Tuesday, February 25, 2014

A Perfect Start for a Perfect Goal

YOU THERE...
Sick of your stagnant career? Doing the same monotonous work for zillions of years now? Your juniors taking over better roles now? Tired of earning much less than what you think you actually deserve? Do you feed like your boss is nothing but a moron and won't let you grow? Tired (frustrated) seeing your much less deserving colleagues/batch-mates making it big in life (at least on Linkedin)? Hate moments when you hear any and everyone making in to IIMs while you missed?

Well, look no further as you have reached just the place where you will get guidance to kick-ass above situations...
Ok, Ok, Ok, this was just to pump you up, now the actual stuff :


"Phew!!!"
Yes, that was my reaction when I got admission offers from IIMC, ISB etc for batch 2013-2014.
My past efforts, from preparing for GMAT, to adjusting my lifestyle, to getting a mentor, to filling forms, to appearing for interviews, all flashed in front of me. To say that it was an emotional moment would be a serious understatement.

So, what is this blog all about?
My plan is to get you on the right track and guide you regarding the entire admission life cycle.

Who is it for?
This blog is for aspirants who want to prepare for GMAT and apply for the 1 year full-time MBA for experienced executives in India (and abroad as well). There are some top class management institutes in India which prefer to take experienced candidates and provide them with the management tools which can not only help the candidates with better future prospects but also help them in growing into a multi dimensional role. Needless to say, in this current competitive environment, being RELEVANT holds the key and this course keeps you one step ahead of the requirements.

The list boasts of Indian colleges such as - IIM-A (min 5 years), IIM-B (now 5 yrs), IIM-C (5), ISB (any), IIM-L (6), XLRI (5), SPJAIN(5) etc.


I will share my thoughts in various steps for simplicity and modularity.
So here it begins:
1. GMAT - its structure, preparation, practice etc
2. Profile Preparation - Extra curriculars, Letters of Recommendations etc
3. Applying for Colleges
4. Interview
5. Choosing the right college

My next update will take care of point#1.
But most importantly - "ALL OF LIFE IS LEARNING; THEREFORE EDUCATION CAN NEVER END". So. try to break the mould of comfort which is usually formed around people like you and me who have been working for 3-10 years and find it difficult to motivate oneself to commit for this 'adventure'. The basic rule is that you have to just sacrifice 2-3 months and that can have an unimaginable positive impact in your life.

All the best COMRADES, the battle is about to begin.

Regards
Ashutosh
(IIM-C PGPEX 2013-14)

Monday, February 24, 2014

STEP 1 : GMAT - Command and Conquer

GMAT - The first step towards preparing for GMAT is to prepare oneself for a 3-5 month of regular dedication. And before this makes you nervous, let me tell you that NO, its not that difficult. So below are the steps which can help in breaking down the process of getting a 700+ GMAT in approximately 5 months:

1. Prepare Yourself to Prepare for GMAT - Believe me, this is the toughest part in the entire application and admission cycle. Usually, one has a 3 to 10+ years of work experience and the person succumbs to the 'Comfort Zone' around himself (ladies, kindly allow me to use 'himself' to make the content simpler; no offences meant :) ). The Comfort Zone is your worst enemy and it will keep infusing your brain, or your thought process for that matter, with ideas which will discourage you to pick this task. Some instances are - "I may have to go abroad; I might lose interest; I have a personal commitment; I don't have that much time; My current job is not that bad, I can grow here too" etc etc etc...
But remember, the only reason you want to do this course, the only reason you want to break the mould, the only reason you are reading this blog, is because you want to bring a CHANGE in your life. This very feeling of "Lets Do It" indicates that you are a fighter and you won't surrender to any counter thoughts, discouragements from colleagues, lethargy or any other deterrent. You have to believe in yourself and go ahead with this like all serious and successful candidates did at some stage.

2. Great! I am all Pumped Up, How to Start now -  There are two ways to prepare for GMAT. Either join a coaching class or do it yourself. In my personal opinion, I would advice a coaching institute but if you are highly motivated and have a good idea about how to study/practice, then the latter is more suited for you.
Coaching Institute (recommended) - There are many such institutes which guide an individual in preparing for GMAT as well as conduct practice tests. I opted for one such institute. The reason was that I had started with GMAT self-preparations 2-3 times in the past but lost the interest in a month or so. What to study, how to design the schedule etc constantly made me change my plans and eventually I had to quit.
The coaching institutes divide the entire syllabus into modules and then teach the modules as per a 3 months plan. (Yes, you read it right - only 3 months for covering the entire GMAT syllabus).
So if you are very serious about GMAT but a bit unsure about the syllabus or your motivation, do get enrolled for coaching. This costs around Rs. 25,000 for classes and 5-10 tests.
*Disclaimer - I have no intention of making any reader shell out money to any coaching institute. I would suggest you to take a trial class with 2-3 such institutes and then choose the best yourself.
Self Preparation - The best thing about GMAT is that it involves only English and Class X Mathematics. You can buy GMAT preparation books, religiously follow the chapters, do the practice and thats it. There is no rocket science involved, so be it Maths or English  you will not face challenges which only a tutor/mentor can address. But I repeat it, the most important factor is your self-motivation. Before starting Self-Prep, be sure that you are 100% serious and committed to this adventure.


3. The Testing Patterns - These are the fantastic four -
Analytical Writing Assessment – An argument will be provided and in 30 mins, you will have to analyze the argument. Basically, you have to point out the flaws in the argument. You can think of reasons on your own but it should be in context to that is written in the argument.
This section has a separate rating and doesn’t affect the GMAT 800 score.

Integrated Reasoning – There will be around 12 questions related to Graphs, Two-part Analysis, Table analysis etc. Again 30 mins.
This section has a separate rating and doesn’t affect the GMAT 800 score.
                           
Quantitative Section -
The Quantitative section consists of 37 questions which have to be attended in 75 minutes.
Topics such as Algebra, Inequalities, Ratios, Proportions, Simple/Compound Interests, Probability, Permutation Combinations, Time Speed Distance, Work, Geometry etc are covered.
This section, along with Verbal Section, decides the GMAT 800 score

Verbal Section -
The Verbal section consists of 41 questions which have to be attended in 75 minutes.
Basically these questions are classified into
a.       Passages – there are approx 4 passages each with 3-4 questions. So the total # of such questions is 14-16
b.      Critical Reasoning – these are around 12-14 in number.
c.       Sentence Correction – these are 12-14 in number as well.
Out of these, Passages and Critical Reasoning can be IMPROVED only by practice and there is no other way to approach these questions.
Sentence Correction questions, on the other hand, are something that can be worked upon, understood and improved. Such questions are solved at three levels – Grammar, Meaning and Preference (in decreasing order of importance).
This section, along with Quant Section, decides the GMAT 800 score

So yes, the test is 30 +30 + 75 + 75  = 210 minutes = 03:30 Hours + Two breaks of 8 mins each

Material for Preparation – Well, the Official Guide is a must to have. There isn’t any theory shared in this book but the questions mentioned give a very good idea of the kind of questions one can face in GMAT.
For theory, there are 2-3 well known brands like Manhattan, Kaplan, Princeton etc. I used Manhattan but  I would recommend it only for Verbal. For Quant, one can refer Kaplan or Princeton.

