The second session of Day 3 of Trade Winds commenced with the National Leadership Summit on the theme, ‘Disruptive strategies in a data-driven world’. IIFT had the privilege of hosting an esteemed panel graced by Mr. Mithun Sundar, Head of Strategy at PepsiCo India, Mr. Subhashish Majumdar, Vice President at Hinduja Media, Mr. Vikrant Wadhwani, Partner at Accenture Strategy and Mr. Amit Misra, Head Consulting – North India at IMS Health Consulting.
The summit began with Mr. Mithun Sundar, Head of Strategy at Pepsico India addressing the students. Mr. Sundar started by reminding the students that most of the learning during an MBA course takes place through your peer groups. According to him, India is the very definition of disruption and in an era where disruption takes place, you should know your foundation and what you stand for. He also explained the role Pepsico plays in disruption within India, like for instance how they are contributing towards NITI Aayog’s goals for 2022. He also mentioned the importance of creating a social approach and how the vast spectrum of change causes a lot of disruption.
Mr. Subhashish Majumdar, VP at Hinduja Media carried forward the discussion by highlighting that today, disruption means garnering new opportunities and broadening the scope of existing ones for the future, using data analytics. Digital content gives features like inter-operability and inter-connectivity to data related to the market, which can be leveraged to make business offerings more customer-centric. The user-driven approach and data-driven approaches are complementary today. Unlike earlier, when there was a strong significance of first mover advantage, the advantage today lies with those who can gather meaningful data insights.
Taking the summit forward was Mr. Vikrant Wadhwani, Partner at Accenture Strategy. Mr Wadhwani started his address with the thought that, what was disruptive and unique in the past has become very common now, which he highlighted with numerous examples. He then pointed out how data is more pertinent to the internal functioning of an organization then it is generally thought to be. Mr. Wadhwani then went on to highlight various different eras of business classified according to the way in which they used their data. Finally, he ended his speech by pointing out that in a data-driven world, one has to be proactive and not reactive.
Mr. Amit Misra from Quintiles IMS put forward his view that it is easy to use the term ‘disruption’ but when it comes to using data, making meaningful conclusions from the data is what matters the most. Mr. Misra, sharing from his experience, made the students understand that when it comes to a pharma company, there are challenges around productivity. ‘The closer you are and more data you have around the stake holders, the easier it is to make better decisions.’, said Mr. Misra while addressing the issue of meeting the needs and gaps of the market. He ended his talk by making it clear that when you have a fragmented set of stakeholders, technology should be made more inter-operable, and this gap must be bridged as quickly as possible.
The National Leadership Summit also saw the launch of ‘Strategos’, the magazine compiled by the consulting club of IIFT, ‘Socrates’. All in all, the National Leadership Summit was a thought-provoking and insightful experience for all the stidents of IIFT. The experiences and anecdotes shared by the speakers have made it evident how data-driven disruption is shaping the decision-making process in the world of business.