How we helped a thriving Jewellery Manufacturing & Export Business arrive at their Core Purpose, BHAG & Vivid Statements
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.
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.
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
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.
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.
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.
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
Testimonial
Jignesh Hemani
Chief Financial Officer
Check where your company stands
on our Culture & Sustainability Framework
Read Another Success Story.
Our Work
Consulting
About Us
Insights
Careers
Contact Us