Mistakes One Ought to Commit During MBA

Posted on January 19, 2015 by IBS India

Life involves learning at all stages and we should learn from everything, everyone we can. And mistakes are a very important part of learning. They’re the best teachers one can have. It would seem like a catch-22 situation to not want to make mistakes but also wanting to learn something valuable from mistakes.

Yes, some would say that experience would prevent one from making mistakes but if one goes through just good experiences, they lose out on learning important lessons. He or she can be lucky enough not to make any mistakes but luck always runs out. What don’t run out are lessons you learn by making mistakes.

It’s really important to understand what qualifies as a ‘mistake’. It can be defined as an unwanted event which occurs unexpectedly. But when it’s repeated time and again, it no longer remains a mistake but can be labelled as a habit. Forgetting to switch your cell phone to silent mode before a class is a mistake if it happens once. It becomes a habit if repeated and the professor isn’t going to be your biggest fan if it happens time and again. You trusting someone with a secret can be a mistake but if you do it just after he’s spilled out someone else’s secret to you cannot be considered as a mistake. So, you see it’s really important to understand what really a mistake is and when we do make one, we need to make sure that it’s not repeated.

During any process of learning, one is bound to make several mistakes and one should. If you’re scared of making one then you’re not going to learn what you’re supposed to. You need to shed away your fear of failure and do what you have to move forward in life. And one aspect of that committing a mistake. During your MBA, there are going to be several instances where you’ll be in a dilemma because you wouldn’t know the right way to handle a situation. But don’t be scared, do what you think is the right thing to do and if you’re not successful at first, learn from your mistakes and try again. Maybe you’ll fail the second time too but make sure that you’re not making the same mistake twice. Yeah, one should make new mistakes every time if one has to learn. So, here are a few mistakes one ought to make during MBA:

Not going by the book: Every movie or television series you watch will have one thing in common. The protagonist never follows the rules. He/she goes out of the bookish rules and does what he/she feels is the right thing to do. And what happens in the end? Through a series of failures emerges a hero. Similarly, your books will tell you a thousand things but you need to understand that the situation that you’re going to be stuck in isn’t necessarily going to be one in your book. What your book tells you is something that has already been tried and tested. A problem that has already been dealt with. But MBA isn’t about dealing with problems with existing solutions, it’s about thinking outside the box to find solutions to problems that exist today without a solution. Or even there is one, it’s never too late to find a better one.Your professor may grade you a little lower but life will always give you an A. The likes of Bill Gates and Mark Zuckerberg were never the toppers of their classes. But they’re highly successful in their respective fields today, and that’s what matters once you step out those classrooms. So, use your grey matter to become an effective manager. Having said that, you’ll need books to form a strong foundation for your thinking process. Nobody consciously bases their marketing strategy using the 4 Ps or doing a SWOT analysis but the core idea behind all strategies is what they learnt from the books.
Being an over pampered spoilt brat: By the time you start your post graduation, you’re old enough to take care of your responsibilities but there always exists ‘’another you’ who was either pampered a lot in childhood or wants to be pampered. Honestly, it’s ok to be like that. Because the first time that you’ll cook will be for you and out of hunger. You’ll realise the importance of that job and you will value it for the rest of your life. Similarly, the first time you clean your room, wash your clothes, iron them will teach you that even though these chores seem mundane and were left to either to your mother or the house servant when you were back home, they are actually important if you want to live a healthy life. You don’t always get what you want and that fact is not going to be embedded in your mind unless you’re made to earn what you want. Being over pampered earlier will be a big blow to you when you have to become responsible. And one needs to take a few blows to toughen the skin.
Trusting someone instantly: Trust is one thing that takes time to build up over the years but takes an instant to be shattered. As a teenager, you may have had loads of trustworthy friends but as you grow your priorities will change and the ‘secrets’ may be more crucial than those in the teenage world. You may tell yourself a thousand times that you’re not going to trust someone but you will do it eventually. But, back then it was about relationships that were made based on trivial reasons. But now that you’re all grown up and ready to become a manager, you need to understand what you have to keep to yourself and what to divulge. The world is not a fairy-tale and sadly no course in the world teaches you that. Everybody will say that you have to be competitive but you’re not going to be that unless you learn why. The population of the world is increasing at an alarming rate and with that the fight for resources is increasing too. Everybody wants to know what YOU are doing to sustain yourself so that they can use that information to cut you off from the resources or just mimic you. Either way, you lose. But you cannot understand how to defend yourself unless you learn how to manage the gossipers to your advantage. And the only way to learn that is to trust one.

So, these are just a few mistakes I committed during my MBA and thank God I did. There are a million more and I wish you make them but just once so that your management education can be really fruitful and help you become a better person rather than a manager.

After all, it would be better to make those mistakes within a college campus rather than a corporate office sitting in the manager’s chair!

