Financial Daily from THE HINDU group of publications
Friday, Sep 13, 2002
Financial Daily from THE HINDU group of publications Friday, Sep 13, 2002 |
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Industry & Economy
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Events Focus on winning for nation, says Pitroda Our Bureau
KOLKATA, Sept. 12 MR Sam Pitroda, CEO, World-Tel, US, today advised captains of Indian industry to desist from focussing on winning for themselves and, instead, concentrate on winning for their "organisations, employees, shareholders, customers and for the community and nation as a whole''. Delivering the keynote address on `Winning the new future' at the inaugural session of the 29th National Management Convention of All India Management Association (AIMA) here, Mr Pitroda asked industry to change attitudes drastically "before we go broke''. In a global economy which is devoid of geographical boundaries, it would be imperative to cultivate a global outlook to corporate ambitions, work practices and ethics and corporate governance, among other things. Mr Pitroda said companies must adopt new technologies with a view to reducing costs and redefine the value chain with regard to products and processes. Industry must forge partnerships with the government to facilitate policies that would provide a boost to investment and industry. To build the right kind of human resources base, it would be imperative for industry to enter into alliances with universities, technical institutes and centres of excellence. Speaking on the occasion, Mr Deepak Parekh, Chairman of HDFC Ltd, urged corporates to aim at achieving success by being "principle-centric'' instead of trying to achieve success by "subverting the system''. He said winners in the future would be the ones who can predict the possible consequences of events that have already happened and devise their strategies accordingly. Dr J.J. Irani, Director of Tata Sons and Chairman of the Convention Committee, said Indian industry must learn lessons from the past and re-invent and re-shape their respective organisations so that they can emerge as winners. "The winner takes all, but winning is not easy. Sometimes, difficult and bold decisions have to be made in the process''. The President of AIMA, Mr Rajive Kaul, said the organisation would soon unfold a blueprint and agenda for Indian industry that would facilitate the creation of 40 million additional jobs and a big boost to the national wealth by 2020. The blueprint suggests that, by that time, India would have emerged as the third-largest economy in the world after the US and China.
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