Rescon Partners: Creating Corporate Strategy and Enabling its Execution through Balanced Scorecard
Founded in 2010, Rescon Partners (The Firm) is a management consulting firm having offices in India and Australia.The Firm has worked with domestic and international clients primarily focused on creating their corporate strategy and subsequently rolling it out via Balanced Scorecard (BSC) framework. Over last seven years, the Firm has covered 18+ industries and a similar number of countries across the world while executing research and consulting assignments. The strength of the Firm is a methodical & disciplined approach towards problem solving through which it offers its clients the following services:
- Corporate Strategy including Business Plans, Market Entry and Go-to-Client strategy
- Strategy Roll-Out/Execution through Balanced Scorecard
- Business Intelligence including Research & Analytics to help Clients take timely and effective decisions
For Rescon Partners, each client is unique,catering to their respective target market and therefore requires a tailored approach.Like any other consulting project, our projects involve extensive research, detailed competitor and market assessment and evaluation of business performance, but the key differentiation emerges while applying principles of problem solving that the team has learnt during their tenure with some of the best consulting firms in the world.In order to ensure rigor and out-of-the box thinking required for problem solving, Rescon Partners has created a team of experienced and bright people who thrive in the ever-changing, and at times unknown, business environment.
- Problem Solving Approach: Leverage in-depth Research, Analysis and Problem solving tools & frameworks to create long-lasting impact
- Partnering Clients: Being a boutique firm, we offer personalized service of experienced professionals while delivering customized solutions throughout our engagement tenure
- Pedigree: Team with diverse professional experience spanning 100+ years including world’s best management consulting firms
- Culture: Values driven Firm with transparency serving MNCs & Domestic clients across industries
The CEO Magazine interviews Manish Chordia – Founding Partner of Rescon Partners
TCM: What is the business problem that Balanced Scorecard(BSC) hopes to address for an organization?
Manish: While the concept of Balanced Scorecard is widely known and the framework has been adopted in many organizations, corporate have not really reaped the true benefits of implementing BSC for a variety of reasons. It is a common misconception in the industry that BSC is a performance management tool while in its true essence, it’s an enterprise wide strategy roll-out framework that has significant contribution in designing the performance management architecture for an organization. We strive to work with organizations that are focused on their long-term strategy and need assistance in executing it thereby traversing the path of‘ Ideation to Execution’. It is a very satisfying experience to see the organizational alignment that BSC brings in to deliver on strategy and how it clarifies role of each stakeholder in achieving long term organizational goals. Employees start seeing their contribution towards delivering on strategic objectives thereby subconsciously bringing about a positive change in their mindset and behaviors.
TCM: Please elaborate on the Road Map and Growth Plans of the firm.
Manish: The Firm is focused on working closely with professionally managed Small &Medium Enterprises (SME) in India-who contribute significantly to India’s sustained 7%+ GDP growth. As per the last CSO estimates, the contribution of Micro, Small & Medium Enterprises (MSME) Products & Services Segment, to our GDP was 37.5%; and their share in India’s exports was 44.7%. This coupled with Govt. initiatives makes this an exciting time for MSMEs in India and we are on a path to expand and bring in value by rolling out strategy through BSC. We hope to grow at least 50% every year and we believe there are enough opportunities across Delhi NCR itself.
In 2015, we were adversely impacted when a sizable chunk of our team was poached by an established e-commerce venture in one stroke,however, the e-commerce meltdown has once again proved that there is merit in methodical and disciplined way of planning and executing. After all, running short Sprints is not our territory, helping clients win Marathons is our forte!
Major achievements for the company
- After having spent 6 months with a client on rolling out strategy through BSC, the client invited us to steer their strategy meeting for Global Leadership
- A client, after having spent considerable time& resources, invited us to “take a look” at a persistent business problem that they were grappling with. We not only successfully resolved their business problem, but have formed a relationship whereby we work with their business transformation team on an ongoing basis
- Established a20-member team for an international client to forecast five year revenues of 1,500 retailers globally
- Presented the concept and business plan for Bicycle Sharing to Vice President of India &also became a part of MoUD task force on the same subject.
- Have been invited to leading business schools of India as a key-note speaker and judge for various events
The people behind the success
An experienced management consultant and a former Fund Manager, is the founding partner of Rescon Partners. He has worked with clients on establishing Vision and Mission, designing long term strategy, rolling out strategy through balanced scorecard. He brings over two decades of rich and varied experience working with esteemed organizations like McKinsey & Co., Crompton Greaves, WNS Global Services and LIC Mutual Fund.
Manish is a Chartered Financial Analyst from ICFAI, MBA from SIBM, Pune and an Electronics Engineer from MANIT Bhopal.
Siddharth brings extensive hands-on experience having set-up offshore operations & managed P&L responsibility for high end strategic research and advisory services including cost optimization for Fortune 500 clients across verticals like Technology, Financial Services & Professional Services. He brings over 16 years of rich experience across firms like McKinsey & Co., KPMG, Pipal Research, a firm founded by ex McKinsey consultants and successfully sold to CRISIL
Sid graduated in Economics from Delhi University followed by MBA (Finance) from SCMHRD, Pune.
Aditya is heading the Australia branch of Rescon Partners. He is a certified practitioner for Prince2, Prosci ADKAR Change management and has gone through Fast Track General Management Certification Program from IIM, Bangalore.
He has 20+ years of diverse corporate experience working in Australia, India and USA with ABB, Crompton Greaves, HCL, and ANZ etc.
Bhavna brings on-board research and analytics skills and an extensive experience of managing multi-functional complex projects aimed at enhancing the top line or improving the bottom-line for the organization.
Bhavna is a Chartered Accountant,, Certified FRM from GARP, US and Bachelors in Commerce from LSR College, Delhi.
Priti brings many years of experience in accounting and administration and manages all the internal affairs of the Firm including accounts, legal and administration. She is also an early investor in the Firm and has successfully managed through difficult early days of the Firm.