Tata Group chairman Cyrus P Mistry on Wednesday said the various group companies need to ensure sustainable profitable growth and to develop agile businesses in a changing and volatile world business environment, reports
fe Bureau in New Delhi.
Addressing the group’s leadership and senior management at the Tata Group’s annual group leadership conference, Mistry outlined the critical enablers for sustainable profitable growth that would help the group achieve its Vision 2025.
He listed out some of these, like unique consumer insights, diversification of profit pools, creation of intellectual property rights, deployment of robust risk management processes, creation of financial flexibility to seize opportunities and minimising impact on the environment.
“Sustainable profitable growth is the key building block for long-term stakeholder value,” Mistry said.
Mistry referred to the “inexorable shift to a digital future” and gave over 35 examples of digital capabilities being harnessed across 19 group companies.
The senior leadership teams also presented several digital businesses and enablers — one being an omni-channel marketplace that will integrate offline and online buying across categories from lifestyle and electronics, with brands from the Tata stable and outside.
The other areas of focus are digital health and wellness for providers and consumers, and to get into areas of predictive healthcare. The platform will connect retail clinics, multi-speciality clinics, pharmacies and laboratories with consumers. Also, there was emphasis on digital-based analytics that will provide consumer insights. “The newly formed Consumer Analytics Division at Tata Industries will create a holistic view of the customer, unveiling new business opportunities at the company, cluster and group level,” Tata Group said in a statement.
Sharing the group’s financial performance in 2014-15, Mistry disclosed that revenues had grown from $103.27 billion in the previous year to $108.78 billion. International revenues constituted 68% of the group’s revenues. The group invested about $10 worldwide during the year, and closed the financial year with a capitalisation of $134 billion, up 17% over the previous year.