CREST- Nov 2010

CRESCENT, The Committee for Research, Strategy, Consulting and Entrepreneurship brings to you the November Edition of CREST, our e-magazine.

Check out the articles in this edition.

• Cover Story: Role of Research in Management
• Understanding Moment Of Truth
• Role of Channel Finance in Business Strategy
• Managing Working Capital in the most effective Way
• Doing Business in Emerging Markets
• What CRESCENT’s been upto!

Congratulations Winners of Writing Spree

We are pleased to announce the results of the Writing Spree Contest  held for the e- magazine CREST. Out of the 43 entries we received in the three categories, the 2 entries that have been adjudged as winners are:

1. Maneesh Dhooper (XLRI) for his article on 'The Facebook Strategy to woo users' ; and,

2. Mahim Mongia (SIBM) for his article on 'The Mckinsey Strategy to stay at the top' 

Congratulations to the winners! The winners can reply to the crescent id for information about cash prizes.

We would be publishing the top entry from each of the three categories declared for the competition. The entries which we would be publishing in the forthcoming issue of CREST are:

1.   'The Facebook Strategy to woo users' written by Maneesh Dhooper (XLRI),

2.  'The Mckinsey Strategy to stay at the top' written by Mahim Monga (SIBM); and,

3.  'The role of research in management' written by Asif Nazar (IMI)

We would like to thank you all for your participation in this event.

The Deadly Sins of Social Media

With the results of 'Writing Spree' just around the corner, we thought we would give our readers something to chew on while keeping in mind the topics they had to write on. No doubt, Social Media is certainly 'a la mode' but it can blow up in your face. With an increasing number of CEO's owning Twitter accounts and  a page for all and sundry on Facebook, facts become malleable and confused with opinions. So while you're all set to reap the benefits of Social Media, you might want to take a look at the  Deadly Sins of Social Media. So next time you 'like' something on facebook, remember you're a part of a wildfire which will be better remembered for the mayhem it causes.

Worst Social Media Controversies

Writing Spree... Thanks!

Greetings from CRESCENT!!



We are dazed by your enthusiastic response to 'Writing Spree' and you can expect the results shortly!
We thank the following B-schools for their spirited participation in this competition and we eagerly look forward to more interactions with you.

• BIM-Trichy
• IIFT
• IIM-A
• IIM-C
• IIM-K
• IIM-I
• IIT-Delhi
• IMI
• IMT-Ghaziabad
• IMT- Nagpur
• K. J Somaiya Insitute of Management Studies and Research
• MDI
• NIILM
• NIT- Trichy
• NITIE
• RGIIM-Shillong
• SIBM-Pune
• SIMS
• SJMSOM
• SPJIMR
• TISS  
• XIMB
• XIME   

Indeed, we at CRESCENT, XLRI are proud to have played host to all the participants.
Keep watching this space for results and more!

History's Most Successful Businessmen

Even though we've been bombarded ad nauseum with tips on entrepreneurial success, get rich-quick formulas, we practically revere in those gods who actually made it and how. This read is about the top 10 successful businessmen who not only made their dreams come true but  changed the course of history and charted new territories where none dared to go.

History's Most Successful Businessmen.

Guess Who's Who!

Writing Spree!

CREST the e-magazine of Crescent presents- Writing Spree!  

Facebook time! Yes, you heard it right. Get on Facebook, analyse what keeps you hooked onto it, in short, analyse its strategy as a social marketing site to woo users and maybe you could win yourself an exciting cash prize. 

Facebook not your thing?  Then how about an insightful look into the research aspect of management, why is it so important, especially in today’s environment which keeps changing at a breakneck pace?

Think you belong at the top? Then figure out what makes the company which tops almost all ratings -Mckinsey, tick. What is the elusive secret of the company who knows how to stay at the top? Give us your take.

This is your chance to have your say. Write an article of 1500 words on any of the above and get a chance to have your article published in CREST. 

Hurry! Choose your topic and get those creative juices flowing. 


Points for originality, creativity and content. 

Words are your bullets. Think. Write. Strike.

