It’s a no-brainer that the world around us is changing fast. Consumerisation is rampant and instant gratification is the new normal. Individuals, Organisations, and Governments need to move at an agile pace to better adapt to these new market conditions. This is stretching organisations on multiple accounts and forcing business leaders to continuously fine-tune their existing processes and systems.
While market observers and other commentators have spoken at length about the need for organisations to collaborate and co-create, not many have gone beyond this obvious truth and explored what lies beyond collaboration. What is not very apparent to the naked eye is how economies of the world will behave in the future.
We at Greyhound Knowledge Group believe that businesses today cannot work in isolation and they need to start working towards the new-age economic scenario, which we call the collective economy. We believe that the collective economy will replace the collaborative economy. This move not only entails organisations exchanging data and intelligence with partner organisations within the microecosystems (we call this distributed intelligence), but aggregating, co-creating, and co-producing by tapping into the collective intelligence of organisations across different industries and countries. This, we believe, will define the future of economies, organisations, and governments. Although we have provided more guidance on this concept in the later sections of this workbook, we encourage you to reach out to us if you would like to chat more on this topic.
Insights shared in this workbook have been derived from our annual India Inc. Survey. As part of this year’s exercise, we reached out to 1,540 small, medium, and emerging large organisations across nine industries to better understand their operational challenges and priorities for the next financial year. At the end of each section, you will find a set of questions to use within your organisation to help spur change and inch closer to the collective economy.
India has an extremely dynamic economy and its companies boast some very promising business models. However, like businesses everywhere in the world, they need to change, and change now, in order to keep up with fast-paced transformation. The workbook has been exclusively designed after speaking with key decision-makers who were a part of our annual India Inc. Survey and belong to some of India’s high-growth sectors.
How will this Workbook help me?
We at Greyhound Knowledge Group reached out to 1,540 key decision-makers of emerging large and mid-market organisations to better understand the challenges on the ground and map their expectations for the next financial year. This workbook aims to help key decision-makers conduct a brief opportunity gap analysis of their current operations in their respective organisations. The workbook will help decision-makers identify challenges, benchmark them with industry peers, and more important, provide an indicative plan to participate in the collective economy.
Some questions that you should ask after reading this workbook include:
- Are my peer organisations also grappling with similar challenges?
- Are my peers in other organisations adopting, planning, or exploring emerging technologies to optimize their business functions?
- How is the government supporting ease of doing business?
- Do I need to reskill my people to better manage change? How are my peers benchmarking salaries?
- How do I develop a marketing ecosystem that is relevant for my business?
- How are my peers executing CSR initiatives and where are they spending?
Scope and Taxonomy
For the 2015-16 India Inc. Survey, we reached out to 1,540 decision-makers across nine high-growth verticals: manufacturing (process and discrete); wholesale, distribution, transport and logistics; infrastructure and real estate; professional services; health care and pharma; education; IT and ITeS; banking and financial institutions; and telecom, media, and entertainment.
The respondents interviewed were key decision-makers, such as owners and managing directors, CxOs, business heads, import/export managers, and production heads, among others.
For the purpose of the survey, we have categorised the enterprises based on two main criteria: annual turnover and employee strength. Appended below is the sample size of organisations we interviewed:
About The Author: Sanchit Vir Gogia is the Chief Analyst & CEO of Greyhound Research, an independent IT & Telecom Research & Advisory firm. He also serves as Chief Futurist, Founder & CEO of Greyhound Knowledge Group that operates under four brands – Greyhound Research, Greyhound Sculpt, Greyhound Technocrat and Greyhound Vivo. To read more about him, click here.
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