An iconic businessman and recipient of AIMA’s Lifetime Achievement Award 2021, Mr. Harsh C. Mariwala, Chairman of Marico Limited, is a renowned thought leader on entrepreneurship and management, a multiple brand builder, and the author of Harsh Realities: The Making of Marico. During one of AIMA’s 66th Foundation Day sessions, he shared insights from his entrepreneurial journey.
Mr. Harsh C. Mariwala stepped away from his family business to enter the consumer goods market and build Marico into one of India’s leading brands. Reflecting on the early 1970s, when businesses required government licences to operate, he recalled that entrepreneurs often had to travel to Delhi and engage in lobbying. He admitted that he was never comfortable with such practices, nor did he enjoy B2B business, where relationships often depended on entertaining buyers. Instead, he preferred interacting directly with traders and consumers. He began by growing the business on a smaller scale in Maharashtra and Gujarat.
Without a mentor to guide him, he took one small step at a time. He observed that competition is inevitable, and for entrepreneurs to succeed, their companies must have a clear differentiator. According to him, that differentiator comes from innovation. He emphasised that market leadership has been instrumental in Marico’s growth. He also highlighted the importance of building a strong organisational culture and attracting talented people. Retaining talent, he said, is not only about offering competitive salaries but also about investing in employees through continuous learning and development. Equally important is creating a workplace where people genuinely enjoy their work.
Mr. Mariwala stressed that good governance is another essential pillar of business success. As he put it, “If you start taking shortcuts as an entrepreneur, people in your company will start taking shortcuts too.” He explained that ethical leadership sets the tone for the entire organisation and that long-term success depends on sowing the right seeds from the beginning.
He further explained why building a strong organisational culture became a priority for Marico. When the company was established, it recruited 30–40 managers in a short period, each bringing different leadership styles and beliefs. The organisation soon became a melting pot of diverse work cultures. This made him realise the importance of creating a unified culture. Together with his leadership team, he defined the company’s core values. While identifying those values was relatively straightforward, translating them into everyday behaviour proved far more challenging. Consistently reinforcing those values eventually helped build a strong culture that supported the company’s long-term growth.
Mr. Mariwala also spoke about the value of recruiting people from diverse backgrounds, empowering them to make decisions, and encouraging them to experiment and take calculated risks. Marico also introduced internal innovation awards to recognise and promote creative thinking throughout the organisation.
Addressing the challenge of retaining talent as companies grow, he noted that employees who play a crucial role during the early stages of a business may sometimes struggle to adapt as the organisation expands. If senior leaders fail to evolve with the changing needs of the business, it can lead to frustration and demotivation. In such situations, he believes leaders must always put the organisation first while handling transitions with fairness, transparency, and compassion.
He also recalled Marico’s intense competition with Hindustan Lever Limited (HLL) over the coconut oil market, particularly between Marico’s Parachute brand and HLL’s Nihar. With HLL’s strong market presence and advanced distribution network, Parachute faced significant challenges, and at one stage, HLL even attempted to acquire the brand. Mr. Mariwala described how Marico strengthened every aspect of its business to compete effectively, ultimately regaining market leadership and later acquiring Nihar itself—an achievement that marked a significant milestone in the company’s journey.
Concluding his address, Mr. Mariwala spoke about Corporate Social Responsibility (CSR) and introduced the concept of Personal Social Responsibility (PSR). While companies have a responsibility to contribute to society, individuals also have a personal duty to give back. For him, meaningful contribution goes beyond financial donations; it involves dedicating time, energy, and genuine passion to causes that matter. He has chosen to focus on entrepreneurship and mental health. Through the ASCENT Foundation, he mentors entrepreneurs in overcoming business challenges, while the Mariwala Health Initiative works to make mental healthcare more accessible to underserved communities.
Watch the full session – https://www.youtube.com/watch?v=UOuC9_2w11I
