Chairman Emeritus Reconnect 58 – Economics & Financial Acumen

My dear friends,

Economics and Finance have become the driving force of Humanity in modern times. A profound acumen is necessary for the empowerment of the whole of humanity to participate in an all-inclusive economic process. For example, providing good health care and quality education for the underprivileged or disadvantaged populations is not a charity but an investment creating quality human resource for expanded markets furthering the reach and scope of the economic engine (as discussed in World Economic Forum 2006 at Davos in Switzerland).

Three terms are generally used for Economic & Financial attributes

  1. Sense,
  2. Consciousness, and
  3. Acumen

Sense

A lack of sense like “Pennywise Pound Foolish” transpires when you are purchasing a hot water system for your bathroom, and you opt for an Electric Geyser of Rs 6,000/- against a solar water heater of Rs 30,000/- with no running electricity bill.

Consciousness

Delay in commissioning of a power project of 500 MW by a single day can cause a revenue loss of nearly Rs. 1 Cr. to the Generating Company and Rs. 10 Cr. to the national exchequer since multiplier effect of electricity on country’s economy (GDP) is more than 10 times. If this kind of awareness/ consciousness can be generated from concept to commissioning in the minds of engineers, time & cost over-runs can be eliminated from the landscape of project executions.

Acumen

Back in 1975, once a trainee engineer asked the Confederation of British Industry (CBI) President in U.K. a very embarrassing question during an Annual Dinner…as to why they were spending so much on the training of foreign scholars. What was their hidden agenda? (I was also present in that meeting as one of the scholars to listen to the prophetic acumen of the President). 

The President replied with a smile, “Even if one amongst you becomes GM of his company in his own country with a soft corner and appreciation for British Engineering & British products, even after 20 years from now, in one single contract, I shall recover all the expenses incurred on the entire batch of engineers sitting here”.

Deeper Intuitional Acumen

Rita w/o Prof. Robert E. Lucas of University of Chicago while divorcing in 1989 had a provision placed in the property settlement promising her half the winnings, should her husband receive a Nobel Prize before 31-Oct-1995. Getting Nobel Prize for Economics on 10-Oct-1995, Prof. Lucas had to shell out half of his One million $ winnings. His Nobel Prize was on the theory showing how Consumer experience rather than Govt. intervention shapes national economies. He could not envisage his divorced wife’s intervention in his own future economy!

Such deeper Financial Acumen can’t be taught in any Advanced School of Business. It can only be developed in a School of Life where spiritual intuitional powers interplay.

Time Value of money

A 1,000 Cr Project with a construction schedule of 10 years eventually costs Rs 1,650 Cr with 8% escalation per year on the unspent amount as per the normal implementation/expenditure profile. People generally keep planning (for future!) on the present value of money. This should be avoided by constant awareness that there is ‘time value’ of money.

Project time assignment for optimizing the cost

A World Bank study reveals the following:

 

 

 

 

 

 

 

As can be seen, Developing countries’ Model entails higher cost due to the disproportionate assignment of time amongst Planning, Implementation and Problem-solving. Developed countries, spending 40% of their time on “Planning”, demonstrate that they believe in the dictum “Well Begun is half done”.

NPTI Case Study of Financial Management

NPTI had decades of baggage of being a financial burden on the Ministry of Power, its revenue generation to expenditure ratio being 37% on an average when I joined as CEO in the year 2000. We decided to become 100% self-sustained at the earliest. We started looking at our operations microscopically. We found that there was a regular decrease of training load year by year from within the power sector. We realized that not being policy driven, training was becoming a least priority item on the agenda of Power Utilities. We approached the Ministry of Power to permit us to draft a “National Training Policy for the Power Sector”. It was agreed, prepared and got approved by the Union Parliament with the mandatory provisions such as “Training for All”-Minimum One week Training in a year made compulsory for each and every person working in the Power Sector, Provision of 1.5 to 5% of Salary Budget allocated to Training etc. This entailed 10 Lakh Trainee-weeks of Training Load spontaneously. NPTI being the sole National Power Training Organization in the Power Sector, everyone started looking at us for training.

