MBA Archives | Adamas University

Digitalization in Marketing Process-A New Skill in Marketing Specialization

Marketing is the process that satisfies human and social needs. It is nothing but a value-creation process. If we look into the marketing process, the job of most marketers is to design and develop the value in such a way that attracts customers and makes them happy buying. But this scenario is changing very rapidly due to the pandemic and the huge development of digital technology. Now market and marketing processes are more digitalized than the conventional marketing system. The job of a salesman is changing to the digital selling process. Marketers need not make a flow-up plan, it is automatically set up by the technology and responses are coming within a specific time. So, the process becomes more hybrid through embarked digitalization in the system. Therefore, it is imperative that using of digital technology in marketing and its associated function is a substitute for marketing success. Looking into this, concept marketers are focusing more on digital expert professionals than the salesman. Due to the huge demand for this, manpower is scarce. This is one part of the other way the process of marketing is also changing. Like the development of promotion strategy, communicate with the customers and find out the most effective methods for approaching customers. Though all these are experience stages, on the other side to get succeed in the fast-paced environment they always look into the audience’s requirements, it is difficult to stay ahead of the audience because market nature is monopolistic.

The recent trend in the Marketing Process:

Mass marketing converted into customized marketing and especially influencer marketing which is more common through digital technology like artificial intelligence, and machine learning, Marketers identify the preference of buying of customers and they try to influence them by offering more customized products. Therefore, targeting an individual is much easier than the conventional process. Development of user-generated content is another tool to identify prospects, it is a technique that allows the customer to design their product, and using digital space marketers publish those products on the web and counts the most effective design out of the available design and makes the product based on these design. Companies also do marketing through publicize the video content and using web analytics they publish it through various social media like various web pages, Facebook, Twitter, and LinkedIn, and personalizing the email. This video makes confidence the buyer about product information, brand, service, and other components associated with the product. It applies to business to business and business to consumer and both the process learn and evaluate the impact of promotion using video content in social media which makes their marketing promotion faster. The current market depends on millennials and Gen Z, they are more inclined toward digital process and most of them prefer digital buying process, not only digital buying but also other parts of marketing, they prefer digitalization. Therefore, to enhance their buying power, there is a need for mobile-optimized digital services which may be an important part for business owners and houses who are looking to attract fast-paced tech-savvy generations.

Ephemeral content is a new arena of digital marketing. Here company publishes its information through social media and they always stay on social media through standard posts, videos, and live events. Customer is not able to show the message if they do not save it or achieve it. Therefore, it makes curiosity customers give more concentration on the information. It is an effective platform for marketing campaigns.

Application of Digital Technology in Marketing

Artificial Intelligence in marketing is mainly developed with the help of three main marketing disciplines research, strategy, and action, and three levels of AI intelligence, that is, mechanical, thinking, and feeling AI. While mechanical AI entails automation of repetitive and routine tasks mainly covering market research, strategy, and standardization, thinking AI relates to processing data for new insights and decision-making, and feeling AI refers to interactions with humans or analyzing human feelings and emotions. Another, important techniques are big data analytics, using these techniques marketers predict the outcome of the customers and it also techniques which help marketers to identify the preference, maintain inventory management, and manage distribution and logistics system. Machine learning is another digitalized technique that helps marketers to do proper market segmentation, it processes customer data and analyzes it for discovering recurring patterns across various features. It helps to do proper clustering of different various demographic segments and helps to measure the preference difference between various demographic segments. Using blockchain analysis marketers maintain the logistics system of the firms and maintain a smooth and faster delivery system. One other important area used by blockchain technology like user verification, Blockchain can be employed through advertisement networks and reduce the interface of agents and middlemen and help those users who want the information by clicking through the ad system and combat fraud. It helps advertisers to identify the source of fraud and advertisers can make more user interface design.

Therefore, digital technology must be not only an effective tool for modern marketing but in the future, it should be the only way for business growth and survival. Most large-scale firms have started their marketing practices and maintain all the marketing processes from taking the order to supplying feedback through digital space. In India, most middle-order firms were trying to adopt the blended process, with a few parts of technology-based and another part traditional because of the nature of Indian consumers. It is a challenging task for a small firm because its market and investment level is low. Therefore, the marketing professionals need to develop some skills that small firms can be benefitted without much more investment. Last but not the list, it can be commented that the traditional skill of marketing will not work for long. Digitalized skills need to learn by the marketing professionals at the time of career selection. Few specialized skills need to be imparted to get a better market understanding.

