Model Commerce Organisation: The Study of Busiology!
Understanding the ways of conducting in a corporation and learning language of businesses, IHS students tread a new path!
Contravening the prevalent mind-set that commerce students are only meant to produce a boring bevy of nine-to-fivers, 12th grader Rudra Pradhan and his colleague Puneet jointly founded 'The Busiology Incorporated', a brilliant innovation that takes the term "work experience" to a whole new level.
Inspired by the Herriot-Watt Business Challenge held in the months of April-May, the two commerce students decided to combine the concept of a business committee (just like the one Herriot-Watt had) and the idea of a mock company to form a commerce organization. The aim of the Busiology Incorporated is to provide the commerce students with a firm understanding of the workings of a real corporation. To start off, students will be taken on field trips to major firms. Also, internally, the members of the mock company will have regular meetings with simple presentations on business operations and strategies.
The mission of this initiative is to "Enhance the commerce student's corporate exposure," or as the CEO of the firm, Rudra Pradhan, said, "The main purpose of The Busiology Incorporated, is to develop, within the commerce students, a sense of how the corporate world actually works." The aim and purpose of the company is very clearly explained on their Facebook page as well.
However, to further describe what this initiative is all about, Ramkumar Raman, the head of the company's Financial & Legal Department mentioned, "The Busiology Incorporated is student based company, which primarily deals in helping students get an innate feel of the corporate world and gain exposure. It formulates and executes tasks that are meant to enhance the knowledge of the commerce department."
Furthermore, explaining in details the functionality of the company, Raman mentioned, "Many companies nowadays highlight the fact that students who pass out of schools find it difficult to immediately adjust to the demands of the corporate world. The Busiology Incorporated intends to equip students with the necessary skills to succeed in a business environment."
The company is primarily service oriented, but focuses heavily on the needs of its employees, i.e. the students themselves. Currently, the employees comprise of 12th grade commerce students only. However, Raman mentioned, "The company might plan for an expansion soon and is considering training 11th graders as well, and then possibly shifting to the students of the science stream, and eventually including the entire of 11th and 12th grade." When asked about potential expansion, Pradhan said, "There is nothing concrete about expansion yet, but there will be lots of activities that will be coordinated in the following months." Details are sketchy and all of the plans are still on the drawing board.
The company has a relatively flat hierarchical structure, with teachers Mrs. Megha and Mrs. Kinjal being the primary directors and supervisors at the top of the entire program, then the company's CEO, Pradhan, and the company's COO, Puneet. After them, the four departments of the company follow. They are the Analysis and Innovation Department (A&I), the Financial and Legal Department (F&L), the Marketing Department, and the Corporate Communications/Public Relations Department (CCPR). Each of them has a prescribed role in relation to the company. The A&I Department is, in the words of Ramam, "It is the blood of the company. The department is in charge of defining the objectives of the company and bringing about new ideas for the company's benefit. It is, quite literally, the company's room of thinkers."
The F&L Department basically look after the cash requirements and the budget of the company. It also deals with any legal issues which the company may encounter during the course of its existence. The Marketing Department's role is to promote the events which come up, so that the entire student body becomes aware. The CCPR Department is the link between the world and the company. This department is responsible for the organization of events, communicating with other firms, and issuing press releases and conducting interviews. Each of these departments contains 8 members, except for the F&L, which contains only two. The Company conducts its regular and executive meetings once every fortnight, but can also conduct emergency executive meetings if the situation so demands.
So far the employees of the Busiology Incorporated have been to Touchwood Interiors where the real-life business scenario was observed by the students. The students conducted interviews to find out more about the corporate environment. The students also checked out the working and cooperation of the departments of the company, and also learnt how to conduct themselves while at work, and also how to handle any problems that may arise during the course of the day. The company still has a lot of activities more planned for the students, which will take place after the vacations.
Additionally, on a closing note, Pradhan stated, "We are very happy with how things are currently going at The Busiology Incorporated." Thereby, confirming that the company's employees are pretty happy with the way things have turned out, and have high expectations.
- Written by, Izaan Khan, Senior Reporter for Light House.