Business Administration Department: 2020

Friday, 18 December 2020

A Webinar on “Environmental Conservation” on 17.12.2020

Thursday, 10 December 2020

Stress Management

While it may seem like there’s nothing you can do about stress at work and home, there are steps you can take to relieve the pressure and regain control.

The importance of managing stress

If you’re living with high levels of stress, you’re putting your entire well-being at risk. Stress wreaks havoc on your emotional equilibrium, as well as your physical health. It narrows your ability to think clearly, function effectively, and enjoy life. It may seem like there’s nothing you can do about stress. The bills won’t stop coming, there will never be more hours in the day, and your work and family responsibilities will always be demanding. But you have a lot more control than you might think.

Effective stress management helps you break the hold stress has on your life, so you can be happier, healthier, and more productive. The ultimate goal is a balanced life, with time for work, relationships, relaxation, and fun—and the resilience to hold up under pressure and meet challenges head on. But stress management is not one-size-fits-all. That’s why it’s important to experiment and find out what works best for you. The following stress management tips can help you do that.

Thursday, 12 November 2020

What is innovation?

Innovation is the process of turning a new concept into commercial success or widespread use.
Invention is the creation of a new idea or concept.
Creativity is the act of turning new and imaginative ideas into reality.

Creativity

Creativity is the act of channeling imagination into something concrete. It is the very first stage of design, where ideas start to actually take form, and a plan can be developed.

Examples of creativity:

in the case of Uber, creativity was necessary in producing the concept of ride sharing and of making driving jobs accessible to any individual.
another example can be the Google Glass, which although were very creative at the time (new, different in the market), were not necessarily innovative (monetary return over investment made by the company).

Invention

Invention is the physical creation of a new concept or idea. Also, from Nesta’s innovation policy tookit, it is defined as The creation of an idea to do or make something without verification that it works, or is commercially valuable. Invention cannot occur without creativity, but just creativity is not enough to properly develop an idea.

Examples of invention:

product designs, business models, or working prototypes.
Uber channeled invention in creating a solid and working business model, based upon the ideas they had formed in the creation stage.

Innovation

Innovation ties everything together in business. According to British Standards, Innovation is the successful exploitation of new ideas. It involves turning an invention into a commercial success and encouraging its widespread use. This is the stage where bold ideas, once properly developed, are brought to the public eye. This is what Uber has achieved, now that its product is in use all over the world and benefits people everywhere.

Examples of innovation:

successful products and services like Care of, Amazon Scout, Impossible Food, Google’s self-driving taxis, …
successful process innovations like Amazon predictive orders, or additive manufacturing processes.

Friday, 9 October 2020

Training Process

Step 1. Identifying Training Needs:

Training need is a difference between standard performance and actual performance. Hence, it tries to bridge the gap between standard performance and actual performance. The gap clearly underlines the need for training of employees. Hence, under this phase, the gap is identified in order to assess the training needs.

Step 2. Establish Specific Objectives:

After the identification of training needs, the most crucial task is to determine the objectives of training. Hence, the primary purpose of training should focus to bridge the gap between standard performance and actual performance. This can be done through setting training objectives. Thus, basic objective of training is to bring proper match between man and the job.

Step 3. Select Appropriate Methods:

Training methods are desired means of attaining training objectives. After the determination of training needs and specification of objectives, an appropriate training method is to be identified and selected to achieve the stated objectives. There are number of training methods available but their suitability is judged as per the need of organizational training needs.
Step 4. Implement Programs:
After the selection of an appropriate method, the actual functioning takes place. Under this step, the prepared plans and programs are implemented to get the desired output. Under it, employees are trained to develop for better performance of organizational activities.
Step 5. Evaluate Program:
It consists of an evaluation of various aspects of training in order to know whether the training program was effective. In other words, it refers to the training utility in terms of effect of training on employees’ performance.
Step 6. Feedback:
Finally, a feedback mechanism is created in order to identify the weak areas in the training program and improve the same in future. For this purpose, information relating to class room, food, lodging etc., are obtained from participants. The obtained information, then, evaluated, and analyzed in order to mark weak areas of training programs and for future improvements.

Tuesday, 15 September 2020

6 elements of a successful leadership development program

1 – Small, focused and supportive leadership groups

When a company decides to start a leadership development program, it’s better to start small. Create a core group of those who are already in leadership roles, limited to 12, and this forms the foundation of the program. A small group can be more effective because each individual has added attention and time to work on his or her skills. The small group also allows for greater support and connection among members.

2 – Instructors with years of experience leading

The best leadership development programs include a strong central leader and a secondary leader, who share years of experience and have effective instruction skills. Look to leaders in the industry who possess this experience and skill working with people. Peter Drucker once said, “Management is doing things right; leadership is doing the right thing." Make sure instructors are training leaders to lead others, not teaching basic management skills.3 – Multiple methods of learning leadership concepts

Every person in the leadership training program will come with different ways of learning new concepts, absorbing and sharing information, and seeing the world. Create a multi-media training program that brings in the best of all forms of learning, from written materials to in-person conference participation. Make leadership training fun and something that all participants can get excited about.

4 – Clear goals and milestones for all leader participants

Each person who is learning in the leadership development program should have sat down with a mentor to decide on short and long term goals. So too, there should be a way to measure successes, with regular milestones. According to Christopher Pappas, founder of the eLearning Network, adult learners, “generally prefer practical knowledge that will improve their skills, facilitate their work and boost their confidence.” Use this as a way to measure success.

5 – Methods for identifying future leaders

A sustainable leadership development program will always be looking to the development of future leaders once the core group has attained their goals. In this video, published by Harvard Business, Claudio Fernandez-Araoz, Senior Adviser, Egon Zehnder International provides several tips for identifying future leaders to bring into the fold. He calls them ‘high potential employees’.

6 – Retention program for preserving leaders

Once leaders have gone through the training program, they should receive ongoing support and meet with their small groups on a monthly basis. When a company invests so much into developing leaders, they will be able to transfer these traits to their jobs immediately, but they still need guidance and support to succeed. Retention of leaders is good for business.