Noticing this need, Delhi based International Management Institute (IMI) organized a lecture on 'The changing global Economy Paradigm: What does it mean to Indian Business leader' by Prof Jean Pierre Lehmann of IMD, Lausanne on October 10.
Talking about the changing global economy Prof Lehmann said, "Globalization leads to borderless world where there are lots of exchanges and flows taking place between India, America, China and many other countries. It's a period of massive change!"
Globalization has brought many challenges for Indian businesses. "The biggest challenge is global competition. There is very intense competition where organizations need varied professionals with varied skills," said Prof Lehmann. Calling competition as opportunity he said, "Competition should be looked as positive trend for growth."
How should managers equip themselves for the global world? Prof Lehmamm is of view that managers need to understand both local and global environment to thrive. Speaking to MBAUniverse.com, Prof Lehmann said, "Before going global you need to understand the local environment well and to be proficient within the environment."
To do well in global era, mangers need to strengthen themselves in four key areas. Said Prof Lehmann, "The first important things to acquire are business related skills in finance, strategy, operations etc. Then, they should have global knowledge i.e global environment understanding and what's happening in global business world." Further, he added, "Managers need ethical competitiveness and committed citizenship which is important as a part of corporate social responsibility."
Jean-Pierre Lehmann has been Professor of International Political Economy at IMD International Institute for Management Development since January 1997. His main areas of expertise are the socio-economic and business dynamics of East Asia, the impact of globalisation on developing countries and the government - business interface, especially in respect to the global trade and investment policy process.
Located in Lausanne in Switzerland, International Institute for Management Development, (IMD) was founded in 1990. It was created in a merger between IMI, founded by Alcan Aluminium Ltd. and IMEDE, founded by Nestlé SA, two independent business schools. It has a long history of providing executive education.
