Mayank Pareek won’t forget the crisis of 2008 in a hurry. In November that year, less than two months after the infamous Lehman Brothers crash, India’s biggest passenger car maker, Maruti Suzuki, felt its blow straight in the jaw. By the end of that month, it suddenly lost a quarter of its sales compared to the previous year. December was no better. Sales fell by another 10 percent.
By then, analysts were already predicting the end of the world. What’s more, no one inside the company had witnessed a slowdown of this kind. What saved the day was that the senior team got on top of the situation with alacrity. “The slowdown forced us to do a lot of things differently that we hadn’t done earlier,” admits Pareek, executive director and one of the senior-most Indian executives at the Japanese multinational.
(This story appears in the 17 February, 2012 issue of Forbes India. To visit our Archives, click here.)
Reduction in ULIP sales is not due to IRDA regulation, but people realized how evil these are for consumers(not company). MAX didn't let off people., every year some thousands of MBA's who doesn't have any menaingful job gets into this insurance distribution business and voluntarily leaves this when find an other meaningful job
on Feb 28, 2012GVK strategy of slowing down on new projects and focusing on project completion and cash flow may not be right. Unless you ensure balance between these two subjects it will reflect on future cash flows and wealth creation. Focus on recruitment too need to be cautious as you may end up hiring those dead woods from else where.
on Feb 20, 2012