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Drumbeat: Ad Buzzaar
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Tuesday, September 22, 1998
"Next millennium will be a challenge to industry"
OUR BUREAU
MUMBAI, Sept 21: The next millennium would be a great challenge for Indian industries, when the business environment would be globalised, hyper-competitive and continuously changing Philips India president K Ramachandran said while inaugurating the first HR convention "Nirman '98" organised by the SIES college of management studies at Nerul, Navi Mumbai. To achieve a sustainable competitive advantage, he said the social structure, organisational structure and individual's role need to be synergistically tackle the environment of the next millennium.Speaking on `Linking HR with business strategies', Ramchandran emphasised the importance of Strategy in achieving business objectives. `A strategy should clearly define the Why, What, How When and Who for reaching the goal". As the competitior would alsos have a common goal, the success would depend on the effectiveness and innovativeness of the strategy one adopt, he added. Here Mr Ramachandran also cited the example of Philips Business Excellence model whichwas an analytical tool to evaluate the effectiveness of strategy. The highlight of the discussion was the inter-collegiate case study competition for the SIES-Indian Express trophy, which was won by Jamanlal Bajaj Institute of Management. Vivekananda Management College was placed second and Sydenham Management was placed third. Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.

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