Assignment: Formulation of business strategy and assistance in execution to enhance and steady profitability and growth for a mid-sized Indian company engaged in manufacture of high precision cutting and grinding tools
Client: Mid-sized Indian company engaged in manufacture of high precision cutting and grinding tools using diamond and other super abrasives. The client is a joint venture between an Indian market leader in abrasives and a highly regarded specialist German super abrasive tool manufacturer.
Assignment: The Company’s growth and profitability was respectable but had been fluctuating during the previous five years. The assignment envisaged formulation of business strategy and assistance in execution so that profitability and growth would be enhanced and steady.
Project: Assisting the Company to formulate and execute strategy for competitiveness and growth.
- After assessing the nature of client’s business, market context, challenges and opportunities, commenced their strategy formulation process with two workshops for all senior managers of the Company. Workshop content and exercises were anchored in two models: Porter’s Five Forces and Resource Based View of the Firm. Using these and other theoretical frameworks senior managers worked in cross-functional teams to formulate business and functional strategies. Facilitated and provided course correction.
- Strategy was cascaded to a number of initiatives in areas such as customer value, sales growth, improvements in inventory and sundry debtors, product development, exports, etc. Each initiative was assigned to a project group. They were guided, progress reviewed and fresh milestones set with the CEO’s direct involvement. These projects and initiatives formed the methodology of strategy implementation in the organisation.