In an exclusive interview with XEDGlobal, Skoch Chairman, Sameer Kochhar narrates his personal journeys, experiences and evaluation on the Indian policy-making mechanism and how it must not ape the corporate systems, but be based on intervention and sociological aspects.
One of the biggest things lacking in Indian policy is a friendly perspective. No one actually understands hunger better than a person who has been hungry. So, for the first 17 years of life, I was a practitioner of poverty. So, I know the value of public distribution system, I know the value of subsidized education, I know the value of subsidized healthcare and I know how all this can be delivered in a better manner.
Post-1991, there was a whole series of reformists who came in India. Not all of them were politicians, quite a few of them were more technocratic in nature but they did get a free hand to implement their ideas. That is why from 1991 you would see that India has been in a different growth trajectory compared to earlier times. So, I think both forward-looking politicians and a balancing act is crucial and getting the right capacity from technocrats is equally important.
You have to understand that, there is hardly any battle between the corporate world and the government world. What is wrong is that the Indian government tries to ape the corporate world, as if they think that corporate world has a solution to every problem there is. There are best practitioners in the corporate world and there are best practitioners outside the corporate world.
First of all, we have to try and understand the problem we are trying to address. For example; one problem in India is poverty, so the primary job of government in India would be addressing poverty. So this is very unlike a corporate situation where there is no intervention concept. So, we should not try to learn from them the former system, where the primary objective is profit. So, the infatuation with the corporate world has to go.
Technology is an enabler. Technology is not a solution to any problem. The biggest challenge we face in policy making in India is that when we have a 5000 crore or 500 crores budget, we immediately think which technology to buy. So instead of solving any problem, you get into technology evaluation or technology implementation report, which should have been the later chapters of the book you are doing. First, we need to understand the problem itself and what is it that you are trying to address itself takes a back seat. So, I think technology comes much later. First, there has to be capacity building on governance itself, what are the challenges they are facing itself, what are the factories they are facing itself.
The technology has to solve a problem but the problem is undefined and you are just buying and throwing technology on it. So, no problem will be resolved. So, I get a bit nervous when I hear of artificial intelligence and big data and cloud etc, and when the real problem goes neglected.
Leadership is a learning process. No one is born a leader. You become a leader, based on the experiences you go through. So, if I say I am good at policymaking on food, because I have been hungry, you can’t take a revenge on hungry or every person is hungry. So, what is the learning is to understand what a hungry person feels like. So policymaking in India, till now has been hijacked by economics and statistics which are important. So, until and unless you focus on sociological dimension to policy-making and you get more participants who see it in different ways and then you amalgamate out of it. That really is going to be precious.
With 20 Years of hands-on experience in procurement and materials management, in the hospitality industry in the Indian sub-continent, Sanjay Verghese, Director Material and Food Safety at The Imperial, New Delhi share his views on regular and need-based training in the Hospitality Industry in India.
I Joined Taj as a Management Trainee way back in 1988 and completed two years of training with them and the identified area for me was materials management and since then I have always been in materials management which is procurement and Inventory control. My journey has taken me through Hotels, Food manufacturers, Airline catering companies and now back to Hotels. Overall it has been a great journey. I have completed 15 years in The Imperial and it is like home to me. It's a great property to be in. As of now, I am the Director of Materials & Food Safety.
Experience attending Cornell Executive Programme in Managing Strategic Growth and Leadership in Emerging Markets
Coming from a procurement background, It was an eye-opener. The kind of depth these professors go into on topics like customer satisfaction and raising the bar beyond the customer expectation is very enlightening. Especially coming from a purchasing background it was a great experience and it opened a completely different paradigm for me.
Importance of training at all levels
Even after 26 years of experience, attending training programmes at various levels shave only made me feel more empowered. I have always been able to take back something that I can implement in my work every time.When I was a management trainee at the Tata management training centre Pune what I learnt I could implement immediately, but what I learnt at Cornell is helping me even after 10 years, because as a senior in the organisation now I am able to see the big picture and contribute to the operations team. So Training at all levels is only helpful.
Managing Complaints and Exceeding Customer Expectations with appropriate need-based Training
For any people industry, there will always be complaints.Let's face it, we can never be perfect, we are not robots. Artificial intelligence as much as it has progressed today, we are still nowhere close to a stage where we can have a complaint free environment. But training is helpful and important to manage these complaints in any people industry. However what is more important is to identify the exact needs of the trainee and that has to be brought out and looked after at every level where supervisors are identifying training needs and accordingly the training are customised and crafted.
