The Hindu Business Line : ‘Cos need to redefine biz model to retain competitiveness’

New Delhi, Nov. 23 India cannot remain insulated from the pinch of the global slowdown and companies must formulate a blue print for pro-active collaboration between the industry and the government for transforming the economy, said experts.

Speaking at the ‘Global Business Environment: Strategic option for India’ organised by Lal Bahadur Shastri Institute of Management, New Delhi (LBSIM), Mr Anil Shastri, former Union Minister and Chairman Board of LBSIM said, though the Indian economy has not suffered as compared with many other global markets, Indian investors need to be cautious and exceedingly competitive in the current economic scenario.

He advised the industry to economise their operations, reduce benefits, increase job profile and create demand to turn the wheels of economy for sustained economic growth.

Mr R Sudhakar Rao, Executive Director HPCL, emphasised on creating and achieving the vision that a company has decided for itself besides focusing on innovation in various areas. In his valedictory address, Prof Pritam Singh of Management Development Institute, Gurgaon, exhorted younger managers to focus on leadership. Observing that the hierarchies are crumbling down with each passing generation, he said manager of tomorrow must focus on leadership and innovation. “Seeking opportunity in problem is the hallmark of a leader,” he said.

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