The Hindu Business Line : ‘Develop new management styles’

Kochi, March 26 Rapid technological advances and globalisation have sprouted new economic opportunities for India. Management experts attending Praxis 08 at the MES College of Engineering at Kuttipuram said that to exploit these new-found opportunities, Indian firms must develop new management styles and practices along with innovative and novel strategies.

The event was organised by the Department of Management Science of the college.

The theme of Praxis 08 was ‘New Horizons in Business and Management’ and covered topics such as emerging issues in international business, management innovations and technology, challenges before global marketers, entrepreneurial development, and global trends and perspectives.

Inaugurating the function, Mr K.P. Balakrishnan, former Indian Ambassador, observed that the biggest obstacle faced by India’s globalisation effort was the cultural block. Indian businesses which are considered monopolistic and family run continue to follow the traditional management practices. They have to present a new look to the world by developing their own management style.

Retail revolution

Delivering the keynote address, Prof. Anandakkutan Unnithan of IIM Kozhikode cited the case of the retail revolution and the shift from the unorganised to organised trade. To make the retail industry more efficient, he said that it was important to protect the interest of the small players.

Director of MES College of Engineering, Dr K.P. Mohammed; Principal Dr V.H. Abdul Salam; and Head of the Department of Management Science, Prof. Saji Kuriakose, were present on the occasion.

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