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HIGH BUSINESS GROWTH

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IRON AND STEEL INDUSTRY

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Achieving high business growth in iron and steel industry

Steel is crucial to the development of any modern economy and is considered to be the backbone of human civilization.

Importance of steel in other business growth

Being a base material used to produce countless other products, steel has a wide-sweeping effect on many industries. Aerospace companies, for example, use steel to build certain aircraft components, while commercial construction companies use it to build homes and skyscrapers.

With the help of major technological advances from the minds of a few great inventors, steel helped fuel the accelerated growth of American cities, railroads, bridges, and factories.

Switching to steel thus positively transformed the transport sector, due to their greater strength and durability and ability to handle the increasingly heavy and faster cars and engines. This led to the mushrooming of many other manufacturing activities dependent on steel and/or transportation.

Widespread innovation for business growth

Abundant natural resources, geographic location, innovation and technology, skilled workforce, transportation infrastructure, vertical integration, capital investment, and demand for steel make a steel industry successful.

Steel manufacturing processes and production are improved by raw materials analysis, raw materials handling, sinter control, blast furnace,

scrap processing, floor materials analysis, laboratory materials analysis and flat sheet gauging.

Emerging technology use

Several factors have contributed to the growth of the Indian steel sector. The availability of materials like iron ore within the country and cost-effective labour have played important roles. Additionally, the Indian steel industry is staying up-to-date with technology through modern steel mills.

Developing a steel hub for business growth

The profitability of most domestic steel makers is set to improve by ₹500-₹2,000/tonne quarter-on-quarter in the three months to September, largely aided by lower cost of a key raw material, according to analysts, even as steel prices fell in the seasonally weak period. It is projected that India’s steel production will further rise by 4-7%, reaching 123-127 MT in the fiscal year 2024.

The Indian government’s National Steel Policy (NSP) introduced in 2017 aims to achieve a steel production target of 255 MT by 2030. The policy envisions per capita steel consumption to reach 160 kg, necessitating a 9% CAGR growth from 2021 to 2030.

Steel-producing centres such as Bhilai, Durgapur, Burnpur, Jamshedpur, Rourkela, Bokaro are situated in a region that makes a hub. Bhadravati and Vijay Nagar in Karnataka, Visakhapatnam in Andhra Pradesh, Salem in Tamil Nadu are other important steel centres in southern India. There shall be a corresponding facility for a hub to make the industry profitable.

Some of the factors which have helped iron and steel industry to develop in India are Iron ore mines, coal mines,

uninterrupted power supply, availability of plenty of water, availability of cheap and abundant labour, transportation, and market for the iron products.

Improving steel quality for business growth

We can improve steel quality by de-embrittlement, electroplating, anodising, stainless steel passivation, and metal polishing and vacuum blasting.

One of the high quality steel is austenitic stainless steel. This quality of steel is non-magnetic stainless steel with higher levels of chromium and nickel. A few major characteristics of austenitic stainless steel are high temperatures’ corrosion resistance, formability, and strength.

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TEXTILES INDUSTRY

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A few questions on your textiles industry business growth

How can a textiles business reach the point for expansion and can move additional options to generate more profit?

How can the textiles business understand its business lifecycle, industry growth trends, and the owner can move to equity value creation?

Do you continue to focus on investing in innovative research, customer growth, and expansion into new businesses?

In your textile industry, how far do the business owners, employees and outside factors influence the success of your textiles business?

Do your textiles business have the capabilities to scale and expand quickly and efficiently, with the ultimate goal of becoming a major player in the textiles Industry?

Can you identify opportunities for high growth in your textiles industry to take advantage of them?

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CEMENT INDUSTRY

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Your business growth is important to your cement industry

Business growth is the expansion of the cement industry in terms of growth in revenue,  customer base, and market share,  or producing more services and goods. Your cement industry should be a unique ecosystem. Your increase in revenue, customer base, or market share indicates your business expansion.

As a business owner, you need to follow unique growth metrics as your cement industry is different. Your different system requires a different individual approach,  a professional touch. If you don’t aim to grow, all your business will suffer. 

