Financial Crimes and Fintech in India
ISM Patna
"To carry a positive action, we must develop a vision.”
We all try to wonder about the future. Rather than wondering about the future, we may build or shape it. Limiting ourselves restricts us from reaching our true potential, but we do so because we don’t want to be disappointed. Most fail to clearly understand “How our life will look 10 years from now.” We should be able to look beyond our current reality and must be able to paint a rosy picture. That’s the power of vision.
A clear vision, supported by courage, purposely increases the chances of success. When we know what to achieve and where to go, all our efforts are directional, focused and purposeful. A clear vision, the spent time and effort will help us to reach the destination. Our vision gives meaning to our effort. It is a realization of what we are meant for.
We all are busy enough with day-to-day activities. If what we do daily doesn’t help us achieve what we want, then what is the purpose of all those efforts?
If we have a vision, our goal becomes primary, enabling us to perceive everything differently. Our goal will motivate us, and persistent effort will come from the inner force. The ordinary effort transforms into an extraordinary effort.
For as long as I can remember, I have seen people with visions of doing and achieving great things. It takes all of our fortitudes, makes all the difference in life and provides us with a platform for growth and success.
Of course, nothing of value ever comes easily. We must believe wholeheartedly in our capabilities and be specific about what to achieve, how to achieve and how much time span. The persistent effort towards the same because, “It all starts with the dare to do.”
If we have no vision, how may we know how far we can go….True potential…
We all are running but Running with a purpose and clear understanding that where to reach makes you a winner, or if you are not winning, you may compare the actual and desired result. Let you start and see where it gets you!!! This will be a lesson for others.
Author: Ms. Pooja Dubey
ISM Patna
Recently Axis Mutual Fund conducted a study to analyze investors’ behavior and the returns they made between 2003 and 2022. The scandalous behavior called “action bias” showed up loud and clear. The result they analyzed showed that investors typically underperformed in the market. The result showed that the return on equity fund was 19.1% yearly, but investors made 5% lower returns yearly, that is 13.8%. This happened because investors constantly switched between mutual funds that ate away their returns.
Let’s first understand what switching means. Switching refers to the process of transferring or changing investments. Investors may decide to move investment money between different funds, transfer their brokerage account to a different broker, or sell their securities in exchange for different securities. When switching, investors look for the next big trend or breakout based on past performance and pour their money into it. But more often than not, the cycle turns, and the fund underperforms. Investors now think they made the wrong decision, so they start looking for other mutual funds that are doing well and then quickly switch to that mutual fund to ride the wave. Investors keep doing this repeatedly, and in the end, they notice that continuous switching has eaten up their returns.
This happens because all of us (investors) believe we know exactly how the market will behave. We all always try to perfectly time the market. But that is not always the case. Investors need to remember the efficient market hypothesis, which says current market prices are the boss and no one can beat the market. Ask yourself, “How many of you sold the fund at the high and bought the dip?” Probably no one. Because investors also tend to forget the Random Walk Theory concept, which repeatedly reminds us that stock prices walk randomly, which means no one can time the market.
Action bias is the tendency to take action on your investment (switching) even when sitting quietly and doing nothing is better. Imagine an investor who did not switch between different funds knowingly or unknowingly. The best part is that they did not lose on the returns during switching. Therefore doing nothing is a choice as well. Sadly, we are not immune to the action bias because we want to get rich before our peers!
Happy investing.
Author: Mr. Abhishek Pandey
ISM Patna
A balanced life needs a balance financial approach toward savings and investment plans. A big dream and even a small dream demand the proper allocation of savings into appropriate investment options.
We need to identify our needs, and accordingly, the duration of the investment, installment or premium amount should be determined. In need of experience regarding investment strategy, there are Asset Management Companies (AMCs) that manage the investment portfolio. These AMCs help in getting a better return on the investment. Financial awareness is needed in everyone’s life to make them financially stable. It will help to have a balanced life with balance investments. The requirements of life and expectations from the journey of life can be better fulfilled by having financial stability and financial potential in hand.
Proper financial analysis of the different investment avenues can help find the best-suited investment alternatives for fulfilling our different needs. Starting the investment at an early stage helps minimize financial problems and assure financial stability in the future.
Lastly, a stable life with a strong desire to achieve the destination of life can be better achieved with financial stability.
Author: Mr. Rahul Kumar Sinha
ISM Patna
Whenever this question is asked to people or professionals- "How to improve the quality of human capital," they say that training is the need for the hour, but when asked what kind of training is required, then they have mixed responses and an ambiguity in their observation is witnessed. Let's fetch a better understanding of it with a Step-by-Step approach.
The degree to which human resource management (HRM) practices, systems, policies and activities align with environmental management is a growing area of research. For example, according to Jabbour (2013a, pp. 147– 148), Green HRM concerns the 'systemic, planned alignment of typical human resource management practices with the organization's environmental goals. This requires the alignment between HR and other functional areas of the organization. Recent studies have suggested that, due to the emerging business case for green environmental management (Ambec & Lanoie, 2008), the positioning of the 'greening' function plays a key role in improving the environmental performance of organizations.
The objective of Training: Training improvise or spread awareness, enhance Individual skill in one or more areas of expertise, and improve motivation for good performance on the job by making it a continuous process, not a one-time input.
Mentorship: Training is helpful, but "Mentorship" is improving. It is a vital supplement for the employees for their enhanced performance. As per my observation, we are more exposed to technical horizon gadgets and machines, gradually reducing emotional intelligence as a skill. Mentorship act like the "Guidance Cell" of an organization. I believe the Training word should be replaced with "Mentorship." If we differentiate, both don't have much difference but have a huge impact and change. Mentorship: is the art of maintaining a protected relationship and handholding an individual or group by an experienced person in an organization or educational institution. For the success of mentorship, the following steps should be followed.
Planning – Expectations of the organization and departmental heads should give a mentor clear direction. It should be inculcated in the annual calendar, having at least two interactions in a month and an assessment of the areas they are mentored in. Performance in Mentorship sessions should hold weightage in their annual appraisal, making them serious about learning and pulling their attention to get involved.
Record Making: Data hold the maximum importance. Annual records of the training act as one of the parameters for appraisal. There should be record-keeping for every session, and assessment scores to be given to individuals and shared with them monthly, which creates alarm and acts as a mirror for their performance and development.
Handholding/Implementation - The mentor should avoid being more verbose than letting their trainee/audience speak more and involve them with questions related to their day-to-day life, which they can connect. Content should be simple and accessible, and they should be able to connect to it. Explanation to be very grounded and specific anecdotes would do wonders with explanations. When we mentor in our training sessions, sometimes it triggers those episodes in which they seek to discuss and get solutions. The mentor should be approachable and ready to offer his/her personalized support. One-to-one interactive talk with employees.
Outcome – It generates a learning attitude and discipline once again in them. One-to-one sessions let them speak their heart out, which defines their mental well-being, stability, longevity, and many more. When unconditional support is given off the track, they generate a sense of belonging to the organization.
Author: Md Gauhar Hasnain
International School of Management
Management is all about decision-making, and decision-making is a science that is purely mathematical in nature. We all can understand how Complicated management Decisions & problems are, which have lots of Constraints that can be regarding time, resources and many more; the task of managers is to optimize the outcome because only then can we utilize the resource in the available time, and it helps the managers in decision making. They can use mathematical models to investigate the situation, which will help the managers understand the nature of the management problem and provide a solution.
Different branches of mathematics help analyze different situations, and according to the demand, different mathematical techniques are used. Like Statistical technique is used for data analysis, the probability for future prediction, Estimation technique for estimating the future results, forecasting technique for trend forecasting, and differentiation for maximization & minimization problems related to cost & profit.
Author: Bhavna Kumari
ISM Patna
India has a large youth population, over half of its population under 25. Communication with youth in India is crucial for the success of various initiatives, including social, economic, and political programs. One of the biggest challenges in communicating with youth in India is the diversity of languages spoken nationwide. India has 22 official languages and many more dialects. Therefore, it is important to have a multilingual approach to communication. Using regional languages and dialects, as well as English, can help to reach a wider audience and ensure that communication is accessible to all. Another challenge is the digital divide that exists in the country, with many young people lacking access to the internet or smartphones. This can limit the effectiveness of online communication methods such as social media. Therefore, it is important to use a mix of online and offline communication methods to reach a wider audience.
Young people are more likely to listen to and engage with their peers. In addition, cultural sensitivity is essential when communicating with youth in India. Different regions of the country have different cultural and social norms, and it is important to understand and respect these differences. Using culturally appropriate messaging and symbols can help to build trust and engagement with young people. Peer education programs can also be an effective way to communicate with youth in India. Peer education programs can build leadership skills among young people and empower them to take action on issues that matter to them.
In conclusion, effective communication with youth in India requires a multilingual, culturally sensitive, and inclusive approach. A combination of online and offline communication methods and the use of peer education programs can effectively engage with young people and promote positive change in the country.
Author: Ms. Sushmita Soni
ISM Patna
In the commonwealth countries like India, English has been widely used as a Second Language in a diverse native linguistic landscape, and it has been one of the essential tools for inter-generational socio-economic mobility of multilingual people. To enhance the communicative competence of the English language, several methods have been experimented with and practiced for the learners, generation after generation, to cater to their needs and upgrade their employability skills in the global and indigenous markets. The credit for flawless and fluent communicative competence in spoken English has gone not only to various methods but also to the motivational levels of the learners.
