total industries vision development solutions
TRANSCRIPT
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Case BriefThe Total company is an old company
with diversified operations. The
company is having real success but
now they are faced with problem of
vision formulation. The company have
vision in the mind of Mr. Kumar but
not properly documented. Now they
are trying to develop one common
vision for all their businesses.
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Total Industries : Profile
Chairman: Deepak Kumar Main headquarters: Mumbai
Conglomerate worth 6,000 Crore
Main business: Consumer Electronics,Switchgears, Batteries, Soaps And Oils
Leading business: Consumer Electronics,
1/5 market share
Legacy business: Soaps And Oils.
Current strategy: Diversified Operations
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Terminology
Establishment day jamboree Splurged on employees
Get-together
Camaraderie
Benevolent employer
Cost competitive Re-vitalize the organization
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Terminology
Revisit our basics High brand recall
Unprofessional and ad-hocist
Legacy business (soaps and oils)
Non premium image
Management mumboo-jumboo Turnaround
Economy plank
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Positive points of case
Alert management
Participative management
Far sighted / insightful owners (family
business)
Diversified business
Employee motivation pracetice
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Need for exercise
Business responsibility being transferred to
next generation
Transfer of knowledge to son
Training of son
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Question 1: What should be the basis
of the vision statement of Total
Industries: value for money or
anything else?
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Answer - 1
Options availableValue for Money
Customer satisfaction
Market leadership
Product image
Company imageOthers
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Answer1 (cont)
Features Of the Vision Statement Organizations fundamental reason for
existence beyond just making money
Timeless and unchanging core values
Core values remains unchanged as the firmexperiences changes in technology,
competition, management style.
Big picture but achievable aspirations forthe future
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Answer1 (cont)
Total Industries: Vision should be
based onValue for money
Market leadership through volume
and innovation
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Question 2? How can total
industry develop a meaningfulshareable vision for all its
component businesses?
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Shared vision
All individuals in an organization havecommon mental image and mutually
supported set of aspirations that form basis
of united efforts.
People at all levels share common
inspirational image that compels them to
give their best and realize the dreams. All business units to have common platform
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How to develop the shared vision?
Senior managers to brainstorm and develop
broad frame work and statement
Word craft it into simpler and in few words so
that every body can carry it on person
To popularize it, the Posters, Stickers to be
displayed at every noticeable place of
organizations like walls, entrances, offices,
canteens, notice boards, production floors etc Involvement of all level employees, especially
low level managers
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Question 3: Is it possible todevelop the vision statement
through active employee
involvement and participation?
If yes outline steps in sequential
way?
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Ways of employee involvement
Suggestion boxes
Open competition
Forming of teams at each unit level
Volunteers
Inter unit and business competition
Task forces at all levels having crossfunctional character
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Steps In Formulation:
Schedule of events: open competition andunit level competition
Evaluation by board and select best
Hold ceremony to reward best visionstatements
Task force to develop the overall
statementCirculate to all participants for comments
Adopt it
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Question 4: What are thedangers of building a vision
statement through bottom upprocess?
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Answer - 4
Advantages and disadvantages of
participative management.
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Question 5? Is it possible foranyone to build a business
without an articulated vision?
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Answer - 5
Yes and no both.
Yes example of total industriesNumber of advantages of
having documented vision andmission statements
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Assignment
Developing
The Vision And
Mission Statement
of
Bahria University
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Common lines for vision of university
Learning center
Knowledge house
Research center
Solution center for industry
Development center for nations youth
Renowned / highly qualified faculty.