One click and lo and behold, it is there. Staring right back at you from that
torrid electric white.
Memo: Another Meeting
Groan. Right?
What a deceptively complex concept – The Meeting!
Affectionately known amongst its battered as ‘the death of a thousand cuts’.
So dreaded. So despised.
It’s no secret in professional spheres that the meeting suffers from an ugly dictatorial image. Often, it is regarded as an excuse to rag on subordinates to instill fear or respect.
Notwithstanding the obvious unpopularity, the meeting is an imperative tool for any group, professional or educational, that plans to strategize. In spite of the meeting being a frequent integral device of any hopeful organization, why is it that white-collared people find a well-run meeting so rare an occurrence?
An effectively managed meeting is said to have structure and order. The meeting is successful if the meeting’s objective is achieved, it gets wrapped up in the minimum amount of time, and leaves the participants convinced as to the sensibility of the whole process.
The one thing a good meeting and a bad meeting share is the suspense. A meeting
keeps you speculating which it will end up being.
Don Jacobson recorded Six Golden rules of Meeting Management.
You can adopt these guidelines to ensure more productive and less frustrating meeting-related encounters. A precondition is mentioned that all participants must be vested in the outcome of the meeting.

• Run your meetings as you would have others run the meetings that you
  attend
  You prefer everyone else to maintain an air of professionalism. Same as everyone else expects it of you. Being considerate of others’ time and acknowledging their opinions is crucial to the plot.
• Be prepared and ensure that all the participants can be as well
  Pre-communication must not be taken lightly. Sometimes the meeting organizer is not well familiarized with their responsibility of informing what needs to be informed.
  All attendees must be given ample access to the agenda; at least a day before, so
  that any advance reading or preparation can be aptly dealt with.
  Before the meeting begins, the meeting organizer should debrief to make sure the attendees know why they are there and what it is they hope to achieve.
  The participants must take on the responsibility of reviewing the agenda.
  If no agenda exists, there simply exists no need for a meeting.
• Stick to a schedule
  As a thumb rule, the meeting must start and end at predefined times.
  The all too restless feeling associated with waiting for a meeting to begin is only paralleled by the emotion of waiting for it to finish. When trapped in a ‘neverending meeting’, who hasn’t mentally itched to add fresh cartridges to their imaginary pistols?
  Each individual present is excruciatingly aware of every passing second that the
  wall-clock sluggishly ticks off. An attempt should be made to cut down on polite chitchat and avoid rambling. Brevity requires discipline. Both Punctuality and Discipline stem from the respect one has for a task at hand.
  In the off-chance that the meeting review finishes before time allotted, it can be
  dismissed early. This provides the participants with extra time to tackle the
  elected tasks.
• Stay on topic
  Each participant should focus to guide the discussion while maintaining
  relevance to the substantive agenda items.
  Please note that though we are asked to refrain from storytelling to prevent the derailing of the discussion, not all storytelling can be discounted as a
  mentoring tool. When the creative art is applied to meeting management, the story does not take ‘a life of its own’ but instead depicts the deliberated topic in a new light and recommends action plainly.
• Don’t hold unnecessary meetings
  A meeting should not be held just because you have an empty hour to kill.
  Careful assessment must be carried out to ensure a need actually exists. Also, the frequency of routine meetings should be mutually decided.
  The purpose can be anything from a profit-loss accounting to a crossdepartment co-op project. Staff meetings, the most common of meetings, prove valuable for providing accountability, building camaraderie and communication.
  As to, which meeting should be held when?
  The answer lies within the question. Time is a resource that gives best bounty
  when composed.
• Wrap up meetings with a clear statement of the next steps and who is to
  take them
  Whatever the outcome of the meeting, it needs to be documented clearly for those present. No doubts should be left about what needs to be done next and who is going to do what.
  It requires discipline and preparation to properly implement these recommendations and it is hardly ever easy. But these rules make a sea of a difference between a productive meeting and an unproductive meeting.
  Whether the meeting sinks or swims depends largely on how defined the destination is, how coordinated the crew is, and how well the hull wrestles hurdles.
  Like any ship, what any meeting really needs is a good captain. Meeting leadership must be steady, strong and fair. Imagine how beneficial it would be for a career once a reputation for running successful meetings is accomplished!
  Here is what the experts recommend.
  The key components of a meeting are
  Purpose,
  Agenda,
  Timeframe
  These three are used to perform the Meeting Management PAT Test.
  Purpose = decision/ routine status reports / generation of ideas/ communication/ plans
  The participants should be in consensus as to what a good outcome would be.
  The purpose of the meeting ought not be defined in more than a line or two. The memo itself should state the purpose. Only when everyone is aware of it, will they be more likely to offer viable solutions.
  Moreover, the knowledge beforehand will invoke involvement and interest.
  A little trick to help you determine what your meeting objective should be is to
  complete the following sentence,
  “At the close of the meeting, the group has to…”
  For example, the objective can be
  “At the close of the meeting, the group has to… plan the marketing strategy for the new launch campaign.” Or “At the close of the meeting, the group has to… review the company’s new policy for handling returns.”
  An Agenda lists the items that are going to be inspected during the meeting.
  The agenda sets the tempo of a meeting. It should not exceed 6-8 items ideally.
  Points to consider while designing the agenda are
  • Date, Time and Venue
  • Invested Participants
  • Priorities of Discussion
  • Sequence of Discussion
  • Item-wise Time Duration
  • Desired Results of Meeting
  The agenda-writer is required to streamline the meeting objective with everything that happens in the meeting. The goal should be to further that objective with each itemized discussion. If it is redundant, it’s best left unentertained.
  Before the meeting, the written agenda is shared with all concerned to inform
  and get useful feedback.
  There can be no settlement of a great cause without discussion, and people will not discuss a cause until their attention is drawn to it. – William Jennings Bryan
  Timeframe is very important to adhere to in any meeting, especially the start and the end. There is little point in waiting for (or even recapping for) stragglers as it wastes the collective time of the group.
  It is advisable to set duration for each item in the agenda which doesn’t exceed the total allotted time.
  Whatever you do, don’t forget your MOM!
  MOM= Minutes Of the Meeting
  The minutes offer a re-cap of the meeting and a reminder to undertake discussed action.
  The note-taker who takes down the minutes of a meeting may or may not be the meeting organizer. The agenda is used by the note-taker as a guideline for recording purposes.
  Other information that must be transcribed comprises of who attended, what was discussed, which the action items are, the respective responsibilities and the way forward.
  Post-Meeting, the MOM should be circulated to everyone connected to the agenda As Soon As Possible (ASAP), usually within 24 hours, via a reliable e-mail network.
  A few Tips have been jotted down to provide you with leverage to control events and allow you to make the most of your meetings:
  • Schedule meetings on reasonably convenient times to maintain morale with the exception for emergencies.
  • Note down the names of attendees. Discuss the agenda in detail at the beginning of the meeting and summarize it, clearly stating responsibility of the individual tasks.
  • Although a meeting is a formal setting, maintaining a healthy dose of humor and perspective will generate a relaxed yet more fruitful environment.
  • Hear out all the viewpoints fairly regardless of your personal opinions.
  • Nod approvingly to encourage more input from attendees and set a comfortable tone.
  • Present the chance to speak at least once to everyone and express your own views at the appropriate time.
  • If someone is dominating the conversation, direct a question to or ask the opinion of someone who has either been holding back or been trying in vain to voice their opinion.
  • Prevent the discussion from disintegrating or straying off the topic by pre-assigning the topic-keeping responsibility to a volunteer.
  • Thomas J. Shepstone in his illuminating article ‘Meeting Management – Someone’s Got to Do it’ recommends a clock be put somewhere where you can see it easily but have to turn your head a little to do so. This is done so that everyone there remains aware of the passing time at a subconscious level.
  • At the off chance that you are inattentive and suddenly come to realize that you are falling short of time, you can consider hurrying the discussion. However, if the item is issue-ridden or pertaining to only a few attending, it is prudent to defer the discussion until another time and assign it for a detailed discussion under the supervision of a subcommittee.
  • Get confirmation from the participants on the Debrief (who is assigned to do what, and by when).
  • Send minutes of the meeting and make it a point to follow-up for better co-ordination. These pointers will prove valuable when applied suitably. If the intention is
  victory, any meeting can be creatively managed to reach a preferred outcome. For this reason, Innovation is habitually an analogous endeavor of a Meeting Manager used to fully realize the potential efficacy of Meeting Management.
  Dear reader, you now own the knowledge. You know the makings of a wellrun meeting. You possess the means to manage your meetings better.
  Create a definite plan for carrying out your desire and begin at once, whether
  you’re ready or not, to put this plan into action. – Napolean Hill
  May all your meetings see triumph!

