THE INDIAN television entertainment industry was $5.1 billion in 2007.THE INDIAN MUSIC entertainment industry, including radio, was $300 million in 2007. It’s been growing at 10 per cent year on year.
PEOPLE SPENT $5.3 People spent $5.3 billion eating out last year. The organised eating out sector accounts for $400 million, or roughly 8 per cent, of the total industry.
THE GAMING MARKET in India is $300 million, growing at 50 per cent year on year.
NUGGETS Selections from management journals
SUSTAINING INNOVATION, many agree, is crucial for a company’s long-term success. But truly innovative people are rare: They have excellent analytic skills, never rest on their laurels, and can identify the solutions likeliest to win over top leadership. They are socially savvy and can bring a diverse group of constituents into alignment. They tend to be both charming and persuasive.
The right talent-management procedures can help in spotting potential innovators. Reuters, for example, interviews candidates one-on-one and gives them complex, real-world scenarios in which they must reach and defend decisions, accommodate new information, and convincingly sell their point of view. Starwood and McDonald’s require would-be innovators to lead cross-functional teams in developing promising ideas and then to present those ideas to senior management. One global industrial products company in the UK insists that they do a stint in the sales department.
Developing breakthrough innovators requires mentoring and peer networks. Mentors provide insight into the motivations, goals, mind-set, and budget constraints of managers in a variety of relevant functions. Companies that excel in developing innovative leaders often remove them from revenue-generating line positions and plant them in the middle of the organisation, where they form “innovation hubs,” with easy access to influentials, more autonomy, and broader job responsibilities.
Finding and grooming breakthrough innovators
By Jeffrey Cohn, Jon Katzenbach and Gus Vlak
Harvard Business Review, December 2008
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FOR OVER A CENTURY, start-ups began by focusing on their home markets. More and more, however, are now being born global — chasing opportunities created by distance, learning to manage faraway operations, and hunting for the planet’s best manufacturing locations, brightest talent, most willing investors, and most profitable customers wherever they may be — from day one.
That’s not easy. In his research, Harvard professor Isenberg has found that global start-ups face three challenges. First are the logistical problems and psychic barriers created by distance and by differences in culture, language, education systems, religion, and economic development levels. Even something so basic as accommodating the world’s various workweek schedules can put a strain on a small start-up’s staff. Second is managing the challenges (and opportunities) of context — that is, the different nations’ political, regulatory, judicial, tax, and labor environments. Third, like all new ventures, global start-ups must find a way to compete with bigger incumbents while using far fewer resources.
To succeed, Isenberg has found, global entrepreneurs must cultivate four competencies: They must clearly articulate their reasons for going global, learn to build alliances with more powerful partners, excel at international supply chain management, and create a multinational culture within their organisation.
Entrepreneurs shouldn’t fear the fact that the world isn’t flat. Being global may not be a pursuit for the fainthearted, but even start-ups can thrive by using distance to gain competitive advantage.
The global entrepreneur
By Daniel J Isenberg
Harvard Business Review, December 2008
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AFTER A TREK IN the Himalayas brought him face-to-face with extreme poverty and illiteracy, John Wood left his position as a director of business development at Microsoft to found Room to Read, an award-winning international education organisation. Under his leadership, more than 1.7 million children in the developing world now have access to enhanced educational opportunities. Room to Read to date has opened 725 schools and 7,000 bilingual libraries, and funded more than 7,000 scholarships for girls. Wood talked with Knowledge@ Wharton about the launch of Room to Read, the book he wrote called Leaving Microsoft to Change the World and his personal definition of success.
Room to Read’s John Wood: Bringing the power of education to children around the world
Knowledge@Wharton , December 24 - January 06
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