One of the favorite questions of many prospective applicants to ISB is “My GMAT score is ____ (around 600), should I apply to ISB with this score?” And the most popular reply for this question is “ISB evaluates the application as an overall package and GMAT score is only one of the ingredients, hence you can apply to ISB”. Nine out of ten people you meet will give the above answer.
I beg to differ on this issue. Actually the way this question is framed is itself self-defeating. When you ask this question to someone you are mentally not prepared to take ‘no’ for an answer and the person who answers this question has no incentive to give you a honest reply (at the risk of not offending you) and hence the obvious choice is, why not take a chance and apply?
My own perspective on this issue is that you and you alone can answer this question honestly. Nobody else. While thinking about this question, please do consider the following aspects:
1. ISB is a very academically demanding course. In a short span of about 50 weeks you would be taking around 32 courses, 60 exams, 200 assignments, amidst attending on an average about 50-60 guest lectures, taking up some independent studies, experiential learning projects, planning an entrepreneurial venture, consulting assignments, b-plan and b-school competitions, professional club activities, networking, placement preparations and attending atleast about 50 parties.
2. ISB follows a relative grading system. Hence your own grade in a course depends on the person who scores best. In a typical ISB batch you will always find student experts in every field. There will always be economics majors, finance experts, quant jockeys, IT veterans, and some people for whom statistics is a hobby (I really find this one very hard to digest). My own batch represents people from over 25 sectors. In a world of relative grading remember that you are competing against these best brains for your own grades.
In the light of the above two points it should be quite evident that ISB is not for the weak hearted. To get into ISB is only a means of achieving something else in life. It is not an end in itself.
Hence to survive in this competitive environment, notwithstanding your other achievements, academic excellence is crucial. It is hence very important for you to ask the question “Is my GMAT score a real reflection of my academic performance?” It may sometime happen that your GMAT score doesn’t truly reflect your abilities. In these cases where you believe that your potential is far higher and that your low GMAT score is only an aberration, either retake the GMAT or please go ahead and apply to ISB by all means. But if you believe that your low score is fairly reflective of your academic performance (be honest), refrain from applying to ISB blindly (notwithstanding what others might say). Concentrate first on fixing this issue and then apply to ISB. Otherwise you might end up giving up more than what you can ever hope to recoup.
P.S: The views expressed here are purely personal. I am sure even amongst the current/ past ISB students, there would be a 1000 other differing views. So be it. That’s what makes life interesting.
Wednesday, August 29, 2007
Saturday, August 25, 2007
Sinister Subsidies
I attended an excellent presentation on WTO conducted by Mr. Shishir Priyadarshi, former officer of the IAS and presently a Director in WTO. He presented us some very interesting perspectives.
For all the hype about India being over protectionist in the WTO negotiations, consider the following facts:
For all the hype about India being over protectionist in the WTO negotiations, consider the following facts:
India's agriculture subsidies averages about 4% of the value of the agriculture goods produced. The comparable percentages for US, EC and Japan ranges about 80%.
US provided agriculture subsidies worth $ 22 Bn last year. 90% of this amount went to 10% of the farmers in US (Because subsidies are given based on the land holdings. Hence, obviously these subsidies reached the richest of the US farmers. It should be noted here that rich farmers in US are a powerful lobby and they contributed about $ 11.5 million during last election towards campaign contributions).
In UK the largest recipient of the agriculture subsidies is THE QUEEN
In Switzerland, a farmer gets an average $ 1600 per year for every cow he owns. (Incidentally, this is more than the per capita income of two thirds of the nations in the world)
In Norway, farmers get subsidies for the hedges they maintain in the rural areas (Optical soothing)
The import tariffs for rice is Japan is more than 1000%.
In Rajnikanth style.... the rich get richer and the poor get poorer...
Friday, August 24, 2007
Ithaka
Today, our entrepreneurship professor ended his class by citing this poem. Its a poem about a man who sets upon a long journey towards his island home - Ithaka.
In a subtler sense each of us are on our journeys to find our own homes (treasures) - wealth, fame, happiness, position, power.. The point is to realize that we get rich not by arriving at Ithaka, but by undertaking the journey to reach Ithaka..
Am reproducing a few lines of this poem below..
"Keep Ithaka always in your mind. Arriving there is what you're destined for. But don't hurry the journey at all. Better if it lasts for years, so you're old by the time you reach the island, wealthy with all you've gained on the way, not expecting Ithaka to make you rich.
Ithaka gave you the marvelous journey. Without her you wouldn't have set out. She has nothing left to give you now.
And if you find her poor, Ithaka won't have fooled you. Wise as you will have become, so full of experience, you'll have understood by then what these Ithakas mean. "
You can read the full poem at
"http://homepage.newschool.edu/~wrightd/cavafy-ithaka.html"
In a subtler sense each of us are on our journeys to find our own homes (treasures) - wealth, fame, happiness, position, power.. The point is to realize that we get rich not by arriving at Ithaka, but by undertaking the journey to reach Ithaka..
