from the www.advancedge.com EDITOR-IN-CHIEF Kamlesh Sajnani
EDITOR Rohit Pithauria
Even the fortune favours the brave, and this country is of the brave and young. History is inundated with stories of the young who have changed the tides of gloom our nation ﬁnds itself in now and then. We are talking of the spirit of entrepreneurship that has shaped and is shaping the destiny of the nation.
EDITORIAL Sr. Correspondent: Aditya Prakash Iengar
The July cover Young Guns celebrates ten such MBA entrepreneurs who with their fortitude and business acumen have beguiled fate. These
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DESIGN Uma Shirke
entrepreneurs shunned the plum corporate life and converted simple ideas into million-dollar ventures. The ideas are as diverse as possible - from an ambulance service, a multi-cuisine food chain, cloud communication, waste management, technology solutions to classrooms, e-commerce, cab service
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to power management, etc. Instead of being a part of corporate world as a designation, these entrepreneurs have created job opportunities for others as well. In this issue we offer a comparative study of top MBA institutes such as IIM Lucknow, Faculty of Management Studies, XLRI, JBIMS, among others, and provide their USPs to help you make an informed decision while picking a college. We also provide you an exhaustive list of scholarships available to fund the coveted management education.
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The Career Watch section elucidates about the trove of opportunities available in the ﬁeld of Media Management and the courses at various top management institutes.
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CONTRIBUTORS Gaurav Sharma, Mahesh P, Reshmi Majumdar
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Then, we give a lowdown on the new Integrated Reasoning section in the GMAT and tell you the ways to tackle it without breaking a sweat. Also, Head - HR (IFM), Jones Lang LaSalle India, talks about the career prospects in Facilities Management. We hope you make the most of the information and embark on a ﬂourishing MBA journey.
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I wish you the best and success in all your endeavours.
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Rohit Pithauria Advanc’edge MBA March 2011 1
Contents Contents First Step 04 |
COVER STORY Young Guns
Manu Kumar Jain
Sameer Maheshwari Prashant Tandon
July 2012 www.advancedge.com March 2011
FM: Facilitating Career Growth
Success Street 45 |
Are you being micromanaged?
STUDENT INTERVIEW Abhishek Gupta, IIM-C
Know Your Faculty
The Game of Gas
Love Lost With Facebook?
GDP Takes A Dive
Munish Thakur, XLRI
MBA Buzz 14 |
Career Watch 32 |
The Business Of Communication
Take Your Pick from the B-School Pool
Region Focus 38 |
Siestas, Bullﬁghts, Business
Study Hour WORD DOSE
22 | 26 |
Funding the MBA dream Tackling IR
Disclaimer : The views expressed in the articles by contributors and others are not necessarily those of the Publishers, unless speciﬁcally stated therein. While no effort is spared in ensuring the accuracy of the information published herein, readers are advised to reconﬁrm the current facts before acting upon any such information. The Publishers regret their inability to accept responsibility for any inadvertent errors of commission or omission in this issue. Readers are recommended to make appropriate inquiries before incurring expenses or entering into commitments in relation to any advertisement appearing in this publication. The publishers do not vouch for any claims made by the advertisers of any products or services. The Publisher, Printers or Editor shall not be held liable for any consequences in the event of such claims not being honoured by the advertisers. All rights reserved. No part of this publication may be reproduced, in any form or means, or stored in a database or retrieval system without prior permission from the publisher.
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Advancâ€™edge MBA July 2012
FIRST STEP Cover Story
Spirit of entrepreneurship cradles the dream of making it large. We proﬁle ten such entrepreneurs who have chosen to become the masters of their destinies. Gaurav Sharma
Waste, No More here everybody saw waste, the Gupta brothers saw potential. Attero Recycling was founded by brothers Nitin Gupta and Rohan Gupta in the year 2008 with an objective of providing an environmentfriendly solution to the problem of e-waste. With its end-to-end e-cycling plant, zero dumping technology and state of the art e-waste treatment unit, it is a path towards a better future – for e-waste as well as the planet.
Green all the way
Nitin Gupta, 33 } }
Venture: Attero Recycling Education: MBA degree from New York University, Stern School of Business; B.Tech in Electrical Engineering from IIT Delhi Date of incorporation: 2008 Investment: Series A funding: $6.3 million from IndoUS Venture Partners and Draper Fisher Jurvetson during its inception (2008); Series B funding: $8.3 million from International Finance Corporation, Granite Hill Capital Ventures (The fund promoted by Dr. Shailesh J. Mehta, Managing General Partner) and existing investors. (2010-2011) Turnover: INR 20 crore in FY 2010-11 Future Targets: To set up more e-waste recycling plants in India and abroad
Advanc’edge MBA July 2012
Attero, which means ‘waste’ in Latin, might just be the luckiest enterprise. The firm raised $6.3 million from venture capital firms IndoUS Venture Partners and Draper Fisher Jurvetson in Series A at the time of inception. In 2010, Attero raised $ 8.3 million in Series B funding from International Finance Corporation, Granite Hill Capital Ventures and the existing investors. The company has a capacity of recycling 36,000 tonnes of electronic waste per annum. It has an integrated e-waste recycling facility in Roorkee, Uttarakhand, with more than 200 clients, which include Wipro, HCL, Tata Teleservices, LG, Visa, Qualcomm and Google. “It is a billion-dollar market in India and is growing 25% every year. Plus, we get carbon credit approvals for recycling
Do not get deterred. Focus on two things: right team and business model.
the waste,” says Nitin Gupta, chief executive, Attero. The company has set up an automated and integrated electrical and electronic waste recycling plant in Roorkee and Bengaluru. It currently services 100 cities across 22 states in the country. How does it work? Attero puts the e-waste through a process that extracts iron, non-ferrous metals and plastic. Precious metals such as copper, nickel, zinc and lead are further separated and recycled. The leftover waste is disposed off at governmentapproved landfill sites.
After completing MBA, Nitin wanted to come back to India and start his own enterprise. “The idea germinated when we had a major problem in disposing off our old laptop,” shares Nitin, adding, “We figured out that it was not only an environmental issue but also a viable business option. Very few people have an opportunity to do something socially relevant and also make money.” The MBA degree from a reputed college provided Nitin a good network and helped him identify the talent to join his enterprise. But even the brave don’t have it easy. “When you operate or start operating in a niche product, the whole ecosystem is missing. You do not find talented employees to join you. The government control deters you,” mentions Nitin. Attero, however, has conquered it all and currently employs 125 people. With 40 clients and two plants currently, Attero aims to set up more recycling plants in India and abroad. www.advancedge.com
Cover Story FIRST STEP
Care On Wheels S weta Mangal is the first woman entrepreneur in her family. After completing her studies, and working for a year in a software company in the US, Sweta packed her bags and came to Mumbai. Not to join her father’s real estate business in Rajasthan but to try and carve her own niche.
The first steps
Sweta Mangal, 36 } Venture: Ziqitza Health Care Limited } Education: MBA, Rochester Institute of Technology, Rochester, New York (USA) (2000); Gurukul Chevening Scholar from London School of Economics (2007), B.Com (H) Jesus and Mary College (1997) } Date of incorporation: Nov 2002 } Investment: Rs 15 lakh } Turnover: Rs 80 crore (FY 2011-12) } Future Targets: Turnover of Rs 120 crore in 2012-2013
Five friends with an urge to provide world-class ambulance service came together to form Ziqitza (derived from the Sanskrit word chikitsa, meaning medical treatment and Zigyasa meaning quest for knowledge) when one of the friends faced an emergency of driving his mother to hospital when she choked in her sleep. Absence of good response service, like the 911 in the US, led the team to research and prepare a white paper to present to the government. However, they soon found out that the government had tried its hand at this initiative, with little or no response. Soon, this led to Ziqitza hiring two ambulances on pilot basis and running them for two years as a charity. But having realised that charity wasn’t the way to grow and the model has to be self-sustainable, the team with an initial investment of Rs 1.5-2 crore hired more ambulances and staff, and started running the 1298 service on a cross-subsidy model. The side panels of the ambulances are used for advertising to generate revenues. Recently, 18 advanced Life Support Ambulances were launched in Alleppey on April 21. The ambulance business operates both in B2B and B2C category. The B2B brand Dial 108 operates in conjunction with the government and is available in Bihar, Rajasthan, Trivandrum and Punjab. B2C brand Dial 1298
operates in Mumbai and Kerala.
Finding the right people to be a part of Ziqitza was a tough challenge for Sweta. But her passion and persistence paid, and today the company boasts of 4,800-strong staff and 850 ambulances. Raising capital was another challenge. “Venture capitalists could not understand social service with a business motive,” she insists. Currently, they not only have national players investing in their venture but global VCs are equally interested.
It usually takes five rejections before someone agrees to fund your venture. If the idea is good, keep patience, be persistent, and the result will show.
“The government decided it wanted to run an emergency service under the 108 number, but wanted private participants to implement the project. Ten state governments floated tenders and Ziqitza won eight,” Sweta shares optimistically.
The MBA edge Sweta says, “MBA prepares you to face the world. It prepares you to present your ideas and work in an impressive way.” Finding inspiration from everything that happens around her, Sweta believes in the Mahatma Gandhi ideology of, “If you believe in something, the world will follow.”
Accolades Ziqitza’s success story is discussed as as a case study at Harvard Business School, Oxford University Said School, Columbia Business School and University of Michigan. Advanc’edge MBA July 2012
FIRST STEP Cover Story
Fashioning The e-commerce
Manu Kumar Jain, 31 } Venture: Jabong.com } Education: MBA from Indian Institute of Management, Calcutta (2007), Bachelors from Indian Institute of Technology Delhi (2003) } Date of incorporation: October 2011 } Investment: Initial funding
journey which started a few months ago, has been extremely fast-paced, making Jabong.com one of the fastest growing e-commerce companies in the country. According to AlexaComScore data, Jabong.com figures amongst the top five e-tailing companies. And the e-venture has grown rapidly to offer over 400 brands with more than 50,000 products.
be the fastest growing e-commerce company. “Starting with less than 10 people, today we have a big talent pool. Most of our talent comes from varied background such as IIT, IIM, ISB, Harvard, Wharton, Oxford, McKinsey, BCG, Bain, and AT Kearney,” shares Manu, who believes that an MBA made him more familiar with the business environment and confident about tackling the challenges.
Journey of Jabong
Manu Kumar Jain, one of the cofounders of Jabong.com, did his MBA from IIM Calcutta in 2007. He was then offered a job as a management consultant with McKinsey & Co, where Manu spent five years. Even though it was a dream job, Manu had an inclination to become an entrepreneur. He founded Jabong.com, an e-tailing venture, with Praveen Sinha and Arun Ram Chandra in October 2011. “A management degree helped me become familiar with the dynamic corporate environment. Today’s corporate environment is complex and holds a lot of challenges. B-School training helps us to be more polished and take up today’s challenges in a more professional manner. However, we learn way more on the job than the B-school training,” says Manu. The journey has reaped dividends, with the company now claiming to
Do what you believe in. Never underestimate yourself.
Advanc’edge MBA July 2012
Jabong boasts of cutting edge e-commerce platform, highly experienced buying team, agile warehouse system and state-of-the-art customer care centre. With strategies in place, Jabong aims to become the market leader in the category. “We secured initial funding. Getting the funding was not very difficult as our idea was strong and promised good returns,” he says, even though he remains tight-lipped about the investment and other financial details. “Well, nothing comes easy. The main challenges faced include finding the right talent, getting the right brands on board, and ensuring high quality service delivery – differentiated from the competition,” shares Manu. Jabong currently fights tough competition with many e-tailing websites wanting a share of the consumers’ wallet. “Our focus is on creating a superior shopping experience by continuously adding more international and national brands in our portfolio along with cash on delivery, 24X7 customer service, free shipping and 30-day return policy,” he concludes. www.advancedge.com
Cover Story FIRST STEP
What’s Cooking? he dynamic duo of Gaurav Ahuja and Neha Ahuja quit their plush corporate careers to work towards establishing a homegrown quick service restaurant (QSR) chain. Red Ginger Hospitality is a result of years of research. Gaurav Ahuja, the man behind the brand, saw an opportunity in the missing organised Indian food scene and took the well-measured chance. Today, Red Ginger Hospitality – a multibrand restaurant company – owns four brands: Cultures World Cafe, Mad about China, Madras Mail and Indian Tadka.
Gaurav Ahuja, 34 } Venture: Hospitality
} Education: Indian Institute of Management, Lucknow (2003), Indian Institute of Technology, Kanpur (2001) } Date of incorporation: 2008 } Investment: Angel investment of $5 million; $15 million in June 2012 } Future Targets: Planning to open 250 outlets in the next three years in Indian and overseas; Looking at closing the FY 2012-13 with Rs 20 crore
After doing his MBA from IIM Lucknow, Gaurav Ahuja worked with Standard Chartered Bank as a Global Management Trainee in Singapore. Bitten by the entrepreneurial bug and regular visits to Hard Rock Café gave him the idea to start a venture of his won. Organised retail had just started to grow in India and Gaurav sensed the huge potential. MBA gave him the edge to set up a new venture from scratch. “An MBA from the top school helped me tremendously. It teaches about each and every function of managing a business. Marketing teaches you to create and sell your own brand. The theories, which one underestimates, come to help when you are building a team,” insists Gaurav. He started the venture with his wife and travelled across the country to learn the nitty-gritty of the business. “I travelled across 15 cities in India, met people who were doing well in the restaurant business. This also gave me the opportunity to sign up people for my team. I actually counted the footfalls at various places; enquired about the rents, average ticket size, etc. I
If you have a bright idea, don’t sit on it. Success stories are for those who execute the idea to perfection.
learned the nitty-gritties of the business and spoke to a lot of people, including the restaurant managers, cashiers, store incharge, serving staff, etc. This helped me understand the business better,” shares Gaurav. When he came back, the first restaurant was launched and he hasn’t looked back since. A team of 550 people across 10 cities is led by Neha Ahuja, Head-Marketing, Red Ginger Hospitality. On a corporate level, Gaurav says that they do about 12-13% EBITDA margins. “We are targeting about 17% going forward.” With 28 operational outlets in 10 cities and 60 in the pipeline in India and abroad, he has put Red Ginger Hospitality on the national retail map in a short span of four years. Recently, Red Ginger touched the 30-restaurant mark with the launch of Kolkata outlets.
Operating profitably “We have been extremely particular about the stores we open; they need to be profitable at least by the first six months of their operation and not two-three years,” says Gaurav. What also helped him is the recession. “When we began, retail rentals were very high. When recession began, the brand signed on many properties at right prices. The recession also saw not-so-serious players shutting their shops.” An angel investment of $5 million helped the group spread their wings. Recently, they also garnered a funding of $15 million to fund their expansion plans. Advanc’edge MBA July 2012
FIRST STEP Cover Story
Health Creates Wealth
Do not jump on the wagon of being an entrepreneur without doing market research.
Sameer Maheshwari, 35, Prashant Tandon, 32
Education: MBA from Stanford Business School (Prashant); Harvard Business School (Sameer)
Date of incorporation: March 2011
Investment: $1mn in April 2011 from Sequoia Capital and Kae Capital; $7.5mn in December 2011 from Omidyar Network, Sequoia Capital and Kae Capital
Turnover: Rs 8 crore in 2011
Future Targets: Generate Rs 20 crore revenue in next six months
Advanc’edge MBA July 2012
ndia is a burgeoning e-commerce market, and intelligent entrepreneurs are taking advantage of this trend. Founded in 2011 by Sameer Maheshwari and Prashant Tandon, the e-commerce company HealthKart (www. healthkart.com) focuses on consumer healthcare products. Additionally, the company offers free counselling to its customers to educate them about healthcare products.
Logging on to success
The founders, Prashant and Sameer, started an online practice management solution for doctors in November 2009. While 50 doctors used the service, it became difficult to scale up the business and it wrapped up after a year. Undefeated, they began again by launching an e-commerce portal dedicated to healthcare. Within a month, they raised $1million from Sequoia Capital and Kae Capital. Healthkart in December 2011 raised another $7.5mn from Omidyar Network, in addition to existing investors.
The well-funded enterprise reported over 40,000 transactions and clocked Rs 8 crore as revenues in 2011. Growing at 30-50% month-on-month since the launch, according to the founders, the company sells over 12,000 products across fitness, health and personal care categories. HealthKart also sells various health services such as preventive health packages, diagnostic tests and gym memberships. From a humble team of three in March 2011, the company boasts of 100 people currently. “We have been lucky to gather a high quality motivated team of over 100 professionals, with 13 IITians and nine with previous startup experience. Hiring quality talent is the biggest bottleneck for our growth,” Prashant shares.
While both the founders did their B.Tech from IIT Delhi, Prashant pursued his MBA from Stanford Business School and Sameer graduated from Harvard Business School. Prashant then worked at McKinsey & Co in San Francisco for two years, where he provided strategic advice to Fortune healthcare companies. Sameer worked at UBS Investment Bank in San Francisco. The MBA, coupled with domain expertise, helped them to network with the investor community besides helping them to structure their thinking and strategies. They returned to India in 2009 to start their own enterprise and teamed up to form Heathkart. “We wish to scale up the business at a sustainable pace. We are investing a lot in processes, analytics and automation, which will allow us to use the capital efficiently as we grow. In 3-5 years from now, we want to be the best-known consumer health brand,” concludes Sameer. www.advancedge.com
Cover Story FIRST STEP
Three Friends & Marketing Venture C onvonix is a full-service digital marketing firm based in Mumbai. Founded by Vishal Sampat, Pallav Jain and Sarfaraz Khimani, who have been friends for the past two decades, the firm was a result of learning from their earlier ventures in the domain and understanding of the market need at that time. Convonix boasts of being India’s first dedicated search engine optimisation (SEO) firm in 2003.
If you want to grow a business, you have to give it a good shot. If you have a fallback option in place, you are already expecting Plan A to fail. If you do not back your idea, nobody will.
Eyeing the opportunity
Sarfaraz Khimani, 30 } Venture: Convonix } Education: MBA from IIM Calcutta (2008), B.E. Electronics from Thadomal Shahani Engineering College, Mumbai (2003) } Date of incorporation: 2003 } Investment: No external funding. } Future Targets: Targeting $5 million in FY 2012-13, and to continue growing at 70% yearon-year.
Sarfaraz Khimani, COO and cofounder of Convonix, is an IIM Calcutta alumnus. He believes that an MBA from a top B-school such as IIM not only nurtures the thoughtprocess but also helps to build a great network. Having tried his hand at entrepreneurship at quite an early age with his friends (and now colleagues) in the form of a teen portal, entrepreneurship remained his calling. “Working on a teen portal and trying to drive qualified traffic to the portal is what really led us to the idea of starting up Convonix. We quickly realised that the Indian market was not ready and didn’t understand the value of our offering, so we focussed completely on the overseas market, first with the US and then with Europe.
Being able to provide high quality services at a lower cost than the local firms based in those geographies worked in our favour,” mentions Sarfaraz. Convonix like most other IT companies hardly incurred any set-up cost and has remained profitable and debt-free since day 1.
