Alchemy is the annual management conclave of SIBM Bengaluru and is the flagship event
of the Conferences and Events Committee.
This event consists of panel
discussions on the various sub-themes that are in turn related to the main theme of the
conclave.These discussions are followed by a moderated Q&A session with the students to
give them an opportunity to interact with industry experts.Eminent keynote speakers and
personalities from various domains of the corporate world share a single platform to
express their views and experiences.
If India was to be described in one word, it would be ‘pliant’. Over the years, since 1947, India has seen exponential changes and growth in its economy and industries and has been able to adapt to these changes very quickly. This agility has not only provided an extensive ground for innovation and development but also made allowed changes in regulations and norms to adjust better to the generations that pass by. This ascending development in various sectors of the country only continues to grow with time. The brain drain caused by digital imperialism has led us to evaluate if the sectors contributing the highest to India’s GDP are doing anything more apart from profitability. We have established global dominance in the IT services sector, but we, as a nation, haven't been able to come out with ideas or products that are exclusively "Made in India". We still rely on other countries to 'start a trend' before we make some modifications to them and produce our own.
Panel:The Indian Brain Drain: Overcoming Digital Colonization | The Service Sector Landscape: Challenges and Opportunities | Technological Supremacy: Navigating Industry 4.0
The fourth industrial revolution has ushered in new technological trends that are reshaping business processes, company strategies, supply chains, and market dynamics to cater to endless customer expectations. Many roles are foreseen to vanish; as constant upskilling is necessary to keep up with the fast-paced seeping of technology into almost every business sector. The World Economic Forum estimates that by 2025, 50% of workers will need reskilling because automation will displace 85 million jobs worldwide, while 97 million new roles will emerge adapting to this dynamic. Digital transformation is no longer just an idea or a buzzword, it’s the new normal for every company that wants to remain relevant in today’s increasingly digital world. Having said that, what happens when organizational systems do not adapt to people's capacity for autonomous collaboration? Keeping in mind the rapidly changing business environment, how taxing will it be to cater to rapidly changing customer needs? What will the future of data-driven judgments - and decision makers - look like in a world where fact-based business advice is increasingly a given? Algorithms will become more intelligent as technology continues to advance. What will thus distinguish the wisest choices from the unimportant in the world of tomorrow? How will the most intelligent businesses overcome the "success barrier"?
Panel:Re-envisioning Data: Bedrock of Digital Innovation | Fostering Change: The Art of Visual Storytelling | Nurturing Entrepreneurship: Ushering an Era of Ideation
The post pandemic resurrection of industries was led by leaders all across the globe, who dared to dream big and think out of the box, thereby redefining management and transforming the future. The pandemic was leveraged upon by many firms as an opportunity to transform digitally and grow beyond barriers. Data-driven transformation has brought about a renaissance in the field of management, by introducing the world to big data and data warehousing tools, which not only helps leaders to forecast erratic changes in the market but also to anticipate an optimal course of action. Leaders,therefore promote the development of relevant skill sets through organisational transformation and encouraging employees to create an inclusive learning environment. With inclusion, there comes a need to be diverse as well as equitable. An inclusive organisation is one with representation from diverse backgrounds and which gives an equal opportunity for each employee to develop and participate. The pandemic has also transformed democratic style of leadership to a more people based and affiliative style of leadership. The result based approach has changed to a people based approach where leaders value emotion and trust over anything else while maintaining an open loop of communication where each employee is encouraged to participate and share feedback. Having said that, is there a risk of loss of span of control and power dilution as businesses move towards a more affiliative style? Moreover, before the Covid-19 pandemic leaders were expected to be change ready, and now in this new world they are change agile. How does a leader anticipate this shift as a challenge? How do leaders use data and technology to lead organisational transformation while maintaining their responsibility to constantly innovate and give back to the environment? As the future workforce, how do the leaders of tomorrow increase their skill set to add value to business and society as a whole?
Panels: Data Disruption: Impact on Leadership | Innovate, Ideate, Sustain: A Way Forward | Inclusivity in Leadership: Power of Workplace Diversity
“The pandemic represents a rare but narrow window of opportunity to reflect, reimagine and reset our world” – Klaus Schwab
For many businesses, COVID-19 came as a blessing in disguise. These difficult times not only enabled them to pivot their business operations, but also grow their business. To come back stronger and thrive, companies are reimagining their businesses. The deadly virus - COVID19 impacted the entire world, causing millions to lose their lives, economies being adversely hit, businesses downsizing or closing down, people losing jobs, and many more. India too witnessed similar unfortunate circumstances, with many families losing their sole breadwinners and means of income significantly reducing. Yet, as we step into this new decade, we are hopeful that we have reached the light at the end of the tunnel. It is the ideal time to shift towards the next normal by adopting new and innovative business models and strategies, and unlocking a sustainable and better future helping global economies bounce back. This revival of global economies driven by technology, will deliver the right business strategy, driving new business agendas, and bringing new thinking and dynamism to conventional ways of business. Rising demand and falling infection rates have tempered the expectations of COVID's hit on the global economy. With the entire landscape of businesses altering, what role can adaptability and technological advancements play to keep businesses afloat? How can nations leverage the existing situation and become front-runners in leading the world towards a faster recovery?
