If you get admission into MBA programme at a good institute, you may think that by virtue of your obtaining the MBA degree you will automatically get a job with good salary package. However, this is far from truth and you would be grossly mistaken. When you pass out from a good institution, you have few things with you as follows,

1. A degree certificate, which is nothing but a piece of paper indicating “Mr ABC passed MBA examination of XYZ Institution in 1^st Division with distinction and his specialization was in Finance” etc.
2. A superior you who is heavily loaded with knowledge and information which can be readily recalled and used when required.
3. High degree of skills in problem solving, use of computers and other techniques.
4. Good habits of dedication, hard work and determination.
5. Sense of owning responsibility and meeting deadlines i.e. target dates set by the organization.
6. People skills of team working, leadership, synergy of working, effective business communication and conflict resolution etc.
7. Strength of character, honesty, integrity and ethics etc.
8. Ability to function with right attitude at different times especially under difficult and trying conditions.
9. Ability to adopt an approach making learning and growth as life long process.

The fact is that all these things together determine what your starting salary package would be and how far high you would rise in your professional career. Knowledge and skills are very important but ability to own responsibility and deliver results is far more important. It requires a complete package of qualities like attitude, feelings and emotions, enthusiasm, ability to rise from setbacks, imagination, vision and foresight, and most of all ability to function effectively amongst people of all types.

Some of these aspects are described below to highlight their significance;

1. Deadlines and Prioritization: Ability to meet deadlines and prioritization are important across any industry. A successful manager is one who can achieve a series of deadlines i.e., target dates for important milestones. For this purpose he would prioritize all his actions to fall in line with the goals. Without proper prioritization hard work will go waste.
2. A Clear Objective Statement: The most difficult question to answer during a job interview is, “What is your professional objective?” This is so because we don’t introspect and think regarding what we want to be in life. Those who engage in deep thinking would have crystallized their thoughts and ideas and be able to frame the objective statement as they require.
3. Leadership: It is a key quality which cannot be easily taught. It can be learnt by the individual through constant endeavour and well planned experiential learning. However, all students exposed to same experiential learning modules will not develop leadership quality to the same extent. MBA programs teach graduates core business skills, but cannot ensure equally developing their leadership skills.
4. Honesty, Integrity and Ethics: Ethics is about being guided by your innermost values and to connect the concept of ethics with your own inner beliefs. Depend on your basic grooming and on doing more than your normal call of duty. Developing a sense of achievement at the school will give you an inner confidence to steer you move through life. Corporate world and host of politics that exist there should not baffle you or derail you from your core values. Moral dilemmas do not hurt you if your basics are clearly grounded.
5. Networking: An MBA institute provides best ways to network. The program gets you access to top professors at business schools and give graduates opportunity to network with other professionals.Today, a lot of networking is done through online channels, and it’s becoming increasingly crucial to have networks across a range of sectors, in order to spot new opportunities and possibilities for interconnection. MBAs may have the skills to deal with this new world of networking, but we cannot assume that they will automatically be able to network efficiently just because they are MBA.
6. Teachable: A person’s attitude towards new learning at all times in life is far more important than his track record of earlier learning. Willingness to learn and speed of learning both are crucial for faster rise in professional life.
7. Communication: Effective business communication is one basic quality required for success in professional career. It includes ability to articulate ideas orally and in writing and also to listen attentively to discern key ideas of other speakers.
8. Teamwork: Ability to work with other people is important. It involves ability to motivate and guide people. The business world requires that we work with people and use every opportunity to strengthen their relationships. Though professors are responsible for inducing and encouraging teamwork, it is the individual student’s approach and attitude that makes the difference. In the real world you cannot choose who you work with. You may be working with people with different attitudes and values. You must learn to adapt and embrace. Look for opportunities to engage with different people. Understand group dynamics and how people react and interact to each other.
9. Critical Thinking: Thinking is hardest job on earth and it is said that men will take lot of pains to avoid thinking. In these days of Google searching it is easy to look to internet for every possible information and idea, but it really does not give us the information as we require. Critical thinking is a step further i.e., it is creative and innovative thinking. To develop this faculty the MBA students must understand the significance of thinking and put in prolonged thinking sessions in order to develop the habit of thinking. Meditation is a powerful technique which clears the mental cobwebs and the mind’s vision becomes un-blurred.
10. Potential to Fit into a Role and Grow: No two corporate jobs are identical. It is necessary for the aspirant to align his thinking to the approach practised in any given organization.
11. Attitude: Many MBA graduates have reasonable expectations for salary and responsibilities in line with their experience, but may have the wrong attitude towards the company. Individual’s future goals and expectations must be aligned to company’s promotion policy and salary structures?
12. Contemporary Issues: Organizations today seek skills such as innovation, creativity, fundraising, marketing, entrepreneurship and flexibility to respond to an ever-changing world. A successful manager is a focused person, has a clear goal and it shows in his performance during the career.
13. Decided and Impacting: You need to be decision-maker. Use high focus, clarity of mind, analyse and decide. Looking for support, but ‘you’ decide. When you make a positive impact in your workplace it will not go unrewarded.
14. Agent of Change: Become an agent of change for the organization and society. Change towards improving processes is the only thing which enables organizations to sustain and grow. Innovation and change for the better is the key. Learn and apply Japanese techniques of total quality management (TQM), Lean thinking and Kaizen continually.

