Taking economy to next levels is the way forward

Posted on: August 12, 2018

Leave action in hands of youth

Political leaders should inspire youth to act

By Santosh Goenka / NV Paulose

 

Santosh Goenka, SN Ramesh, NV Paulose at Guhantara

 

Ignited minds only can develop a nation!

India should fast forward economic growth by taking advantage of its youth. While the reins of the nation remain in the hands of seasoned politicians, Leadership of Action should be passed over to the young and the dynamic. We need not bank upon budgetary allocations for making our economy to progress. All that needs to be done is allow youngsters to travel down new paths, wherein they are free to make use of emerging opportunities.

No nation is ready to compromise on development, but all are facing scarcity of funds for developmental work. Africa is a large source of revenue for India to harness from the Electrical industry, according to the experience of Bajaj Electricals. Many Indian companies have similar stories to tell with different details. Growth, then involves innovation. Implementation involves much more complex involvement, once innovation is done. Benefit for more people is possible when we create large circles of implementation. Revenue circles should be more in number and scale.

 

NV Paulose, Mysore Nagaraj, Santosh Goenka, Wing Cdr. Ghosh at JACE

 

Santosh Goenka and SN Ramesh at the residence of Ramesh

 

Triangle to Vertical:

Present economic circles are capitalistic and the model is just a triangle at first level and a vertical at next level. Innovator, Investor and Business model are the three components in the economic harvest process. The investor supports innovator and later the revenue from the business is shared between the two. Initial struggle is for the innovator. It is really a struggle for the innovator to make the investor understand the potential of the innovation.

The struggle period ends once the investor understands the revenue model. Next level is the stage of negotiation. Investor typically acts as if the idea is not understood or attempts to convince the innovator that the idea is not as big as it is claimed to be. That process is to fix a lower price for the innovator and to create a better ratio for the investor.

Business deal between the innovator and the investor happens at further stages. Innovator gets a big sum for the innovation and eventually is eliminated from the scene. Reason for this elimination is the idea of the investor to take large benefit out of the innovation without sharing the fruits with the inventor.

What happens in this process is the same as uprooting a plant from the fertile land to plant it in a barren land. An idea is like a plant. It need nurturing like a plant. An idea is like a painting. It needs to be painted properly in every detail. A painting initiated by an artist cannot be completed by someone who does not have any experience in that segment. Paintings in Sistine Chapel are dedicated to the artists and not to the then Popes who were in possession of those creative marvels. Once the innovator is eliminated, the Triangle becomes a vertical. Now the investor must take care of the business and make maximum money out of it.

A Vertical cannot stand for long without its roots. It falls and dies eventually. The Investor must have made much more that the money spent on it. But there has to be a huge loss for the larger society when a tree of innovation is cut and sold as wood. The price of wood amounts only 0.005 percent of the total value of a tree when it lives to its true life. We have killed plenty of ideas in the process of making the triangle into verticals.

Triangle to Circle:

The new model proposed is to develop the triangle into large circles by involving all the stakeholders in the process. Even the consumer is part of the large circle and transparency is the way to make it possible. One should notice the change in the Chinese approach to business process. China once known for the cheapest production destination has now started to outsource. Production cost in China is more than elsewhere in many cases. We should fix the business processes and sharing the benefit of economy with everyone who deserve a share. This change in approach can help corporate houses to earn much more when they outsource most of their production process to smaller companies. We need to reach out to Indian villages and should search for ways and means to harness economic advantage from such destination. Definitely, by giving everyone their due share, the economy will be able to sustain for a longer period.

Good luck

Let us go ahead

 

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