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Friday, January 27, 2023

Enabling ‘Businesses for the Future’ to Serve ‘Consumers of the Future’: The Mahindra Story

The world around us is at a crossroads. It is transforming at an exhilarating rate and is undergoing some of the most definitive changes most of us will ever experience. From climate change to technological disruptions, geopolitical tensions to digital shifts, economic upheavals and healthcare reforms, the transformations all around us are altering our present and our prospects for the future. It is also causing behavioral changes in the way we live, work and interact with each other and with the outside world.

Being at this intersection of change, we have a great responsibility because change, when not harnessed effectively, can increase inequality between people and affect vulnerable groups. With great transformative forces at work, this is also the time when people are highly dependent on business to meet their needs and expectations towards a better world and a bright future. Businesses play a crucial role in paving the way for an equitable world by reshaping their purpose to be relevant to the times in which we live. Today, companies are expected to create value and drive positive change in the lives of their consumers and enable them to grow as they expand. .

With a core philosophy of challenging conventional thinking and using resources innovatively to drive positive change, Mahindra is one of the global brands that has been working for an equitable world. Since its inception in 1945, the company has adhered to its ‘Rise’ philosophy that enables it to design future-proof products and create value for an equal world. Mahindra believes that only by driving positive change in the life of its community can it truly grow as a company. Mahindra’s Rise philosophy states who they are, how they operate, what they believe in and where they want to be.

As one of India’s most admired corporations with business in over 100 countries, Mahindra Group also recognizes the tectonic changes the world has been experiencing of late. Climate change, technological innovations, the need for inclusive growth and representation, among others, are redefining the way we live and as a forward-thinking company, Mahindra is revamping its ‘Rise’ message to make it more relevant. for the world we live in. .
His latest #TogetherWeRise campaign lends a modern voice to his 77-year legacy of values ​​and Mahindra’s unwavering belief that whatever is good for the world is good for business.
In fact, the #TogetherWeRise message is also a clarion call for all companies to look inward and enable ‘Companies for the Future’ to serve the ‘Consumers of the Future’ with the larger goal of making the world a better place. better for everyone.
Mahindra’s renewed ‘Rise’ philosophy is beautifully captured in a brand film that highlights what citizens of the future expect from companies. The film is narrated by young children and gives voice to their expectations of brands to create an equitable world. With this, it puts the spotlight on a variety of social problems that the world is facing together.

Today, companies are expected to stay on top of the mega-changes happening around the world. Mahindra’s #TogetherWeRise philosophy recognizes the changing world and has embraced three fundamental pillars to become a ‘Company for the Future’ to serve the ‘Consumers of the Future’. His three-point agenda is ‘Stand Up’: for a more equal world, be prepared for the future and create value.
Let’s take a look at how Mahindra incorporates these three pillars into its business.

Stand up for a more equal world
Today’s consumers hold companies accountable for their responsibilities to their community and society at large beyond their products or services. Therefore, one of Mahindra’s fundamental principles in the #TogetherWeRise philosophy is to pay attention to two of the biggest global concerns that companies must pay attention to: climate change and inclusion.

Climate change
Mahindra strives to ‘Stand Up’ against climate change and preserve our environment. His quest to take the planet positive route is leading to new green business endeavors and systematically transforming old practices. The entire Mahindra Group is committed to becoming Carbon Neutral by 2040 and is water positive at group level. It is also one of the first companies in India that is taking many steps on the environmental front. It is the first company to sign on to the EP100 global corporate energy efficiency initiative and adopt a carbon pricing model. In addition, Mahindra’s Igatpuri plant is also highlighted as India’s first carbon-neutral factory with no waste to landfill.

His focus on renewable energy is reflected in the founding of CERO, a Mahindra Group company, which is India’s first authorized vehicle recycler. Only in the year 2022, CERO recycled more than 4,000 vehicles in the country. In 2022, Mahindra also recorded a 55% increase in renewable energy consumption to achieve a cumulative renewable energy share of 12% in its electric power mix. Mahindra’s target now is to achieve 40% cumulative renewable energy share in the next year due to a 60 MWp captive solar power plant. On the global renewable front, Mahindra Ag North America’s (MAGNA) Houston facility recently switched to 100% renewable energy. Mahindra Lifespace Developers Ltd, the infrastructure and property development arm of Mahindra Group, announced the launch of India’s first Net Zero Energy residential project, Mahindra Eden, in Bangalore.

