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FROM ISB Admissions Blog: Crisis = Opportunity
The pandemic is a worldwide crisis of a magnitude that is scary, to say the least. Yet, it has brought opportunities with it. Look closely, the glass is always half full.



In his first book “Unlimited Power”, Tony Robbins quotes former US President John F. Kennedy, “When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” This thought has stayed with me ever since I read it in 1992.  My husband Krishnan recently used it while conducting a workshop for the employees of a hotel chain. Very often, when a crisis hits us, we lose confidence and immediately start worrying about the future. This quote helps us to refocus and look at the hidden opportunity that every crisis brings with it.

Our resilience is what makes us (humans) survive and flourish. If history teaches us something, it is that every problem brings a new solution with it. Patience, determination & hard work pays off sooner than later. During WWII, atomic bombs were dropped on Hiroshima and Nagasaki, bringing the entire country to its knees. It was a crisis for Japan. They had been defeated and the economy was in tatters. Within two years, Japan re-energized its economy with the Priority Production System, where recovery of a few key industries would have a positive spillover effect on the entire economy. They did bounce back. Within 20 years Japan was the second-largest economy in the world.

The current pandemic is a worldwide crisis of a magnitude that is scary, to say the least. Challenging it may be, yet the predicament has brought opportunities with it. In India, we went from being a net importer of PPE kits to becoming the world’s second-largest producer within a span of months. Similarly, the production of masks, inexpensive testing kits, sanitisers, ventilators, etc ramped up significantly. Every major sector is on the way to a speedy recovery. If the stock market is the indicator of how the Indian Markets are performing, there has never been a better time.

In our personal lives, the biggest crisis we faced was our bankruptcy in 1996. The times were hard, but little do we know, the
opportunity of setting up ShikshaDaan was hidden in that crisis. Several known and unknown people came forward & helped us get back on our feet. We promised ourselves back then, we would give back to the community in some way once we were financially stable again.  ShikshaDaan was set up in 2012 has been actively working since 2015. In the last 6 years, we have sponsored 11,500+ students for their higher education & disbursed scholarships worth Rs. 12.5 crores.

The pandemic has thrown up a whole host of opportunities. One such interesting opportunity has become a full-fledged business. As work from home became the norm forcibly and much sooner than people expected, it became a challenge to identify good candidates using their CVs. The Netherlands-based HR tech startup Test Gorilla came up with the idea of hiring people using skill-based tests, rather than recruiting from CVs. The idea has paid off as the startup has 1500 clients in a short period of nine months. They have Sony, PepsiCo, Bain & Co amongst their clients !!

The above examples are just reiterations of the fact that every crisis brings the gift of an opportunity. All that we need to do is refocus ourselves and look for that opportunity. Look closely, the glass is half full!

 -Bindu Krishnan, Co-Founder, ShikshaDaan Foundation, PGPMAX 2013
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ISB MBA Admissions & Related Blogs 20 Jul 2021, 06:00
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FROM ISB PGP Admissions Director Blog: Crisis = Opportunity
The pandemic is a worldwide crisis of a magnitude that is scary, to say the least. Yet, it has brought opportunities with it. Look closely, the glass is always half full.

In his first book “Unlimited Power”, Tony Robbins quotes former US President John F. Kennedy, “When written in Chinese, the word ‘crisis’ is composed of two characters. One represents danger and the other represents opportunity.” This thought has stayed with me ever since I read it in 1992.  My husband Krishnan recently used it while conducting a workshop for the employees of a hotel chain. Very often, when a crisis hits us, we lose confidence and immediately start worrying about the future. This quote helps us to refocus and look at the hidden opportunity that every crisis brings with it.

Our resilience is what makes us (humans) survive and flourish. If history teaches us something, it is that every problem brings a new solution with it. Patience, determination & hard work pays off sooner than later. During WWII, atomic bombs were dropped on Hiroshima and Nagasaki, bringing the entire country to its knees. It was a crisis for Japan. They had been defeated and the economy was in tatters. Within two years, Japan re-energised its economy with the Priority Production System, where recovery of a few key industries would have a positive spillover effect on the entire economy. They did bounce back. Within 20 years Japan was the second-largest economy in the world.

The current pandemic is a worldwide crisis of a magnitude that is scary, to say the least. Challenging it may be, yet the predicament has brought opportunities with it. In India, we went from being a net importer of PPE kits to becoming the world’s second-largest producer within a span of months. Similarly, the production of masks, inexpensive testing kits, sanitisers, ventilators, etc ramped up significantly. Every major sector is on the way to a speedy recovery. If the stock market is the indicator of how the Indian Markets are performing, there has never been a better time.

In our personal lives, the biggest crisis we faced was our bankruptcy in 1996. The times were hard, but little do we know, the
opportunity of setting up ShikshaDaan was hidden in that crisis. Several known and unknown people came forward & helped us get back on our feet. We promised ourselves back then, we would give back to the community in some way once we were financially stable again.  ShikshaDaan was set up in 2012 has been actively working since 2015. In the last 6 years, we have sponsored 11,500+ students for their higher education & disbursed scholarships worth Rs. 12.5 crores.

The pandemic has thrown up a whole host of opportunities. One such interesting opportunity has become a full-fledged business. As work from home became the norm forcibly and much sooner than people expected, it became a challenge to identify good candidates using their CVs. The Netherlands-based HR tech startup Test Gorilla came up with the idea of hiring people using skill-based tests, rather than recruiting from CVs. The idea has paid off as the startup has 1500 clients in a short period of nine months. They have Sony, PepsiCo, Bain & Co amongst their clients !!

The above examples are just reiterations of the fact that every crisis brings the gift of an opportunity. All that we need to do is refocus ourselves and look for that opportunity. Look closely, the glass is half full!

 -Bindu Krishnan, Co-Founder, ShikshaDaan Foundation, PGPMAX 2013
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ISB MBA Admissions & Related Blogs 21 Jul 2021, 05:00
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FROM ISB Admissions Blog: Our Quest for a Circular Economy
Ankit Anand (Student of AMPPP Class 2021)

Deputy general manager – strategic initiatives and regulatory policy, Reliance Jio Infocomm Limited

 

In most countries, the focus of major economic actors has generally been to increase the revenues and the profits, that would catalyse their long-term economic growth. The questions around efficiency have mostly been dealt with by lowering the cost of production singularly, resulting in a take-make-waste model of production. However, this model of economic growth seems to have resulted in serious issues around sustainability – both on the environmental and the economic front.

The general discourse revolves around the fact that environmental sustainability and inclusive economic growth are public goods that markets would not be able to provide for. On the contrary, Dr Ronald Coase has suitably demonstrated that even in the presence of externalities, a market may be able to draw out efficient results if the transaction costs are low and property rights are institutionalised. It is this line of thought that seems to have been at work in India, to a certain extent. Our informal circular economy has been in the working since time immemorial. We all have fond memories of our familiar scrap dealers who would come to our homes every week. They would not only take away our ‘waste’ but would also reward us with monetary compensation. These scrap dealers had their hierarchy of operations that was effective in harvesting all that could be harvested and further selling it off to the highest bidder, thereby bringing in economic gains to every member in this circular supply chain. Thus, the principles of the regenerative and restorative economy have been ingrained in Indian households and businesses by design.

The past few years have also witnessed the adoption of some of these ‘household’ practices by local government bodies. Indore administration has led by example and has demonstrated that clear rules backed by administrative determination could yield sustainable practices that result in inclusive economic gains. They have been able to build and maintain an infrastructure for proper segregation of household waste and further processing in centralised units. They have also earned monetarily by selling the carbon credits that were generated using compost and bio-methanation plants, thereby helping them sustain the operations.

Amidst the discussion on waste management and circular economy, it would be unfair to not address the ticking time bomb – that of e-waste. Until a few years back, the waste management rules would mostly be built around solid waste management for households on one hand and industrial waste management on the other. However, with the advent of technology and the reduction in prices of electronic items, e-waste has become an equivalent problem in line with plastics, if not more.  As per the latest estimates presented in UN’s The Global E-waste Monitor 2020, India ranked 3rd in the world in e-waste generation, after China and the USA. Although we have had E-Waste Management Rules since 2011, we have not been able to build enough capacity to deal with this problem. Ironically, India could have gained economically and strategically if we could harness the important component of rare-earth metals and circle them back into our economy. By some estimates, we could leverage this e-waste into economic gains of more than USD 3 Billion and also create more than three lakh jobs. For this to happen, we must not ape the policies of other countries, but use the presence of our on-ground working ‘informal’ economy to solve our problems. It has been quoted that more than 95% of our e-waste is processed by the informal and unorganised sectors. Thus, there is a need to further strengthen the process and institutionalise capacity-building mechanisms. This does not mean that we continue with toxic working conditions for achieving the low cost of productivity, but the focus should be on leveraging the existing infrastructure and improving it through incentivisation and recognition. As per the Global E-Waste Monitor estimates, India still ranks low on per-capita e-waste generation which is around 2.4 kg/capita compared to a global average of 7.3 kg/capita. With advances in technology, higher commercialisation through IoT and Industry 4.0, and increasing trends around wearables, the per capita quantum is bound to increase sooner or later. We must, therefore, use this lead time in building sustainable mechanisms that could withstand the pressures of the future.