Contributed by Sachin Jalan (Class of 2014, IBS HYDERABAD )

Creating Creatively

Posted on December 31, 2014 by IBS India

It may be hard for an egg to turn into a bird: it would be a jolly sight harder for it to learn to fly while remaining an egg. We are like eggs at present. And you cannot go on indefinitely being just an ordinary, decent egg. We must be hatched or go bad. – C. S. Lewis

We are repeatedly told that in a day and age where ‘change’ is the only constant, the ones unwilling to embrace it are sure to be left behind.

This raises some obvious questions.

Would it not be infinitely easier to just work within a set of boundaries that must never be crossed?

Isn’t it more rational to follow a successful standardized method instead of concentrating on customization?

No doubt it is tempting to follow a set of routine and emergency guidelines, but what happens when the ever-changing market dynamics interferes with and limits your resources and desired output?

Here is where Creative Management surpasses Traditional Management in a business setting.

Often confused with creativity management (which is the management of creative thinking skills and other mental processes), creative management celebrates creativity and innovation in the business processes.

What is creativity?

Is it Originality?

Imagination?

Inspiration?

Resourcefulness?

We know that both innovation and creativity intend value creation and innovation without creativity is unheard of.

Ideas have little value unless applied. If ideas exist but no action is taken, it is imagination we are left with, not creativity.

Peter Cook, of Beverley Gardens, Maidenhead, had an idea and he pursued it. He innovated to benefit homes prone to flooding. The new product is a natural jute bag containing a super-absorbent polymer weighing only 400g. When placed in contact with water it absorbs the liquid and expands to 32 times its size. Peter creatively managed to effectively prevent indoor-flooding.

For our purposes, creativity can be defined as concurrent problem identification and idea generation whereas innovation can be defined as creative idea selection, development and commercialization.

Creativity in management decisions and processes make incumbent businesses and new entrants stand out from their competitors ensuring more market share.

Sternberg & Lubart, in their signature work Defying the Crowd tell us – A product is creative when it is a) Novel and b) Appropriate.

An innovation can have a long-term impact but the creative managers need to ensure that an immediate need for it exists.

The process of creativity in Management is the ability to perceive things in new ways by questioning assumptions, reasoning, synthesizing information by finding hidden patterns and connections, taking calculated risks, modifying or creating product, service or process; all with passion, commitment and agility.

The Traditional (or Classic) approach views creativity as a deliberately managed process. In both Classic and Creative Approaches, it is up to the management to set frontiers or boundaries while managing organizational change. The initiation of change however is not as big a taboo in the latter.

The biggest problem with the Classic approach is that it fails at proper crisis management in spite of being a consistent and “tried & tested” approach.

Simply stated, new problems usually require new solutions. Keep up or perish.

In the case of creative management, crisis produces challenges that must be taken on as a risk or chance, demoting the status of crisis from that of threat to an opportunity. In short, crisis becomes the catalyst for potential positive change.

The change can be approached as either sustaining or disruptive.

Sustaining Creative Management needs more structure and focuses on doing things better. Disruptive Creative management isn’t too wedded to the existing system and believes in doing things differently.

There are various factors that must be considered before deciding the most suitable approach at any given period of time.

Innovation impulses arise out of the internal environment and external environment. ** They originate out of unexpected events, contradiction, change of work process, change in the structure of industry, demographic changes as well as changes in the worldview and new knowledge.*

IBM’s 2010 Global CEO Study states, “The effects of rising complexity calls for CEOs and their teams to lead with bold creativity, connect with customers in imaginative ways and design their operations for speed and flexibility to position their organizations for twenty-first century success.”

Creative Managements chase insights that help them to connect more resolutely with their target audience. In the Marketing scenario, modern marketers create the intended perception by constructing a web of associations and targeting the creative consumption.

Social Media Advertising is just the tip of the iceberg. Anything from innovative packaging to a discount deal can assist in moulding the brand image as planned.

A Successful Innovating Company is quite easy to spot. It has an aura of collective creative consciousness, which pervades throughout the organization and into the hearts and minds of their consumers.

It manifests as motivation and creativity of employees throughout all sectors. Each employee heartily takes up the oft-silent pledge to do by the greater good of their organization and commit to teamwork. The love is reciprocated by the organization to its employees. There is a focus on continued creative education and wellbeing of the employees.

No stone is left unturned towards the possibility of further innovation and new opportunities for creative change. All alternatives are investigated before employing any new idea through systematic Research and Development.

A Successful Innovating Company conquers the markets using a project-based approach with a healthy rate of risk taking. It carries the talent to legally finance the innovation activities and does not hesitate to cooperate with external experts when required.

Since the Creative Approach focuses on using the limited resources in the most effective manner, it has become the go-to style of budding entrepreneurs today. Creative start-ups adopt this Management style to make a lasting first impression and to nudge it in the desired direction.

Creatively managed Businesses mba graduates understand their customer like an old acquaintance would, making the most of the insights collected, providing value (and striving to provide more) where earlier there was little or none.

Creative Management envisions and takes steps towards a glorious future, yet is proactive when it senses the winds shifting.

It is always on its toes, strategically choreographing its moves and simultaneously dancing in tune with the market rhythm to the delight of consumers and the awe of its competitors.

Believe you can change the world. Work quickly, keep the tools unlocked, work whenever.

