Tag Archives: Book Review

What book changed your life?

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Fortune at the Bottom of the Pyramid

I read this book way back in early 2005 and it did quite change my thought process. Even though this book focus’s on helping Organizations understand how Innovative Products work in the Emerging markets, there is a key takeaway for Social conscious people like me.

The book embarks on a journey, in which Late Dr. Prahlad argues that organizations always work with the top and middle of the pyramid, but forget the largest part of the pyramid. Any products and service can be produced at better quality for a lower price when it reaches more than what is anticipated. The discussion/argument is not about the exclusive products like cars or luxury items, but others which are quite necessary. The book takes you through case studies of organizations who have innovated to help people who absolutely need few things, ranging from Home to HealthCare to daily consumables.

I am not going to go deep into any of the case studies, but would like to share how it motivated me to think differently. Before I read this book, my understanding of the world and organizations was very limited, but this book opened my eyes to a whole new world of understanding what consumer needs and how this has changed they organizations did business.

Today, we have organizations building even cars exclusively for the price sensitive population. The products and services which have been innovated for the bottom of the pyramid (price sensitive population) also has impacted the middle and top of the pyramid. Organizations realized this a bit late. The prime understanding of any good producer is that any product/service accepted by consumers will always be accepted. However, one aspect which organizations miss is that even in non-price sensitive markets, people consume only limited quantities. However, when you produce goods and services in smaller quantities, acceptance might also go up!

Look at the classic example of Aravind Eye Clinic in Madurai, Tamil Nadu, India. This organization has constantly innovated from the beginning to provide cost-effective eye care. If you speak to the founder, his inspiration is McDonald’s. He was amazed the Quality of food available at any of the McDonald’s outlets across the world, which is precisely the same anywhere and everywhere. Being an ophthalmologist, he wanted to create something which has the same quality anywhere and everywhere. Today, Aravind Eye Clinic performs more than 600 eye surgeries each day and these surgeries cost as low as $50. What is the outcome? Acceptance in the 80% of Rural India that they too can better their lives.

If I keep quoting case studies, the list goes on. However, the key takeaway for me is to produce something/anything which can be accepted at the bottom of the pyramid and impacts their lives. This will translate to acceptance at the middle and top of the pyramid too.

So, which book changed your life?

The Arc of Ambition

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3 Weeks back, I borrowed a book from my cousin – The Arc of Ambition, Defining the Leadership Journey and it took me close to three weeks to complete it. Every chapter is a must read. The authors James Champy and Nitin Nohria did a lot of research in writing this book and I think I will have to give this a 5 Star rating for all the efforts. Each example which has been illustrated is a classic by itself.

The authors begin the book by defining the arc of ambition. There are various stages in the arc from beginning the journey to giving a graceful exit:

  • See what other’s don’t
  • Follow a steadfast path
  • Seize the moment
  • Temper ambition
  • Inspire with a greater purpose
  • Never violate values
  • Keep control by giving up
  • Change or die
  • Leave gracefully

Each page is a facinating read and this is a must for every individual. These rules need not apply to only enterprises or this book is not only for people who have high horizons, but for every person in this world to evaluate themselves and live for a purpose.

I don’t have any more words to write about this read, it was really worth the time.

My next read is going to be parallel, want to finish How to change the world and take on the Elephant, the Tiger & the Cellphone by Shashi Tharoor.

Art of Innovation

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My last reading is The Art of Innovation, by Tom Kelley, the General Manager for IDEO, the most respect design firm in America.

This book focus’s on how IDEO creates, manages and encourages innovation within the organization.

All of us in someway or the other want to be more creative – be it in selecting our dress, making up our home or as simple as arranging dinner at the table and actually we do put in our thoughts and begin being creative. We take ideas and suggestions from people and try to come up with something better.

While I was reading the book, I wanted to make notes, to ensure that I share with readers of my blog, but now, after completing the book, I dropped the idea, because, you might loose interest in reading the book; however, I will try to memorize and pen down few lines which really make us think. I sincerely recommend anyone who wants to do different in life (either in your job or in your startup).

Business writer Gary Hamel has a prediction “Out there in some garage is an entrepreneur who’s forging a bullet with your company’s name on it. You have got one option now – to shoot first. You’ve got to out-innovate the innovators”. How true?

Each chapter and each page makes you think, and also at times, gives you the thought that silly ideas make a big difference. Among all the chapters, one made a huge difference and changed (am trying to) my thinking – Experience.

What is Experience? You must have definitely been a victim of this many a times. Companies produce products or services and this is no difference, but there are few companies which you really want to remember and there might be few products which you really want to keep using and refuse to change. There is a load of difference between the former and later. Also, there are companies which produce goods and make you come back to use them/provide you the best of experience. Does this give you a thought? This is Experience.

I will give you my live example – I have flown various airlines (at least a couple of them) till date, but there are two airlines which really make me go back to them (even though their price is a bit more than others) – Jet Airways and Singapore Airlines. What makes the difference? The treatment I get, the care they give (pre and post-flight). Coming to other similar experiences, I will have to mention about the grocery store I go every month. I still remember the first time I went, it was just a normal experience, except for the fact that this person casually asked for my name. The next time I went there after about a month, this person welcomes me “Namaste Harigaru” (Salutation in one of the local languages – Telugu) and inquires about how things are going and then proceeds to pack my list. This small gesture makes me go back to him every time even today. I now stay a bit far away from this shop, but still would prefer going to the same place every time – What an impact with just a small gesture. You do not get the same experience in the big chain shops. Yes, everything is organized and you have the liberty to pick what you want, but still, the personal touch is just not there.

All of us would want to create an experience for our clients (family, colleagues, boss, friends etc). This is what makes the real differentiation in lives.

When you create a product/service, think about the DNA of ‘Experience’, that itself makes a mark and creates an impression.

Of all the organizations, how many really care about this? Very few, in fact very few. As I write this, i was trying to recollect when did I have the worst of the experiences – Once, I was in a small temple town in Andhra Pradesh and had to stay overnight. I took a hotel which is the most lousy hotel you can ever imagine. I paid advance and moved into the room. In the morning I noticed that the wash basin does not have an outlet and the water just falls on your feet if you open the tap. I was very disappointed and went and complained. The manager refused to listen and said that it was my problem and it was not his and when i threatened him that i would vacate, he sent his attendant to bring my luggage.

If I start writing all my experiences, then it would make a huge list, but what I intend to illustrate here is the importance of “Creating the Experience”.

You will need to start thinking on just not providing a solution/service, but creating the experience for your customers and this would add loads of values.

When you pen your business plan, have a placeholder for illustrating how you would create Experience and I am sure that would help a lot.

There are many pages which gave me insights into many things – Managing creativity in an organization, office look and feel, freedom to employees etc. which all add to building a great organization. This book does not offer your solutions, but definitely adds to your thought process while you manage your home/work/business.

Believe me, this is worth a read and now, I have become a fan of Tom Kelly for the way the book is structured.