This document discusses concepts related to sustainability, excellence, and the bottom of the pyramid paradigm. It begins with defining key terms and outlining common principles of sustainability. It then discusses C.K. Prahalad's concept of the bottom of the pyramid and how engaging this large consumer segment can be both profitable and help alleviate poverty. The document argues that a new approach is needed to truly engage with and benefit bottom of the pyramid communities in a sustainable way.
The Future of work in a post pandemic worldLeon Benjamin
On the future of work, careers, business and society based on the Great Reset resulting from the global pandemic. Get ready. How to prepare for a profound inflexion point in humanity's progress.
Evolution of Entrepreneurship over decades AmeyaKshatriya
This presentation consists of the development and evolution of entrepreneurship over decades. Hope you will find it useful. Thank you !!!
You could also find this information on the link provided below.
https://www.vz.ae/blog/past-versus-present-how-has-entrepreneurship-evolved-with-the-times
This document summarizes a workshop on inclusive leadership that was part of the 2016 Young Professionals Summit hosted by the German Marshall Fund. The workshop was led by Carlton Yearwood of True Blue Inclusion and involved having participants take the Intercultural Development Inventory assessment and discussing the results. The group's assessment showed a gap between their perceived cultural competence and their actual developed orientation. Participants realized that more work needs to be done to foster inclusiveness within organizations and communities. The workshop highlighted the importance of understanding different cultural perspectives to drive innovation.
This presentation was delivered in April 2008 to the CSR Certification program at St. Michael's College at the Univeristy of Toronto - on the importance of Diveristy within Corporate Social Responsibility.
The document discusses the growing concern about sustainability and the limits of the planet's resources to support unlimited economic growth and population growth. It notes milestones like Silent Spring in 1962 and Limits to Growth in 1972 that raised awareness of environmental costs. The widely cited 1987 definition of sustainable development as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs" is presented. The situation is described as a need for a new balance between social, environmental and economic concerns to avoid overshoot and collapse of human systems.
On the future of work, careers, business and society based on the Great Reset resulting from the global pandemic. Get ready. How to prepare for a profound inflexion point in humanity's progress.
A Study of Community Entrepreneurship Development Research A Resource of Clar...ijtsrd
Community entrepreneurship, as training and a field for academic research, gives an exceptional chance to test, question, and reevaluate ideas and suppositions from various fields of the executives and business look into. This article advances a perspective on Community entrepreneurship as a procedure that catalyzes social change and addresses critical social needs in a way that isnt ruled by direct money related advantages for the business visionaries. Community entrepreneurship is viewed as varying from different types of business in the moderately higher need given to advancing social esteem and improvement as opposed to catching financial esteem. To animate future research the creators present the idea of embeddedness as a connection between hypothetical viewpoints for the investigation of Community entrepreneurship. J Jose Prabhu ""A Study of Community Entrepreneurship Development Research: A Resource of Clarification and Forecast"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd21741.pdf
Paper URL: https://www.ijtsrd.com/management/new-venture-start-up/21741/a-study-of-community-entrepreneurship-development-research-a-resource-of-clarification-and-forecast/j-jose-prabhu
The Future of work in a post pandemic worldLeon Benjamin
On the future of work, careers, business and society based on the Great Reset resulting from the global pandemic. Get ready. How to prepare for a profound inflexion point in humanity's progress.
Evolution of Entrepreneurship over decades AmeyaKshatriya
This presentation consists of the development and evolution of entrepreneurship over decades. Hope you will find it useful. Thank you !!!
You could also find this information on the link provided below.
https://www.vz.ae/blog/past-versus-present-how-has-entrepreneurship-evolved-with-the-times
This document summarizes a workshop on inclusive leadership that was part of the 2016 Young Professionals Summit hosted by the German Marshall Fund. The workshop was led by Carlton Yearwood of True Blue Inclusion and involved having participants take the Intercultural Development Inventory assessment and discussing the results. The group's assessment showed a gap between their perceived cultural competence and their actual developed orientation. Participants realized that more work needs to be done to foster inclusiveness within organizations and communities. The workshop highlighted the importance of understanding different cultural perspectives to drive innovation.
This presentation was delivered in April 2008 to the CSR Certification program at St. Michael's College at the Univeristy of Toronto - on the importance of Diveristy within Corporate Social Responsibility.
The document discusses the growing concern about sustainability and the limits of the planet's resources to support unlimited economic growth and population growth. It notes milestones like Silent Spring in 1962 and Limits to Growth in 1972 that raised awareness of environmental costs. The widely cited 1987 definition of sustainable development as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs" is presented. The situation is described as a need for a new balance between social, environmental and economic concerns to avoid overshoot and collapse of human systems.
On the future of work, careers, business and society based on the Great Reset resulting from the global pandemic. Get ready. How to prepare for a profound inflexion point in humanity's progress.
A Study of Community Entrepreneurship Development Research A Resource of Clar...ijtsrd
Community entrepreneurship, as training and a field for academic research, gives an exceptional chance to test, question, and reevaluate ideas and suppositions from various fields of the executives and business look into. This article advances a perspective on Community entrepreneurship as a procedure that catalyzes social change and addresses critical social needs in a way that isnt ruled by direct money related advantages for the business visionaries. Community entrepreneurship is viewed as varying from different types of business in the moderately higher need given to advancing social esteem and improvement as opposed to catching financial esteem. To animate future research the creators present the idea of embeddedness as a connection between hypothetical viewpoints for the investigation of Community entrepreneurship. J Jose Prabhu ""A Study of Community Entrepreneurship Development Research: A Resource of Clarification and Forecast"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd21741.pdf
Paper URL: https://www.ijtsrd.com/management/new-venture-start-up/21741/a-study-of-community-entrepreneurship-development-research-a-resource-of-clarification-and-forecast/j-jose-prabhu
This document discusses the need for a new model of leadership to address the complex challenges of today's dynamic environment. It provides three key points:
1) Traditional models of leadership are insufficient for dealing with today's perpetual uncertainty, transparency, rapid change, and complex problems. A new paradigm is needed that is more adaptive.
2) This new model requires developing a richer language using models, maps, and narratives to better understand complexity. It also demands building greater personal capacity through daily practice.
3) Leaders must continually strengthen their abilities to handle greater demands through self-development in order to navigate uncertainty and envision needed changes before problems emerge. The ground is shifting faster than our approaches to leadership.
Uday salunkhe dynamic role of management in global economyudaysalunkhe
This document discusses the dynamic role of management in the global economy. It outlines how management has transformed the world through innovations that allow knowledge workers to be productively employed at large scales. While older occupations like farming and manufacturing have declined, management is now the largest occupation. Effective management requires adapting to changes in the environment and pursuing continuous innovation. The role of management is crucial for business growth, expansion into new markets, and entrepreneurship. Industries must be managed differently depending on their growth stage. Overall, management has been the key driver of economic growth worldwide.
Intelligent Evolution: New Ecosystems Where Entrepreneurship Thrives Daniel Isenberg
1. The entrepreneurship ecosystem consists of six domains - culture, policies, finance, human capital, markets, and supports - that foster entrepreneurship. Each ecosystem is unique due to complex interactions between hundreds of elements.
2. Specifying generic causes of entrepreneurship ecosystems has limited value, as impacts occur over long periods and involve many interacting variables. Individual entrepreneurs can catalyze change.
3. Entrepreneurship ecosystems become self-sustaining through success breeding success and reinforcing the six domains, allowing reduced but not eliminated public investment over time. Ecosystems evolve through intelligent design and markets.