Know when to work alone and when to work together.

Share – tools, ideas. Trust your colleagues.

No politics. No bureaucracy. (These are ridiculous in a garage.)

The customer defines a job well done.

Radical ideas are not bad ideas. Invent different ways of working. Make a contribution every day. If it doesn’t contribute, it doesn’t leave the garage. Believe that together we can do anything.

Invent.

-1999 HP Annual Report

**Internal: Own R&D department, technical division, production divisions, marketing and sales, logistics, guarantee and post-guarantee service, owners; External: customers, suppliers, competitors, consultants, R&D institutions, schools, universities, professional publications, Internet, exhibitions, fairs, specialized seminars and conferences, advertising agencies, investors, media, authorized testing labs, certification agencies, state institutions and public sector, legislation, globalization.

*Seven sources of Innovation impulses by Drucker.

We will be discussing in our following posts the tools used for creative management in an organization, the characteristics of a Creative Manager and how Creativity is a discipline, which can be learnt.

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

”How to choose the relevant subjects during MBA”

Posted on December 17, 2014 by IBS India

So, finally you have decided to shift your career to the fast lane by adding the MBA degree to your career and we are happy to hear that you have chosen IBS as your preferred MBA Partner.

And now the time comes for the second most critical step. Which subject to choose and why?

At IBS, this critical question is approached with the utmost care, which is exactly why we are among the best in the colleges in terms of providing the assortment of subjects during our MBA Program.

Choosing the relevant subject during MBA can easily be decided by three step expertise:-

Step One: Your subject till Graduation!

You should look back and consider all those subjects you have studied till graduation. How well have you done in your graduation in those subjects? Were those subjects to your liking or not? If the answer is: I did fairly well and yes I liked the subjects in my graduation, then you should continue to study those subjects in an advanced module during your MBA and get a total know how of those subjects. If the answer is otherwise, you should sit down, talk to your friends and fellow students, take help of your teachers and seniors and should not hurry to choose your subjects.

Step Two: Exploring the Options and Become Multi-Master!

Many a times you would have come across people who would have pursue subjects which they had never studied in their student life before. Such people want to study and experience those subjects to give their career a second or a back-up choice. However, as per the adage goes “Jack of all trade and master of none“ be careful of choosing many subjects. Trying to specialize in too many subjects might result in you having just a superficial knowledge and expertise in none.

Sometimes most of the students have no option but to choose different subjects with respect to what they have already studied in their graduation. For e.g. an engineering student from the fields of Mechanical, Civil or Electrical do not have relevant subjects that they have already studied in a MBA curriculum, but an MBA Degree would definitely add to their resume. They should not consider themselves a minority as compared to all those who have done BBA and have now joined MBA, but it would be wise for the engineering students to focus on subjects such as Sales, Marketing and Operations as there is huge demand in the market for those who specialize in these fields.

Step Three: What do you want to do after MBA?

Even though it’s the last step but the most critical and important factor as it will help you differentiate yourself from rest of the others.

When a student joins the MBA Program, every parent starts dreaming that after 2 years their child will join a big multinational firm or some company is going to hire them for a project overseas. There is absolutely no harm in seeing those dreams but it actually depends on whether you want to join an MNC or are you brave enough to become an entrepreneur after your MBA.

Richard Branson knew he wanted to be an entrepreneur at a very early age, as do many successful business people in every sector of the economy. Some people, it seems, know what they want to do almost from birth and cannot wait to start doing it. If you know your strengths, whether it be in entrepreneurship, finance or general management, and more importantly, you want to build on them, doing an MBA is an excellent means of achieving your goal.

“My MBA was a catalyst for helping me develop my entrepreneurial spirit and skills, and it gave me the confidence to pursue my career,” said Elena Ambrosiadou, Cranfield MBA student in the Class of 1988 who is currently CEO of IKOS Partners. “It taught me how to build and maintain an international network of friends and how to seek out creativity and opportunity. It also taught me about leadership, teamwork and decision-making.”

I am pretty sure that while doing your MBA you will be able to figure out your strengths and weaknesses in a much better way. By the end of the fourth semester you would be clear in your mind as to what you have to do after MBA and which subjects will help you in getting there. Or else if you want, you can take help of our Alumni network which has been our hallmark for years now.

For e.g. if you are an engineer and want to pursue your career in the automobile Industry, then you should choose operations as elective along with the Marketing and this will help give your career a head start in a much progressive way and also help you build your future in the same profile.

Similarly, if you are a finance graduate and want to become a core financial professional then choose Finance as your elective. In addition to the MBA Programme, you can also choose our CFA Course, which will help shape your career as a Financial Professional.

If you are a BBA graduate, choosing MBA subjects would be a rather simple task, because if you want your career to move ahead in a rather well managed and professional way, you are being offered the best in class Management subjects.

If you want to take your career in the manpower space, then you are welcome to choose the MBA Program in Human Resource Management which will give you the definite edge in the current Human Resources Space.

I would like you to go through the list of the subjects which we offer during our MBA Program.

