Offensive strategies to help SMEs
SME need to develop offensive development strategies in a competitive market and acquire defensive strategies to protect their interests.
By TNN |
MUMBAI: Small and medium enterprises (SME) need to develop offensive development strategies in a competitive market and acquire defensive strategies to protect their interests, said leading industry experts at a discussion in Mumbai on Saturday. The Small and Medium Business Leadership Programme, an eight-week course for SMEs, was held to discuss the critical issues needed for the sustained growth of the sector.
Wyeth MD Ranga Iyer and Development Credit Bank MD Gautam Vir spoke about focus and long-term vision. They indicated that to succeed one has to take the unexplored path, an offensive development strategy. Citing the experience of Wyeth, Mr Iyer said: ���Initially, Wyeth had not grown for almost seven years, but that was part of our strategy ��� to remove old products and concentrate on niche ones.���
Soaring oil prices will have an impact on SMEs and could result in heavy job cuts. Responding to a participant���s comment that the gap between the salaries of an MD and other employees leaves the latter dejected with a feeling of disowning the company, Mr Vir said: ���Communication is the best way to instil a feeling of ownership among employees.���
For SMEs, a workable marketing strategy is vital. Gurdip Anand, a faculty at the Centre for Organisation Development said: ���These days SMEs have to be aggressive in their marketing strategy and apply pre-emptive strikes. At the same time, they should be careful not to go for a big player without having a clear action plan.���
���It is a good thing to invest in large companies, but not the ones that are at high risk and might swallow you as well. Before being a part of a company, learn its weaknesses and try to provide support from there,��� he added.
Mahindra Insurance Brokers director Jaideep Devare, one of the organisers, said the programme was meant to address certain concerns of those SMEs which didn���t have access to such programmes. The idea was conceived after the Youth Bombay Forum members met a few IIM-Bangalore graduates.
The first phase of the programme concentrated on leadership and offensive as well as defensive strategies, while the second and third phase will work on the social and professional development concerns.
Wyeth MD Ranga Iyer and Development Credit Bank MD Gautam Vir spoke about focus and long-term vision. They indicated that to succeed one has to take the unexplored path, an offensive development strategy. Citing the experience of Wyeth, Mr Iyer said: ���Initially, Wyeth had not grown for almost seven years, but that was part of our strategy ��� to remove old products and concentrate on niche ones.���
Soaring oil prices will have an impact on SMEs and could result in heavy job cuts. Responding to a participant���s comment that the gap between the salaries of an MD and other employees leaves the latter dejected with a feeling of disowning the company, Mr Vir said: ���Communication is the best way to instil a feeling of ownership among employees.���
For SMEs, a workable marketing strategy is vital. Gurdip Anand, a faculty at the Centre for Organisation Development said: ���These days SMEs have to be aggressive in their marketing strategy and apply pre-emptive strikes. At the same time, they should be careful not to go for a big player without having a clear action plan.���
���It is a good thing to invest in large companies, but not the ones that are at high risk and might swallow you as well. Before being a part of a company, learn its weaknesses and try to provide support from there,��� he added.
Mahindra Insurance Brokers director Jaideep Devare, one of the organisers, said the programme was meant to address certain concerns of those SMEs which didn���t have access to such programmes. The idea was conceived after the Youth Bombay Forum members met a few IIM-Bangalore graduates.
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The first phase of the programme concentrated on leadership and offensive as well as defensive strategies, while the second and third phase will work on the social and professional development concerns.
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