Rank. Institutes
1. IIM-A
2. IIM-B
3. IIM-C
4. SIBM Pune
5. IIM-L
6. XLRI
7. JBIMS Mumbai
8. IIM-I
9. ICFAI Hyderabad
10. FMS Delhi
(Source: Business Today Edition - July 13, 2008)
Saturday, July 5, 2008
Friday, July 4, 2008
Subprime hits IIM intern intake too
MUMBAI: The subprime crisis seems to have spread its reach to the IIMs as well. Being a student at one of the premier B-schools might have meant getting an easy entry with big companies for summer internships, but the 2007-09 batch had a slightly tougher time. Major financial companies, that recruited from the various IIMs, took in less number of students this year. Lehman Brothers, which recruited 17 students last year from IIM-A, picked up only 15 this year. In a similar trend, Merrill Lynch which picked up 14 last year, took in one less this year.
At IIM-B, Lehman recruited 13 students this year when compared to 17 last year. Merrill Lynch picked up 10 students this year, five less from previous year. Both these firms have been badly effected by the ongoing crisis in the global markets. Lehman cut over 1,300 jobs while Merrill Lynch laid off more than 1,100 people. Incidentally, global firms such as Goldman Sachs, HSBC, Deutsche Bank and JP Morgan, which have not been severely effected, have increased their intakes this year.
Consulting firms McKinsey, Bain and AT Kearney also recruited less this year. Last year, their combined intake was 11 while this year, it stood at eight. In a sector-wise break up of summer internships, the intake by the financial sector dropped from 57% last year to 35.9% this year at IIM-A. Consulting and marketing, however, increased from 17% and 14%, to 22.4% and 20.5%, respectively. PE firms like Blackstone, Temasek Holdings, ChrysCapital, Greater Pacific Capital and Sabre Capital made the most of this and recruited a number of students from B-schools.
IIM-B placements chairman Sourav Mukherji, however, does not read too much into this. He says, “The placement interviews are done in November of the previous year. There are always fluctuations. During the placements they did not mean much, but if you are to look at the numbers now, it might seem like a change.”
The industry, according to him, was forecasting a downturn and with no recoveries from the mortgage crisis and people hedging, intern numbers were marginally down for some companies but overall there was no change in summer placements. Incidentally smaller Indian companies seem to have been benefited by the global turmoil in the markets.
Indian I-banking firms like Edelweiss, Kotak, Mape Advisory, Enam Securities and ICICI Securities took in more than 25 people from IIM-B alone. Smaller companies like Angel Trade, Lodha Group and NIIT were also some of the recruiters at the IIMs this year.
Leaders must have the vision, passion and integrity: Dr APJ Abdul Kalam
This is one MBA commencement speech that will perhaps be without a parallel for some time to come.While most other B-schools invited corporate honchos to inspire fresh batch of MBA students, Delhi University’s Faculty of Management Studies (FMS) got none other than the former President of India and a respected thought-leader Dr APJ Abdul Kalam to ignite young minds.
Dr Kalam, while inaugurating the academic session 2008-10, delivered a 90 minute lecture for the FMS students. His address titled ‘The Nation and the Dynamics of Leadership’ focused on leadership development, importance of integrity and character-building, and India’s challenges and opportunities in next decade.
Emphasising the importance of leadership development in young MBAs, Dr Kalam offered his eight commandments. He said:
1. Leader must have a vision.
2. Leader must have a passion to transform the vision into action.
3. Leader must be able to travel into an unexplored path.
4. Leader must know how to manage a success and failure.
5. Leader must have courage to take decision.
6. Leader should have Nobility in management.
7. Every action of the leader should be transparent.
8. Leader must work with integrity and succeed with integrity.
Dr Kalam recommended three books to MBA students which he said would help students discover themselves and follow their goals. The books are:
- Michael A Roberto: “Why great leaders don’t take yes for an answer?” “This book discusses managing for conflict and consensus. Particularly read page 233-235, the essence of the book is “Great leaders, of course, behave as great teachers”, said Dr Kalam.
- Stephen R. Covey (Author), David K. Hatch (Author): “Everyday greatness” “This book will give how the difficult social problems have been encountered and defeated through leadership and message of unity – coming together is beginning, keeping together is progress, working together is success,” noted Dr Kalam.
- Denis Waitley: “Empires of the mind”
Drawing on details from “Empires of the mind”, Dr Kalam highlighted the “paradigm shift” in management concept in the knowledge society. The authors have taken 10 aspects of the knowledge society of the present 21st century and visualize how it will be. It specially says that “what worked yesterday, won’t work today”. The 10 aspects of change are:
1. Yesterday – natural resources defined power
Today - knowledge is power
2. Yesterday - Hierarchy was the model
Today- synergy is the mandate
3. Yesterday – leaders commanded and controlled
Today – leaders empower and coach
4. Yesterday - shareholders came first
Today – customers come first
5. Yesterday - employees took order
Today – teams makes decision
6. Yesterday - seniority signifies status
Today – creativity drive status
7. Yesterday – production determined availability
Today – quality determines demand
8. Yesterday - value was extra
Today – value is everything
9. Yesterday – everyone was a competitor
Today – everyone is a customer
10. Yesterday - profits were earned through expediency
Today – profits are earned with integrity.
