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Contributors Dr Suresh Srinivasan
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One of the things that Canadian entrepreneur Brian Tracy talks about in his “4 Principles of Marketing” is “differentiation”. According to Tracy, the only way to success for a brand is to find a way to differentiate itself from its competitors. Only then will customers want to buy that brand. I’m sure you draw the analogy here, right? Here you are, standing at the cusp of your MBA education, having already won the first round of taking the CAT. Now, all you have to focus on is cracking the next round — the group discussion, personal interview and, in many cases, the written ability test. Here, you are the brand, and the business schools are your customers. Basically, you have to market yourself, and show the business schools that you are indeed what they are looking for. To do that, you have to find a way to differentiate yourself from all the others vying for a seat in those schools. You may wonder what differentiates you from everyone else. Well, my friend, the answer is simple. You! As a person, you are unique, and there is no other person in this entire universe quite like you. THAT is what makes you unique — your personality. That is the differentiator, and your personality is what you have to sell to the B-schools. Our cover story in this issue deals with exactly that — how to convince the institutes that you are what they want. Finally, as always, I urge you to go through the Corporate World section of Advanc’edge MBA. Written by a faculty of Great Lakes Institute of Management, this section contains informational and analytical articles on the Indian and world economy, and right now, it is the most important segment for you. Now is the time you go through all your issues of Advanc’edge with renewed vigour, and read this section. If you do, you will be completely up to date on current events, and I assure you, the GD-WATPI round will be a walk in the park. So tuck in with your previous issues of Advanc’edge, and make sure you read newspapers thoroughly every day. You’ll be more knowledgeable, and will be able to differentiate yourself from the rest of the crowd easily. All the best.
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Aditya Prakash Iengar Editor
contents 06
COVER STORY
14
MBA BUZZ
16
XAT 2018: A perfect alternative to the CAT
18
December 2017
30
SUCCESS STREET
32
NEWS SNIPPETS
35
CORPORATE WORLD
CORPORATE INTERVIEW
38
Paradise Papers leak: A breakdown
RUTIKA MALAVIYA,CEO, Rooh Entertainment
41
All you need to know about Bitcoin
44
STUDY HOUR
46
Word Dose: The polite welcome
Exit West
48
Globescan
Angela’s Ashes
50
SuDoKu
Cracking GD-WAT-PI: It all begins with you
B-school tests after CAT
22
COUNTDOWN
28
MUST READS
15 Important events of 2017
The Effective Executive
Disclaimer : The views expressed in the articles by contributors and others are not necessarily those of the Publishers, unless specifically stated therein. While no effort is spared in ensuring the accuracy of the information published herein, readers are advised to reconfirm the current facts before acting upon any such information. The Publishers regret their inability to accept responsibility for any inadvertent errors of commission or omission in this issue. Readers are recommended to make appropriate inquiries before incurring expenses or entering into commitments in relation to any advertisement appearing in this publication. The publishers do not vouch for any claims made by the advertisers of any products or services. The Publisher, Printers or Editor shall not be held liable for any consequences in the event of such claims not being honoured by the advertisers. All rights reserved. No part of this publication may be reproduced, in any form or means, or stored in a database or retrieval system without prior permission from the publisher.
SURESH VENKATRAMAN, Chairperson Admissions IFMR
News in brief
Demonetisation 2016: Taking stock after a year
Test Q&As
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IFIM BUSINESS SCHOOL Ranked Among Top 30 Business Schools in India
PGDM Finance | PGDM IB
Admissions 2018
Full-Time, Two-Year Programmes Approved by AICTE & Accredited by SAQS/NBA
Bespoke Management Programmes
Truly International IFIM has tie-ups with leading B-Schools and Universities across the globe in countries like USA, Australia, France, Germany, UK, Singapore, etc. for student exchanges and immersions, exposing students to best practices across the world. Flexible Curriculum Allows Personalization IFIM is the only institution with a completely flexible PGDM programme that empowers the students to create their own learning paths to fit their career aspirations. Dual Mentorship Program IFIM Business School provides an enriching corporate and faculty mentorship programme for all students to enable them to choose their career path and motivate them to achieve 200% of what they think they are capable of. Social Immersion Program (SIP) Social responsibility awareness is created by enabling students to design solutions for social problems through a Techno Economic Viability study and execution, thereby leading to sustainable and measurable positive social impact.
Extensive Industry Internship Program (IIP) IFIM has a unique industry internship program (with double the standard summer internship) enabling a ‘laboratory experience’ for the students to ‘learn by doing’, in a real corporate work environment. In fact, several corporates have sponsored labs in the campus to train students from day one, including IBM Business Analytics lab, Prabhudas Lilladher Finance lab and Bloomberg Trading Terminals, etc. Professional Tie-ups IFIM has tie-ups with professional organizations like CFA Institute of USA, NASSCOM, NSE, Toast Masters International, NEN, LEDMAC, National HRD Network, EDII, etc. allowing our students to regularly interact with corporate who’s-who and get exposed to cutting-edge topics that impact business environment. Research Incubation IFIM takes pride in being the first Business School where each student is expected to author original research publication based on the research projects that they conduct, to be published in top international journals.
To know more and to apply online, please visit: www.ifimbschool.com #8P & 9P, KIADB Industrial Area, Electronics City Phase I, Bengaluru - 560 100 080–4143 2800/888 | +91 99000 67702/6/8 | info@ifim.edu.in | www.ifim.edu.in Advanc’edge Mastering Business Acumen December 2017
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PGDM
COVER STUDY STORY ANDHRA HOUR PRADESH
Cracking GD-WAT-PI: It all begins with you Today, B-schools are adding to the traditional methods of group discussions and personal interviews. The process is often augmented by a written ability test. Of course, the most important is the PI. We give you a few tips for the best way to get through this round. The Advanc’edge Team
A
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re you the hare or the tortoise? Before you start introspecting, you should know that I refer to the “new and improved” version of our naïve pal who, being very disappointed at losing the first race, did some introspection of his own and realised that he’d lost the race only because he had been arrogant, careless and laid back. He knew that if he hadn’t been so, there was no way the tortoise could have beaten him. So he challenged the tortoise to another race and this time, without taking any chances, ran without stopping from start to finish. As expected, he won by several miles.
The moral — slow and steady doesn’t cut it anymore! You need to be fast, accurate, thorough, confident, and prudent enough to learn from others’ mistakes (yes, learning from your own mistakes is passé — a wise man learns from others’ mistakes, a fool from his own, especially in this glorious age of information sharing and social networking.) Those of you who have even a glimmer of hope of clearing any written test that you have taken need to start your preparation for the next selection round as soon as you put down this article (read all of it first, though). You can’t afford to wait for that “shortlisted” status update. You will be able to enjoy the fruits of your initial labour with or without a B-school call. GD-Case StudyE s s a y -Wr i t t e n ability testG r o u p task-Group InterviewExtempore-PI are the various selection tools that B-schools use these days. But do you know what the common denominator for all
Advanc’edge Mastering Business Acumen December 2017
of these is? You! Your personality, which will get reflected in these tasks. And that is what you need to work on first. Not just because you might be facing a panel, but because it’s high time you figured yourself out. Why do you want to do an MBA? What are your career goals? What kind of person are you? What are your strengths and weaknesses? What are your hobbies? Do you possess leadership skills? What are your dreams and aspirations? What is your definition of success?
What is common in all of these questions? You! It doesn’t take a genius to figure out the answers to all these questions, but you would be surprised at the sheer number of students who cannot answer these questions with conviction in their interview. Why? Maybe they trivialised the significance of these questions, maybe they aped their friends’ answers, or maybe they thought they could pull the wool over the panel’s eyes and make them believe something they themselves didn’t… the reasons are not important. What
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HSEDCOVER ARRUPOHARYSTORY HDDUNTAS
Advanc’edge Mastering Business Acumen December 2017
COVER STUDY STORY ANDHRA HOUR PRADESH
is important is that you know better than to lose out on the best opportunity of your academic life because you are “lazy”. Yes, there is rarely another explanation. You have information and expert help at your fingertips. The challenge lies in time and motivation management. If you bring these two to the table, you are as good as selected.
So pull up your socks and start expanding your • Knowledge of self (your personality, skills, goals and hobbies), • Knowledge of what is happening around you and how you feel about it (current affairs), and • Knowledge of what you have done till now and what you have learnt from it (academics, work experience and extracurricular activities)
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You may have taken much in your life for granted. If there was ever a time to question why your life has turned out the way it has and where it is headed, it is now! Question your motivation and your past decisions and be bold enough to admit mistakes and take tough decisions. Better now than years later when you have a tonne of responsibilities. Once you yourself are convinced of your life choices, it isn’t hard to convince another person. And this second selection round is exactly that — a game of conviction! Bottom line, either you convince the B-school that you are what they have been looking for, or they convince you that you aren’t as great as you think you are.
The B-schools are getting creative, and so should you. Nowadays, case driven discussions are becoming more common,
probably because they are a better test of a candidate’s solution orientation, objectivity, rationality and ability to differentiate between idealism and pragmatism. Most of the IIMs, IIFT, and SCMHRD have included a written ability test in their selection process. IIM Indore, in fact, asked students to summarise a passage too. XIM-B surprised students by giving quite a few abstract topics or figures for the GD. SPJIMR conducted a psychometric test, which had 30 questions that the candidates had to answer in 10 minutes. Most
In the GD-PI round, what you speak must be relevant, well thought out, concise and precise. students could not complete the test due to shortage of time. The institute then went on to conduct group interviews. A group discussion was included as a part of the first group interview. Post this, some candidates were rejected and the ones who were still in the running had to face another, more stressful and detailed, group interview. FMS, standing by tradition, continued to conduct an extempore followed by a PI. NMIMS had a case discussion and a PI, but the HRM applicants had to write a case analysis, group exercise to participate in a case discussion on a new case, and finally appear for an interview.
