As a professional, I see hundreds of resumes and vast majority of them are much weaker. Think of your resume as a 60 sec audition in front of a judge of a reality show. Personal reviewing of your resume quickly decides on whether to give the candidate a shot or send back.

Golden rule: Make a good first impression.

Before one gets invited for an interview, employers look at the resume to judge if the candidate is worth the time. Remember, you only have a few seconds to either make a good impression or a really bad one. My article describes the most common mistakes:

1. Structure – Formats and Fonts: Some people think that its creative to use different types of fonts and colours but in reality the creativity can just look clumsy. Avoid too many fonts types and sizes. A big font indicates that you don’t have enough good content to fill a resume. It look like as if you are SHOUTING. Small fonts may help keep your resume short but its not worth it if the reader has to squint.

Avid long paragraphs and long texts.  Recruiter quickly scans the resume and usually skips over long paragraphs and might miss on the key information.

Use of Bullets in formatting can ensure better reading comprehension when visually scanned. Always leave comfortable margins and make sure that it is nicely aligned. Look neat and smart. If you can’t read it, you can’t sell it. Also, keep in mind that there is a good chance that your resume might get scanned electronically as many companies are using special software for same. Wacky formatting and fonts may not get picked up by the software and resume could get tossed undeservedly.

2. Too Short & Too Long: Try to keep your resume to 1-2 pages in length. Freshers should stick to one page while experienced can get away using more space. If you find yourself short on work experience, think about the relevant extracurricular activities. Include volunteer work and the contributions you have made. List down pertinent skills like software programs and other tactical skills that apply to the job.

As one gets work ex, you won’t space for these “extras”. But keep in mind to use your “common sense” in selecting and mentioning your skills.

Likewise, don’t make resume too long. Stick it to 2 pages only even if you have been working for many years. However, keep in mind that many employers are always more interested in the job that you have held recently. Use your space wisely to describe your current work experience and edit down on the description of the earlier jobs.

3. Spelling mistakes and grammatical errors: A grammar error and misspelling can stand you out like a sore thumb and tell the employer that you are careless. These mistakes are easily avoidable.

Take extra time to re-read your resume several times. Its very easy to catch the embarrassing mistakes when you repeatedly work at your resume.  Take help of a friend who can help you in catching spelling mistakes and grammatical errors.

Also, its very important to proofread your resume when you are applying for a job that require writing skills. For a future prospect Boss, your resume is your first work sample and will reflect your ability in writing if hired.

4. Keep it Simple: Avoid using weird colours, formatting and paper. Your resume should be simple and elegant. Let the words speak for your work. If it’s a hard copy make sure it doesn’t look like as if pulled out from a trash can. When you bring your resume for an interview, carry it in a folder to keep it crisp and fresh. After all it meant to be a marketing document – an introduction that will get you to the door for an interview.

5. Inaccurate information: If you are lying in your resume, you are taking a big risk. You are likely to get busted during your reference checks. Another common fib is with languages. Don’t mention about the languages you can’t speak as it can’t be learned over the weekend. Always remember, dishonesty in your resume can get you fired down on the road.

6. Contact Information: This sounds silly but the truth is that many people forget to update their contact information in the resume. If you have changed our phone number, remember to update it. It you don’t, you might miss on the call you are waiting for. Also, get a formal professional email address. Don’t get an address that is too long and weird.

7. Objective: Tailor your objective as per the job you are applying for. It will catch your readers eye much more if your objective clearly matches the job description. Avoid vague statements. Convey your career goals in a clear way.

8. Two much Information: Describing your job duties in much detail to give the employee a good idea of your general responsibilities leave out the minute details that won’t get you a lift for the job. Highlight your job achievements rather than job description.

9. Tone of Voice: Thesaurus can be your friend if you think you are overusing the words in your resume. Don’t try to impress by doing crazy weity. Use action verbs that imply what you actively got things done like implemented, created, delivered, Achieved etc.

10. Confidential information: This is a big no. Avoid mentioning the minutest details of the projects details and the confidential information associated with the work in your resume. As this is considered breach of duties and policy of the company. Recruiter immediately rejects the profile.

11. Focus & Direction: Your resume should communicate your career progression and intelligent meaningful contribution. Even if your job history is marked with job hopping or appears transitional. Your resume needs to highlight the transferable skills you used to succeed in completing a project.

12. Never list direct references: List them on a separate Sheet and submit only when specifically asked by the recruiter.

Your resume is your first face, so it’s very important that you take enough time to make sure that it looks great, is accurate and a powerful representation of your skills and qualifications.

