An evening to remember; a day not to forget

It was around five in the evening. I was getting ready to leave for the railway station to board the train to Hyderabad. The train was at 18:10 hrs - Charminar Express. I was travelling light as I had moved most of my stuff to Chennai. Just as I was about to step out, I decided to look at my ticket...wanted to know my coach number. Coach S9, seat number 30. And then, for some weird reason, I took my ticket out once again to check the train number. I had a smile on my face for I knew that I wouldn't, couldn't, make the dumb mistake of mixing up my trains. That smile faded rather quickly. The ticket said Hyderabad Express - time of departure 16:45! I had never missed even a bus ever in my life and here I was, in Chennai, feeling stupid on the eve of my last day at my current workplace in Hyderabad. Absolute horror.

I rushed to the station in the hope that I will get at least an unreserved ticket on Charminar Express. I had no choice but to get to Hyderabad. Had to complete my last day formalities. My manager had joked on Thursday last week, just as I was leaving for Chennai, that it would be funny if I didn't turn up on Monday. What is she? Some kind of a fortune teller?!? :-)

There was a long queue at the station and only half an hour left for the train. There was no way in the world that I could have got the ticket. So I started thinking about other options. Option One - Bus. I have never been too fond of bus travel. I usually wake up feeling rather grumpy and with a bad back. Option Two - Air travel. Flights are expensive. Normally, I would have been pretty pissed with myself but not this time. I didn't mind spending the extra dough. I was actually happy doing it. It would get me to Hyderabad much quicker. So Option Two it was. I got into the nearest Internet cafe, booked my flight, and then headed out to the airport. On reaching there, I called up mom to tell her that I was going to reach Hyderabad after all. She seemed more worried that I will not be able to eat the parathas that she had packed for me! :-). So I first checked in, then ate her parathas (delicious ones by the way) and finally cleared security.

The evening had already been quite eventful. However, there was more to come. As I was waiting for my flight's announcement I saw a familiar face walking in my direction. His charismatic and beaming smile is quite unique. Lakshmipathy Balaji was on his way to South Africa to play in the Indian Premier League (IPL). He is a nice person and a cool customer. I had a pleasant conversation with him and wished him well in the most awaited tournament. My rendezvous with celebrities didn't end there. Actors Shriya and Vishal were my co-passengers! They were on their way to Hyderabad to shoot for their upcoming film Thoranai.

So, eventually, I reached Hyderabad - quite comfortably and happy :-). As mentioned earlier, today will be my last day at my current workplace and after three and a half years with the firm the separation will be a bit emotional. I have good memories with this company and have learned a lot in these last few years.

My next post will be from Chennai. So until then...Tc.

PS: Yaaaaayyyyyyyy...that was my 50th post!

Gokarn - postcard

Daddy...

"Darling son your dad praying for you. Wishing you all the best. Have a gr8 day. Love u vvvvv much. Miss u vvvvv much"
An SMS sent to me around midnight on January 25th, 2009. Dad, usually, sent such messages early in morning before I headed out to work or play. I found it quite peculiar to have received the sms that late in the night. I had told myself that I will call him as soon as I wake up next morning. It is something that I will forever regret. My beloved father didn't answer his phone. He couldn't. He had succumbed to a massive heart attack. I had lost the opportunity to speak with him one last time. The sms remained his last words for me.

Dad was working in Saudi Arabia at the time of his death. It took us eight days to bring his body back to India. The wait had been excruciating. The family, already in a state of shock, had to bear the agony. We were fortunate to have had the overwhelming support of our relatives and friends. They were there by our side when we needed them the most. My father's employers in Saudi Arabia did their best to ensure that he was brought back to us at the earliest. Friends, here in India, helped us complete all the formalities right from the airport procedures to the cremation rituals. Mere words cannot express our gratitude for the kindness shown by these wonderful people.

