Rahul bajaj
- 1. RAHUL BAJAJ
- 2. CHILDHOOD • 10 June 1938 • Marwadi family in kolkatta, the son of Kamalnayan bajaj • He studied in Cathodal and John Cannon school, Mumbai • He acquire his Bachelor of Arts degree from Stephens College, Delhi in 1958, majoring in economics and did his Masters in Business Administration from Harvard in 1964 • He works in Bajaj Electricals while studying law in Mumbai and also as a junior purchase officer in Mukand Iron and Steel. • Political relation
- 3. History • Bajaj Auto Limited is an Indian motorized vehicle- producing company. Bajaj Auto is a part of Bajaj Group. Its founded by Jamnalal Bajaj at Rajasthan in the 1930s. It is based in Pune, Maharashtra, with plants in Chakan (Pune), Waluj (near Aurangabad) and Pantnagar in Uttaranchal. The oldest plant at Akurdi (Pune) now houses the R&D centre Ahead. Bajaj Auto makes and exports automobiles, scooters, motorcycles and the auto rickshaw. • The Forbes Global 2000 list for the year 2005 ranked Bajaj Auto at 1,946. It features at 1639 in forbes 2011 list.
- 4. • In 1980’s although it was tough time to get licenses and permits, Rahul as a man with will power succeeded in establishing factories at Akurdi and Waluj. In 1980, Bajaj Auto was India’s topmost scooter manufacturing company. After enjoying a decade of success, Bajaj Chetak was launched. The sale of two-wheelers was at its peak due to oil crisis and two-wheelers were cheaper in price, maintenance and more fuel-efficient as compared to cars. There was a very high demand for Chetak and the waiting time for the scooter was unbelievably high as 10yrs. In 1996, Bajaj Auto was the only large Indian company without any foreign investment or partnership.
- 5. Journey • Rahul Bajaj retuned to India with plans of extension of business. Rahul Bajaj started working as the CEO of Bajaj Group at the young age of twenty-six in 1965 • He appointed chairman of Indian Airlines in 1984 • He was appointed chief executive officer of Bajaj Auto in 1968 and took over later as head of the Bajaj Group of companies. Bajaj Auto is India's premier two- and three- wheeler company. • Rahul Bajaj, an iconic, straight forward and outspoken entrepreneur of India, especially popular in manufacturing path-breaking two-wheelers, took up the reins as Chairman and Managing Director of Bajaj Group in 1965 as an inherited business.
- 6. • This was a fairly large responsibility for him. Rahul was made to involve himself in almost all departments in the company including key departments in the company like Marketing, Accounts, Purchase, and Audit etc. except manufacturing. The company was gaining prominence as the two-wheeler market had begun to expand exponentially. • A much bigger factory was needed to step up production, and eventually the factory moved to a sprawling premise, in Akurdi, Pune. The company, which had started manufacturing automobiles in a garage outside Mumbai, had finally arrived. • In 1972, Rahul's father passed away, and he became the Managing Director of Bajaj Auto. By this time, Firodia and the Bajajs had parted ways, and Rahul became the sole leader of the company, which was poised for tremendous growth.
- 7. • Bajaj was awarded the Padma Bhushan by the government India in March 2001. • Mr Bajaj has received numerous prestigious awards and recognitions, notable being the Padma Bhushan in 2001, Alumni Achievement Award by the Harvard Business School and Lifetime Achievement Awards from The Economic Times, Ernst & Young and CNBC-TV18. • Mr Bajaj was appointed Knight in the Order of the Legion of Honour by the President of France in 2011. He has been conferred honorary doctorates by four universities and IIT Roorkee.
