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Prof Brijesh Sharma

As time goes on, it seems that there’s very little left in the world that is purely “analog” anymore. The business world is digital nowadays, and there are many benefits attached to that reality. It is abundantly clear, the future will be machine driven, and central to this future are the super advanced algorithms, which are fueled by the data they are trained on. Every ad you see, every car driving itself, every medical diagnosis provided by a machine will be based on your data and lots of it. Most would argue that companies without these technologies will fail.  

The caveat is that there are inherent risks that come along with the digitization of society, and cybercriminals know it. Now that the IoT has grown and the world is becoming increasingly wireless, we’ve finally reached the point where even small businesses and private citizens are falling victim to data breaches and cyberattacks.

The problem is that as sophisticated as technology and IT security get, malicious actors, are always one step ahead. Organizations are struggling to keep up and adapt to such a harsh digital landscape, while simultaneously recognizing that there’s no doing business outside of the said landscape. This presents a catch-22 that becomes more visible within IT security every day.

Fortunately, the same advanced analytics and machine learning are presenting new opportunities in security fields. These much-needed innovations are bringing a modicum of certainty back to a nebulous arena and proving to be effective instruments. 

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Prof Brijesh Sharma

Life games are all about skill and never say die attitude.  There are two dimensions to skill. One is depth and another is width. Having depth is like being a specialist and the width makes one a generalist. The two extremes of the skill continuum are specialist and generalist. To manage a business one needs to have a fine balance of depth and width. In managing a business many a times one has to sacrifice depth for width. The width in you will manage the depth in others. The basic science commerce and engineering degree gives us a reasonable depth. This depth helps one to get an operational level job in the market. To rise up to senior level assignments one needs width. Width is given in B School.

Contrarians argue that there are examples galore that 50% of the C suite executives are not MBA. This is a truism, however a point worth considering is, while they may not have a formal degree but they have the skill. These Non MBA C suite occupants have learnt from the schools of hard knocks. The core is getting the deep skills. 

Learning by doing/failing is the best method of learning. The learning is internalized. Having said that, given the width of skills required for managing a business, this method of learning by doing/failing will theoretically take a lot of time and resource, perhaps a life time and also does not have the interoperability amongst various industry. As against this a simulated learning in a top grade B school will help in achieving 60% of the skill in 20% of time and will provide the migratory power to move from one industry to another. This time crunching and interoperability is the essence of a structured MBA program.

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Dr. Debjani Banerjee

Business and related subjects are among the most popular fields of study at universities worldwide, particularly as a professional course to make one’s career. You might have some vague ideas about why this is the case – business graduates are in high demand worldwide, business touches on pretty much every aspect of modern human society, careers with a business degree are diverse and often highly paid – and these assumptions are likely to be largely true.

Since ages there had been specialisation in Marketing, Finance, Operations, Human Resource, International business etc. But the new buzz of “ Business Analytics”is created with the world becoming one global business platform, taking business decision based on huge data base. Larger the data, higher is the precision of business prediction.

“Not everything that can be counted counts, and not everything that counts can be counted,” explains the purpose of business analytics perfectly.  Today the world is becoming a huge data house and We are living in an age of bigger and bigger data—and businesses need ways to sift through it all, to figure out which combinations of data count—and which ones don’t.  The success of business in today’s global economy depends on it. 

Just how big is big data?  Really big, and getting bigger all the time.  The EMC Digital Universe Study predicts that by the year 2020, 1.7 megabytes of new data will be created every second for every human on the planet.  What does that mean?  There will be 44 trillion gigabytes (44 zettabytes) of data in the digital universe.  Where does the data come from?  Just about everywhere—1.2 trillion searches per year on Google alone, over 1 billion people using Facebook every day, trillions of photos taken, and billions shared.  By 2020, there will be over 6.1 billion smartphone users, and at least 1/3 of all data will be transmitted through the cloud. We haven’t even talked about online banking, business, movies, television, music, and games. McKinsey Global Institute (2013) stated long back that “Big data promises big things—but only if organizations have the right people in place who know what to do with it. A recurring theme among senior leadership across all sectors is a shortage of professionals trained and experienced at the intersection of disciplines necessary to capture, analyse, and generate meaningful business insights from big data. In addition to deep analytics talent, organisations  need management with the right balance of business judgment and statistical skills to translate analysis into action.”

