Once I got an opportunity to accompany Mr. J. Mehta (one of the faculty members of an MBA program at a reputed B-school) to interview fresh candidates in a Personal Interview (PI) session. It was the auditorium of the college and the interviewer’s desk was right in front of the stage. The table was lined with profiles of candidates who have cleared their Group Discussion (GD) session. After settling down it was time for the first candidate. I remember telling Mr. Mehta “What a suffocating environment this is, forget about the candidates, I feel pressurized sitting this side of the table.” To which he calmly answered, “That’s the drill, this is to ensure how the candidate would handle situations in crisis period. I tell you confidence is the key.” After scrutinizing 10 PI candidates for a long session of three and a half hours, I came out of the room exhausted but the things I learnt from interviewing the students has helped me built a clear picture of why assessing a candidate in GD-PI for a Management Course is so  important. In fact, these are the traits not only a management program candidate must have but professionally the grooming is required for a successful career.

I am penning down this article to assess that exact point.

Group Discussion (GD) and Personal Interview (PI) are the two most important dimensions of the selection process for any management program. B-Schools conduct GD/PI once the students have gone through the bradawl of CAT, MAT etc. and have proved themselves on the academic ground. GD/PI sessions assure the faculty and the selection committee that the candidates they are hiring can be trained and polished to be managers. The entrance test checks the basic knowledge to understand the course whereas the GD/PI checks the basic of analytical and logical thinking, the personality of an individual, the ability to take decisions under pressure and various other personality traits.

GROUP DISCUSSION

GD generally spans over 10-30 minutes and is conducted with an objective to select the candidates who are team players and not individual contributors. During the Group Discussion, the panel evaluates the candidate’s potential to be a leader. The topics could be related to current affairs or any social cause, the GD topics helps panelists assess the candidate’s overall personality. Some may speak against or for the topic, so your stand matters and it helps the selection committee, to judge your ability to analyze the given topic. During the discussion the focus is always more on you placing your point of view strongly against all odds, in a polite manner.

Here is a list of skills assessed during Group Discussion:

Awareness of the Topic: As I mentioned above, the topic could revolve around anything happening or has happened in the surrounding. Your speaking skills are evaluated on your general awareness, knowledge of the topic and what stand you have taken for it is also considered. Also, if you give relevant examples then it would be even easier for the selection team to understand that you are a regular reader and you take the problems, situations and current affairs seriously. It’s a win-win situation then.

Good Listening Skills: Yes, it’s important. When one speaks you should let them complete, else panelists would think you are trying to dominate hence you prove not to be a team player. You also have to understand what the other person is saying so that you don’t repeat yourself on the same points.

Confidence: You have all the knowledge and good listening and analytical skills, but if you lack confidence while speaking, panelists may not pay much attention to what you are saying. Even if you are making a strong point, lack of confidence can lead to a loss of opportunity. Don’t be loud but don’t be inaudible as well. Observe how others are talking and drift to that side instead getting aloof.

Speaker: When the panelist gives a topic to a particular group they mostly ask someone to introduce it. It could be you. You have to take it as an opportunity. If you give a good introduction of what you think of it, you would be noticed then and there.

PERSONAL INTERVIEW

Your people skills will be checked in GD but the personal interview gives you an idea of where you stand in terms of your own standards. You may go through a lot of course books to understand the format of personal interview but you have to know yourself first.

Why you want to pursue MBA or what are your personal goals or your hobbies or your strength and weakness, these are kind of questions that you would face during your personal interview. Yes it’s nothing different from getting into a multinational company.

I remember Mr. Mehta asking a candidate who scored 98 percent in CAT, “Do you consider it as a great achievement for you?” and the confident boy without a second answered, “Yes, it is a great achievement as I had put in a real hard work in the preparation but at the same time it is only half a battle won. If I clear the PI session and qualify for the MBA then the achievement would be counted in real.”

The best way to tackle interview is to sit and know you in and out. Think why you want to pursue MBA. Take a pen and paper and make a list of your strengths and weaknesses. It will help you analyze your personality and prepare for questions that may be asked during the interview.

Here is a quick list of skills assessed during Personal Interview:

Goal Clarity: You should have an idea about the MBA program and how it will help you achieve your long-term goals.

Know Yourself: Be well versed with yourself. Right from your family background, to the city you belong, your school, friends and every aspect of your personality can come into the picture. It’s very important to analyze yourself before entering the room. Remember, your introduction marks the beginning of a personal interview – here you influence the interviewer.

Keep Calm, be Confident and Honest: The room, the faculty members, the quietness of the room, everything can give you a reason to be nervous but be calm. It’s the testing point. The panelist will try to grill you on your weakness or on the answers you are giving. Just keep your calm to answer them confidently. Honesty in your answers can well be ascertained through calm, composure & confidence you display.