Contributed by Ankita Verma ( Class of 2009, IBS HYDERABAD )

‘Congratulations! You are hired.’ A sentence which almost every MBA student, after the successful completion of his/her two years course, would like to hear from the recruiters.  But wait! Is the company offering you a profile which you always wanted? Is the profile matching your MBA subjects which you opted?

There are cases in which one gets a profile with no parallel relation with that person’s specialization. Rationale behind the same could be a good performance in the interview with the bits and bobs of subjects learned before the specialization year or perhaps the interviewer is looking for a more practical and an all-rounder person than a mere ‘I-only-know-about-my-specialization’ type. Now, In case you have ended up in a job like that then time to look at the half fill portion of the glass.

Firstly, you have to fathom out that a corporate is not a place where you throw up whatever you have learned during your MBA. It is a practical world where you simply cannot execute any bookish strategy without giving heads and tails of the same to your superiors. On this notion, your MBA fundasare already kept aside from the very beginning and you are welcomed to see the market from an eagle-eye view.

But then this notion leads to a ‘Why MBA?’ paradox.  That is to make you aware of the technical aspects of the stuffs going on in an organization in a much generalized manner.

Since you were not adhered to any one field from the very start, it also gives you a flexibility to work in other departments of the firm too provided the other work does not breach the boundary of tasks, an MBA can perform successfully. For instance, besides having a finance background you are appointed as an Inventory manager at a Hotel cum Restaurant. That at no point means that you can gear up yourself to work in kitchen as a chef. Hence, this ‘job stream MBA stream’ mismatch can earn you a tour of every department of an organization.

Talking about other departments, the spotlight now shifts on Inter Departmental Promotions. Suppose a vacancy has been just declared in a department where you had lend a hand previously. Now an organization also cut corners wherever possible. Rather than going for a full-fledged recruitment campaign for that single vacancy it might promote you for the fact that you had contributed in that department before.

Another primacy edge of ‘Profile& Specialization’ mismatch comes to aid when you are bitten by the Entrepreneurship bug. You are now all set to open a venture of your own after taking few years of corporate experience so not only it opens the doors of most of the industries for you to establish a firm but also it blesses you with a wisdom of managing the various departments of your firm with an equal understanding about the affairs arising out of them.

Not only at the time of setting a new venture but at the time of job change too it somewhat has the same role to play.  If you have a practical experience of other specialization and a better opportunity has arisen in some other firm, it might give you an edge over the others.

Try to look at the same scenario from the eyes of other players of the industry. They are lacking in a particular department where you have tried your hands before. Though, presently, you are working on a profile which you have mastered in at the time of MBA but you would be nodding your head for a better opportunity if that player approaches you with a proposal to work with him on another profile.

However, everything comes with a price tag and this ‘mismatch extravaganza’ too has some cons attached to it.

As mentioned above that this mismatch can help in job change. The same could be a curse when it comes to changing your job. Many corporate houses invite applications to fill a vacancy and mostly they prefer the experience holder to take the responsibilities and authorities of that vacant post. Even though the profile matches your core specialization but since you were working on different profile, the years of work experience you have would not come for your rescue. And perhaps you end up not getting that job.

