Author Archives: IBS India

What to do when you know nothing about the topic in a group discussion

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No one in this planet is born as an encyclopedia. No matter how much you read, there are certain times when you stumble upon a conversation, where you know nothing about the topic and if that conversation happens to be a group discussion then the chances of your stress level going rocket high increases manifold.

Now since I have had the opportunity of sitting in nearly a hundred GD’s, I thought of sharing some points which I found to be effective when you have no idea of the topic. Again, this is just my personal judgment and not based on any statistics.

Listen attentively – It is a very common misconception that if you do not speak during the first half of your discussion then your chances of cracking a group discussion diminishes. You can contribute at any time during a discussion and if your point is relevant and if you deliver it appropriately then your chance of cracking a GD is as good as anyone else’s. Listen very attentively to what others are saying and try to understand what the topic is all about. Take 2-3 minutes to understand.

Project Confidence – It is very important for you to seem confident while you are sitting in a group discussion. Sometimes facial expression and body gestures bring out the truth, which people want to hide. Don’t panic if you don’t know anything. Be calm and confident during the entire discussion

Try to find a similar topic from discussion – The best part of a discussion is that sometimes you can divert the topic of discussion to a related topic. Try to find a topic from the discussion, using which you can steer away the discussion to something you know. For example if the topic is hockey, u can steer it to cricket. The key is to find the right opportunity. It may not be as effective but it is always better to speak something.

If not discussion, give a good summary – Summary is the most important stage of any group discussion. Sometimes invigilators judge a candidate only on the basis of the summary given by him. When you don’t know anything in a discussion, note down each and every point that has been discussed and give a good thorough summary. Many times invigilators ask every student to give a two minute summary, but if this is not the case, don’t lose the opportunity of summarizing the discussion. Keep track of the time as most of the students forget to do it as soon as they get into discussion and jump into the discussion when last two minutes are left. Try to speak for the entire time interval so that nobody can counter attack your summary with theirs.

Repeat someone else’s point  – This is not a very effective method, but try to find someone whose point was neglected in discussion and use it as your entry in discussion. The reason why a point gets neglected in a discussion is when the person who said it is not confidant enough and let another person cut him in the middle, or a point has absolutely no relevance. You have to find the former reason. Repeat the same point, but this time with assertiveness, as if it is the most important point.

Make friends, not enemies – This means try to agree with people and not disagree. If you will disagree you will have to come up with a whole new example which you will not know as you don’t know about the topic but if you are agreeing you will just have to add a small point to their example.

Manage the discussion – In a group discussion there are many parameters on the basis of which a candidate is judged. Leadership quality is one of them. When nothing is working, try to show your leadership skills. Regulate the discussion in an appropriate way, so that invigilators can check your dominance and assertiveness. There was a group discussion, which I remember, where the topic was “there is no good way of doing a bad thing”. I remember everyone speaking without relevance when one guy swooped in and started managing. All he did was to say things like “guys let us not make this a fish market”, “I think we should let everyone speak starting in a clockwise manner”, “I think we are diverting from topic, let us get back to the point where we were discussing about…” When the results came he got through and I didn’t. Jibber Jabber does not work in a group discussion. Whatever you say, say it with assertiveness.

So these were few tips on how to manage a group discussion when you know nothing about the topic. However, it’s always better to be well-versed in current affairs and news to avoid being in such a situation. Hope this article will prove to be advantageous to you.

Contributed by Prachi Tewari ( Class of 2013, IBS HYDERABAD )

Expiry date on your bank notes!

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The other day, to my surprise, the bus conductor refused to accept my 100 rupee note saying something about a missing year. To my relief, my usual veggie seller promptly accepted it, unaware RBI’s notice of withdrawal of pre 2005 currency. He could at most keep it till March 31, 2014 the date till which it will be acceptable. Holding on to it beyond July 1, 2014 would have him  go marching to his bank branch (assuming he has an account), waiting  in long queues to  exchange it  for a new note, one which was issued after 2005, with better security features, reducing possibility of counterfeit. Little is he aware that if he possesses more than ten pieces of such 500 and 1000 notes, he is expected to possess address and identity proof and submit it to the bank, and thus get his dues. Vegetable wholesellers from whom he buys too would be lucky to find a nearby rural branch adequately staffed and also stocked with new notes. After all, banks have been known to face shortage of staff to deal with huge walk-ins resulting in long queues. Further, the limited number of branches in rural and semi-urban areas will perpetuate the problem.

Similar could be the fate of India’s massive underground network of financial couriers  (Angarias), who are estimated to conduct over Rs. 1,000 crore a day in undocumented cash transactions. It will also hit the illiterate sections and those ignorant of the change. The withdrawal of pre-2005 currency although acceptable for legal tender will create panic among its users. No wonder the aware and literate bus conductor was so mindful! Property dealers, gold sellers and other hoarders of cash would be exchanging their currency through dealers inorder to avoid becoming accountable for huge cash transactions. So, welcome the class the dealers, once again!

The step taken by RBI is in view of the rising problem of fake notes being detected in the system and reducing the possibility of counterfeiting. Funding of terror networks with fake currency and triggering of inflation needs to be definitely taken care of. The move was also in response to 2 lakh fake notes worth 10.14 crore recovered in August 2013. Central banks, the world over, periodically phase out old currency and introduce ones with better security features. At least seven countries, Australia being the first, have switched over to polymer notes which are made from a thin, transparent and flexible film made of polypropylene. The life of such notes is 2.5 times longer than paper banknotes. Bank of England would be issuing such notes from 2016 and RBI seems to be taking baby steps towards it. We only wish that banks are able to handle this pressure and ensure a smooth journey for the common man.

Contributed by Prof.Mani Govil (Faculty, IBS Mumbai)

Common Personal Interview Questions Asked in B-Schools

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The personal interview (PI) is a very important step towards getting admission to an MBA program in a top B-school.Therefore it is very important for MBA aspirants to take it seriously in every aspect. MBA institutes aim to judge the candidates’ future goals, thinking process, knowledge, personality traits, and communication skills with the help of a personal interview round, a part of the admission process.

