MOI mahindra

TO THE CUSTOMER, FOR THE CUSTOMER, WITH THE CUSTOMER

MANAGEMENT OF INNOVATION ASSIGMENT 1

July 28

2010

AASTHA BHARADWAJ - 401AASTHA JAIN - 412NATASHA JILLA - 413ARITRI KUMAR - 416APARAJITA SHARMA - 422

MBA(TECH)TELECOMTRIMESTER XBATCH OF 2012

MANAGEMENT OF INNOVATION: MAHINDRA AND MAHINDRA LTD.

INTRODUCTION

Mahindra & Mahindra Limited (M&M) is engaged in financial services, tourism, infrastructure development, trade and logistics. It operates in nine segments: Automotive, which consists of sales of automobiles, spare parts and related services; Farm Equipment, which consists of sales of tractors, spare parts and related services; Financial Services, which consists of services relating to financing, leasing and hire purchase of automobiles and tractors; Steel Trading & Processing, which consists of trading and processing of steel; Infrastructure, which consists of operating of commercial complexes, project management and development; Hospitality, which consists of sale of timeshare; IT Services, which consists of services rendered for information technology (IT) and telecom; Systech, which consists of automotive components and other related products and services, and Others, which consists of logistics, after-market, two wheelers and investment.

Mahindra embarked on its journey in 1945 by assembling the Willys Jeep in India and is now a US $7.1 billion Indian multinational. It employs over 1,00,000 people across the globe and enjoys a leadership position in utility vehicles, tractors and information technology, with a significant and growing presence in financial services, tourism, infrastructure development, trade and logistics. The Mahindra Group today is an embodiment of global excellence and enjoys a strong corporate brand image.

Mahindra is the only Indian company among the top tractor brands in the world. It is today a full-range player with a presence in almost every segment of the automobile industry, from two-wheelers to CVs, UVs, SUVs and sedan. Mahindra recently acquired a majority stake in REVA Electric Car Co Ltd. (now called Mahindra REVA), strengthening its position in the Electric Vehicles domain.

The Mahindra Group expanded its IT portfolio when Tech Mahindra acquired the leading global business and information technology services company, Satyam Computer Services. The company is now known as Mahindra Satyam.

Mahindra is also one of the few Indian companies to receive an A+ GRI checked rating for its first Sustainability Report for the year 2007-08 and has also received the A+ GRI rating for the year 2008- 09.

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NAME: NATASHA JILLA

ROLL NO: 413

COURSE: MBA (TECH)

BRANCH:TELECOM

TRIMESTER: X

BATCH OF 2012

TOPIC: PESTEL ANALYSIS

PESTEL ANALYSISPOLITICAL The agriculture and farm equipment sector has been recently liberalized fully. The foreign trade regulation by the World Trade Organization (WTO) calls for a policy of 100% foreign direct investment. The government of India offers incentives on R&D expenditures and promotes and encourages exports in the segment. In the recent Taxation policy introduced by the government the Custom duty in import of tractor has been reduced from 67 to 62.8 percent which has Progressively reducing fiscal burden.

ECONOMIC The Pricing of tractors is done from the Indian farmers perspective who are usually poor and very price sensitive. The Disposable income of farmers is quite less in the majority of India. In the current business cycle of recession the availability of credit has gone down. Even though subsidized lending rate have been provided to farmers by the Indian government. This has also caused the entry of private banks in the rural market quite difficult.

SOCIO-CULTURAL The size of irrigated land holdings in India has come down due to division of land among younger generations. This has also caused the buying capacity of the farmers to decrease. The levels of education of farmers have comparatively increased in the past 5 to 10 years especially because of the education programs introduced by the Indian government. There has been a reduction in availability of cheap farm labor.

