Making Larsen & Toubro Limited a Global Brand
Being the CEO of L & T in 2015, my definite goal would be
to make Larsen & Toubro Limited a trustworthy Indian brand
having significant business in all continents while creating wealth
for the shareholders and welfare to the society.
Our Team L & T shall work with utmost commitment, generosity
& zeal coupled with acumen & vision to build Brand L & T
which people would respectfully love to associate with,
professionals would spontaneously prefer to work with and
organizations would graciously like to deal with.
Becoming formidable leader in our area of business,
beating customer expectations by delivering products & service
with continuous upgradation in safety, quality & productivity and
therefore, setting standard for others to follow would be every
L & T-ites passion.
Formulating ‘Neat, Tidy & Focused’ Business Strategy
Formulating ‘neat, tidy & focused’ business strategy in line with
The company’s aspirations would precede all actions.
We would aim 26% growth over the previous year i.e. making
revenue doubled in every three years. Profit after Tax would be
15% of the gross revenue. 50% of the gross revenue and 75%
of PAT would be earned from international business. A board
headed by Chief Strategist would be set up to devise policy for
business growth in promising markets and potential sectors.
The board would include CEO, directors, representative from
Operating Divisions, Economists and Political Analysts as members.
The board would review the state of accomplishment
vis – a – vis plan from time to time and may revise target &
strategy, if required, considering affecting factors.
Restructuring Organization for more efficient & seamless
Operations
I would reorganize the operating divisions and would bring the
related business functions under one command. There would
be major repositioning in E & C and ECC divisions. All
Mechanical projects (EPC and other) would be executed under
one division. We would merge all mechanical equipment
manufacturing units with HED to form a single division. All kinds
of Electrical jobs, Electrical Products, Control & Automation etc
would come under Electrical & Electronics Division. A separate
division would be there exclusively for civil projects. A team
would be set up for business development and project execution
for turnkey, EPC and other projects which require involvement
of more than one divisions. Operating Division would be divided
in many sectors depending on the nature of the job. Machinery
& Industrial product segment would only be involved in
Industrial valves & construction equipment business. L & T would
finance as well as develop infrastructure projects through a
single subsidiary. L & T Infotech Ltd would be expanded at fast
pace through massive recruitment drive and it would make entry
into untapped domains of IT sector.
Expanding International Operations
We would identify potential countries precisely across the globe
to spread out our business. Our destination countries would be
Mexico in North America. Brazil, Colombia, Argentina, Peru &
Venezuela in South America. Russia, Turkey, Romania, Ukraine,
Poland, Hungary, Czech Republic, Belarus, Serbia & Bulgaria in
Europe. South Africa, Nigeria, Egypt, Algeria, Morocco, Ghana,
Ethiopia, Kenya, Mozambique, Tanzania, Uganda, Congo & Sudan
in Africa. Kazakhstan, Uzbekistan, Cambodia, Indonesia, Malaysia,
Myanmar, Philippines, Thailand, Vietnam, Saudi Arabia, Qatar,
Oman, UAE, Kuwait, Jordan, Syria, Israel, Iraq, Iran,
Afghanistan, Pakistan, Sri Lanka, Maldives, Bangladesh,
Nepal & Bhutan in Asia. We should avoid carrying out any
project execution in China as doing business inside China would
be far from being a congenial affair for any Indian
organization. We would make alliance with local companies to
make foray in the new market, if situation wants. Our
own R & D department would be augmented comprehensively.
If necessity arises, we would collaborate with companies having
superior technologies. Options of Merger & Acquisition (Even Leveraged Buy-Out) would be explored to make giant leap in global arena. Aligned with
our desire to become a multinational company in true sense
and doing business in various parts of the globe at the
backdrop of social, cultural, political, economical and linguistic
diversities, we would recruit employees from different countries
particularly where we have major business interest.
Enhancing Research & Development Department
By merely following others know-how, no engineering &
construction company could be a world leader. Company has to
innovate to be ahead of others. Because of lack of fund as well
as willingness, India Inc. lags far behind in R & D field. Our own
R & D department would be given major boost with substantial
hike in budget allocation. We would carry out special
recruitment drive for R & D department in premier science &
technology institutes. State - of - the - art laboratories would be
set up for R & D. We would work with establishments like IIT,
IISC and CSIR for technological enhancement. We would
Encourage all employees to send their innovative ideas to R & D
Department. Any suggestion having worth would be viewed earnestly and R & D Department would work on it to make it more viable.
Gratifying Human Resources
Human Resources are the prime movers of any organization.
They are the most valuable assets.
Issues related to Employees & Labourers would be resolved on
first priority basis. Appraisal process would be under close
surveillance in order to make it unprejudiced and solely
dependent on the merits & demerits of the employees as per
the prescribed guidelines of the HR Department.
Under-performing employees would be counseled and
guided by seniors of his/her department as well as by HRD
and high-performing employees would be rewarded duly.
Repeated under-perform by an employee would lead to
retrenchment. Performance of the employees would be assessed
in every quarter of the financial year. Any employee having any
grievance regarding his/her appraisal, could approach HRD for
explanation. The company would try its level best to place
employee in his/her preferred department and location. The
management would always strive to make the company more
employee-friendly in terms of compensation, job content, career
growth, work-life balance, facilities, welfare, recreation and thus
making L & T a great place to work. We would introduce flexible
working time and also fix maximum working hours for all employees.
The company would ensure that all regulations and minimum
wages rules are strictly followed as per the law of the land for
all including the labourers engaged by the sub-contracting
agencies working under the company. If safety, quality &
productivity of a job cross a preset benchmark, all employees &
labourers (including sub-contractor’s) would be given incentive
for their contribution as well as to inspire them to keep the
momentum up till the end.
Taking several other effective measures
We would make company affairs more transparent
by introducing kind of Right To Information Act.
Suitable actions would be taken to reduce idle and
breakdown time of the Plant & Machineries.
All offices would be made paperless.
IT literacy would be made mandatory for every employee and
company would arrange training for the employees to achieve
this.
Succession policy would be given due importance. The
company would groom competent employees to replace the
reigning leaders including the CEO at right time.
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