CORPORATE RISK MANAGEMENT Essay Example | Topics and Well Written Essays - 1000 words

CORPORATE RISK MANAGEMENT - Essay Example Organizations bring about a generous measure of cost in the administration of the dangers (Ridley and Channing, 1999). Organizations employ specialists so as to relieve the dangers related with its activities. The measure of hazard to be relieved fluctuates from organization to organization and activity to activity. The reliance is connected with the power of the hazard as the hazard will be high when it influences the company’s activity at greatest (Agrawal, 2009). Despite the fact that the hazard is connected with each activity of the organization yet there are some sure territories wherein the worry of the hazard is generous and companies’ need to concentrate more upon those. The expenses related with hazard the executives is reliant upon both, the force of the hazard and the estimation of that chance. The power and worth will in general vary in each activity and each organization. A few organizations are more worried about stock out than different though a few organ izations are more worry about the end in the company’s tasks. The administration of hazard is completed with most extreme concentration and significance when a speculation is to be made. A choice to browse numerous speculations is to be made and as a rule the venture related with least hazard is favored over others. The fundamental objective of an organization is the amplifying the abundance of its investors. An organizations deals with all hazard in such a way, that the organization isn't crashed from its encouraging towards its objectives. For the pharmaceutical organizations the force connected with the danger of the new medication is a lot of extreme as it has numerous ramifications of the individual enactments (Ncbi.nlm.nih.gov, 2013). The high power of hazard requests high hazard the executives as in the disappointment of dealing with the hazard will be prompting the conclusion of the organization. Pharmaceutical organizations have more hazard power than that of differe nt organizations as the results of the organization is meds and along these lines more noteworthy limitations and guidelines are concerned them (Brown and Mannan, 2004).â . Expenses in chance administration are both subjective and quantitative according to the targets of the organization. Organizations enlist master in the board and they assess the systems and the dangers associated with it and therefore need to acquire costs as far as pay rates of the employed specialists. The organizations bring about expense as immediate pay rates yet the time that is expended in the process is the cost that the organization bear as far as delay in the determination models as the time estimation of cash is viewed as breaking down. In transient this expense is critical as the time is short as when the determination is done and the organization needs to over go with the chose alternative and complete the methodology. Though over the long haul the expense of deferring as due to the time taken in th e evaluations and determination is viewed as significant also where the disintegrating estimation of cash is considered over the time (Jorda?o and Sousa, 2010). Hazard the executives is worried about the estimation of the hazard and the force of the hazard which is a tedious strategy (Krause, 2006). The profits upon the task hazard is related with the market pace of return. The examination between the two is done so as to evaluate the venture. There are high probabilities in specific situations where the organization sees the venture plausible as less hazardous and a short time later due to the

Human resource mgt Essay Example | Topics and Well Written Essays - 1500 words

Human asset mgt - Essay Example In an exploration paper (Geary, 1992) was reproachful of these presumptions. He found that administration's dependence on transitory representatives offered ascend to various logical inconsistencies and strains, and at long last was viewed as disadvantageous. A significant favorable position of adaptable human asset rehearses is the minimal effort of work as refered to by (Smith, 1998) in his article. In his examination he presumed that a bigger extent of remote claimed organizations had lower work costs because of the more noteworthy utilization of adaptable work rehearses. The use of the most adaptable work life balance strategy expands the devotion of representative as well as increment the notoriety of the organization as best places for business. (Dex and Scheibl, 2001) Mostly ladies don't think that its perfect to work in the specialized field because of their consideration taking obligation towards their family along these lines a colossal measure of ability is drop out of the ability pool. Because of the adaptable condition by the firm a more extensive enlistment pool can be made accessible. (Place for Ethical Business Cultures, 1997; Evans, 2001) With giving the representatives the offices of adaptable working hours the firm can likewise get the advantage by offering expanded help hours for the clients. Since in this time of rivalry and expanded client pressure so as to accomplish a bleeding edge in the business it is significant for a firm to give all day, every day administration (Evans, 2001; Human Resources Development Canada, 2002). The arr angements of administration for longer hour's won't just improve the corporate picture yet will furnish the firm with expanded piece of the overall industry (Dex and Scheibl, 1999; Center for Ethical Business Cultures, 1997; Evans, 2001). With undertaking the adaptable work rehearses there are likewise a few regions which ought to be tended to by the administration so as to viably attempt human asset rehearses. Investigations of probably the best United States and Australian associations (Gray, 1992) likewise recommend that the concrete which ties talented and spurred workers to their association, who are in this way progressively eager, more dedicated and possibly more profitable than their rivals' representatives, is clear and continuous correspondence between association chiefs and their representatives. The administration of the SFL ought to likewise exploit the correspondence procedure all together accomplish the more elevated level of execution from the representatives. A cutting edge and a progressively changeless way to deal with inspiration are through occupation advancement (Wright, 2004). This includes placing importance into employments. As it were, it is placing Herzberg's two-consider hypothesis impact by building inspirations into the activity. These inspirations incorporate accomplishment, development, duty, progression and acknowledgment. This methodology can likewise work for SFL staff. As per the methodology the association should plan to change the activity substance of the representatives so as to inspire them as clarified by Ross (1998) in his article A useful

Classes 2.0

Classes 2.0 Here’s to a basically mid-semester check-in to what I spend my time doing. I waited because I naively hoped that life would settle down into a rhythm before I profile it, but also because I was procrastinating as bloggers do. Probably primarily the latter. 6.009 Fundamentals of Programming I made that cat black and white and blurry (on purpose)! That was me! Mind you, this was the very first problem set. About a month and half in now, it’s safe to say that I will have learned a lot by the end of this semester. Perhaps even enough to compensate for the fact that my Sundays have been renamed “Day of 6.009 Office Hours.” 6.006 Introduction to Algorithms This class focuses on “mathematical modeling of computational problems,” which basically means runtime and common algorithms, like merge sorts and Dijkstra’s shortest path. I fluctuate in this class from really feeling like I have a grasp on the material to feeling like the professor is speaking a foreign language. This bipolarity often occurs within the same lecture, but if I sit in office hours for enough time, it sometimes starts to make a little sense. 7.012 Introduction to Biology Every year, registration for this class is lotteried probably because Professor Eric Lander, one of the leads on the Human Genome Project, is a lecturer for the class. The best part is I have the opportunity to take him out to dinner through the Student-Faculty Dinner, assuming we can fit into his busy schedule. Currently debating whether it’s too weird to ask for an autograph or something. ES.S41 Nonviolence as a Way of Life This class is taught under the MIT Prison Initiative, with philosophy Professor Lee Perlman, and philosophy it is. We’ve spent entire classes focused on the word forgiveness, discussing it objectively and subjectively, defining it meticulously, and creating counterexamples that take us right back to square one. I take this class with the inmates of the Norfolk medium security prison, who are often serving very long or life sentences for their crimes. To hear an MIT student’s perspective is interesting, but to hear a gang leader’s opinion on nonviolence is something else. For them, the parallel experience of hearing our perspectives and similarities with their thoughts have surprised them as well. It’s a five hour block every Thursday, given transportation and processing time, but this is probably (hopefully) the only context in which I’ll ever set foot in prison, and that experience has already been profound and educational in more ways than simply discussing the readings of Gandhi on campus. My plan is to post more in depth about this in the future, after I figure out the boundaries of privacy and legality (someone hold me to this). 13.Ballroom In an attempt to gain some semblance of body awareness, I’ve found a new hobby (yay for things besides psets)!! This weekend, I’m competing (so soon wowza) at Brown in like 9 different dances, currently knowing only three-ish and feeling like I have two left feet, so this should be fun! I’d say ballroom is my “let’s try something new even if I suck because that’s part of the amazing human experience” item of the year. So far, it’s been a blast, despite tipping over several times in high heels already while dancing. Updates (most likely) coming in the future. 13.UROP To support my lack of a meal plan and therefore, constant take-out ordering, I have found a cool CSAIL lab to work in (coincidentally in the same group as Anelise N. :o). Here’s the rig I get paid to play with: The idea is to create a dataset that a machine learning model could train and test on to reconstruct the scene not in the frame, using tonality data. Applications of this include using the model to “see beyond corners” and also render items in augmented/virtual reality. It’s some really cool stuff that I don’t necessarily entirely understand yet, but I’m so happy to be at the intersection of photography and machine learning applications. 13.HireMe (pls) Wow, trying to get a job is like a full-time job. Even with job postings swimming in buzz words like “Harvard MBA looking for app coder,” “machine learning,” and “startup culture,” it’s hard to sell yourself to the recruiter, while also convincing yourself that you won’t just be another cog in the corporate machine. I shouldn’t even be complaining. I was talking to a Course 1 Environmental Science major (so rarely found in the wild, I know!), and she was explaining to me what the job search struggle really sounds like when companies are only big enough to hire one intern per summer, but there are often moral issues with working at big oil companies that can afford a herd of interns. 13.StateofWorld The past few weeks have been very heavy, weighed down by things that happened within the MIT community and the world, from losing a member of our class to natural disasters near my family. The result is that the hours I’ve laid awake in bed could easily amount to time I’ve spent in class. What a time to be alive. I’ve been writing this piecemeal as I wait for data collection in my UROP, or if I ever get tired of banging my head against a wall for a problem set, so apologies on any discontinuities or tangential trains of thought, as I am hOsEd. Post Tagged #6.006 #6.009 #7.012 Intro to Biology #Ballroom Dancing #CSAIL (Computer Science and Artificial Intelligence Lab) #CSAIL (Computer Science and Artificial Intelligence Lab)