Finally, always know that the primary need in the hospitality industry is to understand what our customer expects and to exceed that expectation
Growth catalyst and founder of T- Ventures, Mr. Thomas Abraham shares how millennials are redefining the start up businesses with their innovative ideas, trial & error approach and by embracing latest technology. He also explain how start ups can scale up their business with the right approach and strategic structure.
Two years ago, I decided to step out and set up a consulting practice, really working towards being a growth catalyst for entrepreneurs who have technology based businesses in certain emerging areas and helping them scale up. I saw a significant opportunity in a lot of early stage companies in the tech space who have great product, who have decent funding and they need a lot of help in building their go to market strategy and helping them scale up, and that is really where I come in. I am very hands on with these companies and i am full time.
My focus is around companies with software in a service space, who have applications and solutions for businesses, that is SaaS products in the B2B space. That is where i have decided to focus on because i realized it is importance to be focused, when you want to be a growth catalyst for a set of organizations. The role that i play for them is in helping them define their go to market strategy. because there are so many opportunities so you need to be very focused on what you do, it is important to be very clear about how to go to market. Do you have a model which is, do you you go to market directly to a lot of customers, do you build some partnership or alliance?
One area that i have seen in this space and i am in which is SaaS product companies in the B2B space and in emerging technology is that it is extreamly important to have very good alliense and partnership with consulting firms, with big four it could be with various other consulting firms or it could be with various other IT firms.
The reality is that the millennials who start businesses have no prior experiences, so they have fantastic ideas they are very creative there savvy in technology or in certain other areas so they star their business and they learn on the job it is a trial and error some of them are born leaders because they have displayed leadership qualities in their colleges in various fora, so some of them are natural leaders and many of them are not. They have to go through the learning process so for them if they can answer the question, "why?", then half the job is done because their belief because when you have a strong belief then it permeates to the other people around and the evolution of a start up from an early stage to a second leader stage. Founders have a different set of skills number one, number two they have a limited amount of time so the way we need to address their requirement need to be quite different in a executive education perspective than the traditional way in which executive education is run. They require a very niche areas while they might be goods in technology and this is something i have seen technology is rapidly evolving so if you are in AI, IOT or Block chain, data sciences, its evolving so rapidly that you may come with a set of skills in the beginning when you set up your company but it is important to you even tho you are a technology person for you to ask that constantly. This can come through to some sort of structured learning, and also can come through some significant networking so there should be certain kind of ecosystem for these founders to collaborate with and flourish. It could be a mix of both structured and un-structured so the way we need to look at executive education probably for these companies is quite different in the sense that you need to have a blend of some level of structure but a lot of practical exposure a lot of connectivity that you can build with research organization for example, it is a great opportunity for Indian organizations as part of this entire executive education so to speak to collaborate with universities in the US where there is a lot of cutting edge research happening. Quite honestly a lot of these companies are not doing it because they do not know how to do it. I think the academia can play a role in bridging the gap bring in some structured content as well as building some significant plannings for them, so we need to re-look on how this executive education is run for startups.
Executive trainer and CEO of Aquil Busrai consulting, Dr Aquil Busrai in this exclusive interview with XEDGlobal explain how Indian executives have more than 'one career' and how 'customised training' can re-equip them to face challenges and changes.
He also emphasized on the need to 'adopt' and 'adapt' to stay with change. Technology has brought in a sudden change in work style, therefore customised executive training programs can help re-skill and re-learn.
According to him, technology is reducing time and cost. It is imperative for companies to retain the human resource by constant skilling and knowledge sharing.
As an experienced trainer himself, Dr. Busrai feels that the millennials need shorter trainer courses and that too according to their convenience. He feels that instead of week-long classroom-based programmes, shorter online courses at executives priority and at convenience will serve the purpose better.
Talking about HR intervention and it's importance, Dr. Aquil shares that 'how' training is provided should not be the 'real' concern, however 'what' training, in terms of methodologies, case studies should be given priority. He feels that India lacks in indigenous case studies and still is depended on the west for the same. Indian case studies will help better identify and address executives challenges.
In this exclusive interview with XEDGlobal, Dr. Darlie Koshy, Director & CEO of Apparel Training & Design Centre, explains the need for transforming skills into competency and knowledge to avoid stagnation at work.
