Lassib 2012 industry advisory report on profitability v1.2

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LASSIB Society, a non-profit organisation, focussed on 'Nurturing Next Generation Governance Globally', today announces the release of its Industry Advisory Report (IAR) on “Improving Profitability ”.
This report is the result of Panel Discussions undertaken during and after the 'CXO Round Table Conference on Organisational Excellence' held on 14th July 2012, at the Ramada Powai Hotel & Convention Centre, Mumbai, India and has been made possible through the able contributions of the following panel of experts:
• Panel Chair: Mr. K.V. Srinivasan ( CEO, Reliance Commercial Finance & Reliance Home Finance)
• Panel Chair: Mr. Alok Goel (CEO, NITCO Ltd.)
• Panel Chief Editor: Mr. Chandrashekhar Deokar (Quality & Management Consultant )
• Panel Member: Ms. Nimilita Chatterjee (VP, Products, Equifax)
• Panel Member: Mr. Sachin D (Lead CFO, Founder & CEO, CFOSME)
• Panel Member Mr. Saurabh N Bhatt ( Executive Director, Global Business Services, The Nielsen Company)
• Panel Member: Mr. Shashank S Jha (Sales Leader – India and SAARC countries, GE)
• Panel Member: Subbiah Thiagarajan ( General Manager, Rallis India Ltd.)
In the words of Shilpa Kota, Secretary, LASSIB Society, "Profitability is an important focus area for any organization, even those who do not strive directly to earn profit. This IAR not only looks at profitability from a quantitative point of view, but more from a qualitative point of view. It is a must read for those trying to achieve sustainable long term profitability in their organizations.”
As LASSIB Society continues to work with CXOs across the industry and around the globe, it is scheduled to shortly release additional Industry Advisory Reports (IARs) on 'Strategy Development', 'Corporate Governance', 'Corporate Law’ among others.
LASSIB Society expresses its gratitude to all its Panel Chairs, Chief Editors, Panel Members and supporters including 9Pixels (Media Partner), Minitab (Sponsor) and Lucid Apps (Technology Partner).
About LASSIB Society's CXO Round Table Conferences (RTCs):
LASSIB Society hosts a series of high profile; power packed, peer-to-peer, invitation-only Round Table Conferences 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 themes which are most relevant to the industry, in that specific location. The CXO panel for each theme is engaged in a brainstorming session to understand the current state of the industry, the challenges, best practices and industry 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 used by

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Lassib 2012 industry advisory report on profitability v1.2

  1. 1. Table of ContentsForeword ................................................................................................................................................................ 3Introduction to the Panel ...................................................................................................................................... 4Snapshots from the conference ............................................................................................................................ 51. Current state of IMPROVING PROFITABILITY ............................................................................................ 62. Industry Challenges, Influencers and Interventions .................................................................................. 8 2.1. Challenge: Unwillingness to appreciate changing environment variables............................................ 8 Common Influencers behind these challenges and Key Interventions that need to be planned to address these challenges..................................................................................................Error! Bookmark not defined. 2.2. Challenge: Balance between long term and short term goals leading to damaging consequences ..... 9 2.3. Challenge: Lack of Trust amongst management teams ....................................................................... 11 2.4. Challenge: Inability to source the right mix of resources .................................................................... 123. Crafting a sustainable future ................................................................................................................... 144. From Now to the new world ................................................................................................................... 145. About LASSIB Society .............................................................................................................................. 166. About LASSIB CXO Round Table Conferences ........................................................................................ 167. LASSIB CXO Round Table Conference Supporters.................................................................................. 178. Other Contributors to the LASSIB CXO Round Table Conference ......................................................... 179. How you can leverage and support LASSIB Society ............................................................................... 18 COPYRIGHT ©2013 LASSIB Society, All Rights Reserved. No part of this document may be modified, deleted, or expanded by any process or means without prior written permission from LASSIB Society. T HIS REPORT HAS BEEN MADE POSSIBLE WITH THE SUPPORT OF LASSIB S OCIETY PARTNERS .LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 2 | ©2013 LASSIB Society, All Rights Reserved.