Please visit our website for the same and with a thorough research on the same, choosing the subjects would be really simplified. Please visit using the link: http://www.ibshyderabad.org/MBA.htm

In the end, I would like to stress on the fact that although it is important to choose your favourite subjects during the MBA Program, it is more important is to keep your goal very clear from the day one.

An MBA Program is just a means to help you become a confident and brilliant manager who can manage time and resource well as compare to others. Focus on your goals, strengths and aspirations in deciding the best subjects you should learn during your MBA.

All the Best!

Contributed by Himanshu Chaudhary ( Class of 2003-05, IBS HYDERABAD )

How an MBA has changed my life ?

Posted on December 12, 2014 by IBS India

MBA has come out like a silver lining for me. After putting my heart and soul in engineering, I found the software jobs too ‘geeky’ for me. I searched for many options to pursue my masters in. After all my soul searching and guidance from my mentors, I decided to pursue MBA. This decision pulled my heart and head in different directions as I was unsure of my knowledge for commerce subjects but I kept self-confidence intact and I was very motivated.

I could foresee the kind of jobs that MBA can offer. I started looking out for colleges and universities with their respective exams. After putting in all the efforts and knowledge, I took admission into IBS Gurgaon. The entire PGPM program was very promising, I soon realized I was amidst talented individuals who are ambitious and aspire to be successful in their life. They were so enthusiastic and had so many ideas in them.

I entered the program with both trepidation and excitement. It was an overwhelming experience for me. From the first class we were taught to work as a team and to be a good team player. The classroom knowledge at IBS has provided good groundwork for me to pursue a management career. My projects and internships taught me about the real world of business and about its people and challenges. Together they transformed me from a technical engineer into a marketable and people- minded manager who can look into a broader picture.

The case-study model assisted me to think as a top management team trying to solve company’s problems in the real world. The class participation helped me to be more vocal about my ideas and opinions. IBS faculties are at par with other colleges like FORE and MDI as their knowledge is commendable. My entire experience gave a direction to my career as I soon realized my strengths and weaknesses. I liked the idea of presenting projects in each subject in every semester. MBA has a lot of variety in it. It grooms you completely in every way. Be it your soft skills or hard skills.

The major challenges which I faced in MBA were in terms of subjects which were new for me as I was from an engineering background. Yet I took help of my peers and learned a lot from them. It was great learning in a group of different people who had different cultures, mindset and backgrounds. Each subject helped me gain a better understanding of micro as well as macro concepts, such as how a company works, extending to how a country works. I passed all my exams with good marks and I was even more motivated and driven. I felt confident as my faculties inspired me to achieve everything I dreamt of.

My MBA journey doesn’t end with this. I was a member of Student Council as well in my college which helped me discover hidden qualities in me. For instance, when I was the head of the HR club, we worked for HR Club named Ethnos. Together as a team we organized many events at our annual fest. It gives a great sense of achievement when you organize an event and it is successful. With each passing mile stone I gained a lot of confidence in me and groomed myself in every aspect. I gained immense knowledge which showed me the world when initially I felt as if I was living in a shell.

When we had to choose our specialization, I chose to pursue marketing since I found it very interesting and within the realm of my strengths. It has provided me immense knowledge of various companies and their marketing strategies. It gives you ample exposure to today’s world and trends. Brand management was my favourite subject and the way we used to study made it more interesting. During the course of my MBA I accomplished projects which involved meeting new people, leaning from their experience and gaining through sharing. Marketing subjects were most interesting and required a creative eye to look at things which were happening around.

During my summer internship with Ambuja Cements, a leading cement manufacturing company, I got to know that my MBA education is very well applicable in corporate world in a practical manner. A lot of time people do say whatever you learn theoretically is not applicable but I found otherwise. You learn and you implement. I understood their marketing and sales strategies with concepts I learned in my classes.

For my placement season we were well guided by our faculty through mock interviews, group discussions and aptitude. They trained us in every manner so that we excel in interviews of our dream companies. Each session included a fair feedback from faculty members which showed an actual mirror of my strengths and weakness. They polished me to shine brighter in corporate world. They taught us every aspect of corporate world.

Soon placement season began with great enthusiasm and vigour. I was so glad to get into HCL technologies as it was exactly what I wanted. In the final days of my MBA, I learned how much I have gained through this entire program. I got to know many knowledgeable people around me, learned from their experiences at work.

So overall, I have had two hectic and intense years during which I learned a great amount of knowledge. I had a stable career path and I saw an incredible change in my personality. Along with all these, I built a substantially strong network and close friendships.

I found my decision to be fruitful and worthy of all my efforts. I would not be that happy if I would have chosen any other career option. I feel content and thankful to my college and faculty members for their constant support and guidance and for making me a better person overall.

Now, I am a different and a better person. You always have a scope of evolving yourself and MBA has done that for me. Today I am working with HCL Technologies as a loyal employee dedicated towards my work and soon will climb up the ranks of corporate hierarchy. For all who are looking at MBA as an option for post graduation degree, it will make you more dynamic, driven and focused. You will develop a positive attitude and it will broaden your horizon of thinking. It will help you in networking, people management and may help you in starting up your own business.

