Indian Institute of Management, Kozhikode GDPI Experience (2011) - 2/3
Candidate: Abhishek 
Work Experience: 30 months
Interview Centre: Hotel Vikram, NDLS
Written Assessment Test (WAT):
But then, this was something that was going to stay, and when situation in urban areas was so severe, I could only imagine how the conditions must be in the country side. In this situation, Mayawati has brought the much needed self respect back to these people. She has given them a hope, that yes , there is somebody out there in the government who thinks of you. This nation has not rejected your lot, and left you to rot in the darkness of poverty, illiteracy and discrimination. Rather you are very much a part of this nation and stakeholders in its democracy. All that was needed that these people be given a faith that yes, they can compete with the upper castes and the more fortunate for the nation's resources and opportunities and they can also do well, and then they'll start doing it on their own. For that matter I appreciate Lalu Prasad Yadav of bihar a lot too sir. Before he came to bihar, the situation was so severe in bihar that a lower caste person couldnt imagine standing amongst higher caste people without fear. And this i've got from one of my friend who is from Bihar. But 15 years of his rule in bihar has done wonders to their self confidence. True, he may not have a wonderful track record as far as development and corruption is concerned. But may be the man on the street probably didnt want development as much as he wanted self respect. And he gave him that in Bihar, as what Mayawati gave in UP. If I were given a chance to change Bihar's past and say change those 15 years of Lalu's rule with a leader of my choice, I'd again want Lalu only to have ruled in those 15 years there. And which is when I came to the conclusion sir, that in a democracy the people are never wrong. They know it best what they want, and we as spectators from other states, have no right to interfere in their internal business or comment on that. (MB was getting so emotional and so was I. We both could have cried and hugged each other at that moment. All the while, CR was an uninterested listener)
MB: And now what do u feel about Nitish Kumar?
Me: Sir, once the people of bihar got the much needed selfrespect to begin with, now they wanted development, jobs and other good things. And which is when they've now got the right man for the job at helm. NItish kumar is working real hard to lift the lot of bihar out of poverty and depreviation. The crime rate is lowered , law and order situation is improving, he is cracking down on corruption, highways are coming up. Things are really looking up in bihar today. 5 years back, it was unimaginable to think of flyovers in bihar, and today u have several flyovers coming up in patna.
MB: And how do u compare his ways to Narendra Modi?
Me: Sir, Nitish Kumar is more inclusive in his ways. While Narendra Modi is more autocratic in style. But then both have honest intentions, and both are hardworking, both are bringing development. Styles may be different, but it doesnt really matter as long as they get results.
MB: (happy and thoughtful) U really love politics , dont u?
Me: (With a hesitant smile) I do sir
MB: Would you like to join it?
Me: I would sir. But I know I cant. Its very difficult to join politics in india. And anyways, running a nation is like running a company. You need management skills at both places. Our chief minister runs our state like a CEO of a company.
MB: Is it really same as running a company?
Me: Well not exactly same sir. In running a state one needs to look at a lot of social responsibilities also. Like my home state gujarat, lags severely on health and education indices. And as an able chief minister , Modi is working really hard on them. Sometimes I wonder when he has been such an efficient administrator , why then is he having difficulties in improving health and education indices. But then sir, a lot of our problems and success are deep rooted in our cultures also. No one understands money better in india than Gujaratis and they'd anyways have got a lot of money flowing in the state. Modi may be only gave that same flow a little bit of push. When it comes to education, things are a bit difficult. I still remember an industrialist friend of mine tell me about what his grandfather,who had set up the factory that is their family business now, told him. He told him that education only makes one a good employee. We need to become good employers. (MB smiles) So u see sir, mentalities and mindsets are very difficult to change. In gujarat, once u get a job, or start a small time tea shop also, students drop out of schools in villages. It is very difficult to convince people to stop earning and keep learning. But then, Modi is a very hard working man sir. He has been working on it, and I have full faith in him. I am sure he'll do it.
MB: (Totally satisfied with me by now) So Abhishek, why IIM Kozhikode?
Me: (showing full surprise at the question) Why IIM Kozhikode!!! Its IIM sir! Kozhikode, Lucknow, Indore.... does it really matter? U are a faculty at IIM sir and I really dont know how it feels to sit on that side of the table and ask questions, but for us students on this side sir, IIM is God LIke. It matters a lot sir.
MB: (Totally elated. Needs no more explanation): Any questions u'd like to ask us ?
Me: I was so happy I just wanted to come out and rush back to my friends. I kept smiling and shook my head. We thanked each other and I finally left.
Topic: "Nothing is more conducive to peace of mind than having no opinion at all"
Number of candidates: Lots. didnt bother to know. may be 50-60
Time: 30 mins
Brief Snapshot of Discussion:
Personal Interview:
Panel Members Intro:
Number of candidates: Lots. didnt bother to know. may be 50-60
Time: 30 mins
Brief Snapshot of Discussion:
Personal Interview:
Panel Members Intro:
- Prof C RAJU (Quantitative Methods and Operations Management )
- Prof Mahesh Bhave( Strategic Management )
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As I enter the PI room, I see both CR(left) and MB(right) across the table. Pleasantries exchanged, and I am allowed to sit.
