A Corporate Strategy & Policy expert plays a pivotal role in the success of corporations by developing and implementing strategic plans and policies. Their expertise in analyzing market trends, evaluating competition, and identifying growth opportunities enables organizations to navigate the complex business landscape effectively. In this article, we explore the key responsibilities of a Corporate Strategy & Policy expert and the skills required to excel in this role. 

Deepika Gupta, a 12-year veteran at the Bombay Stock Exchange (BSE) Ltd, embarks on a new career path, recognizing the importance of continuous learning and self-improvement. With a strong desire for a PhD and the necessary qualifications, she seizes the opportunity to join IIM Bangalore’s esteemed Doctoral Programme in Corporate Strategy & Policy. Her alma mater plays a vital role in honing her skills and knowledge, and she expresses deep gratitude for the transformative experience. 

During her PhD journey, Deepika is privileged to collaborate with exceptional faculty members and supportive colleagues. Prof Rejie George, the Chair of her research committee, along with Prof Deepak Sinha, Prof K Kumar, and Prof Srinivasan Rangan of IIM Bangalore, deserve special recognition for their considerate and accommodating guidance. Interacting with diverse faculty members also ignites her passion for the education industry and deepens her understanding of the field. Ultimately, Deepika acknowledges the continuous inspiration and support she receives from a higher power, that is, The Almighty. 

Catalysts for Success 

Deepika’s qualifications as a Chartered Accountant and Company Secretary have been highly beneficial throughout her academic and professional journey. These qualifications played a crucial role in securing her job at Bombay Stock Exchange (BSE) Ltd., gaining admission to the PhD program at IIM Bangalore, and continue to be recognized and valued by Prof M Chandrasekhar, the Director of IIM Visakhapatnam. 

Having cleared the Chartered Accountancy exams in her first attempt in May 1997 and achieving the All-India 9th Rank in the Chartered Secretary exams in December 1998, Deepika’s accomplishments were acknowledged with awards such as the Saraswati Dhanuka Memorial Award for ranking first among female candidates and the Ghanshyam Das Saraf Memorial Gold Medal for scoring the highest marks in the ‘Corporate Tax Management – Indirect Tax’ paper in the Chartered Secretary Finals. The articleship experience during her Chartered Accountancy course instilled discipline, teamwork, punctuality, respect for time, adherence to laws, and meeting deadlines, all of which proved invaluable in her subsequent career. 

Her qualifications continue to be beneficial in the research work and Deepika can easily address queries raised by students across different programs. 

The Career Journey 

Deepika began her career at M/s Shah and Dhokia, a Chartered Accountants firm in Mumbai, working there for about three years. She then joined the Bombay Stock Exchange (BSE Ltd.) as a Management Trainee in 2000, during the time of Ketan Parekh scam. Working at BSE was a valuable experience for Deepika, as she had the opportunity to learn and grow in an organization that provided equal opportunities. She worked with a talented team of individuals, many of whom were either Chartered Accountants or MBA Finance graduates. After her stint at BSE, Deepika worked briefly at Finanza Capital Services Pvt Ltd before joining the Indian Institute of Visakhapatnam as an Assistant Professor in the Strategy Area. 

Working in the financial services industry, particularly in a stock exchange, gave Deepika a unique perspective feeling at the center of the country’s economic pulse. The advent of digitalization and automation has transformed the industry, emphasizing the importance of staying updated with the latest technology. The financial services sector is undergoing significant changes, with increasing complexity for businesses and diminishing borders. Professionals in this field must possess diverse skills and expertise, and any additional qualifications can prove to be valuable assets in the future. 

Exploring Corporate Strategy & Policy 

As a PhD student in the Corporate Strategy & Policy area at IIM Bangalore, Deepika had to comply with the course and thesis requirements specific to that field. Her research work was primarily focused on the area of Corporate Strategy & Policy, guided by Prof Rejie George, the Chair of her research committee, and advised by Prof Deepak Sinha, Prof K Kumar, and Prof Srinivasan Rangan. 

Interacting with various faculty members during the program was a valuable experience for Deepika. It helped her broaden her understanding and develop a strong affinity for the education industry. Throughout her PhD journey, she developed a keen interest in research related to innovation, new product development, and policy areas, leveraging her commerce background to connect with these subjects. 

Mastering Financial Services and Management 

Deepika pursued a Master’s degree in Financial Services and Management from the Alkesh Dinesh Mody Institute of Financial Services and Management under the aegis of University of Mumbai. This program, focused on stock exchanges, financial services, and management, was a new offering by Mumbai University then. It was her father’s guidance that led her to apply for the program, and she achieved the University First Rank, a proud moment for her. 

The program proved beneficial in various ways. It facilitated her successful interviews at Bombay Stock Exchange (BSE) Ltd and IIM Bangalore for the PhD program. The knowledge gained from the program helped her understand and address challenges during her tenure at BSE Ltd and aided her comprehension of the coursework during her PhD studies at IIM Bangalore. Even today, the program continues to benefit her by providing a solid understanding of financial services, stock market regulations, and compliances.

