With a plethora of options rising in the sector of higher education the Global Risk Management Institute located at Gurgaon brings a progressive course in risk management to further groom aspirants in this field to perfection.
The Institute strives to impart professional education in the ever dynamic discipline of risk management that proves necessary in the prevalent start-up evolution.
Risk Management is indeed a novel addition to professional education and yet proving a necessary requirement especially for start-ups. Young Hans, in a conversation with Subhashis Nath, Mentor, Global Risk Management Institute (GRMI) voiced a few queries addressing various issues of the same.
Risk management is indeed a growing sector; however the importance to have an exclusive course for the same seems superfluous. Countering this very uncertainty Subhashis Nath, says “We believe it is always better to have an expert to do the job, rather than someone learning at your expenses to deliver results.
Today, due to a gap in availability of trained risk management professionals, organisations are managing by investing heavily on training/hiring trained resources from outside of their organisation to meet their needs. Thus, a pool of talented professionals trained on a world class risk management curriculum will lead to higher productivity for all – small, medium and large corporate.”
“In this age of new business models, globalisation and rapid growth, in businesses across the globe, effective risk management has become a critical factor for the success of businesses. Business, needs to steadily analyse and respond to challenges like market volatility, geopolitical crises, wide-spread economic changes, regulatory reforms, and generally ignored cyber threats, which have become more and more frequent.
In a critical role of ensuring business value maximisation along with compliance to organisation and regulatory policies, risk managers are needed in every organisation,” he adds. There is a growing conception that risk management over the years has become synonymous with business strategy where it not only covers risks but also defines the path that the company takes towards its growth.
Talking about the same Subhashis Nath opines, “Risk management cuts across the organisation and is required across processes like – manufacturing, inventory management, HR, procurement etc. As the risk manager analyses different aspects of the business, they capture critical business information which collectively helps the top management take informed business decisions.
Risk management is focused on managing organisations risk portfolio across – operational, financial, strategic, regulatory and compliance risks-. The task of the risk manager is to analyse, design and implement measures to control or prevent losses within a company while business strategy on the whole decides the concourse of the company. Thus, it plays a critical role in supporting top management in developing business strategies, but is not a synonym to it.”
People presume that if a start-up cannot make its mark within 18 months, it is a lost cause; to this Subhashis Nath says that cold statistics like these are true and they are not intended to discourage entrepreneurs, but to encourage them to work smarter and harder. Entrepreneurs boost economic growth by introducing innovative technologies, products, services and creating job opportunities.
Increased competition challenges existing firms to become more competitive to accelerate structural changes by replacing established, sclerotic firms. We therefore can’t say that it’s a lost cause, as a prudent entrepreneur will definitely make his way to the top accessing the right opportunities at the right time without failing, he adds
On being asked if luck is a prerequisite for a successful business venture taking into account the upsurge of start-ups everywhere he replied saying, “Before taking luck into consideration, it is crucial that we understand which factors make business ventures successful and which does not.
If the venture’s roots are not strong enough to withstand the challenges, then it is bound to crash soon after its launch. Moreover, excusing the luck for the incompetency or for the failure is not the approach that should be followed to be successful in future endeavours.
Instead churn your mind to make the best of the available resources and analyse your risks effectively, so that you can plan for them well in advance. Today no business model can be constant, as there remains a huge demand of shift due to the unpredictable markets. Luck takes a back seat during such a storm, what works to save the boat are your skills.
The Global Risk Management Institute offers a one year Post Graduate Diploma in Risk Management (PGDRM) offering exposure to the practical side with the inclusion of live case studies in their curriculum. Apart from the major focus in Risk Management the Institute also moulds the student multi-dimensionally with key subject papers like hr, organisation behavior, applied cyber risk, strategic risk management and impact of digitization on risk management.
Potential recruiters at the institute include some of the large consulting and risk consulting organisations like Accenture, EY, KPMG, PwC, Deloitte, Protiviti, Grant Thornton, etc. and other large corporate organisations like General Electric (GE), Tata Group, PepsiCo etc. GRMI’s strategic partner with leading Global HR associations – Society of Human Resources Management (‘SHRM’) is expected to give GRMI students a great opportunity to explore placement on a global canvas.
Graduates from commerce, economics, statistics, arts, engineering etc. anyone can take this up as a specialised post graduation option owing to the dynamicity of the course. “The few qualities that student shall have are – analytical bent of mind towards problem solving, ability to think out of the box – to design solutions, willingness to learn, extremely good communication skills and dynamic personality,” adds Subhashis Nath.
The candidate must possess a Bachelor’s degree or equivalent, with a minimum of 50 per cent aggregate marks or equivalent in any discipline, from a recognised university in India or abroad (recognised by the UGC / Association of Indian Universities).
The bachelor’s degree or equivalent qualification obtained by the candidate must entail a minimum of three years of education, after completing higher secondary schooling under the 10+2 system or equivalent. Candidates in the final year of their bachelor’s degree or equivalent are also eligible, provided they furnish proof of having met the minimum eligibility criteria by September 30, 2016.
Interested candidates can fill the registration / application forms online through the website or can directly access the same using the following link – http://www.grm.institute/admissions/
By: Shreya Mariam Job
Originally published at: The Hans India
Pic courtesy: The Hans India