September 2017

You’ve updated your CV, submitted applications and finally you get the call. You’ve been asked to come in for an interview. Congratulations! Now is the time to put your best foot forward. You probably know what you should do in a job interview, but what about the things you should avoid prior to it.

1. Not doing your research

You might have the skills to do the job but do you know the how the company operates? Check the ‘About Us’ link on the company website and read their mission statement. Find out who the competition and major players in the market are.

2. Turning up late

Unless you have a very good excuse and ring ahead to rearrange, turning up late for an appointment will not endear you to any employer.

3. Dressing inappropriately

While smart casual might be the current trend, professional attire is still proper business etiquette for interviews. It’s all about first impressions.

4. Lying on your CV

Anything written on your CV could be discussed at an interview and a fabrication about your work or education record could damage your reputation in the long run.

5. Getting personal or too familiar

Avoid giving stories about how much you need the job due to the mountain of debt you’ve accrued. Also, don’t behave in a conceited or over familiar and flirty manner; it’s not a good look no matter how much you fancy your chances.

6. Appear disinterested

Fifty-five percent of hiring managers say this is a big deal-breaker in an interview, and we can’t blame them for saying this is the No. 1 thing you should not do in an interview. If you’re this bored in an interview, how will you act on the job? Employers want somebody who will bring energy and focus to their team, and will engage with the job. Acting disinterested, or failing to show enthusiasm for the opportunity, only signals to employers that you’re not interested in this job—and they’ll find a candidate instead who is.

If your interview process is lacking strategic thought, you’re likely to miss out on valuable insight — both positive and negative — on your finance candidates. This approach — or lack thereof — could lead to making the wrong hires and future retainment issues. Posting a variety of particular questions will help you uncover the passion, cultural fit, work ethic, and problem-solving abilities of your potential finance hires.

1. What are the two most basics financial statements prepared by the companies?

Financial statements are prepared in two forms:

Balance Sheet is a position statement as it refers to a particular date. It is also referred to as Statement of Sources and Application of Funds. It informs about the various sources used by the organization which is technically known as liabilities to raise the funds which are referred as assets.

Profitability Statement also is known as Profit and Loss Account. It is a period statement as it refers to a particular period. www.iibmindia.in

2. What is working capital?

By definition, working capital is current assets minus current liabilities. The working capital figure shows a financial manager how much of an organization’s cash is tied up in items such as accounts receivables and inventory. It also indicates how much cash is going to be required to pay off short-term debt and obligations over the next year.

3. What is the difference between costing and cost accounting?

Costing is the process of ascertaining costs whereas cost accounting is the process of recording various costs in a systematic manner, in order to prepare statistical date to ascertain cost.

4. What is cost accountancy? What are the objects of Cost Accountancy?

Cost accountancy is the application of costing and cost accounting principles, methods, and techniques to the science, art and practice of cost control and the ascertainment of profitability as well as the presentation of information for the purpose of managerial decision-making.

When you’re interviewing for a job, it’s not always just about what you say, but what you do – or don’t do. Hiring managers pay attention to your verbal answers, but they’re also looking at how you deliver them. Do you look them in the eye? Do you fidget, play with your pen or fold your arms across your chest? All of these nonverbal cues end up being a part of the overall impression you make.

Here is a list of five body language blunders that turn off interviewers.

1. EYE CONTACT

Two thirds of hiring managers surveyed said poor eye contact could cost you the job in an interview. Failure to look someone in the eyes sends the signal that the candidate lacks confidence. In a one-on-one interview, this is an easy problem to fix; maintain eye contact as you listen to your interviewer. But what if you’re in a group interview? “It is best to initially maintain eye contact with the person who asked the question,” “In the course of responding, the candidate should also look at other interviewers to read their nonverbal cues and keep them engaged.”

2. POOR POSTURE

Once seated, resist the temptation to lean right back into your chair and make yourself overly comfortable. Slouching into the chair or leaning to one side in the interview room can be interpreted as being indifferent or too relaxed. On the other hand remaining upright with your shoulders back and being comfortable will set the tone for the interview ahead. www.iibmindia.in

3. CONSTANT NODDING

Do not be in the habit of nodding and agreeing to everything the interviewer says. This shows you are more of a ‘yes’ person. At times, recruiters throw tricky questions to just gauge your yesman-ship. They don’t want a definitive answer but a probable and best one.

