Technological advancements and digital transformations are increasingly shaping today’s business landscape. To address the challenges businesses will face today and into the future, current and future leaders must integrate their technical and business knowledge.
Leaders who do so will be able to make important decisions that balance technological feasibility, market viability, and strategic alignment. They will also be able to better identify and mitigate risks, bridge communication gaps, and foster innovation. Identifying and seizing opportunities that drive growth and create value will also allow these leaders to steer their organisations towards sustainable success in an ever more digitalised world.
Although India is renowned for its technological and engineering capabilities, with large numbers of Indian engineering students graduating each year, the country faces a complex challenge regarding electric vehicles (EV). The benefits of integrating EVs into the mainstream transportation system are clear; a reduction in fossil fuel dependence and pollution – yet India still faces difficulties in making this a reality.
- From the market perspective, consumers are concerned when it comes to considering an EV’s range, charging time, and upfront costs. Marketing strategies and education alone are insufficient to build trust, so governments must also put supportive policies and regulatory frameworks into place that incentivise adoption and address safety concerns.
- When it comes to supply, a widespread, reliable network of charging stations requires substantial investment and coordinated efforts between the government, private sector, and energy companies. Additional investments in battery R&D and manufacturing are also needed.
In India, Tata Motors has been leading EV roll-out with models like the Tata Nexon EV. However, the company has faced difficulties scaling up production and meeting demand amid supply chain constraints and infrastructure limitations.
Addressing a complex challenge requires creativity and a multi-faceted approach. To do so, Tata Motors has been collaborating with the government, energy companies and technology firms to secure policy support, develop charging infrastructure, and enhance battery technology.
This makes it clear that success depends on leaders who can blend their technical knowledge of EVs with strategic business insights to navigate the complex landscape and drive the adoption of sustainable mobility solutions in India. Therefore, access to education that involves developing technical and business skills is vital to enable leaders to navigate these issues.
Increasing access to business education, complemented with technical knowledge, will enable the development of a pipeline of leaders who can reimagine and benefit the future.
The author is the Director of MBA programs at ESMT Berlin, Germany
