by Rajen KumarIndia's Manufacturing Muddle
What holds Indias manufacturing sector at the back foot? Why the sector has failed to emerge from the shadow of a strong service sector which has recorded a creditable growth in the...
Special ReportsMar 2014
When you have just decided to go ahead and chase your dream of higher studies, the one you had sidelined for quite some time now, you realize the road ahead is not so...
LRN - Inspiring Principled Performance in Enterprises
Speaking to SME WORLD, LRN's India Operations Head, Devraj Shetty explained LRN's agenda and how they are guiding corporate especially the culture and self-governance.
“We are trying to create an ecosystem where iniduals round the world are addressed in a structured way to do the right things.”
LRN strives to transform culture as to how the company behaves, deals, improve value system,, transform leadership stressing on improving the whole ecosystem of a company.
“We believe that radical changes come when you follow leaders who are path breaking game changers. They are the torch bearers for the present generation.”
LRN professes that the road to growth lies in the sustainability. “For a sustainable and meaningful growth innovation is important. If you don't innovate, you can't grow. And for all this trust in your working environment is very important. We help businesses create trust in the whole business environment and we believe that the element of risk taking goes with that trust.”
According to Shetty, LRN reviews various aspects of the business environment and helps in creating a culture conducive to your growth by holding long drawn sessions deploying diagnostic tools to know their capabilities. “We draw a series of programs of interventions and help them draw a road map of where they want to be.”
Shetty believes that SMEs pose a challenge in terms of right practices, right values and capabilities in attracting the right talent. “SMEs are so consumed in the running of the day to day business that they are found wanting in the right approach to move to the next level. Our message is very relevant to the SMEs because this is this segment which will constitute the next generation of growth.
An unprecedented, global analysis of how companies really work finds that fewer than one in 15 companies in India are self-governing – but that these rare companies experience profound advantages in the marketplace. Globally, fewer than one in thirty companies are self-governing. This is the finding of The HOW Report. The report was developed by LRN and independently conducted by the Boston Research Group, in collaboration with Research Data Technology and The Center for Effective Organizations at the University of Southern California.
The Report looks at how governance, culture and leadership influence behavior and impact performance. The study identifies three business 'archetypes' describing how companies operate: Blind Obedience, Informed Acquiescence and Self-Governance*. The study found that while only 6 percent of companies in India are Self-Governing, 26 percent fall into the Blind Obedience and 68 percent into the Informed Acquiescence archetypes. The global averages are 3% Self-Governing, 43% Blind Obedience, 54% Informed Acquiescence.
Since 1994, LRN has helped 17 million people at 700 companies worldwide simultaneously navigate complex legal and regulatory environments and foster values-based cultures. LRN's combination of practical tools, education and strategic advice helps companies translate their values into concrete corporate practices and leadership behaviors that create sustainable competitive advantage. In partnership with LRN, companies need not choose between living principles and maximizing profits, or between enhancing reputation and growing revenue: both are a product of principled performance. LRN works with organizations in more than 100 countries, and has offices in New York, Los Angeles, London and Mumbai.
Like companies worldwide, companies in India that are Self-Governing perform the highest on every one of the 14 performance outcomes in the study – including higher employee loyalty, customer satisfaction and lower misconduct. Self-governing organizations are also more resilient and observed by their employees to beat the competition, usually by huge margins, on innovation and financial performance.
Among the report's top findings:
- Only 6 percent of companies in India are Self-Governing —meaning that the organizations have high levels of trust, values, commitment to a purpose, and collaboration.
- That 6 percent minority of Self-Governing companies has significant advantages over the competition. They experience:
- Higher Innovation: 90.0 percent of employees observe levels of innovation are high relative to the competition, a. 18.8 percentage point lead over Informed Acquiescence companies and a 43.3 percentage point lead over Blind Obedience organizations.
- Stronger Employee loyalty: 93.3 percent of employees expressed high degrees of loyalty to their companies, 35.6 percent and 7.2 percent higher than blind obedience and informed acquiescence, respectively.
- Higher Customer Satisfaction: 100 percent observe highly satisfied customers versus 70.2 percent for Blind Obedience and 89.2 percent for Informed Acquiescence.
- Stronger Financial performance: 96.7 percent of respondents observe financial performance greater than their competitors, besting Blind Obedience by 40.5 percent and Informed Acquiescence by 22.6 percent.
|Dov Seidman, CEO of LRN
Dov Seidman's career has focused on how companies and their people can operate in both principled and profitable ways. That's the inspiration behind his book, HOW: Why HOW We Do Anything Means Everything. Dov is the CEO of LRN. Since 1994, LRN has helped to shape winning organizational cultures inspired by sustainable values in hundreds of companies with over 20 million people working in over 100 countries.
- Winner of appreciation award for promoting SMEs in India.
- 1st ever Indian magazine to penetrate tier II, III cities & the rural belt.
- Industry Partnerships include CII, FICCI, ASSOCHAM, PHDCC, AIMA, ITPO, SME Network, Federation of Indian Micro Small Enterprises (FISME)
- Official Magazine Partners for several national & international MSME events.
The Last Word
January every year used to be the Great Film Month in Delhi. International Film Festival of India, IFFI used to take place a great get together of film buffs. Youngsters with a taste for the...
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