Business Vision Setting

Importance of Vision Setting

A businessman to a consultant: “I want my present branches streamlined properly...and my manufacturing unit too…and I want to expand my business to other districts...”

Consultant: “Well we can ...the fee will be Rs.2 lakhs per month.”

Businessman: “That's too much...I can't afford. Can you make it to 1.5 lakhs..?”

"Unless there is a vision for an entrepreneur, his business will end up nowhere. If you want more money invest more."

We can take an example of Vision achievement exercise of Honda Motorcycle and Scooter India Ltd. (HMSI)

Their vision: To become the No.1 two-wheeler company by 2020.

Major milestones achieved after unmerging from Hero-Honda (34 months):

·    23% growth since separation

·    HMSI now constitutes around 17%-18% of turnover of Honda Motor Corporation.

·    By 2015, target is set to be 5 million units of sales.

·    Overtaken TVS and Bajaj in sales

·    Became 2^nd largest two-wheeler company

·    9 zonal offices.

·    Hero has lost 2% of market share

·    Honda gained 3% of market share

·    Overtaken the sales of Hero's Passion by Honda's Dream Yuga in 2012.

The key for achieving the milestone: The pace of Transformation

Following are the factors which they thrived on:

1.  Research department relocated and linked  to Marketing and Sales department (main strategy)

2.  Kept on reworking strategies

3.  New model line up

4.  Spread their market to the interiors of the country.

5.  Widened the product range.

6.  Quick communication and decision making

7.  Responded to market needs and trends.

8.  Brand ambassador- Akshay Kumar (Bollywood actor)

9.  Focused on fuel efficient bikes like Dream Yuga and Neo to compete with Hero's Splendor and Passion.

- Jimish K. Joseph

  Asst. Manager - Consulting

  Bramma Learning Solutions
  Mob: 9746195297
  Phone: 0484 2705535

TOP 10 BUSINESS MOVIES

Top 10 Business Movies every entrepreneur should watch!
1. Office Space

This classic office comedy ought to be required viewing at all business schools. Nothing cures possessed copy machine-induced stress or a bad case of the Mondays faster than watching Peter spar with his dull and annoying bosses.

2. Wall Street

An iconic 80’s film about greed and morality. Michael Douglas is fantastic as Gordon Gekko, the apostle of the “greed is good” ideology. He may be on to something in terms of economic theory, though the SEC may not be so understanding, as the film depicts.

3. Working Girl

Harrison Ford and Sigourney Weaver are fantastic in this thoroughly enjoyable romantic comedy. Melanie Griffith teaches us a valuable lesson as Tess the precocious administrative assistant: Never take your secretary for granted.

4. The Shop Around the Corner

In this classic romantic comedy set in Budapest, Jimmy Stewart and the great Margaret Sullavan fall in love by mail, not realizing that they are co-workers in a gift shop. Re-made in 1998 by Nora Ephron as "You've Got Mail."

5. Gung Ho

This 1986 comedy stars Michael Keaton as a foreman at an American car factory that gets taken over by a Japanese manufacturer. Consider it a hilarious lesson on labor management and the importance of understanding different cultures.

6. The Hudsucker Proxy

The Coen brothers, Tim Robbins, and Paul Newman come together for a good old fashioned screwball comedy. It’s a funny flick that demonstrates the importance of looking for innovators in all levels of a company.

7. One, Two, Three

James Cagney plays the Coca-Cola Company's man in Berlin, and we get a delightful view of an American businessman coping in alien territory and trying, in this case, to prevent the daughter of his Atlanta boss from marrying a communist.

8. Other People’s Money

Danny DeVito shines as “Larry the Liquidator” in this smart, early 90’s drama. In this story we see a conflict as old as time itself: Love, or money? Which would you choose?

9. Boiler Room

Similar to Wall Street in theme, this 2000 drama uses the stock game to teach a valuable business lesson: Always be skeptical of deals that seem too good to be true. Giovanni Ribisi is great as a talented rookie broker.

10. Glengarry Glen Ross

Based on an excellent play by David Mamet, this Hollywood take features an all-star cast that includes, Ed Harris, Al Pacino, Alec Baldwin, Kevin Spacey, Jack Lemmon, and Jonathan Pryce. Required viewing for people looking to get into the real estate game.

Mantras for Business Success

6  MANTRAS for SUCCESS in BUSINESS

1. Get your head in the game: As the leader of your company, you need to portray a winning state of mind and radiate positive energy. This is relatively easy to preach, but in live interactions, meetings and events, there’s no substitute for having your game face on. A good attitude is transmittable and inspires others. If you need to fake it until you make it, so be it. 

2. Narrow your objectives: Most of the entrepreneurs are constantly distracted by the newest shiny things. By nature, entrepreneurs seem to be idea people, so you’re good at identifying opportunities and finding ways to take advantage of them. That means it’s equally important to figure out which opportunities are irrelevant, and to ignore them completely. Pick up every shiny thing and you've got a collector’s nest, not a successful company. 

3. Steady your reactions: Steady as it goes. This is always of the most priority for essential entrepreneurial qualities. Passion, fire, and drive are at the core of many entrepreneurs. We all need those things. But it can be easy to let these attributes excessively influence your reactions to day-to-day events. Abrupt reactions and decisions that aren't well thought-out don’t do you or your company any good. To prevent them, try to plan proactively and keep the big picture in mind. 

4. Know and stick to your moral compass: It's easy to get influenced by great opportunities or quick fixes. Set yourself and your company up for success by knowing your boundaries. What are you willing to do to achieve your objectives, and where do you draw the line? This is one area where going outside of your comfort zone will do nothing but get you in hot water. 

5. Perception is King: Your reputation is here to stay. Protect your personal reputation and brand, as well as that of your company, by building an image that's meant to last.  

6. Get your fight on:  The best athlete doesn't always win. The one with the most fight and determination always wins out. Someone else may be bigger, faster, or temporarily ahead of the pack, but you will come out on top if you fight smart and stick it out. 

Need some more inspiration? Dream big. Be disruptive. Color outside the lines. Decide what these phrases mean to you, or create some of your own mantras that will keep your compass pointing north.

10 business models that rocked

10 business models that rocked - by @nickdemey (boardofinnovation.com) from Board of Innovation .com