Lala Lajpatrai Institute of Management

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JSK

MANAGEMENT DEVELOPMENT PROGRAMME (MDP) / EXECUTIVE EDUCATION (EE)

MDP / EE on “Implementing Proactive Human Resource Strategies for Organizational Transformation” at JSK AUTO INDUSTRIES, Rajkot, Gujarat on 21-04-2024 from 10.00 a.m. – 5.00 p.m.
About JSK Auto Industries

JSK Auto Industries – Manufacturer of super finishing machine, automotive spare parts & CNC turning centre in Rajkot, Gujarat.
Established in 2018, India, JSK Auto Industries has gained immense expertise in supplying & trading of automotive spare parts, automotive components, automotive plastic components etc. The supplier company is located in Rajkot, Gujarat and is one of the leading sellers of listed products like automotive spare parts, automotive components, and automotive plastic components and is renowned for the best quality products and service. ENGGINNO is the sister company which has been at the forefront in revolutionizing the automotive landscape. Founded by the visionary Mr. Hiren Morabiya, the company is dedicated to the design and manufacturing of Automotive Components under the distinguished “ENGGINNO” brand. As a key player in the industry, they specialize in catering to the dynamic Electric Vehicle (EV) market. Recognizing the immense potential of Electric Vehicles in India, ENGGINNO has strategically positioned itself as a premier provider of Electric Vehicle components. Their extensive range covers spare parts essential for Independent Transmission Assembly, Suspension Parts, Braking Parts, Steering Parts, and various other crucial automotive components. They offer a comprehensive solution, ensuring their clients have access to a diverse portfolio of components for their EV needs.

The Management Team

About Lala Lajpatrai Institute of Management (LLIM)

Lala Lajpatrai Institute of Management, established in 1995, is one of the best Management Institutes located in South Mumbai.The Institute offers an accessible learning experience that integrates education, internships, and research for students by providing a multifaceted, cross-disciplinary learning environment, in order to foster a habit of life-long learning. LLIM strongly believes in the freedom of spirit and wishes to equip its students to carry forward the same spirit and enables them to dream and believe not only to be effective and efficient leaders but also to be visionaries with the faith and courage to redefine limits and rise above the ordinary. LLIM has been ranked high in B-School surveys conducted by various esteemed bodies and publications.

  1. Lala Lajpatrai Institute of Management has been ranked 88th amongst Top MBA Colleges in India in The IIRF – Indian Institutional Ranking Framework B-School Survey in February 2024 conducted by The IIRF – Indian Institutional Ranking Framework.
  2. Lala Lajpatrai Institute of Management has been ranked 95th amongst India’s Top 100 B-Schools in Mumbai in the Times B-School Ranking Survey in February, 2024 conducted by The Times Group
  3. Lala Lajpatrai Institute of Management has been ranked 4th amongst Outstanding B-Schools of Excellence in India in CSR-GHRDC B-School Survey in November, 2023 conducted by Competition Success Review-Global Human Resource Development Centre.
  4. Lala Lajpatrai Institute of Management has been ranked 35th amongst Top B-Schools West-Zone in The Week-Hansa Research B-School Survey in November, 2023 conducted by THE WEEK Magazine.
  5. Lala Lajpatrai Institute of Management has been ranked 65th amongst India’s Top 100 in Return on Investment in India’s Best B-Schools A BT – MDRA Survey in July 2023, conducted by Business Today.

About the MDP / EE:

The Management Development Program (MDP) on Implementing Proactive Human Resource Strategies for Organizational Transformation aimed to equip the senior level professionals with the knowledge and skills needed to drive organizational change through proactive HR strategies. Lala Lajpatrai Institute of Management (LLIM) provides executive training aimed at rendering improvement in productivity and profit-making skills, enhancement of cross functional competencies in development of high performing work space culture, efficient management skills and preparation of result-oriented senior executives. The program addressed several key themes, including the Leaking Bucket Theory, Lifetime Value, Opportunities and Challenges of Fintech, as well as Leadership and Team Building. LLIM faculties ensure that the programme should be a balanced combination of interactive discussions, insightful case role- playing and group exercises to cover vital areas of any business.

