FMS attempts to determine the ‘Growth drivers on the superpower road’

With western hemisphere still struggling to get past the recession kicked in by the Global Melt down in 2008, the world is now looking at countries like India, China, Brazil and Indonesia to become the epicentre of the economic activity.

India Infoline News Service / 09:25, Sep 05, 2011

Faculty of Management Studies, University of Delhi (FMS) organized its annual conclave at Welcomgroup Hotel Shereton, New Delhi on September 3rd and 4th, 2011. The gathering concluded with an exhilarating debate amongst industry’s who’s who attempting to map out the road for India to become a superpower.

 

With western hemisphere still struggling to get past the recession kicked in by the Global Melt down in 2008, the world is now looking at countries like India, China, Brazil and Indonesia to become the epicentre of the economic activity. In such an ecosystem, the stalwarts of the industry shared a stage with reputed academicians in order to decipher the true meaning of the word ‘superpower’ and the impediments to achieve it in Indian case.

 

Schedule for the conclave and the speakers are as follows

 

Day 1: 3rd September, 2011


Finance Conclave - Carpe Diem - Moving Financial Tectonics: Survival of the Smartest

The world is gripping under uncertainties as the once proclaimed superpower struggles to retain its throne. As the questions of survival have again started arising, the focus shifts on the definition of the growth drivers that are vital to conquer the "superpower" throne. Through this conclave, we aim to help students understand the factors - opportunities, challenges and strengths which will help India become a worthy claimant to the throne and eventually conquer it.


Speakers:

  1. Viren Mahurkar, Head, Strategic Advisory and Capital Markets, ICICI Securities (Keynote Speaker)
  2. Manoj Bhalla, Treasurer, GE Capital
  3. Subhashis Nath, Senior Partner, Axis Risk Consulting
  4. Amit Agarwala, Head - Corporate and Institutional banking - China Trust bank
  5. Mukesh Chawla, MD, Blue River Capital Advisory
  6. Nitin Dembla, MD, Global Banking Head - North India, Citibank N.A.

 

Marketing Conclave - Glocalizing - the Indian Way: A Marketing Challenge

The topic deals with how global brands have been marketed or distributed in India, how the brand proposition has been tweaked or how the sales channels have been developed so as to adapt in the Indian context.

 

Speakers:

  1. Dr. Harshvardhan Verma, Professor, Faculty of Management Studies (Keynote Speaker)
  2. Geetu Verma, Vice President & Chief Marketing Officer, PepsiCo
  3. Laxmi Kant Gupta, CMO, LG Electronics
  4. Sandeep Tarkas, President - Customer Strategy, Future Group
  5. Himanshu Khanna, Director, Wrigleys
  6. Subodh Marwah, Marketing Director, Carlsberg

Social Entrepreneurship Conclave - Unleashing Entrepreneurship: Making Business Work for the Poor

  1. How can Social Entrepreneurship serve the Bottom of the Pyramid?

  2. Mrs. Anu Lall, Director, Special Initiatives, Delhi Management Association; Director, Snartak Solutions

  3. New Age CSR: Shift from philanthropic or charitable models (Schools, Hospitals etc) to strategic social investments with short, medium and long targets

  4. Pramod Joshi, Adviser (Higher Education), Shiv Nadar Foundation; Director, Ecollabs Infomix Ltd; 

  5. Micro Entrepreneurship and Social Change

  6. Dr. Kuriakose Mamkoottam, Professor & Dean, School of Business, Public Policy & Social Entrepreneurship, Ambedkar University, Delhi

Day 2: 4th September, 2011  


Consulting Conclave - The Roadmap to excellence: A Consultant's Perspective

As India is poised to enter the domain occupied by the Major Superpowers, it must bank upon its resources to come up to that level. In the same process, there shall be certain structural roadblocks that it shall face. What shall be the policy measures and what are the opportunities and threats that India shall face, this decision will be one of the most important decisions for the country going into the next 2 decades. 

