Faculty Speak

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Dr. B. K. Das

Kudos to our CCR team for ensuring Summer Placement for all the students in top class organisations. It is heartening to know that most of the Finance students have completed SIP in various Banks. I understand many of them had been working on CREDIT relating to Micro and Small Enterprises (MSEs) sector.

The Reserve Bank of India has recently asked the Banks to raise the limit of bank loans to these sector engaged in providing or rendering of services from `20million to `50 million rupees per borrower/unit, provided they satisfied the investment criteria for equipments as defined in Micro, Small and Medium Enterprises Development Act, 2006.MSEs are prone to sickness due to structural and multiple constraints due to various internal/external factors. These are not financially strong to absorb even minor disruptions and tend towards sickness. The problems at the initial stage, if not promptly addressed, can lead to sickness and closure of the units .

In order to hasten the process of identifying a unit as sick, early detection of incipient sickness and laying down a procedure to be adopted by banks before declaring a unit as unviable, the Reserve Bank issued revised guidelines on November 1, 2012 for rehabilitation of sick units in the MSE sector. Again on May 9, 2013 the RBI issued guidelines to Banks to strengthen their existing systems of monitoring credit growth to the sector and putting in place a system-driven comprehensive performance management information system (MIS).

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Dr Prithvi Yadav

Business Intelligence (BI) refers to the use of technology to collect and effectively use information to improve business effectiveness. An ideal BI system gives the employees, partners, and suppliers of an organization easy access to all the information they need to effectively carry out their roles, and the ability to analyze and easily share this information with others. With its roots in inflexible early databases and “executive information systems,” BI has evolved to become a powerful set of technologies suitable for different types of users and information analysis needs.

Today, only 19% percent of companies say their employees have all the data they need to make informed decisions. Yet according to a 2000 International Data Corporation (IDC) study of 65 companies, the mean return on a BI investment was greater than 400% over 2.3 years. Figures like these have meant that BI continues to be an area targeted for increased IT spending in the years to come.
            

Six Sigma is a disciplined, data-driven approach and methodology for eliminating defects (driving towards six standard deviations between the mean and the nearest specification limit) in any process, product, or service. Pioneered by companies like GE and Motorola, Six Sigma has its roots in quality management initiatives and like them, is disciplined in its use of facts and statistical analysis to achieve no more than 3.4 defects per million opportunities. However, Six Sigma is not “just another quality initiative.” It emphasizes the need to start with processes and defects from a customer’s point of view, and outlines a management organization for effectively implementing change.

A Six Sigma initiative is typically led by an Executive Champion, in charge of ensuring that the initiative gets the support it needs—GE’s Jack Welch, for example, was known as an unwavering champion of Six Sigma. Projects are led by “Black Belts,” middle managers who leave their roles to spend one to two ears exclusively implementing Six Sigma Projects.  They undergo long weeks of training, and typically receive bonuses based on the savings they generate for the organization. They are aided in their projects by a team of “Green Belts” chosen from different functional areas according to the project. Once Black Belts have successfully implemented several projects, they may become “Master Black Belts” who help choose and coach Six Sigma projects throughout the organization.

According to the Six Sigma Academy, Black Belts save companies approximately
$230,000 per project and can complete four to 6 projects per year. General Electric, one of the most successful companies implementing Six Sigma, has estimated benefits on the order of $10 billion during the first five years of implementation.

Six Sigma provides a systematic way of improving business processes based on
customer needs and factual analysis of company processes. Business Intelligence (BI) is technology devoted to accessing, analyzing and sharing business information. Real-life organizations like GE are combining these two technologies in the form of “six sigma intelligence,” a framework for using information technology to pick Six Sigma projects, get results more efficiently, and ensure their long-term success. Specifically, BI Systems from companies such as Business Objects help organization-wide implementations of Six Sigma.

“Six Sigma intelligence” is the combined use of Six Sigma and business intelligence to further the goals of the organization, by picking Six Sigma projects more effectively, achieving results faster, and ensuring their long-term success through exception reporting. The rest of this document outlines the specific benefits to organizations that use Six Sigma intelligence.

A commitment to quality and customer focus has been the linchpin of GE’s success, but several key technology projects have also helped. In 2002, GE is investing $300 million in quality training and systems that measure Six Sigma’s effectiveness by capturing metrics, including frequency and type of manufacturing defects, for an expected return of $400 million to $500 million in savings. GE’s Six Sigma quality program isn’t unique, but GE’s ability to successfully use information technology to measure its quality control progress and to tighten its ties with customers has been unparalleled. GE Chairman John F. Welch’s commitment to the quality program and his understanding of IT’s role in it have helped separate GE from the rest of the pack.

