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IMPORTANCE OF MANAGEMENT EDUCATION IN DE-CENTRALIZED TEXTILE INDUSTRY

Published: June 4, 2013
Author: TEXTILE VALUE CHAIN

Textile Industry is one of the largest industry in India . Each part of the country has formed its specialization in the field of textiles . For Eg :Bhiwandi has specialized in the manufacturing of shirting fabric , Bhilwara has specialized in the manufacturing of suiting fabrics and so on . The business of textiles is a very decentralized in nature wherein one has to deal with all kind of personnel and all kind of systems . One has to be flexible enough to tackle all the challenges which come up each day in business . Management Education helps an entrepreneur to fine tune the skills which are required to successfully and smoothly carry out the operation solving the challenges .

De-Centralized Industry poses a lot of challenges in all aspects of business such as operations , marketing , human resources , finance . Being a non lucrative business by nature it is very difficult to attract quality talent in this sector . Right from workers to mid level manager to senior executives are difficult to find . To attract and retain quality talent is a big challenge in today’s time for growing textile companies .

Marketing and Delivery to a de-centralized industry requires a perfect distribution and marketing strategy . ON TIME DELIVERY becomes a key factor between the successful and the unsuccessful companies . In Management Education one gets to study various models of successful companies which helps oneself to think and form his strategy or apply an existing strategy to his business . In depth analysis and brain storming sessions help an individual to broaden his thinking .

In Textiles , most of the companies are either small scale or medium scale . Availability of finance and other resources become dearer to them . For achieving continuous and paced growth finance is a key factor which is required on time . Management Education explores and gives good insight on how to raise funds and various options available to raise funds . A entrepreneur can gain a good knowledge on the various financial instruments available which can help lower the interest rate .

Management Education gives a good practical and theoretical exposure on various areas of business . It gives a deep insight on each area be it operations , marketing , finance , human resources etc . It helps and entrepreneur develop a new approach to business . It makes entrepreneurs think differently which is the key to success in this competitive environment of business .Good contacts are also made during this kind of education which gives a long term leverage in business .

In my opinion , every entrepreneur must enroll himself in such kind of Programs . They are part time programs which don’t take up a lot of time of the business and at the same time new skills are developed to face the competitive world .

 

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