Porter Prize recognizes the Strategic Acumen of Corporates in India

Indian Corporates celebrates of Strategy & Competitiveness

New Delhi, India, Saturday, October 12, 2013

Highlights

  • Porter Prize 2013 organized by Institute for Competitiveness, India, in its second edition, came out to be a stupendous success
  • In total Seven companies, certainly the best companies in their industry were declared as the Porter Prize winners in the six categories
  • Indian Corporate’s You-Name-Him/Her CXO’s and distinguished celebrities from the government, bureaucracy and media attended the event
  • The awards were preceded by three thought-provoking panels on Industry Dynamics and Architectural Shifts, Tradeoffs and Choices and on Fit and Synergies
  • Bishop William Lawrence University Professor Porter shares his views on creating shared value

Porter Prize was successfully held on October 11, 2013 at The Leela, Gurgaon. It is named after the renowned thinker, Harvard faculty member and Father of the modern strategic field Professor Michael E. Porter. It commenced with three panel discussions. Followed by a talk by the Strategy Guru Michael E. Porter where he addressed the Indian corporates and delivered an intriguing speech. It was then followed by the award ceremony wherein Padamshree recipient Dr Pritam Singh and Shri Uday Pratap Singh, Honourable Member of Lok Sabha gave awards to the Porter Prize winners. The companies that made it to the winner list are

  • GroupM Media India Pvt. Ltd. won the Porter Prize for Leveraging Unique Activities for their effective rendering of activities across the value chain that gave them a competitive advantage
  • Narayana Health won the Porter Prize for Industry Architectural Shift for redefining the industry structure by challenging the very basis of competition and creating new as well as effective business models
  • Uninor won the Porter Prize for Exploiting Trade offs for making choices that made their strategy sustainable and because of which they were able to create barriers pertaining to emulation
  • Sealed Air won the Porter Prize for Creating Distinctive Value for offering unique solutions to their customers and effectively creating a new market spaces and segments
  • Rallis India Ltd. and Godrej Industries shared the Porter Prize for Creating Shared Value as both of them, created economic success by redefining markets, products and in creating societal and economic progress
  • Apollo Gleneagles Hospitals won the Porter Prize for Value Based Healthcare for redefining the idea of patient care and fundamentally challenging the economic models within the industry

To know more about the Porter Prize 2013 Winners, visit http://www.porterprize.in/winners-2013/

The event started with thought provoking panel discussions on strategy and shared value wherein many renowned CXO’s of various National as well as International companies, operating in India, shared their ideas and views. Some of the prominent speakers were Ravi Varanasi (Chief-Business Development, NSE), Moses Manoharan (Editor-in-Chief, Global Dialogue Review), Gerd Hoefner (MD and CEO, Siemens Technology and Services Pvt. Ltd.), B K Sethuram (VP, Dow Coatings and Construction, Dow India), Pankaj Phatarphod (MD, RBS), CVL Srinivas (CEO, Group M, South Asia), Ravi Begur (Head IT & Sustainability), V Shankar (MD, Rallis) etc. Subsequently Nadir Godrej (MD of Godrej Industries and Chairman, Godrej Agrovert) and Dr. Devi Shetty (MD, Narayana Health) addressed the corporates.

Professor Porter delivered an extremely persuasive talk that illumined the audience mind on what precise role business ought to have. Averring his firm belief in governments world over and in various NGOs, he stressed the need for business to go beyond the low impact usual philanthropy mode of Corporate Social Responsibility and delve in the realm of creating shared value. He made an emphatic case of businesses to identify social problems, build profit-generating self-sustaining business models that solved these problems, and then scaled up the same. Economic Value Creation is what businesses have to do, as almost 85% of societal resources are managed by them. He exhorted Indian businesses to gain sophistication and raise the bar, if India has to set exemplary leadership model for the world community. Prof. Porter expressed delight on seeing the legacy of Porter Prize carried on, expressing his urge to shake hands with the winners.

Dr Devi Shetty outlined Narayana Health’s crusade in providing affordable high quality healthcare services to Indians. The audience gave an appreciatory response to his talk of bringing an 800 $ heart surgery to the patients; wherein he hinted at one-third India being genetically prone to heart issues. His practical hands on approach to making state of the art healthcare possible for all beyond affluence, as in having 300 bed hospitals built at nominal 6 mn $ investments was an eye opener. The commitment to such noble cause was indeed laudable.

Mr Nadir Godrej brought a whiff of freshness, taking the prosody mode, a full thrilling and striking poetic imagery laden talk that was replete with mature humor and purposefulness Godrej group has demonstrated in carrying the social charter forward.

Padamshree recipient Dr Pritam Singh, the Chief Guest, highlighted the unmistakable role leadership possessed in today’s economy; talked of crises of ethical governance, ecological imbalances, and water scarcity and cautioned CEOs from adopting a General Manager’s agenda. He also questioned the rationale of disproportionate compensations for CEOs. He shared a beautiful analogue for leaders – to be able to hear sounds of unborn children and to be able sense sunrays warming petals of flowers.

Shri Uday Pratap Singh, Honourable Member of Lok Sabha, in his characteristic frank style, talked of what competitiveness should mean for India – to be able to provide fundamental amenities and services to all citizens, of whichever economic or ethnic background. He asked for honest governance by representatives and sought corporate’s active participation in controlling burgeoning population.

Dr K Ramamurthy, CEO, Projects , Emaar MGF Land Ltd. as a key speaker in the panel discussion on ‘Fit and Synergies’ said; “We have to see that people matter in our organization. We have to foster personal growth and be an organization which makes a difference. We can beat competition by retaining talent. It’s a combination of this, which is important. We at Emaar MGF are delighted to partner such a prestigious event, and look forward to being associated with it in the years to come.                                                                                                                                                                                                                                                                               

Dr. Amit Kapoor, Institute for Competitiveness, India gave the closing remarks by thanking Professor Porter in being a core part of Porter Prize 2013 event and to the entire Institute for Competitiveness family for putting in the efforts to come up with such a grand and successful event. He shared the robustness of the process in shortlisting the most deserving applicant firms against various categories of the prize. A profuse thanks was expressed to Prof Porter for delivering an amazingly inspiring talk and for responding to various questions at length. He ended the ceremony with the statement “Let India’s Competitiveness Surge by Leaps and Bounds”.

About the Institute for Competitiveness

Institute for Competitiveness, India is the Indian knot in the global network of the Institute for Strategy and Competitiveness at Harvard Business School. Institute for Competitiveness, India is an international initiative centered in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy, as pioneered over the last 25 years by Professor Michael Porter of the Institute for Strategy and Competitiveness at Harvard Business School. Institute for Competitiveness, India conducts and supports indigenous research, offers academic and executive courses, and provides advisory services to the Corporate and the Governments. The institute studies competition and its implications for company strategy; the competitiveness of nations, regions & cities and thus generate guidelines for businesses and those in governance; and suggests and provides solutions for socio-economic problems. (http://competitiveness.in)

Note to Editors

For more information on Porter Prize, please visit the Porter Prize website: www.porterprize.in

In case of any query please write to neera.vohra@competitiveness.in and contact at phone no. +91 9810473213.

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