Life now has completely changed. There are enormous responsibilities to be shouldered. I have dropped my MBA plans, at least for now. Under current circumstances, it wouldn't be wise to take on the burden of a huge loan. I need to be with my family for I need them as much as they need me. I have quit my job in Hyderabad and will be moving to Chennai in less than two weeks. By God's grace I have found an opening that, to an extent, should make up for the lack of an MBA. I am joining a start-up. I will be playing a major role in helping the company grow. The learning curve will be tremendous and I expect to reap rich professional and personal rewards. It would be the ideal experience that prepares me for a future entrepreneurial role. As I embark on this new journey, I wish to state that life tests you in various ways and teaches you to be strong. I have just lived through the worst period of my life but at the end of it, thanks to tons of well wishes, I am going to do something exciting. I am going to be home.

There is so much more that I wanted to type in this post...so much more that I have to say. But I can't. Am not able to.

Dad, every time I write something about you my eyes well up with tears. You have done so much for us. You lived your life for us. Yet you left us before you could see us reach our peak. Why did you have to be so selfless? You could have easily chosen retirement over work but you always wanted to do that bit extra for your family. You showed us the way. You will always be our guiding light. You will forever live in our hearts. We love you...I love you.

LHK by the zillions

Do I need an MBA?

The following was a comment on the Stanford ding and other updates post. I couldn't resist responding to it and have decided to post my reply rather than leave a comment.

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"I am going to provide a different perspective as a sanity check.

Don't get an MBA. I just finished mine at one of the schools in your blog, and I can definitely tell you that it was not worth the investment of time, money, and the opportunity cost of doing something else with your life. I have a lot of Indian friends that have not found a job (or received a crappy job offer) that graduated. And the benefit of networking and "connections" is helpful, but it is also a lot of hype since your connections are worried about their own jobs.

You can get close to 90% of the MBA experience by going to your library to read a few books on corporate finance, operations, and marketing strategy. And you can make just as valuable connections by joining professional associations."
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Edit: Anon, would it be possible for us to touch base? Please drop me a mail (ashwanthp@gmail.com).
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Thank you for your comment. "Do I need an MBA?" is something that I have pondered over for many months and I can write my longest post yet as the answer. For now, I'll keep it brief. My reasons for an MBA-

1. New Challenges.

2. International exposure and outlook.

3. The networking.

4. Strategy Consulting. Hell, getting into consulting after an MBA is tough. Imagine trying to switch careers without a management degree. However, I don't intend to stick with consulting for too long. I'd like to start my own firm and the consulting stint will help in the preparation.

5. Above all, the BRAND. When I speak, I'd like everyone to listen. An MBA from a TOP school will at least make people stand up and take notice.

It is for these reasons that I have been extremely selective with my schools. The ones that I have chosen are highly reputed and have stood the test of time.

It may be true that the theoretical experience can be gained by visiting a library but I am not sure if professionals like us will have the time to do it. It requires dedication and a sustained effort. I'd be better off learning about corporate finance and strategy for 10 hours a day, in a classroom, rather than 5 hours a week. More so, if my intentions are to make a career out of them.

Yes, you can make valuable connections by joining professional associations but the bonding wouldn't be the same. The levels of commitment would differ. A friend, whom you have spent two years of your life studying with, will be much closer to you than an acquaintance from your "Round Table of Money-makers". I hope you get the difference.

There are pros and cons of doing an MBA but it is a significant investment, nevertheless, of both time and money. It is imperative that you plan well before taking the plunge. I wish you well and hope your friends find the jobs that they desire.

Cheers

Stanford ding and other updates

The big news is that the Stanford admission decisions for Round 1 are out and I, unfortunately, do not fit in their scheme of things. I am not disappointed though. A call from Stanford would have been a bonus in any case. I am, nevertheless, glad that I applied there. Their application process sure did make me think deep and hard and connect with my inner self. I attended the Ross Waitlist Online Chat today. It was hosted by Linda Abraham of the Accepted.com fame and had members of the adcom and current students taking questions. A nice initiative. The chat's transcript will be available online in a week's time. I'll post the link as soon as it comes alive.

