New Age Business Drivers for Business Sustainability and Profitability
On Wednesday, January 30, 2019, IndSearch organized a guest session for MBA students. Guest speaker was Dr. B. B. Goyal, University Business School, Punjab University, Chandigarh. He guided students towards ‘New Age Business Drivers for Business Sustainability and Profitability’.
Dr. Goyal commenced session with discussion of an interesting case study of tough competition between Pepsi and Coca-Cola companies. Then, he explained the importance and significance of competition in any business. He discussed with students how constantly developing technology and changing distribution models are revolutionizing the whole working of businesses. He briefly explained 3 Cs in marketing - customer, competencies and competition.
Further, Dr. Goyal described how, in today’s world, every business is a service business. He emphasized that the combination of wonderful product and excellent service can certainly help businesses to tackle and beat the competition in the market.
In the next part, he unfolded ‘X Factor Theory’. ‘If you think you are done, you are undone’, this is how he explained the importance of constant improvement and the X factor which is difference between what you are doing and what you can do.
Finally, Dr. Goyal shared the new 4Ps of marketing in today’s era - SIVA i.e. Solution, Information, Value and Assess. He explained that making your company’s offerings very easy for the customers to assess and access will definitely help to achieve the sales and establish the product in market.
The session received very encouraging response from the students. They were highly motivated by the key insights they received regarding new age business drivers for sustainability and profitability of business.
Honorary Director General, Dr. Ashok Joshi, Director, Dr. Aparna Tembulkar, all faculty and non-teaching staff acknowledged Dr. B. B. Goyal for his valuable guidance and thanked students for their enthusiastic participation in the guest session.