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Wishes its reader a Happy New Year!
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Editorial Board
Prof. Aryapriya Ganguly - Editor-in-Chief
Prof. Soumitra Mookherjee - Associate Editor
Prof. Navni Kothari - Associate Editor
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Letter from the Editor
Entrepreneurship is the result of a combination of knowledge, skills and a mind-set that accompany a process of value creation in fulfilling a market need.
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Ubering the Startup Crest
UBER's strategy and business model has been created on the backdrop of a strong vision, mission and corporate objectives.
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Careers in Management
Infographic on the array of career choices - academic and professional - available to an undergraduate student of Business and Management / Economics and Management.
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Alumni Spotlight
Alumni Spotlight on ISBF's Ritesh Agarwal (Founder, OYO rooms) who speaks on entrepreneurial learnings from the LSE curriculum.
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ISBF's Entrepreneurship Cell
ISBF's E-cell founder shares his mission statement.
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Life at ISBF
Updates from Life at ISBF.
Xenia 2017: Building a Sustainable Future.
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ISBF's Academic Dean Leads the Way
Dr. G. L. Tayal, Dean-ISBF, was conferred with the Dewang Mehta Award for "Outstanding Contribution to Education" at Silver Jubilee Edition of Business School Affaire and Dewang Mehta National Education Awards, 2017
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ISBF Student Wins Best Budding Manager
ISBF student Pankhuri won the award for the Best Budding Manager in India at the National Competition for Young India organised by AIMA.
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Quiz
A quiz on radical start up stories and new business ideas.
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Entrepreneurship is the result of a combination of knowledge, skills and a mind-set that accompany a process of value creation in fulfilling a market need. In that sense, colleges play a central role in nurturing entrepreneurship through knowledge creation (entrepreneurship and management research) and knowledge dissemination (entrepreneurship education and training), as well as hands-on support for young entrepreneurs (networking events, research projects, industry visits, mentoring, etc.). At the same time, colleges make an important contribution to promoting an entrepreneurial mind-set among students, scientists and employees. Colleges, thus, have a challenging dual role - as incubators of entrepreneurial awareness and competences, as well as role models for promoting and implementing an improved entrepreneurial culture.
In today's fragmented employment landscape, long-term success depends upon being able to anticipate change, adapt, and rapidly develop new skills - in other words, a renewed focus on entrepreneurial skills. This is where there's a critical bottleneck. Our education system is still geared towards training people to be great at one thing.
The traditional classroom-based educational techniques that have worked for decades are showing their age. As the employment landscape continues to evolve, the educational system will have to follow suit. How do you think our educational system needs to adapt to accommodate the changing needs of workers?
An idea to kick-start our students' solopreneurship is to devise new ways to teach old ideas. The idea of "learning by doing" - also known as experiential learning - has shown itself to be a valuable tool in any educational environment, but it has special applicability when it comes to self-employment, where new ideas can be tested in a mock or real business.
We believe an educational institution can play a central role in nurturing entrepreneurship by laying the foundation through entrepreneurship education & training; by promoting entrepreneurship culture & careers; by creating and supporting "born globals" and by facilitating access to finance.
Due to the business and finance-technology-orientation of the LSE curriculum and research, as well as ISBF's traditionally close ties with industrial partners, we can more intimately understand market needs, improve production processes and ultimately support the creation of scalable and sustainable business models. This unique combination of mind-set and structures that come together at ISBF, courtesy its cultural capital, provides a very fruitful ground for entrepreneurship promotion and education, and also serves to explain how the fledgling E-Cell at ISBF has already started to scale great heights.
Read on for more!
(Editor-in-Chief)
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Ubering the Startup Crest
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BBA Vs Business & Management AND Economics & Management: The BBA program is a general program and requires an overview and perspective of the critical business functions, but in the B.Sc courses in Economics and Management, Business and Management, students gain sufficient insight on the quantitative techniques and analytical abilities over and above acquiring knowledge on the essential business functions of an enterprise and tools for executing strategies.