No growth pangs With a clear vision of maintaining a healthy profitability and remaining debt-free, Convonix has been witnessing a healthy growth rate of 70% year-on-year. In the last three years, India has become an important market for Convonix with 35% of business coming from this market and many corporate houses as part of their client roster. Having grown to a 200-strongteam, Convonix boasts of a strong handpicked top-management team. Their rigorous digital marketing training programme lasts close to three months. Sarfaraz is undeterred by the rising competition in the market. He says, “While in 2003, cost was our advantage, in 2012 we are probably more expensive as compared to our peers in the Indian market. What works to our advantage is that we have always been focussed on ROI and providing value to our clients, and has evolved from being a service provider to a solutions provider which is what our clients require. Digital solutions has experienced a phenomenal growth rate over the past couple of years in India and we have always been ahead of the curve in this field, which has given us a clear headstart over our competition.” Advanc’edge MBA July 2012
FIRST STEP Cover Story
Over The Clouds here is a next generation Internet-based online fax solution that provides you the flexibility to send and receive faxes directly through email. It’s called Superfax. Then there is Super Receptionist, a cloud phone system that answers and routes calls and much more. It’s like having your own personal assistant 24/7. And, a cloud Tollfree IVR. At the heart of Knowlarity is a cloud telephony platform called ‘Knowlus’. This end-to-end platform has been developed using open source technologies. Company’s mission is to deliver ground-breaking telephony solutions. With over 10 awards, ranging from Best Startup Company by SiliconIndia to Aegis Graham Bell Awards 2011 for the innovative cloud services, Knowlarity Communication was set up in 2009 by Ambarish Gupta with a vision to enable SMEs in India with productivity telephony solutions.
Ambarish Gupta, 34 } Venture: Knowlarity Communications } Education: MBA, Carnegie Mellon University, Pittsburgh PA (2007), Computer Science and Engineering, IIT Kanpur (2000). } Date of incorporation: August 2009 } Investment: $8.5 mn } Future Targets: $5-$10 mn in FY 2012. Expansion in international markets.
Advanc’edge MBA July 2012
After completing MBA from Carnegie Mellon University, Pittsburgh USA in 2007, Ambarish joined McKinsey & Company as Strategy Consultant. He worked for Fortune 500 companies helping them with corporate strategy. There he discovered the importance of customer analytics. “Fortunately, around the same time I had a chance to work with an Indian company and got the first-hand experience of the massive growth the telecom industry was going through. I was convinced that very soon everyone in emerging markets will have telephone and enterprises would need hosted telephony. I did not want to miss this great opportunity. I started Knowlarity with that thought in 2009,” shares Ambarish. Ambarish started the venture from the office of an IIT friend. “I hired a
couple of engineers and built the initial system. Once revenue started getting generated, angel investment followed suit,” he says.
Degree and beyond Ambarish believes that if you have the zest, not having an MBA degree is a very small issue, but adds, “Management education definitely helps. Management theories around operations, strategy, marketing and sales are actually applicable to the real world. Starting a company is enough of a risk. The understanding of standard processes and best practices helped me reduce the risk in the venture.”
Start early. Actually, entrepreneurship is all about trying and failing and then learning from the failure. Every failure is another step towards success. For me, my pre-MBA venture allowed me to look at the management theories with a more realistic lens.
Knowlarity has received multiple rounds of investment. He shares, “We received close to $2 million in angel investment early in the venture. Recently, we secured another $6.5million from Sequoia Capital. We found that if one has a sound track record and business model, it is not difficult to raise funds.” With over 200 people working at Knowlarity, the growth has been phenomenal in the past two years. “Ventures, by definition, are full of challenges. I think everything comes down to having the right people in the company. We are blessed to have those high energy go-getter people in the company,” concludes Ambarish. www.advancedge.com
Cover Story FIRST STEP
Saving Power, Generating Money n the highly-competitive world, operating cost has become a major concern for all industries. Poor quality and inefficient usage of power can increase the operating cost by almost 100%. Shwetank Jain realised this. And thus, was born P2 Power solutions in 2007. The firm aims to reduce operating costs, cut down on unknown failures and make the system more efficient by escalating competitiveness through their unique products and services. P2 Power helps industries to strengthen their bottom-line using its technical expertise and avant-garde technology.
Starting young The electrical engineering major from IIT-Kharagpur won Concipio 2006, a business plan competition held at
Shwetank Jain, 27 } Venture: P2 Power Solutions } Education: XLRI Jamshedpur (2010), B.Tech, IIT Kharagpur (2006) } Incorporation: 2007 } Investment: Funding from IIT } Turnover: Rs 2.5 crore } Future Targets: Targeting a turnover Rs 8-10 crore in FY 2012-13. Looking to expand in other countries.
If you only want fame and money, then entrepreneurship is not for you.
IIT-Kharagpur by TIETS (Technology Incubation and Entrepreneurship Training Society). Impressed by his product, the institute offered to incubate the project. In February 2007, Shwetank Jain got the initial seed capital from IIT and two months later got his first order from the media company Dainik Jagran. Shwetank did MBA from XLRI while running his venture. Shwetank’s Intelligent Power Conditioner with Hybrid System Integrator won the first prize at the India Innovation Initiative (i3) National Fair held at IIT-Delhi.
P2 Power was selected amongst the Top 31 Technologies under the DSTLockheeed Martin India Innovation Growth Programme 2010. While doing his MBA, Shwetank worked on the prototype and improved his product to reach the commercial level. The products deliver Innovative Engineering Solutions with specific focus on energy efficiency and power quality enhancement. The company offers a wide range of innovative products in the field of advanced power electronics. Post XLRI, Shwetank moved to a new office in Noida and also moved the manufacturing from the initial setup at Kharagpur campus.
Managing funds and business “I got the initial Phase 1 and Phase 2 funding from IIT,” says Shwetank. The company achieved break-even in 2010-11. With clients such as Radisson, Hindustan Times, Amar Ujala and Hero Group, P2 Power now employs around 35 people, up from five people in 2010. Shwetank has had his share of challenges. “I face challenges everyday. It began with investment, then developing the prototype, marketing the product singlehandedly and managing finances. I was new to every aspect of business,” he mentions. An MBA degree honed Shwetank’s business acumen to market his product, and also made him “familiar with business jargons.” Having made an impressionable mark in the Indian market, P2 Power is also working in Africa with Bharti Airtel. “We are opening offices in Dubai and Sri Lanka,” Shwetank discloses. Advanc’edge MBA July 2012
FIRST STEP Cover Story
Bringing Technology To Classrooms
he name might not say it all, but Edutor Technologies is raising the bar when it comes to delivering technology solutions to students across India, apart from building education platforms centred around tablet devices.
The man and the mission
} Revenues in FY 2011-2012: Rs 2 crore
Prasanna Boni began his entrepreneurship early. His first startup, a software product company called Yasu Technologies, got acquired by SAP in 2007. “After my first startup, I was sure that I wanted to be an entrepreneur in education space. Given my experience with technology products, a product dealing with technology in education was a natural choice. I worked for a year (2008) with NGOs in the education domain to understand the grassrootlevel issues and gain some experience,” says Prasanna. He did his MBA from IIM Ahmedabad in 2009. His classmate from IIT-M (Ram Gollamudi) proposed the idea of selflearning solution using touchscreenbased devices. This excited him and he immediately kickstarted the company in April 2010. Since he was sure of what he wanted to do, he did not even participate in the placement process. The four founders – Prasanna Boni, Ram Gollamudi, Sravan Narasipuram and Ramesh Karra – quickly built the core team. “This was the first thing we did and after that it was all about planning, executing, taking to market and revising quickly,” mentions Prasanna.
} Future Targets: Rs 300 crore plus by 2015
Incubating the idea
Prasanna Boni, 37 } Venture: Edutor Technologies India Pvt Ltd } Education: PGPX, IIM Ahmedabad, BTech, IIT Madras } Date of Incorporation: April 2010 } Investment: Rs 2 crore from Hyderabad Angels and personal resources
Advanc’edge MBA July 2012
Incubated by IIT Madras’s Rural Technology and Business Incubator,
The next decade in India is for entrepreneurs and the people who are willing to take up the challenges are the ones who will win in the end.
Edutor is working under the guidance of leading educators and the Ministry of Human Resource Development. With 40 people working for the enterprise, the Edutor founders got initial investment by pooling in their resources and by borrowing from friends and family. The venture received Rs 2 crore investment from Hyderabad Angels in March. “I think our team, idea and execution capability is what secured the funding,” claims Prasanna. The company is focussed on leveraging emerging technologies to engage learners while driving efficiencies and effectiveness in educational institutes’ teachinglearning processes. Their products include Augmented Classroom Solution, which can be ported onto any Android Tablet, StudentTab and Advantage e40 that boasts of being India’s first handheld learning device. “The MBA degree helped in broadening my thought process. IIMA’s case study methodology really excited me and possibly engaged me more than the traditional method would have,” he insists.
“We believe we have a good chance of achieving the target of a Rs 300-crore plus turnover by 2015,” concludes Prasanna. www.advancedge.com
Cover Story FIRST STEP
Hail A Cab enterprise and gain rich experience,” they mention. Aprameya and Raghunandan started by doing some initial research. They spoke to the drivers, operators, and customers to get an idea on whether the market is ready for something like TaxiForSure (TFS). After receiving positive feedback, they went on to build their first product with the help of some freelancers. Post that they got a full-time technology person to take the online initiative further.
On the road
Raghunandan G, 30 Aprameya Radhakrishna, 31
} Venture: TaxiForSure.com } Education: MBA from IIM-A; BE from NIT Suratkal } Date of incorporation: 14 Feb 2011 } Investors: Accel, Helion and Blume Ventures } Future Targets: Looking to expand into Mumbai, Delhi and Pune
ost of us do not like waiting, especially for a taxi, and sometimes hailing a cab can be a harrowing experience. IIM graduates Aprameya Radhakrishna and Raghunandan G in order to ease this ordeal thought of an idea to hail a taxi at the click of a button, and founded www.taxiforsure. com in 2011.
Aprameya, a quintessential dreamer, is not afraid of experimenting. Before this venture, Aprameya was the Head of Business Development for PDS at Jones Lang LaSalle India for about three years. After a successful threeyear stint with Feedback Ventures as a consultant, Raghunandan decided to follow his heart to become an entrepreneur. An opportunity presents itself in smallest of things. “We used to travel a lot in our past jobs. The experience of getting a taxi was horrendous and we wanted to change that. Also, there is always a chance of doing really well when you start your own
The MBA degree helped connect the founders with the alumni. “It helped us get people to listen to us and open doors easily,” they say. They believe that they could have started the venture without the management education, but “the management education has definitely helped us structure ourselves and think of the business from all the necessary
If you have an idea that you believe in, start as early as possible.
angles,” they add. TaxiForSure has already secured an investment from Accel, Helion and Blume Ventures. Did the tough economic situation not put the roadblock in securing the investment? “We feel that investors would always back a good idea irrespective of the economic situation and part of the reason would be being at the right place at the right time,” opine the founders. With 20 people who are a part of this venture now, TFS did have a bumpy ride attracting the ‘right’ people to join them. Growing at the healthy speed of 60% monthon-month, TFS aims to be ‘the taxi player’ in the country making every possible quality option for taxis readily available across India. Advanc’edge MBA July 2012
Take Your Pick From B-School Pool
Having trouble deciding which B-school to choose? We selected a few key management institutes and compared them using several parameters. Aditya Prakash Iengar
IIM-Bangalore and IIM-Kozhikode The comparatively newer IIM-K has enjoyed quite a good record since its establishment in 1996. Listed among the top 10 in various B-school ranking lists this year, IIM-K’s 2012 batch of 317 graduates received as many offers from 135 companies. Of course, IIMB’s 363 students got a mammoth 423 offers from 126 companies, showing that the older cousin is still ahead. In fact, in Business Today’s ranking, IIM-B has clinched the numero uno spot. It is still in the top three in other rankings, including the Economic Times. IIM-K has climbed the ladder this year to 6, up from 12 last year.
By raising its course fee by around Rs 2 lakh, IIM-B will now leave a Rs 15 lakh-sized hole in your pocket, just next to IIM-Ahmedabad’s Rs 15.5 lakhs. On the other hand, IIM-K has gone ahead and done the opposite of all the other IIMs — by reducing its fees by around 3 per cent, it will now charge Rs 9.7 lakh for the 2012-14 course.
IIM-Bangalore } Post-Graduate Programme in Management } Post Graduate Programme in Software Enterprise Management } Post Graduate Programme in
Public Policy Management } Executive Post Graduate Programme in Management } Fellow Programme in Management (doctoral programme) Apart from this, IIM-B has also been in the limelight after it launched a new course this year called India – Women in Leadership. The 10-week course for aspiring women politicians is a joint effort by IIM-B and Delhi’s Centre for Social Research. The course is set to begin from July, and has up to 75 seats, 30-odd of which have been filled till now. IIM-Kozhikode } Post-graduate Programme in Management } Management Development Programme
IIM-B – 98 to 100 percentile IIM-K – 98 to 100 percentile Seats in 2012 batch: IIM-B has more seats to offer and the intake is of 382
seats for its PGP programme, while IIM-K has announced 300 seats.
Advanc’edge MBA July 2012
MBA BUZZ } Fellow Programme in Management } Faculty Development Programme IIM-K has also announced a yearlong empowerment programme for women who show high potential for leadership. As part of this initiative, IIM-K is also planning a series of leadership workshops targeting the best secondary/higher secondary teachers in the country in multiple sectors. A hundred teachers will be offered scholarships to participate in this programme.
IIM-K has grabbed eyeballs with its highest annual domestic package touching Rs 32 lakh, one of the highest to be declared this year. Its students have received an average annual package of Rs 14.02 lakh, which, while may not be something to write home about, is a pretty decent figure. This means that with an investment of around Rs 10 lakh plus, the ROI for IIM-K is still holding good. Though IIM-B is still to reveal its figures for 2012, it is unlikely that the institute will do so, given a decision to stop disclosing placement packages.
IIM-B’s 100-acre fully Wi-Fi-enabled campus has considerable green cover, and the institute has taken over another 110 acres for a proposed incubation centre. IIM-B has also built or is building state-of-the-art classrooms and a new sports complex, which will house a swimming pool, a squash court and other facilities. Currently, the institute has a 55,000 sq.ft library, a business intelligence laboratory, an ampitheatre, facilities for tsepak, soccer, cricket, tennis, basket ball, volley ball, throw ball, badminton, indoor games and a music room with good acoustics, electric guitars, bass, amps and a Tama drumkit. The 100-acre IIM-K too has a large green cover, is fully Wi-Fi-enabled, and houses a seminar hall, computer centre, gymnasiums and facilities for indoor games and outdoor sports like badminton, basket ball, football and cricket. The institute also has a students’ mess that has evening and night canteen facilities. www.advancedge.com
Top Recruiters IIM-Bangalore
2012 saw maximum recruitment from the Consulting sector (30 per cent), followed by Finance (22 per cent) and FMCGs (21 per cent). Consulting: 37 offer acceptances from McKinsey & Co., Boston Consulting Group, Bain & Co., Booz & Co. and A.T. Kearney, 12 from Accenture. 14 offers by Deloitte Consulting, 17 by IBM Consulting and 9 by Cognizant Business Consulting. Finance: 11 offer acceptances from ICICI Bank, 6 offers each from Deutsche Bank - CIB and American Express. Others included the Blackstone Group, Capital One, HSBC, HDFC, and Goldman Sachs. Sales & Marketing: 16 offer acceptances from Supermax, and 8 offers from Proctor & Gamble. Others included Hindustan Unilever, Kraft-Cadbury, Pepsi, Heinz, Bharti Airtel, Nokia, ITC, Johnson & Johnson, L’Oreal, Times of India, HT Media, Toyota, Star India, and Philips. Others: 5 offer acceptances each from TAS and Aditya Birla Group, and 6 recruitments from Flipkart. Others included Amazon, Hinduja Group, Mahindra & Mahindra, Lodha Group, Microsoft, Google, Zynga, and Yahoo.
The average salary this year has increased by 7 per cent, with the highest average salary reported in the General Management and Consulting sector. Consulting: 16 offers from Deloitte, 11 offers from Cognizant, and others from McKinsey, Gallup, PWC and KPMG. General Management: 6 offers from TAS, the highest across IIMs. 10 offers from RIL. Others included L&T, Mahindra & Mahindra, Olam International, Thomas Cook and Manipal Group. IT/ITES: 11 offers from HCL, with other recruiters including Capgemini, HP, TCS, Wipro, Mindtree and Aricent. Product companies such as Facebook, Yahoo, Microsoft too made offers. Other recruiters in consumer products and tech/ technology sector include Amazon, Flipkart, Ebay, Zynga, HP, Dell, etc. Finance: Goldman Sachs made 7 offers — the highest in the finance sector. Others include Nomura, Citi Bank, RBI, ICICI Bank, Yes Bank, Indus Valley Partners, SBI Caps, SBI General Life Insurance, Futures First, ICRA, etc. Others: 7 offers made by Asian Paints for their marketing and operations lineup, 4 offers from Ingersoll Rand. Other big names in the FMCG and B2B sector include P&G, HUL, ITC, Pepsi, HCCB, Airtel, Idea, Amula and 3M.
Special points to note: IIM-K has made efforts to increase its intake of women students, with 35 per cent of the class strength being women last year, the highest among management institutes. Going by the numbers, the women applicants stand a better chance at securing a seat in IIM-K. With the female student percentage being around 12 per cent in other B-schools, IIM-B too stands out with a female student strength of 26 per cent in the 2012 graduate batch. Interestingly, IIM-B decided last year to make student attendance at classes voluntary. Furthermore, it also made summer internships optional for candidates with more than 34 months of work experience. Recently, it also got the EQUIS accreditation from EFMD. Advanc’edge MBA July 2012
MBA BUZZ IIM-Ahmedabad and XLRI-Jamshedpur An acceptance letter from IIM-A might probably be the Holy Grail you were looking for, but with other institutes such as XLRI and SP Jain coming up in a big way in the last few years, considering an alternative is no longer sacrilegious. This year, Business Today has ranked IIM-A at number 3, while XLRI is at 10. Ranking by the Economic Times actually puts XLRI at number two, only next to IIM-A. In other rankings, IIM-A again retains its top spot, with XLRI coming in at number 5.
IIM-A – 99 (CAT score weightage – 70%) XLRI – 90 in XAT Seats in 2012 batch: IIM-A will offer 385 seats, while XLRI is offering 240.
} Fellow Programme in Management } Management Development Programmes } International and Corporate Programmes Like IIM-A, XLRI too offers a six-month Executive Management programme for Defence Officers. It also offers certificate programmes in Agri-Business Management and Entrepreneurship Management as well as satellite programmes.
Apart from these, IIM-A also offers a Faculty Development Programme, a four-month residential programme specially designed for faculty members of management education and training institutes. IIM-A also offers an Armed Forces Programme, a six-month full-time course specifically designed with an aim to impart the officers of the armed forces with the contemporary global management practices.
IIM Ahmedabad } Post-Graduate Programme in Management } Fellow Programme in Management } Post Graduate Programme in Agribusiness Management } One Year Post-Graduate Programme in Management for Executives } Post Graduate Programme in Public Management and Policy
XLRI Jamshedpur } Business Management, General Management Programme } Personnel Management & Industrial Relations
This year, XLRI has had the distinction of being the B-school with the highest domestic annual package (estimated on the basis of information shared by the institutes) offered to a student — Rs 40 lakh. The average domestic annual salary for the 234 graduating students of 2012 is Rs 16.48 lakh, with 284 offers made by 73 companies. Therefore, the ROI at XLRI is quite good, with the course fees standing at roughly Rs 10 lakh. IIM-A has not yet revealed the corresponding figures for 2012, however, a detailed account will be available in an audited report in July. Its 2011 batch of 315 students saw an average annual salary of Rs
As with most B-schools, IIM-A too has hiked its fees for the 2012-14 batch. A seat in this premier institute will now set you back by Rs 15.5 lakh. On the other hand, XLRI won’t come cheap either, with the institute charging around Rs 6 lakh every year.
