Porter Prize Presentation 2014
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Porter Prize is named after Michael E Porter who is Professor at Harvard Business School, living legend and father of modern strategy field. The central idea of the Porter Prize is to propel companies ...

Porter Prize is named after Michael E Porter who is Professor at Harvard Business School, living legend and father of modern strategy field. The central idea of the Porter Prize is to propel companies to compete on the basis of value creation, innovation and strategy.

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Porter Prize Presentation 2014 Presentation Transcript

  • 1. PORTER PRIZERecognizing the Strategic Acumen of Corporates in India
  • 2. Organized by About | Institute for Competitiveness Institute for Competitiveness, India is an independent, international initiative centred in India, dedicated to enlarging and disseminating the body of research and knowledge on competition and strategy, pioneered over the last 25 years by Professor M.E. Porter of the Institute for Strategy and Competitiveness, Harvard Business School (ISC, HBS), USA. Institute for Competitiveness, India works in affiliation with ISC, HBS, USA to offer academic & executive courses, conduct indigenous research and provide advisory services to corporate and Government within the country. The institute studies competition and its implications for company strategy; the competitiveness of nations, regions & cities; suggests and provides solutions for social problems. Institute for Competitiveness, India brings out India City Competitiveness Report, India State Competitiveness Report, India Economic Quarterly, Journal of Competitiveness and funds academic research in the area of strategy & competitiveness. To know more about the institute write to us at info@competitiveness.in.
  • 3. About | Strategy Awards | Mint The Mint-Institute for Competitiveness Strategy Awards similar to Porter Prize has provided a platform to award the Indian companies which are positively influencing their stakeholders. The Strategy Awards in India recognize and honor the best companies in each industry classification that have created their own niche via their strong strategy. About Mint Mint business newspaper provides global headline news, breaking news, current business, financial, economic and technology news. Mint is a business newspaper from HT Media Ltd, launched in collaboration with The Wall Street Journal on February 1, 2007. It is a premium business news publication aimed at decision makers and policy makers of the country and it is the first newspaper in India to be published in the Berliner format.
  • 4. Michael E. Porter Professor Michael E. Porter is the Bishop William Lawrence University Professor at Harvard University, based at Harvard Business School. A University Professorship is the highest professional recognition that can be given to a Harvard faculty member. He is the fourth faculty member in Harvard Business School history to earn this distinction. Professor Porter is generally recognized as the father of the modern strategy field, as has been identified in a variety of rankings and surveys as the world’s most influential thinker on management and competitiveness. Professor is the leading authority on competitive strategy and international competitiveness. About | Michael E. Porter
  • 5. Why?  Propel Companies to compete on the basis of Value Creation, innovation and Strategy  Recognition of distinct strategies that result in sustainable profitability and enhance the competitiveness of India  Recognition of efforts to create sustainable competitive advantage by Companies  Recognition of efforts to Create Shared Value  Industry/ Peer Recognition As the Indian economy and Indian corporates meet global rivals on the level playing field, strategy will have a definate role Why | Porter Prize
  • 6. -- Capitalizing on Industry Dynamics  Identify strategic positions created by structural industry changes  Flexibility to respond rapidly towards the competitive market -- Segmenting Strategically  To deliver a unique value mix  Creatively segment product varieties, customer groups and purchase occasions -- Leveraging Unique Activities  Look for new activity configurations and combinations  Choose activities that are difficult to imitate -- Exploiting Tradeoffs  Identifying tradeoffs which occur when activities of two or more competing firms are incompatible.  Organizing the internal assets appropriately. Crucial Pillars | Industry Dynamics | Positioning | Fit | Trade offs
  • 7. Industry Architectural Shift Once the forces affecting competition in an industry and their underlying causes have been diagnosed, the firm is in a position to identify its strengths and weaknesses relative to the industry. It involves a number of possible approaches such as:  Positioning the firm so that its capabilities provide the best defense against the existing array of competitive forces.  Influencing the balance of forces through strategic moves, thereby improving the firm’s relative position.  Anticipating shifts in the factors underlying the forces and responding to them, hopefully exploiting change by choosing a strategy appropriate to the new competitive balance before rivals recognize it. Porter Prize | Industry Architectural Shift