The personal interview offers a good way to sell yourself effectively in front of the interview panel. While many MBA aspirants would feel nervous or get intimidated before the interview, it presents a good opportunity to express your academic credentials and future goals in a confident manner. For some aspirants, it may even be the first interview of their life and despite months of preparation, it is impossible to predict the questions that may be asked. In such situations, it is advised that they try to enjoy their interview and take it as an opportunity to impress the panelists.

Most of the questions asked in a B-school interview range from academic and professional to the more broad discussions pertaining to life. The interviewer might not sound too serious and formal, but he has the job of assessing you on parameters such as your inter-personal and communicative skills and to know your vision as an MBA aspirant. Remember that you are not expected to know everything during the interview as the panel is well aware that you are just a student at this stage. So, be honest and accept that you don’t know a certain things if that be the case.

Objective of the Personal Interview

The personal interview aims to evaluate the views and information presented in the candidates’ application and performance in the previous rounds of the admission process. Some common questions pertaining to academic background, work experience (if any) and general knowledge are asked in order to evaluate the accuracy, depth and consistency of the candidate’s knowledge. B-schools tend to give importance to candidates, who have consistently performed well in their academics. This shows that these candidates possess academic discipline, focus and character to survive the testing times of the corporate sector.

Almost all the questions asked in a personal interview help evaluate the applicants’:

  • Clarity of the Goal
  • Knowledge
  • Communication Skills
  • Attitude

Let’s have a look at some of the most common questions asked in interviews for admission to B-school of your choice.

Tell us something about yourself or introduce yourself

Perhaps the first question at every interview, this is the one that you must be prepared for. The only question which has a sure shot predictability, you should be able to answer it in a structured, confident, and crisp manner. Your answer to this question will shape the way the interview progresses as whatever you chose to highlight will be the basis for the next few questions. MBA aspirants should have a clear, well thought out and perhaps even well-rehearsed response to this question. You can include your personal details, professional qualification and work experience (if any), hobbies and interests, and your strengths.

The purpose of being there for the MBA program?Or Why MBA?

The answer to this question has to be tailor made to be able to justify your argument. According to a person’s background and interests, the answer will have to be molded to reasonably prove the version that he is giving out. Answers such as “to make more money”, “to gain more knowledge” are too abstract for this question. Talk about your career objectives & the value-addition that an MBA would provide you with.

For freshers, a suitable answer could be “to find a way to get into the corporate world to prove my capabilities” but for candidates who have some work experience, the answer should explain specifically what made them think of pursuing the course. You can tell them about your plans to switch industries or look out for growth within the same domain.

What are your strengths & weaknesses?

The answer to this question can be tricky as you would be judged on every word that you utter and in that case, you could be tempted to try to outsmart the panel members. Remember as a rule that it is just not possible to do that so, be honest and genuine in accepting your weaknesses and showing that you are making efforts to overcome them. This can indicate that you want to improve that aspect of your personality and are open to feedback. Do not be too boastful about your strengths and at the same time, do not show that your weaknesses are way too little to be bothered about.

Why do you want to join this B-school?

As an answer to this question, you should be able to reason your willingness and potential to be where you’re applying for. This is your chance to tell them all that you have researched about the history of the institute, placement records, their flag ship programs, their ranking, credentials, faculty, academic and extra-curricular activities. Try and get in touch with students of the college to know these details that are not highlighted on the website to show that you have done your homework well. If possible, try to know about the faculty and the style of teaching to express interest in the institute.

Where do you see yourself 5/10 years from now? Or What are your short/long term objectives?

This is another tricky question, the answer to which should not be “in your position interviewing prospective students”. You are expected to be able to answer in a manner that you justify the reason why you want to do MBA. If you have applied for an MBA in marketing, you cannot even think of sitting and interviewing students few years down the line. Also, do not give out vague answers such as “as a Vice president/ CEO”. Instead, talk of specific work that you would want to see yourself doing at that point of time. For example, an HR professional can see herself devising and implementing HR policies that help maintain the work life balance of the employees of her company. Be specific and be work oriented when answering this question.

Questions from the subject of your graduation

It is not wise on your part if you assume that there will not be any panel member with knowledge of your subjects of graduation. Revise your lessons well, even if you have some work experience because chances are that you are tested on your basic knowledge of the subject matter to justify your good grades. A thorough knowledge of your subject will immediately earn you a high position in the eyes of the interviewers and help you create a positive impression in their minds.

Questions about your hobbies or what do you like to do in your free time?

Make sure that you have thought about an answer to this question and researched about the hobby to the extent that you are able to answer primary questions about it. For example, if you like to watch films in your free time, you should be able to answer things about the direction and storyline of your favorite movies, questions about your favorite genre and specific details about the recent award functions related to movies. You cannot simply get away by saying anything that comes to your mind at that moment. You are expected to have a thorough knowledge about what you say is your passion.

Who or what inspires you?

The answer to this one has to be supported by the reason why you look up to that person. The simple reason why interviewers ask such a question is that they want to know your ethics and values and if they are in line with the personality you are portraying at the interview. You cannot say that you are a great supporter of Mahatma Gandhi and non-violence earlier in the interview and then go on to state that Shaheed Bhagat Singh is your role model. Your role model or the person who inspires you does not necessarily have to be a famous figure; it could even be your family members or a former teacher. It is more important to justify the reason why you think that person is good.

While these are some of the most popular question at MBA interviews, you should understand that the interviewers can ask you totally different questions. Each interview is unique and so are candidates sitting for the interview. So, it is your smartness as to how you can be in a position to drive the interview in a direction favorable for you to be able to highlight your strengths. Prepare well and ask your friends and teachers to help you by conducting various mock interviews before you go for the actual one. All the best!

