At present, many Industries are facing the problem of low production due to power shortage, labour unrest, employee migration, NPA classification by the Banks.
Also at present, the entrepreneur has to face many challenges everyday, every time day in day out in terms of money, time, material, managerial, marketing in addition to manufacturing his own area of expertness. Many of the entrepreneurs feel money is the solution to many challenges. But in fact, money is the problem but not the solution. The probable solution may be MANAGEMENT. The primary aim of quality management is to PREPAREDNESS to face any consequences. The challenging management predicts every odds. Some time the entrepreneur may not be in a position to attend the challenges in time due to time, finance, personal commitments. No entrepreneur wants their organization should face problems and his main aim will be supply quality product on time. Some challenges cannot be postponed and some can be postponed and without effecting the quality and involvement of cost.
INTELLIGENT LEARNS FROM OTHERS’ EXPERIENCES
INNOCENT LEARNS FROM HIS OWN EXPERIENCES
IDIOT WILL NOT LEARN FROM ANY EXPERIENCES.
Many entrepreneurs feel that they only feel that they only has to solve these challenges. But the reality is the challenges’ seriousness can be reduced if shared, delegated to experts, professionals, employees, managers. Some times it may not be viable financially to own the said professionals. Under such circumstances, one can enter into agreement with professionals, managers, consultants on hire basis. The charges can be on lump sum basis or on result basis. Some of the professionals may be willing to accept the assignment based on the result basis like profit sharing only with existing administration until the performance level increases.
GOOD HEALTH AND GOOD WEALTH NEEDS DISCIPLINE.
STRONG DEVELOPMENT IS POSSIBLE ONLY WITH DISCIPLINE.
DISCIPLINE MEANS SACRIFICE TO SOME EXTENT.
The challenges can be divided in to number of branches one which has to be solved by the entrepreneurs only and which can be solved by others through the process of delegation, making them accountable. Some challenges which cannot be delegated and handled by the entrepreneur himself can be like technical expertness, confidential, policy making, production planning, and performance with regarding time, quality, quantity, market requirement and market satisfaction. The other challenges which can be delegated, made public like Material management, purchases, supplies, payment schedules, collections, The other challenges can be delegated to professionals like legal issues, taxation issues, accounting issues, Hence, there is need of own talent, administrators, planners, consultants, performers, professionals. Own talent challenges has to be handled by the entrepreneur himself and cannot be replaced, compromised, the administration challenges can be delegated to managers, staff, outsourcing. Every time the entrepreneur has to make policy planning, business plan and assure that performance has to be according to the business plan. The challenges of planning, performance on basis of policy can be delegated to mentors. These consultants can be employed or hired. Their role should depend on gap between planning and performance. The professional challenges can be delegated by appointing, hiring the efficient professionals without compromising for quality, timely delivery of service. If the consultant is associated right from the beginning it is more welcome, at least at the time of going for first loan. They are in the process of planning and outsider as far as performance is concerned. One can ask a question when we can hire if there is need or problem. Here the consultants will see that there is no problem. Such consultants can be hired on the basis of profit sharing which will make him responsible and accountable along with the entrepreneur.
What the consultants will have:
1. to guide business plan,
2. to guide finance planning,
3. to advise in reducing the gap between the planning and performance.
4. to advice preparedness to face unforeseen consequences.
5. to guide to reduce the litigations with regarding labour, recovery, infrastructure, commitments and compliances of various laws
6. to prescribe standards of performance, quality, quantity etc., at all levels.
7. to reduce the asset management cost by asset re-organisation.
8 to advise to reduce financial costs like interest by shifting the borrowing plans, short term, long term, temporary, interest free, credit purchases,
9. to prescribe performance standards to reduce various costs at factory level,
10. to negotiate with the financial institutions to get better finance options,
11. to interact with the Govt. and authorities to get right, eligible assistance, help.
FIRST SPOT THE WRONG AREA,
STOP THE LEAKEAGE,
PUSH THE RIGHT PERFORMANCE.
We have tried to identify some of the challenges being faced by the entrepreneur. These challenges can be addressed by the entrepreneur himself or can be addressed with the help of consultants, it depends upon the nature, timing of the situation.
