India
Parliament approves the IIM bill, giving the President managerial authority.
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In a significant development that has stirred conversations across the nation, the Indian Parliament has given its seal of approval to the IIM Bill, a landmark legislation that bestows the President of India with enhanced managerial authority over the prestigious Indian Institutes of Management (IIMs). This move comes as part of a broader effort to bolster the quality of management education in the country and elevate these esteemed institutions to even greater heights. In this blog post, we will delve into the implications of the IIM Bill, its potential impact on the education landscape, and the reactions it has sparked among various stakeholders.
Empowering the President for Effective Governance
The IIM Bill is a testament to the Indian government’s commitment to fostering excellence in management education. With the President of India being granted managerial authority over the IIMs, the administration aims to streamline decision-making processes, improve coordination, and create a more unified framework for the functioning of these institutions. This step is anticipated to enhance accountability, transparency, and overall efficiency in the management of IIMs.
Key Features of the IIM Bill
President’s Role: The President of India will serve as the Visitor of all IIMs, conferring upon them an oversight role to ensure that the institutions adhere to the highest standards of academic quality and ethical conduct.
Executive Council Composition: The IIM Bill mandates the establishment of an Executive Council at each IIM, with the President of India having the authority to nominate prominent individuals from various sectors to these councils. This composition is expected to bring diverse perspectives to the decision-making process and contribute to a well-rounded governance structure.
Enhanced Autonomy: While the Bill empowers the President with managerial authority, it simultaneously seeks to uphold the autonomy and academic freedom of the IIMs. This balance is crucial to enable the institutes to continue fostering innovation and research.
Uniformity in Governance: By providing a consistent framework across all IIMs, the legislation aims to address disparities in governance structures that may have existed earlier. This uniformity is projected to strengthen the collective impact of these institutions on India’s education sector and economy.
Potential Impact and Benefits
The IIM Bill has the potential to bring about several positive changes in the Indian education landscape:
Quality Enhancement: With increased oversight, the IIMs are likely to maintain a high standard of education, faculty, and research, thereby enhancing the quality of management education in India.
Global Recognition: Improved governance can lead to higher international rankings for Indian management institutes, attracting students, faculty, and collaborations from around the world.
Innovation and Research: The legislation’s commitment to preserving academic autonomy can foster a culture of innovation, enabling IIMs to contribute valuable research and solutions to real-world challenges.
Stakeholder Engagement: By involving accomplished individuals from various sectors in the Executive Councils, the IIMs can establish stronger industry-academia connections, leading to more relevant and practical curricula.
Reactions and Contemplations
The IIM Bill has ignited a range of reactions from different quarters. While some applaud the move as a necessary step towards enhancing the quality of education, others have expressed concerns about potential interference in academic matters. The delicate balance between increased oversight and preserving academic freedom remains a point of contention that needs careful navigation.
The Parliament’s approval of the IIM Bill marks a pivotal moment in the evolution of management education in India. By granting the President of India enhanced managerial authority, the government aims to foster better governance, accountability, and coordination among the Indian Institutes of Management. The success of this legislation will hinge on striking a harmonious balance between oversight and academic freedom, ensuring that the IIMs continue to thrive as centers of excellence and innovation in the field of management education. As the implementation of the IIM Bill unfolds, the nation watches with anticipation to witness its impact on the future of education and India’s position on the global stage.
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Health
Namita Thapar and Anupam Mittal of Shark Tank India argue on work-life balance: “70-hour work week…”
Shark Tank India’s Namita Thapar and Anupam Mittal clash over work-life balance debate: ‘70-hour work week…’
Should employees work longer hours? In a recent interview Shark Tank India’s Namita Thapar and Anupam Mittal expressed their contrasting views.
Creating the right work-life balance isn’t easy, and if you work for yourself, it can be almost impossible, as per entrepreneurs Namita Thapar and Anupam Mittal, who were both seen together in various seasons of the popular reality show Shark Tank India. Also read | Tips for maintaining a healthy work-life balance
During a recent interview with Humans of Bombay, Namita Thapar expressed her view on work-life balance, saying people who own businesses must work long hours, but ‘common’ salaried employees don’t need to. However, Anupam Mittal had a different viewpoint.
Anupam Mittal on work-life balance
When asked if he believed work-life balance was achievable and his view on the debate around it, Anupam, who is the founder-CEO of Shaadi.com, said, “I think it is a big lie that’s being told to this generation, and I think it stinks because you are not ever going to… okay this is for people who want to achieve something extraordinary in life… you are not going to achieve anything extraordinary in life by counting the hours that you are putting in. Work-life harmony and flexibility, all that I understand.”
He then spoke about how the productivity in his company has gone up by 30 percent due to a hybrid work model as people get to take care of their personal life while also being available for work from home.
He added, “But simply clocking hours as a means of defining work-life balance is destroying a whole generation. We work 16 hours a day because we believe so much in what we are trying to build; and we never looked at our clocks and watches, although we were on salaries. I think that really builds character, right? When you struggle… success builds ego, but struggle builds character. I think people need to really go all in as far as (possible), if they want to achieve (something) in the early part of their career, when they still have the energy and the clarity in terms of what they want.”
Chiming in, Namita, the CEO of Emcure Pharmaceuticals, said, “This is a crock of bull****. Pardon my language. I completely disagree. I apologise for interrupting you (Anupam).”
Namita Thapar on work-life balance
Namita then explained her position, saying, “Basically this whole discussion and argument that is going on, pardon my language, is a crock of bull****. I will give you three data points, very specific data points. No. 1, when Emcure went public, it was $3 billion, my family owns 80 percent, so imagine the kind of wealth I am making. The founders, set of co-founders and top management, look at the kind of money they are making. Obviously, we could work 20 hours a day, which is what we all do. But the employee? Today, my accountant, he is making a salary, he does not have the upside of putting in that kind of hours. If he is going to put in that kind of hours, my second data point is, he is going to have serious, serious, serious physical and mental health issues.”
