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LASSIB - 2013 Industry advisory report on strategy development preview

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    Industry advisory report on strategy development   preview Industry advisory report on strategy development preview Document Transcript

    • 2013 INDUSTRY ADVISORY REPORTONSTRATEGY DEVELOPMENT
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 2 | © 2013 LASSIB Society, All Rights ReservedTable of ContentsForeword .........................................................................................................................................................3Introduction to the Panel..................................................................................................................................4Snapshots from the LASSIB Society CXO Round Table Conference.....................................................................5Executive Summary..........................................................................................................................................61. Current State of Strategy Development................................................................................................82. Industry Challenges............................................................................................................................103. Interventions needed.........................................................................................................................144. Opportunities ....................................................................................................................................165. Crafting a Sustainable Future.............................................................................................................186. About LASSIB Society.........................................................................................................................217. About LASSIB Society CXO Round Table Conferences..........................................................................218. LASSIB Society CXO Round Table Conference Supporters....................................................................229. Other Contributors to the LASSIB CXO Round Table Conference.........................................................2210. How you can leverage and support LASSIB Society .............................................................................23COPYRIGHT©2013 No part of this document may be modified, deleted, or expanded by any process or means withoutprior written permission from LASSIB Society.This report has been made possible with the support of LASSIB Society partners.
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 3 | © 2013 LASSIB Society, All Rights ReservedFOREWORDWelcome to the Industry Advisory Report on Strategy Development. This report captures the synopsis of thediscussion and analysis held by the panel on Strategy Development at the LASSIB Society CXO Round TableConference held in Hyderabad in 2012. The conference had six focused themes driven towards achievingorganization excellence. These include:1. Risk Management2. Strategy Development3. Sales4. Procurement and Vendor Management5. Quality Management6. Recruitment and RetentionAll the above, including Strategy Development are key to achieving continuous excellence within anyorganization, be it a part of any business domain, geography or size. In this report we focus on the centralviews discussed by the panel towards the state of Strategy Development. The panel felt that there is a vitalneed for any organization to constantly look outside its current strategy and identify changes that can impactit. Strategy development is an art but needs the right kind of scientific tools coupled with right talent withinthe organization. It has to be a continuous and iterative process.The exciting discussions and perspectives brought forward by a diversified set of CXOs indicates the currentstate of Strategy Development practices in the industry, along with the challenges, opportunities forimprovement and expected trends in the coming years. As economies and industries across the globe facedifficult times, these findings serve a critical purpose. These findings should be used not only by StrategyDevelopers to gauge their readiness for change, but also by CXOs across the organizations to know the bestpractices of the current industry and apply them or develop them further and add value to the end outputbeing provided by them.Please note that this report is the consolidation of the point of views of the panel in their individual capacityand is not endorsed by their respective organizations.This report has been made possible by seamless support of the Panel Chair, Panel Chief Editor, PanelMembers, the LASSIB Society team and 9Pixels as the media partner for LASSIB Society. We hope you find thereport valuable and helpful when defining the direction of your quality improvement initiatives.SignatureDr. Ashok AgarwalPanel ChairChairman,Engineers Without Borders-India.SignatureMr. Vineet TanejaChief EditorGPM & Product Head - Bing Finance onWindows 8Microsoft India
