"Meckdonaalds" and "Pissa Huts"

An article in Out look India on how McDonalds and Pizza Hut customized its product to win the Indian market !!

Some snippets

• This year, McDonald's and Pizza Hut celebrate 10 years of their presence in India.In the last 10 years, the McDonald's chain in India has grown to 91 restaurants primarily in the north and west , while Pizza Hut operates 125 outlets in 32 cities across the country.These brands have not only acquired a strong Indian flavour, but also enabled consumers in urban and semi-urban India to demand that their local restaurant chains drastically improve hygiene and service standards.
• In India, most of McDonald products are grilled or baked.
• In India, McDonald's also does something it loathes doing in the West: home delivery
• Elsewhere, Mc Donalds and Pizza Hut are a brand offering convenience. But in India they are 're an aspirational brand where 'climbers' or those aspiring to move up the social ladder would want to go.
• The McDonald's supply chain is a global gold standard. In India, the company has developed more than 50 vendors from whom it sources all its ingredients (only the frozen potatoes are imported from Holland because Indian potatoes are high in sugar content; and the palm oil comes from Malaysia).
• Nearly 70 per cent of the items on the menu in India at McDonalds don't exist elsewhere in the world. It would be impossible to find a Chicken Tikka Burger or a Paneer Salsa Wrap at any McDonald's outside India. On the other hand, the company's global bestseller, the Big Mac Burger, is excluded from the Indian menu because it is made of beef. In fact, India was the first market in the world where McDonald's kept away from beef and pork, for obvious cultural reasons.
• For Indians, McDonald's doesn't carry any cultural baggage, and in many ways it is perceived as a happy place, a good side of American consumerism."India is an extremely value-consious and non-homogeneous market," says Arvind Mediratta, chief marketing officer (Indian subcontinent), Yum! Restaurants. "If our consumers want Indian flavours, we have to give it to them. After all, we're not selling assembly-line produced cars, but selling food." So, Pizza Hut has a new 'Indian' menu which includes kebab lollies on breadsticks, pindi chana pizzas and pista kulfi.

Read more here about how McDonald's and Pizza Hut have won Indian hearts

I am lovin it !

The classes for stage 2 start tomorrow. We have the Career Advantage Program for a few days.

As I sit back and blog , I realize that there were a few subjects in Stage 1 that I simply loved reading. Microeconomics, Business Strategy, HR & OB and Macroeconomics were the most interesting subject. These subjects expanded my thinking.!

The greatest benefit of reading Macroeconomics was that I seem to understand the newspaper much better when I read it now.Also, I have a good understanding of economies worldwide.I can now expalin why the Japanese interest rates should be hiked from zero interest rate,what Zimbabwe should be doing to curb the 1000% inflation rate, if China will land up with issues for having a fixed exchange rate policy, why Bernake is hiking the interest rates in US for the 17th time and if Canadian economy will benefit by hosting the 2010 Vancouver Winter Olympics.

I liked HR & OB for the simple reason that it brought in a new angle to my thinking process.Trasnformational leader is what I intend to be when I enter the corporate world.!

Microeconomics was clearly the favorite subject for me in stage 1. Before joining this program, I hardly knew anything about it. But I have developed a keen interest in the concepts taught in this class.I enjoyed every Microeconomics class.

The Microecon subject was so interesting (especially the lecture notes) that I read all the newspaper articles, did the pre reading before the classes for that subject - something that I am really happy about. I even participated in every case discussion and
brought my views on the subject. I also happen to win some class prizes for participation ( a Wine bottle, a baby food !)

The professor at Queen's MBA program challenge the student's intellectual thinking by constant questioning, analysis and thus creating the right mindset in us . Thus, we would become sound business leaders in the future who can handle any situation.

I remember what the Microeconomics professor said " A manager is a person who makes decisions that direct resources and the behavior of individuals for the purpose of achieving a stated goal. Economics is the science of making decisions in the presence of scarce resources. Resources are simply anything used to produce a good or service, or, more generally, to achieve a goal. Decisions are important because scarcity implies that by making one choice, you give up another."

