Innovative Indian Companies can be global leaders of future: Dr Vijay Govindarajan

Thats the message from noted management thinker Dr V Govindarajan while addressing the 20th AIMS Management Convention.Said Dr Govindarajan, With demographic &technological changes sweeping the world, the futureof business will be very different from past. Indian companies that focus on future, rather than past,will have a change to emerge as global leaders.

Dr Govindaajan emphasized that BRIC economies, particularly India and China, are reshaping the global marketplace. These markets are synonymous with low pricing, but high value for customers-- something that MNC are not particularly good at. This can put Indian companies like TATAs, ICICI, ITCand Mahindrasas potential global companies that can serve price-sensitive but value seeking customers at a global scale.

To make this leap, companies have to consciously focus on future, than merely manage the present. Companies must evaluate what percentage of their projects are about managing the current environment and what percentage are about creating future. They must focus on creating the future, while selectively forgetting the past, said Dr Govindarajan.

Talking specifically about management education, Dr Govindarajan said, B-schools are focusing on teaching the best practices. But best practices are becoming redundant fast. We must teach how to create the next practices.