Tuesday, October 7, 2008

ACE CAT--Some last Minute Tips

ACE CAT

Come November and students are frenzied lot! After days or even months of constant burning of the light lamp, it is time to fight the ferocious CAT. Anxiety pangs are a frequent phenomenon. But is CAT really as tough as it is perceived to be? Many a times the not – so - intelligent lot of students are able to crack CAT while the consistent high scorers come out of the examination hall broken – hearted. The truth lies in the unseen. Unlike other entrance test, like JEE for engineering or medical entrance test, CAT does not test your mettle in math formulae or your prowess in Queen’s English. Instead, Common Admission Test or CAT is essentially a race against time – a race which you can win.

Given below are a few tips which can turn you into Formula 1 racer for CAT!

Analytical skill: Being an application – driven test, CAT would test your analytical skills. It is mandatory to develop strong problem – solving skill rather than memorising the age – old math formulae and grasping the theories. Instead, you should grab hold of a good CAT preparation book and start practicing with the unsolved questions. Follow the 48-hours to analyse it. You are free to seek outside help during this time. If you are still confused then only see the answer. The most common mistake students can make is to look at the solved answer as soon as they realise that they are unable to work out a question. This hampers the building up of their analytical power. It is necessary the building up of their analytical power. It is necessary that you strain your brain to solve a question. As a result you would be able to understand the concept in – depth as well as develop sound problem solving skills.

Think long – term: Our brain functions like a computer’s memory. Whatever we learn either gets stored in the short – term or long term memory. One critical mistake which most students make is that whatever they learn gets stored in their short – term memory. This is why students forget about the concepts and principals which they have learned before the exam. To tackle this problem, follow the ‘Times 3 principal’. According to this principal, practice every concept/question three times. First is an attempt, then a solution and finally the last one makes for revision. Revision is an integral part of any preparation. You must not take this lightly.

Start speeding up: As mentioned earlier, speed is a major factor while appearing for CAT. You will not be able to suddenly start solving questions quickly at the time of the examination. Once you are through with the entire course, start giving mock entrance tests. The higher the number of tests. The better it is. However, do not err by thinking that this solely would increase your speed. Rather, you need to analyse every mock examination that you take to ensure that you don’t end up making the same mistakes again. Keep a note of time that you take to solve the paper and the marks that you attain in every mock test. A better option would be to track your rank at a national level.

Work smart: Good decision – making skills go a long way in helping you crack CAT. It would be a better idea to deal with simple and less time – consuming questions. Once you have attempted the easier ones, your nervousness would take a back seat and you would be geared up to handle the difficult questions. This in turn would also increase the probability of getting the right answers for such problems. With the CAT exam going online, the test pattern might change considerably. Hopefully, it would follow the structure of GMAT and GRE entrance examinations. It is thus critical to familiarize yourself with the computer and internet as the test is conducted online. For this, you should take numerous CAT mock tests which are easily available on the Internet. please visit http://www.quantaptitude.com/ for some os these.

Note: This article was published in the Educations Special Megazine of Mail Today, An India Today group newspaper.

Tuesday, September 2, 2008

Online Education in India

The scope of Online Education in India
Although online education has been a comparatively new entrant in the field of Indian education, it’s already gained a presence in the education sector. And why not, its common knowledge that the current education system with its state funded colleges and universities cannot keep up with the demands of the students. Lack of infrastructure, crowded classrooms and understaffed faculty add to the dismal state of public education. The exorbitant tuition fees of the private colleges and universities have further affected the reach of education for many sections in the society.
The need of the hour is an interface that can make good use of the available resources and provides guidance and creative learning solutions at an affordable price. Online education certainly fits the bill for the above requirement. The online educational products are targeted at school children, as well as students who are preparing for national and international competitive exams. The products can be classified into the following segments:
Online curriculum based programs
Learning solutions for school students
Online tutorials for school children and students of competitive exams
Online test matter for competitive exams like CAT, GMAT, GRE, AIPMT, AIEEE and more