I learnt a great deal in Microeconomics . I learnt what competition means. A small example: McDonald’s in Princess Street in Kingston, Canada and the Burger King in Les Rambles in Barcelona, Spain? Are they competitors? Clearly not. Therefore, to the notion that products be substitutes, we need to add another dimension: that they are sold in the same geographic market.

As I enter the corporate world again after a year, I am pretty much sure that I will not be expected to prove my strategic decision mathematically, but yes game theory does has given me an essential tool that will help me understand opportunities that competitors may not. I learnt about Prisoner's Dillema,Game of Chicken, Bertrand Oligopoly, Cournot Oligopoly, Hotelling Beach.

I understood what vertical intergration meant, what horizontal integration is. What could organizations do to get economies of Scale, economies of scope and economies of learning !

I had fun reading about the NPV value of our MBA program, analyzing the Opportunity Cost and sunk costs associated to taking decisions. I understood the concept of economic profits and the cost of equity Capital.

As I sum up this post on my favorite subject in Stage 1, here are a few articles that we had for class discussion in Microeconomics. Read it...and am sure you'll enjoy it !

Laurel without Hardy? A Lesson for Business

The beauty business:Pots of promise

Walmart-How big can it grow

Google - Fuzze Maths

The internet is eroding privacy:They're watching you

Is Google the new Microsoft

How Islamic inventors changed the world

Thinking Big:Banks the world over are scrambling to become larger

Internet Advertising- The ultimate marketing machine

One of the best examples from the Prof that I liked was on Product Line Extension

Take Starbucks for example, any Starbucks.
The price list looks something like this:
Hot Chocolate $2.20
Capuccino $2.55
Caffe Mocha $2.75
White Chocolate Mocha $3.20
20oz Capuccino $3.40

or, translating:

Hot Chocolate - no frills $2.20
Capuccino - no frills $2.55
Mix them together - I feel special $2.75
Using different Powder - I feel very special $3.20
Make it huge - I feel greedy $3.40

Starbucks isn’t merely seeking to offer a variety of alternatives to customers.
It’s also trying to give the customer every opportunity to signal that they’ve not
been looking at the price (i.e., they are not price sensitive). It doesn’t cost much
more to make a larger cup, to use flavored syrup, or to add chocolate powder or a
squirt of whipped cream. Every single product on the menu above costs Starbucks
almost the same to produce, down to the odd nickel or two. By charging wildly
different prices for products that have largely the same cost, Starbucks is able to
smoke out customers who are less sensitive about price. Starbucks doesn’t have a
way to identify lavish customers perfectly, so it invites them to hang themselves with
a choice of luxurious ropes.

Golden Words
Some golden words from the Professors in stage 1 of the program:

Microeconomics
Dr Marc Siscart :

'While it is important to know what works for other businesses, it is more important to know WHY it works forthem. If you don’t know why it works for them, you don’t know whether it will work for you, given the differences in industry and market conditions, time period.."

Individuals who want to maximize profits often are considered self interested,a quality that many people view as undesirable. However, consider AdamSmith’s classic line from the Wealth of Nations: "It is not out of the benevolenceof the butcher, the brewer, or the baker, that we expect our dinner, but from theirregard to their own interest." Smith is saying that by pursuing its self-interest - the goal of maximizing profits - a firm ultimately meets the needs of society. If you cannot make a living as a rock singer, it is probably because society does not appreciate your singing; society would more highly reward your talents in some other employment..

Business Statistics
Prof. Ian Glew:

"Three key aspects for doing well in an exam- Competence, Confidence and Coverage ( of material) .Work on each of them and you will do well. "

Organizational Behavior and Human Resources
Dr Jana Raver:

"Employees will not hold a manager responsible for what an organization could not do. The employees will hold the manager accountable for what he could have done but chose not to do.!"

Performance = Ability + Motivation

Business Strategy:
The course expanded my thinking....We discussed cases that made me think about various aspects of strategy. We have this course running into 3 stages...Something that I will truly enjoy.

