Every day new companies are born, and for many of these emerging entities, one goal dominates: find large-scale success. How exactly does a company go about that, though, and what are some of the challenges if the company is truly starting from the ground up?
The story of Stevie-winner DATA Inc., a total IT solutions and services provider based out of Montvale, New Jersey, United States, provides some valuable insights into these very questions.
A Brief History of DATA Inc.
DATA Inc. began in 1983, when Arun Verma, a retired officer in the Indian Army, immigrated to the United States and began a small consulting firm in the basement of his home. Beginning as a one-person operation, Verma’s vision grew into a company that thrived over the subsequent decades. It currently has several hundred employees and multiple locations throughout the United States, as well as in Europe and India. The business also provides talent to several prominent Fortune 500 companies.
Using DATA Inc. as a model, how can other companies successfully transition from a small basement operation to a global entity? Here are three tips other businesses can adopt.
Companies are increasingly embracing the idea that moving forward in today’s global market requires the input, voices, and insight of all demographics, and DATA Inc. has certainly embraced this need for diversity.
“As a certified minority business enterprise (MBE), DATA Inc. understands the importance of a diverse and inclusive workforce,” says Deepali Schwarz, the director of corporate affairs at DATA Inc. “We are an equal opportunity employer, and the more than 350 people that make up our U.S. team come from dozens of backgrounds and nationalities, spanning six continents.”
The company is particularly cognizant of the importance of including women not only in the company but in prominent leadership positions.
“Women play many important roles at DATA Inc.,” says Schwarz. “Our senior management team is comprised of 40 percent women and 80 percent minorities.”
An increasingly robust cache of data backs up the soundness of these business practices. McKinsey & Company, a management consulting firm, released a report entitled “Delivering through Diversity,” and the document asserts that companies in the top 25th percentile for executive gender diversity are an impressive 21 percent more likely to enjoy above-average profits. These benefits also don’t stop at gender. Companies with ethnically and culturally diverse C-level personnel were 33 percent more likely to experience above-average profits.
No matter what your company’s industry, adaptability to market fluctuations is essential to continued success, and in rapidly changing industries, such as technology, this becomes even more crucial.
“With the prevalence of cloud computing and the internet of things, along with social media and mobile technology, the global competition for talent has become more intense,” says Schwarz. “As we look toward the future and the new and exciting developments taking place, we remain committed to engaging the right mix of people and technology in order to understand targets and to provide the right solutions to fit company needs.”
This attitude demonstrates that adapting to changes is beneficial, but that adaptability should also be coupled with a steadfast dedication to the company’s core goals, beliefs, and practices.
Entering into a business venture without drive and passion is a recipe for poor results, but DATA Inc. is an example of what can happen when those qualities are integrated into the company culture.
“A veteran founded DATA Inc., and we continue to have many veterans in senior leadership positions today,” says Schwarz. “The principles of discipline, honor, sacrifice, and selflessness are definitely reflected in our day-to-day operations.
“DATA Inc. started from extremely humble beginnings: the basement of the president, an immigrant who came to America with almost nothing but the will and determination to succeed for his family. Through tireless efforts, the whole team worked hard to make us what we are today.”
Recognition Validates Practices
DATA Inc. recently earned a Silver Stevie® Award in the category of Minority-Owned Business of the Year at The 2019 American Business Awards® in New York City. In addition to being honored, receiving this accolade helps validate the idea that the company’s business practices are successful and can serve as blueprints for other like-minded companies.
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