Ya'll Nibbiars
Once upon a time in a company called NELCO, there was manager called Arjun Bhateja. There was a rumour in NELCO that NELCO was going to tie up with Sony and start manufacturing Sony TVs in India. Tatas were looking for 50:50 partnership with Sony.
Soon there was one more rumour that Arjun was going to head that unit. Arjun started dreaming about his future, his spacious cabin, his peers reporting to him, new young secretary. trips to Japan etc.
But unknown to Arjun, in faraway place called Tokyo a meeting was arranged between Akio Morita, owner of Sony and PV Narasimha Rao , Prime minister of India.
Details of this meeting were shared by economist Montek Singh Ahluwalia in one of the interviews given to finance magazine. As per Ahluwalia was happened as as follows :
When Akio Morita, the head of Sony, entered the room, Rao put his hand over Morita and said, ‘Every Indian wants a Sony TV, and you are not making it.’
Morita shrugged. Sony was willing to invest only if they could own 100 per cent of the local company, which Indian rules forbade.
‘You apply,’ Rao told him. ‘We will give it.’
Without going back to his Cabinet or Parliament, Rao had changed policy. But he was trusted, and Sony soon began selling in India.
In this new situation TATAs had no significant role to play in venture and Ratan Tata decided get out of TV production. Which meant not just Arjun but entire TV production unit was redundant.
Arjun learned important lesson Never count your chickens before they hatch. And later joined a Non electronic Firm and retired from a senior post.
From the NELCO.