Motivation significantly enhances L2 (Second Language) communicative competence, especially in English as an alien language for learners. Here communicative competence refers to the ability to use language effectively and aptly in different social and cultural contexts. It encompasses a range of skills, including the ability to comprehend and produce language, understand and use nonverbal cues, and adapt language to different social situations. It involves knowledge of grammar and vocabulary used in real-life situations pragmatically. The learners' motivation can be measured in increased effort, greater willingness to communicate, positive attitude, and inclination towards using practical language learning strategies.
Learners motivated to learn the language are enthusiastic about participating in formal or informal communicative situations like speech, extempore, presentations, group discussions, plays, interviews, etc. They are more likely to put their efforts into improving their skills, take risks and communicate with others, even if they are not yet confident in their language abilities, and have a positive attitude towards language learning at any stage. They seek opportunities to use the language and persist in learning and improving. This active engagement and effort can lead to better communicative competence as learners practice and refine their language skills. On the other hand, learners who lack motivation may be less inclined to participate in communicative activities, avoid opportunities to use the language, and not put in as much effort to learn and improve. Consequently, the success rate of enhancing the L2 communicative competence of motivated learners was observed to be very high; otherwise, it looks like daydreaming for the comparatively less motivated ones.
Author: Dr. D. N. Singh,
ISM Patna
“Only with the heart can one see rightly; what is essential is invisible to the eye.”
This classic French children’s literature was written and illustrated by Antoine de Saint Exupéry in 1943. The author was a novelist, journalist and aviator.
He wrote the story of a pilot who has crash-landed in the desert where he encountered a little boy, and called him, The Little Prince. The pilot, the narrator, discovers that the little boy is visiting from another planet. The two immediately get along and become good friends over a week.
The pilot tells him his story of traveling across various planets and all he has seen and learned. In fact, The Little Prince was traveling across the universe in search of wisdom. This classic is one of the most translated books and reads in the modern world. “The Little Prince” is for readers of all ages who wish to reminisce upon the nostalgic innocence of childhood.
Despite its style as a children’s book, The Little Prince deeply goes through allegories over themes about life, childhood versus childhood, love, loss, friendship, loneliness and human nature. Readers will love to read the story till its end with similar enthusiasm.
Author: Mr. Shubham Kumar
ISM, Patna
In modern age, now these days Growth and Expansion are buzzwords. Everybody wants to grow at lightning speed, A youth wants to get rid of his bicycle and ride a bike, a graduate wants to become the CEO, the start-up wants to become a Unicorn, and so on.
'Limit' word is an anathema to aspirations and ambitions. Nobody likes to hear that they have limits. A child is advised by mother that bike might be dangerous for him right now, would have many detractors. Outrightly, it will be heard from people that she is ruining the child’s future by imposing limits. Similarly, if it is told that new plan is impractical and will become impediment to the institution’s growth, s/he will be prey of boss's anger. Everyone wants to be limitless and ever-expanding. Many argue that if the universe is limitless, why should not we?
Limits are an essential quality of our beingness. Consider an instance that we cannot hear what bats and whales can. Man is neither the fastest being on earth, nor the longest or strongest. Yet we hate the idea that we have limits. The limit on power are designed to stop us from autocracy and dictatorial tendencies. We push our bodies in gyms, with various protein shakes and other nutrients, to grow hormones and steroids. This disavowal of limits is the root cause of many tragic deaths of young, who were apparently physically fit. But their hearts gave away under the constant strain of pushing the body’s limits.
There is a well-versed aphorism:
‘Avoid extreme yearning but do not avoid desire itself;
learn to enjoy all that you have earned in moderation’.
अत्याधिक लालसा से बचें, लेकिन स्वयं इच्छा से भी न बचे;
आपने जो कुछ कमाया है, उसका आनंद लेना सीखें।
Author: Rajeshwar Dayal
ISM Patna
Abstract: Li-Fi (Light Fidelity) is a new wireless communication technology that uses visible light to transmit data. It has gained attention in recent years due to its potential advantages over traditional radio-frequency (RF) based communication technologies such as Wi-Fi. This paper provides an overview of Li-Fi, including its history, principles of operation, advantages and disadvantages, and potential applications. We also discuss the current state of research in the field of Li-Fi and provide a perspective on its future prospects.
Introduction: Wireless communication has become an essential part of modern life, enabling people to connect with each other and access the internet from anywhere at any time. However, traditional RF-based communication technologies such as Wi-Fi have limitations such as limited bandwidth, interference from other RF devices, and security issues. Li-Fi is a new wireless communication technology that uses visible light to transmit data, and it has been gaining attention in recent years as a potential solution to these problems.
History: Li-Fi was first demonstrated by Harald Haas, a professor of mobile communications at the University of Edinburgh, in a TED Talk in 2011. He showed how an LED bulb could transmit data through light modulation. Since then, research in the field of Li-Fi has been growing rapidly, with many companies and research institutions developing new technologies and applications.
Principles of Operation: Li-Fi works by modulating the intensity of the light emitted by an LED bulb at a high frequency that is not visible to the human eye. The modulated light is then received by a photodetector in a receiver device, which converts the light signal into data. The data is then processed and transmitted to a computer or other device. The modulation of the light can be done using different techniques such as amplitude modulation (AM), frequency modulation (FM), or pulse width modulation (PWM).
Advantages and Disadvantages: The main advantages of Li-Fi over traditional RF-based communication technologies are its high data transfer rates, greater bandwidth, and improved security. Li-Fi can achieve data transfer rates of up to several gigabits per second, much faster than Wi-Fi. Li-Fi also has a wider bandwidth than Wi-Fi since the visible light spectrum is much larger than the radio frequency spectrum. Finally, Li-Fi is more secure than Wi-Fi since the light signal cannot pass through walls and is confined to the area where the light is emitted.
However, there are also some disadvantages to Li-Fi. The main disadvantage is that it requires line-of-sight between the transmitter and receiver, which means it cannot be used when the light signal is obstructed. Li-Fi also cannot be used outdoors during the day since the sun's light would interfere with the signal.
Applications: Li-Fi has the potential to be used in many applications, such as in hospitals, airplanes, and other environments where the security of wireless communication is a major concern. It can also be used in situations where RF-based communication is not practical or desirable, such as underwater communication, or in environments where RF radiation is not allowed, such as in oil rigs or gas pipelines.
Conclusion: Li-Fi is a promising new wireless communication technology that has the potential to revolutionize the way we connect to the internet and communicate with each other. While there are still some technical and practical challenges to be overcome, the future of Li-Fi looks bright, and we can expect to see more research and development in this field in the coming years.
Technology has evolved education in so numerous ways over the times. It has given lesser access to coffers for scholars and preceptors, but it has also created more significant injuries and distractions in the classroom. For better or worse, technology in the classroom is then to stay, and further tech is being introduced all the time.
OpenAI, an artificial intelligence exploration and development company, introduced ChatGPT to the public in 2022. ChatGPT is a free tool that anyone with a device and internet can use — making it extensively accessible, especially for scholars who, at this point, are all digital natives.
ChatGPT is an AI computer program that uses its intelligence to admit, dissect and produce a response that mimics natural mortal language. It uses a motor- grounded neural network with a massive database that the AI uses to dissect the input information and produce a response. When a mortal stoner inputs questions or commands into ChatGPT, the AI processes the textbook and generates the answer grounded on the neural network data.
How ChatGPT helps educators?
Author: Jaya Kumari ISM Patna
As a mentor, I always guide my mentees to do things with a positive attitude and better understanding so that they can reap maximum satisfaction. But it isn't easy to be positive.
Siddharth is a good student. He enjoys coming to campus and upgrading his skills. Unfortunately, he built his friendship with a naturally gross student, filled with negativity and hates managing time.
These qualities have affected Siddharth, and instead of changing his friend, he started practicing all the bad qualities. His attendance dwindled, got addicted to bad habits, and certainly, these impacted even his personal life.
As a mentor, I can't blindfold and stop ignoring things. I was closely observing the changes in Siddharth and often tried to point out his errors. But he had a cold shoulder and disliked my interference.
I called Siddharth to my workstation one fine day and started a healthy conversation about his friends, family and himself. While discussing his studies, he started to escape and made excuses that he wasn't feeling well and would like to see me later.
Truth is always bitter. I wanted him to wait for a while, confess that he was on the wrong path and will try his best to reprimand his mistakes.
Every time, I record the first interaction of my mentees so that I can show them the change that has come in their overall personality - physically and mentally.
I played the same video before Siddharth when he was adamant about leaving. Initially, he watched his video with dejection, but I could see the tears rolling in his eyes after a minute. I knew I could change him.
Siddharth recalled his promise. He wanted to help his financially weak parents. He wanted to shoulder the responsibilities such as educating his young siblings and working hard to earn better remuneration to fulfill the dreams of self and family.
Ashamed of his behavior, Siddharth admitted that he is unhappy with his own behavior. He wishes to change and bring back the same positivity with which he had joined higher education. A sense of realization sparkled in his eyes. He left my place.
I was very sure that Siddharth would change. After eight months, he visited my office with a broad smile and a sense of pride. He said, “I am placed with a reputed organization on a decent pay package." A copy of his offer letter was in his hands.
