Since the other ISB blogs have extensively covered the core term classes, I shall refrain from further stressing the few details that are there...
Instead, I was thinking of trade-off , which seems to be the central concept of all the classes in this term and I am sure for many of the courses that are yet to come! Trade off is basically having to choose some product becos of the several constraints we face, resulting in trading off our real/best choice.
Well if u see,
Financial accounting: It is always a choice between increasing ur assets [by further investment] or retaining the profits and not taking further risks [actually this is the course where we discussed trade offs to the minimum]
Marketing Managment: There is a trade off in marketing two similar items from the same company, or in choosing one marketing strategy over another equally good one.
Statisitcs: This course helps u decide using statistical methods, which would be better trade-off - A or B?
Economics: The basis of this course itself is, peoples' choices - essentially trade-offs- resulting in supply-demand and so on..
Isnt it interesting the simple choices we make like Bournvita over Complan, Lux over Cinthol, Maruti over Hyundai are studied so extensively [of course there are complex ones too..I just dont know about them!].. And the corporate giants really need us MBA's to study that stuff and help them ....HaHaHaHa...
But on a serious note, [I always seem to have one at the end of a post]...Isnt life full of choices? difficult ones that too? Like, having fun or working hard, Career or family, money or satisfaction, etc. etc....There are some choices that cant be undone - so think again and again, again and again.. and finally dont forget to stick with ur choice, whatever the trade off maybe!
Before I get lost, here is something that happened in class today..
There was this PPT slide up in front of us..and I was reading it before the Prof reached it... there was this word that I just could not understand and it dint make any sense in the context either. The word was "apply" and maybe too much reading got on to me and I was reading the word as apple -y , u know wat I mean? something like an apple!!!! And when the Prof finally prounounced the word apply... I was so full of wisdom. See thats wat happens when u read too many complex things - u tend to think even simple things must be complicated!!! So long friends, Catch ya later!