in class. Students must analyze the problem the company/firm in the case study is facing and then propose solutions to it. Each student must present a problem-solving strategy and a suitable justification during a class discussion that resembles a debate. Because of this, the sessions are highly engaging and interactive.
Since every day presents a new challenge, business concerns also
change. As circumstances and challenges evolve, solutions to problems also change. Therefore, IBS Gurgaon has established a new cell in the college, “The Case Writing Cell” to develop and update the required skills for analytical thinking and problem-solving skills among students. Both teachers and students will contribute to the writing of new case studies. The active collaboration of the students with teachers is an innovative approach to student and institutional development. Prof. Jean Saldanha is the Coordinator and Dr. Vibha Arora & Prof. Rajesh Mishra are the Joint coordinators of the cell.
Together with IBS G students, they will explore the following areas or topics for writing case studies.
Human Resource: The success of business is driven by its people. In
order to convey to students, the necessity and significance of HR, cases will include a deep understanding of Diversity, Equity, and Inclusion, Upskilling, New age training tools, Mapping competencies for business success, Change Management, Agile organizations, Landscape for hiring in light of The Great Resignation and Automation in HR.
Marketing: Innovation and marketing of products are the major two
tasks that a marketing manager has to perform. If his performance is
not able to yield profit to the company, then he will not be of value
to the organization. In order to ensure that a future marketing manager has all the necessary skills, the following factors will be considered while writing cases: Sustainability, ESG, Omni channel, Consumer experience, Artificial intelligence, Chatbots, Artificial Intelligence, Machine learning, and Service recovery.
Finance: A thorough understanding of all the fundamentals of
financial management is crucial since finance without strategy is just
numbers. The following subjects will be some areas covered in cases
prepared to help students gain a thorough understanding of all financial concepts: Capital Budgeting, Working Capital Management,
and Investment analysis.
Operations: Nothing can be accomplished if the work isn’t done. The
operations manager has a major role to play in the continuation of
work. As a result, the cases will be prepared with the following topics
included in order to build the skills: Operations Strategy, Inventory control, Quality management, and Supply chain management.
Strategy: Any work that is pursued without a strategy is futile.
Therefore, developing strategies for carrying out the assignment is
necessary. The following topics are being covered under cases in order to strengthen this skill: Business Strategy, Formation of startups, Platforms business, Business Model, and Adapting to Technology developments.
IT: Information technology and business are now closely intertwined.
Without mentioning the other, no one can effectively discuss the first. Therefore, the following topics will be discussed in instances to instruct students on the value and application of IT: Adoption of blockchain, Mobile fitness applications, and Recommender systems in social media marketing and promotion, and Fraud analysis using machine learning.
All the cases that are written, will first be introduced in class before being sent for publication, to ensure that they are adequately tested.
Students will give feedback on the case, outlining what they learned
from it, what was missing, and what else could be added.
Through this cell, students will get opportunities to explore the changing dynamics of the business environment, and the challenges
that industry faces as it encounters various problems. They will also get an opportunity to create forums for discussion and brainstorming.
For writing cases, both primary and secondary techniques will be employed. These techniques will give students real-world knowledge and experience about real-world enterprises’ difficulties to survive. The student will have a greater understanding of the present working circumstances in any business through frequent visits to the industry and interactions with employees, enhancing their employability skills.
Have you wondered how the world would have been if we didn’t accept the changes and didn’t have to change ourselves with the latest skills?
As an entrepreneur, a new change has emerged, i.e., creating your start-up where you can operate the business in the market according to your terms and conditions. Where you didn’t need someone, who would be overseeing you, or you worked under someone whose synergy didn’t match with your options.
First of all, what is Entrepreneurship?
Entrepreneurship is starting and running a business, typically involving risk-taking and innovation. It consists in identifying a market opportunity, developing a product or service to meet that need, and building a team to bring the idea to fruition. Successful entrepreneurship requires combining skills, creativity, problem-solving, financial management, and salesmanship. Many entrepreneurs desire to be their boss, create something new and innovative, and positively impact the world.
There are four types of entrepreneurships generally in the market:
Social Entrepreneurship: This type of entrepreneurship involves using business strategies to solve social and environmental issues. Examples range from education start-ups to microfinance institutions.
Small Business Entrepreneurship: This type of entrepreneurship involves a single individual who owns and operates the business. Examples can be as diverse as your local electrician or the store next door.
Large Business Entrepreneurship: These are the entrepreneurial behemoths that have developed into full-blown companies that operate on a large scale. Think Amazon and Google.
Scalable Start-up Entrepreneurship: These are the start-ups in tech hotspots around the globe; they start small and quickly seek to scale up their operations with rapid innovation and global funding. Examples are the social networking sites that started small and rapidly grew.
