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).

 

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.

Electronic Commerce (e-Commerce): A tool to enhance Profitability

Charvi

Faculty, Surya School of Business Management

It is right to say that E-commerce is one of the tools used to improve productivity and profitability of an association. Basically it is a type of business model where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Referring to all forms of transactions relating to commercial activities, it draws on technologies such as Mobile commerce, electronic funds transfer, supply chain management, Internet marketing , online transaction processing, inventory management and automated data collection systems.
E-commerce is playing vital role in our day to day life also. Due to our busy schedule, we are not able to move out to market to purchase different products and services. Through internet we are able to search various products and make selection as per our satisfaction level. It helps us to feel relaxed and reduce our stress resulting in good output.
There are myriad advantages of e-commerce to Business. It support the transfer of information from the buyer to the seller electronically. It assists in data management hence facilitating easy exchange of information. It also authenticate the source of information and guarantees the integrity and privacy of information .
Domains of e-Commerce and Digital Marketing
B2C (Business to Consumer), B2B (Business to Business), C2C (Consumer to Consumer), B2G (Business-to-Government)

The students at Surya World are also engaged in various business activities performed on the internet. In order to give them practical exposure some of the activities include purchasing books over internet, placing different orders, using Automatic Teller Machine ( ATM) for withdrawal of funds. ATM machines of different banks are also installed in the campus for easy withdrawals.

SAY NO TO CHILD LABOUR

Neha Mehandiratta

Faculty, Surya School of Business Management

Child labour is work that harms children or keeps them away from attending school. Around the world and in the U. S., growing gaps between rich and poor in recent decades have forced millions of young children out of school and into work. The International Labour Organization estimates that 215 million children between the ages of 5 and 17 currently work under conditions that are considered illegal, hazardous or extremely exploitative. Underage children work at all sorts of jobs around the world, usually because they and their families are extremely poor. Large numbers of children work in commercial agriculture, fishing, manufacturing, mining, and domestic service. Some children work in illicit activities like the drug trade and prostitution.

Child labour involves following characteristics:

  • Violates a nation’s minimum wage laws
  • Threatens children’s  physical, mental or emotional well-being
  • Involves intolerable abuse, such as child slavery, child trafficking, forced labour, or illicit activities
  • Prevents children from going to school

CHILD LABOR

 

Initiatives Taken By Unicef (The United Nations Children’s Fund)

UNICEF uses the Convention on Rights of the Child (CRC) ,which articulates child labour as “any work that is likely to be hazardous or to interfere with the child’s education, or to be harmful to the child’s health or physical, spiritual, moral or social development”, as the foundation of its work in India.

In line with this framework, UNICEF India, in partnership with central and state governments, as well as with NGOs and other key groups, is implementing initiatives aimed to build a protective environment in which children can live and develop according to their fundamental rights. Translated into action, this approach led to a programme whose main scope is the progressive elimination of ALL forms of child labour to comply with the CRC ratified by India in December, 1992.

UNICEF hopes the World Day against Child Labour (WDACL), which is observed worldwide on or around 12 June each year, serves as a catalyst for the growing worldwide movement against child labour.

Surya world is an academic institution. It provides education to children and increases their knowledge and makes them capable to choose their career. Different courses are also provided like management courses and engineering courses. Committing their support to UNICEF’s MEENA, an initiative to save the girl child, Surya World observed National Girl Child Day in Chandigarh by organizing a painting competition and a rally among the slum dwelling girl children of the nearby Kajheri village. In a tie-up with Society for Social Health (NGO) working for the needs of the slum girl children, Surya World oriented the participants about the rights of the Girl child. On this occasion cash prizes were given to the winning entries of the painting competition.

GROUP COHESIVENESS

group

   Sarveer Kaur
Faculty, Surya School of Business Management

When discussing social groups, a group is said to be in a state of cohesion when its members possess bonds linking them to one another and to the group as a whole. Cohesion can be more specifically defined as the tendency for a group to be in unity while working towards a goal or to satisfy the emotional needs of its members. Cohesive groups include sports teams, work groups, military units, fraternity groups, and social groups. The bonds that link group members to one another and to their group as a whole are not believed to develop spontaneously. Cohesiveness among group members develops from a heightened sense of belonging, teamwork, interpersonal and group-level attraction. Similarity of group members has different influences on group cohesiveness. Individuals’ similarities in background (e.g., race, ethnicity, occupation, and age), attitudes, values and personality traits have generally positive association with group cohesiveness. In addition, similar background makes it more likely that members share similar views on various issues, including group objectives, communication methods and the type of desired leadership. Group performance, like exclusive entry, increases the value of group membership to its members and influences members to identify more strongly with the team and to want to be actively associated with it. Some groups may have a stronger cohesion-performance relationship than others. Smaller groups have a better cohesion-performance relationship than larger groups. People in cohesive groups experience better emotional adjustment. In particular, people experience less anxiety and tension. It has been found that people cope better with stress when they belong to a cohesive group.
In the context of Surya World Institutions of Academic Excellence, group cohesiveness can be found in each and every horizon of faculty and student workforce dynamics. Every event organized in the college witnesses high levels of group cohesiveness. The latest to recall is Athletic Meet in which both students and faculty participated enthusiastically and demonstrated how group cohesiveness can lead to the victory.

Strengthening Women’s Position in the World- Celebrating International Women’s Day

Ruma Mehta
Faculty, Surya School of Business Management

Starting with the opening words of great Mahatma Gandhi:

“Woman is the companion of man, gifted with equal mental capacity…..
If by strength is meant moral power, then woman is immeasurably man’s superior….
If non-violence is the law of our being, the future is with women……”

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It is right to say that position of women is improving with leap and bounds. If we talk about the past scenario, it was like that the woman were not allowed to come out of their homes, talk to any person else than their family members, were forced to do things whether they like or not and many more. But today time has changed; it is humanizing their power making them more strong and powerful.
Even there is celebration of Women day both at national and international level so as to make them realize their values and importance in the society. Upcoming is International Women Day on 8th March, 2014 and it will be celebrated with great pomp and show at different platforms. International Women’s Day is a time to reflect on progress made, to call for change and to celebrate acts of courage and determination by ordinary women who have played an extraordinary role in the history of their countries and communities.
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Women really deserve this celebration because it’s their confidence only that help them to perform best at all points of time. From our Indian society only we have lot many examples of Women giving their excellent performance in all spheres.
To share some of few examples we have Mrs. Shikha Sharma the Managing Director & CEO of Axis Bank . She is the Chairperson of Axis Asset Management Company Limited, Chairperson of Axis Bank UK limited, Axis Capital Limited and Axis Private Equity Limited. Moving ahead we have Ms Chandra Kochhar working as the Managing Director and Chief Executive Officer of ICICI Bank Limited, India’s second-largest bank and the largest in the private sector. She is widely known for her role in shaping the retail banking sector in India and for her leadership of the ICICI Group, as well as her contributions to various forums in India and globally. This shows that women are really stepping ahead of men. They are getting opportunities to excel in life.
To recognize the spirit of womanhood, Surya World also celebrates Women’s Day with great fervor. This is the platform where female staff members are given a chance to show case their talent and represent themselves in various fields. The Institute works hard to show respect towards women employees. This not only boosts up their morale but also makes them feel strong and enthusiastic.