Genpact: Global leader in managing business processes

Genpact started off as a subsidiary to GE. Later in 1997 Mr. Pramod Basin the CEO of the company had the idea of delivering business process management services for GE based out of India. Genpact is in the business of business process management and have been pioneers of this entire industry in the offshore world in particular places like India, China and Eastern Europe. They specialize as pioneers in driving process excellence for their customers. Genpact is a global leader in managing business processes. Genpact offers services to industries like banking and finance, automotive, insurance, manufacturing, transportation and logistics, pharmaceuticals etc. They hence believe that customer centricity is very important and believe in having 100% referenced clients. These clients work as a sales force for its business. All this also proves the company’s differentiators and why it is uniquely positioned to serve its customers in these tough economic times. The company manages over 3000 processes for more than 175 clients and has 37,000 employees in 13 countries supporting over 25 languages. Genpact has developed the Smart Enterprise Processes (SEP) which is a science methodology in managing business processes which focuses mainly on optimizing process effectiveness. Lean and Six Sigma are integrated in the company’s culture and they believe that their management of business process is a science. In fact Genpact was the first to introduce Six Sigma for process Transactions.

“In modern marketing and advertising, values are used to differentiate and positions brands against its competitive brands”. MOOJI, M. 1943. Genpact believes that their culture is expressed in its values and cornerstones and it defines who they are. Their values include a set of seven professional attributes.

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• LEADERSHIP
• PERFORMANCE
• INNOVATION
• INTEGRITY
• PASSION
• TEAMWORK
• RESPECT

LEADERSHIP

Genpact gives a lot of importance to its leadership as it does conduct several leadership development programmes at different leadership levels.

Senior Leadership level

• Senior Leadership Program (SLP)
• Executive Leadership Program (ELP) & Business Leadership Program (BLP)
• Accelerated Learning Program (ALP)

Management level

• New manager Integration (NMI)
• Foundation of Leadership (FOL)
• Building essential Leadership Skills (BELS)
• New manager development course (NMDC)

To Be Mangers

• Genpact Emerging Managers (GEM)
• Front Line Managers (FLM)

PERFORMANCE

• Genpact is a business partner to the world.
• 25 service centers in 13 countries. Provide near shore and off shore solutions round the clock.
• Key differentiators for their performance
• Employees.
• They are Industry expertise in banking and finance, insurance, manufacturing, pharmaceuticals, transportation and business services.
• Their Process Excellence.
• Integration of SIX-SIGMA and the LEAN in the company’s culture.
• Business impact (power to increase the efficiency and effectiveness of today’s business in the world)
• Genpact believes that how Supply Chain Management is to the production industry so is Service Chain Management to the service industry which they provide throughout the world.

INNOVATION

Genpact believes in creating innovation at work. The company thus included different ways in managing and creating more opportunities for employees for example the education at work programme in which an employee works with the company and carries out his education to a most extent paid by the company in the best institutions in the country. One such programme named is the Associate Trainee Programme (ATP).

INTEGRITY

Genpact plays a vital role in protecting the integrity of its clients and its end users it helps provide data protection to its customers and also helps securing client and customer information.

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PASSION

Genpact is proud of the fact that they have successfully balanced their deep focus on process and operational excellence with their passion for people development.

TEAMWORK

Genpact believes that its teamwork culture ensure that it has a passionate, dedicated and talented workforce with multi-lingual skills for all forms of client contact.

RESPECT

VALUE PROPOSITION

The target customers of Genpact would be the fortune 500 companies. However Genpact does not actually promote itself to these companies its promotion is done through word of mouth as its existing clients itself becomes its sales force.

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RESEARCH

A research was done in order to evaluate their value proposition against their target customers. A structured telephonic interview was conducted with one of the managers at the senior leadership level with the help of the media center team. The results of this telephonic interview was that Genpact does not actually do any promotion however its 4 Cornerstones that it is known for draws clients which are included in the top 500 fortune companies. Genpact believes that their 4 Cornerstones are the strengths that differentiate their company.

• Customer Centricity
• Process Excellence
• Employer of Choice
• Best-in-Class

CUSTOMER CENTRICITY

This is one of the main pillars of Genpact. Therefore, the main focus on retaining existing customers and alluring potential new customers has been exemplary. Genpact’s operation includes the extension of the clients operations. The company’s strong operating culture defines its process effectiveness and aims to deliver real business results. The best part being the company has the right skills and services for approaches like these. They believe that honest and regular client feedback enriches their relationship with the client and also that their relationship with the clients as strategic, long term and enduring.

BEST IN CLASS

“Genpact named best business process outsourcing provider by 2008 black book of outsourcing”(Brown-Wilson-Group-2008) http://www.genpact.com/pdf/PR_Genpact_1BPO_BlackBook2008_062608.pdf Genpact is undoubtedly the best in its class and is a close ended argument. It has always been this way in standing far off from its competitors as it has always stressed on process efficiency and effectiveness by integrating Lean, Six Sigma and Smart Enterprise Processes (SEP) which is a science methodology in managing business processes.

EMPLOYER OF CHOICE

Genpact is mainly a people oriented company and it truly believes that energized and happy employees are the key to success. They believe in building and training its employees to ensure that they build a fruitful and a bright rewarding career with the company. The employees are provided with world class training in order to keep up their relative process efficiency.

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Genpact is mainly a people oriented company and it truly believes that energized and happy employees are the key to success. They believe in building and training its employees to ensure that they build a fruitful and a bright rewarding career with the company. The employees are provided with world class training in order to keep up their relative process efficiency.

Genpact is noted for its process excellence because of its highly trained employees and its integration of Lean, Six Sigma and SEP into the processes.

PEST ANALYSIS

“Pest analysis is an acronym for analyzing the external environment (political, economical, social and technological) and setting the stage for strategic planning”. STRALSER, S. 2004. Pest analysis helps review the environment of the market weather it is new or an existing market. This basically gives a snapshot of the external features affecting the company which will impact the industry.

POLITICAL FACTORS

• A change in the government during the elections will majorly impact the company as their will be a change in the legal policies of the government that will affect the company.
• An outbreak of war between countries will impact the organization as they are widely spread all across the globe in 13 different countries.
• The other political factors include areas such as labour law, environment law, tax policy, trade restrictions, tariffs and political stability.

Presently there does not seem to be any major changes in the political arena because the opposition is disintegrated.

The main concern that affects the company from a political point of view is a Free Trade Zone and Better Air links to be established in between India and the European countries to encourage easier connectivity and development of its business in the market.

ECONOMIC FACTORS

• The major economic factor affecting Genpact will be the recession that prevails in most of the economies that it operates from.
• The other economic factors include economic growth, interest rates, exchange rates and the inflation rate. Most of these factors play a major role in how Genpact operates and makes decisions.

SOCIAL FACTORS

The major social factors that affect Genpact will be the following.

• The population growth rate will directly impact the company cause if the economy has an ageing population this will lead to a less willing work force and this will increase the cost of labour.
• Language is a very crucial barrier as it plays a vital role as Genpact operates throughout the world.
• The other factors that affect are the literacy rate, working age population and the unemployment rate of the people. This is also useful to analyze initially when a company wants to start its operation in a particular country.

TECHNOLOGICAL FACTORS