Advanc’edge Mastering Business Acumen December 2017
SIBM Pune conducts 3 WATs, group exercise followed by an extempore and finally a PI. TISS also required candidates to fill a Detailed Pre-Interview Form (PIT) before the interview. As far as MICA is concerned, there is no limit to the creativity of the tasks. Students were asked to prepare a skit to depict audience behaviour either before the movie, or after the movie, or during the movie, re-enact scenes from classics, after tailoring them to their current situation, design a social networking platform for 2025, create advertisements using props, design marketing strategies, etc. You need to be aware of the personality traits that are under scrutiny during all the above mentioned exercises, so that you can start developing them. Clarity of thought: You need to think rationally and articulate well. What you speak must be relevant, well thought out, concise and precise. Some common fallacies in reasoning that you must avoid are: Making hasty generalisations: Be very cautious about using terms such as “all”, “always”, “”never”, “everybody”, “nobody”, etc. Modify your language to make it more accurate. Giving false analogies: If, for example, the Vice Chancellor of Mumbai states that the university should be run like a multinational company, the statement can be rejected on the grounds that the similarities between the two are incidental and not essential. Confusing correlation with conclusion: Just because two events occur together doesn’t imply that one causes the other. I was wearing a new dress when I got a promotion does not mean that this is the reason for having got the promotion. This is not a
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Advanc’edge Mastering Business Acumen December 2017
COVER STUDY STORY ANDHRA HOUR PRADESH
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valid statement. The assumption that the two events are related simply because they are related in time is invalid. Using non-sequitur (it does not follow) statements: In this type of statement the conclusion does not follow from the evidence presented. “A teacher who does not believe in corporal punishment is a good teacher” is not a valid statement, because the conclusion is drawn from evidence that has no bearing on the issue.
Listening skills: A widespread misconception is that the person who speaks the most in a discussion is the one who qualifies for the next round. One cardinal rule to keep in mind is that the performance of the whole group is important and thus, you being receptive to others’ ideas is critical. Without listening, knowledge does not flow. Those who cannot listen cannot think, and those who cannot think cannot write and speak. So, listening comes first, everything else follows. Active listening is imperative. It means listening responsibly, not merely absorbing words passively, but actively trying to grasp the facts and feelings in what you are hearing. The importance of active listening gets underscored in a group activity as listening to a group is harder than listening to a speaker. One needs to follow not only what is said, but also how it relates to what else has been said so that one can keep track of the thread of ideas and conclusions. It may so happen that you are asked to summarise the entire discussion, and in order to do that effectively, you need to listen. The major barrier to listening is that we get sidetracked; we lose tracks of what is being said. There are techniques that we can use to avoid falling into this trap. You can
try the following process: (Source: “Are you listening?” by Ralph Nicols and Leonard Stevens.) Think ahead of the talker: Try to anticipate what the oral discourse is leading to and what conclusions will be drawn from the words spoken at the moment. Weigh the evidence: Consider the justifications used by the speaker to support the points he is making. Ask the questions “Is this evidence valid?”, “Is it complete?” Review and summarise: Periodically review and summarize the points completed so far. Read between the lines: Get at the meaning that is not being expressed by the spoken word. Pay attention to the non-verbal communication (facial expressions, gestures, tone of voice) to see if it adds meaning to the spoken words. Critical analysis: Whenever allotted a topic to speak on, judge its chief concern and align your recommendations to it. Examine the facts and situations from the perspective of the overall impact on various stakeholders involved in the scenario. Assess the facts and information in this light and accordingly suggest solutions. This is even more essential during a case discussion. You will be presented with a case and given some time (about 2-5 minutes) to collect your thoughts before the discussion begins. You should prioritise the different recommendations you develop in the given period after reading the case thoroughly.
does not mean effective communication. Effective communication is the ability to put forward your ideas in a precise, convincing and concise manner. In a 15-20 minute GD, you will get very few opportunities to speak, so start practising putting across your ideas effectively whenever you get a chance to speak. Work on your aggressiveness. You can be assertive but not aggressive. It is definitely desirable to have a manager who knows what he is talking about and does not get swayed by what others think, especially when his own thought process and conclusions are logical and carefully worked out. In the actual discussion, even though you may make a good point, someone else might make a better one. You need to be swift in realising it and tone down your aggressiveness, if felt, with adaptability and receptiveness to the other’s ideas. Get rid of the habit of using slang/vernacular expressions in your colloquial speech. While practising a discussion, ensure that you don’t make personal remarks against any individual participant. Ability to interact within a group: Team building skill is another much-desired trait in a manager. During the two years at a B-school and later on, throughout your career,
Communication skills: Fluent speech
Advanc’edge Mastering Business Acumen December 2017
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COVER STUDY STORY ANDHRA HOUR PRADESH
will be working in teams. There have been numerous cases of individuals with potential becoming failures because of their inability to work in a team. For you to become a successful leader tomorrow, you have to be a good team member today. A discussion is not just about getting a chance to speak. It is actually a group activity where all participants are required to be involved throughout the process. Even if you do not get too many chances to speak, it is important that you are involved in the discussion even when you are not the one doing the speaking. You can do this by actively listening to arguments being put forth by other participants. The act of listening and being mentally involved in the GD will also get reflected in your body language.
Whenever you speak, your contribution must be:
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Sufficient: A contribution should be long enough to make its point. Most contributions that fail to get through are too short, rather than too long. Obviously, a contribution is of little value if too little is said to make the point clear and related.
Relevant: The contribution you make should be relevant to the topic being discussed. Sometimes the relevance may not be apparent at the outset of your contribution, and you may be checked by your listeners on that count. But if you are convinced about the relevance of your line of thinking to the topic, then upon being checked, you can ask your listeners to be patient with you, and assure them that you will demonstrate the relevance of the topic if only they would hear you out. Related: Often a contribution is relevant, but is not related to the comments that have just preceded
it or what is likely to follow. One good way to establish relatedness is to introduce your comment like this, “I’d like to go back to the point that X made and add some evidence.” Clear: You should never assume that just because you have spoken, you have communicated. In order to make certain that everyone in the group understands what you are saying, it may be useful to define what you mean by certain significant terms. For example, if you are discussing “the secular nature of the Indian Constitution”, you may want to clarify that you
A discussion is actually a group activity where all participants are required to be involved throughout the process. understand secularism to be that “no one religion is to be given special preference in the country”, before talking about your opinions on secularism. Objective: Try as far as possible to be objective, rather than opinionated. Basing your opinions on facts instead of on beliefs or faith will lend an air of maturity and open-mindedness to your contribution. Open to evaluation: An effective contribution shows a willingness to have the contribution evaluated. For example, if a group is discussing
Advanc’edge Mastering Business Acumen December 2017
the latest developments in the economy and one member offers this contribution “the price of gold stock is rising on the international stock market. This shows that the economy is headed for trouble”, he has presented his evidence and the conclusion he has drawn from the same. But he has not shown the reasoning process by which he reached that conclusion, making it impossible for other members of the group to comment on the evidence and bring forth other points of views. If he had rephrased his contribution by including his reasoning process, which is this – “the rising price of gold stock indicates a lack of confidence in other stocks and is therefore a predictor that investors will pull back on their investments in other businesses”, he would have left room for other participants to comment on this reasoning process and maybe point out other ways of looking at the issue. Evaluations of contributions are a must if the group is to reach worthwhile conclusions. Provocative: Contributions must provoke further thought. Contributions like “this is it” or “two plus two equals four and no more need be said” or “it’s just as simple as that!” or “We’ve tried it before and it didn’t work” cut off controversy and dampen the desire to think further. Start working on these skills and become aware of how many of the above criteria your spoken or written contribution fulfills. And remember that style can never compensate for substance. You need to start increasing yourself and general awareness and then work out what your opinions on various issues are. That, coupled with the valuable tips given here, will ensure that you impress your evaluators and bag that coveted seat. A
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HSEDARRUPOMBA HARYHDBUZZ DUNTAS
Advanc’edge Mastering Business Acumen December 2017
MBA STUDY ANDHRA BUZZ HOUR PRADESH
B-school tests after CAT After CAT gets over on November 26, there are a host of other important management exams lined up this season. Let’s take a look.
Name of the test Test Date
Test Time
Institutes accepting the test
Symbiosis National Aptitude Test-SNAP 2017
17 December 2017
2pm - 4pm
Accepted by Symbiosis Institutes such as: • Symbiosis Institute of Business Management (SIBM - Pune) • Symbiosis Centre for Management and Human Resources Development (SwCMHRD) • Symbiosis Institute of Computer Studies & Research (SICSR) • Symbiosis Institute of International Business (SIIB) • Symbiosis Institute of Telecom Management (SITM)
Mudra Institute of Communications, Ahmedabad Test- MICAT I and MICAT II
MICAT 1 17th Dec 2017 MICAT II: 17th Feb 2018 Paper-based: 10th December 2017 Online: 16th December 2017 6th January 2018
NA
Mudra Institute of Communications, Ahmedabad.
Paper-based: 10.00 am -12.30pm
A few of the institutes accepting MAT are: • Great Lakes Chennai-PGDM • Praxis Kolkata- PGP Business Mgmt • XIME- Bangalore • Alliance Bangalore • ITM Navi Mumbai • Christ College Bangalore
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Management Admission Test-MAT December 2017
th
Online: Different slots
Tata Institute of Social SciencesNational Entrance test- TISS-NET 2018 Xavier’s Aptitude 7th January Test-XAT 2018 2018
2:00 pm to 3:40 pm
Tata Institute of Social Sciences, Mumbai
10am 1.35pm
All institutes affiliated to Xavier’s accept XAT scores. Other important institutes accepting XAT scores include: • S P Jain Institute of Management & Research • Great Lakes Institute of Management • Goa Institute of Management • K J Somaiya Institute of Management Studies & Research
CMAT 2018
20th January 2018
Test will begin at 9:30 AM
A few of the institutes accepting CMAT are • K J Somaiya, Mumbai - PGDM • Praxis Kolkata • Welingkar, Mumbai - PGDM • NIBM, Pune • BIMTECH, Noida • XISS, Ranchi
NMAT by GMAC™
5th October 2017 to 18th December 2017
Test Slots can be selected according to the availability at the selected Test center.
A few of the institutes accepting NMAT are • SVKM’s Narsee Monjee Institute of Management Studies • XIM Bhubaneswar • ICFAI Business School (IBS) • Alliance University • Woxsen School of Business Management
Advanc’edge Mastering Business Acumen December 2017
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HSEDARRUPOMBA HARYHDBUZZ DUNTAS
Advanc’edge Mastering Business Acumen December 2017
MBA STUDY ANDHRA BUZZ HOUR PRADESH
XAT 2018: A perfect alternative to the CAT About 80 to 90,000 students take the XAT compared to the 2 lakh plus students registering for the CAT. This means that every student taking the CAT does not necessarily take the XAT. Let’s break the myth and unravel why every CAT-taker should also take the XAT. Vinayak Kudva National Chief Mentor, IMS
“
Why should I take XAT – I was never interested in HR!” “XAT is more difficult than the CAT, so I rather take easier tests” “XAT has an essay section – I am not good at writing essays” These are some of the common reasons I hear from students on why they generally do not register for the XAT. Let me give you a few good reasons why you should definitely take the XAT:
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Beyond HR
For a whole lot of people XAT corresponds to XLRI and XLRI to HR specialisation – hence the usual refrain, “I am not interested in HR, so I am not taking the XAT!”. Both these analogies are incorrect, to say the least. The HR programme of XLRI is no doubt the best of its kind in the country, but that does not in any way belittle the quality of the BM programme at XLRI. The BM programme is also very popular and successful as and is considered to be amongst the best 5 MBA programs in the country for General management. So, if you are an HR aspirant then you must take the XAT and if you aren’t an HR aspirant you still must take the XAT.