In this case, consider attracting new target markets or closing more deals.

Customers help cement businesses grow both directly and indirectly. They can buy more from you or provide you with valuable insights that will allow you to improve. A cement industry that doesn’t invest in regular customer attraction, loses its growth opportunities. And here you can get trapped in a vicious circle because customers prefer to connect with constantly evolving industries.

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PETROCHEMICAL INDUSTRY

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Four types of petrochemicals industry business growth

Petrochemicals business growth can be classified into four main types.

Organic oil refinery or industry business growth. Organic growth implies physical business expansion, i.e. upgrading the customer lines, producing more services, working in several shifts, large space use, opening a new department front, etc. With this approach, expanding your petrochemicals business space lets you produce more services, meet the demand, and serve more customers, clients,  partners and stakeholders.

Strategic oil refinery or industry business growth. This approach can include expanding the services line and reaching new markets via advertising campaigns.

Internal oil refinery or industry business growth. It’s not focused on services but aims to use the current resources more efficiently to optimise the company’s workflow. It can be using a marketing automation system or  advanced ideas such as MGCR or saving some costs by implementing lean systems.

Partnership or merge oil refinery or industry business growth. This approach implies cooperation with another petrochemicals industry or company for mutual benefits. Such a partnership helps companies launch new products or  services together, produce more products or services, grow the markets of both and enjoy customer loyalty of another brand.

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AUTOMOBILES INDUSTRY

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Four stages of automobiles industry business growth

The Automobiles industry face different challenges at each stage of their development.

Startup stage. At the initial stage, the goal of each automobile industry is to survive. The automobile industry starts from the business owner who finds several employees taking several roles. Their main task is to build automobile brand recognition and deliver their product value on a tight budget.

Growth stage. At this stage, the automobile industry has a business model and does its best to grow. Since scaling an automobile business scares lots of automobile entrepreneurs, they often never even risk taking any actions to grow, losing all the opportunities. Maturity stage. This stage makes the owners focus on geographical expansion, building worldwide recognition, and product diversification. Despite a more or less stable growth period, maturity requires more cash flows for implementing new automobile industry strategies and promotions.

Renewal/decline stage. This is a risky one, however, it may still seem stable to the automotive owners. They have regular income and automobile brand awareness and may stop looking for new ways to expand. Hence, if they don’t invest in new ideas and technologies, their business can decay.

MGCR has an in-depth understanding of these stages and your association with us can help you a lot.

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IT INDUSTRY

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How to grow your IT industry business quickly?

Growing an IT business is hard. After reaching some point in expanding your IT business,  it can be a real challenge to find new ways of building your audience,  increasing income, and producing more services. Therefore, we will share some ideas that will help both startups and established IT businesses reach new horizons. 

You can hire talented marketing enthusiasts. Your IT team is fundamental to the success of the IT since, at the very beginning,  an IT business owner performs several roles. So, to reduce some workload and deal with more important tasks, you need to find people genuinely interested in your services. Your team may include both experienced specialists and marketing beginners,  since the latter may have a great many fresh ideas,  the implementation of which will be within the power of experienced employees. 

You can analyse your competitors. Consider conducting competitive intelligence research. It will help you uncover IT industry trends, get insights into clients’ expectations, predict competitors’ actions, analyze their weaknesses and strengths, and increase your income. This way, you’ll save money and invest in successful IT industry strategies.

You can communicate to us for advanced ideas, insights, tools, techniques and others to grow your IT business.

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BANKING INDUSTRY

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Achieving high business growth in banking industry

Without business growth banking system will fail.

New Sources of Income

What are four major sources for banks?

Sources of Bank Funds are Paid up capital. Reserve fund is maintained by all commercial banks.Profit is another source to a bank for the purpose of business. Borrowing from the central bank.

The Indian banking sector has been delivering robust growth for the past few quarters and Q1 FY24 is among the highest of the growth spurt. For the record, the banking sector posted a net profit of ₹1.02 lakh crore in FY20 but in the next three years, banking companies’ profit increased 135% to ₹2.4 lakh crore.

