|
|
'SMEs must adopt innovative, new technology for growth'
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 30 Sep, 2016
While addressing the Small and Medium Enterprises (SMEs) at a symposium in the national capital on Thursday CEO of NITI Aayog, Amitabh Kant has said that innovation and digitization are the new mantra of growth.
Small and Medium Enterprises (SMEs) occupy an important place in the economy of most countries. It is therefore imperative for them to address the uncertainty in their environment with the help of the workforce around them. The role of human resources in enhancing firm efficiency and effectiveness is well established.
According to the resource based view of management, irrespective of the firm size, employees are a strategically important, indispensable resource to achieving an organization's objective.
A five pronged strategy to strengthen people strategies in SMEs
Building Strategic Competencies which will help understand what know-hows are needed, available, and plan to close the gap Nurturing Leadership by encouraging leadership pipeline Developing change Culture which will internalize a shared vision, aligned with strategy Ensuring alignment of personal goals linked to organizational goals Learning/Knowledge: sharing of knowledge & experience needed by the strategy
Amitabh Kant, Chief Guest of the Symposium and CEO, NITI Aayog, in his inaugural address elucidated that the Government of India has taken many initiatives over the years to strengthen Indian Economy. There has been a tremendous positive impact on the various stakeholders who contribute towards strengthening the economy. While the ease of doing business mission of Government has created a competitive spirit within not only the Indian States but also has generated encouraging sentiments for the global investors.
He reiterated on Unleashing Entrepreneurial spirit & remarkable break through in start ups, with young people who are making a change. Huge disruption is taking place within India as Going on beaten path will not help.
Innovation and Digitization as the new mantra.
Today the world is looking at India as the emerging manufacturing hub. This has gotten strengthened by the unique Make In India campaign which has enabled Indian companies to integrate with the global supply chain.
This initiative by Government of India has been built on layers of collaborative effort. The major objective behind this unique initiative is to focus upon the heavy industries and public enterprises while generating employment, empowering secondary and tertiary sectors and utilizing the human capital available in India.
In his key note address Subodh Bhargava Past President, CII & Chairman, Tata Communications Limited highlighted that hierarchical organizational models aren't just being turned upside down - they're being deconstructed from the inside out. Businesses are reinventing themselves to operate as networks of teams to keep pace with the challenges of a fluid, unpredictable world.
Hence the need to talk about Innovative People Strategies. Corporate India has started talking about their employees as Strategic Partners, need for leaders to create more leaders. SME's should be able to anticipate change, change themselves and implement organisational change.
B Santhanam, Past Chairman, CII Southern Region & President and Managing Director, Flat Glass – South Asia, Malaysia & Egypt, Saint-Gobain India Pvt Ltd, in his key note address opined that for organisational growth and also professional growth, it is important for HR to move away from conventional roles to take higher responsibilities and to become a strategic partner in business.
Some of the HR challenges of the Decade mentioned by Santhanam are Productive Workforce, Changing manufacturing eco-system and Digitization.
SMEs today face multitude of challenges that include but are not limited to Inconsistencies in the way in which business is conducted, challenges in attracting competent & dependable employees, dealing with a high employee turnover, challenges in mentoring and developing employees , maintaining pay equity amongst new and existing incumbents, dealing with changes in policies and establishing standard operating procedures, promoter mind-set, decision making driven by metrics and weaknesses in governance systems.
He reiterated the way forward for HR will be; Digitizing Productivity to create competitive workforce, Managing beyond Boundaries, Connecting with future workforce and lastly think and act Outside-In.
In times like these, the SMEs and promoters must use some of their strongest suits and traits - such as Ability to innovate, Ability to take risks, Ability to utilize their business acumen and react to changes rapidly, Drive, Passion, Commitment and Personalized style of functioning said Vijay Thadani, Chairman of the Symposium and Vice Chairman & Managing Director, NIIT limited
Pramod Bhasin- Founder – Genpact, emphasised that training and development is the key to developing new kills of the people for global success and enhancing the organizational share in the market. Industry, especially the SMEs mut invest in professionals to build their capabilities. Employees and employers must have strong trust and bonding to address each other’s concerns.
During the panel discussion on Strategic Workforce Choices for Enterprise Excellence, Shreekant Somany, Chairman, National SME Council, CII & Chairman & Managing Director, Somany Ceramics Ltd, stressed upon the fact that workforce planning provides managers with the means of identifying the competencies needed in the workforce, not only in the present but also in the future, and then selecting and developing that workforce.
Aligning with the above mentioned efforts, the Symposium strived to deliberate on new and innovative perspectives regarding the work force, the work space, talent development and incubating leaders for tomorrow.
The symposium witnessed insightful address by renowned thought leaders such as S Sandilya, Chairman, Eicher Limited, S Y Siddiqui, Chief Mentor, Maruti Suzuki India Ltd; Ratan Agarwal, Head HR, Hero MotoCorp Limited; Pankaj Dubey, Managing Director and Country Head, Polaris India; Rajiv Kapoor, Chairman HR & ER , Committee, CII NR & HR Director - India, G4S Corporate Services (India) Pvt. Ltd; Yuvraj Srivastava, Chief Human Resource Officer, Make My Trip; Charu Maini, Head HR, Pearson India; Kumara Guru D N V, Director - External Relations and Human Resources, Indian School of Business. The symposium was well attended by over 100 delegates from across the country.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|