In MBA, you will gain ample knowledge of what it takes to make companies work and how to identify great business ideas. It will give you a real world scenario and experience. You will be more competitive to face new challenges in companies. If you dream big and aspire to sore high, then MBA will give you wings!

Contributed by Sonali Jain ( Class of 2012-2014, IBS GURGAON )

Why MBA Professionals Earn the Big Bucks

Posted on December 9, 2014 by IBS India

“So why do MBA professionals earn the big bucks?” This was a question that came from my curious 16 year old niece over a dinner table conversation. She overheard excited conversation among the elders of the house about IIM grads making headlines with packages starting at a Crore – something that was quite unheard of in their times.

Given the impressionable mind of a teenager, she got excited about the opportunities a management career had to offer and was already toying with the idea of pursuing it in the near future. I started to answer, “They are highly paid because…” and realized the answer wasn’t a simple one. MBA certainly offers a wide bouquet of business skills and experiences and not mere hard skills. It is also unique as it enables graduates from diverse educational backgrounds to develop a business perspective. These transitions of ordinary graduates to astute business managers are what attract various companies to seek out MBAs!

Being an MBA myself, the discussion soon turned into introspection as well as a memory trip to my B-School days, placements season and the first few years in the corporate world. Needless to mention, our conversation continued well into the night. Over the next few days, I rolled the question over and over in my mind. Come to think of it “What DOES an MBA degree offer that appears lucrative and valued to most employers?”

Below is a list of my Top 5 that makes MBAs such a deemed degree.

Business Driven Mindset : Generalist Vs. Specialist

Like a typical Indian MBA student, I hold an engineering degree as well. While the Engineering degree gave me a technical skill-set, my management education clearly broadened my horizons with an all encompassing business-centric perspective!

At times I wonder how life would have turned out if I had pursued an M.Tech. I can safely assume that I would have led technical teams in the future. With the lady luck smiling down, I might have even got a Head level position in, yes you guessed it right, a technical division!

As opposed to specialized courses, MBAs are groomed to think like business owners. Right from accounting basics, to planning corporate finance, marketing, sales and distribution, MBA graduates learn it all. This knowledge of the entire business value chain is what makes MBAs the best generalists, and eventually, the most suited to lead in CXO positions!

Case Studies to “Live” Business Challenges

For the things we have to learn before we can do them, we learn by doing them”. Aristotle may well be talking about cracking business case studies! For MBAs, everything is a business case – be it evaluating and solving situations that real life businesses face or analyzing things like Aamir Khan does right as a leader in Lagaan.

A by-product of adopting this approach is the development of constructive and structured thinking. MBAs learn to analyse business scenarios in models – identifying key business drivers, categorizing micro and macro factors, process orientation, correlating multiple variables, decision trees, root-cause analysis etc. This modular thinking coupled with the ability to view the business challenge in its entirety is a crucial asset for any organization. It’s like a hawk that views the landscape from 30,000 feet, yet knows when the prey is hiding under a rock.

The Job before THE JOB :

Internships are to an MBA graduate what ‘pilot projects’ are to the management. Both give room to test new waters, provide valuable learning, know the challenges and prepare you for what you shouldn’t do. An internship constitutes of a real business project which may range from new market entry strategy, new product concepts, market research etc. These activities translate into actions for the organization which impacts business in the real world.

This remarkable phase in an MBA student’s life not only teaches them how organizations function, but is a brilliant opportunity to commit mistakes and learn from corporate mentors before stepping into the corporate full-time. It also gives them a live breeding ground to test key management theories. An additional benefit is that they get to work across business functions to gain a holistic understanding. If utilized well, this opportunity can catapult them from building knowledge to building a network; i.e. what you know to who you know. The cherry on the cake of most MBA internships is that pay a fixed stipend. There is also a significant chance that the internships may materialize into full time job opportunities.

The “TEAM MANTRA”

It will be fair to say that almost every MBA course includes team projects and values group accountability. That is precisely how organizations grow!

Be it handling industry interaction during placement season, organizing B-school events or the urge to have the best people on your side to be strong contenders in B-plan contests; MBA exposes you to the secret sauce of team dynamics. Not only does it train you to work along with people, it also shows you that when teams come together, great results are delivered.

COMMUNICATE. CONVINCE. CLIMB

This aptly conveys the journey up a corporate ladder! A powerful skill that MBA teaches is “how to sell your idea”. From successfully pitching a new product idea to presenting a strategic plan to the top management, you need to communicate well and convince the audience to back you up. Employers want excellent communication skills in new recruits.

When companies come across a job candidate with MBA or PGPM degree, they assume that you come equipped with strong communication and interpersonal skills to effectively communicate within the organization.

Companies are in a continuous process of shoring up their talent and leadership pipelines; they need managers with not just domain skills but excellent communication skills to be effective leaders!

I conveyed all these reasons to my niece and now hopefully a new MBA aspirant is in the making. Not that anyone’s complaining!