MBA in Business Analytics- A New Career Path for Management Professionals

Day by day the industry structures are changing. In the same way markets are also changing and markets become more customized focus than mass focus. If we look into the promotional aspects of marketers, their objective is not to inform the consumers but they try to develop attention and convert the attention into addiction. With the help of new technology like artificial intelligence, machine learning, internet of things and big data analytics, marketers are evaluating prospects needs and wants and designing their products or services which is more inclined to satisfaction of customer desires. So, the ultimate goal of the current marketer not to understand their requirement from the retailers rather develop the market plan which is fit to customers. Therefore, it is important for business professional for redesign market policy and predict the market situation in regular basis. Looking into this thought in mind, we also observed that job of marketing manager become market forecast professionals which help them to understand market rhythm and changing market prospect in very faster way. Design their offering in such way which is more addiction nature than seasonal buying. If customers become addicted towards a company offering, then repeat purchase happens easily. This concept now going to be the mantra in market in post pandemic era where customers are more preferring digital buying than physical buying pattern. In this connection, it is concern for business professionals to develop their skill which is more on analytical base rather simple selling methods. Therefore, business analytics is a program which give all round development of analytical skills which helps business professionals to understand, to predict and to solve customer problem in better and accurate manner.

Conceptual framework of business analytics

Analytics have been classified into three parts descriptive, predictive and prescriptive. Descriptive analytics analyze the past event of the firm in various domain which help marketers to understand the business situation. Predictive analytics create detailed forecast of business situation and point out the area where business system fails. It helps marketer to take proper actions on those area where business process needs to develop for getting better sustainability. Prescriptive analytics give an insight regarding the possible action which can be appropriate for different business situation. It helps firms to make a better decision by optimizing result comes from descriptive and predictive and also recommend the associated risk involved in the process. It develops a sustainable model that can be applied to decision making in business. Therefore, it is obvious to understand a business problem, analytics become most necessary methods in current context where switch over tendency of the consumers are high as because variety of market offering. In the new normal situation, the urge and need of marketer to analytics professionals are very high because in normal eyes, it is very difficult for marketers to reach into actual business problem and operational process of marketing is not limited to few routes.

Importance of Business Analytics program

Business analytics program covers a wide area of analytical application. It starts with maintain database of clients, vendors, employees, inventory, suppliers, product orders and service requests of the firm which is in unstructured fashion and make it structure. It also gives the desire methods for analyzing data. Business analytics helps professionals to make proper representation of data using visualization tools, analyze the data using various software like R, Python, Excel, SPSS, Hadoop. This program also helps professionals to understand the problem with proper logic and what tools should be appropriate to make proper prediction of business problem. This analytical tool helps marketer to design their products offering, seasonal offering, promotional methods, sales forecast, inventory management, forecasting of the firms. The analytics also help to select possible methods for sustainable business practices using modern tools like artificial intelligence, machine learning etc. This program makes students more logical based decision mind which help the to dragonize business in faster way and give some immediate solution to business which is more needed in the current situation. Uses of social media analytics, web analytics is being done through the program.

Opportunities for Analytics Professionals in Market

The demand for business analysts is very high among companies, small-scale options, and enterprises. Different sources estimates reveal that the job market for business analytics will grow at a CAGR of 14.3% by 2026. Companies are willing to pay higher salaries to analysts, especially certified expert-level professionals like MBA in Business Analytics or Executive Analytical Program. There is study by Mckinsey which mentioned a huge requirement of data scientist in India in next few years and companies are ready to offering a good package for the data analyst. As the figure near about 200000, therefore, most corporates are staring at a talent crunch and provide training to the workforce to manage their industry issues. In India, the analytics industry is predicted to grow in huge volume and industry is predicting that marketer size can increase by $111.7 billion by 2026 which is good signal for the professionals who are on the way to build their career as a data scientist.

These demand covers diversified area of business operations and few areas of business where business people need more analyst and opportunities. Therefore, an analyst professional can explore their career as a

Data scientist in bond market
Agriculture business analyst
Medical methodology (Health care analytics)
Human Resource Analytics
Stock Marketing
Finance Marketing
Manufacturing industry
Supply chain analytics in logistics firm and more.

The above discussion gives us a clear picture that there is huge demand of data analytics/ data scientist peoples as because most of the firms design their business decision based on data driven rather traditional approach. So, if students select a program like MBA in Business Analytics, it will surely give them competitive advantage in their career growth and opportunities.