Two best entries will receive cash prize of Rs 1000 each.

Send all entries to crescent@xlri.ac.in Deadline: 29th September 2010

The A-Z of Consulting Interviews

How many autorickshaws ply in Delhi everyday?
How much do the Rajasthan Royals earn each year?
How much does the Empire State Building weigh?
How many petrol pumps are there in Jamshedpur?

To find-or speculate- about the answers to all these questions, and much more, check out the links to a few good consulting case books mentioned below. A must-read for all consulting enthusiasts, these case books will guide you on the A-Z of consulting interviews, ranging from typical frameworks that might come handy, to common case types (guesstimates, profit maximization cases, etc.), to useful tips and conversion ratios.  Happy reading!

Tuck Consulting Case Guide: http://www.ruf.rice.edu/~jgsmcc/1999-2000_Tuck_Guide_To_Case_Interviews.pdf

Kellogg Casepack : http://www.kellogg.northwestern.edu/student/club/consulting/File%20Downloads/cases/Kellogg_casepack2001_CASES.pdf

Columbia Business School Guidebook : http://www.kellogg.northwestern.edu/student/club/consulting/File%20Downloads/cases/2002%20CBS%20Casebook.pdf

AT Kearney Consulting Case Book: http://www.atkearney.com/images/global/pdf/interview_casebook_S.pdf

6 Consulting Fields To Get Into Now

Investopedia in an recent article (August 9, 2010) suggested six best fields to get a consulting job.

Computer and Information SystemsIf you're wondering where to find job growth in the future, look no further than IT - especially in the field of computer software engineering. If you're already experienced in this industry and want to consult, look at specializing in areas like cyber security, networking, troubleshooting, banking and finance. If you're looking for a new career, this industry may be a good place to start: many consulting jobs require just certification and the skills to do the job.

Human ResourcesOften seen as a soft sector when it comes to jobs, human resources is the place to be for consultants. Look for consulting positions within a corporate structure, advising on ways to improve anything from hiring policies to record keeping. With a more fluid job market, you'll also find good HR consulting opportunities in recruitment services (like temp services) or headhunting. An undergraduate degree is expected to be successful in HR consulting.

ManagementIt's not easy to run a corporation. Management consultants comprise the largest part of the consulting industry in general but expect the competition to be stiff in this sector. To be successful as a management consultant, a graduate degree (like an MBA) and a good sense of sales and marketing are key. 

Environmental and ConservationEnergy is a hot commodity and so are jobs in the field of conservation of the environment. A large portion of work is in the government sector, but consulting jobs will increase in the private sector as regulation and cost savings will force corporations to improve waste management and other practices that have an environmental impact. Consulting makes up 21% of the environmental engineering sector - a great place to be if this is your niche. 

AccountingIf you know your way around financial statements, consulting is a great career move. With increased regulation, accountants and auditors will be in high demand. For increased success as a consultant, consider specializing in forensic accounting, accounting software or international finance law, and continuing your education to a Masters degree if you don't have one already. CPA licensing is a plus.

Sales, Marketing and Public RelationsDo you have a nose for sales or marketing? Consulting may just be for you - though expect the competition to be fierce in all sales and marketing consulting branches. For success as a consultant, look at specializing in areas like international business or internet marketing utilization. 

The Bottom LineThis is just the tip of the consulting iceberg; if you're an expert in your field, no matter what it is, you can be a consultant. With corporate outsourcing and cost cutting measures being made across the board, you may find that your old job is now being performed by a consultant. Look for new career paths in consulting, like as a personal trainer, image consultant, or graphic designer. 

If you're unsure about consulting as a career path, consider this: consultants make on average 50% more than their employee counterparts. If you use your connections, plan your consulting business carefully and take the leap, you may find you're blazing a great, profitable new career path.

Japanese Puzzle

Hi guys, 

A very interesting puzzle from Japan.

Leave your answers as comments, and if you want the solution please leave your email ID.

Rules as follow:

This is a new take on the familiar puzzle of crossing the river with a chicken, a fox and a bag of grain – but harder!

