1. Introduction and business context
This research is based on the management special report on Wipro from the Conglomerate industry of the United Kingdom. The report has discussed the market structure of the company as well as the strategic model as SWOT analysis of the company. The report has also covered the company’s turnover and profits and current business performance. The present report added the details of the capabilities and how it will help to improve the company’s business performance for the future. The study included the concept of Emotional Intelligence and its importance in business. The report discussed the framework and implementation of Emotional Intelligence. Besides that, the study is preceded by explaining all the needs of emotional intelligence of CEOs of the company and the Impact of CEO’s IQ in business.
Wipro limited company is located in the United Kingdom’s heart place which is London and this company is a part of the conglomerate industry as well as a part of the Information Technology Services Industry. Wipro started its technological carrier in 1981 and started its business with over 160,000 employees and clients across 110 countries in the United Kingdom. The turnover of this company now leads to 8,681 from 31 of March 2019. The profit of the company now leads with its business performance and it was Gross Profit 1,559 FY in last 2018 year and for Covid-19 pandemic, it was decreed and held 1,382 FY.
The current business performance of Wipro was decreased for the pandemic situation. Therefore, they are adopting new strategies and plans and implementing them in their business to increase their productivity. Wipro was selected as a Leader in ISG Provider Lens and it will grow the product development in the market. This company is also referred for the Next-gen Application Development & Maintenance for the UK tech sector and in the UK Wipro leading the IT business industry in the market.
There are many strategic models followed by the Wipro limited company to improve their business performance. SWOT analysis of a company can analyse the company’s internal strengths, weaknesses, opportunities, and threats. It can summarise an indication of the future direction of the firm.
Table 1: SWOT Analysis
(Source: Vlados, 2019)
Strength: Continuous innovation is one of the biggest strengths of the Wipro limited company in the United Kingdom. According to Vlados (2019), technological improvement can develop the facility of the company to a global standard. Continuous innovation provides a good idea to create new products and services which can grab the attention of the customers. Adopting new media to share information with the customers is one of the great strengths to promote the business. According to Vlados (2019), Wipro started adopting new media to promote their business. Internet marketing is a part of leading new business in the company. It can easily grab the attention of the customers and convenience them to purchase the products. According to Vlados (2019), the well-skilled employee is also a great strength of the Wipro Company. The HR team of the company changed the employee policy which is sustainable and suitable for the employee.
Weakness: The Overdependence on the mature market can be the biggest weakness because the domestic market was underdeveloped. Therefore, Wipro cannot get the confidence to make new investments from investors. According to Vlados (2019), a good strong connection to the process refers to the company’s focus. It created pressure on the top management people for the decision-making process. Frequently changing the management team can make a bad impression on companies’ work culture.
Figure 1: SWOT analysis
(Source: Zaitseva et al. 2017)
Opportunity: Wipro focuses on the consultancy area of the company which is the best opportunity in the IT industry. According to Zaitseva et al. (2017), emerging new technology is one of the biggest opportunities to grab a big amount of productivity. It will increase the business rate in the market and the company will generate revenue. According to Vlados (2019), Wipro sets its management system with proper planning and they are deciding on the company’s business. There are many domestic markets available and as a global company, Wipro can take a step to lead all the domestic markets and increase their market share.
Threats: the high-cost human capital refers that in the IT industry recruiting people is the costliest process. The HR team should think before recruiting any candidate about profitability of company. In global market, there are so many competitors present to challenge the Wipro market such as amazon, Morrisons and Alphabet.
There are several capabilities are present to analyses the company’s business performance in the future. This study concluded two capabilities for analysing the business performance of Wipro and for its future business too.
Creativity and innovation
Continuous creativity and innovation are one of biggest strengths of the Wipro limited company in the United Kingdom. Technological improvement can develop the facility of the company to a global standard. Continuous innovation provides a good idea to create new products and services which can grab the attention of the customers. Creative thinking is a process to adopt new planning and strategy to a company’s growth and achieve the aim of the company and success. According to Yasodha (2021), creativity and innovation is a modern business strategy that can learn something new and experiment and achieve success. Wipro started a long-time strategic innovation process with the partnership of Abode.
Decision making and Problem Solving
Decision-making and problem-solving is a process that is mostly done by the company’s management team. Therefore, company should always have a strong internal management team who can make the right decision for company’s business. According to Singh (2017), the management team should have a crisis management plan to manage a crisis movement. It will support companies to help and improve the company’s business performance in the future as a result the company will be able to get its success.
