REPORT ON BANKING FINANCIAL SERVICES AND INSURANCE – BUSINESS CONCLAVE

Hyderabad, Septemebr 18, 2018– Vignana Jyothi Institute of Management (VJIM), Hyderabad successfully wrapped a Business Conclave at Hotel Avasa on 15th Septemebr 2018. The Concalve saw who’s who of the industry and academia participate, discuss, debate and draw some insightful solutions on the BFSI sector, its present hurdles and solutions.

The conclave was sectoral in nature, dealing with Banking, Financial services and Insurance sector within the present economic landscape of the country. In the inaugural session, Dr. CH S Durga Prasad, Director VJIM and K. Harish Chandra Prasad, Chairman, Governing council VJIM, addressed the students and urged them to optimize the opportunity to elarn from the leading practictioners and researchers within the BFSI community.

The inaugural session was pivoted around the theme- ‘Role of Development Banking in Evolution of Financial System’. Ms. Smitha Mohanty, DGM NABARD, in her address explained the role played by NABARD in developing agricultural and rural economies of the Telangana region. She informed the audience on the crucial role played by NABARD in flagship programmes like mission Kakatiya, Mission Bhagiratha, Micro irrigation projects and warehousing for agriculture needs. Smt. Kanchanlata Pandey, AGM SIDBI in her address, discussed the role of SIDBI in development of MSME sector in the nation and dealt with financing, risks and institutional building for the sector.

The second session of the Conclave was on the role of commercial banks in the digitization of the nation. Sri K.T. Venu Madhav, GM Andhra bank, dwelled on the role of Public Sector Banks in digitizing bank transactions for customers in remote areas by SMAAC and regarding relevant RBI regulations. Sri K Srinivas, VP and CRH Axis bank, in his address touched upon the wide usage of Big Data being applied for performance of employees, branches and tracking the needs of customers. He suggested that the digital world is built on customer needs and bank’s have invested in risk mitigation programmes.

In the third session, dealing with the role of regulators in technology, Sri K S Subramanyam, former ED, IRDA, briefed on the regulatory aspects of banking and explained the various steps being taken to protect the customer interests in insurance sectors. Sri T Srinivasan, AGM SEBI dealt with the various regulatory aspects concerned with security and exchange boards and the steps being taken by the body to prevent scams from occurring to protect the retail investors and large investors alike. Sri G Raghu Raj, GM IDRBT, in his speech detailed the technological development aspects concerned with banking.

Dr. Ch Jyothi delivered the vote of thanks as the event came towards a closure. The conclave was attended by the students, faculty and governing council members of VJIM.

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3 Useful Tips For having a Great Meeting

“Meetings are at the heart of an effective organization, and each meeting is an opportunity to clarify issues, set new directions, sharpen focus, create alignment, and move objectives forward.” – Paul Axtell

What according to you is a good meeting? It is an activity that is:

  1. Efficient so that work gets done.
  2. Fun and Positive so that people enjoy themselves while working at the same time look forward to the next meeting as well.
  3. Participative so that everyone becomes the part of the meeting instead of just zoning out.
  4. Open so that people are free to say what they really think.
  5. Creative so that new ideas can be generated and discussed freely and openly by everyone.

Having graduated from one of the top colleges and being fresh in a new workplace, you will have to be a part of a lot of meetings. So, learning an art of great meeting is fruitful for your overall growth as a leader. So how to begin?

1: Open the meeting with a positive note

Studies have shown that the way a meeting starts, decides the tone for the entire meeting. If you start the meeting with problems, complaints and mutual blame that is exactly you are going to get. But if you start with a positive note, the rest of the meeting is going to be more productive and fun. The best way to start a meeting is to ask each participant to briefly share one thing positive on the agenda we have met for today. This would create a positive environment and when the difficult topics get discussed, people would be more open to listen and might come up with meaningful suggestions.

2: Have Regular Breaks

This should not be an option but a mandatory rule especially in case of long meetings that will go on for hours. Taking five minutes off after every one-hour or half an hour to cool off would help the team to stay focused and productive for the entire meeting. We know the agenda is long and you are tempted to wind it up as soon as possible but taking less breaks would do more harm than good as the productivity will suffer. For all you know, the meeting will run longer than you initially planned.

3: Lose the tableOh yes! This is not something most people would think as a good idea. But there are scientific reasons. Studies have shown that the flow of communication is better when you get to see the entire person. Also for meetings involving 20 plus people, the table would be huge and the average distance between two particular people would be high. This may hamper the flow of thoughts. Losing a table or having a circular sitting arrangement ensure equality and democracy and thus improves the output of a meeting- drastically.

 

TEACHERS DAY CELEBRATION AT VJIM, Hyderabad

With the high spirit of Teachers’ Day in the air, VJIM, Hyderabad students made it extraordinarily special for their professors at the B-school. Festoons, balloons, glitters, cards and flowers lifted the mood of the day to an amazing pitch. It all started after all the teachers and students gathered at the auditorium post the classes for the day.

