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: and his people to focus on the value of the business in terms of money rather than product numbers. Needless to say, Modi’s role model for multiple reasons is his father not least of which are the latter’s disciplined drive, sense of accountability, quick decision making ability, his focus on strategy, implementation and open communication.
Umesh’s personal style is informal and astonishingly he is able to make do without a computer and his desk impressively has very little paper, a trait he attributes to his quick decision making ability. Modi, though a tough taskmaster, takes pride in the fact that he has had 200 people who have stayed loyal to him since 1974. He has braced the present day trend of layoffs by not conducting any mass retrenchments. “I’ve been able to hold on to my people because of my group’s strategy of being a consistent paymaster although not the highest paymaster,” he explains.
The reason Umesh is able to wear his successes today on his sleeve is because he recollects tougher times like the time in 1993 when he made the decision to close his 2,600-people steel mill. “It was by far the most difficult business decision I have made but I had to, because the mill was unable to function cohesively,” he admits. The redeeming element of this incident says Modi was that 500 people from the steel plant got replaced in other businesses, and some at the same level and salary such as the operations manager at the steel plant came over as the Revlon operations manager....
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