Annual Convocation of IIM-K held

The key note address was delivered by the distinguished Chief Guest, Dr CK Prahalad. He
congratulated the PGP students and appreciated the efforts put in by parents and professors
in moulding the students. “India’s current financial success may hide its true potential”,
remarked Dr. Prahalad. He stressed that it is time for India to accelerate its growth by
reducing costs and improving the quality. He emphasized that the biggest worry for the
country is the growing income inequality due to rapid economic growth. Unless India embraces new ways of thinking, it cannot achieve its growth potential. Dr.Prahalad concluded his
address by advising the students to tread the path of innovation and entrepreneurship with
morality and honesty and transform their ideas into action.

On the occasion Prof. Krishna Kumar, Director, said, “We are the fastest growing IIM in the
country. We have achieved the target of 50 crore in revenues set by the central government
in just three years”.

Earlier in the day, Prof. Prahalad interacted with the students of IIMK. Various general
topics were discussed. Speaking on corruption, he went on to say that if there was anything
that will bring the nation down, it will be corruption. And as managers, the onus will be on
us to take a tough stance on corruption. Answering to a query on entrepreneurship, he noted
that no one is ever ready for entrepreneurship. Alikening it to a form of self-expression,
he added that entrepreneurship is always lonely and hence self-commitment is very critical
to every entrepreneur. Complimenting the dabbawallahs on their efficiency, he observed that
there are many other similar cases which are the epitome of efficiency but have not been
researched – like the rural beedi distribution network, for instance. It is upto us to learn
the finer nuances of management from them. As a parting remark, Dr. Prahalad said, “Create
the best practise; don’t worry about the best practise.