You nowadays must hear the buzz about entrepreneurship, that many young entrepreneurs are starting their businesses, so why is there a buzz about entrepreneurs?
There has been a buzz about entrepreneurship in recent years because people are seen this as an opportunity to take control of their careers and create new paths for themselves. Starting a business allows individuals to be their boss, set their schedule, and pursue their passions. In addition, entrepreneurship can be an attractive option for those who want to positively impact the world by creating innovative products or services that solve problems or meet unmet needs.
There has also been a trend towards valuing the qualities that entrepreneurs possess, such as innovation, risk-taking, and adaptability, which can be helpful in any career. Finally, the rise of technology has made it easier for people to start and run a business, contributing to the buzz around entrepreneurship.
One question that may arise here is the importance of entrepreneurship and why one should think about becoming an entrepreneur and start its journey when there is a lot of uncertainty.
Entrepreneurship is essential to any economy because it can drive innovation, create jobs, and stimulate economic growth. Entrepreneurs are individuals who take risks to start and run their businesses, and they play a crucial role in the development and success of a community or region.
Here are some specific reasons why entrepreneurship is essential:
Innovation: Entrepreneurs are often at the forefront of new ideas and innovations, which can lead to developing new products and services that can improve people’s lives and solve problems.
Job creation: small businesses, which are often started and run by entrepreneurs, are a significant source of employment in many countries. By starting and running a business, entrepreneurs create jobs for themselves and others, which can help reduce unemployment and stimulate economic growth.
Economic growth: Entrepreneurs contribute to economic growth by starting and growing their businesses, leading to increased production and consumption and tax revenue for governments.
Overall, entrepreneurship is vital in driving innovation, creating jobs, and promoting economic growth, which is why it is a crucial aspect of any economy.
Contribution of Startups to the Indian Economy
Domestic startups closed investment deals close to $12 billion in Q1 2022, and India zoomed ahead to become the world’s third-largest startup ecosystem. Startups are flourishing, and the pace from prototype to market has accelerated impressively. Another barometer of the spectacular success of the startup sector in India is that it currently had over 100 new unicorns (A unicorn company refers to a startup or a private company with a valuation exceeding $ 1 billion) in 2022. One unicorn has been added every five days within the first two months of 2022.
Fintech, EdTech, HealthTech, cleantech, B2B SaaS, e-commerce, MediaTech, Agritech, FoodTech, artificial intelligence, nanotechnology, SpaceTech, web3 technologies, and more influence business and lives in a big way. And there can be no disputing the impact of startups on the Indian economy. It is a clutch of startups that would fuel India’s forward march to becoming the third-largest economy in the world.
The startups have scaled up quickly, impacting more jobs across all work levels. Indian SaaS (software as a company) companies are expected to make half a million new jobs by 2030, the travel and hospitality industry 52.3 million jobs by 2028, and the FoodTech industry 9 million jobs by 2024.
Some famous startups in India are Flipkart, Unacademy, Byju, Oyo, Ola, Zomato, Mamaearth, Boat, Lenskart, Cars24, Sugar, Emcure, BhartPe, etc. Apart from these famous startups, some have become a unicorn: Flipkart, BhartPe, Dream11, PhonePe, CoinDcx, Nykaa, etc., mainly these startups are in each sector where they are catering to consumer needs.
The startups significantly contribute to management school by providing students with real-world experience and practical knowledge. Through internships, case studies, and guest lectures, startups can help students apply the theories and concepts learned in the classroom to actual business situations.
Additionally, startups can provide valuable networking opportunities for students, as they often have strong connections with industry leaders and other entrepreneurs. This can help students make connections and gain valuable insights into the business.
Startups can also contribute to developing new curricula and programs within management schools. By providing input on the skills and knowledge that are most relevant and valuable in today’s business environment, startups can help ensure that students are learning the most current and relevant information.
Overall, startups can play a crucial role in helping management schools prepare students for success in the business world.
How is ICFAI Business School contributing towards catering to the needs of the new India as a startup hub?
The Innovation & Entrepreneurship Council (IIEC) at the IFHE is a research and training center that promotes innovation and entrepreneurship. The curriculum offered by the IIEC covers various aspects of innovation and entrepreneurship, including product development, business model design, market validation, funding strategies, and legal and regulatory issues.
The courses offered by the IIEC are designed to provide students with a comprehensive understanding of the innovation and entrepreneurship process and to equip them with the necessary skills and knowledge to bring their ideas to life.
The curriculum comprises multiple weeks of assignments that must be completed to complete the milestone and can go to the following milestones:
Problem Identification and Opportunity Discovery
Customers and Market
Create a Compelling Preposition
Build your MVP
Go to Market Strategy
Managing Growth and Targeting Scale
Milestone 4- Pitch Desk Presentation
Above is the program’s curriculum, and each student has to undergo these stages in chronological order to reach the final milestone.
