A transformational leader drives innovation and inspires new ways of thinking, harnessing a team’s creativity to respond to change. The more you know about transformational leadership, the better prepared you’ll be to lead in today’s dynamic business environment.
Transformational leaders find motivation from within and use that as the driving force to manage the direction of the company effectively. The best natural form of motivation is to love what you do and ensure that your values are aligned with the organization you work with.
Being a visionary is about setting a realistic and concise company mission, vision, and values that fit the culture of your organization. Transformational leaders have the ability not only to effectively communicate the vision but also to get every person to buy in and work toward that vision by communicating with passion and clearly emphasizing the direction they want the company to pursue. These traits spotlighted the CEO of the Sharda Group of Companies, Dr Amit Lath.
Under his proficient leadership, the organization aims to serve its clientele with excellence, honestly and ethically provide high-quality professional real estate services, keeping the customer’s best interests in mind.
In an interview with CIOLook, Dr Lath shares valuable facts highlighting his professional tenure and his journey in the dynamic business arena.
Brief our audience about your journey as a business leader until your current position at Sharda Group of Companies. What challenges have you had to overcome to reach where you are today?
My journey started when I took the first risk into this industry, and today Sharda group has grown to great heights in recent years only in the European markets but also in other international markets.
There are many challenges that I have overcome to achieve success; however, again, my major challenge even today is the risk I take.
Tell us something more about your company and its mission and vision. What are the qualities and aspects that make it stand out as a leading company in providing reliable construction and development solutions?
The Mission of Sharda Group, Inc. is very simple, “Our goal is to serve our clientele with excellence, honestly and ethically provide high-quality professional real estate services, keeping in mind our customer’s best interest in mind.
Through our Vision, we strive to maintain a global standard for quality and customer satisfaction. Hence, what makes Sharda Group stand out in the Construction and Development Industry is our Quality of service and delivery according to customer satisfaction keeping in mind the Budget and Timeframe.
Enlighten us on how you have been transforming the construction and development niche through your expertise in the market.
There is a lot of competition in the construction and development business. Still, we have made a niche in the market as our staff always keeps a priority on maintaining quality check and control in providing excellent and exceptional architectural structures, which has been our key pillar in delivering the best to our clients, keeping in mind the budget and timeframe.
Our company strictly adheres to honesty and integrity in establishing trust with our clients, leading to a long-term relationship.
Describe in detail the values and the work culture that drives your organization.
At Sharda Group, we focus a lot on work culture ethics as we strongly believe that employees play a major role in the organization’s growth, just mentioning a few of our values and work culture.
Trust and Integrity: – Integrity at work is about more than honesty and respect. As our organization has a true culture of integrity, and our employees take their commitments seriously, are proactive when they don’t understand their responsibilities, and ultimately, are accountable for their results. As a result, the business succeeds.
Vision Statement: – Our Company’s vision and values are not only for the senior leaders but for all the employees. One primary reason some employers struggle with creating a good culture is that they never talk about their vision and values with all the employees.
At Sharda Group, the “vision statement” is positioned on a sign board; however, our vision and values are not just displayed but also spoken and discussed. When our employees start discussing, that’s when they start living with the vision and values, and we start seeing our employees bring in the best efforts for the organization.
Innovation: – Innovation and new ideas are completely upheld and encouraged across all verticals in our organization. Employees work on an approach to pursuing resolutions to challenges and finding new projections.
If we observe minutely, organizations flourish by implementing this type of culture and involving all the employees in the innovation process rather than just the R & D departments or board members. Productivity and employee well-being are always enhanced. If your business culture is positive, you should be able to measure a few results, such as:
Rewards and Recognition
Reward and recognition can range from praising an employee for resolving an angry customer’s query to innovating a solution in the construction field. Often, appreciation is sent to the owner or some other senior leader, but at Sharda Groups, we make it a point to pass the appreciation on to the workers. This reinforces their efforts and conduct, which make a positive difference with the customers who are paying for our success. Finally, R&R contributes to our organisation’s success.