Be Original: You have your own strengths and weaknesses. So face them the way you want it. Don’t mock. Don’t go over the top. Remember spontaneity is the key.

This was my understanding on the significance of GD-PI. And I hope this will help you and all the candidates who are planning to crack the entry to an MBA Program.

Contributed by Jigyasa Laroiya

I have always been a close observer and I find my train rides on my way to work very amusing. The reason is you don’t get bored even if you are travelling a longer distance because something interesting or the other keeps happening and that way I acquire inspiration in my writing. Once I was getting back from work when I overheard two classmates or rather friends chitchatting about their MBA classes. If you wouldn’t have heard their conversation, you wouldn’t have taken them as pals because they came from different walks of life. One appeared to be a fresh graduate from Northeast India (it’s not that I can read faces but yes with the accent it was clear) and the other was a Marwari businessman (little elder to the former one). With their conversation it was pretty clear that their goals were different as the elder one was pursuing MBA to take ahead his family business whereas the younger one dreamt to make it big in the corporate world. Now, you tell me isn’t it quite interesting how two people from completely different backgrounds, pursuing the same course to meet their respective dreams. What a blend! How could I have missed such an inspiration to pen down my thoughts on MBA Program being the base of blended learning?

I believe that blended learning is the future of the industry and MBA programs are constantly adding inherent values to make that future even brighter. I’d like to share some reasons why I believe so.

A BUSINESSMAN OR A FRESH GRADUATE – Blended learning welcomes everyone!

With my experience, I always find people from every possible background, be it engineers, arts graduates, science graduates etc attending MBA classes on a regular basis – the reason is simple, the course offers flexibility. Blended MBA learning program provides an opportunity for students to learn in a format that closely resembles their current work or business environment (work teams that stretch across time zones and cultures). And the program makes them work as a team. They come for classes, attend lectures, and complete their coursework on the timeline they have created for themselves with their teams. There’s no individual learning. You are trained to learn things in team wherein you get a chance to lead by being a team leader. That’ very important post the program because be it in a multinational company or a small business you set up, you have to run it with teams. Individual approach doesn’t work.

A MATTER OF CHALLENGE – Blend in it and overcome it to stand as a winner

I wish you could see those energetic faces of those friends who were travelling with me in train. All through their journey they were discussing about the engaging program, how it made them confident to speak in front of the whole class. The younger one even said it with excitement, “Dubey Sir is too good. I have never experienced professors making you feel like their buddies. I can approach him anytime with any doubts.” To which even I nodded. Students when come for their face-to-face sessions—they certainly don’t feel it is any less challenging! But they certainly learn to overcome it with each progressing day. And how? Well the way they get the freedom to decide on how to optimize their engagements with their professors and each other; they learn to deal with every challenge, from public speaking to team leading. I have also mentioned in my previous posts that soft-skills @IBS create the perfect blend of knowledge with perfect execution.

STRONG PROFESSIONAL NETWORK – Blend in to know the who’s and how’s of the industry

Be it the internship program that you take up during the course or the faculty members or those corporate guest lecturers; these things do help you to know the work culture well. Also, I feel that some of the strongest professional networks are made up of alumni who have completed an MBA program and have experience the benefits of blended learning not just in the course but in practice too. Not only do you have access to the larger business school community, you have a special relationship with those individuals with whom you’ve completed your degree.

This again reminds me of the conversation the train mates were having. The elder one while teasing the other one, “Look don’t forget to get me business when you get into a better position at your multinational company.” While the younger one smiled and agreed to every word of it as he was determined that the bond isn’t getting over any sooner.

In many cases, blended learning takes advantage of the use of cohorts—students move through the program together and end the program with the same group with whom they started. As a result of this intense experience, we find that the alumni of this program feel an even stronger affinity to each other and those who have completed the program either before or after them! These program help you build professional and personal relationships that serve you well throughout your career, providing essential mentoring and contacts.

KNOW THE SURROUNDING WELL – Blend into varied cultures to be socially responsible

As I mentioned earlier, MBA opens the door for students from different parts of the country and even beyond, it becomes a social hub for students who get to know the cultures of others so well. Apart from learning discipline, ethical and moral values, the mixed culture makes one to be socially responsible. You must be thinking how! But it’s true the moment students are exposed to certain cultures or communities they learn the brighter side of them which otherwise people overlook possibly because of no interaction whatsoever. Students start thinking rationally and not what society has been forcing them to think. The acceptance also increases as they start learning together as team members. The blending of different cultures prepares them to face even the corporate world, builds their confidence to strike any conversation with any of the team member, and helps them distinguish between what’s right and what’s not. It makes them grow as a social person. I remember, how our dean fondly use to call our batch as a – Mini India batch for the diversity of students.

