Future Generali

How can organizations smoothen the transformation process from product-based to service-based model?

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Rakesh Wadhwa:

Businesses or business models are transforming from product-based model to service-based model. What organizations can do to ensure that the workforce adopts these service-based model?

 

Rajshree R:

At TCS we have a thought leadership framework that has three important elements. So we talk about being purpose-driven, we talk about being resilient and adaptable. So these are characteristics that we talk about from an organization standpoint, we've talked enough about resilience and adaptability, but the purpose is very important. Again, this pandemic has taught us that companies who are very cantered around the purpose have actually done better. Or they are in a position to try it better in the future. Customers like God for us. The ability to use technology, to transform businesses and countries is very close to who we are, and that really motivated and brought the company together. We knew that the stock exchange has had to work, We knew that retailers had to open shops, we know the new drug discovery had to continue. And that centrality of purpose, what is what kept us going and is going to keep us going for the future. We've seen this in many cases. We've had companies which have now become from drug manufacturers to healthcare companies, which have gone from, let's say being an electronics retailer, to a technology partner.

We've seen multiple examples and there's a lot of literature we published on the concept of being purpose-driven. If I say that I'm your financial advisor, then the way you look at your company, the way you look at your associates and employees goes through a complete 360-degree transformation. So I would say keeping a company purpose centric will definitely help.

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