BUSINESS ADMINISTRATION AND MANAGEMENT DISCUSSIONS !!!

[m_23_bayarea]

Guys, I have been talking to some hubbers here, who are either managerial or aspiring to become one in the near future ... Due to some of your idea and requests, I decided to create this thread .... This will be a meeting point of information and valid discussions about the various areas of management including accounting, marketing, finance, business development, entrepreneurship, general managament ... :D

My vision for this thread is for it to serve as a knowledge base as well as a resource base for all the smart minds of today and tommorrow ... Feel free to put your input and all the intellectual property that you think might help us all ... Some of the links of interest include ...

http://management.about.com/

http://www.amanet.org/index.htm

http://en.wikipedia.org/wiki/Management

http://www.accounting.com/

http://www.knowthis.com/

http://fisher.osu.edu/fin/overview.htm

http://www.zeromillion.com/

http://eweb.slu.edu/

http://www.sba.gov/sbdc/

http://www.hbs.edu/units/gm/

http://www.sba.gov/

Feel free to jump in guys !!! Let's have some fun and knowledge here !!! :thumbsup: :thumbsup:

[rachel]

Feel free to jump in guys !!! Let's have some fun and knowledge here

:redjump: :bluejump:

[temporary sori-Observer]

:fishgrin: :fishgrin:

[ajithfederer]

Thanks a lot bay :thumbsup:

[Sanguine Sridhar]

Whoaa!! Bay i thought of creating such thread ..Thank you :D

[great]

First lemme jump in :redjump: :bluejump:

here you go

http://www.sharekhan.com/KnowledgeCentre/LearningInvest.aspx?ChapterID=7c8d6664-475c-4561-a373-29d6d1d7db84

These covers the basics of Financial Management with simple examples :thumbsup:

For daily news on Market and analysis
www.valueresearchonline.com
In out of MF has been explained in this site 8-)

More to follow :arrow:

[bingleguy]

instead of just discussing the links on the net ... lets talk about the management facts that we knew and we realized and also we wish to share :-) guess that makes more sense .... where practical knowledge plays !

Any inputs on this !

[m_23_bayarea]

instead of just discussing the links on the net ... lets talk about the management facts that we knew and we realized and also we wish to share :-) guess that makes more sense .... where practical knowledge plays !

Any inputs on this !

Very good feedback !!! :thumbsup:

YES !! Since it's not too easy to moderate this thread and keep it active on a daily basis, one of the activities could be ppl shooting their queries, and all of us will have a chance to shed some light with our own perspectives ...

That being said, one of the queries that I always had since I started my job is,

HOW TECHNICAL IS A BUSINESS ANALYST EXPECTED TO BE ??

Ppl who have been a BA or who have worked with BAs could definitely help me on this ... Of course, I have all the web info already !!! :D

[great]

Bay, why you wanna jump into greener pasture now itsself :wink:

Lets start from the basics of either finance / Marketing 8-)

[ajithfederer]

i concur with u :D

Bay, why you wanna jump into greener pasture now itsself :wink:

Lets start from the basics of either finance / Marketing 8-)

[great]

Why this thread is sleeping :roll:

[sgokulprathap]

some1 start a topic to discuss. :roll:

[bingleguy]

:roll:

Managerial Economics !

[selvakumar]

Why this thread is sleeping :roll:

coz every manager :hammer: on earth sleeps :mrgreen:

"Velai illaathavanthaan
Velai theriyaathavanda
veeramaanah velakaaran
vivakaaranamaana velakaaran"

-- Dedicated to all managers (past, present and future) 8-)

[sgokulprathap]

:roll:

Managerial Economics !
Managerial economics (also called business economics), is a branch of economics that applies microeconomic analysis to specific business decisions. As such, it bridges economic theory and economics in practice. It draws heavily from quantitative techniques such as regression and correlation, Lagrangian calculus, linear programming, decision theory, and game theory.

[nms]

Throw some light on "Basics of Accounting "..this subject is pulling me down

[Braandan]

Question from a layman:
What is meant by "managerial aspirant".. a person who really want to "manage" the affairs of a company (or a family) by making sacrifices and ready to even get a bad name and personal loss in the process or a person who simply wants to become a "boss" to others?
Because, many young managerial aspirants I met, really want to boss over others rather than really manage things!
(most do not know the difference).

