March 17, 2017 - First Day of Management Conclave: - Things I Learned Today

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Sunday, 26 March 2017

March 17, 2017 - First Day of Management Conclave:

First Day of Management Conclave:

Things I Learned On March 17, 2017:-
1.       One minute can change a lot more than we can imagine. (P.S. Nitin Gupta Sir gave one duty and I got chance to learn a lot from Sarang Sir and Ajay Sharma Sir)
2.       Don’t be a log in a river, rather be a river. (Lesson Credits: Sarang Sir) (P.S> When I asked him to explain in detail, he gave the description in a very detailed manner.)
3.       Don’t let things happen to you, rather make things happen. (Lesson Credits: Ajay Sharma Sir) (P.S. Initially, I overheard them talking to other students and gradually made them talk to me only after the other students were gone.)
4.       Prepare as much as you can, before your performance. (Lesson Credits: Anup Srivastva Sir) (P.S. Sir was preparing for his Research Presentation in a very deep manner.)
5.       Silence can speak a lot about your message if you use it in a right manner. (Lesson Credits: Jasleen Kaur Mam)
6.       You must grab each and every opportunity as it comes. (Lesson Credits: Shubhraj)
7.       Never compromise with your self-respect. (Lesson Credits: Roktim Sir)
8.       If you are assigned with an opportunity, don’t let anyone influence your work.
9.       Keep your ears and eyes open when you do any research. (Lesson Credits: Nakshim Mam, a judge at Management Conclave)
10.   Learn from other countries and apply the knowledge in your own country. (Lesson Credits: Dr. Maninderjeet Singh)
11.   Be as much polite as possible. (Lesson Credits: Sanjay Modi Sir)
12.   Your competition prevails in every corner of the world. (Lesson Credits: Ashok Mittal Sir) (P.S. He shared an example of a normal shop, LPU, a placement drives, to explain us the concept of Global Competitiveness.
13.   Know what you say. Know what you do. (Lesson Credits: Mr. David)
14.   Truth lies beyond the structured research. (Lesson Credits: Mr. Rakesh Mohan Joshi)
15.   If everybody is going fast and you are still standing, it shows that you are walking backwards. (P.S. He shared one of the German sayings.)
16.   Focus more on quality, rather than cost. (P.S. Frugal Innovation Penal Discussion)

The day started normally until I reached LPU. First and foremost, when I was given duty by Nitin Gupta Sir, I got chance to learn from Sarang Sir and Ajay Sharma Sir. Later in the day, I heard from various Guest Speakers such as Mr. Pradeep Singh, Mr. David, Mr. Rakesh Mohan Joshi, etc.
Mr. Pradeep told us about the World Economic Forum, Global Competitive Index Report.
Mr. David shared some of the following major aspects:
1.       Build for the rich: Passe’?
2.       Trust your corporations.
3.       Trust your business leaders.
4.       Will the rich run or remain?
5.       Trust the media.
6.       Do people still trust the news?
7.       The main source of news in India? (Facebook and Twitter)
8.       Do people feel they are led well?
9.       Are the established strategies effective?
10.   Wheel or deal, or rules of steel?
11.   Is information the new labour?
12.   Is social capital the new capital?
13.   VCNP replacing the 4Ps for Success. (P.S. Voluntary, Contributions, Need Based, People’s Demand Based (VCND)
4 Change Sector:
1.       From ‘People Orientation’ to ‘Process Orientation’.
2.       From ‘One size fits all’ to ‘Mass Customization.
3.       From ‘One-time payment’ to Pay as you go’.
4.       From ‘Closed Enrollment’ to ‘Open Enrollment’.
Conclusion (P.S. Take away lessons by Mr. David)
1.       ‘Too big to fail’ can fail.
2.       ‘On demand economy’ uses free information.
3.       Managing networks is the new (Social) capital.
4.       Consensus replaces hierarchy/monopoly in leveraging networks and free data.
5.       Crowd funding replaces capital in production.
6.       The rules of engagement at BoP predominates.
Dr. Rakesh Mohan Joshi, Professor of Global Marketing:
When he was about to start his presentation, there were certain issues in Projector due to which he happened to give us a lesson, “You must not be over dependent on Technology.”
He taught us many new Portmanteau words, i.e. words formed by splitting and combing more than one word which are as follows:
1.       McDonaldization: The idea here, is that we are shifting towards eating too much Junk Food.
2.       Walmartization. (It changed the way we buy.)
3.       Coca-colanization. (It is equally a competitor of water)
In addition, he used one sentence, “Followers cannot be leaders”. I personally hold a different opinion on the same as I feel, “Followers are the future leaders.” Until and unless, we learn from other people, how can we learn to lead without any knowledge and expertise?
However, he shared a lot of wisdom, he also told us that the riches person in Britain was born in Rajasthan.
At the end, he shared some of the lessons from Bhagavad Gita which are as follows:
1.       You can upgrade yourself by your own self.
2.       Never degrade yourself.
3.       You are your best friend.
4.       You are your worst enemy.
Thank you for reading,
Rohit Sood.