Online curriculum based programs are targeted at children from classes IX to XII. Greycells 18 is one of the companies involved in a similar venture although they use both television and the Internet as their product medium. By hiring people with teaching experience in top institutes like IIM Bangalore, IIT Kanpur, IIT Roorkee, IIT Delhi and Pittsburg University; the company intends to provide secondary Physics, Chemistry and Mathematics learning solutions for CBSE and other related state boards.
Educomp Solutions is another well known name in the online education business. One of its product module, Smart Class is a technology-enabled learning solution that caters to private schools in India under the BOOT (build, own, operate and transfer) model. The Smart class system includes a virtual school, where parents, teachers and students can communicate with each other. Teachers can upload assignments that students can download, as well as make available important information for parents to view. In the financial year 2005, this segment alone contributed INR 2.95 Crore of the total revenue.
But it’s the online tutorial product which is the golden child of the virtual education sector. 2008 witnessed a 150% growth in demand for online tutorials in comparison to 2007. Currently, the online tutorial market in India is worth $27 million (INR 105 Crores). As per the report by brokerage firm CLSA Asia Pacific Markets, in four years, this value is predicted to reach around $280 million (INR 1,092 Crores). Online tutorials not only provide good content, multi-media modules, test papers and recorded sessions; it also facilitates live real time communications between students and teachers. www.2tion.com is one company which has won the student’s loyalty for online tutoring.
Online tutorials have captured the students’ attention as it allows them access to the very best of tutors, geographical locations no bar. A student living in Sangli can have access to tutors teaching in IITs. Thus, a student’s area of choice has widened to include different cities and countries in his selection of tutors. The flexibility of online tutoring is immense. As students can attend the tutorial sessions from the comfort of his homes, travelling with all its incurred costs can be cut down. Besides that, it also saves time and energy. Students also have the provision to clarify their doubts anytime of the day or night through email or chat.
The online availability of test papers for competitive exams like CAT, GMAT, GRE and AIEEE have led to massive online following by various student communities. Web 2.0 interface has further opened up the channels of communications between students and their peers. This means that students can now get feedbacks and recommendations from fellow net users about test matters, online solutions, tutorials, institutes and much more. Perversely, if a company engaged in online educational products or services tries to cheat its user base, then his credibility can take a big hit in forums and blogs. Some of the more popular sites in terms of active user base include pagalguy and goiit.

In spite of the progress of online education, there is still much ground to be covered in India by this sector. The first hurdle that they face is the lack of computer education. The computer is still an item of luxury and it will take some time before we can expect a PC in every home in India. Another important point to be considered is the dismal broadband penetration. The July 2008 report by the Telecom regulatory Authority of India (TRAI) testified that only 4 million users have access to broadband connection. For a country with a population of over 1.1 billion, this figure is indeed dismal.

The success of online education is limited to the metros and tier 1 cities where students are more net savvy and have access to personal computers. For all its worth, online education is still very much in the periphery of the education system in India. This is partly because most Indian schools still follow a didactic system of teaching where the use of technology and multimedia is limited. Parents are also not too aware of the benefits of online education. This means that online education remains a backend support which cannot replace the traditional method of classroom teaching. Only time will tell whether online education can make proper inroads into the heart of the educational system of India.

Wednesday, August 13, 2008

Demystifying MBA

I have been asked many times by MBA aspirants about job profile of a Operations MBA and its job prospects. This blog is an attempt to clarify these questions for the larger community.

MBA in Finance

Career
: With global trends impacting the financial sector, there is a demand for finance professionals
• With a new set of skills, resulting in careers such as Financial Analysts, Financial Planners, Financial Advisors and Financial Managers
• People who have an eye for detail & are research oriented can go for a finance MBA.

Skills Required: Finance calls for a unique set of skills.
• It is ideally suited for you if you are outgoing and inquisitive by nature.
• You will use your mathematical aptitude and ability to take your organization's or individual client’s goals, resources and options into consideration while making suggestions for their continued financial growth.
• This is one area where employment opportunities are influenced by your academic performance and previous professional environment success.
• Finance people-the bean counters, as they are called-are viewed as pessimists.
• If you are good at number crunching, have a flair for juggling numbers & think you can manage the party well, then finance is the job for you.

Salary Package: Starts from INR Rs 10.35 lakhs Per annum for a fresh MBA and according to foreign standards can earn around US$75,000 salary in the US $ depending, of course on skills & experience.