Careers where MBA helps you Sustain & Grow

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When we dig deep into the minds of students and the aspiring candidates for master’s education, we found a lot of confusion about career options and how they link it to the growth paths of those careers. Many also ponder about this issue as students from almost all of the disciplines are pursuing a management degree/program.

Ten years back, among those who were pursuing management course, arts and fashion students were taken as shockers. Back then the most popular career paths were medicine & engineering. MBA was an emergent career stream and people were opening towards the professional careers.  Within a decade, it became a preferred program for higher studies and slowly it was seen as a fad.

But there remains so much of confusion about it. And before we get on to the careers where MBA helps an individual in growth & sustenance it is important to learn why & how a management degree brings the difference.

The single reason is that MBA is not a classic degree with lot of lectures and one examination. It is a program which is equally backed with theoretical and practical knowledge. It has forever been positioned as one which prepares a candidate for the corporate world. Helps one practice the challenges, understand the cultural differences and teaches a lot about group dynamics.

An MBA Program certainly helps a student in putting up the Thinking Caps. It broadens the horizons and helps in thinking with a wider perspective. Also, the management programs are designed in such a way that it provides overall understanding of the industry, job, consumer behaviors, finances etc – it touches all the chords of corporate lives and business. And that is how it helps one attain the credentials which are valuable and useful in different areas of business. It also helps them in learning cross-functional management.

Before we explore the careers where MBA works as an accelerator, less at have a glance at the skill-sets which one attains in a management program and which are useful in almost every chore of work & life. To list a few:

  • Team Skills
  • Personal Grooming
  • Business Learning & Career Counseling
  • Real time exposure- to businesses & markets
  • General Management
  • Analytical Ability
  • Presentation & Soft-skills

Lately it is been recognized that management education helps in almost all the streams of business across functions – be it finance, marketing, consumers or people. If we talk about the Careers where MBA helps in growth there will be several, so we will talk in relevance to the industry segments & job profiles.

Global Exposure:

A Management Program is developed with a global perspective of how business work worldwide. The pedagogy of an MBA programs offers to polish & improvise the skill-set of an individual. The good b-schools do not limit the exposure opportunities but in fact those are made a part of the program itself through the assignments and internships.  There are many universities & B-schools which offer Exchange Programs as a part of the 2 year program.

Globally an MBA helps in careers like Investment Banking, Travel & Tourism Management, Fashion and Hospitality as well.

Growth Perspective:

MBA Program also helps the working executives in planning a growth path for their existing careers. Many a times, qualifications are set as benchmarks for certain professional positions – be it the private or the government sector. MBA opens the doors for study and growth for those who for some reason couldn’t complete the masters program in life which is very much a requisite for certain promotions & positions.

A Management degree brings lot of hope for such candidates. The Executive MBA Programs are now offered in convenient course structures. There are evening classes, online classes, weekly classes and what not. All this makes studying again lot easier and in turn happy learners.

Majorly this could be seen in Government Sectors, In Education and those who are into lifestyle oriented businesses – like fashion, beauty, art etc – where is talent is already available but a management programs helps with the business cap.

Entrepreneurial Skill-set:

There is a lot of debate about whether an MBA helps in entrepreneurship or not. One school of thought says it is not but most of them believe that MBA has got the right ingredients which help one think wider with a vision. It gives way to analytical thinking and consumer perspective and that in turn helps in development of entrepreneurial skill-set.

The Case Methodology @ IBS bring up the real time business stories, subjects like business strategy coupled with group studies and class discussions all work as the value addition. Apart from the practical knowledge based curriculum, a management program equips the candidates with life & behavioral skill sets which are for a lifetime. Leadership, Negotiations, Communication skills are all the soft-skills which are forever required and help in all the careers.

The Executive Programs offered now a days, help the working professionals is attaining further education and add value to their qualifications and skill-sets. These programs are designed keeping the job hours in mind so that the class schedules are convenient.  Be it the regular MBA or the executive programs – these also help the learners thin in lines of their dreams by giving the practical exposure and how they could be turned into reality.

MBA fosters the very idea of Parallel path and that is why today we see lot of entrepreneurial ventures been coming out of the passion or hobby which one wanted to pursue.

To conclude, here is a smart advice, you will find so many programs, online courses which promise the similar kind of learning experience like a regular MBA Program. Beware of the courses –as there is absolutely no match of a regular management degree from a B-school. The approach, the faculties, the assignments and projects – everything real time is way different from those sessions and test we do online. Also a B-school atmosphere teaches a lot about cross-cultural functioning, networking and real-time learning with live problems and live solutions.

Lastly, an MBA certainly accelerates your career – be it any but before you go for it you must think about the happiness quotient and not just the hefty salary packages and urbane lifestyle. People usually assume this as a ticket to metro’s and abroad but the purpose shall be happiness and work satisfaction which one shall derive from this education.

How to Prepare for MBA Selection Process

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If you have decided to pursue the post-graduate program in management, your next stage will be to gear up for the selection process for admission to a B-school of your choice. Before starting off with the preparations, you must understand the selection or admission process and the right approach needed to taste success in these competitive entrance examinations.

The selection process to get admission to a top-notch business school involves the test of your attitude, aptitude, time management skills,and knowledge—academic as well as general.Generally, all the b-schools follow the three-step process starting with written test, followed by a group discussion, and concluding with a personal interview to assess the attributes such as analytical and communication skills.

This post will help you achieve a detailed understanding of the different stages involved in the selection process,to help you secure admission to the desired two-year management program.A written test, the first step in the selection process, marks the first stage of elimination and is a test of your abilities to complete tasks under pressure and timelines.This is the most crucial stage in making it to a high-ranked business school as the elimination ratio is quite high at this stage. The written test comprises of different sections aimed at testing your aptitude and responsiveness.It features:

  • questions from mathematics that you have studied till tenth standard to test your accuracy within time constraints,
  • a section on English language that checks your skills of comprehending a passage, extracting the relevant information from it,and your command over English vocabulary,
  • a section on reasoning which includes analytical and logical reasoning to gauge your analytical and problem solving competencies,
  • questions that need to be answered using the data provided to test your data interpretation skills, and
  • a section on general knowledge to test your awareness about the latest happenings of the world.

