many peoblems are bound to come in the prh of progress. Ratan tata shifted the manufacturing plant for Nano cars from singur to sanand due to un foreseen complexities." Which type of competency is shown here ? Discuss
Answers
"Many problems are bound to come in the path of progress, Ratan Tata shifted the manufacturing plant for Nano Cars from Singur to Sanand due to unforeseen complexities". The type of competency shown here is problem-solving.
Once an entrepreneur is aware that he /she has ventured into a new business and has taken certain calculated risks, he/ she should also be prepared for the problems that are bound to come in part of the success of his/her venture. When faced with a problem, he /she should evaluate alternative strategies or resources that would help to solve the problem and in the process, generate new ideas, products, or services.
So, an entrepreneur should possess the competency of 'problem-solving' otherwise he/she would not be able to sustain their venture for long.
The following steps should be followed by the entrepreneur when looking for a solution to a problem :
(i) Identify the alternative solutions to the problem.
(ii) Arrange for the resources that would help to implement that particular alternative.
(iii) Identify any new idea, product or services that have evolved due to the above exercise.
In the example given above, in the light of unforeseen complexities in establishing a manufacturing unit in Singur, Ratan Tata came up with an alternative strategy to open that unit in Sanand. So, he possesses the competency of 'problem-solving'.
Hope this answer will help you.
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