Showing posts with label MBA Entrance exams. Show all posts
Showing posts with label MBA Entrance exams. Show all posts

Essential Management Skills for non-MBAs


Management skills are not the copyright of MBAs only. They can be acquired by all and should be indeed! They can be honed anywhere and there are some basic management skills that one should definitely implement in office, whether you are a post graduate management student or not. These skills don’t require you to do an MBA; just simple practices chalked out well and strategized to perfection can bring the same results for you as it would to anyone else in your office. Here is a lowdown on some essential MBA skills we feel that every non-MBA inculcates as a part of their daily habits. 

Communication Concord
Communication is an essential factor guiding your potential to flourish. This communication entails communication with everyone, be it, the boss, the seniors, your reporting boss, or your parallel colleagues. Opening doors to communication with your seniors and duly informing them about each effort taken by you is a strategic way to make them realize you’re at work and you are constantly contributing yourself in some way for the betterment and growth of the organization as well as the adding value to your area of work. Error free and lucid communication channels make way for informed decision making. However, your reputation is at stake unless your communication, whether written, verbal or pictorials is error-free. 

Relationship Building
Your growth and potential can be easily charted keeping your relations in place. Being in the bad books of even one essential entity in your organization can alter your efforts to nil. Thus, make sure to build strong and friendly relations with all. Most of the people in office spaces are not here to make long term friends, so don’t go ahead with those intentions, build relations in the form of give and take. Don’t keep to yourself, share knowledge even if people don’t share it with you. Your strategy here is to build relations for your interest not to calculate if you are getting more or less than you’re giving. 

Opinions Matter, When?
Opinions and judgments matter, but make sure these judgments are not personal judgments, judgments about colleague, their work profile, their salaries and their work. Your opinions should be business related and must be opined when in business meetings and other professional gatherings where you can draw some mileage out of their substance. Opining your thoughts and ideas in a clout of colleagues in a lunch room is not going to get you anywhere.
These are some of the basic and essential skills that should be considered to achieve the best in an office space. Always remember, office spaces are breeding grounds for senseless rumours and tough cutting edge politics that can make or break one's career, hence use these as daily management mantras for the best.

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Working and Studying Together?

To imagine excelling in work as well as studies at the same time is dream like situation that can be created only as a figment of your imagination. In reality, doing the two together is quite a task. Yes, this is not to demotivate you to strive for the two ordeals together, but to give you the correct cost-benefit analysis of both taking reality and practicality into consideration. MBAupdates shares the real picture with you, straight and upfront. Pick the essentials that are relevant to you and take your decision forward to choose both or either option.

Pros

The first and of course, the biggest attraction factor of studying and working together is to earn that extra buck. This extra money can be used to not only cover your expenses if you are studying away from parental financial aid but can also be used as fees right now or to augment further education. No doubt, for some this could be the inevitable option guiding their education and career goals. MBAupdates thinks this is one of the only real factors that make work and study a good deal. However…

Cons

If you are one of those who do not require this additional moolah and are indulging on both options to gulp more experience, well, you are mistaken. There is no doubt that your performance of at least one of the factors gets affected causing you to lose out. You get lesser time to study as you are working and attending team meetings while at the same time if you are studying you are probably missing a promotion or increment in the current year. Successful corporate life requires one to show some dedication for a quick run on the corporate ladder. By you, expressing your larger concerns with your exam dates and research paper submissions will move the tangent towards carelessness at work translating into effective growth at workspace. Secondly, if you are busy with both and being lucky if you are managing cutting out spaces for both work and study then you must keep in mind that you are probably going to not find time for any social activities, family functions and friends. Forget about your nightlife and movie time. Weekends are going to be tight as well. You are not going to get time to spend the money you are earning. You are neither reaping the fruits of your efforts at work and neither are you able to getting better grades that could make tumultuous difference to your final results and placements while studying.

To Conclude

Thus, MBAupdates has a simple solution on offer for you folks twisting with the idea of working and studying together. Work only if you require the money to fund your current or further education, or else, just concentrate of studying. You will gain much more from better grades than from half-hearted efforts at both tasks.

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Has The Global Slowdown Affected The Growth Potential For Indian MBAs?



The global economic order has been shuffling cards faster than the speed of light making job opportunities fluctuate in different countries. Situations are changing with each new set of incoming government data. So now, in such a situation how does an MBA having procured his degree from abroad, deal with the slowdown that is gripping the developed countries like the United States of America (USA) and even the United Kingdom? There are a certain things that the student must study in order to decide whether working there after the MBA makes sense. MBAupdates has researched some basic factors that must be used as parameters to decide your stance on working abroad after the MBA.

