The new generation has challenging jobs for retentive and sustained business houses in the form of profit-making businesses with the help of family business members. However, there are some remarks about the experience; because of the new generation, everything needs to be on the table.
Nowadays, no doubt, more young Entrepreneurs have more energy, are dynamic, technically established, and have more learning power; that ability may help them reach unlimited success, but with a little more guidance and mentorship, they can excel. Below are some of the suggestions and points.
As per experience, new generation people don’t find solutions if they face problems. They give more theoretical and biased solutions instead of practical ones, and in that case, more than 50% of the decision has been bounced; in that situation, the business firm/ manufacturing goes into the minus side, and after that, manufacturing (any type) house loses breakeven point, then converted to sick industry(NPI), which creates more downpours between employer and employee.
So, we should be mature, self-discipline, well-learned, resource allocation, present situation, and knowledge about the product mix that is produced. After that, management individuals will have a boost of power and self-confidence.
The obstacle is the main area too weak/sick the manufacturing unit, so how to reduce obstacles without fail; here’s how an individual could do that:
- Decisions should be taken at the right time.
- Feedback from employees.
- Data analysis.
- Past data review.
- Daily monitoring issue.
- Be practical in every aspect.
- Do not allow a late working culture for finishing work/job.
- Learn from others, but do as your mind has observed.
- Try to remove negativity from your healthy atmosphere.
- Present situation daily monitoring.
- Monitoring financial and proper utilization of currency.
- It requires patience to deal with any work.
- Should have trust among the team members.
- To follow technology and implement it if possible.
- Try to make it easy to operate.
- To develop face reading and good observation power.
- To create a fearful atmosphere, which is more beneficial against punishment.
The above point can help to reduce the management burden for the smooth running of the manufacturing house (any type). Young entrepreneurs should also follow the micro method in operation to reach maximum output with maximum sales delivery; otherwise, business houses will lose profit margin.
Gopinath Rout (GM operation)
