Management from a Homemaker’s Lens

The word Management as defined in the dictionary means the process of dealing and coordinating with people. Management is a never-ending loop that begins when one gets up in the morning and ends when one sets the alarm for the next day and goes to sleep.

 Management is always conceptualized as a fancy degree from a Business school and jargons like Presentations, Entrepreneurship, SWOT, ROI, etc. Management is inevitably present and significant in all these fields, but what we often forget is that management is applicable in all walks of life. It covers all facets of our lives. We ignore this fact because we have been so used to doing these roles that we have forgotten about the management nature. Even a trip to Goa with friends or relatives requires proper planning so to effectively manage one’s schedule for an enriching experience.

 If we deep dive into our daily life schedule, I see my mother implementing all my MBA lessons in some way and the best part is though those decisions or acts of her do not bring any life-changing decisions but are pivotal for the smooth functioning of the house.

 The duties of a homemaker are frequently looked down upon, but as we look closely, we can see that becoming a homemaker demands immense management skills. One of the most difficult examples of management is managing an entire family, taking care of everyone’s special needs, settling petty conflicts among children, maintaining the bonds intact, ensuring food is prepared on time. All this might sound so simple when we compare it to the life of an MBA graduate but it is equally challenging and complex.

 If we draw an analogy between the life of a manager and a homemaker, it is quite indistinguishable. The only difference is the nature of the work they both execute. Just like in an organization, A manager is the one responsible for streamlining the tasks, planning things ahead of time so that the needs of the clients are fulfilled on time, and addressing the grievances of its employees. In the same fashion, Homemakers must plan for the whole family, predict future challenges, multitask and make the most use of their resources, and be armed with plans for any last-minute hiccups.

 Let us take a few examples where we see homemakers implementing various concepts of MBA.

 Before buying any vegetable, she does a SWOT analysis for it and checks for if it is the best available product in the market.

She keeps a close record of all house expenses and makes sure every expense is recorded and gets tallied with the money she has in hand. In some or the other way, she exhibits great accounting skills.

She doesn’t have a degree but yes she is a perfect manager and a successful leader.

About the Author
Sakshi Poddar a Computer Science Engineer by qualification is now pursuing MBA(Analytics from IIM Kashipur. She is a part of various student bodies like the Media and Public Relations Committee and Admission Support Body. She is an IT professional with 2 years of experience in Hewlett Packard Enterprise. She loves traveling and dancing. You can connect with her on LinkedIn

Consilium - the Consulting and Strategy Club | IIM Kashipur

Opportunities! “Consultants must find newer opportunities. If you can’t find one, create one.” This is precisely what Consilium strives to do – creating opportunities!

Consilium, the academic club of IIM Kashipur deals with Strategy and Consulting aspects of  Management. Since its inception, Consilium is determined to assist the students with preparation, comprehension and expertise in this domain. The club continuously collects and updates relevant resources to enhance the knowledge of the community. With the changing business dynamics across the globe and shift in the recent global order, Consilium ensures that the students are equipped with the latest trends and have hands-on learning experience throughout the academic year.

Established with the vision of nurturing students to become the future leaders in the domain of consulting and business strategy, Consilium has been consistently working in this direction by conducting case study competitions, knowledge sharing seminars, guesstimate workshops and the most anticipated-industry interactions.

The Domain

“Without strategy, execution is aimless. Without execution, strategy is useless.” – Morris Chang

Consultants often find themselves interacting with different verticals and domains of the business. It requires solving problems not just through single domain optimization but via a collective approach encompassing all domains. The problems can be visualized with say an example where an organization wishes to analyze the pros and cons of venturing into a new market, which will require an understanding of marketing, finance, supply chain, operations, and a fair knowledge of relevance between all of these. That is where strategy comes into play. The methodology does not limit to one vertical but through a broader lens for looking at multiple domains.

Roadmap

The journey with Consilium starts with the very first month in the MBA curriculum at IIM Kashipur, where students are provided with the introduction to Strategy Frameworks, Consulting interview questions and reference materials. These resources assist students not just to gain a perspective in the domain, but also to comprehend highlights of the practices that are used in further stages.

Moving forward, Consilium provides a variety of hands-on opportunities through case competitions, business simulations, questionnaires and industry connections. The club is managed by Executive members who have demonstrated the knowledge and expertise at National level having a flavour of participating and winning reputed B-school and corporate case study competitions like Flipkart Wired, Thoucentric Bottoms Up, etc.

