Advancing technology, global competitive pressures and dynamic market expectations have made businesses realize that their sustainability depends on their ability to innovate. Although innovation flourishes in nearly every small and big organization, most of it is still done in isolation and is sometimes not even linked to the company’s strategy. Research elucidates that not all innovations are successful. The issue does not lie in innovating per se but arises from “how” companies manage their innovation process.
The Indian e-commerce sector is expected to grow 70 per cent in 2015 and cross $6 billion to become one of the fastest-growing e-commerce markets in the Asia-Pacific region. Market players are providing various incentives to lure customers in order to gain market share. They have adopted a low margin and high customer acquisition cost business model. However, players must focus on long-term value creation while racing for the bigger piece of the pie.
Dinesh Mishra, Partner and Customer Leader, EY and his team launched the second edition of their flagship thought leadership series “EY Social Media Marketing India Trends Study” the previous week. Continuing from the success of the first edition of the report (released in 2013), this edition continues to track how Indian marketers and organizations are using social media platforms and how social media initiatives are evolving.
A successful cyber-attack can impact shareholder value, tarnish the brand and reputation, expose the company to litigation, result in loss of competitive advantage, reveal regulatory or legal non-compliance, and result in steep financial consequences in billions of dollars.
India has come a long way since its independence in terms of social, political and economic development. However, it continues to grapple with issues of inclusiveness, equity and sustainable growth; this has a strong underlying impact on the country’s business environment. In light of this, the Indian Government amended the Companies Act to mandate companies to make investments for the cause of the betterment of society. With this, India became the first country in the world to legislate Corporate Social Responsibility.
Do you think the role of the CSO is no longer restricted to planning, in which case is there a risk of ambiguity/dilution of his responsibilities? In today’s blog post Guru Malladi, Partner, Advisory Services, EY India, highlights the evolution of the CSO to a CSIO and its importance in modern organizations.
To make our Companies Act more contemporary and relevant to corporates, regulators and other stakeholders in India and to effectively handle some of the present day challenges of a growing industry, Companies Act, 2013 (“2013 Act”) was enacted in August 2013- to significantly change the regulations as applicable to the Companies in India.