The Art Of Writing A Business Case – A Guide By PGDM College

“Opportunity Does Not Knock, It Presents Itself When You Beat Down The Door.” – Kyle Chandler

A business case is the virtual representation of how your business idea would reap the benefits for the customers as well as the stakeholders involved. As defined by various PGDM Colleges, it is the art of painting a picture for the audience and making them believe in your idea. Therefore a business plan would be successful only when you are fully confident of what you are proposing to your audience.

The Business case is usually a document that explains the core business benefit of the business idea thereby justifying the expenditure of the initiative. It explains thoroughly regarding how the project is aligned with the strategic goals of the organisation.

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The art of writing business case is crucial whether you are doing a project from scratch or joining in the mid way. Take some time out to write up a business case as it will help you understand a lot of crucial facets of the project and who knows you might come up with an even better solution than what is already laid out.

You can find a lot of templates for writing a business case in your PG Diploma Courses, but here is a step wise guide to the approach you should follow while writing it down:

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Step 1 : Identifying The Problem

The base of a business case is the goal it wants to achieve. In other words, if it is not solving a problem, it is not worth hearing. Therefore the foremost step towards writing a business case is to come up with a business problem or create a business opportunity.

Carolyn O’Hara, writes in HBR that you should “Lead with the need.” In simpler terms, figure out the problem or opportunity area, explain it completely, come up with a solution and propose a time frame to deal with it.

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Step 2 : Identify The Alternative Solutions

Once you have completed understood the problem statement, there are two scenarios – first there is already a solution on the table and second there is no definite solution as of now. In the first scenario, many people would just go with the flow without putting any effort to explore for alternative solutions. To all those, I have a single question, “How can you be sure that the project you are taking up is the best possible solution to the defined problem?”

To address this concern, there comes step 2 that is analysing all the alternative solutions. You can follow a 6 step approach to this:

  1. Make a list of all the alternative solutions.
  2. Quantify the benefits for each solution proposed.
  3. Lay down a cost structure for each solution.
  4. Analyse each solution on the basis of feasibility.
  5. Right down the issues and risks associated with each solution.
  6. Document

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Step 3 : Come Up With A Preferred Solution

Now, you have all the solutions, their pros and cons, the costs involved etc. the next step is to come up with the most feasible solution. A word of caution, the preferred solution can be a mix of two or three solutions keeping in mind the best of everything. Do not try to justify a single solution against all parameters as this could take you a much longer time thereby wasting your effort on unimportant issues. Rather, look at each solution with an open mind and finally come up with the best possible way to solve the problem. Remember, till the time you are not convinced with the solution, nobody would ever believe in it.

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Step 4 :  Laying Down The Implementation Strategy

Now, you have a business problem and the best possible solution. The last step is to document it with all your heart. Your business case is not about what you have in your mind rather what you have proposed on paper. So be thorough with your research document a detailed implementation strategy with honestly describing the possible fall outs and how you will handle them if in case they occur. Writing down the possible pitfalls would propose you as a realistic leader and make a positive impression on your audience.

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4 Ways To Deal With The Problem Of Conflict Of Interests At Workplace

So the  truth is that conflict and leadership go hand in hand and as a good leader it is your duty to address every conflict in a productive and healthy fashion. Your prime fundamental should be “Don’t fear conflict; embrace it – it’s your job.” No matter how much you run away from it, conflict of interest at workplace is unavoidable and all you need to have is the ability to recognise it, understand its nature and bring quick and just resolution to it.

Many students go for PG courses in India for further growth in career and while you do that, this you can learn from your day to day work scenarios from your own leader. Where there are two or more individual minds, there is a chance of conflict and the only reality is you just can not escape it and trust me when I say this, conflict never resolves itself. In fact, if not addressed in time, it can escalate to an even bigger problem.