Stage 1
1: Importance of Strategy: Honda Case Study
2.Organization Mission, Culture and Strategy: Johnson and Johnson Case Study
3.The General Manager and Strategy: Paul Levy Case Study
4. Industry Analysis: Rober Mondavi (Wine) case study, Crown and Cork Case Study
5. Competitor Analysis: Cola Wars Case Study

To be done in Stage 2:
6.Competitive Advantage:Wal-Mart Case Study
7.Cost Based Strategies:Dell Case Study
8.Differentiation Based Strategies:Intel Case Study
9.Vertical Integration:Sensormatic Electronics
10.Case StudyDiversification and Corporate Strategy:Newell Case Study

Macroeconomics:
Dr Peter Sephton:
"At the end of the course,you will be able to speak intelligently on various macroeconomic issues.You will be able to know how the aggregate economy behaves, and see how government policies can or cannot be used to acheive the objectives set by policymakers. These objectives change over time as our understanding of the economy evolves, and as political and social norms adjust to our changing society."

Financial Accounting:
The professor Prof John Moore makes the subject look so simple. Only thing I needed to do is work on more home work questions.Prof Joh Moore is one of the best professors at Queen's MBA program and his knowledge of Financial accounting is an asset to the Queen's MBA students.

Management Accounting
Dr Clinton Free:

-In The Aims of Education and Other Essays, Alfred North Whitehead said:
"Whatever be the detail with which you cram your students, the chance of their meeting in after-life exactly that detail is almost infinitesimal; and if they do meet it, they will probably have forgotten what you taught them about it.
The really useful training yields a comprehension of a few general principles with a thorough grounding in the way they apply to a variety of concrete details. In subsequent practice the students will have forgotten your particular details; but they will remember by an unconscious common sense how to apply principles to immediate circumstances."

-The course focuses on the use of accounting concepts and analytical techniques to provide information for managerial decision-making in organizations.
The main topics in the course are the nature and behaviour of costs, types and uses of costing systems, budgeting, management control systems, measuring and rewarding performance, pricing and organizational learning. This course is thus highly relevant to all of
you who aspire to careers in management or management consulting – whether or not you intend to pursue accounting or related financial management roles.
The organizing theme in the course is relevancy: to provide managers with the information and tools they can use to make better decisions and to control their organizations. "

World's Top 25 Consultants

The Top 25 Consultants (in Alphabetical Order) published by a US-based Consulting Magazine :

• N. Chandrasekaran, TATA Consultancy Services
• Lee Dittmar, Deloitte Consulting
• Arkadiy Dobkin, EPAM
• David Fine, McKinsey & Company
• Chris Formant, BearingPoint
• Julie Howard, Navigant Consulting
• Ravin Jesuthasan, Towers Perrin
• Tonie Leatherberry, Deloitte Consulting
• Michael Mankins, Marakon Associates
• Ron Nicol, Boston Consulting Group
• Jay Norman, DiamondCluster
• J. Michael Gibbons, Unisys Corp.
• Gary Neilson, Booz Allen Hamilton
• Phil Parr, Hitachi Consulting
• William Pulleyblank, IBM Corp.
• Don Rippert, Accenture
• Mary Sue Rogers, IBM Corp.
• Paul Sailor, Buck Consultants
• David Speltz, Huron Consulting
• Ashish Singh, Bain & Company
• Richard Spitzer, Accenture
• Kaz Uchida, Boston Consulting Group
• Bridget Van Kralingen, IBM Corp.
• Atul Vashistha, NeoIT
• Peter Walsh, Mercer Management Consulting

As per this article , it is nice to see two Indian business consultants gain recognition in the global arena.

N Chandrasekaran (picture on the left) started his career in TCS 19 years ago and after advancing in the management ranks spearheaded a major Tata quality initiative, the results of which formed the basis for expansion of its development centers around the world. Chandrasekaran is involved in the creation of new business models considered vital for Tata's future

Ashish Singh is the managing director of Bain & Company .Bain made a passage to India in early ’06. Ashish Singh, co-founded three of Bain and Company's business practice units - Software, Media and Entertainment and Pharmaceuticals.

The wonder of Niagara

It is known for its beauty.
It is known for it's valuable source of hydroelectric power.
It is a challenging project for environmental preservation.
It is a natural wonder that is shared between two countries.

I got a chance to see it from the country that claims to have the "best view!"
The Niagara Waterfalls is something one has to see, and hear, to truly believe it.

As I watched the fall, I wondered how tiny mankind is compared to the nature.
An amazing experience of the Niagara falls, some pictures from the camera:

















( This one is in Toronto...Doesn't it remind you of the Old Spice Symbol?)


