Dr M G Parameshwaran underscores importance taking sensible risks
The Myra School of Business celebrated its graduation day to honour the second batch of 45 PGDM students and the third batch of 15 PGPX students at its college premises recently.
The function commenced with the tree planting activity followed by the academic procession marching into the Athena Auditorium led by the Karnataka Police Band, once an integral part of the Maharaja’s court.
In his convocation address, Founder, Brand-Building.com Dr M G Parameswaran focused on the three types of risks and the importance of taking sensible risks. He gave examples of the product line, Brufen which had a major setback because of mislabeling but managed to circumvent it by taking certain risks in terms of handling the Drug Control Authorities.
Dr Parameswaran also narrated the example of the entrepreneur, V S S Mani of Just Dial, in taking calculated risks and succeeding. Taking the example of Kaun Benega Crorepati (KBC), he cited how a mid-level manager of Star TV took the risk of sticking his neck out and suggesting the idea of bringing the international series ‘Who Wants to be a Millionaire’. “He Indianised it, brought in a star like Amitabh Bachchan who at that time was going through tough times and built a huge brand and catapulted both Star TV and himself to a different league altogether,” he said.
Speaking on the occasion, former Foreign Secretary Ranjan Mathai told students to utilise their skills and expertise in the global world, about the need for transformation despite progress and the significance of developing strategies accordingly. He highlighted the fact that global engagement can improve the economy and explained how exports accounted for 25 per cent of the country’s GDP and post 1992, it accounted for 50 per cent of the GDP only through global engagement.
Associate Dean and Director of Research, Dr Abhinanda Sarkar, Chairperson, MYRA School of Business, Dr Shalini Urs, Professor of International Management, Dr Wolfgang Messner and Senior Associate Dean and Professor of Marketing Dr Sudhindra Seshadri were present on the occasion.