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New Delhi: How many HRD Ministry appointed panel members does it take to review the functioning of the Indian Institutes of Management (IIMs)? The most efficient answer is zero. Anything more than that will create a report that is blinkered off the principles of education and only focus on some of the mechanics of admission and administration.

Two weeks ago, the R C Bhargava committee report ostensibly shocked everyone by declaring that the IIMs have not been “fair” to every meritorious candidate. Most newspapers published quotes from the report and focused on the high fee that deterred means-handicapped applicants.

Media reports highlighted the committee’s unhappiness with the present schemes of financial assistance given to students. And that lies at the crux of the committee’s famous acknowledgement of the unfairness of the admission policy of the IIMs. But in discussing this dimension of fairness, I think we are ignoring several other critical matters.

Over the past decade, I have been a volunteer with the admissions department at my Alma Mater, the McCombs School of Business at the University of Texas at Austin – one of the top 20 (sic) US business schools. I interview candidates and work closely with admissions officers and career services professionals at the university. The difference in the admission criteria between top US business schools and the IIMs is so stark that, despite contextual variance, I fear that one of these two has got it wrong. What makes this curiouser is the fact that despite the impressive global ranking that the IIMs brandish, I meet dozens of candidates possessing an MBA degree from the IIMs seeking a second MBA from a top US business school.

Without splitting hair, here are two of the major differences: First, top US business schools admit candidates with far more years of work experience than the IIMs do. Once upon a time, few candidates applying for CAT (the admission exam to the IIMs) had many years of work experience, and the IIMs probably did not have a choice, but today that is not the case. Another major difference is that the emphasis on multiple-choice entrance exam is exceptionally high in the case of the IIMs, while top US business schools do not use the GMAT (the admission exam for US and other global business schools) as an impenetrable hurdle.

The IIMs require a candidate to clear the CAT and only then move on to the stage of personality tests; group discussions and personal interviews. The much-famed, and feared, CAT, tests students in quantitative and verbal areas. It uses a healthy analytical undertone in its questions. But non-engineers are largely eliminated before the personality-testing stage as they do not clear the quantitative area. IIMs as well as the CAT coaching institute industry (of which I am a part) will cry themselves hoarse with examples that prove my conclusion inaccurate. But the fact is that the proportion of their examples should lead them to be classified as exceptions.

The quantitative area of the CAT asks a large number of questions on topics such as Sequences and Series, Functions, Permutation and Combinations, Probability, Number Systems, among others. Depending on the board, most of these topics are not covered up to class 10, after which several non-science stream students do not study Maths. Unless one accepts that advanced Math is a prerequisite to effective management performance, the extreme focus on this criterion is discriminatory. The HRD ministry committee ignored the plight of the meritorious candidates who may not crunch algebraic expressions well.

In a similar vein, the committee has also ignored the fact that the verbal section of the CAT tends to be so tough that students who have studied in the vernacular medium have close to no chance to clear hurdle number one: the CAT – another case of meritorious students not getting a chance at proving their management potential. CAT of Nov 2007 asked students the meaning of “flotsam and jetsam”! Despite there being a context to that, it is incorrigible to figure out the validity of that question.

Of course, it can be argued that panels and committees should not be allowed to comment on admission exams. I agree with that. In fact, I strongly believe that there is no recourse to improving the quality of IIM education, short of introspection by the IIMs. But when a committee focuses on unfairness to meritorious candidates, it cannot be so blinkered in its understanding of merit.
The committee in question also made recommendations for a salary hike of IIM faculty, which is curious when viewed in the context of its other recommendation of the IIMs running as businesses. Surely businesses can independently decide the remuneration structure of employees. This gets a little more worrying when one looks at specific numeric limits that the committee has recommended for the fee-split between faculty member and institute for consulting assignments and executive training programmes.