MB: (Looking at my form) So Abhishek , U r from Vadodara, hmm? (Me nodding in agreement). U've come all the way from vadodara for PI.
Me: My hometown is vadodara sir. I've come here from Haridwar. I work at BHEL haridwar.
MB: So tell me something about BHEL, Haridwar.
Me: We have 2 units at hwr. One is HEEP which is one of the major units of bhel. It manufactures Turbine and generator sets and other allied components. My unit is the foundry forge unit. It is a feeder unit and makes castings and forgings for the inhouse use of bhel. Our major orders are from HEEP itself and so unit is located at haridwar. But we take orders from BHEL BHopal, Hyd and Trichy also.
MB: Oh, so even Hyd , Trichy are BHEL units?
Me: Why ofcourse sir. They are the Major Units of BHEL. Mine is only a small feeder unit.
CR: So why MBA now?
Me: My standard answer. Lots of gyan. Included statements were I showed my interest in finance and desire to learn more on the subject.
CR: So given a chance, which specialization would u choose at IIM?
Me:Finance sir. I wouldnt do it from any other field.
CR: Why Finance?
Me: I am inclined towards finance sir. That is my interest
CR: How and When did u realise that you are interested in finance?
Me: Sir, since high school, I'd always get interested by things such as the annual reports of companies that my father would get. I'd read those balance sheets and try to make sense of them. Terms such as PBT, PAT, turnover were quite known to me , long before my friends had ever even heard of them. Then when I came to BHEL, I got interested in the finances of my company, and studied the same information about my company. Anyways, I was good at mathematics , and found it easier to do these kind of accounting. When I couldnt find many avenues to satiate my hunger for more knowledge in the field, i'd resort to NCFM courses and financial newspapers and tried to know as much as I could.
CR: So u say u have interest in finance. Tell me, how do u (me in particular) decide which company to invest in , in case of stockmarkets?
Me: Sir, I'd look to invest in those companies which are undervalued in the market. Where people out of their fear or some negetive sentiment, have undervalued, a potentially strong company, and which will eventually come up once the picture becomes more clear to people. For eg due to recession and more recently due to bank rate hikes, people have developed a negetive sentiment about the banking industry. Scripts of biggies like ICICI bank and HDFC bank have crashed from highs of 1200-1600 range to as low as 300-400. But these are solid banks and have sound finances. They wont go down so easily. AS u can see, their scripts have already come up a lot. And as things become clearer, they'll rise further, bringing them closer to their actual value.
CR:How do u decide which companies are undervalued?
Me:I try and look at the balance sheets of the company from its annual reports. Find out company's order books position in case if its a manufacturing company. Look at the governnment policies for the sector and analyse from experts' views as to how well the company is placed to capitalise on or shield itself from them, as the case may be. Read news reports on the company and try to see where the company policies are headed. Overall from all these, if i analyse that the company has a sound future ahead, and still find that people have not realised this yet, and due to some negetive sentiment, the company is undervalued, i'd invest in it.
CR: So Abhishek, suppose after you passout of IIMK and suppose some loss making company, which hasnt done well for the past 20 years, whose balance sheet has never been good, and wherein the newspapers have always reported negetively about it, offers you a high amount of salary and recruits you. And now it tells you that they have a sound strategy ahead, a good team with good people like u and that they've decided to work hard in future, and asks you to sell its shares in the market, how would you go about doing it?
Me: Sir, I'd explain, how we have a sound strategy, explain what we plan to do hence forth in future, and how it shall open vast opportunities for us. And that we'd have a bright future ahead , so kindly invest in us.
CR: Hmm, so just because the company pays you high to do so, u'd go ahead and sell its shares, whether u believe its worth investing in the company or not?
Me: Sir, I assumed the fact that the company would have already explained its future strategy to me, and once I myself would have started to believe in it, i'd sell it. It wont be very difficult to ask people to believe in something you already do.
CR: What if you yourself were asked to invest say 30 lakh rupees of yours to invest in that company, would you do so?
Me: Ofcourse sir. If I am convinced of the company's strategy , and believe in its sound future, I'd surely invest in it. In fact, I have invested in companies like that. I've invested a considerable amount of my money in Suzlon Energy. Now this company is not perceived to be in strong financial condition. This is purely because the company is in heavy debt which it took for overseas aquisitions. Newspapers have been reporting negetively on its health. Its share script has fallen from a high of 140-150 and now trading in 40s. But I believe wind power has a very strong future. It'll be the one of the major driving forces of power production in future and as a company which has already visualised this and has invested heavily in manufacturing facilities will obviously have a first mover's advantage in this and do well to emerge as victorious.
MB: So , u believe wind power has a future eh?
Me: It has a very bright future ahead sir. And as the fossil fuels start to get depleted, it could no longer be avoided also
MB: And what do u have to say about solar power?
