XIM Bhubaneswar conducted the Annual Business Conclave: Stratonomics ’22 on 10th December 2022 at XIM Auditorium at 3.30 PM, hosted by CONSTRAT- The Consulting and Strategy Consortium of XIM, Bhubaneswar. This year’s theme was Managing Change: Using Strategy to Explore New Business Horizons.
The event was graced with the presence of Rakesh Dash, Head of Corporate Strategy, Bajaj Electricals; Madhumitha Prema Ramanathan, CSO, Experian India; Santo Biswas, Corporate Director-Sales, Indian Hotels Company Limited, who shared their valuable insights with the audience.
The session commenced with the speakers lighting the lamp. It was followed by Professor Amar KJR Nayak of XIM, Bhubaneswar introducing the theme and inviting the speakers to present their views on the same. The theme “Managing Change: Using Strategy to Explore New Business Horizons” witnessed a variety of thoughts presented by the panel of our esteemed speakers. The discussion included perspectives on risk horizons in business, corporate governance, innovation, and exploring new markets.
The first speaker of the day, Rakesh Dash, Head of Corporate Strategy Bajaj Electricals, discussed various strategic templates to mitigate risks in business and how important it is for companies to explore new markets. He quoted that “From time to time, different sectors become relevant. We have to see how the market is exploring. In such a scenario, how do you manage your portfolio? It’s about striking a balance between the business’s competitive advantage and the industry.”
The day’s second speaker was Madhumitha Prema Ramanathan, CSO of Experian India spoke about how a strategist is responsible for planning, execution, and innovation. She highlighted the importance of innovation to achieve sustainable growth. Mrs. Madhumitha also stated, “Now, in the VUCA world, the strategist is not just responsible for strategy but also looking around at the competition and coming up with innovations to accommodate those risks.”
The session was further continued by the third and final speaker of the day, Santo Biswas, Corporate Director-Sales, Indian Hotels Company Limited, who enlightened us about how culture is the catalyst to change. He also iterated that companies that think strategically and not just restart to survive the dynamic business environment. He put forward the point, “How we become agile is through culture. It is the catalyst for change. We continuously reimagine our strategies to achieve excellency. Our value system and trust between our partners are what drives us.”
The event concluded with a panel discussion on how firms need to be resilient and innovate and adapt to constant changes to ensure their survival. The discussion was moderated by Prof. Sumitra Balakrishnan of XIM, Bhubaneswar, who kept the session engaging by touching upon relevant questions.
After the talk by the eminent speakers was the much-awaited question and answer session where the bright minds of XIM University asked questions relevant to the theme of the day – Managing Change. The summit concluded with felicitation of speakers and moderators and an ending note and vote of thanks by Sabyasachi Ghosh, the coordinator of Constrat, the Consulting and Strategy Consortium of XIM, Bhubaneswar.
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