The BMI session of 17th March 2021 was lit up by a very energetic professional Mr. Umesh Phadke, President Director, L’Oréal Indonesia.
This session was really a very informative one, where Mr. Umesh, through his factual knowledge and expertise, was able to easily brief us about how should we go about in turning around businesses.
The session began with Mr. Umesh giving a short introduction about himself. He also mentioned that he has had 12 years of experience in Procter and Gamble. He considers P&G his second Management school, where he has had lots of experiences on turning around businesses. He had an excellent mentor there, who taught him on how each and every small development can actually turn around businesses drastically.
He gave insight on what he considers to be the Five Axioms of Business Turnarounds
Lessons learned over 25 years of growing & turning around business across ASEAN.
He spoke about the business drivers and how to allocate spending in order to help those business developments. The key thing he said about business drivers and spending allocation was that we should understand the situation. This helps us in analyzing how much we should spend to achieve what we have set out.
Mr Umesh summarized his points by asking us to understand the business deeply in accordance with the Vision. Have the right structure, right people, right policies and the right pay. Finally fuel the fire by eliminating the waste.
Finally he gave us the ten golden commandments of managing one’s carrer. This Ten Commandments of Managing our Career was something that Mr. Umesh has given us from his experience of the past 25 years. It has some key points on how netowking strategicallt can hellp any management graduate achieve great heights even if the market doesn’t do well. He said that it is our only career and only we can handle it. He also insited us to be patient , because the market will always pay the right price. And he even stated a marathi statements equvalent to “ Each and every drops we collect makes a pond” , by telling these he said that recognise and be effective with small tasks as well. Because all the small things we do today, leads us to a successful career in the long run.
The session ended with 20 minutes of Interactive questions and answers session, where the students had asked lots of questions on how to have less employee turnover rates and on longterm and short term profits.
Aparna Sojan, F20125
“Today’s BMI session was really informative and interactive as well. I personally liked the Ten commandments which was an Original concept from the speaker and I feel that each and every point given in the ten commandments are really true. And if any management graduate follows these commandments in the right way, I guess they can go a long way ahead.”
Minu Paul, F20145
“Today’s session was really good and informative. Mr Umesh was excellent in his delivery of the content that he has shared with all of us, out of his own experience I personally learned lots of things. Today’s session really taught me something that a curriculum will never teach us. Because all of what the speaker said was all out of his vast experience that he had in his long successful Career. Thank you BMI.”
Christy Joy, F20136
“The main point I liked was when the speaker had addressed all of us to understand the business deeply and to mainly focus on the fundamentals. The basic thing that one should always do is to focus on the fundamentals. If we build an organisation without strong fundamentals, it will affect the foundations of any business. Thus, the business might lose a solid structure, and without a right structure, there can’t be any sustainable development opportunities in the business. Mr Umesh was really kind enough to share all these experiences”
Simran Gupta, F20116