1.Business Ethics: What do MBA students need to learn?

admin — Tue, 27 Sep 2011 07:40:57 +0000

Master of Business Administration or more popular in its abbreviated form MBA is all about having a thorough knowledge of the different aspects of the business and to ensure an effective management as well as co-ordination of these different sectors and not to forget the business ethics. The free market economy, the consequent competition, the division of the business into four broad departments (production, human resource development, marketing and finance) – all these requires specialized knowledge if any business intends to come out with flying colors in this cut throat competition.

Under such circumstances MBA degree holders are becoming the ideal choice for most organizations to take care of the increasing demands of the fast-moving and unpredictable economy. A plethora of business schools offer different types of program within MBA degrees and different specialization. While some people choose for a more general MBA that allows them to keep all the options open, most are aware of what they specifically want as far as career is concerned.

A post bachelor degree on business administration in general inculcates leadership qualities in a person and enables him/her to lead the different ventures and programmes that the organization undertakes. He/she is trained in order to develop the required skills to face the ups and downs of the corporate world. Another important contribution of the MBA program is to encourage innovative and original thinking. What an MBA graduate must learn and is expected to do for an organization are the following-

Develop competent and cost-effective business strategies
To implement the same with finesse
Identifying the probable risks and loopholes in any plan
Assisting the company in its investment decisions- identifying arenas of finance and cost of financing
Determining the company’s knowledge assets
Making the optimum utilization of the available human resource
Effecting marketing of the service and products that the organization offers
Most importantly coming up with innovative measures to generate more revenues and bring more business to the organization.

1.Do you need an MBA to climb the corporate ladder?

admin — Tue, 27 Sep 2011 07:40:11 +0000

No wonder MBA is the most sought for career option these days. The ample job opportunities with the world’s leading MNCs, a fairly handsome package and the potentials for huge growth in terms of career makes MBA the buzz word in the professional realm. Not only graduate students from different backgrounds even a working personnel finds it difficult to ignore the charms of an MBA degree.

Keeping in mind the substantial amount of money that one needs to invest and the recent market scenario the question is bound to arise- do you really need an MBA to climb the corporate ladder?

The success story of Apple (Steve Job), Microsoft (Bill Gates) and a few others makes it evident that an MBA degree is not the only way to record success in this extremely competitive market. All you need is an out of the box thinking and the motto to do it in a new way. However aberrations are not the rule.

Studies and statistics suggest that when it comes to skills, handling the pressure of the corporate world, coming up with ingenious strategies and performance, CEO’s with MBA have always enjoyed an edge over their counterparts without the golden degree. If not a necessity to bag the best job in the market, an MBA degree definitely has a bearing on the performance of the employee, when it is about moving to higher echelons of management, to have a say in his/her remunerations and many more.

What an MBA does is to simply unleash the creative abilities of a graduate. An MBA degree from a leading business school and you are already considered to be a leader. It is like an emblem of brilliance. Not only the development of skills to survive and sustain in the demanding corporate world business schools are the avenues to build business contacts that are vital for a successful career.

How the right mentor can motivate you as you prepare for CAT

admin — Tue, 06 Sep 2011 08:43:32 +0000

Many small things and incidents contribute to our thought process. We often use words like inspire and aspire when we talk about success, difficulties and achievements.Most of us have someone in life that we looked up to. They are our mentors. He can be your father, teacher, some fictional character or any eminent personality. At times we ourselves do not realize what important roles these mentors play in our life. When talking about difficult situation, the thoughts and guidance of these mentors help a lot.

When Preparing for a competitive exams like CAT, it is vital to have the right guide,friend and mentor in our life who will not only guide us but also motivate is when weare low. He may or may not know your subjects but he certainly knows how can heshow you the right path so that you the reach the right destination. CAT exams puts alot of stress on our minds as they questions are tough, there is negative marking andyou have to compete against the best minds.
Your mentor will boost your moral that will help you to stand this stress which reallyimportant as stressful mind cannot absorb anything. You should be confident, relaxedand attentive when you are preparing for CAT exams. Many times students get nervousand are unable to perform to their full potential. It is said a right mentor can tell youhow and when to swim against the tides but it’s you who has to cross the river.
So keep in mind, unlike other academic exams, CAT is not an exam when you just needto study and succeed. You need to have the right guidance and for that knowing theright mentor and learning from him is a must.