Mahindra has also been successfully executing its brand philosophy in terms of cars and components. In 2020, Mahindra Heavy Engines was the first Indian company to appear on EP100 in 2020. It was also the first Indian “automobiles and components” company to be included in the DJSI World Index for the second consecutive year.

Inclusion
As beautifully posed in the #TogetherWeRise brand film, an ideal world is one in which we can see the world through a genderless lens. As an equal opportunity employer, Mahindra understands the importance of diversity in the workplace and fosters an inclusive environment.

Mahindra Logistics has developed an inclusive policy to hire more women, members of the LGBTQIA community, veterans and people with disabilities (PwD).

On the automobile side, Mahindra has an impressive representation of women in the shop. Women managers and teams have worked on XUV700 and Scorpio-N projects. It also has dedicated assembly lines run by employees at its Swaraj tractor plant. More than 70 women work successfully at the Swaraj Tractors production facility. Mahindra is also the first automotive company to have launched women-only dealerships, the first of which is located in Delhi NCR. It is also the first to launch a women’s car service workshop in Jaipur. The paint shop at Mahindra & Mahindra’s Chakan plant is run mainly by female associates and managers.

She has designed several CSR projects throughout the country to support women. In the last fiscal year, Mahindra supported 1.5 lakh girls under the Nanhi Kali project. The total beneficiaries since the inception of the program are more than 5 lakh girls. Under the Prerna Project, a Mahindra initiative to support and empower Indian women in agriculture, 20,000 women farmers were empowered. Mahindra’s partnership with the ‘Bill & Melinda Gates Foundation’ marks a significant step towards achieving Mahindra Group’s ESG commitment to impact one million women annually by 2026.

It is also a signatory of the Valuable 500, which is a group of companies that supports PwD. He has made his social media handles more inclusive where all Mahindra social media posts carry image descriptions and captions to make them more accessible to people with disabilities. Many of the Mahindra group companies actively recruit PwD and place them in key operations after awareness sessions with other employees.

Rise Up To Be Future-Ready: Technology
The #TogetherWeRise philosophy understands that companies must enable future-proof and future-ready solutions to offer today’s customer. That’s why Mahindra is harnessing cutting-edge technology to improve the lives of its customers around the world with its #RiseWithTech vision.
Mahindra’s digital transformation journey began a few years ago when it made use of emerging technologies to create new business models and transform customer experiences across the diverse set of Group companies.

He pays close attention to strong cyber security, data privacy, and agility, while continually improving the customer and employee experience.

Tech Mahindra also launched ‘TechMVerse’, the company’s Metaverse practice, to deliver interactive and immersive Metaverse experiences to its customers. With this, you will also take advantage of the opportunities presented by the Metaverse through various use cases, including DealerVerse (metaverse-based car dealership), Middlemist (an NFT marketplace), MetaBank (a virtual bank), and a game hub.

Stand up to create value: Impact
Mahindra has been working to give back to the community and enrich their lives in various ways. Through her work and efforts around the world, she enjoys one of the most trusted customer bases.

This is reflected in the fact that Mahindra Finance has over 8 million customers, in 4 lakh villages and employs over 18,000 locals. It is the only NBFC of its size that lends money to new credit borrowers (NTCs). Mahindra Finance has been operating in rural India for over 25 years. Most of the loans disbursed by Mahindra Finance were for clients in villages with an average annual household income of less than Rs. 2 lakhs.
Mahindra Finance also helps people to build/rebuild/modify their homes through affordable housing finance solutions provided by Mahindra Rural Housing Finance Limited, secure their life and assets with insurance solutions provided by Mahindra Insurance Brokers Limited and offer options through its asset management subsidiary Mahindra Manulife Investment Management.

By providing the right set of opportunities and prospects in remote areas, Mahindra Finance has helped clients move forward. The company places a strong emphasis on customer centricity. Its customer base is spread across 4 lakh villages in India, with most of them belonging to the ‘Earn and Pay’ segment.
Under the three fundamental pillars of the Rise philosophy, Mahindra has also dedicated himself to working on other aspects, such as ethics, customer focus, innovation and entrepreneurship, among others. As a forward-thinking company that puts employees first, its set of business values ​​re-establishes that what creates value for people creates profit for companies; and what enriches the planet can also enrich companies.

To find out more about #TogetherWeRise and Mahindra Rise, click here.

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