“In the current milieu, areas like finance, marketing and systems management will fuel innovation, while start-up ventures will unleash creativity,” he said while addressing the Annual Convocation 2009 at IIM Ahmedabad (IIM A) on March 28, 2009.
Commenting on the current recession, Mr Parekh says, “Things have changed dramatically in last one year or so. A year ago, the Indian economy was brimming with confidence. But when one looks at the enormity of the crisis today, the truth is that we were all caught off-guard. One underestimated how coupled the global economy was. Who would have imagined that the free market theory would come under intense scrutiny as governments all over the world are now adopting policies with greater emphasis on the fiscal role with bailouts, stimulus packages and outright nationalization.”
Urging students to help world economy gain shine again, he says, “The world at this juncture needs you more than ever before. It needs your bold ideas, your energy and passion. It needs doers and dreamers and optimists. It needs people who believe things can get better and people who are willing to work to make them better. It needs you not merely when the markets are up, when money is easy, when banks are only too eager to lend but now, in testing and challenging times. We do not need magic to change the world; we carry all the power we need inside already. These are difficult and trying times.”
“Be the change that you want to see in the world. Regardless of where you land yourselves, be it private-sector industry, public service, legal or entrepreneurial practice, artists or entertainers. You will be tested to keep your ethical and moral values as it is very easy to get carried away. It’s up to you to stay alert and not get sucked into disreputable conduct, business practices or anything else which has even the slightest whiff of impropriety. The more successful you get, the higher the chances of being pulled into unethical and immoral business practices. The basics are work honestly, make people trust you and let them depend on your integrity,” Mr Parekh says.
While giving students mantras to success, Mr Parikh concludes, “Be a good team player. It isn’t always possible to run the whole mile alone. Remember that being able to get along and work with other people is a great asset in the corporate world. People are important and nothing can happen without them. Apart from that stay humble, but know and believe in yourself. Humility is essential for self-preservation – it helps you to cross all barriers in life and career.”
