Im sure alot of u are as tired of the whole rat race process.... what am i to do... i read the newspaper inside out... try and gather all the information from my various sites being business standard, rediff and Mba preparatory site Testfunda.com..... today i was so exhausted that i called up alot of institutions mainly coaching classes to assist me on which college to choose after my CET GD PI rounds....
All these institutes had their counselors on the phone explaining what college could pick... but there is something id like to add...
While talking to one of these really depressing counselor i thought to myself maybe if I tried calling testfunda they would also give me some insight in the matter... I had taken their tests and studied from my friends testfunda notes and had found them to be nice and crisp....
so there i was calling testfunda.. someone answered there helpline no. and for a change my call wasnt transferred to ''THE CONCERNED PERSON''.... I must have sounded all tensed so the first thing that the lady on the call did was calmed me down.... she explained to me that though the scene was tough but there was still hope.... not only was i told what colleges i could get a call from but also i was told what all i could do just incase i dint make it.... it was a warm feeling which made me feel protected....
Im back to my warrior self.... ready to face the whole process again....
Ive already mailed testfunda a thank u note.... just wanted to tell all my readers....God really showed me light!!!
Saturday, April 17, 2010
Second rung b-schools struggling on placements: Research
B-schools across the country may be boasting of top class infrastructure and strong industry-academia interface but most of the Tier-II B-schools are struggling on the placements front and manage to achieve placements for only 20-40 per cent of their students.
Besides, the final placement process at these B-schools bags jobs for most of the students in insurance and sales and that too in the salary range of Rs 12000-22000 per month.
The lacklustre performance of these B-schools on the placements front is due to lack of practical sales training, says a research by Little Extra, a Kolkata-based sales training and research institute.
The research was conducted across 60 MBA institutes across the country with the owners, directors, training placement officers and faculty members of these institutes involved in the survey.
The survey also covered the HR heads and chief executive officers of 40 companies across sectors and 800 MBA students.
According to the survey, more than 80 per cent of the students are offered sales jobs but these students are not trained on sales concepts and its applications as the syllabus lacks practical sales training.
The survey states that the MBA/BBA syllabus of Biju Patnaik University of Technology (BPUT) and Fakir Mohan University, both based out of Orissa and some other MBA institutes do not have practical oriented training.
As per a report by leading global consultancy firm Gartner, various companies spent Rs 1500 crore on sales training for their employees in 2008-09. Though there are many sales trainers for the employers, there are not enough for the management institutes.
To ensure successful sales training at the B-schools, the faculty members must have worked at the managerial level and trained subordinates in sales function.
Sales is about how you talk to your prospect, how you present yourself and not just mention the facts about your product. To sell you need to have confidence in yourself, present your solution enthusiastically”, said Subrato Samddar, director, Little Extra.
Since sales is not just about selling, the research by Little Extra has suggested a two-pronged action- practical sales module and faculties with sales exposure.
Besides, the research has stressed on targeted, customized and holistic employability training focusing on Attitude or Emotional Intelligence (EI). Research says that EI can contribute to 90 per cent of success in life whereas IQ (Intelligence Quotient) contributes only 25 per cent.
The study reports that placements require a combination of corporate interaction through guest lectures and Management Development Programmes as well as employability training but most of the B-schools are deficient in these two aspects.
Apart from placements, the other area of concern is the inability of the second and third rung B-schools to fill up their capacity despite investing Rs 6-15 crore on college infrastructure and start-up costs.
Consequently, these institutes start admitting almost every one who applies, starting a vicious cycle of poor input, leading to poor placements.
The top 50 B-schools in India select just about three per cent of the total aspirants compared to management institutes of international repute like Harvard and Stanford which have a selection rate of 10 per cent.
The inability to attract good students, Samaddar feels is because of the failure to follow the basic rules of marketing like creating a niche brand equity and leveraging word of mouth publicity.
There are more than 1900 B-schools across the country producing over 95,000 management graduates annually.
Little Extra's research suggests that quality dips significantly beyond the top 50 B-schools in all key parameters like student input in communication skills, teaching quality, corporate interaction and final placements.
