Advanc'edge MBA September 2011

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September 2011

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Mumbai | Volume IX | Issue 2

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A paradigm shift

It is imperative to start on a positive note and plan right. It is also important to keep yourself motivated.

It is that time of the year when students are busy preparing for the mother of all competitive exams – the CAT. Add to this the fact that the exam will have a changed pattern. There will be only two timed-sections in the 2011 CAT. Students, typically view these changes as impediments in their path to success. However, with every passing year, the level of competition as well as expectations keep rising. Consequently, there is a significant change in the manner in which the candidates are tested. So, whatever the changes, preparedness is the key.

In the process of observing students appearing for the CAT, one realises that the fundamental difference between those who crack it and those who don’t is the mindset.

Beyond a basic level of intelligence and aptitude that the exam demands, it is indeed more about attitude than brilliance. Most students cross the basic threshold, but stumble when it comes to having the right mindset. In fact, most start out with telling themselves ‘CAT is too difficult an exam for me to crack’. This self-defeating thought is supported by some false notions that only further strengthen the negative belief. So, it is imperative to start on a positive note and plan right. It is also important to keep yourself motivated; do not stress yourself out by long hours of continuous study.

To know more about the imminent changes and how to prepare well for the test, turn the pages to “First Step”. In addition, Prof Janakiraman Moorthy, CAT 2011 Convenor explains how the change in the test pattern would help IIMs in identifying the appropriate candidates, and the reason behind making this change.

Further, this section delves deeper into the launch of New GRE, which offers more precise scoring and a user-friendly design. The launch of the new test marks the most significant change in the 60-year history of the GRE. We also present David Payne, Vice President & COO Higher Education Division, ETS, who outlines the best way in which students could approach the new GRE. The “Careers Watch” section focuses on specialised programmes and the career opportunities that exist for an MBA-BA combination. This issue also highlights MBA programmes with a focus on Consulting at business schools worldwide. With the consulting sector in India expected to grow at a rate of 30 percent every year, read the “MBA Buzz” section to get an in-depth understanding of the opportunities that exist in this sector.

And as always, the Current Affairs and World View throw light on some key issues that have taken the country and the world by storm.

Keep reading and stay informed!

Sarita Kutty

EDITORIAL Editor: Sarita Kutty Senior Correspondent: Gauri Puranik Correspondents: Reshma Majithia Serena Kallian

DESIGN Uma Shirke

ADVERTISING Rekha Billava, Nikhil Harpale, Nitin Kewlani, Suchita Parab Tel - 022-23533503/05/10 CIRCULATION / SUBSCRIPTION Ramesh More HEAD - PUBLICATIONS Anil Bhagtani ADDRESS FOR CORRESPONDENCE Advanc’edge MBA, IMS Publications, A Division of IMS Learning Resources Pvt. Ltd., 1/45 Tardeo A.C. Market, Tardeo, Mumbai - 400 034.

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Reproduction in whole and in part without written permission is prohibited. Printed and published by Kamlesh Sajnani, on behalf of, IMS Learning Resources Pvt. Ltd., 1/45 Tardeo A.C. Market, Tardeo, Mumbai - 34. Printed at Uchitha Graphic Printers Pvt. Ltd., 65, Ideal Ind. Est., Mathuradas Mill Compound, Lower Parel, Mumbai - 13 and published at Mumbai.

www.advancedge.com Advanc’edge MBA March 2011 1

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EDITOR-IN-CHIEF Kamlesh Sajnani

C o nt e nts

September 2011

FIRST STEP

FINANCIAL DYNAMICS

04 06

REGION FOCUS

PERSPECTIVE CAT 2011: A perspective on the changes in CAT structure SCHOOL SPEAK Prof Janakiraman Moorthy, Professor, M arketing at IIM Calcutta and CAT 2011 Convener COVER STORY To East or West? The Destination Conundrum

08 12 14

SPECIAL REPORT The GRE is dead, Long Live the Revised GRE! EXECUTIVE SUITE David Payne, VP & COO, Higher Education Division, ETS

CAREERS WATCH

IN FOCUS MBA for BA graduates

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MBA BUZZ

SPECIAL REPORT MBA in CONSULTING

20 24 26 30 31 38

STUDENT SILHOUETTE Kreisel D’Lima, Institute of Management Technology, Dubai STUDENT SILHOUETTE Dinesh Yadav, a second-year PGP student at IIM-Bangalore STUDENT SILHOUETTE Vijeth Shetty, MBA - Strategic Marketing and Operations Management, ISB CAMPUS WATCH Praxis launches PGP in Business Analytics Praxis, ICICI Bank & PwC Interview IMSuccessful Adoor Vikramaditya Rau, IIM Ahmedabad Bikramjit Chaudhury, IIM Ahmedabad

Pooja Kalyanker, IIM Lucknow PLACEMENT REPORT Placement Trends 2011 continued

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MBA Fellowships

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B-Schools in Western India

SCHOOL SPEAK Dr C Gopalkrishnan, Director at the Institute of Management, NIRMA University, Ahmedabad

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STUDENT SILHOUETTE Raunaq Dubey, MBA++ , PUMBA

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CORPORATE WORLD BRAND WAGON Dabur India: Energising growth

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BUSINESS ANALYSIS Debt downgrade in the US

65 67 69 71

Foreign Direct Investment in Multi-brand Retail Draft Land Acquisition Bill, 2011 Economic Indicators

WORLD VIEW

74

Euro Sovereign Debt Crisis 2011

CURRENT AFFAIRS

75

Jan Lokpal Bill 2011

STUDY HOUR WORD DOSE Mumbai Magic with Harish

77 79 82

Globescan Sudoku B-school Events

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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FIRST STEP

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FIRST STEP Perspective

CAT 2011 A perspective on the changes in test structure Tony Xavier

T

he Indian Institute of Managements (IIMs) recently announced a changed module for CAT 2011 exam. To be held from 22 October to 18 November 2011, CAT 2011 will now have only two sections: } Quantitative Ability & Data Interpretation } Verbal Ability and Logical Reasoning The candidates will also be provided 15 minutes tutorials before the examination starts. Including the tutorials’ timing, examination will be of two hours and 35 minutes.

Further, candidates will have 70 minutes to answer 30 questions in each section, which will have an onscreen countdown timer.

Once the time ends for the first section, they will move to the second and will no longer be able to go back.

A practice test to provide candidates with a feel of the timed sections, as well as navigation and functionality of the actual test, will be available soon.

Another development is the inclusion of three new cities - Bhilai, Jammu and Dehradun - to the previous 33 test locations.

A more balanced test } By ensuring that students have to spend equal time on both sections the IIMs have ensured that the CAT will become more balanced as a test. } By implementing a sectionaltime limit the test will be able to better filter out people who are equally competent in both sections.

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Test becomes more inclusive } The CAT Convener has said that through these changes they hope to make the test fair and equitable; we are sure that this will happen because these changes make the test more inclusive. } The changes are a shot in the arm for test-takers from a nonMath background as they will now be on a more equal footing with engineers. } Since one has to allot 70 minutes to each section, engineers and others with a Math background cannot push the Math cut-offs higher and keep the Verbal cutoffs low.

Competence not strategy Whether they like it not, test-takers are now going to have to spend 70 minutes on a section that might not be their strong point. With the implementation of sectional time limits the CAT will become a test

of competence rather than strategy since test-takers can no longer take the test in a way that maximises the return on their strengths and covers their weaknesses.

For example, a test-taker whose forte was acing the Verbal Section of the CAT could have finished the Verbal section very quickly and allocated the surplus time to clear the Quant cut-offs. In the new format this is no longer possible. The testtaker has no option but to improve his attempts and accuracy in the Quant Section within the 70 min time-limit.

Putting a number to competence?

It is seen that test-takers who get calls from the IIMs tend to attempt about 80% of the questions in a section and get about 85% of them correct. So in the case of the new CAT the target for test-takers should be to enable them to attempt about 24 questions in 70 minutes and get about 20 of them right.

Courtesy Corbis Images www.advancedge.com

Perspective FIRST STEP Preparation plan for test-takers whose forte is verbal ability This section will now have both PS and DI. We surmise that 20 questions will be from PS and 10 from DI. The PS questions will be typically spread more or less evenly across the areas: Numbers, Arithmetic, Algebra, Geometry and Modern Math.

We usually find that testtakers weak in Math tend to prefer Arithmetic and do not even go near areas like Geometry and Modern Math.

To be able to attempt 24 questions in the given time frame, test-takers should develop the competence to answer Math questions from all the areas.

So, test-takers belonging to this category should spend the next month brushing up their concepts from all the Math areas mentioned above and practising as many problems as possible to increase their speed. Test-takers should make it a point to increase their attempts

in areas they dislike by working on them between tests.

If they are really good at Verbal Ability they should limit their preparation to test-taking and need not focus on it between tests.

Further, all axioms of Geometry have to be learnt!

As far as DI is concerned test-takers have to get better at calculation since DI and LR have now been separated. So, over the next month, they should practise a lot of calculation-intensive DI sets to improve the speed and accuracy of their calculation.

Preparation plan for test-takers whose forte is quantitative ability Test-takers good at Math typically, Allocate very little time to Verbal Ability since they believe that allocating more time does not increase their accuracy.

Find Reading Comprehension to be their biggest roadblock; the usual refrain being that they usually get caught between two answer options.

The first thing that they have to realize is that the new test-format places those with better Verbal skills on a more even-footing with them.

So, they have no option but to improve their competence in the section. They should also: } Develop the habit of reading passages properly and then answering questions, rather that switching at random between the passage and the questions. } Getting stuck between two options is a sign of not having understood that portion of the passage properly and the only way to solve this is by improving the way one reads passages.

Apart from Reading Comprehension, test-takers should work on their vocabulary and grammar since these are the only areas which can be improved over a relatively short time-period.

Tony Xavier is Head – Academics, IMS Learning Resources Pvt Ltd offers a perspective on the changes in the test structure.

Courtesy Corbis Images www.advancedge.com

Advanc’edge MBA September 2011

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FIRST STEP School Speak

“Aspirants should take CAT keeping their final goal in mind” … says Prof Janakiraman Moorthy, Professor Marketing at IIM Calcutta and CAT 2011 Convenor.

The IIMs are confident that CAT 2011 is going to help them in identifying the appropriate candidates for our programmes, and that the examination will be fair and equitable. According to him, considerable effort has been invested in maintaining similar level of difficulty across papers. Further, a small number of statistically and psychometrically validated questions will be randomly inserted in each question paper as equating blocks. These will be used for assessing post test equality across the days. In this e-interview with Sarita Kutty, Prof Moorthy outlines the dos and don’ts for CAT 2011.

Could you tell us about the changes in the CAT this year?

The CAT2011 will have only two sections. The first section will focus on Quantitative Ability & Data Interpretation; the second on Verbal Ability & Logical Reasoning. These two sections will be implemented sequentially with separate time limits. The examination will be 140 minutes. Candidates will have 70 minutes to answer 30 questions within each section, which will have an on-screen countdown timer. Once the time ends for the first section, they will move to the second and will no longer be able to go back. Although new in the computer-based version of CAT, this format was previously practiced in some of the earlier paper-and-pencil years.

What is the reason behind making this pattern change?

The reason for having two sections is that students spend a lot of time on one section and thereby lose out on other sections. By making it two sections, candidates will concentrate more or less on one section for a longer time.

And the reason for not allowing a candidate to go to the previous section after going on to the next is precisely the same thing. No point giving a time and section limit if we are going to allow the candidate to go from one section to another. He can concentrate on one section at one time.

What are the steps being taken to generate awareness about the new format?

The changes have been announced well in advance. Many national newspapers and domain specific websites have carried the news. Any active aspirant is unlikely to miss this communication.

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Our official website catiim.in also provides information about the changes.

Are there sample papers available for students online?

Yes, there is a sample paper on catiim.in website. However, it is illustrative and may not reflect the difficulty or specific type of questions. A 15-minute tutorial will be provided before the start of the test, and candidates are advised to go through that carefully before starting the main examination. The total duration will be two hours and 35 minutes including the tutorial. A practice test to provide candidates with a feel of the timed sections, as well as navigation and functionality of the actual test is available. Once again candidates are advised to go though them carefully to familiarise themselves with the screens, layout, and navigation. A candidate is advised to go through it carefully before starting the examination.

Any suggestions to people taking the CAT this year?

Candidates are advised to read the contents of catiim. in website. The site provides guidelines for registration, eligibility criteria, formats for certificates for different category of candidates etc. While registering for CAT2011, we advise you to take utmost care in filling in the data correctly and completely. But for the name, email address and a few fields, all other fields can be updated or modified until Sep 28, 2011.

Candidates should visit catiim.in website periodically and check for updates and announcements.

Aspirants should take CAT keeping their final goal in mind and after making long-term plans. A career decision is more important than just getting a degree. Think clearly about what the bigger plan is and then take CAT if needed. www.advancedge.com

FIRST STEP

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FIRST STEP Cover Story

To East or West?

The Destination Conundrum Today, a ‘wannabe MBA’ from India, who wants to study abroad, does not just scout through the list of top 50 US Business schools. Today’s MBA applicant is smart and understands the value of her degree. She understands that in today’s globalised world, USA is not the only destination on the education map. She also understands that besides the brand equity of the school there are various other factors that shall influence the course of her education and future career prospects. So welcome! The new age applicant; who closely studies the regions and countries from which she wishes to pursue her Business degrees along with its economic growth potential, its immigration policies, its standard of living and cultural acceptance before finalising on her final application list. Though the origins of the MBA degree are largely in the US, the degree itself has evolved over a period of time and taken on the characteristics of the country or the region from where the degree is taught.

Thus we have an ‘American MBA’, ‘A European MBA’ and an ‘Asian/Asia Pacific MBA’.

Gauri Puranik explores the differences between these three region specific MBAs.

T

he time factor Top B-schools like Harvard Business School, Tuck, Wharton, MIT Sloan and Stanford started with two year programmes in the US. Since they were the first movers, they set in a trend of the two year full time ‘Traditional MBA’ model.

Soon this model was replicated by schools in the US. The two year study format has its advantages. Firstly, students get one year of general MBA courses followed by the second year in which they can specialise in selected courses of their choice. Secondly, it helps students immerse completely in the programme and network better with the faculty, second year students, corporate and the alumni. And lastly it also helps students participate in special initiatives, study tours, etc. helping them gain more out of their MBA programme.

Most American B-schools still continue with their two year ‘Traditional MBA degrees’ though there are many schools that have also started alternative fast track or accelerated MBA programmes that can be completed in a year, e.g. Columbia GSB’s Accelerated MBA programme, Cornell Johnson’s Accelerated MBA programme.

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Advanc’edge MBA September 2011

European MBAs on the other hand are typically one year in duration. For e.g.

INSEAD France, IMD Switzerland and IESE Spain have MBA programmes anywhere between one year to 15 months. The curriculum between a one year and two year MBA is comparable.

This however, means that the one year MBA is intense and fast paced compared to the traditional MBA. The Asia Pacific region is gradually moving from the format of two year programmes to one year programmes. Most top schools in India (IIMs, FMS, MDI) and

Australia (AGSM) still follow the two year format. Schools in Singapore have however adopted the middle path and have programmes between 15 to 18 months. The length of the programme is an important consideration for many students. Says Nicholas De Lima, MBA 2010-12, Edith Cowan University “I wanted a two year MBA course. Some universities had courses which could be completed in a year to a year and a half. I thought these were too cramped up, which means too many exams in a short time and less time to reflect on

Oxford Said Business School www.advancedge.com

Cover Story FIRST STEP your learning. A couple of other factors were fees and living costs.”

While Nicholas thought that the two year course would give him depth in learning, Raja Debnath, MBA 2011, Oxford Said was looking at an MBA that would give him better knowledge in finance, primarily around corporate finance, macroeconomics and private equity, “That got me thinking of taking a one-year Finance MBA program. I wanted to get myself another marquee name on my résumé,” says Raja.

The cost factor American and European MBAs generally tend to be costlier than their Asia Pacific counterparts. This is predominantly due to the higher cost of living in the West. Asian schools have an advantage on this parameter.

Various MBA programmes in India, South East Asia and Australia attract students as they are a lot more affordable than Western MBAs without a compromise in the quality of the programme. Dipanjan Gupta, MBA 2012 Melbourne Business School says that an MBA from MBS ticked a lot of his preferred boxes “MBS has earned a good ranking for itself in almost every MBA ranking lists. The tuition fee was quite reasonable compared to the American peers Also Melbourne has turned out to be affordable when compared to the similarly ranked US or European Schools.”

Though available, financial aid in business education is less common as compared to other graduate programmes. However for students planning to study in Australia and Canada there is some respite. Both countries follow flexible work permit policies that allow international students to work off-campus for 20 hours per week. The amount earned from such jobs is enough to cover the living cost. Refer to table for a cost comparison between various regions.

The pedagogy Most American MBA programmes www.advancedge.com

follow the ‘case study’ pedagogy where students are divided into small groups called ‘learning cohorts’ and business concepts are taught through the discussion of case studies. In this pedagogy style the faculty acts more as a facilitator who elicits responses from the students at critical points and drives students to a solution. The European B-schools follow a mix of the case study and lecture style of teaching. Europe and UK also are pioneers in one year Masters in Management programmes that have lecture style pedagogy with a good amount of industry exposure.

Most Indian graduates or students with about one –two years work experience prefer this model and such ‘Taught Masters’ programmes in Management are much in demand amongst this student category.

Schools across the world are also trying to make their curriculum more ‘global’. European schools claim to have a more international curriculum, since the region is made of a several smaller countries. However there is no clear study to prove that the European B-schools have a more international curriculum as compared to European B-schools.

Since the world economic scale is now tipped towards the ‘East’, schools in Asia are most sought after.

Asian schools are making students understand the ‘Asian customer’. The continuous flow of FDI in India and China, and the potential of these two economies holds a lot of promise for MBA graduates. Asian schools offer a curriculum to MBA students that

will equip them for the ‘future’. Rituraj Singh who is pursuing his MBA from NUS Singapore says “Singapore has the added advantage of being the business hub of South East Asia. NUS borrows the best aspects of Western Education and fuses it with the Asian culture making it the best combination of the West and East. I also managed to get a scholarship that would waive half my tuition expenses.”

The student body This is where the European and the Asian B-schools have an upper hand.

In spite of consistent efforts on the part of American B-schools to increase their international student enrollment, the fact remains that only 30% of the students, on an average, at American B-schools come from outside the US. In a sharp contrast to this, more than 60% of the students at European B-schools are international. At London Business School and INSEAD, this percentage is almost 90% plus. Such a high percentage of international students translates into a better diversity mix.

The interactions between students are thus embedded with different cultural views that give the discussion a more ‘global’ appeal.

Also it is generally observed that students at European and UK B-schools have more average work experience than students from American B-schools. This is largely due to the fact that European MBA programmes are one year intensive programmes.

The Admissions Committee at European B-schools Advanc’edge MBA September 2011

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FIRST STEP Cover Story thus selects students with an average of 6 years of work experience. In the American B-schools, this statistic averages at about 4 years.

While international student body is one aspect, the culture on campus is also important. Though all top B-schools today have an open environment, American B-schools were the first schools to adopt this culture way back in the 60’s.Though exceptions remain, B-schools in Europe and Asia are adopting this culture, where faculty are addressed by their first names, and where students can study in a relaxed and transparent environment. “I had applied to all the top schools in the US, I chose Kellogg for its extremely collaborative environment and support structure in terms of learning, careers and potential to network.” says Anup Dhalwani who is doing his MBA from Kellogg School of Management, USA. The external factors The region’s economic growth, its safety quotient, employment prospects, standard of living and immigration policies have a lot of bearing on the student’s decision. For Raghuveer Reddy, who is currently pursuing his MBA from Rensselaer Polytechnic, the post-MBA job opportunities were an important factor “I was always looking for schools specifically in the US and near New York City. I was interested in pursuing finance as my career and New York City was the best place to learn about finance. So, I narrowed down my search to schools which were near New York.”

External factors like economic recession, terrorism, internal unrest etc, do affect ‘student sentiment’.

Australia experienced a 50% drop in its international student visa applicantions after a spate of attacks on Indian students in Australia.

American B-schools faced a similar situation after the US followed a strict visa screening policy post 9/11.

The economic recession in the US and Europe affected the applications

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at B-schools in both these regions Raja Debnath, MBA 2011, Oxford Said says “With the 2008 crisis, the market was very slow and I did not expect the market to move too much till 2010. So I thought that was the best time to take a break, gain the knowledge. But I decided to head to UK over the US.” During this period an increasing number of students started considering Asian B-schools.

Agin Chackacherry, MBA 2011 Asian Institute of Management gives his viewpoint “It was an easy choice for me to choose an Asian school over a European or US school because I felt that I will have an accelerated growth being in Asia than in any other part of the world. Another reason for choosing Asia was that the Return on Investment

(ROI) is higher from an Asian school considering that in most schools in Asia you will spend lesser in living expenses than at a European school with similar academic standards. The only plus point in the case of going for a European or US school is that the salaries that you will get {if you are lucky enough to get a job immediately on graduation) will be higher than the Asian salaries.

However, the living expenses would be equally higher and I have a feeling, learning from experiences of my friends that in Purchasing Power Parity (PPP) terms you earn almost the same on an average. Any small differences would fade away in the long term if you do well in Asia.”

Accreditation There are three prominent private accreditation bodies viz. AACSB

(Association to Advance Collegiate Schools of Business), AMBA (Association of MBAs) and EFMD EQUIS (European Foundation for Management Development). Most European schools are AMBA and EQUIS certified while most American B-schools are accredited by AACSB. Mark Stoddard, the Accreditation Projects Manager at AMBA gives an explanation about this phenomenon.

“There are a number of reasons why few US business schools have the AMBA accreditation . A key issue is that the Association firmly believes that the MBA is a fully post-experience as well as postgraduate programme, and as such we expect that all students have a minimum of three years relevant work experience before embarking on an MBA. This is not the case on many full time US MBA programmes.

Another issue is that the majority of US schools do not actively recruit in the international market, so there is little market advantage in applying for an international accreditation scheme.

The US accreditation organisation, AACSB, is dominant in that market and is therefore the primary accreditation relevant for domestic students.”

Drawing form the above, prominent B-schools in Asia have also been accredited by the AMBA and EQUIS (For e.g IIM Kozikode, S. P Jain, and MDI Gurgoan have an AMBA accreditation whereas CEIBS has an EQUIS accreditation). There are a vast array of accreditation bodies; national, regional, and international. Potential students need to be clear about the value and status of each accreditation organisation before using this as a key indicator of quality for the programmes they choose to study.

Though the MBA programmes within each region have their own advantages and disadvantages, the choice of which programme one should attend needs to be made after weighing a lot of quality factors. In the end, a student should choose a school which matches her wavelength. www.advancedge.com

FIRST STEP

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Advanc’edge MBA September 2011

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FIRST STEP Special Report

The GRE is Dead, Long Live the Revised GRE! Over the last few years, the GRE (Graduate Record Examination) has become an increasingly popular test amongst B-schools around the world. Currently more than 600+ MBA programmes, the world over accept GRE scores as a part of their admission process and this list will only keep expanding. ETS (Educational Testing Services), the educational body that conducts the GRE worldwide, believes that the new Revised GRE will give students a better testing experience. The test has especially been revised to test students on real life skills that are required in today’s graduate education. ETS is offering a 50% discount for students taking the test in August and September. For all the test takers who are apprehensive of the Revised GRE, Gauri Puranik explores the Revised GRE and speaks with David Payne, Vice President & COO Higher Education Division, ETS, to understand how best to approach the new GRE. The Revised Format that students can comprehend the and sentence completion questions.

Increase in the time limit, increase passage better. Another advantage is There is also more emphasis on in the number of questions in each the availability of an online calculator reading comprehension questions section and navigation of questions for students. The Revised GRE as such comprehension skills are, within a section are some of the stresses more on the concepts rather important in business education. The major changes in the Revised GRE than the calculations.

Revised GRE is thus able to gauge Format. Refer to Table 1 for the students on the basis of their skills to changes in the old and the new Changes in the Sections select important points, summarise format.

