LEC 01

LEC 01

In NITIE, an institution known for its unique pedagogy, I experienced the same in the class of Dr. Mandi . You all can imagine what a class it would be which is taken by such an encouraging and inspiring mentor who is the key part of NITIE's Entrepreneurial cell , initiator of real time marketing events in NITIE like MANDI (what for he is called as Dr. Mandi) and "Hamara Dhandha"(reason he is also called as Prof. Dhandha).

“Don’t be another brick in the wall”

The class started with a mention to Pink Floyd's "Another brick in the wall", a satire to the harsh and unproductive Education System. Its from here that the discussion shifted to what we need to change in ourselves and how we should see towards everything differently.

We all MBA students' effective cost of living per day is even more than Rs.3000. And 90 % of us don’t even think about it in this way. But

"||  MBA Graduates make money, not waste money  ||".

We think getting admission in one of the most reputed colleges of country has guaranteed us a good paying JOB. Why don't we think that we can use our this 2 years time in earning while learning also. After all, we are all engineers, we have spent 4 years in learning engineering and then 2-3 years on an average in the industry. But still we never think to Earn While learning in the MBA. We can at least cover the expenses of our education by putting into use the learnings in any small task that we can take up, be it working with some firm or having our own small start up. We should understand that any company would like to work with us only if we can earn for them. And we can earn for others only if we can earn for ourselves. So,

                                 "||  Aaj ki roti ..Aaj hee kamaenghe ! (Earn today's meal today)

                                      Behatar padhai kae liye.. Kamai ! ! (For better learning, Earn)    ||"

It is the approach towards things that needs to be changed. We can sell anything in the market if we can present it in an effective manner. Even a small plastic cube can be sold provided it is marketed as a mathematical tool.

                                 "||  Socho.. Becho !  Becho.. Seekho !!   Seekho .. Socho !!!

                                      (Think... to Sell! Sell... to Learn!! Learn... to Think!!!)  ||"

There are umpteen ideas that can be worked out to create opportunities. Dr. Mandi told us about various examples of our seniors who opened their own start ups while studying and are today successful entrepreneurs.

“Tower Making – A Management learning exercise”

Then Prof. Dhandha alias Dr. Mandi gave us all one small wooden cube each. He introduced a game “My Tower” in which one has to make a Tower of those small wooden cubes placing each cube one by one on top of each other. The tower was to be made by one person only using his weaker hand , blind folded, and with taking instructions from only 2 persons. So it was effectively a team of 3 in which the tower builder was blindfolded and had to use his weaker hand.

Before making the team, everyone's target of number of cubes was asked. And the maximum number in the class was 20 .And 45% of the people gave their target as 10-15 cubes tower.  Now, everyone was ready to make the tower.

But then, the twist came!!!!! One has to put his money aside as Entry fees in the game. And He would get the money back only if he wins and completes his target of no of cubes. Suddenly everyone backed out. Now no one was interested to bet his money to win the challenge. “But Risk has to be taken to achieve something”. A teaching which everybody might have heard somewhere sometime but no one remembered. And Risk takers are always there. So, we found 3 students from our class who accepted the challenge and started the task.

It was this game which covered almost every aspect of management of a task. But to learn from it, you have to see it that way. Then, Tower building started. Initially, time being taken was more, but as the momentum increase, time taken started reducing. Cube on Cube they started placing. The blindfolded builder guy took instructions, used his weak hand and finally reached his decided target of 17 blocks after trying really hard.

The major learning from this exercise was that, if any task has been given to a manager, then it is achievable. Its only the management of the task, that is the problem. So Managers should not be afraid of the problems as they are the PROBLEM Solvers. And risk has to be taken for starting the real work which can pay them later. Don't be afraid of the risks. After all how can a person think of earning huge Money in business if he has never lost even a smaller amount in it. Then various business problems were actually covered in the exercise.  Like, while the tower building by those 3 participants, all the others in the class also started giving instructions, some started creating noise. All these are analogous to the hurdles, the unwanted external noise that comes in the way when one starts his/her own start up.

The other major learning in the exercise was "Goal Setting", even a “SMART” goal setting. Everyone in the class was asked beforehand about their own goal of number of cubes they can make tower of. But some gave their goal as half of what was actually achieved in the task. So , its very important to decide on the goal as its the major building Block of your next step, and only it will decide the workflow of your whole planning.

What is “SMART” goal is:

S  Specific

M  Measurable

A  Attainable

R  Realistic

T  Timely

And we should understand that once the goal is set then, our performance must be equal to our potential. And we should always realize our potential and try to surpass it. That is Potential after the task should be more than potential before the task.

"||Excess of Goal achieved over and above achievable Performance reflects the impact of MANAGEMENT||”

And none of the problems that a manager is given is unachievable. If there is a problem, then there must be a solution to it. All these solutions are founded by managers by systematic planning, Communicating, Motivating, Supporting.

So, don’t under estimate yourself. Realize your Potential and work out with your new ideas and creativity. Its all of us who are the future “Entrepreneurs”.

Good Luck ....... !!!!!!