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Sunday, April 29, 2007

A PERSONAL MAIL TO SOMEONE I DONOT KNOW

This is perhaps the most unusual post I have ever written. This is likely to be a personal mail for someone whom I never got a chance to know well enough. The interesting thing is that I still don’t know if this mail is targeted to the right person. And the unfortunate thing is that there is no other way I can trace this person out, apart from this blog.

S…If you are the same S which I am thinking you are (am I crazy…how will you know which S I mean…but maybe you are the same S and maybe you can identify this post), then wish you all the very best for your IAS final stage. I know you will crack it. Cheers.

Thursday, April 26, 2007

QUOTA - FROM A DIFFERENT FRAME

I was debating the OBC quota issue with one of my friends…and the outcome of the discussion made me look once again into the same issue from a different frame. I am strictly against the quota system and the person with whom I was discussing the issue gave me the following reasons supporting the system.

1. A kind of informal quota system exists in the top US universities, which these universities like to define as “diversity”, more so in the social or demographic context. These universities like to restrict profiles from one particular society and demography. For instance, every university has an informal idea of the break-up- whites, blacks, Latinos, Asians, and Africans etc. The selection criterion is much stringent for an Indian to study in the top US University than an African. An Indian aspiring to enter a US top 10 should target at least 720 in GMAT while the score can come down to as less as 650 for someone from Africa. Thus the competition of the white is restricted to other whites, blacks with blacks, Asians with Asians etc. each with relatively different selection criterion. Now the question is “Is merit sacrificed in these universities”?

2. The second point that he raised is that Indian universities admit and produce “like-minded individuals”. For instance, Indian top B-Schools are likely to produce people who generally restrict themselves to the corporate context. Social management is not considered something “challenging enough” amongst Indian top b-school students. Compare this with someone from Harvard who moves on to Africa with a mere 1000 dollar package to start a team to fight various diseases etc.

3. The third reason was that Indian selection definition of “meritocracy” and “talent”. We define meritocracy as cracking 120 tough questions in two hours, or scoring a 700+ in GMAT or solving the IITJEE paper. Now, is this really the case? Is academic brilliance (extremely high IQ) a pre-requisite for a relatively good manager or a technocrat? Elements of pragmatism and practicality are not so visible in the entrance examinations.

And to quantify the success of our universities, what have the average alums (IITs and IIMs) achieved apart from success in academic and the corporate world? Most of the people from the IITs and IIMs have their presence felt only in the corporate sector or in the leading US universities. We rarely find them active in politics, organizations like ISRO, DRDO or carrying out initiatives in rural India or similar things which are much more challenging. This is not the case with the alumni of the US universities.

I also had my reasons explaining the negative aspects of the quota system but certainly I find some logic in what my friend argued.

Tuesday, April 24, 2007

LATEST...

Came back home after attending two weddings….almost dead…marriages in this part of the country are too traditional and boring (personal opinion)…nevertheless…got two new sister-in-laws added to the list of ever increasing list of relatives…

Traveled by a long distance bus…after almost a decade….saw the small mountainous mining town of Keonjhar on my way….this was the place where I spend the earliest days of life…life was so different then…from all dimensions…

I was chatting with some of my friends from ISB (CO07), who were present during the orientation week and realized something striking in the CO08…people from IT background seem to be in minority…CAs occupy a much bigger number as compared to our batch and one can find a lot of Indian Civil Services people (IFS, IAS, IPS kinds), army men and marines in this years batch…IITians from non-IT fields occupy a healthy number as usual. But the most important trend is the rising number of international (not NRIs) students. That means more challenges for ISB…as there will be more customized profiles. But there in lies the fun…more the challenges the sweeter the success.

Thursday, April 19, 2007

ARE WE TOLERANT ENOUGH?

From the day, we land up in primary school, we are taught how tolerant we are as Indians. But are we really tolerant as compared to the people of other countries? Simple things like the following give an answer to this issue. I can only limit my examples to those situations with which I am familiar with.

When we drive our vehicles, we know how intolerant we are. Traffic decorum doesn’t carry very appreciable levels.

Another instance is when we react to the success of other people. Even in places like IIT and ISB, when someone cracks a so-called great job, the first reaction that comes out of a reasonable chunk of population is “how can he/she make it to such a job”. At the time of applying to various universities, when someone makes it to a good school, people keep on throwing the same question. I think personal jealousy levels are quite high in India

Even the best of friendships end when people join the same company in somewhat similar roles. Professional life is marked with even higher levels of intolerance. We, as Indians always have a strong ego to live with.

When I read the comments sections of the electronic media, I realize that intolerance level of the people is at an all time high.