The objectives of professional management agencies - Free Essay Example

Sample details Pages: 17 Words: 5115 Downloads: 9 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? The main objective of the professional management agency is to provide the right support to the core business operations. It is the objective of a facility management agency to provide this support in a relevant manner, having the precise excellence at a cost which is competitive in the market (Barrett and Baldry, 2003). The chapter encompasses an introduction to the facility management services, an insight into market overview and a detailed analysis of the industry with relevant management models. 2.1 Industry introduction From the late 1980s, facilities management has steadily secured its foothold as an industry and profession within the facility and construction industry. Twenty years ago, the word facility mostly would seem to mean block in the plumbing but the then pioneers had to persevere hard to gain the credibility which the industry is enjoying today (Eley, 2001). The emergence of FM as a discipline and industry during the late 1980s and early 1990s provided a link between the previously discrete industries of real estate and construction in India (Varcoe 2000). However, facilities management in India is comparatively a new industry in India (Tay and Ooi 2001, Gilleard et al. 1994). The reports of companies developing an assimilated approach of viewing the buildings as a working environment and strategic asset are on the rise (Pitt and Hinks 200). The firms facility operations cannot exist in strategic isolation if the firm has to efficiently exploit its resources to uphold the delivery of i ts core services (Amaratunga and Baldry 2002). Facility management agency in India is a professional company that offers its customers with a dedicated team to solve and maintain their day to day activities and the problems/ issues related with it. Employing a facility management company has the following advantages: Safe, healthy and secure environment to work for the employees Improved efficiency in the cost of operation of the facility Reliable and standardized systems for management of the facility Improved quality of service Improved life span of assets and its associated cost of maintenance (Varis, 2004) Don’t waste time! Our writers will create an original "The objectives of professional management agencies" essay for you Create order 2.2 Market Overview Fig 2.1: Indian facility management market division Source: International Facility Management, 2008 The facility management industry in India has an enormous capability to generate revenue. The experts have predicted the facility management industry to reach 6 Billion (USD) by the beginning of financial year of 2012 in India. This could be witnessed by the high rise in the number of international facility management agencies who have entered the Indian sub continent market. These agencies are not just confined to metropolitan cities but are also expanding their base in Tier 1 and Tier 2 cities of India. Despite the availability of enormous opportunity in the Indian market, very few agencies are professional and organised in their approach towards facility management. CB Richard has a centralised quality monitoring team which acts as an implementing and governing body for standardised processes in the facilities managed by them in India. Thus it would enable them to have super ior professionalism in their approach. The facility management industry in India has also witnessed a rise in the number of joint ventures and acquisitions in the recent past. The major players are particularly interested in such strategies to expand their business. Indian operation of CB Richard Ellis has been purely on solo basis and has not decided to merge its operations with another organisation. This has enabled them to adhere to their centralised approach towards facility management in India. 2.3 Segmentation Fig 2.2: Target audience for facility management industry in India Source: Researcher, 2010 In India, construction of office buildings with multiple facilities is a trend set up due to its sudden growth in the field of IT industry. IT sector in India has set in motion a chain reaction which enabled in the betterment of internal infrastructure. With improvement in the mall cultures, international schools, increase in the number of manufacturing firms, the growth in the real estate and banking sectors have been the by-product of IT growth in India. For major projects, the buildings are constructed with wide range of facilities like food beverage, gymnasiums, health centres and other facilities. These projects are also supported by centralized air-cons, uninterrupted power supply, water recycling plants, etc. These office blocks entail the use of high level of management and attention due to the high level of expectation from the company and its employees. An efficient manageme nt is important to maintain these buildings in order to avoid high running costs (Chan et al, 2001). A robust maintenance practice is important to compliment the companys functions. Chan et al (2001), also recognises that the facility operations are not clearly visible and generally failed to be noticed by the management. Due to such deficiencies in India much of the manpower is wasted and results in an abysmal planned preventive maintenance schedules which deviates from its actual purpose. 2.4 Industry Trend With a global economy, swift product cycles, limitation in funds and resources and improvement in the field of technology, a lone company may not have the potential to sustain and improve its stand in the Indian market (Stanek, 2004). The extremely competitive and unpredictable business atmosphere stimulates firms to collaborate with other firms to remain competitive in the market (Varis, 2004). Most of the large scale and mid scale firms are employing professional agencies in their business modules to gain their expertise to improve its competitiveness (Leino, 2004). The fast changing technology and intense competition in the global market has compelled firms to be more flexible and acclimatize faster (Hallikas et al, 2002). This has stimulated companies to form develop close relationship with professional agencies like facility management companies to maintain their day to day activities which provides an improved value for money. It has triggered the trend of shifting the intern al support functions of the firm with the service rendered from an outside professional agency. Thus it gave a shape to the facility management industry in the late 1990s in India (Bochner et al, 2002). This was witnessed by the fact wherein the increased number of builder chose to partnership with professional facility management agencies to provide services of operations and maintenance of the building and its associated systems and also to cater to the requirements of the end users. 2.5 Preisers POE model Fig 2.3: Preisers POE Model Source: Preiser, W. et al (1991) The standardisation and globalization of majority of the structures, office blocks, etc. have paved ways for consistent toolkits such as POE models to be conceptualized and implemented in practice (Preiser, 2001). The POE model considers three approaches for its execution (Preiser, 2002). Level 1, indicative phase, of the POE model provides an indication of major success and failure of the buildings overall performance. This is executed by an experienced individual who has been exposed and familiarized with the building type. The duration of data collection process is short and the findings are reported formally (Barret and Baldry, 2003). The level 2, investigative phase, follows an approach based on the findings of previous level. Contrasting to the previous level the evaluators relies on more sophisticated data collection techniques to produce results. The evaluators undertake state of art literature reviews and s tudy similar facilities. Thus analysis is made on the reason why the problem has occurred and identifies solutions (Barret and Baldry, 2003). Thus recommendations are suggested to the specific problems that were identified. Level 3, diagnostic phase, not just aims at improving the particular facility being evaluated but also influences the future design of similar facilities. This is a long term process and the results drawn are long term oriented (Turpin-Brooks Viccars, 2006). Level 2 and level 3 of POE model undertake a thorough extensive study of buildings efficiency and provides increased time commitment for data collection as well as in the data analysing stages (Turpin-Brooks Viccars, 2006). Thus this model can be used to improve the efficiency of CB Richard Ellis. This would enable them come out with innovative solutions to the clients and also can results in preventive actions in similar facilities. This may aid in fulfilling CB Richard Ellis aim of being an organisation d edicated to be a one-stop solution to real estate and its derivatives. The variance in cultures among different geographic regions is critical factor and should be dealt effectively while implementing POEs on the similar buildings in different countries which have varied cultural values (Preiser, 2001). Since India is a country with diversified cultural values it is important for CB Richard Ellis to consider this critical factor before implementing this strategic model. Client organisations with recurring building programmes evidently realise the importance of POE and are prepared to invest on a limited basis in conducting the research (Preiser, 2001). The companies have complex approach and constantly changing requirements due to which varied services may be required. For example, the occupants and governments in the Indian market have pressed on green life styles in their day to day activities and operations. They tend to impel the outsourced organisations to follow such act ivities in their premises (Eley, 2001). By employing POE, CB Richard Ellis could choose the green policies that are currently being followed by them in similar facilities in India. This would enable them in developing and implementing strategies which would aim at optimising the resources to deliver increased output in India. POE is a critical tool which could be used to evaluate a wide range of facility related problems. The productivity of the building and employee satisfaction with the workplace can be acquired using POE model (Tarricone, 1999). This could aid CB Richard Ellis in understanding its efficiency in delivering outputs that was expected from the building by the clients to meet the core business interests. POE model basically can assess the degree of