IIM Visakhapatnam welcomes new cohort to permanent campus

The Indian Institute of Management (IIM) Visakhapatnam welcomed the 8th batch of the Master of Business Administration (MBA) program, the 4th batch of the PhD program and the 4th batch of the Post-Graduate Program in Management for Experienced Professionals (PGPEx) who will be the first occupants of the new permanent campus on Saturday in VMRDA Children’s Arena.

Manish Goyal Vice President, Bain & Co. & Chief Operating Officer, Bain Capability, addressed the incoming batches as the chief guest for the inauguration. Speaking on the essence of leadership, he said about the 4P’s that one needs to follow in their career: Purpose, Passion, Pride, and Performance. He talked about the importance of being resilient and adaptable, enabling one to sustain in the long run and produce effective results. In his inaugural address, he spoke about the dynamic environment of business. He said, “In the last two decades, across the globe, growth has come down by 50 per cent, and volatility has gone up by 50 per cent. But the unique feature is that the valuation has increased by 50 per cent. This phenomenon is unique, as companies registering negative profits are more valuable today than the companies that pay a good dividend; this paints a picture of uncertainty and management students must brace to handle the uncertainties.” He explained this situation as the abundance of financial capital and discussed the implications for business managers. He urged the students to prepare themselves for such challenging conditions and advised them to chase their career goals during the 2-year MBA rather than the outcome, which is placements.

Prof. Milan Kumar, Admissions Chair, IIM Visakhapatnam, welcomed the new cohort and gave details of the batch profile. The intake for the year 2022 is 294 students in PGP, 17 students from PGPEx and two in the PhD program in the Marketing area. The students were admitted after a rigorous 3-phase admission process. The PGP intake was higher than the previous year of 196 students. The incoming batch of PGP has a representation from 21 states, and the diversity ratio is 28% female and 72% male. They come from various graduation disciplines such as engineering, management, science, arts, agriculture, and commerce. This year, preference has been given to the students who have work experience, resulting in a batch comprising 72% with prior work experience and 28% being fresh out of college.

Prof. Chandrasekhar M, Director, IIM Visakhapatnam, congratulated the students for getting admission to the institution after clearing the rigorous 3 phases of the admission process and wished them a fulfilled journey ahead. Speaking on occasion, he talked about the institute’s accomplishments and progress in the recent past. He congratulated students on being the first occupants of the IIM Visakhapatnam permanent campus at Gambheeram, which is GRIHA (Green Rating for Integrated Habitat Assessment) five-star rated – an initiative of the Ministry of New and Renewable Energy, Government of India and The Energy and Resources Institute (TERI). Extensive measures have been taken to conserve water, soil and energy in and around the campus. As a result, the campus has achieved net-zero status in energy and water conservation and carbon footprint.

The institute is also equipped with advanced digital technologies and is disabled-friendly. He highlighted the institute’s vision statements emphasising creative learning to provide innovative solutions, relevance and excellence in academics, ethical and sustainable management, equity and inclusivity.

In his address, he quoted Swami Vivekananda, ‘When there’s a conflict between mind and heart, follow the heart and be ethical in your domain of work’. He urged the students to be responsible and possess a socially conscious quotient in addition to the intelligence and emotional quotient. He encouraged students to make use of a full-fledged incubator – IIMV FIELD, which trains, supports and funds upcoming entrepreneurs.

Addressing the participants, Prof. B. Srirangacharyulu, Chairperson (PhD), gave an overview of the PhD program. The PhD Programme of IIMV supports students with a handsome stipend, suitable accommodation and generous conference grants while imparting high-quality training in research. Prof. Sriranga wished students for their upcoming exciting journey as research scholars at IIMV.

Prof. Anuradha, Dean (Administration), also extended a warm welcome to the students and spoke about the values a student should inculcate. The four values one should strive for are the ability to take the initiative, honesty and integrity, having a social conscience and a desire to grow as a joyful individual.  Prof. Saroj Kumar Pani, Chairperson (PGPEx), welcomed the incoming 4th batch of PGPEx. He spoke about the three key aspects one needs to inculcate – self-discovery, gratitude, and utility as an individual contributor. He engaged the audience with storytelling to explain these three essential aspects.

The inauguration flagged off a week-long orientation program for the incoming batches, involving preparatory sessions and induction activities.

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