A recent study by McKinsey highlights the significance of business growth. It suggests that businesses should establish top-line growth targets not merely in relation to nominal GDP expansion, as often referenced in corporate Annual Reports, but rather against the pace of their respective industries. Ideally, businesses should aim to grow at twice or thrice the rate of industry growth. It is imperative for Indian companies to adopt a more ambitious approach to top-line expansion and compete vigorously with peers in their respective sectors. Staying ahead in their markets should be of paramount interest to shareholders. Overall, our businesses must strive to become more competitive and set higher aspirations, which will benefit both the economy and the nation.
I am delighted to share that the MMA Amalgamations Business Leadership Award 2023, conferred upon Mr. N Chandrasekaran, Chairman of TATA Sons, was a resounding success. The event witnessed the participation of over 850 attendees in person and was viewed by 29,000 online viewers. Our heartfelt thanks go to Mr. A Krishnamoorthy, Chairman of Amalgamations Group, and Mrs. Mallika Srinivasan, Chairman & Managing Director of TAFE, for their invaluable support, which contributed to the immense success of the entire award process and the award ceremony. The 20th Anantharamakrishnan Memorial Lecture, delivered by the awardee Mr. N Chandrasekaran on the theme “Indian Leadership in a Pivotal Decade,” was very well-received. Mr. Chandrasekaran’s lecture emphasized the importance for businesses to think big and act big. I am pleased to present the transcript of the lecture in this issue as the cover story, along with an embedded video of Mr. N Chandrasekaran’s insightful lecture.
Click to view the video.
MMA Women Managers Convention 2024
International Women’s Day is celebrated on March 8th every year, marking more than a century of recognizing the importance of women worldwide.
MMA has been a trailblazer in promoting women in management. The annual Women Managers’ Convention, our flagship event, attracts thousands of participants nationwide. Renowned for its quality and excellence, the Convention showcases distinguished speakers and accomplished professionals.
The event is a tribute to the resilience and versatility of women across various roles. At MMA, we view Women’s Day as more than a token gesture; it’s a celebration of women’s spirit and achievements. Each year, International Women’s Day carries a specific theme. The theme for 2024 is “Invest in Women: Accelerate Progress,” aimed at addressing economic empowerment.
In today’s economy, characterized by innovation, diversity, and inclusivity, harnessing women’s potential is not just morally imperative but strategically vital. True empowerment lies in women’s ability to shape their destinies without constraints. Let’s champion their aspirations and pave the way for a more inclusive and prosperous future. Women’s empowerment is not a slogan; it’s the key to unlocking the nation’s true potential.
In this context, MMA is organizing the MMA Women Managers’ Convention on the theme “Level Up!” on Saturday, March 16th, 2024, at the MMA Management Center. The Convention committee, led by Ms. Mridula Ramesh, Convention Chairperson, and knowledge partner Ms. Sharanya Modi, Global Head of HR at EFL, has meticulously curated a stellar line-up of speakers. The Convention’s content and structure have been tailored to meet the aspirations and expectations of our women delegates.
I extend a warm welcome to all the women delegates joining us at the MMA Management Center, as well as to our members watching the Convention online.
Stress Management
Stress levels are soaring within India Inc., despite numerous efforts by organizations to tackle the issue. From conducting interactive sessions to planning off-sites, the problem appears to be worsening. A recent survey revealed that over 76% of Indians stated that stress adversely affects their work performance, with 49% expressing similar concerns about their mental health. Globally, 65% of respondents reported that stress impacts their work. Additionally, research suggests that individuals with close friends in the workplace experience lower levels of stress and burnout, and are more inclined to go the extra mile. While work stress is inevitable, prolonged suffering is not.
In light of this, MMA organized a lecture on the theme “Steps to Mental Wellbeing” by Ms. Irina Dwarak, a disciple of Swami Parthasarathy from the Vedanta Academy. I am delighted to present the transcript of the lecture, along with an embedded video, in this issue to help you in your de-stressing journey.
Click to view to read and watch the video.
Right or Wrong? The GDP Way of Measuring Growth
Following a robust gross domestic product (GDP) growth estimate, we find further cause for optimism. While the growth data suggests the economy is thriving, it’s evident that it’s not firing on all cylinders, as sector-wise data presents an uneven picture. Our growth trajectory needs to be broad-based, and we must remain vigilant regarding income divergences.
Globally, economic growth is typically measured in terms of GDP figures. However, a growing school of thought argues that the GDP-centric approach to measuring growth may obscure more than it reveals. This is particularly true in the case of per capita income growth, especially in a populous and diverse country like India. Indications show that income disparities continue to widen despite apparent increases in GDP and per capita growth rates.
The complexities of these issues are compounded by factors such as the distribution of natural resources and population demographics. In India, earnings, purchasing power, and aspirations are not keeping pace with the perceived growth. Even as the country has transitioned from the post-Independence socialist model to a more market-oriented approach post-reforms, disparities persist. Ultimately, the question arises: Is GDP-centric growth the right approach? And, more importantly, is it sustainable?
In this context, MMA is organizing a seminar on Monday, March 25th, 2024, featuring prominent leaders who are experts in this field. They will share their insights on the theme “Is GDP-Centric Growth Right or Wrong? Is it Sustainable or Not?”
Watch the seminar live here to gain a deeper understanding of this complex issue.
The Impact of Storytelling in the Digital Age
Storytelling is one of the earliest forms of learning, with studies revealing its multifaceted benefits. Oral storytelling, in its original form, without props, backdrops, or music, spans across various socio-economic backgrounds and promotes emotional development, cognitive growth, language skills, critical thinking, creativity, and interpersonal skills. A skilled storyteller can be truly inspirational, offering different perspectives, extracting meaning, and connecting the dots.
Throughout history, storytelling has had a profound impact on communities, particularly in contexts where tales of valor and history were shared among members. In today’s world of constant digital connectivity, face-to-face conversations often take a back seat. However, through the art of storytelling, one can experience the joy and strong sense of belonging that comes with personal interaction. While attention spans may be shorter and distractions more prevalent, a compelling storyteller has the power to captivate and surprise.
It is our commitment to foster a culture of storytelling within MMA through various programs. These initiatives have already been implemented in schools through our CSR program. In an age where digital connections often leave us feeling disconnected, storytelling serves as a medium to bind us together, alleviate stress, and promote overall well-being.
Authenticity in Advertising
India’s top court recently reprimanded a business firm for airing misleading advertisements about its products. While the judiciary is diligently safeguarding consumer interests, there’s a pressing need for broader public awareness about how science employs authentic methods to test various hypotheses for accuracy. It’s crucial for the public to remain vigilant against quackery and misleading advertisements.
In this context, MMA is organizing a discussion on the theme “Ad Wars: Fostering Healthy Competition” on April 30th, 2024. Experts will share their insights on this pertinent issue, which greatly impacts society. Watch it live on our social media portals and join the conversation.
As always, we would be happy to hear your views, comments and suggestions.
Happy reading!
