Day three of NICOM started with Mr. Hasmukh Patel (IPS) addressing the students on the topic of change management. He spoke about his experience in Bhavnagar where his first mission was to create respect for law through strict and impartial enforcement of law and responsive and accountable police administration. Sir spoke about how he started with implementing small but important steps such as instilling a sense of security, involving people in their own security etc. He also elaborated on their strategies such as behavioural change strategy and motivation strategy.
The second speaker of the day was Ms. Komal Shah from E-Spark, Viridian Ventures who spoke about accelerating entrepreneurs. Ms. Shah talked about a host of topics such as valuation versus value creation, differentiation versus me-too products, red ocean versus blue ocean and desperation versus creativity. She explained the concept of a red ocean, an intensely competitive market where a customers is pulled in many different direction by numerous companies/brands. In such a scenario, a start-up should ideally attempt to create a small niche out of the red ocean; create their own blue ocean where they are the market leaders.
The chief guest for the valedictorian session, Professor Ajit Prasad, Director, IIM-Lucknow, conducted the session on The Crisis in Global Strategy. He started the session by emphasizing on how the Indians are too obsessed with quantity nowadays, as opposed to quality. The difference between strategy and operations efficiency was discussed. Prof. Prasad mentioned that the managerial obsession with growth is hazardous to strategy and how positioning is as important a part as strategizing is. The guest of honour Mr. Sesadri Rajaram, Managing Director, Erhardt + Leimer then took over the stage to discuss about globalization and operational efficiency. He said that successful strategy goes hand in hand with sustainability. Compliance with physical and social environment is dire, and contribution from our side to the community should take place.
The Best Paper Awards were distributed by Prof. Nikunj Patel. The second prize went to Professors Sweety Shah, Amola Bhatt and Shahir Bhatt and the first prize went to Professors Ritesh Patel and Mitesh Patel for their contributions to the field of management.