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 4 | © 2013 LASSIB Society, All Rights ReservedINTRODUCTION TO THE PANELPanel ChairDr. Ashok AgarwalChairman,Engineers Without Borders-IndiaPanel Members Panel Chief EditorMr. Chandrasekhar Padmasola,,C.O.O,Synergy Computer SolutionsMr. Vineet TanejaGPM & Product Head - BingFinance on Windows 8Microsoft IndiaMr. Jayakumar SIndia Head, Search QualityGoogle India Pvt LimitedMr. Saurabh Chandra,Head – Automation, R&D Unit, CA& HeadHyderabad, Indian Testing Board.Mr. Samit SinghChief Operating Officer (IndiaOffshoring),UBS India Pvt LtdDr. Sharadsrikar KGeneral Manager,GVK Bio
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 5 | © 2013 LASSIB Society, All Rights ReservedSNAPSHOTS FROM THE LASSIB SOCIETY CXO ROUND TABLE CONFERENCE
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 6 | © 2013 LASSIB Society, All Rights ReservedEXECUTIVE SUMMARYThe word “Strategy” holds different meanings for different set oforganizations and people. However the main goal for any organizationwhether for profit, not for profit or government organization as well, remainsto grow and deliver value to its customers. In fact, growth of an organizationis not possible without creating customer value. Hence, the panel narroweddown on Organization Growth as the key area of focus for their discussions.The role of Strategy as an enabler for growth is of course undisputed. Withouta well laid out strategy no growth can be sustainable in the long run.Looking at a lot of real time industry scenarios, the panel shortlisted some keychallenges that organizations face with when it comes to strategydevelopment. These challenges have been classified under the followingheads:• Strategy Creation Challenges• Strategy Implementation Challenges• Environmental ChallengesTo overcome these challenges, organizations need to focus on developing theright environment for their people and invest in structures that promote rapidstrategy development and implementation, providing organizations the muchneeded agility in the market.Staying close to their end customers will enable leaders to monitor the pulseof the market and provide critical inputs for the future direction of theorganization. Leaders need to remember that strategy development is aniterative process and failure of some or many ideas is part of long termgrowth. The emphasis should there not only be to search for excellent ideasthat are fool proof, but to continuously work with small ideas, test them inthe market quickly and learn from the market signs.There are many new opportunities in the market that provide fresh avenuesfor growth. Strategy development needs to focus on all of these in detail,while ultimately deciding which not to work on.Even in the presence of sophisticated, expensive tools for data research andanalysis, the most effective tool for strategy development remains the peopleof the organization. Hence, organizations need to constantly focus onidentifying new talent and build strategic thinking within the existing set ofresources.Strategy developmentis all about attaininglong term growth.Organizations need tostay ahead of thechange, invest inbuilding innovationand leverage newopportunities topromote growth.Strategy developmentis an iterative processand failure needs to beplanned for and learntfrom constantly.Strategy developmentis about quickly testingideas with customers,but over time decidingwhat NOT to do.
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 7 | © 2013 LASSIB Society, All Rights Reserved
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 8 | © 2013 LASSIB Society, All Rights Reserved1. CURRENT STATE OF STRATEGY DEVELOPMENT
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 9 | © 2013 LASSIB Society, All Rights Reserved
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 10 | © 2013 LASSIB Society, All Rights Reserved2. INDUSTRY CHALLENGES2.1. STRATEGY CREATION CHALLENGES2.1.1. TIME SPENT TO CREATE EFFECTIVE STRATEGIES2.1.2. LACK OF INFORMATION/DATA FOR STRATEGY CREATION.2.1.3. DECISION MAKING BASED ON INTUITION IN PLACE OF ANALYSIS
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 11 | © 2013 LASSIB Society, All Rights Reserved2.2. STRATEGY IMPLEMENTATION CHALLENGES2.2.1. MESSAGING OF THE STRATEGY2.2.2. ABSENCE OF LONG TERM STRATEGY2.2.3. RECRUITMENT IS NOT STRATEGICALLY DRIVENA strategy that mighthave been wellthought out within aboard room often failsto launch successfullyon the shop floor.