Another major disadvantage of such a mismatch is the lack of interest from the work. You have entered an organization on the bits and pieces of a discipline. Now when your actual work demands for more technical details which you could have obtained only if you had taken that subject as your specialization and not otherwise. In such a case you lose interest in your work, the work is gets piled up every single day and all you feel is helplessness because you are not aware of the tools and techniques require to handle such work.One things leads to another. The same may get reflected at your appraisal time or when you sit for reviews with your superiors.

Though this one might not exactly fall under the category of cons but would rather depend from person to person’s ability of recalling the concepts. With the passage of time you might face challenges in recalling the technical aspects and also the concepts of the specialization you have mastered at. The  different stream involve you so much in it that you might not even stay updated with the latest happenings in your specialization field. This only becomes a hurdle at the time of Job change when you are appearing for a test or an interview. It can be overcome too by mere brushing up your concepts and looking for sources where you could get the updated information from.

Towards the end, look at the brighter side of this ‘Mismatch Mess’. You are gaining more and technically you are not at all losing anything. It can be clearly seen that the Pros have clearly outnumbered the cons. However, there is no sure shot yes or no for the query that whether or not one should go for such a job which has a clash with the specialization. Though it is clearly a subjective issue but this is something which you cannot afford to overlook.

Contributed by Hasan Ali Gumani ( Class of 2012-2014, IBS HYDERABAD )

The popularity of MBA has always been there not just because it lands you up with a white-collar job but because of the growing success stories of various persons who now hold key post in big companies.  Some have seen their ideas with results coming out like flying colors while some still facing the initial hurdles. To call a spade a spade, there has been a debate to the contention about a successful MBA. On one side of the road there are individuals who are still setting the milestone while on the other side some have already leap-frogged to a bandwagon of success. Interestingly, both sides have the same objective – “Success”.

Let us see what are the most realistic and non-hyped takeaways from MBA:

A roadmap to the Corporate World: MBA walks you to the very corners of the Corporate World. It introduces you to the hierarchical structure and functional relationships. It throws light on the ethical aspect of the business and helps imbibe the principles of business. It definitely tells you what is what without which you would have to bang your head against the walls to understand them. It provides you with all the basic jargons and concepts of a corporate world which otherwise would be nothing but a maze at the workplace. Without which it would really take time to set the right foot ahead. Having known various aspects of the organization provides a higher degree of coherence and promotes the level of indulgence towards the job.

Take your career to a new height:MBA scales the wall of success and surfs up to a new height in one’s career. Whether it’s a fresher’s job or an experienced job, MBA helps to scale new height. An organization would always prefer a person who is better qualified and skilled to have a prominent and challenging role than who is not. They would prefer to associate themselves with a qualified person and an MBA is not a left out ofthe wagon. The probability of promotion for a person with an MBA degree from a prestigious college is definitely higher than the one who is yet to have an equivalent qualification.  In short, the potential of growth in career manifolds by having this professional and recognized degree.

Leadership Skills: MBA is not a cake walk where you just enroll and after 18-24 months you see your degree in your hand. In fact there is more than what meets the eyes – it is indeed a rigorous scheduled course overlapping with empirical case-studies, project work and brain-storming session.  The course is backed by both theoretical and practical knowledge. Having tested both your perseverance and stress, it dwells the leadership qualities. It instills in you the quality of self-starter with an air of confidence.  MBA definitely helps you groom in a way where you could be the one leading the team.  It pushes for a new age managers where you know what is to be done and how it is to be done.

A Strategic Thinker: If you are thinking just like what your peers and colleagues and bosses are thinking then what is the value addition do you think you are making? At the end, you will queue up exactly the way others have been queuing for years. To bring a spin to your thinking, MBA plays a pivotal role. MBA puts you through multiple contrasting environments. This helps youevolve your thought process in an innovative ways which is instrumental for out-of-the-box thinking.  Solving a problem would be more driven by rationale thoughts than mere emotional dilemma. Tackling an issue would no more seem to be burden and threats would look like an opportunity.

Excellent networking: The course kicks off with a network of classmates with whom the interaction is extensive, who provides just not a nurturing environment but also act as a string binding others together. The social network so created provides enormous opportunity to explore resources. Like minded share not only business ideas but also lead to a new unproven path of innovation.  The active approach of lecturers and mentors paves a way towards proactive thinking. They are the one who become a pioneer force of networking during placements and job change. These are the same people who will help not just during the pre-MBA times but also post-MBA times. The alumni network act as a pyramid providing referrals and job opening. Their career counseling and years of experience help make crucial decision as to what Job to take and what profile to choose. In short, MBA at the end gives you a new family.

Multi-domain Knowledge: MBA sure comes with specialization but it definitely is structured in such a way that the aspiring candidate is made aware of various domains and specialization. The initial semesters and curriculum is focused not on basic ideas of the domain but indeed a more in-depth knowledge. This leverages in dealing with ad-hoc problems and queries which comes up at the workplace. Further, the specialization act as a catalyst in strengthening the knowledge and related skill-set. Multi-domain knowledge has been a crucial transformational force not only in taking up a new job responsibilities but also providing deliverables.

Team Culture: MBA, unlike many other courses, is collaborative and team based learning which is extremely important at the workplace where virtually there are so many teams and departments to interact. As the organization grows bigger, the complexity of teams and departments too get broader and to stay afloat one has to be resilient. As the position grows bigger, so does the job responsibility and the accountability with more team leaders and team to take care. Managing these teams becomes the inherent part of the Job. MBA thus provides a greater scope to learn those skill sets through various approaches like case discussion, focused group, project groups and brainstorming sessions. With these methodologies managing multiple teams becomes much more easy and sustainable.

