First came the slowdown avalanche, they continued climbing... Then came the storm, they climbed further... Then came competitors criticising their weaknesses; but they’d reached the summit by then! B&E’s manish k. pandey & deepak r. patra closely analyse how the ‘best’ got the better of the ‘worst weathers’, and a lesson for those with ‘weak feathers’...
“Our greatest competition is with ourselves.” Or “Our greatest challenge is how to continue to provide value to our customers.” How often is it that you have heard our good ol’ CEOs utter these angelical words, and how many times have you believed them? We hear such statements, albeit rephrased in many different ways, just about all the time; and as far as believing them goes, all we can say is that being politically correct hardly remains a domain exclusive to politics!
That’s because there is no business establishment that can survive in this marketplace by just looking at the customer’s needs. A company has to view its entire business environment in a holistic context, and competition, in particular, has to be studied closely, all the time. Even as we speak, there are new competitive benchmarks being consistently set in every industry, and it’s quite obvious that all of them do not come from one company. There are precious few companies like GE, which develop benchmarks far ahead of the competition and can afford some complacence (even GE hasn’t been immune in fact!). And there are times when these benchmarks can make all the difference between winning and losing. So there is no reason to disbelieve the fact that if companies just focus on customers and turn a blind eye to competition, they are headed for testing times.
And economic slowdown is the mother of innovation. When the pie gets smaller, competitors search for newer ways to grab a greater share, and it becomes all the more important to outmanoeuvre them when and where it counts. But the key question is – what will work? What magical formula can a company use to win in the downturn, or even to insure itself better against future downturns?
Read more.....
“Our greatest competition is with ourselves.” Or “Our greatest challenge is how to continue to provide value to our customers.” How often is it that you have heard our good ol’ CEOs utter these angelical words, and how many times have you believed them? We hear such statements, albeit rephrased in many different ways, just about all the time; and as far as believing them goes, all we can say is that being politically correct hardly remains a domain exclusive to politics!
That’s because there is no business establishment that can survive in this marketplace by just looking at the customer’s needs. A company has to view its entire business environment in a holistic context, and competition, in particular, has to be studied closely, all the time. Even as we speak, there are new competitive benchmarks being consistently set in every industry, and it’s quite obvious that all of them do not come from one company. There are precious few companies like GE, which develop benchmarks far ahead of the competition and can afford some complacence (even GE hasn’t been immune in fact!). And there are times when these benchmarks can make all the difference between winning and losing. So there is no reason to disbelieve the fact that if companies just focus on customers and turn a blind eye to competition, they are headed for testing times.
And economic slowdown is the mother of innovation. When the pie gets smaller, competitors search for newer ways to grab a greater share, and it becomes all the more important to outmanoeuvre them when and where it counts. But the key question is – what will work? What magical formula can a company use to win in the downturn, or even to insure itself better against future downturns?
Read more.....
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
