Hi There! In my previous blog I touched upon the reasons why an engineering graduate should choose Finance as the preferred subject for MBA. Being an engineer myself, I tend to have a biased thinking and seeing from the eye of an engineer. Today let me think through the eye of an employer. Having interviewed various candidates in last few years, I am sure the blog below is going to help you analyze yourself and choose the right path. Most of our career decisions are influenced by our surroundings, social circle, and friend circle – so if a friend or elder brother/sister pursues MBA most of us decide the same, well! I am not saying “all of us”, but certainly “most of us”. It is time that we do a little bit of introspection and understand ourselves better before making a career decision. Each individual has his own strengths, his own weaknesses, all of us work in different environments and face different kind of threats from our competitors. All of us (even if we are brother and sisters or for that matter even twins) are not made out of the same mould, everyone is unique and thus it’s important to identify oneself and do a S.W.O.T analysis before jumping onto a career decision. What worked well for my elder brother/sister may not work at all for me because of multiple reasons, he may be good in his analytical skills and I may be bad in that, I may be good in my persuasive skills and he may not be that good in these skills, when my brother passed out the economic scenario favoured technical knowledge but the scenario today is totally opposite. So? What am I trying to prove here? Well! Nothing to prove as such, but to make you understand the importance of S.W.O.T analysis before going in for “MBA”.

Most of you may already know what SWOT means, but for those who don’t know it yet, S – Strengths, W – Weaknesses, O – Opportunities, T – Threats. Applying SWOT analysis to self needs deep analysis. SWOT analysis covers the inner and outer environment and seeks to establish a balanced approach to help an individual or an organization to progress within an economical environment. The better you understand yourself and the environment around you, the better will be your decision making. Strengths and weaknesses are internal factors and they have impact only on you, while Opportunities and threats that are environmental factors under which you are expected to perform. Unless you understand the environment, it does not help if you understand only your strengths and weaknesses. You will be able to make the most of your opportunities if you understand them well and you will be able to progress if you understand the threats. Let’s take a simple example – Four people are given a task to reach from point A to point B in least possible time and you are one of them, the person who takes lesser time Wins. What would you do? You will start running? Well to be very frank, almost everyone would say “yes”. But is that the best thing to do? Answer is a clear ‘No’. If you look at the task carefully – you are not being asked to run but to reach point B in least time. So it’s better to do your analysis before you start running. After analysis you find that You have a bike while others don’t have it (Strength), You don’t know the path from Point A to Point B (weakness), all participants can take a GPS navigator to show you the path (Opportunity), One of your competitor is Usain Bolt (Threat). So does this analysis help you in competing better? Yes, it does, and now you have a fair chance to win the race. Pickup your bike, take the GPS navigator and race towards point B and let the others try to find out their own ways.

Many organizations also use this analysis to choose the right path, product, production techniques, marketing techniques, timing for launch of product, location of factory, location for launch of products and various other things to be successful in the long run.

So, any career decision that you make, it should be well thought of, well analysed and well planned. If you are strong in Persuading and convincing people then consider doing MBA in Marketing, if you are strong in accounts, economics, analytical and mathematical skills then consider MBA Finance as your subject, your choices will also depend on your weaknesses, opportunities and threats. Let me illustrate how the decision making changes when you consider all the factors together and not taking each one in isolation – You are good in understanding accounts and economics (strength), but you are weak in making presentations and building marketing strategies (Weakness), there is a huge demand of Marketing Managers in many Finance companies/Banks (Opportunity), there is a huge number of MBAs in Marketing passing out from institutes across India (Threat). Considering all these points together and doing an analysis, you can make a clear choice of selecting MBA Marketing, and you do that in order to use your strength, overcome your weakness, make the most of the opportunity and counter attack the threat with more confidence. I was just trying to tell you that you should not jump into conclusions without the complete analysis.

Your analysis and strategy needs to be in sync with your vision. If you have decided what you would want to be and what you would want to do then it’s helpful in making decisions, you still need to do the analysis to make a calculated decision. And even if you are not clear on your long term goal as of now, I would strongly recommend that you think of it now and consider doing a SWOT analysis to help you decide.

While doing the analysis, be fair and be true to yourself. Don’t underestimate your strengths – since something that seems unimportant to you may be important for an employer, don’t overestimate the weaknesses as it may be something that can be easily overcome, spend time in finding out the opportunities and threats as there are many of them that may not be visible to you as of now but once you start digging deeper you will be able to see more of them. Also, more importantly, your S.W.O.T should be related to your career objectives and should not be vague and completely unrelated, e.g. While doing a SWOT analysis before going for MBA, someone comes up with an analysis – I am a good runner, I am a emotionally week, there are opportunities in USA for miners and student of IIT are a threat to me – isn’t this completely useless? If you know that it is useless then you must be clear on how your analysis should look like. I have tried to cover a few examples here for your guidance, but if I try to cover all permutations and combinations of Strengths, weaknesses, opportunities and threats then I will end up writing a book rather than writing a blog.

Now you know what you need to do before you choose to pursue MBA. Always use S.W.O.T to guide you in making the right decision.

Always remember “In making a career decision – Reward may not be directly proportional to the risk”

Contributed by DIVIK ( Class of 2004, IBS HYDERABAD )

The battle of getting into a top business school doesn’t just end at the stage of cracking the entrance exam. The next stage of the battle is to come out victorious through the Group Discussion and Personal Interview rounds. The second stage is where it’s all about how your personality, how you perform and use your communication skills rather than just the power of your brain. Most MBA training institutes do their best to tell you the basics such as you should be updated with current affairs, have a personal introduction ready, little tips on the do’s and don’ts but what they miss is that this is the stage where you are tested more on your soft skills, communication skills, presentation skills, interpersonal skills, body language etc. and that is what I am here to talk about.

