MBA

RISING TRENDS IN ERP

The technological giant ERP of yesteryear are going the way of the dinosaur, and the future looks promising with a growing number of enterprise system changes. Here are seven major developments that you might be interested in:

 

1. ERP decisions getting tougher with growing choices.

With growing developments in the ERP and technological advancements, specialized ERP systems comes into play. Companies find it difficult to choose the appropriate and relevant ERP software for the same.  Other than integrating specialized products into their own business operations, some are building out their own cloud-based specialized solutions

 

2.Big Data is the new buzz

 In the era of growing amount of information in society on an every, Business intelligence can be utilized to better understand customer trends and how to optimize inventory and margins.

Having powerful, cloud-based platforms allows companies to use predictive analytics for business operations at molecular level.  For making real-time operational adjustments and better business analysis, ERP software comes as an effective platform.

By enhancing their core ERP systems and by adding cloud-based point solutions for services like human capital management, CRM [customer relationship management], expense management and other functions, companies are going the way of data enabled ERP solutions.

 

 3.Intelligent ERP systems

 In the era of increased concerns over security and smart management of works, ERP systems are going the intelligent way. Tighter security over IoT and shared data has been implemented by ERP. Intelligent ERP systems employs newer technologies such as artificial intelligence, machine learning   and predictive analysis

 

 4. ERP Adoption by small and midsize enterprises

ERP is no longer restricted and confined for large enterprises. With increased usability and previously mentioned cloud deployment options, small & medium companies are resorting to value enhancement through. With the advent of reduced costs to implement and deploy newer technologies, ERP is growing as a viable resource for companies of all sizes.

 

5.ERP and Social Media Integration

ERP vendors after observing the value and growth of social media have incorporated social media presence into their systems. ERP systems have been integrated with Sales, Customer Service and Marketing to gain insights about customers and to be in alignment with their needs, pains and requirements, allowing for purposeful marketing activities and increased brand loyalty.

 

Skill

SKILL INDIA- CAMPAIGN TO TRAIN THE UNSKILLED

Skill India was established for the reason of training the unskilled workers and giving them a secured employment. It was also launched with the objective of improving the potential of Indian workers . This has been helpful to the poor and underprivileged because they get the benefit of employment.

Approved for another four years (2016-2020) to benefit 10 million youth.

Individuals with prior learning experience or skills will also be assessed and certified under Recognition of Prior Learning (RPL). Under this Scheme, Training and Assessment fees are completely paid by the Government.

Key Components of the Scheme:

  • Short Term Training:

The Short-Term Training is expected to benefit candidates of Indian nationality who are either school/college dropouts or unemployed. Duration of the training varies per job role, ranging between 150 and 300 hours. Upon successful completion of their assessment, candidates shall be provided placement assistance by Training Partners (TPs). The entire training and assessment fees are paid by the Government.

  • Recognition of Prior Learning:

Individuals with prior learning experience or skills shall be assessed and certified under the Recognition of Prior Learning (RPL) component of the Scheme. RPL aims to align the competencies of the unregulated workforce of the country

  • Special Project:

 Special Projects are projects that require some deviation from the terms and conditions of Short Term Training under Skill India for any stakeholder.

  • Kaushal and Rozgar Mela:

Social and community mobilization is extremely critical for the success of Skill India. Active participation of the community ensures transparency and accountability, and helps in leveraging the cumulative knowledge of the community for better functioning.

  • Placement Guidelines:

They make sure that the knowledge and skill learned by the workforce is put in use by creating employment opportunities and demands in the market. Efforts are made to provide placement opportunities to candidates, trained and certified under the Scheme.

 

  • Monitoring Guidelines :

It is seen to it that ambitious standards of quality are maintained and Inspection Agencies shall use various methodologies, such as self-audit reporting, call validations, surprise visits, and monitoring through the Skills Development Management System (SDMS). These methodologies shall be enhanced with the engagement of latest technologies.

Check out:MAKE IN INDIA

The scheme will be implemented through the National Skill Development Corporation (NSDC).

