Introduction
In business as in life, change is the only constant. The Covid-19 pandemic has tested organisations and their leadership to the core – on various fronts. Long-established business models are being challenged or overturned and more than ever, disruption and uncertainty have become a way of life. From a longer-term viewpoint, technology is changing the way businesses are run, whether at the 20,000-foot level, function-wise, or at the level of individual projects. The workforce is also transforming. Gen-Zs and Millennials are coming to the fore, which is forcing organisations to rethink their people policies and even their workplace and culture. After the pandemic, hybrid work models are ascendent, displacing the traditional work-from-office model.
IMA India, in partnership with Project Management Institute (PMI), recently conducted a research study that sought to understand how top managers are viewing internal business transformation and reinventing their business models. Clearly, ‘transformation’ is a broad term but the focus of the study was on a few key aspects: digitalisation and automation; process transformation; leadership; and people. We ran in-depth interviews with the leaders of 10 prominent, foreign and Indian multi-national companies, to understand the internal and external changes they are witnessing, the challenges posed by those changes, and how they have responded.
Our research report, which can be downloaded below, examines, in turn, the business process transformation process; digitalisation and automation; leadership imperatives for today; and employee enablement. A concluding chapter draws together some of the key learnings from this study.
About
IMA India
IMA is a niche economic, business and market research firm that provides insights and analysis to top management audiences in India through multiple channels. For 28 years, IMA’s research and opinion has informed the perspectives of investors, industry and government. IMA is one of the country’s largest peer group platform for top functional executives, comprising more than 2,500 Indian and global business/functional heads from over 1,500 member companies. Since 1994, it has developed an unmatched capability to harness and distil collective wisdom, enabling top managers and industry leaders to interpret changes and forecast developments in the operating environment through authoritative guidance.
About PMI
"Project Management Institute (PMI) is the leading professional association for project management, and the authority for a growing global community of millions of project professionals and individuals who use project management skills. Collectively, these professionals and ‘changemakers’ consistently create better outcomes for businesses, community and society worldwide.
PMI empowers people to make ideas a reality. Through global advocacy, networking, collaboration, research, and education, PMI prepares organisations and individuals at every stage of their career journey to work smarter so they can drive success in a world of change.
Building on a proud legacy dating to 1969, PMI is a not-for-profit, for-purpose organisation working in nearly every country around the world to advance careers, strengthen organisational success, and enable project professionals and changemakers with new skills and ways of working to maximise their impact. PMI offerings include globally recognised standards, certifications, online courses, thought leadership, tools, digital publications and communities."
Download Short Papers
Shifting Leadership Imperatives: Priming the Organisation for Transformative Growth
Crises can be opportunities to drive fundamental change. Today, leadership roles and responsibilities are being redefined as businesses grapple with disruption of many varieties. This paper examines the steps CEOs are taking to build leadership resilience.
Download PDF
Managing People Through Change: Priming the Organisation for Transformative Growth
As external disruption gathers pace, businesses are transforming at an accelerating rate. In the final analysis, what will separates the winners from the also-rans is the ability to adapt and respond to a fast-evolving workforce. This paper highlights some practices that companies might adopt as they seek to get the best out of their most precious resource: people.
Download PDF