This blog is dedicated to GMAT aspirants who want tips; strategies,practice questions,learning videos and study notes on how to tackle the Reading comprehension,Problem solving, Data sufficiency and critical reasoning section of the GMAT.
Similar triangles are triangles whose sides are proportional. If ABC and PQR are two similar triangles then AB/PQ = BC/QR =AC/PR. The angles opposite to the sides(which are in a ratio) are also proportional
Area of a triangle(sides are a,b,c) is based on the hero’s formula
s= (a+b+c)/2 , R = circum radius and r= inradius
3. The sum of two sides of a triangle is greater than or equal to the third side and the difference of any
two sides is lesser than or equal to the third side. This property is used extensively in GMAT higher
difficult problems
4. For the equilateral and the isosceles triangle the altitude bisects the base and hence the triangle into
two equal parts
5. The largest triangle (with the maximum area) which can be inscribed in a circle is the equilateral
triangle.
MBA aspirants in India with reasonably good scores in the GMAT can use the score for admissions to select B. Schools within the country.
Here’s a list of those B.Schools
1. Indian School of Business, Hyderabad
2. IIM Ahmedabad’s PGPX
3. IIM Lucknow’s IPMX
4. MICA Ahmedabad
5. Great Lakes Inst of Management, Chennai
6. NMIMS Mumbai
7. IIMs for PGPX programs
8. MDI Gurgaon for fellow programs
9. Select IIMs for fellow programs
As per director of MBA admission Wharton school, the number of women in their MBA class has increased from 36% to 40%.
Similar trend has been noticed in other Business schools. Harvard Business School’s
class of 2011 is 37% female, while the University of Chicago’s Booth School of Business is 35%
and Northwestern University’s Kellogg School of Management is 33%.
Most sources say that while applying for a Bschool,it does not matter when you send your application(1 year earlier or 1 day before the deadline), because they will read your application until the application deadline passes.
But Stanford it seems have articulated a policy that they will review the admission application and inviting applications for interviews before its first round deadline passes. This has been designed in order to balance the work load of the admission committee.
Although it is advisable to rush your application procedure, it is better to apply when you think you are ready.
Gone are the days when a 30 plus executive, resigns his job, packs his bags and set out for a 2 year full time MBA, with a 700 plus GMAT score neatly tucked away in his laptop bag.
During recession, if you are not given a pink slip you are plain lucky. You hold tightly on to your present job. For you got to pay your EMIs, credit card bills and the like. Can you afford the luxury of a 2 yr study abroad? The answer is No.
The X factor
Called the executive program ( for work ex guys), the PGPX is the new hope. ‘Learn while you earn’ literally works. There are wide variety of executive programs to choose from- Indian and international.
The program duration ranges from a few weeks to one year.
ISB Hyderabad to MDI Gurgaon to INSEAD France offers such courses. Some are full time campus programs, others partly distance, partly on campus. Courses designed, delivered and certified by prestigious B.Schools. Platforms are offered by HughesNet and NIIT for videoconference lessons. The advantage aspirants can attend live lessons delivered from real campuses and interact with faculty. They can network with fellow learners form across cities.
Both public sector and private sector executives take up executive programs.
What they teach
A sense of direction, business strategies and personal effectiveness; ability to manage conflict; clarity in decision making and the skill to manage people of all dispositions and temperaments.
Course variations: I year fulltime executive program/ 1 yr certificate program(satellite), 6 month campus programs/ 5 week campus program/ online MBA
Sought after specializations
HRM
Finance
Operations
IT
General management
International business
Public management and policy
A partial list of prestigious programs
ISB’s executive MBA , IIMA’s PGPX, IIM L’s IMPX, IIM Indore’s PGCBM, XLRI’s Executive MBA, MDP(a few weeks to 6 month) of many top B Schools
NIIT Imperia, HughesNet programs, U21, e-MBA , 5 week Advanced Management program INSEAD France…
The application and interview process for non immigrant visa to US is a simple procedure.
Follow this
1.Log on to www.(ur city name).usconsulate.gov – click visas to the US.
2.Find the nearest HDFC bank and get a DD for the visa fee and the courier fee
Log on to the website with the receipt
3.Click link to ‘how to apply’. Then ‘get the forms’. Fill the DS 156 and DS 157
completely.
4.Click link to ‘schedule an appointment’.
