A first year student of the Indian Institute of Management Kozhikode (IIM-K)'s PGP 2013 batch has bagged the prestigious Harvard Business Review/McKinsey M-Prize for management innovation.
Describing the achievement of Joel Modestus as "significant", Debashis Chatterjee, Director of IIM Kozhikode said: "We always encourage our students to explore beyond the defined academia and experiment the unconventional."
Congragulating Joel, he said: "Organisations are looking for innovation beyond academic studies to add value to their existing practices. Such ever-evolving innovative tools for management are the need of the hour to cope with the demands of a constantly transforming global environment," an IIM-K press release said.
The Harvard Business Review's (HBR) mission is to improve the practice of management and its impact on a changing world.
To take this mission forward, HBR has collaborated with the Management Innovation eXchange (MIX), a web-based open innovation project aimed at reinventing management for the 21st century which strives to create organisations that are fundamentally fit for the future - and genuinely fit for human beings. This initiative is supported by McKinsey & Company.
The competition held by one of the most reputed management institutes in the world, Harvard Business School along with McKinsey and in collaboration with Management Innovation Exchange, architects a challenge which is radical in the field of management.
Joel submitted a hack titled 'The 4 Hat Hack: How a micro-change in your employee portal can yield mega results in Leadership'.
The results of the first round were declared on July 31 and Joel was among the 18 finalists from around the world. For the second round, he carried forth the momentum and further modified his entry.
The results were declared on September 28.
Joel was one of the nine winners from around the world and among the only two from India. He also got a coveted invite to the MIX Mashup Event on Management Innovation which will be held in New York, next year.