Entrepreneurship corporate entrepreneurship and venturingPham Duong
This chapter discusses two types of corporate entrepreneurship that can help balance exploitation and exploration in large companies: dispersed and focused. Dispersed entrepreneurship allows entrepreneurial initiatives to emerge throughout the organization to cultivate an entrepreneurial culture. Focused entrepreneurship separates entrepreneurship from core operations by establishing corporate venture capital programs to invest in startups and benefit from their new technologies, products, and competencies. The chapter introduces the concepts and issues around each type, setting the stage for subsequent chapters that provide deeper analysis of key drivers of entrepreneurial behavior within companies and mechanisms for linking startups with parent companies.
WEF-Young Global Leaders: Guide to Influencing Complex SystemsSustainable Brands
Valerie Keller sought to end homelessness by identifying its root causes rather than just addressing symptoms. Her team mapped the pathways
that often lead to homelessness, such as lack of affordable housing, poverty, lack of access to healthcare and the justice system's costly
treatment of offenses related to life on the streets. They concluded that comprehensively addressing factors preventing individuals from
obtaining and maintaining housing, like rent subsidies and supportive services combined with policy changes, could more effectively solve the
problem than temporary shelters alone.
This document defines entrepreneurship and outlines various theories of entrepreneurship. It defines entrepreneurship as the process undertaken by an entrepreneur to establish an enterprise. The document then discusses characteristics of entrepreneurship such as risk-taking and dynamic processes. It outlines the importance of entrepreneurship in generating employment, wealth, and development. The document also discusses barriers to entrepreneurship. Finally, it presents four main categories of theories of entrepreneurship: sociological, economic, cultural, and psychological theories. It provides examples of theories within each category such as Max Weber's sociological theory and the entrepreneurship innovation economic theory.
The document summarizes a discussion from a Stockholm futurists meetup about the concepts of "abundance" and "limits to growth". It outlines Peter Diamandis' view of an abundant future driven by exponential technology versus Paul Gilding's argument for "The Great Disruption" due to planetary limits. The two perspectives map to Jim Dator's "continuation" and "collapse" generic futures. The discussion explores which view to trust given different scientists' assumptions, how values may shift from growth to sufficiency, and whether new technologies appear cool or creepy.
This document discusses labor turnover in the logistics industry in Sri Lanka. It provides background on the challenges of labor turnover, including the loss of employee knowledge. The objectives of the research are to reduce turnover factors, establish health and safety practices, provide competitive salaries and flexible work schedules, and increase organizational performance. Literature on the history of approaches to managing labor is reviewed, covering scientific management, human relations theory, and more recent flexible work arrangements. High turnover rates in the logistics industry are discussed, as well as factors potentially influencing turnover such as 12-hour shifts, health and safety practices, and compensation.
WEF Report - Young Global Leaders Circular Economy Innovation & New Busine...Vikrant Mudaliar
The document discusses the sharing economy and collaborative consumption. It begins with a foreword noting the resource constraints facing the global economy and how the sharing economy offers a model of profound collaboration and consumption focused on access over ownership. The main body of the document then provides context, discusses what the sharing economy is and how it has evolved historically. It outlines different sharing economy models and sectors, how trust and reputation are important, and whether monetary exchanges are necessary. It concludes by discussing crowdfunding and how the sharing economy intersects with concepts like the circular economy.
The brazilian entrepreneurial ecosystem of startups: an analysis of entrepren...Fundação Dom Cabral - FDC
This document summarizes a study that mapped the Brazilian startup entrepreneurial ecosystem according to six determinants defined by the OECD: regulatory framework, market conditions, access to finance, creation and diffusion of knowledge, entrepreneurial capabilities, and entrepreneurship culture. The study involved interviews with Brazilian representatives from these areas and collecting quantitative data related to each determinant. It found that Brazil's entrepreneurship culture is favorable but other determinants like access to finance and fear of failure limit entrepreneurial activity. Comparing Brazil to other countries in Latin America showed differences in perceptions of entrepreneurship opportunities and capabilities.
Strategic Doing and the 2d Curve: the Story of FlintEd Morrison
Bob brown, a leader in the Strategic Doing movement, explains how he has used Strategic Doing to transform neighborhoods in Flint over the past eight years.
The Entrepreneurship Ecosystem Strategy for Economic Growth Policy: Icer 2011Daniel Isenberg
This document discusses the entrepreneurship ecosystem strategy proposed by Daniel Isenberg as a new paradigm for economic development. Some key points:
- Isenberg argues that we now understand enough about how entrepreneurship develops to deliberately cultivate conditions to increase entrepreneurship in a relatively short period of time (years not decades).
- This can be done through an "entrepreneurship ecosystem strategy" following certain principles to stimulate economic prosperity in a self-sustaining way.
- One principle is distinguishing entrepreneurship from self-employment and small businesses, and focusing on entrepreneurship which is aspirational and risk-taking.
- The entrepreneurship ecosystem strategy aims to address some policy mistakes made in previous economic
The World in Context: Beyond the Business Case for Sustainable Development is an essay by Jonathon Porritt, Co-Director of hrh The Prince of Wales’s Business & the Environment Programme (bep), Co-Founder and Programme Director of
Forum for the Future and Chairman of the uk Sustainable Development Commission. From the Business & Environment programme. University of Cambridge
The future of leadership is anything but predictable. We know for sure that it will be different from the way leadership is know and applied today. A different type of leader is going to emerge in the 4th wave.
The document discusses the need for organizations to increase their "metabolic rate" or pace of change to keep up with the accelerating rate of change in the world. It notes that the time between paradigm shifts has decreased dramatically and will continue to do so. Successful organizations must be able to constantly adapt their strategies, failing fast and iterating quickly to find solutions. Leaders must manage this metabolic rate and ensure their organizations have the ability to rapidly adapt and change course as needed.
The document discusses the development of a child's understanding of money and their relationship with parents over money in different stages from childhood to adulthood. It explains how children first learn about the value of money and where it comes from, and as they grow older start to understand concepts like budgeting, saving, and the importance of financial responsibility. The relationship with parents plays a crucial role in shaping a child's views and behaviors related to money management from a young age.
Is cultural diversity one of the solution to recreate the global economy for ...KamelionWorld
Diversity of thinking (age, culture, education, personality, skills and life experiences) is most important in global business.
Learn how to read between the lines in the recent report: The new global mindset: globalization and the changing world of business published by Ernst & Young.
Excellence sustainability and the bottom of pyramid paradigmSorab Sadri
This document summarizes the key concepts around excellence, sustainability, and the bottom of the pyramid paradigm. It discusses how managerial ethics and corporate governance lead to organizational excellence, which then needs to translate to business sustainability. At a macro level, corporate social responsibility is important for the interface between business and society. The bottom of the pyramid concept proposes serving the needs of the world's poorest populations as a business opportunity and addresses challenges around affordability, access, and availability of products and services for those populations. Entrepreneurship and partnerships are needed to create economic ecosystems that can sustainably improve livelihoods at the bottom of the pyramid.
You never felt fully part of this world where you had to make a living. Somewhere along the way, you had your “Blue Marble” moment… seeing that the world is interconnected, sacred, beautiful. And it is under threat. This is the moment where you were called to service...
This document discusses the need for a new model of leadership to address the complex challenges of today's dynamic environment. It provides three key points:
1) Traditional models of leadership are insufficient for dealing with today's perpetual uncertainty, transparency, rapid change, and complex problems. A new paradigm is needed that is more adaptive.
2) This new model requires developing a richer language using models, maps, and narratives to better understand complexity. It also demands building greater personal capacity through daily practice.
3) Leaders must continually strengthen their abilities to handle greater demands through self-development in order to navigate uncertainty and envision needed changes before problems emerge. The ground is shifting faster than our approaches to leadership.
