Why i could not make it and less deserving did?

Posted on April 10, 2015 by IBS India

“You eventually become what you think what you are in your head”

I heard someone saying that at an event and I just flipped and said “Damn in few years I am gonna be a high profile bollywood celebrity”.. Oh Yes! I know its funny. But that’s what, we have an image of ourselves in our heads and that how we try to behave. I do not know if the statement made by that over dressed lady is true or not, But yes it definitely clicked my head that we always tend to make our image more better (rather much higher) than what we actually are. Some people start living that fictitious image 24*7 in a manner that people like me when we actually see them and we are like “hai kaun ye, samjhta kya hai apne ap ko”. That’s the moral, whatever that person samjhofies himself is completely not in sync with what he/she actually is. Trust me about it, this behavior is so damn irritating!

I do not mean to say it’s bad to make an image in our head and start living that way. I think it is good but it depends on what image are we carrying. I see people in small towns living in a polished manner and talking in an effluent English which is very unlike the surroundings they are raised in, it is just the image of themselves in their heads that has worked for them and probably that defines the way they are today. On the contrary, I see some guys in their porchest of cars on the Saturday nights in the Haus Khas Village Parking and they behave like as if they haven’t been to the school ever and have been raised in a zoo tough they happen to have residence at the porch location. It is nothing but a difference in the matter of what image they have made in their heads and they work to live that way.

In life, it is very easy to look down upon someone basis how they look, what they speak, where they come from but its very hard to appreciate what they have become and how they have changed. We all have our respective stories and struggles that we are fighting without talking about it. It is very important to be competitive in the good spirit to win your way but equally it is not healthy to look down on the one who succeeds. There are times we see our ex with someone new and we talk all crap about the new face beyond the fact we do not even know him/her as a person or there equation but judge that new person basis what we know about the ex we have dated in the past, which is not fair actually. In the same context, when you sit for group discussions, interviews and you think basis your CGPA and class reviews that you are above all but you end up not going further in the interview and blame the interviewer on his/her hiring skills is actually sad because we tend to judge people basis on the stereotype in our head, we do not think logically that maybe the HR was looking for more of subtle people or he/she matched the job profile better that what I did. We won’t appreciate the points that they made during the G.D but will bring down on what we have seen them in the class as or in/around the campus. The HR person comes to the college without any preconceived image of the people who will be at the interview and makes the choices basis the content they come across. So before judging who is deserving and who is not we should just go by who is the better fit as per the job description and hence we will get our answers right. This takes me back to the instance when I got through Star TV and a geeky girl happened to congratulate me while crossing each other at the college stairs. As always I thanked her with a pleasant smile but she being sarcastic enough left me with a remark saying that “tu toh intelligent hai, hum kahan” knowing the fact that I have a CGPA which just allowed me to sit for the interview and blessed with the Grade sheet like D D E B D C which I had to fight clearing. But above all, the time you start celebrating someone’s happiness, the moment you grow as person and soon you have a story to share.

I know for the fact that no matter what, we humans can’t stop judging. It comes natural to us. From someone’s clothes at a wedding to the way they dance, their spouse we have to judge it all. Wish it could stop there, we carry the same traits to the college and work as well. Someone got placed in a better company, he/she doesn’t deserve because she flunked in that subject, she has bad oratory skills, we have to judge it all. Rather than finding out the areas that we need to work on and why we did not make it we would insist and talk more on “How could she?”. Most of us carry this at work when we find some one getting appraisals at a faster pace, we judge them too on their subservient attitude with seniors rather than having a look at the work they deliver. I don’t mean you to clap and dance at people success like a saint, but respect someone’s achievement in life post when you have been a part of the race where they succeeded rather than judging their success as a matter of fate. I do agree that no matter how much someone tells us not to judge but it comes natural to us. Maybe we have a better opportunity knocking our door by the virtue of time. So we should rather celebrate other’s success so as we have people by our side when we have our moment.

Contributed by Rahul Wadhwa (Class of 2013, IBS GURGAON)

Sweating It Out For A Dream Job

Posted on April 10, 2015 by IBS India

India is a land of teeming millions and each one of us dreams of making it BIG in this land of vast opportunities and an even larger competition for survival. In this horde of striving to achieve more from whatever is available, it’s the young and free spirits who are able to grab their share of success. So the catch here is to block out the noise and set yourself on the ‘right’ path.

We all want a dream job. Just like finding that one great love, it’s a goal that virtually everyone has. After all, over the course of our lifetimes, we’ll work for close to 70,000 hours–and that’s a lot of time to waste on something you’re not passionate about. While identifying the ideal career is not a walk in the park, I’m here to tell you it’s also not a fantasy. As with anything in life that is meaningful, it requires making a number of clear commitments. Let us first of all define what a dream job is. This may differ from person to person but for some it is the job in which he can achieve all the goals set by him & suits his career objectives. For some it is only money, for someone else, it could be the job satisfaction which makes a particular job a dream job.

MBAs in today’s world have plenty of opportunities, but they generally stick on to lucrative options like a career in Finance or Marketing. A dream job seldom means a new venture or a startup. We cannot say that “Dream Job of an MBA is Just that”, it can comprise a lot of perspectives depending on person to person. In the end what matters is his expectation from life.

Having a professional degree, specifically a management degree puts you into an entirely different category from other candidates for a few reasons. One of these reasons is that management can see that you’ve been trained in common business practices, and that you have the professional training necessary to think critically and creatively in a number of given situations. It also means that you’re committed to the idea of your field of focus, and that you’re willing to work hard and make sacrifices in order to make it in your industry.

If we consider today’s situation it has totally changed because better economy and more and more opportunity coming in for young graduates to prove themselves which is seen in the manner most of the B School graduates are leaving good jobs and taking the route of entrepreneur. In my view “Just that” is subjective to the individual. If the individual chooses to become an entrepreneur, for him that is his dream job and similarly someone wants to pursue as a consultant that is one’s dream job. Putting them together, MBA gives you the ability to choose what is good for you; It is a better filter in terms of choices and makes oneself a better filter and go for the one.

