Abstract
In present era of throat-cut competitiveness, the earning and growth of Indian SMEs has been deteriorating continuously and such companies are bleeding out of financial crunch. This paper examines the influence of evaluating, implementing, and accounting for the various operational efficiencies in an organization which can bring turnarounds in improving the firm’s commercial and financial performances. Fifty companies were scanned for this study using well structured questionnaire as well personal contact program at various levels of organization. The results show that there is a significant correlation between the roles of various operational efficiencies within the organization that can prove to be a turnaround in enriching the commerce of the business entity. Type of corporate culture and organizational commitment do influence on the financial performance of Indian SMEs especially in densely populated auto component manufacturing companies. The propositions of the study have also been addressed. Furthermore, an attempt has also been made to improve agility, visibility, and operational performance across manufacturing. This paper is unique in dealing with the ways and means for applying six-sigma, lean-manufacturing,QMS, TQM culture for assessing business efficiency especially in SMEs in Indian Auto Component manufacturing units. Keywords : SMEs, Operational Efficiency, Financial Performance, Turnaround, Lean-Manufacturing.
Highlights
Profits help strengthening and broadening the capital- and-assets base of business and ensure its future growth, and for enhancing its ability to absorb shocks and set-backs common in business.The purpose of this paper is to provide new insights to the Indian SME’s in the domain of creation and sustaining profit by redefining operation-technology under the umbrella of lean manufacturing
While interpreting overall effect of various parameters, it has been noticed that forty-two percent employees do understand and implement the drives for enhancing operational efficiency and there is a big gap of nineteen percent among various employees on this aspect
It is a true fact that Indian SMEs need to enhance the operational-efficiency for the survival in a competitive automobile industry
Summary
Profits help strengthening and broadening the capital- and-assets base of business and ensure its future growth, and for enhancing its ability to absorb shocks and set-backs common in business.The purpose of this paper is to provide new insights to the Indian SME’s (especially for the companies in automobile industry) in the domain of creation and sustaining profit by redefining operation-technology under the umbrella of lean manufacturing. Table-2 exhibits that managers and supervisors do understand the lean concept and its implementation as low as thirty percent while operators have responded to fifteen percent only Despite of this there is a big gap among various hierarchies in understanding the various aspects of lean manufacturing in Indian SMEs. Responses of respondents regarding QMS practices have been arranged in Table-3 below. For summarizing the views of all respondents under the various parameters have been piled up in the form of table-7 It can be revealed from table-7 that on an average; fifty percent of managers, forty three percent of supervisors and thirty one percent of operators really understand and implement the various aspects of enhancing operational efficiency
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