Famous Colleges: All the IIM’s. i.e. IIM Ahmedabad, IIM Bangalore, IIM Kolkatta, IIM Lucknow, IIM Indore, IIM Kozhikhode, FMS, ISB

MBA in Marketing

Career
: Those who have excellent communication skills & have an outgoing personality should opt for marketing.

Sales Management - responsible for achieving of sales target of an area
• In sales & Mktg., there are 2-3 areas where an MBA is recruited for
Brand Management - responsible for successful management of brands through various strategies and achieve market share.

Skills Required: Ability to plan and execute marketing ideas
• Ability to develop ideas which lead to growth in sales
• Ability to mobilize resources to achieve the set objectives
• Communication skills - written & Oral
• Interpersonal skills
• High energy levels and enthusiasm to work
• Analytical skills
• Marketing people- the optimists.
• In short, if you are creative & have zeal to sell, then there’s no doubts you should be in marketing.

Salary: Starts from Rs. 4lakhs per annum approx and in foreign standards of US $67,000 approx

Famous Colleges: Beyond IIM’s, Mica is a very good college for Advertising and Marketing.

MBA in Human Resource Management

Career
: One very important trend in the recent times has been the growth of human resource outsourcing.
• HR outsourcing is the outsourcing of peripheral but necessary administrative tasks such as payroll, benefits, education/training, recruiting personnel, administration, to realize economies of scale and achieve standardization of services .
• With an increased focus on people issues, HR guys have everything going for them.
• Ever increasing demand for experienced HR professionals.

Skill required: Ability to understand and deal with people of all levels
• Ability to cope with unstructured situations
• And the person should have the 4 Cs –Creativity ,Calmness, Conceptually sound ,Convincing ability .
• Need patience & perseverance.
• Someone who is passionate about resolving people issues will be the right candidate for pursuing a career in HR

Salary Package: Average Salary start from is 3.5 Lakhs per annum and as per the foreign standards it goes up to US $67,000 & above approx per annum.

Famous Colleges: Sadly, none of the IIM’s are famous for this specialization. So if you very keen on MBA in HR, look for XLRI and Symbiosis as your first choice.

MBA --Operations

Career
: 'Operations' in the management world encompasses almost all the areas that reflect the efficiency of the organizations in the area of background work and execution.
• It includes inventory management, vendor development, purchasing management, and also a few other areas.
• It demand multi-disciplinary skills viz. supply chain management, enterprise resource planning and also all cost optimization initiatives.
• A typical career would see one handling a few plants/ vendors initially, followed by the responsibility for an entire factory and eventually undertake a more strategic view like global sourcing / alternate materials / imports etc. but, at each stage there is a lot of responsibility and risk.
• Demand for operation management in the areas like BPR (Business Process Re-engineering), ERP (Enterprise Resource Planning), supply chain management, which integrates all functions offer a great scope for a cross functional specialist .

Skills required: Integrity, ability to negotiate, ability to remain calm in the toughest of situations (there is a fire almost everyday, somewhere) and lastly good coordination skills coupled with technical knowledge

Salary Package: Starts from 7.14lac approx onwards. In abroad maximum salary is between$25000 to $60000 per annum. Approximately.

Famous Colleges: NITTI, Mumbai leads the show for MBA in operations

MBA in IT

Career: With a sound understanding of business concepts is seen as ideal for the job of a project manager in software development activities, such as developing an on-line network with company distributors across the country.
• A fresh MBA(IT) starts at the level or a software development engineer (almost at par with an engineer or an MCA) and is actively involved in coding.
• Students interested in careers in management consultancy, software or database development, enterprise management systems, telecommunication and business analysis.
• They are prepared to help shape twenty-first century organizations in a rapidly changing, globally competitive, technologically sophisticated environment.
• Students usually acquire positions in the top management consulting firms or as strategic analysts in the transportation, telecommunications, and financial sector.

Skills required: Graduates are expected to possess the appropriate knowledge, experience and skills to adapt to change in this dynamic field through a lifelong learning process.

Famous Colleges: Pick any IIM

• IT graduates play essential roles on the business team, typically designing and implementing hardware and software solutions to business problems.
• The program is designed to develop a diverse and integrated group of experts armed with the necessary skills for buildiwwwng new entrepreneurial ventures.