TECHNOLOGICAL NATRIP (national automotive testing and R&D infrastructure project) has been setup. There has been increased application of electronics on agricultural tractors like GPS and auto cruise systems. The company has increased Implementation of scientific farming practices such as irrigation. There has been Increase usage of haulage and non agricultural applications. There has been increased movement towards secondary mechanization leading to use of attachments like reaper, combine or seed drills. The High yielding seed varieties and fertilizers facilitates farm mechanization. The Engine performance has increased because of power train research and development. Accelerated testing techniques have reduced the development lead-time to help industry to introduce new models in shorter periods. Rapid prototyping also helps in accelerated development.

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LEGAL There has been tightening safety and performance regulations in the recent years. M&M has to confirm to emission norms in near future-Bharat TREM IV/EURO3/US TIER 3. New regulations noise/safety-NVH center of excellence have come up. M&M does Testing and certification as per OECD. ENVIRONMENTAL There has been increased focus on Agri based energy policy in near future. There has been increased focus on production of fuel oil and bio mass power. The cumulative average monsoon in India has increases 5%. The irrigation water stock has reduced in the past years.

ANALYSIS OF FES Porters Five Force Analysis

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Strength:

High product quality

TQM & Deming Award

Wide Marketing Network

Competitive Pricing Strategy Faster rate of new product

introductions Large Product Portfolio Aggressive Marketing strategies Word of Mouth

Weaknesses

High inventory level Inherent risks in foreign tie

ups Managing higher input costs

Opportunities

Increase in credit availability (lending by private and nationalized banks)

Technological innovations(fuel efficient tractors and alternate energy resources)

The Indian economy has been growing at an annual average growth rate of well above 8% for the last four years making it one of the fastest growing large economies in the world.

Increased demand of bio-fuel is a new product innovation opportunity.

Huge increase in exports Implementation of major

irrigation projects in the central and southern states boost the demand for tractors in the future.

Threats

Growing farmland fragmentation

Threat of imitation Threat of slack Threat of holdup Shift in demand across

regions(Northern states, central and western states)

Shift in demand for tractor power (50 hp)

Opening of import market for 2ndhand tractors detail

Increased entry for foreign players

New companies in the Market like John Deere, Renault Tractors, etc.


NAME: ARITRI KUMAR

ROLL NO: 416

COURSE: MBA (TECH)

BRANCH:TELECOM

TRIMESTER: X

BATCH OF 2012

TOPIC: MAHINDRA SHAAN: THE MULTI UTILITY VEHICLE

MAHINDRA SHAAN : THE MULTI UTILITY VEHICLE

Shaan is a Multiutility vehicle that falls in the 25 HP categories and is retailed at around 2.96 Lakh. It belongs to Mahindra‟s Farm Equipment Sector (FES).two years of Market Research was involved in the innovation of Shaan. The product was conceived and designed keeping in mind the needs of the young and progressive farmer, who is looking for a stylish, new-age tractor that is versatile and helps him earn, both in farm and during haulage. It is the first of its kind tractor in India and at present faces no competition from any other tractor producing company. M&M believes Shaan is competing with other Mahindra FES tractors only.

THE MAKING OF SHAAN

The different steps involved in production of SHAAN is as followed –

Stage 1: Introduction of “The Sactor:”

Around the 1997, in the tractor industry there was an inclination towards the below 25 HP tractors among the customers of limited means. They wanted an economically efficient tractor. The requirement was for a tractor which would act as a daily wage earner i.e. a tractor that can be used for farming purposes and also as a goods carrier. At that point M & M understood the demand and came up with n idea of making a built in trolley tractor. They created 5 prototype Sactor models within a year and sent it for testing.

Stage 2: Testing the Sactor : Performance and customer analysis

The design team communicated with the field and the market, they tried understanding the root causes of the failure of the test models. A major setback happened because of the fire in the Nagpur factory which took a toll on the equipments. The whole team then reworked on the modification adhering to tight schedules and well within time limits. The fully modified Sactor in 2000 then went for rigorous field test for a cumulative 7000 hours in different field applications. During its field test, Sactor caught the attention of many customers, which indirectly collected a lot of data for Quality Function Deployment (QFD).