4. HANDSHAKE MISTAKES

• too loose
• too tight
• sweaty palms

A loose handshake is typically associated with lack of interest and enthusiasm. A too tight handshake can be a sign of aggression or pushiness. Sweaty palms signal nervousness. The right handshake is done with a firm (but not vice-like) grip. The perfect handshake conveys confidence. It might sound weird, but if you’re unsure about your greeting, try it out with a friend and practice a handshake

5. Speaking mistakes

• sounding apologetic
• speaking too fast

Speaking with a confident voice, in shorter sentences punctuated with breaks gives an excellent flow to any speech. Avoid talking too fast as it is hard to follow. Similarly, playing the victim, an apologetic tone of voice undermines your credibility and shows a lack of confidence.

1. Can you describe a marketing project that you successfully planned and executed?

 These types of marketing interview questions are very common. Talk about a project that you finished with positive results. Walk the hiring manager through the process, showing them how you think, plan, collaborate with others, execute, and follow up. Also touch on any challenges you were forced to overcome, and any mistakes you may have made along the way, and what you learned from them. Explain how the campaign was received, both internally and externally, and the recognition you received for it, if any.

Employers also like numbers. So, if possible, quantify the project’s success using metrics. Put them into context to give the hiring manager a clearer idea of just how successful this campaign actually was.

And remember, success has many definitions. It doesn’t necessarily have to mean everyone loved the final product. It can mean that you personally felt fulfilled by it, learned from it, or felt proud of your contributions.www.iibmindia.in

2. How would you approach a big project if you were told you had a very small budget?

 When it comes to marketing interview questions, there’s a good possibility that you’ll be asked one that is budget-related.

Not all, but most companies are frequently looking for ways to save some money. Or, they may not have a ton of it to begin with. Either way, there might be times in which you’ll have a small budget to work with, should you get the job—and the hiring manager wants to know that you can be resourceful and creative in those situations.

Be prepared to answer a question like this—and have some ideas ready for how you’d be able to run a campaign with few resources.

3. “Why do you love Marketing?”

Or, “Which aspects of our business are you passionate about?” You want to hire someone who’s both qualified and has the desire to do the work. Otherwise, why would they work for you instead of the company next door?

Part of their answer will lie in their body language and enthusiasm. The other part will lie in how concrete their answer is. Get at the details by asking a follow-up question, like: “Let’s say you’re at home, kicking around, and doing something related to marketing. What is it that you’re doing?” Perhaps they’re reading their five favorite marketing sites, or analyzing traffic patterns of websites for fun, or writing in their personal blog, or optimizing their LinkedIn profile. Whatever it is, you want to be sure they’re deeply passionate about the subject matter you’d hire them for.

4. What is the difference between marketing and selling?

Both large and small companies experience internal conflicts between the sales group and marketing group stemming from differing opinions about the role of marketing vs. the role of sales. Marketing groups tend to see sales groups as a delivery mechanism at the end of a marketing process. Sales groups tend to see marketing groups as providing a service that helps sales groups to sell more easily.

Both viewpoints depend upon perspective. If you’re in marketing, it may be difficult to perceive the complexity and multiple steps involved in selling. Similarly, those in sales are so focused on “making the numbers” that it’s difficult to appreciate the way that marketing has laid groundwork.

Regardless of which viewpoint is “correct,” the conflicts between marketing and sales groups can reduce a company’s productivity.

Take, for example, the generation of sales leads, a common marketing function. According to a recent study of 600 sales and marketing groups conducted by the research firm CSO Insights, less than a quarter of sales professionals believe that they’re getting fully qualified leads from their marketing group.

Every leader’s journey is unique. At the IIBM Institute of Business Management Master Program is all about you. Tailor the Master Program to your goals – from completing a personalised leadership development program to attending high-level networking events and undertaking applied industry projects. You will be able to choose from a range of option units and specialise in Leadership, Natural Resources or General Management.

You will be guided on your Master Program journey by experts in the field, An Master Program will offer you a wealth of advantages. Getting a higher salary after graduation, landing a top management position or even becoming your own boss is just a few of the extra advantages.

Develop priceless managerial skills

A Master Program education is usually pursued by young professionals and even by senior employees that feel up to the challenge. After some time in the professional life, it is in the human nature to conform to a certain repetitiveness and to avoid taking risks.

Master Program and their connected specialisations will teach you a lot about everything that makes a company tick and how to lead. You will learn how to:

• Manufacture, advertise and sell your products;
• Keeping the company’s finances healthy;
• Maintain a positive image of the company;
• Gather and interpret industry data;
• Hire the right people and keep them motivated;

Better chances for a higher salary

The average salary for an Master Program is considerably higher compared to the salary of an employee with a regular qualification. You can expect to earn twice as much as what you would expect to earn from a regular qualification.