These takeaways show MBA is not a course to be substituted. Its relevance is sometimes truly felt when we are at the workplace. Much felt is the aspect that it spurs the mind to various ideas which otherwise would have mostly lost in oblivion.

Contributed by Mitesh Agarwal  ( Class of 2009-11, IBS HYDERABAD )

Honestly stating, third semester is seemingly an exciting time for all of us without an exception. The first year followed by an internship gets over and we only hear whispers, giggles, animated discussions in every corner of the campus. The already lively campus starts bustling with extra load of energy and excitement. The tiny soothing cabins of our mentors are somewhat forgotten and large groups of suit-clad aspirants are seen huddled all around placement cell of the B-School. The environment clearly suggests- Placement season is on. Each one of us tries to wear the most winsome smile, highly confident expressions, perfectly practiced statements for all probable questions under the sun and truly fitted suits which gives true impression of Real Managers.

What is most interesting is the set of endless expectations from the jobs we will finally pick making company chosen as highly honoured. I would like to mention a small yet highly interesting instance which actually provides an insight that what all we may seek to extract from our job. My roommate, Vikas Doshi (surname changed) was deep in slumbers when I entered our small room one evening. I thought of waking him up as I was anxious to know that how did his interview go but his snoring indicated that I should better not bother him as he had not slept for last fortnight. I changed my clothes and turned on my laptop with a flickering hope that some company might find my candidature worthy enough to ask me to be on board and grow leaps and bounds.

I heard some vague sounds but was so engrossed that I did not find it suitable to bother myself over such trivial issue. I remained glued to the screen of the laptop when I heard voice of Vikas. He is awake, great- I thought and turned to my right where his bed was located. He was speaking alright but he was nowhere closer to be awake. Sir, my name is Vikas Doshi, a bright management graduate who seeks to keep his professional objectives much ahead of personal goals. I wanted to intervene but it seemed none can stop him that day. Well, my expectations are that I need a swanky and open workplace, an efficient female assistant with pleasing personality, a comfortable office accommodation besides my salary and perks and yes a company four-wheeler will be simply motivational. His face was vibrant and I had never ever experienced such energy in his voice as it was that day. Soon, he went off to sleep and his interview was replaced with loud snores.
Well, it is not a joke but a reality and that is what we all think, overtly or covertly. I had the same thinking with a few more added expectations including foreign business trips and fully sponsored holidays in some foreign destination every year. The moment we step into the campus of a B-school, we start assuming ourselves as Managers, our thought process gets shaped accordingly and so is our attitude. We are actually groomed to think and act like Real Managers with expectations as high as sky. All thanks to our family members, relatives, peers and the overall environment in the premises of the college. The mentors never ever encourage us to dream so big but maintain a silence and we build our castles adding more and more floors with every passing month.

However, the reality is not so rosy and perfect. I often hear people telling that IIMs graduates actually grab what I mentioned above. They may but it never comes instantly and not to everyone. They sacrifice a great and precious deal to gain what many of us vie for. However, not rambling from our point of discussion further, I would like to continue with our lives three years later. I went to meet Vikas who had joined Fivestyle Brand (name of the brand is changed) as Manager and invited me for lunch. I had got into the field of education and was doing fine but nowhere closer to the dreams as I had stopped chasing them and shaken hands with reality. His outlet was in a swanky shopping mall and the outlet itself was truly remarkable. I saw Vikas standing at the counter of the outlet and was busy talking to an irate customer. The language of the customer could not be termed as civilized and soft. Anyways, he resolved the issue and walked up to me. We shook hands firmly but there was something missing in both of us. Come with me bro- he said. We went to a small room (read Store Room) of the outlet which was a small enclosed corner within the outlet and was storage area for apparels which Fivestyle sells.

We exchanged pleasantries in somewhat formal manner and started talking about other batch mates and some general issues. During the conversation, his phone beeped and he read the message. His expressions changed and he called his executives inside the store room. You*@#$%%##@ (abuses) are required to sell apparels worth INR 2 lacs today else …… he stopped and looked at me. We both had understood the reality which is far away from the beautiful dreams which we knit. Today both of us and our other batch mates are doing well who have taken steps to deal with reality.
I have a few quick suggestions for all the readers, especially the would-be managers, which will help them be prepared to face the toughest situations waiting most eagerly in the outside world.

• Set realistic expectations from yourself and the job
• Look for a suitable job profile instead of salary package. IIT Kanpur students have set incredible example this year by turning down 1 crore package.
• Be mentally prepared for worst and real-life situations so that the situations when faced are absorbed easily without many shocks.
• The preparation for real life instances will avert the possibility of you turning into monsters which many fail to prevent.
• Drudgery and tireless efforts get you desired place and pleasures but it does take time and we all struggle.

So, my tiny suggestion from limited experience is that have the energy, freshness and enthusiasm of would-be manager but have a tab on reality as Real Manager.

Contributed by  Vineet Mani (Class of 2010,IBS GURGAON )

India being a developing country has lots of scope and demand at the same time for ambitious students. Our education system has allowed us many wonderful career options to choose from, but to our dismay MBA has been highly hyped for fancy corporate lifestyle and overloading salaries.

With our country spreading its strong presence internationally, there has been a sudden demand for well qualified MBAs to look after established as well as start up businesses and like guys, girls too are not untouched by the shine of MBA.

MBA definitely is a life changing career option to choose. But are we prepared for the challenges it brings to our professional as well as personal life? MBA is high in demand post graduate program which requires deep sense of focus and determination to be able to fulfil the responsibilities given at workplace. There are lots of myths about MBA which needs to be busted and there are few points which girls should know before choosing MBA as a career path.  Let’s have a look at some must knows to help you choose MBA as a career path.

• If at all, MBA is a Nutty Cakewalk

MBA is a professional course as we all know but while taking the course it is highly important for one to follow the approach of professionalism too. As mentioned earlier, MBA is not a cakewalk. One needs to focus and learn to multitask. These two years will prepare you for the challenges coming with your job. Staying disciplined is the key but this is not just it.