We, in India, have had our bright spots – though small and disaggregated. What is needed is to institutionalise the processes by adopting practical SoPs that could leverage the inherent strengths of the informal economy along with utilising the financial and technological prowess of large businesses. This unique combination of cross-collaboration between the formal and the informal economy should be institutionalised through stewardship of the governance mechanisms. The role of the government is important in helping design policies that could support this delicate balance of cross-industry cooperation. As such, these policies must be designed and implemented (or not) only after thorough consultations with all the stakeholders. The policymakers will also have to be the stewards in maintaining discipline and rewarding good behaviour through the matrix of incentivisation and disincentives. Additionally, the policy framework should also aim to support R&D initiatives that could yield innovative and environmentally friendly solutions to dispose and recycle the waste being generated. Such a supportive framework would help the policymakers in achieving their social goals around environmental sustainability and inclusive economic growth that every citizen of the country deserves.

Over the past few months, policymakers have taken extensive action to accelerate the circular economy, on at least four different fronts. One of them being the Vehicle Scrappage Policy that was announced by the Union Government earlier this year. This was a long-demanded policy action for a variety of reasons. The recycling of vehicles is expected to not only decongest the roads, but even the parking spaces which are in paucity. Additionally, it is expected to lead to improvement in air quality, create alternate avenues for businesses and lead to economic value realisation as well. On the other hand, the Central Pollution Control Board released the Standard Operating Procedures for Registration of Producers, Importers & Brand-Owners (PIBOs) Under Plastic Waste Management Rules (PWM), 2016. The rules now allow multiple options for waste collection, recycling and disposal under the Extended Producer Responsibility as a part of PWM rules. Although the procedure calls for multiple levels of registrations and has already evoked a sharp response from the industry, it also aims to use blockchain-based applications to ensure traceability, and most importantly, accountability for various stakeholders. Thirdly, we have been seeing the government increasing its focus on the ESG reporting norms through the Business Responsibility and Sustainability Reporting format, released by SEBI earlier this month. Although it is voluntary for the current fiscal, the same code would become mandatory for the top 1000 companies by the next year. Fourth, the Ministry of Electronics & Information Technology published a draft policy paper titled “Circular Economy in Electronics and Electrical Sector” in the last week of May. The paper proposes a comprehensive roadmap that focuses on policy actions along the entire lifecycle of electrical and electronic equipment, and one that will be implemented and monitored through the whole-of-government approach by employing key ministries, think tanks and private organisations from the concerned sectors. Overall, the urgency on the part of the government is welcome, but these steps need to translate into meaningful actions to be able to solve this gigantic problem.

Ultimately, building sustainable solutions would require patience in policy and the pursual of a collaborative approach over a period of time. Knee jerk reactions by any member of this complex adaptive system would be counter-productive and lead to inconclusive and wrong assumptions. We would need to have a long-term vision, with clearly defined milestones at each step. Additionally, our frameworks must be flexible enough to allow us the power to moderate and fine-tune our strategies as we move along. The problem of environmental sustainability is a wicked one, and the solutions would not be straightforward, but this collaborative approach could be a good starting point that might make it easy for the arduous journey that lies ahead of us.

DISCLAIMER : Any comments, speeches, articles, blogs, podcasts, videos/vlogs, opposite the editorial page/opinions andeditorials page (OP-ED), interview response etc. made by individuals should be accompanied by a clear disclaimer from the ones given below.

“The views expressed in this article are personal. Ankit Anand is a student of the Advanced Management Programme in Public Policy at the Indian School of Business.”
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ISB MBA Admissions & Related Blogs 21 Jul 2021, 05:00
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FROM ISB PGP Admissions Director Blog: Our Quest for a Circular Economy
Ankit Anand (Student of AMPPP Class 2021)

Deputy general manager – strategic initiatives and regulatory policy, Reliance Jio Infocomm Limited

 

In most countries, the focus of major economic actors has generally been to increase the revenues and the profits, that would catalyse their long-term economic growth. The questions around efficiency have mostly been dealt with by lowering the cost of production singularly, resulting in a take-make-waste model of production. However, this model of economic growth seems to have resulted in serious issues around sustainability – both on the environmental and the economic front.

The general discourse revolves around the fact that environmental sustainability and inclusive economic growth are public goods that markets would not be able to provide for. On the contrary, Dr Ronald Coase has suitably demonstrated that even in the presence of externalities, a market may be able to draw out efficient results if the transaction costs are low and property rights are institutionalised. It is this line of thought that seems to have been at work in India, to a certain extent. Our informal circular economy has been in the working since time immemorial. We all have fond memories of our familiar scrap dealers who would come to our homes every week. They would not only take away our ‘waste’ but would also reward us with monetary compensation. These scrap dealers had their hierarchy of operations that was effective in harvesting all that could be harvested and further selling it off to the highest bidder, thereby bringing in economic gains to every member in this circular supply chain. Thus, the principles of the regenerative and restorative economy have been ingrained in Indian households and businesses by design.

The past few years have also witnessed the adoption of some of these ‘household’ practices by local government bodies. Indore administration has led by example and has demonstrated that clear rules backed by administrative determination could yield sustainable practices that result in inclusive economic gains. They have been able to build and maintain an infrastructure for proper segregation of household waste and further processing in centralised units. They have also earned monetarily by selling the carbon credits that were generated using compost and bio-methanation plants, thereby helping them sustain the operations.

Amidst the discussion on waste management and circular economy, it would be unfair to not address the ticking time bomb – that of e-waste. Until a few years back, the waste management rules would mostly be built around solid waste management for households on one hand and industrial waste management on the other. However, with the advent of technology and the reduction in prices of electronic items, e-waste has become an equivalent problem in line with plastics, if not more.  As per the latest estimates presented in UN’s The Global E-waste Monitor 2020, India ranked 3rd in the world in e-waste generation, after China and the USA. Although we have had E-Waste Management Rules since 2011, we have not been able to build enough capacity to deal with this problem. Ironically, India could have gained economically and strategically if we could harness the important component of rare-earth metals and circle them back into our economy. By some estimates, we could leverage this e-waste into economic gains of more than USD 3 Billion and also create more than three lakh jobs. For this to happen, we must not ape the policies of other countries, but use the presence of our on-ground working ‘informal’ economy to solve our problems. It has been quoted that more than 95% of our e-waste is processed by the informal and unorganised sectors. Thus, there is a need to further strengthen the process and institutionalise capacity-building mechanisms. This does not mean that we continue with toxic working conditions for achieving the low cost of productivity, but the focus should be on leveraging the existing infrastructure and improving it through incentivisation and recognition. As per the Global E-Waste Monitor estimates, India still ranks low on per-capita e-waste generation which is around 2.4 kg/capita compared to a global average of 7.3 kg/capita. With advances in technology, higher commercialisation through IoT and Industry 4.0, and increasing trends around wearables, the per capita quantum is bound to increase sooner or later. We must, therefore, use this lead time in building sustainable mechanisms that could withstand the pressures of the future.

We, in India, have had our bright spots – though small and disaggregated. What is needed is to institutionalise the processes by adopting practical SoPs that could leverage the inherent strengths of the informal economy along with utilising the financial and technological prowess of large businesses. This unique combination of cross-collaboration between the formal and the informal economy should be institutionalised through stewardship of the governance mechanisms. The role of the government is important in helping design policies that could support this delicate balance of cross-industry cooperation. As such, these policies must be designed and implemented (or not) only after thorough consultations with all the stakeholders. The policymakers will also have to be the stewards in maintaining discipline and rewarding good behaviour through the matrix of incentivisation and disincentives. Additionally, the policy framework should also aim to support R&D initiatives that could yield innovative and environmentally friendly solutions to dispose and recycle the waste being generated. Such a supportive framework would help the policymakers in achieving their social goals around environmental sustainability and inclusive economic growth that every citizen of the country deserves.

