Gujranwala Guru Nanak Institute of Management & Technology (GGNIMT), Ghumar Mandi being run by Gujranwala Khalsa Educational Council (GKEC), organized a one day webinar on ‘Managing Crisis for Sustainable Growth’.More than Two hundred participants including students, professionals, academicians and researchers across the globe joined the session on sustainable development that is the need of the hour for both the national and international business houses.
Dr. SP Singh, President GKEC and former VC GNDU, Amritsar, welcomed the eminent guests and participants. He elaborated that collective efforts are required for protecting our resources and assets for the future generation. He stressed that Crisis should not divert organizations from the preferred path of sustainable growth Instead crisis management and sustainable growth should be taken as complementary to each other.
Prof. Manjit Singh Chhabra, director, GGNIMT, in his inaugural speech said that, in today’s competitive world, all the organizations are meeting the challenges and the threats to careers, relationships, survival and sustenance organizations and nations posed by this pandemic. He opined that, although Crisis and its management may divert individuals, nations and organizations from their preferred path of sustainable growth Great Leaders always interpret crises and its management as an opportunity for leaders/ individuals to stand tall and show their character in the face of extreme despair.
While delivering the rationale of the webinar, Dr. Parvinder Singh head, Business Management, GGNIMT, discussed about the ideas, insights, experiences and programs addressing the TWIN issues of Crisis Management & Sustainable Growth due to turbulence, Broad Basing of Decision Making in a Borderless World. He pointed out that where paradigms regarding Crisis Management and Sustainable Growth are blended to accept their Crisis is the New Normal and Sustainable Growth is the End Goal.
Dr. Nain Singh, Professor and Chairperson, Dept. of Education, Himachal Pradesh University, Shimla, talked about Crisis in the Education sector. He emphasized that Schools, universities and other academic institutions face greater duty of care than traditional workplace, carrying the responsibility for the welfare of young and potentially more vulnerable students.
Dr. Manjit Singh, Professor, University school of Applied Management, Patiala, highlighted by focusing on how to create shared values for sustainable development in any business. He explained to the participants the three ways that companies can follow for creating shared values i.e. by Reconvening, Redefining productivity and Enabling local cluster development..
In another technical session, Raman Chawla, Chief Financial Officer, Campus ACTIWEAR Private Ltd., Gurgaon, shared deep insights on Crisis management. He elaborated by saying “Crisis management is the test of top leadership vision and values that is created over the years” .He also touched upon some of the key aspects of any business – Robust plan, Communication and Focus on stakeholders.
Crisis is not only when you have deficiencies or uncertainties, it can be when you have a high growth potential period, said Dr. Harpreet Singh, principal, GGNIMT while thanking the experts and participants. The products mature earlier High growth period and eventually the product life cycle decreases, he added. The resource management, alternative products, suddenly conditioned consumer behaviour, price crashes and market dumping create unmanageable crises during such periods, he added. The professional planning and forecasting is the key in such situations, he suggested.