Enterprise Resource Planning

MASTER OF ENTERPRISE RESOURCE PLANNING MANAGEMENT

Enterprise Resource planning (ERP) management  is a course that helps student learn about SAP ERP business processes  across Financial Accounting, Human Resources, Materials Management and Sales & Distribution and learn how to design, configure and perform business transactions related to these modules on SAP ERP system.

ERP uses integrated applications to manage important operations, to support all functions conducted in the organization such as Sales & Marketing, Finance & Accounting, Production, Procurement & Supply Chain.

Learn more about Enterprise Resource Planning: ERP-WHAT IS ENTERPRISE RESOURCE PLANNING?

Students gain practical experience in designing SAP Enterprise structure, configuring basic SAP ERP transactions. After the course, students may get employed as ERP Business Analyst in ERP Consulting Organizations or Enterprises using ERP Systems.

This course helps  students gain knowledge and increase their potential/ capability of being successful in ERP. After finishing this course, students should be able to understand business processes across various functions of an enterprise and how to implement and maintain a SAP ERP system, considering the business context of the enterprise.

This course comprises of following modules with integrated mix of technical, organizational communication and problem solving components:

  1. The Information Systems Professional (BCO6672)
  2. Business Research Methods (BMO6630)
  3. Enterprise Resource Planning Systems  (BCO6603)
  4. Business Process Engineering (BCO5501)
  5. Organisation Change Management (BMO6624)
  6. Enterprise Resource Planning Systems Implementation (BCO5651)
  7. Applications Programming Techniques (BCO5647)
  8. Business Research Project (BGP7730)
  9. Computerised Accounting in an ERP System (BAO6714)
  10. Human Resource Information Systems (BMO5565)
  11. IS Project ( JES005)
  12. Elective (Choose 1):

i) Material Management (JES0001)

ii) Sales & Distribution (JES002)

iii) Customer Relationship Management (BCO6604)

Following are the certificates that students receive after completing their course in Enterprise Resource Planning Management:

  • SAP Alliance Certificate : BCO6603 Enterprise Resource Planning Systems
  • SAP Alliance Certificate : BCO5501 Business Process Engineering
  • SAP Alliance Certificate : BCO5651 Enterprise Resource Planning Systems Implementation
  • SAP Alliance Certificate : BCO5647 Applications Programming Techniques
  • SAP Alliance Certificate : BAO6714 Computerised Accounting in an ERP System
  • SAP Alliance Certificate : BMO5565 Human Resource Information Systems

CONCLUSION:

To conclude, this course is going to be an additional factor in increasing a students skill in being an ERP business analyst. They can also achieve a successful career as companies are seeking ERP business analyst thus making it a career which is in high demand.

ERP

ERP-WHAT IS ENTERPRISE RESOURCE PLANNING?

Enterprise resource planning is a software that uses integrated applications to manage important operations, to support all functions conducted in the organization such as Sales & Marketing, Finance & Accounting, Production, Procurement & Supply Chain. This enables the departments of the organization to be connected. ERP application is used by both large businesses and small businesses.

There are various ERP modules and vendors. Some of the modules are product planning, material purchasing, inventory control, marketing, finance and HR. Businesses combine modules to manage back-office activities. Improving accuracy of financial data, better project planning, employee life-cycle and many more.

 

The vendors for large business ERPs are SAP and Oracle who are the biggest followed by Epicor, Infor and Microsoft. There are various ERP trends such as mobile, cloud, social and two-tier ERPs.

 

FEATURES:

  1. CRM:

Helps to maintain good relations with the customers and provide services by helping them to clear their and queries. Maintains proper growth of the business.

  1. Monetary Management(Finance):

Enables to decrease the documentation process and maintain the financial records.

  1. Customization:

ERP applications with customization facility is an important feature as business workflow changes from time to time.

  1. Supplier and Purchase order management:

The supply chain and production modules are integrated with the purchase module.

  1. Human Resource:

Seen as one of the most key features, it helps the organization to track the time taken, performance of the employees among various other things.

  1. Manufacturing:

It includes various functions like controlling the sales and distribution plan, Production schedule and many more.

