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Dabur, a major fast-moving consumer goods (FMCG) company, has announced a change to its strategic planning cycle. Historically, Dabur planned its strategies four years in advance, but with the current challenging market conditions, the company is now reducing its cycle period to three years to become more agile. This adjustment is intended to help Dabur adapt more quickly to shifting market dynamics and geopolitical volatility.
To support this effort, McKinsey & Company has been brought on board to refine Dabur’s strategies for the next three years. The goal is to ensure a sharper focus on emerging opportunities and to identify ways to seize these opportunities more effectively. The seventh iteration of Dabur’s vision exercise has already begun and will conclude by the end of the current fiscal year.
This exercise involves a thorough review of the company’s categories and business strategies, including those for products such as Chyawanprash and beverages. The feedback from this process will also play a critical role in informing the company’s budgeting process for the following year. Strategic debates will be used to challenge current business operations and refine them in response to new insights and learnings.
Dabur’s decision to revisit its strategic vision cycle is driven by the rapidly changing landscape in the FMCG industry, including shifting consumer preferences, intensifying competition, and increasing market fragmentation. By re-evaluating its strategies more frequently, the company aims to stay ahead of the curve, capitalize on emerging trends, and maintain its competitiveness in the marketplace.