Stage 3: Technical Specifications and statutory compliances

Sactor had a unique design, modern and stylish looks and an ability to speed along at 39 kmph. Also it could perform all the functions which a basic tractor could. This made it relatively easier for it to pass the compliance tests. After passing all the tests that are NABARD prerequisites , the Sactor managed to bag the certificate of compliance to Commercial Motor Vehicles Rules (CMVR) from CFMT&TI (central Farm Machinery Training & Testing Institute) Budni.

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Stage 4: Initial Test Launch of Sactor and customer reactions

The Mahindra team was quite anxious about the customer reaction towards their proud venture. The CEO, FES , Gautam Nagwekar instructed his team to launch the initial 15 Sactors to customers in varied locations like Madhubani in Bihar, Chhattarpur in M.P. & Junagadh in Gujarat. He instructed his team to interact closely with the customers. To the company‟s respite, the Sactor received humungous attention everywhere it went.

Stage 5: The Birth of SHAAN

Although the company had received the initial feedback by 2004, there were differences of opinion internally which delayed the launch. This pressure was borne by the Design & Manufacturing team who was responsible for identifying in-house as well as vendor issues, providing solutions and ensuring that those solutions get implemented.

They then decided to go for completely new styling in-house only using CATIA-V5, a software for product development solutions. The focus was on a conventional tractor look but with extremely new and stylish features. Consequently, a new and remarkable model was developed and was now named SHAAN.

Stage 6: The Manufacturing of Shaan

This was followed by the huge and cumbersome task of design and development of 270 exclusive parts in a short time frame of eleven months. The Mahindra New Product Development (MNPD) process was implemented followed by the design review of all the components.

Component development was conducted at its maximum speed. They took the help of JAM auto owing to their expertise in this area for the development of the bonnet in record six months.

Stage 7: The Pilot batch of Shaan

As a proactive step, the manufacturing team proactively rolled 3 Shaan tractors in the main production line, which was a big challenge. This helped in finding out that the frame of Shaan was too large for the paint shop and it was therefore modified. Further , 10 more tractors were rolled out as a pilot batch for checking Shaan’s improved hydraulic performance in the field. After taking a ride himself, the President-FES, Mr. Anjanai Kumar Choudhari , gave the pilot batch the green signal.

Stage 8: The Mega Launch

Delhi, in July 2006, witnessed the grand launch of 50 SHAAN tractors. The tractors were rolled out and dispatched with due support from the Nagpur plant. Since then there has been no looking back for the sales for Shaan.

Later on Shaan was launched across various states in a phased manner.

Post-launch customer satisfaction measures

At every launch of the Shaan, Demos and suitable implementations of Shaan relating to field applications were showcased. Focus was placed on how Shaan could be delivered to its owner in an intimate & personalised way.

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Also a call centre called “Customer connect” was established. The customer satisfaction was taken care by taking feedbacks formally on the 15th, 45th and 90th day after delivery hoping that their first customers could become the future brand ambassadors of Shaan.

Awards & recognitions

Shaan bagged numerous prizes for the organisation.

The first being an internal award, was the Innovation award from Mr. Anand Mahindra, VC & MD, Mahindra group.

One of the most prestigious awards SHAAN had won is the AE50 award from ASABE, the Society for Engineering in Agricultural, Food and Biological systems. It rated Shaan as the Most Innovative designs in Engineering Products or products for the food and agriculture industries.

The Mahindra Shaan also featured in the June 2007 special AE50 issue of the ASABE‟s magazine Resource: Engineering & Technology for a sustainable world.

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NAME: AASTHA JAIN

ROLL NO: 412

COURSE: MBA (TECH)

BRANCH:TELECOM

TRIMESTER: X

BATCH OF 2012

TOPIC: FEATURES OF SHAAN AND SHAAN AS DISRUPTIVE TECHNOLOGY

The DIFFERENTIATING FEATURES of SHAAN could be summed up as follows:

Shaan's in-built trolley serves a dual purpose - it helps in farming activities and facilitates transportation as well. This helps multiple haulage operations like transporting agri-produce to mandis, fertilizer seeds/manure to the farms, sand from river beds, etc.

