tsmg

Tata Strategic conducted a series of workshops and brainstorming sessions to align the client management around long-term business objectives and arrive at key initiatives for the year. Detailed action plans with clear-cut ownership structures were drawn up. Tata Strategic also assisted the client to prepare a detailed budget, define targets/key result areas and put in place robust review mechanisms.

The exercise helped the client achieve a cross-functional alignment around key business objectives and put in place a robust review/monitoring mechanism.

Tata Strategic was asked to enable this by using the Balanced Score Card (BSC).

Tata Strategic developed a strategy map for all businesses and support functions. The map established the link between strategic objectives under four perspectives: Financial, customer, internal process, and learning and growth. Metrics were identified for each objective, ensuring relevance, data availability, ease of implementation and comprehension. Depending on the roles and responsibilities of individuals, BSCs were developed for the top and middle management. To facilitate its smooth rollout, Tata Strategic ensured that the BSC process was understood by people in the client organization responsible for its implementation and modification.

The BSC process has helped the client align the roles and responsibilities of individuals in the organization with the overall strategic direction.

Tata Strategic assisted the client in developing its BSC and prepared a PMS which linked individual performance metrics to strategic objectives. Work plans for 46 senior managers which included performance metrics, targets and degree of difficulty for each target were developed. Interdependencies and support required from other departments were also defined. Key executive buy-ins were obtained at each stage of the assignment to ensure ownership and accountability.

Tata Strategic has further assisted the client to refine its long term strategy and BSC apart from enabling implementation of the PMS. The client has used the PMS to effectively track progress on improvement initiatives while rewarding performance leading to realization of strategic objectives.

Tata Strategic first developed a strategic business planning process for the client. To institutionalise the process, Tata Strategic worked closely with the various SBUs of the company through the first planning cycle. Several workshops were conducted and the necessary exposure and skills were passed on to the client organisation. A planning calendar was also developed, identifying timeline and milestones to be adhered to on an annual basis.

The strategic planning process has since taken root in the company. The process and calendar are being followed regularly. The process has led to greater discipline in factoring in essential elements of the strategic plan. The business performance of several SBUs has improved considerably following stabilization of the planning process. The process has also enabled the corporate management to involve itself appropriately in planning and effectively monitor business performance.