Global cartels in containers, chemicals, key raw materials forcing customers to pay higher prices: CavinKare CMD
Earlier, the technology was an enabler and now a strategic tool that has redefined the traditional companies, he added.Noting that all key decisions are going to be led from the data insights, Ranganathan said it was important for organisations to be agile and nimble-footed.The other trend that the industry is witnessing is great resignation and needs to be factored in by the industry, he said.80 per cent of people are thinking about shifting their jobs.
Cartelisation across borders in containers, chemicals and key raw materials are making things uncertain and forcing customers to pay higher prices, CavinKare Chairman & Managing Director C K Ranganathan said on Tuesday.
Ranganathan, who is also the President of All India Management Association (AIMA), pointed out that earlier cartelisation used to happen within a country but now it has crossed borders.
''We have seen it only in crude, cartelisation used to happen between countries. Now whether it is containers, chemicals or any key raw material, which are highly investment-oriented, few people are making it in the world, they are cartelising and poor customers, we are all paying for that,'' he said.
Participating in a panel discussion at AIMA's National Leadership Conclave, Ranganathan said that cartelisation is an important thing that CEOs cannot afford to overlook and added, ''cartelisation (is) making things uncertain is here''.
CavinKare is into various sectors, including personal care, dairy, snacks, food, beverages and professional care. It has more than 13 brands.
On the business aspect, he said trends such as digitisation and technologies like artificial intelligence are going to ''fundamentally redefine'' the way the businesses are done.
''I do see a big change coming in the fundamentals of the business,'' he said.
According to him, under Industry 4.0, rapid digitisation is happening around and it is important for the corporate sector to embrace the technology. Earlier, the technology was an enabler and now a strategic tool that has redefined the traditional companies, he added.
Noting that all key decisions are going to be led from the data insights, Ranganathan said it was important for organisations to be agile and nimble-footed.
The other trend that the industry is witnessing is ''great resignation'' and needs to be factored in by the industry, he said.
''80 per cent of people are thinking about shifting their jobs. That is very important and challenging. How can you build an organisation, when people are not stable,'' he wondered.
Further, Ranganathan said that now employees are looking at ''what is the value I am going to get'' and everyone is in a hurry to grow up and need fast compensation. People are getting bored from doing the same job again and again, he added.
''That is an important task for the employers of the new millennials and it is important we recognise that... already, we are learning within HR but we need to accelerate as much as possible,'' he said.
''We are individually measuring their moods. How are they? Are they happy? What else are they going to do to ensure that they are really engrossed in their jobs and they are not looking outside. This has to be very closely monitored and measured and course correction needs to happen,'' he noted.
Dempo Group of Companies Chairman Shrinivas Dempo said that now every organisation needs to build a culture where its employees are happy.
He also mentioned that another challenge for the Indian companies was sustainability.
While noting that the hierarchy of management is getting changed and moving towards shared leadership, he said, ''we have to change the definition of 'survival of the fittest' with 'survival of most adoptable', which makes you the fittest''.
Triveni Turbine Vice Chairman & Managing Director Nikhil Sawhney, who was on the panel spoke on the agility of an organisation and its supply chains.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)