Page 58 - MA - May 2017

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had in view the putting into action attract official and unofficial of five rewards that ensued to the
financing institutions under attention. Like virtue being its team, including of course the leader
the control of both, so that the own reward, success in a venture Mr Sergio Marchionne. One, the
established industries could flourish, accrues when the variety of inputs first and foremost was the amount
while those coming under the I(D responds to requirements. Thanks received from the US Treasury at
& R Act, 1951), after renovation to leadership of Marchionne, the the intervention of Barack Obama,
could find their feet. Many industrial limping corporations had come an unprecedented step. The courage
units coming under the purview back on track. Return of the loan of conviction that Marchionne
of the Act did have a national taken resulted from the team-effort displayed was convincing enough.
significance. Most unfortunately, as that he organized. The dictum that Two, allowing the leader of the
many critics underlined, industrial costs and expenses are not the same, team to have freedom to act in a
units which were nationalized yet remains unrealized! The whole totally non-conventional way; the
failed to deliver results as expected process of the illness and recovery entire atmosphere of course had
of them. This was mainly because underlines four ‘C’s, as the ruling the assurance that no waste of
of distance management practices mantra: Courage, Comprehension, funds would take place. Three, the
– beginning from appointments Co-operation and Calculativeness ! leader of the team dispensed with
to their day-to-day actions and Task-orientation did the trick. all traces of hierarchy and the team
managerial performance. Good was made an acronym underlining
management does not ensue from The Rewards that T stood for togetherness, E for
shared freedom as the Chrysler The aforesaid pointers relate energising, A for actuation and M for
or Fiat demonstrated. It is well to the problems faced in putting measurement and control. Three,
established that a manager without back on rail the ailing automobile the funds that the US Treasury
discretion is not worthy of his companies as a result of the made available were accounted for
designation and if he has confidence economic downturn during 2007- separately and Fiat and Chrysler
in his own ability and the ability of 09 in most countries of Europe and funds were never mixed up even
his team, he should be allowed to America and the act of bringing though the expertise of Fiat was
function towards realization of the back on track the ailing automobile indeed used for the company. Four,
objectives without any hindrance. companies of Italy and America. the entire organization structure
The rewards from patience and The task was stupendous and called was flattened so that there was
non-interference accrued in terms for Herculean effort for selecting the bossing over the people at work.
of returning all the money that team and keeping the team at work This made the team a team. Lastly,
Barack Obama administration of the highest quality. After fulfilling the close scrutiny of every detail
made available to Marchionne, the task, we naturally ask what were ensured that no waste of either
even much before it was due, as the rewards. After completing the funds or time or even expertise
noted earlier. With lifting of the mission, the team was particular could take place. In all meetings he
controls, and economic planning in returning the amount received would appear unannounced hear
being given a virtual good bye, the from the Treasury in the USA. The the proceedings. The team leader
Indian economy has been relying two automobile companies received was thus in a position to know and
more and more on the stock market, the benefits of scale economies judge what was going on and thus
even if it is at the cost of really though, apart from skills and scale achieve the impossible in the throes
efficient, responsive management. economies, the operations of the of the nationwide downturn. The
Uncertainties that are germane to two companies were not allowed to Team Leader, Sergio Marchionne,
a democracy must be combated to be mixed up. The amounts received had a close feel of what was going
restore the counterpoise. Thus, in from the US Treasury, were used on, in the face of totally non-
all, considerable thought, patience exclusively for Chrysler. All the conventional and the prying eyes
and acumen that go into the money received on loan from the of critics looking for faults. Return
strategizing thought and action US Treasury, having been returned of the funds before time silenced
must weigh in with the realization before due dates, it should have been them all.
of objectives. A lot of leeway yet natural to consider what returns
remains uncovered that should ensued as rewards. One can think chattopadhyay.p@lycos.com

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