4. Schedule Designing – Welcome to the World of Management
Designing an efficient schedule for GMAT preparation is a MUST else you would lose the interest in 2-3 weeks.
Here is what I recommend –
3 months of theory, understanding concepts, practicing questions as per the topic +
1 month of Question solving +
1 month of attending full practice tests

The 3 months period:
For Quant – There are about 11-12 main topics, so in 3 months (1 topic per week), this should be ready.
For Verbal –
a.       Passages – One should try to solve 2-3 Passages on a daily basis to get the speed
b.      Critical Reasoning – 10 Critical Reasoning questions, 2-3 times a week to get the speed and know-how.
c.       Sentence Correction – Most of the 3 months for theory/concepts understanding must be focused towards SC. There are 10-11 concepts like Subject-Verb Agreement, Tenses, Parallelism etc which one should understand and learn to implement. 11 concepts, one concept per week (with ample practice) – so in 11 weeks, this should be completely prepared.
Try to devote 2 hours every day and plan Quant and Verbal on alternate days.

Questions Solving – This one month should be used to solve each and every question of your study material (provided by the Coaching Institute or self purchased). Initially, try to focus on the mistakes you did while solving questions, note them down and work upon them to understand the concept. In the latter part of the month, try to solve questions on a times scaled – for Quant, try to solve 30 Qs in 60 mins while for Verbal, try to solve 35 Qs in the same time. Make sure that you cover all topics in Quant during this month. For Verbal, make sure that you mix Qs.

Practice Test – It might happen that after 4 months, you might feel that you have forgotten some topic and might want to devote more time for it. Well, get ready to be surprised – DON’T DO IT.
The reason I am saying this is because you will never have that feeling of complete satisfaction. Spending more time on anything else except practice tests at this stage will reap no fruits.
Rather regular practice will help you come across more questions and also increase your speed, leading to better scores.
There are about 15 free tests available on the net. Make sure to give them in one sitting (at least the Quant and Verbal part).
Also, it is very important to learn and improvise upon the wrong answers without which, this exercise won’t be of much relevance.
Aim for scores above 700 as IIMs/ISB etc prefer students in 700+ range.
So GMAT is done... Wow THAT WAS EASY!!!
Hmmm, we will move to next step now - "Profile Preparation - Extra curriculars, Letters of Recommendations etc" but give me some time y'all :)











Sunday, February 23, 2014

STEP 2 - Profile Preparation

Profile Preparation is one of the most important phase while applying for an MBA college. A well balanced profile, which captures and displays your important achievements, goals, learnings etc. ensures that you get an interview call from the college. But before that, your GMAT score should be above than the minimum score set by the college. Also, the matter you write in your application is discussed/questioned in the interview and the interview panel tries to gauge your strength and weakness based upon that.


What is this 'Profile' all about?
The profile of a candidate consists of 4 basic parts:
1. GMAT Score
2. Application form - your marks/ degrees / job profile / SOP / Essays etc
3. Letters of Recommendation
4. Social Service / Extra curricular activities - Awards/Recognitions 

Once you have short-listed the colleges you want to apply for based upon your GMAT score, there is usually a web portal, where the college would ask you to create your account and fill in the application form (available on the same website). These details you fill in, are addressed as your profile and if all goes well, then based upon the profile or application details and GMAT score, the college will call you for interview.


Lets discuss the parts of the profile (excluding GMAT score)


1. Application Form

What does it consist of?
The application form usually consists a list of questions, some objective while others, subjective.
The good news is that the application forms are 80-90% similar for most colleges.

The information asked is usually as follows:
a. Some basic personal details like your name/address etc.
b. Your educational details and marks in HSE/SSE/College
c. Your job profile - roles/responsibilities etc
d. Social service / Extra curricular talents
e. Awards / Recognitions (be it in school/college/job/sports etc)

And then there are 3-4 questions which need serious thinking and patience:
a. Statement of Purpose - As the name suggests, the college wants to know what all happened in your life which lead you to this phase, why do you want to do an MBA, why should the college select you? -
Here, structure the SOP in such a way that following data is presented in a logical and connected manner - your initial school/college life, job profile, achievements, what drove you to go for an MBA, your goals post MBA, why this particular college etc.
b. A description of any activities you performed in your workplace which would help the college to assess your abilities and strengths -
Try to mention about a challenge you faced at the workplace or an initiative you took which not only helped the organization/ your juniors etc but also allowed you to display your leadership/management qualities.
c. Narrate an important/unusual incident of your life when you had to face a very demanding/challenging situation. How did you overcome the situation? What lessons did you learn from this incident? -
The first part is self explanatory. Regarding lessons learnt, show how this incident helped you evolve into a better, matured human being, or helped you work upon your shortcomings like communication skills etc.
d. Anything else you would like to highlight in support of your application -
Any beyond work achievement like a social welfare initiative etc.
e. What are your goals - both short term and long term? -
This depends upon personal interests but try to keep the goals realistic. Also, colleges appreciate that you work in the same field post MBA, so present your goals with this fact in mind. 
f. Why do you want to do an MBA and why now? -
This should be in sync with what you write in the SOP. You can put your case forward by saying that you want growth which would not be easy to get in the current profile, or how you met someone who did an MBA and got a role where you want to see yourself in a year or two etc.

Please pay a lot of attention while filling the latter questions. These are the ones which act as the deciding factor and at the same time, any false information can lead to a lot of grilling during interviews.

There are many small firms (mentors) which help a candidate with writing these questions. This is a good option for candidates who find it difficult to express their thoughts in writing. However, make sure that even if you have hired the services of a mentor, try to write the essays on your own and then share the same with the mentors for changes/modifications. This is necessary to give a unique and genuine look to your application which the college staff is very good at analysing.
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2. Letter of Recommendation

Before going to the details of LOR, lets discuss what is it all about. The colleges want to know a bit more about the candidate and also as to how is he perceived by the people around him.
Colleges prefer to have a LOR from candidate’s reporting manager, client or even colleagues. This helps college assess the candidate from both personal and professional parameters and this also gives them an insight into the kind of work the individual does, challenges faced, innovations created etc.

