Day One of India Strategy Conference 2023 sees global strategy experts discuss strategic opportunities and challenges of the 21st century
IIM Bangalore hosts iconic conference jointly with IIM Ahmedabad, ISB Hyderabad and CII Chief Strategy Officers’ Forum
14 December, 2023, Bengaluru: IIM Bangalore, jointly with IIM Ahmedabad, ISB Hyderabad and Confederation of Indian Industry Chief Strategy Officers’ Forum (CII CSO Forum), is hosting the India Strategy Conference 2023 (ISC 2023), from 14th December to 17th December 2023, at the IIM Bangalore campus. The Co-chairs of the India Strategy Conference 2023 are Prof. Rejie George Pallathitta, IIM Bangalore; Prof. Prateek Raj, IIM Bangalore; Prof. Amit Karna, IIM Ahmedabad, and Prof. Chitra Singla, IIM Ahmedabad, all faculty from the Strategy area.
For the complete agenda of the conference, please click here.
Inaugural address
Day One of ISC 2023 featured the inaugural address delivered online by Dr. Michael Hitt, Professor, University Distinguished Professor Emeritus and a Professor Emeritus of Management at Mays Business School, Texas A&M University, on ‘Meta Capabilities, Organizational Agility and Entrepreneurial Strategies: Managing Strategically in a Non-Ergodic World’.
Prof. Hitt started by explaining ‘non-ergodic world’ as one in which there are technological, socio-political and institutional changes, which may not return to the original state. “Since 2000 we have had three highly disruptive events, namely, 9/11, the financial crisis in 2008 and Covid. We have had several geopolitical conflicts as well. In such situations, firms need new strategies to adapt and grow. Changing institutional environment implies periods of instability and economic uncertainty, changes in regulatory and political institutions and informal norms. However, there could be differences across countries and cultures. There are combined effects leading to complex institutional environments – on formal, informal, semiformal and polycentric institutions.”
Listing top strategies to be followed in the dynamic new normal environment, he mentioned continuous and innovative entrepreneurship; more regional-local supply chains; building strong relationships with stakeholders; balancing benefits across all stakeholders, and building and maintaining a strong resource portfolio, as crucial. “All these will add to the value creation process”, he said.
For the research on Meta Capabilities, he shared 98 studies of capabilities used by firms to implement international strategies were studied, which were identified from categories of capabilities important in a non-ergodic world. “The two most critical include Meta Capabilities – the capacity to develop dynamic third-order capabilities to reconfigure and regenerate resources and capabilities, and strategic dynamic second-order core capabilities – which involve seizing of opportunities and shaping a firm’s strategies.”
Explaining the relation between organizational agility and entrepreneurial strategies, he said, “Dynamic capacities help firms gain organizational agility; agility helps firms design and implement strategies and be entrepreneurial.”
“Two critical components of organizational agility are human capital and relationship with stakeholders. While the former is a major component of an organization’s capabilities, the latter provides access to resources that help reduce risk and uncertainty. Strategy leaders mold human capital, stakeholder relationship and other resources to design and implement entrepreneurial strategies.”
He concluded by saying, “There is a new age of globalization, where countries are more parochial, the distribution of economic power is dynamic and there is greater digitalization. History has shown that creativity and ingenuity born of entrepreneurship are often enhanced in challenging times, contributing to positive market opportunities and stronger competitive advantage over time.”
His talk was followed by a Q&A session moderated by Himanshu Shekhar, student of IIM Bangalore’s Doctor of Philosophy (PhD) programme of the Strategy area. Answering a question, Prof. Hitt said, “As researchers, we too are affected by the non-ergodic world. Hence, we need to work more quickly in our ideas, focus on quality, and do a terrific job. Co-authors add value as well.”
