Entrepreneurship Essay Example | Topics and Well Written Essays - 1750 words

Entrepreneurship - Essay Example Entrepreneurial Journey of Oleg Tinkov According to Paul Burns (2001), personal characteristics and traits, societal culture, antecedent influence and situational factors are the strongest influencers on entrepreneur (Burns, 2001). Thus, it is important to note that Oleg Tinkov’s journey towards becoming an entrepreneur started at his childhood itself due to his father’s influence. As he grew old, cycling became one of his favorite leisure activities. Entrepreneurial analysis with respect to personal traits and characteristics suggests that entrepreneurs possess similar characteristics to those of sportsmen. Therefore, it is implied that his passion for cycling also has led him forward in his journey towards entrepreneurship. As challenging moves for Oleg Tinkov during his start ups, situational factors played an important role too. The micro-environment factors were prevalent within the country such as that of changes in perception, mood and meaning of the societal com munities. Oleg Tinkov challenged the macro economic factors such as economic changes within the country and market structure. His challenge was initiated by his motive of grasping the first mover advantage in the market generated after the disintegration in the Soviet Union. He held extremely strong instinct of defeating any challenge and every time evolved as a winner and this trait has been activated upon him through his immense interest in cycling (Tinkov, 2006). Entrepreneurial Opportunity for Oleg Tinkov Oleg Tinkov is a constant seeker of business opportunities and it is his search for the best which has never allowed him to remain stiff to a single... This editing researches an entrepreneurial background of Oleg Tinkov, his entrepreneurial opportunities and its transformation into business, business strategies and decisions of Oleg Tinkov, challenges and remedial actions to those challenges by Oleg Tinkov, his entrepreneurial network and role of luck and fortune. From the overall analysis of entrepreneurial traits of Oleg Tinkov, it can be stated that there cannot be the most appropriate ingredient for the best entrepreneur blended with certain portion of characteristics and certain portion of luck or fortune. Conversely, it is a combination of various factors which can only be enhanced by the entrepreneur himself. The entrepreneurs, who realize the importance of the most appropriate factors, ultimately become successful. However, at the same time, the entrepreneurs can conduct an in-depth analysis of the situational factors for interpreting the entrepreneurial traits and strive towards adopting those traits. It has also been foun d out from the entrepreneurial analysis that people who are more indulged in challenging activities such as that of sports and hold strong notion of winning each of the game are more likely to become a successful entrepreneur. Above all these facts behind becoming a successful entrepreneur lay the capability of identifying opportunities in the market and grasping each of the opportunities. Change identification and adaptation to changed environment are undeniably the most important characteristics of an entrepreneur.

Why College Education Is Important to Me Essay Example for Free

Why College Education Is Important to Me Essay Why College Education is important to me?, Its so important to me because it ONE of the most pompous thing you need in this world today to get somewhere in life, and survive so you can support yourselves, and yours kids. When I see the words â€Å"College Education† First thing pop up in my Mind is my Mother Smile, able to make her proud!, Not to be worried about her little baby-girl taking on this big world By herself. And to able to give her a little peace of mind that â€Å"I can† survive and support myself because I finished my College Education to get a Higher paying job and not Struggle. Another good reason why College Education is so important to me so I can be a Motivation for my younger sibling also nieces and nephew to see me â€Å"FINISHED† College to persuade them to follow in my footsteps to help them in their own lives, and be a inspiration for them, so that one day they realize that its not as hard as some people make it seems, that if you put your mind into it and have faith anything is possible When I Finished High-school I knew that it wasn’t enough!, I knew a high school diploma wasn’t going to get me so far, but a Job in a fast-food restaurant or a sale clerk at a local store, and maybe a Apartment that I have to work two jobs to just pay all my bills and live, that’s not the life I wanted to choose for myself, so when I think about the words â€Å"College Education† I imagine myself working at good paying job with benefits or owning my OWN business, I see myself being a Homeowner and specially when I have kids able to pay for them when they go off to college. I wish kids nowadays in this generation will understand a college education Is very important to achieve your dreams, in order to have better life, because children today need to know with a education you can be ANYTHING in life, they can be the next President of United State Of America if they finished college and have some motivations, so I hope for myself getting my Bachelor Degree in business show my friends and family anybody can or go  back to school to Finished can be successful. A College education can get you so Far in life just with a little motivation from knowing that a better education means a better job, better self-confidence and more motivation to achieve my goals in the job career that I have chosen. I feel achieving a college degree will help me climb up the ladder in the job I choose when I finished getting my Degree, I also feel that going after my dreams and achieving my goals and showing determination will help for my Future kids as they grow up to do the same. The most important things In my life is God, faith, Family, and my education to reach high to complete all my goals. Jim Rohn Quoited: â€Å"Unless you change how you are you will always have what you got.† I really like this quote because it speaks the truth if you don’t change the situation you in now, couple years later down the road you’ll be in the same situation procrastinating. Another Quote from Brian Tracy Quoited â€Å"One of the marks of successful people is they are action oriented. One of the marks of average people is they are talk oriented.† this quote speaks to me, it saying that action speaks, you can talk, or you can prove yourself by your actions, for me my actions is getting a college education, so that I dont have to talk, but let my actions speaks for itself.