Group Discussion:

It’s a simulative exercise where 8 to 10 students are given a topic by the coordinator. The topic can either be something related to current affair, abstract topic or even a famous quote. All the candidates are given a couple of minutes to prepare on the topic and jot down their points. The first thing to do at this stage is to jot down points in both favour and against the topic, this way you will have a counter argument even if you are supporting the topic or not.

Now keeping in mind, the objective of getting noticed for bringing in meaningful contribution to the discussion, you need to:

1. Remember 2 quotes – “First Impression is the last Impression” and “All’s well that ends well”: When we watch a movie, we usually remember the start and the finish very well but a very few scenes of what happened in between. The same can be applied for a group discussion where the chances of making a strong impact is either by being the first person to start the discussion or being the one to end it.

2. Listen & Respond: The most important thing which we miss in a discussion scenario is to listen and then make a point. Everybody tries to put in their points of view but there are very few who listen to something react to it. Try to be that person in the group.

3. Loud is not the answer: You will find that one person in the group is the loudest and quite aggressive. However, note that it’s not aggression but assertiveness that the coordinator is looking for. Don’t lose your temper or start an argument. It would be wise learn to agree to disagree instead of picking up arguments. If you find an aggressive person in the group, calm them down by agreeing to them and they will go quiet for a moment. That is your window to put across you view and why you disagree with some points mentioned by others. Make sure you convey that even though you disagree with their view, you respect it nevertheless.

4. Body Language doesn’t lie: Sit straight and keep your body relaxed because the coordinator can judge how nervous you are just on the basis of your posture. Lean forward to show interest and make eye contact with everyone in the group. Remember to never make an eye contact with the coordinator during the discussion. Keep a pleasant expression on your face and avoid frowned or shocked expressions.

5. Be a Facilitator: Saying “Let’s hear what XYZ has to say” to a person who is trying to speak since a long time, shows your leadership qualities and ability to handle a group of people well. Don’t miss this opportunity! Also if you find someone digressing from the topic, take the stand to bring them back.

Personal Interview:

You have cleared group discussion and already spoke in front of 10 people. All you have to do now is interact with just 2 people, but the most important thing here is that this stage is all about you. These are some ways you need to approach this round

1. Relax: It is normal to be a little nervous or anxious, so take a few deep breaths. Calm your nerves and remind yourself that you are one of those who have made it till this stage. Work on your shoulders as stress and nervousness tends to lock down our body and make our shoulders stiff. Take a deep breath and roll your shoulders back.

2. The First & Lasting Impression: In case of a personal interview, the first 10 seconds make it or break it for you. So here is the run down: the moment you enter the room, walk tall, make eye contact with the interviewer and keep a smile on your face. Greet them and introduce yourself. Wait until they ask you to sit and always sit from the right side of the chair. Make sure you have only a file with you, place it on your lap when asked to sit and rest your hands on top.

3. Introduction: Remember this personal interview means everything is supposed to be about you. Keep your introduction short and to the point, tell them things which are not mentioned in your file or resume, but it is important to touch the information in the file briefly. However don’t exaggerate or make up false stories as the interviewer are experienced enough to catch the fibs.

4. No Nonsense: You need to keep in mind that the people taking your interview are experienced and have taken thousands of interviews before yours. So don’t to act smart around the interviewers and understand that having a no nonsense attitude will work in your favour. Don’t try to digress if have no idea about the topic in hand. Give it an attempt and it is absolutely OK to say that you don’t have much knowledge in this field but will come back with an answer. The interviewers will appreciate the fact that you are genuine.

5. Don’t be fooled: Sometimes the interviewers will try to get friendly with you but that doesn’t mean you start getting over friendly and cracking jokes. This is a test, where the interviewer is trying to gauge your interpersonal skills. Same ways, in a stress test they will grill you down until you break. This is a test to check how you perform under pressure.

6. Pleasantries & Other words: Phrases like “Thank You”, “I am obliged”, and “I beg your pardon” will never let you down during a personal interview.

7. Paraphrase: I have come across a few people who say “good question” in order to buy in some time to think of an answer. Avoid saying this as it means that the rest of the questions asked by the interviewer were not good enough. Instead of saying good question, paraphrase the question, for example, “So what I understand from your question is that…? “

Along with all the above, remember to be yourself. All the B- schools are looking for talented and skilful candidates and that’s the reason why they are so stringent in the selection process. Make good use of this opportunity to shine and dazzle.

All the best!

Contributed by Sonia Dubey ( Class of 2009, IBS PUNE )

Linkedin Profile of Sonia Dubey : https://www.linkedin.com/in/soniadubey

Master of Business Administration (MBA) is an exclusive and exhaustive course that prepares you for the Corporate Life. I, in particular, am a big fan of this post-graduation degree course and am recommending it to everyone who is eligible. From being a science student with B.Sc Biotechnology degree to breaking balance sheets in the credit department of a public sector bank, is how an MBA degree has transformed my career affinities. I was always told to be a doctor like my father and thus bio science stream automatically found its way through my school days. I was quite a good student of Biology but as destiny would have it, I got an opportunity of doing MBA.