Hubbers who try to answer me, be ready to answer more questions from me depending on your answers.

[Sandeep]

"Managerial aspirants" usually have many reasons some +ve and some -ve

+ve ones like
Strong belief in improving the functioning (family/business etc).
Desire to utilize your leadership/administrative/planing qualities.

-ve ones like
desire to escape from ground work
desire to "be the boss"

and also balanced once like
see it as a reward/recognision for your hard work and loyalty
aspirations based on seniority

Again many people see management primary as "Managing employees" which cannot be farther from truth. Personnel management as we know is only one stream of management. Others like Client management, Process management, Event management you don't get to "boss" anyone but is instead bossed by all.

Even in Personnel Management "bossing" is only one of your responsibility.

[ajithfederer]

Please be more specific in your question please...... :)


Throw some light on "Basics of Accounting "..this subject is pulling me down

[Ramakrishna]

---------

[ajithfederer]

it can be attributed as the science of how 2 use our scarce resources.... :D
Questions such as what to produce, how to produce and for whomto produce are discussed detailedly in Economics....

:roll:

Managerial Economics !

[sgokulprathap]

[tscii:629fff9327]India is like an uncaged tiger now: Kotler

Dr Philip Kotler, the marketing management guru was here in India recently. He networked and also launched an Asian edition of his marketing Bible ‘Marketing Management’. In a freewheeling discussion with Founder of Great Lakes Institute of Management in Chennai, Dr. Bala Balachandran, Managing Director of Pantaloon Retail, Kishore Biyani and Managing Director of Titan Industries, Bhaskar Bhat, he tells them what makes brands stand out in a consumer’s memory.

Excerpts from an interview given to CNBC-TV18

Q: In the first edition of marketing management, did you even think at that point how much the world would have changed in 2006?

Kotler: I was aware the world was changing continuously and people who forget that are going to be in trouble. But in 1967, I was interested in doing a better job for those people, who had marketing responsibilities to make better decisions. I don’t think our textbooks at that time provided guidance because they were basically descriptive, they were not decision oriented.

Q: What do you think is the most significant change that the marketing function has had to confront over these 30 odd years or so?

Kotler: Two things. One is to move from mass marketing to a very focused marketing. We’ve even moved down from mass to segments to niches to each individual customer. The second big changed is a shift from transactions. When I wrote my 1967 book, it was all about how to make a sale and it didn’t matter whether you kept the customer. Today, we can’t do that and it is all about building a relationship and in fact it is moving to a third stage, which is to build a co-partnership with the customer, we called that co-creating value with the customer.

Q: Customer retention and loyalty - is that perhaps the key task for the head of a company?

Bhat: Over the last 20 years, we have seen it change so significantly. I think it is both. First of all, there is so much under-penetration in most categories in India, leave aside the categories we are in. That new customer acquisition and retaining old customers are equally important because there is so much under-penetration and it is not just retaining through loyalty programmes. I think the loyalty programmes that we have seen are on one side. It is what you do at the point of interaction and it is about customer affection, which is a big challenge and I have seen that changed so significantly over the years. So, in short, customer acquisition as well as customer retention - both are important in the Indian context.

Q: You have said in past that it’s the customer who is giving you the ideas?

Biyani: Absolutely. We did not look at transactions. It is all about once you acquire a customer, he has to come into your store at least 12-18 times a year and how do we keep on increasing the ticket size and build on emotional relationship with him. Only because of that emotional relationship, the loyalty will come in. I think the emotional, empathy and the relationship which one builds with a customer is what is going to drive the loyalty.

Q: Do you think the companies are talking enough to the customers?

Kotler: First of all, there shouldn’t be talking, there should be listening to the customers. In fact, there is a method called spin method for all salesman to be trained in, which really starts with having two ears and one mouth that’s because you have to listen twice as much as you speak. But many companies unfortunately, used it as a kind of a statement that they are customer-oriented and all that and yet there was no difference between two or three entities in the market.

Take a bunch of banks - they are all customer-oriented but the real problem is to try to figure out how to brand yourself. It would mean something special to the kinds of customers you really want. I agree that we don’t want a lot of customers and in fact we are going to do a good job of dissatisfying them, by claiming that we can serve them! So, we have to choose our customers and then give them such a service that they may say it’s a wow service. Some of us think we must put our customers into a state of delight, astonishment, maybe even ecstasy.

