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Trailblazers Share Thought-Provoking Views on Indian... Entrepreneurship ISSN 2321-9297 Trailblazers share thought-provoking views on Indian... ENTREPRENEURSHIP & JUGAAD CULTURE & WILL TO CHANGE HIGHER EDUCATION & DEMOGRAPHIC DIVIDEND GOVERNANCE & GOVERNMENT MANAGEMENT & Mis-manaGEMENT Vol 1. Issue 1. October-December 2013 Inaugural Issue ANIL K. GUPta ANURag BatRA The ARVIND RangasWAMY DES DEARLOVE DEVDUTT Pattanaik Idea JagDISH SHETH JAN-BENEDICT E.M. STEENKAMP KEVIN STOLARICK of MARK ESPOSITO NAVI RADJOU NILA MADHAB PanDA India NIRMALYA KUMAR Pankaj GHEMAWat PaRanjOY GUHA THAKURta PRAMatH RAJ SINHA PRasaD KAIPA RAJ SISODIA RAVI VEnkatEsan RISHIKESHA T. KRISHnan ROGER MARTIN SACHIN GARG STUART CRAINER SUsan ZIELinski TERENCE TSE VijaY GOVINDARajan VINEET NAYAR YOGESH KOCHHAR Vol 1. Issue 1. October-December 2013 T THINKERS Magazine is now available Editor-in-Chief H INK in the following versions: AMIT KAPOOR Print: Get access to the print copy which will be 02 20 ER delivered to your place. (Available only in India) Consulting Editor S Digital: Download the application and enjoy MALVIKA CHANDAN reading it on your device. THE POWER OF IDEAS THE (CURRENT) EXTENT Designed By By Stuart Crainer & Des Dearlove OF INDIA’s URBANIZATION Single copy IdeaWorks Design & Strategy Pvt Ltd From Silicon Valley to Tokyo, companies are By Kevin Stolarick, PhD Price: $14.99 | `500 Publisher united in a strong desire to innovate, though their Visual imageries depicting India’s growing Annual subscription Institute for Competitiveness approaches to innovation may vary. urbanization over the years creates a far greater Price: $45 | `1500 Subscription includes: impact than documented statistics giving the same In India, a copy of print magazine Editorial Board information. and digital application In alphabetical order For international readers, ANURag BatRA access to only digital application. 06 MD and Editor-in-Chief Exchange4Media INDIA AT 66: B V RAO A MIXED AND MIxed-uP STORY 28 Editor By Paranjoy Guha Thakurta OPENING UP THE IDEA OF INDIA Governance Now Independent India’s first Prime Minister envisioned By Pankaj Ghemawat JOAN BIGHAM a “mixed economy” for India with the best elements Several socio-economic indicators suggest that Managing Director of capitalism and socialism. Looking at key socio- India is far from a sweet spot in terms of global Global Solution Networks economic indicators today, the verdict is almost connectedness, which is an imperative for fast Executive Vice President Tapscott Group unanimous: we took the worst of both worlds. growth. MANOJ KUMAR Managing Partner Hammurabi & Solomon NEERA VOHRA 10 32 Program Coordinator WHY BOTHER WITH A VERY INDIAN FOUR HURDLES EMERGING MARKET Institute for Competitiveness THINKERS, is a presentation of Thinkers50 India, which APPROACH TO MANAGEMENT? FIRMS HAVE TO OVERCOME is about discussing new ideas, new thoughts, addressing ROHIT BansaL By Devdutt Pattanaik challenging issues, forging new paths, in the process creating CEO & Co-Founder TO CREATE GLOBAL BRANDS an ever widening circle of thought leadership and create synergy India Strategy Group Modern management uses a Western framework By Nirmalya Kumar in the thought leadership space by integrating the online and Hammurabi & Solomon Consulting to explain cultural phenomenas around the world, and Jan-Benedict E.M. Steenkamp offline experiences. and overlooks the fact that different cultures have Emerging market brands will become increasingly Thinkers50 India is a joint initiative of Institute different frameworks they operate from. global in the coming decade, but in order to do so for Competitiveness, India and Thinkers50. they – China in particular – will have to change Institute for Competitiveness, India is an international certain existing practices. initiative centred in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on 16 competition and strategy. Institute for Competitiveness, India conducts and supports indigenous research, offers Interview academic and executive courses, and provides advisory services 38 to the Corporate and the Governments. The institute studies VIJAY GOVINDARAJAN competition and its implications for company strategy; the In an interaction between Amit Kapoor and competitiveness of nations, regions & cities and thus generates THREE IDEAS FOR HIGHER Vijay Govindarajan, Earl C. Daum 1924 Professor guidelines for businesses and those in governance; and suggests EDUCATION IN INDIA and provides solutions for socio-economic problems. of International Business at the Tuck School of By Pramath Raj Sinha Business at Dartmouth College, the latter talks Created in 2001 by Stuart Crainer and Des Dearlove, the about higher education in India and the US and Problems of quality, access, and skewed demand- Thinkers50 