Marico, a prominent FMCG company in India, unveils ‘The Marico Way’, a distinctive identity amalgamating purpose, ethos, and refreshed values. This strategic initiative underscores Marico’s commitment to challenging norms, adapting to change, and fostering an empowering environment for its members. The company, deeply rooted in values that resonate with stakeholders, recognises the evolving dynamics of the industry and the imperative to renew its framework for sustained growth. ‘The Marico Way’ not only propels Marico toward ambitious goals but also cultivates an inclusive, socially responsible, and forward-thinking organisational culture.
Amit Prakash, CHRO at Marico Limited, elucidates the significance of ‘The Marico Way’ in shaping the company’s future. Built on core tenets such as trust, transparency, inclusion, integrity, and an owner’s mindset, Marico’s ‘People First ethos’ has been pivotal to its growth, even during challenging times. As Marico envisions the next phase of growth (Marico 3.0), the focus is on refreshing and reenergising the organisational culture, adapting to the evolving workforce’s needs, and preserving Marico’s uniqueness.
“The foundation of Marico has been shaped by our people, values and culture. Our ‘People First ethos’ built on the core tenets of trust, transparency, inclusion, integrity and owner’s mindset have been the pillars of our growth, even during unprecedented times. With changing times and dynamic business landscape, our values continued to evolve to help meet our business aspirations. As we embark on the next phase of growth and achieve our ambitious goals, we wanted to refresh and reenergise the culture that is critical to building Marico 3.0. The objective was simple – to adapt and evolve while preserving the essence of what makes Marico unique.”
Amit Prakash, CHRO, Marico
In an effort to ensure resonance with members and alignment with the organisational vision, Marico conducted extensive workshops involving over 150 participants from seven regions. ‘The Marico Way’ was crafted based on cultural experiences, needs, and aspirations, aiming to empower members and bridge the generational gap.
The refreshed values are designed to prepare Marico for the next phase of advancement, Marico 3.0. Curated to remain relevant across all units, these values serve as a gateway to align the company culture with the demands of the new-age workforce. Embracing the nuances of digital businesses like Beardo, Just Herbs, and True Elements, the revamped values also foster a culture of digital experimentation and adoption.
‘The Marico Way’ encapsulates Marico’s purpose, emphasising making a difference to all stakeholders, and ethos, focusing on elements like an Owner’s Mindset, Frugality, Transparency, Mutual Trust, Integrity, and Meritocracy. The refreshed values include a commitment to consumer delight, fostering bold ambition, enabling responsible growth, nurturing members’ potential, ensuring accountability for outcomes, and executing with agility.
In conclusion, ‘The Marico Way’ serves as a compass guiding Marico’s members to align their actions, decisions, and the organisational direction with a clear sense of purpose. As Marico navigates the intricacies of generational dynamics and envisions future growth, these refreshed values pave the way for a cohesive, innovative, and inclusive workplace.
