Hero

CARDIFF METROPOLITAN
UNIVERSITY
UNIVERSAL BUSINESS
SCHOOL
Name: Priyakshi Nandrajog
Topic: Hero

Contents
 Executive Summary
 About the company
 How it all began
 Leadership at Hero
 CSR Initiatives
 Change Management at Hero
 Conclusion
 Bibliography

Executive Summary
The automobile industry of India is the fastest growing industry worldwide. The two-wheeler
segment is dominated by a brand which has been growing with leaps and bounds in the recent
years. The company has been able to create a sense of brand loyalty among its customers. The
company’s aim was to revolutionize the industry as a whole.
The company formerly known as Hero Honda is one of the top selling Indian two-wheeler
manufacturers based in New Delhi, India. It was ranked as the number 1 worldwide in terms
of unit sales in 2001 and it continues to maintain the position till date.
Hero, had a simple yet strong vision of having a mobile and empowered India, by its two-
wheelers. They aim at becoming a global enterprise by fulfilling its customers’ needs and
aspirations for mobility, setting benchmarks in technology, styling and quality so that it
converts its customers into brand advocates. The hero group has delivered excellent
engineering products and services at reasonable prices to millions of customers in India. The
company has spread its operations in 6 different platforms encompassing Auto components,
Renewable energy, Financial services, Real estate, Electronics and IT services and Higher
education.

About the Company
Hero MotoCorp was founded in 1984 as Hero Honda Ltd. It was established as a joint venture
between the Hero group and company from Japan named Honda. In India, hero today is used
as a household name among the population. It was founded by Late. Mr. Brijmohan Lal Munjal
as he began with manufacturing bicycle components in Ludhiana, Punjab (Heromotocorp.com.
2018)
Hero MotoCorp is a flagship company of the Hero group and is leading the motorcycle segment
for more than a decade. Its spread is in more than 20 countries which reflects its vision of
empowering people by focusing on mobility and advancement in technology. The company is
one of the most respected businesses in India, as it delivers good quality products and services
and a commitment to serve the nation with mobility and advanced technology and gains high
level of customer satisfaction from its after sales service.
The hero group has delivered excellent engineering products and services at reasonable prices
to millions of customers in India. The company has spread its operations in 6 different
platforms encompassing Auto components, Renewable energy, Financial services, Real estate,
Electronics and IT services and Higher education (Heromotocorp.com. 2018).

How it all began…
“Perseverance is not a long race; it is manyshort races one after the other”
Walter Elliot.
India was sailing amidst storm in 1940s. The country was amidst chaos and, the period was
regarded as one of the most turbulent times in the History of
Indian Subcontinent. Amidst this chaos, were four brothers also
known as the Munjal Brothers. These brothers proved that
persistence and a positive attitude can help anyone fulfil their
dreams. The brothers had their first stint of entrepreneurship
while trading vegetables and moved to Amritsar from Lahore
post the anticipation of Partition to start their own bicycle repair
shop (Heromotocorp.com. 2018).

Mr. Brijmohan Lal Munjal settled in Amritsar and observed the gap between bicycles and
repair shops, people in Amritsar were readily using bicycles for their daily mode of transport.
Mr. Munjal capitalised upon this opportunity
and opened a bicycle repair shop.
Due to high level of political turbulence, Mr.
Munjal had to shift his business to Ludhiana
and tied up with the Local Ramgharias
community and began manufacturing bicycle
parts (Rockman.in, 2018).
Ludhiana was a little town with emerging business ideas in the early 1950’s, this is when Mr.
Munjal started traveling all around the country to look for new business opportunities and
cashed the idea of manufacturing bicycles. After the hero cycles were launched, one of the four
brothers named Omprakash Munjal was assigned the task of building a dealer network, which
was the strongest point to give an edge over its competitors such as Atlas Cycles and Raleigh.
The post independent era was marked by huge demand in bicycles and companies like Birlas
entered the market with Hind cycles. Their experience in manufacturing provided the brothers
an edge over the competitors.
The market was scaling up at skyrocketing rates. While Munjal Brothers tried hard to establish
their niche, there as a fierce competition in the market. It was then in the year 1959, Brijmohan
Lal made a trip to Germany to procure high tech chain making plant for INR 3 lakh.
The sudden demise of oldest of Munjal brothers left a vacuum in the lives of Munjal brothers.
The brothers bounced back from the tragedy with the launch of long-term expansion plans.
Business was restructured and streamlined with a rapid expansion plan. The company received
accolades for being the largest bicycle manufacturer in India in the year 1979 (Rockman.in,
2018).

