With only a day to go before the NMAT 2007 -- the entrance test of the Narsee Monjee Institute of Management Studies -- you're probably brushing up on your concepts and testing your speed and accuracy by taking various sample tests.
Today, in the concluding part of our three-part series on the NMAT, rediff.com in collaboration with Top Careers & You publishes a set of original questions in the Quantitative ability section, taken from previous years' papers.
Test your quantitative skills
Part I: Verbal ability
Part II: Data Interpretation and reasoning
Top Careers & You has been preparing national and international candidates for high-end tests viz. MBA, MCA, GRE, GMAT and SAT since 1998.
Sunday, December 30, 2007
Saturday, December 15, 2007
CAT:10 steps to crack Data Interpretation
Data interpretation (DI) is an integral part of the GRE Quantitative Reasoning section. It is characterised by questions based on line graphs, bar charts, tables, case-lets and numbers. DI questions evaluate the test takers' ability to interpret the given data one way or the other by forcing him to use mathematical calculations to reach the desired result. The questions are calculation-intensive and hence pose a lot of problems for individuals who cannot calculate and approximate the given data fast.
Experts from TCY recommend the following techniques to counter the DI challenge:
1. Read Directions: The first area to work upon in DI is "directions". Students must spend a little time in the beginning of the test to read the directions and understand the information given in the table/ chart or graph.
2. The catch: There are certain traps in the DI questions which one must understand in order to counter them. These are i. Units: Never ignore the units given for the variables (in million dollars, in thousands etc.). Sometimes the answer choices are arranged in such a way that there is always a strong possibility to pick up the wrong one if one does not consider units.
ii. Variable: Don't confuse "change in the value of variable (production /sales /profit etc)" with "percentage change in the variable". You must understand that a change in the value is just the difference between the new and old value; on the other hand percentage change is given by %age change = (Ratio of change in value of the variable with the old value) X 100.
3. Calculations: Instead of wasting time in doing lengthy calculations, you must try to solve the questions using approximations.
4. Short cuts: One must use shortcuts to save time while calculating. For instance, here are two most widely used short cuts in DI:i. Doubling the value of variable is equivalent to an increase of 100 per cent, tripling is equivalent to an increase of 200 per cent, quadrupling to 300 per cent and so on.
ii. A% of B = B% of A i.e. 97.6% of 25 is simply one-fourth of 97.6
Attempt the following 10 questions and see where you stand as regards the Data Interpretation section of GRE Quant. You may call them your 10 step to perfection in Data Interpretation.
Experts from TCY recommend the following techniques to counter the DI challenge:
1. Read Directions: The first area to work upon in DI is "directions". Students must spend a little time in the beginning of the test to read the directions and understand the information given in the table/ chart or graph.
2. The catch: There are certain traps in the DI questions which one must understand in order to counter them. These are i. Units: Never ignore the units given for the variables (in million dollars, in thousands etc.). Sometimes the answer choices are arranged in such a way that there is always a strong possibility to pick up the wrong one if one does not consider units.
ii. Variable: Don't confuse "change in the value of variable (production /sales /profit etc)" with "percentage change in the variable". You must understand that a change in the value is just the difference between the new and old value; on the other hand percentage change is given by %age change = (Ratio of change in value of the variable with the old value) X 100.
3. Calculations: Instead of wasting time in doing lengthy calculations, you must try to solve the questions using approximations.
4. Short cuts: One must use shortcuts to save time while calculating. For instance, here are two most widely used short cuts in DI:i. Doubling the value of variable is equivalent to an increase of 100 per cent, tripling is equivalent to an increase of 200 per cent, quadrupling to 300 per cent and so on.
ii. A% of B = B% of A i.e. 97.6% of 25 is simply one-fourth of 97.6
Attempt the following 10 questions and see where you stand as regards the Data Interpretation section of GRE Quant. You may call them your 10 step to perfection in Data Interpretation.
Friday, December 14, 2007
Good looking people get better jobs
If you are good looking, then you surely have an edge over any other average looking person, especially if the interviewer is of the opposite sex, revealed a study.