MBA at IBS, Hyderabad for me is not just a post graduation degree course but an experience wherein I competed to chisel my skills and bring out the best in me. Initially I was scared of competing with commerce graduates since it was a cakewalk for them, while it was a completely new territory for me. The first semester of my MBA just went by ascertaining the fact that I stood chance amongst so many commerce graduates. The first year of the course offers general MBA knowledge and all the inducted students have to study the same subjects. People with prior work experience understand the nuances of an MBA through their practical experience in the industry. The combination of enthusiastic fresh graduates and experienced professionals form a good team for each subject since most of the assignments are allocated in teams. The first step is to embrace the positives of both the groups and slowly embark the journey of becoming a Team Leader/Player. This calls for learning to identify the weaknesses of your peers and understanding how to build a team that complements each others’ strengths and weaknesses.

At IBS, Hyderabad most of the students will be gathered at the common hall or the lawn and everyone will participate in achieving the task allocated to their teams- You break the ice and begin the journey from being an introvert to one who can communicate well effortlessly. In the initial days I used to interact a lot with my seniors for their guidance on how to get good CGPA. This part is also called making friends by breaking the barriers of Seniors & Juniors. They guide us with academics as well as recreation. I in particular had a fun ragging session and then was treated by my seniors at “Phirangi Pani”-my first encounter with Hyderabad beyond my college campus. The junior-senior relationship is a beautiful bond and the ease with which you bond with your seniors is an art that can be helpful in corporate life too.

As some time passed, people became a part of various hang out groups such as study group, hostel group, masti group etc. We learn to socialize with so many people from various backgrounds; we learnt the importance of adjusting to the existing situations, especially unpleasant ones. Attending and bunking classes, professors, lectures, assignments, presentations, hanging out, and parties became a part of the daily routine. All these helped me gain more confidence and develop my inner strengths. In MBA a major portion of the course is delivered through case studies where real life corporate examples are involved. Students are also asked to prepare skits to get an idea of how real life business situations are and how we should respond to them. From presentations & case studies to grading group work turns out to be very effective. During exam time each member of the group prepares a topic and presents it to the other members of the group. Teamwork is one of the most important aspects of my MBA experience. Until my graduation, my experience of being in a team and working with them was limited to the sports tournaments but now I could actually get good scores through teamwork.

I was inclined towards various inter college quiz competitions and sports tournaments. I participated in many inter MBA college quiz competitions and won several accolades. I was told that these extra certificates would add a lot of value during my placement process. Initially I did it just for the certificates but then I enjoyed interacting with students from other colleges, getting a chance to visit other universities and represent my college and giving my 100% for the preparation of such competitions. My personality was getting a holistic development and I liked the positive energy that emanated from within me.

The first year of MBA went into discovering one’s affinity towards a stream of specialization and at the same time working towards achieving the minimum CGPA for getting the desired subjects. Finance subjects in particular always carried minimum CGPA criteria to be fulfilled. I got a decent CGPA of 8.25 during my first year MBA and also got all my desired subjects but unfortunately I got separated from my group of friends. The annual fest at the college campus is another unforgettable experience. There were a lot of competitions, dance parties, ramp walks etc. I learnt the art of being an event manager and all the tasks involved with managing a successful event such as getting sponsors for the show, preparing hoardings, inviting colleges and organizing the whole function.

Second year is a little more rigorous which demands shorter sleep cycles & more hard-work especially for non-commerce students who opt for the Finance stream. Being a self-challenger that I am, I wanted to do finance specialization and be a good competition for other students. Another feather to my cap was developing the art of reading and comprehending financial newspapers, magazines & journals. I read a lot of articles and also started writing for the finance club at the college. I found that I was a decent writer and with the help of my friends I started my own blog. I sensed a funny bone in my articles and also presented them at college gatherings. Thus, my communication skills (reading, writing & speaking) were greatly developed during those two years, which comes handy even today. MBA course also offers a practical experience of the corporate world in the form of “SUMMER INTERNSHIP PROJECT” (SIP). Good companies approach the college for hiring interns and based on CGPA followed by interview students are offered 3 months of paid/unpaid summer internship. Before actually being thrown into the ocean, the college puts you in a river for developing your fins for navigating your way successfully through the choppy waves of the corporate world. The internship demands you to utilize all your abilities, research and deliver what the SIP guide wants you to do. Adjusting to the corporate atmosphere took its time but nonetheless it was worth the experience. Some people also get final placement offers from the same company of internship, if your mentor feels that you are an efficient worker who can contribute to their organization.

Placements prepare you for the rat race present in the outside world. It’s not just an impressive CGPA but an overall configuration of your personality that is judged by the companies visiting for recruitment. First the company’s delivers its corporate presentation wherein you have to decide whether the job profile suits your interest or not. The placement session helps you foresee your skills/potential that you have developed during the course period and apply for the position with great confidence.

I discovered my love for analyzing the financial statements of companies and making project reports. Now, I am working as a credit analyst and working in the same field for which I discovered my affinity during my MBA days. MBA has given me a platform to develop, hone and inculcate my business/personal skills and put my best foot forward.

Contributed by Sneha Singh ( Class of 2010, IBS HYDERABAD )

A popular proverb says ‘Well Begun is Half Done’ and this can be applicable to YOU if you are an MBA aspirant. The one main aspect required to crack an MBA entrance exam is a well defined plan and strategy. The plan will work as a roadmap and will guide to towards your goal/destination i.e. admission in a B- School. Planning is a simple and systematic process which helps to achieve the complicated task step by step.

We will be sharing few tips which will help you in preparing for the MBA entrance exam with ease. It will also focus on the overall preparation i.e. written exam, group discussion and personal interview. MBA colleges ideally look for candidates who not only have a good command over academics but have an all round personality.

Tips for MBA aspirant

1. A Clear Vision/Reason

First and foremost thing which is important for an MBA aspirant to know is why you want to do MBA. Yes, MBA colleges assist their students in getting a job with better salary package but that should not be the sole reason for pursuing MBA. Cracking an MBA entrance will be relatively easier then answering the question of ‘Why MBA’? – The answer should be related to what you want to do in your life.

