Excerpts from a submission

Folks, here is a personal take away (discovered during a submission) I thought I should put here.

Leading To Make a Difference (excepts from a note "Why leaders can't lead: The unconscious conspiracy continues" Warren Bennis)
True leaders lead fully integrated lives, seamlessly fitting their careers in their professional lives. It is important for a leader to see the inherent limitations, ambition, talent and capacity for learning puts on the real growth of the individual. He must strive to make these qualities his servants rather than master. A leader identifies his true calling by leveraging his strengths. He also leverages strengths of his people by encouraging them to think. He has the vision to rise above the intrinsic narrowness of the life around him.

Reflections: One year at IIMA, I have been feeling the constant internal dialogue between academic input and my real world experiences. Perhaps that is the reason why these reflection notes are designed in the first place. Sometimes I am challenged in the usage of expressions to mirror these internal conversations, but reflection notes are the best that can get to capture this essence. I must admit all this has accelerated my personal growth like never before in my life and now there is a yearning to keep this going all the while. I wonder how I would accomplish this.

One way is to read select literature and books. Another is to surround myself with people with who I can have such conversations. And yes there are reflection notes (I can consider writing them in my diary on weekends may be). The importance of stepping back amidst busy life and cultivating the ability to collect the pearls on the way cannot be underemphasised. I would say this realisation is the greatest gift IIMA has given us.

Finally, I have IIPed

It's been a long while since I have been here. My apologies for the unusually long absence. I have just finished my IIP (International Immersion Programme). I have been to Amsterdam Business School for the academic component and did my internship in India. Well, it has been a eventful five weeks to say the least. You see, I am building a case for long absence.

First, it was a week at ABS. I am stunned by the quality of the faculty (pleasantly surprised actually). A friend at ABS tells me that they have carefully picked on the faculty to teach us this time. Feels really good in the end to be taught by one of the best corporate law profs in Europe(McCahery), one of the most reputed finance profs (Florencio Lopez Silanes), who I am told is touted to be in the reckoning for a nobel prize for his work on origin of corporate law. Amsterdam was so hectic that we could barely pull out time for other things that Amsterdam is known for.
Amsterdam was exhilarating in many other ways. I have met some interesting students, few desi ones at ABS and a Pakistani student on exchange. The school's support staff was amazing, thanks for all the help Kirsten, if you are reading.

The next phase of IIP was back in India. I was working on a supply chain project in the garment industry. For reasons of confidentiality, I cannot talk much about the project. On a personal note I have been able to get into a nice fitness rhythm, but for the recent injury. So grounded for three weeks before I start running again. Can't see my new pair of Nike & iPod+ turning into a sunk cost, if not anything else.

I have also been getting requests from the PGPX III students about information and other help. Whilst all of the 2's are happy to share most information, it would be useful to have a 3's rep. to collate issues of common interest and liaise with me / us.

As 2007 fades away and a new year begins, for most of us it's a new beginning. Here's also wishing our syndicate partner Rajesh a speedy recovery and healthy new year.

Internship offers & PGPX III Admissions

We did a press conference today. You'll see details in media very soon.

Salient points:
International Immersion PGPX II

1. All students received at least one offer, with some companies being turned down.
2. Significantly higher interest this year with 38 international project offers and 34 domestic.
3. Wide diversity in sponsoring companies ranging from IT, Retail, FMCG, BFSI etc (Microsoft / EDS / Intel / Unilevers / Future group /Morgan Stanley KPO/ Yes Bank / Cisco / Posco / Frankfurt Stock Exchange and so on)
4. IIP module is unique component of PGPX which has a week of academic input at a foreign university and 4 weeks of project work at a sponsoring company. Last year a good number of these internships were converted into pre placement offers.
   

PGPX III Admissions

1. Increased applications this year - 1352 from 849 for last class.
2. Average gmat score 731 (among the highest in the world)
3. Single class (section) next year
4. Appx 40 students currently working abroad
5. 10% are women students
   
6. Foreign students % - No change from PGPX II

With this, PGPX is emerging as one of most sought after MBA programme for experienced people, at least in India for now. Also, the interest among recruiting companies for internships & placements is overwhelming. Companies are discussing dates for recruitment as we come back from IIP by December 3rd week.

Why does the Global Indian gets drawn to PGPX- Financial Times profiles an Xian.

Della Bradshaw, Business Education Editor, Financial Times was here, last month. She spent sometime with us in the class, listening to Shafeeq present market entry strategy for a company wanting to go abroad. She has interacted with a couple of Xians (from the reverse brain league) and has picked up Sanjay to profile in her publication dated 15th October. Here are excerpts from her article.

After working for Cisco Systems for seven years in Silicon Valley, Sanjay Kuberkar decided it was time to return home to India. "I was keen on moving to Asia [not necessarily to India only] because of the rapid growth the region has enjoyed in the past few years, and the opportunities that growth presents to a professional," he says. "These opportunities are not available in the US."

He decided to use an MBA as a tool for returning to the Asian market and looked at programmes throughout Asia, including China. He decided on the PGPX (post-graduate programme for executives) at the Indian Institute of Management in Ahmedabad, a one-year post-experience degree similar to MBAs offered in Europe by IMD or Insead.

This year's statistics for the PGPX programme show that Mr Kuberkar is not atypical of the class. The average age of the participants is more than 31 and, although almost all are Indian nationals, more than 80 per cent have worked outside India and half of those had returned to India from overseas positions in order to join. Perhaps the most telling of the statistics is the average GMAT score of the class: 699, comparable with any of the world's top MBA programmes.

Mr Kuberkar believes it will open doors. "After the programme, I hope to either start a new venture in the healthcare sector [the business plan for which is in the works] or join a venture capital firm," he says. "This is quite a different plan from what I had decided when I entered PGPX, but PGPX has pushed me to think differently and think big and, at the same time, helped me discover . . . and appreciate my strengths."

The full article is available here.

No wonder, I see more & more desis (during the recently concluded interviews for next class) wanting to come back home and wanting to make PGPX, their beach head.

Color on Canvas says it all !

As we near completion of term3 and head towards different destinations for our International Immersion Projects, it dawns on me that the time left before we graduate would be less than 3 months from the time we return to campus after IIP (in mid December). As the countdown begins, I hear from the pioneering class on how dearly they miss the campus life. It kind of feels touchy & feely already ya. We've hit off as class from the T-Nite time and developed family level relationships. Here is a tribute to class X, mostly done by the spouses group. These works were created during T-Nite time.

1. You can have the cake and eat it too. Many faces of Class X.

Credits: Spouses group (Neelima & Payal)

2. As we draw closer to convo, smell the the confidence and dreams in the air !

Credits: Spouses group (Neelima & Payal)

3. Beating the market..

Credits: Chatty

As Professor Seshadri mentioned, learning and skill acquisition has been the key focus so far in first 3 terms. Not surprising, considering we have taken a year's time out to do this, at this stage in life. But keeping material engagements (read placements) to the end of the programme, where they should actually belong has been a hallmark of this year's sojourn.

Good luck to each of us, as we discover the road ahead and make a new beginning. Amen.

When Kids have all the fun !

This blog would be incomplete without talking about the bunch of people who are making the most of their stay here at IIMA. Yes guys, we are talking about the future of India, the generation Z - Kids of MSH (married student housing) are having a blast out here. Many of us, in similar life stages, have kids of nearly same age. There are so many kids in the 3-6 age group that we have organized for a dedicated van for all the kids to the neighboring school. But when they are not at school, they either gang up at one of our flats or freak out as their moms yap at the adda. I often turn green with jealousy looking at these Z's. Bete tumhaari bhee baari aayegi !