According to a study, hiring practices are dramatically influenced by a bias towards attractive interviewees in terms of high and low status job packages offered.
The study was led by Carl Senior and Michael J.R. Butler of the New York Academy of Sciences.
"When someone is viewed as attractive, they are often assumed to have a number of positive social traits and greater intelligence," said Carl Senior and Michael J.R. Butler.
They added: "This is known as the 'halo effect' and it has previously been shown to affect the outcome of job interviews."
The researchers looked at how the halo effect influenced a mock job negotiation scenario where male and female interviewers were made to see pictures of attractive or average looking male and female job applicants.
Interestingly, it was found that the female interviewers assigned attractive looking male interviewees more high status job packages as compared to average looking men. They also preferred attractive men over attractive women and gave them more high status packages.
Similarly, average looking men also got more low status jobs than average looking women.
However, male interviewers were not biased in the number of high or low status job packages that were given to attractive looking interviewees of either sex.
Infact, overall, the male interviewers gave out more status job packages, irrespective of the sex of the interviewee. But, the male interviewers still had their preferences.
EDR, The electrodermal response, a psycho-physiological response measured when emotions are used to make a preferential decision, of the interviewers was calculated.
It is believed that, when emotions are involved in order to make a preferential decision, the anticipatory EDR level increases.
A considerable increase was noticed in the anticipatory EDR when the male interviewers allocated the low status job packages to the attractive female candidates.
However, this difference only occurred while assigning low status job packages, ensuring that the effect had nothing to do with interpersonal attraction, but rather it was driven by emotion.
As female interviewers did not exhibit any significant EDR differences, it was implied that their bias occurs on a cognitive level.
This was the first application of EDR to examine the influential role of beauty, status and sex during job negotiations.
"From a business point-of-view, there is a need for leaders/managers to be aware of their assumptions in decision-making processes, be they strategic or operational, and that they may be prone to emotion and bias," said the authors.
This study, entitled "Interviewing strategies in the face of beauty: A psychophysiological investigation into the job negotiation process," is published in the Annals of the New York Academy of Sciences.
Tuesday, December 11, 2007
Moving beyond the 4 Ps of an MBA
Ask an MBA aspirant about the four Ps and you will be surprised by the response. In case you were expecting a typical straight-out-of the Kotler reply you will be astounded to hear words like Placements, Package, Profile and Prospects!
As news of summer internships comes in from top campuses and students heading to all corners of the globe, the aspirants can't be blamed.
This makes me ponder -- Is an MBA about just these four Ps?
With names like Goldman Sachs, Lehman Brothers, Macquarie, Merrill Lynch, McKinsey doing the rounds in portals of the top campuses, and the sweat and night outs for that day zero slot one cannot deny the all important 'P' factors.
Having said that, one cannot just 'quantify' the output of an MBA course by these factors. In two years of one's campus life, one has the choice of a number of 'take-aways' that are more durable than the first job!
Want an MBA? Test your business awareness
Knowledge: First and foremost, the MBA adds an immense amount of knowledge. Subjects ranging from Quantitative Techniques to Transactional Analysis help widen the domain knowledge. This learning may not be in too much depth, but surely in terms of breath of knowledge you are a know-it-all.
Presentation skills: With myriad class presentations, one is bound to become an expert in not only making PowerPoint presentations but also presenting them in a crisp, confident and professional manner.
Analytic skills: With the help of computer application tools like Excel and SPSS and the knowledge of various statistical and quantitative methods one is surely in command of analysing and number crunching any problem and coming up with an instant solution.
Networking: You end up studying, living, eating with over 200 of your batchmates, each from an different background -- diverse geographies, religions, educational backgrounds, work experience. Thus, an MBA college becomes a melting pot of learning from one another. What is more important is we also leave the campus with so many friends who would be working in various corporates across the globe.
Perspective: This is what B-schools have been known for. By way of case studies and contests -- students develop their own way of thought on a particular situation at hand. This helps future managers to have their own take on various situations/ problems they face in life.