We always derive great pleasure when we move ahead of someone and find it difficult to absorb the feeling that someone else is better than us. Individual achievements are often given higher importance than team spirit.

There are number of other such issues of day to day life, which is making me believe that we are not as tolerant as we should be.

Sunday, April 15, 2007

THE RIDE BEGINS FOR CO08

Class of 2008 started their ride yesterday....was spending some time reading some of the blogs...experienced a kind of vicarious pleasure...I have added links to some of these blogs...will keep on adding more as I discover more of these.

Talked with H today...she is in ISB these days for the orientation week...delivering gyan in marketing and media related fields....Chatted with A...He got his joining date advanced and will start working from tomorrow...Mails are flowing in the alum mail id that was provided to us by ISB...range of topics is huge...from job postings to typical ISB spams...The bonding of this small but well-networked alumni community seems quite interesting.

As for me, I am still to get used to the slow pace of a vacation...will be travelling to Mumbai on June 3rd...quite some time to spend in home.


Saturday, April 14, 2007

269

Yesterday evening was fun….met 269A after a year….had met him a year ago when I was about to move to Hyderabad. 269C got married on 12th of this month in Chennai and this was indeed an interesting topic of discussion last evening. Lots of changes in everyone’s life, yet when we meet, it is the same lingo we use…same topics of discussions…same longing eyes trying to search for the past memories… 269A has been staying in Calcutta since the last two and a half years…is already married…and now planning for his MBA…facing the normal set of confusions whether to do MBA in US or India….

The topic of discussions was indeed beyond 269...We talked about how things used to break the moment Ap used to touch them...how Sam will be dealing with his female fans as a professor...what finally forced A to take shower everyday...where will the latest married couple of the batch move to celebrate their honeymoon...who is the richest person of the batch....M's journey to Harvard....blah blah..

BTW…I was 269B….and 269A and 269C were my roommates during first year of engineering.

Wednesday, April 11, 2007

THE LAW OF THE FEW

During our MBA lectures, we were used to the 20-80% rule. In its simplest definition, this rule suggests that 80% of the best, effective or profitable things come from 20% of the top performers. For instance, for a bank, 80% of the profits come from 20% of the customers. Carrying this concept forward, we can notice that 80% of the most successful contracts are gained by the top 20% of the employees. The top 80% of the best research in a university is done by the top 20% of the researchers….

This concept is more articulately dealt with by Malcolm Gladwell in the first half of his bestseller “The Tipping Point”. So let me write down very briefly about the “the law of the few” and the “stickiness factor” which are described into great depths by Gladwell.

According to “the law of few”, there are exceptional people who are capable of starting social epidemics (of course, in a positive sense). Malcolm Gladwell describes the three types of exceptional people whom he addresses as “few” – Connectors, Mavens and Salesmen.

In a social epidemic, Mavens are the data banks, connectors are social glue, and salesmen are those who have the skills to persuade the world when people are unconvinced of what they are hearing.

Maven is not a persuader. His motivation is to help and educate others. In the words of Gladwell “a maven is someone who solves his own problem and emotional needs by solving other people’s problems”.

Word of mouth epidemics are what connectors are really good at. Such people are socially very active are well known for contacts spanning over a wide range of professions. They need not know each of the people very closely. In fact they define their social contacts as acquaintances (or weak ties). Connectors know well the strength of such “weak ties”. The closer an idea or product comes to a connector, more the chances are that it will be successful…and spread like a wildfire. The importance of connectors is a function of both how many acquaintances they know as well as kinds of people they know. One way to appreciate the concept of “connectors” is through the “Six degrees of Kevin Bacon”, where not all the degrees are equal.

The interesting feature of a successful salesman is the extent to which he can be persuasive in a way quite different from his words, by the virtue of his energy and enthusiasm, carrying the philosophy of an optimist.

Though Gladwell goes much deeper in explaining the nature of these three kind of “the few” people, in the first half of Tipping point”, yet the basic theme is limited to the type and the efficacy of these people measured with the concept of stickiness. Stickiness suggests that there is a simple way to package information that can make it irresistible in the minds of the public. The more the idea stays with the public, the higher is the stickiness factor.

It is quite easy to link this concept to the real world. Just by looking out the successful people around, one can define them either as a connector or a Maven or a salesman. Some extraordinary people are three-in-one, but such breeds must be really quite rare.

Monday, April 09, 2007

"POST-ISB" LIFE BEGINS

My first post post-ISB…..typing lazily from the comfort and luxury of home…

Convocation was great…Within a span of twenty seconds, I had the opportunity to shake hand with Mr. Rajat Gupta, Dr. Montek Singh Ahluwalia and Dean Rao…..what a moment was that...

