In this column by Prof Ramesh Venkateswaran, author addresses these issues for MBA aspirants.
Prof Ramesh Venkateswaran is a Mechanical Engineer from Indian Institute of Technology, Bombay and post graduate in Business Management from Indian Institute of Management Bangalore. He was the Gold Medalist of his batch of 1980 at IIM Bangalore and winner of the Glaxo Marketing Scholar of the year. Further, he has over seventeen years of experience in the corporate sector and seventeen years as a management consultant and trainer. He has worked with Voltas and TVS Motors and has sales, marketing and general management experience. Prof Venkateshwar is a Director on the Board of Patni Computer Systems Limited.
How to get the best out of B-school
Column by Ramesh Venkateswaran, Director, SDM Institute for Management Development, Mysore
"THIS is the CAT season. There is a CAT mania amongst a large number of people in the 21 to 26 year age groups, trying to get into the best B school. Many CAT aspirants suffer from CAT fever and CAT phobia.
Each year seems to be getting tougher with more students chasing a limited number of seats in the "good" B schools. This year one newspaper reports that there are about 2.76 lakh students writing the CAT – a record! I am really glad and relieved that I did my IIM 30 years ago when things seemed much simpler.
This piece is not about CAT exams or interviews. I am sure you get enough of leads and advise from your coaching school, friends and well-wishers. I would like to share some thoughts on how to make B-school life less stressful and more fun.
I am intrigued by the numerous media reports on the economic downturn and what it means to B-school graduates. Interestingly, the focus is on employment opportunities – or the lack of them in the current context. There are also many reports about which management discipline will now be in fashion in view of the meltdown of the finance sector.
The net result is that young students, who have put in a lot of effort over the years and are already stressed because of the severe CAT / MAT / XAT competition, now get stressed on matters of the economy over which they have no control.
So what should one do when one gets into a B-school?
Many B-school aspirants ask me what are the specializations they should be considering since Finance does not seem very attractive now. The job scene for Finance people seems "bleak" and the demand is likely to be low this year.
Sure, things look tough now. But is this going to be a permanent feature? Is the purpose of getting an MBA primarily to worry about getting the best first job out of campus or is about doing well for the next 35 years of a person's working life?
Like any industry, B-school demand is derived from the economy and the corporate world. There will be ups and downs linked to such external factors. One cannot and should not worry oneself about current upsets or slowdowns. I am sure an MBA is an investment one is making for one's life.
As a student, the focus must be on getting a good all round management education. I am not able to grasp the emphasis laid on functional specialisation at the MBA level. Management is a very inter-disciplinary subject and an MBA must have good all round knowledge and competence in various disciplines.
I believe the utility of a manager lies in her flexibility and ability to see the total picture, which can only come if one has good inter-functional management skills. Of course, one may take more courses in a specific discipline where one has an interest.
So keep your options open. It is only the first job out of campus where your MBA degree will matter. After that, growth will depend on your performance and track record. The MBA is in fact only a passport for the first job.
The second area of major concern and stress for management students seems to be their first job and the first salary from campus. Very often peer pressure and perceptions lead students to want the "prized" jobs. Students often feel dejected and inadequate if they do not get the prized company.
I think it is important for students to consider the first few years after the MBA as a continuation of their post graduate education process. This is the time to try out a job, a company, an industry and see how one feels about all of them.
Today's generation is much better placed than earlier generations in terms of choice and opportunity. You have a much wider choice and are generally less locked-in, into a job or organization that do not suit you.
I am sure Mr. Narayana Murthy – like numerous others -- did not chart out his future or expect to be where he is when he was a PG at IIT Kanpur or a research associate at IIM Ahmedabad. Successful people have grabbed chances and seen opportunities where others have not.
To sum up, take the two-year MBA programme as a part of your ongoing life journey and not as a destination in itself. Remember, whatever decisions you take with regard to the programme, choice of courses or employment offers do not lock you in for a lifetime. There are enough ways to change course if you find that you do not enjoy what you are doing.
Which brings me to my last point. Enjoy yourself in the two years at B- school. These are times you will never get back. Case studies, group discussions, presentations, and management fests are all excellent opportunities to have enjoyable learning in teams or alone. They can be very exciting, stimulating and challenging. Never, never lose out on this chance by worrying about issues that do not matter or are outside your control."