Before we take any further stances, let’s try to understand why we see a shift in the attitude of people towards “Money at cost of satisfaction”. I think it’s the word “Risk”, not many people want to take a risk by starting a company. Starting a company has become a risk these days, unlike countries abroad; there are not many incentives for the person who starts the company. There are people who might not get a good job, though they graduate from a grand B-School but that would be just because they might not be able to find out there right job which suits their personality but their aspirations cannot be stopped and the search for growth and a perfect job begins. MBA makes a man knowledgeable about business organization and ethics and it’s important for a manager of a good organization to have such an understanding.

In the current scenario, it’s quite legitimate to go for a job rather than go for a start up of your own. The spirit of being an Entrepreneur is more important than worrying about corporate taxes. Entrepreneurs are the people who take risks & are ready to face a crisis, persevere to achieve the goals & reap profits of their hard work. It is debatable as to how many MBAs are really trying to be entrepreneurs over the long run being well equipped to be an entrepreneur.

I’ve identified some tried-and-true tactics that help put people on that path, no matter your industry. Consider it your dream job checklist.

Know your greatest talent and purpose, and learn to speak with clarity and confidence about it.

This one is the hardest because it requires support from others. You know what you are good at when you hear it, but we all struggle to be completely objective about ourselves. For those who’re not confident about their soft skills, joining a finishing school to develop your personality, body language, inter-personal and social interaction skills will be beneficial. However, once you have an indication of what your talent and purpose is, you can then connect it well to your job. How?

First, find your talent: Ask 10 people who know you, what your unique approach is to the specific work that you do. It is very important that you can work in a team, coordinate with your colleagues, communicate with them effectively and make proper adjustments. Therefore, the first step toward getting a dream job is knowing what interests you and what makes you happy. Then find a job (or create your own job description) that includes and combines as many of those things as possible.

Then, find your purpose: Take an hour and think through your entire life, focusing specifically on the core challenges that you’ve faced. You should be updated with latest trends in your field. Once you identify the number-one challenge, this becomes the cornerstone of your purpose, because helping others overcome that same challenge -whether it’s a team member or your organization, is what leads to career fulfillment. The key to this exercise is understanding yourself and being able to connect your talent and purpose to your career objectives. If you can’t find a way to link them, then it may be time to consider switching gears.

Commit to finding or creating your ideal job, no matter what.

An employer is not only looking for a MBA degree but also the application orientation of the student. Students in B-school study the concepts of management in their classes but hardly understand how this knowledge can be applied in real business scenario. Thus there is a gap between theory and knowledge. To be able to bag the coveted job you must understand what business is all about and how you can contribute to the growth of any organisation.

Be realistic about your basic financial needs; but know that when you follow your passion, money often comes too.

To be a successful professional, you must be well connected and have a strong networking with people in your field. As Baba Ranchod Das rightly said, “Pursue excellence and success will follow”. In the real world, it’s important to figure out how much money you need to live and what type of job will accomplish that. Passion is important, but you can’t build your dream job if you can’t pay the bills.

Be patient and give yourself regular reality checks.

You must select a good/ reputed company in your field for internship as it is the only opportunity where you can exhibit your skills by translating them in performance. At the same time, you learn about a particular industry, how it functions and its operations in detail. It could take two years, five years, or even longer to find the right mix after lots of trial and error. Along the way, look for quick wins and positive trajectory. For some, it comes faster than for others. You can’t compare yourself to others and you can’t have a set timeline. If you aren’t energized by your day-to-day professional life, then you won’t stay committed, which will block the path to your dream job.

Thus, I would conclude by saying, most people blunder their way through their careers. They see an opportunity open up, figure the job is good enough, and then let momentum carry them forward. That might have made sense back in the days when a regular job meant a steady income and a retirement package. But today, if you’re not doing a job that’s uniquely yours- “your dream job”; you will eventually lose it to somebody whose dream job is your job. Your goal therefore must be to find the perfect job for you, the one that only you can perform the best, because it a manifestation of your personal dream and your life’s goals.

Contributed by Deeba, (Class of 2013, IBS Gurgaon)

Five Management Lessons from Mahabharata for MBA Grads

Posted on April 9, 2015 by IBS India

Undoubtedly, Mahabharata is one of the greatest epics mankind has ever heard or read. With so many possible interpretations of its characters’ behavior and the plot, it becomes much more engrossing for the audience. Similar to Bhagvad Gita, which contains meanings to life, and the various facets and nuances to way of life, even Mahabharata should not be just considered as a religious scripture.

According to me, the saga of Mahabharata is a great testament to the management lessons one can derive out of it. Not only for the proficient managers in an organization, but also for the aspiring managers and wannabe MBA grads, this mythology holds lot of relevance and value in terms of parallels that can be drawn from it. Be it in the area of marketing or leadership skills or people management or any other management related aspect, Mahabharata holds key to several work life management problems.

In this article, I have discussed few of the lessons which every MBA grad can derive from Mahabharata by analyzing its events and characters.

Importance of Networking and Relationship Management

Much before the war was fought, Pandavas were hugely outnumbered by Kauravas in terms of the military might. But they built their network with the like-minded kings. They maintained good relationship with their existing friends and developed new alliances. In professional life too, an MBA grad must build his network and manage relationship with them. After the MBA, most of you will be focused on building your career path in the organization. But you must never lose sight of the role played by your peers of b-school and alumni network. In workplace, you should reach out to as many people as possible. You never know when your network might come to your rescue when need arises. In the function of sales and marketing, bigger your network is and better your relationships are, you stand a better chance to strike good deals. In today’s world, social media platforms like LinkedIn must be leveraged to build your network.

