ankitgokani
Ankit Gokani
Well almost a year back CEO were seen talking about the growth of India and its tie ups wit foreign companies.
Cut to the present and peak to leaders across India Inc and what you see is them talking about cost cutting, cash conservation, etc etc.
That’s the impact the global financial Crisis has had on companies across the world.
Apart from many measures taken by the government or the RBI the spotlight is on the CEO, the one person whose thoughts matter the most in any organization.
You see people sacked the latest ones to get the pink slip are the Citibank workers.
“CEO's will need to concentrate on cash formation and conservation, cutting costs across the board and looking at strategic options for enhancing business such as value for money products,’’ said Adi Godrej, chairman, Godrej group.
This change in strategies from expansion to cost cutting has surely changed the plans of the CEO and also caught many CEO sleeping.
Shreekant Gupte, who is a coach to over a dozen CEO's, said: “I have witnessed CEO moods swinging from wild over-confidence to wild pessimism in a matter of 8 months".
But still all the CEO are positive and expecting a growth of 6-7 % this year.
Godrej said: “I expect growth in 2009 to be around 7%, provided government polices ensure that there is sufficient liquidity in the banking system.’’ Godrej said companies with strong balance sheet are well positioned to come out of the crisis. From an economic view point, India has so far been spared from a dive into recession.
7 COMMANDMENTS( TOI source)
1. Promoters must use the opportunity of rock bottom prices to up their stake
2. Declare a war on working capital block-up
3. Look for alliances and mergers to take advantage of cost efficiencies
4. Take on highly essential projects and defer those that are aspirational
5. Proper forex management is crucial since borrowings in foreign currency can create gaps with the present exchange scenario
6. Become more competitive on product costing with declining input costs
7. Leaders need to be more visible to employees. Be hands-on, lead from the front
Cut to the present and peak to leaders across India Inc and what you see is them talking about cost cutting, cash conservation, etc etc.
That’s the impact the global financial Crisis has had on companies across the world.
Apart from many measures taken by the government or the RBI the spotlight is on the CEO, the one person whose thoughts matter the most in any organization.
You see people sacked the latest ones to get the pink slip are the Citibank workers.
“CEO's will need to concentrate on cash formation and conservation, cutting costs across the board and looking at strategic options for enhancing business such as value for money products,’’ said Adi Godrej, chairman, Godrej group.
This change in strategies from expansion to cost cutting has surely changed the plans of the CEO and also caught many CEO sleeping.
Shreekant Gupte, who is a coach to over a dozen CEO's, said: “I have witnessed CEO moods swinging from wild over-confidence to wild pessimism in a matter of 8 months".
But still all the CEO are positive and expecting a growth of 6-7 % this year.
Godrej said: “I expect growth in 2009 to be around 7%, provided government polices ensure that there is sufficient liquidity in the banking system.’’ Godrej said companies with strong balance sheet are well positioned to come out of the crisis. From an economic view point, India has so far been spared from a dive into recession.
7 COMMANDMENTS( TOI source)
1. Promoters must use the opportunity of rock bottom prices to up their stake
2. Declare a war on working capital block-up
3. Look for alliances and mergers to take advantage of cost efficiencies
4. Take on highly essential projects and defer those that are aspirational
5. Proper forex management is crucial since borrowings in foreign currency can create gaps with the present exchange scenario
6. Become more competitive on product costing with declining input costs
7. Leaders need to be more visible to employees. Be hands-on, lead from the front