First few days may seem very enjoying but with time your schedule will definitely start becoming tighter. Case studies, presentations, weekly tests, festivals, campus placements for internship as well as final placements will go side by side. There is no escape but to face it. You may go through a lot of stress but always remember, the hard work you will put at that time to get good marks or better placements will not only  make you build a better career but also these qualities will stay with you for rest of your life to help you with your professional life.

• The Corporate Drama

MBA is highly hyped for the lifestyle it provides once a student gets into corporate world for job. But it is also a fact that corporate is full of drama to some extent. Many a times we get to hear about the party culture which is highly famous in corporate. Before choosing MBA as a career path you should also know that you will be expected to take full responsibilities once you get into a job after finishing your studies. Deadline chasing, long working hours, last minute work allotment, targets etc will be part of your daily routine. Off course once you get through all these barriers, corporate will felicitate you with great salary hikes, parties, appraisals and promotions. But do not forget if MBA is your choice, you should know about the hardships you will have to go through to get what you deserve.

• Your area of Interest – Will I be a Good HR or Better Marketer?

Before getting into a B school it is better to know the major or the specialization you would like to take up in final year. There may be a lot of confusion in your mind regarding what subjects you would like to take up but it is always better to know beforehand. Once you know what specialization you will take, you can start researching over the subjects. There are many sub specialization to one specific specialization. For example investment banking is one part of Finance. You can read books, consult with seniors and teachers. This will help you take up job of your choice.

Although there is no scientific way to decide what would suite you better but still we can eliminate or choose some choices prior. In my earlier article “MBA Finance v/s MBA HR: Which is Better for Girls”, I have tried to provide some points which can be beneficial for you to make the right choice.

• Does the Incurred Cost Worth it?

Before choosing MBA as a career path you should know that MBA is not an inexpensive course. B school these days have fee structures which may or may not lie in your budget limits. You may have to apply for loan to get into a B school. Even if your studies are to be funded by your parents it is highly important for you to know that the cost you are incurring as fees is worth it or not.

Speaking of numbers, on an average the fee of any B school is between 5-10 lakhs and this is not a small amount. Before choosing any B school, one must do some prior calculations. Does the college worth paying the fee? Are the faculties well educated and competent enough? Are the placements good enough to get you the job you want and ultimately what is the ROI? So, before choosing MBA as a career path, get full idea of what you are going to get after spending your precious 2 years of life and money.

• Books won’t teach you everything

This is one myth buster. Books will not teach you everything. MBA is more about learning from experience than the books. Definitely class room studies will help you understand matters better but those will not be enough.

Before enrolling for MBA you should know that cramming will not help you in getting good grades or for that matter a better placement. As mentioned earlier MBA is highly professional course. If you want to get the job of your dreams you will have to work hard each and every day. Apart from the required studies you should be able to learn from each and every event of your life you will spend in college. There will be many events, festivals, group studies etc. You will need to make sure that you learn from your experiences and keep your participation highest in everything which is happening around you. Once you get into your dream job these experiences will help you not only in learning faster but also taking matured decisions at workplace.

Key Takeaway – MBA is surely a life defining course but one must assess the preparedness of self before going for it. A wrong decision can destroy your future. It is better to analyse well in advance to create a better life for tomorrow.

Contributed by Leena Sonparate ( Class of 2013, IBS MUMBAI )

Linkedin Profile of Leena Sonparate : http://in.linkedin.com/pub/leena-sonparate/4b/715/aa7

The weather was somewhat cold and damp and the sips of hot tea from roadside dhaba (I do not remember the name of the dhaba now) outside the college seemed nothing less than panacea. The fourth semester had started and so were the winters. I saw a small group of our college students approaching the dhaba making their way out of smog. It was one of the groups who had taken Finance related subjects as electives. A few waved at me and all of them took plastic chairs scattered all across the dhaba and got into a serious yet animated discussion. Suddenly, one of them looked at me and blurted out- You marketing guys have a splendid life with no stress and strain. You guys enjoy the true honeymoon period which B-school offers to students who choose marketing subjects as electives- he continued and winked somewhat sarcastically. Isn’t many students, especially those who choose finance as elective strongly feel the same about marketing and those who choose it as elective.
However, I beg to differ with those who carry this perception. Undoubtedly, I call it as a period when we feel more carefree while thinking but have several intricacies to understand and learn. Every elective in the field of management has its own advantages, scope, horizon and limitations. The first year of the B-school familiarizes all with subjects from all the fields of management and make majority of us prepared regarding which path we shall ideally choose. Our batch mates choose electives as per their inclination, interest and keenness and many form combinations what we call as Major and Minor (Major as Finance, Marketing as Minor and vice versa and many such combinations) but the underlying fact remains the same for all- burn the midnight oil lamp and ensure and secure a promising career.
Marketing as an elective brings true value to those who opt for it and I am sharing my viewpoints which are highly personal and individualistic with a touch of experience shared by many of my peers and colleagues.