So who should recommend?
Usually, two LORs are needed in the application.
Your best bet would be to choose your reporting manager as one of them and client or colleague as the other one. This is because the kind of information needed in the LOR is something which your RM or client or colleague can answer wisely and also site necessary examples.

And what should be the content of LOR?
Letter of Recommendation is a 1-2 page document which the candidate has to get prepared from the recommender. The content of the LOR is something which is based upon the requirements mentioned by the college. Some colleges just ask the recommender to mention the general details of the candidate, others are more specific in what they need. Some common questions asked are: Under what circumstances and for how long have you known the applicant, describe situations where the applicant displayed signs of leadership abilities and team skills, indicate two areas where the applicant has shown learning and improvement which would add value to his application to the college, Provide any additional information that may aid the admission committee in the selection process, describe the particular talents, strengths, and weaknesses of the applicant, performance evaluation, favourable or unfavourable indications of the applicant’s leadership potential and his ability to do work independently, strength, weakness etc.

How to go about it?
Well, to be honest, the recommender wont enjoy filling up 1-2 pages boasting about you. There is a great possibility that the recommender will ask you to fill the form and sent it to him for review etc. Just make sure that when you do so, try to get the matter written by a third person. You can provide the answers to the questions, but let a third person pen it down using his own linguistics. This is important because the interview panel can match the SOP etc with LORs and they will not appreciate the fact that you have reviewed yourself.

Mode of LOR delivery?
LORs can be sent as hardcopies, they can also be scanned and mailed to the college (from the recommender’s official email id) or as in the case of IIM-B, there will be another web portal, where the recommender can login and provide the details (login details are provided to the recommender by the college)

Any special notes?
Try to have the LORs constructed in such a way that they represent all your strengths aptly and at the same time, show as to how you have worked upon your weakness for self improvement. Leadership and management qualities should be bought out and other important attributes like team building, conflict handling, pressure situation handling should be highlighted.


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3. Social Service / Extra curricular activities

Well, this has always been a "Oh boy, its too late for this now" kind of a section. 
When one is collecting all the information for profile preparation before applying to colleges, this usually turns out to be the weakest link. 
Most of us always have a desire to indulge into social work activities, but couldn't get the right opportunity (or honestly, may be the motivation was never that strong). 

But this isn't as bad as it seems. First of all, this section is not a deciding factor when it comes down to final selections. Its more like a 'Good to have' feature. Secondly, most of the candidates are at the same level with respect to social welfare or extra-curricular activities. And lastly, a candidate usually has a SW/ECs past which if capitalized and presented appropriately, suffices for the requirement.

Social Welfare Activities
In Social welfare activities, B schools try to assess what you have given back to the society. It is a good forum to show your 'Beyond Work' initiatives and adds a lot of substance to your overall application. Some relevant examples are work related to educational classes, vocational training, cleaning drives, employment generation for the less privileged and similar activities.

If you had some experience with SW activities, try to get a documented proof of your attachment with the organisation or the NGO. Certificates of 'Appreciation', ''Recognition', 'Association' with the NGO, participation in the camps etc are very useful. If you cannot produce the documents, there is still no need to worry. Do mention about your activities in the profile while applying for the college and if the interview panel asks about your role, use the opportunity to present the details in an effective manner.

And now, for the usual bunch, who don't have any experience in this field, it might be a bit late but not too late to start. Look around for opportunities where you can provide help to a social campaign. Usually, the firm for which one works, has a "Corporate Social Responsibility", CSR wing which organises such SW activities regularly. This can be a good starting point. Another option is to contact various local NGOs which can be located over the internet. Meet them, talk to them and participate in their events. 

Extra-Curricular Activities
Are you good at sports? Or have a creative side like Arts, Drama, Music, Dance? Or you have an oratory talent like Debates etc? 
Well, this is the forum to present your hobbies, interests, talents so as to show your multi-dimensional personality. This is many ways is similar to SW section above and adds value to your application.

If you are equipped with this tool, then as was the case with SW, try to produce certificates. Also, in either case, be well-prepared with some instances, achievements to support your claims. I, for instance, am a good swimmer and have been a member of the Indian Aquatic Academy for almost 5 years. Even though, I had no certificates to substantiate this, I did talk about it in my interview for a minute or so.

And again for the majority or the usual bunch, who do participate in sports but at a smaller level or who have a guitar in their house which is buried in 5 mm of dust (like me), try to start with a sport, activity which genuinely interests you. Certificates are not necessary, but you can have a one line mention about the activity in "Introduce Yourself" questions during interview..

Bottom-line
All said and done, do not get demotivated if you are a late starter, but what is more important, that you have to be a 'starter'. You will have more to say in your interviews and you can also strengthen your case in front of the interviewers who expect a candidate to contribute back to the college or the class.

And why just for GMAT? These activities, be it SWAs or ECs, help one to develop as a social and matured individual. So what say, joining a guitar class today?
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Sunday, December 22, 2013


STEP 3 - Interview Preparation and Details


Guys... I have mentioned the notes for preparation below - Hope these help -




**************MAIN TOPICS - ****************************
1.FDI in retailing/aviation(49)/insurance(49)/pension(26)/ Broadcast(74)
minimum $100 million
India in 1997 allowed foreign direct investment (FDI) in cash and carry wholesale. single brand was alowed
single brand retailers, such as Apple and Ikea, can own 100 percent of their Indian stores, up from the previous cap of 51 percent

Supermarkets and similar organized retail accounted for just 4% of the market


2.Coal scam/other scams 2004-2009 -The essence of the CAG's argument is that the Government had the authority to allocate coal blocks by a process of competitive bidding, but chose not to
$200 billion


3.Fiscal deficit consolidation - Fiscal consolidation is a reduction in the underlying fiscal deficit. It is not aimed at eliminating fiscal debt

4.FDI in education sector(100)/health care(100) - Foreign Investment Promotion Board (FIPB)

5.King Fisher bankruptcy/Maruti management workers issue
6.US presidency
7.Why Indian can't win gold medal in Olympic
8.GDP low growth rate
9.Oil price increase
10.Lokpal bill
11.measures to control inflation by RBI
12.Globalization and its benefit to rural area assure of but, cold storage
13.Company ethics and business issue
14.Industrial pollution /Global warming
15.Basel II - recommendations on banking laws and regulations
US Economy - 2007-2012
escalation of US dollar value and its impact on Indian economy

National Rural Health Mission (NRHM): National Rural Health Mission (2005–12)
the initiatives under NRHM have contributed to reducing the maternal mortality rate (MMR), infant mortality rate (IMR) and total fertility rate (TFR).


