Wednesday, January 07, 2009

On Why PSU’s Wont Perform

This is with due respect to the Navratna’s and the other healthy PSU’s. But still things move with disgusting drudging ness even at these places. Especially when you move to the fringes of the city the offices are just like you could have expected them to be at the time of British Raj in the Eighteenth Century.

Forlorn looks and dark alleys. Old faces with people hardly visible. Rural markets are now emerging as getting the lion’s share of market share of a company in various verticals. So is this the time to overhaul the offices of PSU’s in tier II and tier III cities now.

Also what about the mindset of the officers and workers which spell doom for these companies. With assured pays these officers are at their inefficient best with all the bag , baggage and unlearnings of a Graduating College which teaches no professionalism which may be elicited even by a Distance MBA student.

So I thought about it and came up with at least two recommendations to the powers at the helm of India, to create profit center oriented culture at these non – motivated unprofessional workforce.

1. Have a performance oriented bonus and a variable pay package
2. Have regional and national performance competitions highlighting and awarding and rewarding the winners in Company website and Annual Function and Reports
3. Send the key officers to Executive MBA programs which are only one year and also available part time.
4. If point 3 is not possible then conduct seminars by industry experts so that they can gain the expertise to propel PSU’s to be able to compete with the professional private ENTERPRISES.( Indicating Entrepreneurism ).

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