However, making the National Training Policy was a long drawn process from concept to implementation, going through a series of meetings, seminars and workshops with the stakeholders at state, zonal and central levels, arriving at a consensus, Ministry of Power finally going to the Parliament for sanction, gazette notification and so on. This long drawn process took almost 2 years. Eventually, it was launched by the Hon’ble Union Minister of Power from the premises of NPTI on 27th March’2002.

Our resolve was to improve financially from Day-1. We looked at the possibility of educating and training the future generation of Power Engineers. On the training front, we realized that In-depth Power Training cannot happen without a strong conceptual back-up in the field of Power. For instance, without conceptualizing ‘Reactive power and Power factor’ can anyone imagine training on Capacitor banks; without understanding ‘Rankine Cycle’ can anyone predict the Performance of thermal plants?

Without feeling the Sine wave (the pulse) of Power Sector there can be no effective skill training, we were convinced. Academics and Skill Training are the two sides of the same coin. This led us to the backward integration of Power Training with academics. We started with Post-Diploma course in Thermal Power Engineering, B.E./ B.Tech. (Power); Post Graduate Diploma in Power Engineering and MBA in Power Management on the eve of Power Sector Reforms.

National Training Policy for the Power Sector did help us in generating training load but payments were still lagging from the bankrupt electricity boards on the plea that any cut on the budget is first applied on the training segment. In order to resolve this issue, we organized a workshop in New Delhi for Regulators (SRCs and the CERC) who agreed to include training expenses in the O&M budget forming a part of tariff structure for the entire Power Sector as was being accepted for NTPC. With this, the revenue component of Training started flowing with the tariff realization and consequently, our arrears started liquidating.

End of the day, NPTI was accepted as an ideal model of ‘Backward integration of Power Training with Academics’, UGC giving in-principle approval of Deemed University to the Centre for Advanced Management & Power Studies (CAMPS) of NPTI running a unique MBA program on Power Management, NPTI becoming the largest Power Training Institute in the world (expanding its 4-units to 10-units across the 5-Power Zones in the country), with the number of Trainees increasing by >600%, Training Load exceeding 75,000 Trainee-weeks per annum and at the same time becoming 100% self-sustained.

Summarizing the above, it can be inferred that “The wind may blow from any direction, but the direction in which you go depends on how you set the sails”.

Above given are only a few facets of economic astuteness (setting the sails) to show that there is a link between economic activity and human consciousness and spiritual sense. Deep acumen needs to be developed and practiced in life to achieve economic brilliance for the benefit and well-being of the Society at large.

 

Satyamev Jayate!!!

With Best Wishes and Regards,

Dr B.S.K. Naidu, Chairman Emeritus, Great Lakes Institute of Management, Gurgaon, INDIA

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What does Great Lakes Institute of Management look for in a Candidate

What does Great Lakes Institute of Management look for in a Candidate

“Do I possess the qualities required to get into a top B-School?”

This is the question that goes through the minds of all professionals a few years into their careers. Great Lakes Institute of Management goes through thousands of applications each year and only a select few get accepted.

So, what differentiates the selected applicants from the rejected ones?

Before answering this question, one must understand the fact that entrance exams like CAT, XAT, GMAT, etc. are just the tools for primary filtration. If a good test score is the only weapon in your arsenal then you’re in for a surprise as the final selection depends on a candidate’s performance in the subsequent stages that include PI, essays, group discussions etc. The basic idea behind such a rigorous admission process is that a candidate must be able to justify his/her test score with something more substantial.

The Great Lakes admissions committee is always on the lookout for that one factor in the applicants which makes them stand out from the crowd and if you possess even one of the following qualities, you’ll gain a significant advantage over rest of the applicants.