  2. 2. FOREWORD Welcome to the Industry Advisory Report on ‘Improving Profitability’. This report captures the synopsis of the discussion and analysis held by the panel on ‘Improving Profitability’ at the LASSIB th Society’s CXO Round Table Conference held in Mumbai on 14 July 2012. The conference had six focused themes driven towards achieving Organizational Excellence. These include: 1. Delivering Customer Value 2. Employee Satisfaction & Engagement 3. Improving Profitability 4. Learning and Development 5. Operational Excellence 6. Revenue Growth All the above, including Improving Profitability are key to achieving excellence within any organization, be it a part of any business domain, geography or size. The panel on Improving Profitability comprised of a well balanced set of members which included Chartered Accountants, Sales Executives, Entrepreneurs, Management Consultants, Risk Analysts and a few CEOs. The experts having a rich experience in their respective domains came up with a series of examples, best practices and challenges in the industry related to managing profitability. While there were so many finance experts on the panel, the IAR was expected to be a highly quantitative representation on key drivers and metrics for improving profitability. However, the panel displayed a high level of maturity and refrained from jumping to provide diagnostic quantitative flow chart based solutions like a B-school MBA class. They instead chose to focus on the softer aspect of human interactions in an organizational context that drive productivity. Please note that this report is the consolidation of the point of views of the panel in their individual capacity and is not endorsed by their respective organizations. This report has been made possible by seamless support of the Panel Chair, Panel Chief Editor, Panel Members, the LASSIB team and 9Pixels as the media partner for LASSIB. We hope you find the report valuable and helpful when defining the direction of your improvement initiatives. Mr. K.V. Srinivasan Mr. Alok Goel Panel Chair – Improving Profitability Panel Panel Co-Chair – Improving Profitability Panel CEO, Reliance Commercial Finance & Reliance Home CEO, NITCO Ltd. Finance Mr. Chandrashekhar Deokar Chief Editor – Improving Profitability Panel Quality & Management ConsultantLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 3 | ©2013 LASSIB Society, All Rights Reserved.
  3. 3. INTRODUCTION TO THE PANEL Panel Chairs Mr. K.V. Srinivasan, CEO, Reliance Commercial Finance & Reliance Home Finance Mr. Alok Goel, CEO, NITCO Ltd. Panel Members Ms. Nimilita Chatterjee, VP, Products, Equifax Mr. Sachin D., Lead CFO, Founder & CEO, CFOSME Mr. Saurabh N Bhatt, Executive Director, Global Business Services, The Nielsen Company Mr. Shashank S Jha, Sales Leader – India and SAARC countries, GE Subbiah Thiagarajan, General Manager, Rallis India Ltd. Panel Chief Editor Mr. Chandrashekhar Deokar, Quality & Management ConsultantLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 4 | ©2013 LASSIB Society, All Rights Reserved.
  4. 4. SNAPSHOTS FROM THE CONFERENCE Panel in Deep Discussion Panel on StageLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 5 | ©2013 LASSIB Society, All Rights Reserved.
  5. 5. 1. CURRENT STATE OF IMPROVING PROFITABILITYLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 6 | ©2013 LASSIB Society, All Rights Reserved.
  6. 6. LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 7 | ©2013 LASSIB Society, All Rights Reserved.
  7. 7. 2. INDUSTRY CHALLENGES, INFLUENCERS AND INTERVENTIONS 2.1. CHALLENGE: UNWILLINGNESS TO APPRECIATE CHANGING ENVIRONMENT VARIABLESLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 8 | ©2013 LASSIB Society, All Rights Reserved.
  8. 8. 2.2. CHALLENGE: FOCUSING ONLY ON SHORT TERM GOALS LEADING TO DAMAGING CONSEQUENCESLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 9 | ©2013 LASSIB Society, All Rights Reserved.
  9. 9. LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 10 | ©2013 LASSIB Society, All Rights Reserved.
  10. 10. 2.3. CHALLENGE: LACK OF TRUST AMONGST MANAGEMENT TEAMSLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 11 | ©2013 LASSIB Society, All Rights Reserved.
  11. 11. 2.4. CHALLENGE: INABILITY TO SOURCE THE RIGHT MIX OF RESOURCES. .LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 12 | ©2013 LASSIB Society, All Rights Reserved.
  12. 12. LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 13 | ©2013 LASSIB Society, All Rights Reserved.
