Enterprise Transformation – A Need for Survival and Growth in Small Scale Fabrication Units

• Published in: Procedia engineering Vol. 97; pp. 2306 - 2312
• Main Authors: Vezhavendhan, R., Sarkar, Chinmoy
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 2014
• Subjects: enterprise transformation; growth; Survival; Survival; growth; enterprise transformation
• ISSN: 1877-7058; 1877-7058
• DOI: 10.1016/j.proeng.2014.12.475

Unable to compete with the globally competitive environment, many companies which follow a traditional approach to business are on the verge of perishing with millions of Rupees being washed down the drain. The market has become globalized, competition is cut throat, customer expectations are soaring and their demands are huge. Despite these, some companies are surviving the onslaught and a few are even thriving under adverse conditions. How are these few companies able to achieve this? How can the battling companies survive? The need of the hour is sustainable growth. Enterprise transformation is the key ingredient for this growth and also the sustenance for this growth. While a lot of research has gone into enterprise transformation of large scale industries, not much research has gone into the search for the reasons why many small scale units have not transformed or even thought of transformation? This paper analyzes why a majority of the small scale units perished along with the reasons for the success and growth of the few successful organizations. And how enterprise transformation had helped them to succeed and grow.