Global MBA -- a post-CAT back-up option
Confidence: Presentations, quizzes, exams, inter-school competitions, simulated games all make one a more confident individual. In today's highly competitive world -- where dog eat dog is the order -- confidence is the most sought after weapon in the corporate jungle.
Team spirit: Well, this is not something that should be brushed aside. Team working skills are essential for success in any endeavour. B-schools ensure this by giving a platform in terms of group assignments and tasks. While working on it one encounters problems like social loafers, managing conflict, ego issues, coming to an agreement etc. This practice thus helps one achieve mastery at managing people.
Self understanding: By far the most important take-away for anyone -- to understand thyself. To understand what your strengths and weaknesses are. And thus work on things that are more 'fitting' them. To understand what motivates, the long term goals and break them into short-term goals is what one can hope to gain.
Thus, a budding MBA aspirant should look forward to an all-round growth and create relationships to last a lifetime from an MBA course to make the time spent here valuable forever. What about placements? As they say, it's just a freebie thrown in at the fag end to have something to look forward to after an MBA!
As news of summer internships comes in from top campuses and students heading to all corners of the globe, the aspirants can't be blamed.
This makes me ponder -- Is an MBA about just these four Ps?
With names like Goldman Sachs, Lehman Brothers, Macquarie, Merrill Lynch, McKinsey doing the rounds in portals of the top campuses, and the sweat and night outs for that day zero slot one cannot deny the all important 'P' factors.
Having said that, one cannot just 'quantify' the output of an MBA course by these factors. In two years of one's campus life, one has the choice of a number of 'take-aways' that are more durable than the first job!
Want an MBA? Test your business awareness
Knowledge: First and foremost, the MBA adds an immense amount of knowledge. Subjects ranging from Quantitative Techniques to Transactional Analysis help widen the domain knowledge. This learning may not be in too much depth, but surely in terms of breath of knowledge you are a know-it-all.
Presentation skills: With myriad class presentations, one is bound to become an expert in not only making PowerPoint presentations but also presenting them in a crisp, confident and professional manner.
Analytic skills: With the help of computer application tools like Excel and SPSS and the knowledge of various statistical and quantitative methods one is surely in command of analysing and number crunching any problem and coming up with an instant solution.
Networking: You end up studying, living, eating with over 200 of your batchmates, each from an different background -- diverse geographies, religions, educational backgrounds, work experience. Thus, an MBA college becomes a melting pot of learning from one another. What is more important is we also leave the campus with so many friends who would be working in various corporates across the globe.
Perspective: This is what B-schools have been known for. By way of case studies and contests -- students develop their own way of thought on a particular situation at hand. This helps future managers to have their own take on various situations/ problems they face in life.
Global MBA -- a post-CAT back-up option
Confidence: Presentations, quizzes, exams, inter-school competitions, simulated games all make one a more confident individual. In today's highly competitive world -- where dog eat dog is the order -- confidence is the most sought after weapon in the corporate jungle.
Team spirit: Well, this is not something that should be brushed aside. Team working skills are essential for success in any endeavour. B-schools ensure this by giving a platform in terms of group assignments and tasks. While working on it one encounters problems like social loafers, managing conflict, ego issues, coming to an agreement etc. This practice thus helps one achieve mastery at managing people.
Self understanding: By far the most important take-away for anyone -- to understand thyself. To understand what your strengths and weaknesses are. And thus work on things that are more 'fitting' them. To understand what motivates, the long term goals and break them into short-term goals is what one can hope to gain.
Thus, a budding MBA aspirant should look forward to an all-round growth and create relationships to last a lifetime from an MBA course to make the time spent here valuable forever. What about placements? As they say, it's just a freebie thrown in at the fag end to have something to look forward to after an MBA!
Friday, December 7, 2007
B-schools jostle over rankings
In a country with over 1,500 business schools (B-schools), the decision of which B-schools to apply often depends on the published B-school rankings and becomes a factor of elimination. B-school rankings are generally published every September -- just before the placement seasons begins.
