Personal or Professional, Its all about Style and Substance…
Have become an avid anlayser of History of Businesses, as part of my recent Professional Engagement of evaluating Companies. Its intriguing to see different styles of the Business Managers, probably defined by their personalities and personal experiences. I repeat, irrespective of Size and Stature, its clear that a Leader’s Decision (Entrepreneur or Professional) is completely dependent on his experience. Once bitten, twice shy types mostly. This is probably from where Resistance to Change also emulates.
In Business & in Real Life, there are two approaches – Outside-In and Inside-Out..
Typical Entrepreneurs, Professionals and Leaders believe in Outside-In as the best approach – laying emphasis on SPELT (Social Political Economic Legal & Technological Environment, summed up in SWOT Analysis) based decisions. Which is quite logical …which also follows Porters Principles of Five Forces.
However in my view, true Innovators and Disruptors believe in Inside-Out approach. It typically envisions a scenario which believes the Market and Society (which is essentially the Market) at large may not know what they want. This in Management Jargon is referred to as Concept Selling & Creativity. I always vouch for this approach.
While the first approach is believed to understand and mitigate risks, in the second approach, risk is the essence and hence returns are disproportionately high as a reward for the high stakes. Ofcourse, failures will always be there…it takes confidence and courage to take the second approach. World over, its a proven fact that, successes even if it is around 10% (meaning as high as 90% failures), will more than Compensate and Contribute to Growth & Profitability. This approach is what brings Leap Frog Growth rather than market dependent incremental growth as in the first approach.
For the first approach, Competitiveness, Consistency and Efficiencies should be at their best to sustain success. Whereas, by nature, the second approach inbuilds inefficiency and thrives only on newness and market attractiveness – mostly due to the First Mover advantage.
In my assessment, for first one, good examples shall be Lee Iacocca… for the second i would rate Akio Marita, Steve Jobs and more recently, Elon Musk. Google, Microsoft, Intel, N-Vidia – off late i believe have lost out on their abilities to be creative – may be due market pressures and share holder expectations, these always being the limiting factors
especially when businesses are investor driven, which in the recent years are too many.
In Indian context, i place L&T, Jindals, Tatas in first category. Though many may not agree, I place Mukesh Ambani, Damanias and Adanis in the second category.
Drawing parallel to our personal lives, many try to evaluate others (Outside – In approach) , rather than trusting themselves (Inside – Out approach). In the process we become judgmental, either consciously or otherwise. Though colloquial, easiest examples could Indian Arranged Marriages as an example for the First Approach and Love Marriages for the second approach.
Irrespective of the approaches, which mostly is associated with Personality, ability to recognise that going is not right and take course correction at that instant is what ensures sustainable success. Then its all about timing – a withdrawal or an exit strategy.
About the Author :
Dr. NITHYANANDAN DEVARAAJ (NITHIN) BE., MBA., Ph.D
President – Coimbatore Management Association
Past National Secretary – The Institute of Indian Foundrymen.
Chairman – Shri Avinashiappar Trust
Past Managing Director & CEO – Flow Link Systems (P) Ltd ( a Voith Group Company)
Dr. Nithin has about 35 + Years of Experience in Engineering Manufacturing organizations. He has worked for LMW Group, L&T, Hitachi & CRI Group. He is considered to be a Professional with a rare blend of Intrapreneurial Orientation, having been a Business Head across Engineering Manufacturing Organisations / Industries.
Dr. Nithin is a Member in Governing Council / Board Of Studies of Universities and Management Institutions as a Management Expert.
Dr. Nithin is part of various industrial associations and professional bodies; he is credited with playing a leading role in bringing land mark changes in Export Incentives, Classification of MSMEs, CPCB Norms, Waste & Disposal Management. He also plays a pivotal role in training and development of educated Youth seeking employment opportunities.
Dr. Nithin Leads a team that turned around a division and a Company, and in establishing large scale projects as bench marks in industry (This Business has won several awards at National & Regional Level which includes – Indian Foundry of the Year, Young Foundryman and Foundryman Awards, 4Star Award from CII, Green Award & Safety Award from Tamil Nadu Government & at National Level from IIF, First Indian Foundry in the segment to get OHSAS 18001 & ISO 50001 Certification and Many Kaizen awards.)
Dr. Nithin is a Managing Trustee of a Family Managed Trust involved in activities like rendering Food, Shelter, Education and Medicare. Noted for rendering services during Chennai, Kerala, Tanjore & Nilgiris Floods.
Dr. Nithin’s Academics:
- Ph.D in Management Sciences
- MBA in Finance & Marketing – Gold Medalist and University Topper
- BE Mechanical Engineer with Distinction
- An IRCA certified lead auditor and assessor for ISO 9001.
- A qualified auditor for EMS, OHSAS & EnMS
- L&T Future Leaders Training at IIM – C
Dr. Nithin’s Professional Associations:
- Member & Industry Nominee, Coimbatore Disaster Management Council
- A Guest Faculty to Premier Management Institutes & Was Visiting Faculty to IIM – Calicut
- An examiner for Management Qualifications & Assessor for Management Teachers
- An acknowledged management trainer and consultant
- Is a regular Business Column Writer.
Dr. Nithin is a Member of:
- Foundry Development Council, Ministry of Commerce & Industries, India.
- Institution of Engineers, All India and Coimbatore Management Association
- Board of Studies in Universities & Premier Management Institutes
Dr. Nithin is Winner of:
- The Outstanding Alumni & Distinguished Alumni Awards from PSG Institutions & Bharathiar University.
- The CMA Golden Jubilee Year Best Manager award for the region.
- The Best Management Student award and many accolades at National Level.
- The Mother Teresa Award of Excellence for Young Business Managers.
Dr. Nithin’s Management Interests:
- Management of Innovation, Corporate Strategic Planning and Manufacturing Management, Green Supply Chain
Dr. Nithin can be contacted at :
Mobile : +9194879 46900
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Also read Dr. NITHYANANDAN DEVARAAJ’s earlier articles:
