I believe #Demonetisation is good. But terribly executed.
Mahesh Murthy
Marketing guy. Venture & Startup Investor. What can I help you build, launch and grow?
So why was it so badly executed?
I believe that's because Narendra Modi has no trusted senior and middle management team to help and advise him. If you're the CEO, you just can't take a decision alone in secrecy without planning and feedback in advance from people who will know better, and then just announce it and hope that it works out overnight for 1.25 billion people that you lead.
I believe it could have been much, much better executed.
If you always knew how many bank notes you'd mop up - that amount is common knowledge anyway - you'd have printed enough new ones and kept them ready for the machines and the banks.
You could have done this without warning anybody. And you could have done so in the right sizes too. Did someone at the RBI not know that you need to recalibrate ATMs when you change the size and thickness of banknotes? Were they even asked? Did they have the courage to respond? Was the response overlooked in deference to the desires of the Great Leader?
Oh, and you wouldn't keep announcing new policies and fixes and rollbacks every day, while at the same time insisting that all is well, it was all perfectly planned.
The problem is that either nobody in the team was asked their opinion on how to execute this change - or if they were asked, the team just said "Yes Sir, Yes Sir, three bags full sir."
There's good intention, for sure. But also extraordinary arrogance. And a lack of both humility and a finger on the pulse of the country, to not be able to come out and say "Hey, I'm sorry, we goofed up in a few things, but we're setting it right."
To all to this, add a bureaucracy and council of ministers that was apparently chosen for competence but seems to have been turned into a servile and impotent bunch of onlookers. Who are there simply because they're loyal and they can either keep their mouths shut, or because they can mouth inanities in support. Or bring out silly comparisons to how we should be happy keeping days of vigil at our ATMs for our cash because, you know, our jawans at the border are doing the same against the jihadis.
Good intentions badly executed can lose the country.
It's lost companies for CEOs before, for sure.
NLS Consulting
8 年I think the biggest mistake Modi made was to bother with the 2,000 rupee note. Things would have gone a lot more painlessly if they had just concentrated on printing a whole lot of 100 and 500 rupee notes with the new security measures before the official announcement. If anyone noticed that a large amount of these notes were being printed all he would have to say is that new notes with new security measures were going to be brought into circulation. This would not have required revealing demonitisation to anyone. he could have also had a fair amount of the new notes printed abroad as has been done in the past. I completely agree with Modi that secrecy and surprise was necessary but so is the need to ensure that people can easily change their money and continue living their lives without total disruption.
Solving for women ??
8 年InTM. Don't roam for cash. Nearby ATMs, cash status, queue status and real time updates. Download now from Play Store https://goo.gl/2Pucd6
Learning Solutions Architect at Hewlett Packard Enterprise
8 年Sorry, but I do not agree with your first line statement itself. I wonder what's there to be secretive or having a trust quotient in printing more currency notes of 100 Rupees and making them Largely/widely available through the ATMs. It's just sheer stupidity and grave irresponsibility on part of the PM and the FM that have caused so many innocent people to lose their lives. It's the PM and FM who are partners in this crime and should be held responsible by the Supreme Court. Talking about the SC... even they have been postponing the hearing of 200 odd cases against demonetization. Its a matter of serious concern that the highest court of India has postponed the hearing on such a sensitive issue for not just once or twice, but three times in succession, and no media channel, neither any TV channel or any newspaper (except The Hindu) has covered this news. If the FM has the balls, he should go out in a crowded market outside any ATM that has a long queue and face the public without any security personnel.
Lead Project Manager at BT
8 年Discontent is also as they think if this was single shot dose that will eradicate Black money from system completely , Modiji or RBI never said this was going to be last shot on Black money.
Clinical laboratory medicine consultant and expert, educator with a passion for training, mentor
8 年No doubt about that