Tamil Nadu   

‘Strategy, a major part of globalisation’

CHENNAI: Technology, liberalisation of economy, emergence of services and growing consumer pressure are some of the forces behind globalisation, Nishith Desai, tax and corporate lawyer and founder of Nishith Desai Associates, said on Saturday.

He said globalisation had three major components: strategy, tax and law.

Before globalising one had to study the environment, which included law, history, geography, culture, economics and political science.

Only then could a strategy be formulated for globalisation, he said.

Strategy was all about choices, and how one made choices was the most important in the formulation of strategy. Philosophy was very relevant to strategy, he said.

If one did not have philosophy but only tactic, it would not help the business to survive for long, he said.

The strategy needed to be formed on fronts such as marketing, sourcing, labour, management, ownership, financial, legal, control and public affairs.

Once this exercise was completed, one could think of competing in the globalised world, he opined.

Did size matter for competing in a globalised world? No, he said.

Positioning oneself in the market and how one addressed his space was the most important components.

J. Chandramouli, convener, Taxation and Finance, FICCI, TN State Council, said the rate of growth of the GDP was increasing from 5.6 per cent during the period 1980-90 to 7 per cent during 1993-2001. In the past four years, the annual growth was impressive, at 7.5 per cent, and 9.2 per cent during 2006-07.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

CPI(M) to fight “police excesses”: Varadarajan
A rare attempt, indeed!
Adding flavour
It’s an inspiring experience for aspirants
Bright hopes
Set up child adoption centres: Karur Collector
Local Bodies Day to be observed
Grievances day meet
Two arrested for pasting posters
Dying lake
Minister gives away solatium
Award for primary school teachers
Man beaten to death
Air-conditioning units missing
Sugarcane cultivators to stage demo
A leader remembered
Ration rice seized
Midnight knocks
Day or night?
Lead kindly light
Officers to be sensitised to marriage registration
“Float joint liability groups”
Making them feel at home, Collector style
TNPL donates Rs.20 lakh to two villages in Karur district
Cash relief sanctioned
Hectic shopping on Deepavali eve
Border cities in districts on alert for chikungunya outbreak
No firecrackers this Deepavali for Udavum Karangal
Barnala calls for amity
Botanical garden plan for Kolli Hills near Namakkal
‘Strategy, a major part of globalisation’
Violation continues in bursting firecrackers
Rain lashes Tirupur, traffic hit
Eyes donated
Stressing ethics in medical practice
Quelling darkness
Seminar on Thirukkural
Mettur level
Two killed in accident at stone quarry
Applications invited
Professor gets award
What they say
Training
BIS to conduct seminar
Rain ruin
Construction worker found dead
Protest in Kodungaiyur
Councillors seek debate on giving land to build IT park access road
4 panchayats selected for Nirmal Gram Puraskar
A Deepavali gift for Tirupur residents
SRI, ideal technology for farmers: Collector
Rs.4-lakh profit netted
Highway traffic snarls frustrate passengers
“Ban sand mining at Cauvery bathing ghats”
Guava farming fruitful
Kyoto varsity, Chennai-based institute tying up for research
Minister refutes Jayalalithaa’s allegations
Coast Guard impounds two Sri Lankan boats
Team inspects sites for IIM
Karunanidhi promises more bridges
People pay homage to Radhakrishnan
“Court directive historically significant”
Ensure enough stock of foodgrains: Velu
Position paper on science teaching at post-school level
Swamy seeks action against police officers
Commendable service

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu