Embrace change in business and technology, don’t resist it: Nandan Nilekani @ IIM Bangalore
Infosys co-founder Nandan Nilekani addressed the 41st Convocation ceremony at Indian Institute of Management (IIM) Bangalore on March 24, 2016. The first generation start-up entrepreneur, who also led the Unique Identification Authority of India (UIDAI) to become the chief architect of Aadhaar, said at the convocation ceremony that technologies are disrupting the way businesses are done and the new generation of business leaders and managers need to embrace the changes along their career ahead.
“The first quality required is the ability to embrace change, not to resist it. In fact being proactive with dealing with the rapid developments and disruption is a less risky option to resisting or stalling the change we need to do,” he exhorted the IIMB students. Mr. Nilekani’s brainchild Aadhaar provides a simple yet transformational solution to the monumental challenge of delivering government benefits and services in a very equitable, transparent and fair manner to every citizen
Careers360 brings you full speech of Nandan Nilekani at IIM Bangalore:
Thanks to the rapid changes being brought by technology, the world is facing an era of great disruption. This is pervasive and goes far beyond the industries that we had expected to be disrupted. Initially business that could go digital were transformed. So books, music, video, photographs all went digital and ultimately were available on hand-held devices. Then we had digital business that provided an alternate model of delivery. So e-commerce was an alternative way to supplying through a physical store, and search and social media was an alternative way to reach advertisements to consumers instead of using classifieds in newspapers or TV ads.
Today however, we are in the era of reimagining entire business models with technology. An Uber or Ola is reimagining the way we provide urban mobility. An Airbnb is able to create the world’s largest hotel chain, without owning a single room. An entire bank can be created, which does all banking transactions, be it opening an account, making a payment or getting a loan, on a smartphone, with no branches and few employees. Fracking, horizontal drilling and data analytics disrupted the oil and gas business, creating new sources of energy and new techniques of extraction which have upended the hydrocarbon industry. The combination of electric cars, driverless cars and shared urban mobility will have huge consequences for the automobile industry.
What does all this mean for you as you set forth in the world as leaders, entrepreneurs and managers?
The first quality required is the ability to embrace change, not to resist it. In fact being proactive with dealing with the rapid developments and disruption is a less risky option to resisting or stalling the change we need to do.
The second is being able to move quickly and get first-mover advantage. The rapidity at which network effects kick in once a new business model takes off, and the winner takes all nature of digital-based markets, means that speed is of the essence.
The third is to imagine business at scale. This requires looking at every aspect of the business model and removing bottlenecks, as your scale up will be constrained by the weakest link. This requires changing the mindset from low volume, high cost and high transaction value, to high volume, low cost and low transaction value.
The fourth is to recognize that moats that guard a business have changed. In the past commanding the distribution channel, like having a lot of retail outlets or branches, or owning the printing press that delivered newspapers, gave you a moat. Today’s moat come from having millions of customers and the strength of your network. The smartphone has become the ultimate distribution channel, and a high engagement app on a smartphone can be a very strong moat.
The fifth is to have a deep understanding of technological trends and their implications. This is irrespective of whether you are entering the finance, retail, manufacturing or any other sector and certainly if you are becoming an entrepreneur or consultant.
The sixth is to be able to use vast amounts of data and analysis, synthesize and gain insights from it. And then apply algorithms to the data to provide business services, be it automated lending or the best recommendations. As India goes from being data poor to data rich in the next 3-5 years, mastering data will be of the essence.
The seventh is to seize any opportunity that arises from a rapidly shifting environment. WhatsApp was such a success because they saw the importance of messaging in a world moving from voice to data, from desktop to mobile, from feature phone to smartphone and from Value Added Services (VAS) to Over the Top (OTT) applications. The opportunity was seized not by a telecom or internet giant but by a start-up.
The eighth is you have to think platforms, not pipes. One of your own alumni, Sangeet Paul Chowdary, wrote in his excellent book, called ‘Platform Scale’ about how ‘platform’ business models are disrupting traditional ‘pipe’ business models which have a linear flow of value, like water in a pipe, where value is created upstream and consumed downstream. Platform business models, on the other hand, allow users to interact with each other and create and consume value. Sangeet talks about the three forces of connectedness, decentralized production and artificial intelligence as accelerating the rise of platform business models.