Onto other news now. My team and I played in a soccer tournament a little over a week ago. We finished Runners-up. We did bag some of the big individual prizes though. My teammate won the 'Golden Boot' for ending the tournament as the highest goal scorer. Yours truly bagged the 'Best Goalkeeper of the Tournament' award. Then, on Sunday we played Satyam Computers in our first match of a corporate cricket tournament. We won quite easily but I didn't contribute much. Had an off-day. We are playing the State Bank of Hyderabad this Saturday in our first match of another tournament. Hope I score a few runs there.

Moving onto dance - I'll be dancing, with my team, on-stage at HICC Novotel, Hyderabad, on Jan 30th. Will be performing the salsa and the merengue. I'll try and upload pictures of the dance, if possible. Work has been rather hectic. I have a deadline to meet on Jan 30th (yep. same day as the dance). So you can imagine the kind of schedule that I have before me. I am having to balance work, dance and sports but the good part is that I am enjoying it. It has taken my mind off the recent disappointments.

Oh...before I end...did I mention that I am applying to a couple of European schools? More on that in a later post at a later time.

Waitlisted at Ross

It is, at least, better than a ding! More painful though :(.

I have already mailed the adcom that I'd like to remain on the waitlist and be considered for admission this fall. I don't have a choice. I haven't applied to any other school because I was quite confident about my chances at Ross and Darden. Darden, as fellow applicants from India would know, has hardly issued interview invites to Indian applicants - a terrible letdown. News from Stanford, though unlikely, will be a bonus.

The Ross adcom, along with current students who got admits after being placed on the waitlist, will be participating in an online chat (Jan 22nd 1 PM EST) where they will be taking questions from the waitlisted candidates - a terrific initiative. A Google group, for the waitlisted candidates, will be formed after Jan 20th.

It will be good to discuss plans and strategies with fellow applicants. Talking about strategies, I found this blog on one of the forums. It belongs to a current Ross student who converted the waitlist into an admit. Nice read.

Events this past week (MBA and non-MBA)

I was in Bengaluru these last couple of days. The Darden event was on the 17th and it was a different experience. Unlike other MBA events that I have attended in the past, this one had no presentation. In fact, there was no adcom member at the event!

It was conducted by two current students, Vinod Raman and Anand Rao. The session was quite informative, especially for those who are in the initial stages of their research on Darden. For people like me, it was a great opportunity to meet current and prospective students, discuss the case method, know more about life at Darden, and assess where we stand at this stage of the application process. Darden hasn't sent out invites to its Indian applicants yet and so "when would they" was a popular question. The decision deadline in on January 30th. So there is plenty of time left for the invites to be sent out. An interesting fact - 739 Indian citizens applied to Darden last year and 61 were offered admission.

Another important piece of information is that Darden will ensure that the admitted students get all the financial help that they need. There have been instances in the past when Darden has played the role of a guarantor for loans that require co-signors. Fantastic!

Now onto another event. I attended a charity show called "Hrudaya Spandana" (Touching Hearts), conducted by the Sahaaya Foundation, on Dec 13th. It had music and dance performances by visually challenged kids - some of the most amazing performances that I have ever seen. Here are children who, though blind, have the will power to not only be creative but also perform for charity. The event was a fund raiser for the victims of the Mumbai terror attacks. Quoting one of the performers, "We don't want your sympathy. We only need an opportunity." - touching hearts, indeed.

We had played Deloitte, in the semi-finals of a cricket tournament, earlier that morning and had come out second best. The charity event was the perfect solace.

Ross Interview Done

Back home now after the interview. It was with an alumnus, at his office. It lasted for an hour.

The interview started with a resume walk-through and had loads of questions on team activities, setbacks and my subsequent take-aways. I, actually, got a chance to tell him about every major achievement and his responses/acknowledgments sounded positive. Then, there were the usual why MBA, why Ross, goals while at Ross questions. I think I handled them pretty well. He then asked me about the other schools that I have applied to and wondered why I had limited my choices to only three schools. I told him why I thought that I best fit my target schools. I think I managed to convince him that I am an individual who is very focussed at all times.