Power Grid Analysis Load Flow Study

Power Grid Analysis Load Flow Study Power Systems Assignment 1 Power Grid Analysis Contents 1.Introduction What is a Smart Grid? What is ETAP? 2.Electrical Grid Proposal 3.Initial Design Complete Electrical Network Power Plant Section Electric Arc Furnace Section Wind Farm Section Transmission Lines 4.Initial Design Analysis Load Flow Study Load Flow Conclusion 5.Re-Design Complete Electrical Network Power Plant Section Electric Arc Furnace Section Wind Farm Section Filters 5.Re-Design Analysis Scenario 1 Load Flow Study Scenario 2 Load Flow Study 6.Conclusion 7.Recommendation 8.Bibliography What is a Smart Grid? The original power grids were constructed more than 100 years ago, when electricity demand was low. Power grids where local to individual cities and were powered by local power stations. Most homes had a very small electricity demand, such as powering up a few small lamps. The power grid was constructed as a limited one-way interaction, with electricity passing from the power station into homes. This one was interaction, with no feedback makes it difficult for the gird to respond to the current day, ever changing, rising electricity demand of the 21st century. The smart grid introduces a two-way interaction, where electricity and data can be exchanged between the generation plant and the end users. It is an ever-expanding network of computers, controls, automation and innovation working together to make the power grid, more secure, more reliable, more efficient and more environmentally friendly. Smart grid enables the generation from new generation sources such as wind, solar and tidal, as well as traditional power stations. With the ongoing advancements in smart grid technologies, a smart grid will replace the existing infrastructure of the power grid. This will leave better communication between end users and generators to help manage our electricity needs. A recently released study by the PNNL (Pacific Northwest National Laboratory) reviewed American homeowners who had updated to new smart grid technologies to monitor and control the consumption of energy within their homes. The outcome of the study showed that the average house could have its annual electricity boll reduced by 10 percent. This could be a saving of nearly $200 billion in the USA alone. The overall result would leave homeowners with lower rates, and have the environmental impact of taking the equivalent to 30 million vehicles off the road. With such a massive stake to gain, it is clear why there is a big drive for Smart Grids in the 21st century.    What is ETAP? ETAP is a fully integrated suite of software products that can be used to model an electrical power system. It offers real time calculated simulation of a designed electrical power system model. It can simulate an electrical power system from generation, to transmission, through distribution, down to the end user. We use ETAP as a simulation package to model and predict behaviours of electrical power grids before they are constructed. This results in an efficient and safe method of designing and constructing an electrical power grid. I propose to design an electrical power grid, which will provide power to an Electric Arc Furnace. The furnace will have many of different loads that vary from charging electrodes, to large cooling water pumps. The power for the Electric Arc Furnace will be provided from two independent sources. A Steam Generator Power Station and a Wind Farm. The Electric Arc Furnace will have three vertical electrodes that conduct an alternating current that forms an arc between them and the layers of the scrap metal in the furnace, causing the metal to melt. Each electrode would use 5MVA of power at 11kV. As well as high power electrodes, the Electric Arc Furnace would require additional appliances. These include water-cooling pumps, auxiliary oil pumps and induced air draft fans. These appliances will all operate at 415V. To provide power to the power hungry Electric Arc Furnace there will be two power sources located on the same site as the furnace. The first will be a Steam Power Station. Two steam-powered generators will produce a combined power output of 240MW. They will generate at 33KV and the voltage will be dropped down for distribution and transmission. The Power Station will have its own appliances similar to the Electric Arc Furnace that will enable it to generate electricity. There will be four motors used by the high-pressure steam boilers in the power station. To ensure that there is a constant supply of electricity for the power stations motors there will be a connection to the National Power Grid. This connection to the grid