You need bigger thinking than big investments

C.K.Ranganathan, Founder Chairman, M/s CavinKare Private Limited, Chennai

The Southern India Mills’ Association organized SIMA Texpin 2019, the 13th CEO Conference on 9.9.2019 at The Residency Towers. The conference is held under the theme – Facing the Future. The objective of the conference is to enlighten the textile entrepreneurs about the changing scenario of the industry and the strategies to be adopted to manage business more efficiently. This conference is the 13th edition organized by SIMA.

C.K.Ranganathan, Founder Chairman, M/s CavinKare Private Limited, Chennai was the Chief Guest. He presented SIMA Techno Facts Operational Performance Award or 2018-19 for the top 10 placed mills.

P.Nataraj in his welcome address thanked Ranganathan for being instrumental in helping the industries get proper and adequate access to electric power supply when he was the Chairman of Confederation of Indian Industries, TN.

He extended by saying that the median age in India will be 28 years in 2020 where as in China it will be 37, 45 in Western Europe and 49 in Japan. He said China and Japan have invested more in honing the skills of the youth that is required for the nation’s development. Touching upon the trade war and global business practices, he said debt crisis in any country normally happens because of political and policy issues and keeping these challenges in mind, the conference has brought before the stakeholders of textile industry, eminent textile experts and personnel who would speak about key topics that need to be addressed to aid the growth of Industry.

Ranganathan in his inaugural address said that the quality of one’s business could be analyzed in 4 angles- Strategy, Structure, People and Progress. He said in the value chain, the ones closer to customer – the retailers or powerful brand owners make much profit whereas the other stakeholders, who are farther make less, will be under pressure due to changes in the market. He urged them to increase their efficiency, look after their financial strategies and close their distance with the customer. “Successful companies have been upgrading themselves and are moving closer to the customer”, he pointed out.

Speaking exclusively about textiles, he cautioned that in another 10-15 years, making purchase of clothes will be changed by E-comm and A.I. He pointed that the consumer behavior is changing with time. He said, to compete with such times, he suggested the members to consistently offer quality products in the market and high-value for money. He also advised them that bigger thinking and ideas are needed than big investments.

Talking about Structure, he said that the level of competency of all employees and members of the company should be high. He stated that an executive should not be tasked to manage other areas that are out of his expertise.  Touching upon ‘People’, he said there are 3 kind of people  (i)Creators- who brings sales, market the product and improve the product through R& D; (ii)Enhancers –  the people in finance and production who add value to the products and finally (iii) Protectors – Data Entry operators and Security, etc. Asking them not tolerate mediocrity talents,  he said we can train people with knowledge gap but people with attitude gap should not be embraced because of emotions for too long. He said “a typical Indian Industry retains a person with attitude gap for almost 2 ½ to 4 years”. He suggested that they should learn to take tough calls. Though difficult, as the leader of a company one has to do what is in the best interest of the company.

Finally about Process, he advised them to invest in themselves, learn more, upskill and equip their mind with higher level of thinking as there is a wave of digital transformation that is imminent to dawn on the industry.

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