Goa Management Association (GMA) recently conducted a Seminar on Six Novel Business Strategies to Increase Turnover and Profits by CA Santosh Kenkre on Thursday, 27 March 2025, at Goa Science Centre Auditorium in Miramar, Goa.
Well-known Chartered Accountant, CA Santosh Kenkre, delivered a succinct one-hour talk on innovative strategies to enhance business performance. The session provided practical business strategies, offering over fifty real-world examples drawn from top organisations across the globe, as well as personal experiences and interactions with renowned business and political leaders in India.
Key Highlights
CA Kenkre emphasised the fundamental drivers of business growth and sustainability, focusing on visionary leadership, operational efficiency, quality, reputation, innovation, and market positioning. The key takeaways from the session included:
- Leadership & Business Mindset
- CEOs and senior business leaders are the key drivers of business success
- An Open and Objective Mind (OOM) is crucial for strategic decision-making
- Attitude defines altitude—a leader’s approach determines the organisation’s growth
- Business success is directly linked to focus and seriousness in execution
- Strategic Business Execution
- Infosys’ example: Achieved critical mass before making big leaps
- Quality vs. Cost: Higher quality often demands a higher price but ensures long-term sustainability.
- Constant self and business review from an outsider’s perspective enhances efficiency
- Customer feedback is invaluable – businesses must tailor their products and services to customer needs.
- Innovation & Improvisation
- Sergei Bubka’s example: Continuously improve, breaking personal records repeatedly
- Bill Gates’ Think Week: Allocate dedicated time for deep thinking and innovation
- Encourage a culture of innovation hubs within organisations
- Upgrade the Unique Selling Proposition (USP) every month to stay ahead of the competition
- Marketing & Brand Building
- Marketing Makes Money (MMM)—aggressive and fearless marketing drives growth
- Brand, visibility, and appearance significantly impact business positioning
- Businesses must stay customer-focused and identify what the customer truly wants
- Liaison and relationships play a pivotal role in sustaining business success
- Operational Excellence & People
- Recruit for attitude rather than just skills – the right attitude drives an organization’s success
- Delegation is key – leaders who delegate effectively multiply their impact
- Trust, Train, Transfer: Empower employees by training and trusting them with responsibilities.
- Standard Operating Procedures (SOPs) must be structured, even if they seem boring – structured systems drive efficiency
- Reward staff who provide valuable suggestions or identify process inefficiencies
- Use technology to streamline processes and enhance operational efficiency – always ask, if the work is necessary, is there a better way to do it, can it be delegated, can technology improve efficiency
- Financial Acumen & Strategic Budgeting
- Profit Orientation
- Return on Owners’ Capital Employed (ROOCE)—businesses should focus on optimising capital utilisation
- MBA & Women: Learn from the example of housewives, who are Masters in Budget Adjustments. Women are exceptional at managing and optimising budgets.
- Budgeting and setting clear targets are essential for achieving financial sustainability.
- Business leaders should track competition and appoint a dedicated Competition Tracking Officer.
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The seminar was met with an overwhelming response from attendees, who found the session inspiring and practical. One of the participants shared his thoughts: “Much-needed motivation and a session of introspection that every individual desires at the start of a new financial year. The impactful delivery of business wisdom and success stories, both Indian and global, was truly insightful. Kudos to CA Santosh Kenkre and the GMA team for organising such a valuable event!”
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