After completing your PG Diploma in Business Management, you surely do not want to become a weak leader who is unable to deal with his subordinates. Below are five keys to addressing conflict of interest at workplace:

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  1. Set Rules for Acceptable Behavior

Setting a standard of Acceptable behaviour in a workplace is a positive and an essential step towards avoiding conflict of interest. Create a framework for decision making by encouraging team building, sound business practices in work, talent management and leadership development. Setting proper guidelines would help avoid conflict of interest in the long run as everyone would be at the same page from the very start.

Also while hiring, have a well described job profile so that the people know exactly what is expected of them. This would not only ensure an effective communication but also allow an articulated chain of command.Image result for Conflict Prevention

  1. Conflict Prevention

Even though you cannot always prevent conflicts to occur, but being proactive in this field can go a long way in conflict prevention. Always be on a lookout for areas of potential conflicts. By acting proactively in a decisive and just fashion, you can manage to prevent a lot of conflicts from ever arising. If still a conflict happens, the best way to deal with it is sift action.Related image

  1. The Importance Factor

Being a good leader, you need to learn to pick your battles and sometimes would have to avoid conflict just for the sake of it. However, there can be some issues that are so sensitive that the conflicts would arise, they would be important enough to be resolved as well. When there is a lot at stake, people would do whatever it takes to reach to an agreement by closing various positional and philosophical gaps.

  1. Conflict as a Learning Opportunity

In other words, “I entered into a conflict and I survived,” that is whenever you are addressing a conflict and come out triumphant, it teaches you a lot of lessons for future. You become more confident as a leader. You learn how to twist a conflict and  use it for the betterment for the company. For example, having a conflict in the team is a great opportunity for team building and developing accountability in people. This not only will simulate innovation but would also create an open environment where people would feel free to discuss and put forth their points without fear. As they say, there is always an upside to the difference of opinion, you now have two good solutions to the same problem.

5 Effective Steps To Effective Delegation

“Deciding What Not To Do Is As Important As Deciding What To Do.” – Jessica Jackley

Delegation of work to your subordinates is one of the most important task you have to perform as a manager. But there is one thing as delegating and a whole other thing as delegating effectively. There are two types of management – one is macro management where manager delegate most of the work to the team and other is micro management where manager is involved in every bit of work that is being done by the team.

Both kinds have its pros and cons. Micro management would sure get things done but the result would be an unhappy team hating their manager. Macro management would keep your team happy but can lead to poor performance if the responsibilities are not delegated properly. So what needs to be done?

The answer is the blend of both. A manager who leaves everything to his team is as likely to fail as the manager who keeps bugging his team for everything. The best solution is the process of Effective Delegation. In our PG Diploma Courses, you would learn how effective Delegation can go a long way in increasing the productivity of the team.

Effective Delegation means that you are sure that the project you are delegating to your team will get done at the minimum possible time with the results that are up to the expectations. The process of Effective Delegation includes five steps:

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Step 1 – The first step is to assess the willingness and capacity of the team to do the task. This is the foremost thing to do. It could be possible that people say yes to an important assignment but it’s your responsibility to judge if they will be able to perform this task or not.

Step 2 – The next step would be an open communication. Talk to your team and ask them how they feel about the work that is being delegated to them. Discuss about the quality, timeline etc. Doing this would create a level of expectation that your team would work hard to live upto.

Step 3 – The third step is to tell them you care. Delegating responsibility does not means, you are free of them. It is delegation not abdication after all. Ensure your team that no matter what problem they encounter, you are always there to guide them and is still accountable for the results.

Step 4 – Once the work is delegated, the next important step is to set up review meetings from time to time. It could be once a week or any frequency you deem fit. This would not only ensure that the work is happening as expected but also would help the team get any assistance if needed.

Step 5 – The  last step of an effective delegation is to reward your team for their success.

Effective Delegation can only be successful when your team knows how to work independently. This not only would increase the productivity but also encourages the team to be more innovative and effective in whatever is being delegated to them. Learning effective delegation would help you a lot in your career once you are out of your PGDM College.

