Management lessons to learn from the Bihar Verdict
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1) First and foremost never overstretch a brand. This is the core of branding. Modi brand be it good. But even that has limitation. Lux cannot be Lifebuoy
2) Making just noise does not help any more. People want to see content. Excess advertising only helps a bad product sink faster.
3) Always develop leaders. Hire people better than yourself. Modi, hire someone better than yourself.
4) Focus on 'self' rather than competition. A brand should communicate what it stands for and not on what the opposition / competitor is doing wrong. The customer is not a moron. Modi's campaign has been about the incompetence of the 'other'. Delhi and Bihar have replied loud and clear with their verdict. Have you seen Apple ever comparing itself to anything but itself.
5) Stick to one's positioning through thick and thin. Don't change 'what you stand for based on the situation'. Tactical moved don't pay. Strategic positioning works better and earns loyalty. If you are against 'communalism' say it clearly. Keeping things ambiguous will always hurt.
6) Be willing to yield and have the heart to 'give'. Show respect to 'allies' and colleagues. Don't consider others vulnerable and yourself invincible. Make others also win.
7) Build discipline and 'culture' in the team. Allowing loose canons to fester is like having bombs in your own backyard. If there is an accident, you are going to score a 'self goal'. One may think it is a smart tactical move to allow these fringe elements to take centre stage but a visionary knows, it won't work .
8) Last but not the least. Don't be arrogant about success. Past performance may or may not repeat itself. 'Overconfidence' kills a brand because the world keeps changing and our situation keeps getting irrelevant. Look at how Nokia and Kodak both super brands lost it when they took a nap. more
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1) First and foremost never overstretch a brand. This is the core of branding. Modi brand be it good. But even that has limitation. Lux cannot be Lifebuoy
2) Making just noise does not help any more. People want to see content. Excess advertising only helps a bad product sink faster.
3) Always develop leaders. Hire people better than yourself. Modi, hire someone better than yourself.
4) Focus on 'self' rather than competition. A brand should communicate what it stands for and not on what the opposition / competitor is doing wrong. The customer is not a moron. Modi's campaign has been about the incompetence of the 'other'. Delhi and Bihar have replied loud and clear with their verdict. Have you seen Apple ever comparing itself to anything but itself.
5) Stick to one's positioning through thick and thin. Don't change 'what you stand for based on the situation'. Tactical moved don't pay. Strategic positioning works better and earns loyalty. If you are against 'communalism' say it clearly. Keeping things ambiguous will always hurt.
6) Be willing to yield and have the heart to 'give'. Show respect to 'allies' and colleagues. Don't consider others vulnerable and yourself invincible. Make others also win.
7) Build discipline and 'culture' in the team. Allowing loose canons to fester is like having bombs in your own backyard. If there is an accident, you are going to score a 'self goal'. One may think it is a smart tactical move to allow these fringe elements to take centre stage but a visionary knows, it won't work .
8) Last but not the least. Don't be arrogant about success. Past performance may or may not repeat itself. 'Overconfidence' kills a brand because the world keeps changing and our situation keeps getting irrelevant. Look at how Nokia and Kodak both super brands lost it when they took a nap. more
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Dear Shri Vivek Kumar Ji. You have yet not opened the type of business you are driving people in. Perhaps the same which I wrote earlier. Yes, they are legal and teach a lot to people as I have been in them for some time. But what are the chances of enduring success? May be less than 0.001% for the business indicated by me earlier. True, most of us do not want to come out of our comfort zone and yet want to change our life and our waste time here and there. However before picking up such people, please judge their skills in terms of communication, personality, contacts, patience, sales aptitude, perseverance etc. for enduring successful business, if I have understood correctly. more
Nov 22
Dear Prof. Umesh ji, something that gives you 'Time & Money Freedom', good health and increasing income as you grow old; even after retirement must be seen once. You teach Engg, Accounts, Management, whatever- Do you teach how to get rich? No. In professional Institutes we teach how to get a job & a job is never ours; a job is always compromising and temporary in nature. Any traditional business needs lakhs of rupees. So an employed person FEARS to do business. It also involves RISK. Hence request you to leave the paradigms set in the society. YES, the business should be legal. In our business only 2 things are required- 1. Ready to learn. 2. Ready to come out from the comfort zone just for 2/3 hours that we waste seeing TV, movies & gossiping. Education is good for knowledge but one has to think 'out of the box' to get RICH!! People don't want to venture but they want to change their lives sitting in the comfort of their homes IT IS NEXT TO IMPOSSIBLE. Time is changing. Jobs are highly unreliable. Pensions have stopped. Old age is full of hardships. Plan now... Thank God that we saw some good days. What our young generation is going to see is very fearsome... more
Nov 21
Hope it is not a call for MLM, Insurance, Equity trading, real estate & resort selling business. more
Nov 19
