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Organisational resilience during pandemic – VDMA Survey Report

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LI Ping HR Director / BHS Corrugated Machinery(Shanghai) Co.Ltd

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M+V is very professional in India HR market. They were able to provide us with strong support in our recruitment. We are satisfied with their service.

Falk Tzchichholz Sales Manager Export / Kjellberg Vertrieb GmbH

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With the incubation solution from Maier + Vidorno , we successfully placed our products in the Indian market and established valuable product market presence, which we can now build on further with our subsidiary

Andreas Dauerbock Quality Assurance / Voestalpine Grobblech GmbH

BIS registration project
The BIS registration project went smooth and efficient. We are very satisfied with the way the documentation, communication and inspection on-site was handled from the Maier+ Vidorno Team. We are happy to recommend working with M+V in India – with the expert’s advice you will need.

Rajesh Nath Managing Director / VDMA India Services Pvt Ltd German Engineering Association

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India has great investment potential for foreign companies if you manage the highly complex business environment professionally. Our experience shows – Maier+Vidorno is a competent partner to efficiently set up and run business.

Bjoern Becker Export Sales / Jumo GmbH & Co KG

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The cooperation of JUMO and Maier+Vidorno is a success story in India since 2008. Our sales, market presence and profitability in India shows constant growth. M+V knows about the challenges foreign companies face while doing business in India – and provides hands-on solutions.

Rene Pluss CFO, Member of the Board / Regent Beleuchtungskorper AG

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    Organisational Resilience during pandemic- M+V Altios

    Maier + Vidorno (M+V Altios) express their sincere gratitude to The German Engineering Federation (VDMA) and their partners for inviting us to be a part of their 10th VDMA Mechanical Engineering Summit 2021 on 08th October 2021 in Bangalore.

    While organizations are still coping with the pandemic, most of them have responded effectively to it. They are very well adapting their businesses to protect their employees as well as to continue serving their customers and business communities. They are striving to reach their target estimates and are rapidly adapting their strategies to address both the challenges and the opportunities created by the global crisis. So what has helped these organizations build resilience?

    The discussion was heavily focused on the acceleration of Automation, Digitalisation of companies activities and Industry 4.0 as a result of the pandemic, which is the need of the hour for creating cross border domain for cooperation. The summit was attended by the esteemed guest speakers Mr Achim Burkart, Consul General, Consulate General of the Federal Republic of Germany, Bangalore, Mr Murugesh Nirani, Minister for Large and Medium Industries, Government of Karnataka, Mr Sreekanta Aradhya B, Global Head Connected Industries Business Area, Robert Bosch Engineering & Business Solutions Pvt. Ltd and many more. Diverse companies and associations like Volvo Group, India, Foreign Trade Division, VDMA Frankfurt, BDB India, Roedl & Partner, SAP India, SIEMENS Technology & Services, Carl Zeiss India to name a few were part of the event. As the world slowly returns to normalcy, it feels great to be attending a physical event, of what it feels like aeons.

    Special thanks to Mr Rajesh Nath, Managing Director, VDMA India and VDMA for organising this event with all the necessary safety measures.

    Resilience during Pandemic

    Focus on people safety & customer’s intimacy have always been close to Indian subsidiaries, no year like this time. As the two-year mark of the global coronavirus (COVID-19) crisis approaches, it is important to learn how some organizations reviewed and revived their businesses thus embarking on the journey of advancing resilience.

    Maier & Vidorno under the flagship of VDMA reached out to more than 65 German subsidiaries in India (categorized as mid to large setups) via in-depth interviews and online surveys to capture their learnings and outlook for the immediate future. We have captured thoughtful insights from business leaders on how the pandemic has helped them build resilience within Engineering Industry.

    What Have We Learnt About Resilience

    Resilience is a journey, not a destination. All companies are resilient, this only helps them learn from others and enhance theirs. Resilience is an interplay of 4 main disciplines – leadership, people, process and product. The interplay and relationships between these segments and harnessing this energy can make companies more or less resilient.

