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Impact of Digital Marketing on Academia

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With the advent of the digital age, our world seems to have shrunk and is now revolving around technology that we don’t completely understand. Digital marketing has changed the dynamics of how we understand a consumer base, from local to global. Academic communities have benefitted from digital marketing. It has broadened the network of academics and while increasing competition, it has made sure that the right consumers are connected to the right markets. Academic communities are now heavily dependent on social media to form networks and influence each other, and digital marketing has a major role in that.

Social media and the web are unchartered territory even in 2018. Back in the early 1990’s when Apple Inc. released its first Macintosh, and in the 2000’s when Google and Amazon came into the market, Digital marketing had already begun. In the 2010’s when the Cloud was developed a majority of the programming world didn’t understand it.

Marketing has always had a difficult relationship with academia. Traditional academics strayed away from marketing due to introduction of frivolous distributions and the tendency of marketing to shine its spotlight on income generating assets rather than the actual academics of it. Nevertheless its impact on social media and metamorphic impact on digital marketing brings a new imperative to academia.

Every bit of academic research, pertaining to the impact of digital marketing and social media on academics circles back to Mark Granovetter’s research on strong and weak ties. To understand how networks are formed and how people influence each other and organize into communities Mark Granovetter led some ground breaking research. His research inferred that the weakest links in a network are invariably responsible for the spread of information. This was recorded in much higher volumes than for the stronger links. Hence debunking the myth that the loudest voices in the digital crowds are the ones responsible for the dissemination of information.

In the digital age students can now access tools for academic information that they didn’t have access to before. Digital marketing and its components are being increasingly used in international education to improve the institute’s business practices. The use of online strategies brings to light the exact scope that digital marketing has in attracting students. Platforms like Coursera.com and EdX are bringing the world of academics closer, and market analysis is not only profiting back end businesses but also benefiting students at the front end by connecting them to their peers, academic or otherwise. Social Media has had a massive hand in developing the brand image of a university. This falls into a new vertical of digital marketing called branding. Social media handles like YouTube have been known to promote the informal lives of students, while handles like Facebook and WordPress have been used for blogging. Another interesting handle is Twitter. Twitter was developed for communicating in shorter sentences, getting the user to be as creative as they could, as witty as they could to get their message across. Twitter in academic circles is being used as a micro-blogging tool. Instagram is another tool that is used by universities to document their events, showcasing a controlled output to the rest of the world. All of these tools must be used to the fullest when developing a university brand image in 2018.

With all the negativity that comes along with social media in terms of shrinking attention spans, loss of penmanship skills, loss of social skills and a blur that gets created between our social and our digital lives can all be controlled, and instead used to full advantage when promoting a university. Collaborations are made between multiple universities thanks to social media which would not have been at such easy access otherwise. Social media can be a boon or a bane. It just has to be utilized in the right way.

All in all, the transformation that can be seen is immense, and it would be interesting to see what digital marketing has in store for the future of academia.

What is an MBA in Energy and Environment all about?

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Symbiosis Institute of International Business has been successfully running an MBA program in Energy and Environment for over a decade. An MBA in Energy and Environment is aimed at managers who are interested in tackling environmental challenges, developing sustainable solutions, and solving global issues. Earlier, MBA aspirants had limited opportunities concerning choosing their specialization, however, the times are evolving. Today, individuals are waiting to tap into niche specializations that bring an ethical dimension to management roles.

Read on to understand why this program was introduced and what it can mean for your career.

Why pursue an MBA in Energy and Environment?

Over the last decade, the global economy has experienced a transformational change. From the recent financial crisis to the environmental challenges such as climate change and energy insecurity; all have been pointers to head in a new direction and create a sustainable growth path. For instance, if businesses want to be truly competitive in the market, they should not only work on increasing their profits but also develop solutions to reduce their carbon footprint. Sustainability today is a matter of urgency and is essential for the long-term prosperity of any business. Today, leading companies across the globe are developing strategies for sustainability to minimize the negative impact of their core operations on the environment as well as the communities in which they operate.

As a part of the continued efforts to overcome the global issues related to energy consumption and their impact on the environment, SIIB introduced an MBA program in Energy and Environment in 2009.

What does an MBA in Energy and Environment program entail?

