Went to IIML for 'Next CEO'. On the second day we had an event where we were divided into 4 teams of 3 people and were told to make profits in Sabji Mandi. The team that made highest profit was Rs 160 and we were last with a profit of Rs 90. Our team consisted of IIMC guy, SIBM guy and me.
Fucking mistakes and things I learnt:
1) Never be over-confident of yourself, even if you are the best. (I made the maximum profit single handedly off all the 12 guys but still our team had the minimum Profit)
2) Always be prepared for each and every thing, even if you have easy going/over confident people in your team.
3) What we learn in Management Books, Strategic Planning is the important thing. All three of us kept working, never realizing where our profits were going.
*** Always take out time from your business, see where you are going, where you really want to go, where your competitors are going, n what better strategies are they following, it will surely benefit you ***
Remember - One minute break after an hour of CAT's exam always gave better 2nd hour's output rather working for 2 hours straight.
4) Don't trust people easily when it comes to money/competition(of ny form), people would change and would do things you had never thought off. Rationality fails when it comes to practicality. It holds good only in puzzles. (Mind you I was with best of the best IIM A,B & C guys)
5) ***Most Important: Don't hesitate to say anything when you know you are right. And be ruthless with those who don't have basic respect for others. ***
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