is will only necessary when Turbo Alternator 1 2 are both not generating electricity for the network. During normal operation, the circuit breakers to the grid will be open. Two steam driven turbine generators are not the only power sources in the electrical network. Placed on the same site as the Electrical Arc Furnace will be two Wind Turbine Generators. The two Wind Turbines will generate a combined 4MW at 11KV. These two generators will be renewable energy sources that harness the energy in passing wind. They will not require fossil fuels unlike the power station. Similar to the Power Station, there will be a supply to the Wind Farm from the National Grid. This is to provide start up power for the Wind turbines. Once the turbines are operational, the link to the National Grid is will not be required. During normal operation, the circuit breakers to the grid will be open. Transmission of power between the three sites outlined will be via overhead 66KV transmission lines. Electricity will drop down to the usable voltage at each site via transformers. Complete Electrical Network Power Plant Section To the right is the Power Plant section of the electrical power grid. It is the main source of electricity for the grid. It provides power from two 120MW steam turbine generators. It has a link to the Utility Grid but this is only enabled when the two generators are not generating or when they running up. The Generator auxiliary pumps always require power from either the grid connection or the Turbine Alternators to enable the Turbine Alternators to generate power. This section has two links to the rest of the electrical power grid. The first connection is to the Wind Farm Section via a 66kV line. The second connection is via a 66kV line to the Electric Arc Furnace Electric Arc Furnace Section To the right is the Electric Arc Furnace Section of the Electrical Power Grid. It is the main consumer of electricity in the grid. It consumes power through three 5MVA Arc Electrodes. The Electrodes are used in the Electric Arc Furnace process to create iron from raw materials. For the process to operate successfully all three electrodes and their cooling pumps must be operational. If there is a drop in power provided to the process then it may become endangered because of the high temperatures involved. Due to this danger through loss of power, there must be redundant power supplies to the process. These supplies are provided from a 66kV line from the Power Station Section and a 66kV from the Wind Farm Section. If one were to fail there would always be a redundant supply from the other to provide power to the Electric Arc Furnace Process. Wind Farm Section Below is the Wind Farm Section of the Electrical Power Grid. It is a source of renewable energy for the grid. Renewable energy is provided by two 2MW Wind Turbines, which generate electricity when wind turns the generator windings. There is no consumers of electricity on this section leaving it completely independent of the rest of the grid in the event that both its lines are lost. This is highly unlikely as there is a 66kV line to the Power Station Section and a 66kV to the Electric Arc Furnace Section. A second link to the Utility Grid provides a backup in case the first connection at the Power Station Section fails. Transmission Lines My electrical power grid has 3 separate sections interconnected by transmission lines. These transmission connections provide redundancy protection in the event a section connection faults. The main electricity producers for the electrical power-grid operate at 11kV but for transmission purposes, the power is transmitted at 66kV. This is because line losses are much lower at higher transmission voltages over large distances. Having lower line losses improves the efficiency of transmitting the power, therefore resulting in operational cost savings. The smaller the cross sectional area of the cables, the less the loss to heat dissipation. Large voltages require smaller surface area, resulting in less line loss. In my example of a power-grid, the voltage is being stepped up at the generating section, transmitted through the transmission line to a load section, and then stepped down to lower voltages required by the load. This is shown in the following equation: P is fixed by customer demand. R is as small as reasonably practicable by using large copper transmission lines. Therefore, line loss decreases strongly with increasing voltage. Whilst transmission line companies wish to keep transmission lines are thick as possible to decrease the resistance in them, it has to be within financial reason. Load Flow Study During the design stages of an electrical power-grid, a