I saw the truly happy face of Siddharth. He made me realize that the secret of happiness lies in hardship, self-realization and self-improvement.
People may derail from their goals, but a true mentor can always put you on the right track.
The phrase ‘Survival of the fittest’ was coined way back in the Darwinian evolutionary theory. Today, during this prevailing corona pandemic situation, not only the whole economy of the country and world is passing through a survival test, the existence of human being is also becoming a matter of deep concern.
Now the question is, firstly, how to survive, secondly and more important is, how to make ourselves fit enough to contribute significantly to our family, organisation, society and nation so that the loss can be recovered as much as possible and as soon as possible. It means that, we have to be physically, mentally and emotionally fit to overpower this intruder and take the situation under our stride. We have to develop ourselves as an invincible commando. For this, we have to adopt a complete transformational approach-360 degree transformation. How?
Physical transformation can come from- a) nutritional diet, b) yoga & exercise c) quality sleep and d) hygiene Mental and emotional transformation can come from- a) positive thoughts, b) enthusiasm and winning instinct, c) faith in yourself and Almighty and d) meditation.
We have to realign everything related to our lifestyle, how we are spending our 24 hours, what are our priorities, what are the thoughts our mind is occupied with. Analyse and do some introspection. Wake up, Train, Energise and Powerise the commando in you to fight against all odds. Definitely we can.
Author:- Ravi K Singh
ISM Patna
I have revolutionized and transformed social media in many innovative Ve with around 3 million people connected to the social media platform. They generate a huge mass of data. now my question is, Why should social media be concerned about all these data floating around? The answer of this question is that, Meta –Data is Great Value to social media platforms. Social Network and keep all relevant information as per their need, wants and choices of the user from multiple geographical locations. Social media gets the information monetized when they share their platform with advertisers and marketers are one single solution for this scenario. Social media is a most productive ground for advertiser and marketers as it is offering them to use AI to introduce real life shopping experience for their customers there are different examples where AI has been helping social media marketing. I have successfully acted as a social monitoring tool to help the businesses by tracking and collecting “brand mentions” by offering a number of features such as scheduling, analytics, monitoring etc. AI has the ability to social media network in different stages of content management. Social media is supposed to be dynamic, vibrant lively 24 into 7 platform social interaction and meetings. Records the social activities and provides auto scheduling features to make sure that already created and saved posts are automatically posted.AI also record the information to outline the solution and design for future improvements.
Author:- Vandana Verma
ISM Patna
This crisis is teaching us many important lessons. A numerous positive things are happening in the world. We are supporting each other. We are more creative and innovative than ever before. We can work flexibly from home in many roles where previously this may have been denied as an option. The change from our normal patterns of living has already had a significant positive effect on the levels of pollutants in the atmosphere and on our planet. Tele work potentially offering significant savings on fuel, office space, carbon emissions, improves productivity and morale and even reduce stress too. But there are a lot of practical challenges which needs to be address to keep running in this condition. It’s a paradoxical time and the paradox is happening in business. We’re still in the middle of this crisis, where the future isn’t fully clear. Will this go on for a few days, months, or are we going to have health and economic disruption for years?
This is a highly complex, unprecedented situation, so there is no clear, universal action template available for organizations to adopt. Recognizing that many organizations are currently unprepared for a long-term shift to remote work.
2020 was the start of a new decade. Whether for-profit or nonprofit, large or small, most companies set a revised strategy for the decade that included short- and long-term business objectives. Many organizations must plan to begin this year with individual and team goals tied to employee performance and success targets. The physical and mental wellbeing of people, organizations and entire societies is under enormous threat, dramatically changing the priorities of business leaders. So it is important to revisit the 2020 roadmaps to know how organizations will address success factor. HR will need to refocus the strategy on post-corona recovery and growth. This will in fact, will boost the organizations success story. HR thus needs to be taking lead role in understanding what makes people engaged, what cultures drive the most productive workplaces and what equations enable a true merging of human capability with technology for driving success. It’s time to make work easier, bring people together in a digital way, and refocus our priorities on trust, compassion, and action. The one way to stay competitive is by ensuring that the right people are hired and understanding of mutual goal should be on priority in order to survive in the unpredictable times coming up. Ethics is needed to tell the truth. Take care of people, customers, society, and the environment. Do not accept mediocrity and learn to be “great” at what you do. Hold yourself accountable for excellence. In this reset, we enter a new world of trust-centric business. Let’s hope this reset sticks with us.
The best HR knows that there is no exception that one should never let a crisis go to waste.The current state of affairs allows them to display their leadership and decision-making skills in new ways. It is the responsibility of each member of each organization to put in their utmost and helps to maintain everyone’s morale and keep the relationship intact as the world moves through this challenge and maintain smooth business functioning.
Author:- Pooja Dubey
ISM Patna
Blockchain is relatively a new technology that is constantly becoming an integrated part of the corporate ecosystem. Blockchain is a new way of information sharing and communication within a corporate and its stakeholders for example suppliers and distributors. As businesses expand and keep on adding more and more stakeholders, the importance of information sharing among them increases. As the business keeps on expanding, the firms will establish business relations with companies they know very little about. So the trust factor comes into play. A lot of information is exchanged among the firm and its stakeholders which is of vital importance. The role of Blockchain is to prepare and maintains the way of sharing information which is verified by all the members of the value chain. So no one can change the shared data without the approval of all the other stakeholders. Data is shared with all the parties which are doing business with each other on real-time basis. So Blockchain brings in reliability and accuracy in the shared data. This reduces the problem of trust deficit to a large extent. Blockchain has not become a buzzword and is being rapidly adopted by all the leading organizations of the country.
Blockchain is not only about business to business communication. The customers in western countries are using it to get all the information about perishable food items. We know that the concept of packaged food is very prevalent and customers want to know everything about the packaged item that they are about to consume. Some companies have come up with a unique concept using Blockchain technology to provide all the information about the food item which is being purchased by the customer. By scanning the package of the food item, the customer can get to know when the food item was purchased from the farmer when the food item reached the factory to get processed and for how many days has the food item spent in company’s warehouse.
So the Blockchain era has just begun!!
Author:- Nityanand Deva
ISM Patna
All normal people have feelings. Perhaps we have feelings all the time, even if the intensity varies greatly. In order to recognize ourselves and others, it is decisive for us to perceive, interpret and respond to our own feelings and those of others. Emotions frequently results in physical and psychological changes that influence thought and action. Hundred of research papers are asserting that emotions are ubiquitous to human life. It fluctuates through the highs and lows, but we have the ability to enhance our own sense of well-being. We spend an inordinate amount of time and energy in waiting for something because we truly believe that the change we anticipate will enhance the quality of our lives. We obstinately cling to this position even though life’s circumstances don’t really change. While we can control the circumstances to some extent rather many situations are beyond our command but how we choose to spend our days or direct our attention can have a significant contribution to our happiness levels. A neurobiologist Antonio Damasio asserts, feelings are emotions that are perceived and understood by the one who experiences them. Emotional confrontation will always stimulate turbulence, annoyance, and disturbance.
The current world is a stress-ridden world, fast pace of life aggravates the situation further. Maintaining balance in life is exceedingly crucial. We need to develop a composed, serene, and tranquil state of mind in all types of situations. If we want to progress in our lives, then we have to attune ourselves with positive emotions. The positive emotions like love, joy, pride, inspiration etc are likely to strike you as desirable emotions to experience. Most people agree that striving to increase your experiences of these emotions is a worthy cause. Whether you stay on monarchy of happiness it is importance to make conscious effort to experience one of these emotions further.
The Broaden and Build Theory, developed by Barbara Fredrickson, explain that positive and negative emotions plays vary roles in a person processing and personal development. The outcomes are not limited to one area of being rather span across every nook and cranny of the human experience. The major benefits of experiencing positive emotions that it moderate the impact of stressful events on coping ability, and in turn, psychological and physical well-being. It allows individuals to bounce back from stressful events and find meaning in negative experiences and to decrease depressive symptoms. The positivity at work led to enhanced self-efficacy, which in turn increased job and relationship satisfaction and mental health. Many conducted research confirming that different positive emotions lead to different positive outcomes. When humans are content, or happy, the wiring in our brain changes in ways that scientists are still trying to understand.
Each and every individual needs to understand this that keeping a proper balance is must so we should plan every move in life, be it our career or our relationships. Make sure to give hundred percent in everything we do. Also, never neglect health, must spend quality time with friends & family and indulge in a passion.
Here, I have merely scratched the surface in the article but it seems like a worthwhile research topic. There is a world of positive emotion to be discovered and applied in psychological research and practical set.
Author:- Pooja Dubey
ISM Patna
The importance of better work practices was felt by many researchers. Effective management of human resource depends on refining HRM practices to changing conditions. Organization’s success now is measured by how they prioritize the needs.
Today the entire human race gets griped by a deadly pandemic. In a very short period of time, individuals and businesses are compelled to fight with the basic question of survival. Organizations are finding for ways to maintain business continuity and best practices to be followed. There is pressing need to rethink and redesign the HRM practices to operate in new normal. This is a testing time too for every one that on how quickly we adapt, how differently we can plan and execute and how strongly we emerge from this suffering.