  13. 13. 3. CRAFTING A SUSTAINABLE FUTURE4. FROM NOW TO THE NEW WORLDLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 14 | ©2013 LASSIB Society, All Rights Reserved.
  14. 14. LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 15 | ©2013 LASSIB Society, All Rights Reserved.
  15. 15. 5. ABOUT LASSIB SOCIETYLASSIB Society is a not-for-profit organization focussed 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.6. ABOUT LASSIB 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 Improving ProfitabilityPage | 16 | ©2013 LASSIB Society, All Rights Reserved.
  16. 16. 7. LASSIB 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. More students worldwide have learned statistics using Minitab than any other software. Minitab also is the software used most often in Six Sigma, the world’s leading quality improvement methodology. Lucid Infotech specializes in collaborative business productivity software. Its latest product, OneSpace, provides a secure corporate workspace for project, process and content management in an easy-to-use UI for quickest user adoption. 9 PIXELS Entertainment is an Integrated Professional Media and Entertainment (M&E) company which creates and produces large scale innovative and profitable media concepts across all areas of entertainment and brings in over a decade of industry experience in the areas of Film and TV. Their goal is to maximize clients growth potential by providing specialized marketing services to expand their brand. They provide clients the opportunity to reduce their to- do list by enlisting 9Pixels to handle specific areas of expertise.8. 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 SocietyConference Lead Mr. Rana Pratap Singh Executive Vice President LASSIB SocietyFacilitatorLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 17 | ©2013 LASSIB Society, All Rights Reserved.
  17. 17. 9. 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 LASSIB for Benefits to you Support to LASSIB Societyyour initiativesBecome an Access complete knowledge base including Funds collected throughIndividual or training materials, best practices, case studies, membership fees are used toOrganization videos and webinars from LASSIB Society maintain and grow LASSIBMember of LASSIB. Network, learn and contribute to the fastest knowledge base. growing community of specialist, senior leadersVisit from the industryhttps://lassib.org/ind Get latest updates, insights and research fromex.php/membership the industry delivered to your Inboxto know more aboutLASSIB membershipoptions.Leverage Training Get trained from the leading experts from the Training and certification feesand Certification in industry who bring together years of experience charged by LASSIB Society arethemes of and best in class training skills, tools and the lowest in the Industry inOrganization technologies order to ensure these keyExcellence. Acquire not only knowledge but skills to components are available implement the knowledge in real life scenarios within reach to masses. The Attain internationally respected certifications fees charged helps cover the thereby adding value to your organization and cost incurred by LASSIB Society yourself for hiring trainers and issuing Join the growing panel of Accredited Training certificates. Providers (ATP) and Accredited Test Centers (ATC) of LASSIB Society to deliver value within your organization.Consult with LASSIB Solve organization problems, create strategy, deliver Consulting fees derived byexperts to deliver customer value through best practices and proven LASSIB Society aids LASSIB tobusiness and tools & techniques fund research, host events andcustomer value provide free consulting services to organizations which cannot afford to pay yet.Participate in LASSIB Network, brainstorm, and learn from industry Sponsorship costs andEvents leaders, face to face, over exciting discussions delegate fees assist LASSIB in conducting these events and spreading the awareness within the community.Participate and Understand the trends in the industry By participating in buildingleverage Industry Identify common challenges and best practices these reports, you provide theResearch Hear from experts on future forecasts opportunity to LASSIB to share your knowledge with the rest of the industry. Please refer to http://www.lassib.org for details on LASSIB Society or Send a note to contact@lassib.org to get connected to a LASSIB consultant orLASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 18 | ©2013 LASSIB Society, All Rights Reserved.
  18. 18. Call +91-9246185187 (India) to speak to a LASSIB Evangelist directly.LASSIB Society | Industry Advisory Report on Improving ProfitabilityPage | 19 | ©2013 LASSIB Society, All Rights Reserved.
  19. 19. Headquarter Address:#5-62/9/22-B, V. V. Nagar, Street No. 8, Habsiguda, Hyderabad, Andhra Pradesh, India. PIN: 500007Office: +91-40-40045614 | India Fax: +91-40-40045615 | Toll Free Number: 1-800-425-1388Email: contact@lassibsociety.org | Website: http://www.lassibsociety.org/

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