Dear Reader,
So, I've not been blogging for the last couple of weeks and hence I did catch up on my work that's been overdue and crying for some attention. I was privileged to do some research on the NIFL (NASSCOM India Leadership Forum) that was executed in the month of Feb 2011 for one of my projects and hence thought of sharing some of my knowledge and thoughts with you.
While I was burning the midnight oil, I landed up on this blogpost authored by Sudha Kumar, CEO and Co-founder, Prayag Consulting. I loved this discussion that was part of Day 1 of the Summit where the Grand Master did draw parallels between competitive strategy in business and the game of chess. I had never imagined the Grand Master to be someone with oratorical capabilities or brilliance. Anyway, to assimilate the discussion in Sudha's words -
Each competitor is different and so is each competitive face-off:
The takeaway from this is that you, as an individual or business, are always caught unaware in certain situations because no two circumstances are similar. Your ability to take risks, adapt and respond in the situation is what determines how successful you are going to be.
I personally think that this applies not just in competition but also in customer service. It is important to treat every customer differently since the needs are so distinct, isn't it? That's what brings in customer delight.
Failure teaches you more than success:
For this statement to hold true, you need to have two abilities, the ability to retrospect and the ability to learn. Failure could only teach you something when you acknowledge it to be a failure to begin with and then retrospect. Once you know what went wrong you will, in most probably cases, know what needs change. Bringing the change then is improvement.
Isn't there a saying that goes, "To be successful, double your failure"?
Preparation is the key:
Chess is really hand in glove with strategy. So I'm not surprised that Anand mentioned preparation being the key. Chess strategy is concerned with the evaluation of chess positions, setting up goals and long-term plans for future play. All of these hold true in business as well. As a business that wants to succeed, it needs to look at it's competitors, bench-mark their positions and strategize goals.
So, I've not been blogging for the last couple of weeks and hence I did catch up on my work that's been overdue and crying for some attention. I was privileged to do some research on the NIFL (NASSCOM India Leadership Forum) that was executed in the month of Feb 2011 for one of my projects and hence thought of sharing some of my knowledge and thoughts with you.
While I was burning the midnight oil, I landed up on this blogpost authored by Sudha Kumar, CEO and Co-founder, Prayag Consulting. I loved this discussion that was part of Day 1 of the Summit where the Grand Master did draw parallels between competitive strategy in business and the game of chess. I had never imagined the Grand Master to be someone with oratorical capabilities or brilliance. Anyway, to assimilate the discussion in Sudha's words -
Each competitor is different and so is each competitive face-off:
The takeaway from this is that you, as an individual or business, are always caught unaware in certain situations because no two circumstances are similar. Your ability to take risks, adapt and respond in the situation is what determines how successful you are going to be.
I personally think that this applies not just in competition but also in customer service. It is important to treat every customer differently since the needs are so distinct, isn't it? That's what brings in customer delight.
Failure teaches you more than success:
For this statement to hold true, you need to have two abilities, the ability to retrospect and the ability to learn. Failure could only teach you something when you acknowledge it to be a failure to begin with and then retrospect. Once you know what went wrong you will, in most probably cases, know what needs change. Bringing the change then is improvement.
Isn't there a saying that goes, "To be successful, double your failure"?
Preparation is the key:
Chess is really hand in glove with strategy. So I'm not surprised that Anand mentioned preparation being the key. Chess strategy is concerned with the evaluation of chess positions, setting up goals and long-term plans for future play. All of these hold true in business as well. As a business that wants to succeed, it needs to look at it's competitors, bench-mark their positions and strategize goals.
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