Source: business standard
Besides, the final placement process at these B-schools bags jobs for most of the students in insurance and sales and that too in the salary range of Rs 12000-22000 per month.
The lacklustre performance of these B-schools on the placements front is due to lack of practical sales training, says a research by Little Extra, a Kolkata-based sales training and research institute.
The research was conducted across 60 MBA institutes across the country with the owners, directors, training placement officers and faculty members of these institutes involved in the survey.
The survey also covered the HR heads and chief executive officers of 40 companies across sectors and 800 MBA students.
According to the survey, more than 80 per cent of the students are offered sales jobs but these students are not trained on sales concepts and its applications as the syllabus lacks practical sales training.
The survey states that the MBA/BBA syllabus of Biju Patnaik University of Technology (BPUT) and Fakir Mohan University, both based out of Orissa and some other MBA institutes do not have practical oriented training.
As per a report by leading global consultancy firm Gartner, various companies spent Rs 1500 crore on sales training for their employees in 2008-09. Though there are many sales trainers for the employers, there are not enough for the management institutes.
To ensure successful sales training at the B-schools, the faculty members must have worked at the managerial level and trained subordinates in sales function.
Sales is about how you talk to your prospect, how you present yourself and not just mention the facts about your product. To sell you need to have confidence in yourself, present your solution enthusiastically”, said Subrato Samddar, director, Little Extra.
Since sales is not just about selling, the research by Little Extra has suggested a two-pronged action- practical sales module and faculties with sales exposure.
Besides, the research has stressed on targeted, customized and holistic employability training focusing on Attitude or Emotional Intelligence (EI). Research says that EI can contribute to 90 per cent of success in life whereas IQ (Intelligence Quotient) contributes only 25 per cent.
The study reports that placements require a combination of corporate interaction through guest lectures and Management Development Programmes as well as employability training but most of the B-schools are deficient in these two aspects.
Apart from placements, the other area of concern is the inability of the second and third rung B-schools to fill up their capacity despite investing Rs 6-15 crore on college infrastructure and start-up costs.
Consequently, these institutes start admitting almost every one who applies, starting a vicious cycle of poor input, leading to poor placements.
The top 50 B-schools in India select just about three per cent of the total aspirants compared to management institutes of international repute like Harvard and Stanford which have a selection rate of 10 per cent.
The inability to attract good students, Samaddar feels is because of the failure to follow the basic rules of marketing like creating a niche brand equity and leveraging word of mouth publicity.
There are more than 1900 B-schools across the country producing over 95,000 management graduates annually.
Little Extra's research suggests that quality dips significantly beyond the top 50 B-schools in all key parameters like student input in communication skills, teaching quality, corporate interaction and final placements.
Source: business standard
IIM-Kozhikode in talks to set up satellite campus
In a bid to meet its infrastructure needs, Indian Institute of Management-Kozhikode (IIM-K) is mulling setting up a satellite campus in Kochi. The institute is expanding its existing campus area by acquiring 15 acres of land.
The institute is in talks with a public sector undertaking (PSU) in Kochi to take one of its buildings on rent. The PSU has a campus of around 200 acres. IIM-K has already received the approval of its board to start negotiations for the building. “We are in talks (for the satellite campus). If it goes through, we will look at new offerings and short term programmes on the campus,”said Debashis Chatterjee, director of IIM-K.
Spread over 100 acres of land, IIM-K is situated on two hillocks in Kunnamangalam area of Kozhikode. The 15 acres of land it has acquired will be utilised for water harvesting and constructing other facilities like a gymnasium. The institute has invested Rs 20 crore for this land which has been sourced from a combination of its corpus fund, grants and profits. It has a corpus of around Rs 100 crore. So far, only IIM-Lucknow among the IIMs has a satellite campus, which is located in Noida. Chatterjee said that once negotiations would be complete, decisions on programmes, intake among other things, would be taken.