- 8. • He comes from the business house started by Marwari businessman Jamnalal Bajaj. He is currently listed 34th on the Forbes list of richest people in India. Bajaj is married to Ruparani and the couple have two sons, Rajiv Bajaj and Sanjiv Bajaj and a daughter, Sunaina Kejriwal. She is married to Manish Kejriwal, who heads Temasek India. • He is the chairman of the board of many companies. He was elected to the Rajya Sabha in 2006. • Rahul Bajaj comes from the family of Jamna Lal Bajaj. Rahul is the grandson of Jamna Lal Bajaj, who founded the Bajaj Group
- 9. Business Plans • In June 2006, Rahul Bajaj was elected as a Rajya Sabha MP from Maharashtra. • Bajaj Auto is part of the Bajaj Group, which employs over 20,000 people with a turnover of over US $ 3.2 bn. The group manufactures and markets a range of products and services in India and abroad including two- and three-wheelers, home appliances, lamps, wind energy, special alloy and stainless steel, castings, cranes, forgings, infrastructure development, material handling equipment, travel, general and life insurance, and investment & financial services.
- 10. Golden advices to current students • "Integrity and character matter. Without them, no amount of ability can get you anywhere. In addition, you need courage; courage to make difficult decisions, for example, and courage to oppose something if your conscience tells you that you are right." Rahul Bajaj suggests MBA professionals to imbibe four essential qualities to succeed in the new millennium; Listen effectively, Think like an entrepreneur, Cross- functionality, Smart work combined with hard work.
- 11. • Over the last decade, the company has successfully changed its image from a scooter manufacturer to a two- wheeler manufacturer. Its product range encompasses scooterettes, scooters and motorcycles. Its real growth in numbers has come in the last four years after successful introduction of a few models in the motorcycle segment.3 Corporation Private Limited. It started off by selling imported two- and three-wheelers in India. In 1959, it obtained license from the Government of India to manufacture two- and three-wheelers and it went public in 1960. In 1970, it rolled out its 100,000th vehicle. In 1977, it managed to produce and sell 100,000 vehicles in a single financial year. In 1985, it started producing at Waluj near Aurangabad. In 1986, it managed to produce and sell 500,000 vehicles in a single financial year. In 1995, it rolled out its ten millionth vehicle and produced and sold one million vehicles in a year.
- 12. • He took over the reins of Bajaj Group in 1965. Under his stewardship, the turnover of the Bajaj Auto the flagship company has risen from Rs.72 million to Rs.46.16 billion. Rahul Bajaj created one of India's best companies in the difficult days of the licence-permit raj. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was top scooter producer in India and its Chetak brand had a 10-year waiting period • Rahul Bajaj is the Chairman and Managing Director of the Bajaj group, which has been named amongst India's top ten business groups. He is one of India's renowned industrialists and is internationally respected for his business expertise and entrepreneurial character
- 13. • He took over control of the Bajaj Group in 1965 and successfully established one of India's best companies. He established factories at Akurdi and Waluj. In 1980s Bajaj Auto was India's topmost scooter making company. After ten years of Bajaj Auto's success Chetak was launched. Bajaj Auto had to face many challenges with the liberalization of the Indian economy • The slump in the sale of scooters and the downfall of the stock market of 2001 hit the company hard. It was forecast by some business analysts that Bajaj industries would have to shut down soon. But without losing hope Rahul Bajaj with his business expertise re-established the battered company. He established another factory in Chakan, invested in R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is presently a leader in its sector.
- 14. Vision • Our efforts are constantly guided by following vision statements • To transform our knowledge and competencies to maximize profitability of our clients • To offer quality services with integrity, sincerity, expertise and professionalism to provide best value addition to our clients. • To offer personalized services that takes into account all the relevant details and the particular requirements of the clients so as to offer unparallel quality solutions. • To globally offer multidisciplinary compliance & advisory services under one roof.
- 15. Mission • Our mission is to create synergies through the amalgamation of various business values with a focus on • delivering value based services that result in the maximization of client worth and the enhancement of business prospect and growth. This mission is communicated to every member of the organisation. Systematic endeavors are made to ensure each employee's commitment to the organizational mission. Our core business values encompass Confident Leadership, Quality Service, Professional Ethics and Healthy Client Relationship. • We aim to provide customized accounting, financial and management consultancy services to clients located in India as well as globally. We aspire to be recognized as an Unparallel Quality Service Provider globally.
