IILM Notes 13th August 2020
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Thursday 13th August ‘20
Economy and Business
Everyone knew it was coming, but the anticipation made it no less ugly: The US economy shrank an annualized 32.9% in the second quarter from the first. Investors should dismiss the historic number—but not just because the worst of the pandemic’s toll is over. What Investors Should Watch for Economic Insights During the Pandemic
Corporate leaders must reframe the current pandemic crisis and recession as a historic opportunity not only to reinvent their company’s business models but to reshape the entire economy. Navi Radjou, an innovation and leadership author and fellow at Cambridge Judge Business School, explains that to build new industry value chains that benefit people, society, and the planet, we need a new economic operating system. The Rising Frugal Economy
Amid unprecedented uncertainty, planning won’t be enough. McKinsey senior partners envision how the COVID-19 crisis will transform entire industries in the coming 12 to 18 months. Dame Vivian Hunt, Kevin Sneader, and Bob Sternfels share their perspectives on leadership in the next normal. The Future of Business: Reimagining 2020 and beyond
Management and Leadership
Challenged by the global pandemic, CEOs have made four shifts in the way they lead that hold great promise for both companies and society. Will they build on this unique moment, or return to the ways of the past? The CEO moment: Leadership for a new era
Whether we realize it or not, we negotiate every day. But when we approach these situations as a win-or-lose battle, we’re already showing resistance, and setting ourselves up for difficulty. But what if you reframed the whole idea, to think of a negotiation not as a fight, but as a problem-solving exercise involving emotions? The Art of Negotiation: How to Get More of What You Want
If you’re a leader, it’s likely that not everyone who works with you will agree with the decisions you make — and that’s okay. Leadership involves making unpopular decisions while navigating complex relationships with colleagues, partners, and clients. But often, you will need to get buy-in from these constituents, and therefore you will need to convince them to change their mind. How to (Actually) Change Someone’s Mind
Health
Getting more sleep is clearly sound advice, but let’s face it: it’s not always possible to follow it. There will be plenty of days when you work after getting an insufficient amount of sleep, or perhaps a night of poor-quality sleep. When that inevitably happens, what should you do to get through the day? You Need More Sleep. What Should You Do If You Can’t Get It?
The relationships that are thriving right now are the ones where the couple are curious about how to process and better understand what is happening to them and around them. Jo Nicholl, a Psychotherapist and Relationship Coach, has been working as a therapist for the last 25 years with couples and individuals. In the August 2nd issue of Newsweek, she shares her views. This Is What I See Couples Struggling With In The Pandemic
Higher Education
There are two factors why Indian universities couldn’t do what a national education policy is now trying to achieve. Professor Dinesh Singh, optimistic about the New Education Policy if implemented in the right way, points out the failure of universities to experiment and to incorporate best practices. He lists some achievements of the Cluster Innovation Centre during his tenure as Vice Chancellor of Delhi university which helped many students to start companies which have become successful. Indian universities didn’t need NEP to change things. But feared UGC too much
Covid-19 has put immense pressure on all universities. But the problems are about to get particularly severe for those in America, Australia, Canada and Britain that have come to rely on international students to fill their coffers. Digitalization is a great force which will change a lot in the days and months to come. The Economist article looks at Universities and predicts what will remain and what will not. Covid-19 could push some universities over the brink
From IILM
Annuradha Gandhi, Professor of Design at IILM School of Design analyses how technology is driving rapid changes in the education industry. Use of online platforms, AI, augmented reality, immersion technology is bringing a revolution that has unprecedented reach and impact. Paradigm Shift in Higher Education
Dr. Megha Pushkarna, Assistant Professor of Psychology and Anubha Gera, student at IILM University elaborate why addressing mental health issues is so imperative to the overall health and growth of an individual and how these should be treated and what can be done from an early stage to create awareness about mental health. A Healthy Mind is the Greatest Treasure to Find
Managing Yourself
This year, we are all poised on a massive professional threshold, waiting to see what a “return to work” actually looks like. Our daily habits and routines have all gone out of the window. We’re left in a sort of limbo, fretting over how long it will last and what will come next. Gaining greater clarity of mind on how we maneuver the new territory will help us all. Here are some ways that will help you enter the post-Covid period with less anxiety and more clarity. From Harvard Business Review Anxious About What’s Next? Here’s How to Cope
Finally…
As we celebrate India’s 74th Independence Day, we pay our humble respect to the Father of our Nation, Mahatma Gandhi, the person to whom we owe our independence. Last year, the Mahatma’s grand-daughter, Smt Tara Gandhi Bhattacharjee, visited IILM and spoke to the students. She reminisced about her childhood with Gandhiji, his simplicity, some of his thoughts and the way forward for the younger generation. She had so rightly said, “Your motto in life should be hum honge zimmedar (we shall be responsible) – to become responsible citizens and human beings.” Remembering Bapu
We conclude with Gurudev Rabindranath Tagore’s words…
Where the mind is without fear and the head is held high;
Where knowledge is free;
Where the world has not been broken up into fragments
By narrow domestic walls;
Where words come out from the depth of truth;
Where tireless striving stretches its arms towards perfection;
Where the clear stream of reason has not lost its way;
Into the dreary desert sand of dead habit;
Where the mind is led forward by thee;
Into ever-widening thought and action;
Into that heaven of freedom,
My Father, let my country awake
Let our minds be free and our heads held high. Take care and stay healthy.
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