Its been, perhaps, a quarter when I last wrote here.......
Life has gone through a lot in these past few months.....
Some of the major developments include :
i) Opening a Company
ii) Passing CFA - Level 2.
The latter being the centerpiece of this post.
CFA Level 2, as I would like to put it, is by far the toughest exam I have been through (rather "luckily through").
Before I proceed, I want to make a mention here that though I enrolled for the Level-2 exam way back in February, I started to prepare for the test only in the first week of May which apparently made the exam seem grueling to me.
Initially when I started to study, the Level- 2 curriculum seemed relatively less in quantity to Level -1 curriculum. I chalked out a very ambitious study plan of finishing the entire thing in eighteen days.
But as I went on with the things, everything (trust me, everything) began to take longer than planned. Every concept was a journey embarked upon and every day had deadlines missed.
It was Frustrations Galore.
After three weeks of preparations (and two weeks to final-cut), concepts had only reached the stage where they were semi-dark and abstruse.
At Level- 2, CFA Institute asks you questions by putting forth you 20 Vignettes (mini-cases) and the information in the paragraphs is to be used to answer six questions which follow every vignette.
The good part of this vignette thing is if you're good with a particular concept you're more or less certain of getting all six right, but at the same time the flip point is if you're bad you're more or less doomed to get all six wrong.
So, as they say it, it is wise to practise a few Full Length Exams before you appear for the final exam. Nonetheless, I too followed this advice.
During my fourth week of study and the last as well, I only did practise and a lot of vignettes, helping me acclimatise for the storm to come. This week was perhaps the most decisive one, as I learnt the art of acing the vignettes, finding out relevant information from the data given, making intelligence guesses and above all realising which concept is testable and which is not.
As with the Level- 1 exam, Level- 2 exam also depends a lot upon your ability to get hold of indispensable concepts (though all the concepts are indispensable yet there are a few you're almost certain of seeing in the exam, like Cash Flow Statement Analysis at Level-1, Return Concepts at Level-2 etc.).
I want to avow here that I studied for a fraction less than 5 weeks and this is what made my brain sore and my appearance washy.
If I have to offer my few cents on the preparation strategy, it would invariably be spending "TIME". Spend a lot of time grasping the material, it is lengthy, it is burdensome. Yet at the same time, it is interesting, highly practical and utterly industry oriented..........
The essence of the post is that though there is a lot of hype related to "invincibility" of CFA- Level 2, yet I believe it is absolutely doable, just hold fast to your game plan (there is no "cookie-cutter", one size fits all kind of study plan, everybody has of its own) and keep in touch with someone who is also preparing for the same....
I am a believer in the philosophy of "hard-work pays" and wish for all those who put the required diligence to come out victorious as I did, or as I put it, luckily did :-) .....
Me,
Shekhar Dutt.
Thursday, August 12, 2010
Thursday, February 25, 2010
BUDGET UNVEILED
(Only For Learners)
An attempt to elucidate the budget related processes and terminologies.
Finance Minister - Pranab Mukherjee
Date - February 26, 2010
What does the Union Budget contain?
The Union Budget is our country's annual financial statement of receipts and expenditures for the coming financial year -- similar to an individual's personal cash flow statement but prepared on an annual basis.
It contains the expected revenues (to be received) and expected expenditures (to be met) in the coming FY by the Government of India. It is supposed to be an indicator of the economic growth and the financial well being of our country.
When is the Union Budget presented?
The presentation of the Union Budget is usually done on the last working day of February. This year, however, it will be presented on February 26 as the last working day falls on a Sunday. The current budget being presented is for the coming financial year: FY 2010-11.
Who prepares Government's annual budget?
There's a separate division in the Ministry of Finance called as the 'Budget Division' to look after the preparation of the Budget.
BUDGET PROCESS
Here are the various stages through which the Union Budget goes through before it is passed in the lower house of Parliament (Lok Sabha) after which the President of India signs it and it becomes an Act:
• Every year, the 'Budget Division' under the Ministry of Finance is responsible for the preparation of the budget. All government ministries & departments send in their funds' proposals and requirements
• Based on the inputs, a Draft Budget is prepared
• The draft budget is then approved by the Finance Minister in consultation with the Prime Minister
• A final budget is then presented in the Parliament
• A discussion on the budget is held in the Parliament (regarding each ministry's grant proposals) and Finance Minister responds to questions. Revision of tax (direct & indirect) proposals are also discussed & voted upon here
• Once the grants are approved, 2 bills are introduced in the Lok Sabha : Appropriation Bill (final approval of funds to be given to each ministry) and Finance Bill (tax proposals).