Open the door to thriving career opportunities

Due to their qualification, Master program have higher chances of obtaining and holding a high-level management position. More than 50% of the Master Program Certification worldwide are senior managers or board directors. This type of position brings along a higher salary but of course also a higher responsibility and longer working hours.

According to research some of the top employers that hire the largest number in Europe include Deloitte, Ernst & Young, McKinsey, Boston Consulting Group. American companies like Apple, IBM, Procter and Gamble, and Amazon are also constantly hunting for Master Certification

Great employees spend the majority of their time helping other people succeed: Their company, their employees, their customers and vendors and suppliers… the list goes on and on.

Great employees also spend some time helping themselves succeed, both for “selfish” reasons and because their success creates success for others.

To succeed you must stand out from the crowd. Here are six ways:

1. Be Loyal

Businesses commonly have limited staff members, and every employee is important. Therefore, managers expect loyalty from workers, especially in small operations because so much is riding on individuals’ commitment and dedication to keeping up productivity levels. Loyalty is what will need to get you noticed because it will often be backed up by your dedication to your work, which then leads to good results and business growth.www.iibmindia.in

2. Be proactive.

• Take responsibility for what you do. Be accountable for any mistakes you make.
• Learn all you can about the organization and your role.
• Learn how to do all the tasks that are part of your job.
• Take initiative. Contribute without being asked. Just make sure you’re not stepping on someone else’s toes.
• Learn a skill that will help you stand out. For example, you might become the person everyone goes to for help with a computer program or with proofreading an important email.

3. Be flexible and adaptable.

• Be aware that you can’t control everything.
• Be ready and willing to compromise.
• Be prepared for the unexpected.
• Keep learning. It will help you handle change.

4. Know The Mission

Large corporations and enterprises commonly publish the organisation’s mission statement on their websites for all the world to see, including investors and other stakeholders. In contrast, the mission statement for some small businesses may be very simple and general, such as “Serving customers with a smile.”

The mission statement is what guides daily actions and it is what the whole company is working towards. Do not just show up at work to do what you are required to do and go home. Own the company’s mission and work towards it.

5. Have a confident exterior.

It’s important to feel confident on the inside, but a winner’s confidence must show, as well. Start with the foundation – your posture. Stand up straight. Keep your shoulders back and your chest high. A slouchy demeanor reads as insecure. Second, look the part. Style your hair. Buy a stylish suit. Iron your work clothes. Finally, make sure your body language is strong and direct. When talking to your boss, look them in the eye. Practice a firm handshake. Like it or not, physicality and appearance go a long way.

Be punctual

This is the easiest thing to do but if not done it can offend a lot of people.Make it a habit to be at the meeting or at your desk ten minutes before the scheduled time.People who are punctual are always respected.Cross your heart and ask how many times you’ve missed a flight because you are late? Very rarely right?

A Group Discussion (GD) helps in problem-solving, decision making and personality assessment. It is a place where you are expected to contribute meaningfully and help arrive at a conclusion.

Mistakes to avoid in a Group Discussion.

1. Endless Talking

A GD, of course, is meant for talking and putting forth your opinions and ideas. But unlike the common perception, speaking endlessly in a GD does not make a good impression. Group discussion, as the name says, is essentially a discussion and not a one-sided mouthing. Most people think that speaking more, will work in their favour. Unfortunately, it works the other way around.

2. Emotional Outburst

It is true that everyone of us has an emotional attachment with a particular topic. This attachment should not carry you away. Often people start losing focus, get angry and deviate from the topic during an emotional outburst. Keep in mind that you are being noted. Put your opinions forward in a calm and appropriate manner.www.iibmindia.in

3. Not letting other speak

Group discussion doesn’t mean that you will not let others speak. Be interactive. Appreciate valid points, respect antagonistic views, keep your points further and encourage a debate around it.

What to do: Use phrases like, I appreciate, I second, I also have the same view point

4. Nerves

Because GD is such an important task you can become nervous. It’s normal, however, for some it can get the better of them. Nervousness can lead to stalling in the discussion as when others start talking you then hesitate to pitch in. And if you then begin to talk your body takes over, your voice quivers and your heart beats intensely. Though, with a bit of preparation and knowing how to calm your nerve you can get on with business.