4 Ways To Strengthen The Team Bond

A Stepwise Guide By One Of The Top PGDM College In Hyderabad

“Talent wins games but teamwork and intelligence win Championships.” – Michael Jordan

In today’s increasingly divisive times, one critical function, the leaders need to work on is how to bind the team irrespective of their differences at the same time driving organisational growth as well as boosting productivity of the employees.

At one of the Top PGDM College in Hyderabad, you will not only learn the necessary leadership and  Management skill, but also how to work in a divisive environment and leading them towards achievement of a common goal.

After completing your PG Diploma in Business Management, below 4 steps will help you strengthen team cohesion:

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  1. Draw Clear Boundaries Between The Work Of Your Team And The Common Purpose Of The Organization

You can understand this as making people feel important in the organisation. This is the best way to ensure team cohesion. When you are sure that what you do is contributing to the common goal of the organization only then will you feel the importance of the work that your teammates do. This would make you more respectful and helpful to their cause and thereby would help strengthen the bond between the team members.

  1. Real-Time Feedback To Help Assess Their Performance

By real time feedback, we not only mean the feedback from the leader but also from the fellow team members. Having healthy discussion forums where you can discuss the pros and cons of the team members would encourage employees to make a change for good and hence ensure a 360 degrees enhancement in performance as well as team bond.

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  1. Delegate Decision-Making To The Employees In Their Areas Of Expertise

This is a wonder tool every leader has in his kitty. Delegating work to your team members is easy but giving the power to the team to decide on the matters of delegation shows the team that you trust their judgement of the situation. This helps in increasing productivity as well as team bonding. A word of caution for better results here, “Ensure your team you have their backs regardless of the choices they make.”

  1. Creating a Healthy Environment Where Everyone is Heard

One of the most talked about outcome of growing division is that in case of disagreements, things often take an ugly turn and devolves into making personal attacks at one another. This could be damaging to the work environment and counter-productive for the entire team to work in such a negative team environment.

To avoid this, you need to create a respectful and healthy environment by setting a role model from yourself. Make sure, in every discussion you ask for both supporting and opposing statements and then work towards working a middle ground. This would help make your team understand that even though there could be difference in opinion, there  are ways to find a common ground where all can go home happy. This would not only strengthen the bond of the team but also would help them learn a good leadership skill from their leader.

3 Strategies You Should Follow To Achieve Your Goals

“You cannot get through a single day without having an impact on the world around you. What you do makes a difference, and you have to decide what kind of difference you want to make.”  –  Jane Goodall

We are in the second month of the year and a lot of you might have decided to work hard this year in order to achieve their goals. Many of you must have set new goals as well. Setting goals that help you to prosper, succeed and become a better you, and then working towards achieving that goals is something that can be done all year long. However, the complication here is  that it is easy to set new goals but working towards achieving them are difficult.

In our PG Diploma Courses, we teach students to develop a habit of goal setting and how to achieve those goals. So if you are thinking of doing PGDM in Hyderabad, these 3 strategies would come in handy in order to achieve your goals:

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  1. Be Thorough With Your Goals

Everyone knows that we need to be utterly specific when it comes to setting organisation goals. However, while setting personal goals, many of us tend to forget this important point. We come across a lot of students who are very clear about what they want to achieve in life, but very few work on how to achieve that goal. It is very important to learn that be it professionally or personally, you need to have how and why in addition to what.

Always remember, if you actually want to achieve your goal, you need to have a clear understanding of all the prospects related to it and doing an how and why analysis would give you a fair idea as to whether you have set a right goal for yourself or not.

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  1. Solicit Feedback From Others

When we set our goals, we share them with our near and dear ones. One of the most common benefit of this is that they keep us accountable for our goals and keep pushing us to work hard in order to achieve them. But apart from this, you can also gain valuable feedback from them in order to understand if what you want to achieve is feasible or not. The course of action you have decided on is the best one or not. Is there any other way you could achieve your goal and so on. Taking feedback time and again helps you constantly improve your effort towards achieving your goal.