References:
https://economictimes.indiatimes.com/industry/services/education/analytics-driving-demand-for-learning-growth acrosssectors/ articleshow/88890272 .cms?utm_ source=content of interest & utm_medium=text&utm_campaign=cppst

Career Opportunities Post Pandemic in Human Resource Management

The COVID-19 Pandemic had been a disaster for the entire humankind. Over the period of two years, we had a horrific experience with huge loss of life, economic slowdown, and social dissociation – a distressful journey indeed. However, as darkness ends with the dawn, the COVID-19 Pandemic is expectedly going to end with new rays of hopes and aspirations. This pandemic has unfolded many new scopes and has paved the avenues for new learning and employment opportunities.

As the global business with its international, national, and local dimensions wobbled during this pandemic, the most impacted component was the workforce with plenty of documented retrenchments due to feeble allocable reserves and surplus. It had been a catastrophe for the millions of families worldwide who lost their livelihood during this phase. However, there is an opinion that this virus-induced debacle had purged the unemployable section of the workforce retaining the competent and highly employable workforce only.

This apparent challenge is the actual opportunity for the young and energetic community of prospective employees. This pandemic has made a paradigm shift in the work process. The emergence of paperless and internet-based work processes had been observed in both the industries – manufacturing and service. The employees had to unlearn many things and learn many new things to acclimatize to the new set of business processes.

The use of information technology has become obligatory for the organizations in the present recession phase of pandemic, and the process demands more IT orientation of employees in the post-pandemic era. Business process integration is the new feature of any performing organization and the enterprise resource planning or ERP modules are being used by most of the market leaders. In addition to that, business analytics structuring the framework of presentation and analysis of data, and interpretation of results, has become an integral part of the business strategy formulation.

The students of management – both undergraduates and postgraduates are exposed to immense career opportunities nowadays when the pandemic seemingly weaning off. Although the organizations are trying to return to their pre-COVID operational modalities, the aforementioned paradigmatic change will resist the full retreat toward the “old normal”. Hence, the business process has already taken a new shape of information technology orientation.

The undergraduate and postgraduate students of human resource management can pursue their careers in ERP operations. SAP AG, the world’s one of the most renowned ERP service providers recommends the employment of the management graduates who can work as the front-end user and can enter important human resource management data in the ERP. The clients of SAP AG, therefore, follow the above-mentioned recommendations and the demand for ERP front-end users is soaring high, both at the national and international levels. In this job, the knowledge of management operations and regulatory components (e.g. the country’s labour acts or codes) is essential. Therefore, undergraduate students with thorough knowledge of these HR managerial aspects will have career opportunities to work with prominent organizations. This opportunity is equally applicable to the other management domains also.

The postgraduate students of HR Management can have the opportunity to function as backend support consultants for this SAP AG ERP. In this regard, they should be able to configure the structure of the HR operations through their IT skills and knowledge of human resource management. It is again not restricted to the domain of HR management only and shall be applicable for the other segments of management also.

The second area of opportunity is in the domain of business analytics. The HR management has its own variant termed “HR analytics” where the generic features of business analytics will be preserved with specific application areas of HR operations.

While companies have been using people and HR analytics for a long time, the roles within these areas are changing. HR analytics specialists, as a younger section of the HR community, sometimes face challenging career pathways both within and outside of the function. In view of that, the HR analytics experts must build analytical and technical competence in a field that frequently demands a high level of technical and managerial proficiencies.

Domain experience in HR is a basic qualification for an HR analyst post. HRM courses or a foundation in industrial and organizational psychology are typically thought to be extremely useful.

A background in economics, statistics, or analytics is also taken into account. People with these types of backgrounds bring a distinct set of quantitative skills that most HRM professionals lack. This background frequently necessitates additional HRM training. MS Excel expertise is a must-have talent. Most firms still use this and knowing how to combine worksheets and use Pivot Tables to analyse big amounts of data is commonly regarded as elementary.

Work experience in HR is always advantageous, as is experienced with HRIS systems. Relevant experience with the organization’s tools and systems also works in employees’ favour. Tableau, PowerBI, Qlik, SAP, SuccessFactors, and more tools are examples.

As far as the smaller businesses are concerned, they frequently struggle to find staff with the necessary abilities to assist them in making the transition from measurements to analytics to event prediction. According to Ms. Julie Schweber, of Society for Human Resource Management, this staffing gap will ensure opportunities for the undergraduates and postgraduates of human resources and other domains of management.

Work From Home (WFH) and Work From Anywhere (WFA) are two emerging industry trends that will need a remote workforce and related digitization. HR workers will need to learn technological skills in cybersecurity and artificial intelligence in the future. In order to advance in an HR job, a student must re-skill himself. Human technology specialists, culture specialists, prejudice detection specialists, and other HR positions are possible in the post-COVID-19 period.

