Date:04/04/2004 URL: http://www.thehindubusinessline.com/2004/04/04/stories/2004040401590300.htm

Back Balance goals with vision, IIM-Calcutta students told

Our Bureau

Mr. Azim H Premji (right), CMD, Wipro Ltd, and Mr Y.C. Deveshwar, Chairman, Board of Governors, Indian Institute of Management Calcutta, during the convocation procession of IIMCon Saturday. - Parth Sanyal.

Kolkata , April 3

THE Chairman of Board of Governors of IIM-C, Mr Y.C. Deveshwar, applauded the faculty of Indian Institute of Management, Calcutta, who according him, sculpted the future managers of India, and still earned less than their student-managers.

Amid thunderous applause at the 39th convocation of the IIM-C, the ITC Chairman said, "The pictures I took today with each of the successful students here are my investments in gold, which I wish to encash in future with premium."

Mr Deveshwar, in an oblique response to the Union HRD Minister's general reservations against IIMs' faculty and syllabi, said that "you are the new talent of new India, courtesy your faculty."

The country was emerging as a secular and efficient economic force; and the new managers should use their skills in tapping the potential market in rural India, he said. "Wherever you are, here or abroad, whether you care for the country or not, you cannot but ignore it," he added. However, the management strategies and practices would have to be different and appropriate for the soil.

For a young manager, his suggestion was not only for enhancement of the shareholder value but addition of value for society. "Balance the short-term goal with long-term vision," he added.

Mr Azim Premji, Chairman, Wipro, who was the chief guest, stressed on the basic management tenets such as combining dreams and perseverance. Pointing out that admission of ignorance was a bliss for a young manager, he added: "If we can develop an index system by which we at least know with whom or where the knowledge is available, we have achieved quite a bit!"

Prof S. Chaudhuri, Director of IIM-C, said the vision of the institution was to be an international centre of excellence in all aspects of management education. Today, there are more than 900 management schools, some with foreign collaborations and bag of resources, in the country, he added.

"We, therefore, need to take stock of the situation and take major decisions on how we can strengthen our position as a premier management school, not only in the country, but also in the region", he added.