There has been an ever increasing need for effective and efficient business analytics. The business leaders need to know how they want to use analytics to retrieve its benefit—thus use that data to inform their decisions across the board. The business houses need to identify the source of gleaning that data information that they need to gain advantage in market. So what’s the final piece?  Business Analytics shall facilitate  to distill that information into actionable insights. Once businesses have  the idea of organising and analysing the desired captured data they are in a position to develop plans to stay competitive.

This new buzz word of “Business Analytics” and its significance been well understood at “VESIM”. The farsighted visionary leaders of this Institute decided to create this opportunity to the new age business leaders. Thus associating itself with “SAS” it has created a world class course in Business Analytics. The interface of analytics has been imbibed in every area of functional specialisation, so as to give edge to the new generation create competitive advantage in their world of work.

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Dr. Ajay Kumar Gupta

The future of the effective organizations is determined by the collaborative understanding of organization goals and linking with integrative competence. It is the nurturing relations among all stakeholders. To make an organization effective, it is important to ask where you want to go before start the journey. 

Culture influences the minds of the people. And it has long lasting impact on the feeling and attitudes of the people. That is why people behave in the style of their organizations even after they have left the organization. Effective culture helps organizations to achieve its goal. However, ineffective culture consumes resources and strategy. It creates unhealthy working environment. Therefore, creating effective organizational culture is a deliberate attempt of people and leadership. It is the collective effort of stakeholders.

To make effective organizational culture we need to raise five fundamental questions.

  1. What do people think about organizations and its journey towards perfect culture?
  2. What do people believe about their competence to make effective culture?
  3. What do people expect to reach the effective organization?
  4. What do you believe about the picture of effective culture? 
  5. What hiders you to become effective culture?

Culture is not the chart, but it is the journey of people.

Effective culture has authentic leadership. It supports and encourages the creativity and innovations. It works as a catalyst where employees develop high confidence. There is proper flow of information across hierarchy. Effective organizations have catalyst leaders who do not believe in holding power. They also do not believe in showing their authorities.

Questions

What suggestions you can add to make effective organizations?

What behavior and attitude support to make effective organizations?

 

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Dr. Charu Bhaga

I was taking a management development program for an analytical firm on risk management in banks which was attended by employees carrying a few years experience, their new employees and to-be employees (to be selected post training). The trainees came from different educational background – few had commerce background and other engineers; few completed MBA and few had only bachelors degree (B.E.). 

During these six days  training of such a mixed crowd, interacting with few of them in detail, understanding what they do and what they want to pursue, created various apprehensions in my mind. Mainly my mind was revolving around one employee of this firm having few months of industry experience. He attended only one day of training. On asking the other employees of the firm as to why is he not attending the training I got an answer saying, “he wants to focus on machine learning and doesn’t wish to understand the framework for which he would be making a new process or a software.” He told one of his colleague that whatever process would be explained to me by a banker I can understand from him and work accordingly and therefore, I don’t require such background training on what the regulations in risk are and what they would be.” Listening to this I thought an engineer would be an engineer and continued imparting the training.

Once the training got finished and I was completing some related documents, my mind struck me of the same person. I thought he must do his MBA as he lacks in bigger picture of life. I do understand that he is quite focussed which is really good but at the same time MBA makes you realise that out of whatever you are studying here you may use only 10-20 per cent of knowledge in your immediate job. But as you move up in your career ladder, the remaining 80-90 per cent gets applied in some way or the other. MBA makes you think out of the box. Obviously, there will be some exceptions. Moreover, it grooms you, polishes your communication and presentation skills. I believe it helps a person to stand from nowhere to somewhere, such that people in his organsation can see his polished skill-set.

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