Although we all know websites, particularly those which offer free utility services like email in general use our data to finance their business. However, consumption websites/ portals and platforms use something called data colonization to finance, operate and earn profits. Here I take an example of the data policy from one such website.SELECT“Business of Intelligence: Insights from Data Policy of x——x”
Many brands grapple with a fundamental problem: how do you profitably build a company in hyper-competitive markets? Driving incremental product innovation is a common strategy but one with low odds of success when the value-add may be minor and the product remains comparatively undifferentiated. There is a better approach to reigniting growth: create your own category.SELECT“Building a new market category is not for everyone. It takes vision, stamina and lots of guts.”
Back in the last century, Peter Drucker said, “Culture eats strategy for breakfast!” This statement holds true today. I would add that the same culture will eat innovation for lunch, and transformation for dinner. What I mean is that the organizational culture defines the way companies innovate and ultimately how they transform.SELECT“An effective Corporate Intelligence Strategy keeps culture on a diet”
Digital transformation will work when business leaders focus on changing the mindset of its members as well as the organizational culture and processes before they decide what digital tools to use and how to use them. The driving force behind initiatives is “what the members envision to be the future of the organization” which in turn drives the technology, not the other way around.SELECT“Its about the future and not about the hype”
Innovation is the most critical component of a successful company, no matter the size or structure. Businesses with the innovative advantage are businesses that are able to scale, stand out, attract the best talent and stay top of mind in an increasingly crowded marketplace. Some business owners are hesitant about R&D because of the expense and uncertainty, but it’s also important to think about the risk of staying stagnant. Will your competitors surpass you? Will you go from a market leader to a follower? Will your customers opt for something better or more efficient?SELECT“India’s business leaders should rather run a risk of innovation rather than running the risk of stagnation in an effort to create wealth”
Apparently, After more than 50 years we as India have not been able to produce one global company which can manufacture (not just assemble) computing hardware in India and export it to other countries, who wants to take credit of that?SELECT“What present mobile assembling companies can learn from an era gone by?”
Across trade fairs targeted towards foreign buyers. the creativity and craftsmanship of India-made products is amazing. While Indian Business Leaders are hard-pressed to compete with equivalents from China on a price perspective, locally made goods are undoubtedly superior in terms of design and innovation. This is what keeps foreign buyers coming back year after year.SELECT“Graduating from the 89% mindset to the 1% mindset !”
Technological and social innovation are central to move towards sustainable development, key to economic growth, and increasingly important for a country’s sovereignty on the global scene. Creating an environment for enabling Patents, and contract research. Establishing dedicated spaces in universities, science parks and around research infrastructure as hubs where a multitude of companies, students, researchers and other citizens can form a community of innovation – an “innovation ecosystem.”SELECT“What India cannot do without ?”
STATE OF NEW BUSINESS INITIATIVES IN INDIA
Although while talking of future of India most people talk about importance of MSMEs, Developing Industrial Zones and Business Centers, Entrepreneurship, Farmers, Rural India, Skill Development and Startups, migration and reverse migration; Most people fail
Let us say, that you decide to start some business. This example shows, few steps that you can take in order to gain confidence in your decision. I take an example of an idea / thought which anyone might have. Remember, This is just one possibility.
In cases where a person has money to start a business, he or she can take two pathways. One which leads to starting a business and then putting in money as and when required. And secondly, analyzing the kind of money that would be required and then starting the business. Here, I discuss the second pathway. Remember, there is nothing wrong with the first pathway.
For any business to be successful it is important to manage and be successful at very many variables. Moreover, every business has a different set of such variables. Lastly, every person has a different view of success. By taking an example, I show why it is important to have clarity and specificity at the beginning of every opportunity assessment.
Although, someone working in the same sector or industry as XYZ business will let you know the profitability according to his experience of one, two or three companies he has experience of. But, Profitability assessment is critical to stepping into any business. Such assessment can be done depending on the kind of business you are looking at. By an example I, explain this.
Franchise as an option to enter a market has been a well established option. For example, Domino’s is operated in India on a franchise model. Many things are offered as franchise, like brand name, business model, technology, invention, etc. etc. Here, I list bare minimum essentials in evaluating a franchisee. Remember, this is not a list of entire things to do.
Many people disregard a business opportunity because they believe that there are not enough profit margins in that business. It is easy to directly correlate a products profit margins to business profitability and wealth creation. Here, I explain the same with an example
More often then not ideas die. Life of an idea is very short mostly due to the fact that ideas are risky. Furthermore, ideas worth pursuing originate from original and creative people who have better observation talents and who actually think about ideas. Here, I give one possible template of how to move forward after getting an idea.