Tuesday, March 27, 2012
Explore, Dream and Discover
“20 years from now, you will be more disappointed by the things you didn’t do, than by the one’s you did do. So throw off the bow line. Sail away from the safe harbour. Catch the trade winds in your sail. Explore. Dream. Discover.” - Mark Twain
Monday, March 26, 2012
What Can Be Done To Get The Most Out Of An MBA Program?
An MBA program is a huge commitment in terms of time and money. It exists to provide students with valuable business tools to ensure success in the workplace. But all the tools in the world become meaningless and useless until we learn how to use them effectively. However, more often than not, students who are doing their MBA courses miss out on the programs total effectiveness rendering it useless in practical life. By the time the program is completed and the person takes up a job, many of the theories he or she learnt at the job might be redundant if it is only theoretical knowledge that the student has gained. Therefore, what is required is absorption of practical knowledge along with theoretical information and problem solving skills.
An MBA degree once conferred upon an individual is like a passport to a new life as it can open many doors. However, a managerial position in any organization calls for certain skills which need not catch a new employee by surprise. If the program is fully exploited then it is likely that the transition from student to employee can be a smooth one with no unexpected surprises or jerks.. A few tips to get the most out of an MBA course are as follows:
1. Learn by practice
A lot of times studying happens when the exams are nearing and at that time it is likely that what is learnt is only stored for immediate recall during the exams. Information crammed in the last minute is not assimilated and therefore will not be available when required. The best way to derive maximum benefit from an MBA program is to study with interest and learn to acquire knowledge. Since the curriculum is designed to suit current organizational requirements, knowledge acquired during the program will help the student to manage real-life situations as and when they crop up.
2. Interaction with the faculty
MBA faculty definitely come with the knowledge and experience which makes them a unique, class apart group of people. These people by being available in a classroom are giving students the valuable opportunity to ask questions, learn and share their experiences and this is a great opportunity for MBA students provided they realize the potential behind the same.
3. Interaction with visiting faculty
Visiting faculty normally hold senior, existing positions in the corporate world and they are a window into an unknown future for students. Through their eyes, they can see into this world and learn about it even before they enter it.
4. Practical lessons like business plan preparation
An MBA program helps the student to actually evolve a business plan through the course. Once again, all practical lessons are not created just to acquire marks. They are a tool to understand how to perform in the corporate world and thus they needed to be treated as such.
Along with the above skills, during an MBA program one can develop his or her communication, interpersonal, presentation, time management and interviewing skills which are all extremely important survival aids in the corporate world.
An MBA degree once conferred upon an individual is like a passport to a new life as it can open many doors. However, a managerial position in any organization calls for certain skills which need not catch a new employee by surprise. If the program is fully exploited then it is likely that the transition from student to employee can be a smooth one with no unexpected surprises or jerks.. A few tips to get the most out of an MBA course are as follows:
1. Learn by practice
A lot of times studying happens when the exams are nearing and at that time it is likely that what is learnt is only stored for immediate recall during the exams. Information crammed in the last minute is not assimilated and therefore will not be available when required. The best way to derive maximum benefit from an MBA program is to study with interest and learn to acquire knowledge. Since the curriculum is designed to suit current organizational requirements, knowledge acquired during the program will help the student to manage real-life situations as and when they crop up.
2. Interaction with the faculty
MBA faculty definitely come with the knowledge and experience which makes them a unique, class apart group of people. These people by being available in a classroom are giving students the valuable opportunity to ask questions, learn and share their experiences and this is a great opportunity for MBA students provided they realize the potential behind the same.
3. Interaction with visiting faculty
Visiting faculty normally hold senior, existing positions in the corporate world and they are a window into an unknown future for students. Through their eyes, they can see into this world and learn about it even before they enter it.
4. Practical lessons like business plan preparation
An MBA program helps the student to actually evolve a business plan through the course. Once again, all practical lessons are not created just to acquire marks. They are a tool to understand how to perform in the corporate world and thus they needed to be treated as such.
Along with the above skills, during an MBA program one can develop his or her communication, interpersonal, presentation, time management and interviewing skills which are all extremely important survival aids in the corporate world.