The natures of large businesses are changing from large employee-based conglomerates to a model where large businesses are aggregating smaller businesses on their platforms. This means millions of even smaller businesses will flourish due to entrepreneurship but will become part of many large business platforms (like small hotels becoming part of Airbnb). This collaborative model of building large companies by partnering with 1000's of smaller companies is not how traditionally large businesses were built.
So you have to build small flexible networked organizations and not large monolithic ones. We are witnessing a shift of paradigms - from complication to complexity: an aircraft engine is complicated to build, but any living organism’s interactions and behaviors with its ecosystem are complex. In a world that is becoming ever more complex, apparently unconnected forces are interacting with each other to create unexpected domino effects. These can only be explained but not predicted with any confidence. Organizations and their leaders need to gear up to handle the complexity of today’s business and social environments.
In India, thanks to some unique infrastructure like JAM (Jan Dhan Bank Accounts, Aadhaar and Mobile) and the India Stack built on it, which is a set of programming interfaces that enable paperless, presence-less and cashless transactions, we have the best environment for a mass flourishing of innovation. You are entering the world at the most exciting time in our history. Go for it!
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Questions related to IIM Bangalore
What should I fill in "year of passing" in 12th field in CAT form 2020 if I passed 12th in 2016 and appeared for Improvement in all subjects in 2017 ? Also I have improved my percentage so which marks should I enter? Please Help. Remember I passed all my subjects in 2016.
It is a tricky situation but the answer is simple. You passed the senior secondary exam in the year of 2016 so you should mention 2016 as the year of passing. You are saying that you secured more percentage in improvement, then you can mention the improved grades in the form. But at the time of interviews, you will have to carry both the marksheets . Only The one with the more percentage , shall be considered valid. Which is the improved one in your case.
And lastly, dont worry . This does not affect the admission criteria .As long as you have cracked the entrance exam and proved your caliber for the respective exam, you are pretty much good to go.
i got 61.69%in 12th HSC,93.6% in 10th ,8.7 CGPA in BE,can i apply for cat and if got good percentile..can i get a call from iimb or iimc?
Usually MBA aspirant thinks that good CAT score is enough to get a call from IIM, but the reality is call from IIM does not only depend upon the CAT score but also depends upon the overall academic performance and WAT/GD rounds. Some IIM's give preference to work experience or UG streams so its totally upon them but only CAT score is not enough to get a call from them.
I hope this will help you.
63/64/62 percentage in 10th/12th/graduation. category sc currently working as bank clerk in sbi total work experience to date is 26 months. what cat score is needed to get a call from IIM Ahmedabad, IIM Bangalore and Calcutta.
Sorry for that but your academics are pretty low. But belonging to a SC category might fetch you a chance to get a call from IIM A, B, C. All IIMs have different parameters and the weightage of these parameters also differs from college to college.
I will advise you to personally visit the official website of these college and look for the last year cut offs as well as their criteria of admission. Scoring above 97% percentile will be a pretty decent score and can help you to some extent in getting a call from either of the college.
All the very best.
my 10th percentage is 55 12th is 67 & UG(BCA) is 70 Can I do an MBA in IIM, Bangalore? my category is creamy layer OBC
Dear Aspirants ,
No, you will not eligible for IIM Bangalore because you dont have work experience after complete your graduation. IIM Bangalore having some criteria to take admission, such as Bachelor's degree (minimum 50%) in any discipline as per the 10+2+3 norms with Minimum 4 years work experience in any industry after the Bachelor’s degree.
Selection processes of IIM Bangalore
- Submission of application with one of the following tests: CAT / GRE / GMAT/ IIMB Test
- Followed by personal interview and written ability test for shortlisted candidates.
- Short listing for interview based on performance in CAT / GMAT / GRE / IIMB Test, prior academic performance, and duration of work experience
- Final selection is based on prior academic performance, duration of work experience, quality of work experience, and performance in the interview and the Writing Ability Test
Apart from that i have shared a link with you where you will get all information regarding eligibility ,admission procedure and many of IIM Bangalore and you can refer it .
Hope it will helpful
Do people who have less than 90 percent in 12th get admitted in IIM Bangalore? If anyone could please guide. Regards, Snehansh
Yes they have! What matters the most is your overall profile not one or two features of it. There is no bar that people with less than 90% marks can not be admitted. It only depends on how much you are able to impress them with your overall profile. Try to highlight your work experience if any. It will benefit immensely. Interviewers need to see that seal within you to excel.