Welcome!

Mobile IoT Authors: Pat Romanski, Jonathan Fries, Elizabeth White, Sematext Blog, Liz McMillan

News Feed Item

U.S. and Western Business Leaders, Watch Out -- Chinese and Indian Entrepreneurs Are Like No Competitors You've Ever Faced

They've Sworn to Grow Tenfold in Ten Years, and Don't Play by Known Rules -- "Hungry and Driven" Risk-Takers Are Marked by an "Accelerator Mindset" That Americans and Europeans Should Adopt, According to Research by the Boston Consulting Group (BCG)

BOSTON, MA -- (Marketwire) -- 01/28/13 -- U.S. and Western business leaders, be warned -- Chinese and Indian entrepreneurs are after your markets and your customers, both in Asia and at home. And they're like no competitors you've ever faced.

Entrepreneurs in China and India display an "accelerator mindset." They talk of their "ten-by-ten" strategy -- tenfold growth in the next 10 years. Their outlook is marked by huge ambitions -- a big-picture vision, colossal drams and no limits on opportunities. They describe themselves as "Ph.D.'s" -- "poor, hungry and driven." And the companies they've created -- including Tata, Lenovo, Huawei Technologies and the Godrej Group -- have set their sights not only on home-market dominance but on strong positions in the West as well. Americans and Europeans could benefit if they consider some of the same approaches.

Those are among the conclusions of The $10 Trillion Prize: Capturing the Newly Affluent in China and India (Harvard Business Review Press, October 2012), a new book by Boston Consulting Group (BCG) consultants Michael J. Silverstein, Abheek Singhi, Carol Liao, and David Michael.

"These entrepreneurs are unlike their Western counterparts," Mr. Silverstein says. "They do not feel beholden to anyone, and are not bound by textbook business rules or the constraints of business logic. And they are natural risk-takers. They focus on execution, they're not afraid of mistakes and they don't aim for perfection. They believe instead that they can grow past their mistakes thanks to the rising tide of demand. All of these qualities make them highly unpredictable and therefore formidable competitors."

Chinese and Indian Entrepreneurs Rise to Become Global Challengers

Entrepreneurial companies in China and India have risen to dominance in the past decade -- and not only in their home markets. In 2000, there were eight Chinese companies and one Indian company in the Fortune 400. By 2010 the Fortune 500 included 46 Chinese companies and eight Indian companies. Several Chinese and Indian entrepreneurial companies have grown to become challengers on the global stage, including:

  • India's Godrej Group, where chairman Adi Godrej first defined the "ten-by-ten vision," has created new markets through innovative partnerships with Western appliance-makers -- its tiny, efficient Chotukool refrigerator was designed for rural Indian customers who have unreliable electricity and limited space.

  • China's telecom leader Huawei Technologies, where chairman Ren Zhingfei, an Army veteran who says he leads his "pack" with a "wolf spirit," allowing them to "swarm the market" with a huge service staff, and applies Maoist principles to management, emphasizing a "rural-first" strategy, promoting self-criticism, combining theory and practice by rotating managers upwards and downwards, and applying dialectic to keep staff intensely optimistic -- and focused on the next crisis. He led an innovation effort that made the company the world's largest patent applicant by 2009; it is now making inroads in Russia and Europe, and exploring the U.S. market despite American security concerns.

"What sets the leaders of these and similar companies apart is their extraordinary inventiveness, an enormous capacity for industry, and exceptional willpower. They really do not take 'no' for an answer," Mr. Silverstein says.

According to Mr. Silverstein and his colleagues, several qualities distinguish Chinese and Indian entrepreneurs: They start with a clean slate, instead of following rulebooks or existing templates; focus on a specific opportunity, identifying niches such as Godrej's move to create a rural appliance market; scale up or refocus as needed, reconfiguring staff and production on the fly to take advantage of fast-moving opportunities; learn by doing, without investing significant time or resources in plans and studies; and drive relentlessly forward, moving past mistakes in the conviction that future growth will take care of present challenges.

While Chinese and Indian entrepreneurship can be seen as a threat, it might also revitalize American and European business, Mr. Silverstein says. "The irony is that entrepreneurs in China and India are pursuing their own version of the American Dream. If Americans embrace this new wave of competition, they might rediscover some of the qualities that made them successful in the first place. This revival of the entrepreneurial spirit might turn out to be China's and India's most enduring export."

For more information, please go to www.bcgperspectives.com/10trillionprize.
Follow Michael Silverstein on Twitter @MJSilverstein.

To arrange a conversation with one of the authors and/or receive a copy of The $10 Trillion Prize: Captivating the Newly Affluent in China and India, contact Frank Lentini of Sommerfield Communications at (617) 939-9094/ [email protected].

About The Boston Consulting Group
The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy. We partner with clients from the private, public, and not-for-profit sectors in all regions to identify their highest-value opportunities, address their most critical challenges, and transform their enterprises. Our customized approach combines deep insight into the dynamics of companies and markets with close collaboration at all levels of the client organization. This ensures that our clients achieve sustainable competitive advantage, build more capable organizations, and secure lasting results. Founded in 1963, BCG is a private company with 74 offices in 42 countries. For more information, please visit bcg.com.

About bcgperspectives.com
Bcgperspectives.com is a new website -- available on PC, mobile phone, and iPad -- that features the latest thinking from BCG experts as well as from CEOs, academics, and other leaders. It covers issues at the top of senior management's agenda. It also provides unprecedented access to BCG's extensive archive of thought leadership stretching back almost 50 years to the days of Bruce Henderson, the firm's founder and one of the architects of modern management consulting. All of our content -- including videos, podcasts, commentaries, and reports -- can be accessed via PC, mobile, iPad, Facebook, Twitter, and LinkedIn.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Internet of @ThingsExpo has announced today that Chris Matthieu has been named tech chair of Internet of @ThingsExpo 2017 New York The 7th Internet of @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, New York. Chris Matthieu is the co-founder and CTO of Octoblu, a revolutionary real-time IoT platform recently acquired by Citrix. Octoblu connects things, systems, people and clouds to a global mesh network allowing users to automate and control design flo...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
The Internet of Things (IoT) promises to simplify and streamline our lives by automating routine tasks that distract us from our goals. This promise is based on the ubiquitous deployment of smart, connected devices that link everything from industrial control systems to automobiles to refrigerators. Unfortunately, comparatively few of the devices currently deployed have been developed with an eye toward security, and as the DDoS attacks of late October 2016 have demonstrated, this oversight can ...
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for ...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, discussed why and how ReadyTalk diverted from healthy revenue and mor...
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...