( Burger King outlet at Niagara - Frankenstein eating a burger !)

Why HR = higher revenues
A study finds that having the right management style can yield big growth.
Check out the article on Forbes here.
Also, do take the Quiz: What type of manager are you?

Join the Team

Businesses that hired employees who meshed well with their organizations performed better than those that hired to fit specific jobs

We Are Family

High salaries may get employees in the door, but providing a supportive, family-like work environment makes for a more productive office


Watch Yourself

Maybe your employees really do know what they're doing; offices with controlling bosses underperformed those that allowed workers more autonomy, the Cornell University study found.

The amazing Dabbawalas !









Dabbawala, (Hindi: dabba - (Lunch) Box, wala - an appelation for One who carries) is a person in Mumbai (Bombay), India, whose job is carrying and
delivering freshly made food from home in lunch boxes to office workers.

Though the work sounds simple, it is actually a highly specialized trade that is over a century old and which has become integral to Mumbai's culture. The dabbawalas is a 113-year business run by a group of people with practically no formal education, no investment and no technology.

Management guru C.K. Prahlad had hailed Mumbai's ubiquitous dabbawalas as the quintessential masters of supply chain management.

The incidence of error with dabbawalas is 1 in 16 million transactions and this earned them a Six Sigma performance tag of 99.999999 per cent. But the irony is that the dabbawalas don't even understand terms such as Six Sigma quality or supply chain management.

In the past Prince Charles had rated the delivery service to be the cheapest in the world within the given time and the cost of such a service is approximately Rs. 10 per day for delivery and collection.

In an attempt to boost awareness about their service the Dabbawalas are going a little bit more high tech. They have set up a website and an SMS service to increase customer numbers. This has come as a surprise to many, as many of the lunchbox carriers are illiterate.

Check out the article here and the Dabbawala website

It is raining investments in Orissa ( India)

The monsoon might be eluding Orissa, but the state of Orissa is witnessing a different kind of showers — of investment promises.

With world players like Mittal Steel and Posco and Indian behemoths like Anil Dhirubhai Ambani Group and Tata Steel in its list of investors, Orissa, as of now, seems to be placed comfortably among other states in the race to woo investments.

Orissa is rich in history, rich in minerals, and attracts tourists from all over the world. Unlike many of its richer neighboring states, Orissa's electricity sector receives no subsidy from the government.

As a matter of fact, it generates surplus power and sells to its neighboring states. Orissa has 13 steel plants which are producing steel already and several MoUs have been signed for many more. In IT sector, Orissa is currently 9th in the country and it is on its way to becoming the 4th. The four Indian IT giants like Infosys, Satyam, Wipro and TCS have their presence in the captial city of Bhubaneswar.Bhubaneswar is the 5th fastest growing city in India (as per India Today survey) .Vedanta Resource Plc will set up a Vedanta University between Konarka and Puri.

The Airports Authority of India (AAI) announced plans to upgrade the Biju Patnaik Airport at Bhubaneswar to international standards by investing Rs 250 crore.

The women behind Infosys's success


(Kumari Shibulal, Rohini Nilekani and Sudha Murthy)

Read the article here
Also, do read the amazing story of Infosys

Canada's Top Performing Brands Valued by Interbrand
















The Best Canadian Brands 2006 report highlights and commends the 25companies that have managed to create and sustain strong brands in today'scompetitive market.
1 RBC Financial Group
2 TD Canada Trust
3 Petro-Canada
4 Bell
5 Shoppers Drug Mart
6 Tim Hortons
7. BMO Financial Group
8 Canadian Tire
9 Scotiabank
10 Telus
11 Molson
12 Husky
13 CIBC
14 Rona
15 Investors Group
16 National Bank of Canada
17 CI Investments
18 Rogers
19 Mackenzie Investments
20 Jean Coutu
21 Mac's / Couche-Tard
22 Labatt
23 Loblaws
24 Sobeys
25 Suncor

The article can be read here

New schools for the MBA exchange program !

Queen's MBA students this year will have two new international opportunities to consider as part of their MBAst degree. During Stage 4, students could spend 4 or 6 weeks in either India at the Indian School of Business or in Germany at the Mannheim School of Business.

