In this article, the need of the hour of the handloom industry is analysed in the perspective of 'SWOT ANALYSIS', which is one of the problem solving techniques followed in the Total Quality Management (TQM). The 3P-strategies like Product diversification, Process modernisation and Personal skill upgradation are evolved from the analysis. Further, how these strategies are used to uplift the socio- economic enlistment of the handloom weavers are enlightened.
For the economic survival or the success (Paisa / Money) of any industry, it is necessary to critically analyse the "3P" or "3M", which are known as PROCESS -METHOD, PERSON- MAN, and PRODUCT-MATERIAL.
For any industry to survive with considerable profit-paisa, the products produced must satisfy the need of the customers, for which the industry has to keep the machines and the methods updated to produce the desired products and also have to develop the personnel skills of the persons to know about the machines and methods thoroughly to produce the desired products. The products produced thus, will fetch demand in the market and in turn yield required 'Paisa' to the producer.
R.G. Panneerselvam is Deputy Director at Weavers Service Centre, Kancheepuram, (TN) and Dr. L.Rathakrishnan is Professor, RIM at Gandhigram Rural Institute, Gandhigram(TN)