Contributed by Japneet Singh ( Class of 2005, IBS GURGAON )

Career Options in India

Posted on December 8, 2014 by IBS India

As one of my favourite authors Chandrakant Bakshi rightly said once that every young man who is about 25 years old have to answer three fundamental questions of life.

Selection of right career
Selection of right life partner and
Selection of right Dharma (how does he want to live his life)

Yes, I know and understand the difficulty while answering each of above questions. However, here I want to restrict myself to only first question, i.e. selection of right career. This becomes the most important question of life. Though I am a strong believer that even if you end up with the wrong selection, the life does not stop! But it is important to go for the right one from the beginning and not to leave any chance for any wrong selection.

The difficulty of being a student and that too a graduate is just atrocious! I can see a hamlet in every fresher graduate who is always in confusion about his or her career options.

Let’s begin with commerce graduates. Their confusion would be to opt for management study? Or for professional courses like CFA? Or to go for evergreen professions like Chartered Accountant? Or to prepare for competitive exams and appear in various governments entrance exams to get a government job.

Further, it becomes all the more difficult for engineering students who have to select the field they want to pursue their Masters in. Should they continue with the same field of their graduation or opt for something different that promises a good career. A good offer is expected if you are from a good college. So you have to apply micro economics 101(oops, is it too early?) and evaluate opportunity cost of leaving that job offer and to go for master degree?

For science graduates such as B. Pharma or B.Scs, it is can be harder to select their master’s degree. They have to decide whether they want to continue in science field and do Pharma or M.Sc or opt for a PHD? However, I don’t think that MBBS students would face any of these issues as they are different class of people and they do not live in any dilemma.

But believe me, it is easier said than done and it’s a solid dilemma wherein very few people actually can guide you, except yourself. Further, this becomes all the more difficult if you are dating someone since your college days and the sheer pain of leaving that someone special is making you so nervous and you cannot think anything else.

Anyways, let’s get back to some serious business as you have to find an answer for yourself. But before that I want to make you think so as to help you in selecting a right option for you.

To start off, observe and think what has changed in India in recent times. The way our businesses runs, work is done, the functioning of government, a change in technology, etc. Just about everything has changed at such a rapid speed that that we can’t ignore them.

In 1991, Dr. Manmohan Singh initiated reforms and freed up India from license raj and indicated for an open economy, the sleeping entrepreneurship of this country arose. Indian economy started functioning in full throttle and business environment became more vibrant. Private sector became an integral part of the economy. In addition, foreign multinationals started investing in India to capture a huge market. Furthermore, since the beginning of the 21st century, India has started shining, although backed by a global growth phenomenon.

All of these factors discussed above created huge demand for professionals with specific skill sets. The manpower that possesses knowledge of various subjects can run any business professionally. There was a huge shortage of manpower of that calibre in this country for a long time. Thus, a new era started in which abundant opportunities became available for people who possessed such skill sets.

Can anyone guess which academic course in India provides knowledge of various subjects relevant to business in shortest time period? Yes, my friends, your answer is correct, MBA.

You might be aware that MBAs offer various specializations, mainly in the field of Finance, Marketing, Human Resource, Information Technology, Operations. Let us look at a brief summary of the potential opportunity for each of the specialization as shown below.

Specialization	Areas to be strengthen during MBA	Opportunities
Finance	Sound general knowledge, Good communication skills, Command in reasoning, Logic, Well versed with all the subjects of finance and daily reading of one financial daily, Strong hold on MS Excel, Power point and Word	Public and private sector banks (Indian as well as foreign) Investment banks, NBFCs, Insurance companies, Public sector units, Consulting, Industry and Corporates, KPOs, High end back offices of foreign multinationals, Education
Marketing	Well versed in marketing subjects, Good communication skills, Reading of one newspaper, Creativity, Willingness to travel MS Excel, Power point and word	Market research firms, Advertisement agencies, PR department of corporates, Firms providing marketing support, FMCG companies, Financial Institutions like banks, Insurance companies, NBFCs, Industry and corporates, Education
Human Resource	Good communication skills, MS Excel, Power point and word, Soft skills, Knowledge of labour laws and regulations etc.	Recruitment firms, Industry and corporates, Financial institutions, Training and coaching institutes Education
Information Technology,Supply Chain and Operations	Well versed in IT.	IT companies, IT departments of industry, corporate and government, financial institutionsLogistic companies, government, industry and corporates, Education, Government jobs, Industry and Corporates

The list goes on. But two things are certain that there will always be lot of demand for an MBA in future as India is the place for business and lots of MNCs are venturing into India. So don’t worry about a job opportunity.

It is important that one’s attitude should be of learning during initial period of career and not of earning. You will definitely be at good place in future but for that certain things are important. Continuous upgradation of skill sets and information, be it through reading, writing, or through any other medium is inevitable.

Second thing is that even after the completion of MBA, an additional degree or any other course which is relevant to your field becomes utmost important as it will give you an edge and you will have a grip on your subject which will help you climb the corporate ladder faster.

In the end, I just want to say that there is an ocean of opportunities is available at the end of an MBA. So just do it!

