WORKSHOP ON ACTUARIAL EVALUATION OF EMPLOYEE BENEFIT SCHEMES
A workshop was conducted on 22nd of July, 2016 in BIMTECH by Centre for Insurance and Risk Management in association with Mithras Consultants (An Actuarial consultancy firm) on the topic ‘Actuarial Evaluation of Employee Benefits Schemes’. The workshop was attended by almost 20 industry experts from Insurance Brokers fraternity, Insurance Companies and Chartered Accounts along with students of Insurance Business Management in BIMTECH.
The colloquium started with the introduction to the profession of Actuary and what roles do they play as the backbone of the Insurance Industry. Their responsibilities range from evaluation of a company’s assets to actuarial evaluation of a company’s group schemes. The workshop focussed on the latter. It was communicated that this valuation is important for any company in order to strike a balance between the funds they need to keep for statutory payments to their employees and the ones they could invest to make profits. The discussion also took a turn towards different group insurance and pension schemes like PF, Gratuity, Pensions and the factors which affect their valuation.
At the end, the change in the recent Indian Accounting Standards from IAS15 to IAS19 was debated upon and the impacts it will have on the companies’ financial statements were talked about. The session was made lively by the industry experts who asked practical implications of these changes and valuation methods. Students of PGDM-Insurance too had an enlightening session.
WELCOME TO BIMTECH’S GREEN CAMPUS!
When you step in to the BIMTECH campus, a mass of green landscape will welcome you. Added will be other colours of flowers of various hues and birds of different feathers to match Our concern for the green aesthetics is not confined to just providing a soothing green landscape for you. We are also conscious of the sustainable use of power, water etc. for bringing greater efficiencies in the campus.
Some of the existing energy efficient measures adopted in the camps are the following:-
• Use of Solar energy for providing hot bathing water to students staying in campus and A B Hostel
• Replacement of conventional 36 watt Tube lights by LED 15 watt Tube lights
• Installation of 100 KWp Solar Power Plant on rooftop of Academic Block for generation of electricity
• Food waste is processed to convert into Manure and used for Horticulture
• Segregation of garbage into four categories by modifying the garbage bins
• Rain water harvesting system
• Recycling of water used for central RO Plants installed for Hostels and Mess
Some of the proposals for greening the campus further under implementation are:
• Replacement of street lights by solar lights and remaining CFL Lights by LED lights
• Addition of 200 KW Solar Power Plant in phased manner
• Strengthening of existing rain water harvesting system by connecting with a new pit
• Waste water from RO Plant will be channelized to Horticulture pipe line for watering of trees, plants and lawns.
• Use of solar energy for cooking in students’ mess
You can see that we are journeying from our existing green campus into a “Greener Campus”!
Lecture on Cross Cultural Business Communication for PGDM 2016-18 Batch by Prof. Jodie Ferise, University of Indianapolis, USA
As a part of Faculty Exchange, Centre for International Affairs invited Prof. Jodie Ferise, University of Indianapolis, USA to conduct sessions on Communication and HR. In her 6 weeks stay, Prof. Jodie is offering courses in Cross-Cultural Business Communication & Leadership to students of PGDM, IB, IBM and RM batch of 2016-18.
“Every country is unique in its own culture and practices. In the era of globalization when the world is reduced into a small global village, the interaction and interdependence among different economies is on a rise. In such a scenario, the need for understanding different culture becomes indispensable in corporate world.
Keshav Jain, a student of PGDM-IBM shared his experience of Prof. Jodie’s class:
During her session, Prof. Jodie Ferise highlighted the need to understand different cultures across the globe. To make the students understand her idea better, she conducted the three hour session in a workshop mode by dividing the class into 10 groups with each group having strength of 6 members.
Each group was given a business scenario which they had to interpret, and thereafter design a strategy for successful cross cultural communication. The teams had to discuss and write collective opinion in a sheet provided to them. Prof. Jodie gave 10 general social parameters like fluid time vs. fixed time, relevance of historical perspective in society, masculine vs. feminine, need for personal space, competitiveness, social structures, laws, environment, active vs. passive work force. The class was asked to give their opinion from the perspective of Indian society as a whole.
The group activity was extremely interesting and interactive. After the completion of activity she asked the responses from each group. For every situation the opinion of each group was somewhat the same, with certain exceptions resulting out of the diversity in the class itself. With every situation Prof. Jodie was drawing a sharp comparison of Indian culture with that of United States. With every parameter that was being discussed students got to know how different cultures interact across the globe.