I personally believe, the role of a HR Manager should be defined by what it delivers. They need to identify first what they want to deliver as an Organization? “Commitment” or “Control”. HR should for responsible for the architecture of the model which can be used in the process to produce the desired result. There is a need of value based model due to close relationship between what employee’s “HAVE”, how they “FEEL” and what they “DO”.
So what matters today?
• How can we create a work environment for high level of performance with employee engagement and commitment?
• What cultures drive the most productive workplaces?
• What equations enable a true merging of human capability with technology in the new normal?
• What can be the Best HR practices for the profitability with growth?
While strategy formulation HR needs to be proactive in understanding the above question. It is an entirely new phase with newer interfaces and the goal here is to create fresh ways for working for the upcoming years. The HR Manager can take the lead to maintain smooth Organizational functioning for the success and growth.
Author:- Pooja Dubey
ISM Patna
What is Cryptocurrency?
Cryptocurrencies are digital or virtual currencies which has got its name from the technology ‘cryptography’ that is used for its security.
The cryptocurrency is in Hypergrowth. It is growing parabolically for the last few years. But very few people have awareness and knowledge about it.
The harsh reality of Cryptocurrency and how to win in the end
The coin’s value is speculative and hence it can get crashed without any valid reason. The cryptocurrency market is ruled by ‘Greed’ and ‘Fear’. Hence people end up by buying at high and selling at low.
Things to do to get the best result:
1. Do research and know your asset: First do your research on cryptocurrency and know every bit about your investment asset. Know about the different types of cryptocurrencies that are available and information related to all of them. For all data on cryptocurrency, go to the site www.coinmarketcap.com.
2. Be informed and do not gamble: Join telegram for cryptocurrency, for instance, Linear- A Decentralized Delta One Asset protocol. One should stay tuned to news channels such as coindesk.com and cointelegraph.com. Twitter can also be another way of getting updated about cryptocurrencies daily or at least weekly.
3. Know the top and updated stories regarding cryptocurrencies to track the market mood: For any relevant stories on cryptocurrency, just type ‘cardano’ on google and get the top stories related to cryptocurrency.
4. Avoid personal emotions: Fear, greed, fear of missing out(FOMO) and market‘s emotion should be used to maximize return. Joining the community can help to track other people’s emotions.
5. Keep track of your buy and sell prices: A plan should be used for a ‘Buy price’ and a ‘Sell price’.
6. Follow the cryptocurrency cycle: Cryptocurrency follow a market cycle ranging from 18 months to 2 years, with alternate bullish and bearish trend. Euphoria indicates TOP and Despair indicates BOTTOM. One needs to enter the cycle during Despair and exit during Euphoria. Bull markets are further accelerated by media and new investors whereas bear markets are accelerated by fear as soon as the price plumb.
In my next article, CRYPTOCURRENCY PART 2: GOLDEN WAYS TO SPOT THE CORRECT TIME TO BUY AND THE CORRECT TIME TO SELL, I will discuss about some of the golden ways to spot the correct time to buy cryptocurrencies and the correct time to sell it, so that you can beat the cryptocurrency market.
Author:- Saanyukta Sikdar
ISM Patna
Education isn’t merely concerned with imparting knowledge; it’s about imparting knowledge in a manner that would help an individual find means to make a living and survive in this world. Each technological revolution to date has seen a resulting revolution within the field of education. As we have a tendency to stand currently on the cusp of the fourth technological revolution, the same paradigm shift is happening within the sphere of education further – it’s being referred to as Education 4.0.
The cyber-world and therefore the physical world aren’t separate entities anymore; they’ve amalgamated along into one uniform landscape. Smart technology, AI (Artificial Intelligence), and AI have gotten integrated into our daily lives at lightning speed. Therefore, to produce graduates who are ready for this ever-evolving world, educational institutions are bidding adieu to traditional methods of teaching and embracing methods backed by new-age technology.
This is being done by teaching students concerning these technologies as a part of the syllabus further as using these technologies to revolutionize the teaching-learning expertise altogether. A number of the rising trends of Education 4.0 are summarized below:
Accelerated Remote Learning
This combines the simplest of each world – recent and new. The scholars learn theoretical data remotely, victimization digital suggests that whereas sensible skills area units developed face to face further as on-line because the business is moving terribly apace and facing difficulties to bring students in one area. This equips students with a talent set that may facilitate them to overcome unexampled things – the likes of that they’ll face within the business.
Northampton University within the United Kingdom has adopted this technique below the name Active Blending Learning (ABL). This permits the scholars to interact within the learning method additionally, actively and has taken learning on the far side of the room – that is the cornerstone of Education 4.0.
Personalized Learning
Every student is exclusive and has his/her own pace of learning. Whereas this has been widely understood for a moment, correct infrastructure wasn't offered to personalize learning, until now. However, with the advancement in AI and Cloud Computing, it's become attainable to mold the teaching method per a personal student’s wants and learning pace.
Platforms like among the popular school tools that are a unit facilitating customized learning.
Choice of Education Tools
Instead of forcing an equivalent learning inventory on each student, the institutions are giving their students the opportunity to learn with the help of tools that they feel comfortable in using. Students are still being educated on equivalent things, but now, they need the chance to make a decision to absorb that data. Blended Learning, BYOD (Bring Your Own Device), and Flipped lecture rooms are some techniques that are promoting this trend.
Project-Based Learning
To meet the growing demand within the business for time management skills, structure skills, and collaboration skills, Education 4.0 has to return up with project-based learning or capstone project-driven approach. Projects are an excellent way to involve students deeply within the learning method and it offers them an incentive to find out the required skills, all the while keeping the educational method fun and fascinating.
Easy and Correct Assessment
In the recent examination pattern, wherever a student was expected to hit the books, the complete course of study blindly got replaced by an additional sensible technique of assessment. Herein, besides theoretical data, the scholars are going to be tested on projects and fieldwork.
According to a 2016 report by the World Economic Forum, soft talents can comprise quite 30% of the required skill set for future occupations. This new method of analysis and progress assessment can encourage and empower students to accumulate the abundant required soft skills in those area units that are getting to become the requirement for the longer-term force.
Education 4.0 can rework the teaching-learning expertise forever and can manufacture students that are prepared for the business of the longer term.
Author:- Jaya Kumari
Asst. Prof. | ISM Patna
Abstract:
Although the new developments in information technology are challenging, even overwhelming, the real challenges that we face are not technical in nature. Instead, it is the need to imagine and implement change that will translate traditional values into networked and electronic information in the future. IT cuts across all sectors of the budget and it must reflect the recurring needs and long-term expenditures required to keep up to date. Otherwise, hardware will become outdated, software obsolete, networking access limited, the infrastructure outdated, and personnel ineffective. The major objective of the librarians here is to retain the image of the library by using innovative information technology wisely and carefully. Librarians cannot become so carried away by information technologies that they are far ahead of their users. That is another good way to lose users. Librarians must remember the influence that changing generations will have on library services.
Introduction:
The objective of information technology is to provide better services to users by means of transmitting data or messages in the form of written or printed records, electronic or any other medium. Information technology plays an important role in information handling i.e. reduction in computing time, capabilities of resource sharing, the economic storage capacity of files on various mediums like discs, tapes, etc.
This era is being recognized by terms and phrases such as ‘information age’, ‘wired society’, ‘global village’, ‘information superhighway, ‘invisible colleges’, ‘technical gatekeepers’ all of which have deep implications on the functions and services of the library. The storage and retrieval of information have taken various forms and formats like online databases, microfilm/fiche, telecommunications facilities, video text, etc. Information technology tools have changed the way libraries function. From electronic resource management to digital integration, license information to automation, recent examples show that IT is essential for staying in sync with the best library practices in the world. In the IT environment, librarians would discover that ‘libraries without walls’ are actually only libraries with new walls- technologically bounded, legally restricted, and administratively hamstrung.
Impact of IT:
Information Technology (IT) has affected and impacted the library services in many ways. In the broader sense, it has resulted in:
Conclusion:
At last, we come to the conclusion that IT is reforming library management in various aspects. It has made the working easy & fast by providing various facilities to the management. IT is proving to be the need in today's era in order to implement changes and even sustain the traditional ways. It's helping in retaining the image of the library wisely and carefully. It is proposing a new reflection of the library in the new generation with new services and breaking the stereotype.
Author:- Ms. Pratibha Raj
Librarian | ISM Patna
Artificial intelligence is being employed in a very wide approach within the Indian Education Sector.
Youth is a promising section of each country's population. As a result, we tend to effectively faucet into the youth potential. Quality education is that solely thanks to accomplishing this. With the growth of artificial intelligence in the Republic of India, it's the best time to include AI in education to reap its edges and prepare the youth of India for the longer term. Computing has high potential in India. India's AI technology has the potential to create a world of leaders in computing. In India, AI technology is employed effectively in nearly every space, together with agriculture, healthcare, education, infrastructure, transportation, retail, production, etc.
By 2035, computing has the potential to feature US$1 trillion to the Indian economy. In keeping up with the study, AI technology has the potential to beat physical capital and labor constraints in India to make new sources important and grow. AI technology can automatize difficult and routine processes, that can result in higher use of human resources by permitting them to focus their efforts wherever they contribute the foremost worth, boosting overall potency. There are several industries wherever the influence of computing in India is believed to supply substantial blessings, together with education, health, agriculture, infrastructure, and transportation.