Work culture in India

admin — Tue, 06 Sep 2011 08:42:08 +0000

Work culture in India is distinctive and differs from the culture abroad in many ways, some differences being major and some very minor. In the finals set of the two blog series we introspect the work culture in India and abroad; thus hoping to help the MBA students who are finding it tough to decide whether to take up a job in India or relocate abroad! So here it goes…

The gender divide is still strong in India:

Gender issues differ from environment to environment. Even though there is a trend towards open-mindedness and equality, the working environment in India has been witness to discrimination against women. This discrimination if not physical and obvious, is often mental and subtle. Due to the male dominated system, it is still difficult for men to accept orders from women and this can be cause for stress at the workplace.

The workplace is not always neutral territory in India where men feel threatened by women superiors. To make her presence felt and to move up, a woman has to be gutsy and firm.

Although discrimination exists abroad also, the redressal measures are much more effective and quicker. Also abroad people are more open to the idea that discrimination exists. Here there is a tendency to shrug it off, especially if it is mental. It is easier for women to correct an uncomfortable situation abroad. The office structures are now showing changes in terms of making provisions.

Another aspect that the work culture in India is gradually incorporating is the informal attitude in the workplace.

Earlier the workplace was a separate compartment, with its own set of codes and rules.

This compartmentalisation made it a bit rigid. Now the culture is opening up, with the concept of dressing down, flexible working hours and self-formulated working strategies and goals taking precedence as compared to a culture where senior level employees were involved in goal formation and the relatively junior employees in implementation.

This has been seen as a positive change brought about by the emergence of global companies, which have bought in with them a more relaxed and laid-back style of

working. This culture is relatively new in India and involves much more freedom as

compared to the past. Abroad, the office atmosphere has mostly been more laid-back and less structured. Dress codes and behavioral codes were not very important and employees had more freedom. Out-of the box thinking though not synonymous with attitudes is also more associated with a culture that is more tolerant. The Indian work culture involves achieving goals, which the supervisors and superiors have set, and also incorporating these into the personal goal agenda. Abroad there is more freedom to set your own targets and goals and decide the best way of achieving them. Constant

supervision is not a part of the agenda.

An interesting feature is also the after-work culture. Named aptly the ‘work hard, party harder syndrome’, this is directly associated with the yuppie culture.

This is relatively new in India and more established abroad. It is a direct import of the corporate culture. Owing to a hectic and continuous commitments and constant targets and goals, office hours are very stressful for most people. Thus people mostly tend to take the complete weekend off from work and enjoy and relax. The same rule goes for long vacations, where workplace related issues are not generally kept in mind. In India, there is more of a tendency to carry work home, to carry it along on vacations. Even

though the young Indian is definitely taking time off and enjoying, people tend to be constantly on call. People tend to put their life on hold for work and with gadgets such as cell phones and laptops, which ensure 24/7 connectivity anywhere anytime, this, has become a very common syndrome.

India by nature is a relaxed country and so are the people. Decision making here is generally a slow process and Indians dislike being hurried up too much. The bureaucracy has also encouraged this impression. People tend to take their time in making their decisions. This is a result of years of work culture where fast and instant decision-making was not given much relevance. Abroad, since a lot of companies have pro-active policies and susceptible to market forces, decision-making and quick decision-making at

that is considered to be very important for sustained success..

Entrepreneurs are a relatively new phenomenon in India and the same can be said of venture capital funds. The tendency to take risks is limited in India, and most people prefer to play it safe. This reflects in the overall work culture and it is not easy to incorporate innovations. People have an in-built resistance to innovations at times. Till now, entrepreneurs and businessmen were also not encouraged by the system. Abroad the work culture is relatively more encouraging of innovations and risks. People try and

convert their ideas into successful business ventures.

To sum up, one might say work culture is a very distinctive feature and differs from place to place. It is a sum of different factors including the employee attitudes, local customs and company policy. Other differences may also arise in terms of communication, innovation, leadership etc and quite often are specific to the place of work and the company. To truly experience the culture one has to actually work in a specific work environment. India as now a global hub and is providing growing work opportunities. It is a country with a rich cultural heritage and increasingly globally competitive standards. The challenge now is to develop a work culture, which would meet global challenges and incorporate competitive standards while retaining its

traditions and customs.

