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Friday, April 23, 1999

Role of market forces in India's economy highlighted

EXPRESS NEWS SERVICE  
PATIALA, April 22: The Indian economy has shifted its thrust to a market-driven one and put more focus on free market competition in order to produce world class technology for the global market. These views were expressed by general manager of Wockhardt, M. M. Verma during a lecture on People Quality Management, which was organised by the Department of Business Management here today.

He added that manpower was the key source in an organisation as there was no depreciation cost involved and was a long-term fixed asset. The general manager stressed the importance of openness, collaboration, teamwork, trust and authenticity factors to stimulate market-driven competition.

Quality, according to Verma, stands for ability to meet all the expectations of the user of goods and services and was an important tool of management. He also discussed the importance of meeting international standards and ISO-9000 prescriptions.

While concluding his lecture, he suggested an action plan for quality management with special emphasis on the workforce. He further stressed the importance of upgrading skills of employees and their total involvement in the organisation.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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