Mumbai (Maharashtra) [India], Mar 28 (ANI): Nearly 60 per cent of companies globally, which have adopted the full range of business behaviours needed to thrive in a Business 4.0 world, expect to grow over 10 per cent in the next three years, according to a new study that surveyed senior business decision makers from more than 1,200 large enterprises spanning 11 industries and 18 countries.
With the rapidly evolving business landscape and increasingly sophisticated customer expectations, businesses face constant challenges to quickly adapt and stay ahead. The TCS global study titled ‘Winning in a Business 4.0 World’ benchmarks large companies in their growth and transformation journeys by mapping their adoption of four critical business behaviours: driving mass personalisation, creating exponential value, leveraging ecosystems and embracing risk.
The study found that almost one in ten (9 per cent) survey participants or leaders have adopted all four behaviours. More than eight out of ten (82 per cent) companies or early adopters have embraced one to three of the behaviours, with mass personalisation being the most prevalent (78 per cent).
European businesses accounted for the most number of leaders followed by Asia Pacific and North America when adjusted for the respondent mix.
Leaders are three times more likely than followers — nearly nine per cent of participants that have not yet adopted any of the Business 4.0 behaviours — to have embraced Al, blockchain and loT technologies, and twice as likely to have embraced automation.
‘The study reveals a strong link between Business 4.0 maturity and technology adoption. Leaders are more likely than other participating companies to have driven digital growth and realised double digit revenue gains,” said K Ananth Krishnan, TCS Chief Technology Officer.
“Agile methodologies, cloud, automation, and Al are examples of tech pillars that enable leaders to change course and adapt to shifting market dynamics much better than companies with inflexible ‘idea to execution’ timelines of months or years,” he said.
Krishnan Ramanujam, Global Head of TCS Business and Technology Services, said successful business transformation journeys require a fundamental mindset shift from the top, with senior leaders driving digital behaviours forward within their organisation and overcoming perceived business or cultural challenges.
“Thanks to digital technologies, we have a great opportunity to move from past philosophies of optimising scarce resources to a Business 4.0 approach that harnesses an abundance of talent, capital, data, computing resources, and broader ecosystems to solve business problems and deliver value,” he said. (ANI)