Case Study
Mr Reddy was a young Officer in a nationalized Bank in Bangalore.
He was approached by Mr Naidu, Owner of a small Textile Plant, for a
Loan to renovate his Plant. Mr Reddy gave him a Loan of Rs 5,00,000. The
Bank's Branch Manager who saw no future in Textiles, was shocked at
the Loan transaction. He told Mr. Reddy to stay close to Mr. Naidu until
the money was paid back. Mr. Reddy stuck so close that he became Mr
Naidu's Financial Adviser. The Loan was repaid but Mr. Reddy became
Naidu's Partner and resigned his Bank job. Within six years, Mr Reddy set
up another Textile Plant and after two Decades his Textile unit became
the second fastest growing Textile Company in the Country. Mr Reddy's
management style was characterized by an emphasis on innovation and
tight control. To his employees, Mr Reddy was a friendly and highly
visible Boss. He always worked around the plant and called Vast number
of Workers by their first names. He preferred to lead by example rather
than telling people how to do their jobs.
However, Mr Reddy committed a big mistake of not grooming a
Successor. Therefore, there was a Vacuum at the top when he had a
severe Heart attack and died.
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