Four lessons Kumar Mangalam Birla offered to IIM-A grads

New Delhi: The pandemic and the past one year have shone a spotlight on not just the role of governments but of societies, companies, and individuals in creating better outcome, Kumar Mangalam Birla, chairman of the Aditya Birla Group said Saturday at an IIM-Ahmedabad event.

Birla who is also the chairman of the board of IIM-A shared four lessons with the graduating students of the top B-School on how to be successful, compassionate and multidimensional. Speaking virtually at the convocation event of IIM-A he also said, “I don’t see IQ and EQ as binary qualities, but rather as complementary traits that make a personality wholesome.” Here are the four messages:

First and foremost, define your North Star: The pandemic and the last 12 months have again shone a spotlight on not just the role of governments but of societies, companies, and individuals in creating better outcomes for all of us. This is a period of short forecast horizons and amplified ups and downs. And therefore, a more important time than ever to define your principles and set your heading. Where do you fit in, and what do you want to be known for? Now is a good time to mull over and define the answer.

Second, Experiment in your 20s: While your North Star is clearly in your sights, in the short term, the 20s should be the discovery phase of your next chapter. As a wise businessman once said, “Risk taking is inherently failure-prone, otherwise it would be called sure-thing-taking.” I feel that too many management graduates enter the corporate world with a ‘this is what I want to do’ attitude. When I say experiment, I don’t necessarily mean start your own business or company. Rather, Work in a factory, work in a different country, work in diverse sectors, work across unfamiliar functions. The opportunity cost of experimenting rises sharply as you grow in your career. So, start early and experiment. Be impulsive. But temper your impulsiveness with creativity and positivity. Be thoughtful of what you want to focus on and what is the common thread that strings together your experiments and experiences. Which brings me to my next connected point.

Third, Build your personal flywheel: It was legendary artist Vincent Van Gogh who had remarked that “Great things do not just happen by impulse but are a succession of small things linked together.” Your personal flywheel is nothing but your own set of cumulating personal experiences. Think about experiences as units of learning. The more units you can accumulate in a year the more valuable you become. The sooner you start accumulating, the more you accumulate Page 4 of 5 as you go along, as the power of compounding kicks in. Remember, your ability to learn is elastic by nature.

And finally, add emotion to IQ: I know all of you have burnt the midnight oil over the last 2 years solving complicated business problems. The reality is that you can’t build businesses with spreadsheets. The most detailed business plans this year unraveled in the face of factory workers falling sick. Supply chains came unstuck as the migrant labour silently powering them retreated to their communities. Therefore, don’t get unidimensional in the way you think. You need to add other dimensions to your thinking, most importantly, of empathy and humility. I don’t see IQ and EQ as binary qualities, but rather as complementary traits that make a personality wholesome.