She added, “So, I think for founders and high stakeholders, who make tons of money — go for it. Work 24 hours a day forever! But I think for the common man and woman… (there needs to be) a certain number of hours that they are supposed to work, and of course when there are deliverables… people work longer hours, but it is not on a non-stop, standard number basis.”
Namita also said, “Third thing: For God’s sake, don’t get married and have children because the next generation is suffering because of non-existent parents… just spare them the misery and mental health issues due to having an absentee parent. So, I think for people with high stakes, yes (work long hours), but for common employees, have a reasonable work limit, knowing that there will be some blips during deliverable time, but it cannot be a constant 70-hour work week, which is what a lot of people are proposing.”
Here are a few tips and tricks for work-life balance
A balanced lifestyle is not just a luxury; it’s essential. Finding the right balance between work and personal life is crucial for maintaining a healthy lifestyle, managing stress levels, and promoting better sleep quality. Click here to check out six helpful ways to maintain work-life balance for better mental health.
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Festival
Learn about Christmas 2024’s background, significance, and the reasons it’s observed on December 25.
Christmas 2024: Know about history, importance, significance of this day and why it’s celebrated on December 25
The birth of Jesus Christ is celebrated on December 25. Find out the history and significance of this day.
Christmas 2024: Christmas is a much-anticipated festival of the year. It is celebrated every year on December 25 to mark the birth of Jesus Christ, the Son of God, as per Christians. The holy day also celebrates his teachings of love, forgiveness, and compassion. This holiday brings families and friends together, celebrating the warmth and cheer of Christmas, from singing Christmas carols to decorating the Christmas tree. Here’s more about the history of this special day.
The Bible does not exactly mention the birth date of Jesus Christ. There’s no specific date or month. It’s very vague. This suggests that the early Christians did not celebrate Christmas and his death and resurrection (Easter). The Bible, as a work of theology, is centred more on the teachings. However, it wasn’t until centuries later that the celebration of Jesus Christ’s birth was formally established with December 25 being chosen. But it was not through any direct Biblical reference but rather it coincides with the Roman winter solstice festival.
Ancient Rome used a different calendar back then so the winter solstice fell on December 25. On this day Romans observed dies natalis solis invicti (birthday of the Invincible Sun) celebrating the end of the winter and resurgence of the sun. This day is special as after winter solstice the days begin to lengthen, marking the ‘rebirth’ of the sun. Early Christians may have chosen December 25 to align with this celebration of light and the ‘rebirth’ of the sun, adeptly symbolizing Jesus as the ‘light of the world.’ Jesus Christ in John 8:12 referred to himself as the light of the world.
Importance of Christmas
Christmas cheer is enthusiastic and infectious, from celebrating the birth of Jesus Christ to bonding with family, exchanging gifts, and preparing meals together. It is also a day to reflect on and celebrate the teachings of Jesus Christ. Christmas is a widely celebrated festival, across cultures and the globe.
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Sports
Visa problems cause Arjun Erigaisi’s World Rapid and Blitz C’ship trip to the US to be delayed; Grandmaster makes an appeal.
Arjun Erigaisi’s US travel for World Rapid and Blitz C’ship delayed due to visa issues; Grandmaster issues plea
Indian Grandmaster Arjun Erigaisi launched a plea, asking the US Embassy to look into the matter and “expedite the process.”
Grandmaster Arjun Erigaisi is in big limbo. He has been left high and dry ahead of the upcoming World Rapid and Blitz Championship in New York. The 21-year-old is still waiting for his visa, and he has now taken to social media to launch a plea, asking the US Embassy to look into the matter and “expedite the process.”
In his post, Erigaisi also tagged Union Sports Minister Mansukh Mandaviya and External Affairs Minister S. Jaishankar, asking them for help.
The World Rapid and Blitz Championship is slated to be held in New York from December 26-31. The tournament will also feature chess stars such as Magnus Carlsen, Fabiano Caruana, Ian Nepomniachtchi, and Boris Gelfand.
Taking to X (formerly Twitter), Arjun Erigaisi wrote, “Last week, I submitted my passport to you (US Embassy) for visa stamping, and it still has not been returned. I request you to please expedite the process and return my passport as soon as possible, as I need it for my travel to New York for the World Rapid & Blitz Championship.”
For the uninitiated, Arjun Erigaisi is looking to secure a spot at the next edition of the Candidates tournament. He is currently in a two-way race with USA’s Fabiano Caruana.
The Candidates is an eight-player event to find a challenger to Gukesh Dommaraju at the next World Chess Championship.
Arjun Erigaisi stated that he had submitted his passport for visa stamping on December 13, 2024.
“My appointment was initially scheduled for December 3. I was not planning to play in Qatar because of this. Then we got to know that it’s possible to pre-pone the appointment. Biometrics was done on November 26, and the visa interview a few days after that. After it was done, I left for Qatar. And when I returned from there, I submitted my passport to the US Embassy,” Arjun told The Indian Express.
2800 mark in the Elo rating
Erigaisi recently became only the second Indian, after five-time World Champion Viswanathan Anand, to surpass the 2800 mark in Elo ratings.
He also won an individual and team gold medal at the Chess Olympiad in Budapest.
“It’s the World Rapid and Blitz Championship. It’s still a World Championship. Very prestigious. If I do well there, I will have the chance to qualify for the Candidates tournament,” Arjun said.
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