EIL Business Model

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EIL Business Model

  1. 1. EIL Group of Companies STRATEGIES FOR COMPETITIVENESS
  2. 2. History <ul><li>In 1982 with a $10,000 borrowed investment, Mr. Dave Ramkissoon started business in the retail trade of small electrical items. </li></ul><ul><li>In 1987 his company Electrical Distributors Limited (EDL) acquired the cable manufacturer Trinidad Cables Limited (TCL) from the Kirpalani Group of companies. </li></ul><ul><li>Trinidad Electrical Manufacturing Corporation (TEMCO) was then formed as an amalgamation of EDL and TCL. </li></ul><ul><li>In 1997, TEMCO Ltd acquired Electrical Industries Ltd (EIL) from the Neal & Massy Group of Companies </li></ul><ul><li>In 2009, EIL acquired AGOS Lighting, a fluorescent light fixture manufacturer from Agostini’s Limited </li></ul><ul><li>In 2011, EIL acquired Century Eslon Limited, a PVC Pipe, Tank and Packaging manufacturer with over 40 years of experience </li></ul>
  3. 3. Who we are today <ul><li>Largest electrical manufacturing company in the Caribbean </li></ul><ul><li>3 Manufacturing plants: Electrical Cables, FL Lighting and PVC products. </li></ul><ul><ul><li>Range of products includes : </li></ul></ul><ul><ul><li>EIL wires and cables, GE Distribution products, Century Eslon PVC Pipes, Buckets, Water tanks and Packaging, AGOS Fluorescent Lighting Fixtures </li></ul></ul><ul><li>Locations in 10 islands in the Caribbean and in Florida, USA </li></ul><ul><li>Employ a workforce of 585 </li></ul><ul><li>50% of sales to export markets </li></ul><ul><li>Markets include Canada, USA, Puerto Rico, Panama, Dominican Republic, Caribbean </li></ul><ul><li>Consistent growth in revenues even throughout current global challenges </li></ul>
  4. 4. Profitable Growth Creating a Competitive Organization Innovation in Market Investment in Technology and Product Quality THREE CORE PILLARS FOR competitiveness ACQUISITIONS AGOS CEL MARKETING Models USA DR GE ISO 9000 BALANCED SCORECARD THE RIGHT PEOPLE NEW PRODUCTS UNIT COSTS INTERNATIONAL STANDARDS
  5. 5. CREATING a competitive ORGANIZATION ORGANIZATION ISO 9000
  6. 6. Our Actionable Vision
  7. 7. Model Status SIX Pillars of Model Status
  8. 8. Our Management Architecture Extracted from Kaplan-Norton Master Class, March 2010
  9. 10. CUSTOMER FINANCIAL Growth through Marketing Operational Excellence Growth through Acquisition EIL CORPORATE STRATEGY MAP 2010 - 2012 Developing our Human Capital Creating a Robust IT Platform INTENAL BUSINESS PROCES LEARNING AND GROWTH Increase r evenue To achieve budget F1 Increase Revenue t hr o ugh Organic Growth F2 Increase Revenue Through Acquisition F4 Achieve Customer Satisfaction and Loyalty C1 Enhance partnerships with customers GM1 Develop new markets GM2 Acquire new customers in existing markets GM3 Develop new products GM 4 Lower cost of producing p roducts and s ervices OE2 Improve a sset u tilization OE3 Continu ally improve processes OE4 Efficient and effective integration of acquisitions GA1 Pursue acquisition opportunities GA2 Develop IT strategic readiness p rogram IT1 Attract and retain top talent HC1 Develop strategic c ompetencies HC2 Align employee’s goals to success HC3 Deliver re sponsively to c ustomers OE1
  10. 11. Strategies for Competitiveness – the Balanced Scorecard (BSC) <ul><li>Implementation of BSC as backbone of management architecture </li></ul><ul><li>The execution of Strategic Plan managed using the BSC Methodology </li></ul><ul><ul><li>Established Accountability </li></ul></ul><ul><ul><li>Created Focus and Strategic Alignment </li></ul></ul><ul><li>Focus on Organisational Excellence became a </li></ul><ul><li>Competitive Advantage in its own right - strategy execution </li></ul>ORGANIZATION ISO 9000
  11. 12. The Right People on the BUS <ul><li>Governance Model – Knowledge and Experience of External Directors </li></ul><ul><li>Recruitment Strategy - Hire the best people </li></ul><ul><li>Focus on human capital development </li></ul><ul><li>Continuous learning and development of our </li></ul><ul><li> Employees </li></ul>ORGANIZATION ISO 9000
