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PORTER PRIZE

2018RECOGNIZING THE STRATEGIC ACUMEN OF CORPORATES IN INDIA

Institute for Competitiveness, India is the Indian knot in the global network of the Institute for Strategy and Competitiveness at Harvard Business School. Institute for Competitiveness, India is an international initiative centered in India, dedicated to enlarging and purposeful disseminating of the body of research and knowledge on competition and strategy, as pioneered over the last 25 years by Professor Michael Porter of the Institute for Strategy and Competitiveness at Harvard Business School.

www.competitiveness.in

@arthsastra

WHAT IS PORTER PRIZE ?

Porter Prize is named after Michael E. Porter, an economist, researcher, author, advisor, speaker and teacher. Throughout his career at Harvard Business School, he has brought economic theory and strategy concepts to bear on many of the most challenging problems facing corporations, economies and societies, including market competition and company strategy, economic development, the environment and health care. His research has received numerous awards, and he is the most cited scholar today in economics and business.

The award recognizes the corporates in India based on their best strategy management practices. It is based on four pillars of Capitalizing on industry dynamics, Segmenting strategically, Leveraging unique activities and Exploiting tradeoffs. Organizations who are operating in India and have shown exemplary strategic acumen over a period of time via their activities were considered and further assessed on a robust framework. The business models of organizations are evaluated in terms of Competitive advantage, Competitiveness and Sustainability across their respective category and the winning companies are shortlisted. These companies not only standout in their respective industry but also equally contributed towards the prosperity of the country.

WHY PORTER PRIZE ?

• Propel Companies To Compete On The Basis Of Value Creation, Innovation And Strategy

• Recognize Distinct Strategies That Result In Sustainable Profitability And Enhance Competitiveness Of India

• Acknowledge Those Companies Whose Efforts Created Sustainable Competitive Advantage

• Reward The Efforts Taken To Create Shared Value

• Help The Companies To Gain Industry/Peer Recognition

Food & Beverage

Information, Telecom & Data Processing

Finance, Banking & Insurance

Tourism and Hospitality

Education, Training & Educational Services

Arts, Entertainment & Recreation

Transportation, Logistics & Aviation

Healthcare, Pharmaceuticals & Social Assistance

Retail & Wholesale

Utilities, Electricity, Gas, Water & Power

Petroleum, Chemicals & Plastics

Construction, Real Estate & Steel

Textiles & Apparels'

Computers & Electrical Appliances

INDUSTRY CLASSIFICATION

STAGES OF EVALUATION

UNDERSTANDING STRATEGY

• Make an application by filling the online form

• Application has to be made by the top

management executives

STRATEGY AUDIT

• Shortlisted enterprises would be notified through

an email

• Interactive sessions would be conducted with the

top management executives (CXO’s) of the

shortlisted companies

SELECTING STRATEGY WINNERS

• Results are analyzed with the expert

opinion of jury members

• Recipients of the #PorterPrize would

be announced at the gala event

scheduled in May

STEP 1 STEP 3STEP 2

AWARD CATEGORIES

AWARD CATEGORIES

Creating Shared Value

Creating Distinct ValueExploiting Trade-offs

Industry Architectural ShiftLeveraging Unique Activities

Enabling Social Progress

Excellence in Corporate & Governance

Creating Value Based Healthcare Delivery

Smart and Connected ProductsCreating Shared Value Industry Architectural ShiftLeveraging Unique Activities

Excellence in Corporate Integration & Governance

Smart and Connected Products

AWARD CATEGORY

Once the forces affecting competition in an industry and their underlying causes have been diagnosed, the firm is in a position to identify its strengths and weaknesses relative to the industry.

It involves a number of possible approaches such as:

▪ Positioning the firm so that its capabilities provide the best defense against the existing array of competitive forces.

▪ Influencing the balance of forces through strategic moves, thereby improving the firm’s relative position.

▪ Anticipating shifts in the factors underlying the forces and responding to them, hopefully exploiting change by choosing a strategy appropriate to the new competitive balance before rivals recognize it.

INDUSTRY

ARCHITECTURAL SHIFT

AWARD CATEGORY

The value proposition is the element of strategy that looks outward at customers, at the demand side of the business. The value chain focuses internally on operations.

