Top 3 Things that Impacted Indian Economy

In the past 5 years, Indian economy has seen a lot of ups and downs; from the shock of demonetization to the landmark GST implementation, Indian economy has seen it all. The year 2018 becomes all the more important for Indian stock markets as the country prepares for election in 2019. Let’s take a look at the three landmark events which have impacted Indian economy.

Demonetization of Rs 500 and Rs 1000 notes  

 

 

 

 

 

In the year 2016 on November 8th, Prime Minister Narendra Modi has announced his decision to withdraw Rs 500 and Rs 1000 bank notes to initiate a crack down on black money. As a replacement, the government issued new Rs 500 and Rs 2000 rupee notes. In the next few weeks, RBI introduced quite a few rules associated with withdrawal limit, money exchange and deposits. Raids were conducted and the national banks were scrutinized. According to many,  it was one of the boldest financial reforms and the government claimed that it would bring long-term benefits. The response of demonetization was mixed as many questioned about the effectiveness of this event.

The Passing of the GST Bill

 

 

 

 

In a unanimous decision,  Rajya Sabha approved the 122nd Constitutional amendment to turn Good and Services Tax into law. Before GST, most businesses had to pay 3 different taxes – VAT, excise and service tax. With the implementation of GST, there was uniform taxation across the country. With this reform, the big enterprises attained the same footing with SMEs. The entire idea of GST was to simplify the tax complications of the entire economy. All services provided by the educational institutions both schools and colleges are exempted from GST. Along with healthcare, this is one sector which has been put within minimum or zero tax bracket.

The Frauds in the Banking Sector

 

 

 

 

The Indian banking sector has lost about Rs 18, 170 crores in forgery in the financial year 2017-18. Some of the top banks like PNB, Bank of Maharashtra, HDFC and ICICI faced a large number of frauds. This completely altered the face of the economy and called for an urgent requirement to tighten the internal financial controls. Most importantly, there was a call for better audits; the process gaps need to be addressed and emphasis was put on continuous rationalization checks and balances.

The next year is expected to be peppered by political anxiety due to various state elections in 2018 and general elections in 2019. The economy will remain jittery due to surge in global oil prices . Only time can tell how India plans to cope with these external pressures.

 

 

5 Ways to Make an Impeccable LinkedIn Profile

There are over 467 million members in LinkedIn and it is a growing network: do you think it is easy to stand out? A complete profile with good connections and a list of accomplishments may not be enough to grab the attention of the recruiters. Here are 5 creative ways to make a good impression after acquiring a degree from a reputed management college in Kolkata.

Go for a descriptive headline: use specific words

Use strategic keywords for your LinkedIn profile which will attract the right kind of connections. You have to proactively edit your headline; otherwise your current company and title will be displayed by default. This is not the kind of branding that you look for, as it will brand your company and not you. Include details such as functional expertise or your industry. The description should be such so that anyone can fathom things about you with a quick read. Like Manager of Sales is how you excel, more specific would be Manager of Sales, Digital Marketing and Social Media. This small addition will expand your network and help you to reach out to prospective employers.

Are you using the Plugins effectively?

Often simple things like plugins on LinkedIn are overlooked. Did you know that LinkedIn allows its members to include the LinkedIn function in websites? A customized JavaScript code is generated for a number of interesting features which ranges from your followers to a list of new job listings. The Follow plugin is extremely useful for websites as it allows the visitors to add you to their LinkedIn profile with one click. In case of business, the Company Profile plugin offers a reliable summary of the business. This appropriately-sized widget is a quick way to get new readers and enhances the scope of business.

See if the career chronology matches your resume

When you list a job on your resume, you need to list it in your LinkedIn profile as well. In case you want a complete career chronology in LinkedIn, match it with your resume to ensure consistency. Include all your previous employments in your LinkedIn profile: it definitely improves your chances of appearing more in searches by both people who wish to network with you and recruiters.

Did you know that you can personalize your LinkedIn URL?

Did you know that you can actually customize the LinkedIn URL attached to the profile to make it in your name? Your URL will appear more personalized instead of a set of random letters and numbers. This is a significant touch which has a few advantages: when shared with your recruiter, your profile looks clean. Once you include the customized URL to your email signature, it essentially reinforces your brand.

Emphasize on the summary

A summary which highlights the background with searchable keywords is a good start; you can maximize the summary further with a standalone description. You can play around with the tone of storytelling: often a more casual tone emphasizing on your career expertise can be really helpful. Add a tone of interest by including not just the current role, but list your personal accomplishments and key skills to round out the background.

Eager to know more about a business school which can accelerate your career? Take a look at https://www.bibs.co.in/.

