Tata Consultancy Services\u2019 2021 Global Leadership Study Examines How Top Leaders of Large Global Enterprises Have Recalibrated their Organizational Strategies for the More Digital Decade Ahead.<\/p>\n\n\n\n
Kyiv. Ukraine. Ukraine Gate \u2013 September 01, 2021 \u2013 Economy<\/p>\n\n\n\n
Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), leading global IT services, consulting, and business <\/a>solutions organization, published its global study titled \u2018Where, How and What Leaders Will Compete With in the New Decade: Findings from the TCS 2021 Global Leadership Study\u2019, based on a survey of 1,200 CEOs and senior executives. The study reveals a sharp divide in the digital strategies of better-performing companies (Leaders) versus the laggards (Followers), including unexpected insights such as 80% of Leaders are more willing to collaborate with competitors compared to Followers (23%).<\/p>\n\n\n\n Brought out by the TCS Thought Leadership Institute\u2014which conducts primary research to help organizations transform for long-term, sustainable growth\u2014the study examines how large global enterprises have recalibrated their competitive strategies through 2025, following the pandemic. Specifically, it explores how management teams across the world are striking a balance between innovation and optimization in four areas\u2014digital strategies, digital offerings, digital ways of conducting business, and leadership approaches.<\/p>\n\n\n\n \u201cSenior executives are always challenged to lead their organizations forward to be more competitive, and increasing digitization only accelerates that momentum,\u201d said Krishnan Ramanujam, Business Group Head, Business & Technology Services, TCS. \u201cThis study captures the pulse of global business leaders and their nearly ubiquitous belief that massive digital opportunities abound in the next five years\u2014and their company culture must embrace an innovation mindset. At TCS we use our 3-Horizon Purpose-Led Transformation framework to help organizations embrace innovation in a way that helps them compete more effectively.\u201d<\/p>\n\n\n\n Key findings of the study include:<\/p>\n\n\n\n \u00b7 Innovation was ranked as the most important aspect of organization culture, followed by Diversity, Inclusion and Equal Opportunity (#2), Quality Orientation (#3), and Customer-Centricity (#4).<\/p>\n\n\n\n o Leaders ranked Customer-Centricity as the top cultural priority, above Shareholder Value, while Followers ranked it number 6, indicating that higher-performing companies embed a \u2018customer first\u2019 mindset across the organization.<\/p>\n\n\n\n \u00b7 By 2025, respondents believe 41% of their revenue will come from new offerings. Within that, Leaders expect 44% revenue from new offerings, while Followers expect 40%.<\/p>\n\n\n\n \u00b7 The respondents projected that by 2025, 46% of their revenue will come from purely digital products or services. Leaders expect it to be even higher \u2013 56%.<\/p>\n\n\n\n \u00b7 When asked where they need to more effectively use data, respondents ranked Digital Marketing Campaigns first, followed by Sales Initiatives and Customer Service, suggesting that their companies <\/a>need to improve the way customer data is used to create demand and improve customer experience.<\/p>\n\n\n\n The report also offers data-based recommendations to help shape the strategy of forward-thinking executives on how to take their organizations to higher performance.<\/p>\n\n\n\n TCS\u2019 2021 Global Leadership Study surveyed more than 1,200 CEOs and senior executives from a range of industries including (but not limited to) retail, manufacturing, insurance, banking and financial, healthcare, and more, from four regions across the globe\u2014North America (US, Canada); the UK, Europe (Germany, Netherlands, France); APAC (India, Singapore, China, Australia, New Zealand, Japan); and LATAM (Colombia,<\/p>\n\n\n\n Brazil, Mexico). Respondents\u2019 companies had annual revenues over $1B, with average revenue of $14B.<\/p>\n\n\n\n