Since the manager had suspected that one of her customers was having financial troubles at that point in time. She should definitely have reported this matter to her superior. Through the right channel, the problem could have been tackled effectively and the default of the customer could have been avoided. All of this led to the loss of the firm. As we live in an India where already several of the big players have defaulted on their bank loans and the size of NPA (non-performing assets) is becoming bigger than ever, the concealing of such sensitive matter should have been avoided.
What went wrong?
The customer, with his poor financial health, must have been trying to work in the market and continuing trade. But since his financial health wasn’t improving, all his dues got accumulated with time and through the employee’s negligence of not reporting the matter to the organization. This resulted in a big chunk of payables on the customer, which, after a particular point, was beyond his capacity to repay.
How would I tackle the problem?
It is my duty to think in favor of the organization first. As a regional sales manager, I would have reported the matter to my superior. Further, through right channels, I would have tried to gain the insight on the financial health of the customer and attempted to first clear all the dues (of the company) pending from the customer’s side. The new orders would then be issued on non-credit payment terms for some time near future till the financial health of the customer is improved.
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