After Covid: Phoenix like Rise for India- A Mission

India is in turmoil. Despair all around. Snake-like rise in Covid cases during April'21 has caught everyone by surprise. Medical infrastructure is under immense stress. The current surge in cases has happened due to new variant of corona virus, which is highly infectious, and has seen hospitals run out of beds and oxygen and families of patients for medicines. According to WHO, India now accounts for 46% of world's new cases and a quarter of deaths due to virus. From being a vaccine and medicines/PPE kits provider till March end, our country has turned into receiver of international aid within one month.

Situation Analysis: India and the world is caught with surprise

A report in Indian Express dated 18th March had stated that temporary hospitals built during 2021 to tackle the corona crisis were being dismantled and ventilator manufacturers facing closure. And see how the situation turned drastically in April (golden line in the graph shows the intensity of the second wave and the black the first wave), proving all forecasts and predictions wrong.

Source: Prof. ShamikaRavi@ShamikaRavi

Many lives have been lost due to the fury caused by double mutant. Infrastructure is under immense pressure and the times of lockdown are back. Again we have the migrants' problem to deal with. Students also are experiencing stress. Number of active cases are expected to peak, but not before mid-May. Immense loss to economy, which was expected to grow (as reported in last week of March) by about 11.5-12% in 21-22.

The NorthCap University Initiatives: Presently, the university is closed. Like during the first wave, the institution is engaging with the students in online mode, using technological tools. Minor exams have been conducted in online mode only. Necessary support is being provided to students and faculty during this period. Verified addresses are also being provided for sourcing essentials like oxygen, beds, medicines, Plasma etc.

Future Direction for the Country: Faced with faith-accompli, our country has to cope with all determination and collective efforts. We have to face today's uncertainty with all our strength. Masking, sanitising, vaccinating have to be our weapons. We have to respect the law and continue with Covid-appropriate behaviour. Most important, young have to stay safe, lest they infect the elderly at home. Today, not only our immunity but also spiritual strength is under test. Many organizations and individuals are helping the hapless during this crisis. This gives courage to one and all. There are so many stories of help emerging, almost regularly. Now, as a country, we have to not only recover as fast as possible and prevent any fresh wave of infections, but also rise like Phoenix and become a giver to the world community in the next three years. That should be the mission!

Prof S.K.Breja

Distinguished Professor
(Strategy and SCM)

School of Management

Zooming on: Economic revival, growth and the focus areas for our country in 2021

January 2021 has brought cheer to the Indian economy, reflected in improvement in market sentiment and new peaks scaled by the stock markets. Our country appears to be coming out of the Covid-crisis, gradually. Much awaited vaccines also have arrived! We are upbeat about the prospects for the economy, and according to the experts, what we are experiencing is ‘V’ shape recovery of the economy. There are expectations that after contraction to the extent of around 7% in the current year, Indian economy can grow at the fastest pace in the world again next year and grow up to 11% in 2021-22. This is the view of the government and IMF too. All this augurs well for the country, aiming to become $5 trillion economy. However, scaling new peaks for the Indian economy needs attention to three important issues/areas: Quality, supply chain management and innovation.

Quality is the prime requirement for global acceptability of products. We have to improve the quality of Indian products and services, and build our credibility around quality. Self-reliance or ‘Aatmanirbharta’ and making ‘local products for global applications’ need focus on quality. ‘Brand India’ has to be known for ‘quality with sustainability’! Our Prime Minister too has been stressing on ‘zero defect and zero effect’, on sustainable development and excellence. We have to safeguard the interests of present as also the future generations. This is possible when we think about quality and sustainable supply chains!

Supply chain management and logistics are the tonic for the economy. Logistics, infrastructure, technology and strategic initiatives, along with quality, can help create increased and sustained demand for ‘Made in India’ products. ‘Demand pull’ is the dream of every supplier and its realisation is possible if the country keeps focus on quality in inputs, processes and outputs. After the success in winning the war on corona in 2020, 2021 can well be the inflection point for us as was the second world-war for Japan, which focussed on quality from 1950s onwards. It learnt from the teachings of Dr Juran and Dr Deming, developed new Total Quality Control (TQC) techniques and became known for concepts and tools like kaizen, fish-bone diagram, Quality Function Deployment (QFD), Just-in-time (JIT), Toyota Production System (TPS) philosophy and so many other concepts and techniques. The efforts brought out the Japanese economy from the ravages of war and Japanese products became synonymous with quality by 1970s. Japan became the most important part of global supply chain, especially in electronics and automobiles. Today, we too have the need and the opportunity and our IT talent is the booster for us. IT talent, through technological innovations, has played an important role during the Covid times. IT is ushering never-seen-before innovations!

Innovation is going to provide the required global push to our products and services. Our youth have to have innovative thinking, make use of technology, create innovative products and not duplicate the efforts of other countries. AI, cloud, IoT are accelerating the growth of the industry, called Industry 4.0. Innovations in education, health and pharmaceutical sectors are the real blessings of 2020 for our country.