To be successful in the test, you need to have the right mix of speed and accuracy as well as good time management skills to be able to attempt all sections of the question paper within the stipulated time frame. During the course of your preparation, you can take mock tests offered by several coaching classes and websites to measure your performance periodically. It will help you identify upon your weak areas and analyze your performance in various sections thereby equipping you with a knack of solving questions within the specified period.

Once you are through with the written test, the next step,which also forms the core of the selection process,is the group discussion stage. During the group discussion, you will be asked to participate in a discussion with other aspirants. The topic of discussion could be from a wide range of subjects such as current affairs, business news, politics, social issues or any popular topic. This is a formal discussion intended to bring your inherent attributes such as leadership quality and convincing skills to the fore,as well as test your knowledge, with respect to the latest developments in different spheres at national and international levels.Your performance in the group discussion reflectsthe following key attributes among others:

  • confidence level
  • team-spirit
  • leadership skills
  • awareness
  • intelligence quotient (IQ)
  • emotional quotient (EQ)
  • assertiveness
  • receptiveness
  • ability to see different perspectives

One of the best ways to prepare for the group discussion stage is to form a group and have mock discussions on a diverse range of topics from academics as well as current happenings in the political, economic, scientific and social spheres.Mock group discussions will help you perceive a given scenario from different perspectives, lending you an in-depth understanding of the subject, thus widening your perceptions about the number of ways the issues can be seen and addressed.

After the group discussion, the final stage in the selection process is facing the personal interview. In the personal interview, the focus may be largely on questions related to your goals and aspirations in life and how the MBA program will help you accomplish your dreams, apart from the generic questions.The interviewers may even put up questions from topics not relevant to your course of study such as your leisurely pursuits, which implies that they are assessing your personality and not just your knowledge and skills.

Facing an interview without proper preparation can spoil all your effortssince this could be the most critical stage towards fulfilment of your career aspirations. Hence, this involves conscious preparation from your end to be successful at this stage, to help you stand out among other contenders.Participating in mock interviews with the peer group will help you a lot in developing self-confidence, and regular practice will give you an understanding on how to articulate your answers and responses in a way that you do not sound too mundane and monotonous.

Your composure and articulation during the personal interview round will speak for your preparation and forethought, leaving a positive impression on the interviewers. Sometimes, the first impression that you leave on the interviewers makes all the difference and is enough to clear the final hurdle on your endeavour to get into a B-school of your choice. Another aspect that you need to focus upon is your personality and body language, which speaks volumes about your attitude in general. Having a confident body language with a pleasant countenance makes a good combination to create a lasting impression.

Some business schools also include micro presentations as a part of the selection process to test the presentation skills of the aspirants. Presentations are meant to analyze the knowledge, preparation, confidence, public speaking skills, and convincing ability of the aspirants before their selection for the MBA program.

So, you can now understand that the objective of various stages entailed in the selection process is to test your cognitive abilities as well as the different aspects of your personality. This means that making it to a good business school will require rigorous preparation on your part with equal emphasis on all the aspects evaluated in the selection process. Hard work and preparation always pay, so the only trick is to go fully prepared.

MBA or the short term skill based Professional Courses

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With the recession and the dropping economy, most of the students and the parents developed apprehensions about joining a management program. Also, with the boom in the education sector, we saw emergence of several institutes, coaching, and universities developing everyday with new range of courses.

Thanks to the Reality TV, even the professional courses got a jump and the Indian population suddenly started looking at the professional courses which were about hobbies and passion. People could relate to them as careers as they too started offering good money and constant workflow.

We see a lot of students and the parents – who have this dilemma of why an MBA holds better prospects than the professional courses when they are offering quicker placements, are charging lesser fee and are comparatively short-term. The comparisons are fine but they are not futuristic. Most of the times – the packaging of these courses is so fine & perfect that they the students give-in to the outwardly glamour of the offering.

We do not say that the professional courses do not good. They are good, they add value to one’s career, they help in earning a living and they shall be pursued. But this comparison is not fair as MBA is something which empowers one to excel further in their careers. It is not just about education and knowledge; it is about attitudes and practice. It is about experiential learning through real time examples, trainings and assignments.

MBA is a level up to these courses. It broadens the horizon of a human brain and helps them think different and teaches us how to chase the different dream and go ahead to follow it.

So what is it that makes an MBA a better deal? Or why it is important to have a business education in any career? To list a few reasons –

Holistic Outlook towards Business

MBA education covers a holistic perspective of business & economy. The course is designed in such a way that it provides you with an overall view of things, businesses and people. The limitations of knowing just thing vanishes in an MBA program as it makes the person learn with a wider perspective, it enables a group dynamics and hence helps the students get a broader insight about people and practices.

Provides Better Networking Ability & Opportunities

In management education, like we mentioned lot of learning happens through practice, through working together and thorough exposure of the outside world is a need for successfully completing the management education.

For me, B-School is where you meet people — your classmates, faculty, speakers, recruiters. MBA fosters the need to be well networked in the students who pursue this course. It enables a person to learn in team and enhances the group productivity. Unlike short term courses it enables – better sharing of knowledge and tactics among the student groups.

If I give a thought to the networking opportunities an average student at IBS gets in an MBA Program, there are lots. Initiating right from the day one of joining, a student not only meets the batch mates and the teachers but also gets to connect to various other B-school students & corporate in the management festivals, the corporate exposure during the Summer Internship and the Management Research Project further facilitate the students in networking.  Then there is the largest Alumni base – which is an existing network for all those who join the bandwagon.

Allows you to work in more than One Sector

The Corporate sector now demands people who believe in becoming the ‘Jack of all trades and master of few’, gone are the times when just one qualification/ specialization was enough to work, excel and grow. Times have changed and so are the recruiters and employers.

