Grad: B.Tech in Electronics and Instrumentation, 10th/12th/Grad: 7.8, 78.6%, 71.9%
CAT: 98.50 Percentile; Profile: GEM
Work exp : 1 year in an IT firm as a developer.
This is my MDI interview experience. (This is almost a word to word account, I came out of the venue and had typed the experience in my phone).
Date: 1:30 PM, 26-February-2020. Venue: Hyderabad.
GD-WAT topic: Can India become a 5 Trillion Dollar Economy by 2024.
There were two panelist, a female(F) in her 30s and a male(M) in his 40s.
Once I entered they seemed to be arranging some papers. I greeted them and they told me to take a seat and Introduce about myself.
Varshith: My name is Varshith & I am from this bustling city of Hyderabad where I am currently working as a software developer in Wipro where I help in developing application related to SCM management for the warehouse of my client. I am also a tetraglot and an ambivert.
*took a pause as they were still now focused on arranging papers and were murmuring something, but even when they didn’t tell me to continue or stop talking, I continued to talk after a pause of 10 seconds*
V: I am a tetraglot and an ambivert with an interest in reading diverse articles with an inclined interest in technology, all fields of sciences and e-sports..(till now they hadn’t really made an eye contact for even a couple of seconds, but I just got interrupted)
F: What did you just say ? *So they were listening*
F: What is that ?
V: It is a online sporting event where the sport in a online video game. *F smiles and nods*
F: Go on.
V: (I was kinda done, I just wanted a short crisp intro but maybe they wanted more or just didn’t listen to the starting, I wanted to put something interesting and provide a hook to steer the interview so) I also aspire to be an entrepreneur in the long run *Both smile* and that is how an MBA factors in my plan to achieve it.
F: Why do you frankly need an MBA for becoming an entrepreneur ? *Still smiling widely*
V: I do agree mam that MBA is no way a prerequisite for becoming an entrepreneur. But it is well known fact that majority of the entrepreneurial ventures do fail, case in point I read a Forbes’ article that 90% of entrepreneurial ventures do fail. To increase my chances of being successful when I do take that route, I want to make sure I am equipped with the knowledge and experience that can make me perform to the best I can and I think an MBA can facilitate that for me.
F: I mean if you want to become an entreprenuer you will do it nevertheless of being an MBA or if the failure rate is daunting. we know many such successful people.. I mean I am just trying to *shrugs and smiles*
V: I totally agree that people without an MBA have gone in that route and have been successful but in my case.
F: Ok, I get it that you have a passion, but you seem to be missing some qualities and what are those qualities that you are looking to gain via an MBA that will help you to be an entrepreneur ?
V: Yes Mam, I think that in my case doing an MBA prior to me becoming an entrepreneur is pragmatic as:
- I have currently experience as a software developer and I can’t leverage much of this knowledge when I start my own venture. But after doing an MBA and working in a managerial role like general management profile, I can work in a leadership role and learn a lot from the failures and successes that I can utilize.
- Also, 2 years of learning all the areas of management like finance,marketing,ops,HR via the rigorous curriculum in MDI and the valuable learning due to the diverse peer group will lead to a wholesome learning experience.
- The brand value of being a student in a college like MDI will help in the long run, whether in case I need some sort of funding *F smiles* or in terms of networking due to my peers who in the time frame of 7 to 10 years will be very high up in the corporate ladder or the alumni network that goes back for a few decades.
F: (still smiling) Very long time frame that is. Have you heard of an IPO ?
V: Yes mam! An IPO or an initial public offering is the process by which a company goes public and issues shares and it would do so to raise capital. That is it would dilute a certain percentage of stake in that company for the public to purchase it.
F: Okay that is fine, you must have heard of Venture Capitalists right *I nod*, So even they provide a capital for a company. So help me understand how is an IPO difference from capital raised from a VC? I mean even they take shares in the company and give capital so is funding from a VC also the same?
V: Uh.. No, I mean there is a certain overlap in both the ways of raising capital, but the primary difference would be that you would be looking for a VC when you want somebody in a advisory role. A VC could provide intelluctual insights due to his experience to the CEO or the board of directors, but when you raise capital from an IPO, it’s only the capital that you want to gain.
F: What are the different types of funding ?
V: I think few of the ways to fund would be to Bootstrap, that is when you can’t raise capital from an outside source.
F: why could someone not be able to raise capital from an outside source ?
V: It could be due to various reasons like in case he doesn’t have a prototype or a MVP for it, in which case it may not be investable from a investor point of view.
F: okay, continue.
V: The other ways to raise capital could be
- By crowdfunding, where you can see if a potential demand for your product and can put up your product on Kickstarter or Indigogo to raise capital.
- Via an IPO.
- They could pitch about their product or service and get an investment from a VC firm or a Angel Investor.
F: (As soon I said Angel Investor)Angel Investor, yeah that is what I was looking for. *Smiles*
V: *smiling* okay mam.
F: So for your venture what kind of product or service are you interested in ? Do you have something in mind ?
V: I haven’t exactly decided on what I exactly want to do.
F: So it’s a distant goal huh ?
V: Yes, I have read about entrepreneurship and I am passionate about it. Before I take that route I want to be practical about it.
