Being one-dimensional means no depth or scope, but with a degree as broad as an MBA, it’s perfectly possible.
A few weeks ago, as I sat down to write this speech, I reached out to a number of my former colleagues and asked them, “What would change if they had an MBA now?” I was. We got a lot of input.
Let’s start with the origins of the MBA degree. Before my MBA degree, I had the concept of an “apprenticeship”. In a way, his first MBA degree was offered in 1819 in Paris, the predecessor of his current ESCP business school. The Wharton School offered him a BA in Finance in 1881. Harvard University, as it is known today, offered him his MBA in 1908 and earned it in 80. student. Harvard University felt the need for this degree, with the rapid mechanization of factories, and the need for a new type of manager who thinks about efficiency. His MBA syllabus in his early years at Harvard drew on the work of Frederick He Taylor, a leading authority on human and machine efficiency. At the time, efficiency was a management mantra, and most managers enjoyed it. Europe offered the first full MBA program in 1957.
Women were not admitted to Harvard’s MBA program until 1959, but Inseed began admitting women in 1967. I am really pleased that her 46 percent of IIM Nagpur students are women.
I would like you to spend the next two years with the following five points in mind.
You have to be tech savvy in whatever you do. This is a “must have” difficult skill. You can call it Generative AI, ML, Deep Tech, Digital, etc. You simply have to be good at it. If you are not proficient in technology, you will fail. The World Economic Forum released some figures a few weeks ago. 25% of the jobs that exist today will be reshaped. They either disappear or are replaced by technology. 45% of your current skillset needs to change. The problem with technology is that it constantly needs to update itself. Technology is inherently self-enlightening.
As an example of today’s digital self-education, look at the average Indian household. The average Indian household is more digitally savvy than the average business. Indian families study online, shop online, have fun online, check their health care online, and more. This has happened in the last ten years. India will be at the forefront of digital innovation in her decade, so it needs to keep pace and lead in digital innovation.
The world is full of technology, but it is not a world of mechanical or one-dimensional technology. The more hard skills available through technology, the more soft skills you need. To be successful, you need to excel in soft skills. In the pandemic, everything has become remote. Remote work has many benefits, but it has come to be recognized that the 3 C’s are a concern in remote work, and all 3 C’s are important soft skills.
* concentration
*Collaboration and
* Creativity
Add to this a fourth C, communication.
Communication is very important. I attend a lot of calls and listen to a lot of calls. I’ve noticed people starting to speak faster and louder on web calls. Listening skills are declining on web calls. Without good communication, nothing can be achieved.
One of the jobs you do is project work. If you really want to work well with different types of people, I recommend changing project groups by subject/project. This gives you the opportunity to work with as many students as possible among your 260 classmates. The worst thing you can do is work in the same known group of projects. Therefore, do not have one-dimensional project group members.
Next, try working on a real project where what you discover and recommend is very important to the company. Avoid desk research projects. Live projects are where your concepts are tested and put into action.
3. As a next point, I would like to add two concepts: network and DEI, namely diversity, equity and inclusion. Networking is good and always helps in the long run. It’s the strength of your network, not your degree or grades, that will propel your career forward.
Rethink your network from day one. Your network can be your classmates, seniors, teachers, visiting faculty, corporate live project guides, and more. The idea that networking is evil in some areas is completely false. Build a good network.
The key to building a network on your stage is to keep in touch with people, to be responsive, and to be curious. Networks work in reciprocity, give and take. I have always seen the most successful people give more than they receive. Of course, there are those who are just takers, but they don’t get enough goodwill within the ecosystem. Be multifaceted – give more and receive more.
Many experienced HR managers confuse diversity as a primary indicator of inclusion. That’s totally wrong. In fact, inclusion is the main indicator of diversity. Diversity ratios can be fooled, but comprehensive soft measures and sentiments cannot.
Take this IIM-N batch as an example. Diverse. 46 percent are women, 57 percent have previous work experience, come from a variety of industry backgrounds, and come from different parts of the country. These stats don’t make you an inclusive group. It is necessary to work on it.
There is diversity in this batch and fairness in the sense of the course. What I really want you to pay attention to is the inclusion. In the world of social media, we have compartmentalized everything into people who are like us and those who are not. Successful leaders are more inclusive than unsuccessful leaders. To participate in class debates, it’s important to listen to different points of view and acknowledge good points. Inclusion, of course, means giving credit. Inclusion can seem difficult in an on-campus “grades rush” environment, but trust me, inclusive students do well. Sharing for me is a big first step towards inclusion. The more you share what you have in knowledge and insight, the more you get. Sharing makes you multidimensional.
As students we tend to see professors as enemies. Couldn’t be more wrong. It is recommended that he spends at least an hour each day chatting with an available faculty member. Learn from their experiences and experiences and volunteer in research projects. Teachers are often life coaches. I am still in touch with Prof. Sudhas Roy and Prof. Ramanuj Majumudar, and when I took Unilever’s General Manager Course, I chose Prof. Ram Charan as my life mentor. In my career, I’ve seen professors tend to see the MBA assembly line every year, and they have their own way of sifting out who they think would make a difference. I have found that they have good judgment in judging possibilities.