HOW IS IT USEFUL IN THE MARKET/COMPANIES?

ERP is a very useful tool. It helps bring accuracy, consistency, and all the data/information is managed in a systematic manner. Moreover, the feature of the application which is to keep the departments and various functions of the organization integrated is the most beneficial characteristic.

Also READ: MASTER OF ENTERPRISE RESOURCE PLANNING MANAGEMENT

ADVANTAGES:

  1. Increased Productivity
  2. Managing day to day activity made easy
  3. Improved Decision Making
  4. Reduced Operation Cost
  5. Security
  6. Better Workflow
  7. Visibility

DISADVANTAGES:

  1. Cost of Planning
  2. Time-consuming Projects.
  3. Difficult to use
  4. Measuring cost/payback is difficult.

 

NEED AND IMPORTANCE:

  • Saving Money
  • Better Analytics
  • Improved Productivity
  • Flexibility
  • Consistency
  • Accuracy
  • Efficient
  • Standard Procedures
  • Improve Quality of the business.

 

CONCLUSION:

We can conclude by saying that enterprise resource planning is an application that helps the business run smoothly while managing all the functions at the same time which also explains the time-consuming factor. The ERP professionals are then too high in demand for their ability bring accuracy and a stable workflow in the organization/business.

 

DIGITAL

DIGITAL INDIA: DIGITALLY EMPOWERED SOCIETY

The campaign of Digital India was started or launched on the basis of empowering the society. Changing the working of ecosystem of public services with the help of technology. When e-Governance was not able to create a strong impact that was when digital India came into the picture. The program was launched by Prime Minister Narendra Modi on ‎1 July 2015. It was brought into action when it was felt necessary that e-Governance needed a push to increase inclusive growth which includes electronic services, products, devices and job opportunities.

“We want to have one mission and target: Take the nation forward- Digitally and Economically.”- PM Narendra Modi.

The campaign focuses on three main objectives:

  1. Digital Infrastructure as a core utility to every citizen: Availability of high speed internet as a core utility for delivery of services to citizens. To give identity that is unique, lifelong, online and authentic to every citizen. Mobile phone & bank account that allows citizen participation in digital & financial space. Easy access to a Common Service Centre. Shareable private space on a public cloud.Safe and secure cyber-space.
  2. Governance and Services on Demand:  Integrated services across departments or jurisdictions. Availability of services in real time from online & mobile platforms.  Digitally transformed services for improving ease of doing business. Making financial transactions electronic & cashless.
  3. Digital Empowerment of citizens:  Citizens not required to physically submit Govt. documents / certificates

The campaign has also launched various initiatives to help the citizens.:

  • Digi Locker
  • MyGov.in
  • e-Sign Framework
  • Swach Bharat Mission mobile app.
  • National Scholarship Portal
  • e-Hospital
  • Digitalize India Platform
  • Bharat Net
  • Wi-fi Hotspots
  • 10 Next Generation Network
  • Electronics development fund
  • Centre of excellence on Internet of Things.

What are the advantages of this campaign ?

The main advantages of this campaign is that it will help the rural population of India. It will empower them to use the services. The government will be able to offer their services to the public online. The identification will be done digitally. An advantage to both large and small enterprises. Increase jobs, reduction in maintaining documents. It can be accessed all over the world.

What are the disadvantages?

The disadvantages are simple…will it be safe? how will the rural population manage if they face some problem? what about the vendors? and many other general questions .

Read more current affairs related articles here: /2017/04/18/initiative-makeinindia/

CONCLUSION:

This campaign is definitely going to help in increasing our economy, but if not taken care of the problems that come with this program can hamper the progress. Rural population will be at advantage but they have to be informed about the ways to use the online platform.

 

5 THINGS TO KNOW BEFORE LAUNCHING YOUR STARTUP

Entrepreneurship is a path of constant learning and route to self-development. Following are the list of 5 most important things that entrepreneurs must know before they launch their first startup:

 

1.Your passion should be your motivation

For becoming a successful entrepreneur, you must definitely take charge of your dreams and ambitions. You might have to take paths not yet trodden and aim to achieve the unattainable.

