The 'Right' Time to do MBA is 'Anytime'

Let’s face the reality! The times are rough right now, and the hiring mood is not very upbeat. For students across professional streams, these times can be really confusing. Even for professionals looking to pursue MBA, the big question is: ‘Should I or shouldn’t I?’

Too often, we question whether it’s the right time to pursue an MBA by considering job prospects and economic opportunities. However, a volatile economy in rough times is perhaps the best time to study macro-economics, strategy, change management, mergers and acquisitions (M&A), and other core MBA courses. While external instability in the financial markets and global economic uncertainty make us uneasy and insecure, they also turn the world into a great classroom laboratory, and give genuine meaning to problem-based readings. In the end, these patterns are cyclical, or at least repetitive, to some extent.

There is no ‘market timing’ for pursuing an MBA degree. Given applicants’ personal situation and goals, they need to determine for themselves ‘which type of MBA programme’ is best suited to their needs rather than ‘when to do MBA.’ However, while pursuing MBA, the students have to keep in mind some considerations such as where they currently are in terms of their career, what their goals are in getting an MBA, etc. Dipak Jain, Dean of the Kellogg School of Management at Northwestern University, and a visiting professor at the Indian School of Business (ISB), Hyderabad, says, “The right time to do an MBA is when you are mentally prepared to start the journey. External market conditions need to be factored into your decision, but they should not be the driving decision. Conditions come and go, but the MBA degree will continue to be of enduring value. We believe that intellectual curiosity and learning should be your guide in the journey ahead.” 1

The best time to sharpen your skills is ‘now.’ Upgrade your skill-sets and make yourself more relevant and attractive to the job market. MBA should not merely be done to kill time. While looking to do an MBA, the intention of the aspirant should mainly be to increase his/her skills and to get ready to explore other career options. You have to develop a serious attitude towards the MBA degree to derive anything out of it.

It is important to set your expectations from MBA education in the right place. You should remain confident that the MBA programme will definitely provide a net value-addition to your profile, and make you more attractive to employers in the next two years. The MBA is a very comprehensive programme that exposes students to diverse aspects of management such as general management, marketing, human resources, leadership, entrepreneurship, corporate strategy, finance, etc. MBA education focuses on creating a structure for unstructured business problems.

Acquiring additional skills will enable your return to a better salary and job-designation level than you were at before the slowdown. Management education acts as a balance between theory (i.e. academic rigour) and practice (i.e. business relevance). MBA students are exposed to the state-of-the-art research and innovative practices by engaging them in experiential learning through real-world projects with global corporations. Such comprehensive training will only enhance the chances of students in achieving their desired career goals and opportunities – regardless of economic conditions globally. Given the growing demand for efficient managers around the world, an MBA is an education as well as a qualification. Remember that the recession is not permanent, and whenever the situation improves, your newly acquired skills will become a trump card for you in the job market. For instance, those who are in sales could pursue an MBA in finance and strategy, and thus become employable for bigger and challenging roles in the future.

Therefore, an MBA degree is very important for anyone, and more so, for entrepreneurs, because it helps them in acquiring both analytical and people skills that they can apply to future ventures.

In case, you are a student whose offer letter was recalled due to the slowdown, you could still go for an MBA. Since it will be difficult to get job-experience before the MBA, one could look at pursuing a part-time job in an industry of choice, while pursuing a part-time MBA. There are many good B-schools that offer part-time executive courses and other MBA courses. You can choose the one that suits you the best.

If you are already employed, it may be a good idea to convince your employer to sponsor you for an MBA. If you are a valuable resource, and the organization wants to retain you, they will help you develop yourself. This way, you would not have to dent your financial pocket to go for the MBA. Otherwise, you can always avail educational loans that are readily available, and would need to be repaid only after you have secured a job.

If you are convinced you want to work in a particular sector, then a specialist degree would be the best way to guarantee that. But, if you are not sure, then an MBA gives you the opportunity to explore your options. There is still a strong demand for MBA graduates because of the increasingly complex business problems faced today by managers across the world.

There are different reasons for getting an MBA. An MBA prepares you for life, equips you with the necessary managerial skills, gives you the credibility and global alumni network that is invaluable, whether you choose to work for someone or establish your own business. The research surveys done in the past show that even those MBAs who graduate in very difficult years eventually get very good jobs. Substantiating this view, Della Bradshaw, Business Education Editor of Financial Times, says, “The class that graduated in 2002, for example, often ended up taking jobs on graduation that paid lower salaries than the jobs they had quit before doing the programme. But three years after graduation – when we surveyed them for our rankings – they were earning salaries comparable to those reported by their peers in previous years.” 2

Due to globalization, the demand for talent has increased significantly. The MBA is becoming more and more relevant in an ever-changing global market. Irrespective of economic conditions, the market is always looking for top talent. Even during the economic downturn in the wake of September 11, 2001, more than 90 percent of MBA graduates found a job. Therefore, students should focus on learning both in the classroom and through collaborative teamwork. This will help them in developing critical and relevant business and leadership skills that will set them apart, and make them valuable for corporations seeking talent.