Contributed By : Sumit Gulati, Batch 2007-2009, IBS Hyderabad

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MBA programs are oversold by most of the B-schools. Commercialization of education has led to more & more confusion about – the career choices, the streams to specialize and to give pace to the professional skill set for gaining momentum.

There might be tens of reasons which the B-schools try to sell their programs for ranging for hefty packages to corporate back-ups. There are also reasons slated as promising careers, quick recruitments as considered to the age old medical & engineering fields. But the question arises – are these reasons valid enough to be marked as the sustainable takeaway of business education?

The reasons slated above are short-termed; there are no second thoughts that they are exciting and relevant to almost everyone who is ambitious enough and dreams of a career. They are in fact also valid for the parents – who most of the times assess a choice of career – as a return on investment nowadays, thanks to the institutes which charge a bomb for no value addition. Having said that, I would like to share what I felt shall be considered as the sustainable takeaways of management or B-school education.

Sustainable here does not only mean polishing your skill-sets and knowledge in your area of expertise or work but by sustainable takeaways, we would be sharing the life-long lessons one gets to learn in b-school education. Few practices and lessons of B-school education go forever and of the many management graduates I came across, agreed that this helps in the growth of an individual not just as a professional but as an individual. Getting on to the takeaways now –

Personal Grooming:

B-school education can work as the second best school for an individual after a parent. It helps you assess yourself, your skill-set, exposes you to the career options and establishes your preferences to learn & pursue a career.

A good program equipped with extra-curricular and life-skills/behavioral coaching helps an individual in personal grooming, self understanding and improvising the personality as per the industry segment s/he choose to pursue a career into.

Communication Skills – I would like to mention here is the foremost requirement for anyone in this world to excel in anything one does.  At IBS, we were all privileged to have worked so much on the communication skills – oral or written, it works to the best for anyone & everyone.

Decision Ability & Tolerance:

Most of you must be wondering on reading the heads above, how tolerance can be learned through a 2 year program?

If the program design is good, the pedagogy is apt, you are sure to learn, improvise the decision making and tolerance skills. And this is one of the most significant take away of a b-school education. And the beauty is – this is not something which is taught, or could be understood through theorems but this is something which a student learns during the course of action for the 2 years.

In IBS, they follow the Case Methodology which – in a unique way helped us all in thinking analytically, to derive logic and that is how business decisions happened to most of the students during the business strategy case studies. That is the effectiveness of a b-school education, a management program.

Tolerance on the other hand – could be learned during the management festivals – which are the most amazing part of a b-school education. You read, gain knowledge, you participate and learn team work, you fight and learn competition, you excel and learn management.

And during the entire gamut of learning – you become tolerant. You manage people, you handle situations, you adapt and hence you sustain.

It Pulls you out of the Comfort Zone

It is most sustainable trait of any individual to be able to work even when out of his/her comfort zone. Many of the students come directly from a family life- the pampered ones etc and with a management course this certainly isn’t an easy thing to do.

But a B-school education promises the student to learn to work outside the comfort zone. Your internship projects, the assignments are all centered at polishing knowledge even when you learn in those situations.