Lack of uniform parameters while ranking them is what irks B-schools the most. It leads to confusion, they say. For instance, at last count, there were at least seven different rankings in print.
These rankings primarily cater to four sets of people: aspiring B-school students, current B-school students, B-schools themselves and the corporates who recruit from them.
A good ranking is expected to give a B-school the credibility to attract better companies. But is it so? Faculty, directors of management schools, and students are divided in the opinion about the rankings.
"Although students and corporates read B-school ratings, their authenticity is usually not the only source students or corporates would depend on while selecting an institute," opines Soma Sur, faculty at Army Institute of Management Kolkata (AIMK), an institute which has been rated among the top 40 B-schools by most rating magazines or agencies this year.
According to Sur, for aspiring management students, what matters most while selecting a management institute are placement reports and word of mouth from seniors.
As for corporates, many of them, like Tata Consultancy Services [Get Quote], conduct their own in-house research before deciding on which B-schools to recruit from and which ones to avoid.
"Moreover, an institute, which was rated 40 in one year, is suddenly 15th the next year, leaves readers completely confused as to what the institute did in one year to move up 25 places," Sur points out.
K T Chacko, Director of IIFT, says B-school ratings could be of significance to new-age management institutes, but does not make much of a difference to the old, established ones, since corporates have already learnt about the latter's reputation. IIFT Delhi has been ranked among the top 15 B-schools by most ranking agencies or magazines.
"For corporates, what matters is the quality of the students in terms of competence and intelligence. For students, what matters is in how much time they are able to get a job that would help them recover the tuition fee they spent on studying management in an institute," Chacko says, adding: "As the ratings were not of much help to us, we were once evaluating the possibility of not participating in the poll, but then decided against it because a lot of students read rankings, after all."
With so many B-schools involved, it may not be feasible for the ranking agency to check up each and every piece of information. The result is false information making its way into the process.
However, the positive consequence from these rankings is perhaps that B-schools try to improve on the parameters they are ranked on.
Lack of uniform parameters while ranking them is what irks B-schools the most. It leads to confusion, they say. For instance, at last count, there were at least seven different rankings in print.
These rankings primarily cater to four sets of people: aspiring B-school students, current B-school students, B-schools themselves and the corporates who recruit from them.
A good ranking is expected to give a B-school the credibility to attract better companies. But is it so? Faculty, directors of management schools, and students are divided in the opinion about the rankings.
"Although students and corporates read B-school ratings, their authenticity is usually not the only source students or corporates would depend on while selecting an institute," opines Soma Sur, faculty at Army Institute of Management Kolkata (AIMK), an institute which has been rated among the top 40 B-schools by most rating magazines or agencies this year.
According to Sur, for aspiring management students, what matters most while selecting a management institute are placement reports and word of mouth from seniors.
As for corporates, many of them, like Tata Consultancy Services [Get Quote], conduct their own in-house research before deciding on which B-schools to recruit from and which ones to avoid.
"Moreover, an institute, which was rated 40 in one year, is suddenly 15th the next year, leaves readers completely confused as to what the institute did in one year to move up 25 places," Sur points out.
K T Chacko, Director of IIFT, says B-school ratings could be of significance to new-age management institutes, but does not make much of a difference to the old, established ones, since corporates have already learnt about the latter's reputation. IIFT Delhi has been ranked among the top 15 B-schools by most ranking agencies or magazines.
"For corporates, what matters is the quality of the students in terms of competence and intelligence. For students, what matters is in how much time they are able to get a job that would help them recover the tuition fee they spent on studying management in an institute," Chacko says, adding: "As the ratings were not of much help to us, we were once evaluating the possibility of not participating in the poll, but then decided against it because a lot of students read rankings, after all."
With so many B-schools involved, it may not be feasible for the ranking agency to check up each and every piece of information. The result is false information making its way into the process.
However, the positive consequence from these rankings is perhaps that B-schools try to improve on the parameters they are ranked on.
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