On Change & Growth…
Going by the Accounting Principles, an Organization is to be Construed, Conceptualized and Carried-on for Perpetual Existence – in colloquial terms, Ever Lasting & Never Ending for Generations to come. But in reality, there are Business Exits – for Strategic, Tactical or sometimes Conditions induced reasons.
When Exits are planned and structured, as in the case of Strategic and Tactical Decisions, its very controlled and the impact of which is carefully taken into consideration prior to implementation. In the 3rd case, Business Conditions induced Exits are usually uncontrolled and therefore are undesirable, resulting in People Issues and Emotional Conflicts, Business issues apart.
As the Famous adage goes “Today, You need to run to remain in the same place. And to Succeed, You need to run faster than the fastest.” This is same for Businesses. To remain where they are, they have to run atleast to match the speed of Industry Growth. And if they are to Grow, they have to run faster than their Competitors – as Growth comes only by acquiring Market and Business Share.
One of the essential aspects of Growth, is to Change and Change Constantly, Consistently, Continuously. As much Change and Growth are inseparable, they are essentially People Dependent and hence, Leadership Oriented. Apex Level Changes – are supposed to be Strategic leading to Compounded results, Operational Level Changes are Tactical leading to Incremental results and Execution Level Changes are for Sustainable results.
It’s all about 3Cs – Conviction, Commitment & Consistency.
Growth comes essentially because of the ability of the Organization to easily Adapt to the Changes effected by SPELT (Social, Political, Economic, Legal and Technological) factors. Other
way to manage Change is to create one. Such strategies also define Market Leaders, Followers and Laggards. There are both merits & demerits in being either one.
Lag Vs Lead Indicators
Businesses thrive on Revenues, Profits and Cash Flows. Prudent Leadership will agree these are results based on past and facts. Certainly they are required for Business continuity and therefore entrusted with Executional Level. Growing Organizations usually focus on influencing SPELT environment to their advantage. Focus then shifts to Market Share, Business Share, New Businesses/ New Customers/ New Markets and New Products.
Failures as stepping stones to success
Growth oriented Leadership encourage Changes, despite knowing the risk of Failures. Its important to accept that there is always a 50% probability to succeed if we try, which otherwise is zero. Successful Organizations actually celebrate failures – wherein it incentivizes to discuss, understand and analyze so as to not repeat them. This is essentially helpful when its 100% transparent and organization wide. Learning from Failures then becomes a part of the Business Process, well documented and widely accessible.
Actions and Inactions:
Actions can be Predictive, Proactive, Reactive and Responsive. Each of these have their own consequences – while being Predictive and Proactive may be choices that induce Change and thus Growth, Reactive and Responsive are essential to sustain businesses. If we don’t Act and failure to act appropriately at an appropriate time may cause irreparable consequences. Ofcourse, to wait and watch is also an action but with limitations, sometimes when overused becoming a liability.
Fundamentals
Many effective Leaders who are Change Makers believe in questioning the Fundamentals. This is certainly needed in a dynamic, fast changing Business Environment. For Business Sustainability, even to change the Fundamentals, there is a need to understand and believe the prevailing fundamentals to know what to change and what not to change. Change for the sake of Change has to be avoided and therefore Change & its impact should be measurable. Reliability then is a result of Repeatability which relies on Processes & People Capability.
Learning & Growing
Growth comes out of the ability of the Organization to Learn and Lead, which means People who are part of the Change and Growth process should be willing to Learn and Grow and thus Grow the Organization. As much as People and Processes are inseparable, Organization and People are.
Cannibalization is an effective Business Strategy which comes out of Learning from past and from customers. When the same applied for People, its Learning to move out of old knowledge and habits (comfort zone) to acquire new knowledge and new skills.
About the Author :
Dr. NITHYANANDAN DEVARAAJ (NITHIN) BE., MBA., Ph.D
Independent Board Member & Business Excellence Expert.
President – Coimbatore Management Association
Past National Secretary – The Institute of Indian Foundrymen.
Former MD / CEO of a German & Japanese MNC
Chairman – Shri Avinashiappar Trust
Past Managing Director & CEO – Flow Link Systems (P) Ltd ( a Voith Group Company )
Managing Partner – SAAE Enterprises
Independent Board Member/ Technical Due Diligence & Capability Assessor.
Dr. Nithin has about 35 + Years of Experience in Engineering Manufacturing organizations. He has worked for LMW Group, L&T, Hitachi & CRI Group. He is considered to be a Professional with a rare blend of Intrapreneurial Orientation, having been a Business Head across Engineering Manufacturing Organisations / Industries.
Dr. Nithin is a Member in Governing Council / Board Of Studies of Universities and Management Institutions as a Management Expert.
Dr. Nithin is part of various industrial associations and professional bodies; he is credited with playing a leading role in bringing land mark changes in Export Incentives, Classification of MSMEs, CPCB Norms, Waste & Disposal Management. He also plays a pivotal role in training and development of educated Youth seeking employment opportunities.
Dr. Nithin Leads a team that turned around a division and a Company, and in establishing large scale projects as bench marks in industry (This Business has won several awards at National & Regional Level which includes – Indian Foundry of the Year, Young Foundryman and Foundryman Awards, 4Star Award from CII, Green Award & Safety Award from Tamil Nadu Government & at National Level from IIF, First Indian Foundry in the segment to get OHSAS 18001 & ISO 50001 Certification and Many Kaizen awards.)
Dr. Nithin is a Managing Trustee of a Family Managed Trust involved in activities like rendering Food, Shelter, Education and Medicare. Noted for rendering services during Chennai, Kerala, Tanjore & Nilgiris Floods.
Dr. Nithin’s Academics:
- Ph.D in Management Sciences
- MBA in Finance & Marketing – Gold Medalist and University Topper
- BE Mechanical Engineer with Distinction
- An IRCA certified lead auditor and assessor for ISO 9001.
- A qualified auditor for EMS, OHSAS & EnMS
- L&T Future Leaders Training at IIM – C
Dr. Nithin’s Professional Associations:
- Member & Industry Nominee, Coimbatore Disaster Management Council
- A Guest Faculty to Premier Management Institutes & Was Visiting Faculty to IIM – Calicut
- An examiner for Management Qualifications & Assessor for Management Teachers
- An acknowledged management trainer and consultant
- Is a regular Business Column Writer.
Dr. Nithin is a Member of:
- Foundry Development Council, Ministry of Commerce & Industries, India.
- Institution of Engineers, All India and Coimbatore Management Association
- Board of Studies in Universities & Premier Management Institutes
Dr. Nithin is Winner of:
- The Outstanding Alumni & Distinguished Alumni Awards from PSG Institutions & Bharathiar University.
- The CMA Golden Jubilee Year Best Manager award for the region.
- The Best Management Student award and many accolades at National Level.
- The Mother Teresa Award of Excellence for Young Business Managers.
Dr. Nithin’s Management Interests:
- Management of Innovation, Corporate Strategic Planning and Manufacturing Management, Green Supply Chain
Dr. Nithin can be contacted at :
Mobile : +91 94879 46900 , +91 99653 11288
LinkedIn | Twitter | Facebook | E-mail | E-mail2
Also read Dr. NITHYANANDAN DEVARAAJ’s earlier articles:
