The book is dedicated as “Dedicated to honest and upright government officials in all emerging markets for the courage they show every day” and was pulling my attention. Thanks to my friend Shradha for introducing me to book. Awesome read. Recommend to everyone working in indian IT industry( service company and also MNC).
There is good review of the book by Kajari Mukherjee in PDF format. This blog is my acknowledgement to Ravi Venkatesan that his book provides a good perspective about state of affairs from a very balanced position. Going forward, I would not ask some questions on corporate practises as I have answers acceptable to me and focus to develop courage to take action wherever possible,
Being who I am, I was able to connect with the following.
- “Their choice is between spending countless hours defending themselves or paying one or more tax to individuals so that they can focus on business.”
- Lawmakers struggle to find the middle ground between industrial development and defending the rights of small landowners.
- Adversity breeds innovation and new capabilities. it is precisely because India is a difficult environment that it is important to learn to succeed here.
- You need to have an end-to-end view of the business and think not just about sales.
- Put their careers on the line and do what is right. How do you look for evidence of courage? The absence of passion and drive is a dampener, but the drive for results by itself is not enough. It is an extraordinary test of who you are as a person and as a leader.
- Learning agility is a capability that can eb strengthened by experience, by repeatedly throwing young leaders into ever more complex and difficult challenges.
Being in start-up, I was able to connect with following
- The bottom of the pyramid represents an opportunity to earn trust and goodwill through social responsibility and shared value initiatives.
- It is easier to skim the top of the Indian market than to figure out how to crack the challenging middle market. To continue to grow requires the courage and commitment to move down and compete in the larger middle of the market.
- People working in emerging markets need to have an explore and learn approach. They have to be profitable but not every month.They can spend money, adjust and fine-tune their business model and then make money.
- Taking a bet on someone and thrusting her in to a larger role is a proven process and the only one that I know works.
- Middle market customers have limited disposable incomes but big aspirations; they will not accept products that compromise quality or functionality.
- You cannot understand he life of a fish unless you dive in to the water.
- Most people do not achieve much when you give them a slightly higher target; they operate out of a fear of failure.
- It is possible to build a brand without a huge budget.
- Western Executives are often transactional; they focus on the issues and numbers, but fail to develop relationships. Managers invariably try to optimize their company interests as they believe that is what they are paid for. It is tough to engage with key stakeholders in ways that do not come as pure self-interest.
- M & A always require support from the top. If the senior management does not support the M&A strategy, the deal will fail.
Exploring data analytics, I liked this sentence “A fundamental problem about the world is that data is only available about the past. if you wait, until the data is clear, you are going to be taking action when the game is over.”
Let me complete blog with book sentence ” The more difficult the market us, the more money we make, because others struggle more, or not even enter.”