If the degree of MBA will help you in achieving your goals and will also provide you a platform to achieve them then you should consider doing MBA. It will help in sharpening your existing skills and also develop others.

2. Well defined roadmap

Preparing for MBA entrance exam is a rigorous task in itself which requires a student to prepare themselves at multiple levels – academics (entrance exam – written), preparing for GD and PI which involves keeping oneself abreast with latest events in the world economy and not just being restricted to Indian news. You also need to work on your presentation and vocabulary skills which will be helpful in GD and PI.

In order to achieve this goal i.e. cracking the MBA entrance exam you should have a well designed plan in place from Day 1. A plan will work as a roadmap and help you keep a check on yourself if you deviate from the path and will also help in overcoming the hurdles one after another.

3. SWOT – Analyse Yourself

Before getting admission in a B-School, you will have to go through various tests like CAT/MAT/IBSAT/SNAP etc. Each and every test differs from the other in terms of the structure, however one thing is common among all is the basic curriculum. Also many colleges have their own selection process.

Briefly you will undergo following process before getting selected into a B-School

• Written Examination
• Group Discussion/Personal Presentation
• Personal Interview

As an MBA aspirant, you now know what is required from you, the process that you will have to undergo and the various subjects that you will have to study – Quantitative methods, Analytical Reasoning, English/Vocabulary, General Knowledge, Current Affairs etc. It is advisable that you now analyse your areas of strength and weakness. You may be stronger in mathematics but may find English/vocabulary/grammar to be difficult.

The reason for SWOT analysis is not to neglect the subjects which are your weaknesses. It is rather to allocate more time towards them in order to overcome your weaknesses.

   4. Have a disciplined approach
Once you have completed your personal SWOT and know the areas which will need high concentration, you need to start with a disciplined approach – Prepare a time table and make sure that you follow it systematically.
It will be a systematic approach wherein you will have to set your weekly and monthly goals, work out how much time you can dedicate every day for your studies and how will you achieve the target set for yourself.
Target setting will help you to have a focused approach and work towards your goal with dedication. Ideally you can prepare a goal sheet for yourself which will help you to check if you have deviated from the path and also the how much task has been accomplished.

   5. List the exams to appear

As we said there is a list of different entrance test for MBA -CAT/CET/SNAP/IBSAT/MAT etc. you need to decide in advance which exams you want to appear for. Ideally you should first make a prospective list of colleges which you would like to consider for your MBA education. Once you have finalised on the list of colleges check which exams score are been accepted/considered by these colleges in order to accept the application and also the approximate cut off percentile/percentages required.
Make sure the list of colleges that you have shortlisted does not run in a huge number, as applying to every college involves a cost w.r.t purchasing the application form of the college. Post deciding on the exams to appear, start working on the required curriculum which shall be helpful in cracking the test in the first place.
You also consider taking mock test prior to the final test date of the respective exam. However you should keep last month or two specifically for mock test; such tests will help you in preparing on your accuracy and speed skills. The mock tests will also give you an approximate estimate of where you stand with respect to the particular test and grey areas you need to work on.

6. Cracking/(Preparing for) the Group Discussion

Usually Group Discussion is the second round in the process of selection. Before appearing for the GD you must be well prepared. Topics given in the GD are spontaneous thus your advance preparation would be helpful to you during your GD process. It is advisable that first you understand the topic well and have atleast 5/6 points to talk about. Advance preparation right from the Day 1 will surely be helpful in cracking the Group Discussion. You can prepare by reading daily newspaper both National and Financial times, Magazines (any topic need not be related to national/financial issues), fictional books (novels – helpful for improving on vocabulary and creative thinking). You should also participate in mock interviews
which will help you to learn & overcome your mistakes

     7. Cracking/(Preparing for) the Personal Interview

Personal Interview will be the last and the most crucial stage in the process of your selection. You can start preparing for personal interview once you have completed with your written examination. It is advisable to start first with a set of interview questions available from different sources especially internet (this are the questions asked to students in past). However this step is just a prelude and do not expect that the same set of questions will be asked to you. Also you can appear for mock interviews and also learn from different mock interview videos available from free resources like youtube.
Key Takeaways
                a) Have a clear vision – Why MBA – How it will Help me in my career
                b) Design a well strategic approach to study the curriculum
                c) Focus on overall preparation – News/Current Affairs/Body Language
                d) Be thorough with your resume – Interviewer asks question from your resume
                e) Have a well disciplined approach towards preparation.

Contributed by Timir Palan ( Class of 2010, IBS BANGLORE )

Linkedin Profile of Timir Palan : http://in.linkedin.com/pub/timir-palan/b/287/4a3

All of us have memories of our college life and those memories only hit us once we graduate. Especially when we feel we have lost touch with our friends because of the intolerable professional work load and because our personal lives almost become non-existent. A discussion regarding our love lives with a friend over a call for hours is now replaced by busy meetings and follow-ups with clients. From chilling out and hanging around, we are now busy with business meetings and running towards achieving targets. But yes, we all have learned a lot from those college memories. Even if it is a casual conversation with friends or running after teachers for our college assignments and convincing them to mark us at par with those who had already submitted assignments on time. Most of us think it is ok to submit a bit late and some of us think that it is fine to not even submit the college assignment.