These workforce values and culture also have other indirect benefits on our organization that we might not observe like, Absenteeism and late-arrivals are lower, Customer and employee complaints are lower, Customer and employee retention are higher and majorly profitable, and on-time-completion are higher.
We also have a compiled and comprehensive set of facts, rules, and requirements, making the process of buying a property easier for our ever-growing NRI customer base.
Undeniably, technology is playing a significant role in almost every sector. How are you leveraging technological advancements to make your solutions resourceful?
Indeed, technology is playing a pivotal role in almost every sector, so the construction business is also a part of it. Leveraging technology in businesses saves a lot of time so that SMBs can focus on other essential areas to grow their business. Innovation in the modern-day world is directly or indirectly related to technology, and SMBs can survive in the market with innovation.
AI in construction has the potential to help players realize value throughout project life cycles, including design, bidding, and financing; procurement and construction; operations and asset management; and business model transformation. AI in construction helps the industry, as a whole, overcome some of its toughest challenges, including safety concerns, labor shortages, and cost and schedule overruns.
AI has turned out to be an essential part of our lives in some way or another; mentioning below some points which are a part of the business: –
- Costing and Budgeting of a Project
- Project planning
- Data Source
- Building Information Modeling (BIM) and designing software
- 3D Printing
- Productivity and risk reduction
- Drones and Robots
- Post-constructive Management
Technology helps increase the efficiency of systems, products, and services. It helps in tracking and streaming the processes, maintaining data flow, and managing contacts and employee records. In fact, this increased efficiency in operation helps reduce costs as well as enables the business to grow rapidly.
What, according to you, could be the next significant change in your sector? How is your company preparing to be a part of that change?
We are already witnessing a hugely significant change in the construction and Development Industry, however in my opinion, below are the pointers which are going to majorly take over the industry: –
- Digital collaboration software is going to shrink the distance even if it’s going to be miles apart, which will permit teams to stay connected despite the remoteness.
- 3D printing is one of the greatest technological advances and innovations of the 21st century. The use of 3D construction printing has been growing rapidly in the last five years, not only in terms of buildings made but also with respect to the type of building or structure being made. 3D printing has the advantage of faster access to tools and equipment.
- Robots and machines that can work on repetitive and menial tasks.
- Droves are mainly used in the construction industry for surveying and inspection purposes. Drones are equipped with downward-facing sensors, such as RGB, multispectral, thermal, or LIDAR, and they can capture a great deal of aerial data in a short time.
Where do you envision yourself to be in the long run, and what are your future goals for Sharda Group of Companies?
My goals for Sharda Group of Companies will always remain the same, present or future; I will always want to ensure that my Clients and Employees are satisfied.
What would be your advice to budding entrepreneurs who aspire to venture into the construction and development sector?
My advice to budding enterprisers who want to venture into the construction and development sector is as follows: –
- Take Risk: Many aspiring entrepreneurs have put in a lot of time and effort researching their great idea, but they are terrified of going into business. My advice to them is to take the risk and go for the leap towards executing the idea. The idea will just die if the risk is not taken.
- The aspirants need to prepare a proper Business Plan: This section should contain details of things such as the goals and target audience. Detailed information about the products and services that will be offered to the customers. It is also important to write the SWOT Analysis in the Business Plan as it will help in building the business because it’s important to know our Strengths and Weaknesses.
- Need to fixate on a good cash flow: As the business starts scaling, it will be very important to focus on your gross margin for each individual project. The success of the projects will depend on it. The most important way to measure the cash flow is by understanding a work-in-progress (WIP) report. It is vital that the bookkeeper maintains this report. A WIP report depicts the active projects executing the funds that have been debited versus the funds that have been credited, which will result in the gross profit margin. This will indicate the health of any company’s cash flow.
- Be Resourceful: – In every Industry it is stated that, Time is Money. In Our industry, time is money. Hence, young entrepreneurs must learn how to use all available resources and enhance their cash flow.
- Always be ready to accept changes: – When people get into a comfort zone in their personal life or any business, they don’t like change. However, this is not the right mindset, and it impedes accepting changes, as accepting changes can open the horizon of opportunity.