Centres of Excellence
To develop thought leadership in the identified areas, faculty members are collaborating with NGOs, industry, academicians and students to develop ICs in the three identified areas, with the objective of developing expertise in those areas.
There are three ‘Centres of Excellence’ at JAGSOM, which are creating intellectual contributions in the identified areas :
- AIM-Parasuraman Centre for Service Excellence
- Centre of Excellence in Entrepreneurship Development
- Centre of Excellence in Banking
AIM-Parasuraman Centre for Service Excellence
The services sector is a key driver of India’s economic growth. The sector contributed 55.39% to India’s Gross Value Added at current price in FY20. Services sector’s GVA grew at a CAGR of 1.45% to US$ 1,064.8 billion in FY20 from US$ 1,005 billion in FY16.
The aspirational vision for the Centre is to serve as a catalyst for bringing together and facilitating interactions among academic scholars, companies and students (would-be managers or scholars down the road) with the goal of promoting and nurturing service excellence in multiple areas. This Centre can be envisioned as a three-pillared structure, with the Centre’s vision atop the structure and supported by three interlinked pillars: (a) research scholars from academic institutions, (b) practitioners from various sectors and (c) students being trained at academic institutions. The focus is on knowledge creation, dissemination and implementation in the Services domain.
Dr. A Parasuraman, one of the foremost authorities of services marketing globally, is leading and mentoring this initiative.
In order to help organizations derive competitive advantage through service quality, the Centre has launched India’s first ‘Index of Service Excellence’ (iSEI), in the E-Commerce and Banking sectors, to begin with.
Centre of Excellence in Entrepreneurship Development
India has witnessed launch of more than 55,000 startups to date with more than 3,200 startups raising $63 Bn in funding in the last five and half years alone. Home to 34 unicorns, and 52 soonicorns with a potential to become unicorns by 2022, the world’s second largest startup ecosystem is poised for disruption.
The Centre of Excellence in Entrepreneurship Development helps students and aspiring entrepreneurs with training, mentoring and incubation of start-ups.
The Centre aspires to be one of the most sought-after destinations for budding entrepreneurs and envisages the percolation of an entrepreneurial mindset, across the institute, leading to a thriving ecosystem for nurturing entrepreneurship.
An important pillar is the intellectual capital developed by means of courses and programs offered by the institute. The central pillar is the ‘Start-Up Foundry’ which incubates potential entrepreneurs to experiment with their ventures. The third pillar is to develop a network of experts as mentor, advisors, funder to help. potential entrepreneurs with successfully launching their ventures.
The Centre has signed an MOU with SpringUp Capital, a VC Fund and Accelerator to strengthen the start-up ecosystem for the students.
Centre of Excellence in Banking
The Indian banking system consists of 12 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1,485 urban cooperative banks and 96,000 rural cooperative banks in addition to cooperative credit institutions. According to Reserve Bank of India (RBI), India’s foreign exchange reserve reached US$ 534.56 billion as on July 31, 2020. According to RBI, bank credit and deposits stood at Rs. 102.19 lakh crore (US$ 1.45 trillion) and Rs. 140.20 lakh crore (US4 1.98 trillion), respectively, in the fortnight ending July 31, 2020.
The Centre of Excellence in Banking aims at :
- Imparting of knowledge on the best banking practices for the students and the industry
- Taking lead for research activities on the contemporary banking topics
- Carrying out proactively knowledge dissemination in banking related areas at national and international platforms
Activities relating to ‘Index on Service Excellence’ in banking services have been undertaken. A presentation to SBI, HDFC Bank, Ujjivan Small Finance Bank has been made on pilot survey in ‘Retail Banking Index on Service Excellence’.
In addition, the Centre of Excellence in Banking, has been accredited by Indian Institute of Banking & Finance (IIBF).