This was the advice given by Mr. Nandan Nilekani, CEO and MD, Infosys Technologies, when he delivered his convocation address at IIM Bangalore on March 26. “Neither pure a specialist nor a generalist approach is sufficient to succeed in the ‘flat’ world. Successful managers of the future need to be of a third kind – the Versatilist. Imagine yourself as a Swiss Knife -- you are equipped with a variety of skills, which you can snap open to meet the demands of any situation.”
Mr Nilekani’s address focused on how globalization and technology are together changing the global business landscape – and how MBAs can play a more effective role in this regard.
Explaining the traits a Versatilist should posses, he added, “A Versatilist is a person who has the ability to apply deep skills to a progressively widening scope of situations and experiences. In the course of this, they gain new competencies, build new relationships, and assume new roles. One should be equally at ease with technical issues as with business and strategy. You have to synthesize knowledge, experience and the context to create business value.”
Earlier, setting the tone for his presentation, Mr Nilekani said that world is becoming ‘flat’ and its changing how business should be done: business rules and regulations are making it easier to do business around the world, and the economies of different countries around the world are becoming more integrated.
On the impact of a ‘flat’ world, he said, “In this new world, successful companies will look and behave very differently. They will produce where it is most cost-effective, sell where it is most profitable, use information to its full capacity, collaborate with partners to innovate faster and be well prepared for business cycles. The flat world company of the future is a leaner, flatter and more adaptable enterprise, working smarter.”
In course of his address, he outlined five traits for successful future managers: versatility, ability to think differently, ability/ to master both execution and strategy, ability to manage by influence, and ability to use data and information to manage cultural differences.
Emphasizing on the importance of execution, Mr Nilekani said, “In a flat world, execution is strategy. Success is 20% strategy and 80% execution.” Then, he explained the importance and the role of information technology and data in the new management approach: “Global companies will cut across organizational boundaries, working very closely with partners, and cut across geo-political boundaries, working with people from different cultures. This will offer many cultural and decision-making challenges. Information and data are important management tools. Rely on data to make sound decisions. Information breaks down barriers across languages, cultures and time zones.”
On the importance of management by influence rather than old command and control style, Mr Nilekani said, “In the flat world, traditional hierarchies are diminishing rapidly. As teams are spread across the world, corporate hierarchies have less meaning. Successful flat world managers will need to manage by influence, not command and control.”
