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aim CAT The countdown to the mother of all entrances has begun. Calm your nerves, prepare for the unexpected Jitin Chawla WHAT will happen if there is a big strike on November 16? No buses, no autos and so on. Is anyone prepared for this? Nope. The mantra for CAT should also be the same — prepare for the unexpected. Maybe this example in the start is too far-fetched, but this is definitely a parameter for success. Last year, many a good aspirants were thrown off-balance as time limit for individual sections was removed and lots of reasoning crept into all the sections — more reasoning-based questions were present rather than fact-based ones. So, one may have to face sectional time limits, less straight questions, more of pure analytical reasoning questions or whatever the CAT test makers might dream of! Realise that one’s success depends upon fast thinking and cracking the paper. So, feel healthy, eat well and sleep well to prepare for the big day. Give yourself lots of positive dosages — don’t think negative. If one keeps thinking that it is difficult making it to the IIMs, then it would become really difficult. Gain on your positive energy by thinking that you would make it on the basis of your strengths. Allocating time among sections is of paramount importance. Suppose one completes a section very fast. In this case, the accuracy level goes down and in addition, if one saves time and tries to come back to this section and complete it, one would not be able to concentrate to a degree possible in first attempt. Some aspirants might have to slow down their speeds in particular sections also. This one has to assess and find out for oneself, as there cannot be a generalised timeframe for everyone for all sections. Additionally, one has to take care while marking in the answer sheet. As one would not be attempting questions in a set order and one is under time-pressure, the chances of making a mistake are high. Aspirants can use a scale to mark answers properly. It is a good idea to memorise what one has been learning for faster output. Revise formulae, basics (tables, squares, inverses) and approaches to solving various questions for quant. A memorising guide can be prepared based on the individual’s strengths and weaknesses. Many aspirants are not able to concentrate throughout the two-and-a-half-hour period. Consciously keep the mind on a leash otherwise it will travel home, shop and meet friends! Aspirants build up mental tension by doing too much of clock watching. Every time you see your watch, you pass a message to the brain – time is ticking away. This triggers off a chain reaction and tension begins to build. Define parameters for yourself — In quant, I can attempt 30 questions in 30 minutes or I will attempt 40 questions in 15 minutes in verbal. Check on the basis of these parameter rather than total time versus total questions. It is better to find out the exam venue in advance to avoid last minute rush. In case of similar sounding school or place name — e.g. Greater Kailash Enclave and Greater Kailash-I – this is a very good idea. Leave home early on D-Day. Try and reach the exam centre at least 45 minutes in advance. Most aspirants will have butterflies in the stomach on November 16. Fret not, this is a feeling all achievers go through as they are worried about performing better. It is absolutely normal. To relax, make yourself a part of the environment at the test centre. Once you reach early, find your seat, chat up your neighbours, wish them luck and break open the paper seal with a prayer on your lips. Good luck! (The writer is a career counsellor)
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Wishing you a CAT-call!
NOVEMBER 16 is round the corner. You have given it your best (we hope!) and in terms of studying, there’s preciously little that can be done now. Don’t worry about others’ preparations, there will always be students who will slog till the last day (and it might work for them as well) and there will be people who will be studying in front of the exam centre too – each to their own.
It is a known fact now that the exam springs a surprise every year — if not in the pattern of the paper, then it might be in the type of questions asked. Prepare yourself mentally that you might face a big surprise on the final day. Keep in mind that your fellow test-writers are stumped too! Like all IIM grads will agree, there is no known formula to crack CAT but yes, the ingredients are constant – hard work, persistence, patience, oodles of confidence, and luck. Finally, remember that CAT does not open gates for IIMs only. There are other top institutes that accept CAT score, but if the IIM is where your heart and soul lie, there is a next time. Till then, believe in yourself!
— Team J&C
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Career Hotline
A world of opportunity
Q. I am a commerce graduate. I recently heard about masters in international business. Can you please tell me about this in detail? Is it just like MBA? And also could you please suggest some institutes offering MIB?