Nurture a pool of Leaders in your Team

Either today or tomorrow, you will be entrusted with greater responsibilities in an organization. This means that as a good manager and leader, you must assume the role of a mentor. It is always good to have a pool of leaders in your team who can take up diverse responsibilities when time comes. A good leader or manager always provides direction to his team members, and is a source of constant motivation to others. Only then the team functions effectively. Being a manager, you must build this culture in your team, irrespective of leading a smaller big team.

In the Mahabharata, army of Kauravas was led by just one general – Bhisma. This followed one-man leadership hierarchy pattern. On the other hand, Pandavas were led by multiple leaders, owning up different battalions of the army and its operations at different periods of the war. This multi-leader strategy proved more effective in winning the war. Similarly, in an organization context, every function or department must develop second line of leaders, which is often termed as succession planning.

It’s about Team Play with Common Objectives

An aspiring MBA grad must understand that he alone cannot shoulder the complete responsibilities of the team, forget achieving the goal. It is the team spirit which wins the war or competition. Kauravas lacked team spirit completely. Every important member in their team had his own personal motives and aspirations with no common objective as a team. Only Duryodhana was in favor of war. Most of the warriors were against the war. But Pandavas were knitted together with one common goal – to win the war and earn back their kingdom – rather than just showcasing their individual prowess.

When a team is confronted with a bigger objective or target, everyone in the team must share the responsibility, and be accountable. Rather than having a centralized decision-making process, the manager must consult peers and other leaders in his team and allocate responsibilities to them. This allows others also to showcase their skills, which is good for the organization in long-term. This leads to maximum contribution from every team member.

Seek Mentors in your Career

Even the best managers need mentors who can guide them in time of crisis. Why only crisis, these mentors from their own experience can provide words of wisdom to MBA grads while taking everyday decisions in the workplace. An MBA grad must always look for a mentor in the workplace. It could be a senior manager from within the same organization or another organization. In the b-school, his or her teacher and professor can play this role.

In the great war of Mahabharata, even though Krishna never fought the war, he was the key strategist for the Pandavas, who guided them at each important step of the war. In the workplace, a mentor shows the path, which itself is sufficient for a good manager to understand and make a decision. Having a good mentor is important to grow up professionally. No matter how talented you are, one must seek mentorship. Arjuna, the best warrior in the epic with all kinds of weaponry in his arsenal, also required a mentor in the form of Krishna.

Choose your Resources Wisely

This is so true for HR students and in the case of recruiting managers in an organization. As a manager, irrespective of whether you are in the recruiting team or not, at some point of work life, you will have the opportunity to recruit new team members. At the top level in an organization, board members choose CEOs and CXOs. One must plan properly for the kind of skilled workforce required in the organization. Then engage the right people at the right places. A good manager is one who has an eye for talent. It is up to the acumen of the manager to spot the hidden talent in his team members and provide them opportunities to grow.

In Mahabharata, both Pandavas and Kauravas had the option to choose Krishna for their team. But displaying complete lack of vision and acumen, Kauravas selected Krishna’s army, and hence lost the war. Whereas Yudhishthira made a wise decision and opted for Krishna, who ultimately played a strategic role in their win. This also shows that even one resource can make a difference in an organization. Hence, a manager must never underestimate the power of one.

In conclusion, I must say that Mahabharata is a great source of knowledge and management lessons, which must be well understood and assimilated by every MBA grad.

Contributed by Suyash Chopra ( Class of 2010, IBS HYDERABAD ) can be contacted at www.suyashchopra.wordpress.com and twitter: @suyashchopra1

Top 5 Reasons why All MBAs are Not Successful Managers

Posted on April 9, 2015 by IBS India

MBA is considered to be equivalent of Manager in many cases. Most of the people believe that if you are an MBA you are sure to be a successful manager. Well, fact alert, one may not be a successful manager just by doing MBA.

The biggest tragedy with Indian students is the time that they decide what career they want to pursue. In most of the cases while completing graduation or after completing graduation students take random decision on pursuing post graduation in particular field, MBA being one of them. The main reason being it guarantees job (well in most of the cases if we be optimistic). But the question here is has the right decision being taken? Was MBA the wise choice?

The best way to choose a wise career is to think from all perspectives and weigh all options. Simply doing a post graduation course in business is surely not going to make one a successful and happy manager. Let’s check out top 5 reasons why all MBAs are not successful managers.

Area of Interest – In many of the cases what field one has selected can be the deciding boat. Have you always wanted to be a marketer and ended up taking a finance job? Well then in that case how you will be able to give your 100%.

First of all the question should be do I really want to do MBA? Because in many cases a person starts his/her career with designations such as executive, associate, trainee etc. If one dreams to be a manager from start of his/her career or he/she is just doing MBA to be a manager then this can be a spoiler. A manager is the one who looks after getting in line all the resources and processes and generate results. This is a skill which mostly comes with experience. Being a manager is not easy. So if one goes for MBA just by thinking to be a manager from start this may not work out. Just by receiving a post graduation in MBA will not help you acquire the soft skills which are required to be a successful manager.

First find out a strong reason to do MBA and then explore the functional area where your interest lies and then work hard!

Let me just avoid it for few more days – If one lacks the sense of responsibility, he/she cannot be a successful manager for sure. To be a manager one needs to be pro active and always alert to what’s going around. If one is disciplined and organized then that’s definitely add on.

Tendency of avoiding completion of work on time can be a really big spoiler for further success. A manager is practically managing the functions of the particular department. If his/her work doesn’t complete on time then this may affect the results and revenues.

Key to being a successful manager is to be proactive and being responsible towards the job assigned.

Demotivation – This is a scientific fact. A person cannot give his/her best effort if he/she has been demotivated for so long. Of course there are people who are self driven but in most of the cases, if a person is demotivated he/she feels negativity because of it. Whenever you will start with your job life you are going to serve under a boss. If you are lucky you will find a good boss but if you are luckier you will find a strict boss who will help you learn many corporate lessons.

The key to fight demotivation is constant belief in your skills. There may be few moments where you would simply want to give up and that is the time when you will have to fight against all odds. Demotivation can make you want to give up on your dreams. Fight hard and come out shining.

