Managing Profitable Growth In Tough Times

Managing Profitable Growth in Tough Times

23rd August , Kotak CEO Seminar,

Noida

-‐SmartHead Consul1ng Proprietary and Confiden1al-‐ 2

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


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”


SMART GOALS


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


APPLY SIX THINKING HATS


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


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


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


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