Secret of the success by Indian companies
I am not sure whether I should be posting this one as it may be seen to be the obvious or generalizing my experience or being plainly cynical. If I sleepover on this, it won’t see the light, hence pressing the Publish now!
Businesses in India have followed simple rules for success:
- Focus on Marketing & Sales,
- Under-Deliver to customers and have non-responsive after-sales,
- Manage Employees, and
- Squeeze out vendors and delay payments to suppliers.
This modus operandi seems to have now jumped from domestic businesses to export-oriented businesses; from large enterprises to startups too. I am wondering whether this is the reason(s) for the prolonged slowdown in the economy?
As Industries and the economy becomes more automated / A.I. driven, customers will care less about the cost (most will become cheaper and have turned into a commodity, thanks to machines) but the differentiator will be the experience. As the below chart from the fine article titled “Welcome to the Experience Economy” by B. Joseph Pine II, James H. Gilmore in Harvard Business Review, shows “experiences” are a distinct economic offering, as different from services as services are from goods. And Indian companies will struggle to provide a ‘good’ experience if they don’t change their ways.
Thank God! I am not owning a business now.
I really really want to hear ethical, honest and responsive business stories in India. It seems the last ones where all 100 years old and then Infosys. It just stopped. Maybe, my (late) father set a bad example by running his business for 50+ years honestly and rightfully.
P.S.: Yes, the above was meant to be a sarcastic post. It is not about any particular company or an individual, but about the lacklustre & cavalier attitude of Indian businesses in general.