Dr. Pawan Munjal addressing at AIMA’s 66th Foundation Day
AIMA conferred Dr. Pawan Munjal, Chairman, and CEO Hero MotoCorp with the JRD Tata Corporate Leadership Award on its 66th Foundation Day. Dr. Pawan Munjal delivered the Keynote Address after being conferred with the Award speaking mainly on the lines of responsibility, innovation, sustainability and more.
Every year AIMA honours distinguished and eminent personalities, who have made outstanding contributions in the corporate world and professional management with the JRD Tata Corporate Leadership Award. Established as one of the most prestigious awards in the country, the Award was conferred to Dr. Pawan Munjal, Chairman, and CEO Hero MotoCorp his year. On the occasion of AIMA’s 66th Foundation Day, Dr. Pawan Munjal delivered the Keynote Address after being conferred with the Award.
Starting off the Address, he talked about how he had watched a movie with his grandchildren “Kung Fu Panda” and quoting from the movie he said, “yesterday is history, tomorrow is a mystery and today is the present, that is why we call it a “gift”. He efficiently related the quote to how incumbent it is for the current generation to adapt and evolve with the future generation so that we speak a language that resonates with everyone. The other thing to note, he said is that change and the future have always been associated with uncertainty. There are unprecedented events like the Covid pandemic that became an opportunity for humankind to overcome challenges and emerge victorious. Hence we must always see challenges as opportunities. History is proof of how the uncertainties were overcome by the resilient spirit of the human race.
The pandemic has also disrupted the ecosystem. Hence the approach to operations, planning, and beliefs underwent a sea change. Leaders (Public and Private) need to ensure balanced strategies to ensure growth and stability. Another aspect of today’s world is that it is not only changing faster but is far more complex than in the past. The geopolitical situations around the world mixed with fast-evolving consumer behaviour and rapid technology advancements have made companies incur mammoth losses. We need unconventional thinking and calculated risk to tide over such uncertain situations.
In recent times when uncertainties characterise economic and social structures, it is imperative for companies to adopt new age strategies and give up the traditional ones. Since uncertainty is perceived as a threat, human beings get into survival mode. However, uncertainties also bring with them endless opportunities, so leaders and companies are advised to promptly activate their thriving factors. Uncertainties also give rise to undiscovered needs that’s why leaders and organisations should adopt emotional intelligence to build trust. Communication is also critical as the absence of it can create great ease.
Times of uncertainties can also spark innovations for leaders and companies, and Dr. Pawan Munjal explained how he and his team had developed a ‘PPP Model’ during the pandemic. PPP being Perspective, People and Persistence. The ability to get the right “perspective” while amid uncertainty is often the inflection point. To be able to step back, observe and change the course is critical when operating in a fast-paced environment. By quickly analysing the change, an organisation or individual can adapt to the situation. “People” are at the core of everything in an organisation. Empowering people enables them to make decisions and motivates them to contribute meaningfully. It becomes essential for leaders and organisations to be “persistent” in their effort to propel their vision. Through a coherent and judicious mix of such models, the uncertainties of the future can be overcome.
India has come out as a champion in managing disruptions in the past few years, especially the Covid pandemic. The collective strength of the people of India has ensured a success story filled with new achievements. Our society is amazingly resourceful and persistent that is why India has not only evolved but leapfrogged into the future, proving to be the champion of change. With the inclusivity of macro and micro growth and also strengthening the start-up structure, the country has set itself for a mammoth growth in the future. It is now in a robust position to adopt massive economic growth.
Just like how he started his Address with a quote from a movie, he yet again ended his Address with another quote from a popular movie. ‘Spider-Man’. The quote- “with great power comes great responsibility”. He said that it is important for us to support ourselves, our resources, our families and also especially those who require help in times of crisis. He said that these are the criteria that the future generation will judge us on.
Watch the full session- https://www.youtube.com/watch?v=ZFFBv9n5QkM&t=14s