Get Together & Networking:

B-school education embarks on bonding together and learning together. The group dynamics and team skills can be best achieved in a b-school; provided it is a good B-school. You meet, connect and make lifelong relationships, several turn out of the power networked, few become co-founders. I know many of the likes, my friends which were then batch mates at IBS, Bangalore are partners in business now.

And that is the reason, I feel the still to network and networks itself are a sustainable take away for anyone at any given point. Strong relationships foster strong businesses and create entrepreneurs. I have seen many – how about you?

Cross Cultural Solidarity

This might sound a little weird but cross cultural cohesion is certainly a sustainable takeaway from b-school education. One gets to meet people from all different & diverse family backgrounds, various geographic locations, different set of educational & professional backgrounds and learning happens. They learn together, live together and adapt to cosmopolitan practices and this works forever, this creates synergy.

In corporate lives or in life as general, it helps if one is familiar to different cultures, well travelled and understands – the behaviors, insights and markets at large. And this is not something which could be taught in a book or explained in a class – this is learning my living.

The rigorous courses and practices in a B-school help students find time & fine tune with the various cultures and this help them go further in life. This makes them a better Cross-functional professional and a great team player. It takes away the inhibitions based on caste, creed etc – it helps students broaden their vision & thinking and turns them into better human beings.

All of the above are the bigger and better sustainable takeaways from an MBA course. The students in a B-school start thinking differently with a more holistic approach coupled with knowledge of all verticals of an organization. An MBA certainly opens up your mind to things happening around you – the best & the worst and it also empowers you to become the anchor of your life.

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Books may teach you about the business functions but they won’t teach how you can possibly be a part of the functioning. Books may teach you about the business but they won’t teach you about its management. For the on-field knowledge about business, there are B-schools.

Business Management is a craft. It’s based on experience. Then, there’s a component of art, of insight and creativity. It is not a science but it uses science. B-schools teach analysis, teach the functions: marketing, finance, accounting – in terms of theories and cases. B-schools introduce you to the world of business, to the customer, to the people; B-schools teach you the practicality of business industry unlike the bookish theory. Let’s find out.

Teamwork – An overview of corporate world

In the world of ‘I, Me, Myself’, B-schools teach you to give importance to the ‘we’ world i.e., teamwork. At the beginning of the year, they ask you to create a team of 3-4 participants that will give back records. On most occasions, teams are formed by the MBA Program itself and include people of diverse backgrounds and interests. The idea is that through teamwork and interaction, MBA participants will share their experience to provide a more global view.

Pedagogical methods – From theory to practicality

In an open and flexible environment, academic excellence and practical experience, the content of the curriculum in an MBA program is balanced between formal business education and real-life problem solving. It is a mix of teamwork with competition and teaches the skill that will enable the students to grasp new ideas and seize new opportunities. MBA program combine the theoretical and practical approach. The practical approach relies on real-life business cases, the IBS case study approach is unique and one of a kind and allows the student to understand management & businesses better. The theoretical basis relies on seminars and lectures which are equally significant but cannot be utilized without application.

The faculty members – Hear it straight from the horse’s mouth

 The faculty members at MBA program usually have a PhD or experience with a top management level providing a high level of education to the students. From consultation to top companies to applying academic theory and the practical lessons they learned in the management ranks, they have done it all. It’s like taking lessons from the people who have gone to the battle field and conquered it all. Furthermore, there are more and more guest speakers who come to class and bring a practical point of view to the courses taught by faculty members.

Elective subjects – the power of specialization
MBA program offer elective subjects through which students can adapt the course to their practical needs. The student who is interested in a career in finance may focus on electives in the field of finance, the one who intends to start up his own business may focus on small business management or the one who wants to be into HR management can pick management of human resources.

Not only the choice of subjects, the program also offers relevant expertise & experience through – internships & projects in their chosen area of preferred careers.

 Soft-Skills

English – Get a grip of this global language, Being an international management degree and originating from the United States, MBA is usually taught in English. This opens the channel for working in the global markets. Right from educating the industry terminology to sharpening the intercommunication skills, you can master the language and its benefits to apply in your career for years to come.