Me: Sir, solar power is also a very useful source of power. But then, setting up a solar power plant is very costly. The equipment and setup is not cheap. And the resultant electricity is therefore costly, around 10-12 Rs per unit. In current times I dont think solar power can survive without govt subsidy and power purchase agreements. A few states , including my home state gujarat , is going about doing this, and hence investment is coming into solar power too. But I feel, it'll take some more time and lot of R&D into solar power, whereby we may be able to setup a solar power plant at a cheaper cost. Untill that happens, solar power will have to wait to come on board in a big way. (MB getting more and more impressed with every passing statement. Later on I find that renewable energy, austrian economics, etc were his research interests and I had by mistake ventured into his forte)
MB: But do u know that wind power is intermittent and there are usually no transmission lines close to the windmills. The grid companies also have complains, that if they allow wind power to be put on grid intermittently, it damages their equipments.
Me: Sir whether they like it or not, they cannot avoid wind power. Earlier there was a time when the cost of power produced in thermal power plants through coal would come out at 1.5 Rs per unit and at that time people would even frown at using wind power coming at a cost of 4-5 Rs per unit. But things and times are changing. Fossil fuel reserves are getting depleted by the day. The new UMPPs are being planned in coastal areas and govt has clearly directed them to use imported coal for their use. The coal that comes from these places such as indonesia is not as cheap as the indian coal is, and hence the cost of thermal power is increasing. Moreover with the world getting more aware about pollution and green house effect, and the idea of carbon credits coming, you even have to pay (i.e. buy carbon credits) if u pollute. Hence the cost of thermal power is no longer affordable, and with its cost rising, suddenly we find wind power more affordable. I believe, in future, we can no longer ignore wind, tidal and hydel power. And once solar power technology is worked upon to make it cheaper, it'll be coming in a big way too. (Again I get one "good " from him)
MB: Ok, given a choice, suppose you have a choice of using a 1 MW turbine or a 1.5 MW turbine for a wind mill, which one would you go for?
Me: Sir, for that I'd first have to do a proper analysis of the area, the wind velocity and other parameters of the particular area and calculate for what capacity of the turbine, will the windmill work at maximum efficiency. I dont know how they do in windmills, but I'll tell u, in case of thermal power sets, we have something nowadays, called as supercritical technology. It is the ideal capacity of the turbine-generator-set at which the fuel would be used at maximum efficiency. What if i put up a 1.5 MW turbine set and the wind velocity is not strong enough to move it , it wont help. If a 1 MW turbine is more suitable, i'd rather have two windmills of 1MW set up rather than one of 1.5 MW( MB was very very happy now and was jumping with joy. Offerred me a biscuit from the tray in front of him. took and thanked him)
MB: Can u tell me now who is the minister for new and renewable energy ?
Me: (with a smile) No sir. I had read it before. But dont remember it anymore
MB: (smiling) Farukh Abdullah?
Me: Hmm. Now I know its him. Couldnt recall
MB: (reading my profile) So what is this NITK?
Me: National Institute of Technology Karnataka, Surathkal
MB: ok. so u have also studied polymer science , hmm?
Me: Sir actually because its metallurgical and materials science, for the sake of material science, we have one subject on polymers and one subject on ceramics. According to us metallurgists, all materials can be classified into metals, ceramics and polymers. Hence namesake we have one subject on polymers and ceramics. Not very deep study. Just superficial.
MB: So u are a metallurgical engineer, eh? U know, I am a chemical engineer ( I nodded and exchanged smiles. Finally the secret engineer-engineer brotherhood was coming alive. CR didnt like this and he took the discussion to an uncomfortable area)
CR: Anyways, tell me what is the basic difference between a life insurance and a general insurance.
Me: Sir in case of life insurance the Premium amount goes on increasing as the person gets older, while in case of a general insurance, say for ex a vehicle, the premium amount goes on decreasing as the vehicle gets older.
CR: No. I dont understand this. Why should it be so. In both cases the things get old right?
Me: Actually sir the premium amount depends on the amount of risk the insurance company takes to insure the item or person. In case of life insurance , and older person stands greater risk of death or disease, and hence there is a greater probability that the company will have to pay up if it insures his life, as compared to a younger person. In case of a vehicle there is always a depreciation in its value. A new motorbike would cost 50000 Rs, but a 5 yr old may cost 10000 Rs. So, if a new bike gets stolen, the company stands to lose 50000 rs but for a 5 yr old bike the company would have to pay up only 10000. So less the risk, lesser the premium.
As I enter the PI room, I see both CR(left) and MB(right) across the table. Pleasantries exchanged, and I am allowed to sit.
MB: (Looking at my form) So Abhishek , U r from Vadodara, hmm? (Me nodding in agreement). U've come all the way from vadodara for PI.
Me: My hometown is vadodara sir. I've come here from Haridwar. I work at BHEL haridwar.
MB: So tell me something about BHEL, Haridwar.
Me: We have 2 units at hwr. One is HEEP which is one of the major units of bhel. It manufactures Turbine and generator sets and other allied components. My unit is the foundry forge unit. It is a feeder unit and makes castings and forgings for the inhouse use of bhel. Our major orders are from HEEP itself and so unit is located at haridwar. But we take orders from BHEL BHopal, Hyd and Trichy also.
MB: Oh, so even Hyd , Trichy are BHEL units?
Me: Why ofcourse sir. They are the Major Units of BHEL. Mine is only a small feeder unit.
CR: So why MBA now?