An MBA Program allows you to work in more than one sector. Some B-schools including IBS offers dual specialization to help the students excel in two different profiles. Even the job roles these days demand a variety on skills & knowledge. A multi-talented person is always preferred in a group, among friends and even for a job.

Offers Practical Guidance & Mentoring

Mentoring is a unique concept of b-schools. No other courses, degrees offer you a faculty guide and project mentors and that restricts the personal growth and change in attitude which is required at the onset of corporate lives or jobs.

An MBA programs offers you faculty guides, corporate mentors who provide the required hand-holding at various junctures of learning & training and this we believe are one of the most significant shaping stones for any student or trainee. Whereas, most of the professional courses, students are left on their own – with the lecture-listener-examiner relationship.

New Skills, Better Growth and Packages

A management program helps students attain & develop many new skills during the program. Let us take an example of a management festival or an art conclave; the students who participate learn new skills while managing the show. The team who works on sponsorship – learns to manage finance & relationships, some learn hospitality, others learn team management and some learn leadership.

These skill-sets help the students in growing early as they are exposed to certain situations, they have worked before in teams and hence they know about it.

A good b-school ensures they work on this overall learning pedagogy and hence the students get better packages as they truly deserve it.

Helps in Entrepreneurship

In the above points, we have talked about – how an MBA changes the perspective, the personality and the skill-set of a person. It broadens the horizon and hence makes then think about the business perspective. It develops a thought process which is led by logic and the students are empowered enough to get into the technical know-how of things to understand them.

IBS has got an exciting base of alumni who are now entrepreneurs and to continue the trend, there is an Exclusive Entrepreneurship Cell which allows the students to dream big and help them in turning their dreams into reality.

The reasons slated above are few of many but are all time-tested. Any knowledge or skill attained helps the growth of an individual but when you have to choose something better; MBA certainly offers the brownie points.

“There are no second chances” – Tips to make a good first impression at your interview

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The usual process of selection in an MBA program involves a written test followed by a group discussion and the personal interview rounds. While the personal interview is just one of the stages in the selection process, it can be the most important one, carrying the highest weightage in your overall performance expectations.

Your success in an interview depends on how well you respond to questions and drive the interview in a direction where you get to highlight your best skills. This is the only round in the selection procedure where your success isn’t affected by other participants and you can create a unique and effective impact on the panel members.

While we all know that life may not give us second chances all the time, a few tips can be helpful to make a good first impression at your interview for selection to the MBA program at the B-school of your choice. Let us have a look at some of the proven formulas for success in the personal interviews.

Dress right for the interview: This can give you an edge above the other candidates as your interviewers will in all probability see you before they hear you.So, knowing what to wear in an interview can help you strike a chord with the interviewing panel even before you’ve even introduced yourself. For girls, the advice is to avoid heavy perfume, makeup, and jewelry on interviews. Boys should preferably go with a clean-shaven look, short hair, and polished shoes. Both girls and boys should dress up in proper, neat and ironed business suits.

Show up on time: Reaching the venue late can be bad for the first impression,showing that you did not take enough pains to make it on time. If possible, you must try to time your travel to the venue from your place of stay, at least a day in advance just so that nothing goes wrong on the final day. Keep extra time for unforeseen delays such as traffic jams in your planning.

Perform a last minute check: It is good to have a look at yourself in the mirror before you enter for the interview for that tie knot that just might not be right. Make sure that your phone is switched off and put away in your pocket or bag. Carry only the essential certificates and degrees and have those ready neat, organized, and accessible.

Enter the room confidently and offer a firm handshake: For most of the students, this is the first interview of their lives. So, it is absolutely normal to be nervous before the interview. However, stay calm to avoid fumbling while you speak and maintain composure to look confident. Reinstate that with a firm handshake to look more convincing.

Check your smile: Be nice to everyone you meet right from the interview coordinators up to the senior-level executives. Remember, everyone’s opinion counts. Some interviewers even make it a point to check how you behaved with the front desk people when you entered the B-school to find out about your overall personality.

Know yourself, prepare well: From the long-term preparation involving your education and personal background to studying about the potential B-school and its culture, make sure you have precise information about the particulars of your records, about the B-school you are attending the interview for and the current happenings across the world. Follow news on TV and newspapers till the morning of interview day. You never know what could be a point for discussion in the interview.

Show interest: Even if you have gone for the interview to some B-school, which is not your primary choice for pursuing the MBA program, show your interest to the interview panel. So, when someone from the interviewers asks you “Why are you here at this B-school?”, you should be able to answer in a convincing manner. Portraying your disinterest may work against you and may result in your rejection, a major confidence buster at the time you need it the most.

Avoid filler words: Be as confident in your speech as your body language. Avoid filler words such as “umm”, “okay” and “like” to make up for the gaps in between sentences when you need time to think what to say next. You may instead compliment the question by saying something like “That’s an interesting question”to buy some time and structure your answer before starting to speak.

Make a mark for yourself: When asked to introduce yourself (generally the first question at every MBA interview), you should try to say what makes you unique rather than just explaining what you did. You are your best advocate and marketer under such circumstances. So,make the most of the opportunity by portraying yourself as the best and highlighting your Unique Selling Proposition.When asked questions about your weaknesses and the mistakes you have made, be natural and authentic, explain what you learnt from the experience, and don’t get defensive.

Pay equal attention: If you are being interviewed by several people at the same time, give everyone equal attention.You never know who might turn out to be the real decision maker. Never undermine the person sitting towards the side of the table and end up making eye contact or shaking hands with only the people sitting in the center.

Keep a positive attitude: Expressing a positive attitude is the single most valuable first impression you can make. If you are excited and able to show the interviewers that you are interested, your potential selectors will definitely be considering you for selection within two minutes of you walking through the door. The right attitude can actually have that good an impact on the panel members.

