The Hindu Business Line : `High-level economic growth an opportunity'

DR K.R.S. Murthy, Chairman of the Board for Information Technology Education Standards, Government of Karnataka, has said that the sustained and high-level of growth in the Indian economy is an opportunity, which is more benevolent for careful experimentation and learning than the stagnant or slow-growth environments that organisations in developed countries face.

Delivering the Founders' Day lecture at Karnataka Bank Ltd here on Saturday, he said, "This is an opportunity for Indian organisations to lead in the next wave of technology and management interface."

Treating technology as independent of the management of the firm would be to under utilise its power and to neglect the intangible part. In an era of technological change organisations should build a culture of strategic experimentation with alternative models of business, he said. While India has emphasised both technology and management, there has been a tendency to see each in isolation. "We have not developed a deep understanding of how the two can interact and produce accelerated growth. Therefore, Indian firms are in the early stages of the experience on how to successfully innovate at the interface of technology and management," he said.

Stating that investments in research and development, on building skills of employees, and on brand and image building create considerable intangible assets, Dr Murthy said the incomes from these investments are realised over a longer time. However, they are subject to risk and uncertainties in the market. Intangible assets have deep roots and reach into the perceptions and minds of customers, lenders, employees, and other stakeholders. Understanding and nurturing these intangible assets have become a management challenge today, he added.

Mr Anantakrishna, Chairman and Chief Executive Officer of the bank, who presided over the function, said that Indian banking has the capacity to face any kind of onslaught. However, he said, the experts differ on this topic.

Though Karnataka Bank may be small in size compared to other banks it has a role to play in the industry. Stating that Karnataka Bank has become a force to reckon with in the banking industry, Mr Anantakrishna said, "We are in the process of strengthening of strengths and weakening our weaknesses."

Mr Jayarama Bhat, Chief General Manager of the bank, welcomed the gathering.