We have entered a prolonged period of unprecedented turbulence and uncertainty which isn't simply a fallout from the great recession. This recession is only a recent symptom of a broader, fundamental shift in the environment. We are witnessing a rebalancing of economic power away from the developed world towards the more populous but less developed countries.
The problems of global trade imbalances, unsustainably high levels of debt, and a severely damaged banking sector are not resolved and will take years to do so. While the long term growth story for India remains intact, the journey is unlikely to be smooth.
Volatility across all economic parameters has shown a dramatic upswing in the recent years. Political and regulatory risks have also become material and higher level of globalization and increased speed of information flow has increased the exposure to global volatility.
The new normal is here to stay and we have to see this as "business as usual". The old sources of competitive advantage are no longer sufficient for success in this new normal. We need to recast our management toolkit.
There is no silver bullet for winning in the new normal. It will require changes across the organisation in how we do business. We need to inject optimism, discipline, agility and flexibility in to the DNA of the organisation. We must create adaptive advantage as it will be the future source of competitive advantage.
As is evident an organisation wide action agenda is required to thrive in the new normal. What is required is a portfolio of initiatives ranging from tactical changes to strategic moves and cultural shifts. " Adapt or perish, now as ever, is nature's inexorable imperative".
This is a paradigm shift. What is required is Management Innovation. Innovation must be a strategy just not technology.
Frugal ingenuity of emerging nations must be synchronized with Advanced R & D of developed nations.
Increasing top line revenues through innovation has become essential to success on the industries.
IFC 2020 is going to take place in this exciting and important scenario and the theme for the event is approximately chosen highlighting this "Paradigm Shift Blueprint 2020".
We promise a very interesting fare in the Technical Sessions with a galaxy of prominent speakers to keep you glued to your seats.