10 December, 2005

Does an MBA teach entrepreneurship?

Getting inclined towards the entrepreneurial qulaities of a person is not uncommon. I am talking about the entrepreneurial course being taught by great professionals at HKU MBA; and one among them is the founder of DHL.
They talk about personal operating system and the qualities that one should bring on table for creating a successful business. MBA definitely helps in connecting the bits and pieces for building a new business model from scratch. We also study about Innovation which is nothing but Identifying the best practices/processes and then combining them logically. In fact they recommend to read or gain as much experience so that you can pick the best stuff for your startup. You should be doing everything to be the winner and never let skepticism creep in. I would post some V. interesting articles from the class.

19 November, 2005

Banaras : My second love

I love Banaras, the land of Budha,Tulsi and Kabir.
Get some gyan on Banaras here.
Banaras Blog Spot :http://www.mysticalbanaras.blogspot.com/
Film on Banaras: http://www.banarasthefilm.com/

04 August, 2005

How To Quit A Job Gracefully

There are two things in our working life that we need to write well. One is a good resume and the other is a resignation letter. While one (the CV) indicates a start, the other (resignation letter) indicates an end. The common factor here is both need proper forethought and planning. Once you have made the decision to quit, it becomes imperative that you do it gracefully and professionally. The primary reason for this is obvious; you are a professional in everything you do and quitting your job is no different than anything else. You want to do it right. You will also need references in the future, and quitting with style and grace will help you immeasurably when the time comes for a positive review of your past work. So before you take that final leap, here are a few things that can help you bid farewell to your old job in a pleasant fashion. But first of all, are you ready to quit? Before you rush in to write your resignation letter, be absolutely POSITIVE that you want to quit, and make sure you've done your homework. You should be confident that the next job you have is better than your present one and if you aren't, then it makes sense to hang around until you?re certain. Writing a Resignation LetterYour resignation should be handled in person. Ask your direct supervisor if you can speak with him or her privately in their office. When you announce your intention to resign, you should also hand your supervisor a letter that states your last date of employment with the company. Remember to keep your resignation letter short, simple and to the point. There's no need to go into details about your new job, or what led to your decision to leave. Let them Know speaking to your boss face to face might be the most difficult part. However, make sure your boss knows that your reason for leaving is that you've outgrown your position and are looking for a more challenging job. Don't blame your boss or your colleagues for anything. If you don't have anything nice to say, don't say anything bad either. Remember, you may be in need of a reference from your current boss in order to get your next job, so do everything you can to make the process as smooth as possible. In addition, you never know who you might end up working with (or for) down the road. The boss you dislike today could well be the one that accepts a job as your supervisor at your new organization!
Give Notice Many jobs require a month's notice before quitting. This is standard in the corporate world, and even if your employer doesn't ask for any notice, you should at least give him a week or two to tie up loose ends and find someone to replace you. If yours is a job that no one else at the company knows how to do, you may be asked to train your successor, and unless it is impossible, you should do so. Praise Your CompanyLet your supervisor know that you appreciate all that the company's done for you and that you'll do everything in your power to make your departure as smooth and painless as possible. Be ResponsibleFinally, ask if there's anything that you can do during the transition period (until you leave), such as help train your successor, tie up loose ends, or delegate tasks. Make sure that you provide a copy of your resignation letter for your company's personnel file. This way, the circumstances surrounding your resignation will be well documented for future reference. In all likelihood, the human resource department will want to meet with you to process your departure papers, or cover any questions you may have, like the transfer of your superannuation. Keep in TouchKeep writing an e-mail to your boss every now and then to let him or her know how your new job is going. If possible, ask for advice on your career, as you never know when you might need his or her help in the future.
Finally, be certain that you're making the right career move. If your job is monotonous but will likely get more and more challenging in the coming months, you probably should stick it out in expectation of the coming rewards. If your job has brought you to a complete dead-end, however, don?t hang in there. So, even if you accept a pay cut to move to a more challenging job, your career will benefit from the added experience and you will likely be rewarded in the future.