This committee report will add to the general belief that committee reports mean zilch. The committee probably knows this, as one of their observations is that recommendations suggested by previous panels remained only on paper (H P Nanda IIM review committee of 1979 and V Kurien’s second IIM review of 1991). It is time that the IIMs realize that the general admiration showered on them is primarily driven by the acute 1 : 100 filter they create at the entrance exam stage, which allows them to access the crème de la crème among applicants.
In the meanwhile not just will economically backward candidates lose out, but also several other candidates who do not satisfy an extremely narrow manager stereotype, as defined by the ivory towers at the IIMs.

Ajeet Khurana is director, Peak Seekers, a test-prep institute in Mumbai. An ex-lecturer of the McCombs School of Business at the University of Texas at Austin, he interviews MBA applicants for admission

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Source: http://www.livemint.com/2008/11/14151901/An-IIM-versus-a-global-MBA.html?h=B

Ajeet Khurana

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With many global companies setting their feet in India and looking for people with managerial skills, MBA, which wasn’t a much sought after educational option earlier, has taken a sudden high leap.

Privatization however, is one reason that intellectuals cite. When we look at MBA from a large perspective, the scope it offers is tremendous. Its value is pertinent and applicable in all sectoral opportunities. The quantitative skills an MBA possess make him potent enough to deal with relationship and managerial situations.

If we say it’s a business scenario in India, MBA again renders its functionality here. Accounting, Finance, Marketing, Statistics or Organizational behavior, MBA skills are an expected repertoire for all, and so much so, that is has become “the language of businesses”.

Today, a Management Degree has become an attractive proposition in India, and the best part is that it render its usability in all spheres. The Indian Job industry often encounters frequent changes. Say, with arrival of dot com sector (as is the recent fad), the industry is taken by storms. Now the scalability of MBA is such that it molds itself towards every growing industry, and slips away when the fall happens. The multi tasking quality that an MBA possess flaringly gets them through all phases. For instance, an MBA with marketing specialization may not necessarily do poorly when the industry gives it a downcast. He can easily get into other marketing arenas like marketing of mutual funds, insurance policies, etc., thereby minimizing career halts.

Another approach towards the rising popularity of MBA in India is also seen as a status symbol attached with it. With MBA being revered so much, many people are assured that an entry into a good MBA institute would land them in high posts. IIM is one among the prestigious educational MBA institutes, appreciated for bringing out quality MBA scholars.

While India is abuzz with many MBA schools and institutions, choosing one may be a task. A careful research before enrolling in any institute would be a fair move for MBA seekers. Internet may be the most convenient medium in this regard.

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Source: http://www.1888articles.com/indian-education-mba-s-big-scene-in-india-069757.html

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In the run up to CAT and other management exams, most aspirants are worried about choosing the right B-school and making the right decision on their MBA.In this column by Prof Ramesh Venkateswaran, author addresses these issues for MBA aspirants.

Prof Ramesh Venkateswaran is a Mechanical Engineer from Indian Institute of Technology, Bombay and post graduate in Business Management from Indian Institute of Management Bangalore. He was the Gold Medalist of his batch of 1980 at IIM Bangalore and winner of the Glaxo Marketing Scholar of the year. Further, he has over seventeen years of experience in the corporate sector and seventeen years as a management consultant and trainer. He has worked with Voltas and TVS Motors and has sales, marketing and general management experience. Prof Venkateshwar is a Director on the Board of Patni Computer Systems Limited.

How to get the best out of B-school

Column by Ramesh Venkateswaran, Director, SDM Institute for Management Development, Mysore

“THIS is the CAT season. There is a CAT mania amongst a large number of people in the 21 to 26 year age groups, trying to get into the best B school. Many CAT aspirants suffer from CAT fever and CAT phobia.

Each year seems to be getting tougher with more students chasing a limited number of seats in the “good” B schools. This year one newspaper reports that there are about 2.76 lakh students writing the CAT – a record! I am really glad and relieved that I did my IIM 30 years ago when things seemed much simpler.

