Youth is a golden phase in the life of an individual. There is no possibility to ensure quality in the phenomenal world-of-objects, unless there is quality within the individual. One must not attempt to change creation (meaning the phenomenal world) before changing one’s vision (perception process which is influenced by one’s mind-set). That is what one has to do. To develop good qualities, one may have to struggle a lot.
Case Studies in the Indian Context
Case of Minority Shareholders in a Newspaper Company
There was a daily newspaper with a very large circulation which was initially started by private entrepreneurs. After sometime, the company went public. Thousands of public shares were issued and many people purchased shares at the rate of INR 500 to INR 1000 per share. At a later date, the shareholders were not evincing any interest, as they all became part of the minority shareholders’ group, as one individual was dominating the scene. It was reported that the organisation was working in a disorganised way. But the minority shareholders could not do anything about it.
Case of Artificial Hike in Share Prices
Case of Dilution of Product Quality in the Textile Industry
There are certain things which people should know relating to textile business. In a piece of cloth, there are supposed to be thirty by thirty threads (warp and woof). What do some manufacturers do with these thirty threads? They reduce the quality by using only twenty-five threads. So on the whole, the profit goes up by a few crores of rupees. This is the way, how quality is affected though quality should not be tampered with. If required, price can be increased, but quality should not be decreased.
We should take care of small things also. Earlier a particular brand of suiting cloth used to be very fine, soft and attractive. To this quality of cloth, the manufacturers added nylon and diluted the fine quality of the cloth. Consumers go by brand name as the brand still continues to enjoy customer confidence. However, the quality of the product which was earlier available, no longer continues to exist.
Case of Poor Quality Soaps
The soap factory case illustrates the significance of good quality inputs and processes in the making of quality finished products. The manufacturing process of soaps involves mixing of different chemicals to make a solution. The solution is then poured into moulds that are stored in big tanks to be dried under heat for a certain amount of time. Initially, the outer part is solidified and becomes hard while the inner part could continue to be in a liquid state because of intermittent power supply and other infrastructural breakdowns and shortages. Such low quality products should not be packed and sent to market for sale without proper checks, as that will affect the reputation of the organisation in an unfavourable manner. However, there are many organisations which send such sub-standard products to the markets.
What is the reason for the non-involvement of the minority shareholders in the newspaper company? What is the reason for the unexpected fluctuation in prices of shares? What is the reason for the dilution in product quality in the textile organisation? What is the reason that sub-standard products reach the markets? The reason is the lack of inner quality of people associated with the respective organisations.
Notes:
i. Baba did not mention the name of the newspaper and this could be only to illustrate the state of affairs with respect to erosion of values in business.
ii. The name of the brand has not been mentioned here for reasons of propriety. Though this practice of dilution in the quality of cloth has been mentioned with respect to a particular brand, it must be noted that such practices may be occurring across the industry and all brands and companies in the textile industry must take note of this to reform their business practices.
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