Beyond XLRI XAT is not a test to be taken only
for XLRI – it is also the gateway to 150+ other institutes that include names like S.P. Jain, XIM Bhubaneshwar, MICA, TAPMI, GIM Panaji, LIBA, K.J. Somaiya, Welingkar, Great Lakes Chennai, IIFM Bhopal and IMT Ghaziabad. One may argue that most of these B-schools also accept the CAT – then why take one more test? The reason is very simple – XAT will serve as a Plan B for you. If
XAT being more difficult than CAT is only a perception – there is no scientific measure for it. you unfortunately under-perform in the CAT, you will have one more test to back on and still have a chance to make it to your dream B-Schools. I know of enough students in the past who did not do too well in the CAT but achieved a 90+ percentile in the XAT and eventually made it to some of the top 30 Indian B-Schools thus SAVING a year!!
Advanc’edge Mastering Business Acumen December 2017
Difficulty matter
level
does
not
XAT being more difficult than CAT is only a perception – there is no scientific measure for level of difficulty. In any case, these entrance tests do not need you to score a 100 on 100 or even an 80% to qualify. It is only your relative performance that matters. In other words, you only need to perform better than a sufficient number of test-takers to do well and secure GD-PI calls from the institutes of your choice. It is interesting to note that last year a score of around 30% was sufficient for a call from XLRI and a 20 to 25% would get you calls from some of the top 30 B-Schools! So, it does not matter if the test is easy or difficult – you just need to go and give it your best shot. Maximise your attempts and accuracy, and who knows that may just be enough to clear the cut-offs this year.
The importance of ESSAY writing The essay section of XAT is another reason why a lot of people hesitate to take the test. Let me clear a few cobwebs around the reality of the essay section – firstly the essay section score is only considered by XLRI
HSEDARRUPOMBA HARYHDBUZZ DUNTAS
and none of the affiliate institutes for their selection process. And even the XLRI programmes consider the essay score only at the second stage of the selection process. So the only thing you lose because of a badly written essay is a probable admit to an XLRI programme. Note that I am in no way suggesting that you should therefore write a bad essay – I strongly believe that you should work on your essay writing skills as the same is also assessed by most of the top 30 B-Schools including the IIMs at a later stage of the selection process (Written
Assessment Test or WAT). A little bit of effort and practice now on how to construct an essay and how to analyse an issue or an argument will stand you in good stead not only for the XAT but also for the WAT process.
The XAT timing The XAT is conducted in the first week of January – this gives you one complete month after the CAT to fine-tune your preparation and enhance your level of preparedness. So, your XAT percentile may get sufficiently better in comparison to your CAT percentile. Further, if you missed the CAT deadline and
are therefore not taking the CAT this year – here is your opportunity to take a test that still gives you a chance to be in the top 30 B-Schools of the country.
Nothing to lose Even if none of the above reasons convince you – take the XAT in any case because you have nothing to lose and everything to gain. If you do well in the test you would have added a few more GD-PI calls to your kitty, and if you don’t do well then you can at least say that you tried. Remember that you must run the race to have any chance of winning it!! A
MICA, Ahmedabad
Gitam School of International Business, Vizag
IRMA, Anand
Amity, Noida
KJ Somaiya, Mumbai
IIRM, Jaipur
FORE, Delhi
IMT, Nagpur
IFMR, Chennai
MET, Mumbai
Acharya IOM, Bangalore
XIM, Bhubaneshwar
Christ College, Bangalore
TAPMI, Manipal
Great Lakes IEMR, Gurgaon
Welingkar, Mumbai
XISS, Ranchi
Great Lakes, Chennai (2 programmes)
IMDR, Pune
Praxis, Kolkata
ITM, Navi Mumbai
XIME, Bangalore
SP Jain, Mumbai
PUMBA, Pune
GIM, Panaji
BIMTECH, Noida
IMT, Ghaziabad
IMT, Hyderabad
IIFM, Bhopal
ISB&M, Pune
LIBA, Chennai
NDIM, Delhi
Alliance, Bangalore
Flame School of Business, Pune
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Some of the major B-schools that accept both CAT and XAT
CORPORATE INTERVIEW
Let no one tell you that you are incapable says Rutika Malaviya,CEO, Rooh Entertainment, Animation Digital Digest and Licensing Corner. In an interview with Alolika Banerjee, she talks about how she metamorphosed from an introverted person to a successful entrepreneur today.
Q. You have mentioned that there was a transition in your personality from being an introvert to an extrovert. How did this transformation happen? My transition into what I have become from what I used to be is certainly remarkable. There was a time, when I used to be shy of people and spend entire evenings in any parties mostly at corners. During
the initial years when I took up the responsibilities of my venture Rooh Entertainment, it wasn’t much difficult for me to interact with the clients because to be honest, they were the people who knew me previously from a long time. However, as and when we expanded, it was necessary for me to step out of my comfort zone and reach out to the world. Trust me, initially, I was terrible at socialising and networking and failed miserably to put up a good show. I am fortunate to have received the assistance of a few business associates who taught me how to get over my fears. And now I can proudly say that I am quite adept at public speaking and have addressed audiences of 500 and above even outside India, in countries like London, USA, South Korea and Hong Kong. I feel there is nothing that a human being cannot achieve if he or she badly wants it. There is a drastic difference between the old me and the new me and I could only change because I was keen for it.
Q. What made you decide that you want to go into the world of advertising?
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My family’s roots are in Bollywood. I have grown up seeing television commercials being conceptualised. As a young girl, I had been part of the production team as well, and that induced in me a fascination for the world of advertising and events, right from my childhood. I have worked as an intern in reputed advertising agencies like Ogilvy, Mudra and JWT. My stints in these places made me realise that I was meant for the ad world. The adrenalin rush, the chaos, the confusion and then finally the creation, all these are the stuff I live for.
Q. From a plush well-paid job at JWT to a startup. What were your fears when you were starting off? Advanc’edge Mastering Business Acumen December 2017
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CORPORATE INTERVIEW
I knew myself and believed in my instincts well. The ad world fascinated me right from the beginning and so I knew I will put up a decent show when I start my own venture. To be honest, I was so excited and eager to start off that I had no room for any fears whatsoever. There is one thing I truly believe in, ‘You don’t get what you ask for, you get what you negotiate for!’
Q. What were the challenges that you had faced when you started your company in the first place? There were various challenges when we started off. Dealing with clients was one big issue that I faced. There were difficulties in convincing the clients to begin with. We were not a reputed name so it wasn’t easy to put across our point of view initially. However, since we never compromised on the quality of our services and believed in what we promised to offer, in the end, the clients liked our work and this way our clientele also expanded.
Q. You have mentioned that you always wanted to be an entrepreneur. How did you develop this interest over the years?
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Q. How do you think an MBA degree equips individuals to face corporate challenges? Entrepreneurship doesn’t need a degree or any kind of qualification. It’s a trait that’s inborn. However, I feel two years in a B-school can hone those skills and make students fit for the corporate challenges ahead. I feel along with the IQ, the emotional quotient or the EQ of a person is also necessary to make them face day-to-day situations in office.
Q. What do you think are the most important traits an entrepreneur needs to have?
The most important qualities an entrepreneur needs to have are will power, dedication, commitment and consistency!
I come from a business family, so I feel entrepreneurship is there in my blood. I always knew that a 9 to 5 job was not for me. I feel that being the kind of person I am, I would never have been able to give my best had I been in a service oriented job. I did my MBA from NMIMS and that went a large way helping me make up my mind about my resolve ahead. My studies in business management enabled me with business development skills, leadership qualities, decision making, multi-tasking and others. And as and when I started my own venture, I learnt the different aspects of the business from getting clients, making reports, talking to media, planning, strategies, finances everything. I love the challenges that life brings in each day.
who work out solutions rather than those who are dependent on others to show them the way all the time! I look for one quality in them which is whether they are ready to handle the challenges and how they would react to them. They should be capable enough to deal with the situations assigned to them.
Q. Now that you are running your own venture, what are the qualities you look for in people who seek employment in your own company? I like people who are self-motivated and have an innovative thinking process. I like to have people
Advanc’edge Mastering Business Acumen December 2017
I feel the most important qualities an entrepreneur needs to have are will power, dedication, commitment and consistency!
Q. As a woman, do you think you have ever been discriminated against in the professional sphere?
There is a rule that I follow in life, ‘your potential is only limited by your excuses!’ I have to admit that there have been occasions where I have been discriminated against just because I am a woman. But I never let that affect me and go against me in any way. My identity is way beyond any kind of gender bias.
Q. What are your aspirations in the near future? To be on Forbes magazine as the businesswoman of the year! Hopefully, I’ll get there soon! (Smiles with a wink)
Q. Any word of advice for management enthusiasts of today... Listen to your heart and don’t let anyone dampen your spirits by their negative reactions. Remember it’s not enough to dream big, you also have to work hard to achieve that big dream. A
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MUST STUDYREADS ANDHRA HOUR PRADESH
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HSEDARMUST RUPOHARYREADS HDDUNTAS
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MUST STUDYREADS ANDHRA HOUR PRADESH
Since you’re planning on doing your MBA, you need to be well read, and not just on current affairs. In this section, we offer you some choices of books that will broaden your perspective, and you will find that you will never be at a loss in a discussion!
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hat’s the exact role of an executive? Well, to get things done. We knew this but writer Peter F. Drucker in his book The Effective Executive mentions that it’s a lot more than that. And the work usually involves doing what other people have overlooked and coming up with positive results. Drucker identifies five practices essential to business effectiveness that can, and must, be learned: • Managing time • Choosing what to contribute to the organisation • Knowing where and how to mobilise strength for best effect Name: The Effective Executive • Setting the right priorities Author: Peter F. Drucker • Knitting all of them together with effective decision-making Publisher: Harper Business In this book, Peter F. Drucker demonstrates the particular skills that Price: `880 are specific to an executive and offers fresh insights into old and seemingly obvious business situations. Genre: Non-fiction
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n a country on the brink of civil war, two young people meet and get involved in a relationship that is fierce enough to sustain them both. Sensual and brutally independent Nadia and gentle, restrained Saeed are the two main characters in this tumultuous tale. They embark on a furtive love affair in a city that is marked by violence and unrest. When it explodes, turning familiar streets into a patchwork of checkpoints and bomb blasts, they begin to hear whispers about doors—doors that can whisk people far away, if perilously and for a price. As the violence escalates, Nadia and Saeed decide that they no longer have a choice. Leaving their homeland and their old lives behind, they find a door and step through. Name: Exit West Exit West follows these characters as they emerge into an uncertain Author: Mohsin Hamid future, struggling to hold on to each other, to their past, to the very sense Publisher: Penguin Random of who they are. Profoundly intimate and powerfully inventive, it tells an House India unforgettable story of love, loyalty, and courage that is both completely of Price: `361 Genre: Fiction our time and for all time.
