Cashless economy has become a buzzword after the Modi’s Government announcement of demonetization exercise on Nov. 8th to curb black money from Indian economy.
Cashless doesn’t mean ‘without cash economy’ rather it means least or less cash into economy. It is a step towards the digital economy because it ensures that the digital fingerprints of all the transactions are available.
India has one of the highest ratios of cash to GDP in the world. Last year, 78% of all consumers’ payments in India were made by cash, whereas in the developed world like US /UK, only 20 to 25 % payments were made that way. According to a 2014 study by Tufts University, The cash operations cost of the Reserve Bank of India (RBI) and commercial banks is about Rs. 21, 000 crore annually. Cash economy facilitates the black money, fake money, money laundering, drug trading, tax evasion, no transparency, corruption, etc. Certainly, cash economy has its benefits such as it empowers unbanked families, easy transaction, acts as a store of value, no transaction fee, and no records of big data and provides safety from hackers and online transacting companies. In the present era, the benefits are losing relevance and cashless is a way for honest, transparent, safe and secure society. In such scenario cashless economy is a boon for Indian economy. Continue reading →
In the build up to admissions for various management programs, it is an opportune time to reflect on who the management institutions are looking for to join us next year. Every university/institution is extremely proud of its students and look for a few distinctive traits that are common to all individuals within the MBA cohort.
Intellectual ability and a good academic track record are essential, of course, but as the institutions select the Class of 2017, there are three attributes that the Admissions Committee look for when selecting candidates for the MBA.
First and foremost, the institutions look for candidates who exhibit strong leadership potential throughout their academic and professional experience. This can take many forms: being selected for a leadership program at work (for the candidates who have work experience), launching a new business venture, captaining a sports team or leading a voluntary project – anything which demonstrates your ability to lead, inspire and motivate others. MBAs have the leadership potential not just to succeed in business, but to create new opportunities and be trailblazers for others. Today management institutions want candidates with the drive and ambition to change the world for the better. Continue reading →
Industry experts say that India has the potential to be a global technology leader. Indian industry is competing globally in software and other emerging areas such as automobiles, chemicals, etc. In this direction, the growth of engineering education in India is crucial for the success of Indian industry. According to the widely quoted report by the National Association of Software and Services Companies (NASSCOM), over the next decade demand for engineers is expected to grow by 11%. A degree in engineering offers immense opportunities, if you choose top universities for B. Tech degree. In this context, Institute of Engineering and Technology (IET) at JK Lakshmipat University (JKLU), Jaipur is offering a four-year Program on its campus.
The Program is designed to enable students to pursue their goals and career objectives from a choice of several highly relevant and modern disciplines. The institute offers degree in computer science and engineering, mechanical engineering, electronics and communication engineering and chemical engineering and electrical engineering. It also offers M. Tech in electronics and communication, computer science and engineering, electrical engineering, mechanical engineering and Doctoral Programs in all engineering branches. The University has collaborated with IBM’s Software Group to roll out degree programs that are jointly developed and certified to make sure that the students have the best from both the academia and Industrial world. Continue reading →
The current economic environment is highly competitive and therefore strives for sustainability. A quality human capital is one of the key factors towards the economic sustainability. There is a strong requirement of a good and quality human resource who can develop this present need of environment without compromising the ability to meet their own needs. Today’s business world need people who can face the contemporary world challenges and can provide the initial corpus and direction to the business towards excellence. Organizations need good managers and industry leaders who can give best results through their communication skills, management skills, research skills, analytical skills, teamwork skills, leadership skills, managerial soft skills and achievement oriented personality.
Personality plays vital role in the success and growth of a person. As personality is a blend of inner psychological characteristics like emotions, thinking, attitude and mindset, which determines and reflect how a person responds to his/her environment therefore it is a corporeal characteristics and makes every individual different and unique. Though personality is developed right from the beginning of childhood but it is a continuous process which keeps on improving through the entire life of a person. Continue reading →
Reliability theory is a complex science related directly to engineering, science and economics. Reliability is theoretically defined as the probability of success or the frequency of failures. Reliability engineering deals with the estimation, prevention and management of high levels of lifetime engineering uncertainty and risks of failure. At present, not only engineers and scientist but also government leaders are concerned to increase the reliability of manufactured goods. We at one of the best universities in Jaipur, JK Lakshmipat university believe that failure prediction can be improved if reliability modeling is integrated in the field of Civil engineering, Mechanical engineering, Computer Science engineering and many more. In order to solve many of engineering problems those arise in reliability theory, the methods of probability theory has been used. Reliability theory introduces quantitative indices of quality of production. Reliability engineering has both Continue reading →
Carbon nanotubes as Reinforcement Material for Tyre Rubber and Automobile Components
Carbon nanotubes are one of the most researched nanomaterials because of their excellent mechanical, electrical and thermal properties. It consists of carbon atoms covalently bonded in a cylindrical crystalline lattice. A single wall carbon nanotube consists one cylinder of carbon atoms while multiwall carbon nanotubes have many concentric cylindrical lattices of carbon atoms. Single walled carbon nanotubes (SWCNTs) are much lighter yet many times stronger than steel making them the strongest known material. The Young’s modulus of SWCNTs is in order of 1 TPa, where as carbon fibers have 800 GPa and glass fibers have 70 GPa. Continue reading →
As India is marching on the path of economic progress, there is a huge job potential for commerce graduates in the various fields of business and finance. Commerce education undoubtedly is one of the most popular academic choices in India. The landscape of commerce education is changing at a faster pace and there is surging demand of student from commerce back ground. Such student has imparting knowledge in the various interdisciplinary branches of business such as Accounting, Auditing, Taxation, Law, Transport and Communication, Banking, Insurance, Statistics, Economics, Finance and Control, Capital Markets, Financial services and the contemporary courses like E-Commerce, Internet and E-business, Business Analytics etc.
