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4.Change in decision making The partha system of daily financial reporting which focused mainly on production was replaced with an Economic value added model. This model focuses on the aspects of profitability, asset productivity and growth. o K.M.Birla also established aditya birla management corporation limited, the strategic decision making for ensuring the best practices across the group companies. o K.M.Birla decided to reduce the groups dependence on fiber based business where its market s hare was low. Instead he decided to concentrate on non-ferrous metals as there was less competition and hindalco already had a big presence in the aluminum sector 5.360 degree appraisal o K.M.Birla introduced a 360 degree feedback program in 1999 that perm itted managers to raise questions over his leadership style, managerial ability and also personal traits but he could not define what he expected from his employees. o After the feedback, he issued each senior manager a six page letter mentioning the areas of improvement and his expectations. 6.Scholarships to students and Awards to employees o In 1999 K.M.Birla launched the aditya birla scholarship to promote excellence among students community to cultivate the leade rs of tomorrow. o He said, "cultivating a new generation of managers and cultivating a participative culture are keys to the increasingly energetic, people centered, and performance focused culture we aspire for. o He also launched Aditya Birla awards in 1999 where team achievements recognize d every year . 7.Happiness at work o Birla had also implemented the organizational health survey by the late 1990s, which measured the Happiness at work index . This was carried out to track the employees satisfaction. 8.Hierarchy based on performance of employees o K.M.Birla also brought in some managerial changes in the group. Before K.M.Birla took the chairmanship, the hierarchy in the group was determined by seniority instead of merit. He instituted a performance appraisal system. He decided to imple ment performance management systems,reviwed compensations and accentuated on training to bring meritocracy. o He personally led the recruitment program from business schools. 9.Changes in reporting o He also brought about changes in reporting system being f ollowed at the group. The top 20 executives of the group, who had greater responsibilities in the group, could report directly to K.M.Birla, thereby giving them complete freedom to run their businesses and same holding the more accountable for their perfor mance. Analysts opinion o Several analysts also praised KM Birlas style of functioning. o Analysts believed that K.M.Birla has began to think big in recent times. He usually used to focus more on extracting rather t han betting big on growth. o Despite remaining profitable the companys growth has been slower as compared to its peers in the recent past. It has been reflected in the stock market. where its market capitalization of INR30,000 crores is less than its total turnover .