 

Speakers

  1. Dr. R. S. Dhankar, Dean and Professor, Faculty of Management Studies (Keynote Speaker)
  2. Dr. Sunil Abrol, President, Institute of Consultancy and Productivity Research
  3. Sudripto De, Principal, Infosys Management Consulting
  4. Anand Rohatgi, SVP & Director, Synergy Consulting

Systems and IT Conclave - Growth Drivers on the Superpower Road: Role of IT and Operations

Evolving Business Models and need for innovation in current competitive scenario and  role of IT/Supply Chain as a Growth Enabler for Emerging Economies to become a Superpower

 

Speakers:

  1. Mrs. Neena Pahuja, CIO Max Healthcare
  2. Atul Konwar, President, Mahindra Satyam
  3. Kulbhushan Chand, Director- Partner Solution Center, Oracle
  4. VKM Reddy, Director-SCM , Vodafone
  5. Ramesh Kumar S, Supplly Chain Practice Lead, Bristlecone
  6. D. Reveendran, Group General Manager, Head ICE, ONGC
  7. Daman Sood, CIO and Head- Green IT Practice at Continuity and Resilience

HR Conclave - Harnessing the power of youth to drive business ahead: India's Human Resource assets

In the present age, businesses across the world are focusing on the developing nations for their growth. In turn, the developing nations are witnessing immense growth in the form of huge inflow of foreign investments. A typical feature of these nations is that they have a huge base of young workforce. Many MNCs are realizing the need to tap in the advantage and reap the demographic dividends. But along with it comes multiple challenges in managing this unique workforce. The panel seeks to answer and discuss the key issues on how organizations across the globe are  harnessing the power of 'youth' to drive their businesses ahead.

Best Broker in India Awards

 

Speakers:

  1. Dr. Venkat Raman, Professor of HR and OB, FMS Delhi
  2. Joyce Wicherts, HR Director, Philips
  3. Rajiv Sahdev, VP HR, Moser Baer
  4. Alka Mittal, DGM, HR, ONGC
  5. Sumeet Mayor, Director, Linkage Inc.

Welcome Address By Professor Raj S. Dhankar  

Dean Prof. Raj S. Dhankar kicked off the conclave with with the lighting of the traditional lamp. The dean in his inauguration speech, set the tone for the conclave for the next two days by discussing the current American turmoil. He asserted that with the debt as high as the GDP, it was but imperative that it’s credit rating was to be revised from AAA. He continued by saying that the US was a superpower, however, now it would be wrong to call it a superpower.

 

Talking about Europe he said that the decision to create a Euro-Zone initially worked really well for them. However, with time, now we see the problems of operating such a model. Euro Zone countries came together and formed a club ignoring the rest of the world. They periodically bailed each other without any ‘external’ support. However, with the current crises even the euro zone is considerably weakened especially because of weak economies like Ireland, Spain, Italy and Greece dragging them behind.

 

Talking about India he said that unlike 1992, India is now fairly independent and doesn’t depend on the loans from World Bank and IMF. But even then, he said that India was far from a true global superpower. He identified three issues in our country which hinder it from becoming one viz. government policies, infrastructure and lack of political stability. However, he said that the outlook is not at all bleak. He commented that fact the country’s balance sheet and Indian corporate’s balance sheets are string, and with huge middle class population, India has a fair chance of becoming a superpower, provided, the impediments are removed.


Day 1: Finance Conclave - Carpe Diem - Moving Financial Tectonics: Survival of the Smartest  

Viren Mahurkar, Head – Strategic Advisory and Capital Markets at ICICI Securities said that the world has a number of entrepreneurs who strive and do well in any circumstances. He cited an example of ‘silicon valley’, which thrived creating new companies despite recession. He further asserted that real money lies in intellectual property rights and hence, creativity and research should be given high impetus in Indian system. He was even open to the idea of state capitalism which is practiced by countries like Russia and China are doing well competing at a global level. He also talked about how with advantage of population age, India can compete against countries like Japan who now fail to maintain the high standards they set for themselves on account of its ageing population.

