A lot changed with takeover by a private entity, in this case Reliance. A
leviathan organization like IPCL does not change in a day. However,
privatization did bring with it many changes. Liberalization had opened the
import of Petrochemicals in India and as a result there was stiff competition
of cheaper imports. Performance management became target driven linked
to task achievements and accountability. Benefits were monetized.
Management control became much more focused.
Clubbed with the changes of ownership and with
that the increased focus on target driven
performance, was the advent of technology and
the way work was done. In 1991-92, there were
barely a handful of Computer machines. By 1995-
96, computerization had changed the way work
was done. Financial integration was the easier
part. Cultural integrations was what needed a
more focused attention. The gradual process of
takeover, the directive of not laying off any
existing resources or changing salary and benefit
policies for a defined period helped in smoother
integration.
n:gage | August 2017