RAHUL BAJAJ

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BAJAJ GROUP OF INDUSTRIES

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RAHUL BAJAJ:

RAHUL BAJAJ By Harris Fazal

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KEY TO SUCCESS

RAHUL BAJAJ :

RAHUL BAJAJ Born on 10 th June 1938  at Bengal Residency , British India. Rahul Bajaj is a son of Rajasthani Businessman Jamnalal Bajaj who started Bajaj Auto in 1945. Rahul Bajaj went to The Cathedral and John Connon School. He graduated from St. Stephen's College in Delhi in 1958 with an honors degree in economics. He underwent on the job training for 4 years at two of the group companies. During that time, he also earned a law degree in Bombay. He is also an alumnus of the prestigious Harvard Business School in USA.

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Chairman, CEO Of Bajaj auto

FAMILY BACKGROUND :

FAMILY BACKGROUND Rahul Bajaj is a India born business tycoon He has one brother, Shishir Bajaj, with whom there was a recent business settlement ending the family dispute. He has 3 cousins, Shekhar, Madhur and Niraj together with whom he controls the Bajaj Group of companies. He is married to Ruparani and has two sons Rajiv & Sanjiv who are involved in the management of his companies and a daughter, Sunaina Kejriwal who is married to Manish Kejriwal

STARTING THE CAREER:

STARTING THE CAREER Given his family background- at the tender age of 12, he started dreaming of becoming a businessman. His grandfather had bought a steel mill and a sugar mill, and in 1945 his father founded Bajaj Auto, now the crown jewel in the Bajaj Group In the 1970s, India was a socialist state barred by rules and regulations. As a result, there was no entrepreneurship and nothing could be done without government approval. At this difficult time Bajaj became the CEO of Bajaj Auto Ltd. (BAL) in 1968 at the age of 30 making him one of the youngest CEOs of that time.  In this environment, the company was limited to produce just 20,000 units a year. Supply and demand didn't match. Hence, after placing their order, customers had to wait for roughly ten years to receive it. To lower costs while improving the price and quality of the products, he increased production to avail “Economies of Scale”. He ignored a government regulation and increased volume by more than the permitted 25 percent of his licensed capacity.  His grandfather had been known as the "fifth son" of Mahatma Gandhi and his parents and grandparents had spent time in British prisons for the sake of Indian independence.

ACHIEVEMENTS:

ACHIEVEMENTS He is the only top executive to have served two terms as president of the Confederation of Indian Industry (CII), which represents over 5,000 companies from India's private and public sectors.  He is a member of International Advisory Committee and his expertise in these matters are tapped by the New York Stock Exchange. For his contribution to Indian industry, he was awarded the nation's third-highest civilian honor, the Padma Bhushan , in 2002. He was nominated to the Rajya Sabha from Maharashtra in June 2006 with cross party support from the NCP, BJP and the Shiv Sena . He was said to be the 20th richest man of India according to the Forbes India poll on top 40 richest persons in India. The Government of India appointed Mr. Bajaj as the Chairman of the Development Council for Automobiles and Allied Industries, 1975-77.

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COMPANY ASSETS

COMPANY PROFILE:

COMPANY PROFILE Bajaj Group is among the top 10 Business houses in India. The Group manufactures and markets a range of products and services in India and abroad including 2 and 3-wheelers, home appliances, lamps, wind energy, special alloy and stainless steel, castings, cranes, forgings. Its businesses also cover the following sectors: infrastructure development, material handling equipment, travel, general and life insurance and investment & financial services. Market capitalization of the group at present is over US $ 8 billion. 

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For its performance, Bajaj Auto has received various awards including: The 1977 Export Award from the Federation of Indian Chambers of Commerce and Industry (FICCI). The 1985 Economic Times & Harvard Business School Association Award for Corporate Performance. CII Award for Quality and Reliability in 1984 & 1988 and for Technology and Innovation in 1985 For 1994-95 Bajaj Auto received the Engineering Export Promotion Council’s award for the highest exports of consumer durables nationally and the highest exports of engineering goods in the Western Region. Bajaj Auto received Dalal Street Journal's Corporate Excellence Award for 1990 & 1995 (Rank I). AWARDS

Obstacles and survival :

Obstacles and survival OBSTACLES AND SURVIVAL The initiation of Liberalization in India by the then PM Rajiv Gandhi posed great challenges for Bajaj Auto. It brought the threat of cheap imports and FDI from top companies like Hero Honda. Rahul Bajaj became famous as the head of the “Bombay Club”, which opposed this liberalization. The scooter sales dipped drastically, as people were more interested in motorcycles and the rival Hero Honda was an expert in it. In 2001, the Indian Economy faced a recession and the stock market collapsed. This hit the company hard and it was predicted that Bajaj Auto was soon going to shut down.

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CORPORATE SOCIAL RESPONSIBILITIES Throughout Bajaj's career spanning forty years at BAL, the company's commitment to corporate social responsibility has remained constant. Bajaj Auto has set up many “Philanthropic Trusts and Foundations” which support community and rural development in the areas where its workers live, through funding efforts in primary school education, agriculture, and health care. In the last 5 years Bajaj has been delegating many of his responsibilities to a team of younger executives. In last April, he was succeeded as managing director and CEO by his older son, Rajiv. Bajaj acknowledges there's still much he wants to do, particularly as India is on the verge of becoming a World Economic Power. According to him some lingering problems in India including an inadequate infrastructure, inflexible labor policies, and too much bureaucratic red tape need to be addressed.  But he believes in the long run, India will succeed, since the entrepreneurial spirit and capability of the Indian people will overcome all these issues.

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SPINOFFS AND AQUISITIONS The demerger of Bajaj Auto Ltd into three corporate entities—Bajaj Fiserv Ltd (BFL), Bajaj Auto Ltd (BAL), and Bajaj Holdings and Investment Ltd (BHIL)—was completed with the shares listing on 26 May 2008. In November 2007, Bajaj Auto acquired 14.5% stake in KTM Power Sports AG (holding company of KTM Sport motorcycles AG) The two companies have signed a cooperation deal, by which KTM will provide the know-how for joint development of the water-cooled four-stroke 125 and 250 cc engines, and Bajaj will take over the distribution of KTM products in India and some other Southeast Asian nations. Bajaj said it is open to taking a majority stake in KTM and is also looking at other takeover opportunities. On 8 January 2008, managing director Rajiv Bajaj confirmed the collaboration and announced his intention to gradually increase Bajaj's stake in KTM to 25%& continue to buy more share in KTM by 47% total by April 2012.

However, Bajaj Auto re-invented itself ::

However, Bajaj Auto re-invented itself : It established a world-class factory in Chakan. It invested aggressively in R&D. It came up with Bajaj Pulsar Motorcycle which is currently a market leader in its segment. Through a technological collaboration with Kawasaki, BAL improved the variety and quality of its motorcycles. It also altered its supply-chain management and outsourced almost every component used on the assembly line and relying on just-in-time deliveries.

"One important key to success is self-confidence. An important key to self-confidence is preparation." :

"One important key to success is self-confidence. An important key to self-confidence is preparation." THANK YOU