 

Explaining the environment we are in now, Mahurkar said that globalization is increasing as people are travelling more and more and also to farther places. The world is globally connected and it now is a big village. He said that companies are also adapting the managerial cultures in various countries quickly.

 

Talking about problems on to the road to globalization, he said that as the capital inflows occur, the currency is pushed up and then the country becomes uncompetitive. India needs to be very wary about such a situation, but is cushioned by a high rate of internal consumption. Secondly, there’s a requirement for clean, efficient, transparent market for labour. He commented that the politics the issue lies in government administration and its delivery, the need of the hour is ‘inclusive growth’ for everyone so that there is availability of employable labor in every industry

 

Manoj Bhalla, Treasurer of GE began by saying that India is the 6th best improving country in the world since 1980 as per the HDI statistics. His line of thought was the fact that India has been doing well and hence can be seen as an emerging superpower. He derived a lot of comparisons based on statistical data on literacy, employment in organized sectors, improvement in health awareness in masses etc.

 

Subhashis Nath, Vice President at Genpact, led the discussion forward by first developing a historic perspective. He commented that as late as 1980s, India was considered a land of mud-houses and thatched roofs, with poor people and majority living with animals. Though recently, with emergence of Indian outsourcing section, this perception has changed. Yet, as a community, we need to work hard to develop this image. He pointed out that to become a superpower, we need to have an attitude of the superpower. Like the ‘young’ Indian cricket team, which not of played well, but was on a long winning streak during the mid-2000s on account of the professional attitude.

 

Subhasis contended that the path to becoming a superpower is through entrepreneurship. One doesn’t live on the lines of an existing brand but one does big only when he/she creates a brand. He explained that when US was emerging at the beginning of the 19th century, US did not adopt existing European brands and mannerism, but came out with its distinctive identity. India will have to do something similar and that is possible only through pursuit of entrepreneurship.

 

Amit Agarwal is Head , Corporate and Institutional banking, China Trust Bank had a different take on the problem at hand. He agreed that emerging markets were growing very fast, yet, China is leading the race. He contended that to become a superpower, a certain level of infrastructure is necessary in the country, which is completely lacking in India. He said that in last 12 months, our fiscal deficit has been increasing and we need to wake up soon and question the policies regarding it. His bolstered his argument by saying that corruption is a major problem in India. He argued that  corruption, not only gobbles up money, but also places the resources in  incapable hands.

 

Commenting on the India’s growth story, he said that services and industries were growing at about 10 % per annum, however, agricultural growth rate is almost negligible. He said that because of inflation, the purchasing power of a majority of people has been severely affected. He proposed structural changes to be implement to tackle this issue as early as possible. He also, vouches for major reforms in oil and energy, food distribution, fertilizers and educational subsitides. Masses need to made part of the Indian Growth story and business interests should be balanced with social and environmental concerns if India wants to become a true Superpower.

 

Muneesh Chawla , MD Blue River Capital Advisory agreed that India has shown a tremendous growth in domestic consumption, urban GDP and household financing. He said that average discretionary spending of a certain section of society has increased multi-fold opening up tremendous opportunities for various businesses. However, even Chawla contended for an inclusive growth. The concept of UID and its implementation is something that he believed will help finance and banking section registering a million people a day. It will reduce the hassles of transaction and increase the income for masses and government administrative institutes alike. He believed that such financial inclusion is the keystone in developing a strategy to become the next big superpower in the world.

 

Nitin Dembla, Managing Director, Global Banking head –North India, Citibank gave a different interpretation of the problem. He said that now the society is lot more integrated and interdependent than it used to be few decades ago on account of emerging technology.

