Tuesday, May 13, 2008

Lalu with Singapore Students

PATNA: After students of Harvard and Wharton, railway minister Lalu Prasad has now impressed management graduates of yet another of world's top 10 business schools. This time it was students of Institute d' Administration des Affaires (INSEAD) Asia campus in Singapore, who heard the Indian Railways' success story and Lalu's brand of management during a two-hour-long session.

"It was an impressive gathering of 500 management students, academicians, top executives of Singapore and other officials, including ordinary people. The session was extremely lively," said Professor Narayan Pant, head of INSEAD Asia campus on Monday over phone from Singapore.

When asked what prompted INSEAD to invite Lalu, Pant said, "The story of Indian Railways is very fascinating. Isn't it a fact that the railways which was teetering on the brinks of bankruptcy five years ago was transformed into a huge profit-making venture by Lalu? This has definitely impressed the students of B-schools across the world and they are all keen to know the mantra of his success."

Pant said Lalu Prasad may not possess a management degree from any reputed institute, yet his managerial skill is intriguing. "How he provided financial teeth to the government's biggest department without retrenching a single employee or effecting any hike in passenger fares for the last four years tells a great success story of organizational change," he said.

The railway minister has also taught the world how in a seemingly complex political and difficult financial situation, change of such magnitude can be brought about, he added.

Ranjan Rituraj Sinh , NOIDA