2021 will be year of reinvention: Anand Mahindra

New Delhi: Mahindra group has emerged stronger from the Covid-19 crisis and the 'strange & sinister year' 2020 will be transformed into a year of 'reinvention & regeneration' in 2021, according to the chairman of the conglomerate, Anand Mahindra.

In his New Year address to the 2.56 lakh employees of the group across 100 countries, Mahindra said in spite of all the problems brought about by the pandemic last year, "some unexpectedly great things had emerged from what seemed like an impossibly bad situation". Drawing parallels to the development of Covid-19 vaccines, in which researchers and regulators have fast-tracked the vaccine development process to 10 months which otherwise takes 10 years, he said there are lessons for the group to learn from it in terms of following purpose-driven business, rebooting and re-evaluating.

"I think the first important learning from that story is that the day of the purpose-driven business has arrived," he said adding manufacturing the vaccine is a true purpose-driven business, which is gaining currency today but the group has been at it since 1997. An even more important lesson is the power of a quick reboot as demonstrated by how quickly medical science abandoned its conventional approach and rebooted to tackle the new problem of Covid-19 by restructuring their processes, applying the latest technology.