Digital Enablers Dissect Disruption

Friday 20th November, 2020

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Digital Enablers Dissect Disruption In a series of virtual conferences, leaders from established corporates and successful start-ups got together to discuss the challenges, problem areas, learnings and opportunities that emerge for enterprises, from the COVID-19 crisis. Enterprises rebooting: The new normal in a new world ek e et v e e cople may be afraid to use public transport and want to avoid crowds but they may not be in a position to buy a vehicle, We are trying to make it safer and have made some simple changes, like introducing duration-based plans." Vivekananda Hallekere, HH oe & CEO, Bounce Share. | "About 2.000 stores across China, are back to : has been dithcult to | "1 moved to my village six goods and even foodgrains. ago, not because of the pandemic, S i This is because we depend on but because T wanted to build about 60% to 70% of their last vear's sales at . . i ` i . : an architecture thar was put in a more resilient svstem and present. After the first month, they had recovered i = : Pace over several decades and has only 15%. In the Middle Fast, there was a 50% organisation for the Jong term. outlived its use." Sahil Barua, co-founder & CEO, Delhivery. Here, the impact is minimal." Sridhar Vembu, Founder & CEO, Zoho recovery in the first week." Aneesh Reddy, co-founder & CEO, "People are at home "E-commerce "(Once the revival p and since they have company begins, the fundamentals have | segment of markets become stronger and burning cash to grow has to stop." for most products and trading accounts or services will definitely have started to 3 lead the recovery." Aditya Ghosh, Board Member OYO Hotels & Homes Nikhil Kamath, co-founder & CIO, Zerodha. Peyush Bansal, co-founder & CEO, Lenskart. ( a Ch mao of ne Tn anticipation of the | ndian governments decision to put the country into a lockdown, we had already moved 4,500 of our 12,500 white-collar employees t0 a work from home regime." CU eo Cuenmcer Bursehe CEO, Tata Motots Co Guenter Butschek, CEO, Tata Motors. ) "We've al] learned | lesson that some things : long as we provided eds yw c experienced a slump our ce hada =. core business, i.e, critical . conservative laptops and internet connectivity [0 our care. But we had tO ramp up approach towards 'work from home before the crisis. cmplovecs, they were able to capacity and operations to work from home." CP Gurnanni, CEO & MD, Tech Mahindra. mect the growing demand for can be done remotely and too, quite efficiently." Deep Kalra, Founder & CEO, MakeMy Trip. Covid 19 treatment and care." Abhay Soi, Chairman, Max Healthcare. However, during the crisis, the management took crucial decisions while meeting virtually." RS Sodhi, MD, Amul. Introspecting on the Role of Technology in the New Normal (EE, virion, of Los hoc beer arr oN of dollars have been spent to create the habit of online spending. And in one fel] swoop, the : ' & b pandemic has driven consumers to consume digitally. r____-__"'lhc crisis completely changed the way we perceived our customers and engaged with them." Munish Sharda, MD & CEO, ( "wm Generali Life Insurance. Cp" Scr cofounder & CEO. Carrhae.) Sacheti, co-founder & CEO, Caratlane. Management lessons reinvented by the Covid-19 crisis and technology trends that emerged "We used to hear of Black Swan events | as [' Far as the oil industry is concerned, we witnessed a double Black Swan." "Our industry, like a others, got punched in the face quite hard. overnight, by the arrival of COVTID. But opportunities have emerged and we are learning new tricks." V Vaidyanathan, MD & CEO, IDFC First Bank. Mukesh Kumar Surana, Chairman & MD, Hindustan Petroleum Corporation Limited. _ "Video conferencing, Work from Home, Telemedicine ~= none of these are new trends but this pandemic has put all chose wends on steroids." Atul ~ CEO, Manthan. : used to be a big believer | long term planning and that has been turned on its head. Right now, we have to just plan for the short term and ake a loc of COUrSC COTTCCHONS a5 We gO. "We sill have to figure out how to inspire trust in potential clients without the human touch, while we arc just a face on a video or a call on the phone. RM QW MD & CEO, IndiaFirst. Rono Dutta, CEO, IndiGo. Business disruption and opportunities that emerge "We were ready and [vpically, while dealing with elobal recessions, the focus is on the shareholders, customers and cmployecs, in terms of the impact on their earning. For the rst time, we arc also concerned about the health and well-being of employees. That itself is a big shift in our mindset." happened "; ~. During thc Since China was infected first and had to slow down its steel production, our exports increascd dramatically." Sudhanshu Saraf, CEO, Jindal Steel. claims digitally." Tapan Singhel, CEO and Dr Akshay