HDFC, Lamp;T get Bajaj Quality Awards

MUMBAI, FEB 24: India is not lacking in resources for development of quality in business. What is needed is a re-evaluation of business behaviour and development of proper values, emotions and beliefs, according to West Bengal governor Viren J Shah. Addressing the Indian Merchants Chamber at the presentation of the IMC Ramakrishna Bajaj National Quality Award, he said this attitudinal revolution would bring tangible benefits like satisfied customers and productive employees.

The global internet customer not only demanded low prices but high quality. The industrial and service sectors also contributed significantly to the GDP and they had to survive in the internet economy, he said. The IMC Ramakrishna Bajaj National Quality Award was won by HDFC and the IMC Juran Quality Medal by Chandra Mohan, former managing director of Swaraj Punjab Tractors. Lamp;T EPC projects group won the certificate of merit in the service category and HLL Nagpur and Rajashree Cement won the certificate of merit in the manufacturing category.

In his acceptance speech, HDFC chairman Deepak Parekh said the only competitive advantage a company of the future would have was the ability to learn faster than its competitors. quot;Learning is th only infinitely renewable resource. No one can purchase, duplicate or reverse-engineer an organisation8217;s ability to learn,quot; he added.

He said the challenge was to anticipate and adapt to fast-changing markets and customer needs. The flexibility and speed of meeting customer needs against competitive pressure is what makes the difference, he felt.