load flow study should be performed. A load flow study can outline if electrical grid voltages stay within their specified limits during normal or emergency operating conditions. The study also determines whether equipment such as conductors and transformers are overloaded. A successful load flow study can calculate the voltage at each bus, the voltage drop on each feeder, and the power flow and losses in all branch and feeder circuits. The most common uses for load flow studies include: Optimisation of components Identifying reactive and real power flows Reduce kW and kVar losses The important data retrieved from a load flow study is the voltage profile of the electrical power-grid. When voltage changes a lot throughout the system, large reactive flows will occur. This will then lead to larger real power losses. When a bus has an unacceptably low voltage, it is essential to install capacitor banks in order to provide reactive power compensation to the load. AN INEFFICIENT OR UNBALANCED LOAD CAN CAUSE UNPREDICTABLE BEHAVIOR Complete Electrical Network Power Plant Section Below shows the redesign of the Power Plant Section of the Electrical Power Grid. Outlined by a red circle, a capacitor bank has been added to the 415V Auxiliary Pump Bus. It can be switched on and off when P.F correction is needed. Electric Arc Furnace Section Below shows the redesign of the Electric Arc Furnace Section of the Electrical Power Grid. Two capacitors have been added to improve the power factor. A capacitor has been added to the 415V Cooling Pumps Bus. A capacitor has been added to the 11kV Electrode Bus. It can be switched on and off when P.F correction is needed. Wind Farm Section No change has been made to the Wind Farm Section of the Electrical Power Grid. Harmonics Filters Harmonic currents and voltages in an electric power grid are the outcome of non-linear loads. Harmonics in power grids produce higher temperatures electrical equipment and conductors, faults in variable frequency drives, and torque waves in motors. Power quality issues are the outcome of harmonic frequencies in the power grid. When designing an electrical power grid it is essential that of harmonics are reduced. The significant effect of harmonics in an electrical power grid is the increase of current in the system. This is more prominent in the third harmonic, which causes a large increase in the zero sequence current. This requires a lot of consideration in when designing an electric power grid to drive non-linear loads. Electric motors will incur losses due to large hysteresis losses caused by eddy currents in the iron core of the motor. Since the harmonics are at higher frequencies, they produce higher core losses in a motor than the power frequency would. The result of this is the increased heating of the motor core. If excessive, this will reduce the life of the motor. The 5th harmonic will introduce CEMF (counter electromotive force) in large motors, resulting in the opposite direction of rotation. CEMF does not have enough force to counteract the rotation, however it does reduce the rotating speed of the motor. Capacitor banks have been included on the re-design of the electrical power system on to reduce the effects of harmonics and bring Power Factor to a suitable value. Their value has been specifically calculated to suit each bus bar they fed. This compensates the reduction in Power Factor. Eaton, C. (2016). What is a smart grid. Swansea. Energy Networks. (n.d.). Who is my network operator? Retrieved from http://www.energynetworks.org/info/faqs/who-is-my-network-operator.html Engineering, E. (n.d.). ETAP Introduction. Retrieved from electrical-engineering-portal.com ETAP. (2016). Network Tutorial. Retrieved from https://etap.com Guilds, C. . (2016). Utilities Qualifications. Retrieved from www.cityandguilds.com à ¢Ã¢â€š ¬Ã‚ º Qualifications à ¢Ã¢â€š ¬Ã‚ º Utilities à ¢Ã¢â€š ¬Ã‚ º Utilities Networks, S. E. (n.d.). Training Documents. Retrieved from www.spenergynetworks.co.uk/pages/training.asp Power Skills Centre. (n.d.). Power System Protection. Retrieved from www.powerskillscentre.com/protection/power-system-protection-part-one Siemens. (2015). HVDC Benefits. Retrieved from Siemens: http://www.energy.siemens.com/br/en/power-transmission/hvdc/applications-benefits/hvdc-benefits.htm Udemy. (2015). ETAP Unified Electrical Grid Training. Retrieved from https://www.udemy.com/practical-etab/ Utility Engineering. (n.d.). Grid Training. Retrieved from www.utilityengineering.co.uk/electrical%20training.html Vinici Energies. (n.d.). Smart Grid Ideoligy. Retrieved from http://www.vinci-energies.com/en/its-already-tomorrow/towards-managed-energy/smart-grids-electrical-networks-that-evolve-in-response-to-usage/

