THE NEW RULES OF BUSINESS
Featured
THE NEW RULES OF BUSINESS
Reviewed by Mr. Sushil Bahl, Life Member
Non-Fiction
Publisher: Penguin Random House
Price: INR 299.
New rules in business mean new challenges and new risks in respect of: time, people, technology, markets, and places! Things have changed dramatically. Today, the market place is highly competitive and volatile! Disruption as known in today’s context of businesses! To succeed requires a set of “new rules.” For instance, treating customers well is no longer enough. Employees to have to be treated as well as if not better than customers. Happy employees make customers happy and loyal to you!
The author in his book dwells on a number of new rules that prevail today, and need to be followed, with interesting and positive stories from the marketplace and from his own professional experience in some of the key business areas of Leadership, CRM, Employee Management, Branding and Communication, Supply Chain, as well as overall Business Strategies.
He recommends a “disruption of yourself and your work” at regular intervals for growth and success in the present scenario! Transform into being a respected and admired leader! In respect of corporate culture and revenue, and being counted in the new social media. To be a name of your own, and to be reckoned with like professionals such as Satya Nadela, Sunder Pichai, and Manu Jain. Be a warm leader, with a growth mindset, and walk the talk always!
Know your customers, and love and serve them. The Millennium customers of today are different! Create customer delight and occasions, big and small, every time. To be loyal to you, and also be recommenders and influencers of your products and services in today’s new D2C situation. To explain the author cites real life examples in Paperboat, Amazon, and the Mumbai’s Dabawalas on how external customer experience and satisfaction can be great generators of revenue and profits.
Employee First! A happy and fun and joyful workplace! Another one of the key rules today. Treat your employees as you will your best customers! Have constantly informed and engaged employees. Empower them and make them your consultants and ambassadors as Apple, Disneyland, and even companies like Tanishq in India have done..
When it comes to branding and communicating of products and services making them deliver the promises is key for loyalty and equity in the market. The author believes that a “cool” brand is attractive, while a “super-cool” brand is irresistible! He further recommends green products! He recommends guerrilla marketing! And also a low cost and high impact ratio, what the author terms as an “Omnichannel,” in the supply chains of marketing and manufacturing. Be it digital or bricks and mortar, your own or paid for, conventional or in the today’s new hi-tech start-up form.
Dismantling old rules of business and putting new ones in their place is vital today! Developing and adopting new business models like Uber, Ola, OYO, and Xiaomi. And for using social marketing channels like Amazon, Flipkart and YouTube! Get ahead or get left behind says the author on a sub-title of his book cover. The book will introduce you to newly minted rules of business to be armed, inspired and confident to take on business challenges and succeed.