 

His contention was that better adherence to guidelines is one of the necessity for any economy aspiring to be a superpower. Basal 3 is the future as people will demand better lives. Urbanisation is the trend, there will be requirements of cities, better home, power, water facilities. This will attract not only foreign capital but internal too increasing the ‘management bandwidth’


Day 1 - Marketing Conclave - Glocalizing - the Indian Way: A Marketing Challenge

The Annual Conclave of FMS, Delhi is a confluence of today’s strategic minds aimed at enlightening the brightest management minds about contemporary issues in Marketing. In alignment with this, the current year’s discussion attempted to shed light on the theme “Glocalizing - The Indian Way”. This topic dealt with how global brands have been marketed or distributed in India; how the brand proposition has been tweaked as well as how the sales channels have been developed so as to adapt to the Indian context. 

 

This conclave marked the convolution of esteemed speakers on the same platform sharing their unique views on glocalization. The key note speaker for the event was Dr. Harshvardhan Verma, a valued Professor of FMS. The prestigious speakers from the industry taking the event to an utmost level were Geetu Verma, Vice President & Chief Marketing Officer of PepsiCo; Lakshmi Kant Gupta, CMO of LG; Sandeep Tarkas, President of Customer Strategy for The Future Group; Himanshu Khanna, Director of Wrigleys and Subodh Marwah, Marketing Director of Carlsberg.

Each speaker brought to the table a different perspective that gave the discussion a new turn at every point.

 

Geetu Verma, shed light upon the unique challenges posed by the diverse Indian market highlighting the aspects of the varied preferences and value consciousness by the Indian consumer and the infrastructural issues faced by the companies. She also discussed the propelling proposition model for glocalizing which focused on appeal, accessibility and affordability for the Indian consumer leading to a competitive advantage gained by the companies by sustainably differentiating their product, creating love marks and optimizing the operating model. While Geetu Verma described how to tread the path to glocalization, LakshmiKant Gupta shared his views on the watchouts for glocalization stating that ‘The Consumers needs are the same across boundaries, but the difference lies in the approach of the consumer to evaluate and use the product, and this is the area one should watch out for.’ He also brought about a twist to the topic by highlighting that there should be a balance between the global and local quotient to the product which poses to be a great challenge.

 

Sandeep Tarkas, highlighted the ‘Indianness’ being the confidence of today’s consumer coming from an Indian company attaining global heights. He instilled in us the belief that there is a unique Indian way in which modern retail has a huge role to play and Future Group is poised to cater to this inquisitive, confident consumer. With the indianness concept introduced to the audience by Sandeep Tarkas, Himanshu Khanna paved way for glocalizing attaining pinnacles of success by creating a movement rather than just a promotion. He also said ‘A brand comprises a commodity that adds value to the customer and glocalization can be successful when the value add is local as it has to be in alignment with what the customer believes to be value.’ He also laid emphasis on the importance to be good customers before becoming successful startegists. Subodh Marwah shared with the audience the history of glocalization describing the evolution of the world from local to global to glocal today. He also stated that ‘Glocalization is not a given but a choice being important somewhere and not so otherwise but the essence lies on the consumer insights gained making it imperative to respect the local culture for glocalization to be successful.’

 

Our key note speaker, Harshvardhan Verma conducted the session commendably summarizing the topic at the end giving it a structure for the audience. He also shared his views on the topic stating that ‘There is no concept of a homogenous customer but there is a homogenous response. There are layers of customers where one aspires to be global but at the heart is local, thus paving way for glocalization. Customers look for individualized identity whereas marketers look for a common platform, thus glocalization becomes a balance between efficiency and effectiveness.’

 

The immensely diverse and valued perspectives gained on the topic of Glocalization enriched everyone changing the horizons of perceiving glocalization making FMS conclave a huge success yet again.


