Building a Global Dna ; As Dr Reddy's Becomes More Global, Thanks to Its Recent Acquisitions, Its Focus Is On Building Matching Structures and Capabilities.

Summary

---

G.V. Prasad's spartan corner room at Dr Reddy's headquarters in Hyderabad sports a new motivational sticker: In keeping with its message, it just says "Simplify". For about a year now, Prasad has used that word as a mantra to steer his pharmaceuticals company out of the rough patch it first hit back in 2004, when fierce price competition in the us generics market led to Dr Reddy's first-ever decline in sales and profits the following year. For one, Prasad, 45, has cut down the number of meetings he attends. "I used to have around 15 quarterly review meetings and now these have been cut down to almost half," says Prasad. Another thing he has stopped is to suffer elaborate power-point presentations. "It's a waste of time, it's better to discuss and sort out the issues," he quips.

As the Rs 2,426-crore company starts becoming more global (it has bought a few companies globally, including Germany's betapharm for m480 million this year.), it is putting in a variety of initiatives to gear itself up for the new challenges and opportunities. "There cannot be a big bang initiative that can build a great organisation, it has to be a number of small initiatives," says Prasad. So, in some sense, Dr Reddy's is creating a new global organisation brick by brick. Take, for instance, Prasad's (and COO & MD, Satish Reddy's) one-on-ones with high-potential employees every Friday afternoon. The chat is rarely about company business or customers. Instead, Prasad and Reddy spend the one hour trying to sense employee aspirations and identify career opportunities best aligned to the interests of both the employee and the company. "It helps me understand who they are, where they come from, and what doubts they have," says Prasad. "In that process, I am looking at what role he or she can play in the medium and long term."

See the full content of this document

Extract

---

Building a Global Dna ; As Dr Reddy's Becomes More Global, Thanks to Its Recent Acquisitions, Its Focus Is On Building Matching Structures and Capabilities.

The complexities involved in managing a global business has meant that Dr Reddy's has had to think of ways to foolproof the most important aspect of strategy: execution. As a result, work processes are being simplified and the organisation, debureaucratised. Close to 900 processes and procedures are currently under review and by April next year, many of them would either be getting scrapped or grossly simplified. And it is the weapon Dr Reddy's is using in this fight agai...

See the full content of this document

---