Staying True To Value System Can Help In Navigating Through Challenges: Experts While discussing the electric vehicle sector, Rishabh Bhatia, Marketing Head, Servotech Power System highlighted the constant scrutiny and doubt faced by innovators.
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You need to surround yourself with your employees, partners, and stakeholders who believe in the purpose of the venture, said Sandeep Goel, MD, Moglix.
Emphasising the universal challenge of adhering to a purpose amidst external pressures, he likened the subject to a traffic scenario where drivers must choose between impatience and adherence to rules. "I may want to take a shortcut," he noted, "but when my children are in the car, I feel guilty if I break the rules." This analogy illustrates the importance of surrounding oneself with people who share the same values, thereby reinforcing one's commitment to purpose.
He was speaking at the 14th edition of Entrepreneur Summit 2024 at New Delhi's Bharath Mandapam.
He further elaborated on his company's journey, stating, "We have had three very clear decisions where we decided not to participate in randomness. It became stronger, and we are what we are today."
Atul Kumar, CEO, Physics Wallah seconded with Goel and discussed the necessity of values in driving an organisation. "Your team only values it if they see the evidence of it. By focusing on student engagement and feedback rather than purely financial metrics, the company has built a culture that prioritizes purpose over profit," he said.
He further stated, "The conviction needs to be there. This sentiment emphasizes the importance of aligning business metrics with the organization's core values."
Sharing the significance of a well-defined value system in fostering a strong organizational culture, Bir Singh, Co-founder & Chief Business Officer, Addverb said, "Our value system was quite simple." "Innovation, integrity, people connect, passion, courage, customer centricity—very simple," he added.
"If you are able to build a culture, then the battle is half won," Singh.
While discussing the electric vehicle sector, Rishabh Bhatia, Marketing Head, Servotech Power System highlighted the constant scrutiny and doubt faced by innovators. "Every time someone questions us, we ask, are we still doing what we set out to do? This commitment to staying true to their mission has been critical in navigating industry challenges," he said.
Reflecting on the role of sustainability in business, Hardik Jaisingh, Chief of Staff, Assiduus asked, "Are we giving back to the environment? Are we empowering underprivileged communities?" he emphasized that external factors are just as crucial as internal values.
The discussion underscored that building a purpose-led brand is not without its challenges. However, by prioritizing core values, fostering a supportive culture, and maintaining a commitment to sustainability, organizations can navigate these challenges effectively.
