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There is need for adoption of unconventional and disruptive strategies among corporates to succeed in the present times, feel senior officials of organisations.
The panelists, at the first-ever HR Conclave of Vinod Gupta School of Management, IIT Kharagpur, also discussed disruption economy which enables companies to relook at how and why they work for redefining one's value proposition, purpose or product.
IDFC Bank, Director - HR, Prateek Dubey echoed Shah's thought and said, "Anything new causes culture to change and adapt, so does disruption."
Another key point of discussion among the panelists at yesterday's conclave on 'Harmonising with the Disruption Economy: Emotional, Cultural, and Generational Intelligence' was how young professionals are at ease with smart devices for harnessing the power of social media, an IITKGP release said.
While talking about 'disruptive innovation', Stryker Corporation Head Talent Acquisition, Kiran B Tandon spoke of innovation in medical science, citing the instance of brain tumour surgery without the need for head shaving.
The HR professionals also talked about present-day concepts such as 'Gig Economy', a labour market characterised by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.
Such instances have become an increasing trend, not just in the private but even in government sector. Job descriptions are also evolving in comparison to the past, the panelists said.
Shah highlighted how the conglomerate capitalised on disruptive technological advancements to attain the position where it is today.
He also described innovation as an integral part of the DNA of a company.
Vinod Gupta School of Management, set up by IITKGP has always taken the approach towards integrating modern innovation to management strategies, such as financial technologies and new operations technologies, the release said.
Moderator Ayan Pal said that the impact of young professionals using smart devices to tap the power of social media enables corporates to adopt unconventional yet effective strategic practices to succeed.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)