Started in 1997 with a batch of 42 students for its PGP, the institute’s intake for 2009 was 309 students which is an increase of five times in seven years. It is a pioneer of on-site learning programmes and runs seven programmes with HughesNet Global Education. For the the incoming PGP batch, the institute has increased its fees by a lakh taking the fee to Rs 10 lakh for the two year programme. The institute is also in the process of getting an Association of MBAs (AMBA) accreditation, which it expects to receive by next year.
The institute is in talks with a public sector undertaking (PSU) in Kochi to take one of its buildings on rent. The PSU has a campus of around 200 acres. IIM-K has already received the approval of its board to start negotiations for the building. “We are in talks (for the satellite campus). If it goes through, we will look at new offerings and short term programmes on the campus,”said Debashis Chatterjee, director of IIM-K.
Spread over 100 acres of land, IIM-K is situated on two hillocks in Kunnamangalam area of Kozhikode. The 15 acres of land it has acquired will be utilised for water harvesting and constructing other facilities like a gymnasium. The institute has invested Rs 20 crore for this land which has been sourced from a combination of its corpus fund, grants and profits. It has a corpus of around Rs 100 crore. So far, only IIM-Lucknow among the IIMs has a satellite campus, which is located in Noida. Chatterjee said that once negotiations would be complete, decisions on programmes, intake among other things, would be taken.
Started in 1997 with a batch of 42 students for its PGP, the institute’s intake for 2009 was 309 students which is an increase of five times in seven years. It is a pioneer of on-site learning programmes and runs seven programmes with HughesNet Global Education. For the the incoming PGP batch, the institute has increased its fees by a lakh taking the fee to Rs 10 lakh for the two year programme. The institute is also in the process of getting an Association of MBAs (AMBA) accreditation, which it expects to receive by next year.
Friday, April 9, 2010
10 tips to ace your B-school interview
After the written exam, most management institutes invite you for the next stage of the testing procedure, which could comprise essay writing, group discussions and interviews. In fact, almost every institute uses interviews to assess the suitability of the candidate.
So what are the broad topics that you should prepare for in interviews?
There are some questions/ topics that you should be ready to address. These are:
Source: rediff.com
So what are the broad topics that you should prepare for in interviews?
There are some questions/ topics that you should be ready to address. These are:
- Your introduction
- Academics (especially for candidates who are currently in their final year or who have just recently completed their graduation)
- Work experience (for candidates who are currently working)
- Current affairs and business awareness related questions, to assess whether a candidate is aware of and can speak on broader issues of national or international importance
- General questions such as why you wish to do an MBA, your career plans, etc
- Your hobbies and interests
- Your strenghts and weaknesses
- In your introduction, try to ensure that you go beyond just repeating some mundane details about yourself. Try and make your introduction interesting by highlighting your unique qualities, interests, aims, etc.
- It is important to also highlight your achievements in your introduction, this could impress the evaluators and go a long way in ensuring your success.
- You could write down some points about yourself that you wish to cover in your introduction, this will ensure that you don't miss anything and may also aid in a smooth delivery on the day itself.
- When preparing to talk about academics, you will need to revise the fundamentals/ basics of the subjects you have studied during your graduation. Application-based questions could also be asked. For example, engineers with an electronics and communication background are often asked the differences between GSM and CDMA and which technology they think is better and why etc. Similarly, a candidate with an economics background may be tested on the relevance of Keynesian theories today, especially in the light of recent global economic developments.
- Quite often, candidates are asked about their favourite subjects and are asked questions on these. So think about which subjects you are ready to answer questions on!
- For candidates with work experience, the panel could ask you about the company in which you work and your role, as well as your firm's major competitors, the industry in which your company operates in, etc. Plus, be prepared for questions on recent developments in the industry -- such as large M&A deals, etc.
- Whatever your background, I strongly suggest that you read a newspaper every day. This will go a long way in helping you answer questions pertaining to GK and business awareness (besides helping you in the GD/ essay writing round as well (if any)).
- For questions on your career goals, strenghts and weaknesses, hobbies, etc ensure that you do some introspection and above all, be honest! Do not invent some hobby or strength just to impress the interviewer. Try and think about these questions -- remember that if you mention a particular strength, you may be asked to justify it by providing an example of when you actually demonstrated that particular strength.