The Revised GRE emphasises more text, distinguish important points from Besides the structural changes in on cognition skills that help in decision minor points and structure text. the test format, the Revised GRE will making and analysis. Keeping this The new Quantitative section also have some added benefits compared in mind, questions like antonyms has questions with more than one to the old GRE. The greatest and analogies have been removed. correct answer option. There is also advantage of the current interface Instead of these there are new text a set of new numeric entry questions, is that unlike the earlier where students key in Table 1: Comparison between the GRE and Revised GRE version, students will the correct answers in a formats now be able to tag matrix or a box instead Section GRE (Old) Revised GRE questions so that they of marking answer Number of Time Number of Time can skip these and come options. In this revised Questions Limit Questions Limit back and answer them format, the emphasis Analytical 1 Issue 45 mins 1 Issue Task 30 mins later. While students is less on computation Writing Task are within the section and more on analysis Section 1 Argument 30 mins 1 Argument 30 mins they can also edit their and understanding of task Task answer options. This quantitative problems Verbal 30 30 mins 2 sections, 30 mins will give students better and application Reasoning 20 questions per flexibility in answering of elementary per section section questions as well as mathematical concepts Quantitative 28 45 mins 2 sections, 30 mins manage time to their of arithmetic, algebra, Reasoning 20 questions per advantage. For students geometry, probability per section section who found online and statistics to solve Unscored Varies Varies Varies Varies reading a cumbersome such problems. Refer to Research Varies Varies Varies Varies activity, the Revised table 2 for more details GRE offers an option of changes in the two Total Time 3 hours 3 hours Limit 45 mins of highlighting text so sections

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Special Report FIRST STEP Type of Question

Ability / Skills tested

GRE (old)

Revised GRE (new)

Verbal Section Analogies

Student’s ability to recognize the relationship between the words in a word pair and to recognize when two word pairs display parallel relationships.

X

Antonyms

Measure the strength of the student’s vocabulary and ability to reason from a given concept to its opposite.

X

Sentence Completion Ability to use a variety of cues provided by syntax and grammar to recognize the overall meaning of a sentence and analyze the relationships among the component parts of the sentence.

X

Text Completion

Ability to interpret, evaluate and reason. Contains a paragraph from which crucial words are omitted

X

Sentence Equivalence

Ability to reach a conclusion about how a passage should be completed on the basis of partial information. Consists of a single sentence with a single blank. Student has to find two choices (out of 6 choices) that lead to a complete, coherent sentence while producing sentences that mean the same thing.

X

Reading Comprehension

Measures student’s ability to read with understanding, insight and discrimination.

Quantitative Section Quantitative Comparison

Ability to reason about the relative sizes of two quantities or to perceive that enough information is not provided to make such a comparison.

Problem Solving – Single Choice

Ability to deduce correct answers based on understanding of mathematical, algebraic or geometric concepts

Problem Solving – Multiple Choice

Ability to deduce correct answers based on understanding of mathematical, algebraic or geometric concepts

X

Numeric Entry

Questions of this type ask students to enter the answer as an integer or a decimal in a single answer box or to enter it as a fraction in two separate boxes.

X

Data Interpretation

This tests the ability to analyse data based on data represented in the form of tables, charts and graphs.

Changes in Scoring The Revised GRE has a new scoring scale. As opposed to the old scale of 200-800 with a 10 point increment that existed earlier, the new scoring scale for both the Verbal and Quantitative sections is on a scale of 130-170 with a one point increment. The

Analytical Writing score continues to be the same i.e. in the range of 0-6 with a half point increment. The new one point increments are meant to bring more clarity and distinctness in student scores. With a one point increment, large score differences between two candidates will stand

The Revised GRE – Quick facts New Format Effective from 1 Aug 2011 Formats Paper Based and Computer Based Changes New type of questions, increased time limit.

User friendly design, with an option to skip, tag and review questions within a section.

Scores New scoring scale for each section is 130-170 with 1 point increment.

Fees $ 190 Rescheduling fee $50 Changing your test center $50 Additional Score Reports $23 (per school) Registration Online. Visit www.ets.org www.advancedge.com

out, giving schools a better clarity of the student’s performance as opposed to the earlier scoring which had large increments of 10 points.

Courtesy Corbis Images Advanc’edge MBA September 2011

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FIRST STEP Executive Suite

“The revised GRE measures the skills and attributes that graduates and B-schools value” ... says David Payne, Vice President & COO Higher Education Division, ETS. As Vice President & COO for the Higher Education Division, David Payne heads the GRE® program, as well as higher education outcomes assessments. Payne works closely with the GRE Board, graduate education organizations and colleges, universities and public education systems.

In an interview with Gauri Puranik, he speaks about the changes in the Revised GRE. What was the logic behind introducing the new GRE Revised General Test? Was the change, primarily to adapt the test to what B-schools expect from aptitude tests?

For many students, taking the test that can help pave the way to graduate and business school is a big step. With that in mind, ETS has designed the GRE® revised General Test to be friendlier, more flexible and more focused on the skills the student needs for graduate and business school. Test takers will find new types of questions. More real-life scenarios that mirror the kind of thinking they’ll do in graduate or business school. And a friendlier, more flexible test design that gives them the freedom to use more of their own test-taking style and strategies. There’s even an on-screen calculator for help with the Quantitative Reasoning section.

How will the nature of questions in the Verbal and the Quantitative section change as compared to the earlier GRE? There are new types of questions on the GRE revised General Test that better reflect the kind of thinking students will do in graduate or business school programs. In the Verbal Reasoning section, antonyms and analogies have been removed from the test, so test takers are no longer tested on vocabulary out of context. New types of questions have also been added to test a person’s ability to interpret, evaluate and reason from what they’ve read. In the Quantitative Reasoning section, more focus has been placed on data interpretation and real-life scenarios, with multiple-choice and numeric entry answers. Test takers will also be able to use an onscreen calculator to reduce the emphasis on computation.

In the Analytical Writing section, they’ll be given one topic to complete an essay task about, rather than a choice of topics.

Tasks are more specific, to ensure the test taker can integrate critical thinking and analytical writing by fully addressing the tasks presented.

What attributes of the student does the test seek to measure from the Revised GRE test?

The GRE revised General Test measures the skills and

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Advanc’edge MBA September 2011

attributes graduate and business schools value: verbal reasoning, quantitative reasoning, critical thinking and analytical writing. For example, the Verbal Reasoning section measures a test taker’s ability to analyze and draw conclusions from discourse, understand multiple levels of meaning, select important points and understand the meanings of sentences and entire texts. The Quantitative Reasoning section measures a person’s ability to interpret and analyze quantitative information and use mathematical skills such as arithmetic, algebra, geometry, probability and statistics to solve problems. The Analytical Writing section continues to measure the test taker’s ability to sustain a wellfocused, coherent discussion, articulate complex ideas clearly and effectively, support their ideas with relevant examples and examine claims and accompanying evidence.

The new test format will allow the use of online calculators. Will this make the Quantitative section a lot easy to handle?

We’ve included an on-screen calculator for use in the Quantitative Reasoning section to reduce the emphasis on computation and to focus more attention on reasoning skills.

The calculator will have four functions (addition, subtraction, multiplication and division) and a square root. For paperbased tests, calculators will be provided at the test center for use during the test.

Briefly tell us about the new scoring scale and its advantages.

Since there are substantial changes to the Verbal and Quantitative Reasoning measures, the score scales were changed in these sections. The Analytical Writing score level will remain the same. Verbal Reasoning scores will be reported on a new 130 – 170 score scale, in 1-point increments (versus 200 – 800 in 10-point increments). Quantitative Reasoning scores will be reported on a new 130 – 170 score scale, in 1-point increments (versus 200 – 800 in 10-point increments).

Analytical Writing scores will continue to be reported on the same 0 – 6 score level, in half-point increments. www.advancedge.com

In Focus CAREERS WATCH

MBA for BA graduates Arts graduates pursue a variety of careers. Some pursue specialised graduate education before entering a career while some enter the job market after completing the BA degree.

And yes, you are also eligible for an MBA course after completing your Arts Graduate Degree. In fact, some of the MBA programmes are supplemented by a careful selection of general education and elective courses, which provides a broadly valuable mix of skills, knowledge, and perspectives to begin a career. Sarita Kutty delves deeper into the specialised programmes and the career opportunities that exist for an MBA-BA combination.

A

careful look at the student profiles across B-school batches over the years indicate that BA graduates only constitute about 3 to 4 percent of a batch. The batches of reputed B-schools are strongly dominated by engineers. The reason for such a low representation by BA graduates is attributed to the fact that BA graduates are not widely exposed to how an MBA can augment their career and how relevant an MBA is, to their basic area of graduation. In addition very few actually apply to management schools and take the various entrance tests.

The 3 to 4% BAs who actually made it to B schools are today in top rung positions in corporates of various

Courtesy Corbis Images www.advancedge.com

industry such as Advertising, FMCG, Media, Publication Houses, and other sectors.

As far as specialisations taken up by BA graduates, it is generally felt that students with a BA in psychology or sociology are able to relate better to the HR specialisation subjects than their counterparts from other faculties of graduation. And there is a trend of such students pursuing MBA in HR. They could then pursue a career in Human Resources as employee/labor relations, personnel officer, human relations director in various industries.

Generally BA economics graduates take up a finance specialisation and then pursue a career in government agencies, business firms, non-profit

organisations as accounts managers, administrators in areas such as market research, advertising, sales etc. or a B A Literature is more skewed toward a career in ad agencies where they could put their language skills into practise through copy writing.

Specialisation If you are more or less decided on your area of specialisation select the institute based on which one offers the best program in your area of specialisation.

If not let us look at what are the specialisations that you could take up in an MBA program. Options are marketing, finance, HR, systems and operations. Specialisation should be chosen depending on your interests and capabilities, as well as the institute’s resources.

Marketing: It is the most popular area among students of manage¬ment. Four specific functions comprise this area: Sales & Distribution, Product/Brand Management, Advertising & Market Research.

The opportunities in Sales and Product Management are vast.

However, most organisations prefer their trainees to get sales experience before joining product management.

Advertising and Market research are service sector activities.

Finance: The program emphasises a common body of knowledge providing an overview of the various aspects of modern business management and decision-making, as well as the conceptual, analytical skills, and Advanc’edge MBA September 2011

15

CAREERS WATCH In Focus institutional knowledge necessary for a successful career in the field of finance.

The program provides preparation for careers in finance including, Banking, Financial analysis, Financial planning, Insurance, Financial management, Corporate Finance and International Finance.

Human Resources: There are three broad career opportunities in this area: Human Resources Development, Personnel Management, Industrial Relations.

An HRD executive is involved with activities like performance appraisal, employee counseling, employee training and employee motivation. His activities are directed towards the development of the people in his Organisation.

Personnel manager is involved in the activities like recruitment, job definition, and salary management and employee welfare. Most organisations, in recent times, differentiate between Personnel and HRD managers.

Industrial Relations focus on labour management.. Often students with a law background are preferred for this area.

Operations: Here, the focus is on the managerial implications of engineering problems. The specific skills required are behavioral, techniÂŹcal, and statistical. The career options are Productivity Improvement, Material Management, Quality Control, Supply Chain Management/Logistics, Inventory Control and Production Planning.

Preferred areas of specialisation for BA graduates Apart from the general management

programs, you as BA graduates could look at some specialised programmes that bear more relevance to your basic area of graduation.

These include programs such as l Public Relations l Advertising l Human Resource Management l Social Welfare l Fashion Public Relations Most organisations have public relations personnel whose job is to anticipate problems, handle complaints, deal with media, build the corporate image, and so on.

The functions of PR can be described as follows: Press Relations: One objective of the PR manager is to ensure that the company gets written about favourably in the press. For this, relations with media correspondents have to be maintained. They have to be provided with information and handouts.

Communications: Customers, suppliers, employees, dealers and others in contact with the company must know what it is doing or plans to do in the future. Misunderstandings may otherwise arise which may affect the business in the long run.

Lobbying: Effective PR can influence public policy. An important function of the PR professional will be to maintain close relations and convince influential people in various walks of life.

Counselling: Doubts have to be removed from the minds of people through meetings and counselling, which will help keep a direct contact

Courtesy Corbis Images

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Advanc’edge MBA September 2011

and clear rumours or misinterpretations which may have an adverse impact on the company.

One can pursue courses in this field from institutes such as Mudra Institute of Communications, Ahmedabad (MICA), Indian Institute of Mass Communication, Jawaharlal Nehru University (JNU), New Delhi and Mass Communication Research Centre, Jamia Millia Islamia, New Delhi. Some offer PR courses while others offer communication and journalism courses, which are very helpful for PR: Courses would prepare you for careers in advertising agencies, corporate houses, publications etc. Opportunities for placement in diverse fields of mass communication are available in publishing houses, radio and television companies, corporate world, entertainment industry, media industry, advertising agencies, public relations agencies, government organisations etc. As far as remuneration is concerned it varies from one area of mass communication to another. However in every area, it is much dependent on the size of the organisation, its location combined together with the level of responsibility and experience of the candidate.

Human Resource Management The HR Department is the first point of contact between a prospective employee and the Organisation. This itself speaks volumes about the role of HR in an organisation.

Key Focus Areas of HR Recruitment & Selection: You could look after recruitment in your company or you could pursue this avenue being part of an Executive Search Firm/Placement Agency like ABC Consultants, Personnel Search Services.

Industrial Relations: Looking into labour welfare & management leads to an IR specialisation. Today in manufacturing concerns with the increasing activity of their labour unions there is a dire need for an IR specialist skilled in labour management.

Training & Development: As part of the training team in your company you would be focusing on identification of training needs of employees, induction training, organising & conducting technical training & soft skills training. www.advancedge.com

CAREERS WATCH Organisation Restructuring & Change Management: This includes organisation development techniques like Management by Objectives, Team Building and Managing Change.

Designing new jobs as part of restructuring helps management evolve and change. Employee productivity is increased through teamwork interventions.

Compensation Management: Compensation Mgmt within an organisation includes developing the organisation compensation policies & structures and also benchmarking these with other companies in a similar industry.

You could pursue a degree or postgraduate diploma in HR from XLRI, TISS or SCMHRD Fashion Technology Fashion design refers to the design, manufacture and marketing of garments and textiles.

India’s textile history is long and illustrious. From silks and handlooms to exclusive embroidery and hand-spun khadi, the range and variety of textiles in the country is indeed vast. The areas of work include Designing This is the most important area of work in the fashion industry. This involves designing garments for different age groups and according to specific requirements (for instance, costumes for television, film etc).

The designer begins the designing process only after thorough market research, i.e., understanding the needs of the client/market in terms of functionality, budget etc. Single designer or a team could undertake the designing process. On completion of the designing, a presentation is made to the client and the production department.

The master design after changes becomes the basis for production in the manufacturing department/unit.

Market Research The global fashion market is extremely dynamic; hence, the need to constantly keep a tab on changing trends. Market research is crucial to manufacturing units, retail businesses and export houses. Pricing and product requirements are directly dependent on market research statistics.

Manufacturing www.advancedge.com

Manufacturing is an important area of work in the fashion industry. It includes Purchase of textiles and fabrics, Training, Scheduling, Pattern making, Finishing, Quality control The National Institute of Fashion Technology (NIFT) provides a common platform for fashion education, research and training. The employers of NIFT professionals in the past from domestic companies have been Globus, Pantaloon, leading buying offices like Gap, Li & Fung, many international companies like Benetton, J.C. Penney, have absorbed graduates.

Advertising Any big advertising agency would comprise of a number of operational departments like Client Servicing, Creative Department, Media Department, Production Department and Research Department. The functions involve: Client Servicing: The Client Servicing department is the link between the client and the agency.

Those in client servicing must therefore interact with clients, gather information, oversee research where necessary, gauge consumer attitudes and based on this, work along with the various departments of the agency to formulate the most appropriate and effective advertising strategy within the specified budget.

MBA graduates are preferred for posts in the client servicing department. At trainee level however, a BA degree in economics with statistics can be accommodated. A working knowledge of design, printing and video production is always an asset.

Media Planning/Research: Media Department is responsible for the planning, scheduling, booking and purchase of space and time (in newspapers, magazines, radio and TV, and outdoor hoardings). The media department must therefore devise the most effective use for an advertising budget to effectively and economically transmit a campaign message to the target audience. This department consists of Media Planners who decide the different media where the ads would be featured in order to get maximum viewership and Media Buyers who have to negotiate to buy space in the press, or time on electronic media at the best

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CAREERS WATCH In Focus rates for which they need to understand the buying as well as selling trends.

Creative Department: l Art Direction: The art director develops and recommends artistic strategy and rendition for client campaign, often presenting several for client approval generates creative content for both print and broadcast often works with copywriter as a team to brainstorm visual and verbal content. He oversees progression of campaign from rough sketches through final production l Copywriting: A copywriter is responsible for writing ad and promotional copy and developing concepts for campaigns and often need to work with the art director as a team to brainstorm visual and verbal content.

Employees in the copy-writing department are usually BA graduates with a good all round education and a flair for writing. A

general awareness of current affairs and social trends is necessary.

Command over more than one language is an advantage.

Creative talent is the main requirement of the art department.

Employees here are generally from art schools and design institutes. l Production: Artists and Layout workers create the visual impact of the ad by selecting photographs, drawing illustrations, choosing print size and type, and sketching scenes for commercials to go with the copy design packages and create logos, trademarks and symbols.

Production manager oversees the actual printing of ads, filming of commercials, or recording of radio spots.

You could pursue a postgraduate diploma in communications and advertising from MICA for a professional degree in advertising.

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Advanc’edge MBA September 2011

Social Welfare A social worker can get a good opening in UN and its various a g e n c i e s , National and Global NGOs. You could start your own NGO. Work in Hospitals, Social Welfare Agencies, Community and Development projects, Mental Hospitals, Drug and Physical rehabilitation centres etc. As a social worker you may also be absorbed in the private sector organisations dealing with labour and social welfare schemes.

In the government sector you may also work in a similar capacity to provide a better deal to the workers.

With proper

qualification and a motivation and interest towards well being of the society as a social worker you can pursue a very satisfying and fulfilling career.

Some institutes where you could pursue a course in social work are Tata Institute of Social Sciences and Delhi School of Social Work You will be offered employment opportunities in police, prisons, social welfare departments after a specialisation in Criminology and Correctional Administration Special and regular schools, mental health settings, child care services, rehabilitation centres, family counselling centres are areas where you can work after family and child welfare course.

You will get the opportunity of working in mental and community health settings and substance abuse prevention programmes, hospitals after pursuing a course in medical and psychiatric social work. Organisations like CARE – INDIA, CAPART and PRADAN come for campus recruitment.

However, to pursue an MBA in the top institutes you are required to take the CAT, which is conducted by the IIMs or a test specified by the particular institute.

Objective and purpose of selection tools adopted The basic selection tools that the IIMs and other institutes employ to select candidates each year are the written entrance test for basic elimination, followed by group discussion, personal interview and other forms of selection such as case study, essays, extempore, etc.

Essentially, B-schools through these selection tools look for the following characteristics in a candidate such as good past academic record – especially when the candidate is a fresher, work experience (always valued and becoming increasingly important at reputed schools), leadership potential – as demonstrated through sports, club or work experience, good interpersonal/ social skills, high motivation.

Increasingly, B-schools are looking to increase the diversity of their student bodies in terms of: gender – the ratio of women to men has improved in recent years, unusual career or life experiences, languages spoken and basic area of graduation. Although there is a trend of reputed B-schools having 70 to 80% of their students from engineering www.advancedge.com

CAREERS WATCH backgrounds, B-schools are always looking for some representation from faculties other than engineering; for example, BA, B Sc, B Com, B Arch, B Pharm, Doctors, Lawyers.

Employment opportunities BA graduates are often better placed in the job market because employers are looking for candidates who are flexible enough to perform a range of jobs.

This means that they place emphasis on qualities such as problem-solving capability, logical thinking, analytical and critical insight, communication skills, presence and personal impact, and team and leadership capacity.

A BA would have given you opportunities to develop characteristics that are sought by prospective employers such as: Imaginative intelligence: Being able to critically analyse work-related problems, to provide creative solutions and to engage in entrepreneurial thinking. Employers value this attribute because, from their perspective, it means that you are the kind of person that can be relied upon to make good judgements, understand job tasks and the goals of the organisation, improve efficiency in the job situation, be eager to acquire new skills, suggest new ways of doing things and, in a very real sense, add value to the organisation.

Effective communication skills: Being able to write and speak well and to convey new ideas and insights intelligibly and convincingly.

Knowledge and skills, however important they are in the workplace, do not by themselves guarantee job efficiency. Productivity losses can to a large extent be attributed to poor communication in the workplace.

The kind of communication skills, the students of Arts Faculty develop gives them the opportunity to further develop effective communication.

Interpersonal sensitivity: Being able to work with people, to tolerate cultural and other diversities in the work environment, and to contribute to an atmosphere of team spirit.

Employees rarely work in isolation in the workplace. To create and maintain job efficiency, employees are required to work in groups or teams.

The kind of interpersonal sensitivity you have a chance to develop in www.advancedge.com

small group classes allows you to be aware of diversity, to cope with interpersonal conflict and to promote good relationships that will assist in attaining team goals.

The various industries, sectors and profiles where BA + MBA graduates are recruited include: Content writing: The job profile includes creating advanced content for brochures, multi-media scripts, letters, POP, direct mailers, advertising, news letters, other types of collaterals and the web. The skills that an employer is looking for includes excellent written and oral communication ability with a good grounding in the IT domain with hands-on experience researching, developing and creating content for IT products. A BA/ MA in English supported with a professional qualification in Journalism, Communication Management with some experience as a writer is most likely to be given this job.

Advertising agency: In HTA, a leading advertising agency in India the job position at entry level for MBAs range from Media Planning, Media buying, Creative department, Account Planning, Account Management. At senior levels they require MBAs with specialisation in marketing. HTA recruits through placement consultants, campus recruitment and employee referrals. The agency selects management trainees through Group discussions wherein the candidates’ communication skills and creativity are tested and Creative Trainees (Art and Copy) have to clear the specially designed Thompson copy and art test inorder to be selected.

Human Resource Management in FMCG sector: A career in Corporate HR offers you a range of options. For instance, you could be in recruitment where you would be solely trusted with the task of hiring the right kind of people for the right kind of job. You could also be spearheading several new changes and initiatives throughout the company.

Additionally, you would also be in charge of management development, which encompasses processes, like appraisals, career and succession planning.

In short, MBAs with an Arts and Humanities background are currently employed in top positions of leading corporate houses.

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MBA BUZZ Special Report

MBA in CONSULTING Management consulting has come a long way since its origins, which can be traced back to the late 1800s. In spite of the financial crisis of 2008-09, this was one sector which maintained its position and hiring in the market and most importantly among young MBA graduates. The number of consulting firms today has grown several-fold and so also the opportunities in this profession. What does management consulting mean? To know more, read on...

Serena Kallian

M

management consulting essentially denotes an industry and a set of practices that help organizations by suggesting ways to improve their performance and sort out management issues. This is to put this vastly growing discipline under a generic definition.

Industry scenario To understand the current industry scenario, it is important to understand the evolution that this field has followed so far. To begin with, let’s take a stroll back in time to the year 1886.

According to various sources, this year was also the beginning of the first technical consulting firm started by and named after an MIT professor, Arthur D Little. The first firms were closely associated with research and technical knowledge. They took an analytical approach to solving problems and also gave ample importance to the manner in which the solutions and recommendations were communicated.

These early firms did not have the support of modern technology and computer based tools to compute or present results to clients.

However, in terms of ethics, thought leadership and accountability, they lead by example. The first modern day management consulting firm was established only in 1914 when Booz Allen Hamilton was founded. They served the industry and the government. The first

strategy and management company was McKinsey & company. As the number of organisations increased so did competition in the field. With the commercial use of computers the practices also started to diversify and became industry sector specific which later on became a challenge to the firms itself in terms of its own resources, data. So, the field saw a number of consolidations. The bigger players in the market were able to spread their wings far and wide and include various functional lines and geographic regions but the smaller firms who could not focus on expertise in any particular field either became ‘boutique’ firms specializing in strategy or were taken over by the bigger fish.

Early interventions by the government also proved a catalyst for the growth of these firms. They adopted the partnership model for further credibility.

Courtesy Corbis Images

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Advanc’edge MBA September 2011

MBA graduates started entering the consulting fray only by the 1960s in the US. All this seemed to have changed the way management practices were perceived till then.

Today, there are three main types of consulting firms. They are large, diversified organizations, mediumsized management consultancies or boutique firms. The latter have focused their consulting expertise on a particular industry, function, region or technology.

The United States was the birthplace of most of the large consulting firms while Western Europe also contributed to a few. Asia is an emerging market for global consulting firms. And it faces several challenges in terms of resource personnel. Where does India stand in all this?

According to an earlier study conducted by Assocham, the consulting sector in India is expected to grow at the rate of 30% every year.

Apart from the presence of large global consulting firms, the Indian markets also have a fair contribution coming from the national firms. These companies are known for their expertise and capabilities in civil engineering, telecom, power, metallurgy, chemical and computer software.

They are gaining popularity for their services in few other countries as well. However the biggest challenge for consulting firms today is finding qualified people.

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MBA BUZZ Kellogg business school, Stanford University, Duke University, University of Michigan, NYU Stern, Dartmouth, Cornell University and Carnegie Mellon.

