Technology Has Resulted in Thriving Entrepreneurial Endeavors in Developed Countries like the Usa
Introduction
Technology has resulted in thriving entrepreneurial endeavors in developed countries like the USA. One of the factors contributing to such technological advancements is the optimal use of resources which therefore leads to innovations. It is the fruit of reforms and assiduous research and development undertaken by small, medium and large sized organizations which is further backed by conducive socio-political conditions.
On the other hand, management in developing countries like India pays more attention to resources and the infrastructural aspects as the same are not easily available. Thomas Friedman has encapsulated this contrast in his book – ‘The World is Flat which further illustrates how scarcity of traditional growth capital (debt and equity), due to lack of regulatory policies proves to be a hindrance to the growth of technology organizations in India.
It is therefore interesting to study what kind of strategies and processes are employed by a technology organization in a developing country to flourish in the currently prevalent conditions. An interesting case in point is the Ram Ratna group. The Ram Ratna Group consists of nine subsidiaries ranging from producing dyes and chemicals to manufacturing mechanized car parking systems. For this paper, I have concentrated on studying the three main manufacturing subsidiaries of the Ram Ratna Group. I have shortlisted these subsidiaries because of the technology that they use.
RR Kabel
RR Parkon
RR Earth
Brief History
The Ram Ratna Group made a humble start in 1965. The founder and Group chairman, Mr. Rameshwarlal Kabra established a small electrical trading shop in the erstwhile city of Bombay. Mr. Kabra had a simple but effective strategy: Work hard, establish, consolidate – move up in the value chain. While consolidation was their mantra, diversification has also paid huge dividends. Their focus has been to instigate limitless growth prospects, and supplicate future demands efficiently with the use of the state-of-the-art technology.
The Ram Ratna Group has since moved on from manufacturing winding wires to manufacturing electrical insulated PVC wires. The growth story has never stopped since. Four decades later and after the formation of various group companies, The Ram Ratna Group today is the market leader in most of the industries which it competes in. The Ram Ratna group is now a leading cable manufacturer in India and has established subsidiaries which include manufacturing electrical switches, copper bus bars, dyes and chemicals, power outlet systems, earthing accessories and mechanized parking systems.
Technology Analysis
Scope for constant improvement in technology