There was no single reason common to all. Corporate success is based on not just any single factor, there were so many factors involved in any corporate success. Each had its unique approach, their own way of adapting to the environment they operated in. Another interesting observation was, apart from microeconomic efforts on the companies' side, certain macroeconomic factors created conducive conditions for some companies to grow into gigantic proportions. Factors like globalization, opening up of the economy and support of political leaders were instrumental for their success.

There are several success stories in the Indian corporate world too. Many of them have proved that their corporate mettle is in no way inferior to that of global multinationals. Each company had charted its own path in pursuit of excellence to emerge successful. Some have grown to international size on domestic demand, whereas some have ventured abroad to discover an opportunity for them to grow and have succeeded in establishing themselves successfully there. Their strategies are interesting and absorbing.

Research has also revealed that there can be innumerable reasons for organizations to fail or succeed. The reason could be both internal and external factors contributing to the companies' success. Before globalization, the internal factors played a major role in corporate success. While post globalization, the external factors have played a major role in the corporate success. The internal factors are: Leadership and vision; Managerial excellence; Best practices; Innovation and quality; Brand image; Corporate culture and external factors are: Globalization; Economic growth; Government trade and policy reform; Technology changes; Changing consumer profile

Due to competition and dynamics of business, today businesses have become more challenging and complex. These complexities demand a dynamic leader, who has the vision to take an organization to the next level and create sustainable growth. To be successful, companies must invest in good leadership and management, in terms of defining their needs appropriately, hiring the right people, ensuring the right organizational structure, and creating a culture that promotes management and leadership within the organization. Research shows that the leaders, who possess the risk-taking ability and flexible thinking according to environmental changes, make success possible. For instance, Reliance's Dhirubhai Ambani and Bharti's Sunil Mittal have great vision and risk-taking ability and predictably it made both the corporates a successful venture in a short period of time. Infosys's Narayana Murthy and Wipro's Azim Premji are great examples for entrepreneurship, who have the acumen for finding new business opportunities and flexible thinking according to environmental changes. Leaders are supposed to promote leadership spirit in the corporate by challenging the set pattern and behavior of the corporate and by discovering innovative ways to maximize the assets of the corporate. To conclude, entrepreneurs can develop an environment conducive to trust in the organization that would help them obtain innovative ideas to build competitive advantage. Thus, by leveraging on innovation, they can create collective wealth for the organization as well as contribute to the growth of the country.

Global Ceo Magazine, Corporate Success Factors, Globalization, Macroeconomic Factors, Corporate Culture, Indian Corporate Sector, Total Quality Management, Information Systems, People Capability Maturity Model, PCMM, Global Market, Corporate Governance, Mass Production Technologies, Economic Policies.