In a two-year general MBA, the first year iss devoted to core topics such as Marketing, Finance, Personnel Management and Human Resources Management, Quantitative Methods, Operations and Behavioural Sciences.

In the second year, Corporate Strategy, Leadership, Business Policy & Strategy, Corporate Finance, Ethics, Managing New Ventures, Strategy and Environment, Multinational One of the largest integrated Management and New Product B-School campus with Development are important electives single programme focus for consulting.

Courtesy Corbis Images

Selecting consultants is challenging as individuals come with various educational backgrounds, skills and approaches to development. In order to attract better talent, companies have special student and internship programmes after which offers are made to capable candidates.

Whom is the programme targeted at?

It is rare to find a specialized MBA programme in consulting. A general MBA programme is what most aspirants wanting to pursue a career in consulting take up as a platform or a starting point. For many of the Indian pursuants, consulting begins at the B-school through the choice of consulting specific electives and participation in student-organized consulting clubs. They strengthen their candidature through projects and the internship.

So the programme is ideally targeted at a person who is either a fresher or one who has had some sort of experience working in IT, engineering, financial services organizations, etc.

The two-year general MBA programme is ideal for people who do not have a background in consulting and for people who wish to make a lateral transition in their career, needing to do a different functional role.

There have been instances where a participant who comes from a medical background opts to make a career in consulting and there are several such examples across B-schools. So, strictly speaking, it does not matter www.advancedge.com

what academic or work background one has prior to pursuing a career in consulting. However, having quality work background does add an edge during selection and recruitment since competition is stiff in this field.

Rising enrollment As mentioned earlier, there are no specialized programmes in consulting that are offered by most domestic and international schools. It is good to note that certain B-schools do tend to attract recruiters from consulting more than the others. The reasons for this could be varied. For instance, some management institutes may offer more of consulting specific electives in the second year or, in some cases allow students more projects or assignments with consulting firms through the industry-institute interface. However, most domestic B-schools do not want to appear to play favourites with any specific sector over the others.

Some of the domestic schools which do seem popular for consulting are Indian School of Business (ISB) Hyderabad, IIM Bangalore, IIM-A and SJMSOM. Among the international B-schools, there are a few schools where a good number of participants of management programmes opt for jobs in consulting and finance. Some of the following institutes are known for such trends: INSEAD, University of Chicago Graduate School of Business, Yale School of Management, Columbia Business School, Harvard Business school, Northwestern University’s

Penetrative academics of over

5000 hours. 24X7 curricular structure Career Opportunities The big - Every student gets to work upon pull in consulting is perceived to be thenearly 100 projects work and the pay. The work in consulting is said to be stimulating and A strategic pedagogical system the pay, ensures students individually excellent. Does this apply to everyone?

That may not be the case. interact with nearly 100 inspiring But let us first understand the different faculty - from academics and avenuesindustry that present themselves as opportunities. In consulting, there Multi-cultural residential student are two options: you can either be a body, active with over 12 Clubs and generalist or a specialist. The different opportunities to participate and types ofcompete in dozens of in-campus, consulting firms that exist in the industry today are as follows; inter b-school and industry events Corporate/operational strategy, and competitions process design, systems integration/ Highly respected in Indian technology consulting, systems & process management fraternity - networking outsourcing. Within the with CII. ASSOCHAM, FICCI, NHRD, greater scope of specialist consulting RAI, ISTD, IHRD etc fructified in Information Technology is among the conduct of International Seminars favourites today. Consulting firms and Research Projects. have diversified into a large number of sectors offering services to numerous AICTE Approved client organizations and businesses and so opportunities are limitless.

Most students without any prior work experience who take up offers with consulting firms enter either 2-Year, Full-time as interns or consultants.

After the Residential Program initial years, they are then assigned to more specialized areas within the firm. The organizational structure of a consulting firm depends on its size, resource, capability and profit. Larger consulting firms which are established in the industry usually have executive officers, mid-level managers and specialized departments. Smaller Bangalore : www.iba.ac.in strategy firms may consist of a lead E-mail: admissions@ibaintl.org or general partner with a group of consultants them.

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Advanc’edge MBA September 2011

MBA BUZZ Special Report McKinsey, Bain, BCG, Booz Allen Hamilton, Deloitte, Ernst & Young, KPMG, PriceWaterHouseCoopers, Accenture are some of the big names in the field of consulting who recruit in domestic B-schools on a regular basis.

Recruiters believe that there are certain abilities that they look for in a prospective employee; having an analytical mind being one. The candidate is also expected to be a great thinker with a passion for ideas and a penchant for problem-solving.

At the end of the day, consulting is a service rendered to a client and so, being a people’s person is important in this career.

leading sector was consulting at 32%.

The offers from the Consulting sector doubled as compared to the previous year. The consulting companies that recruited included A.T. Kearney Ltd,

Placement Trends 2010 saw the return of consulting roles in many domestic B-school campuses. Firms like Accenture, Courtesy Corbis Images McKinsey & company, BCG, KPMG, and Deloitte took on more than their fair share of MBA Accenture,The Boston Consulting group, graduates at the placements. Across KPMG, Arthur D Little Limited, McKinsey the IIMs, 20-26% of the students opted & Company, Booz & Company, Ernst for roles in the consulting sector. From & Young Pvt Ltd, Infosys Consulting, among the IITs, SJMSoM reported that Wipro Consulting and Tata Consultancy 26% of its students chose consulting. Services - Global Consulting Practice XLRI Jamshedpur was not far behind at At IIM B recruitments this year, 25% in 2010.

31% of the offers were accepted in the At the 2011 placements at The Indian consulting sector with Deloitte consulting School of Business Hyderabad, the and McKinsey & Co making the most

22

offers in this sector. IIM A also saw 31% of the offers from consulting firms. The largest number of offers was made by BCG followed by McKinsey & co. At IIM C, McKinsey & Co was one of the largest recruiters on campus.

24% of the total offers belonged to the consulting sector. 25 % of the students at XLRI took up offers from some of the big names in consulting. These included the Boston Consulting Group, Mckinsey & Co. Accenture Business Consulting, Tata Strategic Management Group, Ernst & Young, Mercer Consulting, Hewitt Associates, KPMG, Deloitte Consulting, Cognizant Business Consulting, Capgemini and Wipro Consulting. The roles offered were in Business Advisory, Strategy and Human Capital Advisory in various locations in India and abroad SJMSOM saw 27% of the batch taking up roles in consulting and some of the firms that made such offers included Ernst & Young, KPMG, PwC, Accenture, Deloitte, Capgemini Consulting, Avalon Consulting, Bristlecone, Cognizant and Global eProcure The profiles were offered in strategy consulting, supply chain consulting, strategy and business transformation, business consulting and IT strategy.

B-schools offering MBA in Consulting Pedagogy

Institute

Course

Curriculum

ISB

PGP, one year

Strategy & Leadership Major

IIM B

PGP 2 years

IIM C

PGDM 2 years

Classroom learning augmented through experiential learning projects, leadership development modules, industry interactions corporate strategy, Leadership, Project work, classBusiness policy & strategy, corpo- room learning, disrate finance, ethics, Managing New sertaton, intenship Ventures, Strategy and Environment, Multinational Management, New Product Development Competitive Strategy and Organizational Integration, Managing New Ventures, Leading the Family Business, Corporate Entrepreneurship, Managing Strategy Implemention and Business Transformation, Strategy Execution

Advanc’edge MBA September 2011

Recruiters

% in Consulting AT Kearney, Accenture, 32% BCG, Booz & co, Deloitte consulting, Ernst & Young Pvt Ltd,

31%

24%

www.advancedge.com

Special Report MBA BUZZ Institute

Course

Curriculum

Pedagogy

IIM A

PGP 2 years

Regular course, seminar course and projects

SJMSOM

Master of Management, 2 years

Business Intellectual Property, Business, Government and Law, Economics of Strategy, Family Business Dynamics, International Business Dispute Resolutions, Leadership, Vision, Meaning & Reality, Mergers, Acquisitions & Corporate Restructuring, Strategies and the Future Applied Industrial Organization, Aviation Business Strategies, Strategic Transformation, Economics of Regulation

IIMK

PGP 2 years

XLRI

FMS

Models and Frameworks of Strategic Analysis, Strategic Analysis of Joint Ventures and Alliances, Competitive Intelligence, Management of Technology and Innovation, Management of Service Organisations, Operations Strategy, Systems & Process of Strategy Implementation, Corporate Governance & Corporate Social Responsibility, Entrepreneurship and New Ventures Postgrad- Case Analysis and Report Writuate Pro- ing, Managerial Communication, gramme in Managerial Ethics, Social Research Personnel Methods, Analysis for Managerial ManageDecision Making, Corporate Image ment& Building, Emotional Intelligence and Industrial Managerial Effectiveness, Social Relations, Legislation for Indian Managers.

2 years Corporate Social and Environmental Responsibility as a Business Strategy, Strategic Management, Applied Quantum Innovations, Balanced Score Card, Building Learning Organisations, Business Networking, Competition and Globalisation, Designing Organisations for Uncertain Environment, Entrepreneurship and New Ventures, Entrepreneurship Planning and Development: with special reference to Tech-Entrepreneurs, International Relations and Management, Introduction to Social Entrepreneurship, Managing Private-Public Partnerships, Resource Based Strategy, Strategic Game Theory for Managers, Strategies of Co-operation, Sustainable Development and Corporate Environmental Management, Transformation for Sustainable Superior Performance MBA, 2 Functional Area Specialization elecyears tives (FE) and Sector Specialization Electives (SE)

www.advancedge.com

Recruiters

% in Consulting 31%

A mix of diverse teaching methods like case study, lecture and discussion, simulation games, collaborative and experiential learning lecture method and experimental learning methods such as case discussions, role plays, simulations, group discussions and project

Ernst & Young, KPMG, 27% PwC, Accenture, Deloitte, Capgemini Consulting, Avalon Consulting, Bristlecone, Cognizant and Global eProcure.

Mckinsey & Co, Ac- 24% centure Business Consulting, Deloitte, PricewaterhouseCoopers, Cognizant Business Consulting

Classroom learning combined with experential projects, industry interactions etc

Boston Consulting 25% Group, Mckinsey & Co. Accenture Business Consulting, Tata Strategic Management Group, Ernst & Young, Mercer Consulting, Hewitt Associates, KPMG, Deloitte Consulting, Cognizant Business Consulting, Capgemini and Wipro Consulting

seminar projects

courses,

19%

Advanc’edge MBA September 2011

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MBA BUZZ Student Silhouette

“MBA-Consulting offers an in-depth knowledge on identifying risks and analysing the best possible alternative” … says Kreisel D’Lima, a final year student of Institute of Management Technology, Dubai (IMT Dubai), pursuing her Masters in Business Administration (MBA) in Project Management. Prior to this, Kreisel completed computer science engineering from NIT Surat and worked for over a year as a Project Analyst at Maestros Mediline Systems Limited, Navi Mumbai. She also completed an internship with ICC GCA (International Cricket Council’s Global Cricket Academy) as part of her curriculum. She is currently interning with KPMG in Abu Dhabi in the Internal Audit Risk and Compliance Services (IARCS) department. Here’s Kreisel in an interview with Serena Kallian.

How did you come to choose IMT Dubai as your MBA destination? Which are some of your preferred areas of work in the future?

IMT Dubai is a premier institute in India. It is also one of the leading institutes for management programmes in the UAE. IMT Dubai provides good options for specializations and has excellent subjects that we could choose as options during our specialization. I also liked the curriculum pattern that focused on solving case studies, real time projects and hence, had a more practical approach to the program. The institute also has an outstanding record for placements. I would like to

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Advanc’edge MBA September 2011

work for a firm that specializes in areas related to project management, operations strategies, internal audits or supply chain management.

What are the topics or areas that are covered as part of consulting in the two years at the institute?

As a part of consulting, the institute focuses on case studies and thus helps us to critically think and analyze a given issue/ problems. Through this, we learn to identify risks, analyze the best possible alternative, derive conclusions and provide recommendations and feedbacks.

What skills are important to succeed in the field of management consulting?

I feel, it’s most important to be strong at critical analysis and trend analysis to come to conclusions for different issues. In-depth knowledge of the organization’s industry, internal audit standards and best practices, technical understanding, knowledge of implementing and improving processes in both financial and operational areas, strong communication and presentation skills are very essential to be successful in management consultancy.

As an intern, what is the kind of work you do at KPMG? Do you feel that MBA education is useful in your current job profile?

I have been involved with a project from its kick-off phase: identifying risks, testing, analyzing documents provided by the client, preparing testing documents and assisting the senior consultant in report preparation. MBA education has definitely helped me in my critical thinking and analysis. Through the innumerable presentations, projects and assignments that we undertake throughout our semester, MBA education moulds us in developing our presentation skills. Additionally, we develop our interpersonal skills through the interactions with various corporates and can even work under pressure by learning to cope with managing both academics and extracurricular activities. www.advancedge.com

MBA BUZZ

www.advancedge.com

Advanc’edge MBA September 2011

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MBA BUZZ Student Silhouette

“Time is the key to success while attempting CAT” Tell us about yourself. (educational background, extracurricular activities, your hobbies/interests, etc) I did a B.E. in electrical engineering from Shri Govindram Seksaria Institute of Technology and Science (SGSITS) Indore (1998) and M.Tech in energy engineering from NIT Bhopal (2001). I am basically from Madhya Pradesh, but now settled in Mumbai. My interests include painting, singing, acting, cooking and watching cookery shows on TV. Now I am trying my hands on sketching. I have been a mentor for CAT students for the last 7 years.

What led you to do an MBA when you were already at a matured stage in your career and were working as a senior content editor with TestFunda.com?

Truly speaking, it happened accidentally. I have taken CAT seven times as a part of my job, i.e. to be in touch with the pattern of the exam. This time, the IIMs actually called me and then I thought of joining the course considering it as a lifetime opportunity very few individuals get. Also I was sure of the return on investment i.e. learning new skills versus lost opportunity.

…says Dinesh Yadav, a secondyear PGP student at IIM-Bangalore.

He hails from Madhya Pradesh. He did his M.Tech in Energy Engineering from NIT Bhopal. His interests include painting, singing, acting, cooking and watching cookery shows on TV. In conversation with Reshma Majithia, he talks about what motivated him to be an entrepreneur and his decision to start a dabba service www.MumbaiTiffin.com

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Advanc’edge MBA September 2011

When you started preparing for CAT exam, can you tell us what was your situation Which were your strong areas and your weak areas? Above all, what strategies did you adopt for your preparation?

The first time I was preparing for CAT was in the year 2001.

At that time Quantitative Analysis, Data Interpretation and Logical Reasoning were my strong areas whereas Verbal was my weak area. Over a period of time, my Quantative Analysis, Data Interpretation and Logical Reasoning became very strong because I was teaching students these subjects. Hence, I started giving more time to the verbal section and cracking RC questions became easy.

On the day of the CAT exam, how did you strategise the entire test? Can you tell us something about that?

For CAT 2009, the first online test, I attempted the test on the first day, first slot. The anxiety over the pattern and modalities was very high. Out of 60 questions, I guessed solving around 50 questions with high accuracy must be enough to clear the cutoffs. I attempted to solve easier ones first. I had spent sufficient time reading RC passages to ensure accuracy. I generally do not follow any fixed strategy as far as the order of the section is concerned.

It is a favourable condition especially for online CAT, because we can save on time rather than waste time flipping through questions. Keeping a very close eye on time is the key to success. The decision about leaving a difficult question in between is one of the most important strategic decision to be taken during that pressure cooker condition.

www.advancedge.com

MBA BUZZ Tell us something about the experience at the IIMs for the GDs Interview.

Did you find any perceptible change in the way IIM Bangalore and other IIM interviews were conducted?

At the IIM Bangalore interview, the faculty made us very comfortable before the process. There was no GD; instead an essay to be written. During the interview the questions were very mature and related to my recent work. My IIMB interview was focused on cooking as my hobby, my latest job role and what I do after office hours. It was more of an interaction for knowing you as a person rather than a formal structured interview.

According to your experiences, tell us something about what the students should never do at GDs and Interviews.

I would say be cool and calm during the interview. A little nervousness is perfectly fine and it talks about your preparation but be natural, listen carefully and answer slowly and firmly. If you do not know the answer to some questions, say “I am afraid, I do not know the answer to this question” with the same confidence with which you would have given the right answer.

What are your long-term aspirations and how do you see the PGP degree from IIM-Bangalore helping you achieve the same?

I am interested in developing small enterprises in the areas of food, hospitality, dairy and agriculture. I also want to help my wife Rekha in her other venture - a day care and activity center for children.

The most important thing a PGP degree gives you is the confidence. It works as insurance while you are taking a risk of following an unconventional path. The tremendous amount of preparation you do to solve those strategy or operations cases will definitely improve your understanding of business in general.

What was the motivational factor to be an entrepreneur? How did the idea of starting a dabba service come about?

Entrepreneurship is not new to me, as I have started many small businesses in the past and profitably sold them like paying guest, spoken English and computer classes, coaching classes, cultivation and processing of medicinal plants, to name a few. Also during my tenure at jobs, I mostly worked with either startups or initial phases of developing a profit center.

The idea to start MumbaiTiffin.com was not very sudden, both I and my wife love cooking. We always wanted to do something in the food industry.

It was during my summer internship in Bangalore when I was in a hostel with no mess and missed homemade food. The food available was either very costly or not hygienic or not Indian. It was then that I realized the potential of running a dabba centre with home-cooked food. So to capitalize on this demand supply gap we started it as a pilot project from our home at Mira Road, Mumbai At present, how do you manage study and work?

I manage the strategy, marketing and online support from IIMB campus and my wife handles the operations at Mumbai. Here, most of the students prepare for the sector of their choice apart from regular studies. I cut down on that and work for my venture, maintain a website etc. Also, I save time by not preparing for final placements as I am thinking of opting out of placements.

What advice would you give to other young entrepreneurs and future MBA aspirants?

I am too small to give advice. After a loan of about 10 to 15 lakh for an MBA, many students do not want to take the risk of entrepreneurship. My advice for them is to start early while you are on campus. On campus, students can take the help from the incubation cells, faculties and fellow students to sharpen the business idea. You can apply and try the theories learnt in lectures in your venture and also contribute constructively during meaningful case discussions with practical, real life examples knowing ground reality. Starting early will help young entrepreneurs take the crucial decision about placements too. www.advancedge.com

Multi-dimensional training by eminent faculty ensures : Self Awareness & Development Personal Effectiveness & Personality Development Drive for Organisational Excellence Aspiration to constantly achieve Effective Leadership & Interpersonal Relationship Ability to Team building and Team Work Enhanced Managerial Competency Shrewd Entrepreneurial deftness An eye for Talent Management Penchant for Time Management Ability in persuasive communication Sensitivity to Analysis Multi-cultural exposure leading Global competencies Widened cultural dimensions to deftly handle International challenges

AICTE Approved

PGDM 2012-14

2-Year, Full-time Residential Program

INDUS BUSINESS ACADEMY

Bangalore : www.iba.ac.in E-mail: admissions@ibaintl.org Greater Noida : www.iba.edu.in E-mail: admissions@ibagreaternoida.org Advanc’edge MBA September 2011 27

MBA BUZZ

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Advanc’edge MBA September 2011

www.advancedge.com

MBA BUZZ

www.advancedge.com

Advanc’edge MBA September 2011

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MBA BUZZ Student Silhouette

“Vision comes with dedication in learning, but belief comes with confidence in your capabilities” …says Vijeth Shetty, an MBA in Strategic Marketing and Operations Management from ISB. He has also done his Mechanical Engineering from NIT Warangal. He has worked with Ashok Leyland (2nd largest Commercial Vehicle manufacturer in India) for about 3 years as Deputy Manager-Marketing. In conversation with Reshma Majithia, he talks of his decision to do an MBA from ISB. catch up with their friends at the Atrium, do their pre-reads for next day or head to Recreation Centre to play some sports.

ISB nights would either be punctuated with parties or study group meetings both of which would go on and on ending at about 4am. The time between 4 and 6am would usually be the time when ISB sleeps. At all other times you can always find a significant chunk doing something or the other. That’s how fast and hectic life is at ISB.

What led you to do an MBA and why did you choose ISB to pursue your MBA? I joined Ashok Leyland as Deputy Manager – Marketing immediately after completing my engineering studies.

While my graduate studies had equipped me with requisite technical know-how, there were several instances where I felt handicapped by my lack of knowledge-especially in areas of Planning, Economics & Finance. Also, when I looked at my senior management, I realised for a fact that this handicap would only grow worse and might be an impediment to my professional growth. This is what firmed my decision to do an MBA. ISB was a natural choice since I was an experienced professional. Through interaction with lots of people who have undergone the rigours of an MBA programme I found out that MBA was 50% classroom learning and 50% peer learning.

The first 50% was available in all top B-schools in India. The other 50% was significantly stronger in ISB by design owing to its entry criterion of minimum 2 year full-time work experience.

So ISB was a clear choice.

Tell us about a typical day at ISB. Life at ISB is like running on a superfast treadmill. There is no option to pause/stop on that run. Everyday at ISB was reflective of the same. MS Outlook calendars would be “housefull” for all time slots. On a typical day we would have about 4 hours of classes.

Mornings would start as early as 8am. Afternoons/ Evenings would usually be junta’s “me time” where they either

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Advanc’edge MBA September 2011

What difference in terms of skill sets have you observed in yourself post your MBA from ISB? Do you observe significant differences in the way you manage work now as compared to in the past?

Knowledge-wise I find myself significantly richer now. Skillset-wise I have been able to improve my analytical ability. I have also been able to add alot of perspective to my decisionmaking. Interacting with people from diverse backgrounds at ISB has taught me that I am also able to better understand the financial implications from every decision I make. I now use the frameworks taught to me at ISB in my everyday work which I feel has made me a wiser decision-maker.

What are your long-term aspirations and how do you see the ISB MBA degree helping you achieve the same?

The ultimate goal is to lead a conglomerate. That role requires three things: Vision, Belief and Knowledge. While vision comes with dedication in learning as you climb the ladder, belief comes with confidence in your capabilities. But these are only possible when you have the knowledge to build those capabilities and demonstrate them to climb the ladder.

That knowledge is where an ISB MBA degree comes into the picture. That’s what they mean when they say that their mission is to make you “Future Ready”.

What would you like to tell the MBA aspirants who yearn to be in your shoes?

Be open-minded, as not all scenarios are pleasant. Not all places you’ll be travelling have decent connectivity or those comfortable AC rooms. Complexion has to be sacrificed and occasionally, food too. But trust me at the end of the day the pay-offs make it worthwhile. You know you are ready for success if you have learnt to judge any given business in terms of how the money flows and what are the motivations of each player in the value chain. To sum it up I’ll reiterate a line Amir Khan uses in 3 Idiots: “Don’t run after success, run after capability. If you make yourself capable, success will follow you.” www.advancedge.com

Campus Watch MBA BUZZ

Praxis launches PGP in Business Analytics with its knowledge partners PwC and ICICI Bank Your love for numbers can add up to infinite career opportunities with this 1-year full-time programme. The last date of receipt of completed application forms is September 8, 2011.

Students will be shortlisted on the basis of an assessment test, followed by an interview with a panel comprising representation from Praxis, PwC and ICICI Bank.

Sarita Kutty

A

n organisation’s ability and agility to respond to changing market dynamics defines its future.

Making timely, informed and transparent decisions that reduce costs and drive better business propositions is what helps organisations differentiate themselves to customers, investors and regulators.

For businesses, such decisions are outcomes of application of predictive insights which translates into the deployment and constant usage of Analytics.

Business Analytics is used for strategic, operational and tactical decision making across industry

www.advancedge.com

verticals such as banking, financial services, telecom, manufacturing and retail. This has created immense career opportunities for individuals with an aptitude for quantitative analysis and formal training in business decision tools and techniques.

To respond to this growing global and domestic demand, Praxis Business School is pioneering an industry supported programme in Business Analytics. The B-school has collaborated intensively with its knowledge partners, PwC and ICICI Bank to put together a programme that is rigorous, effective and relevant.

PwC, one of the largest

professional services firms in the world, and ICICI Bank, the second largest bank in India, have extensive experience and expertise in the field of analytics. They recognise the dearth of trained resources and have decided to support this programme as they believe that this will help create a larger talent pool for this industry.