Am reproducing a few lines of this poem below..
"Keep Ithaka always in your mind. Arriving there is what you're destined for. But don't hurry the journey at all. Better if it lasts for years, so you're old by the time you reach the island, wealthy with all you've gained on the way, not expecting Ithaka to make you rich.
Ithaka gave you the marvelous journey. Without her you wouldn't have set out. She has nothing left to give you now.
And if you find her poor, Ithaka won't have fooled you. Wise as you will have become, so full of experience, you'll have understood by then what these Ithakas mean. "
You can read the full poem at
"http://homepage.newschool.edu/~wrightd/cavafy-ithaka.html"
Monday, August 20, 2007
Chasing the horizon
As a part of the Independence day celebrations we had an event titled "Bandhan" at ISB. This event basically brought together many children from various NGOs in Hyderabad to ISB. Most of these children are specially-abled. During the first part of the event we (the students) had organized various fun events for these children to make them feel special. The second part of the event was these children's turn.
One event which deeply touched me was a dance program by a group of 6 boys. They were dancing to the beats of a popular fast tune and It was exceptional. The coordination was supreme. Though it was a group dance, within that limited time frame of about five minutes, each of the boys had a specific time slot to showcase their individual talent as well, when they danced solo.
As the dance came to a close, we heard an announcement on the stage that these boys who just performed are actually visually challenged. I just could not believe this when i heard it. There were a thousand questions which arose in my mind... How could someone coach them? How could these people visualize something they have never seen and implement it with perfection? How could they achieve that coordination? What could these people have achieved had they been gifted with a sight like ours?
I do not know the answers... i may never know. But John Milton's quote clearly flashed in front of my eyes "The mind can make a heaven out of hell or a hell out of heaven".
All limitations are perceived horizons. The secret is that the mind is limitless, and that we truly have no limits except those that we have accepted as real. David Cameron puts it nicely when he says "It is all just a horizon, and no matter how much you chase the horizon, you will never fall off the end of the earth. So chase it!"
One event which deeply touched me was a dance program by a group of 6 boys. They were dancing to the beats of a popular fast tune and It was exceptional. The coordination was supreme. Though it was a group dance, within that limited time frame of about five minutes, each of the boys had a specific time slot to showcase their individual talent as well, when they danced solo.
As the dance came to a close, we heard an announcement on the stage that these boys who just performed are actually visually challenged. I just could not believe this when i heard it. There were a thousand questions which arose in my mind... How could someone coach them? How could these people visualize something they have never seen and implement it with perfection? How could they achieve that coordination? What could these people have achieved had they been gifted with a sight like ours?
I do not know the answers... i may never know. But John Milton's quote clearly flashed in front of my eyes "The mind can make a heaven out of hell or a hell out of heaven".
All limitations are perceived horizons. The secret is that the mind is limitless, and that we truly have no limits except those that we have accepted as real. David Cameron puts it nicely when he says "It is all just a horizon, and no matter how much you chase the horizon, you will never fall off the end of the earth. So chase it!"
Tuesday, August 14, 2007
Class Participation
Almost every ISB student writes about this phenomenon in his blog. Its now my turn.
As part of the ISB grading system, student participation in class discussions carries marks and affects the final grade. The weightage varies from subject to subject. This system has been kept in place to ensure that the students come adequately prepared for class and also benefit from the views and experience of peers in the class. However, what actually translates is quite different. People in their enthusiasm to score some CP points make all sorts of comments. I have thus classified people into the following nine categories.
1. Commonsensical Point: This league of extraordinary gentlemen camouflage mere commonsensical points into brilliant works of art. They tend to take even rhetorical questions very seriously and carefully enlist their response
2. CraP: This group's only aim is to make sure that their voice is heard in the class. It is not of much relevance to them to think, if it makes sense..
3. CoPied: Brilliant imitators. Borrow ideas from others, but not words. Shrewd listeners who will be quick to borrow an idea, para phrase/ re-phrase/ cut/ edit/ add but essentially maintain the chastity of the soul and give out the same point..
4. Continuous Pain: Intellectual masturbaters. Their sole aim is display their knowledge. The problem is, they dont bother if it is relevant in the current context.
5. Crossed Past: They dont have any genuine point, nor can they display their knowledge (or the lack of it), but still they have a tremendous desire to participate in the class. So they end up asking questions which the professor has just answered. They however try to mask their intentions by keeping a seriously concentrated face which reads "genuine doubt". Fall not into this trap, for less than 10% of this group is genuinely interested in hearing the answer to the question, for the rest "asking the question" is an end in itself..