Visit us at IBS or check out our social communities and experience the blend & benefits of it, you just cannot ignore.

Contributed by Jigyasa Laroiya

Few months ago, one of my cousins who had recently completed his graduation sought my advice. He was pondering whether to join an MBA course or not. For this purpose, he wanted to discuss with me. After hearing his concerns, I advocated five signs that he must look out for in his life that can help him decide if he must pursue an MBA degree.

If you are on the same boat as my cousin, you should consider the following five signs which might help you reach a decision.

1. You are convinced what you want to DO with your MBA

An MBA degree is not a magic wand for success. Add to that, the huge cost of investment. Be it an Indian B-school or the one that you have been eyeing outside the country. They all a require lot of money. And the return on investment? Well, it depends. So, what should you do?

Obviously, you must do an MBA as long as you know what you want from an MBA degree, and why you must study it. Stephen Covey, famous author, puts it like this, “Start with the end in mind”. I know it is a dreaded interview question – where do you want to see yourself in next 5 or 10 years. Only variation this time is, you are asking this question solely for yourself. When you have the clarity of your career goals, evaluate how MBA will help you achieve them.

Many are motivated by the kind of salary MBA graduates earn. Some want to pursue it to change their field or industry. Faster growth in their career is another common reason.

• Do you plan to enroll for MBA because your friends have also joined an MBA program?
• Did some in your family ask you to earn that elusive degree?
• Did you plan for further education as you do not have a job after your bachelor’s degree?

Is your decision influenced by any of the above scenarios? Think over again and again till you find a valid reason. Do not make any hasty decisions. It has to be your reason, not someone else’s. Otherwise MBA will be merely a degree and an investment for you, with no return.

2. You dream of an entrepreneurial venture but do not know where to begin from.

Probably you are familiar with the adage – ‘Jack of all trades, master of none’. Do you still believe in it? A business, whether small or big, entails many aspects of management, ranging from sales and marketing, finance, human resources, operations to strategy. To quote Henry Mintzberg, an internationally acclaimed academician and author on business and management, “Management is, above all, a practice where art, science and craft meet”. Your journey to become an employer will need a holistic perspective of business. A safe bet for you is to start from MBA.

• Did running a club in college excite you?
• Do you like to lead or follow someone?

The entrepreneurial venture may excite you. You may be just out of your college or have spent years in some job. Whatever is the case, the idea of having-something-of-your–own still glitters in your eyes.This includes the expansion of your family business, which you are expected to join soon. But you do not have the necessary capital to turn your dream into a reality. This is where a B-school can come to your rescue. You can leverage the network of a B-school (Read: venture capitalists, funding agencies) that can help you secure funding.

How many times have you heard that many business stalwarts never went to a B-school? But did you know how many more went to a B-school?

3. When your boss hands you more responsibilities of the Project

Well, this can easily turn out to be a double-edged sword. Do you foresee that more responsibilities will pile up your woes? Or, is it the growing recognition of your performance and potential? It depends upon your perspective.

• Are you the one who loves challenges?
• Have you ever turned a seemingly threatening script into an opportunity for yourself?
• Do you manage well in office because you can multi-task?

If you agree and have not joined an MBA course, this is the moment. You have it in you to pursue an MBA degree. Your boss has inconspicuously paved your path. It is time to hone your skills and get a formal degree of management.

You are the person who handles changes dexterously. In a B-school, you will often have to surmount numerous challenges. It could be the last minute assignment submission, the environment around you, priorities for the day or the club meetings.

Many times, working professionals look for a change in their career path. They sense they are stuck in their present role. Promotions or salary increase are hard to come by. Moreover, people in technical or in a specialized area want to make their career in the field of management.

4. You are impatient to know how the CEO of your company runs the business.

The moment this question props up in your head, you must contemplate the pace of your career progression.  What is it in him that you do not possess? Merely an MBA degree? Think again.

Heading a business organization is predominantly about business skills, business acumen, experience and wisdom.As a potential management member of a company, you need to be open-minded, ready to experiment and most importantly, take risks. In the words of a renowned consultant and speaker, Tom Northup, “No great manager or leader ever fell from heaven; it’s learned, not inherited”.

Hence, now you know more about your CEO. At B-school, you will learn plenty of these skills and add the business models, methods and frameworks. Though your source of inspiration may be your CEO, the road you need to walk is an MBA program.

5. You love to have more ‘friends’ and ‘followers’ on your social media platform.

Ah, did I put an extra smile on your face? I bet I did.

