Soumyajeet Mohanty ran Edu Solutions, an educational consultancy service in Bhubaneswar Odisha. Initially he started Sunrise Coaching Solutionsproviding tuition to engineering students. As the venture did not yield much returns, he ‘moved up the value chain’ by providing ( fake) admissions to students wishing to get into medical colleges. Most of these students either had poor scores in NEET ( National Eligibility cum Entrance Test is an entrance examination in India for admission to medical and dental graduate courses) or who were repeaters. Mohanty and his team of six were able to notch up a revenue of Rs. 8-10 crores within 2 years.
The admissions were fake, the seals bogus. Mohanty’s team was able to extract Rs. 10 – 50 lakhs from parents for each seat Now what is common between Mohanty’s modus operandi and the management principles?