Union Budget is then approve
Budget terms you should know
1. Budget estimate
The Budget estimate is an assessment of the Government's revenues and expenses for the coming FY. The government makes an assessment of the expenditure to be incurred and revenue (or income) to be received.
2. Central plan/Annual plan
The government's Five-Year plans are split into Central Plans or Annual Plans and necessary funds are allocated every year through the Union Budget to achieve the laid-out goals (social & welfare commitments).
3. Consolidated Fund of India
This is the government's savings account. All money received by government (in any form) is placed here. All expenses are met from this account. Withdrawal is subject to Parliament's authorisation.
4. Public account
It is an account where money received through transactions not relating to consolidated fund is kept.
5. Contingency Fund of India
As the name suggests, money from this account is only for contingencies (such as floods, drought, other national calamities, disasters etc). Withdrawal is subject to Parliament's authorization.
6. Revenue account
This is the income & expenditure statement of the government containing details of revenue spent in comparison with revenue received.
Revenue receipts: The government earns revenue in the form of taxes (direct and indirect taxes), duties (excise, custom), interest, and other fees collected.
Revenue expenditure: Any expenditure (other than for creation of capital asset) for the normal operation of the government is called revenue expenditure. Example, interest payments on government borrowing programme, salaries to government staff, subsidies etc.
The above expenditure must be financed from revenue receipts, ie revenue that the government earns.
7. Capital account
Alike Revenue Account, Capital Account is the statement containing details of capital expenditure incurred vis-a-vis capital receipts.
Capital receipts: They refer to the money that the government make via loans -- given to RBI, market advances, to foreign governments and other international organisations. Also, disinvestment proceeds fall into this category.
Capital expenditure: Refers to the money used up on creating capital assets (railways, express highways, airways, canals and dams, purchase of land, machinery and equipment), loans to state governments & government subsidiaries, and other investments made/incurred by the government.
8. Non-Plan expenditure
This consists of government's fixed expenditure like expenditure on defense, interest payments, subsidies and grants to states. This can be both revenue & capital in nature.
9. Plan expenditure
This consists of expenditure incurred on five-year plans and social and welfare commitments of the government (example, expenditure incurred on National Rural Employment Guarantee Scheme). Funds are allocated for this periodically.
10. Fiscal deficit
When the revenue receipts of the government falls short of its total expenditure, a fiscal deficit is created. In such a case, the Government resorts to borrowing to make good this shortfall.
11. Finance Bill
This consists of the proposed amendments to taxes (example, change in income tax slabs etc) and their impact on the Government's revenue resources.
12. Direct and indirect taxes
Direct Taxes: Taxes cut directly from salary, business income or income from other sources are called direct taxes.
Indirect Taxes: Taxes added (indirectly) to the price of goods and services are called indirect taxes. Example: sales tax, excise duty and service tax.
13. Subsidies
Monetary concession given to producers or consumers of specific goods in order to control prices and manage resources for better utilisation.
Copied and Compiled by
Shekhar Dutt.
From – Investmentyogi.com
An attempt to elucidate the budget related processes and terminologies.
Finance Minister - Pranab Mukherjee
Date - February 26, 2010
What does the Union Budget contain?
The Union Budget is our country's annual financial statement of receipts and expenditures for the coming financial year -- similar to an individual's personal cash flow statement but prepared on an annual basis.
It contains the expected revenues (to be received) and expected expenditures (to be met) in the coming FY by the Government of India. It is supposed to be an indicator of the economic growth and the financial well being of our country.
When is the Union Budget presented?
The presentation of the Union Budget is usually done on the last working day of February. This year, however, it will be presented on February 26 as the last working day falls on a Sunday. The current budget being presented is for the coming financial year: FY 2010-11.
Who prepares Government's annual budget?
There's a separate division in the Ministry of Finance called as the 'Budget Division' to look after the preparation of the Budget.
