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Analysis of Strategic Intents

ANALYSIS OF VISION, MISSION AND GOALS AND OBJECTIVES OF POLYCAB

Jain Nilesh Sharma Bharti Parekh Pooja

1/30/2012

Polycab Company profile

POLYCAB, an ISO 9001 : 2000 company is the largest Wire & Cable manufacturer in India with a proven track record of over three decades. The fastest growing company in the Indian Cable Industry with consistent growth. Polycab has crossed Rs. 3400 crore turnover and is set to achieve Rs. 4000 crore turnover during the year2011-12. From a modest beginning with Wires and Cables, over three decades ago Polycab set up State of Art manufacturing facilities at Daman in 1996. In the manufacture of cables, a competitive edge lies not so much in product innovation as in consistent quality and ready availability. Polycab s Daman & Vadodara Manufacturing Facilities on 250 acres of land was created to address these key market determinants. The manufacturing set up is sourced out from the world renowned Machinery and Technology suppliers with constant upgradation and expansions. In an on-going process to improve Customer Satisfaction, Polycab offers a variety of services : Commercially competitive prices. Reliable & consistent quality. Reliable & just in time delivery. Product development for a changing market. A targeted stocking policy. Technical Support for Applications/Projects. POLYCAB derives its strengths from its Customers. The Growth of the latter is a prerequisite to the growth of the Company and hence customer satisfaction is its prime objective. Over the years sincere service and dedication of its Customers has earned the Company distinguished clientele & Consultants which includes leaders in Sectors like Utilities, Power Generation, Transmission & Distribution, Petroleum & Oil Refineries, OEM S, EPC contractors, Steel & Metal, Cement, Chemical, Atomic Energy & Nuclear Power etc.

POLYCAB has highly experienced qualified and dedicated professionals with strong adherence to the quality management system. Polycab has offices all over the country and also has a wide network of authorised distributors and dealers to cater to all the customer segments in India and abroad. Product Range y y y y y y y y y y y y y y y y y y y y y y y y y AIR
CRAFT / SPACE STATION / AUTOMOBILES

L.V. PVC & XLPE POWER CABLES WITH COPPER AND ALUMINIUM CONDUCTOR L.V. PVC & XLPE CONTROL CABLES WITH COPPER CONDUCTOR M.V. POWER CABLES UPTO 33 kV EHV CABLES FROM 66kV TO 220kV M.V. / L.V. AERIAL BUNCHED CABLES (ABC) ZERO HALOGEN CABLES FIRE SURVIVAL CABLES (FS) INSTRUMENTATION CABLES SCREENED / UNSCREENED INDUSTRIAL BRAIDED CABLES THERMO COUPLE / COMPENSATING CABLES LEAD SHEATHED CABLES RUBBER CABLES RAILWAY SIGNALLING CABLES TELEPHONE CABLES DRY & JELLY FILLED BUILDING WIRES FR / FRLS / FRZH / FRLF / FRFS SINGLE CORE INDUSTRIAL FLEXIBLES PVC / FR / FRLS / FRZH / HRFR / HR / HR-FRLS / FRLF / FRFS MULTI CORE INDUSTRIAL FLEXIBLE CABLES SUBMERSIBLE FLAT AND ROUND CABLES SUBMERSIBLE WRAPPED WINDING WIRES COAXIAL CABLES LAN CAT-5E / CAT 6 CABLES WELDING CABLES SOLAR AC / DC CABLES STEEL BRAIDED CABLES SPECIALITY CABLES SUITED FOR MARINE /OIL & GAS / EXTREME FIRE CONDITIONS /HIGHLY CORROSIVE ENVIRONMENT / TRAFFIC /

Words of Managing Director

Dear Customers, The journey of over 3 decades would not have been as exciting and fulfilling without the unconditional support of all our customers & our sales partners, I would like to express our deep gratitude to you for you all have made Polycab as one of the outstanding companies in our industry. The advent of the second millennium has brought in its wake a transformation in the mindset of the customers. The expectation of customer has risen exponentially. This trend is here to stay and we have to gear up towards keeping our customers totally satisfied. Despite our rapid growth and elevation to the leadership position in the industry, the simplicity in Polycab s flexibility and openness to new market trends and changing technology continue to be our driving force. The core values of, simplicity, team work, trust amongst people, customer focus and meeting commitments have given us a unique position and respectability among the Indian industry. Gearing up for the future and to keep winning in tomorrow s world, we have our well recognized market presence with a strong product portfolio, streamlined and efficient manufacturing capabilities to withstand the winds of change. But we will need to be even more proactive, agile and customer centric. We will need to anticipate the future and be ready with solutions, even before the customer asks for them. There are many new challenges the cable industry is facing with new market opportunities and product developments, due to thrust in renewable energy sector. They have enthusiastically achieved success towards developing and delivering products for this segment and at the same time ensured to be internationally competitive. Polycab s business model is evolving. We are enhancing our key internal operations to ensure a consistent and positive experience for our customers. Our business processes will begin and end with the customers. We have identified focus areas of growth over the next 5 years and beyond. Polycab aspires to be a Rs. 10000+ crores company within the next 4-5 years. We take this opportunity to thank you and convey our gratitude for the unabated support and trust you have always reposed in Polycab and encouraged it to

move ahead confidently. I am confident that this will keep us ahead and winning in our constant endeavor to continue to be the preferred brand in this competitive market. We hope to improve each day to serve you better. HAPPY CABLING !!! INDER JAISINGHANI Managing Director

Vision
What is vision? Vision is a mental perception of a kind of an environment an organization aspires. It creates within a broad time horizon and underlines the conditions for the actualizations of this perception. Features of vision: A good vision should be Realistic, credible and attractive in itself. Vision describes a set of ideas and priorities. It also represents a true picture of organization in sense of how the company is different from others in industry. It shows the core set of principles that the company stands for and there by compelling criteria s that will help define organization s success.

