Business Strategy

Wise men learn by other men's mistakes, fools by their own."
-- H. G. Wells

This quote, timeless in its application, seems to sum up quite accurately the thinking and mentality of Asia's businessman of the year, Sunil Mittal. Mittal is the head of the largest mobile provider in India. It wasn't always the biggest, however. Several years ago, as the wireless market was taking off, Mittal had a big decision to make: how was he going to stay on top? Instead of sticking with tradition and absently following the market, Mittal decided to be wise and learn from the experience of others, particularly those in America and other nations. Although he lived in India, where all the outsourcing was taking place, Mittal decided to apply their reasons for success to his own business. He outsourced. From India. Although it was revolutionary at the time, it made all the difference. The business strategy demonstrated by Wells' quote, if used carefully, can lead to many successes in the technology world. As companies innovate to expand, strengthen and improve their services, others will be watching. The key to success is being ready to change, even when that change contradicts the accepted. People looking to make a difference have to be willing to take a risk. At times, it is appropriate to learn through your own mistakes, but if you carefully watch others' success you may be able to improve by following their ideas. Mittal is the perfect example of noticing a new idea and then applying it, despite the unconventionality of it. He learned from America the value of outsourcing. He applied it and gained billions in revenue. He leads the market in India...all because he learned from another man's experience.

Asia Business Man of the Year