Chennai, Sept. 24 Dismantling geographical barriers and commoditisation are the two key facets of a globalised market. In a fast shrinking world, where barriers between markets, companies, nations and cultures are being brought down, one must think in a global perspective, said Mr Shankaran Nair, President-Corporate Strategy, Servion Global Solutions.
Citing what happened to India’s leading automobile and carbonated soft drink brands before and after the opening up of the country’s economy as examples, he said there is no protection for any product or brand from the geographical perspective.
“The world is your competition now. Your neighbour is no longer your competition; it could be from any corner of the world,” he said.
Mr Nair delivered the valedictory address at the two-day international conference on ‘Global Business Strategy in Competitive Environment’, organised by the Sai Ram Institute of Management Studies here.
In a market place where rapid commoditisation of products and services exasperates even the most skilled professionals, service providers and manufacturers, one can survive only if he differentiates his products and services from those of other players, and delivers value.
Illustrating the point, Mr Nair pointed out how car manufacturers and mobile service providers struggle to differentiate their products and services in a particular category and price band where all models sport almost the same features.
He also accentuated the need for individuals to be honest and quality conscious.
“Quality and honesty are not something that are imposed on us from outside, but something that we bring to whatever we do, from inside”.
Earlier, Mr A. Subramanian, Executive Director, Indian Bank, in his special address to the delegation, said that to be globally successful, one has to be local.
“Whichever country you are operating in, unless you study and understand the local population and its requirements, and turn out products that suit them, you may not be able to make any impact there”, he said.
Able management of human resources, perception of risk, good risk management and perseverance are some of the key elements that are required to be globally successful, he emphasised.
Dr S. Seetharaman, Dean-Academic & Administration, and Dr K. Maran, Convener and HoD, Sai Ram Institute of Management Studies, also spoke on the occasion. |