As a tractor it can run farming implements, like the cultivator, rotator and 6x6 harrow and this will benefit farmers with smaller land holdings. This groundbreaking concept will enable farmers to utilize the tractor throughout the year and help in increasing their earning capability. The added revenue can then be used by the farmers to improve their farming techniques and hence their produce.

Shaan is capable of making road trips with a road speed of 39.5 km per hour. This allows more trips, resulting in more earnings per day It is able to carry small loads like oil drums and milk cans and has a self load carrying capacity of 750 kg on platform. It is designed to provide fuel efficiency for haulage.

The tractor has features like stylish driver's cabin with an in-built trolley, designed sporty bodyline, unique windscreen with wipers, robust front grill & backlit instrument panel. Besides these, Shaan also boasts of some unique features including powerful halogen headlamps, ember colour turn indicators, down swept exhaust, side fuel-inlet, easy reach of all instruments, and easy accessibility to clutch, brake pedal and accelerator.

LITMUS TEST Applying the Clayton Christensen’s Litmus Test

1. Do you think Mahindra Shaan was able to cater to the needs of large population of people who did not have the money, equipment, or skill and as a result had been doing without it before?

Yes, Mahindra Shaan came up with the concept that farmers were looking for. They were in need of a vehicle that could be used throughout the year and not just for farming. It was priced aptly (approximately 2.96 lakhs) without compromising on its features. Given the seasonal nature of farming, farmers were dependent on odd jobs like haulage in the off season. They also needed a vehicle to transport their produce to market. They had to often hire tempos to do so and were exploited by tempo owners. Shaan has given them an opportunity to earn their livelihood round the year.

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2. Are there customers at the lower end of the market who would be happy to purchase Mahindra Shaan with less performance if they could get it at a lower price?

As per the current price (approx. 2.96 lakhs), it was well targeted at farmers with 5-7 acres of land but if the price is decreased, then market positioning will change catering to even lower end of the existing small farmers. Thus, if the price is further reduced with lesser performance, then marginal farmers with lesser acres of land will get benefit as far as affordability of Shaan is concerned. In rural areas, decision making process is generally collective. In the purchase process- influencer, decider, buyer, one who pays - can all be different. So marketers must address brand message at several levels.

Figure – Hierarchy showing levels from landlords to laborers.

3. Is the innovation disruptive to all of the significant incumbent firms in the industry?

At present Shaan is a disruptive technology and cannot be easily replicated by other tractor players. Technology does not play a very big role in this but only Mahindras have the financial capability to make it available at a price comparable to a normal 25 HP tractor. M&M has the largest market share in tractors and has a brand that is synonymous with quality. It has the resources to invest heavily in R&D. A combination of all these factors has made it possible for Shaan to be a success so soon.

SHAAN AS DISRUPTIVE TECHNOLOGY No such product existed before- Mahindra Shaan is a multiutility vehicle which can do both agricultural work and haulage work. Tractors were being used to do agricultural work and tempos (usually hired by farmers) were used to do haulage work in off season or to transfer produce from villages to markets. Mahindra shaan bridged the gap between two off shoots of agrarian work: farming and haulage. Shaan was a discontinuity of market. It has no substitutes, no competitors at present.

There was no explicit demand from consumers- Shaan is typically a rural product. Latent demand for such a product was always there since farming is a seasonal occupation. In the off season farmers depend on haulage work. They also needed a vehicle to transport their produce from village to market. Given the economic condition, farmers cannot afford to purchase tractors and a transportation vehicle. But obviously they could not know or expect that both the utilities could be merged so beautifully in a product called Shaan and priced like a normal tractor. Shaan gives farmers an opportunity to earn round the year.