Be a good listener: A good interviewee must also be a good listener. Listen to the questions attentively and try to interpret them in terms of what the interviewers are looking for. The questions and the way in which they are asked, generally, provide clues to what the selection panel members need and expect. Never cut across or interrupt when an interviewer is speaking. Assuming the question before it is completed and giving pre-emptive answers gives a negative impression.

Remember that your key to success for selection to the MBA program in the primary business school of your choice is the personal interview. You get just a few seconds to make a good first impression and it’s almost impossible to be able to change it after the opportune moment has gone.

The majority of efforts that you need to put in for interview preparations involve common sense. And with just a little extra thought and preparation, you can perfect your unique style to make every first impression not just good but great!

Do’s and Don’ts of a Group Discussion in B-school Admission

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In spite of how well we prepare for the Group Discussion (GD) round—an important assessment stage towards admission to the B-school of our choice for the MBA program—we tend to commit certain mistakes, which in turn can break our chances of securing admission into a premier Business institute. This makes it absolutely necessary for MBA aspirants to know the essence of a good group discussion, how to tackle it, and the do’s and don’ts of the process.

The group discussion is meant to evaluate whether you possess some skills or personality traits that are ideal for a manager. So, candidates aspiring to be managers should know how to deal with a group discussion topic, and what to do when the GD goes directionless. Basically, what the panel is looking out for is not just knowledge, but good leadership skills and the ability to extract the best from everybody in the group without being aggressive, domineering or ignorant. The mistakes committed during the group discussion might appear trivial, but the GD panel is quite likely to take them seriously if they feel that the candidate is missing out on the basic quality set expected from a future manager.

The Purpose of Group Discussion

A future manager must be dynamic, and possess all the essential qualities that most organizations look for. The ability to work, manage and contribute efficiently in a team is a prerequisite to climb the ladder of success in the corporate sector, and group discussion precisely aims to test these skills in the candidates.

The panel members are looking out for qualities such as the ability:

  • to facilitate ideas for the discussion to flow,
  • make individual contribution yet take other team members along,
  • facilitate good decision making,
  • bring up many perspectives,
  • evaluate pros and cons of various options, and
  • route for a balanced, win-win solution.

The first round of written examination only helps to evaluate the reasoning and quantitative skills of a candidate but hiring companies may not want a manager, who just excels in reasoning or quantitative areas. In reality, most companies look for those managers, who not only excel in specific areas but demonstrate their strengths in interpersonal, leadership and communication skills to be able to bring out the best from their team once they are exposed to the real business world.

Let’s begin by identifying some common mistakes that students tend to commit during a group discussion.

Common Mistakes in the Group Discussion

Sudden Outburst of Emotions

Some candidates may want to grab the attention of the panelists by showing their anger or frustration if they disagree with other candidates’ opinions. This approach will not go well with the panelists, as losing your composure is the last thing expected out of a good manager.

Egotism 

The desire to impress the panelists might lure you into giving out fake information and figures presuming that the panel would not notice. Experts, however, suggest that you give out facts only if you have the correct information.

Talking Excessively

Some candidates think that if they talk too much during the group discussion, they have a good chance to impress the panelists, but in reality most panelists do not appreciate candidates, who talk excessively without making much sense. So, make it a point to talk moderately while expressing your views and thoughts succinctly in line with the topic of the GD.

Things You Should Do In a Group Discussion

Introduce Original Points

A candidate should try to bring up fresh ideas that have not been mentioned by other candidates. It would demonstrate your skill of thinking and responding well and would give an impression that you can think on your feet.

Provide Logical Conclusions   

It is a good idea to build upon another candidate’s point by providing rational conclusions to his views. This approach would give an impression that you are supporting others’ views by strong logic and unvisited perspectives.

Use Statistics and Examples

Candidates who use correct statistics and examples to strengthen their statements have a good chance to get attention in a group discussion. Panelists would feel that you have really prepared well for the discussions.

Provide Direction

If you feel that the group’s conversation is going in the wrong direction or drifting from the main topic, then it would be good on your part to try and bring the conversation right on the track by making meaningful statements that are also in line with the expected flow of the GD.

Build Strong Rapport

It is a good sign to build camaraderie with the group during the group discussion. Demonstrating a positive body language that projects good leadership qualities can help to make a lasting impact on the panel members. Listening carefully and giving meaningful cues could be one such example.

Communicate Efficiently

Communicate in the best possible way by making your point through short and simple sentences. Try to communicate effectively by speaking precisely to the point without uncluttered ideas. According to experts, effective communication also involves actively listening to what the others have to contribute. So, the advice is to listen carefully before and after you speak your part.

Things You Should Not Do In a Group Discussion

Don’t Negate

A candidate should not completely negate the views or thoughts of other candidates. This would give a bad impression as if you do not want to listen or you do not have the patience to listen to the views of other candidates. It is a good gesture to be open to opinions and ideas of other candidates even if they are different from your own ideas.

Don’t Get Radical 

You should try not to express radical views in a group discussion such as conclusive remarks about religious beliefs, political situations or economic policies. The arguments should only come in the form of possible suggestions and personal opinions and not definitive inputs. Statements or sentences that tend to have drastic or double meaning should also be avoided. The idea is to facilitate the flow of the group discussion positively.

Don’t Get Biased

Gender-based, caste-based or racist sentences should not be spoken in a group discussion. This can negate your chances of being selected.  Experts advise that the candidates should maintain a cordial tone throughout their participation in the group discussion.

Don’t Try to Speak for the Maximum Length of Time

Candidates who are silent during the group discussion must be encouraged to speak so that they also get to express their opinions on the GD topic. It is not wise to speak alone and not allow others to speak. So, make it a point to encourage others to speak as well in order to have a healthy discussion.

Don’t Get Critical

You should not make sarcastic or critical statements in a group discussion as this would give an impression that you find mistakes or shortcomings in the people around you. Be polite and maintain a gracious tone while speaking without hurting the sentiments of others.

