MMA conducted a discussion on the theme of the book “The Review (In)Sight – Enabler for Execution Excellence” authored by Venkat Changavalli, CEO–IIB and former CEO of Symrise & EMRI. The event was held on 28 July 2025 at the MMA Management Center.
C.K. Ranganathan, Chairman & Managing Director, CavinKare Pvt. Ltd. and Past President of MMA; M. Annadurai, Executive Director & State Head and State Level Coordinator for the Oil Industry (TN & Puducherry), Indian Oil Corporation Ltd., and Dr. Rajeshwari Krishnamurthy, Professor of Practice – Marketing, Great Lakes Institute of Management, Chennai also participated in the discussions with the author.
Edited Excerpts
Venkat Changavalli
I must admit that I became an author because of MMA. I left Madras because of MMA, but whatever name and recognition I have earned in the last 20 years is also because of MMA. The turning point was December 2003, when Dr. A.P.J. Abdul Kalam came to MMA at the Taj Coromandel. I met him for the first time there, as a committee member.
What Will You Do Tomorrow?
I could never have imagined then that he would later invite me to Rashtrapati Bhavan, when I was CEO of EMRI, or that the President of India would one day come to my house for dinner. Over the next decade, I met him at least 50 times, and those ten years of association were phenomenal. I still remember January 10th, 2011, the night I left EMRI full-time. At 10:30 p.m., Dr. Kalam called me and asked, “What will you do tomorrow morning?” I said, “Shouldn’t you ask me why I left?” He replied, “That’s in the past and cannot be changed.” He then dictated to me: “From tomorrow, you will be a teacher. You will be a mentor. You will be an author. And you will work with governments for the benefit of people.”
From that moment on, I listened to him. In the last 15 years alone, I have delivered more than 676 lectures, conducted numerous training programs, and authored my first book Manage, Live and Lead. My message was simple—people know how to manage, but they don’t always know how to live; and unless you learn to live, you cannot lead. I had the privilege of giving the very first copy to Dr. Kalam himself, touching his feet on 8 September 2014.
Ten years later, I brought out my second book, BL 2 BM. On my 70th birthday, I launched this book. The idea was rooted in my own journey—from studying in a benchless school to becoming a benchmark. I wanted to leave behind a legacy, to show how childhood shapes your choices, how primary schooling influences your entire life, and how each job adds to your growth. I also reflected on my 20 years of working with 16 different governments, and finally on the importance of family in becoming a benchmark. You may go through ‘benchless’ phases in life, but with family support, you can rise to become a benchmark. During the COVID years, I produced 180 videos, each about four minutes long, covering management topics, life skills, and leadership. These videos were created with one aim—to educate and inspire.
Execution is the Litmus Test
I have served as a CEO for 31 years—since 1994 till today—and have also been an advisor to six state governments and chief ministers. Through these diverse experiences across the private sector, the non-profit space, and government, I realised one universal truth: execution is the ultimate litmus test for success. Nothing else matters as much. Fortune magazine, back in June 2000, reported how 500 CEOs lost their jobs despite their intellectual brilliance, analytical acumen, conceptual clarity, and communication skills. They failed because they could not execute.
Execution has been the critical differentiator in my own journey. At Symrise, I witnessed growth from ₹2 crores to ₹130 crores; at EMRI, we scaled from one ambulance to 3,300 ambulances across states. I worked in regions like Uttar Pradesh where many said I wouldn’t succeed. But execution meant that when someone dialled for help, the ambulance had to reach on time—no excuses. Leaders must understand this: execution is not optional. It is not a separate department sitting next to the CEO, as in the old days. Execution is strategy in action, and it must be embedded in the culture of the organization. I remember picking up litter myself at the factory in Symrise, because small acts set the tone for discipline and ownership.
The Power of Reviews
Over time, I learned that execution is the sum of many things: clarity of strategy, effective communication, timely decision-making, coordination across teams, IT support, and above all, adaptability to changing realities. The most powerful tool I discovered was the discipline of regular review meetings. In my 31 years, I have conducted more than 370 monthly reviews, always during the first week of the month. Meetings began at 9:30 a.m.—and ended when they had to. I often spent long hours with the first person, knowing that the lessons were just as relevant for everyone else in the room.