The IIEC also provides students opportunities to work on real-world projects and interact with successful entrepreneurs and innovation experts. Through its collaboration with industry, government, and academic partners, the IIEC provides students with access to a wide range of resources, networks, and experiences that can help them build successful careers as innovators and entrepreneurs.
In addition to its academic programs, the IIEC hosts several events and activities that promote entrepreneurship and innovation, including
Through these activities, the IIEC fosters a culture of innovation and entrepreneurship and supports the development of the next generation of entrepreneurs and innovators.
The two programs that IIEC runs are namely:
1. IIEC- ANVIKSHANA (Pre-Incubation)
Jointly conducted by IIEC and Wadhwani Foundation and is powered by the highly acclaimed NEN-Ignite program curriculum.
It runs for 14 weeks.
Online Classes on weekends.
2. IIEC- UDVIKAASA is the same as Anvikshana, but the only change here is for anyone with a good idea, a proof of concept, and a product with a pilot customer base.
(The Wadhwani Foundation is a non-profit organization founded by Romesh Wadhwani in 2000. The foundation’s mission is to accelerate economic development in emerging economies by fostering entrepreneurship and innovation; it achieves its mission through various programs and initiatives, including incubators and accelerators for startups, training programs for entrepreneurs, and policy advocacy. The Wadhwani Foundation is headquartered in Silicon Valley and has offices in several countries worldwide.)
The fees for the 14-week IGNITE program is Rs. 1000 for student innovators and INR 2500 for non-student innovators. This fee includes access to the material, a one-to-one mentoring session with the program manager, live online workshops, and mentoring sessions with industry leaders.
The IBS Gurgaon emphasizes entrepreneurship, and with the focus on young budding entrepreneurs, there is a cell also where young entrepreneurs learn new insights about the entrepreneur world.
Every year, the Entrepreneurship Development Cell (EDC) of IBS Gurgaon organizes the ‘Campus Entrepreneur’ event where students become entrepreneurs and do the planning, organizing, directing for their ideas, and selling of their products to the audience. Through this event, participants generate a gist of entrepreneurship and what it is all about by tapping into entrepreneurs’ shoes and managing their ideas.
Entrepreneurship has seen a significant rise in India in recent years. This trend is driven by various factors, including the growth of the Indian economy, the increasing availability of funding and support for startups, and the government’s efforts to promote entrepreneurship and innovation.
Several key trends are driving the entrepreneurship wave in India. These include:
Digitalization: The growth of the internet and the increasing use of digital technologies in India have created new opportunities for entrepreneurs to start and grow their businesses.
Government support: The Indian government has implemented several initiatives to promote entrepreneurship, such as Startups India and the Atal Innovation Mission, which provide funding and support to startups.
Increasing funding: The availability of funding for startups has also increased in recent years, with the emergence of angel investors, venture capital firms, and other sources of capital.
Talent pool: India has a large and talented pool of young professionals who are increasingly looking to start their businesses.
Overall, the entrepreneurship wave in India is driven by a combination of economic, technological, and policy factors. As the ecosystem for entrepreneurship continues to mature, we will likely see even more startups and small businesses emerge in the country.
Do you know that the rate of change in human living standards in the past 20 years was higher than in the last 100 years?
These innovations include major sectors like media, climate action, and healthcare.
Every industry has its own set of principles. Also, they are unique if we compare them with the other competitors.
Being a management student, we must understand the changing marketing scenarios and how industries adapt to them. Also, these changes help industries to fulfill the changing consumer demand or taste and preference with time.
ICFAI Business School always keeps itself ahead to meet the corporate demand. Accordingly, it organized multiple formal industrial visits to make students
aware of the actual working conditions of different industries.
I am fortunate enough to be a student of IBS Gurgaon, where I got the opportunity to visit a manufacturing plant and see how classroom concepts applied to the ground reality.
Now, before moving toward my key learnings from this industrial visit, let us focus on their unique elements based on the classroom principles such as:
Customer Lifetime Value
You must have heard about a story of a company owner who broke the first lot of refrigerators due to a minor defect. After that, they stopped production and re-engineered the whole manufacturing process. Which removed the flaws successfully and brought the customer lifetime value by setting an example wherein the firm will not compromise the quality of their products at any cost. Eventually, once a customer becomes a loyal
Research and Development
With the help of research and development, including surveys, product reengineering, and design updates, the industry learned that refrigerator users use the freeze section more frequently than the freezer section. Due to this, they needed to bend to access the freeze section and primarily, women’s waist was affected and causing pain.
So, companies launched the newly designed Bottom Mounted Refrigerator. It replaced the traditional refrigerator design and put a freezer at the bottom.