For those with slightly older kids, the dynamics at home are quite tricky; the conventional discussions on kids' grades at school are completely obviated. And for justifiable reasons. After all fathers are smarter than kids- they are not going to open Pandora's boxes!

Experiences of a Prof who taught PGPX

Prof DVR Seshadri who teaches Strategic B2B Marketing Management wrote about his experiences about teaching our class and contrasts with that of teaching PGSEM folks at IIM, Bangalore.

I have also been meeting aspirants of PGPX III (next academic class), who were here in Ahmedabad for interviews. One of the common questions is about the class experience and peer group learning. Whilst many of us often write about our class experiences (often a student perspective), rarely have I come across a professor's perspective. I am sure, professors who teach Strategy, B2B, M&A in different schools would concur with Prof Seshadri.

To read Prof Seshadri's article, click here.

The Cricketing Spectacle at Baroda

On this 11th morning, about 20 of us, die hard cricket enthusiasts woke up at 5 am in the morning and driven down to Baroda to watch India play Australia, with a hope that the series will be leveled. Well, the experience has been short of a terrific one despite India caving in meekly. For me, this being the first time at a cricket ground in India for an ODI, it added to excitement. The experience was good because of the gang I was with. Also, to see the demigods in flesh and blood from about 10-15 meters distance was interesting, at least as it began in the morning. As the day progressed, I did not personally like the attitude and way some of the 'boys' played. To say the least the Indian team's attitude sucked big time and I am not talking about loosing the match.

We were sitting right next to pavilion and had the opportunity to see the players closely. The players who stood close to where we sat (third man / fine leg depending) were Hopes & Lee (while India batted) , Harbhajan & RP Singh (while the Aussies shoved us). It is amazing to see how players throw attitude even when people cheer them and root for them. For instance Lee acknowledged when ever the crowd yelled well bowled when he returned after bowling a good over. I liked the way he acknowledged and simultaneously concentrated on the game. Take Bhajji on the other hand- his gesture was as if he is God's gift to mankind when the crowd said well bowled (after the 1st over). May be he is used to this way, after playing in many grounds in front of the cricket crazy fans. But great people always had humility even when they became big and I suddenly discovered these guys were also mortals. It's us who put them on this demigod pedestal.

One difference from watching it on TV versus in the ground- you can see what you want to, rather than what is being shown. This is where it dawned (hard) on us- the difference between both the teams. Bhajji again for instance, had an option of running for a catch at deep midwicket (the risk is - he may miss it and the ball may run down to 4) or taking it on first bounce with reasonable surety. No prizes for guessing what he did!! The point is if we have lost the match in our minds before we even tried, no one can do much. In this case, the only message I got was - what is the point diving for a ball when the match is gone already. So much for the spirit of game.

The other aspect which sucked big time as the stadium infra. I tell you, it reminded me of the customer choice, during license raj in India. I wish I had taken some pics but this one is the most disgusting aspect of the day. There were open toilets (can you imagine??) or the so called eye wash of a makeshift 4 ft x 4ft (tinned) four walls (or three walls + an open door). Which Indian woman would use these toilets? For men - of course it doesn't matter(we get close to nature pretty fast!). Barring arrangements for water, every thing else was bad. There was hardly any choice for food (for lunch) and the PA system was jarring. We paid Rs.2000 each for this spectacle (which was kind of middle range). This reminded me of the Bajaj scooter and the Ambassador car of the 70's and 80's when customers in India did not have a choice.

Agreed cricket sells in India. It is ironical that despite Indian Cricket being one of the richest in the world, the fans get such a raw deal. How long will the fans be taken for granted? For once I am so happy Subhash Chandra started ICL. I really wish them good luck and want them succeed. If BCCI starts to learn only when competition teaches them, then best of luck to them. Mr Pawar, there are plenty of lessons to be learnt from Hindustan Motors and Bajaj Auto. What does it take to create a Kingsmead / Wanderers / Lords in India? Why can't we have good facilities where people can go, have fun and really call it entertainment. We have many lessons from again the multiplexes and malls in India. If they are very close to being world class and there is willing public to pay and use, then why not world class stadiums? For instance, compare the drainage facilities in the ground between Lords and the best in the country. The Bangalore ODI would have been saved; I am sure the ROI for just putting an efficient drainage would be very attractive. But who is looking at it?

Why don't we professionalize BCCI? Run it like a corporation and the top team (the CEO and other C's) of the new entity will be accountable for say a board. Dissolve all the state level associations and create just branch offices of the new entity. With the advent of TV we don't have to worry about taking cricket to Indian villages; 6-7 world class venues in cities with good airports and hotel facilities are just fine. I am sure if BCCI has this intent and really keen to make this change, there will be many takers to join them in this journey from even institutes like IIMs.

But, like in many areas in our country, what we really need is the leadership. Who will bell the cat and put an end to this spectacle? But on a lighter note, our gang did well to have fun despite the many hardships. Well that explains why this spectacle still goes on.

The Ethical dilemma

One of the most heated and passionately debated topics ever in the PGPX class, the ethics class was close to most us, for obvious reasons. Whether it was Olivia Jones (the protagonist in the case) dilemma or numerous experiential examples shared in the class, one thing was clear- the definition and understanding of ethics is not uniform and homogeneous. However, the notion of ethics that one holds seem to affect others positively / negatively, to certain degree and measure. This makes the effected party to respond and thus a debate on correctness of ethics is already on cards. As a manager of a corporation engaged in international business, one is expected to run into this debate many a time. It is perhaps important to recognize the heterogeneity of the meaning of ethics people hold.

I would see two outcomes as a result -
a) Being aware of one’s own definition should help clear out of questions and debates as one would have clarity of thought and her position on a debatable stand point
b) Respect other’s ethical stand point and not make value judgments. Even a Supreme Court judge very rarely is pushed to pass a judgment on ethical stand offs. Other mortals can clearly wait and resist the temptation.

Tête` - à - tête with McKinsey & Co.

Consult dada, McK was on the campus a few days back, for an informal interaction with Class X. The idea was to have a chat, so that Xians had an opportunity to clarify their minds on a consulting career with McKinsey. McKinsey must have got some feelers on our class at the same time. What was interesting is that this is not a pre-placement talk but a precursor to it. Can you believe it? I mean, many of us appreciated the investment McKinsey is making to getting to know Class X.

How about a switching into a consult career? How would your work-ex be relevant in what you would doing at McK? How does it go 5-6 years from the start? How do you crack McK interview? and the list goes on. Two members of the PGPX pioneering class attended the discussion and their presence and input gave people some more clarity on what is this career all about.

The interest (mutual I suppose :) ) was evident from the fact that the meeting over shot well over the scheduled time. Beginning 9.30 pm, it lasted 3 hours + despite submissions / exam next day. So, overall the discussion went off well, gave us a lot of clarity. I must add that people in Class X, seem to weigh all the pros and cons of this career before saying 'go'. It depends on the age, previous quality of work-ex, aspirations (and the pecking order there) and family circumstances for one to make this call. I am sure a good number in the class would be taking shots at the most admired consult.

But for now, it was a good start, although not the maiden one. BCG had the honours of making the first PPT (or any other interaction) with class X (way back in August).

