Of Setbacks and Comebacks

“Setback facilitates a comeback”, so goes a saying. A setback knocks you down. But winner is the one who rises and runs.

Why Do Businesses Fail?

Experts cite six main reasons. Here’re they:-

Reason Case In Point
Faulty Judgement of CustomerTata’s Nano car was sobriquetted as a cheap car of the masses. In India, where car is also a status symbol, the cheap tag fell flat.   
Improper TechnologyUS car manufacturers failed to succeed in India. The reason is technology. American cars are known for form than function while Indians prefer performance over looks.
Un-Appealing ProductJet Airways flights had more legroom with lesser seats and higher fares. Non-Business travellers chose to scrunch up their legs rather shelling out more.
Untimely Product Launch Too early launch causes unacceptance; too late entry faces cluttered space. ‘Just Dial’ when launched directory service in 90’s; suffered acceptability as print directories were preferred then (unacceptance). When its search engine came a decade later, the market had many players like Sulekha and India Mart (saturation).  
Business model hick ups  Indigo project themselves as ‘Always being on-time’.  But with the increased business, the variable worries – landing slots, congestion, fuel expenses- too increased.  
Error in Execution  Kellogg’s instant cereal breakfast was a hot pick abroad. But Indians had a breakfast pattern. Kellogg failed to indianize their products and failed.  


The tough rides have not deterred these brands. They have explored other prospects and the show goes on.

Learners’ Opportunity

Needs of a business are dynamic and are dependent on market conditions. Keen to explore further? Check our program @https://online.ifheindia.org/

Discussion Question

Now it’s your turn. Tell us about two business turn-offs which you’ve come across.

Key Words

#BusinessEnvironment #BusinessStrategy #onlinembacourse #mbabestcourses #onlinembaprograms #elearning #learningsimplified #onlinembaforworkingprofessionals #entrepreneurshiponlinemba

Source Article

Lak Ananth- The 6 Reasons for Business Failure, and How to Address Them