Monday Motivation: Strategy without action has no meaning

The academics were on point for Pankaj Rana, a gold medallist in Bachelor of Technology from Kurukshetra University. But alongside grasping theoretical knowledge, his focus was always on gaining practical experience. It continues to be the norm even today.

“To ask whether something will actually work in the real world. I still apply it, whether we are discussing a product launch, a go-to market strategy or people decisions,” says Gurugram-based Rana, 45, CEO, Hisense India.

When he took on his current role in 2024, Rana’s first challenge was to bridge the brand awareness gap. Few of the major retailers and regional chains had a clear picture of what Hisense India had to offer. What worked even during those early days was his belief in the select-and-focus strategy.

“Last year, our entire focus was on building the television business channel, where we made some real inroads and experienced initial successes. This year, we are gradually building our air conditioner business,” he says.

“It is a deliberate, step-by-step progression. India is a vast and complex market, and if you spread yourself too thin, you end up doing nothing particularly well,” he adds.

Sustainability has been another important investment, given Hisense’s goal of carbon neutrality by 2050.

“We recently opened a factory where we want to generate our own electricity through solar energy and reduce dependence on the grid. We are also focussed on minimising industrial waste across operations and managing e-waste responsibly. Sustainability is a lens that should apply across manufacturing, supply chain, product design and how we engage with communities,” he says.

Rana talks to Mint about mentorship and cultivating the reading habit.

Who do you consider your mentor?

I worked with Manish Sharma, former chairman of Panasonic India, for 12 years. I continue to seek his perspective and learn from him. From my time at LG, the managing director taught me about how world class sales organisations function, how to structure reviews effectively and what it takes to build a great brand. Then, there were coaches like Saurabh Patil, and Gur Singh Shahpuri, who focussed on interpersonal skills, goal setting and long-term thinking. And Dinesh Kapoor, whom I’ve met just a few times but has left a lasting impression simply by asking—have you started managing your finances? That kind of a persistent and genuinely caring nudge can change the course of your life.

One major insight you worked on with your mentor's guidance?

There was a time when I was quite short-tempered. Through Sharma’s guidance, I realised there is a fine line between intensity and impatience. Working on it was not easy, but recognising it as a problem was the first and most important step.

What does being a mentor mean to you? How do you mentor your colleagues at work?

A mentor is someone who genuinely knows your strengths and weaknesses, and who cares enough to be honest about both. The real work of a mentor is helping you confront and overcome your weaknesses, particularly those that are limiting your ability to reach your potential. When I mentor colleagues, I focus on self-awareness, knowing where you are strong and where you have gaps; being future-ready by expanding your skill set; managing personal finances, because if you cannot manage your own money you cannot manage an organisation’s finances either; and taking care of health.

What’s your morning schedule like?

I exercise or go for walks at least 3-4 days. I genuinely enjoy that time since it sets a better tone for the day, rather than jumping straight into emails and meetings.

What are some of the productivity principles that have made your professional and personal life much easier?

If something is urgent, don’t delay it. On the flip side, I genuinely dislike procrastination, which has occasionally made me more anxious than necessary. So, I have been working on finding the right balance between urgency and calm. Ultimately, I am a person who loves execution. Planning is necessary but execution is where the energy is. Whatever strategy is developed, it has to translate into action to have any meaning.

What’s the one positive work routine you have developed during the pandemic?

Reading was one of my core hobbies while growing up. With the commutes gone and the schedule stripped back during the lockdown, I found my way back to books. I also watched a significant amount of TED Talks and podcasts. The habit of carving out dedicated time for reading and learning has stayed with me since.

Any book or podcast you would recommend about mentorship and growth?

Rich Dad, Poor Dad is essential reading for anyone who wants to understand the relationship between money, mindset and long-term thinking. It shaped my approach to personal finance, which is foundational to everything else. More broadly, I would encourage everyone to read consistently and widely. The goal is not to follow a prescribed reading list but to keep your mind engaged and open to new perspectives.

How do you unwind? Do you pursue any serious hobbies?

I represented Haryana as a fast bowler in my younger days and that connection has never really left me. I love watching and playing cricket, though the frequency has dropped as we have been building Hisense India. The other interest is Punjabi cinema and music. Even when I am on a flight, the first thing I do is check whether there is any new regional content available.

Monday Motivation is a series in which business leaders discuss their mentors and their work ethics.

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