The MBA Notebook

2nd ManipalBlog Short Story and Poetry Competition: Illuminati 2012 (India)

2012-05-07T19:20:00.001+05:30

Deadline: 1 June 2012

After Illuminati 2011 received a good response,with 90 poems and 19 short stories,we announce the second edition of the ManipalBlog annual short story and poetry contest – Illuminati 2012.

We encourage student writers in India to explore and celebrate their talents by sending in their new, untried work. Writers may try their hand in both the categories: Short Story and Poetry.

MANIPALBLOG ANNUAL SHORT STORY AND POETRY COMPETITION: ILLUMINATI 2012

Illuminati 2012: the 2nd ManipalBlog Annual short story and poetry contest

Entries will be accepted between 12:00 AM , 1st May 2012 and 12:00 AM 1st June 2012. The entries will be published online at Manipalblog.com, on 1st June 2012 and one month will be given for our readers to appreciate and vote for them. Results will be announced on 15th August 2012 !

1. Eligibility:

The contest is open to all student residents in India.
Only original, unpublished, fictional short stories of 1500 words or less and written in English without profanity are eligible.
Multiple entries in each category are allowed.
Each article must contain solely the entrant’s original ideas and language. Your submission of the article and entry form is your guarantee that you are the sole author and copyright holder of the article.
Entrants under the age of 18 may enter only with the permission of their parent or guardian.
Administrators, Editors and Family members of ManipalBlog.com are not eligible to enter.

2. Restrictions: Entries may not be submitted for publication or published elsewhere (either digitally or in print). Incomplete or illegible entries and entries that do not meet the Eligibility standards in these official rules may be disqualified.

3. Short story requirements

Be between 1000 to 2000 words.
Be on the topic or theme provided.
Be written in the English language.
Be wholly the original work of the entrant, written solely by the entrant.
Not be copied from any other source.
Not have been previously broadcast or otherwise distributed or disseminated in any media or format.
Not be in the public domain.
Not be in violation of or in conflict with the trademark, copyright, rights of privacy, rights of publicity or any other rights, of any kind or nature, of any other person or entity.
Not include any language or other content that is inappropriate, offensive, pornographic, or otherwise unfit for dissemination or broadcast, as determined by ManipalBlog.com in its sole discretion.
Meet the deadline.

4. Poetry requirements

No single poem should exceed 60 lines.
Both metered and free verse qualify, as well as prose poems that are so designated by the poet are accepted.
Be on the topic or theme provided.
Be written in the English language.
Be wholly the original work of the entrant, written solely by the entrant.
Not be copied from any other source.
Not have been previously broadcast or otherwise distributed or disseminated in any media or format.
Not be in the public domain.
Not be in violation of or in conflict with the trademark, copyright, rights of privacy, rights of publicity or any other rights, of any kind or nature, of any other person or entity.
Not include any language or other content that is inappropriate, offensive, pornographic, or otherwise unfit for dissemination or broadcast, as determined by ManipalBlog.com in its sole discretion.
Meet the deadline.

Entries not satisfying these criteria in any respect will be disqualified. If ManipalBlog.com, in its sole discretion, has reason to believe that any entry contains any material that may infringe or violate any law or any rights of a third party, or that the use or broadcast of such entry in the manner described herein may infringe or violate any law or any rights of a third party, ManipalBlog.com may immediately disqualify such entry

5. How to Enter: There is NO FEE to enter this contest. Follow these steps to enter:

Complete the contest entry form here, and attach the word/.txt document and click on the submit form button.
The entries must be received by 11:59pm on May 31st, 2012. The link will be inactive thereafter.
By submitting a story entry, the entrant grants to ManipalBlog.com:
The right to edit the Story for grammar, spelling and punctuation; and
A non-exclusive, assignable, perpetual, license to produce, publish, distribute, transmit, exhibit, exploit, and license the Story and any portions thereof in any format (collectively “distribute” or “distribution,” as applicable) by any and all means, uses and media, whether audio, print, audiovisual or otherwise, now or hereafter known, throughout the universe in all languages without financial compensation.
Incomplete or illegible entries may be disqualified.

6. Judging and Awards

Like last year, we will be having prizes in the popular choice and critics choice categories for both short stories and poetry.
The popular choice awards will be based on the traffic, Facebook ‘Likes’ and Tweets the short story/ poem generates between 1st June 2012 and 1st July 2012.
Critics choice awards will be based on the scoring by our judging Panel. The judging panel may include: teaching professionals, librarians, children’s author, illustrators, and editors. Judging will begin on June 2, 2010 and the winners will be announced on or about August 15th, 2010 at the website www.manipalblog.com . The decisions of the judges are final and binding.
Certificates will be given away to all the participants via mail or in person if they live in Manipal/Mangalore.
Cash prizes for first place , second place , and third place will be offered in each of the categories (short stories and poetry).
5 entries in each category will receive online gift vouchers.
There will be separate awards for popular and critics choice winners.
The prizes in each category will be announced on 2nd June 2012. (Last year the total prize money was Rs. 10000/-and this year it will be much more than that!)
Prizes will be awarded in Cash (If based in Manipal/Mangalore) or via Bank transfer only! We will not be mailing cheques or Demand Drafts to the winners.
ManipalBlog.com reserves the right to refuse to award prizes in any category if the entries are considered to be of insufficient merit.

Entries that do not follow all of these instructions will be disqualified.

THE TOPICS AND THEMES for the Annual ManipalBlog Short Story & Poetry competition: Illuminati 2012 are as follows:

Short Story Topics:

The first day of college, a love note, and I suddenly saw a light at a distance…
A young student, corruption in the college, joins politics to save country
The Tablet, 21/12, Technology saves humanity from the Mayans.

Poetry Themes:

The girl at the fair
Wonderland
The sweet taste of Revenge

CONTACT INFORMATION:

For inquiries: mail to contests@manipalblog.com with Illuminati 2012 as the subject line

For submissions: visit www.manipalblog.com/illuminati2012

Website: http://manipalblog.com

What the importance of MBA degree when searching a job in India?

2011-06-14T11:07:00.000+05:30

According to the researches, in the Indian labor market the rate of vacancies where MBA degree is a compulsory requirement doesn’t exceed 6-7%. Indian executives are sure that salary demands of candidates having MBA are often excessively increased, and so they prefer employing experienced workforce with lesser salary demands. Thus, there is sometimes no reason at all to educate oneself abroad for continuing work in India. For such an aim it will be enough to get either MBA diploma or the second higher education diploma within its borders.

Foreign MBA degree in India is a prerogative of people who have both high financial opportunities and big ambitions.