Emotional intelligence (IQ) refers to the better understanding and motivates the other people of the business-like workers, employees, stakeholders, shareholders, and more. According to Putra, Rahayu, and Putri (2021), emotional intelligence helps the company to work cooperatively with team members. It is an essential skill and it should develop every management person in the company to drive the business on the right path. According to Putra, Rahayu, and Putri (2021), emotional intelligence is a skill that everyone should improve upon. There are so many domains of emotional intelligence thus here discuss Daniel Goleman’s model to better understand Emotional Intelligence. This model has five realms,
- Know your emotion
This is the important part of skill development in emotional intelligence. This part is focused on understanding oneself. According to Putra, Rahayu, and Putri (2021), in a company, a CEO should have the potential to make a clear understanding about own emotions. Therefore, the person can lead the organization and keep a clear understanding of the company’s goal.
- Manage your emotion
This skill is to develop the personal confidence of a person thus the person can take responsibility for others. According to Putra, Rahayu, and Putri (2021), a company CEO should have control over personal emotion to guide the other employee in their work. In some cases, there are some employees from the personal relationships that time the CEO should treat them as the other employee and should not make any difference with them.
- Motivate yourself
This skill develops the idea to encourage personal self to work and think differently for making good decisions. According to Putra, Rahayu, and Putri (2021), creativity and innovation is a part of developing motivation and it works as a good idea to create new products and services which can grab the attention of the customers. Creative thinking is a process to adopt new planning and strategy to a company’s growth and achieve the aim of the company and success. A CEO of a company should always have these skills to motivate other employees in the company.
- Recognize and understand other people’s emotions
This skill will develop the idea to understand the emotion of the other to know what their need is. According to Putra, Rahayu, and Putri (2021), a company’s CEO should have the idea to understand the needs and the requirements of their target audience and the employees of the company. It will help the company to achieve the company’s goal.
- Manage relationships
These skills will develop the relationship between the company and the outsiders of the company like stakeholders, employees, and customers. It will also manage the reputation of the company in the market.
Self-awareness is a process to know about personal space and needs. This is the important part of skill development in emotional intelligence. This part is focused on understanding the personal self. According to Putra, Rahayu, and Putri (2021), in a company, a CEO should have the potential to make a clear understanding about own emotions. Therefore, the person can lead the organization and keep a clear understanding of the company’s goal. Wipro should have the implementation of Self-awareness in CEOs’ potential skills to develop the idea of marketing.
Self-management is a process to manage the personal feeling and personal attitude to decide any related to the company. This skill develops the idea to encourage personal self to work and think differently for making good decisions. According to Putra, Rahayu, and Putri (2021), creativity and innovation is a part of developing motivation and it works as a good idea to create new products and services which can grab the attention of the customers. Wipro should have the implementation of Self managements in CEOs’ potential skills to develop the idea of marketing and decision making.
Figure 2: Emotional Intelligence framework
(Source: Putra, Rahayu and Putri, 2021)
Social awareness works for the environment and social issues. Companies should have the proper plan to develop their business without harming any person or against any social norms. Wipro should have the implementation of Social Awareness in CEO’s potential skills to develop the idea of decision making or any kind of business growth. The management of the company should always have a plan to deliberate in the market without harm socially.
These skills will develop the relationship between the company and the outsiders of the company like stakeholders, employees, and customers. It will also manage the reputation of the company in the market. Wipro should have the implementation of relationship management in CEOs’ potential skills to develop the idea of maintaining good relationships with the company are other people.
The company’s CEO is the chairman of the company who has taken the all decision for the company and selected the employee and gives them work accordingly. Therefore, the company CEO should use all the potential of good Emotional intelligence to drive the company to a good and perfect path. According to Kolesnikova and Kubiliūtė, (2021), the Wipro CEO should have the skills to adopt good Creativity and innovation skills and Decision making and Problem-Solving skills to capability.
The Chief Executive should have the potential to promote the business in the business press conference and on social media. According to Kolesnikova and Kubiliūtė, (2021), adopting new technology is also a very good initiative to take for the new business thus the CEO of the company should have the idea of adopting a new strategy and have a better understanding of implementing them in the business. According to Kolesnikova and Kubiliūtė, (2021), the good performance of a company depends on the emotional intelligence of the CEO of the company. The CEO should have the potential to make a clear understanding of their emotions. Therefore, the person can lead the organization and keep a clear understanding of the company’s goal.
