Post on 25-Jun-2015
Managing Profitable Growth in Tough Times
23rd August , Kotak CEO Seminar,
Noida
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What worked in Normal Times Will not work in Tough Times!
Creating SMART Goals – MAGNETIC NORTH
Profitable Business GROWTH - revenue, geographic spread, products, services
Transformation and CHANGE – taking the next STEP
Attracting and retaining the right HUMAN RESOURCES
Managing Business professionally driven by PROCESSES
Corporate Governance, ETHICS & Compliance
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Common Purpose – Magnetic North Revisiting Vision and Mission of the Company Clarity on short and medium term business plan Making SMART Goals for the Organization
All “ducks in a row”
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SMART GOALS
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Profitable Business Growth Be realistic.. Go Step by Step Align decisions and actions with the business plan Be Consistent and Focused Optimum Utilization of Resources (4 Ms of Business) Growth generally follows an “S” Curve
Convergence in Purpose, Plan and Action
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APPLY SIX THINKING HATS
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INCREASE SALES AND DECREASE COSTS
Try Social Media Marke1ng, Use ERP & Cloud for CRM Increase your Sales Funnel-‐ Revisit all old customers, Market Product USP, aTer sales services,
Revisi1ng your lost customers, an1cipate tomorrow’s products,
Ra1onalise Compensa1on Packages Grade People A,B,C & D-‐Knock out boYom 20% Explore Outsourcing the non-‐cri1cal func1ons Do re-‐cos1ng and try to maintain/beYer margins
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TRY CHEAPER FUNDING
Give beYer CD for quicker sales realisa1ons Give higher raw material price for longer payment terms from Vendors
Relook at the Branding and Marke1ng expenses
Do Budge1ng, Actual V/s Budget and Variance analysis for all cri1cal func1ons
Look for M&A for consolida1on and growth
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Change Management
Adaptability & Flexibility to change in tough times Responsiveness to markets, customers, society Continuous Improvement (TQM) in Product,
Services, Processes Luck = Preparation + Opportunity grabbed
Change is the only constant in Life
Talent Management Organisation structure in line with Business
Strategy and Business Plans Review organisation on competence, skills and
right fit – Best time to shed fat Risk & Reward based compensation structure Poach Good Talent Cheaper Use the down time for empowering People Use 0.5x2x3 Formula
Employees first.. customers second
Strengthen Management by Processes Review critical action defined by process with
periodic feedback and suggested improvements Upgrade IT and MIS for monitoring performance
and variance analysis and create Dashboard Evaluate Business Risk & Management Process
Corporates are run by processes
Corporate Governance
Maintain Highest level of Regulatory Compliance
Conduct Business with Ethics & Get Benefits Be Responsible towards Society & Environment
This is enough Corporate Social Responsibility
Saral Samadhan Visit our website for FREE diagnosis of your
business SmartHead makes the Tough Times easier We understand your constraints and walk with you
to succeed
www.smartheadconsulting.com
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CONCLUSION
Visit us at www.smartheadconsul1ng.com
TOUGH TIMES DO NOT LAST BUT TOUGH PEOPLE DO.
WHEN THE GOING GETS TOUGH THE TOUGH GET GOING.
THANK YOU FOR A PATIENT LISTENING