Strategic capability building for business success
On 15th November, 2022, the Trade Promotion Council of India organised a today’s panel discussion on ‘Strategic Capability Building for Business Success’. This webinar looked at various growth strategies that Indian companies can deploy in order to succeed in global markets by enhancing their operational and strategic capabilities.
In a China+1 world, amidst various pandemic-induced supply-chain challenges and geopolitical tensions, it is imperative for organizations aspiring to be global to first look inward, assess their preparedness and build their strengths where it truly matters. Companies with the right combination of capabilities can succeed in this milieu by turning disruptions into opportunities that synergise with their unique value proposition. Research tells us that when senior leaders role model the behaviour changes they’re asking employees to make, transformations are 5.3 times more likely to be successful.
For this, capability building is the foundation stone for an organization to succeed. Capability building goes well beyond traditional training of employees; it’s the abilities of an enterprise to operate its day-to-day business as well as to grow, adapt, and seek competitive advantage in the marketplace.
Corporate strategy is the key, when it comes to optimizing organisational capabilities. A strategic approach to capability building is important as India aspires to become a US$ 5 trillion economy over the next few years. Piyush Goyal, the Commerce & Industry Minister, acknowledged that to achieve this goal, it is imperative that the share of exports in India’s GDP rises from 21.4% in 2021-22 to at least 25% (or US$ 1 trillion). Since 66 lakh MSMEs in India are the backbone of the economy, they will play an integral role in promoting India’s growth.
Agenda for discussion:
- The importance of strategy for companies.
- Post-pandemic landscape transformations that Indian companies need to account for.
- Challenges Indian companies face in terms of building global brands.
- Enhancing global competitiveness.
- Prof Vivek Suneja, Dean, FMS, Delhi University & Committee for Advanced Trade Research, TPCI
- Prof Anuj Kapoor, IIM Ahmedabad
- Umang Patel, Associate Director – Business & Strategy – Cipla
- Ashutosh K., Founder & CEO, Growth Jockey
The discussion proved to be an excellent platform for the audience to gain from the rich theoretical knowledge and practical experiences of the panel. The session was moderated by Nikhaar Gogna, Deputy Editor, India Business & Trade and Executive Officer, TPCI.