World renowned business thinker Dr. C.K.Prahalad was the chief guest and delivered the convocation address.
Dr. Prahalad congratulated the PGP students and appreciated the efforts put in by parents and professors in moulding the students. "India's current financial success may hide its true potential", remarked Dr. Prahalad. He stressed that it is time for India to accelerate its growth by reducing costs and improving the quality. He emphasized that the biggest worry for the country is the growing income inequality due to rapid economic growth. Unless India embraces new ways of thinking, it cannot achieve its growth potential.
Dr.Prahalad concluded his address by advising the students to tread the path of innovation and entrepreneurship with morality and honesty and transform their ideas into action.
Speaking on this occasion, Dr AC Muthaiah said that IIM Kozhikode has made remarkable progress and with the tenth batch passing out with excellent placements, the future looks great for the institute. He lauded the faculty and staff for their excellent contribution towards the institute's growth.
IIM-K Director Prof. Krishna Kumar highlighted the achievements of IIM Kozhikode. He remarked that the International Distance Learning programme, pioneered by IIM Kozhikode has been a resounding success and the institute would increase the scope of the programme further. He added, "We are the fastest growing IIM in the country. We have achieved the target of Rs 50 crore in revenues set by the central government in just three years".
Earlier in the day, Prof. Prahalad mesmerized the students of IIM-K during a brief interaction. A plethora of topics were discussed. Speaking on corruption, he went on to say that if there was anything that will bring the nation down, it will be corruption. And as managers, the onus will be on young students to take a tough stance on corruption. Answering to a query on entrepreneurship, he noted that no one is ever ready for entrepreneurship. Comparing it to a form of self-expression, he added that entrepreneurship is always lonely and hence self-commitment is very critical to every entrepreneur. Complimenting the Dabbawallahs on their efficiency, he observed that there are many other similar cases which are the epitome of efficiency but have not been researched - like the rural Beedi distribution network, for instance. It is upto formal management sector to learn the finer nuances of management from them. As a parting remark, Dr. Prahalad said, "Create the best practices; Don't worry about the best practices."
