As Da Vinci rightly said "All our knowledge has origins in perceptions", today, I perceive myself of being able to express my thoughts through this surprisingly beautiful medium. And as the journey of thousand miles has to begin with a single step, now is the time for that baby step to demarcate the beginning.
It was just recently that i took part in National Competition for Management Students-2010, organised by All India Management Association, held at Mumbai. It has been an overwhelming experience of sorts, that i could see so many brains cracking their heads over the same topic i.e. "Managing Organizational and Developmental Challenges In India". Now that the very mention of India evokes strong compassion , believe me that identifying challenges that she is facing today has not been a cake walk either.
With this, let me include a small abstract of some of the internal challenges that we identified and most of which i covered in the presentation, the rest of the parts were taken care by my colleague and teammate.
The Internal Challenges:
Attrition: Since most of the economies are out of recession, companies are on a hiring spree. This creates troughs with strong negative pressure which attracts hard working employees from the other organizations of similar motives. With this revival in the job market, corporate India is all set to witness a significant jump in the attrition levels. Though this is especially true of the Aviation, IT and BPO, rest of the India Inc. will not be spared as a lot is determined in India by the “Band Wagon Effect”. To an extent that people are often teased by their own peers for staying with one company for more than 3 years.
Managing attrition is therefore a huge challenge that requires analyzing the reasons for which people leave especially those gathered from past exit interviews. Knowing these should help formulate an actionable strategy to minimize attrition.
It was just recently that i took part in National Competition for Management Students-2010, organised by All India Management Association, held at Mumbai. It has been an overwhelming experience of sorts, that i could see so many brains cracking their heads over the same topic i.e. "Managing Organizational and Developmental Challenges In India". Now that the very mention of India evokes strong compassion , believe me that identifying challenges that she is facing today has not been a cake walk either.
With this, let me include a small abstract of some of the internal challenges that we identified and most of which i covered in the presentation, the rest of the parts were taken care by my colleague and teammate.
The Internal Challenges:
Attrition: Since most of the economies are out of recession, companies are on a hiring spree. This creates troughs with strong negative pressure which attracts hard working employees from the other organizations of similar motives. With this revival in the job market, corporate India is all set to witness a significant jump in the attrition levels. Though this is especially true of the Aviation, IT and BPO, rest of the India Inc. will not be spared as a lot is determined in India by the “Band Wagon Effect”. To an extent that people are often teased by their own peers for staying with one company for more than 3 years.
Managing attrition is therefore a huge challenge that requires analyzing the reasons for which people leave especially those gathered from past exit interviews. Knowing these should help formulate an actionable strategy to minimize attrition.
Accelerating the growth momentum: To increase the growth momentum and become an industry leader, companies can use Inorganic growth strategy to acquire or be a partner in rivals’ businesses. M&A activities have become very prominent in the world post recession. Tremendous vertical growth opportunities are sought by the visionary organizations in the wake of the dark hours of recession. This comes with existence of the distressed organizations which came out with SOS signals. Thus it is a challenge for companies to perform well to avoid being taken over by a stronger competitor. To go for organic growth, companies need to do expansion of existing facilities or diversification of product or services they offer.
The Rural India and Challenges there:
India Certainly lives in her villages, as rightly said by Mahatma Gandhi, the father of the nation. Though the state of affairs had been very different at that point of time, conditions have maintained status quo in terms of Development in the respective areas. We certainly cannot think of building a brand with pan India presence unless paying due credit to this sector of the economy.
The rural areas present significant opportunities in all sectors. The miraculous success story of India that has surprised the whole world is not driven by the entire population. A significant proportion of the population is still left to make an impact in the growth numbers that we have witnessed. The biggest challenge for India Inc. lies in realizing the necessity to include the entire population. This is the prima facie necessity for equitable distribution of both the resources and the fruits of the economy
With this we also came up with an amusing powerpoint presentation. I will try and upload the same as soon as possible.
I have uploaded my PPt to this link: http://www.slideshare.net/nkumar0605/siibindian-challenges?from=share_email
