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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3 Steps To Positive Thinking – A Way To Be Happy At Workplace

A counselling guide by the best PGDM College in Hyderabad

 

“I became successful due to several reasons. I never gave up and I never let anyone or anything get in my way. I use the power of positive thinking  tackle obstacles and challenges so they don’t defeat me.”– Lillian Vernon

 

Be it in personal life or your work life, the way we handle a particular situation depends completely on our perception of it. Many a times that perception could be correct but sometimes it could be wrong too.  For example, we jump to wrong conclusions very fast or we are very harsh with ourselves for no particular reason and so on. This could cause trouble and make us unhappy.

The most agreed upon definition of stress by the PGDM Colleges was developed by Richard S. Lazarus. He said that it happens when someone thinks that the demands on them “exceed the personal and social resources that the individual is able to mobilize.” This stress in turn can cause the person to panic and hence mess up the situation which ideally could have handled in a better way if you just have the positive thinking and right perception towards the situation.

Most situations are not as stressful as it seems which make us stressed and unhappy in the workplace thereby undermining our confidence level. In one of the best PGDM College in Hyderabad, we not only teach management to our students but also a way to think positively.

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Step 1. Understanding Thought Awareness

The foremost reason to have negative thinking towards the situation is the fear of future. What if I fail? What if my boss scolds me for making the mistake? And so on. Negative thinking damages your confidence which in turn hampers your work, paralyzes your mental skills and harms your performance.

The process of Thought Awareness is the foremost step towards tackling negative thinking and bringing positivity in your work. It is the process by which you try to gather and observe all your thoughts and become aware of what is going in your mind.

You can do this by maintaining a log of all that stresses you at work. When you do this for a particular duration of time, you will notice patterns  and common reasons that stresses you. After this all you need to do is handle those issues on priority and start building a positive life.Related image

Step 2 – Creating Rational Thinking

The next step is to challenge all the negative thoughts you jotted down during Thought Awareness and  challenge them one by one. Looking at each and every thought rationally would help you in identifying all the problem areas that if fixed would automatically ease up the situation for you.

It could be anything such as talking to your boss about the late night meetings that hampers your performance the next day or organise your inbox in order to avoid wasting time on redundant mails and so on. The best way to rational thinking is put yourself in the shoe of an adviser and imagine that these troubles are with someone else and you have to give them a rational advice in order to stay positive. Note all your points in front of each negative thought and start applying these advices one by one. You will feel the change yourself.

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Step 3 – Positive Thinking Exercises

The ultimate step to positive thinking is the day to day practice of all your rational thoughts you jotted down in front of the negative ones. So all you have to do is to talk to yourself about all the affirmative and rational thoughts you have been writing down. Many a times, we think positively throughout but when the time comes, the panic starts to take hold of us and all the positivity goes out from the backdoor.

In order to avoid this, it is always recommended to give yourself confidence and tell yourself all the rational thoughts. This would help you stay calm in the situation and would also make you a good performer and a better team member.

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.

How to be self motivated are you in order to fulfill your Goals in Life

A career boost guide by PGDM college in Hyderabad

“Good, better, best. Never let it rest. ‘Til your good is better and your better is best.”

-St. Jerome

 How motivated you are to fulfill all your goals in life? Meaning to do something in big life and motivating yourself to work hard to actually do are two completely opposite things. There are many people who set a lot of goals for themselves but never able to achieve. So what exactly is lacking in them. Yes, you guessed it right, the self motivation. The motivation to complete that work assignment in time or the motivation to enter into a best pgdm college.

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 Below is the list of some factors that we teach our students of pgdm in Hyderabad that could help you build strongest levels of self motivation in yourself:

 

Positive Attitude towards Future

 “Your life today is the result of your attitudes and choices in the past. Your life tomorrow will be the result of your attitudes and the choices you make today.”

 Being self motivated means that you stay positive when things are not going as planned. Having a positive outlook towards future helps you to handle difficult situations and keep you motivated to keep working without giving up.

If you will assume that you won’t succeed in future, your motivation level would keep going down no matter how hard you try so always have a positive attitude towards everything that is happening around you.

 

Motivating Surroundings

 “When you start seeing your worth, you’ll find it harder to stay around people who don’t.”

 This is all about the external factors that impact your way of thinking, the way you work and ultimately decides how motivated are you. Always surround yourself with people and resources who remind you of your goals and how close you are to them. This is effective especially in case of a failure or a temporary setback. A motivating environment helps you to stay motivated from outside and makes sure that you stay focussed on your goal.

Set Strong Goals and Stay Focussed

 “Don’t Limit your Challenges,

Challenge your limits.”

 This is one of the key factor of building self motivation. Always set strong goals. This helps you to stay focussed and gives you a clear direction to achieve that goal. Once your path is laid out and you have promised yourself that you want this in your life, the self motivation would flow automatically.

