Bharatiya Mahila Bank – A Step towards Economic Empowerment of our Women

Mamta Sharma

Faculty, Surya School of Business Management

 

Bharatiya Mahila Bank Ltd is the first of its kind in the Banking Industry in India formed with a vision of economic empowerment for women. The Bank was inaugurated on 19 November 2013 by Hon’ble Prime Minister of India, Dr. Manmohan Singh and Smt. Sonia Gandhi, Chairperson, UPA.

The Bank’s twelve branches one each in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Lucknow, Ahmadabad, Guwahati, Indore Chandigarh, Dehradun, and Raipur are currently operational. The Bank will also open branches in all the State capitals and rural areas in a phased manner. Bank is also planning to open 16 branches in next four months

The Bank’s initial capital consists of Rs 1,000 crores. The government plans to have 25 branches of the said bank by the end of March 2014 and 500 branches by 4th year of operation (2017).

US-based FIS Global, in partnership with Wipro is leading the race for a Rs 1,000-crore contract to provide IT systems at the country’s first women-focussed bank.

Although initially reported as a bank exclusively for women, the bank will allow deposits to flow from everyone, but lending will be predominantly for women. India will be the third country in the world to have bank especially for women. Pakistan, Tanzania already have an exclusive bank for women.

The opening of this bank inspire people with entrepreneurial skills and, in conjunction with NGOs, plans to locally mobilize women to train them in vocations like toy-making or driving tractors or mobile repairs. This also focuses on the banking needs of women and promotes economic empowerment.

 Surya World- Institutions of Academic Excellence also exemplifies women empowerment, wherein many high positions are held by women and girls are also given benefits at the time of admissions.

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The Value of Industrial Visits

Upasana Goyal

Faculty, Surya School of Business Management

“Nothing ever becomes real till it is experienced”- John Keats

Industrial visit is a part of the educational tour as well as professional course, during which students visit companies and get insight of on the internal working environment of the company.It provides students with an opportunity to learn practically through interaction, working methods and employment practices. Moreover, it gives exposure from an academic point of view. Industry visits sensitize students to the practical challenges that organizations face in the business world. Industrial visits also give greater clarity about various management concepts for students as they can practically see how these concepts are put into action.By visiting the shop floor they get to understand the risky conditions in which workers work, the people management challenges involved in managing workers apart from getting hands-on technical knowledge.

KEY BENEFITS TO STUDENTS

The student involvement at all stages of the industry visit motivates them and helps them take full advantage of all learning opportunities presented. This brings a different dimension to students’ learning, which they cannot gain in the classroom as well as helping to bridge the gap between industry and academia.

  • Exposure to better industrial and business practices in progressive economies.
  • Get to know  business skills in a global context encouraging cultural interaction
  • Visits to manufacturing firms are useful for students to understand the nuances and realities of the shop floor, which in itself is a rare exposure.

Every year Surya World organizes industrial visits of students for enhancing their knowledge regarding different kind of fields. It provides confidence as well as overall personality development to the students. An industrial visit was recently organized by Surya School of Business Management, for the students of MBA, BBA and B.Com to Kudos Chemie Ltd.(Manufacturer of Caffeine Theophylline and other Chemicals), Derabassi. The students learnt about the production and operations management in Kudos Chemie Ltd. The company also has their own school for the village children and the socially suppressed backward caste people, arranged medical camps, blood donation camp etc, which enlighten their Corporate Social Responsibility (CSR).

 

Hard Work: A Way to Reach New Heights

Ruma Mehta

Faculty, Surya School of Business Management

Hard Work is a key to achieve success and good results in near future. It always pays off. A person who is hard worker gets an opportunity to reap off the benefits of his/her uphill struggle.

There is a beautiful quote given by Thomas Edison:

“Genius is 1% inspiration and 99% perspiration. Accordingly a genius is often merely a talented person who has done all of his or her homework.”

Through the above inspirational quote it is clear that genius can do anything and everything in his/her life in order to get satisfaction.

Human life is full of twists and turns. One must work efficiently and effectively in order to get out of it. Hard work is the only means to achieve an end. It is the way to overcome various obstacles. One should believe on the fact that “Karam karo, phal ki icchha mat karo as it will only assist them to grow and strengthen their position.

Surya World as an institution  award various students who work hard for their exams and achieve success by getting one or the other position both at university or institute level.  It’s not only academics but at technical and cultural level also students are honored for their accomplishment.    On 22nd March, 2014, Annual Convocation was held at Surya World, when more than 250 students were awarded their degrees  for putting their efforts and hard slog. This helped them   to get message out of it that hard work always pays and it’s never wasted. Believing on the fact scholars will try to prove themselves and give positive representation at their end in coming future.

PARTICIPATIVE DECISION-MAKING

Sarveer Kaur

Faculty, Surya School of Business Management

 Participative decision-making (PDM) is the extent to which employers allow or encourage employees to share or participate in organizational decision-making. PDM is one of many ways in which an organization can make decisions. Participative management (PM) is known by many names including shared leadership, employee empowerment, employee involvement, participative decision-making, dispersed leadership, open-book management, or industrial democracy. The basic concept involves any power-sharing arrangement in which workplace influence is shared among individuals who are otherwise hierarchical unequal’s. Such power-sharing arrangements may entail various employee involvement schemes resulting in co-determination of working conditions, problem solving, and decision-making. However, organizations benefit from the perceived motivational influences of employees. When employees participate in the decision-making process, they improve understanding and perceptions among colleagues and superiors, and enhance personnel value in the organization.The outcomes are various in PDM. In the aspect of employees, PDM refers to job satisfaction and performance, which are usually recognized as commitment and productivity. Decisions are made differently within organizations having diverse environments. A PDM style includes any type of decision transfer from a superior to their subordinates. Decision makers cannot be experts in all fields. In such situations, the decision maker delegates full or partial responsibility of decision-making for a particular area of concern, to the expert on the team for best management outcomes. The participative leader retains the responsibility of final compilation of the draft responses from all. Such delegation is work specific and singular. It depends on the decision maker to compile the expert reports for the final response. Advantages of this type of decision-making process makes the group members feel engaged in the process, more motivated and creative. In an autocratic participative decision-making style, similar to the collective style, the leader takes control of and responsibility for the final decision. The difference is that in an autocratic style, members of the organizations are not included and the final outcome is the responsibility of the leader. This is the best style to use in an emergency when an immediate decision is needed.   The primary aim of PDM is for the organization to benefit from the “perceived motivational effects of increased employee involvement”. In Surya World Institute Of Academic Excellence we can find that each and every task is performed as per rules of participative decision making. Suryauday was best example where different events were handled by faculties from different department and also by the interested students.