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October 27, 2013

Cohesiveness amongst business competitors–seminar

The other day we had a thorough discussion over the topic stated above and I came across many interesting points that lead to a win-win situation in a global or local market. Back at my hometown (Lahore) and country Pakistan I analyzed how hoteliers and restaurant owners sat down and agreed on many mutual terms of opening up their chains in the same vicinity. By doing so, most of them achieved success in their business and still profit by serving the customers with the quality food, ambience and most importantly the choice to customers to go anywhere else in the same vicinity if they don’t like that very particular restaurant. Customers might come go to another restaurant for dinner/ lunch and may return to the first choice for dessert. Therefore all benefit and survive because of the concept known as ‘Food Street.’

In class I could share this example and further broaden my knowledge of how the very concept of win-win work or can work. Mr. Paul gave an example of his son, an Olympic athlete who practices with his competitors as they all strive to be the best when the big day comes. Henceforth you learn form each other.

In today world business men concentrate on win/loose strategy as they strongly believe in rather than strongly condemning the term cut throat competition, this approach leaves them restricted in their own mind frames of how to perform with in a defined barriers of market. This concepts needs to be changed by broadening the perimeters of the market itself thus producing surprising results.

Mr. Paul gave an example of Ratan Tata in class who expanded the market when people said the market was saturated and produced a car at an affordable price that targeted the lower class. Furthermore when they are 3.7 billion people in the world the market can never saturate but stereotypical practices can be. Diversify and expand is the notion here! 

By being on the top shouldn’t state greed and if it does then that person becomes a bull’s eye for every businessman to place a target on. On the contrary the person on top should help others and achieve harmony in local or global market for everyone to thrive. In short set an example for others when on top.


Cohesiveness amongst business competitors–seminar

The other day we had a thorough discussion over the topic stated above and I came across many interesting points that lead to a win-win situation in a global or local market. Back at my hometown (Lahore) and country Pakistan I analyzed how hoteliers and restaurant owners sat down and agreed on many mutual terms of opening up their chains in the same vicinity. By doing so, most of them achieved success in their business and still profit by serving the customers with the quality food, ambience and most importantly the choice to customers to go anywhere else in the same vicinity if they don’t like that very particular restaurant. Customers might come go to another restaurant for dinner/ lunch and may return to the first choice for dessert. Therefore all benefit and survive because of the concept known as ‘Food Street.’

In class I could share this example and further broaden my knowledge of how the very concept of win-win work or can work. Mr. Paul gave an example of his son, an Olympic athlete who practices with his competitors as they all strive to be the best when the big day comes. Henceforth you learn form each other.

In today world business men concentrate on win/loose strategy as they strongly believe in rather than strongly condemning the term cut throat competition, this approach leaves them restricted in their own mind frames of how to perform with in a defined barriers of market. This concepts needs to be changed by broadening the perimeters of the market itself thus producing surprising results.

Mr. Paul gave an example of Ratan Tata in class who expanded the market when people said the market was saturated and produced a car at an affordable price that targeted the lower class. Furthermore when they are 3.7 billion people in the world the market can never saturate but stereotypical practices can be. Diversify and expand is the notion here! 

By being on the top shouldn’t state greed and if it does then that person becomes a bull’s eye for every businessman to place a target on. On the contrary the person on top should help others and achieve harmony in local or global market for everyone to thrive. In short set an example for others when on top.


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