A Fund Manager's analysis of Narendra Modi's strategy
There is a not well understood competitive dynamic called ‘counter-positioning’, primarily because it is so contrarian that most people do not think of it as a natural course. It involves doing something that is very far away/ and often opposite of the strategies that have delivered incredible success to the incumbents. As such, this strategy is seen in action most often when the incumbents appear invincible by conventional metrics. How many of us remember someone or the other saying “BJP will never, ever win a majority!”. To create something new is beset with several challenges, and often happens when circumstances are in a flux, technological change, changing demographics, changing aspirations, changing geopolitics etc. To leverage this and successfully counter-position, requires three characteristics: 1) An upstart (Modi), who develops a superior, heterodox model (development + Hindutva) 2) The model has the ability to challenge entrenched players (Congress+, i.e., appeasement,