“Emphasize your strengths on your resume, in your cover letter and in your interviews. It may sound obvious, but you would be surprised how many people simply list everything they have done. Convey your passion and list your strengths to measurable results.  Employers and interviewers love concrete data. —  Marcus Buchingham

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Contributed by Shilpa Aggarwal Gupta  ( Class of 2005, IBS HYDERABAD )

 

There are a variety of MBA programs to fit your schedule. Many colleges and universities offer:

• 2-year Full Time MBA Program– Requires full time attendance, which means you can’t easily work while attending school. Most traditional colleges and universities offer this type of program.
• Accelerated MBA Program– Usually completed in 18 months, the accelerated program is similar to the full time program, but with less down time between semesters. For example, you may take classes over the summer and winter breaks.
• Part Time or Weekend MBA Program– The part time MBA program is popular with working adults, because it allows you to attend class on the weekends or weekday evenings. The drawback is the part time MBA program takes longer to complete.
• Executive MBA Program
• Distance Learning MBA Program– Another option for busy and working professionals, the distance learning program allows you to take classes from your computer and is less time intensive since there is no commute and coursework may be completed on your own schedule.
• Dual MBA Programs– these are usually in combination with another closely related discipline. The most common is an MBA in combination with a Juris Doctor, a.k.a. the JD/MBA program. Other popular programs are the MBA/MA program and MBA/PhD program.

Specializations

The purpose of your MBA is to help you land the job you want, in the area of business you want. To that end, there are many different MBA specializations to help you do that. Every college and university has its own set of options when it comes to MBA specializations. So it’s important to consider your desired specialization before you choose your school. Keep in mind that some career paths will not require you to have an MBA, for example, in order to become an entrepreneur, real estate agent, or restaurant manager, you don’t necessarily need a degree, or an MBA. However, if you’re seeking an upper level management position with a company you’ve worked for for several years, an MBA might be just the leverage you need to be considered for the position.

In addition to the more common specializations, like economics, finance, and marketing, other specialization include:

• MBA in Health Care Management– prepares you for middle to upper level management in healthcare. Keep in mind that many of these positions may require some sort of medical credential in addition to your MBA.
• MBA in Human Resources (HR)– prepares you to work as the head of the HR department, advertising for, recruiting, hiring, training, evaluating and firing employees.
• MBA in Marketing– prepares you for a job in marketing, which may include media purchasing, working with a creative team, or writing ad copy for an advertising agency or PR firm.
• MBA in Communication– the study of communications prepares you for jobs related to journalism, PR, media and advertising.
• MBA in Project Management– project management is essential for fields like construction, technology, software development, architecture, and R&D firms.
• MBA in Entrepreneurship– focuses on developing critical thinking skills necessary for flexibility and innovation in a rapidly changing environment, usually best suited for technology endeavors.
• MBA in IT Management– prepares those with a background in programming, software development, CIS, database administration or IT to take on greater responsibilities managing a team.

In many cases, you may also have the choice not to specialize. In this case, you receive an MBA without an specialization attached. This is also referred to as a Vanilla MBA.

MBA Classes

The types of classes you’d take as part of an MBA program may include:

• Economics
• Sales
• Marketing
• Finance
• Management
• Human Resources
• Supply Chain Management
• Business Math and Statistics
• Operations Management
• Ethics
• Leadership

What you’ll learn with an MBA

With an MBA, you’ll learn the foundation of business management along with the strategic and critical thinking skills necessary to succeed in a variety of situations. An MBA program is much less interested in the minutiae of daily business and more concerned with the broad and far reaching issues facing a business.

Marketing

In terms of marketing, you’ll learn marketing strategy development, including identifying your target market, product analysis, competitive analysis, market segmentation, the marketing mix and the four Ps of marketing: product, price, promotion, place. You’ll discuss and implement strategies for positioning your product in the marketplace, including how to price it against the competitor and how to promote it through various media and advertising.

Accounting

Reading financial statements is another skill you’ll learn in an MBA program. Because you’re not trying to become an accountant, you won’t learn the specifics of generating accounting reports, however, you will learn to read and assess these reports, including balance sheets, profit and loss statements, cash flow statements, expense reports and annual reports.

Organizational Behavior

Organizational behavior is another important area of learning in MBA programs. You’ll discuss the importance of leadership in times of change within a company, how management influences a company’s culture, and how various continuous improvement strategies can increase productivity.

Finance

In an MBA program, you’ll also learn how to make financial assessments of a business, including evaluations of stock price, which allows you to determine if a company is under or over-valued. This can help you to make important decisions about when to make key investments, or when to sell certain assets. You’ll also learn the time value of money, which allows you to determine the present and future value of money, and aids in making investment and purchasing decisions.

Operations

As part of operations, you’ll learn how to manage the higher level management of the company. The emphasis will be on stepping away from the day-to-day issues that consume lower and middle management, and looking at the higher order of the organization. You’ll learn the importance of resource management and develop the ability to analyze a project or situation and understand which resources (including people) to assign to that project in order to achieve the desired goal.

Economics

You’ll learn aspects of macroeconomics and microeconomics, applying principles of economics to international, national and local economies to understand how people and organizations behave in the marketplace.

Strategic Planning

S.W.O.T. analysis is one of the key components to strategic planning you’ll learn in your MBA program. A S.W.O.T. helps you to assess the strength, weaknesses, opportunities and threats faced by a project or the business as a whole. S.W.O.T. helps you establish achievable goals, take advantage of your best assets, limit your liabilities, improve your performance, and avoid problems.

