Depression is more than just occasionally having the blues. Depression is a mood disorder. You feel sad and have no joy in life. You may feel that you have nothing to live for. There are many types of depression, from simple depressed mood to Major Depression - a life-threatening illness.
An International MBA is an important decision for most students not only because it involves a substantial investment of money and time, but also because it is important for making a career change for some people. For others, it is a route to making an international career while for others it is simply to seek a good alumni network.
How effective an MBA is, in meeting these end objectives, is clearly a function of what kind of program you enroll into.
In good times, it did not matter much, which B-school you went to, but in bad times like these, every decision can become important. Shorter programs have suddenly gained relevance. In some cases, students have begun to opt for lower cost programs at lesser known B-schools or even seek out specialized programs.
Should one undertake an MBA in such an environment then? While these are good times for a sabbatical, admission in B-Schools are also becoming difficult thanks to the deluge of aspirants in the current environment.
Aspirants with I-T related backgrounds face this problem more than others thanks to the increasing number of former software/hardware engineers who are on the bench these days.
One solution that is often used by students is to increase their number of applications so as to make sure that they are able to get into some school or another. This is not a right move and often works to an applicants disadvantage because he/she is unable to justify to each school why they would want to enroll for their respective program.
Others choose to apply to lower ranked schools than they should be applying to, simply because the number of applications to every school has increased.
Seeking advice can solve a lot of these problems. Talking to students and alumni from your chosen school, local representatives of overseas institutions and doing extensive research on the Internet can be a fruitful exercise in helping you making your shortlist.
Inflation provides an easy excuse for even the smallest suppliers to try and raise prices. Suppliers often see inflation as a golden opportunity to increase margins and make up for the preceding lean years where they have been forced to give you price concessions.
So what are you to do when markets are rising and negotiating power swings in favor of the sellers? Do you succumb to the widely held belief that pricing control and predictability go out the window in inflationary times?
No way! There are several negotiating tactics that you can use to achieve cost containment that is better than market performance, even when prices for everything seem to be going up.
Improve Communications - Providing your supplier with better and more robust information can reduce perceived risks and lower your costs. Share real time sales data, inventory levels, and production output figures with your supplier to increase trust and eliminate the need for your suppliers to "hedge."
Commit to a Longer Term Deal - In inflationary times suppliers have a greater ability to choose their customers. You can become more important to your supplier by committing to a long term agreement. You can also deepen the relationship through joint process improvements targeted at reducing waste or improving yields.
Ensure Future Protection - While agreeing to a long term deal can make you more valuable to your suppliers and earn you the associated benefits, agreeing to a long term, fixed price deal just as the market peaks can be one of the worst mistakes you can make.
Commodity prices are often cyclical. Negotiate the right type of price adjustment clause into your contracts so that today's price hike doesn't become permanent. Contract clauses should be structured to reflect the specific type of direct material being sourced and should allow for bi-directional price adjustments so that you can receive cost concessions when the market slows.
There are always things you can do to improve your situation. The opportunity to work with your suppliers on reducing the "soft costs" of doing business together exists irrespective of market conditions. Getting your suppliers to agree to increase the services they offer yourcompany or decreasing transactional costs through order automation, consolidated shipments, and similar process improvements are great ways for you to add value to your company, even when inflation is running wild.
An International MBA is an important decision for most students not only because it involves a substantial investment of money and time, but also because it is important for making a career change for some people. For others, it is a route to making an international career while for others it is simply to seek a good alumni network.
How effective an MBA is, in meeting these end objectives, is clearly a function of what kind of program you enroll into.
In good times, it did not matter much, which B-school you went to, but in bad times like these, every decision can become important. Shorter programs have suddenly gained relevance. In some cases, students have begun to opt for lower cost programs at lesser known B-schools or even seek out specialized programs.
Should one undertake an MBA in such an environment then? While these are good times for a sabbatical, admission in B-Schools are also becoming difficult thanks to the deluge of aspirants in the current environment.
Aspirants with I-T related backgrounds face this problem more than others thanks to the increasing number of former software/hardware engineers who are on the bench these days.
One solution that is often used by students is to increase their number of applications so as to make sure that they are able to get into some school or another. This is not a right move and often works to an applicants disadvantage because he/she is unable to justify to each school why they would want to enroll for their respective program.
Others choose to apply to lower ranked schools than they should be applying to, simply because the number of applications to every school has increased.
Seeking advice can solve a lot of these problems. Talking to students and alumni from your chosen school, local representatives of overseas institutions and doing extensive research on the Internet can be a fruitful exercise in helping you making your shortlist.
Inflation provides an easy excuse for even the smallest suppliers to try and raise prices. Suppliers often see inflation as a golden opportunity to increase margins and make up for the preceding lean years where they have been forced to give you price concessions.
So what are you to do when markets are rising and negotiating power swings in favor of the sellers? Do you succumb to the widely held belief that pricing control and predictability go out the window in inflationary times?
No way! There are several negotiating tactics that you can use to achieve cost containment that is better than market performance, even when prices for everything seem to be going up.
Improve Communications - Providing your supplier with better and more robust information can reduce perceived risks and lower your costs. Share real time sales data, inventory levels, and production output figures with your supplier to increase trust and eliminate the need for your suppliers to "hedge."
Commit to a Longer Term Deal - In inflationary times suppliers have a greater ability to choose their customers. You can become more important to your supplier by committing to a long term agreement. You can also deepen the relationship through joint process improvements targeted at reducing waste or improving yields.
Ensure Future Protection - While agreeing to a long term deal can make you more valuable to your suppliers and earn you the associated benefits, agreeing to a long term, fixed price deal just as the market peaks can be one of the worst mistakes you can make.
Commodity prices are often cyclical. Negotiate the right type of price adjustment clause into your contracts so that today's price hike doesn't become permanent. Contract clauses should be structured to reflect the specific type of direct material being sourced and should allow for bi-directional price adjustments so that you can receive cost concessions when the market slows.
There are always things you can do to improve your situation. The opportunity to work with your suppliers on reducing the "soft costs" of doing business together exists irrespective of market conditions. Getting your suppliers to agree to increase the services they offer yourcompany or decreasing transactional costs through order automation, consolidated shipments, and similar process improvements are great ways for you to add value to your company, even when inflation is running wild.
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