TOPIC-6

Agenda and Minutes of Meeting

Agenda:
As stated earlier, an agenda is the list of items to be considered at a meeting. It is also
called business or order of business. It comes from the Latin word agendum (singular)
which means ‘a thing to be done.’ But agenda (the Latin plural) is used as a singular
noun.

It is the route map of the meeting. The specimen notices above already contain a hint of
how it is written. The agenda may be a part of the notice or may be attached as an
annexure. The convenor/secretary prepares it in consultation with the chairperson and
gets his approval.

The items of agenda should cover all that is necessary to be considered at that time.
Meetings take time and effort to arrange; hence the agenda has to be well thought out.

The items may be devised from:

(a) Previous minutes

(b) Suggestions received

(c) Actions and events since last meeting

(d) Correspondence of the organization

The agenda contains routine items as well as special ones.

Here are some guidelines for listing the items:

1. Apologies from absent members (need not be written previously)

2. Condolences if any (may or may not be written previously)

3. Reading and approval of minutes of the last meet

4. Matters arising out of previous meet’s minutes (this need not always be mentioned)

5. Urgent and non-controversial items

6. Matters requiring closer discussion and debates

7. Any new, on-the-spot items with the approval of the chairman

8. Date of the next meet.

The last item in a meeting is a vote of thanks to the chairman but this need to be
mentioned. The items are mentioned briefly or elaborately according to the practice or
need.

The style used is as follows:

(i) Appointment of auditors

(ii) Induction of new members

(iii) Reading of minutes

(iv) Felicitating so-and-so on the award of Padmashri to him/her

OR

(i) To read and approve the minutes of the previous meet

(ii) To consider the advertisement draft

(iii) To organize a blood donation camp

(iv) To appoint sub-committees for sports competition and music competition

The agenda should be manageable within the time at disposal. Some clubs have a time
limit for the duration of a meeting (e.g. 90 minutes), which automatically dictates the
scope of discussion.

Minutes of the Meeting:

The minutes of a meeting are the record of the discussions/decisions therein. They
have an official status; they are useful in law, and in some cases required by law to be
written. Minutes are final when they are approved by the members of the group to which
they relate, generally in the next meeting, and signed by the chairperson.

Even if there are emotional moments in a meet, the minutes are written in an
unemotional manner, are cool, factual, impersonal, and impartial. Moreover, such are
the demands of time on most people that the minutes should be concise, boiled down to
the essentials.
Only some organizations’ require that they record the detailed discussions as well (i.e.
who said what and what were the reactions… until the decision was reached). Normally,
the body of the minute’s records.

(a) The motions and amendments thereto

(b) The proposer and seconded of motions

(c) The details of voting, if any

(d) Recommendations

(e) Decisions/ resolutions

(f) Tasks assigned to individuals, sub-committees

The overall minutes should give:

1. The name of the organization/ unit

2. Day, date, time and place

3. Number in order (e.g. 33rd meeting of…)

4. Names of chairperson and secretary

5. Names of members present

6. Names of the absent

7. Attendees by special invitation, e.g. auditor, caterer, etc.

8. Record of the transactions (on the guidelines given above)

Tips for writing minutes:

The minutes are written generally by the secretary from the notes taken during the
meet. He/she can use the agenda as the framework for writing them and use short
forms, shorthand etc. to take quick and accurate notes. He may have to ask members
to repeat their words to get them right.

He should note down all the particulars needed for the fair copy of minutes. The items of
the minutes can be written under short headings such as are used in the agenda.

(As for reading them, some committees circulate them in advance and take them as
read. Otherwise the reader should read them loudly, clearly, and quickly.)
Style wise, they use one of these constructions:
a. It was resolved that the minutes of the previous meeting be approved.

b. It was decided that a sub-committee be set up to consider

c. Resolved that a blood donation camp be held on 15 th August. (The verb is used in the
subjunctive mood: “be done, be appointed”, etc.)
TOPIC-7
A Case of Mock Interview

A Mock Interview is a practice interview designed to simulate a real job interview as

closely as possible.  Mock interviews are one of the best ways to improve interview
skills and prepare for an interview.  The practice gained in a mock interview is
invaluable. Mock interviews can be completed in person, by phone or by video
conference.  All three methods work well.  The key to success in a mock interview is
recreating the interview experience as much as possible.