Technology has helped educational institutions and the students face the challenging times with ease. The NorthCap University being frontrunner in technology adoption started online classes on Microsoft Teams from March 16, 2020, much before lockdown was announced, and utilized Technology tools like Learning Management System (LMS) and ERP in imparting students, seamless learning.

Technological innovations and innovative thinking will help us leapfrog completion and take our country to new heights! To conclude, dedication to quality- creating value for money for the customer, investments in logistics and infrastructure and innovation will help the Indian economy zoom on!

     

    Prof. SK Breja

    School of Management

    The NorthCap University

Careers in the Wake of Artificial Intelligence (AI)

Technological disruptions are seen as a threat to existing jobs and even businesses whether it is AI (Artificial Intelligence), IoT (Internet of Things) or Automation. Artificial intelligence has sparked a row about its impact on jobs and society. When we discuss about a phenomenon like this, we must understand the fact that change is the law of nature and that is how humans have evolved.

When robotics was introduced in automobile sector it was hugely debated and was seen as threat to assembly line jobs but what we see today is increase in car sales, manufacturing of affordable cars and overall growth of industry ultimately resulting in job creations. Same was the case when computerization of banks started in India it was hugely debated but if we look at it now, we can see drastic changes in terms of quality and speed of transactions as well as more job creations. ATM's are another example. The point is that in all the above scenarios strong technical as well as human skills are required, and continuous learning becomes need of the hour. 

In a recent report PwC states that while AI could displace 7million jobs in UK, it could also create 7.2 million jobs.  It will require strong technical capabilities as well as skills like creativity, problem solving attitude and teamwork which are unique qualities of humans and can't be replicated. Therefore, learning will be the most important aspect of employability and only technical skills will not be enough for future jobs, strong management skills will become quintessential which can be acquired by quality management education. Thus, in order to thrive one must abreast with the skills required through education and continuous learning.

#Dr. Akshat Aditya Rao, School of Management, The NorthCap University Gurugram

Market Crash – What to Do?

“Sensex cracks 714 pts, Nifty below 10,500: Exit poll, growth worries weigh” The Economic Times. 

A stock market crash is an abrupt theatrical decline of stock prices across a momentous cross-section of a stock market, resulting in a substantial loss of paper wealth. Crashes are driven by panic as much as by underlying economic factors. They often follow speculative stock market bubbles. Stock market crashes and pullbacks can seem terrifying or scary. But you are actually worse off in your Individual Retirement Account by not investing in stocks than you are if there is a pullback or crash. Because wealth is all about investing and to do that, you have to take risk and invest. Since yesterday, the market is getting down because of expecting political changes in the country. 

In fact, the market has not crashed but with the increased volatility and the current bear market, it is on everyone’s mind. So it is advisable to not freak out as market crashes are normal and market doesn’t go up in a straight line. It is further advisable to diversify your money in different investment avenues along with stock market and to invest in the companies that are undervalued, profitable and have good Balance Sheets as these type of companies are likely to survive a recession.

#Dr. Esha Jain, School of Management, The NorthCap University Gurugram.

Pre Placement Preparation

Pre Placement Preparation is crucial to help students gear up to face the professional world. Keeping this in mind, School of Management organized the Pre Placement Interviews on 22 April 2017 for their MBA students. The Alumni of SOM - Pushap Karan  (Macquarie, Investment Bank), Rishika Singhal (Moody's Analytics- Investment Banking Division), Noopur Gupta (Quotemykaam.com (Home services provider), Trisahla Bhan (Proviti), Abhinav Malik (Protiviti) and Puneet Khanduja (Mercer Consulting) – made it to their alma mater for this event. The interactive session started with the alumni sharing their journey from campus to the corporate world and then the MBA students asking a lot of questions. Following this, the PPIs commenced with three panels. Each panel dedicatedly spent an average of 20-25 minutes on each student giving detailed feedback on their strengths, areas of improvement, CV correction etc. The event started at 11 am and continued till 5 pm. 

6 Reasons to Study Management Programmes at NCU, Gurgaon

THE NORTHCAP UNIVERSITY (formerly ITM University, Gurgaon) is a premier private university located in the Gurgaon. Synonymous with its name is an undying commitment to provide quality education and nurture young minds in an environment characterized by innovation, ethics and academic excellence. It’s a multidisciplinary university running Doctoral, Postgraduate and Undergraduate programmes in Management, Engineering & Technology, Applied Sciences and Law. 

The status of a multidisciplinary private university lets its primary stakeholders i.e., students enjoy opportunities of getting holistic education being imparted by specialized faculty and learning courses that are industry relevant and industry driven.

School of Management at THE NORTHCAP UNIVERSITY promotes excellence in the field of management education. It celebrates the diversity of talent that students bring to the university every year and manoeuvres to build and enhance students’ intellectual capacity with an assortment of research, industry-academia interaction and contemporary learning methods & practices. Learning at SOM, NCU rests on two important pillars of industry-centric courses and of excellence in management research. Each year it sees new batches of enthusiastic students joining in and converts them into excellent professionals while leaving it, to join the corporate world.

