V. Krishnamurthy’s work not only benefited the companies he headed, but also changed India irrevocably for the better.
At the Helm: A Memoir
V. Krishnamurthy
Publisher: Collins Business
Pages: 305; Price: Rs 599
The author of this memoir steered three major organizations BHEL, Maruti and Sail. He held several coveted positions like membership of the Planning Commission and served in the Ministry of Industry. He was conferred the Padma Vibhushan and the highest civilian award of Japan. Business India selected him as “Businessman of Year Award” in 1987.
This memoir gives a detailed account of the life and career of V. Krishnamurthy, a man with minimum formal education who began as a trainee engineer in the Madras Electricity Board in 1945 and rose to become one of the most important members of the Planning Commission of India. After his formal technical education was completed in 1944, he joined Madras Electricity Board (MEB). A short stint at MEB was followed by his joining the PThis book is the story of how a boy from the temple town of Karuveli in Tamil Nadu starts out as a technician at airfields during the Second World War and goes on to script the biggest success stories of young India’s fledgling public sector.
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In 1960, he became part of the Hindustan Electricals (India) Limited (HE(I),L), which eventually became BHEL. He became the head of the Trichy unit in 1967. This was the era when it was thought that there was no talent in India to manage large public sector units and also that the PSUs were not economically viable.
The author, however, strongly believed that since PSUs were owned by the government, they ought to succeed in the purpose for which they were created. This was the formative age for Krishnamurthy and he crystallised his thoughts on management and formalized while working for HE(I)L by observing his superiors.
By the 1960s, public sector units (PSUs) had not covered themselves with glory. Madras Fertilizers, which was setting up a factory then, wanted to import a boiler. Krishnamurthy, who was General Manager at Bharat Heavy Electrical Ltd’s (BHEL) Trichy unit, offered to make and supply it. But no one believed a PSU could do so.
The matter reached the Union Cabinet and Morarji Desai – then deputy prime minister and finance minister-mocked Krishnamurthy, saying the public sector had never delivered anything on time. He finally relented only after Krishnamurthy staked his job on the timely delivery of the boiler. The boiler was delivered on time and Krishnamurthy retained his job, but more importantly, his success went a long way in proving that even PSUs could deliver.
His success at Maruti Udyog Ltd proved that India too could produce quality cars. It transformed the country’s automotive sector – once they got the chance, global car makers streamed into the country to benefit from the base created by him.
At Maruti, he convinced the government to allow foreign equity participation (in 1982!) though on a selective basis. This was, surely, the beginning of India’s economic liberalisation. He evolved a distinctive ‘Maruti culture’ that encompassed discipline, punctuality, productivity, cost and quality consciousness.
His seven-year legal struggle to clear his name from unsubstantiated charges/allegations against him, and his contributions, for over eight years find a place in the narration.
In each of his three public sector assignments, he was put in a challenging situation. In the case of BHEL he had to save the company from disintegration. In Maruti Udyog he was given the responsibility of not just manufacturing a car but of modernizing the automobile industry itself. SAIL was almost a sunset company and he put it back in an exalted position. He had adopted Five Principles to ensure success. These are 1.Give importance to people and treat them with dignity 2.Constant communication with stakeholders. 3. Create awareness of productivity and quality, 4. Develop a marketing and customer culture and 5.Constant up-gradation of technological status of the company.
His work not only benefited the companies he headed, but also changed India irrevocably for the better. The panel of “Business India” which chose Krishnamurthy as Businessman of the year 1987 wrote, “Krishnamurthy’s leadership has shown that he can achieve stupendous tasks, if for any reason at all he fails, virtually the entire public sector will have to be written off for the next twenty years”. No wonder he declared, “As I look back on my life and career, I cannot help but feel that it has been a life well spent.”
Memoirs of administrators are few in India and this is among the best to be written. All administrators, students of business and commerce must read this valuable guide to administration.
P.P. Ramachandran