efficiency of the building in delivering the needs and requirements of business (Tarricone, 1999). Thus in case if CB Richard Ellis falls short in delivering the expected outputs it can take necessary corrective measures to reach the desired level. By aiding to the business interest it can be a strategic partner in protecting the core business values of the client in India. Pultar (2000) says that the important factor for a company building is the attitude of the employees towards it. The POE model emphasizes a great deal on the reaction and experience of the inhabitants of the building and it is one of the critical factors in the process of data collection. This would throw ample light on the issues faced by the employees, thus, in evaluating the performance of the building in supporting the business objectives (Pultar, 2000). CB Richard Ellis can capture the essence of these surveys and take necessary corrective actions to deliver performance oriented results to the clients in India. This would also contribute to improving the efficiency of the employees. Thus, it can be a strategic partner to the clients core business objectives which act as an added incentive to gain competitive advantage in India. Most of the professional facility management organisations in India carry out regular technical assessments such as efficiency of mechanical instruments, testing the structure, etc at planned intervals. But performance of the building will not be solely contributed by the efficiency of these mechanical and structural elements. These elements act as catalyst in improving the experience of the employee in the building (Preiser and Vischer, 2005). A POE model differs in such aspects as it also addresses subjects such as occupant performance, employee satisfaction and productivity. It is a critical model which binds the human requirement with performance of the building (Preiser, 1995). It would deliver outputs which would guide CB Richard Ellis in orienting itself to serve the Indian market better. The Preisers POE does not have a single defined approach. The approaches that needs to be followed are selected and the decision is reached considering the distinctive requirem ents and purpose of the having the evaluation (Leaman, 2003). The Preisers POE model can be summarised as follows: The outcomes and statistics of the evaluation should be able to be matched and compared with the reviews and analysis done in prior The time factor required to conduct the analysis is minimal The results are high in quality and content The applicability to the given situation is very high The reliability is high as it would deliver similar results when by different individuals in similar situations It addresses the issues with respect to the activities, requirements and aims of the user who is using the building (Leaman, 2003) 2.6 Porters five forces From the firms point of view, the most relevant and important aspect of the competitive environment is the industry in which the firm competes (Ormanidhi Stringa 2008). The competitive forces acting on the facility management industry in the Indian market would decide the degree of profitability and sustainability of CB Richard Ellis in India. Porters model of generic competitive strategies is an important synthesis of Porters research and teaching experience within strategy and industrial economics. Since the publication of this model in 1980, Porter (1998 and 2004) has confirmed his belief that firms should pursue one of his recommended strategies in order to succeed (Ormanidhi Stringa 2008). According to Porter (1998), a firm can identify its strengths and weaknesses relative to the actual state of competition by analysing the industry in terms of the five competitive forces. The main argument to support this is that a firm can take offensive or defensive action by knowing the effects of each of the competitive forces and try to insulate itself against the pressure exerted by these forces. Although the first consideration for a firm is to place itself against the competitive forces in a defendable position, Porter thinks that firms can affect the competitive forces by their own actions (Ormanidhi Stringa 2008). 2.6.1 Threat of New Entrants The threat of new entrants could be classified as relatively high. Previous decade has witnessed many competitors entering the facility management industry in India. The threat of new entrants to an industry would cause the industry to go into a higher capacity and the aim to increase the market share exerts pressure on the firms to modify its pattern of functioning in order to compete (Porter, 2008). This is due to the high potential of the facility management industry and a relatively low initial cost involved. The requirement of high initial capital requirement can deter the new entrants (Porter, 2008). The suppliers would deliver the goods and services with a relatively comfortable credit period which works in favour of the new entrants in India. The industry is in its growth stage and with innovative approach can easily capture the market. The new entrants can use channels such as cost leadership or product differentiation to penetrate the market. The entry barrier and exit ba rrier being relatively low the industry has high threat from new entrants. 2.6.2 Threat of Substitutes Threat of substitutes is high for facility management industry in India. A substitute is the one which achieves the identical or similar objectives as the product offered by an industry by different means (Porter, 2003). The internal team of facility management executives is the threat that is largely faced by the facility management industry in India. This may act as a hindrance to the growth of CB Richard Ellis in the Indian market. A high threat of substitutes may result in bringing down the profitability of the industry (Porter, 2008). The facility management industry being new in India, the companies usually are keen on continuing their facility as a part of internal administration department. This could result in lower profitability for CB Richard Ellis in India. This could be a serious threat to the industry as many companies may not be very inclined towards having their facility managed by an outsourced company. The threat of substitutes can be reduced considerably having o ffering services which are of much higher quality and the cost incurred is competitive (Narayanan Fahey, 2005). Thus CB Richard Ellis can educate the buyers about its superior quality of service at a competitive price which can aid in reducing the threat of substitutes. 2.6.3 Threat of Buyers The facility industry in the Indian market being highly competitive, the buyers have a large degree of control with the different agencies to choose from. The consumers or buyers who are powerful would often flex their power in order to bring down the costs incurred to them. This could demand improved quality of service offered or may even increase the scope of service which would bring down the profitability of the industry (Porter, 2008). Even though India being a large market, the availability of large number of multinationals and local companies would incline the bargaining powers to the buyers. However, the suppliers may weaken the buyer power by having products and services that are distinctive and not easily available in the market (Porter, 2003). Thus, the unique process and back-up support provided by the multinationals in the Indian facility management industry would weaken the bargaining power of price sensitive customer to a considerable extent as they would have to set tle down to lesser known agencies. This may favour CB Richard Ellis from the powerful buyers bringing down their profits to a large extent in India. The difference in pricing would work in favour of the facility management industry which may further contribute to weakening the bargaining power. 2.6.4 Threat of Suppliers The bargaining power of suppliers could be considered low in the Indian market. Strong suppliers can grab high profits for their service by demanding high costs for their services which could limit profitability of the industry (Porter, 2006). The high profits are charged by the suppliers mainly when the pool of suppliers catering to an industry is low (Narayanan Fahey, 2005). The facility management companies in India have a wide base of vendors who can provide quality service at a competitive cost. The availability of large pool of vendors who can offer quality service at short notice would make the threat of suppliers low in India. In the Indian market, with most of the supplies being ingeniously produced, the companies have different modes to access the supplies which can further weaken the bargaining power of suppliers. The suppliers also offer large credit periods to the companies which tilts the balance in favour of the industry in India. 2.6.5 Competitive rivalry Even though the industry is relatively new the threat of competitors are very high. The competitive rivalry could be witnessed in many forms such as providing price discounts in the services offered, improvement in the services, offering new products and services, merging with other professional organisations (Porter, 2008). Established multi national facility management organisation like Jones Lang Lassalle, Cushman Wakefield, Johnson Controls, etc have entered the Indian market which has further intensified the competitive rivalry for CB Richard Ellis in India. These giant multi-nationals have tie-up with local Indian facility management companies in order gain competitive advantage and to gain an insight into the Indian market. CB Richard Ellis, in India, is an independent company which depends solely on its own expertise to counter these global giants. Thus, with professional multinational facility management companies making their way into Indian market along with local compe titors have made the industry highly competitive for CB Richard Ellis. Competitors resorting to techniques such as product differentiation, cost leadership, niche market, etc the companies are forced to innovate in order to remain competitive in the market (Porter, 2003). 