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Executive Summary EXECUTIVE SUMMARY Atlas Honda is the market leader in the motorcycle industry and its efficient working shows this position can be maintained and improved even further in the years to come. Its nearest competitors have still a long way to reach Atlas. The reasons behind this are the quality standards at Atlas, its committed workforce and ample chances of growth at all levels in the organization. Atlas Honda has this exemplary tradition of orientation which gives its new recruits a clear picture of the industry and production employed at the industry. I would like to appreciate Atlas Honda on their efforts and wish them future success (Amen). This report contains the workings of the departments that I visited during the orientation program at Atlas Honda. This report also has suggestions for further improvements to the current working and processes in the organization. 1 ATLAS HONDA ± COMPANY PROFILE Atlas Honda Limited is a joint venture between the Atlas Group and Honda Motor Co. Japan. The company was created by the merger of Panjdarya Limited, Sheikhupura successor to Atlas Epak Ltd., Dhaka since taken over by the Government of Bangladesh and Atlas Autos Ltd. in 1991. Both these motorcycle manufacturing concerns were established by the Atlas Group. Atlas Honda Limited manufactures and markets Honda motorcycles in collaboration with Honda Motor Company. The Company also manufactures shock absorbers under a Technical Assistance Agreement with Showa of Japan, world leaders in shock absorber technology. Honda motorcycles are by far the best selling motorcycles in the country with an unmatched reputation for high quality, reliability and after-sales-service. Atlas has undertaken to develop local manufacturing capabilities to the highest, economically feasible level. While a major role in localization has been assigned to vendor industries, Atlas has the country's largest in-house manufacturing capacity in the industry at its Karachi and Sheikhupura plants. To support the production facilities, the company has established an R&D wing and tool making facilities, which are growing rapidly in size and functions as the company expands. Atlas has managed to execute 9 Joint Venture/Technical Assistance Agreements between local vendors and foreign manufacturers for transfer of technology. Atlas management is striving to modernize company operations by adapting applicable aspects of research and theory and more specially, Honda's unique philosophy of hard/soft technologies to the realities of Pakistani conditions. Efforts are being made to develop participation of all levels of personnel in decision-making and substantial and effective delegation has been established at levels where applicable. Various participation programmes such as 'Ala Mayar' Quality Circles movement, launched in 1985, are 2 strongly encouraged to allow constructive self-expression and teamwork. The Company training and development programme encourages each member to develop himself and contribute to his full potential. Atlas Honda is playing a pioneering role in creating conditions for easy and confident use of motorcycles all over the country. A vast and growing network of over 1500 motorcycles sales service and spare parts dealers has been established. To back up this system, Atlas has set up Technical Training Centers in Karachi, Lahore and Faisalabad, which provide several courses of varying duration and complexity for motorcycle mechanics and users each year. Mobile training facilities take the latest know-how, technology and maintenance of motorcycles to major rural and urban centers around the country. FINANCIAL OUTLOOK FOR THE CURRENT YEAR During the current year, the company produced 117,209 units, which is a 30% increase over the previous year¶s production of 90,064 units. Sales revenue increased to Rs.6.98 billion from Rs.5.52 billion last year showing a growth of 26.44% Profit before tax increased to Rs.650.92 million as against Rs.394.57 million for the previous year. The operating expenses went up to Rs.360.04 million as compared to Rs.322.37 million last year. Price for CD-70 has decreased to Rs. 58500 from Rs.68500 while the price of CG-125 has gone down to Rs.73000 from Rs.83000. This clearly shows that the company is on the progress ladder and will overhaul its competitors by a large percentage. Currently, it holds around more than 60% of the market share in the motorcycle industry. Coordination and extensive efforts of all the departments put together has resulted in improved performance for the company. 3 VISION To remain the market leader in the motorcycle industry and emerge as a globally competitive center of production and exports. PROPOSED VISION Strengthen our dominance as the market leader in the motorcycle industry, emerging as a globally competitive center of production and exports. MISSION STATEMENT To be a dynamic, profitable and growth oriented company through market leadership, excellence in quality and service adding value to shareholders and maximizing exports. To give attractive returns to business associates, shareholders as per their expectations. Be a responsible employer and reward employees according to their ability and performance. To be a good corporate citizen to fulfill its social responsibilities. To create and foster a network of researchers and engineers, who will make unique contributions to the development of motorcycle industry ensuring the satisfaction of our valuable customers and protection of the environment by producing emission - friendly green products. 4 COMPANY POLICY CUSTOMER Our customers are the reasons and sources of our business. It is our joint aim with our dealers to ensure that the customers enjoy the highest value of satisfaction from use of Honda. QUALITY To ensure that our products and services meet the set standards of excellence. LOCAL MANUFACTURING To be the industry leader in indigenization of motorcycle parts. EMPLOYEES Enhance and continuously update each member¶s capabilities and education to provide an environment which encourages practical expression of individual potential in goal directed team efforts and compensate them attractively according to their abilities and performance. TECHNOLOGY Maintain and develop advantage by use of distinct business technology. SHAREHOLDERS Safeguarding shareholder by maximizing profit, payment of regular satisfactory dividend and adding value to shares. CORPORATE CITIZEN To comply with all Government laws and regulations to maintain a high standard of ethics in all operations, and to act as a responsible member of the community. 5 QUALITY POLICY Commitment to provide high quality motorcycles and parts. Right work in first attempt and on time. Maintain and continuously improve quality. Training of manpower and acquisition of latest technology. Safe, clean and a healthy environment. Market leadership and prosperity for all. 6 SWOT ANALYSIS STRENGTHS A cordial, friendly and frank environment free of any communication gaps. MBO (Management by Objectives) ± Targets for the future are set well in advance by the management at Atlas Honda, which provides the employees with goals to work upon and improve any shortcomings. Punch Card system, which creates a sense of accuracy and responsibility in the employees to reach on time and helps to maintain discipline. A standardized uniform for all, which removes any possibility of discrimination and promotes cordiality. Job Rotation is practiced on a regular basis aiding the employee to add to his skills. Kaizen (Japanese principle of continuous improvement) and Ala Mayar (quality standards) strictly followed. This makes sure that the organization and the team at Atlas Honda, keep improving themselves and their surroundings. Well-established brand name in the market. Maximum employee satisfaction ± Turnover less than 1% Adequate exposure to the surroundings to newly recruited employees before assignment of work responsibilities. Continuously growing demand for Honda motorcycles all over Pakistan. Expanding network of dealers and service facilities. Committed management and a dedicated workforce. Transparent and merit-based selection program for new employees. WEAKNESSES Inadequate backup strategies and planning for unforeseen and unpredicted competition. Lack of an established Marketing Research department, therefore lacking in proper forecasting of future activities. No major changes to existing models or introduction of a new model since past few years. 7 Lack of advertising campaigns for promotion of the product and entering newer markets. Lack of extracurricular activities and sponsorship for sports etc. OPPORTUNITIES Huge market size covering all of Pakistan, with lots of unventured markets needing focus and attention, for development into future profitable territories. Population growing and youth need to be focused on, as future prospects of motorcycle customers. Poor quality and performance of Chinese motorcycles can be encashed by Atlas Honda, to project their ever improving quality and sustainability to the customers. Various successful ERP implementations in organizations, supporting need for implementation at Atlas Honda, aiding smooth and efficient flow of business processes. Low prices by competitors induced Honda to decrease its prices resulting in excess demand for the market leader, expected to grow at a larger scale. Ever increasing media for advertising provides Honda with opportunities to project itself in the best-suited way to its prospect customers.
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