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



Tuesday, 28 March 2017

FACTORING

Credit sale of goods and services gives birth to the term factoring. Factoring can be defined as a method in which the debtor (trade debt) is sold to a factoring company at a discount on a continuing basis. In other words, we can say factoring is a process in which a firm (namely the client) receives the short-term finance whenever required from financial institutions (namely the factor) to manage their short term needs in a better position. Traditionally, this kind of service was very common in western countries but now, it is available all over the world. Initially when factoring service came into existence then it was only bank, the only financial institution which act as a factor and helps in collecting its client debt. But, in today’s scenario the picture of a factor has been changed. In today’s date it is considered as much broader concept. Today, any financial institution can act as a factor, he can administer the sales ledger of the client, provide credit control, help in collection of debt, purchases the client’s trade debt including accounts receivable either with or without recourse insurance against non-payment of debts. Thus, we can say that factoring is a combination of providing finance and management services to its client (firm). To put it simple, factor provides its management skills and finance to the firm for a certain fee or commission that varies with interest rates in force in the money market. Factoring is a special activity in which the firm can convert its credit sale of goods and services into cash by selling them to a factoring organization. Factoring service is termed as boom to manufacturer to a dealer of goods and services. With the help of factoring service, the firm can concentrate on the manufacturing goods, expansion of business, serving more customers etc and need not concern itself with non –profitable control and sales accounting matter. Factoring services can be drawn up normally for an initial period of twelve months, continuing thereafter indefinitely until notice (of about six months) is given. Factoring reduces debt worries and improves the cash flow. Factoring is an alternative source of funding which creates no liabilities. Factoring means financial freedom for your business. Factoring is not just about fast cash but it also helps in growth of the business.

The main types of factoring are:

  Ø  Recourse factoring- In recourse factoring, the factoring company assumes the risk of late payment but the seller retains the credit risk. Upon expiration of the grace period and if a debtor doesn’t pay , the supplier makes payment to the factoring company. The sellers risk is reduced because each customer undergoes a professional verification before hand of its ability to pay. If the factor has given some advance to the supplier then the suppler has to return back the amount received to the factor along with the agreed fees or commission. This type of factoring is also known as pure factoring.


  Ø  Non recourse factoring-In non-recourse factoring the firm sells the receivables to the factor. The factor makes the payment to the firm immediately or after receiving from the debtor. But in such type of factoring risk is born by the factor. If, the debtor fails to pay the amount of receivable or there is a delay in the payment of receivable then this loss is to be borne by the factor. In other words firm does not have any risk of loss due to delay or default of receivable, all the risk is taken by the factor. Therefore, in order to minimize the risk the factor carefully examines the debtor and his creditworthiness. This type of factoring is also known as full factoring.

Dr. Himani Gupta
Associate Professor
Dept. of Management Studies


Monday, 20 March 2017

Reverse Mortgage and Financial Independence of Senior Citizen

The financial services are undergoing transformation in current scenario and there is an upsurge of a whole new set of services one of them being Reverse Mortgage. The service was introduced by the Union Government in 2007 and has been aiming to give quality life to senior citizens. The service not only provides regular stream of income to old age people but also gives them an opportunity to live with dignity without being dependent on their near and dear ones.

This service is primarily the opposite of a traditional home loan. It gives an opportunity to a senior citizen to have regular income from the bank against mortgage of his house property. The borrower receives a fixed income from the mortgage and continues to stay in the house till his death.

The phenomenon initiates when the home even if of illiquid nature pledged by a senior citizen in exchange of regular payment to a bank. The bank evaluates the monetary value of the property by considering the demand for the property, prevailing property price and current condition of the house. The bank then provides a loan amount to the borrower after taking into account a margin for interest cost and price fluctuations over fixed loan tenure. With the payment of every installment of reverse EMI the individuals interest in loan decreases. The settlement of the loan happens on the demise of the borrower and borrower’s spouse. To settle the loan the bank first provides an option to next of kin to repay the loan along with accumulated interest. In case of disinterest or incapability of the individual the bank recovers its due from sale proceeds of the property. The excess amount left after the settlement of the loan with accrued interest and expenses, is passed on to the legal heirs. In case of sale, if sale proceeds are lower than the accrued principal and interest amount, the bank bears the loss of the amount that it could not recover. Such a loss generally arises where the bank makes an incorrect estimation of property valuation at the time of providing the mortgage as compared to the existing real estate market prices. The reverse mortgage interest rates could be fixed or floating and is determined by benchmark set by prevailing interest rates. The amount received through reverse mortgage does not attract taxes as it is considered as loan. Although a borrower is liable to capital gain tax at the time of sale of the mortgaged property by the bank for the purpose of recovering the loan.


Although very promising but the concept has certain issues within that need to be looked into, like the documentation process is lengthy and brings inconvenience to the applicant, besides the monthly payments are in annuity and are not subject to any increase even in case of emergencies. Despite of all its shortcomings, the reverse mortgage is ideal to supplement a senior citizen’s income in the post retirement age.


