BMGI India Transforming Business Performance with a Strong Focus on Delivering Results
The consulting industry is a multifaceted, global business sector that is facing many challenges and evolving quickly. The recent growth in the developing nations has created myriad opportunities for consulting firms, both in government and private sector contracts, in industries ranging from transportation to energy to health care. Consultancies that do well in this uncertain global economic environment will be those that emphasize their ability to create cost-savings, enhance efficiencies and deal effectively with government austerity programs or other dramatic changes in governmental goals. Management consulting and business advisory firms can assist businesses in identifying specific areas to drive growth. They can assist organizations identify the correct approach for growth, be it through identification of the “right” products/services/solutions, focused customer and market segmentation, understanding the supply demand dynamics and focusing the energy of the organization in profitable growth segments.
There are several good firms in this segment, which provide good consulting and also take the responsibility of implementation. However, today more and more clients are demanding results and not all firms are willing to take on the risk of guaranteeing results. Breakthrough Management Group International (BMGI), headquartered in the US and having its India office in Mumbai, is a global consulting firm that partners with organizations for transforming their business performance with a strong focus on delivering results. BMGI is one of the few firms in the country, which guarantees results to the projects undertaken and is willing to partake in a risk-reward based payout instead of fixed payout model. Unlike management consulting firms that deliver giant binders of strategy recommendations and then walk away or training companies that educate employees but have little interest in financial returns, BMGI helps enterprises define their strategies, train their employees and make improvements that positively affect the bottom line.
“BMGI’s services enable clients to make an informed decision for moving ahead with laser focus towards their vision to achieve their potential. We provide deep insights as sharp minds on hire and a third party objective view coupled with the all-important ‘external perspective’,” says Naresh T Rai singhani, CEO & Executive Director, BMGI India.
Channelizing the Energy in Right Direction
The company uses Balanced Scorecard and Hoshin Kanri approaches that are powerful techniques to assist organizations in translating their vision and long-term goals into specific actions, which touch day-to-day operations or are 90-180 days strategy achievement projects (strategic initiatives). This helps the organization channelize its energies on the high impact projects that are important to achieve its vision and goals.Even if geographies and product or service classes are same, organizations operating in different industries, have different levels of aspirations, have specific product/service variations and have different current capabilities and resource access. BMGI focuses on studying the organization in detail and takes a 360 degrees view. The study evaluates the external scenario for the organization and the internal capabilities so as to determine strategies that the firm needs to work on to achieve stated long-term goals and realize its potential. Balanced Scorecard and Hoshin Kanri approaches then assist in detailing out the strategies for execution. For example, one of the Food Majors with a diversified product portfolio is using the Hoshin Kanri approach to deploy its strategy. BMGI is also assisting a leading Pigments Manufacturer in becoming the fourth largest global player by using The Balanced Scorecard approach.
BMGI team is able to demonstrate innovative thinking with a belief that the spirit of innovation requires free thinking. The company has devised a framework called D4 methodology which is an enabling framework aimed at assisting organizations in making innovation predictable and sustainable. The D4 framework provides an enabling structure to the innovation process and provides the tools and stimuli to assist innovation teams achieve success that is far superior to conventional thinking. The process also accelerates time to market and ensures far higher success rate. “Research has shown that only one out of ten new ideas succeeds”. This success rate can be drastically improved by using D4. The D4 process incorporates the understanding that innovation goes through divergent thinking processes (wherein you are supposed to suspend judgment) and convergent thinking processes, wherein you are trying to evaluate and choose an appropriate outcome,” shares Naresh. D4, which stands for Define-Discover-Design-Demonstrate uses a set of over 70 tools to guide the teams through front-end of the innovation process as well as the back-end of solution development and market launch. BMGI has put its years of research on this subject into several books and articles. One of its books – “The Innovators Toolkit”, details out the overall methodology and provides a quick perspective on several innovation tools to assist organizations in their innovation journey.
Redesign of Business Processes
Be it the well-established organizations or startups, both these sets of organizations find their processes constraining to the new age realities. The required agility, responsiveness, and efficiency are missing. The problem is especially compounded for organizations that are attempting to drive rapid growth. “In such cases, simple tinkering of organizational processes will not be able to achieve the required performance (such as scale or speed) that these processes need to deliver. The answer lies in doing a mega process redesign of the process rather than just tweaking few improvement areas,” explains Naresh. BMGI addresses this issue by starting with a clean slate and completely transforming the processes through the redesign. This enables the process in performing to current and future expectations of efficiency, volumes and speed. The company makes sure that the processes are also mistake-proofed and tested to ensure that the envisaged efficiency, volumes and quality levels can be achieved. The processes are studied in detail with a what-if scenario and aimed for reliable performance to deliver the desired results. Additionally, the supporting infrastructure and team is appropriately scaled and is evaluated for scalability to assist further growth where required. BMGI had assisted the process redesign of various IT processes of a multinational bank, which was then rolled out globally across 18 countries. The company recommends firms with more than 15-20 percent growth rates to evaluate their processes every 18-24 months for scalability and readiness for growth.
Naresh strongly believes that Management Consulting would be a skill set which would remain in demand for times to come. Additionally, as organizations become internally more competent and technology further enables decision-making and strengthens processes, Management Consulting will evolve to the next level of sophistication and continue to create value for businesses. BMGI India is well equipped to ride this wave of change and lead the evolution.