Monday, 30 January 2017
When we come across a smart professional, highly apt at their game, it is a natural phenomenon that we get immediately impressed and can’t help but develop a certain curiosity.The curiosity is about getting to know the person up-close and trying to find out whether it is a born trait or an acquired skill set that makes them the winner they are today.
Yes, there is a distinct possibility that such charismatic people might be gifted in their DNA, but it is through intense professional training that skills are honed and polished.
It is no secret that MBAs from top notch B-Schools are dominating the corporate structure globally and the one thing about all these graduate management programs worldwide is the fact that almost all of them are delivered the full time on a residential campus. Most of these corporate honchos will tell you that they were not the same animal and even their shadows looked different before they got into a business school.
The classroom has its limitations of a pre-decided curriculum, so the bulk of the actual transformation happens beyond the walls of these lecture halls.
The entire persona of an aspirant becomes an adapted coagulate of the whole experience that the student goes through, right from the classroom, libraries, canteens to the dorms/hostels. Peers and seniors significantly influence once thought process as they are the most relevant, being in the same ambiance going through the same rigors and challenges.
MBA is a two-year lifetime experience that includes case studies, group discussions, debates, workshops, projects and so much more. The optimum outcome of this entire process flow happens when learning is through spending time with like-minded batch mates and professors beyond the stringency of classroom timings. This is substantially observed in a Hostel environment where community living is encouraged.
The diversity that students enrolled from various academic and cultural backgrounds bring in are breeding grounds for new innovative ideas and becomes a primary source of networking for fellow students. This diverse experience when only confined to classrooms will go underutilized until the adequate time is spent with classmates who also become hostel mates after class hours.This gives sufficient opportunities to develop the camaraderie through engagement in intellectual masturbation while brains are picked in assignments, case studies, etc.
The MBA experience at GIBS is not limited to academia only as recruiters are hunting for a well-rounded profile.The extra curriculum is not confined to sports or music anymore, so classrooms are not enough to provide the essential.The Hostel follows its curriculum where cultural fraternities, sororities, and clubs, are hubs of intellect stimulation. Many entrepreneurial blueprints are designed under these Hostel roofs, and fresh ideas flow unapologetically and unflinchingly in late night “addas”.
Considering the time saved from an everyday traveling adds ounces of energy to a student’s already stressed out mind and body, but often special lectures are scheduled on odd hours which almost becomes inaccessible to students not staying nearby and becomes an incredible loss of opportunity.
Summing up, it is needless to say that a residential program adds soul to the whole learning experience in the MBA curriculum at GIBS.Even if it might look like an unnecessary expense for students whose homes or relatives are not too far, it is an investment worth every penny of it.
Home or a homely atmosphere can be distracting at times and two years is just too little to let even a moment pass by that is not well spent and adds value to one’s pursuit of achieving the objective of joining an MBA program.
Friday, 6 January 2017
Tuesday, 3 January 2017
The introduction of new 2000 and 500 notes came in as a shock and surprise to most people in the nation. Although the notion behind the introduction was supported but the practicality was critiqued. But one good aspect of all this was the push unto cashless economy that people have been talking about. ArunJaitley, the Finance minister of India, said “The note Ban is not merely nudge the economy in the direction of cashless economy but [give it] a significant push in that direction.” The general public were still digesting the whole note ban phenomenon when this new cashless idea came forth.
Basically a cashless economy means an economy that runs on digital cash which includes debit and credit cards, e-wallets, e-payments, and online transactions like NEFT, RTGS etc.
In a country like India, it seems very radical to change to a cashless economy as cash in its liquid form is used very widely. 85-90% of the economy runs on cash transactions and people seldom use the cashless way to deal in day to day life. The demonetization move actually made 85% of India’s cash null. Time had come for people to take a new carved way i.e. the cashless way.
Cashless economy has been laudedfor the reason that it will actually curb down the black money in the economy. Furthermore, these transactions leave a trial which can be used for taxation purpose. These new methods of transaction will provide universal banking services to all the people in the country making it easier to transact between far off places as well. 1 in 7 notes is supposed to be fake, which has a huge negative impact on economy, by going cashless, that can be avoided. The costs in online transaction seems to be the main concern for people to use their cards right now, but this will reduce immensely if the cashless action plan takes a full swing.
However, cashless economy has been criticised for various reasons. One of it being the fact that common people feel it is very complicated to deal everything online. Another reason is that internet and financial literacy might not be there among some people. India is dominated by small retailers. They don’t have enough resources to invest in electronic payment infrastructure. Another major fear that has risen is that of hackers who might take control of the banking system itself. So people are quite sceptic about this as well.
It has been 50 days that Mr. Modi asked for. And today we can see not much has changed except for the fact that even the vegetable vendor has a card machine to transact. So whether the country is going through an economic development or a degradation, this time will only tell.
Demonetisation is being called one of the boldest and drastic measures taken in the history of independent India by Prime Minister Modi. The move has been lauded for being an excellent step towards eradicating the infamous black moneyin our society. It is told to bring back the unknown black money and make India a much richer and safer place to live in.
But what kind of an impact does this have on common men, the small traders, and other small shop owners.
Post announcement of the demonetisation move, people rejoiced that black money and all the evil that came with it would disappear. The next day itself people realised that this was a huge step taken rather hastily.