Advantages of a Full-Time / Executive MBA Program

2011-06-14T10:09:00.000+05:30

All MBA Programs offered today at business schools all over the globe are conveniently divided into Full-time, Part-time, Distance-Learning and Executive Education. Today Full-time and Executive MBA Programs appear the most popular among students and managers. Both of them have specific advantages.

For instance, Full-time MBA will perfectly suit those who wish to change the industry of his/her activity and needs a sort of a transition period to get reequipped for a new workplace.

Most business schools offer two-year long Full-time programs comprising the whole scope of courses in every domain of management. Each year is divided into two or sometimes three semesters. The first year of studies implies the core curriculum amounting to almost 40% of the whole program. The second year, however, is a more choice-based, since students have to select 12 electives to match their interests and professional aspirations.

Executive MBA programs are much younger than their Full-time counterparts. If an average Full-time applicant has to have at least two years of work history, a typical Executive MBA student can boast over seven years of pure managerial experience.

An Executive MBA is reluctant to leave his/her current job and longs for professional improvement here and now. Moreover his/her employer, if the student is not self-employed of course, is so much interested in retaining such an invaluable specialist that he/she is eager to cover all the tuition fees and secure the student’s part time working day schedule for the whole study period.

The length of the Executive MBA Program depends on the institution’s location. In Europe it would most often last for a year, while it will take you two years of studies to complete your Executive MBA in the US. Classes take place either on weekends or one of the weekdays.

Along with traditional lectures and seminars the curriculum of both, Full-time and Executive MBA programs, is rich in innovative training approaches, including case studies, games, computer modeling, group work, project development for real enterprises and large-scale companies, online studies etc., depending on the school’s vision.

How long are the GMAT and/or GRE scores good for assuming you wanted to work a year or two before applying to graduate school?

2011-06-14T10:02:00.000+05:30

GMAT and GRE scores are good for five years. If you’re thinking of taking some time off before going to graduate school, I definitely recommend taking any standardized test while you’re still in school now. Otherwise, it will be more challenging to refresh your math and certain other skills that you may not use often in a full-time job.

Should you attend graduate school if you want a business degree?

2011-06-14T10:01:00.000+05:30

I’m not sure if I’m interpreting this question correctly, so I’ll try to answer it a couple of ways. Some institutions consider a business degree to be a professional degree (for example, some consider the MBA to be a professional degree; other institutions consider it a graduate degree).

Ultimately, your long-term career goals and what’s required to achieve that goal should dictate if you pursue an advanced degree, professional or graduate. Talk to professionals, such as alumni of your institution or recruiters that come to hire college graduates, to find out what level of education is required to achieve your professional goals. You may find that an advanced degree isn’t required, but perhaps it will make you stand out from other job seekers, qualify you for more job opportunities, or make you more likely to get a promotion at work.

My undergraduate degree was in business administration and I went on to get an MBA with a concentration in human resources because I ultimately wanted to advance to a managerial position and really enjoyed my undergraduate management and HR classes.

How has getting an MBA been beneficial in your own professional career? Would you recommend it?

2011-06-14T09:59:00.000+05:30

For me, an MBA has been helpful in my career, especially as I’ve worked on special projects or initiatives that impacted my employer as a whole. The MBA helped me develop a solid foundation in the basic functions of any organization, so I can effectively communicate with a variety of business units. In addition, it helped me learn how to effectively think strategically and consider the organization as a whole. This has been invaluable. An MBA also forced me to come out of my shell, so to say.

As an undergraduate, I never liked doing presentations or working in groups. However, I was literally forced to become comfortable presenting to various groups and learned how to work with difficult peers, compromise, delegate, lead, and even follow. Almost every single class I took as an MBA student required a group project and usually a presentation. It was rather ironic when in my second job out of graduate school, I became trainer and gave presentations all the time as well as often facilitated groups of staff, most of whom were much more experienced than me. To this day, these skills have been an advantage in every position I have held.

For me, especially since I knew I wanted to eventually become a manager, an MBA has been an asset. It also complimented my prior career in Human Resources, even when I wasn’t in a managerial position. It’s not for everyone, though. I particularly suggest an MBA to people who want to advance through an organization, lead others, or own their own business.

Do you think that work experience before going back to school is important?

2011-06-14T09:58:00.000+05:30

This really depends on the individual, the profession they’re going into, their personal circumstances and preferences, etc. In some professions, a graduate or professional degree is required to just get a job or to significantly improve your chances of getting a job or a better job. It’s often expected that individuals interested in engineering or science will go straight to graduate school. In other fields, like business or education, it may be more typical that someone goes right into the job market.

If you’re not sure if you will be able to or will want to come back to school later, it may be best to go straight into graduate school. For instance, if you go into the job market, begin earning a nice salary, get married, and/or have children, you may not be able to afford to go back to graduate school later. Or, you may not be willing to back to a student’s lifestyle where money is tight.

On the other hand, if you need to gain experience to be competitive when applying to graduate school, such as if you want to go for an MBA, it’s better to work first and then go back to school. Some employers will also help pay for a graduate degree through tuition reimbursement programs. When you’re interviewing for jobs and get far enough in the selection process where it’s appropriate to discuss benefits, ask if a potential employer has such a program.

For instance, I know a Master’s student in engineering here who is being paid by her employer at her salary to earn her Master’s degree here. In addition, she gets to keep most of her benefits while she’s in school. This is probably the best of both worlds; however, she had to apply to a very competitive professional development program at her employer and get selected to the program. I think she also has to stay with her employer for a certain number of years after she earns her Master’s degree.

If you’re simply burned out by the time you get your Bachelor’s degree, it may be better to take some time off before going back to school, since graduate school is very intense and requires a lot of hard work.

Do Extra-Curriculars help to get approved at a B-School?

2011-06-14T09:55:00.000+05:30

There isn’t necessarily one “ideal” for all programs and all institutions. This will vary. It is to someone’s advantage to be involved in professional organizations or other extracurricular activities, particularly when a leadership role has been held. Internship and full-time experience is important to many business programs. Some programs require full-time work experience, while others, strongly prefer full-time work experience.

Internships are definitely expected and will benefit you whether you go into the job market right away or go to graduate school, as long as the experience is relevant; relevancy is key. Holding leadership positions in organizations demonstrates your leadership potential, which is important in business school.

What Do B-Schools look for in an Applicant?

2011-06-14T09:53:00.000+05:30

Business schools, particularly for the MBA, often look for three to four years of full-time work experience. Sometimes, they will also consider internship or co-op experience as long as it’s relevant to business. They often look for leadership potential, so it’s important to put leadership positions you have held on your application or resume.

A strong academic record and GPA are important. In considering this, they will look at what classes you took, the rigor of your undergraduate institution, how well you performed in various classes and at varying levels of difficulty or specialization, etc. GMAT scores are often required and many schools will list average scores or ranges of scores for applicants that were offered admission on their Web sites.

