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AskMBAUniverse.com: CEOs, Deans, Entrepreneurs answer MBAUniverse.com Reader's queries; hundreds of Q&As published
For those wanting to pursue a career in management, questions abound. The What, Why, When and Where of MBA-education and Career-planning can leave anyone puzzled. Understanding this need of its readers, India's leading management portal MBAUniverse.com initiated the expert Q&A platform last year. On this platform called AskMBAUniverse.com, CEOs, Deans, Entrepreneurs and Top-academicians have answered hundreds of queries posed by MBAUniverse.com readers. This popular platform goes on to prove the credibility and following of India's leading management portal -- MBAUniverse.com.
Our experts include: Mr Ashok Reddy, Managing Director, TeamLease Services; Ms Laura Parkin, Executive Director, National Entrepreneurship Network; Dr Smarajit Dey, President, Strategic Initiatives at NIIT; Dr C S Venkata Ratnam, Director, IMI Delhi, Mr Gejo Srinivasan, MBA Product Head, IMS Learning; Mr Chad Troutwine, Co-founder, Veritas Prep, USA and Mr Rahul Gangal, General Manager, Commercial and Business Development, Tata Industrial Services.
Some of the areas covered on AskMBAUniverse.com are advice on MBA Preparation, GMAT & International MBA, Placement & Career Planning, Executive Education or Entrepreneurship.
Read on some of the recent Q&As. Click on the links for read more. You can also post your query by clicking on AskMBAUniverse.com and AskVenkat links on MBAUniverse.com portal.
Ask Venkat
Q: Dear Sir, I am a qualified Company Secretary and Inter CA. I possess more than 2 years work exp as CS alongwith other experience. I've cleared GMAT and my score is 700. I am keen to pursue One Year Full Time Executive MBA program as offered by IIM - A and ISB. Can you please guide me on other requirements and my chances about getting admission to any good B-school for the course? Thanks
Anand, (Mumbai)
A: Best is to visit their websites. You will have full details. You can also write to them further information that the web does not contain. In both cases you can also apply on line. About your chances, I cannot predict. GMAT score of 700 means you are most likely called for an interview. Which means you crossed the first hurdle. Rest depends on your performance in the subsequent selection process.
Q: Dear sir, I am from BE (mechanical). Right now I am working as a software testing engineer. I have 3 years of work experience on that domain. I belong to SC category. My academic scores are-- 79.04% in 10th; 60.02% in 12th and 64.05% in BE. I want to do my MBA program in IIMs only, if I score well in CAT exam that too in all sections can I get a seat in IIMs? And also I need financial support from the government. So, how should I move? Please guide sir
Rakesh C S, (Bangalore)
A: Scoring well in CAT means what? IF you want to be called for interview in the top 3 IIMs you should be scoring very high (not just well). Cut offs in IIMA and IIMB are different. So are the procedures. They are transparent enough. Difficult to predict based on your previous academic record. As for financial support, if you get admission even in tier II schools financial support from banks is not a problem. I do not think government scholarships are available for MBA education per se unless you belong to an underprivileged community and eligible for some scholarships from social welfare departments. For very bright students, Aditya Birla Group offers scholarships every year. Reliance Industries announced scholarships for study in Stanford. Five scholarships of US$ 87000 every year. Good luck. Aim high. It is not enough to desire. You must deserve. May luck favour those who put in the requisite effort.
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Ask MBAUniverse.com
MBA Preparation
Q: Dear sir, How should I plan for CAT? What is the preparation I should do to crack CAT? Which is the key area to focus on? When should I start planning for other important exams like FMS, XAT and IIFT? And how should I plan for GD and PI? Please advice me sir. Your advice will really help me... Thanks
Ankur, (Chandigarh)
A: Dear Ankur, CAT Preparation should ideally begin at about 6 months prior to CAT. CAT tries to measure a candidate's aptitude through Math & English and most of the areas that are tested are from your std. 8th, 9th & 10th Math & English.
Firstly, ensure that your basics are strong. Just understanding what concept to be applied where is not useful. It is important that you understand why that concept is applied there. Trying out different combinations will also lead to a better understanding of the concepts.
Secondly, learn what not to do. Often you would arrive at an answer, mark it only to find that it was wrong. The test makers understand where students tend to make mistakes normally and create answer options accordingly. Therefore even if you arrive at an answer that you can find on the sheet, you can't be 100% sure! Therefore it is very important that you understand the common mistakes you are bound to do and keep a vigilant tab on them.