• Do you like networking and connecting with people?
• Are you a people-oriented individual with good interpersonal skills?
• Do you understand human relationships and value them?

You must be glad to possess these qualities in you. A B-school is a perfect place to build your own network. Every school has an alumni network which you can tap into for your future. Very often, the alumni network is one of the driving forces behind the successful brand of a B-school. Remember, they can be prospective recruiters too. Networking, thus, assumes a huge significance in your professional career.

According to one survey by Financial Times, networking was the third most important reason why one opted for an MBA. It even surpassed reasons like prospects of promotion and changing jobs or careers. 95% of the respondents who valued networking said that it had worked for them. Not just with the alumni, you can also build excellent rapport with your peers too. All of them have congregated in the school with their own distinct and clear goals. They will be the most important pillars of your network.

Let me add a sixth and a bonus sign here.

Of late, you have developed an aptitude and liking for something called Excel Spreadsheets. Welcome to the league!

Contributed by Suyash Chopra (Batch 2008-2010, IBS HYDERABAD)

Numerous questions pop up in the mind when one is considering an MBA degree. Most of them revolve around the value that it would add to the professional as well as the personal life of the candidate. While the questions and reasons for opting for an MBA course may vary for many people, there is one aspect of doing MBA that crosses everybody’s mind, at least once. It focuses on the monetary aspect.  Read on to know more.

If you are considering going for an MBA degree, these questions must have bothered you sometime or the other.

1. Is it better to take the step from overall stand point including the financial angle, or,
2. It is not worth the effort and cost

Let us address these questions so that you can direct your thoughts and take the best decision.

Due to rapid advances in computerisation, means of communication and faster modes of travel, the whole world has virtually shrunk. In today’s world of cut-throat competition only the best would survive, sustain, grow and flourish. In short, it is a time where ‘SURVIVAL OF THE FITTEST’ would best describe the business world.

If you hold a graduate qualification and are employed in a good job, you would naturally be thinking whether it is better for you to take another leap by joining MBA and look towards a better future. It is presumed that you are financially in a position to sustain living expenses as well as college fees and other educational expenses, since study loans are easily available. The decision involves two aspects. One is of prestige, status and social standing and the second is purely economic / financial in nature. Both aspects need to be considered.

In fact, both aspects add up in calculating the Return on Investment (ROI) of doing an MBA. Let us first understand what we mean by ROI. Whenever a person invests any money and other resources in a business or any other venture, he would be expecting good rate of return on his investment. For example, the simplest investment is to purchase government securities which provide safety and reasonable rate of return. For any other types of investment, one needs to forecast returns over the entire project period and calculate the rate of return, which ideally must be attractive and much higher than that achievable in government securities. So, the return on investment is the quantified benefit that would be achieved on investment.

Let us first consider the economic aspect. Fees and expenses involved in different institutions vary in a wide spectrum, so is the value of their degree in terms of employment potential, i.e. opportunities and options. We need to calculate the rate of return on the investment being contemplated. The investment includes all the expenses to be incurred during the study period and foregoing the opportunity of the existing job remuneration.

Several studies and surveys have been undertaken mostly in western countries to arrive at an approximate ROI on the expenses. Most of these studies have focussed on determining the payback period to recover your investment. This is short sighted view. An average-ranked institution may be able to provide a shorter payback period, but may not provide larger benefits in the long run. The option of not taking up MBA may look attractive since no expenses are to be incurred while the existing income continues. So we need to look at the entire working life span of the person. Let us consider an example to illustrate the concept;

We consider the following:

Age of MBA aspirant: 25 years

Retirement age: 65 Years

Interest rate: 5 percent

Present Annual Salary: Rs 4 lakh (assuming he/she is working)

Suppose the aspirant decides not to do an MBA:

Without MBA degree total salary expected:

Rs 4 lakh and growth of 6 per cent per annum.

Analysis of Cash Flows (without MBA):

Initial Cost = Rs 0 lakh

Cash Inflows = Growing annuity of Rs 4 lakh for 40 years with growth rate (g) of 6%

= Rs 1,84,41,672

Suppose the aspirant decides to do an MBA:

Education Expenses:

Initial Cost for doing MBA = Rs 40 lakh at current level (say)

Present Annual Salary: Rs 4 lakh (assuming he/she is working)

With MBA degree salary expected after completing MBA course:

Rs. 12 lakh and growth rate of 8 per cent per annum.

