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Pic: Jingdianmeinv1


The biggest news of the week, was the International Monetary Fund (IMF) rap on world debt markets a warning that dark days are looming ahead. In a message, the IMF sounded a global caution both Europe's debt woes and a painfully slow recovery in the United States could undermine global growth,without action those economies could tip back into recession. Whether that admonition brings in another 2008 in all its horrors is to be seen but definitely when Europe and the US sneeze, India cannot be far from catching the whiff. Already the rupee has declined to a new low, how the job market will react is anybodys guess. Placement work in many b-schools in India has begun and officials say it is too early to predict the season. For more on the IMF warning, read http://www.vision.org/visionmedia/article.aspx?id=48585


And now for some much lighter news if you wondering why super model cum TV host and author Tyra Banks is on the cover photo of this weekend piece, its because she is making news at Harvard Business School, where she has enrolled in an Owner/President Management Program. Coughing up a whopping $31,000 a year in tuition, the course requires a commitment of three weeks on campus a year for three years. But apparently, Tyra is staying on campus in the dorms with others. She is doing the course because (she has reportedly said) I think I could've leaned on all of my advisers. I have accountants, and lawyers, and investment bankers. But I don't want to be that girl when I'm meeting with them, where I'm like, 'Uh-huh, great.' I now can say what's the net present value on that? What's the discounted cash flows of that? And that's because of Harvard." Tyra is working on her book while at Harvard, the first of a three part series. And apparently she has developed carpal tunnel syndrome from feverish two-finger typing. Read more on http://abcnews.go.com/Entertainment/wireStory/tyra-banks-invites-readers-visit-modelland-14586324


Facebook was in news last week for all its changes - allowing people to connect in new ways like read, listen, watch etc. What does this mean for marketing agencies? An intersting blog in the HBR this week. Look up http://blogs.hbr.org/cs/2011/09/facebook_changes_upend_adverti.html


Still with Harvard, for some traditional research/survey news, a new working paper from the Harvard Business School has some never-before-said things about bosses. The survey estimates that an average boss actually works for only 48 hours a week and much of that time is spent in meetings or in a large conference. You probably hoping never to get a boss like that but to read on the kinds log on to http://www.wellingtonadvertiser.com/index.cfm?page=colDetail&itmno;=870


From Harvard to Wharton School aspirants - a written application may no longer be enough to seek admission. According to Vice Dean of Innovation Karl Ulrich, the current applications may not allow reliable assessment of applicants based on all qualities. Hence talking points will not centre on an applicants business acumen but general knowledge to showcase interpersonal skills and critical thinking ability. This years test will apparently aim to decide whether discussions will become a permanent fixture in the MBA admissions process. http://thedp.com/index.php/article/2011/09/mba_admissions_pilots_discussionbased_supplement


There is refreshing news from a Dukes Business School student Brian Hamilton, who is also co-founder and CEO of Sageworks. His companys outreach program called Inmates to Entrepreneurs is being much talked about. The idea, according to its Web site, is to educate inmates on how they can start productive, low capital businesses upon their release from prison. In addition to providing a valuable service to people who need it, it never occurred to Hamilton that what the program might do for him is make him appreciate his upbringing more and see his natural entrepreneurial spirit as a gift he can bestow. In other words, not take those things for granted. More on the venture in http://www.foxbusiness.com/personal-finance/2011/09/23/business-education-one-prison-at-time/


From the US to Asia, the National University of Singapore (NUS) Business School's Master of Business Administration (MBA) programme has topped Forbes' list of MBA rankings for the first time. This achievement lays testament to the superior education that Singapore has to offer to employees, says an article in http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/09/23/prweb8790923.DTL#ixzz1YmuCAEKU. PaGaLGuY had visited the NUS earlier this year. With a huge population of Indian students, the school did stand out in the crowd. Besides interesting course work, the campus atmosphere was indeed eclectic and full of beans and the rankings seem only appropriate.


Back home in Bangalore, The All-India Council for Technical Education (AICTE) has decided to go after those who plagiarise their final year projects. AICTE has decided to open a web portal where all students will be mandated to upload abstracts of their project. This is the report that says more. http://articles.timesofindia.indiatimes.com/2011-09-16/bangalore/30165073_1_engg-students-aicte-s-s-mantha



The University of Pennsylvania and the Wharton School on Thursday announced the establishment of the Wharton Innovation Fund. According to Wharton, "The fund seeks to promote the inventiveness and creativity of the academic community at the University of Pennsylvania in the design and development of new technologies or services which show promise for making a substantial impact on business or society as a whole."


The Fund will provides resources for students, faculty and staff to take projects that may begin in the classroom into the world at large, said a Wharton press release. "It supports student initiatives that show creativity and have a large potential impact. While the Fund gives preference to student-led projects, proposals that may involve faculty, students and staff will be considered as well, particularly those that leverage the Schools inventions and thought leadership in various fields of business," it added.


Approximately $125,000 in grants would be available each year. Inventions or ventures that emerge from student-led projects would remain the intellectual property of the student-inventors. In instances of inventions or ventures that leverage the Universitys intellectual property, any economic value will be shared among the inventors, the School and the University.


The application process for the Wharton Innovation Fund and criteria for selection are described on the website http://beacon.wharton.upenn.edu/innovation.

Delphique, National Management Convention along with SEED of MDI, Gurgaon is launching a unique International Business Coaching Program, 'Vincenza'. Vincenza will be held as a business coaching program, with a business plan competition as the prelude. Participants will be mentored by a panel of top venture capital partners and entrepreneurs in enhancement of their business plans.


"Every participant will be entitled to three free webinars in which the missing ingredients in his Business Plan will be explained. From legal and financial consultancy services, intensive mentoring and query solution platforms to providing various incentives, Vincenza will attempt to showcase an entrepreneurs journey from the concept stage to an actual start-up," said an MDI press release.


"The registered teams will hail from all over the world and will present executive summaries of their business plans. Only the top 50 participants will get the opportunity to go through the one-to-one mentoring program. The program will be conducted one month prior to the competition by leading practitioners to refine their business plans for the final round. The final top ten participants will get to pitch to top investors like Sanjeev Aggarwal of Helion Ventures, Sanjeev Bikhchandani of InfoEdge, and Puneet Vatsayan of The Hatch.


The registration started from 26th September 2011. The contest will be held in November from 18th 20th.


Pic: Whatcount's photostream


It's possibly the oldest rhetorical question and dean of Darden School of Business, Robert Bruner asks it once again for the sake of asking - Are business schools really worth it? Mark Zuckerberg (Facebook), Steve Jobs (Apple), Bill Gates (Microsoft), Sergey Brin/Larry Page (Google) didnt go to business school......" In his recent blog Bruner states, "that b-schools actually kill whatever entrepreneurial instinct a person might..... If you want to start a company just do it! B-school turns you into a big corporate type and deadens the entrepreneurial spirit. Just hang out in Silicon Valley or one of the other rich entrepreneurial ecosystems and learn how to start companies there. Who ever heard of a company being started in B-school? These are in fact, some of the hackneyed thoughts that Bruner questions in http://blogs.darden.virginia.edu/deansblog/2011/09/but-steve-jobs-didnt-go-to-b-school.


Still on the questioning the MBA, line, another piece in the Financial Mail asks whether the MBA bubble has finally broken. With the world reluctantly ushering in another round of recession and financial scams taking over public memory, will the MBA grad fall short of what he is basically expected of find a job? Especially, with so many of the scams of the past decades partly caused by MBAs! The article reads: An MBA may teach students about leadership, finance and management ... but does it teach them how to find a job?" The article continues "the degree still has enormous benefits, particularly in emergent regions where economies are booming. The London Financial Times reported that graduates are in huge demand in Mexico and Brazil. Its the same in parts of Asia: in India, the qualification even opens up social standing and marriage prospects."


The above makes sense given the fact that unlike India in most b-schools abroad, 'placements' is a foreign word. Students have to drive themselves to find jobs with little or no help from their school. Yes, job fairs and such are there but it's not like a thousand companies swooping on the campus in a few days and and taking their pick. For more, read http://www.fm.co.za/Article.aspx?id=154713 .