We have trained around 3,00,000 people, under which 2,15,000 have been trained under the program of Ministry of Textiles called Integrated Skill Development scheme. We train people from 300 hours to 3000 hours and give them a bachelors degree. There is also an institute of Apparel Management, which is a sister organisation. There we have training and international programmes for managers and executives.
Fashion being a perishable phenomenon, you need to look at people with a very different mindset. Change is the new norm, there are brands like Zara which rewrote the whole rules and phenomenon. You are talking about an industry which is based entirely on change and time and this requires very different kind of people. One should look at this industry very dynamically, technology has changed and time span has shrunk. Therefore you are looking at the group of people who needs continuous training. A major company approached us recently to develop an executive program to train their executives on fabrics and how to use fabric. Fabrics constitute 60 to 70 % of the cost. Most people don't know much about fabric. We found out that many are afraid to tell their boss that they don't know what fabric they are working on. So we conducted a programme. Lifelong learning is a must in this industry and will help the executives.
Industries which are subject to rapid technological, environmental & mindset changes, the people there should have continuous exposure to changes and training. The other day in a meeting we saw how robotics have come into garment manufacturing, how laser and holding etc are changing. So we need to emphasize on training both physical classrooms and virtual ones.
In India, there are around 500 million are youth, so India has a chance to influence global fashion. We have a demographic advantage in the globalisation scenario. Ideas have to be customised for India, major brands look at Indian youth and create fashion. So it's extremely critical for Indian executives that they should consider their career is going to be 5 to 6 times. Each job will bring in different challenges. To face these challenges one must convert skills into competency. therefore skills along with competence and knowledge create better outcomes.
Skills applied in a certain context of a job becomes competency. Competency, when developed in insights and experiences, becomes a knowledge which can be imparted to juniors. this process should be made alive all your career so then you will never face stagnation in your career.
Mr Kamal Singh, Executive Director of UN Global Compact Network India, in this exclusive chat with XEDGlobal shares how Indian companies must match up with global standards by continuous training and development of their employees. He also draws an interesting contrast between private sector executive education and public sector training available in India.
The biggest challenge across the globe and especially for India is the lack of effective leadership. We have a leadership deficit. Everyone feels that he or she is a leader, but it takes much more to become a true leader. you have to be inspiring, motivating, have a subject domain, put together the perspective of the business and lead by example.
Today, we are part of the specialised world and we have to align our requirement of knowledge and skill set as per global standards. How do we reinvent the need for training and education, especially in the new business landscape? This landscape has different requirements than the education many of us had. There is a great future for short-term courses, as people will not only increase their knowledge base but also their skills. So I feel everyone who are in their entrepreneurship journey or workspace must attend such courses and revisit and improve their skill set.
One immediate need would be to always upgrade on technology, So technological skills would be the key requirement. This will start with data analytics, artificial intelligence etc.
Companies, who have not aspired to become sustainable companies will disappear. There is one thing with which company can survive, by continuously upgrading themselves and by making their team and managers very competitive. Those companies globally and in India which has survived all unpredictable environment had have given preference to training and system of knowledge creation and skills have survived.
There has been a significant development in the private sector, which has not happened in public sector. Many PSUs have their own academy these days, so at times public sector excels when compared to private sector when it comes to training and development.
Four tips for managing your career from Rob Falzon ’83, CFO of Prudential and a 35-year veteran of the company.
Columbia Business School: You started at Prudential in 1983, 35 years ago. That's a significant tenure at one company for anyone these days. How did you start there, and what drew you to Prudential in the first place?
Rob Falzon: I had the fortune of being able to go directly from undergraduate to graduate school. That was an advantage in many respects. It allowed me to finish out my education without interrupting my career. It was a disadvantage, though, when it came to interviewing for jobs. My initial desire was to get into something like investment banking, but I found that, given my lack of experience, I was less competitive for those roles, whereas I had a lot of opportunities to go into traditional banking.
As I interviewed, the opportunity at Prudential seemed interesting because the role was a hybrid between traditional banking and investment banking. I thought it offered a more challenging and interesting beginning to my career and so that's what originally drew me to Prudential.
I’ve stayed for a very long period of time, it’s true, but I’ve had four very distinct careers. I’ve been able to change what I was doing without changing the company that I worked for.
While I’ve had opportunities to leave Prudential throughout my career, I made the decision to stay with the company because I like the culture, I like the focus on talent, and I connect with the mission of the company. I’ve been able to progress my career and do different things in an environment that I could blossom in.