Advanc’edge MBA July 2012
MBA BUZZ 16.36 lakh, with the highest annual package standing at Rs 37 lakh and the lowest at Rs 8 lakh. Investing in a course at IIM-A has never been a bad idea, and while the initial ROI — around Rs 16 lakh in entirety for an average package of Rs 17 lakh — may not be as attractive, it will most certainly translate into better figures later in the career.
Spread over 100 acres, IIM-A has a Heritage Campus and New Campus, both joined by an underground gallery. The fully Wi-FI campus houses a library, computer centre, gymnasium, auditorium, ampitheatre, bank and an ATM. IIM-A too has sporting facilities for all kinds of outdoor and indoor games, and is reportedly adding more. There is also a Students’ Personal and Career Development Centre to provide students, staff and faculty with a forum for personal exploration, self awareness and professional growth using psychological and psychotherapeutic services. The comparatively smaller XLRI campus is situated, according to many, at a geographical disadvantage to the IIMs, but still offers a premium experience. Like the other top B-schools, its 40 acres are fully Wi-Fi enabled, and houses two auditoriums, one of which has a seating capacity of 1,000. There are facilities for outdoor sports badminton, basketball, cricket, football, tennis and volleyball, and indoor games facilities inside the students’ residences. The institute has affiliations to local clubs and sporting associations, and students have access to swimming pools, tennis courts, squash courts and a synthetic athletics track.
IIM-Ahmedabad More than 120 companies recruited during IIM-A’s placement process. The top recruiter was IBM, with 21 recruitments across sectors. Consulting: Boston Consulting Group recruited 17 students and McKinsey & Company recruited 9 students. Accenture too recruited 14 students. Other firms included Bain & Company, Oliver Wyman, Opera Consulting, AT Kearney, Booz and Company and Deloitte. Banking: The top recruiter was the Royal Bank of Scotland, which picked 11 students for various roles in its branches across the world. Yes Bank extended 5 offers to students. Other banks and financial institutions such as RBI, DBS, Axis Bank also recruited in significant numbers. FMCG: The highest number of offer acceptances was from firsttime recruiter Supermax with 14 recruitments, with Proctor & Gamble following at 7. Other companies include HUL, Kraft and Nestle. Others: Bharti Airtel recruited 11 students for a number of roles and EXL Service recruited 9. Ingersoll Rand made 4 offers in the general management profile, as well as others like TAS, Aditya Birla Group and RPG Group. E-commerce companies such as Zynga, yebhi.com, Redbus and InfoEdge too made offers in product development, marketing and general management.
XLRI General management and consulting were the highlights of XLRI’s placement process, although the largest recruiter was from the Finance sector. In all, 284 offers were made by a total of 73 companies. Consulting: Most offers made by Boston Consulting Group and McKinsey & Co. Others included Deloitte, Gallup, Accenture, Group, Tata Strategic Management Group, Mercer, Nielsen and PWC. KPMG, Ernst & Young and IBM Consulting made the highest number of offers for their Human Capital and Business Services practices. Banking and Finance: 12 offers from Goldman Sachs. Other banks included Standard Chartered, NM Rothschild, Citibank, Nomura, Bloomberg, Edelweiss, Rabobank, ICICI Bank, YES Bank and L&T Finance. Airtel, Cairn India Energy and RIL made offers in corporate finance roles. Marketing: Bharti Airtel was the largest recruiter with 12 offers. Others included Unilever, P&G, Johnson & Johnson, GlaxoSmithKline, Nestle, PepsiCo, HCCB, Asian Paints, Marico, Castrol, Britannia, ITC, Kraft Cadbury and Lenovo.
Special points to note XLRI’s Entrepreneurship Programme was introduced keeping in mind the need for women entrepreneurs. Institute authorities said one of the fundamentals of the six-month full-time course is to provide an adequate opportunity to the aspiring women entrepreneurs (along with the men), with a focus on the tribal and scheduled caste community. The programme has enjoyed successful results, with 80 per cent of the batch launching their own ventures. Not much needs to be said about IIM-A, which is known to have been consistently at the top of B-school ranking lists, and is currently ranked 7 among B-schools across the world. Its PGP-ABM programme has been ranked the best in the world. Apart from the numerous scholarships, IIM-A also has a scholarship pact with Samsung to support five meritorious students every year, and has a collaboration with Harvard Business School. The institute also has a portal that helps its alumni get jobs they like, and it is interesting to note that in five decades IIM-A has produced nearly 1,000 entrepreneurs. www.advancedge.com
Advanc’edge MBA July 2012
MBA BUZZ NMIMS, Mumbai and SIMB, Pune Both NMIMS and SIBM, Pune are big names in the B-school pool, and are not far apart in terms of rankings. Economic Times lists NMIMS at Number 6 while SIBM is at a higher 4, while in Business Today’s ranking, NMIMS is at 16, three slots behind SIBM.
NMIMS – 210 (NMAT) SIBM – 118 (SNAP)
Seats in 2012 batch
NMIMS is ahead of SIBM as far as offering seats is concerned, upping its intake this year to 462. SIBM, on the other hand, is offering a lesser 180.
NMIMS l Flagship MBA l MBA (Entrepreneurship & Family Business) l Doctoral Programme in Management NMIMS also offers training in the voluntary services sector, with short-term courses in the areas of management of NGOs, and a Diploma Programme in Management of Voluntary Service Organisations. To promote entrepreneurship among women, NMIMS also has a 12-week programme in Enterprise Training for Women. SIBM l MBA Full Time l One Year Diploma l Post Graduate Diploma in Family Business
NMIMS was in the higher bracket this year, with the highest annual package touching Rs 30 lakh. With the total cost of the course hovering around Rs 10 lakh, an average annual package of Rs 13.04
lakh — from 121 companies — meant a decent ROI for an MBA course from NMIMS. SIBM, however, finishes close, with an average annual CTC of 11.61 lakh and the highest annual CTC at Rs 19.22 lakh. SIBM’s students of the 2012 batch received 157 offers from 84 companies.
The Wi-Fi-enabled 40,000 sq ft campus is located right on a Mumbai thoroughfare, at a walking distance from Vile Parle railway station. It has two computer centres, seminar and conference halls, and a library. There is a gymnasium in the hostels, which also have facilities for indoor games. Apart from this, NMIMS has an Audio Interactive Language Lab, which helps students develop the internal personality driven message to recruiters. SIBM’s Pune campus is also fully Wi-Fi-enabled, with a computer lab, library, 600-seat auditorium and a healthcare centre. There is also a gymnasium, swimming pool, yoga centre and a facility for aerobics. The institute also provides nutritious food for the health conscious.
While not among the top ranking B-schools, both NMIMS and SIBM are part of the A++ category institutes, a fact reflected in the course fees, which are almost as high as the IIMs. The former charges Rs 9.32 lakh overall for the course, while SIBM will set you back by around Rs 5.25 lakh every year.
Advanc’edge MBA July 2012
MBA BUZZ Top Recruiters SIBM For its 176 students, the highest recruitment (31 per cent) was seen in the FMCG sector, followed by the Banking and Financial sector (20 per cent) and IT/ ITes (14 per cent). FMCG: Offers were made by big names such as Coca-Cola India, GSK, ITC, Marico, PepsiCo India, Castrol, Asian Paints, Dabur, GSK Consumer Healthcare, Titan, Videocon and others. IT/ITes: The largest recruiter at SIBM was HCL Technologies from the IT/ ITes sector, with other big names such as Infosys, Accenture, Genpact also making offers. BFSI: Leading the pack of recruiters were companies such as Goldman Sachs, Darashaw and JP Morgan. Others included Axis Bank, HDFC, HSBC, ICICI, Kotak Mahindra, et al. Others: Consultancies such as Capgemini, Deloitte, ACNielsen and Ernst & Young made several offers, as did manufacturing sector companies such as Bajaj Auto, Tata Motors, among others. Offers were also made by DHL, Zomato, Metro Cash & Carry, etc.
NMIMS The highest number (32 per cent) of the 300 students of NMIMS was placed in the Banking, Financial Services and Insurance (BFSI) sector. The second highest recruitment (26 per cent) was in the IT/ITes sector, followed by FMCG and manufacturing sectors (9 per cent). BFSI: Among the significant players were international majors Goldman Sachs, JP Morgan Chase, Nomura, Citi Bank and Royal Bank of Scotland. Prominent offers were also made by Indian banks such as ICICI Bank, Yes Bank, HDFC Bank, Kotak Bank, IDBI Bank, Bank of India and Central Bank of India. Among the finance majors were Bloomberg, Motilal Oswal Securities Ltd., India Infoline (IIFL), Darashaw, India Bulls, SBI Caps, CRISIL, etc, while the biggies in the insurance sector included AVIVA Life Insurance, HDFC Life Insurance, Kotak Life Insurance and Marsh India. IT/ITes: Offers were made by HP, Capgemini, Infosys, Wipro Technologies, HCL Technologies, Virtusa, Polaris, Amazon, Microsoft, Google and Dell Analytics. FMCG: A traditional stronghold of NMIMS, this sector had the presence of ITC, Reckitt Benckiser, HCCB, Red Bull, Adidas, Dabur, Wrigley’s, L’Oreal, Nivea, Kelloggs, Wipro CCL, Emami, Philip Morris, Whirlpool, Videocon, Usha International, et al. Others: HT Media offered the highest package for a sales and marketing job at NMIMS. Others included DHL Express, Metro Cash & Carry, Thomas Cook, GATI, Asian Paints, Tata Motors, Godrej and Boyce. Ceat Tyresa, Nitco Tiles, De Decor and Thermax were the new recruiters. Telecom giants such as Airtel, Vodafone, IDEA, Aircel and Tata Communications offered roles of business development, marketing and corporate HR. More than 60 jobs were offered by the new recruiters.
Special points to note To address issues of social responsibilities of business and social entrepreneurship, NMIMS holds conferences and short-term programmes in the areas of micro-finance, micro-insurance and marketing of rural products via its Social Enterprise Cell. The cell’s work is spread over five areas: Knowledge development and dissemination, MBA students’ involvement in the social sector, increasing awareness of social entrepreneurship through field intervention activities, developing academic programmes in social entrepreneurship, and disaster management. SIBM has come up with an initiative called iAspire that reaches out to MBA aspirants to help them prepare for SNAP Test and GD/PI. The institute also undertakes Web Consultancy projects that deal with a wide range of subjects such as improving hit rates, developing in-house websites for companies, maintaining web content, etc.
IIM-Lucknow and FMS, Delhi While IIM-Lucknow does have the IIM brand name, don’t make the mistake of assuming that it will completely overshadow FMS. Not only is FMS itself a huge brand, in rankings too it is certainly not far behind. For instance, Business Today ranks IIM-L at 5 and FMS at 10. In Business India, IIM-L comes in at 6, with FMS five spots down at 11. In Economic Times, IIM-L is at 8, while FMS is at a lower 15.
IIM-L – 90 (CAT score weightage – 38%) FMS Delhi – 50 in each CAT section www.advancedge.com
Seats in 2012 batch
This year, there are 419 seats up for grabs at IIM-L, while FMS will offer 200 seats.
The course fees for the MBA full-time programme for IIM-L is on the higher end, like the other IIMs. For the 201214 batch, the institute is charging Rs 13 lakh. However, this is where FMS trumps every other B-school. Being affiliated to the Delhi University, FMS will charge you just a pittance — around Rs 11,000 annually, apart from the membership fee to Management Science Association, the registered students’ body.
IIM-L l PGP in Management l PGP in Agribusiness Management l Fellow Programme Experts in the field of business and data analytics are in demand, with companies increasingly feeling the need for data scientists who can analyse and interpret vast amounts of data. IIM-L offers a graduate level, year-long certificate programme in business analytics and global strategy to around 100 students. FMS Delhi l MBA l MBA in Management Services Advanc’edge MBA July 2012
Management Development Programme l Doctoral Programme FMS also offers an MBA in HealthCare Administration. The aim of the course is to provide management education to medical professionals. l
IIM-L has not revealed package figures of the 389 students (59 were women) recruited during the placement process this year. However, there were a total of 213 companies that made 446 offers. In 2010, the highest domestic annual
package was a Rs 35 lakh figure from Deutsche Bank, with the average at Rs 15 lakh per annum. FMS’ batch of 2012, consisting of 227 students, saw an average package of Rs 16.34 lakh per annum, with one of them walking away with the highest domestic annual package of Rs 32 lakh. 96 companies took part in the placement process.
The sprawling 200 acres of the IIMLucknow campus has a 30,000 sq ft library, a 15,000 sq ft computer centre and a cafeteria, the campus also
houses a shopping complex, minidepartmental stores, post office and a bank. The institute also has labs for manufacturing management decision support, IT and software management, as well as an incubation and innovation centre. The institute is not exactly known to have infrastructure as snazzy as the top IIMs, but it provides everything required. There are two libraries, one in the North Campus and one in the South. It also has a computer centre and excellent facilities for outdoor sports activities.
Top Recruiters IIM-Lucknow The highest number of offers (25 per cent) was made in the Sales & Marketing sector, followed by IT and Consulting (19 per cent each). IBM was the highest recruiter with 20 offers. Consulting & General Management: Top dog among companies in this sector was Deloitte with 16 offers. Boston Consulting Group followed with 9 offers. Infosys too made 8 offers. Other big names included McKinsey and Co, Accenture, KPMG, PWC, Ernst & Young and Wipro. In the General Management category, the largest offers were made by Larsen & Toubro with 12 offers; others included Mahindra & Mahindra, Aditya Birla Group, TAS, etc. IT/ITes: The biggest recruiter was IBM with 20 offers, followed by Cognizant with 10 offers. Others included Capgemini, GE, HCL, Tech Mahindra et al. FMCG: 8 offers were made by Proctor & Gamble, and other companies were Akzonobel, HUL, Wipro, Coca-Cola, Loreal, Colgate Palmolive, Heinz, Marico, etc. BFSI: Big players include Citi Bank, Standard Chartered, Deutsche Bank, Goldman Sachs, and American Express. Among Indian Banks were ICICI, IDBI, YES and HDFC banks. Others: In the tech/telecommunication sector, the most number of offers (8) was made by Bharti Airtel, followed by offers by Nokia, Vodafone, Aircel, HCL, Amazon, Flipkart, etc.
FMS Delhi The highest recruitment at FMS was seen in the BFSI sector at 26 per cent, followed by FMCG at 19 per cent and Consulting at 15 per cent. BFSI: Citibank and Deutsche Bank (CIB) made the maximum number of offers with 6 offers each. Others included Avendus Capital, American Express, Axis Bank, Bank of America, the Hongkong and Shanghai Banking Corporation, ICICI Bank, ING Vysya Bank, SBI Capital, Tata Capital and Yes Bank. FMCG: ITC made the maximum number of offers with 7 in total, followed by HUL’s 5 offers. Others included Asian Paints, Britannia, Dabur, Godfrey Phillips, Godrej Consumer, GSK Consumer, HCCB, Coca-Cola, Johnson & Johnson, Nestle, Procter & Gamble, Reckitt Benckiser and Wrigley’s. Consulting: Accenture led from the front with 8 offers. Aon Hewitt, Bristlecone, Capgemini Consulting, Corporate Executive Board, Deloitte (both India and US S&O), Ernst and Young and PricewaterhouseCoopers were some of the other leading consulting firms. First time recruiters Enzen Global and Benchmark Six Sigma also made offers. Others: 6 offers were made by TAS. Other heavyweights in the manufacturing sector included Jindal Steel and Power Limited, Mahindra & Mahindra, Punj Lloyd, RPG etc. Airtel, Vodafone, Amazon, eBay, Flipkart, InfoEdge and Make My Trip too made significant offers.
Special points to note: IIM-L has a system where they bring in alumni to mentor their students – one alumnus for every four students of each batch. Institute authorities feel this form of training has a direct impact on placements. IIM-L has also been accorded accreditation by the Association of MBAs (AMBA), London. The highest USP of FMS is its unmatchable ROI, with students getting offers upwards of double digit lakh figures on an average on a course fee that doesn’t even touch a lakh rupees.
Advanc’edge MBA July 2012
MBA BUZZ JBIMS, Mumbai and SPJIMR, Mumbai While not among the crème de la crème of Indian B-schools, both JBIMS and SPJIMR are in the A++ category. Business Today puts SPJIMR at 15, just two spots ahead of JBIMS as 17, while Economic Times ranks JBIMS at 10, ahead of SPJIMR at 13. Interestingly, Business India lists both institutes among the top 10, with JBIMS at 10 and SPJIMR at 13.
JBIMS – 164 (2011) SP Jain – 85 (CAT, XAT), 680 (GMAT)
Seats in 2012 batch
JBIMS’s intake for 2012 is 120, while SPJIMR’s is 180.
Entrepreneurship Development Programme Apart from these, SPJIMR also offers courses in Family-Managed Business and on development of the social sector. l
Studying at SPJIMR turns out to be quite a bit costlier than JBIMS. While the former charges around Rs 1 lakh annually, SPJIMR will set you back by Rs 4.35 lakh every year.
JBIMS l MBA Full-Time l Masters in Information Management, Marketing and HR (all part time) l Doctoral Programme SPJIMR l PG Diploma in Management l PG Programme in Family Managed Business
The 118 students of JBIMS saw 86 companies, with an average annual package being Rs 14.9 lakh. This year, the highest annual package was Rs 24 lakh. The institute’s ROI, therefore, is quite high, with the course fees being just over Rs 2 lakh a year. On the other hand, SPJIMR’s 176 students enjoyed as many as 257 offers from 81 companies. The average annual salary was Rs 15.46 lakh; with the course fee around Rs 9 lakh, SPJIMR doesn’t have quite as good an ROI as JBIMS. The highest offer here too was Rs 24 lakh.
Both JBIMS and SPJIMR are in Mumbai, the former near Churchgate in south Mumbai and the latter in Andheri, offering students the advantage of being in the ‘Maximum City’. JBIMS has WiFi capabilities, while SPJIMR is enabling the same on campus. Both have a library and a computer centre. While JBIMS has an auditorium, SPJIMR has an open-air amphitheatre and a training centre.
