AHMEDABAD: Declining pre-placement offers is nothing new for students of Indian Institute of Management-Ahmedabad, but declining the highest offers ever made in the institute has raised more than a few eyebrows.
Two of the six second-year post-graduate programme students of IIM-Ahmedabad who were offered the position of associates by Deutsche Bank, declined it despite their salaries, in rupee terms, was more than Rs 1 crore.
Debashish Chakravarty, one of the two students who refused the offer said, "I declined the offer because I wanted to be on my own." The challenge of entrepreneurship was more exciting for him than taking up a cushy job.
"Three other classmates and I have planned to start our own business. We plan to start production and retailing of women's lingerie," said Chakravarty, who was serving in the Army before taking voluntary retirement.
Vineeta Singh, who too rejected the Deutsche Bank offer will be joining Chakravarty, along with Bhushan Dabir and Vishal Prabhu Khan-olkar. "We did a detailed market research on women's lingerie and found huge customer dissatisfaction. We have a business plan ready," said Chakravarty.
"The financing of the project is being negotiated with venture capitalists and if everything goes as per plan we hope to be in the market with our product by next year," Chakravarty said. Source: http://timesofindia.indiatimes.com/articleshow/968988.cms
IIM-A alumni run online CAT coaching
Though the country’s six Indian Institutes of Management’s Admission Group have decided to make their Common Admission Test (CAT) online from next year, four alumni of IIM Ahmedabad have managed to beat their alma mater in the Net game.
Four students of the Post-Graduate Diploma in Business Management, who opted out of the placement process in 2007, already have a Website that imparts online coaching for CAT. The foursome, Vineeta Singh, Bhusan Davir, Vishal Prabhukhanolkar and Debashish Chakravarty, were in the news in 2007 for spurning high-paying job offers, to start a venture to manufacture a new range of lingerie.
Though this new venture did not take off, they started a Website,www.tenaday.co.in, which provides online coaching for CAT. The venture currently has about 29,000 registered users, Prabhukhanolkar told the Hindustan Times on Tuesday.
Presently, the venture is the only online CAT coaching portal in the country. Asked about what made them start an online CAT coaching site, Prabhukhanolkar said that the logistics of the admission examination was becoming a nightmare, due to the growing number of aspirants every year. “It was soon becoming imperative for the exam to go online some day,” he added.
The online examination would be much easier to mange than the current system, Prabhukhanolkar said. An IIM-A source confirmed that the online examination would cut down administrative costs, involving people travelling to places, and sending papers all over the country, with risks of leaks.
The conventional examination can be conducted from a limited number centers while the online tests can be taken from anywhere. Source: http://www.hindustantimes.com/IIM-A-alumni-run-online-CAT-coaching/Article1-295258.aspx
Past students return to IIM-A to recruit
The Indian Institutes of Management are globally renowned as transformers of bright young students into enterprising adults capable of promoting, running and leading their businesses to success at world level. There have been several examples of IIM Alumni who have succeeded in India and abroad. Graduating students from IIMs often find themselves being offered multiple job postings at top-dollar salaries. While most students opt for such high-profile placements there are few who go ahead and promote their own enterprises. Here are four young alumni from the highly rated Indian Institute of Management-Ahmedabad (IIM-A) who passed out in 2007 and promoted their own dotcom company...