Mahindra and Mahindra: Developing Competencies for Going Global in 2005
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Case Details:
Case Code : BSTA115
Case Length : 17 Pages
Period : 2000 - 2004
Organization : Mahindra and Mahindra (M&M)
Pub Date : 2005
Teaching Note :Not Available
Countries : India
Industry : Automotive
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"And when Indian companies do set sail to conquer foreign
lands, they will be the fastest among all the companies from emerging markets to
learn the art of global branding."
- Anand Mahindra, vice chairman and managing director M&M1.
Introduction
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It was in early 2004 that Anand Mahindra (Anand), vice chairman and managing director Mahindra & Mahindra (M&M), heard Kenneth Ramsay (owner of Angus Valley Farm Supply in the town of Elm Mott in Texas USA - population 200), rave about his Mahindra tractor - the brand he and his townsfolk preferred to well known US tractor brands like John Deere and New Holland. Anand realized that M&M had a real opportunity to become a
'truly global' brand.
M&M's globalization plans had to be seen in the context of the several restructuring exercises undertaken by the company in the past few years, which had substantially increased the company's profitability and productivity. This was in line with Anand's philosophy on globalization.
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Anand once remarked2, "If you start fantasizing about building a global brand before you have the opportunity to build a global company
- and the necessity to do it-that's like the tail wagging the dog."
M&M had posted excellent results for the year ended 31st March 2004. Gross sales from operations at Rs 5,914 crore was up by 31.5%, while profit after tax (PAT) at Rs 348.5 crore was up by 139%, from that posted in 2002-03.
M&M had successfully made a $100 million foreign currency convertible bond (FCCB) issue in 2004, despite the post-elections market uncertainty in mid-2004. The company had put aside Rs 1,000 crore for domestic and overseas acquisitions. The Scorpio, M&M's indigenously developed sports utility vehicle (SUV), had become the new public face of the company and significantly transformed the company's stolid image...
Excerpts >>
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