You would be surprised to know that I hardly used to make the college assignments on time. Not that I’m proud of it but now I realize the important traits that I missed by not doing what was required. I do agree that most of our teachers load our not-so-strong shoulders with tons of assignments and I also agree that it’s not easy. But it is done for a good reason. There are students who go an extra mile to complete these assignments. It can be through the fancy slides that they make, usage of interesting fonts, the kind of research work they do, the way they compile the data and give a fluent presentation to please the teacher. And most of us would just copy the assignment from such incredible students of the class, try to be a part of the presentation groups in which there can be minimal contribution, just read the slides to earn an average grade and still not give a damn(as they say). Such students would also mock those who complete the assignments and make creative presentations saying that they just aim to impress the teacher. Well, life answers all the mysteries in its own and as they say hard work never goes in vain. Trust me, it actually does not.

The games begin when all these students enter the professional world that promises them fancy salary package and job profile. When they come on board, suddenly the manager turns to that robotic machine who would load you with some intricate data which you are expect to sort and present in no time to him. He expects you to not knock his door for trivial problems and use Google and consult other colleagues (who love to see you being scolded). And then you realize that life is not as easy as running after the teachers with that effortless assignment and life is also not that casual when we did not give a damn on even submitting an assignment. Your teacher might not bother you much but when it comes to work, you are judged at each and every thing you do, from sending a mail to the font you use. And when you are paid for the work you do, the expectation is much more.

When you missed on soft skills assignments, your mail writing skills dropped. You realize it even more when you are scolded by your manager for all the incorrect mails that are sent. Your soft skills teacher would have pleasantly corrected you and you might have been praised for your mail writing skills at work. MS Excel and PowerPoint are those relatives who have been latched on to us without any choice. A presentation is an attractive and convincing tool for cracking some of the biggest loopholes in the business. The business world trusts numbers the most which is why we are expected to turn some raw data into constructive figures. This in turn could have the capability to bring in more revenue and help project us better than our competitors. This makes it very important to know how to conduct a market research and sort the complicated data via MS Excel.

Every meeting that you attend with your superiors and clients will have a different discussion and you would be expected to share some presentation or data and contribute significantly to the meeting. You are definitely not expected to jeopardize the meetings with some irrelevant data. You have to be good at MS excel, Microsoft PowerPoint and in conducting a market research. Try to remember the times you tried skipping the market research assignments and did not bother on IT assignments when all the jargons were taught with patience. You will face an entirely opposite situation at work. Maybe if you would have made up to those assignments with all passion and submitted at your best, today you would have learnt from your minor mistake and would have been recognized for the same at work.

I do agree we all learn from our mistakes. Some learn by making the mistake during the college and some carry them to work. Being casual about work is the root of all loopholes. We realize what we lost when life takes a serious turn. We take advantage of our parents’ money by not taking the assignments seriously and when the same assignments turn to submissions at work place with no delay, with a salary at the end of the rope, we get paranoid. Had it been a routine, we would be comfortable with all intricate work that we would be assigned with.

A PGPM course is designed in a manner to incorporate all those qualities in an individual to empower one with the leadership and professional skills. Adding to that, we should not forget that our faculty has worked with various organizations before taking up the profession of teaching. So, whatever assignments the professors give to the students, they have a lot of relevance in one’s future endeavors. In case one wants to shine from the very first day of the work, one should start considering college assignments as submissions at work and professors as Managers.

Contributed by Rahul Wadhwa ( Class of 2011-13, IBS GURGAON )

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” 
 – Abraham Lincoln

So now that you’ve crossed the final hurdle and received that much-awaited letter or email accepting you in the B-School of your choice, it’s time to prepare yourself with what lies ahead in store for you. Here are a few practical tips that will help you maximize your potential in your first year:

1. Take a tour of your B School

Go and visit your college before the beginning of the academic session. Familiarize yourself with the environment you are going to be spending the next two years in. Visit the library, the computer lab, the sports room and, of course, the classrooms. Meet the teachers if they’re available. It’s your chance to interact with them and strike a personal chord.  Knowing where you’re going will help lower the anxiety of a new beginning.

2. Learn to adapt

The first few days can be particularly overwhelming for some. Most batches have a diverse mix of students with different educational backgrounds and work experience. It takes time to mingle with the ones who aren’t like you or don’t share the same interests. However, one must learn to adapt and be willing to consider and respect different viewpoints of their peers. So, keep an open mind about such possibilities, even if you don’t agree to it..

3. OFFLINE Social Networking

Chances are you are already pretty active on Facebook and LinkedIn. But here we are talking about making personal offline connections. Few years down the line, your batch-mates might be influential people in different industries. So, it’s important for you to start early. Identify the ones you can learn something from and expand your horizon. But do it with a casual disposition. Invite them over for dinner sometime and get to know them better. It’s far easier to open up in a casual environment than in a classroom.

4. Keep your workflow organized

Make a system that works for you. It’s a good idea to take notes in shorthand in the lecture and then rewrite them in a different notebook at home. It is not advisable to make lengthy notes in good handwriting at the cost of missing out on what the professor is teaching. The advantage of the former is that it helps you revise what was taught and ask relevant questions in the next lecture.

Also, keep a track of all your assignments. Download an organizer app on your phone and make a log of the pending assignments with submission deadlines. Make a folder to file your assignments and other important papers. You can use color-coded stickers to categorize by subject.

Organizing gives you the confidence of being in control and prevents last minute panic.

5. Create an environment conducive to studying

Minimize distractions in your study room. For instance, avoid studying in a room with a television. Although, listening to music while studying can be a personal preference. It soothes some while for others it can distract them from the task at hand. Again, find what works the best for you.

You can also put up posters and quotes that inspire in your room. Reading them daily helps to imbibe the wisdom and can be a guiding philosophy.