CBS: Given your tenure with Prudential, do you think that people are mistaken when they look at the job market and feel that they need to hop around in order to gain experience?
RF: I have three adult children, aged 25 to 31. Two of them are on their third job, and the third is on his second. They've now had more jobs in their less-than-a-decade-long careers than I've had in my three and a half decades of a career. I’ve encouraged the moves that they've made because in each instance they were making a move to gain experiences that they couldn't get where they were.
The lesson for companies, and for leaders like myself, is that you have to pay attention to that. Having learned from the experience that I had, the mobility that I had, and the diversity of experiences that I had—which turned out to be a really good thing for my own career—I looked at it and said, “Well, you know, everyone should be doing this.”
If we can offer people the opportunity to gain new experience within the company, we can actually keep these people instead of having them leave to get that experience elsewhere. So, I'm very focused on what we call a ”mobility programme,” both within the broader enterprise and specifically within the financial organization that I run, and we make an effort to move people around.
If someone's been in a position for four years, I think, “Let’s take a look at that person.” If they're a high performer, let’s get them out of that job and into a new experience because it's time for them to learn something. If we don't do that, they will—and they'll do it by leaving the company.
CBS: In 35 years, obviously there must have been times though when you’ve wanted to throw your hands up and walk away from the organization. What's kept you there?
RF: There are always frustrations. There are frustrations in executing against business. There are frustrations in dealing with people. And there's always the struggle of work-life balance, though I don't really like to use the word “balance”—it's a dynamic, not a balance.
People’s level of engagement goes through cycles. I've remained highly engaged at Prudential because of my connection to the mission of the company. At Prudential, we make promises that improve people’s quality of life and financial security. That's something that resonates a lot with me. And working in a place where I can connect with what we're doing—that it's not just about commercial success—is important to me.
The culture of the organization fits me. Our chairman says, “We're low ego, no drama, high impact,” and those are the kind of people that I like to work with. And I've developed really good relationships with individuals and that's helped my career along the way and that's part of the bond that I now have with the organization. The diversity of experience that I've been able to have, the culture and mission of the organization, and the relationships that I’ve developed—despite periods where I’ve felt less connected—all contributed to my desire to stay and continue my career there.
CBS: Thinking specifically about finance, you’ve spoken before about how core skills in finance and accounting are still essential, but there's a much broader skill set that people need now. What is that broader skill set and why do you think it's so important now?
RF: At the core, people need basic technical skills in order for them to be successful in their careers, particularly in the initial stages. My experience has been that your first, and probably even your second, promotion is going to come by virtue of being a really good technician in whatever your area is, and that's not just in finance.
As you continue to progress your career, a broader set of technical skills becomes more important. As that set of skills broadens out, soft skills become critical.
At Prudential, we look for this early in people’s careers. You want to make sure they have good interpersonal skills, that they play well as part of a team, and that they find ways to have an impact as a team as opposed to just as individuals.
As they continue to evolve in their career, becoming managers and leaders, communication skills become increasingly important. When people ask me, “What do you think was the key driver that led to your becoming CFO?” I say, “Surprisingly, it's probably communication.”
Being able to explain really complicated things in a very simple fashion without losing substance is a skill that people need to develop in all areas. And I think, in my case, that skill contributed significantly to the board's decision that I could take over the CFO role.
Prof Irfan A. Rizvi of International Management Institute (IMI), New Delhi, explains how B-schools upgrading Executive Education programmes to cater to the fast-paced corporate growth.
To me, the role of the leader is to bring about a positive change. If you are not bringing a positive change wherever you are, then you are not operating as a good leader. Leadership is an influencing process, you influence people and through people, you influence products and processes. This happens successfully when you can visualise what changes are needed and when you can bring it very effectively. Therefore leadership is a process of bringing about a positive change.
Not only in this fast-changing environment, but even otherwise continuous learning is very critical for executives. If you don't learn you will fall by the side. We want to earn degrees to be called educated, however, the actual learning or skilling in terms of competency is lacking.
Over the period of last 15 years, the pace of change has multiplied and to keep up with the work pace, learning, unlearning and continuous learning is very important. Today the businesses are impacted by a large number of factors than in the past. So businesses cant run the same way, we have to do away with legacy systems. Executives should have the capability to change with environment and time.