2.7 Atkins Model for developing facility management strategy 1. Assessment objectives and expectation 2. Services review 3. Resource audit Strategic analysis Strategy implementation Developing solutions 1. Generation of option 2. Evaluation of options 3. Selection of strategy 1. Communication 2. People and systems 3. Resource planning Fig 2.4: Atkins Model for developing facility management strategy Source: Atkin, B. and Brooks, A., (2000) For efficient and effective facility management robust strategies must be implemented within the overview of strategic business plan. The materialisation of facility management strategy is a critical task that must be carried out meticulously using the apt techniques and means (Atkin and Brooks, 2000). Recognition of such strategies formed after carrying out such extensive examination is a key to the companys success (Porter, 1985). CB Richard Ellis could analyse, develop and implement strategies using this model to remain competitive in the Indian market. Also, it would aid CB Richard Ellis in understanding the feasibility of the implemented strategies and the level to which the strategies have been effective. The strategic business plan for facility management has three main stages: 2.7.1 Strategic Analysis Strategic analysis would enable a company to elevate their understanding on the core concepts which are guiding the industry and would enable the company to make better decisions in order to curtail the competitive forces acting on them (Grant, 2005). This would aid CB Richard Ellis in understanding the fundamental requirements of the Indian market. On analysing the Green revolution in the Indian facility management market CB Richard Ellis have launched CBRE Eco Green Knights to assist its clients in creating an educated and ecologically aware workforce. Assessment of objectives and expectations of the clients, reviewing the current level of service offered by the company and the audit of resource required to meet the expectation of the clients is the critical factor for success for the facility management industry (Atkin and Brooks, 2000). These factors are important in order to comprehend the diverse expectations of the clients. The service review would divulge the superiority of the service offered by CB Richard Ellis to its buyers in comparison with other competitors like JLL-M, CW, etc. The resource audit would impart the current level of expertise to meet competitive forces in the Indian market. Strategic analysis is could be regarded as the driving factor which results in a pattern of important decisions which (a) direct the company in its connection with its environment (b) influences the internal constitution and processes followed by the firm and (c) centrally influences the companys performance (Hambrick, 1980). Jones Lang LaSalle has merged with the Indian facility management group Meghraj Groups to become one of the largest in India to counter the diversified need of Indian market. For strategic analysis to be successful, the following analysis is important. Fig 2.5: Strategic analysis Source: Researcher, 2010 It is very important for strategic analysis to critically map the core requirement and capability of the company to the indus try requirements which are characterized in connection with the competitors, clients and industry suppliers (Grant, 2005). CB Richard Ellis is actively participating to certify its clients from Leader in Energy and Environmental Design or LEED certification by Green Building Council, United States (1988). Thus, strategic analysis is utilized to comprehend the dynamic state in which the key business decisions are associated with the companys current facility provision and projected requirements (Atkin and Brooks, 2009). 2.7.2 Developing Strategic Solutions While developing solution the company must consider the requirements that need to be done in order to maintain the current services which are being offered and the ways and means to improve them. Also, it should develop long term vision that considers the impending changes that influence the industry and its clients (Atkin Brooks). The current trend of energy conservation practice stimulated CB Richard Ellis in 2008 to form Engineers group where in a team of specialised engineers were brought on a common platform to draft and develop energy conservation measures. Once approved, these measures would be implemented in the clients facilities. Fig 2.6: Developing strategic solutions Source: Researcher, 2010 Generation, evaluation and selection are the key steps in the process of developing a strategic solution. The generation of a strategy begins with the objective of companys service innovation effort and a complete knowledge of the way in which these service innovation goal s would match up to the broader business goals (Cooper and Edgett, 2010). The generation of a strategy is considered in order to compliment the requirements and requisites of the industry. Innovation is an uncertain process and the success or failure of the company depends on it. Thus, it becomes important to critically evaluate the generated option (Tidd, 1997). Evaluation provides a clear picture of practical perception by the picture by the clients (Jin Na, 2008). Evaluation process would weigh the options generated in the generation process in consideration with the real time constraints to identify its feasibility, flexibility and suitability. The business environment of a company in the Indian market includes an array of external forces which influences the business decisions and outcomes (Zahay and Griffin, 2004). Selection process could be termed as a function of cost, i.e. mainly the effort needed to implement the strategy, and benefits, i.e. mainly the degree to which the strategy addresses the issues that were considered in the analysis (Payne and Bettman, 1988). CB Richard Ellis, in India, guides its clients and leads the global phenomenon of Earth Hour on March 28 where millions of individuals around the world would switch off their lights for an hour. These strategies have aided CB Richard Ellis in not just creating awareness but also being a strong competitor in the Indian facility management industry. 2.7.3 Strategy Implementation The strategies are not useful until the associated individuals employ it in their activities and adopt different and improved actions because of it (Little, 1975). Thus it becomes important for the strategies developed in the previous stages to be implemented in a manner which would result improved decision making. CB Richard Ellis, in India, undertakes training program for its employees in the regional headquarters to communicate and implement the new strategies that are being developed. Fig 2.7: Strategy implementation process Source: Researcher, 2010 The successful implementation of a strategic option would rely, to a large extent, on the attitudes and interests of the concerned individuals (Little, 1975). The key factor in the implementation process is the communication between the decisions makers and the individuals who are affected by implementing the strategy. Also, it is very important to communicate to the individuals who are expected to bring about this implemen tation process (Bodily and Allen, 1999). CB Richard Ellis also conducts online interactions with employees to create awareness of the different strategies being implemented and to generate interest among its employees to implement the new strategies. This would also act as an important platform to gain valuable feedback. The resource planning in the implementation strategy aids the company in understanding the leverage it has in implementing the strategy. It also guides the company within the limits with which it should operate while implementing the selected strategic options (Carey, 2008). CB Richard Ellis has a team of professionals who are based out of the headquarters to monitor the successful implementation of the strategy by conducting audits and interviews at the clients premises. This would also provide an increased leverage in the implementation process. This could also result in better communication to the clients and can obtain a clear understanding of the outcomes of the implemented strategy. 2.8 Growth Strategy Fig 2.8: Growth model for CB Richard Ellis Source: Derived from Ansoff growth matrix (1957) and Porter (1980) generic strategies A relevant growth strategy is an integral part for a company to compete in the market (Pleshko and Heiens, 2008). The growth strategies generally encourage innovation in the core strategy followed by the company (Baghai et al, 2009). Porter (1980) developed three generic competitive strategies which are considered as the classic of strategic thinking (Miller and Dess, 1993). The Ansoffs (1957) growth matrix and Porters (1980) have been tactfully combined to develop a growth strategy which would aid CB Richard Ellis gaining its foothold in the Indian facility management market. 2.8.1 Market Penetration By employing this approach, the firm will be looking for an increase in the percentage of share in the present market with the existing products. This could be done by converting non users in to users, by persuading current users to use more or by gaining market share from its competitors (Richardson and Evans, 2007). Since facility management is a service oriented product the concept of persuading current users to use more would be irrelevant. CB Richard Ellis can improve its business development by creating awareness among the non users to understand the benefits of having a dedicated professional agency to manage its facility in the Indian market. By having unique services the company gain the market share from its competitors. CB Richard Ellis, in India, has deployed dedicated professionals in each of its branch offices to in order to penetrate the local market better. 2.8.2 Market Development Here the firm tries to discover and create new segments in the market for the existing service that are being offered by them (Richard and Evans, 2007). CB Richard Ellis can explore opportunities in these new markets to remain competitive and improve its profitability. The government building and most hospitals in India are being managed by the internal team for facility management. This is an important area which could be explored and it has a tremendous potential to generate high profits in the Indian market. But presently, CB Richard Ellis manages only one government office which is located in Tidal Park, Chennai. The challenge in market development is in understanding how genuine and sustainable are the new markets (Peet, 2008). Since the hospitals, schools, government offices, etc expects to operate in a cost effective manner, it would be an ideal target market for CB Richard Ellis to harvest. 2.8.3 Product Development This refers to the creation of new services that could be offered to the current market which the company is being catering to (Richard and Evans, 2007). Facility management agencies in India encompass all the requirements that could be offered to the client. Hence product development would very complex for CB Richard Ellis in India. The product development process could be done by offering improvements to the current products, improving the service range and through innovation in the service offered (Peet, 2008). This could be achieved by providing value added services to the clients that offers higher value of money to the clients. The facility management can share more responsibility in the clients day to activities. CB Richard Ellis, in India, have launched Earth hour programmes, Energy star programme, LEED Certification programmes, etc. in the clients premises as an value added service. The transport department of the clients are being transitioned as the responsibility of the facility management team. These value add programs can be tactfully used as an product development process. 2.8.4 Differentiation The differentiation strategy from porters generic strategy is an important strategy to fight the competition in a industry which comprises of equally competent rivals (Murray, 1988). The differentiation strategy insists the firm to offer or design a product or service that is distinguishes itself in the industry as being unique. This would allow the company to gain an competitive advantage in the market (Dess and Davis, 1982). The green movements, energy conservation procedures, certification by LEEDs, ISO certification for the process followed are some of the differentiation strategies that could be adopted and implemented at the clients facility. This would provide industry wide recognition and the degree of uniqueness would also help the facility management agency in improving their profitability. This could aid CB Richard Ellis increasing their market share. Threat of buyers being high in the Indian facility management industry, differentiation strategy can aid in reducing the bargaining power.

