NCR Business Summit: 2014

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NCR Business Summit- “Sustaining High Business Performance in the Changing Economic Environment

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With the theme “Sustaining High Business Performance in the Changing Economic Environment”, IIM Rohtak hosted the 3rd NCR Business Summit on November 1, 2014. This summit was an initiative by the institute to recognize the excellent contribution made by the leading business organizations operating in the National Capital Region (NCR) and to honor their outstanding achievements.

In an age when turbulence has become the norm, success in any field is often predicated on recognizing where your strengths lie and adopting strategies best suited for excellence. Examining the track record of successful business models in times of adversity reveals that innovation and reinvention is the solution to major challenges and a tool to accelerate growth.  In order to thrive in uncertain times, leaders across the globe have always set their sights on the long-term goals.

In his welcome address, Professor P Rameshan, Former Director IIMR, emphasized on the significance of this modest effort, in times where the only constant is change. The summit commenced with the keynote address by  Mr. Aayush Munjal (President, Majestic Auto Ltd.) who underscored the need for innovation in light of high market competition and ever increasing consumer demands. “To meet the growing demand, you need to keep pushing the company for reinvention; and innovation is your buzz word”.

The constant shifts in various social, cultural, economic and technological paradigms has made it imperative for the companies to provide context-specific propositions built around strong, long-lasting, profitable and ethical business practices based on multiple stakeholder collaboration. The first panel discussion focused on the growth of business organizations in uncertain times despite adversities. Mr Lalit Kumar Jain (Chairman and MD, Lakshmi Precision Screws Ltd.) mentioned that the two important yardsticks for measuring excellence of a company are customer satisfaction and employee satisfaction. He said, “At the end of the day, humans are the differentiating factor for any company in today’s world.” Mr Rajesh Jain (Managing Director, LPS Bossard Pvt. Ltd.) told about the importance of proactive and early anticipation in various facets of business. Mr Sunil Goyal (COO, Sopra Group) pointed out that what has really changed is nothing but the speed of change.

Mr Sunil Khanna (CEO-Airport Vertical, DIL- R J Corp) said “Quality of people, integrity & retention are the challenges for any company. Passion is the most important aspect of a company delivering experience.” “You have to invest in every relation & build trust among the customers”, he said. Mr Abhinandan Singh (CEO, entrancezone.com) rightly pointed out that cross functionality is a desired trait in every manager. Mr Deepak K Sharma (CEO, The Road Ahead) captured the audience with these words, “Business is a combination lock, which works only when all the keys fall into place.” Mr Mohan Narayanan (President and CEO, Auto Ignition Ltd.), Mr Makoto Saito (MD, AISIN Automotive Haryana Pvt Ltd) and Mr Sujit Panigrahi (Founder and CEO, Fitness 365) were the other esteemed panelists to share their valuable insights on the ground breaking realities prevalent today. The first panel concluded by sighting proactive customer service, innovative product offering and a passionate team as the Success Mantra for any flourished business organization.

The afternoon session saw robust deliberations on “Accelerating the Growth of my Business: The Road Ahead”. The expansion process for any company is an exciting, but strenuous one; and the most important factors are clear direction and efficient execution. Mr Deep Arora (Director, i3Indiya Group) explained it all in simple words, “Every morning you wake up with a problem, the only change is the nature of the problem and your inspiration is the solution to these problems.” Ms Juhi Rajput (MD, CNFC Media Pvt. Ltd) stated the important role played by social media as a powerful medium that can be used to reach all the stakeholders of a business. Mr Veer Sagar (Chairman and CEO, Selectronic Equipment and Services Pvt. Ltd), Mr Manuraj Jain (Managing Partner, Vincullam Capital Partners) and Mr Manoj Tibrewal (Executive VP, Au Financiers (India) Limited) were among the eminent dignitaries to illuminate the audience with their inspiring words. This was followed by a highly interactive case discussion and analysis session by former  Director IIMR.

All the dignitaries were presented a citation and a memento. Mr. Aayush Munjal (CEO, Majestic Auto) and Mr. Sunil Goyal (COO, SOPRA Group) were given the award for valuable business contribution in the NCR region. Mr. Sujit Panihrahi (CEO, Fitness365) was recognized as the most conspicuous new generation entrepreneur in the NCR region. The program ended with a high tea for the participants.

It has become a tradition of IIMR to organize events designed to enrich the learning ecosystem at IIM Rohtak. The 3rd NCR Business Summit contributed in achieving that objective through   intellectually stimulating discussions and insightful ideas to enrich the learning experience of the students as well as other attendees and achieved its objective.