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Q I am an MBA student. I am
confused about selecting my field of specialisation in my second
year. I am interested in finance and marketing but will it be
beneficial to opt for finance when most MNCs and premier companies
are opting CAs or ICWAs as their for finance or accounts managers?
Is it good to go in for marketing with HR? Please guide me. — Trivikram Singh A While CAs and MFC degree holders work in financial services companies and financial departments of corporates, an MBA from a top-of-the-line B-school offers you the widest scope across financial services, institutions, international banks, MNCs, PSUs etc. Remember, both marketing and finance are critical business functions. Finance constitutes the lifeblood of any business. In fact, most of the managerial decisions have financial implications. Business organisations need to generate adequate profits to sustain their operations and achieve growth. Hence, most of the organisations are driven by the bottom line. Consequently, it’s essential that all general managers and functional managers understand the basic concepts and practices related to finance, accounting and control. Clarity of business goals is imperative for making profit in the competitive world. As a matter of fact, banking and finance has emerged as the as one of the two most sought-after sectors (along with IT and ITES) by students passing out of India’s leading B-schools this year. In fact, banking and finance accounted for 26 per cent of the total offers accepted by graduating MBAs last year. So, if you have a keen interest in finance, don’t opt for the HR or marketing simply because it’s a so-called ‘safer’ one. And please don’t confuse finance with accounts. Finance is more than mere bookkeeping; it involves a great deal of strategy and planning. Finance managers oversee the flow of cash and financial instruments, monitor the extension of credit, assess the risk of transactions, raise capital, analyse investments, develop information to assess the present and future financial status of the firm, and communicate with stock holders and other investors. Remember, your professional success will eventually depend on your individual skills, aptitude and initiative — regardless of the specialisation you choose. Your pay packet will also depend on the B-school you graduate from, the kind of companies that visit your campus for recruitment and to some extent on the sectoral cycles that prevail at the time of placement (e.g. when the economy is booming, jobs in finance are at a premium). Online tutoring
Q I am an experienced teacher who can teach maths and science up to Class X. I want to take up online coaching for foreign students. Kindly guide me. — Savita A With western countries facing an acute shortage of mathematics (65 per cent of US 12 graders are not proficient in Maths) and science instructors, Indian teachers are tutoring foreign students online on everything from the Pythagoras theorems to Einstein’s Theory of Relativity. An article Wall Street Journal says the next wave of outsourced services would be from education. Currently private tutoring in the US is a $ 8 billion industry of which $ 3 billion comes from online tutoring. Moreover, the No Child Left Behind Act has spurred the demand for tutors. One estimate suggests that 40 per cent American students flunk maths and the country needs at least one million skilled teachers by 2015. Using a web camera, e-tutors are able to guide students via ‘White Board’, a software with a voice and text platform. EPO companies in India charge the students $20-35 per hour, which is much cheaper than their American counterparts. US-based Tutors World Wide Inc has identified highly qualified postgraduate lead tutors through firms like NIIT and Career Launcher. Educomp Solutions Ltd (www.educomp.com) with its head office in Delhi and numerous centres across the country has 850 teachers on its rolls to provide EPO services. Companies like Highpoint Learning Inc., Hyderabad, which provides web-based education services are now exploring markets in Spain, South Korea and New Zealand. Mechanical approach
Q I will soon be completing B. Tech in mechanical engineering. What is the scope of this field. I have been told that there are hardly any jobs available in this sector. How can I enhance my prospects? — Vikas Sharma A Mechanical engineering is the broadest engineering discipline, extending across many interdependent specialities. Mechanical engineers research, develop, design, manufacture and test tools, engines, machines, and other mechanical devices. They work on power-producing machines such as electricity-producing generators, internal combustion engines, steam and gas turbines, and jet and rocket engines. They also develop power-using machines such as refrigeration and air-conditioning equipment, machine tools, materials handling systems, and industrial production equipment. Mechanical engineers are trained as the jack of all trades and their skills are required in all fields of technology. So, they also design tools needed by other engineers for their work. A bulk of mechanical engineering jobs are in manufacturing — mostly in machinery, transportation equipment, electrical equipment, instrumentation, and fabricated metal product industries. As far as prospects are concerned, you need not worry. The number of mechanical engineering jobs is fairly large - next only to jobs in electronics and computer engineering. With the rapidly expanding industrial sector looking to plug the demand and supply gap for skilled professionals, the employment potential for talented mechanical engineers is quite high. You can look for work in both the private or public sector industries. Additional knowledge of CAD / CAM using current software would be an asset. You can also go for high-end design softwares like Pro/ENGINEER (Pro/E) and Catia and Matlab. Meanwhile, PTU’s Baba Banda Singh Bhahadur Engineering College, Fatehgarh Sahib, (NBA Accredited) offers M. Tech in CAD/CAM (www.bbsbec.org ) You could also opt for a postgraduate course in industrial design or manufacturing systems engineering like those offered at BITS (Pilani & Goa) or the IITs, amongst others. Tool design and manufacture is another option. Other specialisations at the M. Tech level include those in welding, machine design, thermal engineering, production and industrial engineering, automation engineering and automobile engineering, to name a few. You can also pursue a one-year course in marine engineering to get into the merchant navy.
Adding to your skills
Q Unlike most of my classmates, I love maths. I have a genuine knack for understanding and solving complicated maths problems. Please tell me how I can develop my skills further. — Gauravjeet Singh A The ability to enjoy mathematics is a gift not everyone is endowed with. For starters, I suggest you participate in the 15th Mathematics Training and Talent Search (MTTS) Programme. The MTTS programme is being funded by the National Board for Higher Mathematics, The mechanics of this three-tier programme are as follows: The O-level is for second year B.Sc / B.Stat /B.Tech students with mathematics as one of their subjects; exceptionally good B.Sc-I students can also apply. Level I is for final year UG students with the above-mentioned qualifications. To participate in Level II, the student needs to be in first year PG (M.Sc / M.Stat / M.Tech etc) with Mathematics as one of their subjects. The main aim of the programme is to train students to work independently, gain confidence in learning/understanding mathematics and to give them a perspective. The faculty is drawn from reputed experts teaching in leading institutions of the country. Each course is taught by a single expert for better interaction (over 4 weeks). Teachers identify the difficulties of individual students, which is one of the unique features of this programme. Reading material is also provided. Unless you are really keen and ready to work very hard, please don’t apply for the programme. But if you are seriously interested in pursuing higher mathematics, this programme will be immensely valuable to you. The programme also provides a platform for students with varied backgrounds to come together and interact with peers and experts in the field. This serves two purposes: i) you come to know where you stand academically and what you have to do to bring out your full potential; and ii) you get to establish a rapport with other participants and teachers which will help you shape your career in mathematics. It’s an opportunity to see for yourself how you compare with other students. The emphasis is on pure mathematics. The programme includes subjects such as algebra, analysis, geometry, number theory and topology. The medium of instruction is English. It is very essential that you are able to communicate in English. The Institute of Chemical Technology (UICT), University of Mumbai, is the nodal centre for the programme. For details visit
http://math.mu.ac.in/mtts/index.html
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