 

Key Themes:

  1. Leaking Bucket Theory and Lifetime Value: The Leaking Bucket Theory posits that organizations experience talent attrition over time, akin to water leaking from a bucket. The MDP highlighted the importance of understanding and mitigating this talent loss by implementing proactive HR strategies. Participants learned to identify factors contributing to attrition, such as lack of career growth or poor work-life balance, and develop retention strategies to maximize the lifetime value of employees. By investing in training, career development, and creating a positive work environment, organizations can plug the leaks in their talent bucket and retain valuable employees.
  2. Opportunities and Challenges of Fintech: The MDP explored the impact of Financial Technology (Fintech) on HR practices and organizational transformation. Participants discussed the opportunities presented by Fintech, such as automation of HR processes, data-driven decision-making, and enhancing employee experience through digital platforms. However, they also examined the challenges, including cybersecurity JSKs, adapting to new technologies, and ensuring regulatory compliance. HR professionals were encouraged to embrace Fintech innovations while developing strategies to mitigate associated JSKs and capitalize on opportunities for organizational growth.
  3. Leadership and Team Building: Leadership and team building were central themes of the MDP, emphasizing their critical role in driving organizational transformation. Participants learned the importance of cultivating effective leadership skills, such as vision setting, communication, and emotional intelligence, to inspire teams and navigate change. Team building exercises and case studies encouraged participants to explore strategies for building high-performing teams, fostering collaboration, and leveraging diverse talents to achieve organizational goals. Effective leadership and team building were identified as key enablers of proactive HR strategies, facilitating innovation, and driving employee engagement.

 

 

The objectives of the MDP / EE focused on Implementing Proactive Human Resource Strategies for Organizational Transformation were:

 

  1. To understand the concept of proactive HR strategies and their importance in organizational transformation.
  2. To investigate the Leaking Bucket Theory and its implications for talent management.
  3. To analyze the concept of Lifetime Value and its significance in HR decision-making.
  4. To delve into the opportunities and challenges posed by Fintech in HR practices.
  5. To cultivate leadership and team-building skills essential for spearheading organizational change.

 

The MDP was implemented by LLIM’s Director, Dr. H. J. Bhasin, along with full-time faculty members Dr. Arati Kale and Dr. Kinjal Shah. It combined lectures, interactive sessions, case studies, and experiential learning to delve into key themes of proactive HR management. Faculty members shared insights, while participants engaged in real-world applications and networking to foster a dynamic learning environment.

 

This training programme was developed for senior level managers in the domain specific modules of Strategic Management, Marketing, Finance, Operations and Human Resource. Around 18 participants participated in the program and comprehended the intricacies and significance of management strategies.

 

SESSION SCHEDULE on 21-04-2024

 

DETAILS

TIME

SPEAKERS

 

Inaugural Address

10:00 a.m. to 10:25 a.m.

 

Session 1

Leaking bucket theory and Lifetime value

10:30 a.m. to 12:00 noon

Dr. H. J. Bhasin

 

Lunch Break

12:00 p.m. to 12:45 p.m.

 

Session 2

Opportunities and Challenges of Fintech

12:45 p.m. to   2:15 p.m.

Dr. Kinjal Shah

 

Tea Break

2:15 p.m. to 2:30 p.m.

 

Session 3

Leadership and Team Building

2:30 p.m. to 4:00 p.m.

Dr. Arati Kale

 

Q & A and Valedictory

4:00 p.m. to 5:00 p.m.