Potential to drive Business Impact through Leadership

Leadership potential is the top box to check when you apply to Great Lakes. We want to invest in an applicant who’ll go out and make an actual difference in the real world. Therefore, you will have to demonstrate that you possess what it takes to be a leader either in your work experience, academic life, extracurricular activities or elsewhere.

Demonstrated Track Record of Achievement

We keenly seek applicants who have a demonstrable record of achievement. We truly believe that achievement can manifest in many forms, from academic excellence to college extracurricular activities to professional accomplishments, to personal wins.

We value demonstrated achievement irrespective of its scale and sphere; whether you’ve started up a company, headed a project at work, captained a sports team or organized a relief fund, we consider all these as examples of achievement.

Interpersonal and Communication Skills

As an MBA Grad, you’d be expected to not just be good at what you do but also effectively portray that you are good. You need to be able to market yourself and effective communication and interpersonal skills are the key to do that. If you are a brilliant professional but can’t make a pitch for your ideas and opinions or can’t convince others about your potential, then you probably aren’t ready for the big leagues. The essays and personal interviews are the stages of the admission process where you can showcase your communication skills.

Relevant Work Experience

Work experience of minimum 24 months is a mandatory eligibility criterion for applying to the PGPM program. But more than your career choice, you’ll be assessed on the basis of the progress you made professionally vis-a-vis your earlier self. The factors that make you stand out are the consistent upward movement of our career graph, roles & responsibilities on the job, team-building, managerial tasks and proactive approach.

Thought Clarity & Career Aspirations

When you’re applying to Great Lakes, you must have a few choices to help you lay down a foundation. Whether you wish to achieve a leadership role or switch careers or become an entrepreneur post your graduation, you must be able to clearly communicate it to the Admissions Committee. Remember, it’s not just about securing a place in a B-school, it is more about what difference you want to make in the real world and neither is possible without aspirations and ambitions.

Right Fit with the Program

All MBA programs have a personality. For example, the PGPM at Great Lakes is best suited for professionals who have proved their mettle in the industry and are now looking for an accelerated growth. The PGDM, on the other hand, has a completely different approach as it prepares the individuals to face the real world business challenges for the first time. In order to secure a place in Great Lakes or any other B-School, you’ll have to effectively justify that you’re not just compatible with the program but with the culture of the school as well.

We at Great Lakes are looking forward to meeting you. So, Good Luck and May the odds be ever in your favour.

 

Team Admissions

The Final Question

The Final Question

“A panel interview is also an opportunity to get to know more about the programme, and show that you’ve done your homework”

Many candidates prepare for questions commonly asked by panels during admission interviews. There are a plethora of websites offering insights into the kind of questions asked and their probable answers. Usually, there is one question asked at the end of the interview, and that is, “Any questions?” We never prepare for this. After all, we are not interviewing the panellists, are we?

We ask questions like “How did I do?” or “When will I get to know the results?” which are really of no consequence. The interviewer is not going to tell you about your performance and the question about results can be answered by the support staff.

The Right Questions

So, what questions could you ask which would make an impact on the panellists’ decision?

First of all, be familiar with the institute’s activities. You do not need to meet or search for people who know about the institute. The institute is as keen to sell itself to outstanding candidates, as you are to sell yourself to them. They would have showcased the things they are proud of on their website or in the brochure. You should have gone through this material in detail. Your questions should reflect that you are serious about joining this institute.

The seven questions to ask:

  • Sir, going through the website I noticed that there is focus on industry interaction. Do the students also have a role to play in engaging with the industry or is it institute-driven? — This shows proactive nature as well as enthusiasm for taking part in the institute’s functions.
  • There appear to be many activities during the year. Given my background, what kind of activities should I participate in, to develop my personality? — This shows your knowledge of the activities and desire to do something apart from academics.
  • Is there a formal mentorship programme to guide us in your institute?
  • You can discuss special interests or community activities, and ask how the school could help you pursue them. For example, I am an avid ( ), will there be an opportunity in your institute to showcase my talent?
  • You could ask about faculty research or the school’s approach in an area that concerns you – I am a keen (), will there be an opportunity in your institute where I could contribute?
  • What courses or activities should I engage in before joining your institute, which would enhance my learning experience? – This would showcase a keen interest in improving yourself and using the time between selection and start of the programme in a constructive manner.
  • What are the student bodies that I could join to contribute to the institute’s legacy?