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  1. Shift How You Evaluate Your Progress With Time

One of the key to sustainable motivation is not just how much progress you have made towards achieving your goal but also the measure of the progress towards it. For instance, once you start working towards your goal, in the beginning, you can focus on how much you have completed it. The more you complete, the more motivation you will get. However, half-way through, you can shift your focus towards how much of it is left. As you work towards it, the lesser it would remain and hence such perception would keep you motivated to finish it as soon as you can.

5 Reasons Why you should do PG Diploma Courses

“Your time is limited, so don’t waste it living someone else’s life. Don’t let the noise of other’s opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition… Stay Hungry. Stay Foolish.” – Steve Jobs

 Once out of graduation, we have a lot of dreams and aspirations that we want to fulfill. There are lot of career plans hanging on the ceiling and each day we come up with a whole new plan. Confusion is all around you and you are tempted to do what everyone is doing without measuring its suitability to yourself.

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One of such trends is going for a postgraduate degree after graduation. And for those who are looking to walk on this path, there are many different options which  you forget to explore altogether as no one else is not taking those options into account and that is where you do the mistake. Therefore to take the right decision, you need to write down the requirements and based on these requirements you should choose a course to take up.

One option worth exploring is PG Diploma Courses which takes up 6 months to one year of duration and are considered to be an equivalent of MA qualification. We have been providing PG courses in India for a long time and in this duration, we come across many students who want to know why they should go for such courses and what benefits would they reap out of it.

Below is the list of 5 reasons why you should take up these courses:

  1. Employability

Nowadays, everyone is running after degrees which are much more time consuming and are becoming ever more commonplace.  Therefore it is important to make your CV stand out from the rest. Going for a Postgraduate Diploma would not only help you acquire new skills but would also help you have that competitive edge because the time you will save in getting a degree would be reflected in terms of more work experience which would given priority any day.

  1. Time Consuming

As mentioned above as well, acquiring a degree is more time consuming as compared to a diploma. There is not much difference between the two though. So if you are not prepared to invest more time into your postgraduate studies, going for a diploma is a much smarter choice.

  1. Learning new skill for career change

Many a times, students go for postgraduate study in order to take up a different path in their career and learning a new skill is always the best option to do that. Taking up diploma courses allows the potential candidates to learn all the new skill without getting it much heavy on their minds.

  1. Finance

This is an extremely important factor because you get everything you can reap from a degree but at a much lesser cost. The average cost of a diploma is much lesser than its equivalent degree.

  1. Networking Opportunities

Going for these courses is a great way to create a great network as most of the subjects will be taught by industry experts. They would take up seminars as well as talks which serves a great opportunity to network and make connections.

7 Tips to learn the art of listening

A guide by Pg Diploma in Business Management

“Most of the successful people I’ve known are the ones who do more listening than talking.”

-Bernard M. Baruch

 

When someone asks you what qualities you think a good leader should have. What are your answers? Is it a good speaker or a decision maker or a risk taker or a charismatic person? In all these options, we deliberately left out one of the most important quality and that is Listening. A successful leader is the one who can carry out a good conversation and brings out that energy at the workplace which could help people to work to their best of potential.

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Many people think a good conversationalist is the one who is a good talker but in reality it is the one who is a good listener. There is an interesting statistics around this which says that, “English speakers can say 125 to 150 words in one minute but are capable of listening to 400 to 550 words in the same duration.” There is an old saying as well, “He who speaks first loses.”

So whilst you do your pg diploma in business management, learn the art of listening. This would not only help you excel in your diploma in financial management but would also help you develop a crucial skill to become a better person overall.

 

Below are the 7 tips to learn this great art:

 

Intention of being Involved

 There are a lot of benefits of listening. It helps you to learn new things. It helps you formulate a better reply. You always get into a conversation for some reason, so do not deviate from your goal. Stay involved and come out having your purpose solved.

 

Conducive Environment

There has to be an ideal environment to listen to a person talk. Always choose a quiet place that is conducive to listening.  This would help you recollect your thoughts as well whilst you listen.

