India SME Forum conducted an Expert Round Table on Business Leadership in the New Normal to brace for the VUCA world on 28th August 2020. The webinar was graced by eminent industry speakers like Mr. Prahlad Kakkar, Ad Guru, Serial Entrepreneur, and Chairman India SME Forum, Mr. Ajeet Balakrishnan, Founder Chairman CEO and Principal Shareholder, Rediff.com, Mr. Shachindra Nath, Executive Chairman and MD, U GRO Capital, Mr. Rajneesh Kumar, SVP and Chief Corporate Affairs officer, Flipkart Group, Dr. J.S Juneja, Chairman Global Projects & Services Pvt. Ltd. & Vice Chairman India SME Forum, Mr. Vikramjit Singh IPS, Deputy Managing Director, Kerala Infrastructure, Investment Fund Board, Mr. Nilaya Verma, Co-founder and CEO, Primus Partners and Prof. Mahadeo Jaiswal, Director IIM Sambalpur
Speaking during the virtual round table, Prof. Mahadeo Jasiwal shared some insightful lessons on dealing with the pandemic and marching ahead into a new world of opportunities. He emphasized on the need for creating markets and building world-class business education.
Stressing on digital learning he shares “For many years we have been teaching concepts like – Marketing, Economics, HR, Finance but now is the era where everything can be taught digitally. You don’t need to come to the college to learn textbook concepts. At IIM Sambalpur, our focus is on how we can collaborate with industries and create opportunities for our students. The Indian Education needs to adapt Bloom’s taxonomy of learning. We have the ability to create a huge no. of educated people at a very less cost. India, with its vast digital and human resource talent, can capture the global market.”
Mr. Jasiwal emphasized how this pandemic is a great opportunity and to leverage this, either we must become a market or create a market. If we don’t focus on innovative creation, we will ultimately become consumers. He shared how the institute is striving towards creating great opportunities for world-class business education, which can’t be delivered without creation. The institute’s key focus is on how they can collaborate with industries and create opportunities for the students.
Supporting the vision of our Hon’ble Prime Minister’s 5 trillion-dollar economy, he stated that it cannot be achieved by 50 companies. If 1 million SME can create 1-100 million dollars each, they can create more than 5 trillion-dollar economy. He believes if every household and village start creating businesses, we will be able to achieve our target. The institute is also fostering such an education model, where students get to work closely with the industry, for this IIM Sambalpur has signed MOUs with MSME and India SME Forum. The institute aims to create more businesses and turn students into entrepreneurs.
On strategizing for New HR Policies Prof. Jaiswal further adds “There is a lot of change in the consumer behaviour and HR practices. Consumers are scared of moving out, the behaviour is changing and we have to find a way as to how to reach the consumers. There are 3 Ds or disruptions we must look at – Digitalization, Decarbonization, and Democratization. Every person small or big should be the owner of the company. Democratization must happen in education, moreover, the HR Policies should be aligned with democratization.”
Prof. Jaiswal also shared a sneak peek of the Business Leadership Programme that is going to run for nine weeks, fully in the online mode. Quoting Charles Darwin “It is not the strongest of the species that survive, nor the most intelligent, but the one more responsive to change” he shares we all have to re-align ourselves to the current situation. If one becomes an entrepreneur there is a solution for every problem out there.
In the end, Prof. Jasiwal stressed on creating in-house cases. We should not be looking at Harvard for cases; there lies a great opportunity to develop cases in our country and we must make sure these cases are taught all over the world.