GE’s chief executive, Jeffrey Immelt, has continued the tradition. Immelt was introduced to BI systems when he ran GE’s medical instruments business, using them to monitor the cost, maintenance and performance of his X-ray, MRI and ultrasound machines. Soon after he was named to the top job in November 2000, Immelt decreed that everyone throughout GE use cockpits. And now, for example, GE Capital’s “electronic boardroom” allows executives to track asset and revenue results from their insurance and financing businesses and to scrutinize the profitability of specific customers.

In many Indian organizations, six sigma has been implemented quite effectively since last one decade or so. Successes from six sigma projects have been experienced in almost all sectors such as Manufacturing, services, finances and project management etc. At the same time, emergence of Business Intelligence (BI) particularly, in services sector has attracted attentions of decision makers in Indian industries. Although, the concept is new but many Indian companies such as AirTel, BPL, StanChart, CitiBank, ICICI, Reliance Infocom etc have tasted the success of BI and have experienced benefits out of it. Now, the time has come to follow GE’s success by integrating both of these concepts and deriving an extra benefit out of it.

 

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Dr Sudeep Mallick

I am going to briefly talk about three key technology enablers that businesses cannot ignore and that they must leverage to gain and retain competitive advantage.

They are namely, cloud computing, social media and data analytics.

Cloud computing is an outcome of evolution of information technology (IT) enabling use of hardware and software resources in pay-as-you-go mode requiring minimal upfront investments. Its usage is very similar to the usage of utilities such as electricity and water. We do not produce our own electricity but still use it. Generating our own electricity would be prohibitively expensive. Moreover the same engines, turbines and infrastructure needed to generate electricity can cater to multiple consumers. A consumer can “rent/subscribe” only so much resource as is needed. In cloud computing, businesses do not need to own the software or the hardware. This renting or subscription model enables a very efficient and cost effective mode of operation both from the supplier and user perspectives.

Hardware resources available in cloud computing mode are usually in terms of the two basic ingredients -storage and processing power. Software resources available in cloud computing mode can range from mail servers, business process automation software, generic enterprise software such as ERP, CRM, SCM, special purpose computing tools, etc. This has huge implications for SMEs which need to keep their costs in control and for large businesses who want to experiment with the latest software and hardware innovations.

The second key enabler is social media.

Social media is a gamut of technologies including web-logs (aka blogs), micro-blogging sites, generic social networking sites such as Facebook, Pinterest or user interest based social networking sites, massive open online course forums, e-commerce websites and any other platform which allow multiple users to exchange and view content. Due to rapid growth of the internet-savvy population, sophistication of mobile computing technology and emergence of multiple form-factor gadgets such as tablets, phablets, etc. ever growing segment of the target population is having ubiquitous access to the Internet – anytime, anywhere basis. So keeping engaged business’s customers on these social networking sites is a key to successful Word-Of-Mouth campaigns and viral marketing strategies. It is the new-age vehicle of communication with all business stakeholders – customers, employees, shareholders, etc. Businesses cannot ignore this powerful platform.

The third key enabler is data analytics.

It would be useful to know when the business is going to lose a customer (technically known as customer “churn”), which set of customers to target for a marketing campaign, which customers on the social network could be your brand ambassadors, which credit card transaction could be a fraudulent one and could be nipped in the bud. These are the kind of questions which data analytics can answer. With emergence and sophistication of the Internet technologies, mobile computing technologies, enterprise software and POS technologies more and more of data is being generated. Data is becoming available to businesses about their business operations, consumer behavior, market trends and the general business environment. Making sense of so much data has become increasingly important to generate key business insights which may lie hidden in the data. To make the data “speak” we need the sophistication of business data analytics.

So to summarize businesses and managers should develop a good understanding of cloud computing, social media and data analytics to stay competitive and relevant in today’s business environment.

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Prof Y R Lakshmi

Students choosing MBA often enter a dilemma phase during specialization as to what should be the area of their specialization. Sometime this dilemma has an extension. Even after choosing the specialization of finance, a few students prefer to take up additional courses supplementing their specialization.

Here is an attempt to throw light to some of the significant options. The regular courses that are advised to finance candidates are NSIM, NCFM and FLIP Certifications (These are short term and split into different modules like equity, debt, mutual funds, derivatives etc).

