I had attended the GD PI on 6th Feb 2016 at ITM Bangalore for PGDM 2016. As mentioned in the call letter I had all the documents except the Demand Draft of Rs. 25,000. I had informed this to the faculty member before the commencement of the GD & PI. However he let me proceed me with the selection process, but after the completion of the selection process he told that the results would not be communicated to me until and unless I deposited the Demand Draft of Rs. 25,000. I tried to convince him that once the result is communicated I would take the decision to whether or not join the institute and deposit the Demand Draft of Rs. 25,000. As mentioned in the call letter. But then the guy who let me attend the GD & PI backed off saying that - he clearly said results will not be communicated, which he had not. At the same moment he challenged to verify that he had said about not communicating the results by calling all other students present during the initial period of GD & PI. I agreed on this point to confirm what he had said by asking other students. But to my amazement the director shut me up saying that this is not needed because she trusts his faculty member and asked me to literally get out of the college. I requested for a better explanation but the college director refused and started talking about guidelines that these information were clearly mentioned in the terms and agreements and the call letter issued to me. I even imposed this that if they were really following guidelines then according to it I, in any case, should not have been let to attend the GD & PI without out submitting the Demand Draft of Rs. 25,000. But they were not able to give me a justified answer and behaved in a very rude manner asking me to get out of the college. It is not only one college that a students look for while applying for a MBA/PGDM program and none of the colleges ask for any monetary transactions before announcing the results of the selection process. Is it that education is less important and money is more. Not to mention the fact that the scholarship results have yet not been announced and the college wants the students verdict in an hour. It has caused me a lot of pain to see such a good institute treat a student like this.
Employees not only want good pay and benefits, they also want to be valued and
appreciated for their work, treated fairly, do work that is important, have advancement
opportunities, and opportunities to be involved in an organisation.
Recognition and rewards play an important role in work unit and agency programs to attract and retain their employees. It is the day-to-day interactions that make employees feel that their contributions are appreciated and that they are recognized for their own unique qualities. This type of recognition may contribute to high morale in the work environment. Recognition is a leadership tool that sends a message to employees about what is important to the leaders and the behaviors that are valued. Managers can use this tool to help employees understand how their jobs contribute to the agency's overall goals and how their performance affects the achievement of those goals. Rewards and Recognition also helps as a retention mechanism which In turn helps curb attrition rate.
Recently Infosys CEO Vishal Sikka has gifted 3000 of his top performing employees with iPhone 6 and also wrote a letter to all his employees appreciating and thanking them for their contribution in making Infy a market leader in 2014. And also HCL Technologies offered foreign trips and Mercedes Benz cars to 130 of its top performing employees.
Recognition can be delivered in a number of ways including a "pat on the back" for the job well done or to "Thank" an employee for his contribution to a project or organisation.
The rewards should be SMART.
.Sincere. Above all else, a good reward should reflect a genuine expression of appreciation. Token acknowledgements leave something to be desired.
.Meaningful. To endure a motivating influence, rewards should be aligned with the values, goals, and priorities that matter the most. .Adaptable. The diverse workplace demands alternatives. Consider creative options to keep your program fresh. No single reward format works for everyone all the time. [Recognition should be adapted and valuable to the receiver.]
.Relevant. Some personal dimension is essential to a good reward. No matter how formal or informal, expensive or affordable, the relevance of any recognition will be improved with a personal touch - - it's a little thing that makes a big difference. [Recognition should be provided by someone of significance to the receiver.]
.Timely. It is important that rewards respond to the behavior they are intending to reinforce. Don't let too much time pass or the reward may be devalued and credibility eroded.
To ensure that employees tie recognition into the work unit or agency's strategic goals, be certain to tell employees what they did right and how it interacts with the goals. Include supervisors and employees in the development of your recognition program to represent the values and goals of a diverse cross-section of the work unit or agency.
For many employees, recognition received through the expression of genuine appreciation for the work they do is a reward. Being involved in a project or receiving special training may be another's reward.
In developing a program incorporating gifts or prizes it is possible to cause harm as there is a large audience which do not receive these rewards, hence the rewards and recognition program must be carefully formulated.
Prof. Aruna Kulkarni
Department of HR
ITM Business School - Bangalore
On the back drop of free falling international crude oil price from $115 per barrel in June 2014 to $51.50 per barrel in January 2015 coupled with expectation of another Eurozone crisis due to fiasco in Greece, the global stock market tumbled taking its toll on the Indian bourses as well, pulling the SENSEX and Nifty down by 855 points and 250 points respectively. Last week on 6th January 2015, the Bombay Stock Exchange(BSE) and the National Stock Exchange(NSE), both registered 3% plunge, the biggest crash in last 6 years. The domestic oil producing companies, oil marketing companies and refineries eroded 36,500 crore ($6billion) of market capitalization on a single day. The worst hit are shares of ONGC which crashed 6% down losing 18,000 crore($3billion), shares of Cairn India slipped down by 3.5% wiping out 1,600 crore market capitalization and Oil India shares also fell by 5% reducing 1,600 crore market capitalization in a single day. Shares of Reliance Industries(RIL) also plummeted by 5% losing 13,264 crore($2billion) of investors wealth whereas shares of HPCL,BPCL and IOC fell by 1% wiping out 1,700crore of combined market capitalization in a day. Asian market slumped as Nikkei plunged by 2.6%, S&P 500 fell by 3% since December 29th, 2014 due to beleaguered energy shares, UK FTSE 100 Index dropped by 1.14%.