Me: My standard answer. Lots of gyan. Included statements were I showed my interest in finance and desire to learn more on the subject.
CR: So given a chance, which specialization would u choose at IIM?
Me:Finance sir. I wouldnt do it from any other field.
CR: Why Finance?
Me: I am inclined towards finance sir. That is my interest
CR: How and When did u realise that you are interested in finance?
Me: Sir, since high school, I'd always get interested by things such as the annual reports of companies that my father would get. I'd read those balance sheets and try to make sense of them. Terms such as PBT, PAT, turnover were quite known to me , long before my friends had ever even heard of them. Then when I came to BHEL, I got interested in the finances of my company, and studied the same information about my company. Anyways, I was good at mathematics , and found it easier to do these kind of accounting. When I couldnt find many avenues to satiate my hunger for more knowledge in the field, i'd resort to NCFM courses and financial newspapers and tried to know as much as I could.
CR: So u say u have interest in finance. Tell me, how do u (me in particular) decide which company to invest in , in case of stockmarkets?
Me: Sir, I'd look to invest in those companies which are undervalued in the market. Where people out of their fear or some negetive sentiment, have undervalued, a potentially strong company, and which will eventually come up once the picture becomes more clear to people. For eg due to recession and more recently due to bank rate hikes, people have developed a negetive sentiment about the banking industry. Scripts of biggies like ICICI bank and HDFC bank have crashed from highs of 1200-1600 range to as low as 300-400. But these are solid banks and have sound finances. They wont go down so easily. AS u can see, their scripts have already come up a lot. And as things become clearer, they'll rise further, bringing them closer to their actual value.
CR:How do u decide which companies are undervalued?
Me:I try and look at the balance sheets of the company from its annual reports. Find out company's order books position in case if its a manufacturing company. Look at the governnment policies for the sector and analyse from experts' views as to how well the company is placed to capitalise on or shield itself from them, as the case may be. Read news reports on the company and try to see where the company policies are headed. Overall from all these, if i analyse that the company has a sound future ahead, and still find that people have not realised this yet, and due to some negetive sentiment, the company is undervalued, i'd invest in it.
CR: So Abhishek, suppose after you passout of IIMK and suppose some loss making company, which hasnt done well for the past 20 years, whose balance sheet has never been good, and wherein the newspapers have always reported negetively about it, offers you a high amount of salary and recruits you. And now it tells you that they have a sound strategy ahead, a good team with good people like u and that they've decided to work hard in future, and asks you to sell its shares in the market, how would you go about doing it?
Me: Sir, I'd explain, how we have a sound strategy, explain what we plan to do hence forth in future, and how it shall open vast opportunities for us. And that we'd have a bright future ahead , so kindly invest in us.
CR: Hmm, so just because the company pays you high to do so, u'd go ahead and sell its shares, whether u believe its worth investing in the company or not?
Me: Sir, I assumed the fact that the company would have already explained its future strategy to me, and once I myself would have started to believe in it, i'd sell it. It wont be very difficult to ask people to believe in something you already do.
CR: What if you yourself were asked to invest say 30 lakh rupees of yours to invest in that company, would you do so?
Me: Ofcourse sir. If I am convinced of the company's strategy , and believe in its sound future, I'd surely invest in it. In fact, I have invested in companies like that. I've invested a considerable amount of my money in Suzlon Energy. Now this company is not perceived to be in strong financial condition. This is purely because the company is in heavy debt which it took for overseas aquisitions. Newspapers have been reporting negetively on its health. Its share script has fallen from a high of 140-150 and now trading in 40s. But I believe wind power has a very strong future. It'll be the one of the major driving forces of power production in future and as a company which has already visualised this and has invested heavily in manufacturing facilities will obviously have a first mover's advantage in this and do well to emerge as victorious.
MB: So , u believe wind power has a future eh?
Me: It has a very bright future ahead sir. And as the fossil fuels start to get depleted, it could no longer be avoided also
MB: And what do u have to say about solar power?
Me: Sir, solar power is also a very useful source of power. But then, setting up a solar power plant is very costly. The equipment and setup is not cheap. And the resultant electricity is therefore costly, around 10-12 Rs per unit. In current times I dont think solar power can survive without govt subsidy and power purchase agreements. A few states , including my home state gujarat , is going about doing this, and hence investment is coming into solar power too. But I feel, it'll take some more time and lot of R&D into solar power, whereby we may be able to setup a solar power plant at a cheaper cost. Untill that happens, solar power will have to wait to come on board in a big way. (MB getting more and more impressed with every passing statement. Later on I find that renewable energy, austrian economics, etc were his research interests and I had by mistake ventured into his forte)
MB: But do u know that wind power is intermittent and there are usually no transmission lines close to the windmills. The grid companies also have complains, that if they allow wind power to be put on grid intermittently, it damages their equipments.