It’s important to have a good foundation of classes, but schools will certainly look to see how well you did in business classes, since you’ll be taking more business classes at the graduate level. Other classes, such as communication, statistics, and English classes, are important too since professionals must be effective communicators and must be able to analyze data to some degree.

Categorization of MBA colleges in India and their fee structure

2011-06-14T09:36:00.000+05:30

The business schools in India are categorized into three. They are Class-A, Class-B and Class-C.

The B-Schools coming under Class-A are the most reputed institutes in the country offering MBA courses. One of the examples for the Class-A institutions is the Indian Institute of Management. There are 10 IIM’s that are spread all over the country. The admission in these institutes is given only for the outstanding students. Thus the fee structure for the programmes in these institutes will also be higher. To pursue the MBA graduation from IIM, one has to pay about Rs. 12 lakhs. The present scenario states that IIM is going to raise the fee structure for the MBA programmes. In such situation students have to spend around Rs.15 lakhs in order to pursue degree from these institutes.

The Class-B institutes are considered as the second top option chosen by the students who fail to land up in IIMs. This class includes the B-Schools like XLRI, Narsee Monjee, FMS Delhi and many more. For pursuing MBA in these institutions students have to spend around Rs.5 to 8 lakhs. It will vary according to the institute.

The Class-C institutions are the last choice favored by the students for pursuing MBA. These least choice institutes charges around Rs.2 to 6 lakhs for the two year programme.

The admission to all these institutions is made based on the score obtained by the candidates in the concerned entrance examinations organized by the universities. Some of the entrance tests for MBA in India are MAT, CAT, XAT, etc.

Besides all, the reputed business institutions in abroad charges around Rs.20 to 30 lakhs and this is considered as the standard fees for the MBA courses offered there.

11 Steps to Successfully choose your MBA School

2011-06-14T09:33:00.000+05:30

Firstly decide on your objective and real motivation for having an MBA.

Do you want an MBA:

for filling in a period for unemployment?
because it’s there, as Mt Everest was for Sir Edmund Hilary?
to do your present job more effectively?
to get an internal or external promotion?
to get employment in a specific industry, organisation or location?

For example, if you want to work for a top international management consulting firm, perhaps you should be studying at Harvard, Stanford, Chicago or another of the top US MBA schools. These international consulting firms won’t be interested in a graduate from a newly established Indian MBA school, unless your surname is Ambani or Premji. They will probably be interested if your degree was earned at one of India’s top, say, three MBA schools.

Decide on your budget.

Do you want an expensive MBA from a prestige school or a “quick and dirty” MBA from the less expensive schools?

The course price range between Indian universities in 2011 is between Rs. 2 lakhs to Rs. 13 lakhs. Besides all, the reputed business institutions in abroad charges around Rs.20 to 30 lakhs and this is considered as the standard fees for the MBA courses offered there.

MBAs purchased by correspondence without any class contact hours or assessment are certainly the cheapest but not necessarily the best value.

A small number of scholarships are available, more from some schools than others.

Decide on the course quality.

Some of the reasons for the course price range are:

the total number of hours of work required by you to complete the course (range: 576 to 2,600 hours of classes and private study)
the number of class contact hours if an off campus course (range: 240 to 800 hours)
the range of subjects offered as electives
the level of education of your instructors (yes, you will find instructors with bachelors degrees at some schools)
whether your lecturers are dedicated full timers or cheaper sessional staff, and whether they only come on campus to present the class
the amount of industry work experience of your instructors
the student/staff ratio (presently impossible to accurately quantify uniformly with hard data, so you need to ask unbiased informants for their impressions)
whether the course is conducted on campus or off (off doesn’t require as much infrastructure as on, and requires fewer instructor hours per student, so has a lower cost of production for the university)
what infrastructure is available, such as the numbers of library books and journals held, whether library searches are possible from home, whether you can search fee-for-data data bases from home, the number of computer terminals and printers available on campus to MBA students (not undergrad’s), whether child minding is available on campus (and whether there actually are spaces available), and so on. A point you need to continuously watch is the distinction between what things are available to just the MBA school, as distinct from what is available to the much larger pool of all students
soft matters, such as the proportions of male and female students, proportions of male and female staff, work experience of fellow students, proportion of students from non-English-speaking backgrounds, and so on.

Data on most of the above are continually assessed and the Indian MBA universities are graded accordingly as Class-A, Class-B and Class-C.

Many prestigious schools make a point of emphasising the amount of research their staff do. You should develop a viewpoint on how important that is to you. There are pros and cons.

Face to face or by correspondence?

If you are working at a remote site in Assam or one of the sister states, you could be quite suited to an MBA by correspondence. This could also be of interest if your spouse dislikes you being away from home several days/nights a week and absent for most weekends.

Off campus method avoids travel, but fore-goes face-to-face contact with lecturers, classmates, and use of the library and the other facilities. Foregoing face-to-face contact also has implications for development of your interpersonal skills, for the type of activities the course can offer as learning exercises and the type of network contacts you’ll develop.

Decide on location and travel times.

If you work in a busy part of your city in a busy job, you would be advised to keep your travel time to a minimum, unless the university of your choice is near home. Being caught in a traffic jam, as your class is already underway, is not a pleasant experience.

How much prestige and post-MBA networking do you really need?

If you want to be a career management consultant, you would be advised to go to a prestige MBA school with a strong alumni network – this way you will meet a swag of good contacts that should translate into future consulting assignments. Consultants’ remuneration is directly related to their networking skills and ability to be a “rainmaker”.

“Prestige” of the school is the perception of that school’s quality. It’s largely subjective, and largely assessed by academics rather than employers, but it does translate into employability by discerning employers. If you expect your future jobs will be with large, cerebral or discerning employers, you should consider the prestige of the school. Since there is no quantitative or published index of prestige, you could look at the indicators of quality of the school and course.

Make a decision on your length of commitment - some MBA courses are longer than others.

Generally the more prestigious and rigorous are longer. However if you “just want to get an MBA on your resume” go for one of the shorter courses.

The two aspects you would consider are total time commitment (in point 3. above) and the number of years to complete the course. Whether you wish to attend part time or full time is related – as many schools don’t offer both options. You also have a choice between an executive MBA and a full degree.

What are the subjects that best suit your career objective and past studies/experience?

Pick subjects that round you out, rather than repeating past studies.

For example, if you are a CPA, you should pick an MBA school that is strong on HR, marketing, manufacturing, distribution and strategy. It’s a waste of time getting high marks in accounting and financial subjects.

The same can be said about the specific specialisation of the MBA school, unless you want to specialise in a particular area in order to achieve your career objective.

Don’t pick an MBA with an international trade specialisation if you hate flying, or an entrepreneurial specialisation if you are more suited to the public sector.