Monday, March 19, 2012
What Are The Best Options For An Engineer For Higher Education?
An engineer who views his stream as an opportunity to earn his living will definitely not want to pursue higher education simply because the whole process of studying engineering itself calls for a lot of commitment and sacrifice. The course requires concentration; it is challenging and leaves a student with very limited time for extra- curricular activities. Obviously students look forward to embarking on a career and do not want to be burdened with heavy studying for another couple of years. However, for some people, engineering is not a vocational program. It is, in fact, their call in life. They are those who can be called born engineers who have an active left brain making them analytical thinkers and problem solvers. For such people, a graduation program provides them with basic knowledge which only sets their mind on fire for more knowledge. For these engineers, options are to pursue an MS and then later a PhD in engineering.
Going back to school to earn a PhD in engineering or IT is a major commitment. For some it's an obvious decision, but for others it takes more consideration. Depending on long-term career goals, getting a PhD may be an essential step on a career path. Before one decides whether or not to pursue a PhD, it is important to first understand what it entails.
A PhD program one must remember is a multi-year project which calls for self-reliance, discipline and commitment. It is not about classroom studying and instead it is about innovating and problem solving. A perfect program for a technology driven individual.
"If you want to do highly analytical and specialized work such as operations research, artificial intelligence or nuclear physics in industry or in academia, a PhD is often required," says Melissa Lawrence, director of human resources, ITA Software, Inc. in Cambridge, Mass. "If you want to solve interesting computer science problems, a PhD might be an asset, but would not be required."
Lawrence adds that in her experience, technical graduate degrees are more important if you want to be on a technical career track as opposed to a management career track.
So does this mean that others should not pursue higher education after their engineering?
Not really. In fact, for those who have viewed their engineering program as vocational training will benefit largely by pursuing an MBA program as an MBA program offers them variety within the cachet of jobs available for engineers. They can choose programming, testing, designing or they can even move into business development, sales and marketing.
Dr. Andres Fortino, dean of Polytechnic University's Westchester campus in New York, says that advanced degrees represent educational opportunities for transformation, which training experiences do not always provide. "Obtaining an advanced degree prepares one to develop a new mind set and a deeper knowledge of a subject."
When to pursue higher education
Deciding whether to pursue a higher education program right after college or after a few years working in the field is another choice one must make. There is no "right" time to go to grad school, but for those interested in becoming a professor or doing research, it is perfect that they do this as a continuous process without breaking the pattern.
Combining work and school is also an option. "These days going to school part time while working is much easier than it once was," Fortino says. "The economics of earning a salary while having some or all of your education paid for by an employer offsets any sacrifices that are made in your personal life."
Keep in mind that experience is especially important when considering graduate school as a way to change one’s career focus. "If a technical person wants to switch to management, it is definitely better to wait five to six years to accumulate enough work experience to pursue the transition into a manager or business person," says Fortino. "Most schools require that much work experience in their MBA candidates, for example."
"From a hiring perspective, I like to see people take a break between undergraduate and graduate school," says. "I think gaining real-world experience makes employees more balanced graduate students and eventually more well-rounded employees. For most positions at our company, too much theoretical work and too little industry experience can be a detriment."
Going back to school to earn a PhD in engineering or IT is a major commitment. For some it's an obvious decision, but for others it takes more consideration. Depending on long-term career goals, getting a PhD may be an essential step on a career path. Before one decides whether or not to pursue a PhD, it is important to first understand what it entails.
A PhD program one must remember is a multi-year project which calls for self-reliance, discipline and commitment. It is not about classroom studying and instead it is about innovating and problem solving. A perfect program for a technology driven individual.
"If you want to do highly analytical and specialized work such as operations research, artificial intelligence or nuclear physics in industry or in academia, a PhD is often required," says Melissa Lawrence, director of human resources, ITA Software, Inc. in Cambridge, Mass. "If you want to solve interesting computer science problems, a PhD might be an asset, but would not be required."
Lawrence adds that in her experience, technical graduate degrees are more important if you want to be on a technical career track as opposed to a management career track.
