Change is Painful but Rewarding


Change is usually regarded as inherently risky, as well as costly but this new Covid situation has given us a great opportunity to reinvent the thing. Those organizations suffocating because of rudimentary practices, age old SOPs and redundant guidelines and are reluctant to take harsh steps fearing backlash of change, has eureka moment to shift the gears and move to upper orbit.

Improved risk analysis using key technologies like data analytics and AI will help them not only in overcoming the current situation but will also enable them to understand new ways of doing business with improved quality. This will have far reaching impact on the way strategic planning will be done in future.

The Focus should shift to resolving issues remotely. Cutting down Administrative cost associated with travelling, hiring of workers and work space and Administrative set up which were pertinent prior to Covid situation can be done away with new and improved way. 

Learning should be utilised for AI and ML implementation. Remote working should be encouraged even though it will create some hiccup in the beginning but will yield great result in long run. Emphasis should be more on Domain based skills development by accessing information and processing of same for meaningful output remotely, problem solving and creativity in finding new ways to resolve issues and embracing technologies which will help in rationalising manpower going forward. 

The company which sees this threat as an opportunity in form of catalyst for change for better future will not only survive but will flourish going forward. Change.

Rakesh Tiwary

Chief Financial Officer at Adani Electricity Mumbai Limited

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