Salary Package: Starts ranges from 10-lacs onwards approx per annum and by foreign standards around $63210 per annum

MBA in Retail

Career
: Indian retailers underwent an experimentation phase wherein new formats (department stores like Shoppers' Stop and Pantaloon) and product categories (consumer durables retailing, music retailing etc) were introduced.
• World wide, the retail segment has performed exceptionally well since its inception in the 20th century.
• Retail is currently the biggest industry in the world and 25 of the top 50 “Fortune 500 companies” are in the retail.
• Introducing new marketing strategy as the country marched into the new millennium, the organized retailing scenario began to stabilize, specially over the last 3-4 years when players like Big Bazaar, Barista, Pizza Hut, etc became successful in establishing a national footprint.
• This was also the stage when international retailers like McDonald's, Subway etc adopted a mix of global and India-specific strategies in order to entice the local population.
• The students for starting a career can work as a Trainee Manager in Stock Control, Shop Floor, Sales, Merchandising, Administration, or Purchasing and Brand Management

Skills Required: Excellent Oral and Written Communication Skills
• Good Interpersonal & Negotiation Skills
• Profit Development against Target
• Should be involved in the Marketing survey

Salary Package: Ranges between 4.5lacs to 12 lacs

Famous Colleges: NMIM in Mumbai, Symbiosis Pune.

I hope this would be useful for students.

Saturday, July 26, 2008

The Most Uncertain thing in Life--Life itself

We all try to create a lot of security for ourselves. These various forms of security i.e. emotional, social and personal are needed in anticipation of contingency in the future. But the most sought after security that we all chase is the financial security. The struggle for this security starts right from our childhood. Your parents scolded you for scoring low marks even in one small unit test. That scolding is due to the fear that if you do not study well, you may not make much money when you grow up. You chased seats in Engineering or Medical Colleges for that financial security only. You are under constant stress, in the prime years of your life for this only. All this is planning for the future, to gain that elusive financial security. Little do you understand at that time is that “this struggle for security” is actually never going to end.

There is always a next step in life. The next step maybe the best MBA programme. The next being the best paying job. The next is the race to go to US and earn in dollars to make money grow faster in your bank account. The next maybe is to get married and build a big house. Then one more house from the objective of investment. Next comes planning for your old age and retirement. Where do you actually stop?



In order to create this security, we always live in an atmosphere of fear. When you are in school or college, you fear the tests and results, never enjoy the learning and education. When you are working, this feeling of scarcity and fear is always there. This insecurity and fear becomes a constant phenomenon. It stays with us for our entire lives, and in wake of security for future; for which we keep destroying our present, which we thought would be the bright future.

Then there are other securities which we chase, like emotional and social security. We like to have a status in society, among the peer group, about which we discussed the first chapter. For the emotional security we chase love, a partner to share our emotions.

But while chasing all these securities, we always stay insecure. We develop constant insecurities in our mind. We are insecure all the time, and as we keep going we keep developing newer areas of insecurity. Please understand one thing here, and consider this as a law. The law is something which is there and may not have a base, but since it is law, it has to be followed. So the law here is “Insecurity is a state of mind, It has nothing to with your actual situation”.

Now in order to overcome the fear and insecurities, we keep running for our entire lives. Most of the people don’t ever question the logic of the system they live in, be it job or at home.


But what most of the people don’t realize that losing a job, scoring low marks or losing your love is not the most valuable things for which we plan and try to secure them, the most uncertain thing in life is life itself.

People tolerate all kind of atrocities in the office to keep themselves in the job thinking that this would give them financial security in old age. We pressurize our children to study hard and score very high marks. Under this study pressure, the children don’t have time for other things like sports and general entertainment. This kills their confidence and individuality from inside. Sometimes this pressure is so high that children commit suicide in fear of scoring low marks immediately after an exam in which they haven’t done very well.

Are we sure that we will be alive tomorrow? You can protect yourself in the best possible manner. You can hire the best of security guards, build up the best of cars with all safety equipments, get the best driver in town to drive you through but the risk can only be mitigated. One of those security guards can turn into a traitor and kill you with his own hands. You have the best car and the best driver but all the people on road are not like that. Your driver in the best car could drive in the best possible manner but a drunken driver on a lorry can still send you to the almighty with a slightest hit. A hurricane Katrina or Tsunami can catch you unawares.

