NEW YORK CITY, NY (TIP): Indian CEOs are best at improvisation or jugaad culture which is unique as well as remarkable, said Professor Nitin Nohria, Dean of Harvard Business School. Prof. Nohria was speaking at the second ‘New India Lecture’ series at the Indian consulate in New York on February 26. Eminent journalist Bobby Ghosh moderated the session.

In his brief welcome address Consul General Ambassador Sandeep Chakraborty explained the significance of the lecture series, which will be held on fourth Monday of every month. “We are exchanging visions for creating a new India – India of our dreams”, he said.

Speaking on ‘Doing Business in India – The Good and the Bad’ Professor Nohria touched upon all aspects of corporate culture in India. “Findings of a study on how Indian CEOs practice leadership are very compelling and connect with my own experiences. The thing that Indian CEOs are best at is improvisation or jugaad as we call it. This is the unique quality in India, it’s a remarkable capacity”, he said. But he also explained why jugaad can’t take the place of established systems. “Too often, our conversations tend to focus on the extremes. It’s like punditry on the Indian cricket team. They’re either so good that can’t get beaten or they’re in their worst form. We need to be able to focus on the middle. So, my comments on jugaad culture should not be misunderstood as pessimism. But then, jugaad cannot take the place of established systems and processes either”, he further added.

Professor Nohria also explained how the corporate culture of USA is different from India’s. “In the US, the relationship between employers and employees is very transactional. In India, so many family businesses dominate the Indian landscape that the employer- employee relationship becomes one of familiarity. They (employer) begin to think of the business itself as their Parivaar.”

“For many Indian business owners, these are people whose mission for the company is more than just to create shareholder value. American leaders are preoccupied with creating shareholder value. In India, the firm is seen by most people as an instrument for society”, he further explained.

The event was followed by a Q&A session. The next ‘New India Lecture’ series will be held on March 26 where Hussain Haqqani, who served as Pakistan’s ambassador to the United States from 2008-2011, will deliver the lecture.

The response to the lecture was tremendous, with a roomful attendance.