Kudankulam Atomic Power Project - People's Movement Against Nuclear Energy. - 2000MW
India+Russia
Large# of people in vicinity, Germany closed 17 such plants
US against as NSG





Economy of India-
The economy of India is the eleventh largest in the world by nominal GDP and the third largest by purchasing power parity (PPP)

After the independence-era Indian economy (before and a little after 1947) was inspired by the Soviet model of economic development, with a large public sector, high import duties combined with interventionist policies, leading to massive inefficiencies and widespread corruption. However, later on India adopted free market principles and liberalized its economy to international trade under the guidance of Manmohan Singh, who then was the Finance Minister of India under the leadership of P.V. Narasimha Rao the then Prime Minister who eliminated License Raj a pre- and post-British Era mechanism of strict government control on setting up new industry.

The growth was led primarily due to a huge increase in the size of the middle class consumer, a large labour force, growth in the manufacturing sector due to rising education levels and engineering skills and considerable foreign investments. India is the nineteenth largest exporter and tenth largest importer in the world. Economic growth rate stood at around 6.5% for the 2011–12 fiscal year

Bad condistions because Govt spending apprx Rs.13.2 trillion, income Rs.7.7 trillion
Services sector hit

1991 issue - balance of payments problems, foreign reserves nearly depleted - $1 billion, import for 3 months only
Globalization means the dismantling of trade barriers between nations and the integration of the nations economies through financial flow, trade in goods and services, and corporate investments between nations.
Adv - choice, flow from devlpd to devling, technology
Dis - outsourcing, small industries
1. Devaluation: To solve the balance of payment problem Indian currency were devaluated by 18 to 19%.
2. Disinvestment: To make the LPG model smooth many of the public sectors were sold to the private sector.
3. Allowing Foreign Direct Investment (FDI): FDI was allowed in a wide range of sectors such as Insurance (26%), defense industries (26%) etc.
4. NRI Scheme: The facilities which were available to foreign investors were also given to NRI's
chanda shekhar 67 tons gold, govt collapsed, PVN stepped in
In the late 1970s, the government led by Morarji Desai eased restrictions on capacity expansion for incumbent companies, removed price controls, reduced corporate taxes and promoted the creation of small scale industries in large numbers. However, the subsequent government policy of Fabian socialism hampered the benefits of the economy, leading to high fiscal deficits and a worsening current account. The collapse of the Soviet Union, which was India's major trading partner, and the Gulf War, which caused a spike in oil prices, resulted in a major balance-of-payments crisis for India, which found itself facing the prospect of defaulting on its loans.[65] India asked for a $1.8 billion bailout loan from the International Monetary Fund (IMF), which in return demanded reforms

1991, after India faced a balance of payments crisis, it had to pledge 20 tons of gold to Union Bank of Switzerland and 47 tons to Bank of England as part of a bailout deal with the International Monetary Fund (IMF). In addition, IMF required India to undertake a series of structural economic reforms
The new neo-liberal policies included opening for international trade and investment, deregulation, initiation of privatization, tax reforms, and inflation-controlling measures

Estimated GDP growth rate - 6.5%




Retailing in India - 15% of GDP
The Indian retail market is estimated to be US$ 450 billion
In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry
Challenges - Govt approvals, infrastructure like cold storage



E-commerce in India - estimated to be worth Rs 50,000 crore

About 75% of this is travel related (airline tickets, railway tickets, hotel bookings, online mobile recharge etc.). Online Retailing comprises about 12.5% ($300 Million[8] as of 2009). India has close to 10 million online shoppers and is growing at an estimated 30% [9] CAGR vis-à-vis a global growth rate of 8-10%. Electronics and Apparel are the biggest categories in terms of sales.

India has an internet user base of over 100 million [1] users. The penetration of e-commerce is low compared to markets like the United States and the United Kingdom but is growing [2] at a much faster rate with a large number of new entrants.[
Increasing broadband Internet (growing at 20% [5] MoM) and 3G penetration.[6]
Rising standards of living and a burgeoning, upwardly mobile middle class with high disposable incomes
Availability of much wider product range (including long tail and Direct Imports) compared to what is available at brick and mortar retailers
Busy lifestyles, urban traffic congestion and lack of time for offline shopping
Lower prices compared to brick and mortar retail driven by disintermediation and reduced inventory and real estate costs
Evolution of the online marketplace model with sites like ebay, Infibeam, and Tradus


IT in India -
providing direct employment to about 2.8 million, and indirectly employing 8.9 million people
The IT–ITES industry has two major components: IT Services and business process outsourcing (BPO). The growth in the service sector in India has been led by the IT–ITES sector, contributing substantially to increase in GDP, employment, and exports. The sector has increased its contribution to India's GDP from 1.2% in FY1998 to 7.5% in FY2012.


1979: Michael Aldrich invented online shopping
1981: Thomson Holidays, UK is first B2B online shopping
2012: US eCommerce and Online Retail sales projected to reach $226 billion, an increase of 12 percent over 2011.




BIT Alumni - Ganesh Natarajan - Deputy Chairman and Managing Director of Zensar Technologies
Deven Sharma - president of Standard & Poor's
Arup Roy Choudhury - NTPC
Anjan Lahiri serves as President and CEO of MindTree’s IT Services business


Companies such as eBay operate out of India as they are merely a listing platform but Amazon will not be permitted to enter India as they are buyers and sellers.
Muralikrishnan B., eBay India’s Country Manager substantiates this point. “eBay India is a 100 per cent subsidiary of eBay Inc. We are a market place, which means that we do not hold or own inventory. We are a platform that enables trade between various sellers and buyers,



Obama / Romney
Auto industry bailout Y/N
Tax, rich more / rich benefit more
Iran no war in near future/ pro war
Energy - green/coal


Indian reforms - The cabinet is likely to approve bills that would raise the limit on foreign direct investment in insurance companies and open the pension sector to foreign investors  - to 49% from the current 26%


