As the idea of “normal” enters a grey area, we ask diverse leaders for their mantras on driving radical growth.
Change is such a constant in today’s dynamic business environments, that many companies find themselves in a state of flux, one that is often endless. It is a cycle without end, which perhaps forces organisations and leaders to face up to the harsh truth; that the pace of change is so relentless, that as one stage of redesign comes to an end, another redesign is necessary to meet previously unforeseen demands.
So how do leaders and organisations move away from this cycle of churn that is seemingly interminable, this business treadmill with no end in sight? We sat down with a series of seasoned industry practitioners to get a ringside seat into understanding how they approach the task of building businesses while staying true to their principles.
“Post-pandemic, many customer-centric brands have started focusing on “Phygital” experiences by making use of technology. The core value proposition seems to have changed with regard to their offerings and experience towards delivery. One of the best ways to improve brand recall is by handling customers with empathy, especially at the time of claims settlement. When we help a person in distress, they remember us forever. Word of mouth from existing customers who have experienced our service helps us.”
Cholamandalam MS General Insurance Company Ltd
Technological advancements and innovations have made sweeping changes across all sectors since the turn of the millennium. Along with it, the changes in consumer behaviour and requirements has also taken a big swing, be it in terms of product choices, brand preferences, buying patterns, et al. From a business standpoint, the textile industry has been transformed by the advent of newer technologies, super-efficient machinery, vast supply chains, multiple sales channels and effective digital marketing tools.
Consumer behaviour is today focused on sustainability, exclusivity, and something that makes them feel safe. Doctor Towels has identified and addressed all of this with an innovative approach, factoring in constantly changing consumer behaviour.”
Annie Vanjinath & Vanjinath G.
Co-founders, Doctor Towels
“Ecosystems have proven to be a powerful force in disrupting established categories. And healthcare ecosystems have tremendous potential to offer improved health outcomes by delivering personalized and integrated experiences to patients. The next wave in healthcare innovation could very well emerge from these evolving ecosystems with a significant focus on intelligence, infrastructure and engagement components. Future healthcare ecosystems will be defined by understanding the needs of patients and analysing their associated effective care journeys. From connecting consumers with traditional systems of care, to leveraging support services, integrating home and virtual care services, to supporting payment and financing, these ecosystems will include every touchpoint of a patient’s healthcare journey. Each of these services and capabilities will eventually contribute to an exhaustive patient journey with end-to-end support from healthcare providers. I believe appropriate patient support can help them through the onboarding and initial treatment period, improve long-term adherence to medication, and ultimately deliver better health outcomes.”
Chief Marketing Officer
“We have taken a 3C (Customer, Capabilities, Creation of Value) approach to understand what is important for our Customers and think ahead of the curve, build Capabilities in terms of physical and digital infrastructure, focused investments and partnerships, and Create Value with an asset-light, digital first approach that prioritizes catering to requirements of multiple stakeholders.
Growth is in our DNA, and we have grown faster than the industry and most of our peers consistently, through well-timed organic and inorganic expansion, and rapid adoption and scaling up of digital capabilities.”
Suresh Kumar Ramiah
CEO, Allcargo Logistics
“The BFSI industry is pacing up its transformation journey to deliver hyper-personalised solutions to its customers. It has embraced digital evolution, moving from human intensive brick-and-mortar processes to time and cost-efficient automated services. The synergy of AI, Big Data, and Data Analytics offer meaningful business intelligence to implement superior data management. The overall adoption of technology has enabled us to reduce lending risk and provide a superior customer experience. It has helped us adopt insight-driven lending, paving the way to cater to various white spaces and build a sustained profitable enterprise.”
MD & CEO
Avanse Financial Services
“We are the pioneers of electric vehicle technology in India, with an established track record of launching successful products that transformed the last mile industry. This understanding of the market and consumer coupled with vehicle level data gives us a competitive advantage. We are committed towards continuous improvement and innovation through use of advanced technology at a vehicle and business model level. Our rigorous focus on validation of our vehicles in real world conditions combined with the brand trust of Mahindra differentiates us from competition.”
CEO, Mahindra Electric Mobility Limited