Also, research and development help them in technological advancements of their products such as the Magic Convertor Technology, Twin Inverter Technology, Auto Clean Modes, etc.
The market consists of different firms, classified by positionings such as Leader, Challenger, Follower, and Nicher.
If a firm wants to lead the competitive market, it should either become a first mover or be able to distinguish itself from other market players.
Focusing on Electric Vehicle (EV) Segment
Different firms started manufacturing Electric Vehicles and even delivered them as well as efficient, reliable, and satisfactory electric vehicles.
Some firms known for appliances and other sectors took a step towards this EV segment, indicating that they are following the contemporary market demand to become a market leader.
Working for Drone Delivery:
A few years back, the viability of drone delivery seemed to be difficult, but technology brought it to reality. Drone delivery enables the quick and convenient delivery of products to the customer.
Followers can become a leader by moving if they launch their drone delivery service ahead of others.
5G Connect Internet of Things (IoT):
Many market players launched the functional model of smart home appliances, such as the concept of a Smart Kitchen, Smart Bedroom, Smart Bathroom, etc. where you can control and regulate these products through supported devices such as smartphones.
IoT is familiar to the market but still needs many functional updates for smooth processing and adequate output.
Here the Market Players forecasted the future of technology where Automated and Driverless Cars, based on the facets of Artificial Intelligence such as Machine Learning and Deep Learning-Artificial Intelligence, will take over the traditional mechanisms. A firm will become a market leader if it delivers the final product and become the first mover with a viable final product.
You can understand from the above that the market players are moving toward the future with the potential to become global leaders.
But do you know how they keep themselves updated with the concurrent demand?
Initially, the firms focus on mass production rather than demand. But nowadays, they take care of customer’s tastes and preferences. Which helps to bring customer satisfaction first and then profit. Also, it allows them to retain customers and attract new potential customers.
Now, my key learnings from this industrial visit are as follows:
Importance of Operations Management:
The industrial parks exist over a large area with limited manufacturing capacity. Through Operations management, the company uses multiple models to enhance the plant’s efficiency, productivity, reduce cycle time, and waste management.
Here, I have learned how industrial plants work on the Optimal Delivery Model, wherein the production of any specific product is based on the actual market demand.
Need for Supply Chain Management:
The industrial park manufactures the products in bulk and delivers these products across the nation. Complete supply chain management includes the product’s origin from the plant to the retail market or customer, called Supply Chain Management (SCM).
I have learned that the firm should also focus on its supply chain and operational efficiency to reduce waste/ defects and manufacturing costs.
Essential Marketing Strategies:
Companies used to segment their customers and distinguish them from their competitors. And if their quality standards and manufacturing process are in sync with government standards (ISO certification) and after-sales support ( Ten years of warranty). In that case, the customer will accept them with more confidence, resulting in high customer satisfaction.
Here, I have learned the importance of marketing strategies and their synchronization with government terms and conditions.
ICFAI Business School has been known for its delivery of excellence since 1995. These visits enhanced management student’s knowledge about the actual market situation and helped them understand the managerial concepts and their practical implications.
In 2022, ICFAI Business School completed its 25 years of glory and marked another achievement in management education. All the nine campuses celebrated the Silver Jubilee of ICFAI Business School with pride and respect, remembering the founder of ICFAI Business School, the Late Prof. N. J. Yasaswy.
Every occasion becomes an extraordinary one with the efforts and memories attached to it. Celebrating a span of 25 years in itself is a golden occasion. To commemorate the auspicious Silver Jubilee of ICFAI Group, IBS Gurgaon was pleased to conduct an enthralling Mini Marathon on January 6th, 2023.
The marathon was a torch relay to spread peace and prosperity.
The enthusiasm was not just shown by the students, but the same energy and zeal were also witnessed by the faculty members as well. Several faculty members participated in the marathon.
The Mini Marathon organized at the IBS Gurgaon campus was inaugurated by the Senior Director, Prof. S.C. Sharma.
Ready. Set. Go!
With the announcement of the Senior Director sir, the Mini Marathon was commenced by all the participants with great energy.
The euphoria of all the participants following their energized spirit marked a vigorous beginning of the Mini Marathon of 5 km., starting from the IBS Gurgaon campus, covering 5 different checkpoints in its route in approximately one and a half hours.
All the participants running in the Mini Marathon were provided with a mini refreshment kits.
The Marathon was divided into 5 checkpoints. These checkpoints were situated at every kilometer by the route map. These checkpoints consisted of students and faculty members to cheer the craze among the participants.
Marathon also unveiled the importance of the health benefits, which it brings along. It includes physical benefits as well as mental health benefits.
It’s rightly said, ” Running for something bigger than you is a great way to stay motivated and dedicated, making your running and races even more meaningful.”