Greece
In late 2009, fears of a sovereign debt crisis developed among investors concerning Greece's ability to meet its debt obligations due to strong increase in government debt levels.[2][3][4] This led to a crisis of confidence
On 2 May 2010, the Eurozone countries and the International Monetary Fund (IMF) agreed on a €110 billion bailout loan for Greece, conditional on the implementation of austerity measures. In October 2011, Eurozone leaders agreed to offer a second €130 billion bailout loan for Greece, conditional not only the implementation of another austerity package, but also that all private creditors holding Greek government bonds should sign a deal accepting a 53.5% face value loss.
If Greece can comply with all economic targets outlined in the bailout plan, the country is set for a possible return in 2015, to start using the private capital markets for debt refinance and as a source to cover its future financial needs.
In mid-May 2012 the crisis and impossibility to form a new coalition government after elections, led to strong speculation Greece would have to leave the Eurozone. The potential exit became known as "Grexit" and started to affect international market behaviour. A second election in mid-June, ended with the formation of a new government supporting a continued adherence to the main principles outlined by the signed bailout plan. The new government however immediately asked its creditors, due to a delayed reform schedule and a worsened economic recession, to be granted an extended deadline from 2015 to 2017 before being required to be self-financed; with minor budget deficits fully covered by extraordinary income from the privatisation program for a subsequent 5-year period. The creditors are currently examining this request in the light of an updated and recalculated sustainability analysis of the Greek economy, and are expected to publish a report with their findings in September 2012. If Greece is granted the two extra years to restore their fiscal balance, this will either require creditors to: 1) fund Greece with a new extra third bailout loan, or 2) launch a new debt restructure to decrease the debt repayment (i.e., by imposing additional haircuts on governmental bonds, or by offering Greece to pay some lower/delayed interest rates)
Causes - low GDP, Government deficit
Greece was living beyond its means even before it joined the euro. After it adopted the single currency, public spending soared.
Public sector wages, for example, rose 50% between 1999 and 2007 - far faster than in other eurozone countries.
And while money flowed out of the government's coffers, its income was hit by widespread tax evasion. So, after years of overspending, its budget deficit - the difference between spending and income - spiralled out of control.
When the global financial downturn hit, therefore, Greece was ill-prepared to cope.
Debt levels reached the point where the country was no longer able to repay its loans, and was forced to ask for help from its European partners and the International Monetary Fund (IMF) in the form of massive loans.
In the short term, however, the conditions attached to these loans have compounded Greece's woes


Japan -
***Japan's credit rating has been downgraded by two levels by rating agency Fitch on concerns about the country's high levels of debt.
Fitch cut Japan's rating to A+ from AA and warned that further downgrades were possible.
Japan has by far the highest debt to GDP ratio of any major economy, although much of this debt is held by domestic investors.
The government has spent huge amounts of money on trying to stimulate growth

but because the majority of this debt is held domestically, the interest rate it has to pay to borrow money is very low - less than Germany and the US
Unlike many highly-indebted countries in Europe, it therefore has no problems in raising funds to repay debts.




Sovereign default - Without a bailout agreement, there was a possibility that Greece would prefer to default on some of its debt. The premiums on Greek debt had risen to a level that reflected a high chance of a default or restructuring




Spain
2008-2012 - In Spain, the crisis was generated by long-term loans (commonly issued for 40 years), the building market crash, which included the bankruptcy of major companies, and a particularly severe increase in unemployment, which rose to 24.4% by March 2012
Spain continued the path of economic growth when the ruling party changed in 2004, keeping robust GDP growth during the first term of prime minister José Luis Rodríguez Zapatero, even though some fundamental problems in the Spanish economy were already evident. Among these, according to the Financial Times, there was Spain's huge trade deficit (which reached a staggering 10% of the country's GDP by the summer of 2008)
Public's mortgage debt is huge





Bonds
governments need money for everything from infrastructure to social programs. The problem large organizations run into is that they typically need far more money than the average bank can provide. The solution is to raise money by issuing bonds (or other debt instruments) to a public market
Coupon is interest rate and then there is maturity date
not much gain if company profits, but if bankrupt, higher claim than stockholder




>monetary policy -  Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability.[1][2] The official goals usually include relatively stable prices and low unemployment

fiscal policy- In economics and political science, fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.[1] The two main instruments of fiscal policy are government taxation and expenditure



Health Care Reforms in US - The Patient Protection and Affordable Care Act (PPACA),[1] commonly called Obamacare[2][3] (or the federal health care law), is a United States federal statute signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act, it represents the most significant regulatory overhaul of the U.S. healthcare system since the passage of Medicare and Medicaid in 1965.[4]
PPACA is aimed primarily at decreasing the number of uninsured Americans and reducing the overall costs of health care. It provides a number of mechanisms—including mandates, subsidies, and tax credits—to employers and individuals in order to increase the coverage rate.[5][6] Additional reforms are aimed at improving healthcare outcomes and streamlining the delivery of health care. PPACA requires insurance companies to cover all applicants and offer the same rates regardless of pre-existing conditions or gender.[7][8] The Congressional Budget Office projected that PPACA will lower both future deficits[9] and Medicare spending.[10]



Occupy Wall Street - Occupy Wall Street (OWS) is the name given to a protest movement that began on September 17, 2011 in Zuccotti Park, located in New York City's Wall Street financial district.
The Canadian activist group Adbusters initiated the protest, which has led to Occupy protests and movements around the world. The main issues are social and economic inequality, greed, corruption and the perceived undue influence of corporations on government—particularly from the financial services sector. The OWS slogan, We are the 99%, addresses the growing income inequality and wealth distribution in the U.S. between the wealthiest 1% and the rest of the population. To achieve their goals, protesters act on consensus-based decision made in general assemblies which emphasize direct action over petitioning authorities for redress
The Occupy movement is an international protest movement against social and economic inequality, its primary goal being to make the economic structure and power relations in society fairer. Different local groups have different foci, but among the prime concerns is the claim that large corporations and the global financial system control the world in a way that disproportionately benefits a minority, undermines democracy and is unstable



EUROPA - European Central Bank -
Euro zone crisis / European sovereign-debt crisis
is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties.
From late 2009, fears of a sovereign debt crisis developed among investors as a result of the rising private and government debt levels around the world together with a wave of downgrading of government debt in some European states. Causes of the crisis varied by country. In several countries, private debts arising from a property bubble were transferred to sovereign debt as a result of banking system bailouts and government responses to slowing economies post-bubble. In Greece, unsustainable public sector wage and pension commitments drove the debt increase.

