Building business needs strategy & culture: Marico boss Harsh Mariwala's advice to aspiring entrepreneurs
culture isn't always easy, but is a crucial step towards success. Billionaire businessman Harsh Mariwala, who is a well-known name in the industry for creating brands like Saffola and Parachute, took to social media to share his views on the link between culture and strategy. The FMCG guru, in his post, said that an organisation can be successful only when it has the right balance of strategy and culture.
«If the strategy is strong and the culture is weak, that will not work,» he wrote in his tweet. The Chairman of Marico Limited the first step to success is failure. Many people don't take it necessary because they fear failure.
To win a marketplace, one must focus on innovative concepts that include customer interaction — keeping in mind the market scenarios. Discovering your product or service's unique selling point (USP) remains key. «Learning from failures is very crucial to succeed in the market.
If you have to win the marketplace, you must innovate concepts that are pioneering through maximum interaction with customers and keep track of market scenarios. You need to identify what is unique and innovate to become a differentiator. The biggest bottleneck for innovation is the fear of failure and if people in the organization will stop taking risks, then innovation will not happen,» the tweet said.
Last week, the 73-year-old businessman said that getting regular feedback from customers will help foster a culture of improvement and innovation. Companies that welcome feedback create a platform where they can learn, improve and achieve success. «Organisations benefit from honest feedback by fostering a culture of continuous improvement and innovation.
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