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

While joining M.B.A there must be many questions in your mind. What to do? How to do? When to do? These all questions are good in a way, as its better to get clarity of what you are going to do and where do you want to see yourself after few years down the line. The toughest question among all these is “Will I be able to get equal opportunity as an experienced professional?” Answer to this above question is a bit difficult but we can try to find out the same. To find out the above answer it is important to know the difference between experienced professional and a fresher.  One thing which may have very big impact in almost all the fields, be it doctor, lawyer, business, C.A. is How much experienced you are? The perception of people changes on its own when they come to know that you are experienced in a particular field. As people often tends to judge others in a quantified manner. In start of your life they will judge you by marks, then as and when you grow they will judge you by your income and after certain stage they will judge you by your experience. You cannot do anything to change the perception of People, but the only thing which we can try and do is become compatible enough to match the skills and knowledge that experienced professional has and corporates need.

Skills

Communication Skills – In order to be successful in your job and career, you must communicate powerfully and effectively with confidence and clarity. Your personality type and level of introversion or extroversion aside, if you can’t communicate your ideas in an empowered, clear and engaging way, if you can’t communicate properly than it may destroy your career. You will not be able to compete with your peers, who can communicate with ease.

“The most important thing in communication is hearing what isn’t said.” – Peter Drucker

Building Relationship –You cannot do what you want in your career, and advance successfully, if you are an island. And you certainly can’t achieve what you long for if you have alienated all your colleagues, peers and managers.

“The most important single ingredient in the formula of success is knowing how to get along with people” – Theodore Roosevelt

Decision-Making – Professionals must make scores of decision every day- from whom they sit with at lunch, to new assignments they will accept. Do you understand how to make decision so that it 1) Align with what you really want, 2) adds to your skill base and experience, and 3) Creates new opportunities for you that will be beneficial? It is also important to know how to make business decisions that will generate the outcomes that are most desired for the enterprise?

“When you see a successful business, someone once made a courageous decision.”– Peter Drucker

Leadership – You should have clue about the traits, behaviors and actions that true leaders demonstrate, and what                 stands them apart from the rest. Key’s to a professional success is learning how to empower, inspire and motivate others, to build a vision that’s compelling and to engender trust, loyalty and support from others to strive towards that vision.

“Leaders always think and talk about the solution. Followers think and talk about the problems.”-Brian Tracy

Above are the skills which are essential to have good career agility. This will help you to achieve zenith in professional life. If you are experienced, then it is assumed that you have all these qualities and you get upper hand in college placements. But if you are a fresher and capable enough to portray your qualities in Interview then it doesn’t matter whether you are fresher or experienced. Companies which come for M.B.A. campus recruitment only try to judge you by your skills and attributes. While we talk about attributes over here it is also important to know that what attributes are needed which leads to a good career.

Attributes-

Appearance- A professional is neat in appearance. You should meet or exceed the requirement of the occasion and pay special attention to your appearance.

“Nothing succeed like the appearance of Success” –Christopher Lasch

Demeanor- Your outward behavior should exude confidence but not cockiness. You should be well spoken and polite while interacting with others. You need to keep calm during critical situations.

“The only thing which should be at the back of your mind is DEMEANOR, as it showcase your personality and attitude”

Reliability- As a professional, you will be counted on a way to find the job done. Responding to people promptly and following through on promises in a timely manner is also important. This demonstrates reliability.

“Simplicity is prerequisite for reliability”

Competence- Professionals tries to become expert in their field which sets them apart from rest of the pack. You need to be competitive enough to survive and prove your worth.

I am, as I have said, merely competent. But in an age of incompetence, that makes me extra ordinary.” – Billy Joel

Contributed by Kandarp gandhi ( Class of 2014, IBS MUMBAI )

Linkedin Profile of Kandarp gandhi : https://www.linkedin.com/profile/view?id=126817878&authType=NAME_SEARCH&authToken=Jnr9&locale=en_US&trk=tyah2&trkInfo=tarId%3A1416557913185%2Ctas%3Akand%2Cidx%3A1-1-1

The topic is debatable for some people, but in my view… Why not? Why shouldn’t women pursue an MBA degree and break the glass ceiling? Just as is the case with men, women can command a higher rate of pay with an MBA degree than without. They can be promoted farther in their organization and be given more responsibility; without the MBA degree, they may hit a ceiling. An MBA degree also allows them to change their careers or to move from a technical career into management. Studies show that women are more likely to hold a management position after graduating with an MBA degree.

Women will have the same decisions to make in life about continuing to work while they are studying for their MBA degree. In addition, they may have a family to consider. While men also have that as a consideration, it is often traditionally thought that the woman is responsible for her children. When she goes to school, she will have to enlist the help of her husband or other family members to help with responsibilities. School can add stress onto a full schedule with children to care for and possibly a job to manage. Traditionally it has been believed that a woman must decide what she can handle and what must be delegated.

