IIPM PUBLICATION
Besides these, the group has also forayed into sectors like ITeS, health, telecom, hardware & cement. Yes, but even this diversified business group is nothing but an entity that has failed to thrive post-liberalisation, lady luck and vision both seem to have abandoned this company and the overall Dalmia empire withered away from public gaze. Sanjay’s move to buy UP Cement Corporation from Mulayam Singh’s government in 1991, proved wrong as the succeeding Kalyan Singh snatched it back the following year. Dalmia sought restoration through politics, rather through business moves, and this in itself proved to be a step too far, as his concentration was diverted from becoming a successful corporate king to a politics ‘rent seeking’ activist! He stayed in active politics till 1998 when his business was nothing but dormant. By the time he returned to business, recession hit, and his group’s annual revenues had dried-up to just Rs.5 billion (1998-99). Furthermore, their ‘PageInfo’ business was rendered obsolete by mobile phones.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
Initiative :- An IIPM and Management Guru Professor Arindam Chaudhuri (Dean of IIPM)
Besides these, the group has also forayed into sectors like ITeS, health, telecom, hardware & cement. Yes, but even this diversified business group is nothing but an entity that has failed to thrive post-liberalisation, lady luck and vision both seem to have abandoned this company and the overall Dalmia empire withered away from public gaze. Sanjay’s move to buy UP Cement Corporation from Mulayam Singh’s government in 1991, proved wrong as the succeeding Kalyan Singh snatched it back the following year. Dalmia sought restoration through politics, rather through business moves, and this in itself proved to be a step too far, as his concentration was diverted from becoming a successful corporate king to a politics ‘rent seeking’ activist! He stayed in active politics till 1998 when his business was nothing but dormant. By the time he returned to business, recession hit, and his group’s annual revenues had dried-up to just Rs.5 billion (1998-99). Furthermore, their ‘PageInfo’ business was rendered obsolete by mobile phones.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2006
Initiative :- An IIPM and Management Guru Professor Arindam Chaudhuri (Dean of IIPM)
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