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| Changing the Managerial Mindset |
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As part of the ISB Leadership Summit, The General Management panel had a host of distinguished panellists to discuss the topic, "India Inc - Changing the Managerial Mindset". The panellists were Narayan Ramachandran, Country Head and Chief Executive Officer, Morgan Stanley India, Prasad Kaipa, Executive Director, Centre for Leadership, Innovation and Change (CLIC), ISB, T V Mohandas Pai, Member of the Board and Director-Human Resources, Infosys Technologies Limited, Flt Lt Bipin Chandra, Chief Operating Officer, Knoah Solutions and Kali Prasad, Partner, Ernst & Young.
 Ramachandran started off the discussion by illustrating the need for change. He said that some comparison of the current economic situation with the 1929 depression but said the intensity was not the same. “Even if every dollar of the Federal Reserve was spent on solving the problem, it still would not be resolved,” he remarked, emphasizing that the magnitude of the problem was such that it was not even in the control of the central banks.
He added that the study of important events from the past has its place, saying that lessons needed to be learnt from the 1929 depression. “We need to abandon ideology and embrace pragmatism as the best way forward,” he said.
The next panellist, Pai, said that the next 10-20 years will be the most exciting years in the India’s long economic history. He added that the largest challenge India faces as it globalises is finding the right managers. “As Indian companies grow, the biggest shortage they face will be of managers with a global mindset,” he said. He talked about the paradox in management thought around the world and said that to be global, there is a need to source people and capital from around the world. “If you are risk averse, you will never succeed,” he concluded.
Prasad followed with a talk on the ‘importance of the entrepreneurial business environment and the innovative mindset’. He said that one of the reasons for India not being in the top ten economies was the complex regulatory environment. He added that companies have to look at the entire ecosystem, not just at their own role. “In the current economy, companies have a responsibility, not to splurge, but to spend,” he said. Chandra then gave a talk on ‘Indian Managers: Do we appreciate the opportunity? Can we meet the global competition?’. He said the influencing factors in Indian society were Karma, Dharma, Religion and the caste system. He said the strengths of Indian managers were tech savvy, ability to empathize with consumers, capability of applying global standards and best practices, creating cost-quality trade off and appreciating multicultural diversity. He concluded that the Indian manager has to emulate ‘trimurthi’ roles as, ‘Brahma- the creator’, ‘Vishnu-the sustainer’ and ‘Shiva-the destroyer’. Kaipa gave the concluding presentation on the challenges in transforming an Indian manager from a local expert to a global manager. He said that Indian managers have high potential but need external support to ignite their genius.
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