So does this mean that others should not pursue higher education after their engineering?
Not really. In fact, for those who have viewed their engineering program as vocational training will benefit largely by pursuing an MBA program as an MBA program offers them variety within the cachet of jobs available for engineers. They can choose programming, testing, designing or they can even move into business development, sales and marketing.
Dr. Andres Fortino, dean of Polytechnic University's Westchester campus in New York, says that advanced degrees represent educational opportunities for transformation, which training experiences do not always provide. "Obtaining an advanced degree prepares one to develop a new mind set and a deeper knowledge of a subject."
When to pursue higher education
Deciding whether to pursue a higher education program right after college or after a few years working in the field is another choice one must make. There is no "right" time to go to grad school, but for those interested in becoming a professor or doing research, it is perfect that they do this as a continuous process without breaking the pattern.
Combining work and school is also an option. "These days going to school part time while working is much easier than it once was," Fortino says. "The economics of earning a salary while having some or all of your education paid for by an employer offsets any sacrifices that are made in your personal life."
Keep in mind that experience is especially important when considering graduate school as a way to change one’s career focus. "If a technical person wants to switch to management, it is definitely better to wait five to six years to accumulate enough work experience to pursue the transition into a manager or business person," says Fortino. "Most schools require that much work experience in their MBA candidates, for example."
"From a hiring perspective, I like to see people take a break between undergraduate and graduate school," says. "I think gaining real-world experience makes employees more balanced graduate students and eventually more well-rounded employees. For most positions at our company, too much theoretical work and too little industry experience can be a detriment."
Monday, March 5, 2012
Should Bachelors Degree Be Done From Abroad?
There was a trend some years ago when Indian students chose to go abroad for higher education but now the trend is shifting with students going abroad to not only pursue higher education but even to complete their basic graduation. Statistics reveal that the number of Indian students opting for Bachelors or under graduation programs abroad is showing a significant 13 percent year-on-year growth.
One of the main deterrents for obtaining a bachelors degree abroad is that in most countries bachelors programs are of four years duration while in India it is only three years. The second factor is cost and a bachelors program abroad could be quite expensive compared to a similar program in India. When it comes to MBA, the decision becomes easy as brand value enhances job potential and students are willing to travel and spend more to obtain MBA's from recognized universities abroad. However, as far as bachelors programs are concerned there is no real data to indicate that an international bachelors degree can attract better jobs in India versus the same degree being obtained from a college in India.
However, for students who wish to continue to study abroad, starting at graduation level makes sense as it attunes them to a foreign environment earlier and makes for better adaptability. If, for example, a student wishes to procure an MBA degree, completing one’s graduation in an average Indian college may make it difficult to obtain an MBA seat in terms of competitiveness. However, studying abroad helps the student by providing him or her the advantage of a recognized bachelors degree making the whole admission process for an MBA program easier.
Looking at it objectively, the following are the points you need to consider:
Choice and Flexibility
International universities to remain on par with the best ensure that their campuses, faculty and education level math the best. They provide for an international learning experience which cannot be obtained at home and this makes a big difference in terms of learning experience.
Career Advantages
Studying and living in another country gives first-hand international experience which sets one apart from other job candidates. Companies look for global-ready graduates who have the skills to adapt to a global work culture.
Affordability
With the ability of shorter term programs, the cost of living being on par with the U.S., and a favorable exchange rate, studying abroad is surprisingly affordable. Cost is often on par or less than out-of-state tuition.
Unparalleled Student Experience
Students who graduate in America benefit from learning about the lifestyles and cultural differences and this makes it easier to live abroad if one’s job requires them to do so. They now have the advantage of being born Indian but becoming a global citizen.
Graduation from Europe, Australia, New Zealand and the United Kingdom once again provides for standards of excellence in education systems which are crafted around independent learning, creativity and innovation – skills required for survival in the corporate world.
Culturally enriching a student learns and absorbs the culture of a country far different from his own, giving one’s mind the expanse to dream beyond confines. An open mind enables out-of-the-box thinking and helps the student to succeed in whatever field he or she chooses in life.