Not only language MBA @ IBS includes Soft-skills with equal credits as the electives. A student at IBS receives proper soft-skills grooming & training on language, management skills and people skills.

Practice vs. Theory

Books are there to mug up the theory but practice of those theories is necessary to implement the knowledge gained. In order to develop a more practical understanding of business, MBA Programs have developed compulsory industry projects, internships that are part of the curriculum and grading as well.

Social responsibility – It’s important for a progressive Nation

Apart from providing good education, discipline, ethical and moral values, MBA teaches social responsibility to the students. Some MBA schools have special focus on the rural development and they teach as well as take many initiatives to work towards it. A simple contribution like clothes donation to a noble task of teaching the unprivileged, every activity aims in rural and social development. Educating an emerging subject like this goes on to prove that management education is a constantly evolving subject.

Technological approach – A high-tech environ for high-end thinking solution

Technology has helped us traverse not only to space, moon but to a neighboring planet as well. It is this technology that transforms dreams to reality. When it comes to MBA program, they tend to offer the highest possible level of service to their students, including: IT classrooms, completely wired buildings, the most up-to-date information technologies, large libraries, all sorts of business databases etc. This in return makes the students more tech-friendly.

Modern business challenges – Bring it on

Whenever there have been changes in business practices such as globalization and the development of new technology, MBA program have also gone through content and program changes. As a result of these changes, new subjects have appeared such as international finance, supply chain management, total quality management, e-commerce and information technology. New disciplines have also been introduced such as politics, religion, history, ethics and communication. So MBA always teaches us the sense of evolution.

Now, all these are not complied as one chapter of the book though. In the first year of an MBA program, the students learn the core disciplines of management education and then go on for specializations. Initially, emphasis is put on the fundamental subjects such as principles of management education, the basic concepts are taught in the first year of the MBA program, it develops an all round perspective of the student. In the second year, students can opt for specialization in selected areas of management. The second year of elective papers gives a student a good understanding in one particular area and provides them with good exposure to practical work also.

We recommend Books for always but an MBA Program can possibly change what you can extract out of those books.

Contributed by Jigyasa Laroiya

A ship that sails you towards your career path – Set off for an Internship Course for hands down industry experience

The custom of pursuing internships in different industries has been for many years now. Apprenticeships or on-the-job training are tried and true methods of mentoring and teaching students or workers a new trade or profession. Few courses have made it a mandate whereas some take it by choice to get a closer look of the industry they see them in the near future. The college students participating in internship opportunities continue to grow as more and more employers expect graduates to have real world experience.

What is it about?

The main purpose of an Internship is to provide a meaningful learning experience for the students. It’s not a cake walk all the time because the work allotted to you can be very basic, but the things that you are going to observe or learn can be meaningful and will help you understand the job, profession, or field. An internship may take place during the academic year (if it’s a mandate for your course) or you may even apply for an internship after graduation (your personal choice).Internships may not be paid or may not receive academic credit but if you take home the right knowledge, the experience will prove to be priceless in your professional life.

And here at IBS, Internships hold academic credit and many a times have proved significant & decisive move in the final placements of students as well.

How to find it

If your course comes with an Internship ‘must-have’, then expect to get a sorted list at the placement office or at specific department where you can possibly apply. Perhaps the most direct way for students to learn about internships is through the college Internship & Placement Office. Your college can also help students with cover letters, resumes, interviewing skills, and workplace expectations. For students who want to pursue it personally after graduation (those who take it up realize the edge during MBA) or during the MBA Program, can research online or may get in touch with family or friends who are in the same field.

What to expect from it
Now an intern should be ready for all sort of odd errands. That’s the ground level where employers expect you to grow from without complaining. From data entry to fixing appointments for seniors, from filing to taking photo copies, all these will come your way. Expect that!

What they expect from you

Now, they may overload you with gibberish work at times but they expect you to be proactive. Ask for work, question when you have doubt, do research about the company profile, show interest in attending meetings. If people see the interest in you, they will give you real work. But be sure to initially ask your supervisor for work and not the company owner.

Be Social. Make Contacts.

Now, the industry that you are interning now with may be the enter point of your career, so there’s no harm if you socialize a bit with your coworkers. Talk to them, ask them how they got to where they are, pull out contacts, and find out who they know in the industry. A little chit chat could just land you a job as soon as you pass out.