Consilium Insider

Consilium’s monthly newsletter shares the best practices, strategies and changing dynamics from different industries ranging from sports, FMCG, Petrochemical to latest Industry 4.0. Further, the newsletter comprises frameworks and their usage in real-life business problems from these industries. The club also ensures that the resources are not just limited to a monthly basis, and provide consistent updates through our social media channels.

The theme for the November Newsletter had been Covid-19 impact on business strategies covering the impact on the Sports and Oil industry along with the role of Digital trends in business expansion.

ForeSight Series

“It’s not about money or connections – it’s the willingness to outwork and outlearn everyone…And if it fails, you learn from what happened and do a better job next time.” – Mark Cuban

In Foresight Series, the academic experience in consulting and strategy is tested through gamified quizzes, guesstimates and infographics. Foresight comprises three events throughout the year, offering a constant opportunity to compete with peers and test their mettle in solving real-world problems. Due to pandemic, Foresight 4.1 was conducted online with a mix of quiz to cover domain knowledge and guesstimates problems to prepare students for interviews.

Industry Connect

Consilium brings together experience from industry leaders in the consulting and strategy domain. Students get to explore from real-life experiences of consultants and explore insights from the challenges they face, the thought process behind critical decisions taken and the key takeaways from years of experience in the domain.

EndGame

EndGame is a national level simulation designed on a business scenario wherein the students walk the consultants’ shoes and apply their knowledge to compete with peers from other B-schools. It involves the application of academic knowledge from various facets of decision making, marketing and economics. It also tests the strategic forecasting and understanding of competitive dynamics in real-life situations. Further, the event demonstrates the presence of zero-sum game, to create similarity with as much real-world dynamics as possible.

Consulting Knights and Ranbhoomi

Consulting Knights and Ranbhoomi provides a diverse and enriching experience in solving cases at Pan-India level. Students utilize their knowledge of all disciplines to prepare strategies for business cases in teams. This event is organized in collaboration with various organizations like Havish M Consulting, to get an essence of existing business problems.

Consilium Conversations

In the academic year 2020-21, the club initiated a strategy-talk series “Consilium Conversations” wherein it invites budding entrepreneurs and industry stalwarts from various domains for a conversational interview. It focusses on unearthing the strategies that go behind creating a successful business or project. The motive behind the series is to inspire the students to develop strong critical-thinking skills required in strategy & consulting roles and learn about the latest developments in the industry. With each initiative, Consilium creates a robust environment for the students to learn and challenge themselves in the field of consulting and strategy.

Is Market Share still a Competitive Edge?

You might be bemused how our cows became relevant to businesses, that too when the matrix originated in the West. Yes, we are talking of the BCG’s growth-share matrix which is considered so much relevant for the adequate allocation of resources to exploit the growth opportunities.

If you are hearing to a strategy class in any of the B-schools, you are bound to get past this framework which talks of cows, dogs, cash and finally a question mark. You might be bemused how our cows became relevant to businesses, that too when the matrix originated in the West. Yes, we are talking of the BCG’s growth-share matrix which is considered so much relevant for the adequate allocation of resources to exploit the growth opportunities.cash-cow

Rather than describing the nitty-gritty of this matrix, which you are so much cognizant of, we would like to share our views regarding the relevance of its two measures, especially in today’s context.  We are afraid, the two measures of competitiveness, more specifically the market share axis, seem to have lost its pertinence.

Let’s analyze this with the two, not-so-old developments. Take Nokia, with such a huge market share during its heyday, and a high growth, it would have been shining as a star, enjoying an indomitable position vis-a-vis its peers. Or at least as it matured, it would be peacefully sleeping like a cow, with eyes wide open, seeing its competitors struggle and chewing the dollars cashing in. Aghast! Its situation is so contrary. With its operations around the world, assets in the shape of factories, R&D investments, probably patents too, it got bought by our most omnipresent OS provider for a mere $7.2 billion, who hardly had any grasp over mobile handset business.

star

On the contrary, check the valuation of your new messaging tool, hey Whats-app!, it’s worth $19 billion without a factory or an assembly line and other physical assets. Isn’t technology more prominent than market share? There is definitely a next big thing being designed as you read this, so Whatsapp don’t sleep like a cow or be complacent of your shining stars. Businesses are evolving fast, your market share might not be the true testimony of your sustainability in the future. So should we evolve the BCG ‘growth-share’ matrix to ‘growth-technology’ matrix?

Blessen Mathai

Consilium

Consilium