Business can bring life-changing inventions to society: GV Prasad

By | April 8, 2019

“Businesses can be a force for the good,” said GV Prasad, Co-Chairman and Chief Executive Officer, Dr Reddy’s Laboratories.

Graduation ceremony

He was speaking at the graduation ceremony of the 2019 batch at the Indian School of Business (ISB) on Friday.

“It can make life easier for customers, meet unmet needs, and bring life-changing inventions to society,” said Prasad.

Exemplifying further, he said the US was currently facing a nationwide problem of overprescription of opioid painkillers, which is leading to serious addiction to the drug.

“In stark contrast, we have also companies such as Merck in the US that literally gave away profits as they made their revolutionary treatment for river blindness available for free to approximately 18 million afflicted in West Africa and South America,” said Prasad.

Referring to the success of his own company, he said it was built on three pillars of science and technology, people practices, and good governance. The need for high-quality management professionals at every level in Indian businesses was ever increasing, said Prasad.

In his address, Rajendra Srivastava, Dean, said ISB was among the world’s top institutions with a focus on entrepreneurial research.

No 2 outside North America

“We are No 1 in India in research rankings with just 51 residential faculty. In per capita productivity of faculty, ISB comes No 2 among institutions outside North America.”

The class of 2019 comprises 598 students from Hyderabad campus and 285 from Mohali campus. With the graduation of class of 2019 from both the campuses, the alumni base of ISB will touch 10,700.

“This makes ISB the fastest growing business school in India to reach the 10,000-mark in a relatively short span of 18 years.

“ISB’s alumni are extant in over 42 countries across the world pursuing successful careers in diverse arenas,” the Dean said.

The chairman of the Executive Board of ISB, Harish Manwani, in his address, said the expectation about business and its role in community development were fast changing across the world.