Don’t Get Personal

Making personal statements or anecdotes about a person is certainly not the right way to proceed in a group discussion. Avoid using these sentences and make puposeful statements as per the topic.

Things to Keep in Mind 

Demonstrating good communication skills is a good way of improving your chances to succeed in a group discussion. But, you also need to listen carefully and then talk precisely according to the theme of the GD, which is more important. Bringing out useful information and relevant statistics can help you make a lasting impression on the minds of the panelists. You need to lead by example. So, experts suggest that you display good leadership skills by leading the discussion to reach acceptable outcomes.

Moreover, you need to treat every candidate in the group discussion with respect and humility. Dressing up in formal attire can also go a long way in helping you make a lasting first impression on the panel members.

Candidates can have a good chance to crack the GD if these simple tips are kept in mind during the preparations. A final word of advice from experts of the field is to pay attention to the topic and assess how to speak in front of the group with all the correct information and statistics to be able to provide result-oriented conclusions.

Indian Financial Investors: Changing Investment Preferences

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Introduction

As the current financial year draws to a close, it is worth introspecting on the changing preferences of small investors and attempt to look for patterns and trends driving the change. whose investments  and  returns have  seen  a  roller  coaster ride against  the changing  macroeconomic  backdrop.

The beginning of financial year gave  first signs  of  economic  slowdown, In  the  first  quarter of fiscal  year  2013/14, GDP  grew  at disappointing  4.4%. Inflation was stubbornly high, The CPI inflation hovered around 10.24%.The currency value of Indian rupee against dollar slipped to  its  all  time  low of  Rs 69 during the year, also the  persistent  current account  deficit  on  account  of huge  gold  imports  invited  regulatory  action  of  hiking  import  duties  on  yellow metal and  imposing  quantative  restrictions  on  its  imports.  Much to  their  chagrin   small  investors  who  looked  at  gold  as  a  safe  haven  for  investment  and  hedge  against  inflation soon discovered that  this asset  class  which  had  outperformed  in  the  last  few  years  would  soon  start  losing  its  sheen.

Gold as a financial Asset

The lure for the yellow metal for the Indian investor is not new.  The  cultural  milieu  of  Indian  masses  has  always   made   gold  as  an  attractive store of value . However  post  2008,  after  the  financial  crisis of  US,  when  investors   started  seeing erosion in their  dollar  denominated   wealth,  the appeal  for  gold increased more  than  ever  before.  Across  the  world   with  weakening  of  the  strongest  currency-the US  dollar,  investors  started  turning to  gold   a  safe  investment  option.  Even before the beginning of financial crisis, gold was outperforming.  The super cycle  of  commodities  that had  been  on  account  of  various  factors  such  as  FED  quantative  easing, China  and  emerging  markets  growth  story,  had  seen  a  meteoric  rise  in commodity  prices ,  where  investors  had  begun  “financialisation  of  commodities” gold    too  was  not  an  exception. In  India which  had  a huge market  for  jewelry too was seeing  a  paradigm  change  and   consumers  had  begun  looking   at  gold as  an  investment  option. Gold unlike many other asset classes offer these unique advantages

  • It acts  as  a  hedge  against  inflation
  • It  insulates  the  investors against  currency  depreciation
  • It acts as a refuge against economic and political turmoil.
  • It’s a store  of  value  for  the  cash  economy  especially  in rural  India ,  which   hitherto  is  still some distance away from financial  inclusion.

The psyche of the small Indian investor suited gold; whilst real estate has always created wealth; the myriad issues of large outlays, complex holding patterns, inheritance issues coupled with illiquidity made the small investor shy away from it. Gold on the other hand offers sensory pleasure (“I-can see-touch-and hold it”) can be bought in small quantities and above all can be encashed even in the middle of night makes the appetite for gold almost insatiable.

A large  number  of  avenues  such  as   Gold ETF , commodity  derivatives,  gold  coins  against  the  traditional  jewelry  added to where   consumers  could  avail    the  high  returns  of  yellow  metal. As  seen  in  the  graph  below the  upward  climb  in  returns of  gold   continued  from  to   till   July  2013.

       Graph1:    Daily   Prices of Gold Rs/10gm: 2008-2014

Source:  MCX

As  per  the  CSO  estimates  between 2007-08 and 2012-13, investment in valuables –gold and other precious metals, including jewellery increased five-fold from 53,592 crore to 266,482 crore.

On May 22nd. 2013, on the announcement of tapering of quantitative easing by the U.S. Fed, gold became the biggest loser internationally. However, Indian investors were still protected because of rupee depreciation, and still high inflation. The capital  flight  and  the looming  problem  of   current  account  deficit which  was  weakening  the  rupee prompted the  policy  makers  to   take  stringent  policy  actions   against gold .Being recognized  as  a  major  import  and  a  drag  on  our  current account  asset .Duty hikes and quantitative restrictions were imposed. Gold being an unproductive asset derive its value from future appeal. As more and more people flock to buy gold, the confidence on gold as an investment increases.  However due  above  reasons ,  gold  saw  a period  of   stable  to  lower  prices  and  this  convinced   investors that   gold had  seen  its  peak.  The  confidence  in  gold  investment  being lost, investors  started  taking  a  backseat  and  started looking  at  other  alternatives

Last year, India imported over 847 tons of gold but new restrictions on gold imports may bring down this figure drastically, analysts said. Festival demand has weakened due to higher prices and lower imports but consumer preferences are changing to platinum, diamond jewelry and light weight gold jewellery,   India lost its position as the single largest consumer of gold.

Inflation Index and Tax free   bonds

To wean away  the  Indian  investors  from  gold ,  the  Indian  policy  makers introduced more appealing  form  of  inflation  index  government  bonds, It  was  claimed  that  these  bonds  had  better  appeal  Unlike  their  original  form,  these  bonds  in  their  new  avatar   were  linked  to   the  CPI  index  instead  of  WPI.  However   liquidity and    predictability issues continue to bog them down.  Indian Investors preferred certainty and good returns to liquidity and showed inclination towards high coupon tax free bonds instead.