Programme Details Programme name: Post Graduate Programme (Full Time) in Business Analytics Programme structure: 9 months of classroom training and 3 months of industry internship. It allows

Advanc’edge MBA September 2011

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MBA BUZZ Campus Watch experiential learning management. This course through a combination of aims at imparting the s alytic P in Business An classroom training and live following key skill sets: Praxis’ 1-year PG y: projects. l Technology Skills: th wi ld Who should appl er fie uates from any oth Course objective: The Thorough understanding . cts Engineers or Grad bje su the atistics as one of programme aims at of the relevant software Mathematics/ St equipping the students packages and the ability / y: .in pl ac How to ap http://praxis. to apply on-line at with the tools, techniques to extract and analyse ed ne tes ida nd Ca ss-analytics and skills to enable their data s: rm admissions/busine fo n -up applicatio led fil e th seamless absorption in l S t a t i s t i c a l of t ip Last date of rece the domain of Business Modeling and Analytical 11 20 8, September s: st and interview Analytics. More specifically, Skills: Familiarity with te en itt wr of t Commencemen the course will expose the the statistical tools and 11 20 , 10 September 11 20 er, mb student to the functions of: techniques and the pte Se mencement: Programme Com l The Data Modeler, who ability to create models ents: is has is equipped with the l U n d e r s t a n d i n g Campus Placem ogramme. Prax ry supported pr st tment ui cr re s statistical and quantitative of Business: Ability pu This is an indu m ca r fo s es oc rmal pr t en em ac put in place a fo pl tools to build computer to relate business ty ali to creating qu and is committed models. fundamentals to the opportunities. l The Business Analyst, who data analyzed in is equipped to interpret order to facilitate business problems, better business decisions retrieve the relevant data to This course will address the three l Communication and So ft Skills: address these problems, analyse pillars Ability to work in high-performance of business analytics: the results and communicate the technology, teams and present analyses quantitative tools same effectively. with clarity & techniques and business In this exclusive section, the top guns from PwC, ICICI Bank and Praxis Business School share their thoughts on the future of Analytics in the business world and the avenues it will open for the youth of India.

“This course attempts to blend the basics of business management with the requisite knowledge of data analytics” Prof Srinivas Govindrajan, Dean, Praxis Business School

Could you give us an overview of your PGP in Business Analytics?

The Post Graduate Programme in Business Analytics emerged after feedback from Analytics industry practitioners revealed the absence of a durable talent pipeline. The feedback was that students were either strong in maths/ statistics (the analytics part) and weak in the grasp of business operations (the business part) – which was typical of students with a strong quantitative background. Or the other way around – which was true of many pure MBA students.

This course attempts to bridge the gap in order to enable an industry ready Business Analytics professional.

This programme has put emphasis on balancing theory

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Advanc’edge MBA September 2011

with practical experience in its curriculum. Tell us how the curriculum is designed to help the students.

The curriculum – which attempts to blend the basics of business management with the requisite knowledge of data analytics – has emerged after considerable discussion with industry practitioners. The initial design was drafted by Aditya Sapru (when he was Partner and Managing Director of Frost & Sullivan India) and Abhinav Madan (who drew from his past experience in Genpact and HP). This was further refined after discussions with our knowledge partners – PwC and ICICI Bank.

Parts of the curriculum which pertain to the analytics side and are best taught by industry practitioners - will be handled by resource persons from PwC and ICICI Bank.

Live projects, which will run through the duration of the www.advancedge.com

Campus Watch MBA BUZZ course and a 3 month internship will enable adequate hands on experience.

For this course, what does Praxis look for in a candidate? What important factors do you consider during admission?

A good grounding in mathematics and statistics is important.

Hence, we are looking for Engineers or students who have studied Mathematics or Statistics at the Graduate level.

More importantly, the student should have high comfort levels with data, capacity to see patterns in data, clarity of communication and some understanding of what the Business Analytics industry is all about. These aspects will be tested in the written test and the personal interviews. The interviews will have representatives from PwC and ICICI Bank as well.

How important a factor, is work experience?

In an area like Business Analytics, where the discipline is reasonably nascent, a person with prior experience in Business Analytics will have a good idea of the career path and this will help as the candidate will know what to look for. Those with prior experience in other disciplines who want to make a move into Data Analytics after doing their homework will also have an advantage. Being a fresher is not a disadvantage – if they have some idea regarding the field of Business Analytics.

Tell us about the placement opportunities.

The request for designing such a course emerged from the Business Analytics industry – so there are huge opportunities.

Analytics has quickly moved from specific application areas such as Credit Card analysis to a much broader set of applications. These placement opportunities could be in the broad areas of financial services, retail, web and telecom.

What is different about your MBA programmes and your school’s approach to business education?

The team at Praxis consists of professionals who had put in considerable stints in the industry before coming to academics by choice. This shapes our approach (and distinctiveness) as we are always looking at what the industry needs and choosing to collaborate with them. The industry, in turn, is keen on collaborating with us as they find a set of senior faculty members who are ready to learn and teach what is wanted – not what they know. And that is a rarity these days.

Do you think that your collaboration with PwC and ICICI Bank will also include a collaboration in the near future at the MBA level?

We already have a collaboration with ICICI Bank in our regular programme for a concentration in Treasury & Risk. Students who meet certain norms go through a set of courses codesigned by ICICI Bank and Praxis.

We are in the midst of working out the contours of a collaboration with PwC – but it would be premature to discuss this till this is frozen.

As mentioned earlier, Praxis is industry facing and we will be having a lot of such collaborations.

What is your school doing to remain at the forefront of business and management thinking?

Praxis is just 4 years old and much of our energy has been directed towards building capacity for teaching – and our approach has been industry oriented. Our contribution to research is still in the nascent stages. That will change this year as ICICI Bank has endowed a Chair at Praxis Business School. This entails the development of research papers and cases in the broad area of financial services and, thanks to the support of ICICI Bank, we could be in a position to add to the body of knowledge.

“I believe that the area of business analytics will see significant growth in the years to come” Vyom Upadhyay, Head - Business Intelligence Unit, ICICI Bank

Praxis’ PGP in Business Analytics has placed emphasis on balancing theory with practical experience in its curriculum. Tell us how the curriculum is designed to help the students.

The thought around having live industry projects as a part of the curriculum is a good initiative. This will be helpful to put the coursework in the right perspective. The company internship www.advancedge.com

is also in the right direction. The value derived from the internship though, depends a lot on the student’s own initiative and drive.

Every business has its own style. How does the career advancement path look for an employee who has a PGP in Business Analytics?

In banking specifically, there are a number of opportunities Advanc’edge MBA September 2011

33

MBA BUZZ Campus Watch for candidates with background in business analytics. From starting off as a business analyst: defining, designing solutions to business problems to becoming a team lead, directing the work of a small team of analysts is the first transition. Post that, numerous opportunities exist to grow either functionally (getting expertise in specific analytics area – scoring, campaign management etc) or in the business verticals (credit cards, liabilities etc). Depending upon the candidate, this can be a very steep growth curve because the learning and exposure to all aspects of business that one gets is immense.

What are the ‘must haves’ in a candidate’s profile?

Quantitative skills are of course important. A bend of mind to solve problems, to analyze the problems to the smallest detail to articulate the solutions in a manner that makes sense to both senior management and to operational management is important. Since the implementation of solutions happens in consultation and collaboration with multiple teams, ability to operate well in teams is also important.

What do you think - will recruitment in the Business Analytics segment grow fast?

The amount of data around us is exploding. Mankind today stores around 1 Zettabyte of data (that is 1 billion terabytes).

Newer technologies are enabling capture and storage of data on more and more aspects of daily life (GPS, RFID are a

couple of examples) and creating entire businesses (Google, Facebook etc). The consumer economy in India is growing rapidly and so are the opportunities in the banking sector. I believe that the area of business analytics will see significant growth in the years to come.

What is a typical day in the life of an employee in the Business Analytics segment?

There is no such thing as a typical day. However, the range of things one definitely gets to work on is very vast. An analyst could be spending his time understanding the intricacies of a product line and be studying the new techniques available in data mining. There is a lot of hard work involved in getting to the right inferences from the data. It is also an iterative process, as you rarely get the complete answer in the first iteration.

The range of business problems solved keeps it exciting and makes for a steep learning curve.

Any advice for someone trying to get in?

Analytics is not just about data analysis- it is about understanding the business context, coming up with an analytics solution and understanding the technology which will be relevant for the implementation of this solution. A newcomer to the field should aim to learn and grow in all 3 of these areas.

“We will lend our expertise in the field of business analytics and information management to help shape the curriculum and potentially engage in academic dispensations” Soumen Mukerji, Associate Director - Consulting, PwC

Praxis is offering a unique PGP in Business Analytics.

According to you, how will this course help future managers?

Business Analytics as a discipline has seen enormous evolution in the last decade or so. Most of the Fortune listed organisations rely intensely on the power of information and analytics for business decision making.

The trend is catching up in India as well, as we believe in harnessing the multiple disparate databases for extracting information and using complex rules for making significant decisions. However, our current academic programmes do not necessarily prepare the future professionals with the skills and tools for participating in this process. This gets manifested in skills gap and significant front loaded training investments. The PGP course in Business Analytics should address this demand to a certain extent. It is a small start, but a significant leap in the industry-academia partnership efforts to bridge this gap.

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Advanc’edge MBA September 2011

Can you share some details about the partnership with Praxis?

PwC has offered to work with Praxis Business School as Knowledge partners for this programme. We will lend our expertise in the field of business analytics and information management to help shape the curriculum and potentially engage in academic dispensations.

What are your views on the current positioning of B-school education in India? What would be your advice to MBA aspirants?

The current B-school education programmes in India do not completely address the need for analytics as a discipline which is often bundled as a part of other associated courses. By crafting a focused curriculum in Analytics, we hope that the aspiring MBA students can get an option that was hitherto not available. That in itself is a big boost to build one’s career in a rapidly evolving and highly relevant function in the 21st century corporate world. www.advancedge.com

MBA BUZZ

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Advanc’edge MBA September 2011

37

MBA BUZZ

“It is vital that every aspirant has a clear reason to define what his/her motivation is for studying management” Tell our readers a bit about yourself.

I graduated from NITK Surathkal in 2010 with a B.Tech in E&C Engineering. My first attempt at the CAT and other management entrance exams was during my final year at NITK. In that attempt, I received a few IIM calls, but failed to convert any of them. After that, I worked for a year at an R&D firm in Bangalore. In my second attempt at the CAT, I was able to convert the call from IIM Ahmedabad. I am currently pursuing a PGDM at IIM Ahmedabad.

When and why did you choose to do an MBA? I chose to study management after attending an entrepreneurship awareness course held during my third year at college. I had always wanted to do something that would allow me to make a mark in life, and this workshop convinced me that starting my own company would allow me to do that. I realized, however, that just technical knowledge is not sufficient to create a successful company, so I decided to study management in order to pick up the business skills I need in order to succeed.

How did you balance your job responsibilities and CAT prep?

I was very fortunate to have a job where I was given IIM-Ahmedabad

…says Adoor Vikramaditya Rau, a B. Tech in Electronics and Communications Engineering from National Institute of Technology Karnataka. He has worked as a Software Engineer at National Instruments, Bangalore. In conversation with Reshma Majithia, he talks about his decision to do an MBA. 38

Advanc’edge MBA September 2011

www.advancedge.com

MBA BUZZ the freedom to decide my own timings. I was thus able to adjust my schedule to get around 1-2 hours per day to myself to prepare for the CAT, as well as for the interviews after I received the calls.

I also used to put in a lot of time over the weekends for preparation. In particular, I would write at least 2-3 mock papers per weekend. Learning from the mistakes of my first attempt, I also did not waste any time after the CAT, and began preparing for the interviews much before the calls were declared.

Do you believe that there is any one strategy that is bound to work for all aspirants?

I do not believe that there is one single strategy that will work for all candidates. It is essential that each aspirant come up with a strategy, covering CAT preparation, performance during the CAT, GD-PI preparation, and performance during the GD-PI, that is consistent with his/her own strengths and methods of preparation.

In my case, I found that regular practice and attempting a large number of mock exams proved very useful for the CAT. For the interviews, I found that reading the newspaper every day and generally tracking topics of current interest were extremely effective ways of preparation.

What was your general experience in the GD-PI rounds? Did the focus of the interview differ from one institute to another?

GD-PI rounds for the IIMs are extremely gruelling. The GD/Essay round

requires candidates to have a general awareness of current affairs, good communication skills and the ability to think quickly. For all these skills, practice is essential.

While the focus of the interview does vary slightly from institute to institute, most interviewers expect candidates to be thorough with both their past experiences and future plans. In particular, most candidates are required to have a good reason for studying management, and a good reason for choosing that institution.

They are also expected to have a firm grasp of the concepts in the field they graduated in. Finally, they are expected to be “connected” with the world, through an awareness of current affairs in both business and other spheres.

Finally, what would be your advice to those aspiring to get into the IIMs? It is vital that each aspirant have a clear reason to define what his/her motivation is for studying management. The reason should not tie into short term goals like salary or prestige, but must go well with the aspirant’s long term career plans. This is one of the most important steps in preparation, which most aspirants forget to prepare for.

It is an essential source of motivation for the aspirant, which allows him/her to focus on preparing for the exam. It is possible for any aspirant to secure a place at an IIM if this reason is clear, and sufficient preparation has been made for each stage of the entrance process.

IIM-Ahmedabad

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39

MBA BUZZ

“I wanted to rise to a managerial level and an MBA was a necessary prerequisite for this” …says Bikramjit Chaudhury, an MBA student at IIM-A. He has also done his engineering in Information Technology from Jadavpur University. His hobbies include playing computer games, watching movies and hanging out with friends. He is also a National champion in Karate. Bikramjit Chaudhury in an interview with Reshma Majithia….

Tell our readers a bit about yourself.

I have done my engineering in Information Technology from Jadavpur University, Kolkata and I am currently pursuing an MBA from Indian Institute of Management, Ahmedabad as a fresher. After completing my schooling from Mumbai and getting 93.4% in class X and 91.4% in class XII, I got a rank of 341 in West Bengal JEE and joined Jadavpur University. Throughout school and college I was involved in various extra-curricular activities. I was the head boy of my school for 2 consecutive years and I also organised events in college by being the gaming coordinator of our college techfest as well as the treasurer of our departmental reunion. I am also a black belt holder in karate and also a National Champion in karate. My hobbies include playing computer games, watching movies and hanging out with friends.

When and why did you choose to do an MBA? During my 2nd year in engineering I realized that I did not want to just contribute in the technical department of the company but gather knowledge so that I would have a holistic idea about the functioning of a company and contribute in a better way. I also wanted to rise to a managerial level and an MBA was a necessary prerequisite for this.

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Advanc’edge MBA September 2011

What were your weakest areas when you started preparing for CAT? How did you work on and around those?

Though I had no specific weak area my performance differed in each area with each SimCAT. I realised that after each SimCat I tended to concentrate on the section that I had performed badly in the previous SimCAT. As a result of this even though I improved on that section some other sections did not go well. Thus I tried to find the optimum duration that I should give to each section and also the order of the sections. This was identified only by giving a lot of mock exams and analysing each exam.

Do you believe that there is any one strategy that is bound to work for all aspirants?

I don’t think there is any one strategy that is bound to work for all aspirants. Each student will have a different learning method and he/she has to find out that for himself/herself. Thus only by giving mock tests one can find out his/her weak areas and can then start improving on them. Some common strategies like hard work and consistency always exist though.

What was your general experience in the GD-PI rounds? Did the focus of the interview differ from www.advancedge.com

MBA BUZZ one institute to another?

Of the GDs I faced I realized that it is very important to analyse the dynamics of the group in the 1st 1-2 minutes. If the group is very quiet then taking the initiative is important and trying to widen the horizon of the discussion so that more people participate. On the other hand if the group is very aggressive then it is wise to come up only a few times and give newer points related to the topic and not just reiterate what is already being spoken. Also if one can play the role of a leader by giving some structure to the gd can fetch one some brownie points. In case of PI it is important to have in depth knowledge about one’s hobbies, hometown and area of under-graduation. For freshers it is really important to sound knowledge about his/her undergraduate stream. Also one should know about the recent developments in the world especially pertaining to the business world, his/her areas of interest and again the stream of under-graduation.

Finally, what would be your advice to those who wish to get into an IIM? My advice to IIM aspirants would be to work smart and work consistently. One has to work smart and know his/her weak areas and improve upon them and not just work hard and solve infinite number of questions.

Analysing and improving upon one’s mistakes is very important for an exam like CAT. Consistency is also the key. One might feel depressed after the result of a SIMCAT but it is very important that one continues to prepare with the same motivation and vigour if not more. The other way round one must not get complacent after getting a good result in SIMCAT. One must also remember that cracking CAT is only the first step. Reading newspapers should be a regular habit even before taking CAT. It becomes very difficult to cope up with the world events if one postpones reading newspapers only after giving CAT. I would like to wish all you aspirants best of luck and hope to see some of them as my juniors.

IIM-Ahmedabad www.advancedge.com

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MBA BUZZ

“Be focused on what you actually want out of an MBA and why you want to do it” ...says Pooja Kalyanker, an IIM-L student, who has worked as a Chartered Accountant with Ernst & Young. Here’s Pooja Kalyanker in conversation with Reshma Majithia on why she decided to pursue an MBA.

Tell our readers a bit about yourself.

I am pursuing a PGDM from IIM Lucknow. Born & brought up in Mumbai, I have completed my graduation in commerce stream. Along with Graduation, I have completed my Chartered Accountancy & Company Secretary. Before coming to Lucknow, I was working with Ernst & Young in the Financial Services Department of Statutory Audit.

When and why did you choose to do an MBA? My short-term goal is to take up a position of responsibility in any organisation, but the role should be such that it helps me get a wider view of how a business functions. My ultimate goal is to become a part of the decision-making and strategic leadership team of my organisation.

The MBA decision came during my internship period at CA. Working with top executives & managers made me realize that an MBA programme is going to equip me with all the skills & concepts that I’ll need to apply in my job to reach that position.

What were your weakest areas when you started preparing for CAT? How did you work on and around those?

Well it was Quantitative Analysis. As I am not from an Engineering background, competing with people well versed in Quants was difficult. Fortunately for me, the people who mentored me at IMS explained Quants’ concepts in a very lucid language and made it very easy to understand & apply. Once I started studying for CAT, I focused a lot on solving Quants cases problems. I distributed my study schedule in a way that provided me with more time for Quants.

Studying for CAT after coming back from office was a big task. So I tried to maintain a fair balance by trying to regularly study Quants and keep other sections, Verbal and DI, during the weekends. Thanks to my hard work and the IMS classes I was associated with, that effort started

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to pay-off. Once I had the confidence that I could do well in Quants then it was just about doing my best on D- Day. What was your general experience in the GD-PI rounds? Did the focus of the interview differ from one institute to another?

At IIM L, we had to write an essay and were given ten minutes for that, followed by a GD for about 15 minutes.

The topic in my case was “If life is a competition, success is the final quest, and then victory is all that matters.” The Panelist noted down important points made by the Group.

The PI was quite long and unstructured. They asked me first about myself then why an MBA and followed by questions based on some things said by me in the GD. The later part of PI was on my work experience, issues in my sector etc.

At IIM I, we were asked to write two write - ups (instead of a GD), one of which was essay & other was summary.

The Interview was long & structured. They asked me first about myself then Why MBA and followed by questions related to my Work Ex. This was later followed by questions on my Academics and extra – curricular.

The processes in most of the other IIMs were more or less similar, with minute changes here and there.

Your advice to MBA aspirants who probably want to get into IIMs… Be focused on what you actually want out of an MBA and why you want to do it, because that determines whether this whole effort is worthwhile or worthless. Instead of just blind rigorous hard work, try to make the preparation more regular with an eye on your weak and strong areas.

I feel a strong inner motivation is very important and a belief that you deserve to be at an IIM. In the end, it is more about using common sense and having a simple and strategic approach to preparation than just concentrating on the tough areas. www.advancedge.com

MBA BUZZ

Do your MBA or MS Abroad.

Intakes open for 2012 It is said, “Experience is the best teacher", and studying abroad in a foreign location is an experience of a lifetime.

Benefits of studying abroad:

It can be an enriching and eye-opening experience, where learning goes beyond classroom walls.

Affordable & quality living in many countries Networking with International students & faculty An International degree on your resume Application-based learning Working closely on projects with the industry

Why Campus Point?

Campus Point is an authorised advisory to the largest number of top global Universities in the U.K., Singapore, USA, Canada, New Zealand, Germany and many other countries. It is backed by IMS Learning Resources that has been helping students gain admission to the best Universities around the globe.

“We believe that every student should aim for the best education, even if it means studying abroad.”

se erti lling p x E nse an ou n i c Germ ies for versit Uni

Pan-India presence U.K., U.S.A., Canada, Australia, New Zealand, Singapore , France Associated with over 500 Universities abroad offering varied programs

To ensure a hassle-free admission process, we will guide and motivate you at every step towards an International education. ¡Student Profiling and Career Counselling ¡Test Preparation

¡Application Services

¡Admission Consulting ¡Visa Consulting

¡Other Assistance

For more details / Personalized Counseling Contact : www.campuspoint.in OR info@campuspoint.in MUMBAI - Tardeo - Tel: 022 – 23521800/0674/65296859 | NEW DELHI – Connaught Place - Tel: 011 – 23359967/68 BANGALORE – Cunningham Road - Tel: 9591316161

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Advanc’edge MBA September 2011

43

MBA BUZZ Placement Report

Placement Trends 2011 Continued...

Name of the Institute

No. of Students

Participating companies

No of offers

Pre-Placement Offers (PPOs)

Salary Offered (Domestic) InternaAverage/ Median Highest Salary tional Companies Salary

Bharathidasan Institute of Management, Tiruchirappali

119

55 companies were keen to participate of which 36 companies made offers to students.

Offers per student 1:1

N.S.

Average Salary - Rs 8.79 Rs 10.76 lakh p.a. lakh p.a., Median Salary Rs 7.90 lakh p.a., Lowest Salary - Rs 6.00 lakh p.a.

Department of Management Studies, IIT Madras

65

30

70

8

Average Salary* - Rs 9.42 lakh p.a., Median Salary* - Rs 9.21 lakh p.a., Lowest Salary* - Rs 7.5 lakh p.a. (*Does not include bonus, special incentives, loans, commissions and unstated variables)

Rs 15.70 lakh p.a.* N.S. (*Does not include bonus, special incentives, loans, commissions and unstated variables)

Great Lakes Insti- 296 tute of Management, Chennai

125

498

Nil

Average - Rs 9.45 lakh p.a., Median -Rs 9.20 lakh p.a.

Rs 24 lakh p.a.

IFMR Chennai

109

26

Praxis Business School, Kolkata

27

Each 8 student got one offer, in some cases students got two offers 15 - 5 of these 27 _ companies were Multinational companies

N.S.

Nil

Average Salary - Rs 7.25 Rs 9.65 lakh p.a. lakh p.a, Lowest Salary Rs 4.50 lakh p.a.

5

Average Salary - Rs 4.75 Rs 7.09 lakh p.a lakh p.a.

_

Roles: For all the above schools, roles offered in different sectors were as follows Finance - Equity Research, Derivative Research, Investment Banking, Fixed Income securities, Derivative analysis,Wealth Manangement, Project Finance, Risk Management, Strategic Research and Intelligence, Mergers & Acquisitions,International Transfer Pricing, Private Banking, Retail Banking, Risk & Treasury Marketing - Marketing, Online Marketing, , Area Sales Manager, Business Development Manager, Research Manager, Relationship Manage, Industrial Marketing, Market Research, Sales & Strateg, FMCG, Consumer Products and B2B Sales & Marketing Consulting - Strategy & Operations and Corporate Advisory

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Placement Report MBA BUZZ Placement season at Indian B-schools have taken off with a big bang. We had brought you placement snapshots from some of the top campuses in the last issue of this magazine.

Here, we continue with the coverage...

International Placements N.S.

N.S.

