Coimbatore : The Coimbatore Management Association (CMA) conducted its 64th annual general meeting, here at the Southern India Engineering Manufacturing Association (SIEMA) building in the city, on Monday.
Coimbatore : The Coimbatore Management Association (CMA) conducted its 64th annual general meeting, here at the Southern India Engineering Manufacturing Association (SIEMA) building in the city, on Monday.
S Prashanth, CMA President delivered the welcome address and N Krishna Kumar presented the annual report of CMA. Before the annual general meeting started, a special talk on the topic 'Relevance of Management in Today's Business' was delivered by R Jayakanthan, Director- People, Process and Strategy, Elgi Equipments.
In his speech, he explained how business has transformed over the years. "Hierarchical structure of management has changed to flat organisational structure which we see as a transformation in today's business. Every employee in the organisation is responsible for the improvement and development of an organisation.
He further added that the expectations of a new generation is changing and changing of world, workspace and mindset of employees is the evolution of management.
He pointed to the 5-trillion economy dream that was to be achieved by 2024. "Around 12% growth rate is required to achieve a 5-trillion economy by 2024. As of now we are between 2.5 to 2.7 trillion economy. Since industries are growing much faster than the past, we hope that we do achieve a 5-trillion economy."
He also added that 'Service' will dominate the 5- trillion economy since around 60% of contribution would be from services while agriculture and manufacturing sectors will share 20% between them.
Students from various institutions attended the event which included a special interactive session with the speaker Jayakanthan.
S Prashanth, CMA President delivered the welcome address and N Krishna Kumar presented the annual report of CMA. Before the annual general meeting started, a special talk on the topic 'Relevance of Management in Today's Business' was delivered by R Jayakanthan, Director- People, Process and Strategy, Elgi Equipments.
In his speech, he explained how business has transformed over the years. "Hierarchical structure of management has changed to flat organisational structure which we see as a transformation in today's business. Every employee in the organisation is responsible for the improvement and development of an organisation.
He further added that the expectations of a new generation is changing and changing of world, workspace and mindset of employees is the evolution of management.
He pointed to the 5-trillion economy dream that was to be achieved by 2024. "Around 12% growth rate is required to achieve a 5-trillion economy by 2024. As of now we are between 2.5 to 2.7 trillion economy. Since industries are growing much faster than the past, we hope that we do achieve a 5-trillion economy."
He also added that 'Service' will dominate the 5- trillion economy since around 60% of contribution would be from services while agriculture and manufacturing sectors will share 20% between them.
Students from various institutions attended the event which included a special interactive session with the speaker Jayakanthan.