In the fast-paced world of business, few leaders stand out as beacons of innovation and efficiency. One such luminary is Krishna Kumar Sethuraman, whose illustrious career spans over three decades in various industries, including pharmaceuticals and renewable energy. In a recent interview on the Industry Magnet channel, Sethuraman shared his journey, insights, and strategic initiatives that have driven significant results in his career.
Krishna Kumar Sethuraman: Journey Through Sales and Leadership
Sethuraman’s career began in 1991, rooted in the world of sales. He describes his early experiences as foundational, where building customer relationships and achieving targets taught him the essence of salesmanship. By 1999, he had transitioned into management, rapidly climbing the corporate ladder due to his decisive actions and strategic mindset.
Reflecting on his career, Sethuraman highlighted three pivotal strategic steps that contributed to his success:
Building a Winning Team in Cardiology: In 2005, while leading a launch for a new cardiology division in Andhra Pradesh, Sethuraman faced the challenge of establishing credibility in a new market segment. He responded by assembling a specialized sales team trained to communicate complex medical information effectively. This empowered them to engage with top cardiologists, ultimately securing a top-ten position in the market within two years.
Aligning Strategies for Brand Building: During his tenure at a Bombay-based pharmaceutical company, Sethuraman orchestrated a major shift in strategy focused on brand building. By fostering a young, energetic team and implementing innovative training methods, they achieved a remarkable ranking among the top 300 in the Indian pharmaceutical market by 2009.
Enhancing Operational Efficiency: At another pharmaceutical company, Sethuraman managed a large team and aimed to streamline operations. He restructured the organization, introduced key performance indicators, and utilized technology to enhance efficiency. These changes led to a significant profit increase of 17% within a short period.
The Leap to Renewable Energy
After two decades in pharmaceuticals, Sethuraman co-founded Costpro Energy, driven by a desire to explore new opportunities. His passion for innovation was fueled by reading influential books, including "Good to Great" by Jim Collins and "Connect the Dots" by Kiran Bedi. Recognizing the emerging LED market in India, he conducted thorough market research and identified gaps where he could provide value. Under his leadership, Costpro Energy gained recognition as one of the top startups in the electronic sector.
Sethuraman emphasized the importance of quality products and customer education, noting that understanding the differences between good and bad LED lights was essential for retailers and consumers alike. This strategy paid off, with the company selling 24 crores of bulbs in the Indian market and capturing a significant share.
Embracing ESG and Corporate Governance
Sethuraman’s interest in environmental, social, and governance (ESG) principles has grown in recent years. He believes that integrating ESG into corporate strategies is vital for sustainable growth and innovation. As companies increasingly focus on these values, he envisions a landscape where foreign investments and collaborations will flourish, propelling India’s economic development.
The Role of Technology in Business Strategy
With the rise of technologies such as AI, IoT, and big data, Sethuraman stressed that while these tools can enhance operational efficiency, they should complement core business strategies rather than define them. Technology, he argues, should serve as a catalyst for executing existing strategies, ensuring that companies remain agile and responsive to market demands.
Building a Knowledge-Sharing Community
Sethuraman expressed admiration for initiatives like the FaceTime with Leaders platform, which connects industry veterans and promotes knowledge sharing. He believes that such gatherings not only inspire future leaders but also contribute significantly to the economic growth of India.
Conclusion
Krishna Kumar Sethuraman’s journey is a testament to the power of strategic thinking, innovation, and leadership in driving results across diverse industries. His insights serve as valuable lessons for aspiring leaders, emphasizing the importance of building competent teams, aligning strategies, and embracing new technologies and sustainable practices. As we continue to navigate an ever-evolving business landscape, the wisdom shared by leaders like Sethuraman will undoubtedly inspire the next generation of innovators and changemakers.
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