News
MDP Achieving Excellence in Financial Decision Making
Dates and Duration: 21st-23rd November 2024 (3 days)
Department: JBS
Coordinator(s)/Convenor(s): Prof. Sunil Bhatia, Dr. Shivani Kapoor and Dr. Nikhil Yadav
Theme and objective: Achieving Excellence in Financial Decision-Making”
In the current time, the ability to read financial statements and also the familiarity with the principles of financial management constitutes basic financial literacy and is a must for all managers and executives irrespective of the function they perform. Optimum allocations of resources, choice of funding and expenditure control are now recognized as issues that are of interest not just to the finance specialist, but to all executives at different levels.
This aims to enhance the analytical ability among the participants and the same in turn will lead to rational decision-making. The Program has been designed to introduce various tools and techniques of financial management resulting in a formal understanding of the subject that in turn will help the participating executives to make rational decisions. The participants will also be exposed to the applications of information technology in the areas of accounting & finance and the development of soft skills.
The inaugural session was hosted by Dr. Shivani Kapoor, faculty coordinator of the MDP. The program started with the welcome of the Director JBS Prof Vashisht and Prof Bhatia with a bouquet. Dr Kapoor welcomed the delegates, faculty members and students, which was followed by the lighting of the lamp by the dignitaries and delegates. To take the blessing of Ma Saraswati students of JIIT sang Saraswati Vandana. Thereafter, Prof. Sunil Bhatia, Program Director in his address talked about the importance of financial decision making in the fertilizer sector. He gave an overview of the session of the MDP
Prof. Anubha Vashisht began her address by thanking all the delegates and students for attending the Management Development Program. She updated the audience about the various initiatives JBS is taking and the achievement of JIIT. Prof Vashisht also briefed about the new innovative events being organized by JIIT and motivated students to be a part of them.
Day 1:
Ice Breaking and Introduction of the Program : The session was conducted by Dr. Shivani Kapoor. The session began with an engaging self-introduction. This activity encouraged creativity and self-reflection while setting a lively tone for the session. To test the presence of mind and quick thinking, the group played a game centered on even and odd numbers. Later, participants were divided into pairs for an interactive challenge like Grab the Cup and Dig the Information. The combination of activities created an enjoyable and stimulating environment, fostering camaraderie and improving essential skills like quick thinking, adaptability, and teamwork. The session effectively balanced fun and learning, leaving participants energized and equipped with practical takeaways for personal and professional growth.
Team Building: The session was taken by Prof. Rajnish Kumar Misra. It started with a very interactive discussion on the importance of team building in both professional and personal life. The professor highlighted the three key elements of successful teams: collaboration, communication and trust. To create an atmosphere of active participation, the participants were divided into teams and given a thirty-minute activity designed to promote teamwork and mutual understanding. After the activity, the professor conducted a lively discussion on different aspects of team building.
Government Policies and Fertilizer Pricing Issues in The Fertilizer Sector: The Session was conducted by Prof. Sunil Bhatia. It started with an in-depth discussion on retention pricing and Urea policies, exploring government pricing schemes and their evolution. Key points included updates to conversion costs, amendments to NPS in 2009, and the introduction of the New Urea Policy in 2015. Pending issues such as fixed cost escalation, shutdowns due to technology challenges, and policy revisions expected in 2025 were also discussed. The session provided valuable insights into policy-driven transformations in the urea industry.
Project Appraisal, Management of Time and Cost Overruns in a Project: The session was taken by Prof. Sunil Bhatia. The discussion began with project appraisal, emphasizing the evaluation techniques used to assess a project’s viability and potential returns. Prof Bhatia elaborated on the modes of managing contracts, including their respective advantages and disadvantages. Prof. Bhatia explained the importance of selecting appropriate contract types to align with project goals while mitigating risks. In-depth discussion was held on common challenges in project management, particularly cost and time overruns, providing insights into their causes and strategies to overcome them. This session offered valuable knowledge for effectively managing projects in diverse contexts.
Day 2 :
Challenges in the Project Financing: The session was conducted by Prof. Sunil Bhatia. The session covered two types of financing: balance sheet financing and project financing, emphasizing their respective focuses on a firm’s stability versus the project’s strength. Key topics included the cost of equity and debt, interest on government bonds, and the importance of financial feasibility and assessment. The components of project cost, such as land, fixed assets, and pre-operative expenses, were discussed alongside funding through term loans and working capital loans. The lecture also explored project financing structures, challenges, and strategies, highlighting the role of debt financing opportunities.
Advanced Excel for Finance Professionals: The session was taken by Dr. Vikas Bhatnagar The session started with the use of Index Matching, a powerful tool for retrieving data from structured datasets, emphasizing its superiority in handling complex lookups. An in-depth breakdown of how the LOOKUP function works, focusing on its applications in real-world financial scenarios. The session also included a step-by-step demonstration of the VLOOKUP formula. The session concluded with an introduction to macros, showcasing their potential for automating repetitive tasks and improving efficiency in financial workflows.
