Effects of changing business environment on organization performance : the case of HMT Watches Ltd. / Utpal Chattopadhyay, Pragya Bhawsar.

Format:

Book

Author/Creator:

Chattopadhyay, Utpal, author.

Bhawsar, Pragya, author.

Series:

SAGE Knowledge. Cases.

SAGE Knowledge. Cases

Language:

English

Subjects (All):

Hindustan Machine Tools Limited--Case studies.

Hindustan Machine Tools Limited.

Clock and watch industry--India--Case studies.

Clock and watch industry.

India.

Genre:

Case studies.

Physical Description:

1 online resource.

Place of Publication:

London : SAGE Publications Pvt. Ltd, 2017.

System Details:

text file

Summary:

Hindustan Machine Tools (HMT) Limited was incorporated in 1953 by the Government of India as a machine tool manufacturing company. In the later years, the company diversified into other products including watches. Its watch division, known as the HMT Watches Limited, started in 1961 with the support of Japan's Citizen Watch Company. Over the years, HMT made tremendous progress in all business dimensions to emerge as a market leader in the Indian watch industry. The company also earned the reputation of 'the time keeper of the nation' for its profound impact on the country's watch business. Hindustan Machine Tools established itself as a strong brand in the Indian market. However, post-liberalization in 1991, HMT's performance started dwindling. The policies of liberalization, privatization and globalization paved the way for the entry of many private brands, both domestic and foreign, into the Indian watch market that became hyper-competitive. The HMT management did not show enough agility to make necessary changes in its business models to cope with the changing business environment. Gradually, HMT lost its pole position to Titan Watches of the Tata Group. Hindustan Machine Tools inability to understand the needs of modern-day customers and its less-than adequate attention towards new product development made things even worse for the organization. With losses accumulating over the years, HMT became financially unviable. After several failed attempts to turn around, the government finally closed down HMT Watches in early 2016. This case portrays the long and eventful journey of HMT Watches and then analyses the major reasons behind its failure and highlights a few important strategic lessons for management students.

Notes:

Originally published in Chattopadhyay, U., & Bhawsar, P. (2017). Effects of Changing Business Environment on Organization Performance: The case of HMT Watches Ltd. South Asian Journal of Business and Management Cases, 6(1), 36-46. DOI:.

Includes bibliographical references and index.

No ILL or scholarly sharing allowed.

Description based on XML content.

ISBN:

9781526441102

OCLC:

1023551335

Access Restriction:

Restricted for use by site license.