Lack of People skills – This is also one main reason why one cannot become a good manager. If you do not enjoy company of people, you don’t know how to get the work done, you don’t know how to motivate your team, you cannot become a successful manager at-least not in the eyes of your team. In short you may be doing a wrong job as well. Management has always been about management of resources and one must know how to optimize the efficiency of a human being. One should learn how to treat people well and motivate them continuously to give their best efforts. People skills are one of the best qualities a manager can have. Leveraging this quality will help you become a more successful manager.

Team Benefits first – Goal setting is very important aspect of management. A successful manager always knows what are the goals of his/her team as a whole. Everyone comes in a particular company for some reason, but to be successful one will have to keep personal goals aside and lead his/her team from the front to meet team goals.

Sometimes people fail to understand that when his/her team will meet success, personal goals will automatically be met. Instead of focusing on self targets, the team should be motivated to meet success factors.

Key Takeaway – Management is objective. It is highly subjective in nature. You can never be perfect but you can always try hard to become more and more successful. Each day, every day.

You may never come across a set or defined reason why you could not become a successful manager. Sometimes reason can be subjective. One employee may give one reason; another will give a totally different reason you for finding you an unsuccessful manager. Not to forget success is a state of mind. It is also subjective for different people. For one being unsuccessful manager can mean less promotions/incentives, for one it can be lack of recognition, for one it can be something else. If you want to become highly successful manager one thing is for sure, you will have to chart out the map of all your activities in such a way that each one leads you towards your goals. To become a successful manager you will have to continuously learn from your mistakes and never repeat them again.

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 Illusion

Posted on April 8, 2015 by IBS India

Long long ago, in an MBA college campus, there lived a young boy by the name Kabir. Kabir was an excellent student with a pretty good CGPA of 8.

So Kabir, braved through the courses in college and kept up his average, and then took on the challenging task in the final semester of MBA to work hard at facing interviews from various types of companies. Now Kabir had a dream of joining an Investment bank, and working with the finance division of it. He tried his level best, but somehow he was out ranked by a fellow classmate. Not losing any hope, he kept trying till the scope of job began to narrow down to I.T Companies or National banks.

He took a tough decision and decided to try his luck with these sectors, and suddenly landed with a job in a big I.T firm.

Kabir did join the company and underwent 3 month training with various processes of the company, overviews of the various divisions under finance and finally soft skills. Soon enough he was absorbed by one of the team which supported an application used by large investment banks as a platform to trade. With great hope of getting his first taste of working as a Business Analyst, Kabir joined the team. The first few days passed by with getting various processes in place. After which he and his fellow MT’s (Management Trainee) were asked to prepare test cases, and test the application.

Kabir was quite confused with the work that was assigned to him, as it wasn’t mentioned anywhere in the job description. Nor was any of his learning in the 2 years of MBA required to complete the tasks at hand. Still Kabir pushed through, and went on to work on all the tasks diligently.

After a few months, he began to question his ability and doubt his capability. It seemed like there were many around him getting assigned to different roles and he seemed to be stagnant with the work he was doing. A frustrated Kabir reach out to his mentors and was being told the same thing over and over again.

‘There is no requirement as of now for a Business Analyst, therefore we will keep you in mind when the time comes, and there are many projects in the pipeline. Don’t worry!’

When his team met for coffee that evening they looked at Kabir who seemed rather dull, and asked him what the matter was?

To which Kabir responded, “Guys, What THE HECK is happening!!!! I am an MBA graduate from one of the best colleges in India. I landed job in an IT company, in which I am working on tasks which can be handled by anyone who is an undergraduate. I just want to quit but I have a loan which needs to be paid off!”

There was a wise, slightly more experienced person in the crowd, who spoke next, “Kabir my boy, let me just point out firstly on how wrong you are about the whole matter. I apologize on behalf of the company for causing you such pain. But let me tell you a few things about the corporate world from my years of experience.

As a fresher, your expectations of the world of corporate are pretty high and you are focused on maintaining the same momentum, as in college. Which is commendable but things change so fast in the world around us that one must be able to adapt to any situation presented to them. For example in your MBA you are taught subjects from various streams before you specialize, think of the corporate world in the same manner. You have been given the opportunity to work in various streams before you get your break. I promise you, the way that you are working, it will come soon. You are very inexperienced to handle a team, or a project on your own, for which you are currently being groomed in ways beyond your understanding. Just have some faith.”

So Kabir, let go of his illusion of the perfect job and began to perform well with the tasks that he was handed.

In 15 months’ time Kabir’s team won a project, in which he finally got to work in the job which he was promised. In the meanwhile 4 fresh MBA graduates had joined the team. So Kabir took them out for coffee and decided to pass on the wisdom and set their expectations. So at the coffee table he got a quick introduction and said,

“Dear Graduates, firstly let me take the opportunity to thank you for joining the company. I understand you guys are very eager to begin working full-fledged in the project. But as you’re senior I would like to tell you that in our team things are a little different. We hire all-rounders and expect you guys to be comfortable in any work that is given. This is to test you and understand your strengths and weaknesses. This will also help you gauge your level of competency and you will be able to figure out what you really are comfortable with.

I suggest you stop looking at the job description that was given when you were being recruited for this role, as that is simply a guideline as to what we ultimately want to groom you guys into. There will be various ups and downs. You will have periods of work where the pressure will be high, and there will be periods where you will be free. Don’t worry about either, both are pretty temporary.

Open you minds to receiving any sort of work that is given to you and go about and take on additional responsibilities from your seniors and peers. This will give you a lot of insight to the project.

If you are frustrated reach out to your mentors, and take decisions based on rational thinking. The world is your oyster. Aim and achieve high.”

His speech was received with claps and cheers.

Contributed by Sujir Pavithra Nayak (Class of 2011, IBS Hyderabad)

Why MBA?