— Ankit Grewal Amity Business School, Noida (UP)
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Aligarh Muslim University, Aligarh-202002 Course: Masters in international business management Eligibility: Bachelors Degree (50% agg) Website: www.amu.ac.in n
Banaras Hindu University, Faculty of Management Studies, Varanasi-221005 Course: MIBA Eligibility: Bachelors Degree (50% agg) Selection: Common Entrance Test/ GD/ interview Website: www.bhu.ac.in/fms n
Bundelkhand University, Dept of Business Administration, Jhansi-284128 Course: MIBM Eligibility: Bachelors Degree (50% agg). Website: www.bundelkhanduniv.org n
Devi Ahilya Vishwavidyalaya, Institute of Management Studies, Takshila Campus, Khandwa Road, Indore-452001 Course: Master in International Business Eligibility: Bachelors Degree (50% agg) Website: www.dauniv.ac.in n
Fore School of Management, B-18, Qutub Institutional Area, New Delhi- 110016 Course: International MBA (international business management), two-year, part time, MSc (international business management), one-year full time. Eligibility: Bachelors degree, two years work experience Selection: Interview Website: www.fsm.ac.in n
Guru Gobind Singh Indraprastha University, University School of Studies, Kashmere Gate, Delhi-110006 Course: MBA International Marketing Website: www.ggsipu.nic.in n
Indian Institute of Foreign Trade (deemed university), IIFT Bhawan, B-21, Qutub Institutional Area, New Delhi-110016 Course: MBA international business, two years full time. Eligibility: Bachelor’s degree (50% agg) Selection: Entrance test, GD & interview Website: www.iift.edu Executive Programmes - MBA (international business): Part time, evening, 27 months - Executive masters in international business, 18 months - Certificate course in export management: evening, four months n
Institute of Management Technology (IMT), Ghaziabad & Nagpur Course: Master of IB. Eligibility: Bachelor’s degree Selection: CAT / GMAT scores, GD & interview (www.imt.edu) n
International Management Institute, Qutub Institutional Area, New Delhi Course: PG programme in international management Eligibility: Bachelor’s degree with three years work experience Website: www.imi.edu n
Jamia Millia Islamia, D/o Commerce & Business Studies, Jamia Nagar, New Delhi. Course: Self-financing masters in international business, bachelors in international business and finance (hons) Eligibility: Bachelors Degree (50% agg) Website: www.jmi.nic.in n
Kurukshetra University, Kurukshetra-136119 Course: Masters in international business Eligibility: Bachelors Degree (50% agg) Selection: Written test/group discussion/ interview Website: http://kuk.ernet.in n
Mohanlal Sukhadia University, Faculty of Commerce, Udaipur Course: Masters in international business Eligibility: Bachelors degree (50% agg) Website: www.mlsu.org n
Panjab University, University Business School, Chandigarh Eligibility: Bachelors/masters degree (50% agg) or CA/ICWA/CS/AMIE Selection: CAT scores, GD & interview Website: www.ubschandigarh.org n
Punjabi University, Patiala-147002 Course: Masters in international business Eligibility: Bachelors Degree (50% agg) n
University of Delhi, Delhi-110007 Eligibility: Bachelors degree (50% agg), entrance test n
Delhi School of Economics, dept of commerce, Delhi University Course: Masters in international business Website: www.mibdu.org n
Sri Ram College of Commerce, Delhi University Course: Masters in global business organisation, two-year Selection: Merit in entrance exam conducted by the university followed by GD and interview Website: www.srcc.edu n
University of Lucknow, Lucknow-226007 Course: Masters in international business management Eligibility: Bachelors Degree (50% agg) Website: www.lkouniv.ac.in Admissions to most of these have been or will soon be announced. So, look out for the notifications or better still, log on to the respective websites.
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Operations management is open to al
— Kartik Gupta A. Broadly speaking, operations management teaches you how to manage and direct the physical and technical functions of an organisation, particularly those relating to development, production and manufacturing. It is a myth that only those with an engineering background should opt for this branch of management. Admittedly, operations does involve the use of various statistical and modelling techniques but any student with a reasonably good background of mathematics can master them irrespective of which stream they come from. Also, since computers now perform most complex mathematical operations, even non-engineering students can handle them.
