The exponential growth of digital content and increasing number of youngsters accessing information directly on their mobile phones, have led most corporate entities including Hindustan Unilever to adapt to the changing requirements.
“This is no longer an option but a necessity. Unless companies look at this and address the new generation who are accessing media and content on Facebook and using social networks and Twitter, companies will miss out,” according to Harish Manwani, Chief Operating Officer of global FMCG major Unilever and Chairman of HUL.
Speaking to students at the Indian School of Business here, the Unilever top executive shared his experiences and outlined how business landscape is rapidly changing.
He said the today’s smartphone has more processing power than all computers put together at NASA four decades ago.
Sharing his experiences as a top marketing professional, he said, “Unless the products have local appeal, we cannot succeed. If you look at what Unilever does, we are global, but extremely local. We are close to what consumers want.”
The Unilever Group, which has over 1,70,000 employees, and operates out of 190 countries and serves more than 2 billion people through 400 brands, is close to customers and understands their requirements and concerns. This is extremely important. Therefore, the entire business is built on this trust and making the business sustainable, he explained.
Referring their global business, he said developing markets contribute to about 55 per cent of their global business. And the way business is shaping up globally, Asia will be next big business opportunity possibly outpacing US and the European Union put together. Therefore, MNCs need to address the challenges associated with such a shift, he said.
rishikumar.vundi@thehindu.co.in