Posted on April 8, 2015 by IBS India

To answer the above question, an analogy between a painters’ painting and a professional’s career has to be understood. A professional can lead his/her career in the same way as an artist can paint his masterpiece but an artist cannot undo what he has done till that time on the same canvas if he gets some new thoughts during the painting. A professional can do it with the help of a ‘magical stick’ if he wants to change to the business/senior leadership side or if wishes to change the industry. That magical stick is an MBA degree. With this, I have stated one of the most prominent reasons which candidates have with them before applying to b-schools every year. Now, there are various other reasons which the candidate must be able to think through and be absolutely clear before he even thinks of writing competitive exams as to why doing an MBA is such a big deal?

So, what is that itching behind the desire of the candidate to use the magical stick- an MBA degree? Talking about candidates with some work experience, they start to get a feel that they will face a ‘glass-ceiling’ during their growth as a professional may be after 1-2 years or even after 6-7 years depending on the individual. Only an MBA degree will be able to bail them out towards a role which will require more business acumen or senior leadership i.e. a strategic role. Or in other words, to convert them into a more functional and business oriented role from a transactional role in the organization.

In today’s internet age, it would sound utterly illogical if one would say that I want to do an MBA to gain knowledge about managerial concepts when he/she can easily access all the literature for free on web. But having said that, it is the interactions with the faculty, industry champions and people with quintals of work experience and learning from their experience that makes an MBA worth it because one can never have access to that ‘experience’ of having mature business oriented interactions without actually doing them.

For people, who want to have something of their own, an MBA is just what the doctor ordered. Because, when they will be conceiving the idea of their start-up they will be well-versed with the parameters to adjudge the business feasibility of that idea. As a matter of fact, I can comfortably say that the experiences of people who had an MBA degree were much better than those who hadn’t when they tried to get funding for their business. An MBA gives you that ability to see things from different perspectives neutrally before arriving to a workable conclusion.

‘Connect the dots.’ is ‘the skill’ which one must master before even dreaming of having a more strategic role in an organization. So to master this ‘cutting edge’ skill, candidates look up towards an MBA degree from a premier institute. An MBA trains a candidate to be more of a ‘generalist’ than a ‘specialist’. So, once a candidate is out of the b-school, he remains a ‘generalist’ throughout his life which comes handy when he gets the position of as big as a CEO. For shouldering responsibilities at that level, having an eagle eye view of the business will be the most critical quality that the person must have.

Although till now, I have not talked about the most baseless and the most popular rationale behind candidate’s intent to pursue an MBA which is the carrot of higher salary packages after MBA. So, let’s be very brutally honest about addressing this rational because it is about money….the hardly earned money!!! So, the real picture is that when a firm employs you after your MBA, it pays you on the basis of what value you are bringing to the table. If you have not imbibed those soft or tangible skills in your personality during your MBA, then obviously it will not come out naturally in the job interview and the recruiters, now a days have that acumen to judge your value for the organization near to perfection. So, candidates who just do an MBA for the heck of it only to get hefty packages are doomed to be left disappointed. As a matter of fact, going out of the scope of this piece of text, this must be one of the reasons for candidates to ponder for as in ‘why not to go for an MBA?’.

And last but not the least, apart from giving a candidate an MBA tag, greater career opportunities, exposure and knowledge, an MBA gives you the chance to do a very strong business oriented networking. Simply, because of the nature in which its contents are unfolded and delivered to the candidates in a classroom environment, you get to interact with people from various industries who will bring to the table something different. A strong alumni network, industry contacts through esteemed faculties of the b-school, a chance to avail an internship opportunity with a premier firm to have a feel of the playground before the actual play begins are some of the other aces that an MBA candidate has up his sleeves.

Thus, apart from the above mentioned reasons there can be other reasons too as every single individual in this world is solving a different question paper which is unfolded by life in front of them. An MBA is an experience which might not end up as a pleasant experience for every tom, dick and harry if the individual has not thought through as to why he/she wants to have this experience. Thus, for this experience to turn out as a joy ride which would turn a candidate into a more business oriented professional, the justification must come from within and not cooked up by getting affected from surroundings as to ‘Why MBA?’.

Contributed by Sthita Sahu

The Three Mistakes During And After An MBA

Posted on April 8, 2015 by IBS India

“The greatest mistake you can make in life is to be continually fearing you will make one”.

We as human beings are prone to make mistakes. More so, during the most important critical period of our student lives, and essentially while preparing for higher education.

An MBA is radically different from any of the undergraduate courses we in India would have pursued. And more importantly, it would also be vastly different from any of the post graduate courses.

A regular MBA course is exhaustive, requiring long hours, substantial amounts of self study and most importantly considerable up-gradation of knowledge and skill sets.

It is over this last point that most students trip up.

The first few months into an MBA course will make you feel jittery over time lines, projects and most importantly presentations.

An MBA course prepares you for the rough journey in the big bad corporate professional world which is a stickler for time lines and accuracy.

The MBA is a full dress rehearsal for all things to come, both good and bad.

Use every moment of it, in constantly learning and updating your knowledge bank.

The most common mistake which we as students make is to treat the MBA as just another regular Post graduate course- a course which one has to pursue for the sake of pursuing to add another degree to our resume’.

Nothing could be further from the truth.

Using this degree in a resume’ to further one’s career will come later. The MBA offers you a whole two years to hone up on your time management skills, soft skills, communication.

Very few view this as an opportunity to learn and fill up the holes in ones personality. Most of us view he first six months see the course as dreary, full of presentations and impossible deadlines.

Our undergraduate courses hardly prepare us for the long haul and the bad patches which life will present us with.

The second fatal mistake we must not commit in an MBA program-is people. Yes people-till the time we enter an MBA program, our graduate courses are focused only on self study, requiring no interaction with other students-denying us of other viewpoints and experience.

The MBA is not an individual, solitary program-every project, every assignment, every marketing study requires to align ourselves in groups, sometimes possibly choosing our own team. Some of us make the mistake of not contributing anything in a team -the work will still be done nevertheless, but it robs the team of your inputs and robs you of honing your skills.