Now I am the proud possessor of the ISB certificate…we got two certificates…the PGP certificate from ISB and the other congratulatory certificate signed by the deans of Wharton and Kellog….

Missing ISB terribly….missing each and every moment spent at ISB…I think the campus would be in its most deserted days…and it will remain until the next batch arrives….a matter of a week.

Tuesday, April 03, 2007

GOODBYE FROM ISB

Sooo friends...finally the day has come when I have to say goodbye to ISB. Tomorrow, my laptop will be out of the ISB network...and for the next couple of days, I will busy with the convocation and the final exit formalities. This post is likely to be my last post from ISB....
Many thanks to all the readers of this blog...for all the comments and encouragements.
I will continue to blog even after I leave ISB....lots of things I have always wanted to type down...but never got the time.
Before I say the final Goodbye from ISB....here is something I will like to say to the Class of 2008
"All the very best for this amazing year you will be spending in this amazing place. Enjoy every moment of it....so that at the time of leaving, you can look back and smile at those wonderful memories."

Monday, April 02, 2007

THE STORY OF NA

I have written about all those that transpired in ISB….I wrote about what happened to F-6. I wrote about where two of my quad-mates (NM & SC) are heading to. What I had missed out was the story of NA, my third quad-mate. Well….not without a reason of course.

I knew NA was brilliant from the very first term (undoubtedly he should be in the top ten of the batch….). But what I did not know about him is his amazing ability to handle stress and tolerance for ambiguity. This gentleman, at 32 can work harder than most of the people in the campus. Starting from the family leather business to the super-marts of US….from acting on the stage to achieving a CA degree in the midst of lot of responsibilities…from Wipro to American Express….the kind of experience this guy has collected till date is simply amazing.

He was amongst the top ten….yet none of the top three general consultancies selected him….some said he did not have an educational pedigree (IIT or CA big four blah blah)…others said he is too old for the profile.

Initially this was a shock for him…I still remember the expressions in his face when he informed me that he got the reject mail of the final interview of one of the big consultancies. That evening we went to a nearby Chinese restaurant and spend the evening thinking about life and all the game it plays.

The placement week moved ahead….NA interviewed a few companies and these companies were read to pay him 20L packages. But our man was just not ready to compromise with the role. He did not accept any job and kept the battle on.

Placement week got over…the frequency of companies visiting ISB also reduced….in spite of pressures from all angles, our man decided to keep searching for the dream job. He started contacting alums…met as many people as possible…traveled to Mumbai so many times….but no way he was ready to compromise with his dream.

Finally…as they say...fortune favors the brave…NA is amidst jobs…and not one or two….and all of them fitting so well into his aspirations. He received offers from one of the most revered financial consultancy firm (of the world) and some other offers including corporate banking as well as investment banking…..

This man deserves his success….he deserves every bit of his hard earned success.

Cheers for one of the most amazing persons I have ever met in my life.

Saturday, March 31, 2007

HOW WILL BE THE NEXT JOURNEY???

It has been quite sometime after that….still the memories of those lovely days are in their clearest form. So many things had happened for the first time…

For the first time in my life, I boarded an international flight….for the first time I experienced how it feels when the temperature is -15 degree…for the first time, I was inside a car that was moving at 160 km/hr…

For the first time, I saw the most intricate of engineering marvels built before my eyes….for the first time, I felt the importance of being responsible for something…for the first time, I learnt that a small mistake can create irreparable damage…

For the first time, I worked with people from so many different nationalities...for the first time, I realized that professional success has very little to do with academic success.

For the first time, I met people who followed a complete different philosophy of living life...for the first time, I realized how life is to be lived…


Five years down the line……as I prepare myself to move into the next journey….I keep on wondering how life will be….will it be as beautiful as it used to be…or I will be one of the many….lost in a sense of misaligned competitiveness…

Friday, March 30, 2007

FEW HOURS AGO....

Time flies….seems like yesterday when I attended my first lecture in ISB….my first presentation…my first assignment….

A few hours ago…I presented my last presentation in ISB … attended my last lecture …. submitted my last assignment.…

It was an unforgettable moment when we stood up and clapped for the last time…after the Behavioral Finance class…we knew this was the last time we were clapping as students of ISB within one of the Lecture Theatres. Every moment of the last class was so touching.

Within a fortnight….everything will start once again…Managerial Economics... Statistics….Accounting…Marketing…just as it started exactly a year ago. But we will not be there to listen to those phenomenal professors. A complete set of new faces will take over the campus in just another fortnight…

I don’t know if life will provide me another opportunity to be a student again…but yeah….life as a student is always sweet…very sweet….

