CPM Regional Management Conference 2018 (CRMC 2018)
CRMC- 2018 was a Rich Articulation of how to deliver Winnovative Business Strategies: The Quest for Managerial Excellence
The Institute of Certified Professional Managers (CPM) concluded the CPM Regional Management Conference 2018 (CRMC 2018) in a grand style in collaboration with the Association of Management Development Institutions in South Asia (AMDISA) at Kingsbury Hotel, Colombo on 04th and 05th September 2018. Participants represented from the AMDISA member countries in the South Asian Region and the CRMC 2018 was represented by leading management development institutions from India, Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives, Bhutan and Afghanistan. The theme of the international forum was “delivering Winnovative Business Strategies: The Quest for Managerial Excellence”.
The conference was inaugurated on the 04th September by the Chief Guest Hon. Karu Jayasuriya, Speaker of the Parliament of Sri Lanka. The Key Note Speaker was Dr Ravi Fernando, an Executive in Residence at the INSEAD Business School and Chairman / CEO of Strategic Corporate Sustainability Pvt. Ltd which operates in China, Vietnam and Sri Lanka. The President of AMDISA and Dean of National University of Maldives Mr. Abdul Rahman Mubaariquk, Vice President of AMDISA and Chairman of Board of Governors, University of Management & Technology, Pakistan Dr. Hasan Sohaib Murad, Director of IIM Bangalore, India Prof. G. Raghuram addressed the inaugural session together with the President of CPM, Prof. Lakshman R. Watawala who is also the Immediate Past President of AMDISA and Mr Samantha Rathnayake, Chairman of the Technical Committee/faculty member/management consultant at the Postgraduate Institute of Management of University of Sri Jayewardenepura. Also, at the inauguration day, CPM awarded Management Leadership Awards to a number of versatile personalities in respective management disciplines in recognition of their visionary leadership, commitment and dedication to the respective fields.
Prior to the inauguration there was a concurrent session which was headed by Mr Vijayapala Sinnathamby with presentation of papers from academics in universities across the region who had prepared articles which have been evaluated by a technical panel and to be subsequently published after the initial deliberations. This was a truly value addition to the subject discussed by selecting best 20 foreign and local authors. In a broad sense, the conference aimed to bring together management experts, scholars, practicing managers, business leaders, policy administrators and other academicians from different countries of South Asia on a platform to discuss various connected issues and share their research findings.
The tasks of crafting and executing strategy are core management functions. The excellence in the delivering of an “winnovative’ (winning+innovation) strategy is the most acceptable formula for turning an organization into a standout performance over a sustainable period. Crafting winnovative strategies is broadly a market-driven or/and resource-driven exercise revolving around the key application of managerial excellence. This conference aims at exploring and extracting the successful insights and foresights on the above theme based on local and regional best practices. It was highlighted that how to drive innovation into a winning formula; how to take an organization into a stand out performance; and what are the emerging insights and foresights in winnovative spheres?
CPM President Prof. Lakshman Watawala emphasized the need for the management layer of the country to drive economic growth along with the current development initiatives would be benefitted from good management, underscoring the need for institutions to develop the requisite strategies. The CPM and professional institutions have to play a role. We need to produce professionals who will be able to meet the requirement of globalization. We are in a different era now. Localization is good but we need to look at globalization. The Association of Management Development Institutions in South Asia has done a great work in this regard. The key note speaker, Dr. Ravi Fernando stressed the fact that this is where the world embeds sustainability and understands the reality. As we build business strategies, we have to choose whether we are part of the problem or part of the solution. Is our country or the business part of the solution or part of the problem? We have to be the part of the solution. In that light, as per the conference theme, he pointed out that on the need for drawing attention by the leaders of the organisation that the challenge of strategic cooperate sustainability is how the executing process within corporates could be directed.
Assuring the best value to the participants, four core themes were deliberated in the technical sessions. The sessions were as follows;
Session 1 – “Making Institutional Strategy and Business Model Winning”
Session 4 – “Delivering Results: Leading, Managing, Governance and Society”
Veteran panellists representing key institutions both from the public and private sector in the region expressed their opinions in line with strategy and execution as often interchanged as the same despite there was a gap. Leaders need to exhibit and foster creativity and innovation in the workplace to succeed in today’s competitive, unstable and volatile climate. This dynamic panel discussion brought top of their real life experiences in respective domains. How to connect with leading, managing, governance and societal dimensions in our endeavour to deliver results was the most highlighted factor in the panel discussion.
It was observed that business strategies stem through innovation, which is vital, same as the managerial excellence and tactics. There was an intriguing appeal to look at the recent history of the businesses to see the impact of innovation. Innovation has helped companies achieve great success against those which do not have innovation. There was a time when the mobile phones industry was dominated by Nokia. Rest is history. Innovation is the biggest challenge for organisations to achieve success. How can we change an organisation into an innovative strategic one? Innovative strategies drive markets. Innovative minds boost performance of organisations and markets. Since innovation is change and change is most important in strategy, innovation has great value. No corporation can survive without innovation. Creating business values mean breakthroughs such as engineering products, cost reduction, ambitious improvements, new business models and new ventures.
While contemplating on winnovative thinking, a person has to root himself outside the company and then only a person would be able to think fresh, would be able to add value to the company. Once a person is outside the company and sees what is happening outside, then he/she thinks outside the real space. When we think outside the company and then through the broader sphere of the ecosystem, that means we are looking at the world from the ecosystem. We will be able to see what is happening around the company and all the innovation. In the mindset of leadership, ideas, aspirations and possibilities have no boundaries. When we want to recreate and redefine a firm, the strategy, which is in our mind, should not limit our self to our firm. We should be able to see what is out there.
The ecosystem is about interconnectedness. What it requires is exposure. In order to have exposure, a person’s mindset has to have the exposure of that arena. The strategic outlook today is not the one that we used to have typically in military. This entire strategic outlook today is based upon our power and capacity that enhances our company’s values. So, this is the key strategic output that requires the capacity of the firm, to be a reliable partner in this network. Collaborative approach requires openness without reservation. Cultural openness, which is based upon a high degree of trust, would lead to increasing the capacity of exercise. It is not the hierarchy that matters today; it is what the company can create itself to steer forward by developing partnership.
It was with our sincere thanks to all who attended the conference in Colombo and having enjoyable stay here in Sri Lanka. The CPM would like to extend sincere appreciation and willing to continue the friendly spirit and request to join hand with future conferences in the region. All in all, it is about using the concepts that have been put across at this conference to make the region more vibrant for all management professionals.