Communication Management-Influence, persuade, manage and control the flow of communication

Commenting on language, Federico Fellini, the acclaimed Italian film director once said “A different language is a different vision of life”. The same goes for communication. An embodiment of human emotions manifested through diverse means and tools – advertisement, public relations (PR), corporate communications and so on. How can you control free-flowing human emotions? Like a bridge that tames a river to attain productive outcome, communication management controls the flow of information both online and offline through systematic planning, implementation and monitoring of all channels of intra and inter-organizational communication to achieve an efficient system of communication dissemination.

MBA in Communication Management program offered by the Department of Communication Management, Adamas University, Kolkata, trains its students on the ways to design corporate communication strategies and devising internal and external communications directives. Our program is designed and delivered according to the 40:60 Educational Model, where the classroom teaching constitutes 40 per cent while the remaining 60 per cent is field-based training. How does our media education system cater to the dynamic world of communication? Let’s explore more.

As we are aware, Covid 19 has indeed impacted the communication and media ecosystem globally like never before. The revenue of traditional media houses is dwindling. Execution and administrative work will now mostly be done by artificial intelligence (AI). Clients are demanding from agencies creative insights and strategies. This adds to already existing conditions of increased noise, lesser attention span, media cacophony, diversified media, ever-increasing influencer list and the fast-evolving social media. The complexity of media ecosystem has just increased manifold.

The success of public relations or any communication professionals will depend on achieving measurable business impact. The pre-pandemic and post-pandemic expectations from industry and professionals may vary widely. Customer “sensitivity” that is undoubtedly is on an all-time high remains vigilant about the cause and statements from influencers and ambassadors of a brand. Here comes equipping our students with adequate and relevant skills. The MBA in Communication Management program promotes ethical consideration, compassionate outlook, and socially responsible approach among the learners. We mentor 24×7. Online study materials, videos and exercises are available round the clock. Our well-entrenched network facilitates regular networking of students with distinguished industry professionals. Workshops and training sessions are regularly conducted by experts from the industry. The learners participate in national and international seminars and conferences. Internships, industry visit and familiarization tours/visits to relevant facilities enhance their skills.

We believe in Experiential Learning – a process of learning through experience, and is more specifically defined as “learning through reflection on doing”. Experiential learning, participative learning and problem-solving methodologies are used to nurture the leaders of tomorrow.

Our Information and Communication Technologies (ICTs) enable efficient interactions among students, faculty members and other stakeholders. Likewise, through Capacity-building, we “develop and strengthen” the skills, instincts, abilities, processes and resources that organizations and communities need to survive, adapt, and thrive in a fast-changing world. “As a part of Skill development, we actively (1) identify skill gaps, and (2) develop and hone those skills.

Awareness of trends in technology as a skill refers to being mindful of the technology that is recently becoming popular and is readily accepted in the market or industry. Ideal technology trend awareness skills mean a person’s ability to either correspond to the industry-wide technology adoption or surpass it, which is our endeavour is to inculcate knowledge of technology in our students.

Our focus is research-oriented. The communications industry is dynamic and ever-evolving. Our focus includes research relating to situations and techniques to address the same.

Industry Orientation sits at the core of our courses at MBA in Communication Management. Many of our mentors and advisory board members are respected figures in the industry. Internships and industry-sponsored projects by students are compulsory. Our trainees are continuously exposed to the best practices, points of view and perspectives.

Entrepreneurship is the spirit of the day, and our program actively encourages the objective of entrepreneurship that inculcates competence to succeed in the market and confidence to create new ventures, and jobs in the economy.

Our constant endeavour is to advance the agenda of Global Standards and Outreach. Our curriculum follows best-in-class global standards. We have a mix of faculty members from academia and the industry with extensive international exposure. International tie-ups and regular connections through specially designed events are our speciality.

Whether its Consumer Behaviour, Brand Management, Communication Management & Experiential Marketing or Entertainment Media Revenues or any subjects that you choose from the bouquet of the subjects that we offer – our program comes with courses like Human Resource Management, Economics, Finance, Information Technology and Soft skills to transform you into a complete professional.

Our placements and internships include compulsory industry internship. Reputed news organizations from across the country and abroad hire the passed-out trainees. The salaries offered to passed-out trainees are at par with the best in the industry.

What are you waiting for? Join MBA in Communication Management and experience the world of difference.

