The Real Transformative Turnaround: A Case Study in Business Transformation Strategy


It was in the beginning of 1994 that the senior executives at Mahindra & Mahindra (M&M), Nasik unit, Maharashtra, started to hear a near-whispering news about a major change of guard at the top level of the organization, which would mean to many almost a radical change in the styles of management, especially since there was no one being recruited from outside; but persons known to all from the same group were shifting over to new assignments across the group’s companies. This was supposed to be the first major restructuring exercise for the M&M group over a very long period of time. This whisper got louder and stronger day by day, and in May 1994, ...

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