Hey Deepen!
Thanks for dropping by, and sorry for the slight delay there! (I was on the road for two weeks).
Anyhow, let's just jump straight into our business, and get to your questions:
1. Does applying to Round 2 affect my chances of getting an admit?
Yes, a bit. It's a bit easier in R1 in general. plus when you apply R2 you lost eh advantage of having a second round afterwards.
2. How much score should I aim?
Basically as high as you can, but for your school list (which I will write more about later) a 720+
3. I am studying from the Official guide and Manhattan SC. Which other books do you recommend?
I like Manhattan, and so do many others because the tests can often be harder than the actual GMAT.
4. Any other schools, you recommend, which have one year MBA program?
Well, most European programs have one-year programs, so you have many more schools in Europe that you could choose from (Oxford, Cambridge, HEC, IE, etc. ) In the US you have already hit the two schools with the most prestigious one-year programs. You can also look at Marshall, Goizueta and Babson.
For the moment it's a bit hard to evaluate your profile entirely as you do not have your GMAT yet, but let me say that even if you do hit a 720+ your school list might be a bit ambitious - IMD, INSEAD, ISB, LBS might all remain stretches even with a fantastic GMAT (I write might because I don't feel like I fully know your profile - I am esp. missing some detail about your work experience and your goals). So think about that in the meanwhile.... but not too much!!!
Because first you have your GMAT to ace! So go to that, and good luck,
JF