The primary objective of this program is to create professionals who have the expertise to meet contemporary global requirements. While pursuing this program, individuals will get an in-depth understanding of subjects such as Renewable Energy Financing, Governance, and Corporate Sustainability, Climate Change, Environment Management Systems, Life Cycle Assessment, Oil and Gas Economics, Global Business Environment, Green Marketing and more.

SIIB equips its students with ISO 14001, ISO 45001 and ISO 50001 certifications that specifies the requirements for adopting an environmental management system and aids the students in acquiring other certifications like Bloomberg, OHSAS, ISAE 3000, etc.

On completion of this program, individuals will be competent enough to create energy audits, offer effective solutions for energy conservation, and address global environmental issues, among others.

Energy Management, Environment-Friendly, Energy Conservation have become buzz words in today’s business world. Recognizing the importance of focusing on sustainability, efficiency and use of renewable resources, companies today are consistently on a hunt for professionals who can help them create energy-efficient and environmentally-friendly strategies. An MBA in Energy and Environment from SIIB provides ample opportunities for students to understand various global challenges and prepares them to tackle them effectively.

Towards sound health for a resounding success!

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Life has become fast and so is the lifestyle. This fast track life is affecting many of us so much that it has become a serious cause of concern. Many of the millennials and the generation Y are struggling hard to juggle work commitments with the demands of family and keeping up with friends. This ‘fast-lane’ approach to living is giving hardly any time to spend on basic activities like eating, resting, exercising, etc. In the age of internet where accessibility to information is easy, aspirations go on rising and make people impatient. Everyone is in a rush to prove something unfortunately not to oneself but to others. Impatience and anxiety appears to be symptomatic of this fast-paced lifestyle. This also has a lot to contribute to the rising levels of stress and health hazards.

‘Health is Wealth’ – and that is a universal truth. Any possible quest of accumulating wealth is rendered meaningless if health is going downhill. A strenuous job and a rigid schedule may invite stress, a common nemesis faced by most of us, which can be kept well in check by following effective means of time management and maintaining work/life balance. One should never consider excessive workload as an excuse for neglecting food intake, or avoiding exercise as these are two basic ingredients of healthy and prosperous life.

The ill-effects of stress and bad food habits are such that it’s saddening to see people at the pinnacle of their youth suffering from high blood-pressure, hypertension, diabetes, anxiety, heart problems etc. I believe exercising for at least half an hour every day will not only keep such diseases under control but also promote healthy eating and refraining from any sort of body-harming addictions.

It’s also important to be mentally fit to cope up with everyday stress and meeting expectations of the peers. Regular meditation helps in maintaining a state of tranquil amidst perpetual chaos. It helps in relaxing and unwinding heaps of burden built due to daily exhaustion. Daily intake of water in required amounts is a key element in maintaining a neat health.

I’ve always been a strong advocator of maintaining a sound mental and physical health, and exercising regularly will not only keep one in right frame of mind but also make one ready for the challenges that lie ahead in the world of skyscrapers with fierce competition. Money and success will follow, but it shouldn’t happen at the expense of health, which by all means, an important facilitator in living a meaningful life.

Bitcoin – The new currency?

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A hitherto unknown form of cryptocurrency—the bitcoin, once dismissed by the who’s who of the financial world, is now rapidly making giant strides in international market. Bitcoin is the only decentralized online banking network, that is, unlike the payment networks Paypal and Visa, which are owned by certain companies and their shareholders, Bitcoins are not owned by anyone. They have a peer to peer structure—with hundreds of computers all over the world working together to process the Bitcoin transactions.

Bitcoins were first created in 2008 by a person who identified as ‘Satoshi Nakamoto’, whose real identity and personal details remain unknown to this day. Last known communication from Satoshi Nakamoto came in 2011 and since then, he is believed to have retired and handed over the reins of bitcoin network to Gavin Andressen.

The biggest possible disruption which can be presumed will be in terms of online transactions through bitcoins. Over 10 Lakh merchants and vendors have accepted bitcoin as a payment medium. Moreover, bitcoins can be exchanged for other currencies; hence the frenzy for it has gained momentum over the years.

