Learning from the Recession
Why is it that the mightiest of the Automobile companies and the greatest banks are crumbling? Whereas, in the current mayhem the Silicon Valley based companies are doing far better?
Following are reasons to my mind:
- Silicon Valley based companies are predominantly run by people who have a science background, either academically or their orientation is science.
- Most of them have failed multiple times before they have succeeded, so they take failure in the right spirit.
- They have created a very competitive environment that keeps them on their toes; they are passionate about preventing monopolies. Whereas companies seeking the dole have gone out of their way to create cartels in the name of consolidation.
- Most of the people are creative; they love to create.Whereas the companies who are failing love to be bureaucratic.
- Silicon Valley companies derive primary pleasures from the work they do, where as companies who are on a grant from the government, derive more pleasure from the secondary things such as the money packages and the perks.
- Companies on the government grant have many hierarchies that would dwarf the Empire State Building. Where as the Silicon Valley companies are flat.
The list is endless. The severe recession that the world faces today is predominantly the making of companies that operated from primitive mould. To deal with the current recession, the way is simple if you be and do the following:
- Learn more and more about science, become more and more scientific in your approach.
- If you fail, don’t think that you are a failure. Take any failure as a feedback as to how to become successful. Thomas Edison was famous for his quote that I failed a 1000 times, and every time I failed, I learnt how “not” to make a bulb.
- Learn to respect and enjoy competition. We compete not to beat others but to become better and better in the process.
- Be driven to Create. Forgo bureaucracy.
- Learn to love what you do, not for what you get but more for what you can put in.
- Strive to become flat. The World indeed is becoming flat. It is going to be a level playing field, let us get used to it, or else the recession will lead to depression for us.
If we do these six things, I can assure you, we will look back at the current times as the beginning of a glorious era, the era of plenty.
Please do your best.
About The Author
Vijay Batra is an MBA, from University of Pittsburgh, USA and a graduate of the Japan Management Program from JAIMS, Hawaii, USA. He joined Kankaku Securities (subsidiary of Dai-Ichi Kangyo Bank) as a lifetime employee in 1987.