Indian Business Must Change
Joseph Schumpeter in his theory has noted that "Innovation in Business can create growth, employment and exports". What happened to Indian Business, now? The last two decades is considered to be performance management period. Now, Indian Business must re-invent or take the road downhill and live in paupers.
Indian Business Market will be classified in three segments:- Business People who're living in cities with a population of over 100 million are called Developed India; Developing People, who're living in 6000 smaller towns and are numbered near to 300 million; and, the 700 million people who're living in 600,000 villages, named undeveloped India. The 1 Billion population who're considered to be Developing and Undeveloped are considered to be non-consumers in Business community. The reason being, they can't afford to buy the new inventions now due to over-pricing. Now Business Community in India must work for an affordable prices with new inventions and make affordable all the goods to them. That's the opportunity, never to be missed by a Business person.
Non-Consumers in Health care are 90%, which means lot of opportunity for the Medical Business. Though India controlled all the epidemics and infectous diseases, but the medical benefits still need to reach the downtrodden. Business People must come out with break-through strategy. Still a milestone had been put forward by L.V.Prasad Eye Institute who've done some strategies to reach the non-consumers. Open heart surgeries are cheaper in India costing just US$2000 whereas it's costing US$150,000 in USA.
Indian Business History just finished just 20 years after globalization whereas USA has completed almost 200 years. Create Innovation and efficiency as the new Vocab's of New Business strategies. If we do Innovation, then it's considered to be a break-through or we will succumb to the competition of other countries. If we do, our Business community can earn more than US companies would have earned in the entire 200 years. Create Idea, which can change the Business world???
Indian Business Market will be classified in three segments:- Business People who're living in cities with a population of over 100 million are called Developed India; Developing People, who're living in 6000 smaller towns and are numbered near to 300 million; and, the 700 million people who're living in 600,000 villages, named undeveloped India. The 1 Billion population who're considered to be Developing and Undeveloped are considered to be non-consumers in Business community. The reason being, they can't afford to buy the new inventions now due to over-pricing. Now Business Community in India must work for an affordable prices with new inventions and make affordable all the goods to them. That's the opportunity, never to be missed by a Business person.
Non-Consumers in Health care are 90%, which means lot of opportunity for the Medical Business. Though India controlled all the epidemics and infectous diseases, but the medical benefits still need to reach the downtrodden. Business People must come out with break-through strategy. Still a milestone had been put forward by L.V.Prasad Eye Institute who've done some strategies to reach the non-consumers. Open heart surgeries are cheaper in India costing just US$2000 whereas it's costing US$150,000 in USA.
Indian Business History just finished just 20 years after globalization whereas USA has completed almost 200 years. Create Innovation and efficiency as the new Vocab's of New Business strategies. If we do Innovation, then it's considered to be a break-through or we will succumb to the competition of other countries. If we do, our Business community can earn more than US companies would have earned in the entire 200 years. Create Idea, which can change the Business world???
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