Manufacturing sector’s Powers & Capabilities on Test-bed (India centric) !
Today’s slowdown in our economy has compelled the industry (specially the manufacturing sector) to strive hard to sustain growth prospects with minimum disruption. Broadly the twin challenges are : (a) alleviation of sufferings people; (b) enhancement of prosperity to all communities of our society. I present below a snapshot of the challenge with a ‘novel methodology’ to adopt for realizing the objectives.
Simply for the general weal, industry needs to accelerate the following obvious measures first : “Reduce cost; Improve productivity; Enhance operational efficiencies; and maintain what I term and often fascinatingly call ( since the late eighties in all my tutorial discourses ) ‘PSYCHOLOGICAL QUIETUDE’ amidst growing tensions of uncertainty.” What is more, I also see the “REPUTATION” of any organization holding the key to solving many of the problems they face today, more than ever before.
To meet the challenges effectively & positively, management strategies need to be redesigned with a flavor of sophistication and high internal & external coordination. It is in this context I present this novel technique for consideration by all players. ‘Analysis of failure Effects’ and ‘Event Impact’ as the key management technique. It will help to create a set of strategies for different outcomes arising out of preliminary applications. The process involves eliciting responses to simple questions as “What if .. ..?” If the answer is ‘yes’ , the investigator will ponder over details; and if the answer is ‘no’ he will pass on to the next item on the agenda. Consider the example of an internal supplier of an auto manufacturer exposed to industrial, organizational, and government customers. Directions of Credit; market share; new product development; tax rates; government stimulus funding & prices are some key parameters in this exercise. One can start applying the question ‘ What if market share falls ?’ and elicit the answer from data available or directly from the chief handling the function. The entire procedure is not detailed in this brief outline here. The technique, however, is beneficial.
While the application in normal circumstances is relatively foolproof, it calls for a high degree of circumspection and analysis in the prevailing uncertain environment. Also, there is a need for marked depth in information gathering since exploration possibilities becomes complex in the present volatile/uncertain situation. Being focused on the long-term impact without sacrificing short-term interests is a balancing act critical to fruitful evaluation. While the Failure Effects Analysis can clearly point to the key indicators suggesting the alternatives, the Events Impact Analysis will permit the assessment of impact in larger terms. The ultimate result will be the satisfaction of designing a set of tools to withstand the crisis rather than merely attempting to predict it. Setting apart the progressive companies from the less progressive ones, it is imperative to maintain “REPUTATION” of organizations. This is quite significant, particularly when regulators; stakeholders; & more importantly the public exercise greater scrutiny of organizations now. Customers’ “trust” manifests itself in the form of reputation driving the success and profitability of any business.
Unsealing the results of investigations through an effective and responsible media will ensure an extended reach reliable to the public without any skewed tilt to the findings. The result will be trust build-up and self confidence with more than proportionate growth of business and the economy as a whole. “PSYCHOLOGICAL QUIETUDE” with no tension(s) , conflict, or apprehensions will be a big positive among the employees giving a boost to the levels of motivation and initiative.
There are certain essentials needed to integrate various components in this design scenario presented here. I will try to set these out separately in due course of time.
” Dieu avec nous “
Tuesday, November 12, 2013 – 10.50 p.m. (IST)
Tidbit : I learnt from my experience that It is easier to go from economy to extravagance, It is hard to go from extravagance to economy.