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• W182119712 abstract "Good governance has been an eternal source of inspired thinking and dedicated action. It is a misnomer to think that the philosophy of corporate governance has come into existence post the scams that plagued the corporate world in recent times. In fact many family-owned corporate organizations have in place such practices for many decades. In recent times, corporate governance mainly deals with two important stakeholders-shareholders and government. The shareholders provide funds for the actual functioning, expansion and diversification of the organization through the purchase of its shares, debentures or securities and in exchange for this investment, they expect some tangible and monetary return either in the form of dividends or interest or sometimes if the company is really successful, through the issue of bonus shares. The government regulates the working of corporate organizations through formulation of regulations which organizations need to follow both in letter and spirit. In this paper, the author has attempted to study the shareholder and governmentrelated practices of TVS Motor Company Ltd.-a leading company in the two wheeler automobile industry and a part of the century old TVS Group. The case study is based on triangulation of data based on personal interviews with top executives of the company, responses to an executive perception survey and supplementary information available in the public domain. COMPANY INTRODUCTION Beginning with launching a simple, easy-to-use moped for the middle class in India in the 1980s to launching seven new bikes in a single day (first time in the history of the automotive industry in the world), TVS Motor Company has often taken the unbeaten path to innovation for ushering in the personal transportation revolution. TVS Motor Company is the third largest two-wheeler manufacturer in India and one among the top ten in the world. It has an annual turnover of more than $ 1 bn and is the flagship company of the $ 4 bn TVS Group. The company has many firsts to its credit in the automotive industry in India. It has been at the forefront in bringing a revolution in the way personal commutation was happening, way back in the 1980s. TVS epitomizes Trust, Value and Service.1 THE TVS GROUP 2 The TVS Group was established in 1911 by Mr. T V Sundaram Iyengar. It is said that during the 1940s in Madurai, South Tamil Nadu, it was common to find people setting their watches on the arrival of a TVS bus. As there were zero breakdowns, zero late arrivals for a fleet with 400 buses covering 40 stops, TVS was known for on-time service. However, to the founder of the company, the ordinary ambitions of a bus fleet operator or a vehicle servicing business would not suffice. He wanted to create an enduring business led by a family of like-minded workers and managers united by a set of shared high principles. Driven by this inspiration, the TVS Group has today emerged as India's leading supplier of automotive components and is the largest automotive component manufacturer in India. In nearly a century now, there are over 30 companies in the TVS Group (See Exhibit 1), employing more than 40,000 people worldwide. It commands a strong presence in manufacturing of two-wheelers, auto components and computer peripherals and also in the distribution of heavy commercial vehicles passenger cars, finance and insurance. TV Sundram Iyengar and Sons Ltd. has a number of companies which are a part of the TVS Group. Prominent among these are - Lakshmi Auto Components Ltd., Lucas Indian Service Ltd., Axles India Ltd., Brakes India Ltd., Harita Grammer Ltd., India Motor Parts and Accessories Ltd., India Nippon Electricals Ltd., Lucas TVS Ltd., Madras Auto Service, Southern Roadways Ltd., Sundaram Brake Linings Ltd., Sundaram Fasteners Ltd., Sundaram Finance Ltd., Sundaram Industries Ltd., Sundaram Motors and Sundaram Clayton Ltd. (Refer Exhibit 1 in the Annexure for details about the TVS Group companies). …" @default.
• W182119712 created "2016-06-24" @default.
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• W182119712 date "2011-07-01" @default.
• W182119712 modified "2023-09-22" @default.
• W182119712 title "Corporate Governance in a Family-Owned Corporate Organization in India: A Case Study of TVS Motor Company Ltd" @default.
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