Pratip Chaudhuri, the chairman of SBI was the first to arrive at the jury table. He was quickly joined by the chairman of India's largest FMCG company ITC, YC Deveshwar. Sunil Bharti Mittal, chairman of the country's most valuable telecom company joined the gupshup (chit-chat) soon. As the conversation on the economy turned intense, Nandan Nilekani, iconic businessman and chairman of the Unique Identification Authority made a timely entry.
Chandra, as he's called fondly, maybe the youngest of the group fit right into the group as CEO of the country's biggest IT company. Led by Network18 founder Raghav Bahl, the jury settled in. The jury was further joined just by the country's most renowned lawyer - Harish Salve. On the agenda of this hi-powered meeting of superstars was to pick 10 winners from among 50 nominees!
"Consistency is important; men from the boys are separated in adversity. So, I think it is a right year to look at a business leader. Because, when the times are good, when all boats are rising with the tide, it's very difficult to figure out a man from child. So, we are looking for consistency, looking at long term, approach to business. I, particularly and looking for a balance score card mentally," YC Deveshwar reiterated.
Explaining what makes a good leader, Nilekani said, "We are looking for leaders who despite the (challenging) environment around them, were able to deliver successful business, successful growth, lead from the front and motivate their employees."
But most of all leaders who epitomise integrity. After a tumultuous year of scams and corruption allegations against many in India Inc IBLA decided to underscore that integrity this year.
Salve said "The morality you expect from a PM is no more you expect from the head of a big corporation. Corporations are mini-governments today and represent the future of large generation or population."
"The country must lead in laying down high standards for the companies. That's really important aspect the matter today and that is how bold decision-making, giving priority to the right thing over the popular thing, which corporation do on time," Salve said.
The IBLA jury did the right thing after three hours of intense debate on how the leaders gauge performance and success. If Y C Deveshwar stressed on return on invested capital, Sunil Mittal bought to bear his experience on global boards. Nandan Nilekani was keenly searching for innovation. Pratip Chaudhuri, with one eye on the numbers, professed his admiration for global research.
"I think the jury was first of all constituted of very eminent persons and the entire structure of the jury and the awards was very good. The deliberations were delightful & awards & candid discussions & I think the jury came to very good conclusions," Sunil Mittal said.
According to Chaudhuri all the business leaders and Nilekani brought very new perspectives, but by and large, in most of the awards, there was near unanimity. "One or two names really jumped out of the window so to speak," he said.
Chandrasekaran said what stands out is the leadership. "At the end of the day, there are company would have taken the market conditions in their stride and then they have moved on and they have delivered growth, market values etc."
And only a few made that cut to find who will be walking the victory carpet on November 2.
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