Creativity and innovation can be defined as creative thinking is a process to adopt new planning and strategy to a company’s growth and achieve the aim of the company and success. Innovation is a process to adopt new ideas and creativity in a new concept and use it for business growth. Technological improvement can develop the facility of the company to a global standard. Continuous innovation provides a good idea to create new products and services which can grab the attention of the customers.
Wipro Limited is a digital business and it is a leading Information Technology company all over the world. Therefore, to expand its business Wipro has started to hire employees to enhance the creativity of ideas and started to implement them for innovation. According to Sutapa, Mulyana, and Wasitowati (2017), in the past 12 months, the company hired 600 employees from the United Kingdom market thus now in 2017 Wipro have 4000 employees in the United Kingdom. The company stated its aims to grow its business and compete with the other IT companies. Companies adopt new strategies, hiring employees to make a strong engineering team, design the framework, and make good relations with clients to create new creative ideas to implement in the company’s planning. According to ZA, Darma, Ratnasari, and Tasenţe (2020), the senior vice president of Wipro digital stated globally that the United Kingdom at London has a good reputation.
Componential Model of Creativity and innovation
The Componential model is stated as an important framework of creativity and innovation individual and in companies to expand the business. This model was developed in 1983 by Teresa Amabile, this model included the social and psychological area of the company to produce creative work and innovation. According to Song, Wang, and Ma (2020), the company should think before starting any creative idea that is to motivate a person with good skills and emotional intelligence. That person should work with high domain expertise, and that person can think and work in an environment to support creative thinking.
Figure 3: Componential Model of Organizational Creativity and Innovation
(Source: Song, Wang, and Ma 2020)
The model has three content to follow –
- Organizational motivation
The organization should follow the basic two sites to achieve the motivation of the internal company. The first one is the basic need and orientation of the company’s innovation according to the company’s aims and objectives. According to Song, Wang, and Ma (2020), the second site is to support the employee and the management team to think creatively and innovate the ideas throughout the company. Wipro should have the implementation of Organizational motivation potential skills to develop the idea of creativity and innovation.
- Management practices comprise
The company management team should have a crisis management plan to manage a crisis movement. It will support the companies to help and improve the company’s business performance in the future. According to Song, Wang, and Ma (2020), the management team should support the employee in different challenging work and they should take the responsibility to confirm by the other managers of that challenging work and the ideas to rescue the company’s reputation. Wipro has a good management team to support their employees and they have good skills for teamwork management.
- Resource for creativity and innovation
Resources for a company’s creativity and innovation include producing the work for a sufficient period in the domain. According to Song, Wang, and Ma (2020), the funds for the creative work and the people with expertise, materials for the work, relevant information about the work to proceed. Wipro has all the minerals and elements to do their creativity research for their company.
Strength and weakness
- The biggest strength of Creativity and innovation can give knowledge and experience to the company to develop the professional skills to the team of the company. Wipro Company gets the knowledge about adopting new technologies and ideas for the company and the employees are faced with many good and bad situations to innovate. It has shared great experiences with the employees of the company.
- Reputation management is one of the biggest strengths of the creativity and innovation capability to maintain a good reputation in the market of an organization. Wipro adapted many innovative ideas to achieve the goal of the company and the innovation is AI in the fight against cancer patients, winning in the new normal, Tec fusion and innovation, pandemic Aid worldwide, and Blockchain for the future.
- Budget is one of the biggest weaknesses of the Creativity and innovation capacity. The company started adopting new ideas and technology for innovation and the budget of the company will increase. It can be the biggest threat to the Wipro company’s financial status thus companies should take care of the work budget during adopting some innovation projects.
Wipro Company stands for good creativity and innovation and the confluence of the culture gives a good idea to all over the world to meet the costumes needed digitally. Wipro started several innovative ideas to expand its business globally. The company started innovative ideas to sketch transformative technologies and it includes the 5G, and artificial intelligence, crowdsourcing, blockchain, robotics, and cloud computing. Wipro started its partnership business with Google, Citrix, Adobe, IBM, and AWS. According to Kremer, Villamor, and Aguinis (2019), Wipro started its partnership business with Google, Citrix, Adobe, IBM, and AWS. There are also some innovative and creative ideas adopted by Wipro and the company started work with their partners and consumers. Wipro launched many new ideas and products for innovation, such as, AI in the fight against cancer patients, winning in the new normal, Tec fusion and innovation.
