Interactive Strategic Discussion & Book Release : “High Performance Companies : Successful Strategies from the World’s Top Achievers” by Dr. Nitin Pangarkar presented by MITSOT-MCCIA
MIT School of Telecom Management (MITSOT) in association with Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) hosted an EXCLUSIVE INTERACTIVE DISCOURSE on 15th Feb, 2012 at ICC Tower, MCCIA, Senapati Bapat Road from 5:00 pm to 7:00 pm presented an insightful and refreshing new book on strategy titled “High Performance Companies : Successful Strategies from the World’s Top Achievers” by the internationally acclaimed author & a renowned strategist Dr. Nitin Pangarkar, Director Academics, National University of Singapore (NUS) and the book being published by John Wiley & Sons. This event proved to be an endeavor to provide a platform to the strategy makers from the Oxford of East !!! The event received a delightful response of 68 corporates and 33 academicians
Dr. Nitin Pangarkar is currently an Associate Professor and Academic Director of National University of Singapore’s MBA program. He has been teaching strategy for the past 18 years in leading universities across Asia, US, Europe and Middle East. He has published 19 Journal Articles, 3 Chapters in Books, and 4 other publications. He has previously authored 2 Books / Monographs like Business Strategy in Asia : A Casebook and Flying High in a Competitive Industry : Singapore Airlines. He has been honored with 8 honoraries like Best Paper – Asia Academy of Management, Taipei, 2008, Favorite Professor – NUS MBA Alumni, School of Business nominee for the Outstanding Educator Award, NUS, NUS Excellent Teachers, Outstanding Service Award, NUS Business School, Outstanding Educator Award, NUS Business School.
The stalwart from the industry Mr. Mukesh Malhotra, President MCCIA and MD, Wiekfield Group of Companies and from the academics Dr. C M Chitale, Dean University of Pune, Dr. Milind Pande, Project Director MITSOT and Mr. Anant Sardeshmukh, Director MCCIA, Pune graced this event. Mr. Mukesh Malhotra said, “Strategic Management is important for every company and this book has a good number of case studies which will help to attain successful results.”
Dr. Nitin Pangarkar in his interactive discourse focused on his agenda of
- High Performance Companies : Big picture (Content & Approach)
- Sample Chapter & Principle : Arguments & Subtleties
- & Concluding Remarks
He expressed his concerns regarding the present approaches being a Framework based approach which has no concrete implications for action action, secondly the limited degress of freedom for a decision maker, thirdly it is a dominant firm based and fourthly a less consideration to context / history.
Dr. Nitin Pangarkar presented on the key features of high performance companies being
- Principle based rather than framework based
- Ability to make day-to-day decisions
- Going behind large and high performance companies
- Considering formulation and implementation
- & Explicitly considering History : According to Winston Churchill, “History teaches us everything we need to know.”
Dr. Nitin Pangarkar believes in Six key principles for a high strategic company
- Resource acquisition : Discover diamonds among coal (to learn to appreciate). He cites Mr. Laxmi Mittal and his strategy for resource acquisition.
- Resource allocation : Build durable assets
- Overall business level strategy : small wins lead to great wins
- Innovation strategy : Integrate to innovate
- Externally driven strategic adaption
- Internally driven strategic adaption
Dr. Nitin Pangarkar says, “Simplicity is easy to follow.” He discussed on subtleties and nuances of small wins based strategy being
- A unique recipe : to find your own special recipe to solve a problem.
- Great belief in the recipe – through thick and thin
- Management continuity : to be consistent in its strategy planning
- Uncomplicated industries
- Appropriate skills
- Strong leadership
His uniqueness of the book is focus on Crisis Management by
- Customer concern & responsiveness
- Stakeholder orientation
- High degree of readiness
He demonstrated on exemplar companies strategies on the basis of
- Clearly conceived strategy defying conventional wisdom : do something different
- Careful attention to execution / implementation issues
- Long view : win the future battle, acquire wisdom to do so
- CEO / top managers set the correct example
- Management of risks : action speaks louder
Dr. Nitin Pangarkar answered several questions from the industry leaders like
Why go to the History ?
– History teaches everything we need to know. It helps clear the mistakes we make and to invest in the best opportunities.
Comparison between in Pepsi and Coke ?
– Coke invested in the emerging markets and improved the strategy on transportation whereas Pepsi failed in that.
How does Small wins work ?
– (Giving the example of ITW and Boeing) he answered saying ITW knows how to make money while Boeing doesn’t.
How important is a manager ?
– Manager is the most important of all in any industry. It is an efficient manager who disseminates work among the employees to bring an efficient output. He strategies the whole work to bring in the profits.
The approach resulted in a high profile exchange of thoughts and knowledge sharing between the stalwarts & captains of industry & the author Dr. Nitin Pangarkar.