Dr Kalam added that while he agreed with most of the analysis offered by the book, he also has some different point of views. Said Dr Kalam, “I have analyzed 10 points, many aspects I agree, few I do not agree like point number 7 and 10. The 7th point, my view is, “competitiveness is the key which includes quality, cost effectiveness and just-in time delivery”. In 10th point, my view is, “Work with integrity and succeed with integrity”.”
Upholding the premise of the book, Dr Kalam added, “Japan has very limited natural resources. It imports iron ore and process produces the best of steel competitively for sale international market. Similarly, Finland has very limited resource. Nokia has attained global status and is producing major share of mobile phones for the international market. This shows that knowledge is power!”
Recounting his conversation with IT czar Azim Premji, Dr Kalam said, “After a visit to his establishment, I asked Azim Premji, “Azimji, your organisation and yourself have attained new heights and you are well known throughout the world. Can you tell me the secret of your success?” Premji said, “First, the sweat. Second, I love to delight my customers. Third, a bit of luck.” Dr Kalam added, “I personally feel that the luck will not come unless one works for the first two!”
As is well known, born on 1931 in Tamil Nadu, Dr. A P J Abdul Kalam, specialized in Aeronautical Engineering from Madras Institute of Technology. Dr. Kalam made significant contribution as Project Director to develop India’s first indigenous Satellite Launch Vehicle (SLV-III) which successfully injected the Rohini satellite in the near earth orbit in July 1980 and made India an exclusive member of Space Club. He was responsible for the evolution of ISRO’s launch vehicle programme. He led to the weaponisation of strategic missile systems and the Pokhran-II nuclear tests in collaboration with Department of Atomic Energy, which made India a nuclear weapon State.
In his literary pursuit four of Dr. Kalam’s books - “Wings of Fire”, “India 2020 - A Vision for the New Millennium”, “My journey” and “Ignited Minds - Unleashing the power within India” have become household names in India.
Dr. Kalam became the 11th President of India on 25th July 2002. His focus is on transforming India into a developed nation by 2020.
The young minds at FMS Delhi couldn’t have asked for a better start to their MBA pursuits!
Dr Kalam is the honorary adjunct faculty member of the Faculty of Management Studies, Delhi and has been associated with FMS for a year.
Wednesday, July 2, 2008
Game for an online MBA?
NEW DELHI: With the advent of the Internet and advancements in technology, schools have realised the importance of online education. In order to cater to working professionals, who don’t have the time to attend a full-time MBA programme, many schools have started offering online programmes.
Online MBA is an excellent option for working students: you can pursue an MBA and take up specialisations such as finance, marketing, international business, etc.
“One important benefit and difference between an ordinary MBA and an online MBA is the asynchronous sessions. When you have the time, you follow the forums and appear for the exams. Also, the opportunity to review classes and discussions several times is extremely valuable. This is the only way for many managers to do an MBA, and of course valuable for participants in different time zones. The challenge is to ‘virtually’ put your personality, skills and knowledge, and network across. Also you need more cross-cultural and social skills in order to succeed on the Internet; words are more apparent when written online,” says Sara Sjogren, a Swedish student pursuing an online MBA at IE Business School.
Tuesday, July 1, 2008
ISB scouts for more intl students
The Indian School of Business (ISB), Hyderabad, rated 20 in the global B schools league this year, is now looking to tap new markets - in terms of both student intake and companies that come for campus recruitment.
Towards this, the B-school is planning to conduct road shows in Moscow, Paris, Madrid, Zurich, and Milan among others in Europe. It is also visiting Australia for the first time this year in July.
Apart from these, it is also focusing on West Asia, particularly Dubai, where there is a high concentration of NRIs and international students.
Speaking to Business Standard, VK Menon, senior director (admissions and financial aid and career advancement services), ISB, said the institute was looking to tap new markets as it would increase the intake from the present 440 to 560 for the class 2010 (the admission will begin in 2009).
The exercise is in line with the efforts to have “a truly international mix of students.”
This year, at least a third of the batch comprises NRIs. There are 20 international students.
“We are looking to double the international students strength,” he said. The outreach programmes started three years ago but are now being pursued with renewed vigour due to the international ranking, he said.
The number of international offers is expected to increase to 150 for this batch from 110 in the last academic year, which saw as many as 60 companies from 23 countries.
According to Menon, ISB will also explore the Asia Pacific countries. There are students in Singapore, Thailand and Malaysia, who have academic qualifications and are looking for a value-addition to their careers. It will also conduct similar programmes in the neighbouring countries - Sri Lanka, Nepal and Bangladesh.
“We will foray into the Chinese market gradually,” he said, adding some companies there too had shown interest in the ISB students.
The US, however, will remain a potential market. “The US, which has a large chuck of students is an important market,” he said, adding the H-1B visas though are a problem with the US companies.
Nevertheless, a significantly number of US-based companies offer employment to the ISBians. The admission process would be the same for all students except that the international students would be given more time to apply.
“We expect at least 1,500 students to apply for the ISB after we conduct the information sessions,” Menon said.
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