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A decade back in 2008, six of the world's top ten publically traded corporations by market capitalisation were energy companies, with Exxon Mobil being the world's most valuable company worth over USD 430 billion. Around the same time, companies like Apple Inc, Amazon & Facebook were valued around USD 88b, USD 33b & USD 15b respectively.
A decade later in 2018, times have changed with six of the world's top ten companies now being Technology companies. Whilst Exxon Mobil is still among the top at number 10, its valuations have dropped to USD 350b. A fall of USD 80b from it's valuation a decade back, which was nearly what Apple was worth in 2008. Apple, Amazon and Facebook are meanwhile now worth over USD 910b, USD 825b & USD 560b respectively!!
The above statistics was just one of the many examples highlighting that the world is witnessing change and a dramatic reshuffling of the corporate world-order as further pace of change reaches all-time highs.
With global megatrends, changing industry ecosystems and groundbreaking technologies, business operations in traditional sectors like Energy, Manufacturing, Pharmaceuticals, Chemicals & Petrochemicals etc now need to be agile, scalable and resilient to tide against these waves of change.
These industries need to face headwind risks like global competition, increasingly complex international supply chains, rising customer demands, operational challenges, demanding regulations and pressing mandates for compliance and safety whilst continuing to deliver value to their customers and shareholders.
However, efforts to reduce risk are often seen as diametrically opposed to efforts to achieve production targets and improve production efficiency. In order to maintain a competitive edge, they must focus on creating more agile, cost-efficient and effective operations in spite of volatile market conditions. Building efficient operating models thus has never been more important.
Excelling in the face of these increasingly demanding pressures is now a "do or die" situation
The bottom line is that to survive, companies, teams, and the leaders within them must perform at an entirely new level of efficiency. A new breed of managers who are able to marshal the latest technologies towards the steep demand of their customers and their companies. Managers who leverage real-time analytics, work automation, and collaborative work to get 10X more done with existing resources, whilst borrowing from agile methodologies and figuring out how to scale these processes across their large teams and across their companies. Managers who use these new work practices to drive cultural change in the organization, inspiring teammates, and building lasting competitive advantage for the on-demand era.
In a single phrase, these managers need to achieve a new level of "Operational Excellence" that we believe is a crucial element of success in today's economy.
Bringing together the key industry players from across the global markets to discuss the current issues and future opportunities in the industry, The India Operational Excellence Conference 2018 will focus on design, structure, maintenance, inspection, process, operations, and management concepts. The Summit will comprise of case study presentations from thought leaders, panel discussions and technical sessions addressing a wide range of pertinent topics.
Committed to Excellence? Join us to emerge lean, agile & sustainable!!
I look forward to seeing you in New Delhi during November.Anand Kumar, Co-Chairman, Advisory Board, ENCIS
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