In your professional life, choosing to go it alone will rob you of growth amongst your peers- a habit you picked during your MBA can have disastrous consequences in your job.

We enter in to an MBA program with just one sole objective-to get a job. Failing to realize that getting a job-is the end result of what all we do during these two years. The electives we choose, the assignments we complete, the presentations we give, even the spell checks we run on our reports are all preparing us for the interview and the job beyond the interview.

A job is simply an outcome, most of us make the mistake of undertaking every action with a view to gaining a job, or seeking a place at the interview table at the most.

To get to a job, and a company we must be prepared adequately-Sun Tzu says “Those sweat more during peace time will bleed less during war time”.

Every decision you take during the course of your working life, it will resonate with activities during your MBA years, the endless hours spent on presentations, the tips given by peers on how to scrape particularly brutal reviewers will come in handy in handling sticky situations.

Simply skimming through the two years of an MBA, trying to avoid work (though honestly that’s quite difficult to do!) and the n landing straight into an interview is recipe for disaster. The interviewer looks at your complete personality, what you have managed to learn post your graduation and what are the particular skill set you bring to the fore.

The worst mistake which we commit is thinking post landing a job at an interview, the struggle ends. I hate to be the one to break it you, but the real struggle only begins from here.

Starting from which particular company’s interview you decide to choose to appear for, your first job, its location and its job description will make or break our life.

Imagine being stuck in a role or job profile for the next possible three decades of your life.

Carefully choosing the particular industry/job profile is key to your career progressions. A wrong choice here will make you rue your decision for the rest of your life.

Choose a company and a job which will make complete use of your skill sets, your abilities and your strong points.

The other thing to realize very early on in your job is to realize quickly when things are not going according to plan.

If you are not able to get adequate growth and consistently and constantly upgrade yourself in your job, then its best to take an exit option instead of sticking around and trying to turn things around. This is not quitting, but course correction and this is absolutely essential to survive and to learn.

Ultimately, life in all its stages is full of experiences and its mistakes and more importantly-learning.

We must make sure that we are constantly moving and learning, and acquiring new skills both during and post the MBA in our jobs as well.

The day we stop learning, is the day we truly die.

Frequently, during and post the MBA you will come across difficult situations and more importantly difficult people to deal and live with.

Learning to make peace with people who have a different opinion, yet asserting what you believe is right (both factually and otherwise) is a tact which will stand you in good stead throughout your life.

Contributed by sunil iyer ( Class of 2008, IBS GURGAON )

5 wrong decisions taken during your MBA which you may regret after 10 years

Posted on April 7, 2015 by IBS India

MBA is known to be a life defining career. All of those who have experienced this will agree with me. These two years will probably be the most joyous as well as awakening years of your life. From assignments to final placements, each event will bring something or the other experience which will be full of learning.

During these 2 years there will be many times when you will have to take decisions. From small to big, all the decisions will impact the course of your life at some point in time. There may be some wrong decisions which you may not regret once you get into job. But there will be some decisions which will require extra care from you before you take them. These decisions can change your life forever. All you will need to do will be to sit down and think about how they may affect your future. Let’s have a look at some decisions which you may regret after 10 years of finishing your MBA.

Chasing the Green – Someone has said that Money can’t buy everything but it can buy you most of the things. But is chasing money really worth it?

Once you get through a good B school, you start thinking on how you will be able to get the right job which fits you. Off course it is justified to get buck loads after you have successfully completed 2 years of hard work. But trust me money won’t matter that much down the line if you had decided to pursue something very different from what you had actually wanted to do.

Money is essential part of one’s life but sacrificing on your dream job is not worth it. It may happen that you may want to opt for companies or job profiles which are paying you good but it may so happen that the same company/job profile may not suit you later.

Earning money can be a goal but at the end, the only thing which will matter is peace of mind which you will only get once you opt to do what you want to do. Taking up a sales job to earn hefty commissions when you have acumen of creativity will not help you in long run

Wise thing is to go for what you want and what makes you happy even if it’s monetary value less. Excel in what you love overtime and Money will follow you.

Following the herd – Once you are in MBA, drop the herd mentality. Learn this straight and clear. MBA is a very professional course and maturity is expected from you. Just because your friend or your classmate is choosing finance it doesn’t mean you do the same.

Carefully analyse and decide the area of expertise/ field you want to go for. Talk to your seniors and your teachers. Attend you classes regularly. Participate in events and extracurricular activities and find out what interests you more. Weigh your options and then decide to go for what you want.

Missing the fun – MBA is a course which will develop your overall personality. It’s going to be the last two years of your education life why not to enjoy them to the fullest. Running behind grades will not help you. Off course getting good grades are important but what equally important is to enjoy your life and having fun. Make good plans and go out with friends occasionally. Take part in cultural events; join clubs roam around the city. Take break from studies. Whenever I think about how I enjoyed my days at B school, I miss how I used to enjoy mid night maggi and roaming around Mumbai with my friends. You will also make memories and will cherish these memories for the rest of your lives. You will have to decide when you want to take a break and have some fun and I am sure you would not want to regret upon deciding not to enjoy your life.

Not networking – Fact alert! MBA is about networking. While in school or college we may have some preferences. There might have been some specific set of people you wanted to talk to or be friends with. B schools are different place altogether. In MBA it is better to get in touch with as many as people you can. For good off course. Make good and friendly relations with people. Help people, make social groups and discuss what is going around. Share knowledge and learn from things. These people will definitely help you in many things in the long run. For example referring you for job in companies, helping you to adjust in new cities, getting you business and what not.

It is also recommended to you to be hyper active on social media sites specially LinkedIn. In many cases companies look for online profiles of candidates for various reasons. Make a strong network of people. Connect with them and join online forums and groups. It will surely help you in future. Take it up very positively.

Avoiding making mistakes – We are humans and we are allowed to make mistakes. Accept this fact. If you don’t make mistakes your probability of learning will be less. You can always learn from your mistakes and that is the key.

