Management students should dream big and exhibit courage to realise it, according to Dr. V. Sumantran, Non-Executive Vice-Chairman, Ashok Leyland.
In his presentation on ‘Managing Innovation' made at the inaugural of The Hindu Business Line Club for the academic year 2011-12 at the Sri Venkateswara University here on Saturday, Dr.Sumantran saw innovation as holding the key to ensure progress in the long-run. He urged the students to develop the ability to see the unseen, dare to go farther and master the art of comprehending a situation differently, apart from acquiring the relevant knowledge.
Mechanical environment
Expressing concern over the fall in innovative thinking due to the ordeals of a mechanical environment, he felt India could soon slip from the status of an ‘innovator' to a ‘follower' in a decade. On networking, an important factor in achieving synergy, he said a ‘win-win situation' could be achieved by linking a problem with the solution lying somewhere else.
He rued that the Indian industry is less inclined to collaborate to form consortia, while mobility and the ability to connect continue to be “the bulwark of the US.” Similarly, imposing conformity and disallowing dissent could hamper creative thinking. Failures should be forgiven, for, the fear of failure would mark the end of innovation, he cautioned.
Mr D. Sampath Kumar, Editor, Business Line , regretted that only 15 per cent of students are equipped with the skills required to handle the rigours of the corporate world. Quoting a Crisil report, he said the nation would have to create by 2011-2015 double the number of jobs generated during the last five years, hinting at the intense competition in store for students. “Though you are thorough with academics, you are also expected to be alive to the contemporary business environment. Business Line fills this gap by creating real life situations through case studies,” he said.
Mr K. Venugopal, Director, Kasturi and Sons Ltd, publishers of The Hindu and Business Line , took part as a special guest. The SVU Vice-Chancellor, Mr N. Prabhakara Rao, welcomed Business Line's initiative to help students keep an ear to the dynamic business environment. He recalled in this connection the nomination of several industrialists on the Boards of Studies to make the curriculum industry-relevant.
Mr D.V. Ramana, Head of Department of Management Studies, welcomed the participants.