Uday salunkhe dynamic role of management in global economyudaysalunkhe
This document discusses the dynamic role of management in the global economy. It outlines how management has transformed the world through innovations that allow knowledge workers to be productively employed at large scales. While older occupations like farming and manufacturing have declined, management is now the largest occupation. Effective management requires adapting to changes in the environment and pursuing continuous innovation. The role of management is crucial for business growth, expansion into new markets, and entrepreneurship. Industries must be managed differently depending on their growth stage. Overall, management has been the key driver of economic growth worldwide.
Intelligent Evolution: New Ecosystems Where Entrepreneurship Thrives Daniel Isenberg
1. The entrepreneurship ecosystem consists of six domains - culture, policies, finance, human capital, markets, and supports - that foster entrepreneurship. Each ecosystem is unique due to complex interactions between hundreds of elements.
2. Specifying generic causes of entrepreneurship ecosystems has limited value, as impacts occur over long periods and involve many interacting variables. Individual entrepreneurs can catalyze change.
3. Entrepreneurship ecosystems become self-sustaining through success breeding success and reinforcing the six domains, allowing reduced but not eliminated public investment over time. Ecosystems evolve through intelligent design and markets.
Entrepreneurship corporate entrepreneurship and venturingPham Duong
This chapter discusses two types of corporate entrepreneurship that can help balance exploitation and exploration in large companies: dispersed and focused. Dispersed entrepreneurship allows entrepreneurial initiatives to emerge throughout the organization to cultivate an entrepreneurial culture. Focused entrepreneurship separates entrepreneurship from core operations by establishing corporate venture capital programs to invest in startups and benefit from their new technologies, products, and competencies. The chapter introduces the concepts and issues around each type, setting the stage for subsequent chapters that provide deeper analysis of key drivers of entrepreneurial behavior within companies and mechanisms for linking startups with parent companies.
WEF-Young Global Leaders: Guide to Influencing Complex SystemsSustainable Brands
Valerie Keller sought to end homelessness by identifying its root causes rather than just addressing symptoms. Her team mapped the pathways
that often lead to homelessness, such as lack of affordable housing, poverty, lack of access to healthcare and the justice system's costly
treatment of offenses related to life on the streets. They concluded that comprehensively addressing factors preventing individuals from
obtaining and maintaining housing, like rent subsidies and supportive services combined with policy changes, could more effectively solve the
problem than temporary shelters alone.
This document defines entrepreneurship and outlines various theories of entrepreneurship. It defines entrepreneurship as the process undertaken by an entrepreneur to establish an enterprise. The document then discusses characteristics of entrepreneurship such as risk-taking and dynamic processes. It outlines the importance of entrepreneurship in generating employment, wealth, and development. The document also discusses barriers to entrepreneurship. Finally, it presents four main categories of theories of entrepreneurship: sociological, economic, cultural, and psychological theories. It provides examples of theories within each category such as Max Weber's sociological theory and the entrepreneurship innovation economic theory.
The document summarizes a discussion from a Stockholm futurists meetup about the concepts of "abundance" and "limits to growth". It outlines Peter Diamandis' view of an abundant future driven by exponential technology versus Paul Gilding's argument for "The Great Disruption" due to planetary limits. The two perspectives map to Jim Dator's "continuation" and "collapse" generic futures. The discussion explores which view to trust given different scientists' assumptions, how values may shift from growth to sufficiency, and whether new technologies appear cool or creepy.
This document discusses labor turnover in the logistics industry in Sri Lanka. It provides background on the challenges of labor turnover, including the loss of employee knowledge. The objectives of the research are to reduce turnover factors, establish health and safety practices, provide competitive salaries and flexible work schedules, and increase organizational performance. Literature on the history of approaches to managing labor is reviewed, covering scientific management, human relations theory, and more recent flexible work arrangements. High turnover rates in the logistics industry are discussed, as well as factors potentially influencing turnover such as 12-hour shifts, health and safety practices, and compensation.
WEF Report - Young Global Leaders Circular Economy Innovation & New Busine...Vikrant Mudaliar
The document discusses the sharing economy and collaborative consumption. It begins with a foreword noting the resource constraints facing the global economy and how the sharing economy offers a model of profound collaboration and consumption focused on access over ownership. The main body of the document then provides context, discusses what the sharing economy is and how it has evolved historically. It outlines different sharing economy models and sectors, how trust and reputation are important, and whether monetary exchanges are necessary. It concludes by discussing crowdfunding and how the sharing economy intersects with concepts like the circular economy.
The brazilian entrepreneurial ecosystem of startups: an analysis of entrepren...Fundação Dom Cabral - FDC
This document summarizes a study that mapped the Brazilian startup entrepreneurial ecosystem according to six determinants defined by the OECD: regulatory framework, market conditions, access to finance, creation and diffusion of knowledge, entrepreneurial capabilities, and entrepreneurship culture. The study involved interviews with Brazilian representatives from these areas and collecting quantitative data related to each determinant. It found that Brazil's entrepreneurship culture is favorable but other determinants like access to finance and fear of failure limit entrepreneurial activity. Comparing Brazil to other countries in Latin America showed differences in perceptions of entrepreneurship opportunities and capabilities.
Strategic Doing and the 2d Curve: the Story of FlintEd Morrison
Bob brown, a leader in the Strategic Doing movement, explains how he has used Strategic Doing to transform neighborhoods in Flint over the past eight years.
The Entrepreneurship Ecosystem Strategy for Economic Growth Policy: Icer 2011Daniel Isenberg
This document discusses the entrepreneurship ecosystem strategy proposed by Daniel Isenberg as a new paradigm for economic development. Some key points:
- Isenberg argues that we now understand enough about how entrepreneurship develops to deliberately cultivate conditions to increase entrepreneurship in a relatively short period of time (years not decades).
- This can be done through an "entrepreneurship ecosystem strategy" following certain principles to stimulate economic prosperity in a self-sustaining way.
- One principle is distinguishing entrepreneurship from self-employment and small businesses, and focusing on entrepreneurship which is aspirational and risk-taking.
- The entrepreneurship ecosystem strategy aims to address some policy mistakes made in previous economic
The World in Context: Beyond the Business Case for Sustainable Development is an essay by Jonathon Porritt, Co-Director of hrh The Prince of Wales’s Business & the Environment Programme (bep), Co-Founder and Programme Director of
Forum for the Future and Chairman of the uk Sustainable Development Commission. From the Business & Environment programme. University of Cambridge
The future of leadership is anything but predictable. We know for sure that it will be different from the way leadership is know and applied today. A different type of leader is going to emerge in the 4th wave.
The document discusses the need for organizations to increase their "metabolic rate" or pace of change to keep up with the accelerating rate of change in the world. It notes that the time between paradigm shifts has decreased dramatically and will continue to do so. Successful organizations must be able to constantly adapt their strategies, failing fast and iterating quickly to find solutions. Leaders must manage this metabolic rate and ensure their organizations have the ability to rapidly adapt and change course as needed.
The document discusses the development of a child's understanding of money and their relationship with parents over money in different stages from childhood to adulthood. It explains how children first learn about the value of money and where it comes from, and as they grow older start to understand concepts like budgeting, saving, and the importance of financial responsibility. The relationship with parents plays a crucial role in shaping a child's views and behaviors related to money management from a young age.
Is cultural diversity one of the solution to recreate the global economy for ...KamelionWorld
Diversity of thinking (age, culture, education, personality, skills and life experiences) is most important in global business.
Learn how to read between the lines in the recent report: The new global mindset: globalization and the changing world of business published by Ernst & Young.
Excellence sustainability and the bottom of pyramid paradigmSorab Sadri
This document summarizes the key concepts around excellence, sustainability, and the bottom of the pyramid paradigm. It discusses how managerial ethics and corporate governance lead to organizational excellence, which then needs to translate to business sustainability. At a macro level, corporate social responsibility is important for the interface between business and society. The bottom of the pyramid concept proposes serving the needs of the world's poorest populations as a business opportunity and addresses challenges around affordability, access, and availability of products and services for those populations. Entrepreneurship and partnerships are needed to create economic ecosystems that can sustainably improve livelihoods at the bottom of the pyramid.