Originally Published on The Hindu

Author: Dr Poornima Gupta

Associate Professor, Organizational Behaviour and Human Resource Mangement

Great Lakes, Gurgaon.

XAT 2018 – Last Minute Tips and Strategies

XAT 2018 – Last Minute Tips and Strategies

With less than 72 hours to go for Xavier Aptitude Test (XAT 2018), you must be well prepared for one of the most coveted B-School entrance exams held in the country. In these crucial last few hours, there is no point in cramming up new things. What you need to do now is work towards revising and retaining what you have already studied in the past months.

Now that XAT is just around the corner, here are a few last minute tips that will keep you calm and help you do better on the D-day.

Get Acquainted with the New Test Pattern

XAT 2018 is going online for the first time in the history of XAT and therefore, it will be wise to get acquainted with the new pattern. This will help in saving crucial minutes when you sit for the actual test. You can get familiarised with the new XAT test pattern on www.xatonline.in. The link for the mock test is available on the tickr at the top of the home page.

Revision

This is the time when you need to focus heavily on revisions and treat your short notes as The Bible. Revise all important concepts, facts, dates and formulae. Don’t waste your time in starting new topics at this stage. Instead, devote your time on clearing confusions and strengthening what you have already prepared.

Speed & Accuracy

Your performance in the upcoming XAT 2018 is highly dependent on what you have prepared and how good your command is over the topics you consider to be your strengths. Remember the fact that speed and accuracy matter more than anything else. There is a negative marking of 0.25 marks for each wrong answer and a penalty of 0.05 marks per question if you skip more than 12 questions. But XAT is a low scoring exam, so focus on accuracy is extremely important to ensure that you don’t lose hard earned marks. If you can’t answer a question, it is better to lose 0.05 marks for not attempting as compared to losing 0.25 marks for a wrong answer.

Formulate an Exam Strategy

Entering the exam centre without a sound strategy is like going to a gunfight with a wooden sword. If you want to score well on the exam, you need to finalise a strategy and then stick to it during the test. It is advisable that you set aside 45 minutes for each section of Part 1 of the exam and use the remaining 35 minutes to revisit tricky questions from each section. While working on Part 2 of XAT, get done with the General Awareness section in the initial 10 minutes and then focus on the essay for the remainder of the time.

Don’t be in a Hurry with RCs

Reading Comprehensions are the trickiest part of the paper and hence, take your time with them. Read the paragraphs carefully and follow an elimination approach while attempting the questions. Do not over attempt the questions and revise topics like Active Passive, Direct Indirect, Jumbled Sentences and Figures of Speech before entering the test centre.

Decision Making

Decision Making is a unique section of XAT. But, if you are weak in Quantitative Ability, then you can make up for that in this section. Questions in DM can be a little mind boggling and you might feel that all the options sound like the right one. Hence, be careful, read the questions wisely, and practice a lot of examples. Also, revise all the tips and tricks religiously to keep them fresh in your head while taking the exam.

Don’t worry too much about General Awareness

General Awareness section’s marks are not a part of your XAT percentile calculation and your performance in this section doesn’t matter if you are aspiring for any B-school other than XLRI. Even for XLRI, scoring 5-6 marks here will be enough to counter any negative perception.

Stay Composed and Determined but most of all, DON’T PANIC

If you have prepared well and have given your 100 per cent till now, then there is no reason to fret. Stay calm and confident during the exam. Don’t panic even if you are unable to answer the first couple of questions. Remember that you’ve got this, you’ve prepared well for it!!

