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March 17-30, 2014
`30RNI No.35850/80; Reg. No. MH/MR/South-82/2012-14 TN/CH(C)250/2012-14; Published on: Every alternate M...
u 74 u
March 17-30, 2014
Business India u the maga zine of the cor por ate wor ldColumn
Are you tech-savvy?
Business leade...
u 75 u
March 17-30, 2014
Business India u the maga zine of the cor por ate wor ld Column
long-term business strategies. Bu...
Are you Tech-Savvy - Business India (March 2014)
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Are you Tech-Savvy - Business India (March 2014)

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Are you tech-savvy? Business leaders need to be able to use it in varied applications Current and emerging digital technology has created a paradigm shift in improving productivity, reducing cost, improving quality and in innovation of new products. This technology is increasingly being sourced from the ‘Cloud’, transforming the business world by deploying relevant and emerging dig- ital hardware and software to the products and services that a company offers. Business strategy is being increasingly leveraged by ‘Tech-Savvy’ skills to be competitive and successful.

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Transcript of "Are you Tech-Savvy - Business India (March 2014)"

  1. 1. March 17-30, 2014 `30RNI No.35850/80; Reg. No. MH/MR/South-82/2012-14 TN/CH(C)250/2012-14; Published on: Every alternate Monday; Posted at Patrika Channel Sorting office, Mumbai-400001 on every alternate Monday-Tuesday Elections 2014 The biggest event n Ncd issuances n kajaria ceramics n Rg stone U&l n Investing in F&B
  2. 2. u 74 u March 17-30, 2014 Business India u the maga zine of the cor por ate wor ldColumn Are you tech-savvy? Business leaders need to be able to use it in varied applications C urrent and emerging digital technology has created a paradigm shift in improv- ing productivity, reducing cost, improv- ing quality and in innovation of new products. This technology is increasingly being sourced from the ‘Cloud’, transforming the business world by deploying relevant and emerging dig- ital hardware and software to the products and services that a company offers. Business strategy is being increasingly leveraged by ‘Tech-Savvy’ skills to be competitive and successful. The likes of Infosys and tcs focussed on pro- viding it services in the past are no longer in the leading edge of technology. A new generation of large and small ‘tech savvy’ organisations is mak- ing the headlines today. An example is rivokids, started by two tech-savvy Indian moms in the US. On the world stage, Google stands out for successfully demonstrating how business strat- egy leveraged by technology can create a $50 bil- lion corporation in the short span of 10 years. Technology-based innovations of Google are numerous that have revolutionised ‘search’. Indian corporations have no option but to globalise to survive and succeed, given the onslaught of globalised companies on the home turf from all over the world and notably from the US, China, Japan and South Korea. In previous columns, we had reviewed two of the six com- petencies needed for creating a successful and integrated globalised company – ‘global mind- set’ and ‘towards cross cultural competency’. The others are tech savvy, partnering skills, collaborative leadership and connectivity. What is tech-savvy in the context of being a successful leader of a globalised company? Con- sider some of the leading companies that have leveraged technology to achieve a pre-emi- nent status in the globalised world. Apple, ibm, ge, Toyota and Facebook are good examples. Steve Jobs, founder and ceo of Apple, stretched existing and emerging technologies leading to innovative products that brought about a mon- umental change in consumer behaviour. The iPod, iPhone and iPad were game changers. No wonder Apple is the largest globally capitalised company, though now facing stiff competition from competitors. Lou Gerstner is credited for macro level change in ibm from being a manufacturer of large frame computers to becoming a solu- tions provider by recognising then emerging technologies. Wall Street had written off ibm, when the company emerged as a global leader illustrating how business can be transformed by linking strategy with technology. This strategy has gathered steam and the stated vision of ibm is to build a ‘Smarter Planet’ by basing decisions on data and analytics located in the ‘Cloud’ and not instinct, interconnecting a social world and conducting business not in the office but where the customers are. Pedrix, a software program for the industria- lised Internet from ge optimises operations and assets by combining technologies. The program is site-based or in the ‘Cloud’. ge has stated it as a platform for enabling industrial scale ana- lytics and operations, by providing a standard way for gaining new efficiency and improving productivity, quality and reducing manufac- turing costs by online collaboration of humans and machines. ge is now using software for jet engine manufacture and performance that self corrects without human intervention. Toyota innovated by leveraging technology to create the first commercially successful hybrid vehicle, Prius, years ahead of competi- tion. In 2011, the company was in a major cri- sis scenario emanating from quality and styling issues. In the last about four years, the company has rebounded as a front runner in quality and styling of new cars leveraged by increasing r&d expenditure with greater allocation to