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Emerging Business Paradigms: Navigating Change at Unprecedented Speed

The landscape of business is evolving rapidly due to globalization, technological innovation, and changing customer expectations. This document explores the challenges and transformations within industries, emphasizing the need for organizations to become more agile and focused in their strategies. It highlights the increasing demands on businesses for quicker turnaround times, higher quality, and cost-effectiveness. Through a survey conducted with industry leaders, the report outlines the essential skills and capabilities that MBA graduates must possess to thrive in this dynamic environment.

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Emerging Business Paradigms: Navigating Change at Unprecedented Speed

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  1. “Emerging Paradigms in Business” Hardwar Management Association June 17, 2006 PART I KS/Research/2005

  2. WE ARE FAINC CHANGES AT UNPRECENDENTED SPEED Globalization and competition Less diversification and more focused business “ speed of market” - the over riding need Merger and acquisitions Technology innovation

  3. WE ARE FAINC CHANGES AT UNPRECENDENTED SPEED • Internet and e-business development. • Increasing expectations - customer and employees. • Ever increasing mobility of talent. …requires capability for business to respond to the unforeseen KS/Research/2005

  4. The CHANGE……... • Accelerating pace of change • Customer expectations • Technology • Competition • Time -speed to market • Government regulations • Employee demands Pressure for radical rethinking……… KS/Research/2005

  5. Changing expectations Better... Faster... Cheaper... Faster turnaround, processing & response time Higher Quality & Service Lower prices & cost That was then……” Pick any two” This is now…..”We want all & many more” KS/Research/2005

  6. CHALLENGES (The EDGE) • Leaders with Passion to WinMr B M Munjal, Mr N R Narsayanamurthy Mr Azim Premji, Mr K M Birla & Mr Ratan Tata • Creativity Deccan Airlines, Cavin Care & Kerala Tourism • Flexibility Bharti, Nirma • Efficiency DHL/Blue Dart Courier • Quality Sundaram Fastners,Bharat Forge,IIM’s/IIT’s • Execution holds the Key to success : AIMA-NMC KS/Research/2005

  7. CHALLENGES -Contd And above all.. • Managing In the Era of Uncertainty: • Feeling comfortable in new encounters. • Deal with multiple issues at the same time with different characteristics in a same frame of mind. • Confront new situations with an open mind. • Create a pool of experience - based upon lessons learned will be critical to manage these Challenges. KS/Research/2005

  8. As Global Manager Your Vision should Five years hence be: • Who will be your Competitors? • What Technology will apply your business? • What regulations will governs my business? • Who will be your Business Partner? • Who will be your principal Investors/Owners/stakeholders? KS/Research/2005

  9. ‘To succeed in today’s business, build an empowered organisation in which individuals have the knowledge, skills, desire and opportunity to personally succeed in a a way that leads to collective organizational success’ Stephen Covey KS/Research/2005

  10. PART II FINDINGS OF RESEARCH SURVEY on "INDUSTRY EXPECTATIONS FROM MBA's" HARDWAR MANAGEMENT ASSOCIATION June 17, 2006 KS/Research/2005

  11. 1. CLASSIFICATION OF RESPONDENTS Analysis: As it is clear from the above table and in sample survey of 86 respondents. 58% of the respondents are from service industry, 33% from commercial and 9% from the manufacturing industry KS/Research/2005

  12. 2. NEED OF M.B.A. GRADUATES Analysis: 93% respondent’s hires MBA graduates in their organisations & 7% of respondent were not interested in MBAs. KS/Research/2005

  13. 3. AREA OF SPECIALIZATION PREFERRED Analysis: According to the survey 62% respondent prefer students with Marketing specialization, 11% finance, 7% HRM, 2% others and 18% prefer students with more than one Area (Marketing or Finance or HRM) for their requirements KS/Research/2005

  14. 4. REASON FOR SELECTION Analysis: According to the survey 28% prefer practical orientation, 4% due to more demand, 51% MBA for sales generation, 17% prefer more than one selection criteria. KS/Research/2005

  15. 5. CAPABILITY OF MBAs PERFORMING IN DIFFERENT CULTURAL ENVIRONMENT Analysis: From the above table we observe that out of 86 respondents, 93% are agreed that MBAs employed by them are capable of performing in different cross culture environment and 7& respondents opposed it. KS/Research/2005

  16. 6. SATISFACTION RELATED TO THE KNOWLEDGE OF MBA GRADUATES Analysis: From the above table 77% of respondents are satisfied with subject related knowledge of hired MBA whereas 23% are not satisfied. KS/Research/2005

  17. 7. SATISFACTION WITH ADDITIONAL SKILL Analysis: According to the table 93% respondents are satisfied with additional skills like computer proficiency and qualitative ability of hired MBAs while 7% are not satisfied. KS/Research/2005

  18. 8. RATING BASED ON LANGUAGE AND COMMUNICATION SKILL Analysis: Out of 86 respondents 87% of respondents are in favour of that language competency and communication skill are essential for job while 11% said that it is preferable and 2% said that it is not required. KS/Research/2005

  19. 9. SATISFIED WITH COMMUNICATION SKILL Analysis: According to the table 60% respondents satisfied with communication skill of hired MBA whereas 32% are not satisfied and 8% did not responded on this issue. KS/Research/2005

  20. 10. RATING TO JOB RELATED ATTITUDE Analysis: According to the table 67% respondents rated that job related attitude of hired MBA is devoted and willing to work without any constraints whereas 25% said that MBA’s are devoted but work with constraints of time, place and 8% said that they have casual approach. KS/Research/2005

  21. 11. BEHAVIOUR OF HIRED MBA’S Analysis: According to table 49% or respondents said that the behavior of hired MBA was courteous whereas 40% said it was acceptable and 11% told that they were aggressive. KS/Research/2005

  22. 12. PARAMETERS OF VALUE AND ETHICS Analysis: From the above table 51% respondents said that hired MBAs are trustful, stable, reliable, 18% said honest, 21% said unstable, likely to switch frequently, 2% said least concern with ethics and 8% said on the basis of more than one parameters. KS/Research/2005

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