1. You learn to Analyze- Markets are growing and new markets are getting developed. What differs is the dynamics of the region, driving forces in the particular market, consumer behavior and many such related aspects. The analysis of such markets through Case Studies, discussions in galore, presentations indicating probable solutions certainly develop a strong sense to analyze.
2. You learn to Strategize sans rigidity- One suit, fits all never works in dynamic markets of today. Standardized practices have fallen flat and only customized solutions work successfully. When we are able to analyze a problem in a particular region, product, service and consumers, we tend to form specific strategies to deal with the problem(s) at hand. I still remember late night discussions often leading to arguments and bickering with fellow mates, studying theories, jotting them down and presenting it to mentors has helped a great deal and now I can (can only mention about myself) craft effective strategies, however with much space for error and improvement. The discussions with mentors often opened avenues to new perspectives of looking at and dealing with the problems. The additional and biggest advantage was that it reduced the amount of rigidity in thinking and approach to zilch. Today, I can confidently state that what I learned during my B-school days has provided me what I can term as a strong sense of direction depending upon the situation(s) with adequate flexibility.
3. Explore, Experiment and Develop- What I may define as beauty of marketing as elective is that it provides enough food for thought, makes you exercise your mind round the clock, imbibes attributes to explore, experiment and always think beyond imagination. Marketing truly makes you creative, daring, adventurous, risk taker in a calculated manner and a true thinker. Developing markets, penetrating into new markets is no child’s play and that’s what marketing as an elective teaches. It undoubtedly equips you with limited tools to tackle it and your experience as a marketer once you join the professional world arms you to the teeth.
4. You become more expressive and persuasive- Marketing is termed as a Cost Centre which it actually is. The huge investments made in marketing initiatives help to spread awareness, establish the name and strengthen the position, be it a product or service. But the route to Brand Marketing Divisions of big MNCs sails through the narrow alleys of sales. Marketing sessions in B-schools make you to be more expressive, persuasive and logical. Imagine presenting a case study about launch of a new product in a class of 35-40 students, mind of each one oozing out with new ideas, approaches and perspectives. Difference of opinions in such sessions is quite mundane and everyone faces wrath of their classmates who are otherwise amiable but turn into ferocious rivals during that time.
5. Wide Smile like endless River Nile- None in the world of management face consumers/customers directly, especially aggrieved, dissatisfied and irate ones
   and what field of marketing, even in theory teaches us is keep your cool and calm, be sangfroid and keep your mind open to search for solutions no matter how worse the situation gets. An aspirant can become a successful and effective marketer only when s/he knows how to keep a broad smile on face and keep the head cool under all circumstances. This is not all. Marketing is never done in isolation as statistics of various sorts are involved while allocating resources and determining the effectiveness of set of strategies devised and implemented and the team requires working in tandem with other divisions and with each other as Hobson’s choice.
   So, a relaxed demeanor and carefree attitude shall never be confused with what is called as relaxation time for the students who choose Marketing as a career path. The subjects, training and grooming prepare majority of us to face the real world in a calm fashion.

Well, I do not think a honeymoon will bring so much on platter to chew simply in ten months. In the end, I would like to state that Marketing is not simply confined to leaves of Philip Kotler tome but like all existing electives, transforms those who choose it and work hard towards learning its nuts and bolts.

Contributed by  Vineet Mani (Class of 2010,IBS GURGAON )

The business news daily’s are filled with headlines of how Startups and young entrepreneurs running it are making a fortune from the business they had set only a few years ago. A lot of the newspapers do sensationalize these stories and build a glorified case around it however in India we are still living in a business environment where about 600 new ventures emerge every year out of which half of them die in the first year while the 30% that go past the crucial 12-18 months mark also eventually end up in the grave within three years (a study by Microsoft Accelerator). While graduates / postgraduates fresh out of college are looking for a placement or someone in the working force is looking for a switch may explore working for a startup firm; it may come in handy to watch out for the below mentioned areas before one takes a plunge in the unknown world of risk and opportunities.

It is an unknown territory you are venturing in
Few of us have the tendency to look for safety net in our jobs, imagining career in a single place for a decade or more and there is nothing wrong with having such expectations. Unfortunately in a startup venture there is no such safety net, at least in the beginning. Thus the element of risk of the company not being there in the next couple of years may be a tough fact, one may have to deal with.

Be prepared to get your hands dirty
As a startup ventures which is started by someone’s hard earned money it may not be having the initial booster shot of dollars by a venture capitalist and in all likelihood the incumbent will have to act as an all-rounder and perform several functions at one point in time. There will be many occasions that you may be the divisional head of an entire function and the next moment you will have to double up as the admin assistant or deal with daily chores of the office. There is nothing defined as petty work is the moral of the ‘startup story’.

Be passionate about the work you are choosing
The above mentioned is true for all scenarios involved with a working professional, but my strong recommendation would be to join the startup venture only if the work is something you will enjoy doing for a long time. There will be roadblocks, uncertainty and stress and it will be easy to let go of it if you are really not passionate about the work you do. Hence it is imperative to be passionate about the field you are venturing into as you are joining a new startup.

Political Quotient is necessary here too
We have all heard about Intelligence and Emotional quotient, however with the evolving dynamics of the corporate world Political Quotient is making its presence felt too. So to demystify the aforementioned, we all witness some amount of politics (if I may use that word) in our workplaces and for some time it was believed that smaller workplaces and startups ventures are devoid of such conditions, however to the contrary I believe that in any setup which has more than couple of people there will be a healthy competition and slice inch (or more) of politics. To deal with it one must be well
equipped to handle stress and challenging situation smartly at work. Political quotient nowhere states being cunning or harmful, it’s just an approach towards any critical situation with open eyes and ears to protect the company’s and the individual’s interests.

Investors behind the firm
While you are thinking of taking a plunge into a new startup it is necessary to do a background check on the people you are going to work with. As your background will be evaluated too at some stage there is no harm in doing your homework and looking up there LinkedIn profiles and checking through common acquaintances about their professional background. You can never be thorough with your check but can at least ensure that the Directors on board do not have criminal history and the company is funded well enough to pay employees salaries.

Salary
A well funded startup venture can be a dream to work in with the amount of flexibility at ones disposal, but usually the startups are suppose to sustain themselves by nature of selling the products or services on offer. As a result it is possible that your paycheck might be dependent on the several factors. Hence the salary in a lot of startups usually gets credited on different dates at the beginning of the month, but you will be really lucky to get it on the first working day of the month like in all large MNC firms. (Tip: Schedule all your EMI’s towards the third week of the month to be on the safer side)
Whatever you have read thus far is full of skepticism, however the warning shots is all but to make one prepared for the tough journey usually encountered in a new startup. The other side to a startup as mentioned below is one which usually gets most of us to take the plunge and it will be a tad unfair to miss out on those aspects too.

