Product services, not product may be new way ahead: HCL

Reinventing every 18 months is very important, says Vineet Nayar, vice-chairman and joint MD, HCL Technologies . He says, HCL junks its own business models and gets to new markets.

Going ahead, product is going to be packaged as part of the service and is going to be offered on a per user per month, per usage basis. "I am not convinced about product being the right way because product services may be a new way," Nayar says.

Also Read: Focus now on under-penetrated infra services: HCL Tech

Below is the verbatim transcript of Vineet Nayar's interview on CNBC-TV18

Q: You started by saying that life is all about chances and choices. A choice that you have made, that's gone horribly wrong and a choice that you have made that's turned into a billion dollar opportunity?

A: I was talking about this bank that we walked away from. I think it was a wrong choice because it virtually closed down the dream of many people and we came very close to being gone with it.

Q: Was it ego that got in the way?

A: I think it was a big ego. When you are young and I was very young at that time. I think it was ego rationalised into business decision.

The bet which went fantastically well is we always were clear that we have to reinvent ourselves every 18 months. So, we will junk our own business models and get to new markets. In that process we discovered this concept called the remote infrastructure management.

So, we were an extremely successful Indian enterprise doing this satellite business and we stopped doing it and we started searching for new ideas and that's how we searched remote infrastructure management and that idea lead us to a billion dollars.

Q: How much of business is actually testosterone driven and ego driven?

A: Ego plays a very large role in decision making unfortunately. The best thing you can do is to be very far away from decisions.

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