Banks and financial institutions still seem to be interviewing MBA graduates for financial positions and for internships. Following the 2001 recession, many of the banks and consultancies understood that not bringing any new blood into the organization piled up problems for the future. This year, there seems to be a far wider range of financial institutions looking for MBAs – it is no longer just the investment banks.

An MBA degree is definitely growing in relevance in today’s world, and employers would look for more MBA graduates to cater to the increasing need for higher-level skill-set in performing highly complex businesses today. An MBA degree enables you to encounter new opportunities otherwise beyond your reach (i.e. working overseas, catapulting your career, etc.). Increasing number of people are pursuing higher studies today. Thus, to stay competitive in the job market, it is almost ”necessary” to get an MBA.

Emphasizing the need to get an MBA degree, Dipak Jain, says, “The MBA degree is relevant now more than ever. Globalization today is almost like a force of gravity, and it’s essential that managers are equipped with the right tools and foundations of managerial skills to lead in an ever-changing and challenging business environment.”3 Professor Richard Painter, the Dean of the business school at Staffordshire University (UK), agrees: "In an economic slowdown, applicants need an edge over their competitors. So the slowdown, in a sense, increases the importance of a significant postgraduate qualification in business." 4

MBA education is an investment for a career spanning more than 30 years. It is important to secure an education that is of the highest quality in a world-class school. The benefits of such an education would easily compensate for the cost. With the MBA, you will be adequately armed, and your chances will improve amidst the strong competition that you would face in the job market. Also, the knowledge that you acquire during the course will help you become a better professional in terms of crisis-handling, decision-taking, problem-solving, creative-thinking, and in overcoming many other business challenges that form part of the MBA curriculum. Thus, your chances of succeeding in your career would also increase manifold.

Slum Dog Millionaire - Do they damage India's Image?

In today’s era of globalization, India is shining on the world’s map in almost every sphere. Indian film industry is the second largest film industry of the world. It produces more than six thousand movies on an average per year which is a milestone in itself. The Indian film industry is crossing borders and, bringing fame and recognition for the motherland. Our actors are now being widely recognized and possess a strong global image. Actors like Amitabh Bachchan, Om Puri, Naserudin Shah, Salman Khan, Ashwarya Rai Bachchan are no more mere Indian film stars but are successfully a part of English cinema. Shah Rukh Khan is the most popular name of the entire world’s entertainment industry and according to the survey reports of 2006-2007 he is the world’s most popular star in terms of fan following even ahead of Tom Cruise. Ashwarya Rai Bachchan has taken the Indian film industry beyond boundaries and spread the message of Indian women upliftment and power across the globe.

I therefore strongly condemn that the films like Slum Dog Millionaire damages India’s image anywhere rather it has proved a platform of bringing close the world’s two top most entertainment industries. Now the world outside India has acknowledged India’s film industry’s potential and their actor’s caliber and acting skills which were considered underdogs always. This film has begged four Golden Globe awards and won ten nominations at the Oscars is itself a benchmark for the Indian cinema. The appreciation A.R. Rehman and Anil Kapoor got from the international film critics and media is an award not only for them but for the entire nation. A.R. Rehman says prior to my wining the Golden Globe none of the international media personals wants to have my solo photograph but after winning the award I am flooded with the requests for the same and interviews. This shows that now the respect for the Indian talent is growing and the world has accepted that we are at par with them.

India’s image is not dependent on what is shown in one odd film and even not on the virtue of what one film does but it is on the continuous process of hard work in every field India takes part into. The coming of foreign directors and production houses to work with India is a clear indication that the west has finally started accepting us at an equal platform. After the days Lagaan has been nominated at the Academy Awards the outlook of the Indian film industry has changes and the business prospects boomed by leaps and bounds. The scripts of movies like Lage Raho Munna Bhai, Rang De Basanti, Dil Chahta Hai is called for to be kept in the Oscar’s Library. It is again an accomplishment for India.

