On 19th August 2009, Great Lakes Institute of Management has signed an MOU with Industry giant Caterpillar to realize synergy and co-create value in the dynamic business environment.
Mr. Kevin Thieneman, Country Manager, India and S.E. Asia Caterpillar
Mr. Steve Rich, Human Resources Director for CAT India & South Asia
Dr. Ajay Shankar, Director of Global Engineering Design Center, India
Professor Veeravalli, inviting the guests for the event, remarked that the relationship between Great Lakes and Caterpillar is testimony to the fact that the levels of synergy between industries and institutions have reached a different plateau altogether. He noted that the relationship is not merely a piece of paper, but a long term strategic platform of corporate knowledge for both the parties to exchange ideas and best practices.
Dr. Bala V. Balachandran presented to the guests, anecdotes of Great Lakes success story. He coined the term ‘Cooptition’ to represent the synergy between competition and cooperation He contented that institutions cannot operate in isolation all by themselves but have to conscientiously squeeze feedback from the industries and reciprocate accordingly. He culminated his speech with remarkable profoundness- “Education at Great Lakes is not merely a financial transaction but an experience of a life time”.
Mr. Kevin presented to the students, culture of Caterpillar, the company’s initiatives, and its historical progression. Caterpillar’s visionary outlook and global perspective can be identified from the fact that over 70% of their sales flow in from outside US. It was a moment of triumph for Mr. Kevin as he observed that modern India is embracing ‘Free Trade’ more as a philosophy than an obligation. He shared his experiences of working with the Govt. of India as a part of sharing best practices form around the globe.
The auspicious occasion culminated with Professor Sriram’s delivery of ‘vote of thanks’. He expressed his pleasure over the event’s success and remarked that the relationship was in the making long since Caterpillar delivered their first guest lecture at Great Lakes back in 2005. He commented that Caterpillar’s forthcoming philosophy in establishing relationships with their suppliers and customers is inline with Great Lakes unique doctrine- Global mindset, Indian roots-, and promised that the integration of the two would be a great success.