Q: In your visit to India this year, you have met with a cross-section of the captains of the industry, what is the key concern that they are articulating to you, where their business is concerned?

Kotler: I have not seen concerns so much as just energy and enthusiasm here. We had a tipping point or what I prefer to called a takeoff in India. When I would come to India earlier, I would always say, you are acting like a caged tiger, let’s open the cage and get out, you have a lot to offer - now it has happened. It started in the BPO sector and you have some great firms and they are known to business-people around the world.

In fact, they are just delighted with the choices they have between such great suppliers of business processing outsourcing. What’s next from the development of India point of view? Further what are the other industries that are going to take off? Who are the next winners? We have to do more in the agricultural and textile sector. I have notice that India doesn’t have brands that are global yet.

Q: What’s your understanding of Indian brand marketing vis-a-vis global practices?

Bhat: Actually, as early as 1992, we chose to go overseas with branded products, Titan Watches. The problem really was with the customer in Western Europe, not so much in the Middle East and the Far East. We have done extremely well in the Middle East and the Far East. I think you are well aware that, Swiss and Japanese watches are known for technology and India was not known for engineering and technology, especially precision engineering.

Despite our good designs, despite very good pricing, excellent advertising and good distribution, it took us a while to establish the brand. But we have stayed with that philosophy, that we must take our brand overseas and are now very successful in the rest of the markets. So, initially we needed some India-friendly kind of markets. The country of origin, I think that paradigm has changed now. We are finding it increasingly easy thanks to the IT companies, pharmaceutical companies, our own knowledge workers working overseas.

Q: The head of a company called Mahindra & Mahindra was telling us that when they advertised tractors abroad in the USA, people asked why should we want to buy tractors made in India because we have got the big farms and the big tractors. But he said, they are smart tractors, they come from the country where the people are smart!

Kotler: That is a very good branding idea because Indian people are well educated and very smart and everyone knows that.

Bala: You can also embed a smart-chip if you want to have a customised kind of a product - that and this particular seat can be adjusted to whoever is sitting on the tractor, whether he is a lefthander or a right-hander - all those things can be programmed in. So, it is not only a tractor, it is embedded manufacturing. I think you are right, we should market smartness, put the ‘smart’ word upfront - just like Swiss cheese or German engineering, let us say ‘Smart India’.

Bhat: In fact, Dr Kotler there is one idea which actually Kishore (Biyani) was talking about, that there are a lot of home grown brand categories in India, which is in a way is embedded in the minds of Indian consumers – like Lucknowi kurtas

Biyani: It is embedded from the point of origin. They are big brands in India and all women identify with that kind of brand.

Q: Is that an opportunity that you think people are missing out?

Kotler: Some people say it’s so expensive to brand because you are have to buy mass advertising, which is expensive. But many products make it without any of that because the word-of-mouth travels when it’s really something new and something good, and so you can create a little buzz and all that. Don’t worry in trying to build strong awareness of what you have got at too great a cost, because it can be done at lower cost as well.[/tscii:629fff9327]

[ajithfederer]

Lets come 2 a conclusion on how we use this thread......... :)

Do we discuss different streams in Management (or) Shall we discuss abt the trends in Management? :)

[ajithfederer]

i have taken Financial Management this semester......guys share ur inputs on FM please! :)

Please dont let this thread sleep........lets have some useful discussion going on....... :D

[ajithfederer]

:(

[sgokulprathap]

i have taken Financial Management this semester......guys share ur inputs on FM please! :) :clap: very nice subject.

[sgokulprathap]

cashflows, time value of money, capital budgeting, risk vs return, capital structure, working capital management, financial ratios and lot more can b discussed under financial management.