Analysis of Cash Flows (with MBA):

Cash outflows:

Initial Cost = Rs 40 lakh at current level

Foregone Salary for two years = Rs 4 lakh + Rs 4*(1+0.06)/1.05 lakh

= Rs (4 + 4.04) lakh = Rs 8.04 lakh

Cash inflows:

Growing annuity of Rs 12 lakh for 38 years with growth rate (g) of 8%

= Rs 7,66,72,723/(1.05)^2

= Rs 6,95,44,420

Gain = Rs 6,95,44,420 – Rs 40,00,000 (Cost of MBA) – Rs 8,04,000 (Foregone Salary)

        = Rs 6,47,40,420

So we can see here the comparison for entire working life;

From the above table we can see that financial gain from doing MBA is Rs 6,47,40,420 which is quite impressive and almost Rs 4.63 crore higher than the person who does not do MBA.

It is quite obvious that going for MBA from a reputed institution is a better choice for the individual.

The main issue is to predict the likely growth in the present employment. Also the starting salary and the growth rate potential expected after the MBA qualification need to be estimated. These figures can be assessed based on data provided by the institutions, published data and one’s own experience through the contacts and networks.

Now, let us look at the second aspect of prestige, status and social standing. If we see two people introducing themselves as follows;

1) I am a BA/ Bcom/ BE/ other graduate and MBA from ICFAI Business School (I.B.S), Hyderabad, one of the premier B Schools in India.

2) I am a BA/ Bcom/ BE/ other graduate

We can see that the pride that is added to one’s life is immeasurable in the first case and it will have a lasting impact for the entire life span of the person, professional or otherwise.

Next, let us look at the aspect of the social benefits. If you are unmarried, you may attract a spouse of higher stature; your children may feel proud of your achievement. There will be cascading effect and your children may excel in their respective professions as well. On the whole, you may enjoy a higher standard in all aspects of personal and professional life.

Now we come to the most important aspect of quality of professional life. You would be preferred for positions of higher responsibility involving more skills, responsibility & imagination. Your views and inputs will be considered and can have a great impact in the organization’s decision making process.

These aspects cannot be quantified and these benefits are in addition to the financial gains worked out above.

So, the punch line is;

Decide to go for an MBA degree and select a good institution for the same in order to obtain long term i.e., life-long benefits.

Contributed by Sumit Gulati (Batch 2007-2009,IBS HYDERABAD)

When is the right time for MBA?

You probably are at the cusp of your career and wondering what you should do next. Should you go for higher education like business management or should you work for a few more years? This is never an easy decision to make or a nice situation to be in, as many of us have been there and overcome that phase. I can say from my own experience that I lost a lot of sleep over it and finally when I did decide, it was not a very convincing one. I still had the apprehension of not working a few more years to gain more experience and whether I had jumped the MBA bandwagon too soon. However, once I started the program, I knew I had made the right choice. More on my conviction later, but right now I want to shed some light about this conundrum of whether to work or opt for a MBA program.

Harvard Business School professors SrikantDatar and David Garvin and research associate Patrick Cullen began a comprehensive research study to explore the state of MBA education. Their findings comprise the book, “Rethinking the MBA: Business Education at a Crossroads” ‘1’. In the book the authors make the case, that although much of conventional business education is still relevant, much of it needs to be rethought. In an interview ‘2’ by Harvard Business Review, Professor David Garner explains how much work experience is necessary before pursuing MBA. The professor analyzes that once you have a couple of years of job experience; it provides enough experience to connect with during your MBA education. Additional years of experience do not add a lot more to your learning. I think this makes perfect sense. Once you know how a business operates, you can educate yourself with knowledge from business school, understand the context of your learning and apply yourself better after graduating. Being a master of the job before studying does not provide a big advantage. If only I had access to similar information during my days, I would have saved some precious sleep time.

What can you learn in MBA?

Now that you are assured that an MBA program can be pursued at any point in your career, the next big question is what you will learn during the time you spend in the business school. The first year curriculum is usually structured towards the core subjects of business management – accounting, economics, finance, marketing, operations, organizational behavior (also called human resources) and business strategy. Once you have a strong foundation built from the learning of the first year, you then have a chance in the second year to select electives in finance, marketing, human resources, information technology or some other stream of specialization. Each of us have a dream and based on that we can select a specialization in MBA. You can weigh your strengths and interests to decide the subjects that you should specialize in. However, what you want to do in life should influence your decision in a major way. It is important to understand that the electives prepare us for our future domain of expertise and helps us gain competency in a particular area more than other topics. Someone who wants to be an investment banker would opt for finance specialization and acquire mastery over number crunching. So, in reality the electives help you acquire specific skills that are required to be successful in the vocation you select as your career.

