The only way to fight the sluggish economic situation is to innovate our way out of it!
How will the present economic scenario impact your business and talent strategy?
While we are facing some challenging times on the political and economic front, I believe we will sail through. The need of the hour is quick and tough decision-making by our leaders to accelerate the sluggish economy. While a slow economic growth will impact all businesses, we do see this as a great time for companies to invest in our software products to enhance efficiency and provide better return on investments. India is a key geography for SAP and we believe that the favorable conditions we find here will continue in the years to come. With respect to our talent strategy, there has not been any change. We have recently started hiring from campus, and we will continue to hire as planned and will honor the commitments made.
How are you responding to meet these challenges?
We are consciously keeping an eye on the economic situation while being judicious with our spend. Being a company that is purely driven by innovation, our investment in R&D continues. We believe that the only way to fight the sluggish economic situation is to innovate our way out of it!
What role must leaders play to ensure business sustainability and growth?
The real test for leaders is how they react in a tough situation. During good times, it is easier to be a successful leader as the market forces help you tide the wave. However, real leaders emerge when moving against the tide. Leaders in India Inc. should rise up to the challenge and take policy initiatives that will give some impetus to the sluggish economy.
What are the learnings from the previous crisis that can help leaders today?
The biggest learning is that every organization needs to be driven as if there is an economic crisis all the time. We should always make an effort to do more with less. This does not mean we do shy away from spending - it is the contrary – spend, but ensure that there is value for money. Reduce waste as much as possible.