  • 8. Creating Distinctive Value The value proposition is the element of strategy that looks outward at customers, at the demand side of the business. The value chain focuses internally on operations. The value proposition answers three questions:  Which customers?: Within an industry, there are distinct groups of customers, or customer segments. A value proposition can be aimed specifically at finding a unique way to serve the chosen segment profitably. It focuses on end users and the channels.  Which needs?: It appeal to a mix of customers who might defy traditional demographic segmentation. It focuses on products & services and the related features.  What relative price?: The companies have two value proposition: deliver higher value at a premium price or offer a low relative price according to their efficiency. Porter Prize | Creating Distinctive Value
  • 9. Fit locks out imitators by creating a chain that is as its strongest link. It creates competitive advantage as well as superior profitability. Types of Fit:  First-order fit: Basic consistency, where each activity is aligned with the company’s value proposition and each contributes incrementally to its dominant themes.  Second-order fit: It occurs when activities complement or reinforce each other. There lies a synergy, where the value of each activity is raised by the other.  Third-order fit: When fit goes beyond the activity of reinforcement then optimization of efforts occur wherein performing one activity makes it possible to eliminate another. Fit Porter Prize | Leveraging Unique Activities
  • 10. Trade-offs Trade-offs are essential to strategy. They create the need for choice and protect against repositioners and straddlers. It purposefully limit what a company offers. Trade-offs arise for three reasons.  Inconsistencies in image or reputation: A company known for delivering one kind of value may lack credibility and confuse customers if it delivers another kind of value or attempts to deliver two inconsistent things at the same time.  Arising from activities themselves: The configuration of activities that best delivers one kind of value cannot equally well deliver another. In general, value is destroyed if an activity is overdesigned or underdesigned for its use.  Limits on internal coordination and control: Senior management makes organizational priorities clear by deciding to compete in one way and not another. Porter Prize | Trade-offs
  • 11. Creating Shared Value The central premise behind creating shared value is that the competitiveness of a company and the health of the communities around it are mutually dependent and they has the power to unleash the next wave of global growth and to refine capitalism. It can be created in three ways.  Reconceiving products and markets: Companies can meet social needs while better serving existing markets, accessing new ones, or lowering costs through innovation.  Redefining productivity in the value chain : Companies can improve the quality, quantity, cost and reliability of inputs and distribution while they simultaneously act as a steward for vital natural resources and drive economic & social development.  Enabling local cluster development: Companies do not operate in isolation and in order to compete and thrive they need reliable local suppliers, infrastructure, talent pool etc. Porter Prize | Creating Shared Value
  • 12. Creating Value Based Healthcare Delivery Redefining Healthcare provides an overall framework for diagnosing and solving the immense problem, with detailed action steps in the heath care system. The concept of value refers to the output achieved relative to the cost incurred. Principles of Value-Based Competition that will help to achieve the alignment of all components of healthcare are  The focus should be on value for patients, not just lowering costs.  Free flow of information that is, information on results and process needed for value-based competition must be widely available.  Innovation in healthcare  There must be unrestricted competition based on results and should not be confined to the local realm instead should be regional and national. Porter Prize | Creating Value Based Healthcare Delivery
  • 13.  Finance, Banking & Insurance  Healthcare, Pharmaceutical & Social Assistance  Information, Media, Telecom & Data Processing  Food & Beverage  Education, Training & Educational Services  Retail & Wholesale  Utilities, Electricity, Gas, Water & Power  Arts, Entertainment & Recreation  Construction, Real Estate & Steel  Petroleum, Chemicals & Plastics  Transportation, Logistics & Aviation  Textiles & Apparels  Computers & Electrical Appliances  Travel, Tourism & Hospitality Categories | Different Industries
  • 14. Stage 1: Understanding Strategy • Make an online application by filling in the basic form • Application has to be made by the top management executives Stage 2: Strategy Audit • Participants will be shortlisted and notified via an email • A comprehensive questionnaire has to be filled by all the participating companies irrespective whether they have qualified for stage 2 or not to carry out a detailed study • Interactive sessions will be further conducted with the top management executives (CXO’s) of the shortlisted companies for in depth analysis Stage 3: Selecting Strategy Winners Results will be analyzed and with the expert opinion of jury members the winners will be announced on September 26, 2014 in a magnificent award evening Stage 1 | Stage 2 | Stage 3
