In an exclusive interview with ET-Insights, Rajesh Jain, CEO, LPS Bossard discusses the strategies to stay ahead of the growth curve and the most interesting industry innovations.
ET-Insights: In a rapidly evolving world, how can organizations strategize to stay ahead of the growth curve?
Rajesh: The three major factors which play an important role in growth of any organization are ESG- Environmental, Social and Governance
Environmental: With the global warming and continuous climate changes, every company must have a policy how they are protecting the environment at their work and the community they live.
Social: How well the company is taking care of their employees and how well the company is connected to the social fabric in the community they work in.
Governance: We are aiming towards a Deming award/TQM wherein the company has well laid out procedures for every single activity related to manufacturing, people and customers.
ET-Insights: What are the industry innovations that particularly catch your eye?
Rajesh: In today’s virus situation, as virus sees no boundaries, people are preferring to buy everything online and need home delivery services, so every company who has online business model related to people has a future.
Biomedical engineering has a great potential and with 3-D printing now one can develop human parts, also Quantum computing by Google all such stuff are eye catchers. Work from home – The companies who will focus on all enablers and can make it happen will be successful. India has the greatest future, with the COVID-19, everyone has started to think for alternate sources and like when tsunami came in Japan, all Japanese companies planned to have a second manufacturing base, with the earthquake in Taiwan, the semiconductor industry moved to US and with floods in Thailand, lot of companies also reallocated. Similarly, with the low cost and talent pool available in India, everyone will invest here and India seems to be having a long term future.