This piece is not about CAT exams or interviews. I am sure you get enough of leads and advise from your coaching school, friends and well-wishers. I would like to share some thoughts on how to make B-school life less stressful and more fun.

I am intrigued by the numerous media reports on the economic downturn and what it means to B-school graduates. Interestingly, the focus is on employment opportunities – or the lack of them in the current context. There are also many reports about which management discipline will now be in fashion in view of the meltdown of the finance sector.

The net result is that young students, who have put in a lot of effort over the years and are already stressed because of the severe CAT / MAT / XAT competition, now get stressed on matters of the economy over which they have no control.

So what should one do when one gets into a B-school?

Many B-school aspirants ask me what are the specializations they should be considering since Finance does not seem very attractive now. The job scene for Finance people seems “bleak” and the demand is likely to be low this year.

Sure, things look tough now. But is this going to be a permanent feature? Is the purpose of getting an MBA primarily to worry about getting the best first job out of campus or is about doing well for the next 35 years of a person’s working life?

Like any industry, B-school demand is derived from the economy and the corporate world. There will be ups and downs linked to such external factors. One cannot and should not worry oneself about current upsets or slowdowns. I am sure an MBA is an investment one is making for one’s life.

As a student, the focus must be on getting a good all round management education. I am not able to grasp the emphasis laid on functional specialisation at the MBA level. Management is a very inter-disciplinary subject and an MBA must have good all round knowledge and competence in various disciplines.

I believe the utility of a manager lies in her flexibility and ability to see the total picture, which can only come if one has good inter-functional management skills. Of course, one may take more courses in a specific discipline where one has an interest.

So keep your options open. It is only the first job out of campus where your MBA degree will matter. After that, growth will depend on your performance and track record. The MBA is in fact only a passport for the first job.

The second area of major concern and stress for management students seems to be their first job and the first salary from campus. Very often peer pressure and perceptions lead students to want the “prized” jobs. Students often feel dejected and inadequate if they do not get the prized company.

I think it is important for students to consider the first few years after the MBA as a continuation of their post graduate education process. This is the time to try out a job, a company, an industry and see how one feels about all of them.

Today’s generation is much better placed than earlier generations in terms of choice and opportunity. You have a much wider choice and are generally less locked-in, into a job or organization that do not suit you.

I am sure Mr. Narayana Murthy – like numerous others — did not chart out his future or expect to be where he is when he was a PG at IIT Kanpur or a research associate at IIM Ahmedabad. Successful people have grabbed chances and seen opportunities where others have not.

To sum up, take the two-year MBA programme as a part of your ongoing life journey and not as a destination in itself. Remember, whatever decisions you take with regard to the programme, choice of courses or employment offers do not lock you in for a lifetime. There are enough ways to change course if you find that you do not enjoy what you are doing.

Which brings me to my last point. Enjoy yourself in the two years at B- school. These are times you will never get back. Case studies, group discussions, presentations, and management fests are all excellent opportunities to have enjoyable learning in teams or alone. They can be very exciting, stimulating and challenging. Never, never lose out on this chance by worrying about issues that do not matter or are outside your control.”

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Source: http://www.mbauniverse.com/innerPage.php?id=ne&pageId=1574

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The global meltdown and economic crisis has failed to cloud the summer placements of management students in Delhi and the National Capital Region. Not only have stipends risen, the profile of companies visiting campuses has also improved.

The Faculty of Management Studies (FMS), University of Delhi, got 40 new companies on campus this year. The average summer stipend also saw an increase from Rs 29,000 last year to Rs 37,000. While the highest domestic salary was Rs. 1 lakh for two months, the highest foreign salary stood at 3,100 Euros for two months.

“We have got varied offers from the best financial institutions including leading banks, investment banking, venture capital and private equity firms,” said Shifali Aggarwal, student.

IMT Ghaziabad has seen a 33 per cent rise in the highest stipend since last year.

