My Submission For Economic Times Prodigy Case Study

Required Details 1. Personal Details Name: Mr. Nikin Kumar Jain Date of Birth: 03/07/1988 Postal Address: Roy Tires and Auto lines #42-1-8 Cinema Road Kakinada-533001 E-mail: [email protected] Mobile: 9790369060 City: Kakinada

State: Andhra Pradesh I am not a member of ET in the Campus Program.

2. Stream of Participation: Category A 3. Education: Graduation: B.Tech IT – Vellore Institute of Technology (Currently Pursuing in 7th Semester) 4. Experience: Full time work experience: 0 years

Summary

My understanding of the given case prefers that Sustain World shall be a feasible option for Mr. Apte. After analyzing the pros and cons of both the options available I have reached to such a conclusion. Since Mr. Apte has been involved in multiple projects with International financial and labor organizations it conveys us that he has got expertise in dealing with financial and labor related issues. In Sustain World we have got all the initial setup ready, we need to give a supportive backing and Apte’s expertise in labor and finance related issues can help us to pass this. There are many small scale industries in Maharashtra which devolve due to lack of expertise in labor management and financial auditing. Our Organization shall focus on such problems and provide them techniques by which they could well manage their skilled labor force and software which could manage their finances. There are many community based industries which build products like candles, fluorescent sticks, pots, baskets and many others. They aren’t aware what price their products could fetch them in urban markets. If Sustain World provides them a platform where they could sell their products for more profitable prices then it shall prove to be a very good capability building model. Our Organization should focus on ways and means of improvising technology in small scale industries, labor management and logistics. Here the amount of risk involved is less compared to the other model. List of classified reasons are:1. Amount of capital needed to be invested in less compared to other model. 2. We can have more faith in a community of people rather than an individual. 3. Probation period of Sustain world is less compared to other model. .

Sustainability and Viability

Sustainability is a continuous process that requires critical self-analysis, honesty, innovation, and risk. Sustainability encompasses the operations of the entire business: every process, every activity, and every function.

Since here we are lending finances and tactical strategies, the efforts that a viable proposition makes to maximize its economic impact often refer to the economic impact the proposition has on communities or societies within which it operates. This does not refer to the "profit" the company shows on financial statements, but rather refers how the community or society "profits" from the presence of the options they have, which in turn will result in continued profitability for Sustain World. That is, economic impact refers to the continued prosperity of the business due to the economic benefit it provides to the community or society. I have identified a few factors that contribute to the success of viable models for sustainable development:   

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We will need to build our own capacities and strategic alliances with other enterprises, government agencies and development practitioners. Involving local communities as partners and co-designers of new models enhances the local buy-in for small scale industries. For sustainable development we need to be self-sustaining in the long term. However, significant investment of time and resources at the start is key for successful innovation and scale-up. Trade-offs among different sustainable development goals – economic, social, environmental – need to be recognized and addressed. Ongoing monitoring and evaluation need to be built in to Sustain World.

Result: As our company begins to build a track record of changes and successes, continue bringing more processes, activities, and departments into the fold until. There shall be no end to this journey; it will be a continuous process.

Sustain World’s Selection Process

We shall basically believe that all human are good. The way we can identify the required people is publishing the companies profile in news papers and advertisements. Mouth to mouth publicity can also do wonders. Basically we need a strong marketing profile so that more and more people come to know about what we are offering. Now, the next step in scrutinizing the applications received from the needy individuals and communities. The major question to be included in the format of our application will be like, number of employees the company has at present, future goals, problems it is facing, viable options which it thinks by which it could come out of that problem and so on. We can also reach to these needy people through the volunteers which our company could employee through an online portal. While employing a volunteer we need to mark them on two basic parameters, first is the enthusiasm they have, second shall be the zeal to solve community problems. Organization can even rope in senior citizens who are much aware of things going in and around, the senior citizens shall always be happy to inform us if they find any small scale industry facing troubles. Senior citizens can identify the problems of the individuals and send in an application about how the problem can be solved. Later the selection committee shall or shall not approve the application by checking the viability of the business. This can help senior citizens to rope in some money, and may also give them some work. This technique will not just create jobs for the best people but also it will solve many problems the community based industry face or an individual based industry has. And this is sure to work out because the one who always work to help the most thrives. We need to have an effective knowledge management system. For this we need: Completion of a critical records analysis;  Provision of Standard Operating Procedures;  Cross-skilling for key employees;  Capture and management of critical information;

An old quote rightly says: If human beings are perceived as potentials rather than problems, as possessing strengths instead of weaknesses, as unlimited rather that dull and unresponsive, then they thrive and grow to their capabilities.

Impact in Three years

I would say that this was the major question which made me select Sustain World over Cascade World. This organization can have a hugely beneficial impact on national development. Organization’s impact analysis is the first step towards a comprehensive business continuity plan. Consequences, when Organization continuity is not met, can be severe. A well-executed organization impact analysis (OIA) can make the difference between a fully developed, robust organization continuity plan and a mediocre one. We shall be employing volunteers and senior citizens in turn creating job opportunities for them. Providing advisory needs to community based industry will help them to stabilize their business model and hence will ensure that they create more job opportunities in turn. This would help in employing more job seekers. This will give more people an opportunity for people to join in the development process of the nation. May this increase the pre-capita income of a person too? A successful economic development strategy must focus on improving the skills of the area's workforce, reducing the cost of doing business and making available the resources business needs to compete and thrive in today's global economy. We may turn in to a world's sole remaining super power and economic powerhouses, our nation's ability to be at the forefront of innovation and production shall enable unparalleled economic success for our nation's workforce. If we can modernize the workforce, make them better qualified, have this framework of qualifications, then I think they have a very good case for more money. No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy. All this points show us how in future Sustain World could impact growing demands of jobseekers. I believe this will create a whole lot of opportunities for the people to come and fill them up.