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Monthly Archives: September 2014

IFRS Industry Institute Interaction (III) session held at SCMS Cochin for PGDM students

SCMS Cochin School of Business organizes Industry Institute Interaction (III) sessions throughout the year to introduce students to new concepts and business practices that can increase their knowledge and employability.

On 10th of September 2014, the current PGDM batch attended the III session on International Financial Reporting Standards (IFRS). It is important for the PGDM students to understand the finer nuances of IFRS since they are now adopted globally. IFRS were first designed to harmonize accounting across the European Union, but the concept was soon adopted world over, making company accounts understandable and comparable across international boundaries.

Mr. Mahesh Mohan, External Quality Assessor, IAAP, UK, and Prof Dr. Gopal Sharma, National Trainer, IFRS, addressed the 23 students who were eager to learn the features and challenges of IFRS. The session began with the main speaker, Mr. Mohan, a member of the International Association of Accounting Professionals (IAAP), talking about the importance of IFRS as a Global business accounting language. He explained that IFRS are specifically crucial for multinational companies, and how their significance has increased with international shareholding and trade. He further surprised the audience with the fact that, “IFRS has been adopted and is practiced by 174 countries including India”.

IFRS are set by the IASB (International Accounting Standard Board) and have become global standards for preparing financial statements. The globally comparable financial statements enable public companies to compete abroad, raise capital, and win global contracts. Mr. Gopal Sharma spoke to the students next and discussed the importance of understanding and practicing the IFRS. He said, “IFRS needs to be understood and followed in letter and spirit when preparing financial statements since the balance sheets and accounting statements communicate the health, wealth and pulse of a business to its stakeholders”.

The floor was eventually thrown open for discussion and the students posed questions to and interacted with the experts to clear their doubts and queries. The session was concluded by Dr. Filomina P. George, Dean- Academic Administration, SCMS Cochin School of Business, who informed the students about the inclusion of IFRS in the PGDM curriculum.

-Sobia Joseph, PGDM, Batch 23

 
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Posted by on September 24, 2014 in Uncategorized

 

How easy is it to survive in the Retail Industry?

Alumnus Mr. Hari Krishnan, Assistant Manager, Marketing, Landmark Group says- “Retail has its pros and cons; the most important thing is investing in the right location.”

hari-krishnanWith his background in hospitality industry, Mr. Hari Krishnan joined SCMS Cochin School of Business in a bid to boost his career prospects. The move paid off as he was recruited on campus by Spencer in the year 2007. He started off with the company as a Retail Management Trainee and worked his way up to be the Assistant Manager, Marketing, in just a few years’ time. But above all, he had gathered rich experience in the dynamic and extremely competitive retail industry, which has led him to bag the position of the Assistant Manager, Marketing with Landmark Group.

Mr. Krishnan has worked with the company for the past one year. Looking back on his journey filled with years of hard work and dedication he says, “Before joining SCMS Cochin I worked as a Banquet Manager in Kochi besides Dominos Pizza. I am happy I went to the institute because it got me placed with Spencer when the food and beverage industry was booming. Since then, there was no looking back.”

Today, Mr. Krishnan is a seasoned professional in the retail industry and has seen it evolve over the past few years. Sharing his insights on the industry he says, “Since I have worked in Food sector I can tell you that if you don’t show output, you won’t succeed. Retail has its pros and cons; the most important thing is investing in the right location because that’s something the customer pays attention too. Reaching people through public media remains the key to success as well.”

Mr. Krishnan believes that it is an industry where you can invest and grow. However today, many in the industry are not investing; trying to maintain what they have put in. That’s what makes him think that it could be the right time for Retail Banking. He also has useful advice for those who want to enter the industry. “Retail is not a white collar job because you have to get your hands dirty. But there are unlimited opportunities as you can take up any function from marketing to finance and operations,” he adds.

Ask Mr. Krishnan about the major benchmarks in his career so far, the avid learner is quick to mention, “Managing the 22,000 sq ft Spencer store in Chennai, which was doing Rs. 26 lakhs average selling per day was a big high. But more than that I appreciate the biggest learning I had there; I was taught to say NO. It is a learning you will need in every industry because at one point or another, you will have to say NO to clients or customers. If you keep saying yes and don’t deliver, then it’s a big sign of failure.”

He has definitely taken his learning on board, which he uses in his current job profile in merchandising, for the Dubai based MNC. Mr. Krishnan handles Kerala marketing operations from the office in Kochi. He remains as passionate about the retail industry as he was during his time at SCMS Cochin where he first realized his calling. He believes it was the time when he learned to be assertive and control his emotions. But he gets emotional talking about the institute where he has been a couple of times since and stays in touch with his batch mates.

