The world is constantly changing. Within the last two decades, we have seen the dawn of the internet, globalisation, recession, political changes, and even a global pandemic. With such quickly changing times, what remains constant? Is business done today in the same manner that it was done say, two decades ago or even five years ago? From being an agrarian economy to moving towards a service one, our nation itself has gone through massive changes. 

Starting from the frenzy for doing government jobs to becoming engineers and doctors, our generations have seen so much evolution in their ambition. The younger generation today is increasingly moving towards entrepreneurship. However, in these times, what does it take to make a business succeed? Does business still work on some basics or do the principles vary based on industry, generation, technology, and region? These are some of the questions that Tata Plus CEO, Harit Nagpal tries to answer in his recently released book, ‘ Adapt’.

Pouring his four decades of experience in the industry into the book, Nagpal tries to connect the readers to the business world in the form of stories, helping them decode the intricacies of the industry, not by lessons, but rather anecdotes.

Watch the full interview here:

In an exclusive chat with ABP Live, Nagpal talks about the approach to business today. He argues that basics don’t change, or else they won’t be called ‘basics’. Having seen the business world turn a full 360 in his years in the industry, he says, “It’s not the basics that are changing, it’s your environment that is changing, be it technology, regulation, or other things around you, which need to be adapted to.”

Elaborating on his process while writing the book, he says that he didn’t want to appear preachy. “I thought of stories as a format. Whatever learnings I had from my life, I tried to create a plot in which I have built some stories, with the objective of engaging the reader,” he shares, which can be seen in his approach in the book. The book uses storytelling to take readers to ten different industries, regions, and even worlds to bring out several anecdotes for the readers to make their own lessons from. While, Nagpal steers clear of writing a learning mandate for the stories, he leaves his audience with questions after each story to help them figure out their own interpretations from the experience.

When it comes to business, Nagpal is clear that customers have to be the priority for any enterprise to succeed. Additionally, he says that companies need to focus on communication, and ensuring that their product reaches the correct consumers for it to become a success. Motivated employees, a culture that enhances innovation, and attempts to utilise the available resources to the maximum extent are other important factors that help an entity thrive, he notes.

Regarding the differentiator for success, Nagpal says, “It’s all about the people. It is people who are the differentiators because technology and capital are available to everyone. You have to understand the people, as that is your differentiator, either on the customer side or the employee side.” 

Discrimination In Workplace

Commenting on discrimination in the workplace, the CEO remains optimistic that things are gradually changing. He states that with organisations opening themselves up for conversations, change is taking place. “When you allow for a conversation in the organisation about this, solutions come out, and people become conscious that these are not the basis to discriminate against someone. In my years, I have seen discrimination reducing, it’s not completely eliminated, but I have seen huge progress in my experience.”

Formula For Success

Regarding a checklist for young entrepreneurs to succeed in business, Nagpal shares his three-point list. He urges the young generation to be experimentative and innovative, and not just be content with working with the previous generation’s learnings. “Progress only comes with experimenting,” he stresses. 

However, at the same time, he cautions against experimenting without a flow in mind or a financial plan. He says that entrepreneurs need to be careful with finances and experiment on a smaller scale to measure the success of their ideas, before betting ‘the house on it’.

Finally, he says, the fear of failure is something that aspiring professionals should let go of. “If you aren’t failing in your experiments, then you aren’t trying hard enough. Your leap needs to be large enough for change, for you to fall a few times.”

You can also buy the book by clicking here.