From three decades of such reviews, I am convinced: they are the cornerstone of success. Reviews clarify action plans, assign accountability, surface hidden problems, and resolve conflicts. They provide feedback, motivate teams, build cohesion, and accelerate learning. In short, they transform strategy into results. Unfortunately, this practice has not been written about or documented enough. I feel it is my responsibility to share these insights—because without execution, even the best ideas remain only on paper.
In this book, 18 authors have come together. I am the lead author, and 17 others who reported to me over the past 31 years have each contributed their experiences. They have described how they struggled in review meetings, how they grew through them, and what they ultimately gained. Whether in government, private sector, or the non-profit space, the common factors that emerged are remarkably consistent.
A young man I mentored when he was just a medical representative at MSD Pharma. Years later, he became the Managing Director of MSD, and today he is the Chairman of Punjab National Bank. In this book, he writes about how, when he became MD, he asked me to mentor all 32 members of his organisation. That is the power of passing on knowledge.
What is Your Legacy?
I owe a great deal to the Sringeri Shankaracharya. Every time I meet him, he asks me only one question: “What is the project you are working on?” And he always adds, “I pray that God gives you health and strength to serve others.” Those words have stayed with me. I often feel that HR people have confused us with this phrase called work-life balance. What is life unless you define it? Life is not just work—it is you, your family, and something beyond both. If life is a triangle, with work as the base, self on one side, and family on the other, there is also a centre point that must grow along with you—the contribution you make to someone outside of yourself. Do you also help in the success of others who are not connected to you? That, too, is life.
I remember my father once asked me to join a non-profit organisation EMRI run by Ramalinga Raju. I first said, “No.” At that time, I had just been part of the MMA Annual Convention and had prepared its governance document. By then, my sons had gone abroad, my wife had her gold, and we had built our homes. My father reminded me: “All this will not be remembered when you leave this world. What will matter is what you have done for someone you did not know, who was not related to you. Even if you give a fraction of your knowledge, skill, money, or time, that is what will be written in your obituary.” That advice shaped me deeply. And it is why I write these books—to share with people I may never meet, so that they can learn and grow.
The Qualities of a Reviewer
I owe much of who I am today to Dr. Kalam and to the chief ministers I have had the privilege of working with. From them I learned not only leadership, but also the value of courage and clarity in decision-making. When I reflected on the essential qualities of a reviewer, several themes emerged. A reviewer must be agile and flexible, able to adapt to changing situations. He must demonstrate strong managerial skills—clear decision-making, sound judgment, and the ability to listen. Above all, he must embody respect. For instance, if a man does not know how to respect women, he cannot be a great reviewer, because respect is the foundation of leadership. A reviewer must also be a visionary and an innovator; without vision and innovation, reviews become routine rather than transformative.
Leadership styles influence the way reviews are conducted. A coercive leader makes review meetings harsh and one-sided. A pace-setting leader simply says, “I did it this way, so you should too.” A coaching leader, on the other hand, uses reviews to mentor, guide, and build people. The reviewer’s style shapes whether the meeting becomes a forum for fear or a platform for growth.
Taking Part in Reviews by CEOs and CMs
My own experience across governments reinforced this. In many review meetings, I saw people arrive late, or worse, stay silent while only one person spoke. But real review means dialogue. I remember on 14th August 2007, when Chief Minister Rajasekhara Reddy announced full funding for ambulances, I raised my hand and asked a question. The bureaucrats next to me whispered, “Don’t raise your hand before the CM. Just listen.” But I asked anyway: “Sir, if you fund 100%, will I still have freedom in recruitment, procurement, and operations? Or will the ambulances only serve your people?” He replied, in front of 30 others, “Of course, you will have full freedom.” Later, when I met Modi, when he was the Gujarat CM, I asked the same question, and he too said yes. That is how I secured freedom to operate in all 12 states—not by staying silent like others, but by asking the right questions in the review meeting.
In my book, I also wrote about the three bosses who influenced my journey—my German boss at Symrise, Ramalinga Raju at EMRI, and Mr. Panda at IIB, who recently retired. Each had a distinctive style of reviewing, and I learned something valuable from all of them. I also reflected on the approaches of four chief ministers—Dr. Rajasekhara Reddy, Akhilesh Yadav, Narendra Modi, and Chandrababu Naidu—and how differently they conducted review meetings. The most important takeaway for me was the discipline of keeping notes. Writing things down at the end of a review is not just a formality—it is a way of ensuring clarity, accountability, and follow-through.
