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IMT Hyderabad organizes Leadership Series
Highlights
Institute of Management Technology, Hyderabad organized Leadership Series on December 30, 2015.IMT, Hyderabad believes in the overall development of its students by making them responsible and innovative leaders with a global mindset and a holistic perspective.
Institute of Management Technology, Hyderabad organized Leadership Series on December 30, 2015.IMT, Hyderabad believes in the overall development of its students by making them responsible and innovative leaders with a global mindset and a holistic perspective.
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The institute aims to train knowledgeable, principled, skilled, and innovative leaders and seek to create responsible citizens who understand and implement sustainable business initiatives through strong industry linkages. The institute provides students with various platforms to connect with industry professionals. It helps them to build networks with them and get the unique opportunity to gain useful insights into the real business world.
The third session of the Leadership Series was conducted by Mr. Chirag Mehta, CFO, BiologicalE Limited on ‘Finance in Pharmaceutical Industry’.Biological E Limited is the first private sector biological products company in India and the first pharmaceuticals company in South India, established in 1953.Mr. Chirag Mehta has formerly worked as a Head of M&A, Morgan Stanley (May 1999- Jan 2006).
In the interaction with the first year students of IMT Hyderabad, Mr. Mehta spoke about the role and functions of finance department in any organization. He shared about his experiences of being the Chief Finance Officer of BiologicalE Limited. Mr. Mehta identified the CFO of any organization as the co-piolet of the Chief Executive Officer(CEO). He told how any decision in an organization is taken on the basis of information provided by the CFO and the finance department.
Mr. Mehta also threw light on the traditional finance function and the shift in the perception for finance in the business world. Earlier, finance department was referred as scorekeeper, now, it is called a strategist. Finance department is involved in all the essential day-to-day decisions of an organization and provides valuable inputs in formulating long-term strategies. Mr. Mehta explained how finance focusses on value creation and governance nowadays, rather than just explaining numbers and book keeping.
The students were enlightened about the vision of finance i.e. to provide meaningful and interpreted financial information with a focus on key business drivers to make timely decisions and to provide agile and efficient financial systems that enables finance to be a business partner.
Mr. Mehta also mentioned that the aim of any pharmaceutical industry is to develop research and distribute vaccines for the healthcare of the society. BiologicalE works with the objective of providing essential and lifesaving Vaccines and Pharmaceuticals to UN Agencies viz.UNICEF, Pan American Health Organizations, other global markets and within India to Central and State Government Hospitals, Public Sector Undertakings, the Indian Armed Forces and the domestic retail market at lowest prices.
The session ended with question and answer session where students asked their doubts related to finance in Pharma and gained crucial insights about the structure of the pharma industry. The real industry experiences shared by Mr. Mehta proved to be extremely useful for any management professional.
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