Turnaround Specialist of PSUs: Dr. P. D. Shenoy
June 30, 2016
Former IAS officer Dr. P. D. Shenoy who had been popularly known as turnaround specialist of public sector units (PSUs) spoke recently to the students and faculty member of the School of Management of Manipal on how he had turned around the fortunes of the Karnataka State Road Transport Corporation (KSRTC), which had made losses continuously for 13 years until he became its Managing Director and in that year the corporation made profit. “I had focused on the cost effective management of four M’s: Manpower, Money, Machine, and Materials,” he said. Further, he explained how he had used the “carrot and stick approach” to stop pilferage and to encourage employees who were honest and dedicated. He made hard bargain with TATA and Leyland, the suppliers of bus chassis, in reducing the prices for the chassis and with the Indian Oil Corporation, the supplier of diesel in obtaining 90-day credit, which was not given earlier. Many such measures in effective management of resources resulted in the corporation earning profit in the year of his management. However, he said he was shunted out to yet another PSU due to a political reason. Dr. Raveendranath Nayak, Director of the School of Management welcomed the guest speaker and presented him a memento.
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