S. N. SUBRAHMANYAN
CEO & Managing Director, L&T
If our ultimate business objective is to maximize shareholder value, then for a project-based organization like ours, wowing the customer is critical for success. Understanding what customers are thinking, feeling, saying, demanding, expecting is the first critical step towards delivering to their satisfaction. In today’s world of cut throat competition, it is obvious that winning and retaining customer loyalty is imperative for our continued success. There are several businesses across L&T Construction that have successfully nurtured and built long term associations with customers, winning repeat projects, and delivering handsomely. Kudos to all of them. However, this must be the mantra for every business leader, every project leader and everyone down the line.
Recently, the Hon’ble Prime Minister of India inaugurated the Integrated Transit Corridor Development, at
Pragati Maidan in New Delhi and expressed his delight at the tunnel we have constructed, more specifically the murals that adorn the walls of the tunnel, who also inaugurated Phase 1 of the Ahmedabad Metro that we have constructed for the Gujarat Metro Rail Corporation. One of our teams from WET IC delivered a state-of-the-art sewage treatment plant to our client, ASHGHAL, ahead of time and a team from RREC is readying the Madhya Pradesh Expressway project for delivery to NHAI, again ahead of schedule. The futuristic-looking Terminal 2 at the Bangalore International Airport is almost ready for on time commissioning; by recently setting a world record in tunnelling at the Mumbai Coastal Road project we delighted the client, MCGB, for whom it meant speedy progress. Our PT&D teams have been consistently delivering on time to a variety of customers, while at M&M, we have been winning fresh repeat mandates from
long-standing clients like Tata Steel & JSW. With ‘Customer First’ as one of our core values, we can and must certainly keep this good thing going.
Be a partner for your customer
Customers love a partner. It is therefore imperative for all you, business leaders, to be ‘partners’ rather than mere ‘executors’ to our customers for which it is important to understand their business, their challenges, their goals, and ambitions that will strengthen your position to understand their requirements, anticipate their demands, manage their expectations. It will keep you a step ahead in the game.
No customer is unreasonable. Their demands may seem so at times, but they are not for they too are answerable to someone above them, they too have their own compulsions, their own targets to meet, their own KRAs to achieve. Our focus should unwaveringly be to ‘perform’ and not merely ‘please’ a customer. Often, in our anxiety to please the customer, we tend to over promise and, considering all the risks and challenges involved at site, under deliver. By being aware both of our strengths and shortcomings, we are better prepared to deliver as promised.
Today’s reality is that we are still having to deal with the impact of the several disruptions caused by the pandemic and other geopolitical happenings. Unfortunately, most of our customers have moved on. Continuing to cite these as reasons for non-delivery will not be accepted. In fact, these could put us on the back foot. We must be sharp, resilient, and resourceful to work around these road blocks and continue to deliver.
Keep reminding customers of our value
Be mindful that we always deliver value, and it is important for customers to acknowledge the value that we create for them. This calls for a balanced approach, to deal with customers firmly but fairly and always being on top of all your deliverables. There is no better way to build a bridge with your customer. First impressions still make the best impressions so try and start new client relationships on the right foot. Never, however, take your customer for granted. Be sensitive to them, listen to both what they are saying and implying, avoid being confrontationist, and once you have agreed to deliver, do your best to make it happen. That is how successful business associations are forged.
Empower your teams to excel
Customers feel more secure when they know that there is a team that is working for them and, more so, if the team has people with the ability to ensure progress. By projecting your team to customers, allowing them to present their points of view and participating in decision making, you are not only impressing the customer, but you are, at the same time, strengthening our leadership pipeline. Lead from the front but always make sure that your back is covered.
With a huge order backlog to cover, we need to be on the best wicket with our clients to deliver and keep the order inflow intact. We have delivered in the past and there is no reason why we cannot now.
Here’s wishing you all the very best! Let’s together seize the day!