IIMB and ISB join hands to train the next generation of B-School faculty

Prof. Sourav Mukherji 2

Sourav Mukherji
Dean of Academic Programmes
IIM Bangalore

First-of-its-kind partnership to promote teaching excellence amongst India’s B-Schools

07 September, 2017: In a first-of-its-kind collaboration, Indian Institute of Management Bangalore (IIMB) and the Indian School of Business (ISB) have joined hands to organize the ISB-IIMB Doctoral Consortium on Teaching for doctoral candidates who are about to start their careers as faculty at India’s B-schools.

Led by Professors Arun Pereira, Executive Director of the Centre for Learning and Management (CLMP) at the ISB, and Sourav Mukherji, Dean of Academic Programmes at IIMB, the Consortium had participation from doctoral candidates at ISB, IIM Ahmedabad, IIM Bangalore, IIM Lucknow, IIM Indore, and IIM Kozhikode among others.

Participants were trained on effective teaching and classroom management, by using student-centered learning approaches to teaching, conducting effective case discussions, understanding the changing role of technology inside and outside the classroom, knowing the importance of student learning styles, how to engage with them better and what it takes to design a compelling learning experience for students.

Sharing his perspective on how the association between the two B-schools can make a difference, Professor Arun Pereira of ISB said, “The ISB-IIMB Consortium is a fine example of how collaboration among Indian B Schools can raise the bar for management education in India. If Indian B-schools are to grow in quality and global stature, it is critical that the quality of faculty and teaching standards are on par with the best in the world, and programmes like this help to make that a reality. The ISB-IIMB association is unique in that it meets an increasingly urgent need to build capacity for India’s burgeoning management education sector.”

Professor Sourav Mukherji, Dean of Academic Programmes at IIMB, and one of the lead faculty for the programme, said: “The ISB-IIMB Doctoral Consortium addresses a long felt demand of the doctoral student community to provide key inputs towards honing teaching skills from the master teachers of ISB and IIM Bangalore. While several doctoral consortia have in the past focused on enhancing much needed research skills, the uniqueness of this programme lies in its focus on teaching, which given the enormous shortage of high quality business school faculty, caters to an important national agenda.”

Now in its fourth year the Consortium was for the first time organized jointly by the two B Schools, at the ISB’s Hyderabad campus. The programme is targeted at final year FPM /Ph.D./Doctoral candidates to help them get a head start as they begin their careers. A unique component of the programme is that each participant was required to teach and was provided substantive feedback, along with a recording of their teaching for review and reflection.

Participants from the consortium shared their experiences of how the Consortium was helpful. Kaveri Krishnan, from IIMB, said was a ‘very valuable experience, especially for doctoral students with no prior teaching experience’, while Biswajita Parida, IIMA, said the consortium was ‘an eye-opener to the state of the art technological tools, teaching methods, and styles of assessment evolving in the contemporary market.

The Doctoral Consortium was supported and funded by the International Schools of Business Management (ISBM). ISB Is a member of the ISBM — a group comprising of leading B Schools such as HEC Paris, IMD Lausanne, INSEAD Fontainebleau, Kellogg School of Management, North western University, London Business School, SDA Bocconi, Milan, Stern School of Business, New York University, Stockholm School of Economics, IAE Aix-Marseille Graduate School of Management, and China Europe International Business School (CEIBS).

About ISB

Indian School of Business (ISB) is a global Business school offering world-class management education across its two campuses – Hyderabad and Mohali. The School has grown at a rapid pace over the sixteen years since its inception and already has several notable accomplishments to its credit – it is the youngest school ever to consistently rank among the top Global MBA programmes, one among the select 100 global B-schools to have AACSB and EQUIS accreditation, one of the largest providers of Executive Education in Asia, and the most research productive Indian management institution. A vibrant pool of research-oriented resident faculty, strong academic associations with leading global B-schools and the backing of an influential Board, have helped the ISB fast emerge as a premier global Business school in the emerging markets. For details visit @ www.isb.edu

About IIMB

A leading research-focused business school in Asia with around 100 full time faculty members, more than 1200 students across various long duration programmes and nearly 5000 annual Executive Education participants, Indian Institute of Management Bangalore (IIMB) is located on a verdant 100-acre campus in India’s high technology capital, Bangalore.