Top Recruiters JBIMS As much as 36 per cent of the offers were from the BFSI segment, followed by FMCGs and the Pharma sectors at 25 per cent and the Consulting and IT sector at 18 per cent. BFSI: Citibank, HSBC and Standard Chartered offered roles in Consumer and Wholesale banking. Investment Banking roles were offered by Barclays Capital. Among Indian names were ICICI Bank, Nomura, Axis Bank, YES Bank, Indiabulls and L&T Finance, while India Infoline, HDFC Standard Life and SBI Capital offered roles apart from the regular profiles. FMCG & Pharma: FMCG companies such as HUL, P&G, Colgate Palmolive, J&J Consumer, ITC, Hindustan Coca-Cola Beverages, Britannia and Pidilite recruited in large numbers. Among Pharma companies, the major recruiters were Johnson & Johnson Pharma, Abbott, Pfizer and AstraZeneca. Consulting: McKinsey & Co led the pack, with other biggies such as Accenture, KPMG, PWC, Jones Lang LaSalle and TCS following suit. In the IT sector, significant offers were made by Amazon, Google, HCL, Infosys, Wipro and MphasiS. Others: Vodafone, Aircel, Idea and TimesGroup were big names recruiting from the telecom and media sectors, while manufacturing firms and conglomerates included RIL, General Electric, Mahindra & Mahindra, Raymond, Reliance Power, Shree Renuka Sugars Limited, Cummins, Godrej & Boyce , Tata Motors, Tata Steel, Nerolac Paints, Goodyear et al. www.advancedge.com
SPJIMR The FMCG sector was the highest recruiter with 27 per cent of the students being offered roles. The Banking and Consulting lapped up 21 per cent and 19 per cent respectively. General Management: TAS, Mahindra & Mahindra, RIL, RPG Group and Reliance Power made about 18 offers for general management positions. FMCG: HUL, P&G, Kraft, PepsiCo, Nestle, GSK, Johnson & Johnson Consumer and Medical Groups, Asian Paints, Britannia, Marico, HCCB, L’Oreal, Reckitt Benckiser, Nivea, Nokia,Wipro Consumer, etc were some of the big names. Consulting: Several offers were made by firms such as TSMG, Ernst & Young, PRTM, Accenture, CEB, Deloitte, Cognizant, Vector Consulting, Capgemini, Bristlecone among others in the roles that included strategic consulting, operations consulting, financial advisory and IT consulting. BFSI: Roles across functions were offered by JP Morgan, Standard Chartered Bank, Citibank, Deutsche Bank, ICRA, Axis Bank, Yes Bank, Nomura, GE, Edelweiss and Barclays. Others: Microsoft, Google and HCL were among the IT majors to offer roles. Other biggies such as GE, Unilever, NetApp, Directi and HP also made offers. Telecom roles were offered to students by Bharti Airtel and Vodafone. Novartis, 3M, Cummins, Philips, Castrol, Raymonds, Tata Motors and Titan too offered niche roles. Advanc’edge MBA July 2012
Funding MBA Dream An exhaustive list of scholarships - private and government-sponsoredto help you turn your dreams of management education into reality. Aditya Prakash Iengar
NTPC Scholarship Scheme for SC/ST/PH students pursuing full-time MBA/PGDBM course This is being offered by NTPC, a power major in India, with a view to focus on its role of a socially responsible and conscious entity, and find out ways to contribute to aiding SC, ST and PC students. Eligibility - Students who are studying in 2nd year MBA or PGDBM with specialisation in HR or Finance. Amount – Rs 1,500 per month. Number of scholarships – 35 • SC students – 20 • ST students – 10 • Physically challenged students – 5 Last date – Online application to be submitted by midSeptember. OP Jindal Engineering and Management Scholarship These scholarships are awarded by OP Jindal Group. The selection is based on the academic performance. Eligibility - Top 20 students from 1st year batch (based on the entrance score) and Top 20 students from 2nd year batch (based on the performance score in the 1st year). The final selection is done through an online test and a personal interview. Amount - Rs 1.25 lakh. Institutes - FMS, IIM-A, B, C, I, & L, Jindal Global Business School, MDI, SPJIMR, XLRI
Aditya Birla Group Scholarship Covers the academic fees, hostel fees for the duration of course, commencing with the academic session of the first year. Eligibility – Applicant must be a student of IIM (A, B, K or L) and must have featured in the top 20 in terms of the entrance exam ranking at the time of admission. Amount – Rs 1.75 lakh per annum. Number of scholarships – 10 Last date - There is no last date for application as these are given as long as the funds last. Students have to contact their institution to apply for this scholarship. Forms are available only through the institution.
ONGC SC/ST Merit cum Means Scholarships Instituted by the ONGC, scholarships are awarded to the selected SC/ST candidates yearly to the eligible students. Eligibility • The students must be in their first year of master’s degree. • The students must have obtained 60% in graduation or 6.0 on a 10 point grade scale. • Annual income of parents should not be more than Rs 1.5 lakh p.a. (Rs 12,500 per month).
Last date - The selection process starts in August as the fresh batches enroll. The entire selection process is finished by the end of September.
Amount – Rs 18,000 per annum. Number of scholarships - 10 • SC students – 7 • ST students – 3
Bharti Scholarship and Mentorship Programme
Nestle Scholarship for Young Business Managers
For academically bright youth from financially weak families.
Eligibility - Managerial values, co-curricular activities, extra-curricular activities and academic consistency is taken into account when awarding this scholarship.
Eligibility – Merit-cum-means. Amount – Rs 50,000 per annum. Number of scholarships – Currently the programme supports 232 scholars across the country.
Amount – Rs 1 lakh. Number of scholarships – 1
Last date – November 18, 2012
Advanc’edge MBA July 2012
MBA BUZZ Central Sector Scholarship
Guru Harkrishan Educational Society Scholarship
Scheme framed in pursuance of the Union Budget by the Government of India.
GHES primarily focuses on giving financial assistance in the form of scholarships to the needy students especially in the field of vocational/professional education.
Eligibility - SC students whose total family income is up to Rs 2 lakh per annum. Amount – Up to approximately Rs 2.29 lakh. • Full tuition fee and other non-refundable charges (ceiling of Rs 2 lakh per annum per student towards fee in private institutions). • Living expenses of Rs 2,220 per month per student. • Books and stationery @ Rs 3,000 per annum per student. • A latest computer with full accessories limited to Rs 45,000 per student as an one-time assistance. Institutes – IIM (A, B, C, L, I, K), FMS, SIBM, NMIMS, XLRI-Bhubaneshwar, SPJIMR, JBIMS, Bharatiya Vidyapeeth (Pune).
Eligibility • The student should have passed the previous qualifying exam with 60%. • The total income of the student’s family should not exceed Rs 10,000 per month, excluding house rent and medical allowance in case of employees. • The applicant should not be in receipt of scholarship from any other source. Amount – The amount of scholarship is based on the tuition fee. Normally, it amounts to tuition fee plus a minimum of 20% of the fee, subject to a maximum of Rs 600 per month.
Last date – July 15, 2012
Last date – Application form has to be submitted to the Admission Cell of the Malout Institute of Management and Information Technology, Malout for onwards submission to GHES, Chandigarh latest by August 20, 2012.
IndianOil Academic Scholarship
Narotam Sekhsaria Foundation Loan Scholarship:
The company awards educational scholarships to meritorious students across the country with special encouragement to girls and physically challenged.
The foundation awards interest free loan scholarships to Indian students with a consistently good academic record for postgraduate studies at prestigious institutions in India and abroad.
Eligibility • Students of two-year full-time postgraduate management courses recognised by Central/state governments/Association of Indian universities and which are equivalent to MBA. • Family should not exceed Rs 1 lakh. • Candidate cannot be over 30 years of age. Amount – Rs 3,000 per month.
Amount – up to Rs 15 lakh Repayment will commence one year after course completion as per the following schedule: 1st year after course completion: Nil 2nd year after course completion: 30% of the scholarship amount
Number of scholarships – 100
3rd year after course completion: 35% of the scholarship amount
Last date – Online application by 15th September, hard copy submission by mid-October.
4th year after course completion: 35% of the scholarship amount
India Talent Scholarship
Scholarships for SC/ST students
This is sponsored by Societe Generale under its Global Solution Centre Talent Scholarship Programme. It promotes professional education for needy individuals selected for a full-time course in an accredited university and who do not have the financial means to enroll.
Government of India-sponsored financial assistance.
The focus of North Delhi Power of the Tata Group is to reduce the school dropout rate and encourage students hailing from the SC/ ST communities to study further. NDPL aims to create an annual pool of 150 students studying in 26 government schools at pre-board levels. Three such pools have been created since 2007.
Eligibility – Merit-cum-means. Amount – Entire course fees, plus employment offer at SC GSC or Societe Generale India. Number of scholarships – 10 Institutes – IIM (A, B, K, T), ISB Last date – Students have to apply after admission into first year.
Eligibility • All Indian SC/ST nationals whose family income is not more than Rs 2 lakh per annum. • The applicant cannot hold any other scholarship or stipend. Amount – Rs 1,200 per month for hostellers, Rs 550 per month for day scholars. Last date – To apply via institute immediately after admission.
Eligibility: The students’ eligibility is based on a means and needs basis. Amount – Rs 7 lakh per annum. Number of scholarships - 10
Advanc’edge MBA July 2012
MBA BUZZ Sanjeevani Scholarship This is a scholarship programme given out by NGO Sanjeevani. Eligibility - CAT/MAT/MET score + graduation percentage. Amount – Rs 36,000 per annum. Number of scholarships – 10 Last date – Mid-August
T Thomas Scholarship This scholarship is sponsored by Hindustan Unilever Limited as part of the company’s corporate social responsibility. Eligibility - Merit-cum-means as decided by HUL. Amount – Rs 1 lakh. Institutes – IIM-B, IFMR Chennai
For students with good conduct and satisfactory progress in studies. Amount – Rs 2,130 per annum for two years.
Family Income Linked Tuition Fee Waiver Scheme All students entering the postgraduate programmes (PGP and PGP-ABM) whose total family income does not exceed Rs 6 lakh in the last financial year are eligible for the fee waiver scheme. Also, a complete waiver of non-tuition fee is awarded to those students whose total family income in a financial year is below or equal to Rs 1 lakh.
Uday Nayak Scholarship This merit-cum-means scholarship is instituted in the memory of Uday Nayak, a PGP student, and is given to a second year student. Amount – Rs 10,000.
IIMA Special Scholarships (need-based) All students entering the postgraduate programmes (PGP and PGP-ABM) whose gross annual family incomes doesn’t exceed Rs 2 lakh during the last financial year are eligible to apply for scholarships up to full tuition fee.
Cognizant Technology Solutions - B’izard Scholar The B’izard scholarship is awarded to students for whom further study in Management would be particularly appropriate. Amount – Rs 3 lakh for winner, Rs 2 lakh for first runnerup, Rs 1 lakh for second runner-up.
Industry Scholarships (need-based) About 15 scholarships (with the maximum amount limited to about Rs 10,000 per student) may be awarded from funds instituted by various companies. SC/ST Scholarships All SC/ST students in the postgraduate programmes are awarded Rs 150 per month for 10 months.
His Holiness Scholarship
Rajesh Kaushik Memorial Scholarship Merit-cum-means scholarship of Rs 1.5 lakh given per year.
Rotary Foundation Scholarship Given to a second year student every year. Amount – Rs 50,000 IIM-Lucknow
GOI Merit-cum-Means Scholarships The Government of India Merit-cum-Means (MCM) scholarships, given both in the first and second year, are awarded to a maximum of 25% of students (of the nonsponsored student body) each year. The value of each scholarship is Rs 2,200 per annum.
Need-Based IIML Scholarships IIM-Lucknow awards scholarships for up to 15% of the student intake based on merit and family income. Any student, including those belonging to the reserved category, whose total annual family income does not exceed Rs 1,50,000, is eligible for consideration.
IIM-A Alumni Scholarship The IIM-Ahmedabad student alumni have set up a trust to sponsor underprivileged students and take care of their basic expenditure. Eligibility – Merit-cum-means. Amount – Rs 50,000 Number of scholarships – 4 (one reserved for a girl student)
Industry-sponsored Scholarships Several industry sponsored scholarships are awarded at the end of each academic year based on merit. The value of these scholarships presently ranges from Rs 6, 000 to Rs 1 lakh per annum. The benefactors include Reckitt Benchiser, Citibank, EXIM Bank, Hughes Software Systems, Nestle India Ltd., Central Bank of India, Apeejay Trust, et al.
The number of scholarships at IIM-K is approximately as follows: Need-based financial assistance (IIMK) - 92 PGP Merit Scholarship - 13 SC/ST Scholarship – 9 NCERT Scholarship – 1 Ministry of Social Justice – 14
Merit Scholarships Amount – Rs 10,000 at end of second year. Number of scholarships- 5
Advanc’edge MBA July 2012
International Scholarships, France Eiffel Scholarships are available for students going for dual degree programme.
DAAD Scholarship, Germany Besides, students get scholarships/ funding support from Copenhagen Business School, Denmark, European Business School, OestrichWinkel, and Bergische Universitat Wuppertal, Wuppertal, Germany.
MBA BUZZ ISB Hyderabad ISB awards both need and merit based scholarships every year in the form of fee remission, to outstanding candidates. The scholarships vary in amounts and include some full scholarships.
IIM-Calcutta The institute offers industry-sponsored scholarships and also the following:
Amount – Ranging between Rs 5 lakh and Rs 10 lakh.
Amount – Rs 2,000 per month.
Number – 110 deserving candidates. Partnering with corporates • Citigroup - $12,500 to 4-6 students. • Novartis - Rs 4 lakh to 3 students. • Nurture India – Rs 4 lakh to 1 student. • Manhattan Review - Rs 1 lakh to 5 students. • Jamboree India-Talent Promotion Award - Rs 1 lakh to up to 5 students. • ISB@10 Global Scholarship: Ten scholarships will be offered to applicants from ten different international geographic areas, ranging from Rs 3 lakh to 15 lakh, depending on the merit of the application. There are also specific scholarships for North America, Latin America, Western Europe, Eastern Europe, China, South East Asia, Far East Asia, Australia, SAARC countries and Africa. Institute of Rural Management, Anand Merit-based scholarships from Sir Ratan Tata Covers a part of the fees to second year students on a year to year basis. Eligibility – Merit-cum-means. Amount – Up to Rs 50,000. Number of scholarships – 5 10 GOI scholarships to IRMA for SC/ST students Scholarships from the Ministry of Tribal Affairs to IRMA: Sponsored by the Government of India to IRMA for ST candidates. Number – 5
Institute MCM Scholarship: Awarded to needy students on a merit-need basis. Apart from this, the institute also has the following: • Ramachandar Poddar Smarak Nidhi Scholarship • BPL Prize • Hindustan Lever Limited Prize • India Carbon Limited Scholarship • Dr. K. Nath Public Trust Award • T. T. Krishnamachari Award • Dr. B. C. Roy Memorial Gold & Silver Medals • Chairman Prize • John Wynne Prize • Institute Gold Medal ABC Ltd. Award • Balmer Lawrie Award • B. S. Dua Memorial Prize • Calcutta Management Association Prize • Calcutta Port Trust Award • Duncan Industries Award • Exide Industries Award • Dr. K. Nath Public Trust Gold Medal • Magunta Subbarama Reddy Memorial Prize • P. C. Chandra Silver Medals • TIL Ltd. Award • Dr. Amiya Barat Prize In addition, meritorious students studying in the second year may be selected for award of tutorship for various courses and are paid a stipend on successful completion of the same. There is also a Citi Woman Leader Award for meritorious women students.
TISS-Mumbai (for HRM&LR)
Apart from the scholarship a student qualifies for, the institute also offers PG Merit Scholarships (total freeship) to meritorious students. This is provided by Symbiosis Society Foundation.
Eligibility – The overall criteria for consideration of merit-cum-needs scholarships at TISS are: • The average grade point (AGP) should be a minimum of 3.50 at the end of the First Year for senior students and 3.50 at the end of First Semester for Junior students. • The family income should not exceed Rs. 7,500/- per month.
Eligibility • First semester – Only SNAP toppers who’ve joined Symbiosis institutes. • Subsequent semesters – The scholarship will be based on academic excellence, a minimum GPA of 3 earned by the student during the preceding semester. • Only those students will be eligible for the award of Merit Scholarship who have cleared the courses prescribed for the respective programme up to the stage of award i.e. they should not have any backlog. Amount – Waiver of entire academic fee
Ambuja Cement Foundation Scholarships Amount – Rs 15,000 Number of scholarships – 2 Vaishno Mal Malhotra Endowment - K.K. Malhotra Scholarship Amount – Rs 12,000 Number of scholarships – 2 M.K. Tata Trust Scholarship Amount – Rs 90,000 per annum.
Advanc’edge MBA July 2012
The GMAT has included a new section Integrated Reasoning (IR) from June 5. Learn how to tackle it without denting the pace of your preparations. Tony Xavier Head Academics, IMS
he GMAT has changed for the first time in more than a decade. From June 5, 2012 onwards, the GMAT has a new section called Integrated Reasoning (IR). This new 12-question, 30-minute section will not be making the test longer, since the Analytical Writing Assessment section now has only one essay-writing task (Analysis of an Argument) instead of two tasks.
Why the change?
According to the Graduate Management Admission Council (GMAC), which owns and administers the GMAT, “Today’s business word is rich in data. To succeed, you’ll need to analyse information from a variety of sources, and develop strategies and make decisions based on that information. It’s called Integrated Reasoning and it’s something you do every day.” So, the main reason behind the change is that business schools feel the need for the GMAT to test skills as they are applied in today’s business world. So the new section, IR, will have questions that require you to sort tables (similar to MS Excel spreadsheets), something that managers are required to do almost on a daily basis.
What is IR all about? How does this translate into the question types that test-takers will encounter on the IR section?
The IR covers concepts that span the entire breadth of the quantitative and verbal sections, except Grammar. Questions can test anything from Geometry to Critical Reasoning to Reading Comprehension. This is what makes IR unique when compared to Quantitative and Verbal sections, which test concepts in isolation. The IR will have four new question types summarised in the table below. Graphics Interpretation Graphs or graphical images must be interpreted to fill the blanks of answer statements accurately Multi-Source Reasoning Different data from two or three tabbed pages must be used to answer questions
Table Analysis Sortable table, similar to a spreadsheet, has to be analyzed to determine whether statements are accurate Two-Part Analysis Solutions involve two components, and possible answers will be in a table format with a column for each component
Familiarise Yourself with IR Question Types The 13th edition of the GMAT official guide gives test-takers access to 50 IR questions online. Start your IR prep by solving a few questions of each of the four new question types.
Advanc’edge MBA July 2012
Not computer adaptive
The IR section, unlike the Quantitative and Verbal Sections, is not an adaptive section. No skipping, no You can neither skip nor navigate navigation between questions to change your answers. Scoring — no partial Some questions will be made up correct of 2 or 3 statements. In each of these cases you have to correctly answer ALL the statements. Partially correct statement sets will not be scored. 20 days to receive The IR Score, like the AWA score, your IR Score will only be available on the Official Score Report delivered within 20 days. Calculator, exclusively An onscreen calculator, will be for IR available only for the IR section. IR percentiles to be Since the section is just dynamic introduced, your IR Score percentile on your electronic score report may change as more test takers sit for the exam. In 2012, IR percentiles will be updated monthly. 2013 & beyond percentiles will be updated yearly. Practise IR at the end of your prep As mentioned, IR tests both quantitative and verbal reasoning skills. So it is advisable to solve the 50 IR questions at the end of your prep so that you make the most of them. Ideally, the last month of your prep should be devoted to test-taking skills and IR practice. Focus on statistical concepts specific to IR The IR tests statistical concepts like mean, weighted-mean, median and percentile, all of which you need to be very comfortable with. So ensure that you cover these concepts in detail.
Is IR tougher than the other sections?
It is just new, not necessarily tougher than other sections. It is very likely that test-takers might be intimidated by the novelty of the new question types when they first encounter them. Multi-Source Reasoning, for example, with content as lengthy as a Reading Comprehension passage, can seem very time-consuming. Do not panic and just keep in mind that it is just the uniqueness of the question types and response formats that is making you uncomfortable. www.advancedge.com
FM: Facilitating Career Growth Training For FM
Head - HR (IFM), Jones Lang LaSalle India
While the nation still awaits its first comprehensive FM education courses, industry leaders such as Jones Lang LaSalle already provide various training modules in addition to technical skills training. Because of the exacting nature of the Facilities Management vertical, these modules incorporate a number of necessary soft skills apart from technical training. Some of these are: - Time Management - Self-motivation - Relationship building - Credibility enhancement - Workplace conflict resolution - Problem-solving - Managerial competence
ith corporate outsourcing on the rise, career opportunities in Facilities Management (FM) have taken a quantum leap forward. The FM industry in India is a massive employment generation juggernaut, The opportunities riding on the impetus being provided by the rapid entry and expansion include career of multinational IT/ITES giants in Account and the BFSI sector, among many other industries. Surprisingly, the Management, government has not yet made any serious efforts at involvement in this Supply Chain, massive employment-generator.
