Future of Globalization: Integration and Competitiveness

Prof.-Rupa-Chanda

Rupa Chanda
Economics & Social Sciences
Professor
RBI Chair in Economics
IIMB

To coincide with the fifth anniversary of the Global Network for Advanced Management in April 2017,Global Network Perspectives asked faculty across the 29 schools in the network: “What do you think the future of globalization looks like? How will this affect the economy in your country or region? How is your school preparing students for this world?” On April 20, in a session at the Global Network for Advanced Management Fifth Anniversary Symposium, a panel of experts, including former U.S. Secretary of State John Kerry, will lead a discussion of the future of globalization and the implications for business and management education. Watch the discussion live.

What do you think the future of globalization looks like?

Is globalization on the retreat? Brexit, Donald Trump’s election, and the resurgence of right-wing, nationalist parties around the world have made us question our earlier optimism about the future of an open global economic order. A critical reevaluation of what globalization has delivered and how it has been managed is certainly warranted. In my view, however, globalization will endure, though at a more moderate pace and in a more uncertain and volatile manner, where we alternate between periods of globalization and de-globalization—much as in a business cycle with its peaks and troughs. The two currents may also at times run together, and the friction between growing cross-border activities which require global governance frameworks and national political systems which wish to preserve their sovereignty will only grow.

This view of an alternating and at times co-existing form of globalization is based on two factors—technology and demographics—which I believe will be the key drivers shaping our world in the future, and which are irreversible. Both these forces inherently contain within themselves the seeds of both globalization and de-globalization. While technology will continue to spur the dispersion of production of goods, services, and ideas across geographies and further the growth of global value chains, it will simultaneously also act as a disruptive force within and across countries by accelerating changes in the methods of production, delivery, ideation, and the associated distribution of economic and social benefits.

Likewise, while demographic imbalances across countries—with the associated implications for wages, production costs, and comparative advantage, will continue to spur outsourcing, foreign direct investment and the international mobility of students and workers—they will simultaneously sow the seeds of protectionism, nationalism, anti-immigration sentiments, and xenophobia, and pose threats to national security and culture. Demographics are also likely to result in a longer-term slowdown in growth and productivity in some parts of the world, thus altering the economic balance across countries and creating heighted concerns over the loss of economic and political supremacy.

How will this affect the economy in your country or region?

India stands to be adversely affected by the current wave of protectionism and anti-immigration, especially at a time when it is focusing on enhancing participation in global production networks, improving its business environment, and skilling its manpower to realize its demographic dividend and tap the opportunities thrown up by the global market. Although India is less integrated than many other countries in the region and thus may not be as adversely affected by de-globalization as others, it still needs an open global economic order in terms of movement of goods, capital, technology, ideas, and people to sustain and improve its growth prospects. Recent developments such as the stricter conditions on skilled immigration visas in the U.S. or the U.S. trade review, which targets countries like India on issues of intellectual property, state subsidies and tariff and non-tariff barriers are of concern to major sectors of the Indian economy.

Such developments may give rise to two possibilities. On one hand, they may lead Indian companies to re-examine existing strategies and consider new markets and business models and the Indian government to re-examine some of its distortive practices, focus more on competitiveness, and give a renewed thrust to multilateral, regional, and bilateral discussions. On the other hand, such global currents may lead to more calls for protectionism, retaliation, and incentive-based policy support for industry in India. Most likely, mirroring the global trends, both of these dynamics will play out in India as well, depending on the sectors and issues concerned. The challenge for Indian business and the Indian government will be to continue with recent efforts toward integration and global competitiveness, against the current headwinds of de-globalization.

How is your school preparing students for this world?