IIMB’s long-duration post graduate programmes comprise the Fellow Programme in Management (FPM), the Post Graduate Programme in Public Policy and Management (PGPPM), the one year full-time Executive Post Graduate Programme in Management (EPGP), the Post Graduate Programme in Enterprise Management (PGPEM), and the Post Graduate Programme in Management (PGP). All these programmes are very highly rated and IIMB alumni occupy senior managerial and academic positions around the world.

Along with ten disciplinary areas and five centres of excellence that offer courses and conduct research on interesting questions facing various sectors of industry, IIMB has three faculty recruiting centres – the Centre for Management Communication, the Centre for Public Policy, and the N S Raghavan Centre for Entrepreneurial Learning.

Committed to make deep social impact using technology-enabled education, IIMB offers Massive Open Online Courses (MOOCs) through edX, a not-for-profit online initiative of Harvard and MIT that offers online courses from the world’s best universities. IIMB is the first management school in India to offer MOOCs on the edX platform.

IIMB is accredited by the EFMD Quality Improvement System (EQUIS). EQUIS is a global school accreditation system run by the European Foundation for Management Development (EFMD) that specializes in higher education institutions of management and business administration. For more information on IIMB, please visit @ www.iimb.ac.in

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Walking the Talk: Industry Recognition for MOOCs

The MOOCs sounds great, but will I get a job after completing it?’ is a typical question we, at the IIMBx MOOCs Programme, often hear when we talk about our Massive Open Online Courses and lifelong learning.

Converging Marketplace of Digital Learning Credentials

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Skills Marketplace: Picture courtesy
https://www.flickr.com/photos/photobom/36056608455/

The answer is ‘We are definitely getting there,’ and I say that for two converging reasons:

  1. Supply: Like any other consumer-driven movement, this recruitment world is also witnessing the slow (yet steady) onslaught of online credentials as students and professionals are acquiring skills through digital learning. With automation (threatening to) take away jobs in the 4th industrial revolution, skillset and workplace requirement are changing rapidly. Technology is perceived as the way to keep pace and secure a place in the workplace of 2030.

  2. Demand: Digital Learning is the #2 topic in the minds of HR heads, according to a recent report on Human Capital Trends. Requirement for nonlinear skills coupled with convergence of existing job roles into new ones is forcing companies to look for people with multiple skills and invest in digitally upskilling existing employees.

Micro Credentials for the Job Seeker

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Certificate: Picture courtesy Pixabay

MOOC Providers like EdX, Coursera, Udacity and FutureLearn are offering micro credentials and creating academic content to keep pace with the changing nature of industry needs. It could be argued that these programmes are better targeted to job requirements and possibly as worthy as degrees to a prospective or existing employer. Stackable credentials like MicroMasters and Nanodegrees are focused on jobs and are finding recognition with industry and employers. Coursera’s Learner Outcome Survey found that 84% of career-focused learners who completed courses reported career benefits and 18% started a new career after taking a MOOC.

The job seeker is ready, the credential is ready, are you hiring?

Yes! The IIMBx MOOCs Programme recently decided to walk the talk and got on board a Front-end Web Developer who proudly showcased his Online Nanodegree. Inayat, a young M.Tech. graduate who recently earned the Udacity Full Stack Developer Nanodegree is equally pleased and says,

I knew I needed something extra to get a job of my choice, something that would help me keep pace with the fast-growing tech world. Initially, I didn’t have much faith in online courses, but the journey has been amazing. And the outcome is that I got a job through it in the digital learning industry. I am going to focus on using my newly acquired digital skills in creating an IIMBx platform that helps many others like me. ”

Just as Netflix transformed the way people watched ‘TV’ shows, platforms like edX, Coursera, Udacity, LinkedIn and a host of others are unbundling the education, skilling, hiring and upskilling cycle. Are you ready to hire the ‘digital’ way?

