ABSTRACT
Unrelenting losses under private management, government takeover, voluntary retirement scheme for workers, financial as well as organizational restructuring which included development of competitive advantage by unleashing the power of entrepreneurial spirit of the employees through formation of autonomous worker cooperative societies, and ancillaries to manufacture and supply components, and the consequent turnaround are discussed in the case. It deals with a unique, highly innovative, and untried approach adopted by the new managing director to solve the problems facing the company.