Overall, I felt it was a good interview but I could have done better. I have a terrible cold and was trying my best not to cough during the interview. That made me pause a couple of times. Thankfully they weren't long ones. There were also a few "you know"s that I could have avoided.
So begins the wait for the results. Decisions will be mailed on January 15th. Lets hope I hear from Darden and Stanford before that.

Back from Sabarimala

I'm back from my annual pilgrimage to Sabarimala, the holy abode of Lord Ayyappa. There was heavy rush but we managed to pray well. This temple that does not pose restrictions on men from visiting the temple (Ayyappa is a bachelor God and hence, women between the age of 10 and 50 aren't allowed). People from all religions throng the temple and during the peak season the rush is second only to Mecca.

The visit to the temple involves a 41 days fast that requires the devotee to:

• Wear black clothes
• Remain unshaved
• Walk bare feet
• Avoid non-vegetarian food - supposed to eat food that is only cooked at home
  
• Avoid alcohol, intoxication and women
• Wake up as early as 4am, have bath and offer prayers before doing anything else

Basically, one must live life like a saint for those 41 days. Since I live alone, here in Hyderabad, I couldn't follow certain rules (like clothing, food from outside). I also had to shave my beard before my ISB interview. But I did follow the rest of the stipulations religiously. The pilgrimage helps develop tremendous self-control.

I started going when I was four years old. This was my 17th year to the temple.

I returned on Saturday and spent the weekend reading about the terror attacks on Mumbai. I was shocked to say the least. For long has India and Mumbai been savaged by these stains on humanity. I salute the ones who sacrificed their lives in trying to rescue the hostages. May the souls of the victims rest in peace. I pray that God gives their families the courage and strength to bear the losses.

Its my sister's birthday today. I plan to gift her "The Tales of Beedle the Bard", by J. K. Rowling. I am sure she'll like it.

Today also happens to be World Aids Day. So, people, please spread the awareness.

I had sold my Dell Inspiron laptop two weeks ago and will be getting my new Dell Studio 15" this week. So thats one other thing to look forward to...

Now I better rush to work. Tc.

Ross Interview Invite!

The happiness, that I feel at this moment, has no bounds. I have been waiting for this invite for weeks now. Ross has always been one of my favourite schools and now I find myself knocking on its door. Its like a dream come true.

I have been asked to interview between Dec 1-12. I will be going on a pilgrimage today and will be back on Saturday. I will fix the date of interview on my return.

Thank you all so much for the support. I will not disappoint you this time :-)

Go blue...

Ross Videos

I had wanted to post these earlier but didn't get the time to do so. I like these videos because it gives prospective students, like me, another opportunity to connect with the school and feel what it is like to study at Ross. The first video talks about how students can benefit from the Ross MBA. The second is more specific to leadership development at Ross. It talks about the measures that are being taken to tap leadership potential.






If you had any doubts about pursuing an MBA in these pressing times or about applying to Ross then this address, by Al Cotrone - Director of the Office of Career Development, might help reaffirm the value addition that a Ross MBA provides.

ISB - Dinged

Well...the title says it all.

BW Business School Rankings

The latest BusinessWeek b-school rankings are out. As per the new rankings, the top U.S. programs are:

1. Chicago
2. HBS
3. Kellogg
4. Wharton
5. Ross
6. Stanford
7. Columbia
8. Duke
9. MIT
10. Haas

Well...I am surprised that Stanford has been ranked no higher than 6th. But I am delighted that both Ross and Stanford figure in top 7 and Darden isn't far behind (#16). My Ross and Stanford applications are currently under review and the Darden applications should be reviewed soon too. Please please send me the interview invites. I am so looking forward to them :-)


The top Non-U.S. programs are:

1. Queens
2. IE Business School
3. INSEAD
4. Ivey
5. LBS
6. ESADE
7. IMD
8. Rotman
9. IESE
10. Oxford

Here again, I was caught by surprise when I didn't see HEC Paris in the top 10. That is one school that has been consistently ranked high among b-schools in Europe. HEC, Judge and Cranfield figure in the second tier.