- I suggest you read about the MBA course before the interview. If asked a question such as "Why MBA?", you could speak about the subjects that you are interested in or how the methodology used for teaching the course interests you -- the use of case studies, 'live projects' with companies, the summer placement experience, interactions with people working in the corporate sector through guest lectures, etc.
- Finally, it is a good strategy to practice for the actual interview by undergoing a couple of mock interviews and seeking feedback. You will find that practice helps you improve your responses and provides you indicators on which areas you need to prepare better.
Source: rediff.com
Disgruntled CAT candidates to move Delhi HC
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Saturday, April 3, 2010
How is the Sensex calculated
For the premier Bombay Stock Exchange that pioneered the stock broking activity in India, 128 years of experience seems to be a proud milestone. A lot has changed since 1875 when 318 persons became members of what today is called The Stock Exchange, Mumbai by paying a princely amount of Re 1.
Since then, the country's capital markets have passed through both good and bad periods. The journey in the 20th century has not been an easy one. Till the decade of eighties, there was no scale to measure the ups and downs in the Indian stock market. The Stock Exchange, Mumbai in 1986 came out with a stock index that subsequently became the barometer of the Indian stock market.
Sensex is not only scientifically designed but also based on globally accepted construction and review methodology. First compiled in 1986, Sensex is a basket of 30 constituent stocks representing a sample of large, liquid and representative companies.
The base year of Sensex is 1978-79 and the base value is 100. The index is widely reported in both domestic and international markets through print as well as electronic media.
The Index was initially calculated based on the "Full Market Capitalization" methodology but was shifted to the free-float methodology with effect from September 1, 2003. The "Free-float Market Capitalization" methodology of index construction is regarded as an industry best practice globally. All major index providers like MSCI, FTSE, STOXX, S&P and Dow Jones use the Free-float methodology.
Due to is wide acceptance amongst the Indian investors; Sensex is regarded to be the pulse of the Indian stock market. As the oldest index in the country, it provides the time series data over a fairly long period of time (From 1979 onwards). Small wonder, the Sensex has over the years become one of the most prominent brands in the country.
The growth of equity markets in India has been phenomenal in the decade gone by. Right from early nineties the stock market witnessed heightened activity in terms of various bull and bear runs. The Sensex captured all these events in the most judicial manner. One can identify the booms and busts of the Indian stock market through Sensex.
Sensex Calculation Methodology
Sensex is calculated using the "Free-float Market Capitalization" methodology. As per this methodology, the level of index at any point of time reflects the Free-float market value of 30 component stocks relative to a base period. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market capitalization.
The base period of Sensex is 1978-79 and the base value is 100 index points. This is often indicated by the notation 1978-79=100. The calculation of Sensex involves dividing the Free-float market capitalization of 30 companies in the Index by a number called the Index Divisor.
The Divisor is the only link to the original base period value of the Sensex. It keeps the Index comparable over time and is the adjustment point for all Index adjustments arising out of corporate actions, replacement of scrips etc. During market hours, prices of the index scrips, at which latest trades are executed, are used by the trading system to calculate Sensex every 15 seconds and disseminated in real time.
Understanding Free-float Methodology
Free-float Methodology refers to an index construction methodology that takes into consideration only the free-float market capitalisation of a company for the purpose of index calculation and assigning weight to stocks in Index. Free-float market capitalization is defined as that proportion of total shares issued by the company that are readily available for trading in the market.
It generally excludes promoters' holding, government holding, strategic holding and other locked-in shares that will not come to the market for trading in the normal course. In other words, the market capitalization of each company in a Free-float index is reduced to the extent of its readily available shares in the market.
In India, BSE pioneered the concept of Free-float by launching BSE TECk in July 2001 and Bankex in June 2003. While BSE TECk Index is a TMT benchmark, Bankex is positioned as a benchmark for the banking sector stocks. Sensex becomes the third index in India to be based on the globally accepted Free-float Methodology.
________________________________________
Example :
Suppose the Index consists of only 2 stocks: Stock A and Stock B.