Day 1 - Social Entrepreneurship Conclave - Unleashing Entrepreneurship: Making Business Work for the Poor  

The last few years of the past decade have been tumultuous, to say the least. One thing that has become crystal clear is that the power balance in the world is shifting. The world is beckoning the rise of the mighty Asian Tiger. And as the people who are actually fostering this change, we wait impatiently for our nation to rise above all the quagmires it faces right now. We wait for our nation to be at the heart of global Economic Center Stage.

 

But, the biggest challenge before us is. How do we get there? As we embark on the era of constant growth and a ‘conducive’ business environment, the question that one needs to ask is whether the road to being a super power is inclusive enough for it to benefit all?

To find answers to the above, Vihaan (Social service cell) and E-cell (Entrepreneurship Cell) at FMS brought together an eminent panel at the Annual Conclave-2011 to shed light on the topic: "Unleashing Entrepreneurship - Making Business Work for the Poor"

 

Dr. Kuriakose Mamkoottam, former Dean, FMS and currently Professor & Dean of School of Business, Public Policy & Social Entrepreneurship, Ambedkar University Delhi talked about the various issues faced in India currently and how the students of eminent B-schools like FMS can bring about a paradigm shift and play a crucial part in resolving them. He urged the students to use the immense knowledge and capabilities they possess to challenge themselves, take calculated risks and create support systems, thus making a difference to society. According to him, fear of failure among young students was the chief obstacle to this and B-schools must encourage students to take the plunge by making changes in their policies. ‘Placement Holiday’ at FMS was started keeping this in mind, wherein a student can opt out of placements to start a new venture, and in case he so wishes, can come back and sit for placements within 2 years. This aims to encourage entrepreneurship inclination among students.

 

The next speaker was Mrs Anu Lall, an XLRI alum who is currently working as the Director, Special Initiatives at Delhi Management Association. Founded in 1955, DMA is a premier and prestigious non-profit professional body, devoted to dissemination of management principles and practices, providing a wide range of services aimed at enhancing managerial effectiveness in a broad sphere of activities. She mainly talked about ‘Business for  Social Change- unleashing entrepreneurial way for the bottom of the pyramid’. She emphasized on how the triple bottom line approach must be followed for the benefit of the society, instead of just going for profitability in any business. She focussed on the issues faced by the Bottom 60 (B60) segment and gave examples of organizations like ‘Life Spring’, ‘Selco’ and ‘Goonj’, who help address problems in Healthcare, Energy and other basic necessities.

 

The next speaker for the day was Pramod Joshi, a 1987 alumnus of IIM Bangalore and Founder and Partner of The Winning Mantra. He is currently working as an Advisor for Higher Education at the Shiv Nadar foundation, a foundation which has a vision to create a more equitable and meritocracy based society by enabling individuals to bridge the socio-economic gap in the society through the dissemination of world class education. He talked about Corporate Social Responsibility in the New Age and how various organizations have incorporated and implemented CSR activities. Talking about the Shiv Nadir foundation, he explained how the organization helps provide value based education to meritorious students from rural India by providing them scholarships and other opportunities. He called upon the students to do something real and valuable for the betterment of the country and the world at large, instead of just vying for high-paying MNC jobs. 

 

The discussion showed how the success of an economy is reflected in freedom for all to work and sustain a living without any constraints. Thus, Entrepreneurship in its various forms and serving different classes of customers (including those that belong to bottom of the pyramid) provided a solution without impeding the country’s growth momentum.


Hence today, large organizations find it extremely important to empower the rural masses to be entrepreneurs so that these masses may then contribute to their bottom-line.