So if Mr. Krishnan were to hire from his institute, what are the attributes he’d look for? Without batting an eyelid he says, “I will not look for the mark sheet but pay attention to their communication skills and body language.” That’s something present students at the institute could do well knowing. Mr. Krishnan concludes with further sound advice for students, “Be focussed on what’s good for your career. Take the good from wherever you might be. If you want to join the Retail Industry, make sure you are ready to start from the scratch and see yourself rise.”

 
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Posted by on September 11, 2014 in Alumni

 

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Mr. Vishnu Suresh talks about his solid career in HR so far and sheds light on the functioning of the industry

14098909405231-1Mr. Vishnu Suresh was always interested in Advertising and Sales promotions, which is why he joined SCMS Cochin School of Business. And, during the course of his academic stint he was given opportunities to interact with experts in the field, as he was the part of the Industry Interaction Committee. He thrived on the challenge of making sure these professionals came to the institute’s campus for various interactive sessions. “That made me realize that I was more of a Human Resources person,” he admits. This self-realization has translated into a prolific 8-year career, which sees him as the Business Partner, Human Resources at Tata Elxsi.

The successful journey in HR began for Mr. Suresh during the campus placements in 2007. “It was there that I met people from Allianz and managed to impress them,” he says. “It was a campus placement and I joined the company as Senior Executive, HR. When I was working with them I figured out that HR as a domain was my strength and I should be working on it.” Mr. Suresh worked with the company for around 6 years, and was the Assistant Manager, HR when he decided to move on. Since then he has been HR Business Partner for the Automotive Business Unit at Tata Elxsi.

He believes that his time working at Allianz was a huge learning experience for him. “I started out handling a group of around 160 Software Engineers,” he recollects. “I was managing the key operations for around 3- 4 years and then I was handling the major operation, which was set up in UK and Germany.” Mr. Suresh also agrees that the job was filled with challenges, which made him innovate and come up with ideas that would adapt to individual situations. One example of his success is the Back to Homeland campaign (Boomerang club), which was employed by Allianz with great success.

Talking about that campaign, he says, “It was basically for those who had left the company and were working outside Kerela, who we thought should be working with us. We sent them mail and flyers inviting them to join us again with a 60% success rate.” Another tricky situation he had to handle was when Allianz KPO needed to hire around 60 veterinary doctors with only a small pool to pick from. He adds that most of them preferred to work in the medical field rather than KPO. That’s when they came up with the idea of a loyalty bonus for the doctors, which worked quite well.

There’s indeed a lot to learn from Mr. Suresh’s experiences since he has hands-on exposure in the field. He shares some of the pointers for the HR industry, saying that there are three parameters that acts as the pillars of employee retention: work, work life and compensation. “If any of the two parameters are missing then the person will not able to work. Well, that’s the first sign of employee Dissatisfaction. It is a triangle which has to be intact,” he adds. His understanding and efforts have not gone unnoticed, as can be seen from the Best Performer accolades he has won. It was again an innovation on his part that brought him the recognition.

Mr. Suresh sheds light on the achievement, saying, “It was a project where we put an end to HR process in the UK and outsourced it to India. The HR department is considered to be a support system and a non-billable department. But we were able to generate good revenue; so, based on this project and some others I was given the award.” It was on this high that he moved from a “flamboyant and warm” company like Allianz to a “seasoned company” like Tata. He agrees that it was tough to join a pure engineering company that deals with automobiles, but his passion for the field and expertise in HR has made the transition seamless.HR is an integral part of an organization and where hiring happens. So, Mr. Suresh is probably the best person answer the question: what do hiring professionals look for in a job candidate? He ponders before answering, “The first thing we look for  the style of  the candidate’s presentation and the style of communication, including how much the candidate knows about the topic, and how creatively he puts it in words.. Secondly, I like to ask a question to see if they have a different approach to varied situations. I also like to see presentable students who make an impression and have the capability of thinking out of the box.”

That’s something he says he was prepared for by SCMS Cochin where he was awarded the Best Outgoing Students award during his academic years. He remembers being part of every activity that he was interested in and learning immensely from them. “One of the important lessons I learned is to value relationships,” he says. “I even made a film on relationships during Panorama 2006, and it was quite appreciated. It’s something I pay importance to till date.” No wonder he keeps his relationship with the institute going and has visited the campus since his graduation. And, he hopes to return for hiring in the near future, and that’s more good news for the students.