Life is such a dynamic affair….

Thursday, March 29, 2007

INDIAN JUDICIARY - A SYMBOL OF JUSTICE

The decision of the Supreme Court over the quota issue proves that everything is not wrong with the system. It brings back the faith that somebody is guarding the integrity and destiny of the nation. The decision for a stay to the 27% OBC reservation goes to root of the constitutional issues which say that reservation is not a long term solution.

I am still not aware how the distinguished people sitting in the parliament can even think of such a draconian act, which will not only destroy the fabric of higher education in India but also divide the Indian society on the basis of caste. Can a politician be such power hungry that he is ready to destroy all the fundamental concepts of upliftment? Can a politician be so selfish that he can destroy a reputed system just for the sake of vote-bank? But unfortunately, it’s true.

God knows where the battle is likely to move…but the faith of an Indian on Judiciary of India is even more deeply entrenched now.

Sunday, March 25, 2007

LATEST

Last week was busy ....in terms of assignments. With an average of three assignments per day, this week reminded of the dreaded Term-2. Not that this term is tough…just that most of the assignments were compressed during this time.

With mercury level rising, weather is getting worse with each passing day. The dis-orientation week will start soon followed by all the exit formalities. With India out of the World cup, we have to find different avenues to make this period memorable.

The PGP forum was concluded recently. This is done to provide feedback to the ISB administration on where things can work better and which practices should be discontinued etc. Every year the practical feedbacks are introduced for the incoming batch. No system is perfect and there is always plenty of scope to climb the positive slope. Feedbacks of last years batch were introduced in our batch and certain things went great. The experience of our batch should definitely help the next batch and this trend will continue.

Sunday, March 18, 2007

FREAKONOMICS

Finally… I completed “Freakonomics” over the weekend. Interesting book, but I would have appreciated it more had I read it before my MBA application process. Most of the things covered in the book reflect simple and powerful concepts of incentives, cause-effect relationship and the concept of conventional wisdom. What give a distinct touch to the book are the unique comparisons, which are used to explain the concepts.

Steven Levitt so aptly brings out the three forms of incentives – economic, social as well as moral. Sometimes these incentives are used to get a desirable positive result and at other times used to deter crimes and negative effects. At other times the existence of natural incentives can tempt people to follow a particular path (can be positive or negative).

The power of possessing the information is amazingly described. “Information is a beacon, a cudgel, an olive branch, a deterrent depending on who wields it and how. Information is so powerful that the assumption of information, even if the information doesn’t actually exist, can have a sobering effect”. What follow after this, is an explicit picture of “information asymmetry” and the role of internet in information dissemination.

The cause-effect issue is well presented. We often mistake the real cause of an effect with something else, something which is quite striking and visible. It may not be always so. The real cause can be much more subtle in nature and much less obvious and decipherable.

The issue of applicability of the conventional wisdom in the dynamic world is neatly challenged through numerous examples.

Quite an interesting reading….exploring the hidden side of everything.

Saturday, March 17, 2007

ROLE OF INDIVIDUALISM

In a B-school, it is important to be aware of a lot of things. In spite of heavy stress on group activities and team spirit, the role of individualism can never be underestimated. One should either remain away from these things or learn how to deal with such things. Some of these things are as follows.

1. Undue hype: There will always be hype with any three letter abbreviation starting with I. (IIT/IIM/ISB). I still keep on wondering what all this hype is about, in spite of being a part of two such institutes. But one thing for sure – this hype originated from the activities of the coaching centers and press...and for their own selfish interests.

2. Indian Press: No one benefits more than the press in creating the crazy b-school placement stories.

3. Unsolicited advices: There will be so many people ready to give you advices. If you start following all the advices you will be so confused in life that you will find yourself in a mental asylum. You are defined by your individualism...and no one understands yourself better than your own individualism.

4. Illogical rumors: At times, rumors seem so real that they become facts and people keep on believing these rumors until the real stuff come out. Anything that sounds illogical is likely to be a rumor, as per my experience.

5. Impractical aspirations: All the above issues (undue hype, Indian Press, unsolicited advices and illogical rumors) can create an environment which is the breeding ground for impractical aspirations. These impractical aspirations create a group of people, who turn out to be amongst the funniest people, I have ever come across. Such people get frustrated in life easily and bring out their frustration in front of the world in a rather disgusting manner. God help such people and let other people live in peace.

MORAL OF THE STORY: Always look things from a wider viewpoint...use your OWN beliefs and sense of practicality. Remain away from frustrated people, unsolicited advices, illogical rumors, undue hype and impractical aspirations.