One of the main deterrents for obtaining a bachelors degree abroad is that in most countries bachelors programs are of four years duration while in India it is only three years. The second factor is cost and a bachelors program abroad could be quite expensive compared to a similar program in India. When it comes to MBA, the decision becomes easy as brand value enhances job potential and students are willing to travel and spend more to obtain MBA's from recognized universities abroad. However, as far as bachelors programs are concerned there is no real data to indicate that an international bachelors degree can attract better jobs in India versus the same degree being obtained from a college in India.
However, for students who wish to continue to study abroad, starting at graduation level makes sense as it attunes them to a foreign environment earlier and makes for better adaptability. If, for example, a student wishes to procure an MBA degree, completing one’s graduation in an average Indian college may make it difficult to obtain an MBA seat in terms of competitiveness. However, studying abroad helps the student by providing him or her the advantage of a recognized bachelors degree making the whole admission process for an MBA program easier.
Looking at it objectively, the following are the points you need to consider:
Choice and Flexibility
International universities to remain on par with the best ensure that their campuses, faculty and education level math the best. They provide for an international learning experience which cannot be obtained at home and this makes a big difference in terms of learning experience.
Career Advantages
Studying and living in another country gives first-hand international experience which sets one apart from other job candidates. Companies look for global-ready graduates who have the skills to adapt to a global work culture.
Affordability
With the ability of shorter term programs, the cost of living being on par with the U.S., and a favorable exchange rate, studying abroad is surprisingly affordable. Cost is often on par or less than out-of-state tuition.
Unparalleled Student Experience
Students who graduate in America benefit from learning about the lifestyles and cultural differences and this makes it easier to live abroad if one’s job requires them to do so. They now have the advantage of being born Indian but becoming a global citizen.
Graduation from Europe, Australia, New Zealand and the United Kingdom once again provides for standards of excellence in education systems which are crafted around independent learning, creativity and innovation – skills required for survival in the corporate world.
Culturally enriching a student learns and absorbs the culture of a country far different from his own, giving one’s mind the expanse to dream beyond confines. An open mind enables out-of-the-box thinking and helps the student to succeed in whatever field he or she chooses in life.
Monday, February 27, 2012
Is an MBA Program from Europe Better Than an MBA Program from USA ?
When it comes to choosing a world-class MBA program, the dice still falls in favor of the United States which is after all more than 100 years old. But things are changing now and a glance at numbers suggest that more and more business schools across Europe, Asia and Australia are attracting the best students and faculty from across the world. To remain competitive and be on top these same institutes are willing to spend more time and money ensuring that their faculty and campus are top quality.
But what are the real pros and cons between choosing an MBA program in America, or any of the ever-increasing breadth of courses offered in Europe? And what are the significant differences between American and European MBA programs?
In terms of the growth in students and ranking, Europe is fast catching up to the United States. Promising to simplify degree qualifications and nomenclatures, the 1999 Bologna Accord has added some uniformity to European higher education. The purpose of the Bologna Process (or Bologna Accords) is the creation of the European Higher Education Area by making academic degree standards and quality assurance standards more comparable and compatible throughout Europe, in particular under the Lisbon Recognition Convention. It is named after the place it was proposed, the University of Bologna, with the signing in 1999 of the Bologna declaration by Education Ministers from 29 European countries. About 46 countries including all the 27 members of the European Union, with the exception of Armenia, Azerbaijan, Belarus, Georgia, Moldova, San Morino, and the Ukraine have decided to adopt the Bologna Accord this year – 2010. The continental business education market has grown as a result, particularly for Masters in management courses.
With more than 500 MBA programs being offered in Europe and nearly 700 in the United States it is still a tough choice for students to decide which continent to go to. But what are the basic differences between the two regions? Speaking generically, schools in the U.S. are much larger with an average student strength of nearly 300 while in comparison European schools have an average student population of around 125 for an MBA program. The second distinct difference is the length of the program. Typically speaking a European MBA is one year in length while a U.S. program runs for two. Leading and well reputed American business schools might have more world renowned faculty than European schools but that does not necessarily make the programs superior. The faculty might be famous but may not be actually great teachers and also with busy careers the amount of time they devote to students might be extremely limited.
