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The future of Indian Education sector
Sector Overview: Globally India ranks as one of the largest education industries. As per 2011 Census, India has grown to 74% literacy rate with recent survey reports saying that India approaching 80% rate with respect to the global average of 84%. Though the overall literacy rate shows above 70%, there is a wide gender disparity in literacy rate constitute women secured only 64.60% whereas men hold 80.9%. However, as per the 2011 census, the gap in gender disparity appears to be narrowing In India since the growth of female literacy registers 11.8% with respect to male’s 6.9%. For higher education alone, there are 850 universities and 42026 colleges and a total of 35.7 million people enrolled for higher education during 2016-17. The Indian education sector is estimated at US$ 91.7 billion in FY18-19 and is expected to reach US$ 10.11 billion in FY19-20. According to the report released by Department of Industrial Policy and Promotion (DIPP), the Foreign Direct Investments (FDI) inflow into the education sector have reached at US$ 1.67 billion from April 2000 to December 2017. Some other major investments in the recent past are, Ø Indian education sector viewed 18 merger and acquisition deals worth US$ 49 million in 2017 Ø India has signed a loan agreement with World Bank under 'Skills Acquisition and Knowledge Awareness for Livelihood Promotion' (SANKALP) Project to enhance institutional mechanisms for skills development. Some of the Government initiatives are, • Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP) and Skill Strengthening for Industrial Value Enhancement (STRIVE) launched for developing the skills of Indian youth. • NITI Aayog is launching the Mentor India Campaign which will bring leaders and students together at more than 900 Atal Tinkering Labs in India. • The GOI will spend around US$ 3.10 billion to build six new IITs by March 2024, of which US$ 1.08 billion will be spent by March 2020. • The Ek Bharat Shreshtha Bharat (EBSB) campaign is undertaken by Ministry of HRD to increase engagement between states, union territories, central ministries, educational institutions, and the general public. Vision for 2025: ü Expecting a Gross Enrollment ratio to reach above 50 percent. ü Gender disparity expected to be narrower by the reduction in Gross Enrollment Ratio gap between male and female candidate to 5 percent. ü To emerge globally single largest provider of talent, with one in four graduates in the world is from Indian higher education system. ü To be in the Top 3 countries list of Research and development and highly skilled labor. ü To have more than 25 institutes to be ranked globally higher. The government of India is thriving hard to establish a strong and quality education network in India by various initiatives. E-learning and M-learning are in the verse of emergence and by 2025 it will be the focused education techniques in India. Furthermore, with online modes of education being used by several educational organizations, the higher education sector in India is set for some major changes and developments in the years to come. Role of Banking Sector: Banks play a major role in the education sector by providing education loans to needy people without any process difficulty. Few banks also having different schemes to support a set of communities and women to take up higher studies which in turn increasing the Gross Enrollment Ratio for higher educations. Few banks are providing scholarships to the higher graduation enrolled students in various parts of India. Along with Andhra Pradesh government, Andhra bank has set up a school and also with NABARD, it conducts the activities to develop the skills among underemployed youths. Opportunities: 1) Booming of E-learning and M-learning platforms in various schools and also in graduation universities. 2) Increase in the number of central institutes like IITs, IIMs, and others. 3) Large participation of private education institutes. 4) Increase in the Gross Enrollment ratio and female literacy rate creates an opportunity for providing loans. 5) Formation of NGOs who takes the initiative to teach and develop the underprivileged students in rural villages. Recommendations for ICICI bank: 1) Tie up with private and public education institutes to support by providing loans and scholarships to the students. 2) Investments in E-learning and M-learning software developing companies. 3) Special schemes to encourage the below average earning communities and women students to continue their higher education. 4) Set up schools in villages under the CSR activity. 5) Tie up with NGOs to fund the initiative of teaching underprivileged as a part of CSR. Indices: Exchange Rate Used: INR 1 = US$ 0.015 References: Media Reports, Press Releases, Press Information Bureau, RNCOS Report, Department of Industrial Policy and Promotion (DIPP), Union Budget 2018-19
Deeppan K S
Learning Team: Shrinking to Fit
Synopsis The case “LEARNING TEAMS: SHRINKING TO FIT” is about a group of students from different backgrounds studying at a Southern Graduate School of Business to pursue MBA. This particular school uses the case method teaching approach. The school formed learning teams (LT) who used to meet in the evening to work on cases assigned for the next day’s discussion. The group in discussion comprises of six members- Ram Bajaj, Russell Manning, Marcus Pressley, Carter Spencer III, Joann Moyer and William Stuart. Initially, the group was very enthusiastic while solving the cases. They believed that they needed each other for academic survival. But, Spencer started dominating in the case analysis as the participation of other members gradually reduced. Personality Traits Member’s Name Background Personality Traits Description Carter Spencer Accounting, CPA ESTJ Strong willed, Dedicated, Honest and Direct, Enjoy creating order, Judgmental, Stubborn and Inflexible Russell Manning Finance Joann Moyer BA English, Film and Web Development ENTJ Efficient, Confident, Strategic, Charismatic and Inspiring, Dominant and Stubborn, Arrogant, Intolerant and Impatient, Handles emotions poorly Ram Bajaj Marketing William Stuart Investment Banking INTP Original and Imaginative, Abstract thinker and Analysts, Enthusiastic, Open-minded, Insensitive, Withdrawn and Private, Absent-minded at times, loathe rules and guidelines Marcus Pressley Finance ISFP Artistic, Charming, Sensitive, Passionate, Curious, Creative, Imaginative, High levels of empathy, Fluctuating self-esteem, Unstable, Fiercely independent, Easily stressed, Unpredictable. Problems the group was facing: • Initially, they believed that they need each other for academic survival, hence missed the important aspect of building a team. • No transparent communication among the group. • Team letting Spencer dominate them as they were always in hurry to go home. • Moyer still indecisive on whether confronting Spencer will be a wise decision. Criteria for evaluation: The major criteria for evaluation are: 1. Myer-Briggs Type Indicator: Most commonly used personality-assessment instrument in the world. It classifies people into one of the 16 personality types. 2. Person-Job Fit Theory: The theory argues that satisfaction is highest and turnover is lowest when personality and occupation are in agreement. The other criteria talked about in the case are Trait Activation Theory and Approach Avoidance Theory. Solutions: According to Approach Avoidance Theory: Spencer mailed the group members about what to study but at the same time criticised their participation as a hindrance. According to Personal-Job Fit Theory: Rather than pondering over which personality trait would be tailor made they solely relied upon Spencer’s methodology Alternative course of action • They shouldn’t let Spencer use his accounting textbook for solving the cases. • All 4 members in the group who had the same opinion about spencer should approach the mentor and ask him to talk to Spencer • Moyer must have mustered courage and surface her feeling in front of others.
Arun Murali
Cash Flow Statement
The statement of cash flows is one of the main financial statements. (The other financial statements are the balance sheet, income statement, and statement of stockholders' equity.) The cash flow statement reports the cash generated and used during the time interval specified in its heading. The period of time that the statement covers is chosen by the company. For example, the heading may state "For the Three Months Ended December 31, 2017" or "The Fiscal Year Ended September 30, 2017"
Rajat Kumar