- October 5, 2012
October 3, 2012-Nathan India was among 28 firms considered for the prestigious Porter Prize, awarded for the first time in India this year. Named after Harvard professor Michael Porter, the prize recognizes outstanding achievement in business strategy and competition in 16 industries, from finance, banking and insurance to automobiles to textiles and apparel. Entrants classify themselves and Nathan India chose the category of “information, telecom, and data processing” as the best fit for its economic consulting services.
The prize application, vetting, and award process in India was sponsored by the Institute for Competitiveness, part of a network of organizations affiliated with Harvard’s Institute for Strategy and Competitiveness.
Entrants went through a three-stage vetting process that included detailed written applications and personal interviews. A portion of the institute’s interview of Nathan India’s director, Dr. Ram Tamara, is posted on youtube.
The Porter Prize carries no monetary benefit but singles out for praise firms that embody an innovative and disciplined approach to strategic management in highly competitive markets. The application process itself makes firms aware of their competitive principles by forcing them to answer such questions as
- Are we delivering a unique value proposition that is different from others?
- Have we maintained strategic continuity over time?
- Have we innovated in ways that enable the strategy?
- Have we sustained superior profitability?
In his interview, Dr. Tamara describes how the application process helped Nathan India articulate its “key contributions” in treading a new path, in India’s dynamic market. In contrast to many other entrants, Nathan India is a very young firm and very new to India’s market. More than 100 firms applied for the Porter Prize, 28 made the shortlist, and 7 were awarded prizes.