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

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

The Flexibility

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

Equal Pay

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

Better and Equal Opportunities

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

More women getting an MBA degree

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

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

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

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

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

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

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

 

 

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

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

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

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

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

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

Do I need a MBA degree?

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

Am I up for classroom studying?

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

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

Is it financially viable?

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

Which B school do I choose?

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

Is my application effective enough?

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

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

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

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

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

Introduction

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

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

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

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

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

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

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

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

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

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

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

• By creating investment friendly environment

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

• By Developing infrastructure

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

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

4. Sectors on focus

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

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

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

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

References:

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

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

Contributed by janmang ( Class of 2010, IBS AHEMDABAD )

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

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

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

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

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

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

Contributed byManeesh srivastava (Class of 2008, IBS GURGAON )

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

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

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

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

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

2. Try volunteering opportunities

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

3. Explore your Corporate World

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

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

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

5. Impress your clients and get rewarded

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

6. Take advantage of your visa power

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

7. Search jobsin other geographies

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

8. Take the road less traveled

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

9. Make your MBA and hobby a delicious combo

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

10. Virtual office of your location

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

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

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

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

 

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

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

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

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

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

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

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

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

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