But there are good tidings for India and they come from none other than MIT. At a conference held last week at the MIT Lab, it was broadly discussed that "despite a global economic downturn that has rippled across India, the country remains one of the worlds fastest growing economies, second only to China. India is also the planets second most populous nation, expected to overtake China by 2030. Going into a bit of history, MIT Chancellor Eric Grimson noted that the friendship between MIT and India began in 1906 when Ishwar Das Varshnei became the first Indian to graduate from MIT. In 2010, his great-great-grandsons, twins Kush and Lav, followed in his footsteps, earning PhDs in electrical engineering and computer science. Today, more than 270 students of Indian descent attend MIT; Grimson cited the institutes many India-related projects fifteen of which were featured in a Technology Showcase during the conference as a strong bridge between the Institute and India. Read more in http://web.mit.edu/newsoffice/2011/india-conference-0927.html?utm_source=feedburner&utm;_medium=email&utm;_campaign=Feed%3A+mitsloan+%28MIT+Sloan+News+Feed%29


On the happy note, one start-up making tremendous news abroad is MassChallenge, which was "born in December 2008 when the world was in a deep, deep hole. While most were talking about the next Great Depression, CEO John Harthorne Harthorne, and his co-founder Akhil Nigam, decided to quit their consultant jobs at Bain & Co. and launch MassChallenge. Both Harthorne and Nigam were long-time Boston residents, with MBAs from MIT Sloan School of Management and Harvard Business School, respectively. MassChallenge - the world's largest start-up incubator is also a non-profit one. In its second year, it incubated some 125 companies. Interesting read at http://seaportinnovationdistrict.com/2011/boston-innovation-district-superstar-innovative-masschallenge-accelerator-continues-to-roll


Surely, the MassChallenge bosses do not fall into the CEO-trap that the latest issue of Harvard business Review talks about. The article states that in the past 25 years, CEOs of many major corporations have relied on a flawed set of beliefs to lead their organisations. And these beliefs have helped spread the general impression of mistrust with the public. This set has influenced them to place way too much emphasis on maximising shareholder value and not enough on generating value for society. Today we are mired in the Great Recession, which was brought about by the near collapse of the financial system. Read more at http://blogs.hbr.org/hbsfaculty/2011/09/ceos-need-a-new-set-of-beliefs.html?referral=00563&cm;_mmc=email-_-newsletter-_-daily_alert-_-alert_date&utm;_source=newsletter_daily_alert&utm;_medium=email&utm;_campaign=alert_date


Kindle Fire expected-launch at half the price of an iPad was also much discussed. Read a bit on it is

">http://www.forbes.com/sites/stevedenning/2011/09/30/how-amazon-created-the-kindle-fire-part-11

Back home a bit of happy news on the fees bit. It's no secret that many engineering and b-schools are not very prompt when it comes to returning fees after a candidate has withdrawn application and sought admission elsewhere. But last week, according to the Indian Express, " the Chandigarh Consumer Disputes Redressal Forum-II directed Swami Vivekanand Institute of Engineering and Technology (SVIET) to refund Rs 45,980 to a student who withdrew admission, after deducting Rs 1,000 as per the guidelines issued by All India Council for Technical Education (AICTE)." The article reads on that the "President of the Forum has also directed the institute to pay Rs 10,000 to the student for the harassment caused to him, along with Rs 5,000 as cost of litigation. The complaint was filed against the institute by Nitish Arora, a resident of Sector 7 in Panchkula."


Some more interesting or rather hilarious news from home concerned that babus in the Maharashtra government who want none other than Harvard to teach them a lesson or two in management. According to an article in the Business Standard published last week, the US-based Harvard University has, in principle, agreed to partner with the Maharashtra government to provide training for its elected representatives, bureaucrats, executives and academicians on issues relating to governance and development. This will be the first time Harvard University has agreed to be part of such a venture in Maharashtra.


Sanjay Kumar, higher and technical education secretary has been quoted in the article: We kept all four proposals for consideration of Harvard University which includes training for elected representatives, propelling of a quality research programme in Mumbai University and other universities in Maharashtra, and the university's engagement in the development of a world class training institute and using its expertise in the resource mobilisation for the education sector.


And we only wished that business schools be it Harvard or any other also taught people a good deal of ethics and some table manners too, so that we could have fewer scams and better behaved politicians in the Parliament.


But wait, one cannot conclude 'weekend-reading' without glancing at the biggest financial story of the week - the two big G's in the news - Germany and Greece and how Germany stepped up to do its bit to quell the Greece crisis. See how it happened on September 29 on http://www.telegraph.co.uk/finance/financialcrisis/8798314/Debt-crisis-live.html


Odisha (until a month ago Orissa) is better known for the architectural wonder of the Sun Temple at Konark and the beaches of Puri. But a push from the state government, cheap land prices, a pool of students from the neighbouring states of Jharkhand, Bihar, West Bengal and the North East as well as investments by large corporate houses are slowly changing the eastern state's identity. After Hyderabad, it is Odisha which is steadily becoming the focal point for educational institutes to set up their campuses. PaGaLGuY has fished out a document belonging to the Orissa Industrial Infrastructure Development Corporation (IDCO) which shows a record of at least 54 educational institutes (technical and vocational) applying for land allotment in the state. According to the document, land costs vary between Rs 10 lakhs and Rs 100 lakhs (per acre) depending on the location.


Within the last two years, the state has seen institutes such as the Indian Institute of Technology (IIT), All India Institute of Medical Sciences (AIIMS) and the International Institute of Information Technology (IIIT) starting their campuses in Bhubaneshwar. Now, there are b-schools that are setting up institutes in the state as well. The government's support for this move is explained by Ratnakar Rout, Joint Secretary, Department of Technical Education, Odisha. We want to make Bhubaneshwar an educational hub, he said. The government wants institutes of international repute to start up so that students from the entire eastern belt can come here for education. Rout added that many industrial houses, investors and institutes (including foreign universities) are also interested to start operating from Odisha.


Who's joining the party


Ten kilometres from the bustling city of Bhubaneshwar is the 16-acre campus of the International Management Institute (IMI). The road leading there is bumpy and pot-holed. Opposite IMI one can spot the signboard of the Birla Institute of Management and Technology (BIMTECH) that is still under construction on its alloted 30 acres. Both are known for their better known counterparts at Delhi and Noida. But from this year's academic session, IMI has already started its operations in Bhubaneshwar with just 15 students. Sri Sri University's (SSU) sprawling 185 acre campus is on the bank of the Kathjodi river, also 24 kilometres from Bhubaneshwar. SSU plans to start its business management course by 2012. The Great Lakes Institute of Management, Chennai, is in the process of acquiring land in Odisha, for starting its campus from 2013. The state government has already granted university status to Centurion University and ICFAI University. Why are institutes of management suddenly moving eastward? What is the reason for their choosing Odisha over other states?


Dr Somayajulu Garimella, director of IMI Bhubaneshwar, says that it is primarily the Odisha government's proactive stance towards investment in the state that is paving the way for this migration. The government is acting like a catalyst and there is fantastic support from them in terms of clearances, said Garimella. The state is also demonstrating a spurt in its economic growth. The industrial growth due to private companies like the Vedanta group, Jindal group, Indal Aluminium, Pohang Iron and Steel Company (POSCO) and Tata Engineering and Locomotive Company (TELCO) and the advent of IT companies like Infosys, Tata Consultancy Services (TCS) and Wipro have put the state on the fast track to economic development. According to Dr Harivansh Chaturvedi, director BIMTECH, the saturation of b-schools in other states, low living costs and burgeoning middle class population of urban Odisha are some other reasons for b-schools to choose to come to the state.





IMI Bhubaneshwar's campus with traditional Odiya motif on its walls


Land allotment


The Odisha government has been cooperative in terms of allotting land at cheaper prices, say educational administrators. The government is friendly and we were alloted 30 acres of land at the cost of Rs 8 lakhs per acre, said Chaturvedi. This was in stark contrast to the price of land in neighbouring states such as Uttar Pradesh and Haryana, where, according to Chaturvedi, land prices can go upto Rs 2 crores for an acre. We should not invest too much on physical infrastructure like land, as it is expensive, added Chaturvedi.


All good intentions aside, do hasty approvals also lead to decisions that the Odisha government might regret later? UK-based Vedanta group has already been a controversial name in the state. When the group purchased 6,300 acres of land from the Odisha government for setting up a university with Rs 15-crore, two public litigation lawsuits were filed against it in the Odisha high court.


One petitioner argued that the land itself was disputed as it had originally been earmarked for a temple. The other petitioner had an objection against the environmental harm the enormous university would cause to the eco-system of its surroundings. The Odisha High Court ruled in favour of the petitioners and the land was declared as illegally purchased. Chief Minister Naveen Patnaik faced much criticism for his hasty approval of the land. Vedanta group's non-profit avatar, the Anil Agarwal Foundation and the Odisha government had approached the Supreme court challenging the high court order. In January this year, the Supreme Court ordered the state government to maintain a status quo on the acquisition of 6,300 acres by Vedanta.





