Three
fast growing companies in Nagpur namely Baidyanath Life Sciences, Puneet Super Bazar, and Rite Water (India) have selected
eighteen (18) MBA students to work on real world projects at these companies
under a highly successful program called Octave Business Advisory Group, or
OBAG run by Octave Business School, Nagpur. Interestingly all these students
are currently studying in the second semester of their PGP + MBA program at
OCTAVE. Before taking up the responsibility of executing critical work for the
above companies, the students prepared themselves by getting exposure to
subject knowledge and practical experience of building a small business
operation during their first semester under Octave Entrepreneurship Program
(OEP). As a part of this unique experience, these students worked very
successfully on entrepreneurship projects funded by OCTAVE. Each team was given
a starting capital and were assigned mentors. Within a span of 3 months, almost
all the teams generated revenues equal to four times that of the capital
provided, indeed an impressive return on capital in a record time. Students
gained valuable experience in connecting with potential customers, developing supplier
relations, managing cash, creating marketing material and sales. Rarely MBA
students reach this level of expertise and exposure within first 6 months at a
business school. OBAG is first of its kind in India to be implemented by a
business school. The genesis of the program is based on the real needs
expressed by 100 HR managers about what they expect from fresh MBA graduates.
The employers of MBA graduates have constantly complained about lack of
practical knowledge among the graduates. OBAG is designed to meet the need of
the industry. There are 3 stakeholders to make each project a success.
Involvement of a senior manager or a director from the host company ensures
that the project gets high visibility and priority inside the organization.
Also, real value is in implementing the findings otherwise it would become yet
another theoretical exercise. A mentor with industry experience is attached to
the project. His job is to guide the team whenever they are stuck while
promoting initiative taking among the team members. He also acts as a mediator
between the student team and the host company director or the sponsor. Then the
student teams, who are expected to be motivated, put in extra efforts and meet
the objectives jointly set and accepted by all three stakeholders as above. It
is a indeed a matter of pride that a business school from Nagpur has taken a
lead in bringing next level of practical experience to MBA students while
contributing significantly to local industries.