Leadership skills are central to being an effective reviewer. Visionary leaders are pioneers—they see opportunities where others see obstacles, and they act decisively, often with limited resources. That is why Indian entrepreneurs are able to grow with such speed and scale. Another vital managerial skill is consultation. Sadly, I notice that many Indian managers in their 30s today undervalue it. Throughout my career, I benefitted greatly from consulting with colleagues, mentors, and external experts—from McKinsey to EY. These interactions challenged my thinking, reduced risks, and catalysed meaningful change.
Five Key Messages
I have five key messages. First, the review process is not about fault-finding; it is about collective problem-solving where the entire organisation learns and grows. Second, it is not just an assessment tool; it is a catalyst for transformation, fostering a culture of excellence, continuous learning, and accountability. Third, reviews must be disciplined yet relaxed. Discipline and openness can go hand in hand. Fourth, every review meeting should distil complex and unclear issues into clear, actionable steps. And finally, the most enduring lesson I have carried from 31 years as a CEO is to remain simple, humble, honest—and, whenever possible, a little humorous.
Panel Discussion
C.K. Ranganathan: Ideally,reviews are not about fault-finding, but about helping the team find solutions, identifying opportunities and charting the way forward. Unfortunately, many organizations still conduct ‘enervating’ reviews where the boss shouts at the team for small lapses, leaving people dreading the next meeting. In contrast, great leaders make reviews something their teams look forward to, because they know they will learn, grow, and find solutions. That is why such leaders are remembered with respect, and why so many people who worked with Venkat not only advanced in their careers but also grew personally.
One thing Venkat emphasised was that review meetings should never be constrained by arbitrary timelines. Getting into depth and truly solving issues takes time, and rushing only leaves gaps. While I personally ensure meetings end on time, I created a practice called Discovery Sessions—separate deep-dive meetings with not only senior managers but also their second and sometimes third lines. This open environment allows insights to emerge directly from the people closest to the ground realities. These sessions often help course-correct strategies and uncover new growth opportunities.
I remember in the early days when monthly sales reviews covered only top-level managers, the impact was limited. But when we brought in all the sales representatives, travelling and spending a full day together, the transformation was remarkable. Within a few months, the ground-level insights they shared drove significant change. I also recall when Venkat, then CEO of Symrise, came to me saying he had read about Southwest Airlines’ low-cost strategy and wanted to share it with my team. His presentation was an eye-opener, and even today—more than 20 years later—I still refer to the lessons from that session.
Ultimately, execution comes down to follow-through. Reviews are valuable only when action points are clearly documented and tracked. Today, technology makes this much easier. In our office, we use Teams for meetings, often with Microsoft Copilot enabled. It acts as an excellent note-taker, capturing key points and follow-ups with precision. If leaders can harness such tools effectively, it will go a long way in strengthening the culture of execution.
M. Annadurai: In my career, I must have gone through at least 3,000 reviews, if not more. We have been closely connected, as EMRI draws fuel from nearly 2,500 of our petrol pumps across the country through a seamless single-payment, loyalty-based system with Indian Oil. I recall, years ago, when I headed that initiative, EMRI was our biggest retail customer, making annual payments of over ₹1 crore. Looking back, the scale of EMRI’s success is as remarkable as Aadhaar or the COVID vaccination drive. In a country as vast and complex as India, reaching every corner is no small challenge, and yet EMRI made it happen. Even in my own family, when my mother fell ill in a village near Karur, it was 108 that came to her rescue. Millions of families across India can say the same, and for that, we are grateful to Venkatji.
Let me also share from my own experience as Executive Director of Indian Oil during my Gujarat tenure, when a cyclone struck two years ago. As the storm built up, we held daily reviews for almost 10 days in advance. During one such review, a regional head from Rajkot highlighted a crisis: the Indian Coast Guard urgently needed aviation fuel at Oka, near Dwarka, to rescue 50 workers stranded on an offshore rig. Moving a refueler 250 km through cyclone-hit areas, with poor visibility and heavy rains, seemed nearly impossible. But we escalated it to our aviation division, and by 3 a.m., the fuel reached Oka. The Coast Guard helicopters flew seven sorties and rescued 49 people. Later, the commanding officer, Inspector General A K Harbola, recorded in the documents: “Indian Oil’s 980 litres saved 50 lives.” Our chairman personally travelled to honour that team.