The point of doing an MBA is to be educated for general management, not to become a departmental head, so you need education which develops your capability in all the functions of management.

Are you really prepared to put in the effort required by your preferred MBA school?

If not, go for an easier and less demanding school – these are usually the newer schools that are desperate for MBA students. The prestige schools will tend to make you work hard, in order to satisfy their quality standards.

Are you good enough to get into your preferred MBA school?

Some schools require you to sit for a GMAT (Graduate Management Admission Test) or CAT (Comon Admission Test). There’s a heap of books written about the GMAT and CAT so we’ll leave you to look at some of those – and you should.

The best schools get the most applications and can be more fussy about the level and quality of your experience, qualifications and personal style. They like to brag about their successful MBA graduates – if you are never likely to be a “star” they might tend to overlook your application.

Naturally exceptions are always made for well-connected individuals or family of generous donors. If one of the university buildings is named after your father, mother, uncle, etc you should apply to that university.

Contact past and current students from your preferred MBA school.

Try to find out the good and bad things that are not on the brochures and marketing spiel of the university. Talk to past graduates, particularly of your preferred school/s.

Ask a lot of dumb questions – it might save you a couple of years at the wrong university. You might also get to your career objective a little easier – why repeat the mistakes of others.

Remember, those who neglect history are destined to repeat the mistakes of others.

What is an MBA thesis?

2011-06-13T21:17:00.000+05:30

An MBA thesis is different from an MBA business project and an MBA dissertation in
that whilst the business project specifically addresses a problem or issue facing a business and analyses the problem and a dissertation could be a business plan or a long analysis of a subject.

A thesis is where you declare something that you believe and how you intend to prove it and then you describe the process by which you prove it, carry out the process and report on the results and give your conclusions. You have to do a lot of research on the subject first in order to identify the key questions you wish to answer, and then you will develop a preliminary, working or tentative thesis which you can refine until the evidence leads somewhere you are certain.

A good thesis has certain attributes: It should be contestable, with an arguable point proposed which can be disagreed with reasonably. It should even be provocative, taking a stand to justify the discussion you present. The subject of the assigned project must be adequately covered. The thesis must be must also be focused and specific. You must prove a point without discussing everything you can about the subject. So, instead of risk you would think about “measuring reputational risk in the banking industry”. Also, the thesis needs to assert your own conclusion clearly based upon the evidence. You can change your thesis if the evidence leads you to a different conclusion.

Your thesis must also include a map for the reader to guide them through your work. It must anticipate and refute the counter-arguments. Vague language such as “it seems” shouldn’t be used and the first person should be avoided – so don’t use language like “I believe”. Most of all it should pass the “Who cares” and “So what” tests – so your most honest friend mustn’t say “everyone knows that” when they hear about it – saying “pay can motivate people at work” would be an example.

You will know that your thesis is solid if when you tell a reasonable reader they immediately say “why” or “how” and don’t respond with “duh!” or “Gee no kidding!” Your thesis shouldn’t include general phrasing or sweeping words like “none”, “all” or “every”. The reader should be lead to the topic sentences and the subtopics have to prove the thesis. The thesis must be adequately developed during the length of project or paper required.

The reason to choose an MBA thesis instead of a dissertation or the business research project is that you can really examine an area you are interested in and if the thesis is good enough then it can be a really exciting calling card for you on your career search.

The Importance of doing an MBA

2011-06-13T21:13:00.000+05:30

With an ever increasing number of corporate organizations who require efficient,
smart and hardworking people with a pleasing personality capable of managing their resources, MBA education has gained tremendous popularity in the last decade. In addition, global MNCs are investing in countries across the world. These companies have created huge establishments in various parts of the world and truly, only an MBA with multiple skills is best suited to manage them today.

MBA education in India is growing at a frenetic pace and has become the most favoured option of a Post Graduate course in our education system today. There has been a proliferation of Institutes offering the MBA course in India in the last decade.

A full-time MBA usually comprises of 4 semesters that includes dissertation and project work in the form of summer and winter internships where they get a chance to work with an Organization and learn about the environment in the Industry. They also get to specialize in any of the key functional areas such as Marketing, Finance, Human Resources, Operations and Logistics, Information Technology, Systems, International Trade and Business, Consumer Behaviour, or Risk Management, to name a few.

The other options available for professionals are an Executive MBA, a part time MBA, distance learning and even online MBA courses which are becoming increasingly popular in India. Successful completion of an MBA course in India from a reputed Institute can promise a career that can reach great heights.

Another option for those who can afford is an MBA in an Institute of repute from abroad. Studying abroad gives you the opportunity to gather new experiences and find an international standard of education. There are many good MBA colleges abroad that offer a wide variety of Management programs to the students from around the world. However, a note of caution for those aspiring for a degree from abroad. Please check the antecedents of the University / Institute carefully through a reputed overseas education agency as the investment is high and one should know exactly what one is getting.

The chances of getting duped with false claims are also high in such cases. It is also wise to have a friend or relative in that country who has already done or is doing a similar course and can authenticate the veracity of their claims.

Ranking of MBA Institutes

2011-06-13T21:09:00.000+05:30

This is one area that leaves one more confused at the end than in the beginning.
The number of agencies who carry out ranking are increasing day by day and it is very difficult to separate the chaff from the gain as the criteria for assessment are not the same, also the worthiness of the agency itself is sometimes in question. Certain guidelines that must be kept in mind are whether the rater has a global stature, the criteria used for rating are relevant, whether the process is transparent and there is universal acceptance of the results. According to a recent issue of Business Week four factors decide your future in selecting the best B-School for admissions. These are:

1. A high calibre faculty
2. A good Grading system.
3. The quality of Internships done by students.
4. Wide choice of electives.

In India, only five leading management opinion leaders commission B-School ranking by a Gallup which includes Random digit dialling (RDD).

The Key people who do this are:
1. Business India
2. Business Today
3. Consortium for Strategic Management and Organisation Development (Cosmode)
4. Outlook
5. All India Management Association

A well structured method of B-School Ranking followed by these agencies in order to ensure uniformity in the ranking process. This includes key input from areas such as the quality of students, the companies that come for campus placements, the infrastructure and facilities provided to students based on the B-School's research output in the form of case studies developed, live projects handled, workshops conducted, and finally the quality of intellectual capital of the faculty in terms of their contribution to peer review journals.

9 Common misconceptions about an MBA

2011-06-13T21:05:00.000+05:30

This is one input that I must add in my article as it clears many wrong perceptions regarding the hype created around the magic word MBA

1. Anyone can do an MBA

Perhaps anyone can complete one of the low quality MBA programs available. However, to attain an MBA from a respectable B- School will mean a lot of hard work and dedication.

