It has worked for them in the past. But with swift mockers all around them today, will this Titan pull a rabbit out of the hat once again? Analyses Angshuman Paul...
“Slow but steady wins the race.” Consistent and effective efforts lead to success. This is the moral of one of Aesop’s fables – “The Tortoise and the Hare.” Of course, the prerequisite here (as per the fable), for the tortoise success, is that the hare must sit under a tree and relax for sometime before continuing the race. But what if the hare doesn’t want to take a chance and decides not to take a nap midway through the course, even if the tortoise is too slow for him? Well, then we don’t think we need to tell you what will be the outcome…
This alternative version of the Aesop’s fable becomes more relevant when one links it to the to the ‘dog-eat-dog’ world of business. A world where one cannot take a chance to relax, particularly if he (read hare) is running against a bunch of swift mockers that have the potential to beat him in any terrain.
No doubt, Ratan Tata’s gigantic enterprise – Tata Group – has always been known for its fast and furious expansion strategies and the momentum that almost all of its ventures have shown in the past. But wait! Perhaps, this is the only exception – a slow-moving tortoise among a score of swift mockers!
Way back in 1984, when Ratan Tata started Titan Industries, the sole objective was to conquer the wrist-watch market by cornering the then indispensable market leader, Hindustan Machine Tools (HMT) Ltd. Whether attribute it to the luck, the denting position of HMT in the 1990s enabled Titan to score an easy victory over this state-run enterprise without adopting any explicit business strategy. In fact, sources, then close to the Tata family, say that apart from eyeing a significant market share in the Indian watch industry, Ratan Tata really had no big plans with Titan Industries.
Perhaps, this is the reason that Titan was left out from the ambit of the time-honoured aggressive strategies that Tatas had for their other group companies. Even analysts coin it as an enterprise that has moved at a snail’s pace with abundant caution. So, it’s no surprise that the first diversification (jewellery business) for Titan happened after 11 years of its inception and it had to wait for another decade for the next (eye care business). However, Bhaskar Bhat, the deft MD of Titan Industries, coins such delays as ‘doing full homework’ before foraying into a new venture.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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“Slow but steady wins the race.” Consistent and effective efforts lead to success. This is the moral of one of Aesop’s fables – “The Tortoise and the Hare.” Of course, the prerequisite here (as per the fable), for the tortoise success, is that the hare must sit under a tree and relax for sometime before continuing the race. But what if the hare doesn’t want to take a chance and decides not to take a nap midway through the course, even if the tortoise is too slow for him? Well, then we don’t think we need to tell you what will be the outcome…
This alternative version of the Aesop’s fable becomes more relevant when one links it to the to the ‘dog-eat-dog’ world of business. A world where one cannot take a chance to relax, particularly if he (read hare) is running against a bunch of swift mockers that have the potential to beat him in any terrain.
No doubt, Ratan Tata’s gigantic enterprise – Tata Group – has always been known for its fast and furious expansion strategies and the momentum that almost all of its ventures have shown in the past. But wait! Perhaps, this is the only exception – a slow-moving tortoise among a score of swift mockers!
Way back in 1984, when Ratan Tata started Titan Industries, the sole objective was to conquer the wrist-watch market by cornering the then indispensable market leader, Hindustan Machine Tools (HMT) Ltd. Whether attribute it to the luck, the denting position of HMT in the 1990s enabled Titan to score an easy victory over this state-run enterprise without adopting any explicit business strategy. In fact, sources, then close to the Tata family, say that apart from eyeing a significant market share in the Indian watch industry, Ratan Tata really had no big plans with Titan Industries.
Perhaps, this is the reason that Titan was left out from the ambit of the time-honoured aggressive strategies that Tatas had for their other group companies. Even analysts coin it as an enterprise that has moved at a snail’s pace with abundant caution. So, it’s no surprise that the first diversification (jewellery business) for Titan happened after 11 years of its inception and it had to wait for another decade for the next (eye care business). However, Bhaskar Bhat, the deft MD of Titan Industries, coins such delays as ‘doing full homework’ before foraying into a new venture.
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2009
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM fights meltdown, places 2300 students By Education Mail Bureau
Delhi/ NCR B- Schools get better By Swati Sharma
Event at IIPM
The Most Revolutionary Concept In Education PLANMAN CHE CENTRE FOR HIGHER EDUCATION, Supported by IIPM India’s Leading B-School
Detail of all IIPM branches
IIPM set to beat economic slowdown
IIPM - Admission Procedure
IIPM, GURGAON