The Flexibility

For women who have children and a spouse, the flexible nature of the MBA degree is extremely alluring. In the past, prospective female students felt as if they couldn’t pursue the course they wanted because of the added pressures of family life. However, they no longer have to consider moving in order to find the most suitable business school. MBA degrees can be studied online, which means they can continue working in their current job, study whenever they can while never neglecting family duties. Working mothers can go after an MBA degree without taking the financial risk associated with quitting their job. In addition, most business schools offer a wide variety of choices. Many MBA degrees are broad in terms of coursework with graduates receiving a comprehensive education.

Equal Pay

The gap in salary between men and women is something that has plagued all industries since the dawn of time. Traditionally, male employees have always earned more than women with equal levels of skill and experience. Have things changed now that more women than ever before have MBA degrees? Not yet. There are still companies around the world that will hire a male MBA graduate over his female rival simply because he is a man. Sexism is not something that can be eradicated overnight and it may well be a few generations before something approaching equality can be achieved. What female MBA graduates can expect is better pay than those lacking that qualification. It is also notable that women have different career aspirations to men in most cases and this also accounts for the gap in salary.

Better and Equal Opportunities

The truth is it depends on where you get your MBA degree. This is no different from the question for a man in many ways. If you have the push and can get into a recognized MBA degree program, then the skills and business perspective you gain will help. It will perhaps level the playing field between you and other MBA graduates in business. When it comes to business, most women use a different set of skills than men to get them what they need to succeed. If that skill comes from your MBA degree program, then it might help you to be a better manager. Or it might just make you a more aggressive one and that is up to you to decide if that is what you want.

More women getting an MBA degree

Some business schools offering MBA degree programs are still accused of sexism as they accept fewer female candidates than what is proportional. Female MBA degree students often ask themselves how they can be respected and liked as well as wondering how to project a credible presence in order to be taken seriously. It can still be difficult to get a suitable job even after receiving an MBA degree. Again, female graduates wonder if a business will take them seriously or treat them with disdain. The latter behavior is slowly but surely disappearing from the psyche of companies that are now aware of the importance of simply hiring the best person for the job. Age-old thought processes with no basis in fact have no place in the world of business.

Preparing for the male executive suite: This fact may not send women rushing to fill out B school applications, the environment does teach you how to speak up, defend your position and perhaps most importantly – not crack when you’re challenged. A B-school culture prepares you for the corporate male executive suite as you hone your skills ribbing the guys and getting more comfortable being outnumbered by men. In short, B school gives you a much thicker skin.

Getting a risk appetite: Perhaps one reason that women are increasingly unenthused about law school is that law school education teaches you largely how to mitigate risk. Business school, on the other hand, teaches you that risk is constant and inevitable—and that you will always be working with partial information. As you learn to take bets on certain proposals, companies, and start-up concepts, you also learn to take bets on yourself.

Tone down perfectionism: Business school is the place to drop your perfectionist thinking and to embrace “Done is better than perfect” school of thought. You’ll become quicker and more agile at completing tough deliverables without sacrificing overall quality, something that generally speaking, will help you achieve more in terms of what you can achieve in your career, not less.

Hacking a competitive environment: A B-school teaches you how to battle, struggle and aim for the top prize, and you’ll identify what most persuades your counterparts. A lot of recruiters believe that MBAs have the skill-sets to approach a wide array of projects from a multiple functional standpoint and they tend to be better communicators, not only understanding or analyzing a problem and coming up with a solution, but being able to pitch it, sell it, and build interest.

Becoming “Numbers Savvy”: We all have to prove our end-game with numbers. You’ll not only learn to make more compelling arguments grounded in data at B School, but you’ll be more astute and better positioned when it comes to equal pay. Unlike some degrees, satisfaction is extremely high with an MBA (94%) and only increases with time post-graduation.

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

 

 

A psychological tick goes off in your head as soon as you cross 30 years of age, and someone who is considering to go for a full-time MBA in their prime is often questioned with a raised eyebrow,

“Isn’t it too late for a full-time MBA program?”

“Do B schools even look at MBA applicants over 30?”

“At your age, why don’t you rather choose between an Executive MBA or Part-time MBA?”

With people making it a job of theirs to remind you of your responsibilities, the decision to go for a MBA or not when you are ‘supposedly’ at a place in your life where professionally and personally you are well-settled, can be a nerve racking decision.

The fact that ‘Education is empowerment’ cannot be denied but once the decision to take a challenging course is made, one must not look back, instead strictlyevaluatethe reasons to pursue a MBA over 30.

Do I need a MBA degree?

First and foremost, know your motives for plunging into a two years management school; evaluate your goals keeping in mind a long term horizon. Where do you see you career going right now? Will a management degree provide you with a career extension or career alteration? Say you are an engineer wanting to now move into technology management that would mean you wanting to pursue a MBA for a career extension. Or perhaps, you wish to pursue a career change and want to shift from an E-commerce field to the banking industry or to start up your own entrepreneurial venture thereby wanting a career alteration. If you are satisfied with your current career progression, then a MBA might not be the right answer for you. Well thought self-evaluation of why one wants to pursue a MBA degree is important.

Am I up for classroom studying?

