Location: Plainsboro, NJ
Industry: Technology, professional services
President and CEO
Lorven Technologies, Inc. is an IT consulting firm focusing on Big Data, digital transformation, artificial intelligence and machine-learning capabilities. To fuel its growth, the company plans to a fault, says president and CEO Bala Shan: “My partners and I debate till we convince ourselves of our plan; till we digest, live and breathe the plan. We put our trust in the plan and follow it like the divine guidance it is.” Lorven’s leadership next makes sure the right strategies are in place to execute the plan. “Key to ensuring execution is staying on top of results. We develop key performance indicators that can be measured and monitored on an ongoing basis,” says Shan.
Quick Tip: “Not only are the best leaders confident, but their confidence is contagious. Employees are drawn to them, seek their advice and feel more confident.”
In leading Lorven, Shan has learned to focus both on customers and employees. “We invest in our people by training them and helping them succeed,” he says. At the same time, the company puts a lot of focus on customer engagement. “Our service framework is built around a customer’s specific need,” says Shan. As part of its customer focus, Lorven is also focused on adding value. “We urge ourselves to think about what is most valuable to the customer — as opposed to our company — because we know that if we consistently add value to our customers, our value will increase automatically,” says Shan.