As a career orientation, the Facilities Management industry is definitely a superior option to some of the default choices that motivated young people often make these days. For instance, it offers far greater stability and superior growth prospects than BPOs. Few other industries extend to graduates the opportunity to directly interact with leading multi-national clients in Engineering, leadership capacities. Dearth Of Talent Operations and It is always gratifying to watch young The available pool of alreadypeople in our Facilities Management absorbed human resources in the Safety, Occupancy teams expand their careers by exploring Indian FM sector currently does not international opportunities in more Planning exceed 25,000. One-sixth of this mature markets where FM is already an talent pool is controlled by Jones established industry. Lang LaSalle India alone. There is While formal training is certainly a huge disparity between demand and supply when it preferable, aspiring FM professionals do not require comes to trained FM professionals in India, and the gap previous exposure to the Facilities Management industry is widening with a shortfall of 5,000 with every passing in order to launch a career in this lucrative vertical. At year. The demand for people to work in the FM sector Jones Lang LaSalle, we have had professionals join us is specific to trained professionals. To a large extent, after equivalent experience in other industries. The career opportunities in the FM sector are the onus lies on institutions to develop and offer variegated, and candidates will invariably find one the right courses in India. Internationally, which is ideally suited for their individual temperament Facilities Management is already a discipline and career objectives. These include: that is taught at universities and institutions. Considering the dire need for properly qualified - Account Management FM operatives in India, the industry is now at - Supply Chain a point where nothing less than the global standard will - Engineering, Operations and Safety - Occupancy Planning serve in the long run.
Advancâ€™edge MBA July 2012
MBA BUZZ Student Interview
“Don’t Write Yourself Off” Abhishek Gupta is a student of IIM, Calcutta. He has studied mechanical engineering at Delhi University and has worked as a business analyst. In an interview with Puja Shah, he shares his reasons for doing an MBA and his experience of the IIM-C admission process. Tell our readers about yourself.
I hail from Old Delhi. I grew up loving cars, and so I studied Mechanical Engineering at Delhi College of Engineering from 2005 to 2009, after which I took up a job as a business analyst with Evalueserve.
What led you to do an MBA, and why did you choose to pursue your MBA from IIM-C?
When I first decided on pursuing MBA, in the second year of my engineering, I was not very sure of how I would benefit from it. But after my summer internship with Maruti Suzuki, I realised how important MBA can be for one’s career growth. This was further re-enforced during my professional stint with Evalueserve, where I worked analysing business issues on a daily level; I realised I would be a lot better off gaining some theoretical knowledge about business. IIM-C was always the dream business school for me. Apart from being a top college, personally, the unique culture was the biggest attraction.
When did you start preparing for your entrance exams? How did IMS help you overcome it?
I started preparing for my entrance exams right after my third year of college. While CAT is basically an aptitude test and doesn’t require long hours of study like the IIT-JEE, it does help to have some amount of structure in the preparation approach. I enrolled for a regular classroom coaching programme on the weekends, which shaped my prep into a proper regimen. Furthermore, the classroom teaching of concepts that are largely forgotten after school helped me eliminate conceptual weaknesses. It also helps to be around people with similar targets.However, once I took up a job, I enrolled only in the test series, which allowed me to practice concepts in a real test-like environment.
Tell us about your selection procedure. What were the most valuable lessons you learnt from that experience?
The selection procedure at IIM-C is a 5-minute essay, which is followed by a 15-minute group discussion on the same topic, after which a round of personal interview takes place. The most important lesson I learnt through my experience was to never go into the process with any preconceived notions, and never to write yourself off even if you believe you’re not doing well.
What were the extra-curricular activities you participated in during your school and college days? Do 28
Advanc’edge MBA July 2012
you think these helped you gain admission at IIM-C?
I have been an avid quizzer and a dramatics enthusiast at both school and undergraduate level and have won a number of competitions. While that might not have had a direct impact since I was not asked direct questions during the process, having experience handling nervous situations and the adaptability I learnt from dramatics certainly helped me during my interview.
How much weightage, according to you, is given to extra-curricular activities and work experience?
It’d be very difficult to put a number to it. For example, in my batch, some with no work experience, average academics and not too many extra-curricular achievements have made it through. However, it does help to have these strengths on one’s side to make a good impression on the interviewers.
An MBA degree is an expensive affair. Did you apply for a scholarship or loan?
While I had saved up a bit from my earnings, I am largely relying on an education loan from the State Bank of India.
How has the experience been so far?
The past one year at IIM-C has been one of the finest in my life. Life on campus is like driving at 200 mph up and down a hill. The campus is abuzz with activity at all hours of the day and night — be it a mix of academic, co-curricular and extra-curricular activities or just sitting by the lakeside with a cup of tea and having a discussion with friends over anything and everything.
What are your long-term aspirations?
In the long run, I see myself starting up a business in the food and hospitality sector. A sound theoretical understanding of business concepts would definitely help me base my decisions on sound logic and help minimise the risks associated with the business. The biggest takeaway from IIM-C for me would be the network of people.
A message you would like to send out to all MBA aspirants? The most important thing if you want to do your MBA is to have a strong sense of self belief, and at the same time, possess an open mind and humility to learn from everyone — be it professors or peers. Also, I would like to advise people to research well on their reasons for doing their MBA. www.advancedge.com
KNOW YOUR FACULTY
Munish Thakur, XLRI problem can be taken care of or managed, but a good solution will occur only when one is able to dwell on the issue and see the flowchart to find long term solutions. It’s not easy, but it’s definitely worth the effort.
What interests you other than teaching?
Strategic Management Joined XLRI in 2006
What prompted you to get into teaching? When did you move to the domain?
As a child, my first aspiration was to become a truck driver. As I grew up, aspirations shifted and I had similar aspirations like other kids: Wanting to be an actor on Monday, an engineer on Wednesday and perhaps a writer by Sunday. As I grew up further, I saw that I was attracted towards exploring and developing new ideas and giving interesting explanations and logic to common occurrences around. People said that explaining things and providing others with logic came naturally to me, and I too felt a deep sense of satisfaction within. Being a teacher still did not occur till late in life; it was during my post-graduation that I felt like exploring a career in research/teaching.
What’s the most rewarding aspect of teaching?
Quite a few in fact. The first and the foremost is that I am not tied to a rope of hierarchy, my knowledge will lead me to success. Another important aspect is that I get the opportunity to discuss my own theories in class, some of which are still untested. It’s a pleasure when students are able to appreciate these theories, and benefit from them when they apply them in real life, at times. It’s also a great feeling when students come back and tell me that the concepts taught in class were helpful on the job or in everyday life. The most satisfying part, though, is when hitting the bed after a long day, a teacher is a happy soul, as he /she has spent most of the day trying to benefit others.
As a teacher, you must have had your share of ribtickling experiences. Please share an anecdote that never fails to amuse you.
Well, this happened at my first lecture for first year students. The new session had begun, and as I entered the class, a guy coolly pointed to a vacant seat near him. I smiled and said, “I’m comfortable being on this side of the table!”
What kind of values would you like to instill in your students? The solution to any problem lies in sincere effort and perseverance. In today’s fast paced life, everyone is looking for quick solutions. But situations are not products of hasty actions, instead, they occur because of a multitude of actions and reactions. Every www.advancedge.com
I like sports (both playing and watching). In fact, if you look at it carefully, any game has all the logical actions and is never free willed. A player will take a particular action to fit into the flow of actions. So yes, sports is a favorite. I also like reading, finding solutions to existing problems and exploring nature.
What, according to you, does it take to be a good teacher? Is teaching a profession or a calling?
I think teaching is both a calling as well as a profession. Having said that, teaching is always taken as a profession to fall back upon if nothing else works. But that’s the biggest problem — a person should get into teaching if he loves getting to the core of things, teaching students what he believes in and motivating them to uphold good values and beliefs. A good teacher is not easy to define because it is not a concept, it is an experience. It is also very difficult to detail a process that makes a good teacher. To that extent, I think teaching is a calling. But a teacher has to approach a subject in a neutral fashion and break it into fractions, make the students understand every part of the problem, prepare them for the job that they are looking for. In this respect, a teacher cannot always do what he likes, and hence, he needs to learn and adapt to the changing requirements of the industry. This makes teaching a profession. Regarding it as a calling would make you only an inspirational teacher, but you might not make students industry-ready. On the other hand, if you are only professional, you can’t produce students who can become change agents and architects of the future. So, a good teacher needs to combine elements of calling and profession together.
Please shed some light on your research. Areas of my research work so far have been: a. Strategic balance b. Competitive strategies c. Merger and acquisitions d. Innovations (social and bottom of pyramid) e. Entrepreneurial success f. Strategic thinking
You are associated with different organisations, including startups. How do you assist them?
Organisations as we expect them to be and organisations in reality can be very different. They have to be related. As a consultant and practitioner, I act as a bridge between concepts and facts. I assist the startups in setting a direction for their growth, help them understand their competitive advantage, aid them in unravelling the market situations and reactions /responses to those situations, and help them understand the customer. There are many entrepreneurs and managers who simply come up to me and discuss their problems with me. Advanc’edge MBA July 2012
Advancâ€™edge MBA July 2012
Advancâ€™edge MBA July 2012
hoever controls the media controls the mind,” said Jim Morrison. This statement rings true when we realise how much our lives revolve around one or another kind of media. We depend upon the media for news, entertainment and communication and no matter how much we protest to the contrary, most of our opinions are inﬂuenced by the media. Just a decade ago, the media industry was a part of the unorganised sector in India. But today, it is an industry which is expected to grow at 12.5% per annum over the next few years. A report released by KPMG and FICCI states that the media industry in India is projected to touch US$ 20.09 billion by 2013. Thus, the industry has become a very popular choice for aspiring mangers to consider. The importance of media cannot be denied. Every product needs branding or marketing and every story needs to be told. Any product which is effectively marketed in the media results in the success of the enterprise. Hence, knowledge and updates about this industry is a priority for any company. An MBA in Media
Advanc’edge MBA July 2012
Management provides you with a platform to understand the ever-growing media industry. It also teaches you the business of media. A student learns about media economics, generating revenue, getting ﬁnancers, marketing products, branding, strategising and budgeting. It offers a unique opportunity of being creative as well as business-minded. In addition, the programme aims at producing skilled business managers capable of working with not only online technologies but also conventional media to promote products/ services.
Why Media Management?
Media essentially invoves journalism, audio-visuals, advertising and public relations. The media can be print, broadcast, online and radio. Managing any of these requires speciﬁc knowledge about its operations. Anvesha Sharma, Assistant Professor, Marketing and Advertising, Amity School of Communication, opines, “The focus of industry is shifting from general to specialised. There is a demand for the right employees for the right job proﬁle. When one holds the right degree of
management relevant to a special sector, the prospects for growth go up for the employee as well as the organisation.” When asked why a student should study Communications Management instead of a general MBA, Professor Nagesh Rao, Director of MICA, says, “Although communications management is generally considered ‘niche’, we must recognise that communications are actually at the heart of all business! The students not only study subjects such as micro and macro economics, ﬁnance, supply chain management, accounting, organisational behaviour, etc, but also culture and communications, audience research and strategic media planning, Indian cinema and ﬁlm appreciation, etc. The difference from a traditional MBA course would be in terms of the nature and emphasis of these courses.”
After MBA in Media Management, numerous options are available in various industries. Professor Sharma says, “Career growth, although a function of economic growth, is determined by the importance of a sector in building a nation. Media www.advancedge.com
The media industry is set to grow at 12.5% in the next few years, making it a profitable option for aspiring managers.
The Business Of Communication
CAREER WATCH has always been an industry which is of paramount importance. Media has outgrown its traditional image, therefore, the reach is higher, presence is wider and career prospects are brighter.” Some of these options are: Television – The reach of the television industry in India is vast, contributing to the largest share in the media and entertainment industry. There are numerous channels that range from general entertainment to news to regional, etc. As an MBA in media management you can join television channels or production houses as a channel head, programming head, sales and marketing analyst, media planner or you can also join them in a financial or a creative capacity. You can join channels such as Star Tv, Colors, Zee Network, Discovery, CNN IBN, NDTV, etc. Television production houses such as Big Synergy, Endemol India, Miditech, etc also look to hire media managers. Film – The Indian film industry is the largest in the world if you take into account the number of films produced each year. It is predicted to grow at 9.1% in the coming year. This means that there would be many more opportunities for jobs as managers, production heads, marketing and sales head, finance analysts, PR managers, etc. You can even consider jobs in multiplexes such as PVR and Adlabs. Celebrity and event management companies such as Wizcraft are perpetually on the lookout for managers. Film production houses such as Yashraj Films, UTV Motion Pictures, etc can be approached too. Print – The print and publishing media is likely to see an interesting rate of growth in the near future. The country’s growing literacy and new technologies have resulted in India emerging as the second largest newspaper market in the world, according to the latest research by the World Association of Newspapers (WAN). In this industry, graduates in media management can consider jobs as business development manager, publishing head, sales and marketing head, circulation or subscription head, etc in publishing houses such as the Times Group, Indian Express, Midday, Penguin books, Harper Collins. Online/ Digital - Digital distribution platforms such as direct-to-home (DTH) and Mobile TV are transforming the www.advancedge.com
Founder and Brand Design Consultant Honeybee Design
udra Institute of Communications (MICA) is a pioneer in imparting education and training for professionals aspiring to make a mark in branding, media and communications industry. I graduated from MICA in 2005 and our batch was the first of design managers in the country. Amongst all the things that I learnt, the most important was how to achieve success in the business of branding and design. We learnt how brands are built beyond advertising and more importantly without advertising. Advertising is not possible for every brand, especially when it happens to belong to SMEs or local/regional players. We were taught how design can be applied to any business problem to find a long term strategic solution. In this process we discovered how our country is art rich but design poor. Therefore, we became Design Marshals entrusted with the responsibility to spread awareness about communication/design management. Our programme was developed around practical learning rather than theoretical. The industry-based learning, exchange programmes, lectures on global trends and practices and talks on the changing scenario of design application has helped me to become a success in my chosen career. MICA instilled all the skills and qualities I needed to branch out and to start my own graphic design firm. industry. Mobile TV is poised to grow big with the advent of 3G and 4G, according to the experts. The gaming and animation industry is also growing very popular and quite a bit of animation in the world cinema is done in India. Advertising on popular websites has also scaled up. One can find opportunities as social media managers with many online enterprises. Jobs at managerial and business level in this industry are a good option. You can approach animation studios such as Pixel Studios, Crest Communications or
The focus is to teach business of media and to equip students with industry tools used in media research, planning, buying and selling Chandan Chatterjee Director, SIMC
digital TV makers such as Airtel, Tatasky, Reliance, etc. Radio –You can consider jobs in organisational management, operations, finance and marketing at radio stations such as Big FM, Radio Mirchi, Red FM, All India Radio, etc. Advertising and Public Relations Advertising and PR trends showed a healthy growth in the last decade as marketers sought to woo customers for a wide range of products. You can work as an account director, media planner, brand manager, head of corporate communications etc. You can work at firms such as Adfactors, Percept, Hanmers, O&M, Lintas, Group M, etc. You can also join companies that have their own corporate communication departments such as TATA, ITC, etc. Social Media – Social media managers are in high demand nowadays. Every company wants to have an account on a social networking website which will in turn boost the awareness and sales. The social media manager implements the company’s social media strategy; Advanc’edge MBA July 2012
CAREER WATCH developing brand awareness, generating inbound traffic and encouraging product adoption. This role coordinates with the internal marketing and PR teams to support their respective missions, ensuring consistency in voice and cultivating a social media referral network. You can either work in a PR firm which also provides social media managing as one of its services or any big brand that has its own social media manager. An MBA can also be a consultant to firms for formulating strategic agreements, restructuring, cost reducing and facilitating partnerships for media and entertainment firms.
Initial pay scale for media managers ranges from Rs.40,000 to Rs.50,000 per month while professionals with prior work experience can expect a higher salary. Salaries vary widely depending on the factors such as the particular industry, company and designation. Salaries also largely depend upon the institute you have graduated from. “The average salary at our institute last year was Rs 8.5 lakhs and the highest was around Rs 20 lakhs” states Prof. Rao.
Social Media Consultant Jack In The Box Worldwide
ocial media management is marketing that comes together with communication and technology. If someone asks me, “What I do”, the best answer I can come up with is “I get paid to be on Facebook, Twitter, YouTube, Pinterest, blogs.” All of these are a part of my daily routine. It is a techie’s paradise so to say, but you do not need to be a geek to survive. What you do need is good communication skills and great analytical abilities. Analysing insights and understanding customer behaviour are the two most important attributes a social media manager must have. Social media agencies are smaller set-ups, where a manager is also responsible for creating content and responding to questions/comments posted on websites’ company pages on social networking sites. The most important thing to remember is that you represent the brand and communicating with people has to be done from the perspective of the brand and not yours. Your goal is to engage customers so they can recall your brand when needed. In some cases, you work closely with the customer service team (telecom, airline, FMCG brands). One offensive comment or a rude response to a customer can lead to negative publicity. The best part about social media management is that it gives me an opportunity to connect with my customers without having to go through any medium such as newspapers or the television. It is quick and immediate too, for instance if my brand wanted an opinion on any of our new products, we could post a query on our Facebook page and get instant responses from people. Any marketing, PR professional or an MBA graduate with a penchant for creative industry will find the job interesting.
Popular B-Schools offering MBA in Media Management
MBA in Communications Management
Overview: Media management is a brand new addition to the MBA specialisations at SIMC. With emphasis on future innovations, market planning and analysis, this programme equips you to understand the escalating media industry. A student studies media planning-buying and selling, audience measurement, economic and business analysis of media, etc. Eligibility Criteria: Graduates in any discipline from a recognised University with 50% (45% for SC/ST) are eligible. Applicants expecting their final year results may apply. Their admission will be provisional and subject to furnishing proof of graduation with 50% by beginning of the second semester. Selection Procedure: Candidates will have to appear for the SNAP test after which the shortlisted candidates will be called for group exercises and a personal interview at SIMC campus.
Advanc’edge MBA July 2012
Fee: The fee for this course is Rs 4,55,000
CAREER WATCH Post Graduate Diploma Communications
Mudra Institute of Communication
Overview: MICA is considered to be the best in the country for its ﬂagship programme – Post Graduate Diploma in Management - Communications. It teaches lateral thinking and consumer insight managing to steer brands and organisations. “Most business school curricula focus primarily on the intelligence quotient and sharpening only the left side of the brain. However, the global leaders have an equally strong emotional and cultural quotient. MICA’s curriculum creates such students – those who focus on multiple bottom-lines – with equal emphasis on financial, human and environmental implications,” says Professor Rao. MICA offers students concentrations in brand management, account planning and management, marketing research, media management and the emerging disciplines of public relations, broadcasting, design and retail communications. MICA has maintained a 100% placement record with an average CTC of Rs 8.5 lakh p.a. Fee: The fee for this course is Rs. 4,50,000. Eligibilty Criteria: Admission to the PGDM (C) programme requires a Bachelor’s degree with minimum 50% marks or an equivalent qualification in any discipline recognised by the Association of Indian Universities (AIU).
AMITY School of Communication
Selection Procedure: Candidates need to apply through the CAT or the GMAT score. All candidates who apply to MICA through CAT/GMAT score will be called for MICAT, subject to their application form being accepted by MICA. After shortlisting from the MICAT, the selected candidates will need to appear for group exercise and personal interview at the MICA campus.