The value proposition answers three questions:

▪ Which customers?: Within an industry, there are distinct groups of customers, or customer segments. A value proposition can be aimed specifically at finding a unique way to serve the chosen segment profitably. It focuses on end users and the channels.

▪ Which needs?: It appeal to a mix of customers who might defy traditional demographic segmentation. It focuses on products & services and the related features.

▪ What relative price?: The companies have two value proposition: deliver higher value at a premium price or offer a low relative price according to their efficiency.

CREATING

DISTINCTIVE VALUE

AWARD CATEGORY

Fit locks out imitators by creating a chain that is as its strongest link. It creates competitive advantage as well as superior profitability.

Types of Fit:

▪ First-order fit: Basic consistency, where each activity is aligned with the company’s value proposition and each contributes incrementally to its dominant themes.

▪ Second-order fit: It occurs when activities complement or reinforce each other. There lies a synergy, where the value of each activity is raised by the other.

▪ Third-order fit: When fit goes beyond the activity of reinforcement then optimization of efforts occur wherein performing one activity makes it possible to eliminate another.

LEVERAGING

UNIQUE ACTIVITIES

AWARD CATEGORY

Trade-offs are essential to strategy. They create the need for choice and protect against repositioners and straddlers. It purposefully limit what a company offers.

Trade-offs arise for three reasons.

▪ Inconsistencies in image or reputation: A company known for delivering one kind of value may lack credibility and confuse customers if it delivers another kind of value or attempts to deliver two inconsistent things at the same time.

▪ Arising from activities themselves: The configuration of activities that best delivers one kind of value cannot equally well deliver another. In general, value is destroyed if an activity is overdesigned or underdesigned for its use.

▪ Limits on internal coordination and control: Senior management makes organizational priorities clear by deciding to compete in one way and not another.

EXPLOITING

TRADE -OFFS

AWARD CATEGORY

The central premise behind creating shared value is that the competitiveness of a company and the health of the communities around it are mutually dependent and they has the power to unleash the next wave of global growth and to refine capitalism.

It can be created in three ways.

▪ Reconceiving products and markets: Companies can meet social needs while better serving existing markets, accessing new ones, or lowering costs through innovation.

▪ Redefining productivity in the value chain : Companies can improve the quality, quantity, cost and reliability of inputs and distribution while they simultaneously act as a steward for vital natural resources and drive economic & social development.

▪ Enabling community development: For companies to compete and thrive they to create societal and economic progress

CREATING

SHARED VALUE

AWARD CATEGORY

Redefining Healthcare provides an overall framework for diagnosing and solving the immense problem, with detailed action steps in the heath care system. The concept of value refers to the output achieved relative to the cost incurred.

Principles of Value-Based Competition that will help to achieve the alignment of all components of healthcare are

▪ The focus should be on value for patients, not just lowering costs.

▪ Free flow of information that is, information on results and process needed for value-based competition must be widely available.

▪ Innovation in healthcare

▪ There must be unrestricted competition based on results and should not be confined to the local realm instead should be regional and national.

CREATING

VALUE BASED

HEALTHCARE DELIVERY

AWARD CATEGORY

It is increasingly evident that a model of development based on economic development alone is incomplete. It is vital to consider and measure what matters to the society then only a border and inclusive model of development can be created.

Dimensions of the Social Progress.

▪ Basic human Needs: Looks upon how well a region cater to its people’s essential needs by measuring access to nutrition, basis medical care and other utilities such as housing and water.

▪ Foundations of well-being: It is essential to measure whether citizens have access to basic education, can access information and knowledge from both different geographies and if there are the conditions for living healthy lives.

▪ Opportunity: Assess the degree to which a country’s citizen have personal rights and freedoms and are able to make their own personal decisions within a society.

ENABLING

SOCIAL PROGRESS

AWARD CATEGORY

Strategy has been the primary building block of competitiveness over the past decade, and the quest for sustainable advantage is clearly driving the business models nowadays, which eventually influence the corporate integration & governance of an organization.