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 12 | © 2013 LASSIB Society, All Rights Reserved2.3. ENVIRONMENTAL CHALLENGES2.3.1. RAPID TECHNOLOGY CHANGES2.3.2. LACK OF DIFFERENTIATION
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 13 | © 2013 LASSIB Society, All Rights Reserved
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 14 | © 2013 LASSIB Society, All Rights Reserved3. INTERVENTIONS NEEDED3.1. PEOPLE FOCUSED INTERVENTIONS3.1.1. CROSS POLLINATION OF RESOURCES3.1.2. HIRE RESOURCES WHO ARE INNOVATIVE BYNATURE3.1.3. INVEST IN CREATING STRATEGIC LEADERS
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 15 | © 2013 LASSIB Society, All Rights Reserved3.2. ORGANIZATIONAL INTERVENTIONS3.2.1. EVALUATE OPPORTUNITIES AND CREATE STRATEGYFROM THEM THAN THE OTHER WAY ROUND.3.2.2. BUILD STRATEGY TEAM LEAD BY CHIEF STRATEGYOFFICER
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 16 | © 2013 LASSIB Society, All Rights Reserved4. OPPORTUNITIES4.1. NEW MARKETS4.2. NEW TECHNOLOGIES
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 17 | © 2013 LASSIB Society, All Rights Reserved
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 18 | © 2013 LASSIB Society, All Rights Reserved5. CRAFTING A SUSTAINABLE FUTUREFIGURE 1: CORPORATE GROWTH STRATEGY FOCUS AREAS5.1. FASTEN THE CYCLE OF LEARNING, FAILING AND LEARNING5.2. BUILD THE RIGHT PEOPLE SKILLS.
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 19 | © 2013 LASSIB Society, All Rights Reserved5.3. FLATTER ORGANIZATION STRUCTURE5.4. TECHNOLOGY
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 20 | © 2013 LASSIB Society, All Rights Reserved
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 21 | © 2013 LASSIB Society, All Rights Reserved6. ABOUT LASSIB SOCIETYLASSIB Society is a not-for-profit organization focused on ‘Nurturing Next Generation Governance Globally’.LASSIB Society’s mission is to create and provide the worlds most useful ‘Governance Management’ resourcecentre and a set of certification programs, available for Individuals, Organizations and Governments at thelowest cost.Based on the principles on Gandhian Engineering, we deliver cutting edge industry research and enhancedvalue to the community at large.LASSIB Society organizes multiple events, enabling face-to-face interactions and virtual interactions among theglobal community.7. ABOUT LASSIB SOCIETY CXO ROUND TABLE CONFERENCESLASSIB Society hosts a series of high profile; power packed, peer-to-peer, invitation-only Round TableConferences for C-Level executives with a focus on ‘Nurturing Next Generation Governance Globally’.These conferences are a rare opportunity for CXOs to network with fellow CXO’s, share their experiences,learn from other’s successes and best practices. These conferences consist of a predefined set of themeswhich are most relevant to the industry, in that specific location. The CXO panel for each theme is engaged in abrainstorming session to understand the current state of the industry, the challenges, best practices andindustry outlook for the future. All inputs from these sessions are captured in the Industry Advisory Reports(IARs) like this one.These IARs are a valuable resource for the industry at large, and serve to provide key insights that can be usedby industry leaders to shape the strategy for their organizations.Please refer to http://www.lassibsociety.org/ for details of all events of LASSIB Society.