digitalisa- tion tools. It is slated to be the first among peers to launch the fuel cell car soon. Facebook transformed social networking worldwide within a few years and has soaring advertising dollars promoting brand names like never before. It is reported that India has the second largest Facebook users, second only to the US. Consider how digital technology is bring- ing about a paradigm change in products and services. Innovation is a key beneficiary of the new enabling technologies across a spectrum of industries from it to healthcare. Mining of enormous amount of data, applicable business intelligence software and cloud based tech- nology is the enabler for determining business strategy choices. Digital simulation for development of new drugs by pharmaceutical companies is reducing cost and time cycles. More efficient Dinesh Chandra (co-founder), Vibhay Sinha (senior consulting partner), Avish Dahiya (co-founder), dna Global Network (www. globalnetwork. com), a management consulting firm specialising in globalisation and located in San Jose, CA, USA D i n e s h C h a n d r a V i b h a y S i n h a Av i s h D a h i y a
  3. 3. u 75 u March 17-30, 2014 Business India u the maga zine of the cor por ate wor ld Column long-term business strategies. Business intelli- gence and analytics enable monitoring of oper- ating parameters online and also provide data to make course changes as may be required for short- and long-term considerations. Consider the scenario for Indian business. Younger organisations and younger leaders have mostly embraced technology for strategic busi- ness direction. Some of the established larger cor- porations have also recognised and implemented capable in-house it departments and others face this challenge. The leaders of all organisations would benefit by making efforts to be tech-savvy. To do so, will help penetrating and insightful management of technology and ensure that the corporation is globally competitive. Our recommendations are: u Implement higher share of r&d expenses to the new and emerging software and hardware relevant to your products and services. u Employ senior tech-savvy individuals that can complement your existing team. Encourage employees at all levels to use technology in their respective roles. u Remember that, while you may be improv- ing organisational abilities in digital tools, your competition is also in the race to do likewise and therefore track and anticipate their moves. u implementation of large investment projects by digitisation techniques is adding to the tra- ditional project management skills. Healthcare companies are analysing customer data to deter- mine disease prevention that might lead to lower insurance costs. The fundamental is that business leaders need to be aware of the growing need to be tech-savvy. Being tech savvy in the widest sense is the abil- ity and curiosity to use it in varied applications. This does not necessarily mean that they should be experts of the latest gadgets. However, they must be aware of, comprehend and embrace the potential of the cutting-edge, new and emerg- ing technologies that can impact current and future competitive positioning of their busi- ness. Additionally, across the corporation and at all levels these technologies must be encouraged to gain competitive advantage of cost, quality and innovation. It helps if the leader is using illustrative items such as e-mails/instant messaging, group mind, online banking, social networking sites like Facebook, audio and video conferencing, Skype, Linked-in and smartphones with the built-in and available applicable apps. This will help to be on a continuous learning curve of the Inter- net, hardware, software and associated tech- nologies that can help determine short- and YES! Enter my subscription to AUTO INDIA (Rs 50 cover price) Mail the coupon to: AUTO INDIA – THE BUSINESS INDIA PUBLICATIONS LTD. 1 & Regent Chambers, Nariman Point, Mumbai 400 021. Tel: 40947100 E-mail: subs@businessindiagroup.com Please add `20 for cheques not drawn on a Mumbai bank and allow 28 days for delivery. * (Money-back guarantee in full if you decide to cancel your subscription within 3 months). The magazine(s) should be mailed to: Name: _______________________________________________________________ Address: ______________________________________________________________ City: ______________ Pin: ____________ State: __________ Country: ____________ Email: ________________________________________________________________ My cheque/DD No.: ________________________ Dated: _______________________ for `: ____________________ drawn on ________________________________ in favour of BIPL A/c ‘Auto India’ is enclosed herewith. OR, please charge my credit card: Visa Mastercard Amex for Rs. ___________ Card Number: Card Member’s Name: ____________________________________________________ Date of Birth: ________________________ Card Expiry Date: ___________________ Card Member’s Tel: ____________________ Subscriber’s Tel: ____________________ Signature: ___________________________ Date: ____________________________ INLAND SUBSCRIPTION RATES Number of issues Newsstand price YOU PAY only YOU SAVE 60 (5 years) `3,000 `1,440* `1,560 36 (3 years) `1,800 `990* `810 24 (2 years) `1,200 `750* `450 12 (1 year) ` 600 `420* `180 OVERSEAS SUBSCRIPTION RATES Pakistan All other Countries 12 (1 year) Indian `2,200 orUS $ 45 Indian `2,500 orUS $ 55 Subscription DON’T MISS OUT ON THE ACTION! SUBSCRIBE TO INDIA’S BEST SELLING AUTO MAG EVER! Savings upto 52%

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