Now, almost after one month of the announcement of the move, people seem to be frustrated. Especially the common, poor and the daily working men. There have been complaints about how people waited in the queue for almost 8 hours to get their money exchanged with the new notes.
The small trader and small shopkeeper say that their business has been the worst hit since one month. These people deal with liquid cash on a day-to-day basis and due to the unanticipated note ban, their business has been hit adversely. The flower, fruits, and other road side vendors said that they usually bought their goods in bulk for a 500 or 1000 rupees. But could not do so as the wholesaler did not accept the notes. They earn money on a daily basis and suffered immense loss.
Similarly, the daily wage worker, who are required in all types of industries, were also largely hit. These people get paid at the end of the day after they do their and usually are paid around 800 to 1000 rupees. With insufficient hundred rupee notes with their employers, daily wage earners were either denied of any work or were told they would be paid in a later day. These worker earn the money to meet daily needs and cannot forgo the money that they get. They say it was a not a good move at all.
Furthermore, the same common and ordinary working citizens have questioned the functionality of 2000 rupees. The small traders and shopkeepers deal more in hundreds than thousands. Thus, they wonder where to find change for a rs.200 sale if the customer gives a 2000 note. This has led to a lot of confusion and chaos.
Banks have seen a long line of queue in front of their office. Frustrated customers and equally frustrated bank officials do not mix well. There are quarrels reported and of course the death that was apparent due to waiting in the line.
With the unfolding of this new move, common people have started to have an opinion that the government is not for the poor while making a safe haven for the rich and upper class. However, there is still a majority of people who believe that this move is a good one and prosperity will soon be in our way. All that needs to be done is wait and watch.
On 8th November 2016, the Government of India took the bold step of demonetising all ₹500 and ₹1000 banknotes, ceasing the usage of all these banknotes as a form of legal tender in India. In an effort to stop the counterfeiting of current banknotes used to fund terrorism, and to control the black money in the country, the Indian Prime Minister Mr Narendra Modi made a live address to the nation declaring the usage of ₹500 and ₹1000 banknotes invalid, and announcing the issue of new ₹500 and ₹2000 banknotes, in a bid to reduce corruption, terrorism, and drug smuggling.
In the ensuing days, a lot has been written for and against this move. Although in general, the move to demonetise and thereby hinder black money was appreciated by the masses, the manner in which it was carried out, and the hardships caused to the common man has been criticised. It is important to understand the economics behind this historical move before forming any further opinion.
Demonetisation is a radical monetary step to invalidate a currency unit’s status as a legal tender. Such a monumental step is usually taken when there may be a need to change national currency, for example when the European Monetary Union nations decided to adopt Euro as their currency. In India’s case, this is a move to curb corruption and control counterfeiting by reducing the amount of cash available in the system.
There is no transparency or accountability for a significant amount of cash flowing through the Indian economy, with the money never entering the tax system of the county, hurting the Indian economy, and making the honest, working class Indian suffer. Due to large amounts of unaccounted money in the economy, the government is unable to collect enough tax revenues, prompting increasing of taxes, further impacting honest tax paying citizens. Rampant corruption exists because of a cash economy, as it allows the money to be unaccountable. Demonetisation may not completely weed out corruption, but it will enable the system to capture the flow of money.
This historical move is likely to have a significant impact because of being unanticipated, thereby not giving people any time to find means to park their black money. A cashless economy can help curb inflated prices, recapitalise banks, reduce interest rates thereby increasing capital inflow to the economy. Such monumental changes cause their share of inconveniences but recalibrating an entire nation’s economy is no small feat. Currently, only 2.6% of the Indian population pays taxes! The rest either don’t make enough money or siphon it off and bypass taxes. Accountability of the cash flow will help the system identify and keep track of the Indian currency, and control tax evasion. As Prime Minister Modi promised, it is a big leap towards building the “India of our dreams”.
An MBA is a very prestigious degree in itself, but today companies demand more than just a degree. They want their candidates to be all-rounders with an MBA degree. This is indeed a lot to cope up with for students. Thus, the choice of electives and many add-on courses makes a lot of difference in the future of the candidate.
Top 100 MBA schools in the world offer a variety of electives to choose from for whatever specialization the candidate has chosen to pursue. These should be the primary foundation for what to do in future.
If you have chosen marketing as your MBA specialisation then know what electives you can choose. Furthermore, do research and see what you can individually do to develop your CV. Probably taking online or certificate courses on online marketing or probably a personality development class will help a long way.
A specialisation in finance can be improved by a short term course on the stock market or any related short courses which can help you build your confidence level. These also add as a plus point while giving your interviews.
Similarly in all other specializations in MBA, there can be a lot of add-on courses that can be taken up on the side. These help in the overall development of a candidate and also adds a feather to their academic record.
Learning a new language is especially appreciated by many MNCs as their employees can travel to different places with this advantage. An MBA graduate with knowledge of a foreign language can keep their passports ready as they are expected to travel and work in different places throughout the world.
Familiarity with software like System application products or SAP adds as a huge advantage. Companies search for people with this faculty within them as this gives the candidate an extra edge over the others.
Attending various workshops, seminars and guest lectures related to your specialization or interests also adds as an advantage.
GIBS, unquestionably a best b school in India, know that their students deserve best and thus, they provide some these facilities and many more as a part of the curriculum. It is no surprise that the students enjoy their life here and come out to be the best among the lot.