Perfect grades, perfect job and perfect salary can be a dream but trust me it is very important to learn to accept the mistakes you have made. Don’t avoid making mistakes, they may happen. Worrying over the consequences of making mistakes will confine you from exploring your own limits and boundaries. Sometimes making mistakes are important to know what is better. It doesn’t off course mean to make them intentionally.

As I had earlier stated MBA is a life defining career and if you choose this path you have to live with all the pros and cons. You will experience many ups and downs but it is up to you to make better decisions. Give proper though to each important action you take so you don’t regret them later in your life.

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

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

Endless Opportunities With Finance

Posted on April 7, 2015 by IBS India

I have been working in finance for quite some time now and regularly get inquires from the young ones seeking advice on how to break into this field. Trust me, I was never a finance person but today I think that If I can do it, you can too…

I have always been interested in a great many things – not just Finance, Film, logic, marketing, law, music, theatre etc. What made Finance so fascinating to me is how it crosses over so many of the disciplines.

To put this simply – How to break and succeed in finance-

Work harder than everybody else
Create something of value that others want
Be multitalented
Develop a specialty
Learn from people of same field
Read voraciously. Develop library
Be prepared for the opportunities
Excellent academic record
At last – LUCK

Remember, a career in finance is not just about money, but its close. Earning a degree is just the beginning. Real challenge begins, when choices needs to be done amongst the best available options. Analyzing which industry has the best to offer and dearth of new professionals.

Finance Industry is multi – faceted, offering a variety of positions catering to a number of different skills and interests. The key to individual success is to research, locate and land into the job which has the greatest compatibility with your skills and interests. Here are some common paths with finance service sector:

Corporate Finance : It involves working for a company in the capacity of finding and managing the capital necessary to run the enterprise. This is done while maximizing corporate value and reducing financial risk. It involves:
1. Setting up company’s overall financial strategy
2. Forecasting profits and losses
3. Negotiating lines of credit
4. Coordinating with auditors
5. Mergers and acquisitions
6. Roles offered: Treasurers, Financial analysts and internal auditors.

Commercial Banking : These local institutions offer a range of financial services, from checking and savings account to returns and loans. Career options available in this sector include bank tellers, loan officers, operations, marketing and branch managers. Talented professional s can get promoted from branch jobs to corporate offices. This kind of promotions gives exposure to international finance.
Investment Banking : Some of the most intense and glamorous financial careers are jobs in investment banking. It deals with facilitating the issuance of corporate securities and making these securities available for investors to purchase, all while trading securities and providing advice to both corporate and investors. Investment banking has a number of different divisions and groups with different objectives and responsibilities. Working in investment banking firm would help you to interact with issues of securities, mergers and acquisitions, professionals and traders who trade stocks, bonds and other securities.
Hedge funds : These are private unregulated investments whose managers can buy or sell a wide array of assets and financial products. Since these funds also surrounds around such kinds of entity, the jobs offered and also somewhat Glamorous. Some typical hedge fund jobs are:
1. Financial Analysts
2. Trader
3. Compliance officer
4. Marketing manager
5. Portfolio manager
6. Quantitative analyst

Private equity and venture Capital : These professional help business to find capital for both expansions and current operations. Venture capital professional mostly spend their time with the strategists and small and fast growing companies. They evaluate pitches by founders and small company leaders to determine if the firm will make an investment – referred as” venture capitalists”. The hope of the VC’s is that the small business in which they are investing will one day go public, where the failure rate is high and the rewards when realized, are huge.
Financial planning : These job profilers are known as financial planners and help develop individual plans that will ensure their present and future financial stability. These people generate an appropriate plan for savings and investments that meet client’s needs.
Insurance : These individuals help anticipate potential risks and protect them from loses. These jobs are with large insurance companies where you start your career as a sales representative or a customer service representative or as an actuary.
Public accounting : It is broad field. These help business and individuals keep track of their finance using GAAP. These record business transactions, prepare financial statements, audit financial records, prepare IT returns and provide consultancy. New hires start as a staff accountant, then audit managers, and then tax managers and so on and so forth.

Financial jobs exist almost in every company and in every industry. It is always wise to consider the direction of the market before seeking a financial job. To effectively pursue jobs with high possibility of success, one must measure the demand of the position. Different finance jobs needs different skill set as discussed above. So, its best to select one that aligns with your long-term interests and abilities.

The Finance industry has long histories of attracting energetic and ambitious people who are looking for the best career opportunities. Some of the few significant selling points for prospective employees are:

Compensation
Career Advancements
Bureaucracy
Pace

The Finance industry is noted for its compensation Structures, which is much more generous than other sectors of the economy. Also, Compared to other industries, the finance industry tend to place less weight on seniority in judging the readiness of employees for advancement. High Performers can move ahead regardless of age, experience, making this industry particularly attractive for ambitious young people.

For an idea of how a career in financial services can be either a destination in life or a launching pad for high achievements in other fields, read about these people:

Mike Bloomberg – Wall Street – Systems guru to media mogul to mayor
Jim Cramer – From money manager to financial TV Star
Wayne Rogers – From Actor to money manager

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

Ready reckoner for Personal Interview (from Alumni)

Posted on April 6, 2015 by IBS India

In the first place, I’ll advice you to remain calm; PI is not a platform for ragging prospective students, rather it’s a means to test your aptitude and inclination towards the subject. Ideally, on the day of interview (and even otherwise), you should start at 6:00am. Take a shower, dress professionally (reserve your vibrant colors, tight fitted clothes and chunky accessories for evening party). Tie your hair neatly with a band (applicable to all girls and those boys who maintain a long hair style). Clean your nail, polish your shoes and carry a well organized bag/ folder for keeping your personal belonging safe and handy. Remember to put your phone on silent mode. You should definitely have a good breakfast and catch up with all headlines in the morning newspaper. Start early to be able to reach the venue on time (rather 5 minutes before).