 

Have Self-confidence

“Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence.” -Helen Keller

 This is the most determining factor in being self-motivated. If you do not have confidence in you that you can achieve what you have decided for yourself, you would never ever be self motivated to work towards it. In order to gain confidence in yourself, you can do a simple exercise. Stand in front of a mirror everyday in the morning and tell yourself that “I will be confident.”

 

 

 

Guidelines for Accessing the Suitability of PG Courses in India as per Student Needs

The popularity of post graduate education in India has been on the rise over the past several years. Apart from the steadily rising competition in the business marketplace, the need and demand for qualified professionals within business organizations has also enhanced this trend. However, with such a huge diversity of PG courses in India to choose from, most candidates find selecting the right course somewhat difficult. The best way for the aspiring candidates to overcome this problem is by learning to evaluate the various courses on the offer as per their needs.

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Does The Course Meet Their Career Objectives?
The candidates should gain detailed information about the various aspects of the course they intend to pursue and how it can help them meet their career objectives. The course should not only provide them with the requisite in depth knowledge of a specific professional niche, but also train them in the skills that will prove critical for their career advancement. It is important for the candidates to avoid pursuing a course that does not fulfil these two basic needs.
Level of Convenience for Pursuing the Course
Another important factor to be considered for evaluating a PG course is the convenience of pursuing it. This means that the aspiring candidates should make sure that they do not have to fulfil specific conditions for pursuing the course of their choice. These conditions might include having completed prior education in a specific field, or the need to undertake additional studies for successful completion of the course, or even the need to fulfil the requirement of a minimal work experience. In case, the candidates are unable to fulfil any of the requisite conditions, completing the course successfully might be both difficult and inconvenient.
Is The Course Industry Recognized?
In general, the ultimate objective of the candidates planning to pursue a postgraduate course is to establish a successful career. However, if the course is not industry recognized, they stand no chance of fulfilling this dream. In fact, this is one of the major reasons that lead a majority of candidates to seek admission in the top PGDM colleges in Hyderabad and other cities across the country. These colleges and institutes are least likely to offer any courses that do not hold valid industry recognition.

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Affordability of The Course: Finally, it is important for the aspiring candidates to ensure that the course they intend to pursue is affordable for them. With most top colleges and institutes seeking a relatively higher fee, this factor often plays a deciding role in accessing the suitability of a program. Thankfully, the easy availability of education loans with flexible repayment terms ensures that even students from poor economic backgrounds are also able to pursue a course of their choice. However, even after availing the education loans, the candidates need to consider the other expenses that they will have to bear until the completion of the program.
Only after analysing the above factors in depth, should the candidates select a course that they feel meets not only their career objectives but also matches their inherent skills. This is essential to ensure their success in the profession of their choice.

Teaching Management Aspirants The Most Important Life Skills

The demand for qualified management professionals has been on the rise
over the past decade. This has in turn led to the immense popularity and
growth of different types of management courses provided by countless
universities and institutes across the country. While it is an undeniable fact
that these courses aim to open a world of opportunities for the aspiring
management candidates, most people tend to overlook their other equally
important aspect. This is about teaching the management aspirants the
below discussed essential life skills that can pave the way for their success
in both professional and personal lives.

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Decision Making: One of the most important skills that professional
managers need to possess is the ability to take the right decision at the
right time. The best PGDM colleges in Hyderabad focus on imbibing this
essential trait amongst their students so that they can take major decisions
in a confident manner. In fact, the course curriculum helps the students to
not only understand the need for proper and timely decision-making for
ensuring consistent business growth but also the right way to go about the
process. The students learn to thoroughly analyze the various aspects of
the decision and its benefits for the organization as well as the ability to
shoulder the responsibility of any consequences.
Team Work: Another essential skill that the students get to learn as a part
of their PGDM curriculum is that of team work. It is a well-known fact that
team work plays a critical role in growth and success of any organization.
However, most people believe that this aspect is applicable only for junior
level employees, although the significance of team work amongst mid-level
and senior managers is equally, if not more important. It is the awareness
of this fact that leads the colleges offering courses of PGDM in Hyderabad
to help the students understand the significance of team work and become
a competent team player.
Global Outlook: The modern world is becoming smaller with each passing
day in terms of the completion and interaction between international
markets. Hence, for any manger to take his/her organization to the next
level of success, it is essential to possess a global outlook about everything.
The managers need to not only keep themselves updated about the
developments and changes within the local marketplace but also about the
things happening on an international level. It helps them to better
understand and predict the changing client needs and expectations and
devise the most appropriate strategies to fulfill them in a successful manner.
Time Management: Finally, it is extremely essential for the managers
today to possess the skill of time management. This key skill can help them
to avoid any delays in decision-making which can deeply impact project
completion and other critical business processes. It also helps them to
ensure that all the management tasks are carried out in a smooth and well-
coordinated manner. In fact, efficient time management is the key to
ensuring the consistent growth and profitability of an organization in a
hassle free manner. Learning and implementing this skill as a part of their
education, ensures that the students gradually become habitual of it.