Prof. U Dinesh Kumar publishes book on Business Analytics

Prof. Dinesh Kumar[7]

Titled ‘Business Analytics – The Science of Data-Driven Decision Making’, the book provides a holistic perspective of analytics with theoretical foundations and applications of the theory using examples across several industries

05 September, 2017, Bengaluru: A book titled, ‘Business Analytics – The Science of Data-Driven Decision Making’, authored by Professor U Dinesh Kumar, faculty and Chairperson, Decision Sciences and Information Systems area, IIM Bangalore, has been published by Wiley India Pvt. Ltd.

Written with the aim of becoming the primary resource for students of Business Analytics, this book provides a holistic perspective of analytics with theoretical foundations and applications of the theory using examples across several industries. The content of the book starts with the foundations of data science and addresses all components of analytics, such as, descriptive, predictive and prescriptive analytics topics which are discussed using examples from several industries, as well as nine analytics case studies distributed by Harvard Business Publishing and used by several institutes across the world. The book is enriched with 10 years of teaching experience of the author at various programmes in IIM Bangalore and several training and consulting projects carried out by him.

About the book: The book provides equal importance to theory and practice with examples across industries. The case studies provide a deeper understanding of analytics techniques and deployment of analytics-driven solutions. It has thorough coverage of topics such as basic probability concepts, probability distributions, hypothesis testing, multiple linear regression, logistic regression, decision trees, forecasting, clustering, prescriptive analytics, stochastic models and Six Sigma. The book offers real data sets for students to practice various analytics techniques and consists of discussion of analytics applications in industries such as banking and finance, eCommerce, healthcare, manufacturing, retail and services. It has multiple-choice questions at the end of the chapter which will ensure that the reader has understood the learning outcomes. The microsite of the book lists the datasets used in the book, and the case studies in this book are distributed through the Harvard Business Publishing (HBP) case portal.

The book has 17 chapters and the first few chapters are dedicated to foundations of Business Analytics. Introduction to Business Analytics and its components such as descriptive, predictive, and prescriptive analytics along with several applications are discussed in Chapter 1. In Chapters 2 to 8, basic statistical concepts are discussed, such as descriptive statistics, concept of random variables, discrete and continuous random variables, confidence interval, hypothesis testing, analysis of variance and correlation. Chapters 9 to 13 are dedicated to predictive analytics techniques such as multiple linear regression, logistic regression, decision tree learning, and forecasting techniques. Clustering is discussed in Chapter 14. Chapter 15 is about prescriptive analytics in which concepts such as linear programming, integer programming, and goal programming are discussed. Stochastic models and Six Sigma are discussed in Chapters 16 and 17, respectively. Each chapter is enriched with several solved problems, multiple choice questions, and exercise problems. Many chapters include case studies that will improve understanding of the concepts and enable students to understand how analytics is used by the industry.

About the author: Prof. Dinesh Kumar is also the Chairperson, Data Centre and Analytics Lab, an initiative of IIMB set up to support interdisciplinary empirical research using data on primarily Indian as well as other emerging markets, and Chairperson of IIMB’s Executive Post Graduate Programme in Management (EPGP). He holds a PhD in Mathematics from IIT Bombay. He introduced the Business Analytics elective course in 2008 to the Post Graduate Programme in Management (PGP) students at IIM Bangalore and started one of the first certificate programmes in Business Analytics in India in 2010.

Prof. Dinesh Kumar has over 20 years of teaching and research experience. He has published more than 60 research articles in leading academic journals. Twenty-eight of his case studies on Business Analytics, based on Indian and multinational organizations, have been published at the Harvard Business Publishing’s case portal. He has also carried out predictive and prescriptive analytics consulting projects for leading organizations. Moreover, he conducts corporate training programmes on Analytics for several companies.

Prof. Dinesh Kumar is the Founding President of the Analytics Society of India (ASI). He was awarded the Best Young Teacher Award by the Association of Indian Management Institutions in 2003. He is listed as one of the top 10 Analytics academics in India by the Analytics India magazine.

