The Hindu Business Line : Companies told to keep pace with changing scenario

CORE competencies of a company or an organisation should not become core rigidity. Companies and organisations should always remember that they need to continuously keep pace with the fast-changing scenario and evolve strategies to transform the organisation keeping in view the emerging challenges.

Delivering the keynote address at the inaugural of the two-day seminar on `Competing globally: Lessons from Indian public sector' here today, Prof B.R. Virmani, Chairman of Centre for Organisation Research & Development in Management (CORD-M), said realising the necessity and willingness to change was very important. A long-term vision too is needed. However, we should be in a position to revise our vision as the situation demands, he felt.

Relating the change process effected in the oil PSUs in the country during the last eight years, Prof Virmani, who authored the book `Managing People in Organisations: The Challenges of Change', said both the managements and unions sat together and discussed the challenges.

"Many of the innovative scheme like `Pure for Sure' of BPCL originated during such meetings," he said.

There's an urgent need to focus on training and expanding the scope of research and development. "Developing a customer orientation, forging strategic alliances, evolving a code of ethics," he said. The seminar is being organised by Gitam Institute of Foreign Trade (GIFT).

Article E-Mail :: Comment :: Syndication

Stories in this Section
Escorts puts off annual meet

Hind Sanitaryware shelves jt venture plans with German co

Siemens to supply gas turbines to Konaseema

KEC International gets new orders worth Rs 115 cr

Parryware to set up electronic flushing urinals in schools

Asahi India Glass clarifies

Shasun's pref allotment gets shareholders' nod

BILT to raise $75 m through GDR, FCCBs

On building lasting institutions

Marc Faber bullish on Asia — But bearish on US market

ICI to complete revamp exercise by end-fiscal