In the business the human capital and creativecapital is as important as financial capital.According to KB, and many other companieslike GE, working with trained people isokay, but they can’t help in generating newideas. You need to have creativity there.
Characteristics of BusinessTraditional Characteristics of a business:HierarchiesDecision-makingWorking through defined systems and processesFollowing a water tight structures The pantaloon way : Fluid organization Anyone could take new responsibility Getting into new areas Employees executing responsibilities the way they want.
Being in fashion business, design iscreative activity that connects the dotsinitially seemed to beunrelated, connecting the emotions andfeelings of customers.
Marriage of ApproachesThe Analytical and the Creative Approach :Organization dominated by systems, analyses and processes areefficient in working of repeated task performing.In order to create something new and innovative, creativity is required.Analytical approach helps business to work efficiently and in discipline.Creativity alone can not drive business, and being analytical cannotkeep you alive for long term business. Happy solutionMarriage of both these aspects which represents both halves ofbrain : the Left ( Analytical) the Right ( Creative)
Features and StrategyFeatures : Strategy :Design is user-focused. Always keep a back up plan ready to avoid the failure risk.Design is prototype baseddevelopment tool. Prototyping: concept or format, always went through aAdaptive to fast changing prototype phase.external environment. Designing strategy documentsA creative design providing often in pictorial ways. Imagesdeep understanding and and concepts , rather than testempathy of human behavior. and figures.
KB believes that every big or small idea aregiven shape by idiom, design group. This teamdoesn’t appoint market research, instead theteam spend time on streets and observepeople. And then they engage in collectiveidea-making.
IDIOMIdiom is an independent design and consultancy firm, based inBangalore.Team of over a hundred and eighty designers from multiple disciplinesworks out.Works in a highly experimental manner : working on small ideas ratherthan focusing on big ones.Working : Members get into a team and blend into crowds to watch andobserve them.Aim : To get social, economic, cultural and psychological insights ratherthan just members.Idiom incubates the ideas for some time, develops insights and thenexpand on them.
He believed in twin idea of constant growthand allowing others to grow. Upon this theycame up with PANTALOON GENES.
Business of Life “ Give till it hurts” Mother Teresa
Family and BusinessThis chapter mainly talks about SUCCESS IS THEhis personal as well as the business SENSIBILITY, FAILUfamily. RES ARE STEADYFamily and friends-managing the STEPS TOWARDSfamily is no less important than SUCCESS. ITS ANmanaging the business. OPPORTUNITY TOIn their family there are a certain IMPROVE, LEARNset of standards which no one can AND MOVE ON.cross it even him.
Approach to businessOne of the most necessary step they tookwas to completely separateownership, governance and execution. If you approachWithin organization their family members your business withmostly concentrate on building and nurturing this framework inrelationships with business partners andproviding an overall guidance to the business. mind, then youthey may have different views, different shall see benefit inapproaches to the business but their overall all interactions.feelings are in the best interest of thecompany they call this collective individualismmultiple belief but a single goal.
Who Says Elephants Can’t Dance ? “Survival and success depend on speed and imagination” N. R. NARAYANA MURTHY
Creator and DestroyerEvery organization needs a Brahma, a Vishnu and a Shiva --- a Creator, apreserver, and a destroyer.Idea : Created new things and subsequently launched a few brands.Established our own retain chain for our fashion products and slowlythereafter built multiple retail businesses.Reached out directly to consumers and a thorough understanding ofcustomer segments.Forming Pantaloon Knowledge Group and created a knowledge office withinthe company to act as the key driver and assimilator of information.Destroyed the earlier structure to create a new design that can serve as aplatform for multiple ideas and businesses in consumption space.
Strong belief and ApproachOrganization is now based on scenario planning, design thinking, innovationand ideas.Areas for new research are been looked upon like memetics.Built a team that believes in vision, values and ethos.As a leader, played a role to provide a holistic picture and a strategicdirection to the group.
ConclusionIn 2006, they took the next big leap. Future group was theoutcome of new thinking that has come into the organization. Theorganization is now based on scenario planning, design thinking,innovation and ideas and new area of research like meme tics.From this I’ve learned endless no. of things. It has enhanced myinterpersonal as well as commercial skills. The most importantcharacteristic that I observed in Kishore Biyani is that he grabs eachand every opportunity and applies them at right time. In additionto that he doesnt mind following rules or ideas initiated by others,i.e., he traps every good or positive things into his pockets(Saravana stores, Sam Walton)