Purposes/Objectives of Mock Interview

1. Practicing for actual interview.

2. Describes the manner of actual interview.

3. Develops the strategy of interview.

4. Minimize worry and anxiety prior to actual interview.

5. Aims at making firms impression effective.

6. Practicing communicating of one’s skill clearly.

Importance/Significance of Mock Interview

• Mock interviews enable candidates to have a fair idea about the sort of things they are
going to experience at actual interviews, and prepare them how accurately they can
deal with it. Generally these interviews are organized by career services where a career
coach trains the students and recent alumni for the new opportunities they can explore
by being perfect at the actual interview sessions. But, accuracy does not come
automatically. It needs a thorough practice and guidance from an expert trainer. Mock
interviews do just the exact thing with the candidates to bring them to perfection and
boost their confidence.

• Mock interviews help candidates reduce their anxiety about interviewing by training
them for the typical interview questions. The person conducting the mock interview
session is most likely an experienced interviewer and a skilled trainer, who can guide
candidates whether or not their responses are suitable, along with providing them the
most appropriate set of response they should practice. In the process the candidates
gain their confidence by having the knowledge about their strengths and shortcomings.
No one is perfect enough to execute everything faultlessly, so the purpose of these
mock interviews is to point out one’s weaknesses and guide them to bring perfection by
rectifying those.

• Mock interviews also prepare job seekers for behavioral-based issues in an interview.
In a real interview the behavioral standard is judged much by the interviewee’s body
language. So, it is very important to know how one can appear best by employing those
standard set of gestures. From the moment of entry in the interview room everything
about the posture will be marked minutely. Therefore, one needs to know very
accurately about what the things are that one should do and what not. Right from the
way of stepping into the room, greetings to the panelists, way of looking at them, style of
sitting and manner of responding to them – everything counts on. And mock interview
sessions are the best ways to gather knowledge about all these little details which are
too important to overlook.

16 Questions which are asked normally during mock interview:

The biggest style decision in a mock interview deals with follow up questions.  Some
interviewers foster a dialog with a lot of follow up questions, while others take the
answer from the job seeker and move on to the next question.  In most cases,
candidates struggle more when they are not asked follow up questions, but each job
seeker is different.  The mock interview should mimic the style of the upcoming
interview if possible.  Questions which are asked during mock interview:

• What was the toughest decision you had to make?

• Why do you want to work for this organization?

• Why should we employ you?

• If we hire you, what changes would you make?

• Can you offer a career path?

• What are you greatest strengths?

• What are you greatest weakness?

• What didn’t you like about your previous jobs you have held?

• How do you spend your leisure time?

• Are there weakness in your education or experience?

• Where do you want to five years from now?

• What are your salary expectations?

• What would you do if your computer broke down during an audit?

• What type of position you interested in?

Tell me something about yourself.

• Do you have any questions about the organisation or job?

Moldovan Coffin Maker to Exit Coffin Manufacturing Business

Case Type: new product, new technology; pricing & valuation.
Consulting Firm: McKinsey & Company first round full time job interview.
Industry Coverage: manufacturing.
Case Interview Question #00689: Our client Moldovan Coffins is a high-end coffin
maker in the country of Moldova. Moldova, officially the Republic of Moldova, is a
landlocked country in Eastern Europe located between Romania to the west and
Ukraine to the north, east, and south. Moldova declared itself an

independent  state with the same boundaries as the Moldavian

Soviet Socialist Republic in 1991 as part of the dissolution of the Soviet Union. The total
population of the country amounted to 4 million (2004 Moldovan census).
The owner of Moldovan Coffins business has seen substantial change in his market in
recent years and is contemplating the future of his business. Up until now, he has been
in the business of building high-quality, handcrafted coffins largely by hand with a skilled
labor force. Recently, however, he has become aware of a new technology that would
allow him to build machine-made coffins with much less labor. Should he invest in this
new technology? And should he even remain in the coffin-making business in the first
place? Why or why not?

Question #1: What strategic alternatives should the owner of the coffin business
consider?
Possible Answer:
If the candidate doesn’t get all of this, help them along since we need to lay this
foundation for the rest of the case – We need to decide firstly whether to stay in the
coffin business at all and if so, whether he uses the new technology:

Option 1: Sell the business to a third party

Option 2: Sell the assets of the company and shut it down
Option 3: Keep operating as is
Option 4: Keep operating and invest in the new technology

Question #2: How would you figure out the current value of the coffin business?
Provide the following additional information if the candidate asks for it clearly and
directly.
Market Size – If the candidate asks for the size of the market, first make him/her
brainstorm about different ways to determine market size. A good candidate should
come up with at least 4 different ways, such as:

 Calculate from the market’s total population, population growth, and birth rate.
 Review of death records for a period of time.
 Take sample of the number of obituaries in paper serving given population base.
 Calculate from total population, average life expectancy.