The average tenure of the employee has come down. So in this context, the companies must know that the investment they make should incur returns. If an employee leaves in between, there is a problem. So it is a catch 22 situation, if you don't invest in them, then they will go, if you invest and don't get returns, then there is a problem. We are living in a very cost sensitive workspace. However progressive organisations cannot run away from investing in upgrading the skills and knowledge base of their employees.
In the academic world also, there are institutions who are on the cutting edge of knowledge and practice, so they keep on upgrading their curriculum. In IMI, we keep revising the curriculum every 2 years. If something new is inducted into the environment and general world, we offer that to the students. We also invite people from corporates to interact with our students. In short-term programmes, we always ensure that the programmes we create are in synergy with the need of the corporate. So we believe in collaboration. Recently a team from New Jersey university was here, we discussed and collaborated to create effective programs. In all these efforts, the India companies are benefitted and contribute to the economy.
The former COO of Metropolis, Mr Sameer Kaul, in this exclusive chat with XEDGlobal, emphasizes the need of customized entrepreneurial executive education courses in India. He also draws the need of different styles of leadership in the wake of a startup revolution in the country.
I had the opportunity to work with owners of companies directly. I was directly instrumental in affecting changes across sectors where I worked. I think startups are the future, startups are the disrupters of the market. Big companies, after a while, get into a complacency mode as they are doing the same thing and become inward looking. E-commerce will be at the forefront. You can scale up the business, you can grow your brand, and the cost is less. A lot of people are getting into it.
Apparently, there is no comprehensive course for entrepreneurship in India. It’s a very different ball game and a conventional method cannot be applied. So, I believe there will be specialised courses which will be aligned to that, which is not happening yet in India. Organizations have to be visionaries, they should know what is happening in their sector. They have to be in constant touch with B-Schools and understand what programmes will work for them. They have to customize courses, rather than taking courses which are available like strategy, consumer behaviour or marketing. The courses have to be customized, they have to be made as per the company’s requirement. You have to take these courses regularly, some courses which I took a few years ago may not be relevant today. Therefore professional today must take regular executive education courses.
The HR in India is still at ‘human resource’ and hasn’t reached ‘talent resource’. Yes, it has moved from 'personnel management' to 'human resource'. However, it has not moved to ‘strategic human resource’ where you are aligning all the talent of the company to strategic approach. A lot of courses are given to candidates like an incentive to upgrade their skills. However still, it’s not enough because the MDP needs of every individual are different. In the world and in India, there is a need for a matchmaker who will look at the B-schools and corporates to create the connection.
Leadership in one company may not be the right thing you implement in another company. If you are a CEO of a start-up the needs and background you need will be different from what a conglomerate leader would need. Also, emotional leadership is very important these days, you should know your team well and have an emphatic nature. The leader should lead by example. The leader should walk the talk.
Your vision and mission for the company should flow from your strength. Your vision should come from your own strengths and passion, the entire organization should be aligned with it.
Mr. Deep Bali, CEO & Managing Partner of Recalibrate, in this exclusive interview with XEDGlobal explains how business growth and people transformation are key aspects of every organization. He also highlights the various kinds of leadership and where India needs executive training to enhance the same.
We work with lot of CEOs and CTOs of startups not just in India, but globally. We personally coach them. Recently we worked with few startups. What needs to be understood here is that the training that works for the West does not work here, because of attitude and comprehension. Technically we are very savvy, we like to play around, we are analytical, and we are investigative. We need to be creative and involve more of spatial thinking. So it’s more to do with thinking than skills. We always start with ‘where we are’ than ‘where we have to be’. For any training or executive coaching, we at Recalibrate are the pioneers in brining Columbia coaching, yet it is a high end process. When we want to deploy into organisations who get attracted and who want that, the key prices, the uptake and level of where we are today. Are we ready to receive international standards, shouldn’t it be progressive?
In US people believe in short executive courses, because they are very specific, they could be of certain expertise and you can use it very dynamically. So lot of the MBA programs are theoretical and people still does not get a chance to apply. So definitely, the short executive programs are potential game changers when backed by technology. When we have our leadership programs for organisations, we have modules on mobile Apps and people are monitoring online.
There is a wakeup call happening here, the other nations are not far behind. No one is sitting there and watching India or China grow. So I feel it’s less to do with budgets and more to do with priorities and that is a very cultural piece as well. If they are more engaged in firefighting, in executing in keeping overseas US clients happy, then where is the time? The focus is more on business growth. Some companies are actually opening up to that. They have lot of budgets for learning and leadership training, so I guess it’s about focus and less to do with budgets.
