Indian CEOs need to be "crazy" in order to keep pace with the rapidly-changing economy, according to Shoji Shiba, visiting professor at MIT, professor of business administration and dean of the School of Applied International Studies, Tokiwa University, Japan.
"Indian CEOs need to be abnormal and crazy because usual business model do not apply to India. You have to see what is invisible and prepare for 'breakthrough management' for the future which is today," he said at an interactive session organised by CII on Wednesday in Kolkata.
With this view, Shiba is also designing a crash course for Indian CEOs, which would teach them the "Indian way of management" in five-day programme, preferably in a secluded island without mobile phone connectivity.
The CEOs need to move beyond control and incremental management practices to breakthrough management, he said.
The concept of control management goes back to hierarchical structure of companies in the 1930s, which was followed by an era of incremental management, which is a process of continuous internal improvement.
However, in an era of globalistion there is a need for breakthrough management practices, which calls for diversion and expansion of domestic businesses to foreign terrains, along with more risk-absorbing capacity.
Shiba has worked with Indian companies like, Brakes India, Technova Imaging Systems, Godrej and Sona Koyo Steering Systems to teach total quality management practices to its employees.