IIM Ranchi hosted an insightful session by Mr. Madan Mohan Mohanka, Chairman, Tega Industries, who shared invaluable lessons from his entrepreneurial journey with students, faculty, and staff. Drawing from decades of leadership experience, he reflected on the challenges, decisions, and values that shaped the growth of Tega Industries into a global enterprise.
Recalling his time as a student at IIM Ahmedabad, Mr. Mohanka spoke about the initial difficulties he faced in adapting to management education despite having an engineering background. He emphasised that the most enduring learning often comes through self-discovery and perseverance rather than relying solely on classroom instruction.
Sharing milestones from his entrepreneurial journey, he highlighted the importance of patience, resilience, and calculated decision-making. He recounted the early struggles of the company’s Kalyani plant, which operated for nearly two years without generating sales, underscoring the need to assess not just potential but convertible potential. He also described how Tega Industries strengthened its business by focusing on a select group of key customers, demonstrating that sustained growth is driven by strategic focus and long-term relationships.
Reflecting on the company’s international expansion, Mr. Mohanka discussed a costly acquisition in Chile, stressing the importance of undertaking thorough due diligence before acquiring a business. He advised aspiring entrepreneurs to spend sufficient time understanding an organisation and building an internal team before making acquisition decisions, rather than relying entirely on external consultants.
Emphasising people-centric leadership, he noted that employee salaries were always paid on time even during periods of financial hardship, reinforcing his belief that organisations must stand by their teams during challenging times. He encouraged students to believe in their teams, products, and themselves, while also advocating empathy in leadership, stating that compassionate decisions sometimes require leaders to look beyond rigid organisational rules.
Responding to a question on startups, Mr. Mohanka observed that while today’s entrepreneurial ecosystem is vastly different, the fundamentals of building a successful enterprise remain unchanged – strong teams, conviction in the product, self-belief, and collective resilience.
Speaking on the occasion, Prof. Deepak Kumar Srivastava, Director, IIM Ranchi, remarked that the fundamental purpose of management education is to equip learners with the tools and techniques required to create and capture value. While today’s business landscape is characterised by greater competition, rapid technological advancements, and increased connectivity, he noted that the core principles of value creation remain unchanged.
Highlighting Tega Industries’ presence across 27 countries, Prof. Srivastava described the organisation as a true global enterprise whose journey offers valuable learning opportunities for management education. He also emphasised that although information has become an important currency in the modern world, it must be complemented by wisdom acquired through mentorship and experience to enable sound judgement. He thanked Mr. Mohanka for his inspiring address and expressed IIM Ranchi’s honour in hosting him for the session.
