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P. Dwarakanath

Managing Change. P. Dwarakanath. Global Competition. Internal desire to excel. New Opportunities. Customers. Mergers & Acquisitions. Govt. Policies/ Regulations. Technological Changes. Triggers for Change. Success of any Corporate Strategy Depends on. How well we Manage Change.

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P. Dwarakanath

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  1. Managing Change P. Dwarakanath

  2. Global Competition Internal desire to excel New Opportunities Customers Mergers & Acquisitions Govt. Policies/ Regulations Technological Changes Triggers for Change

  3. Success of any Corporate StrategyDepends on How well we Manage Change

  4. Our Philosophy… We must recognize that change is a continuous journey and not a destination…no decision is perpetual and there is no ‘right’ way To perform in fast changing environment one needs to keep up the pace i.e. Transform with agility (Glaxowellcome and SmithKline Beecham, HP and Compaq, Daimler and Chryser, Standard Chartered Grindlays)

  5. GSK Story far… • 1958 - HMM Ltd set up in India • 1969 - HMM Ltd. acquired by SmithKline Beckman • 1989 - SmithKline Beckman and Beecham Group merge to form SmithKline Beecham plc • 1995 - Glaxo and Wellcome merge to form GlaxoWellcome • 2000 - GlaxoWellcome and SmithKline Beecham merge to form GlaxoSmithKline

  6. Mergers are about… • Today, mergers are often not about “things”. They are more about “soft capital” like • Thoughts • Methodologies • People • Relationships • But “soft capital” is perishable. • Its fragile, fluid, you cant lock it up at night or prevent it from going away from you • It must be nurtured • “soft capital” is harder to merge • Lack of organisational glue to hold good performers

  7. Our Approach… • A merger is an opportunity: don’t waste it • Paves way for a new identity • “Simply Better” Healthcare Company • Allows establishment of organization's philosophy • Focus on healthcare • Provides scope for creation of a new and effective culture • Simply Better/Simply Better Way/GSK Spirit • Opportunity to establish the 3P Concept • People with winning attitude • Processes that are reliable and robust • Pay off for survival and growth

  8. Five Prerequisites : Sustaining Change • Organization as a hero • Winning Attitude • Strategic Communication • Cumulative Learning • Hardwiring the soft stuff From Promise to Performance

  9. Did you Know? • No.25 on Fortune magazine list of global most admired companies(2000) • No.29 on Fortune’s list of fastest growing companies • Named 5 times to Fortune’s list of most innovative companies (1996-2000) • Twice named to Fortune’s one hundred best companies to work for in America (1999-2000) • Named the world’s leading Company by Forbes Global Business (1999) • Honored as having America’s best sales force by Sales& Marketing Management’s annual survey (1999) ENRON

  10. The ability of companies to be culturally innovative is related to leadership and top management must be responsible for building strong cultures. Leaders construct the social reality of the organization, they shape values and attend to the drama and vision of the organization.

  11. System Culture Strategy • Peer Group Leader • Most Effective Marketer • Leader in new product development • Most efficient producer • Best managed • Cross-sector Linkages • Simply Better • Customer • Innovation • Performance • People • Integrity • ‘Simply Better’ Way • Customer-Driven Quality • Continuous Improvement • Process Thinking • P-D-C-A • Waste Elimination • S T P/PIP

  12. Culture - The Four Dimensions The beliefs that lie at heart of Corporate Culture Values People who embody the Values Heroes Routines of interaction that have strong symbolic qualities Rites & Rituals • The informal communication • system or hidden hierarchy of • power in the organization Networks

  13. Culture: The Invisible Thread • Language that everyone knows, understands and abides by • Irrespective of geographical boundaries or diversities • Simply Better and Simply Better Way • GSK Spirit • Single organisation-wide Mission • Our global quest is to improve the quality of human life by enabling people to do more, feel better and live longer • Strategic Intent • Set of Leadership Essentials: Expectations of behaviour • Reward performance on the same parameters

  14. Changing Culture in the New Economy • Employee Expectations • Security to Personal Growth • Rewards • Salary to Stock Options • Leadership • Top Down to Inspirational • Organisation • Hirearchy to Network • Corporate Goal • Steady Growth to Fast Growth

  15. Vision: Culture should be adaptive to the vision Alignment: Initiatives should be aligned to the Vision & Culture Financial: There needs to be +ve link between investment made and return on human capital ORGANIZATION CULTURE Implementation: Cultural changes should be implemented in such a way that people accept and embrace the changes

  16. Our Mission... Our global quest is to improve the quality of human life by enabling people to do more, feel better and live longer Why are we in Business?

  17. Our Spirit We undertake our quest with the enthusiasm of entrepreneurs, excited by the constant search for innovation. We value performance achieved withintegrity. We will attain success as a world class global leader witheach and every one of ourpeoplecontributing with passion and an unmatched sense of urgency. How we need to behave if we are to achieve our goal

  18. HR Mission Definingthe future Our quest is to facilitate a culture that enables the realisation of human potential As a strategic business partner we strive to attract, retain and develop talent, champion change and manage performance to achieve our goals.

  19. GSK Culture • Nurture Questioning & Challenging • Value not only WHAT but HOW you deliver • Transparency in Systems & Processes • Talent as Key Priority – not mere lipservice • Max-U in WWW, our Business Objectives • Focus on developing our own people “Grow Our Own Timber” philosophy • Employee driven design of Compensation & Benefits

  20. GSKCulture • Encourage employees to use first names • “Breaking the Barriers” • Don’t insist on dress code, relaxed dressing on friday • Bi-Annual All Hands Meeting • Monthly Breakfast meeting with MD

  21. GSK Culture • Reward Philosophy • R3 - Recognize,Reward,Rejoice, Spirit Awards, Business Excellence awards • Paradigm Shift in compensation & benefits philosophy • CLA to HRA • Consolidation of allowances • Post Retirement Medical Coverage • Balance Life Support • Flexi work schedule, Truncated work week, Leave Management,“Thank God It’s Friday”,Clean your desk

  22. “ Take away my money, take away my factories, warehouses and land. But leave my people and within 5 years I will have it all back.” – Alfred Sloan

  23. Organisation culture is a reflection of organisation leadership Both must be driven by forward-looking strategic goals, and reinforced with aligned organisation processes

  24. Thank -You!!!

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