AIMA Study Identifies 20 Key Factors of Successful Businesses

As many as 20 distinct factors, characteristics and practices are the key to the success of most outstanding business organizations in India, says a detailed study commissioned by All India Management Association (AIMA) and carried out by Prof Abad Ahmad and Prof O.P. Chopra of Delhi University's Faculty of Management Studies (FMS).

The study that is based on Delphi type methodology and Ethnographic type approach research into the working of 19 select companies---ranging from Infosys and Wipro to Reliance, Hero Honda, Hindustan Lever Ltd and Tata Sons, Eicher and IDBI---- was presented at AIMA annual National Management Forum (NMF) here today.

The study titled, 'Passion for Success', was taken up for a detailed discussion this morning by a high profile panel comprising Mr R. Gopalakrishnan, Executive Director, Tata Sons, Mr K. Dinesh, Director, Infosys Technologies and Mr Bimal Raizada, Sr. Vice President-Corporate Affairs, Ranbaxy Laboratories Ltd. Over 100 CEOs, top management professionals, bureaucrats and academicians attended this year's NMF held at Hotel Taj Mahal.

The 20 identified factors were placed in five broad categories by the two researchers. The five categories are: Leadership's Passion for Success, Clear, Ambitious Goals and Winning Paradigm; Long Term Institution Building-oriented, Visionary Leadership; Holistic, Dynamic and People Centric Approach; Simplicity and Character; Strategy of Sensing Business Opportunities, Innovative Business Propositions.

Outstanding implementation skills and operational efficiency, institutionalized processes and systems, superior logistics, mastery, ownership and development of technology and adaptive organization structure were identified as the factors responsible for their continued successes.

"In short, the organizations that demonstrated sustained outstanding performance and competitive edge were driven by leadership with a passion for success were more operationally value-based and principle-centred. They perceived opportunities where others saw threats and barriers. Some of them sensed business opportunities beyond the visible horizon.

"They anticipated change and quickly responded to change. They converted latent needs into demand by innovative business propositions by offering valued products and services at affordable price," they study points out, adding that these organizations had "continuously mastered, obtained, internalized and upgraded technology that would give them best results".

The full text of the report with supporting evidence and data is to be published as a book by AIMA soon, according to AIMA Director General Maj Gen D.N. Khurana.

For further information, please contact:

Maj Gen D.N. Khurana Ayesha Silveira/ Mohita Singh

AIMA Vaishnavi Corporate Communications

Tel No. 011 24635012 Tel No. 022 22824336/8

Fax No. 011 24626689 Fax No. 022 22824339

Cell No. 9810035024