‘Brace up for a volatile global economy’

Management graduates need to tread cautiously in the interconnected, volatile global economy and brace up for increasing challenges in the digital world, Chanda Kochhar, CEO and MD of ICICI Bank, said.

“As management graduates seeking new careers and as leaders who can make a difference, you need to constantly learn, upgrade skills and unlearn to be able to keep pace with the disruptive world,” said Kochhar while delivering the keynote address to the graduating students at the Indian School of Business (ISB).

Sharing her experience as a banker, she said most people now find it difficult to understand what life was before the growth of the Internet and the increasingly connected digital world. The banker cautioned the management students to watch out for the continued global volatility, which impacts every economy in the interconnected world. However, she felt India was a shining star given the strong economic potential and great demographic advantage, offering immense opportunities.

“India is a bright spot. It is being transformed. Young India is the future of India. The digital, social and mobile era will constantly change business models and the way companies transform themselves in addressing these issues. Indian has managed to leapfrog into digital era which opens up immense opportunities,” she said.

“In such a disruptive world, if companies do not reinvent, business models get disrupted. Therefore, you have to keep learning as existing skills get obsolete. One needs to innovate to be ahead,” she told the management students.

Rajendra Srivastava, Dean, ISB, said: “ISB is the only Indian business school to be featured in the Top 100 research rankings by UT Dallas and No 62 by Financial Times … Within 15 years, the alumni strength has crossed 7,500 spread over 41 countries. More than 4,000 alumni starting new businesses and 400 plus alumni moving on to become CXOs of companies.”

Adi Godrej, Chairman of ISB Board, said, “I have seen the transformation of both the School over the years and of the students who pass through these portals every year. The manner in which the academia and, most importantly, the corporate sector have heartily welcomed ISB students into their fold, speaks volumes about this transformation and the institution that has made it possible.”