Suppose company A has 1,000 shares in total, of which 200 are held by the promoters, so that only 800 shares are available for trading to the general public. These 800 shares are the so-called 'free-floating' shares.
Similarly, company B has 2,000 shares in total, of which 1,000 are held by the promoters and the rest 1,000 are free-floating.
Now suppose the current market price of stock A is Rs 120. Thus, the 'total' market capitalisation of company A is Rs 120,000 (1,000 x 120), but its free-float market capitalisation is Rs 96,000 (800 x 120).
Similarly, suppose the current market price of stock B is Rs 200. The total market capitalisation of company B will thus be Rs 400,000 (2,000 x 200), but its free-float market cap is only Rs 200,000 (1,000 x 200).
So as of today the market capitalisation of the index (i.e. stocks A and B) is Rs 520,000 (Rs 120,000 + Rs 400,000); while the free-float market capitalisation of the index is Rs 296,000. (Rs 96,000 + Rs 200,000).
The year 1978-79 is considered the base year of the index with a value set to 100. What this means is that suppose at that time the market capitalisation of the stocks that comprised the index then was, say, 60,000 (remember at that time there may have been some other stocks in the index, not A and B, but that does not matter), then we assume that an index market cap of 60,000 is equal to an index-value of 100.
Thus the value of the index today is = 296,000 x 100/60,000 = 493.33
This is how the Sensex is calculated.
The factor 100/60000 is called index divisor.
Source: testfunda.com
Since then, the country's capital markets have passed through both good and bad periods. The journey in the 20th century has not been an easy one. Till the decade of eighties, there was no scale to measure the ups and downs in the Indian stock market. The Stock Exchange, Mumbai in 1986 came out with a stock index that subsequently became the barometer of the Indian stock market.
Sensex is not only scientifically designed but also based on globally accepted construction and review methodology. First compiled in 1986, Sensex is a basket of 30 constituent stocks representing a sample of large, liquid and representative companies.
The base year of Sensex is 1978-79 and the base value is 100. The index is widely reported in both domestic and international markets through print as well as electronic media.
The Index was initially calculated based on the "Full Market Capitalization" methodology but was shifted to the free-float methodology with effect from September 1, 2003. The "Free-float Market Capitalization" methodology of index construction is regarded as an industry best practice globally. All major index providers like MSCI, FTSE, STOXX, S&P and Dow Jones use the Free-float methodology.
Due to is wide acceptance amongst the Indian investors; Sensex is regarded to be the pulse of the Indian stock market. As the oldest index in the country, it provides the time series data over a fairly long period of time (From 1979 onwards). Small wonder, the Sensex has over the years become one of the most prominent brands in the country.
The growth of equity markets in India has been phenomenal in the decade gone by. Right from early nineties the stock market witnessed heightened activity in terms of various bull and bear runs. The Sensex captured all these events in the most judicial manner. One can identify the booms and busts of the Indian stock market through Sensex.
Sensex Calculation Methodology
Sensex is calculated using the "Free-float Market Capitalization" methodology. As per this methodology, the level of index at any point of time reflects the Free-float market value of 30 component stocks relative to a base period. The market capitalization of a company is determined by multiplying the price of its stock by the number of shares issued by the company. This market capitalization is further multiplied by the free-float factor to determine the free-float market capitalization.
The base period of Sensex is 1978-79 and the base value is 100 index points. This is often indicated by the notation 1978-79=100. The calculation of Sensex involves dividing the Free-float market capitalization of 30 companies in the Index by a number called the Index Divisor.
The Divisor is the only link to the original base period value of the Sensex. It keeps the Index comparable over time and is the adjustment point for all Index adjustments arising out of corporate actions, replacement of scrips etc. During market hours, prices of the index scrips, at which latest trades are executed, are used by the trading system to calculate Sensex every 15 seconds and disseminated in real time.
Understanding Free-float Methodology
Free-float Methodology refers to an index construction methodology that takes into consideration only the free-float market capitalisation of a company for the purpose of index calculation and assigning weight to stocks in Index. Free-float market capitalization is defined as that proportion of total shares issued by the company that are readily available for trading in the market.
