dr. lal pathlab case study analysis/solution
DESCRIPTION
The analysis is based on case study of Dr. Lal Pathlabs.TRANSCRIPT
Marketing-- Dr. Lal pathlabs 1
Gearing Up For Change
Lessons learnt from managingfamily enterprise
Presented by: Chitwant R. TahalyaniClass: MBA 3
8/27/2013
2
Dr. Lal PathLabs- case studyHow a family owned business
worth Rs. 43 Crore turned into a Rs. 500 Crores professionally run chain
8/27/2013 Marketing-- Dr. Lal pathlabs
3
Brief History Dr. Arvind Lal is the pioneer of Dr. Lal
PathLabs Started in 1949 Experience of over 6 decades Annual revenue of Rs. 500 Crores Delighting over 10 million customers per year Mr. Om Manchanda joined Dr. Lal PathLabs as
COO in 2005, and in 2008 Mr. Om was promoted as CEO
125 labs and 2000 collection centers all over India
India's leading diagnostic chain8/27/2013 Marketing-- Dr. Lal pathlabs
Marketing-- Dr. Lal pathlabs 4
Old Business Model
Owner Managed
Path Labs
Collection Centers8/27/2013
Marketing-- Dr. Lal pathlabs 58/27/2013
Dr. Arvind Lal Thinking
Expansion of the
business
Marketing-- Dr. Lal pathlabs 68/27/2013
Collection Centers
Partner Labs Owned Labs
Owners
New Business Models
Professional Managers
Marketing-- Dr. Lal pathlabs 7
SWOT Analysis of New Business Model
Strengths
Past experience of 60 yearsStrong brand nameGreat work force
Weakness
Shortage of fundsLimited regional presence
Opportunities
Bigger market to captureRevenue generationEntering into Global worldProfessional Working
Threats
Negative marketingThreat of competitors
8/27/2013
Marketing-- Dr. Lal pathlabs 8
Changes in New business Models
Shifting from regional window to globally recognized Pathlabs
Testing process with zero errorsExpansion into new markets with
150+ new labsStrategic alliances with /
acquisition of existing playersPublic - Private Partnerships
8/27/2013
Marketing-- Dr. Lal pathlabs 9
Challenges faced during the expansion
1) Build trust with the promoters: Change Resistance
2) Need to stay informed: Emotional and practical attachment Win trust and confidence
3) Build the management team: Imperative Investment not cost
8/27/2013
10
4) Focus on larger and long term goal: Emotionally as well as physically tiring Help new hires to settle down Meeting the targets of the company Calm and in control
5) Cultural change: Don’t be revolutionary but be
evolutionary Crisscross the hierarchy
6) Transparency Perspective style of management Set meetings and forums
8/27/2013 Marketing-- Dr. Lal pathlabs
11
7) Invest: Technology System Processes
8) Decision-making: Quality information Meeting with every business department Efforts in right direction
9) Incentives: Fruits for their hard work
10) Learn to forget: Negative experiences
8/27/2013 Marketing-- Dr. Lal pathlabs
12
Marketing Mix of Dr. Lal PathLabs• Mr. Om Manchanda has given emphasis on 5
marketing P’s:• Pricing• Promotion• People• Process• Physical evidence
8/27/2013 Marketing-- Dr. Lal pathlabs
Marketing Mix
Marketing-- Dr. Lal pathlabs 13
My LearningChange leads to developmentBe informed and keep informingGain trust and confidence of
employersBuild a powerful teamTransparency should be the
mantra of management styleContinuous development-
Machinery, human resource8/27/2013
Marketing-- Dr. Lal pathlabs 14
Thank You8/27/2013