You never felt fully part of this world where you had to make a living. Somewhere along the way, you had your “Blue Marble” moment… seeing that the world is interconnected, sacred, beautiful. And it is under threat. This is the moment where you were called to service...
This document discusses the relationship between ethics and entrepreneurship. It argues that ethics is an inseparable element of entrepreneurship and that ethical practices are necessary for long term business success. The document defines ethics and entrepreneurs, and presents modules showing how ethics, effort and will are all required for entrepreneurial success. Unethical practices can cause business failures, while ethical foundations help businesses to thrive and become leaders in their industries.
The document discusses how the environment influences culture in three key ways:
1) Environmental relativism - aspects of the physical environment are relevant to cultures and traditions, and cultures must adapt as the environment changes due to climate change.
2) Subsistence patterns, economic systems, and religion are all shaped by the natural environment and must change as the environment changes.
3) As the environment changes due to factors like climate change, individuals are forced to change their way of life and adapt their culture in order to survive. This causes traditionally nomadic cultures and environment-based traditions to evolve over time.
• The Momentous Gap- closing the environmental, social, organisational and leadership gaps we currently face.
• The Great Shift- the global shift toward renewable energy, resilient habitats, enlightened enterprises, holistic governance and integral leadership
• The Momentous Leap- the global mindshift and cultureshift driving worldcentric thinking and thriveable strategies, empowered by integral leadership
• Capability Shifts- What the next generation of leadership and strategic thinking capabilities are that empower the momentous leap and the great shift. How does this reframe the meaning and purpose of strategy, design, sustainability, resilience, human development and even evolution itself?
The document discusses the roles of entrepreneurs and factors that influence entrepreneurship. It defines an entrepreneur as someone who starts a business and takes on the risks of the venture. It explores characteristics commonly associated with entrepreneurs like optimism and self-confidence. The document also examines social and environmental factors that can encourage entrepreneurial spirit, such as having self-employed parents or experiences with family businesses. Finally, it looks at how communities and upbringing can shape an individual's interest in entrepreneurship.
Wef ygl circular_economyinnovation_positionpaper_2013FTSA Academy
The document discusses the sharing economy and collaborative consumption. It provides context on trends driving the sharing economy like resource constraints, technology advances, and demographic shifts. It defines the sharing economy and outlines its history. Key components include redistribution markets, product service systems, and collaborative lifestyles enabled by technology. Examples like Airbnb, Zipcar, and Skillshare are described. The document discusses factors like trust and reputation that enable sharing models with or without money exchanges. It also briefly mentions crowdfunding and its relationship to the sharing economy.
The document discusses how sustainable development and corporate social responsibility (CSR) are increasingly important for businesses. It notes that stakeholders now expect companies to operate responsibly and honor ethical values. Embracing CSR and sustainability can benefit companies in many ways such as improving brand image, increasing sales and attracting employees. The document advocates that companies integrate social and environmental concerns into their core business to create long-term value for both society and their own organization.
The document discusses market trends in 2012 and provides a look ahead to 2013. Some key points:
- In 2012, concerns about economic, environmental and government stability increased, eroding confidence. Sustainability became more interconnected.
- Grassroots citizen activism grew through organizations like Greenpeace and Occupy Wall Street. Local alternative economies and sharing economies also expanded.
- The document asserts that future leadership will require brands to establish themselves as platforms for purpose and collaborate to drive sustainable innovation.
- Looking to 2013, it suggests the "revolution" is over and attention should turn to continuous innovation to create meaningful value for both businesses and society. It reaffirms the role of brands in shaping what is considered
11.enterprise and sustainable development role challenges and opportunitiesAlexander Decker
This document summarizes the role, challenges, and opportunities for business enterprises in the context of sustainable development, with an emphasis on the Caribbean region. It discusses how business enterprises can contribute to the three pillars of sustainable development - economic growth, social justice, and environmental protection. However, it notes that small and medium enterprises may face more challenges in fulfilling all three pillars simultaneously due to constraints such as a short-term focus and lack of resources. The document also examines specific challenges faced by Caribbean businesses, which are predominantly small and face vulnerabilities such as a limited domestic market and high costs. It concludes there are gaps in understanding how businesses, particularly small ones, can effectively pursue sustainable development goals.
CORPORATIONS, SOCIETY, & STAKEHOLDERS
1. Corporations, Society, and Stakeholders:
https://www.fox.temple.edu/vault/video/corporations-society-and-stakeholders/
2. Watch the following chapters from the movie "The Corporation"
Chapter One "What is a Corporation?"
http://www.youtube.com/watch?v=Pin8fbdGV9Y
Chapter Two "The Birth"
http://www.youtube.com/watch?v=8SuUzmqBewg
Chapter Three "A Legal Person"
http://www.youtube.com/watch?v=wkygXc9IM5U
Chapter Four "Externalities"
http://www.youtube.com/watch?v=aCGTD5Bn1m0
Chapter Five "Case Histories"
http://www.youtube.com/watch?v=H3m5lq9FHDo
1. "The social responsibility of business is to increase its profits"
http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html
2. "Rethinking the social responsibility of business"
http://reason.com/archives/2005/10/01/rethinking-the-social-responsi
3. "Stakeholder Theory of the Modern Corporation" (.PDF file is attached above)
4. "In business for life"
http://www.yesmagazine.org/issues/go-local/judy-wicks-in-business-for-life
MANAGING & PRIORITIZING STAKEHOLDERS
1. "Stakeholder Theory"
http://www.youtube.com/watch?v=Ih5IBe1cnQw
ETHICAL PRINCIPLES
1. http://www.iep.utm.edu/ethics/
ETHICAL DECISION MAKING & WHEN GOOD PEOPLE DO BAD THINGS
2. "A Framework for Thinking Ethically"
http://www.scu.edu/ethics/practicing/decision/framework.html
3. "When good people do bad things at work"
http://www.scu.edu/ethics/publications/iie/v10n2/peopleatwork.html
4. "What makes good people do bad things?"
http://www.apa.org/monitor/oct04/goodbad.html5. "Psychology Of Fraud: Why Good People Do Bad Things"
http://www.npr.org/2012/05/01/151764534/psychology-of-fraud-why-good-people-do-bad-things
1.The Milgram Experiments
http://www.youtube.com/watch?v=W147ybOdgpE
Read the following article about the Milgram Experiments:
1. "The perils of obedience"
http://www.paulgraham.com/perils.html
CAPITALIST VALUES AND THE FINANCIAL CRISIS
"The Corporation- Chapter Six-The Pathology of Commerce"http://www.youtube.com/watch?v=s5hEiANG4Uk
Corporation- Chapter Eight-Mindset"http://www.youtube.com/watch?v=-hG-c1KY7Y4&feature=PlayList&p=FA50FBC214A6CE87&index=7
"The Corporation- Chapter Nine-Trading on 9/11"http://www.youtube.com/watch?v=yoQOXepaCjk&feature=PlayList&p=FA50FBC214A6CE87&index=8
"The Corporation- Chapter Ten-Boundary Issues"
http://www.youtube.com/watch?v=lDMenqKCXdw&feature=PlayList&p=FA50FBC214A6CE87&index=9
"THE CRISIS OF CREDIT VISUALIZED"
http://www.crisisofcredit.com/
"Materialistic Values and The Current Economic Crisis"
http://psysr.wordpress.com/2008/12/24/materialistic-values-and-the-current-economic-crisis/
"The People V. Goldman Sachs" (.PDF attached above)
"CAPITALISM BEYOND THE CRISIS"
http://www.nybooks.com/articles/22490
"MAKING CAPITALISM MORE CREATIVE"
http://www.fpsct.org/uploaded/faculty/johnsonc/U_S_History/Unit_5/Gospel_and_Gates.pdf
EMPLOYEE AS STAKEHOLDER
1. “A Dangerous Business Revisited”
http://www.pbs.org/wgbh/pages/fr.