A Trusted Reviewer in Academia’s Elite Circles 

Deepika finds her role as a reviewer for national and international conferences and journals to be both exciting and enriching. This responsibility is an integral part of her teaching profile and holds significance for faculty members across educational institutions, particularly in higher education. Through reviewing papers, Deepika gains insights into the development of her field and related issues on a national and global scale. It also adds a new dimension to her thought process and aids in knowledge building and enhancing learning. Reviewing papers allows her to stay updated on the extensions, growth, and current trends in her research area.  

Being a reviewer for reputable conferences and journals is a mark of prestige. Deepika is proud to have received the Elsevier Reviewer Certificate in 2019 for her contributions to their esteemed journal and, in 2023, she was honored with the Reviewer Recognition Certificate from the Academy of Management for papers reviewed for their esteemed conference. 

Triumphs, Challenges, and Leadership Lessons 

Deepika considers herself fortunate to have overcome few challenges in her academic pursuits, attributing her positive and confident mindset, as well as her admission to the PhD program at IIM Bangalore in 2008, to the support of a higher power and her consistent hard work. She recalls following a strict schedule during her CA Final Exams, resulting in her clearing them on her first attempt in May 1997. Similarly, she believes her success in the CS Final Exams in December 1998, where she achieved All India 9th Rank and 1st Rank among women candidates, was mostly due to luck as she had limited time to prepare. 

Throughout her academic journey, Deepika has received several awards and recognitions, including the Best Student Award during her school days and the Best Employee Award at BSE Ltd. She has also been acknowledged for her performances in debates and elocutions. In her current role as Coordinator Administration at the institute she joined in June 2018, she faced initial challenges and experienced some discord among colleagues, but she focused on delivering exceptional performance and setting high standards. While changes in policies and regulations are continuous in the early stages of an organization, Deepika takes satisfaction in being a founding member and believes that challenges persist even now in her current responsibilities. 

As a leader, Deepika acknowledges the frustrations and occasional negative behaviors exhibited by colleagues, but she emphasizes the importance of forgiveness and moving forward. She views her role as inherently risky and believes that taking risks is essential for success. She was honored with a Visiting Research Fellowship from the Gordon Institute of Business Science (GIBS) at the University of Pretoria in South Africa and received the C K Prahalad Prashasti for Corporate and Social Strategy in 2022 for her research focus on Cultural Entrepreneurship & Intellectual Property. Deepika believes that leadership requires empathy, understanding, assertiveness, and the ability to manage employee morale effectively. 

Navigating Complexity and Shifting Paradigms 

Deepika recognizes that every field undergoes constant evolution and growth, and this holds true for the Corporate Strategy and Policy area as well. Traditionally, Corporate Strategy and Policy have been seen as the responsibility of top management, as it is considered the “brain” of an organization and crucial for decision-making. However, with the increasing complexities of business and the world becoming more interconnected, this area has experienced significant changes. 

Today, Corporate Strategy and Policy involve not only top management but also lower levels of management, including workers and labor forces. This is because strategy planning, formulation, and implementation require feedback and inputs from all levels of the organization. This realization has transformed the way Board of Directors strategize for organizations. Additionally, due to growing scandals, frauds, and scams, the importance of corporate governance and ethics has become a challenge for policymakers, researchers, industry professionals, and academics. 

Furthermore, current trends in the field have shifted towards corporate social responsibility, sustainability, and environmental concerns. Ensuring the long-term viability and sustainability of organizations have become interesting and challenging aspects. While strategies are typically long-term in nature, the COVID-19 pandemic has forced a shift towards short-term or medium-term planning, leading to a significant change in the thought process within the field.  

Nurturing Growth and Collaboration at IIM Visakhapatnam 

Deepika’s future plans revolve around her growth within IIM Visakhapatnam, contributing to institutional memories and expanding course offerings. She aims to focus on research and projects that connect with the industry while fulfilling her assigned roles and responsibilities. In the education sector, the continuous learning opportunities and limitless knowledge expansion are attractive forces that draw many individuals. 

Though initially occupied with administrative responsibilities, Deepika now intends to prioritize research and integrate her learnings into teaching, course development, and furthering her Research Fellowship with the Gordan Institute of Business. She also seeks collaborations with other institutions and corporations to bridge the gap between academia and industry. 

Being a new institute, IIMV has a learning curve, and efforts are made to ensure employees, including both teaching and non-teaching staff, feel connected to the organization’s vision, mission, and values. Feedback from various stakeholders is incorporated into the strategy formulation process, ensuring the smooth implementation of decisions made by the board. Policies such as work norms, incentivization schemes, and annual performance rewards are in place to motivate and enhance productivity. 

The academic freedom, flexibility, innovative atmosphere, and alignment with the institute’s vision, mission, and values serve as major driving forces to join IIMV. Deepika believes that as an academician, it is essential to give back to society. Her advice to aspirants in any field is to remain true to oneself, be ethical and transparent, accept mistakes, and take accountability for responsibilities. Being rooted, empathetic, respectful, and God-fearing are values she cherishes. Deepika encourages individuals to have the courage to speak the truth, follow their hearts, and not succumb to herd mentality. She believes that loving one’s job is crucial for happiness, and as a leader, embracing risks and facing failures are necessary for rewarding outcomes.