Nil

Nil

_

Top Recruiters

Sectoral Breakup

Comments

BFSI - Bajaj Auto Finance Ltd., Citibank, Cognizant (UBS), CRISIL, EXIM Bank, HDFC Bank, HDFC Life, HDFC Ltd., ICRA, IDBI Bank, Irevna, JP Morgan Chase, SBI Bank, SBI Capital Markets, UCO Bank, Wealth Advisors India Ltd., FMCG - Asian Paints, CavinKare, Wipro Consumer Care, Consulting - Deloitte Touche Tohmastu, Feedback Consulting, iMacs, IT/ITES - Accenture, Google, HCL, iGate, Infosys, Ramco Systems, TCS eserve, Wipro Infotech, Manufacturing - Balmer Lawrie & Co. Ltd, UCAL Fuel Systems Ltd, Murugappa Groups, Others - IDFC, IMRB, Thomas Cook Finance - Citicorp, Cognizant Technology Solutions, Crisil, KPIT Cummins, Nomura, Consulting - Deloitte Consulting, Avalon Consulting, ICRA Management Consulting, Infosys, IT Systems & Analytics - Accenture, Cisco, Dell Global Analytics, HP Analytics, HP GBS, Standard Chartered, Marketing - CavinKare, KPIT Cummins, Nissan, Wipro, Operations - Citibank, Daimler, Procter & Gamble, Standard Chartered Operations, Welspun, BHEL and Shipping Corporation of India (SCI) Infosys, WIPRO, TCS, Cognizant, ZS Associates, Accenture

Finance - 36%, Marketing - 32%, New Recruiters - Google, CRISIL, Systems - 25%, Operations - 4%, Accenture, Murugappa Group, HR - 3% Wealth Advisors India, EXIM Bank, Citibank, HDFC Bank, IDFC, iGATE, Feedback Consulting

Finance and Financial Advisory - Deloitte Touche Tohmatsu, Kotak Securities, FMCG and Consumer Products - Titan Industries, Philips India, Mother Dairy, Data Analytics and Strategic Advisory - PricewaterhouseCoopers (PwC), Neumck Advisory, HP Analytcis (HP DSAS), Financial Regulatory Services - National Stock Exchange, Banking - ICICI Bank, HDFC Bank, Information Technology - IL&FS Technologies, Diversified Corporates - Anil Products, Logistics - Bertling Logistics India

Finance, Accounts and Financial _ Advisoy - 22%, FMCG and Consumer Goods Marketing - 22%, Banking & Financial Services Marketing 19%, Data Analysis & Strategic Advisory - 15%, B2B Marketing - 7%, Management Consulting, Financial Regulatory Services - 4%, Information Technology - Project Implementation - 11%

Consulting - 19%, Operations 19%, Systems - 16%, Analytics - 16%, Finance - 14%, Marketing 11%, HR - 5%

Compared to the previous year, the average salary offered saw an increase of 12.80% while the highest salary offered went up by 30.83%.

Major sectors - Consulting, Technol- 100% Placements year after year ogy and Sales & Marketing. Health- from its inception care, Infrastructure, Real Estate, Media, Travel, Education and Energy were some of the other sectors.

Infosys, CBC, Deloitte, Genpact, Mahindra Satyam, Banking, Manufacturing, IT, Accenture, SBI caps, Berger Paints, GAVS, Mphasis, Marketing, Microfinance, ERP/SAP, HDFC Bank, CAPGEMINI, UCAL Fuel systems, Ramco Advertising systems, A C Neilson, HCL, ITC Welcome group, FINO, L&T Finance, Bank of India, ICICI, Bank of America, TCS, 3i Infotech, IFMR Trust

HR - HR, Organizational Development, Trainnig & Development and Recruitment, HR Consultant Roles IT - Project Management, ERP Consulting, Business Analyst, Adwords Associate, Project Implementation, Business Analytics Other - Senior & Middle Management positions for IT solutions and mobilization profile, Logistics Management, Supply Chain Management, Procurement.

Disclaimer: Data is collated from the B School website, readers are advised to reconfirm and make appropriate enquiries from concerned institutes.

Compiled by : Priya Gokani www.advancedge.com

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FINANCIAL DYNAMICS

MBA Fellowships With MBA education becoming expensive, students need to find ways and means of financing their education. The burden of financing MBA education can be eased with the help of personal savings, private and federal loans, scholarships and fellowships. Today, most B-Schools offer fellowships to students. Fellowships are of two types: institutional or external. Institutional fellowships are provided by a specific university to a student who will study at that university and external fellowships are provided by foundations, corporates. Fellowships are awarded to student-based on merit, need or their course of study. Some fellowships cover full cost of attendance including tuition, living allowance, books and supplies, course materials, medical insurance, study trip and travel while others provide for partial tuition awards. In some cases, fellows need to complete internships for some months for which they will be paid competitive salary and standard benefits during the internship.

Priya Gokani

S

tudents need to complete internships of a few weeks or a few months. They will be normally paid a monthly stipend instead of being awarded the total amount of money at one time. After the completion of the internships students are provided with tuition cost or any additional award toward tuition, academic and living expenses. Some fellowships will provide for total or partial tuition awards for the first year students only and others provide awards for both

Name of the Institute Harvard Business School, Harvard University, USA

can be varied and depend upon the grant-giving organisation.

Table 1 provides a snapshot of MBA fellowships offered by some of the leading B-schools in the world. Some of the fellowships are offered by the B-school while others are offered by corporate houses or an external foundation to students taking admissions in these schools.

The number and amount of fellowship awards varies across each B-schools.

Table 1: MBA Fellowships Name of Award Amount Fellowship requirements and Fellowship Number of fellowships HBS Fellowship USD 25,000 per Awarded based on financial need.

Program: year Student academic or professional Awards Based performance/merit are not used in On Need financial aid decisions. The fellowship provided to to nearly 50% of the class.

The Robert S. Kaplan (MBA 1983) Life Sciences Fellowship

46

the years. Though both scholarships and fellowships provide financial support to students, there are some differences between the two.

Most of the fellowships are scholarships, but scholarships may not be fellowships. The difference is the degree of academic study.

Fellowships tend to pay for internships or fieldwork, so that students, usually at the graduate level, can enhance their training in their field of interest. There could be several other differences and

Advanc’edge MBA September 2011

USD 20,000

Website http://www.hbs.edu/ mba/admissions/ hbsfellowship.html

Credentials may include academic http://www.hbs.edu/ achievements, recognition from outside m b a / a d m i s s i o n s / organizations and professional accom- otherfellowships.html plishments. Preference to students who are planning careers in science-related businesses or organizations. The awards are given to 10 incoming MBA students for the first year only. www.advancedge.com

FINANCIAL DYNAMICS Name of the Institute

Stanford Graduate School of Business, Stanford University, USA

Wharton Business School, University of Pennsylvania, USA

www.advancedge.com

Name of Fellowship Horace W. Goldsmith Fellowship

Award Amount USD 10,000

"The Charles P. Bonini Partnership for Diversity Fellowship Program (P4D)

Fellows will complete internships during the summer between first and second year of the MBA Program.

Fellows are paid a competitive salary and standard benefits during the internship.

Upon enrollment at the GSB, fellows receive at least one year's full-tuition grant, with no obligation to return to the sponsoring company.

The Reliance Fellow will receive D h i r u b h a i the full cost of Fellowship attendance, including tuition, living allowance, books and supplies, course materials, medical insurance, study trip, and travel.

Joseph Wharton Variable amount Fellowships

Howard E. Mitchell Fellowships

Students will receive full tuition, engage in leadership programming, and join a large network of other Mitchell Fellows and alumni.

Fellowship requirements and Number of fellowships This fellowship is given in addition to any need-based fellowship awards and is available for first year only.

Recipients of this award have served in full-time leadership roles in the notfor-profit sector prior to enrolling at HBS and demonstrate a strong commitment to a career in the sector. The award is given to 7-10 students.

The completed MBA Program application and the P4D Essay must be submitted together prior to the appropriate application deadline. Candidates need to appear in the interview. Candidates who are selected for the final interviews but who are not chosen as Fellows will receive a cash award from the Corporate Partner to recognize your strong candidacy.

Website

Applicant must be citizen of India and must have completed (or are currently completing) University studies in India (if you received your education in a country other than India, you are not eligible to apply). They must have have little or no significant work experience outside of India and will be required to take the GMAT. All fellows must return to India within two years of graduation to work for a period of at least two years with an Indian organization. Upto five fellows will be selected based on its primary admission criteria: Intellectual vitality, Demonstrated leadership potential and Personal qualities and contributions.

Students with outstanding records of academic, personal, and professional achievements are awarded fellowships.

All admitted students are reviewed by the Fellowship Committee.

h t t p : / / w w w. g s b . stanford.edu/mba/ financial_aid/fellow_ scholarships.html#

Criteria for selection include academic achievement, compelling leadership, exceptional professional development, and unique personal qualities. All admitted students are reviewed by the Fellowship Committee.

http://www.wharton. upenn.edu/mba/ admissions/grantsand-fellowships.cfm

http://www.hbs.edu/ mba/admissions/ otherfellowships.html

h t t p : / / w w w. g s b . stanford.edu/mba/ financial_aid/fellow_ scholarships.html#

http://www.wharton. upenn.edu/mba/ admissions/grantsand-fellowships.cfm

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FINANCIAL DYNAMICS Name of the Institute

Name of Fellowship Emerging Economy Fellowships

Award Amount

Forté Fellowships

USD 20,000 for each year and number of other benefits that Forte Fellows receive.

48

Website http://www.wharton. upenn.edu/mba/ admissions/grantsand-fellowships.cfm

Forté Fellowships are awarded each year to outstanding female students who demonstrate exemplary leadership in one or more ways: academic leadership, team leadership, community leadership, creative leadership.

Full tuition, fees and Candidates should possess superior inliving expenses. telligence and academic excellence, but Additionally, fellows must also demonstrate leadership, citimay receive a zenship, integrity and honor. Applicants research stipend in must submit their application in Round each year of their 1 and they will be later on invited case MBA program. In discussion and individual interview. the first year, up to USD 3,000 will be awarded to defray the cost of the required laptop computer or to support another research-related activity. In the second year, up to USD 3,000 may be spent to fund a Global Business Experience or costs related to the fellow’s research project.

Fellow receives Applicants will be selected based on a full-tuition their potential to make a positive differscholarship for two ence throughout their careers. years and a USD 20,000 stipend each year.

http://www.wharton. upenn.edu/mba/ admissions/grantsand-fellowships.cfm

Forté Foundation Fellowship

USD 20,000 for each year and number of other benefits that Forte Fellows receive.

Applicants must have exhibited exemplary academic, team, community, and/ or creative leadership and are committed to advancing the interests of women in business.

h t t p : / / w w w. chicagobooth.edu/ fulltime/admissions/ scholarships/boothfellowships.aspx

The India Trust Fellowship

One-time tuition The fellowshiop is provided to students award of USD live and work in India and are commit10,000 ted to advancing the interests of women in business.The award recognizes students with outstanding leadership, academic and extracurricular achievements.Fellowships provided to two incoming students.

h t t p : / / w w w. chicagobooth.edu/ fulltime/admissions/ scholarships/boothfellowships.aspx

Darden School Darden of Business, Jefferson University of Fellowships Virginia, USA

University of Chicago Booth School of Business, USA

Variable amount

Fellowship requirements and Number of fellowships Criteria for selection of awards may include academic achievement, compelling leadership, exceptional professional development, and unique personal qualities. All admitted students are reviewed by the Fellowship Committee.

The Distinguished Fellows Program

Advanc’edge MBA September 2011

http://www.darden. virginia.edu/web/ MBA/FinancialAid/Scholarships/ J e f f e r s o n Fellowships/

h t t p : / / w w w. chicagobooth.edu/ fulltime/admissions/ scholarships/boothfellowships.aspx

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FINANCIAL DYNAMICS Name of the Institute

Name of Fellowship The James M. Kilts Marketing Fellowship

Award Amount

The Zonis Fellowship

USD 25,000

Teaching Fellow (TF) or Graduate Assistant (GA)

Receive up to USD 21,500 in total tuition remission in second year

Forté Foundation Fellowship

USD 20,000 for each year and number of other benefits that Forte Fellows receive.

Exceptional women candidates, who have been admitted, will be nominated for consideration for the Forté Fellowship by Stern.

Tepper School Forté of Business, Foundation Carnegie Fellowship Mellon University, USA

USD 20,000 for each year and number of other benefits that Forte Fellows receive.

All female admitted MBA Students are reviewed for the Forte Foundation fellowship. There are no additional application steps. Applicants are reviewed during the Admissions application process and notified of eligibility via the acceptance notification process.

MIT Sloan School of Management, USA

Ranging from USD Awards to admitted candidates of all citi5,000 to full tuition zenships and academic backgrounds.

All admitted candidates are considered for these fellowships. Fellowships are awarded to individuals who enhance the diversity of the MBA class.

MIT Sloan offers two Awarded to outstanding female candiForte Fellowships dates who demonstrate leadership in each year worth their community, academic institution, half tuition for two or place of work. years.

Additional USD 1,000 to USD 5,000 Forte awards are awarded depending upon additional funding.

Variable amount The MIT Sloan Social Impact Fellowship provides funding to a limited number of MBA students taking on important societal challenges during their summer internship period.

Variable amount MIT students who are developing their own non-profits or social enterprises may also apply for Fellowships to support them in this process.

NYU Stern School of Busines

Dean's Fellowships

Forté Foundation Fellowship

Sloan Social Impact Fellowships

MIT’s Public Service Center Fellowships

www.advancedge.com

USD 25,000 in tuition per year for two years.

Fellowship requirements and Number of fellowships Fellowships are awarded to students pursuing a career in marketing and who plan to concentrate in marketing management. Each year five to eight Marketing Fellowships are awarded to students.

The fellowship is offered to an international student from an emerging economy demonstrating outstanding leadership, academic, and extracurricular achievements.

Students must have completed at least 9 credits at Stern and be in good academic standing (GPA at least 3.0) to be eligible for a Teaching Fellowship or Graduate Assistantship.

Website h t t p : / / w w w. chicagobooth.edu/ fulltime/admissions/ scholarships/boothfellowships.aspx h t t p : / / w w w. chicagobooth.edu/ fulltime/admissions/ scholarships/boothfellowships.aspx h t t p : / / w w w. stern.nyu.edu/ AcademicPrograms/ F u l l T i m e / FinancialAid/index. htm#3 h t t p : / / w w w. stern.nyu.edu/ AcademicPrograms/ F u l l T i m e / FinancialAid/index. htm#1 http://tepper. cmu.edu/currentstudents/currentgraduate-students/ financial-aid/typesof-aid/incominginternationalstudent-fellowships/ index.aspx http://mitsloan. mit.edu/mba/ a d m i s s i o n s / fellowshipsscholarships.php http://mitsloan. mit.edu/mba/ a d m i s s i o n s / fellowshipsscholarships.php

http://mitsloan. mit.edu/mba/ a d m i s s i o n s / fellowshipsscholarships.php http://mitsloan. mit.edu/mba/ a d m i s s i o n s / fellowshipsscholarships.php

Advanc’edge MBA September 2011

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FINANCIAL DYNAMICS Name of the Institute INSEAD

Melbourne Business School, University of Melbourne, Australia

Name of Fellowship INSEAD Forte Foundation Fellowship

Award Amount USD 21,547

INSEAD Ryoichi USD 14,361 Sasakawa Young Leaders Fellowship Fund (Sylff) The Nobby USD 25,622 Clark Fellowship

The Helen Macpherson Smith Fellowship

USD 25,622

Fellowship requirements and Number of fellowships Candidates should exhibit exemplary leadership in one or more ways: academic leadership; team leadership; community leadership; creative leadership. In addition INSEAD will look for measurable academic and personal achievement as well as involvement in issues related to the advancement of women.Applicants need to submit an essay.

Candidates of any nationality who show strong leadership in a cross-cultural setting. Preference will be given to candidates who require financial assistance.

Applicants need to submit an essay.

N.A.

The fellowship is awarded each year to outstanding women who have demonstrated that they have the potential to reach senior levels in management or to create and run their own business.

Columbia Columbia Business Fellows School, Columbia University, USA

Rotman School of Management, University of Toronto, Canada London Business School, UK

50

Partial tuition award Students who have demonstrated the greatest potential to lead the world’s enterprises are selected. The recipients will have proven themselves to be innovators, leaders, and creative thinkers in their professional, academic, and extracurricular activities.

Board of Partial tuition award Incoming students who exhibit excepOverseers tional academic and professional promFellowship ise. The award given to to 1st year student only.

Meyer Feldberg Full tuition Students who have demonstrated exDistinguised and lifelong traordinary leadership potential, as well Fellowship membership in as academic excellence. Ambitious Program an elite group of and energetic, these entering students similarly driven will have a proven record of success in students, alumni, areas as diverse as entrepreneurship, and donors finance, military and social enterprise Fellowships Range from USD Fellowships are offered on the basis of 10,088 to full tuition. exceptional merit No separate scholarship application is required and students will be automatically considered.

Forté Foundation Fellowships

Advanc’edge MBA September 2011

Up to USD 32,260

Fellowships are offered to all successful female MBA applicants.

Candidates who apply in Stages 1, 2 or 3 and receive an offer for the class of MBA2013 will be automatically considered for these awards.

Website http://mba.insead. edu/schlmgmt/

http://mba.insead. edu/schlmgmt/

http://www.mbs.edu/ go/degree-programs/ mba-and-generalmanagementp r o g r a m s / full-time-mba/ scholarships-andprizes http://www.mbs.edu/ go/degree-programs/ mba-and-generalmanagementp r o g r a m s / full-time-mba/ scholarships-andprizes http://www4.gsb. columbia.edu/mba/ admissions/tuition/ fellowships

http://www4.gsb. columbia.edu/mba/ admissions/tuition/ fellowships http://www4.gsb. columbia.edu/mba/ admissions/tuition/ fellowships

h t t p : / / w w w. rotman.utoronto. ca/mba/financial. htm#scholarships

http://www.london. edu/programmes/ mba/scholarships. html

www.advancedge.com

FINANCIAL DYNAMICS Name of the Institute

Name of Fellowship

Award Amount

Fellowship requirements and Number of fellowships

Website

USD 5000 award is disbursed in the spring of the first year. Another USD 5,000 may be awarded in fall of the second year if student successfully completes an i n v e s t m e n t banking internship and remains in good standing, academically and professionally.

Candidates pursuing careers in investment banking..Students apply during fall of their first year in a competitive selection process.

http://mba.haas. b e r k e l e y. e d u / admissions/finaid/ scholarships.html

Bank of America Merrill Lynch will provide a paid summer internship (between the first and second year of the MBA program) in the Global Banking and Markets group.

Upon successful completion of internship and acceptance of a fulltime offer for 2013, the fellowship will cover USD 40,000 of total tuition and fees for the 2nd year of the recipient’s MBA program.

USD 30,000 for the academic year

A merit-based fellowship to African American/Black, Hispanic/Latino, Alaskan Native/American Indian and female students entering business school. Applicants need to submit an essay of 500 words or less describing your career goals and their relation to the Bank of America Merrill Lynch MBA Diversity Fellowship.

http://mba.haas. b e r k e l e y. e d u / Diversity MBA Fellowship

Student must be committed to returning to his/her country of origin after graduating and must not have engaged previously in graduate study at any other institution in the U.S.

Commonwealth Tuition fees and Scholarship and various expenses Fellowship Plan (CSFP

Commonwealth citizens and British protected persons permanently resident in any Commonwealth country other than the United Kingdom who are under 35 years of age.

http://mba.haas. b e r k e l e y. e d u / admissions/finaid/ O u t s i d e % 2 0 Scholarships%20 List%2011-12.pdf http://www.jbs.cam. ac.uk/mba/finance/ scholarships/index. html

Haas School of Investment Business, Banking University of Fellowship California, Berkeley, USA

Bank of America Merrill Lynch MBA Diversity Fellowship Program American Indian

Guru Gobind Singh Fellowship

University of Cambridge, Judge Business School, UK

As observed, several B-schools such as Harvard Business School, Stanford Business School, Wharton, Columbia etc provide fellowships to students applying for their MBA Programmes. For instance, Harvard Business School awards need-based fellowships to provide access to admitted students with limited financial resources. A Student’s academic or professional performance/merit is www.advancedge.com

not used in financial aid decisions.

The fellowships are because of the generous support of Harvard alumni and friends who share HBS’s commitment. Similarly, Stanford Graduate School of Business fellowships are available to all international applicants based on need and not merit. “Need” for fellowship purposes is defined as the school budget minus assets, income, contributions from parents,

friends and/or employers, and outside fellowships.

Wharton Business School and Columbia Business School provide full- and partial-tuition fellowships for a number of exceptional students. Criteria for selection of awards may include academic achievement, compelling leadership, exceptional professional development and unique personal qualities.

Advanc’edge MBA September 2011

51

FINANCIAL DYNAMICS In addition, many corporatesponsored fellowships which include recruitment opportunities for summer and future employment, are provided to students. Reliance Industries Limited has created the Reliance Dhirubhai Fellowship which is need based for Indian nationals, in obtaining an MBA at Stanford. Stanford may award upto five fellowships and within two years of completing their Stanford MBA studies, Reliance Dhirubhai Fellows are required to return to India for a period of at least two years employment in the public or private sector. Companies such as Bain & Company, Inc., Bank of America, Deutsche Bank, Ford Motor Company Fund, The Goldman Sachs Group, Inc., General Motors Foundation and many others are fellowship supporters of Wharton MBA fellowships.

Morgan Stanley MBA Fellowship provides a two-year academic scholarship and a paid summer internship in their Information Technology department the summer prior to graduation to qualified female students. Bank of America Merrill Lynch MBA Diversity Fellowship Programme will cover total tuition and fees for the first year, provide a paid summer internship (between the first and second year of the MBA programme) in the Global Banking and Markets group and post completion of Summer Associate

Courtesy Corbis Images

52

Advanc’edge MBA September 2011

Program internship and acceptance of a full-time offer for 2013. The fellowship will improve tuition and fees for the second year.

Applying for these Fellowships The application process for fellowships differs across the B-schools. In B-schools such as Wharton Business School, University of Chicago Booth School of Business, Columbia Business School, Rotman School of Management, there is no separate fellowship application. All admitted students are reviewed by the Fellowship Committee to identify and select the best recipients.

Fellowships such as The Reliance Dhirubhai Fellowship at Stanford Business School have a two stage application process - Stage 1 Complete the Reliance Dhirubhai Fellowship application and Stage 2: Reliance Dhirubhai Fellowship finalists complete the standard application process for the Stanford MBA Program. Applicants need to submit 250-word essay along with educational history and scores, resume, employment history and individual financial information. The Charles P. Bonini Partnership for Diversity Fellowship (P4D) applicant must apply in either Round 1 or Round 2. The completed MBA Programme application and the P4D Essay must be submitted together prior to the

appropriate application deadline.

Shortlisted applicants will be called for the interview.

Some of the key pointers for students – Check out the application process and deadlines, whether there is need for separate application, documents to be submitted along with application forms.

Other Fellowships The Little Family Foundation MBA Fellowship Award is offered by Junior Achievement the world’s largest organization dedicated to educating students. Applicants must plan to study for an MBA in a fulltime, one- or two-year programme at one of the following business schools. (Refer to lists on http:// w w w.ja.org /programs/programs _ schol_littl.shtml).

Complete the school’s admissions application stating intent to apply as a Little Family Fellow and submit two letters of recommendation: one verifying two years of work history and one from a JA staff professional verifying involvement in the programme and years of participation. The school will determine eligibility for the award. If application is accepted, the university will arrange funding details with the Little Family Foundation.

The Fulbright-Nehru-CII Fellowships for Leadership in Management are awarded to Indian business managers, whose employers would be willing to bear 50% of the total cost of the fellowship, to attend a speciallydesigned general management programme at the Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania for a period of ten weeks.

The official announcement for Fulbright-NehruCII Fellowships is likely be made in September 2011 and there may be changes and/or updates.

Students can access a wide range of fellowship options to finance their MBA degrees. www.advancedge.com

REGION FOCUS

B-schools in western India It will be interesting to know that some of the best known B-schools in the domestic arena are in the west of India. The academic pattern followed in these management institutes is more or less the same across India. So what makes all the difference in this case is the Industrial environment, the cost of living, opportunities in different programmes and employment that the west of India has to offer.

Serena Kallian

W

estern India is known to be highly industrialized with a large population living in the urban areas. Every year large numbers migrate to this part of the country in search of livelihood. It offers live case studies on civic and public policy issues through its constantly changing population and a case of wonder in its ability to absorb and sprout talent.

Benefits IIM A, IRMA, JBIMS, SP Jain, IIMI, MICA, TISS, NIRMA, SIBM, NITIE are a few names of the management institutes that stand tall in this region.

The west of India comprises states of Maharashtra, Goa, Gujarat and parts of Madhya Pradesh. Most of the management institutes in this region tend to be clustered in urban areas such as Mumbai, Pune and Ahmedabad. The west region is wellknown for its industrial belt and vast rural market which is now opening up for various investments. This provides for several opportunities in employment and entrepreneurship. According to

a 2006 report the western part of India generates around 20.34% of the national gross domestic product and 23% of the tax revenues. Most people in this region continue to depend on agriculture for employment but services is a growing sector in the region. It also has a large share in the GDP. The states of Maharashtra and Gujarat have had growth rates at 14.4 and 16.7 % respectively.

Another benefit is that of being able to study among the best names in the game. Many of these schools have a good network of alumni and illustrious corporate and non-corporate names.

Some of the prominent personalities whose names resonate from this region include Vinita Bali, Chanda Kochar, the Late CK Prahalad, Ajay Banga and K V Kamath. Apart from the good alumni networks and business interactions that these schools have to offer, an important benefit is the proximity to different industries in the region. This helps the institute in fostering better corporate relations, in turn helping students gain exposure

SP Jain Institute of Management and Research www.advancedge.com

through corporate visits, internships, projects, lectures by guest speakers, etc. For instance Gujarat is perceived as good grounds for opportunities in Oil and Gas, Pharmaceuticals and the power sectors. Mumbai is known as the financial capital of the country and it also houses several head offices and corporate houses from across sectors.

