November 2019, Mumbai: Established in 1954, the Bombay Management Association is popularly known by the acronym BMA; is one of the India’s leading managerial communities striving for managerial excellence in business and corporate management. BMA came up with a digital leadership summit 3.0 titled Winning in the Digital Age in partnership with AIMA (All India Management Association). This partnership is not only brought two team’s objectives together but also provided value to the larger management community and ecosystem.
Speaking on the occasion Ms. Prasanthi Reddy, President - Strategic Initiatives, YES Bank said; "Digitization of production and consumption has put data at the center of business decision making. Connected devices and people are generating enormous amounts of intelligence about products and their usage, which is allowing organizations to make more informed judgments instead of relying on the experience of their leaders."
Dr. Murtuza Khorakiwala, Managing Director, Wockhardt Limited said, "Digitization has changed marketing by opening more communication channels and giving marketers deep insights into customer behavior.”
R. Radhakrishnan Executive Director, Hindustan Petroleum Corporation Limited said; "Organizations use multiple digital channels for effective marketing and use consumer data to improve the brand experience for consumers."
Sanjay Kirloskar, Chairman & M.D. Kirloskar Brothers Limited commenting on the occasion said; "Indians are the second-largest users of apps in the world and largest users of social media. Digital consumption and online transactions are growing in popularity and every enterprise is expected to have an online presence. According to McKinsey, the Indian economy has the potential to grow by nearly half a trillion dollars by 2025 because of digitization alone. In this scenario, the digitizers of today will be the leaders of tomorrow. They are less likely to be destroyed by disruptions in their industries and more likely to win in a hyper-innovative environment."
Harshit Vyas, Chief Business Officer - India, OYO Hotels & Homes said "Merely digitizing business is not enough to survive disruption. It takes the creation of digital business to redefine the product, delivery, value, and consumer. While the conventional companies are digitizing to become more efficient, young entrepreneurs are recreating familiar businesses in digital form and overwhelming the established players. The digital natives are disrupting the supply chain and value creation and are taking away the market by offering unprecedented convenience, economy, and speed to consumers. The legacy businesses need to imbibe the spirit of the new generation to have a future in this fast-changing world."
Anup Purohit, Group President, and Chief Information Officer, YES Bank added; "Organizations should build a competitive presence in both the physical and the digital markets. Organizations that integrate their online and offline channels reinforce each other channel's sales."
The conclave was attended by more than 200 plus delegates from across the country. DLS 3.0 approach was simple yet gave out complete insights in today's digital wave in almost all industries.