Thursday, March 15, 2007

COUPLES

Lot of secret love stories unearthed. The number of couples in ISB must be the highest till date. Some of these were huge surprises to the whole campus.

Quite a number of married couples (married before they came to ISB as well as those married during ISB) are planning to enjoy their pre job vacation in some exotic foreign location. There seem to be a rush for the package trips to Europe and East Asia.

Many would-be couples are busy trying to test the compatibility factor.

Quite a number of marriages are scheduled in April and some more in May.

It’s undoubtedly the busiest time for couples.

Wednesday, March 14, 2007

Co2008 COLLABORATIVE BLOG

Co2008 seem to have a great passion for recording their memories before joining ISB. The adjacent blog is the collaborative blog for the Co2008. This also has the links to the individual blogs of the Co2008 as well. One interesting aspect of ISB is that the incoming batch outdo the outgoing batch in almost every aspect of performance - let it be acads or GMAT score or richness of work experience or be it something as trivial as blogging. For those who love to follow the ISB blogs here is the link to this collaborative blog (http://www.isbclassof2008.blogspot.com/).

Monday, March 12, 2007

EVOLUTION OF B-SCHOOL CULTURE

It is quite interesting to see how B-Schools orient themselves. Let me present two examples which presents the evolution of the B-School culture. Before the Enron debacle, not many B-Schools had an explicit stress on ethics as a subject. Soon after the Enron debacle and other corporate frauds that followed, ethics became one of the most important features of any good B-school culture. Ethics became a part of day to day life and things like plagiarism, copyright violations etc. are now treated with severity. Special courses (in ISB we have courses like Business Ethics, Government Society and Business, and Business Law) were introduced into the curriculum, which can enlighten students on the repercussions of unethical business.

Let me both inform and warn the class of 2008, about the Honor Code Committee, which holds the ultimate power to arbitrate when it is perceived that something unethical has happened and the honor code has been violated. Things like plagiarism, copying the assignments, or any exam related unsolicited conduct can be disastrous. Honor Code is for the betterment of the institute. Respect it and remain away from any activity which can lead to breaching of the Honor Code.

Also various social issues are high on the agenda of the leading B-Schools. Business Plans related to social ventures are treated with high respect. Devising strategies to bring the benefits of the industrial resurgence to rural settings (especially in a country like India) are quite important areas of interest. Clubs like Net impact club has been closely linked with such issues and a lot of students are aligned towards a career in nonprofit organizations.

Things keep on evolving and the business school culture is no different. Maximizing profit….maximizing profit in ethical manner….social obligations….things are evolving.

Saturday, March 10, 2007

CAREER CHANGE - A CLOSER LOOK

Before I move ahead into other posts, I thought I should return back to the issue of career change/switches once again. I will like to follow the question-answer way to illustrate on what a career change really is.

What necessarily is a career switch/change?
These kind of switches are normally a switch over to a completely different kind of work profile such that your previous work experience can be of very negligible utility in your new job profile. For instance, moving from hard core manufacturing to the finance part of investment banking. The general skills which a person gained in manufacturing might not be of any utility in the new profile. Under such a situation, it might be difficult to get a lateral profile.

Is switching industries necessarily a career change?
Not necessarily, as many roles in different industries carry the same fundamentals. For instance a shipping person, good in supply chain and operations can easily join the supply chain and operations of an IT or other hi-tech companies. Under such a situation, the skills of the past job are easily transferable to the new role and there exists a lot of respect for the past work experience. A merchant navy captain who joined the operations of the leading hi-tech company in a senior role is an example of such changes. Or a person from iron and steel industry who did the supply chain analysis, joining an IT firm as domain consultant forms yet another example. Such changes should not come under the category of career changes. Other examples are

1. Automobile sector to other manufacturing
2. Supply chain to retail
3. Architect to real estate consultancy
4. Shipping to domain consultant (IT)
5. Mathematics/economics to investment banking
6. CA to investment banking/other aspects of corporate finance
7. Corporate finance to banking and vice versa
8. IT supply chain to manufacturing/retail
9. Hotel to real estate consultancy
10. Media to marketing
11. Shipping to oil/energy/power

This list can be really long.

What are the transferable traits, apart from the typical job related ones?
A lot of companies look for traits other than the normal functional traits and based on these traits allocate fairly senior roles. For instance, an army major who joined a leading consultancy based on his leadership skills, or an energy sector person who joined another consultancy because of his contacts in the industry. Such traits like “leadership” and “seniority ” to get contacts are always in demand. Such traits are always associated with lateral roles even though the skills in the past job may not be directly transferable to the new roles. Normally these are the skills highly respected in the senior management.