Banks also invest an important portion of their resources in government and other first class industrial securities. The interest and dividend received from time to time on these investments is a source of income for the banks.

Quality development

Banks handle critical client data and significant transactions 24/7, making QA strategy necessary. QA testing ensures that banking products are defect-free before release, enabling seamless transactions and an outstanding client experience. So, banking systems need QA testing for high-quality mobile apps.

Quality helps to boost reputation, brand value and meet the industry standards.

Infrastructure developments

The financial infrastructure is made up of technical systems through which payments are made and transactions with financial instruments are handled. The financial infrastructure makes it possible for private households, companies and authorities to make and receive payments safely and efficiently.

Corporate culture

Financial services organisations have an impetus to embed their desired culture across every level of their organisation. The expectations and mindset of customers and employees are evolving and complacency can be fatal in today’s global context.

Brand development

Essentially, banks must choose whether to establish a brand inclusive of several segments, focus on specific high-value segments or create sub-brands to engage segments beyond the reach of the main brand. Such decisions are critical to the future of every bank and must be approached with analytic rigour.

Global and local banking connections

The banking institutions should collaborate with diversified partners or specific partners to generate competitiveness and to be resourceful through programmes and partnerships.

MCGR Services 

Your banking institutions can use our MCGR Services to develop your operational excellence and for business growth.

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INSURANCE INDUSTRY

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A few questions on your insurance industry business growth

How can an insurance business reach the point for expansion and can move additional options to generate more profit?

How can insurance business understand insurance business lifecycle, industry growth trends, and the owner can move to equity value creation?

Do you continue to focus on investing in innovative products and research,  customer growth, and expansion into new businesses?

In your insurance industry, how far do the business owners, employees and outside factors influence the success of your insurance business?

Do your insurance business have the capabilities to scale and expand quickly and efficiently, with the ultimate goal of becoming a major player in the insurance Industry?

Can you identify opportunities for high growth in your insurance industry to take advantage of them?

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HOSPITALS INDUSTRY

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Business growth is essential for hospitals for several reasons

Business growth is essential for hospitals for several reasons. One of them is increased competition. The healthcare industry is becoming increasingly competitive, with hospitals vying for patients, insurers, and healthcare professionals.

As a hospital business owner, you need to follow unique growth metrics as your hospital is unique. Your unique system requires a unique individual approach,  a professional touch. If you don’t aim to grow, all your business will suffer.  Let’s consider this process in detail.

Customers help hospital businesses grow both directly and indirectly. They can buy more from you or provide you with valuable insights that will allow you to improve. A hospital that doesn’t invest in regular customer attraction, loses its growth opportunities. And here you can get trapped in a vicious circle because customers prefer to connect with constantly evolving hospitals. So, to close more sales and attract new customers, you need to look for growth opportunities.

Hospitals business growth allows hospitals to blow up their income, expand their services line, partner with suppliers on the most favourable terms, reach new customers and stakeholders, and create a team of high standard healthcare and general professionals.

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PHARMACEUTICALS INDUSTRY

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Four types of pharmaceuticals industry business growth

Pharmaceuticals business growth can be classified into four main types. Each type reviews growth from a different perspective and fits businesses at different stages.

Organic pharmaceuticals business growth. Organic growth implies physical pharmaceuticals business expansion, i.e. upgrading the products lines, producing more products, working in several shifts, large space use, opening a new department front, etc. With this approach, expanding your pharmacy business space lets you produce more services, meet the demand, and serve more clients,  partners and customers.

Strategic pharmaceuticals business growth. This approach works well for long-term goals and pharmaceuticals that have gone through organic growth. They invest the money earned during organic growth into strategic growth strategies. This can include expanding the products and services line and reaching new markets via advertising campaigns.

Internal pharmaceuticals business growth. This approach can be implemented between the organic and strategic types. It’s not focused on products but aims to use the current resources more efficiently to optimise the company’s workflow. It can be using a marketing automation system or  advanced ideas such as MGCR or saving some costs by implementing lean systems.

