From the early industrial innovators such as Thomas Edison and Henry Ford to contemporary trailblazers like Steve Jobs, Elon Musk, and numerous emerging business leaders, each has etched their legacy into history through ingenuity, determination, and the ability to spot opportunities where others see challenges. Their paths serve as a reminder that success is not achieved in an instant; it is forged through years of dedication, setbacks, and ongoing education.

In the modern era, entrepreneurship has evolved beyond simply starting businesses; it has transformed into a way of thinking.  Through his principle of 'Emphasizing Quality Over Quantity,’ Anand Mahindra, the Chairman of the Mahindra Group, Mahindra & Mahindra Limited, and Tech Mahindra Limited, has written a new chapter in the annals of entrepreneurship.

Early Life

Anand Mahindra was born in Mumbai in 1955 and is part of a prominent industrialist family. He is the son of Harish and Indira Mahindra, and his grandfather, Jagdish Mahindra, co-founded the Mahindra and Mahindra (M&M) company. He completed his early education at Lawrence School in Lovedale. He subsequently pursued studies in filmmaking and architecture, although those fields didn't resonate with him. Ultimately, he earned his MBA from Harvard Business School in 1981. He began his professional journey as an Executive Assistant in Finance at Mahindra Ugine Steel Company Ltd (MUSCO) shortly after finishing his MBA. After eight years, he was elevated to the role of President and Deputy Managing Director, where he spearheaded diversification into new areas, including real estate development and hospitality management.

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The Inception of M&M 

Originally, the company was named Muhammad and Mahindra, focusing on steel trading since 1945. Following India's independence, their associate Muhammad moved to Pakistan, where he later became the first Finance Minister. Subsequently, Harikrishan and Jayakrishan Mahindra changed the name to Mahindra and Mahindra. They swiftly took advantage of the opportunity to manufacture Jeeps for World War II, establishing M&M as India's leading Jeep manufacturer. The company witnessed a fresh start on April 4, 1991, when Anand Mahindra assumed the role of Deputy Managing Director of M&M Ltd.

Obstacles and Difficulties Encountered

One of the significant obstacles Anand Mahindra faced was when he was responsible for the management of M&M's Kandivali Factory in 1991. At that time, the worker's union went on strike, surrounding his office and making the situation hard to control. Rather than give in to their demands, he opted for a smart strategy. He announced that the Diwali bonus would not be given unless the workers returned to their positions. Regardless, this decision led to a surge in the company’s productivity, increasing it from 50percent to 150percent!

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Following this significant challenge, the Mahindra Group confronted another, even larger issue. They were lacking the technology necessary to design a car from the ground up. As a solution, they formed a joint venture with Ford. Unfortunately, the Escort car was unsuccessful when it hit the market. Yet, Anand Mahindra remained optimistic. 

Subsequently, he embarked on a daring mission. He aimed to produce a vehicle independently, without any joint venture. Any sensible person might have avoided this path, particularly after their previous product had failed, despite collaborating with a global automaker like Ford. But he rose above all challenges.  It brought forth the Scorpio, the SUV that made a significant impact in the market. Remarkably, the production cost of the project was just Rs 550 Crore, a mere tenth of what it cost other automotive manufacturers! 

Its appeal extended beyond domestic borders. There was also international interest in the vehicle from countries in Europe and Africa. You wouldn’t believe that this SUV was so well-received that it captured a 36percent market share! Meanwhile, Tata Group could only achieve 5percent. This was the initial step toward the development of modern utility vehicles like the XUV, KUV, and several others.

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By 2009, Mahindra and Mahindra had gained prominence in Indian homes and established a billion-dollar enterprise. They demonstrated that Indians are unparalleled. However, the company felt the need for a rebranding effort. Thus, they added the slogan "Rise" to their name, leading to the creation of 'Mahindra Rise.'

The Chronology of Acquisitions

M&M has an extensive record of acquisitions. Its initial acquisition involved obtaining a 100percent stake in Gujarat Tractors Ltd, a wholly-owned entity of the Government of Gujarat, which was finalized in 1999. Eight years later, M&M purchased Punjab Tractor Ltd, positioning itself as the largest tractor manufacturer globally. 

The past decade has been particularly fruitful for the company, marked by numerous acquisitions. They took over REVA Electric Car Company in 2010, followed by the acquisition of SsangYong Motor Company in 2011, and a one-third interest in Mitsubishi Agricultural Machinery in 2015 to enhance their global investments. Clearly, expanding their reach is a fundamental business goal. 

The company did not halt its efforts in 2015; instead, it continued to make several acquisitions in the subsequent years. It seems they aim to invest in every part of the world involved in the automotive sector.

 

The extraordinary contributions of Anand Mahindra, M&M has established itself as the leading company in the tractor and light commercial vehicle markets. In addition to its automotive ventures, it holds a prominent position in the IT, financial services, and vacation ownership industries. With operations spanning 72 countries and a presence in over 100, it has a truly global footprint.