5.Click the link to VFS (this will direct you to VFS website)before going to this
site you should have all necessary info and the fee receipt with barcode stickers.
6.Schedule your appointment after 48 hrs
7.At the VFS site click ‘apply for nonimmigrant visa’; go through every page
carefully filling in all information.
8.Your appointment letter is sent to your email address.
9.Printout your application and appointment letter. Carry these to the interview.
10.A successful visa interview would mean in three to four days you get your visa
in courier. You can check the status of your visa in the website.
Source: The Hindu
5 most overlooked points while solving GMAT number based problems (Arithmetic based problems)
1.Study the factors of a number. Factors of a numbers are numbers which can divide that number. The factors for 28 are1, 2, 4, 7, 14, 28. Factors are always smaller than a number. The number of factors for a square is always odd.
2.Study the multiples of a number. Multiples of a number are numbers which are obtained by multiplying a given number by a constant. When you want to combine two numbers use LCM. For example : What is the smallest 4 digit number which can be divided by 2,5,6,8 and 9. To solve this sum first: you would have to combine these numbers to arrive at a common number i.e.the LCM of 2,5,6,8 and 9 and then proceed to obtain the smallest 4 digit number.
3.Any number raised to the power of 4 will lead to a number (say k)whose last digit remains the same irrespective of the number of time the number is multiplied with itself.(k x k x k…..n times where n can be any integer)
4.Let a × b = c. The remainder obtained when you divide c by d is equal to the product of the remainders obtained when you divide a by d and b by d. Instead of finding the remainder of 625 when divided by 7 it would make sense find the remainder of 25 when divided by 7 and multiplying the remainder twice to get the overall remainder( 625 =25 x 25)
5.While solving number based data sufficiency problems substitution of all possible numbers (positive integers, negative integers, positive fractions, negative fractions, zero) is necessary before arriving at an answer.
For example: Is (a/b) > (c/d)
1. a > c
2. b >d
Each statement individually will not yield an answer. When the statements are taken together substitute positive numbers, negative numbers to check the consistency of the answer. Also substitute numbers which are near each other as per the number line (a=2,c=1) and numbers which are far away (a =1000, c=1)
To get a high score in the GMAT, you must be familiar with the relevant concept/formula as well as the hidden relationships accompanying the concept/formula. Many of us attempt to crack the math section of the GMAT by solving problems from sources such as the official guide.
This strategy works for people who have a strong mathematical background. For the rest of us, we have to first understand the concepts, then we have to derive relationships from the existing concepts.
Concept learning is an art. We look at a math text book and we get overwhelmed by the size. 20 odd chapters!! How am I going to master all of them? Each topic looks menacing.
But if you observe closely not all the concepts are abstract, a time speed distance problems is related to a problem based on similar triangles(geometry), a problem on roots of an equations is based on factor theorem in number system. The concepts required to crack GMAT math are inter- related.
The quantitative section is primarily focussed on number system, ratios proportion and percentages. Majority of the other concepts are based on these concepts. Focus on these areas first, then apply these concepts to study other concepts like Time and work, Geometry, Profit, loss and discount,.
So from 20 odd chapters the area of focus boils down to 3 or 4 chapters.
Also: Make derivations
While working out practice problems at the conceptual level, derive notes on where you can apply the concepts. Some of these derivations are highlighted below.
Presented below are some of the hidden relationship accompanying the concept/formula. These relationships are termed ScOT bytes which are the present through out our course material.
1. Let A and B be two numbers, then Product of A and B = HCF (A, B) × LCM (A, B)
2. (Even number)4x will always end in the digit: ‘6’,(Odd number)4x will always end in the digit: ‘1’
3. Let a × b = c. The remainder obtained when you divide c by d is equal to the product of the remainders obtained when you divide a by d and b by d.
5. If a is increased/decreased by b%, then the new value calculated after the increase is new value = a ± b% of a± (b/100) x a
7. If a same positive number is added to both the terms of ratio (of lesser inequality), then the ratio is increased.
8.If a same positive number is added to both the terms of ratio (of greater inequality), then the ratio is diminished.
9. The number of factors for a square number is always odd. For 4 there are 3 odd factors(1,2,4), for 9 there are 3 odd factors(1,3,9)...