For more information, please click here. You may also wanna read about the crisis at the schools.

ISB Interview

I had my interview at 9:10AM today. It lasted for 40 minutes. There were three people in the panel - Mr. Menon (Director of Admissions), a Lady Professor, and Mr. Vijay (alumnus).

The interview was conversational. It started with me talking about my background, the decisions that I took regarding my choice of college and course, the reasons for my long term goal and finally how ISB fits into the picture. Spent around 5-7 minutes here. Mr. Menon interrupted me and so I had to cut short my story and had to quickly link my past to my present and my goals.

Then followed questions on my extra-curricular activities, interests, leadership experience, financial crisis and a case.

Vijay: You have captained cricket teams in the past. How would you go about arranging a cricket match between your company's cricket team and the ISB cricket team?

Lady: Please mention an experience that made you a better person. It can be one that is professional or personal.
Me: I asked if I could give two examples - one professional and the other personal. The personal experience happened to be my experience as a young captain of a I Division League Cricket Team.

Menon: Staying with cricket, estimate the amount of popcorn that a vendor might sell at an ODI cricket match between India and England, here in Hyderabad.
Me: I asked him if the match is to be played on a weekend. He said that I can make my own assumptions. Therefore, I assumed that the match will be played on a weekend and that the stadium, capable of seating 45,000 people, would be packed to capacity. I also mentioned that popcorn is something that people from all age-groups enjoy and that it adds to the entire jovial atmosphere. Then I went about estimating the number of people who would bring their own eatables, who would prefer something other than popcorn, who wouldn't want to eat anything at all, who would have popcorn multiple times during the day - came up with a rough estimate for the number of cones likely to be sold and multiplied it by 200grams (popcorn served in a cone) and announced the result. People in the popcorn business would love my estimate for its sheer magnitude! (If there is a better way to tackle this problem then I sure would love to hear it.)


Vijay: You have mentioned that you love travelling and have visited Africa and the Middle-east. Why do you like travelling so much?
Me: I gave my reasons and also linked them to my interests in dance, music and culture.

Menon: Can you explain the financial crisis and possible remedies?
Me: I had just finished explaining the crisis when Mr. Menon stopped me and said that he is fine with the explanation and told me that I needn't talk about the possible remedies.

Menon: I think we should be done. (Confirms with the other members) Do you have any questions for us?
Me: I wanted to know whether it will be possible to lure some of my target consultancy firms to campus for placements. I also wanted to know more about the Wharton Global Consulting Practicum and whether it is possible to pursue the WGCP in addition to the ELP(the answer is yes). I also asked how a PGPM student typically contributes to the Wadhwani Centre for Entrepreneurship Development and how he makes use of the resources it has on offer. My questions were answered well.

Before the interview I was asked to write a short essay on the word 'Apply'. I chose to highlight my reasons for applying to a business school, and specifically ISB, in the essay.

Well, I think the interview turned out to be pretty decent - as is the case with a majority of the applicants. I have my fingers crossed...

Stanford and HBS guarantee International Student Loans without a US Co-signer

A friend of mine, Nitin Rao, forwarded this information to me and it got me all excited. I am sure others reading it would be as happy as well. So what exactly am I talking about? Here you go...

Stanford MBA Admission Blog (Link to the actual post):
International students at the Stanford Graduate School of Business will not be impacted by Citibank’s decision. The GSB Financial Aid Office has a close working relationship with Stanford Federal Credit Union and for the past two years we have made arrangements exclusively through SFCU to provide international students at Stanford the ability to take out private loans without a US co-signer.

