Domain Preparation

FINANCE
What is Finance?
Finance is a branch of economics, a science that studies the management of funds (money
and other assets). More specifically, through financial analysis, decisions and corrective
actions can be taken regarding the collection and use of those funds so as to optimize their
use toward the objectives of an organization (states, companies and businesses) or individual.
Careers in Finance?
The study of finance is relevant to a wide range of occupations. Finance professionals enjoy a
high rate of employment in leadership positions at all levels of financial management for
careers in business, industry, government, and public or private corporations. Finance majors
typically embark on careers in corporate finance, risk management, investments, insurance,
real estate, banking, or financial planning.
What is Accounting?
Accounting is the systematic and comprehensive recording of financial transactions
pertaining to a business, and it also refers to the process of summarizing, analyzing and
reporting these transactions to oversight agencies and tax collection entities.
Financial Statements
A financial statement is a formal record of the financial activities and position of a business,
person, or other entity. Relevant financial information is presented in a structured manner and
in a form easy to understand. They typically include basic financial statements, accompanied
by a management discussion and analysis. Financial statements include:
Balance Sheet or Statement of Financial Position is the snapshot - position of a business as
on a particular date. It reports a company's assets, liabilities, and Shareholders’ equity at a
given point in time.
Income Statement or Profit & Loss account is a statement showing the income earned and
expenses incurred for a particular period. The analysis of the Profit & Loss statement
provides insights on the operations of the enterprise.
Cash Flow Statement reports on a cash flow activities, particularly its operating, investing
and financing activities. The cash flow statement is indicatives of source of cash generation
and expenditure throughout the reporting period.
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Important Topics for Interview Preparation
General
• Why Finance?
• What is the difference between Finance and Accounting?
• What are the different branches of Finance? What are the different career avenues?
Economics
Terms (Kindly be updated on the meanings and current trends for the following)
GDP, GNP, Inflation, Unemployment, Fiscal Deficit, Exchange Rate, Budget,

Current/Capital Account, Quantitative Easing, Demonetization, Eurozone
Questions:
• What are the highlights of this year’s budget? Why is the Rupee depreciating?
• What impact will Demonetization have on India’s economy both in the shorter run and the
longer Run?
• What is India’s GDP and which sectors being the major contributors? What is the difference
between FDI and FII?
• What is the Sovereign Debt Crisis of Europe?
• What was the sub-prime crisis of 2008? What is Quantitative Easing?
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HUMAN RESOURCE MANAGEMENT
Human Resource Management (HRM) is the process of acquiring, training, appraising, and
compensating employees, and of attending to their labour relations, health and safety, and
fairness concern.
Some basic concepts related to HR (Human Resources):

Maslow's Hierarchy of Needs Theory:
In 1943, a Psychologist Mr. Abraham Harold Maslow suggested a Theory of Human

Motivation. According to Maslow, human behaviour is related to his needs. In hierarchy of
needs theory, Maslow identified five types / sets of human need arranged in a hierarchy of
their importance and priority. He concluded that when one set of needs is satisfied, it ceases
to be a motivating factor. Thereafter, the next set of needs in the hierarchy order takes its
place. These needs in hierarchy can be compared to a pyramid.
Link: http://www.netmba.com/mgmt/ob/motivation/maslow/
Herzberg’s two factor Theory:

In 1959, Frederick Herzberg, a behavioural scientist proposed a two-factor theory or the
motivator-hygiene theory. Hygiene factors are those job factors which are essential for
existence of motivation at workplace. These do not lead to positive satisfaction for long-term.
But if these factors are absent/non-existent at workplace, then they lead to dissatisfaction.
Motivational factors yield positive satisfaction. These factors motivate the employees for a
superior performance. These factors are called satisfiers. These are factors involved in
performing the job. Employees find these factors intrinsically rewarding.
Link: http://www.netmba.com/mgmt/ob/motivation/herzberg/
The above-mentioned concepts are only indicative.
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Some of the profiles or roles played by HR managers in an organization are as follows:
• Talent acquisition (staffing)
• Organization Talent Development
• Compensation and Benefits
• Industrial Relations
• HR Analytics
• HR Consultants
• Change Management
• Learning & Development officer
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SYSTEMS
Systems management is primarily concerned with the incorporation of business processes
with technology. The key skill is the understanding of various hardware and software
platforms and the ability to determine the exact IT requirements of an organization based on
its processes and finer way of working. The aim is to use the latest advancements in
technology to cater to the ever-growing business needs of corporate. Systems Management
focuses on areas like e-business, IT security, IT strategy etc.
Enterprise Resource Planning