Get a clearer picture

It’s not just an internship; it gives you a real picture. It makes you realize whether you are ready to step in to the corporate life in the coming days. It helps you evaluate what you have learnt and what you need to learn more. You may want to take up a second internship or a third one, that’s ok as long as you make the best of every one of it.

The value of an MBA internship

Now internship isn’t only for graduates, it is also for the students pursuing MBA degree from the most prestigious business school. The skills you learnt in the classroom don’t have any importance if you don’t find its application in the real world of business. As a result, the value of vocational experience for MBA students and recent graduates cannot be emphasized enough.

For the majority of graduating MBAs, internships provide the chance to develop industry-specific abilities; develop strong teamwork skills, interpersonal skills; increase the likelihood of building professional networking contacts, mentoring relationships and so on.

Of course there is no guarantee that an MBA internship will give students a full time position but it will certainly enhance their chances as it will help them become viable, experienced job applicants when they are seeking employment after graduation. But point to be noted, many employers do consider internship experience in the hiring process, and many look to their own interns as the best potential candidates for full-time positions.

Are they really that important?

Here’s a clearer picture of why participating in an internship is an important experience to complement the learning you are doing in the classroom.

• An internship can serve as a screening device for employers. Also, many employers hire employees from their own internship program.
• An internship gives a student an opportunity to test a job or a field before taking a permanent position.
• Students who complete internships may discover gaps in their practical knowledge and they can fill in those gaps before they graduate.
• Another important take is that an internship looks good on a resume and employers are increasingly expecting to see an internship on a student’s resume.
• An internship in the resume builds the confidence in employers mind to hire the student because it increases job retention. They know that interns have experienced the profession and the work world.
• It may work as a deciding factor whether to take up that particular industry or thrive for a different one.
• Students who complete internships may receive higher salaries when they are hired.
• Very simply, an internship may lead directly to a job offer.
• Internships are fun – and great self-confidence builders.

Both future and current students are thus advised to start thinking about which companies will best help to take their careers forward.

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“Should I go for an MBA degree? Is it really worth it?” These were the concerned questions that an anxious gym-buddy, who also happens to be an aspiring entrepreneur, asked me one day. An apparently affluent non-MBA diamond merchant who stealthily overheard our conversation, interrupted us by highlighting his view which was – “An MBA curriculum is meaningless for entrepreneurial success.”

“Mark Zuckerberg of Facebook, Bill Gates of Microsoft, Sergey Bin & Larry Page of Google did not go to business school. In spite of that, they are the some of the richest entrepreneurs in the world! So, it would be better for you to invest the time and money on your dream venture instead of a Business school.” He continued by adding that doing so would more likely increase the odds the start-up’s success. He did have a point there. However, he had inadvertently poked just the tip of the ice-berg . On retrospection, the question seems to have a lot more depth to it. So let’s try to analyze the truth behind the ‘Mark Zuckerberg’ analogy.

Just using ‘Google’ to learn more about the life-stories of the richest entrepreneurs shows us that all of them had a massive interest in the field of their venture to begin with. This was backed by the passion, experience and real-world education in their core fields before they started their ventures. This equipped them with a required set of skills. With Google, Larry and Sergey spent years learning advanced computer science. It was only afterwards that they build a revolutionary search engine.

Similarly, Bill Gates had been programming since the age of thirteen. At 15, he developed a traffic-management program that fetched him $20,000. In 1975, he had dropped out of Harvard and formed the world’s largest software business ‘Microsoft’, just because he was confident of his knowledge, skill-sets and experience of creating something new and managing it. These were the exact things that would have been taught in an MBA school, which is why he dropped out.

The same holds true for Mark Zuckerberg. At a tender age of 12, this child prodigy created a sophisticated messaging program called ‘Zucknet’. Much later, at Harvard, he created ‘Facebook’ after spending hundreds of hours perfecting it in his dorm room. David Fincher’s ‘The Social Network’ is a perfect medium to demonstrate the hard work that went behind creating Facebook.