To what Extent was Germany a parliamentary democracy in...

To what Extent was Germany a parliamentary democracy in the years 1900-14? In the period 1900-1914, Germany’s political landscape witnessed extraordinary changes in which typical features associated with a parliamentary democracy- such as significant and influential pressure group activity and universal suffrage- were present. It can however be argued that this period also represented a time in which the German Reichstag did not truly represent the population due to old and corrupt voting system for Prussia which saw votes unfairly given and the role of all the chancellors- in particular Von Bulow- during this time, which saw unelected officials yielding greater influence than that of the Reichstag. Germany was a parliamentary†¦show more content†¦There is however an argument for the fact that universal suffrage was not as dramatic as it first appeared. It can be argued that this significant development, which seemed to mark a new step towards liberalism was actually inadequate. Bismarck is known to have wanted the cooperation of the Reichst ag in matters relating to passing legislation, yet denied the Reichstag the status and importance of its counterparts in order to restrict their influence. Bismarck knew that introducing the idea of universal suffrage would project the idea of parliamentary democracy and preserve stability within the newly unified Germany, yet was also aware that the Reichstag was an assembly, which lacked any real power. It can therefore be said that this â€Å"universal suffrage† was in fact a decoy created by Bismarck in order to hide the true, doctoral nature of the German political system. If the purpose of introducing universal suffrage is to act as an mask for the elitist, un representative political system, then it cannot be said that this represents Germany as a parliamentary democracy, when the aim of it is in fact the complete opposite. Germany’s corrupt political system is able emphasis the idea that it was not a parliamentary democracy. This is seen in regards to the Prussian three classShow MoreRelatedTo What Extent Was Germany a Parliamentary Democracy? Essay1163 Words   |  5 PagesTo what extent was Germany a parliamentary democracy in the years 1900-1914? A parliamentary democracy is the power in Germany being shared amongst everybody. The positions are democratically elected by the population of the country. The way Germany was run is based upon the Constitution the power lies between the Reichstag, the chancellor and the Kaiser. Germany was a parliamentary democracy based on the constitution that Germany was run by. 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Project On Bajaj Auto Limited Free Essays

November 14, 2009 Project On Bajaj Auto Limited Submitted by Team TiTanS -Amit Sheth -Anand Dube -Darshna Chande – Mrinal Kaul -Subrato Das -Vinay Chaudhary Page 1 of 23 1 BAJAJ AUTO LTD November 14, 2009 Index 1. 0 Introduction 2. 0 PRODUCT PORTFOLIO. We will write a custom essay sample on Project On Bajaj Auto Limited or any similar topic only for you Order Now 2. 1 Product life cycle of the various products. 2. 2 A BCG Matrix of Various products. 3. 0 Key Brands – Top Three in terms of volume and revenue 3. 1 Bajaj Pulsar. 3. 2 RE (3 Wheeler). 3. 3 Discover. 4. 0 Positioning of the top three brands of the company. 4. 1 Pulsar. 4. 2 Discover. 4. Bajaj Auto (Commercial Vehicle). 5. 0 Competitors and the differentiation of each based on positioning. 5. 1 Pulsar key Competitors. 5. 2 Bajaj Auto Commercial Vehicles. 5. 3 Discover key Competitors. 6. 0 Key marketing communications and the evolution of the same since 1995 7. 0 The Future. 7. 1 Recommendations. 8. 0 Graphs. 8. 1 Sales data of BAL and Industry Comparison. 8. 2 BAL in International Market. 8. 3 3 Year Projection for Commercial unit of BAL 8. 4 BAL projection for Domestic Sales 9. 0 References. Page 2 of 23 2 BAJAJ AUTO LTD November 14, 2009 BAJAJ AUTO LTD 1. Introduction Bajaj Auto is India’s largest and the world’s 4th largest two and three-wheeler manufacturer. It is based in Pune, Maharashtra, with plants in Akurdi and Chakan (near Pune) and Waluj and Patnagar in Uttaranchal. Bajaj Auto produces and exports scooters, motorcycles and auto rickshaws. Over the last decade, the company has successfully changed its image from a scooter manufacturer to all round two wheeler manufacturer. Its product range encompasses scooters and motorcycles. Founded in 1926, at the height of India’s movement for independence from the British, the group has an il lustrious history. The integrity, dedication, resourcefulness and determination to succeed are characteristics of the group even today and can be traced back to its birth during those days of relentless devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as his son. This close relationship and his deep involvement in the independence movement did not leave Jamnalal Bajaj with much time to spend on his newly launched business venture. His son, Kamalnayan Bajaj, then 27, took over the reins of business in 1942. He too was close to Gandhiji and it was only after Independence in 1947, that he was able to give his full attention to the business. Its’ real growth in numbers has come in the last four years after successful 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. Bajaj Auto came into existence on November 29, 1945 as M/s Bachraj Trading 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 in 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 vehicles and produced and sold 1 million vehicles in a year. Kamalnayan Bajaj not only consolidated the group, but also diversified into various manufacturing activities. The present Chairman of the group, Rahul Bajaj, took charge of the business in 1965. Under his leadership, the turnover of the Bajaj Auto the flagship company has gone up from Rs. 72 million to Rs. 46. 16 billion (USD 936 million), its product portfolio expanded and the brand has found a global market. He is one of India’s most distinguished business leaders and internationally respected for his business acumen and entrepreneurial spirit. Page 3 of 23 3 BAJAJ AUTO LTD November 14, 2009 2. 0 PRODUCT PORTFOLIO Product Portfolio Two Wheelers Three Wheelers Entry Level Mid Level Peformance Passenger Carrier Goods Carrier Platina 100cc 125 cc DTSi Kristal DTSi XCD 135 cc DTSi Discover 100cc 135 cc DTSi Pulsar 150, 180, 200 220 cc DTSi Avenger 200 DTSi RE-2 Stroke 2 Diesel CNG RE – 4 Stroke Diesek CNG GC MAx Diesel CNG In 1972, it introduced Ba Bajaj Chetek. The company formed a joint venture with . Maharashtra Scooters in 1975. Bajaj Auto established Waluj production plant in Aurangabad, in 1985. In the following year, the company entered into the technical tie-up with Kawasaki Heavy Industries, Japan to produce a range of two up Japan two-wheelers in India. The company signed agreements with Kubota, Japan for the development of diesel engines for three-wheelers, and with Tokyo research and development for un wheelers, ungeared Scooter and moped development, in 1995. In 1999, Bajaj Auto commenced the production at Chakan plant. The company introduced Bajaj Saffire in 2000. In the following year, Bajaj Auto launched Eliminator and Pulsar bikes. Bajaj Auto launched Bajaj Wind 125, Pulsar 150cc and 180cc sports styled bikes, in 2 180cc 2001. In the next year, Bajaj Auto launched Bajaj CT100 and Bajaj Discover DTS The company DTS-i. aunched Bajaj Discover, Bajaj Avenger DTS i, and Bajaj Wave DTS in 2005. In DTS-i, DTS-i, the following year, it launched Bajaj Platina. Bajaj Auto launched 200 cc Pulsar DT DTSi, and Bajaj Kristal DTS-i in February 2007. Bajaj Auto started a new plant at i Pantnagar, Uttarakhand in April 2007. In the following month, the company demerged to form three separate entities: Bajaj Auto (automobiles); Bajaj Holdings a nd Investment Limited (an investment company); and Bajaj Finserv Limited (wind ited power and financial services company). Bajaj Auto launched its ‘XCD 125 DTS DTS-Si’, a 125cc motor bike in September 2007. In May 2008, Bajaj Auto, Renault and Nissan Corporation formed a joint-venture company to develop, produce and market the car ure code-named ULC with wholesale price range starting from $2500. The joint named joint-venture company would be 50% owned by Bajaj Auto, 25% by Renault and 25% by Nissan, and to construct the plant in Chakan (Maharashtra state) in India with an initial (Maharashtra planned capacity of 400,000 units per year. In February 2009, Bajaj launched XCD Page 4 of 23 4 BAJAJ AUTO LTD November 14, 2009 135 cc DTSi. Bajaj Auto has a distribution network in 50 countries and presence in India, Sri Lanka, Colombia, Bangladesh, Mexico, Central America, Peru and Egypt. The company has global partnerships with the shipping lines of Maersk Sealand, PO Nedloyd and APL. The company’s subsidiaries include: Bajaj Auto International Holdings, a 100% Netherlands based subsidiary; and PT Bajaj Indonesia which assembles and markets Pulsars in Indonesia. 