According to him, you can have innovation in strategy but keep the execution boring. Deviation in execution is not desirable, he said.
Chandrasekaran recommended prioritising fitness of one’s business over performance.
“You cannot just target growth rates if the organisation is not fit. The organisation has to be fit in multiple dimensions. If you are not capitalised properly, and if you have don’t have the structures in place, it doesn’t work,” he said.
While there may be short-term performance, but to be consistent, the overall fitness of the company is important. “If you don’t have the sight of cash flows at some point in time, it’s over,” he said.
He also advised business leaders and entrepreneurs on “running your own race and not be distracted by others”.
“We need to know what context my company is operating, what is my balance sheet, and what is the real strength and capability we have. That should set the pace. It’s important to create the capability that is required in the organisation. Then, you can decide the race you can run,” he said.