Work culture in India and Abroad (Part 1)

admin — Fri, 02 Sep 2011 11:48:06 +0000

Work is an integral part of everyone’s life and work culture plays an important role in shaping our lifestyles. In the recent years work in India is increasingly acquiring a global identity. Multinationals, Call centres have brought in with them global ideas and standards of work. This has definitely made the world a smaller place and blurred the boundaries. Work culture is an aspect of the office place, which has its own specialties and intricacies, based on local customs and traditions and company policies.

How people work and focus on challenges is often seen as a direct extension of what their personal values are and how they perceive commitments and challenges. Work culture in India is distinctive and differs from the culture abroad in many ways, some differences being major and some very minor. In this set of two blogs we introspect the work culture in India and abroad ; thus hoping to help the MBA students who are finding it tough to decide whether to take up a job in India or relocate abroad! So here it goes…

Hierarchy is definitely an important factor in the Indian work place and duties are clearly defined for each position.

Work culture in India involves clearly specified levels or positions. Senior colleagues are respected and obeyed. This hierarchy sometimes translates into limited communication of ideas. Criticism of any ideas or policies has to be treated with diplomacy and tact or it could lead to problems at the workplace. Open communication is not the easiest thing to do in the Indian workplace.

Abroad often the hierarchy of positions does not occupy a very important position.

The workplace generally sees a flat level structure for a group of positions with similar responsibilities. New ideas and suggestions are more welcome from the employees no matter the level. It is easier to express changes and new ideas and there are less chances of a fall-out or displeasing anybody. The hierarchical positions are not very clearly specified. There workplace has more openness as far as communication is considered.

Merit although obviously important is sometimes not the sole consideration in terms of promotions and perks.

Work culture in India has sometimes also earned the infamous distinction of being a people-pleaser situation. Indian work culture involves a lot of impressions. The boss or the supervisor is the most important person, with many people staying back late, putting in overtime for a better impression. This does no necessarily mean better or more work. This is not true of all workplaces but it does happen in some companies.

The same is not true generally abroad, where merit is mostly an important

consideration. The quality of the work done also plays an equally important role.

The work, rather than the way of working, is given importance. This is a result of the freedom employees have in terms of setting and achieving their own goals. Personal equations with the supervisor and bosses are not the major factors in consideration.

The inter-personal relationships often extend beyond the office also and there is a lot of interaction between the employees, which is an extension of the culture.

Work culture in India has a considerable advantage in terms of being more personal and involved. Indians are by nature warm and involved people. The professional relationships tend to become personal ones also. Abroad generally the professional relationships differ from the personal equations and don’t always extend beyond the office. Although companies provide platforms for employee interaction, people abroad tend to prefer to keep their personal and professional relations separate.

Stay Motivated During Your MBA Exams

admin — Fri, 02 Sep 2011 11:39:39 +0000

Studies have been the best known route to reach the success destination. An

individual always has the option to go for the field in which he is interested. With the growing corporate culture around the world, the need for a degree that imparts the management lesson has become important. And when it comes to management degree, the first choice is MBA.

It is not so easy to get an MBA degree as lakhs of students appear every year and only few thousands are selected for the course. Apart from dedication and hard work, one also needs to be motivated. Many students loose the rhythm after qualifying for the B-school and take the degree for granted. You need to keep the momentum building as this period will decide your future.

The main reasons these MBA are popular are due to the high salary offered after the completion of courses. To achieve this one needs to work hard with enthusiasm and stay motivated so that he can endeavor to improve everyday. The curriculum is something that one can mug up few days before; therefore, constant studying is important.

During the exams when we do not know the answer of couple of questions we tend to get nervous. To avoid this situation we need to get ourselves acquainted with the subjects. The best idea to gain confidence is to read books where the management gurus and eminent writers share their thoughts and experiences of life which helped them to sail through the rough tides.

However cliché it might sound it cannot be denied that failure is just a stepping stone towards success; so do not be discouraged by failures but move ahead. Success in life does not come easy and you need to pay a price; keep in mind that at the end your effort for the CAT exam is worth it.