Unprecedented Professional growth
If you pick up case study of any of the successful E-commerce startups in India (likes of Flipkart, Snapdeal etc.) you would have surely noticed the age of the Directors and the millions / billions they have already parked in the bank. This could be a reality for one of us as well, and this is something which one may not experience in a well established firms. So the success of the new startup venture you have joined may help you grow as a professional and in the process make a fortune out of it too.

You define the culture
We all have been critics of large MNC’s and the culture they have! Well a startup venture gives you an opportunity to walk the talk and build a culture which promotes merit and ensures harmony amongst organization and personal goals.

Chart your own path to glory
Usually for all the startups they have a macro plan in place, in terms of direction they want to head. Thereafter it is up to individuals working in these companies to be self motivated and go all out and
achieve micro goals while keeping the bigger picture in mind. A startup under normal circumstances gives one immense freedom in choosing the road to glory. So if you like to implement your methods, strategies and style at workplace a startup with a vision and mission is the best place to work in.

Makes you think like an entrepreneur
As a member of a startup venture you will be in the firing line more often than not, and you may also be handling the entire running of a business unit. This will call for a lot of action with minimum turnaround time and as a result will enhance ones decision making ability. Not all of your decisions will be correct but by learning from your mistakes it will only broaden your horizon to take on bigger challenges ahead.
All in all a startup venture is a place where one may achieve unprecedented success or be a complete failure. In the end it will boil down to your skill set, the industry you are a part of and market acceptance of the product or services you are dealing in, so if you succeed enjoy the professional growth & the accompanying moolah and if it doesn’t work move on to fight another battle.
Albeit always be watchful about the things to know before you join a startup!

Contributed by Gaurav Sharga (Class of 2010, IBS GURGAON)

Some of the most successful people in the world are MBA graduates and they have learnt the qualities to excel in their jobs or businesses while pursuing their MBA only. One of the most honorable graduate awards in the world is Masters of Business administration and a guy who has completed his MBA degree is all set for achieving corporate success and is filled with all the qualities needed to win in his professional career. All you need to do after completing MBA is to take the right decision of selecting your career and then take a go-ahead. Being an MBA graduate you acquire a number of professional skills so that you get plenty of options to start your career. Here we will discuss about the five best career options for you after MBA.

An analyst-

While doing an MBA degree, the biggest quality being developed in the student is the ability to analyze things and identifying and solving problems. This trait is required for the analysts working in a particular domain and they have to be detail-oriented and have to figure out why a business solution is not working now and what will be the future trend based on the current market trends.

As a market analyst you will have to review the targeted demographics and analyze the success of the previous and current advertisements on them. Based on this analysis, you create new advertisements for future.

A management analyst has to analyze the corporate structure and suggest ways to the departments on how they can cut costs and improve the profits based on his complete management analysis.

In the role of a financial analyst you will have to analyze the market trends and reviews different portfolios. You have to analyze the jump and fall of the stocks and on the basis of all the past knowledge predict the future trends in the financial market.

Investment Banker-

A good option after completing your MBA degree is to look forward for a career in investment banking. An investment banker plays an important role in advising firms about mergers, buyouts and takeovers. The main role of an investment banker is to provide advisory services to the companies in their decisions for long term investments. Besides providing M&A advisory, an investment banker also provides help in other areas like IPOs, strategic alliances, trading of securities and diversification of sales and assets.

The entry position for an MBA graduate in investment banking is as an “Associate”. In this role you will be a part of a team which will attend client meetings and those who will make the actual deal. Good analytical skills, spreadsheet knowledge and great dedication is required in this role. Later you can look forward to rise as a leader, project manager and higher positions. To develop a career in investment banking you need to have a great client rapport and a good understanding of macro-economic environment and political environment is required. The best companies to work as an investment banker are Barclays, Blackstone and Goldman Sachs.

Consultant-

A good quality of an MBA graduate is the ability to give analytical opinions on different subjects and for them, a consultant job is ideal. A business firm or a private entrepreneur goes to a consultant with the question “What do you think?”. This job is highly prestigious and even the CEO’s of renowned companies come to a management consultant and ask solutions related to different business problems.

Those who become gurus in consulting business are usually paid very well and can maintain a bright career in the field of consulting.

Entrepreneur-

A number of professionals decide to study MBA with a hope to never work under any boss for the rest of their lives. Statistics have shown that about one fourth of MBA graduates are entrepreneurs and have been doing their own business in the fields of Consulting, marketing, finance and many more. But for starting your enterprise you need start-up cash and a good database of the customers. For fulfillment of both these requirements you need to have an exposure to the industry you are targeting. That is why MBA graduates generally spend at least 5-10 years in the industry and then decide to go for entrepreneurship.

With my experience as an MBA graduate, I myself found that entrepreneurship is taught at every step in the professional MBA courses. The students learn all the skills required to become a successful entrepreneur and that is why it was named Masters of Business administration. The courses and curriculum are designed in such a way that the student learns all the aspects for running the business successfully. I found a lot of difference in myself when I entered into a job again after completing my MBA. The communication skills, presentation skills, writing skills, subject knowledge and management skills, all are improved when you complete an MBA successfully from a professional institution. After 6-7 years of working experience I started my own business in the IT domain and found that MBA skills translated at each and every step of my business.

ERP consultant-

One of the best career options after completing your MBA is working as an ERP consultant. Enterprise resource planning(ERP) is a business management software which is used basically for the storage, management and interpretation of the different enterprise activities like shipping, inventory, marketing, finance, production planning, sales and nearly every major functions of the enterprises. As an ERP consultant you will be responsible for understanding the various business processes of the clients and will understand and handle the various ERP packages like SAP and how they are implemented in the organization with the necessary customizations.

