It was a highly anticipated moment when we got to know that Mr. M.M Murugappan would be addressing us. It wasn’t necessarily a speech or talk, rather it was more like an open house which focused on the topic “Creating value comprehensively for all stake holders”. To start with, stake holder was a very interesting term to use- which means basically everyone who is directly or indirectly involved with the business. Business is said to involve a group of people who serve customers. Our society constitutes the people who work around us, who contribute to our day to day living and in turn create value for us.
The student fraternity of CBS was briefed about the various businesses that the Murugappa group has under its sleeve, and is looking to move ahead in taking India global. CUMI is one prime example of this. CUMI is focused to make industrial consumerables which focuses on ceramic for industrial applications. When asked about how easy or difficult it was to do business in Russia, Mr. Murugappan said that it was a challenge. However, the Murugappa group decided to retain the Russian management there. And also to add to it, the Indian staff that was positioned onsite at Russia performed far better and got accustomed to the culture, climate, food and people faster than expected.
Mr. Murugappan also threw light on what he thought were the key success factors in any form of business. They are: Passion, Quality, Respect, Responsibility and Integrity. Keeping these five factors tightly coupled and as important drivers, one could establish considerable credibility and success. And not to mention- ‘Good work always gets recognition’- was more like the icing on the cake.
Contributed by Vivek A – International Management Varsity (V Batch 2010-11)