TiE Entrepreneurial Summit
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A management consultancy firm advising American companies how to increase revenues and reduce costs by leveraging the economies of China and India.
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Panel Discussion on Being Global chaired by S.D.Shibulal:
Shibulal set the tone for the discussion by highlighting the important role played by innovation Research & Development and infrastructure to becoming globally competitive. He spoke about the essential tasks ahead in our quest to becoming global. The first is a ‘game-change’ strategy meaning to evolve business strategies specific for different geographies in the world.
The other important task is to convert local liabilities into advantages using innovation.
Pramod Chaudhari Praj Industries: Pramod said that access credibility and visibility in the market are essential for a new product in the world market. The essential resources are access to capital quality manpower management talent and raw material. Companies that strive to deliver products and install them at customers overseas need to be prepared with all the details about design execution and installation. To scale up the business excellent marketing positioning risk management and knowledge are required.
Pradeep Udhas KPMG: Pradeep advised entrepreneurs who plan to go global to study macro economics social and business trends. They will need to build their credibility through quality while service global clients. Organizations need to stay on the progress path by innovation and restructuring if required. Key partnerships with global organizations can be an important step.
Pradeep mentioned the drivers that had led to globalization:
Innovation in business models depending upon the geographical location.
Easy exchange of knowledge and ideas.
Mobile capital available in the market.
Availability of talent and their retention.
Pradeep highlighted the stories of Indian companies that had gone global the Indian MNCs. He discussed the strategies of Bajaj Auto Wockhardt HDFC Bank Asian Paints and Infosys which are Indian companies with definite global plans.
Pradeep gave the audience a good closing quote “If your competitors are global if your customers are global then you are a global company.”
Gunjan Bagla Amritt Ventures
Gunjan expressed the importance of marketing and said that marketing means to understand the minds of the customer and meeting their needs. This can help to build brand loyalty among consumers for your product.