Over the past few months, policymakers have taken extensive action to accelerate the circular economy, on at least four different fronts. One of them being the Vehicle Scrappage Policy that was announced by the Union Government earlier this year. This was a long-demanded policy action for a variety of reasons. The recycling of vehicles is expected to not only decongest the roads, but even the parking spaces which are in paucity. Additionally, it is expected to lead to improvement in air quality, create alternate avenues for businesses and lead to economic value realisation as well. On the other hand, the Central Pollution Control Board released the Standard Operating Procedures for Registration of Producers, Importers & Brand-Owners (PIBOs) Under Plastic Waste Management Rules (PWM), 2016. The rules now allow multiple options for waste collection, recycling and disposal under the Extended Producer Responsibility as a part of PWM rules. Although the procedure calls for multiple levels of registrations and has already evoked a sharp response from the industry, it also aims to use blockchain-based applications to ensure traceability, and most importantly, accountability for various stakeholders. Thirdly, we have been seeing the government increasing its focus on the ESG reporting norms through the Business Responsibility and Sustainability Reporting format, released by SEBI earlier this month. Although it is voluntary for the current fiscal, the same code would become mandatory for the top 1000 companies by the next year. Fourth, the Ministry of Electronics & Information Technology published a draft policy paper titled “Circular Economy in Electronics and Electrical Sector” in the last week of May. The paper proposes a comprehensive roadmap that focuses on policy actions along the entire lifecycle of electrical and electronic equipment, and one that will be implemented and monitored through the whole-of-government approach by employing key ministries, think tanks and private organisations from the concerned sectors. Overall, the urgency on the part of the government is welcome, but these steps need to translate into meaningful actions to be able to solve this gigantic problem.

Ultimately, building sustainable solutions would require patience in policy and the pursual of a collaborative approach over a period of time. Knee jerk reactions by any member of this complex adaptive system would be counter-productive and lead to inconclusive and wrong assumptions. We would need to have a long-term vision, with clearly defined milestones at each step. Additionally, our frameworks must be flexible enough to allow us the power to moderate and fine-tune our strategies as we move along. The problem of environmental sustainability is a wicked one, and the solutions would not be straightforward, but this collaborative approach could be a good starting point that might make it easy for the arduous journey that lies ahead of us.

DISCLAIMER : Any comments, speeches, articles, blogs, podcasts, videos/vlogs, opposite the editorial page/opinions andeditorials page (OP-ED), interview response etc. made by individuals should be accompanied by a clear disclaimer from the ones given below.

“The views expressed in this article are personal. Ankit Anand is a student of the Advanced Management Programme in Public Policy at the Indian School of Business.”
This Blog post was imported into the forum automatically. We hope you found it helpful. Please use the Kudos button if you did, or please PM/DM me if you found it disruptive and I will take care of it. -BB
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ISB MBA Admissions & Related Blogs 22 Jul 2021, 22:00
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FROM ISB Admissions Blog: Family Business Updates, July 23, 2021
Airtel and Intel announce collaboration to accelerate 5G in India – https://www.livemint.com/companies/news/airtel-and-intel-announce-collaboration-to-accelerate-5g-in-india-11626858800303.html

 Havells to focus majorly on rural markets, launch customized products – https://economictimes.indiatimes.com/industry/cons-products/electronics/havells-to-focus-majorly-on-rural-markets-launch-customized-products/articleshow/84611862.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Expect turnover from foods to touch Rs 10,000 crore: Marico’s Chairman Harsh Mariwala – https://www.financialexpress.com/industry/expect-turnover-from-foods-to-touch-rs-10000-crore/2294508/

Tata Steel arm signs MoU with Jindal Stainless for utilising chrome ore in Sukinda – https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/tata-steel-arm-signs-mou-with-jindal-stainless-for-utilising-chrome-ore-in-sukinda/articleshow/84572732.cms

 Godrej appliances forays into dishwater segment – https://www.thehindu.com/business/godrej-appliances-forays-into-dishwasher-segment/article35430244.ece

HCL Tech quarterly profit rises to Rs 3,214 cr on cloud, digital shift deals- https://www.business-standard.com/article/companies/hcl-tech-q1-net-up-9-9-to-rs-3-214-cr-on-cloud-digital-shift-deals-121071901219_1.html
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ISB MBA Admissions & Related Blogs 22 Jul 2021, 22:01
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FROM ISB PGP Admissions Director Blog: Family Business Updates, July 23, 2021
Airtel and Intel announce collaboration to accelerate 5G in India – https://www.livemint.com/companies/news/airtel-and-intel-announce-collaboration-to-accelerate-5g-in-india-11626858800303.html

 Havells to focus majorly on rural markets, launch customized products – https://economictimes.indiatimes.com/industry/cons-products/electronics/havells-to-focus-majorly-on-rural-markets-launch-customized-products/articleshow/84611862.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Expect turnover from foods to touch Rs 10,000 crore: Marico’s Chairman Harsh Mariwala – https://www.financialexpress.com/industry/expect-turnover-from-foods-to-touch-rs-10000-crore/2294508/

Tata Steel arm signs MoU with Jindal Stainless for utilising chrome ore in Sukinda – https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/tata-steel-arm-signs-mou-with-jindal-stainless-for-utilising-chrome-ore-in-sukinda/articleshow/84572732.cms

 Godrej appliances forays into dishwater segment – https://www.thehindu.com/business/godrej-appliances-forays-into-dishwasher-segment/article35430244.ece

HCL Tech quarterly profit rises to Rs 3,214 cr on cloud, digital shift deals- https://www.business-standard.com/article/companies/hcl-tech-q1-net-up-9-9-to-rs-3-214-cr-on-cloud-digital-shift-deals-121071901219_1.html
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ISB MBA Admissions & Related Blogs 28 Jul 2021, 23:00
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FROM ISB PGP Admissions Director Blog: New-generation tech driving healthcare in times of crisis
Healthcare and technology were intricately related since time immemorial. After all, what is the use of technology if it cannot help humans, especially now that the whole world is going through the Covid-19 pandemic?

 

There is no doubt that the pandemic has allowed patients and providers to embrace new-age technology as part of their routine healthcare. A Mckinsey consumer report in April 2020 in the US suggests an exponential increase in consumer telehealth preferences and a potential for USD 250 billion healthcare spend in the US to be virtualised.(1)

Not just the US, every other country in the world affected by the pandemic has seen an increase in using technological solutions in healthcare. Innovations in the biotechnology and pharmaceutical industry, contact tracing technology, digitalised supply chain management, blockchain-enabled platforms for data analytics and predictive modelling, and artificial intelligence in diagnostics are some other examples in this “digital healthcare revolution” that is beginning to unfold.(2)

As a radiologist, I am one of the few doctors who can “see” what’s going on inside the body, head to toe, and non-invasively. Using state-of-the-art machines on a day-to-day basis to enable accurate diagnosis and helping patients get their timely treatment, in itself, is a wonder in the field of medicine. Radiology and medical imaging were always at the forefront of healthcare technology, ever since the first CT scanner was developed in the UK in 1971.



Medical imaging hardware has developed rapidly over the past few decades with decreasing CT radiation dosages and rapid, accurate high-resolution imaging that is widely available nowadays.(3) New-generation technologies, including artificial intelligence and machine learning, has the potential to take healthcare to the next level. Augmenting machine learning algorithms with the skills, knowledge and experience of a human help us to do even better. Used appropriately, this has a great potential to reduce errors and improve patient safety and outcomes.(4) Indeed the market for artificial intelligence in healthcare is set to grow from its current value at over USD 1.7 billion in 2019 to USD 21 billion by 2026, according to research by Global Market Insights.

It is very important for all of us to think about appropriate implementation and timely utilisation of technology such as artificial intelligence and be patient-focused. In this regard, a great example is our work at Qure.ai which is developing world-class machine learning algorithms on chest X-rays for healthcare professionals to accurately diagnose and monitor Covid-19 patients. This free-to-use advanced technology is now accessible even in remote parts of India. The AI-generated report is available within seconds on mobile devices thus saving time and effort, and empowering frontline clinicians for patient care.(5) This is a great example of using state-of-the-art technology to help reduce the burden on the healthcare system while improving efficiency and clinical outcomes.

The pandemic has highlighted the need, once again, to address long-term issues in India’s healthcare system urgently. In a nation of 1.4 billion, with wide geographic, social and economic variations, appropriate implementation and usage of technology have the potential to revolutionise healthcare like never before.

(This article is contributed by AMPH Co 2021’s Dr. Venkat Ramana Sudigali, Consultant Radiologist & Director and CEO, Excell Multispeciality Hospital, Hyderabad.)

References:
1.      McKinsey COVID-19 Consumer Survey, April 27, 2020.
2.        Budd, J., Miller, B.S., Manning, E.M. et al. Digital technologies in the public-health response to COVID-19. Nat Med 26, 1183–1192 (2020). https://doi.org/10.1038/s41591-020-1011-4
3.      Reed Dunnick Reflect on the Past, Plan for the Future Radiology 2015 276:2, 318-321
4.        Seong K. Mun et al Front. Artificial Intelligence for the Future Radiology Diagnostic Service Mol. Biosci., 28 January 2021 | https://doi.org/10.3389/fmolb.2020.614258
5.      https://qure.ai/covid.html Retrieved 18-6-2021
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FROM ISB Admissions Blog: New-generation tech driving healthcare in times of crisis
Healthcare and technology were intricately related since time immemorial. After all, what is the use of technology if it cannot help humans, especially now that the whole world is going through the Covid-19 pandemic?



