Mid-day
Thursday, Oct 1, 1998
Riding The Recession
Balaji Rao, MD, Venky’s (India) Ltd.
‘Explore new markets to avoid a cutback in production’
Maintain and strengthen employee morale and confidence levels by stressing that recession is a global phenomenon and not an industry specific or organisation specific malady; that it is only a temporary phase and the industry will bounce back. When the going is tough, it is important to hold together and not fall apart
Take a closer look at organisational deficiencies , cut excess fat and wasteful or avoidable expenses.Simultaneously, introduce more cost-effective production, communication and funds management systems.
Explore new markets – particularly export markets – to avoid a cutback in production, even if exports result in a break even. Cutting back production could be viewed as a surrender to recessionary forces and may have a demoralising effect on the organisation.
Keep up a continuing dialogue with the government, policy-makers and opinion-makers to ensure a more industry friendly policy with regard to imports, exports, tariffs and taxation. The full potential of the poultry industry can be realised only when such enabling policies are made available; a period of recession is the right time to do so and this point needs to be emphasised