While it is correctly believed that the pandemic has 'leap-frogged' the digitalization process in by a decade at least, with key focus on emerging technologies such as Artificial Intelligence, Analytics, IoT, Cloud Computing etc, yet it would be prudent for the corporate world not to lose sight of age-old 'gospel truths' such as Total Quality Management (TQM) encompassing three of it's key constituencies such as - employees, customers, and vendors/business partners.
How to leverage these emerging technologies to drive efficiencies in TQM initiatives, percolating down to each function, process, and each employee, should be one of the key strategic decisions required to quickly 'heal' from the pandemic induced 'bruises'.
Specifically, the end objectives of such strategic decision should be to realize the following:
a) 'Best place to work' for the employees,
b) Creating 'Wow factor' with consistency for the customers, and
c) 'Best business partner' perception for the vendors/business partners.
Once these key objectives are met, the other most important constituency consisting of shareholders and investors, would be served automatically, They will see amazing returns from their investments, thereby enabling a premium valuation for such an organization far above its peers.
How to leverage these emerging technologies to drive efficiencies in TQM initiatives, percolating down to each function, process, and each employee, should be one of the key strategic decisions required to quickly 'heal' from the pandemic induced 'bruises'.
Specifically, the end objectives of such strategic decision should be to realize the following:
a) 'Best place to work' for the employees,
b) Creating 'Wow factor' with consistency for the customers, and
c) 'Best business partner' perception for the vendors/business partners.
Once these key objectives are met, the other most important constituency consisting of shareholders and investors, would be served automatically, They will see amazing returns from their investments, thereby enabling a premium valuation for such an organization far above its peers.
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