Faculty Initiatives on Teaching and Learning
The initiatives in teaching and learning taken by the faculty members have been described through the process flow chart below and detailed description following the flow chart.
Faculty members at the Institute always seek to enhance student learning using innovative teaching –learning methodologies. The discussion on the methods and techniques used by the faculty is held during monthly faculty and functional meetings for peer-review. The details regarding initiatives taken by the faculty members are available in academic records and on website. The Institute encourages faculty members to interact with each other for redevelopment and reproduction of each other’s work. There are many such initiatives taken by the faculty members to enhance the quality of student teaching-learning process. A few examples of these initiatives are FunTech, E-day, Teaching beyond classroom, Use of ICT applications for business planning and forecasting, News Analysis, Budget Live, Quiz sessions on Business News, Collaborative teaching and CSR activities.
1. FunTech (Fundamental Analysis of Companies using Technology)
Financial statements of companies are the mirror of its performance. Financial Statements give substantial information about the financial health of the company. These financial statements need to be analyzed properly to understand the company’s performance and its financial health. Therefore, the main objective of this initiative is to enable students to do analysis of the financial statements of the company. The methodology followed is group activity or presentations in order to enable students to do financial statement analysis (FSA). The class of 60 students is divided into 12 groups, each group consisting of 5 students. Each group has to select one sector and then any five companies in that sector. The group needs to do full industry analysis using PESTEL, SWOT and 5 Forces model. Then the group needs to calculate the financial ratios of the 5 companies and do comparative analysis. For gathering the data of the industry and companies, students are motivated to use the annual reports of the companies and online databases like ACE Analyser, PraXis of CMIE. Through this activity students can easily apply the theoretical concepts to real time data of companies. This activity also helps in increasing the research aptitude of the student and in that way it helps to make the students corporate-ready.
In order to acquaint students with the challenges of entrepreneurship, E-Day is celebrated at the Institute. Students run a small business for one day with a limited seed capital. Students get actual experience of planning and executing a business idea. Various management lessons like innovation, creativity, team work, crisis management are learnt with the help of experiential learning. Through this activity, students get live experience of start-up scenario.
3. Teaching Beyond Classroom:
To stimulate cross –cultural sensitivity among students, students are taken to un-conventional set-up. Students visit Shrines of different religions and share their leanings in the class. This helps students to develop an inclusive and open mindset and promote inter-faith dialogue and religious harmony. Under the Centre of Excellence for Leadership and Entrepreneurship, students visit Kala Ghoda Festival. During the visit, students interact with entrepreneurs and sellers and discuss the employment of innovation and creativity for small business and social awareness.
4. News Analysis:
To help students link concepts of Managerial Economics with actual business situations, News analysis sessions are conducted in the class. Students read articles from Economic Times and analyse the article with the help of theories taught. Through this interesting way of learning, students understand how to apply concepts to real life situations. With an opportunity to test their understanding of Managerial Economics, students develop their knowledge on business and economics and thereby enhance their employability.
5. Budget Live:
The Union Budget is a financial statement for a fiscal year. With the purpose of making students understand the Union Budget, they are given detailed inputs on components of budget, industry expectations from Budget before the announcement of the Budget and expert evaluation after the budget is announced. Students understand how the Budget is structured and how it impacts different sectors. The session begins with understanding of budget terminology, followed by a live streaming of the Hon. Finance Minister’s speech. The results of Economic Survey and global events impacting the Indian economy and the industry expectations from the budget are discussed. The discussion held in the class provides the students an opportunity to comprehend the process and outcome of the Union Budget.
6. Collaborative Teaching:
Collaborative teaching is practiced and encouraged in the Institute as the benefits of collaborative teaching are many. With proper planning and mutual understanding and coordination, multiple faculty members take one subject. Advantages of collaborative teaching are better lesson plans, more challenging assignments, greater learning for students, faculty backup in case of an unplanned cancellation of session, exposure of students to different perspectives of the same topic, more inputs given to students with respect to feedback, areas of improvement, counseling, guidance, better assessment of students and many more. The result of collaborative teaching is definitely positive. Enhanced learning happens by the students due to perspectives of multiple faculty members handling the same subject.
7. Online Quizzes:
Online quiz is a way of conducting test to measure the understanding of the participants on a given topic. Faculty members use various platforms like google-quizzes, Flubaroo, Quizstar for designing and conducting the online concept/midterm tests. It serves as an objective measure for analyzing student performance. Students can attempt these tests using various devices like mobile, laptops or desktop.
8. Movie Clips and Videos:
Movie clips and Videos help to communicate a topic in an engaging and insightful way. It provides students deeper understanding of the concepts. It helps by combining learning with a source of entertainment which is an ideal way of getting the most out of the young minds. Faculty members make use of these technology driven aids while teaching various concepts.
9. Role Plays:
Various subjects in management education require understanding of real life scenarios. Role-plays are the teaching methods which help to engage students in effective learning. It builds confidence, creativity, communication, physical development and problem solving. Along with being a fun activity, it also allows students to get into a character and act out real life role or fictional performance. They are able to apply concepts in a relevant context. It helps students to excel and think beyond the confines of the classroom settings.
Business Simulation is brought through German Simulation Pvt. Ltd, subsidiary of iBizSim, Germany. It is used as a teaching and learning tool. The instructor defines the learning goals and the students use the simulation as a learning tool. The emphasis is shifted away from the results of the simulation to the learning experience. Students learn concepts of strategy, planning controlling and decision making. The focus is on team work. The students manage the simulated company for 8 quarters, divided into learning and doing phases. They develop spread sheet templates for planning and uses the decisions in the Business Simulation application. Every period, based on the results the students fine tune their company’s goals and take decisions. The last part of the simulation is the reflection phase, where they analyze the results of the company. Understand and explain the differences between the expected, planned values and the achieved, actual values, and submit their learning.