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The lighter blue circles represent the range of career options after an MBA. The darker blue circles represent the range of career options after a PhD in Managerial sciences.
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Glossary for the Infographic
- The Business Development role is applicable for young graduates interested in a corporate career - primary emphasis on sales, marketing and client acquisition covering a diverse range of sectors.
- Relationship management - Typically MBA's in Marketing and or/ Finance or M.Sc Management with some knowledge on finance to work as relationship managers catering to the needs of key accounts and potential clients.
- Corporate Communications - MBA - Marketing, Media, and PGD in Advertising, Mass Communication and Public Relations - can work for any organization attempting to promote awareness, visibility, market appeal, and brand building.
- Market Research - Typically any student completing MBA or M.Sc Management in any stream - but has adequate knowledge of research methodology, aptitude, skills, and interest in research oriented work. Candidates to possess strong analytical, business communication and report drafting skills. For this MBA would be a better fit.
- CSR - MBA or M.Sc Management in any stream - with an inclination to work for an organization engaged in executing cause related activities and social projects. No great salaries - but tremendous work exposure in community work.
- Operations: MBA - Marketing and Operations - is a necessity as candidates will be involved in process realignment, work flow structuring, inventory management, coordination work and logistics.
- Management Consulting: MBA from a reputed university is a necessity- specialization is important as you could be a supply chain consultant, marketing consultant, financial consultant, or HR consultant.
- Own venture - MBA or Diploma in Entrepreneurship after completing the DGM program at ISBF - should have a keen interest in taking risks, strong leadership skills, and a visionary. M.Sc - Management by itself may not be sufficient to take this plunge.
- Business Analyst - Should be M.Sc Management or MBA - any stream - with strong data collection, analysis and interpretation skills and ability to source and disseminate information promptly.
- Live projects and internships are more relevant for students pursuing any MBA Program - in one year courses this is not feasible - anyway very important as students acquire hands on practical experience before stepping ahead in the corporate sector.
- Others - MBA or Diploma in Retail Management, Energy management, Telecom Management, Agri-business Management - especially for aspirants intending to establish a career in specific disciplines.
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Ritesh Agarwal CEO & Founder OYO Rooms at ISBF Orientation Ceremony
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OYO Rooms is the country's largest budget hotel chain which has about 50,000 rooms in 500 hotels all over India. Oyo doesn't own hotels; instead, it ties up with hotels and acquires some rooms to be given out to people. Oyo rooms have become a successful venture as it has managed to resolve the various issues of affordability, cleanliness, and availability of budget hotels across the country.
The founder, Ritesh Agarwal, is as interesting as his idea. Agarwal started coding when he was eight, and by the time he was 17, he had authored a best-selling book, The Encyclopaedia of Indian Engineering Colleges, and was the CEO of a company.
This is when he chose to study at ISBF and the concepts and learnings from his stint here- how to read a Balance sheet and how to interpret Macro and Micro-economics problems being two examples he often cites- are still being used by Mr. Agarwal to present ideas to OYO Board members and investors.
Starting off in one city with one hotel in Gurgaon in January 2013, the company, as of September 2017 has around 70,000 Rooms in 8,500 hotels across 230 towns of India. The budget hotel aggregator is raising $90 million in fresh funding led by Japanese internet conglomerate SoftBank that values it at $400 million.
We, at ISBF, take immense pride in our contribution to OYO's phenomenal journey, and sincerely wish our E-Cell churns out more stories and even more successful start-ups in the near future.
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ISBF's Entrepreneurship Cell
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ISBF's E-cell founder shares his mission statement
ISBF is playing a dynamic and pivotal role in fostering the spirit and culture of entrepreneurship with the vibrant and active entrepreneurship cell, or the E-Cell, as students fondly refer to it. The student body of the E-Cell has been constituted who are working in conjunction with faculty members with a view to develop the entrepreneurial mindset of the student community.
