THE MEANING OF CORE COMPETENCE:
A core competence represents a bundle of skills that are not widely available in an industry. It is not easily copied and is capable of being applied across several existing and new businesses, and provides clear benefits to customers… top managers are often experimenting, but the few who hope to usher their firms to the ranks of global companies have no choice but to focus on building competencies that support their business portfolios.
COMPETING FOR THE FUTURE:
The role of discussion and implementation of the strategies is not just the work for the top executives, but for everyone in the company. Thinking about the future is an obligation as well as a responsibility for everyone. The technique of strategy making is a non-elitist way to solve many problems and become successful. Those companies who have spent a little more earnest time on discussing the way to create ways or solutions reap rich dividends and capture the attention and imagination of its customers.
But the success in the future lies in the roots of failure. For, people get too sloppy and keep saying that the solution is working; it isn't broke, so don't tamper with it. In that situation, one must take in this way, ‘the failure curve is a forgettable curve, but a learning one.’
HOW TO BE SUCCESSFUL EVERYWHERE?
First, for a company to become successful, exploiting the domestic market is required. It must know the cost of living of the people at the BOP (Bottom Of the Pyramid). The items should be sold at a low price first. Then, the cost can be raised. This is because, after seeing and getting the benefit of the poor, it can improve its standards and market value to serve the rich. But the vice-versa cannot happen so easily. First if it is done for the rich, it can’t make money with the poor. So, one should have a clear picture of the situation in mind. The strategy is, ‘If one can succeed in the bottom of the pyramid (BOP) here and you hone your skills, it can be successful everywhere’.
The price-performance relationship must be different in BOP markets. The question for managers… by addressing the needs of the 750 million Indians at the BOP, can we serve the five billion poor around the world? Paradoxically, the very poor of India may hold the key to making India a source of innovation.
GRASSROOT INNOVATION:
“An amphibious bicycle that is handy during flooding, A bicycle in which, every time there is a bump or ditch on the road, the energy is transferred to the rear wheel to make it go faster, a tool to climb a coconut tree, a micro windmill-driven battery charger, use of Tamarind and lemon for pest control, a shoulder rest for women carrying water, sculptures made from the secretion of Termites…”
These are some of the innovations that did not come from research labs, but from the knowledge rich, economically poor, grassroot inventors. These bright minds did not get a chance to showcase their skills, just because of one fact, ‘no money’.
This situation should change as it will change the very locus and the sources of innovation because, today instead of a small group of people sitting and thinking about innovation, you can have three billion people not only being micro-producers and micro-consumers, but micro-innovators!!!
As our former president Dr. Abdul Kalam rightly said , “India is the phase of emerging as a superpower in 2020”, this vision will be made true only by implementing wisdom rich ideas.
INDIA CAN BECOME IN FORTHCOMING YEARS:
· Has the potential to turn its population into a distinct advantage... build a base of 200 million college graduates… 500 million certified and skilled technicians.
· Can become the home for at least 30 of the Fortune 100 firms.
· Can account for 10 per cent of global trade.
· Can become a source of global innovations-new businesses, new technologies and new business models.
· Can have 10 Nobel prize winners.
· Can become a benchmark on how to leverage diversity. How to achieve it
· Focus on the future and not on the past, or on the trajectory of the past.
· Aspirations must exceed resources.
· Imagination is more important than analysis.
· Inclusive growth.
· Build world-class products and services at a new price-performance level to convert India's demographic liability (large and poor population) into a demographic dividend.
· Harness the benefits of modern technology.
· Sustainable economic development.
· Good governance.
Sounds really good right? So lets start working on its implementation right now…
A core competence represents a bundle of skills that are not widely available in an industry. It is not easily copied and is capable of being applied across several existing and new businesses, and provides clear benefits to customers… top managers are often experimenting, but the few who hope to usher their firms to the ranks of global companies have no choice but to focus on building competencies that support their business portfolios.
COMPETING FOR THE FUTURE:
The role of discussion and implementation of the strategies is not just the work for the top executives, but for everyone in the company. Thinking about the future is an obligation as well as a responsibility for everyone. The technique of strategy making is a non-elitist way to solve many problems and become successful. Those companies who have spent a little more earnest time on discussing the way to create ways or solutions reap rich dividends and capture the attention and imagination of its customers.
But the success in the future lies in the roots of failure. For, people get too sloppy and keep saying that the solution is working; it isn't broke, so don't tamper with it. In that situation, one must take in this way, ‘the failure curve is a forgettable curve, but a learning one.’
HOW TO BE SUCCESSFUL EVERYWHERE?
First, for a company to become successful, exploiting the domestic market is required. It must know the cost of living of the people at the BOP (Bottom Of the Pyramid). The items should be sold at a low price first. Then, the cost can be raised. This is because, after seeing and getting the benefit of the poor, it can improve its standards and market value to serve the rich. But the vice-versa cannot happen so easily. First if it is done for the rich, it can’t make money with the poor. So, one should have a clear picture of the situation in mind. The strategy is, ‘If one can succeed in the bottom of the pyramid (BOP) here and you hone your skills, it can be successful everywhere’.
The price-performance relationship must be different in BOP markets. The question for managers… by addressing the needs of the 750 million Indians at the BOP, can we serve the five billion poor around the world? Paradoxically, the very poor of India may hold the key to making India a source of innovation.
GRASSROOT INNOVATION:
“An amphibious bicycle that is handy during flooding, A bicycle in which, every time there is a bump or ditch on the road, the energy is transferred to the rear wheel to make it go faster, a tool to climb a coconut tree, a micro windmill-driven battery charger, use of Tamarind and lemon for pest control, a shoulder rest for women carrying water, sculptures made from the secretion of Termites…”
These are some of the innovations that did not come from research labs, but from the knowledge rich, economically poor, grassroot inventors. These bright minds did not get a chance to showcase their skills, just because of one fact, ‘no money’.
This situation should change as it will change the very locus and the sources of innovation because, today instead of a small group of people sitting and thinking about innovation, you can have three billion people not only being micro-producers and micro-consumers, but micro-innovators!!!
As our former president Dr. Abdul Kalam rightly said , “India is the phase of emerging as a superpower in 2020”, this vision will be made true only by implementing wisdom rich ideas.
INDIA CAN BECOME IN FORTHCOMING YEARS:
· Has the potential to turn its population into a distinct advantage... build a base of 200 million college graduates… 500 million certified and skilled technicians.
· Can become the home for at least 30 of the Fortune 100 firms.
· Can account for 10 per cent of global trade.
· Can become a source of global innovations-new businesses, new technologies and new business models.
· Can have 10 Nobel prize winners.
· Can become a benchmark on how to leverage diversity. How to achieve it
· Focus on the future and not on the past, or on the trajectory of the past.
· Aspirations must exceed resources.
· Imagination is more important than analysis.
· Inclusive growth.
· Build world-class products and services at a new price-performance level to convert India's demographic liability (large and poor population) into a demographic dividend.
· Harness the benefits of modern technology.
· Sustainable economic development.
· Good governance.
Sounds really good right? So lets start working on its implementation right now…