2. 1 Product life cycle of the various products is shown below. INTRODUCTION STAGE: Products like Discover 100 DTSi and Pulsar 220cc. GROWTH STAGE: Products like Discover 135 cc have a great potential to grow and become market leaders in their segment. MATURITY STAGE: Products like Bajaj Pulsar 150 ; 180cc are at their maturity stage. DECLINE STAGE: Bikes like Avenger, Platina, Pulsar 200 cc market have ready substitutes available resulting in lower demand and lower market share. 2. 2 A BCG MATRIX OF VARIOUS PRODUCTS ARE SHOWN BELOW STARS BAJAJ PULSAR SERIES DISCOVER 100cc COWS DISCOVER 125CC DISCOVER 135CC Page 5 of 23 5 QUESTION MARK XCD 125CC PLATINA 100cc DOGS AVENGER KRYSTAL BAJAJ AUTO LTD November 14, 2009 3. 0 Key Brands – Top Three in terms of volume and revenue 1. Bajaj Pulsar 2. RE (3 wheeler) 3. Bajaj Discover 3. 1 Bajaj Pulsar It is a motorcycle brand owned by Bajaj Auto in India. It was developed by the product engineering division of Bajaj Auto in association with motorcycle designer Glynn Kerr, Tokyo R;D. Currently there are four variants available with engine capacities of 150cc, 180cc and two variants with capacities of 220cc. More than a million units of Pulsar were sold by November 2005. Pulsar 200 variant was discontinued in July 2009. With monthly sales of more than 48,000 units in June 2009, Pulsar is the leader in the 150 cc + segment in India with a market share of 43%. The following is the sales data of Pulsar Brand for the last five months. Month Sales (Units) June 48062 July 49621 August September October 65000 55413 56000 3. 2 RE (3 Wheeler) The leading three wheeler manufacturers in India are Bajaj Auto, Mahindra ; Mahindra and the Italy-based Piaggio. In the three wheeler segment, the classification is broadly in terms of carriage and passenger vehicles. Since the former does have a very limited capacity to carry goods and is not preferred by many, the three wheeler manufacturers are more into the passenger three wheelers. Bajaj Auto has a range of models for passenger three wheelers namely RE 2S,RE 4S,RE 4S CNG,RE 4S LPG,RE Diesel and RE Diesel mega . Page 6 of 23 6 BAJAJ AUTO LTD November 14, 2009 TVS Motor has recently entered the fray with its own model of a three wheeler and with the market recording an impressive 18% CAGR rate over the last fiscal, the three wheeler manufacturers still have plenty to laugh about. 3. . Discover The Bajaj Discover a motorcycle made by Bajaj Auto in Chakan, India, debuted in 2004. This is the second indigenous bike from Bajaj. During mid 2005, the Discover was made a single variant model. It was revamped with new graphics, and other features like sns(spring in spring) suspension, self-start, etc. The Bajaj Discover has been the highest selling 125 cc bike in India since the day of its inception an d has proven to be a very popular executive commuter. 135cc model has recently released which features a front disk brake, auto-start and black alloy wheels. The following are the sales figure for the last two months for Bajaj Discover. Month Sales (Units) September 94000 October 95139 4. 0 Positioning of the top three brands of the company 4. 1 Pulsar Pulsar was launched in direct competition to the Hero Honda’s ‘CBZ’ model in 150 cc plus segment. The campaign bore innovative punch line of â€Å"Definitely Male† positioning Pulsar to be a masculine-looking model with an appeal to the performance sensitive customers. The Pulsar went one step ahead of Hero Honda’s ‘CBZ’ and launched a twin variant of Pulsar with the 180 cc model. The model was a great success and has already crossed 1 million mark in sales. The Big Idea was to position the bike as World’s first bike endowed with a gender. Page 7 of 23 7 BAJAJ AUTO LTD November 14, 2009 Pulsar changed its tagline to â€Å"The Fastest Indian† for its 220cc bike. After dumping the â€Å"Definitely Male† tagline, Pulsar advertisements never were a thriller. The product qualities made the brand a huge success. The new ad and new tagline gives a remarkable boost to this brand. It is very wise for the brand to own the highest superlative. Pulsar has owned the â€Å"Fastest† superlative, which means another brand cannot be faster than the fastest. This is a powerful positioning strategy adopted by the brand. Pulsar has become synonymous with Bajaj. It single handedly brought Bajaj from a state where it was thought that it would be sold or it was running for family prestige. Pulsar Mania was supposed to be the answer to MTV hero Honda roadies which had become synonymous plus a huge success between the youth. Target Audience Bajaj targeted the 18-24 with Pulsar but later found that the brand appealed to a much older audience. This helped Bajaj to change its target audience to 21-35 years 4. 2 Discover Pulsar helped Bajaj to establish itself as a serious player in the Indian motorcycle market. Bajaj had failures in establishing its presence in the executive segment where Hero Honda’s Splendour rules. Hence Bajaj launched Discover DTSI with Page 8 of 23 8 BAJAJ AUTO LTD November 14, 2009 much fanfare. The brand ambassador was none less than the legendary Jackie Chan. Things were perfect for a bestseller. But had Discover delivered? Still, No. This was partly because Bajaj was still struggling with the positioning of its brand. The same mistake was done with Calibre. Bajaj was trying to sell Discover by its looks. But then the new commercial suggested something else. The new commercial with a Harry Potter look alike was well executed but had no marketing significance. What was being communicated to the customer? Just like the Hoodibaba campaign involving cartoon characters which actually killed the product, Discover campaigns was based on fantasy. Positioning has to be realistic and hould differentiate the product from its competitors. That is the theory and it works also. So, Bajaj decided that the platform at which Discover is going to be placed is going to be sold as both stylish and performance bike. This bike is the perfect choice for the people with average height as people with more six feet of height may face some difficulty in adjusting their knee position on the tank. Otherwise, this bike offers the great comfort and handling due to its well placed seat and handles. It offers a good mileage of 70-80 kmpl. Therefore it is positioned as a fuel efficient bike. Also, Bajaj wanted to make this bike for masses, so it launched Discover in different variants of 100cc, 125cc, and 135cc. Next year Bajaj is also planning to launch the Page 9 of 23 9 BAJAJ AUTO LTD November 14, 2009 bike in 150 cc to cater the needs of the power hungry people who can’t afford Pulsar. So overall Bajaj is trying to position Discover as a bike for each segment of people. 4. 3 Bajaj Auto (3-Wheeler) Talk of passenger vehicle, and first thing that comes to mind is Bajaj Auto. It is very popular throughout India, and people use them in quite frequently as daily means of transport. Bajaj in auto rickshaws, is already the global market leader. In the domestic market of approximately 6 million motorcycles annually. Bajaj Auto launches eco-friendly auto rickshaw the vehicle incorporates the latest Gasoline Technology – the Gasoline Direct Injection (GDI) engine, to achieve substantially lower emissions than even alternative clean fuels like Liquefied Petroleum Gas (LPG) and Combusted Natural Gas (CNG) vehicles 5. 0 Competitors and the differentiation of each based on positioning 5. 1 Pulsar Key Competitors: †¢ †¢ †¢ †¢ Apache CBZ Hunk Karizma Pulsar is the Flagship brand of Bajaj. It has been the great success story of modern Bajaj from â€Å"Hamara Bajaj â€Å" to â€Å" Distinctly Ahead â€Å" . The basic differentiation strategy, loaded with the first movers’ advantage, was the technological edge it had over others (Using a patented technology). It mixed performance with killer looks, unlike any of its predecessors was targeted to capture the minds of youth which it did with great success. It was the first bike which took India towards full auto-ignition and power bikes. Every now and then it comes with something new and innovative and no doubt Bajaj bikes have mass appeal as well. TVS: With its presence in 160 cc and 180 cc market it is the most potent threat to Pulsar, but erratic nature of TVS motors may pull it down in the longer run. Honda / Hero Honda: The real first mover in 150 cc segment, with CBZ has been the traditional rival, has always been there but has never been really able to really challenge pulsars supremacy. It has launched Hunk and Karizma but never lived up Page 10 of 23 10 BAJAJ AUTO LTD November 14, 2009 to the expectations because of its steep price as against the brand of Pulsar that has a presence across all the segments (150, 180, 200, 220) ranging from Rs. 5,000 to Rs. 80,000. 5. 