Kingdom “One State” was different from all others. It was today where no one expected it to rise, but it had. Its story was not different from Kingdom Outsourcing, but the solutions it adopted were radically different.It started the wave of exports. Anywhere around the world, any product people use should be made in Kingdom “One State”- This was its single point agenda. The reason behind it was simple: Kingdom one state knew its strength lay in large available human resource pool in other words cheap labour costs. And the growth story of “One State” started.Bottom-line: Know your strengths
Starting exports was fine, but it brought with it economic prosperity and chances of a stronger currency meant an imminent danger to its strength. So it decided to undervalue its currency. The result : Exports continued to soar.
Bottom-line: Know the factors which affect your strengths
But what really separated kingdom “One State” was its great desire to invest in infrastructure with the foreign exchange it earned. What it led to is a situation where its workforce was internally employed to facilitate its own infrastructure which will lead to growth of industries and further prosperity.
Bottom-line: Invest in your infrastructure. Don’t neglect them.
Another area which “One State” recognized was R & D. In fact off late the largest number of patents are being filed by citizens of “One State” and moreover most of them are also pursuing higher studies at universities abroad.
Bottom-line: There’s no substitution to value addition.
Citizens of “One State” had one more credit to them: they always used products which were locally manufactured in their home state and tried to avoid foreign produce as much as possible. This resulted in rise of a strong domestic brands and organizations which were now targeting for a share in kingdom Market.
Bottom-line: Never ignore your domestic market
According to a news report in “Trendwatch”, Kingdom Company has offered an olive branch to kingdom “Outsourcing”, seems more interesting dynamics are on the cards…
You might like reading:
Catch Ideas Early: Identify Mega Trends
Should I take up this idea and start a business around this? How will I know whether this business idea is sustainable? Should I hire a Consultant to understand the nuances? Well the answer to all this is: Believe in your capabilities and Identify a Mega Trend. Going by the history all successful entrepreneurs identified a trend and modeled […]
Don’t smoke ads – why they do not work ?
“Cigarette smoking is injurious to health”- The tag line is quite common on any cigarette pack being sold in India. To add to it, the packet also bears an image that should scare most smokers. However, the question is has it actually succeeded? Incidentally India remains the second largest producer of tobacco in the world, accounting for nearly 8.5% of […]