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Consulate General of Israel in Bengaluru and IIMB celebrate mutual collaboration for business and academics

In keeping with the rapid expansion of engagements between the two countries, plans for IIMB to deepen such ties were discussed during the luncheon celebration, which includes hosting an Israel Center at IIMB to build deeper understanding on issues of importance to both the countries

30 August, 2017, Bengaluru: The Consulate General of Israel in Bengaluru and Indian Institute of Management Bangalore (IIMB), organized a luncheon at IIM Bangalore, to celebrate the collaboration between the Consulate and IIMB for the development of business and academic ties between India and Israel, on August 6, 2017. Prof. Abhoy K. Ojha from the Organizational Behavior & Human Resources Management area of IIMB and Prof. Gadi Ariav of Tel Aviv University jointly hosted the event.

Prof. Gopal Naik, Dean Faculty, IIMB, welcomed all the participants and emphasized IIMB’s aspiration to deepen ties with universities and businesses in Israel. He also referred to plans to host an Israel Center at IIMB to build deeper understanding on issues of importance to both the countries.

Yael Hashavit, Israel’s Consul General to South India, stressed the need for India and Israel to strengthen business as well as people-to-people ties and appreciated the role of IIMB and Tel Aviv University in acting as vehicles to facilitate such ties. She expressed satisfaction in the rapid expansion of engagements between the two countries. Also part of the discussions were Asif Iqbal, President, Indo Israel Friendship Society, Ajay Nanavati, President, Grey Gurus Management Advisors LLP, Neena Gopal, Resident Editor, Deccan Chronicle and Dr D. L. Maheshwar, Vice Chancellor, University of Horticultural Sciences, Bagalkot and Shalini Elassery, Partner, Meivia Global Services LLP. All the participants highlighted the importance of such events and lauded the efforts of the people who are working toward forging stronger bonds between the two nations.

The event also provided the opportunity to bid farewell to Israel’s Consul General to South India, Yael Hashavit, who returns to Israel after concluding a short, intensive and successful term in Bengaluru, which includes a close and useful associaltion with IIMB.

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Yael Hashavit, Israel’s Consul General to South India, lauds the role of IIM Bangalore and Tel Aviv University in acting as vehicles to facilitate business and people to people ties between India and Israel.

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Prof. Gadi Ariav of Tel Aviv University, addresses the audience during the luncheon celebration at IIM Bangalore on August 6, 2017.

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Prof. S Ramesh Kumar’s book ‘Consumer Behaviour: The Indian Context (Concepts and Cases)’ published

Prof.-Ramesh-Kumar

Prof. S Ramesh Kumar

A revised version of his earlier work, the new book reflects rapid changes in the Indian and global markets, and the valuable feedback received from subject matter experts, students and working professionals engaged in the discipline

02 August, 2017, Bengaluru: A book titled, ‘Consumer Behaviour: The Indian Context (Concepts and Cases)’, authored by Dr. S Ramesh Kumar, Professor in the Marketing area at IIM Bangalore, has been published recently, by Pearson Education. This is a revised version of his earlier book titled, ‘Consumer Behaviour and Branding: Concepts, Readings and Cases – The Indian Context’, which needed updating given the developments in the realm of digitization, cultural scenario and in consumer decision-making witnessed in the last two or three years.

About the book: The text in the revised book has been holistically updated to reflect rapid changes in the Indian and global markets, and the valuable feedback received from subject matter experts, students and working professionals engaged in the discipline.

The updated book draws special attention to:

    • New examples to reflect changing lifestyles and consumer decisions

    • Extensive discussion on digitalization and consumer behavior

    • Strong conceptual base that stimulates the thought process of the readers

    • Specific applications to illustrate the practical usefulness of concepts

    • Indian cases that have been drawn from real-life brands

    • Attractive visuals of brands to illustrate the concepts discussed

About the author: Prof. S Ramesh Kumar, who is also IIMB Chair of Excellence, has a mix of industrial and teaching/research experience of over 30 years. His areas of interest are exploring the application of marketing/consumer behavior concepts to the Indian context. His specific research interests include Branding-Consumer Behavior Interface, Cultural Dimensions in Marketing, and Consumer Behavior-Digital Marketing Interface. He has also adapted the 11th edition of Consumer Behavior by Leon Schiffman and Joseph Wisenblit. He has published articles and case studies in reputed journals (national and international), business magazines and business newspapers. His international publications include papers in refereed journals of repute, which are known both for their academic rigor and practice orientation.

