The speaker choose to focus on the below three main topics
- Global health economics of country
- Organization health
- Personal Health Global economics
Global health economics of country: In the 21st century the European market after the great recession, will emerge one of the top tourist destinations. The European market will evolve to become one of the leading tourist destinations where most people will visit. Similarly the market leader in manufacturing is China with largest manufacturing capabilities. But in next 20 to 30 years China will go down since it had previously taken the decision of one child policy. The average age of Chinese will be around 40 years which will affect its growth. The growth in Chinese manufacturing sector has helped growth of Brazil economy, as Brazil is one of the biggest suppliers of raw materials required for manufacturing to China. USA which is the world’s largest country with the biggest economy and leads the world will have average age of around 45 in next 20 years as most of the youth has been living life on credit cards and not attending any top league colleges.
India while on the other hand is an economy which the world over refers is growing and not because of politicians, it is growing on it is own ‘growing because of Gods’ (That’s how we are refered in western countries). Last year Manoj Vohra, chief economist, Economist Intelligence Unit, India, quote, ‘Indian economy is like a drunken man, taking two steps ahead and coming back one step’. With the opening of economy in India, most of the Indian companies are facing competition from cheap Chinese and premium European products. With this most of the Indian companies are now targeting Africa as it is one continent which is evolving and the markets are unexplored.
Organization Health – Organization health is the present status of the organization. This health depends on Aggressively Grow, Ruthlessly Prune.
Any organization growth depends on four key aspects
- What is the present market?
- Where is it?
- If the current market is Mumbai then are we planning to expand to Pune?
- How are the markets evolving and what changes are happening in it?
- Products: Are we launching new products?
- What are the new developments happening in the current market?
- What are the new products launched?
- What is the response?
- What types of clients we have?
- What type of clients we are looking for?
- Are they high end?
- Which sector they are presenting?
- Organizations need to answer these questions to understand how they are going to grow.
- Have to hire good people suitable for the job
- Have to groom them to the expected level
- So they perform for the organization’s growth.
Product + Management + Margin = Cost of the product
The company needs to understand direct and indirect cost the company incurs, which helps to reach at the right cost. When circumstances go down, then they should cut resources, so a stitch in time saves the nine, else when difficult situations arrive, they have to start cutting down on resources. It is always beneficial to focus on resources of the company and whenever required cut down the irrelevant resources. In the future most of the businesses will collaborate; they will be working in collaborative environment rather than competitive environment.
Most important advice for R & D: What which is difficult to conceive which will change dynamics of the industry? In case two companies are doing JV or one company is taking over the other one, the most recognizing brand should be retained.
Individual Health: Two tests to be done in every six months
- Homocirtien test: This should below as if this is low it will keep cholesterol low. Incase high then have vitamin B12. To reduce homocirtien is less costly but when it increases it leads to release in cholesterol and this treatment is costly.
- Fasting Insulin serum: This should be low, may be around 1 – 2 lower the better, in case more than 25 then go for diet. Low GI diet