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How we helped a thriving Jewellery Manufacturing & Export Business arrive at their Core Purpose, BHAG & Vivid Statements
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How we helped a thriving Jewellery Manufacturing & Export Business arrive at their Core Purpose, BHAG & Vivid Statements

Client

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About the Client

About the Client

Founded in 1987, FINE was among the first companies to establish an international jewellery unit in SEEPZ, Mumbai. As a leading diamond jewellery manufacturer, FINE blends innovation with craftsmanship to supply some of the largest global brands while meeting specific customer needs. The company’s success is rooted in a commitment to creativity, quality, and long-standing customer relationships, all while staying at the forefront of technology and design.

Fine Jewellery exports more than served more than 300000 jewellery pieces each year, is a preferred vendor to some of the biggest brands across UK & Europe and has grown 2x in the last 3 years.

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Problem

The directors, Viral Kothari, Sohil Kothari, and Abhik Kothari, noticed that the managerial team was overly focused on day-to-day operations, losing sight of strategic and developmental projects. They wanted to establish clear departmental goals to provide direction and alignment across the organization.


How we helped a thriving Jewellery Manufacturing & Export Business define its Core Purpose, BHAG & Vivid Statements

Project Timeline

September 2024 – December 2024

Project Title

How we helped a thriving Jewellery Manufacturing & Export Business define its Core Purpose, BHAG & Vivid Statements

Approach and Findings

Identifying the problem

Through discussions with team heads, we identified bottlenecks in functions like sales, product design, HR, production, procurement, and IT. Annual goal setting was centered around a company revenue target, with other teams aligning their plans reactively to it.

Challenges observed

The teams lacked clarity on the company's direction and vision. While they aspired for their departments to match industry benchmarks, they were unsure if these ambitions aligned with the company’s overarching goals.

Roadmap Planning

We proposed a structured two-day workshop to guide the leadership team in defining their core purpose, BHAG (Big Hairy Audacious Goal), and Vivid Descriptions using Jim Collins' methodology. A similar exercise was planned for team heads to establish departmental alignment. The process was designed to challenge conventional thinking through critical, probing questions, ensuring comprehensive and actionable outcomes.

Work Done

We delivered the following during the project.

  • 1. Identified and articulated core purpose into a unified Core Purpose Statement reflecting the company’s ethos over the years.
  • 2. Guided the leadership team in formulating a BHAG that was ambitious, challenging, and exciting.
  • 3. Developed Vivid Descriptions, smaller actionable goals to achieve the BHAG within the next three years.
  • 4. Conducted a Hedgehog Concept exercise to align on key priorities—what the company should start or stop doing.
  • 5. Facilitated a presentation by management to stakeholders, sharing the Core Purpose, BHAG, and Vivid Descriptions.
  • 6. Enabled team heads to create departmental BHAGs and Vivid Statements, along with mechanisms to track progress and identify strategic initiatives for achieving these goals.
  • 7. Organized a three-day leadership retreat with introspective exercises, team-building activities, strategic planning, and sharing of three-year plans.
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Outcome

Fine Jewellery's leadership and stakeholders now have a clear understanding of the company’s Core Purpose, BHAG, and Vivid Statements. Departments have well-defined goals, scorecards, and strategic initiatives that align with the company’s vision. This alignment has reduced decision-making bottlenecks, improved cross-functional collaboration, and positioned the organization to build a robust foundation for future growth.

Frameworks used in the project

Objective and Value Setting Framework

  • Vision and Values
  • Business Strategy
  • Annual & Strategic Plans
  • Value Setting & Communication
  • Testimonial

    Debox has been working with us at Fine Jewellery for close to an year now. They are a young business consulting firm (much more than just an HR consulting firm) who have helped us in various areas such as process improvements, digitization, Visioning excercise etc. I believe all businesses can engage with them and they can add value to all businesses to varying extent. Our overall experience with them has been very good.
    Jignesh Hemani Reviewing Debox
    Jignesh Hemani
    Chief Financial Officer

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