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Have your cake, eat it too
— Piyush Yadav A. As you are interested in both law and journalism, I don’t see why you can’t pursue courses in both disciplines simultaneously. What you can do is opt for a regular course in the field that interests you the most and enrol for a correspondence or part-time course in the other. However, there’s a hitch. Most correspondence courses in law have been banned, and the few that are offered, won’t entitle you to argue in a court so you’ll have to go for a regular course as far as studying law is concerned. The only practical problem you may face is balancing clashing examination dates, which could be a slightly sticky proposition. But, if you can comfortably manage both courses simultaneously, just go ahead!
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Be the headhunter’s pet!
— Rukmini Pegu A. The Wall Street Journal recently ranked attributes recruiters seek in hiring new personnel. The three highest – and substantially ahead of the others – were interpersonal skills, an ability to work well within a team, personal integrity and teachability. Curiously, work experience and strategic thinking featured way down in the middle of the list of the 20 most desired traits for new hires. The other very important factor companies look for in recruits is passion and enthusiasm for whatever they want to do. They look for “inspired” performers with drive and motivation besides good team players. Last, but not the least, companies look for convergence of values. It does little good to employ a top sales manager, a talented computer engineer, or an outstanding production superintendent if their values don’t coincide with those of the organisation. If they aren’t operating under the same standards, how can they alert the company about a dangerous turn? If they don’t know right from wrong or, worse, don’t care, how will the organisation stay on the proper course?
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For MBA, experience counts
Q. If I get a low CAT score, what other factors can I use to improve my chances of getting into a good B-school?
— Deepa Marwah A. If you have work experience, make sure you make good use of that. If not, be sure you are thorough with the subjects you studied in college. Remember, if you make it to Round 2 despite your low CAT score, you stand an even chance of final selection. Be confident and be clear of what you want. Best of luck to you and all the readers of this column who are taking the Mother of all Exams this Sunday. Take it as an adventure and give it your bestest shot!
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aim CAT Will I, Sankar N. WHEN there is less than a week left for D-Day, test takers are in different states of mind. While folks who have barely started `prep’ are tearing their hair in frustration when confronted with choice bits of vocabulary and indecipherable math problems that are helplessly beyond their ken, most are in a more advanced stage of prep — catching a bus to the nearest shrine to pray for that IIM seat or plucking petals off daisies chanting, ‘Will I, Won’t I?”
In my final year of engineering, I found it highly amusing that my co-hostellers were dedicating a whole year to prepare for a test to gain admission to a degree course which itself was only twice as long! Two years down the line, I laughed on the other side of my face. I’d had it with my lowly role at work and wanted to handle more responsibility. I wanted to get on the fast track, for which I needed an MBA. A friend of mine, another IIM aspirant, had subscribed to a correspondence course. The nature of his work did not permit him to attend classes, as he was never in one city for more than a week at a time. However, the basic reference material was a permanent fixture in his travel bag. He dutifully did sectional tests in the dim yellow light of the compartment, as the train chugged from station to station across the length of India. But on buses, he cursed the BRMs for adding to his baggage. On the other hand, I took leave from work for three months and sat at home to prepare wholeheartedly. Serious candidates prepare anywhere from two months to a whole year. Some opine that there isn’t a more hyped test, while others cannot extol its virtues enough. Preparation is highly organised (commercialised, if you like), thanks to coaching institutes, which train students to outdo others who, in all probability, subscribe to other such institutes. The result: Legions of students refined to the point where they learn to strike a balance between speed and accuracy, cull easier questions based on areas of strength, and maximise score by attempting sections in optimal order. My friend was not amused with the proposition of competing with the likes of them. He raved, “I’m a metallurgist, working in product quality for two years. The last time I saw any math was six years ago, back in school, and it’s the same for folks from arts/law/commerce backgrounds. I want to major in HR, for which we don’t need this stuff. It beats me why we have to do this! I’m quant-phobic!” On the flipside, this section is