Bharat Heavy Electricals has declared 2020 as 'The Year of Transformation' with the objective of putting the company on the
path to becoming a Future-Ready Global Engineering Organisation. Towards this end, it has kicked off a multi-dimensional transformational strategy to address the multiple business challenges it currently faces - including decline in its traditional market for thermal power equipment, disruptive technology developments and increasingly stringent customer requirements. With this, the company aims to turn the current challenges into opportunities for the future.
These initiatives are being coordinated and monitored through a 'Transformation Office' set up at the corporate headquarters. As part of the transformation strategy, the company has taken up the task of reviewing and revamping processes, redesigning business models, expanding into new markets/businesses and developing a committed workforce with a strong leadership pipeline at all levels. Specific strategic initiatives focus on Quality, Project Execution, Cost Reduction, Diversification, Digital Enablement, Technology upgradation.
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