PwC Strategy&: Indian companies not ready for growth

09 October 2014

97% of Indian companies are not ready for growth, conclude PwC and Strategy& in a recently released report, in which they investigate the readiness of Indian companies based on its ‘Fit for Growth’ index. The economic slowdown has caused the vast majority of the companies to adopt a reactive approach, resulting in mismatch between strategy and execution.

Fit for Growth
The ‘Fit for Growth’ index by PwC and Strategy& is an index that assesses the readiness of companies for growth. Companies are assessed in three key areas: strategic clarity, optimal resource allocation and a supportive organisation, and scored on a scale from 1 to 5 based on their ‘fitness’ in each of these areas.

In the recently released ‘Why Indian companies need to get Fit for Growth and what you can do’, the strategy consultancies applied the methodology to 30 high, low, and moderate financial performing Indian companies, across 15 industries. The overall conclusion: Indian companies are not ready for growth, a state of affairs that could, on the long-run, impact the country’s economy, warn the consultants. 

Indian companies not ready for growth

The research report shows that of the companies surveyed nearly 80% is not able to realise its growth, a development that results from the companies being ‘strategically adrift’, ‘distracted’ or ‘capability constrained’. More than half (60%) is found in the ‘distracted’ category, which indicates a high degree of mismatch between strategy and execution. Looking at the best performers – around 17% of the companies are ‘in the game’ and only 3% of the Indian companies can be considered ‘ready for growth’. 

According to Bharti Gupta Ramola, Leader Markets at PwC India and co-author of the report, Indian companies will need to adpt their strategy and organisation in order to capitalise on growth: "The long economic slowdown led many organisations to adopt a reactive approach, often resulting in strategic misalignment. As organisations get back on track and refocus on growth, they will need to focus on three critical building blocks – structured corporate planning, robust cost structure and strong risk & governance mechanisms."

PwC - Strategy India

Getting growth-ready
For companies to become future-proof, they must overcome specific challenges. The consulting firm states that ‘strategically adrift’ companies should re-craft their corporate strategies and align these strategies with their core capabilities. ‘Distracted’ companies should operationalise their strategies by channelling resources towards core activities. The ‘capability constrained’ companies are advised to review their operating models, organisation structures, processes, and systems, and the ‘in the game’ companies should create performance-centric cultures with strong risk & governance mechanisms.


How First Consulting generates more insight using fewer reports

08 March 2019

Organisations are continuously investing in more advanced data collection and manipulation methods to enable smarter and more informed business decisions. In order to maximise their business value, companies understand the growing need for performance related insights from their data. First Consulting, a consultancy firm specialised in business change, has helped many clients in the utilities sector to deliver effective change through improved use of their data.

Most utilities firms are structured in such a way that every business unit has a team of analysts who are responsible for providing relevant data insights to their business colleagues. The business analysis teams form the link between business decision making and IT by translating business requests into meaningful actions and delivering information via reports.

Typically, the business user will receive a unique report for each information request, with each new report requiring individual, tailored support from the analyst team. This limits the productivity of the analyst teams and minimises their ability to address new data requests. The growing demand for information puts additional pressure on these teams, as a significant amount of time is required simply to gather and update the required data. This has caused reporting portfolios to expand dramatically. However, due to the analysts’ already stretched capacity, reports do not always deliver the most vital information and documentation is often incomplete.

Redesigning information delivery

At First Consulting, business consultants work in close collaboration with their clients to improve the mechanism for the delivery of information and analysis in response to business requests. The improved structure focuses on providing information per role type, rather than per request. As such, one dashboard is designed for each organisational role type, with all the relevant information presented in a single overview. This allows all individuals of a given role type to open a single dashboard and view what they need, as opposed to collating a large range of disparate links and unique reports which, previously, were all required to enable business decision making.

Moving from unique reports for each request, to reusing KPIs in a select group of dashboards

By implementing this new way of working, clients are able to reduce the reporting portfolio from over 100 reports to fewer than 20 dashboards (see figure above). In addition, the capacity for data maintenance can be reduced significantly by using modular KPIs, allowing for the re-use of data across multiple dashboards.

Changing while everyday work continues

In order to deliver effective change, it is essential that day-to-day processes remain unaffected whilst transitioning to a new reporting landscape. First Consulting achieves this by embedding business consultants within the client’s analysis team to gain feedback and determine exactly what visuals are necessary within the dashboards. This focuses effort on the outcome (such as what should be presented in the final dashboard) and allows a broad range of requirements to be considered in the business context and combined, where appropriate.

Key users and stakeholders are involved from the outset to help define what makes a high-quality dashboard. Adopting this approach helps the team to produce an optimal output that contains the key business information for the appropriate roles in an easy-to-use format.

Once it is clear what should be included in the final dashboard and how this should be presented, the team works according to the priorities set out by the product owner. This ensures that analysts work on the requirements which deliver the most value and which form the most coherent dashboards.

Main results

The advantages of implementing straightforward, no-nonsense solutions using fewer reports are particularly noticeable for the business and for the analyst teams:

  • Making adjustments is easier and maintaining and updating data costs less time
  • Management information is displayed in one location and is displayed according to defined standards, facilitating decision making
  • There is greater capacity within the business for complex analysis and project support

First Consulting combines process, technology, and implementation consulting to deliver impactful and value-adding solutions. The firm has more than 200 consultants based in the UK and the Netherlands.