Economies and Finance

If you have done your MBA from USA or are even planning to do so, make sure to keep in mind that the US government is now promoting the smallest of the jobs to the American citizens vis-a-vis the earlier tendency of employing brilliant minded Indians. At the same time the salaries are now slightly lower than earlier as the employers are not only cutting costs but also taking advantage of the fact that the unemployment rate which is compelling people to take up any job rather than concentrate and bicker for salaries. UK has come out with a new rule that does not allow a non-resident, non-native to work beyond 2 years after their post graduate degree. This demands the student to come back to India to look for a job. Thus, rather than wasting time, coming back to your home country makes more sense; it is the opportunity cost that one must calculate.

Your Own Finance

Do remember that if you want to settle in India, it is recommended to pursue an MBA from India and if you really desire to settle abroad then a MBA from the same land makes more sense.
Reality Check: MBA in India will cost you around Rs 5-20 lakhs while abroad it will cost you anything between 15-20 lakhs or even more depending upon your institute and other aspects like the living costs. This makes it difficult for an India to work abroad especially if they have an MBA from India. Indian MBAs see more and faster growth in Indian than abroad. If you have a loan to pay then always work in the country where you have fetched your MBA from as this offers the best job deal. However, amidst the slowdown you will need to check for the job offer you get and the scope it has for growth. Running a basic cost-benefit analysis will help you assess your situation.

These are the two main factors one must study; the results will be subjective in nature they are based on the person financial background, the loan scene if any and their willingness to settle in the home country or abroad. However, few years back the time was good where student did not have to think about these factors but now when the job preferences in countries are under flux, that calls for assessing your own situation and position first is highly recommended by the MBAupdates.

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B-Schools Taking ‘CSR’ Very Seriously


The world of workplaces has undergone dynamic changes in the past few years with ethical, moral, environmental and sustainability issues doing rounds of the busy and ambitious corporate corridors. A company or an organization no more stands for mere products, sales, and revenue. It stands as a brand today. The value of this brand is dependent on many factors and amongst them Corporate Social Responsibility (CSR) is turning out to be a game changer. B-schools design and focus on training their applicants in a way that would give them options when they step out into the tough corporate world.

CSR reflects the onus of the organization, corporation or company to imbibe and respect the principles of ethics, morals and sustainability to the employees. The treatment meted out by the employees to a great extent affects the fabric of the company and consequently affects the brand name or image. B-schools have been stressing on educating the students about CSR and have managed to receive good responses from the same because of two important factors. With the created awareness about the CSR issues, there are many students who are willing to take off-beat career paths with non-governmental organizations and CSR departments of major companies.

Another riding factor is that most of the organizations, be it small players or multinationals today are willing to invest in CSR as their image is associated with it. Hence, students don’t mind taking this path as corporates are ready to pay huge sums of salaries to CSR employees and heads in their organizations. There is a lot of scope for work and growth in the CSR departments of organizations leaving students with no complaints for entering this sector. Business schools are taking up CSR seriously as the demand for CSR specialized students have been increasing and so are the companies’ demands for accountability, responsibility and transparency.

CSR departments offer students with a totally new set of responsibilities. It is no more about charity and visibility of an organization in the world, but rather a strategic move that can dictate investor relations and employee performances as well as company targets and achievements in all spheres. Philanthropy is just a part of the many activities conducted by CSR employees. It includes involving ancillary industries along with employee social and economic benefits in the final game plan of the company.

Amongst the good international B-schools offering good CSR courses to MBA students are Stanford, Harvard and Wharton. In India, some B-schools offer detailed two year MBA programs in CSR and ancillary field assisting students to develop a career in them. Amongst the few sought after B-schools in this field include the Narsee Monji Institute of Management Studies (NMIMS) and the Entrepreneurship Development Institute of India. 

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Cracking the SNAP Test 2012


Since 2009, SNAP has followed the same pattern. The number of questions also increased from 2009 as compared to the previous years’ question papers. Moreover, the overall paper format also became quite predictable. However, it is strongly advisable to keep in mind that it would not be a smart move to approach the test assuming that the format would remain the same this year as well.

Let’s have a look at each of the sections of the SNAP and analyze on the basis of the previous years’ papers mba.

The Quantitative section more or less covers the topics like Time and Work, Ratio and Proportion, Percentages, Time and Distance, Averages, Profit, Loss and Discount. The Data Sufficiency was present in 2008, absent in 2009, present in 2010 and again absent in 2011. Thus, if the alternating trend is considered, it would be wise to practice a few DS questions just to be on the safer side. Again the presence of Geometry and Mensuration has been very prominent in 2011. Thus, it is advisable to revise the formulae for area and volume of common geometrical figures. The Data Interpretation constitutes of a formidable proportion of the section. The questions are not as calculation-intensive as the ones in some other tests like XAT or IIFT.