If you pay attention, you will see that the common thread connecting these three success stories is that all of them basically had an ‘extraordinary product’ that was created by immense talent, passion, effort, time and hard-work. And most importantly, they knew how to manage all these in an efficient manner. Unfortunately, not all aspiring entrepreneurs possess all these qualities at once. This is where the role of an MBA comes into play. An MBA degree will provide you with practical knowledge of business basics. You’ll get to learn useful business concepts, create business plans and acquire finance & marketing tools. An additional benefit of studying at a B-School is ‘Networking’. It would greatly benefit you if you make it your ulterior motive and focus from Day 1 that you have build a personal & professional network with batch-mates and faculty, particularly those with an industry experience.

Networking with batch-mates might seem odd considering all you are starting from the same point. However, their contribution might be helpful in the long run, when they might be successfully managing businesses in various fields. Likewise, choose an industry-based faculty as your mentor. If he is equally passionate about your venture idea, he may even open doors for you into his trusted business network, thus greatly benefiting you in return.

An aspiring entrepreneur needs to tread his path carefully and choosing the right B-School is the first step on the way. It would be helpful to hand-pick those B-Schools where ‘Case-Study method’ is an integral component of their academic curriculum. It will help you understand the pitfalls and risks on which other businesses have struggled with. Let us see a real-life case to support the theories discussed till now.

In the year 2002, Google founders Sergey Bin & Larry Page wiped out the entire managerial layer in an innovative experiment. The motive was to strip away the managerial barriers faced by the idea development team, by flattening the hierarchical structure. The experiment failed terribly and soon witnessed an end. Google realized the hard way that managers, especially those trained in some of the most reputed B-schools, are virtually indispensible in an organizational structure.

A B-School can perform similar wonders on an aspiring businessman who has an entrepreneurial spirit but lacks more formal analytical skills. The skills acquired by a management student remain identical irrespective of whether he becomes a manager in an MNC or starts his own business. However, there is a downside to everything. A veteran management professor once said in an interview, “In my opinion, entrepreneurship is a matter of the heart and education is a matter of the brain. It is difficult to teach a heart.” I share his perspective on the above statement as an entrepreneur may be defined as a person who has a risk-taking appetite and a fearless attitude. These attributes are inherently ingrained into his/her personality.

An MBA education can teach someone to take wise decisions based on calculated risks. But can it teach someone to enjoy taking those risks? I am not very sure about that. Some students who have endured the rigorous years of an MBA program often compare its schedule with the intense military training. So let me to give you a beautiful analogy explained to me by a worldly-wise Indian Army Colonel, who is also a distant relative. This analogy draws the similarities between entrepreneurship and military training.

India, for example, spends crores of rupees on its soldiers so that they are absolutely prepared to fight battles when required. They are trained to fire rifles, use hand-combat and operate in simulated high-pressure situations. Although, all that training only goes so far. The Colonel added that he could never anticipate how a soldier would respond on- ground. He may choose to hide in his foxhole, run in the other direction, play dead or face the situation and fight like he has been trained when the bullets start to fly.

How someone responds to extreme-stress circumstances depends mainly on one’s intrinsic nature, which is hardwired into one’s personality. The training provided will only take you so far. The same theory is applicable to entrepreneurship. Learning Finance, Marketing, HR & Business Strategy can be very helpful. They will fetch you good GPAs, but dealing with the real-world outside your training ground is a different ballgame altogether. It is equally important to be self-confident, passionate, curious and extremely street-smart. If you don’t have these natural qualities and instincts, you are likely to face issues as an entrepreneur.

So I personally believe that MBA programs do equip the future entrepreneurs with some valuable tools. They may help them in avoiding silly mistakes that the beginners make. In spite of all the tools and training, it is up to the individuals to decide whether or not they have the heart to tackle unexpected and unpleasant obstacles that usually tag along with new businesses.

That’s when the real bullets start flying. Do you have it in you? Think! Introspect!

Takeaway: Entrepreneurship is 70% Execution and 30% Analysis, whereas most B-Schools teach you to become the exact opposite. So choose your school with utmost care. To me, real world experience is the best teacher, but an MBA degree will give you a solid foundation which may help you launch your business venture with utmost confidence. I am not sure whether the probability of success will increase drastically but I am certain the probability of failure will reduce significantly.

Contributed By: Pranshu Awasthi ( Class of 2007, IBS Gurgaon ) 

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