BUDGET PROCESS
Here are the various stages through which the Union Budget goes through before it is passed in the lower house of Parliament (Lok Sabha) after which the President of India signs it and it becomes an Act:
• Every year, the 'Budget Division' under the Ministry of Finance is responsible for the preparation of the budget. All government ministries & departments send in their funds' proposals and requirements
• Based on the inputs, a Draft Budget is prepared
• The draft budget is then approved by the Finance Minister in consultation with the Prime Minister
• A final budget is then presented in the Parliament
• A discussion on the budget is held in the Parliament (regarding each ministry's grant proposals) and Finance Minister responds to questions. Revision of tax (direct & indirect) proposals are also discussed & voted upon here
• Once the grants are approved, 2 bills are introduced in the Lok Sabha : Appropriation Bill (final approval of funds to be given to each ministry) and Finance Bill (tax proposals).
Union Budget is then approve
Budget terms you should know
1. Budget estimate
The Budget estimate is an assessment of the Government's revenues and expenses for the coming FY. The government makes an assessment of the expenditure to be incurred and revenue (or income) to be received.
2. Central plan/Annual plan
The government's Five-Year plans are split into Central Plans or Annual Plans and necessary funds are allocated every year through the Union Budget to achieve the laid-out goals (social & welfare commitments).
3. Consolidated Fund of India
This is the government's savings account. All money received by government (in any form) is placed here. All expenses are met from this account. Withdrawal is subject to Parliament's authorisation.
4. Public account
It is an account where money received through transactions not relating to consolidated fund is kept.
5. Contingency Fund of India
As the name suggests, money from this account is only for contingencies (such as floods, drought, other national calamities, disasters etc). Withdrawal is subject to Parliament's authorization.
6. Revenue account
This is the income & expenditure statement of the government containing details of revenue spent in comparison with revenue received.
Revenue receipts: The government earns revenue in the form of taxes (direct and indirect taxes), duties (excise, custom), interest, and other fees collected.
Revenue expenditure: Any expenditure (other than for creation of capital asset) for the normal operation of the government is called revenue expenditure. Example, interest payments on government borrowing programme, salaries to government staff, subsidies etc.
The above expenditure must be financed from revenue receipts, ie revenue that the government earns.
7. Capital account
Alike Revenue Account, Capital Account is the statement containing details of capital expenditure incurred vis-a-vis capital receipts.
Capital receipts: They refer to the money that the government make via loans -- given to RBI, market advances, to foreign governments and other international organisations. Also, disinvestment proceeds fall into this category.
Capital expenditure: Refers to the money used up on creating capital assets (railways, express highways, airways, canals and dams, purchase of land, machinery and equipment), loans to state governments & government subsidiaries, and other investments made/incurred by the government.
8. Non-Plan expenditure
This consists of government's fixed expenditure like expenditure on defense, interest payments, subsidies and grants to states. This can be both revenue & capital in nature.
9. Plan expenditure
This consists of expenditure incurred on five-year plans and social and welfare commitments of the government (example, expenditure incurred on National Rural Employment Guarantee Scheme). Funds are allocated for this periodically.
10. Fiscal deficit
When the revenue receipts of the government falls short of its total expenditure, a fiscal deficit is created. In such a case, the Government resorts to borrowing to make good this shortfall.
11. Finance Bill
This consists of the proposed amendments to taxes (example, change in income tax slabs etc) and their impact on the Government's revenue resources.
12. Direct and indirect taxes
Direct Taxes: Taxes cut directly from salary, business income or income from other sources are called direct taxes.
Indirect Taxes: Taxes added (indirectly) to the price of goods and services are called indirect taxes. Example: sales tax, excise duty and service tax.
13. Subsidies
Monetary concession given to producers or consumers of specific goods in order to control prices and manage resources for better utilisation.
Copied and Compiled by
Shekhar Dutt.
From – Investmentyogi.com
Monday, February 22, 2010
How a Bullet changed our History......
Hey people ever noticed that it was one bullet which started the World War 1 (assassination of Archduke Franz Ferdinand of Austria by Gavrilo Princip, a Serb) and after 31 Years it was one bullet again which brought an end to the goriest war ever, the World War 2 (Adolf Hitler committed suicide by shooting himself on his right temple, in his bunker along with Eva Braun).......
Wednesday, February 3, 2010
CFA Level 1 - Debrief
When I say I have been plain "lucky", I mean it.......I had many people around me, who have already cleared all the three levels of the exam, to take counseling from.......But not all who decide to take the exam have someone, who is been there, to guide them and help them from going astray......