The early 80s were marked by emerging two-wheeler trends in India. The company joined
hands with a Japanese company named Honda to give birth to Hero Honda.
The two-wheeler segment of India, which included scooters had a monopoly of Bajaj in the
market with a waiting period of more than 12 years. The joint venture between the two
companies changed the entire scenario. Two-wheelers were often preferred by the Indian
market segment, the gap in the market was filled by Hero Honda as it manufactured sleek
motorcycles (Rockman.in, 2018).
The company’s first manufacturing unit was set up in Haryana where they came up with the
new 100cc motorcycle in 1985 which marked the success of Hero Honda. The year was marked
by the company achieving the title of the largest bicycle manufacturer of the world by Guinness
Book of world records (indiatoday, 2018).
Brijmohan Lal Munjal was continuously being let down by destiny. His son Raman Kant
Munjal was given the responsibility of setting the manufacturing unit but he died in 1991.
Despite of so many personal losses he was fully determined towards achieving his goal. He
had a thought of expanding Hero to a complete different level. The coming years were marked
by a period of emotional turmoils and diversification by the company. The company launched
Hero Honda Fin lease in the year 1991 followed by hero exports in the year 1993 (Inshorts-
Stay Informed, 2018).
The company further launched IT services and a tie-up with National bicycle industries to
launch high-end bicycles.

Later in 2010, Mr. Munjal strongly cut ties with their partner Honda, inorder to create Hero as
an identifiable brand. The reason for this split was none other than trust and loyalty issues being
faced by Hero in terms of technology and decrease in the profit margin of Hero as they were
unable to offer their products globally except a few nations like Nepal Bangladesh and Sri
Lanka (Doval, 2018).
Expansion of the Hero group took it into fields of Information technology and other related
services. The company has been constantly growing since its inception. The journey of the
company began from a small-town Ludhiana and now it is one of the most respected and
recognized brands worldwide. The company has grown due to a visionary thought process and
a true business icon (Businesstoday.in, 2018).

Analysis of Leadership of Mr. Brijmohan Lal Munjal
“Leader is the one who knows the way, shows the way and goes the way” John C Maxwell
Leadership is the ability to inspire influence and lead a group of people achieving certain
organisational goals. It helps in translating a company’s vision into reality. Leadership is
based on personality and character and does not involve knowledge. A leader should know
how to guide its group/team towards attaining aims (Mindtools.com, 2018).
Analysis of Mr. Brijmohan Lal Munjal’s Leadership traits
Mr. Brijmohan Lal Munjal possesses a unique leadership style, his style fits into a perfect (9,9)
in the managerial grid by Robert R. Blake and Jane Mouton. His style of leading his
subordinates is approachable and inspirational as he focusses on achieving tasks on priority
bases. Mr. Munjal changes and motivates his subordinates according to the changes required
in the work place. By the way he leads his team it can be analysed that Mr. Munjal is a
transformational leader (Dey, 2018) (Managementstudyguide.com, 2018).
As mentioned above, the Hero group has a vision of empowering people with world-class
mobility. Their leader seems to be a visionary one, as he transformed his vision into reality.
While analysing the style of leadership of Mr. Munjal, he followed a Charismatic style of
leading subordinates. The workforce at Hero worked towards achieving the vision of the
company and providing best quality and services to its customers. Mr. Munjal identified the
needs of the market and steadily filled those gaps by making Hero number one today
(Businessline, 2018).
Mr. Munjal was a humble person, always ready and willing to help. He always believed to have
good relations with his vendors and dealers. He would stand by their sides in their thicks and
thins. He looked at his employees as his kids and treated them like family. He was a People’s
man (Modi, 2018).
As mentioned that, Munjal treated his dealers, suppliers and vendors as a family. He came up
with a system like Japanese system of networking with his family (vendors, employees and
dealers). The way Mr. Munjal created networks and built relations helped the company a lot
while the company split from Hero Honda to Hero (Forbes India, 2018).