The LR section is considered to be one of the most important sections in the SNAP and is scoring as well. However, the real challenge is to select the right questions to attempt as they come in sets. The fact that the simplest of questions are scattered over the different sets makes this even trickier.

The Critical Reasoning questions are not very popular in the SNAP but they usually appear in the LR section. In 2011, about 30% of the LR section constituted of such questions. This is a very significant considering each question was worth 2 marks and there were only 30 questions in the section. Bottomline? Revise these questions very well.
If the previous tests are looked into, the RC is not very predominant in SNAP mba. However, it is advisable to focus on Vocabulary, phrases and idioms, spellings and grammar which are very important in this test.

The General Knowledge section in SNAP is considered to be very tough and aspirants are apprehensive about the same. However, here are a few tips that SNAP test takers can consider:

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Should an MBA opt for internship without stipend?


Pursuing your MBA and pondering about whether you should consider those internship offers without stipends? Don’t think twice; just grab a great profiled internship without thinking about the stipend. Wondering why you should not be bothered about the stipend at this stage? Read on to find what MBAupdates thinks about your dilemma.

The work experience at the internships is the foremost exposure for a student to the corporate world. More than giving loads of moolah it allows you to see the office and workplaces you desire to work with. Secondly, it allows you to make correct decisions, may be helping you to filter what you like amongst various options, the sector you should choose, the dos and don’ts at workplaces and other social issues. Thirdly, the most important factor is that the internships supply you with great credentials. A Morgan Stanley, a KPMG, a Dabur, adds plenty of value to your resume which will be your real cash card for life! 

So what makes more sense; juggling for a few thousands while you are procuring your MBA or adding value to the resume? To encourage all the MBA students confused about taking up an internship; remember that sometimes most of the firms and companies do offer stipends after gauging the performance of the interns. So, don’t lose hope! As a cherry on the cake, they often promise employment post-course completion at an on-par or excellent salary. 

Yes, most of the MBA students have a heavy burden of loans or some even have to repay their parents and hence stipends matter a lot to students thinking their internship options.  Another misconception is that stipends can be used as a benchmark salary. This is not always the case. Even if one has not undergone any internship through their study program they are still eligible to get the salary as per market and industry standards and hence the salary after the programs has nothing to do with the stipend in any internship. What really matters is the impression and the response you receive during your internship that adds oodles of value to your resume and already existing credentials. 

Therefore, enrol yourself with the internship cell in your college, aim for the best companies hiring at your institution, beat the rest of the crowd to impress all and take up the internship without any doubt, irrespective of the stipend it offers. 

Point to note: The few thousands you earn during a 1-3 month internship are lesser valuable than what you could derive out of a well-placed established company on your resume! Think about it!

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Applying for an MBA? Market yourself effectively


The difference between the acceptance and rejection of your application could very well depend on how you fare at the interview. Despite the excellent credentials if you are not able to market yourself effectively, you could be looking at rejection.
Thus selling yourself plays the primary role in your success and this fact has to be accepted and worked upon.
Understand your target market:
Like any marketing professional would do while undertaking a project, understand your target market. Your B-school application process should always start with a thorough research about the B-schools, online and offline (if possible). Interaction with the current students and alumni will give you some deep insights about the school.
This would help you to articulate your reasons for application and convince the panel about the same. The panel will definitely be impressed if you cite certain experiences acquired during your research process.
Positioning is the key:
Every school focuses on training their students and thus transforming their career. However, these schools have certain needs of their own. After all, they have a business to run. They would be pleased to receive donations and other non-monetary help from their alumni.
For example, a B-school may introduce a new elective and would want applicants for the same. A smart applicant would show some interest in the new program introduced and thus may increase his/her chances of getting through.
Differentiate yourself:
With thousands of applications every year, candidates may find it very tough to differentiate themselves from others. The essay portion of the application is a crucial aspect which if accompanied with excellent examples about the personal experiences will impress the panel.
Don't be afraid of failure: 
Failure is often looked down at in our society. When it comes to highlighting your strengths, candidates have no problem at all. But when asked about their failure, candidates tend to be uncomfortable and slightly hesitant.
The key is to be honest and talk about your failures openly. Your recovery from this failure and learning from it is what the panel is more interested in.
Although negotiating your acceptance into a top MBA program seems daunting, by showcasing your individuality, you can do so with success. Research each institution and understand how your personal strengths and differences can benefit the programs of your choice.
Take advantage of the application's essay portion to illustrate your unique qualities, and don't shy away from discussing your weaknesses, as well as what you've learned from moments of failure. Effective marketing can take your application from good to great—and make all the difference in this highly competitive process.

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