Business Excellence Summit 2019: Innovating Business

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Bhubaneswar: Xavier Institute of Management, Bhubaneswar is organizing the Business Excellence Summit from 13th to 15th September 2019. The theme of this grand summit is “Innovating Business”.

The inaugural ceremony was graced by the honourable chief guest, Shri Asit Kumar Tripathy, Chief Secretary, Government of Odisha, the guest speaker, Mr Anand Sen, President, TQM and Steel Business, Tata Steel, Fr. Antony Uvari S J., Vice-Chancellor, Xavier University, Fr. E.A. Augustine, Registrar, Xavier University and Dr. Shridhar Kumar Dash, Academic Dean, XIMB. The dignitaries inaugurated the event by lighting the ceremonial lamp. Mr Anjan Mohanty, General Secretary, Student Executive Council, XIMB felicitated the speakers and declared the summit open.

The inaugural speech was delivered by the chief guest Shri Asit Kumar Tripathy who addressed XIMB as the ‘Institute of Excellence’. Focusing on the theme of the summit, he mentioned that “Unless you have empathy for the people at the bottom of the pyramid, it doesn’t make good business sense.”

The guest speaker, Mr Anand Sen spoke what market leaders do in tough times that make them better than the rest. He elucidated the concept of Total Quality Management (TQM) and how the robust deployment of TQM through Policy Management, Daily Management and focused methodologies transformed Tata Steel’s business. He emphasized how important it is for organizations to focus not just on the profits, but to cater to the needs of all the stakeholders with a view on sustainable growth with a focus on Cross-Functional Management.

Mr Prithvijit Roy, Co-Founder and CEO of Bridge i2i Analytics Solution, was the man of the moment in the afternoon session. His dynamic personality lit up the stage through his out-of-the-box touchpoints on the theme “Business Transformation and Artificial Intelligence”. His multi-dimensional expertise across domains provided the budding managers with a prelude of things to come in the future.

The penultimate day of Business Excellence Summit witness a congregation of some erudite corporate minds.

It began with a panel discussion on “Invest, Innovate and Integrate” with Mr Saurav Mohanty, Co-Founder & CEO, CDS Development Centre LLP, Mr Aharnish Mishra, Co- Founder, BiziBean, Mr Sujit Panigrahi, Co-Founder and CEO, Sequioa Fitness and Sports Technology; Mr Naveen Kejriwal, General Manager Eastern India, and Overseas, Lenovo served as panelists for the session.

Mr Naveen Kejriwal, discussed how it is important to consider if the ideas are practical, radically new and sustainable. He also emphasized the significance of
creating core groups that must involve field people as well. Mr Sujit Panigrahi furthered the discussion and elucidated the importance of investing in human capital, collaborations, relationships, and intellectual property. He talked about building cohesive innovation architecture and agility. Mr Aharnish Mishra, advanced the discussion by focusing on how innovation is all about creating meaning for oneself. “Innovation is disrupting the curve and moving to a higher curve. Go bold, go big, and change your curve”. Mr Saurav K Mohanty, stated that the only person who could ensure direct rewards and sustainability is us, hence one must invest in oneself. “The purpose of innovation is to simplify the tasks and believe that it would make things happen”.

This was followed by an interactive session where the inquisitive students posed thought-provoking questions to the panelists.

The second half of the summit began with a panel discussion on the theme “Glocalization in business”. The moderator for the discussion, Prof Santosh Kumar Prusty opened the floor for discussion by stating that “Glocalization requires globalization”. 

Mrs Prativa Mohapatra, Vice President – Sales, IBM, spoke about how businesses today have various facets, mainly globalization, glocalization, extreme glocalization, personalization and even reverse globalization and how these facets are visible in the culture, values and even attire of the business. 

Mr Binny Mathews, Vice President and Business Head – Utilities, Resources and Energy Sector, Infosys, spoke about how glocalization is an age-old concept and described real-time business scenarios that exhibit how global traditions and products are localized to suit the needs of the people.

Mr Debabrat Mishra, Partner at Deloitte emphasized the significance of imbibing a global mindset to survive in the ever-changing business world.

Mr Ashesh Kumar, Head- Analytics of L&T financial services spoke about delivering value proposition through analytics during a simultaneous Leadership Talk.

Day 3 of the summit, began with a panel discussion on the theme “Is Disruptive Innovation the Only Way to Create Value?”

Mr Stalin Mohapatra, Community Operations Manager and Head of Manual Fraud Investigations at UBER, Mr Kamadeba Mohanty, Executive Vice President and COO at Reliance Retail and Mr Harshit Vyas, Vice President at OYO Rooms, served as panelists for the session.

Mr Stalin Mohapatra, the first speaker of the day discussed the various types of innovations. He also focused on how revolutionary innovation transitions into disruptive innovation and how it accentuates the “High 5” policy responsible for Disruptive Innovation.

Mr Kamadeba Mohanty carried the baton of the discussion forward, where he spoke about the significance of creating businesses and retail stores that are closer to the hearts of customers. He gave us insights on how process innovation has brought about a change in the retail industry. “Developing price point should be as such that every customer is excited to buy the product”.

Mr Harshit Vyas, enunciated the challenges faced during scaling up a business. He mentioned how a fast-moving scaling-up process poses hurdles in maintaining sustainability and delivery of good quality services. He concluded by saying, “To disrupt, you need to have an open culture as well as the will to perform in a highly growth-driven organization”.

This was followed by an interactive session where inquisitive students posed thought-provoking questions for the panelists.

During a simultaneous Leadership Talk delivered by Mr Yeshwanth Nag, the co-founder of Thickshake Factory, he narrated an engrossing tale of his journey from an employee to an entrepreneur. He emphasized the importance of having an entrepreneurial mindset irrespective of one’s profession. One of his key advice was to observe one’s competitor, analyze the gap and then try filling the said gap. He concluded by saying “Making a big change in life is pretty scary but what’s scarier is regret”.

The next theme for the day was “How to Tame Automation Sprawl?”. Mr Sabyasachi Das, Director, Product Engineering & Digital Transformation Centers- Workplace and Mobility, DXC Technologies enlightened the students and mentioned,”No tool is perfect. No tool will ever be. But it is this gap that leads to automation sprawl”.

In the session with Mr Siddhartha Dash, EVP and Country Head for PSU Clients at UTI Mutual Funds, he spoke on the theme “Invest. Innovate. Integrate” where he stated, “Innovation is so much more than products, it is about relevance and acceptance”.