Enterprise Resource Planning (ERP) is a software designed to support and integrate almost
every functional area of a business process. The central feature of all ERP systems is a shared
database that supports multiple functions used by different business units. In practice, this
means that employees in different divisions—for example, accounting and sales—can rely on
the same information for their specific needs.
By integrating the business processes, the ERP offers the following advantages:
- Saves time and expenses.
- Allows faster decision-making by the management
- Single data source and sharing of data among all the units of an organization
- Helps in tracking every transaction that takes place in an organization, from starting till end
Software development life cycle
The software development life cycle (SDLC), also referred to as the application development
life-cycle, is a term used in systems engineering, information systems, and software
engineering to describe a process for planning, creating, testing, and deploying an
information system. The SDLC aims to produce a high-quality software that meets or exceeds
customer expectations, reaches completion within times and cost estimates.
Phases of SDLC:
- Planning and Requirement Analysis Defining Requirements
- Designing the product architecture Building or Developing the Product
- Testing the Product and deployment in market Maintenance & Disposal
SDLC Models
The most important and popular SDLC models followed in the industry:
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- Waterfall Model Iterative Model Spiral Model
- V-Model
- Big Bang Model
Internet of Things:
Internet of things is the interconnection of physical devices embedded with electronics,
software, sensors, and network connectivity that enables the devices to share information
among themselves. This information sharing can be done over a connected network, mostly
over the internet. Humans can interact with the gadgets to set them up, give them instructions
or access the data, but the devices do most of the work on their own without human
intervention. Research group Gartner predicts that 4.9 billion connected devices will be in use
this year, and the number will reach 25 billion by 2020.
The following are some of the top IoT platforms on the market today:
- Amazon Web Services
- Microsoft Azure
- Thing Worx IoT
- Platform IBM's Watson
Cloud Computing:
Cloud computing means instead of all the computer hardware and software that you're using
sitting on your desktop, or somewhere inside your company's network, it is provided for you
as a service by another company and accessed over the Internet. These services are broadly
divided into three categories: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS)
and Software-as-a-Service (SaaS). Different types of clouds:
1) Public Cloud - A public cloud is one in which the services & infrastructure are provided
off-site over the Internet. These clouds offer the greatest level of efficiency in shared
resources.
2) Private Cloud - The private cloud delivers all the agility, scalability, and efficiency of the
public cloud, but it also provides greater levels of control and security.
3) Hybrid Cloud - By using a Hybrid approach, Companies can maintain control of
internally managed private cloud while at the same time relying on the public cloud as
needed.
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Big Data
Big data is used to describe huge amount of structured & unstructured data, normally running
into terabytes & exabytes (1 Terabyte = 1012 bytes, Exabyte = 1018 bytes).
Big data is characterized by 3 Vs:
1) Volume: This refers to the size of data. Years of transactional data, data coming from
machines, sensors, social media etc. contribute to a huge volume.
2) Velocity: Speed with which data is generated.
3) Variety: Different formats of data – text, numeric, unstructured data in the form of videos,
audio etc.
Current Trends in Information Technology