Panels: Business Transformation and Building Resilient Frameworks | Economic Dynamics – A Paradigm Shift | Enterprising Technology: The Vital Spoke of Transformation
When India gained the status of an independent nation 73 years ago, the country found itself as a technology infant immersed in poverty. The journey of India evolving from an impoverished third world country to an emerging global superpower has not been a smooth one. Even today, as the country stands on the brink of entering a new revolutionary era, issues like widespread poverty, inadequate infrastructure, slow rate of capital formation and job creation for a population of 1.3 billion people are still holding back what otherwise is, one of the fastest growing economies of the world. Unless India frees itself from this vicious cycle it is in, emerging victorious in the upcoming era will be difficult. This raises the following questions: How should it manage its economy in a global environment of unstable and turbulent economies? How will it facilitate organizations to cross the chasm from being just businesses to harnessing the true potential of an innovative corporate structure, strong governance and varied culture? How should it leverage technology to reach and maintain an advantageous position over other countries?
Panels: Fading Synergies: Overcoming Economic Turbulences | Technology: The Coign of Vantage | Crossing the Chasm: Bridging the Corporate Gap.
In order to adapt to change, one needs to be aware of the change. In this era of information India’s recent expansion has not just been reflected in terms of numbers. There have been profound shifts in technology and analytics, government policies, foreign relations, etc., all of which have helped in creating a sustainable competitive advantage for Indian companies. India is now one of the fastest growing economies in the world. These shifts have not only impacted the 1.3 billion people of the country but the rest of the world as well. India’s growth momentum can be largely attributed to new technology that’s making it happen, opening even bigger opportunities for growth, inclusion, and further investment. Analytics, data science and big data industry in India are expected to grow seven times in the next seven years. India has also started to realise the importance of sustainable business processes and long term future oriented strategies. How these developments are redefining the country and to what extent, is the topic for discussion.
In order to adapt to change, one needs to be aware of the change. In this era of information dominance, it is becoming important that we keep track of changes around us and their consequences at both macro and micro level. In the midst of rapid changes brought about by revolution in information technology and the growing globalization, enormous economical as well as technological transformation is occurring in all spheres. The last two years have seen remarkable changes in India's development paradigm. With demonetization and GST being implemented, a majority of industries have undergone reforms. Significant progress has been observed in the technology sector, albeit at the same time, Indians are still in the process of accepting these changes. Vivartana Bharata, aims at understanding the implications of these changes and embracing them with open arms. Vivartana means “Transformation”. How these changes are going to significantly impact the various ongoing developments in the country and to what extent, is the topic of concern.
Panels : Bankable India? | Good and Simple Tax? | Technological Singualrity
India is forecasted to become the fastest growing economy in the world, but will it be able to sustain this growth, is something many Indians are really skeptical about. The new government policies have garnered significant market attention in the past two years and have done well in shifting their major spending from consumption to investment. At the same time, there are many reforms that promised great gains but have actually failed to deliver. Therefore the question remains, given India's young and dynamic population of 234 million citizens between the age of 15 and 24, can India invert the skeptics' argument?
Panels : Running on Fumes? | Destination: World? | Digital Darwinism
A young country that has won its independence just 69 years ago, carrying a heritage of almost a million years, India is yet to decide upon a path that will help exploit its potential. Should India continue to take advantage of its human capital and nourish the service sector or should it go back to its roots and rebuild its industries? The time has come for the traditionally agro-based, food importing economy to make some serious changes. Designing the future is of foremost importance, but can that be done without recounting the lessons of the past?
Panels : Making India | Fuelling Intrapreneurship | Balancing the Scales
With aspirations soaring high and uncertainties weighing us down; we stand today at an inflection point. We are at the brink of a major upheaval, as we design the future. The tumult of activity in the economy, the surge of youthful energy and the wave of optimism that surrounds us – all this was focused on in the key note speeches and panel discussions.
Panels :
“Going the Extra Mile” - Finance |
“Behavioural Economics: Coming of Age” - Marketing |
“Supply Chain: Sustain and Surge” - Operations |
“Transnational Leadership” - HR