Here is a true story to illustrate this issue. There was a boy from a middle class background with his father working in a government organization in India. After high school, he went to a big public school for higher secondary. As he was studying on a scholarship in that school, he used to see a lot of students from very rich families. Those students used to enjoy a lot of luxuries in life of which he could only dream of those days. He made it a point that he has to enjoy all these luxuries in life. From that day, his life changed completely. He studied 8 hrs a day after school to clear Joint entrance examination for Indian institutes of Technology. He cleared it easily and went to IIT. There also, he studied day and night for four years topping in his branch. Like most students, he gave Common entrance test and joined Indian Institute of Management. Again, toil of two years finally got him a job with one of the leading investment banks on the Wall Street. He was really happy that 8 years of sacrifice is finally going to pay off. He reached New York, and started working, one fine day he got the news that his brother had died in a road accident. He wanted to go back for few days, his employers disallowed, at the end; he quit the job and went for cremation of his brother. Now he had not talked much with his brother in those eight years, the whole dream broke down for him. He didn’t understand what he was chasing and he got into deep depression thereafter.

Now think for a while, you must be knowing someone around you who has died an untimely death. You must have gone to the funeral ground sometime in your life. How in those one or two hours, you lose all your stress of life. But as soon as you are out within two hours you are back to your hell. So the point is we think we are never going to die.

The above story is one of the biggest motivations for the authors to take up this challenge to write this book. Now everyone understands the moral of the story, which is the title of the chapter, the most uncertain thing in life is the life itself. As per famous quote of Beatles lead singer John Lennon:

“Life is what happens to you, when you are planning other things”

Ironically, John was himself shot by a crazy fan, at a mere age of 40, at the peak of his career. What do we learn from all these examples, with due regard to the ambitions and the inspirations for a better future, never get your present affected by them. There are million such examples you will find but learning from that maybe very little. Actually we have lost the art of living life in a fearless and free manner. Think about the activities which you have undertaken, which gave you no financial or material benefit. Make no mistake, we are not talking about charity, we are taking about the things which you used to do when you were young. Today, actions like going to park, sitting with friends, sports and so on look like waste of time.

You may say I still meet friends, go to park and take a walk. But now you are reducing your weight or meeting up friends for a crib session. Things are not the same, the point is, and today you even plan your sleeping hours. If you sleep an extra hour, the first thing that comes in your mind is that one hour got wasted. But why is this important? This is important as life is uncertain, so the joy of today cannot be completely sacrificed for plans of tomorrow.

Here is a mythological story if you feel otherwise. This story is from the Mahabharata. During the Vanvas(stay in jungle) of the pandavas, a beggar came to Yudhishter asking for some clothes. Samrat Yudhishter was busy so he asked the beggar to come the next day. The younger brother of Yudhishter, Bhim overheard this. Bhim set out to a village nearby, blowing a drum, singing and dancing in joy. People were amazed to see him doing this, so someone asked him “what is the matter”. Bhim told him that, “Now, I am the brother of a god as Yudhishter has just become one”. After a couple of hours, this reached Yudhishter that Bhim is claiming that my eldest brother has become god.
Yudhishter called Bhim and asked for the explanation. Bhim told him,
“You promised the beggar to come and take the clothes from you tomorrow, which means you are sure that you will be alive tomorrow. I am not very intelligent like you but I know only God knows who will be alive tomorrow. I thus interpreted that you have become God, which is why I was so happy.”
Yudhishter got the message from Bhim and we hope you all will also get the same.

There are so many stimuli every day in life, which we fail to acknowledge as we are busy planning tomorrow. We prioritize things as “important and not important”. We feel playing with kid can happen later, we feel that we can watch movies when we are settled, the best of all, we can get married only when we make a certain amount of money. Even if that takes me over 30-35 years of age.

Now the question, does it mean we should not plan at all and live for today only. But are we anywhere near there, all we are doing in life today is planning, planning and more planning. We are planning of 20-30 years and we not even sure of next 20-30 minutes. Whatever said and done, death is a certainty and the timing of it is uncertain. This is the biggest problem, for an unlimited life, all the planning is fine, but with the death being a fact, all plans are waste.