Let us go back to what the Harvard professors, Srikant Datar and David Garvin, mentioned in their book about the need to rethink MBA education. Most leading business schools now-a-days provide opportunities to gain hands-on experience through industry interaction, projects integrated in the curriculum and credits attached to such projects. This becomes very beneficial to students since they don’t have to wait for the course to get over to apply their learning. Application of knowledge to real life business situations occur during the learning stage only. Any disconnect or positive experience can be appraised in the education process, thus improving the overall learning. The case study method of teaching is also a significant part of the course in many business schools. Problems in the real world do not come with tags labelled finance, marketing or IT. Case studies with real business problems prepare you to identify typical situations that you will face in the external world and come up with practical solutions.

A big boost to your personality

Aside from the course curriculum, the variety of activities all the students are exposed to during the MBA program transforms them completely. After two years of team oriented activities, regular interpersonal communication, peer discussions, preparing presentations overnight, the rigor of assignments, managing and resolving conflicts daily and participation in contests, you come out with a whole new personality that will pleasantly surprise you. Smart, suave, confident, assertive, good communicator, holistic perspective and problem solving approach are some of the qualities you will imbibe. Your batch-mates and teachers will become part of your network that you will remain connected with in the future as well. You will be able to contribute, as well as ask for help from this network throughout your life.

These two years are also a great occasion to develop your leadership skills. Whether you become an entrepreneur or a top executive in life, you will need to influence others and make them work towards a shared objective. You will get some scope to provide coaching to others and also receive assessments for your initiatives as a leader. In the current environment where changes happen at a frantic speed, business needs leaders that can quickly grasp the needs of people and render solutions to those needs even quicker.

“My job as a leader is to figure out where the world is going and make sure our company is there when the world arrives at that place,” says Ron Shaich, Founder, Chairman & CEO of Panera Bread.‘3’

Thirty years ago, Ron Shaich set out to change the world by changing the way America eats. By founding not one, but two, successful restaurant concepts, Au Bon Pain and Panera Bread, Shaich shook up the industry by offering an antithesis to fast food—handmade, artisan food served in warm and welcoming environments by people you can trust.Today, Panera Bread serves over eight million people each week, employs over 80,000 associates and is a leader in the restaurant space. ‘4’

What about your career?

In the short term an MBA education will surely benefit you in a competitive job market, as it opens up opportunities and arms you with skills for the workplace. Companies prefer employees who can transition quickly to the demands of business. An MBA program from a good school prepares you for that transition through case studies, industry interactions and team based projects. The long term advantage from MBA occurs when you have had a few years of experience and are striving for growth.

“The fact still remains that 42 CEOs of the Fortune top 100 companies hold an MBA.” Employers report that MBA post graduates are people with high degrees of credibility, are extremely confident and are able to positively influence their peers. ‘5’

Sources:

1http://www.hbs.edu/rethinking-the-mba/

2 https://www.youtube.com/watch?v=XBxtrbj_yXU

3 An MBA that served up a big slice of the snack market, by Rebecca Knight

http://www.ft.com/intl/cms/s/2/b384f7d6-e272-11e3-a829-00144feabdc0.html#axzz3Jm9j6PYN

4https://www.panerabread.com/en-us/company/about-panera/management-bios.html

5 http://www.thecompleteuniversityguide.co.uk/mba/how-will-studying-for-an-mba-benefit-you/

Contributed by Amitava Kundu ( Class of 2002, IBS BANGLORE )

All work and no play makes Jack a dull boy! And no one hires a dull boy, right? Neither your dream B-School for which you have been slogging hard, turnings days into nights nor the high paying multinational company where you see yourself a few years from now, sitting in a swank office discussing sales targets and financial reports with your colleagues.

Agreed that a strong academic report card with numerous ‘A’s proudly highlighted will put you right up there with the crème da la crème, but ask yourself this: Which Indian home hasn’t instilled in their child, the importance of good marks? What will then make you stand out in the fierce competition in the run to a good B school? What will help enhance your profile?

Aiming for an all-round development, being the ‘Jack of all Trades’ with equal participation and passion in non-scholastics as in academics, is the way to go because as Chip Conley rightly said “Intangibles are Important”

A manager or an entrepreneur must be equipped to face the unexpected, instead of focussing on certain things. Non-scholastic goals help in a holistic understanding of the society and the world which can help one to face a wide range of real life problems. Academics often get limited to theoretical problems and solutions; however an all-round development requires a creative solution to real life problems as well. These non scholastic activities provide an excellent way to experience; they are your true measure of the ‘Intangibles’

