Optimum use of resources must to tackle slowdown

Optimum use of resources and judicious spending can help a lot in overcoming the slowdown, feel experts. The companies, which have adopted such approach, have successfully maintained their good performance during the ongoing downturn in the Indian economy.

While speaking at the management conclave 'Prayaag 2009', organised at the Institute of Management, Nirma University, Jagdeep Kochar, executive director, IT division, Gujarat Narmada Valley Fertilizer Company Limited, said, "Recessionary period provides the companies an opportunity to cut down the cost to the best extent possible. Further, constant innovation can help them to stay ahead in the competitive world. Information technology industry has come up with a new tool - 'virtualization', which also help the companies to bring down operating costs."

On the second day of the conclave, which has a theme 'Recession proof business - Directions for the future', speakers also discussed the cause of the ongoing recession. Vikram Raj, project advisor, audit, United Nations, said, "The ongoing recession suggests that we should start thinking for the future." Baqar Naqvi, assistant vice president, retail and consumer products, Technopak Advisors, pointed out that some sectors such as education and pharmaceutical had successfully maintained their growth despite the recession. 

Nitin Naik, head, HR, India and SAARC Region, Andrew Telecom, said, "Communicating with employees is key to survive the slowdown."