Complacency kills.

July 31, 2006

I happened to read a very nice article in TOI, a few days back. Here is a brief summary of it.

The article explained with illustrations the impact of complacency in Indian companies, on the economy of India. It clearly elicited the subtleties of the impact of globalization on the Indian economy. The sectors of Indian economy, which have been hit hard by its impact, are textiles, automobiles, airways and many more. It so pathetic of these Indian companies, who play this ‘blame game’ of nagging the govt. of India for allowing foreign companies to foray in to the Indian market. They instead need to keep themselves updated.Its time for the Indian companies to stop resting on their laurels.

Off late, the Indian companies are feeling the ‘heat’ as well. They slowly, but steadily seem to be engrossed in re-working their strategies, to ensure their stay in the market. While only a few companies have managed to keep pace with the foreign companies, as they were wide awake to respond to the ‘call’ of globalization. Others, who still haven’t awakened to reality, are already paying the ‘price’ and will soon ‘burn out’. In this whole ‘deluge’ of globalization, complacency kills…and those who fall prey of it, are sure to be wiped out from the global business maps, eternally.

It is high time that the Indian companies realize that the globalization is an irrepressible change and the only way to ensure you are in the ‘rat-race’ is to adapt yourself to the ever changing world of business. Over the years, the Indian economy has undergone a sea change. Ever since we opened the gates of Indian economy to LPG (liberalization, globalization and privatization), the whole scenario of the Indian market has changed and has morphed itself from time to time.

Gone are those days when there use to be the monopoly of a company in a certain sector of the market. Today there is cut-throat competition in almost every walk of life and that doesn’t spare the world of economy either. Today every company in the Indian market not only faces competitors within India, but also from abroad. One just needs to understand that, being uninformed or ignorant, in today’s world of business will only land him/her in an unforeseen trouble and you just can’t hark back.

The article also quoted, sachin’s statement, which says, “I always try to keep myself excited and focussed after every game, so that I can perform to my best in each match I play”. It shows how excitement and focus on your goals are key factors to excel in any field. Another example, Andrew S Grove, CEO, Intel Corp, also the author of a brilliant book, “Only the paranoid survive”, talks about the need to change as per the new rules of the ‘corporate game’. He clearly illustrates how one needs to be always on his toes, when it comes to knowing about, what your competitors are doing, and changing your ‘game plan’ as per your competitor’s strategy. A whole new approach of out-smarting your rivals.

The article also talked about a few commandments in the business, I list the Key points:

· Keep focussed on your goals.

· Keep your knowledge curve always on the rise.

· Always keep informed about where others are in the business.

· Don’t underestimate any of your competitors.

· Keep yourself updated with the latest changes in the market.

· Review your work and strategies from time to time, to ensure, you meet your deadlines.

· Time is money, so make an efficient use of it.

· Customer satisfaction, is your ultimate goal, never ignore it.

· Never let the excitement in your work to die out.

· Be open to changes, which will help you survive and sail through hard-ships.

At the end I feel the whole complacency concept can be extended to other walks of life aswell, since every walk of life, you are confronted with a cut-throat competition. So one needs to be wide ‘awake’, to ensure he/she doesn’t fall out of this ‘rat-race’. That only means, any room for complacency would ensure a stunted growth of your career graph or in fact a total debacle of your (business) career.

PS: I feel that being paranoic, at times can help us come out with ‘winning strategies’.

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