The History of Public Relations Essay example -- essays research paper

The History of Public Relations   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The act of public relations dates back to 52 B.C.E. in ancient Rome and continues on today all around the world. Public relations is defined as the controlling factor that searches to form and maintain relationships between organizations, profit or non-profit and the public that are beneficial for both parties (Bates). The age of public relations as a profession evolved in the 20th Century, mainly in the United States, but its foundation can be followed throughout the age of man. The practice of public relations is dedicated to complete honesty and openness in its communications and operations. Over time, the force of professional public relations has triumphed over several setbacks.   Ã‚  Ã‚  Ã‚  Ã‚  Arthur W. Page, creator of the five principles of corporate public relations in 1927 stated, â€Å"All business in a democratic country begins with public permission and exists by public approval. If that be true, it follows that business should be cheerfully willing to tell the public what its policies are, what it is doing, and what it hopes to do. This seems practically a duty.† Page’s principles still carry on today with many businesses and corporations.   Ã‚  Ã‚  Ã‚  Ã‚  Page and other renown public relations professionals such as Edward Bernays, founder of modern public relations, believe that pr and civilization is a collaboration that exists throughout time. As far back as the time of Julius Caesar, many historians believe the he wrote his Commentaries as governor of Gaul to promote himself to the public. Caesar, being aware of persuasion and how news can inform the public, published a daily paper called Acta Diurna, meaning â€Å"daily acts† or â€Å"daily records†, that carried on for 400years. Since the invention of writing, public relations was formed. Leaders of ancient civilizations used writings to promote their superiority in war and politics. Public interest became a huge priority for everyone.   Ã‚  Ã‚  Ã‚  Ã‚  The Renaissance and Reformation founded the modern world and the first stages of public relations that is attributed to public and private organizations today and several articles of history. The Magna Carta, which influenced the U.S. Constitution, for example, empowered the ... ..., organizations, and other institutions, is the public. PR has made its way through history and has satisfied its place or role, if any, in the world today.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The three main elements of public relations are practically as old as society: informing people, persuading people, or integrating people with people. Of course, the means and methods of accomplishing these ends have changed as society has changed.† - Edward Bernays, founder of modern public relations Bibliography Don Bates, â€Å"MINI-ME† HISTORY TO INFORM AND PERSUADE: Public Relations from the Dawn of Civilization, Institute for public relations, www.instituteforpr.com, July 18, 2005. Edward L. Bernays, Crystallizing Public Opinion (1923; reprint ed., Norman, OK.: University of Oklahoma Press, 1961). Edward L. Bernays, Public Relations (Norman, OK.: University of Oklahoma Press, 1952) Scott Cutlip, Public Relations History: From the Seventeenth to the Twentieth Century (Mahwah, NJ.: Lawrence Erlbaum & Associates, 1999). Public Relations Society of America, Public Relations Education for the 21st Century: A Port of Entry, PRSA, www.prsa.org, July 19, 2005. The History of Public Relations Essay example -- essays research paper The History of Public Relations   Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  The act of public relations dates back to 52 B.C.E. in ancient Rome and continues on today all around the world. Public relations is defined as the controlling factor that searches to form and maintain relationships between organizations, profit or non-profit and the public that are beneficial for both parties (Bates). The age of public relations as a profession evolved in the 20th Century, mainly in the United States, but its foundation can be followed throughout the age of man. The practice of public relations is dedicated to complete honesty and openness in its communications and operations. Over time, the force of professional public relations has triumphed over several setbacks.   Ã‚  Ã‚  Ã‚  Ã‚  Arthur W. Page, creator of the five principles of corporate public relations in 1927 stated, â€Å"All business in a democratic country begins with public permission and exists by public approval. If that be true, it follows that business should be cheerfully willing to tell the public what its policies are, what it is doing, and what it hopes to do. This seems practically a duty.