ASBM International Management Convention, 2013 concludes
A three-day long International Management Convention (IMC’ 13), on “Inclusive Growth: Need to Rethink the Business Models”, was held at Asian School of Business Management Campus from 7th-9th February.
Inaugurating the event, Chief Guest Prof. M. J. Xavier, Director, IIM Ranchi, said, “Management education in India is an exclusive model but not an inclusive one.” Management students should have the urge to work for Social Responsibility causes, he said.Guest of Honour on the occasion, Mr. Somasajeevan T.K., Executive Vice President – HR, Manappuram Finance Ltd said,” Inclusive happiness brings inclusive growth. India has the potential to be a leading nation across the world. But it requires a sustainable business model all along.”
Prof. Biswajeet Pattanayak, founder and director ASBM, while introducing the theme, spoke about the key hindrances that spell doom in the way of inclusive growth such as dismal spending especially on sectors like health & education, lack of focus on elementary education, non-subsidizing of higher education etc. Among the developing nations and also as compared to the BRICS countries, India fared poorly when it comes to the spending on these two sectors, the director said. This is evident as a meager spending of 1% of GDP is spent on healthcare and public health sector and 3.5% of GDP in educational sector, the Director said.
Also he threw light on the ‘Financial Inclusion’ aspect where 43% of the country’s population are still deprived of banking services and 90% of the villages not having banking branches in their locality. Similarly, the agriculture sector, considered as a priority sector in banking parlance, and the backbone of the country’s economy is the most neglected, Prof. Pattanayak added.
Social Justice, Gender inequality and women empowerment are other vital issues to be dealt with by the Govt. more cautiously, he said. This apart, investment in PPP mode should also be encouraged, said the director.
Presiding as Chief Guest on the valedictory day of the convention, Mr. S.C. Padhy, Director-HR, Nalco said, “To attain inclusive growth, corporate should not have Profit maximization as the sole objective; rather it should be 3 ‘P’s i.e. People, Planet and Profit.” Also they should carry out CSR activities for social upliftment as a part of inclusive growth.
“Suitable Govt. policy need to be put in place for poverty alleviation, creation of more employment opportunities, providing quality education & health for the poor, besides focus on agricultural growth, technological innovation and adhering to pollution control measures etc.,” said, Mr Padhy.
Guest of Eminence on the occasion, Mr. V. Seetaramaiah, Group CIO and VP (IT), Paradeep Phospates Ltd.said, “To have growth imperative, it needs to be inclusive.” Innovative Business Models with managing the entire Supply Chain (which includes agency, customer and supplier) need to be there for Inclusive growth to happen.
The International Management convention also comprised of 4 technical sessions on HR Initiatives, Financial Initiatives, Marketing Initiatives and Technology Initiatives. Around 40 research scholars presented their papers on various topics. Delegates from various Corporate and academic institutions participated in this 3 day event.
A book on “Inclusive Growth: Need to Rethink the Business Models”, published by international publication house Bloomsbury was released on the occasion. Also a Souvenir was released on the occasion of this convention.