He teaches in the postgraduate, executive management, and research fellow programmes. He has developed courses at the postgraduate and doctoral levels. He has also co-authored and published several real-life cases associated with reputed organizations in the Indian context.

He was awarded the ICFAI Best Teacher Award by the Association for Indian Management Schools (AIMS).

Prof. Ramesh Kumar has presented papers in many international conferences. He has been an invited speaker and visiting scholar in universities abroad and has delivered special lectures on marketing in the Indian context. He has conducted a number of training programmes for corporate executives in Indian and multinational organizations.

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NSRCEL at IIMB hosts workshop for educators

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As part of its Customer Connect initiative, N. S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), the start-up incubator of IIM Bangalore, organized a workshop on ‘Inspiring Educators in Digital Age’ on July 26, 2017.

It was a collaborative effort by NSRCEL and ‘Mantra for Change’ -– a social venture focused on school transformation. The workshop format was interactive with brainstorming sessions and ideating discussions with 28 educators and school leaders from schools across Bangalore and Mysore.

The assembly line, the break bell, the homework and the favourite teacher… how often do we really miss those carefree days of school? Almost every day – given the stressful adult lives today! For all the positives in the school as a workplace and teaching being a noble profession, the job requires immense motivation.

Career growth, inspiration, gratification and respect for teachers were discussed at the workshop. Some actionable ideas surfaced, as a result of all the brainstorming. These included:

Skill mapping of teachers, and opportunities for them to attend skill enhancement workshops

Adopting ‘Teacher of the Month’ and similar initiatives to recognize and reward the effort of teachers

Creating a more inclusive environment for their career growth and progression

Participants and organizers alike left the room noticeably energized and enthused with the idea of implementing some of the ideas that were discussed during the workshop. NSRCEL will continue to support these educators and start-ups making a positive impact in the education sector.

Going forward, NSRCEL aims to take up more initiatives to help women entrepreneurs connect with the innovation ecosystem and markets, and build networks for successful growth of enterprises. Stay tuned for more Connect stories.

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CUTTING-EDGE RESEARCH BY FACULTY OF IIM BANGALORE

Faculty members at IIM Bangalore generate knowledge through cutting-edge research in all functional areas of management that would benefit public and private sector companies, and government and society in general. The knowledge generated by IIMB faculty appears in leading academic journals with high citation index and impact factor. Many textbooks and working papers are written on a regular basis. Research carried out by IIMB is used to augment new courses and executive education programmes.

Journal of Economic Theory

Vol. 158, Part A, July 2015, pp. 232-258

Paper Title: Dynamic choice in a complex world

Abstract

We consider an environment in which a Decision Maker (DM) finds it sufficiently complex to even describe the state space, let alone guess the parameters of the underlying data generating process. He is therefore unable to use the standard Bayesian methods. Instead, at each moment in time, the DM constructs a preference relation on the set of available actions based on their past performance. We postulate a set of axioms on this family of preference relations indexed by histories (of rewards). Two key conditions, a typical dium; Exchangeability axiom and another labeled Consistency, that constraints the DM not to update her preferences after certain events (loosely based the “the principle of insufficient reason”), characterize thumb rules for ranking actions that are akin to the familiar fictitious play in game theory. Moreover, if in fact the stochastic process that generates the rewards is exchangeable, a DM that obeys our axioms (almost surely) cannot be distinguished in the long run from one that is fully cognizant of the environment and satisfies the expected utility hypothesis. The main result requires proving a representation result on multisets which may be of independent interest.

Journal of Economic Theory

Journal of Economic TheoryQR

Written by,

Murali Agastya, Indian Institute of Management Bangalore.

Read More @ Journal of Economic Theory