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Published: February 7, 2023
Author: Banashree Aribenchi

A remarkable case study of breakthrough initiatives to break free

It gives me immense satisfaction to share my experience while advising a 30-years old Indian family business in the manufacturing sector with Rs. 20 billion annual Revenue. By their own admission, the organization is now unrecognizable compared to what it was, when Eu Matter Consulting stepped in, 15 months back. You will hear directly from their head of this business in the next few days. Meanwhile here’s a rundown of our intervention. 

1. A unique combination: This engagement is a unique combination of (a) personally coaching the head of the business, and (b) advising and guiding the top leadership team towards organizational transformation.

2. Our practitioner’s wisdom: We brought the practitioner’s approach in our consulting, bringing the wisdom we acquired in our previous avatar as senior corporate executives – Sindhu SubhashiniZac ThomasPremal VasavadaMADHUSUDANABABU BV, and me. We have ensured that all our change advisory is not cookie cutter or idealistic, instead, it is highly calibrated keeping a close eye on the sustainability of change in this company. 

3. Our flexibility: Though there is a written contract with my company Eu Matter Consulting, we have been flexible, not limiting ourselves strictly to the contractual scope, depending on relevance and urgency.

4. Our corporate connect: Outside our contract, I have helped them connect with people from my business network, who would be useful to them. This has been an invaluable benefit to them, which cannot be translated in money terms. 

5. Coaching culture: My coaching has helped the head of the business (owner family member) to find the path to transform himself while leading the transformation of his business. He has been so impressed that he is now driving a coaching culture among his leadership team, with significant investment in coaching training for them.

6. Professionalization:  We guided them in the following critical areas:

a. Leveraged the top leadership talent – formed Executive Steering Committee (ESC) as an apex body; established RASCI and DoP towards empowerment and delegation.   

b. Revamped their existing HR policies making them contemporary and added certain policies essential for a professional organization; now moving fast towards HR digitalization (i. e. HRMS implementation); employees acknowledge the improved people management ecosystem now.

c. Co-created Purpose, Vision, Mission, and Values; established enterprise risk management (ERM) and risk-based strategic planning process and annual operating plan (AOP).

d. Established AOP-based Balanced Score Card (BSC) leading to a sharper data-based performance management process.

e. Transformed business reviews, aligning them to their Strat Plan, AOP, and BSCs to drive accountability.

7. Work environment: Their head office was in a poor condition with overcrowding, an unclean environment, and run-down facilities. They have now shifted to new premises close by, with far better office infrastructure, giving a boost to employee morale. Their factory was also in a shabby state. Much has been done to upgrade the factory. This upgrade is helping them more in easing approval of them as a vendor with their targeted prospective customers.

8. Leadership team development: We made a 2-pronged intervention. On one side we empowered the leaders, while we made them more accountable. On the other side, I took up several rounds of group coaching sessions to raise their leadership skills further in critical areas.

9. Business growth: The company grew by 8X in the last 8 years, and it is already 2X in last one year alone by virtue of a successful M & A implemented smoothly, much due to many of the initiatives taken, as mentioned above. 

10. Internal audit: We are helping them implement an internal audit process that would bolster management assurance and raise their corporate governance to a new level.

11. Finally, change management: We controlled the pace of change carefully. We made sure that the organization remains agile and entrepreneurial and does not become bureaucratic.

Contact us: https://eumatterconsulting.com/contact-us/

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