Monica and Naveen from Batch 26 introduced the event and gripped the audience’s attention. The program kick-started officially after lightening the lamp by Prof Rama Rao, Prof. Padmini and Prof. Manchalla. Then there was a beautiful song performed by Sowmya, PGDM student, VJIM, Hyderabad. The energy of the day soared further when batch 26 unfurled various interesting games held to entertain the faculty.

Amidst laughter, conversations and all the amazing activities, the teaching and non-teaching staff were recognized with gifts and each faculty member was dedicated a song. There was thundering applause in the audience.
The event concluded with a cake cutting ceremony by Dr. Durga Prasad, Director, VJIM, Hyderabad. What a day!

VJIM Orientation through the eyes of the freshman

It all started with the: Ice-Breaker Session by Mr. Javed Jamal

This session provided opportunity to know about others and helped in making ourselves comfortable with the new environment of the B-school.

Treasure Hunt- Prof. Kesav and Prof. Yamini

This is the first event where we participated in mentor groups, and it made us familiar with the places in VJIM, Hyderabad. I really enjoyed this event, because we picked up other groups clues and hid them. But at last we stood in fourth place.

Grooming and Etiquette Session– Prof. Sharat Sharma

This was an eye-opening session for me, as it helped me in recognising the importance of grooming ourselves in this current business world.

My Theme Corner- Prof. Janani and Dr. Bhavani

It was really a fun learning session. It helped us in knowing the difficulties and advantages of working as a team.

Industrial Visit- Dr. Jyothi and Dr. Vishal

We went to FINE CAB CABLES PVT.LTD as a part of our industrial visit, where a member of Acumen Connect joined us. This visit provided us scope to know about the Operations, Waste management, Finance, and management of Human resources at industrial level practically.

Out Bound Training– Prof. Abhishek Sinha and Prof. Niharika

We went to Amar’s Pensieve where we had a lot of fun. It was an absolute stress buster from our daily hectic schedule. But, there was an Accounts examination the next day. However, we did not let that have us- we gained some beautiful experiences and nice memories along with unexplainable learnings.

Diversity Theatre– Dr. Jyothi and Prof. Yamini Meduri

This year unlike previous years, we were given topics related to different dynasties. It is one of the tasks where we faced a lot of difficulties in deciding the roles among us and picking out suitable costumes for the roles. But at last on the day of presentation, we were satisfied with our performances even though we didn’t win. But collectively, we enjoyed the task.

Critical Learnings:

  • During the grooming Session, Prof. Sharat Sharma explained how people are judged based on their appearances. I really found it astonishing because I thought people are purely judged and recognised based on their talents and achievements. After hearing his experiences, I came to know about the importance of grooming in this business world.
  • My theme corner helped me to know the importance of team work and effect of individual contribution while working in a team.
  • Out bound training, was one of the best experience at VJIM, where we learned about trusting others, danced, laughed and lots of fun.

My Viewpoint: All the above-mentioned events helped us in getting to know each other till to the point where we all became friends.

Conclusion: I look forward to two exciting years of PGDM ahead!

– Divya Supraja,
PGDM Class of 2018-2020,
VJIM, Hyderabad

The special Freshers’ Day- Magnopus 2018 at VJIM, Hyderabad

Pull on your seat belts. Fasten them tight. Get, set, ready for the hitchhikers journey to the galaxy- the two years of B-school life!

Magnopus is the Holy Grail for VJIM seniors. Why? After three months of careful selection of the new class, the juniors arrive on campus every year- finally to kick-start their Managerial lives and Magnopus allows the seniors to show them- we have been there, done that!

Essentially, the official Freshers Party of VJIM, Hyderabad, Magnopus is marked by its distinct characteristics- the senior will take the junior for a ride of humor, banter and pleasantries. “You got to do the fun stuff- right on the stage,” is how a senior describes the Freshers Day of the B-school! And July 28, 2018 was all about fun, fun and infinite fun on campus.

Dance. Music. Skits. Food. Laughter. Whispers. Apprehensions. There was joy in the air. A sense of absolute thrill and excitement, but amidst it all- the Mr. and Ms. Fresher contest stole the cherry from the top of the cake. The event kick-started with Jahnavi and Vishal as emcee for the first half. They called upon the entrants to the contest and handed them a questionnaire to test their wit and intelligence. While few pretty faces made it to the finals, few got eliminated. It was time for the second round- the difficult one! Participants had to perform varied tasks to prove their mettle and amidst thundering applause, brainstorming, cheers, opinions and encouragement- Magnopus had its winners-

Ms. Saheli- Ms. Fresher
Mr. Alnoor- Mr. Fresher
New emcees- Rakesh and Shaily took over the event. A series of performances were unfurled- seniors invited juniors with open hearts and welcomed them to the journey called Vignana Jyothi Institute of Management (VJIM), Hyderabad.