Existing players


Bhubaneshwar's oldest b-school, the Regional College of Management, was established in 1982. Xavier Institute of Management, Bhubaneshwar (XIMB) began in 1987. Fr PD Thomas, dean of administration, XIMB, comments on the number of newer b-schools in the city. As new b-schools come into the picture, there is bound to be some healthy competition in terms of academics, faculty and infrastructure and it will also give students more opportunities, he said.


But Fr Thomas is also skeptical that the rising interest might not be sustainable in many ways. Are there enough native students who would be willing to stay within the state instead of going to other parts of India for education?, he asks. Last year many engineering and management colleges were not able to fill up the required number of seats, he adds. Many new institutes don't even have a proven track record, so the students will be skeptical of their academic credentials. Besides, in terms of placements, although there are enough companies in the East, they will choose to come to the more established b-schools, he added.


Harivansh Chaturvedi has answers for some of these doubts. Our target is not just the local students, but the aim is to tap the pan-India market, he said. Also, in terms of competition we are looking at the future and within five years there is a possibility that the government might allow foreign universities to set foot in this part of the country. BIMTECH and IMI are also not very worried about the initial years in terms of placements as their Delhi campuses will mentor the ones in Bhubaneshwar until they can stand on their own feet.




The Sri Sri University under construction


Sri Sri University, which does not enjoy the reputation that IMI or BIMTECH have as far as business education is concerned, has other ways of getting their graduates jobs. The 'Art of Living' community boasts of one of the largest corporate following, informed Malaya Malla, marketing manager of the university. The university has received strong commitments from corporates for offering summer projects and final placements. But with so many b-schools in the same vicinity, the demand and supply equation of managers is questionably tilted against demand. Ratnakar Rout is confident that no matter what happens, the students and the state will benefit. It's a struggle for existence and when there is competition, quality will thrive, he said.


In spite of all the conversation around a developing state, is it that this development is centered only around Odisha's cities? Fr PD Thomas is concerned. It's only the eastern part of the state that is being developed, he informs. What about the under-developed north-western or southern parts of Odisha?


Subject to a favourable legislation allowing foreign investment in higher education, the top-ranked Darden School of Business, University of Virginia may set up a campus in India.


"India lies in a sweet spot in any international investment decisions we make. I would love to open a school in India," Darden dean Robert F Bruner told PaGaLGuY during an interview here last week.


"But first I want to see how the legislation shapes up. I am very concerned about the cash investment required," he added. The draft "Foreign Educational Institutions --- Regulation of Entry and Operations (Maintenance of Quality and Prevention of Commercialization) Bill 2010" requires foreign educational institutions to deposit a corpus fund of more than Rs 50 crore to set up a campus in India.


He joins a growing list of American schools that have in the last couple of years been sending signals about a possible India campus post- liberalization of the country's higher education sector.


Mr Bruner however also pointed out the drawbacks of having a fixed campus in emerging countries using an anecdote.


"Last year, our fulltime two-year MBA students were scheduled to spend time in Cairo as part of their 'Global Business Experiences' module. But just as we started out, the Jasmine Revolution broke out and crowds started gathering on Cairo's Tahrir Square. Even as the situation grew more unstable, we quickly shifted the venue of the module to Dubai and Barcelona. By not having physical campuses in these places we were able to be nimble and quickly respond to changing conditions," he narrated.


Mr Bruner argued that instead of having fixed campuses in international locations, MBA programs could be designed such that the two-year experience is spread across flexibly chosen multiple locations in the world.


Programs such as Duke-Fuqua's Global Executive Program or Darden's Global MBA for Executives are delivered at multiple international locations with an aim to teach business across cultures and economies.


"This allows us to be flexible because we can take the class to places that are of greatest at that point of time. For example, in India we may spend more time in Hyderabad or Bangalore than Chennai in one year. Or in China, we might decide to go to Dalian instead of Shanghai," he explains.


Perhaps because of the instability in emerging economies, he observed, ambitious international schools were establishing themselves at "very very safe places" such as London or Singapore and building permanent facilities there. "Very few of them are making the same kind of investments in rapidly developing economies," he said.


But Bruner sees India as an attractive place for opening a campus because of the cultural similarities between the US and India. "Both countries have similar private and public values, free speech and democracy. I think that Americans would understand India faster than those from other nationalities. India has seen a dynamic growth in its economy, making it a magnet for people around the world," he said explaining why he thought that India lay at a sweet spot for educational investment in emerging economies.


According to Bruner, Darden School of Business, which runs a two-year MBA at its campus at Charlottesville, Virginia gets approximately 7 to 8% Indians in its annual applicant pool. The number of Indians in its MBA program though has declined from 41 in 2007 to 24 in 2011, with an all-time-lof of 19 students in the post-recession batch admitted in 2009.


Cerebration - the flagship event of the National University of Singapore, (NUS) Business School, is a global business plan competition where student teams from top business schools compete to provide solutions to real-life business cases, provided by corporate sponsors. This entirely student-run event, spanning 4 rounds of competition, will culminate with the final on Saturday, October 15th 2011 at the University Cultural Centre (UCC), Kent Ridge Campus.


Presently in its 7th edition, the competition has evolved from being one for primarily Singaporean companies to its current avatar of putting forth business issues with a global perspective from multi-national industry heavyweights. Carrying the legacy forward, the event, which has a total prize money of S$20,000 has drawn unprecedented participation, with 575 registered teams from more than 100 schools from around the world, forming the initial pool of entries. In Round 1 of the competition, 42 teams were selected from the initial pool. Their detailed business plans are being evaluated to pick the 6 semi-finalists 2 representative teams for each of the 3 sponsored cases. These 6 teams will be flown down to Singapore for an all-expenses-paid trip, where they will present their business plans and also get a chance to meet with representatives from their corporate case sponsors.


From these 6 semi-finalists, 3 would be chosen as finalists, who will then be given 24 hours to modify their plan to include a solution for a twister provided to them by the case sponsors themselves. These 3 teams will then present on an epic final day to an elite panel of judges consisting of the Deanery of the NUS Business School, executives from corporate partners as well as leading industry professionals.



Seriously puys, go get the paper!


Graphic: Deepak Gopalakrishnan



(Photo credit: David Shankbone)


Ever wondered how much rebellion costs? Apart from possibly losing your job and your house to be a part of it, it takes money to keep the revolution alive. This Bloomberg feature shows the other side of the revolution that is gaining momentum at Wall Street, America. Called "Occupy Wall Street: The Price of Protest", the feature reveals how the protesters are living in blue tarpaulin tents and how they are taking care of the finances. Take the example of Pete Dutro, owner of a tattoo shop who is one of those managing the finances. He says, "It is like having an office job in a mosh-pit, it's insane, but it's getting done." So far the donations for the protest amount to something between $150,000-200,000. Around $5,000-6,000 are collected daily from the donation bucket placed at Zuccotti Park on Wall Street. For media efforts and publishing the 'Occupy Wall Street Journal', the protestors have been donated an amount of $75,695. This article makes a case in favour of protests against corporate greed.


Steve Jobs' long-awaited official biography by Walter Isaacson is finally going to be available starting October 24. This review by the New York Times reveals from excerpts that Mr Jobs denied surgery for the first nine months after he was diagnosed with pancreatic cancer in October 2003. His family and friends were furious about his decision to resort to exotic diets to cure his cancer, but Jobs found surgery too invasive. Later, when he did decide to go for medical science, he studied the details of each procedure that was to be done on him. The book also concentrates on his professional rivalry with Google over the development of the Android software for smartphones which would compete with the iPhone.


Jobs' innovations like the iPod, iPad and iPhone have set the benchmark for the future of consumer electronics. But how do they compare to the innovations of the early 1900s, such as the radio, television, washing machine and refrigerator? In an article in the Atlantic, Derek Thompson compares data from two graphs showing the rate of penetration of TV, radio, Internet, mobile and mobile internet and suggests that this perhaps is the age of a "recession of innovation". He quotes from a David Leonhardt blog,


"Yes innovations like the iPad and Twitter have altered daily life. And yes, companies have figured out how to produce just as many goods and services with fewer workers. But the country has not developed any major new industries that employ large and growing number of workers."


A Mint article says that after Bangalore's rallying growth as the hub of information technology, it is now Delhi's turn to wear the startup crown. The piece quotes a survey done by the startup-tracker website 'yourstory.in', which reveals that while Delhi now has 220 tech-startups, Bangalore has just 159. Mumbai and Delhi have more access to funding than Bangalore, it continues. On the flipside however, Pluggd.in's Ashish Sinha says, In New Delhi, its all about dhandha (business). Entrepreneurs are not doing long term products. The focus is on making money, he said. In contrast, entrepreneurs in Bangalore dont stress on monetization.