It generally excludes promoters' holding, government holding, strategic holding and other locked-in shares that will not come to the market for trading in the normal course. In other words, the market capitalization of each company in a Free-float index is reduced to the extent of its readily available shares in the market.
In India, BSE pioneered the concept of Free-float by launching BSE TECk in July 2001 and Bankex in June 2003. While BSE TECk Index is a TMT benchmark, Bankex is positioned as a benchmark for the banking sector stocks. Sensex becomes the third index in India to be based on the globally accepted Free-float Methodology.
________________________________________
Example :
Suppose the Index consists of only 2 stocks: Stock A and Stock B.
Suppose company A has 1,000 shares in total, of which 200 are held by the promoters, so that only 800 shares are available for trading to the general public. These 800 shares are the so-called 'free-floating' shares.
Similarly, company B has 2,000 shares in total, of which 1,000 are held by the promoters and the rest 1,000 are free-floating.
Now suppose the current market price of stock A is Rs 120. Thus, the 'total' market capitalisation of company A is Rs 120,000 (1,000 x 120), but its free-float market capitalisation is Rs 96,000 (800 x 120).
Similarly, suppose the current market price of stock B is Rs 200. The total market capitalisation of company B will thus be Rs 400,000 (2,000 x 200), but its free-float market cap is only Rs 200,000 (1,000 x 200).
So as of today the market capitalisation of the index (i.e. stocks A and B) is Rs 520,000 (Rs 120,000 + Rs 400,000); while the free-float market capitalisation of the index is Rs 296,000. (Rs 96,000 + Rs 200,000).
The year 1978-79 is considered the base year of the index with a value set to 100. What this means is that suppose at that time the market capitalisation of the stocks that comprised the index then was, say, 60,000 (remember at that time there may have been some other stocks in the index, not A and B, but that does not matter), then we assume that an index market cap of 60,000 is equal to an index-value of 100.
Thus the value of the index today is = 296,000 x 100/60,000 = 493.33
This is how the Sensex is calculated.
The factor 100/60000 is called index divisor.
Source: testfunda.com
IIMs blame NIIT for CAT fiasco
The NIIT, the Indian software giant which designed the infrastructural system of online CAT, is now being criticized by the Indian Institutes of Management (IIMs) for the technical faults in Common Admission Test (CAT) 2009. However, the blame was initially put upon the U.S.-firm Prometric, which designed the module for the online CAT.
After studying the various details submitted by Prometric, the Chairmen revealed that the technical faults occurred due to the problems in the local area network (LAN) which was was under the NIIT's responsibility. Furthermore, IIMs had cleared Prometric to give it clean chit to carry on conducting the test. According to an official, if the directors agree with the suggestions of the admission chairmen, the CAT will be conducted by Prometric while the other regulating partner, NIIT, may not be looked for contract further.
The Common Admission Test (CAT) 2009 was conducted in two stages. After the first stage, the problem was generated due to the virus attack, according to the presentation put by the firm to the IIMs. It was a major setback to the IIMs. As a result, the IIM directors will discuss in a meeting, which is scheduled in April 2010, the recommendations made by the admission chairmen. The major point of discussion will be to decide the final conductor of CAT exam this year.
Source: testfunda.com
After studying the various details submitted by Prometric, the Chairmen revealed that the technical faults occurred due to the problems in the local area network (LAN) which was was under the NIIT's responsibility. Furthermore, IIMs had cleared Prometric to give it clean chit to carry on conducting the test. According to an official, if the directors agree with the suggestions of the admission chairmen, the CAT will be conducted by Prometric while the other regulating partner, NIIT, may not be looked for contract further.
The Common Admission Test (CAT) 2009 was conducted in two stages. After the first stage, the problem was generated due to the virus attack, according to the presentation put by the firm to the IIMs. It was a major setback to the IIMs. As a result, the IIM directors will discuss in a meeting, which is scheduled in April 2010, the recommendations made by the admission chairmen. The major point of discussion will be to decide the final conductor of CAT exam this year.
Source: testfunda.com
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