The Hindu Business Line : Mr P. Raju Iyer, Chairman, Inter-Institution Coordination Committee, Southern India Regional Council of the ICWAI;Adhiparasakthi Engineering College, Melmaruvathur

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Mr P. Raju Iyer, Chairman, Inter-Institution Coordination Committee, Southern India Regional Council of the ICWAI;Adhiparasakthi Engineering College, Melmaruvathur

Mr P. Raju Iyer, Chairman of the Inter-Institution Coordination Committee of the Southern India Regional Council of the Institute of Cost and Works Accountants of India, addressing the students of the Adhiparasakthi Engineering College, Melmaruvathur.

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Chennai, Nov. 11 “If you want to live a happy life, tie it to a goal. Not to people or things,” said Mr P. Raju Iyer, Chairman of the Inter-Institution Coordination Committee of the Southern India Regional Council of the Institute of Cost and Works Accountants of India (ICWAI).

He was addressing the students of the Adhiparasakthi Engineering College, Melmaruvathur, on the occasion of the inauguration of the Business Line Club at the college.

Mr Iyer said qualifications such as the MBA, Cost Management Accountancy, Chartered Accountancy, Company Secretaries and other post-graduations only served as passports to employment; a successful career was built on a “high level of integrity and sincerity, technical knowledge and skill and the objective of deriving benefits for the organisation and society.”

The current financial and economic crisis were the result of the greed and unethical practices of people in responsible positions.

He highlighted the importance of setting SMART (Situational, Motivational, Achievable, Result Oriented and Timely/Trustworthy) goals so that managers could become business partners, adding value to the business as perceived by the management.

He said as a management professional one has to update oneself by reading the financial newspapers. He added that among the industry expectations of management professionals were entrepreneurship (initiative/leadership/ team management/application of right kind of skill), financial and market analysis, performance evaluation (compressing cycle time) and above all good communications.

India was a highly globalised and economically powerful country at the beginning of the 18th century; the 18th and 19th centuries belonged to Europe; the 20th century belonged to the US and the 21st century belongs to Asia.

Mr Iyer also highlighted with examples the significance of continuous performance as against one-time or ‘on & off’ performances. ‘Image Building,’ he said, was essential for successful professionals.

He added that strong performances were enhanced by organisational values, functional competencies and behavioural competencies. Organisational values needed innovation, continuous improvement, entrepreneurship, ethical behaviour and respect for the individual, while functional competencies called for basic education, on-the-job training, technical mastery and professional expertise. Behavioural competencies required core initiative, customer orientation, strategic thinking, teamwork, communication and creativity and leadership.

He pointed out that there were opportunities in the ‘consultancy’ space as SMEs supplying to large manufacturing units required professional support at affordable price.

The management professional should fill this gap and provide the required service which would contribute to the growth of industry, the nation and the global economy. The investment climate in India was improving and this would call for the skills of management professionals with technical knowledge, multi-disciplinary skills, innovation and creativity and competitive instincts.

“Be an investment and not expense” he said, adding that success, reputation, positive image and hence money would follow inevitably.

Dr. R. Senapathi, Director (Management Studies) in his address highlighted the activities of the college and stressed the need for management students to update and upgrade themselves by reading news articles.

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