Management Principles and Application Assignment 1

DIGITALIZATION,
ENTREPRENEURSHIP
AND INNOVATION
CASE STUDY ON TATA
CONTENTS
01 02 03
INTRODUCTION DIGITALIZATION CASE STUDY:TATA.
ENTREPRENEURSHIP
AND INNOVATION.
INTRODUCTION
The technological environment for business is constantly

evolving, driven by rapid advancements in technology. The
business environment at all level be it macro ,meso, micro is
changing at a rapid rate ,this leads to manager to examine
existing principles as well as explore new solutions to the
problem ,
THIS REQUIRES AN UNDERSTANDING OF FACTORS

WHICH ARE RESHAPING THE MANAGEMENT PURPOSE.
Digitalization
Digitalization refers to the integration of digital technologies
into everyday business operations. This transformation enables
businesses to automate processes, improve efficiencies, and
enhance customer experiences. Key aspects include:
•Automation: Streamlining tasks and reducing manual intervention.

•Big Data and Analytics: Leveraging data to make informed decisions
and predict trends.
•Cloud Computing: Providing flexible and scalable IT resources.
•E-commerce: Facilitating online transactions and expanding market
reach.
•Social Media and Digital Marketing: Engaging with customers and
promoting brands online.
EFFECT OF DIGITALIZATION
RISE IN E-COMMERCE AND M-COMMERCE
PLATFORM
TRANSFORMING BUSINESS MODEL
Business model
transformation refers to the
fundamental rethinking and radical
redesign of a business's core logic
and operations, aimed at achieving
significant improvements and
competitive advantage in response to
shifts in market demands,
technological advancements,
consumer behavior, or regulatory
changes.
OLA TRANSFORMED IT SELF BY

ADOPTING TECHNOLOGY IN ITS
BUSINESS MODEL
TRANSFROMING BUSINESS PROCESS
PERCENTAGE OF IMPROVEMENT GRAPH

TRANSFROMING BUSINESS
DOMAIN
TRANSFORMING ORGANISATION
CULTURE
ENTREPRENEURSHIP AND INNOVATION
Entrepreneurship involves the creation and management of new

businesses, often characterized by innovation and risk-taking.
Entrepreneurs drive economic growth by introducing new products,
services, and business models. Key traits include:
•Innovation: Developing unique solutions to market needs.
•Risk Management: Navigating uncertainties and seizing
opportunities.
•Market Analysis: Identifying gaps and trends in the market.
•Networking: Building relationships and partnerships.
•Adaptability: Responding to market changes and customer
feedback.
Innovation is the process of translating ideas into valuable products,
services, or processes. It is crucial for staying competitive and
meeting evolving customer demands. Types of innovation include:
•Product Innovation: Creating new or improved products.
•Process Innovation: Enhancing manufacturing or delivery
methods.
•Business Model Innovation: Developing new ways to create and
deliver value.
•Technological Innovation: Incorporating cutting-edge
technologies.
•Cultural Innovation: Fostering a creative and open-minded
organizational culture.
The Innovation Mindset in Action: 3M Corporation
3M’s story is underpinned by a culture of innovation. In the 1920s, the

company made a groundbreaking leap with the invention of waterproof
sandpaper, followed by masking tape and, later, the revolutionary
Scotch tape. These were not just products; they were solutions to
everyday problems, a theme that would define 3M’s ethos.
But innovation at 3M was never a happy accident. It was fostered by a

unique corporate culture. In 1948, the company adopted the “15%
rule,” allowing employees to spend up to 15% of their work time on
projects of their choice. This policy led to the development of products
like Post-it Notes, highlighting 3M’s commitment to creativity and
internal entrepreneurship.
CASE STUDY ON INDIAN BUSINESS GIANT:TATA
Digital Everywhere' Strategy Will Drive Every Tata Company
Since N Chandrasekaran took over as chairman on

February 21, 2017, Tata Group has been trying to
resolve pending issues in group companies and
pivot their businesses by leveraging technologies,
including Artificial Intelligence (AI), data analytics
and Cloud computing
In the last 10 months, despite the Covid-19 related

sluggishness in the economy, the group has
launched four companies for new-age businesses.
• There are several key trends that are going to be very important as TATA will go into the future.
The first one is 'Digital Everywhere'. Every company, whether it is a manufacturer or a services
firm, B2B or a B2C, will be driven by AI, data analytics, Cloud computing and machine learning.
• The second is sustainability. Every company will have to be sustainable. They will have to go
beyond zero net debts.
• Third, every business and industry is becoming an ecosystem. It is not that you can create a
product and then try to sell it. You have to stop with the customer to understand his/her needs.
• And the fourth, the supply chain globally is getting rebalanced. In the past, supply chains used
to focus on efficiency, but now they have to be resilient, which means tough and elastic.
• Another key trend is changing consumer aspirations. Tata Group, through its various brands, has
a very large number of consumers. They love the brand and want to do business with the group.
But we need to offer them products and services that not only meet their requirements, but also
simplify their lives. The best way TATA can simplify lives is to build a digitally connected
enterprise, which will bring together products and services and all other needs of consumers so
that we give them what they deserve, require and desire.
Innovation
initiatives
by TATA
By embracing digitalization, entrepreneurship, and
innovation, businesses can drive growth, remain
competitive, and thrive in a rapidly changing
environment.

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DIGITALIZATION,

The technological environment for business is constantly

THIS REQUIRES AN UNDERSTANDING OF FACTORS

•Automation: Streamlining tasks and reducing manual intervention.

OLA TRANSFORMED IT SELF BY

PERCENTAGE OF IMPROVEMENT GRAPH

Entrepreneurship involves the creation and management of new

3M’s story is underpinned by a culture of innovation. In the 1920s, the

But innovation at 3M was never a happy accident. It was fostered by a

Digital Everywhere' Strategy Will Drive Every Tata Company

Since N Chandrasekaran took over as chairman on

In the last 10 months, despite the Covid-19 related

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