How to stimulate exports of pakistan industry?
Life is hard. Whether it’s personal effectiveness or business growth, it isn’t a cup of cake to strengthen the balance sheet at a consistent level in the long run. Constant buzzing of competitors, on the market, keeps the managerial board at the brink of hustling. In such scenarios organisations, especially in Pakistan, must embrace the Continuous improvement culture while maintaining an eye on global parameters. Likewise, have you Ever Wonder, how come a scrap of metal when forged and HAMMERED in a particular manner gets a shape of blazing sword ?. This phenomenal transition is significantly attributed to the necessity of time and the power of CHANGE. The Necessity always force the humanity to ponder over the numerous possibilities of making things better than earlier ones, while the notion of CHANGE is proportional to the DARWIN theory of evolution.
In this article, we are going to look at the export trend followed by industrial sectors in Pakistan, in previous years.
It is clear from the above figure that, comparatively, year 2014-15 turned out to be the stagnant as compared to earlier one in terms of total export value. Multiple factors are responsible for this notion but let us throw a light over three major points following which Pakistan businesses can be revived in a following fiscal year (2017).
It is a need of the time to get rid of the traditional method of manufacturing things or providing services. Now is the real need to focus our attention on each activity involved in business while scrutinising them in the light of VALUE OR NON-VALUE Addition analysis.
From lessening cycle time to exhibiting a continuous improvement culture in industrial sector could take our exports to a new level. Due to the processes wastage a high production cost, our global competitors take full advantage of providing more quality in less time & money.
2) Go Global
Stop thinking “within premises” and start exploring possible business opportunities in an entire world. There is a reason why 500 Fortune companies take loin’s share in the global market because they are risk takers and ready to engage in an untapped market creating blue ocean mark.
In my thorough consulting career, I have come across many organisations portfolio doing typically good, anonymously, i.e., Global world does not know about their existence. Today, running a business without website & social media presence is like driving a car without gasoline. Deploying online portals to display the catalogue of industrial products is being embraced by both moguls & small business owners, today.
In an upcoming era, disruptions are surely going to take place.Rather than blaming government stakeholders or other relevant parties, industries must strive to create their own hub of self-dependency in the form of power plants & going green (reducing costs). These traits, when followed with utter discipline, are surely going to help our industrial sector in becoming a leader in the GLOBAL market.
In todays competitive environment, where disruptions are making it difficult to entertain customer properly, the need of time, for Pakistan industrial sector, is to produce the best quality product and deliver it in a minimum time at a minimum cost. Take an example of any product or service, due to the global saturation and economy destabilisation; the industrial sector is left with only one way to embed their make in the market, i.e., By cutting down the waste or process associated cost which is not adding any kind of value in a final output.