So, three months into the Business Leadership Program which has now entered in its full fledged glory. A plethora of courses, flying time and a number of activities, all happening at the same time. A lot of learnings and exciting times.
One such course that came and whizzed was one of my favorite ‘Business Analysis’, taught by one of the most esteemed faculty Dr. Sanjay Dhir, Chairman and Professor Strategic Management at DMS, IIT Delhi.
The course started with a ‘Bang’ and ended with a ‘Bigger Bang’. A very structured course which gave us an insight on every aspect of ‘Business Analysis’. The course was divided into four categories:
- Lectures: Which totally changed our perception of ‘lectures’
- Harvard Case Studies: Which broadened our horizon and made us think out of the box
- BABOK Presentations: Taught us about the nitty-gritties of BA
- Live Project: The most interesting aspect of the course, which totally left us wanting for more
Well, this was just the beginning and it just kept getting better and better as the course progressed.
The lectures by Dr. Sanjay Dhir made the students never miss one, which hardly happens. He emphasized on the fact that ‘Business is always about being different’ and it totally depends what we do that to be the ‘different one’. He gave us his amazing insights on strategy building and how a sustainable strategy comes with a set of ‘Trade-Offs’ and how these ‘Trade-Offs’ create a need for choice and hence decide on the ‘best possible strategy’.
The lectures really moved the students and made them to put on their thinking hats and think harder of the opportunities and understand the subject better.
Next came up with the ongoing lectures, the famous Harvard Case Studies, which certainly helped broaden our horizon and made us think in a completely different perspective, one of which was the famous ‘WalMart’, it made us understand how to sustain a business by being good at just everything.
One of the most amazing part of Dr. Sanjay’s teachings were incorporating examples of the famous business leaders, the favorite being ‘Mr. Steve Jobs’. It was one of the most interesting part among many others. The best learning is through the experience and he shared many such experiences which definitely added and enhanced our knowledge bank.
We also got to learn about the ‘Mental Blocks’ created in our mind that hampers our creative minds and hence limit us in every aspect.
Various tools which we already had studied in other courses got a new meaning in ‘Business Analysis’, for example ‘SWOT’ Analysis which we learnt got a completely new meaning in the form of SO(Strengths-Opportunities), ST(Strengths-Threats), WO(Weaknesses-Opportunities) and WT(Weaknesses-Threats). The learning was how to create opportunities out of strengths and what strengths can lead to threats which we need to work on. Also, how can we leverage and work on the weaknesses to carve out opportunities from them and eliminating the one’s that creates threats.
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The lectures laid emphasis on both external and internal environments and factors that affect the Business and how to leverage to help grow the business.
One of the most amazing learning was about the ‘Diamond-Water Paradox’ followed by ‘Judo Analysis’ and how to fit it in the Business Analysis.
The next interesting aspect of this course was ‘Working on a Live Project’. The students were asked to form groups of 5 and were asked to choose an industry with a problem that was given. The job was to work on the problem by applying the techniques of Business Analysis learned so far and get the best alternatives and solutions.
It was the best way to put to test our theoretical knowledge and deep dive in the industry chosen. It was one of the best learning experience both as a project and building up on team work.
The perspective and problems ranging in a project were diverse and once again it required putting our ‘thinking-hats’ on and coming up with the best possible solutions which could be applied to the current industry and help them solve it.
Last but not the least, Dr. Dhir laid an emphasis on following business ethics and morals which are the underlying basis of success.
At the end, to summarize –
- A lot of ‘Myths were broken’ : one being the difference between a complement and substitute product
- Exposure to ‘the real-world industry problems’ with live projects
- Learnings from ‘the experiences’ of great leaders and visionaries
- Putting ‘theoretical’ knowledge to ‘practical’ use
Hence, a great subject with the greatest teacher came to an end enriching us with best of knowledge and experience. The best thing which I would love to reiterate is ‘the management concepts’ taught ‘in the right way’. The learnings will go far and beyond and hence highest gratitude for keeping us engrossed throughout the ‘Business Analysis’ learning process with the amazing lessons.
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