6. Chronically Pointless: They dont mind taking a ridiculous stance, questioning fundamental concepts or even making up impossible hypothetical situations, as long as it promises some "airtime" in the class
7. Calling Professor: They miss their chances to grab the professor's attention to make their point. So, when their impatience reaches a peak and they become desperate to make their presence felt, they call out the professor and camouflage their comments as questions/ doubts
8. Curtain Puller: Take a peek at the next slide and base your question/ comment on them and try to pass them off as intelligent remarks
9. Class Participant: It is this small but sensible proportion of the population that actually understands the true spirit of CP and genuinely tries to contribute towards the learning and development of the entire class...
As part of the ISB grading system, student participation in class discussions carries marks and affects the final grade. The weightage varies from subject to subject. This system has been kept in place to ensure that the students come adequately prepared for class and also benefit from the views and experience of peers in the class. However, what actually translates is quite different. People in their enthusiasm to score some CP points make all sorts of comments. I have thus classified people into the following nine categories.
1. Commonsensical Point: This league of extraordinary gentlemen camouflage mere commonsensical points into brilliant works of art. They tend to take even rhetorical questions very seriously and carefully enlist their response
2. CraP: This group's only aim is to make sure that their voice is heard in the class. It is not of much relevance to them to think, if it makes sense..
3. CoPied: Brilliant imitators. Borrow ideas from others, but not words. Shrewd listeners who will be quick to borrow an idea, para phrase/ re-phrase/ cut/ edit/ add but essentially maintain the chastity of the soul and give out the same point..
4. Continuous Pain: Intellectual masturbaters. Their sole aim is display their knowledge. The problem is, they dont bother if it is relevant in the current context.
5. Crossed Past: They dont have any genuine point, nor can they display their knowledge (or the lack of it), but still they have a tremendous desire to participate in the class. So they end up asking questions which the professor has just answered. They however try to mask their intentions by keeping a seriously concentrated face which reads "genuine doubt". Fall not into this trap, for less than 10% of this group is genuinely interested in hearing the answer to the question, for the rest "asking the question" is an end in itself..
6. Chronically Pointless: They dont mind taking a ridiculous stance, questioning fundamental concepts or even making up impossible hypothetical situations, as long as it promises some "airtime" in the class
7. Calling Professor: They miss their chances to grab the professor's attention to make their point. So, when their impatience reaches a peak and they become desperate to make their presence felt, they call out the professor and camouflage their comments as questions/ doubts
8. Curtain Puller: Take a peek at the next slide and base your question/ comment on them and try to pass them off as intelligent remarks
9. Class Participant: It is this small but sensible proportion of the population that actually understands the true spirit of CP and genuinely tries to contribute towards the learning and development of the entire class...
Saturday, August 11, 2007
The boy who lived
This is one of the greatest business phenomenon of our times. For those "muggles" who still couldn't make meaning of the title, i am talking about Harry Potter. Consider the numbers... More than 325 million copies of the first 6 books of this series is sold world over. The seventh installment, which was released last month in more than 93 countries, sold 11 million copies within the first 24 hours of its release.The books have been translated in about 65 languages and is distributed in 200 countries. The five movies released till date have grossed more than $ 4 billion.
I read a nice article which summarized the reasons for the grand success of this series. The article traces five basic reasons for its success - 1. Its not just a children's story, it crosses several boundaries and appeals to the interests of numerous categories of people. 2. JK Rowling's exceptional writing 3. It has chosen a subject which is universally alluring 4. It brings to life all our fantasies, everything we always wanted to be, but never can be.. 5. Its social relevance..
JK Rowling's present networth is estimated to be more than $ 1 billion. Not bad for someone who was unemployed and living on State benefits, when she completed her first book.
What fascinates me the most is the way it all started. Rowling says "It all began on a train ride in which the whole idea just dropped in my head. Harry, as a character, came fully formed as did the idea for the entire plot".
I call this a gift of god...
I read a nice article which summarized the reasons for the grand success of this series. The article traces five basic reasons for its success - 1. Its not just a children's story, it crosses several boundaries and appeals to the interests of numerous categories of people. 2. JK Rowling's exceptional writing 3. It has chosen a subject which is universally alluring 4. It brings to life all our fantasies, everything we always wanted to be, but never can be.. 5. Its social relevance..
JK Rowling's present networth is estimated to be more than $ 1 billion. Not bad for someone who was unemployed and living on State benefits, when she completed her first book.
What fascinates me the most is the way it all started. Rowling says "It all began on a train ride in which the whole idea just dropped in my head. Harry, as a character, came fully formed as did the idea for the entire plot".
I call this a gift of god...