Get...Set..Go...


Why haven’t I been blogging for the past few days?

Well, the first reason is that we had our Stage 1 exams...I was writing full fledged 3 hr exams after 6 years and trust me, it was not easy. There was lots to study...We hardly had time to eat .So I just couldn't blog.

The exams got over today and we get a week off before we start the stage 2 of the
MBA program. As I sit and type this post I realize that I have been in this program for about 3 months now.

lot of change has happened within me. I have started viewing things in different perspective; I analyze issues from various angles and of course have learnt a lot from interacting and meeting people from different backgrounds and nationalities.

I have learnt so much that I think I can just sit and blog about it for an entire day. : ) . But, as the exams got over, I think, I deserved a good break and need to party hard. So, am off to the Niagra falls tomorrow early morning. I will be in Toronto for the next few days. Will check out the city, dine at a few restaurants, meet my mentor ( A Queen's MBA alumni) get back to Kingston by Wednesday.

I want to share and write a lot of stuff about stage 1. I want to write about my experiences, the subjects, the professor, the MBA program…. Keep watching this space...
As of now, I just want to get away from my graduate residence!

Take care folks !

Last Point 4 of stage 1

Exams start on Monday.
There is a lot to read.
And today was the last Point 4 (the MBA student party every Thursday) for this stage which had a strong participation.We had invited the professors for the point 4.

Dr Marc Siscart (Professor for Microeconomics),one of the most popular Professors for this stage, drank several beers with the students .He takes a sabbatical for a year and heads to his home in Barcelona to manage his family run business. The MBA class of 2007 wishes him good luck.

Dr Jana Raver, the prof who taught us the HR& OB was also there. There were some great discussions on "why HR paractices often don't work in companies".

Here are some pictures:


( The class drinking for Marc Siscart - Wishing him good luck ! )



( The venue - The patio was reserved for the class)


( Dr Marc Siscart as always at his friendly best!! )


( Microeconomics class at the dining table ?)



( The adorable Ben Whitney, Assistant Director of the MBA program)



( Dr Jana Raver with the students)



( Dr Siscart with us)

The Global Manager



When I was heading to Queen's to do my MBA, a lot of folks asked me - "Why an international MBA."

Because I want to be a global manager.

I strongly believe that in the coming years, geography would hardly be a barrier for an organization. The mark of a leader would be to lead teams where his work force would be located in different parts of the world. He will have to be on the move, interact with a different set of people in different parts of the world and ensure that all of them work towards the desired goal of the organization.

Moving to a new place, understanding different culture, interacting with people from more than 15 nationalities in the class and attaining an international MBA at Queen's is a step towards achieving my goal of becoming a “Global Manager”.

Today was the last class in the HR & OB and we discussed about "Managing in a Global Environment”. Most of the folks in our class want to become "Global Managers”. So, it was great to get some good insights from the class.

The team assigned to facilitate the discussion did a good job. We took a short test to see if we understood different cultures. Folks from the countries discussed in the case study talked about how people would behave in Saudi Arabia, Japan, Turkey,Peru, Russia and France etc.

The professor,Dr Jana Raver, who has a great command on the subject, talked about Hofstede’s Dimensions of Cross-Cultural Variation'

We talked about how to adapt High performance work systems to Other Cultural Contexts.
For eg:
-How should trust and respect in others be demonstrated?
-Should rewards be based upon equity or equality? Do non-monetary rewards matter as much (or more) as $$?
-Are employees willing to put in extra effort to earn monetary rewards?
-What motivates people in different areas?,Do employees accept reduced status differentials?,
-Is employment security expected from the org?
-How should trust and respect in others be demonstrated?

This HR class will stay in my memory for quite a long time coz it gave me a good understanding of what I need to do to become what I want to be .

This class puts an end to the stage 1 of my MBA program- A stage where I was exposed to a new set of people, new country, new educational practices and new style of thinking.
We have a Point 4 tomorrow where the faculty has been invited.

Perhaps, once the exams are over, I'll re-read the Harvard Business artciles and the text books chapter on Global Managers to make sure that I haven't missed anything.

