Institute of Management Technology (IMT) organised a day long International Conference on Organizational Effectiveness in Economic Slowdown on February 19, 2009 at Taj Mahal Hotel, Mansingh Road, New Delhi. The Conference was inaugurated by Dr. Robert J. Aumann (Nobel Laureate in economics and key note addressed by Mr. Kamal Nath, Honourable Minister for Commerce and Industry. Mr. Kamal Nath says, in this economic slowdown, Indian economy is much better than western countries economy,the main cause behind this is our economy mainly depend upon Domestic Demand Depend economy growth. He also suggests that liquidity must be converting in lending. Addressing the audience, Dr. Robert J. Aumann says, govt, firm, individual and media take steps only for good remedies in economy slowdown. He also suggests to individual to sit tight in economy slowdown and wait for good days.
The Conference was a conglomeration of thinkers and practitioners including a Nobel laureate, spiritual guru, eminent economists, tech guru, and practitioners. Dr. Robert J. Aumann (Nobel Laureate), Prof. B.B. Bhattacharya (Vice Chancellor, JNU), Swami (Dr.) Parthasarthy (Pro-Chairman, UN OECD - APDI), Prof. V. N. Rajasekharan Pillai, (Vice Chancellor, IGNOU and Chairman, DEC) , Dr. Subir Gokarn, (Chief Economist, Standard and Poor’s, Asia Pacific), Mr. Ankit Fadia (World Renowned Cyber Security Expert) Mr. Prakash Kumar (Director, Internet Business Solution Group, CISCO), and Mr. Anand Rajaganesan, (Director, HR, Organisational Effectiveness Vertical, HCL Technologies Ltd) , Dr. A.M. Sherry, Dean(IMT-CDL were amongst the eminent speakers at the conference. Dr. A.M. Sherry welcomed to the guests.
In his welcome address Dr. A.M. Sherry says, The International Conference organized by IMT helped exchange of ideas, to chalk out strategies to improve the performance of industry and to look at the positive side of slowdown when there is, in general, a pessimistic attitude towards economic activities happening around us. In reality economic growth takes place in upswings and downswings but it is very difficult to predict when an economy will register a downturn or the extent of time it will take to show an uptrend. In the past few months a phenomenal decrease in sales and demand from services sector has been a cause of concern for industrialists and professionals. There have been layoffs, piling up of inventories, decrease in investment, dip in campus recruitments, and slash in salaries. Spending by investors has reduced due to apprehensions that stock values will fall.
This period of gloom is a litmus test of efficiency of firms, both large and small. Those who think innovatively will be the leaders and others would be laggards. The Conference was very benefited to entrepreneurs, consultants, academicians, students and research scholars. It will provide an insight to the participants, on how to manage turbulences in an organization in wake of global economic slowdown, to look for opportunities for growth amidst global meltdown and to delineate the role of Information Technology during Economic Slowdown.