The second day of the Nirma International Conference on Management (NICOM – 2014) witnessed a plenary session presided over by eminent personalities. A plenary session was scheduled in the morning at the institute while further sessions will be held at Mahatma Mandir as part of the National Education Summit being organised by the Government of Gujarat which will cover Innovative Management Education. The seminar at Gandhingar will be addressed by Shri Bhupendrasinh Chudasama, Mr Vinod Rai, Dr Jagdish Sheth, Dr Frank Linnehan and Dr Joseph Shevel.
The plenary session was addressed by Mr Aseem Dhru – MD and CEO, HDFC Securities Ltd on the topic of Capital markets. He started off by introducing the concept of ‘VUCA’, the state of the world today characterized by Volatility, Uncertainty, Complexity and Ambiguity. This has led to ‘the law of unintended consequences’ coming at play; for instance, food inflation was not an issue before, but with increase in minimum support price, it is one of India’s concerns now. According to Mr. Dhru, ‘The world of planning is dead’; complications in predicting the future are occurring due to interlinked world markets. Technology has been a major factor in bringing about all this change and mobility, with social media enabling consumers to create information on the go. Command and control structures are weakening; leaders can’t rely on experience any longer. Companies placing the right bets and correctly capturing the VUCA environment have succeeded. Change has transitioned from being incremental to being disruptive. Indian and Chinese consumers are moving from price consciousness towards value consciousness. Mr. Dhru concluded by giving an important message to the students: “Read the tea leaves right. Be an entrepreneur, your career is your business”.
Earlier in the day, various track sessions were organized where researchers and students from across the country submitted research papers on various topics. Papers were submitted on topics such as ‘Crowd-funding for new ventures’, ‘Economic Growth in Agriculture in Akola district of Maharashtra’ , ‘Financial Inclusion – A boon for the Indian economy’ , ‘Changes in Debit card policy’ , Working Capital Management of BSE Listed firms’, ‘Macro-implementation of the Food Security Bill’( which found that there is a direct relationship between leakage in the system and the reach of the program and predicts that there will be a 18% reduction in malnutrition) and ‘ Food Security Bill – A challenge for the Indian economy’.
The session held at Mahatma Mandir as part of the National Education Summit will be covered in a separate post.
(Content Courtesy: Media Committee)