Uncle Bala's Perspective
Welcome to Great Lakes Institute of Management that is Powered by Knowledge and Steered by Ethical Values with a 'Global Mindset and Indian Roots'. It is with extreme delight that I introduce the second issue of Gravity, the Great Lakes magazine. The theme for this issue is India Balanced Scorecard, a Reality Check.
How do customers see us?
At Great Lakes, excellent start to the placement season, 80 offers trickling in the first two days of placement cycle itself, has set the pace for another eventful year; the admissions for next batch are in full swing.
On a wider perspective, India continues on a dream run of 7-8% growth. It has never been a one dimensional nation and continues to challenge its interpreters. State heads from developed nations are making rounds unaffected by Third World myopia.
But not without an effort, India has been a frontrunner in forging relations. Even in the tentative moments of freedom, when secularism and socialism defined the nationalist ideal, leaders like Nehru had the prescience to foresee the possibilities of liberalization in the post-Stalin Soviet Union and who with Tito and Nasser was one of the chief architects of the nonaligned movement. Russian alliance got a further boost with Mr. Gorbachev transforming the former Soviet Union to the current group of Russian nations. Global relations seem to have come full circle and India's intent in the past one decade seem to have borne fruits with President Bush approving the nuclear deal, helping meet one of the key infrastructure challenges of an energy starved nation. The successful transformation of the US-INDIA relationship will have a decisive and positive influence on the future International System, such that India will benefit by leaps and bounds.
If India is to become the THIRD largest Economic Power, it is not going to be attained either by Politicians or by the Government and Bureaucracy but by Business Entrepreneurs and Leaders of tomorrow who are groomed by Great Lakes and other schools of higher quality and values.
What must we excel at?
Increased acceptance globally also entails responsibility. Indian businesses are now leading the transnational mergers and acquisitions BUT still managers with global perspective are a scarcity. It's definitely by design that at Great lakes a global perspective and constant innovation surge in curriculum is sustained through multifaceted initiatives.
One such initiative; Dr. Deepak Chopra's lecture at Great Lakes delved into hitherto unchartered territory on the Indian management scene. In addition Dr. Chopra and I have designed a new management development course titled 'Soul Leadership' on the lines of a similar course conducted at the Kellogg. Essentially, efforts should be made to contain the social costs related to stupendous growth witnessed in India. Young managers achieve levels of prosperity in a couple of years what took their parents couple of decades, So they look for larger meaning of life and courses like these will help round out business ready managers for longer hauls.
Thus Democracy, Development and Decency can concurrently co-exist with confidence and compassion in India and grow.
Can we continue to improve and create value?
Reducing cost is vital, but creating value is critical. A key roadblock to any nation's growth and its unfolding prosperity is the paucity of high grade management talent. Of course, for a country which saw its first university, Nalanda, much earlier than the 5th century A.D, with scholars including ones from China, Japan, Korea and which was frequented by Lord Buddha preaching Dharma, such foresight is expected. Indian Institutes of Management (IIMs) were setup some 50 years ago. Over the years, many other business schools have come up with an amazing array of 6000 business schools now dotting the Indian landscape, but Rule of 3 may prevail here as well with a few quality Business Schools with World Class Excellence fully differentiated.
So, India's long term model for growth is sustainable but will depend on the availability of resources and suitably trained managers to transform them into output. With Business Programs like Great Lakes, emphasizing a Business Model of "Business Readiness" with “Money Value of Time” and "World Class Quality at an Affordable Cost as a Value proposition”, and “Ethically sound Execution of strategy with a clear Radar Screen that depicts the
Value Migration”, achieving exponential growth in a sustainable way becomes feasible.
How do we look to shareholders?
I have always said that at Great Lakes, students are the primary share-holders. The amazing pace of placements for second batch validated the effort of entire student placement committee, the results of an effort spanning one full year. I am confident that this year we'll comfortably surpass the first batch average salary/CTC of 6.5 lakhs to over 7.5 lakhs.
In his lecture at Great Lakes on valuation, Prof. Aswath Damodran talked about the slip
between cup and the lip when valuations become too complex and contrived. 1992 July, was watershed for Indian equity market, with the successful Demise of "Controller of Capital Goods", the valuation process evolved beyond the bureaucratic wrangling. Aswath Damodaran and other players of the capital Market endorsed and determined the
valuation for modern Indian corporations, We are now in sync and in step with the world Capital Market and Booming.
How do we innovate and learn?
While best job offers came from Indian IT industry, microcosm of global Indian businesses and an exemplar for an industry defying the typical inside out MNC growth, the real challenge now is to offset the continuous wage inflation with increased innovation.
So, when students get a chance to meet another key shareholder in Great Lakes; Mr. Ratan Tata, Chairman Great Lakes Business Advisory Council, later in April, one question on their minds will be how are organizations pushing innovation, encouraging voice of internal customer. Something similar to ideation day a month, mentioned by
Mr. Pashupathy, Director International Programs Google, during his lecture at Great Lakes. Let us also understand why, family empires like Tata & Sons seek and recognize more value adding professionals outside of the Family to ensure the Stakeholder Values. To me such town-hall meetings with global corporate legends, of which we had no dearth at Great Lakes, in addition to world renowned faculty, help invigorate the much needed entrepreneurial talent.
Future
My message to my beloved Great Lakers, the third batch, on Apr'15, the day they get their wings will be: Daring ideas are like chessmen moved forward; they may be beaten but they may start a winning Game. It is the Finish Line that Counts. The World is out there for you to conquer and succeed.
Excellence Inspires and is Infectious. Excel in Everything with Energy, Enthusiasm and
Excellence. Go get them, TIGERS, and the "World Is Not Flat", So Climb to the Peak. Yes, You Learn to Earn, But you Earn not to Live but to Give. Give your heart, soul and mind to your company, colleagues and the country.
