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Business, Explained By Father To Son.

Discussion in 'Snippets of Life (Non-Fiction)' started by HariLakhera, Jul 28, 2024.

  1. HariLakhera

    HariLakhera IL Hall of Fame

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    Business, explained by father to son.

    (Do not take it as a joke, it is the reality-(courtesy a friend )

    I go to work, and at the end of the month give money to your mother to run the house. Thus I am capital and she is management. The maid is the labour. Your little brother is the future.

    On hearing the child cry at night, the boy woke up and found that the child was wet. He went upstairs and found the mother sleeping and the father exploiting the maid.

    The boy came down and said to the child-

    'This is a Big Business! Management is sleeping, Capital is exploiting the Labour and the future stinks'
     
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  2. Thyagarajan

    Thyagarajan IL Hall of Fame

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    This also reminds me of Harvard return son as preceptor teaching his already successful dad about doing vada business . Story in link
    Thava, Vada & Harvard
     
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  3. HariLakhera

    HariLakhera IL Hall of Fame

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    after reading this vada story here is my take-

    That is why Hard Work is needed even when Harward returns.
    It reminds me of the advent of logistics. We were supplying nuts and bolts to Maruti. They used to keep inventory for a week and we were expected to make sure of timely delivery. Maybe some Harward return joined them and advised to transfer the burden of inventory on the suppliers. All vendors were asked to supply on time at the designated spot of assembly on one-day notice. There were many models they were producing and each varying according to demand. Difficult bit not impossible.
    The logistics companies flourished. They agreed to keep stocks in their godowns and deliver as required.
    The burden of inventory was shifted on the suppliers.
     
  4. Balajee

    Balajee IL Hall of Fame

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    Jokes always have a grain of truth in them, often bitter truth. The point about future is absolutwly true.
     
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  5. Thyagarajan

    Thyagarajan IL Hall of Fame

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    a defence supplier against a contract for 4 lakh sets of nut + bolt supplied all nuts and no payment made as rate is per set of nut and bolt. As a special case the inventor accepted nuts in his ware house but no payment . Then the manufacturer ould not produce the bolt due to floods . He invoked the FM Clause of the contract for non supply of bolts and informed defence authorities that part of contract for supply of bolts is frustrated and demanded payment 50 % of contract value . The case went to arbitration and I was a novice in these matters eagerly watching the arguments between the learned advocates from either side. The hearing was adjourned for another day and later I do not know what happened eventually and what was the award as I was promoted and posted to another city.
     
  6. HariLakhera

    HariLakhera IL Hall of Fame

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    Interesting. If the order was for sets of nuts and bolts, then it will be treated as completed after receipt of bolts and still may not be paid till the supplier arranges to fit the nuts with the bolts to make sets.

    In yet another case, our Technical collaborators from the USA deputed their trusted man to run the company as its CEO and he made a mess of everything. In America, quantity matters. So, he asked the production to produce each item in bulk based on the annual demand to reduce the cost of manufacturing. We were manufacturing about 3000 types of nuts and bolts. In just about two months, we produced only 100 items. As a result, many items went into short supply thus giving competitors a leeway and in some items we overstocked. The fellow was called back but ti took us a long time to make the position sense.
     
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  7. Thyagarajan

    Thyagarajan IL Hall of Fame

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    Interesting addendum to your previous jottings here. Justintime concept good only in certain areas and it is a failure if out iof many one component doesn’t arrive or supplied in time, the entire assembly or subassembly come to a standstill. For about a fortnight steering wheel for jeeps not supplied by vendor. At 40 per dau around 600 jeeps parked in open andcompany defaulted supply to defence army jeeps. For want of storage space the production come to a halt for a fortnight compelling lay off.
    When dosa is ordered we at the table used to hear the sound of water sprinkled on already hot tava leading us to imagine fresh dough is being poured on to tava and we would get warm crisp dosa. We thought the dish is just made. But dosas already made and stacked to a height of one foot or two feet. It is just made warmer on hot plate before brought to our table. This is india rural village home restaurants near popular temples of historical importance!
     
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