Since knowledge is best used when shared.......I want to share here the debrief of the entire studying process, from skipping lunches to sleepless december nights, everything required to take you there.....
a) First things First - Have a plethora of studying material around you. From schweser notes to CFA Institute curriculum books. Get hold of random videos, ppts etc if you can (they are generally not helpful but keep giving you scholarly feeling).
b) Make a study schedule - Plan, segregate, divide, ponder. Planning is of utmost importance. Some concepts require a longer spree and some are just passe'. I have seen and have rather been a victim of non-adherence at times, and it may drag you back so badly that recovery will seem inconceivable. I kept procrastinating Alternative Investments and suffered in the final exam ( I have 50% - 70% band in this section ).
In my opinion, start with an easy topic like Quant. and jump onto a longer (when I say longer it means absolute Brute force) section like FSA (Book 3).
My week wise distribution (also in the order I did them) (when I say Book 3 etc., I mean books of Schweser) -
1) Quant. - 2 Weeks
2) FSA (Book 3) - 1 Month (at least)
3) Corporate Finance - 1 Week
4) Economics - 3 Weeks
5) Fixed Income (Bonds and all) - 3 Weeks
6) Equity Investments (Last Part of Book 4) - 1 Week (Easiest of all, bonus round)
7) Portfolio Management (Middle Part of Book 4) - 1 Week (Maximum)
8) Derivatives (Book 5, All the Options, Swaps etc.) - 2 weeks (has some complex theories, need to redo them time & again)
9) Ethics - 2 Weeks (I did only Schweser, but this is STRICTLY not suggested, CFAI Book is a must)
10) Alternative Investments - 1 week
(The above schedule is both squeezable as well as expandable, depending upon the time you can devote. Though I consider mysely as a Quick Learner, yet I spent 1-2 hours in the initial months and 3-4 hours in the later months everyday studying).
People say that it's enough to study from Schweser, but truly speaking I had to read the whole bunch of CFA Institute books to get clarity. Considering the bulkiness of the CFAI books, it may seem that reading CFAI Books may take long, but there are many things which just require a vision are not important (you'll yourself realise it while you'll study from CFAI books).
Do not leave a single word (rest aside any topic) from the Schweser books. These books are divine and should be consummated. Do every test at the end of the chapters. They are easy and will motivate you (getting 70-80% accuracy in these tests will certainly take you there).
c) Taste the Tests - I tried finishing the curriculum by 1st November, but as it turned out, the entire Ethics and Alternative Investment thing was still pending till 10th November. Eventually I finished both of the topics simultaneously in 2 weeks.
I gave a super-quick revision to the topics in the last week of November and that certainly is a scary experience when you go through each topic and half of the things appear to you as if being read for the first time.
Finally started the last week before the exam and I took an off from the office. No mock exam, no full length exam, no Sample Test till now. No nothing that could judge the preparation level.
Gave a Sample test on Monday and failed by 1 mark ( I assume so as my friend who had a mark more than me passed). 5 days to exam. Spent 20-22 hours per day in last 4 days. Not feeling confident at all. Wish could postpone the exam. Thus came the Saturday, flown to the test center location.Had print-outs of the Mock exams and their solutions, so kept studying the questions rather than solving them. Stayed at friend's company's guest house. I thought that I'll push off to sleep around 11 but "just one last topic" revision syndrome didn't let me sleep till 3 in the morning. Got up at 6 and rushed to the test center. Reached the center at 8 AM. Not at all feeling drowsy. First exam finished. Simpler than I expected it to be. Conducted at the HIGHEST possible level of professionalism. wowwwww..... had a quick meal, off to second exam. It was a bit tougher than the first exam but was still doable.
Out I came. It's been less than 15 hours of sleep in the entire week. Yet not at all exhausted. The next few days are gonna be fun.
Almost 45 days hence, Outcome - "Pass".
Ecstacy and Jubiliance.
d) In a Nutshell -
- It's tough to study if you're working.
- Once the time will pass, You may have to look out for small-small patches of time to cover the things up. Like skipping lunches, not cashing upon a lucrative dinner offer, missing a relative's retirement party, missing the most exciting cricket match India has ever played etc.
- Do make a circle or a group with whom you can discuss your doubts with and can keep a track of your progress vis-a-vis other group members.
- Things will not be so clear in the first reading, second reading will reveal many new secrets, third reading will take you there. So don't worry if after first reading you end up feeling if it's Chinese written over there.
- Lastly, have faith in your abilities.
There are many who have done it earlier as well so its not something absolutely divine.
