Tata Group seems to be on the cusp of a transformation. What is it all about?
When I started in 2017, I had said that brand, trust, standard and heritage are the biggest strengths of the group. And whenever you have a group which has such a large presence and strong history of more than 150 years, you should expect that there will be complexity. So, I had proposed a strategy of simplification, synergy and scale. We evaluated the number of entities and their businesses. Besides, we focused on balance sheet fitness and financial returns.
Simplification resulted in the creation of 10 clusters. Then we started taking the cluster-specific approach and brought in synergy. We looked at how coming together of group companies can create significant capabilities in products and services and generate value for shareholders. Then we decided the core business and on scaling the core.
How do you plan to pivot the group?
There are several key trends that are going to be very important as we go into the future. The first one is ‘Digital Everywhere’. Every company, whether it is a manufacturer or a services firm, B2B or a B2C, will be driven by AI, data analytics, Cloud computing and machine learning.
The second is sustainability. Every company will have to be sustainable. They will have to go beyond zero net debts.
Third, every business and industry is becoming an ecosystem. It is not that you can create a product and then try to sell it. You have to stop with the customer to understand his/her needs.
And the fourth, the supply chain globally is getting rebalanced. In the past, supply chains used to focus on efficiency, but now they have to be resilient, which means tough and elastic.
This story is from the March 07, 2021 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 07, 2021 edition of Business Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
PMS Vs MF The Big Fight
How do mutual funds and portfolio management services match up? Know the score on structure, rules, entry fees, charges, and tax perks to pick the right path for your financial journey
Four Levers Of Enterprise AI Strategy
Wide-scale private sector AI deployment and new AI-based business opportunities and ecosystems can truly supercharge the Indian economy
"Don't let a unique chance slip by"
JEFF MAGGIONCALDA | CHIEF EXECUTIVE OFFICER | COURSERA
THE INCOMING DISRUPTION
The disruption in the industrial sector is still unknown, but inevitable. Companies need to wake up
THE WHEEL WHISPERER
For Manan Shah, Managing Director of MICL Group, luxury cars are not about showcasing one's wealth or status. It is about personal well-being
TRIPPING WITH TECH
A road trip is an adventure like no other. While you take in the experience, get some peace of mind with these nifty gadgets
Transforming Spaces
WHETHER YOU WANT TO REDECORATE YOUR BEDROOM OR HALLWAY, A GORGEOUS WALLPAPER ADDS FLAIR TO YOUR HOME AND ALLOWS YOU TO STAMP YOUR STYLE IN YOUR NEW ABODE
ALPHATALE
MONEY MANAGERS TO THE AFFLUENT DELIVERED ROBUST RETURNS TO INVESTORS IN THE PAST YEAR, THANKS TO THE BUOYANCY IN THE MARKETS. BUSINESS TODAY DECODES THEIR STRATEGY
"THE ALTERNATIVES SPACE CAN GROW 3X IN FIVE YEARS"
Vikaas M. Sachdeva, MD of Sundaram Alternates, talks about where India's alternative investment industry is headed
"ALWAYS BE DATA-DRIVEN WHILE INVESTING"
First Global's Founder and CMD Devina Mehra on her company's PMS outperformance, technology and industry