2. All MBA Schools are equally good
If you are looking to improve your career path, enhance your salary or develop yourself then only a few good MBA programs will be of any use. Top business schools are ranked highly in reputable MBA rankings

3. MBA Rankings are not that important
Attaining a top ranking on one of the influential MBA rankings is extremely essential to the reputation of an MBA program as this enhances the chances of good placements and career progression

4. An MBA guarantees a high salary
Attaining a good MBA makes achieving a high salary more probable however there are no guarantees. Just as career progression isn't guaranteed by having an MBA so a high salary isn't guaranteed either.

5. Distance/Correspondence MBA Courses are adequate
Not at all, as a great part of MBA programs is learning from others in your class and learning to work in high performance teams.

6. MBA Programs are expensive
Good MBA programs are costly to attend. However, an MBA should be treated as an investment rather than an expense.

7. Competent business people don't need to do an MBA
Self development is necessary to better oneself and employers frown upon people who do not enhance their skills. An MBA program is one of the best ways to do so.

8. Experience isn't necessary to attend an MBA Program
Having relevant experience, and being able to apply that experience to MBA studies, is essential in getting the most from MBA programs.

9. An MBA Program teaches everything needed to succeed in business

Wrong! Natural ability is indispensable and MBA programs don't teach absolutely everything. If for example, you are a terrible communicator, then completing an MBA won't necessarily make you any better at this essential competency.

Marketing Should be built Right in to the product - Seth Godin

2011-06-13T20:58:00.000+05:30

I have been reading a little about Seth Godin, who is a renowned marketing guru,
the author of "Purple Cow","Permission Marketing","Unleashing the ideavirus" etc. His readings are thought provoking.

I liked his statement idea that marketing should be built right into the product. The people who really make the product successful are the people who invent it and not those who market it. For example : Starbucks. They dont spend a lot of time on direct marketing . But they spend a lot on quality of coffee beans and the lighting in stores. And , then the creative idea of putting Wi-Fi in coffee stores.

Then he goes on to say, how marketers need to thing different, not the conventional way to achieve product growth (especially for an already saturated market). More importantly, marketers should stop lying and cheating the customers. Don't steal their permission's ( example spam mail). This causes less access to the consumers and makes the customer ignore or hate sales pitches.

By the way, it was interesting to note that in UK an complete ad channel was launched, which shows only commercials.

What is an MBA?

2011-06-13T16:21:00.000+05:30

The Master of Business Administration is a postgraduate that is internationally recognized as a business management qualification. But it is more than an academic degree. A good MBA is preparation for business management involving a combination of practical training and theoretical learning. What managers, executives and other types of business professionals are being prepared for are the complex managerial tasks which may sometimes need non-standard solutions for them to succeed in the highly competitive business environment of today.

In the 19th century the Harvard MBA program in the United States pioneered the concept of professional business training. Despite its age though, the MBA is a dynamic, modern, innovative and future-oriented program. The MBA has a unique result-focused and interdisciplinary approach, which makes it popular among the worldwide business establishment. It is not seen as just a degree, it is more of a lifestyle and a philosophy.

Some people, particularly those tasked with recruiting for companies in the UK , seem to lump the MBA with other academic degrees. But they need to be a lot more open-minded about that. Unlike other postgraduate degrees like a specialized Masters, the MBA is actually a generic program allowing for a high amount of flexibility. The curriculum has some core components, which ensures a uniform approach with every student learning essential managerial knowledge which can then be applied to a wide range of business situations.

The core component of the MBA features courses in finance, economics, accounting, marketing, organizational behaviour, operational management (logistics), business law, information management and technology and human resource management amongst others.

The elective component of the course allows students the freedom to select the courses that particularly interest them. Thus you have the core courses to address the needs of every manager then the elective courses which address the individual’s professional needs. Different programs offer different electives, but you should find that each course will focus either on a particular aspect of business administration, or a region in the world, or a particular industry. Thus a student may be choosing from e-commerce, entrepreneurship, business in Europe, derivatives, business and the environment, and many others.

The learning method of the MBA also distinguishes it from traditional academic programs. The method is one where individual competition and team-work are combined amongst a course with academic theory complemented by real-life problem solving using practical business case study. Interaction amongst students is informal as well as formal, with creative thinking encouraged. Leadership potential is promoted whilst not forgetting the importance of corporate ethics and team spirit.

An MBA course sees students coming from different cultural and professional backgrounds coming together to share experiences and expertise in a highly stimulating learning environment.

Is an MBA Worth it?

2011-06-13T16:17:00.000+05:30

There is a scene from a FedEx commercial aired on U.S. TV a few years ago. It lives
on at Youtube, where two different postings of the 30-second ad have been viewed almost 91,000 times (type in key words “FedEx” and “MBA” at www.youtube.com to view the spot).

The ad closes with the narrated tag line: “FedEx.com makes shipping so easy, even an MBA can do it.”

Does an MBA really teach grads useful skills for today’s corporate world? And is the degree a worthwhile financial investment in terms of cost and potential earnings – or do many MBA grads start out in the shipping room like the rest of us? As enrollment figures and tuition costs continue to soar, the debate over the value and relevance of a grad school business degree is also heating up.

“There’s nothing you can learn at business school that you can’t learn by reading 40 books,” says Seth Godin, 48, who sold his first company, Yoyodyne, to Yahoo! for $30 million US in 1998.

“[An MBA] is an excellent filter” for companies hiring in certain industries, Godin concedes, simply because MBA entrance criteria are so rigorous. But he believes an MBA is only financially worthwhile for a narrow group of people: those aiming for top jobs in traditional sectors like Wall Street investment banking where ‘old boys’ school’ connections can still make someone’s career.

But he notes that, with the exception of himself, “none of the top entrepreneurs in the world have MBAs”, implying that MBA schools are populated by followers rather than leaders: “A big part of an MBA program is doing what you’re told.”

My GMAT Experience - A Guest Post

2011-06-13T14:22:00.000+05:30

It was about a year ago that I came to Barcelona. I was on my “campaign” looking
for an appropriate job in Spain, and it was then that I decided to start preparing for the studies which I planned to undertake in a couple of years’ time. My brother had just entered the INSEAD MBA, so I received a lot of practical information from him. One of the things he had always emphasized was to “start early and find the right counselor”. He told me how he had struggled with the GMAT and later on with the essays in his application, and always stressed the importance of having a much-experienced person beside you to help you toward being accepted for the MBA you might want.

First of all, I really thought that it was just another mathematics and English test, even though I had heard that it actually had little to do with the knowledge of those subjects. Now, after having prepared for and taken the GMAT, I know that this is actually the case. And even though, at first, I was skeptical about going to an expert coaching methods of teaching “strategies” to “crack” the GMAT, I am now convinced that this is the simplest and most efficient way to get the score you need on this self-adaptive test.