Me: Sir whether they like it or not, they cannot avoid wind power. Earlier there was a time when the cost of power produced in thermal power plants through coal would come out at 1.5 Rs per unit and at that time people would even frown at using wind power coming at a cost of 4-5 Rs per unit. But things and times are changing. Fossil fuel reserves are getting depleted by the day. The new UMPPs are being planned in coastal areas and govt has clearly directed them to use imported coal for their use. The coal that comes from these places such as indonesia is not as cheap as the indian coal is, and hence the cost of thermal power is increasing. Moreover with the world getting more aware about pollution and green house effect, and the idea of carbon credits coming, you even have to pay (i.e. buy carbon credits) if u pollute. Hence the cost of thermal power is no longer affordable, and with its cost rising, suddenly we find wind power more affordable. I believe, in future, we can no longer ignore wind, tidal and hydel power. And once solar power technology is worked upon to make it cheaper, it'll be coming in a big way too. (Again I get one "good " from him)
MB: Ok, given a choice, suppose you have a choice of using a 1 MW turbine or a 1.5 MW turbine for a wind mill, which one would you go for?
Me: Sir, for that I'd first have to do a proper analysis of the area, the wind velocity and other parameters of the particular area and calculate for what capacity of the turbine, will the windmill work at maximum efficiency. I dont know how they do in windmills, but I'll tell u, in case of thermal power sets, we have something nowadays, called as supercritical technology. It is the ideal capacity of the turbine-generator-set at which the fuel would be used at maximum efficiency. What if i put up a 1.5 MW turbine set and the wind velocity is not strong enough to move it , it wont help. If a 1 MW turbine is more suitable, i'd rather have two windmills of 1MW set up rather than one of 1.5 MW( MB was very very happy now and was jumping with joy. Offerred me a biscuit from the tray in front of him. took and thanked him)
MB: Can u tell me now who is the minister for new and renewable energy ?
Me: (with a smile) No sir. I had read it before. But dont remember it anymore
MB: (smiling) Farukh Abdullah?
Me: Hmm. Now I know its him. Couldnt recall
MB: (reading my profile) So what is this NITK?
Me: National Institute of Technology Karnataka, Surathkal
MB: ok. so u have also studied polymer science , hmm?
Me: Sir actually because its metallurgical and materials science, for the sake of material science, we have one subject on polymers and one subject on ceramics. According to us metallurgists, all materials can be classified into metals, ceramics and polymers. Hence namesake we have one subject on polymers and ceramics. Not very deep study. Just superficial.
MB: So u are a metallurgical engineer, eh? U know, I am a chemical engineer ( I nodded and exchanged smiles. Finally the secret engineer-engineer brotherhood was coming alive. CR didnt like this and he took the discussion to an uncomfortable area)
CR: Anyways, tell me what is the basic difference between a life insurance and a general insurance.
Me: Sir in case of life insurance the Premium amount goes on increasing as the person gets older, while in case of a general insurance, say for ex a vehicle, the premium amount goes on decreasing as the vehicle gets older.
CR: No. I dont understand this. Why should it be so. In both cases the things get old right?
Me: Actually sir the premium amount depends on the amount of risk the insurance company takes to insure the item or person. In case of life insurance , and older person stands greater risk of death or disease, and hence there is a greater probability that the company will have to pay up if it insures his life, as compared to a younger person. In case of a vehicle there is always a depreciation in its value. A new motorbike would cost 50000 Rs, but a 5 yr old may cost 10000 Rs. So, if a new bike gets stolen, the company stands to lose 50000 rs but for a 5 yr old bike the company would have to pay up only 10000. So less the risk, lesser the premium.
Now CR still doesnt understand this. Comes up with some weird explanations where he says he'll buy a bike and burn it down and claim insurance. Dont know what all he was trying to say. I said you cant burn down ur bike and claim insurance. its always an accidental insurance. He said he'll claim the fire was an accident. Full crap. I tried one more fruitless effort at explaining the same logic to him what i told before and CR would still not understand. MB is smiling. Finally he decides to save me and change the topic
MB: So Abhishek, other than finance, what other subject do u like?
Me: U mean sir, which other core metallurgical subject?
MB: No no. I mean, other than finance and metallurgy, which other field would you like to take up for your career?
Me: Hmmm...(Thinking hard not to venture into any field where I could be grilled) Sir, Actually I am interested in finance, economics, accounting these subjects only.
MB: Economics? Ok, have u heard about Austrian economics? ( I said no) xyz economics? (Again NO) abc economics? (No. It was only now that I realised how many different types of economics existed). pqr economics ?( This time he was really eager to hear a yes)
Me: Sir, actually I've only read about these terms when i go through the eco times. But I dont know much about them in details.
CR: But you said you are interested in finance and economics! And u dont know about all these terms?
Me: Sir, I said I am only interested in finance. If I had already known all these terms, I wouldnt really need to do an MBA then, would I? I want to learn about economics and finance and know about all these terms, which is why I want to do an MBA.
CR: Yes yes. One only needs to be interested in learning about finance. He is not expected to know it all (GRRRR...well if u knew that, why ask dumb questions? Every PI , I have to have a member on the panel who'll grill me. Luckily I had MB who had developed a liking for me and would always emerge a saviour when I'd get trapped)
MB: Forget all that. (Ofcourse. Where were u all the while when I wanted you to interrupt CR. Even I want to forget all that) What are your views about Tulsi Tanti?