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story that accounts for Frank McCourt’s survival amidst trying times, Angela’s Ashes is an astounding humour and compassion, which bears all the marks of a classic. “When I look back on my childhood I wonder how I managed to survive at all. It was, of course, a miserable childhood: the happy childhood is hardly worth your while. Worse than the ordinary miserable childhood is the miserable Irish childhood, and worse yet is the miserable Irish Catholic childhood.” So begins the Pulitzer Prize winning memoir of Frank McCourt, born in Depressionera Brooklyn to recent Irish immigrants and raised in the slums of Limerick, Ireland. Frank’s mother, Angela, has no money to feed the children since Frank’s father, Malachy, rarely works, and when he does he drinks his wages. Yet the irresponsible father nurtures in Frank an appetite for the one thing he can provide: a Name: Angela’s Ashes story. Frank lives for his father’s tales of Cuchulain, who saved Ireland, Author: Frank McCourt and of the Angel on the Seventh Step, who brings his mother babies. Publisher: Scribner Book Company A book of astounding humour and compassion, Angela’s Ashes is a Price: `798 Genre: Autobiography glorious book that bears all the marks of a classic.
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HSEDARMUST RUPOHARYREADS HDDUNTAS
Advanc’edge Mastering Business Acumen December 2017
SUCCESS STUDY HOUR ANDHRA PRADESH STREET
Learn the need to reflect and conceptualise Says, Suresh Venkatraman, Chairperson Admissions IFMR. In an interview with Advanc’edge, he shows the way for management aspirants to cross the GD-WAT-PI hurdle. Q. What are the qualities you look for in candidates when they apply to your institute?
During our personal interview, we look for depth of knowledge in the applicants’ chosen subjects.
While shortlisting, we look for evidence of energy, and the ability to work with people. This calls for achievements across diverse areas of endeavour. We appreciate those achievements that require significant time and effort; also those that may have been at the cost of academics. We value success in team work in employment / sport / other areas. We conduct a WAT, and in that we look for the ability to articulate a position and the ability to disengage from that position. During our personal interview, we look for depth of knowledge in the applicants’ chosen subjects / topics, and oral communication skills.
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Q. How does IFMR’s MBA course, prepare students to face the corporate challenges ahead? Given the Volatile Uncertain Complex and Ambiguous (VUCA) nature of business, we build two competencies, intellectual strength to entertain multiple perspectives, and reexamine one’s mental map, and resilience to use every failure as a stepping stone to success. We do this through our highly interactive pedagogy and continuous evaluation with multiple components – classroom games, group assignments, and live projects from industry, peer assessment, case studies and simulation workshops. Students get to test their competencies through various Advt.
Advanc’edge Mastering Business Acumen December 2017
clubs and committees – almost 2/3rd of the batch serves in these organisations.
Q. Why do you think entrepreneurship is on the rise these days? How does IFMR’s MBA course, help students, who are keen to start their own venture, with opportunities for entrepreneurship?
I feel this generation was born into post liberalisation India and has seen the entry of Indian entrepreneurs in the global market. Naturally, students of this generation have lesser inhibitions and face lesser parental pressure than earlier generations. So it is not surprising that many of them are bitten by the entrepreneurial bug. We have a student led organisation TEC or The Entrepreneurship Committee, supported by a team of faculty. TEC regularly arranges visits by young entrepreneurs, both nascent and established ones, to engage with and inspire potential entrepreneurs at IFMR. We have also had visits from Angel Investors who have articulated their expectations to our aspiring entrepreneurs. Currently, we have over 6 students who will be venturing on their own after their MBA course.
Q. What do you think are the best ways to prepare for the GD-WAT-PI rounds? Experiment, experience, reflect, conceptualise – repeat this cycle to keep improving – it will be very useful to have someone assist you to record your experience, give you feedback on your performance, and sustain your motivation. Ideally that someone should have gone through GD-WAT-PI and crossed the hurdle of B-school admission.
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HSSUCCESS EDARRUPOHASTREET RYHDDUNTAS
Advt. Advanc’edge Mastering Business Acumen December 2017
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News in brief
Here are some interesting titbits from over the last month Post merger Vodafone, Idea may Relief for PE, pension funds from multiple taxation The Indian government has decided to provide a face network issues As the Vodafone India-Idea Cellular merger process gathers pace, experts have said that maintaining quality network coverage and consumer experience could emerge as a huge challenge for the combined entity. Vodafone India and Idea Cellular, the country’s second and third-largest telcos that are merging their businesses to form India’s largest phone company with more than 400 million customers, together have nearly 2.73 lakh sites.
significant relief to private equity and pension funds from being taxed under indirect transfer provisions. Central Board of Direct Taxes (CBDT), country’s apex direct taxes body, has said these rules will not apply to investment made by non-residents through the multilayer structure if the fund’s income is already chargeable to tax in India. This will address concerns raised by investment funds, including PE and venture capital funds, that their income from India could be subject to multiple taxation under indirect transfer provisions.
Lotte Confectionery to acquire Havmor Ice Cream for `1,020 cr
A further `5000 crore investment in Paytm in coming 3 years
South Korean food and beverage major Lotte Confectionery is all set to acquire Gujarat-based Havmor Ice Cream Ltd. (HIL) for `1,020 crore. Lotte Confectionery has decided to acquire 100% of shares of HIL, the ice-cream maker said in a statement. Pradeep Chona, chairman, Havmor Ice Cream said, “This decision was a very difficult one to make. It’s a brand that we have nurtured with our team for over 73 years. But we believe that Lotte Confectionery is the right brand to take the company to the next level.” Founded in 1944, Havmor Ice Cream has been one of India’s fastest growing ice cream brands over the last 5 years, according to the company.
Paytm, which is India’s largest online payments and mobile wallet company, is all set to invest another `5,000 crore in the business over the coming three years, said founder Vijay Shekhar Sharma. “The biggest threat for us will be us, not anybody else,” Sharma said in an interview. Paytm owner One97 Communications announced a $1.4-billion, or `9,000-crore, equity financing round from SoftBank in May. The Noida-based firm, which is backed by China’s Ant Financial as well, also plans to become the largest issuer for the government-backed Unified Payments Interface (UPI) although competitors including Flipkartowned PhonePe and Google Tez have a significant lead.
Retail inflation at seven-month high
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Retail inflation has quickened to 3.58% in October, the fastest pace in seven months. This has been spurred by rising food and fuel prices lately. This development will also rule out the possibility of an interest rate cut by the Reserve Bank of India in its December 6 monetary policy review. Measured by the Consumer Price Index of CPI, retail inflation rose by 3.28% in September. Combined food inflation in October was 1.9%, compared with 1.25% a month ago as vegetable prices increased by 7.47% from 3.92% in the previous month. Prices of milk and egg increased modestly and fruit and fish prices came down marginally. Data released by Central Statistics Office showed that inflation in urban India, at 3.81%, was higher than that in rural India, at 3.36%.
More than 450 dead in Iraq and Iran in the world’s deadliest earthquake this year A powerful earthquake struck near the Iraqi border, killing more than 450 people and injuring thousands of others in the world’s deadliest earthquake so far this year. The quake, recorded at 9:18 p.m., was felt as far away as Turkey and Pakistan. The damage was mostly in Iraq and Iran. The epicenter was near Ezgeleh, Iran, about 135 miles northeast of Baghdad, and had a preliminary magnitude of 7.3, according to the United States Geological Survey. Seismologists in the country said it was the biggest quake to hit the western part of Iran. Advanc’edge Mastering Business Acumen December 2017
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Comprehensive overhaul in the GST rates till date In a bid to overhaul the four-month-old goods and services tax (GST) in the most comprehensive manner till date, the Centre and states have been reviewing nearly half of the items in the top bracket of 28% and in that regard allowing even larger firms to file returns once a quarter instead of every month. A senior official has said that the fitment committee, which decides on product-specific rates, is looking at proposals to pare the rates on 150-200 items with a majority of them being from the top bracket. The list includes several products of daily use as well as sanitary and electrical fittings, construction material, furniture and goods, which are manufactured by the small scale sector.
NASA-Uber deal to build flying taxi air control software Uber is all set to take part in a joint industry and government push with NASA to develop a particular software that the company is planning to use for managing “flying taxi” routes that could work like ridehailing services it has popularised on the ground. Uber has said that it was the first formal services contract by the US National Aeronautical and Space Administration (NASA) covering low-altitude airspace rather than outer space. NASA has been using such contracts to develop rockets since the late 1950s. Chief Product Officer Jeff Holden also said Uber would begin testing proposed four-passenger, 200-miles-per-hour (322-km-per-hour) flying taxi services across Los Angeles in 2020, its second planned test market after Dallas/Fort Worth.
Search on for Infosys’s CEO’s post: Srinivas, Vemuri are the front runners Former Infosys executives BG Srinivas and Ashok Vemuri are the front runners to be the IT company’s chief executive, even as the firm explores creating a deputy CEO role to ensure management continuity, said people with knowledge of the matter. The Bengaluru-headquartered company is not having an easy time picking a new leader after former CEO Vishal Sikka resigned in August following a bruising battle with founder NR Narayana Murthy over corporate governance issues. Cofounder Nandan Nilekani returned to the company as non-executive chairman to steady operations. Infosys has interviewed a slew of candidates, including some executives from Oracle and Google, a top company executive said.
Over 50% cut in stent prices, but treatment costs still not lowered The move by the Indian drug pricing regulator to cut stent prices by over 50% earlier this year has not lowered the treatment cost as a leading hospital says it has “restructured procedure costs” to compensate for revenue erosion. A coronary stent is a wire mesh tube used to clear blockages in the arteries that pump blood to the heart and prevent heart attacks. In February 2017, the National Pharmaceutical Pricing Authority (NPPA) had slashed prices of drug eluting stents (DES) and bioresorable vascular scaffolds (BVS) as it found companies were making nearly 400% profits on these stents in India.
