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Photo: iStock
Photo: iStock

The Mint Corporate Strategy Awards 2018

Mint's pick out, across four different palettes, companies whose strategies are best suited for the industry they are in

Can a company in a completely new business like electric cars follow the same path to planning its strategy as a company in footwear would? Given the varying demands of the two businesses, it is obvious they will need completely different road maps for success. Indeed, there is no single template for strategy, driven as it is by the state and scale of the business in which a firm is operating.

Against this background, Mint began an exercise last year to pick out, across four different palettes, companies whose strategies are best suited for the industry they are in, and have resulted in significant outperformance across measurable parameters. For this purpose, we used a methodology developed by consulting firm The Boston Consulting Group (BCG) and articulated in the 2015 book Your Strategy Needs a Strategy.

As part of the exercise, BCG consultants evaluated the performance of listed and unlisted companies in India with revenue above Rs2,000 crore. The firms were in sectors which were first classified into four “strategic environments" in which all the evaluated firms operate. The strategic environments were defined by varying levels of market uncertainty, malleability and harshness.

The firms were then measured based on sector-level financials over a three-year period and ranked based on sales, compound annual growth rate, profit before interest, depreciation and taxes (PBIDT) %, return on capital employed (ROCE) % and debt-to-equity ratio, as well as work environment, gender initiatives and corporate social responsibility. Eve­ntually, a shortlist of the top 10 firms was drawn up in each of the strategic environments.

Finally, a jury comprising Rama Bijapurkar, one of India’s most respected thought leaders on market strategy and consumer economy; Cyril Shroff, managing partner at law firm Cyril Amarchand Mangaldas; Sanjay Nayar, chief executive of KKR India; Neeraj Aggarwal, senior partner and managing director, BCG; and R. Sukumar, editor-in-chief, Hindustan Times, at an extended brainstorming session in Mumbai on 1 March, picked the winner in each category, based on their sense of how effectively these companies’ track records positioned them for continuing leadership in their industry.

These elite companies will now be honoured at the Mint Corporate Strategy Awards evening in Mumbai on 23 March. Vice-president M. Venkaiah Naidu will be the chief guest on the occasion, which will also include a fireside chat on the essence of strategy.

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