Me: Sir, Tulsi Tanti, the owner of Suzlon Energy (Ya right. He is still obcessed with suzlon and wind energy. Good for me though) is a great entrepreneur. According to me, he has everything that it takes to be a great entrepreneur. He came up with a great idea to set up a wind power equipment company in india, when no one else thought of it. He had the vision to forsee an upcoming upportunity. He has invested big in manufacturing capacities already and has the first mover advantage also. If only he doesnt lose out on the technology front in future to his competitors, because a lot of other companies are also moving in to the same sector once they've started to see the potential, he'll always emerge out victorious and more successful. He'll surely overcome his debt and other liabilities and going to make it big in future. I firmly believe in him (MB again happy now)
MB: Can u name any competitor of Suzlon?
Me: Vestas is one of the competitors.(I get one more good from him)
MB: So you interested in taking up entrepreneurship?( Later on I realise, entrepreneurship is one more of his research interest besides austrian economics and renewable energy)
Me: I would be interested sir, provided I have a great idea. Right now I have nothing fresh in my mind, something that has great potential and unthought of by anyone till date. But , if and when in future I do come up with something, I'd surely like to take up entrepreneurship. Actually I do have one friend of mine in Maruti, who is a mechanical engineer and my 1st yr room mate. And we do share this thought on so many occasions where we tell each other that someday, if we come up with a great idea, we'll do something for sure, once we are all done with our loans and other responsibilities. I am a metallurgist and he a mechanical engineer with an automobile background, who knows, we may set up a foundry to make auto components, u know. But then these are not very fresh ideas and already big players are there in the field doing the same job , and I dont have enough ancestral money to risk on projects without having proper thinking done on them.
MB: Do u know what is present value?
Me: Present value of what sir? A company?
MB: Present value of a Project.
Me: Sir, I know only one present value. A term which financial companies use to describe the amount one should invest today to get a fixed amount after a fixed tenure.
MB: OK. Do u know how to calculate that?
Me: yes sir. It only involves a reverse calculation wherein you already know the amount and ,rate of interest and tenure, and you calculate the principal using the compound interest formula.
MB: Means , u can calculate it right?
Me: Nodding, yes sir.
MB: Tell me something else abhishek. Something else going on around the world today, that has interested you.
Me: Sir, actually a lot of things have been happening around. But amongst all (Again dragging him to an area I am a fan of..... Politics) I was most interested in the recent protests against and the fall of Arab World dictatorships. For a long time now, I used to believe......actually I didnt believe, but what was in my mind due to the constant projection by the media, that the arab world is incompatible with democracy. Most importantly this was a rhetoric maintained by america in world media, and we all were led to believe that. But , now after all these years, this myth in my mind was shattered totally. I see not one or two, but the entire league of arab nations , one after another , taking to the streets , and protesting against their dictatorial regimes. It is very clear now that they too werent happy under those dictatorships and want democracy. I wonder what took them so long to do this. Anyways, better late than never.
MB: Any offbeat politician that u admire a lot?
Me: Offbeat means sir?
MB: Offbeat means, any non main stream politician or some state chief minister....
Me: Well ofcourse, I do appreciate a lot of state chief ministers.
MB: who all?
Me: Amongst the many politicians sir, I appreciate Mayawati, Bihar chief minister NItish kumar ......and ofcourse my homestate chief minister Narendra Modi a lot sir.
MB: Why Mayawati?
Me: Well, actually sir until a few years back, as a boy who had grown up in gujarat, I had this habit where i'd look at the chief ministers of other states, and those of them who I didnt find as performing & upto the mark, I'd comment as to why would the people of that state elect such and such person as the chief minister. Not just me, a lot of people, get judgemental about the electoral verdit people in other states give, with regards to their constituencies and feel as to how can they could elect such and such person to power. Being in Gujarat, or maharashtra or karnataka, we all would feel that way about the people of UP who'd elect Mayawati and likes to power and question their rationality. But after I came to UP (Haridwar i consider culturally UP) and I saw the situation on ground, I was astonished. Casteism in the entire gangetic plains of UP and BIhar is so severe, sir, I've never experienced anything like that back home in Gujarat or Karnataka where I've studied. I've known people here refer to each other as Panditji, Thakurji or Lalaji instead of their names. (He was surprised at this). And this is not a trend just among the illiterates and the uneducated, even the executives in my company follow this norm. And its not considered offensive nor frowned upon, rather people like being referred this way. Even at work, I'd have upper class workers approach me and ask me not to ensure a level playing field or support the lower caste fellow workers there openly. And I have a tough time asking them to keep me out of it all. I have to explain them that for me at work, a man is either a crane operator, a welder or an electrician as the case may be and that is all I know of him. If they have any differences, they may kindly take them out of factory gates. When inside the factory gates, I as a senior in the shop cannot and will not differentiate between any worker based on his caste of birth. It is not only against my ethics but also against Raj Dharma, preached to a ruler in olden days wherein it was given that all his subjects should be treated equal.
Me: U mean sir, which other core metallurgical subject?
MB: No no. I mean, other than finance and metallurgy, which other field would you like to take up for your career?
Me: Hmmm...(Thinking hard not to venture into any field where I could be grilled) Sir, Actually I am interested in finance, economics, accounting these subjects only.