28 July, 2005

MBA Journey

No Half Measures this time, its full 42 Kms of Marathon now. Yes,soon I would publish about the way to go for MBA abroad.The facts and things to be kept in mind before delving deep into it.The blog is going to be boring and long however this may act as a good guide for someone just beginning to prepare for MBA Journey.Views expressed in this article is based on my experience.
Let's begin..Why an MBA should be the question an individal should ask himself or herself before making a decision.It could be two ways,probably you have an answer or else you may not have. Well,if you fall in second category,Just wait stop thinking and probably stop fooling yourself.Let the right time come when u have an answer to this Q and then you are ready to move. In case you fall in category one, you might have an approximate answer to why you want an MBA and the reasons could be numerous like...Opportunity in terms of Career growth,Better remuneration,Change in domain,Better work assignments,Better place,Opportunity in various industries like Marketing,Sales,Finance,IT and manufacturing,Business Consulting,Business Development,Human Resources,Education and reserach bla bla....There are some people who I find have fixed answers to Why an MBA? Say an entrepreneur,be a manager in one year and super manager (CEO) in 5 years etc.Well,its as important to have answers to the big Q' Why ? as that of getting an MBA. Since it would directly be proportionate to one's learning.MBA is about acquiring a set of Business skills where you can match up your profile to the jobs in market.Let me elaborate this point by saying that unlike India you have a set of electives to choose from abroad B schools and one has to decide the best for him or her in order to shape the MBA education and learning process.
Shortlisting Schools :*Expenses include (Tution+Living)
Let me be precise US B school expenses vary between 60-150K USD, However if you decide to go to some state University Expenses comes down to 35-40 k USD say Arizona State and school has a good ranking and it falls in the same category.The cost of top B schools in Europe vary between 80-100 K USD, say the expense for London Business School runs as high as 150 k USD.(Well these figures exclude the possibility of scholarship and if you depend entirely on ure own funding).Another example could be the Cost of B schools in Canada which falls in loop of 70-100 K USD.Although US top 10 (Ivey League colleges) remains my favourite as same with everybody,I would rate the B schools in Singapore,Hong Kong,India and Philippines as equally good to their western counterparts providing expenses@ one third price.Well, You may debate with me about future ROI, etc wrt Western B Schools,its true that a US or Europe degree may provide you with better dividends in future however its not always easy to compete with 30 + yrs old Investment bankers from US or say Europe and obtaining a lucrative job with top of class IB's.(I presume the general MBA crop from India or Asia are younger MBA's and carry 3-5 yrs of experience on an average).While you sit and analyse your cost to return ratio , i would also suggest to keep the risk factor in mind as well.Since US and Europe might not lend you an easy Work Permit or what they say Green Card.Needless to say pursuing education from Asia Pacific countries provides an unlimited access to developing economies like China and India,already predicted as Economic superpowers in the coming century.
Taking GMAT and Applying to Universities:Application kit to any B school comprises of (GMAT+SOP+Recommendations+Essays+Resume+Experience letter+Application fees). GMAT is graduate management aptitude test required by almost all the universities across the world for getting admitted to an MBA program.Therefor its imperative to prepare well and score high on GMAT the first step for successful admit to different B schools.A very good GMAT score is a score of 700 however 650+ is considered a good score.Admissions to a particular institute depends on several factors including overallprofile, previous work experience, GMAT score , SOP, Essays, Recommendations, Interviews and International exposure.After the GMAT apply to your shortlisted colleges by their first cut off date to get maximum attention from admissions committee.(SOP)Statement of purpose should be very well written,Essays or questions which varies for B schools needs to be neatly written and analyzed over and over again. Since this would act as one of the most important source to prove your credentials before admissions committee deciding upon your candidature.Recommendations should come from a person who know you the best and this may be from your workplace and from university professor. It should portray you as an ideal fit for being a future manager.
Financial AID: According to my reserach top MBA schools have tie up with local banks and financial institutions some of these schools helps in getting a loan covering your entire tuition and living expenses.For example London Business Schoola has a tie up with banks in London and they help you in funding your education without depleting your resources.Rotterdam Business School from Netherland has Tie up with ING bank and your admit helps you getting entire loan without security or collateral unlike india.(FYI: In India you need to provide 100 % security cover for a loan above 4 lakhs or security in terms of immovable property like land or house which amounts to 150 % to that of loan amount ,thus it becomes very essential to chalk out the ways of funding your education.)
After Admissions: Well now starts the tough journey of MBA.
Student Visa,Air Tickets,Laptop,accomodation blues,packing your suitcase follows the suit after your admissions.To land up a job from a foreign B school one needs to be at least as efficient as that of locals if not more,have to be more proactive,smart and sharper than your peers looking for same openings.Survival to this is networking. Network, Network and Network.Work with placement cell and be clear in your objectives,goals and kind of job you are targetting from very beginning.Lastly I wish to say MBA is a very important decision in life ,like for me I have had very good counsellers in my life who also adviced that its an investment and one can reap its rewards through out one's life.It is quite possible that jobs and opportunities for one particular industry may become scant but then your MBA helps you in getting through another industry and domain.
All the best