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.

3 Reasons Why Smaller Teams Are More Efficient Than Bigger Teams

“If You Can’t Feed A Team With Two Pizzas, It’s Too Large.” – Jeff Bezos (Founder and CEO Amazon)

 

A common rule followed at Amazon, the reason behind this is pretty simple. More people means more thoughts, more communication, more politics, more chaos and more of everything that would slow the process even further. As fascinating as all of this sounds, it is indeed true. Many studies have shown that smaller teams are much more productive and faster when it comes to a particular task than a larger team.

A report called “The State of The American Workplace,” has found that smaller companies often have more engaged employees. If we look into the statistics, almost 42% of the small company employees were engaged at work against only 30% of the employees at large companies. In our PGDM College in Hyderabad, we stress a lot upon team building and teaching out students to work in team.

Our professors of PGDM in Hyderabad feel that small teams work better. There are a lot of stories to back this conclusion. Below is a list of three such studies:

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  1. Social Loafing

A study done by Alan Ingham in 1970s on the concept of ‘social loafing’ concludes that the tendency to make an effort by any individual decreases as the size of the team increases. The reason behind this it is difficult to extract the full potential of each person in a bigger team. So every individual thinks, “I do not really need to work as hard as I can as there are other people who can fill the void and anyways nobody would ever know how hard I am pulling individually.”

  1. Ringelmann Effect

Ringelmann Effect is the tendency of each team member to become less productive as the size of the team increases. Professor Maximilien Ringelmann was a French Professor of agricultural engineering who based this concept on an experiment. He arranged a tug of war competition and noted that when there is only one person pulling the rope, he gives his 100% but as the number of individual increases, the individual effort goes down.

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  1. Relational Loss

You must have noticed this all your life. A class at school is always divided into small groups of friends and as this group of friends increases, it tends to break further into sub groups and so on. So why this happens? A study conducted by professor Jennifer Mueller based in San Diego describes this concept as “Relational Loss.” It says that as the size of the team increases, each individual feels less and less supported by others. A perception grows among the individuals that how would a single manager be able to provide support to such large group of people. Also how would he be able to evaluate each person properly, thus growing a sense of uncertainty that your work won’t be appreciated, thereby adversely affecting the productivity of each individual.

The ‘two pizza rule’ can be a good basis to maintain the efficiency and productivity of the organisation. The smaller teams are not only more agile and nimble, but are also more innovative and successful.

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.

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.

PLACEMENTS 2017 AT VJIM INDICATES AN EVEN MORE SUCCESSFUL SEASON AHEAD FOR CLASS 2018

When picking up Business Schools, the one thing that’s always at the back our minds is the fact that we need to get placed and placed well. In this regard, Vignana Jyothi Institute of Management (VJIM), Hyderabad, one of the top PGDM schools in the India has maintained a stellar over the past few years and ensured that not only do its students get quality education they get exposure and finally assimilation in the mainstream professional world.

Looking back at 2017 is a powerful talisman of what can be very well expected in 2018. Droves of FMCG companies, tech companies and even real estate firms sweep in to hire VJIM students for their unique grasp on management education.

Deloitte, ITC, Tech Mahindra, TIME Education, Conduira Online, ICICI Bank, HDFC, Shriram Housing Finance wile the rest were picked by AutoRabit, Schindler, Fitch Ratings, Nestle Godrej Consumer Products. The average salary so far touched Rs. 5.4 lacs per annum with eighty percent median at Rs 5.0 lacs pa. The minimum salary offered to a student this year was Rs. 4.0 lacs per annum and highest offered, was Rs. 6.5 lacs per annum.

The placement brochure of Vignana Jyothi Institute of Management says that they strive to provide differentiators that cannot be termed ‘ordinary’ or ‘suitable for all’. They do believe that the so called competitive differentiators i.e. aspects that make VJIM unique when compared to other players in their field. It forms the basis of their success and will allow them growth in a competitive and dynamic business market environment.

Students who were asked look into the past, they were filled with pride that they who once who once studied at VJIM are now working with giant conglomerates and are fraternising with top people in the industry. Vignana Jyothi Institute of Management trains them well within the framework of rigorous curriculum and moulds them a certain way which really shine at the Alumni Meet. The alumni network believes in carrying forward the people who study and helping them around and beyond placement.

To put it in clearer terms let’s hear what an alumni, Michael Jackson, placed with ACT Fibernet has to say, “VJIM was an opening to a new culture, a new language [and] new environment. It transformed me to a socially responsible manager. And I strongly believe that patience and perseverance are the key to success.”

Admission is now open for PGDM Class 2017- 2019. For more details, visit: http://www.vjim.edu.in

How J. V. R. Ravikanth of VJIM, Hyderabad bagged placement through a National level process involving 2000 candidates?

Mechanical engineer J. V. R. Ravikanth of VJIM, Hyderabad, one of the top PGDM schools of Hyderabad had four years of work experience as a Sales Engineer with a manufacturing company. But he believes that his professional journey was inadequate as he didn’t even understand the concepts of sales and marketing. Doing his PGDM at VJIM, Hyderabad helped him grasp the concepts, get practical exposure and reposition himself in the industry. The confidence helped him ace the National level placement process for a noted brand like Berger Paints.

Ravikanth was chosen as a Sales officer trainee amongst 2000 participants from all over the country. He talks to us about the rigorous placement process and how he came out trumps.

Stealing the show in National level placements

The placement for a renowned brand not only had aspirants from all over the country competing but also included four demanding rounds. The written test was followed by a Group discussion with company representatives, an interview with a panel including GM – Marketing & HR Manager, and video conference interview with VP (Marketing), Area sales manager, HR Head & one HR executive.

If that wasn’t intimidating enough, Ravikanth reveals the unique nature of each of the rounds. “The GD focused on logical questions and decision analysis where they were looking at our body language, communication skills and ability to analyze situations. The first interview also required us to know the basics of marketing while the video conference focused on our selling skills and communications. I felt I had the right background to make an impression,” he says.

How he got his prep on at VJIM

According to Ravikanth, VJIM, Hyderabad enhanced his understanding of various industries through class assignments, term papers seminars and conferences. He also talks about his SIP with GMR Hyderabad International Airport, which boosted his learning. “My project was on the Business excellence model of GHIAL. Sometimes more than the brand of SIP company, it’s the experience you get is crucial for your future career,” he says confidently.

Ravikanth admits that he has gained this confidence with his PGDM, and wants to use it in his work space to develop an understanding of the processes and become indispensible to the company. Participating in Chrysalis, YUVA – Challenge, winning a tagline competition are all experiences that he cherishes deeply.

“These experiences make PGDM at the institute all about holistic learning. It’s important to try and understand the concepts of management so that you won’t be confused in front of the interviewer. You should also keep up with the latest trends through ET, TED Talks, Shark Tank and other avenues to give yourself the edge,” are his final words of advice.