There is no doubt that the pandemic has allowed patients and providers to embrace new-age technology as part of their routine healthcare. A Mckinsey consumer report in April 2020 in the US suggests an exponential increase in consumer telehealth preferences and a potential for USD 250 billion healthcare spend in the US to be virtualised.(1)

Not just the US, every other country in the world affected by the pandemic has seen an increase in using technological solutions in healthcare. Innovations in the biotechnology and pharmaceutical industry, contact tracing technology, digitalised supply chain management, blockchain-enabled platforms for data analytics and predictive modelling, and artificial intelligence in diagnostics are some other examples in this “digital healthcare revolution” that is beginning to unfold.(2)

As a radiologist, I am one of the few doctors who can “see” what’s going on inside the body, head to toe, and non-invasively. Using state-of-the-art machines on a day-to-day basis to enable accurate diagnosis and helping patients get their timely treatment, in itself, is a wonder in the field of medicine. Radiology and medical imaging were always at the forefront of healthcare technology, ever since the first CT scanner was developed in the UK in 1971.



Medical imaging hardware has developed rapidly over the past few decades with decreasing CT radiation dosages and rapid, accurate high-resolution imaging that is widely available nowadays.(3) New-generation technologies, including artificial intelligence and machine learning, has the potential to take healthcare to the next level. Augmenting machine learning algorithms with the skills, knowledge and experience of a human help us to do even better. Used appropriately, this has a great potential to reduce errors and improve patient safety and outcomes.(4) Indeed the market for artificial intelligence in healthcare is set to grow from its current value at over USD 1.7 billion in 2019 to USD 21 billion by 2026, according to research by Global Market Insights.

It is very important for all of us to think about appropriate implementation and timely utilisation of technology such as artificial intelligence and be patient-focused. In this regard, a great example is our work at Qure.ai which is developing world-class machine learning algorithms on chest X-rays for healthcare professionals to accurately diagnose and monitor Covid-19 patients. This free-to-use advanced technology is now accessible even in remote parts of India. The AI-generated report is available within seconds on mobile devices thus saving time and effort, and empowering frontline clinicians for patient care.(5) This is a great example of using state-of-the-art technology to help reduce the burden on the healthcare system while improving efficiency and clinical outcomes.

The pandemic has highlighted the need, once again, to address long-term issues in India’s healthcare system urgently. In a nation of 1.4 billion, with wide geographic, social and economic variations, appropriate implementation and usage of technology have the potential to revolutionise healthcare like never before.

(This article is contributed by AMPH Co 2021’s Dr. Venkat Ramana Sudigali, Consultant Radiologist & Director and CEO, Excell Multispeciality Hospital, Hyderabad.)

References:
1.      McKinsey COVID-19 Consumer Survey, April 27, 2020.
2.        Budd, J., Miller, B.S., Manning, E.M. et al. Digital technologies in the public-health response to COVID-19. Nat Med 26, 1183–1192 (2020). https://doi.org/10.1038/s41591-020-1011-4
3.      Reed Dunnick Reflect on the Past, Plan for the Future Radiology 2015 276:2, 318-321
4.        Seong K. Mun et al Front. Artificial Intelligence for the Future Radiology Diagnostic Service Mol. Biosci., 28 January 2021 | https://doi.org/10.3389/fmolb.2020.614258
5.      https://qure.ai/covid.html Retrieved 18-6-2021
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FROM ISB PGP Admissions Director Blog: New-generation tech driving healthcare in times of crisis
Healthcare and technology were intricately related since time immemorial. After all, what is the use of technology if it cannot help humans, especially now that the whole world is going through the Covid-19 pandemic?



There is no doubt that the pandemic has allowed patients and providers to embrace new-age technology as part of their routine healthcare. A Mckinsey consumer report in April 2020 in the US suggests an exponential increase in consumer telehealth preferences and a potential for USD 250 billion healthcare spend in the US to be virtualised.(1)

Not just the US, every other country in the world affected by the pandemic has seen an increase in using technological solutions in healthcare. Innovations in the biotechnology and pharmaceutical industry, contact tracing technology, digitalised supply chain management, blockchain-enabled platforms for data analytics and predictive modelling, and artificial intelligence in diagnostics are some other examples in this “digital healthcare revolution” that is beginning to unfold.(2)

As a radiologist, I am one of the few doctors who can “see” what’s going on inside the body, head to toe, and non-invasively. Using state-of-the-art machines on a day-to-day basis to enable accurate diagnosis and helping patients get their timely treatment, in itself, is a wonder in the field of medicine. Radiology and medical imaging were always at the forefront of healthcare technology, ever since the first CT scanner was developed in the UK in 1971.



Medical imaging hardware has developed rapidly over the past few decades with decreasing CT radiation dosages and rapid, accurate high-resolution imaging that is widely available nowadays.(3) New-generation technologies, including artificial intelligence and machine learning, has the potential to take healthcare to the next level. Augmenting machine learning algorithms with the skills, knowledge and experience of a human help us to do even better. Used appropriately, this has a great potential to reduce errors and improve patient safety and outcomes.(4) Indeed the market for artificial intelligence in healthcare is set to grow from its current value at over USD 1.7 billion in 2019 to USD 21 billion by 2026, according to research by Global Market Insights.

It is very important for all of us to think about appropriate implementation and timely utilisation of technology such as artificial intelligence and be patient-focused. In this regard, a great example is our work at Qure.ai which is developing world-class machine learning algorithms on chest X-rays for healthcare professionals to accurately diagnose and monitor Covid-19 patients. This free-to-use advanced technology is now accessible even in remote parts of India. The AI-generated report is available within seconds on mobile devices thus saving time and effort, and empowering frontline clinicians for patient care.(5) This is a great example of using state-of-the-art technology to help reduce the burden on the healthcare system while improving efficiency and clinical outcomes.

The pandemic has highlighted the need, once again, to address long-term issues in India’s healthcare system urgently. In a nation of 1.4 billion, with wide geographic, social and economic variations, appropriate implementation and usage of technology have the potential to revolutionise healthcare like never before.

(This article is contributed by AMPH Co 2021’s Dr. Venkat Ramana Sudigali, Consultant Radiologist & Director and CEO, Excell Multispeciality Hospital, Hyderabad.)

References:
1.      McKinsey COVID-19 Consumer Survey, April 27, 2020.
2.        Budd, J., Miller, B.S., Manning, E.M. et al. Digital technologies in the public-health response to COVID-19. Nat Med 26, 1183–1192 (2020). https://doi.org/10.1038/s41591-020-1011-4
3.      Reed Dunnick Reflect on the Past, Plan for the Future Radiology 2015 276:2, 318-321
4.        Seong K. Mun et al Front. Artificial Intelligence for the Future Radiology Diagnostic Service Mol. Biosci., 28 January 2021 | https://doi.org/10.3389/fmolb.2020.614258
5.      https://qure.ai/covid.html Retrieved 18-6-2021
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FROM ISB Admissions Blog: Family Business Updates – July 30, 2021
Tata group to enter sat broadband market with Canada’s Telesat

https://www.thehindubusinessline.com/info-tech/tata-group-to-enter-sat-broadband-market-with-canadas-telesat/article35527496.ece

Cyient to acquire WorkForce Delta for $2.7 million

https://www.livemint.com/companies/news/cyient-to-acquire-workforce-delta-for-2-7-million-11627449542476.html

 HCL Technologies selected as a strategic launch partner for Microsoft cloud for Financial Services

https://www.livemint.com/companies/news/hcl-technologies-selected-as-a-strategic-launch-partner-for-microsoft-cloud-for-financial-services-11627284318654.html

Dr Reddy’s wellness arm and ICICI Lombard tie up for cashless outpatient services to policyholders



https://www.financialexpress.com/money/insurance/icici-lombard-dr-reddys-wellness-arm-tie-up-for-cashless-outpatient-services-to-policyholders/2298984/



 

JSW Paints to grow and expand aggressively

https://economictimes.indiatimes.com/industry/cons-products/paints/jsw-paints-wants-to-grow-and-expand-aggressively/articleshow/84771362.cms

Prospects for cement industry in FY22 look bright, says Kumar Mangalam Birla



https://www.financialexpress.com/industry/prospects-for-cement-industry-in-fy22-look-bright-says-kumar-mangalam-birla/2298609/
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FROM ISB PGP Admissions Director Blog: Family Business Updates – July 30, 2021
Tata group to enter sat broadband market with Canada’s Telesat

https://www.thehindubusinessline.com/info-tech/tata-group-to-enter-sat-broadband-market-with-canadas-telesat/article35527496.ece

