How does one plan for uncertain times and continue to grow? How does one deal with a demoralized team? Here is an interview with Mr. Renukaprasad BM, CEO of Avasarala; who has 28 years of industrial experience in electronics, design, management. 

We are living in times of economic slowdowns and currency crisis. Has the USA recession affected your business?

Not as of now. Most of our requirements are domestic in nature. So we have not been affected as much as other companies have been. As an engineering company we have catered to the Indian market over the past two decades successfully. The US recession is a scare for many businesses in India. The ideal way to make your company recession proof is by being smart about your service or product offering.

How should an organisation cope in times of turbulence?

Turbulent times are a test of morality and character of businesses. The values are the core of any organization. The values are what give the organization its identity. So, even if there are turbulent times, an organization should not compromise on its core values and beliefs. The company or people have to prove their mettle in trying times and come out of it unscathed. In my opinion, certain values are highly non negotiable irrespective of whether there are turbulent times or not.

You have seen your business grow from scratch. What is the main learning you have had after facing turbulent times?

We have been in the market for about 20 odd years. Earlier we concentrated on the electronic and automation industry. We are primarily an engineering company and we have learnt that it is essential to keep our core strength which is engineering. We have learnt that it's important to master one area which is niche in the market. It is vital to work on your core strength and then add new domain using the core strength as your foundation. Recently we have switched to two new domains which are nuclear power and space technology, but the foundation is the engineering skill sets we have. By having a core basic expertise, the recession cycles will not affect you. Hence, Chidambaram's finance budget will not have much of an impact on us. We have learnt to be realistic and not get caught up in all of the hype that media generates or markets talk about. Sticking to basics is a sure shot guarantee of success.

What's your advice for companies that are presently facing turbulent times?

1. Understand your core competency and improvise on it. Sharpen the saw as they say! Once you are really strong in your area, no turbulent time can trouble you much.

2. Have a really close look at the markets and understand them. Then you can tweak your services to fit the requirements in those markets. Ensure that your services do help filling a gap in that particular market. There is no point if your core offering in not wanted in the market.

3. Planning ahead of time, gives you a roadmap and a clear charter on how to proceed to your destination.

4. Continue to do business in ways that expand your market share. Stick to basics, but explore on new avenues and domains. If something exciting comes your way, do pick it up.

5. Find ways to increase your value to customers in ways that cost very little for you; or for them. This way, your value in the customer's eyes multiplies many fold.

6. Focus on being more efficient (waste-cutting) and more effective.

About The Company

Avasarala was started as a project consultancy company in 1985 to lend technical expertise to the Indian machinery manufacturing industry. In a hope to capitalize the latent potential in this segment, the company forayed into manufacturing in 1986. It began indigenous design, development and fabrication of Special Purpose Process Machinery and Automation Systems for diverse client needs in the global arena. An in-depth understanding of client needs and aligning processes to meet changing demands enabled Avasarala to emerge as a reliable technical partner to a variety of industries. Leveraging its capabilities as a technically versatile company, it diversified its business interests to allied areas. Today, Avasarala has grown into a diverse corporate entity with an established lead position in niche categories. 

Compiled by Mr.Rajiv Mathew for Businessgyan

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