Mallika Srinivasan

Osmania Degree Sem 3

Unit 1 - Prose

Mallika Srinivasan 

1. Write a note on the various efforts made by Mallika Srinivasan to help TAFE become a market leader. 

2.What setbacks did Mallika Srinivasan face in her personal life? What is inspirational about her response to these setbacks?

3. Draw a character sketch of Mallika Srinivasan on the basis of this biography.

Summary

Mallika Srinivasan is the chief executive officer (C.E.O.) of Tractors and Farm Equipment (TAFE). She received 'the first Businesswoman of the Year Award for India from the BBC; a Businesswoman of the Year Award from the Economic Times; and Entrepreneur of the Year in the field of manufacturing from Ernst & Young. The media referred to her as 'Tractor Queen' because of her success in the tractor industry.

           She was born in 1959 in Chennai. As the daughter of an industrialist, she has learnt business skills since her childhood from her father.  Her father had suggested she pursue a course in literature, but she studied an MA in econometrics from Madras University. She married Venu Srinivasan, chairman of the TVS Motor Cycles company. Mallika finished her MBA at the Wharton School of the University of Pennsylvania, USA. Her mother accompanied her to America to look after Mallika's baby. 

       She joined TAFE, her father's high-profile company, in 1986. She expected a grand welcome at the company but was disappointed when she discovered that the office her father allotted for her was a partitioned-off in the corridor. Though her father had no degrees, he developed and expanded the company. He didn't believe in foreign degrees, and he reminded her of this fact.Later on 

TEXT

Mallika Srinivasan is an Indian industrialist who currently acts as the chief executive officer of Tractors and Farm Equipment (TAFE). She is the recipient of several illustrious awards, including the first Businesswoman of the Year Award for India, which she received from the BBC; Businesswoman of the Year Award, which was given to her by the Economic Times; and Entrepreneur of the Year in the field of manufacturing, from Ernst & Young. She has been given the title of 'Tractor Queen' by many members of the media for her success in the tractor industry. The media has also ranked her as one of India's most powerful businesswomen.

Born on 19 November 1959 in Chennai, Mallika Srinivasan grew up listening to her father discussing business with the family at the dinner table. Her father's attitude to business taught Mallika a lot, shaping her into the industrialist she became. In school, she performed well, showing a keen understanding of business and economic principles. Her father had suggested that she study literature, but she disregarded his advice. She pursued an MA in econometrics from Madras University instead. During that period, she also got married to Venu Srinivasan, chairman of the motorcycle manufacturer TVS Motor Com- pany. However, Mallika was not content with an idle life. She decided to study abroad to further enhance her skills.

Mallika decided to do her MBA at the Wharton School of the University of Pennsyl- vania. It was a significant decision, considering she had an infant daughter to take care of. Her mother supported her decision-accompanying her to America, so that she could babysit the little girl while Mallika attended classes. Her mother's help allowed her to complete her MBA. She returned with high hopes of helping in the management of the family business.

'Listen young lady, you might be a Wharton graduate, but I don't need one to run my business. These were her father's words. She had joined TAFE, one of her father's high-profile companies, in 1986. Though her father had encouraged her to join the flag- ship company, he made it clear that she would have to earn her keep. She had anticipated a grand acknowledgement of her joining the company, but was disappointed when she arrived and discovered that the office her father had set aside for her was a partitioned-off end of a corridor. She had no window and no doors. Mallika simmered with a sense of injustice. She marched into her father's office to express her discontent, only to be told the above words by her father. It seemed as though she had run into a dead end. Her father explained that he had managed the company and seen it expand since his father founded the company, and he had done all this without a degree. Her studies in Wharton did noti mpress him or his employees, and he did not fail to remind her of this fact.

Disillusioned, but by no means disheartened, Mallika Srinivasan continued to work in the family business. She learned lessons from more senior and more experienced col- leagues, picking up several tricks of the trade. The colleagues did not pussyfoot around her because they had known her since she was a little girl. The sincerity and honesty woh which they treated her and talked to her allowed her to recognise mistakes the was mat ing, and to appreciate the position she was in. She began to put her knowledge to good us as the company began to grow. She did not resent her father for his strong worde Rather, she used them as a source of inspiration, egging her on to outstrip her father's wildest expectations.

As time passed, her responsibilities increased and her father showed more and more trust in her abilities. She began to make TAFE a modern technology oriented company. making it the number one choice for farmers. In 1960, when TAFE was founded, the company's quota was 7000 tractors a year. In 2012, the company was capable of making that same number in fifteen days. TAFE turnover, when she joined in 1986, was Re B crores. By 2010, the turnover had risen to Rs 5800 crores. And Mallika was responsible for a major percentage of that amount, securing deals and making critical decisions with big payoffs. One such deal was the acquisition of Eicher Motors in 2005, which thrust TAFE into the number two spot in the country.

Even during times of economic downturn, Srinivasan made decisions that were ben- eficial to the company. When sales began falling, she insisted the company prioritise re search and development, so that when the market recovered, new models could roll out and challenge their competitors' products. It was a successful initiative leading to TAFE recording a profit that year when most companies could not. Srinivasan also saw to it that exports became a key part of TAFE's new strategy. She set up a manufacturing plant in Turkey in 2010 to increase TAFE's market and customers, and began making plans to supply to Africa as well, thus taking the company onto the global platform. She also saw to it that TAPE strengthened its tie-up with AGCO Corporation, a Georgia-based farm equipment maker, for distribution in the US. It was no surprise that in 2012 she won a leadership award for designing and developing farm equipment relevant to Indian farm ers, and for taking TAFE all the way to the top.

However, Mallika did experience major trials during the company's explosive growth. In the late 2000s her father passed away. Her father had been her anchor and her rock. nudging her in the right direction and always available to bestow advice and constructive criticism. Indeed, it was his words that had always motivated her to push TAFE to become a major player in the tractor industry. Months after her father's death, her sister passed away. Even with two major losses within her family, she still was able to steer the company without letting her personal grief overwhelm her professional responsibilities. In 2008, her mother passed away. Mallika Srinivasan had lost the family she had grown up with

And yet she managed anyway, taking over the burden of the family business with dignity and grace. The way in which she managed the company during that period was a source of inspiration for many of her employees.

GLOSSARY

illustrious:- well known; respected; eminent; admired for past achievements

Entrepreneur:- a person who sets up a business, taking on financial risks in the hope of profit. 

econometrics :-the branch of economics concerned with the use of mathematical methods (especially statistics) in describing economic systems. 

infant:- a very young child or baby

babysit:- to look after a child or children while the parents are out

flagship:- the best or most important thing owned or produced by an organisation

acknowledgement :-recognition of the importance or quality of something

simmer:-to feel barely suppressed anger or other strong emotion

disillusioned:- disappointed in someone or something that one discovers to be less good than one had believed

disheartened :-having lost determination or confidence; dispirited

Pick up :-to obtain, acquire, or learn something .

pussyfoot:- to act in a cautious or non-committal way

resent:- to feel bitterness or indignation at someone or something

quota :share; portion

acquisition:-acquiring possession of something

payoff-income; compensation; profit

downturn-a decline in economic, business, or other activity

roll out-to officially launch or introduce a new product or service

trial-a difficult experience or situation that tests a person's endurance or ability

anchor-a source of support and stability

nudge-  to gently or gradually push into action

overwhelm- to have a strong emotional effect on someone or something