Marathon also proved to be a rejuvenating break for all the participants from their daily routine to opt for something different yet productive. It turned out to be an effective one ultimately energizing the participant’s soul for the next coming days.
Taking initiative and running for a cause helps in generating a positive attitude and also helps in inculcating positive energy and motivating oneself towards adopting healthy habits eventually creating a strong positive base.
Wondering for a wonder,
Astonishing wonder you are.
Looking for thunder,
Booming thunder you are.
This initiative taken by the institute to celebrate the occasion of the Silver Jubilee created a dynamic, sparkling, zestful, healthy and lively environment in the institute.
It also improves memory and ability to learn. It also boosts a person’s feeling of happiness and makes the mind feel better. Such outdoor activities also reduce anxiety and depression. These activities help to maintain a healthy relationship and let oneself spend quality time with himself/herself.
All the winners (both faculty and students) of the Mini Marathon were felicitated with a trophy and a certificate as a token of appreciation and taking an initiative for a good cause. Participants wholeheartedly participated in the event which was evident during the Mini Marathon.
Mini Marathon conducted by the Institutional Building Cell along with the Students Council of IBS Gurgaon. The smoothe conduct by the organisers derives applause. It was conducted smoothly. The organising committee did a commendable deed.
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One of the most important competencies for managers nowadays is networking. Organizations anticipate that employees will interact with and make contact with those they work with. This can include customers, sellers, business partners, and government representatives. Individuals in a person’s network frequently receive business possibilities. So, in a situation when someone is trying to create a business, networking becomes a crucial ability. Both parties benefit from the relationship, making it a trait that everyone should possess.
Two years of MBA/PGPM offer an opportunity to connect and interact with a variety of people like faculty members, seniors, fellow classmates, alumni, guest lecturers and various industry experts. Stepping into a completely new environment, adapting to the surroundings and making new connections can be an overwhelming experience. But if we face our fears and step out of our comfort zone, we will be amazed by the effect networking can have on our professional and personal lives.
Networking is the most valuable characteristic an MBA aspirant or student can possess, here’s why:
Networking contributes to your social well-being: You can make lifetime friends and improve your social well-being by networking. It can help you to gel with like-minded people. The relationships which start within the professional atmosphere can go a long way.
Networking leads to the exchange of ideas: You can keep trying new things and keep growing professionally by embracing new ideas. You may be motivated to apply new methods or abilities to your work by learning what others are doing at their organizations. Your innovative ideas can let you stand out and be successful in your current role whether you work for a small firm or a major organization. Talking about your business with new acquaintances offers a distinctive viewpoint. Additionally, it improves creativity and motivation. A useful benefit is having an industry mentor or link outside of your organization.
Networking helps you meet people at all professional levels: In some companies, getting in touch with the higher-ups can be challenging. Networking might help you meet more seasoned professionals in this situation. Your future development depends on having the chance to benefit from their experience and professional guidance. These contacts offer fresh possibilities for job advancement and mentoring. Because of this, networking is crucial. You gain the ability to share your talents as well. Finding a new mentor may result from professional networking with a coworker you appreciate. At business and networking events, all it takes is a brief cup of coffee or some light conversation. Knowing people at different professional levels can open up a larger range of work options for you.
Networking boosts your professional confidence: Professional networking is a confidence-building exercise, particularly for shy or introverted persons. Its avoidance is mostly due to this. However, you’ll realise that networking isn’t that strenuous once you start discussing your common interests with a new buddy. Even if you’re an introvert, networking gatherings are a terrific opportunity to exercise your confidence. Speak up and discuss issues of paramount importance. You can cultivate greater confidence in your professional abilities by building new partnerships. It may also give you more social networking self-assurance.
Following are a few steps to take care of while networking:
As already discussed, approaching people to create a business network is a vital advantage of networking. The truth is that you have to reach out. Start by improving your ties to people you already know. Staying in touch will be ensured through occasional casual mail, thoughtful messages, or phone calls.
Finding out the interests and opinions is the next stage. You must sincerely care about other people’s lives and stories.
You then discover how to listen. This signifies that you are kind by lending others the patient ears they require. This will make the bonds stronger. It will definitely be a game-changer for you. generous acts that are reciprocated without you even having to ask.
Whenever you go to a new place, you are curious to know about that place. Similarly, when I received a letter from ICFAI Business School about the commencement of induction classes, I was excited about the campus, its culture, and the facilities it offers.
I still remember my first day on the college campus when I entered the premises and interacted with one of the finest people I have ever met. His name was Mr. Sonu Sharma, and he was one of the senior students on the campus, but he was so helpful to me. I asked him about the college environment, routines, schedules, rules, and regulations. Curiously I asked multiple questions, but he answered all the queries with a smile. Moreover, he suggested revising classroom concepts on the same day it was discussed by the faculty, as he did when he was a fresher.
