Corporations have to become very clear about goals, objectives, businesses - and if necessary restructure and consolidate to achieve an effective shape. The days of big conglomerates are over. The Korean crisis has proved that. Companies have to stick to core competences and acquire the right size. During a demand slack, companies are forced to merge, says Harsh Goenka, RPG Enterprises.
Strategic choices have to be made.
Operations have to be streamlined, competitive advantages of the corporation and competitors have to be identified, non-value added activities junked, costs reduced and resources conserved. This is not only beginning to happen, it's going to become the order of the day. Next, get your organisation in fighting trim. The buzzword is 'reconfigurable' or 'flexible organisational structures based on project teams built around business processes. Team members can be successfully redeployed and reconstituted around new opportunities and new sources of competitive advantage, explains Anand Mahindra.