Wadhwani Advantage Self Diagnostic Tools have been specifically designed for small and medium enterprises. These tools help you assess your organization’s functions and processes objectively. The tools help you identify gaps between your current and ideal modes of operations.
The main objective of the diagnosis is to help you identify and take corrective actions to achieve the desired performance.
While the various diagnostic tools enable you to assess your current position with respect to that function/process, they also help you benchmark your organization against industry standards and your competitors.
- Contingency Management
- Business Plan
- Working Capital Management_IFC
- Digital Marketing
- New Market Entry
- Distribution Strategy
- Technology (IT) Strategy
- Channel Management
- GTM Strategy
- Key Account Management
- Consumer Strategy
- Market Assessment
- Diversification Strategy
- Export Strategy
- Service Excellence
Risk/Contingency management/planning creates proactivity. It serves as a source of innovation and business growth in itself, giving you a double win! In short, a good contingency management system represents a well-researched, vetted and realistic opportunity. If disaster strikes, you can activate contingencies in order to fill the void.
Business Planning helps a business identify its goals and design road map to achieve those goals. A well-engineered business plan acts as a guide and gives clarity on the planned activity, resources, timeline and budget requirement. It ensures team alignment and efforts toward a common, shared purpose. It also helps you rope in investments.
Working Capital Management_IFC
Cash is the lifeline of any company and unlocking blocked working capital from the business is the cheapest source of improving availability of cash. Working capital management helps in efficient management of inventory and it showcases the bargaining power you have with debtors and creditors.
The days of cold-calling, knocking on doors, and using traditional advertising are over. The average person spends at least 5 hours per day online. This simple fact is all the reason why you need a digital marketing strategy. A digital marketing strategy includes an integrated plan of how your business will use social media, search engines, emails, and content to promote your business. This tool will help you identify gap between your current and desired digital marketing efforts and outcome, to enable you to take corrective actions. All the best !
New Market Entry
SMEs who have identified New Markets for growth and have done proper Market Assessment should develop detailed Market Entry strategy before they embark on this journey. Once they have developed the Market Entry Strategy, SMEs should also evaluate it on certain parameters identified in the tool before they start executing the plan. This tool helps the SMEs evaluate their Market Entry Plans on various parameters and helps them identify the maturity level of their current Market Entry Strategy.
Distribution is an important tool to gain market share. This is true for all products across the B2B, B2C and B2B2C segments. This tool will help you understand:
- What is the level of aggression necessary in your distribution strategy to succeed in your industry?
- What is the extent of maturity of your existing distribution system?
- What should you do to improve distribution and beat your competition?
Technology (IT) Strategy
IT can immensely help SMEs in shaping their business processes and decision-making. It can work wonders in areas such as efficiency improvement, cost reduction and become a source of value creation. SMEs willing to embrace technology or have already started their tech journey should develop detailed IT strategy and a road map that aligns with their overall organization strategy.
SMEs should regularly evaluate their IT strategy on various parameters to see if their IT efforts are moving along in the right direction.
This tool helps the SMEs evaluate their current IT system on a set of identified parameters and also identifies if SME has right IT / Technology Strategy in place.
Channels are various ways/outlets to market and sell your product/service. A well-engineered channel management system provides a stable framework that can intelligently respond to changing market conditions, improve your sales and reach while reducing your efforts to manage each channel. If deployed well, channel management is an asset and a catalyst for delivering competitive advantage through your partners.
A Go-to-Market Strategy (GTM Strategy) is a tactical framework that breaks down all the steps necessary to succeed in a new market or with a new audience segment. A good GTM strategy help minimize the risks associated with the launch and, as a result, the customers’ trust and affinity towards brand. The tool will help you access your current GTM strategy, identify gaps and areas of improvement.
Key Account Management
Key Account Management is a process that helps sustain and expand relationships with key accounts and works closely with multiple business departments in order to maintain and further develop the relationships with the key accounts. The tool helps you evaluate your current Key account management process and gives recommendation in context to sustainability of the business.
Consumer Strategy is an approach to maximizing the financial value of customers, by combining a deep understanding of customer needs, behaviors, and value with the ability to engage specific customers in the optimal way at various touchpoints across the entire relationship with those customers. The tool evaluates your current consumer strategy and recommends actions to be taken to improve it.
A detailed Market Assessment/Landscaping is a must for SMEs who desire to enter new markets for business growth. Market Assessment helps the SMEs understand the opportunities and inhibitors of the market and hence be better prepared.
This tool has two levels.
- Take Level 1 Survey to determine if the chosen market will yield business growth . This gives you a Quick high level Market Assessment
- Take Level 2 Survey to understand your organization’s readiness to tap the market opportunity
As a part of the strategic vision of a company, it is often beneficial to adopt diversification of the products and services portfolio. This tool helps such organizations evaluate :
i) If they should diversify now
ii) Favorability of the environment for diversification
iii) Extent of readiness for diversification
Exporting offers the prospect of new markets, more sales, better profits and a greater spread of customers. A clear strategy makes it much more likely you will succeed. Your export strategy should be based on an assessment of your own position and research into promising opportunities.
Recruitment and Selection is an important operation in HRM, designed to maximize employee strength in order to meet the employer’s strategic goals and objectives. It is a process of sourcing, screening, shortlisting and selecting the right candidates for the required vacant positions and ensuring that business continuity is not hampered through paucity of employees.
Service excellence defines a customer’s experience of a company, beyond just use of the product. A well managed service experience leads to repeat customers, existing customers trying higher priced products and referring the product to new customer. It is also excellent tool for building brand image.