My journey and our friendship started from that day till now, and I hope it will last long. After that, he introduced me to the other seniors, who were so kind as to tell me that I could ask them for any guidance Hassel freely at any point.
As per the schedule, we have Continuous Evaluations of each subject. These evaluations were a part of the pedagogy, and it would be compulsory for all students to appear for the same. After getting this, I was wondering about these evaluations, such as what will be the format, what kind of questions will be there, how to prepare and score well, etc.
Once again, I reached out to my seniors because they had already gone through this phase. And were the right person to resolve all my queries.
Therefore, I asked one of my seniors, Mr. Kavish Sekhri, to brief me about these evaluations, and he generously agreed for the same. At first, he told me to keep myself calm and start preparing from that day. He also shared the previous year’s Question Papers and the steps to write an effective answer, including current examples, diagrams, flow charts, graphs, etc. I followed him and fortunately scored well.
Later, the college announced an annual inter-college competition and being a sportsperson, I was super excited to be a part of it. I participated in multiple events such as Football, Chess, Kho-Kho, and Cricket.
Meanwhile, they also announced the Mid-Term Examinations 10 days after the competition. Again I was worried about my results and academic performance. I could not deliver my best on the ground due to my half-hearted presence. I realized that if it continues, I will perform poorly in Exams and competitions.
Eventually, I approached one of my seniors, Mr. Sanskar Singh Sisodiya. He blissfully told me never to try to sail in two boats simultaneously. Moreover, he said that you should focus on this two-day event and devote your time to your studies after its completion, as the gap between the competition and examination was ten days. So, start prioritizing things and give your best for better results. He also gave me quick tips on preparing well and told me the importance of class notes, syllabus, revision, and asking doubts. Gradually, these tips helped and yielded fruitful results in the form of A Grades in every subject.
Coming to the End Term Examinations, considered a crucial part of the semester, comprise 40% weightage.
Can you figure out my next step after knowing their relevance?
Yes, you are right! I reached out to my seniors and met Ms. Radhika Mehra, who got the first rank in his class. I asked for her guidance to excel in exams. She perseveringly told me about time management and how to manage it for different subjects. Moreover, she told me to jot down the essential points separately for daily revision, practice the numerical portion, refer to different author’s books, bring conceptual clarity, etc.
Here I want to quote a proverb that you are aware of i.e. “Practice makes a man perfect” and I started practicing these guiding elements. Eventually, I scored well in these exams with lots of hard work, dedication, and perseverance.
The crucial moment came when the process started for the Summer Internship Programme (SIP). The administration addressed students with every minute detail, but I still consider my seniors as my mentors.
One of my friends told me about one of our seniors Ms. Sheetal Bisht. She was selected for SIP on her first attempt and received a letter of appreciation from the company guide later. So, I approached her and asked about the process, its fundamentals, and how to perform well. She diligently discussed all the key aspects of the process. She emphasized improving soft skills, preparing a working resume, following the SIP handbook word by word, keeping in touch with your faculty guide, finding out valuable project ideas along with effective project reports, etc.
The process started and the very first company shortlisted my resume. But unfortunately, I was not selected after the final interview. Then again, I met Ms. Bisht, and she told me to find my weak areas and do some research or homework about the company’s culture, market position, and achievements.
Fortunately, I got selected on my second attempt by adhering to her words.
Once again, my senior helped me choose electives for the final year. The electives were one of the significant decisions for any management student as they will decide their future career path.
Gradually, I met Ms. Pragya Jaiman. She was a phenomenal decision-maker and helped a lot regarding my electives. It was a tough call for me, but she made it easy, and after a lengthy discussion, I could figure out my electives. Today I am ready to take off and proudly say that my seniors were my mentors at every crucial stage of my journey at ICFAI Business School. I was lucky to have my seniors’ patronage and wish to work with them in the corporate world as well.
“Growth is never by mere chance; it is the result of forces working together.”
A quote by James Cash Penney beautifully defines that growth is a vast concept and it is attained by a lot of efforts and environmental push.
Keeping aside other factors for a while. At the age of 21, I can genuinely say that my time at IBS Gurgaon has been life-changing. I have learned a lot about myself and my goals, what I want my future to look like. If I was not here, I don’t think I would have been saying this.
To begin with, it was a completely alluring experience when I joined college as moving away from my hometown and shifting to a new city, which was already a big change I was experiencing and I know a lot of students experience the same.
Entering the real world seems challenging and difficult at first, but once I got into it, it was not as difficult as I had thought it would be. In fact, you will find yourself doing things independently sometimes, whether it is managing your daily chores or motivating yourself in the middle of the night to study.