Crucial components of a thriving corporate environment are

▪ Alignment of company goals

▪ Reinforcement of activities

▪ Effectiveness over time due to performance and governance mechanisms

EXCELLENCE IN

CORPORATE

INTEGRATION &

GOVERNANCE

AWARD CATEGORY

In the 21st century, Information Technology is enabling coordination and integration across the value-chain with customers and business partners. It has transformed the way products and services are creating value and are changing the course of competition.

Smart connected products work in tandem with each other to reap out maximum benefits, they are

▪ Monitoring the product capabilities: Tracking location, production operation, product condition and the surrounding environment to enable new categories.

▪ Controlling the smart and connected product: Physical or remote control of product via embedded software or the product cloud to manage real-time data.

▪ Optimization of product data database: Business logic and big analytical capabilities populate the algorithms that optimize product operation, their use and service and also reveals new product insights

SMART &

CONNECTED

PRODUCTS

RECEPIENTS OF PORTER PRIZE

YEAR 2017YEAR 2016YEAR 2015YEAR 2013 YEAR 2014YEAR 2012

RECEPIENTS OF PORTER PRIZEA W A R D S 2 0 1 7 2 0 1 6 2 0 1 5 2 0 1 4 2 0 1 3

INDUSTRY ARCHITECTURAL SHIFT: An organization that has redefined the industry structure by challenging the very basis of competition, creating new business models, challenging the status quo and exploiting change

__Manipal Global Educational Services

Mahindra Rural Housing & Finance

Indigo Airlines Narayana Health

CREATING DISTINCTIVE VALUE: An organization offering unique solutions to the problems or needs of the customer. Effectively creating new market spaces, segments and providing solutions that redefine the market

DS Group Times Network DHL Express India Dow Chemical International Sealed Air

LEVERAGING UNIQUE ACTIVITIES: Effective rendering of activities across the value chain and creating competitive advantage. It is an understanding that clearly states that good strategies depend on the connection among many things and on making interdependent choices and making a tailored value chain.

SIDBI Yes Bank JSW Steel

Mahindra Logistics Limited & Siemens Technology and Services Private Limited (Joint Winners)

GroupM Media India

VALUE BASED HEALTHCARE: Organizations that have redefined the idea of patient care and fundamentally challenging the economic models within the industry.

Manipal Healthcare Operation Asha Apollo Hospitals Fortis Healthcare Apollo Gleneagles Hospitals

EXPLOITING TRADE-OFFS: Choices that make firms strategies sustainable as they are not easy to match or neutralize. It is about making effective choices that create barrier pertaining to emulation.

__ Adani Wilmar Abbott India Tech Mahindra Uninor

CREATING SHARED VALUE: High impact organizations that has created economic success by redefining markets, products, way of doing business, creating collaborative efforts and in turn creating societal and economic progress

ITC and GSK (Joint Winners)

Abbott India & Godrej Consumer Products (Joint Winners)

Jain Irrigation Systems & JSW (Joint Winners)

Hindustan UnileverRallis India Limited & Godrej Industries (Joint Winners)

ENABLING SOCIAL PROGRESS: Enables and works towards uplifting social indicators

GNFCIntellecap-Aavishkaar Group

Reliance Foundation Essar Foundation _

EXCELLENCE IN CORPORATE INTEGRATION & GOVERNANCE:Enables Drives excellence in corporate integration, governance and explores the synergies between different business divisions because of governance mechanism.

ITC Mahindra Lifespaces Tata Power Company Max India _

ENABLING SMART AND CONNECTED PRODUCTS:__ Mindtree - _

GLIMPSES

The Institute for Competitiveness hosted Professor Michael E. Porter during his visit to India in 2017 after a gap of 14 years. Leveraging on his visit for Porter Prize 2017, the institute joined hands with NITI Aayog to organize the third lecture in the high-powered ‘NITI Lectures: Transforming India’ series by Professor Porter on the theme – Competitiveness of Nations and States: New Insights. The lecture was inaugurated by Prime Minister Narendra Modi and attended by top policy makers including all members of the Cabinet.