The GMAT is like playing golf. In the end you do not compete with other players, you compete with yourself and with the handicap you have achieved the last time. When you are in front of the screen with just another question about “a train leaves from point A to point B”, you should not think about formulae, about geometrics or any other complicated mathematical issues.

You should know that the GMAT is like fighting against yourself: the better you are, the harder it gets. But the harder it gets the more satisfied you are in the end for having “cracked” it! It all comes down to your creativity in seeing the same problem from a different angle, to your determination to strive not for 650 but for 800, to working under pressure, and to quick decision making.

When to take the GMAT

2011-06-13T14:16:00.000+05:30

Taking the GMAT during the senior year of your undergraduate work or shortly thereafter is recommended, rather than waiting until after work experience is gained. This is because students score higher while they are still in the academic or test-taking “mode.” It is suggested that the GMAT be taken several months before the application deadline for the following reasons:

It will take a few weeks for official GMAT scores to reach each school. An official offer of admission cannot be extended until the school has received the official GMAT scores.
To allow applicants to opportunity to study and retake the GMAT (and still meet the application deadline) should previous GMAT scores be unrepresentative of ability or too low to merit consideration for admission
To allow applicants the opportunity to meet scholarship deadlines and benefit from other advantages that early admission to an MBA Program provides.

You may take the GMAT once every 31 days and no more than 5 times in a 12 month period. If you score 800 on the exam, you will be prohibited from testing for 5 years from your exam date (scores are valid for 5 years). Most schools will only consider your highest score along with your application. Some schools have a limit on how many scores you can submit. Most schools do not have a minimum required score.

Tackling the Reading comprehension section of GMAT

2011-06-13T14:13:00.000+05:30

The Verbal section of the GMAT will contain two written passages (each between 400 - 600 words long) followed by a series of questions. Passages can be about any

subject, but the most common themes are politics, history, science, business and the humanities. Most readers find the passages difficult because the subject matter is dry and obscure. Many are written in the passive voice and contain unpronounceable words. By design, no academic background offers an "edge" or greater likelihood of success in this section of the test. The material is purposely selected to test your reading comprehension, rather than your understanding of a specific subject area.

This ensures:

a) the passages do not require the reader to have any specialized knowledge in the subject area

b) everything you need to answer the questions is presented in the passage

The passages always use a formal, compact style. They are excerpted from academic journal articles, but are not printed verbatim. The original article is heavily edited to just one-quarter to one-third of its original length, retaining the formal style of the piece, but removing the introductory material, fillers and transitional phrases. Worse, passages are untitled and often start in the middle of an explanation or discussion, so the reader must jump in with no clear point of reference. The purpose of the section is to determine if you can quickly identify the structure, objective and logic of a long, difficult passage and apply the author's premise to new situations. To succeed in the rigid timeframe, students must read with a different mindset than they use in most traditional coursework.

Here are the exact directions used on the exam:

Directions: Each selection in this test is followed by several questions. After reading the selection, choose the best response to each question and mark it on your answer sheet. Your replies are to be based on what is stated or implied in the selection.

Reading styles are subjective, as what works for one person may not work for another. Success with these passages depends on your individual style. We can't recommend speed reading, which is designed for ordinary, non-technical material. Because passages are so dense, you can not skim over a single sentence without missing key information. You should read faster than normally, but not to the point that your comprehension suffers. Experiment to find your optimum pace. Some guides recommend that you read the questions first, then go back and read the passage. Sadly, few students will have enough time for that approach. In some cases, the questions and answer choices are longer than the actual passage! Take a few seconds at the beginning of the section and scope out the passages. Read the first line of each and determine which will be easiest for you and which will be hardest. Do the easiest one first. Don't waste precious time on a dense, difficult passage. Rack up as many "easy" points as possible first, then return to the hardest questions.

The Five Questions

The key to performing well on the passages is not your particular reading technique, but in your familiarity with the types of possible questions. In general, there are only five question types explored on the reading comprehension test:

a) Main Idea

b) Details

c) Organization

d) Extension / Application

e) Attitude / Tone

As you become familiar with the different question types, you will gain an intuitive sense for the places from which they are likely to be drawn. You can then approach these questions quickly and efficiently. Generally, the order in which the questions are asked corresponds to the order in which the main issues are presented in the passage. Early questions should correspond to information given early in the passage, and so on.

a) Main Idea Questions

Main idea questions test your ability to identify and understand an author's intent. The main idea is usually stated:

i) in the last (occasionally the first) sentence of the first paragraph ii) in last sentence of the entire passage.

Main idea questions are usually the first questions asked in the question set.

Some common main idea questions are:

Which of the following best expresses the main idea of the passage?

The primary purpose of the passage is to ...

In the passage, the author's primary concern is to discuss. ..

Which of the following would be an excellent title for the passage?

Main idea questions are usually not difficult. If you don't catch the main idea after your first reading, review the first and last sentence of each paragraph. These will give you a quick overview of the passage.

Because main idea questions are relatively easy, the test writers try to obscure the correct answer by surrounding it with close answer-choices that either overstate or understate the author's main point. Answers that stress specifics tend to understate the main idea, while choices that go beyond the scope of the passage tend to overstate the main idea. The correct answer to a main idea question will summarize the author's argument, yet be neither too specific nor too broad. In most cases, the main idea of a passage is found in the first paragraph or in the final sentence of the entire passage.

b) Detail Questions

Detail questions refer to a minor point or to incidental information in the passage, but not to the author's main point. These questions take various forms:

According to the passage. ..

In line 25, the author mentions....for the purpose of ...

The passage suggests that which one of the following would....

The answer to a detail question must refer directly to a statement in the passage, not to something implied by it. When answering a detail question, find the point in the passage from which the question is drawn. Don't rely on memory, as many tactics are used with these questions to confuse test takers. Not only must the correct answer refer directly to a statement in the passage, it must refer to the relevant statement. The correct answer will be surrounded by wrong choices which refer directly to the passage but don't address the question. These choices can be tempting because they tend to be quite close to the actual answer.

Once you locate the sentence to which the question refers, you must read a few sentences before and after it to put the question in context. If a question refers to line 30, the information needed to answer it can occur anywhere from line 25 to 35. Even if you spot the answer in line 28, you should still read a few more lines to ensure you have the proper perspective.

c) Organization of the Passage

Because they are derived from diverse subject areas, passages can cover an infinite number of topics.

While main idea questions ask the purpose of the piece, organization questions ask how the author presents his ideas. While authors can theoretically use an endless number of writing techniques, most test passages use one of just three organizational styles:

i) Compare and contrast two positions

This technique simply develops two ideas and then explains why one is better than the other. Some common comparison phrases include "by contrast" or "similarly".