MBA in Media Management Overview: The MBA in Media Management is a 2 year full-time course at the Amity School of Communication. The course structure in this programme includes subjects such as Media Business, Marketing Management, Business Communication, Human Resources and Organisational Behaviour, Media Laws among others. This course also includes a summer internship of about 8 to 10 weeks. According to Prof. Sharma, “The primary focus of our MBA Media Management programme is to train students in the management of media organisations at various levels of organisational hierarchy. It aims at providing knowledge of the management subjects and allows students to specialise in their chosen streams of media management.”
Fee: Rs. 1,33,500 per annum.
Eligibility Criteria: Candidates should have minimum 50% marks in any discipline from a recognised university and should have appeared for the CAT/MAT/GMAT. If a student has not appeared for these tests or their score is less than the required cut off accepted by Amity, they can appear for the Amity Written Test. Selection Procedure: Shortlisted candidates are screened by GD and/or Interview on the day of selection process. Advanc’edge MBA July 2012
CAREER WATCH MBA in Media Management
Whistling Woods International
Overview: The MBA in Media Management at Whistling Woods is a full-time MBA course. Their most unique feature is two-three month long internship in media and communication industry, NGOs, or corporate social responsibility wings of corporate. Also, they have to complete eight live projects with clients which involve published features, events, films, web-design, ad-campaign, market survey, documentary production etc. Their programme is completely hands-on, practical work, with more than 50% of the evaluation being from projects, assignments, internships, etc, and the rest from the written examinations at the end of the semesters. Fee: The total fee for the course is Rs. 6,52,300
Selection Procedure: Any candidate who clears the admission interview and the on-spot assignment given by the WWI Admission team across India or on WWI campus shall be offered admission to this course.
Eligibility Criteria: Any graduate with 50% and above from any college/university of India.
Welingkar Institute of Management Development and Research
Post Graduate Programme in Media and Entertainment Overview: Welingkar offers an eleven-month full-time Post Graduate Programme in Media and Entertainment. The students get an equal chance to put the learning into practice during the twomonth internship and also through the live industry projects which form an integral part of the nine-month classroom training. Students will learn the fundamentals of marketing management, fundamentals of all form of media vehicles on air (radio, television, digital film), ofďŹ‚ine (print media), ground (events and experiential marketing), PR and introduction to arts and entertainment. They also learn about youth-targeted marketing, brand integration, media laws, media planning and buying. Fee: The fee for this course is Rs. 1.5 lakh excluding taxes. Eligibility Criteria: Graduates from any stream from a recognised university can apply. Selection Procedure: All eligible students applying to the institute will be called for a selection process. The selection process will comprise group discussion and personal interview.
Advancâ€™edge MBA July 2012
CAREER WATCH International B-Schools
The Media Program at Columbia Business school
changing technologies, cost structures, regulations, and consumer tastes and expectations. Eligibility Criteria Candidates should have a minimum of 16 years of education with a GMAT score of 700 and above. They should also have first class bachelors degree from a recognised university. Selection Procedure The admission process involves shortlisting students on the basis of GMAT and their application essays, after which the selected candidates would be called in for an interview.
Overview Columbia is arguably the best media school in the world today. They offer an MBA for media called “The Media Program.” The aim of the Media Program is to provide students with the capability to apply practical and theoretical knowledge across key business disciplines to relevant issues in the fast-changing media industry and to create a stronger link between students, academics, alumni and media industry executives. Leading media executives regularly visit the school to share insights into such challenges as
NYU, Stern School of Business Entertainment, Media and Technology – MBA specialisation Overview The Entertainment, Media & Technology (EMT) programme enables MBA students to understand and manage the entire spectrum of the entertainment and media business, from its impact on the economy and the digital revolution to the global opportunities that technology creates. It is a specialisation of the general MBA programme offered at NYU. With a focus on both the business and content aspects of the industry, the programme offers students a range of subjects with practical and real-life application. Courses deal with the marketing, finance, management, accounting, legal, and economic issues
facing entertainment and media firms. Industries covered include, film, home video, television, cable, music, sports, and publishing. Eligibility Criteria Candidates should have a minimum of 16 years of education with a GMAT score of 700 and above. They should also have a first class bachelors degree from a recognised university. Selection Procedure The admission process involves shortlisting student on the basis of GMAT and their application essays, after which the selected candidates would be called in for an interview.
Advanc’edge MBA July 2012
Siestas, Bullﬁghts, Business - Spain Besides being a leader in fashion, banking and football, Spain also has three top-ranked business schools, making it a favoured MBA destination.
t’s a land famous for siestas, fiestas, bull fighting and sangrias. Spain, traditionally a tourist and retirement destination, was more or less viewed as a country with a laidback attitude towards business, but all of this has changed in the last two-three decades. Today, Spain is a major financial hub of Europe. Two of its cities – Madrid and Barcelona - are global financial and cultural centres with many multinationals’ head offices. Major Spanish companies such as Telefonica and Santander have become global players, acquiring significant positions outside their traditional markets of Spain and Latin America. Besides having history, culture and beautiful locales, Spain has earned a high reputation for business education. During the last couple of decades, Advanc’edge MBA July 2012
Spanish education has become another export of the country. Spain has three top-ranked MBA institutions, which are located in Madrid and Barcelona. These institutions – ESADE, IE Business School and IESE feature in the top 35 of the Financial Times Global MBA rankings (IE # 8, IESE # 9, ESADE # 33). All the three also rank in the top five in European rankings. This is a huge achievement for the country, especially when you compare it to other European giants such as Germany. Students across the globe come to Spain and this diversity makes it an ideal place to study an MBA. You can expand your professional network on an international scale by making new friends and contacts from different parts of the world.
MBA in Spain
Generally, if you ask students where they would like to go for MBA they promptly say US. Many Indian students are not aware of Spain’s reputation as a business education centre. They know about the brands Zara and Mango, banks such as Santander, and Spanish football clubs Barcelona and Real Madrid, but they usually skip that Spain is a leader in business education too. Spain has a fascinating environment of creative business and is an example of innovation, internationalisation and adaption of change. Julia Sanchez, Executive Director, IE Business School, mentions, “For many aspiring MBA students, Spain represents an attractive location for numerous reasons: language, culture, and quality of life. It provides www.advancedge.com
students with an excellent opportunity to learn or perfect their Spanish language skills, an invaluable asset given the business opportunities in Spanish speaking countries such as Mexico, Chile, Peru, etc. In addition, as one of our students noted most recently, in a blog entry he wrote for the The Independent, students can leverage their international backgrounds, professional know-how and MBA knowledge to identify opportunities with local and/or multinational companies that wish to explore markets outside of Spain.” The business schools in Spain comprise 80% international students. Their faculty is as international as their students, with professors from almost 50 different nationalities.
Headlines around the world have been largely focused on the current Eurozone crisis. The Spanish economy is in trouble but that’s not to say that it would be a mistake to study an MBA in Spain. In fact, most Spanish B-schools haven’t seen a major drop in number of applications from international students. “We have had some candidates expressing doubts about Spanish economy and its development but so far we haven’t seen a significant impact in admissions. ESADE is a global business school; we are based in Barcelona and of course we cannot alienate ourselves from the Spanish reality but the quality of teaching, global approach, international career opportunities are a part of our MBA, regardless of the economic environment. For the past few years, a vast majority of our students have been placed abroad, recruiters coming to Spanish business schools are interested in international profiles,” says Gloria Batllori
Lloveras, Executive Director of MBA Programmes Unit, ESADE Business School. The QS global 200 business school report for the last three years shows that ESADE’s class size has remained the same (180) from 2010 to 2012. In many instances, studying in a troubled economy can be a benefit to MBA students. When a country is going through an economic crisis, then both companies and individuals tend to work harder to promote economic recovery. MBA students would benefit from this since they learn skills that would stand out in any job market. Working in tough economic conditions can teach you to think innovatively. The strategic, analytical and problem solving skills come out to the forefront and that is what most companies want in a manager. “In today’s global environment, not only in Spain, professionals must strive to harness determination, resilience and an entrepreneurial spirit to deal with the uncertainty that they will inevitably face in day to day business across all sectors and industries,” opines Sanchez. Further, having witnessed both, current economic events and the recent past, fresh MBA graduates can learn from where others have failed. This is mainly what Spanish business schools are focusing on. Examples of problems
In today’s environment, professionals must strive to harness determination, resilience and an entrepreneurial spirit to deal with uncertainty across all sectors
Executive Director, IE Business School that people face during a crisis are discussed in classrooms, which help students to analyse and think. Many are of the opinion that the key to economic recovery lies in entrepreneurship and innovation, and Spain’s business schools excel in providing their students with these qualities.
Benefits of studying MBA in Spain Cost What makes Spain one of the favoured MBA destinations is that it is relatively inexpensive to live and study in and is well connected to all of Europe and the rest of the world. For a university student, the comparative advantage of studying in Spain is considerable in financial terms. The average cost of tuition fees charged by universities in the United States for an MBA (70,000 dollars) would cover the entire cost of living and tuition fee in Spain for a year (a university residence in Madrid, including accommodation and meals, costs less than 800 euros per month, and average tuition fee for an MBA in a private university is around 30,000 euros). In terms of standard of living, Spain is one of the cheapest European countries. Also the Spanish MBA, like most European MBAs, is a one-year course. Therefore, you save an entire year’s expenditure.
Language The Castillian Spanish language is spoken worldwide by more than 400 million people. It is described as many as the world’s second business language and would be an asset to any aspiring manager wanting to forge an international career. The opportunity to learn Spanish is a great benefit of studying in Spain as its MBA programmes include Spanish www.advancedge.com
Advanc’edge MBA July 2012
International and Diverse If you look at any classroom in a Spanish B-school you will find almost 80-90% international students. No European B-school will have an MBA in International business because a European MBA is essentially an international MBA where global business ethics are learned. Gloria Batllori Lloveras reiterates, “European MBAs and Spanish MBAs in particular have always distinguished themselves for being the most international and diverse MBAs around the globe. This is a distinctive value proposition that candidates look for when applying for an MBA to pursue an international career, either in their home countries or elsewhere. Recruiters interested in MBAs value the global outlook of candidates.” In the context of a global economy, learning from and working with such a diverse group of people is an invaluable experience. It is often said that you learn as much, if not more, from your fellow students than you do from your professors in an MBA programme. Internships Since prominent Spanish business leaders founded their B-schools, practical experience is given as much importance as theoretical. Hence, internships are an integral part of the course structure. Students can take up internships during the last two elective terms of an MBA programme, instead of taking classes for their specialisation. However, students need to be active in finding placements. Top ranked B-schools Spain currently boasts of three of the five highest-ranked business schools in Europe. The Spanish business schools can be distinguished as having a highly diversified and globalised approach towards faculty, students and curriculums. Not only do they have students from all over the world but also an international faculty. It is not surprising that graduates are much sought-after by international employers. One-year MBA Like most European MBAs, MBA programmes in Spain are shorter (11-
Advanc’edge MBA July 2012
15 months on an average) in duration compared to the standard two-year MBA courses in the US. Since it is only a oneyear course the student saves up to a year and can start working one year earlier. The total tuition and living expenses in a shorter programme are considerably lower compared to a two-year full-time MBA program.
schools ask for a GMAT score and admission essays with the application. Their term starts in September, therefore, it is advisable to apply by December or January. All prospective students must go through the interview process so that the admissions committee can gauge a candidate’s proficiency in English.
Encourages innovation and entrepreneurship Innovation and entrepreneurship are very important to Spain as they have built their economy upon these attributes. Spain believes that entrepreneurship is an engine for economic growth, employment and social well-being. All MBA students in Spain are taught to use innovative solutions to business problems and possess skills to launch their own business ventures. “Each student at IE must complete a business plan as part of their core requirement and gain an understanding of how to conceive/ create an action plan to launch a business. This practical exercise helps students to think like entrepreneurs and push the boundaries of their own expectations,” mentions Sanchez.
If you wish to study in Spain, you will need to apply for a student visa. A study visa for Spain can be obtained once you have been accepted for the course and have paid fees required by the institution. The fee for long-term visa is INR 4143, payable by bank draft.
The admission procedure for Spain is similar to the US. Spanish business
Documents required for Student Visa The following documents are essential for a complete visa application. 1. Passport of the applicant and a photocopy of the bank draft. 2. Original application form filled and signed by the applicant and a recent photograph. 3. Original admission letter from educational centre. 4. Photocopy of previous academic qualifications with proof of economic means to undertake studies in Spain 5. Proof of accommodation.
Top 5 B-School profiles
EADA Business School The Financial Times and the Economist rank EADA among the top 4 business schools in Spain. EADA was one of the first Spanish institutions to run manager training programmes for the business community. At EADA, participants enhance their managerial skills, adding a competitive edge to their professional career and to the companies they work for. The school promotes close collaboration with its 350 associated companies, which work towards continuous improvement in business practices worldwide. Average GMAT Score: 600 % Female Students: 39 % International Student Ratio: 94 Fees: 30,500 € Average Salary: 91,000 USD Average Years Work Experience: 5 Accreditations: AMBA, EQUIS Start Dates: September Programme Duration: 11 months www.eada.edu/en/programmes/mbas
modules and you can definitely speak the language proficiently by the time you graduate.
REGION FOCUS IE Business School At IE, students are given a chance to customise their MBA based on interests, needs, and goals. The International MBA at IE offers exchange programmes, Spanish classes, venture lab programme (for entrepreneurial projects), dual degree programme (with Tufts and MIT), Wharton Global Consulting Forum, and the UK-based interstate programme. Average GMAT Score: 670 % Female Students: 33 % International Students Ratio: 89 Fees: 59,200 € Average Salary: 82,000 USD Average Years Work Experience: 5 Accreditations: AACSB, AMBA, EQUIS Start Dates: April, November Programme Duration: 13 months
IESE Business School, University of Navarra
It was IESE that first established a bilingual MBA in the world and a two-year MBA in Europe. IESE students are eligible to obtain a diploma in business Spanish at the end of the programme. Moreover, at IESE, case studies occupy a prominent share in the programme structure/teaching methods.
Average GMAT Score: 672 % Female Students: 29 % International Student Ratio: 80 Fees: 39,000 € Average Salary: 1,11,000 USD Average Years Work Experience: 4 Accreditations: AACSB, AMBA, EQUIS Start Dates: September Programme Duration: 19 months h t t p : / / w w w. i e s e . e d u / e n / P r o g r a m s / programs/index.asp Advanc’edge MBA July 2012
Although all students at ESADE start their MBA at same time, they are allowed to modify the duration of the course according to the requirements and goals. Initiatives such as the LEAD (Leadership Assessment and Development) programme, career services, and exchange programmes ensure that they continuously reﬁne their leadership skills, proactively manage their careers etc. In addition, ESADE Creapolis (a business park based on Open and Cross Innovation) allows start-up companies (up to 50) to gain from ESADE community’s vast experience and knowledge in entrepreneurship. Gloria Batllori Lloveras has this to say about ESADE, “The ESADE MBA is different from other top business schools in our leadership proposal. We believe collaborative leadership is needed to face the new challenges corporations are facing nowadays and in the future, as well as establishing strong global networks to be successful in complex organisations. Our curriculum is designed to achieve this leadership approach by stressing group work throughout the MBA. Another difference is our programme ﬂexibility. Students can choose the length of their stay during the programme. There are three options: 12, 15 and 18 months. Students can personalise the programme to their needs, the only requirement is to comply with academic credits. Extending the length allows our students to go on exchange, do an internship in summer or other non-academic student-run activities.” Average GMAT Score: 660 % Female Students: 31 % International Student Ratio: 84 Fees: 57,000 € Average Salary: 89,000 USD Average Years Work Experience: 5 Accreditations: AACSB, AMBA, EQUIS Start Dates: August Programme Duration: 18 months http://mba.esade.edu
ESADE Business School
Universidad Carlos III de Madrid
Average GMAT Score: 500 % Female Students: 45 % International Student Ratio: 95 Fees: 12,000 € Average Salary: 45,000 USD Average Years Work Experience: 4 Accreditations: AMBA Start Dates: September Programme Duration: 12 months www.uc3m.edu/mba
*Institutes not in order of ranking
Advanc’edge MBA July 2012
The MBA programme was launched in 1997 and continues to give students a solid business education. The focus is on effective communication, real-world problems and business planning. The school believes the cultural diversity of MBA participants prepares them for the increasingly globalised business world. Its biggest advantage over other Spanish B-schools is that its tuition fee is much lower. Hence, it has a high percentage of international students.
Advanc’edge MBA July 2012
Advanc’edge MBA July 2012
Are you being micromanaged?
Know more about the positives and negatives of micromanagement at the workplace, and how one can take measures to deal with it.
icromanagement refers to minute, close observation and control of a subordinate’s work by a manager. Naturally, this has both its positives and negatives. On the one hand, constant scrutiny and checking of every small detail of the employee’s work can be quite taxing for the employee. But on the other, micromanaging does result in substantial risk mitigation, and is often an attempt — with varying degrees of success — of the manager to achieve optimal performance from the employee. Nand Kishore Karnik worked as a fundraiser for ﬁve years with a non-proﬁt ogranisation headquartered in Australia when Tara Patel came on as his boss. Nand Kishore was considered the ofﬁce expert when it came to fundraising and his colleagues regularly turned to him for advice. But things went somewhat downhill when Tara took over, as he hadn’t expected her to be such a micromanager. “She wanted to see everything I produced and approve it before I moved on to the next task, right down to generic e-mail responses I sent out!” he says.
Usually, no one likes to have a boss who excessively scrutinises your work and constantly checks up on you. In some cases, this micromanaging behaviour can be highly annoying and might stunt your professional growth. But you have to know how to handle it and not suffer. Micromanagers abound in today’s organisations, but typically, it has nothing to do with your performance. A recent workplace survey revealed that four out of ﬁve people — both managers and workers alike — experience being micromanaged, and one out of three people have changed jobs because of this practice. “It is more about your boss’s level of internal anxiety and need to control situations,” says Dhiraj Nayyar, a programme developer with ICT Technologies, who also researches and consults on organisational culture. However, ﬁghting back against the micromanager is a bad idea. “If you rebel, you will just get more of it,” say the authors of the book “Set-Up-ToFail Syndrome – How Good Managers Cause Great People to Fail. The trick is not to try and change the way your boss leads, but to change the way you tread.
However, micromanagement isn’t always bad, as sometimes we need to micromanage for the beneﬁt of not only the system but also the people themselves. In a start-up organisation, we might need to work day and night just to satisfy the customers and help cash ﬂow, but as the organisation matures, it is critical to set some ground rules that serve as a basis of operation — a Standard Operation Procedure. But these ground rules and procedures require a lot of reiteration and initial hand-holding. A new process also needs a lot of feedback to enhance it and to make it scalable. And this may not happen fruitfully if we don’t micromanage the process and people. Periodically, many organisations put their employees through a performance review if their performance does not meet the expected level of competency. For this, the performance of an employee needs to be backed by authentic data, which isn’t possible unless we micromanage to some extent. Bottom line — we should not be seen as tough task managers without humane considerations or as weak managers who let bad performance pass. Advanc’edge MBA July 2012
SUCCESS STREET In fact, even potential high performers who are being groomed for the next level of responsibilities can beneﬁt from a bit of micromanaging. When people move from an individual contributor’s role to a leadership role, it is very important that they are hand-held initially. One of the primary reasons for failure in this period is expecting the team to do the same things they did before, thinking that is exactly what is required — given we have actually been promoted doing it — and benchmarking the team performance against our own as individual contributors. Guiding these people will only help them in the long run. In these types of cases, it is more about giving tips, providing training tools, ﬁxing accountability, etc. Here are some ways to deal with micromanagement:
Evaluate the behaviour
All controlling bosses aren’t cut from the same cloth, cautions Rajiv Hiramani, a manager at APC. At one end of the spectrum, there are managers with very high standards who like some degree of control. They may regularly send you back to rework something that doesn’t measure up. In fact, Steve Jobs was an example of that kind of a boss. Such people pay a great attention to detail and exercise some degree of control, but they don’t stiﬂe their subordinates. In fact, one may be able to learn a great deal from them. At the other extreme are people who need to make it clear to themselves and others that they are in charge. These are the bosses who give you little or no autonomy, insist they be involved in every detail of your work, and are more concerned about smaller speciﬁcs instead of the big picture. “You know you are working with a micromanager if he or she gets involved in details far below his or her pay scale,” says Meghana Nigam, a senior associate with Wipro BPO.
advisable.” Instead, try to understand what is causing your boss’s behavior. Is he under immense pressure? Is this his/her intuitive way of managing? Does the company culture encourage and reward this kind of a behavior? By recognising the underlying reasons, you can ﬁgure out how to respond.
