quot;Millennium a challenge for industryquot;

MUMBAI, Sept 19: The next millennium would be a great challenge for Indian industries, when the business environment would be globalised, hyper-competitive and continuously changing, said K Ramachandran, President, Philips India.

To achieve a sustainable competitive advantage, the social structure, organisational structure and individual8217;s role need to synergistically tackle the environment of the next millennium, he said while inaugurating the first HR convention Nirman 8217;988217; organised by the SIES College of Management Studies, Nerul, Navi Mumbai.

Meanwhile, the inter-collegiate case study competition for the SIES-Indian Express trophy organised by the SIES College was won by Jamnalal Bajaj Institute of Management. The Vivekananda Management College was placed second while Sydenham Management was third. Speaking on quot;Linking HR with business strategiesquot;, Ramachandran emphasised the importance of strategy in achieving business objectives. quot;A strategy should clearly define the why, what, how, when and whofor reaching to goal,quot; he said.