Another important aspect is the actual physicality of the workspace. Keep your desk clean and clutter free. Find a chair that won’t harm your back and neck during those long periods of study. Keep your basic tools such as pens, paper clips, dictionary, thesaurus etc. at hand to avoid any disruptions.

6. Become a case study geek

There’s nothing like learning from someone else’s experience especially when you are just starting out. Dig in your college library or consult your professors to find the best reading material out there. This will especially come in handy if you’re planning to have a start-up when you finish your MBA. The more you know, the better prepared you will be.

7. Subscribe to magazines and journals

Invest in yourself. It is far more tempting to spend your pocket money on movies and eating out. Though you cannot disregard the importance of recreation, it is equally important to put aside some of your pocket money on subscribing management publications. McKinsey Quarterly and Harvard Business Review are abounding with real world business problems and how managers across the globe are coping with it. The magazines also focus on areas such as leadership, organizational change, negotiation, strategy, operations, marketing, finance, and managing people. Some of the most famous management gurus of our times are frequent contributors.

Subscribe such magazines from Day 1 of your first year and you’ll know how management principles being taught to you are applied in the real world.

8. Find the right internship

One can never emphasize enough on the importance of an internship. The key is to find the right place to intern and soak up as much as you can in those three odd months. Do your research. Don’t just skim through websites but go and meet people who work there.

The good news is that it is not necessary to intern for a big organization. Look for a company that will give you more hands on exposure. Small businesses and start-ups will be more willing to take a risk on you. Your contribution there will impact the bottom line and help you develop a portfolio of real work. Who knows they might even offer you a job once you finish your second year!

9. Keep calm and have fun

This is perhaps the most important tip of all. After all, you are not the only one who is doing this. Thousands of students share the same apprehensions and anxieties as you do. It is perfectly normal to feel this way. For most, this is the beginning of last two years of college life (unless you plan to do for a doctorate after this). The memories you make during this period will last you a lifetime. Lastly, remember that it isn’t just about being a good manager. It is also about being a good student, a good team player and a good friend.

Give it your best shot.

Contributed by Himanshu Saxena ( Class of 2007-2009, IBS GURGAON )

The anticipation of getting into B-school of our choice is very joyous. We all get excited with just the mere thought of a whole new journey. The reason not just being that these will be the last years of our student life, but we will also find ourselves standing at the main gate to enter the enticing world of the corporate. It is true because the day we decide to pursue MBA, we start dreaming about the corporate life we would want to be in. But can we decide on which department would suit us the best and which one we ultimately want to be in? Like in this case, would Finance be better or HR?

When girls join B-school, they mostly hear from others that they should consider a specialization in HR. It is assumed that girls would make better Human Resource managers because of their innate qualities such as politeness, empathy, communication skills etc. However, there are some questions that girls need to address before making a final decision. Questions such as “Is that what I see myself doing in future?”  Or “Is it right for me?”

Informed decisions are always better than following any advice blindly. Since MBA is a crucial step towards one’s professional life, all the decisions should be taken with utmost care. Especially since the professional life makes most part of the adult life.

‘What specialization should I opt for’ is a million dollar question. There is no scientific guide to decide which field is good for girls? The one and only solution to this dilemma is to find out the field of your own interest.

Let’s discuss some ways which can help you decide the specialization of your choice between MBA in Finance and an MBA in HR.

Consider Long Term Goals of Your Future

This golden rule should be considered irrespective of any specialization like Finance, HR, Marketing or IT and systems. Imagine yourself in the future and think, is this what you want? There can be many reasons for choosing one specialization over others, such as better companies, better salary packages or better opportunities. But at the end of it, all we want is to be happy. Will your decision of choosing one specialization over other be able to keep you happy in the future? If the answer is yes, you are making the right choice.

Choosing the right field this time is similar to choosing our elective subjects in high school. The only difference this time around is that it is probably the last time you would be choosing a field of your interest. Of course, there are options available for you to opt for a dual specialization or switching fields but isn’t it better if you decide beforehand? I am sure the answer is yes.

Favorite Choice of Subjects

There are always some subjects which we have enjoyed more in our school days. So the subjects that interest you the most need to be the focus here. In any business, there are majorly four functional departments, namely, Marketing and Sales, Human Resources, Operations and Finance.

Human resources and Finance are totally opposite functions. Both these functions consist of some sub functions. For e.g., in Finance there is Investment Banking, Mergers and Acquisition, Debts Market etc; whereas in Human resources there are sub functions like Learning and Development, Recruitment and Training etc.  Once you decide the specialization, you will study these sub functions in your final year of MBA. However, before choosing any specialization you should do a thorough research regarding these sub functions, so that you have certain level of clarity about your area of interest.

You can talk to your seniors and professors and then decide upon what sounds more interesting to you and what will interest you more as a career.

Explore Your Personality

Have you always loved playing with numbers? Or have you enjoyed solving people’s problems.

All of us have different personalities and traits that are enhanced as we grow. I remember my school days when I hated numbers and always avoided group studies because I knew I was not good at it. Instead, I took part in debates, plays and extracurricular activities where lots of creativity was involved. Today all those things are helping me shape my career in Marketing.

There are some things we do not enjoy doing at all. We all know what we like and as one wise man said, you should always do what you like. Before choosing and deciding what you want to pursue as a career, think wisely.

Never end up doing what you are not interested in or don’t have an affinity for. Otherwise, you will never be able to amalgamate your job and passion..

Actively Participate in Classroom Activities, College Fests and Case Studies

MBA is more about learning from experiences and events rather than gathering bookish knowledge. It is not surprising if an element of confusion still exists after weighing all the pros and cons and trying to reach a decision. In such cases, all you can do is put your best efforts to find out where your interest lies and one very interesting way to do that is by actively participating in college events.

