Sep 8, 2017

Tips from Top – " Heath Care: An Exciting Opportunity”. Mr. Gaurav Malhotra, Managing Director, Medicover Healthcare

The Department of Management and Industrial Engineering hosted a seminar by Mr. Gaurav Malhotra, Managing Director, Medicover Healthcare who provided a clear and in-depth insight into the profound opportunities that the health care industry has and how the industry is adapting and changing with time. Medicover healthcare is an institution that believes in empowerment, integrity, teamwork, passion for quality and Entrepreneurship.

Mr. Malhotra began the presentation by a quote by Albert Einstein which talks about how easy it is to make simple things complex and how difficult it is to make complex things simple. He then went on to successfully explain the complicated concepts in the healthcare in simple terms that can be easily understood irrespective of background. He explained that, leadership behavior to him meant that one must be able to take decisions based on customers’ needs, must know how to unleash potential and must lead by example.

Mr. Malhotra explained how the healthcare system has evolved over the age in India. While the 1980s were familiar with large government hospitals and private nursing homes, the trend gradually shifted to multispecialty and corporate hospitals and recently we see an emerging inclination towards “medi-cities”. Indian healthcare is positioned for a robust growth. The health care necessities can be categorised as Environmental health needs, basic health needs, medically necessary needs, health enhancement and optimal health. Depending on which income group an individual belongs to, he or she will aspire for the optimal healthcare.  India is obsessed with growing economy. But unless we have a healthy nation, our economy would not improve. In the recent times there has been high growth rate in the health care industry in India due to the increase in disposable income, increase in diseases, population growth and insurance coverage. In fact, India is expected to be in the top 3 in the World in healthcare market in 2020. 

There has been a paradigm shift in the perception of healthcare. He explained how from conventional medical centres it has changed to state of art corporate setting, from long stay in hospitals to short stay and outpatient services; from unorganized sector to organised sector, from curative to preventive, from no quality check to quality service and accreditation, from travel to urban areas for treatment to availability of facilities in tier 2 and tier 3 cities and many such shifts. The amount of money spent on healthcare is the maximum while we are sick and terminal. We tend to go to hospital or avail medical services when we feel acute pain. The screening, diagnosis and preventive care are still at a very nascent stage.

Mr Malhotra then talked about the 4 A’s: Affordability, Assurance, Awareness and Accessibility. Even though everything in government is free, 68% of the Indians do not use public healthcare. He asked students opinions on what might be the reason for the lack of trust on the government health services. The discussion brought forth different views on the issue. He explained that India has a huge shortage when it comes to beds, nurses and doctors when compared to the WHO guidelines. 

Why is India such an attractive opportunity for healthcare business? Mr Malhotra explained that India has a huge demand right now. Whenever a family has a disposable income there are two places they will invest; child education and medical facilities. With the increasing per capita income of India, the country is an attractive market for medical business. India is the cardiac, cancer and diabetic capital of the world. The sedentary lifestyle is a major contributor to many diseases. To make India aware of the healthy lifestyle requires a big paradigm shift. The purported risk of lifestyle disease in India is expected to boost Industry sales figure. In the near future it is the private sector who would be the major player. Mr. Malhotra then walked us through VUCA (Volatility, Uncertainty, Complexity and Ambiguity) and how it is applied in the healthcare sector. 

Finally Mr. Malhotra shared his views and thoughts about life. Hard work and smart work are both required for success. One cannot be successful without endurance. He emphasized on the importance of the continuous learning and how the thirst for knowledge will define success. This was a tremendous addition to the seminar. For students just about to step into the corporate world in near future, it is an invaluable advice from a person who has been a part of it for years. The seminar concluded by Mr. Malhotra taking questions on the growth of healthcare and the coexistence of online and physical healthcare.

Sep 4, 2017

Tips from Top – Self Branding in the Field of Job Market. Ms Ruchita Sharma, Head of Talent, India, Fidelity International

“Brand yourself for the career you want, not the job you have.” Dan Schawbel

Gone are the days when the term branding was used with reference to companies and products, but today, even an individual has a brand identity and a brand reputation to maintain.
To talk on this intangible, career deciding concept, IME invited Ms Ruchita Sharma, Head of Talent, India, Fidelity International.

In today’s world, it is a natural human tendency to fulfill behavioral expectations of the people around us rather than representing our own brand. We try to be what people expect us to be rather than follow our own paths. Ruchita in her discussion touched upon a few points that would help one to build a personal brand.

Build you own label

Going with the flow is often easy but is not always the right path to choose. To build one’s own label, people need to stand for something, build multiple self- brands while knowing how to personify them throughout one’s career.

