INDIA GROWTH FAILURE SOLUTIONS-ICSI

Core reasons for failure :

Leadership

Lack of vision and strategic thinking

Failure to ignite passion

Financial mismanagement

High debt leverage

Not in sync with technology and times

Additinal causes for failures:

Competition and efficiency and productivity

Bureaucracy

Lack of focus

Failure to build talent

Love with legacies

Paralysis in decision making

Key Findings Are :

Lack of profit orientation

Insufficient focus on customer

Poor decision making

Serious language problems

Too many unviable outlets

Lack of succession planning & progression management

Solutions sought are :

Three Years turnaround program

Aligning final reporting to international regulatory standards

Financial controls

Introduction of SAP

Cross functional teams

Suppliers reduced and rationalised

Closure of plants

Closure of overlapping outlets

Rationalisation of the costs of purchase

Introduction of English language across all locations

ALLIANCE SHOULD BE ' TO '

Improve Quality

Reduce costs

Internationalize

Reduce debts

Common objectives could be :

Economies of scale

Technological knowhow

Leadership in quality

Attractiveness of products and services