10. Discount percentage is always calculated on list price/marked price and not on selling price.
11.If a:b = 3:4 then a and b are not equal to 3 and 4 respectively. a = 3x and b = 4xwhere x is any constant.
12. The Simple and compound interest is the same after 1 year. The amount as well as the compound interest increases by r% every year.
Where r1,r2,r3 are interests and n1,n2
and n3 are the years.
14. To convert km/hr into m/sec multiply the number by 5/18
15.Average speed can be calculated by 2ab/(a+b) where a and b are the two speeds. This formula is only applicable when the distance travelled is constant.
The general trend is that students aspiring to study abroad tend to apply for programs which they think will positively impact on their future earning potential.
If you are interested in studying for a course apply early because competition for entry to popular programs at good institutions is severe; an early application helps to secure both admit and financial support.’
Tour the tours
The US, UK, France, Italy, Spain, Australia, Singapore and Canada, are ever on the list of those foreign bound. Attending education tours organsied by established agencies will help you gain information on suitable courses, application procedures, admissions criteria, visa requirements and scholarship opportunities.
The world MBA tour is offering an unprecedented US $ 1.1 million in exclusive scholarships for MBA. They are offered to candidates only if they visit the fair in their city of choice. So go for it.
Some factors
A. Work experience: how much?
The average work experience that MBA schools generally look for in prospective students is
Three to four years, although each school has its own standards. Business schools are not faculty- focused; peer to peer interactive learning, case work, projects, presentations all demand strength of experience of the MBA students. People with some real experience can contribute to quality group participative learning. Experience can be in diverse fields and industries, not necessarily managerial.
B. Given the volatility of the dollar, the cost?
For international students this is a concern. But cost, if viewed as ‘return on investment’ will scare you less. There are various ways to fund your business education- loans and scholarships. Schools will take extra care to ensure that the right applicants are absorbed into their courses.
C. The best destination for MBA?
The best study abroad experience can differ form country to country and institution to institution. And your interests, skills, specializations. The best for one student need not be the best for another. Let your personal aims and ambitions guide you in this. Research schools on an individual basis.
D. Education loans: from home country or those on campus?
Both are sought after. Interest rate, pay back time, speed of sanction- are to be considered. The tuition fee is obviously one of the biggest costs. Market rate tuition fees, the current practice, favor students. Other expenses to be taken into account are travel, accommodation, living and compensating for time away from employment. These are not uniform and vary for students form different nationalities.
MBAs will not go out of fashion even during recession times. Most banks know that MBAs are going to be among the highest earners within a short space of time and they can work in most industries. One should not wait until an admissions decision is received to identify outside sources of funding. Keep researching for fellowships and scholarships.
E. Other forms of aid?
Savings from your employment so far, family contributions, institutional scholarships and bursaries from your department of study, assistantships and part-time employment: (teaching / research assistantships are available in many institutions for postgraduate students, who can work up to 20 hours during term time)
*Australia and Canada, allow international students to work up to 20 hours per week during their studies.
Education: Doctorate in International Law and public law from the University of Frankfurt in 1931.
Peter Drucker has been called the world’s most influential business guru, whose thinking transformed corporate management in the latter half of the 20th century. Drucker started his career as a business strategist when he was invited to do what became a seminal two-year social-scientific analysis of General Electric. In 1950 he became professor of management in the graduate business school at New York University. Drucker taught management advice with interdisciplinary lessons from history, sociology, psychology and religion. He developed one of the country’s first executive MBA programs for working professionals at Claremont Graduate University, now known as Peter F Drucker and Masatoshi lto Graduate School of Management. Few know that the management visionary actually foretold the current financial crisis and the potential involvement of the US government with the financial companies.
Books authored: His ideas on management and leadership have been published in more than thirty books. Notable among them are:
* The Practice of Management
* The Concept of the Corporation
* Managing in a Time of Great Change
* Management Challenges for the 21st Century
Key Concepts: He advocated that business should be managed by balancing a variety of needs and goals, rather than subordinating an institution to a single value. This concept of management by objectives forms the keynote of - The Practice of Management.
In 1959, Drucker coined the term ‘knowledge worker’ and pioneered the idea of privatization. Later in his life he considered knowledge work productivity to be the next frontier of management. He believed in the empowerment of workers and the futility of big government, which he called ‘obese, muscle-bound and senile’.