5 Ways MBA can Boost your IT Career

A recent news flash: an Army Major who has served the Indian Army for the past 17 years decides to go for an MBA program in business school where he surprisingly finds a retired IG of Police among a bunch of 23-year olds. As choices and needs triumph over stereotypes, we find more and more professionals opting for business ‘school’ after considerable work experience. Like most IT professionals feel the need of an MBA degree as it helps them to support the business goals of an enterprise. The IT leaders who mostly report directly to the CEO or CFO supervise critical projects. Seeking an advanced business degree is a good option in this regard. Let’s see how an MBA can boost your IT career.

Think about the value of a MBA degree

After you receive your MBA degree you will be widely recognized as an IT wizard and a business expert. You will find yourself in equal footing with various C-level executives: your opinions and insights will be invaluable for your business. According to experts, an MBA degree helps an IT leader to understand the requirements of business and come up with solutions which will be beneficial for business in the long run.

A degree which works as an effective career management tool

An MBA degree definitely impacts the employment trajectory of an IT professional. When it comes to recruitment in senior levels in an organization, a IT guy with an MBA degree is always preferred. An MBA degree adds to the broader skill sets of a tech-savvy guy; moreover it opens doors of opportunities for candidates. With an MBA degree, you get a coveted position in your desired organization. Even when you think about working in a start-up, a degree in management will come handy. Think about jobs for MBA in Kolkata, and you will find most candidates acquire the MBA degree to seek better opportunity.

Learn about important analytical and business skills

Things that you will learn while pursuing a management degree will help you in day-to-day activities. You will have valuable knowledge about strategy, accounting, finance and this knowledge will prepare you for a new role with greater responsibilities. Added to this, one has to remember that digital transformation is actually forcing IT professionals to look deeper into the needs and requirements of your business partner. The combination of business skills and soft skills is enviable and helps an organization to prosper: a professional equipped with both will be considered as a asset.

Greater satisfaction in terms of income

It is an undeniable fact that once you choose the right management course in Kolkata, you will be better positioned post management. A better position equals good pay package. Most IT professionals use MBA as the springboard for senior-level roles which have higher income potential. Experience will definitely give you a leverage: but a professional degree will take you further.

A degree which shows that you are committed to profession

Most decision-makers are impressed with the idea of a person who is gutsy enough to pursue higher education after gathering work experience. There is a great deal of respect for individuals who do the hard work to obtain a management degree while juggling job and other responsibilities. This shows that you are committed to your profession.

Want to know more about a business school which can make a difference to your professional career? Check out https://www.bibs.co.in/.

Do you Need an MBA for a PR Job?

Can an MBA make a difference for a PR job? This is a question often asked by numerous PR professionals. An MBA degree offers unmatched networking opportunities; in a crazy competitive world, an MBA degree will help you to have leverage as compared to your peers and competitors. Still not convinced? Take a look at some of the benefits of having an MBA degree if you are holding a PR job.

Helps you to acquire analytical and critical thinking

Often PR professionals have a lack of understanding of business goals; an MBA degree helps to drill business goals in a PR person. This degree will help you think beyond the usual metrics of the business world and get a broader picture of how business functions. Most PR professionals have entertained the thought of running their own business, consultancy or agency. Other than your PR skills, you should have the skills to read a balance sheet, manage change, think about the operational expenses, and have sound HR policies. You can learn all these on the job; but an MBA degree will help you to acquire the expertise in a short time.

Helps you to grow your network

An oft-mentioned benefit of having an MBA degree is that it helps you to have a solid network. Now you may argue that even a non-MBA person has a huge network but it will be nothing as compared to what you might have after you enroll in a prestigious business school. With a solid network, one can chance upon PR-specific business opportunities which might not happen otherwise. Talk to people who have already made the leap from the communications field to MBA and you will know about the endless possibilities. Those who are not willing to start their own business can go for management positions after an MBA course, which might be a difficult to achieve otherwise.

Helps to understand your life goals

Those who plan to continue with an agency should rethink about an MBA degree. Most agencies hire creative problem solvers; but on the corporate side higher-education and MBA degrees are known as qualifiers for senior-level management positions. You will hardly find anyone in a senior leader position without a management degree. Those who want a senior position in the corporate world should and must go for the MBA degree.

Think about all these pointers and try to get an MBA degree when you still can. There are greater and better career opportunities waiting for you to be explored.

What you Need to Know before you Begin your Career in HR?

There was a time when human resources were primarily known as ‘paper pushers’; they were mainly considered as the document keepers in the organization. HR departments these days are extremely dynamic and they play a vital role in the talent development strategy of any business. Although an HR may wear different hats these days, the department still remains obligated to one of the most valuable assets of an organization: its people. If you are starting a career in HR after pursuing an MBA degree, these are some of the functions you will be expected to perform.

HR Leaders are the best Solution Providers

Some of the best and most impressive HR leaders are known to solve not only business goals, but are driven by a basic desire to positively impact the lives of the employees of an organization. An HR leader can definitely help in the business by driving change with both data and passion. Most people choose a career in HR precisely because this department gives them an opportunity to influence various aspects of an organization. When it comes to company policy, an HR manager is definitely one of the effective decision-makers in the company.