Partnership or merge pharmaceuticals business growth. As the name suggests, this approach implies cooperation with another pharmaceuticals or company for mutual benefits. Such a partnership helps companies launch new services together, produce more products, grow the markets of both and enjoy customer loyalty of another brand.

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RETAIL INDUSTRY

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Four stages of a retail industry business growth

A theory of retail competition states that retailing institutions, like the products they distribute, pass through an identifiable cycle. This cycle can be partitioned into four distinct stages: (1) innovation, (2) accelerated development, (3) maturity, and (4) decline.

Startup stage. In this stage the retail industry involves- idea generation and mobilisation. New ideas are created during idea generation. Advocacy and screening includes that not all ideas are worth implementing. Experimentation.

Commercialization. Diffusion and Implementation.

Growth stage. The growth stage is the period in a product’s life cycle when it starts to gain popularity in the market. At this stage, more buyers accept the product as one of their top choices and it develops a loyal customer base. As a result, demand for the product increases, improving sales and revenue numbers.

In the growth phase, retail companies experience rapid sales growth. As sales increase rapidly, businesses start seeing profit once they pass the break-even point. However, as the profit cycle still lags behind the sales cycle, the profit level is not as high as sales.

Maturity stage. At this stage, retail business came to certain stability which no longer requires such output from the owner. All the processes have been set and worked well sometimes for years. This stage makes the owners focus on geographical expansion, building worldwide recognition, and product diversification. Despite a more or less stable growth period, maturity requires more cash flows for implementing new retail strategies and promotions.

Renewal/decline stage. Every institution is vulnerable to decline, no matter how great. We found that great companies often fall into five stages: 1) Hubris Born of Success, 2) Undisciplined Pursuit of More, 3) Denial of Risk and Peril, 4) Grasping for Salvation, and 5) Capitulation to Irrelevance or Death.

As the product moves from maturity to decline, so demand wanes and the product can be removed from the market, possibly to be replaced by a newer alternative.

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LOGISTICS AND TRANSPORTATION INDUSTRY

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How to grow your logistics and transportation industry business quickly?

Growing a logistics and transportation business is hard, difficult and complex. After reaching some point in expanding your business, it can be a real challenge to find new ways of building your audience, increasing income, and producing more services. Therefore, we will share some advanced ideas that will help both established logistics and transportation businesses reach new horizons. 

You can hire talented marketing enthusiasts. Talent marketing is a strategic approach used by organisations to attract and retain top talent. This approach involves the use of various marketing techniques and channels to communicate the employer brand, job opportunities, and employee value proposition to potential candidates.

To hire a marketing person effectively, look in the right places, build relationships, use targeted job ad campaigns, evaluate soft skills, and assess their knowledge of your industry. These strategies can help you find, engage, and hire the best talent for your marketing needs.

You can analyse your competitors. While identifying competitors, you may find companies that you didn’t know about or that you didn’t consider part of your competition before. Knowing who your competitors are is the first step to surpassing them.

Conducting a thorough assessment of what your competitors offer may also help you identify areas where your market is underserved. If you find gaps between what your competitors offer and what customers want, you can make the first move and expand your own offerings to satisfy those unmet customer needs.

Make use of MCGR Consulting and promotional tools to increase your logistics and transportation company income, bring communication with customers, partners, clients to the next level, and automate routine processes.

You can communicate to us for advanced ideas, insights, tools, techniques and others to grow your logistics and transportation business.

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POWER AND ENERGY INDUSTRY

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Achieving high business growth in power and energy industry

Power and energy industry includes thermal power manufacturing and other. Here, we will discuss the thermal power and energy industry. Thermal power is a significant part of the energy industry. Without business growth, the industry can not survive.

Strong financial capabilities

In a thermal power plant, power generation economics also consider the cost of feed water for the boiler, which includes water treatment and conditioning expenses. Additionally, running charges include lubricating oil costs and repair and maintenance charges since wear and tear of equipment depend on the plant’s usage.

Expanding the production capabilities locally

Above all, most of the energy loss in a fossil-fuel thermal power plant comes from the steam turbine. The efficiency of a thermal power plant can be improved by either energy conservation within the system or expansion of differences between initial steam parameters and final steam parameters.