HBS MBA Admission Blog (Link to the actual post):
There's been great uncertainty out there about international student loans so we are extremely pleased to be able to make this announcement:International students at HBS will continue to have access to need-based loans without needing to find a US co-signer.While at this time we do not have further details about specific loan programs with private lenders, we are able to make this important - and reassuring - statement about continued accessibility.All students - both international and US citizens - will continue to be eligible for Harvard Business School fellowships - the money you don't pay back. This year HBS will award $22 million in need-based fellowships; the average MBA fellowship is $25k per year.

ISB Essays

First, I'd like to thank all my readers for following my blog. I am happy that it is helping you in some way or the other.

I received quite a few mails requesting advice on writing the ISB essays. Hence, I have decided to post an analysis of the essays. So here we go...

Essay 1: Please give three reasons why ISB should admit you into the class of 2010. These reasons should ideally differentiate you from your competition. (300 words)

Needless to say, this essay is going to be the most important essay in your application. You have been, explicitly, asked to state the factors that distinguish you - qualities that make you special.

Think of instances in your life when you have been challenged and had to take decisions. Talk about the emotions that urged you to take those decisions. Choose your words carefully because the application portal won't allow you to enter more than 300 words for the essay. So, keep your sentences short, well-formed, and precise. Impact is the key here. Use examples. The adcom loves to hear more about the actual 'you' and your accomplishments. You may have one example where you have shown the three different traits or you may use three different examples.

I used three different examples - one professional and two personal. I concluded the essay by stating my short term and long term goals and how these differentiating factors would help me contribute to the ISB class and achieve my goals.

A couple of things that one must keep in mind:

1. Never project reasons like honesty or integrity as differentiating factors. These are qualities that you are expected to possess.
2. Avoid situations where you succeeded in doing something but doing that 'something' wasn't a decision that you made. For example, I studied in eight different schools and had learned six different languages before my eighth grade. I could have used this as an example for my willingness to learn and adapt but the decision to learn these languages was not mine to take. I was young and it was forced upon me. It will leave a stronger impression on the adcom if you describe circumstances where you were in control of the situation and the outcome was directly impacted by your thinking.

Essay 2: You are contesting the election to be the President of the ISB Student Body. Write a speech you will deliver to the student body on why they should elect you as the President? (300 words max)

Now, the situation is such that you have already been admitted and are contesting elections to be the President of a diverse and active Student body. Many would find it difficult to choose between describing their leadership skills and elaborating on how they can contribute to the school. I felt it best to present a good blend of both.

This essay gives you ample scope not only to highlight those instances where you have shown exemplary leadership skills and portrayed your ability to work in teams but also to project how much you know about the school and how you intend to utilize your time at school.

While choosing leadership and team work examples, I picked my stints as Captain of Sports teams and Coordinator of various clubs. This allowed me to highlight instances where I had displayed good inter-personal skills.

As far as writing about your plans for the school is concerned, you need to research as much as you can about the school and also about the responsibilities of the GSB President. Good place to start would be the ISB website. You could also talk to current students and alumni. Presidential candidates do soapbox presentations before the start of the election. Try getting hold of these presentations. Talk about those activities that interest you and will help you make positive contributions to the community.

The school wants to know as much about you as possible. Through this essay, you can also emphasize on the fit quotient.

Essay 3: CASE : You have been appointed to head the team to build a dam across the River Zumba. Success in this project is critical for your company and would earn you a promotion. Failure would mean that your company would be bankrupt and will take along with it, its investors and its employees. Building a dam across the river would result in deforestation of a portion of the rainforests and would mean relocation of the tribals and destabilization of wild life at Zumba. There is resistance from environmental groups against your project. You are meeting the head of the resistance movement in one hour wherein you would have to explain your decision. Describe what you would do and why? (You will be evaluated on the creativity and practicality of your solution).

You have already differentiated yourself. You have described your leadership skills and your interests in the school. Now, comes the opportunity to clinch your admit by portraying your problem solving ability.

While it is quite easy to get intimated by this question, it, nevertheless, allows you to be at your creative best. No answer is correct or wrong but every hurdle posed in the question allows you to project traits like practicality, resourcefulness, negotiation skills et al.