Increase the trust
According to Saby Menezes, senior manager, ADMAN Media & Creations, “Micromanagement is usually based on a general view that the world’s standards are not up to what they should.” Given the fact that a manager often micromanages to try and improve performance, it would help if you make a conscious and honest effort to earn your manager’s trust by succeeding in the dimensions he cares about. You absolutely, positively should deliver, and do so in a way that doesn’t increase your boss’s stress. In fact, identify things that reduce that stress, says Saby. “Tell your manager, ‘I see you are under tremendous pressure, how can I help you?’” he suggests.
Keep your boss in the loop
Remember that micromanagers are often motivated by anxiety, mostly regarding if anyone else would be able to do things as well or in the way they would do them. You can often preempt this by keeping your manager informed of your work’s progress. You can schedule regular check-ins that help him feel part of the process. Or you can send unprompted e-mails that share important information. If he has
made clear that he wants to know all the detail, don’t hesitate to get speciﬁc. Even if it might be taxing now, it may save you the effort of redoing work later on. Most importantly, says Meghana, “If you have questions or need clariﬁcations, don’t wait till the last minute. That will only amplify his worry.”
Give feedback, only if appropriate
In some cases, telling a micromanager you don’t appreciate his controlling behaviour can only trigger more of it. But well-meaning managers may be open to hearing your input. “Try to catch your boss in a moment of openness,” says R.S. Pradhan, general manager, Swiss Aid. “Try something like, ‘Look I like working with you but there is one thing that would make things better.’ You can also involve a trusted third party such as HR personnel, who can help you get your point across.” Be careful though. If you have a manager who enjoys showing he has the power and you don’t, this could backﬁre. The key is to know when and where to stop. Understanding that and striking the right balance deﬁnes leadership development. As Pradhan puts it, “Micromanagement is more to do with avoidance of delegation. So, to put it in the right perspective, micromanagement should be taskspeciﬁc, rather than people-speciﬁc, and that is where most people make the mistake.” (Names have been changed to protect identity)
Don’t ﬁght it
Experts agree that it is counterproductive to rail against micromanagement. “If you push back — either passively or aggressively — your manager may sum you up as someone who can’t be trusted and hence get even more involved,” says APC manager Rajiv. Meghana too concurs, saying, “It may be tempting to complain but it is not
Advanc’edge MBA July 2012
Advanc’edge MBA July 2012
The Game Of Gas RIL has for the first time locked horns with the Ministry. The issue revolves around the falling output from Krishna Godavari basin’s D6 block. Mahesh P
ntil January last year, Mukesh Ambani was the most popular man in the Ministry of Petroleum and Natural Gas. However, since Jaipal Reddy took charge as the new Petroleum Minister, replacing Murli Deora, the dynamics gradually began to change for India’s richest man. The Mukesh Ambanipromoted Reliance Industries Limited or RIL has for the ﬁrst time locked horns with the Ministry of Petroleum and Natural Gas and the public spat between Reliance and Ministry is a clear indicator to how the tables have turned. The issue revolves around the falling output from the Krishna Godavari basin’s crown jewel - the D6 block. KG D6 is estimated to hold India’s largest gas reserves, which is around 11.3 trillion cubic feet. As per the agreement between the government and RIL in 2006, Reliance Industries was to produce 61.88 million metric standard cubic metres per day (mmscmd) by April 2011 from 22 wells. Later by April this year it was expected to ramp up production to 80 mmscmd from 31 wells. But RIL was not able to meet its target. Forget ramping up production, output has been going south and has reached only half of the target. At RIL’s Annual General Meeting in June, Mukesh Ambani addressed the problems faced at the KG-D6 basin with respect to gas production and said that the company has witnessed some disappointment with KG-D6 gas reserves and is working closely with BP to solve the problem. He also mentioned plans to chalk out an exploration and development campaign that will efﬁciently target high quality prospects in the deeper zones and also optimise existing as well as future development plans.
www.advancedge.com Advanc’edge MBA July 2012
Battle Moves Court
RIL has always maintained that its relationship with the Ministry of Petroleum and Natural Gas was the same and has not changed. In reality, the fact is that the fall in KG D6 output has changed the way RIL was treated by the Ministry. It all started when reports emerged that the Ministry is unhappy with Reliance and planned to disallow some of the expenditure incurred by the company in the gas ﬁelds. Last November, RIL had sent an arbitration notice to the ministry opposing the move. In May this year, the government ofﬁcially slapped a penalty of over a billion dollars on Reliance industries A notice was sent by the Ministry denying RIL a cost recovery of $457 million for 2010-11 and $1.005 billion for 2011-12 as RIL couldn’t meet drilling commitments. According to the reports, the $1.005 billion is the cumulative cost recovery that has been disallowed and is higher than $778 million that the ministry had been previously contemplating. Meanwhile, RIL has moved Supreme Court seeking the appointment of an arbitrator on behalf of the government. The Ministry said the company’s ﬁve-month-old arbitration notice sent in November was not valid as it had not ofﬁcially stopped RIL from recovering costs in November and a fresh notice was required if it were to contest the ﬁne.
The main reason the Ministry moved to take action against RIL was the report of the national auditor Comptroller & Auditor General or CAG. The report suggested that the Ministry of Petroleum and Natural Gas under Murli Deora and the oil and
CORPORATE WORLD gas regulator Directorate General of Hydrocarbons or DGH favoured Reliance Industries and allowed it to retain its entire eastern offshore KG-D6 block in contravention of the Production Sharing Contract. The report also said, “Reliance was allowed to enter the second and third exploration phases of its blocks without giving up 25 percent of the contract area at the end of each phase, as required, by treating the entire area as a discovery area.”
Where is the Problem?
Many believe RIL is deliberately holding production as the current price is too low. Reliance has already asked the government for permission to raise the price from the current $4.2 per mmBtu. Considering there’s a limited amount of gas in the field, industry watchers believe that Reliance could get a higher price and are waiting for the government to give them permission to increase the price. The current price was set in 2009 after a bitter court battle over the supply and pricing of gas between RIL and Reliance Natural Resources or RNRL owned by Mukesh Ambani’s younger brother Anil Ambani. According to some media reports, RIL wants the price to be increased by 2-3 fold. KG-D6 gas price is officially up for revision in 2014 but RIL is pushing for an even earlier increase. It has also said the price of gas from KG-D6 should be linked to the price of imported LNG secured under long-term contracts.
Oil Ministry’s View
The Directorate General of Hydrocarbons or DGH and the Ministry has rejected RIL’s arguments. According to DGH, the output from D6 fell sharply because the operator did not drill required number of wells. It said that RIL has drilled only 22 wells as against the 31 producing wells approved for drilling up to March 2012 in the field development plan (FDP). Minister of State for Petroleum and Natural Gas RPN Singh mentioned that DGH has not agreed to the contractor’s contention and the ministry has asked the contractor to comply with the approved FDP (field development plan) by drilling more number of gas producing wells in D1 and D3 gas fields and achieve FDP approved gas production profile.
But RIL has refuted all these claims. According to the company, the fall in the www.advancedge.com
output is due to the lack of availability of proper drilling locations due to geological complexities. RIL in its petition has told the Supreme Court that drilling more wells would not increase output. “The petitioners have repeatedly contended that the data now available establishes that the drilling of more wells will not improve the performance - on the contrary it may prove deleterious to the same,” it said in the petition. RIL argues that there is nothing in the production-sharing contract that states that the cost recovery will be allowed only if output target is met. RIL maintains that there is no basis under the PSC to limit the contractor’s recovery of its contract cost by reference to either the production levels achieved or the utilisation of any facilities installed by the contractor.
Gas Supply Worries
RIL as the contractor for KG-D6 had signed Gas Supply Purchase Agreements or GSPAs with various power and fertiliser companies. According to the GSPAs, RIL had to supply 57.17 mmscmd of natural gas across all sectors. Out of these, power sectors accounts for maximum consumption at 28.99 mmscmd, the fertiliser sector comes next at 15.34 mmscmd. City gas distribution networks buy 0.66 mmscmd while LPG plants get 2.59 mmscmd. Non-core sectors such as sponge iron and steel units are allocated 4.19 mmscmd while refineries’ share is 4.21 mmscmd. Petrochemical units have contracted for 1.17 mmscmd. But with output plummeting to a record low, there was no way that RIL could stick to its commitments. In fact it had also said that it cannot sign new Gas Sale RIL’s GSPAs Core Sectors Power sectors accounts for 28.99 mmscmd Fertiliser sector at 15.34 mmscmd City gas distribution networks buy 0.66 mmscmd LPG plants get 2.59 mmscmd. Non-core Sectors Sponge iron and steel units allocated 4.19 mmscmd Refineries’ share is 4.21 mmscmd. Petrochemical units have arranged for 1.17 mmscmd (As of last year)
and Purchase Agreements as meeting new supply commitments would mean cutting gas supplies to existing power plants. The government also asked power producers to refrain from setting up new gas-based plants based on domestic gas till 2015-16 due to the dwindling fuel supply. This clearly indicates that until existing gas demand is fulfilled no further gas-based power generation capacity would be considered for allocation.
Whether the government or Reliance is at fault is debatable. The fact is that the country is suffering. RIL’s claims that output has fallen due to geological conditions might be true. However, according to industry experts the real reason is that Reliance lacks the expertise to drill in complex and deepsea fields drilling. The solution to this impasse could be the entry of global oil major BP. Last year, BP signed a deal with RIL to buy 30 per cent stake in 21 oil and gas blocks in Krishna Godavari basin, including D6 for 7.2 billion dollars. This was one of the biggest foreign direct investment into India and the biggest in the oil and gas space. After the deal, Reliance now holds 60 per cent in KG-D6, BP holds 30 per cent while Niko Resources of Canada holds the remaining 10 per cent. For BP this is a long-term investment in India’s largest gas reserves while for RIL this is a good move as it could bring in BP’s expertise in drilling in complex and deep-sea fields. Both Reliance Industries and BP now hope to boost natural gas output. But things won’t change overnight for RIL. BP is an expert in deep sea drilling and its expertise will bring in the much-needed fillip for KG D-6, however, it will take the next 2-3 years to register results and increase the gas output. The next two years are crucial for both RIL and BP as they hope to revive the stagnating output. A revision in gas price will also help RIL, especially as India has a growing number of industrial consumers who are willing to pay much higher prices for gas, if available. Certainly, both RIL and the government would not want another long-drawn battle in the court. Hence, an out-ofcourt settlement looks inevitable. Advanc’edge MBA July 2012
Love Lost With
Over-zealous love with Facebook’s IPO was shortlived as its shares fell to $31 on May 21, down about 20% since the company went public at $38.
ou may use Google every day, but many might find difficult to place Larry Page. As you read this, you might be googling the name to get the answer. However, if you were asked who Mark Zuckerberg is, you would most probably have the answer. Such is the power of his social networking site Facebook. Love it or hate it, Facebook has changed the way we live. It’s nearly impossible to find a person who never owned a Facebook account. The month of May saw the listing of the largest technology company on Nasdaq. Facebook’s $16 billion initial public offer (IPO) was the most-awaited offering. It was not just the talk of the town or the country, but of the whole world. Analysts and markets saw this as a way to revive sentiments and give a much-needed fillip to the equity markets. Media, both print and electronic, across the world covered the run up to the IPO as its biggest story. Everyone wanted a share of the pie. And the stage was set for Facebook to explode. The company got listed at $38 per share giving it a staggering valuation of $104 billion.
Listing, trading error and the trouble begins
On May 18, the social networking site’s shares were expected to start trading at 11 am. Even though US markets open at 9:30 am, generally, IPOs listed on the Nasdaq don’t start trading until at least an
Advanc’edge MBA July 2012
hour later. But even after 11 am there was no trading. Finally, it began half an hour late. The trading was fast and intense, with more than 80 million shares changing hands in the first 30 seconds. The stock went up to $42 per share. But soon traders began complaining that their orders were not being completed and they were getting shares at a higher price than expected. There was utter confusion and things were still unclear. On May 21, Nasdaq came out and said that the trading delay was due to a technical error. This spooked investors, causing many to sell, driving the stock price down. Facebook shares fell to $31 on May 21, down about 20% since the company went public at $38.
Just days before the IPO, General Motors announced that it planned to stop advertising with Facebook after finding that paid ads on the site have little impact on consumers’ car purchases. The move by GM, one of the largest advertisers in the US, puts a spotlight on an issue that many marketers have been raising — whether ads on Facebook actually help them sell more products. In its www.advancedge.com
Immediately after the IPO debacle in a span of a month, Facebook is facing as many as 40 lawsuits in different courts. www.advancedge.com
The lawsuits were of two kinds. The first category of lawsuit was against the company and its underwriters. According to the lawsuit, Facebook had allegedly shared information about the health of its business with analysts at its underwriters, including Morgan Stanley, who then shared the information verbally with large institutional investors. However, none of this information was disclosed to the public. According to the first lawsuit filed in a New York district court, sharing of information was a violation of federal securities laws and puts the smaller investors at a disadvantage. Earlier, a Reuters report had alleged that analysts at Facebook’s lead underwriter Morgan Stanley received privileged information about Facebook’s financials. Reuters also reported a few hours later that Morgan Stanley and three other major underwriters Goldman Sachs, JPMorgan and Bank of America reduced their earnings outlooks for Facebook to strikingly similar levels just ahead of the IPO. Questions arose as to how four different banks would cut their estimates similarly in a short span of time and whether small shareholders were left out of back-door conversations. The lawsuit alleges that Facebook told analysts at its underwriters to materially lower their revenue forecasts for 2012. Facebook responded to this and released a statement saying the suit is without merit. Morgan Stanley in response to this said it followed the same procedures for the Facebook offering that it follows for all IPOs. The second category of lawsuits, against the Nasdaq, comes from the technical problems that caused Facebook shares to start trading half-an-hour late on the morning of May 18, resulting in confusion among some investors about whether they had successfully traded shares and at what price. Facebook, meanwhile, in its petition has requested the U.S. courts to consolidate all the lawsuits and argued that the lawsuits filed against the
company, some of its directors, the underwriters for its IPO and the Nasdaq stock market should be heard together in the federal court in the Southern New York district. The company said the cases rely on a common nucleus of facts concerning the IPO and the decline in the price of Facebook shares. Its lawyers also said that consolidating the cases would avoid duplication of discovery and possible inconsistent rulings. They argued that both Facebook and the underwriters did indeed follow customary practices and did not violate any rules, and the theory that it was improper for analysts to discuss their forecasts with “preferred investors” is unprecedented. Whether Facebook fights the cases or goes for an out-of-court settlement needs to be seen. But a bigger question is if it can sustain the momentum and add to its existing 900 million subscribers. Facebook has been around now for over 7 years, which is a long time in the online world. There are already people saying they are getting bored of Facebook. There are others who are gradually not using it because of restrictions at work or citing reasons like privacy, family or work colleagues being there. What everyone is hoping now is that Facebook doesn’t follow the path of other social networking sites like Myspace and Orkut. Myspace, and to an extent Orkut, were quite popular in the beginning, but when Facebook came, people gradually moved on to it. So, will people move away from Facebook when a better product comes? Only time will tell.
FACEBOOK IPO What Happened? On May 18, Facebook shares were expected to start trading at 11 am. Trading starts late at 11:30 am. 80 million shares change hands in the first 30 seconds. Stock went up to $42 per share. Traders complain their orders were not being completed. May 21: Nasdaq says trading delay was due to a technical error. Investors sell shares, driving stock price down. About 40 lawsuits filed Advanc’edge MBA July 2012
GDP Takes A Dive India’s fourth quarter GDP growth of 5.3 per cent for 2011-12, a tumble from 9.2 per cent in the same quarter of 2011, has been a decade low. Mahesh P
ndia’s fourth quarter GDP growth of 5.3 per cent for 2011-12, a stunning tumble from 9.2 per cent in the same quarter of 2011, has shocked markets and industry. Analysts were expecting the figure to be at 6.1 per cent, but no one expected it to be at a decade low. The fall was led by the manufacturing sector contracting to 0.3 per cent from 7.3 per cent in the period of 2010-11. This has placed India at fourth position among the emerging Asian market economies, behind China, Philippines and Indonesia. The current figures are bleaker than those seen after the collapse of Lehman Brothers in the late 2008, when the growth decelerated to an annual rate of 5.8 per cent. Even though part of the low growth could be explained by a sharp revision of GDP expansion in the corresponding period of 2010-11 to 9.2 per cent from the
Advanc’edge MBA July 2012
earlier estimate of 7.8 per cent, there is no question that it’s time for the government to act. Reacting to the numbers, Finance Minister Pranab Mukherjee has said that even though the figures are disappointing, India is now set to recover. Mukherjee also added that GDP is set to recover as most of the factors leading to the sharp drop in economic growth in 2011-12 have bottomed out.
Even as policy makers and the government say that the numbers were terrible, most of them put the onus on global factors such as debt crisis in the Euro Zone. However, economists beg to differ. To an extent, they agree that the external environment is to be blamed for the faltering growth. However, all of Asia’s emerging markets have been hit
by the slowdown in the United States and uncertainty in Europe. Incidentally, India has fared worse than others have and has lost its ranking as the region’s secondfastest growing economy. The economists believe that the government’s policy inertia and the absence of significant reforms to sustain growth have now turned India’s slowdown from a cyclical one to something that is structural or systemic. They believe that the government needs to begin admitting that the problem lies not in Greece, but at home.
Key Challenges for Growth
The biggest challenge is inflation. Soaring food prices and the government’s inability to tame the menace has been a big blow for the ruling UPA coalition. The government’s decision to deregulate petrol in June 2010 has had its fair share in contribution to the inflation. Actually, inflation and growth are like two sides of a coin. To tame inflation, the government had to sacrifice growth. To this end, the Reserve Bank of India hiked rates 13 times in three years to control inflationhampering growth. Just like inflation, the government has also been unable to control fiscal deficit, which in the last financial year ballooned to 5.9 per cent against the projected 4.6 per cent. A higher subsidy bill and lower tax revenues resulted in India missing its fiscal projections for 2011-12. The Finance Minister in his budget speech promised to bring it down to 5.1 per cent of the GDP, at Rs 5.13 lakh crore. India’s current account deficit has been widening too on the account of rising fuel prices and a large gold import bill, and the gap is now at its widest since 1980. Western nations might look with envy at a growth rate of more than 5 per cent, but not at India’s inflation rate of www.advancedge.com
CORPORATE WORLD over 7 per cent compounded with current account gap and fiscal deficit.
