Hyderabad: Even if the war in Ukraine were to end in a week’s time, its impact will last for at least a year in the form of inflation, higher oil prices and breakdown in the global supply chain, said Sunil Kant Munjal, chairman of Hero Corporate. He spoke at length about his book The Making of Hero, in which he has chronicled the account of the Hero Group’s origin and its growth over the years.
The book covers a spectrum of thoughts on the product, pricing, strategies, branding and marketing behind the organisation. In Munjal’s words, The Making of Hero is an authentic ‘Make in India’ story about overcoming adversities, tepid economic growth, and global competition in the recent past. Excerpts.
Q: What made you write this book?
A: People had been requesting such a book for the last 30-40 years as they wanted to know about the company and our family’s story. When we decided to write a book, I thought who other than an insider would better describe the journey.
Q: What are the core values that drive decision making in the group?
A: To try and constantly grow with experimenting, fully knowing that there will be setbacks. At the same time, we make it a point not to commit the same mistakes every time.
Q: Does the book reveal any key setbacks in the Hero Group’s journey over the years?
A: Yes. From experiencing a massive earthquake in Quetta (now in Pakistan) in 1935 to having the government restriction of small-scale production and our two-wheeler licence business being cancelled, the book reveals many interesting tales.
Q: Surprisingly, there are hardly any publicly known disputes within the family. How does your family manage internal decision-making?
A: I have explained this part quite extensively in the book. We underwent a massive restructuring over a decade ago to avoid differences by creating an alignment within the family. We have over 20 family members in over 30 companies. Since the restructuring, fortunately, the companies have grown dramatically well while the family is still friendly and intact.
Q: What kind of impact do you see on the automobile sector in the current geopolitical scenario?
A: Even if the war in Ukraine were to end in a week’s time, the negative impact of it will last for at least a year due to the higher inflation, higher oil prices and breakdown in the global supply chain....