Monday, August 11, 2008

The story of how Godrej was built... and transformed!

But interestingly, all this restructuring has not shortchanged the employees. Adi professes, “The 20,000+ ‘Godrejites’ who are an integral part of the Godrej Group’s fabric make our success a possibility. This focus on people has made us create policies and practices that help cultivate and manage talent.” Though the key critical issue, as Adi accepts, has surely been “attracting, retaining and managing talent.”

Change within Godrej has also seen this erstwhile household brand manufacturer turn enter the real estate industry. Though Godrej Properties was established in 1990, it’s only in early 2008 that the group has taken up fronting this entity. “The country is witnessing a real estate boom and Godrej Properties will definitely try to cash in on it,” opines Adi to us. But strangely, Godrej is banking big on developing official complexes and malls rather than going for residential complexes. A questionable focus surely. And now, with an IPO around the corner, the company is planning to raise around Rs.600 crores from the equity market [a 49% stake has already been sold to HDFC Ventures].

But perhaps the FMCG sector is where Godrej might finally end up making the maximum noise. “Sector wise, last year, food was driving the FMCG sector but this year there will be growth in the entire segment of FMCG and we believe that such growth will be the highest among all the other sectors,” reveals a confident Adi. Oh yes, we have already witnessed the relaunch of Cinthol in the Indian market with Hrithik as the brand ambassador and the launch of Godrej Renew with Katrina Kaif endorsing the brand.

For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2008
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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