WAVE MindRush Redefines Brainstorming With World’s Business Minds

WAVE BT Mindrush

BT MindRush, which held its first edition in the year 2013 and started catching the eyes of big think tanks and business leaders of the world, was endorsed and sponsored by WAVE Group in its 4th edition too, which happened on 17th December 2016 in New Delhi.

The fourth edition of BT MindRush had brainstorming sessions, felicitation of best CEOs, discussion on the impact of demonetization and much more. The event was a full day long event, and hence we bring our readers the experts from speeches, panel discussion and the highlights of the event.

Who said what!

Dr. Naresh Trehan- Chairman and Managing Director of Medanta Hospitals

If you have knowledge of your body, you can add ten physically-strong years to your life.

He asserted that discipline and control over the quantum and frequency of your food intake could make a world of difference to your health, helping you combat deadly diseases like diabetes.

Amitabh Kant- CEO of Niti Aayog

He argued that for India to become a 10-trillion dollar economy and grow at 9-10 per cent, it was imperative for the government to take some bold steps like demonetization. It’ll help the country move towards a cashless digital economy.

“India is a nation and a nation must have a long-term view, look at where will India be 30 years from now” and the short-term pain is worth the long-term gain. The banks are getting healthier; inflation will slide and tax rates shall go down, according to him. “It will take India to a new normal.”

Jimmy Wales- Wikipedia founder and Internet entrepreneur

I hate the word ‘crowdsourcing’.

Speaking on ‘Why Positive Deviance Works’, Wales declared that despite the increasing incidence of fake news sites across the world, Wikipedia has not been impacted. The onus of this, he said, is on Wikipedia’s community of volunteers who vigilantly write and edit the content. While it has a pool of 80,000 volunteers, the real content comes from 3,000-5,000 people only, who act as Wikipedia’s gatekeeper.

Contrary to what people think, he said, Wikipedia does not work on the crowdsourcing model. “I hate the word crowdsourcing,” he said, adding that the idea of this word comes from outsourcing; finding cheaper labour in another country to get work done at a reduced cost. Reminding the audience about the ‘bigger motive’ of Wikipedia, he said, “Imagine the world in which every single person on the planet is given free access to the sum of all human knowledge.” The platform was global, right from the time it started and is free to be accessed by all, and free to be distributed and repurposed, he pointed out.

Professor Deepak Malhotra- Eli Goldston Professor of Business Administration, Harvard Business School

To negotiate, you just need a learning mindset

Prof. Malhotra illustrated two essential skills that a negotiator must cultivate — the ability to create value, which he said was one of the largest leverages one can have and, two, focus on what happens to the other party if there is no deal. He was speaking on ‘Negotiating The Impossible’. The professor’s speech, replete with interesting anecdotes and stories, also highlighted the importance of the right mindset. “You need one mindset – a learning mindset,” he told the packed house. The key to the learning mindset is to treat your opponent as a partner, even those who hurt you.

Acharya Balkrishna- MD, Patanjali Ayurved

“The story of a Market Disruptor”

Without the trappings of a business magnet or a management guru, Balkrishna was able to convincingly explain the thinking behind Patanjali. “Our business mantra is: solve the problems of people, and they will reward you with success,” said Balkrishna.

Panel discussion on “How to survive stock market in 2017”

“Stay invested for the long-term”

Ridham Desai- Managing Director, Morgan Stanley India, said that the markets are in the midst of an earnings recovery. “That story would have built up nicely in the next two quarters, but because of demonetization, it has been pushed back.

Nilesh Shah, MD, Kotak Mahindra Asset Management Company: “We are looking at three to six months of delayed recovery.”

Rashesh Shah- Chairman and CEO of Edelweiss Group believes that the move was just not an economic experiment but a social experiment. “It’s an experiment that has a lot of benefits with an increased flow of informal funds into the formal system,” he says.

Bharat Shah- Executive Director, ASK Group, pointed out that there could be a shift from physical assets to financial assets because of demonetization.

Arvind Virmani- Chairman, Policy Foundation, said the timing of the move was not the most conducive considering the volatility in the global economic scenario and rabi crop sowing.

Subhashish Gangopadhyay- Managing Trustee at IDF, who stressed on the need for more equitable laws to remove the possibility of corporates benefitting from special provisions.

Arun Kumar- Economist, said there is already an impact on the unorganized sector which will next impair the organized sector.

Rajiv Kumar- Senior Fellow, Centre for Policy Research saw any impact of demonetization on growth as just a transitory phase.

Best CEO Awards:

Venu Srinivasan- Chairman and Managing Director of India’s third largest two-wheeler company, TVS Motors, said that disruption in the automotive industry over the next decade would outpace the developments of the past century ruled by internal combustion engines.

P. Gurnani- CEO & MD of Tech Mahindra

I don’t visualize a workplace with no manual intervention

He said that the workplace of tomorrow can be anywhere in the world. The workplace of tomorrow will be distributed. Technology will continuously change, and workplace will evolve. Technology will keep creating new productivity tools. But we will still require human intervention. I don’t visualize a workplace with no manual intervention,” he said.

Deepak Kapoor- Chairman of PwC India, who partnered BT on the Best CEO study, pointed out that while “CEOs are confident about the future, they realize that they have to transform and stay relevant to the marketplace”.

Electronics & IT Minister, Ravi Shankar Prasad, who also heads the Law & Justice ministries, was the Chief Guest at BT MindRush 2016, where he also gave away the prestigious Best CEO awards. In his address, the minister said, the government is setting the agenda for transformative reforms – this includes programmes such as ‘Digital India’, ‘Make in India’, ‘Skilling India’, ‘Start-up India’, ‘Stand Up India’, among others.

Information Source: Business Today

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