child’s play for engineering students who saunter in and crack it without any prior prep. But for verbal, either you know it or you don’t. They say one should read a lot of books to improve vocabulary and reading comprehension. For most though, it’s too late now. I know a lot of people who’ve taken the CAT over four times. Their scores keep falling just short of what the IIMs dictate. But they’ve got to make it there, to leverage their credentials. The best of the rest is just not good enough, sometimes. Not too many people make it on their first attempt. More often than not, an aspirant will take the CAT for a dry run just for the feel of it, before giving it a serious shot. In test simulations, I consistently scored above the 90th percentile, but showed no signs of complacence. I remembered that I had to slug it out with two lakh others across the country and be among the top 1 per cent for a fighting chance. The IIMs cut zero slack, so it is best to not leave anything to chance. The CAT is a hard, forbidding taskmaster. Belling the CAT has become a cliché. Though it seems a steep target, the reward of a ‘CAT call’ is well worth it. Toppers lie in wait for this communication from one or more of the six IIMs inviting them in the next round. Where the game of percentiles ends, that of GD/PI (Group Discussion/Personal Interview) commences. Those who overcome this last hurdle claim their coveted positions in the elite group. What a good score promises is not just a seat in one of the highly acclaimed IIMs but a change in future prospects as well. As the hype goes, it’s that point in time when one’s career could take a critical spin and a resume starts peeking into completely new propositions. For those who may have fared poorly with technical education or have simply been left out of the race, it is the chance to deliver the knockout punch, for what is really tested in CAT, more than aptitude for a subject, is the underlying attitude. Series concluded (The writer is a student of IIM-Lucknow, batch 2007-09)
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Saying no, without saying so
AT the workplace, everyone has to say no at some time or the other. Team members asking for leave repeatedly, permission to come late or go early or be moved to a project of their choice... In many cases, no is the only answer but saying the word without earning the recipient’s displeasure requires an art. It may seem difficult to learn, but it is as simple as putting a thread into the eye of a needle. All it requires is observation, concentration and consolation, though not always
During early 70’s I wrote a piece and sent it to a national daily. The editor rushed it back with comments in his own hand: “To publish such a worthless piece would mean bringing disgrace to our prestigious publication.” After pruning, polishing and making subtle changes here and there I sent the piece to The Tribune. It took about ten days before I saw it once again bearing a slip which read: “The Editor-in-Chief thankfully acknowledges receipt of the accompanying material but regrets his inability to accept it for publication.” In both the cases, the editors said “no” but the difference in their saying the same thing speaks of their specific art of saying “no”. In most offices, several requests are turned down everyday. There are certain ways to say “no” to make the refusal perfectly clear and yet remove a lot of the biting sting. Sometimes, under pressure of work, officers may blurt out a no-frills “no”, but the same refusal – if said with a few lines of clarification and consolation – will certainly boost the recipient’s morale in a positive spirit. At home or in shops, workers are chided when they demand some money in advance. Fed up with a plain “no”, some workers even leave the job. The master must act wisely. A polite refusal said with love and affection works wonders. To reject a request without assigning a reason seems illogical and even unethical whether it’s an official or domestic situation and discourages the workforce, the hear and soul of an organisation. Skilful officers strategically avoid using a plain “no”. They use a delay technique and avoid disappointment, using words like “maybe...” or “I’ll look into it” or “I’ll let you know”. These techniques psychologically act as shock absorbers, but only if used sparingly. After all, the team leader has a reputation to protect! For an organisation to make strides, the team must be kept in good cheer. Setbacks may appear when employees fail to tolerate the curt “no”. A skilful boss always listens patiently and then explains the reason behind turning down a request. He will also suggests alternative solutions in particular circumstances that can convert the “no” into a “yes”. If the boss is candid, considerate and caring, even an unpleasant reply doesn’t pinch. The very sweet words carrying the negative sugarcoat the rejection, making the otherwise bitter pill taste sweet. Similarly, the tradition of a consolation prize or a selection on the waiting list is nothing but a wonderful way to say no. These traditions are healthy – they convey the message without causing hurt and humiliation.