The lesson is clear—without the review process, the delay could have been fatal. Reviews save lives, not just time. That said, frequency matters. I have worked under bosses who were review fanatics—holding 20 reviews a day, leaving no time to actually work. Execution depends on reviews, but reviews must be done with judgment—deciding how many, when, and what to ask. These are critical choices. I often reflect on whether I am over-reviewing and denying my people time to execute. That balance is delicate.
Dr. Rajeshwari Krishnamurthy: I come from academia, where review is an integral part of the publishing process. We spend years going through reviews, and yet manuscripts can still be rejected. So, I understand the importance of reviews. But having also spent 15 years in the corporate world, I wonder: if reviews are so valuable, why is it that many corporates still don’t give them the importance they deserve? My second question is—among government, corporates, and NGOs, which in your view conducts the best reviews?
Venkat Changavalli: That’s a very important question. The truth is, review requires courage. It requires guts. You have to face your people. Those who can’t handle uncomfortable questions avoid reviews, because subordinates will ask about resources, about knowledge, about collaboration, and raise many issues that need clarification. If the leader lacks the courage to face this, he will avoid reviews. Hesitation comes not from the competence of the team, but from the incompetence of the reviewer. A true reviewer must commit to reviews at regular intervals and accept that the process is not about fault-finding—it is about helping people grow higher.
Now, as for which sector does reviews best, I would say there is no fundamental difference: a review is a review, leadership is leadership. But in fact, better leadership is needed in government and non-profits than in corporates. In FMCG, if one soap company fails, a customer can simply buy another brand. But in a non-profit, if an ambulance doesn’t arrive, the patient has nowhere else to turn. At IIB, if my system fails when a customer wants to insure a vehicle, there is no excuse. Execution in non-profits is critical because you are serving a cause and the person you serve has no alternative. That demands a larger spectrum of leadership—vision, strategy, innovation, and execution—working together.
Unfortunately, in India, non-profits often escape review. As long as someone appears with a jute bag, a kurta, and a sandalwood paste on the forehead, they are accepted as social workers, without anyone asking what they actually deliver. But true non-profits stand tall because they built strong governance processes. I still recall the governance document we worked on in 2002–03 for MMA and that is why MMA has sustained and grown.
Reviews, in fact, are part of life itself. A good head of a family reviews every family event, be it a marriage or any major decision. We may not call it a review meeting, but that’s what it is—checking, clarifying, and planning together. Two things are always required: the guts to review, and the realisation that without reviews, things will go wrong.
C K Ranganathan: At CavinKare, we did monthly reviews, but over time my learning has been that weekly reviews, done by exception, are far more effective. By exception means you don’t review everything. You focus where the data shows either a struggle or a standout success. From the struggles, you find solutions; from the successes, you learn how to scale opportunities.
Another critical aspect is that when numbers stagnate or targets are repeatedly missed, the review highlights that something is missing in the measures being tracked. As John Doerr wrote in Measure What Matters, choosing the right metrics makes all the difference. For instance, in our supply chain, we began focusing on DIFOTIS—Delivery In Full, On Time, In Spec. With hundreds of SKUs, this was extremely difficult, but once we measured it week on week, performance moved from about 64–65% to nearly 97–98%. That shift reduced lost sales, which earlier ran into crores every week, and it happened because we identified the right measures and cascaded them down the line. This is where structured reviews became the driver of efficiency and execution.
The same applies to innovation. We started measuring insights. It wasn’t enough for someone to say, “I went to the market and met 50 customers.” The question was: What idea did you bring back? If you returned empty-handed, you weren’t observing enough. By challenging teams this way, we built a culture where people consistently came back with new ideas. We then rated these ideas using a simple system—10 grams, 100 grams, and 1,000 grams—to differentiate incremental improvements from breakthrough innovations. And we made sure to back the 1,000-gram ideas with full force. That is how reviews, focused on measuring what truly matters, helped us drive both execution and innovation.
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