A practical experience in a particular business will definitely be of immense help for a starter. However, if you do not have such experience, then try and get some in any practical activity related to your product, or similar products. Collect as much information as possible before you launch your business.
B-Schools are increasingly roping in a number of younger and lesser-experienced MBA aspirants.Ross Geraghty delves deeper into this trend while mentioning that it is still advisable to gain considerable work experience before enrolling for a business programme. Unlike for most educational courses, for an admission to an MBA course,a minimum of three years of work experience in a managerial role is crucial. This figure can be higher in some cases. In rare cases will a institute accept recent graduates. This, too, is done for exceptionally talented students. More : economictimes.indiatimes.com
Having knowledge will not serve, if a person is not able to put it into action. There are persons with adequate knowledge who have failed for the simple reason that they are not in a position to use their knowledge effectively. They are either slow in their approach or at times over-enthusiastic. This is where the role of experience or maturity comes in, to produce better results. A young person cannot have the number of years of experience of his elderly colleagues. However, nothing prevents an individual from drawing on the experience of others. This could be shared by mutual
MBA applicants should work for 4-6 years before they plan to get into a top international B-school. This was the advice offered by Mr Chad Troutwine, Founder of Veritas-Prep, a US-based leading GMAT-prep company while responding to a aspirant query on ‘AskMBAUniverse.com’, a new Expert-Q&A platform launched recently on the website. “The average amount of work experience at the top US MBA programs ranges from 4 years for Stanford to 6 years for Wharton,” said Mr Troutwine. “If you want to attend a top international B-school, I strongly suggest that you work for 4-6 years, gaining valuable leadership experience and industry-specific
The National Institute of Industrial Engineering (NITIE), Mumbai, offers hands-on experience to its students, in which students first-hand experience working in the industry. Thematic NITIE required to submit two months in summer course in the first year. They are necessary for a four-month internship with a company in its second year at the end of their academic year. The new students are exposed to the initiative of Mandi in the first week of their visitors figures of the Institute. You are also working on draft weekend for the duration of their course.
One of the most significant trends sweeping the Indian management education domain is the significant importance being attached to prior work-experience of MBA candidates. Overwhelming percentage of students at IIMs and other top-schools are candidates with some prior work experience. In the fresh data shared by IIM-L with MBAUniverse.com, a whopping 89% of candidates admitted to the Post Graduate Programme in Management (PGP) have some prior work experience. Significantly, just a year ago, only 50% of the batch admitted to PGP 2007-2009 were candidates with work-experience. Informs IIM-L, “The total number of experienced students in 2007-2009 batch were 122 (50.41%) which has increased
IFIM school offers MBA programme MOST MBA programmes offered these days insist on work experience from the candidates. Even institutes that do not ask for experience as eligibility condition and give preference to candidates who have worked in a management position. How does work experience make a difference to MBA programme? Offering an 18-month MBA exclusively for working professionals in partnership with the city-based IFIM Business School, the AUT University New Zealand provides an answer: Freshers, who are exposed to only theory, will not have a context to apply them. An MBA develops analytical frameworks and it does not give answers.
MBA students inspire pupils by sharing experience A group of Lancaster University MBA students went back to school to pass on their skills to pupils at Lancaster Royal Grammar School. The 10 students, who represented six different nationalities and various business backgrounds, visited the school as part of their course to share their commercial experience and see the workings of a local school. Members of the group, led by Helen ODonnell, talked about topics such as working for the Japanese Central Bank, marketing Coca Cola in Bahrain and the growth of the I.T. industry in India. Business studies and economics pupils at the
The Experience Curve Effects were first described by BCG consultant Bruce Henderson in 1960. Henderson found that there is a consistent relationship between the cost of production and the cumulative production quantity. Simply put, it states that if a task is performed more often, the cost of performing the task will decrease. Each time cumulative volume doubles, the value added costs (including administration, marketing, distribution, and manufacturing) will fall by a constant and predictable percentage. Researchers since then have observed experience curve effects for various industries ranging between 10 to 30 percent. Cost Leadership Strategy The Experience Curve is a major enabler
Indian Institute of Management Ahmedabad (IIM-A) has decided to hike the fees for the second batch of the one year Post Graduate Programme in Public Management and Policy (PGP-PMP) from Rs 9 lakh to Rs 12 lakh for non-sponsored candidates and for the students sponsored by the Department of Personnel and Training from Rs 7.5 lakh to around Rs 9 lakh. The institute has also announced opening its course to candidates with legislative and/or ministerial experience for the batch of 2008-09. The institute is hoping to attract candidates who are at least 27 years old and have one
Light-hearted, modest and concentrated, are the best words to describe Satish Pendse, CIO, Hindustan Construction Company. Aishwarya Ramani, learn more about people. The funny thing about humility, as soon as we klarmacht you, you coward. While the ego in most of us to attract credit pork selfish in certain situations, Satish Pendse, Chief Information Officer, Hindustan Construction Company, is also quite the contrary. No prodding Pendse to get the silence of his career success in the first person singular. Whether it is a clever tactical management or is it just his nature, Pendse seems to have mastered the art of inspiring
I conceived my dream project while I was doing my MBA presentation Mr KB Agrawal is a Chartered Accountant (and a gold medallist), who did an Exe-PGP from Indian Institute of Management-Indore (IIM-I) in 2002-2004, and is a turnaround expert based in Ahmedabad. He has 18 years of business and entrepreneurial experience, and is currently the MD of a commodity company. He has turned around a sick company with negative net worth – from a turnover of Rs 1 crore to making it a Rs 100 crore company. He is also developing a unique concept called Recycling Network – an idea
There are innumerable instances of people who entered business without proper knowledge, experience, or mislaid trust and landed in trouble. Here is an example of a young man who started manufacturing moulded chairs. I had no experience in marketing and after manufacturing lots of chairs I started supplying these to the furniture dealers. All of them exploited me as they retained the material and told me that they will pay after the chairs were sold, of course, after deducting their commission. In this manner whatever 1 invested went to the market with no returns. No one took interest in promoting
U of M study: standardized tests outdo prior academic experience in predicting student success In the largest and most comprehensive study of graduate and professional school admissions tests, a University of Minnesota-led team has found that standardized test scores are more accurate than prior academic experience in predicting student success. Nathan Kuncel, an assistant professor of psychology at the University of Minnesota, and Sarah Hezlett of the Personnel Decisions Research Institute said that after 80 years of controversy about the value of such tests, their study reinforces the correlation between students standardized test scores and success in their graduate studies and
Invites application for admissions to Diploma in Logistics Management - by Distance Education Eligibility : Engineering Degree with 2 years experience or Bachelors Degree/ Diploma in Engg. with 3 year experience Prospectus can be obtained by sending Rs.200/- DD in favour of IIMM to : IIMM NHQ Education Wind 247, Raheja Arcade, Koramangala, Bangalore-95 IIMM NHQ : 405, Kaliandas Udyog Bhavan, Century Bazaar, Prabhadevi, Mumbai-25 Source : Economic Times (Ahmedabad), February 12, 2001
Top business school encourages students from the region to prepare for the transition back to the classroom Manchester Business School (MBS) Worldwide, which operates through a new Middle East Regional Centre in Dubai, has recognised the issue and is offering a special incentive for early registration, benefiting students financially and also helping them to prepare for their new life as a working MBA student. Time is a non replenishable resource and so blended learning, which combines self study with face-to-face workshops, is a very cost and time effective mode of learning for business managers in mid-career, but it is not an