Cyient to acquire WorkForce Delta for $2.7 million

https://www.livemint.com/companies/news/cyient-to-acquire-workforce-delta-for-2-7-million-11627449542476.html

 HCL Technologies selected as a strategic launch partner for Microsoft cloud for Financial Services

https://www.livemint.com/companies/news/hcl-technologies-selected-as-a-strategic-launch-partner-for-microsoft-cloud-for-financial-services-11627284318654.html

Dr Reddy’s wellness arm and ICICI Lombard tie up for cashless outpatient services to policyholders



https://www.financialexpress.com/money/insurance/icici-lombard-dr-reddys-wellness-arm-tie-up-for-cashless-outpatient-services-to-policyholders/2298984/



 

JSW Paints to grow and expand aggressively

https://economictimes.indiatimes.com/industry/cons-products/paints/jsw-paints-wants-to-grow-and-expand-aggressively/articleshow/84771362.cms

Prospects for cement industry in FY22 look bright, says Kumar Mangalam Birla



https://www.financialexpress.com/industry/prospects-for-cement-industry-in-fy22-look-bright-says-kumar-mangalam-birla/2298609/
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ISB MBA Admissions & Related Blogs 03 Aug 2021, 11:00
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FROM ISB Admissions Blog: The significance of MBA in uncertain times
“The current global pandemic has hit every individual in the world, making everyone think about the various aspects of life. The business world has changed dramatically and entire models of functions are evolving every day. Is the MBA programme relevant in such uncertain times and is it the right time to pursue PGP from ISB? Find these answers through the lenses of ISB alumni.”

When Pallavi decided to pursue PGP from ISB in 2009, the world was reeling with the Global Financial Crisis of 2008, emerging from the breakdown of US Subprime Mortgage. With already a comfortable job at IBM, the risks and doubts came into consideration. For Sivakumar, the same questions came up when he decided to leave his job in the United States in 2007 & pursue an MBA from an Indian institute instead of an Ivy League school. In the case of Sameer, the world had plunged into chaos amid his PGP journey in 2001, when the World Trade Centre in New York came to rubble due to 9/11.

Pallavi Malani is now a Managing Director & Partner at Boston Consulting Group and has been in the organisation for a decade after her PGP from ISB. Sivakumar Sethuraman, after his PGP in 2008, has worked with 3 of the top 5 tech companies in the world – Amazon, Facebook & Google. Sameer Khetrapal, at present, is the Director (Category Management) at Amazon.

That is the significance of management education. In an ever-changing world, businesses around the world must evolve at a much faster pace to cater to the new realities. The skills and agility modern-day businesses require to survive & thrive come from leaders with a strong foundational layer of business understanding and management.

In an online panel discussion organised by ISB, the trio from the different batches of PGP shared their views of the relevance of pursuing an MBA in uncertain times. Here are a few important pointers raised & addressed.

ISB MBA Necessary or Relevant at all?

Speaking on the subject, Pallavi Mallani said, “During a survey conducted among the client CEOs in our firm with the onset of global pandemic last year, 85% percent indicated the need to have managers with skills navigate through the current volatile situation and the uncertainty it brings to the business environment. This situation also paves the way to new opportunities that businesses can capitalise upon. Hence, it is necessary to have managers who are well-educated, trained and skilled to work under such strenuous conditions. Time and again, the demand for people with managerial skills rises during uncertainty. Therefore, the relevance of MBA continues.”

Sivakumar added, “Pandemic or not, two skills are critical in business management. One is the ability to deal with ambiguity and the second is the ability to influence with authority. An MBA programme such as PGP helps you amass these skill sets and help you gain credibility in the talent pool market. One may not require an MBA to succeed or become an entrepreneur, but in a high talent contested world where resources are limited and decisions are made in split-seconds, the rigor and credibility of comes from the MBA.”

Sameer believes MBA is foundational in building managerial careers. While sharing his thoughts on the subject, he said, “PGP helped me become a generalist athlete in my career. It brings the ability to straddle across various functions and teams in the organization, helping you dig deep to get the desired results. This shift is extremely helpful in building you as a business leader. In terms of uncertainty, there are few concerns, but it is a remarkable time to pursue an MBA. The business world is doing well regardless of companies hitting new market caps and trillion-dollar marks. If stock markets are indicators of how markets are, there has never been a better time!”

MBA and Career Transitions

On the subject of how an MBA helps while one transitions from one organisation to another, Sivakumar emphasised on how PGP proved a game-changer in his career. “Before ISB, I was an engineer by profession and had a narrow set of skills and abilities. I benefitted a lot from PGP where I went through courses such as operations and management. Though the course was rigorous, the learnings from the programme helped me immensely while I was working with Amazon, in leading operations and working on the pricing. When I moved the Facebook, I managed trust and safety operations. Now at Google, I manage a mix of product management, program management & operations. I circle back my ability to juggle through various roles and bring results managing different sets of things to ISB. The confidence the programme provides is beyond measure.”

Consulting as a career after MBA

Sharing her experience as a seasoned consultant in a Top Consulting firm in the world, Pallavi mentioned how PGP helped her prepare well for her career. “For a successful career in consulting one needs to ability to think in a structured manner. One should be able to solve a diverse set of problems and go beyond the areas of expertise to bring a well-rounded solution that clients value. One also needs a wide network to leverage opportunities and client relationships. PGP provides a substantiative value in all these aspects. The course is rigorous and highly diverse, cutting across all the subjects and topics in business management. It gives the varied view in a very structured way, automatically imbibing the rigorous-structured thinking ability. The diverse peer network and the larger alumni network give you an additional head-start while starting your career as a consultant. The top-tier consulting firms hire from top-tier management schools. ISB helps you signal the world your dedication to upgrade your skillsets and access to the consulting world.”

Future of Business Management & Relevance of MBA

Stressing upon the new-age realities, the shift in business models and the future of MBA, Sivakumar said, “Most CEOs in the world including mine (at Google) today are MBA graduates. So, the relevance of an MBA is strong and keeps growing in the coming years. In the technology sector, one needs to be a techno-manager rather than be a technologist for career progression. While one needs to have a deep understanding of technology, one also needs to develop general management skills in terms of strategy, marketing, finance and leadership. This helps you become a well-rounded manager, propelling you up the management ladder. Most companies today rely on their senior executives to run independent businesses within the organisation. PGP definitely arms you these skills in a much more structured way and confidence to realise the desired results.”

Adding from her experience, Pallavi added, “MBA will actually be more relevant in near future. The kind of profiles consulting as well other companies are currently recruiting indicates the need for more managerial talent to take on contemporary problems and aspirations the organisations have. Even after we come out of this pandemic, the opportunities which come up will certainly raise the demand for MBA graduates & managerial talent.”

The Right Time to Pursue MBA

When asked about the right time to pursue MBA, Pallavi mentioned,” Though it is a hard one to pin-point, the right time for MBA comes when you feel stagnant in your career, or you need to change your career trajectory. In order to grow in your profession or change it, one needs to pick up suitable skills and learn about diverse fields of business management. PGP helps you to upskill and gain positive momentum in your career trajectory. Learning is a lifetime opportunity and one year at ISB is totally worth it in a grander scheme of things.”

Sivakumar added, “In my opinion, the right time to pursue PGP from ISB is when you are out of your early job cycle. The richness of the course is realised not only by what you learn but what you bring to the table. Every student in ISB is a co-faculty, bringing in the experience, expertise and learnings from the diverse field. I recommend PGP at a 4 to 5-year mark of career, which is when the required experience has been successfully achieved.”

Lastly, Sameer concluded the topic with the range of experience a PGP class has. “There is never a right time to go for education or re-education. Be it in the early 20s or late 40s, education always helps grow more in your life. ISB helps you spur the insights to see education more holistically. The median for PGP is 4-5years but investing one year in education is something one should strive for. It is never too late (be it whiter or lesser hair) to go back for education.”
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FROM ISB PGP Admissions Director Blog: The significance of MBA in uncertain times
“The current global pandemic has hit every individual in the world, making everyone think about the various aspects of life. The business world has changed dramatically and entire models of functions are evolving every day. Is the MBA programme relevant in such uncertain times and is it the right time to pursue PGP from ISB? Find these answers through the lenses of ISB alumni.”

When Pallavi decided to pursue PGP from ISB in 2009, the world was reeling with the Global Financial Crisis of 2008, emerging from the breakdown of US Subprime Mortgage. With already a comfortable job at IBM, the risks and doubts came into consideration. For Sivakumar, the same questions came up when he decided to leave his job in the United States in 2007 & pursue an MBA from an Indian institute instead of an Ivy League school. In the case of Sameer, the world had plunged into chaos amid his PGP journey in 2001, when the World Trade Centre in New York came to rubble due to 9/11.