Leadership qualities of Mr. Brijmohan Lal Munjal
Mr. Munjal is one of the most courageous leaders, he decided to reposition his brand by
splitting apart from a 26-year-old joint venture with Honda. He decided to rebrand his company
from Hero Honda to Hero MotoCorp, while certain risks were attached to this decision. He
took the risk and decided to take the brand to the next level by riding solo (Forbes, 2018).
An individual who adapts to rapid changes in the external environment and shifts in market
trends captures very opportunity that came his way. Mr. Munjal leads by example, before Hero,
he observed lack of bicycle repair stores and opened his own garage. Due to political instability,
he was forced to reallocate his business to Ludhiana, where he tied up with a local bicycle spare
parts manufacturer. He observed the use of bicycle in Ludhiana increased as it was the only
mode of transport for people in those days. He launched the Hero cycles. He adapted to the
change in the market trends and ensured to provide customers what they required, whether it
was garage for repairs or the introduction of Hero cycles. He had a vision of becoming the
number one seller of bicycle in those days, inorder to achieve the vision and get the maximum
market share he hired dealers with a rigorous process so that he could get secure and loyal
dealers that helped the company spread among the lengths and breadths of the country and
become the number 1 brand for bicycles. In a few years from then, the government regularized
and relaxed licences, this is when Munjal got a licence for manufacturing Mopeds. Since there
was a monopoly player in the market and the competition was quite tough, Mr. Munjal came
into a Joint venture with Honda and began manufacturing Hero bikes which transformed the
two-wheeler industry in India (Hasan, 2018).
He believed that his people are his utmost priority, without them the company cannot grow. He
worked towards the development of people by providing every possible help to them or their
families. He honoured every individual who contributed in the growth of the company. He had
created a sense of understanding among him and his employees. If any person working needed
any help in their personal or professional life they could directly reach out to Mr. Munjal. He
treated all employees equally and gave them the same respect any Chief Executive would get.
Mr. Munjal believed in spirituality, his family gave him a title of Karamyogi. He was a selfless
personality, always believed in helping others. He sacrificed a lot to come up to this level, he
is the modern India’s maker as he has touched lives of everyone in some way or the other
(Scribd, 2018).

He had a vision of making Hero a world-class organisation, he never forgot where he came
from, which helped him become a caring and generous boss. He believed in dreaming big but
never forgetting his roots.
He believed safety is very important, inorder to educate people on the same, Mr. Munjal came
up with safety parks that educated on safety and traffic norms for bikers and aimed to provide
education to every girl child.
Mr. Munjal had one point of focus, he worked towards achieving his vision despite so many
hurdles such as relocating business, political instabilities etc. He had an aim of making Hero
the number one automobile giant. He worked on ground with labour rather than sitting in a
luxurious cabin, because his aim was what he worshipped (Modi, 2018).
He was aspiring for a project named Hero’s Garden Factory. This factory was a manufacturing
unit powered by solar energy, with the most advanced technology and greenhouse food
production unit for the community and staff (Nayar, 2018).
Mr. Munjal was extremely patient and was never let down during rough times, rather just kept
working towards achieving his goal, slowly and steadily he was able to create a business empire
which every entrepreneur aims to build one day.
Inorder to analyse leadership at Hero MotoCorp, 5 rule theory by Norm Smallwood should be
used.
Rule 1 Futuristic: Mr. Munjal believed in creating a bright future, he followed his vision.
While he started with cycles he had a picture of expanding to motorcycles in the near future.
Rule 2 Realistic: Mr. Munjal didn’t believe in destiny he created his own paths, and believed
in making things happen by putting in hardwork and dedication.
Rule 3 Talent: Mr. Munjal honoured his people and appreciated their talent, he believed that
Hero is not because of him, but because of the people.
Rule 4 Continuation: While working, Mr. Munjal trained the young ones of his family to
ensure a smooth working of the company in case of any losses.
Rule 5 Learning: He believed that knowledge can never be enough, he led by example. As he
entered the automobile segment he had no knowledge about the workings but gradually he kept
observing and believes that nothing is impossible just a little determination and dedication can
let people achieve what they wish to. (hbr.org, 2018)

CSR Initiatives by Mr. Munjal – Giving back to the Society
CSR VISION - TO HAVE A GREENER, SAFER AND EQUITABLE WORLD
Ride Safe India
Happy Earth
E2 – Educate to Empower
(HeromotoCorp.com, 2018)

Management Learnings
from Mr. Munjal
Mr. Munjal understood the importance of family and prioritised every action towards family.
He gave his family members like his brothers and other immigrants from Pakistan contracts
for producing ancillaries to ensure loyalty and firm management. By providing his family
members with contracts he ensured the success of Hero as he believed they would not deceive
him and be by his side in case of ups and downs.
After the split of Hero and Honda, the company lacked Research and Development capabilities,
but did not give up rather began to look for partners, initially collaborated with Austrian Engine
development for end to end development. He made an investment of 850cr for Research and
Development facilities in Jaipur.
Family businesses often end up in chaos and
misunderstandings, Mr. Munjal worked everything
systematically and ensured there is no clash of personal and
professional lives among the members. He leads with such a
transition, he believed in equality and ensured all the
stakeholders (his four brothers) had equal stake in all business
divisions.