In our bid to provide high quality standards of teaching and learning and make innovative changes in the teaching pedagogy accompanied by enriching endeavors for enhancing industry connect, industry associations and empowering young graduates to advance their career progression - ISBF remains committed to support, guide, advice and encourage students to plan their own start up ventures. As an institution we strongly perceive that entrepreneurship is one of the viable options for students enrolled under ISBF's programs - and the success of some of the recent start up ventures has prompted us to act as change agents and provided dedicated support to the student community interested in furthering their own family ventures or start their own respective commercial ventures. ISBF is exploring all possible options and creating a network of alliances with the government of India and other reputed agencies engaged in delivering entrepreneurship oriented activities.
To begin with - active members of the e-cell and the faculty members have invited distinguished founders of start upsto discuss with students about the challenges, rigor of pursuing your own goals as against being an employee in an organization.
ISBF proposes to organize the following activities to make the e-cell vibrant, active and pulsating and assist in converting the ideas, dreams of students into realities.
- Inviting distinguished entrepreneurs to share their knowledge, wisdom and ideas with the students, and if possible associate interested students with prospective firms to pursue internship projects.
- Organize a symposium where founders of start up ventures can talk about their respective business model, the challenges they faced and phases of success/failure in their ventures
- Providing students a window of opportunity to present their business ideas after conducting exhaustive market research, and share their thoughts, ideas with industry mentors and faculties
- Making students seek mentoring advice from industry professionals who have enormous reservoirs of background, knowledge and experience.
- Conducting sessions where students can participate in presenting their own business plans and through events could invite venture capitalists to evaluate the prospects, viability and feasibility of their projects and agree to provide financial support.
Through this plethora of activities the ISBF student and faculty community remain dedicated towards making concerted efforts in making the e-cell dynamic and result oriented. The ultimate objective is "TAKING IT TO MARKET" which implies that no matter what the end result is - a few group of students should end up setting up their own commercial venture under an eco system , network of institutions created for driving their proposed ventures into new heights of excellence.
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Dr. G. L. Tayal, Dean-ISBF, was conferred with the Dewang Mehta Award for "Outstanding Contribution to Education" at Silver Jubilee Edition of Business School Affaire and Dewang Mehta National Education Awards, 2017. His guidance and insight inspires us all, and we couldn't be more proud.
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We are beaming with pride- Pankhuri Bhasin and Samreen Tasleem Khan, students of the Diploma for Graduates in Management at ISBF, were awarded the second position for an excellent vision of a developed India at the 14th National Competition for Young India organised by All India Management Association. To add to their glory, Pankhuri won the award for the Best Budding Manager in India.
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ISBF students visited the Yakut factory with Professor Soumitra Mookerjee and Ms. Meenu Bhasin, Head, CSD. Students gained exposure to a manufacturing unit, and were also exposed to various business functions. The visit ended with an opportunity to meet with experienced professionals driving the Yakut operation.
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Professor Aryapriya Ganguly participated as a speaker in the Round Table Discussion on ‘The Crisis of Liberalism in India' along with other leading academics of the country. The discussion was a Centre for Civil Society initiative, and was buzzing with vision and intellect.
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ISBF saw Mr. Will Breare- Hall, Student Recruitment and Study Abroad Manager, LSE. Mr. Breare- Hall began by addressing first year undergraduate students. He spoke about the University of London degree awarded to ISBF students, the possibility of a second year transfer to LSE and a Master at LSE. The session was followed by one with other students- from ISBF, and from other schools and college in the country, wherein Mr. Breare- Hall spoke extensive about how to get into a Master's programme at LSE. He also shed some light on what one can expect as a post graduate student at LSE.
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Members of the Career Services Division along with selected students from the ISBF student body attended a thought leadership lecture in Globalisation and its challenges to trade by Dr. Mukhisa Kituyi, Secretary General, UNCTAD at FICCI House on October 26, 2017.