Mutual Fund and Insurance products

In India, life insurance has typically been looked at as an investment plus protection. Thus, in the investment aspect, it is not very different from mutual funds. The biggest flush of investor funds came into these products in the heyday of financial markets during 2007-2008. These are often called SIPs (Systematic Investment Plans), and ULIPs (Unit Linked Insurance Plan). They are structured to invest regular amounts systematically, mostly in the equity market. However, post the 2008 subprime crisis, market crashes, quantitative easing, and some subsequent recovery, these plans were not making much money. In addition, after 2011, when investors were walloped by high inflation, they were itching to cash in when they broke even on these investments. Consequently, in late 2013, as the equity markets inched towards new highs, mutual funds and insurance companies saw heavy redemptions by investors in these schemes. The retail  participation  in  equity  linked mutual  fund  schemes  were  strongest  in  2008,  the  retail  inflows   stood  at  Rs 32,247crores.   In  comparison  to  this  the  last  two  years  have  seen   an  outflow  of   retail   investors.  In 2013, the outflow of retail segment from these products was Rs 11162.8 crores. [1] A part of the money redeemed from these schemes has gone to high coupon and tax free bonds as the investors preferred these, even though they carry liquidity and some credit risk. These instruments had also become more attractive due to the rising interest rates in the economy resorted to by the central bank to keep inflation and depreciation of the currency under check.

Small Saving Schemes

India’s gross savings rate has declined since 2007-08, and stands at around 30.1 per cent of the GDP. Investors have allocated a part of their savings to high coupon and tax free bonds. The other part has flowed into the older favorite, small savings schemes. Many investors are flocking back to small saving schemes as investors on account of increasing number of scams in various chit funds, Investors are looking for safety that these government instruments provide. Instruments such as post office time deposits and National Savings Certificates (NSCs) are again being revisited The  post  office and  monthly  saving  schemes  make  up  substantial portion These schemes along with fixed deposits are perceived as risk free. Net Inflows this financial year are expected to   turn   positive to the tune of Rs 1,100 crore.  This is a substantial improvement   from previous years which saw a net outflow. In 2011-12, for instance, there was a gross negative outflow of Rs 21,800 crore from all small saving schemes. Although the interest  rates  in  these schemes  are  not  attractive, and  high  inflation  actually  depresses  the  real  returns ,but these  schemes  score  on  account  of safety cushion. Instruments  such  as  PPF  also  have  a  competitive  edge  on  account  of  tax  free  income they offer.

Conclusion

Some insights  about  the  investment  behavior   and  preferences   of  small  and  medium  financial investors have been  touched upon in  this article. The financial year has seen falling economic growth rates and high inflation. Both these macroeconomic variables have dented the saving rates.  As small  investors grapple with  erosion of  real returns  on account  of  high  inflation   and  low  saving  rate,   they  keep  shifting  their  investment  preferences  in  favor  of  asset  that  insulates  them against  high  inflation. A shift  from  equity  mutual  funds  and  gold  to  high  coupon  and  tax  free  bonds  is  discernable.  If RBI measures  to  tame  inflation  and  governments commitment towards  the path of  fiscal  prudence  hold  water   bringing  forth milder inflation in the coming  financial  year .The small investors  may start  showing   renewed  interest  in   equity  linked  investment  products.

Contributed by Prof.Sarika Rachuri and Prof. Hemant Purandare(Faculty, IBS Mumbai)

[1]   The  data  has  been  taken  from  Association  of  Mutual  Funds  in  India

How I cracked GD-PI of IBS Hyderabad

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“With a large number of applicants registering for IBS Business School every year, cracking the GD-PI especially for the Hyderabad campus is not a cake-walk”

– IBS Hyderabad class of 2013 alumna, Prachi Tewari.

I still remember my experience of the selection process. After completing my graduation in biotechnology, I decided not to go for a job and instead pursue an MBA. After giving various entrance exams, IBS was one of the good options I had in my hand and I was not ready to let it go. Performing well in the group discussion and personal interview of IBS thus became very high priority for me.

Preparation – The most important factor for performing well in GD-PI of b-schools is to be well aware of current affairs, especially related to business world and the best source for that is reading newspapers. Since the time I started preparing for entrance exams I made it a habit of reading half an hour daily and if not the newspaper then at least to watch English news channels. Joining discussion forums related to latest GD topics was the second thing I did for preparing. For interview the first thing I did was to make a perfect resume as it gives your first impression to the interviewer and the second important thing was to be totally thorough with your resume.

Group Discussion

Topic – Good guys always end last

We were a group of 10 students with 2 invigilators. I had an advantage of getting the center seat. Initiating a GD, for topics like these, or as a matter of fact any topic plays a very important role. If you do come up with a strong point, the direction of the discussion is lead by you and you get easily noted but if you are not able to initiate properly, you get noted in a negative way. The same thing happened with the girl in our group who initiated with a very weak and unrelated point and she was brutally countered by me. I just spoke one point but a relevant one and got everyone to agree with my point. I spoke three points in total and got full marks in GD. My first point of course brought relevance to the discussion; my second point was an example from my personal life. In GD’s it’s very important to give examples to support your point. If you cannot remember any famous personality examples, then give examples from your personal life. Third point I made was to take the discussion in another direction as everyone was speaking against the topic, I decided to speak in favor of the topic. In short speak relevant, speak something new and always support your point of view with examples.

Interview

There was a panel of two interviewers. As expected the first question they asked was why I want to do an MBA. Giving a good answer to this question is very important. One should never project that they are doing MBA just for the namesake. Since I had no work experience, 80% of questions were based on the academic projects mentioned in my resume. One should be very thorough with one’s resume. I was pretty satisfied with my interview when I came out and few days later the results came out and I was a clear winner. In short for an interview be honest about yourself and be thorough with your resume.

This was all about my experience and best wishes to the upcoming IBSAT qualifiers for their selection process.

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