MB: Economics? Ok, have u heard about Austrian economics? ( I said no) xyz economics? (Again NO) abc economics? (No. It was only now that I realised how many different types of economics existed). pqr economics ?( This time he was really eager to hear a yes)
Me: Sir, actually I've only read about these terms when i go through the eco times. But I dont know much about them in details.
CR: But you said you are interested in finance and economics! And u dont know about all these terms?
Me: Sir, I said I am only interested in finance. If I had already known all these terms, I wouldnt really need to do an MBA then, would I? I want to learn about economics and finance and know about all these terms, which is why I want to do an MBA.
CR: Yes yes. One only needs to be interested in learning about finance. He is not expected to know it all (GRRRR...well if u knew that, why ask dumb questions? Every PI , I have to have a member on the panel who'll grill me. Luckily I had MB who had developed a liking for me and would always emerge a saviour when I'd get trapped)
MB: Forget all that. (Ofcourse. Where were u all the while when I wanted you to interrupt CR. Even I want to forget all that) What are your views about Tulsi Tanti?
Me: Sir, Tulsi Tanti, the owner of Suzlon Energy (Ya right. He is still obcessed with suzlon and wind energy. Good for me though) is a great entrepreneur. According to me, he has everything that it takes to be a great entrepreneur. He came up with a great idea to set up a wind power equipment company in india, when no one else thought of it. He had the vision to forsee an upcoming upportunity. He has invested big in manufacturing capacities already and has the first mover advantage also. If only he doesnt lose out on the technology front in future to his competitors, because a lot of other companies are also moving in to the same sector once they've started to see the potential, he'll always emerge out victorious and more successful. He'll surely overcome his debt and other liabilities and going to make it big in future. I firmly believe in him (MB again happy now)
MB: Can u name any competitor of Suzlon?
Me: Vestas is one of the competitors.(I get one more good from him)
MB: So you interested in taking up entrepreneurship?( Later on I realise, entrepreneurship is one more of his research interest besides austrian economics and renewable energy)
Me: I would be interested sir, provided I have a great idea. Right now I have nothing fresh in my mind, something that has great potential and unthought of by anyone till date. But , if and when in future I do come up with something, I'd surely like to take up entrepreneurship. Actually I do have one friend of mine in Maruti, who is a mechanical engineer and my 1st yr room mate. And we do share this thought on so many occasions where we tell each other that someday, if we come up with a great idea, we'll do something for sure, once we are all done with our loans and other responsibilities. I am a metallurgist and he a mechanical engineer with an automobile background, who knows, we may set up a foundry to make auto components, u know. But then these are not very fresh ideas and already big players are there in the field doing the same job , and I dont have enough ancestral money to risk on projects without having proper thinking done on them.
MB: Do u know what is present value?
Me: Present value of what sir? A company?
MB: Present value of a Project.
Me: Sir, I know only one present value. A term which financial companies use to describe the amount one should invest today to get a fixed amount after a fixed tenure.
MB: OK. Do u know how to calculate that?
Me: yes sir. It only involves a reverse calculation wherein you already know the amount and ,rate of interest and tenure, and you calculate the principal using the compound interest formula.
MB: Means , u can calculate it right?
Me: Nodding, yes sir.
MB: Tell me something else abhishek. Something else going on around the world today, that has interested you.
Me: Sir, actually a lot of things have been happening around. But amongst all (Again dragging him to an area I am a fan of..... Politics) I was most interested in the recent protests against and the fall of Arab World dictatorships. For a long time now, I used to believe......actually I didnt believe, but what was in my mind due to the constant projection by the media, that the arab world is incompatible with democracy. Most importantly this was a rhetoric maintained by america in world media, and we all were led to believe that. But , now after all these years, this myth in my mind was shattered totally. I see not one or two, but the entire league of arab nations , one after another , taking to the streets , and protesting against their dictatorial regimes. It is very clear now that they too werent happy under those dictatorships and want democracy. I wonder what took them so long to do this. Anyways, better late than never.
MB: Any offbeat politician that u admire a lot?
Me: Offbeat means sir?
MB: Offbeat means, any non main stream politician or some state chief minister....
Me: Well ofcourse, I do appreciate a lot of state chief ministers.
MB: who all?
Me: Amongst the many politicians sir, I appreciate Mayawati, Bihar chief minister NItish kumar ......and ofcourse my homestate chief minister Narendra Modi a lot sir.
MB: Why Mayawati?
