Management Seminar on “Strategies to Strive and Thrive in VUCA World” on November 8, 2019
Management Seminar began with an Invocation song by Ms. Shilpa, finaly year student and the welcome address by Dr. Radha R, Dean. She welcomed the first speaker Mr. Raveendra Desai, National Head, GTM Synergy and Go To Synergy, AirTel. The target audience was a crowd of 100 first year students of PGDM and PGPM, respectively. The master of ceremony was Ms. Monisha, final year student for the day.
Raveendra Desai briefed on the terminology VUCA and the origin of VUCA, implications of the VUCA World and the factors considered for VUCA. He shared the key VUCA trends, viz., Gig economy, AI, Rent and Use and E-commerce. He expressed to the students to be ready to face the VUCA world by thorough planning and put into action and be mentally prepared for the course of action may be certain or uncertain too and handle ambiguity with agility.
He gave few key points viz., listen well, trust your gut, think differently, retract if it does not work, try with a new solution, Don’t give up and try for new options were few thoughts given by the speaker to the students.
After the tea break, the second speaker Mr. Manish Agarwal, Senior Sales Director, Belden India, gave the highlights to thrive in the VUCA world and expressed the world is moving with full of internet, digital users, social media users, and has rapidly increased from generation to generation, hence the students have to Think Fast And Think Smart !!. He conducted an activity and through the outcome of the activity, he expressed People Don’t Resist Change, They Resist Being Change.
He spoke about customer purchase funnel for B2C about Awareness, familiarity, consideration, purchase and loyalty and on the zero movement of truth. He gave the example about Uniliver buys dollars shave club for $1 billion , big billion day sale, black Friday sale in USA and showed the video how digital disruption through advertisement. Typology of social media analysis, viz., content analysis, trend analysis, social listening, data compression and responding to the online crises of the VUCA world. The World is a platform for the business to consumer (examples uber, airbnb, amazon, yelp, opentable) and for Business to business (examples, Indiamart and IBM).
Data is the new oil, transactions are taking place through online. At present, we are in the analog world. Transactions costs, search costs, co-ordination costs, contract costs are no more. All this are now taken over by digital cost, such as search engines cost, digitalisation, digital marketing and gave an overview of his company and his projects and the key solutions of connectivity and network market.
After the lunch break, the third speaker, Mr. Kishor Jagirdar, Chairman and Managing Director, Infopace Management, addressed to the students of first year, Annamalai University, and discussed with early life of 1970-80s and said what is gone is gone and not returning back, it has to be accepted in the present scenario.
He shared the VUCA world is faced by everyone, and everybody are facing it. The only thing, they have to master it through grabbing the opportunity and has to be the master of their life and nobody will be there to judge their life.
VUCA world is an opportunity for the young buds to start up. Business will be outdated every four years and the young buds have to be updated every time and know.
He had discussed on new innovations, viz., Alexa, Whatson, Google Home. He also expressed that the innovations are currently happening on the wearable devices and that is the platform, where the youngsters can grab the opportunity. Sudden changes in the market will cut down the competitions.
The future of the world is with start-ups. For every problem there is one solution. Finding the solution of the problem is an opportunity to be grabbed for any start-up to begin with. He narrated a story of how the accupunture footwear has entered into the market and the students have to know each other expertise fields and work on their expertised fields not individually but as a team, which shall yield to one innovative product.
The fourth speaker, Mrs. Salma Moosa, Founder, Startups Club, expressed that knowledge without action is of no use. She narrated her personal experience and the way she has led the life facing the challenges. She also expressed to carry an aura, personality and be strong and confident with the assets what they have. Keep updated. Figure the outcome, set the goal and focus on the present goal and not the end goal. Start doing the small things towards the goal. Do not limit theirselves. Do it to the fullest.
The programmed concluded with Vote of thanks given by Ms. Ananaya, First year Student, followed by National Anthem.