3. Steering the Management Regionally
[6] Main Pillars of 2021 MTP
Steering the Management Regionally
As DENSO delved into the intricacies of its 2021 Midterm Policy (MTP), a blueprint for sustained success emerged, underpinned by strategic pillars that fueled growth and innovation. The key focus areas illuminated the path toward a future where sales expansion exceeded market growth and every organizational function was fortified to meet this ambitious goal.
Sales Triumph
At the heart of the 2021 MTP stood the pivotal pillar of sales expansion, a mission to surpass market growth. The key focus was crystal clear – securing the dominance of DENSO's Powertrain products within Maruti, creating a formidable alliance that promised a high market share. This strategic endeavor aimed not just at maintaining but enhancing DENSO's stronghold in the automotive landscape.
R&D Reinforcement
The second pillar, R&D strengthening, underscored DENSO's commitment to localized development structures. The key focus here was to metamorphose into a system supplier for customers, a response to the evolving regulatory landscape. As new regulations reshaped the automotive terrain, DENSO sought to boost competitiveness both in India and on the global stage. The emphasis on localized development marked a strategic move, aligning the company with the needs of the ever-changing market.
Talent Acquisition and Retention
At the core of DENSO's management philosophy lay the imperative to acquire and retain talented engineers (third pillar), catalyzing business transformation. The key focus was to attract and keep high-caliber talent, especially essential for the robust strengthening of the R&D function. In a world where innovation and technological prowess determined success, DENSO's commitment to nurturing and retaining top-tier talent was a cornerstone of its strategic vision.
Efficiency in Administration
The fourth pillar, aimed at increasing the efficiency of administrative functions through shared services, responded to the pragmatic challenges posed by business expansion. The key focus was to minimize the rise of fixed costs, a strategic imperative in the face of as-is business expansion. DENSO envisioned a lean and efficient administrative framework that would seamlessly support its growth trajectory without succumbing to unnecessary financial burdens.
In weaving these four pillars together, DENSO painted a comprehensive picture of its strategic roadmap for 2021. Each pillar was not an isolated endeavor but a synchronized effort, contributing to the overarching goal of sustainable growth, innovation, and market leadership. This chapter unfolded the main pillars of DENSO's 2021 MTP, a testament to its foresight and proactive approach in navigating the complex landscape of the automotive industry.