LESSONS THAT PHARMACEUTICAL INDUSTRY CAN LEARN FROM THE JET AIRWAYS BUSINESS CRASH

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THE LESSONS WE CAN LEARN FROM THE JET AIRWAYS AIR CRASH

  1. If you are at the top, doesn’t mean you will continue to remain at the top! Innovate and grow.
  2. Be focused on what you do. With the acquisition of Sahara Airways Jet Airways lost direction. Did not know whether to remain a full-service airline or a low-cost carrier. Jet Konnect, Jet Lite Jet Airways! And then merging Jet Konnect and Jet Lite. Total confusion.
  3. The owner should know when to quit. Ego ruins an individual. Had Naresh Goyal quit when Tata’s showed interest, this calamity may never have happened. Tata Sons, the only suitor with a comprehensive offer for Jet, walked off never to return.
  4. Learn new skills and make yourself employable in other industries. Self-mentorship is the answer when your company does not believe in, or does not invest in training. 23000 employees are now struggling for a job – includes pilots.
  5. Deferring salaries is the first sign of a crisis! Read between the lines and take appropriate steps to safeguard yourself.
  6. Entrepreneurs should have a vision not only for the organization but also for the employees working in the organization.
  7. A regular Brand Audit of your firm is required. Naresh Goyal failed to do so. (A wakeup call for the #1 pharma firm in India).
Vivek Hattangadi
Chief Mentor at ‘The Enablers’

Disclaimer: All views & opinions expressed in this video & Blog are personal views & opinions of speaker. This is a non-promotional talk on a recent happening of Jet Airways & created as a case study for the learning purpose for Pharma Professionals.

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This is a platform for people working in the pharmaceuticals industry for Discussions, Jobs, News updates, Professional Profile display space and company business pages. PharmaState DNA is having four pillars: Quality, Transparency, Innovation & Benchmarks.

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