While the formula might not turn us all into the next Richard

Branson, the combination of intelligence, a bursting contacts' book,

ambition, vision and a drop of good luck can definitely help put us on
a pathway to success.
But are these ingredients really enough to see you succeed? In
today's business environment - with constantly shifting social,
economic and technological priorities - one element that's vital, but
often overlooked, is change. The willingness and ability to embrace
it with arms wide open is crucial.
It might be plain stubbornness, an aversion to risk, blind
sightedness, pressure from the board, or resistant employees, but
many business people fail to overlook the need to implement
changes which could make the difference between whether their
company is listed on the FTSE 100 or struggling to survive.

 Lateral thinking, or the ability to think outside of the box, is the

difference between survival and death for a business Keshav Murugesh

The experiences of those who are brave enough to adopt

change show there are huge financial and competitive
advantages to be gained.
Invest in change
"Innovation is the most necessary ingredient in today's
dynamic world," according to Karan Chanana, CEO of Amira
Nature Foods Ltd, the first family owned Indian company to
list on the New York Stock Exchange, with a total revenue of
$547.3m.
"It is like air to humans, every breath of innovation survives
and thrives," he said.

 Founded in 1915 as a small family-run trading company,

Amira went on to become India's first fully-automated rice
milling factory in 1993. By investing in a processing plant in
Gurgaon, near New Delhi, Chanana refocused on premium
rice products, which have a long shelf life, and organic
products including rice, lentils and beans, and spices.

Chanana concedes that business people have different

thresholds for change but believes everyone must accept that
at some point they'll have to take a risk and enact change.
He believes that in business, challenges are a part of
everyday life. "Anyone who believes that business or life will
be a smooth ride is living in a fool's paradise."

Make or Break
"Lateral thinking, or the ability to think outside of the box, is
the difference between survival and death for a business,"
said Keshav Murugesh, CEO of WNS, a leading Indian
outsourcing company based in Mumbai.

He is known in his company as the "the turnaround guy",

having built a reputation for improving an ailing company's
fortunes at Syntel before joining WNS four years ago. In that
time, he has doubled the company's market cap to $1.1b and
revived its declining fortunes.
Murugesh believes companies stagnate because leaders are
unable to push themselves out of their comfort zone and
challenge the status quo.

 "It's about the fear of failure, the requirement for new

technology, and the cost of new investment," he said.
"But people who can make these changes in a planned
manner see success."
But, he said, people have to remember: "There is no
such thing as failure, only some steps between where
you are and where you aim to be. It's about planning,
motivating and leading people, and also an element of
luck which every CEO needs to have."

Size Matters
"When it comes to change, size matters," according to John
Brash, founder and CEO of Brash Brands, a brand
consultancy headquartered in Dubai whose clients include
The Burj Khalifa.
"On the whole, larger organisations do take longer to effect
change. Approval processes are lengthier, plus the sheer
volume of people to communicate with will naturally take
longer," Brash said.
As an example he cites Dubai's Dnata, the world's fourth
biggest combined air services provider which has a footprint
in 73 airports in 37 countries and has more than 20,000
employees. Dnata embarked on a complete rebranding
exercise in 2011 as a result of many acquisitions which had
led to it quadrupling in size in just six years.

Brash said: "The new brand strategy, vision, mission and

values needed to be communicated to over 20,000 people.
He acknowledges, however, that some business leaders
find change a painful process: "Whilst some business
owners may have the desire to innovate, the process as a
whole can seem overwhelming. If they are doing well whilst
doing the same thing some can be reluctant to rock the
boat. It's myopia of the market they are in."

Social and Digital Change

Going forward, Brash believes that businesses must
adapt to new forms of modern disruption such as
social media, cloud computing, 3-D printing,
technology and popular new business models that
involve mobile apps such as Uber, the taxi service.

In the future, he said, the chief marketing officer will

become an important decision-maker, on par with the
CEO of a company because of the implications to a
business of digital innovation and the impact of social
media. "I want to understand how Generation Y thinks
and acts," he said, "because they are the customers of
the future."

 One way WNS keeps innovation at the forefront of

their business strategy is by leading an ideas division
called Wincubate, where employees are encouraged
to contribute new thinking. The team with the most
promising concept wins $250,000 (excluding people
costs) to launch their programme. After 18 months the
decision is made on whether to create a new division
to develop that idea as a business proposition, in
which case the team members receive a 26% stake in
the new company.
Brash said: "Without consistent lateral thinking any
business will start to slow down over time. Younger,
hungrier talent will come to the market and erode your
share through their innovative methods.

 "Many companies can get caught up watching their competition,

rather than keeping pace with their consumers, especially the
constantly evolving Gen Y.
After all, as Stephen Hawking said, "intelligence is the ability to
adapt to change".

For More Information:

https://www.sc.com/hereforgood/hk/is-change-the
cornerstone-of-success.html?camp_id=N:GP-S:HGD-M:O
P:NA-C:BNR-B:NA-R:NA-T:NA-O:NA-L:NA-D:150101
I:10002558

http://www.amira.net