[m_23_bayarea]

Throw some light on "Basics of Accounting "..this subject is pulling me down

Book-Keeping and Accounting Basics - http://www.nolo.com/article.cfm/objectID/36CD7F07-6275-4FB2-976329FE30378D91/111/277/237/ART/

Business Record-Keeping - Accounting Basics - http://www.tenonline.org/art/bsr/9712.html

Accounting Basics - http://www.allbusiness.com/accounting/1258-1.html

EZ Guide to understanding Accounting - http://www.ezaccounting.com/

UniXL Accounting Basics - http://www.unixl.com/dir/business_and_economy/accounting/

Accounting Basics Handbook - http://www.accsoft.ch/download/accountingconcepts.pdf

Bookkeeping and Accounting Basics - http://www.inc.com/articles/2000/04/19193.html

Why Should I Learn Accounting? - http://www.accounting-and-bookkeeping-tips.com/why-learn-accounting.html

Accounting Basics - http://www.accountingcoach.com/online-accounting-course/60Xpg01.html

Accounting and Taxes - http://sbdcnet.org/SBIC/tax.php

[m_23_bayarea]

[tscii:243264e70c]
Throw some light on "Basics of Accounting "..this subject is pulling me down

In a nutshell, Accounting is HOW to manage your Finances and keep your books up to date ... It is broadly classified into two types, Managerial and Financial accounting ... While financial accounting talks about the major statements like Balance sheet, Income Statement, Cash-flow statement, etc, and how all the ingredients in these statements are calculated and maintained, Managerial accounting talks about the Cost of production, raw materials, etc and all the internal decisions, how they are being made ..

Managerial accounting is concerned with providing information to managers—that is, to those who are inside an organization and who direct and control its operations. Managerial accounting can be contrasted with financial accounting, which is concerned with providing information to stockholders, creditors, and others who are outside an organization. Managerial accounting provides the essential data with which organizations are actually run. Financial accounting provides the scorecard by which a company’s past performance is judged.

The links in my previous post will direct you to a world of knowledge in ACCOUNTING !! Good luck !! :thumbsup: [/tscii:243264e70c]

[m_23_bayarea]

i have taken Financial Management this semester......guys share ur inputs on FM please! :)

Please dont let this thread sleep........lets have some useful discussion going on....... :D

This was one of my MADATORY core classes in MBA ... Though I'm a Marketing and Bus Dev guy, I had a great time in this class, mainly cos of my professor !! Here are some of the things I learnt in this class !!

The structure, markets and regulatory factors within the financial system. It taught some basic skills in preparing financial plans/budgets, valuing capital costs, financial assets and evaluating the firm's capital structure, cost of capital, working capital, dividend policies, financing and investment decisions.

You being a Finance major should have a cake walk in this class !! :thumbsup:

[m_23_bayarea]

Question from a layman:
What is meant by "managerial aspirant"...

I was takin part in a QUIZ competition while in business School, and one of the questions posed at me was something similar to this ...

"How would you define MANAGEMENT in your own words?"

My answer was, "Being able to create and sustain something, be it a process or a product, with the help of people" !!!

:thumbsup:

[m_23_bayarea]

:roll:

Managerial Economics !

http://en.wikipedia.org/wiki/Managerial_economics

http://www.comp.nus.edu.sg/~ipng/mecon.htm

http://www.nd.edu/~mgrecon/

http://www.kellogg.northwestern.edu/meds/

http://www.mhhe.com/economics/baye/

http://www.princetonreview.com/college/research/majors/majorBasics.asp?majorID=162

http://facweb.furman.edu/~dstanford/mecon/mecon1.htm

http://www.wwnorton.com/college/titles/econ/mec5/

http://highered.mcgraw-hill.com/sites/0072487933/

http://www.icfaipress.org/ijme.asp

:D

[m_23_bayarea]

In Short, Economics in general is divided into two as we all know ... Microeconomics and Macroeconomics ... While Microeconomics handles the basic concepts of Supply, Demand, Equilibrium, Labor, etc, Macroeconomics handles a broader persective of Gross Domestic Product (GDP), Gross National Product (GNP), etc ... And there have been innumerable economists that have devised their own theories in various fields of economics ...

My prof in B-School had come up with his NeuroScience theory or Reciprocative theory in economics where every transaction has a balance of ego and empathy driven by the brain nerves !!

http://www.amazon.com/Reciprocal-Modular-Brain-Economics-Politics/dp/0306461838

This book draws on the research and insights of Paul MacLean in his book, The Triune Brain, as well as the work of Abraham Maslow, to show that reciprocity, not conflict, is the endpoint of human development. As such, Cory uses neuroscience as the bridge between the natural and the social sciences. The modular view of the computational brain is tied to insights of evolutionary biology. Strongly endorsed by Edward O. Wilson, Paul MacLean, and Kurt Steiner.