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Going Global
IFRS training will synchronise accounting standards the world over & aid better understanding
Each course will be tailor-made so that the information delivered is relevant to the business issues and resonates with the personnel through the integration of real-life examples taken from financial statements. Regardless of the needs or time restraints, Piron claims to ensure that only relevant IFRS knowledge is transferred to the personnel. “The objective is to make a common international platform for the better understanding of accounting. Synchronisation of accounting standards across the globe is vital as businesses are crossing national boundaries now. By adopting IFRS, a business can present its financial statements on the same format as its competitors. This will help in making comparisons easier,” says Piron Education CEO Ankur Aggarwal. It will be very beneficial for companies that have subsidiaries or branch offices in countries that have already adopted the framework, he says. Multinational companies with offices in India or foreign investors would prefer IFRS, as it offers absolute convenience. Keeping this need in mind, PIRON has taken the initiative to help companies create comparable, reliable, and transparent financial statements that will facilitate greater cross-border capital raising and business. “The Institute of Chartered Accountants of India (ICAI) has announced convergence to IFRS by 2011, which is why this is the right time for firms to start preparing themselves to adopt this shift,” adds Aggarwal. This shift is also going to bring in substantial and significant business transfiguration. In some European Union countries, Australia and New Zealand, IFRS will be adopted for the listed entities and other public interest entities such as banks, insurance companies and large-sized entities. It is important for organisations to move quickly to work within this framework. This will help them to get businesses from across the globe. In an increasingly competitive arena, those without IFRS, looking for business or investments, have to struggle against those already have taken the decision to enter the framework. — TNS
What is IFRS?
IT is a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements. The IASB is an independent accounting standards body based in London. Over 12,000 companies from 100 different countries, including listed EU companies, have already adopted IFRS. As per estimates, the number of countries requiring or accepting IFRS could grow to 150 in the next few years.
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FOOD for THOUGHT
CHILDREN who study a musical instrument for at least three years outperform children with no instrumental training, according to a study.
Harvard researchers Gottfried Schlaug and Ellen Winner say that their findings apply not only to tests of auditory discrimination and finger dexterity, but also to tests measuring verbal ability and visual pattern completion. During the study, the researchers compared 41 eight to eleven-year-olds who had studied either piano or a string instrument for a minimum of three years to 18 children who had no instrumental training. Children in both groups spent 30-40 minutes per week in general music classes at school, but those in the instrumental group also received private lessons learning an instrument and spent additional time practicing at home. The researchers observed that the young musicians scored significantly higher than those in the control group on two skills closely related to their music training-auditory discrimination and finger dexterity. The musicians were also found to score higher in two skills that appeared unrelated to music-verbal ability (as measured by a vocabulary IQ test) and visual pattern completion. The researchers further said that the longer and more intensely the child had studied his or her instrument, the better he or she scored on the tests. Based on their observations, the researchers came to the conclusion that though their study shed light on the question of whether connections between music and other, unrelated skills did exist. They said that further studies were needed to examine the causal relationships between instrumental music training, practice intensity, and cognitive enhancements.
— ANI
See the tiffin vanish!
SCHOOLCHILDREN eat more whole grains when it is gradually added to their tiffin boxes, according to a study. Whole grain breads are strongly recommended as part of a healthy diet, but children and pre-teens won’t always eat them. The research is important because it shows that a gradual approach to improving children’s overall diets can be successful both for parents and school food-service workers, said Len Marquart, study’s co-author and an associate professor at Minnesota University. Minnesota researchers monitored how much bread students threw away, and whether that amount increased as the percentage of whole-grain flour in the bread and rolls was gradually increased. The study included meals fed to kindergarteners through sixth-graders at two Hopkins, Minnesota, elementary schools over the course of a school year, said a Minnesota release.