Contract Management - Problems and its Mitigation: The session was taken by Prof. Sunil Bhatia. The discussion covered key aspects of contract management, including its definition, objectives, and ultimate goal of achieving value for money. Topics like outcomes, key issues in works and consultancy services, and the three stages of public procurement—pretender, tender, and execution—were discussed, with a focus on the tender stage.
Business Simulation on Corporate Finance: The session was taken by Dr. Nikhil Yadav, A simulation was given to all the participants on CESIM AI site. All the members worked in a team of two discussing about decisions they had to make together. Various scenarios were discussed, each presenting different constraints to monitor and balance supply, demand, and profit. This helped in enhancing decision-making skills by integrating multiple dimensions, enabling participants to make more informed and effective choices.
Day 3 :
Stress Management: The session was conducted by Dr. Shivani Kapoor, the aim of the session was to help participants understand and effectively handle stress in their personal and professional lives. The facilitator introduced practical strategies for managing stress, including identifying and reducing stressors, replacing negative thoughts with positive ones, and maintaining a healthy work-life balance. Participants engaged in interactive activities such as a stress checker exercise and stress-reduction techniques, which allowed them to reflect on their stress levels and coping mechanisms. Overall, the session provided valuable insights and tools for managing stress, equipping participants with actionable strategies to enhance their mental resilience and overall well-being. The interactive approach ensured active engagement, making the session both informative and impactful.
Best practices in the Fertilizer Sector: The session was taken by Prof. Sunil Bhatia. It focused on enhancing company productivity and refining management systems, offering practical insights and guidelines for improvement. Key areas addressed included technology training, efficient stock identification procedures, streamlined financial records management, and implementing online payment systems for smoother processes. The discussion highlighted best practices such as achieving a balance between centralization and decentralization to optimize decision-making. Job rotation every 2–3 years was recommended to foster employee skill development and adaptability. Emphasis was placed on establishing sound feedback mechanisms to encourage continuous improvement and effective communication within the organization.
Leadership and Motivation for Organizational Excellence session was taken by Prof. Anubha Vashisht. The session explored how mindset shapes actions, emphasizing the significant role of personal beliefs. Key leadership skills highlighted included balance, mental strength, adaptability, stamina, and self-confidence. Participants engaged in the interactive “Pizza Slices” activity, which helped them identify and apply these qualities to real-life scenarios. Additionally, the session also explored into concepts such as the distinction between capacity and capability, leadership fitness for duty, self-development, and flexibility. These discussions provided valuable insights into enhancing personal and professional growth, equipping participants with tools to strengthen their leadership abilities.
Closing Ceremony: Vrinda Goel student BBA final year summarized and thanked the participants. Director JBS Prof. Anubha Vashisht, Prof Sunil Bhatia, Dr Shivani Kapoor, and Dr Nikhil Yadav distributed the certificates and saplings to the participants. MDP concluded with a group photograph.
Speakers/ Resource person:
Prof. Anubha Vashisht is a Professor of Marketing and Director Jaypee Business School. Mam has a blend of corporate and academic experience. Ma’am has started her career with the Pharmaceutical Industry. Her passion for academics led her in to teaching assignment at many institutes of repute. She has over 23 years of rich experience in teaching and training, research, business consulting and academic administration Prof. Vashisht is actively delivering training sessions and Management Development Programs to the corporates. She has handled international consultancy assignments and completed industry projects with companies like Mahindra, Hindustan Field Force Services and so on. Her teaching and research areas include Consumer Behaviour, Brand Management, and Marketing Research.
Prof. Sunil Bhatia: Professor Sunil Bhatia, an industry expert, is a faculty in Finance and Project Management area in Jaypee Business School. He is an Ex. Director (Finance), Engineers India Limited and has 35 years’ experience in Corporate Financial Management in Fertilizers and Oil & Gas Sector. He has successfully executed projects worth Rs. 15,000 crore and has raised Debt and equity of Rs. 11,000 crore for various projects including foreign equity. Prof. Bhatia is a Finance professional, Fellow Member of The Institute of Cost Accountants of India having specialization in business operations and controls, project execution and financing, resource planning, financial analysis, cost control, project risk management and contract closure. As Director (Finance) of Engineers India Limited, he played a pivotal role in Equity investment by Engineers India Limited in Numaligarh Refinery Limited (NRL) during the process of Disinvestment of NRL by Govt. of India. This was the first equity investment by Engineers India Limited in any Refinery. Prof Bhatia also successfully steered the Buyback of Shares in Engineers India Limited. Before taking over as Director Finance in Engineers India Limited, he was Executive Director and CFO in Ramagundam Fertilizers & Chemicals Limited, a Joint Venture Company promoted by Engineers India Limited and National Fertilizers Limited. He is credited with conceiving a Joint Venture Company, Ramagundam Fertilizers & Chemicals Limited on the drawing table and steering its fertilizer project from Zero date till its commissioning. He raised Foreign Equity for Ramagundam Fertilizers & Chemicals Limited, which is the first equity investment by a foreign investor in the Fertilizer Sector in India.