 

2. Skill of survival is most crucial

Most people might resign or take a temporary off from their regular paying jobs or steady sources of income before starting their entrepreneurial journey. This might pose a severe problem for most people to deviate from their usual living style. You must be mentally adapted to the initial difficulties that may arise. You can also try for part time jobs making sure that they don’t eat into your productive time spent towards development of your own venture

 

3. Don’t wait for “right moment” to start

In reality, there is no perfect time to start something new on your own. The best time to start is NOW!

The most critical part of your entrepreneurial journey is accomplished once you have taken the deep dive. After that initial plunge, all others fall in place. The problems and difficulties that may arise in your journey can be best tackled only once you have the direct experience with the same. Predictions and forecasting might only delay the start time of your venture.

If you truly believe in yourself and your idea, your self-confidence, and passion will drive you through the initial tough times.

 

4.Work to express not impress.

One of the most important mantra every successful entrepreneur should keep in his mind is to work for his self-satisfaction and contentment. It is a common tendency of human mind to be deviated from the original aim by trying to fit in themselves as per the expectations of the society. When you are on your own venture, after quitting your job, do not work to impress your parents or your friends, work to express yourself.

Work fearlessly, use your gut and do not be shy to take risks

 

5.Execution is your core strength.

No matter how excellent your idea might be, unless you have a through and persistent plan for execution, you are signing up for a difficult journey. Invest enough time in knowing your audience and customizing your product/services according to the same.

Don’t just focus on financing of your ideas, but also in finding and recruiting the right talent required for your venture.

 

Natural born entrepreneurs never lose hope and leave their passion, no matter difficult and rocky the way gets. All the best for your entrepreneurial plunge!

CAREERS AFTER MBA IN I.T

 

The marketplace for professionals with advanced, specialized IT management skills will remain strong for years to come. The Bureau of Labor Statistics’ long-term outlook is that by 2018, careers in information technology will expand to more than two million new jobs.

Following are some of the major and rewarding career opportunities for people who are aiming at enhancing their IT management skills through MBA in IT:

1. IT Consulting

         a. ERP Consulting (SAP Functional Consultant/Oracle Consultant)

 An ERP consultant deals with helping people out with the full implementation of an ERP project, from matching business requirements with the right software to managing change within the organization as a result of the software implementation.

ERP consultants typically specialize is ERP software like SAP, Oracle and are among st the highest paid due to the complex nature and importance of ERP projects. Getting yourself certified in SAP or Oracle will open your doors to a promising future, open new global job arenas and help you to position yourself as an expert in industry.

       b. Cyber Security/Risk Consulting

In this era where the world is going digital, the threat of safety and security online is of prime concern in all business enterprises and the scope of risk/cyber consultants are on an all-time high. The Security & Risk Consulting practice provides a broad portfolio of services to address the information security, risk and compliance needs.

IT security consulting deals with identifying vulnerabilities and assessing real business risk, meeting safety standards and other security compliance mandates, devise security and governance programs that fit a client’s environment, and help them recover from and prepare for a cyber security breach.

     c. Business Analyst

Business analysts play a key role in working with clients to identify and analyze the requirements and providing solutions. Business analysts work closely with both internal and external stakeholders in delivering the optimum solution. Business analysts play a key role early on in the project life cycle and are critical to the success of the project.

2. Project Management

Software project managers are responsible for the successful delivery of complex IT projects. The skills of a successful project manager are broad and diverse. Their work includes resource management, project plan development and execution and are key task masters in ensuring that the software is delivered on time, within budget while meeting the requirements.

 

IS RURAL MANAGEMENT AT WELINGKAR WORTH IT?

Rural management has become a prime focus in the present time. India’s rural population is more than that of the urban which automatically creates a large market exposure for companies and gain customers at large.

Rural management consists of handling products that fulfil the need of the people in the rural areas and keep them satisfied with the service.

