enParadigm Case Study - Vivek Ltd
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Viveks Ltd. is a leading consumer electronics and home appliances retailer in South India that has grown from a small shop to multiple stores across India with over 1000 employees and INR 500 crore in turnover. In 2014, Viveks' CFO engaged enParadigm to design an intervention to improve cross-functional synergy among the senior management team and align departmental plans with the company's strategy. EnParadigm designed a 3-day leadership simulation workshop where cross-functional teams ran virtual companies to understand the importance of holistic, cross-functional decision making to execute business goals and objectives as planned.
enParadigm Case Study - Vivek Ltd
- 1. Viveks Ltd. Is one of South India’s leading consumer electronics and home appliances retailers. The company grew from a small 200 sq. ft., shop in Mylapore, Chennai to multiple stores across India, with over 1000 employees, and a turnover of INR 500 crore. As the business grew, Mr. B A Kodandaraman, the Managing Director, brought in both family members and professionals - resulting in a diverse value system across the different layers of management. In May 2014, Mr. Anand Bysani, Viveks’ CFO, engaged enParadigm to design an intervention to bring in cross-functional synergy among the senior management team. Specifically, he wanted them to understand the importance of aligning departmental plans with the strategy defined by the top management. www.enParadigm.com 1 How Viveks Developed Synergy and Alignment for its Top Management “I have increased my credit period from 15 to 25 days” “Now looking at sales-Inventory cohesion at a micro level” “We now have college student interns for peak customer care season” “We now allocate even power/water expenses, so people are aware” COMPANY Viveks Limited INDUSTRY Retail (Consumer Durables) INTERVENTION Leadership Simulation WorkshopTM, June 2014 PARTICIPANTS Department heads
- 2. How Viveks Developed Synergy and Alignment for its Top Management | enParadigm We are a company of business experts and IIM Ahmedabad alumni, helping senior leaders transform themselves through simulation-based programs with measurable business impact. www.enParadigm.com © enParadigm Knowledge Solutions LLP. All rights reserved All client collateral is trademark of respective companies “My portfolio is Buying. To get additional ROI, I extended the credit days - after the workshop my credit period increased from 15 days to 25 days.” - A Balaji Sr. Manager, Buying enParadigm TM CLIENT STORY VIVEKS: CROSS-FUNCTIONAL SYNERGY THE PROGRAM enParadigm designed a 3-day program where both family members and professional department heads were grouped into cross-functional teams. Each team ran a virtual company and competed with other companies over many business quarters in a simulated market environment. As an outcome of the program, the participants understood the importance of thinking holistically with regards to different business decisions, to ensure that the goals and objectives of the business are executed as per plan. As the next step, the company also looked at aligning the KRAs of different departments to enhance ownership of business outcomes, and reduce cross-functional conflict. OUTCOMES Cross-functional decision making: A clear understanding of the power of cross-functional collaboration has improved decision making across the board. Highlights include inventory-procurement, sales-inventory, and procurement-finance. Acute financial awareness: Managers across departments (even those in sales and customer care) now have both the impetus and the tools to reduce costs and improve margins. Strategic alignment: Department heads are now aligned with both the company’s overall goals, as well as specific strategic initiatives. This includes initiatives at all levels – from competitor movements to transparent overhead cost allocation. “We are now looking at inventory & cost effectiveness in procurement. We are also looking at cohesion between sales & inventory mgmt. at a micro level.” - Suresh Thomas Product Head, IT&T “I handle a call centre. To handle peak demand, we now have college student interns who are interested in customer care. It reduces our manpower cost, and gives them experience.” - T Ravishankar Sr. Manager, Customer Care “Practical, applicable, impactful.” “Insight into various fields, which we take for granted. Surprisingly Shocking.”