Good Luck!!

Chairman Emeritus Reconnect 57 – Spirituality

My dear friends,

Spirituality originates from the term “spirit” or “soul” which is invisible and imperceptible. Therefore people at large avoid dealing with it. But, there are several invisibles like Electricity, Magnetism, X-rays, Gravity, Goodwill and Blessings which can’t be seen but felt, having their own relevance.

India is believed to have “spirituality” in its soil, but many consider it as a pursuit to be indulged in post-retirement life. Spiritualism is not a leisure activity; it is a way of life. It is a certain way of being, turning inwards and remaining connected with the inner self- the supreme intelligence, which can convert filth into a lotus or a mango. There is a captive creator trapped within each one of us, like any other creation. We shouldn’t miss him. If we recognize the source of creation within us, we are spiritual.

Fingerprints of the Supreme Intelligence

Since the dawn of civilization man has gazed in awe at the stars, wondering what they are and how they got there. On a clear night the unaided human eye can see about 6,000 stars. Prior to the 20th century, the majority of scientists believed our own Milky Way galaxy was the entire universe, and that only about 100 million stars existed. Now, Hubble and other powerful telescopes indicate there are trillions of them clustered in over 100 billion galaxies. Our sun is like one grain of sand amidst the world’s beaches. The positioning of the cosmos besides its creation is awesome!

The coding behind DNA reveals such intelligence that it staggers the imagination. A mere pinhead of DNA contains information equivalent to a stack of paperback books that would encircle the earth 5,000 times. And DNA operates like a language with its own extremely complex software code. Microsoft founder Bill Gates says that the software of DNA is “far, far more complex than any software we have ever developed.”

Genius behind the Grand Design

Albert Einstein called the genius behind the universe “an intelligence of such superiority that, compared with it, all the systematic thinking and acting of human beings is an utterly insignificant reflection.” Atheist Christopher Hitchens was most perplexed by the fact that life couldn’t exist if things were different by just one degree or one hair.

Davies acknowledges “there is for me powerful evidence that there is something going on behind it all. It seems as though somebody has fine-tuned nature’s numbers to make the Universe…. The impression of a Grand Design is overwhelming”.

Who am I?

If you ask a question hard enough to yourself “Who am I?” the answer comes loud enough that you are not your name, your qualification, your position, your body, your gender or your species. Consciousness (चेतना) and Energy are responsible for your existence, growth and self-healing. The moment these leave you, you are declared dead.

Is our life on Autopilot?

For most of humanity, life is on autopilot. Body consciousness overpowers our existence. Soul does not get a chance to reveal and assert itself, though it vibrates and reverberates in the form of inner voice (intuition). Its existence is also concomitant to 6th sense or 3rd eye.

“The source of life is within you. If you remain in touch with that source, everything about you will be beautiful” says Padma Vibhushan Sadhguru of Isha Foundation. “Talk to your own self at least once a day, otherwise you will lose an opportunity of meeting a wonderful person on earth,” said Swami Vivekananda.

We have to be constantly aware that we are spiritual beings (individualised units of supreme consciousness – we may call them God sparkles) having human experience! God sparkle (a piece of life) has unlimited scope for blossoming, flourishing and undergoing infinite expansion.

Being Spiritual

Being spiritual is just being aware of the spirit inside and attending to its needs. Our body has material needs of food, water, cleanliness, exercise etc. which we fulfil duly as it keeps us running. Similarly, our soul too has needs of peace, purity, humility, positivity, righteous living, love, bliss etc.  Do we fulfil these needs?” More we fill ourselves with these divine virtues, more happiness we will experience ourselves and receive the gift of closeness with the prime-moving divine.