1. Internet of Things and new IT reality in connectivity
2. Tech disruption in Financial sector and their effect post demonetisation
3. Artificial Intelligence Today and Tomorrow
4. Indian IT Industry: 2018 and Beyond
5. Data Security and Privacy issues over Cloud computing
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CONSULTING
Consulting is all about solving problems and developing strategies to improve efficiency and
performance in businesses or functions. Many consulting firms also use business-related case
studies to test candidates' ability to think commercially, but guesstimates isolate your core
critical thinking abilities from your knowledge of the industry you're hoping to join. This
means interviewers can assess how you respond to unfamiliar situations and your raw ability
to succeed in the job. To check the business acumen of an individual, companies/colleges
come up with Guesstimate problems in interviews. This is used to test the analytical skills of
an individual, problem solving capability, thought process, structural approach and
innovation. Find below some of the tips and techniques to get an edge over Others in such
problems.
1. Thinking on your feet
Don't panic. This part of the interview is designed to test your ability to remain calm, act
rationally and think logically, whatever is thrown at you.
2. Logical thought process
Whether your methodology is top-down or bottom-up, interviewers want to see that you can
break down a problem, identify the most important issues and work through them in a logical
manner to find a solution.
3. Common sense
A thorough understanding of the problem and using complex calculations to solve it are all
very well, but they're useless Without a bit of common sense and practical reasoning. You
need to show interviewers that you have general awareness of business practices, people and
how the world works.
4. Numeracy skills
Brainteasers will usually involve a bit of mathematics. The ability to do basic adding,
subtracting, multiplying and dividing on the spot and under pressure is important in
consulting.
5. Communication skills
Consulting is a client-focused business in which you'll often have to persuade clients to put
your strategies into practice. You'll also be expected to work in teams to deliver the most
effective solutions. So being able to think out loud and to verbally justify your reasoning in a
clear and succinct way is crucial.
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TYPICAL FRAMEWORKS
SWOT Analysis
PESTLE
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Porter’s 5 forces
Supply Chain Analysis
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GUESSTIMATE
How many gallons of white house paint are sold in the U.S. every year?
THE "START BIG" APPROACH: If you're not sure where to begin, start with the basic
assumption that there are 270 million people in the U.S. (Or 25 million businesses, depending
on the question). If there are 270 million people in the United States, perhaps half of them
live in houses (or 135 million people). The average family size is about three people, so there
would be 45 million houses in the United States. Let's add another 10 percent to that for
second houses and houses used for purposes besides residential. So, there are about 50
million houses.
If houses are painted every 10 years on average (notice how we deftly make that number easy
to work with), then there are 5 million houses painted every year. Assuming that one gallon
of paint covers 100 square feet of wall, and that the average house has 2,000 square feet of
wall to cover, then each house needs 20 gallons of paint. So, 100 million gallons of paint is
sold per year (5 million houses x 20 gallons). (Note: If you want to be fancy, you can ask
your interviewer Whether you should include inner walls as well!) If 80 percent of all houses
are White, then 80 million gallons of white paint is sold each year. (Don't forget that last
step!)
THE "START SMALL" APPROACH: You could also start small, and take a town of 27,000
(about 1/10,000 of the population). If you use the same assumption that half the town lives in
houses in groups of three, then there are 4,500 houses, plus another 10 percent, then there are
5,000 houses worry about, painted every 10 years, 500 houses are being painted in any given
year. If each house has 2,000 square feet of wall, and each gallon of paint covers 100 square
feet, then each house needs 20 gallons - and so 10,000 gallons of house paint is sold each
year in your typical town. Perhaps 8,000 of those are white. Multiply by 10,000 - you have 80
million gallons.
Your interviewer may then ask you how you would actually get that number, on the job, if
necessary. Use your creativity -contacting major paint producers would be smart, putting in a
call to HUD's statistics arm could help, or even conducting a small sample of the second
calculation in a few representative towns is possible.
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Some Practice Questions
1. How many births are there in America each day?
2. How many petrol stations are there in Sydney?
3. How many bottles of wine are consumed in France each month?
4. How many cups of tea are drunk in England each day?
5. How far does the average Premiership footballer run in a single game?
6. How much does Mount Kilimanjaro weigh?
7. How many pounds are spent on haircuts in the UK each year?
8. How many ping-pong balls will fit inside a Boeing 737?
9. How many weddings are performed in China each year?
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MARKETING
What is Marketing?
Marketing is the action or business of promoting and selling products or services, including
market research and advertising.
Is Sales and Marketing the same?
The answer is a big NO! Sales is one of the final stages in marketing which involves carrying
out transactions with the end customers, i.e., exchanging of products for cash.
Some facts about Marketing:
Until the 1950’s
A firm focusing on a production orientation specializes in producing as much as possible of a
given product or service. Thus, this signifies a firm exploiting economies of scale until the
minimum efficient scale is reached. Product Quality of the product
Until the 1960’s
A firm employing a product orientation is chiefly concerned with the quality of its own
product. A firm would also assume that if its product was of a high standard, people would
buy and consume the product. Selling Quality of the product
1950’s and 1960’s
A firm using a sales orientation focuses primarily on the selling/promotion of a particular
product, and not determining new consumer desires as such. Consequently, this entails
simply selling an already existing product, and using promotion techniques to attain the
highest sales possible. Marketing Needs and wants of customers
1970s to the present day
The ‘marketing orientation’ is perhaps the most common orientation used in contemporary
marketing. It involves a firm essentially basing its marketing plans around the marketing
concept, thus supplying products to suit new consumer tastes. Holistic Marketing
Everything matters in marketing
21st century The holistic marketing concept looks at marketing as a complex activity and
acknowledges that everything matters in marketing and a broad and integrated perspective is
necessary in developing, designing and implementing marketing programs and activities
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Important concepts in Marketing:
STP (Segmentation, Targeting, Positioning)