School of Business and Economics: Unique Aspects

On 29 July 2020, the Government of India, through its renamed Education Ministry (erstwhile MHRD), launched the National Education Policy 2020 (NEP 2020), the first education policy of the 21st century, based on the foundational pillars of access, affordability, equity, quality, and accountability, and aligned to the aspirations of the citizens of the era. For Adamas University, this path-breaking policy presents the perfect setting of its cherished aims and objectives. Since its inception, Adamas University, through the general notion of academic freedom, benchmarking with the best of the world, unshackling the quality framework, has been nurturing all its constituent schools and helping them realize the aspirations of the millennial population they serve as students and scholars.

In spite of the raging pandemic, the School of Business and Economics (SOBE), is well poised with its robust work practices, frameworks, strategies and tools to understand and manage the challenges of building a modern, international, relevant centre of excellence, catering to the unique needs of the students and the corporates that it considers as primary stakeholders. The School rests on three strong unique pillars (USPs, if one may call them):

1. Deep connect with the corporate:

In the most canonical way, business is a practice-driven field, so the deep connectivity with the corporate world is imperative, and a real differentiator in this red-ocean of management or business schools, the vast multitude of institutions operating with essentially no difference, leading to commoditization of business education in India. At SOBE, we believe that business is going to transform the world for the good of all by facilitating more and deeper communication between management professionals, scholars, and students. SOBE with most of the faculty either having substantial corporate experience or having worked as consultants to the corporate world, try to mimic through modern online teaching methodologies how the real world works to ensure employability of its students.

Ever alert to the dichotomy between what is taught and what is needed in the job place, SOBE bridges the perceptual gap between the corporate world and the world of academia collaboratively. A few programs, in cutting-edge sunrise sectors like logistics, analytics, and entrepreneurship, offered by the School are actually conducted in tandem with industry partners. The proverbial parallel worlds of the academics and the practitioners are not only divergent, but also mired in deep mutual suspicions. In these and other programs offered by SOBE, corporates are involved not just delivery of content, but in almost every facet of the scholastic activity – curriculum design, planning of evaluation methods, internship design and execution, student assessment, apart from the usual delivery of content through industry speaker series, guest lectures, best practice or case study discussions by corporate professionals.

2. International curriculum:

One clear area that the prevalent situation has brought to the fore, and compelled humanity to take note of is the fundamental assumptions behind much of our business practices. Business is integrated, supply chains cover the entire globe and borders do not restrict exchange of ideas, products and people, just like they have not been able to do with the virus! Globally, corporates are waking up to the wasteful nature of business processes, a general lack of concern for human values (echoing the maxim of end justifying the means), apathy towards the environmental and climate issues, considering any goal other than profit (and the few other variants of the notion with sugar-coated nomenclatures) as tick-in-the-box items to have to look good, rather than to be good, and many such ways in which business have been running for quite some time now.

SOBE, in tandem with its partner institutions and universities across the globe, notably from Europe, USA and South East Asia, exposes its students to the imperatives and challenges of global business with all its covenant human and world issues.

3.Digitally enabled:

The pandemic time is perhaps an opportunity to once again revisit the question of what we teach, why we teach, who must teach, how we teach, and where we teach the future business and management professionals. But the physical restrictions that it brought about forced academia to shift from the conventional classroom lectures pedagogies to digital online learning systems and processes. SOBE, along with the other constituent schools of Adamas University, made an effective move, which was endorsed and vindicated by none other than QS, and we were awarded the QS e-Lead certification, one among the early few to get it in the entire East and NE India.

Developing a scientific temper, humanism and the spirit of enquiry and reform among students in the digital environment, though challenging, is the mainstay of SOBE faculty. Gravity of the pandemics on people will humanize business schools by bringing society in their cross-hairs when it comes to research agenda, teaching curricula and outreach. With the entire World Wide Web at one’s disposal as teaching-learning tool, creativity and ingenuousness of faculty members enable multi-faceted learning among students. Unique digital pedagogies, like flipped classrooms, are being constantly developed by the faculty members to enhance student engagement and learning.

SOBE believes that education is a transformative process. How to we transform ourselves? Essentially, it is a matter of mindset and courage to buck the trend. While the rest of the business schools keep zigging the way they have been for some time now, few torchbearers need to zag and stand the ground at least for a reasonable amount of time for the business school environment as a whole to go through this transition by unlearning the old way, and relearning the new. SOBE wants to be among the pioneers to shed the image of an also-ran, easy-going, mostly local, average-placement oriented program to a unique, rigorous, global, good placement oriented force to reckon with. The best part of this is that as a nation, we know what needs to be done. It is in execution that we fail. The National Education Policy, NEP 2020, as a whole, urges us to take the plunge into this new world of excellence.