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Word Count: 736
Summary The article Lijjat Papad describes the successful entrepreneurial venture set up by seven semiliterate women from a small community in rural India The article gives an account of the setting up and functioning of the Sri Mahila Griha Udyog Lijjat Papad SMGULP It charts the growth of the organization and shows how it became worth Rs 3 billion in four decades The objectives of the organization and its core values and principles have also been discussed This is a unique organisation A perfect rag to riches story It is an organisation that worlds best B-schools study Shri Mahila Griha Udyog Lijjat Papad - the makers of the spicy indian bread A little background of this organisation - Started with a modest loan of Rs 80 2 CDN the cooperative now has annual sales exceeding Rs 301 crore Rs 31 billion 75250000 CDN With no idea of complex business models the Lijjat ladies keep things simple 1 Money management - One day at a time All the accounts are squared off on daily basis and transactions done in cash No credit is asked for and none is extended Distributors and exporters pick up their requirements on a daily basis against immediate payment Even Lijjats own branches have to pay the head office in cash for materials used everyday Everyone including the president is paid a vanai or a daily wage All the members are equal owners and share profits equally at the end of the year 2 Workforce - Transparent corporate democracy Everyone at Lijjat begins as a papad roller President Jyoti Naik joined as a papad roller herself Its taken them 43 years to grow from a group of seven to a 42000-strong organisation This organisation is entirely owned by women majoirty of whom are illitrate The president of the organisation is selected through voting and with everybody consent all the members of the organisation are a part of selection process
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