An important difference is that European schools have a significantly higher percentage of non-national students and faculty members than their American counterparts. Of the top business schools in the United States - Wharton, Columbia and Harvard - roughly 33 to 45 percent of students came from abroad. That figure is close to 90 percent at some of Europe’s top-ranked business schools, including London Business School and INSEAD. A survey of the proportion of overseas faculty members at those schools reveals a similar trend.
Clearly, differences in MBA programs reflect the differences in national and regional business cultures. But like globalized business, b-schools around the world are becoming more alike each year, with many school’s developing globally-focused curricula. Meanwhile, dozens of new trans-national partnerships are developing between US, European, and Asian business schools.
Wherever one chooses to study, doing an MBA abroad is arguably the best-possible introduction to business life in that country. And most would agree that taking up the challenge of studying abroad cannot be only financially rewarding, but personally rewarding, too.
But what are the real pros and cons between choosing an MBA program in America, or any of the ever-increasing breadth of courses offered in Europe? And what are the significant differences between American and European MBA programs?
In terms of the growth in students and ranking, Europe is fast catching up to the United States. Promising to simplify degree qualifications and nomenclatures, the 1999 Bologna Accord has added some uniformity to European higher education. The purpose of the Bologna Process (or Bologna Accords) is the creation of the European Higher Education Area by making academic degree standards and quality assurance standards more comparable and compatible throughout Europe, in particular under the Lisbon Recognition Convention. It is named after the place it was proposed, the University of Bologna, with the signing in 1999 of the Bologna declaration by Education Ministers from 29 European countries. About 46 countries including all the 27 members of the European Union, with the exception of Armenia, Azerbaijan, Belarus, Georgia, Moldova, San Morino, and the Ukraine have decided to adopt the Bologna Accord this year – 2010. The continental business education market has grown as a result, particularly for Masters in management courses.
With more than 500 MBA programs being offered in Europe and nearly 700 in the United States it is still a tough choice for students to decide which continent to go to. But what are the basic differences between the two regions? Speaking generically, schools in the U.S. are much larger with an average student strength of nearly 300 while in comparison European schools have an average student population of around 125 for an MBA program. The second distinct difference is the length of the program. Typically speaking a European MBA is one year in length while a U.S. program runs for two. Leading and well reputed American business schools might have more world renowned faculty than European schools but that does not necessarily make the programs superior. The faculty might be famous but may not be actually great teachers and also with busy careers the amount of time they devote to students might be extremely limited.
An important difference is that European schools have a significantly higher percentage of non-national students and faculty members than their American counterparts. Of the top business schools in the United States - Wharton, Columbia and Harvard - roughly 33 to 45 percent of students came from abroad. That figure is close to 90 percent at some of Europe’s top-ranked business schools, including London Business School and INSEAD. A survey of the proportion of overseas faculty members at those schools reveals a similar trend.
Clearly, differences in MBA programs reflect the differences in national and regional business cultures. But like globalized business, b-schools around the world are becoming more alike each year, with many school’s developing globally-focused curricula. Meanwhile, dozens of new trans-national partnerships are developing between US, European, and Asian business schools.
Wherever one chooses to study, doing an MBA abroad is arguably the best-possible introduction to business life in that country. And most would agree that taking up the challenge of studying abroad cannot be only financially rewarding, but personally rewarding, too.
Monday, February 20, 2012
Is It Worth Spending Over Rs.20 Lakhs For An MBA Program Abroad?
An MBA costs a lot of money and requires effort. For those who are aiming for B-schools abroad, the fact to be remembered is that these programs can cost upwards of Rs.20 lakhs. So the question which crops up is, is it worth?
To answer this question one needs to look at both the short term and long term advantages of studying abroad and then mapping these to one’s personal expectations from an MBA. Some of the key advantages of a foreign MBA are:
Internationalization: Foreign universities have students from all over the world. So, from the word `go’ it is global exposure in terms of interaction. This sets up a student for a global work atmosphere which is key to landing a job with a good international organization. A typical classroom might have around forty students from diverse cultures and backgrounds and this is one of the most remarkable benefits of studying abroad.
