A new beginning…

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While inaugurating the new Parliament building, the Prime Minister delivered an inspiring address that emphasized the need to forge a developed India during the auspicious Amrit Kaal. He aptly described the new Parliament building as a link between resolution and accomplishment.

The inauguration ceremony marked a milestone in our nation’s journey towards progress, development, and strong democratic principles. The new Parliament stands as a symbol of our collective aspirations, where every citizen is represented and every voice heard, thereby fostering an inclusive and participatory democracy. It is not merely a physical structure, but a testament to our democratic values, where ideas are exchanged, debates held, and decisions made for the betterment of our great nation. It has been meticulously designed to accommodate the evolving needs of a dynamic democracy and to provide a conducive environment for meaningful deliberations.

We convey our heartfelt gratitude to all those who have contributed to the construction of the new Parliament. Their unwavering commitment and passion have resulted in a structure that will serve as a beacon of democracy and a testament to India’s aspirations for years to come.

Open Network for Digital Commerce (ONDC) a Game Changer in Digital Commerce!

The concept behind ONDC is commendable; it aims to bring about positive changes in the e-commerce landscape. However, it is essential to evaluate whether it has actually made the intended impact on businesses. The ONDC website presents itself as “Everyone’s Commerce” and promises to deliver an e-commerce revolution in India. Its objective is to provide an alternative to large platforms with monopolistic powers by establishing an interoperable decentralized network that empowers small sellers and offers customers better choices.

Meanwhile, numerous start-ups, often labelled as monopolistic, such as Swiggy and Zomato, are facing significant challenges in maintaining profitability. It remains uncertain whether these companies will ever become highly profitable businesses. While the intent behind ONDC is laudable, the game-changing elements of its business model are not clearly apparent. It will be intriguing to observe how this idea unfolds and whether it can truly bring about the envisioned transformation in the industry.

The Journey of a Champion

I am delighted to share about a unique, upcoming event that celebrates the journey of champions. It features three outstanding sports personalities: Mr. Geet Sethi, Mr. Viswanathan Anand, and Mr. Viren Rasquinha. This event will take place on June 15, 2023, at the MMA Management Center.

This event will provide a platform for the exchange of views, knowledge, and inspiration. Participants will have the opportunity to hear firsthand accounts of the challenges faced and lessons learned by these champions. Whether you are a sports enthusiast, aspiring athlete, or simply seeking inspiration, this event promises to be a memorable experience.

Mark your calendars for June 15, 2023, and join us at the MMA Management Center to witness the journey of champions unfold before your eyes or watch it live at….

The Real Estate – AGILE

The Society of Auditors in association with MMA and with the support of KAS is organizing a one day seminar on 23 June 2023 at MMA Management Center.

Real estate is the second-highest employment generating sector, and India is poised to become the third-largest construction market in the world. However, despite its potential, this sector faces numerous challenges. This program aims to provide an excellent platform for the exchange of views and knowledge regarding various aspects of the real estate industry.

In this context, some of the topics covered during the seminar will include the challenges in plot development, property redevelopment, joint property development, leasing of unsold inventory, valuation of closing stock, accounting methods and much more. Additionally, leading advocates and chartered accountants will shed light on the trending tax disputes and provide approaches to prevent, manage, and resolve such disputes. Kindly join us in person or watch it live…

Generative AI: Embracing the Future of Productivity

Generative AI when viewed as a new tool for routine and repetitive tasks, has the potential to revolutionize the way we work, allowing us to focus our efforts on core responsibilities and thereby enhancing productivity. While it’s true that elementary jobs may face potential risks, we can mitigate the impact of AI by adapting to this transformative technology, just as we have done in the past with the emergence of new tools. AI can take care of mundane tasks, freeing up our time to concentrate on activities that truly add value.

It’s important to recognize that it is not AI itself that takes away our jobs, but rather how we choose to utilize AI as a tool. We have the power to shape our future by making informed decisions about how we leverage these technologies. We must recalibrate our skills and strategies to ensure success in an AI-driven world.

In light of this, MMA, in collaboration with E&Y and KAS, is organizing a one-day seminar titled “Generative AI: The Future is Here” on Wednesday, June 28, 2023, at the MMA Management Center. The aim of this seminar is to facilitate a comprehensive understanding of Generative AI’s business applications, limitations, regulatory considerations, and the effective utilization of these tools. Whether you join us in person or choose to watch the seminar live, this event promises valuable insights into harnessing the power of Generative AI for future endeavors.

Let’s embrace the possibilities and prepare ourselves to navigate the exciting future that lies ahead with Generative AI.

Brand IPL – Congratulations CSK!

Rains forced the IPL 2023 final into the reserve day for the first time. It was worth the wait for CSK fans: Ravindra Jadeja emerged as the hero, leading CSK to a dramatic last-ball victory against the Gujarat Titans and securing their fifth IPL title.

In this context, it is worth reflecting on the remarkable journey of the IPL since its inception in 2008. The league has evolved into a powerhouse brand, currently valued at close to $11 billion, making it one of the most valuable sporting leagues in the world. The IPL has been a game-changer for cricket, providing a solid foundation for professional cricket and generating significant revenue for the Board of Control for Cricket in India (BCCI) to foster the growth of the sport. The IPL’s success also attests to the strength of India’s robust consumer economy.

“Culture eats strategy for breakfast.” – Peter Drucker

This issue’s cover story revolves around the theme “The Company We Keep: Insights into India’s Corporate Culture.” The discussion sheds light on the emotional dilemmas, the challenges of aspiration, and the everyday battles that shape a successful career. Introspection should not solely focus on discovering flaws but equally on recognizing one’s strengths and true potential. It is often simpler to build upon existing strengths rather than creating entirely new capabilities. We invite you to read this insightful article, which includes an embedded video for your viewing pleasure!

MMA AGM 2023

I am pleased to share that the 67th Annual General Meeting (AGM) of Madras Management Association is scheduled to take place on Friday, July 7th, 2023, at the MMA Management Center. During the AGM, we will be presenting the prestigious Award for Managerial Excellence. The recipients of this esteemed award will also share their remarkable journeys that led them to receive this coveted recognition.

We are honored to have Mr Shrinivas V Dempo, Chairman, Dempo Group of Companies, and Mr. Shenu Agarwal, MD & CEO, Ashok Leyland as our esteemed guests. They have graciously accepted our invitation to present the award and address our members during the AGM. Their valuable insights and experiences are sure to inspire and motivate everyone participating in the AGM.

We eagerly anticipate your participation at the AGM, the Awards function, and the dinner that follows. It promises to be a remarkable event filled with knowledge sharing, networking opportunities, and celebration. Let us come together as a community to recognize excellence and reinforce the spirit of growth and progress of MMA.

Thank you, and we look forward to your enthusiastic participation at the AGM.