“Investment banking is a very limited area. In contrast, corporate finance companies that were earlier overlooked by most management colleges are being sought after now. FMCG, retail and manufacturing have also been going steady,” said Sanjeev Prashar, chairman, placements at IMT.

Among the big recruiters at IMT are entertainment companies like MTV and O&M and oil and petroleum companies.

Students at Indian Institute of Foreign Trade (IIFT), Delhi are also a happy lot. The highest salary of the rolling summer placement this season is Rs 1 lakh, offered by Coca Cola India.

“The number of financial companies visiting campus have come down. But the number of companies in other sectors have increased,” said Ameet N Padiyar, convener, placements at IIFT.

At FMS, which has seen 100 per cent summer placement, the only downturn of the economic slowdown seems to be the profiles offered by financial firms.

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Source: http://www.hindustantimes.com/StoryPage/StoryPage.aspx?sectionName=&id=dae14faa-f8dd-48bc-91a3-6d1312c70527&MatchID1=4835&TeamID1=6&TeamID2=2&MatchType1=2&SeriesID1=1219&PrimaryID=4835&Headline=FMS+manages+100+pc+summer+placements

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The absence of excitement was palpable on the campus, although the hottest selling offers continued to be from I-banks and consultants, minus the top recruiter Lehman Brothers. Against 36 companies which showed up on Day Zero last year, this year there were less than 20 and against 120 offers made last year, this year only 50 came.

“Among the recruiters on campus were a mix of investment banks and consultancy firms. These included Goldman Sachs, Merrill Lynch, McKinsey and Co, The Boston Consulting Group, Deutsche Bank and Bain and Co. Most of the consultancies offered domestic placements but I-banks offered placements abroad,” said one of the students. The placements abroad included projects in US, UK, Hong Kong, Singapore and other locations in Asia. The other stark feature was that companies did not divulge stipends. Usually, stipends to be paid were disclosed when the offers are made. The buzz on the campus is that the lull in the market was showing in the summer placements. The senior batch is hoping that things will get better by the time of final placements.

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Source: http://timesofindia.indiatimes.com/Ahmedabad/Offers_dip_on_Day_Zero_at_IIM-A_summer_placement/articleshow/3710966.cms

Kumar Manish & Vasundhara Vyas Mehta

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B-schools’ summer placement figures indicate that the economic slowdown has not yet cast a shadow on their campuses. It is not only the premier Indian Institutes of Management (IIMs) but also most other B-schools that have maintained last year’s figures. In some cases, they have even registered a rise of over 25 per cent in top and average stipends.

For instance, at the Delhi-based Indian Institute of Foreign Trade (IIFT), the highest offer so far has been made for a stipend of Rs 1,00,000 against Rs 80,000 last year. The institute has also seen a 52 per cent increase in its average salary figures — from Rs 25,000 last year to Rs 38,000 this year.

The Ghaziabad-based Institute of Management Technology (IMT), too, recorded a 33 per cent jump in its stipend level this year at Rs 80,000, against Rs 60,000 last year. The institute has 10 international placements so far and has placed around 80 per cent of its students.

“We have had good response for summer placements and our policy of reaching out to companies from various sectors is paying off well,” said Professor Sanjeev Parashar, chairman (placements), at IMT Ghaziabad.

At the Faculty of Management Studies (FMS), six students received the highest domestic package of Rs 50,000 a month and three received the highest international package of $1,500 a month (around Rs 1,40,000 for two months).

The institute saw 100 per cent placements for the summer internship this year, with 40 new companies on the campus. Last year, Coca Cola and Microsoft had offered the highest domestic stipend of Rs 50,000.

“The summer placements went as anticipated but there was a change in the focus of the companies. We had more marketing and FMCG companies than before. Also, many consultants came this year,” said Professor Madhu Vij, corporate relations and placement advisor, FMS.