The most crucial section of each country's population is its youth. And smart education is crucial for it to be capable of leading the country toward a brighter future. With the influence of AI in education in India growing by the day, the education sector should adapt its plans to account for the impact of AI in education and the way it will assist today's young minds to become tomorrow's capable leaders and innovators.
AI in education will play a key role in achieving the country's 2030 objectives, which are aligned with the United Nations property Development Goals. One of these goals is to expand the number of competent instructors considerably. AI in education will assist our lecturers in increasing their potency by exploiting AI applications like the period text to speech and text translation systems, automating mundane and repetitive tasks like taking group action, automating grading, personalizing the educational journey supported expertise, skill, and understanding, etc.
Artificial intelligence includes a vast potential in the Republic of India. PictoBlox AI - India's 1st interactive AI education platform, has been developed to supply satisfying project-based learning expertise through its computing and machine learning tools integrated into a graphical programming interface. This implements AI education in India and prepares the youth for an AI future. It includes learning materials like tutorials, target-hunting, and a tutor-led online AI course, all designed with generation Z in mind.
India has long advocated for universal education. It currently includes a population of concerning 600 million kids. All of these merits an honest education, skills, and employment. At an equivalent time, AI education could become more accessible and comprehensive. Around the world, several tutoring services and learning applications with skill-based curricula are being created. These AI-enabled technologies can permit access worldwide school rooms from the comfort of the house. It'll not solely empower students, but will also assist lecturers to sustain with current trends. Such solutions may well be extraordinarily useful to rural schooling. Students within the most distant corners of the Republic of India would be able to learn within the same approach that students in metropolitan areas do.
Author:- Ms. Jaya Kumari
Asst. Prof. | ISM Patna
Vocational education may be a completely different learning possibility from the trail of faculty or universities. It offers a path that imparts the abilities and data required to figure during a given occupation. It is with the demand of the labor market and is an integral part of the education system.
While college education usually provides theoretical or broad data that might be applied to a spread of professions inside a particular field, vocational education teaches students the precise skills and data required to hold out a particular craft, technical ability, or trade.
College education usually includes courses on a spread of subjects that will in some way relate to a student's major which a graduate might not use in their career. Vocational School, on the opposite hand, skips this kind of broad educational study and instead provides direct data and instruction for a particular field or position.
The line of work variety of education is meant to form students "work ready" upon graduation. It provides practical education; therefore students develop specific trade skills that enable them to leap right into your profession and find a start.
Vocational training conjointly helps individuals move forward in their careers. These programs are usually shorter and additional versatile than college or university programs. This makes it easier for individuals to travel back to high school or take continued education to assist them to move to the following step. Through more education with vocational education, one might have the chance to:
• Advance to the next level position within the same company or field
• Gain the abilities and data required to alter careers
• Ask for higher pay to suit papers or specialty ability
Key features of vocational education and training
Vocational education has some key options that set it aside from intellectual education as a result of it focusing on sensible expertise instead of active training.
1. It makes a student job-ready
Vocational training provides ability-based mostly learning and focuses on the way to teach sensible skills. This suggests that upon completion of the program a student has gained the mandatory data associate degreed active skills required to perform specific tasks of an occupation.
2. It's supported competence
Student performance relies on competency that's outlined by meeting bound criteria. By the top of the educational program, a student should demonstrate satisfactory performance on each of those criteria to be thought-about competent in their chosen profession.
Each vocational education program options units of competence. These specialize in skills and data someone must-have for this occupation. The program includes a particular set of units of competence that the student must master. This varies by the trade, craft, or technical program.
Advantages of vocational education training
Pursuing a vocational training possibility will open varied doors for college students. They need the chance to find out a particular trade that will enable them to make an associate degree exciting career during a new field.
The focus on sensible skills
Practical learning vs theoretical learning ought to be a priority for those evaluating colleges. Students in line of work colleges pay considerably longer learning sensible and tangible skills that they'll want for the geographic point. They're additionally ready to start their jobs straight off.
An education that prepares students for the world stage
Vocational colleges attract students with a spread of various life experiences. Students have the prospect to attend courses and work closely with classmates from completely different ethnic, cultural, and economic backgrounds.
Students graduate with an intimate expertise of operating cross-culturally, a more robust understanding of acting with individuals from completely different backgrounds, and also the insight they have to thrive in jobs around the world. In different words, they become assets to their organizations within the globalized world.
Building higher relationships with classmates and professors
The schooling expertise differs once it involves the vocational training expertise. Students pay considerably longer in their physical categories and less time performing on outside comes. Students work along closely with their classmates and type relationships with academics as they move through the program. This could facilitate students originated higher networking experiences and mentorship.
Awakening passions
Students in line of work jobs enter their career methods as a result of they need the prospect to pursue their passion or a career that interests them. Once they get to high school, they notice that they will pay important hours weekly engaged directly with this space of interest for them. This encourages interest within the courses and creates a wonderful learning atmosphere for college kids.
Adaptable Programs
Vocational Courses are supposed to support non-conventional students WHO want to review whereas equalization different obligations. Choices like online learning, evening, night weekend build this different useful for those attempting to develop new career experience whereas operating full-time.
Economic edges of vocational training
Students coming into the line of work programs conjointly notice that they expertise a spread of various economic edges from selecting this academic path.
• They usually have a better time finding employment
• Students usually will end college quicker
• Schools within the line of work sector usually value but different kinds of learning establishments
Challenges facing vocational training
Although the advantages for college students coming into the line of work academic programs are several, there are several challenges of vocational training that those coming into a connected field ought to remember.
• Less of a chance to explore completely different subjects
• Employers who specialize in line of work students may be less ready to adapt
Author:- Ms. Jaya Kumari
Asst. Prof. | ISM Patna
Globalization poses a variety of complex trends in the profitable, social and artistic fabrics of society.
We live in an intensively interdependent world in which all the immense differences of culture and literal experiences are compressed together in instant communication.
Traditionally services are viewed as domestic conditioning due to direct contact between patron, consumer and government monopoly in the structure sector.
The line of work variety of education is meant to form students "work ready" upon graduation. It provides practical education; therefore students develop specific trade skills that enable them to leap right into your profession and find a start.
The arising digitization conception has altered this perception. The ascent of information and communication technology has given rise to e-commerce, e-banking, e-learning, e medicine and e-governance.
In the earlier times, Gurukulas dominated the society, which emphasized traditional and artistic education, which had its domestic restrictions. But the Indian education system made a drastic transformation after the NEP 2020.
Today education has turned out to be a commodity of transnational trade. It's no more a public good on a domestic scale, but a private good on a global scale. Globalization brings education to the frontal lines. In the prevailing converse, education is anticipated to be the major tool for objectification into the 'knowledge society' and the 'technological frugality.'
On the completion of one year of National Education Policy (NEP) 2020, PM Narendra Modi launched the Academic Bank of Credit (ABC), a promising policy to internationalise India's advanced education system. This action will further prove to be an impetus to the globalization of the Indian education system.
Author:- Ms. Shilpi Kavita
Asst. Prof. | ISM Patna
Virtual reality is “reality” that is “virtual.” It means that, in principle, anything that can happen in actuality can be programmed and instructed “virtually”. The online world is similar to the physical and achieves the same status, but at the same time, it also has this state of quality of possibility that you don’t have in the physical world. Virtual Reality gives us this sense of being able to be who we are without limitation; Virtual reality is suitable for the study of different things such as spatial representation and spatial navigation. This is at the core of the use of VR: to break down the walls of our room, to transport us to another space, a space that we can explore with or without moving.
The performance of virtual reality can be an important contribution in higher education, where the merging of the real world to the virtual world can portray a new image of education. It is a cost-effective investment for a higher education institution. To utilize and upgrade innovation to the next level, it is important to provide in-house content creation support for educators. VR training and educational outlines should be designed and conveyed to confirm that excellent content is provided. Optimistic involvements of VR technology will allow our students to carry on the improvement diffusion process as they move to the place of work.
Virtual reality (VR) technology is one of the most ground-breaking technologies of this century, and higher education is in the early stages of adopting the innovative technology as a teaching tool The up-take has been led by science, technology, engineering, and mathematics (STEM) disciplines, on the back of rapid industry demand for workforces of the future There are numerous ways in which VR tools can be engaged to distribute immersive learning practices such as augmented reality projections, virtual constructed 3D realities and interactive 360° videos. The technology can take students to locations that are physically restricted It allows interaction with 3D models or designs in orientations and scales not previously possible. Competencies generated for students from VAR in education include spatial visualization, innovative thinking, problem-solving, critical thinking, and empathy.
The moving options for education are only controlled by the imagination of the inventor. Adoption of technology inventions in education has been defined using several contexts, including Roger’s innovation diffusion. For virtual laboratories important factors for adoption have been identified as; technology acceptance, relative advantage, the intention of use, and trialability. Trialability is completely interrelated with the rates of innovation adoption as it allows the user to experience and experiment with the technology firsthand. It follows that the opportunity to have hands-on experience with VR technology is central to an educator’s willingness to adopt the technology in their teaching.