PGPX III - FAQs Updated

Edit log:
1. 6th July
2.19th July (point 7 onwards)
3.11th September (point 10 onwards)

A future aspirant of PGPX came over today and we talked about where (&how) this programme will fit / not fit her requirements. I realised some things are common for all aspirants yet many are personal questions. I would be happy to help any future aspirants in this regard. I may not be able to guarantee immediate responses, but will try to do my best.

I would like to discuss some frequently asked questions and MY responses. I shall update this post with my responses from time to time, as I gather more questions.

Disclaimer: As, I am not connected to Adcom in any way, the opinions expressed here are purely personal. There could be significant differences between mine and adcom's views on certain questions. Please visit the IIMA website for official information.

Q1.What is a safe GMAT score?
Raju: Like all other schools proclaim, I would be tempted to say there is no such thing as safe score. The lowest score in our class has been 640. Having said that, I would imagine IIMA might have a preference for higher GMAT scores. If your profile is normal, a 700 would get you past the initial screening, but may not guarantee admission. Remember the applicant numbers are only going up and hence more is the competition. However, a less than 700 with other good application components will also get you past the initial screening, IMO.

Q2.What is your take on the programme?
Raju: When I have made a choice on pursuing a one year MBA, I was mentally ready for a grueling one year. At IIMA, it gets more intense than you can imagine. Hence term 1 was a rude shock for many of us, but many of us got comfortable with the pace and intensity as we moved on. Hence, I would say, this programme is good for those who can really soak in this sort of academic milieu and are ready to take the best out of it. PGPX perhaps has the most number of contact hours for a one year MBA programme.

Most of the faculty and the peer group are awesome, so learning environment is incredible. I am not discussing placements because that has been great from the very first batch itself.

The target applicant is typically more than 27 years old, has substantial work ex (the last two classes' average work ex has been 9-10 years) with a substantial international work exposure. Comparisons seem to be inevitable with other one year programs (such as with ISB) but I would imagine, there isn't any other programme catering to this segment of applicants in this part of the world. IMD and LBS (Sloan) would perhaps be the competing programmes. The programme has made giant strides already in it's second year, thanks to the preparatory efforts of the insti. It will get more international and diverse in future, IMO.

Q3. Please share some unique profiles from the current class.
Raju: The youngest in the class is 27 and the oldest is 49 (well she says, she is a lot younger mentally!). There a couple of entrepreneurs who I find most interesting (they say they are here to recruit talent for their companies), bankers, Accountants, Civil Servants (IAS, IRS, various others), Defense officers, a scientist and the others. The others have a wide range of experience- a director of an MNC, a VP from a leading BPO and so on (some of the senior profiles), while functionally people have manufacturing, sales & marketing, finance & accounting backgrounds from diverse industries. Almost all the participants have great academic pedigree (& a stellar record) or a successful career or both. Please refer to IIMA website for more details.

Hence, it is obvious that individual objectives and take aways from the programme would be very unique.

Q4. What is the focus of the programme / are there any specializations / electives offered?
Raju: The programme is designed to nurture general managers and hence does not offer specializations. However, there are a wide variety of electives on offer which are really batch specific (supply of faculty that year v/s demand of electives from the class). I also realize some courses like mergers and acquisitions which are electives in other programmes elsewhere, are core courses here, in line with the programme objectives.

Q5. Any dope on placements... how do you go about them?
Raju: All PGPX participants come with unique profiles by virtue of substantial work-ex and so are their aspirations. Hence, placements are customized to meet individual needs and the process is designed to meet this requirement; yet, PGPX pioneering batch could achieve100% placements and individual participant needs were met.

Q6. What are the programme USPs? Why should I choose PGPX over others, assuming it meets my needs?
Raju: The following aspects are compelling to a prospective aspirant.

1. Tough selection standards: IIMA continues to choose the best available from the international pool of applicants. I would encourage future applicants to come over to IIMA for a closer interaction with the class, to get a first hand touch & feel. For details, please contact Manager, PGPX.
   
2. Small class size: This helps in knowing all the class mates and form lasting bonds. Also very good from a networking perspective.
3. Great faculty: Most of the faculty at IIMA is awesome and that IMO has been key contributor in IIMA's success, although not so well recognized. Getting into IIMA as a faculty is tougher than getting in as a student. Surviving here as faculty is even more tougher. The feedback and continuous improvement process (to faculty) is very transparent and an effective process.
4. IIMA alumni Network: Being part of the alumni network of Asia's top B school gets you un-paralleled access to many things you may want in your professional life.
   

Added on 19th July 2007
Q7. My GMAT score is not all that high, but I think my overall work-ex is good. Should I apply?
Raju: A lot of people send me mails / leave comments on the blog with this question. Unfortunately, there is no right answer to this question. But in general, if you think you have a profile that you can show case and think you can bring something unique to class discussions and learning, you should go ahead and apply. However, I doubt if GMAT scores less than 640-650 get a dekho, no matter how good the profile is.

Q7. Lot is said and talked about entrepreneurship these days. What is the climate at IIMA for fostering this?
Raju: Super! There are good support systems such as the incubation center, some profs who are happy to help, you have access to funding bodies and more importantly various clubs and informal associations. We have an entrepreneurship club that not only helps budding entrepreneurs but also actively promotes intrapreneurship.

Q8. Is there any industry interface in addition to academics?
Raju: Pretty much. Business leaders from different industries come and interact with us. Jerry Rao (Founder,Mphasis), Basab Pradhan(Founder Grid stone) Rahul Bhasin (MD, Barings Equity), Pulak Prasad (Ex- MD Warburg Pincus), R Subramaniam (Founder Subhiksha chain), Sanjiv Bhikchandani (Founder Naukri.com) are among few luminaries who have interacted with us this year, so far. It has been a great learning experience listening to them and learning.

Q9. What is the International Immersion Programme (IIP) all about? How is this different from a student exchange programme?
Raju: IIP gives a PGPX participant an opportunity to spend a week at a chosen foreign business school and do a project with an organization in an environment different from the participant's home country. Please visit IIMA website for more details. Whilst the participant gains business insights and develops an understanding of host country's context (cultural and economic). The sponsoring company gains fresh perspectives from experienced and bright B School grads. Moreover the time spent (over a month) would give an opportunity to know the prospective hires and a choice of offering a pre-placement offer (PPO). Thus IMO, IIP is really a hybrid between a student exchange programme and a typical summer internship.

Added on 11th September 2007

Q10. Can you talk about the combination (and %) of teaching modes employed by the PGPX (case study/lecture/group projects)? Would be great if you can also mention the opportunities to interact with the industry (live projects/cases etc.)
Raju: Mostly case method driven. However some courses like Macro Economics were dealt in the lecture mode. In some soft courses role plays, seminar formats are also used.

Q11. Are students expected to be familiar with general management topics or are the subjects covered ground up?
Raju: All subjects are covered ground up. During January, PGPX office will send some prep material to all those admitted for some courses in term 1.

Q12. Given that the PGPX is a recent program, are there opportunities to interact with PGP Alumni body?
Raju: Interactions happen when the alumni visit the campus. It will improve as the programme matures.

Q13. How well (or not) is the program suited to career switchers? In other words, what % of the class typically switches careers?
Raju: By design, I think the programme is not meant for career switchers. People would like to capitalize on what they have done for 10 years. However, switches may happen for younger lot (less than 32 yrs)

Q14: The program doesnt require choosing a concentration and emphasizes on general management instead. Does this impact the number and availability of electives?
Raju: Please refer to Q4 on this. There are about 40-50 electives that are/will be offered this year between terms 3 &5, which covers all relevant aspects of a particular area. For example. Fixed income, Advanced Financial Markets etc for people looking Finance focus.