5. Poor Body Language

Body language is as important as speaking. The way you use your hand gestures, eye contact, body posture, and facial expressions tells the evaluator a lot about your personality. Closed off body language such as crossed arms can suggest you are feeling uncomfortable. Pointing the finger can be a sign of negative aggression. And looking somewhere than the candidate who’s speaking tells the evaluator you don’t pay attention. Just to name a few.

How to use the mirror to prepare for challenging roles. Mirror method will help you pass your job interviews By IIBM Institute.

• a mirror
• a timer set for 30 minutes (typical interview length)
• a voice recorder (smart phone, computer, IC recorder: anything that will record your voice for playback and review)
• Use these mirror method steps to cover interview questions.

Write these 7 core interview questions 

• Tell me about yourself/walk me through your résumé.
• What are your three greatest strengths and three greatest weaknesses?
• Provide me with an example showing your leadership.
• What role do you usually play in teams?
• Tell me about a time that you had to work on a team that did not get along.
• Tell me about a time when you failed. What did you learn from the experience?
• What are your goals?

Shuffle your question cards every time you practice. Keep opening questions (“tell me about yourself” or “walk me through your résumé”) at the top of your stack and closing questions (“what else?” and Q&A) at the bottom. For all other questions, make sure to change the order every time.

This will help you to be prepared – you can never know in what order your interviewer will decide to ask her questions (interviewing is more art than science).

If you expect questions to follow a particular logical order, you might be surprised and unprepared if the interviewer follows her logic and asks the questions in a different order than you expected.

It will also help you to master your material – we build long-term memory through repetition in random order.

How to get the outcome you want from your important work conversations? Your communication soft skills will determine how successful you are at work and in business. We take our ability to communicate for granted. But if you’ve ever had a misunderstanding or conflict at work, it will be due to poor communication skills. Frustrating for managers and staff, this can lead to relationship breakdowns and these misunderstandings cost businesses time and money.

Here are five tips to boost your communication soft skills at work by IIBM Institute

1. Listen to understand

Most of us don’t listen to understand. We listen for what we want to hear, or to respond to the other person. Listening to understand is much more challenging but worth the effort.  When we are listened to, it makes us feel good – about ourselves and the other person. Be genuinely curious about the other person’s position. Resist the temptation to be wedded to a particular response or outcome for the conversation. This is probably the most important of all the communication skills to master.

2. Understand your listener’s perspective

Communication happens in the mind of the listener, so if your message is going to get through, you’ll want to understand the other person’s perspective. How might they be feeling? What pressures are they under? How might previous events have affected their outlook? Test your assumptions about their perspective.

3. Ask open questions

Open questions begin with ‘where’, ‘when’, ‘who’ ‘what’ and ‘how’. They’re great because they don’t let the other person reply with a one word yes or no answer. Using open questions results in more useful conversations because they help you get into more detail and explore each other’s’ perspectives. And remember to listen to the answer.

4. Prepare for important conversations

Many people think about what they’re going to have a conversation about. Fewer think about the outcome they want from the conversation. Before you have any conversation, consider how you want the other person to think and feel at the end, and/or what you want them to do as a result of the conversation.

Human Resource managers may ask tricky HR interview questions to save time and try to figure out what kind of employee you really are. IIBM Institute will provide top HR interview questions and will help you in preparing for the interview. when responding to HR intmailto:www.iibmindia.inerview questions keep your answers brief and to the point.  If you are faced with a difficult HR interview question, make sure you stay calm, don’t get defensive, and take a moment to think about your response before you answer the interview question.

1. Tell me about yourself.

Answer: Identify some of your main attributes and memorise them. Describe your qualifications, career history and range of skills, emphasising those skills relevant to the job on offer.

2. What have your achievements been to date?

Answer. Select an achievement that is work-related and fairly recent. Identify the skills you used in the achievement and quantify the benefit it had to the company. For example, ‘my greatest achievement has been to design and implement a new sales ledger system, bringing it in ahead of time and improving our debtors’ position significantly, saving the company 50,000 a month in interest’.

3. What do you like about your present job?

Answer: This is a straightforward HR interview question. All you have to do is make sure that your ‘likes’ correspond to the skills required for the job on offer. Be enthusiastic; describe your job as interesting and diverse but do not overdo it – after all, you are looking to leave.

4. Where would you really like to work?

“The real agenda for this HR interview question is assurance that you aren’t applying to every job opening in sight,” Never mentioning another company by name or another job title because you want to highlight all the reasons you’re perfect for this job and that you’ll give it all of your attention if achieved. A good response would be: “This is where I want to work, and this job is what I want to do.”