Interbrand Best Global brands report 2021Social Samosa
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Leadership Vanguard - Systems Thinking Collaboration and ResilienceGareth Wright
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17 dr. sorab sadri final paper--175-192
1. Journal of Economics and Sustainable Development www.iiste.org
ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online)
Vol.2, No.4, 2011
Excellence, Sustainability and the Bottom of the Pyramid Paradigm
Sorab Sadri
Dean (Research)
Lovely Professional University,
Phagwara, Punjab 144402
Cell: +91 8437162591 E-Mail: sorab.sadri2010@gmail.com
Jayashree Sadri
Asst. Professor of Human Resources and Business Ethics
Lovely Professional University,
Phagwara, Punjab 144402
Cell: +91 8437162591 E-Mail: jayashree_sadri@yahoo.co.in
Abstract
The kernel of the author’s published work on the subject especially between 1999 and 2011 can be stated thus.
Managerial Ethics is the foundation upon which Corporate Governance is based. The two combine to create
conditions and a culture within which Organisational Excellence can be attained. Excellence however, cannot be an
end in itself and needs to cascade into Business Sustainability. This is at the micro level. At the macro level the
interface between business and society is called for and hence Corporate Social Responsibility enters the calculus
and when linked to micro reality concepts like the Triple Bottom Line emerge as a point of academic study and
concern for management and social scientists. It is within this context that the argument of this paper has been
predicated.
Keywords: Ethics, Governance, Excellence, Sustainability
Introduction:: Many scholars have pointed to various practices and philosophies in the world today as being useful
to sustainability. In order to distinguish which activities are destructive and which are benign or beneficial, various
models of resource use have been developed. Using the Wikipedia, sustainability can be defined both qualitatively in
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ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online)
Vol.2, No.4, 2011
words, and quantitatively as a pair of compound exponentials—the rising one being the life of a system, the
declining one leading to death if the final tipping point for intervention is irreversibly past.
Some scholars now consider the term "sustainable development" as being too closely linked with continued material
development, and prefer to use terms like "sustainability", "sustainable prosperity" and "sustainable genuine
progress" as the umbrella terms. Despite differences, a number of common principles are embedded in most charters
or action programmes to achieve sustainable development, sustainability or sustainable prosperity. These include the
works of Hargroves and Smith (2005) and Sadri and Jayashree (2011):
Dealing transparently and systemically with risk, uncertainty and irreversibility.
Ensuring appropriate valuation, appreciation and restoration of nature.
Integration of environmental, social, human and economic goals in policies and activities.
Equal opportunity and community participation/Sustainable community.
Conservation of biodiversity and ecological integrity.
Ensuring inter-generational equity.
Recognizing the global integration of localities.
A commitment to best practice.
No net loss of human capital or natural capital.
The principle of continuous improvement.
The need for good governance.
Since its first coinage in 2002 by C. K. Prahalad, the Bottom of the Pyramid has become a standard in any manager’s
portfolio – a cliché almost, not necessarily in the Nietzsche sense of implying mediocrity, thought it could well
include it. No manager or a millennium company can dream of the new buzzword “sustainability’ without recourse
to BoP. As succinctly put by Bill Gates “Prahalad argues that companies must revolutionize how they do business in
developing countries if both sides of that economic equation are to prosper… his new book offers an intriguing
blueprint for how to fight poverty with profitability”. What is even more prophetic (in the timing) is the collapse of
the Great American Dream in the last 5 years, perhaps not foreseen in 2005, and the BoP as a lifeline for the
marginalised. In the flyleaf of 2009 impression of the book, Madeline Albright’s comment “if you are looking for
fresh thinking about emerging markets, your search has ended” bears this out. BoP is an idea whose time has
come: to replace ‘emerging’ by ‘growing’ and ‘thinking’ by ‘actions’ – if a company needs to survive!
Therefore, the question is posed, (managerially speaking), where are we? Unfortunately, the answer is still largely
anecdotal and BoP is doing the rounds of after-dinner and seminar-theme speeches. Since BoP paradigm is not a new
marketing mantra, instantly applicable – there are a few takers in this get-rich-quick and big-is-beautiful
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ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online)
Vol.2, No.4, 2011
environment. There is yet no ripple effect of the magnitude, which should be there. Since margins in established
(read developed) markets are dropping to less than integer levels, the instant answer lies in volume – ‘we don’t put
percentages in the Bank, we need dollars’ mentality. Thus the world of “Mergers and Acquisitions”,
big-fish-eat-small-fish syndrome, where companies and businesses are akin to the food chain! Nevertheless, the
economy ‘is broke’ so we need to fix it! Metaphorically, gluing (M&A) is okay but is there enough strength in the
glue to hold the broken pieces together sustainably? Alternatively, should governments intervene in the laws of
supply-demand and go ‘socialistic’? We can ill afford to forget the collapse of the Soviet Bloc economy!
The Paradigm Shift:: The good news is there is acceleration in the BoP initiatives! The first steps are those of
recognition and understanding of the situation (i.e. at the bottom of the pyramid). Boxing it as into “economic
groups where income is under $4 per capita per day”, demarcates but hardly defines what the market and more
importantly the players are like: consumers, supply-chain and suppliers. Reading cases and watching CDs of the
geographic locations, awarding Oscars for realism is OK as a starter – but still does little to develop the feel required
to base managerial judgment.
A whole new set of attributes and ‘ways-of-working’ have to be put in place. The vital kick-off in Management
Strategy is Environmental Scanning, which is condensed into socio-economic trends/data-bases for number
crunching to do its magic. At the bottom (or the less pejorative “base”) of the pyramid, this information barely exists!
Much of the ‘economy’ is parallel – outside the pale of Governmental or even “authentic” market research:
judgment and understanding becomes crucial. Strategies have to be intuitive rather than economically rational or
should we say ‘intuitively rational’ – creating logic of its own (bounded rationality revisited!). We need to enter
the world of ‘disruptive innovation’ – working for us.
A very telling point has been made with the nomenclature itself: “why don't we call the world's 4
billion impoverished people the "Global Majority" rather than Bottom of the Pyramid?” BOP is
within a hierarchical structure reinforcing the powerlessness of the majority of people on the planet.
Let's recognize the Global Majority, not only as a viable market to be developed, but as vibrant
partners to be embraced, partners in whose future everyone else's are inextricably linked.
The future prosperity of Earth requires a major shift in sentiment. Individuals in Western nations have
grown use to the idea of growth and that more is always better. Consumption has become easy, fast,
customizable, and ultimately unsustainable. However there is a major opening for a shift in
understanding. More and more, the 20th century's version of success is being challenged.
Entrepreneurs and the business sector have both a particular opportunity and a particular responsibility.
The responsibility comes from the simple fact that climate change is inextricably linked to the 200 years
of an industrial age which achieved ever greater economies of scale, ever lower prices, ever more
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ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online)
Vol.2, No.4, 2011
disposable products, at an ever greater cost to the earth. When the environment moved off the bottom of
the balance sheet and became an "externality" - a cost that someone else would have to pay - it set the
clock ticking on a debt that would one day have to be paid. Time is now: Society can no longer
reasonably bear the cost for the mode of production. Therein lies the opportunity. Now is not the time for
thinking little. There are a million historical quotes that would be appropriate here e.g. Lincoln's "The
dogmas of the quiet past are inadequate for the stormy present," the point is largely the same: go big or
go home.