Companies invest lot in technology but less in people. I feel leadership is induced, it’s either induced by how your Parents have engaged you, or how your managers have engaged you. Yes, there are lot of programs that tell you about authentic leadership, pure leadership and how you impact people and organization. Yet it is sustainable, it can be learned to an extent, but it is more about experience, more about your role model and who have led you.
If you look at leadership, there are either people leaders, professional leaders or the pioneering leaders today. India has lot of professional leaders, which means they are really good with investigation, research and analytics. They seem to be scoring high there. What we need is ‘people impact’, so to react to people in a situation and these are areas where work needs to be done. Then come to pioneering areas. The impact areas should be business growth, organizational transformation and people transformation.
Creative Director of New Zealand Institute of Creativity, Ms. Victoria Spackman, in this exclusive interview with XEDGlobal emphasizes the importance of creativity in work spaces and how leaders can ensure creative sharing in their teams.
The world is changing quickly; it is turning more technical and technology driven. As leaders and executives, what we learned in schools and universities are obsolete these days. Therefore it’s important that people maintain there skill level, interest, curiosity, excitement in the world and where Executive Education is of utmost importance.
Executive education in creative field is quite an interesting aspect and there are numerous parts to it. One of the prime questions is that working in a non creative sector like medical field, engineering etc, how do you manage creativity? As a leader or manager how does your work ensure that your colleagues are creative, open and expressive in the way they bring their ideas to the table. I think this can be taught. Good managers and leaders are interested in improving the way they behave and to get the best out of other people and I think that can happen in any level.
There is a skill of leading creative people. There are artists, dancers, singer, and creative writers. There are special ways to lead these people, through collaboration, listening, encouragement, active contribution etc. People, who are creative, love to be part of what they do and try to change the world they work in.
One of the things that we come across is teamwork and encouragement of team work is the way people work together. Teams are changing frequently and people are staying interested, new people are bringing something new and exciting to the group. If you have the same group for all the while, that group can stagnate. New ideas are either not respected or challenged when they are brought in. One of the key things is, how you make these teams and how do you lead them in present and future.
I lead a school called, New Zealand institute of Creativity. It’s a basket and place of innovation. In this school we teach music, dance, performances, creative writing, radio, design, digital media etc. As I lead the team I make sure that teachers and students are in the best possible position to flourish and understand not only their skills, but increase it in a creative environment. Also trigger and understand the ideas trapped in them.
Creativity is a vital skill for future and we must ensure that we must bring it out from everyone. I don’t think we can teach creativity, but one of the ways to teach is to help people uncover themselves.
Prof Usha Iyer Raniga, Associate Professor at RMIT University Australia in this exclusive interview with XEDGlobal, emphasis on the need of Soft Skills and Creative Abilities in today’s workforce and how effective ExEd training and courses will help acquire the same.
Executive training has become a very important issue, not just in Australia but I think globally. This is because most students are graduating well from a technical competency point of view, but they are not getting the needed softer skills and the ability to be more creative at work as we move into more automation and technology-based processes. What we find is that the foundations of such levels of knowledge are provided in the bachelor’s degree, but that do not match with the job on the ground. So when executives become managers or senior management professionals, making decisions. That is where Executive Education becomes very critical. So the role of micro-credentials like diplomas is often tailored specifically for the industries. We often develop these based on what industry is telling us. We keep a very close eye on what is happening in the industry. Our university, the RMIT, has a very strong connection with the industry, therefore it’s very easy for us to do it. We create programs, we tweak it, we innovate because we are able to be flexible and agile.
We work with some big industries in the property and construction sector like Brookfield, Property Council of Australia, Property Management Institute, Australia. They are our integral partners. Some of them are also part of our advisory board and thus they are able to tell us what will be the next wave in the industry so that we are better prepared. We are ready and well equipped to offer these competitive advantages to our students too.
In Singapore and Australia, there is a lot of focus on productivity in construction and production increases with automation. This means that you need to have a workforce to meet these challenges, therefore these workforces need to be skilled and re-skilled in order to meet these demands. I think mid-level managers like IT managers, programmers, executives; technical people from the engineering backgrounds are no longer depending on the technical skills alone. They need to add layers to their job to become more competitive, not for themselves but for the companies they are working for. For example, a person who was a technical engineer 10 years ago, today, needs to be more creative in his businesses. This creativity comes from emotional intelligence, cultural intelligence, being agile, making sure that they are not left behind; they are equally marketable currently and in future. For this executive, training is really important
Director, IMT Ghaziabad, Dr. Atish Chattopadhyay in this exclusive interview with XEDGlobal speaks how the institute is constantly focusing on continuous learning and development management, preparing executives for the future.