Secondly, remember that interviewers love those who are genius and respect those who are genuine. As students, you are and not expected to know-it-all; so remember that honesty is the best policy. Here are a few commonly asked questions:

Tell us something about yourself:

This is one of the most common questions you will come across while appearing for an interview (be it the MBA, or for a job or perhaps when you go for a matrimony meeting). Interviewers ask this question for different reasons – to test your communication skills, gauge your confidence, study your eye movement and body language, check the clarity of your thoughts and perhaps make a strategy to ask next few questions. I have come across many candidates who have a well structured response to this question and a few candidates who start thinking at that time. Think of those days when you rehearsed the ‘Jack and Jill’ several times to give your first stage performance; don’t hesitate to do the same now! Write your response and keep reading it over and over to be able to present yourself well. You may like to include your name, your qualification, your family background and your interests.

What are your Strengths and Weaknesses:

This is the second most favorite of interviewers. Give a genuine response; especially, don’t fake a weakness (no one is perfect). You may like to give an example of how you have used your strength in the recent times to achieve an objective or how your weakness has taught you a life lesson. You should be ready with a plan of action to work on your weakness and fix it soon.

What are your short-term and long-term objectives or Where do you see yourself 5 years and 15 years from now:

Don’t try to give the witty response, “In your seat, Sir”… this is outdated! Don’t tell them as a Manager or General Manager or Vice President; the interviewer knows the corporate hierarchy better! Talk about the work you would be doing; for instance – “Advertising is the area of my interest; after five years I see myself working in an advertising firm and conceptualizing print media advertisements.”

Why MBA? or Why MBA from this B-school? and Why this particular niche Program?:

“My father asked me to do so”. “There is good scope and I’ll get a good package”. “I always wanted to earn a post graduate degree”. “It’s the trend; everyone is pursuing MBA today”. These are definitely not the kind of responses that the interviewer wants to listen! If you are a fresh graduate, you can talk about how a MBA can better prepare you to take up corporate responsibilities. Now there is no harm in adding that it will also improve your monetary position. If you have work experience, you can talk about an incident that triggered your decision. You should read the history and credentials of the B-school where you have applied to and if you have applied to a niche specialization, make sure you have studied the program brochure well. I had once asked a prospective student, “You have applied for eBusiness; what do you think it’s all about?” She replied Empowerment in Business; being a girl I need to be empowered and madam you are such a fine example of woman empowerment! I almost fainted!

Questions from your graduate level program:

If you are an engineer, you may come across a few questions around capacitors and diodes or perhaps your final year project work. Aha, damn… you were never in love with machines and hence you’re pursuing MBA… But these questions still seem to haunt you! Relax, be honest and explain your point. You may like to tell the interviewer to test your interests and your knowledge in the program you wish to pursue. Those who have done B.Com or BBA are perhaps a bit luckier! Really??? I was interviewing a prospective student who had completed his BBA. I asked him about his final year project; he said that he had submitted a project on ‘Setting up a chain of Spa for Dogs’. My first question was, “Had you estimated your market size?” He replied, “Oh yes ma’am, about 80% of urban population owns a pet.” I was still thinking which country he was talking about and there the young man clarifies, “Ma’m you go to the Juhu Beach and you’ll find every second person has a dog!” After he left the room, my co-interviewer said, “Did this young man include spouses of all those married in his category of ‘pets’?” Moral of the story is, “Do brush up theory from your graduate level program and final year project.”

Do you read a newspaper? or What headline spotted your attention today?:

The interviewer is checking your knowledge on current affair and general awareness. Many students say that they skipped reading news as they had to reach the venue early. Interviewers will then throw up questions like – What was major news in this week or in this month? What is India’s GDP? Name three CMs who are women? Who is the Home Minister of India? What’s the latest on the FDI in retail? Which company lately announced an IPO? and so on… This year election could be a hot theme! So do read newspapers and keep yourself informed on what’s latest!

What are your hobbies and interests? or Do you like reading books?:

Most interviewers wish to understand whether you pursue an interest and if you do so, how deep is your involvement. Most coaching classes have made students believe that the only correct answer to this question is, “reading”. Don’t get in to this trap; the next question will be – which books have you read, who have authored them, who are other authors you admire, what’s the synopsis and so on… On the contrary, your hobby could be painting, travel, music, dancing etc. But once again be cautious; your interest can’t be shallow – you can’t say, “Music is my hobby, I love listening to Bollywood music.” If you say travelling is your hobby, you should keep a list of places you visited on top of mind and also what’s striking about that place and its culture! One of my co-interviewers had asked a girl to show the various mudras of Bharatnatyam. So when you talk about something being your hobby/ interest, make sure you are involved deeply!

Who inspires you? or Who is your role model? or What’s the difference between a leader and a manager?:

These questions tests your definition of success; some interviewers are also trying to test your ethics and values. Your response could be any corporate tycoon; alternatively you could name someone you know closely. Provide a good justification for your choice. Last but not the least; do read the difference between a leader and a manager before you sit through any interview.

How would you handle a situation? or What is a solution you recommend to a particular problem?:

At times an interviewer may throw up a commonly faced real-life problem and ask you to provide a solution. This could be to test your decision making ability or ability to work in a team or understanding your managerial style. Try to be honest and give a rational reason for your recommendation.

To summarize, your goal clarity, domain knowledge, general awareness and communication skills are being assessed. Be confident, stay calm and respond honestly. Wish you best luck!

Contributed by Suchin Kulshrestha, (Class of 2008, IBS Hyderabad)

ICFAI Business School Blog

Author Archives: IBS India

Why i could not make it and less deserving did?

Sweating It Out For A Dream Job

Five Management Lessons from Mahabharata for MBA Grads

Top 5 Reasons why All MBAs are Not Successful Managers

The Illusion

Why MBA?

The Three Mistakes During And After An MBA

5 wrong decisions taken during your MBA which you may regret after 10 years

Endless Opportunities With Finance

Ready reckoner for Personal Interview (from Alumni)