A blueprint for sustainable growth
Changing consumption patterns, disintermediation, technology advancements, geopolitical tensions, and continued cost pressures are just some of the changes that businesses across the globe are witnessing today. Across geographies, sectors, and organizations, the wave of change is ushering in a reimagination of business models.
This is taking many forms, one common and powerful trend of which has been the emergence of ecosystems. With the flexibility that digital technologies enable, organizations are participating in ecosystems designed around a purpose that is much larger than what a traditional enterprise or industry silo can cater to. According to a study of 158 senior executives done by TCS, 83% of C-level executives believe that ecosystems are a high priority in meeting their business objectives and 58% leaders include ecosystems in their core strategy. An ecosystem strategy is also critical to becoming a sustainable enterprise.
We, at TCS, believe that in order to build, orchestrate, and participate in purposeful ecosystems, enterprises will need to genetically recode themselves to infuse agility and adaptability into their DNA. Such a helical enterprise is then robust yet agile and adaptive, modular yet closely knit. It is not only able to sense and respond to customer needs but also adept at building and orchestrating the entire ecosystem. The helical enterprise is ever-evolving, transforming, adaptive, and helps companies move to a sustainable growth model.
To be successful in the emerging future, organizations must reexamine long-standing ways of doing business and ingrained practices, becoming more agile, resilient, and purposeful with a strong focus on business innovation. This means approaching growth in a more holistic manner and designing a new organizing system by using technology effectively and ensuring that our collective well-being is greater than growth of individual entities.