Vision of Polycab

Analysis of Vision:
As stated earlier a good Vision should be realistic, credible, attractive, directive, represents set of ideas, values, and should set the organization different from others. Let s see how Polycab vision represents this: a. Realistic: The polycab s adopted vision represents a real picture in it. Its objectives at achieving unique position in terms of volume, turnover, and quality in Asian continent. Its current data and future objectives help to set the organization in the path of reality.

b. Credible: the vision has credibility in to it. It is realistic and it is achievable, thus it is easy to believe that the organization can achieve it. c. Attractive: the vision statement is attractive enough. Its words like to achieve a Uno positioned makes the statement attractive. Its objective of achieving a unique position is so broad that it represents long term perspective. d. Directive: statement directs the future plans of organization. Its plans of being Uno in quality direct the future. It makes organization to set its future short term objectives in the path of quality, expansion and marketing. e. Representing set of ideas, values and principles: The word Uno represents unique and words in addition has the word quality in it. Thus it represents the position of unique quality represents the values of organization. f. Different from others: the statement word Uno itself suggest unique. Unique in terms of quality, customer satisfaction by proper supply of goods in time and increments of profits by increasing not the profit margin but turnover. It also supplies wide range of products in cables which no single competitors producer have potential to produce it. Changes in the Vision statement suggested by us: It limits its boundaries to the Asian continent. We believe that company should increase its vision for the world level, because in Asia there are limited players that promise for quality of product and timely delivery. If organization keeps on working in same way in no time it would achieve its objectives as stated in vision and thereby limiting its development and growth after that.

Mission
What is mission? Mission is the essential purpose of the organization, concerning particularly why it is in existence, the nature of business (es) it is in and the customers it seeks to serve and satisfy. Features of mission:

It also indicates broad strategies and represents how the objectives are to be achieved. It should be precise. It should be clear and feasible. It should be motivating, flexible and distinctive.

Mission of Polycab:

Analysis of mission and its statement:

As it is stated that it indicate broad strategies, directs how to achieve them, precise, clear, feasible, motivating, flexible and distinctive. Let us evaluate whether these are available in the polycab s mission. a. Broad Strategies: it represents strategies that how to run business, what should be the methods to achieve them and at what cost it should be achieved. b. Precise: The statement is not precise. It is broad. It specifies the objective of strong brand building, quality standard for customer satisfaction. It gives clearly what to achieve how to achieve. c. Motivating: It is motivating. It motivates the employees to maintain QUALITY; customers as it clearly defines how would be made satisfied. d. Clear: It is clear. It clearly defines what to do, i.e. to build a strong brand, how to do, i.e. through customer satisfaction, and why to do, i.e. for customer satisfaction thus it is very clear. e. Directing: The mission statement of the company is highly directing. It supports vision, company s goals and strategic intent.

f. Organization image: Here company s mission statement is giving wightage to its image it reflects how the company want to be and in what manner it want to achieve. It is also discussing which type of brand it wants to set for itself.

Changes in the mission statement to be made as suggested by us: It should add the business in which he is dealing. It should also add who are the customers it wants to satisfy. According to us statement should be as follows: To build a strong brand image as the cable manufacturer, for its high quality cables and also satisfying the users at highest possible level .

Objectives and Goals:

What are goals and objectives? Objectives are defined as close ended attributes whish are precise and expressed in specific terms. They are time bound programs ad targets. The company s goals and objectives are simple, specific, measurable attainable realistic and time bound. They give directions to decision making. They act as a performance standards and basis for decentralization with integration. They even help organization to peruse its mission and vision.

Objectives of Polycab:
Objective of any company are those which are set by its top management. Here at Polycab also company has same method of setting objectives. The objectives are set by its managing director Mr. INDER JAISINGHANI. The current time period objectives of the company as stated by its M.D. Are as follows: Companies business processes will begin and end with the customers. company have identified focus areas of growth over the next 5 years and beyond. Polycab aspires to be a Rs. 10000+ crores company within the next 4-5 years. They take this opportunity to thank all its stake holders and convey Company s gratitude for the unabated support and trust you have always reposed in Polycab and encouraged it to move ahead confidently. Company is confident that this will keep company ahead and winning in constant endeavor to continue to be the preferred brand in this competitive market.

Action plans taken by company of achievement of objectives:

Analysis of the objectives and action plans:

Here we can see the following features of the objectives as discussed earlier: a. Simple and specific: The objectives are very simple to understand and they are to specific to be. b. Measurable: The objectives given by M.D. are clearly defining how quantitative they are. The objective of being a company of more than 10000+crore within 4-5 years is easily measurable. c. Decentralization: the objectives can be decentralized to various stages. The company have already did it by setting its action for development of Halol and Baska plant as one set of strategy to decentralize objectives, d. Verifiability: the objectives are so specific and simple that they can be easily verified. At the end of 4-5 year the company can easily verify how much did they achieved and how much they lacked. e. Periodicity: The Company s objectives are periodical and time bound. The objectives clearly define that they are time bound for upcoming 5 years.

Conclusion
Thus it can be said that company have strategically defined its strategic intents in names of Vision, Mission goals and objectives. They are all clear precise and achievable. They are not just fluke in the air. They are also motivating. More over they gives direction to decision making of management. They are even