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IIMB Management Review

Document Type

Interview

Abstract

Anu Aga is the Chairperson of the Thermax Group of Companies, a Rs 780 crore Pune-based energy, environment and chemical major that exports its products worldwide. Thermax is known for its innovation in products, processes and practices, as well as its culture of openness. Anu Aga started her career at Thermax in 1985, in the Human Resources department, and went on to head the function from 1991 to 1996. When she took over as CEO, the company was going through a difficult period. Remarkably, she has managed to see the company through the crisis and put it back on the road to recovery at a time when the rest of the industry is facing a downturn. In a frank and forthright interview, Ms. Aga talks to Ganesh Prabhu about the remarkable culture of caring and innovation that existed in Thermax in its early days; about what went wrong, and how the company is undergoing a transformation. A chronic problem with the company, probably resulting from its stress on innovation, was lack of discipline. However, putting back the discipline led to loss of innovation. In addition, Thermax had been over-ambitious, getting into unrelated areas instead of concentrating on its core competence. With the help of the Boston Consulting Group, Thermax got out of unrelated fields and also downsized effectively in order to get back on track. Ms Aga shares with Ganesh Prabhu her staunch conviction that there is no substitute for honesty with oneself and with others. She also discusses the role of the Confederation of Indian Industry, where she is Chairperson, Western Region, and of the corporate world vis-à-vis society.

Publication Date

3-1-2002

First Page

39

Last Page

53

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