 

Session 1:- Leaking bucket theory and Lifetime Value by Dr. H. J. Bhasin

Dr. H. J. Bhasin started his online session (last minute change from offline to online mode of conducting session, due to personal medical emergency) with the innovative topic of “Leaking Bucket Theory and Lifetime Value”. He explained that all businesses lose customers but some businesses lose customers at a faster rate, than others. The problem is known as Customer Churn – the number of customers who leave the company in a given period. There are two ways to deal with this. The first is to look for new customers to make up for the loss. The second is to use Customer Relationship Marketing techniques to develop strong bonds with existing customers, so they keep coming back for more. Marketers explain this concept using the metaphor of the Leaking Bucket. He emphasized that Lifetime Value or LTV is an estimate of the average revenue that a customer will generate throughout their lifespan as a customer. This ‘worth’ of a customer can help determine many economic decisions for a company including marketing budget, resources, profitability and forecasting. He highlighted that every interface with the Customer should not be a ‘transaction’ but a ‘relationship’.

Session 2:- Fintech and Crowd funding by Dr. Kinjal Shah          

Dr. Kinjal Shah began her session by highlighting the concept of FinTech (Financial Technology) which is a catch-all term referring to software, mobile applications, and other technologies created to improve and automate traditional forms of finance for businesses and consumers alike. FinTech can include everything from straightforward mobile payment apps to complex blockchain networks housing encrypted transactions. She covered Crowdfunding, explaining how businesses, organizations or individuals fund a business without traditional means with small donations from many people. By receiving the necessary boost to cash flow, these ventures can get off the ground or launch new projects. Most of these campaigns happen via internet platforms, have set time frames for when money can be raised and disclose specific monetary goals.

Session 3:- Leadership and team building by Dr. Arati Kale 

     

  • Leadership Learning through Blindfolded Obstacle

Blindfolded obstacle is a unique and challenging way to develop leadership skills. By removing the sense of sight, participants are forced to rely on other senses, communication, trust, and teamwork to navigate through the obstacles. Leadership and a sense of direction is associated with this blindfold obstacle activity. A non-blindfolded person (leader) in the back of the line will give directions through non-verbal cues to complete a task. This will develop key skills such as trust-building, effective communication, collaboration, problem-solving, adaptability, and emotional intelligence. This activity can be a valuable tool for leadership development and enhancing teamwork in various settings.

 

  • The Marshmallow Challenge

The Marshmallow Challenge is a popular team-building activity that involves building the tallest freestanding structure using spaghetti sticks, tape, string, and a marshmallow. The objective is to place the marshmallow on top of the structure, and the team with the tallest standing structure wins. This challenge has the ability to teach valuable lessons in teamwork, collaboration, innovation, and problem-solving. The background of The Marshmallow Challenge stems from the need to develop skills that are essential in today’s rapidly changing and complex work environments.

  • Geometrical Pictionary – The Right Communication Geometrical Pictionary is a game that combines the elements of the classic drawing game Pictionary with geometric shapes and figures. Instead of drawing objects or words, players use only geometric shapes to represent various objects, concepts, or words. The challenge lies in effectively communicating the intended message using only geometric shapes and symbols to the person who will be drawing and guessing the article. Typically, he / she is not allowed to ask questions to the instructors while drawing. This game proved how hard it is to give clear instructions as well as how hard it is to listen, and can also show how things are easily misunderstood or misinterpreted.

 

The programme was much appreciated and well received by the participants.

Mr. Hiren Morabiya – Managing Director of JSK Auto Industries, enthusiastically attended the entire event and congratulated the trainers and trainees for the interactive sessions. Further he added that this MDP / EE was an enlightening journey that has profoundly impacted our organization. The program skillfully integrated essential themes such as the Leaking Bucket Theory and Lifetime Value, offering invaluable insights into optimizing our human resource investments for sustainable growth. Exploring the Opportunities and Challenges of Fintech provided me with a deeper understanding of how technological advancements can revolutionize our industry landscape. Additionally, the focus on Leadership and Team Building equipped me with practical strategies to foster a cohesive and high-performing team culture, essential for driving organizational change and innovation. I highly recommend this MDP to fellow leaders committed to navigating the complexities of organizational transformation with strategic foresight and proficiency.

