Hyderabad, 12th February 2019: Institute of Management Technology, Hyderabad welcomed Mr Ramam Atmakuri, Executive Vice – Chairman, L V Prasad Eye Institute (LVPEI) to deliver an experience sharing session on “Sustainable Service Model – Story of LVPEI”. The Leadership Series provides the management graduates an opportunity to understand the real-life practices in the corporate world.
Ramam Atmakuri is a Post Graduate in Applied Statistics, qualified Project Management Professional (PMP), Certified Quality Analyst, and a Graduate Diploma holder in Operations Research. He was a Management Trainee himself, in Indian public sector steel company, Steel Authority of India Limited (SAIL), and worked for three decades in IT and manufacturing industries. Not only this, he was also honoured with the “Outstanding Service to the IT Industry” award by HYSEA.
With a track record of building and maturing product development centres in India, he shared his tremendous knowledge and his story of working in LVPEI. He brought his old experience from corporate and service sector. Explaining the problem that they are trying to solve, he discussed the role of Social Entrepreneurship.
“Because they are poor, we should not treat them poorly. So that everyone can realize their full potential.”
These words explained that the return on investment (ROI) in social sector is different. It is based on the impact on the people’s life. They work in Clinical care, Eye banking, Education, Capacity building, Research, Product development, Vision Rehabilitation, and Innovation. He explained how they achieved their targets with limited resources, without compromising on quality. Sustainability in their company is due to excellent cost recovery, no loans or overdraft, fair endowment, high retention of people, culture and values, systems and processes. Their eye health pyramid focuses on the primary, secondary, tertiary, and advanced tertiary sectors. It is based on 4As- Appropriate, Available, Affordable and Accessible. Their pricing model- Non-paying and Paying includes regular, supporters and sight savers. They generate revenue mainly through patient care, optical sales, grants, donations, royalties and others. The company aims to be 100% self-sufficient by 19-20.
Through their innovative HRM model, they have trained-in-house employees. Technology apps across LVPEI results in connecting door step to boardroom. They have come up with remote community screening as one of their innovative solutions. They have tied up with MIT US to come up with a solution, the model which initially costed around three lakhs rupees, was reduced to only sixty rupees due to LVPEI’s innovation. This is called the Folding Fhoropter in community screening which was validated on over three thousand users and gave them the gift of sight.
It is the second most innovative product globally and is a convergence of nature, art and science. LVPEI has an ambition to reach the world. Concluding the discussion, Mr Atmakuri explained his learnings in his journey. He understood that strong leadership is invaluable. Optimum utilization of resources is a way of life, for which there could not be a better teacher than a social entrepreneurship business. Technology is enabler for scale and needs to be adapted for growth. His learnings also included continuous education that paves excellence and empowers everyone. They believe in sustainability without neglecting the most neglected and growth without compromising standards and values.
The company follows 3Ts- time, treasure and talent of its employees, which works more as a voluntary experience giving their heart and soul to the company. The experience of Mr Atmakuri proved valuable for the students and helped them gain information in the social service sector.