On the other hand, JP Morgan Chase CEO, Jamie Dimon has dismissed the idea of Bitcoin as a standard valuation currency and maintained that it will only help ‘criminals’. Government-backed Chinese Conference also asserted that Bitcoin’s adoption as actual Currency would be disastrous.

The current valuation of one Bitcoin, which is a mammoth 6728 Dollars, proves the level of entrustment civilians have upholded to this Binary digital currency. As we are heading towards a possible deliberation over Bitcoin being a standard currency – keeping in mind its decentralized network and non-ownership for the same, it will be interesting to see the response of big economic stalwarts across different nations to this bestriding juggernaut capable of disrupting world economic spectrum.

Unraveling Value in a Value Chain

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The concept of value chain is used to analyse international trade which comprises of full range of activities that are required to bring a product from its conception, through its design, its sourced raw materials and intermediate inputs, its marketing, its distribution and its support to the final consumer. Simply put, the global value chain includes all of the people and activities involved in the production of a good or service and its global level supply, distribution and post sales activities (also known as the supply chain). GVC is similar to Industry Level Value Chain but encompasses operations at the global level.

Value chain analysis includes value-creating activities of all industry participants. With a combination of firm’s primary activities like Logistics, Operations, Marketing, Services and support activities like Infrastructure, Human Resource Management, Technology and Procurement, a firm can stay out of ‘No Profit Zone’ and can be a step ahead with its competitors. A fine example of an efficient supply chain and an equally reliable value chain is – Amazon, with its robust operations and awe-inspiring technological advancements, has set an example in itself. The main powerhouse of Amazon is the quality control in inventory, a comprehensive market research, warranty and maintenance, good administrative and financial infrastructure and a highly proficient R&D team.

Amazon recently has come up with a new augmented reality feature for iPhone users, dubbed AR view, that lets customers place virtual versions of products into real-world scenes before buying, allowing them to see how that toaster or coffee maker will look on the kitchen counter when the real one arrives. Another feature is Amazon key, wherein whenever a delivery comes to a customer’s door, the lock first helps Amazon verify that the driver is at the correct address at the appropriate time. It then starts recording video and unlocks the door, capturing the entire visit.

With many e-commerce players active globally, what differentiates Amazon with others is the consistency by which it has managed its Value Chain worldwide. Numerous case-studies have been published for its operational and administrative success and it continues to be a prime example for the firms who wish to achieve similar benchmarks. This also holds the fact that many firms are fixating on ‘Value Chain Optimization’ as a need to systematically examine the activities and to monitor cost and performance on a regular basis.

My Journey to SIIB

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The journey of an MBA program is lengthy and challenging, leading to a place in the corporate world. It begins with a vision, a goal to study at a top B-school, learn from excellent faculty, collaborate with talented peers, and land a career at a great organization. Admissions are followed by dedicated preparation because getting into a renowned B-school can be challenging. Some take breaks to pursue this, while others balance work or college education to find time for entrance exams and admission processes. From this viewpoint, a B-School becomes a crucial turning point in a student’s life. It imparts corporate etiquette and prepares students to face the demands of a fast-paced corporate life. With this understanding, I carefully shortlisted B-schools that fulfilled these prerequisites.

 Among my considerations, SIIB stood out due to factors and degrees of preparation. I joined a coaching institute to prepare for management tests as I started studying for competitive exams. I learned verbal ability, math, and logical reasoning at varying difficulty levels. I recognized specific patterns and difficulty levels and focused on SNAP and its questions.

Preparations for SNAP began as soon as I decided to pursue SIIB. Just as you’d gauge a pool’s depth before diving in, I understood the exam format before diving into studying. In early August, I submitted forms after noting important dates, question counts, attempts, and the number of colleges available through SNAP. After submitting, I grasped section and topic specific concepts, tried new questions, and noted formulas and tips for revising later.

Starting with Quantitative Ability, one of the most challenging areas, I moved on to Logical Reasoning and Verbal Ability, essential sections. I participated in several topical, sectional, half-length, and full-length mock exams provided by SIU, SIIB, and other coaching facilities. These showed accuracy and time management matter in the SNAP exam. After taking several tests, I realized that the goal was to tackle only some questions and accurately answer the selected few.