HR Leaders are Knowledgeable about the Core Business

HR managers who work in a business unit which supports the core business of a company should definitely know everything about the business. As you learn your own responsibilities in an organization, you should also learn about all the nitty-grittys of business. If your company is a small and growing at a fast, often it becomes extremely difficult to stay on top of everything. As a HR manager, your capability lies in understanding the employee psychology and how it can be aligned with organizational goals. Of course, there are some things that you can do to maintain employee satisfaction and company culture. You can start a small reward program where employees are recognized for their contribution to the company. How do you resolve a conflict situation? It can become difficult to define everything in a fast-growing organization. The process of resolving a conflict or the procedure of collaboration will definitely differ and vary. Effective communication might be the key.

HR Leaders Foster Transparent Internal Communications

How can an HR leader ensure that communication is mostly transparent and always done on time, especially when it is crisis communication? Good news travel fast, so if the company is doing well or there have been some positive changes in the organization, your employees will get to know that even before the news bulletin is out. When it comes to communicating bad news or any type of change, the best way to do it is go for honest communication in due time. This information should reach those people who are going to be directly affected by this change. A good HR leader never underestimates the fact that honest information shared in due time can save the day.

Is Doing an MBA after Work Experience a Better Deal?

Now that you have completed your graduation, you are on threshold of taking some important decisions in your life. Chances are that you may not be sure whether you should go for an MBA or join an organization for gathering experience. There are actually quite a few who are stuck in this similar situation. Finding it tough to choose between the two? Are you asking the question; can MBA after work experience help me to further in my career? Let’s find out.

Confident about what you need to do

During those 2 glorious years of your MBA course will have the opportunity to interact with students from NIITs, IITs, and NIFTs. If you do not have an equivalent brand name in your resume, at least work experience of two to four years will give you the much-needed confidence to take on the world. Your work experience will compensate your brand value. An MBA degree is not only about theoretical knowledge, but also about practical applications. In case you have worked in a designated field for some time, it will be easier for you to cope in an MBA class. Certainly you will be in a better position than your peers.

Clarity about your future endeavours

If you get into MBA right after your graduation, it may be hard for you to choose a major at the end of the first year. Students might have a general idea about most of the subjects, but experienced students definitely know better. A student who has already worked for two to three years before applying for MBA will definitely know about his/her strong areas; he or she will have clarity regarding the major. Also, the exposure to the corporate world helps him to take better informed decisions.

Better financial stability

If you already have work experience, you are likely to know how expensive a business school can be. When you enter the workforce just after college, as a candidate you will have more financial stability both during and after business school. For some MBA programs you may require a solid amount of work experience in your resume. Even when it is not the case, business schools often assess candidates on a number of factors. Having work experience will give you leverage before other applicants. Most candidates with previous work experience are preferred not only by B schools during admission, but they are a favourite with recruiters as well.

In other words, your work experience will be helpful as you will naturally develop skills which can be more specialized than an MBA degree. An MBA is a qualification which will allow you to have flexible business knowledge. If you have the opportunity to grab both at once, then why not?

Making a Business Pitch: Top 3 Things to Know

What makes a pitch excellent and sets it apart from the rest? It seems that some of the best pitches share some essential qualities and if you include those points in your pitch, it may stand a chance with the investors. A great pitch can bring valuable partnerships on the table; and along with the partnerships it will bring some valuable financial incentives. Let’s talk about the top 3 things that make a business pitch effective.

Do your homework well

Before making the final presentation, you must do your homework well. Gather information about your investors from all possible sources like social media accounts, company profiles and study the bios of every single person who will be present for the presentation. You need to adapt your business pitch according to your investors.

The first few minutes of the presentation is extremely crucial. Always remember that it is easier to keep momentum with a good pitch than straightening out a bad pitch. If possible, begin with a real customer story where the problem was solved due to your service or product. Use real names with real customer challenges; keep it simple . People always remember stories, so if you pairing your pitch with a story, you stand in an advantageous position.

Practise makes a man perfect

The adage is true for a business pitch as well. Practise your business pitch before real people before appearing before the investors. Refine your pitch so that people are compelled to listen to you with rapt attention. While practising, if you find someone who could not grasp what you are communicating, it is time to make a few changes. Ask them to repeat about your business model and what they think about the entire approach. You will know where you stand. Your business model should be able to define clearly how your idea is economically viable; your business model should be able to answer what you sell, to whom you sell, how do your customers pay you and how much do they pay you.

Address your competition

During a business pitch you should never say that you ‘do not have any competition’. This is a huge mistake, because everyone has competitors even if it is an indirect one. One of the most effective ways to illustrate your competitive landscape is by creating a matrix format to present the differentiators. Your potential investor should have a clear picture of where you stand and how you propose to be different from your competitors and peers.

Think about these three points carefully before making an actual business pitch.