Some of Frequently Asked Questions
Q. What is Business Management??
“Business Management is Change Management”
If sales need to be increased, that’s change management. If a merger needs to be
implemented, that’s change management. If a new personnel policy needs to be
carried out, that’s change management. If the erosion of a market requires a new
business model, that’s change management. Costs reduced? Productivity improved?
New products developed? Change management.
The job of management always involves defining what changes need to be made and
seeing that those changes take place. Even when the overall aim is stability, often there
are still change goals: to reduce variability, cut costs, reduce the time required, or
reduce turnover, for example. Once every job in a company is defined in terms of the
changes to be made (both large and small), constant improvement can become the
routine. Each
innovation
brings lessons
that inform
ongoing
operations. The
organization
becomes a
perpetual motion machine. Change never occurs as some sort of happening; it is part of
everyday life.
Q. Were there any constraints you faced while starting with the company?
Duchange ABC was incorporated in
September 2020. Considering the pandemic
challenge, however, with the confidence in
its leadership and a good replication from
young entrepreneurs to seek support and positively from the day of its inception, we
acceded to fortify four organizations on a priority.
Q. What services do you provide to the customers?
We provide a wide range of services to our customers.
Organization health checkup with
SWOT analysis, Priority for zero
defects in processes and products,
Benchmark to world class, Develop
task force with clear action plan,
Periodic coaching and mentoring,
Design Thinking, Continual Improvements, Strategic Planning, Motivational Approach,
IMS, Sourcing Support, Project Support, Business Analysis, Procurement Special
Program, IT & IoT Solutions, Change Management Approach, Cultural Change,
Developing Best Workplace.
Q. The most challenging engineering project that you have been involved with during the past
year?
Last year's most challenging task is kickstarting our operations of mentoring
organizations. If it was not for COVID-19, we could start in May 2020. All organizations
with government permissions and new safety rules with strict awareness and
implementation.
Ensured and handled survival turnovers and credit challenges very committed, which
further helped us to reach new normal.
The Second wave also able to reach more than 60% of normal turnovers with
employees courageous teamwork
Q. What do you think are the most important skills for a mechanical engineer to possess?
According to me these are the 10 important skills required for a mechanical engineer
1. Technical knowledge
2. Communication
3. Interpersonal
4. Critical reasoning
5. Creativity
6. Innovation
7. Attention to details
8. Enthusiasm
9. Leadership
10. Resilience
Q. How digitization will change the world and what are its advantages (for the engineering
world)?
One of the main advantages promised by digitalization is that digital capture,
processing, and exchange technologies which will provide expeditious access to
comprehensive data. As a direct consequence of the now good to excellent availability
of CAD component data, the genuine project work in 3D engineering takes less time.
With staff able to coordinate efficiently and at short notice in web conferences,
digitalization in mechanical engineering expedites project work, often for several
projects at once. Such advantages provide prime examples of the excellent impact
digitalization has on engineering, categorically with requisites profiles for engineers’
work transmuting and concrete soft skills gaining in consequentiality.
Q. What processes have you helped develop or singularly created that enhanced engineering
performance capabilities?
1. Identify tier base engineering transactions
2. Set KPI’s & monitoring
3. Reduce no of transactions
4. Test & Analyze
5. Ensure Reproducibility & Results
6. Ramp up load time to time
7. Visual Controls
8. KPI trends and new benchmarks
9. IoT & manufacturing & customer connectivity and machine & man connectivity
10. Continual improvements
Q. How the collaboration with Financial Institutions and Enterprises will fuel the growth
of DuChange ABC Pvt Ltd.?
In recent years, "new markets," for stocks of young and growing companies, have
become a growing market segment in the Indian Market. Equity financing is particularly
advantageous for these companies and their investors, given the uncertainties of the
economic return. As the term "shares" suggests, with equity financing, you get your
share of the outcome, whether positive or negative. On the other hand, banks may be
reluctant to provide loans due to the risk profile of these firms and the greater
exposure to a negative result in a loan contract. The banking sector also has an
essential role in allocating funds to the most profitable investment opportunities. Banks
are financial intermediaries that by nature add cost to the allocation of capital. Thus in
order for banks to survive in a market economy, they need to provide added benefits. It
is difficult to compete with the debt securities market if a bank loan is of a size where
the fixed costs of accessing debt markets become negligible.
Q. What is your strategy to reach new enterprises and new customers?
1. DIGITAL MARKETING
2. NETWORKS & COLLABORATION
3. SPECIAL DISCOUNTS
4. SPECIAL SERVICES
5. Developing Business Partnerships
6. PROMOTE EXPETISE
7. ON LINE REVIEWS
Q. What are your upcoming projects?
In the first phase, we support four customers, which approximately constitutes 500
employees. In the second phase, we will be supporting another four organizations. Our
goal for this FY is to support 10 organizations to start journey to transform to triple
turnovers.