Have a view

Being an achiever in terms of social indicators doesn’t allow you edge as is commonly believed. In a crowd of IIT and IIMs everyone is equal in that ecosystem, having a view or a clear perspective acts as a differentiator for an individual; something that helps you stand-out in a crowd. But just having a view does not count for anything if you are not articulate enough to represent them. To grab the spotlight, a person needs to be quick enough to adapt to the changing dynamics of any organisation.

The learning never stops

In the world of automation and robotics to have a job in the future, people would need to  be passionate and imaginative beyond being domain experts. . People need to constantly up-skill and upgrade their existing skill sets to have that competitive edge so that they can continue to add value. Lot of these new learnings are about listening, observing, absorbing and less about structured educations

Confidence versus arrogance

A personal brand has something unique… it starts and ends with you. Since building one’s own brand is not easy and when one starts seeing success it leads to confidence which again multiplies around you and has the risk of treading on the fine line of arrogance. This is not only a denominator for all the good work you done to build your standing but also can create serious blindspots.

Package yourself better - what’s your charisma!

A product is as good as the way it is packaged. However good your content maybe, if your representation is wrong, the whole personal brand can fall apart or could take much longer to be discovered. Right from your voice, to your dressing sense, to physical appearance to your online presence; everything matters while building a brand reputation. Inarticulateness and mechanical thought process of an individual makes him/her lose ability to leverage authenticity and the banality must be avoided when we undergo for eg.  Interview processes.

Every end is new beginning

Never shy away from failure, because even if you win some or lose some, you will end up learning something new.  The pressure we face should make us a better professional and a better person. These are the moments of truth which help the self-brand shine thru and become stronger.

Sep 3, 2017

Tips from Top – Disruptive Technologies for ‘Digital Desh’. Dr Dinesh Chandrasekar, Director, Global Solutions and Innovations, Hitachi Consulting

The Department of Industrial and Management Engineering, IIT Kanpur played host to Dr Dinesh Chandrasekar (Hitachi Consulting) for a lively and informative seminar session on Disruptive Technologies for ‘Digital Desh’.

“The Best way to predict the future is to invent it” With this quote from Alan Kay, Dr Chandrasekar proceeded to talk about the disruption that was being brought upon by the software designed businesses, and the wealth of opportunities it has churned up for young management graduates and technocrats to showcase their talents. Expounding upon the generational shift and exponential increase in innovation that has happened over the past couple of decades, he gave two revealing examples which highlighted how the rise of technology has accelerated growth. The contrast between the Moon missions by NASA, which involved immense human effort and economic capital expenditure over a period of 8 years versus the Team Indus - a small team of technocrats from India in the present who built a Moon Lander in a 3 years with a fraction of the resources, showcased how advancements in technology have hastened implementation of newer, innovative ideas into reality, in timeframes and costs unthinkable in previous eras. Furthermore, talking about the immense decrease in adoption times of newer technologies among people, Dinesh gave the example of the time it took for various modes of communication and mass media to reach 100 million user base. The numbers were revealing - while it took radio 38 years to achieve that target, a completely new mobile telephony entrant (JIO) achieved the same figure in 170 days.

With the rise of disruptive players like ‘Jio’ in the Indian digital communication sector, the speaker then talked about how Digital India was becoming a reality, with immense growth being shown across all segments of the sector. He described how this growth presented prodigious opportunities for innovation, particularly mutant innovation, as seen in markets such as China, where local, innovative players adopted international ideas and created fresh new segments for themselves in a booming market. Moving onto the consequences of such innovation on legacy companies, he talked about how it presents a grim scenario for companies which are not willing to adapt and inculcate innovation in their production and management strategies. Quoting an article by Washington University, he explained how 40% of the current Fortune 500 firms will cease to exist because of digital disruption.

Moving on from the consequences of disruption, Dinesh also talked about how modern technologies such as IOT could help businesses survive and thrive. Stressing particularly about the importance of IOT in modern industry, he gave examples from a variety of projects of Hitachi Consulting to showcase how IOT technologies could be implemented in a wide range of sectors, from retail to public safety to health services to the automotive sector. Further detailing IOT solutions, he gave several examples from his own experience in the fields of predictive maintenance and smart city projects, endeavours in which IOT technologies provided solutions which weren't possible with legacy, unconnected technologies.

The audience was then treated to an interactive Q&A session, in which the speaker answered queries on a wide range of issues. From voicing opinions on future of automation and its consequences on human careers, to providing insights into how such developments would reassert the importance of human critical thinking and creative skills, Dinesh also highlighted the need for constant learning to stay ahead of the curve, saying “ Don't be a know it all, be a learn it all.” The session proved to be highly insightful and was deeply appreciated by the audience.