A Financial Times report shows that Cornell University's Johnson Business School has become more proactive about enrolling women students. The school used to get a good 35-40% of female students a few years ago, according to report and that number has now dipped to 31%. The school is eager to get back to its previous percentage of enrollment of women students.


There is an ol' world charm to Bharathidasan Institute of Management (BIM), Trichy's campus. A huge playground on one side and little hostel buildings with quaint balconies on the other. At one corner is the mess, which is nestled among trees and partly open air so it gives the feeling of dining in the outdoors.


But what is more fascinating about the mess is that it is entirely run by the students. Only short of trudging back to school with sacks of onions and potatoes, the students manage every bit of the mess work be it going into the market and selecting vendors and supplies to signing off procurement bills every single day and paying salaries of the employees. And employees are many, be it the cooks, the supervisor, the people who clean the dishes to those who clean up the table and the lady who cleans up the place.


No wonder that even the director and the faculty of the institute actually pay the students to eat there. The practice of running the mess in this fashion was first put into force in 1984 by the erstwhile batch of students. Krishnan Jeesha (who looks after the public relations, health, hygiene and grievances with regards to the mess) told PaGaLGuY that the motive was the same 27 years ago as it is now. There is so much to learn from running a canteen down to the details. Our management lessons start here.


It's a daily job


The mess is run by a committee of 17 students called the MESSCOMM. Of these, 8 are from the second year (MESSCOMM 27)and the remaining from the first (MESSCOMM 2. For all, work in the MESSCOMM committee is a daily affair. Jagannathan R who looks after the accounts said that the system was run like a small business venture. We go to the market periodically to check on vendors and compare prices with other vendors. We also invite quotes from vendors who are interested. And once we are satisfied with the price and quality of the vendors, the MESSCOM gets into an agreement with the them to supply groceries to our college. And they bring it to college every day.


Priyadarshini K who looks after the vegetables and groceries procurement said that one MESSCOMM member religiously signs off the procurement slips every day. This is after minutely checking the quantity and quality, she added. While the gorceries are procured on a daily basis as per the requirement, durables like rice, dal are purchased in bulk. There are many vendors the students keep in touch with and they are selected and rejected regularly depending on their pricing and quality.




What to cook?


Ramkumar R, who looks after the human resources of the MESSCOMM says that the menu was changed every trimester after getting the opinions and suggestions from all the students using Google Docs. We consolidate the opinions, finalise the menu and give it to the mess supervisor and communicate it to the mess employees. Also in next two weeks we analyse which dishes are moving and which are not well received. Based on this, we streamline and tweak the menu again to keep everyone happy, explains Ramkumar.



The financials?


Since the entire mess is fully student run, the cost of employee wages, groceries and snacks is divided among the students equally. But for special items like chicken, mutton, vegan specials (Gobi 65, Paneer masala) the students are charged extra. According to Saikat M who handles snacks for MESSCOMM, the estimate of specials required is taken the day before by asking the students to fill in a sheet. We then get an idea of the raw material to buy for next day. So contribution of each student again varies from month to month based on the market prices.


On an average a student contributes Rs 2,500-3,000 per month while the management on the whole contributes Rs 20,000 per month. The director and faculty have to buy coupons, individually worth Rs 17 to eat at the mess. One coupon is equal to one meal.



Lessons in management


Students who are part of the MESSCOMM say that running the canteen is a lesson in management. "It would be unfair on my part if we were to quantify the learning from this exercise, which is never exhausted until you graduate from the institute and even after that it stays with you. Still, managing the mess on a day-to-day basis for two years is a learning far greater than what any summer internship can teach you in a couple or more months," says Krishnan.


James Jacob who handles the non-vegetarian procurement says that the learning is not restricted to just one aspect of management, "We get to learn all aspects of management as we study be it human resources, operations, finance or even marketing. We have learnt the art of negotiation, performance management, event co-ordination, supply chain management, outsourcing, grievance handling, inventory management, brand building and loads more first hand in practice while the rest of the students would have only bookish knowledge of these things."


The students work to precision the most when it comes to supplies and demands but sometimes errors do creep in. Explains SreeRajeshwari, who looks after the vegetables and groceries in the mess, "Errors usually never happen since we procure the raw materials on a day-to-day basis and the years of experience which has been passed down from one MESSCOM to another helps us to almost accurately predict the requirements. But at times there has been shortage for days when we interrupt common eats such as Maggi, egg masala whose demand keeps fluctuating. But for us the more pertinent problem is waste management, as in some days there seem to be a lot of wastage and some students are also indiscriminate in wasting food."


There are other issues as well. Especially, with the north-south diversity prevalent in the batch, differences in food tastes crop up. Adds Ramumar, "While the south Indians want more Pongal, the north Indians want more chapati and dal. We strive to strike a balance between all groups of students and staff. We provide dal every day as an backup for north Indians to any other dish they might not like."


The committee also has a complaint redressal process in place where any complaint is attended to within 24 hrs.



What else is part of learning?


The MESSCOMM has assigned health and hygiene to one of its members, who has to make sure that everything from plates to spoons is clean. "We enforce that the workers use gloves and head gears while serving and cooking. We check that the storage place is clean. The mess premises must be cleaned after every meal. We check that the oil is not reused. We make sure the amount of oil used is not unhealthy. Even while deciding the menu, health considerations are kept in mind," informs James.


Sree Rajeshwari adds that those in charge face fresh challenges everyday. "So many issues to look into, be it HR, or students unsatisfied or supply issues you have to face it and solve it yourself, its like a real-time application of whatever we learn in class then and there."


Students add that mess work also keeps them busy all the time so they have less time for leisure, be it playing games or watching movies but none are complaining because of what it gives them in return. In fact, they are not even awarded extra marks in class for being in the mess committee, but it does not matter. "When we are asked application-based questions we are better placed to relate to some of them and give more relevant and practical answers which might translate to better marks," answers Saikat.






So, aren't the women better than the men in the kitchen?


There are two women each in MESSCOM 27 and MESSCOM 28. "It is a common notion that women can manage the kitchen better but in our tenure here we have seen men who are capable and maybe at times even better than some of the women. Although maybe when it comes to the particular matter of cooking in specific, women still hold the upper hand over most of the guys, but even here some guys in MESSCOM can give them a run for their money," quips Jagannathan.



Any innovations?


Krishnan said that they started an initiative in which cup noodles were procured at wholesale rates and supplied to students at the same rate at anytime of the day or night. "It has been received well especially during exam time when people skip dinners --- we are called saviours for providing them the noodles at just Rs 17 when the market rates is Rs 20."


There is also a 'Mess Topper of the month' title for a student who draws the biggest bill. Since some non-vegetarian items and sweet dishes such as ice-cream cost extra, the student who draws the highest bill every month is treated to a grand price of one cold drink, one non-vegetarian extra and one cup noodles. "We encourage our top customers," says Jaganathan who adds that the catchline for the mess topper is, "For people who couldnt top in class we give you another opportunity.


Harvard Business School's case-method pedagogy has been one of inspiration and learning to many b-schools across the world. In Indian b-schools however, this mode of teaching is yet to gain ground as the 'only one.' Yes, there are combination teaching methods in some of the older Indian Institutes of Management and others - with a big chunk devoted to the case-studies methodology.


As yet, the ICFAI Business School (IBS), Hyderabad seems to be the only Indian b-school to be running on a 100% case-method teaching system for two years now. IBS' website states that the institute has a stock of 4,000 research cases, a thousand structured assignments and more than 1,200 teaching notes - PaGaLguY decided to check out whether it's really as hunky dory as made out to be. We spoke to IBS Hyderabad's Dean of Academics Prof Hilda Amalraj.


What were the reasons behind opting for a 100% case-study method at IBS Hyderabad?


Business school programmes are primarily professional training, wherein the focus of education is on application of concepts, principles and theories to real life contexts that future managers are likely to face. Cases provide the context for decision-making. In case-based learning students get to pre-assess and examine the context in which the concepts mapped for the session emerge. From the perspective of learning for application, participant-centric learning, especially the case-based method is superior to the regular lecture-based teaching. In the past, we used a mix of case-sessions and lecture-sessions, but since 2009-10 we have adopted a system which is, in entirety, case-based learning.


Cases work at HBS, because the student body has work experience and could relate to the real world scenarios in cases leading to meaningful discussions. But how can 100% case-method be effective in schools like IBS where there are also freshers, who lack either theoretical or practical knowledge of business?


