Why Think Flat
The world is getting flattened by forces of globalization, changing demographics, ubiquity of technology and regulatory compliance. The Pulitzer Prize-winning author and columnist Thomas Friedman, in his unique way of putting things, says “The World is Flat.”
At Infosys, we have had the privilege of looking at these changes from a different perspective - from the other side of the world.
We call our perspective “ Think Flat”, because we believe this change is as much about changing the business mindset as it is about changing our strategies and operations.
Companies must grasp the impact of the evolving business environment, respond to challenges and harness opportunities to succeed. To win, companies must address the shifts of the Flat World:
In the flat world, you need to lower the cost structure so that products and services become affordable for populations even in developing countries
Good service is necessary but not sufficient to drive retention. Creating customer loyalty requires companies to innovate faster by exploring new models of innovation such as co-creation with customers and partners and focus on customer experience.
Companies have spent large budgets on building enterprise systems and generating information. They should now harvest information for profit. They must leverage information to identify new revenue opportunities.
Companies must have a strategy to remain competitive during an industry downturn and respond effectively when the industry cycle turns.