RURAL MANAGEMENT COURSE:

The course focuses on handling and managing agriculture business and using the management studies in rural point of view. The course gives students case studies and field projects which lets them know the real situation of the rural market. It teaches them how to talk to the people/villagers and know their problems.

Image result for rural management welingkar

RURAL MANAGEMENT AT WELINGKAR’S:

The institute’s objective is to nurture students and make them understand the problems of the rural sector and provide all the facilities related to technology, education and services that are enjoyed by the urban population. To make them entrepreneurs and NGO representatives, instil leadership qualities and protect the rights of the rural population.

Their curriculum mainly focuses on Management disciplines of Leadership, General Management, Environment, Finance, Marketing, Operations, HR, Research based on rural context and lets them have a humanitarian approach rather than customer-market based.

The institute also provides extensive experimental learning where the students are given Rural internship of 5 months and 10 days during their 2 years’ program. Students are also given a chance of getting placed in companies through their placements programs. There has been a positive response and the companies that hire are:

  • Mahindra Finance Ltd.
  • Godrej Agrovet Ltd.
  • Pidilite Industries Ltd.
  • GSK Ltd.
  • Reserve Bank of India
  • Su-Kam Power Systems Ltd. And many more….

They also conduct projects which are focused more on the rural areas which takes place in the first year of the program. They also have industry projects which include Cadbury- Modelez International Ltd and Titan Industries. They organize various events which is done by the rural management team.

There are other extra-curricular activities which help the students to gain interest in the course. It lets the students get a broad exposure of society work, NGO’s and professional exposure through workshops and seminars. Students are also given international exposure under student exchange programs.

Read: RETAIL MANAGEMENT- THE MOST SORT AFTER COURSE

CONCLUSION: 

In the end to answer the question and clear the numerous doubts that always occur in our mind before going to a college or even before taking up the course is that YES Welingkar Institute is worth for Rural Management as they not only provide with the theoretical material but also a real on-field experience which will help the students to take decisions independently in the future.

Which makes them ready to take on the problems or obstacles that come their way either when they are entrepreneurs or working for an NGO or Company.

RETAIL MANAGEMENT- THE MOST SORT AFTER COURSE

 

Retail Management is done with the aim to make a customer’s shopping experience convenient and easy. It is also a way to connect with customers and keep them satisfied.

  • Retail management Course at Welingkar:

This course manages to teach and guide the students on how to maintain and retain the company’s loyal customers and also deliver goods and services according to the likes and dislikes of the customer. It gives knowledge about how to bring profit by keeping your customers happy both at the same time.

A retailer plays an important role in the chain of distribution i.e. from manufacturers to consumers. They act like a link between the two. Retailers are the medium through which the product information, specifications and all other details are given to the consumer. The course includes Retail store operations, Retail selling skills, Consumer buying behavior, Retail strategy and many more.

  • Why is it the most sort after course?: 

Retail is an area which has the widest scope. It includes various aspects that play a major role in business. Customers are the main target and through retail you manage to understand what a customer wants. It is important to provide goods and services that satisfy the customers. The retailers act as a feedback medium between the manufacturer and consumer.

Retail will shape students’ knowledge about the rapidly evolving retail industry which will bring out strategies that will help companies to connect with their loyal consumers. An MBA in Retail Management is the ideal foundation required to begin a career in retail. This course enables the students to adapt to the volatile changes in the retail market.

The course will help you learn how to manage the goods and services that are sold to consumers. Consumers don’t like to spend time waiting for their product while a retailer looks for it. Mostly it happens at pop stores also known as kirana stores. Companies like to avoid such situations. Which is why through retail management companies manage their products and services in the retail stores like D-MART and BIG BAZAR.

