The Hindu : Karnataka / Bangalore News : `Indian companies need to develop a global mindset'

Online edition of India's National Newspaper
Saturday, Oct 14, 2006
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Karnataka

Karnataka - Bangalore

`Indian companies need to develop a global mindset'

Staff Reporter

TRADITIONAL START: Hindustan Lever Ltd. chief executive officer Douglas Baillie inaugurating the panel discussion arranged by IIMB in Bangalore on Friday. With him are (from left) Gunendra Kapur, president, Reliance Retail Foods Business, Madhukar Sa bnavis, regional director, Thought Leadership, Ogilvy & Mather (Asia-Pacific), and Rajeev Gowda, faculty, Economics and Social Sciences, IIMB. — Photo: V. Sreenivasa Murthy

BANGALORE: If Indian companies are raring to go global, they have to be multi-local and meaningfully engage with local communities abroad. Hindustan Lever Ltd. chief executive officer Douglas Baillie's view resonated through a panel discussion arranged here by IIMB.

While acknowledging that many Indian firms had made successful global forays, Mr. Baillie stressed the need to integrate with the local customs and cultures.

The discussion, labelled "Business beyond boundaries" was arranged as part of IIMB's annual festival "Vistas 2006."

Madhukar Sabnavis, regional director, Thought Leadership, Ogilvy & Mather (Asia-Pacific) said, "If being an MNC means dealing with multiple cultures, then the Indian firms had been doing that for years. Because, India is a country of many nations with many cultures. They can draw from their experience in India itself to go global," he observed.

But Mr. Sabnavis wanted the companies to guard against the Indians' inherent weaknesses: the "chalta hai attitude," which fortunately was on the wane, post-liberalisation.

For potential Indian MNCs, he had a word of advice: They need to manage a diverse workforce out there. "A huge amount of local sensibilities need to be addressed, different levels of empowerment are required. There is also the need to develop a global mindset. The corporate governance should be really world class."

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