Best of the August 2010 issue

S. K. Chaturvedi , Conference Chairman
Chairman & Managing Director, Powergrid Corporation of India

“Indian business houses need to re-look on the past practices and make for total overhaul of system procedures. With the opening of the economy, FDI is being encouraged for the acceleration of the economic environment of the country. And unless Indian industries change themselves, they will not be able to cope up with the advancements in technology, which these foreign organizations will bring with them. So it is time that we move to the next orbit and adopt the latest technology that will bring us at par with any global organization in terms of doing business.”

Dr. Pritam Singh, Conference Academic Director
Padmashri Professor of Eminence, MDI Gurgaon and Former Director IIM Lucknow and MDI

“Doing business has turned into an intense war zone. Companies don’t know where their enemies (competition) are hiding and when will they strike. To fight such wars, businesses now no longer need business managers, but business warriors who can identify potential enemies and proactively prepare for their strike. Therefore, the whole HR function needs to change if companies have to acquire business warriors. In such a business environment, while stagnation is considered death and moving live; only moving faster can be considered being alive for a business. And that’s why it is important to move toward the next orbit to keep yourself alive.”

N. S. Rajan, NHRDN National President
Partner, EMEIA, People & Organization Leader, Global Leader-HR
Advisory, Ernst & Young

“The financial markets have undergone a radical change amidst the current economic turmoil and this has led to far more due diligence since money has become tight and has put remuneration under spotlight. For companies to succeed in this new scenario, they will need to focus on using technology oriented services such as analytics based decision making to turn around their functioning; incorporate the need for protecting the environment by bringing Resource Efficiency Agenda into the boardrooms; overcome the talent challenges such as ageing population, vulnerable labour segments, executive pay, et al. derived from the workforce composition in each economy.”

S. Y. Siddiqui, NHRDN President - Northern Region
Managing Executive Officer-Administration (HR, Finance & IT), Maruti Suzuki

“What we’re experiencing now is a distinct change as part of the globalization process; we are seeing a change in the way businesses are done. So much so that the very definition of the term ‘competitive edge’ is no longer dependant on tangibles such as cost, technology, et al, but is shifting on intangibles like speed, customer responsiveness, employee capability and commitment, inspirational work culture, et al. So, it is time that companies focus on intangibles to build their competitive edge which primarily leads to the criticality of talent perspective, innovation driven work culture and the top leadership role.”

Suresh Tripathi, NHRDN President - Delhi & NCR Chapter
President – HR, SRF Limited

“Business environment is bound to be very different in coming years due to change in nature of all the stakeholders. Indicators are pointing to a major change in business, governance, society, people, values, et al. To succeed in that environment, we have to redefine management concepts, review business contours and recognize new paradigms of business. It is like moving from one orbit to another and that is why it is so important to understand what it is going to be as we move ‘Towards the Next Orbit’”.

Aquil Busrai, NHRDN Immediate Past National President
CEO, aquil busrai consulting

“An aspect that is compelling us to move toward the next orbit is that companies need to now ask their support functions to cope with uncertainties and proactively plan for it. It is time the HR Function makes itself obsolete and performs larger contributory roles toward the performance of the business. HR Managers need to move beyond just tracking attrition and retention figures and be equipped to take calculative steps in taking business decisions. HR Managers should develop holistic business mindsets and they should participate in environment scanning and know what the business trend is, what the competition is doing, what new technology is coming up and based on these scanning, make business decisions.”

P. V. Ramana Murthy
Vice President – Human Resources, Hindustan Coca Cola Beverages

“The boundaries of the global environment have been erased. The world is becoming smaller and smaller and the aspiration of the new age managers are becoming global in nature. Given this scenario, in the next orbit, there will exist a business environment, which will have no boundaries and people with greater intellectual capabilities will run the organizations. And to be prepared for such a new business environment, it is imperative that organizations should continuously and relentlessly brace themselves and its people to build such intellectual capabilities which will enable them to create winning organization.”

Dr. Y. V. Verma
Chief Operating Officer, LG India

“With the globalization taking place rapidly and the diffusion of technology and related R&D and knowledge, there is an unprecedented change in the current business scenario. The world has become a global village with the advancement of technology and rapid development. Factors such as enhanced knowledge base, increased competition and speedy growth across all sectors have ultimately led to the formulation of the theme ‘Towards the Next Orbit’. Presently, HR and Leadership is an integral part of an organization and Human Resources. However, going forward, Human Resources will be the key differentiator in businesses. The role of the HR will become very crucial in providing breakthrough solutions to organizations’ success.”

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Topics: C-Suite, Strategic HR, #ExpertViews

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