An ERP consultant earns an average salary of more than 8-10 lakhs per year in India and a very handsome salary oversees. The highest paying skills associated with the job of ERP consultant are Customer relationship management (CRM), Oracle-E-Business Suite HRM, PeopleSoft and SAP.

The career options discussed above are one of the best options to follow after you complete your MBA degree and the analysis is based on the basis of current job market trends, salary packages and the MBA skills required for a job. Here are some of the other things you can do after you complete your MBA degree-

• Contact your alumni network to learn about more career and business opportunities
• Apply for teaching jobs and use your MBA qualification to leverage your candidature.
• Explore new career opportunities within your organization to advance in your organization with the new MBA degree.
• Travel abroad which will give you a chance to learn about a new culture and creating a new set of skills with a number of more options in hand.
• Freelance your work- You can start freelancing and can work as a freelance consultant, mentor, coach and a freelance contractor. This will help you to earn extra income and will also expose you to other industries and new organizations.

Thus you can find a number of career options after completing your MBA. The only thing you need to do is the careful selection of the career option which best suits your skills and expertise and allow you to grow continuously in your career path.

Contributed by ASHISH SINGH PARIHAR ( Class of 2006 – 2008, IBS PUNE )

Truth Vs Hype Foreign Direct Investment into multi brand retail has been put on But in the brief window that it almost became a reality, a fierce debate broke out, with wildly opposing This is ironic, given that every claim made about its benefits or risks can be tested against the experience of almost ten years of Indian organized retail, which closely followed the western Will it create an agricultural back end chain? Will it bring down prices? Does it squeeze out small traders? Does it create employment? And do we even need foreign retail chains at all?
There are always many facts of any realistic situation, especially in the country where democracy is deemed above anything else, and where the right to freedom of speech and expression is used or misused, over and over again. Unlike the U.S., where only two major political alliances exist the Democratic and the Republicans, we in India have a host of fronts other than two major alliances the ruling party and the opposition, and all of them consistently scuffles over every single agenda and many times ignore the main issue and divert the whole argument.
Same is the case with introduction of Foreign Direct Investment (F.D.I) in the Indian retail
market. The government has decided to open up the Indian retail market for global players
through F.D.I. in multi-brand retail with a 51% threshold, i.e. they can have only 51% equity in the investment and 100% ceiling in single]brand retail. There are several versions of the
possible outcome of this scenario floating in the different spheres of the country. But the
different interpretations ought to be backed with rational reasons.

” The kirana store rules India thanks to three major advantages it offers ? location, time of
delivery and personalised credit “
Foreign direct investment into the Indian retail sector is controversial, with political overtones. Few countries have witnessed such a elife and deathf debate. The protagonists exaggerate the benefits by a wide margin and the antagonists articulately verbalise imaginary ghosts. Broadly, there are two different views with regard to the decision of the Indian government to allow F.D.I. in Indian retail market, one supporting it and the other opposed to it.

View 1) The first argument is put forward by the government itself, supporting its resolution. The government claims that 10 million jobs will be created in the retail sector in the next three years. It mandates a minimum investment of 100 million U.S. dollars, approximately 500 crores rupees, for the foreign companies, with at least half the capital to be invested in backend infrastructures, including cold chains, refrigeration, transportation, packing, sorting and storing.
Now, this is a fact that India is not much developed in terms of infrastructures. Hence, this step can be deemed most welcoming. Another very influential agenda pointed out by the government is the nuisance of middlemanship.
FDI in retail will ensure procurement of raw materials, especially of fruits and vegetables,
directly from the farmers, thus filtering out the roles of middlemen. Another proposal buoying this idea is that a minimum of 30% of the value of manufactured items procured should be sourced from small and medium Indian enterprises. The government backs its decision with a host of other reasons, e.g., the presence of foreign retail majors will ensure supply chain efficiency. It also alludes to examples of some other nations like China, Thailand etc.

View 2) The second version includes the views of the opposition and those who consider this decision to be inconsistent with the nation’s development. There are over 1.2 crores shops in India, employing over 4 crores people, 95% of which are small shops run by self]employed people. The opposition claims that the move will lead to large]scale job losses. Since there is no compulsion to procure all the raw and manufactured materials from Indian sources only, it may lead to domestic agro-industries getting haywire. The move can also lead to market prices being controlled by the foreign giants, further causing a slump of traditional Indian markets and monopoly in the markets. The fact being pointed out by the opposition is that any comparison being made between India and country like China is crushingly in genuine.
Both these versions of possible upshots are anything but restrained. And going by the history of our nation’s reaction to issues pertaining to the common]man’s life, a lot of hype is being created over the situation and the issue, by and large, is being blown out of proportions. These extremist views, being largely politically motivated, are far from being the truth. The truth, in fact, lies somewhere in the middle; Firstly, a sheer glance at the whole matter at hand gives anyone the fair idea that this move is going to do more good than harm. Since the government is not directing anything against the Indian domestic enterprises, they can co]exist with the big guns of the world, and a healthy competition is never a bad idea in today’s world. They should, in fact, look forward to work in liaison with these companies. If the idea to introduce F.D.I means that the farmers are going to get their worthy rewards and the masses are going to have access to better qualities of commodities at better prices, then this step should be welcomed with open arms, even if this means that a handful of people will be driven out of jobs, because while choosing between two evils, one should always go for the lesser evil.
However, if the government is backing its decision purely on the basis of examples and
references of nations like China and U.S., then it should also keep in mind the grave differences between the highly disciplined systems of theirs and the chaotic conditions of our system.

The bottom line is that any step of any nature taken by the government is always going to
benefit a particular section of the society and at the same time, is going to be harmful for
another section. But the million dollar question is whether this decision has really been taken with a chaste heart, or is just another example of seasonal politics.
India offers an enormous opportunity for retail, but success requires an experimental, adaptive and innovative approach.

Contributed by suchin kulshrestha ( Class of 2008, IBS HYDERABAD )