Spiritual Maturity

What is spiritual maturity? Spiritual Maturity is when you stop trying to change others, …instead focus on changing yourself; when you understand everyone is right in their own perspective; when you learn to “let go”; when you understand whatever you do, you do for your own peace;

when you don’t seek approval from others; when you are at peace with yourself and you can productively use the 3-faculties of soul i.e. Mind, Intellect and Sub-conscious recordings (संस्कार).

Spirit is consciousness (चेतना), rest of our existence is energy and matter. Being spiritual is to align with the divine virtues of the spirit stated above. It can transform our lives altogether. Our actions will automatically be positive and enchanting!

Let me wish you a happy, insightful and fascinating new year 2018!

 

Satyamev Jayate!!!

With Best Wishes and Regards,

Dr B.S.K.Naidu, BE (Hons), M.Tech., Ph.D., D.Eng. (Hon), FNAE, Hon.D.WRE (USA)

Chairman Emeritus, Great Lakes Institute of Management, Gurugram, INDIA

The Success Mantra for Start-Ups: Great Lakes Guest Lecture Series

The Success Mantra for Start-Ups: Great Lakes Guest Lecture Series

GREAT LAKES GUEST LECTURE SERIES – Mr DEEPAK GOEL

CEO – KARMACIRCLES

“Do. Or Do Not. There is no try” – Yoda, Jedi Master

Understanding of the above quote is an important pre-requisite for an entrepreneur to be successful. The path of Entrepreneurship is the one that is filled with utmost uncertainties that one can face compared to the other naturally progressing career options.

Being an aspiring entrepreneur, Great Lakes, offered me ample opportunities to interact and learn directly from the masters of this trade. As the campus is located in the corporate hub of the country, Great Lakes, Gurgaon enables extensive industry engagement with entrepreneurs, CXOs and industry experts as they visit the campus regularly to share their perspectives with the future business leaders of the nation. That’s how our batch (PGDM 2017-19) got to meet Mr Deepak Goel, CEO & Founder Karmacircles.

Mr Deepak Goel’s Guest Lecture at Great Lakes Institute of Management, Gurgaon was a compilation of his life and thought processes that aimed at providing the students with a more Entrepreneurial viewpoint of life rather than just living in terms of pay packages. An IIT-Delhi educated techie who went on to live the “American Dream” with his job at Microsoft to pursuing his MBA at UC, Berkeley to working at multiple companies from scratch with an entrepreneurial spirit and making them grow to where they are today, he has worn multiple hats because of his multi-faceted skill sets. This is what differentiates him from the other bunch of entrepreneurs, at least in the Indian context. He truly learnt the art of Entrepreneurship in and out, theoretically and practically to be able to follow his life calling of creating Karmacircles.

The lecture was a mix of Startup Organizational Culture, Valuation of Startups, General Principles of Success and quite an insightful bunch of advice to the multiple questions asked by the Students.

At the start of the lecture, he laid a very simple formula for a successful startup involving just four steps. (1) Identify the problem you want to solve, (2) Solve the problem, (3) Monetize the Solution created and then (4) go for more money to scale up the solution. A rather simple algorithm which in reality is really difficult to follow as even developing/handling that one simple product/solution is quite complex. This is what calls for the Product Management Concept. Explaining his understanding and experiences in Product Management, he expressed dissatisfaction of how Product Management is done or pursued by organizations in India as it still remains to be a highly misunderstood concept in the country. Being a seasoned professional in the field, he emphasized how the concept can help in building successful products within a company, going on to creating multiple successful companies within a big company, like Google. Working at Microsoft, he knew much more about Google and its processes than Microsoft which earned him the name of “The Google Guy.” He then shared some insights as to how Google managed its Product Line and has grown from a Search Engine to the huge yet entrepreneurial tech-conglomerate it is today.

He then went on to share his learning experiences under the guidance of Eric Ries of the Lean Startup fame and even Eric Ries’ Guru Steve Blank. The two major concepts he learnt were The Value Hypothesis and Growth Hypothesis. When these philosophies are incorporated in a company in its ideation phase, it significantly enhances its probability of achieving long-term success, thereby, ensuring value and growth creation.