Recognizing the importance for any manager of understanding and confronting global issues and challenges, the Indian Institute of Management Bangalore has been making concerted efforts to provide its students, across all programs, with global exposure. IIMB has an exchange program that enables students to spend one term learning at foreign partner institutions in Europe and the U.S., and also brings foreign students from these partner schools to our campus. There are courses such as Business Planning for International Markets which provide IIMB students with an opportunity to spend some time in countries such as China, the UAE, Singapore, Israel, Vietnam, and Japan, and to work on projects targeted to those markets.

There are also global immersion modules with partner institutions in Asia, Europe, and the U.S., where students learn from policymakers, industry chambers, and overseas businesses. Students participate in global case and writing competitions where they confront issues of global concern. They intern with global Indian and foreign companies and get exposure to their global strategies and practices. There are courses which specifically address themes such as cross-cultural management and international business strategies, as well as courses which highlight the current economic scenario and provide perspectives on global developments and their impact on global and Indian businesses. The objective of all these efforts is to make our students capable of operating across cultural, economic, and geographic boundaries so that they can become effective and sensitive managers and global citizens.

Article Published @ Future of Globalization: Integration and Competitiveness

Advertisements

2 PGPEM students, from IIMB, work with AP Govt. on IPR framework to strengthen its Innovation & Start-up Policy

AnithaJyothi_pgpem2016_Pic.jpg

Mentored by Prof. A Damodaran, Anitha Botta and Jyothi Ganiger, from the PGPEM Class of 2016, are working on ways to safeguard innovators’ ideas, open up new revenue streams, create job opportunities and contribute to economic growth.

17 April 2017, Bengaluru: Two students from IIM Bangalore’s Post Graduate Programme in Enterprise Management (PGPEM) Class of 2016, Anitha Botta and Jyothi Ganiger, have begun a project with the Government of Andhra Pradesh in the area of IPR in order to further strengthen the existing Innovation and Start-up policy in the state of Andhra Pradesh.

As part of their course at IIM Bangalore, Anitha and Jyothi had made a detailed study of the existing AP Innovation & Start-up Policy 2014-2020. They then made a proposal to the Andhra Pradesh government, expressing their interest to work on the identified gaps in the existing policy such as connecting the existing AP Innovation & Start-up Policy to an IPR system, addressing funding of start-ups and entrepreneurs in particular at seed and early stages, and a roadmap for innovation.

Anitha and Jyothi went on to have a meeting with P. Pradyumna, IAS (2004), Joint Secretary to the Chief Minister of Andhra Pradesh, and K. Vijayanand, IAS, Joint Secretary for Information & Technology Electronics & Communication, Govt. of Andhra Pradesh, where they explained why it was necessary to address the identified gaps and how it could help the State and the innovation ecosystem.

They have now got cracking on a 4-month project on connecting the existing AP Innovation & Start-up Policy 2014-2020 with a new IPR framework, under the guidance of Professor A Damodaran, IPR Chair on IP Management (MHRD) at IIMB and faculty in the Economics & Social Sciences area.

We were interested in Innovation and Intellectual Property Rights. We were aware that the Government of Andhra Pradesh is aggressive in promoting start-ups and innovation,” said Jyothi.

Anitha further explained, “We made a study of the current AP Innovation and Start-up Policy 2014-2020, and identified that Intellectual Property Rights were not being addressed fully. IPR not only safeguards innovators’ ideas, but also opens up new revenue streams, creates job opportunities and contributes to economic growth. National IPR policy alone will not suffice and it is important to have a solid IPR framework as part of every state innovation and start-up policy.”

Jyothi and Anitha submitted a proposal to include an IPR framework to the existing AP Innovation & Start-up Policy 2014-2020 that could enhance the destination advantage of AP state and support MSMEs to innovate and develop their IPs through the process of commercialization. “The proposal was appreciated, accepted and we are now working on the project. Our final report should be ready in four months,” added Anitha.

