Viren is working with this Travel Agency to develop its growth strategy in the complex travel agency business. One of the key aspects of this engagement is to identify the niche within this highly competitive field which this client can effectively exploit. Also a part of this plan are the marketing and working capital management plan for this Client, as also a plan to effectively systemise, delegate and monitor the preparation and communication of complex travel itenaries.
Viren initially helped this Company draw up its Business Strategy to strengthen its Brand Appeal and Sales Efforts. He has thereafter been helping this client in implementing this suggested Strategy. His initial implementation assistance in 2013-14 included implementation of a brand promotion strategy, recruitment and training of a Sales Force, setting up an organization wide Incentive system and concluding two Joint Ventures to help this Company expand its geographical footprint. This Company grew its topline by 20% in 2013-14.
As per the Corporate and employee targets set for 2014-15 and the initial indicators, the Company is expected to further grow by 30% in this year. This 2014-15 push is expected due greater general employee vigour- bonuses of 25% of annual wage cost were distributed basis the 2013-14 performance, kicking in of orders from the two Joint Ventures signed up last year, investments in the factory and a stronger sales push and renewed branding efforts.
Viren has advised this Client for around twenty months and the future focus is on indentifying related diversification opportunities to help the Company significantly scale up its operations.
As part of his initial strategic advice to this Company, Viren helped them identify key organisational weaknesses, particularly in the areas of financial and risk management and Project Execution. In the ongoing implementation stage, Viren is helping them plug these weaknesses and turnaround their operations. His assistance to this client over the past fourteen months has included strengthening the finance function (including recruiting a Finance Head), negotiating banking limits with its bankers, negotiating with other funding providers, strengthening the project implementation process and instilling an organization wide risk management sensitivity and risk management systems. A significant element of this Change Management process has been communicating the organisation’s strategic goals to it’s employees.
Since Viren’s involvement, this Company has successfully re-negotiated its banking limits with its bankers in a tough economic environment, raised Project Finance funding, de-focused from certain types of projects to de-risk its business portfolio and institutionalized management system.
The Company has achieved initial success in winning new business in line with its new risk optimization Strategy and is making confident moves towards a complete turnaround of its operations. The Company expects to double its revenues in 2014-15 while moving to double digit EBIDTA margin from the 2013-14 breakeven scenario.
Viren is helping restructure this high cost manufacturer. The key areas of work have involved identification of cost cutting opportunities across the organization and suggestion of ways to improve efficiency. Another critical element of Viren’s advise here is succession planning at this organization. After the initial diagnostic Phase, Viren is currently helping this client in implementing his recommendations. The Client envisages atleast a 300 basis points increase in their profitability with implementation of Viren’s recommendations. Accordingly the entire promoter family is gradually getting behind Viren’s cost cutting and transition planning recommendations to ensure a smooth transition.
Viren worked with this Company, which had eight business verticals. The Central theme of Viren’s engagement with this Company was to identify the businesses that the Company should focus on and plan of actions for the non-focus verticals.
Viren studied the attractiveness of each the Company’s businesses, understood the Returns that the verticals were generating for the Company and came up with his recommendations for the Company. Part of the recommendations also dealt with whether to go in for Strategic Sale or In-house wind down for the non-focus businesses.
Viren’s recommendations were accepted by the Company and as a result the Company decided to focus on only 5 out of its 8 business verticals. 2 of the other businesses were sold off and one wound down.
Viren has just started work with this Client who supplies hospital infrastructure and speciality beds to government and private healthcare providers. While the client has significant knowledge, relationships and history in this area, it has been unable to build up an organization that would capitalize on the high growth potential in this area to deliver sustained growth for the Client.
Viren’s initial focus with the Client is to quickly help build an effective team, particularly in the areas of sales, tendering and vendor development, while also ensuring that the new team remains excited about its place of work (search for a new and smart office premises is on and HR processes are being developed) and the team is sufficiently incentivized (a suitable incentive structure is being devised). It is expected that with the implementation of these initiatives, the Company should be able to double its revenues over couple of years.
Alongside, Viren is also working with the Client on developing a Business Plan for entry into a new but related opportunity in the medical equipment area itself.