Customer-centric approach will catapult India to a global platform, says Saurabh Chandra of BCG
India is poised to disrupt existing solutions in the market as a result of changing mental models, which puts consumers at the centre of the business, said Saurabh Chandra, Managing Director at management consulting firm,(BCG).
Speaking to Shradha Sharma, Founder and CEO, YourStory, at TechSparks 2021, Saurabh said, the change in customer-centricity of businesses has also paved the way for Indian companies in the global paradigm.
“We as a country are poised to disrupt many solutions in the market for betterment. This is the future on the markets side. On a global platform, many countries will want to partner with us on this journey or would want India to come and build these new solutions for them too,” said Saurabh.
The mindset change has also extended to large, diversified companies, which are looking at technology not just as another piece in the puzzle, but as a key instrument to create an ecosystem.
As digital transformation of businesses gets accelerated, BCG has launched BCG Platinion, which offers digital architecture and services, architecture and platforms, and enabling transformation for businesses.
Saurabh, who was previously the head of engineering and product atIndia, said, that even legacy businesses are increasingly focussed on creating products which the consumer needs, rather than what they are good at. This has also turned the focus on driving efficiencies, as well as a focus on selling globally and pricing the products differently.
“Everyone has started understanding that it is a consumer’s world. So much so that even an industrial goods company looks at it that way. It may not be a direct consumer, but could be a business-to-business product or even the partner ecosystem,” said Saurabh.
The adoption of technology and disruption in the mental model will play out across sectors, he said. He added that banking and fintech will adopt technology, leading to more uptime for customers and branchless banking in the near future. The new models are also focussed on creating a sustainable environment, need-based consumption of assets and resources, development of smart infrastructure, and increased accessibility of education.
With Indian entrepreneurs coming up as global leaders, Saurabh said there are key traits of leadership, which he has observed over the years.
“One thing which is common is that the leaders keep learning, are vulnerable, and say they don’t know something and would like to learn. Secondly, they are clear about their goals and work backwards, trying to simplify things,” said Saurabh.
He said there is a need to think big with a view to building capabilities rather than just a process. He added that a leader cannot be grey in decision-making apart from being aware of markets and competition which are the key traits seen among leaders.
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Edited by Megha Reddy