Excerpts from the Interview with Director, IMT Ghaziabad, Dr. Atish Chattopadhyay.....
So when Virat Kohli goes out with his team abroad, everyone expects the team to win. So anything except a win, we take it as a rare exception. We must understand this generation; today it’s the Kohli workforce which has come to work. They think that they can achieve anything, they can create, they can lead and they can dominate. That’s the spirit of young India.
One of the key things today is to understand the market, how do you understand market forces that are across various sectors. Second, how do you understand organisational dynamics, leadership and create multiple leaders within the organisation. More essentially entrepreneurs. These are the areas we are focusing on and doing well as a business school, in terms of entrepreneurship, market sensing, organisational dynamics and leadership development.
One of the areas we will be actively focusing in the coming future and which is in sync with what India needs today is 'Development Management'. We would be one of the few schools in India, which has a strong department of development management. In development management, we are actively looking at capacity building. For example, what is the impact of Swacch Bharat and what is the right way of executing it?
The companies today realise that the ‘war’ in today’s market is the ‘war’ for talent, which also implies that talent also needs to be developed. So the demand is two way, individuals wanting to learn and employers wanting their employees to learn and because of this twin forces, executive education is gaining momentum in India. The market is very big and there are many areas to focus on, therefore we don’t need to think that there is a competition. Bigger players and more reputed players entering will only create more consciousness and momentum in the market and it will help expand the market. Going forward the shift will be towards executive education and short-term courses. When I mean short-term courses, it won’t be just conventional classroom courses, but it will be a blended approach.
As of now, most of our programs are customised based on the needs of the companies. You will shortly see that we will come up with open enrolment programs in emerging areas. For example, digital marketing and sales. We are one of the first institutes to have an integrated lab with digital media and analytics. We cannot see each of these separately, these have all become integrated. So our programs will be open enrolment, blended, partly online- which is remote learning and partly on the campus. These are in addition to the customised programs already offered.
India is a service economy and becoming service dominated area. Another thing which will be important in the coming times would be how to create a service orientation within the organisation. That is where IMT has started taking a lead.
Dr. Rajan Saxena, Vice Chancellor and Distinguished Professor of Marketing in NMIMS, in this exclusive interview with XEDGlobal very effectively explains how Executive Education will be relevant in the times to come. He also talks about the challenge of curating effective customised programmes for training and discovering solutions in the growing corporate sector.
Excerpts from the Interview
Today when organisations are rapidly changing, primarily due to technological innovation, demographic changes and globalisation, jobs and skills have a shorter life cycle than before. As a result of this, what used to exist earlier that 'I have an MBA or Diploma and I am fit for life and I don't need to do anything' is not relevant today. This idea has ceased to exist and further will cease to exist. Individuals will have to continuously upgrade their knowledge and the skills. So executive education and its different forms will grow and undergo rapid change. So from that point of view, executive education has lot relevance in the times to come.
NMIMS since its inception in 1981, as a management school, had executive education as one of its key pillars. We certainly believe that its the way forward. Our genesis lies in executive education and being in Mumbai we learned very quickly that, the only way we can grow and be relevant is by being useful to corporates and the only way was to introduce 'real' education and training.We do a lot of programmes today for corporates like ICICI Bank, L&T, Crisil and many other companies. These are not only offered in Mumbai but in our other campuses in Hyderabad and Bangalore.
Foreign universities are doing a tremendous amount of job for all of us, largely because they help us develop markets. What is going to happen is that it is not merely the universities which will be offering executive education. It will not just be a classroom, but more of a virtual world. Education will move into the virtual space and executives will be able to select courses from different places. Universities should come with a mechanism of accreditation, wherein if the executive has picked up a course, let us say in the design, or product development from Stanford and maybe a course on digital marketing from NMIMS then the executive education department wouldn't have to think about an equivalence of a credit system.I think the only challenge we face today is how do we make executive education customized.
Mr. Deepak Chandra in this exclusive interview talks about the importance of effective research and detailed case studies in business education. He also narrates his own experiences and experiments at ISB, where he established a robust executive education department.
According to him, continuously learning and revisiting familiar content keeps one prepared to respond to situations and challenges.
