Alumni Role in Strengthening IA Relations

Alumni role in strengthening the Industry – Academia relationships

By Mirza Zia Hussain

MBA (P) Batch 16 class of 1998-2000

It’s always pleasure for me to write for Alumni and my alma mater. This time I am brining my thoughts on Alumni role in strengthening the industry – academia IA relationships. ILM/UMT is on positive side for their alumnus and always back their graduates on the other side we ILMIANS are also setting a role model whenever our alma mater called us.

Considering the significance of this issue countries like us are giving due importance to AI relationships. Although Pakistan, among other Asian countries is far behind in developing such relationship. There are many reasons but it’s always feel that without IA linkage preparation of human capital as per the era’s demand is not possible.

UMT is a great learning place and offering many programs in 55 disciplines in their 16 schools and three institutes. The university has +25000 students enrolled with 30K alumni around the globe. During the last 30 years university graduates made a significant contribution in their positions locally and internationally. We have names recognized as national entrepreneurs, top most seniors in all sectors of Pakistan.

Universities serve the industry in two ways. It provides the workforce necessary to run the industry, and two, it furnishes innovative ideas to start new business endeavors. This seeming simplistic relationship does not work so simplistically because of the essential differences between the two. Universities desire to contribute to the theory. On the other hand, the industry is restrained by profitability.

Therefore, academia and the industry are parallel to two sides of a river that flow individually. As far as science and engineering disciplines are concerned, creating linkages between the two sides of the river has the potential to contribute to the betterment of both—the industry and universities.

Pakistan among its other Asian counterparts is lagging behind in the development of quality products and its export to the world due to lack of Research & Development (R&D), which leads towards lack of advancement in science and technology and lack of innovative products.

In Pakistan out of 195 HEC-recognized public and private universities, 114 are collaborating with 85 public sector organizations. Higher education of a country and advancement in science and technology are two major fields which have a key role in developing a nation but we are facing budgetary cuts in these fields. Unfortunately, a recent survey shows that Pakistan ranks at 125th among 132 countries in terms of budgetary allocation for higher education.

Maintaining attraction with alumni after graduation can provide invaluable, lifelong support to UMT and currently enrolled students which are now 25000 and seems to 40K soon. Ensure to engage alumni immediately after graduation to avoid intervals in contact which may lead to permanently losing the connections. It is significantly easier to maintain relationships than to build them later. The Global Industry Classification Standard clarifies that currently, there are 24 industry groups, which are listed below in alphabetical order:

1.???????????Automobiles and Components

2.???????????Banks

3.???????????Capital Goods

4.???????????Commercial and Professional Services

5.???????????Consumer Durables and Apparel

6.???????????Consumer Services

7.???????????Diversified Financials

8.???????????Energy

9.???????????Food, Beverage, and Tobacco

10.?????????Food and Staples Retailing

11.?????????Health Care Equipment and Services

12.?????????Household and Personal Products

13.?????????Insurance

14.?????????Materials

15.?????????Media and Entertainment

16.?????????Pharmaceuticals, Biotechnology, and Life Sciences

17.?????????Real Estate

18.?????????Retailing

19.?????????Semiconductors and Semiconductor Equipment

20.?????????Software and Services

21.?????????Technology Hardware and Equipment

22.?????????Telecommunication Services

23.?????????Transportation

24.?????????Utilities

An industry group is not the same as a market sector. The GICS categorization system includes 11 sectors, 24 industry groups, 69 industries, and 158 sub-industries, indicating that a market sector is typically broader than an industry group. The market sectors under GICS are:

1.???????????Communication Services

2.???????????Consumer Discretionary

3.???????????Consumer Staples

4.???????????Energy

5.???????????Financials

6.???????????Health Care

7.???????????Industrials

8.???????????Information Technology

9.???????????Materials

10.?????????Real Estate

11.?????????Utilities

Now UMT and ILMIANS both needs to build a bridge which bring both sides to support university in preparation of a road map which serve the industry as per their requirements. The office of Alumni is playing a very significant role and can play more vital role by engaging alumnus in different ways to get the recent industrial updates. This is a two way traffic which can contributing in the grooming of our future leaders, managers, entrepreneurs and most important a patriotic nationals who remember nation, country, community and alma mater. Let’s increase our speed on this highway of knowledge, research & development because the goal is to prove that ILMIANS are fully equipped with the modern skills and updated knowledge. If we follow the path then we will claim for our passing graduates to industry – come – see – meet and select. Here at UMT we have best human capital suit for each sector of industry.

UMT my Love

Live long UMT