Bhubaneswar/New Delhi: In the domain of business, it is pertinent to fix a goal which will show the path towards success. This was the central theme of speakers in a panel discussion at the Sambad CEO Conclave 2023 organised at Mayfair Convention in Bhubaneswar on Tuesday evening.

Speaking at the event organised by Executive Director of the Sambad Group Tanaya Patnaik, principal secretary of Skill Development and Technical Education department Usha Padhee, principal secretary of Electronics & Information Technology department Manoj Kumar Mishra and Executive Chairman of Startup Odisha Dr Omkar Rai elaborated on the importance of devising a strategy and taking the reins of a company through team work in various contexts.

"The role of women is often perceived through the lens of traditional roles assigned to them. On the work front, women have to make a lot of sacrifices to reach top positions in their careers. But when they do, they have clarity of vision which helps them take on the team's leadership with much competence. Prejudiced views against them can only be erased with right perspectives," Padhee said.

On the question of when a CEO of a start-up should be appointed, Dr Rai said the founder should resort to the same when the need to expand the business on a substantial scale arises. The expansion of a business mandates professional insights  and this is when the role of a CEO comes in handy, he said.

"Allocating specific time for home and work does not amount to work-life balance. When one enjoys their work, the question of imbalance in their personal and professional lives does not arise," Mishra said while stressing on spending quality time with colleagues. He also said progress of any kind is bound to meet opposition and challenges during which it is important that the person at the helm does not get discouraged or distracted from the end goals.

Addressing the question of managing failures, Dr Rai said only 5-6 per cent of start-ups become successful globally but despite that new ventures are conceived everyday. The rate of unsuccessful start-ups are perceived differently by different people. Many entrepreneurs take failures as learning lessons and build on the defeat to eventually become successful, he added.