Exams start on Monday. More later. It is 03.30 am and I desperately need some sleep!!
I liked the class today, so had to blog about it.

Redesign your workplace

How many times have we felt that we knew what the problem was in our organization
How many times have we felt that given a chance we could fix a lot of things at our workplace
How many times have we felt that the work place could become an ideal one ?

Aha..Thatz what an assignment asks us to do.

The HR & OB assignment due this week have me and my classmates reflect back on our past and analyze our previous work place.

Our task is to first analyze the job and the organization exactly as it was when we worked there. Next, we imagine our self to be re-hired as a top-level manager in the same organization, and have an opportunity to redesign the job and the organization in which we worked. So, we need to redesign our work to simultaneously enhance the job holder’s engagement, health, and productivity. As part of the plan, we must describe how we will implement the changes (i.e., change management strategies) such that the job incumbent will experience minimal resistance. Also, we need to measure the effectiveness of the changes.

This is not an easy assignment as it appears. Also, with the class average work experience of 6 years, I am sure that there would be a lot of excellent suggestions and plans that would come up. One key thing is that perhaps as we work on this assignment, we will realize that HR is a key aspect of management.

One of the "match" for my Career leader test stated that I could try HR as a career option!. I never personally believed that that I was a "HR type" guy. But then, working on this assignment gives a feeling that I could bring in some definite changes! :)

BTW, herez an interesting article on how top Honchos are moving to the HR world. I have met Mr Pai and had a 1 hr interview with him, and I can certainly state that he looked more of a number cruncher than a HR guy…But here he is - doing his job and adapting well to the new role !

Scandal inspires Azzuri to victory

The taste of victory is always sweet ! Great job Italy.
This is a perfect example of converting one's negative thoughts to bring positive results .

Comfortable Chaos or Multitasking- The next great curse

As a student, I want to do a lot of different things at the same time.
I want to improve my concentration, enhance my productivity.

"With the proliferation of wireless devices, e-mail and websites, we've been caught up in a dust storm of information competing for our attention," says Dr. Hallowell, a former professor at Harvard Medical School and now director of the Center for Cognitive and Emotional Health in Sudbury, Mass. "Meanwhile, we're being told that multitasking is a valuable skill, so we try to keep two or three balls in the air simultaneously."

But the brain isn't wired to handle this rush of competing chores. "As you try to do more tasks, you're not likely to do them as well because you can't think in-depth on any of them,"

Making order out of chaos
You can't slow down the pace of work, but you can control the multitude of time-wasting distractions competing for your attention, says Dr. Edward Hallowell, author of CrazyBusy: Overstretched, Overbooked and About to Snap. Here's his tips:

Review how you work.
Invest your time in activities that give the most return and cut back on things that are peripheral.

Do what you love.
Focus on what you like and do best at work, and protect them against distractions.

Set goals and keep them.
Write an agenda of things you want to accomplish each day and stick with it.

Find your rhythm.
Perform routine activities at the time when you are most able to focus on them. For instance, read all your e-mail in the morning before you get caught up in other tasks. Try different schedules to see what works best.

Quit screen-sucking.
Trolling the Web or continually checking e-mails can be addictive. Try moving the computer screen to a less convenient location or put a clock near it to show how much time you're taking.

Create the right attitude.
Dwell on the positive, stay welcoming and upbeat with co-workers. That will make them more co-operative and willing to help with functions that drag on your time.

Delegate.
Things you aren't good at or don't interest you may be right down someone else's alley.

Get over guilt.
Remind yourself regularly that you are doing what you can to the best of your ability, and can't do it all.

Slow down.
When the computer takes too long to boot up, take a deep breath and relax rather than clenching your teeth. Ask yourself, "what's my hurry?" and you'll feel in better control.

Play.
Time off spent engaging in what you enjoy is not time wasted.


The complete article that came out in the Globe and Mail can be found here

A 12 Month MBA- Worth it?
One of the discussion items in Microeconomics subject had a question
"Was the fact - 12 months length of the Queen’s MBA program an important factor in deciding to come here?"

The team asked to answer this came with up the below answer. The below information might help a prospective MBA student in making an informed decision.

Answer:
"Yes, definitely".