F: Can you draw a comparison between Amazon and Flipkart.
(she passes a tiny notepad and I take it. I am thinking hard and fast and nothing seemed to strike me, I asked for 2 mins and drew a line to split the page. Even after a minute, nothing seemed to strike me and I was confused if I had to say I didn’t know).
F: So what have you come up with? *looking at the book*
V: *Putting the book aside* I think that one difference is the way they are being funded. Both the companies have had a significant burn rate and only Amazon has turned profitable and that’s very recently. Flipkart got it’s capital by being acquired by Walmart, whereas Amazon gets it’s capital from it’s profits of it’s AWS division.
F: Okay, what about their business model ?
V: I am not sure mam.
F: What do you know about single brand or multi-brand.
V: I haven’t heard of it, but an educated guess would be a single brand is when a company operates under a single brand, like Cloud Service and E-Commerce division come under Amazon, whereas a multi-brand would be selling different products under different name.
F: Okay *nods and turns towards M* I am done Sir.
M: *smiling widely* So Varshith, tell me about yourself more like how would you define yourself, also tell me what do you like to do ?
V: Sir, If I have to describe myself I would say that I am persistent and a multi-tasker. In my leisure time I like to play video games, read diverse articles on..
M: How often do you read ?
M: Everyday ?
V: Yes, Everyday.
F: What do you read ?
V: I read books and articles, but most of my reading I do is of articles.
F: What are these articles about ?
V: Mostly they are based on technology, science, economics , e-sports..
M: How do you read ? Is it from a website or an app or some blog.
V: Yes, usually if on social media or any notification from any of the news apps I see something interesting then I read about it.
M: What are the 5 problems that Hyderabad faces ?
V: Sir, the first I can think of is Pollution.
M: *Laughs* Have you ever been to Delhi ? Tell me some problems unique to Hyderabad ?
(I was thinking for a minute).
M: So you are living here since birth and have’t found one problem huh ?
V: *mustered a smile* Actually Sir, although I was born here and am currently staying here, I have spent significant part of my life in other metropolitan cities like Chennai and Bangalore.
M: But in the last 2 years, you haven’t seen any challenges ?
V: I have seen a few challenges, but I am not sure which problems are faced by Hyderabad that are unique to it as such.. One issue could be that the non-IT based job opportunities are very less in Hyderabad.
M: Okay, there is something I need to be cleared up. I have noticed that you south Indian people are so in love with Movies, please help me understand why so? I mean do you first of all agree with this view ?
V: Yes Sir, It is totally true. You can see people go fanatical during release of a big film star’s movie.
M: Yes, I have seen that being very pronounced in southern part of India.
V: I just think that the southern cities embrace their culture a lot and relish it. I mean out of the 36 cities that are in the list of UNESCO’s ‘creative cities of gastronomy’. And of the thousands of cities in the world, one of them is Hyderabad and majorly due to it’s Biryani which is quite well known all over.
F: To that I must agree.
M: But how is this answering my question.
V: Yes, I am trying to convey that from birth here people are inculcated and conditioned to embrace and love their culture and hence you see the love for Biryani here or love for the language in TN and in general the love for the visual art that is Movie.
M: But why ? Is it like because of some particular reason ?
V: I mean you can see that in world in the top grossing movie industries, the southern industries are in top 6 or so and..
M: That’s an outcome. As people are watching it, that is how it is. Give me the cause for it. Why are the people watching it.
V: I think it is due to the quality of the movies being released. If you watch Bollywood movies, most number of remakes are of southern flicks.
M: How do you judge a quality of a movie ?
V: The primary factors that I would judge a script is based on
- Whether the script is original and gripping with lack of any plot-holes or cliches.
- Also the cinematography and direction is very crucial as 2 directors provided with the same script can end up with outputs that are miles apart, which can be seen in real life instances of certain remakes.
- Also the acting is quite imperative as they bring the characters to life from the script.
F: How would you rate your performance in GD ?
(here’s some context as to why I was asked that question: I had actually been able to put forward only 1 point in my GD, although I did speak a few more times, other candidates too kept speaking and I stopped abruptly).
V: I would say that I should have contributed a couple of time more.
M: How many times did you speak ?
V: I just put one point forward across.
M: What other options do you have ?
V: MDI is my best call.
M: That’s not the answer.
V: I have calls from MDI, IIT Bombay , CAP call and New IIMs. (I did get a call from NITIE at a later stage).
M: If MDI is your best choice, why did you let this opportunity go. You should have grabbed it and done your best.
V: *Dang! that hit me like a truck*. Yes, I did try to put a few more point across, but other candidates were interrupting and..
M: Listen, in life valuable opportunities come far and few in between, and no one is going to give it to you. You must learn to make the most of the opportunity.
V: I did want to Sir, but I was cut short by..
M: That’s Okay! This is a competitive space, if I cut short you in life and say I will take your opportunity and you will say ‘It’s fine’ ?
V: Yes Sir! I realize what you have said. I shouldn’t have been held back.
M *smiles* Good luck.
V: Thank you.
F: Please send the next candidate in.
V: Yes mam. source QuoraMDI