Q15: Can you provide a glimpse of social and professional networking opportunities (clubs, activities etc) available to PGPX students?
Raju:Although all the PGP clubs are open to all Xians, few find time to participate. Networking happens during events like T-nite, Chaos, Insight etc at IIMA. PGPX runs unique clubs like Entrepreneurship, Strategy which have specific needs of experienced participants. Focus of these clubs is to update on industry current affairs, special talks etc.

Q16. Finally, what do you like most about the program, and what do you like least?
Raju: This blog is full of things I like about the programme :)
Awesome faculty, amazing peer group and finally a great culture of IIMA. Things I don't like are a) It's still sarkaari in some areas. Unless the govt. gives a free hand these may not change.

What does it take it to be an Entrepreneur?

Indeed we are lucky that Jerry Rao, an un-usual entrepreneur (who took up to Entrepreneurship at 45) was teaching us entrepreneurship. More interestingly, he was using an HBS case Jerry Rao: Diaspora and Entrepreneurship in the Global Economy. There are several learnings from the class. Jerry credits most of his evolution to his first & last employer Citibank, for whom he worked for 25 years after passing from IIMA in 1973.

1. Flexibility with respect to autonomy at work
   
2. A nurturing environment (Citi sponsored Jerry for a PhD)
3. Jerry built lasting relationships and a network that stood for him in good stead. Jerry built a great reputation which later on helped him when started up.
4. Jerry had rational and not adaptive expectations (belief in the principle that past does not predict future)
5. Jerry developed new skills and abilities as he moved from one job to another (functional / geographical changes). He was willing to jettison zones of comfort and make personal sacrifices.

I have found Jerry's thoughts on Entrepreneurship very insightful.

1. Have a clear sight of downside while starting up. Ask yourself "can you manage the downside?"
2. Going public (too soon) brings it's own sets of pressures- a) it can prevent you from making strategic decisions (Q-Q pressures)
3. Willing to give up cushy (corporate) lifestyle during initial years (very relevant for Xians)
4. Trust and relationships built with different people all along your career would be quite useful.
   

I have chosen this course for sheer admiration for the prof. And this is turning out to be more than what I could ask for. Plus the quality of class discussions is hitting an all time high, thanks to the very talent peer group.

As Bryan Adams would say, some years down the line I am going to reminisce those were the best days of my life....

The future of PGPX

The one year MBA format in India has been a revelation of sorts. The success of PGPX, ISB, PGPEX vindicate this. In my opinion, in the coming 4-5 years this MBA market will considerably grow, catalysed by reverse brain drain of the diaspora.

The larger picture is India has huge reserves of talent and for decades people did not have convenient choices to pursue their dreams. The back to back Engineering & MBA by the time one turns 23, few years of job & fun and finally getting married was the oft beaten path to a good life. Many who have not taken this path rued, as the option of studying later in life was only at foreign schools.

For some one who is married, settled with a good job / career, school going kids, the MBA proposition could be nerve wrecking change. I know of people in my class who have given up green cards, sold houses in US, relocated to India with complete bag & baggage. It is too much of disturbance for a family, but the good news is that the environment and systems are getting congenial to support such people. The Married Student Housing (MSH) at IIMA is a perfect example of some of the support systems that are in place. Completely furnished homes with 24x7 services at beck & call help, enable many comfort conditioned students to ease into the student mode yet again. Admission at decent schools for kids at any level is quite peaceful. Cultural environment in the campus for kids and spouses is awesome. There are lots and lots of things /events that are planned by the Spouses group and make living comfortable and enjoyable. In fact, they are completely independent (the spouses group eats out, shops, watches movies together) - suits us well !

We have been interacting with many Industry leaders and I am quite happy to see their responses meeting us. Recruiting people at lateral level with 9 years of work ex from B schools is not usual in India and Industry is adapting to this phenomenon. Placements seem to hog more than their fair share of mind space. But fundamentally, I would look at IIMA for-

1. Opportunities to get into different fields, if you want to take a job that is.
   
2. Access to funding if you are keen to start up.
3. Acquiring great perspectives and an environment to develop thinking and decision making abilities (getting a great job / starting up is only the first step... becoming successful there depends very much on these abilities)
   
4. One year of reflection, away from maddening / hectic work life for many... to think on what we want to do in life and at work.
   

Many months back I was speaking to an LBS-Sloan Alum and he mentioned that the real benefit of the one year he spent at LBS was visible only after 3-4 years of passing out from school. Strange it is. Isn't it? Perhaps no. As the Sloans get back to real world, they deploy many things they have acquired/developed - it takes a while to take things to fruition. This alum told me if I go there, I would only aspire to replace the chairman of the company I was working on return. Such is the impact of the programme. Well, not surprising considering they exchange notes with Bill Clinton, Tony Blair, Jack Welsh etc during their one year. PGPX is on similar lines. I have found great insights in all the interactions we have been having with the Industry leaders be it R.Gopalakrishnan / Avnish Bajaj / Basab Pradan / Ramalinga Raju. While we recognise the palpable internal transformation, the synthesis of many inputs and more importantly the visible external manifestation will take some time. So, in summary the real benefits of the learning here would be truely visible after a lag, in my opinion.

The design of the programme and choice of some of the cases is worth mentioning here. For instance, sample courses like -

• Role of General Manager
• Merger & Acquisitions

These are core courses and are designed specifically for the experienced participants. Cases like Time - Warner acquisition bring recent real world situations to class room. All this is orchestrated by some of the best experts... the professors of course. Many cases like Walmart, Cisco, Saint Gobain, Citibank, Nortel got more interesting as some of the participants brought in their experiences of working for these companies, to the class room. Need we say more about experienced MBA programmes?

So, while the risks seem high for onlookers for dropping everything and heading towards IIMA for a One year MBA, people who have decided to take the plunge know the risk-reward equations very well. In fact it's a skewed one here.. for minimal risks one is certain to get high returns and continuously over a period of next 25 years+. Irresistible proposition, Isn't it? I am not surprised therefore, with the surge in applicant pool by 59% over last year despite a 40% fee hike.

The decision on increasing the in-take (to two sections) will be crucial and it will be known in a couple of days. IMO, the number of interviewees would be an outcome of this decision. While all the 1347 applicants eagerly await their turn on the 10th September (when the PGPX III shortlist would be announced), here 's wishing all of them the very best.

1-2-3, What's the deal?

The media talking point over last couple of days- the Indo US nuke deal is made more mystical than it really is. I wonder why people responsible for removing the clutter and crisply communicating the nuances of the deal are happy letting the pandemonium continue. The framework deal, called the 123 agreement after a section of the U.S. Atomic Energy Act, has rocked both the democracies engaged in it. Leftists in India, are busy with a dogged search for a political plank/agenda within the issue. Even if there were one, it could be unraveled only after reading and understanding the deal in totality.

The leftist objections about passing on leverage over India's foreign policy to US, seem misplaced and far from reality. Yesterday I was watching a news channel and it was appalling to find many parliamentarians oblivious of what actual the deal is and its implications. Unfortunately, the text which has been made public a few days back, has attracted more rhetoric than critique. So much for much talked about largest democracy. The Communist Party of India (Marxist) (CPM)'s website parrots its opposition but does not enlist what are the specific issues it has over the deal.