Wipro started a long-time strategic innovation which benefited the company to process with the partnership of Abode. Wipro developed global brands to deliver designable experiences with high velocity to the customers. Wipro continues innovative ideas improved to sketch transformative technologies, and it includes the 5G, and artificial intelligence, crowdsourcing, blockchain, robotics, and cloud computing. With the benefits of adopting creativity and innovation as a capability in Wipro limited, the company will expand its business in the United Kingdom’s market widely. Wipro Limited is a leading IT industry in the United Kingdom and its creativity and innovation is a modern business strategy that can learn something new and experiment and achieve success.
Decision making and problem-solving are defined as a decision that is most of the time taken by the management team members of the company. According to Haendler and Frysak, (2018), if there is a crisis happening in the company’s reputation or products the problem-solving team or the crisis management team will decide on how to handle the situation. The management team should have a crisis management plan to manage a crisis movement. It will support the companies to help and improve the company’s business performance in the future.
Wipro analysed its decision-making process and problem-solving skills depending on some analytics solutions and implemented some ideas of market processing. The solutions are
Wipro has most of the health care companies as leading clients in the United Kingdom. According to Zhang, Chiclana, and Yu (2019), Wipro serves pharmaceutical products and medical products, and technology to more than 100000 locations. The company thinks about the client’s background to make any kind of decision related to productivity or the services.
Analysing technology and trends
Analysing the technology of the company and the trends in the market can help the company to take any kind of decision-related to launch a new product or service. According to Mou, Xu, and Liao (2017), Wipro has good technology services therefore the United Kingdom’s market needs digital services most of the time. Thus, Wipro decided to connect their customers digitally and provide them with all digital services.
Most of the companies in their internal problem or the external problem they are using these ingredients for problem-solving and decision-making process. According to Yahaya, and Yusuf, (2020), problem-solving and Decision-making process there are some Key Ingredients to give a company the Best Possible Solution in any crisis.
Figure 4: Key Ingredients of Problem-Solving and Decision Making
(Source: Yahaya and Yusuf, 2020)
Analyse the problem
Before a company fixes an issue, they need to analyse the problem and know the reason why this crisis happened. This part will most of the time be analysed by the Crisis management team to handle all kinds of issues. According to Yahaya, and Yusuf, (2020), they analyse the source of the problem and research how this crisis can affect the company’s performance. Wipro has its immediate crisis management team to manage the internal and external crisis in the company.
The company at first knows about the problem and the source of the problem. Then the company’s crisis management team will work to collect the whole information related to the crisis and take the step to analyse the information about how the crisis will be created. According to Raadschelders and Whetsell (2018), Wipro’s crisis management team will work on the continuous research of the upcoming crisis and analysing the source of the crisis, and work on improving the crisis sources.
Brainstorm a solution is a process to develop the ideas and solution of the crisis which is taken by a discussion with the management team and the employees. Wipro’s crisis management team has a good relationship with the other internal people. Before they make the decision, they discuss it with the project employee and the management team.
Weigh pros and cons
The crisis management team will analyse the Pros and Cons of the solution which is taken by them for the crisis management. Deciding for the company is a huge responsibility and one wrong decision can make a big mistake and can affect the productivity, reputation, image of the company. Therefore, the crisis management team will work on a SWOT analysis for that particular crisis and make a deception of it.
Decide on a solution
Making a solution can refer to the decision-making process for the crisis, and it is the ultimate step of this model. Wipro has a good crisis management team to maintain a good reputation plan and to take the right decision. That is why Wipro maintains its position as a leading company in its industry.
Strength and weakness
- Skills development is one of the strengths of the Decision-making process and problem-solving process. It develops the decision-making power of a person which also increases self-confidence and motivates them to take responsibility for the company.
- Decision-making and problem-solving processes increase the Teamwork skills in every organization between the managers and the employees of the business.
- Reputation management is one of the biggest weaknesses of the decision-making process and problem-solving process. Deciding for the company is a huge responsibility and one wrong decision can make a big mistake and can affect the productivity, reputation, image of the company.
Decision making and problem-solving is a capability of Wipro company which has a great impact on its reputation and maintaining a big position in the IT industry. Wipro has adopted many ingredients to develop their problem-solving skills and take the right decision for any crisis. This company has a good crisis management team, and they maintain good relationships with the other internal people. Before they make the decision by discussing it with project employee and management team.
