Focus on profitable growth, Cyrus Mistry advises Tata companies
In order to succeed in a volatile business environment, Tata Sons chairman Cyrus Pallonji Mistry has advised leaders of group firms to focus and work on sustaining profitable growth and develop agile businesses.
The chairman requested the leaders to achieve the company’s Vision 2025 and said sustainable profitable growth is the key building block for long term stakeholder value creation, reported the Economic Times.
Giving details about they can push the group to achieve the its Vision 2025, which is a quarter of the world's population experiencing the Tata commitment to improving the quality of life of communities and customers, the chairman asked group companies to create an omni-channel marketplace that will integrate store shopping and online buying.
For the group to sustain profitable growth and develop agile business amidst a changing world business environment, he advised that it should focus on developing unique consumer insights, diversification of profit pools, creation of
In FY15, Tata group invested $10 billion, or about Rs 63,000 crore, and its market capitalisation increased 17% to $134 billion, or about Rs 8,44,200 crore, according to the financial daily.
Digital businesses were part of the conference and, according to a statement by the company, over 35 examples from across 19 Tata companies that are successfully harnessing digital capabilities in their strategies were showcased.
A consultant who works with the group said like all other brick and mortar companies, Tata group will have to move towards digital as a channel to reach consumers.
"The transition, however is not going to be easy. However, as the consumer gets comfortable, the company has no other choice," said the person who requested not to be named.
According to the company statement, Mistry also highlighted opportunities across the world including those that are "presented by a rapidly growing