An unexpected market segment has emerged- Shaan was targeted at farmers having 5-7 acres of land. Farmers owning less than 5-7 acres do not usually need tractors. Farmers having

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greater than 7 acres usually have enough to sustain them round the year. It is the farmers who own 5-7 acres of land are dependent on haulage work in off seasons.

Shaan has met with considerable success in this segment but surprise came from brick kiln segment. People in brick kiln segment have become its users in a major way. It is rugged enough to brave the muddy roads of interiors and it can transport bricks also.

Performance parameters- An important characteristic of a disruptive technology is that it requires a new set of performance parameters to evaluate it. Shaan has also become a status symbol “jeep wali tractor”. Its product specifications are the first of its kind in the range in India.

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NAME: AASTHA BHARADWAJ

ROLL NO: 401

COURSE: MBA (TECH)

BRANCH:TELECOM

TRIMESTER: X

BATCH OF 2012

TOPIC: CLAYTON CHRISTENSEN’S “FIVE PRINCIPLES” AND “DISRUPTION PROCESS” ON MAHINDRA SHAAN

APPLICATION OF CLAYTON CHRISTENSEN’S 5 PRINCIPLES ON MAHINDRA SHAAN

Principle #1: Companies depend on customers and investors for resources

As per Clayton Christensen, creating an independent organization, with a cost structure honed to achieve profitability at the low margins is the characteristic of most disruptive technologies.

And this is exactly what M&M management did. They formed a separate “Tractor Sector team” for this new prototype and called it “Sactor”. They allocated resources accordingly to this team including design team, component development team etc. Field exposure of Design team helped to attack the root causes of the initial failure. The management didn’t stop their support at this stage. In fact, they backed the team with proper resource allocation. Through continuous effort and dedication the designs were revised and refined.

Thus the involvement of top management with proper resource allocation was very important for coming with “Mahindra Shaan” targeted at the low-end of the market.

Principle #2: Small Markets Don’t Solve the Growth Needs of Large Companies

As per this principle, many large companies adopt a strategy of waiting until new markets are large enough to be interesting. But with M&M, in spite of being the market leader in FES sector, they came out with the product that catered to a new segment of customers and were ready for slow profit in the earlier days after its launch. It is very difficult for a company whose cost structure is tailored to compete in high-end markets to be profitable in low-end markets as well.

As per Ansoff’s Matrix, Mahindra Shaan was the result of Market Development strategy with the existing product(tractor) catering to farmers for multi purpose in case of farming as well as new segments like brick kilns, vegetable vendors, milk suppliers, sugarcane owners, for removing silt near rivers etc.

Present Product New Product

Existing Market Market Penetration Product Development

New Market Market Development( Mahindra Shaan)

Diversification

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Principle #3: Markets that do not exist, cannot be analyzed

Initially “Mahindra Shaan” was aimed at rural people with 5-7 acres of land who depended on both agricultural and haulage work for their livelihood and also people who were modern in their thinking and have a go-getter attitude. It not only became popular in this segment but achieved astounding success in the brick kiln segment.

Thus, here the market segment that they initially thought was “small farmers with 5-7 acres of land”. But they had not predicted that it could even be used as milk vans in coming days. The present Consumer Segments of Shaan include Farmers, Vegetable vendors, Brick Kilns, Milk vendors, Florists, etc.

Thus this principle is aptly applied to a disruptive innovation like Mahindra Shaan.

Principle #4: An Organization’s Capabilities Define Its Disabilities

Processes and values are not flexible. Thus it was very important for the management of M&M to take care of these aspects with Mahindra Shaan. A process that is effective at managing the design of a tractor with 72 HP, for example, would be ineffective at managing the design of a multi-utility tractor with 25HP power. Also, there were additional requirements in Mahindra Shaan for which flexibility in processes was need.

Similarly, values that cause employees to prioritize projects to develop high-margin products, cannot simultaneously accord priority to low-margin products like Mahindra Shaan. The very processes and values that constitute an organization’s capabilities in one context, define its disabilities in another context. Thus it was very important for M&M to understand the difference, which they did it without any resistance from the top management.