Some facts-

1. India has 14 reactors in commercial operation and nine under construction
2. Nuclear power supplies about 3% of India's electricity
3. By 2050, nuclear power is expected to provide 25% of the country's electricity
4. India has limited coal and uranium reserves
5. Its huge thorium reserves - about 25% of the world's total - are expected to fuel its nuclear power programme long-term

Source: Uranium Information, BBC

Since economic liberalization on 1991, Indian economy and consequently industry breathed a new lease of life. Securing energy, the backbone to economy, obviously is the top most priority of Indian Government. What India needs most urgently is public infrastructure and Energy, which Industry recognizes and hence has come out in open to support the deal.

The deal guarantees India fuel supplies for its civilian programme, and allows it to reprocess spent fuel. The debate over strategic compromise is ridiculous as well. Reuters say-

"
The pact has to be approved by Congress, while India needs to get clearances from the Nuclear Suppliers Group of nations that govern global civilian nuclear trade and also conclude an agreement to place its civilian reactors under U.N. safeguards.

"The United States will support an Indian effort to develop a strategic reserve of nuclear fuel to guard against any disruption of supply over the lifetime of India's reactors," the text said.

If despite these arrangements fuel supply is disrupted, the two countries would jointly convene a group of friendly supplier countries such as Russia, France and Britain to restore supplies to India, it said.

While both countries would have the right to end the pact with a year's advance notice and demand the return of fuel and equipment transferred, "the two parties recognize that exercising the right of return would have profound implications for their relations", the agreement said.

In what Indian officials said was an indirect reference to a future Indian nuclear test, the pact said the two sides had agreed to take into account whether "circumstances that may lead to termination" resulted from a "changed security environment" or "a response to similar actions by other states".

In other words, if Pakistan or China conducted nuclear tests, the U.S. would take that into account if Indian responded.

"
Pakistan seems as confused as the left parties on the deal. Pakistan has warned that the accord threatens regional stability, saying it would allow its arch rival to produce more atomic bombs. I would not find fault with their apprehension as it is stemming out of years of mistrust and misadventures. The deal has taken already 2 years since originally proposed during 2005 visit of Dr.Manmohan Singh to US. It may take a couple of more months for all parties involved to understand the intent and the construct of the deal and how it serves strategic purposes. In many ways, the agreement which will last for at least 40 years, is attempting to reverse 30 years of cold war time adversarial relationship between India and US. Truely, if and when it goes through historic milestone will be created.

All New Look for Term III

That's right! As I get ready for the next half of MBA life, I said let me get a new look... for my face as well as for my blog....

And before I realized, the week long break disappeared. I am off to Ahmedabad tomorrow; term III will begin on 27th Aug. I chose 3 electives for term III out of a selection of 19 options. We have to make up a total of 2.4 credits or 60 sessions. Since I am looking at FMCG and Retail industries as my key focus areas post MBA, I opted for Retail Management as one of the electives. The Prof who will be teaching entrepreneurship is gawd level and hence this course as well; besides it fits into my long term scheme of things. And finally Strategic B2B, again because it falls into my key focus group - Marketing and the prof is rated pretty high. So, you would have noticed electives decisions are influenced by the quality of prof... that's one learning I had from two terms at IIMA.

So, tomorrow I gonna carry tons of book from PGPX office (for term III) for starting prep for Monday's classes... here we go.

Bonsai Manager

Mr R GopalaKrishnan, Exec Director Tata Sons was on the campus during the first week of August. He interacted with the PGPX class for half a day and also spent time talking about developing intuitions as managers and how we can use it for making effective decisions. He being a great believer in role of intuitions in management, pour in all his experiences into his maiden work, "The case of the Bonsai Manager". Gopal uses his deep understanding of nature in driving home his point and he has been absolutely brilliant at that.

I was particularly impressed by this man's thought process and articulation skills. He held the class captivated for about 2 hours, as he took us through his learning from stint at Levers and now at Tata Sons.

His brother R. Srinivasan is another wizard (I've heard him a couple of times - even this man is a great thinker and orator) but works for another Indian giant ITC. Looks like getting big, runs in the family !

T-Nite and end of Term II

Last 3 weeks have been perhaps the most hectic times since the MBA grind has begun. First it was T-Nite and then the last week grind of term II and finally the exams. Phew ! it has been a physically and mentally sapping stretch.

T-Nite (for those of you, who wouldn't know of this IIMA tradition) is short for talent nite. All the incoming freshers exhibit their talent in this 4.5 days marathon that calls for extreme planning, coordination, high talent levels and more importantly class camaraderie. The 4 PGP sections and PGPX class compete; leaving the whole campus on a cultural frenzy. Interestingly, only towards the end, one discovers there are no loosers; as everyone discovers new ways of relating and bonding with their classmates. Class X is supported with the 25 odd spouses on the campus who have rocked as well as class X. In fact, they have proved why they are called better halves! Class X surprised everyone (as it did last year) and ran the favorite after the second day. In the end, we ended up second but we are happy to discover our elements and live those glorious moments to the fullest.

T-Nite took its toll on most of us - some with bad throats (the cheers leaders), many with viral fevers and other pains which I would like to avoid talking here ;) Unfortunately, nothing seems to stop the academic grind at IIMA; we realised this as we went along... came back after t-nites and worked on submissions for the next day!

Before we recovered from the ailments exams were staring in deeply. One after another, for 8 days and the ordeal was done finally on 17th Aug with the last submission. What a way to end term II!

Finally, we all have hit our home towns for a well deserved break. I could also catch up on my blogging... expect more rambling during next week :)

Presenting Class of 2008...

Class X's profile book is ready and will soon be available on IIMA's website. Get an early peek from here.

It is a week long break for us now between terms II & III. I am chilling out in Hyd and hopefully blog as often as I wish ;)

Cheers.

PS: Some people have asked me for profile book of Class of 2007. Here it is.

Awesome... Sujata !

This one is going to be a certain IIMA memoir for most of us. The prof who taught us Financial Markets, not only helped in developing an intuitive understanding of debt, equity and derivative markets but also connected with us so well, that most reckon her to be more a friend than a teacher. For us, Sujata has re-defined teaching in B Schools. She was simply superb !

As we all gathered this evening, to say thanks to this great teacher, I was awestruck with the amount of love and affection she had won from the class in 6 weeks flat. As she stood listening to people sharing their experiences with her and was receiving souvenirs and good wishes, a simple truth dawned on me. To win the respect and love of people like students and sub-ordinates (who owe no obligation to return favours/say good words) you not only have to be good in what you do (she was amazing in fin fundas - BS(MIT), MBA(IIMA) and great pedagogy), but also have to be a good human being(she was extremely helping, caring and approachable).

Personally, it has been wonderful and gratifying experience with you, Sujata. Your advice has been extremely useful and I hope to find my goal on the path I am choosing.

Till we meet again..... Adieu.

PGPX Selectivity among the top international programs

Yeah, that's right. Sample this information. First graduating class with 60 students out of 730 applicants, a selectivity of 8.22%. The current class with 72 out of 849 applicants has a selectivity of 8.48%. Looking at Business Week information on US Ivy league schools and European top schools tells us these numbers are actually pretty good, for starters. What IIMA has got right in it's formula is from among the Indian pool of applicants (located around the world) who are more than 27 years old, they are perhaps getting the best. This is also validated by the fact that many in the current class chose PGPX over other admits they had. And yes, the yield (no of people accepting offers to total offers made) is around 85% only next to schools like HBS. We learnt about Segmentation, Target market & Positioning (STP) tools in Marketing classes and PGPX programme itself is a good example for this.

