Corporate Chanakya on Leadership by Radhakrishnan Pillai

Author:Radhakrishnan Pillai
Language: eng
Format: epub
ISBN: 978-81-8495-307-7
Publisher: Jaico Publishing House

Competition

33

Handling Competition

THE DAYS OF MONOPOLY are over. Competition is 'in'. No longer can Public Sector Units (PSU) relax, nor can traders and middle-men think that their huge profit margins will continue for long. With the world becoming a global village and technology reaching the remotest corners of each country, competition has opened up like never before.

Therefore, as new projects are started, bigger brands are launched and new markets are explored, a strategy to meet the challenges from the existing players, or future competitors, is needed. Hence, a carefully researched, planned, and calculated move is necessary in every field today. Kautilya helps us plan a strategy to handle competition.

"After ascertaining the relative strength or weakness of powers, place, time, revolts in rear, losses, expenses, gains and troubles, of himself and of the enemy, the conqueror should march ahead." (9.1.1)

Let us look at each of the aspects of the strategy, which must be evaluated before making our move in the market. Both, from one's own view point, as also from that of the competitors.

• Power

Power comes in various forms — knowledge, money, and also enthusiasm. Some of the most successful projects are the ones that are deeply studied and well-researched. Remember, the foundations are important for the structure to last.

• Place

The right place is very important. The place should be conducive for the product to sell. The right market should be found even for carrying out the experimental process. One cannot launch an agriculture based product in an urban shopping mall. The right place for it is in the rural segment.

• Time

Every product has a season — just hit it at the right time! The cold drink companies will have their marketing strategy built around the summer season. While the paint industry will advertise just before the festival season.

• Revolts in the Rear

Unknown to us there are possibilities of being stabbed in the back! Our distributors, retailers in the market as well as our very own staff can be targeted by our competitors to capture our market share.

• Loss

One should be aware of the losses that can happen in the process — not just financial, but also loss in time, material, and efforts.

• Expenses

A budget should be worked out before the whole project is started. In most cases, the budgets shoot up as the process commences. A buffer for extra and miscellaneous expenses should be considered.

• Gains (Profits)

How much is one finally going to get at the end of the whole exercise? A few projects could be one-time projects with immediate gains, while others could reap their fruits in the long-term.

• Troubles

A lot of troubles will crop up. The best way to avoid or reduce troubles is to be aware of the maximum possible problems that can arise and have a backup plan to solve them all.

Only after taking all these into account, should one march ahead to conquer the market.

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