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ISBF hosted the University of London Open House on October 31, 2017. Delegates from University of London visited ISBF to talk about the International programmes at length, and explained the ISBF- UoL association in great detail.
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Xenia 2017: For Building a Sustainable Future
The lights went on, and the stage sparkled- this November saw a truly exhilarating Xenia. The two day event was designed around ideas for a sustainable future, and was the perfect blend of fun, learning and serious thought.
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1) Catherine Hettinger should be enjoying the high life. But the Florida-based creator is not making a penny off her genius invention, even as global sales of her creation from two decades ago soar into the tens of millions and suppliers struggle to meet the massive demand. Hettinger held the patent on this item for eight years, but surrendered it in 2005 because she could not afford the $400 patent renewal fee.
What did she have the patent for, conceived as a means to entertain her seven-year-old daughter?
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2) This is a new App called "FIVE", meant to be used by a specific demographic.
What's the purpose of this App/ what's this specific demographic?
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3) What pair does this Bengaluru based startup (that has received funding from Premji Invest)'s name expand to?
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4) Caroline Murray (nee) was the daughter of Sir Kenneth, the former chairman of the Royal Bank of Scotland. Her husband became managing director of De La Rue Instruments, which was involved in the printing of more than 140 currencies, as well as stock certificates in the 1960s.
What change or if you like, step down, did her husband make to his original intended invention in 1965, allegedly because his wife, Caroline, had retention issues?
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5) This brand's new logo signifies the 'window to learning' that it opens up for students across grades and geographies.
The concept of 'window to Learning' has been represented by a letter that is angled to bring in the element of playfulness on an 'Auber' (the official name of the colour) tile, which has now become synonymous with the brand.
Which brand?
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6) On October 5 1990, Grant Mason posted a message on the Usenet newsgroup rec.arts.movies with the subject "Is there a program?" 3 days later, Colin "Col" Needham replied with a longish post that was somewhat helpful but didn't really answer Mason's question. It did however, inspire Needham to convert a hobby into a venture that he still heads today.
What did Col Needham start, which prompted The Guardian to call him "The Most Powerful Brit in Hollywood"?
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7) NASA is launching a challenge to crowdsource ideas from an artistic style for a foldable radiation shield to protect spacecraft and astronauts on voyages to deep space, such as missions to Mars.
Robert J. Lang - an artist with mathematical expertise on this art form and a former Nasa physicist - said that he was not surprised that Nasa was looking to the art for inspiration. "It is a natural fit to many problems involving deployability in space, and Nasa has worked with such artists - myself and others - over the years," he said.
What art form, that promises to provide a solution to NASA's foldable radiation shield?
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8) Like Gaudi's modernist architecture or the stunning view to the Mediterranean, the hundreds of unlicensed sellers flogging a range of pirated luxury goods on street corners are a sight visitors to Barcelona cannot fail to notice.
Known as "top manta", after the object they lay their fake designer wares on, most of the sellers are African men who made the perilous journey across the Mediterranean, and scratch a living illegally by selling knock-off handbags, clothes and sunglasses to well-heeled tourists.
Recently, however, the manteros announced they had created their own fashion label called Top Manta in an attempt to leave the forgeries behind and remove the stigma they have suffered.
So, appropriately, what is the logo of Top Manta?
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9) This Canadian startup has developed capabilities, which it says can be used to turn text into on-the-spot audiobooks "read" by famous voices or for characters in video games.
Software developed at Stanford University, being used for this, is able to manipulate video footage of public figures, typically politicians, to allow a second person to put words in their mouth - in real time.
On its own, it is a fun plaything for creating memes and entertaining late night talk show hosts. However, with the addition of a synthesized voice, it becomes more convincing - not only does the digital puppet look like the politician, but it can also sound like the politician.
Appropriately, what is the start-up called, borrowing its concept and name from the natural world?
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Answers to the questions in the next edition of The Inquirer
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