  • 15. Why Participate? Certain benefits can be reaped by the participating companies in terms of  Benchmarking Report  Attend the panel discussions and Porter Prize event  Coffee Table book Why | Participate
  • 16. Jury Mark Kramer Founder and MD, FSG Dr. Christaian Ketels Principal Associate, HBS A P Parigi Director, Bennett Coleman and Co Limited Tripurari Sharan DG, Doordarshan Eminent jury members from diverse backgrounds such as, academics, corporate world, etc. Jury | Distinguished Personalities Dr. Wilfried Aulbur Managing Partner, Roland Berger Strategy Consultants Pvt. Ltd. Vineet Nayar Vice Chairman and CEO HCL Technologies Ltd. Sukumar Ranganathan Editor, Mint Amit Kapoor Honorary Chairman, Institute for Competitiveness, India
  • 17. Who Should Apply?  High-performing companies competing in a single business/industry  High-performing individual business divisions/sections within a large company (i.e., business units of multiple-business companies)  Emerging/growing companies  PSU’s (Public Sector Units)  NGOs (Non Governmental Organizations)  MD/CEO or his/her immediate team can nominate their Company  MD, CEO of a company can suggest nomination for another Company Who | Apply | Nominate
  • 18. Steering Committee  Dr. Amit Kapoor Honorary Chairman, Institute for Competitiveness  Neera Vohra Program Coordinator, Institute for Competitiveness  Lalitha Vaidyananthan (Harvard Business School Alumnus) Managing Director, FSG  Sukumar Rangnathan Editor, Mint  Christopher Doyle MD, Dynamic Results, India  Anoop Prakash (Harvard Business School Alumnus) MD, Harley Davidson India  Rohit Bansal (Harvard Business School Alumnus) CEO & Co-Founder, India Strategy Group, Hammurabi & Solomon Consulting  Anurag Batra MD and Editor-in-Chief, Exchange4Media  Udayan Dravid Management Consultant Steering | Committee
  • 19. Steering Committee (Contd.)  Pramath Sinha (Former Principal-McKinsey & Company) Founder and Managing Director, 9.9 Mediaworx Pvt. Ltd.  Dr. Alok Bharadwaj Senior Vice President, Canon  Bhaskar Chatterjee DG &CEO, Indian Institute for Corporate Affairs  CVL Srinivas CEO, South Asia, Group M Media India Pvt. Ltd.  Ruza Sabanovic COO, Uninor  Dr. Rupali Basu CEO, Apollo Gleneagles  Himanshu Jain VP- Indian sub continent, Sealed Air  V Shankar MD, Rallis India Ltd.  Dr. Devi Shetty Narayana Health Steering | Committee
  • 20. Steering Committee (Contd.)  Sunand Sharma Country President, Alstom  Srivatsa Krishna IAS Officer  Vipul Shah Chairman CEO & President, Dow Chemical International Pvt Ltd. Steering | Committee
  • 21. Porter Prize Winners 2013 Porter Prize | Winners 2013
  • 22. Mint-Institute for Competitiveness Strategy Award Winners 2013 Mint-Institute for Competitiveness | Strategy Awards | Winners 2013  Food and Beverage – Nestle India  Finance, Banking and Insurance – Yes Bank  Transportation, Logistics and Aviation – Mahindra Logistics Limited  Construction, Real Estate and Steel – Shobha Developers  Information, Media, Telecom and Data Processing – Maveric  Services – Siemens Technology and Services Private Limited
  • 23. Porter Prize Winners 2012  Bhargav Dasgupta Managing Director & Chief Executive Officer, ICICI Lombard  Sunand Sharma Country President, Alstom  Srivatsa Krishna IAS Officer  Ashwani Singla MD & CEO, Penn Schoen Berland South Asia  Vipul Shah Chairman CEO & President, Dow Chemical International Pvt Ltd.  B V Rao Editor, Governance Now Porter Prize | Winners 2012
  • 24. Mint-Institute for Competitiveness Strategy Award Winners 2012 Mint-Institute for Competitiveness | Strategy Awards | Winners 2012  Art, Entertainment and Recreation – Cinepolis  Food and Beverage – Cargill  Healthcare – Apollo Gleneagles  Food and Beverage - Yum  Finance, Banking and Insurance – SIDBI  Chemicals – Sealed Air  Transportation, Logistics and Aviation – Red Bus  Tourism and Hospitality – Orange County  Education, Training and Educational Services – Mettl  Construction, Real Estate and Steel – Mahindra Lifespaces  Industrials – Ingersoll Rand  Information, Media, Telecom and Data Processing - Zensar
  • 25. Partners Partners | Logos Opportunity to join us in the following categories: - Presenting Partner - CEO Round Table Partner - Associate Partner - Internet Partner - Award Partner (s) - iPad Application Partner - Corporate Partner - Beverage Partner Documentation PartnerStrategy Audit PartnerStrategic Partner Airline Partner Award Partners
  • 26. Partners Partners | Logos Opportunity to join us in the following categories: - Presenting Partner - CEO Round Table Partner - Associate Partner - Internet Partner - Award Partner (s) - iPad Application Partner - Corporate Partner - Beverage Partner Legal Partner Youth PartnerHospitality Partner Technology Partner PR Partner Media Partners
  • 27. To discuss Sponsorship Opportunities for Porter Prize, please contact Dr Amit Kapoor Institute for Competitiveness Phone No. : +91 9810402639 E-mail: amit.kapoor@competitiveness.in Neera Vohra Program Coordinator Institute for Competitiveness Phone No.: +91 9810473213 E-mail: neera.vohra@competitiveness.in