I wish you all the best and expect the same from you guys as even my story is unfinished yet......
Since knowledge is best used when shared.......I want to share here the debrief of the entire studying process, from skipping lunches to sleepless december nights, everything required to take you there.....
a) First things First - Have a plethora of studying material around you. From schweser notes to CFA Institute curriculum books. Get hold of random videos, ppts etc if you can (they are generally not helpful but keep giving you scholarly feeling).
b) Make a study schedule - Plan, segregate, divide, ponder. Planning is of utmost importance. Some concepts require a longer spree and some are just passe'. I have seen and have rather been a victim of non-adherence at times, and it may drag you back so badly that recovery will seem inconceivable. I kept procrastinating Alternative Investments and suffered in the final exam ( I have 50% - 70% band in this section ).
In my opinion, start with an easy topic like Quant. and jump onto a longer (when I say longer it means absolute Brute force) section like FSA (Book 3).
My week wise distribution (also in the order I did them) (when I say Book 3 etc., I mean books of Schweser) -
1) Quant. - 2 Weeks
2) FSA (Book 3) - 1 Month (at least)
3) Corporate Finance - 1 Week
4) Economics - 3 Weeks
5) Fixed Income (Bonds and all) - 3 Weeks
6) Equity Investments (Last Part of Book 4) - 1 Week (Easiest of all, bonus round)
7) Portfolio Management (Middle Part of Book 4) - 1 Week (Maximum)
8) Derivatives (Book 5, All the Options, Swaps etc.) - 2 weeks (has some complex theories, need to redo them time & again)
9) Ethics - 2 Weeks (I did only Schweser, but this is STRICTLY not suggested, CFAI Book is a must)
10) Alternative Investments - 1 week
(The above schedule is both squeezable as well as expandable, depending upon the time you can devote. Though I consider mysely as a Quick Learner, yet I spent 1-2 hours in the initial months and 3-4 hours in the later months everyday studying).
People say that it's enough to study from Schweser, but truly speaking I had to read the whole bunch of CFA Institute books to get clarity. Considering the bulkiness of the CFAI books, it may seem that reading CFAI Books may take long, but there are many things which just require a vision are not important (you'll yourself realise it while you'll study from CFAI books).
Do not leave a single word (rest aside any topic) from the Schweser books. These books are divine and should be consummated. Do every test at the end of the chapters. They are easy and will motivate you (getting 70-80% accuracy in these tests will certainly take you there).
c) Taste the Tests - I tried finishing the curriculum by 1st November, but as it turned out, the entire Ethics and Alternative Investment thing was still pending till 10th November. Eventually I finished both of the topics simultaneously in 2 weeks.
I gave a super-quick revision to the topics in the last week of November and that certainly is a scary experience when you go through each topic and half of the things appear to you as if being read for the first time.
Finally started the last week before the exam and I took an off from the office. No mock exam, no full length exam, no Sample Test till now. No nothing that could judge the preparation level.
Gave a Sample test on Monday and failed by 1 mark ( I assume so as my friend who had a mark more than me passed). 5 days to exam. Spent 20-22 hours per day in last 4 days. Not feeling confident at all. Wish could postpone the exam. Thus came the Saturday, flown to the test center location.Had print-outs of the Mock exams and their solutions, so kept studying the questions rather than solving them. Stayed at friend's company's guest house. I thought that I'll push off to sleep around 11 but "just one last topic" revision syndrome didn't let me sleep till 3 in the morning. Got up at 6 and rushed to the test center. Reached the center at 8 AM. Not at all feeling drowsy. First exam finished. Simpler than I expected it to be. Conducted at the HIGHEST possible level of professionalism. wowwwww..... had a quick meal, off to second exam. It was a bit tougher than the first exam but was still doable.
Out I came. It's been less than 15 hours of sleep in the entire week. Yet not at all exhausted. The next few days are gonna be fun.
Almost 45 days hence, Outcome - "Pass".
Ecstacy and Jubiliance.
d) In a Nutshell -
- It's tough to study if you're working.
- Once the time will pass, You may have to look out for small-small patches of time to cover the things up. Like skipping lunches, not cashing upon a lucrative dinner offer, missing a relative's retirement party, missing the most exciting cricket match India has ever played etc.
- Do make a circle or a group with whom you can discuss your doubts with and can keep a track of your progress vis-a-vis other group members.
