Bajaj vs-hero-honda

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  • 2. CERTIFICATE This is to certify that Mr. Ankit Rana has completed his projectreport title “Comparative Study of Bajaj V/S Hero Honda” under mysupervision. To the best of my knowledge and belief this is his original workand this, wholly or partially, has not been submitted for any degree of this orany other University.Date: Mr. Rajesh Chawla ( Project Guide ) 2
  • 3. Vs. 3
  • 4. ACKNOWLEDGEMENT The research on “Comparative Study between Bajaj and HeroHonda” has been given to me as part of the curriculum in 2-Years BachelorDegree in Business Administration. I have tried my best to present this information as clearly as possibleusing basic terms that I hope will be comprehended by the widest spectrumof researchers, analysts and students for further studies. I have completed this study under the able guidance and supervisionof Mr. Rajesh Chawla I will be failed in my duty if I do not acknowledgethe esteemed scholarly guidance, assistance and knowledge. I have receivedfrom them towards fruitful and timely completion of this work.Mere acknowledgement may not redeem the debt I owe to my parents fortheir direct/indirect support during the entire course of this project. I also thankful to my friend who helped me a lot in the completion ofthis project. ANKIT RANA 4
  • 5. INDEXSr No. Particulars Page no 1. HISTORY OF BAJAJ - Profile 2. - Key Person - Bajaj Intro 7 - Company History - Timeline of new releases 3. HISTORY OF HERO HONDA 14 - Board of Directors - Company Profile RESEARCH METHODOLOGY 23 4. - Data Source - Research Approach - Sampling unit - Data Completion and Analysis - Scope OBJECTIVE OF THE STUDY 5. 25 ANALYSIS AND INTERPRETATION 6. 7. RECOMMENDATION 27 8. CONCLUSION 39 LIMITATION OF RESEARCH STUDY 9. 41 10. BIBLIOGRAPHY 43 5
  • 6. ANNEXURE 45 6
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  • 8. Auto limited is one of the largest two wheeler manufacturing company inIndia apart from producing two wheelers they also manufacture three wheelers.The company had started way back in 1945. Initially it used to import the twowheelers from outside, but from 1959 it started manufacturing of two wheelers inthe country. By the year 1970 Bajaj Auto had rolled out their 100,000th vehicle.Bajaj scooters and motor cycles have become an integral part of the Indianmilieu and over the years have come to represent the aspirations of modernIndia. Bajaj Auto also has a technical tie up with Kawasaki heavy industries ofJapan to produce the latest motorcycles in India which are of world class qualityThe Bajaj Kawasaki eliminator has emerged straight out of the drawing board ofKawasaki heavy industries. The core brand values of Bajaj Auto limited includesLearning, Innovation, Perfection, Speed and Transparency.Bajaj Auto has three manufacturing units in the country at Akurdi, Waluj andChakan in Maharashtra, western India, which produced 2,314,787 vehicles in2005-06. The sales are backed by a network of after sales service andmaintenance work shops all over the country.Bajaj Auto has products which cater to every segment of the Indian two wheelermarket Bajaj CT 100 Dlx offers a great value for money at the entry level.Similarly Bajaj Discover 125 offers the consumer a great performance withoutmaking a big hole in the pocket. 8
  • 9. Jamnalal BajajYear of Establishment 1926Industry Automotive - Two & Three WheelersBusiness Group The Bajaj GroupListings & its codes BSE – Code: 500490; NSE - Code: BAJAJAUTOPresence Distribution network covers 50 countries. Dominant presence in Sri Lanka, Bangladesh, Columbia, Guatemala, Peru, Egypt, Iran and Indonesia.Joint Venture Kawasaki Heavy Industries of JapanRegistered & Head Office Akurdi Pune - 411035 India Tel.: +(91)-(20)-27472851 Fax: +(91)-(20)-27473398Works • Akurdi, Pune 411035 • Bajaj Nagar, Waluj Aurangabad 431136 • Chakan Industrial Area, Chakan, Pune 411501E-mail 9
  • 10. PERSONS:Board of DirectorsRahul Bajaj ChairmanMadhur Bajaj Vice Chairman & Whole-Time DirectorRajiv Bajaj Managing DirectorSanjiv Bajaj Executive DirectorD.S. Mehta Whole-Time DirectorKantikumar R. Podar DirectorShekhar Bajaj DirectorD.J. Balaji Rao DirectorJ.N. Godrej DirectorS.H. Khan DirectorMrs. Suman Kirloskar DirectorNaresh Chandra DirectorNanoo Pamnani DirectorManish Kejriwal DirectorP Murari DirectorNiraj Bajaj DirectorCommittees of the BoardAudit CommitteeS.H. Khan ChairmanD.J. Balaji RaoJ.N. GodrejNaresh ChandraNanoo PamnaniShareholders’ & Investors’ Grievance committeeD.J. Balaji Rao ChairmanJ.N. GodrejNaresh Chandra 10
