80% of top global firms collaborate with competitors: TCS

NEW DELHI: Tata Consultancy Services (TCS) , a leading global IT services, consulting, and business solutions organization, published its global study titled 'Where, How and What Leaders Will Compete With in the New Decade: Findings from the TCS 2021 Global Leadership Study', based on a survey of 1,200 CEOs and senior executives. The study reveals a sharp divide in the digital strategies of better performing companies (Leaders) versus the laggards (Followers), including unexpected insights such as: 80% of Leaders are more willing to collaborate with competitors compared to Followers (23%).

Brought out by the TCS Thought Leadership Institute-which conducts primary research to help organizations transform for longterm, sustainable growth-the study examines how large global enterprises have recalibrated their competitive strategies through 2025, following the pandemic. Specifically, it explores how management teams across the world are striking a balance between innovation and optimization in four areas-digital strategies, digital offerings, digital ways of conducting business, and leadership approaches.

"Senior executives are always challenged to lead their organizations forward to be more competitive, and increasing digitization only accelerates that momentum," said Krishnan Ramanujam, Business Group Head, Business & Technology Services, TCS."This study captures the pulse of global business leaders and their nearly ubiquitous belief that massive digital opportunities abound in the next five years-and their company culture must embrace an innovation mindset. At TCS we use our 3-Horizon PurposeLed Transformation framework to help organizations embrace innovation in a way that helps them compete more effectively."