Welcome!

Mobile IoT Authors: Liz McMillan, Elizabeth White, David H Deans, Gordon Haff, Carmen Gonzalez

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
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.
SYS-CON Events announced today that DatacenterDynamics 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. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Ca...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
WebRTC services have already permeated corporate communications in the form of videoconferencing solutions. However, WebRTC has the potential of going beyond and catalyzing a new class of services providing more than calls with capabilities such as mass-scale real-time media broadcasting, enriched and augmented video, person-to-machine and machine-to-machine communications. In his session at @ThingsExpo, Luis Lopez, CEO of Kurento, introduced the technologies required for implementing these idea...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. 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 June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...