Sickness in Indian Industries
Abstract
The industrial sector constitutes an important segment of the economy. The economic growth of the country depends upon the profitability and financial soundness of this sector. The industrial sickness has been afflicting the health of the units of all types,sizes and in all regions. A company may be at any of the three stages of sickness. There may be companies which are born sick, some achieve sickness due to internal causes, and on some other sickness is thrusting upon due to external causes. It is generally the internal causes which are major causes of sickness as the external causes of sickness affect the industry uniformly. There are well managed companies which survive from the onslaught of the storm and sail through, but a poorly managed company becomes terminally sick during the adverse circumstances.The internal causes may be due to poor project management, poor quality of management, weak financial policies etc. Consequences of Industrial sickness etc. Consequences of industrial sickness are setback to employment prospects, strained industrial relations, wastages of resources and losses to all the stakeholders and even government revenue. Organizational inertia holds the management from changing the strategy.
Authors
JR Dikshit, Prof PC Basak, Dr Kamal Vagrecha