Kamalnayan Bajaj - page 54

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KamalnayanBajaj –Architect of theBajajGroup
Kanpur-basedRadioLampWorks had a tiny
transformer factory inBombay, a small glass blowing
plant inShikohabad, a 50% stake inHindLamps and a
pile of debtswhenKamalnayanbought it in 1954.
Write-offs are high on anymanager’s list of unpleasant
tasks. A realistic businessman, that’s exactlywhere
Kamalnayan launchedhis turnaround. “YourDirectors
have considered it advisable towrite off stocks in
Pakistan and certain amounts due inPakistan as there
does not appear tobe any prospect of recovering these
amounts,” he informed shareholders inhis no-nonsense
manner. The cleanup continuedwith awrite-off on the
shares of Prabhat Bank, purchasedprior toPartition,
whichhad subsequently lost their value.
Kamalnayanpermittedhimself to fully
unleashhis aesthetics andmanagement
philosophy. The cover of the annual
report of 1956-57 is aharbinger of the
newway of working. As interesting as
its cover are the inside pages. Apart
frommodern jaunty fonts anddesign,
a statutory and staid report is turned
completely on its head. It showcases
the importanceKamalnayan gave to
advertising, alongside a data-based and
consumer-centric approach to sales and
marketing.Kamalnayan also stopped
signinghis name in theEnglish script
in favour ofDevnagri. Changewas not
just in the air, but inblack andwhite.
The turnaround
Newclothes. RadioLampWorksbeforeandafter
KamalnayanacquiresRadioLampWorks.
RamkrishnacelebratingBajaj Electricals’ 25thanniversarywithemployees
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