CEOs who used his tactics: During his long consulting career, Drucker worked with many major corporations, including General Electric, Coca- Cola, Citicorp, IBM, and Intel. Drucker also served as a consultant for various government agencies including Salvation Army and the American Red Cross.
If the new budget is any indication, aspiring students of a wide range of higher education programs overseas can avail loans from Indian banks and earn tax benefits too. This is all the more good news for MBA aspirants, since the fee for management courses abroad is very high. Taking loans for public sector banks makes sense especially for those who intend to return after completion of the course to work in the Indian subcontinent.
Criteria for loan disbursal.
Banks take into account some crucial factors in sanctioning loans
1. Whether you received confirmed admission.
2. Whether your admission is merit based.
3. Your previous qualification
4. Whether the college is ranked high
5. Future job prospects and likely income
6. Repayment capacity of the co-applicant
7. Placement record of the university
The repayment begins usually one year after the course is over. The standard repayment period is 5-7 yrs. Banks have put an upper limit on loan disbursal at 20 lac.
Let funding issues not come in the way of your career aspirations.
A systematic study plan is a necessary first step toward a high score in a tough exam such as the GMAT , a broad based study plan incorporating “The Science of Thinking” approaches.
Modify and adapt it to suit your competency level. For instance, some of you might require a basic word building before you embark on the verbal preparation.
Use the test feedback to gauge whether you need to begin at the elementary stage or at the concept stage.
Stage 1: elementary work(optional)
Math: objective -review all fundamental concepts
Material: Use workbooks – Geometry, algebra, arithmetic. Develop basic computation using Vedic math from Concept ebook. Write tables from 1x1 to 25 x 25.Learn the squares, cubes, square roots of numbers from 1 to 25.
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Disclaimer*
This is only suggestive and prescriptive. Since test aspirants vary in their needs and levels of preparation, each one should chart out intelligent plans to strengthen all areas of test.
Take home Some GMAT jargon. Jus gorge on them
Yes, you heard it right…there are words typical to GMAT verbal ( critical reasoning and reading comprehension).. here’s a list comes handy in RC/CR.
Allusion : Indirect reference to a person, place or event to another. Archaism : The use of words and expressions that have become obsolete in common speech. Burlesque : An incognito imitation; it imitates the matter or form of a play in an amusing manner. Connotation and denotation : The denotation of a word is its primary meaning; connotation is the range of accompanying meanings in which it suggests or implies. Motif and theme : A motif is an element – an incident, device or formula – which recurs frequently. Prosody : Systematic study of writing verse (poem); principles in the use of rhyme, stanza etc. Anecdote : Simple narration of a single incident. Pastoral elegy : Represents both the mourner and the one he mourns. Figurative language : Deviates from what we apprehend as the standard significance or sequence of words, in order to achieve special meaning or effect. Symbol : A word or set of words that signifies an object or event which itself signifies something else. historicism : A theory that history is determined by unchangeable laws and not by human agency or, it is a theory that all cultural phenomena are historically determined and that historians much study each period without imposing any personal or absolute value system. Historical School : A school of economics maintaining that any economic theory must be based on historical studies of economic institutions. Idealism : A philosophical system or theory that maintains that are real is of the nature of thought or that the object of external perception consists of ideas; the pursuit of high noble principles. Existentialism : A philosophical movement that stresses the individual’s position as a self-determining agent responsible for his or her own choices. Humanism : Assumes the dignity and central position of man in the universe and emphasizes on moral and practical rather than purely aesthetic values.
Admissions are open for IIM Ahmedabad’s , 1 year PGPX program. The profile of the current batch includes executives with an average age of around 34 years, average work experience of around 10 years, average international work experience of around 5 years and an average GMAT score of 720.
The program is spread over 5 terms including 5 weeks of international immersion.
The minimum age should be 27 years with a GMAT score obtained between 1st April 2006 and 10th august 2009. The short listed candidates would be called for personal interviews during September – October 2009. The program begins on 12th April 2010.
Working executives can utilize this opportunity to further their knowledge on business, decision making and the world economic scenario.
Last date of application 10th August 2009. For more information logon to http://www.iimahd.ernet.in/pgpx/pgpxone.htm or http://www.iimahd.ernet.in/pgpx/pgpx1011/login.php
Email: pgpxquery@iimahd.ernet.in