 

Ms. Nemi MehtaMarketing Head; appreciated the wealth of knowledge and practical insights gained during this MDP / EE. She found the program content relevant, engaging, and applicable to their professional roles. She was convinced about the digital marketing concept as it offers businesses powerful tools and techniques to capture and retain customers effectively. By leveraging targeted marketing, personalization, data-driven insights, and continuous communication, businesses can build strong customer relationships, enhance loyalty, and drive long-term success.

 

According to Ms. Shivani Joshi – HR Head; the sessions have promoted self-reflection and self-awareness. She gained insights into her own strengths, weaknesses, and leadership styles. She further added that by adopting a proactive people management approach, HR can contribute significantly to transforming organizations. HR’s role in strategic workforce planning, recruitment, development, engagement, and change management is pivotal to creating a positive work environment, enhancing employee performance and well-being, and ultimately driving organizational success.

 

As per Mr. Bhavdipsinh Barad – QA Head; added that As the Quality Assurance Head, participating in the MDP was an eye-opening journey enriched with multifaceted insights. The program seamlessly integrated theoretical concepts such as the Leaking Bucket Theory and Lifetime Value with practical applications, providing a holistic understanding of HR strategies. Delving into the Opportunities and Challenges of Fintech illuminated the evolving landscape of our industry, equipping us to navigate disruptions with agility. Moreover, the emphasis on Leadership and Team Building instilled invaluable skills to foster collaboration and drive collective success. This MDP is a must for any professional seeking to lead organizational change with foresight and proficiency.

 

Mr. Dipulkumar Kandoliya – R&D Head; added that As the Head of Research and Development, my experience with the MDP on Implementing Proactive Human Resource Strategies for Organizational Transformation was nothing short of transformative. The program seamlessly intertwined key themes such as the Leaking Bucket Theory and Lifetime Value, providing profound insights into optimizing human capital investment. Exploring the Opportunities and Challenges of Fintech opened new vistas for innovation within our organization, empowering us to adapt to the rapidly evolving technological landscape. Moreover, the emphasis on Leadership and Team Building instilled crucial skills essential for fostering a culture of collaboration and driving cohesive organizational growth. I wholeheartedly endorse this MDP to fellow R&D leaders seeking to navigate complex transformations with strategic foresight and proficiency.

 

Mr. Dipak Parmar – Supervisor; “As a supervisor, participating in the MDP was an enriching experience that significantly enhanced my leadership capabilities. The program effectively integrated key concepts such as the Leaking Bucket Theory and Lifetime Value, providing practical frameworks for optimizing human resource investments. Exploring the Opportunities and Challenges of Fintech illuminated the importance of embracing technological advancements to drive organizational growth. Furthermore, the focus on Leadership and Team Building equipped me with essential skills to foster collaboration and inspire high-performing teams. I highly recommend this MDP to supervisors seeking to leverage proactive HR strategies for organizational success.”

Conclusion

The MDP on Implementing Proactive Human Resource Strategies for Organizational Transformation provided participants with a comprehensive understanding of proactive HR practices and their role in driving organizational change. By addressing key themes such as the Leaking Bucket Theory, Lifetime Value, Opportunities and Challenges of Fintech, Leadership and Team Building, participants gained valuable insights and practical skills to lead HR initiatives effectively. The program emphasized the importance of continuous learning, adaptation, and innovation to navigate the complexities of the modern business landscape successfully. Participants left the program equipped to implement proactive HR strategies that contribute to organizational growth, agility, and long-term success.

 

LLIM extends sincere thanks to JSK Auto Industries for their steadfast support in making the MDP/EE a success. Participants valued the program’s content quality, faculty expertise, and engaging learning atmosphere. Incorporating industry linkage into the program provided participants with industry-specific knowledge, insights, and networking opportunities, enhancing its effectiveness. JSK Auto Industries’ commitment to employee growth was evident, benefiting both individuals and the organization. LLIM remains dedicated to delivering excellence in Management Education and Development and is poised to support future Talent Development initiatives.