2 Bajaj Auto Commercial Vehicles: Key Competitors: †¢ Mahindra and Mahindra †¢ Piaggio In the three wheeler segment, the classification is broadly in terms of carriage and passenger vehicles. Since the former does have a very limited capacity to carry goods and is not preferred by many, the three wheeler manufacturers are more into the passenger t hree wheelers. Bajaj Auto has a range of models for passenger three wheelers namely RE 2S, RE 4S, RE 4S CNG, RE 4S LPG, RE Diesel and RE Diesel Mega while its existing carriage three wheeler is called GC 1000. It has enjoyed monopoly in this market. In this segment it achieved differentiation on basis of trust and reliability from its competitors; moreover it had a huge first movers’ advantage. The basic customers for this product are low end business men. Mahindra ; Mahindra has got the Champion range of three wheelers. There are Champion pick up and Champion delivery vans while the Champion Passenger carrier is mostly seen in the western parts of the country. The Alfa three wheeler carriages of the M;M has a wide and tall cabin, heavy duty gear box, unique designed chassis and hydraulic shock absorbers. The Italian auto major Piaggio manufactures Ape 50 in association with Bajaj Auto at Pune with a 150cc engine. This three-wheeler has different body forms and matches the specifications of various countries wherever it is produced. TVS Motor has recently entered the fray with its own model of a three wheeler and with the market recording an impressive 18% CAGR rate over the last fiscal. 5. 3 Discover Key Competitors: †¢ †¢ †¢ †¢ Ambition ( Hero Honda ) Splendor CD Dawn Star City Page 11 of 23 11 BAJAJ AUTO LTD November 14, 2009 The Discovers as of now seems to enjoy a bull run in the market as there is no visible completion from anyone. It beats its competition on both looks as well as power; in fact it doesn’t have any direct completion in 135 cc segment. The target customer for this bike is the middle aged middle class who are looking for a bike with a bit of looks a bit of power, a bit of economy as well as an affordable price. 6. 0 Key marketing communications and the evolution of the same since 1995. Bajaj was the undisputed ruler of the Indian 2-wheeler market . It continued its domination in through the 1980 into mid 1990’s. Then the tagline used to be â€Å"HAMARA BAJAJ â€Å". This brand image was employed to instil a patriotic fervour in the minds of the middle classed dominated Indian society. With this campaign they tried to reach the masses, which had dreams and aspirations to become big. â€Å"Hamara Bajaj† †¦. Became a household jingle and Bajaj marched to become the leading two wheeler manufacturer in the absence of any significant completion. During this phase Bajaj had a monopoly over the scooter market with its flagship brand Chetak. But by the beginning of 1990 things started to change; new players were entering the market in JV with the local entities. New and advanced technology was now available. Honda aligned with Kinetic and Hero group of Munjals while Suzuki partnered with TVS. Hamara Bajaj was facing the brunt without any partners and new technology to harbour them. They were continuously focusing on continuous reduction of production cost, thus overlooking the threat of new entrants consequently their market share kept on declining. Page 12 of 23 12 BAJAJ AUTO LTD November 14, 2009 Declining market Share of Bajaj The biggest problem faced by the Bajaj was that it was losing the scooter market. People were no longer interested in scooters as the market was looded with many new models and variants. Honda was gaining momentum in the Indian market. By 1998 Bajaj was looking right down the barrel. They were facing a tough choice â€Å"To replace a legend is never easy. To replace a legend when the legacy needs a major overhaul is even more difficultâ€Å", but desperate situations call for desperate measures, Bajaj auto decided to go big time into motorcycles and do away with its flagship brand of Chetak. During this passage they launched several products †¢ †¢ †¢ †¢ †¢ Boxer Caliber Wind 115 Saffair Legend Page 13 of 23 13 BAJAJ AUTO LTD November 14, 2009 But somehow they all failed to capture the target market. Ever since losing its leadership position, Bajaj Auto Limited (BAL) was trying out new strategies including use of new technology and new marketing communication campaigns. For instance, in the early 2000s it started focusing more on the motorcycle market with new product launches, complemented by new communication campaigns to inject vibrancy into the Bajaj brand. The ad spots launched in late 2001 showed ‘slice of life’ situations of â€Å"new age â€Å"India. . Porter’s 5 Forces for Bajaj during 1990’s By now Bajaj had come a long way from Hamara Baja to its latest message, trying to capture the new India, the young India, the fast paced India, and The ever changing India. With this intention Bajaj made a last effort re-launch itself, repositioning the Hamara Bajaj in the minds of the young vibrant India. Page 14 of 23 14 BAJAJ AUTO LTD November 14, 2009 But it failed to gel in the market. The Bajaj was dying. Its JV with Kawasaki was falling apart and the killer blow came from Hero Honda CBZ in 1999. First time in its lifetime the market share of Bajaj went below 40%. The Change in the Brand message of Bajaj From Hamara Bajaj they transformed to Inspiring Confidence, thus trying to emphasize on the fact they are such an old name in the market and their name inspires confidence. But unfortunately this did not work for them and within two years they again changed their tagline to Distinctly Ahead. This time around they emphasized on the fact that they had better technology than anybody else in the market. And it worked. For that they went for a complete overhaul. Page 15 of 23 15 BAJAJ AUTO LTD November 14, 2009 Bajaj logo : Brand transformation They underwent a complete change in the brand image; they changed their logo, which was done in 2004. The reason behind Bajaj changing its logo was that people used to associate Bajaj with its old image of â€Å"Hamara Bajaj† and carrying that image Bajaj was not able to communicate its message that effectively to the youth who is its major target customer now as the market for the scooters is almost over and 80% of the 2-wheeler market is covered by bikes. The new logo flying B as it has been named represents style and technology. It connotes speed and open for denotes transparency. Today Bajaj is known with â€Å"Distinctively Ahead â€Å". The recent ad campaigns for Bajaj are associated with stunts and modern gizmos. The concept of Definitely Male was well accepted by the people and Bajaj came out with some astonishing ads. Though the DTSi technology was new, people accepted it very well. It easily conveyed the message it wanted to. The following picture strips conveys the advertisement: Getting on to his bike, a man gets all set to make a move. As he puts his helmet on, a message appears on the windshield, While the biker cruises through the city, some army men are out for their jog. Just before they cross a road, a zebra crossing forms ahead them and disappears after them, while the biker waits patiently. Page 16 of 23 16 BAJAJ AUTO LTD November 14, 2009 A young lady talks to her beau on the phone, while an image of his forms before her. She switches the phone off and the image disappears, in time for her to catch a glimpse of the bike. Riding on, he spots a child playing with a remote controlled toy. In the next shot the toy turns out to be a roller coaster, with children inside enjoying the ride. On arriving home, the biker is greeted by a As he takes off his helmet everything turns robotic dog. back to it’s usual self. MVO: â€Å"Imagine a world as advanced as the new Pulsar DTSi†¦ After these ads were successful, Bajaj came out with a second ad wherein a man is shown performing various stunts on his DTSi Pulsar. Even this one was an outstanding one. . The Latest Pulsar Campaign Page 17 of 23 17 BAJAJ AUTO LTD November 14, 2009 DTSi came out to be a good one with proper publicity advertisements and that too without any highly paid brand ambassadors. Unlike its rivals who have highly paid actors or cricket stars as their brand ambassador. 7. 