No student, even in HBS, will have experience in all kinds of case situations. In other words, most case scenarios may be new or eye-opening even for someone with a few years of experience in one or two sectors. The ones with some work experience will relate to the scenario with reference to what they have seen or experienced, which could be good in many cases, but constraining in some others. A fresh student carries no such baggage. On the other hand, especially for someone who has had no real-world work experience, case pedagogy provides an excellent introduction to managerial decision-making. The more cases they do during their programme, the better it would be.


It is also important to remember that students dont prepare for case discussion in isolation. They read cases alongside their textbooks and additional prescribed readings - each case is mapped to readings which explains theories and concepts. Case discussions in classroom settings, facilitated by faculty members trained in the method, discuss theories, concepts and its application in the said case.


Were there any aspects of learning lost after lectures were completely done away with and why is IBS okay with it?


In terms of learning, we think, and the studies we have done with the last batch have confirmed that there are only gains and not losses. In professional education, the desired outcome should be more of application-based learning. We think that students learning managerial theory as well as practice, and being better equipped for managerial decision-making, are more important objectives for management students.


Where are the cases coming from? What percentage is developed in-house and from external sources such as HBS?


Most cases used in the first two semesters are developed by IBS faculty members and by IBS Case Development Center. All cases used in the third and fourth semesters are published by HBS. It is important to note that cases written by our faculty members are used globally and have won international prizes.


Typically, how many in-house cases are based on actual research conducted with the subject company and how many on commonly available information (such as the case studies on Apple's products)?


There are several types of cases. Some are based on secondary information, while some others are based on primary data collection. Even secondary cases could be of different kind, some involving multiple companies, some involving economy and public policy issues and so on. All of them have their relevance. For some purpose, cases based on secondary data are more useful. On the other hand, especially in cases involving single firms or individual decision-making, primary data could be important. Either way, whether data is primary or secondary, all cases are the result of research. Some cases could be the result of more in-depth research than some others, but all research is actual research.


Developing and maintaining the cases are a costly affair. How has it impacted the cost of doing an MBA at ICFAI?


Indeed, it is a costly affair! But, our cases are used not only in IBS, but also in several universities and business schools across the world. Our Case Development Center has around hundred international universities and business schools as its customers, including Harvard and Cambridge. Therefore, while it is certainly an expensive affair, cases earn revenue too for the Case Development Center. On the other hand, our sourcing cases from external sources do result in significant outflows but that is a small price to pay for giving our students world-class learning facilities in our campus. Overall, there is some impact on the cost of our operations, but that has not altered the costs for students doing an MBA at IBS.


ICMR has been generating a high volume of cases. What is the team size working on developing these cases and what are their qualifications? Considering that India is not known for research-quality academic talent, how is ICMR ensuring rigour in these case studies?


A team of qualified and experienced professionals at various levels are involved in developing cases. Besides a good number of faculty members also are involved in the process. ICMR has evolved its own best practices to ensure that the cases developed meet quality standards. As they say, the proof of the pudding is in the eating. Just this year, so far, over half a dozen cases written by IBS faculty members and staff of Case Development Center have won international prizes or awards for outstanding cases. And as I said earlier, our cases are today used world over. So, we believe, India can indeed develop research-quality academic talent.


The case-method has been widely criticized by influential thinkers such as Henry Mintzberg who argue that cases tend to look at business problems from the CEO's point of view and leaves students completely unprepared for the initial years of their jobs. How would you react to this criticism?


Not all cases look at business problems from the CEOs point of view. For that matter, not all cases are decision cases even. Of course, most HBS cases are decision cases and the students do have to put themselves in the shoes of the protagonist to make sense of them. But, are all protagonists in these cases, owners or CEOs or Directors? Certainly not! In some cases, the key decision-maker is the CEO or the partner or a Director or a CFO, but in many others, the protagonists could be sales managers and HR managers and accountants and so on. Case method, essentially equips students for managerial decision-making. And, decision-making doesnt happen only at the CEO level. Of course, students stepping out of some business schools in India are often placed in non-managerial positions in the initial years. That is not our point of reference. We would want our management students to be fully equipped to be effective managers when they step out than condition them for jobs, which students could have anyway got right after their bachelors degree.


Can you compare both the case-study and the lecture-based styles on various parameters?


Acceptance by students: There is always some resistance to change. But once the students were convinced that they stood to gain from it, they were more than welcoming it. The fact that this method has been tried and tested in some of the best management institutions in the world, also helps the students accept it easily.


Involvement of students in class work: Case-based learning works only when students come prepared with the case and concepts to class. Class participation requires prior preparation, and it is working primarily because the students have accepted the learner-centred approach to education. They understand that their investment of time and money in the course is fruitful when they involve better. Their performance in class room is dependent on their effort and that connection is now far more obvious than in the previous system. Another big motivation for students to prepare better and perform well in the class is the grades that they earn for Class participation which carries a 30-40% weightage in the overall performance in the course.


Faculty involvement: The amount of preparation required by the faculty members has risen significantly. The faculty member has to be prepared well with not only the concepts but also the facts of the case, and she has to drive the discussion of the case in such a way that the concepts mapped for the session get covered through the discussion. And, this has to be done within the specified time slot. To manage a discussion with appropriate time, class-room and black-board management is indeed a difficult job, which requires meticulous planning and preparation.


If the system works really as well as you make it sound, why are more b-schools not going for 100% case-based learning?


It probably has to do with the resource requirement. First of all, the faculty member has to be meticulously trained for the approach. People with research and industry experience can handle cases far better than others. But, such faculty resources are costly. We have the advantage of having our own faculty development center for training. Sourcing cases would be a big challenge. Very few business schools have an in-house case development center that produces quality and internationally-accepted cases. To procure cases from Harvard or other Ivy League schools can be very costly. In our case, we meet the demand for cases from our own centre as well as from HBS. Since the concepts have to be driven through the case discussion it requires extensive effort to map cases for a course curriculum and concepts therof.


Infrastucture in terms of lecture theatres to facilitate a case discussion class and discussion rooms for case preparation by student groups are essential to make the case method effective. This may be a big shortcoming in some schools. Residential campuses are better suited for this approach than day schools. The logistics of obtaining cases from a repository and making it available to students is very cumbersome and requires meticulous planning.


Have you checked student-performance and involvement after switching to the case-study method?


When the first batch of students who had gone through the 100% case-based learning graduated in 2011, IBS did a study to evaluate the performance of the students through surveys and focus-group discussions, involving all the stakeholders. While we did identify some issues to be addressed, the conclusion of the study was that case-based learning approach should be strengthened and not weakened. .


But you need to update the cases to have the necessary impact?


Certainly, yes. The Case Development Centre publishes hundreds of cases every year. Cases produced by us are used in some of the best management institutions in the world. We regularly revise our cases and change the case mapping too to better suit the changes in the real world. Every year the curriculum is reviewed and about 30% of the cases are changed.



(Photo credit: Great Lakes by Shiva Jeevanantham)



After championing the cause of the one-year MBA for seven years, the Great Lakes Institute of Management, Chennai has introduced a traditional two-year MBA programme with its first batch slated to begin in 2012. It is a difficult to digest idea, considering that Great Lakes had even gone to the lengths of getting a certificate-programme approval stamp from the All India Council for Technical Education (AICTE) for its one-year program. Great Lakes' Executive Director Dr S Sriram explains to PaGaLGuY why the institute decided to join the flock.



After standing a niche-position for so many years, why join the flock now?


From the feedback we have received over time, we have realised that in India there are students who prefer the two-year MBA to the one-year one. From the two-lakh odd people who take the CAT every year, at least 175,000 are those who want to continue studying instead of working and prefer the two-year MBA. Those who would like to work and then study an MBA are fewer. All these factors pushed us to think of a two-year MBA. Besides, we have studied research done by others on this issue and realised that there are no worthwhile MBA programmes today that cater to the needs of emerging economies. For one, there is Prof Pankaj Ghemawat's book which talks about how globalisation of business is overhyped and how business education needs to be contextualised. Also Dr Srikant Datar of HBS has pointed out some of the serious shortcomings of conventional MBA education in his recent book. All this has been the basis of our thinking that we need to have an MBA programme which is suited to how an emerging economy works.


Most MBA programmes are based completely on the economic models of advanced and industrialised countries. The needs of emerging economies are however unique. The two-year model will also work because it will make way for foreign internships, spending a term abroad, etc. The Great Lakes tradition of delivering the MBA differently will always be there. We do not see this as joining the flock at all because the value proposition is unique.


Does the new two-year course have the AICTE approval? What is the planned intake?


Yes, the two-year program has AICTE approval. There will be 120 seats.


Who is the two-year programme's target audience?


