5 things B-schools don’t teach!

Stepping out of B-school into the real world is like learning golf from manuals, or like teaching yourself cricket online. You have all the required theoretical inputs; a clear understanding of the rule book, the jargon and concepts; a dash of history to boot; and anecdotes and trivia as fillers.As this package comes in contact with reality, it goes through a range of emotions, starting with denial, wrath, angst, confusion, wonder, and finally settles into pragmatism, with bouts of nostalgia and a few clear learnings that are far removed from what the rule books preached.

The moral of the story: the real world teaches you some home truths that academia does not touch upon. In our journey down the road of experience, some of them get etched as gospels. If I were to pick a few of them, and share them here, they would be:

1. Brevity:

All the case studies, presentations, analysis and concept notes do not prepare you for the first reality of life. The world does not give you the opportunity to expound on theories over a 40-page Word document, or a 120-slide PowerPoint presentation.

In most real life situations, you get a tiny window in which you need to make your point, in as impactful a manner as possible. The more august the audience, the shorter the time.

From 10-second one-line summaries, to elevator pitches, to one paragraph e-mail, you need to cultivate the habit of being concise. There are no second opportunities in a real-time scenario.

Keeping that in mind, all your thinking needs to be crystallised and constantly carried around, to capitalise on the opportunity.

The clearer the thinking, the easier it is to say it succinctly. I would like to see the day when we put tight leashes around time, space and resources, and start recognising and appreciating brevity as a virtue in academics, instead of letting duration, length or aesthetics drive judgement.

2. People skills:

Real life is about real people. It involves dealing with diverse personalities, cultural backgrounds and competencies that you do not normally encounter in B-school. The challenge is, thus, compounded and you often see stars of academia unable to deal with this core reality.

Working with, dealing with, and successfully arriving at mutually beneficial and satisfactory decisions on a day-to-day basis is what the real world teaches you — sometimes harshly.

Understanding, communication and appreciating someone else’s point of view is difficult. It is seldom as the books expound, a clear rational process aided by the theories of people management.

3. Execution:

In B-school, all that you learn is from books, periodicals, case studies, which do not prepare you for the biggest differentiator in the real world: the ability to execute.

Perhaps the most understated competency needed, it hits you between the eyes the first time you try to execute a plan, a project or a campaign.

The various parameters you deal with and the fickle nature of the elements are not issues you think about in B-school.

The need to plan with buffers, with alternatives, and the need to keep an eye on the ball at all stages of execution, cannot be overemphasised.

Unfortunately, in our desire to move ourselves up the knowledge curve, there is a propensity to take this skill for granted, and most management programmes don’t expose you to this harsh reality.

4. Dealing with failure:

Learning to live with failure is another of those often not realised truths. In the real world, we are constantly dealing with the fact that not all decisions, activities, interactions, strategies, or communication translate into success.

My favourite saying is that learning comes from experience and good learning from bad experience. But no B-school teaches you to take failure in your stride.

More often than not, there is enough time to mull over a failure or even lick your wounds. Facing it with grace and bracing yourself for the next set of decisions or actions is what the real world is all about.

We will still deal with the same environment where we failed; at times, lead the same team that could not pull it off, have the same limited facts and figures and information; and more importantly, yet have the same objectives to achieve. It can be a humbling experience, which no education with books or classrooms can simulate.

Dealing with failures is paramount. Otherwise, a propensity to shy away from decision and action for fear of failure can easily become a self-fulfilling prophecy.

5. Multi-tasking:

This is probably the most common, yet the most demanding task. Unlike academics, more often than not, executives have to deal with the very real implications of their ability or inability to multi-task.

Financial, organisational and people implications are the riders we contend with. On a day-to-day basis, the ability to multi-task, yet prioritise and drop a few tasks and live with the implications is something no classroom can teach in its entirety.

To quickly estimate the impact, segregate the critical, handle them with speed and calm, constantly scan the environment for changes, and build them into your thoughts and actions as you go through the day, is an experiential learning.

Add to this the fact that often, the information available is scant or incomplete, there are always a few angles no one knew about, the unpredictability of people we are dealing with — and your hands are more than full. In hindsight, vision is often 20-20, but reality is not.

B-schools do give you an understanding of the tools, aids and theories with which you need to arm yourselves, but where they fall short is in correctly teaching the application and the virtues of experiential learning.

