 |
 |
 |
 |
[ Dated - August 2010 ]
2010
• Afcons Infrastructure
• Gammon India
• Hindustan Construction
• IVRCL Infrastructure & Projects
• Jaiprakash Associates
• Larsen & Toubro
• Nagarjuna Construction
• Punj Lloyd
• Simplex Infrastructure
• Tata Projects
It takes much more than just power to command respect - or admiration. That is true as much for the building and infrastructure business as it is for our schoolyards, homes and workplaces. What then, does it take to be admired in the world of construction? It is a combination of the tangible - power yes, financial success, order books and project tallies - but also the intangibles; those attributes that are apparent yet unquantifiable. Like the power of the brand; the credibility the company enjoys on account of its transparency and track record; the trust it inspires among both shareholders and the common man; its legacy to the larger community.
How does one achieve these ends? Well, today, fitness is the mantra for organizations as well as individuals. And. for starters, any company that aspires to be admired has to be 'fit'. A few years ago, Rajesh Srivastava, Former President, JK Helene Curtis, gave us 10 emerging rules to enable a corporation to be 'fittest': focus on intangible assets like brands and human resources; transparency; using generally accepted accounting principles (GAPP); sharing prosperity with employees; compliance with corporate governance; the ability to delight customers; providing related products and services free of charge; good corporate citizenship; having independent directors; and focus on economy value-added framework (EVA) rather than merely profits and profit margins.
Along with getting into shape, so to speak, the company also has to build its brand. This process, according to Professor David Jobber, involves adherence to quality; positioning and then repositioning as and when required; internal marketing; credibility; well-blended communications; and a long-term perspective that will sustain the entire exercise.
Thus, from these tangibles and intangibles, analysts have gleaned four critical points that set an 'admired' company apart: customer perception regarding the value and quality of its product and services; financial performance and market dominance; a passion for employee engagement; and commitment towards social responsibility. These are what separate the grain from the chaff. Companies, who make the cut, go on to set benchmarks for the rest of the industry - building not just a new India but an entire new corporate culture for our nation's construction industry; enabling us to stand proud and compete against the world's best.
Bringing these torchbearers to centre stage has always been CW's mission. We began feting India's Most Admired Companies in 2005 - from ranking the companies earlier, we now list them alphabetically; recognizing they are all winners, giving them an equal share of the spotlight. The process of selection, of course, remains as stringent as ever. We selected 76 contracting and engineering companies that have made their mark; listed them in alphabetical order; and put them to a vote, asking respondents to consider both the tangibles and the intangibles; from sales figures and best business practices to corporate social responsibility. We also gave respondents the option to include three companies of their choice that weren't on the list of 76.
Over 400 responses came in and now the votes are in. Our 10 winners, as always, will be honored at the CW Annual Awards. Read on to find out who they are, what they believe in, and what they have achieved-the reasons why they are here.