- 16. Career Planning • Rahul Bajaj was very much inspired by the famous Vespa scooters made by Piaggio of Italy and became the Indian licensee for the make in 1960. Bajaj Auto began manufacturing their first two-wheelers in the following year. In 1977 Piaggio of Italy, maker of vespa scooters filed patent infringement suit and blocked the sales of Bajaj scooters in United stated, United Kingdom, West- Germany and Honkong, after the expiration of technical collaboration agreement with the company. The export of Bajaj scooters was negated from Rs 133.2mn in year 1980-81 to Rs 54mn in year 1981-82. By the year 1970-1977, Bajaj Autos produced 100,000 vehicles, including the three-wheeler goods carrier early in the decade, the Bajaj Super and three-wheeled rear engine Auto rickshaw later.
- 17. • Rahul Bajaj received numerous awards for his great contribution to the Auto industry. Few among them are mentioned here: • In 1975, he received the "Man of the Year" award from National Institute of Quality Assurance. • Rahul Bajaj was appointed as Chairman of Indian Airlines in 1984. This was the first instance that someone from the private sector was given such responsibility. • Business India honored him as “Businessman of the year 1985”. • In 1988, Pune Municipal Corporation recognized him for his achievements. Bombay Management Association rewarded him for his service in the field of Management, in 1990.
- 18. • For his contribution to Indian industry, he was awarded the nation's third-highest civilian honor, the Padma Bhushan, in 2001. • He was listed twentieth on the Forbes "India's richest 40" list of people with a net worth of US$1.1 Billion • Economic Times and Est & Young bestowed their "lifetime achievement" awards on him in November 2004. • Rani Durgavati University conferred the degree of Doctor of Letters (Honoris Causa) in March 2005.
- 19. Success Mantra of Rahul Bajaj As a leader of success, Rahul Bajaj followed certain leadership traits and guiding principles for which he strictly adhered. Honesty paid him back Rahul Bajaj is one of the most admired businessmen in India. He strongly believes in hard work than anything else, and follows his beliefs. He has been a very honest businessman and never bribed others through out his career to achieve any personal gain or success. He built his fortune with his own ability and always walked in a right path.
- 20. CURRENT SITUATION • Today, Rahul is a content man, his company having achieved a 60% market share in the world's two wheeler market. His pioneering efforts have made Bajaj Auto the fourth largest two-wheeler manufacturer in the world. • Rahul has also contributed tremendously to the growth of the automobile industry in India. He has been the president of the Confederation of Indian Industry (CII) and the Society of Indian Automobile Manufacturers (SIAM). • His net worth is estimated to be at $1.5 Billion. He was listed twentieth on the Forbes India's Richest 40 people. The recession and stock market collapse of 2001 hit the company hard and it was predicted that the days of Bajaj Auto were numbered. However, Bajaj Auto reinvented itself, established a world-class factory in Chakan, invested in R&D and came up with Bajaj Pulsar Motorcycle. Bajaj Pulsar is currently a leader in its segment.
- 21. • Over the next 3 decades, Rahul ran the company with passion and élan, which left the industry astounded. He grew the company’s revenues to join the Billion-dollar club, and made the Bajaj Scooter the most admired and sought after "item" of all middle class households. • Rahul’s pet project - The Bajaj “Chetak” scooter was a huge success story. The Chetak had a 10 year waiting period at one point in time. Thanks to this, the black market prevailed, and a Bajaj scooter was available at a premium equivalent to its Price. • The monopoly did not last long, as companies like Honda and Vespa came up with their own products directly competing with the Bajaj scooter.
- 22. • Rahul also invested time and money in extensive R&D to ensure that his products were in no way inferior to competition. His efforts paid off, and Rahul had ensured that Bajaj retained its top spot in the scooter industry in India. • Rahul had his share of low points in his life. His parting with the Firodia's and the Italian automobile major Piaggio left a bad taste. • Rahul's spat with the Indira Gandhi Government is also a matter of record. The company suffered because of this, as they were not allowed to expand their facilities to keep up with the growing demand. The Union related problem at his factory, which turned violent, raised a few eyebrows on the Bajaj Management.