Organisations must manage for the long-term to make an enduring impact, said Mr Shanker Annaswamy, Managing Director, IBM India. Speaking at the 55th annual general meeting of the Madras Management Association on ‘Leadership and Managerial Excellence,' Mr Annaswamy said while CEOs have the pressure of being judged quarter-to-quarter, they also must manage for the long-term.
“This is not for the faint-hearted. One must be able to take tough decisions,” he said, taking the example of IBM exiting the PC business.
Good leaders lead from the front and don't duck from challenging tasks. They also excite and mentor others and create future leaders, Mr Annaswamy said.
Mr N. K. Ranganath, President, Madras Management Association, said one has to be obstinate and stick to his or her values. Rational human beings don't go too far: stretch yourself a little bit to achieve excellence, said Mr Ranganath. Prof N. Ravichandran, Director, IIM Indore, said excellent organisations are those that keep redefining themselves. Prof Ravichandran released a case study on MMA prepared by IIM Indore.
Awards presented
The event also saw the presentation of the 10th MMA awards for managerial excellence. The winners are Carborundum Universal (manufacturing category), Everonn Education (services), Formulated Polymers (SMEs) and Great Lakes Institute of Management Education (educational institutions).