The strength of the industrial sector, by and large, determines the dependability of the economy. A very worrying characteristic of the industrial situation is the rising occurrence of industrial sickness. It is a substance of deep anxiety not only for shareholders and creditors of the sick concerns but also to the society at large. Competition breeds competence but unfavourably affects weak industrial units and makes them sick.
Here point out some recommendations to remove the limitations of industrial sickness. These are as follows:
- Modem production system;
- Supply of capital;
- Education system;
- Supply of raw materials;
- Developed communications system;
- Structural change of product;
- Reducing competition of large-scale industry;
- Wider publicity (exhibition/trade fair etc.);
- Training system;
- Government patronization;
- Creation of a new market;
- Preservation policy.
So, these are the various recommendations for removing the limitations of industrial sickness. The internal factors which contribute to sickness are wrong planning in relation to location, technology, capital cost, technological obsolescence, management deficiencies and industrial unrest. It is an umbrella term applied to different things linked with industry that make people ill and cause them to miss work. It is serious problems which affect all types of business units like small, medium and large scale companies in both the public and private sectors.