 

 Go with the Flow

 A good conversationalist is the one who knows how to act in the moment. Deciding in advance what you are going to say before entering into a discussion can make it one sided. So allow your conversation to go with the flow. Listen to all the sides, weigh everything and only then speak your mind.

 

Stay in the Moment

 In order to listen, you need to rid yourself off all the distractions such as social media, phone calls, sms etc. Put your phone on silent or pilot mode whilst you are in the conversation.

Learn to Pay Attention

 Many a times this happens that you are 100 percent in the room without any distractions but your mind starts to wander. For this you need to learn how to pay attention no matter how boring the conversation is turning out to be. One best way to develop this is Yoga.
Be Empathetic

 We listen only when we have certain agreement with what the person says. To ensure this, put yourself in the other person’s shoes. This would help you empathise with the person and hence would help have a fruitful discussion.
Wait for your turn to talk

 This is one of the hardest thing to do. In a conversation you will get a chance to talk. Wait for your turn before you talk and do not interrupt when someone else is talking. In order to truly listen, you need to resonate so that the person feels that you are listening and for this you need to wait for your turn to talk.

Why the PG Diploma Courses are considered as the need of the hour?

The competition in the professional world is growing with every passing day. One weakness and you can miss an opportunity to add a feather in your career. The PG diploma courses prepare you for some of the most challenging professional positions and academic courses. It’s a chance to pursue an education under the academic direction of great schools and universities and earn a qualification. The good colleges and institutes cover the complete gamut of experiences and exposure needed for establishing and running a business successfully in India as well as in abroad.

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Post Graduate Diploma in management

This course offers specializations in human resources, marketing, operation and finance. You get to discover your true potential after practising rigour and aimed hard work having chosen the specialization of your choice. This program is designed to train the students to become amazing high-level-decision makers and general managers with wide strategic vision. It views management as an integrated process and aids you in developing a global view and responds efficiently to the modifications in the cultural, economic, political and technological environments. Particular skills in areas like finance, accounting, operations, marketing, and management lie in the heart of this course.

With PG courses, you can gain employment in TV channels, newspapers and media houses along with public relations agencies and advertising after completion of the courses. You can land up getting a great job through campus selection as well as otherwise.

PGDM course for executives

The PGDM executive course is specially designed for the ones seeking larger, more important roles in their businesses and organizations. This program makes a distinction in focusing on the experiential learning with the help of real business cases, role plays; experience sharing etc. The content of the program is designed keeping the industry insights on needs of working executives. They require programs which provide the required flexibility to enable them in pursuing their education and career side by side and at the same time, it should also ensure a good quality learning experience.

The executives in the organizations handle functions in many different domains. To make sure the competency building in particular domains, this course is designed in such a manner that in addition to the core management foundation, it lets the executives build up their skills and specialize in any of the key functions- operations, business analytics, finance, and marketing. It is specifically designed for the working executives who have at least an experience of 3 years.

Leadership development

With ever so changing business requirements and speedily evolving business environment, the leaders need to be innovative, curious and creative. An important combination of people and organizational skills is imperative for the leaders of today. With PG courses, you get prepared to meet these unique challenges. Your skills are developed and character is built which helps you in thriving in the complex business organizations. You get to learn your own strengths by self-assessments and psychometric assessments. You are constantly mentored and guided throughout the time of your course.

You are an ideal candidate for this course if you are seeking real-life applications of theoretical knowledge and an integrative approach to understanding the contemporary business issues.

Deciding for the future

The main aim of the PGDM colleges is to impart relevant and holistic management knowledge and skills to make the students industry prepared across all the functional areas. This course can help in following ways-

  • Enhancing your understanding of the real world business complications with the help of case studies.
  • Cultivating problem-solving and analytical skills.
  • Understanding the social and economic environment and its business implications.
  • Improving your decision-making
  • Developing your managerial skills as well as your leadership qualities.

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Pursuing the course in business management

Companies need dynamic business managers all around the verticals whose skills and expertise can be leveraged for helping in running the business in a successful way. As long as the domain expertise is compulsory, business managers must also be able to make decisions which are beneficial for the business in a complete sense.