Improvement of current production technology to increase production efficiency

The amount of water required to keep the turbines somewhere at the proper temperature appears excessive. Thermal power plants emit enormous volumes of smoke and pollutants, they have an impact on the environment. The power plant’s overall efficiencywas approximately poor. The expense of upkeep seems to be high. New efficient technology is a must.

An economizer is a heat exchanger used for heating the feed water before it enters the boilers. The economizer recovers some of the waste heat of hot flue gases going to the chemistry and thus it helps in improving the boiler efficiency.

Competitive inventory cost

The three main cost components of the inventory cost formula are: cost of capital, inventory handling costs, and inventory risk costs. This must be in alignment with competitiveness.

Strengthening outbound logistics network

Outbound logistics focuses on the demand side of the supply-demand equation. The process involves storing and moving goods to the customer or end user. The steps include order fulfilment, packing, shipping, delivery and customer service related to delivery.

The power and energy logistics process flow typically involves four main steps: energy planning, procurement, production, inventory, and distribution. Planning is the first step and involves figuring out what needs to be done when it needs to get done, and how it will get done.

MCGR Services 

Your power and energy industry can use our MCGR Services to develop your operational excellence and for business growth.

By this involvement your power and energy industry would embrace resilience. sustainability, transition and transformation.

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VENTURE CAPITAL INDUSTRY

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Developing Competitive Advantage in Venture Capital Industry in India

Sequoia Capital

Some of the top VC funds in India include YourNest, 3one4 Capital, Accel India, Matrix Partners, Sequoia Capital, Nexus Venture Partners, and SAIF Partners, among others. India has 1.66K Venture Capital Funds which have a combined portfolio of 15.9K companies.

India continues to rank among top five markets for VC funding activity globally and in fact, accounts for 5.4% of the total number of VC funding deals that were announced between January-October 2023 timeframe. Furthermore, its portion of the corresponding disclosed deal value reached 3.1 percent.

The San Francisco Bay Area and the Boston-New York-Washington Corridor — account for more than 40 percent of global venture investment. Similarly in India venture capital has taken place in Mumbai-Bangalore-Gurugram region.

Competitive advantage in the venture capital market

We must understand why and where our venture capital gets their industry funds and why they don’t.

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What creates a competitive advantage?

Strategy creates a vision that when executed creates a competitive advantage leading to profit and attaining unicorn status.

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In June 2023, Sequoia India and Southeast Asia announced the closing of $2.85 billion that included a $2-billion early-stage, venture and growth fund for India and an $850-million dedicated fund for Southeast Asia.

Executing a strategy, any strategy is risky. Even with the most disciplined execution, not all strategies are successful in creating a competitive advantage, in fact, some strategies result in a competitive

disadvantage despite the best efforts of that company’s strategists.

So while strategy creates a competitive advantage, what maintains that advantage? Assume that the strategy is to offer the lowest cost option. Further, assume that this strategy was effective in earning the company 45% of the market share and making them the market leader. If the company does nothing to strengthen this competitive advantage, what will happen over time? You know, the competitive advantage will erode and then vanish.

In a competitive marketplace, there is no standing still. You are either growing or shrinking. 

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Sequoia India’s portfolio includes Zomato, BYJUS, OYO, Freshworks, Druva, Pine Labs, Unacademy, Razorpay, Cars24, Dailyhunt, Meesho, CRED, Groww, Moglix, Blackbuck, BharatPe, Eruditus, Grofers, Zetwerk, MPL, Apna, CoinSwitch, Rebel Foods, CarDekho, Darwinbox, OneCard, Polygon among others.

When a company’s market share is threatened, what typically happens? We rely on strategy to create a new competitive advantage.

After we execute the strategy, we create a new competitive advantage,

which then erodes over time and we continue the cycle of implementing a new strategy when that new competitive advantage erodes due to competition. Strategic shifts come with an associated risk of being unsuccessful.

Therefore, it would be wise to minimise the number of strategic shifts that are required to create a new competitive advantage because of an eroding existing one.

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