You may not consider this as a significant question; you may not value it enough to let the answer to this question decide the fate of you going for a full time MBA. But it is. When was the last time you sat in a classroom full of students and a lecturer, with books, presentations, calculations, competition, envy, exams et all? Do you have the discipline and concentration to go through two years of management school?

More importantly will you be able to function with peers who are perhaps five to seven years younger to you? MBA is also all about ones networking skills. Group studies, team presentations etc are part of the curriculum. Strong soft skills and interpersonal relationships prove beneficial not only in the course of the program but can also lead to lasting relationships that can go onto becoming business or entrepreneurial successes. One must take in these factors too, to make their decision for a MBA after 30.

Is it financially viable?

Do you have a family that needs to be financially supported, a mortgage that eats away half your income or other such responsibilities that need you to stay in a job? Then obviously a full time MBA is not for you. Not only MBA will call for quitting of the job but it will also bring with it a student loan of two years and/or moving to a different city to attend the school and thus increasing your living finances.

Which B school do I choose?

Once you are sure that a full time MBA is the answer, one needs to carefully evaluate ones options. Although B Schools do not discriminate by age, a careful research can show us the average age of students the school intakes. Also, analysing the trend of placements will help one make a better choice. Say a management school has maximum placements in Investment banking and consultancy. Both the industries offer lucrative salaries but it is a fact that they lean towards hiring people who will give them the best years of their lives and who have the potential of becoming managing directors before the age of 40. For someone who is going for an MBA post 30 years, this B school or this industry may not particularly be a wise choice.

Is my application effective enough?

Assuming you have strong reasons to pursue a full time MBA, you have done your research on the right B school fit and you have secured a good score for an interview, the next step would be to create a strong application that will pass with flying colours the stringent scrutiny of the B school admission procedure. One needs to articulate theiranswers and show dedication to studies, consistency and initiative in career graph, contribution to the society – all through the interviews. One needs to be very clear of both their short term and long term goals and unlike their young counterparts their goals need to be much more detailed that convey to the interviewer that the diversity that their age and experience will bring to the program makes them an indispensable asset to the B School.

The B School needs to believe your story. Your goals need to be realistic and your past and present accomplishments need to match with your future goals. Develop an argument that turns your extra years into a plus. Proactively address the point of why now is the right time for you to apply, and that the success and impact you will have with the MBA,ccomplements the rest of your experience. Emphasize the value of the additional experience and broader perspectives that you will bring to the MBA program.

The rules for every management school are the same irrespective of age, they want the same typeof students to represent their management brand – a diverse group who will make an impact not just in their professional spheres but also in their communities; Someone whose careertrajectory shows consistent progression, whose goals are well defined and match the B school’s vision.

Yes the opportunity costs are higher for older candidates, but if they are aware of the challenges they will face at the business school and are crystal clear about what they want to do immediately post-MBA, there is no reason why they shouldn’t say a YES to MBA over 30.

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

Introduction

As you might be aware that the Prime Minister of India Narendra Modi has recently (on September 25, 2014) launched a new campaign, i.e. Make in India to attract businesses from around the world to invest and manufacture in India. The objective of this campaign is to create jobs, boost national economy, converting the India to a self-reliant country and to give the Indian economy global recognition. The ‘Make in India’ also attempts to enforce the inflow of Foreign Direct Investment (‘FDI’) in the country and improving the present scale of services by partial privatization of loss-making government firms. The campaign is completely under control of the Central Government.

1. Why is this ‘make in India’ campaign necessary?

There is no doubt about the fact that the PM understands the Indian economy and its problems well. He is well aware that this country has population of 120 crore plus people. And out of this, 50 crore people are from working class. This makes India one of the largest countries with such a strong manpower, just next to china. And this workforce is increasing by 1.2 crore a year.

Further, due to advantage of ‘demographic dividend’, India will have a largest pool of young people, even surpassing to China.  (I am sure those who read leading dailies and magazines to crack GD-PI would know ‘demographic dividend’). This period of reaping benefits of demographic dividend will last for next 3 to 4 decades. However, it can become lethal if the equal work opportunities are not provided to this large chunk of working population. It can create social unrest within the country. Hence, it is a biggest challenge to provide work opportunities to all these people and for that something should be done today to address these questions. Further, India there is some USPs (unique selling proposition, full name is provided for the benefit of my finance aspirants’ friends ) for India, which makes her a attractive destination. These are…

• India is one of the fastest growing economies of the world.
• The country is expected to rank amongst the world’s top three growth economies and amongst the top three manufacturing destinations by 2020.
• The cost of manpower is relatively low in India as compared to other countries.
• India has long history of business and there are responsible business houses operating with credibility and professionalism.
• Strong consumerism in the domestic market as India herself is a biggest market with the population of 120 crore.
• Strong technical and engineering capabilities backed by top-notch scientific and technical institutes. Further, India is producing largest chunk of English speaking Doctors, Engineers, Accountants, Management Graduates, teachers etc in the world.
• India has well-regulated and stable financial markets.