SOM, is indeed a place to be and is a dream destination of many seeking admission to BBA, BCom (H), BSc Economics (H), MBA or PhD courses on account of the following reasons:

1. Innovative Learning

The curriculum for all programmes is completely industry driven and hence, students learn useful content that is applicable when they start working. The methods of learning are most contemporary and picked & chosen in accordance with the students’ profile. The concept of flipped classroom is put into practice here. Teachers use smart boards and smart technology to engage students and create effective learning experiences for them.

2. Learned and Committed Faculty

The faculty at the School are learned and specialized in their fields. Moreover, since it is a part of a multidisciplinary university, subjects like IT, Business Law, Mathematics, etc. are taught by faculty from other schools. The faculty are active in their interactions with industry and research activities and hence they bring rich content to their classes. Most of the faculty are Doctorates and the others are pursuing their PhDs.

3. 360o Development of Students

It is strongly believed that if knowledge in imparted in classrooms, the application of that learning happens beyond the boundaries of the classroom. Students at the University are involved in various extracurricular activities. On one hand they do serious stuff being active members of Entrepreneurship Cell and Yukti (CSR cell) and on the other they explore their creativity and managerial skills being part of the university fest and other events. Industry interactions and visits give them fair idea of how business really works. Interactions with global experts who visit the university, give students required exposure to hit the corporate world with confidence. Foreign language courses are imparted to ensure that students build up on their global competence.

4. Placements

Placement opportunities are provided to all UG and PG programmes. Since, it is an important activity the School manages it very professionally through School of Professional Attachment (SPA) that is a part of the NCU. The School boasts an excellent placement record with companies in and around NCR. A large proportion of students is placed before their programme comes to an end.

5. Thrust on Entrepreneurship & Research

SOM seeks to build and enhance students’ entrepreneurial skills and research acumen. Students undertake a research report in their final semesters and explain complex business phenomenon. Similarly, Entrepreneurship Cell at the campus provides for various entrepreneurial trainings and workshops. Students keenly participate in these.

6. Excellent Infrastructure

The physical, academic and information infrastructure at the University are excellent and are more than often talked about in media. The library has access to various research databases. The classrooms are air-conditioned and equipped with smart boards. Modern teaching aids and equipment are utilized to promote quality learning. the campus has a 24 hour wi-fi. 

In all, the learning experiences crafted at the University respect the uniqueness of each student and ensure that students develop in a psychologically safe and stimulating environment. Outstation students find their accommodation in university’s hostels and feel at home. Inside the campus, faculty mentors students and takes ownership of students’ professional development and emotional well-being. Year on year undergraduate students have got back to the school for taking up the postgraduate programme. School of Management, THE NORTHCAP UNIVERSITY is indeed an epitome of quality education with a personal touch. 

Ms Jiveta Chaudhary
Asst Professor
School of Management
THE NORTHCAP UNIVERSITY, Gurgaon

B-SCHOOLS IN DELHI-NCR COME TOGETHER AT ECONOMIC FEST

Application of theoretical concepts is a crucial part of studying economics and business management. The focus of most B-Schools in Delhi-NCR today is to encourage and motivate students to apply their business knowledge to solve real world and contemporary challenges. Due to the increasingly complex nature of organizations and businesses in the modern globalized world, business schools need to impart relevant, current and cutting-edge knowledge and skills to their students so that they have an edge over others. By just acquiring an economics or MBA degree one could understand the theory but may not necessarily understand its application in say - marketing. Economic fests provide students a platform for healthy interaction and to showcase their talent. 

In this context, one of the young leading B-Schools, the School of Management at THE NORTHCAP UNIVERSITY (NCU) organized an economic fest ‘Arthshastra’.Economics and Business Management students from different universities and colleges across Delhi-NCR participated in various competitions that tested their knowledge and grasp of economics and business concepts and theories.

At Arthshastra the simulations, competitions and presentations motivated students to interact, discuss and analyze various situations and provided important insights into the world of economics and brushed up their business acumen. The events covered areas of practical relevance to entrepreneurs including a mock stock market, asset price volatility etc. It enabled students to identify viable business opportunities, feasible and sustainable business options.

Discussions are an excellent strategy for fostering intellectual agility and enhancing student motivation and passion for the subject. They create opportunities for students to practice and sharpen a number of skills like communication and leadership skills, including the ability to articulate and defend positions, enlist and evaluate evidence, consider different perspectives and develop their own views. Benefits associated with educational fests include opportunities to:

• Stimulate thinking and deepen understanding of concepts and theories.

• Apply theoretical knowledge to solve problems and maximise creativity.

• Test understanding of theory and helps develop new insights.

• Learn from other’s perspectives.

• Develop intellectual and critical skills as well as group work skills.

• Prepare and deliver oral presentations.

• Encourage students to apply and test their learning.

In summary, NCU’s Arthshastra helped to enhance the self-confidence and leadership skills of students which are essential qualities in any business organization. It helped economics and business management students to understand the working of the business world and develop managerial skills among budding entrepreneurs in an environment of enthusiasm and competitive spirit.THE NORTHCAP UNIVERSITY has more such events planned for 2016.

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Written by Rekha Mathur