Typical questions for these types of passages are:

According to the passage, a central distinction between a woman's position and a man's is:

In which of the following ways does the author imply that birds and reptiles are similar?

ii) Show cause and effect

The author demonstrates that a particular cause leads to a specific result. Sometimes this method introduces a sequence of causes and effects: A causes B, which causes C, which causes D, etc. Hence B is both the effect of A and the cause of C.

iii) State a position and then offer supporting evidence

This technique is common with opinionated passages. Many authors prefer the reverse order, where the supporting evidence is presented first and then the position or conclusion is stated.

Following are some typical questions for these types of passages:

According to the author, which of the following is required for one to become proficient with a computer?

Which of the following does the author cite as evidence that the species is dangerous?

d) Extension / Application Questions

Extension questions require you to go beyond what is stated in the passage, asking you to draw an inference, to make a conclusion, or to identify one of the author's tacit assumptions. You may be asked to draw a conclusion based on the ideas or facts presented:

It can be inferred from the passage that. ..

The passage suggests that. ..

From this we can conclude that.....

Since extension questions require you to go beyond the passage, the correct answer must say more than what is stated in the passage. The correct answer to an extension question will not require a quantum leap in thought, but it will add significantly to the ideas presented in the passage.

While extension questions ask you to apply what you learned from the passage to derive new information about the same subject, application questions go one step further, asking you to apply what you have learned from the passage to a different or hypothetical situation.

The following are common application questions:

Which one of the following is the most likely source of the passage?

Which of the following is an appropriate title for this piece?

Which one of the following actions would be most likely to have the same effect as the author's actions?

The author would most likely agree with which one of the following statements?

Which one of the following sentences would the author be most likely to use to complete the last paragraph of the passage?

To answer an application question, consider the author's perspective. Ask yourself:

what is he arguing for?

what might make his argument stronger?

what might make it weaker?

Because these questions go beyond the passage, they tend to be the most difficult. They require you to pick up subtleties of the author's attitude.

e) Attitude / Tone Questions

Tone questions discuss the writer's attitude or perspective. Does he feel positive, negative or neutral? Does he give his own opinion or objectively present those of others? Before reading the answer choices, decide whether the writer's tone is positive, negative or neutral. If you didn't get a feel for the writer's attitude on the first reading, check the adjectives used (they nearly always have a strong positive or negative connotation).

Beware of answer choices that contain extreme emotions. Passages are usually taken from academic journals, where strong emotions are considered inappropriate. The writers usually display opinions that are considered and reasonable, not spontaneous or off-the-wall. The tone or attitude of a passage closely parallels the main idea. If the author's intent is to explain the reasons for abolishing slavery, the tone is explanatory or encouraging, not negative or discouraging. The correct answer will also be indisputable. The test writers NEVER allow the correct answer to be vague, controversial or grammatically questionable.

Key Words That Identify Potential Questions

Each passage contains about 400 - 700 words and only a few questions, ensuring that you will NOT be tested on most of the specific details. Your best reading strategy is to identify the places from which questions will most likely be drawn and concentrate your attention there.

Key, pivotal words indicate contrast, warning that the author is about to either make a U-turn or introduce a counter-premise (a concession to a minor point that weakens his case).

Common pivotal words include:

But, Although, In, Contrast, Even though, Nevertheless,However, Yet, Nonetheless, Except, Despite...

These words show where the author changes direction, providing natural places for questions to be drawn. The test writers form questions at these junctures to test whether you followed the author's line of reasoning or got lost. Sentences containing pivotal words nearly ALWAYS contain the answer to a test question.

Handling Incorrect Answer Choices

One of the most difficult tasks in writing test questions is composing tempting, incorrect answer choices. In most cases, only two of the five choices will have any real merit. We've observed several common threads in the wrong answer choices that most test takers should consider. Be on the look-out for the following:

a) For main idea questions, incorrect choices use the wrong verb and focus on supporting details, rather than the main point of the passage. Incorrect choices also tend to either overstate or understate the author's view. Beware of extreme choices, as they are often wrong. Correct answers tend to be rational, measured responses. Other tempting incorrect answer choice are "half-right, half-wrong", incorporating some of the author's view, but not a complete match. Other wrong answers pick a point of view that is inconsistent with the author's.

b) On detail questions, incorrect answer choices distort the author's words or are exact opposites of the correct answer.

c) For inference questions, incorrect choices distort the passage's ideas and go beyond the scope of the passage. For application questions, wrong choices are not parallel or analogous to the situation in the passage.

d) Incorrect tone answers are overly emotional or the opposite of the correct answer. Some incorrect answers are odd combinations of adjectives that make no sense in real world applications, such as "detached ambivalence", "enlightened apathy", and "muffled denial".

e) Sometimes incorrect answers are logically wrong. They misrepresent the author's purpose or focus on the "what" rather than the "why" of the detail.

f) Watch for unusual or uncommon usage of words. Students sometimes overlook points in passages because a familiar word is used in an unfamiliar manner. An example is champion. As a noun, champion means a hero or accomplished person. Yet, a verb, champion means to support or advocate.

g) Be wary of extreme answers that contain "all or nothing" buzzwords such as must, always, impossible, never, cannot, each, every, totally, all, solely and only. Few passages will be written in such an absolute tone.

The Truth About the GMAT

2011-06-13T14:02:00.000+05:30

The GMAT is not as scary as it sounds, and a lot of graduate students will tell you
it is one of the only things about the application process that is in your control.

You may not be able to change your GPA or work history but you can dramatically alter your GMAT score with some studying tips. First, you should give yourself two to three months of studying time before you take the GMAT. In these months try to devote one to three hours a day to GMAT related material and five to six hours on the weekend. This time commitment may seem extreme but it will put you on track for a great score and will allow you greater confidence when you take your test.

In the very first week of your prep, you should familiarize yourself with the basics of the test: structure, types of questions, directions, time limits, scoring, etc. All these elements are important in helping you understand the logic behind the GMAT.

After you are familiar with the outline and elements of the GMAT you should assess where your skill level is. This way you will know how much you should be studying. Search the web for a free GMAT practice test, there are many out there and any will do.

After you know what score you have you will be able to pinpoint exactly what you will need to work on. Most prep materials recommend devoting five weeks to the verbal section of the test. This is because the math portion is relatively simple; you will never see calculus or advanced mathematical problems on the GMAT however, you will see verbal questions that you most likely would not have been familiar with without studying.

As you proceed through the studying process take a practice test every few weeks to see how you are improving. With great study habits and patience you will defeat the GMAT, good luck!

What an MBA Can Do For You

2011-06-13T13:57:00.000+05:30

Everyone is suffering from the poor economy these days, but no one feels the blow more than college graduates. These usually bright eyed and bushy-tailed young people see the future as an endless opportunity, until they look for a job or submit a resume.