       2. India’s GDP composition: Agriculture, Service sector, Manufacturing sector

You would be surprised to note that the service sector contributes most to the India’s GDP, which was not the case earlier. But now the service sector contributes 57% whereas Manufacturing and agriculture contributes 26% and 17% respectively. So, as we have seen that due to neglect of the manufacturing sector in the last 2-3 decades, its size has reduced to half of the size of the service sector, whereas it has more capacity to employ large population compared to service sector. Further, there is an immediate need to move people from overburdened agriculture sector to either service sector or manufacturing sector. Service sector has its own requirements whereas manufacturing industry can accommodate this population. In view of all these reasons, there is an urgent need to revamp manufacturing sector to provide work opportunity to large chunk.

      3. How ‘Make in India’ will be possible?

This is a million dollar question, which is running in the mind of bureaucrats, ministers and even in the PM that how to make this happen?  According to me, there are some issues which need to be addressed to get this thing moving.

• By removal of unnecessary laws and regulation/amending the older ones

I think there is an immediate need of undertaking reforms of labor laws in this country. Due to some stringent regulations, entrepreneurs do not consider to employ large number of labor because of fear of unions, compliance of labor laws etc.  Further, there are various absurd laws which are older than 100/150 years and have not been amended. Hence, they have lost their relevance and in view of the same, the government has to implement these reforms on urgent basis.

• By creating investment friendly environment

Another important area is to create investment friendly environment in the country so that India can attract large amount of FDI. This FDI will help in creating industry base for sectors like defense, aeronautics, medical equipment, power generation, heavy industries, infrastructure, real estate etc. and also boost the capital asset formation ratio of the country. A large number of employable labor; both skilled and semi-skilled can be absorbed by these sectors. Hence, there is a need to make India an investment friendly destination.

• By Developing infrastructure

For attracting foreign investment and industries, the government needs to first develop required infrastructure. It will have to improve connectivity (be it road, rail, air or internet), create special economic zones, ports, etc. It is a win-win situation for the government to develop infrastructure of the country as it has to create only basic infrastructure to attract foreign investment. Once it is done, domestic and foreign companies will develop remaining infrastructure on its own to facilitate their business further.

The above is just list of few areas which came to my mind andthere may be some more additional areas. But these are also extremely important to look and act upon.

4. Sectors on focus

All in all, following 25 sectors have been included by the Government in this campaign which is considered important.

1. Automobiles
2. Automobile Components
3. Aviation
4. Biotechnology
5. Chemical
6. Construction
7. Defense Manufacturing
8. Electrical Machinery
9. Electronic Systems
10. Food Processing
11. IT and BPM
12. Leather
13. Media and Entertainment
14. Mining
15. Oil and Gas
16. Pharmaceuticals
17. Ports
18. Railways
19. Renewable Energy
20. Roads and Highways
21. Space
22. Textile Garments
23. Thermal Power
24. Tourism and Hospitality
25. Wellness 

5. What if ‘Make in India’ does not become a success ?                

I believe that, for India, this is a golden chance to become superpower. The stage is set and we need to just act. You would also agree that India has everything now, a good government, young working population, rising middle class, self-dependency in many areas etc. Currently, the entire world is watching us. According to one theory the world is looking India as an alternative of China. So it’s up to us now that we want to seize this opportunity or not? I think, if we act onsome areas as discussed above,than no one can stop us from becoming a better and stronger country in the world.

References:

1. http://makeinindia.com
2. http://en.wikipedia.org/wiki/Make_in_India
3. http://www.indexmundi.com/india/gdp_composition_by_sector.html
4. http://indiatoday.intoday.in/story/make-in-india-raghuram-rajan-arvind-panagariya/1/407665.html

Note: The views expressed in this blog are my personal views and not those of my employer.

Contributed by janmang ( Class of 2010, IBS AHEMDABAD )

Linkedin Profile of janmang : http://in.linkedin.com/pub/janmang-mehta/21/b17/b59

MBA is a degree which remains green all the time, as its diversified degree and some sector or the other always performs well until there is a total burst. However there are ups and downs in every things of life, if I remember the year 2008 that was the time when world was in great shock and has gone into the recessionary  phase and the whole financial sector was in great turmoil , the big giants like Merrill Lynch, Bank of America, Lehman Brothers all have failed badly , the whole world was in great shock and the job cuts are rampant, and many of the pass-outs in 2008 to 2011 not able to get a proper placement  and Mba colleges have struggled to place them,  so it’s always been suggested that when you are making an investment look at  time and market scenario ,however it is myopic to look at the immediate return after two years, but the initial start matters.

Looking into the present economic scenario it can be rightly said that 2017 shall be going to be one of the most successful year for MBA aspirants and anybody taking an admission in 2015 shall be reaping an additional fringe benefit of the macro economic factors. MBA is a degree which has a direct influence of the economic factors as if the economy is in a positive phase then the economic activity increases and the job creations are more so more managers are required at that time .