Everything You Need to Know about Corporate Etiquette

admin — Tue, 30 Aug 2011 07:27:25 +0000

A person, who is well mannered and is well educated about the etiquettes, is a person who is respected all over. To make a proper impression on your co-workers and your employers, you need to groom your self and put your self at your best behavior. In this article, we shall discuss, some of the essential etiquettes that you need to keep in mind in a corporate world. Let us then take a look at some of the most of the important ones at some of the important occasions, like while giving a public speech or at a conference or meeting. Let us take a situation to work upon. Let us take it to be a public speech that you need to deliver.

The foremost thing that you need to remember is to try and keep standing while you speak. Try to make most of the delivery of your speech while standing. There are few associated things with this too. Do not move too much while you are speaking. Too much movement might give an impression that you are either too nervous or too impatient to finish off your speech. Be flexible and at ease, but at the same time, make sure that you look patient and composed and not too impatient.
Balance and control the volume of your voice. Some are inaudibly low voiced while some are too loud to be listened to with attention. It is very important to strike a balance between the two extremes. Volume control becomes extremely important to make a good impression on everyone around. If you sound good, what you say would be taken into account with a little more attention and care.
Do not make a statement only. Put forward your opinion in a manner in which the audience can feel involved and be a part of it. Engage and involve the audience and then they would listen to you with greater interest and attention.
Be expressive. It might sound a little vague to you when you are told to be expressive while you are giving a public speech, but often people miss out on the importance of it, while it can have significant effect on your speech. There are people who have good content but are not expressive, which often tends to make the speech sound dull and monotonous. Be expressive and use your entire body while speaking and not just your mouth. You might have heard young children finding some teachers to be very interesting, while finding some to be extremely boring. This often depends on the expressiveness of the teacher. Irrespective of the content and the matter, a speech or a lecture can often become very interesting, with a little bit of added expression.

This was mostly about giving a speech to an audience, but on a broader level. You must make sure that you have an attitude that is neither too subdued nor too overbearing and loud. Always make it a point to dress up well and work towards improving and developing your personality and behavior.

Fine Dining & Power Lunches: Tips to Develop the Perfect Corporate Etiquette

admin — Tue, 30 Aug 2011 07:25:19 +0000

As they say, when you are into the big busy world, you need to take care of all
the little details about yourself. Right from what you wear to how you talk and how you
walk, carry immense significance.

To make the right impression on everyone, you need to have the right attitude and the
behavior. In this article, wee shall discuss some of the etiquettes and manners you must
maintain while you go out fine dining with your colleagues or your employer. A lot can
be judged about an individual on the basis of how he eats and behaves at the fine dining
table.

Let us take a look at some of the basics of fine dining etiquettes. Though, etiquettes
need to be changed and modified according to the prevailing system in every region or
nation, there are certain rules that apply to all, irrespective of the geography.
Following, is a list of few such rules that need to be kept in mind while going for fine
dining.

• The first thing that you need to remember is to wait for the others to start
eating. Do not begin eating before everybody else. It is considered rude to start
eating before everyone else. You should never eat with your mouth open or eat
aloud, or even speak when you chew.
• Let your host or hostess unfold the napkin and then you may follow. Unfold it in
half and place it on your lap. See that the fold should be towards your torso. If
you have to leave your seat, you should leave the napkin on the seat and when
you are done with eating, you can lightly fold it and leave it at the left side of the
plate. Do not crumble it or fold it back completely.
• Almost the entire world still follows the European code of conduct at the dining
table. The knife needs to be held in the right hand and the fork has to be held
in the left. You should not put your arms or your elbows on the table. These are
considered to be bad manners.

Placing the cutlery and the utensils are the host’s domain, so if you are not the host,
all you need to think about is your own way of behaving at the table. So the next time
you are going out to have a power lunch or a dinner with important people, or a special
person, be at your best behavior.

Most people think that the way one looks and the way one dresses up, determines the
impression one has on the people, but in reality it is a lot wider and greater a concept
than that. To be perceived as a dignified and elegant person, you need to take a holistic
approach towards improving or developing your personality. So if you are looking
forward to make a perfect impression on everybody, make sure you are putting your
best foot forward at all times in public.