Visit @ IIM Bangalore

IIMB welcomes 78 students to the two-year Post Graduate Programme in Enterprise Management (PGPEM) on April 08, 2017

IMG_8173 (1).jpg

Photo Gallery: PGPEM 2017-19 Inauguration

Lamp 2_0

Prof. G Raghuram, Director, IIMB, lights the ceremonial lamp to inaugurate Post Graduate Programme in Enterprise Management (PGPEM) batch 2017-19 on April 8, 2017. (L-R) Vinay and Puneet Khurana; PGPEM 2017-19; Prof. G Raghuram; Debahuty, PGPEM 2017-19; Ramya Tarakad Venkateswaran, PGSEM Alumna & Faculty, IIM Calcutta; Dr. Seema Gupta, Chairperson, PGPEM, IIMB.

Prof. Seema Gupta_1

Dr. Seema Gupta, Chairperson, PGPEM, IIMB, welcomes the incoming students.

Dr. Ramya TV 2

Ramya Tarakad Venkateswaran, PGSEM Alumna & Faculty, IIM Calcutta, delivers the inaugural address.

Prof. G Raghuram.jpg

Prof. G Raghuram, Director, IIMB, shares his insights about industry needs and the programme.

Prof. Sourav Mukherjee j 1.jpg

Prof. Sourav Mukherjee, Dean of Academic Programmes, IIMB, gives an overview of the programme and life at IIM Bangalore.

IMG_8027

The PGPEM Batch of 2017-19.

Visit @ IIM Bangalore

IIMB Alumni Association presents 2nd edition of Saturday Musings on February 25, 2017

iimb_2

Talk by Prof. Sai Yayavaram, Chairperson, Corporate Strategy and Policy, IIM Bangalore, ‘Innovation in India: Opportunities and Challenges’.

Panel discuss on Innovation in the FMCG Sector: Nirupama Kaushik (PGP 1991), Brandscapes, Sanjay Singhal (PGP 1995), COO, ITC Dairy and Beverages, and Kapil Khamboj (PGP 1999), Vice President, Johnson & Johnson.

Date: 25th February,2017
Time: 10:30 am -12:30 pm
Venue: IIMB Auditorium

Visit @ IIM Bangalore

IIM Bangalore to host visionary leadership summit ‘Re-launch India’ on Feb 11

vls.png

The summit, to be inaugurated by IT & BT and Tourism Minister Priyank Kharge, will feature senior corporate captains and leading start-up protagonists, who will deliberate on steps to be taken to launch India in the global arena as a manufacturing, start-up and digital power

07 February 2017, Bengaluru: Indian Institute of Management Bangalore will host a visionary leadership summit, ‘Re-launch India’, on 11th February (Saturday) 2017, at the IIMB auditorium. The IT & BT and Tourism Minister, Government of Karnataka, Priyank Kharge, will inaugurate the summit. Satheesh Reddy, Scientific Advisor, Govt. of India, will deliver the keynote address.

Set up as an envisioning exercise, the summit, organized by students of the Post Graduate Programme in Enterprise Management (PGPEM) at IIM Bangalore, will deliberate on the steps to be taken to launch India in the global arena in areas such as manufacturing, start-up and digital power, based on innovative technologies and business capabilities.

The meet will feature senior corporate captains and leading start-up protagonists sharing their experiences and vision on the theme. The inaugural session on ‘Re-launch India as the new Global Leader’, will be followed by the special plenary session ‘Realizing our New Age Manufacturing Capabilities’, featuring Phil Shaw CEO, Lockheed Martin Pvt. Limited, Srivats Ram, MD, Wheels India Ltd., Brian Mcmurray, VP, General Motors, Patrick Fardeau, VP, Dassault Systems, Rajeev Kaul, Group CFO and Managing Director, Aequs, and Ranjini Manian, CEO, Global Adjustments. The afternoon session on ‘Realizing India’s Potential as a Digital Power’ will feature Kedar Apshankar, Dy. CEO, ABOF, Reena Dayal, Microsoft, Samson Khaou, MD, Dassault Systems India, Ajit Kumar, MD, Deloitte Digital, Ganesh Natarajan, Chairman, NASSCOM Foundation, Saurabh Chandra, Head of Apps (Digital) and IT (Myntra & FlipKart Group).

