The dramatic increase in fine grained digital data is pervading functions in organizations that range from from finance and marketing to human relations and supply chain operations. At the highest strategic level it is disrupting entire industries in transportation, media, entertainment, engineering, merchandising, retail banking and financial services. This represents an extraordinary opportunity for schools like IIMA to develop an MBA program that produces exceptionally strong quantitatively oriented graduates. With 90% of incoming students having engineering degrees, IIMA can have a strong concentration option in business analytics. Few business schools in the west have incoming classes with such a strong foundation in quantitative thinking. The IT solutions industry in India is a global leader and provides an excellent environment for building such a program. One of the industries that the digital revolution is likely to disrupt in the next decade is the education industry. This presents another extraordinary opportunity for IIMA to use on-line learning technologies to directly support MBA programs that have limited resources to build strong business analytics components in their offerings.
I see two significant challenges. First is that engineering education in India is weak in providing knowledge of statistics which is a key component of business analytics. The second is the need for a rapid ramp up in developing this concentration to stay at the forefront of the rapidly evolving digital economy. My experience with teaching business analytics at MIT and with founding a company that supports on-line learning of statistics with over 100 courses developed by authors of recognized text books in a range of topics, combined with dialogue over the past year with education institutes in India leads me to propose a collaborative initiative. This effort would involve education institutions pooling their resources to build concentration programs in business analytics that leverage these new disruptive educational technologies.
- Mr Nitin R Patel, Chairman and Chief Technology Officer, Cytel
Patient safety has been conceptualized as the avoidance, prevention and amelioration of adverse outcomes or injuries stemming from structure & processes. Safety issues in medication, infection control surgery & anesthesia, transfusion, restraints, staffing & competencies, credentialing and privileging , clinical governance, fire and non-fire safety, medical equipment, emergency management and security, etc. need to be addressed. The IOM (1999) pointed out the systemic problems such as poor communication, lack of knowledge in using information technology, failure of all health professionals to work together, etc. in healthcare lead to poor outcomes. The report suggested ways to reinvent the health system through six aims for care: safety, timeliness, efficiency, effectiveness, equity and patient-centered. Better documentation, communication and process improvement would improve the Doctor- Patient relationship.
Accreditation has systematized and brought changes upon healthcare approach in developing a Safety Mindset. The accreditation process promotes risk management and patient safety by establishing operational systems and processes designed to minimize likelihood of errors and maximize likelihood of intercepting errors when occur or before they occur. Reduction in variation in administrative and clinical processes leading to better quality care and better outcome. Accreditation in itself is not a goal; the goal is to improve the quality of services by imbedding patient safety processes into healthcare. Best practices, frugal innovations and use of technology can make healthcare cost-effective.
- Dr K K Kalra, Chief Executive Officer | NABH National Accreditation Board for Hospitals & ealthcare Providers Quality Council of India, New Delhi, India
Exploiting discontinuities in program eligibility, we show that small-firm lending mandates inhibit firm growth. Firms newly qualified under lending mandates near the upper threshold for treatment have lower growth in investment, sales, and a nonaccounting measure, power consumption. The effects are more pronounced for more constrained firms and those borrowing from banks facing shortfalls in meeting lending targets. Establishment level data show similar program-induced distortions in firm size. Our results suggest that financial constraints matter: firms give up growth to retain credit access. However, solving small firm constraints through lending mandates on banks could counterintuitively slow growth so that target firms remain small and banks find it easier to meet statutory targets.
Co-Authors: Gursharan Bhue, University of Chicago and Prasanna Tantri, Indian School of Business
- Dr. N R Prabhala, Chief Mentor and Head of Research at CAFRAL