• Time Management and Multitasking
  Say you are in the college cricket team. You wake up every day with the sun, soil those white pants while practising in the nets, attend your classes, study for your CAT and still find time to help your kid sister in her mathematics test tomorrow, all in a day. Who wouldn’t be impressed?Having interests outside of your academics goes to show that you can balance multiple commitments with the limited number of hours at hand, and that as a future manager you are well equipped to juggle sales targets, presentations, conferences, recruiting, managing a team and more.
• Contributing to the Society
  Community involvement, volunteering with an NGO or being involved with any social sector goes to show that you have a larger view of the world outside; that you can see beyond ‘I-Me-Myself’ by contributing to the society. As a leader, it is important to give back to the society. With growing awareness of corporate social responsibility, contribution to your surroundings is being valued increasingly. When your personality embodies the larger life, management schools take that as a plus, as they know you will not disappoint as an alumni.
• Long Term Commitment
  Say a student was on the swimming team throughout high school and college. She then took an extra year to prepare for her B-School entrance exams while she helped coaching the middle school swimming team during the same year. Here, not only did she showcase her athletic abilities but also highlighted her commitment for her passion. The admission counsels will know that she is driven and committed and that the extra year was utilized in a productive manner.Let’s take an example. If you have been pursuing your hobby or passion since school and kept a balance between your work and play, it not only indicates that you are a high achiever but also that you are reliable, dependable and a committed person. Long term commitment is what all companies look for in their employee and they will also go the extra way for you if you show them that you are loyal.
• Relationship/Networking Skills
  Business not only thrives but it survives on networking these days. A constricted view of the world is often very limiting to one’s progress. A well-rounded, aware and sociable person who can engage and interact with different people is ultimately headed for more success than one with only academic excellence. It is in the extra-curricular activities, such as being the member of a sports or dance club, being part of a local NGO, being the lead guitarist of your school band etc., where strong relationships are formed. The bond you share with those who share common goals and passions go a long way. The skills you develop overtime interacting with individuals with different personalities and temperaments help you in the business world too. Who knows, after a decade you might get together with them again to start-up your own entrepreneurial adventure.

• Passion and Creativity
  Imagine a student who enjoyed dancing as a hobby until she was accepted to a multinational IT firm. She initially found no time to invest beyond the working hours. However, when she became involved in a company-sponsored fundraising initiative, she rekindled her passion to raise extra money by teaching her colleagues to dance which also helped unite the team.She did not only showcase her artistic talent and interest, but she was also involved in a greater cause, demonstrated her passion, creativity and leadership. This adds value to her resume and puts her straight into the top application by the management hiring committee.Your extracurricular activities do not have to be run-of-the-mill experiences nor have to come to a standstill once you get a job. Follow your passion and even though it might not be related to the business you are in, the leadership, initiative, passion and creativity that go into nurturing the passion will enhance your personality and reflect the same to the potential employers.
• Leadership Skills
  Leaders are distinguished as those who are resourceful, problem solvers, promoters of school activities, idea-contributors, dependable and who exemplify positive attitude about life. Leadership experiences can be best drawn from non-scholastic or community activities while working with or for others. It doesn’t necessarily mean that you have held a title; any activity that shows that you ‘took a lead’ will help interviewer assess your abilities.When you apply to a business school, there’s a lot about your profile that is already set in stone – where you have studied, your career till date – but extra-curricular activities is an area where you can enhance your profile. Of course it is essential to have good grades too. It is the balance that will help you win!If you are still in the process of filing your application for an MBA School, you should consider listing the extra-curricular activities that interests you so that you are motivated to make an impact and really get involved. It is never too late to make the change. Think quality over quantity and start now. And if you are a working professional and are wondering ‘Where is the time?’ well think again!Also remember, not all your passions need to be altruistic, even if your hobby is as simple and clichéd as playing for your school cricket team, focus on how your interests bring out your personality and increase your worth vis-à-vis the intangibles. Secondly, B-Schools do not disregard solitary activities such as reading. True, they are less compelling as they do not involve team initiative and leadership skills but you can tweak this hobby to make it your strength. Consider reading short stories to street children or join a reading club that also helps raise funds books for a community school or library.

  Know your passion and make it work for you; know how an extra-curricular activity will help complement your personality together with your academic and professional goals and get an edge over your competitors.

Contributed by Aditi Kaushiva ( Class of 2007-2009, IBS GURGAON )

Reading should be a daily activity for an MBA aspirant/student. It is not a tough nut to crack that an MBA student would benefit from reading books that would guide them for a better future, but apart from that, reading helps you in several other ways too, like expanding your vocabulary, improving your analytical thinking skills, providing tranquility and last but not the least, providing free entertainment! Dozens of management books are written every year, however most of the MBA aspirants/students do not have time to explore all of them due to paucity of time, hence here is a comprehensive list of books that are worthy of special attention:

1. The 7 Habits of Highly Effective People by Stepen R Covey: This is one of the finest management books ever written. The Seven Habits of Highly Effective People explains a useful set of guiding principles that help you change personally as well as professionally and in turn become more effective. The Seven Habits help us move through three stages of personal development. The first three take you from dependence to independence. The next three usher you through interdependence, and the seventh is needed to reinforce the others. The seven habits are: Be Proactive; Begin with the end in mind; Put first things first; Think win-win; Seek first to understand, then to be understood; synergize and “sharpen the saw”.