Let’s see why enrolling for an MBA in 2015 shall provide extra cushion to the MBA aspirants

1. The vibrant environment – The Indian economy is over all moving in a positive phase , the GDP of an economy, the fiscal deficit and Foreign direct investment all are moving in a positive direction. The budget has strong growth impulses and response of the economy is positive. Moody’s has assigned ‘Baa3’ rating on India, with a stable outlook, which suggests the possibility of an upgrade. Improved performance of mining, manufacturing and services sector has pushed India’s economic growth rate to two—and—half years high of 5.7 per cent.
2. Specialized and Core domain knowledge – After 2008 recession, the market has suffered a lot and there is a greater requirement of trained people who have expert knowledge and can better analyse the risk factors of business and who can create a safety net by making use of the financial products like derivative etc, so good MBA Colleges make their students equip with the latest financial strategies and help the corporate by providing better business analysts and managers.
3. The stable Government– After a long phase of united coalition government, this time the government came with a clear majority and the government is in a position to take decisive actions with least hindrances. After a new government in place brings hope of stability, companies reach out to hire more students as job market recovers from slowdown of the past three – four years. The MBA colleges which were worried earlier for placement in many cases managed to find summer internship opportunities for all their students in flat three days. The country has seen signs of recession in 2008 which has lasted till 2012, now there is a period of boom which is awaited and the good phase shall be there at least till 2019 or 2020.
4. Pre Placement offers – if you look at the pre-placement offers it has improved as earlier the companies which are shying away from PPO are lending their soft hands and giving a PPO as there is a positive indicator of growth in the economy and the business of companies reaching new heights.
5. More job Opportunities– The economy is opening up and new ventures, new ideas are making a mark, Investors who are holding their money due to uncertainty are now bullish to invest and the corporate are able to procure funds easily and thus there is a buzz in the business , beside conventional jobs there are lot of openings in startups as thus creating a positive impact overall.
6. India a manufacturing Hub– Modi government is initiating “A MAKE IN INDIA” concept and trying to invite more and more companies to benefit up manufacturing operations in India and reap the benefit of cheap labor. Once India will become a manufacturing hub more job opportunities shall be created and more managers shall be required to manage the show.
7. More entrepreneurs rather than managers- when the economy activity sprouts there is more of a consumer demand and people start thinking of starting something of their own. MBA graduates start thinking of starting some new business which has a potential and scalability as getting funds is not so difficult as it was in the past as now there are angel investors, start up fund houses and as well HNI investors. The economy is passing through a growth a growth phase and more MBA pass outs start venturing on their own rather than joining conventional jobs, so the positive environment creates more of employers and more jobs in the market.
8. Stock Market Performance– The stock market which was sluggish in 2008 onwards have performed magnificently and every time creating a new high. More of FII’s are getting confidence in the Indian Economy and getting investing in the Indian stock market. The stock market is presently hovering at 27000 level is expected to touch 35000 level in two to three year time. Thus People taking admission in 2015 shall have a very prospective carrier growth as there shall be ample of opportunities available in 2017 when they pass out from their business schools.
9. Micro finance organizations and soft loans schemes- With the coming of new micro finance organization, people who are starting up small businesses shall be getting finance from business, as well there are lot of startups fund houses and angel fund houses who are readily financing the startup. The non financial organization like SIBDI is also providing soft loans with 3 year moratorium period, so all these working unitedly creating a vibrant environment of more business opportunities, more jobs creation in the time to come.
10. Better investment climate– The government is focused to improve the investment in the country by creating a positive outlook , a greater FDI inflow and increasing investment cap on the closed sectors or partially opened sectors, the RBI is also not increasing the interest rate which helps in boosting the business

Looking into all the above mentioned points, i.e. Stable government. Positive outlook, better policies and road to development it is believed that it’s the right time to plunge into an MBA course and come out with flying colors in 2017.

Contributed byManeesh srivastava (Class of 2008, IBS GURGAON )

Hiking up to Machu Picchu over the weekendafter working with the Peruvian government on weekdays?An evening walk on the cobblestoned streets of downtown Prague, once you had garnered accolades from your client presentation?Closer home, you have just closed a sales deal in one of the beautiful islands of south-east Asia, and now surfing on the waves in blissful Bali?Dream or reality?

In today’s ‘flat world’ and close-knit economies, with your MBA degree, you have a better opportunity today which hardly existed before.

After three years of my MBA, I had visited seven countries and walked more than a dozen global cities. This encompassed four continents. At the end, I had added one of the most revered word on my resume – experience – which all the companies look for. Travel not only enriches one’s life but also adds a global perspective, which is so important to grow professionally today. So, how does one achieve it ?

1. Look for b-schools with collaboration with foreign schools

Many b-schools offer international study programs. Participating schools have collaboration with foreign universities and institutions, where you can enroll for exchange programs. Typically under such programs, you will be allowed to study one semester or choose electives abroad. While selecting a b-school, you must give weightage for such programs and courses. I know of few of my friends who spent one full semester in Australia under one such program in IBS Hyderabad. So, go and explore.

