Big is Better
Contributed by Mr.Vikram Hoon, Knowledge Mentor
Big is better --- and safer. Conventional wisdom tells us so. It follows that building a career in a big setup is better --- and safer. Therefore, we saw the initial rush of job seekers towards the government and its agencies and undertakings. The limitations there diverted them towards the large enterprises in the private sector. The only alternative to these were petty businesses --- largely shops and trading, with some petty assembly and intermediate processing thrown in.
Small scale industry was given some space in the overall scheme for industrialization and economic development. But the fetters placed upon it ensured that it never grew in scale, size or technology or in adopting modern management principles and processes. Consequently, employment in this sector remained unattractive, both qualitatively and quantitatively.
HR Determinants of Organizational Success amongst Small & Medium Enterprises in Indian Automobile Sector
Abstract:
Small and Medium Enterprises (SMEs) in the auto sector have emerged in response to growing off-shore requirements of auto industry. The growth has been so rapid that it has remained elusive to researchers and the present study is an attempt to bridge this knowledge gap.
Three scales (Engaging Leadership both from the perspectives of the leaders and the subordinates and Employee Engagement) were developed by the researchers for the purpose of the study. Two existing scales viz., Cultural Intelligence and Positive & Negative Affectivity were also used in the study. The results show statistically significant results between professionals of high performing and low performing SMEs on Engaging Leadership, Employee Engagement, Cultural Intelligence and Positivity and Negativity.
Tackling Retail Training Challenges of Oil Companies in India
Oil marketing companies in India operate in a complex business environment. They have to distribute their products using multiple channels, each with its own pecularities. Oil companies in recent part have geared up to take on competitive pressure and retail training has to play a key role in this transformation.
Reducing Attrition Rate from "80 to 20"
Human Resource has always been a concern among retailers. Whether it is finding the right person for the job or be it retaining their workforce, retailers have always searched for right solutions to tackle this problem. Managing the workforce is still largely an ignored area.
The attrition rates are soaring and retail is also not untouched by this phenomenon. Some of the factors cited are:
New Ways of Hiring - Solutions for the MSME Sector
- Contributed by Akash Kumar
A recent study done by Milagrow found that one of the major problems faced by SME is managing human capital. Recently, I was having a discussion with one SME. He told me that his company is doing well, his product quality is superior to other MNC’s product, he pays good salaries to his employees even though he is not able to recruit and retain good people in his organization. I went in to depth and found that employee always want to be on safer side. Therefore, they prefer to work the companies which are well established and having sustainability in market. Thus, reaching out to good, loyal and efficient employee remains big task for any SMEs.
My First Day as an Entrepreneur...
- By e-mail from Veera Mavalwala
Ethics for SMEs
-Contributed by Kanak Dutta, Knowledge Buddy
Business ethics set the standard for how your business is conducted. They define the value system of how you operate in the marketplace and within your business. With legal scandals concerning insider trading and employee theft making the news, it is no wonder that businesses are increasingly giving attention to the ethical basis of their business and how to lead in an ethical way. While the examples above seem to be clear-cut breaches of ethics, many ethical dilemmas that are not so clear-cut are faced on a daily basis in business. In fact, there may not even be a “right” or “wrong” answer to the dilemma, but how you deal with it will says much about you and your business.
These decisions are often referred to as being in the “gray” area. They are not black-or-white, but could be argued appropriately either way.
Importance of Business Ethics in your company
Internal Maintenance Contracts - A Best Practice?
-Contributed by Sarath Srinivasan
Recently I visited the facilities of a 'service' retail outlet in a small town in Nagpur. The interesting aspect was that the owner of this enterprise had trained his employees to perform maintenance on the equipment. The innovation from his side was that he had done with by awarding maintenance contracts to individuals within his organisation. So if there were 4-5 machines to be maintained in a shop, each had a maintenance contract which was given to a person working at the shop. This person was then trained to perform the job. By providing a monetary incentive for maintenance in the form of a service contract he was able to ensure that his equipment was taken care of. This would also ensure that preventative maintenance is undertaken on a regular basis. Esepcially if the maintenance contract is on a fixed fee basis, it make so much more sense for the person to maintain the equipment and ensure no failures rather than spend inordinate amount of time trying to repair failed equipment under time pressures.
The Milagrow Values
-Contributed by Team Milagrow, Compiled by Sarath Srinivasan, Knowledge Guide
When the entire Milagrow team got together in July 08 to define the Vision of the company we also listed what we believed were the values and culture that bound us together.
Our Values
- Ethics – Integrity, Honesty and Transparency in what we do
- Trust – Believe in People
- Respect – For all Stake Holders
- Commitment – Own everything we do
Our Culture
