InvestorQ : Do you think that other Indian companies should take a cue from Reliance Industries on digital move?
Rashi Mehra made post

Do you think that other Indian companies should take a cue from Reliance Industries on digital move?

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Archita Jajjoo answered.
4 months ago
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I am sure a lot of Indian companies are already taking a cue from Reliance Industries on how it managed the shift to digital. Globally, GE was a company that started off as an engineering company and then forayed into financial services. By 2006, financial services was accounting for a bigger chunk of the value. Of course, GE Financial was a disaster post-Lehman.

Let us come back to the Reliance story and the takeaways for Indian corporates. If you look at it, most companies struggle to make a strategy shift, especially if it impacts their core DNA. It is here that the RIL case should be reassuring If an RIL that spent 50 years planning the largest refinery can shift to a digital company, then any other company can.

It is essential to understand what went into the shift. RIL changed its strategy and approach for the better; and valuations are proof. The lesson is that even large conglomerates can change provided they are willing. But the change must be well thought through, properly executed, well followed-up and clearly explained to stake holders. That is what RIL did!

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