- Things will not be so clear in the first reading, second reading will reveal many new secrets, third reading will take you there. So don't worry if after first reading you end up feeling if it's Chinese written over there.
- Lastly, have faith in your abilities.
There are many who have done it earlier as well so its not something absolutely divine.
I wish you all the best and expect the same from you guys as even my story is unfinished yet......
Saturday, January 2, 2010
Frigid Feelings.....
People its the second day of the decade and its probably the coldest day of the season as well.....
while the blower is blowing its own trumpet yet its getting increasingly tough for him to downplay this 1 degrees Celsius iciness.....my fingers are already numb and the brain is following.....
hoping for the SUN GOD to appear and give us some warmth......
LET THERE BE LIGHT......amen.....
while the blower is blowing its own trumpet yet its getting increasingly tough for him to downplay this 1 degrees Celsius iciness.....my fingers are already numb and the brain is following.....
hoping for the SUN GOD to appear and give us some warmth......
LET THERE BE LIGHT......amen.....
Friday, December 18, 2009
Avatar !!!!!!
Perhaps among the very first on this planet to write a characterization of the epic-movie "AVATAR"........
Went to watch the pre-release premiere of perhaps the most awaited movie of the year. All movie I kept wondering how come the phrase, AVATAR. Though the answer may seem plausible to some but, at least, not to me.
Not sure how firangis will endure this marathon but it was kind of a typical, wishful, fairy-tale movie....With everything you could well expect to happen.....Graphics were superb and may be termed as the sunrise of a new era in (animated) movies but the flip point of under-deliverance still remains....A lot of hype may have led to this but I believe benchmarks are meant to be adhered to. If Mr. Cameron has raised his bar, then I feel, he should have lived upto it.
Not sure if it's even a one time watch but I'm sure this movie is not very far from being aired on some movies channel......so people plan your tickets accordingly....
Signing off,
Me.
Went to watch the pre-release premiere of perhaps the most awaited movie of the year. All movie I kept wondering how come the phrase, AVATAR. Though the answer may seem plausible to some but, at least, not to me.
Not sure how firangis will endure this marathon but it was kind of a typical, wishful, fairy-tale movie....With everything you could well expect to happen.....Graphics were superb and may be termed as the sunrise of a new era in (animated) movies but the flip point of under-deliverance still remains....A lot of hype may have led to this but I believe benchmarks are meant to be adhered to. If Mr. Cameron has raised his bar, then I feel, he should have lived upto it.
Not sure if it's even a one time watch but I'm sure this movie is not very far from being aired on some movies channel......so people plan your tickets accordingly....
Signing off,
Me.
Thursday, December 17, 2009
Strong Attack or Strong Defence....
Last night was just pondering over the strategies used by various companies to gain or to hold onto their market shares. Majority of the articles encouraged "attacking or aggressive" strategy as the most prescribed strategy for gaining market share. But I didn't seem to agree.
I am working in a company which has been a market leader earlier, lost its place to competitors when it decided to aggressively attack the market. Though a boom did build up, it eventually left the company cash strapped and we lost four places to wind up at number five. "What went wrong" became the case study at many B-Schools. Recently an IIM-C prof conducted a thorough research of the events and was surprised to see the "unhoped-for" outcomes of our aggressive stances.
What I've studied in my MBA stands disapproved when I consider these events. We've been taught aggressive attacking techniques in our curriculum but all of them stand refuted in context to my present organization.
To add icing on the cake, I am amazed to see our organizations revival. It is being led by a strong defensive strategy, which prohibits selling on an accrual basis, i.e., no credit......WOW..... Strategy Books here is an Exception..... Growth based on defensive plans of action.
Signing off
Me.....
I am working in a company which has been a market leader earlier, lost its place to competitors when it decided to aggressively attack the market. Though a boom did build up, it eventually left the company cash strapped and we lost four places to wind up at number five. "What went wrong" became the case study at many B-Schools. Recently an IIM-C prof conducted a thorough research of the events and was surprised to see the "unhoped-for" outcomes of our aggressive stances.
What I've studied in my MBA stands disapproved when I consider these events. We've been taught aggressive attacking techniques in our curriculum but all of them stand refuted in context to my present organization.
To add icing on the cake, I am amazed to see our organizations revival. It is being led by a strong defensive strategy, which prohibits selling on an accrual basis, i.e., no credit......WOW..... Strategy Books here is an Exception..... Growth based on defensive plans of action.
Signing off
Me.....
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