There is an interesting comparison that I received in my FB today about how we fare poorly compared to emerging economies in manufacturing quality products. This has been the bane of this sector and it may be one of the reasons that stifles the growth of this segment.

Let us see how do we compare with other nations:

Micro-, small, and medium-size enterprises (MSMEs) on average have only half the productivity of large companies, and less than that in emerging economies.

MSMEs’ economic and employment contributions in 16 countries account for more than half of global GDP. Their contributions relative to large businesses vary widely from country to country, but boosting the productivity of these categories of enterprises could substantially increase GDP, especially in emerging economies.

India has a long way to go in improving productivity. Stop chasing quantity but run after quality.

The picture attached here ( Courtesy: McKinsey&Company) is an excellence depiction of how we lack in producing quality products! MSMEs are born with sparks in the founders’ minds to create differentiated products or services for the consumers. The start seems to be always with good intention but down the line the pressure of growth, lack of funds and RoI assumes priorities and the quality suffers. ‘Chalta hi’ attitude at every stage of production or workmanship results in average quality.

Do you agree?

#excellenceinmanufacturing

#msme

#qualitynotquantity