  • 11. H. KhanRemuneration committeeD.J. Balaji Rao ChairmanS.H. KhanNaresh ChandraRegistered under the Indian Companies Act, VII of 1913REGISTERED OFFICE Akurdi, Pune 411 035WORKS Akurdi, Pune 411 035 Bajaj Nagar, Waluj Aurangabad 431 136 Chakan Industrial Area, Chakan, Pune 411 501Bajaj Autos Ltd.Bajaj Auto LimitedType PublicFounded 1945Headquarters Pune, IndiaKey people Rahul Bajaj (Chairman) Rs. 1,01,063 billion (2006) or USD 1.87Revenue billionNet income Rs. 17,016 billionEmployees ???Website www.bajajauto.comBajaj Auto is a major Indian automobile manufacturer. It is Indias largest and theworlds 4th largest two- and three-wheeler maker. It is based in Pune, Maharashtra, withplants in Waluj near Aurangabad, Akurdi and Chakan, near Pune. Bajaj Auto makesmotorscooters, motorcycles and the auto rickshaw. 11
  • 12. historyBajaj Auto came into existence on November 29, 1945 as M/s Bachraj TradingCorporation Private Limited. It started off by selling imported two- and three-wheelers inIndia. In 1959, it obtained license from the Government of India to manufacture two- andthree-wheelers and it went public in 1960. In 1970, it rolled out its 100,000th vehicle. In1977, it managed to produce and sell 100,000 vehicles in a single financial year. In 1985,it started producing at Waluj in Aurangabad. In 1986, it managed to produce and sell500,000 vehicles in a single financial year. In 1995, it rolled out its ten millionth vehicleand produced and sold 1 million vehicles in a year.Timeline of new releases • 1971 - three-wheeler goods carrier • 1972 - Bajaj Chetak • 1976 - Bajaj Super • 1977 - Rear engine Autorickshaw • 1981 - Bajaj M-50 • 1986 - Bajaj M-80, Kawasaki Bajaj KB100 • 1990 - Bajaj Sunny • 1994 - Bajaj Classic • 1995 - Bajaj Super Excel • 1997 - Kawasaki Bajaj Boxer, Rear Engine Diesel Autorickshaw • 1998 - Kawasaki Bajaj Caliber, Legend(Indias first four-stroke scooter) • 2000 - Bajaj Saffire • 2001 - Eliminator, Pulsar • 2003 - Caliber115, Bajaj Wind 125, Bajaj Pulsar • 2004 - Bajaj CT 100, New Bajaj Chetak 4-stroke with Wonder Gear, Bajaj Discover DTS-i • 2005 - Bajaj Wave, Bajaj Avenger, Bajaj Discover • 2006 - Bajaj Platina • 2007 - Bajaj Pulsar-200Some of the models that Bajaj makes (or has made) are:Scooters o Bajaj Sunny o Bajaj Chetak o Bajaj Cub o Bajaj Super o Bajaj Wave o Bajaj Legend 12
  • 13. o Kawasaki Eliminator o Bajaj Pulsar o Bajaj Kawasaki Wind 125 o Bajaj Boxer o Bajaj CT 100 o Bajaj Platina o Bajaj Caliber o Bajaj Discover o Bajaj AvengerUpcoming Models • Bajaj Pulsar 220 DTS-Fi • Bajaj Krystal • Bajaj Blade • Bajaj SonicNew ImageThe company, over the last decade has successfully changed its image from a scootermanufacturer to a two wheeler manufacturer, product range ranging from Scooterettes toScooters to Motorcycle. Its real growth in numbers has come in the last 4 years aftersuccessful introduction of a few models in the motorcycle segment.The company is headed by Rahul Bajaj who is worth more than US$1.5 billion. 13
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  • 15. India has the largest number of two wheelers in the world with 41.6 millionvehicles. India has a mix of 30 percent automobiles and 70 percent two wheelers in thecountry. India was the second largest two wheeler manufacturer in the world starting inthe 1950’s with the birth of Automobile Products of India (API) that manufacturedscooters. API manufactured the Lambrettas but, another company, Bajaj Auto Ltd.surpassed API and remained through the turn of the century from its association withPiaggio of Italy (manufacturer of Vespa).The license raj that existed between the1940s to1980s in India, did not allow foreigncompanies to enter the market and imports were tightly controlled. This regulatory maze,before the economic liberalization, made business easier for local players to have aseller’s market. Customers in India were forced to wait 12 years to buy a scooter fromBajaj. The CEO of Bajaj commented that he did not need a marketing department, only adispatch department. By the year 1990, Bajaj had a waiting list that was twenty-six timesits annual output for scooters.The motorcycle segment had the same long wait times with three manufacturers; RoyalEnfield, Ideal Jawa, and Escorts. Royal Enfield made a 350cc Bullet with the only four-stroke engine at that time and took the higher end of the market but, there was littlecompetition for their customers. Ideal Jawa and Escorts took the middle and lower end ofthe market respectively.In the mid-1980s, the Indian government regulations changed and permitted foreigncompanies to enter the Indian market through minority joint ventures. The two-wheelermarket changed with four Indo-Japanese joint ventures: Hero Honda, TVS Suzuki, BajajKawasaki and Kinetic Honda. The entry of these foreign companies changed the Indianmarket dynamics from the supply side to the demand side. With a larger selection of two-wheelers on the Indian market, consumers started to gain influence over the productsthey bought and raised higher customer expectations. The industry produced moremodels, styling options, prices, and different fuel efficiencies. The foreign companiesnew technologies helped make the products more reliable and with better quality. Indiancompanies had to change to keep up with their global counterparts. 15