The story goes way back to 1960 when Organization of the Petroleum Exporting countries (OPEC) aimed to set uniform petroleum price which in turn affects the global oil price. Currently, there are twelve OPEC countries including Iran, Iraq, Saudi Arabia, Venezuela, United Arab Emirates. North America and Russia are the major source of oil output outside OPEC countries along with other booming areas for new energy companies. From 2011 to 2014 the crude oil price hovered around $100 per barrel as there was soaring demand in United States, China, India and other countries. United States and Canada started exploring alternatives resulting in North America producing ample crude oil. US import of crude oil was reduced from 60% to 30% from OPEC countries. Total oil production from Russia, North America and OPEC countries supply gut. This is magnified by slowing global economic growth in consuming countries like China, Japan, India and US. Saudi Arabia and other OPEC countries in a meet in November 2014 chose to cut down oil price instead of reducing production by 400 thousand barrels per day to hold the market share. Natural gas utilization and increased energy efficiency are added factors to reduce oil's market share. Hedging of oil price by fund managers in anticipation of further rise in oil price compelled them to liquidate their position in falling market. All these factors taken together caused free fall of international oil price by more than 50%.
India imports two third of its oil consumption around 190 million tones of crude oil which costs major part of our country's import. With every dollar decrease in oil price, India saves 4000 crore with current consumption. Thus with fall in oil price, India arrests the Current Account Deficit(CAD) and acts favorably to keep the inflation low and curtail fuel subsidies.
On one hand falling price created havoc on oil producing countries such as Russia and Venezuela and on the other hand oil consuming countries with weaker currency stand to gain in the long run in spite of erosion of market capitalization.
Prof. Debdatta Ghosh
Department of Finance
ITM Business School - Bangalore
Successful people have a social responsibility to make the world a better place and not just take from it.
Social activities undertaken by the ITM Business School Bangalore Student team.
A cricket match was organised between seniors and juniors on 7th December. It had a nail biting finish in which seniors won.
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The finest gesture one can make is to a save life by donating Blood! The students and faculty members of ITM BUSINESS SCHOOL BANGALORE joined hands with HDFC and Lions Club to help the needy by organizing a BLOOD DONATION CAMP on 4th of December at our campus!
BRAND MOKSHA @ ITM Business School Bangalore on 28 November 2014....the potpourri of sheer genius, masti with a tinge of madness made this show even more spectacular. With events to set the brains of contestants buzzing in the arena of Quizzing, Corporate strategy and Inceptra to name a few. The icing on the cake being the panel discussion on the theme "E-Commerce" By MR AAMER AZEEM (Managing director with Cisco), ADITYA PRASAD (alum ITM Bangalore and head of Perfios), SOUMYAJIT DEY (alum of ITM Warangal with IBM), VIJAY REGO( Digi specialist)...left the audience gasping for more, in the end we hope that the 300 footfalls on our campus attained "MOKSHA"!!!!!!!!!
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Scholarships at ITM Bangalore
An Educational institution has a pivotal role to play in building the Core Competencies as well as the Foundation of the Student, strengthen the community around and the Country at large therefore it is a job of tremendous responsibility when the stakeholders of that Institution are slated to perform myriad roles as in case of a business school like ITM Bangalore.
To encourage Meritorious Students ITM Business School offers a wide range of scholarships, the majority of which are available to successful applicants who apply in early Stages of the Admissions schedule. Funded by ITM Trust, it is the Chairman's Dream to encourage Students who have the Gift of Grades but probably not the background to finance their Dream. An Altruistic Philanthropist Dr P.V Ramana has a penchant for helping students who have the Passion and the Gumption to be Future Game Changers of tomorrow. The student who crosses the threshold of our B School inculcates all the qualities which are the Requisites of a true Management Professional.
For any further information on Scholarship, ask your query here
At ITM Bangalore we recognize that latent talent can be sculpted only by the perfect blend of business awareness and corporate exposure. To foster the same we have constant interactions with various business leaders and global managers from the corporate world which makes the students Corporate Ready. The Life Skills that we impart and the Plethora of activities we undertake opens up vistas for creativity and innovation in our Students. The PGDM program at ITM B is extremely comprehensive and intensive and customizes the Teaching Pedagogy in order to reach the Individual's Psyche.
In a World where change is a buzzword and innovation and Sustainability is the basic necessity, ITM Bangalore teaches its students to ingrain innovativeness as a way of thinking that governs every aspect of their thought process thereby converting them into Managers Par Excellence. The Curriculum is crafted with an Eye to Detail under the guidance of leading Industry Giants and the Academic Gurus. The Institution enjoys complete autonomy, both Strategic and Financial which enables us to be a step ahead of our Counterparts.
ITM Bangalore Students are a combination of the Right Attitude, combined with the Requisite Skills and are equipped with Intensive Knowledge. The students are nurtured in a vibrant cosmopolitan culture in and it is this very competitive spirit and all round Development that gives them an edge over their Peer Group. We strongly inculcate and instill high level of Morals and a good Value System preparing them to be Ethical Leaders of tomorrow.
The team of Aditya Madan - Umesh Lakhmai (Marketing) and Surendra Saud - Akash Kunikullaya participated in the Fest organized by RV College and stood 2nd in both Marketing and Finance events respectively out of 30+ teams. A proud moment for ITM Bangalore.For more information visit -
We warmly welcome you all to our Marketing event "Brand Moksha" on the 28 November 2014.This is an inter College Management Fest for students across Bangalore in the Marketing domain with Unique Brand Events and as part of the same we have also organized a Panel Discussion where industry experts across different Genres would converge and Deliberate.The Stalwart chairing the Session is Mr Aamer Azeemi Managing Director Cisco Systems, 2 Esteemed Alumni and a Digital Marketing Expert.The theme being E-Commerce and its Future......SO BE THERE TO ATTAIN "MOKSHA"