Welcome!

Mobile IoT Authors: Liz McMillan, Elizabeth White, Scott Allen, Karyn Jeffery, Pat Romanski

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
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, will discuss the importance of WebRTC and how it enables companies to fo...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that EastBanc Technologies will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. EastBanc Technologies has been working at the frontier of technology since 1999. Today, the firm provides full-lifecycle software development delivering flexible technology solutions that seamlessly integrate with existing systems – whether on premise or cloud. EastBanc Technologies partners with p...
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that BMC Software has been named "Siver Sponsor" of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. BMC is a global leader in innovative software solutions that help businesses transform into digital enterprises for the ultimate competitive advantage. BMC Digital Enterprise Management is a set of innovative IT solutions designed to make digital business fast, seamless, and optimized from mainframe to mo...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty ...
As cloud and storage projections continue to rise, the number of organizations moving to the cloud is escalating and it is clear cloud storage is here to stay. However, is it secure? Data is the lifeblood for government entities, countries, cloud service providers and enterprises alike and losing or exposing that data can have disastrous results. There are new concepts for data storage on the horizon that will deliver secure solutions for storing and moving sensitive data around the world. ...
18th Cloud Expo, taking place June 7-9, 2016, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some...
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, will provide an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
Join us at Cloud Expo | @ThingsExpo 2016 – June 7-9 at the Javits Center in New York City and November 1-3 at the Santa Clara Convention Center in Santa Clara, CA – and deliver your unique message in a way that is striking and unforgettable by taking advantage of SYS-CON's unmatched high-impact, result-driven event / media packages.