This is especially important as there is a large range of teaching pedagogies that can be used with VR technology. As implementation rates of VR technology in higher education are connected to an educator’s ability to trial with VR teaching content, the right technology setup must be built. There is currently a gap in the research about rates of adoption of VR tools across a higher education institute, as VR structure is generally planned for a single educational purpose or discipline. VR technology can cause discomfort, mainly in the form of motion sickness and headaches when using headsets, hence the right technology must be selected for the learning cases. Further, poor educational experiences can be exacerbated by inadequate employment of the technology; such as limiting the number of head-sets per class due to cost and visual gap due to poor network connectivity. There is a lack of issued research on the optimal designs and costs for VR teaching technologies and an absence of data from longitudinal studies of innovation adoption across entire higher education institutions. This absence of information makes it difficult for educational institutions to make informed decisions about VAR technology and to justify large centralized learning investments.
The impacts of Covid-19 have required a rapid adaptation to distance learning and new ways to use VAR technology Transitioning the technology for individual student learning is currently being explored. VAR technology can be effectively organized for every distinct learner, to enable them to participate genuinely in laboratory learning practices, which are specifically important in science and engineering pedagogies The altered approaches being considered include supplying each student with a basic VR headset and crafting more VR content, exclusively those that imitate laboratory-based learning. With the virtuous design, it is expected that VR can partially breach the divide between confrontational teaching and the current distance education deficits.
Author:- Ms. Vandana Verma
Asst. Prof. | ISM Patna
Virtual reality is “reality” that is “virtual.” It means that, in principle, anything that can happen in actuality can be programmed and instructed “virtually”. The online world is similar to the physical and achieves the same status, but at the same time, it also has this state of quality of possibility that you don’t have in the physical world. Virtual Reality gives us this sense of being able to be who we are without limitation; Virtual reality is suitable for the study of different things such as spatial representation and spatial navigation. This is at the core of the use of VR: to break down the walls of our room, to transport us to another space, a space that we can explore with or without moving.
We are having dreams for our life. The increasing inflation is demanding more and more savings and good returns from investments. All these need a good financial plan in our life.
The increasing number of dependents is demanding proper financial planning. In the absence of a proper financial plan, even the good earners in the present can face financial difficulties in the future. Several investment opportunities are available in the market. Some of them are riskier but have good returns and some with moderate risk and moderate returns. The choice is ours, either to go for the riskier or the moderate option.
For choosing the correct investment option according to the prevailing market conditions in the market, we need proper market analysis. The saving and investment plan must be according to the need. The savings can be channelized into productive investment options. We should make a sound financial plan to live a happy and prosperous life.
Author:- Mr. Rahul Kumar Sinha
Asst. Prof. | ISM Patna
THE IT & IT-BPM INDUSTRY in India has over the years tried to pivot the image of being a cost-effective service provider to one of building cutting edge products. This is due to the increased demand for advanced tools and technologies relating to Blockchain, IoT, Artificial Intelligence & Machine Learning and Robotic Process Automation amongst others. The development has ensured a higher focus on reskilling employees and developing a talent pool that can deliver solutions in such niche technologies
This year, employees in Best IT & IT-BPM Workplaces spent an average of 123 hours on training as compared to 93 hours last year. However, investments towards training remain almost the same, signifying that the organizations are moving from traditional classroom-based modes to E-learning and MOOCs.
The average voluntary attrition for the IT & IT-BPM industry has raised from 19 per cent in 2018 to 21 per cent in 2019. With an increased emphasis on training employees, it is imperative for organizations to retain their skilled talent now more than ever. The best workplaces are still ahead of the game as they enjoy the advantage of lower reported attrition of 19 per cent as against 23 per cent in the rest. It is however clear that the war for talent is heating up.
The Great Place to Work survey provides insights into what encourages employees to stay with an organization for a long time. Research reveals that at any point in time, an organization has employees in one of the four zones of retention:
1) High Trust Retention: Employees have an intent to stay for a long time and have a positive perception of Workplace culture.
2) Prisoners at Work: Employees are willing to work with their organization for a long time yet are disconnected from the culture.
3) Flight Risk: Employees are disconnected from the culture and do not intend to stay for a long time.
4) Tourists: Employees like the culture but may not be fully invested.
We observe that in the best workplaces, 78 per cent of employees say they experience a High-Trust High-Retention culture as against 63 per cent in the Rest. However, the reduction in the percentage of Prisoners at Work from 8 per cent in 2018 to 3 per cent in 2019 in the Best Workplaces and from 14 per cent to 6 per cent in the Rest Workplaces, leads the reader to speculate — Could the increase in reported voluntary attrition to be attributed to increasing demand for skilled talent in the industry, thus opening up many more lucrative opportunities for employees seeking a change?
What drives high-trust retention?
In order to understand what drives high-trust retention, it is important to understand what connects people to an organization's culture. We set out to find answers to the following questions:
What are basic employee experiences expected by the talent in the IT & IT-BPM sector?
Analysis reveals that environmental factors such as non-discrimination, good facilities, fun at work and work-life balance have come to characterize workplace culture in this sector. These in turn have become basic expectations/hygiene factors to be met by organizations interested in attracting talent. However, while the presence of these alone will not enhance employee retention, the absence of them results in disengagement.
Should organizations focus on retention or engagement through a high-trust culture?
The IT & IT-BPM sector continues to be a growing industry that offers lucrative opportunities to talented job seekers. Given the dynamic nature of technology, the demand for relevant skilled talent currently surpasses the supply. While organizations are increasingly focused on re-skilling and developing their existing talent, trying to control attrition is akin to fighting a losing battle. In a market where there is an ongoing talent war, an organization may not have a chance to respond to the 'Flight Risk' employee's concerns and engage them in time.
Establishing a clear competitive advantage in the talent market would require an organization to have a great employer brand, backed by internal advocates for the company culture. Beyond just controlling attrition, IT & IT-BPM organizations need to look at how they can engage the hearts and minds of employees to make them significant contributors of innovation and excellence and move out of a 'Prisoner at Work' mindset to that of 'high-trust retention'.
What differentiates employees in a 'Prisoner at Work' zone as against those that report a 'high-trust retention' experience?
The analysis reveals that employee perception in the following areas stands out as differentiators:
1) Fairness: Fairness in performance evaluations, promotions, pay and avoiding favouritism at the workplace is a key differentiating factor for high-trust retention employees.
2) Career Growth & Development: These may be attributed to opportunities for growth, development for leadership positions and factors such as hiring and fitment, where high-trust retention employees perceive their organization to be remarkably better.
3) Management Reliability & Competence: This refers to the management's ability to walk the talk, involving employees in decision making, demonstrating care, and providing candid communication.
With rapid advancements in technology and the changing business environment, it is imperative for the IT & IT-BPM industry and its business leaders to not only facilitate the re-skilling of their employees but also focus on avenues where they can be engaged to be meaningful contributors to the organization. It is not the overall attrition that the organizations should be worried about, but instead, focus on engaging their people to put in discretionary efforts and be active advocates of the organization. Employees also need to adapt to the dynamic nature of the industry and have a conscious awareness regarding the continuous pursuit to enhance their skills.
Providing great facilities, fun at work and work-life balance have become hygiene factors and can no longer guarantee employee retention. It has become vital for organizations to focus on continuous employee experiences. Every interaction between the management and the employees has become a Moment of Truth and plays a key role in driving employee perception. Our study reveals that those managers who demonstrate fairness and reliability and support the development and career growth of employees will be most successful in retaining and engaging their talent. The war for talent will be won by those organizations that have a great workplace culture supported by leaders and managers who actively contribute to making it a Great Place to Work.
Author:- Mr. Nayan Ranjan Sinha
Asst. Prof. | ISM Patna
Parenting is a roller-coaster ride filled with loads of fun as well as moments where we feel as if we are walking on eggshells. When our child has an outburst, we either make frantic attempts to soothe them or end up having a fit ourselves. Though it appears as if we are stumbling in the dark when it comes to understanding our child's emotions, there is still hope. When armed with information about how to help them deal with their emotional challenges, we will be able to sit back and enjoy this ride. Read on. Young children are often beset by strong emotions. Emotional challenges are a part of growing up and uncomfortable situations tend to elicit a mixed set of reactions in children ranging from anger, sadness, fear and worry. A toddler who loses her toy; a middle scholar who is ignored by his friend; a teenager dealing with being overweight - all experience big emotions that require regulation. In some children, the reactions are instantaneous and intense while in others the distress builds up over time before leading to an outburst. How we react to our child's emotions has an impact on their ability to handle their innermost feelings. As parents, we thus have a responsibility to help our children develop emotional intelligence for them to cope with the highs and lows of life.
Parents as role models
Our child's good mental health begins with us. This process starts as early as infancy. At birth, infants lack self-control and often express distress through crying. Our actions, such as calming and soothing a crying baby, serve to regulate the baby's negative emotions. We also elicit positive emotions in our baby through play and other stimulating interactions. Hence, how we behave and express our feelings in front of our children can have a long-lasting impact on them.
As parents, we need to find the inner strength to manage our strong feelings when faced with challenges. When our child shows his report card or talks about his new girlfriend, we know that he is counting on us to hear him out and also watching how we will respond to him. However, we are also human with our flaws and there will be occasions when we lose our cool in front of our children. But it can help if we pause and think about the example we are setting for our children while responding to our difficult feelings.
For choosing the correct investment option according to the prevailing market conditions in the market, we need proper market analysis. The saving and investment plan must be according to the need. The savings can be channelized into productive investment options. We should make a sound financial plan to live a happy and prosperous life.