A park that’s themed on Cartoon Network, well that’s what coming up in India soon. Turner International India, which owns the Cartoon Network brand, has entered into a brand partnership with Gujarat based real estate, entertainment and hospitality group Rajgreen for the launch of a 61,000 square meter property Amaazia, in Surat. To be launched in the first quarter of 2019 on a budget of `450 crore, the amusement park will be located at Surat, in Gujarat. Amaazia will be Cartoon Network’s first brand association for an amusement park in India. In Asia, it already has two such partnerships, Cartoon Network Amazon Water Park in Pattaya, Thailand and in IMG Worlds of Adventure in Dubai it has an entire Cartoon Network Zone. Advanc’edge Mastering Business Acumen December 2017
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India to get its first ever Cartoon Network based themed park
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Salaries in India are projected to rise 10% in 2018 Salaries in India are projected to rise 10% in 2018, same as the actual increase in 2017, according to the Q3 2017 Salary Budget Planning Report released by Willis Towers Watson an advisory, broking and solutions company. Indian employees could very well see a single digit salary increase in 2018 for the first time since 2011, says the company. The recently released report looks at a range of job grades across various industry sectors and is designed to provide companies with guidance for their annual salary forecasting for the year ahead.
India gets 131st ranking in an Index of countries for women’s security In a new Women, Peace and Security Index for the year 2017/18, Iceland has been given the top rank followed by Norway and Switzerland. This ranking lists the best and the worst countries for women in the world. India has got position number 131. As with other indicators, European countries lead in this ranking while the strife-torn nations fare the worst. This Index brings out a list of 153 nations on three basic dimensions of well-being – inclusion, justice and security. The worst five countries in this list are Central African Republic, Pakistan, Yemen, Afghanistan and Syria.
Apple to recruit from IIT Bombay this year Tech giant Apple will pick talent from the Indian Institute of Technology Bombay this year. While it has been in discussions with several other tech campuses across India, it has confirmed its presence at the Powai campus for the 2017 placement season. The company has floated its application forms for prospective interested graduates. Applications to take the preliminary short-listing exam were circulated on November 12 and that test would be held before the semester exams take place in the last week of November. While many other IITs are also speaking to Apple Inc, there is little clarity on which other IIT the tech giant would be visiting. In all likelihood, Apple may pick students for their India facility.
Skype gets blacklisted in China Skype has joined the list of internet communication tools that have been blacklisted in China. Skype is no longer available for download on the China Apple Store or Android sites, with Chinese web-users saying it had been gone for weeks. The company did not specify which laws such apps were found to have violated. But China has tightened its already stringent online policing this year, including enacting new rules that require tech companies to store user data inside the country as well as imposing new restrictions on what is permissible content.
Coca-Cola India expects Thums Up to be a $1 billion brand in 2 years Coca-Cola India is looking forward to making its softdrink Thums Up to be a $1 billion brand in the coming two years and is adding variants to the home-grown product. With the introduction of ‘Thums Up Charged’, the company has added the first ever variant to the 40-year-old brand. “We expect Thums Up to become a $ 1 billion brand in next two years. The launch of Thums Up Charge will help accelerate the journey of becoming the first home-grown billion dollar beverage brand,” Vijay Parasuraman, Vice President, Marketing, Coca-Cola India and South West Asia, said.
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IIT-Bombay breaks into the 9th position in the BRICS list of top universities
For the first time, IIT-Bombay broke into the Top 10 list of latest Quacquarelli Symonds (QS) ranking of BRICS universities for 2018 by bagging the ninth position. IIT-B improved its rank by four positions from last year among institutes in BRICS nations. It was also the best-ranked among Indian universities. However, Indian Institute of Science (IISc), Bengaluru, lost the sixth position it had secured in 2016; it now ranks 10. Four Indian universities, IIT-Bombay, IISc-Bangalore, IIT-Delhi at 15 and IIT-Madras at 18, remained unchanged from their 2016 ranking and continued to feature among the Top 20. IIT Bombay’s overall score is 83.6 out of 100. The institute has a score of 98.1 in academic reputation, 99.7 in employer reputation, 47.8 in faculty student ratio, 96.9 in staff with PhD, 53.6 in citations per paper, 95.4 in papers per faculty, 15.4 in international faculty and 7.6 in international students, all scores out of a maximum of 100. Advanc’edge Mastering Business Acumen December 2017
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Demonetisation 2016: Taking stock after a year The demonetisation initiative by the Government of India in November 2016 came as a surprise. With the note ban in place, the common man faced a lot of difficulties. But how does the situation stand a year later? An analysis.
Dr Suresh Srinivasan
Widely considered as a bold and adventurous move, demonetisation did have a seriously significant impact on the country’s economy and sentiments all through 2017. Demonetisation was a grave issue and such was the impact that the economic growth for the subsequent three quarters had to bear the brunt of the initiative.
Short term impact Short term pain points were quite high. A cash crunch hit the economy as it took a while for new notes with denominations `500 and `2,000 to be introduced. The common man suffered in terms of the currency exchange process, and the overall experience was nightmarish, signalling a significant negative sentiment. The Opposition, the press and social media erupted with their own analyses; a lot of criticism came from non-economists weighing in with their opinion. The issue became a convenient topic for public scrutiny and the verdict being passed was that the government could have planned the process much more proactively. During the crisis period, the usage of plastic money exponentially rose. It was also widely perceived that while demonetisation was painful on one hand, the sudden surge in the usage of credit and debit cards was a blessing in disguise, with more money in the economy being transacted through legal channels.
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xactly a year ago, the Government of India banned rupee notes of 500 and 1,000 denominations. The objective, as officially stated, was to unearth the black money that was being held in the economy, as well as to flush out illegal notes that were being used to fund terrorist groups for anti-national activities.
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Achievements Nine months after the demonetisation, the government announced that the note ban was a success and the entire stock of the banned notes assessed to be floating around in the economy, pegged at around `14 lakh crore, had been deposited back in exchange of new notes. This effectively means that the government now had clearly identified the source relating to such funds and such identities were open for questioning on the legality of such funds, and the status of the payments with respect to the same. On the face of it this, along with the usage of plastic money, is extremely encouraging news and justifies the entire demonetisation saga!
Demonetisation gained credibility when World Bank and IMF gave a thumbs up for the boldness of the Govt. The demonetisation intervention also gained credibility when powerful global agencies like World Bank and International Monetary Fund (IMF) gave a thumbs up for the boldness of the government in implementing the same. Recently, Moody’s, the global rating agency
also upgraded India’s sovereign rating to Baa2, the first upgrade in 14 years. The reasons cited for such an upgrade include the successful launch of vital economic reforms including Goods and Services Tax (GST), schemes to address stressed assets and demonetisation. Moody’s clarified that although there are short term pain points, the economy stands quite well positioned for the longer term!
Workarounds? Negative reports are emerging too. The powerful seem to have indulged in legal conversion of unaccounted cash through various means finding loopholes in the system. The coordination between the Reserve Bank of
India INC: at a glance Swiggy-Zomato merger in the offing? We call it the marriage of the likes. It is being widely reported that food ordering and delivery platform Swiggy is evaluating a potential merger with rival Zomato. Two issues could come in the way for completing the deal, however: business alignment discussions and expected valuations.
HDFC SLI open to acquisition HDFC Standard Life Insurance has announced that it is open to any kind of acquisition, including of Max Life, if the “structural issues” that hampered its earlier deal are resolved. Structural issues that allow for conducive post-merger integration are as important as issues like valuation in an acquisition deal.
Crisil to take over Pragmatix Crisil has stated that it has executed binding agreements to acquire 100% of the equity share capital of Pragmatix Services Private Ltd at a price consideration of around `560 million. Crisil is one of the top corporate rating agency in the country.
Bharti-Tata Teleservices merger
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Bharti Airtel and Tata have announced that they have entered into an understanding to merge the consumer mobile businesses of Tata Teleservices Limited and Tata Telecom with Bharti Airtel. The acquisition is subject to requisite regulatory approvals.
Sprint and T-Mobile call off merger Two large American telecom companies Sprint Corp and T-Mobile US Inc has called off a merger to fight competition through scale. Talks had been going on for several months, but eventually fell through. This leaves Sprint, with a poor financial and operational position, to engineer a turnaround on its own.
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India (RBI) was questioned and there were discussions as to who was calling the shots, RBI or the government. Critics also questioned if demonetisation was an adventurous cover up for the prime minister’s lack of delivering the aggressive promises he made when coming to power including job creation, make in India, digital India and Swachh Bharat. So, there are pros and cons which we cannot ignore. All said, has the full potential of such a clean-up initiative been realised? Are there any lessons that have been learnt? Could the process have been planned better? These are the questions that linger, a year after such an economic shock blew away the country!
Information flow In spite of such a lot of public outcry, the prime minister had stuck to his dictum, and in some sense accepted the shortfalls and the short term blips and pain points. However there could have been some more initiatives to complete the ‘loop’, and inform the common man as to what has been achieved out of this whole intervention. Perhaps a clear message on how this ‘tsunami’ of a reform has panned out? Who are the culprits? How have they been dealt with? What does this hold in the future; how will this minimize shadow transactions and how this can positively impact our economy? It might still be too early for the government to make this pronouncement, and hopefully this will happen soon.
the Income Tax department’s reports that detail the aftermath of demonetisation and the intelligence gained and the tax raids that followed. It seems the government now has clear information on lakhs and lakhs of people who have deposited cash during demonetisation, way beyond their justifiable source of disclosed income. Information now seems to be available on large ‘unaccounted’ cash deposited by businessmen, bullion traders, petrol pump operators and other small and medium sized traders. The government also has unearthed a number of shell companies that have been primarily laundering unaccounted money.
A clear and concise report presented to the public at large, formal or informal, in terms of what was achieved through demonetisation and on the above lines, especially in case of an intervention of such magnitude, could have definitely added value. It is still very surprising as to why this has not been done till now. Is the prime minister holding back some cards to be disclosed closer to the elections? Whatever the case may be, concrete actions nevertheless needs to be taken against the offenders and this is an important piece of information that needs to be shared and percolated in a timely manner. This will is sure to give the public the necessary solace, having encountered the pain points head-on during the initiative. In summary, the fact remains that the government took a controversial stand by implementing one of the riskiest interventions that any government would dare commit to. Granted, there were certain execution flaws, but still the government managed to make significant accomplishments. Of course there can be much that could have been achieved, but the very boldness to have done what they did is commendable. A
money
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The black question
It seems the Govt now has clear information on lakhs and lakhs of people who have deposited cash during demonetisation.
In one sense, the reports in the media provide details and extracts of
Advanc’edge Mastering Business Acumen December 2017
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Paradise Papers leak: A breakdown News recently was abound with the Panama Papers leaks, and the celebrities and companies named in the leaks were from across the world. Why do such leaks occur, what do they plan to achieve? And of course, do these leaks really have any consequences? Dr Suresh Srinivasan
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e often hear about tax havens situated around the world through which global companies route their investment around the world. Back in the early 1990s, Vodafone, for example, entered the Indian telecom business by acquiring shares from the Hong Kong-based Hutchison Group which had invested in India along with Essar. Hutchison’s investment from Hong Kong in India was routed through Cayman Island, and then through Mauritius, to eventually land as investment in India. The purpose of such a complicated structure was to ensure Hutchison’s profit earned in India was most efficiently transferred back to Hong Kong with minimal withholding taxes, across national borders.
