Be prepared for challenges, failure: Uday Kotak has leadership lessons for IIM-Bangalore students
About 598 students graduated this week at IIM-Bangalore, 20 from FPM, 18 from PGPPM, 75 from PGPEM, four from PGSEM, 70 from EPGP and 411 from the two-year PGPeducation Updated: Mar 25, 2017 18:02 IST
For Uday Kotak, executive vice chairman and managing director of Kotak Mahindra Bank Limited, the attributes of a successful leader can easily be listed under one head: The 5Cs – character, conviction, commitment, creativity and capability.
In his address as chief guest at the 42nd annual convocation of the Indian Institute of Management Bangalore (IIMB), held recently, Kotak said his company “would not be what it is today if we did not think differently. As you move out of your cocoon, you will need to find creative solutions - dare to be different, test yourself, be ready to encounter challenges and also for failure, learn from your mistakes, and know that committed execution is the key to capability.”
IIMB’s Board of Governors, Kiran Mazumdar Shaw, in her convocation address highlighted Kotak’s achievements which made him one of “a rare breed of first-generation entrepreneurs in India who have created world-class enterprises with very frugal resources.” A 26-year-old who founded Kotak Capital Management Finance Ltd., in 1985, in pre-liberalisation India with its archaic and draconian policies, “Uday had systematically built (the company) into a financial behemoth, Kotak Mahindra Finance Ltd,” Shaw, the chairman and managing director of biopharmaceutical firm Biocon Limited, said.
Under his watch, Kotak Mahindra Finance Ltd had become India’s first non-banking financial company to be converted into a bank and today Kotak Mahindra Group is recognised as one of the topmost employers in India and Kotak Mahindra Bank as one of the most efficient and high-performing banks in the country, Shaw said. Besides this he had strongly focused on community development and inclusive growth – evident in the group’s initiatives to offer low-cost services to rural customers and its welfare programmes. He has also set up the Kotak Education Foundation, which addresses the educational needs of underprivileged children. “Such initiatives are saluted by IIM Bangalore, an institute that is dedicated to social impact and nation-building activities,” Shaw added.
Kotak, who is the sole Indian financier to feature in Money Masters and has been amongst Forbes magazine’s Most Powerful People in The Financial World (May 2016), concluded his speech with more wisdom. “You have huge opportunities,” he told the graduates. However, “you will face tough and challenging times as well. You have to be bold but keep your values intact. You need to be resilient, and stand up for defending what you believe in.”
About 598 students graduated this week at IIMB, 20 from the fellow programme in management (FPM), 18 from the post graduate programme in public policy and management (PGPPM), 75 from the post graduate programme in enterprise management (PGPEM), four from the post graduate programme in software enterprise management (PGSEM), 70 from the one-year full-time executive post graduate programme in management (EPGP) and 411 from the two-year full-time post graduate programme in management (PGP).
Professor G Raghuram, director, IIMB, shared the successes and achievements of the students. Wishing the graduating students success, he lauded them for being committed, active, and energetic. “Please put your all into serving the nation for its development agenda and to making the world a better place for humanity. As you move on to become alumni of this wonderful institution, I hope you will continue to cherish the eternal bond and remain connected with us. Go dream and pursue your passion with gusto,” he said.
Apart from faculty members awarded as distinguished alumnus/alumna from their own schools Raghuram highlighted the contributions made by IIMB faculty in publishing in A category journals and said that it was a matter of great pride and visibility for the institution.
In a special mention of the 20 graduating FPM students Prof Raghuram said, “It gives me great pride to report that among the 20 of you, there are 17 peer review publications, including five in top-tier journals. Out of the known 13 placements, 10 are joining academic institutions of which six are in other IIMs, a matter of great satisfaction for us.”
Among the graduating students this year, eight have been awarded gold medals. In PGP (Batch 2015-17), Udit Jalan, Dharmendra Hiranandani and Vaibhav Gupta received the gold medals for first rank, second rank and best all round performance, respectively.
In PGPPM (Batch 2016-17), Pranav Kumar Mallick won the gold medal for best academic performance.
From PGPEM (Batch 2015-17), the gold medal for first rank and for best all round performance went to Shishank Gupta and Suresh Ganesan, respectively.
In EPGP (2016-17), Nikhil Goyal won the gold medal for first rank, while Kushal Nitin Dalal won it for best all round performance.