A STUDY ON PERFORMANCE OF SMALL AND MEDIUM SIZED ENTERPRISE (SMS’s) IN INDIA AND STRATEGIES FOR COUNTERING DOWNPERFORMANCE NATIONALLY/GLOBALLY

G Vairava Subramanian

Abstract


ABSTRACT

Small and Medium sized Enterprise (SME) development is crucial for sustained and equitable development of the Indian economy. Evidence from more economically developed Asian nations demonstrates that SMEs have considerable potential for driving economic growth. With the advent of globalization, manufacturing SMEs across are facing increasing international competition and the need to improve quality and efficiency of output to match international standards to survive looks imminent. With globalization India has a serious threat of economy downturn which will be a shock for most SME’s. Therefore this study to underlined the strategies for Indian SME s  Countering  repeated  Global/Domestic Slow Down, The Study was carried out by means of Secondary Data and revealed that Indian economic intelligentsia have individually and collectively suggested ameliorative steps for saving the small and medium entrepreneurs.  By planning to implement Cost optimization, Manpower Trimming, Avoidance Postponement of Expansion Plans and Additional Borrowings, Sourcing of Personal Investments,  developing Customer Relationship, Optimization of Working Capital : Identification of Financially Strong Clients  Factoring of Invoices  Domestic  L/C  Discounting. The Indian companies would have to study the above mentioned solutions and seek extensive dialogue with their employees, customers, banks and share holders to implement each of the solutions from time to time in the near future.


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ISSN : 2251-1555