Given IIMA's obsession with low selectivity rates this statistic doesn't come as a surprise. On the diversity factor, US schools have international participants upto 35% in general, hence they are by & large American dominated. However, in European schools (like IMD) no single nationality really dominates. In years to come, as IIMA gets into the global league we would have made some big strides along those lines.

Do catch up on Prof Arvind Sahay's (PGPX Chairman) interview on PagalGuy.

PGPX III - FAQs

Edit log:
1. 6th July
2.19th July (point 7 onwards)
3.11th September (point 10 onwards)

A future aspirant of PGPX came over today and we talked about where (&how) this programme will fit / not fit her requirements. I realised some things are common for all aspirants yet many are personal questions. I would be happy to help any future aspirants in this regard. I may not be able to guarantee immediate responses, but will try to do my best.

I would like to discuss some frequently asked questions and MY responses. I shall update this post with my responses from time to time, as I gather more questions.

Disclaimer: As, I am not connected to Adcom in any way, the opinions expressed here are purely personal. There could be significant differences between mine and adcom's views on certain questions. Please visit the IIMA website for official information.

Q1.What is a safe GMAT score?
Raju: Like all other schools proclaim, I would be tempted to say there is no such thing as safe score. The lowest score in our class has been 640. Having said that, I would imagine IIMA might have a preference for higher GMAT scores. If your profile is normal, a 700 would get you past the initial screening, but may not guarantee admission. Remember the applicant numbers are only going up and hence more is the competition. However, a less than 700 with other good application components will also get you past the initial screening, IMO.

Q2.What is your take on the programme?
Raju: When I have made a choice on pursuing a one year MBA, I was mentally ready for a grueling one year. At IIMA, it gets more intense than you can imagine. Hence term 1 was a rude shock for many of us, but many of us got comfortable with the pace and intensity as we moved on. Hence, I would say, this programme is good for those who can really soak in this sort of academic milieu and are ready to take the best out of it. PGPX perhaps has the most number of contact hours for a one year MBA programme.

Most of the faculty and the peer group are awesome, so learning environment is incredible. I am not discussing placements because that has been great from the very first batch itself.

The target applicant is typically more than 27 years old, has substantial work ex (the last two classes' average work ex has been 9-10 years) with a substantial international work exposure. Comparisons seem to be inevitable with other one year programs (such as with ISB) but I would imagine, there isn't any other programme catering to this segment of applicants in this part of the world. IMD and LBS (Sloan) would perhaps be the competing programmes. The programme has made giant strides already in it's second year, thanks to the preparatory efforts of the insti. It will get more international and diverse in future, IMO.

Q3. Please share some unique profiles from the current class.
Raju: The youngest in the class is 27 and the oldest is 49 (well she says, she is a lot younger mentally!). There a couple of entrepreneurs who I find most interesting (they say they are here to recruit talent for their companies), bankers, Accountants, Civil Servants (IAS, IRS, various others), Defense officers, a scientist and the others. The others have a wide range of experience- a director of an MNC, a VP from a leading BPO and so on (some of the senior profiles), while functionally people have manufacturing, sales & marketing, finance & accounting backgrounds from diverse industries. Almost all the participants have great academic pedigree (& a stellar record) or a successful career or both. Please refer to IIMA website for more details.

Hence, it is obvious that individual objectives and take aways from the programme would be very unique.

Q4. What is the focus of the programme / are there any specializations / electives offered?
Raju: The programme is designed to nurture general managers and hence does not offer specializations. However, there are a wide variety of electives on offer which are really batch specific (supply of faculty that year v/s demand of electives from the class). I also realize some courses like mergers and acquisitions which are electives in other programmes elsewhere, are core courses here, in line with the programme objectives.

Q5. Any dope on placements... how do you go about them?
Raju: All PGPX participants come with unique profiles by virtue of substantial work-ex and so are their aspirations. Hence, placements are customized to meet individual needs and the process is designed to meet this requirement; yet, PGPX pioneering batch could achieve100% placements and individual participant needs were met.

Q6. What are the programme USPs? Why should I choose PGPX over others, assuming it meets my needs?
Raju: The following aspects are compelling to a prospective aspirant.

1. Tough selection standards: IIMA continues to choose the best available from the international pool of applicants. I would encourage future applicants to come over to IIMA for a closer interaction with the class, to get a first hand touch & feel. For details, please contact Manager, PGPX.
   
2. Small class size: This helps in knowing all the class mates and form lasting bonds. Also very good from a networking perspective.
3. Great faculty: Most of the faculty at IIMA is awesome and that IMO has been key contributor in IIMA's success, although not so well recognized. Getting into IIMA as a faculty is tougher than getting in as a student. Surviving here as faculty is even more tougher. The feedback and continuous improvement process (to faculty) is very transparent and an effective process.
4. IIMA alumni Network: Being part of the alumni network of Asia's top B school gets you un-paralleled access to many things you may want in your professional life.
   

Added on 19th July 2007
Q7. My GMAT score is not all that high, but I think my overall work-ex is good. Should I apply?
Raju: A lot of people send me mails / leave comments on the blog with this question. Unfortunately, there is no right answer to this question. But in general, if you think you have a profile that you can show case and think you can bring something unique to class discussions and learning, you should go ahead and apply. However, I doubt if GMAT scores less than 640-650 get a dekho, no matter how good the profile is.

Q7. Lot is said and talked about entrepreneurship these days. What is the climate at IIMA for fostering this?
Raju: Super! There are good support systems such as the incubation center, some profs who are happy to help, you have access to funding bodies and more importantly various clubs and informal associations. We have an entrepreneurship club that not only helps budding entrepreneurs but also actively promotes intrapreneurship.

Q8. Is there any industry interface in addition to academics?
Raju: Pretty much. Business leaders from different industries come and interact with us. Jerry Rao (Founder,Mphasis), Basab Pradhan(Founder Grid stone) Rahul Bhasin (MD, Barings Equity), Pulak Prasad (Ex- MD Warburg Pincus), R Subramaniam (Founder Subhiksha chain), Sanjiv Bhikchandani (Founder Naukri.com) are among few luminaries who have interacted with us this year, so far. It has been a great learning experience listening to them and learning.

Q9. What is the International Immersion Programme (IIP) all about? How is this different from a student exchange programme?
Raju: IIP gives a PGPX participant an opportunity to spend a week at a chosen foreign business school and do a project with an organization in an environment different from the participant's home country. Please visit IIMA website for more details. Whilst the participant gains business insights and develops an understanding of host country's context (cultural and economic). The sponsoring company gains fresh perspectives from experienced and bright B School grads. Moreover the time spent (over a month) would give an opportunity to know the prospective hires and a choice of offering a pre-placement offer (PPO). Thus IMO, IIP is really a hybrid between a student exchange programme and a typical summer internship.

Added on 11th September 2007

Q10. Can you talk about the combination (and %) of teaching modes employed by the PGPX (case study/lecture/group projects)? Would be great if you can also mention the opportunities to interact with the industry (live projects/cases etc.)
Raju: Mostly case method driven. However some courses like Macro Economics were dealt in the lecture mode. In some soft courses role plays, seminar formats are also used.

