Managing Industrial Sickness
In addition to unbearable financial loss, sick, weak ad loss making industries have also resulted in human suffering, unemployment and loss of time and energy. Why are we promoting a sick industry? If the project was approved and financial assistance given after ensuring 100% economic viability, there is no reason why an industry should go sick. Similarly, if an economically viable project becomes sick, it must be either due to mismanagement or organisational failure. Again the question is; why such a project should turn sick if it is handled by trained and efficient management personnel and there is close monitoring by the concerned Agencies, Paradoxically, the magnitude of the problem and the rapid growth of sickness undermines our engineering ability, management expertise and efficient labour. Whether the professional management has failed to save these sick units? If so, we should put these units under ?hire and fire management? concept for rehabilitation and revival, which has been tried successfully in several sick units. It is definitely better than closing down in unit. Will it be possible to us to completely eliminate industrial sickness from out country? This book will help the readers to find an answer to this question.
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