The Hyderabad Alumni Chapter Meet saw 50+ alum; revisiting the days gone by

Begumpet’s Ohri’s Jiva Imperia And De Thali had the Parking Full glowsign blinking by the time it was 8 in the evening of August 8,2018. Keen and nostaliga-tinted faces were stepping in the beautiful dining hall of the restaurant- all excited to meet their long-lost friends and faculty with whom they had spent two extremely defining years of their lives. It was time for the Alumni Reunion- Hyderabad Chapter meet!

Beside hosting the annual Alumni Meet on campus, VJIM leaves no stone unturned to stay connected to its alumni. Being the primary torch-bearers of the institute, alumni serve as a major source of motivation for the B-school and its students by contributing through mentorship, guest lecture sessions, placement guidance and what not! August 8, 2018 was about re-celebrating them and their constant efforts to keep the flag of the school- high!

The event started at 7pm with Prof. Janani, Prof. Jayashree, Prof. Padmini, Prof. Jyothi, Mr. Keshav and the Dr. CH S Durga Prasad joining the event. After a welcome speech delivered by the Director, the evenign became all about chats, laughter, food and drinks. B Naresh and S Pruthvi Raj from the 25th batch of VJIM, Hyderabad presented a beautiful musical performance to engage the crowd. Amidst thundering applause, alumni committee member T. Shiva Prasad invited other alumni to share the funniest, craziest and one of the finest memories from his days at VJIM, Hyderabad and his answers had everyone happily nostalgic.

“Looking back and reflecting on the days gone by, made me crave for those days once again. Such easy yet productive times we spent together at the B-school and now friends are all around the globe, doing various things, contributing in millions of ways to make the world a better place to live in,” quipped one alumnus when asked about her experience at the B-school.

Everyone extended their gratitude to the Alumni Committee for the lovely initiative and the evening ended over a hearty dinner with endless conversations. Numbers were re-shared, memories were re-visited and life- relived!

Getting deeper into the realm of Design Thinking and innovation with Mr. H. Akash, Senior Design Manager, Amazon

About the event: Vignana Jyothi Institute Of management had organized a guest lecture on Design Thinking and Innovation on 11th august 2018. The speaker for the lecture was Mr. Akash, who is currently working with Amazon, as a Senior Design Manager having specialised in user experience design.

In his lecture, Mr. H. Akash discussed about Design thinking and Innovation from a management perspective. This lecture introduced a new approach towards identifying and solving problems. It also briefed us about how to apply design thinking to our problems to generate innovative and user-centric solutions.

Keynote Speaker: Mr. H. Akash, Senior Design Manager, Amazon

Guest: Mahesh Kumar, IMAGINXP

“We cannot solve the problems with the same thinking we used to create them,” remarked Mr. H. Akash as he began the lecture. Design thinking is finding a right problem to solve and then right solutions for that problem. It is categorised as:

  • Divergent thinking
  • Convergent thinking

Divergent thinking is more of creativity, that is like mind mapping which involves taking a word and picking up words to map the previous word. Whereas, Convergent thinking is more of analysis, in which each and every part is analysed to form a solution.

What is the difference between innovation and creativity? Creativity is related to imagination, while innovation is related to implementation. Even if there are so many creative ideas, unless and until they are implemented they can’t be termed as innovative.

Design Thinking helps us in unlocking potential and creating confidence. Innovation in design or in marketing strategy differentiate a product or service from the other. There are thethree factors that are needed to be considered: Business objectives, User objectives and Technology. Business objectives are constraints, User objectives are our focus and Technology is our tool. So, we need to find problems and solutions by considering these three factors for optimum results. 90% of the time an industry fails because of not taking these factors into consideration.

Finding the right problem, solves half of the problem. By breaking down a complex right problem in to simple problems and then finding solutions yields to optimistic outcomes. There are various features of design, it is Iterative in which product evolves with time, Collaborative in which the process is mastered by one other’s strategies and Human -centric in which ideas are turned in to facts.

The design process of IMAGINXP involves:

  • Design- rapid prototyping
  • Day-Run- test with small number of users
  • Discover-understanding the user and the unmet needs
  • Define-choose the problem to solve
  • Dream-Create large number of solutions

From the design we can understand the importance of user needs. This indicates “user experience (UX) design is very crucial for the product to be successful. Marketing specialist and UX designers have similar goals. So, the product owners working closely with UX designers help to innovate and drive the product ideas to success. For instance, Airbnb,” explains Mr. H. Akash to simplify the concept to students.

There are some examples where design thinking went wrong. They are:

  • A good design thinking exercise
  • A successful pilot that crashed!
  • Host of problems from fashion, privacy, industrial design
  • Cost, battery life attachment to mobile phones

There are different kinds of innovations that differentiate a product from the other. They are:

  • Packaging innovation
  • Delivery innovation
  • Product innovation
  • Pricing innovation

Aligning Marketing and UX aesthetics improves customer experience, attract new users, engage users, improve conversions, flawless customer journey, content and automation. On being requested by a student he also gave info about how management team brings up an idea and then how it collaborates with technical team to provide a successful product.

The event was concluded by presenting mementos to the speakers and a vote of thanks extended by the students on behalf of Vignana Jyothi Institute of Management.