When the day of the SNAP exam arrived, meticulous groundwork and the careful analysis of mock tests paid off. The paper was evenly divided into manageable and challenging sections, covering all topics in 60 questions. Within the allotted time, I answered 51 questions, eagerly awaiting the results and gearing up for the GEPI-WAT process. I’ll be candid—I wasn’t overly thrilled with my scores when they were announced in January, but I held onto the hope that the best was yet to come. The shortlist was announced, and I was selected to participate in SIIB’s GEPI-WAT Process. This renewed my determination to aim higher and once again strive for entry into the top B-school of my choice.

To be adequately prepared for the GEPIWAT process, I devoted time to reading books, staying updated with newspapers, and staying informed about global events. A particularly significant topic during this preparation period was the “G20 in India.” I recognized its potential relevance in business and management interviews and spent considerable effort understanding it. Moreover, I contemplated my areas of expertise and the MBA concentration I intended to pursue, reinforcing my claims with practical examples from my experience. Also, I revisited the courses from my undergraduate degree, anticipating that the panelists would be interested in my educational background. I thoroughly studied these aspects up to the day of my process, and eventually, the time came to secure my spot in the GEPIWAT process.

 The process began with the Written Ability Test (WAT), assessing our interpretation skills, and concluded with the Group Exercise and Personal Interaction (GEPI) process, where a diverse group of 10–12 participants engaged in a group discussion. We had two minutes to reflect on a topic before a ten-minute discussion. Afterward, individual Personal Interviews probed into our personality, expertise, and curiosity. The discussions encompassed fundamental and contemporary global trends, intending to evaluate our awareness and insight.

After a month of anticipation, the first merit list was released. With a stroke of luck and grace, my name appeared on the first list, signifying the culmination of my journey to the Symbiosis Institute of International Business (SIIB).

LIFE AT SIIB

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Every journey begins with a vision and a thirst for knowledge, and for me, stepping into SIIB was the first step towards achieving my goals. Before enrolling, I was aware that SIIB is one of the premier B-schools in the country, making it one of the most popular MBA institutions in Pune. It strives to provide a sound academic basis and the rigor required by the corporate world. After joining the institution, one goes through various experiences, and each student has a unique story about their life at SIIB.

Beyond the plethora of academic knowledge, life at SIIB is a transformative expedition that not only enhances managerial skills but also nurtures your personal and emotional growth. It will impart so many changes in your routine that you will notice a difference between before and after your 2-years of MBA. Starting with teaching social responsibility to potential managers, the SIIB Kshitij – ISR committee works towards community development in various disciplines, including sustainability, waste management, education, and the environment. The project positively impacts society, with over 100 students focused and consistently working hard to bring meaningful change. Speaking of the student’s emphasis on social responsibility, life at SIIB will involve a plethora of duties for everyone, allowing them to feel empowered and learn new things. Three core committees handle the principal functions of the college: Corporate Relations Committee, Alumni Relations Committee, and Public Relations & Media Committee. All these committees aim to train and place students as per their specific domains, build a strong alumni network and promote the university. Life at SIIB is further enriched through domain-specific abilities for organizing a variety of quizzes, presentations, case study competitions, and guest lectures by experts in their respective professions who guide and develop students for their respective career paths. SIIB has various clubs dedicated to enlightenment of students in specific domain. The Marketing Club: Markadiction, Finance Club: FinEquity, Supply Chain Management Club: Aarohan, and Human Resources Club: HR-Connect are the four clubs responsible for inculcating specialization-related knowledge and skills. We also have Agri-Business Club: Agri summit and Energy & Environment Club: ENECON, both with an emphasis on Agri-Business and Energy and Environment programs.

Aside from academics and skill development, there are various competitions managed and conducted by the sports committee of SIIB, emphasizing the fitness aspects of student’s life beyond the classroom learnings. SIIB also offers a wide range of delightful events coordinated by the Annual Cultural Committee, IGNISENSE and the Students Activity Committee, SPARSH. These committees play a significant role in delivering a sense of refreshment to the overworked MBA life.

A student may arrive with knowledge but the journey they embark on equips them with experiences that develop their abilities and skills which collectively shape them from students to corporate professionals.

To experience this amazing journey of growth and excellence, apply for SNAP now and seize the opportunity!