2. Try volunteering opportunities

Many b-schools are flexible and allow credits for volunteering opportunities. You can take up a project in your chosen international non-profit organization and travel to see a new place. Sometimes you do not have to spend much – even your flight tickets and accommodation could be sponsored by these organizations. Use your negotiation skills learnt during your MBA. Not every project may be meant for you. But you can always leverage upon your business acumen to add value to the organization. Check these websites for your fit: independentvolunteer.org, goabroad.com, globeaware.org, workaway.info

3. Explore your Corporate World

An MBA program gives you a very niche skillset. There are individuals in organization who move from domain or function to another. Be part of such cross-functional teams. Whenever I traveled on my business trips, I ensured that I met prospective clients from not only my area but also from other functions and domains. Though officially I was never part of the marketing team, I generated leads for my employer during my trips. This happened because of my interpersonal skills and my penchant for people. Consequently, I added value to the organization and, most importantly, my next business trip was confirmed.

4. Global or local, external or internal, get indispensable

Not every MBA grad joins a global brand or an MNC initially. At times, even though you work for a global corporate with presence in multiple geographies, probability is that you are part of an internal group or an Indian client. This should not dampen your spirits. Opportunities exist everywhere. It is up to you accept the challenge and open new vistas. I was part of an internal group in my company where there was hardly any international travel or assignment involved for an MBA grad at my level. But due to my skills and perseverance, I was encouraged to take up responsibilities which were generally offered to senior consultants. Soon I was able to deliver and my contribution directly impacted the balance score card of my organization. This helped me in my first business trip to Spain for a week, which included two weekends for me to explore the Spanish culture.

5. Impress your clients and get rewarded

Once you have done this, organizations will ensure you work at client interfacing roles. This means that you have internalized the Porters five forces well. With your new found bargaining power, tap new clients in new countries. Employees with better insight into business and customers’ needs often lap up such assignments. Who better than you with an MBA degree!

6. Take advantage of your visa power

During your MBA, apply for job in organizations having considerable presence in countries like USA, Canada, UK, Australia or any European Union nation. Try to get an onsite opportunity through your employer. Once your Indian passport is stamped with the long-term visa of any of these countries, you will not require visa to travel more than two dozen countries. And with your MBA attitude, you earnestly stand a chance to be granted long-term multiple entry visas. Since I possess business visa of USA lasting ten years, I traveled to Mexico for two weeks without any visa hassle, on my own. MoreoverI can travel to few other North and South American countries as well. As a traveler, seeing the growing number of stampings on my passport exhilarates me. And the air miles I accumulated on these trips as frequent flier was decent enough to sustain more trips. Did you hearthe multiplier effect?

7. Search jobsin other geographies

Many startups in developing nations are looking for skilled individuals, who can take up challenging assignments. Being an MBA grad, you certainly fall into this category of problem solver. Look for jobs in these countries where obtaining work permit is not tedious. A decent proficiency in a foreign language will boost your career. This motivated me to learn Spanish language.One of the best examples of this involved an Indian whom I met over a social networking site. He was selected for a startup job in Chile and applied for one-year work visa in Delhi embassy, all by himself. Once processed, he was off to Chile and during vacation,as a backpacker, he roamed in the neighboring countries, Ecuador and Bolivia, which do not require visa for Indians.

8. Take the road less traveled

There are few industries, which allow MBA grads like you to travel extensively. Hospitality industry is one such. Try out being a manager on a cruise ship. My friend, after his MBA, joined one such company and now, cruises to new ports in different countries. Explore opportunities in an international hotel chain. Tourism and IT sectors are other few industries worth trying.Apart from these, there is a growing demand for managers and other specialized roles in the social sector also, spread across the globe. Inter-governmental organizations like United Nations, UNESCO, and UNICEF are constantly looking for skilled managers in various countries.

9. Make your MBA and hobby a delicious combo

Do you have a hobby, considered as mere pastime by you, but there are professionals who make a living out of it? Take a step back in your life, look within yourself. With your MBA knowledge and experience, it is time delve into the business side of your hobby.I had always been interested in writing. I leveraged this in my job, and was soon writing technical papers for prestigious conferences hosted by the likes of SEPG and IEEE. Fortunately, my papers received acceptances. They were so prominent events that even my employer could not ignore them. Soon, I was hopping on flights to countries like Spain, Australia, USA, Indonesia, Singapore and Thailand to present my work. All expenses sponsored and I was living my dream.

10. Virtual office of your location

With the advent of internet, virtual offices are possible today. Try telecommuting. Log-in from your laptop, either from a beach or a national park. All you need is good internet connectivity. Social media evangelist is one such role for MBA grads. It may require extra bit of hard work and luck. But you can always choose the country of your liking and still, work for your organization, fulfilling your dream of traveling.

Remember, like an MBA course, globetrotting is also a specialized experience which requires you to get out of your comfort zone. It’s all about how much risk you can take, now that your b-school has equipped you with the requisite knowledge and skill sets. Walk that extra mile, see the world and add perspectives to your life and career. Till then, happy exploring!

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

Linkedin Profile of Suyash Chopra : www.linkedin.com/in/suyashchopra