Question #3: Now make the candidate calculate the market size, giving them the
following data:
 Population of Moldova: 4 million
 Population Growth: 0%
 Average Life Expectancy: 75 years
 Age Distribution: assume a flat age distribution, i.e. same number of people at
every age.
 Burial Customs: 75% of deaths are buried in coffins.
Possible Answer:
(4 million) x (1/75) * (75%) = 40,000 coffins purchased per year.

Note that the candidate needs to quickly realize that every year, 1/75th of the total
population will turn 76 and therefore (on average) will die.
Question #4: Now make the candidate calculate the value of Moldovan Coffins’
business, giving them the following data:
Price – Coffins are priced at $5,000 for a hand-made high-end coffin.

Costs – Material accounts for 10% of the direct cost, while labor accounts for the other
90%. COGS is $4,800 per coffin. Fixed costs for the business are $700,000 per year.
Assume all assets are fully depreciated and ignore taxes.

Competition – The client Moldovan Coffins has a 10% market share and a relative
market share of about 1 (if asked, you may explain that relative market share is the ratio
of the company’s market share to that of its nearest competitor.)

Market Trends, Regulation, etc. – If asked about any exogenous factors, simply tell the
candidate to assume that the market is expected to continue as it currently is.

Possible Answer:
The candidate needs to calculate the value of the business now. This is a pure
mathematical exercise.

 Margin per coffin = $5,000 – $4,800 = $200

 Contribution Margin = $200 per coffin x 40,000 coffins x 10% market share =
$800,000
 Profit = Contribution Margin – Fixed Costs = $800,000 – $700,000 = $100,000
Assuming a discount rate of 10% (candidate can assume anything reasonable here as
long as they are consistent later), a perpetuity with cash flows of $100,000 per year has
a present value of $100,000 / 0.1 = $1 Million. So the current business is worth $1M
whether they keep it or sell it.

Question #5: So now what is the value of the company if it were shut down and the
assets were sold? Additional Information to give if asked:
Assets – Since the firm has been building coffins by hand, the fixed assets are
essentially only the land and improvements. These are owned outright by the company.

When the candidate asks for the value of the land, have them brainstorm ways that they
might determine this. They should come up with at least 3 good ways, such as:

 Look for comparable real estate and determine recent selling price.
 Find comparable commercial real estate and determine the rent per square foot,
then discount the cash flows generated by renting the property.
 Determine rate of appreciation for property in the area and then apply to book
value of current land and improvements.
Give the candidate the following information and have them calculate the value of the
property:

 Book Value of Land: $20,000

 Book Value of Improvements: $80,000
 Years Owned: 48
 Average Real Estate Appreciation: 6% / year

Possible Answer:
Using the “rule of 72″, a 6% growth rate will double the investment every 72/6 = 12
years. Since the property was held for 48 years, the current value will be $100K * (2 x 2
x 2 x 2) = $1.6M.

Since the assets ($1.6M) are higher than the value of the discounted cash flows ($1M),
then it would make more sense to liquidate the business and sell the assets.

Question #6: What would the value of the company be if the owner invests in the new
technology? Provide the following information if asked:
Investment – Investing in the new technology will cost the firm $1M.

Cost Savings – Material costs remain the same, but labor costs are reduced by 50%.

Proprietary Nature of Technology – The new coffin-making technology is being offered

for sale by a machine tool company, who holds the patent. They are not offering
exclusivity to any customers (i.e. they will sell to Moldovan Coffin’s competitors if
possible).

Competitive Threat – It is not known whether the competitors have acquired or are
planning to acquire this new coffin-making technology.

Customer Preferences – While the machine-made coffins are not “hand made”, the
quality perceived by the customer is the same or better. It is believed that the customer
will be indifferent between the quality and appearance of a hand-made and a machine-
made coffin.Brand Impact – The candidate may argue that a machine-made coffin might
negatively impact Moldovan Coffin’s brand. If so, ask them how they would test this
(e.g. consumer research), but tell them to assume that it would have negligible impact.