The benefits of decision-making and problem-solving as a capability of Wipro limited benefited the company to maintain its position in the United Kingdom Market as a leading company in the IT industry. Wipro has a good crisis management team to maintain a good reputation plan and to take the right decision. That’s why Wipro maintains its position as a leading company in its industry. The management team of Wipro has always prepared a crisis management plan to manage a crisis movement.
This part of the report was analysed by the Reflection based on previous job roles and it added the Self-assessment knowledge of a student based on education. Psychometric Questionnaire knowledge and its needs are discussed in this part.
Based on the report which has been conducted based on Wipro, I can state that in my previous company I gained some knowledge and experience about the capacity of an employee. As a fresher, I have only experience of teamwork and a bit of knowledge about the organization and networking of the company. My previous company was extremely focused on new ideas and innovation to achieve the goals. Therefore, as a fresher, I did not have any experience in the creativity and innovation part. Thus, my seniors and the other colleagues helped me to understand the benefits of it.
I found the management team of my previous company was not that strong to manage a crisis movement. The company faces several challenges related to reputation management and productivity. The wrong decisions and weak problem-solving ideas are one of the major reasons to face this loss. Through observation and experience, I thought to improve my decision-making and problem-solving capability and focused on creativity and innovative ideas.
Based on this report which has been conducted based on Wipro, I can state that I know the strategic models and theories of several capabilities to develop in myself. As a student, I have learned about theoretical knowledge and the all-theory part to develop for the career. I have knowledge about conflict management and knowledge for implementing new ideas and creative thinking. Based on this report which has been conducted based on Wipro, I understand the benefits and importance of Emotional Intelligence skills in everyone’s life. As a student, I have to improve my own emotions and manage the personal emotions to develop my emotional intelligence. Recognizing and understanding other people’s emotions is an important skill for a student to analyse their capability. Emotional intelligence is a skill that everyone should improve upon.
Continuous innovation provides a good idea to think differently which can grab the attention of everyone. Creative thinking is a process to adopt new planning and strategy which can improve a student’s brain work and it will help to analyse the aim of the student’s life and success.
The Psychometric Questionnaire test developed its idea in the early 20th century by the French psychologist Alfred Binet in 1905 when he did his first intelligence test. According to Stecz (2019), Psychometric Questionnaire is a processing field to gather information about the research topic. It includes the theory and the technical part of the research topic and analyses the education and psychology on the measurement, testing, and assessment-related activities.
Every company when they are hiring people, they are serving a Psychometric Questionnaire to test the ability of the candidate. Here the candidate should fill up the whole details of their experiences. A psychometric Questionnaire is a scientific method to analyse the employee by the organization.
I have acquired many strategies that can help in improving my performances in the future when I will participate in the job sector. Improvements can be made in the performance by adopting different strategies and focusing on the goals and aims that are the main requirement of the company. As per the view of Zhang et al. (2019), improvement in performance strategy is done by optimizing the parameters of the company. Apart from that proper utilization of the management process and methods should be done for enhancing and improving the performance.
The creative and innovative facts can be developed further in the organisation, Wipro only when the working environment is creative and open for making new innovative ideas that can be used for developing the company’s performance. Proper management of the entire team should be done according to which the workers can be allocated appropriately as per their skills and resources for conducting any particular task. As per the view of Hughes et al. (2018), creativity and innovation are the key requirement for enhancing the skills of the employees. Although, there should be proper knowledge provided to use the tools and technologies that are associated with the company. Thus, this can help in enhancing the skills and resources of the workers and it will result in making improvements in the overall performance of the company.
Appropriate decision-making can be conducted with the complete involvement of the workers of the company and the management system of the company. However, providing proper chances to every employee in the company can help in providing different suggestions that are provided as per different perspectives. As opined by Kumar et al. (2017), in the process of decision-making different objectives are observed that can make an effect on the company. The initial focus should be given towards the problem thus it can help in observing the problems clearly and proper discussions can be conducted on the issues. Proper management of time should be done, over-consuming time in decision-making can lead to many new problems.
The strategies that are acquired for improving the performance by adopting and developing creative and innovative ideas. However, this method can help me in developing my innovative ideas and creativity. Developing these factors can help in having broad thinking about any particular topic and generate new ideas to meet the requirements. When participating in any of the job fields, is a beneficial term as it will help me in improving working quality and it will increase productivity of the company.
However, knowing the terms of appropriate decision-making is beneficial because decision-making is a very essential step in executing the company. The process of decision-making helps in enhancing the term teamwork because appropriate decision-making is only done when the involvement of all the team members is done equally and the values are given to the views of each member.
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