Me: Well, actually sir until a few years back, as a boy who had grown up in gujarat, I had this habit where i'd look at the chief ministers of other states, and those of them who I didnt find as performing & upto the mark, I'd comment as to why would the people of that state elect such and such person as the chief minister. Not just me, a lot of people, get judgemental about the electoral verdit people in other states give, with regards to their constituencies and feel as to how can they could elect such and such person to power. Being in Gujarat, or maharashtra or karnataka, we all would feel that way about the people of UP who'd elect Mayawati and likes to power and question their rationality. But after I came to UP (Haridwar i consider culturally UP) and I saw the situation on ground, I was astonished. Casteism in the entire gangetic plains of UP and BIhar is so severe, sir, I've never experienced anything like that back home in Gujarat or Karnataka where I've studied. I've known people here refer to each other as Panditji, Thakurji or Lalaji instead of their names. (He was surprised at this). And this is not a trend just among the illiterates and the uneducated, even the executives in my company follow this norm. And its not considered offensive nor frowned upon, rather people like being referred this way. Even at work, I'd have upper class workers approach me and ask me not to ensure a level playing field or support the lower caste fellow workers there openly. And I have a tough time asking them to keep me out of it all. I have to explain them that for me at work, a man is either a crane operator, a welder or an electrician as the case may be and that is all I know of him. If they have any differences, they may kindly take them out of factory gates. When inside the factory gates, I as a senior in the shop cannot and will not differentiate between any worker based on his caste of birth. It is not only against my ethics but also against Raj Dharma, preached to a ruler in olden days wherein it was given that all his subjects should be treated equal.
But then, this was something that was going to stay, and when situation in urban areas was so severe, I could only imagine how the conditions must be in the country side. In this situation, Mayawati has brought the much needed self respect back to these people. She has given them a hope, that yes , there is somebody out there in the government who thinks of you. This nation has not rejected your lot, and left you to rot in the darkness of poverty, illiteracy and discrimination. Rather you are very much a part of this nation and stakeholders in its democracy. All that was needed that these people be given a faith that yes, they can compete with the upper castes and the more fortunate for the nation's resources and opportunities and they can also do well, and then they'll start doing it on their own. For that matter I appreciate Lalu Prasad Yadav of bihar a lot too sir. Before he came to bihar, the situation was so severe in bihar that a lower caste person couldnt imagine standing amongst higher caste people without fear. And this i've got from one of my friend who is from Bihar. But 15 years of his rule in bihar has done wonders to their self confidence. True, he may not have a wonderful track record as far as development and corruption is concerned. But may be the man on the street probably didnt want development as much as he wanted self respect. And he gave him that in Bihar, as what Mayawati gave in UP. If I were given a chance to change Bihar's past and say change those 15 years of Lalu's rule with a leader of my choice, I'd again want Lalu only to have ruled in those 15 years there. And which is when I came to the conclusion sir, that in a democracy the people are never wrong. They know it best what they want, and we as spectators from other states, have no right to interfere in their internal business or comment on that. (MB was getting so emotional and so was I. We both could have cried and hugged each other at that moment. All the while, CR was an uninterested listener)
MB: And now what do u feel about Nitish Kumar?
Me: Sir, once the people of bihar got the much needed selfrespect to begin with, now they wanted development, jobs and other good things. And which is when they've now got the right man for the job at helm. NItish kumar is working real hard to lift the lot of bihar out of poverty and depreviation. The crime rate is lowered , law and order situation is improving, he is cracking down on corruption, highways are coming up. Things are really looking up in bihar today. 5 years back, it was unimaginable to think of flyovers in bihar, and today u have several flyovers coming up in patna.
MB: And how do u compare his ways to Narendra Modi?
Me: Sir, Nitish Kumar is more inclusive in his ways. While Narendra Modi is more autocratic in style. But then both have honest intentions, and both are hardworking, both are bringing development. Styles may be different, but it doesnt really matter as long as they get results.
MB: (happy and thoughtful) U really love politics , dont u?
Me: (With a hesitant smile) I do sir
MB: Would you like to join it?
Me: I would sir. But I know I cant. Its very difficult to join politics in india. And anyways, running a nation is like running a company. You need management skills at both places. Our chief minister runs our state like a CEO of a company.
MB: Is it really same as running a company?
Me: Well not exactly same sir. In running a state one needs to look at a lot of social responsibilities also. Like my home state gujarat, lags severely on health and education indices. And as an able chief minister , Modi is working really hard on them. Sometimes I wonder when he has been such an efficient administrator , why then is he having difficulties in improving health and education indices. But then sir, a lot of our problems and success are deep rooted in our cultures also. No one understands money better in india than Gujaratis and they'd anyways have got a lot of money flowing in the state. Modi may be only gave that same flow a little bit of push. When it comes to education, things are a bit difficult. I still remember an industrialist friend of mine tell me about what his grandfather,who had set up the factory that is their family business now, told him. He told him that education only makes one a good employee. We need to become good employers. (MB smiles) So u see sir, mentalities and mindsets are very difficult to change. In gujarat, once u get a job, or start a small time tea shop also, students drop out of schools in villages. It is very difficult to convince people to stop earning and keep learning. But then, Modi is a very hard working man sir. He has been working on it, and I have full faith in him. I am sure he'll do it.
MB: (Totally satisfied with me by now) So Abhishek, why IIM Kozhikode?
Me: (showing full surprise at the question) Why IIM Kozhikode!!! Its IIM sir! Kozhikode, Lucknow, Indore.... does it really matter? U are a faculty at IIM sir and I really dont know how it feels to sit on that side of the table and ask questions, but for us students on this side sir, IIM is God LIke. It matters a lot sir.
MB: (Totally elated. Needs no more explanation): Any questions u'd like to ask us ?
Me: I was so happy I just wanted to come out and rush back to my friends. I kept smiling and shook my head. We thanked each other and I finally left.
Verdict: Converted
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