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In late 70s, even a thought about global markets and global competition would have been termed as ridiculous. To think global didn't suit us, given the amount of protection by state. But now with dismantling of borders, entrepreneurs find themselves very much in the midst of cut-throat global competition. Suddenly the cost and quality competition has attained new proportions. It is not that the cost and quality were not thought of before but the competition was localized and limited and so were efforts in pursuing for cost and quality effectiveness.
Entrepreneurs today are under tremendous pressure on account of global forces to change and adapt fast to survive, sustain and grow. Writing on the wall is very clear. It is " Change or Perish" .It is a hard but true fact that the present fast changing face of the world economy has found us wanting on many fronts and has literally taken winds out of us.
Kudos to the founding fathers of Ludhiana Management Association (LMA) that they were able to foresee the paradigm shift that was in the offing in the Indian industrial and business sector at that time only. In real sense, the birth of LMA in 1978, was a step towards facing and conquering these very unforeseen challenges which we today find ourselves surrounded with. |
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In late 70s, even a thought about global markets and global competition would have been termed as ridiculous. To think global didn't suit us, given the amount of protection by state. But now with dismantling of borders, entrepreneurs find themselves very much in the midst of cut-throat global competition. Suddenly the cost and quality competition has attained new proportions. It is not that the cost and quality were not thought of before but the competition was localized and limited and so were efforts in pursuing for cost and quality effectiveness.