The following are some pointers on how we can help ourselves and our Children:
1) Be genuine in our ex
It is important to tune into our feelings and not be judgmental about ourselves. This helps to own up our feelings which in turn would motivate us to work towards healthily addressing them rather than elicit a knee-jerk reaction. Children can easily sense when we are faking our reactions. If we are impatient while waiting for our appointment at the doctor's clinic, it helps to verbalize the frustration and at the same time talk about ways to manage the situation better.
2) Empathise:-
It helps to show empathy and validate our children's emotions. There are occasions when we may tend to inadvertently 'minimize' their feelings. This is not helpful as they may then form an impression that their feelings are not important. If our child is disappointed at not being invited to a birthday party, instead of telling them to "grow up" or "it is silly to feel like this over a trivial issue", it helps to acknowledge their feelings.
3) Model emotional regulation:-
Children need to learn appropriate ways of expressing their emotions. This learning can occur through their observation of adult behaviour, hence we need to model socially appropriate behaviours. If our toddler throws her breakfast bowl on the floor during a tantrum, how we react and respond to her out-of-control behaviour would shape her reactions to uncontrollable events and behaviours of others. Remaining calm and composed while cleaning up the mess would help our child to deal with frustrating situations with calmness. Self-regulation is thus a crucial life skill for us parents.
4) Practising time-outs ourselves:-
There will be moments when we would find it difficult to stay calm when our child is having a tantrum. It is important to pull together and take a quick break for a minute or two. We can tell our child "Mummy/Daddy needs some time to think about what is best for you, so I will get back to you in a minute." This serves two purposes, it calms the child, gives him the opportunity to learn how to handle such situations and it gives us the time to pull ourselves together and problem solve and think of ways to handle the situation without an emotional outburst. Involving your spouse in this process makes it a powerful strategy as it gives the impression to the child that parents are working together as a team to deal with challenges.
5) Acknowledge and validate our child's feelings:-
Children can be dramatic and sometimes their emotional ex
Conclusion:-
We need to remember that unhappy parents raise unhappy children. For leading an emotionally healthy life, we need to nurture these four qualities: 'Selfcare' by pampering ourselves, 'Seek support' from family or friends, practice 'Self-compassion' and focusing on our 'Strengths'. If despite working on these aspects, we find it difficult to cope with the demands of parenthood, it is important to reach out to a professional to help talk about our problem areas and look for better ways to manage them.
Author:- Ms. Soumya Shukla
Asst. Prof. | ISM Patna
What is Cryptocurrency?
Cryptocurrencies are digital or virtual currencies that have got their name from the technology 'cryptography' that is used for its security.
The cryptocurrency is in Hypergrowth. It is growing parabolically for the last few years. But very few people have awareness and knowledge about it.
The harsh reality of Cryptocurrency and how to win in the end
The coin's value is speculative and hence it can get crashed without any valid reason. The cryptocurrency market is ruled by 'Greed' and 'Fear'. Hence people end up buying at high and selling at low.
Investment Strategy for gaining from Cryptocurrency:
• Do the research and know your asset: First, do your research on cryptocurrency and know every bit about your investment asset. Know about the different types of cryptocurrencies that are available and information related to all of them. For all data on cryptocurrency, go to the site www.coinmarketcap.com.
• Be informed and do not gamble: Join telegram for cryptocurrency, for instance, Linear- A Decentralized Delta One Asset protocol. One should stay tuned to news channels such as coindesk.com and cointelegraph.com. Twitter can also be another way of getting updated about cryptocurrencies daily or at least weekly.
• Know the top and updated stories regarding cryptocurrencies to track the market mood: For any relevant stories on cryptocurrency, just type 'Cardano' on google and get the top stories related to the cryptocurrency.
• Avoid personal emotions: Fear, greed, fear of missing out(FOMO) and the market's emotion should be used to maximize return. Joining the community can help to track other people's emotions.
• Keep track of your buy and sell prices: A plan should be used for a 'Buy price' and a 'Sell price'.
• Follow the cryptocurrency cycle: Cryptocurrency follows a market cycle ranging from 18 months to 2 years, with the alternate bullish and bearish trend. Euphoria indicates TOP and Despair indicates BOTTOM. One needs to enter the cycle during Despair and exit during Euphoria. Bull markets are further accelerated by media and new investors whereas bear markets are accelerated by fear as soon as the price plumb.
Author:- Ms. Saanyukta Sikdar
Asst. Prof. | ISM Patna
The digital divide in education is the gap between those with decent information and access to technology and people while not consistent with the ACT Centre for Equity in Learning. The digital divide may be a term typically referred to within the education sector to showcase inequalities in physical access to technology yet because of the imbalances in resources and skills required to participate as a digital nation effectively. However, to comprehensively grasp the digital divide, we should perceive the impact of technology on education.
As academics use additional technology in their courses, this divide will increase and preserve socioeconomic disparities for underserved populations, consistent with the ACT Center for Equity in Learning. Concerning seventeen p.c of scholars cannot finish their school assignment thanks to their restricted access to the web. In addition, 50% of low-income families and 42 % of families of colour don't have the technology needed for online education, consistent with the Education Trust.
What are its Implications?
The massive digital divide gap in education means it's an excellent hindrance to the development of underdeveloped areas. The folks living in underdeveloped regions don't seem to be capable of inventing new technologies and conducting research geared toward promoting the living standards of the populations.
The digital split not only impacts young minds' long run but also reduces the possibility of getting a promising career. As a result, students from totally different backgrounds, geographies, communities lose their probability to develop innovative solutions and be accountable voters.
Pre-Pandemic Divide
• Students from urban areas and wealthy families were learning science ideas with contemporary technology and different e-learning platforms. In contrast, rural and low-income families' colleges lacked basic infrastructure facilities like bogs, correct school rooms, and drink.
• The condition of Female children in rural India was even worse than the son. It had been seen that several ladies were falling by the wayside {of colleges|of faculties|of colleges} because the emission cycle starts as schools don't have basic facilities like bogs, medical care in colleges.
• In some areas, students had to steer for 10-12 Kms to provide basic education.
Post-Pandemic Divide
• In urban areas and wealthy families, wherever students and academics are familiar with digital education and thanks to relatively high financial gain, families will afford digital devices for education yet as they will afford numerous e-learning platforms.
• The situation is the opposite in rural areas and low-income families. In most cases, smartphones are owned by earning members, so students are finding scores of difficulties in attending online lectures. People who will afford smartphones face network problems.
• In some cases, academics are unacquainted with online education technology.
Programs for Addressing the Challenges in Bridging the Digital Divide
• The Indian government has passed the Info Technology Act, 2000 to create e-commerce and e-governance successful story in the Asian nation together with national e-governance arrange.
• NOF-N, a project aimed to confirm broadband property to over 2 100000 (200,000) gram panchayats of India by 2016.
• Digital Mobile Library: to bridge the digital divide during a larger means the govt of the Asian nation, unitedly with the Centre for Advanced Computing (CDAC) based chiefly in Pune.
• Unnati: a project of Hindustan Petroleum Corporation restricted (HPCL) that strives to bridge the digital divide in colleges by giving agricultural students with poor economic and social backgrounds access to laptop education.
• E-pathshala: To avail study materials for each rural and concrete student.
• Common Service Centres: enabled the digital reach to out of reach areas.
Author:- Ms. Jaya Kumari
Asst. Prof. | ISM Patna
The digital divide in education is the gap between those with decent information and access to technology and people while not consistent with the ACT Centre for Equity in Learning. The digital divide may be a term typically referred to within the education sector to showcase inequalities in physical access to technology yet because of the imbalances in resources and skills required to participate as a digital nation effectively. However, to comprehensively grasp the digital divide, we should perceive the impact of technology on education.
The Role of Artificial Intelligence in the Financial World
Artificial intelligence technology has several benefits that make it an excellent tool for any virtually operated modern organization, including:
1. Automation – Earlier work performed manually can be quickly completed with artificial intelligence without any complication and fatigue.
2. Enhancement – Artificial Intelligence applications can make products innovative and more efficient, thereby playing a crucial role in customer satisfaction enhancement.
3. Analysis – One can easily analyze a large voluminous document in the least possible time.
4. ROI – Since artificial intelligence works on data with more accuracy, without taking any break makes it a good choice in terms of ROI
Role of Data Analytics in Financial Services
Data analysis plays a crucial role in the decision-making process to know the credibility of customers. Financial transactions have taken place across the globe; expansion of the IoT helps track financial services with the data available. It becomes possible to track information related to every swipe of debit & credit cards taken place across the globe.
Most financial institutions use data analytics to observe customer preferences. It enables them to design customer-oriented products.
Application of Blockchain Technology
Blockchain initially works as a security solution that provides multiple verification points. Multiple verifications create and transmit detailed records step by step.
With an Introduction to Blockchain, it becomes possible to peer-to-peer transfer in the decentralized network. Hence, there is no role of intermediary, as a result, reduces the cost of an intermediary.By keeping a record of every transaction, Most financial Institutions do data analytics to get a competitive advantage. They design suitable products to fulfill the needs of customers
Scope:-There is the broad application of blockchain technology in transferring funds and dealing with digital currency.
Digital Transformations:- Becoming need
In the last few decades, the working style in the banking sector has been completely changed with the wide use of mobile banking, internet banking, and digital transfer of funds. Digital signature has got prominence in a transaction. Working style financial assets are being transformed to fulfill global needs.
