The end of the year 2008 will
be remembered by many
people in many ways. For most of the people, howeverin
the western hemisphere in particularthe point of reference shall
obviously be the global financial crisis, along with resulting recession.
For Indians, though, the reference shall be something other than the
recession. Albeit of a lesser degree and magnanimity, the fall of
Satyam Computer Services (Satyam) from grace is equally important to
Indians as the global financial crisis is to the Westerners. Both will
find their due places in the academic books to engage a generation by
offering an invaluable learning on how to manage, and also how not
to manage companies. While in the case of Satyam, thanks to timely
intervention by the central government, and a new owner
(Tech Mahindra), investor confidence has to some extent been restored,
the global financial crises still continues to defy a satisfactory solution.
Government intervention, interim board of wise men,
regulatory lenience and the intent of buyer (Tech Mahindra bought 51%
stake of Satyam for Rs. 58 per share or around Rs. 2,500 cr in total)
are some obvious reasons that are much talked about for saving
Satyam (named as Mahindra Satyam post amalgamation); a deeper probe
exposes one genuine reasonthe quality of workforce that
Satyam nurtured over the years. The quality of about 45,000 software
professionals that Satyam developed into a committed workforce, ever
ready to deliver quality services, has build confidence in clients and thus,
has enticed Tech Mahindra to buy the beleaguered IT major,
beating Larsen and Toubro (L&T), Indian construction major (which
offered Rs. 45.90 per share) and Wilbur Ross, a US investment
company (which offered Rs. 20 per share). At the heart of this achievement,
lies the rigorous training that Satyam has imparted its workforce
through Satyam Learning World (SLW), the organization wide virtual
learning environment. |