Exposure: An MBA abroad would mean relocation to a foreign country and this gives students the added advantage of living in a foreign country and adjusting to the culture and life style there. This preps up the student for a future in which it might be necessary to live abroad or travel frequently.
Course structure and faculty: One of the key factors which can influence this decision positively is the faculty in international B-Schools. Highly literate and from diverse backgrounds, the faculty comes with the exposure and experience to recount global case studies and international experiences giving students the rich exposure that a program such as this rightly deserves.
Cost: is a large deterrent when deciding to procure an MBA abroad, but when you look at the job opportunities as well as the salary structures which await international MBA students then this factor diminishes and loses its importance. A typical post-MBA job abroad might get a salary of US$100,000 which works out to approximately Rs.45 lakhs. When weighed against an investment of say around Rs.20 lakhs, it makes monetary sense to opt for a program which ensures that your efforts were worth it.
Better Compensation: Senior level roles offer greater compensation and there is proof that an international MBA in a CV can result in salary growth along with a great starting salary. The top ranked schools in the FT Global MBA rankings reported increases in salary of over 100% and all schools, in the 100 schools ranking, reported increases of over 50%.
Career propulsion: An MBA abroad sets up a student for a career jump in India as students with international MBAs are wanted and offered good positions in leading organisations. Also, if the student is looking for a career abroad, then it is extremely likely that an international MBA will be favoured more than a local one. Thus, an MBA abroad ensures that the student lands his or her dream job soon after completion of the program.
However, while all these reasons make great professional strength, the most important question to be asked is not whether it is worth spending Rs.20 lakhs but more importantly, will this program help me to achieve my personal goals. So while the answer to this question remains personal, overall it makes huge sense to go for an MBA abroad.
Monday, February 6, 2012
In Today’s Economy Should An Engineer Pursue An MS Or An MBA?
Most if not all students who are completing their engineering do wonder what they need to do after their engineering, i.e. pursue education or take up a job. If it is pursuing higher education, there is always confusion on what to study. One key factor triggering this trend to pursue higher education is the global recession which has made the job market tighter. Mere engineering graduation is not enough to land a good job.
However this question should not be based on the value of the degree but more on what the person wishes to do. If an engineer does not wish to become a manager ever but would prefer to climb the technology ladder or pursue academics as a career option, it is obvious that an MBA would be a wrong choice and an MS makes more sense. However, if the engineer views his future in a managerial position where he or she will manage an end-to-end project or business center then an MBA is required. This is the best way to take the first step in deciding whether to choose an MBA or MS.
To help make a decision listed below are some of the key differences between the two programs for an engineer. An MS is a continuation to the engineering stream and provides for more in-depth knowledge. If the graduation has been completed in one’s own country, an MS in a foreign country adds to one’s resume’s weightage even as it provides a new experience of living abroad. MS is also more cost effective than an MBA.
MBA on the other hand is a brand new stream and therefore requires a paradigm shift in learning as the subjects, course content and even the way the course is conducted is very different from an engineering program. It is also a sure way to ensure a managerial position in an organisation. Engineers who obtain an MBA can move away from hard core programming and testing jobs to jobs in marketing, sales and business development where there is less programming but more opportunity to meet and interact with customers. This becomes especially interesting if the company’s customers are international as it provides for frequent travel to international locations. Engineers too get to travel to customers’ centers but it is more towards the final stages of a project when the call of duty can be stressful.
Another factor to be considered when deciding whether to pursue an MBA or an MS is the basic personality type of the person! A technology oriented person who is introverted and prefers to spend a lot of time in solving problems may find that MS provides that additional knowledge to understand and resolve engineering challenges. An outgoing personality may find a pure, hard core programming job lonely and depressing. Choosing a job profile which clashes with one’s personality is to set one up for failure in the long run. Hence people with more outgoing personalities will do well to pursue an MBA as the field opens up to choose different job streams within an engineering environment.
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