  • 16. OF DIRECTORSNo. Name of the Directors Designation1 Mr. Brijmohan Lall Munjal Chairman & Whole-time Director2 Mr. Pawan Munjal Managing Director3 Mr. Toshiaki Nakagawa Jt. Managing Director4 Mr. Takao Eguchi Whole-time Director5 Mr. Satyanand Munjal Non-executive Director6 Mr. Om Prakash Munjal Non-executive Director7 Mr. Tatsuhiro Oyama Non-executive Director8 Mr. Masahiro Takedagawa Non-executive Director9 Mr. Narinder Nath Vohra Non-executive & Independent Director10 Mr. Pradeep Dinodia Non-executive & Independent Director11 Gen.(Retd.) Ved Prakash Malik Non-executive & Independent Director12 Mr. Analjit Singh Non-executive & Independent Director13 Dr. Pritam Singh Non-executive & Independent Director14 Ms. Shobhana Bhartia Non-executive & Independent Director15 Dr. Vijay Laxman Kelkar Non-executive & Independent DirectorHero Honda Motorcycle Ltd.Type Public company BSE:HEROHONDA M 16
  • 17. January 19, 1984 in Gurgaon, Haryana, IndiaHeadquarters Haryana, India Om Prakash Munjal, Founder Mr. Brijmohan Lall Munjal, ChairmanKey people Mr. Toshiaki Nakagawa, Joint Managing Director Mr. Pawan Munjal, Managing DirectorIndustry AutomotiveProducts Motorcycles, ScootersRevenue U$ 2.8 billionWebsite HONDA HEADQUARTERSHero Honda Motorcycles Limited is an Indian manufacturer of motorcycles andscooters. Hero Honda is a joint venture that began in 1984 between the Hero group ofIndia and Honda from Japan. It has been the worlds biggest manufacturer of 2-wheeledmotorized vehicles since 2001, when it produced 1.3 million motorbikes in a single year.Hero Hondas Splendor is the worlds largest selling motorcycle [citation needed]. Its 2 plants arein Dharuhera and Gurgaon, both in Haryana, India. It specializes in dual use motorcyclesthat are low powered but very fuel efficient. 17
  • 18. Bikes • Hero Honda Splendor Plus • Hero Honda Passion Plus • Hero Honda Karizma • Hero Honda CBZ • Hero Honda Super Splendor • Hero Honda CD Dawn • Hero Honda CD Deluxe • Hero Honda Achiever • Hero Honda Glamour • Hero Honda Ambition Hero Honda "Splendor" ModelCompany Profile“Hero”, is the brand name used by the Munjal brothers in the year 1956 with the flagshipcompany Hero Cycles. The two-wheeler manufacturing business of bicycle componentshad originally started in the 1940’s and turned into the world’s largest bicyclemanufacturer today. Hero, is a name synonymous with two-wheelers in India today. TheMunjals roll their own steel, make free wheel bicycle critical components and havediversified into different ventures like product design. The Hero Group philosophy is:“To provide excellent transportation to the common man at easily affordable prices and 18
  • 19. provide total satisfaction in all its spheres of activity”. The Hero group vision is tobuild long lasting relationships with everyone (customers, workers, dealers and vendors).The Hero Group has a passion for setting higher standards and “EngineeringSatisfaction” is the prime motivation, way of life and work culture of the Group.In the year 1984, Mr. Brijmohan Lal Munjal, the Chairman and Managing Director ofHero Honda Motors (HHM), headed an alliance between the Munjal family and HondaMotor Company Ltd. (HMC). HHM Mission Statement is: “We, at Hero Honda, arecontinuously striving for synergy between technology, systems, and human resources toprovide products and services that meet the quality, performance, and price aspirations ofour customers. While doing so, we maintain the highest standards of ethics and societalresponsibilities, constantly innovate products and processes, and develop teams that keepthe momentum going to take the company to excellence in the new millennium”. Thisalliance became one of the most successful joint ventures in India, until the year 1999when HMC had announced a 100% subsidiary, Honda Motorcycle & Scooter India(HMSI). This announcement caused the HHM stock price to decrease by 30 percent thatsame day. Munjal had to come up with some new strategic decisions as, HMSI and otherforeign new entry companies were causing increased intensity of rivalry for HHM.