Tuesday, August 7, 2007
Ultra Super Hyper Salesmen
I have many times thought about "What constitutes an effective sales call?". And the answer is pretty obvious.. "The Sales".. If a sales call cannot be converted into sales then it is useless. Now comes the more difficult part. In a world where time is increasingly becoming more precious, and where people are willing to shell out large sums of money (Eg..fast food, home deliveries, Internet banking, air travel etc..) to maximize their Return On Time Invested (ROTI, as one of my previous bosses used to say), the effectiveness of a sales call cannot be overemphasized.
The attention span of customers is becoming increasingly shorter. Which means the time available for you to convince your client and make a sale is increasingly becoming small. It is hence very very important to deliver your best in each second that you spend with your client. People who are best at this are called Ultra-Super-Hyper Salesmen (A term i have coined :-)
I know of at least one group of people who are best at this - The beggars who stand in traffic signals. Imagine their plight. Their maximum window of opportunity is about 45-60 seconds. They have to cater to multiple clients within this time frame. No office, no air conditioning, no mobile, no handouts to help them in their sale, not even a chair to sit and many times an empty stomach too...
But they cannot afford to take no for an answer, because for them no sale means no food. They try to understand their customer's psychology and use every weapon in their armour to convert each of their interaction into a sale. Within the first few seconds they assess what sort of a customer you are, and then they come out specific techniques to cater to each of these types. And with my limited experience, i must say that their conversion ratios are at least more than 75%, if not higher. A pretty impressive feat, given the constraints...
I salute these Ultra-Super-Hyper Salesmen and hope to learn some transferable techniques...
P.S: This analysis is purely from a sales process point of view. I request readers to take it in the same spirit and not bring social issues into the picture.
The attention span of customers is becoming increasingly shorter. Which means the time available for you to convince your client and make a sale is increasingly becoming small. It is hence very very important to deliver your best in each second that you spend with your client. People who are best at this are called Ultra-Super-Hyper Salesmen (A term i have coined :-)
I know of at least one group of people who are best at this - The beggars who stand in traffic signals. Imagine their plight. Their maximum window of opportunity is about 45-60 seconds. They have to cater to multiple clients within this time frame. No office, no air conditioning, no mobile, no handouts to help them in their sale, not even a chair to sit and many times an empty stomach too...
But they cannot afford to take no for an answer, because for them no sale means no food. They try to understand their customer's psychology and use every weapon in their armour to convert each of their interaction into a sale. Within the first few seconds they assess what sort of a customer you are, and then they come out specific techniques to cater to each of these types. And with my limited experience, i must say that their conversion ratios are at least more than 75%, if not higher. A pretty impressive feat, given the constraints...
I salute these Ultra-Super-Hyper Salesmen and hope to learn some transferable techniques...
P.S: This analysis is purely from a sales process point of view. I request readers to take it in the same spirit and not bring social issues into the picture.
Saturday, August 4, 2007
Pursuit of leadership
Today, one of our professors gave a very interesting definition of business leadership... It goes as follows: "All business leadership is about chasing perpetually changing perpetually vanishing arbitrage opportunities".. I liked this definition of business leadership because this brings many other things to perspective.
First of all this connotes that business leadership is a journey and not a destination. To be on the top of the ladder requires one to continually seek newer and emerging opportunities. To understand emerging trends and opportunities, while it is necessary to have a bird's eye view of the entire landscape, it is not sufficient. You should also have your feet on the ground to feel the pulse of the market. Possessing only one of these attributes may lead us to either taking a myopic view of opportunities or in just missing out the details.
Secondly, every opportunity vanishes or runs out of steam some day. We necessarily don't need to take a very long term view of opportunities to profit from them. Every opportunity needs to be evaluated as an investment and this means weighing cost vs. benefit. We should be indifferent while weighing short and long term opportunities, if the ratios of cost versus benefit are the same.
Some people may not necessarily subscribe to this view of placing short term opportunities on an equal footing with long term opportunities. Fair enough. But what is long term? Remember what Keynes said "In the long run we are all dead"...
First of all this connotes that business leadership is a journey and not a destination. To be on the top of the ladder requires one to continually seek newer and emerging opportunities. To understand emerging trends and opportunities, while it is necessary to have a bird's eye view of the entire landscape, it is not sufficient. You should also have your feet on the ground to feel the pulse of the market. Possessing only one of these attributes may lead us to either taking a myopic view of opportunities or in just missing out the details.
Secondly, every opportunity vanishes or runs out of steam some day. We necessarily don't need to take a very long term view of opportunities to profit from them. Every opportunity needs to be evaluated as an investment and this means weighing cost vs. benefit. We should be indifferent while weighing short and long term opportunities, if the ratios of cost versus benefit are the same.
Some people may not necessarily subscribe to this view of placing short term opportunities on an equal footing with long term opportunities. Fair enough. But what is long term? Remember what Keynes said "In the long run we are all dead"...
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