:thumbsup:

[m_23_bayarea]

Sorry for not being able to moderate or monitor this thread for soo long folks !! Stan and I created this thread while I was still in my final semester of MBA ... After graduation, there have been a lot of changes in my professional life, and got invoved with work ... I consider this day LUCKY for me to be able to answer all these questions .. Let's keep the flow going and help each other out !!!

Now I might need some feedback on this !!

When you are in a IT project as a Business Analyst, and after you have finished with all your Discovery sessions in the Software Development Life Cycle (SDLC) with the Subject Matter Experts (SMEs), how would you transfer all that feedback you obtained from those sessions into actual REQUIREMENTS ??

It'll be very helpful if somebody could shed some light on this !! Thanks !! :D :D :D

[m_23_bayarea]

Lets come 2 a conclusion on how we use this thread......... :)

Do we discuss different streams in Management (or) Shall we discuss abt the trends in Management? :)

Some of the STREAMS in Management that I know of !!

Accounting

Finance

Marketing

Human Resources

Business Law

E-Commerce

Leadership

Managerial Decision Analysis

Strategic Thinking

International or Global Business

Managerial Communications

:D :D

[Sanguine Sridhar]

Bay,
One question for you! My degree is Masters in Computer Application and I am working for an IT firm.I am currently doing MBA.What stream will you advice me to take in the final semester? IT Systems? any other computer oriented streams?

Balaji,

Any other computer oriented streams @ ICFAI?

Thank you guys!

[m_23_bayarea]

Bay,
One question for you! My degree is Masters in Computer Application and I am working for an IT firm.I am currently doing MBA.What stream will you advice me to take in the final semester? IT Systems? any other computer oriented streams?
Thank you guys!

If you have an IT/Computer background, and are pursuing an MBA, I would advice you shoot for a SYSTEMS ANALYST or a BUSINESS ANALYST !!! Something inside the SDLC !!! You will have a clear understanding of both the Business Process Models (BPM) as well as Interface and System Designs !!! And since you mentioned yo're already workin for a IT company, you would prolly know that this is not too different from a PRODUCT MANAGER position ... And there is always PROJECT MGMT down the road !!! Man, TONS OF MONEY dude !!!

:thumbsup:

[ajithfederer]

Bay u rock with ur contributions to this thread....... :clap:

me a lil busy in office now.......will check this later in the night......

dai balaji where are u da...... :huh:

[ajithfederer]

www.sba.gov

a site full of information for people who wish to start small businesses in usa........

offers advice on how 2 start a business, financing , managing it and recover it from disaasters if anything happens........

[ajithfederer]

Federal Reserve system and how it controls the monetary policy in the US........

simply amazing....... 8-)

http://en.wikipedia.org/wiki/Federal_Reserve_Banks

[Braandan]

Question from a layman:
What is meant by "managerial aspirant"...

I was takin part in a QUIZ competition while in business School, and one of the questions posed at me was something similar to this ...

"How would you define MANAGEMENT in your own words?"

My answer was, "Being able to create and sustain something, be it a process or a product, with the help of people" !!!

:thumbsup:

Are managers in all organizations "creating" anything? are they "sustaining" anything? as far as I see they are managers because that pays more than being a worker, that position allows them to boss over the lesser mortals..

As per your definitions a "mother" is a perfect manager, she creates and sustains.. and she is not paid a dime for it!!!

[m_23_bayarea]

Are managers in all organizations "creating" anything? are they "sustaining" anything? as far as I see they are managers because that pays more than being a worker, that position allows them to boss over the lesser mortals..

As per your definitions a "mother" is a perfect manager, she creates and sustains.. and she is not paid a dime for it!!!

A Mom is an Engineer, Manager, everything !! No doubt abt it !!

YES, The top management comes to a Manager and says, we need this product/project done within this timeframe ... Do whatver it takes to accomplish ... And then the manager goes around finding people, making plans, handling the production, and releases whatever the project/product is ... Of course, what yo're saying, "Bossing over the lesser mortals" is seen at all these phases, especially in everyday operations ... But that doesnt change my definition at all !!