a. Segmentation — This involves dividing the market into segments. This can be based upon
various criteria upon which we can classify groups of people who can buy the product. E.g.:
Market for cars can be classified income wise, i.e., a group of people who can afford a 1 lakh
car, some people can afford a 5-lakh car and some 20 lakhs and so on.
b. Targeting — This involves deciding which group of the market we are targeting, i.e., for
whom are we creating this product/service?
c. Positioning — This involves positioning the product/service based on the target market.
So, with the positioning per a target segment, the product will attract that set of customers.
4Ps of marketing
• Product — This signifies the product or the service the company is bringing to the
market, its key features, its USP’s (Unique Selling propositions).
• Place — This signifies the placement of the product/service. It includes where the
product will be visible to the consumers and where they can buy it.
• Price — This signifies the pricing strategy of the product. It includes at what price
point the product/service will be sold to the target segment.
• Promotion — This involves the strategy with which the company will attract
customers and promote its product in various media (print, TV, social).
Important Terminologies – B2C marketing, B2B marketing, Digital and Social Media
Marketing, Guerrilla Marketing.
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ENTREPRENEURSHIP
What is Entrepreneurship?
Entrepreneurship, in its essence of following a passion, playing to innate strengths and
making a difference to people around by building an enterprise, has become a way of life.
Why Entrepreneurship?
• Freedom from being an employee
• Early self-life by handling the topmost level of your organization
• Happiness of generating employment and contributing to the society
• Learning a lot about various aspects of business, let it be finance, marketing or any
other managerial area
Important Topics for Interview Preparation
B-Plan
Questions:
1) What idea of business do you have?
2) Explain your B-Plan (Business Plan)?
3) What is your model of business?
4) Why do you think your idea is a viable idea? What is the social issue you will be
solving?
Marketing Perspectives –USP, Target Market, Break Even Point
Questions:
• Who is your major target customer?
• Who are your major competitors?
• What are the weaknesses you might face?
• What are the opportunities available?
• When will you reach the Break Even Point?
Financial Perspective –Capital Required, Venture Capitalists, Angel Investors
Questions:
1) How much capital you may require?
2) Do you have enough capital to start your venture? If not, then what are your source of
funding?
3) Are you thinking to approach any Venture Capitalist (VCs) or Angel Investor?
4) What is the difference between the Venture Capitalist and Angel Investor?
5) What are the typical returns of various investment products like bonds, mutual funds
etc.? What were the various scams in Indian Stock Markets?
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OPERATIONS AND SUPPLY CHAIN
Have you ever wondered:
• What is the level of detail that goes into planning the delivery of any product to your
home?
• How are the firms able to create great value for customers while reducing the cost of
delivering goods and services?
• How critical is efficient delivery of goods and services for a firm which sometimes is
solely responsible for its success or even survival in some cases?
• How important are innovation and exploitation of technologies for a firm to gain
competitive advantage over others?
The integration of global economy has forced the organizations today to deliver supplies and
products from one place to another at the right time with the lowest possible cost, maintaining
the desired quality standards simultaneously. The whole process involves the integration &
application of statistics, software, technological advancements and innovative ideas.
Operations and supply chain management will help you to answer the above questions and
foresee the disruptions on the horizon. It deals with getting work done quickly, efficiently,
without any error, at lowest possible cost. “Operations” refers to the processes used for
transformation of resources employed by a firm into products and services desired by
customers. “Supply” on the contrary, deals with the movement of materials and services to
and from the transformation processes of the firm.
Trending topics in Operations and Supply Chain Management
1) Job Profiles in Operations & Supply Chain Domain
http://www.careers-in-business.com/om.htm
http://www.careersinsupplychain.ca/careers-scm/
2) Challenges and Opportunities in Manufacturing Sector
http://www.ibef.org/industry/manufacturing-sector-india.aspx
http://ficci.in/Sedocument/20348/India-Risk-Survey-2016.pdf
3) Technological Innovation in Supply Chains
https://www.koganpage.com/article/8-key-innovations-that-will-transform-the-supply-chain-
logistics-industry
4) Operations Management v/s Supply Chain Management
https://www.floridatechonline.com/blog/process-improvement/supply-chain-management-vs-
operations-management/
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5) How critical is Supply Chain management to retail sector and FMCGs?
https://e27.co/challenging-existing-fundamentals-logistics-supply-chain
https://www.sdcexec.com/sourcing-procurement/news/10358095/six-key-trends-changing-
the-supply-chain-management-today
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FINANCE

GDP, GNP, Inflation, Unemployment, Fiscal Deficit, Exchange Rate, Budget,

Some basic concepts related to HR (Human Resources):

In 1943, a Psychologist Mr. Abraham Harold Maslow suggested a Theory of Human

Herzberg’s two factor Theory:

The above-mentioned concepts are only indicative.

Enterprise Resource Planning

Current Trends in Information Technology

Supply Chain Analysis

STP (Segmentation, Targeting, Positioning)

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