Society
Hug the change to keep your business alive
The key to surviving and growing in a changing business environment is to embrace change. Hug the change, for it will keep your business alive and thriving.
In 1974, Xerox, a global leader in photocopiers, printers, and scanners, commanded a dominant 86% market share of copiers. However, by 1984, that share had plummeted to just 17%. At the same time, profits, which stood at $1.15 billion between 1980 and 1984, dramatically fell to only $290 million.
The company found itself grappling with fierce competition, not only from Japanese manufacturers but also from American rivals. As a result, Xerox began losing its once unchallenged monopoly. One of the key challenges was that Japanese companies, with production costs only 40-50% of Xerox’s, were offering superior products at competitive prices. Xerox, which had once reigned supreme in the copier industry, was now struggling to maintain its position. Faced with this difficult situation, it had only two choices: fight or surrender. Xerox chose to fight. But the question remained—how?
The company’s strategy was to closely study its competitors’ operations, from production methods to after-sales service, to understand why they were outperforming Xerox. By comparing each of their processes with those of their rivals, they identified the gaps in their own systems. Armed with this insight, Xerox implemented improvement plans across the board to enhance its processes and regain its competitive edge. This approach helped the company make a strong recovery and regain its footing in the market.
This approach is known as benchmarking—the practice of comparing one’s business processes with those of the best-performing competitors in the industry. The goal is to identify weaknesses and opportunities for improvement. For each function, every process is carefully compared with those of high-performing competitors. Xerox examined every component of its products, comparing them to those of superior offerings, to understand why their competitors’ products were better. They used this knowledge to systematically improve their own processes, ensuring they produced higher-quality products.
In the business world, observing and learning from top performers is not a sign of weakness but a strategic strength. By understanding what makes the best companies successful and striving to improve your own operations, you position your business for success. Benchmarking and adaptability are ongoing processes—businesses that continually evaluate and adjust their practices will thrive in a competitive marketplace.
The key to surviving and growing in a changing business environment is to embrace change. Hug the change, for it will keep your business alive and thriving.
Society
Stand out and succeed: The power of differentiation
The author shares his insights on how embracing uniqueness and differentiation can be a powerful tool for success in business, drawing from examples of leading brands that have redefined their industries.
Have you ever worn socks with dazzling colours and unique designs that stand out from the ordinary? It might sound surprising, even unsettling, to some. Aren’t such socks meant for kids? However, Happy Socks, a Swedish company, thought differently. Their creativity lies in combining unusual colours and extraordinary designs, setting them apart from the rest.
You might wonder, who would buy such socks? The answer might surprise you. Today, Happy Socks’ market spans 90 countries. Delving into their success, we find that the uniqueness of their products is key. While competitors often think conventionally, Happy Socks strives to think differently. Today, their customers take pride and joy in wearing their brand.
Differentiation is a powerful strategy that can quickly capture the market’s attention. Entering a saturated, highly competitive market with products similar to those of competitors gives you slim chances of success. This is where differentiation becomes a winning strategy. Consumers are drawn to products that offer a unique experience.
Embracing your difference is the key to building a competitive advantage
Tesla created a stir in the electric car market with its unique features, capturing the hearts of consumers. It wasn’t just environmental friendliness and technology that drew people in. Tesla’s unparalleled beauty and distinct characteristics charmed consumers, setting it apart from other cars. Features like customization options, solar panels, rapid charging capabilities, and self-driving technology helped Tesla stand out. In a market expecting intense competition, Tesla managed to leave its unique mark through differentiation.
Embracing your difference is the key to building a competitive advantage. Entrepreneurs must evaluate whether they can provide experiences that are truly different from those of their competitors. At this point, price comparisons and competition become irrelevant. Consumers will gladly pay a premium for high-quality, distinctive products.
As the product’s features and qualities become ingrained in the consumer’s mind, they are drawn to the brand, marking the beginning of a long-lasting relationship. Creating this brand awareness should be the ultimate goal of marketing, as it helps establish dominance over competitors.
Once a product concept takes shape, entrepreneurs should focus on making it different. Recognizing that consumers crave unique experiences and high value makes this possible. Differentiation is a weapon against competition, helping you carve out a distinct space in the market.
Society
Meet the Winners of the Infosys Prize 2024
For the first time in its history, the Infosys Prize has focused on recognizing exceptional researchers under the age of 40
The Infosys Science Foundation (ISF) has recently announced the winners of the Infosys Prize 2024, recognizing groundbreaking research across six categories: Economics, Engineering and Computer Science, Humanities and Social Sciences, Life Sciences, Mathematical Sciences, and Physical Sciences. The awards, each comprising a gold medal, citation, and a prize purse of $100,000, were presented at ISF’s office in Bengaluru, India.
For the first time in its history, the Infosys Prize has focused on recognizing exceptional researchers under the age of 40, highlighting the importance of early career achievements in shaping future innovations. The awards were selected by international panel of jurors and were announced by ISF trustees, including Kris Gopalakrishnan, Narayana Murthy, and Mohandas Pai.
The Infosys Prize 2024 Winners:
- Economics: Arun Chandrasekhar (Stanford University) for his pioneering work on social and economic networks in development economics.
- Engineering and Computer Science: Shyam Gollakota (University of Washington) for his innovations in smartphone-based healthcare tools and battery-free computing.
- Humanities and Social Sciences: Mahmood Kooria (University of Edinburgh) for his contributions to the study of maritime Islam and Islamic law in shaping the Indian Ocean world.
- Life Sciences: Siddhesh Kamat (Indian Institute of Science Education and Research, Pune) for his research on bioactive lipids and their role in cellular functions and diseases.
- Mathematical Sciences: Neena Gupta (Indian Statistical Institute, Kolkata) for solving the Zariski Cancellation Problem in algebraic geometry.