Pune has been heralded as the new IT destination what with new industrial havens being planned.

On a different note, studying in such location exposes you to a multicultural and multilingual environment enabling one to broaden one’s horizon and vision. It allows holistic development which is what management education is primarily about. Thus, ‘location’ does add its benefits when it comes to a management institute.

IIM A The Indian Institute of Management Ahmedabad which is among the first management institutes that the country has had was established on December 11, 1961. It has successfully completed

TISS Advanc’edge MBA September 2011

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REGION FOCUS management (PRM) is its flagship programme.

NITIE four decades of imparting management education and its alumni occupy some of the key positions in various renowned organizations both in India and abroad.

The two-year full-time Post-Graduate Programme in Management (PGP), rated as the toughest MBA programme in the world to get admission, is the flagship programme of IIMA. IIMA has collaborations with 45 reputed foreign business schools for Student Exchange Programmes. It is also making a concerted effort to sign MOUs with several other reputed American, European and East-Asian B-schools.

IIM A has also set a trend in placements by introducing the new cohort based system in recruitments, thus moving away from the earlier practiced day based system. The institute has also made significant contribution to management research.

IRMA The Institute of Rural Management Anand is a specialised management institute located in Gujarat and is among the first few management institutes in India. It was established in 1979, and is a pioneer academic institution to offer programmes in rural management education and research. IRMA‘s mission is to promote the sustainable, eco-friendly, and equitable socio-economic development of rural people through professional management. It was founded at the initiative of the National Dairy Development Board and the support of Government of India, Government of Gujarat and Swiss Development Co-operation. For the last 4 decades the institute has been working closely with various NGOs, co-operatives, the state and union government and various international organizations in the development and social sector.

The Postgraduate programme in rural

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Advanc’edge MBA September 2011

NITIE The National Institute of Industrial Engineering was set up in 1963 by the government of Indian and the ILO. The institute’s campus is nestled between Vihar and Powai lakes in Mumbai, Maharashtra.

NITIE is the only training institute that teaches materials management, work-studies, inventory control and shop floor management.

Its flagship management programme which is the Post graduate diploma in industrial management (PGDIM) was started in 1994. The PGDIM course admits students through the Common Admission Test (CAT) which is conducted by the IIMs. The initial course that was offered at the institute was the Post graduate diploma in Industrial engineering launched in 1971; GATE scores are used for this course. NITIE was ranked 6th in the Competition Success Review (CSR)/GHRDC rankings for B-schools in the year 2010.

MICA Mudra Institute of Communications Ahmedabad also known as MICA is a specialized institute located in the state of Gujarat in the city of Ahmedabad. MICA specializes in the field of communication, media and advertising. The courses that are relevant to management education aspirants are the Post graduate in Management Communications (PGDM-C) and the Fellow programme in management communications (FPM-C).

MICA is also well-known for its industry– institute interface. Through the platform of MICAMINDS a student consultancy arm and MLS (Mica lecture series) the students are provided with opportunities to connect, exchange and ideate with industry professionals.

IIT SJMSOM The Shailesh J Mehta School of Management, IIT Bombay is the only management institute by the IITs in the west of India. The school had its beginning in 1995 with their flagship two year programme, a Masters in Management. The other flagship programme includes the Doctoral programme in management. Keeping by its traditions the institute has opened its doors to professionals with a technological background and turned them into leaders of change.

The school has collaborations with many international schools for faculty and student exchange. These schools include Kellogg Graduate School of Management, University of Connecticut, Hoseo University, BaaN Institute etc.

The School enjoys the generous support of a number of leading industries and organizations including Ministry of HRD, ICICI, Hindustan Lever Ltd, Hindi Vidya Bhavan and Larsen & Toubro Ltd. JBIMS Jamnalal Bajaj Institute of Management Studies after more than four decades of imparting management education is today known to be among the top 10 management institutes in the country.

The institute was established in 1965.

The flagship programmes offered by the institute are the Masters in Management

MICA www.advancedge.com

REGION FOCUS Studies (MMS), the executive MBA (part time) and the special course for working executives.

JBIMS is known for its strong and illustrious alumni network.

Its close proximity to the financial hub of the city of Mumbai makes it a favourite with finance enthusiasts.

SIBM The Symbiosis Institute of Business Management (SIBM) has completed its 31st year since its inception in 1978. In 2002 SIBM became part of the Symbiosis International University.

The institute is known to be student centric since students are entrusted with resources and responsibilities early on.

The two-year MBA programme is the flagship course of the institute.

SPJIMR The SP Jain Institute of Management and Research is rated among the top 10 management institutes in the country. SPJIMR is located in Mumbai and was established in 1981 by Bharatiya Vidya Bhavan. SPJIMR is

www.advancedge.com

also known to have been the first to start a specialisation in Manufacturing and operations. They also offer a global MBA programme and an executive management programme at their campuses in Dubai and Singapore. Their flagship programmes include: Post graduate diploma in business management, post graduate diploma in manufacturing and operations management etc. The institute has collaborations with the University of Virginia Tech to offer a post graduate diploma programme in systems management and Masters in Information technology.

NMIMS Narsee Monjee Institute of Management Studies is located in Mumbai and was established in 1981. It is today one of the best colleges in Mumbai. It was conferred with the deemed university status in 2003. The institute has more than 9000 students spanning over 50 programs across 8 specialised schools.

NMIMS offers the flagship MBA programme and several specialized management programmes in capital markets, pharmaceutical management, family business, banking etc. NMIMS has linkages with Marseilles and ESSCA for the student and faculty exchange programmes. Students are admitted based on the NMIMS management aptitude test or the NMAT scores.

NMIMS also has a younger campus in Bengaluru.

NIRMA Institute of Management NIRMA University previously known as the Nirma Institute of Management located

Advanc’edge MBA September 2011

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REGION FOCUS in the city of Ahmedabad, Gujarat was established in 1996. Very quickly it has established a good repute among students of management. According to a 2003 survey by Outlook magazine the institute was ranked among the top 10 business schools established post 1990. The institute has also signed MoUs with international institutions for academic collaborations. These institutes include; University Utara, Malaysia, Hangyang University, Florida Atlantic University, Minnesota State University, Coggin College of Business, North Florida University etc The flagship programmes are the Master in Business Administration, the MBA in family business and entrepreneurship and the doctor of philosophy programme.

GIM The Goa Institute of Management is an autonomous business school located in the state of Goa. It was established in the year 1993. In a 2008 survey by Mint GIM was ranked 16th among the top private schools in the country. GIM was the brainchild of Fr. Romauld D Souza ex-Director of XLRI Jamshedpur and XIMB. The institute is now situated in a brand new campus in Sanquelim, Goa with its green and picturesque environs.

The institute has an ongoing student and faculty exchange programme and collaboration with the University of Antwerp. Other collaborations include with the Fachhochschule Ingolstadt, Germany and Universidade Catolica Portuguesa.

PUMBA The Department of Management Sciences, University of Pune also known as PUMBA was founded in the year 1971 in the city of Pune.

The institute has approximately 360 students who are selected through the centrailised admission process and the CET conducted by the state of Maharashtra. They also receive 30 odd foreign students from around the world each year. PUMBA is among the first institutes to offer a specialised fulltime

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Advanc’edge MBA September 2011

MBA programme in biotechnology.

They also offer a course called the MBA++ which was launched in the year 2007. The flagship programmes include the executive MBA and the PhD programme in management. The institute also has a well placed and growing alumni network.

Some of their major recruiters include; Adani group, Aviva Life Insurance, BASF, Bajaj Allianz, Bharat Forge, Biological Evans, Blue Star, Bombay Dyeing, Colgate Palmolive, Carl Zeiss, CRISIL, Dr. Morepen, Ernst & Young, Frost & Sullivan, Glenmark, HCL Technologies, HDFC, Hindustan Coca Cola, Honeywell,

ICICI, IFFCO, TOKIO, Leo Burnett, LG, Mafoi, Maharashtra Hybrid Seeds, Merck, Nicolas Piramal, Pall Life Sciences, Pfizer, Quantum Research, TCS, Wipro Biomed, Wockhardt, Way 2 wealth, Zydus Cadilla etc.

Types of courses, job opportunities The programmes offered at most of the management colleges in this region include the two-year fulltime PGP/PGDM or MMS, MBA or a master in management programme.

There are institutes which also offer sector based and specialized courses in management, NMIMS has programmes in Actuarial sciences, pharmaceutical management, banking, capital markets, etc. Institute of Rural Management Anand is another specialized management institute which offers programmes on rural management. This is a unique programme which dates back to the year 1979. IIM A, among the first management institutes in India, offers a programme in agribusiness management apart from its flagship

PGP programme. The executive programmes, essentially one year or in some cases part-time programmes, are very popular among working executives.

The growth of management institutes in western India has picked up pace over the last few years. This has necessitated expansion plans for many. Some of the management institutes in this region - SP Jain, IIM-I, NMIMS, SIBM - offer management programmes in India and abroad.

Since the region boasts of IIMs the test score accepted in this case would be the CAT which is conducted by the IIMs. The CAT score is also accepted at other non-IIM institutes.

Institutes like NMIMS and SIBM have their own entrance test the NMAT and the SNAP respectively.

Each institute has developed a unique selection process. Most of the institutes follow the GD/ PI process, while a few others like IIM A have written evaluation and a personal interview to select their students. SP Jain Institute of Management Research follows a group exercise as part of its selection process. JBIMS follows a centralized selection process conducted by the Maharashtra state government.

Each management institute has a specific focus area in popular perception. SP Jain is considered a favourite for marketing and sales.

JBIMS which is also a Mumbai-based institute, is popular for Finance, Marketing and Consulting. Possibly because both these colleges are in close proximity to big corporate names from the FMCG and since Mumbai is the financial capital of the country. So, being part of the right institute in the right place can be a good stepping stone to one’s dream career.

Most of the job opportunities in the western region of India belong to the services sector spanning banking and finance, FMCG, pharmaceuticals, construction, infrastructure, power, real estate, entertainment, media, advertising, telecommunications and consulting etc. www.advancedge.com

REGION FOCUS Table 1: Prominent schools in the region Institute

Programme, Duration Fees

Class Profile

Average Salary in INR na

IIM A, Ahmed- PGP 2 yrs, FPM, PGPabad ABM, PGPX (one year), PGP-PMP, Faculty Development Programme IRMA, Anand PRM(2 YRS), FPRM(3 yrs), CRM, Certficate programme in dairy management (1 yr)

INR 6.6 Lakhs PGP Batch for the first size 370, year Women (11%) INR 4.17 PRM batch Lakhs (2 yrs size 98, PRM) women(34%)

7.70 Lakh

National Institute of Industrial Engineering, Mumbai

INR 75,000 (PGDIE); INR 1 Lakh (PGDIM)

12.97(includes international offers)

Post Graduate Diploma in Industrial Engineering (PGDIE) 2 yrs, PGDIM (2 yrs), PGDISEM

Indian Institute of Management Indore, Indore

PGP(2 YRS), FPM(3-4 YRS), EPGP(1 yr), FPM (Industry) PGPMX in Mumbai (2 yr weekend programme), Five year integrated programme Mudra Institute Post Grdauate Programme of Communica- Diploma in Management tions Ahmed- (communications) PGDMC abad 2yrs

PGDIE batch size 90(Freshers 49%, Engg83%)

INR 12 Lakhs PGP batch (2 yrs PGP) size 450 (Engg 80%)

14.06 Lakhs

INR Lakhs

3.52 PGDMC (59% 7.5 engg, 40% lakhs(2010) (freshers), 28% (1-2 months work experience) IIT SJMSOM, Master of Management Pro- INR 8.98 Lakh Batch size 96 13.87 Lakhs Mumbai gramme (2 years), Doctoral (4 semesters) (29% freshers) programme

JBIMS, Mumbai

MMS (2 years), MFM (Part INR 1.005 time), MMM (part time) Lakh

Batch size 120 15.54 Lakhs (81% engg, 11% freshers

SIBM, Pune

MBA(2 Yrs), One year di- INR 3.9 ploma, Executive MBA Lakh(per year)

Batch size 180 10.67 Lakh

www.advancedge.com

Highest Major Recruiters Salary in INR na Goldman Sachs, Citi, JP Morgan, Morgan Stanley, ICICI, HSBC, BCG, P&G, McKinsey & co, Yes Bank 10.5Lakh Gujarat Co-operative Milk Marketing Federation(GCMMF), Mother dairy fruits and vegetable Ltd, NDDB Dairy services, FINO, NABARD, ICICI Bank, Tata steel CSR, Ernst & Young govt advisory group 19.5 Lakh Tata Motors, Schneider Electric, Tata Steel, Daimler and JSW, Amazon, Hindustan Unilever (HUL), Proctor and Gamble (P&G), Reckitt and Benkiser, ITC, Colgate Palmolive, Johnson and Johnson, Pricewaterhouse Coopers(PWC), Ernst and Young (E&Y), Bristlecone and Capgemini.

32 Lakh Procter & Gamble, Hindustan per annum Unilever, BCG, Deloitte, Goldman Sachs, Deutsche Bank, Standard Chartered, JP Morgan Chase, Edelweiss 18 lakhs (2010)

na

20.5 Lakhs Ernst & Young, KPMG, PwC, Accenture, Deloitte, Capgemini Consulting, Avalon Consulting, Bristlecone, Cognizant and Global eProcure, JP Morgan Chase, Citibank, Nomura, CRISIL, JM Financial, HSBC, ICICI, Yes Bank.

26 Lakhs ICICI Bank, P&G, Citibank, HSBC, Barclays Bank, Reserve Bank of India, Axis Bank, Yes Bank, JP Morgan Chase, Nomura, McKinsey, Oliver Wyman, Deloitte Consulting, PricewaterhouseCoopers, BTS (USA) 18.80 Lakh Accenture Services, Actis Technologies, Agro Tech Foods, Aircel, AkzoNobel India, Aon Hewitt, ArcelorMittal India, Asian Paints, Bajaj Auto, Bayer Healthcare, Bharti Airtel, Birla Sun Life Asset Management, Birlasoft (India), BMR Advisors, Darashaw & Co., Dell International Services India, Deloitte Consulting India, Advanc’edge MBA September 2011

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REGION FOCUS Institute

Programme, Duration Fees

Class Profile

Average Salary in INR

SPJAIN Institute of Management Research, Mumbai

PGDM (2YRS), PGPM (11 INR 4.1 mnths), Family Managed Lakh(per Business, PG EPM year)

Batch szie 176(41% women,84% Enggs,19% freshers

14.07 Lakhs

NM

MBA(core) 2 yrs, MBA fo- na Batch size 300 13.1 Lakhs cus programmes (Actuarial (MBA core) science, Pharmaceutical management, banking and capital markets) MBA (fulltime), MBA (part INR 2.8 Lakh Batch size 180 7.00 Lakhs time), MBA (Family busi- per annum ness and entrepreneurship), PhD, Executive Diploma,

NIRMA, Ahmedabad

GIM, Goa Institute of Management

PGDM (2 yrs), PGDM (part INR 5.15 time) Lakhs (all terms)

PUMBA, Pune MBA biotech (2 yrs), MBA++ INR 65,000 (2 yrs), Executive MBA, Ph.D

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Advanc’edge MBA September 2011

Highest Major Recruiters Salary in INR Deutsche Bank Operations Internati, Capgemini India, Castrol India, Cisco Systems (India), Citibank N. A., CocaCola India, Cognizant Technology Solutions India, Colgate-Palmolive, Ernst & Young, FINO, Future Group, GlaxoSmithKline Consumer Healthcare, Godfrey Phillips India, Godrej & Boyce Manufacturing, Godrej Industries, Goldman Sachs Services, HCL, HDFC, HSBC, ICICI Bank, KPMG, L&T, Mahindra & Mahindra, Microsoft, P&G, Ranbaxy, Reliance Power, Reliance Industries, Reckitt Benckiser 23 lakhs TAS, Microsoft, GE, Mahindra and Mahindra, Asian Paints, ColgatePalmolive, Dabur, Nestle, KPMG, Ernst and Young, PnG, HUL, GSK, Miebach Consulting, Citibank, BNP Paribas, Edelweiss na Hindustan Coca Cola Beverages (HCCB), ITC, L’Oreal, Marico and Wipro CCL

10 Lakhs

Batch size 230 8.82 Lakhs (74% engg, 27% freshers)

16 Lakhs

52% freshers, na 61% engineering

na

Daimler India Commercial Vehicles Ltd., HDFC Life Insurance, Bajaj Allianz Life Insurance, Banks Information Technology & Consultancy, Citibank, N.A., ICICI Bank Limited, HDFC Bank Limited, Bank of India, UCO Bank, IDBI Bank Limited, Infosys Technologies Ltd., Omnitech InfoSolutions Ltd, Tata Consultancy Services Ltd, TCS eServe Ltd, Consulting Engineering, Deloitte Consulting, GVK Power & Infrastructure, GMMCO, Adani group, IMRB, Ranbaxy Laboratories Ltd Johnson & Johnson Medical India, Tata Motors, Wipro, Tata Capita, Deloitte, JP Morgan Chase, J.P. Morgan (Global Finance), Citibank, Vodafone, The Nielsen Company, CRISIL, Hewlett Packard, Godrej & Boyce, Thomas Cook, Infosys Technologies, Telcon, IMRB International, Firstsource Solutions, eClerx Services Ltd, Star Den, HDFC Life, TATA AIG General Insurance, Goldman Sachs, Religare, Verity Knowledge Solutions (UBS) etc. na

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School Speak REGION FOCUS

“Industry-Institute interaction is very important in MBA education”

…says Dr C Gopalkrishnan, Director at the Institute of Management, NIRMA University, Ahmedabad. He is also a professor of Strategic Management & Entrepreneurship at the institute.

Dr Gopalkrishnan talks about what makes the institute location unique to an MBA participant and also shares his opinion on the current trends, in

an

exclusive

Serena Kallian.

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e-interview

with

What are some of the advantages of studying at the Institute of Management, Nirma University, especially owing to its unique location?

The location of the Institute in Ahmedabad provides great advantage in a number of different ways. Gujarat today is the fastest growing state in India, and there have been huge investments taking place in the industrial sector.

Ahmedabad is also known as the entrepreneurial capital of India. A very vibrant small-scale and mediumscale sector is another aspect of the industrial scenario of Ahmedabad. Ahmedabad has some of the large pharmaceutical organizations too. Some of the industry associations in Ahmedabad are very dynamic and provide opportunities through seminars and discussions from time to time. Ahmedabad Management Association is another highly energetic organization which provides interactive opportunities for students and management practioners.

Ahmedabad has also been an important educational hub in India. Some of the well known institutions such as the Indian Institute of Management, National Institute Advanc’edge MBA September 2011

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REGION FOCUS School Speak of Design, Centre for Environmental Education and the Centre for Environmental Planning & Technology, Physical Research Labratory, IPR, and ISRO are located in Ahmedabad, in addition to a few that have come up in the recent times.

Therefore, the students have tremendous opportunities to interact, share resources, and get exposed to the highly vibrant world of business, education, and research.

Do you foresee a change in the way management education will be imparted at the institute in a few years’ time? Your future plans for the institute?

We have in the recent times added a programme in Entrepreneurship and Family Business Management. The SME sector, though the largest industrial segment in the country has been under-managed and, therefore, needs greater focus. The recent changes in the environment have also necessitated greater student exposure to business in other countries. We have incorporated in our programme a foreign study tour. There has also been greater emphasis on Industry-Institute Interaction.

We have also a faculty committee working on a 5-year perspective plan for the Institute.

How important is the location of the institute when it comes to doing an MBA? Does it affect the opportunities in employment or projects that students take up?

Location does matter. For our students, there are immense opportunities to do project work in industries in and around Ahmedabad as part of every course, as Ahmedabad is a fast growing industrial centre. As we have students coming from all over the country seeking employment in the major cities after education, employment opportunities available all over the country are tapped. We do not want to focus on a particular region for employment.

How important is institute-industry interface for an MBA student and how is it encouraged here at the institute?

Industry-Institute interaction is very important in MBA

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education. We have, in addition to regular project work in different courses, Management Conclaves, HR Conclaves, Entrepreneurship Conclaves, CEO Lectures, and Institute Lectures are arranged on a regular basis for Industry Institute Interaction. Student Clubs also conduct special interactive sessions with the industry.

Further, the Institute has some very experienced visiting faculty who occupy very senior positions in the industry. We also have a unique course: a social project as part of the curriculum at the Institute.

Who, according to you, is an ideal candidate for an MBA? What do you look for in an applicant at NIRMA during the selection process?

A student who has good communication skills, both written and oral, and reasonable analytical skills would be ideal. If a student has some relevant work experience, it would help him learn better. Above all, what matters today is the attitude.

Could you tell us a little about the current placement trends at the institute?

Our placement record has been 100 per cent. The major employers are from IT, Pharmaceutical, Automobile, Banking & Finance, Insurance, Credit Rating, Market research, Manufacturing, Services, Consultancy and FMCG sector.

According to you, which are the upcoming areas of opportunity for management graduates?

As the above sectors are all growing sectors, we expect that the major sectors for employment in the coming years would remain the same. However, it is possible that opportunities in new sectors will open up.

Your words of advice to all MBA aspirants‌ Develop good communication skills, especially for idea communication. Excellent skills to manage inter-personal relations, willingness to perform multiple tasks and, more importantly, the right attitude are the essential requirements.

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Student Silhouette REGION FOCUS

“For a professional course like MBA, location has its advantages in terms of logistics and corporate support” Was joining PUMBA a conscious choice? What were your reasons to pick the institute?

Yes. Certainly it was a conscious choice to join PUMBA. I rated the college on four parameters: } Faculty support } College Brand: The MBA++ advantage } Placements and } Infrastructure support On an integrated comparative analysis, I found PUMBA at par with many top B-schools in the country. Placement scenario in the year 2009-10 was bleak throughout the country but it was very overwhelming to see corporates turning up in good numbers in the year 2010-11 and PUMBA achieving 100% placements last year. On the three other parameters, I am very confident PUMBA can out do most of the B-schools in the country.

…says Raunaq Dubey, a second year student of the MBA++ programme offered at the Department of Management Sciences, University of Pune also known as PUMBA in short. Raunaq has a background in business administration after having done a BBA with a major in Finance prior to joining PUMBA. He has also worked with CareerForum as a faculty member teaching students for competitive exams like CAT/ XAT/CET for a period of 26 months.

Here, he talks about his experience at PUMBA and his decision to do an MBA ++. Raunaq Dubey in an interview with Serena Kallian… www.advancedge.com

Tell us some of the benefits of studying here. Also tell us a little about MBA++.

PUMBA offers 360 degree benefits to the students through the best possible faculty support, syndicate activities, dedicated 7 students’ cell and certainly ROI (Return-on-investment).The students are given a very dynamic exposure through these 7 dedicated cells under different heads Alumni, Cultural, Entrepreneurship Development, Media, Placement, Seminar and the Systems Cell. As the joint undertakings stand a better chance when they benefit both sides, both the department and the students are benefited tremendously through these activities.

MBA++ offers dual specialization of which one is functional i.e. finance, marketing, human resources, operations and the other specialization is sectoral specialization including one of retail, engineering management, ITES, Banking & Insurance.

How was your selection process?

Selection Process was a centralised admission process, conducted by DTE, covering a 240 marks evaluation including 200 marks for the written test, 17 each for GD and PI and 6 marks for your past academic record and work experience.

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REGION FOCUS Student Silhouette Do you see yourself working in the same city?

Do you think location matters when it comes to pursuing an MBA? I believe every location has its own advantages and associated opportunities. On a personal level, there is no restraint about a specific location as far as working is concerned but yes for a professional course like MBA, location has its advantages in terms of logistics and corporate support. It is because Pune has this strong manufacturing and IT infrastructure at almost all exit points of the city, we have fabulous visiting faculty support and regular corporate interaction.

Anything you would like to tell future aspirants. How should they prepare themselves for the selection rounds, the campus life, the work in general etc?

200/240 evaluation marks are for the written exam.

Students should undertake a rigorous preparation in the areas of aptitude. And secondly, they should be more analytical and real in terms of their objectives in pursuing an MBA. It is good to consider an MBA as a means of developing your managerial abilities. Each one of us, has that private dream which when fulfilled,

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can be a great personal achievement and therefore an added strength to our economy and nation.

What has been your best experience that has happened to you at PUMBA? Though everyday is a great experience at PUMBA, I would rate working for the Entrepreneurship Development Cell as one of my best experiences, as through incubation activities I got tremendous exposure to the entrepreneurial opportunities and realities.

