Institutionalising Innovation- Harsh Mariwala
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The document summarizes the journey of Marico Limited from a family-managed coconut oil business to an innovation-driven global consumer products company. It describes how Marico institutionalized a culture of innovation through professionalization, attracting talent, developing corporate values, and empowering employees. Key innovations like Parachute coconut oil helped drive growth. When faced with competition, Marico focused on superior products, distribution, and promotions to overcome larger rivals. Continuous innovation in products and brands helped Marico expand into beauty, health, and new markets globally.
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Institutionalising Innovation- Harsh Mariwala
- 1. A Presentation By HARSH C. MARIWALA Chairman & Managing Director Marico Limited INSTITUTIONALISING INNOVATION
- 2. BOMBAY OIL INDUSTRIES … family managed Turnover Rs. 5 crores … amongst three businesses No Professionals
- 3. BOMBAY OIL INDUSTRIES & Edible oils in bulk… Contributing Rs. 50 Lakhs sales turnover…….
- 8. MARICO CULTURE Sharing of Information OPEN First names – artificial barriers not there INFORMAL Consensus, task force – group work PARTICIPATIVE Autonomy within direction EMPOWERING No Gossip !! APOLITICAL Influence does not work – loyalty not rewarded MERIT BASED Higher responsibilities, cross functional exposure LEARNING Stimulus to organization & person JOB ROTATION
- 9. PARACHUTE JOURNEY…. THROUGH INNOVATION Created the coconut oil usage explosion in consumer packs with HDPE Parachute WM created all season usage ease
- 17. From a Coconut Oil to a Beauty Brand
- 18. FROM A COCONUT OIL TO A BEAUTY BRAND Innovations in the look and packaging of hair oil Aftershower-Gels & Creams Starz-Flavored shampoo & oil for Kids Night Repair Crème-contemporarize use of Parachute Therapie-First scientific solution for Hairfall Jasmine – Expand the market through lighter, fragrant oils
- 19. OUR INNOVATION JOURNEY Built strong equity of Oil on a Heart Platform Saffola
- 22. : FROM AN EDIBLE OIL TO A HEALTH BRAND From an Edible Oil to a Health Brand
- 23. SAFFOLA : FROM AN EDIBLE OIL TO A HEALTH BRAND Lifestyle Products First to introduce oil ‘blends’ – Kardi, Corn Oil blend etc. Diabetes & Cholesterol Management - Entry into the Functional Foods Space Low-Sodium Saffola Salt Edible Oil
- 24. OTHER INNOVATIONS Instant Starch for the harried housewife - Revive Mediker launched in an oil format for greater acceptability
- 33. JOURNEY FROM INDIAN TO GLOBAL
- 34. INCUBATION CELL Emergence of new businesses like
- 36. RAPID GROWTH OF KAYA Revenue – Strong Growth Present in India & Middle East
- 40. RAPID GROWTH Turnover - 1991 to 2009 100 400 700 1000 1300 1600 1900 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Rs. Crore Sweekar and Launch Parachute Cream Kardi Corn Blend CAMELIA & Bangladesh & HAIR CODE - Egypt Hair & Care Revive Dubai Office Saffola Salt MBL formed New Business entry - Kaya Sundari Advansed Parachute After Shower Parachute Relaunch Saffola Gold Silk - N - Shine Parachute Jasmine Parachute Hair Cream - Gulf SIL MEDIKER OIL OF MALABAR AROMATIC - NIHAR MANJAL FIANCEE Acquisition in SOUTH AFRICA 2400 2009
- 41. SHAREHOLDER VALUE SHARE PERFORMANCE ON STOCK EXCHANGES
- 43. SNAPSHOT OF MARICO Local Global Low margin High margin Low value add High value add Oils FMCG Products FMCG Products Beauty and Wellness solutions
- 48. To SUM UP…… Needs a lot of hard work, rigour and persistence Innovation is a journey…. It is exciting, but tough….
Notas del editor
- W/o any capital Investment – able to convert business unbranded to Branded Stage – Do things yourself skill gaps – o/s. Consultants speed, risk taking, courage of conviction. Professor, prof. consultants Take one step – time – gradual – income – distri & people cost.
- Insight Involvement brings in commitment. Org. Communication exercises Survey 2.82 / 3.14 4pt. Rating Top down management 1994 national HRD network award - Best HR Practices.
- Insignificant m/s to undisputed leader Trade – Consumer resistance Lower cost – higher margins – ploughed back Better appearance / convenient use pack WM – Freezing / Year round usage Seal guarantee – difficult to duplicate – technology imported moulds, critical mass Mini – Sales quadrupled
- Competency in insight gathering – conversion to future business ideas Experimentation in Sales Insight projects on live challenges Cementing learning through application For US – Parachute - resource generating engine Full org. back up M. Leaders u/s Business consumer
- Revive Mediker Commoditized market built Brand Health platform with pricing power.
- Smuggling Decision – separate structure imp. M- leader -65% Skinner – Plastics WM Distri. IT Mktg. Inputs Micro mkg.
- Acne – Individualized – Customer Treat Products Ingestible
- Office Trials – Separate structure location team No market research – office –Garage type of clinic Viewed as a separate profit center Vs. Lakme – ayush Holistic – u/s consumer Laser Hair Removal / Visit – clinics Broader options / Dermats. Available – cost / customised Botox, fillers, warts, meso Medispa / Different doctor clinic / In spa ambience World class services No franchising Feedback consumers – 1,2,3,4 rewards call back IT dash board profit dialogue – customers skin habits
- Networking Getting outside –in by travel Putting the best resources on big-bang projects
- LEARNING – FAILURES NEW PRODUCT Ess Com Act Safety People - orgianisation