Success mantra shared by Mr. Raghuttama Rao at IIM Udaipur

It is always a sense of great joy and excitement when students of IIM Udaipur meet an eminent business personality. Preserving the legacy of industry interaction, the students of IIMU had the privilege of having Mr. Raghuttama Rao CEO & Managing Director at ICRA Management Consulting on campus.

1487323_776108022452198_2333536330710525040_n Picture Source : MMA, Chennai

Mr. Rao started his excellent career with undergraduate from IIT Madras; post which he did his MBA from IIM Ahmedabad. He was a Fulbright Scholar at Carnegie Mellon University Pittsburgh, USA where he gained proficiency in Cost Accounting. Being a member of ICRA’s start-up team, Mr. Rao has contributed to developing many areas of ICRA’s business, including Credit Rating, Management Consulting, and Research. He has served on ICRA’s Rating Committee for about ten years and has experience across several sectors, including infrastructure, banking/finance, structured finance, manufacturing, and energy.

Sharing his experience, Mr. Rao first emphasized the importance of economics and accounting in finance. He said that most students and even industry experts in finance domain lack the conceptual understanding of accounting and economics and hence are unable to deal with unprecedented scenarios. He recalled the amount of struggle he faced while learning cost accounting but said that the hard work paid off in the end.

Mr. Rao explained that the students should come to know their strengths and weaknesses in deciding the career path. He stressed on focusing on those streams that fit with what the students are good at, and what they really enjoy doing. Hence, in terms of consulting, Mr. Rao asked the students to ponder upon two fundamental questions: “What is Consulting?” and “Am I fit for it?” before joining the field in the first place. He also explained that consulting is as much about people skills as it is about analytics. Exclaiming that at the heart of consulting is marketing; he said that communication skills, both verbal and written, are essential to the domain. He mentioned that though multi-domain knowledge is helpful in consulting, one should try to have an expert level knowledge about one or two fields and that one should be used to unprecedented situations as consulting usually presents with unstructured problems.

Accentuating on maintaining health, Mr. Rao said that one should always maintain a balance between money and fitness. In addition, he said that one should use this time in MBA to read as much as possible about many streams and decide which way to go. He also said that one should dig deep inside and figure out the right reason for pursuing entrepreneurship and exclaimed that in entrepreneurship, one has many bosses.

After the session, he was asked numerous questions by students ranging from how to prepare for the summer internship to the importance of certificates for various streams. The students of IIM Udaipur are glad and thankful they had the privilege of meeting Mr. Raghuttama Rao and get an insight into consulting, finance and entrepreneurship.

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Things which differentiate IIM Udaipur – Entrepreneurship!

The economies in nations across the world are facing saturation of opportunities and cut throat competitions in complex business environments. The need of the hour is to not just build and run successful businesses but to carry an entrepreneurial mindset in any career role chosen by the future managers. IIM Udaipur follows a pedagogy which strives to inculcate the spirit of entrepreneurship in its students.

Under the leadership of IIMU’s visionary DirectorProf. Janat Shah, the institute has taken several initiatives to foster the spirit of entrepreneurship in the institute’s foundation. Students are given ample opportunities to develop into effective self-starters and self-motivated leaders who can generate employment options for others as well and hence add value in the economy and society. The Director himself conducts Open House Idea Sessions with the students where the students put forward their plans which are discussed and brainstormed among the peers to enhance their implementation potential and directives. Faculty provides mentoring to the students to help them in shaping their ideas into ventures.

A number of eminent speakers who left the cushions of job security and created reputed ventures are invited to the campus to conduct sessions for the students. The PGP office also aids the strengthening of the entrepreneurial space of students by introduction of subjects like Entrepreneurship, Social Entrepreneurship, Courses of Independent Study etc. which promote students to learn the trade while integrating the lessons into their academic grading and evaluation. Placement Holidays are also provided to students along with seed capital help for incubation of ventures and deferred back up placements offers so that students can independently and dedicatedly work on their business models without losing on their other career options.

Several students driven activities have been running out of campus and in the areas in & around the vicinity of local community. SakshamThe Entrepreneurship Club of IIMU promotes the culture of entrepreneurship through the strata of its events and activities like Ideate Start-up Workshop, B-Plan Competitions, Live Projects et al. The success of its flagship event, PrarambhThe 32 Hour Start Up Challenge, a one of its kind event in India and the award of Best Debutant Entrepreneurship Cell in the North Zone given by National Entrepreneurship Network (NEN) showcase the testimony of the excellent efforts put by the club in sustaining the culture of entrepreneurship in the campus. Prominent tie ups with bodies like NEN, The Indus Entrepreneurs (TiE), Rajasthan Angel Investors Network (RAIN), Microsoft Ventures, 91 Spring Board, Cynapta and Start-Up Oasis among others are increasingly establishing entrepreneurship as a firm pillar of the institute.