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MBA – A sought after Program
In the last decade, MBA was the most sought after Post Graduate degree for it offered bright career prospects. True to its nature, It is still very much a sought after Post Graduate Education. As an INFLUENCING programme, MBA attracts not only those who are interested in business but also those who want to master tools of Management.
Mr. Ramu was a very successful professional working in Bangalore. His work was hectic, so he wanted to take a break for 2 weeks. He decided to travel to Kerala for a retreat. He knows that he can find best quality stay in AirBNB and can book the convenient location easily. He logged into the application and finds an irresistible offer - Coconut Grove in Kochi, an ideal guesthouse for his family of 3 people, located amidst the nature. He finishes the booking in 5 minutes including skimming through the 120 reviews which gives overall 5 star rating for the location (Reference link: https://www.airbnb.co.in/rooms/4824719 ).
The field of statistics has numerous applications in business. Because of technological advancements, large amounts of data are generated by business these days. These data are now being used to make decisions. These better decisions we make help us improve the running of a department, a company , or the entire economy.
As per Philip Kotler and Gary Armstrong marketing “ identifies customer needs and wants , determine which target markets the organisations can serve best, and designs appropriate products, services and programmes to serve these markets”
Logistics is the back bone of Indian industry, especially for manufacturing and e-commerce industry. Logistics includes movement and storage of goods, flow of information and value added services etc. The main functions of logistics involve transportation, warehousing, inventory management, order processing, packaging, outsourcing, and material handling. Indian logistics industry can be divided into four segments: Transportation – 60% (Road – 36%, Rail – 19%, Water – 5% and Air – 1%), Warehousing – 25%, Freight forwarding – 10%, and Value added logistics – 5%.
Banking sector in India played an important role in economic growth and development. There was a big transformation in this sector after Government of India demonetized Rs 500 and Rs1000 currency notes in November, 2016 with the motive of bringing down black money, corruption and promoting cashless economy. It is reported that Rs15.4 lakh Crore constituting 86.9 per cent of the value of total currency notes in circulation were demonetised. The customers deposited and/or exchanged their banned currency notes, which in turn increased the cash deposits in banks. Further, usage of formal banking system, cash less transactions and digitalisation increased.
Business Intelligence (BI) is the process of collecting information from the different sources and preparing Business Reports, dashboards, scorecards, ad hoc query and automated alerts. It is the first step for the companies to make data driven decisions. Business Analytics (BA) starts with the analysis of the BI report through statistical analysis & data mining, extends to predictive model building with historical data and further validates it with model testing.
A financial analyst advises their clients when to buy and sell investments. Financial Analyst provides guidance to small, medium and large businesses, individuals to make investment decisions. They analyze and understand the financial condition of the firm through internal analysis and external information of the company. Financial Statement Analysis, Equity Valuation and Financial Modeling are the major areas covered under this.
Financial Analysts evaluate investment opportunities and help the investor to take decisions like where they can invest? How much can they invest? And How to manage risks and return. Financial Analysts evaluate individuals’ investment pattern, possibility of investment, Buy and Sell decisions and presents insightful inputs to the investor.
Multivariate analysis (MVA) is based on the statistical principle of multivariate statistics, which involves observation and analysis of more than one statistical outcome variable at a time1. In design and analysis, the technique is used to perform trade studies across multiple dimensions while taking into account the effects of all variables on the responses of interest.
Data Visualization is an important component and a perfect procedure for the accomplishment of an organization’s success in today’s uncertain market. Visualizing data using the right methods can provide insights which the decision makers can incorporate in their decision-making pipeline in order to make informed decisions which are driven by data.
In India, the employability index showed a minor improvement from last year, rising to 38.12% from 37.22%. Specifically look about Finance roles in India increasing more in various sectors. Secondary Sector in India wants more efficient finance person to manage the money of their enterprise. Finance is an area consists of Economics, Management, Consulting, Advising, Mathematics etc. The need for a person with Finance skill is increasing tremendous in various Indian industries. But the same time, there will be scarcity in skilled finance professionals. The scarcity numbers also increasing year by year because of less practical knowledge among the professionals.