Bellare, president, Honeywell. General Insurance. Democratization of Technology in the New Normal We have tO control the infection, "What makes | crisis unique in modern economic history is thar both the demand and supply side are being compressed at | same crime. The irony is that in spite of record media consumption, revenucs have nor quite kept up with the consumption." | a digital organization, everything was already cnabled for work from home However, emplovees were never psychologically strengthened to work from home. Gautam Sinha, CEO, Times Internet Limited. the best of its ability." Dr. Murtaza Khorakiwala, MD, Wockhardt. Ramki Sankaranarayanan, Founder and Global CEO, Prime Focus Technologies. the adoption instantaneously. lockdown period, we issued 20 lakh policies and seuled 12 lakh managing director, Bajaj Allianz so that it | not overwhelm our healthcare system at the COSt of suppressing, economic and social activity. Is a balancing act hat the government is doing, tO "The government d that it could be a great enabler to industry as IT was able 1 maintain the lockdown for the protection of the people and vet it facilitated the movement of cssentials and intermediaries. GV Prasad, Co-chairman and MD, Dr. Reddy's Laboratories. "lele-consultations and = delivery of medicine are eflicient, save time waiting at hospitals and are definitly going to enable a patient and doctor to interact in a different wav." Dr. Nandakumar Jairam, Chairman & CEO, Columbia Asia Hospitals. "We faced three major challenges. 'The first was that OPDs and hospitals were being shut temporarily, The second was logistics and the third was a change in patient psychology. Dr Vedam Ramprasad, CEO, MedGenome "Life has significantly, But its an opportunity for us UO become more learning-agile Ihe Fister we accept new things the beter we will be able to deal with the unfortunate but different circumstances. going forward." Ambareesh Murty, Co-founder, and CEO, Pepperfry. Leveraging Technology while Living in the New Normal (o ) "When the pandemic struck, we suddenly had to face two crises one was peoples fear of outside food and interacting wirh people: the other was logistical challenges." Vivek Sunder, COO, Swiggy. Y | he crisis has really our digital modules. We've been able to virtually move into the homes of patients who are old or sick and look after and monitor them at home: we've also trained fear chat the media has created around the pandemic is really the biggest problem. The cconomic cost that we're paving for this is signihcantly higher and the reset is going to be a long and painful one." "We have collectively shed our resistance to technology and realised that we were capable of using it once we had no option. nurses remotely, offered teleconsults and set up e-ICUS." Suneeta Reddy, MD, Apollo Hospitals. Gautam Singhania, Chairman & MD, Raymond Group. Wd) Tyagrajan, CEO, Genpact. | ran asurvey in our company among hundred top CxeCUTives, asking them what they believed had accelerated digitization. 98 executives said COVID. Murlidhar Gangadharan, MD and CEO, Kotak Life Insurance. | have to igure out how to leverage the power the lockdowns, our teams performed a levels which we had never cver seen before, despite all the challenges." 3 of wchnology against the back drop of a breakdown in assumptions. Mohandas Pai, Chairman and MD. Manipal Global Education Services. Mohit Gupta, Co-founder & CEOFood Delivery, Zomato _ %9 o Envisioning a Future that Orbits around Digital (_-"'w recovery may not follow the popularly routed trajectories 'V-shaped' or 'U-shaped' or even 'L-shaped'. Instead, ic could be KR-shaped', reflecting evo independent paths. Companies that survive will prosper and others will plot a downward trend. ~ Padalkar MD & CEO, HDFC Life Insurance. : working from I realised that L had beer access to and interactions with my employees than before. "With the destruction hicrarchical Structures, our vision has been percolating to every person in the company and decision-making cvcles have been shortened." Mohit Malhotra, CEO, Dabur India. "E-learning increased during the lockdowns but bridging the digital divide at the houschold level will be key." OM) Lulla, CEO, BARC India. Zishaan Havath, co-founder & CEO. Toppr. _ ee e Looking Ahead with Learnings from the Crisis N B O (S 15 4 TETE B "Industry 4.0 is the Covid-19 brought ALY EES BR ot of ality, We need about a problem-solving leadership. This crisis OA WC ECC analytics, digitisation and upskilling. Ic will lead to an cntire cultural culture in organisations. forced companies to We want to sustain this look ac cvery cmployec momentum and scale i" as Person and not just someone who works for ] lire G -H . Virendra Gupta, them for 8 hours a day. change. Founder, Daily Hunt. Dipali Goenka, CEO & Jt MD, Welspun India Limited. Srikanth Velamakanni, Co-founder, Group Chief Executive and Vice Chairman, Fractal.