All the above courses focus on different segments of financial markets.

  1. NISM is being advised recently by corporates because it is issued by an Institute formed by SEBI. As there are many courses offered under this confusion arises regarding the choice. The list of major course are available at

http://www.nism.ac.in/index.php?option=com_content&view=article&id=72&Itemid=76

For courses in Sr no 1-13 in the above page, (except the one in 8) All courses have been made mandatory for those who intend to join these specific sections of industries. Mostly targeting stock exchanges, brokerage houses and banking sections which deal with these instruments.

If you want to be selective then the course on equity derivatives would be a good choice depending on whether the elective (Derivatives) is offered in your MBA/PGDM.

  1. NISM-Series-VIII: Equity Derivatives Certification Examination

For candidates interested in mutual fund industry please note that the earlier regulatory exam named AMFI Exam or AMFI Mutual Fund (Advisors) Exam has been discontinued from June 1, 2010. SEBI has replaced AMFI EXAM with NISM-Series-V-A: (5) Mutual Fund Distributors Certification Exam.

This NISM MFD Certification is a mandatory requirement for all people engaged in sales & distribution of Mutual funds. Bank Employees & Financial Advisors who sell mutual funds have to pass this NISM Mutual Fund Distributors Exam.

SEBI notification on the same: http://www.hdfcfund.com/CMT/UPLOAD/ARTICLEATTACHMENTS/Jun_24_2010_Certi_fication_Programme_mutual_fund_products.pdf

 

b.NISM-Series-V-A: Mutual Fund Distributors Certification Examination

The examination seeks to create a common minimum knowledge benchmark for all persons involved in selling and distributing mutual funds including:

Individual Mutual Fund Distributors; Employees of organizations engaged in sales and distribution of Mutual Funds; Employees of Asset Management Companies specially persons engaged in sales and distribution of Mutual Funds.

The certification aims to enhance the quality of sales, distribution and related support services in the mutual fund industry.

Assessment Structure:

The examination consists of 100 questions of 1 mark each and should be completed in 2 hours. The passing score for the examination is 50%. There shall be negative marking of 25% of the marks assigned to a question.

PS: Inspite of many other courses under this section, these two standout more in terms of relevance from placement perspective.

ALSO NOTE THESE HAVE A VALIDITY OF 3 YRS AND IF YOU TAKE THEM RIGHT NOW THEN AFTER 3 YRS YOU WILL HAVE TO SIT THROUGH ANOTHER ROUND OF THE SAME OR MODIFIED SYLLABUS.

  1. NCFM: These are certifications under NSE and have a lot of market reputation.

Relevant courses under this section would be beginners module Derivatives; Capital Market Dealers module; Derivatives dealers module; NSDL Depository operations module (targeting jobs in security depositories); and Technical analysis module.

Each course costs around Rs 1700 or so and its validity is 2yrs. So time your exams right. None of the exams are interdependent on each other. That is there is no level 1, 2 or 3 hierarchy to go in this.

  1. CFA: Certified Financial Analyst: US Certification: CFA is split into 3 levels – 1,2 and 3 and would take a minimum of 2 yrs to complete all levels. But candidates and faculty from reputed B schools say that clearing level 1 and appearing for 2 during your interview will make a mark for the investment banking jobs. There are some organizations who fund the expenses of taking up level 3 examinations when they absorb candidates.

Examinations happen during June and December for Level 1 and only in June for Level 2 and 3.

Why is it coming third in my list? It is a costly one (Ranges from 2400 to 3000 US $ and it requires dedicated hours assigned to the topics under their coverage. If you are not serious I’d advise not to waste money in $

  1. FRM: Financial Risk Manager: US Certification:

Both CFA and FRM in terms of importance should have come first instead of NISM or NCFM as their validity is on an International platform. Infact these certifications are the ones that make a difference for managerial level candidates. 

FRM examinations are conducted during May and November

Difference between FRM and CFA at http://www.youtube.com/watch?v=poVVtTb6v0c

http://www.edupristine.com/ca/courses/cfa/

However for a person looking for a Core finance job in investment banking or retail banks, the best certifications would be CFA (USA) and FRM (USA) respectively.

  1. Those students focused on PSU bank jobs may look out for IBPS examinations under different categories. Experts however are of the view that this mode of hiring may decline by around 2017.