***The structure of the Eurozone as a monetary union (i.e., one currency) without fiscal union (e.g.different tax and public pension rules) contributed to the crisis and harmed the ability of European leaders to respond.[4][5] European banks own a significant amount of sovereign debt, such that concerns regarding the solvency of banking systems or sovereigns are negatively reinforcing.
The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; the 2007–2012 global financial crisis; international trade imbalances; real-estate bubbles that have since burst; the 2008–2012 global recession; fiscal policy choices related to government revenues and expenses; and approaches used by nations to bail out troubled banking industries and private bondholders, assuming private debt burdens or socializing losses





NREGA - 2005 40000CR- Rs.120 - people living in rural India, whether or not they are below the poverty line
Despite its best intentions, MGNREGA is beset with controversy about corrupt officials, deficit financing as the source of funds, poor quality of infrastructure built under this program, and unintended destructive effect on poverty
Central Government meets the cost towards the payment of wage, 3/4 of material cost and some percentage of administrative cost. State Governments meet the cost of unemployment allowance, 1/4 of material cost and administrative cost of State council



2G spectrum scam
The 2G spectrum scam involved politicians and government officials in India illegally undercharging mobile telephony companies for frequency allocation licenses, which they would then use to create 2G subscriptions for cell phones. The shortfall between the money collected and the money which the law mandated to be collected is estimated to be 176,645 crore (US$33.39 billion), as valued by the Comptroller and Auditor General of India based on 3G and BWA spectrum auction prices in 2010
- 2 February 2012 when the Supreme Court of India - cancelled 122 licenses
- The original plan for awarding licences was to follow a first-come-first-served policy to applicants. A. Raja manipulated the rules so that the first-come-first-served policy would kick in - not on the basis of who applied first for a license, but who complied with the conditions.[9] On 10 January 2008, companies were given just a few hours to provide their Letters of Intent and cheques. Those allegedly tipped off by Mr Raja were waiting with their cheques and other documents


The Comptroller and Auditor General (CAG) of India is an authority, established by the Constitution of India under Chapter V, who audits all receipts and expenditure of the Government of India and the state governments, including those of bodies and authorities substantially financed by the government. The CAG is also the external auditor of government-owned companies. The reports of the CAG are taken into consideration by the Public Accounts Committees, which are special committees in the Parliament of India and the state legislatures. The CAG is also the head of the Indian Audit and Accounts Department, which has over 58,000 employees across the country.
The CAG is ranked 9th and enjoys the same status as a judge of Supreme Court of India in Indian order of precedence. The current CAG of India is Vinod Rai, who was appointed on 7 January 2008


Difference between credit rating and credit score
A credit score is the numerical value calculated from information in your credit file that is used by lenders and landlords to assess your “credit risk” at that time
Fair Issac corp
A credit report is a summary of your financial reliability—for the most part, your history of paying debts and other bills - Equifax, TransUnion



Whether an agency take permission from an individual before sharing his credit rating???
Some entities and individuals, such as an employer or landlord, must obtain your permission before pulling your credit report. However, other entities, such as credit card companies or debt collection agencies, can legally access your report without prior consent.






What do you think food inflation will go up or down in the next 6 months
The delayed monsoon, coupled with weaknesses in the agricultural supply chains and rising costs of fertilizers and irrigation, are likely to result in subdued agricultural growth and sustain pressure on food prices. Industrial output is expected to remain subdued in FY2012, with only a modest improvement in FY2013, while weak demand from industrialised countries continues to take its toll on exports. The slowdown in new infrastructure projects and the shelving of some approved projects points to continued weakness in investment.




India's consulates in Afganistan - Herat, Kabul
Larry Page, Sergey Brin - Google


between High Commisoner and ambassador
no diff in terms of funct
The former term is used to refer to Britain’s diplomatic missions in commonwealth countries. For example, the diplomatic mission in Delhi is called the High Commission
Since the United States and Russia were never a part of the commonwealth - ambassd



JanLokpal Bill - lokpal - protector of people
The Jan Lokpal Bill aims to effectively deter corruption, compensate citizen grievances, and protect whistle-blowers
If passed into law, the bill would create an independent ombudsman body called the Lokpal
The body would be empowered to register and investigate complaints of corruption against politicians and bureaucrats without prior government approval
The Lokpal Bill was first introduced by Shanti Bhushan in 1968[11] and passed the 4th Lok Sabha in 1969. But before it could be passed by Rajya Sabha, the Lok Sabha was dissolved and the bill lapsed
 - To establish a central government anti-corruption institution called Lokpal, supported by Lokayukta at the state level.
 - As is the case with the Supreme Court of India and Cabinet Secretariat, the Lokpal will be supervised by the Cabinet Secretary and the Election Commission. As a result, it will be completely independent of the government and free from ministerial influence in its investigations.
 - Members will be appointed by judges, Indian Administrative Service officers with a clean record, private citizens and constitutional authorities through a transparent and participatory process.
 - A selection committee will invite short-listed candidates for interviews, the video recordings of which will thereafter be made public.
 - Every month on its website, the Lokayukta will publish a list of cases dealt with, brief details of each, their outcome and any action taken or proposed. It will also publish lists of all cases received by the Lokayukta during the previous month, cases dealt with and those which are pending.
 - Investigations of each case must be completed in one year. Any resulting trials should be concluded in the following year, giving a total maximum process time of two years.
*** In 2011, during the Parliament's Winter Session, the Lok Sabha passed the controversial Lokpal Bill, but it was subsequently turned down in the Rajya Sabha.

 Difference -
 suo moto not allowed
 no prosecution
 CBI merge vs independent


Jan Lokpal is drafted to check Govt bodies, how will it reduce the corruption in the corporate world - pay to minsters policy change

Tea Party
The Tea Party movement is an American political movement that advocates strict adherence to the United States Constitution,[1] reducing U.S. government spending and taxes,[2][3][3] and reduction of the U.S. national debt and federal budget deficit.[2] The movement is generally considered to be partly conservative,[4][5] partly libertarian,[6][7] and partly populist.[8][9][10] The movement has sponsored protests and supported political candidates since 2009

The Tea Party agenda is not well defined, though it is anti-government, anti-spending, anti-immigration and anti-compromise politics





China
The export-driven, state-investment model is producing diminishing returns
10% in last 3 decades
The World Bank calls for nothing less than a sweeping overhaul of the system. State-owned companies should be scaled back, and private enterprise encouraged. Banks need to be independent so they can distribute capital according to the rules of risk and reward. Instead of relying on Western markets, the government should encourage Chinese citizens to consume Chinese goods — and it can do that by improving social services and bridging the yawning income gap between rich and poor


***Current state of indian economy interest rate hikes and inflation



GDP and GNP
GDP - An estimated value of the total worth of a country’s production and services, on its land, by its nationals and foreigners, calculated over the course on one year
Total value of products & Services produced within the territorial boundary of a country
To see the strength of a country’s local economy

GNP - An estimated value of the total worth of production and services, by citizens of a country, on its land or on foreign land, calculated over the course on one year
Total value of Goods and Services produced by all nationals of a country (whether within or outside the country)
To see how the nationals of a country are doing economically

GDP = consumption + investment + (government spending) + (exports - imports)
GNP = GDP + NR (Net income inflow from assets abroad or Net Income Receipts) - NP (Net payment outflow to foreign assets)






eligibility criteria to be the president of India
Indian
35
no office of profit
no criminal conviction, bankrupt
by an electoral college consisting of the elected members of both houses of Parliament, the elected members of the State Legislative Assemblies (Vidhan Sabha) and the elected members of the legislative assemblies of the Union Territories




twenty-eight states and seven union territories



Moral Hazards - persons with insurance against automobile theft may be less cautious about locking their car, because the negative consequences of vehicle theft are now (partially) the responsibility of the insurance company



ASSOCHAM, FICCI
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) is one of the apex trade associations of India. The organisation represents the interests of trade and commerce in India, and acts as an interface between industry, government and other relevant stakeholders on policy issues and initiatives. The goal of this organization is to promote both domestic and international trade

The Federation of Indian Chambers of Commerce and Industry (FICCI) is an association of business organizations in India, headquartered in the national capital New Delhi. FICCI is one of the main organizations to fund and support many governmental and non-governmental educational institutes
R V Kanoria



*IIMC Vision/Values
Overall Mission :
The mission of the Institute is to develop innovative and ethical future leaders capable of managing change and transformation in a globally competitive environment and to advance the theory and practice of management.