Almost all the colleges have clubs specific to the functions, like Finance clubs, HR clubs, Marketing clubs etc. You should participate in different clubs and their activities to understand what you enjoy the most.

Case studies are one major part of any MBA curriculum and they should be, because they teach about critical events of companies and how to cope with them. Case studies are a part of daily classroom study material in B-schools and if you want to have a flourishing career for yourself, you should always take them seriously. They will not only imbibe problem solving skills in you but will also help find out your key interest areas.

Extracurricular activities are also a great way to understand your choices. You get an opportunity to interact with like-minded people who must be going through the same issues and it will benefit everyone by discussing it with each other. By talking to them and exchanging thoughts you may get clarity for yourself.

As I mentioned earlier there is no scientific guide to decide what to choose and what not to choose. Of course, there are many deciding factors but in the end, it should solely depend upon what interests you the most. You should back your decision with a rigorous research over your key interest areas to ensure a fruitful and satisfying career. One wrong decision taken today may create problems for you in the future.

Key Takeaway

MBA is a path deciding career for anyone and it is very essential for you to choose wisely. Never take any decision blindly. Of course, following your heart’s choice is recommended but if the decision involves the brain too, through sound knowledge and research, it will help you carve a dream career for yourself. After all, a decision that involves both heart and mind never goes wrong.

Contributed By : Leena Sonparate, Class of 2013, IBS Mumbai

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

So now you are nearing the completion of your graduate course, be it B. Tech, B.Sc., B.Com, B.A. etc. and wondering what to do next? May be last year you did summer training and got a flavour of a real job or maybe not. After years of schooling where you jumped from one class to another, the only real choice you made was after board exams in choosing the stream and college. You have a much difficult task at hand now. You can choose to start earning or continue studies. Even in studies there is a plethora of options. You can choose for a Masters degree in the subject like M. Tech, M.Sc., M. Com, M.A. or you would have heard people talk about this stream called MBA (Master in Business Administration) or PGDBM (Post graduate degree in Business Management).Then  what is the right choice for you?

Well, in spite of the confusing options like Baskin Robins variety of flavours in ice cream, the first move should be to take a step back and understand your financial situation, aspirations in life and your personality and nature.

Situation: The first and foremost consideration is your financial situation. Most of the courses in private colleges range from Rs 2 lacs upwards per annum. Apart from this, there would be overhead expenses for boarding, lodging, books, some expenses on projects (undertaken during the 2-3 year course) etc. In case you have already taken loan during your graduation or will now require taking a loan to finance your studies then you have to dwell on this decision a tad more cautiously. You must be sure that after graduation from the PG course, your value in the market should be worth the investment of these two-three years.

Aspirations in life: In case you are a subject matter expert (SME) kind of a person who has enjoyed his/her subject and enjoy the technicalities of the subject then it makes more sense to dive in a Masters course or straight-away take up a job. It lets you experience the application of theory in the real world. However, if you are the kind of person who enjoyed the subject but do not see yourself applying in real life by taking it up professionally, then you may keep you undergraduate qualification as your base and move to a management course of MBA or PGDBM. Such courses while utilizing your base qualification requires application of same in the real world in a more general sense. Common options in a MBA/PGDBM course are in Marketing, Finance, HR, General MBA among others. To quote my own example, I am a B. Tech in Computer science stream and did my MBA in marketing. My first job was in HCL infosystems Ltd. where I was in sales team pitching for ‘Total Outsourcing’ of IT infrastructure as well as sales of security systems like bio-metric attendance and visual recording system. My base qualification in Computer Science made me comfortable in the sector though I may not know much about this area. How I learnt, through falling and getting up is story for a future blog.

Nature: One of the key parameter, though slightly linked to above but nevertheless important, is your nature. By nature, I mean how comfortable you are in interacting with others. A management degree would more often than not land you in a job that constantly requires interacting with people. Presentations and making decisions become the part of routine. This does not in any way mean that all introverts go to technical field and extroverts are fit for management. Many things are picked up during the course of professional career and technical people too manage a team of people as project leaders. Project leaders interact, manage and drive the team and update the customers as well. Management guys may be good in their subjects and play the role of manager as well as subject matter expert based on their work and experience. The main role of a management graduate is to plan and manage work, driving people and getting things done in a timely manner and with the resources available. A manager in finance or HR for example would have to find ways of saving cost or meeting recruitment targets even if the traditional methods are not working out and would need to look within the sector, outside it or maybe some other way to meet the requirements. Often this also requires not wearing technical person’s hat even though you may know a lot about the specific field.

Another school of thought, which is slightly risky, especially here in India, is to do a job for a few years and then join MBA/PGDBM course. Why it is risky you ask? It is because once we become habitual of a steady income of our own, it is difficult to leave it and go back to the classroom. However, in the West most colleges do give huge value to work experience. Once you have seen the professional life, it is easier to relate to concepts and situations covered during the curriculum.

A word of caution here though – when you ask various people you get so confused that at the end of the day you find yourself stuck at the exact spot where you were in the morning. Discuss with parents, friends and seniors but just to hear out their views. Don’t rely on them entirely to make a decision for you. Taking your own decision, after all, is one of the key steps of growing up, isn’t it?

In conclusion, any post graduate course helps you, including the MBA/PGDBM course. However avoid falling trap to peer pressure or choose what most of your friends are choosing. Based on the few broad points listed above, choose what is right for you. And once you have made up your mind just walk the talk. As one of my senior colleague who is a consultant from USA says and I quote “That’s my story and I’m sticking to it!!!”