What is a tax haven? A tax haven is a jurisdiction, which includes countries or provinces, where there is a favourable tax structure with an objective to attract investors to park their funds. Countries like Switzerland, Luxembourg and the Netherlands are, in certain cases, considered to be tax havens. Jersey and Isle of Man, a part of the United Kingdom, are popular tax havens. Other British overseas territories that are popular tax havens include Bermuda, British Virgin Islands and the Cayman Islands.
Panama Papers Recently, a German newspaper
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Avoiding vs evading
Multinational corporations, large corporate houses and high net worth individuals route investments or park their funds in tax havens in order to legally ‘avoid’ taxes. Avoiding taxes is different from ‘evading’ tax. The latter is illegal, while the former is a means to intelligently reduce or eliminate exposures.
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secured more than a crore files containing classified and undisclosed information from tax haven registries, law companies providing such services to clients, on many such investments. Such confidential information was subsequently leaked through International Consortium of Investigative Journalists which has many partners, including the likes of BBC and the New York Times. The amount of information that has now been brought into the public domain through Paradise leaks is much bigger than the earlier leaks, including the Bahamas Leaks and Offshore
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Leaks of 2013. The Panama leaks, of course, had a larger data size, but it is reported that the relevance of exposure by the Paradise papers is considered to be far more ‘high profile’.
Persons ‘caught in the act’ The nature of leaked information is quite sensitive, and describes such tax avoiding investments of well-known celebrities from close to two hundred countries. Information on Indian personalities is prominent, and it is in the nineteenth position in terms of the number of names released. The list of high profile persons involved include the British queen and her private estate, some members from US President Donald Trump’s cabinet, Russian President Vladimir Putin’s close relatives, large companies like Apple, Twitter, Facebook and global private equity investor Blackstone.
Queen Elizabeth
Karti Chidambaram
Amitabh Bachchan
Niira Radia
Pinarayi Vijayan
Vijay Mallya
The files released also contain information about seven hundred
Indians, including many politicians, company heads and celebrities.
India INC: at a glance SEBI to define control company in merger SEBI is expected to take a final call on the definition of ‘control’ in mergers and acquisitions. This is an extremely important definition that sets out which of the party is eventually running the merged entity and has implications in terms of accounting consolidation issues.
HPCL eyes India’s 2nd-largest oil refiner spot Hindustan Petroleum Corp Ltd (HPCL) is likely to acquire Mangalore Refinery and Petrochemicals (MRPL) to become India’s second-largest oil refiner. The merger is likely to take place after ONGC completes acquisition of HPCL.
PE, Venture Capital skyrocket Private equity and venture capital investments continued to touch record highs, crossing $21.8 billion in 2017 thus far, and surpassing the previous record of $19.8 billion set in 2015, according to data collated by EY.
Infosys wraps up London co acquisition
M&A deals at record high Domestic M&A deals and activities are likely to reach `320,000 crore in 2017, and likely to touch `380,000 crore in 2019. This is as a result of improving business climate and perception primarily driven by the government’s efforts towards easing of doing business.
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IT major Infosys has announced that it has completed the acquisition of the London-based Brilliant Basics, a London-based product design and customer experience (CX) innovator known for its worldclass design thinking-led approach and experience in executing global programs.
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Some of the known names include Amitabh Bachchan, Vijay Mallya, Niira Radia (famous for the Radia tapes during the 2G scam), Sanjay Dutt’s relatives and ministers of the current Union Government in India. Indian names also include information about Kerala chief minister Pinarayi Vijayan and Karti Chidambaram, son of former minister P. Chidambaram.
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Why such a leak?
In the case of Paradise Papers, investigative journalism and more than a year’s efforts of the International Consortium of Investigative Journalists, the news agency that has been gathering such information is the primary source of the leak. The major source of such data on offshore was actually hacks of law firms like Appleby that provides offshore investment advisory services to high profile clients. From the perspective of the offshore investment advisory firm’s perspective, they have clarified that there is no evidence of their having acted contrary to law or illegally, and the data released by the hackers are the general advice that they provide to clients, in the normal course of their business. The fundamental issue here is that the public is not aware of the magnitude of such investments that are stashed around the world, most or all of which have a prime objective of denying tax to the various governments, albeit within legal ambits. Especially since most of these powerful men and women advocate for global cause and its well-being, such information is a paradox. This can possibly be a reason why such investigative journalists are focused on leaking such information.
In the public interest The investigative journalists are of the opinion that their exposé is in the public interest, and the public needs to be aware of such wrongdoings (although tax avoidance is legal) because data leaks have repeatedly exposed wrongdoing. The magnitude of such investments and transactions is mind boggling! If we consider the overall household wealth at a global level, close to 10% of that is stashed away in offshore vehicles.
In the last US elections when Hillary lost, WikiLeaks released sensitive emails suggesting her unethical stand on many issues. This is pegged at around $8 trillion. Annual loss of global revenue, if these were paid as taxes, will translate to around `14 lakh crores, which is more than half of India’s total budgetary spend. More than the financial implications, such funds could be put to illegal use in the form of financing arms, drug rackets and terrorism.
Earlier leaks: Consequences In the past, such leaks play out well in the hands of the respective national regulators and investigative agencies, and provide them with ammunition to initiate proceedings against such individuals if they deem appropriate.
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More than a mere exposé of offshore tax avoidance investments, such leaks bring out many transactions that may be unethical. For example, it is being reported that the Paradise Papers leak has exposed Prince Charles, who seemed to have been campaigning to alter climate-change agreements that were in his interest and in the interest of his private estate. The other example is the Sun TVAircel-Maxis case, which involves high profile ministers from the Indian cabinet, and the courts had recently pronounced its ruling. These are examples of extremely sensitive matters, and when information contrary to what the public is aware is released, more than sensationalisation, these could potentially be a strong weapon in the hands of regulators and investigating agencies. In the last US presidential elections when Hillary Clinton lost to Donald Trump, WikiLeaks released sensitive emails and other documents suggesting her unethical stand on many issues, including her views on her fellow Democratic Party candidate Senator Bernie Sanders. These leaks, allegedly done primarily by Russian hackers, are the main reason for her defeat and that of the Democratic Party. But, looking at the history of such leaks, whether the regulators and tax agencies take ‘suo moto’ concrete actions on such information is debatable. First of all, the authenticity of such information in the first place could be questioned, as it is an outcome of an illegal hacking process! Then, what purpose does it serve? At the most, more than mere sensationalisation, it does highlight the reality to a certain extent, but more importantly provides some tooth to the regulators to go after individuals, if they are serious in doing so! A
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All you need to know about Bitcoin The word Bitcoin is seeing a lot of bandying about, with people across the world sitting up and taking notice, and many others trading in the cryptocurrency. But what is Bitcoin, how did it come about, and where is it headed? Dr Suresh Srinivasan
What is Bitcoin? Bitcoin is a cryptocurrency created in 2009. Being digital in nature with no physical form, Bitcoin is
used as a medium for exchange of goods and services. Generally, the ‘hard’ currencies serve the same purpose, but are generally transacted through a bank that issues such currencies. With Bitcoin, and other cryptocurrencies like Litecoin, Syftcoin, Blackcoin, Ripple, etc, transactions are made with no middlemen, which means banks are not involved. While centralised agencies like banks play the role of issuing and accounting of the currency, Bitcoin and other cryptocurrencies are decentralised using a distributed
ledger. ‘Blockchain’, for instance, is a digital ledger that records and secures every transaction of Bitcoin. By eliminating middlemen like the banks, cryptocurrencies have the advantage of having no transaction fees. Although the transactions made through Bitcoin are recorded, protected and cannot be erased, the identities of the parties involved in the transaction need not be disclosed. While the legality of Bitcoin and other virtual currencies vary from country to country, they are not tied to any specific country, which means cross border transactions become cheap and easy.
How did Bitcoin grow? Trust and enthusiasm are the major binding blocks that are growing the Bitcoin movement. Developers and startups are virtual currency enthusiasts and they are large in number. They are also spending millions in developing the currency emerge. At this point again, trust plays a key role. The currency is recorded in public digital registers like blockchain through ‘mining’, a process by which transactions are verified, added and new units
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B
itcoin has been prominently in the news over the last month. We have heard that the valuation of Bitcoin against the US dollar has been volatile and fluctuating. We also heard about the ‘fork’ and the tussle between various developers and groups in shaping the future of Bitcoin. What does all this mean? How do we make sense of them?
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of the virtual currency released. To a certain extent, it is an open source model that can be accessed by individuals through the Internet and with appropriate hardware. That said, such a model exponentially drives risk in the currency. With every passing day, the number of transactions through these virtual currencies is increasing, and there are a number of Bitcoin Automated Teller Machines (ATM) being installed. Close to 15 million users are already transacting using Bitcoin. Exchanges that trade in Bitcoin have cropped up, and they facilitate buying and selling of the virtual currency. These include Exchanges BTC.sx, CEX.IO, Coinbase, etc. Stored by individuals in ‘digital wallets’, today, one can buy a number of goods and services using Bitcoin! The price of Bitcoin has been steadily increasing since its inception, which demonstrates the acceptability of the cryptocurrency and the extent of its adaption by individuals. In 2012, during the
Lately, Bitcoin has been extremely volatile, moving up to $7,700 and dropping back to $5,600. European crisis, its price started moving upwards north of $200 and after many volatile phases it settled at close to as high as $6,500 a unit by 2017.
Recent developments The last few days have seen Bitcoin being extremely volatile, moving up to $7,700 and dropping back to $5,600. The main reason for such volatility is the divided view of groups of developers of Bitcoin regarding its future. The problem with Bitcoin at this stage is that the transactions using the currency are slow. This hinders the ability to scale
the currency and adoption among users as the volumes of transactions is hampered. A group of developers are hence suggesting that the currency should be split, or ‘forked’, in order to allow transaction speeds to be increased. One section of the Bitcoin developers feels that Bitcoin would be used for ‘day to day’ transactions, in which case it needs to have high transaction speeds, especially as its adoption among users increases. Other groups are divided on this view, and feel Bitcoin should be used for high value and large transactions only, where transaction speeds may not be, and should not be, relevant. Earlier during August 2017, Bitcoin was split, and a new competing currency called ‘Bitcoin cash’ was created. The block size of Bitcoin is around one megabyte, which means that transactions are relatively slow. The block size of Bitcoin cash increased the block size to eight megabytes, thereby increasing the transaction speed.