2. Good to Great by Jim Collins: This book involved a lot of analytics before it was printed. Jim Collins and his team analyzed how a lot of companies succeeded and what becomes abundantly clear in reading Good to Great is that there is no secret program, no “right timing” or “good luck” that was singlehandedly responsible for the success of any of the companies analyzed in this book. Instead, Collins and his team present, that the “Good to Great” companies simply, deliberately, defined their fundamental strength(s) and then systematically changed their behaviors and activities to ones that complimented those strengths. Repeated over time, these focused activities led them to great success.What makes Good to Great so powerful is that it not only provides the findings, but also gives instructions on how to recreate the same effects in your own life and/or business.

3. Snapshots from Hell: This book has been written by a very powerful man whose career depended on the words he wrote. Mr. Peter was the former speech writer for then-Vice President George H.W. Bush and President Ronald Reagan. His quest for understanding the business world made him land into one of the finest B – Schools of the world- Stanford. His view of how the premier B – schools actually function throughout the world is kind of frenzied! It clearly displays how an MBA is rigorous and hard as compared to any other post graduate degree in the world! For those who are currently pursuing their MBA or are done with it will easily be able to relate with the story! The book clearly distinguishes the business administration specialization with all other courses which helps in grasping quantitative disciplines, theories, practical, financial and simultaneously doing a lot of mental labor isn’t an easy task. Understanding every aspect of business and that too in detail right from marketing, operations, statistics, human resources and finance is certainly not as easy as a pie. The book is interesting and written from a student’s point of view with almost 95% accuracy! It is a must read for those who are doing an MBA and who want to pursue it!

4. Connect the Dots by Rashmi Bansal: There are very few English books written with an Indian audience in mind and Rashmi Bansal’s “Connect the Dots” is one of them. The book is a collection of 20 inspiring stories of entrepreneurs who never went to any B-school. They were driven by the desire to realize their passions. To lead interesting, passionate and meaningful lives. Their stories echo one sentiment clearly – You need dream big and make it happen. It’s all in your head, your heart and your hands. Written in the form of a conversation, the author here questions the subjects and complements their words with insightful statements.

5. Beyond the MBA Hype A Guide to Understanding and Surviving B-Schools by Sameer Kamat: Sameer Kamat’s book tries to provide direction on how to get into a B-School and understand how it functions. He lists down the essentials needed to impress the admission committee: What is it that they want? They do not want someone who knows business like the back of his hand, but the basics are needed.

6. Outliers by Malcolm Gladwell: This book was gifted to me by my colleagues on my last day of working with Hewitt Associates and sorry to say it, but I hated it then. I worked in Analytics and hated reading about anything remotely related to analytics outside my workplace. Then one evening when I did not have anything else to read at home, I picked this book up and surprisingly I couldn’t put it down. Malcolm Gladwell excels at pinpointing a social phenomenon, be it cultural epidemics (The Tipping Point) or snap judgments (Blink); putting forth his thesis; and illustrating his proof through a series of short, engaging, self-encapsulated histories. In Outliers, he examines the phenomenon of high achievement, fantastic stories of success often attributed to the tenacity, hard work, and innate individual talent. The author doesn’t discount the necessity of ability, and he points to hard work as a crucial factor for success in any endeavor. But he finds in these success stories that factors such as timing, circumstance and cultural heritage play an often overlooked yet critical role. Outliers is Malcolm Gladwell’s ode to these unsung heroes.

7. Straight from the Gut by Jack Welch: Jack Welch does not need an introduction. Former Chairman and CEO of General Electric, Jack Welch embodies what many believe are the ultimate skills of the courageous corporate leader: guts, know-how and a track record that includes keeping a top company extremely profitable for 20 years. This book is basically an autobiography of Jack Welch’s GE years and does not dwell on deep management theory. It does a great job of showing the management task as an art and discipline that can be learnt, improved and mastered rather than as personal charisma or other common stereotypes of leadership.

Read these books in any order as you like, but try to read them all. Books like these leave a lasting impression on all the readers and help them navigate through the world of MBA. It is assured that they will make a positive impact on your life, both personally and professionally.

Happy reading!

Contributed by Shilpa Verma Kansal ( Class of 2006 – 2008, IBS GURGAON )