Bangalore: Imagine bidding for Infosys mentor N R Narayana Murthy or Biocon Limited CEO Kiran Mazumdar Shaw just to spend a day with them. The management students of Indian School of Business (ISB) are willing to pay any price to spend a day with their favourite CEO through a unique initiative called ‘Shadow a CEO’.
The Hyderabad-based ISB aims to connect the CEOs and students through the initiative. Participating students will bid in an online auction. Funds raised from the auction will then go to a NGO of the CEO’s choice. This will fulfil two aims — involvement of corporate India in a social cause and a networking opportunity between current and future business leaders of India.
In case a student fails to win the bid, then the money will be returned. ‘‘It is designed by the students to combine a business goal and a social cause. It allows students to understand the importance of doing business that not only helps an individual but society as well,’’ Ajit Rangnekar, dean, ISB, told TOI.
This initiative has been designed to participate in the ‘Joy of Giving Week’, a national movement. The programme is open to all the 575 students of ISB.
‘‘It has attracted a lot of appreciation from the industry leaders and we are getting a high rate of confirmations. We are on 20 now and we expect to reach 30,’’ Ajit said.
Bidding process will include an open auction online for all ISB students. Each student will compete with other students in bidding for a CEO of his/her choice. Bidding will be open for a limited period. Top three bidders for each CEO will be shortlisted. They will be asked to give a Letter of Intent on why they are bidding for a particular CEO.
A panel comprising faculty and administrative members from ISB will review the letters and decide on who is the most deserving student to shadow the CEO.
After winners are announced, CEO can match the amount raised by students or give more. Funds raised from auction will go to an NGO of the CEO’s choice. Date for bidding process is from September 21-23.
Ashish Pedaprolu, student of ISB, hoping to win the bid so that he can spend a day with the CEO. Though N R Narayan Murthy is his favourite, he is fine with anyone in the IT sector. “I am excited and looking forward for the bidding. I would love to spend a day with NRN but I am open to with any CEO from the IT industry.”
And how is he arranging money for the auction? “I am trying to get the money from professional and personal contacts. I have managed to arrange for a few thousands. It’s still at an early stage,” Ashish said. This management student has already planned how to spend a day with the CEO.
Admitting that he will be “disappointed” if he loses, he said, “A day with CEO will be a high value addition in my career. However, if we lose, the money will be returned to us.”
Arpita Shanker, who is also participating in the auction, too wants to bid for NRN. “He is a self-made man. I want to learn from him on how to be a CEO and yet remain so humble. I also read his book ‘Better India, Better World’ and loved it. It would be great to spend a day with him,” Arpita said.
On arranging the money, Arpita said that she will borrow money from her family, who is willing to help her. She too, like Ashish, has plans on how to spend a day with CEO. “I want to know the CEO’s agenda for the day and see how the CEO deals with people,” she said.
Arpita added that in case she loses the bid, she will get the info from the person who wins the bid and gets a chance to spend with a CEO.
source: TOI