I wrote in one of my previous blog of how team India went from heroes to Zeroes, Here is the total opposite of it , a person who is zero or negative image for all Indians is now a big hero.
Indian Railways abbreviated as IR, is the state-owned railway company of India. It is one of the largest and busiest rail networks in the world, transporting just over six billion passengers and almost 750 million tonnes of freight annually. IR is the world’s largest commercial or utility employer, with more than 1.6 million employees.
Lalu prasad yadav, minister of Indian Railways played key role in turning loss-making entity to a profit-making one. Lalu Prasad Yadav is now credited with engineering the financial turnaround of Indian Railways, that was on the verge of bankruptcy before his appointment to the office. What makes his performance commendable is that he has left passenger fares untouched and has found several other profitable sources of revenue for the Railways.
And with this success has come immense recognition to Lalu that IIM-A has taken the railways success as a case study.
said Professor G Raghukumar of IIM-A quotes “I feared the worst when he took over, but he has proved every one wrong. This turnaround is because of the political leadership being in sync with the professionals of the railways. We think this model could be replicated in other PSUs”
This Lalu’s wisdom bits of Indian railways turnaround gave him business star status not only in India but also abroad – GE chief Jeffery Immelt wants a tete-a-tete with him; HEC International Business School, Paris, wants research done on him; a Harvard University seminar scheduled in New Delhi, wants him to shed light on Laloonomics; and most of the management gurus feel that no star, be it a filmstar or a sportsstar, sells like Lalu.
Recently when speaking to business school students , Lalu gave his insights and some of these important points that should be the role model or templates for some of the largest corporations that are on the verge of bankruptcies with costs and competition.
Lalu in a very humble way admits “it all happened because of the hard work of his 1.4 million employees “.He Offered global MBA students to work in Indian Railways to know its culture and wants these grad students to be part of the success of Indian railways.This reflects his on-going commitment by introducing global business ideas to improve financials of Indian Railways.When asked about the steps taken by the Railways to cut down emission and his reply was ‘electrification,’ switch over from coal engines to bio-diesel ones and planting of Jatropa saplings.What is different he did for his employees – “the 65 days bonus given to railway employees, special Holi allowance of Rs 400 distributed to Grade D workers and facilities given to field workers“.
This in my opinion a simple strategy that Lalu simply attacked the grass root problems that largest corporations are facing today.We need thousands of Lalu’s who can save companies and eventually people whose livelihood is dependent on those companies.
All India ridiculed Lalu for his fodder scam (950 crores) which costed his chief ministry in Bihar is now sought after person by Business and Administration professions.