 
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Posted by on September 10, 2014 in Alumni

 

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National Conference on Knowledge Management hosted by SCMS Cochin in partnership with Consultancy Development Centre has a lasting impression on those in attendance

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SCMS Cochin recently hosted a National Conference on Knowledge Management, which saw some of the leading names in the industry and academia participate and share their insights. The two-day event was held under the “Building Capacities for Consultancy Development & Knowledge Management with Partner Institution (KMPI)” Programme run by the Consultancy Development Centre (CDC). SCMS Cochin, being its Knowledge Management Partner Institute, did everything in its power to ensure that the event turned out to be a huge success.

Given the stature of CDC and the backing it has, a lot was expected from the conference. SCMS Cochin has also earned a name for itself by hosting several events that offer a tremendous learning experience for participants. Hence, anticipation was in the air as the event began with Dr. V. Raman Iyer, Director of the institute, making the welcome address. After Dr. Iyer’s enthusiastic address, the stage was set for the dignitaries and experts in the field who shared valuable insight and advice with the gathering. The impressive list of names that the event managed to draw had already created a buzz and the talks surely lived up to it.

Mr. Rajesh Parpyani, Head-Knowledge Management & Publications, Consultancy Development Centre, New Delhi was the first one to speak. His presentation on knowledge management programs and the major issues related to it had an instant impact on the audience. The presentation also highlighted a study benchmarking the international B schools and Indian B schools.

Mr. Manoj. K. Das, launch editor of The Times of India newspaper and the Deccan Chronicle said, “Knowledge management is more or less a ‘human connect’ and a cultivation process that needs to be passed down to the coming generations.” The good thing about these talks was that the speakers like Mr. Das drew from real life experiences and tried to make concepts more relatable to the audience. His talked ended with a strong message, “Knowledge is to be gained by observing the society, harnessing it and distributing it.”  

Mr. Tobby Simon, President and Founder of the Synergia foundation and member of the Global Security Council, delivered the keynote address. He described the latter as a multi-disciplinary ‘do-tank’ with methodologies and solutions, which set the tone for the dynamic and exciting talk. His presentation focussed on different definitions of what Knowledge is according to the world’s greatest scholars and even the Bhagavad Gita. Mr. Simon had instantly piqued the interest of the gathering, which he held in rapt attention as he began to talk about the importance of ‘inter-disciplinary thinking’. Using examples of visionaries like Leonardo Da Vinci, Benjamin Franklin, and Thomas Edison, he said, “What inventors and scholars had in common was Cross-Disciplinary thinking.” And, quoting John F. Kennedy, he said, “Change is the law of life. And those who look only to the past or the present are certain to miss the future.”

Mr. Praveen Kammath, Global Head- Talent Transformation, Wipro BPO, added another twist to the discussion on Knowledge Management by talking about Humanoids, who are, according to him, man’s future colleagues. Talking about the importance of innovation he said, “Our innovations will become our only survival. Leadership driving knowledge culture is all about passing on and expressing the knowledge that you gained to others.” In closing, Mr. Kammath felt it would benefit the gathering, since they are or would soon be in the business world, to discuss the changing nature of an organization and the sources of organizational knowledge.

Mr. Rajesh Nair delivered a presentation on the art of knowledge management and building knowledge. For him, “Knowledge is something that needs to be disseminated to the coming generation and has to be continually built.” He focused on the important topic of Knowledge versus Creativity, and how to improve our memory and innovative drive. For those interested in understanding Knowledge Management further, he recommended a few books and movies, which seemed to be of great help to the students in the audience.

Mr. Rajeev Mukundhan took to the stage next, stating, “Knowledge Management has evolved into innovations management or insights management.” His presentation had highlights including Smart City and an interesting session on the Internet of Things, which hit the right notes with the audience. Mr. Jack Eapen was the last speaker for the day and he used the example of SunTec, a Kerala-based software product development company, to drive home his point.  According to him, knowledge-based organizations are faced with three common problems: domain knowledge, product knowledge and technical knowledge. Mr. Eapen’s talk closed with a focus on Knowledge-sharing sessions and Knowledge Olympiad, which caught the audience’s imagination.

As the productive and enlightening sessions came to an end, the mission of the conference was accomplished as the participants went home eager, enthused, and richer in an understanding of Knowledge Management. 

 
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Posted by on September 5, 2014 in News And Events

 

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