Lack of Reforms
The Congress-led United Progressive Alliance has taken no major policy initiatives since it won a second term in 2009. Instead, huge corruption scandals such as 2G and Coalgate and petty politics by coalition allies have frozen the government into inaction. As the Congress doesn’t have an absolute majority in Parliament, all major reforms have been put on the backburner. Even as FDI in single brand retail got approval, upping FDI in multi-brand retail has met with stiff resistance not just from the Opposition but also from the allies. The implementation of the Goods and Services Tax, or GST, which was expected to replace all existing indirect taxes levied by the Central and state governments, has been pushed to 2013.
The Weakening Rupee
The Indian rupee has been taking a beating, hitting a record low of INR 56.51 against the dollar and making it harder to cut the massive current account deficit. Over the past eight months, it has depreciated by around 25 per cent against the dollar, making it one of the worst performing emerging market currencies. According to the economists, historically, depreciation in the rupee has been driven by equity inflows and outflows. However, this time it has been driven by other factors such as the current account deficit, high oil and gold prices, and global uncertainty. Funding the growing deficit has been one of the biggest problems and has taken its toll on the rupee. Even the Reserve Bank of India has its hands tied, because attempts to bolster the rupee would invariably drain liquidity from the markets.
Lack of Investments
Investment is the key to clock higher growth rate and India is struggling to attract foreign investment, with its investment climate worsening considerably over the past three years. As of now, there are no new order flows. According to economists, foreign investors may continue to invest in India, provided they get some growth visibility. Right now, what’s lacking is some direction regarding growth. www.advancedge.com
Disappointment in BRICS
India, once a BRICS darling, is beginning to lose its sheen. Post the growth numbers, there have been suggestions that India should be thrown out of BRICS and replaced by Indonesia. The shocking numbers sparked a new round of economic downgrades from investment banks. Morgan Stanley cut India’s forecasts for the second time in as many weeks. HSBC, in a report titled Gasping Elephant, said, “With policy paralysis not likely to ease any time soon, India may have to settle for sub-par growth and elevated inflation over the next couple of years.” Credit Suisse also criticised the government, saying the fall in GDP growth “will inevitably send shivers down the spines of senior coalition politicians, who will no doubt be heaping pressure on the Reserve Bank to react and react aggressively”. Credit rating agency Standard & Poors, or S&P, which had scaled down India’s outlook from stable to negative in April, said that India could become the first of the BRIC economies to lose its investment-grade status. In its report ‘Will India be the first BRICS fallen angel’, S&P said, “Slowing GDP growth and political roadblocks to economic policy-making could put India at the risk of losing its investment grade rating. The negative outlook also reflects the risk that Indian authorities may be unable to react to the economic shocks quickly and decisively enough to maintain its current creditworthiness.”
Tiding Over The Worst
Things are not looking great and confidence is fast evaporating. But all is not lost. Most negative aspects have already been factored in and we have seen the worst of bad times. Inflation has come down to 7 per cent. Even though it is still high, it has come down from its all time high. But 2012 will continue to be a challenging year for the economy and industry. Some relief is expected on the inflation, interest rates and current account deficit fronts. A repeat of the full-blown crisis like in 1991 is nearly impossible, especially because India’s stock of foreign reserves is comfortable at nearly $300 billion.
The lack of confidence in India’s growth story is what’s plaguing the economy at the moment. So, the first thing the government should do is to reinstate confidence. To start off, implementation of the already announced policy measures will help. How RBI governor D Subbarao assesses the situation and whether he reworks his growthinflation priorities will hold the key in the coming days. But one thing is clear, that both the government and the RBI need to act and act decisively if the economy is to be brought back on track.
INDIA’S GROWTH WORRIES Q4 GDP Community, social services growth at
7.1% vs 7.9% in Q3 Financial
10% vs 9% in Q3 Construction growth at 4.8% vs 7.2% in Q3 Electricity, gas growth at 4.9% vs 9% in Q3 Manufacturing
0.3% vs 0.4% in Q3 Mining at 4.3% vs -3.1% in Q3
Farm output growth at
2.7% in Q3
WHAT’S HAMPERING GROWTH Domestic Factors Inflation High Fiscal Deficit Ballooning Current Account Deficit Lack of Reforms Negative Sentiment
Slowdown of US Economy Euro Zone Debt Crisis Advanc’edge MBA July 2012
WORD DOSE Gaurav Sharma
Despondency In the living room sat a magniﬁcent mini bike. For a brief moment, Lily was ﬁlled with what seemed like insurmountable exhilaration. It was Christmas and kids wanted their gifts. But Lily knew that the mini bike belonged to her brother and that she had been rele gated to that doll. She couldn’t imagine anything better than that bike. Lily’s resentment could not have been more palpable. Then, her eyes caught sight of a baby doll sitting on the couch with a huge bow. Tommy always got cool things: skateboards, gliders, science kits. The mini bike was just the latest cool thing. Hadn’t Lily asked for the bike with as much fervour as her twin brother? She was infuriated. Lily threw a superﬁcial glance at the gifts and thought nothing more of the scarlet bike. She threw her doll into the ﬁreplace. “Lily!” mother hollered suddenly, her thunderous voice tantamount to the rumbling storm building outside. Mother continued to castigate Lily most thoroughly, rebuking her for insolent behaviour and lack of respect. To Lily, Mother was irrational, hurling hurtful invective. “Oh, Mother,” Lily sighed, crumpling to the ﬂoor, despondent.
Advanc’edge MBA July 2012
STUDY HOUR Word Dose
WORD MEANINGS Insurmountable (adj)
Incapable of being
A feeling of excitement
Sent or consigned to an
The feeling of displeasure
inferior position, place,
or indignation at some
act, remark, person
Great warmth and
Shallow; not profound
earnestness of feeling
A bright-red colour
Producing thunder or
Equivalent to the value,
a loud noise like thunder
inclining toward orange
Deep, heavy, somewhat
To criticise or
To express sharp,
Boldly rude or
stern disapproval of
sound, as thunder
Not in accordance with
Insulting or abusive
To cause to collapse or
words or expressions
give way suddenly
(dih-spon-duhnt) Feeling or showing profound hopelessness, dejection, discouragement, or gloom
Advanc’edge MBA July 2012
1. Who is the current US Defence Secretary? a. Neil Holster McElroy b. Donald Rumsfeld c. Leon Panetta d. Robert M Gates 2. Name the author of The Martian Chronicles and Fahrenheit 451, who died recently at the age of 91 in his home at Los Angeles. a. Ray Bradbury b. JM Coetzee c. Nadine Gordimer d. Philip Roth 3. In a special message to the United Kingdom and the Commonwealth, the Queen says she has been “touched deeply” by seeing so many people celebrating her ... together. a. Platinum Jubilee b. Diamond Jubilee c. Silver Anniversary d. Marriage 4. Which Indian cricketer has been sworn in as a Member of Parliament’s Upper House the Rajya Sabha? a. MS Dhoni b. Virat Kohli c. Virender Sehwag d. Sachin Tendulkar
to as Euro 2012, features how many teams? a. 19 b. 8 c. 16 d. 11
8. Name the first female Nobel Prize laureate in Economics who died at the age of 78 recently. a. Maria Goeppert Mayer b. Elinor Ostrom c. Shirin Ebadi d. Pearl Buck
15. How many Member Nations does the United Nations have? a. 151 b. 60 c. 193 d. 200
10. What is the official name used by the U.S. government for the War in Afghanistan? a. International Security Assistance Force b. Operation Smiles c. Battle of Tora Bora d. Operation Enduring Freedom
16. When was Vatican City State established by the Lateran Treaty, signed by Cardinal Secretary of State Pietro Gasparri, on behalf of Pope Pius XI and by Prime Minister and Head of Government Benito Mussolini on behalf of King Victor Emmanuel III of Italy? a. 1910 b. 1915 c. 1929 d. 1939
5. Who is the External Affairs Minister of India? a. SM Krishna b. Jagan Mohan Reddy c. Murali Manohar Joshi d. Mamata Banerjee 6. Who won the 2012 French Open recently? a. Maria Sharapova b. Sania Mirza c. Serena Wlliams d. Venus Williams
12. Who invented the electronic analog Moog Synthesizer? a. Patirck Moog b. Cynthia Moog c. Robert Moog d. Charles Moog
13. Former Tunisian President ... was overthrown in a month-long
14. What is the name of the French Foreign Minister? a. Jacques Delors b. Jean-Marc Ayrault c. Pierre Mauroy d. Laurent Fabius
9. Who is the 11th and current Chief Minister of West Bengal? a. Pranab Mukherjee b. Jyoti Basu c. Buddhadeb Bhattacharya d. Mamata Banerjee
11. When did the First Congress of People’s Deputies of the Russian Federation adopt the Declaration of State Sovereignty of the Russian Soviet Federative Socialist Republic, which is also celebrated as Russia Day? a. January 1, 1800 b. June 12, 1990 c. October 30, 1982 d. August 31, 2000
The 2012 UEFA European Football Championship, commonly referred
popular uprising last year and fled to Saudi Arabia on January 14, 2011. a. Zine El Abidine Ben Ali b. Moncef Marzouki c. Habib Bourguiba d. Fouad Mebazaa
17. From where did the cultural movement Renaissance, which spanned the period roughly from the 14th to the 17th century, begin? a. Italy b. Britain c. Canada d. Rome 18. The Vitruvian Man is a worldrenowned drawing was created by whom in circa 1487? a. Leonardo da Vinci b. Pablo Piccasso c. Francesco Sforza d. Michelangelo
Advanc’edge MBA July 2012
19. Name the creator of Linux who was recently named as the joint winner of the 2012 Millennium Technology Prize. a. Shinya Yamanaka b. Steve Jobs c. Ainomaija Haarla d. Linus Torvalds 20. Every year since ... the Nobel Prize has been awarded for achievements in physics, chemistry, physiology or medicine, literature and for peace. a. 1918 b. 1818 c. 1809 d. 1901 21. Name the poet who wrote The Wasteland and was awarded the Nobel Prize in Literature in 1948. a. Ezra Pound b. TS Eliot c. WB Yeats d. Dante Alighieri
25. The New York Times (NYT), an American daily newspaper founded and continuously printed in New York City, is being published since when? a. 1708 b. 1800 c. 1915 d. 1851
26. Who won the first Formula One World Championship in his Alfa Romeo in 1950? a. Juan Manuel Fangio b. Giuseppe Farina c. Mike Hawthorn d. Colin Chapman 27. The ... was a series of conflicts waged from 1337 to 1453 between the Kingdom of England and the Kingdom of France and their various allies for control of the
French throne, which had become vacant upon the extinction of the senior Capetian line of French kings. a. Hundred Years’ War b. World War I c. French Revolution d. War of the Breton Succession
28. Athens is the capital and the largest city of which country in Western Europe? a. Iceland b. Ireland c. Greece d. Italy 29. He was a noted statesman and orator. He was also an officer in the British Army, a historian, a writer, and an artist. He is the only British prime minister to have received the Nobel Prize in Literature,
22. What is the American actress, model, and singer Norma Jeane Mortensen known as? a. Elizabth Taylor b. Marilyn Monroe c. Jean Harlow d. Lana Turner 23. Inglourious Basterds is a 2009 war film written and directed by ... and starring Brad Pitt, Christoph Waltz and Mélanie Laurent. a. Quentin Tarantino b. Mélanie Laurent c. Lawrence Bender d. Christopher Hitchens 24. Which city bills itself as The Entertainment Capital of the World, and is famous for its consolidated casino-hotels and associated entertainment? a. Thailand d. Hong Kong c. Nepal d. Las Vegas
Advanc’edge MBA July 2012
How to Play Fill in the grid so that every horizontal row, every vertical column and every 3x3 box contains the digits 1-9, without repeating the numbers in the same row, column or box. You can’t change the digits already given in the grid. Every puzzle has one solution. Hint: Don’t fill in numbers at random. While filling a particular square, write numbers 1-9 on a pad and start eliminating those numbers that already appear in the same row, column or 3x3 box. www.advancedge.com
and was the first person to be made an Honorary Citizen of the United States. Name him. a. Theodore Roosevelt b. Winston Churchill c. Abraham Lincoln d. Anthony Eden
30. Whose used notes taken during a trip to write an account entitled ‘The Motorcycle Diaries’, which later became a New York Times best-seller, was adapted into a 2004 award-winning film of the same name? a. Fidel Castro b. Alberto Granado c. Carlos Castillo Armas d. Ernesto ‘Che’ Guevara 31. Name the Jamaican sprinter who has been five-time World and three-time Olympic gold medalist. a. Usian Bolt b. Roy Martin c. Michael Johnson d. Fitz Coleman 32. The first newspaper in India was started in 1780 under the British Raj
ANSWERS 1.c 2.a 3.b 4.d 5.a 6.a 7.c 8.b 9.d 10.d 11.b 12.c 13.a 14.d 15.c 16.c 17.a 18.a 19.d 20.d 21.b 22.b 23.a 24.d 25.d 26.b 27.a 28.c 29.b 30.d 31.a 32.c 33.d 34.b 35.a 36.c 37.a 38.b 39.c 40.d 41.c 42.c 43.a 44.c Answer to the Sudoku
Solution, tips and computer programme at www.sudoku.com www.advancedge.com
by James Augustus Hickey. Name the publication. a. Times of India b. Bombay Samachar c. Bengal Gazette d. Malayala Manorama
33. He started working with Arab merchants in the 1950s and moved to Mumbai in 1958 to start his own business in spices. After making modest profits, he moved into textiles and opened his mill near Ahmedabad. Name him. a. JRD Tata b. Mukesh Ambani c. Adi Godrej d. Dhirajlal Ambani 34. When was the first Fortune 500, created by Edgar P. Smith, list published? a. 1900 b. 1955 c. 1975 d. 1920 35. It operates in Mexico as Walmex, in the United Kingdom as Asda, in Japan as Seiyu, and in India as Best Price. Name this American multinational retailer corporation that runs chains of large discount department stores and warehouse stores. a. WalMart b. Tesco c. Sainsbury d. Zellers 36. The Social Network, a drama film directed by David Fincher about the founding of ..., was released October 1, 2010. a. Orkut b. Apple Inc c. Facebook d. Yahoo 37. Name the stock exchange located on Dalal Street, Mumbai, which is also the oldest stock exchange in Asia. a. Bombay Stock Exchange b. National Stock Exchange c. MCX d. NIFTY
38. Known as the “Land of 10,000 Lakes”, the state’s name comes from a Dakota word for “sky-tinted water”. Name the U.S. state. a. Dakota b. Minnesota c. Alaska d. Michigan 39.
When was Citibank founded? a. 1912 b. 1830 c. 1812 d. 1950
40. Which Australian Internet activist is generally described as founder, editor-in-chief, and director of Wikileaks? a. Kristinn Hrafnsson b. Ingi Ragnar Ingason c. Gavin MacFadyen d. Julian Assange 41. Which Indian state has banned guthka from April 1, 2012 to curb the increasing number of mouth cancer cases? a. Maharashtra b. Gujarat c. Madhya Pradesh d. Bihar 42. Which Asian country has made Hindu marriage registration a must by bringing the law in lines with India? a. Pakistan b. Sri Lanka c. Bangladesh d. Nepal 43. Name the youngest Indian boxer who qualified for London Olympics 2012. a. Shiva Thapa b. Akhil Kumar c. Vikas Krishan d. Vijender Singh 44. India has recently decided to allow Foreign Direct Investment from which Asian country? a. Bangladesh b. China c. Pakistan d. Myanmar Advanc’edge MBA July 2012
STUDY HOUR Events Calendar
SGBED Fourth Research Symposium Venue: IIM, Bangalore Date: July 9-11, 2012
The Society for Global Business and Economic Development (SGBED), a global network of academic scholars, is conducting the Fourth Research Symposium in collaboration with the Centre for Public Policy (CPP), Indian Institute of Management Bangalore (IIMB), Centre for Corporate Governance and Citizenship (CCGC), IIMB and Curtin Business School, Curtin University, Australia. The theme set for this year is ‘Doing Well by Doing Good: New Perspectives on Corporate Social Responsibility, Sustainability, and Inclusive Capitalism’. SGBED has conducted three theme-focused research symposia in Bangkok, Dubai, and Barcelona and have focused on services marketing, regional economic clusters and innovation respectively. The upcoming fourth research symposium hopes to build on the momentum of the earlier symposia to bring together selected papers on a common theme to enable like-minded researchers to interact with their peers. Fifty researchers around the world will participate and present their research findings. Website: http://www.iimb.ernet.in/node/3095
Venue: ISB, Hyderabad Date: July 26-29, 2012 The Centre for Analytical Finance (CAF) at the Indian School of Business (ISB), Hyderabad, India, will hold its annual flagship Summer Research Conference in Finance. The conference will begin with a reception for the participants on Thursday, July 26, evening, followed by paper presentations on July 27 to 29. Douglas Diamond, Merton H. Miller, distinguished service professor of Finance and Richard N. Rosett, faculty fellow, Booth School of Business, University of Chicago, and CAF Academic Fellow 2012, will deliver a keynote speech at the conference. The theme of the conference is Recent Advances in Corporate Finance. There will be a USD 5,000 award funded by Citi Foundation for the best paper presented at the conference. Website: http://www.isb.edu/financeconference2012/
Advanc’edge MBA July 2012
International Conference on Technology Management in 2012 (ICTM 2012)
Venue: Indian Institute of Science, Bangalore Date: July 18-20, 2012 This proposed conference has been organised by the Department of Management Studies, Indian Institute of Science, Bangalore, a leader in research and education in Technology Management for the last several decades. This conference aims at integrating experiences of academicians, industry leaders, technology managers and innovators towards effective knowledge creation and economic prosperity. The conference theme will be achieved through four main events: Researchers’ conclave with research paper presentations (which willalso have peer reviewed paper presentations), CEOs’ conclave deliberating on the mega technology trends, an Innovation Valuation conclave featuring innovators, bankers and venture capitalists discussing issues related to valuation of intellectual capital, and an innovators’ conﬂuence and exhibition, where a number of peer reviewed innovations from IISc, DRDO, SMEs, and National laboratories will be showcased. The conference will address the theme ‘Driving the Economy through Innovation and Entrepreneurship: Emerging Agenda for Technology Management’. The conference is envisaged by including events targeted at academics, corporate executives, scientists, bankers, consultants and policy makers. Website: http://www.mgmt.iisc.ernet.in/ictm/Home.html
Venue: IIM, Ahmedabad Date: July 14, 2012 The theme of TechSparks 2012 is ‘The Smartest Way to Scale Your Startup’, focused on enabling all the factors required for the rapid growth of technology ventures. This theme will be taken forward at the regional rounds of TechSparks 2012, to be conducted in ﬁve cities — Mumbai, New Delhi, Chennai, Ahmedabad and Hyderabad between May and July 2012. Each regional round will bear witness to a ﬁrst-of-its-kind product tech workshop conducted by experts, covering all major decision areas such as design, technology, positioning, marketing, funding, etc that govern a startup’s lifecycle. All startups who register for TechSparks will receive free invites to these workshops. With an illustrious past and grand scale to back it up, TechSparks 2012 aims to expand the beneﬁts reaped by participating entrepreneurs to include access to potential customers and/or partners, investors, mentors, potential employees and mainstream media, all under one roof. So, if you’re an entrepreneur or if you’re looking forward to be a part of the technology innovation boom in India, do register at the earliest. Website: http://www.yourstory.in/events/techsparks/ regional-round-table/ahmedabad/ www.advancedge.com