was the first-ever global ranking of management supply within higher education in India, are all thinkers. In the intervening decade, the scope of Thinkers50 also the benefits of reverse innovation. has broadened to include a range of activities that support its too familiar. If a genuine effort were made to put a mission of identifying, ranking and sharing the best management few ideas into action, the existing scenario would thinking in the world. Today, Thinkers50 is widely recognized radically change. as the world’s definitive ranking of the top 50 business thinkers, and the T50 Distinguished Achievement Awards are widely regarded as the “Oscars of management thinking.” T H INK 42 60 78 100 ER EMPLOYEES FIRST, MOVING THE ECONOMY Interview CSR: A CASE FOR CORPORATE S CUSTOMERS SECOND By Susan Zielinski JAGDISH SHETH OR COLLECTIVE SR By Vineet Nayar There are many opportunities for India in the In an interaction between Amit Kapoor and By Yogesh Kochhar The journey from a customer-centric to employee- emerging global new mobility industry. Jagdish Sheth, Charles H. Kellstadt Chair of The passage of the Companies Bill that directs centric organization requires asking tough questions Marketing in the Goizueta Business School at companies to spend a percentage of profit on and following it up with a cultural transformation. Emory University, the latter talks about his idea CSR is a big step in the right direction. However, of India, weaving in his expertise in behavioural a lot more needs to be done to ensure efforts are 64 economics and management. brought to their fruition. FAST EXPANDING MARKETS: 46 A NEW NEEDED ECONOMIC GOING BEYOND JUGAAD: LENS IN THE 21ST CENTURY 84 104 CAN INDIA BUILD A SYSTEMATIC By Terence Tse, Mark Esposito JUGAAD INNOVATION: MY BRAND OF CHALLENGES INNOVATION CAPABILITY? This seminal paper on FEM was presented for By Sachin Garg the European Business Review in March 2013. CONVERTING ADVERSITY By Rishikesha T. Krishnan The ability to see challenges as opportunities FEM does not define business opportunities by INTO OPPORTUNITY Indian companies have apparent blocks which and not problems is an essential quality needed geographical boundaries but by places By Navi Radjou inhibit their innovative capability, but as some for entrepreneurs in India. companies have shown specific steps can be taken where there is a vast variety of opportunites. Jugaad is the gutsy art of spotting opportunities in to successfully overcome these problems. the most adverse circumstances and resourcefully improvising solutions using simple means. 108 70 Interview 50 WISDOM AT WORK: MOVING FROM 90 ROGER MARTIN KAL AAJ AUR KAL! SMART TO WISE LEADERSHIP In an interaction between Amit Kapoor and By Nila Madhab Panda BOOK EXcerpt A CALL TO ACTION Roger Martin, Dean of the Rotman School of The concept of ‘Unity in Diversity’ outlined FROM SMART TO WISE: By Ravi Venkatesan Management, the latter shares his view on the by our great leaders in the Constitution has AcTING AND LEADING WITH WISDOM It is one thing to survive in the chaos called India, India story and why he believes it is far from over. lost meaning and relevance in today’s India. By Prasad Kaipa and Navi Radjou but by not correcting its condition of dishevelment, Mr Martin also serves on the Boards of Thomson India will never succeed in realizing its potential. Reuters Corporation and Research in Motion and In this section, the authors talk about the need is chair of Tennis Canada. for leaders to exhibit wisdom, and differentiate 54 between smartness and wisdom. Interview 94 112 RAJ SISODIA RETHINKING THE ROLE In an interaction between Amit Kapoor and 76 WHY INDIA MUST BE AUDACIOUS OF QUALITY IN INDIA’s By Anil K. Gupta Raj Sisodia, one of the thought leaders of the INDIA NEEDS A THINKING CULTURE! HIGHER EDUCATION SYSTEM Conscious Capitalism movement globally, the latter By Anurag Batra By Arvind Rangaswamy India today stands at a critical crossroad, similar shares his view on this concept. His book Firms to the one it did in 1991. If the government wants In the land that gave birth to the great Buddha and of Endearment: How World Class Companies Higher education institutes in India need to to seize the opportunity and transform this into Aryabhata, it is baffling to see the paucity and lack Profit from Passion and Purpose is considered improve quality in multiple areas, and particularly a “golden moment” again, it will need to take of acceptance of thinkers, who in fact have the a foundational work in explaining the precepts fast-track initiatives around attracting high quality concrete actions from the inside out. capability to endow and enrich the fabric of our and performance implications of pursuing faculty. society. a conscious approach to business. 116 CONTRIBUTORS
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