— IANS
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Smart Skills Media management is all about developing effective media content, creating a comprehensive business plan & implementing a marketing plan. It is a good option for students who have a background in the media but are not necessarily planning media careers. New challenges, constant change & an adrenaline high guaranteed! THIS past week, no one can talk about anything other than the amazing win of United States President-elect Barack Obama. The drama of the 2008 presidential election has electrified the world. What is not so well known is that it was the perfect example of media management at work. Obama’s media plan envisaged an entrée for news organisations to gain the attention of young voters, and foster their continued interest in serious news. A qualitative, in-depth study of a diverse group of Chicago based young adults had found that young people often click away from election news online because they feel the sites bombard them with too much information and too many choices. To serve and attract this important group, the Obama media team needed to develop online election resources that not only helped raise half a billion dollars in contributions, but also fired up a committed grassroots network that felt committed and involved in the campaign. His overwhelming election victory, supported by millions of youth, proved that the media plan served to show how to deal with a problem, and achieved amazing results – a fan following among US youth. This is just one area of work in media management. The growth of the media and communications industry in recent years has fuelled the greatest social and cultural change since the Industrial Revolution. With technological convergence, a rise in direct-to-consumer marketing and distribution and a globalised demand for goods and services, media and communications professionals have to face the diverse challenges of the digital age. Media management involves an understanding of the media industry which could range from radio, television, film, music, multimedia and publishing to fine arts, gallery and arts administration, museum administration, education, public relations, journalism, e-commerce, theatre, dance and opera. Media managers need to study and analyse the trends, needs, and opportunities in the varied fields of media. They bring management expertise into the handling of media, and need to understand and function within the complex legal, ethical, economic, and social dimensions of media management. Much of the work involves developing effective media content and implementing a marketing plan to promote the respective media ventures, and where required creating a comprehensive business plan. They apply organisational theory and management principles to the handling of suppliers, competitors, employees, and consumers. This may involve market research and design, special events and sales promotion, public relations and publicity for media related products and services. Media managers handle the complete campaign; planning and marketing strategies to build businesses and brands. They manage campaigns on all media platforms: digital, press, broadcast (TV and radio), out-of-home, cinema, direct marketing and ambient media. Media management is a good option for students who have a background in the media but are not necessarily planning media careers. But even those with no media background, but with a keen interest and who wish to work in managing media organisations, can find challenging careers in this field. There are some mass communication institutes that offer programmes in media management. Such courses are available at post-graduation level, and open to students from any discipline. As the work covers all areas of media, whether print, TV, radio, or new media, the educational programmes bring insight and knowledge of the media with theoretical and practical classes. Often the classes draw upon visiting media leaders, projects with media companies and current case analyses from basics of a media plan to marketing and strategy formulation and implementation. Many of the faculty are professionals from the media world who share their knowledge and experiences helping students ease into what could be a dynamic and mercurial career. Normally careers in media management tend to attract highly motivated individuals who communicate well with other people, can accept broad responsibilities easily and with little supervision, are willing to do some travelling and thrive on constant change. So, students with an MBA in marketing and experience in media also do well in this field. Starting salaries are good, with career growth linked to achievement. Those with training in media management can work with television channels and publishing companies, as well as with advertising and media marketing and planning organisations. Public relations and corporate communications also take on media specialists. In fact, in this media savvy world where a media story can make or break an individual or an organisation, professional expertise in managing the media cannot be over emphasised. Even political parties are understanding the importance of media and are training their leaders in media management — how to deal with journalists and what information to dole out to them to ensure maximum favourable publicity for the party as well as candidates in the fray. If you have what it takes to make a success in this highly competitive field, media management can lead you into a challenging new career. And with elections looming over the horizon, you may just help create another Barack Obama! (The writer is a career counsellor)
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A. Foreign trade or international business forms part of most MBA programmes. However, it is also offered as a specialisation at a number of some B-schools. You could check out the following two-year MIB/MIBA/MIBM (master of international business/ international business administration/international business management) degree/diploma programmes in the North:
Q. I am a B.Sc student taking CAT and some other exams this year. I am told that operations management is only for engineering students. Is this so?
Q. I am doing B.A. in English Literature and enjoying it greatly. While I am keen on pursuing a career in journalism, law also fascinates me. Could you please tell me whether it is possible to pursue both courses simultaneously?
Q. Although I come from the Northeast, I have a good academic record and am very pushy and aggressive but I need some inputs to make a good impression on interviewers. Could you please tell me what exactly do companies look for in the people they hire?
IRON Education has announced the introduction of a training programme on International Financial Reporting Standards
(IFRS). In partnership with ATC International, one of the biggest training centers of Europe, the group offers a wide range of courses to meet the training needs of companies.