The duration for PGDM courses varies from college to college. The Post graduate diploma in business management gives inroads to the understanding of how to manage any company or an enterprise at a basic level and advance and progress its functioning and value. The whole course is designed with a view of giving you a wide overview of the business framework, the range of capabilities of an array of business models, for encouraging strategic thinking and in helping with advanced organizational core competencies.

PGDM or MBA?

Most students at the time of choosing a management course are in a predicament over whether to go for an MBA or PGDM? The answer to the puzzle lies in acknowledging your credentials. If you have an option to grab a PGDM admission in a good PGDM college and an MBA from not very reputed school, then go for the former as PGDM from a good PGDM college scores above an MBS college admission in a less reputes school. For choosing between PGDM and MBA, you need to know the difference between the two.

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About PG diploma in management

This program is very prestigious and is rated amongst the best of its kind in the nation. The alumni of this program at present occupy very important positions in different industries, both India and abroad. On completion of this program, you will be able to make informed decisions at senior and middle levels of management. This program will equip you with the important and essential skills and advances knowledge for becoming leaders and managers in the diverse and challenging environment in which you find yourselves.

The thrust of this programme is on developing some skills, which are:

  1. In becoming an effective leader who can get exceptional results and transform the organizations.
  2. In developing the competence needed for facing international competitions.
  3. In inculcating values of justice, fairness and integrity.
  4. In developing sensitization to the people, the society, the environment and the country
  5. In inculcating the entrepreneurial skills and making a difference to the business environment.
  6. In producing vision driven managers who are capable of pro-actively responding to increases uncertainties in the changing times.

So, you now know it very well how important it is for you to get a diploma in the business management to lay a solid foundation of your management career!

Paving the Way fora Successful Career as Financial Manager

One of the major changes that business organizations have undergone over the past few decades is the realization of the need to appoint qualified professionals to handle their various financial aspects. This has led most modern organizations to employ a qualified finance professional for handling the key position and responsibility of a financial manager. These managers are responsible for providing advice and guidance to the organizations related to issues like investment activities, manage the groundwork for creating financial reports and develop and implement the most beneficial cash management schemes. In many cases they are also responsible for the management and administration of the accounting and budget departments.

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Given the significant role that the financial managers play in enhancing the growth and success of an organization, hiring the right candidates for the job is a top priority. Thus it is not surprising that the demand for candidates having a degree or a Diploma in Financial Management has been on the rise over the past several years. This is because the recruiters are well aware of the fact that hiring such candidates will resolve a majority of financial planning woes of the organization and streamline the process for greater competence and efficiency. In view of these facts, it is quite easy to understand as to why higher education programs in financial management have become a popular choice for most graduate students.

Listed below are the various professional advantages that students can gain by pursuing a course in financial management from the top rated institutes across the country.

  • The students are able to better understand the various factors that influence the financial growth and stability of an organization. This helps them take the most effective decisions to overcome any hindrances, which might be restricting such progress.
  • They become aware of the importance of taking calculated financial risks to turn the available opportunities into the favourable business growth options. They also learn the skill of creating a balance between the financial stability of an organization with its long and short term business objectives.
  • Pursuing Post Graduate Diploma courses in India with specialization in Financial Management helps them develop the skill of commercial thinking and analytical planning as their second nature. This makes them habitual of thoroughly considering the pros and cons of every financial decision and minimizing the chances of error.
  • The in-depth knowledge about the various financial processes that the candidates gain as a part of their education helps them to handle multiple tasks in emergency situations. This makes them even more valuable for the organization ensuring better job stability and security.
  • Most importantly the candidates are able to implement the concepts and principles of financial management in their own personal lives. This makes them financially more secure and also helps them to develop both a global and micro level outlook about the proper utilization of their financial management and planning skills.

Apart from the above professional benefits, pursuing a financial management diploma also helps in enhancing the overall outlook and personality of the candidates making them market ready to take up a serious management role with great responsibilities.