Anyone with a undergraduate degree is eligible, prior work experience is not necessary.


How will you market both your programmes differently? Which programme would be the best for someone with 2-3 years of work experience?


People with 3+ years experience will be encouraged to look at the one year program. However, we will not refuse admission to a person with such experience to the two-year programme as long as he or she can convince us about the reason why they want to do a two-year program. Both programmes have their own logical basis and relevant segments. One will not be at the cost of the other.


What infrastructural arrangements are being made to accomodate the two-year batch? Will students of the one-year and two-year courses have any common classes?


New classrooms and hostels amounting to a total of one lakh sq ft area are being built and will be ready by June 2012. Wherever the two formats provide for common classes, we shall certainly leverage it. However, the scope for this is likely to be limited.


What about the fees and ROI?


The fees will be in line with most of the premium two-year programmes in the country. As for RoI, we expect the students to be placed similar to those in top 10 business schools of the country. So the RoI and the value proposition for the students will be similar.


Your students will compete with every other institute (having a two-year PGDM) for internships and placements. How will you do it differently?


With focus on the emerging economy and other unique value adds in terms of a semester abroad, foreign internships, and tie-ups with top schools from Brazil, South Africa and China, we believe that we will have a compelling proposition and hence are not worried on these counts.


What progress has been made on Great Lakes' plans to start a university in Odisha and rename Mumbai Business School after its acquisition by you?


The Odisha university process is on. The state government has already committed about 75 acres of land. The academic sessions may start in the 2013-14 time frame. Mumbai Business school is an independent entity and will continue to be so for the time being.


Any more plans to diversify and expand in India or abroad?


We are already in Chennai and the Delhi region. Odisha is next. Mumbai could be a reality in a two-year time horizon. Going abroad would be in a 3 to 5 year time horizon.





A new scholarship for MBA students from India is now available at the University of Chicago Booth School of Business as a result of a $1 million gift from the Tobaccowala Foundation of India, the school has announced. Students who receive the scholarship will be designated Akhtarali H. Tobaccowala Fellows, in memory of the 1952 graduate of Chicago Booth who was a director of Tata Group, chairman of Voltas Ltd., a unit of Tata, and founder of Impact India.


The scholarships are available to students in Booths full-time MBA programme whose primary home is in India at the time the scholarship is received. Prospective students can apply at www.chicagobooth.edu. During the 2011-12 school year, 83 students from India are enrolled in Booths full-time MBA programme, according to the school. Since 2001, 527 students from India have attended the programme. India sends the most students to Chicago Booth of any country other than the US, said Kumar, who also is the George Pratt Shultz Professor of Operations Management.


My sister Moeena Iyer and I are delighted to make this gift in memory of our father so more students from India can learn from the world class Chicago Booth faculty, said Rishad Tobaccowala, who received his MBA from Booth in 1982. Our father believed strongly in the power of education and we feel the same way, said Tobaccowala, chief innovation and strategy officer for VivaKi, the digital media unit of Publicis Groupe. Scholarship support is important in our efforts to continue attracting the best and brightest students, said Sunil Kumar, Booth dean. For that reason, we have as one of our goals to increase such support for students. We are very grateful to the Tobaccowala Foundation for its generous gift.








(Photo credit: IA Walsh)



Chicago-Booth Graduate School of Business retained the top rank in Bloomberg Businessweek's 2011 MBA Rankings, followed by Harvard Business School and The Wharton School, University of Pennsylvania.


Along with UC Berkeley - Haas, Duke - Fuqua and Stanford, Wharton is one fo the four schools in the top 10 that have risen up the rankings. On the other hand, Kellogg, Michigan-Ross and MIT Sloan have dropped ranks.



A Fortune article reminds that although MBA tuition fees have been soaring in the US, the average salaries coming to graduates have not kept up commensurately. It reads,


"The highest total cost comes from Stanford Graduate School of Business, where students typically leave jobs that already pay them more than $88,000 a year. If you tack two years of forgone earnings to the school's recommended student budget, the total cost of getting an MBA is now a whopping $351,662.


Stanford is hardly alone. There are eight U.S. business schools where the cost of earning an MBA now exceeds $300,000. They include Harvard ($348,800), Wharton ($326,400), Columbia ($322,590), Dartmouth ($316,200), Chicago ($315,60, MIT ($313,264), and Northwestern ($310,37."


And how are the returns?


"How have these numbers changed over the years? Some 10 years ago, an MBA student at Kellogg left a job that paid $65,000 a year versus today's average of $73,960. Back then, the two-year recommended budget for the degree came to $105,066, compared to $162,458 today. The total bill for a Kellogg MBA was $235,066 10 years ago. Today, it's $310,378.


And the reward? Kellogg MBAs graduating in 2001 pulled down median starting salaries of $90,000 and median starting bonuses of $25,000 each. MBAs in Kellogg's class of 2011 reported median salaries of $110,000 and signing bonuses of $20,000 each. So over the past 10 years, the total cost of getting a Kellogg MBA has risen by 32%, while the starting salary and bonus has increased by 13%."


Of course, the article does not delve into the long term and intangible benefits of career development after 10-15 years after graduation and the strong network that an Ivy-League MBA degree could provide.



It is common for older and married MBA participants to join an MBA program. While a lot is written about a b-school's preparedness to host such students, what is the view from the side of the spouses of MBA students? An article in Financial Times offers the view from the side of MBA spouses. The author, the wife of a Michigan-Ross student writes,


We found much to like in Ann Arbor, but other adjustments were more difficult. I was used to the intensity and stress of graduate school work, but I was unprepared for the business school experience. While I had been able to prepare for the next day from home, Jeremy often found himself on campus, in group study rooms late into the night. Social, recruiting and professional clubs events - again, unable to be completed from our home - also contributed to Jeremys packed schedule. As a result, I found myself doing both the cooking and the after-dinner cleanup, duties that we had typically split.



Even though b-schools are becoming more gender-inclusive by admitting more women, there are still things that women could do proactively to make the most out of MBA programs, says John Hopkins graduate Selena Rezvani in a Forbes article. For example,


Its interesting how often women will find themselves somehow serving as the secretary on team projects. Its a comfortable role for many of us to fill, but regardless of whether youve got the best cursive handwriting or filing system, just dont do it. Being the organizer/scribe takes away from your own participation and ability to generate the ideas. Plus, youll never be seen as the visionary on your team if you keep volunteering for busywork when nobody else does.


Make sure your team takes turns writing and coordinating details, and keep circulating this role after B-school (until you can hire your own Admin). Remember, as you learn about how successful companies strategically position their brands, youll need to do the same for yourself. Think through how you want to be remembered (i.e. as bottom-line oriented or an idea fountain versus nice or helpful) and execute on that every day.



Now that the CAT is over, the next step is the IIFT Entrance Test next Sunday. We wish everyone taking the test the best, hope you do well.


For the United States, Lalita Booth is the homeless to Harvard wonder. The face of hope, a much refined version of the staid rags-to-riches story only this time the riches is not in dollars but in educational degrees.


For us here, she makes sense because till a few years ago, she was a teenage-mother, living off scraps and out of a car. Today, she is pursuing a degree in Business Administration and Public Policy at the Harvard University. Besides, she is also the author of the book Financial Education for Lower-Income Audiences: A guide to Programme Design, Implementation and Evaluation which can be found in the libraries of various US colleges and b-schools.


Her story is stirring not because she is just a cliche having fought all odds and emerged supreme - but because she decided to take the more thorny route to recovery education.


In her teens, Lalita was a mother, she had no place to call home and no family to use as crutch - that's when she decided that the best way to beat lifes miseries was to educate herself. I wanted my son to be proud of me and I thought no better way than to study and get myself some real degrees. Harvard was just an illusion when I stayed on the streets and went to sleep hungry. Today I am right there, said Lalita Booth while speaking to PaGaLGuY from the US.


Lalitas story makes good sense because she is also probably one of the few who has been awarded some 20 scholarships in the last five years worth a whopping half a million US dollars.


Earlier on..


That her life was a mess, Lalita realised when young in Ashville N.C, her hometown. She had two siblings but the memories most vivid in her mind are of the family travelling, in and out of various houses. The days were not at all comfortable and Lalita took to the wild ways soon enough. On turning 16, she legally separated from her parents. I did that because I thought that would be the end of all my problems. I wanted to live my life my way there was nothing much with my parents anyway, she said.


But actually, life turned only shoddier. At 17, she got married and at 18, became a mother. And her husband divorced her soon after and left to join the army. Lalita had just no where to go her only possession was her wailing child. For a while, she just managed to live on scraps and whatever else she could manage. Some months later, Lalita fell in love with another man, and the three moved to Colorado. But life was still exacting and the three had to live on government assistance. Both of us did some low-wage jobs to keep it going but it was really tough, recalls Lalita.