  12. 13. INVESTING IN TECHNOLOGY INVESTMENT ISO 9000
  13. 14. Strategies for Competitiveness INVESTMENT IN TECHNOLOGY – International Competitiveness <ul><li>2000-2011: Invested over TT$80Mn in plant and equipment </li></ul><ul><ul><li>- Increased Plant Capacity </li></ul></ul><ul><ul><li>- Higher Quality Products </li></ul></ul><ul><ul><li>- Lower Unit Costs of Production </li></ul></ul><ul><ul><li>- Reduced Plant Downtime </li></ul></ul><ul><ul><li>- New Product Development </li></ul></ul><ul><ul><li>- Improved Customer Delivery </li></ul></ul><ul><li>Over TT$3Mn in Quality Control testing facilities </li></ul><ul><li>Over TT$5Mn in International Quality Certifications – </li></ul><ul><ul><li>UL, BASEC, KEMA, ISO 9000, HSE Systems </li></ul></ul><ul><ul><li>New markets such as USA, Canada, DR with new products </li></ul></ul>INVESTMENT ISO 9000
  14. 15. INVESTMENT ISO 9000 <ul><li>Prime Minister's Exporter of the Year Award for Export Performance – 1973 </li></ul><ul><li>Prime Minister's Exporter of the Year Award for Quality Construction Products – 2001 </li></ul><ul><li>BDC’s Excellence in Export/International Competitiveness Award – 2004 </li></ul><ul><li>BDC’s Overall Award for Excellence in Business – 2004 </li></ul><ul><li>BDC’s Excellence in Technology Award – 2006 </li></ul><ul><li>BDC’s Overall Award for Excellence in Business – 2006 </li></ul>
  15. 16. INNOVATION IN MARKET INNOVATION ISO 9000
  16. 17. BUSINESS ACQUISITIONS in time of uncertainty <ul><li>Deliberate strategic decision to grow by acquisition </li></ul><ul><li>AGOS MANUFACTURING – 2009 </li></ul><ul><ul><ul><li>Fluorescent Lighting Fixtures added to range of products </li></ul></ul></ul><ul><ul><ul><li>Increased presence in US market – 15 containers / month </li></ul></ul></ul><ul><ul><ul><li>Added 20% to revenue base </li></ul></ul></ul><ul><li>CENTURY ESLON LTD – 2011 </li></ul><ul><ul><ul><li>Added PVC pipes, tanks, pvc packaging to product range </li></ul></ul></ul><ul><ul><ul><li>Acquired physical locations in 10 Caribbean islands </li></ul></ul></ul><ul><ul><ul><li>Acquired new distribution channel in Caribbean– hardware/retail </li></ul></ul></ul><ul><ul><ul><li>Added 100% to revenue base </li></ul></ul></ul><ul><li>Other Benefits </li></ul><ul><ul><ul><li>Diversify Risk </li></ul></ul></ul><ul><ul><ul><li>Synergies and Strength in marketplace </li></ul></ul></ul><ul><ul><ul><li>Security in size and Economies of Scale </li></ul></ul></ul>INNOVATION ISO 9000
  17. 18. New Marketing Models <ul><li>DOMINICAN REPUBLIC – Consignment Inventory Model 2010 </li></ul><ul><ul><li>100% of business of 2 nd largest electrical distributor in DR </li></ul></ul><ul><li>USA – Consignment/Partnership Model 2011 </li></ul><ul><ul><li>Ownership of distribution company in Florida </li></ul></ul><ul><ul><li>EIL products have access to large chain – 350 stores in US </li></ul></ul><ul><li>GE– Contract Manufacturing Model 2012 </li></ul><ul><ul><li>AGOS Manufactures Fl Lights under GE Brand for GE’s </li></ul></ul><ul><ul><li>Central/South American markets </li></ul></ul>INNOVATION ISO 9000
  18. 19. EIL Innovation Policy <ul><li>Encourage, recognize, reward innovation in the organization </li></ul><ul><li>Innovation drives growth, productivity and continuous improvement </li></ul><ul><li>Applicable to all employees – a culture not a boardroom thing </li></ul><ul><li>376 Innovation ideas submitted from across EIL organization </li></ul>INNOVATION ISO 9000
  19. 20. SUMMARY – THE EIL EXPERIENCE <ul><li>Ensure that products and services are of highest I nternational Q uality and C apacity for G rowth exists </li></ul><ul><li>Create a T hinking O rganization and encourage and reward ideas for new M arketing M odels and G rowth S trategies </li></ul>Investment in TECHNOLOGY INNOVATION Efficient & Effective ORGANIZATION <ul><li>P osition your company to capitalize on O pportunities and develop H uman C apital to ensure it happens </li></ul>Strategy for Competitiveness
  20. 21. <ul><li>Thank you! </li></ul>

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