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 22 | © 2013 LASSIB Society, All Rights Reserved8. LASSIB SOCIETY CXO ROUND TABLE CONFERENCE SUPPORTERSThe Round Table Conferences would not have been possible without the support of the following:Minitab remains the worlds leading software for teaching statistics. Morestudents worldwide have learned statistics using Minitab than any othersoftware. Minitab also is the software used most often in Six Sigma, the world’sleading quality improvement methodology.Lucid Infotech specializes in collaborative business productivity software. Itslatest product, OneSpace, provides a secure corporate workspace for project,process and content management in an easy-to-use UI for quickest useradoption.9 PIXELS Entertainment is an Integrated Professional Media and Entertainment(M&E) company which creates and produces large scale innovative andprofitable media concepts across all areas of entertainment and brings in over adecade of industry experience in the areas of Film and TV. Their goal is tomaximize clients growth potential by providing specialized marketing servicesto expand their brand. They provide clients the opportunity to reduce their to-do list by enlisting 9Pixels to handle specific areas of expertise.9. OTHER CONTRIBUTORS TO THE LASSIB CXO ROUND TABLE CONFERENCERole Full Name Designation OrganizationIAR Editing Ms. Shilpa Kota Secretary LASSIB SocietyIAR Reviewer Mr. Pavan Kota Executive President LASSIB SocietyIAR Launch Mr. Srikanth Kodavanti Chief Executive Officer 9 PixelsConference Chair Mr. Viral Chhaya Vice President, Quality &Change DeliveryBA ContinuumIndia Pvt. Ltd.Conference Lead Facilitator Mr. Ujwal Tripurari Global Evangelist LASSIB Society
    • LASSIB Society | Industry Advisory Report on Strategy Development 2013Page | 23 | © 2013 LASSIB Society, All Rights Reserved10. HOW YOU CAN LEVERAGE AND SUPPORT LASSIB SOCIETYAlthough LASSIB Society is a not for profit organization, it does not believe in raising funds through charitablemeans, without providing direct value to the contributor. There are many different ways in whichorganizations, institutions, governments and individuals across the globe are working with LASSIB Society todeliver value to themselves and their customers. LASSIB Society is proud to be associated with all of them indeveloping and delivering cutting edge solutions that have not only delivered quantified business value tothem but also added thought leadership to the industry at large. Below are some ways in which you canleverage and support LASSIB Society.Leverage Society foryour initiativesBenefits to you Support to LASSIB SocietyBecome anIndividual orOrganizationMember of LASSIB.Visithttps://lassib.org/index.php/membershipto know more aboutLASSIB membershipoptions.• Access complete knowledge base includingtraining materials, best practices, case studies,videos and webinars from LASSIB Society• Network, learn and contribute to the fastestgrowing community of specialist, senior leadersfrom the industry• Get latest updates, insights and research fromthe industry delivered to your InboxFunds collected throughmembership fees are used tomaintain and grow LASSIBknowledge base.Leverage Trainingand Certification inthemes ofOrganizationExcellence.• Get trained from the leading experts from theindustry who bring together years of experienceand best in class training skills, tools andtechnologies• Acquire not only knowledge but skills toimplement the knowledge in real life scenarios• Attain internationally respected certificationsthereby adding value to your organization andyourself• Join the growing panel of Accredited TrainingProviders (ATP) and Accredited Test Centers(ATC) of LASSIB Society to deliver value withinyour organization.Training and certification feescharged by LASSIB Society arethe lowest in the Industry inorder to ensure these keycomponents are availablewithin reach to masses. Thefees charged helps cover thecost incurred by LASSIB Societyfor hiring trainers and issuingcertificates.Consult with LASSIBexperts to deliverbusiness andcustomer valueSolve organization problems, create strategy, delivercustomer value through best practices and proventools & techniquesConsulting fees derived byLASSIB Society aids LASSIB tofund research, host events andprovide free consultingservices to organizations whichcannot afford to pay yet.Participate in LASSIBEventsNetwork, brainstorm, and learn from industryleaders, face to face, over exciting discussionsSponsorship costs anddelegate fees assist LASSIB inconducting these events andspreading the awarenesswithin the community.Participate andleverage IndustryResearch• Understand the trends in the industry• Identify common challenges and best practices• Hear from experts on future forecastsBy participating in buildingthese reports, you provide theopportunity to LASSIB to shareyour knowledge with the restof the industry.• Please refer to http://www.lassibsociety.org for details on LASSIB Society or• Send a note to contact@lassibsociety.org to get connected to a LASSIB consultant or• Call +91-9246185187 (India) to speak to a LASSIB Society Evangelist directly.
    • Headquarter Address:#5-70, V. V. Nagar, Street No. 8, Habsiguda, Hyderabad, Andhra Pradesh, India. PIN: 500007India Office: +91-40-40045614 | India Fax: +91-40-40045615 |India Toll Free Number: 1800 4251388Email: contact@lassibsociety.org | Website: http://www.lassibsociety.org/