It's a story of one hand of
the government doing one thing and another undoing the same. After pumping in
Rs 1,000 crore in Fertilizers & Chemicals Travancore Ltd (FACT) for which
an announcement was made on March 03, 2016, the government possibly never
thought it necessary to man the top management team. So, the public-sector company
has come to a situation where of its four Board-level positions including that of
CMD, all but one post of Director (Finance) who, too, would retire in May 2019,
are vacant. Adding to the tragedy of the
company when the PESB had, on 18 Dec 2018, held a selection meeting, none of
the shortlisted candidates appeared for the interview. Faced with a depleted
management team, the company stumbles along a risky path. Neither has it been
able to maximize its production output nor has it been able to restore itself
to health. This has impacted the company-produced NPK availability in the southern
market. The irony is that the
financial package of Rs 1,000 crore which was expected to help about 2,740
employees (direct and indirect) of FACT and another 30,000 families of
dealers, as well as lakhs of farmers, has come to a nought. Indeed, the revival of FACT
faces a big question mark. This appears to be a living example of the management principles which suggest that resources are important but resource management capability is equally important. Here, in FACT, management strength is completely depleted. 
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FACT in doldrums: Crisis of resource mobilisation
By IndianMandarins - 2018-12-19 10:20:51
It's a story of one hand of
the government doing one thing and another undoing the same. After pumping in
Rs 1,000 crore in Fertilizers & Chemicals Travancore Ltd (FACT) for which
an announcement was made on March 03, 2016, the government possibly never
thought it necessary to man the top management team.
So, the public-sector company has come to a situation where of its four Board-level positions including that of CMD, all but one post of Director (Finance) who, too, would retire in May 2019, are vacant.
Adding to the tragedy of the company when the PESB had, on 18 Dec 2018, held a selection meeting, none of the shortlisted candidates appeared for the interview.
Faced with a depleted management team, the company stumbles along a risky path. Neither has it been able to maximize its production output nor has it been able to restore itself to health. This has impacted the company-produced NPK availability in the southern market.
The irony is that the financial package of Rs 1,000 crore which was expected to help about 2,740 employees (direct and indirect) of FACT and another 30,000 families of dealers, as well as lakhs of farmers, has come to a nought.
Indeed, the revival of FACT faces a big question mark. This appears to be a living example of the management principles which suggest that resources are important but resource management capability is equally important. Here, in FACT, management strength is completely depleted.