Contributed by Janmang Menhta ( Class of 2010, IBS AHEMDABAD )

“ASPIRING MINDS”

Posted on December 4, 2014 by IBS India

When one of the richest persons in the world, Mr.Laxmi Niwas Mittal was asked what regrets he had in life, he replied by saying that he did not do an MBA. He is the only Indian who leads in a particular sector globally i.e. steel sector. He has achieved success in life and has made a lot of wealth. Yet he regrets not pursuing an MBA.

MBA is one of the most sought after qualifications in India. After the completion of graduation the students prefer to go for this qualification because it offers wide opportunities professionally. The engineering graduates are also opting for this management qualification as it broadens their mental capabilities as well as provides faster career growth. As a result, we find numerous B- schools mushrooming all over India. In this context, let us go in detail to find out the significance and importance of this qualification. Let us also look at various prospects involved with Indian youth in this regard.

An MBA degree is considered as the ticket to the top management positions as it is highly regarded and appreciated by most of the firms globally. Many graduates know that they can expect a well paying job and even promotions with their MBA degree. In this competitive age, most companies want the best and brightest to lead them into the future. They know that MBA graduates have all the tools to be effective managers. With their updated knowledge management and leadership skills, these graduates can ensure a company´s success.

Entrepreneurs desire to pursue an MBA degree to ensure their success. There are many start-ups cropping up every day as the growing economies of the world are creating more demand for new products and a wider market. This provides opportunity for entrepreneurs to create new solutions to meet market demands. In doing so, they create jobs and add positively to the overall health of the economy. Entrepreneurs know they need an MBA degree to achieve success. Having a great idea is one thing. Making it work is another. They know that their MBA degree will give them the tools they need in success of their enterprise.

People with global view pursue an MBA degree to expand their horizons as markets are no longer confined to the regional areas. They have grown and are now catering to the needs and demands of the customers globally. The Internet has helped in connecting people from all over the world. As a result, the world is shrinking at a faster pace. An MBA degree with an International Specialisation is becoming quite popular to compete more effectively in the international arena. This specialization imparts important tools, lessons and methods which will the help the employers to forge new relationships with vendors and clients overseas.

Additionally, in many cases we see that there are some executives who have fallen off their career track and they turn to an MBA degree to put them back in the right direction. There are special MBA degree programs for professionals who want to improve their skills after some years of working experience. These are known as executive MBA degree programs and help to retrain executives. By combining their previous experience with their new degree, most executives find themselves promoted to more challenging positions with a substantial increase in pay.

MBA is highly demanding in the present scene because of the emergence of the large corporate houses, MNCs and industrial giants and the world wide economic growth. The social and individualistic view point has changed largely, where people are more concentrated on career growth and maximize the earning rather than just job security. An MBA degree can boost an individual’s passion and hunger for success.

To sum up, Indian youth definitely have an exciting future and promising career with an MBA degree if they desire to improve and develop their skills.

“Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything.” – Napoleon Hill

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

Breaking the Myth “Smaller batch size in MBA is better”

Posted on December 2, 2014 by IBS India

Ipso facto, MBA is a “carrier enhancement platform” for aspirants who are green horns as well as for working professionals equally.

So, let help you revise your quest for the best possible B-School by pointing out one moot point that you must avoid. I am talking about the myth of considering smaller batch size as an affirmative criterion for opting B-Schools.

Today companies are more concerned with the question”how adaptive and aware are you with their working environment”. At a time when our country is flooded with more than hundreds of MBA colleges with majority of them with batch size of around 60-100, barring few colleges, hardly 10% MBA graduates from other B-School get placemen straight after their studies. So, there must be some difference in those few MBA colleges approach towards students.

Digging deep into the reasons, you will find out that today the Industry Interface of college in terms of case studies, guest lecture & seminars from industry insiders, entrepreneurship incubation centres and activity clubs play a major role in bringing industry awareness among students. Most of the recruiting companies are interested in the holistic approach taken by a college towards the development of their students.

These days MBA graduates do not restrict themselves to traditional marketing, finance and HR jobs. Majority of them go on to join development sector, policy programming, research, corporate law and last but not least, they take up the path of entrepreneurship.

Hence beyond batch size, the number of companies visiting and hiring students yearly in a college is a better parameter to look out for. Companies prefer to visit campuses where they can find a pool of good profiles to choose from, which helps them in cutting down their recruitment cost too. That is the reason you will see companies approaching college which has larger pool of good students with more profiles and perks as compared to the colleges with smaller batch size.

Lastly, the essence of being an MBA graduate is when you are good at networking, problem solving, team handling and achieving results. You will always learn it better when you practice it among a larger group of heterogeneous cross cultural environment. Competition will be there and that aspect is also necessary. Not only it provides the best of the best for the recruiting companies, but also pushes you to perform better and maintain a strong position in the competition.

So, now when you try to select MBA College for yourself, look out for these parameters, Google reports from rating agencies like CRISIL and you will surely get satisfying answer.