The course also teaches introduction and concept of retail management, retailing trends, pricing and merchandising, segmentation, relationship marketing and information technology in retailing. The course helps to acquire jobs many retail stores like

  • Super Markets
  • Hyper Markets
  • Shopper’s Stop
  • Westside
  • Pantaloons
  • Lifestyle
  • RPG Retail
  • Crossword
  • Wills Lifestyle
  • Globus
  • Piramals
  • Ebony Retail Holdings
  • Reliance
  • Big Bazaar
  • Regal
  • Metro
  • Bata

These retail chains act as the middlemen and store the good and services. Management ensures that the customers  find their desired product at the right place and also at the right time. Nowadays, people have a fast lifestyle where they don’t waste time on one particular thing or product. Furthermore, several products and services are easily substitutable. Online shopping which makes electronic payments, provides door-step delivery and couriers makes customers more powerful.

This course will help students get practical experience and equip them to tackle ever-changing retail situations, make strategies and arm them with the right skill set to fight their competitors and be an asset to their company. This in turn increases scope and vacancy for the employment, making it the most sort after course.

Read more articles: IS RURAL MANAGEMENT AT WELINGKAR WORTH IT?

Retail Management Recruiters at Welingkar:

  • Aditya Birla – Pantaloons
  • Madura Garments
  • Landmark Group
  • Shoppers Stop Ltd.
  • Reliance Retail Ltd.
  • Arvind Brands Ltd.
  • Infiniti Retail India Ltd (Croma)
  • Inorbit Malls
  • TESCO
  • Globus
  • Bombay Dyeing
  • RPG Group

BUSINESS DESIGN AS A COURSE FOR PGDM

Business Design you could say is a blueprint to the final project/product or even a company, which is the case. It basically helps you to figure out what people/customer’s are in need of at the moment and the urgency of it. It helps you to look out for the pros and cons of the idea/product/goal.

  • Business Design as a Course:

A course that is specially created to help students gain knowledge about how to create a proper layout before going for the kill or you could say launch of the product. It is useful to know how to help a firm or business in developing a design that suits the business mission and vision and what it actually wants to offer to the market and its customers.

Business design is one of the most important factors, because of which you know what the likes, dislikes and the need of the customers. You get to know what the current market trends are and also test your product before bringing it out in the market.

Business Design

  • Business Design From Welingkar Institute Of Management and WHY?

Welingkar has been host for many PGDM courses over the years, one being Business design itself. The institute offers this course with a view to enable and make the student capable of handling and designing for various business strategies. Their main aim is to make designers understand how managers handle the business. This will help both the designers and the managers to work together and understand the key points related to the business.

The need for innovation has increased and growing at a fast pace. Customers are going for products that are new, innovative and also is an whole new invention. Products that fulfill their needs and also wake-up the ”wow” factor are the one’s consumers are looking for.

These things are kept in mind by the institute and they make sure that the students get maximum exposure and experience from the real market. Design is mostly concerned with the creation of the product, system, services and communication. Designing helps to analyze and visualize the product and its functions, process, uses, etc.

Design helps to move the idea from a black canvas and move it to a full proof innovation by going through various stages. The institute makes sure that the students get the rural as well as urban exposure. They are also given opportunities where they can gain experience globally. These are conducted by taking the students on field trips which not only gives them theoretical but also practical experience.

The reason to choose Welingkar is that they make sure to develop the thinking of their students in terms of design,innovation and also entrepreneurship/intrapreneurship. They also see to it that they give knowledge in an interactive and innovative manner. They also conduct Experimental Project Work and also Evaluation of the work and performance of students respectively.

Their curriculum includes Orientation to Design thinking and Innovation,  Design thinking and Innovation in Product based industries, Design thinking and Innovation in Service industries, Design thinking and Innovation w.r.t. Business Models and User Experience, Strategy, Capstone Research Project (Academic Research Project).

Through these experiences they help students  create new product, systems and help in shaping a business which will in turn help them start their own business. This will will not only boost their confidence but also help them to go for new startup ventures.

Check out: E-COMMERCE THE CURRENT BUZZ.

Recruiters at Welingkar are:

  • AC Nielsen
  •  CMIE A.C. Nielsen
  • CRISIL
  • Tata Elxsi
  • LG Electronics
  • Whirlpool Idiom Design
  • L & T
  • Samsung Electronics India Pvt. Ltd.
  • Godrej Industries
  • Lokus Design
  • Johnson Controls
  • Bosch India