India INC: at a glance India’s annual diesel consumption could rise to 150 billion litres by 2030 India’s annual diesel consumption could increase to 150 billion litres by 2030 from 90 billion litres now, Oil Minister Dharmendra Pradhan has said. Annual gasoline consumption in the world’s third-biggest oil consuming nation could rise to 50 billion litres by 2030 from 30 billion litres now, he said. The energy hungry nation, which is looking to cut its oil imports by 10% in 2022, aims to boost use of bio fuels, the minister said.India currently imports about 80% of its oil needs.
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Flight tickets likely to increase as govt may raise passenger services fee
Flight prices will increase as government is likely to raise the passenger services fee (PSF) by at least 38% to meet the cost of security at Indian airports. The government, which earlier had plans to not raise PSF and transfer the cost to consolidated fund of India (CFI), will now have to raise it, after the finance ministry declined to fund the deficit. “The finance ministry has agreed to transfer the cost to CFI but only if it is revenue-neutral for them, which would mean we will have to raise PSF. “We estimate that the raise could be in the range of `50 per ticket, which would not just help bridge the annual fund gap but also the deficit accumulated over the years,” said a senior aviation ministry official, who did not want to be identified.”
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There is a raging battle playing out within the Bitcoin developer community with competing groups having divergent perspectives, vision and future outlook for Bitcoin. Different developer groups are attempting to gain control over the future evolution of the currency. ‘Bitcoin Gold’, an alternate competing digital currency — another spin-off like Bitcoin cash — is intended to be a storage of value and is also being actively considered. For example, the proponents of Bitcoin Gold are forcing the usage of a mining algorithm different from regular Bitcoin’s, such that traditional computing machines would not be able to access or mine; these require specialised hardware, interlard circuit board and algorithms to mine!
Bitcoin current growth scenario There are a number of other initiatives that are being undertaken to reduce the space constraint and allow Bitcoin to expand faster. ‘Lightning Network’ is one such initiative, which is expected to take Bitcoin to a larger number of users, where the transaction contents are minimised. At the same time,
Bitcoin startups, including Zebpay and Unocoin, are creating a forum for the orderly and transparent growth in the Indian market. the transaction trails are robustly captured without compromising on the security of the transaction. However, the traditional Bitcoin developers are looking at Bitcoin emerging as a ‘digital gold’, a reservoir of value in events of global uncertainty. These developers consider ‘transaction speed’ and ‘process time limitations’ as irrelevant. This is contrary to the views of the pro-‘Bitcoin cash’ group of developers, who would want to position the virtual currency as a mass market digital currency.
Bitcoin and countries There are other issues with the emergence of Bitcoin. Being anonymous, it could be seen as
The Reserve Bank of India regards cryptocurrencies as a violation of the country’s existing foreign exchange norms.
an extremely suitable medium to finance the Dark Web, as well as terrorism related transactions. This is why many governments, regulators and central banks are extremely concerned. Many countries, for example the United States (US), don’t even recognise Bitcoin as a currency at this stage, but deal with it more like an ‘asset’; which means it would be subject to capital gains. From an Indian perspective, at present, the Reserve Bank of India regards cryptocurrencies as a violation of the country’s existing foreign exchange norms, as they perceive virtual currency transactions to be highly unsafe and vulnerable to cyberattacks. However, the RBI, although not comfortable at this stage, is seriously looking at the developments with Bitcoin and other virtual currencies in order to be proactive and ready, if the situations becomes conducive for adaption in the future. Such limitations also do not stop Indian Bitcoin startups from working towards growing the digital currency. In India, a number of Bitcoin startups, including Zebpay and Unocoin, are creating a forum for the orderly and transparent growth of Bitcoin in the Indian market. The primary idea is to develop the rules of the game for trading in Bitcoins in an orderly fashion and ensuring anti-money laundering protections and generating reports on Bitcoin users with suspicious transactions. A Dr Suresh Srinivasan is a Chartered Accountant, has an MBA (Bradford UK) and a Doctorate in Strategy. He is the Director of the 2-year PGDM at Great Lakes Institute of Management, as well as a Sr. Associate Professor. He is also a management consultant.
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Bitcoin and alternatives
ANDHRAHOUR STUDY PRADESH
Are you a Brainiac?
In this section, we shall explore several different types of questions from the various areas of entrance exams like the CAT, CET, GMAT, etc, and how to best solve them.
Quant Q.1. Two athletes run on two concentric circular tracks separated by 4 m. Their speeds are in the ratio 4 : 7. They take the same time to complete one round on their respective tracks. If they interchange the tracks, the slower athlete takes 1 minute 30 seconds to complete one round on the track. Find the speed of the faster athlete. 1] 9.7 m/s 2] 1.71 m/s 3] 1.14 m/s 4] 2.4 m/s 5] Cannot be determined
Exp: Let the radius of the inner circular track be ‘r’ m. \ (r + 4) m is the radius of the outer circular track. Ratio of speeds of the athletes is 4 : 7. Since they both complete one round on their respective tracks in the same time, the slower athlete must be on the inner track and the faster athlete on the outer track.
And
=
r=
m
The slower athlete takes 90 seconds to cover m Let S m/s be the speed of the slower athlete, then
90 =
S=
\ Speed of the other athlete = ×
1.14
m/s. Hence, [3].
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Q.2. 130 packets have to be filled with candies such that number of candies in a packet vary from 125 to 148. All these packets are then packed into boxes such that a box contains maximum possible number of packets each containing a different number of candies. Find the minimum number of packets containing equal number of candies. 1] 5 2]6 3]10 4] 15 5] Cannot be determined
Exp: Packets in a box will have 125, 126, 127, ......, 148 candies i.e., in a box there are 24 packets.
Since there are 130 packets, boxes can be packed.
= 5+
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, 5 such
After this we will have 10 packets left in which we can put any number of candies varying from 125 to 148. Thus, the minimum number of packets which will have equal number of candies is 5. Hence, [1].
6. In a group of 13 persons, 6 are vegetarians and remaining are non-vegetarians. There are 6 Biharis and the remaining 7 are Gujaratis, of whom 4 are vegetarians. Find the number of ways in which they can be seated in a row so that no two non-vegetarians occupy the adjoining seats though all the Gujaratis are always sitting together. 1]
4] 4!4!3!2!
2] 3(4!3!2!4!) 5]
3]
Exp: Since, no two non-vegetarians are sitting together, the 13 persons can be arranged as NVNVNVNVNVNVN where N represents non-vegetarians and V, vegetarians.
As the Gujaratis always sit together, they can be as N V N V N V N V N V N V N 1 2 3 4 5 6 7 8 9 10 11 12 13 (a) G G G G G G G (b) G G G G G G G (c) G G G G G G G
In each case, (a), (b) and (c), the Gujaratis can be placed in 4! × 3! ways while the Biharis can be placed in 2! × 4! ways. Hence, the total number of ways = 3(4! × 3! × 2! × 4!). Hence, [2].
HSEDAR STUDY RUPOHARYH HOUR DDUNTAS
Verbal
Q.1. 1. He dropped pebbles into a trough of water and discovered that the splash has an unexpected complexity and beauty with a surprising degree of symmetry and order. 2. His sequences of photos appear to represent a series of successive snapshots taken during the course of a single splash, but in fact they were taken during different splashes. 3. A splash, he found, erupts into a corona with a rim that breaks up into a series of spikes, each of them releasing micro-droplets of their own. 4. In the 1870s, the British physicist Arthur Worthington used high-speed photography to capture the hidden beauty of splashes. Q.2. 1. Many alchemists believed that all matter was a mixture of four elementary substances: water, air, earth and fire. 2. The transmutation of the elements was pursued in medieval laboratories in a quest called alchemy. 3. The defining objectives of alchemy included the creation of the fabled philosopher’s stone, which among other things, could create an elixir of life conferring youth and longevity. 4. By altering the relative proportions of earth and fire, say, you would be able, they thought, to change copper into gold. DIRECTIONS for questions 3: The sentences given in each question, when properly sequenced, form a coherent paragraph. Each sentence is labelled with a letter. Choose the most logical order of sentences, from among the given choices, to construct a coherent paragraph. Q.3. A. Relativity may not be as ubiquitous in the everyday world. B. Between them the two explain virtually everything about the world and about us. C. Nevertheless, it has taught us that there are things called black holes from which nothing, not even light, can escape; that the Universe
has not existed forever but was born in a titanic explosion called the Big Bang; and that time machines – remarkably – may be possible. D. The two towering achievements of the past 100 years are quantum theory, our picture of atoms and their constituents, and Einstein’s general theory of relativity, our picture of space, time and gravity. E. In fact, it can be argued that quantum theory has actually created the modern world, not only explaining why the ground beneath our feet is solid and why the Sun shines but also making possible computers and lasers and nuclear reactors.
1] ACEDB 2] DBEAC 3] DECAB 4] DACBE
Answers: 1. Statement [4] introduces the topic, i.e. the photographs of splashes taken by Arthur Worthington, and the beauty of the splashes themselves. Statements [1] and [3] continue the topic of the beauty of the splashes. But [2], which talks of his photography technique, doesn’t quite fit in with the rest of the sequence. Hence, [2].
2. Statement [2] introduces the topic of alchemy, especially that aspect of it concerning the elementary make-up of matter and how it could be changed. [1] and [4] both continue the idea of what matter was made of, and how alchemists sought to change it. But [3] does not fit into the sequence, as it discusses a different point: the other goal of alchemy, i.e. creating the philosopher’s stone. Hence, [3].
3. The paragraph is about both quantum theory and relativity. So D, which introduces both, is a better opening sentence than A, which mentions only relativity. This rules out [1]. The ‘nevertheless’ in C can follow only A: since it’s a positive sentence, it must contradict a negative one, and A is the only sentence with a negative connotation. Thus we have an AC link, which rules out [3]. The comparison in A means that this sentence must follow E: E talks about the importance of quantum theory, while A talks about how relativity is not as ubiquitous. Thus we can rule out [4], which leaves us with [2] – DBEAC – as the correct answer. Hence, [2]. Advanc’edge Mastering Business Acumen December 2017
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DIRECTIONS for questions 1 and 2: Each question has four sentences pertaining to a subject, which may or may not be in sequence. One of the sentences is contextually/logically incorrect. Choose the option corresponding to the sentence that is incorrect or inappropriate.
