Ambassador Cars: 5 Management Lessons

No, I am no car freak. Nor do I have too much interest in cars. But may be, the demise of the Ambassador Car is a reason good enough to write something on it. So let us take a look at 5 management lessons that the Ambassador cars taught us:

1. Understand what the customer wants
   Every organisation needs to understand what the customer wants. In case of Ambassador, customers did not want a heavy, antique car, where seats resembled a sofa set.
2. Don't wait for the competition to eat away your market share
   Better, cannibalize your products with newer ones. We see that happening across industry segments - from cellular phones to cars. Newer products and variants are being launched at an unprecedented rate to save the market share.
3. Change with the times
   How often have we heard the cliche that "change is the only constant". If only Hindustan Motors had understood this, and made changes to the designs and features of the car, in all probability this article wouldn't have been written.
4. It is indeed sometimes too late to start
   Well, since childhood we have been taught that it's never too late to start. False.  Sometimes organisations wait for so long to bring about change or start something new that it is indeed too late. Hindustan Motors was too late in hiring new designers, new management, etc. May be, it is safer to stick to the saying, "A stitch in time saves nine". 
5. Accept that you have lost the war.For the past several years, market share had been declining and losses mounting. Several steps were taken, but none brought about any significant improvements, and the situation deteriorated even more. How tough it may be, one needs to face the reality and accept defeat so that more resources are not wasted fighting a lost war.

However, all said and done, it cannot be denied that Ambassador was once indeed one of the most loved vehicles in India. The white government vehicles with red beacons and yellow taxis used to stand apart and instill a sense of pride. And surely, The City of Joy would never have had the same charm without Ambassador cars...

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Interviews and Group Discussions: Things to keep in mind

Hello friends! In this post I have tried to point out some things that we need to keep in mind during interviews and Group Discussions.

Interviews

1.      In the “introduce yourself” question:

o   Give a brief overview and put forth points that interest the interviewers so that they come back to those points in the interview

o   Do not over emphasize on any one aspect like work, school, etc.

o   It’s now a trend to start off with the meaning of your name, place description, etc. Do this only if absolutely relevant and necessary

2.      Listen to and understand the question before answering

o   E.g. Facts about Indian Economy versus your opinion about Indian Economy

3.      Avoid using verbal fillers. How?

o   By practicing the answers

o   By keeping sentences short

o   By thinking before answering, and

o   Giving pauses instead of fillers

4.      Avoid using “I also” and “I think” repeatedly, especially during the introduce yourself question

5.      Do not jump to the answer immediately

o   Pause and think for a few seconds before answering

o   There is no harm in asking the interviewer some time to answer the question (depending on difficulty, technicality, etc)

6.      If there is a question that you don’t know the answer of

o   Do not beat around the bush 

o   Accept the fact and say that you will try to find about it

7.      Maintain eye contact with the panelists, but ensure that it does not seem that you are staring at them!

8.      Do not get aggressive when your views are being challenged in the interview

9.      Do not use facts and figures until and unless you are absolutely sure of the figures

10.   Use short sentences

11.   Last, but not the least, be confident!

Group Discussions

1.     Use the time given before the discussion productively

•  Make a note of important points
•   Avoid writing full sentences
•  Do not peep into your neighbour’s notebook!

2.     State facts and figures wherever possible

3.     Try to introduce or conclude, but only when you have enough matter and a good understanding of the topic

4.     Do not be aggressive

5.     Maintain a good body language: Avoid leaning too much or making too many hand movements

Hope the readers found the post useful.

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MBA interview Questions

Hello friends! Hope you all are doing well. Here I have prepared a list of questions that were asked to me in the interviews of institutes like IMT, NMIMS, IFMR, etc. I have not put in questions like Tell us about your background, why MBA, etc because these are questions that typically all of us prepare well in advance!

1.      Which Indian has scored triple century in tests and how many times?

2.      Name the Australians who have scored triple centuries.

3.      Who was the first batsman to be given out by a third umpire?

4.      What is the difference between direct tax and indirect tax?

5.      Give one example each of direct and indirect tax other than income tax and sales tax.

6.      Name two books that you have read recently and summarise them in one sentence.

7.      Who is the party president of Samajwadi Party?

8.      What is REPO rate?

9.      What is the difference between REPO rate and Bank Rate?

10.   What is arbitrage?

11.   What is Return on Investment?

12.   What is Internal Rate of Return?

13.   Explain the 2008 recession.

14.   What is the Euro crisis?

15.   What is debt securitisation?

16.   What is your opinion in the railway fair hike?

17.   Why is loss shown on the asset side of the balance sheet?

18.   What is public debt?

19.   Name two foreign organisations from which the government of India borrows.

20.   What is the controversy regarding Rajat Gupta?

21.   Why is the controversy that Iraq is currently involved in?

22.   What two immediate steps would you take if you would become the mayor of Delhi?

I hope that the readers found this post useful. All the best!