Pallavi Malani is now a Managing Director & Partner at Boston Consulting Group and has been in the organisation for a decade after her PGP from ISB. Sivakumar Sethuraman, after his PGP in 2008, has worked with 3 of the top 5 tech companies in the world – Amazon, Facebook & Google. Sameer Khetrapal, at present, is the Director (Category Management) at Amazon.

That is the significance of management education. In an ever-changing world, businesses around the world must evolve at a much faster pace to cater to the new realities. The skills and agility modern-day businesses require to survive & thrive come from leaders with a strong foundational layer of business understanding and management.

In an online panel discussion organised by ISB, the trio from the different batches of PGP shared their views of the relevance of pursuing an MBA in uncertain times. Here are a few important pointers raised & addressed.

ISB MBA Necessary or Relevant at all?

Speaking on the subject, Pallavi Mallani said, “During a survey conducted among the client CEOs in our firm with the onset of global pandemic last year, 85% percent indicated the need to have managers with skills navigate through the current volatile situation and the uncertainty it brings to the business environment. This situation also paves the way to new opportunities that businesses can capitalise upon. Hence, it is necessary to have managers who are well-educated, trained and skilled to work under such strenuous conditions. Time and again, the demand for people with managerial skills rises during uncertainty. Therefore, the relevance of MBA continues.”

Sivakumar added, “Pandemic or not, two skills are critical in business management. One is the ability to deal with ambiguity and the second is the ability to influence with authority. An MBA programme such as PGP helps you amass these skill sets and help you gain credibility in the talent pool market. One may not require an MBA to succeed or become an entrepreneur, but in a high talent contested world where resources are limited and decisions are made in split-seconds, the rigor and credibility of comes from the MBA.”

Sameer believes MBA is foundational in building managerial careers. While sharing his thoughts on the subject, he said, “PGP helped me become a generalist athlete in my career. It brings the ability to straddle across various functions and teams in the organization, helping you dig deep to get the desired results. This shift is extremely helpful in building you as a business leader. In terms of uncertainty, there are few concerns, but it is a remarkable time to pursue an MBA. The business world is doing well regardless of companies hitting new market caps and trillion-dollar marks. If stock markets are indicators of how markets are, there has never been a better time!”

MBA and Career Transitions

On the subject of how an MBA helps while one transitions from one organisation to another, Sivakumar emphasised on how PGP proved a game-changer in his career. “Before ISB, I was an engineer by profession and had a narrow set of skills and abilities. I benefitted a lot from PGP where I went through courses such as operations and management. Though the course was rigorous, the learnings from the programme helped me immensely while I was working with Amazon, in leading operations and working on the pricing. When I moved the Facebook, I managed trust and safety operations. Now at Google, I manage a mix of product management, program management & operations. I circle back my ability to juggle through various roles and bring results managing different sets of things to ISB. The confidence the programme provides is beyond measure.”

Consulting as a career after MBA

Sharing her experience as a seasoned consultant in a Top Consulting firm in the world, Pallavi mentioned how PGP helped her prepare well for her career. “For a successful career in consulting one needs to ability to think in a structured manner. One should be able to solve a diverse set of problems and go beyond the areas of expertise to bring a well-rounded solution that clients value. One also needs a wide network to leverage opportunities and client relationships. PGP provides a substantiative value in all these aspects. The course is rigorous and highly diverse, cutting across all the subjects and topics in business management. It gives the varied view in a very structured way, automatically imbibing the rigorous-structured thinking ability. The diverse peer network and the larger alumni network give you an additional head-start while starting your career as a consultant. The top-tier consulting firms hire from top-tier management schools. ISB helps you signal the world your dedication to upgrade your skillsets and access to the consulting world.”

Future of Business Management & Relevance of MBA

Stressing upon the new-age realities, the shift in business models and the future of MBA, Sivakumar said, “Most CEOs in the world including mine (at Google) today are MBA graduates. So, the relevance of an MBA is strong and keeps growing in the coming years. In the technology sector, one needs to be a techno-manager rather than be a technologist for career progression. While one needs to have a deep understanding of technology, one also needs to develop general management skills in terms of strategy, marketing, finance and leadership. This helps you become a well-rounded manager, propelling you up the management ladder. Most companies today rely on their senior executives to run independent businesses within the organisation. PGP definitely arms you these skills in a much more structured way and confidence to realise the desired results.”

Adding from her experience, Pallavi added, “MBA will actually be more relevant in near future. The kind of profiles consulting as well other companies are currently recruiting indicates the need for more managerial talent to take on contemporary problems and aspirations the organisations have. Even after we come out of this pandemic, the opportunities which come up will certainly raise the demand for MBA graduates & managerial talent.”

The Right Time to Pursue MBA

When asked about the right time to pursue MBA, Pallavi mentioned,” Though it is a hard one to pin-point, the right time for MBA comes when you feel stagnant in your career, or you need to change your career trajectory. In order to grow in your profession or change it, one needs to pick up suitable skills and learn about diverse fields of business management. PGP helps you to upskill and gain positive momentum in your career trajectory. Learning is a lifetime opportunity and one year at ISB is totally worth it in a grander scheme of things.”

Sivakumar added, “In my opinion, the right time to pursue PGP from ISB is when you are out of your early job cycle. The richness of the course is realised not only by what you learn but what you bring to the table. Every student in ISB is a co-faculty, bringing in the experience, expertise and learnings from the diverse field. I recommend PGP at a 4 to 5-year mark of career, which is when the required experience has been successfully achieved.”

Lastly, Sameer concluded the topic with the range of experience a PGP class has. “There is never a right time to go for education or re-education. Be it in the early 20s or late 40s, education always helps grow more in your life. ISB helps you spur the insights to see education more holistically. The median for PGP is 4-5years but investing one year in education is something one should strive for. It is never too late (be it whiter or lesser hair) to go back for education.”
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FROM ISB PGP Admissions Director Blog: 6 key lessons from T Sudhakar Pai on “Multigenerational Family Businesses & Intergenerational Challenges”
Being born into any family, whether business or non-business one, is purely by accident. None of us has a choice in it. We cannot choose where we are born but we can always choose what path we take in our life.

Here are few lessons for those born into a business family from Mr T Sudhakar Pai, a generational family businessman of Pais of Manipal and Chairman & Managing Director at Kurl-on Enterprise Ltd.

Lesson 01: Freedom of Choice 

Previous generations should let next generations figure out & manage things by themselves. With guidance being the key, elders should let young guns choose the role and capacity at which they want to contribute to the family business.

Lesson 02: United the Business Stands

Most of the businesses do not survive after the third or fourth generation due to splits arising from lack of vision, cohesion & poor decisions. Families should always find ways to keep the family business intact. Remember, the true strength of your five fingers can only be realised when they come together.

Lesson 03: The Commonsense Mathematics of Family Business

The commonsense mathematics in a family business is about how 1 & 1 can be 1, 2, 0 or even 11 as well, depending upon where they stand. If 1 and 1 stands alone, their individual value will remain 1. If 1 is in the difference to 1 the outcome will be 0. If 1 is added to 1, the value will be 2. But, if 1 stands next to 1, the value becomes 11. Always find a way to make 1 and 1 equal to 11. That is the value family businesses should strive for.

Lesson 04: Know the Need, Avoid the Greed 

While drawing wealth from the family business, one should understand the difference between need & greed. If your needs are met, you shouldn’t become greedy. Generational family businesses vanish when even one member of the family becomes greedy.

Lesson 05: Professional Management VS Family Management 

Whether professional or family, it all comes down to right management and wrong management. At times, even a family member can be the wrong manager for a family business and a professional manager can run a family business very well. The family should know how to observe and make timely decisions for the best interest of the business.

Lesson 06: Profitability & Governance – the boundary

Discipline & more importantly, self-discipline is the key to better governance in business. Families should realise the core strength of the business and make competence the main differentiator for people in important roles. To manage a family business, one should be a communist at the family level and a capitalist at the office level, keeping socialism out of the jurisdiction.

Mr. T Sudhakar Pai is Chairman & M.D. of Kurl-on Enterprise Ltd. He belongs to the third generation of Pais of Manipal, reputedly known as “Visionary Bankers” and founders of the Syndicate Bank. The family also promoted several Public Limited Companies, such as Maha Rashtra Apex Corporation Ltd., ICDS Ltd., Manipal Finance Corporation Ltd., Kurl-on Ltd. to name a few, earning a place for the “Manipal Group” on the business map of South India.