:D :D :D

[m_23_bayarea]

www.sba.gov

a site full of information for people who wish to start small businesses in usa........

offers advice on how 2 start a business, financing , managing it and recover it from disaasters if anything happens........

YES! SBA is an AWESOME webpage, Thanks AF !!! :D :D

I took an ENTREPRENEURSHIP class in my MBA (one of my favorite classes), where SBA webpage was widely referenced ... In addition to that, here are some other links that might be of interest !!

Entrepreneurship Resource - http://www.zeromillion.com/

The MIT Entre Center - http://entrepreneurship.mit.edu/

The OCRI Entre Center (Canada mainly, but global information) - http://www.entrepreneurship.com/

For Youth (very Educational) - http://www.nfte.com/

http://en.wikipedia.org/wiki/Entrepreneurship

The Consortium for entrepreneurship Education - http://www.entre-ed.org/

Global Ent Monitor - http://www.gemconsortium.org/

http://www.publicforuminstitute.org/nde/

CELCEE - http://www.celcee.edu/

:thumbsup: :thumbsup:

[ajithfederer]

http://biz.yahoo.com/ap/061025/fed_interest_rates.html?.v=12

Fed leaves the interest rate unchanged........ 8-)

[ajithfederer]

so bay lets concentrate on the different areas in Financial Management one by one at a time from now on......... :)

Now lets start with the basic concepts in FM......... :)

[m_23_bayarea]

so bay lets concentrate on the different areas in Financial Management one by one at a time from now on......... :)

Now lets start with the basic concepts in FM......... :)

Sure buddy !! Thanks for driving this thread !! :D

In my opinion, Financial Mgmt is all about the structure, markets and regulatory factors within the financial system. It helps in preparing financial plans/budgets, valuing capital costs, financial assets and evaluating the firm's capital structure, cost of capital, working capital, dividend policies, financing and investment decisions .... There are a lot of major components of Financial Mgmt !!! Soon to follow !!

:thumbsup:

[ajithfederer]

let me start with my piece which would is very basic:

Finance : Its a study of how governments, businesses and individuals acquire spend and save money. Its a science of how money is spent wisely which would enable any entity (be it a person or a company) to prosper and survive in the longer run....... :D

will continue more in the evening...... :)

[m_23_bayarea]

[tscii:bf2b01c35f]Financial Magmt also provides a framework for analyzing the major types of investment and financial decisions made by corporations. It gives an insight to techniques that have to be implemented in order to maximize the value of the firm, and hedge its risk exposure. Some of the topics of interest in Financial Mgmt could be ....

• An Overview of Financial Theory

• Time Value of Money

• Risk and Return

• Bond and Stock Valuation

• The CAPM and APT Models

• Weighted Average Cost of Capital

• Capital Budgeting and APV

• Financial Statements and Ratio Analysis

• The Term Structure of Interest Rates

• Dividend Policy

• Capital Structure and its Determinants

:thumbsup: :thumbsup: [/tscii:bf2b01c35f]

[ajithfederer]

Financial Institutions :

Basically these are institutions which help transfer money from savers to investors.......Banks, credit unions and depository institutions fall under this category....

Financial Markets :

Institutions which help transfer money among investors....

Eg: stock markets, bond markets commodity markets and foreign exchange markets come under Fin markets......

Securities :

A legal right given to a creditor by a borrower.......

Investments:

In financial terms, Investments means buying and selling of securities in capital markets......

[m_23_bayarea]

Could somebody suggest a good TEXT BOOK for Business/Systems Analysis please ?? Thanks !!

:D

[ajithfederer]

http://biz.yahoo.com/ap/061026/earns_exxon_mobil.html?.v=14

Exxon Posts $10.49B Profit; Shares Up 8-)

[Braandan]

[tscii:610fddfd1a]Keep your books away!!!

Now for some real life management questions.

You are posted as “implementation manager” by the software company from Bangalore in a power plant in North India. The ERP software belongs to another giant company and your employer is just sub-contracting. The power plant actually belongs to a state government whose turn-key commissioning is being done by a “heavy electrical” public sector giant. A part of it is subcontracted to another “petro chemical” giant private company, who has part of the contract to implement an ERP software in the plant.
You are an ERP expert and your assistant too..