Advantages we saw of a 12-month MBA over a 24-month MBA:
1. Shorter duration to learn everything you learn in 24 months.
2. Salary lost is only for 12 months not 24 months
3. Cost of living (accommodation, food, conveyance, phone calls etc.) is cheaper for 12 months
than 24 months.
4. Opportunity costs that are lost during 12 months are less than in a 24-month course as
seen in the graph ( Visit Link: http://business.queensu.ca/mbast/fees.htm)

5. Net Present Value of the 12-month course is higher as you start earning your salary in a
year as compared to a 24-month course. This is seen in the calculations given below where
we see that the NPV of doing an MBA at the Rotman School of business is $104,576 less
than with a one-year program.

NPV of doing a one year MBA at Queen's
Costs associated with getting this MBA:
a. the tuition cost: 55,000 CAD
b. the opportunity cost of lost wages for 1 year.
Average Salary expected after graduation: $92,866 (FT report on avg sal)
Sal % increase = 94%
Therefore Avg sal prior to the MBA: $47, 869
Total Opportunity cost of studying this MBA: $95, 695
On an average MBAs work for 35 years and
NPV of the 1 yr MBA program= USD 641,144 Gain.!

NPV of doing a two year MBA
a. Opportunity cost of doing a 2 yr. MBA at Rotman from the information given above = $200 271
b. NPV USD 536,568 Gain!

6. Finally, since we (the students) come with substantial work experience, we are in a position to understand concepts faster and don’t require an academic-based 24-month program.

Another excellent article worth reading is "Theoretical study is the preperation for dealing with the unexpected".You can read this article here

Game theory for World Cup

I came across these two interesting articles that talk about how Game Theory is used in soccer (for the world cup , during penalty shoot outs.)

The article goes on to say that Italy’s goalkeeper Gianluigi Buffon is supposedly a superb economist — his strategies are absolutely unpredictable, and extremely successful

Links for the two articles are:
http://economictimes.indiatimes.com/articleshow/msid-1696499,curpg-1.cms

http://www.slate.com/id/2144182

Enron founder Ken Lay dies, aged 64

THE RAGS-TO-RICHES story of Kenneth Lay could have been one of inspiration.But he got greedy and this led to his down fall.

In every business school across the globe, whenever the professors teach Business Ethics or Financial Accounting, Enron and Ken Lay will be discussed in the class.

The man exists no more but the bad reputation that he built will last forever.

$100,000 note can't get u a loaf of bread



The 100,000 Zimbabwean dollar note that went into circulation last month was officially worth just over $1.In a country stricken by 1,000 per cent inflation, the world's worst, the new note will not even buy a loaf of bread.

Read the article here

Ottawa Trip
For 24 hrs, we were away from Goodes Hall, Team plans, meetings, assignments and workload.The Ottawa trip was a stress buster. We saw the Fire cracker show, walked all around the parliament house , enjoyed the street events, appreciated some live music performances and did some pub hopping.

It was great to see everyone in a relaxed mood. Folks were there with family and friends.
The kids added more excitment to the entire journey. Some pics ..

Itz time to get back to books and realize that there is a LOT of stuff to be completed.

How much does Class diversity help?

People often wonder if diversity in a class is important. I think yes.
You get to hear different thoughts, ideas and views from people of different countries and backgrounds.

Herez an example to illustrate that. We discussed the Rober Mondavi Case in the Biz Strategy class where we examined the competitive challenges facing Robert Mondavi as the wine industry begins to consolidate globally.
The French classmate of ours had the final say in the class discussions. He talked about how good the french are in the business. The french grow wine at their back yards !. The Guy from New Zealand gave his views on what he thought about Fosters, an Australian company getting into the wine business. The lady from UK shared her thoughts on how the "old world" thinks about wine industry. The Chinese guy talks about the potential of wine market in China. Wine industry is a hit in China. The American guy comments on wines available in retail stores out there. The Canadians talk about where good wine is available in their country and I, as an Indian wonder if India has a potential for Wine Market ! :)
BTW, the Canada day long weekend is here. There are no classes on Monday. We have loads of assignments to be completed. Exams are due in 2 weeks. But, everyone wants to take some time off, recharge their batteries, have some fun and get back to books.
So, we are off to Ottawa for the Canada Day celebrations. Watch this space for the pics.