0 The Future Although the avalanche of motorcycles offered Indian consumers a wide variety of models to choose from, it also resulted in increased pressure on the companies to concentrate on cost-cuts, technology enhancements, upgrades and styling. Their margins came under pressure as marketing costs escalated. The companies were forced to reduce prices and offer discounts to survive the competition. Moreover, analysts were skeptical about the segment’s ability to maintain the growth rate in the years to come. One of the major assumptions underlying the motorcycles rush was that if the market was considerably large and was growing at a constant pace, there was room for a profitable existence for all brands. In 2001, there were over 30 motorcycle brands in the market. However, with the top five brands accounting for more than 60% of the market, only 40% of the market was available for all other new brands put together. Despite the launch of more vehicles, the survival prospects of many of the individual brands were deemed to be rather bleak. Page 18 of 23 18 BAJAJ AUTO LTD November 14, 2009 SWOT Analysis for Bajaj Auto Further, the growth in the motorcycle segment was dependant on continuing favorable market conditions. Analysts claimed that to sustain this growth rate, the segment would have to completely cannibalize the market for scooters and a considerable part of the market for scooterettes and mopeds. Considering the fast growing scooters segment, with high demand from female customers, followed by the moderately growing moped segment and the restructuring in the scooter segment with major national and foreign players reinforcing their presence, it was unlikely that the entire growth in the two-wheeler sector would be due to motorcycles. Analysts also commented that as the two-wheeler industry had grown steadily for eight years, stages in the product life cycle would apply to the field sooner, rather than later and the decline stage would invariably come some day. There was little differentiation between the brands being launched apart from styling as most companies had introduced their four-stroke vehicles. Focus on High Margin Products: Around 50% of the two-wheeler consumers buy high quality products (products of executive and premium segment motorcycles). Margins on these products are higher. Page 19 of 23 19 BAJAJ AUTO LTD November 14, 2009 BAL should adopt a deliberate strategy of focusing on executive and premium segment motorcycles and three-wheelers, and a couple of brands on lower-end of motorcycles (to grab the market share) and scooters segment. High margin products – Pulsar, Discover, Three-wheelers, Avenger. Low margin products – Platina, Scooters, Mopeds. Second Hand Market: Second hand market in 2-wheeler is one of the most un-tapped market without any competitor. BAL must try and establish a unit dealing with the sales of Second Hand Vehicle something on the lines of Maruti True value and Mahindra First. Car Market: With the launch of the low budget car it can capitalize this market as there are not many players in this market and they already have the network and the knowhow of the elements of the local market as well as the technology (from its foreign partners). 7. 1 Recommendations: Below are the recommendations: †¢ Company should keep focusing on the fast growing motorcycle segment. †¢ In view of the new threat posed by Honda Motors in the scooter segment, the company needs to review its products line-up and launch new products to cater the changed demand. The company needs to take a look at its ungeared scooter offerings and need to adapt to the latest trends(compete with models like Honda Activa) †¢ The company needs to tap the export market more efficiently as there is a huge potential to make India as the world’s two-wheelers production base. For this, it needs to look for joint ventures abroad. †¢ Look to expand their base outside further. It alre ady has a strong presence in Africa and other South Asian Countries. †¢ It needs to target the young age group more effectively as this group is extremely trend savvy. The advertising should have a fresh look and the product should live up to the Gen-X’s expectations †¢ Focus on Easy Credit Lending – In the present economical crisis, Bajaj can utilize its subsidiary, Bajaj insurance in coming up with schemes that will help consumers buy two wheelers on friendly terms. †¢ BAL needs to scale up its service centers both in numbers and in capacity. Keeping in line with its growth target for the next 5 years, its service centers should not only cater to two wheelers but should also be upgraded to cater to the needs of four wheelers that Bajaj plans to launch. Page 20 of 23 20 BAJAJ AUTO LTD November 14, 2009 8. 0 Graphs 8. 1 Sales data of BAL and Industry Comparison. 8. 2 BAL in International Market Page 21 of 23 21 BAJAJ AUTO LTD November 14, 2009 8. 3 : 3 Year Projection for Commercial unit of BAL 9. 1 BAL projection for Domestic Sales Page 22 of 23 22 BAJAJ AUTO LTD November 14, 2009 9. 0 References. Marketing Management by Philip Kotler Kevin L Keller www. wikipedia. com www. Bajajauto. com www. howstuffworks. com www. bikeadvice. in BAL Annual Report www. youtube. com Page 23 of 23 23 How to cite Project On Bajaj Auto Limited, Papers

Steinbecks of Mice and Men and the Pearl free essay sample

Although John Steinbeck is recognized for the themes of his novels, including the struggles of the working class and social injustice, he is also known for his excellent use of the literary elements. In two of his novels, Of Mice and Men and The Pearl, Steinbeck uses different types of tone, diction, and syntax to enhance meaning and strengthen the impact of his message. In Of Mice and Men Steinbeck presents an innocent tone through his character, Lennie, to create meaning in the piece.The tone is brought out through Lennie’s close following of George, which the reader sees when, â€Å"he pulled his hat down a little more over his eyes the way George’s hat was,† (page 4 OMM). This gives the reader the idea the Lennie looks up to George as a role model, as a son would to his father. This child-like perception of Lennie is present throughout the whole of the story and pulls out a strong emotional factor that gives the piece meaning at the close. We will write a custom essay sample on Steinbecks of Mice and Men and the Pearl or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Steinbeck uses a different tone, one of realization, to enforce meaning in The Pearl.When Kino’s, â€Å"brain cleared from its red concentration and he knew the sound the keening, moaning, rising hysterical cry from the little cave in the side of the stone mountain, the cry of death,† (page 114 TP). The shift in his thought process shows the reader that Kino’s actions were in protection of the pearl, and not his family. This is one of many scenes in the book that signify the engulfing of Kino’s mind in greed. The neglecting of his family gives the reader a sense of disapproval toward Kino and deepens the meaning in the value of the moral that greed is evil.Steinbeck uses different diction in each of these stories, but it serves a common purpose of helping the reader understand the different characters’ backgrounds and experiences, which increases the meaning of each story. The characters in Of Mice and Men use the unique vernacular of American migrant workers in the 1930s. George uses words like â€Å"ain’t† and â€Å"y’all† and Lennie speaks often about living, â€Å"offa the fatta the lan’,† (page 57 OMM). These examples of informal diction give the reader the idea that Lennie and George are uneducated and poor. This colloquial diction not only enriches the meaning of the story, but also brings the characters to life. In The Pearl, Steinbeck uses calm and simple diction to better portray the depth of the characters’ feelings and moods. For example, through his words, Kino shows that the pearl has become more than just a solution to his problems; it â€Å"has become [his] soul . . . If [he] give[s] it up, [he] shall lose [his] soul, (page 87 TP) John Steinbeck uses syntax to engage the reader and set the mood of each scene in both books. By doing this, the meaning in each scene is deepened. However, the syntax used in The Pearl is different from that used in Of Mice and Men. In The Pearl, Steinbeck uses listings to portray each scene thoroughly. At one point, he describes the evils of one night, when â€Å"the coyotes cried and laughed in the brush, and the owls screeched and hissed over their heads. And once some large animal lumbered away, crackling the undergrowth as it went,† (page 91 TP). This gives the rest of the scene a sense of depth in its meaning due to the fact that the reader knows all that is happening and feels the tension in the atmosphere.Steinbeck’s description of the Salinas River at the beginning of Of Mice and Men consists of one long sentence that picks up on all aspects of the scene. â€Å"On one side of the river the golden foothill slopes curve up to the strong and rocky Gabilan mountains, but on the valley side the water is lined with trees—willows fresh and green with every spring, carrying in their lower leaf junctures t he debris of the winter’s flooding; and sycamores with mottled, white, recumbent limbs and branches that arch over the pool,† (page 1 OMM). Through this elongated sentence structure, Steinbeck better portrays the joyfulness and tranquility of the river, which pulls the reader into the scene and creates more meaning in the actions that take place. In both Of Mice and Men and The Pearl, John Steinbeck puts his own twist on tone, diction, and syntax, which gives each novel’s message more importance and meaning. But the meaning itself is always up to the reader to â€Å"take [†¦] from [the novel], and read his own life into it,† (Prologue TP).