Core Institutional Values :
We shall strive to develop and sustain the following values to provide the context for all our programmes and activities:
Excellence,
Academic Freedom,
Commitment,
Responsiveness to Societal Needs,
Creativity,
Openness,
Diversity with Synergy



The reserve requirement (or cash reserve ratio) is a central bank regulation that sets the minimum reserves each commercial bank must hold (rather than lend out) of customer deposits and notes. These required reserves are normally in the form of cash stored physically in a bank vault (vault cash) or deposits made with a central bank

Statutory Liquidity Ratio (SLR)
Apart from the CRR, banks are required to maintain liquid assets in the form of gold, cash and approved securities. Higher liquidity ratio forces commercial banks to maintain a larger proportion of their resources in liquid form and thus reduces their capacity to grant loans and advances, thus it is an anti-inflationary impact. A higher liquidity ratio diverts the bank funds from loans and advances to investment in government and approved securities
Statutory Liquidity Ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers. Here by approved securities we mean, bond and shares of different companies






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1. Convergence


2. exponential graph
In mathematics, the exponential function is the function ex, where e is the number (approximately 2.718281828) such that the function ex is its own derivative.[1][2] The exponential function is used to model a relationship in which a constant change in the independent variable gives the same proportional change (i.e. percentage increase or decrease) in the dependent variable.
3. Value of e = 2.71
   y=e^x


3. Asymptotic
A problem may have numerous algorithmic solutions. In order to choose the best algorithm for a particular task, you need to be able to judge how long a particular solution will take to run. Or, more accurately, you need to be able to judge how long two solutions will take to run, and choose the better of the two. You don't need to know how many minutes and seconds they will take, but you do need some way to compare algorithms against one another.

Asymptotic complexity is a way of expressing the main component of the cost of an algorithm, using idealized units of computational work. Consider, for example, the algorithm for sorting a deck of cards, which proceeds by repeatedly searching through the deck for the lowest card. The asymptotic complexity of this algorithm is the square of the number of cards in the deck. This quadratic behavior is the main term in the complexity formula, it says, e.g., if you double the size of the deck, then the work is roughly quadrupled



4. Prove 5^0=1
   1=a^n/a^n=a^(n-n)=a^0


6. Poisson distribution
In probability theory and statistics, the Poisson distribution (pronounced [pwas?~]) is a discrete probability distribution that expresses the probability of a given number of events occurring in a fixed interval of time and/or space if these events occur with a known average rate and independently of the time since the last


7. How will you calculate maxima and minima. By plotting graph. They gave some functions (x*x and sinx), and I demonstrated answers by plotting graphs

8. Do you know any other method for determining maxima and minima? Yes, using derivatives

9. Which derivatives
In calculus, a branch of mathematics, the derivative is a measure of how a function changes as its input changes. Loosely speaking, a derivative can be thought of as how much one quantity is changing in response to changes in some other quantity; for example, the derivative of the position of a moving object with respect to time is the object's instantaneous velocity

10.How to find which are maxima and minima

11.What is the derivative of logx
dy/dx of e^x = e^x
dy/dx of e^f(x) = f '(x)e^f(x)
dy/dx of lnx = 1/x
dy/dx of [ln[f(x)] = f '(x)/f(x)

12.What is the derivative of a^x
 f (x) = 2^x
therefore 2^x = e^(x ln 2)
 f '(x)  =  (e^(x ln 2))(ln 2)  =  2^x * ln 2

                  ln x /
      loga x =          
                       ln a

13.Pythagoras theorem prove


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One incident of leadership in your professional life
What want to do after IIMC
hobbies
post MBA apart IT which stream you would like to join
management consulting

*********************************************************************************************************************************************************************

*CMMi
Capability Maturity Model Integration (CMMI - V1.3) is a process improvement approach. CMMI can be used to guide process improvement across a project, a division, or an entire organization. Processes are rated according to their maturity levels, which are defined as: Initial, Managed, Defined, Qualitatively Managed, Optimizing
CAR - 5
DAR
CM
Risk Mgmt
An organization cannot be certified in CMMI; instead, an organization is appraised. Depending on the type of appraisal, the organization can be awarded a maturity level rating (1-5) or a capability level achievement profile


In a global context, world GDP and world GNP are, therefore, equivalent terms


*b2b
Business-to-business (B2B) describes commerce transactions between businesses, such as between a manufacturer and a wholesaler, or between a wholesaler and a retailer
The volume of B2B (Business-to-Business) transactions is much higher than the volume of B2C transactions. [1][2][3] The primary reason for this is that in a typical supply chain there will be many B2B transactions involving sub components or raw materials, and only one B2C transaction, specifically sale of the finished product to the end customer. For example, an automobile manufacturer makes several B2B transactions such as buying tires, glass for windscreens, and rubber hoses for its vehicles. The final transaction, a finished vehicle sold to the consumer, is a single (B2C) transaction.

When communication is taking place amongst employees, this can be referred to as "B2B" communication
Many businesses are now using social media to connect with their consumers (B2C)



*b2c - CONSUMER
Retail


b2g - marketing products and services to various government levels


*Recession
In economics, a recession is a business cycle contraction, a general slowdown in economic activity.[1][2] Macroeconomic indicators such as GDP, employment, investment spending, capacity utilization, household income, business profits, and inflation fall, while bankruptcies and the unemployment rate rise.
Recessions generally occur when there is a widespread drop in spending, often following an adverse supply shock or the bursting of an economic bubble. Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation
 "two down consecutive quarters of GDP"
A severe (GDP down by 10%) or prolonged (three or four years) recession is referred to as an economic depression




*bba

Stregths - plan, team leader, ownership, go getter, not give-up
Weakness - lack of trust on quality of work by subordinates, panic if delay, too helpful- others not grow

Why an MBA -
Confidence to peers
logic to software so mba to business
If you as an IT manager have an MBA, you're seen as having more to offer than just your knowledge of technology.
You will communicate better with your business colleagues.
An MBA better prepares you to solve business problems



Tell me your most significant achievement in work?