What does the ‘fortune’ look like? In 2002, Prahalad and Hart created the “economic pyramid” with 5 hierarchies in
terms of Purchasing Power Parity and set the lowest level at <$1500 with a population of 4000 million. Reasonable
current estimates put the purchasing power of the BoP at US$5 trillion a year. But the real ‘value’ goes beyond mere
profit for large corporations. For example, Procter and Gamble’s Pur water purification product has saved thousands
of lives over the last nine years. Is this something “new” - a new market out of nowhere? Unfortunately not – it is a
miscalculation arising from the “dominant logic” of earlier Businessmen and Entrepreneurs and indeed of the social
fabric:
Marketing Strategy “Targeting”: Cost structures do not permit BoP
customer“ Segmentation”: Poor have no use for our
products.
Prioritization Technology Push vis-à-vis Market Pull and BCG analysis:
strategic importance of BoP markets
Knowledge Intellectual stimulus in ‘developed’ markets (competition)
Resource Deployment Low priority, particularly for Human Resources
Technology Adoption High tech not easily adopted by ‘ill-literate’
The massive strides made in communication, mass-media/TV etc. (and of course IT to take all this forward in the
convergence of Communication and Computing) does not require a erudition or even formal education to
carry/position the product or service message. Outdoor advertising – an old war-horse, further reinforces this with the
same pictorials reproduced to reinforce the subliminal. Prahalad and Hart have found that “Contrary to popular
view, BOP consumers are getting connected and networked. They are rapidly exploiting the benefits of information
networks”. Two good cases in point, disproving conventional ‘wisdom’, are those of:
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ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online)
Vol.2, No.4, 2011
(a) Mobile Telephony – ‘ill-literates’ are very comfortable with mobile telephones. In fact they are so savvy that today
they are switching on pump-sets using mobile phones! Also, Speech requires no literacy; so communication has
improved many-fold. Prahalad and Hart exemplify this ‘force multiplier’, with mobile telephony providing the where
withal for the Grameen Bank success story at the ‘basement-of-the-pyramid’ society; house eke out both a living and
generate a surplus by ‘renting’ out phones – a mobile public call facility, bought with money borrowed from Grameen
bank. Similar stories area repeated in Brazil (Telephonica) and India has leap-frogged to no. 2 rank in telephone
connections in the world in just 4 years and this is growing at the rate of 1.5 million/year!
(b) Brand and value consciousness – since ‘affordability’ is so important to the BOP consumer, the value expected is
far more. The runaway success of ‘single serve’ packs (sachets) for top-of-line cosmetics and snack foods is ample
testimony of this phenomenon. In Brazil, Casa Bahia organization, a retailer firmly rooted to the shanty towns, sells
top-quality brands like Sony, JVC, Whirlpool – BOP customers want the dream they see on TV, not a cheapened
version of the dream. They cannot afford to pay the large up-front payment, but are quite happy to make small
installment payments for their dream product. Interestingly, more than 45% of Casa Bahia’s total sale is from furniture
and brown goods and the rest is spread over telephones, computers and other appliances. Michael Kline, founder of
Casa Bahia, says “When a customer walks into a store, they are not buying a stove or TV, they are buying a dream. It
is our job to fulfill that dream – this aspect of business is not understood by many of our competitors, especially
foreign.” This is more than just ‘aspiration’.
Finance is another aspect which has been the bane for most marketers. BOP customers have no money for ‘value
added’ products, not even for what is considered basic. The most telling comment has been made by Michael Kline
Finance here is totally different from what one learns in schools. First,
the informal market is at least twice a big as the formal market; most of
my customers do not declare their income I have to believe what they are
telling me. Here, many Multinationals (Sears and Wal-mart, for
example) were not able to understand the customers need.
Very much on the lines of John Maynard Keynes who spoke of creating demand through an increase in aggregate
disposable income, Prahalad and Hart opine that we have to create the capacity to consume. Traditional approach via
‘charity’ and ‘free’ does not create sustainable business; it only gives the donor a temporary ‘feel-good’. Creating this
capacity to consume is based, as per Pahalad and Hart, on three “A’s”:
Affordability: without sacrificing efficacy or quality;
Access: time and distance matter most; BoP customers cannot afford to travel distances considering costs and
opportunity loss (of income);
Availability: Cash on hand at that instant is important, if they cannot buy ‘X’ they will buy ‘Y’; they cannot defer
buying decisions, there are many claimants for that surplus. “Switching costs” are thus negligible.
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Vol.2, No.4, 2011
“Trust” plays a big role in creating business. Without ‘collateral’, money is not forthcoming. MNC’s often assume
that the default rate among the poor will be higher than that of their rich customers. Practice proves the reverse is true!
The default rate in Grameen Bank, dealing in micro-finance, is 1.5% among 2,500,000 customers; in ICICI Bank the
rate is less than 1% for 200,000 customers in micro-finance. The logic is very clear for the BOP customer: the
alternative finance is 50 times more expensive and certainly underhand if not underground. In India, ‘personal loans’
from recognized banks can be obtained at/around 15% p.a interest; for the BOP customer without credit-worthiness
the money-lender will lend at/around 600% p.a. – security is in the form of ‘grievous bodily harm’. Prahalad called
this the ‘poverty premium’.
The New Order:: The new order has to come from ‘zero-based’ thinking. More importantly, to sustain this as a viable
business proposition, wealth must be created at the bottom of the pyramid. Managers need a new philosophy of
innovation and product and service delivery for the BOP markets.
Not only managers but firms and businesses in aggregate have to engage in generating ‘eco-systems’: CSR has to be
discharged as a necessity for the live and let live relationship.
Sadri argues that when we start to talk of economics in a macro sense but in a limited area, we arrive at economic
‘eco-systems’. Obviously, one cannot walk-the-talk alone – economics is not dictated by a firm or an industry alone –
partnering in many dimensions is needed. Society in all its manifestation has to be leveraged to create this
environment. BOP population will need to, at the same time be entrepreneurial partners, part of the supply-chain and
consumers. In short they will have to become active stakeholders – the growth and opening of markets will have to be
‘inclusive’ for sustenance to take root. Simultaneously, the following have to be established:
(a) For the entrepreneurship and partnering in business, money will need to injected and circulate. This entails a fair
degree of self-governance: micro-savings has to precede micro-lending. The poor must be empowered to break the
dependence on the flow from the top, even governmental intervention must lead to (micro) wealth creation – given the
transient nature of subsidies and outright charities. A significant step in this direction is to provide direct access to
information – so ‘easy’ in this information age. “Middle-men” have their own interests to take care of, so information
from those sources is heavily loaded. The huge success of ITC’s ‘e-choupal’ is a fitting case in point.
(b) Towards this end (self-governance), BoP citizenry must be guided to form “Self Help Groups” (SGH) as the first
concrete step. This formation can be catalyzed by inducting NGO’s in the loop – since ‘social re-engineering’ and
development is their main aim. Politics and pecuniary interests do not confound or colour the issue. This cuts two
ways: (i) culturally, it is impossible for an urbanized manager to comprehend the nuances of needs and mind-sets in a
short time (even a life time may not be enough!).(ii) business-wise, avoids clash of interest: after all subsidies and
private enterprise do not mix well.
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(c) With this SGH’s in place the work of mobilizing savings can seriously start. The housewife plays a dominant role
in this process. The ‘disposal income’ rests in the hand of the lady of the house and her drive for bettering quality of
life (for the family) transcends by far those of the man; both Grameen Bank success and “Shakti-amma” movement
have demonstrated this. It is quite common to see the ‘man’ in BoP societies drowning sorrows than creating an
invest-able surplus! Again, NGO’s and government can significantly accelerate this process.