GLIMPSES

PREVIOUS SPEAKERS

MASTERCLASS WITH MICHAEL E. PORTER

SESSIONS WITH MICHAEL E. PORTER AT #PORTERPRIZE AND NATIONAL COMPETITIVENESS FORUM

#PORTERPRIZE 2018

PARTNER WITH USP O R T E R P R I Z E 2 0 1 8

AMPLIFICATION PLAN

ON AIR

SOCIAL MEDIA

PRINT MEDIA

• Pre Event Promos will run on the Times Network – news channels to create awareness about #PorterPrize 2018.

• Episodic Promos to promote the 2 part feature series.

• A quarter page Pre Event Ad will be released to promote the upcoming events in Mumbai & Delhi.

• Similarly, a quarter page Tune In Ad will be released to promote the series that will air on television.

• Pre Event buzz will be created on Social Media to promote the agenda of the event.

• Live Coverage from the Mumbai & Delhi events will help heighten engagement levels and interest on the day of the event. Facebook & Instagram Live will result in notifications going out to the viewers/followers, thus encouraging more live engagement.

• The event teasers will be promoted on various social media (Facebook, Instagram, Twitter, YouTube et al) to draw in viewership.

• Videos of the episodes will be uploaded on our Website and YouTube Channel – Arthsastra.

PARTNER WITH US

PRESENTING PARTNER (1) ASSOCIATE PARTNER (2) AWARD PARTNER (8) CORPORATE GIFT PARTNER (2) ROUNDTABLE PARTNER (1)

▪ Prominent presence of logo on the

Backdrop, Podium, Registration Desk

Backdrop, Registration Desk, Thank

you Sponsor Board & Name Tags

▪ Speaker slot at the event

▪ Special table in the front row for

delegates

▪ Special mention in the thank you

note

▪ Screening of corporate film for 3

minutes

▪ Logo presence on the website and

external communication done for

the event

▪ Complimentary delegate passes (12)

▪ Opportunity to distribute company’s

literature

▪ Visibility in post event releases

▪ Space to showcase 4 standees

▪ Prominent presence of logo on

the Backdrop, Podium,

Registration Desk Backdrop,

Registration Desk, Thank you

Sponsor Board & Name Tags


▪ Special seats for delegates

▪ Mention in the thank you note

▪ Screening of corporate film at

the event for 2 minutes

▪ Logo presence on the website

and external communication

done for the event

▪ Complimentary delegate passes

(8)

▪ Opportunity to distribute

company’s literature



▪ Logo presence on the Backdrop,

Podium, Registration Desk

Backdrop, Registration Desk,

Thank you Sponsor Board &

Name Tags


▪ Special seats for delegates

▪ Mention in the thank you note


the event for 1 minute


▪ Complimentary delegate passes

(4)




▪ The award being supported will

be named as “xyz” Porter Prize

Award


▪ Logo presence on the

Backdrop, Podium,





the event for 1 minute


▪ Complimentary delegate

passes (2)



▪ Opportunity to set up a

promotional desk

▪ Space to showcase 1 standee


Backdrop, Podium,


Registration Desk, Thank

you Sponsor Board & Name

Tags


website


passes (2)



RECOGNITION. VISIBILITY. IMPACT.

PARTNER WITH US

COFFEE TABLE BOOK

PARTNER (1)

BENCHMARKING REPORT

PARTNER (1)

BEVERAGE

PARTNER (1)LUNCH PARTNER (1) INTERNET PARTNER (1)

▪ Logo presence on the Backdrop,

Podium, Registration Desk Backdrop,

Registration Desk, Thank you Sponsor

Board & Name Tags


▪ Logo presence in the handbook

▪ Message from the MD in the beginning

and a brief profile of the organization

in the handbook

▪ Complimentary delegate passes (2)

▪ Opportunity to distribute company’s

literature




Backdrop, Podium,






passes (1)



▪ Visibility in post event

releases

▪ Prominent logo presence in

the report


Backdrop, Podium,




Tags


website


passes (1)

▪ Space to showcase 1

standee


Backdrop, Podium,




Tags


website


passes (1)


standee


Backdrop, Podium,




Tags


website


passes (1)


standee

NETWORKING. DIALOGUE. INSIGHT. RESULTS.

COVERAGE OVER THE YEARS

U – 24 / 8, DLF Phase III

Gurgaon – 122 002, Haryana, India.

E-mail : [email protected]

URL : www.porterprize.in