== Growth == The business growth of Hero Honda has been phenomenal throughout itsearly days. The Munjal family started a modest business of bicycle components. HeroGroup expanded so big that by 2002 they had sold 86 million bicycles producing 16000bicycles a day. Today Hero Honda has an assembly line of 9 different models ofmotorcycles available. It holds the record for most popular bike in the world by sales forIts Splendor model. Hero Honda Motors Limited was established in joint venture withHonda Motors of Japan in 1984, to manufacture motorcycles. It is currently the largestproducer of Two Wheelers in the world. It sold 3 million bikes in the year 2005-2006.Recently it has also entered in scooter manufacturing, with its model PLEASURE mainlyaimed at girls. The Hero Group has done business differently right from the start and thatis what has helped them to achieve break-through in the competitive two-wheeler market.The Groups low key, but focused, style of management has earned the company plauditsamidst investors, employees, vendors and dealers, as also worldwide recognition.The growth of the Group through the years has been influenced by a number of factors:[ Just-in-Time ]The Hero Group through the Hero Cycles Division was the first to introduce the conceptof just-in-time inventory. The Group boasts of superb operational efficiencies. Everyassembly line worker operates two machines simultaneously to save time and improveproductivity. The fact that most of the machines are either developed or fabricated in-house, has resulted in low inventory levels. In Hero Cycles Limited, the just-in-timeinventory principle has been working since the beginning of production in the unit and isfunctional even till date.. This is the Japanese style of production and in India; Hero is 19
  • 20. the only company to have mastered the art of the just-in-time inventoryprinciple.[ Ancillarisation ]An integral part of the Group strategy of doing business differently was providingsupport to ancillary units. There are over 300 ancillary units today, whose production isdedicated to Heros requirements and also a large number of other vendors, which includesome of the better known companies in the automotive segment. Employee Policy:Another Striking feature within the Hero Group is the commitment and dedication of itsworkers. There is no organized labor union and family members of employees find readyemployment within Hero. The philosophy with regard to labor management is "Hero isgrowing, grow with Hero." When it comes to workers benefits, the Hero Group is knownfor providing facilities, further ahead of the industry norms. Long before other companiesdid so, Hero was giving its employees a uniform allowance, as well as House RentAllowance (HRA) and Leave Travel Allowance (LTA). Extra benefits took the form ofmedical check-ups, not just for workers, but also for the immediate family members.[ Dealer Network ]The relationship of Hero Group with their dealers is unique in its closeness. The dealersare considered a part of the Hero family. A nation-wide dealer network comprising ofover 5,000 outlets, and have a formidable distribution system in place. Sales agents fromHero travels to all the corners of the country, visiting dealers and send back dailypostcards with information on the stock position that day, turnover, fresh purchases,anticipated demand and also competitor action in the region. The manufacturing unitshave a separate department to handle dealer complaints and problems and the firstresponse is always given in 24 hours.[ Financial Planning ]The Hero Group benefits from the Group Chairmans financial acumen and his grasp ontechnology, manufacturing and marketing. Group Company, Hero Cycles Limited hasone of the highest labor productivity rates in the world. In Hero Honda Motors Limited,the focus is on financial and raw material management and a low employee turnover.[ Quality ]Quality at Hero is attained not just by modern plants and equipment and through latesttechnology, but by enforcing a strict discipline. At the Group factories, attaining qualitystandards is an everyday practice - a strictly pursued discipline. It comes from anamalgamation of the latest technology with deep-rooted experience derived from nearlyfour decades of hard labor. It is an attitude that masters the challenge of growth andchange - change in consumers perceptions about products and new aspirations arisingfrom a new generation o
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