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Notes on tech

Notes on technology, business, enterpreneurship, economy, markets along with interesting general tidbits.

C.K.Prahalad's talk on changing the rules of the game

2/07/2006 11:49:00 PM, posted by anand

Staying in Ahmedabad has one advantage of being able to attend management and leadership related talks that are frequently held by Ahmedabad Management Association.

Yesterday evening, I attended Dr. C. K. Prahalad's lecture on "Changing the Rules of the Game: India's Role in Global Industries". I have read Dr. Prahalad's "The fortune of the bottom of the pyramid" book and was highly impressed by his writing. It was sort of an eye opener for me.

In his lecture, he talked about the changes that have happened in the Indian landscape during the past 10 years, 1995-2005.
  • Changing Indian consumer
  • Indian companies have a Global reach
  • Size of the projects and the size of the Indian companies has grown significantly
  • Quality has tremendously improved. More and more companies are getting certified for their quality, be it FDA certification, TQM or CMM 5 levels
  • Increased M&A capabilities
  • Creation of global brands
He also said that the Indian consumer is moving away from frugality. Arrival of the "Now generation" - people want their cars, houses, washing machines, flat panel televisions now. Unlike the previous generations, the youngsters these days dont like to pinch pennies. They want to live in the moment. They want to focus on themselves and get brands/goods that they identify themselves with. Consumers are willing to pay for quality. How else would you explain people paying about Rs. 5000 for a pair of Nike shoes.

Young people are aspirational. They are decisive and well-informed.

One way to change the rules of the game is thru innovation. He said that companies like Amul have changed the rules of the game connecting the rural dairy farmers with the urban India and rest of the globe. He said that comparision between the rural and urban, domestic and global should end. Any innovative product/company should consider both rural AND urban, domestic AND global.

ps: btw, I also got him to sign my copy of the "The fortune at the bottom of the pyramid".
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2/14/2006 11:11 AM, comment by Blogger Manish

One lucky dawg! I have strongly believed that if you follow anything with all your heart, everything in the universe conspires to reach out and help you achieve. Could you have ever dreamnt this moment the time you read this book. But as I know, you always so much believed in this book. Isnt belief the key? And the beauty is, that you cant create it. You can just feel it when it is there. What is upto you, is to nurture it and trust it or let it wane and die.    

2/15/2006 5:03 AM, comment by Blogger Anand

Even as butterflies were doing the rounds in my stomach, I somehow muttered that I was highly influenced by his book and it was responsible to an extent on my decision to move back. He smiled. I am not sure, whether he believed me or not :)    

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