IIM Ranchi, ABVCLPG organized a webinar on “Leadership Series-1 Business growth in the shadow of a ‘Black Swan’ event: The COVID Crisis”
A webinar on “Leadership Series-1 Business growth in the shadow of a ‘Black Swan’ event: The COVID Crisis” was organized by the Atal Bihari Vajpayee Centre for Leadership, Policy and Governance (ABVCLPG), A Centre of Excellence of IIM Ranchi.
Prof. Shailendra Singh, Honourable Director of IIM Ranchi welcomed the speakers and expressed his gratitude to speakers for opening their horizons of knowledge at IIM Ranchi. He further outlined the activities conducted by ABVCLPG Centre.
Mr. Abhijit Banerjee-Managing Director, Linde India and Mr. Arun Balakrishnan- Non Executive Independent Director, Linde India were the key speakers for the event.
Mr. Abhijit Banerjee gave a brief introduction of the company. Linde India is the world’s largest company in industrial gases. He explained about the fascinating world of gases. Industrial Gases are used for jewellery touch, optics, beverages, paper, detecting food fraud, heart surgery and transplant, helps us explore spaces and universe. And above all without gases, we won’t be using mobile phones.
During the months of pandemic there was an extensive use of medical oxygen in private and government hospitals which was supplied by Linde India. Since industrial gases is essence of all the business, pandemic impacted the quantum and contribution of every sector it touched. They are the enabler to other companies. Industrial gases were critical in pandemic which was even recognized by central and state government.
The pandemic provided the company with good opportunity in digitization and efficiency in developing tools, making processes more efficient. In the months of pandemic, the company aspired to a goal of ZERO incidents across their operations in addition to supporting their customers in achieving their safety goal.
He further mentioned about the merger between Linde AG and Praxair Inc. The merger was a true merger through exchange of shares. After merger, Praxair Inc. changed its name to Linde. Both the companies were equally sized having its presence in various countries. It was a seamless transition which was done in phases. None of the customers had any issues with mergers that shows the company supported by its customers.
Mr Arun Balakrishnan explained the role of Non-executive independent director. They are like the third eye of the organisation acting as a watchdog whether the company is adhering to its standards or not. Their role is to look after the position of company is robust and whether the employees are paid well. The independent directors do not have a stake in company’s shares and have no direct relationship with the company. They are being held responsible by the central govt and SEBI if any promoters are cheating and for any fraud the company encounters.
The company is cautiously optimistic in the medium to long-term outlook in times ahead. In every challenge the company is prepared for possible avenues to drive profitable growth by focusing on its customers, leveraging technology, propagating new gas applications and a continuing focus on safety and customer experience.
In the future the company plans to prioritize the business opportunity. They want to provide the best possible service to our customers and deliver them a great customer experience. Even today the sales volume is much higher in October as compared to January in terms of medical oxygen.
Prof. Rekha Singhal, IIM Ranchi welcomed the speakers and coordinated the Q and A session. Finally, the webinar ended with a vote of thanks presented by Prof. Nitin Singh, IIM Ranchi.
In the end, he summarized the value of management and managerial skills and efficiency and resilience.