HARI KRISHNA EXPORTS: CASE STUDY

INTRODUCTION:

“The Hari Krishna Exports: Transforming Employees” case study highlights the managerial and the
strategic issues faced by the management in the fast-paced environment and how the organisation
implements strategies in order to progress in this competitive market of diamond industry and
simultaneously treating the employees as assets to the organisation.

The case provides us the internal as well as the external dynamics affecting a business and how
strategic decisions are made according to the changes occurring in the market.

PROBLEM STATEMENT:

Would such performance benefits be sustainable over the long run for an export house to retain
talented employees? Explain your thoughts?

INTERPRETATION:

To a certain extent, the performance benefits is a sustainable method over the long run for an
export house to retain talented employees as appreciation in the form of monetary aspect can
motivate the employees to strive and accomplish the goals and also builds a sense of responsibility
towards the organization, however, the macro-environment plays an integral part in assessing the
dynamics and can affect the business in the long run.

Below mentioned are a few pointers which I believe can affect the business externally:

1. Government: The Government can make an impact on the business through their
regulations and modification in laws. On the other hand, the business can take assistance
from the government in terms of grants for advancement and innovation in the work under
the Make in India Scheme.

2. Economic: Factors such as GDP, Inflation, can affect a business in terms of profitability and
revenue and thus providing the employees a higher performance incentive can become a
challenge. They can resolve this issue by managing the business costs and building a
sustainable workforce.

3. Technology: Innovation and social media can contribute to the growth in the business of Hari
Krishna Exports. Technology advancement and building the business across the social media
channels can make Hari Krishna Exports stand out in the competitive market.

4. Competition: The strategy adopted by Hari Krishna Exports for retaining the talent workforce
can be easily adopted by its competitors and thus, in order to refrain or limit their
competitors from doing so, they have to identify market niche and focus on research and
development so that they can add distinguished features to their products. By adopting
quality marketing strategies so that they can build a loyal customer base. By focusing on
entering or capturing new markets.
CONCLUSION:

Apart from performance benefits, job security, growth opportunities, employee engagement,
employee learning and development, family welfare, labour welfare are some of the key pointers
which needs to be monitored and attained across all the levels in the organisation in order to retain
employees in the longer run.

Hari Krishna Exports has managed to achieve the same as they have been treating their employees
as assets and consider them as family and thus the employees feel a sense of belongingness and a
satisfactory work environment to perform at their maximum capacity.