Slum Dog Millionaire is a huge hit around the globe. It has a story about Indian soil and Indian boy becoming a millionaire from a slum. No one can deny the fact that the movie shows a hard picture of Indian slums and portray the ground realities of happenings of the economic capital where as an optimistic view of seeing it is that the movie simultaneously shows the growth of the capital with its skyscrapers and scenic beauty of India. This is what India is famous for. The movie also uses some hard language spoken by policemen but it is the demand of the script. There are thousands of Hollywood movies which portray USA and UK as a land of torture and exploitation but that does not mean that these countries become that. A large number of English films directed, produced and written by their best industry personals shows their policemen as the men of torture and speaking foul words but it does not anywhere shake the confidence of the people for them. One should understand that sometimes there is a demand of the script for these things to bring in the real character on screen. The country’s image is independent of all these things and it does not stop prospering by virtue of them where as it depicts a free society and freedom of expression.

The unique signature style of the Indian film industry is its music and songs; Slum Dog Millionaire has shown this to the world in real words. An Indian winning a prize for original composition at Golden Globe and winning three nominations at the Academy Awards is a great thing which has not happened for years. The acting, signing, music composition and lyrics which India is famous for is now being recognized by the world. The signing of a multimillion deals between Anil Ambani’s Big Picture (Adlabs) and Stephen Spielberg shows India’s strong hold in the industry. Walt Disney’s coming to India, Sylvester Stallion’s acting for Indian films. Jacky Chen’s dancing with bollywood beauty Mallika Sherawat, Ashwarya Rai Bachchan being a part of Pink Panther 2, Barbara Mori coming to India to act with Hrithik Roshan in Kites are some good examples of India’s entertainment industry’s position in the business.
The fact of the matter is, Slum Dog Millionaire has taken India to the highest level of recognition and now the English cinema has finally started changing their face towards us and they feel proud to take up our stories and make movies out of them. On the other hand it ensures a great business for both the parties

Change - What America and the whole world is hoping for

The word “CHANGE” now has a new synonym “OBAMA”. Barack Hussain Obama’s rise to the head of the world’s most powerful throne marks a new dimension in the world’s history.

Going back to some years back, America was recognized as the nation of “whites”. They were the power holders in almost every important and essential field. There was racial discrimination to huge level, which still exist to some extent. The “blacks” who lived in the United States of America were treated as the lower class and were the decision-takers, not decision-makers. The difference existed in the thinking of the Americans, which considered themselves superior and the real natives of their state. So, it was almost not possible to treat equally, the blacks and whites, as any cannot curb the people’s thinking.

But now the time has changed. It has become powerful enough to witness the change in people’s thinking. Now, many Americans (if not all) are ready to accept the truth for the better. They have understood the fact that progress lies in intelligence and not in hippocracy. Definitely, it starts a new era of change which brings hope, equality and happiness.

The oath ceremony of Mr. President (Barrack Obama) was attended by millions of people, who gathered to become eye-witness of America’s first turning point event for which they have hoped for years. Some watched live, while others of different countries were glued to their television sets. This was the largest gathering ever, to attend any US President Oath ceremony. Also around a whooping amount of 750 crores (Rs.) were spent on the occasion. These facts just emphasize the importance of the event for the people all around the globe.

Obama in his first presidential speech stated that he became the president of that land where some years back his father was refused to be served. This points to change. People disappointed with the previous administration, voted with the hope of better policies for their welfare and also for the global audience. America’s policies on Iraq, CIA’s special cell of those captured in Iraq and its inhuman torture to them were just some of the acts which met with great opposition, not only from the other countries but from the American’s too. So, people wanted a new dimension to walk on and with Obama’s entry with solutions to them, he definitely promised change.

To the world of terrorism, Obama so far has spoken harsh tongue. He has put his views forward in a crystal clear manner and being diplomatic, a trait rarely found in politicians. In his first presidential speech, he called “Afghanistan and Pakistan” the main concern of the world, as far terrorism is concerned. The gradually increasing influence of the Taliban is on Pakistan territories pose a threat not only to Pakistan but to the whole world. He pointed directly to the extremists and warned them, stating that ultimately the good will prevail and they will have to taste the defeat. One of the main “dart” on the previous Bush administration was the way by which they handled the whole Iraq dilemma. There was great resentment among the people who declared it as an oppressive step. Obama has vowed to establish a stable government at Iraq and to destabilize the troops from there gradually. With this act, a large amount of funds will also be saved as the maintenance and prevalence of the troops in Iraq require a huge budget. So, in these phase (terrorism) also, Obama has come out with some convincing solutions.

Sometimes small acts do represent a man’s wisdom. Obama in his inaugural presidential speech called America the land of Christians, Hindus, Muslims, Jews and non-believers. This was the first time for any American president to take account of the non-believers, which are in fact in much larger number than the Hindus, Jews and Muslims. So, he definitely aimed at uniting all the people.

Obama has stepped up to the world’s most powerful office but ahead lies the test of wisdom, intelligence and ability. Time will only tell the extent to which he will succeed, but at least for now, he has lighted hope in people’s heart that they definitely will see a better “changed” world in future.