Day 2 - Consulting Conclave - The Roadmap to excellence: A Consultant's Perspective

“Ad Infinitum” - the consulting session of the Annual Conclave 2011 of Faculty of Management studies was held today morning .This was organized by the Consulting Society of the Faculty of Management Studies. The theme of this year’s conclave is "Growth Drivers on Superpower Road - The Roadmap to Excellence". Dean Prof.  Raj Dhankar was the first speaker. He focused upon the risk US is facing in terms of global supremacy and the reasons behind it like less focus on R&D unlike in the 60’s. He also spoke of the Eurozone experience of the European countries which have been pretty much ineffective in the present global financial crisis. Prof Dhankar opined that there are basic structural flaws in US and European countries polities which had been using the World Bank and IMF to further its multinational corporation’s interests in smaller countries. He also shed light on the East Asian financial crisis of the 90’s and lack of control on the entry of FII at the time being the main reason behind it. This kind of hot money is something he said the present Asian nations should be careful about. Prof. Dhankar said India is geographically strategically located and should make full use of this to progress economically. He then went on to focus on the main roadblocks in India’s economic growth like infrastructure, healthcare, agriculture and manufacturing and delved into details with suggestions regarding each of them. He mentioned that Agriculture should be our prime focus due to the agrarian nature of our society and more than sixty person of the nation’s population still being involved in agricultural activities to earn their livelihood.

 

Dr. Sunil Abrol, President, Institute of Consultancy and Productivity Research were the next in the line of speakers. Dr. Abrol emphasized upon the crucial role played by the MSME sector in bringing nation’s economic progress. He observed that a robust MSME sector was behind the success of Maruti Udyog Limited. He listed out the steps needed to be taken by the Govt. to promote it and took the British example ‘Consultancy Support Coupon’ for small businesses. He also listed the growth drivers behind China’s economic progress and talked about it.

 

Sudipto De, Principal, Management Consultancy Division was the next to speak. He spoke about internal demand being behind the growth India’s economic growth witnessed after liberalization which according to him was caused by the FDI inflow into the country. De took the example of the growth in the automotive sector and delved into the details. He acknowledged the role played by the various governmental policies to achieve this growth and also listed out the points to gain excellence as focus on design & research, IT enablement, focus on alternate fuel engines, reduction in the raw materials and the need of global exposure.

 

Anand Rohatgi, SVP and Director, Synergy Consulting Inc. were the last speaker of the session.  Rohatgi spoke about Human Resources being the most important factor in success of a corporate entity and talked in details about the factors which fall under this scope. He emphasized that EQ and not IQ was most crucial and sought after quality in today’s workforce.  Leadership and one’s ability to manage change are the other two factors he mentioned needed in today’s corporate world for one to succeed.


Day 2 - Systems and IT Conclave - Growth Drivers on the Superpower Road: Role of IT and Operations  

Nina Pahuja, CIO, Max Healthcare, took the audience through the journey the nation has seen in last two decades in the field of Information Technology. She explained how the advances that the IT revolution has brought about have pervaded all streams of life and work. With technologies like SaaS and Cloud computing, along with ERP and CRM, the nation is moving towards an integrated IT environment. She also emphasized that with greater data and technology at hand, there is a need for focussed market research and for keeping exhaustive information about the present as well as the prospective customers. She also cautioned that with the IT implementation in the companies, there is a greater need for effective change management as well. Only with a successful IT implementation of emergent technologies powered by proper change management, will India continue its unbridled ride on the superpower wave.

 

Atul Konwar, President, Mahindra Satyam, noted that instead of trying to control the technological waves that have been ushered in, the nation should try to ride on it and utilize its advantages as much as possible. He illustrated the changing demand supply landscape and remarked on the pace of change that IT has brought in the way we define success and failure. He particularly pointed out the way we have come to define the success of a movie on release from the ‘jubilee’ concept to the ‘weekend gross’ concept, from hard discs to satellite communication. He observed that in this dynamically changing scenario, IT should be used for long term relationship building with the customers on a personal level.

 

Kulbhushan Chand, Director Partner, Solution Center, Oracle, mentioned that it would be pertinent to figure out the value additions that  IT has undergone in last twenty years. He opined that the IT technologies should be utilized by the young and vibrant workforce of India to embark on innovative and entrepreneurial ventures. Adoption of innovative business models coupled with increased risk taking appetite and capabilities will enable us to think global and make us create the IBMs, the Apples and the Oracles of the world, without which India will not be a complete superpower.