- Raj Raman (senior vice president, sales and marketing, Prudential ICICI AMC Ltd. He
graduated from the Indian Institute of Management, Bangalore
.
)

Technorati Tags: ,

Steve Job’s Speech in Stanford Ceremony

This is an amazing speech by Steve Jobs in Stanford University’s graduation ceremony!

very inspirational speech.. a MUST watch


Technorati Tags: , ,

Posted in Video. 3 Comments »

Announcement : New Feature

after getting very good response from all the readers… I thought to add some new features to my blog

 New Theme  : Installed new 3 column them for better look
 
 New Video Category : in this category I will post some interesting videos
                                  from   Google Video and YouTube
 
 E-mail Subscription  :  Now you can subscribe thru E-mail to this blog. you will
                                 get notification whenever new post made to this blog

 Feedback & Suggestion :  Now you can give your feedback or any kind
                                      of  suggestion you want to give about this blog..
                                      check out Feedback & Suggestion page for more details

Enjoy :)

Posted in General. Comments Off

Professional Blogging

Try blogging your way to millions

Here’s a job that will make you want to rewrite your job description. If you’re in the mood to earn a six-figure salary by sitting at your computer and writing about your life, here’s how to do it.

Imagine a job where you can roll out of bed and climb back in just as quickly to start working. Okay it’s not that kind of job! Welcome to the world of Amit Agarwal, one of the few professional bloggers in India. He may not blog from bed, but the only muscle he uses is between his ears and he’s got a job that gives him the kind of freedom most of us dream of.

Agarwal started blogging two years after quitting his job at a software company and he now earns several lakhs a month. So, how does Agarwal make his millions from www.labnol.blogspot.com. It started as a technology blog where you’ll now find everything from ways to get free Windows Vista DVDs shipped to you to creating portraits from your DNA samples. Not the kind of stuff that makes it to the newspapers but just the kind of stuff that more than a million people want to read every month, and these visitors also help him make money.

Professional blogger, Amit Agarwal told CNBC-TV18, “People click on the advertisements, they go to the advertisers website and I make money out of it. Then there are also ads that don’t have to be clicked to make an impression. I also get sponsors who would like to put ads on my blog.”

Working from home, figuring out your own schedule, sounds like the perfect job doesn’t it? But before you give up your day job to become a professional blogger, here are a few things you should do. Agarwal warns, “It’s a very risky business, make sure you have a fall-back plan.”

According to Agarwal, if you want to rewrite your career, you need to be original, post regularly, be consistent with your content and be patient. Agarwal says his blog only started making money after about a year. If you think you can post 5-7 times a day and work 12-hour days, but you want a little something extra to give you an edge, then you could copy Agarwal and nickname your kid Google!

Source : Moneycontrol

Technorati Tags:

Posted in Video. Comments Off

How to become a billionaire !!!

some time ago, I saw the Forbes’ rich list. It has always been wonderful to read about the successful juntas across the world. I explored web world to find out some facts and trivias about these billionaires. I picked names of the top 200 guys, and I couldn’t stop my analytical skills to get something interesting facts that was unknown to me before

             

Facts behind Top 200 Richest People across the World

The findings are divided into 4 categories (no more, I guess)…. Educational Background, Age group, Professions, and the source of Fortune.

Education

 
I. Drop Outs

1. Total number is 17 (out of 200)
2. “Microsoft” rulez…as its 2 founders and CEO, all 3 are dropouts.
3.  6 (from17) are from “IT industry” and have founded the best companies
    of  sillicon valley, viz-a-viz, Microsoft, Dell, Apple, and Oracle.
4. After IT, 5 are in “investments” and 4 have acquaintance
    with “media/entertainment” industry.
5. 5 were dropped out after studying hign schools.
 
II. Study-Area

1)  25   —– MBA (Master of Business Administration)
2)  101 —– Bachelor’s degree (Arts/Science)
3)  9     —– Master of Science
4)  18   —– Doctorate
5)  12   —– High School
6)  1     —– Medical Doctor
 
III. Study-Location
 
1)  77 have completed their education in “United States(US)”
2)  10  —– Harvard University
3)  9    —– Stanford University
4)  5    —– Yale University
5)  4    —– Massachusetts Institute of Technology; University of Texas-Austin
6)  3    —– Columbia University; Princeton University

Age-Group

 
30-40     —–  14
40-50     —– 40*
50-60     —– 26
60-70     —– 43*
70-80     —– 39
80-90     —– 27
90+        —– 5

I. Geographic Distribution

If we pick the list of top-200 and take the countries having more than 5 billionaires in the top-200 list—