The plant (800 crores) is ready but not yet handed over to the state government’s electricity department. Hence no payment has been recd by the heavy electrical giant. No payment yet to the petro-chemical giant. The plant is about 90 km remote from the nearest city. You are told that accommodation will be provided to you and your assistant who accompanies you. You go there and see a room with two camp-cots at the top most floor of a worker’s apartment. Not even an air-cooler (36 deg Celsius, with occasional sand-storms is the climate), sharing bath and toilet. The nearest dabba is about 2 km from your place (at the gates of the power plant) and the food is horrible. No public transport inside the plant and it is a place of distances, your desk is in a building 1 km away from the site office of your direct client. For any important discussion/meeting you have to come to the town by public transport (4 hours each way) as the only jeep used by your client is always busy, it is not for you.

The individual PCs and the main server is ready, but no cabling or LAN is yet implemented. The sub-contractor for that is not ready to come that distance from the nearest town to do that. You do not have network coverage from your mobile (nearest tower is 10 km away), the std booth is at the gates 2 km away. The nearest ATM is 90 km away. Since coming here your employer has not paid your salary. Repeated phone calls to them get the answer that they are having a ‘financial crunch’ and as soon as the advance payment from the software ERP giant is recd you will get your salary. (No way, as the software giant has not yet got any payment)

Technically you find that the manual forms used by the plant do not match your input screens. OK, you know how to dovetail the screens, that is not a problem. None of the engineers (state govt.) comes for the training sessions you call for. No one is interested in your software. If you sit late in the evening you will be locked up by the peon, as he has to go home at 6 pm. Your immediate client is pressurizing you to implement the software and get the completion certificate from the ‘Chief Engineer’. Neither the CE, DyCE, Exec.engineers peep in at the server-center. (only relief: the room in which you have your main server is kept is airconditioned!).

I have not explained the whole scene yet. But with the above detail and all your management knowledge, start discussing how you are going to handle the situation.
[/tscii:610fddfd1a]

[Braandan]

Forgot to add the following. Please add one more point.
"The nearest internet connection is 90 km away from your desk". (don't think that you have that luxury!!!)

[m_23_bayarea]

Brandaan, Thanks a lot for coming up with such a BIG problem ... I really appreciate the time yo've spent in fomalizing such an assignment .... However, please understand that most of us here are still in school, or have just graduated or started a new job (I'm writing this after so many days of you posting cos I was waiting all this time, if some PROFESSIONAL in the same field would take his time to come up with a solution) !!! :oops:

So for us to come up with a formal solution to a problem of this degree needs more expertise and experience ... Moreover, this thread is designed to help each other out, and not to TEST amongst ourselves ... But if yo're looking for help from us in terms of a solution, I sincerely apologize for that not being the case here .... :cry:

But a good thing for all of us here would be, YOU coming up with the solution itself, and explaining to us your THOUGHT PROCESS ... Looks like you're very much capable of doin that ... That will add more VALUE to this thread, as well as all of us budding Analysts and Business folks .... :D

Thanks a lot !! :thumbsup:

[great]

Bay,
One question for you! My degree is Masters in Computer Application and I am working for an IT firm.I am currently doing MBA.What stream will you advice me to take in the final semester? IT Systems? any other computer oriented streams?

Balaji,

Any other computer oriented streams @ ICFAI?

Thank you guys!

Sri just saw this post :oops:

yeah for regulars they included Business Intelligence and other normal ppr like e-business , project management are also available.

Why do want to stick on to IT ? I feel you can go for Marketing as major specilisation and 2 ppr you can go for IT.

[Braandan]

Brandaan, Thanks a lot for coming up with such a BIG problem ... I really appreciate the time yo've spent in fomalizing such an assignment .... However, please understand that most of us here are still in school, or have just graduated or started a new job (I'm writing this after so many days of you posting cos I was waiting all this time, if some PROFESSIONAL in the same field would take his time to come up with a solution) !!! :oops:

So for us to come up with a formal solution to a problem of this degree needs more expertise and experience ... Moreover, this thread is designed to help each other out, and not to TEST amongst ourselves ... But if yo're looking for help from us in terms of a solution, I sincerely apologize for that not being the case here .... :cry:

But a good thing for all of us here would be, YOU coming up with the solution itself, and explaining to us your THOUGHT PROCESS ... Looks like you're very much capable of doin that ... That will add more VALUE to this thread, as well as all of us budding Analysts and Business folks .... :D

Thanks a lot !! :thumbsup:

So you accept that this discussion thread is not for real "administration and management" but just to discuss your "certification" education! Your answer that management is "creation and sustenance" is just an "interview answer". Must change the heading of the thread as "management certification". All your aim is to take a course which gives you a "certificate" which you can use for asking a promotion or a raise in your present job or to apply for a higher paying job. There is nothing in this to do with real administration and management, which is a far cry from reality in comparison to the books which you mug up in your course!!!