(d) With micro-savings habit taking root, Banks and enlightened firms can step in to help mobilize the seed-money for
any form of ‘micro’-partnering and entrepreneurship. Both the Supply-chain and Demand-chain can be boosted. In
BOP societies the social-integration and support system is bedrock.
(e) Leadership will emerge from this melting-pot. With some education and support from the facilitators (banks, firms,
NGO’s) these natural leaders can be shaped to become the business leaders in the nascent eco-system. Local politics
will intervene and may not necessarily be damaging. With the movement gathering momentum, it is natural that this
movement is ‘included’. We opine that this should be encouraged to keep at bay, as much as possible, the other forces.
The legendary Verghese Kurien demonstrated this in the famous AMUL story.
(f) With this process, the micro-finance cycle will start. The pump for the business cycle then is in place. The loop is
effectively completed!
As we argue in our forthcoming book, the key to the economic sustainability of BoP business is volume. Many such
micro eco-systems need to operate, even in relative isolation, to generate this volume. Ultimately, the goal of this
movement is to bring many people as possible to enjoy the benefits of an ‘inclusive’ market. It then allows large firms
to build new and profitable growth markets, with extremely time and cost-effective systems.
The twin goals of good business and good society are achievable – a dream realized. The ghost of conflicting political
thinking (Capitalism and Communism – as a fall out of the industrial age) at the turn of the last century can perhaps be
put to rest in this millennium. The goals having been delineated but what remains is to actualize them by achieving and
sustaining global competitiveness.
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Achieving and Sustaining Global Competitiveness: India started imbibing technology in a serious way since 1980,
liberalizing its economy since 1991 and became a part of the WTO regime in 2005.. Today its markets are fast
integrating into the world markets. Trade barriers are going down. License Raj is almost over. The Octroi Check
Pints are being privatised. Foreign capital is being welcomed with open arms. On the global scene, technology has
become the driving force of change. Businesses world over are globalizing. Western Europe is becoming a
federation through EEC while Eastern Europe is Balkanizing like through creation of new states from the erstwhile
USSR. But in both cases international business is heavily factored into the macroeconomic calculus.
As our business globalizes and interlinks itself with the world, the nature and range of business opportunities as well
as challenges for us are extensive. Present day competitiveness in the global market place is determined by
organizational and technological innovations, superior and consistent product quality, and customer satisfaction by
delivering more than he expects at competitive prices.
The threat that the emerging trends in the world markets will render us un-competitive in the coming years looms
larger. Already we are facing the pinch with Indian buyers looking overseas for products that are either of superior
quality, of lower cost or both. In other words, they are looking for value for money. They are demanding customized
solutions, excellent service at competitive prices. In this quest, they do not hesitate to look beyond the shores. With
the rapid advancements in telecommunications, information flow is instantaneous.
In this scenario, we find ourselves at crossroads. Do we go on to the front foot or the back foot? In other words, do
we take the battle into their territory or merely try to defend our territory. Looking at the global trend where
businesses are trying to outsource all items and services except for a critical few. At a situation where emphasis is on
partnership in the production process where each player produces, only what he is most competent at, an inward
looking strategy is bound to fail. Either we have to join the mainstream of corporate life in the global village or we
will be at best left as a small player in a small niche.
In our endeavor, we have to move from the state of international pessimists to international achievers. We will have
to shed the negative attitude towards competing in the global markets. We have to bury our fears for once and all.
We need to develop an increasingly positive attitude towards international business and being competitive in the
global marketplace. We have to move to a state where the globe will be our marketplace, both for sourcing and
selling. We have to develop the skills and knowledge to become world-beaters, i.e., reaches the state of being
international achievers.
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How do we do it? What are the necessary steps that will ensure that we are able to build up on our competitiveness
and become global players in our product markets? I have tried to identify some critical strategic initiatives, to
progressively build organizational competence, capability and competitiveness. However, it will be crucial that
organization wide consultations are held to determine the exact policies with participation across all managerial
levels. These are:
Customer Driven Approach: In the global market place, the customer has a wide range of choices, and as such, he
is more demanding and selective in his choice. He demands more value for money in both the tangible form such as
a superior product and intangible form such as courteous and prompt service, proper guidance and training. Today
service is becoming the biggest determinant of satisfaction. Right from the time when the Company first is exposed
to a potential customer, the service starts. Be it in the form of replying to queries, giving a demonstration of the
product, training to use the product, sales, and delivery and after sales follow-up and service. The emphasis is clearly
on building a mutually beneficial relationship. The customer gets greater value for money and the company benefits
from his patronage for the existing as well as new products. The customer is the greatest carrier of brand equity. By
his word of mouth recommendations, which are more effective than many advertisements, he can build a brand
overnight.
The most important characteristics of successful organizations such as Sony, 3M, and Microsoft have been their
nearness to the customer. In our endeavour to become global players, we have to put the customer at the centre of
our strategy. This customer-based focus will provide the foundations for developing the organization’s vision,
strategy and structure.
Strategic Outlook: Strategy is a deliberate search for a plan of action that will develop a business’s competitive
advantage and compound it. This search is an iterative process that begins with recognition of where we are and
what all we have. We will have to embark on this exercise of determining where we stand in the present market and
what resources we have.
The fundamental basis of above-average performance in the end is sustainable competitive advantage. There are two
basic types of competitive advantage that we can possess: cost leadership or differentiation. The results of the above
exercise and the vision that we determine for ourselves will decide whether we go for being the cost leaders or offer
differentiated products that will ensure our competitiveness and leadership in the global arena. However, the
sustainability of either requires that we possess some barriers that make imitation of the strategy difficult. Since,
barriers to imitation are never insurmountable; it is imperative that we keep moving, updating our skills and erecting
yet newer barriers. A moving target is the most difficult to hit by the competitors.
Corporate Governance: The Quality of Corporate Governance depends on the quality of the Board. The Board must
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be compact and balanced. It should be made of individuals from different disciplines having diverse viewpoints. It
should be capable of appreciating the issues put forward by the management and discharge its duty towards the various
stakeholders in the organization. It should also keep the company abreast of the latest happenings in the corporate
world and evolve strategies to maximize the welfare of the various stakeholders towards which it is responsible.
In the past, we have confused to role of the Chairman and the Managing Director. Taking a cue from the PSU’s we
had a single individual occupying both these posts. However, today it has become necessary to separate the offices
of Chairman and the Managing Director. Division of powers at the top and the concept of “four eyes” have come to
stay. Business Ethics must combine with Corporate Governance if Organisational Excellence has to be
approximated.
The Chairman will be responsible for re-vitalizing the Board of Directors. He has to ensure that fresh talent is
inducted into the board to keep it fresh. A proper succession program has to be developed. He will have to set up a
committee for evaluating the performance of the CEO and fresh appointment of directors.
The Chairman should ideally be a multidisciplinary professional. He should be a leader of men. He should be
capable of enthusing the employees with a sense of purpose to achieve the organizational goals. He should also be
a visionary, as he is the one who would provide the direction to the company in the years to come.
The Chairman along with the Board should be responsible for defining the vision of the organization that derives
realistically from the company’s strengths and that builds on a distinctive competitive advantage.
A good system of corporate governance will ensure that we do not lose sight of our vision and purpose. It will also
ensure that we are fair to all stakeholders in the company. In the end this relationship with the stakeholders will
determine the corporate image, which is essential for the growth and diversification of the company.
Process and Innovations: Until now, our approach to quality has been the final test carried out by the Quality
Assurance department. This concept has to be thrown into the trash box. Quality will have to become an ingredient
into our products and services if we are to be competitive. Every member of the organization will have to strive for
achieving the highest standards in quality. We have to get the products right the first time. In the competitive market
place, there may be no second chance. Today everything is being finely scheduled to the last second. There are
simply no lags. For any product, the whole of the supply chain has to perform its part, in time. Getting it right the
first time is the only option available to a global player.
