Autonomy To Be Established For Quick Decision-Making

In the coming future, managements will have to be prepared for all eventualities and uncertainties

In the first 15 years since its debut in 1995, the Internet managed to reach only a meagre 7.5 per cent of India’s population. However, a decade more thereafter, the story is remarkably different. Driven by a surge in smartphone us-age, nearly 50 per cent of the country’s population is now connected to the World Wide Web, and it is estimated that by 2025, close to a billion would be networked. It has also spurred the country’s digital transformation though there is still a long way to go to reach its true potential.

While India has leapfrogged to the digital realm in the last few years, Covid-19 has amplified this pace multifold. The crisis, which hit us all unexpectedly, demonstrated just how big a role digitalisation plays in information flow. To begin with, one of the critical pillars of a nation’s progress — the education sector, has adapted digitalisation to its core during the pandemic. Digital devices once considered a distraction from studies, have now transformed into essential learning tools.

For businesses, the impact has been transformative. It is a new way of life for businesses to create a framework that allows for quick response to constantly changing situations. Not surprisingly, digital strategy and transformation now find a priority place in corporate boardroom discussions.

The pandemic was a turning point in how people work. It has completely changed our approach to work, mobility, and flexible working models. Most of these new models would be aided by digital platforms in the future. From our own experience it is evident that companies that embraced digital transformation more aggressively have performed better during the pandemic and are reviving faster.