ANDHRAHOUR STUDY PRADESH
WORD DOSE
The polite welcome The light and warmth and the Count’s courteous welcome seemed to have dissipated all my doubts and fears. Having then reached my normal state, I discovered that I was half famished with hunger. So making a hasty toilet, I went into the other room. I found supper already laid out. My host, who stood on one side of the great fireplace, leaning against the stonework, made a graceful wave of his hand to the table, and said, ‘I pray you, be seated and sup how you please. You will I trust, excuse me that I do not join you, but I have dined already, and I do not sup.’ I handed to him the sealed letter which Mr. Hawkins had entrusted to me. He opened it and read it gravely. Then, with a charming smile, he handed it to me to read. One passage of it, at least, gave me a thrill of pleasure. ‘I must regret that an attack of gout, from which malady I am a constant sufferer, forbids absolutely any travelling on my part for some time to come. But I am happy to say I can send a sufficient substitute, one in whom I have every possible confidence.” Excerpt from Bram Stoker’s Dracula
MAT CH T HE W OR D S W IT H T H E IR M EA NING S 6. Leaning – lee-ning – verb –
11. Thrill – thrill – noun –
7. Graceful – greys-fuh l adjective –
12. Gout – gout – noun –
8. Sealed – seal d – verb –
13. Malady – mal-uh-dee – noun –
3. Doubts – douts – noun –
9. Gravely – greyv-lee – adverb –
4. Famished – fam-isht – adjective –
10. Charming – chahr-ming – adjective –
14. Substitute – suhb-sti-toot – noun –
1. Courteous – kur-tee-uh s – adjective – 2. Dissipated – dis-uh-pey-tid d – verb –
5. Hasty – hey-stee – adjective – a. Extremely hungry. b. Spruce up quickly. Clean up oneself quickly.
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c. Having or showing grace or elegance.
d. (With reference to a feeling or emotion) disappear or cause to disappear. e. Fasten or close securely with a piece of wax, lead, or other material with an individual
design stamped into it, attached to a document as a guarantee of authenticity. f. Feelings of uncertainty or lack of conviction. g. Very pleasant or attractive. h. A disease in which defective metabolism of uric acid causes arthritis, especially in the smaller bones of the feet, deposition of chalk-stones, and episodes of acute pain.
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i. A disease or ailment. j. A sudden feeling of excitement and pleasure. k. A person or thing acting or serving in place of another. l. To incline, as in a particular direction; slant. m. Polite, respectful, or considerate in manner. n. In a serious or solemn manner.
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HSEDAR STUDY RUPOHARYH HOUR DDUNTAS
December 2017
Advanc’edge Mastering Business Acumen December 2017
ANDHRAHOUR STUDY PRADESH
A quiz to boost your General Knowledge 1. What are the names of the Indian origin couple who have won the 2017 IHV Lifetime Achievement Award for AIDS research? a. Shikha Chawla and Nitin Chawla b. Saba Karim and Anna Karim c. Naren Prabhu and Kirti Singh d. Salim Abdool Karim and Quarraisha Abdool Karim
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2. The 2017 Vigilance Awareness Week (VAW) was observed by the Central Vigilance Commission (CVC) from October 30th to November 4th, 2017. What was the theme for the week? a. Vision to promote Corruption Free India b. My Vision-Corruption Free India c. Preventive Vigilance as a tool of Good Governance d. Public participation to promote integrity
5. Name the country that hosted the 2017 global conference on consumer protection on October 26? a. China b. South Korea c. Bangladesh d. India 6. India has signed a loan agreement with Asian Development Bank (ADB) to support coastal protection in Karnataka. How much was the loan amount? a. $75.5 million b. $65.5 million c. $55.5 million d. $75.5 million 7. Name the country that has become the first in the world to leave International Criminal Court (ICC). a. Botswana b. South Africa c. Burundi d. Gambia
3. What is India’s passport position in the Global Passport Power Rank 2017, as per global financial advisory firm Arton Capital? a. 75th b. 76th c. 77th d. 78th
8. Name country that will be hosting 2018 Asian Cricket Council Emerging Nations Cup in April next year. a. Sri Lanka b. Nepal c. Pakistan d. India
4. Recently, a famous singer of Seniya and Banaras Gharana passed away at the age of 88. What is her name? a. Girija Devi b. Begum Akhtar c. Kishori Amonkar d. Vasundhara Komkali
9. Name the Bollywood personality who has been bestowed with the 2017 PHDCCI Lifetime Achievement Award for her contribution in the world of cinema. a. Dilip Kumar b. Amitabh Bachchan
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c. Dharmendra d. Sharmila Tagore 10. The Akan Mashu National Park (AMNP) covers an area of 90,481 hectares and is famous for its crystal clear lakes, its hot springs and its large marimo. Name the country in the world where this national park is situated. a. Japan b. South Africa c. Australia d. South Korea 11. Name the country that won the Miss World contest in 2017. a. Venezuela b. China c. India d. United States of America 12. Name the noted personality, who has been selected for Kerala’s top literary award “Ezhuthachan Puraskaram-2017”. a. Puthussery Ramachandran b. Vishnu Narayanan Namboothiri c. K Satchidanandan d. C Radhakrishnan 13. This famous personality was honoured Lifetime Achievement Award 2017 by Tata Literature Live! at the literature festival’s annual awards ceremony on November 19 at the National Centre for the Performing Arts (NCPA), Nariman Point, Mumbai. The event was held from November 16-19. Name the personality. a. Girish Karnad b. MT Vasudevan Nair c. VS Naipaul d. Amitav Ghosh
HSEDAR STUDY RUPOHARYH HOUR DDUNTAS
15. Who has been appointed as the new US Ambassador to India, on November 3, 2017? a. Mark Warner b. David Friedman c. Kenneth Juster d. Richard Verma 16. This temple has won the UNESCO Asia Pacific Award of Merit 2017 for cultural heritage conservation. This temple won the award for the use of traditional methods in renovating its structures and re-establishment of rainwater harvesting and historic drainage system, and to augment water and prevent flooding. Which is this temple we are talking about? a. Sri Ranganathaswamy Temple b. Kamakhya Temple c. Ramanathaswamy Temple d. Konark Sun Temple 17. The 2017 World Youth Forum had been held on November 4, 2017. The 5-day forum had been inaugurated by the President of Egypt Mr Abdel Fattah el-Sisi. Which country had organised this Forum? a. India b. Egypt c. Malaysia d. South Africa 18. A theme based India-Nepal Folk Crafts Festival had been organised on November 7, 2017. The 5-day festival had been organised by South Asia Foundation (SAF) in association with Council of Handicrafts Development Corporations
(COHANDS), Embassy of India in Kathmandu, Embassy of Nepal in New Delhi and BP Koirala IndiaNepal Foundation. The Ministry of Textiles, Government of India (GoI), sponsored the event. The basic objective of the festival was to promote bilateral relations through crafts and strengthen the relationship between artisans of India and Nepal. Around 50 artisans showcased their crafts during the event. Which city organised the festival? a. New Delhi b. Mumbai c. Dharan d. Kathmandu 19. Where is the International Consortium of Investigative Journalists (ICIJ) headquartered? a. Geneva b. Washington DC c. Paris d. Berlin 20. The Indo-Bangladesh joint military exercise “Sampriti-7” was a 13-day event that was held on November 6, 2017. The purpose of the exercise was to enhance interoperability between the two nations and enrich from each other’s experience while carrying out counter-insurgency or counterterrorism operations. What are the two states where this event was held? a. Meghalaya and Mizoram b. Tripura and West Bengal c. Assam and Odisha d. Nagaland and Arunachal Pradesh 21. In which category did Mary Kom win gold medal at the 2017 Asian women’s Boxing Championships? a. 45 kg category b. 48 kg category c. 52 kg category d. 55 kg category
22. The third edition of international film festival “Russian Film Days” had been held on November 10, 2017 with a special tribute to Raj Kapoor. It was an initiative to strengthen the Indo-Russian relationship through cinematic and cultural exchange. Which city of India organised this festival? a. Kolkata b. Goa c. Mumbai d. Delhi 23. K Chandrashekar Rao, the Chief Minister of Telangana, has declared this language as the state’s second official language. What is this language? a. Hindi b. Urdu c. Tamil d. English 24. Audrey Azoulay has been appointed as the new chief of UNESCO. What is her nationality? a. German b. Italian c. French d. British 25. President Ramnath Kovind has launched JOHAR scheme to double the income of rural poor. In which state of India was this scheme introduced? a. Jharkhand b. Karnataka c. Himachal Pradesh d. Meghalaya 26. Name the person who represented India at ‘UN Peacekeeping Defence Ministerial: Vancouver 2017’. a. Rituraj Singh b. Subhash Bhamre c. Dharamveer Prajapati d. Neelam Reddy
Advanc’edge Mastering Business Acumen December 2017
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14. Name the writer of the book Dreamnation: Uniting a Country with Handwritten Dreams. a. Y.S. Rajan b. Srijan Pal Singh c. Subroto Bagchi d. Saji Mathew
ANDHRAHOUR STUDY PRADESH 27. Name the country in the world that has recently declared Yoga as sports activity. a. Saudi Arabia b. Iran c. Israel d. Turkmenistan 28. Which is the India’s longest expressway that will soon provide free Wi-Fi services along its length? a. Chennai Bypass b. Ahmedabad Vadodara Expressway c. Agra to Lucknow Expressway d. Yamuna Expressway 29. Name the Bollywood celebrity who was honoured with Personality of the Year Award at the IFFI 2017. a. Priyanka Chopra b. Amitabh Bachchan c. Rajinikanth d. Shahrukh Khan
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30. The government of this state has signed an MoU with the Patanjali group with an aim to set up a ‘Food Park’. The Patanjali Group will set up a large food park with units for processing edible oil, fruit pulp and spices. Which state government are we talking about? a. Telangana b. Gujarat c. Maharashtra d. Andhra Pradesh
31. Former Wimbledon champion Jana Novotna passed away on recently at the age of 49. She had been battling cancer for several years. What was her nationality? a. Russian b. American c. Czech Republican d. Australian
How to Play Fill in the grid so that every horizontal row, every vertical column and every 3x3 box contains the digits 1-9, without repeating the numbers in the same row, column or box. You can’t change the digits already given in the grid. Every puzzle has one solution. Hint: Don’t fill in numbers at random. While filling a particular square, write numbers 1-9 on a pad and start eliminating those numbers that already appear in the same row, column or 3x3 box.
Answers GLOBESCAN
SuDoKu
1.d 2.b 3.a 4.a 5.d 6.b 7.c 8.c 9.d 10.a 11.c 12.c. 13.a 14.d 15.c 16.a 17.b 18.d 19.b 20.a 21.b 22.d 23.b 24.c 25.a 26.b 27.a 28.c 29.b 30.a 31.c
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1.m 2.d 3.f 4.a 5.b
WORD DOSE
Advanc’edge Mastering Business Acumen December 2017
6.l 7.c 8.e 9.n 10.g 11.j 12.h 13.i 14.k