Principle #5: Technology Supply May Not Equal Market Demand

As per Christensen, products whose features and functionality closely match market needs today often follow a trajectory of improvement by which they overshoot mainstream market needs tomorrow. Mahindra Shaan, when initially launched for testing in the name of “Sactor” had some technical problems which they corrected in due course of time. But after its launch they could see the trajectory of improvement not only in terms of customer’s expectations but also their market needs.

Application of “Disruption Process” proposed by Clayton Christensen

on “Mahindra Shaan”

Step 1: Start before you need to

To build what will be a respectable growth business in five years time, you must start now, adding new units to your portfolio of growth businesses. M&M started thinking of the concept of “multi-utility tractor” way back in 1997 and the management felt the need of introducing a tractor that could NOT only be used for farming purpose but also for transportation as the farmers required a versatile tractor that could be used as a daily wage earner. A tractor was required below 25 HP category that could have enough speed to do a number of trips a day. In fact it was the best time to invest for growth as the company was growing.

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Step 2: Put a Senior Manager in Charge

Mr. Gautam Nagwekar, CEO FES, was the senior manager in charge of the “Sactor team”. He was accordingly responsible for the resource allocation process among the various teams under him like design team, component development team etc.

Step 3: Create an Expert Team of Movers and Shapers

As explained earlier, senior management at M&M created a core team that was responsible for collecting disruptive innovation ideas and molding them into propositions that have the greatest chance for success.

Step 4: Train the Troops

Design & Manufacturing teams who were responsible for identifying in-house as well as vendor issues, provided solutions and ensured that those solutions get implemented. The team was instructed to launch the initial 15 Sactors to customers in varied locations like Madhubani in Bihar, Chhattarpur in M.P. & Junagadh in Gujarat. Sales, marketing, and engineering employees were best positioned to encounter disruptive growth ideas, and thus were among the first of the company’s “troops” to be trained in the language of sustaining and disruptive innovation. It was crucial that they come to know what kinds of ideas they should channel into the sustaining processes of established business units, and which should be directed into disruptive channels. The team was trained for the design and development of 270 exclusive parts in a short time frame of eleven months.

CONCLUSION

According to Clayton Christensen’s principles and my perspective, I think Mahindra Shaan was surely disruptive as it was successful in changing the rules of the game. Farmers could use it as a “daily wage earner” and thus became independent of the seasonal nature of farming. They could also use it as a “goods carrier” and thus make a number of trips per day between the marketplaces. They could use it now for their alternative sources of earning.

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NAME: APARAJITA SHARMA

ROLL NO: 422

COURSE: MBA (TECH)

BRANCH:TELECOM

TRIMESTER: X

BATCH OF 2012

TOPIC: ANALYSIS OF THE BIO DIESEL TECHNOLOGY

ANALYSIS OF THE BIO DIESEL TECHNOLOGY

Driving force: This technology is an initiative by M&M FES to go green Model launched: Biodiesel compliant Arjun International 75757, a 75 HP tractor. Target market: Stage 1 - Maharashtra. Stage 2 - Mahindra Tractor's bio-diesel range of tractors was supposed to be rolled out in a phased manner across various geographical locations. Launched at: The “Kisan Mela” in Pune in December 2007 Distribution channel Strategy adopted: company decided to use major towns in the state as hubs to supply biodiesel within a 50 km radius. M&M dealers in these hub cities stocked biodiesel and distributed it within their territories. Underlying technology: The company’s research and development team had developed a fuel injection system that will allow mixing of five per cent biodiesel. The tractors will also be able to run without bio-fuel.