All India Management Association Education Director, Dr. Raj Aggarwal, in this exclusive interview emphasises on the current disruptions and innovation in the Indian corporate sector and how effective executive education can help better mange the same.He also talks about how US & China invest considerable portion of their GDP for research & development, also how India is catching up through substantial efforts in the past 5 years.
Trailer for a new book, "The Three Box Solution," by Vijay Govindarajan. Leaders already know that innovation calls for a different set of activities, skills, methods, metrics, mindsets, and leadership approaches. And it is well understood that creating a new business and optimizing an already existing one are two fundamentally different management challenges. The real problem for leaders is doing both, simultaneously. How do you meet the performance requirements of the existing business—one that is still thriving—while dramatically reinventing it? How do you envision a change in your current business model before a crisis forces you to abandon it?
Source : http://exec.tuck.dartmouth.edu/news-knowledge/videos
Video Source: https://www.youtube.com/watch?v=kj4yKCRMfTM
An insightful talk on the significance of leadership and how it can acquire through executive education. Mr Dilip Chenoy emphasis on the importance executive education by industry organisations. He also emphasizes on why leadership training is important at all levels of the management and how mid-level management should be provided with opportunities to pursue dreams and aspirations.
Former Dean of IIFT, New Delhi Prof. Bhattacharyya narrates the evolution of MDP's in India. He also talks about how the growing corporate sector in India, gave rise to a robust Executive Education in Indian Business schools. He also identifies the key areas where Executive Education will vital including strategy, technology etc.
Reliance Industries Ltd. Chairman, Mukesh Ambani believes that India will lead the world in the 4th Industrial revolution. Data is the new oil and India has it in superabundance. Data availability, competence and the entrepreneurial energies in the 63%youngsters in the country will usher India to lead and capitalize the 4th Industrial revolution and build new digital businesses. Ambani also believes that the future is all set to see the birth of a million startups in India with the availability of right digital tools & appropriate ecosystems.
Globally renowned 'Leadership Guru' Michael Useem of the Wharton School talks about, how there will be drastic changes in the corporate sector in the coming years and how leadership holds the key to manage those.
Although the characters of family businesses in China vary, they face similarities in the obstacles they face while going forward. First is the challenge of succession, many companies are facing these problems for the first time, a transition from a dynamic entrepreneurship first generation to another. So the facets and challenges of family businesses in China is varied and interesting to study.
Nowadays, Information Technology (IT) is a permanent part of business management. Do you like having the pivotal role in your organization? Is it your ambition to shape the future of your company? The need for information technology managers who are able to match IT processes with an overall strategy is growing daily.
NBA star Chris Paul and Hollywood Star Channing Tatum reflect their experience on The Business of Entertainment, Media, and Sports program at Harvard Business School
The Executive Chairman of the company, Happiest Minds which leaves no stone unturned to be a mindful IT company is Mr. Ashok Soota. He believes that Leadership is now global where we cannot afford to fall back in terms of Speed, Adaptability or in coping with uncertainties. In conversation with Mr. Soota, he explains the challenges and promises of Leadership Development through Executive Education and focusing on the importance of 'Learning, Improving and Applying' from the programs to do things differently.
In conversation with the Co-founder and Director of NIIT Technologies, Vijay Thadani, who believes that a true leader is not the ruler of his work force but a servant who serves relentlessly. A Leader must allow freedom of speech to voice disagreements and most importantly to freedom to challenge the system.
Renowned and Respected Professor Ashish Nanda moved on from the Indian Institute of Management, Ahmedabad. In an exit interview, he shares his views on Executive Education and its greater importance in the coming years.
In conversation with Sarika Mehta, Founder S.M. Associates who strongly believes in 'Continuous Learning' to not only bring more value to the organization but also to reflect back and comprehend your own strengths. She shares her ExEd experience in B-schools like McGill and Stanford which has helped her build some of the skills like Communication and Leadership which did not come naturally to her.
Her journey has allowed her to transform and adapt to the changes around her, to rise as a leader with principles like Humility, Honesty, Integrity, and most importantly Fearlessness.
Gaurav Dalmia, Chairman -Dalmia Group Holdings in conversation with George Skaria of XEDGlobal speaks about Corporate Practices in Family Business.
He says that while 'Skill Development' is an important factor that can be efficiently gained through Executive Education the Differentiating Factor for success are Temperament, Passion and Good Judgment.