I’ve always been an introvert while growing up. I have struggled a lot while socializing and fitting in. If I was put into a situation where I didn’t know how to do something or put myself into groups with people I am not familiar with, anxiety would overwhelm me and make me want to run away. It was so awkward for me that I would rarely talk to people at all, because I feared that I would say something really senseless. I was comfortable enough around my friends to be loud, but at school, I was typically seen as the quiet or shy kid.
College is where I opened up a bit more and started finding more things that I was interested in. For instance, my passion for writing. It was always convenient for me to write my emotions well. Happy, sad or angry, all of my emotions could be expressed in a better way when I would write about it. But I never knew I could use this as my talent.
Right after joining IBS Gurgaon, one of my professors suggested that I join a cell called Digital marketing cell. I had no clue about the cell but the process was to complete tasks and appear for an interview if I want to join as a content writer. It was a completely different experience for me as I had no prior experience of doing this work but to my surprise, I got a lot of motivation from my batch mates and professors, who pushed me to give my best. I successfully completed the procedure and got into the cell.
Today, I can proudly say it was the best decision of my life as I found a purpose, something I’m good at, a skill which is getting better day by day and a whole new awakening. All thanks to IBS Gurgaon as I never knew I can ever be a content writer as well. Not only have my writing skills got better but I have also evolved as a person. There are so many things that I learn on a daily basis. Handling tasks, covering events, managing a campaign, writing blogs, creating captions for posts, handling social media and so much more.
This was just one example of my journey here. I have a never-ending list of learnings and growth that my college is providing. IBS has challenged me in so many different areas, but it has also provided me the opportunity to grow as a person and learn who that person is. It has taught me much about what I value and who I want to be or aspire to. I have become a person who likes to get out, try new things, socialize with new people, but ultimately needs time to myself to recharge for the next new thing to try.
College experience surely differs from person to person but after joining IBS Gurgaon I realized higher education is not solely limited to your career and placements. It is much about growing personally and finding your hidden talents which ultimately help you grow as an individual and as a professional. There are days when you face a lot of hardships and then there are days when you are enjoying the reward of your hard work.
Today, I can say that since the time I entered this college,
I have grown as a person,
I feel independent,
I have gained confidence, my communication skills have got better,
I can solve unexpected problems,
I have attained work life balance and the list continues.
I am sure till the time I enter the corporate world I’ll be a more confident individual who feels ready to enter the corporate world and is never afraid of any challenges that come across.
Cases typically highlight specific circumstances in which individuals have to deal with a certain situation that might involve a difficult or new situation and are forced to take action. This kind of learning encourages students to act as problem solvers and develop critical thinking.
Occasionally, cases are created to serve as references for various aspects of the issue confronted. This kind of instance covers the problem, the selected solution, and its result. Situations of this kind are reviewed, and the students analyze how and why a solution given had or hadn’t worked. Through this students gain a stronger understanding of all the important elements of a certain problem.
Cases engage students to carry out the particular task while reflecting on their actions. In essence, cases give students chances to examine and address pertinent real-world practical issues. Case studies force students to test their knowledge rather than just remember. Therefore, situations are helpful in training that calls for higher-order thinking skills like interpretation and problem-solving. Students who actively participate in learning and problem-solving are better able to adapt what they have learned to circumstances where issues are comparable in the real world.
Activities in the writing process
Writing cases is difficult, but the lessons that can be learned from using them are often worthwhile. Writing cases can actually improve one’s research and teaching. The writing process comprises four major activities: planning, organizing, drafting, and revising.
Planning is the creation of a strategy that outlines the crucial steps and components of preparing a case. A case writer must perform the following steps:
(1) Determine the goal of the case writing assignment:
When writing, you should think about the lessons students are expected to acquire from the case as well as the context in which the case will be used in the class.
You must take into account the target audience, and consider or make a list of the learning objectives you want students to achieve while and after working through the case.
(2) Identifying the learners:
Like any kind of writing, you should be aware of your audience if you want your readers to understand the concepts and information you are attempting to get through.
These cases are written with students in mind. So, the author should know how much subject knowledge students have? An effective case should capture students’ interest and encourage them to grasp the concepts and laws that have been or will be presented in greater depth.
(3) Deciding what information should be put into the case:
The availability of information immediately affects your choice of material and its caliber; thus, it is important to think about how to get information.
Every writing assignment calls for research. Once you have determined the case’s problems, you must start looking for items to make the case real and actual. You could get the case study information from your thoughts, from tales you have heard from friends or co-workers, or from books and articles. The information can also be acquired by conducting interviews with professionals on the subject matter you are working with or with employees of a particular organization whose work interests you and is relevant to your case problems.
Organizing is the arranging of thoughts to best serve the case’s objective. Instances should be provided in a narrative style since a story is believed to encourage the reader to actively engage with the facts. Additionally, cases tend to be problem-based in nature.