One evening changed it all


And it was an episode one evening, during that phase of her life, that changed everything for Lalita. My son was two and I was scared of touching his diaper fearing it would be wet since I had no money for diapers. Then he asked for food and there was nothing at home. I made him sleep hungry. While he slept, I remained wide awake. I felt horrible that I brought into this world a son who I could not even feed. I had to get my life back for my son.


That evening changed Lalitas standpoint forever. Instead of simply crying over how cruel life was Lalita decided to do something about it. I sent my son to live with my boyfriends parents in North Carolina and within minutes of dropping him there I picked up the phone book and searched for financial planners, said Lalita.


Whoever I called, I told them that I had no money and I needed free advice on how to earn some money to be able to get my son back and get-off government assistance. One financial planner actually helped me out. Since we were still under government assistance, I managed to keep some money aside and enrolled in a course to become a tax agent. The entrance exam is supposed to be real tough but I got through, Lalita informed.


First job


Within months, she got herself a job which gave her $32,000 per annum with a private firm. Lalita got her son back but around the same time she and her boyfriend also separated. She was back to being alone with her son, only this time, she had a little bit of money and a longing to do educate herself.


I moved to Florida and enrolled in Seminole Community College since it was the cheapest college. I took a job in the grocery store in the day and went to college later. My sons education was also an emerging need then and since he is autistic I knew I had to work double hard, says Lalita.


Studying through the nights, Lalita managed a straight A grade in all the subjects and bagged the Jack Kent Cooke scholarship worth $30,000. This money helped Lalita enrol at the University of Central Florida (UCF). There too, Lalita performed extraordinarily during the four-years. Finally she graduated in 2009 and was the College of Business Administrations Top Honour Graduate with dual degrees in Finance and Accounting.


There, she was also awarded the Order of Pegasus (highest honour at UCF) and the UCFs Alumni Associations Distinguished Student Award and became UCFs first Truman Scholar.


Education is important


Days had begun to look brighter for Lalita. She had reached her mid-20s - and what the waves of education could do to a person, was staring back at her . My interest was in managing finances, having learnt the hard way and I always felt that if poor people know how to handle their money, they would be better off than where they are, Lalita told PaGaLGuY..


During college, Lalita started a non-profit organisation called Lighthouse for Dreams. The organisation which is growing in numbers even today teaches financial literacy to high schools students. Lalita says it is important that students know the clout that money holds in the world.


Life had begun to settle for Lalita who by then had an irrepressible desire to keep studying. There was no way she was going to stop Harvard seemed like a logical next step but an almost impossible one. She pursued and before she knew it, was strolling along the hallowed corridors of the graduate school in Harvard, pursuing a dual degree in Public Policy and Master of Business Administration.


So how is the Harvard experience?


The best ever. I cant tell you how good the case study method is. I can still remember lectures from a year ago as if they happened yesterday. Lecture-based teaching can be awfully boring. Case-studies bring life to everything. I look forward to lectures only because of case-studies, answers Lalita. About extra-curricular activities, Lalita says: Oh, there are plenty here but I dont take part in many. I have a son to go to at the end of the day. My class mates go abroad for internships but I dont because of my son.


Lalita is 30 today while her classmates are about 25-28. No one makes her feel old and they better not because what she has gained in the last decade by way of education and scholarships, none of her classmates have come anywhere close.


She enjoys every bit of classroom life, a privilege she missed while growing up. Today, she has almost achieved what she set as a goal 12 years ago. Her son who is 12 happily announces to everyone that his mother is at Harvard. He is truly proud of me and I feel fulfilled today,Lalita said.


Proud son


His son, Kieren, is also heard discussing his mothers accolades in school. Be it her Harry Truman Foundation Fellowship or the Deans Gold Medallion for Civil Service or better still the College of Business Founders Day Award.


Forward, Lalita wants to write some more books for the helpless and poor besides continuing work with her NGO. She has become a bit of a celebrity already with newspapers and television channels keeping an account of her every new degree.


So what is the job that Lalita is looking forward to after graduation? I hope the Department of Treasurys Office of Financial Education create a special post for me. I would like to work there. Just earning money is not the end of everything, how to spend and use it is very important, the 30 year-old warns.


Till then Lalita, who is proud to have an Indian name (given by an Indian friend of her parents) will just continue to mount up her degrees. When asked about her success, Lalita always says: In this world, you either have an excuse or a story. I preferred to have a story.

Following the previous Director's retirement, Prof Chandra P Shrimali has been appointed as the Officiating Director of Management Development Institute (MDI), Gurgaon starting December 1, 2011, informed an institute press release.


Prof Shrimali became the Director after the previous officiating director Prof VK Gupta retired, added the statement. Prof Shrimali will also head MDI's campus at Murshidabad.


"Prof CP Shrimali is a well-known professor of Human Resource and Management and has been in academics for last 36 years. He has provided management consultancy services on 40 consultancy assignments. He is a certified management consultant from CMC and has worked for United Nations Development Programme (UNDP), and Food and Agriculture Organization (FAO) in the areas of Human Resource Management and management consulting development," the release said.



Although not for a full-fledged MBA programme, here is a business school which has decided to withdraw the safety net of placements for its graduates so that they are pushed to start their own ventures.


The Masters of Arts in Social Entrepreneurship (MA in SE) course at the Tata Institute of Social Studies (TISS), Mumbai which was launched four years ago, has decided to put an end to placements starting this year. The last batch that was recruited through campus placement was the one that graduated in 2011, albeit with a process that lasted rather long.


Prof Satyajit Majumdar, who is in charge of the course at the School of Management and Labour Studies, TISS, said that the move was an effort to encourage students to come up with their own ideas. The philosophy of the programme is to come up with innovative solutions to social problems, so simply handing over jobs to students was defeating the purpose of the programme, he said.


Students of the 2011-12 batch were intimated of the change in the placement process at the time of admissions itself.


When asked why placements had been permitted in the earlier years at all if the philosophy of the course was entrepreneurship, Prof Majumdar said that the course needed to find a foothold during its fledgling stage and the participation of companies helped push the process.


Over the years, quite a few students from every batch started setting up their own startups. Many of these were making noteworthy contribution to the society. For instance, helping farmers in coastal Andhra Pradesh increase their productivity, or providing low-cost to free dental care in Haryana and also making education accessible to poor children. Since such notable ventures were anyway being created, it made sense to do away with placements totally, he justified.


In addition, internship opportunities from organisations government-based bodies such as UNICEF and NABARD, Planning Commission and Tata Steel have also been discontinued with the same justification.


Talking about the course, Prof Majumdar said that in the first semester, students are encouraged to visit rural India while in the second semester, students are asked to start their pilot ventures. The semester focusses on students working in tandem with the institute to develop these ventures while the fourth semester is the final stage where a blueprint of the pilot venture plan is finalised. The journey is an exercise in making students fund-worthy," said Prof Majumdar.


PaGaLGuY spoke to a few students from the course who did not seem to preturbed with the changes. Since they were informed in advance, they were prepared for it. However, they did say that the course structure did not do enough to instill the necessary skills for self-starting in the students. "The institute needs to invest more in terms of equipping students with sound entrepreneurial skills so that we can start on our own," said one of the students. Another student said that the course without the placements looked attractive on paper but in reality more was required.


Yet another student said that many of the student startups either had not taken off or were simply not revenue-generating. Some of the students who had established their undertakings are also doing part-time jobs as the money they are making is not adequate, the student informed.


Some students said that TISS should shoulder the responsibility of employing students if the startups fail.


Discussing some of these fears, Prof Majumdar said that to ensure practical learning, the course collaborated with other global networks to share the knowledge imparted in the classrooms. Besides, the institute is also taking a customised version of the course to corporates. The course has being well received by India Inc, and that they were keen on engaging their employees in social work.


He added, "The future of the course is very bright, and it is growing both quantitatively and qualitatively.


The Indian Institute of Management, Shillong being a strong promoter of sustainable-energy has come up with a novel idea to save its daily consumption of energy. It has placed solar panels in its campus. The solar panels which have a capacity of 50 KW are installed by IIM Shillong authorities in collaboration with the Ministry of New and Renewable Energy. These panels will supply power to the entire campus including the administrative building, classrooms, 72 hostel rooms, guest houses, mess and dining halls - a total of 215 people live on the IIM Shillong campus at any point of time.