Automation: The need of the hour for more Financial Services
Automation tasks are prominent due to their faster, more economical, and more accurate properties. Financial institutions have succeeded in automating some of their internal tasks like account keeping, the transmission of data, receipt generation.
Author:- Mr. Sujay Shekhar
Asst. Prof. | ISM Patna
1. Misunderstanding Insurance as Investment—Insurance should be used only to cover risk and not create wealth. Although Insurance companies and agents try to convince their clients that Insurance provides both protection as well as investment, it should be avoided.
2. Over-investing in Fixed Deposits- Fixed deposits give only a meager about of return which can even lower the value of your wealth by providing a negative real rate of return.
3. Lack of Financial planning for achieving your Goals – most people fail to plan for their future goals properly and do not calculate the required inflation-adjusted amounts. Proper planning should be done, and the amount required to be invested every month after adjusting the inflation should be calculated to fulfill your retirement, children's education, marriage or post-retirement travel plans, etc.
4. Taking advice from brokers for your investments- It is well said by Warren Buffett, "Don't ask a barber whether you need a haircut." A broker is more interested in making their own money on every transaction made than in increasing the wealth of his client. The investor himself should do proper research.
5. Inability to understand the power of compounding to create extraordinary wealth- It was well said by Einstein that "Compound interest is the eighth wonder of the world."
6. Buying stocks based on rumors and tips- Do your research to buy stocks. Never buy it on rumors. Always go against the crowd. Contrarian philosophy should be followed to create wealth.
7. Over-investment in Gold – This is another mistake that is made by the people where gold gives a much lesser amount of return.
8. Unnecessary Show-off - Remember that social status is symbolized by the knowledge we possess and not by our own things.
9. Buying unnecessary items just because it is on discount- According to Warren Buffett --"If you buy things you do not need, soon you will have to sell things you need."
10. Being impatient - It is rightly quoted by Warren Buffet - "The Stock Market is a device for transferring money from the impatient to the patient." You kill your portfolio by being impatient.
Author:- Ms. Saanyukta Sikdar
Asst. Prof. | ISM Patna
We mortal beings have an essential need for effects. It may be a toothpaste, soap, cleaner, or vesture, but we tend to protect against these effects. Shopping generally refers to the act of buying products. Occasionally this is done to gain final goods, including musts similar as food and apparel; occasionally, it takes place as a recreational exertion. Recreational shopping frequently involves window shopping and browsing. It doesn't always affect a purchase. Merchandising is one of the oldest generalities in the world and is the last stage of any profitable exertion. With the development of mortal civilization, the commerce between the directors and the consumer bettered.
The retail operation focuses on all the conditioning involved in dealing with the goods or services to the final consumer. People living in civic areas are familiar with merchandising as there is a number of different types of shops contending to vend their products. While merchandising in pastoral areas is more unorganized, and generally, there are many shops that vend as per the demand of the original consumer.
The retail operation makes shopping an enjoyable experience and ensures the guests leave the store with a smile. In simpler words, retail operation helps guests shop without any difficulty.
Merchandising Involves
1. Relating target guests.
2. Interpreting the requirements of the targeted guests.
3. Developing good assortments of wares.
4. Presenting them in a manner that the consumer finds easy and seductive to buy.
Characteristics of Retailing
1. Trade volume is large in amounts but lower in financial value.
2. Client service plays a vital part.
3. Deals elevations are offered at this point only.
4. Retail outlets are further than any other form of business.
5. Position and layout are critical factors in the retail business.
6. It offers employment occasion to all ages.
Nature of Retailing
● Value Added, which may be related to Quality, Convenience, Exclusivity, & Service Response.
● Client Need Grounded Service.
● Hot Placed & Influential.
● Serves guests by helping those select products.
● Drives deals through the engagement of guests.
● Suggestive selling and participating product knowledge.
The Indian retail sector is presently estimated to be at USD 396 billion and is anticipated to grow by 12, according to a study done by Deloitte. The Indian retail assiduity has over 12 million outlets, which is the largest number of retail outlets in the world. Indian retail sector contributes 22 to the GDP of the country and provides 8 employment according to the exploration and requests. Organized retail, according to Deloitte, is reckoned only for 15 of the total request and is likely to have a share of 21. Food and grocery member is the loftiest contributor in the retail sector. India offers a veritably seductive request for retail investors and has moved to the 4th position from its 1st position as per the AT Kearney's periodic Global Retail Development indicator (GRDI) for three successive times.
India is at 44th position among the world's top retailers in the list of preferred destinations. The moment the conception of shopping has experienced a dramatic change in terms of the format and consumer buying geste is bringing in a major revolution. Ultramodern retail in India consists of shopping centers, multi-storeyed promenades, and huge complexes that offer shopping, entertainment, and food, all under one roof. The demography of India has also experienced an ocean of change, with a large number of the population being youthful workers in the age group of 24 times and nuclear families in civic areas along with adding working women population. There's a significant swell in the employment openings in the services sector as it's going to be the crucial growth motorist of the organized retail sector in India.
As per the check done by Deloitte, the total retail spending in India is going to double in the coming five times, and among them, the organized retail, which is presently growing at the rate of 22, is estimated to be 21of the retail expenditure. The food and grocery member is the loftiest contributor to the retail sector with a major donation from the traditional retailers, and the ultramodern retail will contribute primarily to the apparel and fashion member. So all of the below indicates the vast compass for retail Operation.
Supply Chain Management
● Visual Merchandising and Store Design
● Accounts and Finance
● Store operations and Deals
● Human Coffers
● Management Information System
● Brand Management
● Merchandizing
Careers in Retail
Retail stores are like an intricate machines with lots of moving corridors. After you've decided the type of store you will want to work at; you will have to decide what position you'd like to apply for. Then are the types of retail jobs that you can try :
Cashier
This is the position everyone thinks of when they hear "retail jobs." It's hands-on, and you get a chance to communicate with guests of all types — yes, indeed, the delicate bones.
Deals Associate
The job of a deals associate is, of course, to sell the store's products! A great deals associate will go the redundant afar to maintain excellent client service and make trust between the store and the client.
Store Manager
Still, getting a store director may be right for you! You will need previous experience in retail, and the more you know about every position that helps run a store, the better If you're the responsible type who likes to handle everything formerly.
Buyer
A buyer is a representative for the store — you are responsible for opting and negotiating the goods that are to be vended in the store. Your amazing interpersonal chops will be handy when working with wholesalers to pick what you want to pasture upon.
Visual Merchandiser
Still, also try your hand at getting a visual merchandiser, If you have an eye for great design. Arrange eye-catching displays to announce your great products and design with the window shoppers in mind.
Advertising & Marketing Manager
This job is essential for bringing business into the stores. You will help with advertising strategies to drive implicit guests to the store's physical position and website.
Drawing & Conservation
A clean, well-maintained store is a must to keep guests coming back. Seek out a position in drawing to help the store deliver an optimal client experience.
Security Guard
There may be a time when guests get a little too delicate — that's where the security guard comes in! This position is essential for any store, and if you're strong and willing to stand your ground, a security guard job may be right for you.
Force Director
Still, taking up a position as force director may be your calling! Scourge out those organizational chops and keep track of the particulars vended and unsold at your store, If you're largely detail-acquainted.
Stocker
Another position perfect for a detail-acquainted person, a stocker must unload, marker, and shelf particulars from the force. You might also help guests place orders and requests for particulars that are out of stock.
Retail Warehouse Worker
Analogous to a stocker position, a retail storehouse worker is responsible for packing and dispatching stock that's to be vended in stores. You might need to do some heavy lifting and quick checks on wares for blights that may have been preliminarily overlooked.
Social Media Director
This position is a millennial's dream come true! Show off your marketing chops through effective branding and advertising and help spread the word about the store through the rearmost social media spots.
Client Service Representative
Ever had a bad experience with client service but did not know how to fix it? Come a client service representative yourself and make other guests happy! This job will help you develop a gift for dealing with indeed the most delicate guests.
Human Coffers
Make sure no bone is loosening on the job, and everyone is getting paid the benefits and payment or paycheck they earn.
Loss Prevention Manager
Loss forestallment deals with theft and stolen particulars. It's a position stylish for those with a keen eye and a logical mind and involves keeping track of particulars that are not dealing well to make sure that the store cuts its losses and stays on track.
Platoon Leaders & Bottom Directors
Indeed within a store, it may be delicate to stay in touch with every hand. That's where a platoon leader or bottom director comes in! You will be the middle man who communicates with other platoon leaders and keeps everyone differently in the circle.
Logistics
This is an "everything" type of job for those with multiple skill sets. Some liabilities include making sure the store is meeting all regulations and conditions, keeping track of order cycles and stock shipments, and guiding the store to meet target deals.
Summary
Working in the retail assiduity involves interacting with people to give excellent client service and information about products and services as well as handling and resolving complaints. You're there to hail and serve the guests, and you'll get immediate feedback. A lot of retail jobs involve problems working. It helps to have deals and marketing chops to show, promote and vend the products or services. The capability to speak English and use introductory calculation is generally important. Barcode scanners are used to cipher prices and aggregate the purchases before you admit and process cash or credit payments on the cash register or computer.
Author:- Mr. Nayan Ranjan Sinha
Asst. Prof. | ISM Patna
