From Art to Economics: A Creative Entrepreneur's GIM Achiever's Round Interview
Candidate Profile
- Background: B.Com graduate with a Master’s degree in Economics
- Work Experience: Entrepreneur running a small-scale online art business
- Other Interests: Artist specializing in handmade paintings
Interview Panel
- Panel: 2 Interviewers – 1 Male, 1 Female (both around 50 years old)
- Mode: Online (Achiever's Round)
Interview Questions & Candidate's Approach
1. Icebreaker & Personal Background
🔵 F1: Tell me something about yourself that’s not on your resume.
📌 Tip: Focus on traits, motivations, or personal philosophies. Avoid repeating what’s already mentioned—think of anecdotes or lesser-known facts that reflect depth or passion.
🔵 F1: Tell us more about your business. Who does the work?
📌 Tip: Be clear and confident about your role. Entrepreneurship requires initiative, and being a sole operator is a strength—highlight multitasking and self-reliance.
2. Business Acumen & Practical Understanding
🔵 F1: What was your capital investment and how did you allocate it? Revenue in the last 6 months? Labour cost per hour? Price of each painting?
📌 Tip: Know your numbers. When you're running a business, even a small one, familiarity with financials reflects maturity. Tie in concepts like cost structure and pricing strategy.
🔵 F1: Why is profit shown on the liabilities side of a balance sheet?
📌 Tip: It’s considered a liability because it belongs to the owners/shareholders. Refresh fundamental accounting concepts.
3. Economics Concepts & Clarifications
🔵 M1: How is a natural monopoly formed?
📌 Tip: Mention high fixed costs and how one firm can serve the entire market more efficiently than multiple competing ones—classic examples include utilities.
🔵 M1: What is opportunity cost?
📌 Tip: Always explain using simple, real-world examples to show clarity. It’s the cost of the next best alternative foregone.
🔵 M1: What is super profit?
📌 Tip: It’s the excess of actual profit over normal profit. Be cautious about definitions—slightly wrong terminology can trigger corrections.
🔵 M1: What is BEP (Break Even Point)?
📌 Tip: Know the formula and practical implications. It’s the level of output or sales at which total revenues equal total costs.
🔵 M1: What are Economies of Scale?
📌 Tip: Explain types—internal and external—and examples like bulk buying or specialization leading to cost efficiency.
Key Takeaways for Aspirants
- ✅ Have a crisp “beyond the resume” story that adds dimension to your profile.
- ✅ Know your business metrics well if you're an entrepreneur—treat it like an MBA case study.
- ✅ Brush up on core academic concepts, especially if you’re from a commerce or economics background.
- ✅ Stay composed even if the panel seems uninterested—focus on delivering your best.
- ✅ Learn from corrections instead of feeling discouraged; it's part of the process.
📢 Disclaimer: Real Stories, Modified for Privacy
🔍 The above interview experience is based on real candidate interactions collected from various sources. To ensure privacy, some details such as location, industry specifics, and numerical figures have been altered. However, the core questions and insights remain authentic. These stories are intended for educational purposes and do not claim to represent official views of any institution. Any resemblance to actual individuals is purely coincidental.
📢 Keep following for more unique interview journeys and MBA prep insights!
🔍 The above interview experience is based on real candidate interactions collected from various sources. To ensure privacy, some details such as location, industry specifics, and numerical figures have been altered. However, the core questions and insights remain authentic. These stories are intended for educational purposes and do not claim to represent official views of any institution. Any resemblance to actual individuals is purely coincidental.
📢 Keep following for more unique interview journeys and MBA prep insights!
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