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Dr Srabanti Mukherjee

 

BIMTECH Bhubaneswar is all set to mark its presence across the nation not only through academic excellence but also by developing socially responsible managers.  Having started our new campus in the Eastern region, BIMTECH Bhubaneswar is fully conscious of its responsibilities towards uplifting the socio-economic fabric of the region. As a part of our efforts, our students of Marketing department are devoted towards developing marketing skills for the not-so-recognized ethnic Art and crafts of Odisha. We have visited the prior –holy exhibition of the world-famous Sand Artist Padmashree Mr. Sudarshan Pattanaik to figure out the marketing issues pertaining to marketability of such temporal form of Art, precisely in the domestic front. We have also interacted with the Secretary and President of the Odisha Lalit Kala Academi , operating under the Department of Art and Culture, Govt of Odisha and also the visitors to understand various dimensions of marketability of sand-art. Based on the study, our marketing students submitted their short-term project reports as a part of their Consumer Behaviour Course.  Some of our marketing students visited Raghurajpur and Pipli to interact with the traditional artists of palm-leaves painting and “patachitra” to study the marketing barriers and suggest the possible ways to develop likings amongst the customers about such crafts. Our newly formed marketing club, “MARKODYSSEY” is also committed to continue with many such projects in near future and contribute in marketing the traditional art and crafts of Odisha in a moderate way.”

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Our Students Anil and Smrutiranjan in Raghurajpur

 

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Dr. B. K. Das

BIMTECH has opened its campus in Bhubaneswar on invitation from the Govt. of Odisha because of its high brand value in the field of Management education backed by Birla tradition of maintaining high morale value and ethics.It has also maintained the academic rigour and great emphasis on research.We have constructed the campus with a long term vision of becoming a world class educational hub.We are on our path to achieve our first mile stone with the State Govt clearing our proposal to establish Birla Global University,now awaiting the legislative clearance.Till we reach our goal we,at BIMTECH, have to keep remembering the great quotation of Robert Frost:
“The woods are lovely, dark, and deep,
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep”

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Dr. Prithvi Yadav

Three distinct aspects contribute to making BIMTECH one of the most preferred educational institutions of the country. First of all, BIMTECH borrows the established and esteemed brand of the Birla group with its culture grounded in Values and Ethics. Besides this, BIMTECH-Gr Noida celebrated its silver jubilee last year and in its 26th year opened the Bhubaneswar campus mainly to cater to the Eastern region of the country. During this period, BIMTECH G. Noida has built up its brand value and created a niche for itself amongst the top B-schools of India. Today, it is a name to be reckoned with amongst prospective students seeking management education and their parents. Secondly, owing to its association with one of India’s pioneering business establishments, the institute has deeply ingrained corporate culture coupled with the values of an academic environment into its system. Thirdly, the institute ensures that every student in the campus undergoes the academic rigor required to be successful in the professional world.

The institute has adopted best of the best academic practices and has drawn well-qualified and experienced faculty from premiere institutes & corporates like IITs & IIMs having rich experience of industry & academia both. In addition, faculty from Noida Campus & prominent local industry are invited for specialised topics & specialisations. International exchanges & scholarships with overseas universities have been to Bhubaneswar campus right from first year itself. BIMTECH, being fully residential campus, emphasises 60-70% out-of-class learnings through various activities.

Being a fully residential programme, life at the campus itself is a natural teacher. With students from eleven different states, staying on the campus, the first adjustment comes in the form of tolerance towards different cultures. While there is a lot of freedom in terms of self-study, activities and sports, managing time for all aspects of life in a well-balanced manner is a major component of their learning. In addition to this, students are also responsible and involved in managing all activities on the campus. Learning through these informal practices is an essential part of the operating DNA of BIMTECH, Bhubaneswar campus.

“Excellence with Values” is the motto of the Institute. So, in addition to the academic rigour, the institute also invests in inculcating Social Sensitivity and awareness amongst the students, to enable them to become ‘socially sensitive business leaders’ when they step out from the campus. Students are encouraged to contribute time and effort to CSR activities which involve visiting orphanages, adopting neighbouring villages, conducting awareness campaigns etc., thus creating a ‘pull-effect’ in the process of the growth of the underprivileged. Activities in these areas also involve the staff and faculty of the institute. This inculcates a sense of empathy, which results in collaborative activities amongst the community on the campus.

BIMTECH BBSR has commitment to provide the best of the best academic environment and aims to be one of the best B-school in Eastern region in next 5 years, thus, would be starting Doctoral Program in Management i.e. FPM with international universities from next year in order to create best of the best faculty resource, which is need of the time.

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