Book Name: Corporate Chanakya
Author Name: Radhakrishnan Pillai
About the book: Corporate Chanakya is a book based on the teachings of Chanakya. The author was once riddled with the best strategies to practice in business. He started searching for his answers, in books, asked many people and referred to western business practices. But to no avail, he could not find the answer. He followed a piece of advice given to him by his mentor that was to learn more about Kautilya’s Arthashastra.
If you are not familiar with Chanakya you can click here to find out more.
The Book Summary Of Corporate Chanakya
1.Power in the Corporate World
The author says that out of the 15 books in Artha Shastra out of which 6 books are on warfare which was India`s contribution to warfare strategy.
Kautilya i.e Chanakya describes four main factors in making a powerful organization or a person with power.
1. Intellectual Power
The author says that in the modern world today, the person with the most accurate and vast information or intellectual knowledge has more power with him than others.
In the present and the future, the person with more knowledge will not only be more successful but also powerful
For eg: Bill Gates one of the richest in the world belongs to it (Knowledge-based industry)
The author says a successful company has a lot of manpower behind it. It is in the form of internal and external. The internals is the employees, shareholders, etc and the external are the customers, suppliers, etc.
The more the manpower more successful the company. Even in politics the person or the party with more followers is the most powerful one.
3. Financial Power
Every successful person has some financial power with him. Similarly, every organization needs money in order to function normally and thrive in the business. You can do anything with more money and capital (In the good sense)
4. Power of enthusiasm and morale
The author says that a leader with high enthusiasm and morale or a person with more energy can achieve the other three factors easily. The most successful companies usually have a high energy level to keep the drive to grow more, set high targets, meeting deadlines, etc.
Decision making is one of the most important qualities of businessmen, entrepreneurs a leader. Making correct and timely decision will decide the future of a business.
The author says that a great leader has the qualities to take decision fast and correct ones so that the business may keep going.
Chanakya suggests that a business owner must attend to an urgent matter at once and should not postpone making decisions.
To become a great decision taker you can follow these tips
1. Don`t be afraid to make mistakes
When making a decision some can go right and some can go wrong. the author says not to be afraid to take decisions if one of them fails.
2.Set up a time frame
You have to set some deadline to make a decision otherwise you will just spend time thinking about it. Give yourself time to think but take action after the deadline.
3. Encourage others to take decisions
If you are a business owner, you have a million things to do in a day and if you have to take every decision in the company from small to big. You will get exhausted and waste your time. Instead, encourage others to take a decision, so that you can have time to perform other tasks and also it can reduce your stress.
3. Game Theory
In this world of competition, it is easy to get left behind. The competition will always make things harder for you but it can also become a good growth stimulator.
To benefit from the competition the author says to use these tips
1. Study the competition very well
You should study the competition in detail, figuring out its strength and weakness and apply what you learn to your business.
2. Practice well
If you have a strategy to gain market share from your competitors. Don`t be hasty and go all in. You have to experiment first and gather information. You have to prepare for the main strategy if you want to succeed at it.
3. Know the rules of the game
A great leader knows what game he is in and what are the rules to play the game. The rules are the framework in which you conduct your business in day-to-day affairs.
If you know the rules you can change them so they will work in your favor.
4. Growing Under a Mentor
The author says that having a mentor to guide you is very helpful in your business. A mentor can show you different aspects that you were never aware of.
The author says to associate with a mentor so that you can develop the mindset required for the job and the wisdom from him. He also says to keep learning and applying whatever you learn from the mentor.
This is the end of the summary of Corporate Chanakya.