Strategic Business Lessons for Corporates from IPL
Image Source: twitter.com/IPL
Image Source: twitter.com/IPL
Patience is Key to Your SuccessÂ
The team owners often observe their competitors fight aggressively for a player but keep money in their wallets so that they can bid when their desired player comes to the auction.
Image Source: twitter.com/IPL
Image Source: twitter.com/IPL
Spend the Money Wisely
Instead of crying over the tight budget, make sure that you spend it smartly. Year after year, we have seen multiple franchises spend cautiously on unknown players and they get the job done very well.
Image Source: twitter.com/IPL
Image Source: twitter.com/IPL
Diversity is the Key
Teams with capable all-rounders ended up lifting trophies. Often neglected, team balance is vital to building a great team as dissimilar attributes bring diversity with all its added advantages like a range of strengths and a wealth of ideas.
Image Source: Mumbai Indians. Photo: PTI via business-standard.com
Image Source: Mumbai Indians. Photo: PTI via business-standard.com
Flexibility Equals Survival
Some teams are using their best performers in the IPL in a limited manner and giving opportunities to young players. The important aspect to note here is that you need to be open to experiments. Stability is good, but flexibility is the key to survival.
Image Source: Twitter/Delhi Capitals
Image Source: Twitter/Delhi Capitals
Apart from entertainment, IPL teams can give one serious business lessons.
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