The book introduces 9 development strategies for businesses in the era of change and innovation
The Covid 19 pandemic has caused a series of shutdowns in the global economy. In the global supply chain of “the right product – in the right quantity – at the right place – at the right time” many large enterprises have been unable to find alternative sources of raw materials for weeks or even months. , causing production and business activities to stop, causing serious economic losses; Not to mention the impact of other economic and political crises…
However, in that context, there are still businesses that create outstanding values not only for shareholders but also for all stakeholders.
From the story of TCS
TCS was founded in 1968 as part of the Tata Group and quickly became a global company. TCS thrived during the last years of the twentieth century by competing on scale, cost advantages, automation, a focus on intellectual property development, and a lean factory model that the company can afford. pioneer company. By 2001, TCS had become a great company by traditional definition, profit margins close to 30% on $690 million in sales.
TCS should have been hit hard by the global financial crisis, especially as economic growth falters in India and the company’s economies of scale could be undermined by the supply model. industrialized software service providers.
But in reality, TCS has maintained its growth, not because they have doubled down on the strategies that made them great, but because they have found new ones.
Over the past two decades, the company has continuously transformed to keep up with the drastic changes in its surroundings and become more resilient and sustainable. The fruits of this effort are particularly evident in 2020, when TCS can continue to operate with minimal disruption during the COVID-19 pandemic.
TCS has redefined its relationship with its customers, providing a diverse portfolio of services combined with the most advanced technologies, no matter where they are located in the world.
The company has transformed its large-scale, cost-effective distribution network abroad (which it pioneered) with a new, more flexible global distribution model that includes cost-effective facilities. medium and high fees are located near customers in more developed markets, all connected via a cloud computing system. This new distribution network not only provides customers with more cost-related options, but also helps to reduce risk – because if problems arise in one area, the entire network will still function. normal movement.
TCS has also “serviced” its products; Instead of providing a single type of service, the company offers customized solutions that cover a wide range of technologies and are geared towards specific business outcomes. From the very beginning, TCS has always been determined to pursue a multi-stakeholder goal by using state-of-the-art technology to create change for local communities around the world.
TCS’s continuous and diversified transformation efforts, coupled with its determination to make a positive contribution to society, have enabled the company to deliver and maintain outstanding value for its shareholders. Between 2009 and 2020, the company’s market capitalization increased more than 10 times, reaching a peak of more than $120 billion. By 2020, TCS has the largest market capitalization of any global IT services company, in the same league as IBM and Accenture despite much lower revenue.
Go to John Deere
Agriculture is one of mankind’s oldest productive industries. It is also one of the most complex industries when the success or failure of farmers depends on changes in weather conditions, soil as well as many other factors such as fertilizers, irrigation water, pesticides. depth, planting techniques…
Fortunately, data can help make many of the right decisions, allowing farmers to maximize profits on an acre of cultivated land. By some estimates, the market for agricultural data analytics will reach $1.2 billion by 2023.
Suppliers inside and outside the agricultural sector have engineered solutions that use data to help farmers make better decisions and optimize profits. Through simple applications on the phone, farmers can monitor weather patterns, soil conditions… and then decide to take action to reduce risks to crops and improve yields.
If operating in this field, the unit that wants to be first cannot beat the competition simply by providing the best products and services. They need to be a constant source of useful new solutions for farmers. John Deere, the world’s largest producer of farm equipment, was one of the first in the industry to embrace this requirement.
In 2012, the company implemented the digital platform MyJohnDeere, later upgraded to the John Deere Operations Center, allowing farmers to observe all activities taking place on each acre of farm land, manage, improve performance indicators through smartphones and other digital devices; thereby maximizing farm profits.
To bring more value to farmers, John Deere also established a presence in Silicon Valley, built a lab, bought the startup Blue River Technology, to access digital talent and Always up to date with the latest innovations. The company also builds a platform that allows farmers around the world to store, exchange data, advise on planning in the most accurate and effective way…
And the book “Beyond Greatness”
Through true stories of businesses like TCS, John Deere and dozens of other businesses like Rolls-Royce, Siemens, Microsoft, Xiaomi, Fitbit, Adidas… “Beyond greatness” gives a sharp look on the unprecedented challenges transforming globalization, including economic nationalism; the explosion of data flows and e-commerce; the rise of China; growing concerns about capitalism and the environment; and the formation of borderless electronically connected customer communities. From there, the authors offer nine strategies to help today’s businesses address and exploit these challenging factors.
“Beyond Greatness” answers two fundamental questions facing business leaders today in a world shaped by difficult and disruptive technological, economic and social change. break. First, what is the standout performance in this new volatile era? Second, how do we build competitive advantage in a world of new and often volatile rules?
“Beyond greatness” also shows that today’s leaders need to demonstrate a new kind of agility and agility, constantly adding new strategies and operating rules to facilitate change. new “ongoing”. Leaders also need to master a new set of principles about what it takes to “go global” and be “changeable” in a world full of contradictions, complexity, and nuances. .
Commenting on the book, Robert Greifeld, former President and CEO of NASDAQ writes: “Whether you’re running an industrial company, a bank, a media company, or a global stock index; “Beyond the top; greatness” remains the essential handbook to help you master organizational strategy and thrive, even in tough times.”
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