A narrative is typically organized chronologically, or in the order that events take place. You can arrange things in terms of importance, or you can start with the location and time, or the event itself. Beginning the action at its conclusion or somewhere in the middle and telling the story through a sequence of flashbacks can occasionally be more effective. No matter how you set out the case, the key is to maintain students’ interest and focus on the points you want to make.
Putting your ideas and thoughts on paper is called
drafting. Ideas are turned into real words and sentences through this process. A case writer should have ideas about what to write about in the case and how to communicate those thoughts after planning and organizing the case-related tasks. Additionally, before starting writing, all resources and data needed to build the case should be available. The case should draw students’ attention to the learning-related concerns you want them to investigate. The case is developed in such a way that the description will encourage students to investigate the learning concerns and include them in identifying and resolving issues.
Rereading, analysing, and revising help to make the written case stronger. You must read carefully and critically when rereading. You must be aware of what to look for while evaluating, which means you must recognize the key elements of the case and evaluate them by a predetermined set of standards or guidelines. It can occasionally be beneficial to have someone else review your case to provide an unbiased assessment.
Consider the following inquiries while you review, whether you are reviewing it yourself or having someone else do it:
1. Will the case produce the intended learning outcomes?
2. Are the problem issue(s) presented in the case related to the learning outcomes?
3. Is the case sufficiently complete, complex, and focused?
4. Does the case present a situation, problem, or issue?
5. Does the case appear to be realistic?
6. Are all the elements of a narrative style used in the case?
7. Are the events and actions in the case sequenced in a logical order? 8. Are the events connected with appropriate transitional signals?
9. Is the content in the case accurate, relevant, and appropriate in terms of subject matter?
10. If there are external resources, are they appropriate?
Hope the above information helps you to write a case.
A business school is much different from a regular graduation college. The campus environment, classrooms and curriculum, everything is different. Here you will see students coming from different backgrounds. You can find a graduate student who is looking to start his career with assurance. On the other hand, you can also meet an experienced professional who is looking to make a career change or progression in his career whereas you can meet with an entrepreneur who wants to excel his business.
Everyone who attends business school has different dreams and strategies to enter the corporate world. Your success in the business school will depend not only on your academics but also on your people skills. This is a major difference that students face. Business/Human Management and Administration is all about managing people and resources. You have to have a strong ability to network and make the connections as it will help you grow faster.
Keeping aside growth and subjects, the teaching methods implemented in decent business schools are quite different too. A lot of emphasis is paid on case studies, projects and presentations. Eventually, working on the overall growth. A PGPM or MBA student needs to devote time in preparation for the class and not just in completing assignments.
But all these challenges are external. When you are studying in a B-school there are a lot of internal challenges as well. One of the most important challenges is to choose electives after the first year. Although if I talk about my college which is IBS Gurgaon, they help their students a lot by providing the right information about each domain, subjects in each course, career opportunities after each course and much more.
But at the end of the day an individual has to decide his or her path and finally make the best decisions. I have seen a lot of my friends struggling in this process. Mind boggling is because of the fear that what if they end up making a wrong choice. Considering the fact that your whole career depends on one single step it becomes all the more important to choose electives as per one’s interest.
Talking about myself, I always wanted to choose HR as I really want to work in a company’s human resources department that focuses on the hiring, training and growth of employees. Fortunately, my college gave me all the information about this domain and made me realize what I actually want in my career. Career development opportunities, job security, career flexibility, good salary and of course the job satisfaction is most important to me. Professors at my college who have specialized in this field shared all the details of the HR domain, which helped me in deciding the same.
If I have to give advice to my fellow mates or anyone who is dealing with this same confusion then I would say there needs to be a balance between what you like and what is useful. Some steps that could be taken are-
KNOW YOUR INTEREST- We all have certain goals and aspirations. Corporate world is a huge space for people where everyone is working on different aspects. So first you need to understand your interest and choose the area where you want to work and grow.
FOCUS ON YOUR INTERESTS – There are few areas which interest you and where you want to build your career. It is important to know the difference and decide where you want to build your career. For instance, I was always drawn towards marketing as well and scored decent marks but I never wanted to build my career there.
CONSULT A SPECIALIST OR ADVISOR- An academic advisor can help you figure out the best electives to take for your particular educational journey and career goals. For example, an advisor can identify a minor that may complement your career path and electives that can double as prerequisites for that minor.
EXPLORE JOB OPPORTUNITIES IN THAT AREA- In order to decide the electives better, explore different job opportunities in all the domains and then decide in which field you want to work.
College electives exemplify the ideal educational experience — you get to choose what you want to learn without restrictions. Sometimes it is difficult to choose the apt course but with right guidance and support one can take a right call and move forward in the desired field.