In the News
A Journey of Change
By Esther Bintliff
As excerpted from The Financial Times online, November 29, 2009.
"Under their regime, Indian Railways began sending its senior executives to a number of leading business schools, including New York’s Stern School and HEC in Paris. And in a further sign of his esteem for business education, in 2007 the minister created a professorial chair to research railway infrastructure and management at the Indian Institute of Management in Ahmedabad."
"Training now accounts for more than 2 per cent of Indian Railways’ total budget, up from 0.75 per cent two years ago. The scale of this spending demonstrates Indian Railways’ belief that its success depends in part on investment in human resources."
"Early this year, the state-owned group signed a five-year contract with the Indian School of Business in Hyderabad to send its senior officials to the school for a week of customised, residential executive training. The first workshop focused on developing strategic thinking, fostering a cross-functional perspective and managing complexity and was aimed at helping Indian Railways’ executives implement change."
"Change management is also a priority. According to Jaki Sitterle, Managing Director of Executive Programs at NYU Stern, the Stern’s customised course for Indian Railways is increasingly aimed at helping senior managers adapt to the radical shifts in the company’s performance and operations."
" 'Some of these managers are in charge of up to 200,000 employees,' says Ms. Sitterle. 'The scale is incredible. Content-wise, we’ve been responsive to their changing needs....At Indian Railways’ request we’ve placed more emphasis on leadership and change management, because of the major initiatives introduced in the last few years.' "
"Ms. Yechury [executive director of training for Indian Railways] is hopeful that the commitment to education will continue. 'I think no minister would want to change something that is achieving so much,' she says."
Read the full article at FT.com.