|
|
 Email |  Discuss | Get latest news on your desktop
Success tips from world's top management guru
January 15, 2009
To be extraordinarily sensitive and concerned about key competitors, especially those who have more experience and technology capabilities, is not a wise thing to do. I think we have to distinguish between being respectful and being concerned about competitors.
At headquarters, managers are focused on the markets already being served, not the potential markets of the future. When this happens, the company is hostage to existing markets, even though it may possess highly-evolved core competencies which can be leveraged for the future.
By creating a mismatch between aspirations (more) and resources (less) you create entrepreneurship. Entrepreneurs leverage resources and change the business model to get more, for fewer resources. So the task for us is, how to create aspirations that rest outside the current resource base
You have to have faith: otherwise, every time there's a minor problem in the implementation, you'll change direction. Just because you are going north, doesn't mean it's going to go in a straight line.
Start with clear specifications and a clear idea of gaps by auditing your own internal structure. Then create small internal experiments to move one step at a time rather than turning everything upside down.
Image: Dhirubhai Ambani developed his own unique strategies to deal with competition. | Photograph: Rediff Archives
Also read: Why India does not produce enough researchers
| Live updates on money.rediff.com |
|
|
|
|
Advertisement