Third, practice as much as possible. Nothing can help you crack the CAT like practice. Once you are exposed to all the different test formats and the type of questions, you will become confident enough to face the CAT. Do remember, just taking tests is not enough - analysis of the test is much more important than taking the test itself.
Since all the other tests are in the same pattern as CAT, preparing for CAT should stand you in good stead for all other tests - therefore as planning, all you have to do is to apply for the different tests.
As for preparation for your GD & PI, keep yourself well informed about the current affairs topics and read extensively on important topics like the Nuclear Deal, US Elections, BSE Movements etc. It is still too early for you to expect mock GDs & PIs to take form - at this point, you can only prepare on the content.
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GMAT & International MBA
Q: I have more than two years of work experience in Accenture and have a GMAT score of 590. Please suggest me which are the best B-school in US and UK taking my GMAT score into consideration? Thank you sir...
Johny, (India)
A: While giving out admission offers, business schools take a lot of things into consideration like- GMAT score, undergrad education (quality of school from which the degree was completed and the performance in the degree), quantity & quality or work-experience, extra curricular activities, leadership experiences, application essays and letters of recommendation. Do email us your detailed CV so that we can help you in your school search.
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Placements & Career Planning
Q: Dear Sir, I am a first year student of MBA from a good B-school in India. I have a question regarding my summer placement. I want to know what do companies want to look in a candidate during the summer training? What are some important things we should keep in our mind while working on our projects in a company? Please guide. Thank you sir
Sapna Nagpal, (Mumbai)
A: The first and the foremost thing that a company looks for is alignment to its values. A company, during the summer internship recruitment process, sees the opportunity to work closely with a candidate who is promising and use that opportunity to evaluate if there is a fit between the organizational objectives and the candidate's perspective resulting in long term commitment to each other. In short the company evaluates both the long and short-term ability of a candidate to deliver business results and create value for the organization.
You should try to ensure that every day of your contact with the organization, you learn something new. You should try to retain a perspective on the overall approach of the organization and how your work will further the objectives laid out. Most importantly, you should be endeavoring to link the knowledge and skills you have collected in your studies at the business school to actual business and the way it is run.
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Executive Education
Q: Dear sir, I am an executive with 10 years of experience in Sales and Marketing (Telecom and IT industry). Currently, I am drawing a package of about 18 lakhs per annum. I wish to get into IIM PGPX or similar kind of course which can enhance my career profile. Please suggest whether it is the right time to take a plunge by writing GMAT? What are the pros and cons of this? Thank you sir
Thomas, (Bangalore)
A: Including the one-year salary & salary-raises that you would forgo, the true cost of the PGPEX to you would be closer to 30 lakhs, plus the hardship for relocating from home & family for a year. Assuming conservatively that you would like to recover this cost over 3 years, your placement at the end of the program should be at a salary of 28+ lakhs. Such salaries are not usual, and recruiters will include your pre-PGPEX experience and evidence-of-demonstrated-success (in addition to your PGPEX performance) before taking such high-valued decisions. Of course, it is not a matter of costs and salary alone, and some weightage should be given to the knowledge/insights you will acquire, and your future earning potential, but these are subjective issues. In my opinion a one-year full-time residential program should be done earlier than the experience and salary level that you have reached. In your case, you will have to evaluate the risks very carefully. Your other options are to pursue a shorter-duration Advanced Management Program, or enroll for a distance education program using synchronous or online learning.
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Entrepreneurship
Q: Dear sir, after doing my MBA, I have been working at a private sector bank for a few years. I have managed to do well and lead a team of 25 people. But I want be an entrepreneur. I would like to do something in the HR space. Manpower needs of Indian corporate are expanding everyday. What kind of opportunities exists in this field? Can you please share some specific ideas that someone like me can work on? (Dated: December 27, 2007)
Manish Goel, (Pune)
A: HR is a very wide domain to play in and creates multiple opportunities. The selection of the opportunity depends on the scale that you want to play and the ability to create the platforms for the same. However some of the options on this front are:
• Perm Recruitment support to companies
• Temp employee delivery and support
• Training on your functional specialty
• Direct Selling Agent services or management
• Agent/Broker relationship to the BFSI players
The above opportunities can be explored as an individual play or by creating an organizational play to support the same.
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