Kaleidoscope -Leaders' Views

What were thoughts and philosophies for starting your business?

As it is first generation startup, not thought much, but there was urge in starting own business.

To what extent you feel having fulfilled your objectives today?

We are happy with the achievements so far. However, we still continue our efforts for continuous developments.

What according to you are your positive points towards growth and sustenance of your business?

a. Positive Thinking
b. Hard Work
c. Domain Knowledge
d. “Customer first “approach
e. Support from family
f. Good health
g. Healthy lifestyle
h. Acceptance of mistakes and limitations
i. Group synergy
j. Adapting good business practice and ethics

What are your considerations/ideas when you develop and introduce any new product or concept?

a. Need of market
b. Available technology
c. Price Competence
d. Available machines and manpower
e. Is it supportive to our core business
f. Value addition

Do you have any of the below stakeholders associated with you for a longer period? (Please mention their approx. Number)

Customers: with you
(a) for more than 10 years: Many
(b) For more than 25 years: Few
Suppliers: with you
(a) for more than 10 years: Many
(b) For more than 25 years: Few
We have a very large customer base. Counting exact numbers is difficult.
Employees: with you
(a) for more than 10 years: 15,
(b) for more than 25 years: 3

Do you have any Green Channel Supplier (how many?)

We believe in long term and transparent business. Suppliers are our channel partners and one of the major stake holders. We work jointly with them to ensure quality supply of material. With our joint efforts, Majority of our suppliers have a consistent and improved quality supply of our raw materials. Hence most of our suppliers are our green channel one.

Are you a Green Channel Supplier to any customers: (to how many?)

Our supply scope includes (a) Standard products, and (b) Projects. For standard products, we area Green Channel Supplier to almost every regular customer.

What are your growth/expansion plans for next 5 years?

a. Increase product line
b. Increase market share
c. Offer export worthy product

How do you foresee growth of your industry in next 5 years (a) in the country, and (b) internationally

Present scenario is unpredictable but we are hopeful and optimistic that the situation will always show improvements.

What kind of bottlenecks you anticipate in your growth plans for next 5 years, and how you plan to counter them?

a. Fast change in technology: With the pace, new technology is evolving, it is making existing products obsolete very fast. Its a challenge to keep pace with the world, and we are struggling to maintain our place.
b. Different distribution channel: Supply chain structure is changing. As against the contemporary dealer-distributor channels or direct supply, now online sales channels are getting established and they are changing the present style of logistics. (as most products will be available on Amazon now! )

In present business practices, do you experience problems like:-

a) Unusual credits expectations by customers, Yes
b) Payment delays, non-payments, bad debts, Yes
c) Statutory & regulatory exploitations, Yes
d) Harassments from some specific sectors, No
e) Effects of Government policies(lack of policies/inadequate policies/negative policies)-Yes
f) Effects of International happenings Yes
g) Effects of changed climatic conditions No
h) Any other:
You may like to list these in points. (Both national and international): NA

As a progressive and prominent businessman, would you have any suggestions for removing these hurdles?

- Government should adopt more transparent policies
- There should be uniform tax structure
- Government should support Indian manufacturing industries by creating tax free zones

National/local competition is mostly from business units that come up by copying a leading brand with less features, less quality and less price. Do you have experience of it?

Frankly, we started with product which was import substitute. However our present approach is to offer better product than imported one with less price.

How you see the onslaught of international competition in your business segments?

Due to globalisation, entire world has become a common market place. We therefore meet competition which is of high quality-high price and also of low quality-low price. Mainly for low cost, low quality product from local suppliers as well as China. Most European-US suppliers are in high price-good quality zone, and we are able to face them successfully.

What are your suggestions and plans for countering such competition – both national and international?

We are increasing our production base, to quicken delivery periods. We are also taking absolute care on quality, and also have sharpened our marketing activity. We source some components locally from reliable suppliers, and some components are still sourced from abroad.

Do you have any activities in practice for improving performance, loyalty and retention of your employees? You may like to mention those here along with your experience.

a. Continuous training b. Personal rapport with employees

Can you list your activities, if any, towards the welfare and well-being of your stakeholders including employees, investors and customers)

We surely care our stakeholders and strive to offer them the value for their stakes. Customer satisfaction is one major objective. We also take care of our Moveable Assets - Employees in various ways, for example offering help for housing to our employees.

Do you take up any specific actions and undertake activities for environment protection?

We ensure clean practice, we reuse paper, packing material.

Any other points you may like to add for information of readers.

Starting even small business and working for its growth, will give you more satisfaction than any position in employment.