Mriganki Tyagi is an entrepreneurial leader skilled in turning ambiguity into action and driving business growth. She excels in unstructured environments, with expertise in strategy development and execution. Passionate about building agile, capable organizations, she fosters talent and ensures long-term success.
In a recent conversation with Women Entrepreneurs Review, Mriganki shared her insights on balancing immediate revenue opportunities with long-term strategic investments, highlighting emerging trends in e-commerce. She discussed how businesses can foster agility, prioritize experimentation, and cultivate entrepreneurial thinking while aligning teams with the overall strategic vision in dynamic environments.
In the rapidly evolving e-commerce landscape, how do you perceive the balance between immediate revenue opportunities and long-term strategic investments? What emerging trends do you believe are shaping the future of e-commerce, and how can companies effectively navigate these trends while maintaining a robust long-term vision?
Echoing the ever-evolving consumer sentiments in India, the e-commerce segment as well is growing at a rapid pace, with the technological advancements as well as the growing digital ecosystem today.
Balancing immediate revenue opportunities with long-term investments in e-commerce requires agility, innovation & strategic clarity at its core. It involves leveraging quick wins by using real-time data analytics to understand customer behavior and preferences to quickly adjust their actions and plans to capitalize on emerging trends, FAD’s, online events & counter competition tactics in the short term. Whereas for long-term sustainable success; strategic investments in innovation, and creating talent & technology ecosystem that’s fit for the future is critical. To navigate these trends effectively, companies should align short-term actions with long-term goals, stay informed and adaptable, and maintain a customer-centric approach. This balance helps in seizing immediate opportunities while fostering sustainable growth and resilience.
How do you integrate long-term vision with day-to-day e-commerce operations in a way that ensures sustainability and scalability?
At Colgate-Palmolive, we believe that e-commerce and the opportunities provided by it are pivotal for our growth, as it catalyzes premiumization and a platform for innovation. This clarity enables us to establish guiding principles and frameworks while also providing enough flexibility to adjust our plans as needed for day-to-day business requirements. Through this, we are positioned to make a positive contribution in line with our goals, while also enabling us to scale our business in a sustainable yet profitable way.
In what ways can e-commerce businesses foster a culture of agility and innovation when operating in ambiguous or rapidly changing environments? How do you prioritize which areas to experiment with or pivot on, especially when dealing with limited resources or competing business objectives?
To foster a culture of agility and innovation, we believe that we must create a safe environment for our teams, that prioritizes experimentation with rapid yet effective feedback loops. Teams are encouraged to use data analytics to make informed decisions, optimize processes, and adapt strategies quickly based on real-time insights. They are encouraged to make decisions within their scope of test and learn. We also equip them with tools and invest in ongoing training and skill development to keep them updated with the latest technologies, trends, and best practices in e-commerce. We prioritize experiments and investments based on the size of opportunity & its alignment with goals. We start with small pilot tests; and establish clear metrics to judge success and its impact on maximizing returns on investments.
What methodologies do you employ to identify hidden or unconventional growth opportunities in the e-commerce space? How do you evaluate the potential impact of these opportunities and decide which ones to pursue, especially when traditional metrics might not be applicable?
Currently at Colgate, when looking at approaching any new opportunity, we begin by identifying the same through a systematic process that starts with leveraging strategic data analytics and conducting quick market research. We analyze sales trends, customer feedback, and industry shifts to uncover new needs and potential gaps. By utilizing advanced technologies such as AI for predictive analytics, big data tools for comprehensive insights, and CRM systems for customer interaction analysis, we gain a clearer understanding of opportunities. Along with this, we also review our global innovations and consumer learnings to ensure a well-rounded perspective. Collaborative brainstorming and pilot programs help us refine and test new ideas. To evaluate the impact of these opportunities, we implement A/B testing and use BI tools to measure performance metrics against key benchmarks, ensuring that each opportunity contributes effectively to growth and operational efficiency.
How can e-commerce businesses build an infrastructure that is both flexible and resilient enough to adapt to future technological advancements and market disruptions? What are some key components or strategies that you believe are essential for creating a future-ready e-commerce platform?
E-commerce platforms have a unique model that is defined by agility and scalability. Therefore, with a keen understanding of consumer preferences, supported by data analytics, e-commerce companies would be able to predict trends, and therefore stay ahead of the curve. Strategic partnerships with brands partners and global organizations can help in creating a stable support system for media income and world-class product assortment. Local sourcing and manufacturing for private labels help to provide stronger control & cushion from global distributions. Further, creating efficiencies across their model through payments, security, supply chain, and deliveries, as well as customer engagement would also benefit them in the long run. Along with this, COVID-19 and other events over the past few years have taught us the importance of keeping geo-political and other black swan factors in mind for business longevity. Therefore, preparedness exercises and frameworks, especially given the flexibility and malleability of e-commerce platforms, would be essential to ensuring business continuity for the future.
How do you cultivate a team dynamic that supports entrepreneurial thinking and independence while ensuring alignment with the overall strategic vision? What leadership practices have you found effective in nurturing a culture that thrives in less structured environments?
To drive a positive work culture in less structured environments, start by first fostering an entrepreneurial mindset and independence within their teams. Encouraging flexibility and autonomy enables teams to innovate and adapt while promoting cross-departmental collaboration enhances problem-solving and teamwork. Employing agile practices, such as iterative cycles and task prioritization, supports effective workload management and adaptability. However, to further support and develop a thriving team some practices that can support this include establishing clear goals and communicating openly about the vision and goals, on an individual, team, and organization level. These, I believe, form the foundation for any team, as it fosters innovation and motivation. Additionally, maintaining a transparent, open-door policy, facilitating frequent interactions with leadership, and consistently recognizing employee achievements build stronger relationships and boost morale. Investing in professional development through targeted training ensures ongoing engagement and progression. Creating a supportive and inclusive environment enhances job satisfaction, and leveraging technology for collaboration and performance tracking improves efficiency. Together, these strategies foster a dynamic, motivated, and high-performing team.
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