International Conference on Emerging Challenges for Organizations in Developing Economies concludes at Bahria University Islamabad

Islamabad, November 06, 2013 (PPI-OT): The International Conference on ‘Emerging Challenges for Organizations in Developing Economies (ECODE) organized by Bahria University (BU) Islamabad. The conference highlighted the issues related to innovation and new venture creation, organizational diversity and managing a new form of organization and the financial crisis. Federal Minister for Science and Technology, Mr. Zahid Hamid presided over the session as the Chief Guest.

While addressing the audience, Mr. Zahid Hamid appreciated efforts of Bahria University in organizing this international conference which provided an excellent opportunity to interact with academicians, researchers, practitioners and students to learn and share knowledge resulting in new opportunities.

He highlighted all the important aspects concerning creative and innovative business ventures which need an initial investment. He said that it is very important that these organizations understand the problems arising from rapidly changing dynamics of a developing country, so that they are able to adapt and take crucial and correct decisions at the proper time.

For facilitating and promoting such innovation, it is necessary to develop, Innovation Hubs. These integrated research centers are in fact business incubators, designed to promote collaboration and innovation by combining academic and applied research, he added.

All aspects related to innovation and new venture creation, organizational diversity and managing a new form of organization and the financial crisis were adequately covered with seven speakers taking the floor. The conference illuminated how universities will better equip students for the changing business and technological environments.

It probed into the degree of venture creation and innovation versus technology and knowledge transfer in order to create a wealth of knowledge and a better understanding of the pertinent challenges. It also discussed the pivotal role of SME’s and Entrepreneurship in the development of an economy and how the creation of new ventures and new products are directly related.

New forms of organizations were also explored in context of handling diversity across linguistic, religious and cultural borders alike in an effort to forming and managing a new form of organization strengthening itself from utilizing diversity as an asset

The conference ended with the closing address of the Honorable Rector Bahria University, Vice Admiral® Shahid Iqbal HI (M) and he said that close collaboration in “Research and Development” will be required to meet the challenges and to broaden our horizons and to address these demanding issues. He added that two-day conference has provided a platform of thought for everyone here to share their ideas and views on best practices and principles and to bring us novel ideas.

This Conference was an admirable initiative taken by Bahria University which shed light on the current businesses problems faced by Pakistan and other developing economies.

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