Key HCL MBA M-Prize News Facts:
- Any business school student enrolled in a master’s or doctoral program can enter the contest – either individually or as part of a team. To participate, students can join the MIX, register online and simply follow the idea submission guidelines
- Interested contestants have one week left to submit their ideas for evaluation as the deadline for closure of the first phase of the contest is March 21, 2011
- The winning idea or “hack” will be implemented as part of a real-world management “experiment” at HCL, which has set aside $50,000 to fund the winning “hack.”
- The competition is being supported by faculty at leading schools, including U.C. Berkeley, IESE, INSEAD, IMD, London Business School, MIT Sloan, Stanford, and Wharton. Several professors are integrating the contest—and the MIX—into their coursework
- As part of the competition, contestants advancing to the final round will have a chance to interact with the MIX’s panel of judges
- An illustrious panel of six acknowledged management visionaries and thought leaders will assess and evaluate the entries and select the winners, to be announced on May 2, 2011
The panel includes:
Julian Birkinshaw – Professor of Strategic and International Management at London Business School and co-Founder and Research Director of the Management Lab (MLab).
Dr. Gary P. Hamel – one of world's leading experts on business strategy, a visiting Professor of Strategic Management at London Business School since 1983and author of “Leading the Revolution.”
Umair Haque –Director of the Havas Media Lab, author of “The New Capitalist Manifesto: Building a Disruptively Better Business” and HBR blogger.
Polly LaBarre – member of the original editorial team at Fast Company, bestselling author of Mavericks at Work: Why the Most Original Minds in Business Win and anagenda-setting writer, speaker, and television correspondent.
Anoop Tiwari, Executive Vice President – Human Resources, HCL America
Vineet Nayar – CEO and Vice Chairman of HCL Technologies, a $3 billion global IT services provider, the author of “Employees First, Customers Second: Turning Conventional Management Upside Down” and an HBR blogger, Nayar will serve as an honorary judge and help select the contest finalists.
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“Organizations today face an array of daunting challenges that lie outside the performance envelope of management as usual. Increasingly, managers around the world recognize that their legacy management practices are inadequate or even toxic in light of these new challenges. They know that deep change is too often crisis driven; that game-changing innovation is all too rare; that most employees are not bringing the gifts of their creativity and zeal to work everyday, and that social responsibilities are too often embraced reluctantly rather than eagerly. Millions of managers around the world are eager to change these things, but aren’t sure how. The HCL MBA M-Prize is not an intellectual exercise or a theory. We are looking for ideas we can test and make work in real organization. We are looking to re-invent the future of management by seeking new ideas from MBA students.” – Gary Hamel
“HCL embraces the opportunity to support the MIX as it has the potential to become a vibrant source of innovative new management ideas. Corporations are quickly learning that the hierarchical approach – based on command and control – has become outdated and counterproductive to information sharing, ideation and problem solving. And in my interactions with students, I am surprised at the diversity of perspectives that they can bring to the table. So the HCL MBA M-Prize is able to fuse together the creative minds of students in addressing some of the more difficult problems facing managers and businesses today.” – Vineet Nayar
The deadline for HCL MBA M-Prize submissions is March 21, 2011. All interested contestants have one week left to submit their ideas for evaluation. About 10 finalist teams will be selected after April 20 and winners will be announced on the MIX site on May 2.
In addition to the $50,000 experiment implementation funding commitment grand prize, the MIX will award cash prizes to the top three hacks ($5,000 to the winner and $2,500 to two runners- up), as well as $500 to each finalist.
All entries will be judged based on: clarity of thought and originality, potential for impact, feasibility of implementation, and popularity. Judges will provide targeted feedback to finalists as they refine their entries for the final round.
About The Management Innovation Exchange
The Management Innovation eXchange (MIX) is an open innovation project. The MIX is based on the premise that management is nothing less than the technology of human accomplishment which, after 100 years of incremental tweaks, now needs to be reinvented for a new age. Designed as a collaborative platform, the MIX brings together CEOs, academics, and management experts with executives and managers — indeed, anyone with ideas on how to make management better suited to cope with the 21st century, organizations that are as resilient, inventive and inspiring as the people who work within them. For more information, please visit www.managementexchange.com/
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First’ which empowers our 72,267 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 3.1 billion (Rs. 14,101 crores), as on 31st December 2010 (on LTM basis). For more information, please visit www.hcltech.com
HCL is a $5.5 billion leading global technology and IT enterprise comprising two companies listed in India - HCLTechnologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 77,000 professionals of diverse nationalities, who operate from 29 countries including over 500 points of presence in India. HCL has partnerships with several leading Global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’, ‘strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
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