The test comes from Japan where it is used as an IQ test for jobs and university entrance, mainly related to IT. It should take you less than 15 minutes to complete:

The rules are as follows:
Aim - Get everyone - Father, Mother, 2 Boys, 2 Girls, Policeman and the red haired arrested girl in striped uniform to the other end of the river. You have the boat to ferry them across and the conditions are as follow:

1.  Only two people can travel at once

2.  Dad can not stay with the girls without the presence of the mother

3. Mum can’t stay with the boys without the presence of the father

4. The arrested red-hair girl in stripy outfit cannot stay with any of the family members, unless accompanied by the police officer.

5. Only the Police officer and the parents can drive the boat across the river

Click on the people you want to transport
To use the boat click on the red dots next to the boat

Press the large blue button to start. 

At any point you can right click and press 'Rewind' to restart. 

A Simple Strategic Framework

Many who read the blog title may opine that the phrases "Simple" and "Strategic Framework" do not go together!

However, H. James Wilson proposes exactly such a framework. While admitting that traditional strategic frameworks are rarely helpful to front-line practitioners, he draws upon a simple concept from his personal life as a trainer and racer in triathlons.

Wilson found that triathlon racers can be segmented into three categories based on which position they finish in. Those finishing middle or last seem to have just one goal - to somehow get into the segment which finishes first, i.e. move in that direction from one race to the next. Based on this concept, he asked three questions to several firms to assess where they were, and whether they were moving in the right direction.

You can read about his findings at the HBR Blogs. A rather short and simple read, this.

Wizard of Oddz

CRESCENT presents "Wizard of Oddz  - a multi round strategy based fun game."
Event open for the BM & IR guys of the junior batch.
Register in teams of 6.
Registration open only for the first six teams. Hurry up !!!

Have Breakfast... Or... Be Breakfast!

The title of this post is a perspective on competition given by the boss of an IT company.

In this classic article from The Wall Street Journal, Dr. Y.L.R. Moorthi elaborates on how one should not be myopic while considering the competitors of one's business.

The examples he gives drive home the point beautifully. So 'nuff said... Just read it here!

CREST July-August 2010

CREST, the e-magazine by CRESCENT is out with its July-August 2010 issue!

In this issue you will find...

-Unlocking Social Network Potential: How Farmville is capitalizing on Social Media Marketing

-Entrepreneurial Experiences: A chat with Dr. Amitabh Saran, Co-Founder of Buzzintown.com

-Start-Up Your Career: The pros and cons of beginning your career at a start-up

-Research for Better Management: The perspective of a doctorate student

-Campus Reporter: What CRESCENT's been upto!

You can find the entire issue here: CREST July-August 2010

Santosh Ostwal's "Jugaad"

The Economist this month talks of Jugaad, a term which Indian often use. It defines the term as "an inspired kind of duct-taped ingenuity that employs only the tools at hand."

The term is used in context with Santosh Ostwal's invention - a mobile-phone adaptation that triggers irrigation pumps remotely - which has made the lives of Indian farmers much easier.

Santosh Ostwal, an engineer, observed for several years, the difficulties his family (all farmers) faced because of erratic water and electric supply. With the help of his wife, Mr. Ostwal spent many years trying to solve the problem by making use of simple gadgets. Finally, on the Ganesh Chatuthi morning in 2003, he hit upon his present solution. His ingenious method is now used not only in India, but in Egypt and Australia as well.

You can read the full story here: Questions for Santosh Ostwal

Welcome!

While thinking of ways to increase online presence, CRESCENT felt that a Blog would be an ideal place to start. Not only for disseminating information, it would also be useful to stay in touch with those interested in our domains.

The primary objective of this blog is to bring to you'll resources from across the web at a single point. So you can expect to see links to articles/studies/opinions/papers/contests/anything else under the CRESCENT domain in the following posts. These would often be accompanied by our own opinions.

Since this forum is for the readers, we would love to have contributions from you as well - either through material for the blog or plain & simple feedback!

Hope you find this initiative useful...