Not all business unicorns hails only from India, China or even from California. One of them actually originates from the eastern European country of Romania. One of the fastest growing software companies in the world is Ui Path, which was until quite recently, based in the country’s capital city of Bucharest, until relocating to New York in 2017. The company is valued at over seven billion US dollars, while its total workforce numbers around three- thousand. Its client- list ever- broadening, has now touched five- thousand, while its annual revenues have crossed three- hundred million dollars. Significantly, Ui Path has curated a developer community numbering to about half a million people. The company’s CEO Daniel Hines has clearly outlined that the corporate strategy of Ui Path has always been to provide solutions to its clients. Business Process Outsourcing (BPO) was one area that provided among the early impetus for Ui Path to grow, but slowly the business diversified.

Source:https://www.strategy-business.com/article/Making-automation-easy?gko=13364

Uploaded Date:27 December 2019

Digital transformation is something that several companies worldwide and entire sectors are now invested in. However, once achieved, companies must realize that no digitization efforts need be one- time, but a continuous effort. The one thing that is most important in sustaining these efforts is the company culture. A digital culture needs to possess a certain mindset, has the right digital leaders, while the roles matched to individual skills. A full 360- degree awareness is necessitated on digital aspects. Such companies track authentic business intelligence on how users react to the different digital offerings. They also curate a team full of the new cosmopolitans to ensure the initiatives keep working. Thus, the talent recruitment strategy is geared towards hiring the digital natives, suits and the quants. The last two categories are the professional managers and data scientists. The leadership team needs to ensure that the entire people structure is run on the principles of meritocracy and fairness. Experimentation is the constant norm here. They realize that failures are acceptable, as long as learning takes place.

Source:https://knowledge.insead.edu/leadership-organisations/sustaining-digitisation-hinges-on-culture-8851

Uploaded Date: 16th December 2019

While several companies have been caught off guard with this new trend of remote workers, some noted human resource experts say this is a great opportunity for the companies, to leverage its distributed workforce. Organizational challenges are now more of a headache for companies than the technical ones are. Having a remote workforce, actually lessens the pain of such hurdles. Several challenges though still remain. One of them is to do with communications medium. Another common issues can be along project management. Talent management and development is yet another of those. Yet another challenge with gig employment involves the IT services and its subsequent services received. Some companies may ask if it is worthwhile to actually bother about gig workers, when there exist so many challenges as elaborated above. But repeatedly it has been proved that yes one needs to engage with the remote workers, as this means that talent in the company is not limited by constraints.

Source:https://sloanreview.mit.edu/article/leading-remotely/

Uploaded Date: 14th December 2019

Digital transformation is much more than merely about a shift in technology. Instead, it is about a complete mindset shift. While penning down the latest book Beyond Performance 2.0, business research was conducted to gauge the performances of companies that disregarded employee views during such transformations. It emerged that not a single one of such were successful. Companies need to understand the root cause of hindrance- causing behaviors, as exemplified by the brilliant transformation effected by the Manchester Shoe Company. Unconscious mindsets too will be understood in this process. The root causes, post identification, need a complete reframing. The changes need to be personalized from the very top of the company hierarchy. Likewise, the work environment too will need an overhaul. Role modeling and reinforcement mechanisms are amongst the best techniques applied at this stage.

Source:https://www.mckinsey.com/business-functions/organization/our-insights/getting-personal-about-change

Uploaded Date:29 August 2019