Explaining Value Hypothesis, Mr. Goel talked in detail how companies can create value. Not just in monetary terms, but value that customers can relate to. But for doing so, the companies must have an eagle eye vision of the solution of the problem that they set out to tackle. Giving real examples from the start-up and corporate world, he differentiated how certain companies create value straight away to companies that create value over time.

Constantly comparing his Valley experience to his Indian experience, he stated that Indian start-ups and new-age companies mainly focus only on creating monetary value but not the intangible value and many of those companies go on to create initial momentum, to a great extent monetize it, but keep pushing their goalposts for the value creation. One of the main questions he raised during the lecture was whether these companies will be able to continue the momentum once the cash inflow slows down.

Explaining Growth Hypothesis, he talked about continuously doing what you do best and create personal and home-ground advantage in areas as such to create a true product that can grow sustainably over time.

Commenting on the Indian attitude of approaching jobs, he shared his story further and explained how he took several pay cuts in order to expand his learning curve, something he finds lacking in the Indian scenario. Linking the topic, he shared the factors one should consider while taking up a new job and said that the person you are going to work for, is the most important factor. Not being completely driven by package but rather through the group one is going to work with and the learning outcome one has out of the job as other major factors. He advised students to be ethical and act professionally when it comes to working in organizations.

In the last few minutes of the lecture, he gave a brief glimpse of his passions which include, Social Networks, Mentoring, and creating valuable products that solve problems. Being an aspiring entrepreneur myself, I found this session to be the most illuminating.

Such interactions with industry stalwarts prepare the students for the challenges of the business world and Great Lakes gives utmost importance to these guest lectures as they are the most crucial ingredient for developing business ready managers. The importance of these interactions is evident with the fact that 150 plus industry leaders, entrepreneurs and CXOs have visited Great Lakes last year and shared their valuable insights with the students to prepare them for what’s to come.

Author: S SnehanshN

PGDM, Class of 2019, Great Lakes, Gurgaon

Droom B-Plan: Great Lakes, Gurgaon, Students grab the 1st Runner-Up Spot

Droom B-Plan: Great Lakes, Gurgaon, Students grab the 1st Runner-Up Spot

Droom is recognised as India’s first and only online market place for buying and selling new and used automobiles. The founder, Sandeep Aggarwal, a strong believer and implementer of his own mantra, “Companies may fail, but entrepreneurs never fail”, is one of the mentors in what is itself is India’s first startup reality show, ‘MTV Dropout’.

Great Lakes, Gurgaon, Students – Rupali Jain, Tejveer Singh Kalsi & Tushar Singh grabbed the 1st Runner-up spot at the prestigious national level B-Plan competition organized by Droom.

We met with the team to know more about their overall experience

Q. What exactly is the Droom B-Plan Competition? 

The basic idea of Droom B-Plan Competition is that the participants are required to come up with the ideas regarding the expansion of Droom in C2C market and submit a Business Plan for the same.

Q. What was the Business Plan your team came up with?

As per the problem statement, we were supposed to carry out a market research that comprised of three components i.e. competitor, product and consumer research. Based on the market potential that was analysed, we came up with a disruptive Go-to-market strategy that would help Droom in garnering maximum market share in C2C space.

Q. How tough would you describe this competition?

This competition expected to recognize the brightest business minds across the country by assessing them on their strategic response to real business situations experienced by Droom. It was open for all and saw an overwhelming participation from a huge number of colleges and corporates including IITs and IIMs of the country.

Q. How would you describe the overall experience of your outstanding performance on this platform? 

It was an immensely enriching experience for us to have been part of such an event which not only helped us in putting all the learnings acquired from GLIM into practical implementation but also provided us with credible wings so that we can fly in the direction we coveted the most. Moreover, the honour of being associated with one of the stalwarts of the business world is in itself a feeling that is hard to depict in words.