† Page’s principles still carry on today with many businesses and corporations.   Ã‚  Ã‚  Ã‚  Ã‚  Page and other renown public relations professionals such as Edward Bernays, founder of modern public relations, believe that pr and civilization is a collaboration that exists throughout time. As far back as the time of Julius Caesar, many historians believe the he wrote his Commentaries as governor of Gaul to promote himself to the public. Caesar, being aware of persuasion and how news can inform the public, published a daily paper called Acta Diurna, meaning â€Å"daily acts† or â€Å"daily records†, that carried on for 400years. Since the invention of writing, public relations was formed. Leaders of ancient civilizations used writings to promote their superiority in war and politics. Public interest became a huge priority for everyone.   Ã‚  Ã‚  Ã‚  Ã‚  The Renaissance and Reformation founded the modern world and the first stages of public relations that is attributed to public and private organizations today and several articles of history. The Magna Carta, which influenced the U.S. Constitution, for example, empowered the ... ..., organizations, and other institutions, is the public. PR has made its way through history and has satisfied its place or role, if any, in the world today.   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The three main elements of public relations are practically as old as society: informing people, persuading people, or integrating people with people. Of course, the means and methods of accomplishing these ends have changed as society has changed.† - Edward Bernays, founder of modern public relations Bibliography Don Bates, â€Å"MINI-ME† HISTORY TO INFORM AND PERSUADE: Public Relations from the Dawn of Civilization, Institute for public relations, www.instituteforpr.com, July 18, 2005. Edward L. Bernays, Crystallizing Public Opinion (1923; reprint ed., Norman, OK.: University of Oklahoma Press, 1961). Edward L. Bernays, Public Relations (Norman, OK.: University of Oklahoma Press, 1952) Scott Cutlip, Public Relations History: From the Seventeenth to the Twentieth Century (Mahwah, NJ.: Lawrence Erlbaum & Associates, 1999). Public Relations Society of America, Public Relations Education for the 21st Century: A Port of Entry, PRSA, www.prsa.org, July 19, 2005.

Market Research Report on Packaged Fruit Juices & Drinks in India Essay

Fruit beverages in India have come a long way since their first forms to find their permanent place in Indian households. Today you will find yourself bewildered with the choices available if you wish to drink a fruit beverage. Innumerable and eclectic flavors combined with several variants (juices, drinks or nectars), is a testament to the fruit beverage industry transformation. In the view of the rising future potential of the industry, Niir Project Consultancy Services has released a new research report titled â€Å"Market Research Report on Packaged Fruit Juices & Drinks in India (Present & Future Potential, Market Insights, Growth Drivers, Opportunities, Industry Size, Porter’s 5 Forces, Demand Analysis & Forecasts upto 2017)†. The report aims at providing a thorough understanding and analysis of the industry by deeply exploring the present status as well as the future prospects of the fruit beverage sector in India in the wake of evolving market dynamics. The report establishes the study by covering data points like growth drivers for the industry, opportunities, present scenario, demand supply estimation & analysis, porters 5 force analysis and key player information. The report begins with a brief on global status of the fruit beverage industry and then shares information on the current status of the industry on the domestic front. The report discusses the overview of the sector along with its classification and structure and then further proceeds to analyze the growth drivers and opportunities for the industry. Rising per capita incomes of the Indians, bulging middle class, surging modern trade and growing urbanization will be the macro economic factors that will contribute to its growth. Escalating health consciousness among Indians has lured them towards fruit beverages and the players have left no stone unturned in capturing this sudden rush of demand. Although the fruit beverage industry is dominated by the loose beverage segment, the share of packaged fruit beverages is gradually rising and eating away the other share. The report then discusses the demand-supply scenario of packaged fruit beverages in India by