Contributed by Vaibhav Agarwal ( Class of 2006, IBS GURGAON )

Linkedin Profile of Vaibhav Agarwal : in.linkedin.com/pub/vaibhav-agarwal/8/683/a6a/

Since the past few years, the value of an MBA/Master’s degree may have dipped a few notches due to the global economic down turn. Many people lost their jobs and most are still searching for one. There are quite a few questions that are still unanswered in the minds of people, especially those who have been considering doing an MBA.

These are a few questions that would hound an MBA aspirant and they would look for a logical explanation to the following questions:

• Does an MBA degree actually help in shaping the career of a student?
• Is it worth spending lakhs of rupees just for an MBA degree?
• Does MBA college act as a money making machine for their trustees or Directors?

Unfortunately questions like these will never end. However, the answer is pretty straightforward, which is, – Perception. It is how you perceive things and situations around you that matter the most. This can also be termed in one word as Attitude. All these questions arise in the mind of the public because of their perception.  Generally, the public’s perception of any college degree revolves mainly around the salary – what kind of starting salary would the students get after the completion of the degree? What is the highest starting salary and what is the average salary after completion of the degree? The students don’t pursue a degree just to get a high starting salary. Instead, they pursue it to have a good career. If you choose any graduation or post graduation degree just for the ‘good salary’ aspect, then probably you have already taken the first wrong step. If you start your MBA with the focus just on the end result, there may be chances of it hindering your efforts at times. However, if you work to achieve excellence in your studies, then it can lead to a better career rather than placing all your energy and efforts on the final result. There is a perennial debate between what is more important – The path of the journey or the end destination? There is no clear answer for the same.

The most important question from all these above questions is – Is it worth enough to spend lakhs of Rupees for a Master’s Degree?

To answer the above question it is necessary to know the cost behind a Master’s degree.

Financial cost:-

To get an admission in a good Master’s/MBA college, attending coaching classes is essential to crack their entrance exam (CAT/GMAT).  Once that is done, there are numerous fees that need to be paid, some of which include application fees, GD/PI cost and Admission fee.

The total cost will be around 20 – 25 lakhs for tier 1 B –School and 8-10 lakhs for tier 2 B – School. For an International Master’s degree, it will cost you around 30-35 lakhs.

Social Cost:-

Staying away from family for 2 or more years and living in a completely different environment will add on to the expenses that one needs to incur.

The total expenditure for a master’s degree is probably high but can prove a better investment in future.

”Money spent for education always reaps better benefits in the future”.

The main purpose of a Master’s degree is to gain an in-depth knowledge in a particular field and finding different ways to apply those theories in practical life. A Master’s degree doesn’t only give you bookish knowledge but also teaches you the practical implications of the same in the global business world. It also teaches discipline and practicality which can be considered as some of the most important aspects of personal life too, apart from just the professional. It gives a glimpse of the society and the world in which we live and are currently surrounded by. It equips every student with industry relevant skills, enhances his capabilities and imparts a spirit of entrepreneurship as well. Some people perceive that spending lakhs of money for a Master’s degree is not worth it as it is better to save that money and rather get regular returns. To everyone who asks has this notion in mind, here is one question for you to consider – Is the investment more beneficial than your career?

Probably in the initial stages, after completion of the degree, the student may not receive a high starting salary. The future, though, will hold a different scenario as the knowledge gained during the course of the MBA will ensure a successful and a bright career.

“An investment in Knowledge pays best interest”.

An MBA imparts many valuable lessons to all the students. These life lessons can be incorporated in both professional as well as personal life. Different electives are offered which heightens the expertise of a student in that field. Let us see some of them.

• Management Skills: – Apart from on structural variations of different organization, the MBA curriculum will focus on general principles of administration, efficient handling of risk, principles of leadership and team building.
• Operations management: With its focus on production and its overall planning, a specialized approach to management of operations will help you gain a thorough access into the principles of quality control, management along with control of inventory as well as supply chain.
• Finance and accounting: – With its detailed focus on theory, principles and guidelines of accounting, Master’s in accounting helps you understand the importance of cost control and its effect on an organization’s strategic planning and that of production. After this specialization, you can make a great headway in highly competitive banking sector.
• Human Resource: – For grooming the skills of man and interpersonal management, an MBA degree is extremely beneficial. It also helps you to get an insight into industrial and labour laws.

Monetary benefits:

• If you study from a good college and are conceptually sound with all the basics, then you can be assured of good salary in addition to a good profile to kick-start your career.
• If you have learned good entrepreneur skills, then you may even start your own venture. Like Rajiv Bansal, the CEO of Flipkart.

NonMonetary benefits:

• Studying MBA from a recognized and reputed college gives you a great brand value.
• It opens up the career path for you in the field you want to make a long lasting and successful career.
• The networking opportunity it offers within the alumni, experts of different fields, top industrialists, professors adds a value that cannot be measured by money.

“If you give a fish to a person you feed him for a day, if you teach him how to fish you feed him for a lifetime”.

A good Masters degree teaches you ‘how to fish’, which in turn can help you learn and grow in life. If you excel in your studies, then sky is the limit to what you can achieve.

We have quite a few examples of those who gained immense knowledge from their degree and are currently leading one of the largest business houses of the world.

• Warren buffet, Chairman of Berkshire Hathaway, Alumnus of Columbia Business School, New York Institute of Finance
• Ratan Tata, Chairman of Tata Sons, Alumnus of Harvard Business School
• Azim Premji, Chairman of Wipro, Alumnus of Stanford University.

If you wish to see your name amongst these renowned ones, then don’t think twice about pursuing an MBA degree. Investing in it would be one of the wisest decisions that you will ever take. It will open up numerous avenues where you can excel and contribute to the business world.

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

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