Small and Medium Enterprises (SMEs) are the backbone of global economic activity. In emerging economies, SMEs account for over 90% of firms, 60-70% of employment and 55% of GDP. In fact, in India, SMEs contribute more than 8% of the country’s GDP and account for 45% of the manufactured output and 40% of exports. However, the growth of SMEs, especially in India and other emerging countries has slowed down over the last few years. As I see it, a good number of these companies — as enterprising as they may be — are unable to transcend the barrier of scale. Improving the scalability, performance, and sustainability of SMEs can help achieve the economic growth that is sustainable and truly global. Advisories that can solve the key issues faced by these firms — lack of short and long term growth strategy, lack of efficient marketing and sales practices, and lack of exposure to industry best practices and new technologies — are the McKinseys and the BCGs that only multi-million dollar companies can afford.
My dream is to start a low-cost strategy-consulting firm that will provide advisory solutions to SMEs in emerging economies. I hope that through my initiative I will be able to create growth stories for quite a few SMEs and eventually contribute in a small way by strengthening global economy and changing the life of a few thousand people for better.
My work experience at Keane, a US-based $1 billion IT services firm, exposed me to operational side of IT such as business requirement gathering, application designing, and application development. Later at McKinsey & Co., with its Global IT Services division, I worked on a few critical and high-impact projects that exposed me to strategic side of IT such as the importance of efficient and effective IT implementation and the impact of continuous service improvement on an organization. This experience along with my engineering background has helped me develop a sense of appreciation for the role technology plays in the growth of organizations and economy as a whole — a quality that will help me to resolve one of the key issues, lack of or inefficient use of technology, faced by SMEs.
Immediately after my MBA, I would like to work for a global consulting firm like McKinsey in “Strategy” functional practice that provides strategic solutions to companies working out of developed as well as emerging economies. This consultant role will expose me to various strategic and multi-disciplinary business problems and best practices of multiple industries outside of IT. Through this experience, I wish to become an expert in select functions and industries. This expertise will help me decide which industries and functions my consulting firm would focus on initially.
By moving up the ladder in a consulting firm, I will learn how to manage consulting engagements. I will also get involved in and understand intricacies of business development, talent acquisition, and talent retention activities. These activities will...