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| Sunday, 28 April 2002 |
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Business |  |
| News Business Features Editorial
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Beyond competition - Success strategies for the 21st century by Pelham Juriansz At a time when competition occupies the central stage of our economic as well as other aspects of life, it can be scandalous of a few to read that there can be life without competition. These sentiments were expressed by the speakers at the National Management Conference for the 21st century held in Colombo recently. The keynote speakers were Prof. M.J. Xavier from Calcutta who has more than 17 years of training from the Indian Institute of Management, Calcutta, and Prof. S. Ramachander of the Institute of Financial Management and Research and the Academy for Management Excellence. "It is true that optimisation (read "profit maximisation") resulted in the creation of larger surpluses for companies that fuelled further growth. This situation also led to an overall improvement in the standard of living across the globe. The down side of this development is that it has brought competition in every walk of life - among children, colleagues, neighbours, leaders and even spouses. The net result is the deterioration in the quality of life. Further, the advent of the information age has shattered several conventional business models and theories including competition. The emphasis has shifted from firm level profit maximisation to community level value maximisation. This brings together even arch-enemies in the traditional brick-and mortar world. The key terms used are co-evolution, co-operation and collaboration. There were discussions on the emerging post-industrial models that go beyond competition. Professors Xavier and Ramachander also discussed the 3Ems model developed by them Embarkation, Emulation and Emancipation. |
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