From Business Stability to Business Excellence for a Family-owned Retail Diamond Jewellery Chain
Client Challenge
A 50 year old Diamond Jewellery retailer out losing market share rapidly approached Gemba to support it in its crisis. They had moved out of a location and were aiming at a consolidation. Being a family owned business, the business owner (father) was keen to hand over the reigns of the management to the son. Given this criticality, the HR organization was keen to consult with Gemba to assess the current growth strategy and evolve an action plan that would stabilise the organization.
Gemba’s Solution
Looking at the scenario, Gemba prescribed a multi pronged management audit focussed on Sales, Marketing, HR, Retail Operations, Social Media and Customer Experience. Crucial improvement areas were identified, prioritized and an action plan focused on the needs were provided. Most of the findings were unanimously accepted by the leadership. Important areas like Evolving Vision – Mission for a period of 3 years, Re-engineering their Performance Management System, HiPo talent identification, Restructuring store operations policies were undertaken in Phase 1. The other recommendations were conducted in a phased manner internally.