STRATEGIES FOR SUCCESS
"I look for win-win solutions"
Manoj Kumar

"Most of the industrialists or managers would try to fix problems through quick-fix solutions, but I always try to work out a solution that would create a win-win situation for all the stake holders, including company employees, share holders and the consumers," says Navin Jindal, industrialist-cum-politician. He is, at present, representing the Kurukshetra Lok Sabha constituency of Haryana.

Jindal, Managing Director, Jindal Steel and Power Limited (JSPL), successfully turned a loss-making steel company into one of the most efficient and profit-generating steel units in the world. (Current turnover over Rs 1500 crore)

The biggest challenge in my work life

"In the early 90s, when I joined my family steel business, the company was suffering huge losses to the tune of Rs 30-40 crore annually, and I was not sure whether we would be able to sustain in the business for too long. But I was determined to find a solution."

How I faced the crisis

"Instead of trying to find out a solution individually, I asked for advice from all the quarters and built up a strong team to face the challenge. " I knew from the very beginning that we will have to bring down the costs to remain in business and to win new customers, so we entered into coal mining and captive power generation to produce low-cost steel besides developing new product chains."

"Today, the company has mastered the task of manufacturing up to 120-metre-long rail lines, the only private firm in the country to do so. It is likely to save scarce financial resources of the Railways and will contribute to safer train journeys.

"During the past one decade, we have faced several difficult situations, but I have learnt to continue the work sincerely and even take risks to experiment. I was surprised when we got help from unexpected people during our crisis.

"I learnt that sincerity, hard work and patience would ultimately pay a person and tough times do not last long.

My role model

"My father, O.P. Jindal, himself a renowned industrialist and a down-to-earth man, is my role model. I have learnt from him to remain cool and work persistently in difficult situations.

"He has taught me this mantra-talk less and work more. He has instilled some basic qualities in me like show respect to all, especially subordinates in the company and society. Secondly, "Focus on work without expecting always that results would be up to our expectations. One should also share one's success with the family and community since they have also played a role in your success."