Here a modern day incident, which happened in August, 2007, which illustrates the same fact. Here is the news clipping of the incident:

8 –LANE BRIDGE FALLS INTO MISSISSIPPI RIVER

A 40-year-old interstate bridge over the Mississippi river in Minneapolis, US, collapsed on Wednesday during the evening rush hour, killing at least 11 people and leaving over 20 missing. Three of the four sections of the 8-lane bridge buckled and fell into the water and onto a freight train.

Officials said the bridge had been given a clean bill of health three years back. An earlier 2001 evaluation reported that there were preliminary signs of fatigue on the steel truss section under the roadway, but no cracking. There was no need for the transportation department to replace the bridge because of fatigue cracking.

We choose to give this example whereas there are hundred such incidences occurring every month in India. The reason is that America boasts of being the most advanced nation with safest and finest infrastructure. But all these safety measures taken by human are nothing against the wishes of the almighty.

The point is that when the tomorrow is so uncertain, why live your life for it. Many people commit the mistake of leaving a lot of good things to do for the future. But that future never comes. There is a lot of stuff that you can’t do today but there is a lot that you can. All of us have some responsibilities, some commitments to fulfill but we are not sure if we can spare two minutes to just stand up and give clothes to a needy person. The point is, there are so many small and little things we can do everyday that would give us immense pleasure. We leave all of them to get something really big but we might not be alive by that time.

So do not leave everything for the future. We are living in present and let us try to make it as beautiful as possible. Let us do things that we like right now rather than waiting for the right time to come.

Some of us are in this trap of not knowing what we want in life. Basically, most of us want everything in life. We want great and successful careers that too in minimal of time. We also want to have an enjoyable family life. We want to contribute to the social causes also and we always want to help our friends in need.

We want to attend religious and social functions as well as kid’s parent teacher’s meetings. But just think, is all that possible in a day of 24 hours? Some of us are god gifted and maybe able to manage this. But the percentage of these people would be less than 0.1%. So what about other 99.9%??? We want to do everything; we have passion to do everything, we have skill to do everything but not the time.

So, we need to lay down our priorities among these. The priorities that fit me as an individual, not my peer group, not of my father and so on. Actually we are chasing a perfect life, and want everything in life. This strange conquest takes us nowhere and to attain peace of mind, we read spiritual books, attend yoga camps and so on. But we will never understand the simple concept of life, we just want another gimmick for ourselves. First we make our lives complicated, then we look at complicated solutions. Now the solution is simple, and can actually be written in one page. But we have written 100 pages of this book to give that solution in order that you are able to comprehend it.

But you can read tons of bulky and complicated literature, wherein all these conclusions have been achieved with complicated stories and measures. The solution is simple and straight, and very objective. Know the facts, like the ones we have discussed in all these chapters, in the most objective manner possible.

You may say, yes I live for my family and I am working 100 hours a week for my family. But is that what you want or your family wants? If you travel 15 days a month, does you wife and kid want that? If you never enjoyed movies, sports and other things, while you were preparing for entrance tests, and now you don’t enjoy it anymore, since the age has passed, who is to blame?

Therefore, please understand and appreciate the invaluable things in life. These are your family, parents, children, your own health, your five favorite passions and above all your own life. Take good care of these and always put them on high priority. Rest all are materialistic things which are good to have but not at a cost of these things. But are you doing this? This is the question which you need to answer yourself.

The last and one of the most important part, If you think you are going to make this change in your life, when are you going to do it ? You need to do it now!! There is no tomorrow here, that’s the essence of the entire story. Whatever you need to do, do it now! Or at least do a fair percentage of it now, don’t do 100% of what you want but stay in the horizon, achieve 80-90% of it now.

So, enjoy your life to the fullest, live like the CEO of your life, each moment is your choice, you are the owner of this universe, it will be the way you like it to be. Since you see it with your own eyes and interpret it with your own brain. You are the ultimate, and you control everything.

This is being the CEO of your life!

The Chapter is taken from the book, 'Be the CEO of Your Life' written by Sandeep Amar and I. You can buy it online at

http://www.flipkart.com/ceo-your-life-amar-book-8184120942