Dr. Rajnish Kumar Mishra:
He has more than 23 years’ experience in academics. Prior to this assignment, he has worked in various reputed institutes. He has conducted several training programs for both services and manufacturing companies like Reserve Bank of India, United Bank India, BHEL, IFFCO, Mahanadi Coal Fields, JK Tyres, HAL; and delivered lectures in Patni Computers Ltd., Hindustan Aeronautics Ltd. and Areva T&D (ALSTOM) Limited. Dr. Misra had been conferred with a career award for young teachers by AICTE, Ministry of HRD, New Delhi for his scholarly achievement in conducting a research project. He had been invited to present his paper in an International Conference organized by Victoria University, Melbourne, Australia and International Conference organized by International Academy of Management and Business (IAMB) in California, USA.
Dr. Shivani Kapoor: She is a Ph.D. in Strategic Human Resource Management and an MBA
from the University of Allahabad. Her areas of interest include organizational Behaviour,
Communication, Soft Skills, and Strategic Human Resource Management. She has more than
22 years of teaching, training, and research experience at leading institutions. Dr. Kapoor is a
passionate and dedicated professional who enjoys learning new things and interacting with
different types of personalities. Dr. Kapoor has written and presented research papers in
India and abroad. Her case studies and teaching notes are published in leading international journals including Harvard Business School Publishing. She has won awards for authoring case studies and research papers. She has represented her organization across the country as a speaker and panelist in her area of expertise.
Dr. Vikas Bhatnagar:
He currently working with JBS Noida, has substantial experience industrial, research and academic fields. He has received his bachelor degree with Honors in Electronics and Communication engineering from State Government Engineering College, Haryana, master degree with Outstanding grade in Business Administration from Central University of Himachal Pradesh and doctorate from National Institute of Technology Warangal where he has developed soft computing models to deal with real time industry problems. He has qualified UGC-NET in Management discipline. Dr. Vikas Bhatnagar has published research articles in various reputed international journals like Springer, Elsevier, Inder-science and international conferences like IEEE and IET. Some of his research articles bagged best paper award at national conference sponsored by Science and Engineering Research Board, India. He has worked on a research project sponsored by Department of Science and Technology, New Delhi. He co-authored several books and is a reviewer for the International Journal (ESCI, Scopus Indexed) and conferences and acted as a resource person in Capacity Building, Skill Development and Faculty Development Programs.
Dr. Nikhil Yadav:
He is working in Jaypee Business School as an Assistant Professor - Senior Grade. He has completed Ph.D. in Finance from Motilal Nehru National Institute of Technology Allahabad & MBA (Finance) from UPTU Lucknow. He has many years of experience in the Mutual fund industry and Equity research. He is an active reviewer of reputed journals of international publications indexed in Scopus, web of Science, and ABDC listed.
Number of Registered participants = 16
List of Registered Participants
|
Sr. No |
Company Name |
Participant |
CERTIFICATE NUMBER |
|
1 |
National Fertilzers Ltd |
Neha Periwal |
JBS/MDP/2401 |
|
2 |
National Fertilzers Ltd |
Shipra Gupta |
JBS/MDP/2402 |
|
3 |
National Fertilzers Ltd |
Tanuj Garg |
JBS/MDP/2403 |
|
4 |
National Fertilzers Ltd |
S K Prajapati |
JBS/MDP/0104 |
|
5 |
National Fertilzers Ltd |
Archna Gupta |
JBS/MDP/2405 |
|
6 |
National Fertilzers Ltd |
Manik Arora |
JBS/MDP/2406 |
|
7 |
National Fertilzers Ltd |
Ashwani Maheswari |
JBS/MDP/2407 |
|
8 |
RFCL |
Praveen Gupta |
JBS/MDP/2408 |
|
9 |
RFCL |
Sandeep Kumar Gupta |
JBS/MDP/2409 |
|
10 |
RFCL |
Vikas Pant |
JBS/MDP/2410 |
|
11 |
KFCL |
Alok Dixit |
JBS/MDP/2411 |
|
12 |
KFCL |
Vikramaditya Shukla B Janardhan |
JBS/MDP/2412 |
|
13 |
KRIBHCO |
Kalpesh Mahendra Kumar Shah |
JBS/MDP/2413 |
|
14 |
KRIBHCO |
Vijay Kumar Chawla |
JBS/MDP/2414 |
|
15 |
KRIBHCO |
Arunabh Roychowdhury |
JBS/MDP/2415 |
|
16 |
KRIBHCO |
Nirmal Nagda |
JBS/MDP/2416 |