You do not have to wonder what you will be doing with you undergraduate degree after you graduate if you apply for a Master of Business Administration from Washington State University. Whether your undergraduate degree is in Biology, English or Communication a MBA will only help you further your career in any field to supply you with the business skills you need to be savvy in today’s economy. An MBA can not only give you relevant skills but can also help you dramatically increase your salary.

You do not have to have any prior knowledge of business to apply to the program and the knowledge you will gain after getting an MBA will be everlasting and universal.

The Graduate Management Admissions Test

2011-06-13T13:21:00.000+05:30

The Graduate Management Admissions Test, more commonly referred to by the
acronym GMAT (pronounced G-mat) is a standardized aptitude designed to measure basic verbal, mathematical, and analytical writing skills. It is often required as a prerequisite for graduate business studies. The GMAT test is one of the selection criteria used by many business schools for admission into their MBA programs. The fee to take the test is currently US$250 ( (this cost is subject to taxes when you schedule an exam in certain countries) worldwide and scores are valid for five years from the date the test taker sits for the test.

The GMAT exam is delivered via computer in individualized workstations. The GMAT test is administered by ACT Inc. (which develops the test questions and CAT software) and Pearson Vue (which delivers the test at testing centers worldwide). The GMAT is a computer adaptive test. This means that the multiple choice questions in the quantitative and verbal sections are adjusted to the ability level of the test taker.

Specific details on how the computer adaptive test process works can be found online at the Graduate Management Admission Council’s website. Because the computer test system will not advance to the next question without answering the current question, all questions must be answered. In cases where the answer is not known, it is therefore necessary to make an educated guess. It is also imperative that all test questions are completed. Therefore, proper pacing throughout the test is necessary.

The test consists of three main parts: the Analytical Writing Assessment, the Quantitative Section and the Verbal Section.

Part 1 ~ Analytical Writing Assessment (AWA):

The AWA consists of two separate writing tasks—Analysis of an Issue and Analysis of an Argument. Test takers are allowed 30 minutes to complete each essay. The essays are read by two readers who each mark the essay in 0.5 increments. If the two scores are within one point of each other, they are averaged. If there is more than one point difference, a third reader is asked to read the essays to provide another opinion.

The first ‘reader’ is a computer program, called ‘Intellimetric’, developed by Vantage Learning to analyse syntax, grammar and spelling. The second and third readers are human. The human readers generally look at the overall impact of the essay. Although spelling does not formally count against your score, it can bring your score down if the reader can’t understand what you are saying due to misspelled words. There are no length requirements for the essays. The readers are looking for well structured writing that flows smoothly.

Part 2 ~ Quantitative Section:
Following an optional ten-minute break, the Quantitative section test begins. This section contains 37 multiple-choice questions of two question types—Data Sufficiency and Problem Solving. Test takers are allowed a maximum of 75 minutes to complete the entire section.

Part 3 ~ Verbal Section:
After a second optional ten-minute break, the Verbal Section of the test begins. This section contains 41 multiple-choice questions of three question types—Reading Comprehension, Critical Reasoning, and Sentence Correction. Test takers are allowed a maximum of 75 minutes to complete the entire section.
Required Scores

The verbal and quantitative sections of the GMAT have scores that range from zero to 60. These raw scores are then converted to an overall “total” score that ranges from 200 to 800. Two thirds of all test takers will have a total score between 400 and 600.

Most business schools don’t publish the minimum score they require. Generally, however, top schools take in students with scores in the upper 600s. Other less prestigious schools will have average scores that may be in the 500s or less. Remember that half of all successful applicants will have scored below the median mark. Business schools also look at real work accomplishments, undergraduate performance, and references etc. when selecting candidates.

Last Minute CAT Preparation Guide

2011-06-10T10:26:00.001+05:30

M.B.A - Master of Business Administration, a degree many of you have been hearing ever since you learnt about taking jobs, especially during your high school days. Apart from becoming a doctor, or an engineer, this is one degree that will never get out of fashion, and is one of the most coveted one's.

Nowadays, many run-of-the-mill institutes have come up with their own MBA programs, especially in India, and almost every other person you meet may be doing a correspondence MBA course. But, if you really want a degree that has some real value, there is nothing to beat the IIM's. To get in to one of the IIM's is no meant task and you will need to bell the CAT to get into one of these premiere institutes.

The Common Admission Test (CAT), is a common entrance exam that you have to take to get admission to the Indian Institute of Management (IIM), at Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, and Kozhikode. Many other institutes like, MICA, Nirma Institute of Management, S.P. Jain Institute, also draw out their candidates based on the performance in CAT.

The exam itself consists of four parts which are Verbal Ability, Reading Comprehension, Problem Solving and Data Interpretation. All the questions are multiple choice, for every correct answer, one mark is awarded and for every wrong answer, 1/4th of a mark is deducted.

The following is a last minute preparations guide for your CAT entrance exams to the MBA.

Don't waste your time going through new materials just a few days before the CAT, instead revise your fundamentals and take full length tests or opt for some online module tests. Stress should be applied on the use of one concept on various aspects of a problem, try to find a better way of solving the question. Rather than studying for hours together, limit yourself to 2-3 hours of intense concentration, wherein you make your fundamentals stronger. The rest of the time can be spent on trying to find easier methods to solve a question.

Ideal Strategy:

Don't change your strategy of taking the test. Stick to what you had planned earlier, especially true if this strategy has rewarded you well earlier. For example, you would know if your best bet is to scan a passage and then move onto to the questions, while another person could be more at ease scanning questions before going onto the passage. So just stick to whatever works best for you.

Analyse the Tests:

Test-taking is the most important aspect of your preparation now. Take two or at the most three tests a week. Test-taking should be followed by an in-depth analysis of the complete paper. Analyse what mistakes you have committed and how you will rectify them. Also check the questions that you have missed, and whether you have missed any 'easy' question! That will help in your choice of questions later. Remember, CAT is not about last minute cramming and revising. It's about being alive and mentally alert, here and now.

For CAT-Day:

One of the biggest pitfalls is that as students we always search for short cuts, asking 'which is the easiest way out and which are the easiest questions?' A critical issue here is the tremendous urge to skip questions. We tend to lose concentration at different stages during the exam and tend to skip questions because of the pressures of time. But things get better if you follow a couple of golden rules. If you want to identify the questions to attend, it is imperative that you read all the questions.

Learn to relax.

CAT is not the end of your life. Many a time, very high potential students have not made it to the IIM's because they could not handle the pressure. So unwind, go for movies, do things that help you relax, go for walks, listen to soothing music, meditate. People who stick it out, hang in there and continue to peg away will make it.