Contributed by Sharique Hassan Manazir (Class of 2011-13, IBS HYDERABAD )

MBA and the Art of Networking

Posted on December 1, 2014 by IBS India

Since the markets crashed in 2009, there has been a drastic reduction in the number of students appearing for the coveted Common Admission Test. The number for 2013 was 1.95 Lakh as compared to 2.14 Lakh in 2012; a drop of almost 8.9%. The dip clearly suggests that the demand for MBA graduates has declined in comparison to its supply.

The negative growth has also made the aspiring student weary of the future prospects as a B-School graduate; however MBA is still one of the most preferred professional courses in India. With a high number of students still competing for an admission to the best colleges and thereafter for desirable job positions, it’s imperative for a prospective/current MBA student to enter his/her college with a fair idea of what ‘NETWORKING’ is all about. Once equipped with the basics of the art of networking, an individual can build an all important network within and beyond the campus boundaries.

A network here refers to an individual or a group of professionals who are aware of your credentials and are willing to lend a helping hand in learning the finer nuances of the professional world. This enhances your chances of being more employable and they might even help you land a job. In this fast moving and competitive day and age, we eventually are a sum of our networks! Let’s decipher the best way to network while at a B-School and how the art of networking that starts during the B-School journey will eventually help us in creating long lasting professional relationships.

Network in the realms of B-School!

In any MBA class there are students from diverse backgrounds, which supersede one’s class, creed or color. Students differ from each other based on their field of study, amount of work experience, extracurricular achievements etc. Regardless of whether they like it or not, they start collaborating on different projects, assignments, clubs and this is one place where one automatically creates a network with peers and faculties.

MBA is a professional course, make the most of it!

There is no harm in having a good time, however this is a professional course and within the next 24 months everyone will be out in some organization or the other. Having a cordial relationship with all your peers and faculty will be an added advantage for you in the years ahead. Any image one creates during the time spent at a B-School will always create a recall value (either positive or negative) amongst your batch-mates and the faculty. Please do remember that the visiting faculties at B-School are leaders from the corporate world. Your seniors or batch-mates may be a reference points during an interview or a social meeting. It is also important to lead while you are at a B-School to demonstrate the leader that lies in you; however it is equally important to be a good team player and allow others to lead too.

Building your network beyond the realms of the B-School:

While you engage in the activities within your campus, one must immediately start developing a network according to ones area of interests in the corporate world. It will always be useful to focus on the field you eventually want to have a career in. It is also imperative to connect with people who are better than you and have more experience than you. Below is something which few of my fellow batch mates and I tried. It paid dividends in the long run:

Nishkam Karma:

While I was preparing for my B-School journey I read this term in one of the newspapers I used to subscribe (I must admit reading newspapers always helps). In essence, this is a term from Bhagvad Geeta which points as action without expectation of results. As we approach a lot of people from the corporate world for guidance, please bear in mind that we should reach out to them with an intention of learning from their experiences and not to land a job. So here this term is slightly modified as one expects to learn or add some value from any interaction. Try not to have your very first meeting with a resume in hand and expectations of landing a job. The focus should solely be creating a network.

Practice being a good listener:

We all love to talk and talk for hours. However once you are out there to meet stalwarts and create a network of your own, you need to step back, listen and learn. Listening carefully, skimming and keeping useful information is an art that one needs to master. So till the time you master the art, try to write down important points which were a part of your discussion.

Pick up the Phone / Write an E-Mail:

These are the basics and yet somehow we resist from making that first connect, via phone or email. The worst that can happen to us is that we will not be entertained at all, however 1 in 10 will respond. That single addition to your network may turn out to be a game changer in your professional development. If possible, always try and meet the person (at least once) for maximum impact. It gives them a fair idea about you and vice versa.

Follow up on regular intervals:

This might start sounding like a sales pitch, but this is important for an individual; who aspires to stand out in the crowd and wants to create a recall with influential decision makers in the industry. Every SMS/e-mail/phone call does get registered and it can be for any special occasion / or just a catch up call (Note: start calling once you have a rapport in place).

Showcase your progress in a subtle manner:

While we interact with people from the corporate world, they will guide and advise us on different aspects. It is imperative to be a quick learner and implement their suggestions. Once it’s implemented, you can share the outcome within your network of people and thank the concerned person for the insight.

Get an Internship:

Once you have a network in place, rather than asking for a job (if that is what you are building your network for) always try to land an internship. People are more than happy to hire an intern. Although stipend is necessary, one should not mind working for free if the opportunity is worth its while. Good work in an internship definitely augurs well for the future strengthens your network and helps you to interact with more people at work and hence adding more people to your network.

Patience:

Rome was not built in a day! Similarly the dividends of one’s network are not overnight just as all the other things in life. Hence the suggestion is to start as soon as one enters the B-School. It is also important for us to be patient with the development of our network in the corporate world. The people we are reaching out to would be the bigwigs and will be pressed for time in most occasions. Hence do not try too hard or appear pushy.

The art of networking is something which one gets better with time. However, with the growing competition and fewer market opportunities, one who keeps adding valuable relations to his kitty will definitely have an upper hand.

Happy networking.

Contributed by Gaurav Sharga (Class of 2010, IBS GURGAON)

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