How to Successfully Navigate a Doctoral Program
Earlier in the day, Dr. Sumit K. Kundu, James K. Batten Eminent Scholar Chair in International Business, Florida International University, Miami, US, took the audience through a session on, ‘Successfully Navigating a Doctoral Program: A Personal Reflection’. He focused his talk on both the research and teaching aspects.
“What you need to put in are hard work, extensive reading and writing, tenacity, and perseverance. Be informed that papers are accepted by journals only after several rounds of review.” He quoted from data explaining acceptance rate of leading journals, adding that getting papers accepted by top publications is sometimes very tough. “If you can get your paper cited, it would be more impactful. Do not be discouraged if the paper is rejected, the feedback will help you significantly.”
He listed the must-haves of research as what he termed the Five ‘I’s of Research. “Research has to be impactful, insightful, innovative, interdisciplinary and integrative.”
He also discussed journal rankings adding, “There is a learning curve effect to publishing in top-tier journals.”
He went on to explain the process of research paper submission and evolution of manuscripts. “Review from friends and fellow professors is vital, and so are conference and seminar presentations as well as revision based on feedback. Make it best to get R&R, finish by professional editing and submit to journal.”
“To publish in top tier journals, the key components are strong, logical argument and consistency with norms of target journal. Acceptance and rejection are based more on argument, when compared to analysis.”
He spoke in detail on how to write a research paper. “The topic should be contemporary, and the research question needs to be defined properly. Fosus on macro, meso and micro. The paper should be divided into two parts – the front end and the back end – starting from introduction, review and theoretical lens, moving on to hypotheses, research design, research methods and qualitative as well as qualitative analysis, and ending with results and discussion, and conclusion. It is good to write the abstract after the paper is drafted.”
Prof. Kundu also highlighted the key considerations for publishing and how to choose a journal.
These talks would be followed by a comprehensive 'Methods in Management' workshop open to all registered participants, especially for PhD students and early career scholars, focusing on workshops teaching and discussing the state-of-the-art qualitative as well as quantitative methods used in management scholarship.
Evening sessions
The evening session will include the formal inauguration by Prof. Rishikesha T Krishnan, Director, IIMB, and the Co-chairs of the conference. Also on the cards is the ‘Panel of Veteran Scholars’, including Dr. Raveendra Chittoor, Dean, School of Professional Studies & Executive Education, Jio Institute, Prof. S Raghunath, former faculty of the Strategy area, IIMB, Prof. J Ramachandran, former faculty of the Strategy area, IIMB, Prof. Sougata Ray, faculty, Indian School of Business, and Prof. Chitra Singla, IIM Ahmedabad.
The day’s events will wrap up with the internationally acclaimed play, ‘The Prophet and the Poet’ (based on the historically significant exchanges between Mahatma Gandhi and Rabindranath Tagore for over 25 years), presented by the Bangalore Little Theatre, which is written and directed by Vijay Padaki, who was part of the founding faculty of IIM Bangalore. A behavioral scientist with a special interest in Organization and Institutional Development, Prof. Padaki has developed the concept of Organizational Maturity in his work. The play is often used as a springboard for a deeper exploration of the concept in his work with organizations.
Highlights of upcoming sessions
On the second day, CII CSO will conduct the sessions during which prominent industry leaders would share insights on shaping strategies in a disruptive world. The key themes will include Turbocharging Technology and Digital Disruption, Embracing Sustainability and Capitalizing on Global Opportunities.
The last two days of the conference will include over 150 academic presentations across six tracks including technology, innovation and digital transformation, ESG and non-market strategy, business and corporate strategy, internationalization and global strategy, family business and entrepreneurship, and leadership and human capital.
As part of the event, on 16th December, there will be a Carnatic flute SPICMACAY concert by Vidwan Sri Mysore A Chandan Kumar. SPICMACAY, which stands for Society for the Promotion of Indian Classical Music and Culture Amongst Youth, is a non-profit organization dedicated to promoting awareness and appreciation of Indian classical music, dance and culture among the youth of India.
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