How to Make Your Communications Communicate

admin — Tue, 02 Aug 2011 04:12:53 +0000

Whether it is to develop business relations or improve your personal relations with people, you must know how to communicate well. Communication is the life blood to establish any kind of relationship, both commercial as well as personal. So it becomes immensely important to make sure that whatever needs to be said is said in the most effective manner. In this particular article, we shall take a look at some of the ways in which any individual can work upon the communication skills to do better at both the personal and the professional front.

There are a few things that need to be understood very well before you can actually work upon improving your communication skills. Communication and speech are not the same. You must realize the fact that being a good speaker might not make you a good communicator as well, but definitely, to be a good communicator, your speaking skills must be good. Once you are good at speaking out well, you can easily work upon your communicative abilities. So, to begin with, you must keep in mind to work on adding flexibility and confidence to your speaking skill. Once you have mastered it, try and make it more communicative and effective.
The primary thing that you need to do is learn to be a patient and attentive listener. If you cannot listen to what others have to say, it might not be easy for you to communicate well, ever. While in a conversation, do not start talking before the other one has finished. Let others speak, listen with attention and patience. Only when you listen to others, others will be willing to listen to what you have to say. This does not mean that you should wait and let everyone have their say and at the end, speak out. Make it a conversation, with a balanced flow. Listen to others and say what you have to say and remember to be polite and effective at the same time.
Learn to speak with confidence. A person speaking with uber confidence often takes an upper hand over a person who has a good content but lacks confidence. Therefore, if you are smart and confident and you are comfortable with whatever you have to say, you will be able to stand out as a good communicator. So, try and work on the confidence level. Once you are confident while speaking, half your job shall be done.
Every individual has a particular way of speaking and communicating. You might be having your personal favorite speaker, but do not try to speak like anyone, thinking that it might help in improving. Stick to your own style and work upon improving your own personal style and character in communicating.

Do not hesitate while you are speaking. Most people, because of the lack of proper confidence and smartness fail to strike the perfect communication. Keep practicing and exploring ways on how to improve the way you can talk to make the communication more effective.

Tips on Adding Flexibility of Speaking

admin — Tue, 02 Aug 2011 04:11:47 +0000

The way you speak, is probably the most important factor determining the way people perceive you. More than how you look, how you speak and present yourself to the world makes the most significant impression. Therefore, it becomes immensely important to speak well and with flexibility and confidence. We shall discuss a few ways to add flexibility and ease to your speech.

The first thing that you need to remember to do on a regular basis is to brush up your language skills. The language that you speak in should be the language you keep learning all along your life. Try to build up on your vocabulary and your grammar. To speak well, the basics of the language need to be known very well. There are people, who learn many languages, but are not expert at any. The best way to master any language is to try to keep learning the language.
Reading improves ones language skills. Remember, the reason why I’m laying so much importance on the knowledge of the language is because, the better you know the language, the easier it gets for you to speak. Make it a habit to read out aloud. Reading out to your self shall improve your pronunciation and will also add flexibility to your speech tools.
Volume control is another very important factor to determine good speaking. There are people who are too loud and there are some, who are barely audible. You need to strike a balance between the two. Neither should you be too loud to overshadow the voice of others, nor should you be inaudible. Make sure you are heard and are sonorous. Balance is the key word, so do not forget to maintain it while you are speaking.
Speaking with confidence and ease comes with a lot of practice. The more you practice, the better you get. Keep practicing your speaking exercises. Read aloud, talk to people, and do not hesitate, if you want to say something just because you think you do not have brilliant speaking skills. Speak out, irrespective of your weaknesses. Only when you speak, shall you know how to speak even better.
Listening helps to improve speaking skills to a great extent. Listen to good speakers and try to recognize the ways they make themselves sound perfect in a gathering. There are audio CDs, available in the market that helps in developing speaking tools. These are at times, of great help. Hearing good speakers will direct you how to improvise your own way of speaking.
When you have learnt, and to an extent mastered how to balance the volume and the voice modulation, you can work upon the content of your speech. See that you are not talking either too much, or too less.

It might seem a little difficult at times to get over speaking difficulties, but with proper practice and methodical approach, you can speak with flexibility, ease and confidence.