Also, working for the CSR of PUMBA, (teaching disabled soldiers pursuing their PG diploma) was a very satisfying experience.

Apart from academics what should one look forward to during the campus life at PUMBA? Around 411 acres of green university land, all sports and other facilities, table tennis along with mega events like Dhruv, National Seminar, Alumni chapter meets, Yukti and PUMBA premier cricket league are the highlights of the fun-filled learning atmosphere here. I also recommend Sam’s special chai to all the visitors.

PUMBA Campus

PUMBA Campus

PUMBA Campus

PUMBA Campus

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Brand Wagon CORPORATE WORLD

Dabur India Energising growth Dabur India Ltd has marked its presence with significant achievements and today commands a market leadership status. Its success story is based on dedication to nature, corporate and process hygiene, dynamic leadership and commitment to our partners and stakeholders. Recently, the company announced that it had signed an agreement with Ajanta Pharma Ltd to acquire the latter’s over–the- counter energizer brand ‘30Plus’. An insight…

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abur India, the country’s fourth-largest FMCG company, with Rs 4,110 crore in sales, has grown primarily through the inorganic route over the last few years. It bought Balsara in 2005 and Fem Care Pharma in 2008. And in the last 10 months, it has struck three deals worth over

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$170 million, acquiring Turkey’s Hobi Kozmetik, Chicago’s Namaste Group and Ajanta Pharma’s ‘30-Plus’.

According to P D Narang, Group Director, Dabur India, the deal is part of an aggressive strategy to build a strong OTC healthcare business and to strengthen the firm’s portfolio in this segment.

A walk down the memory lane…

Dr S K Burman started Dabur in 1884 as a small pharmacy. Initially, he prepared Ayurvedic medicines to treat diseaseslike malaria, plague and cholera-that had no cure during that period. It was his dedication, commitment and empathy that made Dabur a renowned name among the masses. And today, after more than 120 years, Dabur is known for its trustworthiness more than anything else.

During this passage of time, Dabur went through several structural and strategic changes to maintain its market www.advancedge.com Advanc’edge MBA September 2011

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CORPORATE WORLD Brand Wagon strength. The real mass production started in 1896. Early 1900s’ saw Dabur emerge as the first company to provide healthcare through scientifically tested methods. It achieved significant improvements after setting up Research and Development centers and manufacturing automation. The launch of Dabur’s Amla Hairoil and Chyawanprash was a boon to the expanding business. To keep up with the times, Dabur computerized its operations in 1957. Its Dant Manjan and digestive tablets were widely accepted as well.

However, with a large product portfolio in the market, Dabur had to maintain operational efficiency. To make sure it adjusted to the business environment, it became a public limited company in 1986 followed by diversification in Spain in 1992. A major change came when Dabur came up with its IPO in 1994. Because of its position, Dabur’s issue was 21 times oversubscribed. Dabur further divided

its business into three separate groups: Health Care Products Division  Family Products Division  Dabur Ayurvedic Specialties Limited In 1998, for the first time in the history of Dabur, a non-family member took charge. Dabur handed over the operations to professionals. Successful implementation of procedures, timely changes and maintaining its essence, Dabur achieved its highest-ever sales figure of Rs 1166.5 crore in 2000-01.

As FMCG sector was struggling with the slow growth in the Indian economy, Dabur decided to take numerous strategic initiatives, reorganize operations and improvise on its brand architecture beginning 2002. It decided to concentrate its marketing efforts on Dabur, Vatika, Anmol, Real and Hajmola to strengthen their brand equity, create differentiation and emerge as a pure FMCG player recognized as a herbal brand. This was chosen after a study with Accenture, which revealed that Dabur was mainly perceived as a Herbal brand and connected more with the age group above 35.

Also, larger retailers were making their foray into the FMCG market. Apart from HLL, P&G, Marico and Himalaya, ITC was also posing a challenge. The supply chain of Dabur was becoming 

complex because of the large array of products. Southern markets share in the sales figure was negligible.

These factors posed a threat to Dabur and hence small changes were not enough.

Dabur has identified healthcare as a crucial growth driver for its business in the coming years and is focussing on grabbing viable opportunities.

Brand repositioning With youth being a major population of India, Dabur decided to revamp its brand identity. Dabur associated itself with Amitabh Bachchan, Vivek Oberoi, Rani Mukherjee and Virender Sehwag for endorsements. New packaging and advertising campaign saw the sales of Chyawanprash grow by 8.5 per cent in 2003-04.

The year 2004-05 saw a whole new brand identity of Dabur. The old banyan tree was replaced with a new, fresh banyan tree.

The logo was changed to a tree with a younger look: the leaves suggesting growth, energy and rejuvenation, twin colours reflecting perfect combination of stability and freshness, the trunk represented three people raising their hands in joy, the broad trunk symbolising stability, multiple branches chosen to convey growth, and warmth and energy displayed through the soft orange colour ‘Celebrating Life’ was chosen as a new tag that completely summarised the whole essence.

Other initiatives For better production and operation management, Dabur included automation, debottlenecking, Kaizen and wastage control.

Further, Dabur made its largest acquisition by taking over Balsara hygiene and home products business.

Dabur bought the entire promoters’ stake of three Balsara companies through an all-cash deal of Rs.140 crore. This was done to ensure Dabur’s presence in all price segments in the herbal oral care market. Moreover, it allowed Dabur’s entry into the household care segment, where Balsara has well-established brands.

Dabur also de-merged its pharmaceutical business to come out as a pure FMCG player.

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Business Analysis CORPORATE WORLD

Debt downgrade in the US With only a $ 2.4 trillion expenditure cut and a poor budgeting process, S&P, perceived a major risk and hence, for the first time in the history, it downgraded US’ long-term debt from AAA to AA+. Now, with this downgrade, US joins the band of ‘second rated’ countries like China, Japan and Kuwait. Negative reaction from markets all over the world has been widespread; followed by the steepest fall in the US stock prices in the last three years. So, what are the implications of the S&P downgrade?

Dr Suresh Srinivasan

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‘force to reckon with’ globally, United States (US) is the world’s largest economy with a Gross Domestic Product (GDP) of $ 15 trillion, accounting for more than 25 percent of the Global GDP, all nations put together! However, it is a well-known fact that the US has been living far beyond its means for a while; meaning, it is the largest importer of goods and services (around $ 2 trillion per annum), and this far exceeds its exports (around $ 1.2 trillion per annum) and thereby continues to have deficits with its trade partners. Such deficits have, over a period, translated into loans and debts, which have to be ‘paid off’ and settled by the US, at some point in time.

The debt factor The level of a county’s debt is generally denoted as a percentage of its GDP. For the US, this has been steadily increasing from 30 percent during 1980s to 55 percent in 19902000 to 93 percent in 2010 where the debt shot up to $ 14.3 trillion, with GDP at $ 15 trillion. It is not only the US government that is largely indebted; the American households have also been virtually thriving on high levels of debt to maintain their exuberant lifestyle. The overall debt (government, corporate and household, all put together) to GDP is around 350 percent. Such high level of debt has to take its toll one day, and it seems the day has come! www.advancedge.com

The cause: What actually happened?

Due to increasing debt, the upper limit up to which the US Government can borrow $ 14.7 trillion has recently been exhausted. Further borrowings are required to honour commitments to international banks; if not, the US government could default, which is a serious situation of credibility loss.

Hence, the US Congress was left with no option but to increase the borrowing limits. However, given the profile of the US annual receipts and expenditure, there being already a large deficit,

approving more loans would not be viable! Hence the government needs to have a solid plan as to how future expenditure could be cut and deficits reduced. The US Congress extensively debated various options that would be in the best interests of the economy.

The borrowing limit already being high, should it be increased at all? Or should the US government be allowed to default and the consequences faced?

Increase the borrowing limits, borrow further, carry on the

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CORPORATE WORLD Business Analysis current day-today operations, eventually deferring the resultant problems to a latter date, and finally Increase the borrowing, but seriously consider options to reduce expenditure over the medium-to-long term so that the future deficit comes under control.

After extensive debate, the US Congress chose Courtesy Corbis Images the third option, agreed to reduce this will hence dampen the prospects expenditure by around $2.4 trillion of its economic recovery. The GDP over the next 10 years, in a phased growth for the first three months of manner and finally approved the 2011 was less than 0.5 percent, one increase in borrowing limits. However, of the slowest recoveries in the history rating agencies like Standard and of the US. Unemployment remained Poor (S&P) expected at least $4 trillion high at more than 9 percent and the reduction in expenditure, and putting housing market remained at rock in place a disciplined budgeting bottom. Now, cutting down trillions process, which is currently missing. of dollars of expenditure will virtually Especially with only a $ 2.4 trillion bring the economy to a stand still! expenditure cut and a poor budgeting Slower recovery in the US is bound process, S&P, perceived a major risk to exert pressure on the growth of and hence, for the first time in the emerging markets like India. Reduced history, it downgraded US long term expenditure in the US means lower debt from AAA to AA+, while Moody’s exports from economies like India maintained the AAA status. S&P’s (more than 10 percent of Indian downgrade is therefore a serious blow exports is to the US) and many other to the credibility of the US, where it Asian economies. Slower US growth has enjoyed the supreme credit rating also means less IT spend in the US, of AAA for decades, together with a which in turn will result in slower select band of 17 countries. Now, with growth for the Indian IT sector; with this downgrade US joins the band of more than 80 percent of the Indian ‘second-rated’ countries like China, IT income being from developed Japan and Kuwait. Negative reactions economies like the US, this will have from markets all over the world have negative implications. been drastic; what has followed is the There is likely to be a relief steepest fall in the US stock prices in for Indian inflation! Crude oil price the last three years. So, what are the has been coming down since the implications of the S&P downgrade? downgrade due to the global growth The effect The downgrade would cause a serious blow to the US economy that is struggling to recover from the recession. The US will have to steadily cut its expenditure, in contrast to its current strategy of spending more monies on stimulus packages so that the economy can be stimulated to grow and pulled out of the recession;

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fears. With fuel alone accounting for more than 15 percent of the Indian inflation index, there is likely to be a relief on the inflation front, which Indian government is fighting hard to control. There are already talks for cutting petrol price in pumps. With inflation likely to decline, Reserve Bank of India (RBI) may no longer be required to increase interest rates further, which it has done fourteen

times over the last seventeen months.

A lower interest rate regime will provide higher growth prospects for the Indian economy.

With less growth prospects in the West, more investments, specifically Foreign Direct Investments (FDI) are likely to flow into India. The first quarter alone saw a $ 13.2 billion flow into India, more than double of last year.

Although initially Foreign Institutional Investors (FII) may pull out some funds, in the long term FII inflows are also likely to increase.

All of these could create more liquidity in the Indian economy and will also strengthen the Indian rupee against the US$.

In conclusion We can argue that the concern is truly not about the downgrade, but it is more about the speed of recovery of the US economy from the recession. The US has been following a reasonably predictable trend over the last century; whenever there is a contraction the recovery over the next two to three years has always been sharp and quick; but the contraction which the US economy faced in 2009 has been the biggest dip in the history.

At the same time the recovery of the US economy that followed from 2009 to 2011 has been the slowest! With this downgrade and the resultant rationing of expenditure, the US economy is grinding to a halt. This is bound to cause disruptions across the global economy, developed and emerging.

Considering all this, the impact on the growth of the Indian economy seems inevitable, but marginal!

Dr Suresh Srinivasan is a Chartered Accountant, Cost Accountant, MBA (Bradford Business School, UK) and PhD (in Corporate Strategy from IIT Madras). He has held senior positions in leading multinational corporations both in India and abroad for over 20 years. As a management consultant, he currently works closely with a number of domestic and multinational corporations in the areas of Strategy and Finance. www.advancedge.com

Business Analysis CORPORATE WORLD

Foreign Direct Investment in Multi-brand Retail The Cabinet of Secretaries (CoS) recently recommended opening up foreign direct investment (FDI) in the ‘multi-brand’ retail sector. This move allows many of the global retailers like Wal-Mart and Carrefour to enter the Indian market, in partnership with other Indian companies. An insight…

Dr Suresh Srinivasan

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here is always a big issue when the topic of opening up FDI in retail comes up for discussion.

Why? First of all, Retail is the second largest occupation for the Indian citizens; it provides livelihood close to 10 percent of the country’s total workforce in the form of ‘street corner’ shops, groceries and ‘kirana stores’.

The government is cautiously treading the path of selectively opening up this sector for foreign competition, so that the Indian consumer is able to enjoy better lifestyle and get value for money, and at the same time a

Courtesy Corbis Images

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large part of the workforce in the retail sector do not get wiped out by the mighty foreign players. So, a very careful and publicly debated path of reform is being adopted.

Second, the less talked about issue of the linkage between FDI in retail to that of the agricultural sector needs to be highlighted. Today, one of the biggest problems faced by the Indian agricultural sector and the dire state of the farmers is due to their inability to secure a decent price for their produce. For example, say, a farmer gets not more than Rs 4 per kg

of a particular agricultural commodity, for which the end consumer pays close to Rs 40 per kg. What happens to the balance Rs 36? A large part of this Rs 36 goes to the middle men.

The objective of an effective retail ‘supply chain’ should be the ability of the retailers to effectively procure merchandise at a price that gives the farmer an ideal return compensating for his efforts (much above Rs 4 per kg that is currently offered to him) and sell it to the consumers at a reasonable price (much below the Rs 40 that is currently being paid) and thereby the retailer makes a decent margin of profits. In effect, the middlemen will be more or less eliminated from the system to benefit the farmer, the consumer and the retailer.

If all of these have to work seamlessly, the retailer’s back office systems, back-end processing, infrastructure and logistics (i.e., the process of sourcing the best product at the cheapest cost and placing them on the store shelf offering the lowest price as compared to the competitors) has to be state-of-the-art’. Retail is hence not merely setting up stores and selling, it is acquiring such strengths and competencies, so that the retailer is successful and sustainable. This is precisely why FDI needs to be opened up; Foreign companies like Wal-Mart and Carrefour, are experts in such ‘back office systems’ and Advanc’edge MBA September 2011

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CORPORATE WORLD Business Analysis their procurement strategy does not merely stop at national level but goes global, by sourcing products of best quality at the cheapest price.

Retail business in India Indian retail largely consists of expenditures in groceries, clothing, footwear, appliances and white goods, electronics and consumables.

While retail contributes close to 35 percent of India’s GDP, organised retail (comprising large supermarkets, hypermarkets, malls and branded stores) contributes only percent of the total retail in India. The rest are small ‘street corner’ shops! If we compare this with other emerging markets, China stands at 20 percent and Brazil at 75 percent; demonstrating the potential for organised retail in India. Given the sheer size of the Indian middle class, the exponential growth in the per-capita income and enhanced life styles, India is uniquely placed as a retail market; researchers around the world like A.T. Kerney and KPMG have ranked India at the first position among thirty nations, when it comes to retail market potential.

Given the sensitivities in opening up the retail sector, the Government cautiously opened up FDI in ‘Single Brand’ Retail as a first step in 2006, allowing foreign brands to set shop in India.

Recommendations by the Cabinet of Secretaries (CoS) With an objective to cautiously open up the ‘multi-brand’ retail sector, there is likely to be a phased ‘roll-out’ plan; initially 36 cities with population of 10 lakhs and above would be considered. The foreign partners would have to compulsorily bring in ‘back-end’ infrastructure, technology and systems, covering at least 50 percent of their investment. As per the initial discussions it seems that the foreign partner would be allowed majority shareholding not exceeding 51 percent of the total equity. It is also being contemplated that at least 50 percent of the jobs in the FDI approved retailers should be offered to the rural youth.

Positives of FDI in Retail There are a number of positives in

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opening up the FDI in multi-brand retail. Research has shown that it enhances overall economic growth.

Improved productivity and efficiency leads to efficient sourcing and supply chain management, reduction in the number of intermediaries, a thriving farm sector, better linkage of farmers and manufactures to global markets and better quality of employment.

On the other side, the consumers are assured of superior product quality, better service and shopping experience. History shows that when FDI in retailing was first permitted in China in 1992, it not only contributed to the growth of China, but also employment in the retail increased from 4 percent that year to 7 percent in 2001, the number of retailers had increased by around 30 percent, more than 600 hypermarkets were opened and employment in the retail sector increased by 26 million.

Pitfalls and points of caution in opening up FDI in retail As seen in many overseas ‘success’ models, opening up of FDI should be gradual over a five to ten year timeframe. This will provide sufficient time for the domestic retailers to adjust and equip themselves to tackle

enhanced competition. A regulatory authority should be created that fosters a healthy competition among players. The powers of Competition Commission needs to be enhanced such that the large retailers do not take undue benefit of their scale and size and displace smaller stores. As per the models created in many developed countries, large supermarkets and hypermarkets should be kept away from the city in order to protect the unorganised and small retailers who operate within the city centers.

It is important that the government policies should be ‘inclusive’ to the smaller retailers; especially banks should be open to finance not only organised but also the unorganised retailers so that they grow and improve their efficiency and slowly migrate to the organised sector. Conditions should be imposed on retailers on a minimum sourcing of farm produce and manufactured goods from domestic Indian farmers and manufacturers; this will help the very objective of the opening up of FDI in the retail sector.

Having weighed all the pros and cons, opening up of FDI in ‘multi-brand’ retail is expected to be a winner for India’s economic growth! www.advancedge.com

Business Analysis CORPORATE WORLD

Draft Land Acquisition Bill, 2011 The Indian government has recently unveiled a draft legislation, ‘The Draft National Land Acquisition and Rehabilitation & Resettlement Bill, 2011’ that is expected to provide a transparent legal framework, offering adequate compensation to land owners and ensuring rehabilitation of those displaced. The main objective of the bill is not only to protect the interests of the land owners but also those whose livelihood is dependent on the acquired land. The draft bill, which has been released inviting comments, is targeted to be finalised and approved by the Union Cabinet and introduced in the Parliament by September 2011.

Dr Suresh Srinivasan

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and acquisition related issues primarily stem from a fundamental question; is agricultural development important for the country or is industrial growth more important? Of late, India has been seeing intense activity in creating new Special Economic Zone (SEZ) and industrial parks.

Close to half a million hectares are being acquired for SEZ’s and other commercial projects. Such a magnitude of land acquisition has not been seen in the past. But a worrying aspect is that there have been widespread delays in land acquisition for many projects.

Being the democracy that it is, India has its share of State-level politics as well, that has often clouded the issue of land acquisition.

The problem is also complicated by large companies using economic progress as a pretext to forcibly acquire land from the owners, with the support of state governments.

The Commerce Ministry has taken www.advancedge.com

the view that development of such economic zones is vital for achieving the targeted high economic growth, even if it means diverting some agricultural land for industrial use.

So, large scale land acquisition would be the order of the day and there needs to emerge a seamless regulatory process that will put in place a ‘quick and fair’ process! The proposed bill addresses their issue of how land can be acquired with minimum inconvenience to those who lose their livelihoods as a result of

such acquisitions.

Current Land Acquisition practices in India The existing regulation, Rehabilitation and Resettlement Policy of 2007 approaches the issue of compensation and rehabilitation.

Over a period of time the Government has strengthened the country’s regulatory framework in tandem with increasing economic activity; but more needs to be done. There are provisions laid down relating to the Courtesy Corbis Images

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CORPORATE WORLD Business Analysis amount of compensation payable - which is close to that of the market value - timelines have been stipulated for competing the acquisition process, etc.

But in spite of all of these, many cases of widespread social unrest have been reported across the country.

It is not one person or family that is dislocated but a whole generation. Hence, more robust regulations are required in terms of valuation of land and a fair resettlement and rehabilitation package, so that a fair deal is struck with the displaced community.

With an objective to bring in a comprehensive legislation that deals with both land acquisition and rehabilitation, the draft Land Acquisition Bill, 2011, has been put up in the public domain for comments.

Draft Land Acquisition Bill, 2011 The key issues addressed in the proposed draft bill are the following: The bill has stipulated the consent of 80 percent of the land owners; this means, even if 20 percent of the land owners are not acceptable, acquisition would be forcibly done.

But the consent of 80 percent of the affected families will be mandatory.

Certain sections feel that 100 percent consent should be secured before the acquisition, although this could delay the process just because of one or two rogue elements!

The legislation calls for expanding the term ‘Public Purpose’, to cover certain nationally important acquisitions, in which case, the government will interfere and acquire the land even if there is a widespread resistance from the land owners.

Currently, ‘Public Purpose’ includes acquisition of land for building roads, airports, ports, or for defense purposes. The draft legislation now has added infrastructure and industry as well, to the list. Certain sections feel that the term ‘Public Purpose’ needs to be more clearly defined, so that it is transparent as to when the government can step in. The draft legislation also makes it fairly

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clear that, otherwise, the government should not interfere in the process of land acquisition, especially for private companies acquiring land for private purposes, which should be directly negotiated between the private company and the land owners. The bill also requires States to set up a committee to approve that the acquisition is of “public purpose” so that land is not indiscriminately acquired. If the acquired land is not put to use within five years of the acquisition, the bill says that the acquired land will be returned to the original owner.

The bill generously addresses the compensation and rehabilitation recommended for land acquisitions.

This is very important as this will help the process becoming sustainable as more and more land acquisitions starts taking place. The bill stipulates that in case of urban areas, the compensation awarded should be more than twice that of the market value determined whereas in rural areas it would be not less that six times the original market value. If the acquired land belongs to tribals, then additional compensation would be payable.

The landowners will be entitled to a subsistence allowance of Rs 3,000 per month for 12 years and Rs 2,000 per month for 20 years which would be adjusted for inflation. In the cases of land acquired for urbanisation, 20 percent of the developed land would be reserved and offered to the land owners and every affected

family would be entitled to one job, or a one-time payment of Rs 2 lakh. Those who lost their house in the land acquisition process would be provided a constructed house with specified dimension, as well as a one-time resettlement allowance of Rs 50,000. If the land acquired is for an irrigation project, one acre of land would be provided to each affected family in specified areas. The bill stipulates that the resettlement plan should provide various amenities including schools, playgrounds, health centres, roads and electric connections for each family.

In order to assess the environmental impact, a National Environment Appraisal and Monitoring Authority is proposed to be created which is expected to act as an independent regulator responsible for judiciously granting environmental clearances; this is currently lacking and the process has become extremely subjective leading to delays in land acquisition.

On balance, it seems that a fair ‘land acquisition’ process is evolving with a transparent compensation and rehabilitation package. Also the possibilities for ‘arm twisting’ seem to be greatly minimized as the state intervention will be warranted only in case of special circumstances.

Overall, the bill seems to help achieve a ‘less painful’ process for the land owners and ensure India moves forward on the targeted growth path. www.advancedge.com

Business Analysis CORPORATE WORLD

Economic Indicators

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CORPORATE WORLD Business Analysis

Economic Indicators

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WORLD VIEW

Euro Sovereign Debt Crisis 2011 Current economic conditions have exposed the crack in the EU’s foundation. A single currency always implied greater political union and that has never happened. There is no federal European government, and so there is no way for the EU to set a central tax policy or budget. Each nation inside the euro is sovereign with its own political dynamics.

It is an irony that a politically created project has no overall political framework.

Gauri Puranik

T

he Eurozone consists of 17 European Union member states that have adopted the Euro currency as their sole legal tender.

The Euro was formally introduced on 1 January 2009 and physical notes and coins were introduced on 1 January 2002.

reserve currency. It was instrumental in helping the entire European Union grow economically. Today the EU accounts for between 27 percent and 28 percent of world GDP — a larger share than either the U.S. or China.

Formation of the Euro The introduction of the Euro is backed by its history. In 1950, after Germany’s occupation of France ended — the European Coal and Steel Community (ECSC) was established to make it easier for France to import German steel and coal.

The ECSC was a success and by the end of the 1950s the ‘Common Market’ was created.

Over the decades and treaty after Courtesy Corbis Images treaty, Europe’s political leadership continued their countries’ drive toward economic integration. By 1985, the Schengen agreement allowed free The European Debt Crisis movement of goods around the EU. The European Debt Crisis has been The logic of economic integration led the result of heavy sub-prime lending in to the creation of a single currency. The the EU countries like Greece, Portugal, 1992 Maastricht Treaty set the stage for Spain etc. where the property boom introduction of the ‘Euro’. There was a escalated debt. Another factor is the caveat here; individual European states rise in sovereign debt; the benefit and wanted economic integration without pension plans laid out by the European the implied political integration that is the Governments. logical outcome in such cases.

