Daijiworld Media Network - Mangalore (SP)

Mangalore, Jul 12: Kanara Chamber of Commerce and Industry (KCCI) has expressed its eagerness to reach an understanding with Mangalore University Commerce Teachers Association (MUCTA), for the revival of sick industries in the region. KCCI has asked the association to formulate modalities for the memorandum of understanding it wants to enter into with the MUCTA.

Kumble Narasimha Prabhu, president of KCCI, speaking after releasing a book titled 'Fundamentals of Financial Management' authored by B V Raghunandan, lecturer of Bantwal SVS College, made this officer. Prabhu expressed the opinion that improper financial discipline was the major culprit for the industries turning sick over years.  Students pursuing commerce and business management degrees can study through projects, the reasons for this phenomenon through thorough studies and projects. They can zero in on the actual problems these industries ail from and suggest ways and means to wriggle out of them, Prabhu opined.

Noting the increasing trend of the students coming out of IITs and IIMs resorting to start their own enterprises instead of seeking highly paid jobs, Prabhu cautioned that resting their hopes solely on the knowledge acquired in colleges without being conversant with basics of commerce and financial management will not bring any fruits, as seen in several cases in the past. He supported a suggestion given by Raghunandan about the need to conduct a thorough study on the issue of causes behind the proliferation of sickness in industries.

Prabhu commended the efforts of Raghunandan in simplifying complex subjects like private equity funding through his book, for the benefot of students. Books like these enable students to have newer and better ideas in this field and become successful in their respective fields after they complete their education, he felt.

Raghunandan felt, that a memorandum of understanding if agreed between the governing body of the commerce and industry and the association of teachers, would pave way for mutual interaction on issues bothering industries including sickness, and help students to conduct case studies and suggest means to revive such industries.