We, have to remove the misconception that better quality increases costs. Rather, multitudes of companies have
shown that having better quality in fact brings down the costs. This is true if we see the cost of rejections, reworking,
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production time lost, labour time lost and the time spent in fire fighting once a bad lot has been dispatched.
In the past, we have followed the approach of doing old things better and faster. Improving productivity through
removal of inefficiencies and improvement in process efficiencies had been our goal. While this would still be
required, in a world where change is the only certainty, these measures would be unable to sustain our organization
for long. What we need today is bringing about an organization wide cultural change to commitment towards
innovations, development of new products and services. A dedication to become pioneers in areas, which merely
exist as remote possibilities today, becomes necessary if competitiveness has to be achieved and sustained. This
means that the corporation has to be value based i.e. ethical and exhibit a total dedication for creating value for the
customer i.e. be value driven.
For this, we have to learn to tolerate failures. If there are no failures, it implies we have not tried our hands at lots of
things. For an organization to be a learning organization in the spirit, we have to develop a culture where a failure
does not mean a setback in the career for a highly talented individual. Rather he should be evaluated on the criteria
of the quality and quantum of effort that he has put in. From another angle using the Harvey Liebenstien model of X
Inefficiency, we can argue that there is an inbuilt inefficiency in all persons, processes and systems. Unless it were to
be so technological, progress would not be possible.
Learning Organization: It is beyond doubt that there exists immense opportunities in the world market. Yes, they
are there for us too. However, starting from behind, our managers will need to perform much better than their
counterparts in the developed world do. If we are to move out of our slumber and move ahead towards the vision of
not only catching up with the global players in our areas of operations but also forging ahead of them and becoming
the trendsetters we have to strive to develop a culture of continuous improvement. Business it becoming increasingly
knowledge driven as we make progress with technology. Innovations both organizational and technological are
setting the pace for change. In the past few years, capital and labour accounted for only 25% of the total growth in
developed countries. The remaining 75% come predominantly from technological innovations. That the
technological and managerial innovations are going to shape up the coming competition more intensely is under no
doubt.
In today’s technologically driven business paradigm, it is knowledge that commands premium in the marketplace.
Thus, acquiring and assimilation of knowledge becomes an essential ingredient in the strategy for global
competitiveness. For this, we require to develop systems that foster the process of knowledge acquisition and
dispersion within the organization. To see how well we are doing we will have to consistently benchmark ourselves
against the best, not only in our line of business, but also in other businesses where similar processes might be used.
We have to keep abreast of the happenings in the world and embrace new developments/ideas faster than our
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competitors. In short, the organization has to constantly update its knowledge and develop new skills. The process of
learning in the organization has to be a continuous one.
Integration of IT in Everyday Work: Today the advances in IT are fundamentally changing the way business is
done. The concept of supply-chain management, electronic commerce etc has been made possible with the huge
strides in computing and telecommunication technology. The fusion of increasing computer power available cheaply
at the users’ desktops and rapidly growing telecommunication technology will provide the kind of energy yet unseen.
This will propel organizations into changes at a very rapid pace almost on a daily basis. Those who lag behind will
be obliterated. For us this calls for a fusion of computing and networking technologies into the corporate strategy
and in the organizational structure. We have to move towards where we would be able to source and distribute
information, products and services across the globe. The concepts that will make these happen are Internet, Intranet
and electronic commerce. With Internet, customers can access information from any corner of the world. With
electronic commerce, they would be able to place their orders and make payments online. With Intranet, we will be
able to decimate information to our branches and plants across, include the suppliers, distributors and key customers.
Thus, this would extend our reach to the remotest areas with great speed and very little investment.
With on-line discussions and brainstorming sessions, the ideas can be put through much faster across the
organization. It will carry new concepts and get people started on new things. Decision-making and implementing
time will be cut dramatically and the inputs for it will be superior and versatile. Confusions in communication will
be avoided, leading to better functioning of the company. Thus, our ability to become global leaders will depend
largely on how we are able to harness the powers and flexibility provided to us by the growth in IT. In addition, how
IT fits into the corporate environment becomes the task of Strategic HR.
HR on the Corporate Map and Appropriate HR Systems: Because of liberalization and globalization, human
resource management (HRM) has acquired strategic importance. The quality of human resources available to the
company and the relationship will determine whether we succeed in achieving our vision or be relegated to being an
also-ran. Thus, attracting, developing and retaining superior knowledge in the form of human resources will be a
priority for the organization.
However, before we do that there has to be a paradigm shift in the employee-manager relationship. It would be
imperative to have flat and non-hierarchical organization if such people are to flourish. It would call for breaking
down the communication barriers, with information and knowledge to be shared across the organization. It also
calls for empowerment in the decision making process. Thus, the people will have greater freedom and latitude for
developing and delivering to their potential. Proper HR planning and HR development activities have a very
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important role in achieving this.
Logically one can visualize a corporate culture that values trust, honesty, ethics and transparency in all actions for
the modern organization. This will negate the need for controls at every step. Peer pressure and the culture of the
organization will become the controlling and motivating factors.
All these calls for integrating HRD in the corporate strategy formulation and developing appropriate HR systems that
will ensure the acquisition, development and retention of the vital human resources and provide them with the climate
in which their talents would flourish and they would be able to achieve their potential.
The Manager of the Future: Today the global trend is that of an intrapreneur (an entrepreneur within the
organization) a la Pinchot being the ideal individual for bringing about innovations. Many of the product and
process innovations are brought about by teams rather than isolate individuals working under large corporate
settings. Sony and 3M instantly come to mind when one visualizes such an organization. One expectation here
would be that the new breed of intrapreneurial managers would be pioneers. They would be able to develop new
markets, new products and innovate the entire industry, set the pace for the participants in that industry. At the local
level, it would require monopolization of market niches, having complete supremacy in them by making available
superior products at competitive prices and providing high valued services, i.e., aiming for total customer
satisfaction and surpassing it.
The work will increasingly be done by cross-functional teams, which will progressively become self-managing.
Managers will now be more of facilitators rather than commanders. The managers will be exposed to virtually
unlimited data requiring an ability to visualize common pattern between seemingly disparate phenomena. For this,
we want managers who will not only have sound and up-to-date management and technical skills, but more
importantly should possess imaginative and creative thought process and are good team players. Our vision of a
modern day professional manager is thus of a dynamic professional who combines risk taking with risk management,
infuses academic rigour to practice vigour, merges cold analysis with creative synthesis, possesses hindsight with
foresight and exhibits spontaneous verve with steely nerves. It is a tall order for one no doubt. However, if we are to
succeed in the global arena we have to achieve this.
Conclusion: Survival and growth in the coming decades will depend upon the speed at which we are able to
respond to and predict the environmental conditions. The key resource for competitiveness in India would be
knowledge and skills that are available to us and how fast we are able to upgrade it. Delivering value to the
customers will form the base on which our vision and strategy will be based. A clear formulation of strategy would
give focus to our efforts. In addition, all this would be possible with quality people in each sphere of company’s
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activity.
Let it be made absolutely clear that managerial ethics, corporate governance, organizational excellence and business
sustainability are the sine qua non for developmental growth in this highly competitive environment at the macro
and the micro levels. We do not have the luxury of the leisure class and we do not have colonies to financially
back-up our liberal economic notions of welfare. The break or make will come only if the entire civil society is
galvanised into radiant activity and works together for its upliftment. Today, we need to get together to give
direction to our industry and business, determine its vision and objectives. We need to finalise critical issues and
adopt a schedule for action based on the results. We must have our feet firmly rooted in ethics and ensure that
governance goes beyond mere compliance and becomes an instrument to achieve both excellence and sustainability.
Therein alone lies our salvation.
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