Possible Answer:
Since Moldovan Coffins has no proprietary control over the technology, it is likely that
competitors will also acquire it, resulting in an overall lowering of the industry cost
structure. If this is the case, price will also fall as competition cuts price in an attempt to
gain share. If we assume that gross margins remain the same, since the industry
competitive structure has not changed we can calculate the new margin contribution as
follows:

 Gross Margin = $200 / $5,000 = 4%

 Labor Cost = (4800 x 90%) x 50% = $2,160
 Material Cost = 4800 x 10% = $480
 COGS = $2,160 + $480 = $2,640
 Price = $2,640 / (1 – 4%) = $2,750
 Contribution Margin = $2,750 – $2,640 = $110 per coffin
 Profit/Loss = $110 * 4,000 – $700,000 = -$260,000
So the introduction of the new technology to the market might be expected to reduce
industry profits, making this business completely unprofitable.

Candidates could argue other scenarios, by assuming that the industry would be able to
maintain higher margins than we have assumed here, so the answer may be different.
They should recognize, however, that the introduction of this non-proprietary technology
will significantly reduce industry pricing in the absence of some other form of price
support (such as branding, collusion between players, etc.)

7. Conclusion
A star candidate will see that his/her time is nearly up and will present a
recommendation for the client without prompting. If the interview is within 3 minutes of
the end, ask: “The owner just called and said he has an offer to buy his business. He
needs to know whether he should take it right now.”

Possible Answer:
Given the credible threat of the industry becoming unprofitable due to the introduction of
this new technology, the owner should look to sell the company as soon as possible.
Taking into account the assets of the firm and the present value of the expected cash
flows of the business itself, he should attempt to liquidate the business and to sell the
assets for around $1.6M.

If the owner is unable to sell the business now, he can continue to operate the business
as a cash cow, but should not invest in the business above what is necessary to keep it
operating at its present level. He should expect the business to become less profitable
as the industry moves to mechanization, and should eventually look to sell the assets of
the company and close the firm.
TOPIC-12
Case Study and Minutes of Meeting
Case Study:-
 A case study is a research methodology that has commonly used in social
sciences.
 A case study is a research strategy and an empirical inquiry that investigates a
phenomenon within its real-life context.
 Case studies are based on an in-depth investigation of a single individual, group
or event to explore the causes of underlying principles.
 A case study is a descriptive and exploratory analysis of a person, group or
event.
 A case study reserach can be single or multiple case studies, includes
quantitative evidence, relies on multiple sources of evidence and benefits from the
prior development of theoritical propositions.
 Case studies are analysis of persons, groups, events, decisions, periods,
policies, institutions or other systems that are studied holistically by one or more
methods.

Minutes of Meeting
Also known as protocol or note, minutes are the live written record of a meeting. They
include the list of attendees, issues raised, related responses, and final decisions taken
to address the issues. Their purpose is to record what actions have been assigned to
whom, along with the achievements and the deadlines.

Format of Minutes of Meeting

A minutes of meeting normally includes the following elements −
 Name of the company − to the top-left of the page.
 Date − to the top-right of the page.
 Topic − after two return keys; Center-aligned.
 Attendees − Name and designation (2 columns of a table).
 Absentees − name, roles, reasons for absenteeism. (3 columns)
 Agenda at hand − topic to be discussed.
 Issues raised − along with the names of the speakers.
 Suggestions − made along with the names of the speakers.
 Decision − the outcome of the meeting.
  Task List − task allotted and the respective allottee.
 Future Meetings − the date and topic of the next meeting.
Example - Minutes of Meeting

Date - 23/04/2015
Tutorialspoint Pvt. LTD.
Address- 388-A, Road no 22
Jubilee Hills, Hyderabad, Telangana.
500033, Ph: 91 40 23542835
Topic- Meeting with Hasta La Vista representatives at 6:00PM

Attendees:

Name Designation

Mohtahsim M. Managing Director

Kiran Kumar Panigrahi Senior Technical Writer

Gopal K Verma Technical Manager

Manisha Shejwal Technical Writer

Absentees:

Name Designation Reason

Anaadi Sharma Senior Trainer Conducting Online .NET Training

Agenda at hand − Meeting with Hasta La Vista representatives

Issues raised − High Quotation, long duration, hourly mode of payment.
Suggestions:

Name Suggestions

Mohtahsim M. Alternative company

Kiran Kumar Panigrahi Negotiating mode of payment

Gopal K Verma Negotiating hours of workload

Manisha Shejwal Postponing the plan

Decision − The representatives were told to consult with their Management and report.
Task List:

Gopal K Verma Taking updates from Hasta La Vista

Manisha Shejwal Looking for an alternative company

Future Meetings − 30th April, 2015 at 4:30 PM in Meeting Room-1