4. You will be doing internships in India and abroad. Think carefully about this internship because today companies are looking to convert an internship to his PPO. Consider a good internship as a first step. Do not treat your internship as a 60-day stay. Treat each day as 60 opportunities to make an impression. When companies hire interns, they want to see the right attitude towards work, problem solving, and an inherent work ethic. Collect as many sponsors as possible during your internship. If you consider an internship to be the last paid job you can do, you would treat it differently.
5. ESG has become an important issue for society. Technologies like ESG will be a horizontal function for all companies, so we will cover some themes in this area. In other words, it is a function that spans all functions. The good voice of the people is essential for the continuation of the business. Trust is multifaceted and comes from delivering on promises to all stakeholders.
India introduced BRSR (Corporate Responsibility and Sustainability Reporting) for top 1,000 companies this year. India is one of the first countries to do this. There is a shortage of talent in this area at the moment, and the expertise here will help your career. ESG is about how a company’s activities affect its stakeholders, and society is a big art. After the global financial crisis, a Harvard student created his MBA manifesto. Unfortunately, nothing came out of it. In my opinion, if a company adheres to an ESG manifesto, it doesn’t need an MBA manifesto.
All kinds of companies in all industries are working on ESG solutions. Participate as a volunteer in any work in the area.
I would like to think about the world in 2025 when I graduate with an MBA degree.
India is the fifth largest economy in the world. For most of its existence as a free state, India had soft power, but now it also has hard power. This combination is rare, and only the United States has had both for many years. Your generation will be world class managers. This unique combination of India will give your career a boost.
My career is a marathon, but I run in short sprints over several years. People used to think about companies and decide to stay. That model no longer works.
Staying in one company and one industry is the surest way to hinder intellectual growth. it is one dimensional. Your generation will have multiple professions, multiple industries, and multiple companies. It will be a short burst in each company and industry. There is no need to be ashamed of this as long as you do your best for the company while you are here. Loyalty as a concept is dead, and the pandemic killed it faster. If loyalty is dead and you can probably play 15 roles in the future, this should give you the courage to be intellectually honest.
If you challenge a better system and speak the truth to those in power, you have nothing to lose and all to gain. To be intellectually honest, you have to be good at what you do. A coward cannot be honest.
An MBA from IIM is an honor and a guarantee of respect. But it’s only a degree, and by itself has little long-term effect.
You can work for a company, or you can set up a company. Don’t lose sight of yourself as an entrepreneur. Entrepreneurs do more for the economy and the country than a paid executive does. I hope that some of you will become successful entrepreneurs.
Success and failure are part of life, so learn to resilience. Think of your career as a short-term achievement/success before moving on. People tend to avoid hard jobs and people want easy roles. Hard work is a privilege that tests your limits.
60% of students pursue an MBA to improve their financial situation. You are here because you are doing well. Many people have contributed to your being here. Don’t take that support for granted, whether it’s from a parent, teacher, or friend.
*Money is a one-dimensional variable.
* Popularity is a one-dimensional variable
* Jealousy is a one-dimensional variable
* Contribution is a multidimensional variable.
* Trust is a multidimensional variable.
Contribute, evolve and grow. Adapting to the situation is critical to overall success. Measure your success by how many people and organizations you help. Respect from your peers is the ultimate respect you can earn in a long career. Let me explain with an example.
I don’t know how many people saw Federer’s last match. It was amazing to see his long-time rival Nadal cry when he left. There was similar respect among Bjorn Borg, John McEnroe and Jimmy Connors.
In pursuing your career, don’t give up on life. Simply put, life is the sum of the hobbies you have and enjoy. Hobbies can be anything from sports, reading, writing, acting, music, or teaching. Never think that you don’t have time to pursue your hobbies. If you have time to pursue your career, you should also have time for your hobbies.
At any time, at any level, success can lead to isolation. When you succeed, people put you on a pedestal and when you fail they distance themselves. The interesting thing about success and failure is that they both have something in common. In other words, they are isolated. As you experience successes and failures, you become multidimensional.
One last thought, I would like to leave the institute, director, and faculty. Everyone encourages you to become a lifelong learner. Everyone understands this intellectually, but few are lifelong learners. I have radical thoughts. The pace of knowledge, the pace of transformation, the pace of change is immense.
Many professions require ongoing recertification. Pilots have to renew their licenses every six months or a year, and sight is especially important. Why shouldn’t the management degree he recertify every 10 years so that we can stay relevant and contribute and prevent the MBA from becoming one sided .
Whatever you do, don’t be one-dimensional, be multi-dimensional, be an all-rounder.
(Shiv Shivakumar is an operating partner of Advent International)