    Key Findings

    • Many respondents said that they have a “defined governance model” where headquarters have a strong role in defining boundaries of cost, risk & speed. Thus, ensuring accountability within top management of Indian subsidiaries.

    • Most of the respondents felt that the “company values and culture” were lived during the pandemic crises. This enabled the top management to make compassionate and humane decisions.

    • All respondents agreed that “commitment” from employees as an attribute had the highest impact due to the decision and stand the organization took for their and community’s wellbeing & safety.

    • Over 80% of respondents said that “empathy” was the biggest leadership behaviour that helped build positivity, motivation and optimism among employees. Putting people’s needs in front of organizational needs helps to smoothly sail through crises.

    • All respondents agreed that “regular communication” is the key to boost the morale of employees. Ongoing training, webinars, seminars and frequent informal meetings to discuss and resolve employee issues and concerns bring more productivity and commitment from employees.

    • A good number of respondents felt that a “forward-looking approach” helped them prepare well for the future and act wisely before the crises hit them. More and more companies are now acting on future-ready business models.

    • Many respondents said that “strong supplier and customer relationships” proved fruitful in challenging times. It ensured uninterrupted business.

    • Working capital management and inventory management were critical during the pandemic. In-depth customer risk analysis, renegotiating terms with suppliers, controlled expenses, cost minimization and reviewing margins were some of the steps taken to ensure flexibility.

    • Almost all the respondents felt that there is a need to accelerate their digitalization roadmap. It is time to embrace Artificial Intelligence (AI), the Internet of Things (IoT) and other similar powerful technologies.

    • Interestingly, few of our respondents observed that individual contributors had increased productivity while team leaders experienced a dip in their performance. These companies also saw that top performer (as assessed earlier) were not impactful which forced them to review evaluation processes to be reassessed to ensure good communicators are evaluated stringently.

    What We Learnt from Companies Who Successfully Sailed Through the Pandemic

    • Innovation is the most important strategic lever in addressing the crisis. Innovations in terms of new digital experiences; products and services in response to changes in customer behaviours and needs; supply-chain and operating-model adjustments to manage risk; sales-model changes; etc. emerged as the key differentiator for those that have gained ground during the pandemic.

    • There is a definite need for the next level of management to be trained in decision making, ensuring that they can manage conflicting priorities while managing business objectives.

    • It is time to walk in the shoes of your people and customers more than ever. Maintaining loyalty through great customer experience should be the focus area. It is important to keep the channels of communication open with customers and employees on the impacts of COVID-19 on the business and the emergency actions implemented. This approach of working in partnership will build a sense of trust, confidence and loyalty amid the uncertainty.

    • Top Management has the responsibility to build a culture of trust, transparency and openness to share concerns and opinions. The culture is a cornerstone that enables employees to deliver as expected, make the right decision and be free to think & innovate. The role of a leader is to appropriately delegate the responsibility and ensure accountability of every team member.

    • It is crucial to have defined rules, structures and processes that drive consistent decision making within acceptable boundaries of cost, risk or speed. Governance enables one to exploit opportunities, mitigate risk and at the same time build accountability within the team.

    • Making the purpose and vision clear for all employees is a prerequisite to building resilience. It should not only be communicated but felt throughout the teams to embrace challenges, change and opportunities. Values are critical to helping employees act on behalf of the organization to capture all opportunities.

    • Operational disciplines such as supply chain resilience are critical now more than ever.

    Support from Experts Who Understand

    Maier + Vidorno offers business consulting services and solutions for companies who want to enter and expand in India. Our consulting team finds solutions and creates successful and efficient organizational structures in India.

    We can assist you with Market Expansion Consulting, Supply Chain Management & Advisory Support, Finance Administration & Consulting, among others. With over 2 decades of experience and over 150 expert professionals in India, we can provide hands-on administrative and operational support to foreign businesses to achieve growth in India.

    M+V has published a report on Organizational Resilience. If you wish to get a copy of the report, please fill the form below.

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