The NMIMS Navi Mumbai held its first ever business conclave, Avion’18 on 24th February 2018. The theme of Avion’18 was “Exploring the Global Frontier”, delving into the present-day buzzword ‘Globalization’. A case study competition which attracted above 90 registrations from top B-schools across the country, was also a part of Avion’18.
Globalization has been the 21st century buzzword in the business world. The term “globalization” encapsulates an array of processes that collectively increase the scale, speed, and effectiveness of social interactions across political, financial, cultural, and topographical borders. The most extraordinary effect of globalization has been the amalgamation and expansion of world economy boosted by liberalization, capital flows, especially, FDIs spearheaded by MNCs, and reduction of tariff barriers. The globalization of technology has led to explosive growth of information exchange.
Now, in the aftermath of the global financial crisis, the nature of globalization is changing as emerging markets take on a larger role in the global economy. If anything, the so called “global financial crisis” drives home the fact that economies no longer exist in isolation. Cultures, economies, government policies and markets around the globe have always interacted and influenced each other. The new global economy of the 21st Century has transformed the economic, social, educational, and political landscape in a profound and indelible manner. Never before in human history has the tempo of transformation been more omnipresent, swift, and global in its context. The increase in the breadth and depth of connections between individuals, companies, nations and regions has changed the lives of billions of people.
In India from steel to Bollywood, from cars to IT, Indian companies are setting themselves up as powerhouses of tomorrow's global economy. The global arena is where the remarkable prospects lie but it is also where complexity and risk abound. Hence, gaining insights on global perspectives, focusing on finance and marketing, required for expanding beyond frontiers - was the major focus of our Avion’18. Our business conclave brought together a distinguished panel of industry experts who shared their trailblazing ideas and most-updated knowledge on new approaches to understand global challenges and reflected on paths forward.