Forty young managers of Dempo group companies, were participants in an innovative business management workshop, facilitated by a faculty from the All India Management Association (AIMA) recently. The programme uses AIMA’s business simulation computer tool called ‘Chanakya’, and aims at nurturing business acumen and strategic skills of managers.
Arranged by Group HR Head Dr. Krishna Gopal Rajanala, the managers at this absorbing exercise included executives from V S Dempo Holdings Pvt Ltd, Goa Carbon Ltd, Dempo Industries Pvt Ltd, Dempo Shipbuilding & Engineering Pvt Ltd, Goa Medical Research Pvt Ltd, Devashri Nirman LLP, Modest Infrastructure Pvt Ltd and other concerns.
Participants attended the two-day, full-day event on the 1st and the 2nd February 2019 at the Regal Hall at Hotel Crown, Panaji, along with their laptop computers each.
The programme covered areas of business and business policy that are special to DEMPO.
The participants are able to:
- Experience practical examples in the areas of corporate governance leading to Entrepreneurial approach, ethics and sustainability with business growth
- Comprehend operative and strategic decision making process under constraints of time, resources and information.
- Get a comprehensive understanding of the financial impact of their judgement, action and execution.
- Understand cross-functional relationships and roles among various management functions leading to planning, execution and review of business growth.
- Build up competitive cutting edge essential in today’s market behaviour.
- Get exposure to experiment to gallop a company in a competitive simulated environment without causing damage to a live company.
- Find out rationale of their action correlating with finance and economic environment.
- Sensitizing themselves about human behaviour while working together as Leader or a follower.
- Appreciate significance of collective participation for achieving a common goal.
- Get a synoptic view of a company’s operations.
- Thinking in entrepreneurial perspective – Vision and Mission
- Identifying issues of concerns
- Optimization of resources – Machine (capacity), Material, Money,
- Importance of data analysis
- Applying strategy into Action Plan, execution (decision) and review
- Rotation of responsibilities to ensure versatility.
- Basic concept of cost effectiveness
- Understanding financial statements and utility
- Prediction of market probabilities – tackling uncertainties
- Assessment of Vendor’s terms and conditions
- Tendering process
- Management of Fund flow
- Concept of Demand and Supply assessment in cut throat competition
- Application of statistical and mathematical concepts
- Concept of depreciation
- Inventory management
- Realization of risk factor in the business (Calculative Risk)
- Approach to lead or follow
- Behaviour – Submissive, democratic, authoritative, persuasive, etc
- Knowing financial and business terminologies
The Programme made such an impression that we had immediate feedback from participants, one of whom wrote –
We all enjoyed the two-day workshop, lots of learning, very good group activity, healthy competition! We had to use various skills like production capacity expansion, production planning, costing, purchase and inventory management, cash flow management, acquisition and expansion decisions, marketing management, new product launching to be part of simulation game to maximise the profit. Very interesting! I look forward to such assignments in future!