The article summarises his interactive session “Leadership Talk” organised by Thomas Schmidheiny Centre for Family Enterprise at ISB.
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FROM ISB Admissions Blog: 6 key lessons from T Sudhakar Pai on “Multigenerational Family Businesses & Intergenerational Challenges”
Being born into any family, whether business or non-business one, is purely by accident. None of us has a choice in it. We cannot choose where we are born but we can always choose what path we take in our life.

Here are few lessons for those born into a business family from Mr T Sudhakar Pai, a generational family businessman of Pais of Manipal and Chairman & Managing Director at Kurl-on Enterprise Ltd.

Lesson 01: Freedom of Choice 

Previous generations should let next generations figure out & manage things by themselves. With guidance being the key, elders should let young guns choose the role and capacity at which they want to contribute to the family business.

Lesson 02: United the Business Stands

Most of the businesses do not survive after the third or fourth generation due to splits arising from lack of vision, cohesion & poor decisions. Families should always find ways to keep the family business intact. Remember, the true strength of your five fingers can only be realised when they come together.

Lesson 03: The Commonsense Mathematics of Family Business

The commonsense mathematics in a family business is about how 1 & 1 can be 1, 2, 0 or even 11 as well, depending upon where they stand. If 1 and 1 stands alone, their individual value will remain 1. If 1 is in the difference to 1 the outcome will be 0. If 1 is added to 1, the value will be 2. But, if 1 stands next to 1, the value becomes 11. Always find a way to make 1 and 1 equal to 11. That is the value family businesses should strive for.

Lesson 04: Know the Need, Avoid the Greed 

While drawing wealth from the family business, one should understand the difference between need & greed. If your needs are met, you shouldn’t become greedy. Generational family businesses vanish when even one member of the family becomes greedy.

Lesson 05: Professional Management VS Family Management 

Whether professional or family, it all comes down to right management and wrong management. At times, even a family member can be the wrong manager for a family business and a professional manager can run a family business very well. The family should know how to observe and make timely decisions for the best interest of the business.

Lesson 06: Profitability & Governance – the boundary

Discipline & more importantly, self-discipline is the key to better governance in business. Families should realise the core strength of the business and make competence the main differentiator for people in important roles. To manage a family business, one should be a communist at the family level and a capitalist at the office level, keeping socialism out of the jurisdiction.

Mr. T Sudhakar Pai is Chairman & M.D. of Kurl-on Enterprise Ltd. He belongs to the third generation of Pais of Manipal, reputedly known as “Visionary Bankers” and founders of the Syndicate Bank. The family also promoted several Public Limited Companies, such as Maha Rashtra Apex Corporation Ltd., ICDS Ltd., Manipal Finance Corporation Ltd., Kurl-on Ltd. to name a few, earning a place for the “Manipal Group” on the business map of South India.

The article summarises his interactive session “Leadership Talk” organised by Thomas Schmidheiny Centre for Family Enterprise at ISB.
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FROM ISB Admissions Blog: Radiology and the Covid War
The past year and a half was a year of uncertainty. As we await the third wave and more, I introspect how the pandemic has affected our workplace behaviour, mental wellbeing and work-life balance drastically.

The graphic below is a reflection of our journey in radiology.



Learnings from the past year: From being a vestigial arm of healthcare during the early days of Covid-19 with low work volumes in imaging, the radiology community was hurled into this battle of uncertainty.

Tackling initial anxiety at work: Due to the initial fear of working in Covid-affected areas, radiographers and consultants had Zoom meetings and weekly briefings on policy changes and Covid-19 care. The supply of adequate PPE and sanitisation/ disinfection practice in all sections of radiology was a positive for the teams. We segregated Covid from non-Covid care delivery pathways and introduced norms of practising safe and smart imaging. We reduced the imaging waiting, overcrowding, and scan cycles to minimise exposure to all stakeholders.

Leveraging digital radiology in Covid care units: We moved slowly to capitalise on X-ray radiology to assist the diagnosis and surveil Covid pneumonia. Digital mobile X-ray machines were procured on lease and moved into isolation wards and critical care units as the point of care support. The critical care workforce was trained to take radiographs in case of emergency. USG/Doppler protocols for fast USG for abdomen, thorax, and fluid challenge was encouraged.

Healthcare IT transformation: IT was a great enabler during the pandemic. X-ray transfer was enabled on digital devices and mobile devices. Hospital radiology became paperless. The wi-fi enabled seamless and rapid image data transfers reduced people and asset movement in the isolation areas.

Adoption of AI: Phone calls from EMO were non-stop and 24X7. Radiology was weaponised to battle the virus with machine learning and artificial intelligence. We introduced voice recognition bots for reporting via desktop as well as mobile devices. In the early days, we were trying to study the X-rays of lungs, comprehensive reports, and print correct findings to solve the treating dilemmas. As weeks flew by, we matured from X-ray to HRCT scans. We created reporting standards, smart reporting, adopted global guidelines, and consensus statements were structured with colleagues in the field.



HRCT became the mainstay for early diagnosis and prognosis in Covid-19 pneumonia.  We partnered with AI companies to use X-ray as well as HRCT triage for reducing the reporting TAT to assist in fast-tracking admissions as well as home care. Our secondline healthworkers were fast-tracked into respiratory and ENT radiology like Netflix and  Amazon Prime hit India in 2020. Our uncertainty has now evolved into confidence, well-armed with the best tools to fight this war.

Making waves in deep tech space: The pandemic opened opportunities for research and scientific deliberations all over the world. We capitalised on moving ahead to partner with big data and deep tech industry to make waves overseas and in India, by collaborating with Japan.

As we faced the second wave, Mucormycosis hit India hard. Once again, radiology geared up for another battle, this time around with MRI and contrast studies for evaluating the impact of Fungal Sinusitis. Our priority has shifted from keeping ourselves safe to keeping the community safe. Post vaccination, our teams feel more safe and secure and are brimming with renewed confidence. Needless to say, the pandemic led to the introduction of the right tools and their rapid adoption. And, this will transform the future of digital radiology.

 

(This blog is contributed by AMPH Co 2020 alumnus Dr. Avinash Nanivadekar, Head Radiologist & Chief Digital Officer, Grant Medical Foundation, Ruby Hall Clinic, Pune. Read his story here.)
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FROM ISB PGP Admissions Director Blog: Radiology and the Covid War
The past year and a half was a year of uncertainty. As we await the third wave and more, I introspect how the pandemic has affected our workplace behaviour, mental wellbeing and work-life balance drastically.

The graphic below is a reflection of our journey in radiology.



Learnings from the past year: From being a vestigial arm of healthcare during the early days of Covid-19 with low work volumes in imaging, the radiology community was hurled into this battle of uncertainty.

Tackling initial anxiety at work: Due to the initial fear of working in Covid-affected areas, radiographers and consultants had Zoom meetings and weekly briefings on policy changes and Covid-19 care. The supply of adequate PPE and sanitisation/ disinfection practice in all sections of radiology was a positive for the teams. We segregated Covid from non-Covid care delivery pathways and introduced norms of practising safe and smart imaging. We reduced the imaging waiting, overcrowding, and scan cycles to minimise exposure to all stakeholders.

Leveraging digital radiology in Covid care units: We moved slowly to capitalise on X-ray radiology to assist the diagnosis and surveil Covid pneumonia. Digital mobile X-ray machines were procured on lease and moved into isolation wards and critical care units as the point of care support. The critical care workforce was trained to take radiographs in case of emergency. USG/Doppler protocols for fast USG for abdomen, thorax, and fluid challenge was encouraged.

Healthcare IT transformation: IT was a great enabler during the pandemic. X-ray transfer was enabled on digital devices and mobile devices. Hospital radiology became paperless. The wi-fi enabled seamless and rapid image data transfers reduced people and asset movement in the isolation areas.

Adoption of AI: Phone calls from EMO were non-stop and 24X7. Radiology was weaponised to battle the virus with machine learning and artificial intelligence. We introduced voice recognition bots for reporting via desktop as well as mobile devices. In the early days, we were trying to study the X-rays of lungs, comprehensive reports, and print correct findings to solve the treating dilemmas. As weeks flew by, we matured from X-ray to HRCT scans. We created reporting standards, smart reporting, adopted global guidelines, and consensus statements were structured with colleagues in the field.



HRCT became the mainstay for early diagnosis and prognosis in Covid-19 pneumonia.  We partnered with AI companies to use X-ray as well as HRCT triage for reducing the reporting TAT to assist in fast-tracking admissions as well as home care. Our secondline healthworkers were fast-tracked into respiratory and ENT radiology like Netflix and  Amazon Prime hit India in 2020. Our uncertainty has now evolved into confidence, well-armed with the best tools to fight this war.

Making waves in deep tech space: The pandemic opened opportunities for research and scientific deliberations all over the world. We capitalised on moving ahead to partner with big data and deep tech industry to make waves overseas and in India, by collaborating with Japan.

