Monday, 24 April 2017

Web Robots

A new disruptive wave of Bots (also known as web robots) is coming that is likely to disrupt web and mobile apps. Facebook opened up its messenger platform to developers for third party development of bots inside Facebook messenger and Facebook pages in April 2016.

We are also seeing Artificial Intelligence powered bots on popular platforms like Slack and even normal websites that are intended to save a lot of time. Apart from media agencies, cab booking platforms and others, bots are gaining popularity in the recruitment and selection process.

Venture Beat lists some of the most popular bots that are gaining popularity and disrupting the traditional hiring and selection process in a company. One of them is the recruitment chatbot Mya that automates 75% of the hiring process. It even provides an instant feedback if the candidate is missing any relevant or important information and ranks the candidates based on the factors specified.

Such bots are increasingly growing in the virtual space powered with Artificial Intelligence and Natural Language Processing and Mya is not the only one to automate recruiting and hiring process. Some of them also include sharing tips for interviews, personality tests and resume screening and feedback.

This is just one example of how bots can help humans and bots in the HR sector are getting popular and smarter and are likely to simplify and strengthen the recruitment and selection process.

Ms. Smriti Dua
Assistant Professor
Dept. of Management Studies

Sunday, 23 April 2017

The relevance of marketing research in today’s World

Marketing research has become an essential part of any market related activity. The pre-requisite to entering a market is a systematic research. Marketer can gain the advantage of knowing customers, suppliers and competitors through marketing research. These parameters help in deciding whether a particular product is viable in a market. Marketing research is not only done for entering a new market but it may also be conducted for launching a new product in an existing market.

There are several options open for companies who wish to conduct marketing research. They may conduct the research on their own or may employ an external agency for doing so. The cost factor, time period taken and expertise of the firm to handle marketing research are some of the factors which are taken into consideration while making such a decision.

Marketing research enables a company to make marketing strategies, forecast future demand, know the market growth rate for their product categories and give industry and country specific information. Data crunching and extracting relevant information for marketing managers is the main task of market research firms.

Future cannot be predicted in totality due to changing environment  arising out of consumer attitude.  innovations , new entrants in the market, etc. Marketing Research helps in reducing the quantum of risk involved though may not be able to completely eliminate it. In other words, it can be considered as a safety step in the large capital investment in present day projects and long term returns.

Thus, we can conclude that the relevance of marketing research is immense in today’s dynamic marketing environment. Without marketing research a manager would be groping in the dark. The risk is greatly reduced if proper marketing research is done. Since the consumers, government policies and competition are in the external environment, it becomes difficult to control them.  The only way is to know them and this information is provided by research. 

Dr. Sartaj Khera
Assistant Professor
Dept. of Management Studies

Monday, 10 April 2017

“Relations: A mathematical approach“

Relation is a word by which we connect at least two quantities by a rule.If there is no connection, it means there is no relation between the quantities, such quantities are treated as independent quantities in mathematics. Generally in algebra we define “a relation is a subset of Cartesian product of two non empty sets”. The definition of a relation indicates that without Cartesian product of two non empty sets a relation cannot be formed. Generally there are three types of relations in algebra Reflexive, symmetric and transitive. The relation which is reflexive and symmetric and transitive is called equivalence relation. Taking this theory in mind the researchers introduced the concept of intuitionistic fuzzy (vague) relations. Fuzzy sets introduced by Zadeh had a great importance in the field of management, computer sciences, and daily life problems. Later on the theory of intutionistic fuzzy set was introduced by Attnassove by using Zadeh’s Fuzzy set theory. In this present paper the author discusses a comparison between relations and vague relations,and their properties.

We are familiar with the theory of crisp sets. A set is well defined collection of objects. If we have two non empty sets A and B, then  a relation is the subset of the Cartesian product  of set A and B. Therefore mathematically suppose R is a relation from A to B, Then R is a set of ordered pairs (a, b) where a  A and b ϵ B.  Every such ordered pair is written as a R b.  If (a, b) do not belongs to R, then a is not related to b. Basically relations can be classified into three categories  Reflexive, symmetric and transitive. The relation which is reflexive and symmetric and transitive is called an equivalence relation. Reflexive relation : If A and B are any two non empty sets, and R be a relation between A and B Then relation R is reflexive iff a R a  a ϵ R. Symmetric relation : If A and B are two non empty sets, and R be a relation between A and B Then relation R is symmetric iff,        a R b → b R a   a, b  R.

Transitive relation: If A and B are any two non empty sets, and R be a relation between A and  B, Then the relation R is Transitive iff.      a R b,  b R c,   → a R  c    a, b, c,     R.

Now, the relation which is reflexive and symmetric and transitive is called an equivalence relation.

When we apply these definitions of relations on daily life we are able to get the real picture of a relation in which we are living. For example if we check the relation “fatherhood”.

By these definitions, then we are able to find exact picture of this relation. For reflexive relation, since no person is the father of himself in this world, therefore the relation of fatherhood is not reflexive. Again if a is the father of b, does not imply that b is the father of a. therefore the relation “fatherhood” is not symmetric, again if a is the father of b, and b is the father of c, does not imply that a is the father of c. therefore the relation “fatherhood” is not reflexive, symmetric, and transitive. Hence this is not  an equivalence relation.

Dr. Hakimuddin Khan
Associate Professor
Dept. of Management Studies

Wednesday, 5 April 2017

Career in Event Management

In today’s hectic era, when every person feels 24 hours a day very less time to complete his work and due to which they have forgot the real meaning of life. They rarely get time to celebrate and enjoy life. And indeed that is the place where scope of event managers lie.

Event management has emerged as a very lucrative and most sought after industry in recent years. With the increase in events being organized by individuals or organizations, need of skilled and professional even managers have rapidly increased. Well trained professional event managers must have the necessary skill-sets required in visualizing concepts, planning, budgeting, organizing and executing events. Though the industry has a huge requirement of professional event managers but it is still not sufficient to cater to the ever-rising demands of this industry. This is the reason, there are greater employment and earnings opportunities for professionals aiming to enter this field.

 Event management, a form of marketing and advertising, is a glamorous and thrilling field. It gives you ample opportunities for unleashing your creative potential. Event managers should have a flair for conducting events, a passion for doing it creatively, very good organising skills as well as the willingness and ability to work long hours.

People with an out-going and friendly nature, have a huge scope in this industry,and proves to be very successful.

And the very interesting thing is that today’s youngsters very well fir to such industries, where you can execute whatever you plan, but there is just a need of good planning.

There are many designated jobs in this industry like Event Planner, Event Coordinator, Event Production Head / Team member, Public Relations Officer, Event (Budgeting & Finance) Executive, Event Legal Executive etc.

There was a time when management of a whole event was to be given to a single event management company but now the industry has taken a big turn. Now a days people prefer to appoint specialists for each and every single task. For example for cultural part of the event a separate team will be hires, for food and catering a separate team will be hired, for decoration other specialist of the industry will be hired. This not only helps in bringing the best of the whole industry but also divide the work profile systematically. This is again the biggest reason of the increasing scope of a good career in this industry.

Undoubtedly this industry in coming years will be the most bright industry for the young people of India to make their bright future.

Ms. Himani Joshi
Assistant Professor
Dept. of Communication Studies