My approach to this essay was simple. There are three major hurdles and providing feasible solutions to these would win you the opposition's confidence. I tried to think of the simplest solutions to these problems and then built my final solution around these simple solutions. One thing that always remained in my mind was the ultimate goal of successfully completing the dam's construction.


The optional essay

It is not a must that you write this essay but you can use this opportunity to highlight certain items in your profile that couldn't be projected in other parts of the application.

I used this essay to talk about the internship experiences that gave me international exposure and brought me international acclaim. I had hoped that this information would strengthen my application and I think it did!

ISB Interview Invite

Yes...the wait for an interview call has finally ended!

I received my ISB interview invite today (30/10). It has been scheduled for the 9th of November. Quite appropriate that the first school that I had applied to was the first to send me an invite (though the ISB deadline was at least 25 days earlier than any of my other target schools :D). Nevertheless, I hope to get 3 more interview invites :-). There were over 2000 applications to ISB in this round. I am glad that the first hurdle has been crossed and I look forward to wearing my business suit :-).

I had, earlier, planned on blogging an analysis of the school's essays. But now, I have decided against it. The reason - there are some awesome tips that are already available on the web. Many applicants and admission gurus have shared their views and outlined their thoughts.

However, I will be more than happy to answer questions that applicants may have regarding these essays. My response will center around the strategy that I had followed for the particular essay and I hope to help applicants get a better idea of how to present themselves on paper through these essays.

Cheers

Hedge fund - a solution for loans without co-signer??

A well-wisher forwarded this piece of information to me. It is from the BusinessWeek forum. I am not sure how true it is. Here is the link.

For those who don't have the patience to click on the above link, here u go...

All those international students who are looking for loans without co-signer, here is a ray of hope for you. Currently all the b-schools who were dependent on CitiAssist for such loans are talking to each other to get a solution to this problem. They all are now planning to set up a hedge fund that can guarantee the loans for you guys. The schools include Chicago, Ross, Harvard, MIT and Wharton. Many more may join it but nothing is for sure. The source of this information is an adcom head from one of the schols mentioned above.

Its not just the Wall Street...its ALL streets!!

With the stock market (read the benchmark BSE 30-Share Sensex) plummeting to a three-year low and with the recession lurking not so much in the background anymore, the global downturn may be deeper and the recovery longer than expected. No one knows how long and how serious the financial crisis will be. But one thing is for sure - unless acted upon decisively, it is going to have a devastating effect on the lives, working conditions, and hopes of millions around the world.

The International Labour Organization has projected that the world unemployment would increase by 20 million, with the construction, automotive, tourism, finance, services, and real estate being hit hardest. People living on less than a dollar a day could rise by 40 million and those living on two dollars a day could rise by more than 100 million. Scary!

Stemming this rot will require devising economic plans that focus, primarily, on people and enterprise. Productivity must be linked to salaries and growth to employment. As Juan Somavia, Director-General of the ILO, says "People must have trust that the economy is working for them".

Measures have been and are being taken. Credit flowing is being increased. It, however, should also include credit for small and medium enterprises, unemployment insurance, pension protection et al - in short, its imperative to support the vulnerable. Regulation that rewards hard work and enterprise is also utmost important. Entrepreneurs must be encouraged so that they can invest and innovate, thus producing jobs and products. Sustainable globalization is also a key but that will require relevant international organizations to come together so that they can figure out means to keep economies and societies open.

Its a crisis. Its not for the weak-hearted.

Its time to think bold.

Darden application - tips from the Director of MBA Admissions

I had planned on writing about the strategy that I had followed for my Darden application (on receiving an interview invite from Darden) but with Sara Neher advising her prospective students through her video blog, I don't think that my strategy will be as valuable as her words of wisdom. Below are her video blogs that concern application essays, recommendations, and extra-curricular activities. I hope you find them useful.





I would have loved to have seen these blog postings before I submitted my application but I am glad that I have done most things right in my application. A good reason for me to hope for the best :-)