‘Effective management critical in times of crisis’

K T Rama Rao, Minister for IT & Industries, Telangana, said effective management was critical in times of crisis, similar to what the world has been facing for close to a year due to the Covid pandemic.

“We need to strike a balance between what worked before and what needs to happen to succeed in the next normal,” Rao said in his message to the Regional Management Conclave, a flagship event of the All India Management Association (AIMA).

Despite posing business continuity challenges, the Covid-19 pandemic has also created a new wave of opportunities for business to alter the way they accelerate transformation. It has now become essential for business leaders and management executives to re-evaluate and re-orient their business strategies as they plan for the uncertain times ahead, Rao said.

The event was jointly organised on the virtual platform with the Hyderabad Management Association on the theme AIMA – Transformation for Continuity chosen in these days of disruption due to the pandemic.

HMA President Sanjay Kapoor said people have to look at opportunities in times of adversity. He said the first Industry Readiness program of HMA was a grand success with the students getting placements in Fortune 500 companies.

He requested the government for land to start a Centre for Management Excellence.

Harsh Pati Singhania, President AIMA, Director, JK Organization & Vice-Chairman & Managing Director JK Paper Limited, highlighted the importance of transforming mindsets and working styles through futuristic thinking.

“We have to have leapfrog strategies to transform our strategies for continuity,” he said.

D Shivakumar, Group Executive President, Aditya Birla Management Corporation Private Ltd & Past President AIMA, said that marketing is in a crisis only because marketers are economical about Truth.

He said when all the other verticals are improving, we should have a look at why only the market segment was not improving. The analysis given was that marketers take the customer for granted and do not try to show the complete picture. He asked all marketing personnel to tighten their belts and give complete details of products to build the customer's trust.