THANJAVUR: Sweeping developments in science and technology across the world calls for new management principles and studies said Dr. Bimaraya Metri, director, Indian Institute of Management (IIM), Tiruchy here on Sunday.
Speaking at the decennial celebrations of Gnanam School of Business (GSB), Metri said that slow down in automobile industry brought to the focus that competition may come from anyone other than those in the industry.
Developments like ‘three d’ printing and other technologies now indicate that auto components required to make a car will become less in future. “Say for instance 1,200 components were required to make a car in the past. Now it may reduce to 120 or 200 components. This means other components and those producing them may disappear from the scene,” said Metri.
“Now small companies are challenging big companies and twenty leading companies now in the world are only 15 to 20 years old like Google etc.,” he said.
So the challenge before managers is to feel comfortable in an uncomfortable zone and plan for uncertainties. They should visualise what will be the need in future. New subjects like data science, data management should be introduced, he said.
L. Lakshmanan, chairman emeritus, Rane group said that India, as a nation, collectively failed, though individual success have been recorded. Countries like Japan, Korea and China are marching ahead, as collectively as nations they are successful.
In India major lacuna is that there is no clear policy on education, science, technology etc., he pointed out.
N. Ksihore Kanna, VP and global delivery head, insurance, 3i infotech ltd, Chennai, R. Venkatranarayanan, president, HR and IT, Rane group, Dr N. Kasimiri Raj, chairman, Governing council, GSB, S.P. Selvaraj, chairman, GSB and S.P. Aruldas, CEO, GSB, spoke....