Mumbai-based Jamnalal Bajaj Institute of Management Studies recorded its highest domestic stipend of Rs 1,00,000, the same as last year. Companies that participated in the summer placements include major FMCG companies like Hindustan Unilever, Procter & Gamble and PepsiCo, which recruited students for marketing, corporate finance and treasury.

Among the IIMs, IIM Kozhikode (IIM-K) touched a high of Rs 291,000 ($ 6000 for two months) offered by Vega Foods, a Singapore-based company, for international offers. IIM-K also recorded the highest domestic stipend of Rs 100,000 (Rs 50,000 per month) for the two-month summer internship period, which begins in April 2009. The stipend has been offered by Coca Cola. Boston Analytics made a similar offer last year. Students at the institute have also received around 14 international offers against four offers last year. The offers have been made across various functions and in locations like Singapore, Hong Kong, Germany, Dubai, South Africa and London.

Meanwhile, IIM Bangalore and IIM Calcutta completed “slot zeros” on their campuses. The two days of “slot zero” — the most coveted slot assigned to recruiters — saw 100 students of Indian Institute of Management Calcutta (IIM-C) getting placed in finance, consulting and services companies, out of a batch strength of 300. The week-long process will see about 300 first-year students of the post-graduate programme in management securing placements for summer internships. The institute expects close to 100 companies to turn up for placements this year — up from 85 last year. IIM-C invited over 500 companies across sectors so that placements do not suffer this year.

At IIM Bangalore, day one of “slot zero” saw recruiters from finance and consulting companies despite concerns that there would be a slowdown in finance offers this year. Nearly 50 Indian and 50 global conglomerates are expected to participate in the week-long process to place 280 Post Graduate Programme (PGP) students for the summer internship.

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Source: http://www.business-standard.com/india/storypage.php?autono=340040

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While online has been around for a while, it has never been in vogue till recently. Many, like Hemant Batra, a working professional from Mumbai, opted for online coaching for the sheer convenience. “It was difficult for me to attend a regular coaching class and juggle work side by side,” says Batra, who logged on to Testfunda.com for guidance on how to crack the CAT exam.

Batra, who will be appearing for the exam on Sunday, is more than satisfied with the coaching he received. “Their database of questions was exhaustive,” he adds.

Batra is one of nearly 35,000 people who have logged on to Testfunda.com in the last four months. The portal was set up by four IIM alumni in mid-July.

Another hugely successful website for CAT preparation__Ten A Day (tenaday.co.in)__has 45,344 users. The website was started by four IIM Ahmedabad graduates who passed out from the institution in 2007.

Regular coaching classes, too, are beginning to explore the online route to CAT coaching. They are also exploring a combination of online as well as offline methods of reaching out to their students.

“We are in the process of developing an online coaching option for our students. It should be ready in a couple of months,” says Gautam Puri, vice chairman, Career Launcher, a well-known CAT coaching class. “There already exists a market for online coaching, but CAT going online will definitely boost the segment,” he adds.

Arks Srinivas, director, TIME institute, another CAT coaching class, plans to offer students a variety of coaching options, which include complete online training, complete offline training as well as a combination of online and offline training.

According to Sudhanshu Raheja, who was earlier heading MBA Karma, an online portal for CAT preparation, a large share of the market for online CAT coaching consists of candidates who have already given the CAT exam once or twice before and do not want to waste time commuting to a coaching class.

While MBA Karma has temporarily shut shop as it could not keep pace with the demand, Raheja hopes to rejuvenate the website soon.

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Source: http://timesofindia.indiatimes.com/Mumbai/Want_to_crack_CAT_Try_online_classes/articleshow/3710420.cms

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BANGALORE: The seven Indian Institutes of Management (IIMs) are increasing capital expenditure  and on an overdrive to build capacity to accommodate the batch of 2009, as many PG programmes will see a larger number of students this year thanks to the Moily Committee’s roadmap on 27% reservation for OBCs.

