Five effective strategies
to help evolve your business
Business insights from Harsh
Mariwala, CMD, Marico Ltd, the man behind some popular homegrown FMCG brands
During his 40-year (and
counting) career, Harsh C Mariwala transformed a traditional commodity driven
business into a leading consumer products company Marico.
He has also established the
Marico Innovation Foundation to fuel innovation in India and a mentoring
organisation (ASCENT) to help budding entrepreneurs learn from one another
through idea exchange, experience and insight.
Mariwala shares five
essential practices to support leaders looking to grow their business by
changing their strategy but not their vision:
1 Navigating the vagaries of family business
Ensure the stakeholders,
especially the owners of your company, are aligned with the business growth
plan and how it should be managed during the journey.
2 Attracting high quality talent
If you have limited
resources and big aspirations, you are forced to think differently and that's
when innovation happens. Creating an impactful and innovative ad campaign will
make you stand out and attract talent.
3 Turning values into culture
Share your values with your
teams and ask them to share ideas. If managers own their values, it will
eventually create a culture in the organisation. A strong culture is impossible
to copy.
4 Don't take `no' for an answer
If someone says your idea
cannot work, test it again. Innovation is not simply creativity; it is a lot of
execution.
5 Copycats
When your idea works,
copycats will come along and try to acquire the market share. Instead of becoming
redundant, collaborate and innovate again .
|
businessinsider in
|
ETP10DEC15
No comments:
Post a Comment