Dr. Deergha Sharma
Assistant Professor
Dept. of Management Studies

Monday, 6 March 2017

Travails of a Woman Documentation person

Personal is Political
-A well known feminist slogan

Well behaved women rarely makes history
-Eleanor Roosevelt to Marlyn Monroe


It was Mary Wollstonecraft’s first defiant moment in 1792 with the publication of ‘Vindication of Rights of Woman’ that we came across a documented history of Woman’s writing in a journal writing format, and which looked upon women as a political subject. As some of the students of women studies must be reading works of Virginia Woolf to theorists like Adrienne Rich, Judith Butler, Uma Chakravarti, Urvashi Butalia etc. While the writing of these women varied from personal accounts in journal formats to work of fictions, they all found space via libraries, book shops etc. to enter popular cultural imagination. Although books and articles on the history of women have appeared throughout the ages, the practice of creating special collections and archives for women is a relatively recent phenomenon, not quite a century old. It is only in the last few years that historians have become aware that there was a pattern to the establishment of women’s archives in India. This is where I would like to emphasize on the need for archiving and having women archivists. While, we might do formal style of academic writing and documentation but need for archiving and documentation remains quintessential because if we don’t archive now the future generations would not have enough material to look upon to understand their history and source the struggles of the previous generations. I also see that there is a need to broaden and expand the material that is archived because sometimes so much material circulate in a public domain that they don’t end up in an archive.

 I don’t know how many of you have ever been to an archive for research purposes but if you visit Delhi and you end up going to National Archives or for that matter Teen Murti Museum, you would realize that the books or audiovisual records that land up in those shelves are actually the staple of what many mainstream historians or students might deem as something of historical importance or official document of historical value. The documents at times available in these archives at times are so exclusive that they largely forego experiences of women as well as marginalized sections of the society. So, these stories of the margins are somehow never find space in official, public, mainstream, institutional space in which memories is being kept and at times hand woven for the coming generations.

So, one can see that the way we have learned to look at both politics and history is too much with the lens of public space which can be extremely exclusionary. So, how does one feature in history or make sure that one’s heritage find space in history? Even if you look at newspapers, you would notice that the newspaper would be giving you the main headlines which inturn is the index or highlight of that particular day. So, the important stories of history might feature in page 10 or buried in a page between advertisements. So, how does one tells an oppositional or alternative history? Women’s movement in India is one such oppositional or alternative movement in history, where new histories are forged. But where do we find these oppositional or alternative writing, they are usually confined to specific campaigns or fact finding reports, and at times these reports also usually get lost or buried within the archives. Even during various movements one may see generation of various pamphlets, posters distributed to the people, which eventually disappears after event is over. This why there was a constant need for archiving and documenting to create and recreate an alternative narrative.

As an archivist and documentation management person I realised the radical potential of memories of our past but also the need to preserve them for posterity, this made me start my tryst with the camera. If you are interested in photography you would realize that the presence of camera changes your perspective of how you enter a particular situation at the time, it was similar in my case as well. In 2011, I had an opportunity to work as an intern in one of the most prestigious institutions called The Archives and Research Centre for Ethnomusicology of American Institute of Indian Studies, which had been in the field of archiving and documentation for more than 30 years now. The reason for joining such an institution worked in two fold manner firstly my need to learn the basic skills of documentation for long term preservation, and  further find a collective that would work in line of archives like SPARROW (Sound and Pictures Archives on Research on Women) which had come up with alternative measures to document women’s history not only through various women’s movement but also their day to day struggles within an hetero-patriarchal setup.

The archive that I talk about or imagine for the future are not only documenting the history of woman’s movement in India but also that comprise of works of woman filmmakers, writers, voices of dalit women which at times don’t get space within the mainstream. These archives would have women working to rewrite and to co-create history and would be fully managed by them.

Though during my days of being a student of Journalism and Mass Communication I was never interested in seeing how a camera worked, I realised its importance during my stint in ARCE and later documenting movements like anti-rape movement in Delhi, queer movement in Delhi along with student movement etc.

See, with some basic training anyone can be an archivist or documentation personal, there is not always a need for aesthetically designed videos but documentation that is legible enough and can be available for the future. The objective is to never back down by criticism about your work take it constructively, keep yourself abreast with technological innovations. Imagine if you were reporting in the 70s and 80s, you would have to visit the scene of action, interview some people get back and then churn out my story. This however has changed with coming of youtube, snapchat, ustream, livestream apps etc. the technological intervention allowed me to directly post videos on facebook, twitter, myspace to get people’s attention towards issues that was at times not covered by mainstream media.

It is through series of experiences such as these along with my training as an archivist as well as someone who work within the activist circles that I realized how important it is to voice one’s opinion and to make sure that voices of woman even within the activist circle doesn’t get suppressed. I realized that it was extremely hard for me as documentation person to be taken seriously at times people don’t inform you about ongoing protests, give you misleading information.  

I would emphasize on the fact that whenever you find yourself amidst a protest or incident of significant value do step out of your comfort zone. Don’t drive around, instead walk, meet people, talk to them, and ask questions, you may be surprised by the different version of the same story circulating amongst people.

Though there are women pioneers who start things, it is equally important for us in the newer generations to continue these legacies keep them alive. I wish that the different pioneering spirits that created space for us and you to be here today continue to remain alive through each of you. Let your light shine!


Ms. Priyam Ghosh
Assistant Professor
Dept. of Communication Studies