Case Study 2
Vision & Values Deployment for a renowned Business Group
Client Profile: The client company was part of an old and respected Indian Industrial group that had expanded into textiles, chemicals, sugar, automobiles, engines, rayon/nylon tires cord, automotive components, edible oils, heavy chemicals, sewing machines, fans, and home appliances.
Objectives: Due to several reasons, the business of the company started declining. By 2002-2003, it came under the BIFR (Board of Industrial Financing & Reconstruction) with ever more scrutiny by Government authorities. The company lost many talented people and the morale was low. The management lost credibility both within and outside the company. They sought help to transform the company and bring back the pride and confidence of its people.
Solution: A Steering Committee and Design Team were formed for the entire transformation exercise. Grow Talent worked with these teams to launch the “Appreciative Inquiry” process. A series of meetings were conducted with a cross-section of employees to understand the situation. Employees poured their hearts out and shared their anguish and their sense of despair. The focus on the positives of the company, which was in deep trouble, slowly began to change the mood of the workforce. There was a glimmer of hope and this process also ensured that everyone felt that they were being included in the transformation exercise.
Study missions were formed to visit and study the best practices of similar initiatives in other companies. The first set of LSIPs was held at the plant locations and at the Head office to share the insights of the study mission teams. A series of workshops and Large-Scale Interactive Process events were later organized with all the stakeholders of the company to bring out a common understanding of the preferred future of the company. After completing these events in different locations of the company, a final confluence event was planned in which representatives of all the previous events were brought together. The Vision and Values statements were finalized, and an action plan was approved.
Within a few months, the mood of the company was transformed. They had discovered their positives, dreamt a powerful vision and designed a credible plan to transform the company.
Outcomes: As the action plans were implemented, a number of breakthrough results occurred. For example, the plants achieved their best productivity levels and set new records for output and yields. The mood shifted dramatically and soon even the cynics got converted and began to take an active interest in the transformation exercise. Within 24 months of starting the exercise, the company had achieved a remarkable turnaround and came out of the clutches of BIFR and began an expansion and major new investment plan. The transformation effort was expanded rapidly and then institutionalized.