ZEE Entertainment Enterprises' MD & CEO, Punit Goenka, has proposed the implementation of a lean and streamlined management structure to the Board, in line with his strategic plan focused towards achieving the targeted goals for the Company.
In line with his overall strategic approach, the MD & CEO has initiated the process of rationalization of the workforce by 15%, that will prune the staff strength across the Company to arrive at a streamlined team that is sharply focused on the set goals for the future.
The proposed structure is aimed towards arriving at a cost-effective operational model with speed and agility as the core areas of focus. It will further enable the Company to chart higher growth by maintaining a keen eye on Performance and Profitability, thereby seamlessly executing its strategic priorities as required for a content creation company.
The proposed team structure will foster a more collaborative performance-oriented culture. In order to nurture and encourage the entrepreneurial spirit, which is an intrinsic part of ZEE's DNA, every team member of the lean structure will function as a partner and a co-owner of the Company.
In the lateral structure, the MD & CEO has also proposed the elevation of certain team members across businesses, in order to provide them higher level of responsibilities; besides him assuming direct charge of the critical business verticals leading to cross functional collaboration, quick decision making and higher productivity levels.
As the leading entertainment powerhouse with a strong pulse on the audiences' diverse entertainment needs, the core strength of the Company lies in content creation. In order to further strengthen the content creation capabilities, the lateral structure will focus on a more collaborative environment across the core business segments to leverage synergies in terms of creativity, technology and revenue generating opportunities.
The core business units of the proposed structure will include: Broadcast, Digital, Movies and Music.
Punit Goenka, MD & CEO, ZEE added, Building a simplified, lateral structure for the Company, will ensure that we maintain a sharp focus on Performance and Profitability as the key growth drivers, and the structure proposed to the Board is in line with this core thought. The streamlined team at ZEE will maintain a sharper focus on targeting higher levels of productivity to drive growth in order to generate value for all our stakeholders going forward. I look forward to the Board's guidance on this approach, enabling us to pursue our goals more effectively and take advantage of the opportunities before us."
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