MIT School of Telecom Management (MITSOT)
A unique panel discussion and interaction of Industry CFOs with MBA students
Know your Numbers, Know your Business: The Path to Success
Saturday, 9th January 2016 : 1000 hrs to 1230 hrs
Sant Dnyaneshwar Hall, MIT Campus, Paud Road, Kothrud, Pune
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MIT Pune’s MIT School of Telecom Management (MITSOT) organized the first ever CFO Meet on Saturday, 9th January 2016 at the MIT Campus in Pune. The objective of this Meet was to give the students an opportunity to benefit from the expertise of leading senior financial professionals from Industry and interact on a variety of issues which will assist them in their future careers. These CFOs represented diverse sectors such as IT & Telecom, Manufacturing, Financial Services and Bio Fuels. The Meet which was organized in the form of a Panel discussion comprised of the following CFOs :
- Mr S Balasubramaniam, CFO, Zensar Technologies Ltd
- Mr Dattatraya Nimbolkar, CFO & Company Secretary, Praj Industries Ltd
- Mr Suresh Ghotage, CFO, Atlas Copco India Ltd
- Mr Makarand Date, CFO, MTU India Pvt Ltd
- Mr Sudipta Marjit, Principal, Tata Capital Ltd (Panel Moderator)
Prior to the event, a small note was circulated amongst all the panelists with regards to the suggested focus areas to be covered during the Panel discussion. This note was prepared by MITSOT in consultation with the Finance faculty and the objective was to ensure that the panelists cover all the relevant points from the students’ perspective and at the same ensure everyone is on the same page.
Accordingly, the panelists too in a short meeting prior to the Meet, divided the areas that each panelist would cover, depending on their areas of expertise and industry sector that they represented. This format, devised by the Panel Moderator Mr Marjit ensured that we had an interesting session and almost all relevant areas were covered. Some of the points that were discussed were as follows :
Mr Sudipta Marjit, Principal, Tata Capital Ltd
- He highlighted about the growing focus on VUCA (Volatality, Uncertainity, Complexities and Ambigiuty) Environment which is going to prevail in the times to come. This will demonstrate how people view the conditions under which they make decisions, plan forward, manage risks, foster change and solve problems. He added that modern day managers will have to gear up to face this challenging environment. However, manager should look at VUCA as an opportunity.
- He further stressed on the emergence of mobile money / wallet with the likes of Paytm and how Digital Engagement is fast becoming integral for the buyers. He also spoke on the new opportunities for finance students in digital organizations which he felt will become the norm for the future. He cited the example of Banks which are soon becoming virtual and how more opportunities will arise in the digital space.
Mr S Balasubramaniam, CFO, Zensar Technologies Ltd:
- He shared his views on the demographic dividend of India and that of India being a primarily consumer-driven economy rather than producer.
- He lauded the efforts on the digitization front through Digital India campaign.
- He highlighted new job opportunities available due to the boom of Ecommerce players like Flipkart, Snapdeal, Amazaon India etc.
- He talked about the paradigm shift these days quoting the example where CFO meets are held on Google hangouts.
Mr Dattatraya Nimbolkar, CFO and Company Secretary, Praj Industries Ltd:
- He stressed on the growing importance of Corporate Governance.
- He threw light on emerging issues like IFRS, GST, Enterprise Risk Management etc.
- He gave the mantra for success to the students “ CONTROL ON NUMBERS” and willing to learn.
Mr Suresh Ghotage, CFO, Atlas Copco India Ltd:
- He spoke on the importance of developing the RIGHT ATTITUDE – having open mind, acceptance of different cultures, adaptability, need to focus on basics eg. learning to analyze Balance Sheet, knowing accounts in full, importance of starting the career right from bottom and then learning & growing to reach the top
Mr Makarand Date, CFO, MTU India Pvt Ltd:
- He spoke about the 3Cs – compliances, Control (ownership), Confidence (Stakeholders). He also highlighted about DQ – Digital Quotient, harnessing networks etc.
- He added that for a finance professional Numbers are everything but also stressed on developing the ability to keep questioning the reliability of numbers and not just take them at face value.
- He briefly described the Life of CFO – meetings, notices, burning mid-night oil, etc. This was a good learning experience for the students.
- He mentioned that while the Company CEO is responsible for the growth of the top line, CFOs are held responsible for the bottomline.
- He stressed on the importance of being a good ROLE MODEL – leaving the right legacy behind, highest standard of ethics and moral conduct, since numbers tell their tales even after a decade or two…
The students too responded with a lot of questions with respect to career choices in the financial space, which option to go for i.e. being a entrepreneur or manager, impact of GST on the economy etc.
The Students of Finance Class of 2015 sincerely worked day and night for the grand success of the CFO Meet & other related finance events like Business Plan in association with Lenovo (seed money of INR 10 lacs, Mock-Stock Game with ICICI direct, MONOPOLY, etc).