« Week 10 » Manage your time well!
Welcome!
The 10th iteration of the newsletter is here!. If you have not checked yet - “How you can get maximum out of the newsletter!”
Relevant links are provided in the title of the section itself, for further reading. Here is the sectional outline of this edition!
Week 10
|— Concepts
|— — — Decision Model: PESTEL Analysis
|— — — Product Metrics: Metrics for Referral Program
|— — — Soft Skills: Effective business writing
|— Articles
|— — — Industry Analysis: Biotechnology Industry
|— — — Biz-Tech News: Highlights
|— — — Preparation Articles: Develop A Winning Mindset
|— Tests
|— — — Estimation Guess: 5 Puzzles of the week
|— — — Puzzles: Profitability | Urea Manufacturer
|— — — Quantitative Aptitude: Mba Rendezvous (Full Length) 2/6
|— Questions
|— — — Case Interview: Profitability | Urea Manufacturer
|— — — Product Interview: Revolute Case Study and Solution
|— — — HR Interview: Time Management Questions
Concepts
~ Section covering the theory part of the business world, which are tested in the interviews.
Decision Model: PESTEL Analysis
This concept is used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service, etc.
PESTLE is a mnemonic which in its expanded form denotes P for Political, E for Economic, S for Social, T for Technological, L for Legal, and E for Environmental. It gives a bird’s eye view of the whole environment from many different angles that one wants to check and keep a track of while contemplating a certain idea/plan.
Political
These factors determine the extent to which a government may influence the economy or a certain industry.
Economic
These factors are determinants of an economy’s performance that directly impacts a company and have resonating long term effects.
Social
These factors scrutinize the social environment of the market, and gauge determinants like cultural trends, demographics, population analytics, etc.
Technological
These factors pertain to innovations in technology that may affect the operations of the industry and the market favourably or unfavourably.
Legal
These factors have both external and internal sides. There are certain laws that affect the business environment in a certain country while there are certain policies that companies maintain for themselves.
Environmental
These factors include all those that influence or are determined by the surrounding environment.
Product Metrics: Metrics for Referral Program
The Two Main Roles in a Referral Program
People who learn about it, and then, join to send referrals. These are your Advocates. Their role is to promote and spread information about your brand to others.
People whom advocates tell about your program. And although it may not be the ideal label, we refer to them as Friends. They act on the referral link and engage with your brand.
Metrics to track:
Participation Rate (Advocates)
In short, this metric describes the number of people you’ve reached with the program, who have also signed up to tell others about your brand.
Share Rate (Advocates)
Share rate reveals how many Advocates actually send referrals, once they join your program, and how many times every they share your program.
Impressions/Reach (Friends)
The role of Advocates is to spread information about your brand via the program. And so, once you establish how well you’ve optimized it for that to happen, the next logical step is to monitor the reach of those efforts.
Response/Conversion Rate
Finally, you need to know how many Friends have acted on the referral after getting to your site via the program – signed up for your product or completed any other action required.
Soft Skills: Effective business writing
Top take-aways from the article "How to Write For the Way Your Coworkers Actually Read"
Start with the end goal in mind
Clear and prominent call to action
Front loading the crucial stuffs
Skim-able information
Chunking related items together
Use of plain english
Neat structure
Using visual stories when possible
Articles
~ Section on various articles which open a new horizon of thinking and builds critical analysis skills.
Industry Analysis: Biotechnology Industry
India is among the top 12 destinations for biotechnology worldwide. The industry comprises >2,700 biotech start-ups and >2,500 biotech companies in the country.
Indian biotechnology is built on entrepreneurship, innovation, developing domestic talent and demonstrating value-based care.
Bharat Biotech plans to produce 10 types of vaccines including malaria and COVID-19 with a total investment of Rs. 300 crore (US$ 40.54 million) at its upcoming unit in Bhubaneswar, Odisha.
Biotechnology Industry Research Assistance Council (BIRAC) established by the Department of Biotechnology (DBT) is aimed at strengthening and empowering the emerging biotechnology enterprises to undertake strategic research and innovation.
The Indian Council of Medical Research (ICMR) selected 12 institutes for the clinical trials of the country’s first indigenous COVID-19 vaccine.
Biotechnology Parks and Incubators are established across the country by the Department of Biotechnology (DBT), under the Ministry of Science and Technology, to translate research into products and services by providing necessary infrastructure support.
Biz-Tech News: Highlights
Top news of the week
Preparation Articles: Develop A Winning Mindset
“The best performers set goals that are not about the outcome but about the process of reaching the outcome.”
We never arrive. We work hard to succeed, and then we have to work twice as hard to maintain that success.
Never just rely on your gift or talent alone. Work on your craft. Investigate your weaknesses and make an effort to minimize them.
You have to give yourself credit for small gains. They build momentum and provide much-needed life lessons.
You have to have trust that your ideas will work. That doesn’t mean you shouldn't make adjustments within your business.
Be willing to take action, even potentially incorrect action. Correct it later, and make it a habit.
Tests
~ Section to test our aptitude skills and number crunching skills!
Estimation Guess: Renewable waste capacity
The solid biofuels and renewable waste capacity in the south Asian country of India was over ten thousand megawatts in 2019, an increase from a capacity of approximately 10,124 megawatts in 2018. A linear increase in the capacity of solid biofuel and renewable waste was seen in the country over the years from 2009.
Puzzles: 5 Puzzles of the week
Try these Puzzles from George J Summers Book
21 The Drummer
22 Middle Apartment
23 The Three Towns
24 Face Orientation
25 Change Required
Quantitative Aptitude: Mba Rendezvous (Full Length) 2/6
Get a free aptitude test (CAT mock) from Mba Rendezvous. (Test 2)
Link: https://mocktest.mbarendezvous.com/cat/set2
Practice Questions
~ Section to build our critical analysis and reasoning!
Case Questions: Profitability | Urea Manufacturer
7th edition of the IIM-A Case Book
Your client is a manufacturer of urea. They have recently seen a decline in their revenues. Identify the potential reasons and recommend a solution.
The question and solution is Case 9: Profitablity | Urea Manufacturer
Product Questions: Revolute Case Study and Solution
The link to case is in the title.
This resource is available at pmschool.io!
HR Questions: Time Management Questions
Time management is an important aspect of any professional role, regardless of the industry in which you work. The ability to manage your time impacts your productivity and reflects how well you can manage your resources.
When answering, describe a situation in which you made one task a priority over another without sacrificing any other responsibilities that you needed to complete.
Distractions and disruptions are everywhere, so it will be helpful at any point in your career to develop a plan that helps you stay focused at work.
Your ability to meet deadlines reflects on your overall time management skills and your ability to adapt to new responsibilities.
Balancing your personal life with your work needs also shows that you are an adaptable person with a wide variety of interests and skills.
Thank you!
I would suggest you follow the method of "make slight changes while practising". Also, I would like you to have a small group (2-5 members) who would keep the check on progress.
Feel free to drop me a mail for any suggestions or ideas!