Why biodiesel technology? Utilizing organic material like algae, vegetable oils, animal fats or recycled restaurant greases we can develop Biodiesel. It is safe, biodegradable and reduces air pollutants, such as particulates, carbon monoxide and hydrocarbons However, the smog forming hydrocarbon emissions are 35% greater, and nitrogen oxide emissions are also greater than regular diesel. Biodiesel is a better solvent than standard diesel, as it 'cleans' the engine, removing deposits in the fuel lines.

Environmental Scan for Bio Diesel Technology PESTLE analysis of the Bio-Diesel Tractor: Political factors: the concerning problem about importing large volumes of oil can be sorted out by using this bio-diesel. It serves a national purpose by reducing heavy dependence on imported oil.The Bio-diesel programme is one of Mahindra's investments in India's sustainable economic development.

In December 2006, not including fuel duty, biodiesel production costs at that time hovered around the 50-60p/litre mark. Because mixing the fuel with rebated red diesel can affect the dye, blends attracted a duty rate of 53.27p/litre - over 6p more than the standard road fuel rate.

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Clearly both the production and tax costs made biodiesel's use as an agricultural fuel unviable for certain time then. However with the Chancellor's Budget report which announced a review of the duty situation for blends and also since mineral diesel prices continued their inevitable upward spiral it became a more attractive proposition.

Economical factors: with a sale rate of about 18000 units per year(40% of total tractor sale in India) Maharashtra came out to be the most lucrative region to implement this project in stage 1.As far as the tractor exports are concerned, the African market represented a big opportunity for the company, which had begun to export its offerings to Nigeria, Zambia and Gambia. Another key market was Iran.

Socio-cultural: M&M‟s FES caters to the need of the farmers. The increasing use of environment friendly techniques was the increasing focus of the farmers. This catalysed M&M‟s R&D further.

Environmental: The alternate fuel programme in M&M was developed as a result of India‟s changing fuel consumption needs, The Mahindra vehicles are a landmark in the government's sustainable energy goals. Such innovative use of technology will serve as a benchmark in India's push for a sustained and more responsible use of valuable energy resources, will help energy security and national security.

THE R&D INVOLVED M&M have an over 700-strong R&D team with the proven in-house capability to develop contemporary bio-diesel engines & emissions reduction capability. The bio-diesel vehicles are a result of M&M's pioneering research and unmatched expertise in India's alternate fuel and engine development domains. M&M is a pioneer in R&D of alternate propulsion technologies in India and had also set up its own bio-diesel pilot plant way back in 2001. M&M carried our extensive studies on traditional engines and vehicles and realized the need to develop vehicles for contemporary and fuel efficient diesel engines like CRDe, meeting the world's latest emission norms. M&M has been seriously looking at technologies that will help enhance focus on converting bio-mass to bio-fuels.

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CONCLUSION

Witnessing the outstanding innovations that Mahindra‟s FES came up with in the past few years and also analysis of the bio diesel technology reveals that Mahindra & Mahindra Ltd. shows that M&M has been very proactive in its approach towards fostering new product and process innovations. Although we have considered an in-depth analysis of the Mahindra “Shaan” and the FES sector, Mahindra as a company fascinated us with its numerous innovations in the automotive sector as well.

Every model they launch is nurtured with care like their own child and enough R&D, field testing and customer feedback is taken and actively updates are done in the product. Listening to the customers at every product development step which we illustrated in the development process of Mahindra Shaan, makes them an immensely customer centric organisation.

The culture of innovation very deeply imbibed within the organisation as is evident from the untiring enthusiasm from employees at every level of a new product development. This can be illustrated with the example of the “Sactor‟ where the entire organisation had just one goal to achieve – Giving India such a tractor cum built in trolley which not only helps in easing out the agricultural process for the average farmer but also contributes towards development of agriculture in India. Studying Mahindra & Mahindra has been a great learning experience for all of us. It gave us an opportunity to relive the processes a disruptive technology introduces, how is management of a disruptive technology different from the management of any conventional product development and how can a organization foster an ongoing culture of innovations and be successful with its launches year after year. The Mahindra timeline is exemplary as far as innovation is concerned.

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