Ideas, Creativity, Innovation

LinkLog: If You Can Win in India

From Win in India; Win against the Competition Everywhere

About 4,000 multi-national organizations have operations in India, but only between 30 and 40 do significant business there. The rest equal 1%.

The companies that are the best at globalization are the Korean ones. Korean firms send employees to new countries for ten years. They go native and understand the markets better. Apple vs. Samsung is typical. Apple’s response could be summed up as, “We’ll come back when they look like us.” But Samsung did not wait and now dominates the Indian market.

The Swedes are also good at globalization because their home market is so small. Consumer companies adapt well, but technology firms are arrogant.

GE created global growth organization using India as an example. GE had two years of down revenue between 2000 and 2010.

India forces companies to think outside their comfort zone; to create products and organizational structures that are truly innovative, cost-effective, and attractive to Indian consumers.

There are lots of stories of Indian style innovation aka Jugaad. I recall Vijay Anand telling me when he was giving me a tour of RTBI (IIT Madras Rural Technology Incubator), that if you can build some thing that can be successful in India, you have more than 60% of the world market.