Mrf tyres concept of management
This document outlines the vision, mission, five forces analysis, BCG matrix, SWOT analysis, core competencies, balanced scorecard, and principles for building a company to last for a tire manufacturing company. The vision is to provide highest quality products and services for total customer satisfaction. The mission is to be the number one tire brand in India and most profitable through customer obsession, high quality tires, and value for stakeholders. The five forces analysis finds supplier bargaining power and rivalry to be high threats. The BCG matrix shows tires as the cash cow. The SWOT analysis identifies innovation, supply chain, and market share as strengths and rising costs and competition as threats. Core competencies are identified as innovation, training, risk-
Mrf tyres concept of management
- 2. VISION: “MRF will at all times provide total customer satisfaction through products & services of highest quality and reliability” To be amongst the most admired companies in India, committed to excellence MISSION: Be a Customer Obsessed Company - Customer First 24x7 No.1 Tyre Brand in India Most profitable Tyre Company in India Be a Green Company Deliver Enhanced Value to all stakeholders
- 3. FIVE FORCES:
- 4. BARGAINING POWER OF SUPLIERS: HIGH Number of suppliers – low Availability/ acceptability of raw material substitutes – low Switching cost – high Tyre industry not the key customer
- 5. BARGAINING POWER OF BUYERS: OEM’s HIGH In replacement market MODERATE Switching cost LOW
- 6. THREAT OF NEW ENTRANTS: LOW, Due to high entry barriers Highly capital intensive industry High raw material costs Shortage of raw material Force of rivalry High risk
- 7. RIVALRY AMONG EXISTING COMPETITORS: HIGH Low value added product with high competition 80% of market share with top 4 players Consolidation expected as the industry nearing maturity
- 10. STAR CASH COW DOG QUESTION MARK TYRES FUNSKOOL PAINTS AND COATS PRETREADS HIGHLOW MARKETGROWTHRATE RELATIVE MARKET SHARE BCG MATRIX:
- 11. SWOT ANALYSIS: STRENGTHS: Innovation Supply chain Market share leadership Strong financial position OPPORTUNITES: Acquisitions Emerging markets & improved lifestyle Product & service expansion Expansion abroad WEAKNESS: Low R & D Rising rubber price THREATS: Price wars Competition External charges(taxes, policies)
- 13. BALANCED SCORECARD: FINANCIAL MAXIMIZE SHAREHOLDER VALUE CUSTOMER INTERNAL BUSINESS PROCESS LEARNING & GROWTH FULFILL CUSTOMER EXPECTATIONS CREATE HIGH QUALITY PRODUCTS TRAIN EMPLOYEES RECRUIT QUALITY STAFF MAXIMIZE OPERATIONAL EFFECTIVENESS EXPAND REVENUE OPPORTUNITIES LOW COST MANUFACTURING MARKS TOTAL = 29/40 8/10 8/10 6/10 7/10
- 14. BUILD TO LAST: 1. Strict to core competence 2. Acceptance of mistakes 3. Take risk 4. In sync with vision