PE of index - 17
HCl - 16
P/E = Stock Price / EPS
Earnings Per Share is calculated by dividing a company's net revenues by the outstanding shares

GDP, India China, US, UK, Germany
     $1.8T % 5.8%, 8& 2%,    16 1.7, 2, 2.5
     rank - US, China, Japan, Germany, india-9
   
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Purchasing power parity (PPP) is an economic theory and a technique used to determine the relative value of currencies, estimating the amount of adjustment needed on the exchange rate between countries in order for the exchange to be equivalent to (or on par with) each currency's purchasing power.
It asks how much money would be needed to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign exchange rate


GDP = private consumption + gross investment + government spending + (exports - imports), or
Production
Income
Expenditure
GNP = GDP + Ext income

GDP rank 11, PPP 3






GDP
$1.676 trillion (nominal: 11th; 2011)[1]
$4.457 trillion (PPP: 3rd; 2011)[1]

GDP Growth 5.5%

Per capita $1400

GDP by sector agriculture: 17.2%, industry: 26.4%, services: 56.4% (2011 est.)

Inflation 7.5%

BPL 33%

Main Industry - Software, textile, steel, pharma, cement

Exports $300 billion iron, steel, auto, jewelry UAE US
Imports $450 Billion petrol, machinery China, US
External Debt $290 billion
Budget deficit 5.9% of GDP (2011–12)
Revenues $196.4 billion (2011 est.)
Expenses $308.8 billion (2011 est.)
Economic aid $2 billion (2008)
SnP rating      negative, BBB-
Foreign Reserves $300 billion


Labour force 48 crores
Labour force
by occupation agriculture: 52%, industry: 14%, services: 34% (2009 est.)
Unemployment 9.8% (2011 est


   
   
 
budget deficit - 6%
budget passed in legislature and approved by President
property tax-minicipal, sales tax - state, income tax - gentral
tax exepmt 1.8 to 2
GDP growth 6.5% (FY 2012)[2]
GDP per capita
$1400
Exports $298.2 billion - precious stones, software
Imports $451 billion - crude oil
Gross external debt $267.1 billion

GDP by sector agriculture: 17.2%, industry: 26.4%, services(IT): 56.4% (2011 est.)
IT to GDP - 4.5%

HCL - 4.2B
TCS - 10 / p-2
Infosys 7- 1.7
Wipro - 7 - 1
Satyam - 1.16

hamid ansari

Information technology consulting - is a field that focuses on advising businesses on how best to use information technology to meet their business objectives.
In addition to providing advice, IT consultancies often estimate, manage, implement, deploy, and administer IT systems on businesses' behalf, known as Outsourcing

Strategy is a plan of action designed to achieve a specific goal. Strategy is all about gaining (or being prepared to gain) a position of advantage over adversaries or best exploiting emerging possibilities.
As there is always an element of uncertainty about future, strategy is more about a set of options ("strategic choices") than a fixed plan.
Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of ?rms in their external environments.[1] It entails specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives, and then allocating resources to implement the policies and plans, projects and programs. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives. Recent studies and leading management theorists have advocated that strategy needs to start with stakeholders expectations and use a modified balanced scorecard which includes all stakeholders

Steps in decision manking -
1. Is it required?
2. What are Req?
3. get options
4. analyze options
5. criteria on which options will be judged
6. criteria vs options
7. combine is possible?
8. decision

Information management (IM) is the collection and management of information from one or more sources and the distribution of that information to one or more audiences
Management means the organization of and control over the structure, processing and delivery of information

Rahul bajaj - He took over the reins of Bajaj Group in 1965. Under his stewardship, the turnover of the Bajaj Auto the flagship company has risen from Rs.72 million to Rs.46.16 billion. Rahul Bajaj created one of India's best companies in the difficult days of the licence-permit raj. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer in India and its Chetak brand had a 10-year waiting period.


***************************************************
Learn details about your company like sales, profit, # of employees - Ex mine was Ebay -
GSI Commerce is an eBay company specializing in creating, developing and running online shopping sites for brick and mortar brands and retailers.
The company also provides a variety of marketing, consumer engagement, customer care, payment processing, fulfillment, fraud detection, and technology integration services. GSI Commerce has over 500 clients.

ebay - June 2011 - $2.4 B... net revenue - $1 B
Emp 5000


****A few things about terms you came across in your career
marketplace
cnt
peers dislike - trust
why iimc - confidence to peers, so much to study
trigger - isb passout
short term long term
sop
3 essays
hcl qoq yoy

Saturday, December 21, 2013

So How is Life during MBA @ IIM

So How is Life during MBA @ IIM?

After getting my PGPEX degree on 5th April 2014, I think its a good time to share what to expect during your 1 year at IIM Calcutta or for any other such college.

Academic Structure - 
To start with, there are 6 terms, each of 45 days and the last week is for exams. Based upon the grades received, the final CGPA is calculated at the end of the 6th term.
Also, IIMC had an International Immersion program during the 4th term and it lasted for 2 weeks. We visited business school in Germany/England.

Semester Structure - 
There are usually 6-8 subjects in each term. Some require a lot of input and efforts while others are case based.
Case Studies - Basically a 8-15 pages of a business story which usually ends with deciding upon the future strategy. You should read the cased and come prepared to the class where the Prof asks class to participate in a discussion and device a solution to the questions raised in the case.
Assignments - These can ask you to prepare a 2-20 pages document on a business topic. Be careful about plagiarism.
Presentations - Its a group exercise where you share your understanding about a business situation/case and also propose solutions.

Exams - 
Some questions - theory or case based - but passing in subjects is not difficult.

Load - 
People do study a lot during the initial months (1-2 hrs of study + assignments + case pre-read + report preparation), but later on, people get busy with placements, and once that happens, well, its chillax time thereafter unless you are in the race for being a topper.

Placements - 
Placements start during the last part of 4th term or the early part of the 5th term. Its a very requirement and profile based selection process and students are picked in small numbers by each company. Some companies don't select even a single person while others can take up to 6-8. Companies select candidates which they find most fitting hence the prior experience is very critical. Lateral shifting is difficult but not impossible. Shifting to Management Consulting, FMCG etc without prior experience is very difficult.

Roles Offered - 
Manager level roles and usually in the industry where you came from. Packages range from 18-22 LPA.

Your Class Rank Significance - 
None. The grades are not shared with recruiting companies (except for 2-3) so feel safe :)