Country              Average Age     No of Billionaires(out of 200)
Russia                     46                              21
India                       56                               8
Saudi Arabia             56                               8
Canada                    58                               7
United States           65                               66
Japan                      69                                7
Germany                  70                               22
France                     71                                6
Sweden                   72                                5
Hongkong                78                                8

  • The youngest breed of billionaires came from Russia. India, Saudi Arabia, Canada, and US are successors.
  • United States(66) has the largest number of billionaires. The others in the list are Germany(22) and Russia(21)
  • The software and technology industry has the lowest average age — 53 yrs

II. Age below 50 and Professions

Total                                                   53
Software and Technology                       10
Oil/Gas                                                 8
Mining/Lumber                                       6
Manufacturing                                        4
Finance, Diversified(each)                        3
Investments, Pharmaceuticals(each)          2

Professions

 
Software & Technology       22
Retailing                          19
Manufacturing                   17
Media/Entertain                 17
Oil/Gas                            17
Finance                            15
Real Estate                      13
Investments                     12
Diversified                        12
Mining/Lumber                    9
Pharmaceuticals                  7
Food                                  6
Apparel                              5
Service                               5
Engineering/Construction      5
Beverages                          4
Gambling /Leisure               4
Shipping/Transport              3
Communications                 2

  • In the list of 21 Russian richest juntas, 9 are from Oil/Gas industry and 7 are from Mining industry
  • In the list of 22 richest juntas fro Software & Technology industry, 13 are from US and 3 are from India
Fortune

 
Self-made                         117
Inherited & Growing            43
Inherited                           40
 

  • Most self-made billionaires come from the age group of “Below 50″ —> 43

Suggestions …….. 2 become a billionaire

1.    Drop your education or make a situation to be dropped out and start a
       career  in Software/ Technology or Investments. and try to
       make  acquaintance with media industry

2.    Study in United State.

3.    Do MBA

4.    Must complete your bachelor’s degree

5.    Go to Harvard/Stanford

6.    If ur age is below 50, u have more chances; otherwise u’ll have to wait
       until 60.if crossed 80 or 90… u r having least chance

7.    Don’t stare at the records and leave the plan to move Russia.
       all young juntas made money in the 90’s

8.    Young juntas move to India, Saudi Arabia, and Canada or US.
       old juntas go to Japan, Germany, France, and Sweden.

9.    Software & Technology industry has more chances. for young juntas and
       for gonna-be-self-made-billionaire-juntas

10.   If u can find Time-machine somewhere, make sure u move to Russia,
       15 years back, and being placed in oil/gas or mining industry.

11.   Otherwise……..be dropped out after ur high schools

12.   Never go to Denmark/Colombia and start Agriculture/Chemical company.
        u’ll hv to wait until u become 90.

And take my wishes to make an entry in the list……..
Cheers!!!!!!!!!!!!!  :)

Birth of Virgin Atlantic

The following speech by Richard Branson (at the 4th Madhavrao Scindia Memorial Lecture) proves my point; the situation he found himself in could have been that of ANYONE of us, in fact, there were a number of people who were in the same situation. Only, he decided to look for a solution.

“In ’79, when Joan, my fiancee and I were on a holiday in the British Virgin Islands, we were trying to catch a flight to Puerto Rico; but the local Puerto Rican scheduled flight was cancelled. The airport terminal was full of stranded passengers. I made a few calls to charter companies and agreed to charter a plane for $2000 to Puerto Rico. Cheekily leaving out Joan’s and my name, I divided the price by the remaining number of passengers, borrowed a blackboard and wrote: VIRGIN AIRWAYS: $39 for a single flight to Puerto Rico. I walked around the airport terminal and soon filled every seat on the charter plane. As we landed at Puerto Rico, a passenger turned to me and said: “Virgin Airways isn’t too bad – smarten up the services a little and you could be in business.”

That, my friends, is how VIRGIN ATLANTIC began!! Can you believe it? A mad hatter’s flight was cancelled, and look what he came up with.

He goes on to add: “When VA was launched in ’84, not one person thought it would survive for more than a year. The bosses of these 13 big American airlines, that we competed with, said we’d fail. Now 21 years later, all 13 of them are out of business – proving the number 13 is unlucky for some.”

Wow. What a guy!!

“I stand at the end of no tradition. I may,perhaps stand at the beginning of one.”   - Richard Branson

Technorati Tags: ,

Happy Holidays

Winter, the most intimate of seasons, is here: Let’s enjoy it. :)
The first two stage on our way to Spring are drawing near.

Marry Christmas and a Happy New Year to all.

Posted in General. 1 Comment »
Follow

Get every new post delivered to your Inbox.