5th March 2025, Bengaluru: Prof. Prateek Raj of University College London (UCL) led a course on Strategic Stewardship during his time at IIMB. Its teachings were targeted at senior leaders who sought to decipher 21st century strategic dilemmas while running a successful business. That is when he happened upon the idea for ‘Atypical: Five Strategy Rules for a New World’. The book—three years in the making—was unveiled in the presence of Prof. Raj, IIMB Director Prof. Rishikesha T. Krishnan; PGP & PGPBA Chairperson Prof. Manaswini Bhalla, Economics area; and Prof. Trilochan Sastry, Decision Sciences area, on 28 February 2025.
Prof. Prateek opened the evening by sharing insights into his journey as a strategy scholar, narrating how his interactions with multi-disciplinary subject-matter experts shaped his understanding of a management function often regarded as rigid and devoid of empathy. “IIMB gave me the freedom to do what I wanted, and that’s how various iterations of the Strategy course I offered came to be”. Prof. Prateek also noted that his book was a heartfelt tribute to late Strategy area faculty Prof. Ganesh N. Prabhu, whose lasting legacy continues to leave an indelible mark on scholars like himself.
In a world reshaped by geopolitical flux, technological upheavals, and the demand for ethical capitalism, conventional playbooks no longer cut it.
The book argues that the answers don’t lie in boardrooms but rather emerge from the fringe. Atypical unpacks how businesses, that biases aside, listen to the overlooked—marginalized communities, frontline workers, unexpected collaborators—are the ones shaping the future.
“Our management methodologies don’t allow us to go out and seek insights from the extreme or invisible—the atypical stakeholder— even though they offer us the most richness in design building processes”, Prof. Prateek explained.
Prof. Prateek welcomed the key speakers of the session with a personal introduction, “Prof. Rishikesha has been instrumental in creating a stimulating intellectual environment at IIMB; Prof. Trilochan’s work on social contexts has been hugely influential on me; and Prof. Bhalla isn’t only a dear friend but someone who has genuinely helped me get my message of Atypical strategy across in the manner that she leads the PGP programme at IIMB”.
On breaking the strategy mold, Prof. Rishikesha spoke of how digitalization has lowered the cost of experimentation, making strategic recalibration both feasible and necessary. “Prof. Prateek’s ideas of experimentation and course correction are not just timely; they’re inevitable”, he noted.
Prof. Trilochan gave the audience some food for thought as he brought the discussion back to the tension between individual ideology and organizational strategy. “Atypical voices are there and are heard, but there is a distinction between an individual stakeholder bearing their ideology and integrating it into the strategic DNA of an organization”.
Adding her congratulations to Prof. Prateek, Prof. Manaswini steered the discussion towards empathy: “Why do businesses resist empathetic practice? Because they assume it comes at the cost of efficiency”. The conversation continued with Prof. Prateek asserting, “Account for stakeholders other than the typical ones. Imbibe the idea of listening to undesirable voices; empathy isn’t normative but functional in strategy and design thinking”.