Bachelor of Commerce is a terminal degree which provides the occupational training to the students like clerical, accounting, secretarial and sales etc. The students after graduation in commerce can go for clerical posts in various private and government sectors like audit and chartered firms, business establishments, banks, insurance companies, railways or government agencies through Institute of Banking Personnel Selection, Staff Selection Commission and Railway Recruitment Board and other competitive exams conducted by private and Government sector. However, if the students want to go for more specialized and professional education for higher position, pay and perks may opt for pursuing MBA, CA, CMA, CS, CFA, Security market programs etc., or pursue M.Com followed by M.Phil, and Ph.D to build career in academics at various educational institutions and Universities. Commerce graduates with MBA in finance or any other professional qualification have wide range of career opportunities as Account Officer, Finance Managers, Financial Analysts, Bank Officers, Budget analysts, Stock brokers, Stock Market Analysts, Audit Officer, Tax consultants etc. Continue reading →
Marketing is well defined as a process of creating, communicating, delivering and exchanging value through profitable customer relationship. Marketing is not only selling or promoting goods/services, it is more than that, which includes number of activities which satisfy customer needs. The scope of marketing includes developing right product to satisfy customer needs by enhancing society’s quality of life, creating competitive advantage through operational excellence and overall cost leadership, communicating values and benefits to change societal behavior in positive way, distributing the right product at the right place at the right time.
The objective of any organization, whether for-profit or not-for-profit, is to create benefit for the organization as well as for customers. Marketing contributes directly to achieve the goal of an organization by building brand and customer equity; and by providing critical inputs in major areas like markets, competitors and strategic decision- making. Marketing is also responsible for customer’s and society’s long-run welfare. Today many organizations are practicing ‘societal marketing concept’ which not only consider the consumer short-term wants but also take care of consumer’s long-term interests. A marketing manager is not only responsible for servicing a customer but also to manage an ongoing relationship with the customer. Thus we can say that marketing plays very important role in almost all the organizations. Continue reading →
In the fast paced and dynamic world of today, if something has not changed – it is Finance! Money still rules the World! The World is divided between haves and have-nots; i.e., those who have money and those who have not! After the recession of 2008, how we manage our Finances became quite important. The 2008 sub-prime crisis occurred due to the special financial instruments which few could understand! In the year 2015, with the crash in commodity prices, especially oil, countries like Saudi Arabia, Kuwait, Venezuela, etc. stared at declining oil revenues. In order to maintain their living standards, they started planning how to conserve their dwindling foreign exchange reserves and looking out for newer avenues for raising Finances! Again, in 2015, the World saw negative interest rates for the first time in Asia, starting from Japan! This unconventional monetary policy tool was used by Sweden’s Central Bank in July, 2009 for the first time. It means that for keeping money with the bank, don’t expect to receive any interest; in-fact, in reverse, one needs to pay bank for the same. And the borrowers receive interest for taking loans! All this calls for an understanding of Finance as an enabler, creator and conserver of money and fortune! The top class Finance Faculty at Institute of Management, JK Lakshmipat University, the best MBA University in Jaipur make the same understanding – a child’s play!
According to Investopedia, “Finance is the science that describes the management, creation and study of money, banking, credit, investments, assets and liabilities. Finance consists of financial systems, which include the public finance, corporate finance and personal finance, and the study of finance and financial instruments, which can relate to countless assets and liabilities.” In older times, barter system was used which took care of the payments – but, it had limitations. In modern times, currency in form of notes and coins took the place of barter system. Of late, the use of digital cash is on rise. Similarly, the simple notions of money, banking, investments, assets and liabilities have undergone a dramatic change in the last decade or so. Continue reading →
As we know that employability of the engineering graduated has recently declined to a historically low that has caused a panic among the educators in India. Technical education – a professional degree program is supposed to provide hands-on learning in several disciplines of engineering and technology. These professionals are supposed to solve the real life challenges and to improve or facilitate the lives of the individuals of various walks of life. The classroom learning involves understanding the technological concepts with appropriate mathematical treatment. However, to effectively learn several technological concepts of any engineering program, it is important to apply those technological concepts to solve some real life application based problems in order to reinforce the real potential of those concepts and to learn the underpinnings and limitations of those concepts.
Often times, the classroom teaching is focused on covering lot of fundamental concepts with appropriate mathematical treatment but little focus is given on the real life industrial case or application based exercise. In absence of the application of the studied concepts, the mathematical analysis of the concepts remains meaningless and as a result of that, students forget those concepts quickly or after passing the exams. This methodology of teaching converts the technical education to a “rote learning” and thus leaves a significant gap between the industry expectations and score of the degree examinations. It is therefore essential that application or case based teaching methodology is developed and adopted to make technical learning effective so as to bridge the gap between examination scoring and an ability to solve the real life engineering problems. Continue reading →