5 Reasons That Make A PGDM Course The Best Choice For Higher Management Education

Over the past several years, the popularity and demand of PGDM as an option for higher education in the field of management has increased significantly. In fact, a large number of candidates are giving preference to a PGDM program over even a full time MBA course. The change in perspective towards PGDM, which at one time was considered to be a far inferior option as compared to MBA, has been made possible due to the following reasons.

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  1. Industry-Approved Curriculum

The best PGDM colleges in Hyderabad make every effort to keep their programs closely related to the current practices and trends within the business arena. The fact that the PGDM programs, unlike MBA courses, are offered by autonomous institutes, makes frequent updates in curriculum relatively simpler and hassle free. This helps the students to learn the most relevant concepts that they are likely to use while working as management professionals in the real world.

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  1. Focus On Interpersonal Growth

Pursuing a PGDM course ensures the overall interpersonal growth of the candidates, which proves beneficial to them in their professional and personal lives. The course pays special attention to developing the skills that will help the candidates to fulfil their roles and responsibilities as a management professional in a better and satisfactory manner. The program helps in enhancing the confidence, decision making skills, analytical thinking and even the presentation skills of the candidates for better career growth.

  1. Making The Candidates Corporate Ready

A PGDM program lays greater stress on teaching the candidates about the various practical aspects of working as a management professional. Thus, by the time the candidates complete their management education, they are well prepared to take up the challenges of the business world head on. This makes them the preferred choice of employees looking for professionals, who have a better understanding of the present business scenario and are capable of handling its various aspects in the most competent manner.

  1. Better Placement opportunities

Completing a PGDM program ensures better and greater placement opportunities for the candidates. This is because the employees are constantly in search of candidates, who do not need to be introduced to the real world work environment but are already familiar with the same. The industrial training programs that form a part of the PGDM courses ensure the same and thus help the candidates to lay a lasting impression on prospective employees. Moreover, their familiarity with the real world work environment makes it possible for the candidates to come up with unique solutions and out of box ideas for business growth.

  1. Greater Professional Freedom

In a time when start-ups are in vogue, PGDM provides ample business knowledge and practical experience to the candidates to help them establish one on their own. Thus a PGDM program enables the candidates to be their own boss and ensures greater professional freedom for them. It also helps them to put their ideas into action without having to seek permission about the same form superiors and management committees which might take months if not years to approve the idea. The course also helps the candidates by providing them access to various professional networks.

Important topics that you ought to study to clear entrance examination of PGDM in Hyderabad

The entrance examinations conducted by the PGDM Colleges in Hyderabad has become a lot difficult these days owing to the huge amount of competition that the students are required to face to sail through the examination and win a seat in the top colleges of Hyderabad. Thus, it becomes quite essential for the serious aspirants to start their preparation early if they wish to pursue PGDM in Hyderabad.

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An essential element of the entrance examination comes in the form of the different topics which one must prepare in the various section that forms the part of the entrance examination. The entrance examination usually consists of 3 sections, namely:

  • Quantitative Aptitude
  • Verbal and reading comprehension
  • Data interpretation & logical reasoning

 

The aspirant is required to excel in each and every section because for scoring a good percentile the PGDM aspirant is required to clear the sectional cut off and thus qualify for the group discussion and personal interview round.

 

We tell you the important topics that you ought to study and excel in order to score well in the entrance examination and take your dream seat in the PGDM colleges in the beautiful city of Hyderabad. Have a look:

 

  • Quantitative Aptitude

Quantitative aptitude is one of the most feared and challenging of all the sections you will face while preparing for the PGDM entrance examination. You are required to learn about the applications and logics behind the various theories. The important topics that you must prepare for this section include arithmetic, number system, trigonometry, geometry, probability, algebra, set theory and permutation and combination. It is of great importance to be well aware of the basic concepts of all the aforementioned topics and then move towards the application part. Start your preparation with the easy set of questions and then move towards the difficult ones.

 

  • Verbal and reading comprehension

The skills of reading comprehension and English usage are tested in this section of the entrance examination. Usually, the reading comprehension section comprises of 5-6 passages which are followed by 5 questions which one needs to answer. In the English usage part, the grammar, as well as vocabulary of the students, is checked through various questions. The questions that are asked from this section include, verbal reasoning, inference judgement, vocabulary based questions, para jumble, sentence correction, fill in the blanks and para completion. The key to excelling this section lies in being abreast with the new words and the grammar. To excel in learning new words, you can start with learning 10 new words every day. Also, to excel in the reading comprehension part, you are required to increase the reading speed and understanding the same in one go.

 

  • Data interpretation & logical reasoning

This is an important section as it is based on simulations of the situations you will face as a manager once you complete your PGDM course. The section tests your problem-solving skills. The important topics for this section are data sufficiency, Venn diagram, pie charts, family tree, syllogism and data arrangement.