Q11. Are students expected to be familiar with general management topics or are the subjects covered ground up?
Raju: All subjects are covered ground up. During January, PGPX office will send some prep material to all those admitted for some courses in term 1.

Q12. Given that the PGPX is a recent program, are there opportunities to interact with PGP Alumni body?
Raju: Interactions happen when the alumni visit the campus. It will improve as the programme matures.

Q13. How well (or not) is the program suited to career switchers? In other words, what % of the class typically switches careers?
Raju: By design, I think the programme is not meant for career switchers. People would like to capitalize on what they have done for 10 years. However, switches may happen for younger lot
(<30 style="color: rgb(0, 102, 0);">Q14: The program doesnt require choosing a concentration and emphasizes on general management instead. Does this impact the number and availability of electives?
Raju: Please refer to Q4 on this. There are about 40-50 electives that are/will be offered this year between terms 3 &5, which covers all relevant aspects of a particular area. For example. Fixed income, Advanced Financial Markets etc for people looking Finance focus.

Q15: Can you provide a glimpse of social and professional networking opportunities (clubs, activities etc) available to PGPX students?
Raju:Although all the PGP clubs are open to all Xians, few find time to participate. Networking happens during events like T-nite, Chaos, Insight etc at IIMA. PGPX runs unique clubs like Entrepreneurship, Strategy which have specific needs of experienced participants. Focus of these clubs is to update on industry current affairs, special talks etc.

Q16. Finally, what do you like most about the program, and what do you like least?
Raju: This blog is full of things I like about the programme :)
Awesome faculty, amazing peer group and finally a great culture of IIMA. Things I don't like are a) It's still sarkaari in some areas. Unless the govt. gives a free hand these may not change.

Macro Economic Imperatives for India

When India got it's independence in 1947, lot of things were in dis-array. For instance the low literacy rate (less than 25%), low life expectancy (22 years ! yes that's right) and many other disappointing socio-economic factors. While the population growth during the first 50 years of 20th century has been between 0.5-1%, it has been around 3% in the subsequent 50 years, leaving independent India to manage newer challenges than what British have left us with. 400 years of slavery under disguised merchants (The East India Co.) has made us extremely skeptical about business and capitalism. And of course the soft corner for Russia and the socialist overtunes of independent India's new leadership led to choosing a closed & controlled (by government) economy. It is relevant to mention that the gap between haves and have nots was vast during 1947. Market led economy would NOT have been appropriate for this context, as social resources were not distributed equitably. However, we continued with this model of economy for 45 years before liberalization. The conditioning was so strong that even talking business or investment made us feel guilty and shy. The Hindu rate of growth at 3.5%(GDP growth) was not surprising.

In the backdrop of this context, the progress India made cannot be dismissed as sub-optimal, for sure. Although, we could have done better without the Indian crab syndrome (pulling each other down) and politically motivated unproductive energies in issues like reservations. The vision of our forefathers was legendary, when we are reminded of creations such as Bhakra Nangal dam(Punjab continues to be the most the productive agricultural state), the IITs, IIMs and IISc. Thus, the wealth created in silicon valley owes some of it's allegiance to founding father's of Indian Economy ;) Many other investments in public infrastructure turned out to be world class, although we often discuss the failed stories.

1981 is a year of significant departures for Indian economy. The blueprints for change in policy has taken its zenith. In the subsequent 25 years, India has achieved more than what it had achieved in the previous 40 years, on any parameter such as GDP growth, literacy rate, infant mortality, female empowerment etc.

The imperatives for now, as pronounced by the Economic survey 2006-07, are sustained & inclusive growth and controlled inflation. I have mentioned (in one of my posts on this blog) about contract farming and PPP in infra structure. In the infra structure area, in addition to ports, airports, mass transport systems there is an urgent need to address issues in Energy sector. The Energy Act, 2003 has been a dis-appointment in failing to make an impact in 4 years of it's existence. I have a feeling that the center has been too lax in letting the states get away with delays in framing the rules. Why does even a progressive state like Gujarat move slow in coming up with rules to pave way for wind mill projects in a state having the longest coast line in the country? While Nuclear energy pact with US hangs in suspense, the biggest issues remain- of leakages and of line losses that need to be addressed on priority. Perhaps, dis-investing Transco companies and giving out management control to reputed private sector companies is a good way forward. These bold decisions need political will and unfortunately, the existence of a coalition government and its politics does help our cause.

As, we struggle to put a cap on inflation even as the rupee gains and IT industry sulks, action in novel approaches like large scale contract farming, PPP in infrastructure, Privatizing transcos is the need of the hour. There seems to be a trend or should we still call it a coincidence that the Finance minister, Prime minister and President are all professionals / respected personalities first and politicians next. Directionally we cannot go wrong as long as this continues even as the pace continues to be sluggish.

End of Term 1

It has been over 9 weeks since coming over here. Late night case discussions in syndicate, dozing off in classes and exams loomed large on my term 1 impressions. As the term is nearing its conclusion, we had a dinner organised thanks to Tejbir.

We've got 2 more end terms tomorrow and one take home exam for the weekend. But today's exam has been a disaster for many. I will not go into the details of how some of us screwed up, but suffice to say- it's been a great leveler of sorts.

Term 1 mostly dealt with basic management courses called, Building Blocks in PGPX parlance. Some of the BB courses deal with balance sheets, P&Ls, consolidations, relevant costs, variance analysis, performance analysis, OB, Strategic HRM, Brands, OM, Stats, LP, Micro Eco and others. Mind you the courses themselves are not called by these names. The emphasis has been on group based learning with at least 30-40% credits to group based work in general.


BB continues in term2, which is commencing from the 11th June. I am looking ahead to this weekend, to catch up on sleep and may be watch a movie.

Failure se Failure Tak

"A system designed to succeed, succeeds if it succeeds.

A system designed to fail, fails if it fails to fail."

If you thought I am mad quoting this, you are probably right. However, part of the credit or dis-credit goes to the professor who made me and scores of other PGPX participants go bonkers today.

Well, I must confess that the realms of learning I am experiencing right now in this course(Design of Operations to Meet Demand, if you thot it was about OM, there are surprises!!) is perhaps the best I have ever come across in my life. Nothing short of transformational. Because, the impact is not just in acquiring some knowledge or abilities. Because the impact is not just in training your mind (as many profs at WIMWI insist). It is because, it (the experience) hit us at a level, which could transform our lives, in terms of our thinking, our values and decisions.

The discussion is about failures and what we can make out of them. The context is a case on Toyota Motors in US. The long and short of the story, Toyota has two fundamental choices. a)Allow failures to precipitate and surface, because there is a seed of success that may eventually germinate and grow b) Allow successes as they apparently serve our purposes.

TPS or the Toyota production System deploys JIT and JIT as a system is designed to fail ! A complete contrast to how we have been designing classical systems- design to succeed. But JIT, also has another important element which is the learning organisation. As each failure is allowed to happen, the learning organisation aggressively attacks to solve. The same failures do not repeat. The beauty is in recognising that failures are part of nature. They are all around. So, JIT builds its systems to acknowledge failures and ensures they are systematically overcome.

Classical sytems = designed to succeed; garbage in, garbage out. Fail safe system.

JIT = designed to fail; garbage in, nothing out (meaning the output is stopped, till the failure is remedied). Safe fail system (failure in a controlled environment).

Thus, JIT transcends to the level of being a religion, not just a philosophy.

