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We often raise the question whether Indian business schools are of international quality.
The answer may be complicated but one thing is sure — students who attend Indian B-Schools are definitely of international quality.
This was highlighted once again with Joel Modestus, a first-year student of IIM Kozhikode, winning the prestigious Harvard Business Review/McKinsey M-Prize for Management innovation.
Beyond academics
“Organisations are looking for innovation beyond academic studies to add value to their existing practices,” said Debashis Chatterjee, Director of IIM Kozhikode, in a press statement.
He is pleased at his student’s achievement. “Such ever-evolving innovative tools for management are the need of the hour to cope with the demands of a constantly transforming global environment.”
The competition was held by the Harvard Business School along with McKinsey and in collaboration with Management Innovation Exchange. The challenge set under the competition for this year was ‘How to have leaders everywhere in an organisation’.
The format of the competition required participants to submit either a ‘story’ or a ‘hack’. Typically, a story is the one that stems from the real-life experience of implementing a solution related to a challenge in your company, whereas a hack is an entirely original and new idea that has not been subjected to testing.
Defining leadership
Joel submitted a hack titled “The 4-Hat Hack: How a micro-change in your employee portal can yield mega results in leadership”.
His first-round entry identified the four roles leaders would like to play in an organisation — the four hats they would like to wear. They were segregated as Visionary, Collaborator; Mentor, and Innovator.
His solution spoke about acknowledging employees in an organisation on the basis of these hats, which would act as their virtual badges.
The results of the first round were declared on July 31 and Joel was among the 18 finalists from around the world. For the second round, he further modified his entry.
The results were declared on September 28 and Joel was one of the nine winners from around the world and among only two from India.
He has also received an invitation to the MIX Mashup Event on Management Innovation, to be held in New York next year.
The other Indian entry to win the M-Prize is that of Lalgudi Ramanathan Natarajan. He submitted the story “Titan: Where leaders can be found everywhere”.
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