As we faced the second wave, Mucormycosis hit India hard. Once again, radiology geared up for another battle, this time around with MRI and contrast studies for evaluating the impact of Fungal Sinusitis. Our priority has shifted from keeping ourselves safe to keeping the community safe. Post vaccination, our teams feel more safe and secure and are brimming with renewed confidence. Needless to say, the pandemic led to the introduction of the right tools and their rapid adoption. And, this will transform the future of digital radiology.

 

(This blog is contributed by AMPH Co 2020 alumnus Dr. Avinash Nanivadekar, Head Radiologist & Chief Digital Officer, Grant Medical Foundation, Ruby Hall Clinic, Pune. Read his story here.)
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FROM ISB Admissions Blog: Family Business Updates – August 6, 20201
Ashok Leyland sales jump 81% in July

https://www.business-standard.com/article/companies/ashok-leyland-sales-jump-81-yoy-in-july-truck-sales-142-in-april-121080200432_1.html

 

NCL Industries consortium bags ₹1,863-cr order from AP Housing Corporation

https://www.thehindubusinessline.com/companies/ncl-industries-consortium-bags-1863-cr-order-from-ap-housing-corporation/article35676514.ece

Hindalco Industries plans to invest Rs 8,000-10,000 crore in three plants

https://www.business-standard.com/article/companies/hindalco-industries-plans-to-invest-rs-8-000-10-000-crore-in-three-plants-121080100262_1.html

Wipro may see fastest growth in revenue among peers this fiscal

https://www.hindustantimes.com/business/wipro-may-see-fastest-growth-in-revenue-among-peers-this-fiscal-101627855918262.html

Adani Group bags two commercial coal mines on Day 1 of tranche-2 auctions

https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/adani-group-bags-two-commercial-coal-mines-on-day-1-of-tranche-2-auctions/articleshow/84983566.cms

Sewing machine biz growing strong during pandemic, says Usha International

https://economictimes.indiatimes.com/industry/miscellaneous/sewing-machine-biz-growing-strong-during-pandemic-says-usha-international/articleshow/84982876.cms
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FROM ISB PGP Admissions Director Blog: Family Business Updates – August 6, 20201
Ashok Leyland sales jump 81% in July

https://www.business-standard.com/article/companies/ashok-leyland-sales-jump-81-yoy-in-july-truck-sales-142-in-april-121080200432_1.html

 

NCL Industries consortium bags ₹1,863-cr order from AP Housing Corporation

https://www.thehindubusinessline.com/companies/ncl-industries-consortium-bags-1863-cr-order-from-ap-housing-corporation/article35676514.ece

Hindalco Industries plans to invest Rs 8,000-10,000 crore in three plants

https://www.business-standard.com/article/companies/hindalco-industries-plans-to-invest-rs-8-000-10-000-crore-in-three-plants-121080100262_1.html

Wipro may see fastest growth in revenue among peers this fiscal

https://www.hindustantimes.com/business/wipro-may-see-fastest-growth-in-revenue-among-peers-this-fiscal-101627855918262.html

Adani Group bags two commercial coal mines on Day 1 of tranche-2 auctions

https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/adani-group-bags-two-commercial-coal-mines-on-day-1-of-tranche-2-auctions/articleshow/84983566.cms

Sewing machine biz growing strong during pandemic, says Usha International

https://economictimes.indiatimes.com/industry/miscellaneous/sewing-machine-biz-growing-strong-during-pandemic-says-usha-international/articleshow/84982876.cms
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FROM ISB Admissions Blog: 6 ISB alums who made an impact in the Indian Startup Ecosystem
The Indian School of Business (ISB) is highly regarded as a premier global, independent, management institution that grooms’ business leaders and entrepreneurs.  It is the only Indian institution to be featured in the Top 25 B-Schools of FT Global MBA Rankings 2021, thus proving its mettle in providing world-class management education. Over the course of time, ISB has nurtured entrepreneurial skills in a plethora of students, who have made a name for themselves through their innovative leadership and management.

In the first edition of the ISB Verve series, we share a few notable entrepreneurs who have created a niche for themselves in their industry verticals. From automobile, technology, finance to education, their diversity truly reflects the core strengths of ISB and the potential to nurture future business leaders and entrepreneurs.

Mayank Kumar, upGrad



Mayank Kumar is an ISB Alumni from the PGP Class of 2009 and co-founder of upGrad, a unicorn startup in the Ed-tech space. upGrad began in 2015 with the conviction that in an ever-changing industry, professionals need to continuously upskill themselves in order to stay relevant. Starting with the first program in Entrepreneurship, upGrad has created some of India’s largest online programmes to help thousands of professionals achieve their career goals in the areas of data technology and management.

With over 10 years of experience in education as an investor and advisor, Mayank focuses on the overall growth and strategy, team building and strategic partnerships at upGrad. The startup received the ‘Best Education Brands’ award by Economic Times in 2018, Most Innovative Companies in India’ by Fast Company in 2017 and has made it to LinkedIn’s ‘Top 25 Startups’ two years in a row (2018 and 2019) and 1st position in 2020.

Aakash Chaudhry, Aakash Institutes


Aakash Chaudhry is the Managing Director & Co-Promoter at Aakash Educational Services Limited (AESL). An ISB alumnus from the PGP Class of 2004, he leads the senior management team and is responsible for the overall supervision and direction of the company.

Started in 1988, AESL offers coaching services for medical as well as engineering entrance exams and foundation level exams through distinct verticals namely, Aakash Medical, Aakash IIT-JEE & Aakash Foundations. With a pan-India network of 200+ Aakash Centres and more than 250,000 student Count, AESL is one the largest tutorial chain in India.

In 2021, Byju’s acquired AESL in a cash & stock deal estimated at $950 million. The buyout is among the largest acquisitions by an Indian startup – bigger than Snapdeal’s purchase of Freecharge for $400 million in 2015 & Flipkart’s acquisition of Myntra for an estimated $330 million in 2014.

In 2018, Aakash Chaudhry was recognised as one of the disruptive leaders by Business World and was listed among the coveted “40 Under 40” young leaders list.

Piyush Shah, InMobi Group


Piyush Shah is the co-founder of InMobi Group. Founded in 2007, InMobi is the world’s leading Marketing Cloud, driving real connections between brands and consumers. The startup has been recognised as 2019 CNBC Disruptor 50 Company and Fast Company’s 2018 Most Innovative Companies.

Piyush currently heads the vision, strategy, and execution of Marketing Cloud and Data Cloud services. Before taking up this role, he spearheaded the product team as the Chief Product Officer and lead the Performance Advertising business. Piyush was also instrumental in launching InMobi SmartPay, a mobile payment solution.

Married with two kids, Piyush graduated in Strategy and Marketing from ISB, Hyderabad in 2004 and was president of the ISB Alumni chapter.

Umang Kumar, CarDekho.com


Umang Kumar is an internet entrepreneur and co-founder & president of Cardekho.com. In a decade of experience across internet startups & leading media houses, Umang started his career in media/sales strategy after graduating from ISB in 2006 and found his calling as a quintessential sales guy. The same blend is what came in handy while building up a multitude of online businesses including Cardekho.com.

His company has been revolutionising the personal mobility space since 2008 by integrating technology in the automotive sector. It has expanded to Southeast Asia with Zigwheels.ph, Zigwheels.my and Oto.com & UAE with Zigwheels.ae. With investors including Google Capital, Tybourne Capital, Hillhouse Capital, Sequoia Capital, HDFC Bank, Ratan Tata and Times Internet, the company is poised to scale up & succeed.

Rahul Garg, Moglix


After graduating summa cum laude from the PGP class of 2010, Rahul Garg worked with IAB and Google before founding his startup – Moglix. Started in the year 2015, Moglix is an Asia-based E-commerce company intensively inclined towards B2B procurement of industrial supplies, in particular, MRO, Safety, Electricals, Lighting, Cleaning & Housekeeping, Office Stationery & Supplies, Power Tools and many more industry essentials.

The company currently has a supply chain network of more than 16,000 suppliers across 35 warehouses and lists more than 500,000 stock-keeping units on its online marketplace. $120 million from investors at a valuation of $1 billion in 2021, Moglix entered the exclusive unicorn club in the startup ecosystem.

 

 

Harshvardhan Lunia, Lendingkart

An ISB graduate from PGP Class of 2008, Harshvardhan Lunia is the Co-founder & CEO of Lendingkart. Founded in 2014, the
startup aims to make working capital finance available at the fingertips of entrepreneurs, allowing them to focus on business instead of worrying about the gaps in their cash-flows. Lendingkart has developed technology tools that facilitate lenders to evaluate borrower’s creditworthiness and provide them with other related services.

 

 

 

 

 

 

 
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