Renowned businesswoman and former MD&CEO of Britannia Industries, Vinita Bali, opined that brand ambassadors cannot be held responsible for the quality and performance of the product they endorse, as the very fact that a product is allowed to be marketed in the country vouches for its safety.
Speaking to media prior to her address to the Young FICCI Ladies’ Organisation (YFLO) here on Thursday, she said setting standards for the product and monitoring it frequently is the regulator’s responsibility, in obvious reference to cases being filed against film actors who have endorsed Maggi products.
Delivering a talk on ‘Boardroom and Beyond-Life and Leadership Lessons’, Ms. Bali, who is serving on the boards of several companies including Kasturi & Sons, asked the women entrepreneurs to judge their success on their own terms, instead of living by others’ expectations.
No guilt is associated to women choosing to shun their professional career, but when they opt for business, they should be focused, and set their own rules to achieve goals.
They should believe in oneself and be very clear about their choices even if unconventional, she said, citing as an example her stint in Nigeria at a time when even men did not like to go there.
“Passion without competence will not take you anywhere, and competence without passion will take you only so far,” she cautioned the young business women between 20-40 years of age.
Surrounding oneself with smarter and more competent people is as important as infusing them with the attitude required to suit the business. One also needs to be surrounded by people dissimilar to oneself, as diversity is important to develop the full potential of the business.
Ability to execute and to make money through effective cost-revenue model are vital for sustaining any business.
Answering a question, Ms. Bali welcomed the mandatory provision in the Companies Act, 2013 for at least one woman director in the board, and urged the women to avail the opportunity.
“Indian women tend to feel that they are the pivot around which everything revolves at home. Kids do not always need us around,” she said, when asked about the juggling between career and personal life.
To another question about employees not meeting expectations, she squarely put the responsibility on the leadership, and said she did not believe in “demand-command-reprimand” model.
“Being a leader is about having empathy, sensitivity and understanding, and dealing with each person differently,” she said, and advised the companies to be consistent in words and actions. Senior leadership is the one which sets values of the companies, she said.