Jai Hind, Jai Great Lakes; God Bless You.
How do customers see us?
At Great Lakes, excellent start to the placement season, 80 offers trickling in the first two days of placement cycle itself, has set the pace for another eventful year; the admissions for next batch are in full swing.
On a wider perspective, India continues on a dream run of 7-8% growth. It has never been a one dimensional nation and continues to challenge its interpreters. State heads from developed nations are making rounds unaffected by Third World myopia.
But not without an effort, India has been a frontrunner in forging relations. Even in the tentative moments of freedom, when secularism and socialism defined the nationalist ideal, leaders like Nehru had the prescience to foresee the possibilities of liberalization in the post-Stalin Soviet Union and who with Tito and Nasser was one of the chief architects of the nonaligned movement. Russian alliance got a further boost with Mr. Gorbachev transforming the former Soviet Union to the current group of Russian nations. Global relations seem to have come full circle and India's intent in the past one decade seem to have borne fruits with President Bush approving the nuclear deal, helping meet one of the key infrastructure challenges of an energy starved nation. The successful transformation of the US-INDIA relationship will have a decisive and positive influence on the future International System, such that India will benefit by leaps and bounds.
If India is to become the THIRD largest Economic Power, it is not going to be attained either by Politicians or by the Government and Bureaucracy but by Business Entrepreneurs and Leaders of tomorrow who are groomed by Great Lakes and other schools of higher quality and values.
What must we excel at?
Increased acceptance globally also entails responsibility. Indian businesses are now leading the transnational mergers and acquisitions BUT still managers with global perspective are a scarcity. It's definitely by design that at Great lakes a global perspective and constant innovation surge in curriculum is sustained through multifaceted initiatives.
One such initiative; Dr. Deepak Chopra's lecture at Great Lakes delved into hitherto unchartered territory on the Indian management scene. In addition Dr. Chopra and I have designed a new management development course titled 'Soul Leadership' on the lines of a similar course conducted at the Kellogg. Essentially, efforts should be made to contain the social costs related to stupendous growth witnessed in India. Young managers achieve levels of prosperity in a couple of years what took their parents couple of decades, So they look for larger meaning of life and courses like these will help round out business ready managers for longer hauls.
Thus Democracy, Development and Decency can concurrently co-exist with confidence and compassion in India and grow.
Can we continue to improve and create value?
Reducing cost is vital, but creating value is critical. A key roadblock to any nation's growth and its unfolding prosperity is the paucity of high grade management talent. Of course, for a country which saw its first university, Nalanda, much earlier than the 5th century A.D, with scholars including ones from China, Japan, Korea and which was frequented by Lord Buddha preaching Dharma, such foresight is expected. Indian Institutes of Management (IIMs) were setup some 50 years ago. Over the years, many other business schools have come up with an amazing array of 6000 business schools now dotting the Indian landscape, but Rule of 3 may prevail here as well with a few quality Business Schools with World Class Excellence fully differentiated.
So, India's long term model for growth is sustainable but will depend on the availability of resources and suitably trained managers to transform them into output. With Business Programs like Great Lakes, emphasizing a Business Model of "Business Readiness" with “Money Value of Time” and "World Class Quality at an Affordable Cost as a Value proposition”, and “Ethically sound Execution of strategy with a clear Radar Screen that depicts the
Value Migration”, achieving exponential growth in a sustainable way becomes feasible.
How do we look to shareholders?
I have always said that at Great Lakes, students are the primary share-holders. The amazing pace of placements for second batch validated the effort of entire student placement committee, the results of an effort spanning one full year. I am confident that this year we'll comfortably surpass the first batch average salary/CTC of 6.5 lakhs to over 7.5 lakhs.
In his lecture at Great Lakes on valuation, Prof. Aswath Damodran talked about the slip
between cup and the lip when valuations become too complex and contrived. 1992 July, was watershed for Indian equity market, with the successful Demise of "Controller of Capital Goods", the valuation process evolved beyond the bureaucratic wrangling. Aswath Damodaran and other players of the capital Market endorsed and determined the
valuation for modern Indian corporations, We are now in sync and in step with the world Capital Market and Booming.
How do we innovate and learn?
While best job offers came from Indian IT industry, microcosm of global Indian businesses and an exemplar for an industry defying the typical inside out MNC growth, the real challenge now is to offset the continuous wage inflation with increased innovation.
So, when students get a chance to meet another key shareholder in Great Lakes; Mr. Ratan Tata, Chairman Great Lakes Business Advisory Council, later in April, one question on their minds will be how are organizations pushing innovation, encouraging voice of internal customer. Something similar to ideation day a month, mentioned by
Mr. Pashupathy, Director International Programs Google, during his lecture at Great Lakes. Let us also understand why, family empires like Tata & Sons seek and recognize more value adding professionals outside of the Family to ensure the Stakeholder Values. To me such town-hall meetings with global corporate legends, of which we had no dearth at Great Lakes, in addition to world renowned faculty, help invigorate the much needed entrepreneurial talent.
Future
My message to my beloved Great Lakers, the third batch, on Apr'15, the day they get their wings will be: Daring ideas are like chessmen moved forward; they may be beaten but they may start a winning Game. It is the Finish Line that Counts. The World is out there for you to conquer and succeed.
Excellence Inspires and is Infectious. Excel in Everything with Energy, Enthusiasm and
Excellence. Go get them, TIGERS, and the "World Is Not Flat", So Climb to the Peak. Yes, You Learn to Earn, But you Earn not to Live but to Give. Give your heart, soul and mind to your company, colleagues and the country.
Jai Hind, Jai Great Lakes; God Bless You.
posted by GLakers | 11:45 AM
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