Special Lecture by Mr. Kamal Singh, Director General, NHRDN on 11 th Feb 2017 on “Emerging Trends in Global Business: Industry Expectations from
On 11 th February 2017, it was a matter of pride for PGDM-IB students of batch 2016-18 to be a part of special lecture by Mr. Kamal Singh, Director General, NHDRN, India’s leading HR professional body. Ms. Rupali Singh, Sr. Manager, Programme for International Business introduced the guest to the audience and welcomed him. Thereafter, Mr. Kamal Singh started deliberating on the topic with a few slide-shows so as to open up the minds of students.
Mr. Singh said that along with keeping a track of the emerging trends in business, one should also understand as to what kind of managers/leaders we need. He had beautifully provoked students to identify various attributes that are important in any employee to be a successful leader in the industry. He cited many examples of industry while connecting the importance of each attribute which is a compilation of study and researches made. The top most being ‘Passion to Win’ followed by ‘Integrity’, ‘Dedication’, ‘Creativity’, ‘Cross Cultural Skills’ etc. Some students raised questions with regards to attributes like Quality and Ethics, which was well answered by Mr. Kamal Singh deliberating with live examples and situations from the industry.
Further he shared how Mr. A M Naik (L&T), Mr Yogi Deveshwar (ITC Ltd), Mr Anand Mahindra (M & M) are managing In the Era of Uncertainty by ‘feeling comfortable in new encounters’, ‘dealing with multiple issues at the same time with different characteristics in a same frame of mind’, ‘Confronting new situations with an open mind’ and ‘Creating a pool of experience – based upon lessons learned which will be critical to manage the Challenges’.
As we are facing changes in unprecedented speed, Mr. Singh discussed the various reasons which require capability for business to respond to the unforeseen situations. There is pressure for radical thinking with changing expectations of businesses and customers.
He said “Business has changed a lot over time. Due to globalization, competition is increasing and companies are moving towards less diversification i.e. they are focused on working on their core competencies and outsourcing the non-core activities”. He further said that the market is changing at a high speed where there is news of mergers and acquisitions every now and then, citing examples of Tata Motors taking over Jaguar and Vodafone taking over Hutch, etc. Mr. Singh further added that Customer is the King in today’s business scenario and companies are moulding their product according to customer’s need. This is because customer’s expectations have increased over the years and today the customer is more educated about the market and the product.
Along with the customers, employees have also become more important for the companies and companies are making efforts to keep employees happy and reduce employee turnover e.g., the HR policy of NIT gives the employees a dating allowance. This is because there has been an ever increasing mobility and war of talent. One interesting fact is that because of this war of talent, many companies are surviving like naukri.com. But there is still talent scarcity which means that the available talent is not up to the standards of the industry. Mr. Singh said that this is evident from the survey done by AICTE, which says that only 9% of people are employable. So, this has been a major concern for many companies. Along with this, there has been a major change in Technology and Government Regulations. Technology is changing at a rapid pace and government is making radical changes in the policies to make the market business friendly.
Mr. Kamal Singh concluded his lecture with a beautiful quote from Stephen Covey –
‘To succeed in today’s business, build an empowered organization in which individuals have the knowledge, skills, desire and opportunity to personally succeed in a way that leads to collective organizational success’
Overall session was highly interactive, wherein students freely asked queries as to how to network while working in Industry and the various ways of doing so. With this the session came to an end wherein Prof. Rajeev Sharma and Ms. Rupali Singh thanked the guest for his time and valuable thoughts giving enough food for thought for students including the vision they should form in order to be global leaders and managers!