- Physical Sciences: Vedika Khemani (Stanford University) for her pathbreaking work on time-crystals and non-equilibrium quantum matter.
The Infosys Prize remains India’s most prestigious award for scientific excellence, with past laureates going on to receive global honours, including the Nobel Prize and the Fields Medal.
Kris Gopalakrishnan, President of ISF, highlighted the importance of recognizing early career researchers, whose work holds immense potential for transformative societal impact.
Society
RFK Jr. at HHS: A health reformer or a risk to public safety?
Robert f. Kennedy jr. And the future of US Health policy: A closer look at the implications of his anti-vaccine stance and food reform efforts
The recent announcement that Robert F. Kennedy (RFK) Jr. has been tapped to head the U.S. Department of Health and Human Services (HHS) under the second term of President Donald Trump has sent shockwaves through the health and scientific communities. Kennedy, a well-known anti-vaccine activist, has long championed controversial views about immunization, leading many to worry about the potential consequences of his appointment for public health in the United States. However, while his positions on vaccines remain contentious, his advocacy for stricter regulations on processed foods, particularly in school nutrition, raises an important debate about the intersection of health, policy, and public welfare.
The Anti-Vaccine Movement: A Dangerous Shift?
Robert F. Kennedy Jr.’s views on vaccines are well-documented and widely criticized by the medical community. He has persistently questioned the safety and efficacy of vaccines, despite overwhelming scientific consensus that vaccines are among the most effective public health tools available to prevent infectious diseases. His stance runs counter to decades of research that have demonstrated the life-saving benefits of vaccines, from eradicating smallpox to virtually eliminating polio and reducing the incidence of diseases like measles, mumps, and rubella.
This would particularly threaten vulnerable populations, such as infants, elderly individuals…
Kennedy’s vocal opposition to vaccine mandates, coupled with his belief that vaccines may cause harm—particularly to children—has placed him at odds with leading medical experts and public health authorities. His appointment as the head of HHS, the agency responsible for overseeing the nation’s public health policy, could have profound consequences. If Kennedy uses this platform to advocate for policies that reduce vaccination rates or diminish the credibility of scientific research supporting vaccines, it could lead to a resurgence of preventable diseases. This would particularly threaten vulnerable populations, such as infants, elderly individuals, and those with compromised immune systems, who rely on herd immunity to stay safe.
In the context of the ongoing global health challenges, including the COVID-19 pandemic, Kennedy’s stance on vaccines poses a potential risk to efforts aimed at preventing future outbreaks. If the U.S. were to experience another pandemic under his leadership, Kennedy’s approach to vaccines could undermine the country’s ability to respond effectively, endangering millions of lives.
A Silver Lining: Food Reform and Child Nutrition
While Kennedy’s anti-vaccine rhetoric remains a cause for concern, his stance on food policy, particularly regarding the food served in schools, offers a more promising avenue for public health reform. Kennedy has been a vocal critic of the processed food industry, particularly its influence on school lunches. He has argued that the widespread consumption of unhealthy, highly processed foods is a key factor driving the obesity and chronic disease epidemics in the United States, particularly among children.
The connection between poor nutrition and health outcomes is well-established. Diets high in processed foods, sugars, and unhealthy fats contribute to a range of health issues, from obesity and diabetes to heart disease and hypertension. The alarming rise in childhood obesity rates has prompted calls for more stringent regulations around the food products served in schools, where many children receive a significant portion of their daily calories. Kennedy’s push for healthier school meals, free from processed foods and filled with nutritious alternatives, is a policy that aligns with the recommendations of many nutrition experts.
Kennedy’s calls for food reform could provide a much-needed counterbalance to the harmful influence of corporate interests in the food industry
While his anti-vaccine views may overshadow his other positions, Kennedy’s stance on food reform is one that could benefit the health of future generations. Improving the quality of food served to schoolchildren would not only help combat rising rates of childhood obesity but could also reduce the long-term burden of chronic diseases, ultimately easing the strain on the nation’s healthcare system.
A Complex Legacy and Uncertain Future
The nomination of Robert F. Kennedy Jr. to head HHS is emblematic of the broader tensions within the Trump administration, which has frequently positioned itself against the scientific establishment. Kennedy’s promotion, alongside other controversial picks, suggests a continuation of the president’s desire to reshape key federal agencies in line with his ideological and political views, often at odds with established science and public health expertise.
However, Kennedy’s anti-establishment persona also resonates with a segment of the American public that feels disconnected from traditional political elites and the institutions that govern public health. His views on vaccines may appeal to those who distrust government-mandated health policies, even if those policies are grounded in extensive scientific research.
At the same time, Kennedy’s calls for food reform could provide a much-needed counterbalance to the harmful influence of corporate interests in the food industry. If he were to focus on improving the nutritional standards of school meals and advocating for greater transparency in food labeling, he could help shift the national conversation toward healthier diets and better public health outcomes.
A Balancing Act for Public Health
As Robert F. Kennedy Jr. takes on the responsibility of leading the U.S. Department of Health and Human Services, the country faces a complex and uncertain future. While his stance on vaccines raises significant concerns, his advocacy for healthier food policies could offer valuable solutions to the growing public health crisis of diet-related diseases. In navigating his dual legacy of promoting vaccine skepticism and championing food reform, Kennedy will need to balance his controversial views with the scientific evidence that underpins public health policy.
The true test of his leadership will be whether he can embrace evidence-based health practices while addressing the pressing challenges of childhood nutrition, chronic disease prevention, and the fight against harmful food industries. If Kennedy can move beyond his anti-vaccine stance and focus on fostering a healthier, more informed public, his tenure at HHS could ultimately benefit the health and well-being of Americans—especially the nation’s children, who will inherit the public health policies of today.
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