 

Another distinguished speaker, VKM Reddy, Executive Vice Pesident, Supply Chain Management, Vodafone brooded on the revolution IT has brought about in the area of supply chain management through the availability of real time data. However, as he mentioned, information overload would not take the nation anywhere if it is not perfectly utilized. In order to achieve this perfect utilization, proper management of talented human resources is essential, which is not only the responsibility of the HR managers but also of the other people in the company.

 

Adding to the thoughts of the previous speaker, Ramesh Kumar S., Supply Chain Practice Lead, Bristlecone, said that high IT investments are required to drive the supply chain management towards excellence. He touched upon how the likes of Apple, Della and Toyota have used IT to drive corporate innovation in the area of SCM. He was of the view that with optimal leveraging of these IT investments in SCM, it would be possible to configure it in a way that would satisfy the needs of both the developed and the developing world.

 

D. Raveendran, Group General Manager, Head ICE, ONGC, highlighted the need of the emergence of public sector of India for it to become a superpower. He threw light on the IT technologies like ERP and e-enablement of SCM in ONGC and explained how these steps have simplified the process of procurement, reduced procurement cycle time and facilitated better negotiations for the company. However, he too remarked that any IT implementation cannot succeed without proper change management.

 

The last speaker among the distinguished guests, Daman Dev Sood, CIO and Head, Green IT Practice, Continuity and Resilience, focussed on Green IT and its role in power-riding India on a superpower road in a sustainable fashion. He tore apart the myths that have been built in the name of Green IT and drove home the point that a green product is the one, the whole ecosystem of which has been green, and not just the usage. He bore at length on the potential health hazards that incomplete compliance to WEEE standards has created. He talked about the unknowing children disposing of e-waste, thus risking themselves of an exposure to harmful chemicals, and even showed a video that portrayed the existing regretful situation of e-waste management in the country. His thoughts clearly showed the fact that India will become a complete superpower only when it adopts the human side of management.


Day 2 - HR Conclave - Harnessing the power of youth to drive business ahead: India's Human Resource assets  

Prof. Venkat Raman of FMS was the key note speaker of the discussion. He set the direction and gave a broad idea about the whole discussion. With supporting data he said that in India the youth will prevail at least for the next 16 years. The demographic dividends of this transition are faster technological absorption, innovation, risk taking attitude, productive performance etc. In the new era the Indian families are becoming more urban and nuclear, as a result individualism and freedom are increasing and responsibility, sentiments are reducing.

 

Joyce Wicherts was the next panel member to talk. As per her the key opportunity and theme of Indian economy is talent. And if organizations can attract and harness the power of youth they can be successful. She then went on to discuss the Gen Y and the key differentiator of Gen Y. She gave her perspective of India in the global market and the implications to companies. Some of the opportunities provided by the youth are : Innovations to the company, Transformational(ready to change the conventions) and to drive success, and willingness to make a difference. Also she provided the major challenges faced, which are : Scarcity of HR, Job hopping, Urban citizens(not willing to move to rural India where the future growth is expected), and generation diversity.

 

Sumeet Mayor of Linkage Inc. talked about the need for leadership development and perception management. He implored to ask the right questions to increase organization development. He told that Communication is the key driver to the super power road. Success  depends on how you engage people in an organization.

 

Rajiv Sahdev of Moser Baer said that with the changes in the era the requirements also changes and so there will be mismatch and this creates new challenges. He said that parallel to the growth of the center of excellency there is a growth of deficiency and we need to harness the benefits at the same time should provide nourishments to the society. So if we don’t take care of the deficiency the Indian growth story will die down.


Alka Mittal of ONGC talked about the various initiatives talking by ONCG to adjust with the changing time. She said that today ONGC is competing for talent, unlike in the past. Some of the responses taken by ONGC are structure, process & manning pattern revamp, Corporate restructuring, recognizing innovation and risk taking attitude.