[m_23_bayarea]

Braandan, it's just that we're all sooo busy at work, so we dont waana solve such problems even outside work !!! :wink: :P :wink:

[ajithfederer]

A terrific website for Corporate Finance
:)
http://pages.stern.nyu.edu/~adamodar/

[thalaifan]

Bay,
One question for you! My degree is Masters in Computer Application and I am working for an IT firm.I am currently doing MBA.What stream will you advice me to take in the final semester? IT Systems? any other computer oriented streams?

Balaji,

Any other computer oriented streams @ ICFAI?

Thank you guys!

Sri just saw this post :oops:

yeah for regulars they included Business Intelligence and other normal ppr like e-business , project management are also available.

Why do want to stick on to IT ? I feel you can go for Marketing as major specilisation and 2 ppr you can go for IT.


This is a very good thread :D

I work in ERP, Not so fond of finance but i work in the areas of Sales and Inventory management, Sridhar if you are doing your MBA, why dont u swith to something that would Bring together both your technical and u'r Business knowledge

I would suggest you could move into some ERP Tools like SAP that would be your best Choice IMO

[bulb_mani]

thalaifan plz check ur PM .. ive PMed u regarding something

[Sinthiya]

...something that would Bring together both your technical and u'r Business knowledge...

I would suggest you could move into some ERP Tools like SAP that would be your best Choice IMO
....glad you posted in the thread i recommended and found it to be useful...:notworthy:

i'm specializing in ERP- SAP in my studies....
SAP is difficult to learn but an overall understanding helps....

[thalaifan]

...something that would Bring together both your technical and u'r Business knowledge...

I would suggest you could move into some ERP Tools like SAP that would be your best Choice IMO
....glad you posted in the thread i recommended and found it to be useful...:notworthy:

i'm specializing in ERP- SAP in my studies....
SAP is difficult to learn but an overall understanding helps....

what module are u specialising on...lemme know if i can be of any help

[Sinthiya]

i'm just learning the basics of all modules...no interest in any particular module so far...

thanks...i will remember....

[bulb_mani]

Siemens said for a fresher like me ABAP would be best... and the pay too is very good :?

But i wanna know if they would teach me the basics of other modules coz ABAP seems to be the Core for all the Modules' Programming Operations :?

Im gonna join siemens for SAP certification in a couple days... any comments :roll:

[Sinthiya]

http://forumhub.mayyam.com/hub/viewtopic.php?t=3620&postdays=0&postorder=asc&start=0

you can also post here for more feedback... :)

[m_23_bayarea]

This is a very good thread :D


Thank You! Welcome to the Hub !!! Looking forward to your valuable contributions !!! :D :D



I work in ERP, Not so fond of finance but i work in the areas of Sales and Inventory management, Sridhar if you are doing your MBA, why dont u swith to something that would Bring together both your technical and u'r Business knowledge

I would suggest you could move into some ERP Tools like SAP that would be your best Choice IMO

Business Analysis and Product Management will bridge both !!! :thumbsup:

[great]

I would suggest you could move into some ERP Tools like SAP that would be your best Choice IMO

I do agree SAP is very good and specialisation on that paper would be advantage. The main draw back is the duration offered for these ppr would be very less as in india each specilisation ppr should be completed around 30-40 hours depending on the institute.

SAP can be done outside rather than specilisation.

[chevy]

oKAy .. i havnt read the prev posts .. but here is my question


How early shud one apply ( with scholarship request) for an MBA course in the us or uk ??


i wish some 1 wud explain the whole system for MBA applications for me ..

pls .. don';t post some links .. coz i ve googled quite a lot.. if u hav sumthin to say ???? or advice.. then ..do tell me ..

[chevy]

any1 ??????