IIM Ranchi launches Executive Program for entrepreneurs

Mail News Service

Ranchi, July 21: Indian Institute of Management (IIM) Ranchi has launched an executive development program to engage and empower entrepreneurs in the region. The inauguration ceremony was marked by a keynote address from IIM Ranchi Director, Prof. Deepak Kumar Srivastava, who also felicitated young entrepreneurs.

“Management is both an art and a craft,” said Prof. Srivastava, while addressing participants. He emphasized the relevance of management in the context of the LPG era—liberalization, privatization and globalization—and how it has transformed the world in the 21st century. “Science explores the cosmic world but management operates in the real world. Experience matters in today’s age,” he added.

He also cited Harvard Business School as a model of co-teaching and structured classroom management. Prof. Srivastava stressed that management pedagogy is not just about finding answers to complex problems but about learning to ask the right questions. He underlined the importance of smart classes and multiple-choice assessments for developing practical skills.

“Scholars and business professionals both play a crucial role in the corporate world,” he remarked, distinguishing between academic knowledge and practical literacy in research, finance and academics.

Executives from Hindalco and Tata Motors also shared their corporate experiences. A Hindalco MBA executive described networking as a vital aspect of the corporate world, while an XLRI alumnus from Tata Motors shared insights into executive management and business challenges.

Javesh Pawar from Hindalco elaborated on greenfield copper refineries and the session also covered the process of bauxite dissolution and aluminum production.

Prof. Srivastava concluded by outlining IIM’s three key events: Foundation Day (celebrated annually on December 15), convocation and management conferences.