Against the backdrop of the surge in emphasis on manufacturing, digitalization and start-ups, the larger issue is how fast and how far and in what manner India can attain its status as a ‘transformed global power’ that provides a new sense of empowerment not only for its citizens but also for the larger world community. The summit seeks to address the following themes: India as a civilizational power, India as a global digital power, India as a new age manufacturing giant and India as the cradle of new innovative start-ups.

The day’s events will draw to a close with a summary of the discussions by a team of Post Graduate Programme in Enterprise Management (PGPEM) students at IIMB.

For registration visit: http://bit.ly/2k6LEwT

Click here for the brochure

Visit @ IIM Bangalore

NSRCEL Social to present talk on ‘Building Bridges – Social and Capital’ on Feb 8

NSRCEL 12.jpg

Nobel Laureate Prof Muhammad Yunus will talk about building and scaling social businesses and the dwindling boundaries between social and business aspects

06 February, 2017, Bengaluru: NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM Bangalore (IIMB) is hosting a talk on ‘Building Bridges – Social and Capital’ on February 8 (Wednesday), 2017, by Nobel Laureate Prof Muhammad Yunus, under its initiative ‘NSRCEL Social’. Through ‘NSRCEL Social’, with the support of Michael and Susan Dell Foundation, NSRCEL is extending support to social impact not-for-profit ventures, to leverage its experience of nurturing early-stage ventures to build successful social ventures.

“Businesses today strive to inculcate social ethos in their vision and the social sector today is adapting best practices from the business world to achieve sustainable growth. The need of the hour is to develop a model and ecosystem to support the concept of Social Business – a business based on selflessness that is in all of us,” said Rajiv Sawhney, Chief Operating Officer, NSRCEL at IIM Bangalore

Prof Yunus’ talk will revolve around building and scaling social businesses. It will see discussions on the dwindling boundaries between the social and business aspects.

Prof Yunus is a globally recognized authority on evolving sustainable social business models. He is a social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. He has received several other national and international honours. He is a member of the Board of the United Nations Foundation. He has also served on the Global Commission of Women’s Health, the Advisory Council for Sustainable Economic Development and the UN Expert Group on Women and Finance.

Although it is free to attend, registration for the event is a must. Please click here for registrations. http://feb17.doattend.com/

About NSRCEL Social: NSRCEL Social seeks to address the lack of an effective support system for early stage non-profit organizations. The non-profit incubator will select and nurture early-stage organizations over the next two years, helping them become world-class non-profits that deliver impact. The incubator is guided by an advisory committee comprising established non-profit and business leaders and faculty of IIM Bangalore.

Topic: Building Bridges – Social and Capital

Date: February 8, 2017 (Wednesday)

Time: 3:30 pm to 5:30 pm

Venue: IIMB Auditorium

Visit @ IIM Bangalore

IIMB hosts expert panel to discuss UNION BUDGET 2017 on Feb 1

header

This is no ordinary budget. Coming as it does on the back of demonetization and in the context of uniform tax across the country on Goods and Services, it has generated already plenty of discussion and debate.

Analyzing Budget 2017, almost in real time, is a group of experts who will discuss its impact on technology related to MSMEs and skill formation, foreign investment, domestic industries, and on tax laws. CM Envirosystem’s Chairman Dr. Jacob Crasta, Bosch Chairman V.K. Viswanathan, L&T Finance Board Member S. Raghavan, DPK Engineers Chairman S. Sampathraman, and well known chartered accountant B.P. Rao are on the panel moderated by IIMB’s Dr. Charan Singh. Listen to them analyze Budget 2017 on Wednesday, February 1st, at 6:00 pm at the IIMB Auditorium.

Visit @ IIM Bangalore