I admire a person that can work on cars. These machines are such complicated beasts. Not unlike classic literature! My friend loves it when I try to compare his work on cars my work on fiction. But just like the parts of a story, car parts only fit together a certain way. Get them crooked or backwards and they just won't work. A good parts in necessary for functioning of the car.
Even though sometimes it's hard, I think I know how to be pretty creative. I'm not good at crafts, but I can squeeze out a few inspirational words every now and then. I really admire people that can build and rebuild cars.
A relative of mine recently decided that he wanted to find a frame at a junkyard and start building a car. I thought it would be extremely expensive and time consuming, but he showed me Parts Gorilla (where he had bought car parts before) and I saw that maybe he really could pull this off on time and on budget.
European Foundation for Management Development
Indian Institutes of Management (IIMs) are in talks to get foreign accreditation to adhere to global benchmark which is likely to help them in seeking tie-up with foreign counterparts.
IIM Ahmedabad was the first to get such recognition when it got approval from the European agency EQUIS in 2008. IIM Bangalore got a similar accreditation from EQUIS last week.
he accreditating organisation expects a B-school to adopt certain changes in its functioning to conform to its global standards as they go about the process. A B-school’s objectives, goals and research works come under the lens. “We are tweaking the evaluation methods by detailing feedback given to students and also increasing its frequency.
IIM Kozhikode hopes to get accredited by AMBA (Association of MBAs), a UK-based organisation, in next four months.
IIMC has been in talks with AACSB International, a North American body, for a year now. An accreditation with AACSB will help IIMC to offer its students double degrees, one each from IIM Calcutta and the other from a US B-school, simultaneously.
However, getting accreditation is not smooth and easy. Indian School of Business in Hyderabad had applied to AACSB in end of 2006 and is still going through the process.
Sailing in the same boat is Namit Kumar (B-school freshers), whose MBA institute in Cuttack, Orissa, mostly lay barren as far as placements were concerned.
Namit was lucky to have got a sales job in a retail firm as a result of his own job hunt, for a monthly income of Rs 5,500, minuscule compared to what students from reputed institutes get.
“The entire course fee for two years was nearly Rs 4 lakh, but after spending so much, all I get is peanuts,” complains Kumar.
Namit's story is a grim reality despite talk of jobs and fancy salaries brimming all over again.
Of the 4,000 engineering institutes and approximately 1,600 business schools affiliated with the All India Council for Technical Education (AICTE), hundreds and thousands of the not-so famous institutes and their students have to grapple with low salaries or a no job scenario.
Does a foreign MBA degree from a renowned institute enhances your prospects of fetching a good job and gives you an edge over the rest?
Due to globalisation, liberalisation and privatisation, it has become feasible to pursue an MBA course from foreign universities, especially in the UK, Australia, USA and Canada. Distance learning MBAs and online MBAs from foreign universities still have the same attraction. A foreign degree guarantees more exposure since students need to interact with fellow classmates and faculty who are culturallydiverse to learn and evolve. Does a foreign MBA still have the same attraction as in the past decade? “A foreign MBA degree is still attractive for a large pool of people in India, though only a few globally renowned institutes are great to get in, which include Asian Institute of Management - Philippines, London Business School - United Kingdom, Kellogg School of Management - USA, Harvard Business School - USA, Wharton University of Pennsylvania - USA, etc. One of the good points of a foreign MBA degree is its admission criteria which include 3-4 years of corporate experience and case-study presentations, which are based on realtime experience for students to learn the art of management,” notes Sunil Goel, director, GlobalHunt, an executive search firm.
Says Jayaram K Iyer, professor – marketing, Loyola Institute of Business Administration, “Many gullible students are falling prey to glitzy advertisements and fivestar-hotel fairs from foreign universities that seem to promise more and deliver a lot less; it is as usual the country of origin effect: craze for anything foreign. Most of these foreign universities are here because they can’t find students in their own countries; it is business for them and no education can swerve from altruistic goals. Good foreign MBA degrees are restricted to a few top 30-40 B-schools in the world. However, one good aspect of all these foreign MBA schools is that students get a culturally-diverse exposure that moulds them to be more global in perspective. Of course, they also become more patriotic realising the worth of India.”
Does a foreign MBA give a better pay, position, etc? “A foreign MBA degree from a renowned institute certainly gives better pay and position as it provides exposure, builds up strategic thinking, leadership ability and foremost, it teaches ways to be a cultural fit in an organisation. Holding a foreign MBA degree from a renowned institute develops high aspirations in a candidate as far as compensation is concerned; this might not be feasible in today’s economic scenario,” adds Goel. So the question is - is a foreign MBA essential to fetch a good job? “Finally, one needs to decide what he/she plans to do after an MBA. This is probably the most defining factor to take a decision. If one is planning to take up a job abroad, one can opt for a foreign MBA. If one plans to return to India on completion, one should think through. Compared to foreign B-schools, Indian institutions offer cost advantage, making them more attractive if one is planning to build one’s career in India,” feels Ajay Oberoi, director general & trustee, AICAR Business School.
Vocab Power Updated Daily
- COBBLED - Repair or mend
- ABHORRENCE - Hate coupled with disgust
- INCUMBENCY - The term during which some position is held
- MITIGATE -Lessen or to try to lessen the seriousness or extent of
- dubious - Open to doubt or suspicion
- FOSTERING - Encouragement; aiding the development of something
- ELICIT- Call forth (emotions, feelings, and responses)
- PLAUSIBLE - Apparently reasonable and valid, and truthful
- FORGE - Move ahead steadily
- BOLSTER (V)-Support and strengthen
- ECCENTRIC- A person with an unusual or odd personality
- PATRONAGE - The act of providing approval and support
- IMPERVIOUS - Not admitting of passage or capable of being affected