The solar panels are placed on top of the new boys hostel in the campus. And they are geographically placed in a way that they face early sunrise and so energy can be tapped from 4:40 am to 5:30 pm in the evening. The installation of solar panels saves a lot of electricity and by not going for conventional methods of electricity-generation of fossil fuels, the entire set-up is eco-friendly and helps to maintain the serenity of the place, said Keshav Sridhar member of student PRO cell. He added that Shillong, being cold for most parts of the year does not use air-conditioners, so the electricity consumption is anyway low compared to the other b-schools." However, hot water is used in large quantities for bathing purposes because of the cold weather. Since we depend on hot water so much, this solar facility will greatly help," Keshav added.


On an average, these solar panels will save 1,50, 000 units of electricity per year. To generate that much of electricity from a coal based power plant, 1.5 tons of coal will be required which will release some 1.5 tons of CO2 per year, Keshav told PaGaLGuY. The solar panels were much talked about at the recently held International Conference on Energy Sustainability, held at IIM Shillong and the concept was also well received by the local community of Shillong, according to Keshav.


Pic of IIT Delhi by Bryn Pinzgauer



Indian Institute of Technology (IIT), Kanpur and IIT Delhi are revisiting their admission criteria for MBA from the next academic year. While IIT Kanpur is considering barring freshers, IIT Delhi is looking at revising its eligibility criteria from 10+2+4 to 10+2+3. We dig in for more details.


IIT Kanpur's department of industrial and management engineering (IME) is ruminating over the idea of revamping its management programme. It is planning to close the doors for candidates who don't have prior work experience. "The reason why such a decision is being deliberated over is because freshers lack practical knowledge and can't visualise the responsibilities that come with a managerial position," said Prof BV Phani, faculty of finance and entrepreneurship, IME. "Our objective is to provide students with the best possible management exposure/education so that they learn and understand the process. Students view the management programmes of IITs as secondary, as compared to the IIMs, and stop-gap arrangements. This has resulted in a disconnect between the students and faculty," he said on being asked why the eligibility criteria was being revised. The prerequisites that IME is looking at is two years of work experience for candidates who have worked in the sector of their specialisation, and 4-5 years of work experience for those who have worked in a sector different from their area of specialisation. The institute is also looking at making the course more engineering-centric. "We intend to make the students undertake R&D; projects in the campus, while simultaneously pursuing advanced engineering courses, so that they understand the projects well," he added.


"This will enable a student to leverage the opportunities available in the engineering domain and apply this knowledge into his management expertise," Prof Phani said. He also said that the idea behind these changes is to create a Chief Innovation Officer, who can function in the entire vertical of the organisation, and can contribute from the conceptualisation of a product to its development, and then its marketing. "We want to create innovation managers who can bring about a societal change in any given area, be it engineering, social or political," he said.


The department is also looking at reducing the number of seats and faculty expansion. Even the placement process might undergo a change. For that there will be a series of interactions with organisations, following which students can work on company projects and develop products visualised by the company while studying at IME. "We want to re-write the MBA paradigm," Prof Phani said. On being asked how long would it take to execute/implement these sweeping changes, he said the process would take at least 12-18 months. The academic review at the department level would be completed in a couple of months, after which it would be taken to the institute level, then to the Dean of Academic Affairs and finally, to the Senate for approval.


Meanwhile, Department of Management Studies (DMS), IIT Delhi is going the other way round. It is planning to do away with the current 10+2+4 eligibility criteria and instead revise it to 10+2+3 with a few prerequisites, such as a work experience of two years and Maths as a subject in Class XII and graduation. "We want to give a chance to everyone who is competent and capable, which is why alterations in the eligibility criteria are being considered," according to Professor MP Gupta, admissions co-ordinator, DMS, IIT Delhi. "Many sectors are coming into prominence such as health care, media, banking, infrastructure, real estate, finance, etc., which require a variety of professionals coming in from different backgrounds," he added. The decision to extend the admission criteria to accommodate well-deserving candidates is in its earlier stages as the entire process goes through various bodies. "Firstly, the management department makes a proposal, which is then sent to the Board of Post-Graduate studies, which in turn, examines the proposals and recommends it to the Senate, which takes the final call," Prof Gupta explained. The decision to expand the eligibility criteria might come into effect by 2013, he said.


There are plans to restructure the course as well. As of now, it is a three-tier curriculum; the core course which is mandatory and entails subjects like the fundamentals of management, principles of management, etc.; the electives, which is optional and in the chosen functional area such as information technology (IT), marketing, human resources, etc.; the third is the focus of the programme, which is again mandatory and offers MBA in telecom management, MBA in technology management and MBA in management system (general management). "In its revamped version, contemporary management practices will be merged with the subjects under the core courses. Plus, there will be an increase in the number of focus areas such as health care management, media management, real estate management, public sector management, etc.," Prof Gupta said.



SNAP 2011 was a very sensible paper and brought a welcome change. Though the test was a mixture of easy, moderate and tough sections, it was slightly different from expectations and general perceptions. This would have surprised a lot of aspirants. Let us try to evaluate each section on its merit and estimate the probable scores.


Section: General Awareness: 40 questions 1 mark each


The biggest surprise of all was General Awareness section. Scoring was not easy from this section as most of the aspirants would have perceived. Most of the test takers start with this section as it is considered to be black & white. But the smart test takers would have realised that it isnt wise to continue in this section, atleast in the initial round of attempts. The questions ranged from International affairs to politics to economics to constitution and even to Bollywood. Proportion of questions on Business and corporate whos who was relatively smaller. This would have compelled an aspirant to reduce attempts drastically. There were a lot of questions based on recent developments in socio-economic affairs of India and the countries around. So an avid follower of news would have managed to attempt more than 16 questions. Others will have to be happy at 12+ attempts out of 40. A tough section and hence overall 12 14attempts can be considered as good,provided one manages to get them in 15 to 18 minutes. Good score for this section can be 7+.


Section: Analytical and Logical Reasoning: 30 questions 2 mark each


This section was versatile and very much SNAP style. A good blend of language and logic kept the aspirants alert and active throughout this section. It had sufficient meat to score marks e.g. Questions on Cube colouring (tricky but simple to calculate), Blood relations, Algorithm (X, Y) Arrangement (7 students) and Direction sense were easy. Questions on Critical reasoning, being not very lengthy, would have attracted most of the aspirants, but at the same time it wouldnt have given them the benefit they sought in terms of saving time. Due to this,the overall attempts from this section may reduce as compared to what they were last year (There was only one CR question last year).The question on analogy was a pleasant surprise. Overall the section was moderate hence 24 25 can be considered as good attempts. Good score for this section should be 38+. Ideal time however would be more than last year i.e it should have been close to 42 - 43 minutes.


Section : Quantitative Aptitude, Data Interpretation & Data Sufficiency: 40 questions 1 mark each


Finally a breather for all, this section was really a stress buster. It would have been a wise decision to start with this section. I am sure lot of aspirants would have realised it after scanning the paper or atleast after looking at General Awareness section. A good proportion of questions were based on standard concepts of Time & Work and Time, Speed & Distance. Most of the questions were easy and could have been solved in less than a minute on an average. The only set back of this section was typing errors (I hope the authorities would take appropriate action on the same). But ignoring such typographical errorsis always advisable during any test as it would have helped in maintaining energy and motivation throughout the test. Overall it was the easiest section of all and hence ideal attempts could be 33+ in approximately 35 minutes (excluding errors). Good score in this section will be 28+.


Section: General English: 40 questions 1 mark each


The section stood by its name. SNAP maintained its tradition by giving negligible weightage to RC. But grammar was a surprise entry. There was good weightage to grammar and its application this year. Though it was relatively easy, scoring full in grammar is always difficult. Focus on Vocabulary and usage based questions was maintained as per the tradition. Questions on odd one out and double blanks were bit tricky because the options were close. As attempts are never a problem in Verbal section, a well prepared aspirant would have touched 35+ attempts in this section. But good score will be close to 29+.


Overall SNAP2011 can be rated as moderate paper. Ideal attempts can touch 107 and a net score of 100+ can be considered as really good. However the cutoffs for SIBM can be around 95 and SCMHRD can be around 90. Apart from the level of difficulty, there will be other parameters like number of applications, last date of closure etc affecting the cut-offs this year.


Probable Cut-offs


SIBM Pune 95+


SCMHRD 90+


SIIB 85+


SIBM Bglore 85+


SIOM 80+


SITM 76+


SCIT** 70+


SSBM 65+


SIMS 62+


SIMC*** 58+


SICSR 55+


SIHS 60+


SIG NA


Hitesh Devalia is the Director and CMO of Endeavor Careers, a leading test preparation institute in Ahmedabad and also the driving force behind www.catgurus.com, an online test preparation website.