Book Title: The Tech Phoenix: Satyam’s 100 Day Turnaround
Author: T.N. Manoharan & V. Pattabhi Ram
Publisher: Rupa Publications
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It was January 2009, a normal day, and early in working hours, every Satyamite received a mail from the chairman, B.Ramalimga Raju. Every one of them was under the impression that it is the email regarding the annual bash Satyamotsav but, little did they know it was an email that would change their lives forever!
In the mail, Ramalinga Raju confessed to the economical fraud that happened for years in the company. No one was ready to accept that he was instrumental and the phrase ‘riding the tiger’ proved deadly. The share price went from 4 digits to a few mere rupees all of a sudden. Many lost hope in their lives both professionally and financially. During these turbulent times, SEBI took over the case and started working on it. It was an issue of fame and credibility that cost the country and the Government of India.
In The Tech Phoenix by T.N. Manoharan & V. Pattabhi Ram, the readers travel through the times of understanding the exceptional contribution of the government-initiated revival process, narrated by the authors who were part of the process. Some chapters explain what is not to be done at difficult times when the company faces a financial crunch. Each chapter is a lesson as well as a takeaway. This book happens to explain one of the risky yet remarkable corporate rescue operations where the collateral damage seemed acceptable.
The authors mention focusing on intangible factors like goodwill, customer satisfaction, HR development, quality, control, etc. Including brand building and reputation allows the readers to understand the extreme firefighting that happened to appease the employees, debtors, finances, and the judiciary.
The book is written in understandable language with a great narration of the revival story, hurdles, backlash, strategies, and indefinite ways of rebuilding the confidence among employees, clients, investors, financiers, probable buyers, and everyone else.
The Tech Phoenix by T.N. Manoharan & V. Pattabhi Ram is a must-read for those who want to explore new arenas of corporate governance!
Also, check out the book by Ashneer Grover –
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