IIM-Calcutta will fork out Rs90 crore to build four new campus blocks in the next two years. The construction blueprint has made provision for an additional 168 rooms, including a new hostel block and an academic complex with 14 classrooms. A Management Development Centre will also come up by 2010. It will have 130 rooms of which 70 will be completed in the first phase, by May 2009.

“Right now, we have corpus funds. But we have to work out the math going ahead. At a later date, we will approach corporate houses for funding,” said Dinesh Varma, chief administrative officer, IIM-Calcutta.

IIM-Lucknow’s Noida campus has funnelled Rs 40 crore into a 300-room hostel facility for the 2009 batch. The hostel is ready. The Lucknow campus too is readying a war chest of Rs 12 crore to increase the existing room capacity of 600 to 660 plus (including 370 students of the 2009 batch) across programmes.

The institute increased the number of seats by 18%, of which half were set aside for OBC candidates in 2008. In numerical terms, it translates into 30 OBC seats out of the total 320 students last year. In 2010, fresh intake is set to increase by 30-40 seats. The OBC quota will increase from 9% in 2008 to 20% in 2009 and 27% in 2010.

Down south, IIM Kozhikode will construct an 84-room hostel in 2009. The Central Public Works Department has been entrusted with the constructions, like a new faculty block and MPD centre costing Rs 58 crore, officials said. Director Krishna Kumar would not confirm it.

Those IIMs that do not have sprawling campuses are looking at alternative solutions. IIM Bangalore is looking at off-campus housing as a stop-gap arrangement to house 150 students.

“We are starting construction of 300 hostel rooms, nine large classrooms and syndicate rooms, 24 faculty housing soon. Off-campus facilities will be rented by us till then,” IIM-Bangalore director Pankaj Chandra said.
shilpa_p@dnaindia.net
k_sobia@dnaindia.net

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Source: http://www.dnaindia.com/report.asp?newsid=1206292

Shilpa Phadnis and Sobia Khan

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Moving from the standard international study modules conducted by one year executive programmes in India, where students are sent to universities in the US and UK, Indian Institute of Management-Bangalore (IIM-B)’s soon-to-be launched one year full-time Executive Post Graduate Programme in Management (EPGP) plans to tie up with universities and companies in emerging economies.

he programme, commencing in April 2009, has decided to include a five-week international industry study internship to help participants experience the way business is done in emerging economies. The institute plans to tie-up with companies and universities in sectors preferred by students in Russia, China, Brazil and South Africa.

The move was taken on the basis of an observation by the institute that a large number of students taking up the one year post graduate programme for executives are those who have worked abroad and would like to come back for higher level management opportunities in India or an Asian country.

“Generally executive programmes send participants for internships in the US, UK, Germany and the like where they have already some degree of exposure. A detailed study and analysis of management problems in emerging economies would enrich the participants’ knowledge at a time when the focus is on countries like India and China,” said Pankaj Chandra, Director of IIM-B.

The institute plans to divide students into 3-4 groups and send them to an emerging economy of their choice where they will work with universities and companies for five weeks in preparing a research project. Chandra added that apart from core and elective courses, participants would be exposed to history, literature, philosophy and science and film studies during the one year of study.

The first batch of the programme will have a size of 75 students where other than the requirement of minimum 7 years work experience, participants would have to submit their GMAT score.

The cut-off GMAT score would be decided based on the average GMAT scores received from applicants. IIM Ahmedabad’s one year Post Graduate Programme in Management for Executives (PGPX) has generally seen a cut-off score of 699 with average scores hovering close to the 750 mark. The institute’s other one year executive programme, the Post Graduate Programme in Public Management and Policy (PGP-PMP) has had a GMAT cut-off of 600 and an average of 660.

Students for IIM-B’s latest offering will be lodged in rented apartments close to the institute due to lack of space at its campus. Fee for the programme has been pegged at Rs 18.75 lakh and Rs 19.70 lakh for married student housing.

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Source: http://www.business-standard.com/india/storypage.php?autono=340089

Archana M Prasanna