It is impossible to document my learning in words. But my selfish motive in doing it, is also that when I look back, I can instantly re-collect the class experience.

Awesome !

PGPX, a Disruptive Technology

Joseph Bower & Clayton Christensen's HBR article talks about disruptive technologies.
Consider the evolution of CSP technology in Steel industry to produce thin sheet steel pioneered by Nucor Steel. Also look at the general mushrooming of mini mills producing the low cost steel rods & pipes that have preyed on the large giants and have taken over the segmental market share in a short period of time. In India, we have film stars advertising for the construction grade steel rods (called sariya) of late, which was an unknown phenomenon few years back. Look at Digital photography replacing the film based photography. USB pen drives replacing floppies and may be even CDs.... the list goes on. Every day we watch so many newer technologies taking on giants who thought these small new technologies would never go the full mile.

What is so characteristic about these new 'disruptive technologies'? All of them almost make a modest beginning ie., when they start, they offer less for less. Not so much storage capacity at similar prices in the case of smaller storage devices replacing the bigger ones(5 1/4" v/s 3 1/2"), and hence it does not look very attractive in the beginning. The analogy prof Mukherjee uses to describe them is of a donkey.

New technology = Donkey

So the question is, would you as an organisation bet your money on a donkey taking part in a race along with horses? Would the donkey become horse or better still a cheetah and win the race? If you have the business knack of identifying these prized donkeys, you can add more sting to your portfolio. Bower and Christensen talk about how large sized companies ignore and dismiss the newer technologies that later on prey on them. Call it short sightedness or lack of judgement?

So, as time goes on, donkey-->Horse/cheetah
and then
As we ended the class, normally Prof Mukherjee has the last word. But today, it had to be different, Chibber bhai as usual is thinking either about PGPX or application of hsi learnings from the class room. And bingo ! He wonders if PGPX is a disruptive technology in Global market. Well, the donkey comparison is not so bad, if you have the foresight of what is going to unfold. Prof Mukherjee is sure about where he wants to bet his money on.

We, the Grateful Fools!

"As we stand at the edge of Darkness,
Let our chant fill the void
so people will know

That in the land of the night(read business)
the chariot of sun(read strategy)
is drawn by the grateful dead (read fools)"

says this amazing prof in operations managements (& strategy) and the PGPX class echoes.

Most of us thought we are delving deep into the techniques of project management when we discussed the Boeing case. The famed 767 launch and how Boeing incorporated the changes in it's work in process. The previous case was on how Enercon India believed it has excellent project execution capabilities and the set of actions (or in-actions) that follow. The AON charts and the critical path method steam up class temperature. Just then, the great anti-climax... From OM techniques the class followed the prof in leap frogging into strategy. Or should I say, we started appreciating the seamless boundaries and layers of elements of business - ops, finance and strategy.

In the context of eroding customer confidence in the Wind energy industry post 1994 shakeout, Enercon adopted a strategy of pursuing customer delight. What it meant in reality was using Enercon's core competence (project management abilities) to travel the extra mile and taking decisions which seemed foolish ! well, on the face of it. When you dig in, you realise that, this company actually wanted to build a unique credibility in the Indian market, where the customer invests but does not even bother to visit the site ! Strange it may seem to all us and we call them fools for it defied simple arithmetic of cost-benefit analysis, factoring time value of money. But after the real reason was unravelled, we (better) gave them credit which was due, but did settle another account, acknowledging ourselves as fools, the grateful ones - for some of us had the humility to accept it.

In a spontaneous and resonating moment the class gave an ovation to this prof at the end of the class, as it came out of the trance. You are missing something if you are not here.

PGPX Spouses & Partners

While the husbands (well most of us are) are busy mugging (our lingo for studying.. .ahem!), the spouses group has been really hitting well of as group. The IIMA new campus is a typical site to watch these days. The sprawling lawns in front of CR11 and the shack (which is our hope at 3 am in the nite for a cuppa tea) made a perfect setting for the 20 odd women and their kiddos to have a get together at 11 pm ! While the crowd played antakshari and rejoiced outside, we morons mugged inside our syndicates and star gazed, mera time kab aayega? (longed for the good times).

Being here with my family perhaps has been the best decisions I have made. Contrary to many people telling me that family might be a hindrance to my studies, I found it works the other way round. My family being with me, has been huge source of support and strength. In fact the little time I get to spend with my son, is what I use for recreation. In 3.5 years since he was born, I never spent such quality time with him. That makes me realise, the one year also gives us time and space with family which was dearly missed in the work life rut. I am loving it.

A day in the life of a PGPXian

It has been just over a month and we have lost count of the tests that were administered so far, to check how much have we learned. Interestingly, most of us are asking ourselves- are we here for learning or for grades? This questions gets asked most frequently immediately after a test (or quiz in IIMA parlance) and no prizes for guessing the response! I have just hit my study, after a gruelling day, which also had two quizzes. And as I was pondering over, I thought I shall put down a typical day of a PGPXian (during term 1).

7.30 am Wake up and catch up on news on TV (more used as a radio here) as I get ready.

8.15 am Yap with class mates over breakfast. From business to cribs about food quality, breakfast discussions over a cuppa are amusing - for anything under the sun, PGPX mess is the place.

8.45am - 1.30 pm Three classes with 10-15 min break between each class. In most sessions, we would not realise, how time flew but in few other courses, well.........
Like in any other school, what we learn seems to be directly proportional to quality of Prof's pedagogical prowess.

1.30 pm Lunch and check out what's the agenda for next day. Agree with your study group on how will we structure the prep for next day's class and person specific responsibilities

2.30 pm Quiz (usually surprises). On days when quizzes are not there, study / prep begins

3.30 pm - 9. 30 pm - Self study for next day (with a half hour break in between for dinner). Self study comprises of reading 2-3 cases, each around 15 pages. In addition it would constitute reading concepts / fundas from text books and solving problems on courses like Eco, stats and other Ops. courses. Thus term is part of Building blocks and true to their names, the courses are bombarding me with heavy duty stuff.

9.30 pm onwards: Study group discussions. Depending on the quantum of work load, the end time gets decided. For instance, on days when there is a submission the next day, end time can be 4-.4.30 am !! Else, it would be around 1.30 am to 2 am.

2 am Personal Space. Come back home, check and respond to mails. Catch up on online notes / interesting articles.

2.30 am Try to sleep ;)


Guys, this schedule has been going on for 5 weeks now and on weekends, we are either playing catch up / sleeping.... stories of students repeated year after year, as IIMA script remains largely same. It's time now for me, see you guys here soon. Enjoy your weekend !

One down, eleven to go!

PS: Is't a picture supposed to tell a thousand words?

Brands are living beings!

Strange? Huh ! Even I found it un- believable, until an extremely passionate prof in Marketing had to reason further. That they create off springs (by creating sub brands) and that they become friends (customers placing trust and emotions in the brand). Sample, Tata for trust. The animated discussions we had in the 75 minute session, perhaps make brands what they are. Glamorous, Abstract and Living entities. IMO, undoubtedly the credit goes to the instructor in creating such a learning environment, where students relate to the discussion instantly and learn without much effort. It is perhaps profs like these that made IIMA what it is.

It has been a long while since I blogged. There were some technical probs with my Internet explorer which had to be sorted out. Finally,got them cracking. I have so much to say, but so less time ! Will bring you all upto speed soon.

Before I sign off, here's one snap from the PGPX class room, an Army Major, and two techie wizards caught un awares, well almost!