The way she explained the changing trends in cross cultural communication, made everyone realize the importance of the subject and its application in ones professional life. The enthusiasm and zeal of the class were at peak during the whole session. At the end of the session each group was given an assignment in which they will study the culture of the specific country allotted to them and then make presentations to the Business Communication Faculty. All the students are eagerly looking forward to the next fun filled interactive session of cross cultural communication.”
Guest Lecture by Prof. Anil Ahluwalia, Westford School of Management, UAE
On July 8th 2016, Centre for International Affairs, BIMTECH organised a guest lecture for PGDM IV Trimester students pursuing HR as their specialization. The lecture was delivered by Prof. Anil Ahluwalia, Academic Director Westford School of Management, UAE. He shared his vast knowledge and experience on the topic “Attaining Competitive advantage through Acquisition, Retention and Engagement of Talent”.
He initiated his talk while deliberating on company’s primary purpose of existence and the importance of Competitive Advantage. He discussed how a company follows strategies to gain that competitive advantage for the ultimate aim of ‘higher profits’ and threw light upon the necessity of HR strategies to be synced with that of the company’s strategies. This enables smooth and efficient implementation of these strategies and leads to improved profits, growth and development in the long run. The interaction was highly interactive and students were quite inquisitive and constantly engaged.
“Industry expectations from fresh management graduates in today’s scenario”
BIMTECH organized a panel discussion on the theme “Industry expectations from fresh management graduates in today’s scenario” on 9th July, 2016 for the batch of 2016-18.
The Panelist were :
Alok Gupta Founder & CEO at Pyramid Cyber Security America Inc
Vikas Sikand VP at Spice group Pvt. Ltd
Jugal Kishore Vashist CEO-Kirloskar Pneumatic Co Ltd (RoadRailer Div)
Harveen Bedi – Business Head – Infoedge India Ltd
Mohit Chhabra Co-Founder & Principal Consultant KNOLedge Corporate ServicesIt was an interactive discussion session where Mr.Alok Gupta was the Moderator among the panelist and students came to know about what the Industry is expecting from them and how they should be prepared for it.“What do Corporate look in graduates”?Panelist Jugal Kishore Vashist CEO-Kirloskar Pneumatic Co Ltd (RoadRailer Div) said “Corporate” look for candidates with learning capability and consistent inclination towards learning. Job loyalty is also important in a candidate’s attitude.Trust and multi-tasking is pretty important in the modern corporate culture”.Mohit Chhabra, Co-founder and Principal consultant, Knowledge corporate services.
Quoted saying CAKE change,adaptability, content,energy.Candidates need to be adapt and quick to change and build more adaptability,approach everything with all the energy. a person himself can only energize himself.Content is important in the knowledge of a person,fundamentals have to be very strong for a strong knowledge.
Vikas Sikand, VP at Spice group Pvt. Ltd
“One should learn as fast as possible.In the Era of value value added services,the need of adaptability has become a key factor.Finitiative-many initiate a task, but executing the task strategically and finishing it. build a quality of initiative”.Harveen Bedi, Business Head, Infoedge India ltd.
Quoted saying “Learning attitude is important and build upon the extra edge like projects, exposure to standout in the tough competition”.
STUNNING SURGE OF YOUTHFULNESS AND ENTHUSIASM ON DISPLAY
Nearly 400 students of the 2016-18 batch stormed their way into all parts of BIMTECH to demonstrate their individual skills and team building capabilities on a mild morning of July 3, 2016. The occasion was the Management Games excursion in the campus compereed by Mr. Subrat Kumar of Cinque and his team of 20 trainers.
The campus was lit up with the enthusiastic shouts and screams of 10 student teams of boys and girls during and after the completion of exercise. Some of the items covered were Tube Game, Caterpillar Walk, Sponge Game, Back-to- Back Balloon Race, Tower Game, Tug of war etc. The aim was to impart skill sets which will last a life time in students.The exercise lasted for more than 9 hours and the enthusiastic participants were asking for more. But like all good things in life, this dynamic exercise too had to end and it ended at 3:00 P.M. with the distribution of medals for winners from different activities. The medals were presented by Dr. H. Chaturvedi, Director; Prof. K. R. Chari, DWSS and Dr. Rishi Tiwari, Sr. Librarian and Proctor – Students Welfare in the presence of Mr. Subrat Kumar and his team.
A ringing endorsement for the event was the query from many of the young participants as to when can they do an encore!!