Analysis of Change Management at Hero
“Change is hard at first, messy in the middle and gorgeous in the end” – Robin Sharma
The management of change and development within a business or similar organization is called
Change management
If the plan doesn’t work change the plan, not the goal.
Mr. Munjal was a change agent. He was a practitioner of change and believed that lack of
change will lead to his technology being obsolete. His practices transformed the indian
automobile industry.
(Harvard Business Review, 2018)
Massive Disruption- The Indian market scenario was a witness of 1 year waiting period. The
new company- Hero Honda brought in a disruption in the entire landscape of the Indian
Automobile industry.
The Journey- Change has had been part of Mr Munjal’s journey. What started as a vegetable
business, stands as cycle and world’s largest two-wheeler manufacturer.
The road less taken - Mr Munjal sailed against the tide and adopted a four-stroked industry
contradictory to the industry standards of two stroke industry. This new engine type resulted
in an unmatched mileage and reduction in maintaining costs.
Partnership- The company had to end their partnership of over two decades. This change did
bring in a massive blow in the automotive industry but, at the same time helped company
establish itself on a global scale. This decision turned out to be the most profitable decisions
for Hero of all times.
Dealer Network- Inspired by Japanese Kiteretsu, Mr. Munjal was the first one to introduce
dealership network in India. The company established dealerships at Pan India level.
Hero bikes were created with a wide range, they offered fuel-efficient bikes for middle class
people in India. Now the company is challenging itself by entering the sports segment and aims
to expanding its product range to cruiser bikes by competing with Royal Enfield.
(Harvard Business Review, 2018)

Diversification- Mr. Munjal took the Hero group to a different level by diversifying into fields
such as finance and education.
The company launched Hero Electonix in 2015, which took the Hero group to a global level
for emerging digital opportunities. In the same year, Hero Electronix acquired majority shares
in Mybox Technologies, the largest multi operator manufacturers of set up boxes in the country.
Hero Group came up with Easy Bills, which is India’s first chain of payment collection centres,
it has made the mode of making payments convenient and feasible and has yet added value to
lives of common people (ETAuto.com, 2018) (Bills, 2018).
The group has diversified itself into the Steel industry and has positioned itself in the
secondary steel of North India. Few of its key customers include; JBM, Rockman Industries,
Hero MotoCorp and Maruti Suzuki (Heromotocorp.com, 2018).
Lately the group diversified itself into the education sector providing undergraduate and
postgraduate courses in engineering and management. It is one of the not-for-profit initiatives
of Mr. Munjal. The University has been established with an aim of enabling India with world
class teaching and learning environment (Forbes India, 2018).

Conclusion
Hero is world’s number one two-wheeler manufacturing company. Every second bike in India
is a Hero. It has experience of more than two decades. The company has spread its reach in
lengths and breadths of the country and is continuously working towards tapping the uncharted
territories. Its investment in Research and Development capabilities has given it an edge upon
its competitors and has been dominating the India two-wheeler market since decades.
The growth of the Hero group teaches a lesson, that with hardwork and determination nothing
is impossible, the Munjals are among the richest families in Asia. The company’s revenue for
the FY 18 was approximately US$ 5.3 Billion. (Heromotocorp.com, 2018)
Hero group has diversified into numerous fields and touched lives of a common man. Mr.
Munjal believed in helping the society and honouring the ones who contribute towards the
success of Hero.
Mr. Munjal was a man who revolutionised the Indian two-wheeler industry with his only
purpose of completing customer satisfaction and devotion, he was a People’s man and a
fatherly figure to many, believed in changing business standards with changing market
scenario by adapting risks. He taught the society to have a purpose in life and live for it, his
entire journey reflects the need to become selfless and persistent while working.

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 News, L. and News, B. (2018). Hero MotoCorp Q4 net profit up 35% at Rs 967 crore;
net profit for FY18 stands at Rs 3,697 crore - Firstpost. [online] Firstpost. Available at:
https://www.firstpost.com/business/hero-motocorp-q4-net-profit-up-35-at-rs-967-
crore-net-profit-for-fy18-stands-at-rs-3697-crore-4454151.html [Accessed 10 Dec.
2018].

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