analyzing various aspects. The demand for packaged fruit beverages is captured by studying the consumption volumes and the industry revenues while the supply side involves scrutiny of estimated fruit processing units in the country along with the fruit production statistics of India. The data discussed above is supported by graphical representations wherever necessary along with the key forecasts. Moving forward, the report analyzes the attractiveness of the sector by evaluating the status of porters 5 forces prevalent in the sector. The sector is said to be most attractive when the 5 forces are their weakest and the report explicates the forces methodically to simplify the analysis. For more information kindly visit: http://www. marketreportsonindia. com/food-beverages-market-research-reports-11581/market-research-report-packaged-fruit-juices-drinks-india. html Related Links: http://www. marketreportsonindia. com/market-research-report/food-beverages. html About MarketReportsonIndia Market Report on India is a portal where you can access thousands of reports on India startingfrom Aeronautics to Zinc (A-Z). We provide you with reports which will help you gain a better understanding of the Sectors, Companies, New Products and Latest trends. Contact Us Market Reports on India Contact No: India: +91. 22. 27810772, 27810773 Toll Free US: 1-866-279-8368 mail: info@marketreportsonindia. com Website: http://www. marketreportsonindia. com Twitter: https://twitter. com/ReportsonIndia.

How to Answer the Hypothetical Interview Question

How to Answer the Hypothetical Interview Question Pop quiz, hotshot: It’s your first day on the job, and everything is going wrong. How do you fix it? If you get this kind of question during a job interview, it can be alarming, to say the least. It feels like the interviewer is giving you a direct challenge, and if you answer incorrectly, you shall not pass. But if you are asked to solve a hypothetical problem, don’t panic. There’s a method that will help you get through it. Here’s how you can answer the hypothetical interview question.DO take a few seconds to gather yourself.First instincts may get you through in bar trivia nights or emergency situations, but this is neither. You want to make sure you’re giving a reasoned, thoughtful response. The person is testing your problem solving skills and your thinking processes, so you want to make sure you’re showing those off.DON’T blurt out the first thing that comes to mind.This isn’t Jeopardy!, and you don’t get a bonus fo r being the first to buzz in. Again, the interviewer is watching you to see how you approach something, not just the end result.DO ask questions if you need to clarify.This can also buy you a little thinking-on-your-feet time.DON’T ramble or go off on tangents.This is a nervous habit that can be tough to break, and the best way to get around that tendency is to think about this ahead of time. Sure, it’s difficult to anticipate beforehand exactly what (if any) hypothetical situations the interviewer could use, so do some general prep.Look closely at the job description. Is it heavy on client service? If so, you might be asked to talk about how to handle a sticky situation with a client or stakeholder. Is the job focused around deadlines? You might have to field a question about what to do about potentially missing one of those deadlines. It’s unlikely that the interviewer will ask you something entirely unrelated to the job you’re seeking, so the descripti on is a good place to start for anticipating such a question.DO think about your own history.The hypothetical question is a cousin to the â€Å"tell me about a time you†¦Ã¢â‚¬  question. And that’s one you should already have in your pocket ahead of interview day. Have you-specific examples of things like problem solving, communication successes, or challenges you’ve faced down. If these are at all related to the hypothetical situation posed, you can adapt. If it’s very similar, you can say, â€Å"That’s actually like a situation I had at X Corp. Here’s what I did in that scenario†¦Ã¢â‚¬ DON’T feel pressured to give a definitive answer to the problem.Talk about the process of resolving: where you would start, who you would loop in, which steps you would take to arrive at a possible solution, and then what you would do to choose the best option. The interviewer isn’t asking you to solve the problem and achieve world peace right now, she wants to see how you would approach it.The hypothetical question can be a sticky point in an interview, but if you know what they’re looking for (process) and how to lay it out (clearly and calmly), you’ll be past it and back into more familiar territory in no time.