In the era of digitalization, India has the third largest number of technology driven start-ups in the world and it moves ahead in doing business with competitive advantage. In particular to banking and financial services sector, technology enables the whole act of money transaction better, stronger and faster. It aims to compete with traditional financial methods in the delivery of financial services. Use of smart phones for mobile banking, payments, e-wallet services, investment services are some of the examples of technology transformation in the form of accessibility, adaptability and flexibility. With this move, rise of Fintech startups grow rapidly in the financial services sector, disrupting the traditional operations but reconstituting the competitive landscape in the financial industry. Ahead of this change, adoption of SMAC (Social, Mobile, Analytical and Cloud computing) technology collaboratively boosts the financial markets, banking and institutions.
Most companies are looking for people with expertise in MS Excel. MS Excel is the best tool in finance but also used in marketing, sales, human resources, production, operations etc. It won’t be exaggeration to say that in reality MS Excel is a life-partner for a management professional. There are students who complete their MBA without proper understanding of MS Excel, but they have to learn it sooner than later since it is integral part of a managers’ daily life.
In the present scenario financial planning is a disciplined process and customized approach, which enables wealth for clients by way perfect advising. Financial Planning stay focused with client’s wealth maximization without sacrificing liquidity. Further these professionals use their expertise and prudential skills for enhancing the client’s profitability through attractive higher return. Effective financial planning is required by the clients due you to the paucity of most valuable financial resources available for investment. In simple terms, financial planning takes the dreams and life goals of individuals and these goals are divided into measurable financial goals and it can be achieved with systematic way of taking rational financial decisions.
Corporate finance is used to describe activities, decisions and techniques that deal with many aspects of a company’s finances and capital. Every decision made in a business has financial implications, and any decision that involves the use of money is a corporate financial decision. Defined broadly, everything that a business does fits under the rubric of corporate finance. All businesses have to invest their resources wisely, find the right kind and mix of financing to fund these investments, and return cash to the owners if there are not enough good investments.
In 1960 Harvard Professor Theodore Levitt in Harvard Business Review article introduced the classic concept of “marketing myopia” to describe businesses’ narrow vision on product features rather than consumer benefits , which means the companies grow on product oriented not customer oriented (Levitt, 1960). Marketing Myopia suggests that businesses will do better in the end if they concentrate on meeting customers’ needs rather than on selling products.
"Showrooming is when a shopper visits a store to check out a product but then purchases the product online from home. This occurs because, while many people still prefer seeing and touching the merchandise they buy, many items are available at lower prices through online vendors. As such, local stores essentially become showrooms for online shoppers."
Digital Marketing has become one of the most talked about topic in marketing over the past decade. Increase in smartphone adaption and exponentially increasing data speed has ensured that more than half of world population1 is connected with each other through Internet. This has opened up new marketing possibilities – market to the customers via interconnected devices.
Digital marketing is nothing but telling one’s brand/product story over the interconnected devices i.e, marketing over Internet. Interconnectedness is achieved through Internet connectivity and devices are anything that lets an individual connect with another individual like smartphones, laptops, tablets, smart watches, etc.
In the current competitive world, recruitment aspect of HR process is facing difficulty in finding a person or an employee with apt skills for the organization. Because of the changing nature of organizations, HRM has becomes critical for the organizations survival. There is more demand for multi skilled people and it’s also very difficult to develop multi skilled employee inside the organization. The role of HR is to find the gap between employees and employer in the organization. Notably HRs use competency as the crucial tool to find the skill gap.
In this digitized and technology driven world, there is no doubt that the globally outsourced job market is very highly disrupted. Searching for a job is becoming very challenging and furthermore becomes difficult when we are not addressing it in a professional manner. So what did we miss?
Well, we can create our own personalized method to monitor our skill progression but inorder to fulfill the job requirement, we should not have any Lacuna. Lacuna what? Simply put its a skill gap and must be filled.
The use of technology in the past few years has grown considerably and advancement of technology is going to be a great challenge for the current generation professionals. The ultimate aim for every organization is to achieve organizational goal by using less resources and utilizing the available resources in an effective way.
There is always a gap between our education system and the expectations of the employers and this is a hot topic around the world today. Each year, 15 million youngsters are entering the work force and more than 75% in that work force are not job ready. India will need 700 million skilled workers by 2022 to meet the increasing job demand.
Who is a Techno Manager ?
“A professional who uses technology-enabled processes to understand business problems & provide data-based scientific business solutions” In today’s hypercompetitive market, traditional business tools and analyses have become outdayed and unsuitable to deal with current business challenges
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