2016- An Invigorating Dawn in the Indian Economy!

Posted by |Feb 5, 2016|399 comments

No wonder, that the unsteady financial outlook of India has been a gospel truth in this 21st Century. In this writing piece, I am exploring the financial year- 2016 regarding the outcomes it is likely to bring for us.  We know that economic deterioration is not an everlasting thing but, the continuous series of critical financial downturns has indeed terrified us with longer and constant losses. A weird crisis is increasing at an enormous pace as global economies have complex interrelations. The hazard has become viral and thus affecting many countries around the globe. In this realm of chaos, India has surprisingly remained quite resilient. One aspect that may ease the tension is national consumption that alleviates the spoiling economy. Let me highlight few benchmarks achieved by Indian economy. In 2012, Indian GDP was at $4.825 billion which made our country the 3rd largest economy in the context of PPP (Confederation of Indian Industry). As witnessed in the last decade and a...

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Lean transformation at a leading manufacturing company in Middle East – A case study

Posted by |Aug 26, 2015|20 comments

Preamble-  From its modest beginning in 1987, Genco Group has emerged as a shining example of Oman’s entrepreneurial spirit and manufacturing prowess by becoming the leading company in engineering design and manufacturing in the Middle East & North Africa (MENA) region. The multifaceted powerhouse has partnered with the best-in-class global leaders to offer a wide range of effective solutions to clients including ministries and government bodies, private sector giants and multinational companies across industries such as power & water (utility), oil & gas, construction, manufacturing, tourism, health, education, telecom, real estate, and retail, to name a few. Genco manufactures an extensive range of power and distribution transformers, low voltage switchgear and packaged sub-stations using state-of-the-art technology at its manufacturing facilities in Sohar and Rusayl. With a capacity of 10,000 MVA, Genco has one of the largest facilities in the MENA region. The...

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4 Step Approach to Effective Process Management

Posted by |Apr 17, 2014|1 comment

Waiter: “Sir there is an emergency. We have an enormous order of lasagne to be delivered to our regular customer. But the expert chef is not available. However the customer insists that he wants his regular order only.”   Manager: “But we can’t lose the order just because chef has not turned up. This way we will keep making losses by depending on him!”   Such scenarios are common in every line of business, wherein the results are subject to people executing the task. However, if there is a proper management of processes, such catastrophic situations can be easily avoided. Process management is having a standard way of performing the activities required for the organisation, to satisfy its customers and having a measurement system in place to monitor and control them. It enables the organisation to be process driven instead of man driven.   If the restaurant discussed above had a process driven approach for serving orders to their customers they would have not...

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Economic Outlook

Posted by |May 27, 2013|0 comments

Looks like the worst is behind us in terms of economic instability; and finally growth and reforms seem to be staging a comeback. One of the immediate tell tale sign is the softening of inflation, in fact the drop in headline inflation figures to an all time low of 5.96% in March 2013 has baffled economists and has called for prompt actions on the part of the Reserve Bank to consider immediate rate cuts and infuse much needed liquidity into the system.   While recent fiscal reforms and policy agility are yet to demonstrate concrete results, few of the prudent measures such as diesel price hike and tighter norms on LPG subsidy mean less cash burnt on wasteful subsidies and more funds available for meaningful public spend. On the industrial output front, FY 13 proved to be one of the worst years in recent history with several of the marquee sectors posting flat to declining growth results. Consumption has remained soft as most preferred to play wait-and-watch. Exports have remained...

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Statistics simplified – Part 2

Posted by |Feb 18, 2013|0 comments

Hello friends, in our last session, we discussed about the basic statistics and the statistical concepts to get the overview of the subject. Let’s move on and understand some more about this interesting subject.   Statistical Inference. . .   Statistical inference is the process of making an estimate, prediction, or decision about a population based on a sample.   We use statistics to make inferences about parameters. Therefore, we can make an estimate, prediction, or decision about a population based on sample data. Thus, we can apply what we know about a sample to the larger population from which it was drawn!   Rationale: – Large populations make investigating each unit impractical and expensive. it is easier and cheaper to take a sample and make estimates about the population from the sample.   However Such conclusions and estimates are not always going to be correct. For this reason, we build into the statistical inference “measures of...

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Statistics simplified – Part 1

Posted by |Feb 18, 2013|0 comments

In current scenario, we are constantly being bombarded with statistics and statistical information. This bombardment includes political polls, customer surveys, sales forecasts Stock market projections, sports statistics, marketing information etc. on daily basis. But have we ever thought how much of these statistics are we able to interpret?   Though some of us are able to interpret the stats quickly, it is not the case with everyone. Is it possible for everyone to make sense out of this data?   YES!!! Why not? Statistics is a fun & not at all a boring, complex subject. Through the series of my blogs on statistics, I will provide some of the glimpses of statistics to prove that “statistics is fun”   So let’s discuss about statistics.   “Statistics is a way to get information from data.”             DATA is nothing but facts, especially numerical facts, collected together for reference or information INFORMATION can be...

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What’s in Store for India?!

Posted by |Feb 7, 2013|0 comments

That the economic outlook for Indian remains wobbly is a well known fact. In this blog, I explore what FY 14 has likely in store for us, and what we can do to make the best of it. Though no economic downturn is ever permanent, the recent cycles have demonstrated that they can be both longer and more frequent than ever, thus highlighting a unique problem arising due to the extent of interconnectedness of global economies. Cases in point: A remote nordic island, Iceland’s fall shaking up the entire global banking system in 2008, and more recently, Greece, Spain and Portugal threatening the stability of EU and the rest of the world; in short, a contagion effect is an omnipresent threat, now more than ever.   Although several economies worldwide have been hit by the downturn, India, interestingly enough, remains robust. We saw this in 2008, and we are seeing it again now. One vital factor being robust domestic consumption softening the blow to the economy. Let us take a closer look...

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