But that is not enough. There needs to be an experiential moment of truth that gets the CEO committed to the country.
Conquering The Chaos Win In India Win Everywhere - olinewanim.ml
This often happens when the global CEO spends enough time on the ground in India to see past the surface and get a visceral feel for the potential of the market. India Knowledge Wharton: Does the success of a multinational in India depend on the sector in which it operates? In any country you have a spectrum of firms across B2C [business to consumers], B2B [business to business] and B2G [business to government]. The closer you are to B2C and B2B, the easier life is. There is less corruption, less harassment and less regulation.
The closer you are to B2G, like infrastructure, the more harrowing it is. The more a business depends on access to natural resources like land, minerals or spectrum, the tougher it is for an MNC to succeed in India. India Knowledge Wharton: Does the size, the age and the country of origin impact the success of a multinational in India in any way?
I have not seen any correlation of success with respect to age, but I think size does make a difference. Size is an advantage when it comes to making long-term investments and the ability to take risks. Country of origin also makes a difference. They also tend to take a longer-term view. Scandinavian firms place a very high level of trust in their local managers and therefore are more willing to do things differently.
Ravi Venkatesan: Winning in India Can Help Companies Win Globally
American firms are globally oriented, but many of them are very arrogant. They take a very export-oriented and a one-size-fits-all approach. Korean [firms, such as] Hyundai and Samsung, do extremely well because they are willing to make big preemptive investments to win in India. Japanese firms, with a few exceptions, do badly; they are ultra-cautious and lack trust. India Knowledge Wharton: Are joint ventures a good way for companies to enter India? Venkatesan : Yes.
If you want scale and want to get to the middle of the pyramid fast, then joint ventures are a good vehicle provided you find the right partner with similar values. If you get the right partner, then [that firm] brings in the brand [recognition], the distribution capabilities, and policy and regulatory influence.
All these are extremely important. Also, a strong partner allows the multinational to get the right balance between local and global. India Knowledge Wharton: In what way is operating in China different for multinationals than operating in India? Venkatesan: The biggest difference is the way one has to engage the government in China. China is a vastly bigger and more affluent market with a much bigger middle class. India Knowledge Wharton: With increasing globalization, how important is it to have a globally integrated workforce?
Venkatesan: Having the whole workforce globally integrated is neither possible nor practical. What you need is a very high degree of cultural diversity … at the senior level. What is important is to have a very strong talent flow around high potential leaders. Firms need to have India, China and other emerging markets as crucibles of leadership development and send the best and brightest of their top and middle-level people of any nationality to these countries. You also need to move people around to build capabilities.
So if you want to develop engineering capability, you must send your people to countries like Japan, Germany and the U.
But this is not easy to do. Companies need to have enlightened policies to make this happen. India Knowledge Wharton: Indian firms are now increasingly going global. In what way are their challenges different from companies based in other countries? What measures do they need to take to ensure a smooth passage? Venkatesan: Everything I said about multinationals operating in India applies to Indian firms going global.
Most Indian firms are not doing these things because they are in the first stage of globalization.
- Profil - Verlaine (Paul) : Fêtes galantes et autres recueils : Analyse littéraire de loeuvre (Profil dune Oeuvre t. 247) (French Edition)?
- Gorgon Times.
- Conquering the Chaos: Win in India, Win Everywhere.
- Conquering the Chaos.
- - Win in India, Win Everywhere.
- The Greatest Lake: Stories from Lake Superior’s North Shore.
I see it as a journey. They will go out, they will stub their toes and they will get burned. Then they will reflect and course correct. Some analysts have suggested that it is the success and growing size of these companies that is attracting the adverse attention. What are your views on this? Language English. Buying for your team?
Conquering the Chaos: Win in India, Win Everywhere | Management Next
Summaries and excerpts of the latest books, special offers, and more from Harvard Business Review Press. Sign up. Signed up. This Month's Special Offers. Unable to locate your subscription account? Pages can include limited notes and highlighting, and the copy can include previous owner inscriptions.
Dust jacket quality is not guaranteed. Shows some signs of wear, and may have some markings on the inside. Used - Very Good. Former Library book. Great condition for a used book! Minimal wear. Bookseller: BookVistas , India Seller rating:. He talks about the number of multinationals interested in entering the Indian market and the advantages that the market holds for them.
Summary Of The Book Business leaders all over the world are talking about India and its emerging market. But even then, the challenges that India poses cannot deter from the fact that it is indeed a populous market and a fast growing economy with enormous potential. He also interviewed a number of other executives, successful and not so successful, about their experiences in India.
I have to say I really like the cover, with its sunny colors. The book itself is a little dry and heavy on the business jargon; this is not a book for the layperson. Adjusting for that, the examples are interesting, both in the success stories and some of the failures. The book covers a wide variety of subjects related to doing business in India, from making the right choice for country manager, through building an organization structure that works in the culture, to dealing with the endemic corruption and volatility of an emerging nation.
A fair amount of what the author suggests for success is obvious in hindsight—but in that position I would have had to figure it out by trial and error.