Post the US’ recession in 2008, To simplify the process, much of the there was rising liquidity crunch in process was delegated to the European Europe. To check this crunch state Commission, the EU’s administrative governments issued bonds to raise arm in Brussels. The process by which money. But over a period of time, the euro was created was thus opaque coupled with the rising debts related and not entirely democratic. While to other government spending, like countries within EU adopted common unemployment benefits, defence currency, they still had the authority to expenditure etc. the governments had decide individual tax regimes and set no money to pay back interest on these their own budgets and benefit plans. . bonds. This is exactly what happened For its first decade the euro worked with Greece. They had feeble policies well. It quickly established itself as a which favored their citizens to an

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unacceptable degree, but these policies were never withdrawn because of political interests. In such situations most governments, print additional currency to payoff some of the short-term debts.

But Greece could not do this as it did not have its independent currency but was instead using a common currency like the ‘Euro’. This is when the European Union came to Greece’s rescue and worked out a ‘bailout’ plan. Basically EU had no choice! Banks across Europe had invested in Greek bonds on behalf of international pensioners and savers. If Greek defaulted, it would have taken Europe with it. Eventually, Spain, Ireland and Portugal have also joined the Greece bandwagon.

Currently a trillion dollar rescue package has been sanctioned by the EU and the International Monetary Fund for the whole of Europe. But speculation is rife and there are talks that this package will not be sufficient to bring EU back on track even if the southern defaulting states adopt all possible austerity measures. .

Will the ‘Euro’ be defunct?

The European Union debt crisis has raised the question about the credibility of using a single currency in EU. Led by France and Germany, many European countries are paying large sums of their taxpayers money to payoff internal disparities. There have been various revolts in Germany and France. The Germans especially feel mistreated by a monetary system that makes them pay for others’ largely self-inflicted misfortunes.

As of now, top policy makers and economists are working on a stronger political and economic framework that will help save the ‘Euro’. www.advancedge.com

CURRENT AFFAIRS

Jan Lokpal Bill

India witnesses a ‘mass’ revolution ‘YIELD’ was what the citizen on the street was forcing on the government; relenting was the only action government had to perform. Looks like it has decided to pay heed and adopt a much softer and sensible approach.

Anil Bhagtani

T

he government seems to be taking a softer line! It is a sort of our own Jasmine revolutionone that has brought forth strong civil confrontation between the People and the Government (read congress Party).

There is Change in the Air! It can be seen around and felt and has brought a very pristine sense of achievement. Over the last few days, India has witnessed nothing short of a gleaming and colossal revolution.

Unprecedented, over many decades after the freedom struggle, we haven’t witnessed this intensity– we can indeed afford to term it as Freedom Struggle v2!

Millions across the country have put in hard work which has culminated into a large endeavor that has in a true sense liberated us.

The prime mover is Anna Hazare a simple, frail septuagenarian who has also been a Civil Society leader and activist. An evangelist to say the least whose efforts will always be remembered by future generations, Anna has done the tough kneading and brought about an awakening and made Indians realize their potential as a People. His shining team has members of the likes of the great Kiran Bedi, Arvind Kejriwal, the father and Son duo of Shanti Bhushan and Prashant Bhushan, Swami Agnivesh and the millions of followers not only in India but elsewhere. Across the world one can see a support that will go down in the annals of history as unprecedented.

The outrageous mud-slinging that the government used to discourage the Civil Society members which only provoked and made the activists’ www.advancedge.com

resolve stronger also galvanized the whole country to rise against it. It made the common man stand up and take notice of the murky depths our politicians can fall to malign their own absolutely clean constituents. The government conveniently forgot they were striking against a populace they were supposed to serve in the first place. And, they had taken an oath of office towards it. A great party called the Congress now had members who could stoop so low and resort to unheard of levels of character assassination. All this makes one wonder why did they get it all wrong.

Although the PM has denied any corruption in the government, it was indeed the cause, and it was happening right on his porch! And, seeing this coming from one of the

most academically potent ministerial teams in the world, which should have made us proud, rather this team was back-stabbing its people, to put it mildly. Their intentions – as it is said in Hindi ‘Neeyat’ the innermost point of reference was always in doubt.

Six decades of habits die hard!

The Lokpal bill prepared by the government was rather inclined towards raising corruption in some sections of the government especially lower levels of bureaucracy which have no accountability at all. It is not only at the higher levels of the governments where corruption is rampant, the lower level employees in the state governments, municipal corporations as well have a dark history of being corrupt. In fact, nothing much will get moving without

Courtesy Google Images Advanc’edge MBA September 2011

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CURRENT AFFAIRS Courtesy Google Images

greasing palms in India as the saying goes. And, in any case how can the government conveniently allow corruption by keeping one class of lower employees out of the bill everyone who wants to be a public servant has to be accountable!

The other bone of contention is keeping the PM out of the bill surprise, surprise when we have the PM overseeing the cabinet, which has serving cabinet ministers lodged in Jails using their positions to benefit their families and causing colossal losses to the state. Shouldn’t then the PM be held accontable to keep an eye on his personally selected team? Under no pretext can he be kept out of it- however honest he may be.

Dr. Manmohan Singh was initially willing to be included in the ambit of the bill, but the self-esteem of the Congress party then made him withdraw it. This enraged the People and rightly so. In all, the mismanagement of the Congress party has lit millions of fires across India and it doesn’t look like there are enough resources which will douse these fires. To rectify the situation the Congress party will have to climb down from their high horse and relent.

There are other clauses: the inclusion of the judiciary to check corruption. This is that pillar of democracy without which it will all be futile and so team Anna is rightly fighting for it. Other minor issues exist. The composition of the Lokayauktas at state levels. This is

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only logical and cannot be ignored.

Anti corruption investigations will be conducted by the Lokpal and not the CBI, seems to be one of the other major issues of contention.

Realistically, the myriad efforts of the thousands of people who have come out and sent millions of text messages, blogged, come out on streets and picketed in front of the ministers’ bungalows, put up mind-blowing posters that have shaken a nation and have transformed into a huge movement. The potential of this revolution to change India in so many ways is beyond imagination.

In many ways we are witnessing a new order in which the People of the nation are awakening to a new dawn of hope.

The people now know how to press for their demands, picket in

front of the houses of the chosen leaders and extract promises. } The politician will now listen more intently. } Real issues will be taken up seriously. } Party whips will not be followed rather representatives will indeed go back to their constituencies and consult their constituents instead of blindly following dictates of the higher ups } Realistic bills will be drafted } Erring politicians will be pulled up } Ego tussles between the politicians and People will go in People’s favour India will continue to be called and rightly so - the great land of peace, where the most monumental revolutions happen, without blood shed.

We will truly be able to term ourselves a Democracy and not a Dictatorial Monocracy or Mobocracy.

Our constitution which proclaims “Of the People, For the People, By the People,” will indeed be implemented.

Certainly, this all will lead the country to even greater heights. The youth has rightly taken the lead and will be the ones to carry the change further. The best is yet to come!

Some battles seem to have been won by the Civil Society members, but the war is not yet over, and there may be many combats ahead.

At the time of going to the Press, the Bill was yet to be passed and adopted… the road ahead is long and winding.

Courtesy Google Images

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STUDY HOUR

WORD DOSE Reshma Majithia

Mumbai Magic with Harish The rains bring in happiness and enchantment.

The whiff of rain soaked soil is so alluring and all you want to do is savour every minute of the season. Amidst the hurly-burly of Mumbai city stands Tardeo Chaiwala.

A young man of 20, with a puckish beam; he (Harish) is very content being a chaiwala in Mumbai, the city of dreams. Harish along with his dad (Kanhaiya) has been in this business for the past 10 years. His day begins at 7.00 am every morning. Passers-by, idlers, busy employees taking a break, watchmen and people from all walks of life become a part of his tea stall and that tea stall, a part of their daily life.

Harish started working with his father at the age of 10. He went to a Municipal school, won many awards and accolades at school for singing as he loved to sing and wanted to become a singer; but fate had other plans for him. He had to relinquish his academic career to provide for his impecunious family for he has two other siblings.

His father could not afford to pay for his education and was rather tight-fisted.

Come monsoons and you find yourself hankering for a hot chalice of tea.

During the rainy season Harish’s chai stall is swamped with customers. He works sedulously and still has that smirk on his face.

People congregate and sop up the happiness he exudes more than the tea that he relentlessly keeps brewing. People love him for his blithe spirit. Harish serves you one cutting chai and one full glass of cheer.

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Advanc’edge MBA September 2011

77

STUDY HOUR Word Dose

WORD MEANINGS Enchantment: (N)

Whiff: (N)

Alluring: (Adj)

Savour: (N)

(en-chant-muhnt)

(wif)

(uh-loor-ing) enticing,

(sey-ver)

spell, charm,

a passing odour

captivating, attractive

to give oneself to the

fascination

Hurly-burly: (N)

enjoyment of

Puckish: (Adj)

Beam: (V)

Relinquish: (V)

(hur-lee-bur-lee)

(puhk-ish)

(beem)

(ri-ling-kwish)

noisy disorder and

mischievous; impish

to smile radiantly

to give up

confusion; commotion;

or happily

uproar; tumult

Impecunious: (Adj)

Tight-fisted: (Adj)

Hankering: (N)

Chalice: (N)

(im-pi-kyoo-nee-uhs)

(tight-fisted)

(hang-ker-ing)

(chal-is)

poverty stricken

not generous, stingy

craving, longing for

a drinking cup or goblet

Swamped: (N)

Sedulously: (Adv)

Smirk: (V)

Congregate: (V)

(swomp)

(sej-uh-luhs-ly)

(smurk) smile

(kong-gri-geyt)

crowded

tirelessly

to gather, to come together

Sop up: (V)

Exude: (V)

Relentlessly: (Adv)

Blithe: (Adj)

(sop-up)

(ig-zood)

(ri-lent-lis-lee)

(blahyth)

absorb

to project or display

continuously

joyous, merry, or happy in disposition

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Advanc’edge MBA August 2011

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STUDY HOUR

Reshma Majithia 1. He is the richest person of East Asian descent in the world and the eleventh richest person in the world and is the Chairman of Hutchison Whampoa Limited (HWL) and is all set to buy one of Britain’s biggest water utilities, Northumbrian Water in a deal worth nearly $4 billion. Name him.

a. Quek Leng Chan

b. Wee Cho Yaw

c. Li Ka-shing

d. Robert Kuok 2. Which of the following FMCG companies has introduced its Burst Fizz brand to tap fizzy drinks market?

a. Hindustan Unilever Ltd b. Dabur c. PepsiCo d. Coca-Cola

c. India d. South Africa

6. Who has been appointed as Senior Advisor in the US State Department’s South and Central Asia Bureau to cement ties with the Diaspora groups?

a. Mitul Desai

b. Rajiv Shah

c. Vivek Kundra

d. Aneesh Chopra

8. Walt Disney Co, the largest shareholder in an Indian Media conglomerate integrated media and entertainment company has proposed to buy most of the shares it does not already own in the company, which has a market value of $826 million. Name the Indian media conglomerate.

a. UTV Software Communications b. Network 18

c. Yash Raj

d. Reliance ADA

7. Which of the following Indian states is now exploring adventure sports and is preparing to bid for the 2014 World Paragliding Championships? a. Kerala b. Maharashtra

c. Gujarat d. Arunachal Pradesh

9. According to Steel Minister Beni Prasad India will become the world’s second largest producer

3. Which of the following Bollywood actresses has become the brand ambassador of Lakme?

a. Soha Ali Khan

b. Aishwarya Rai Bachchan

c. Priyanka Chopra

d. Kareena Kapoor 4. Which of the following sports channel has acquired the exclusive broadcast rights of Euro 2012 in the Indian sub-continent namely, India, Pakistan, Sri Lanka, Bangladesh, Nepal, Bhutan and Maldives?

a. Zee Sports

b. Star Sports

c. Ten Sports

d. Neo Sports 5. Which of the following countries formally took its place in the UN Security Council after a gap of 19 years as a new non-permanent member for a two-year term, a position from which it is expected to push its agenda for UN reform? a. Columbia b. Germany

www.advancedge.com

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.

Advanc’edge MBA September 2011

79

STUDY HOUR

of the alloy by ___________with an installed annual production capacity of 120 MT . a. 2016 b. 2014 c. 2015 d. 2013

10. Which of the following banks has entered into an agreement with the solar energy solution company to provide loans to farmers and rural artisans to buy solar off-grids made by Environ Energy Corporation India Pvt Ltd.? a. HSBC

b. State Bank of India

c. Allahabad Bank d. HDFC 11. Which of the following social networking giants has bought a digital publishing company Push Pop Press that develops technology to help make interactive books optimised for iPad and other Apple devices? a. Facebook b. Twitter c. Orkut

d. Google plus 12. Which of the following brands has overtaken Google and Face book to become No 1 international brand in China? a. IBM b. Apple c. Microsoft d. Nokia 13.

An Italian automobile manufacturer, engine manufacturer, financial and industrial group became the majority shareholder of Chrysler Group after acquiring the US and Canadian governments’ stakes in the US automaker, bringing to an end to both the government’s multi-billion bailout of the company in 2009. Name the group. a. Lamborghini b. Ferrari

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Advanc’edge MBA September 2011

c. Maserati d. Fiat

c. Sao Shwe Thaik d. Nguyen Cao Ky

14. Who is to be awarded with the 2011 Jean Hersholt Humanitarian Award at the Academy of Motion Picture Arts and Sciences Governors Awards?

a. Walter Mirisch

b. Arthur Hiller

c. Jerry Lewis

d. Oprah Winfrey

19.

Who was awarded the ‘Bangabibhusan’ title by the West Bengal government in recognition of his contribution to the world of music?

a. Ghulam Ali

b. Ravi Shankar

c. Amjad Ali Khan

d. M. Balamuralikrishna

15. Who has been chosen for the country’s highest sporting honour - Rajiv Gandhi Khel Ratna for 2010-2011?

a. Viswanathan Anand

b. Gagan Narang

c. Dhanraj Pillay

d. Abhinav Bindra

16. Which of the following Indian companies has been ranked sixth in the list of ‘The World’s Most Innovative Companies’ published

by Forbes in its latest issue?

a. Tata Motors

b. State Bank of India

c. Hindustan Unilever Ltd

d. Reliance Industries

20. The world’s biggest auto market as well as the largest market for the Japanese automaker has plans to invest 50 billion yuan ($7.8 billion) in China by 2015.

Name the carmaker a. Honda b. Toyota c. Nissan d. Mitsubishi

17. Which of the following software companies overtook Wipro as the third largest software exporter?

a. Tata Consultancy Services b. Cognizant c. Infosys

d. HCL Technologies 18. He served as prime minister of U.S.-backed South Vietnam in the mid- 1960s. He had been commander of South Vietnam’s air force when he assumed the post in 1965, the same year U.S. involvement in the war escalated.

He also served as a vice president under his frequent rival, Gen. Nguyen Van Thieu from 1967 to 1971. The flamboyant former air force general who ruled South Vietnam with an iron fist for two years during the Vietnam War, died on July 23, 2011. Name him.

a. Chris Soumokil

b. Jigme Wangchuck

21. Who is the current Indian Foreign secretary?

a. Nirupama Rao

b. Ranjan Mathai

c. Shiv Shankar Menon

d. Shyam Saran 22. Which of the following Hollywood actress has been honoured at the Sarajevo Film Festival for her acting and “active engagement in the complexities of the real world”.

a. Julie Roberts

b. Angelina Jolie

c. Meryl Streep

d. Jennifer Aniston 23. A Brazilian oil giant plans to invest $11 billion in oil exploration, production and refining projects in Mexico between now and 2015.

Name the Brazilian oil giant a. Petronas b. Pertamina c. Petroecuador d. Petrobras 24. He was an Indian politician and civil servant who served as the Governor of Tamil Nadu from 1988 to 1990 and as the Governor of Maharashtra from www.advancedge.com

STUDY HOUR

1993 to 2002.

His career included extended stints with the United Nations and India’s Ministry of Commerce and his high profile appointment as the powerful Principal Secretary for former Prime Minister Indira Gandhi. His autobiography is Through the Corridors of Power.

His other works include My years with Indira Gandhi, The Perils of Democracy, and India in the New Millenium. He passed away on August 10, 2011. Name him. a. PC Alexander b. Sardar Ujjal Singh c. Bhishnuram Medhi d. Kodardas Kalidas Shah

25. Who received the Prem Bhatia Award posthumously for his superlative contribution in revealing the activities of Mumbai’s underworld, his expose on corruption in police ranks, and his extensive reportage on the bureaucracy?

a. Sushil Pathak

b. Jyotirmoy Dey

c. Umesh Rajput

d. VB Unnithan 26. Who is the new prime minister of Tibet?

a. Konchok Tsondue

b. Lobsang Tenzin

c. Kalon Tripa

d. Lobsang Sangay 27. Which of the following Indian cities have been offered the 2013 world championship title match by the world chess federation (Fide)? a. Chennai b. Mumbai c. Delhi d. Kolkata 28.

India’s second largest Pharmaceutical Healthcare company has acquired a 5.5 per cent stake in Vodafone Essar for $640 million (Rs 2,856 crore).Name the pharmaceutical company.

a. Elder Health Care Ltd www.advancedge.com

b. Pfizer Limited c. Piramal Healthcare d. Biocon Limited

29. Who won the gold medal at Karlstad Grand Prix in Sweden in her first of the series of events planned as preparation for this month’s World Championships in South Korea?

a. Karnam Malleswari

b. Tintu Luka

c. Sofia Sjoberg

d. Marielle De Mol 30.

Which of the following conglomerates bagged orders worth $889 million in the hydrocarbon sector from the UAE and Thailand?

a. Larsen and Toubro

b. Mahindra Group

c. Kirloskar Group

d. Tata Group 31.

Which of the following companies surpassed Exxon Mobil to seize the title of world’s most valuable company? a. Novartis

b. General Electric c. Apple d. Coca-Cola 32. Which of the following Indian IT companies has bought USbased insurance solution Wyde? a. Wipro b. MphasiS c. TCS d. Accenture 33.

Which of the following companies has taken over Wipro as the third largest software exporter? a. TCS

b. Mahindra satyam c. Cognizant d. Infosys 34. Who is the new CEO of NDTV?

a. Vikram Chandra

b. Rajiv Lulla

c. Sohan Shah

d. Srikanth Raman 35. FMCG Firm Dabur India has

formed a new entity, Dabur Lanka Pvt Ltd, as part of a strategy to strengthen its presence in which of the following countries: a. Qatar b. Sudan c. Singapore d. Sri Lanka

36. The world’s leading brand in the soft drink industry and one of the most recognized brands worldwide plans $4 billion in new spending in China over the next three years. a. PepsiCo b. Coca-Cola

c. Rasna International

d. Buffalo Rock Company 37. Who has been chosen to receive the esteemed Nandi Award from the Andhra government in September? Nandi award is the most prestigious award for theatre and drama from the Andhra government.

a. Chinmayi Sripada

b. K B Tilak

c. K Raghavendra Rao

d. Ravi Teja

ANSWERS 1.c 2.b 3.d 4.d 5.c 6.a 7.c 8.a 9.d 10.c 11.a 12.b 13.d 14.d 15.b 16.c 17.b 18.d 19.c 20.c 21.b 22.b 23.d 24.a 25.b 26.d 27.a 28.c 29.b 30.a 31.c 32.b 33.a 34.a 35.d 36.b 37.a

Answer to the Sudoku

Solution, tips and computer programme at www.sudoku.com Advanc’edge MBA September 2011

81

STUDY HOUR Events Calendar

B-school

events

The National Conference on Advancement in Convergence of Technologies 2011 – Amity University Haryana, Gurgaon (Manesar) Date: September 8-9, 2011 Venue: Amity University Haryana, Gurgaon (Manesar) Objective of the Conference The National Conference on Advancements in Convergence of Technologies-2011 aims to bring together eminent scientists, technologists and young researchers working in the multifaceted areas of Science, Technology & Biotechnology across India to provide a platform for discussing their achievements and newer facets of research. More than 20 eminent scientists & researchers from all over India have already consented to deliver Plenary and Invited Talks at this Conference.

Website: http://www.amity.edu/gurgaon/pdf/NCACT_Bro.pdf International Conference on e-Governance - Institute of Management, Nirma University, Ahmedabad Date: September 8-10, 2011 Venue: Institute of Management, Nirma University, Ahmedabad Objective of the Conference The theme of the conference is ‘Government Transformation: Agenda for E-Gov 2.0’. The conference aims provide a forum for discussing research findings, strategies, policies, and technologies in the field of e-governance. ICEG-2011 is being collocated with Knowledge Sharing Summit (KSS-2011) being hosted by Government of Gujarat for sharing Indian experiences in implementation of e-Governance.

Website: http://www.imnu.ac.in/www/documents/408799364 496576677613$5%5E1REFNOICEG-CFP_2011.pdf

been the pro-nites which have seen celebrity bands come down and rock the campus alive with their foot tapping and soul swaying music. Also on the agenda are the various literary competitions along with the cultural and arts events.

Website: http://www.nitt.edu/home/students/events/ festember/ Conference of Marketing Scholars and Practitioners CMSP-2011 - Apeejay School of Management, New Delhi Date: September 23, 2011 Venue: Apeejay School of Management, New Delhi Objective of the Conference The theme of Conference of Marketing Scholars and Practitioners (CMSP -2011) is “Global Uncertainties, Issues, Opportunities & Challenges”. This event endeavors to bring all academics, researchers, practicing managers and students together to share their ideas and research findings, discuss contemporary issues and challenges in business and industry.

Website: http://www.apeejay.edu/asm/doc/2011.Apj. MarketingConference.pdf 38th National Management Convention - AIMA Date: September 28-29, 2011 Venue: Hotel Le Meridien, New Delhi Objective of the Conference The theme of the convention is ‘Inclusive Growth: A Challenging Opportunity’. The National Management Convention focuses on the challenges faced by Indian Inc. and their impact on the business, industry and the country. With participation of over 1000 industry professionals, academicians and policy makers, the Convention endeavors to help companies to develop cutting edge strategies to draw an action agenda to develop their business, industry and the nation as a whole.

Website: http://www.aima-ind.org/national_events/38th-NMC. html

National Conference on Emerging Trends in Human Resource Management (NCETHRM – 2011) – IMT Nagpur Date: September 29-30, 2011 Venue: IMT Nagpur Objective of the Conference India Infrastructure Summit – Federation of Indian The conference will understand the changing role of HRM in Chambers of Commerce and Industry (FICCI) the current business scenario, to enable HR professionals to Date: September 15, 2011 design effective Talent Management strategies, to provide Venue: Hotel Imperial, Janpath, New Delhi a platform to the HR professionals, academicians and Objective of the Conference researchers to interact and share their ideas and practices The summit aims to deliberate upon the procedural constraints in business capacity building and discuss regarding the faced by the infrastructure sector which impacts the ability challenges and opportunities in HR function. to implement the infrastructure projects and the requisite Website: http://www.imtnagpur.ac.in/pdf/NCETHRM-2011.pdf strategies and approach to ensure the enormous participation of this sector in the development of the country. The summit 2nd International Conference on Services in Emerging would also address the diverse issues including policy issues, Markets – Shailesh. J. Mehta School of Management, IIT government initiatives, financing, technological developments, Bombay, Mumbai etc. relating to the sector which would raise the concerns of Date: September 29-October 1, 2011 industry players for making conducive business environment. Venue: Institute of Management, Nirma University, Website: http://www.indiainfrastructuresummit.com/about.htm Ahmedabad Objective of the Conference Festember 2011 – National Institute of Technology, Trichy The objective of this conference is to provide a venue for Date: September 22-25, 2011 international community including academics, government.

Venue: National Institute of Technology, Trichy NGOs, and industry to present, demonstrate and discuss the Objective of the event latest ideas about the Services Innovations which are driving Festember is the inter college cultural, literary and arts the government and industry in delivering the services. This extravaganza of NIT. The actual origins of Festember is “A will also give an opportunity for the community to discuss and fest to remember”. The fest has college students in South debate the state and the evolution of the Services in Emerging India swarming over to compete for the coveted Festember Markets.

Rolling Trophy. One of the major highlights of Festember has Website: http://www.som.iitb.ac.in/ICSEM2011/

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Advanc’edge MBA September 2011

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Praxis Business School with Knowledge Partners PwC and ICICI Bank launches

Post Graduate Program (Full-Time) in Business Analytics Program objective: To equip students with the tools, techniques and skills required to pursue rewarding careers in the rapidly growing area of Business Analytics.

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Program fee: `1.95 Lakhs + Service tax.

be paid at either www.praxis.ac.in or IMS Centers.

Campus placements: This is an industrysupported program designed to address the huge corporate requirement for trained Business Analytics professionals.

Selection process: Assessment Test followed by an Interview with a panel comprising representatives from Praxis, PwC and ICICI Bank.

Important Dates

Last date for application September 8, 2011

Assessment test September 10, 2011

Course commencement September end, 2011

Knowledge Partners

Visit: www.praxis.ac.in | Call: 98368 77599/ 98316 23000/ 033 24980553/ 4