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INTRODUCTION OF THE COMPANY
Mr. Vivekanand Akula always had adream of starting up his ownbusiness.
This idea came to his mind duringhis college life.
He took a loan from his friend andstarted a tyre remoulding factoryin partnership with his friend.
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Later he separated from his partner
and started his own business andbecame a dealer of Bridgestone tyres.Wanting to start up a business of his
own, he took a loan from Punjab
national bank and invested Rs. 70000in the company.Mr. Akula is the dealer of Bridgestone
tyres for 9 years now.Mr.Akula was ranked among top 5dealers in Maharashtra by dealersassociation of India
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The Bridgestone tyres established on 1stMarch 1931.
The Bridgestone Groups mission isbased on the words of its founder:Serving Society with Superior Quality.
To fulfil this mission, BridgestoneGroup has used the concept offoundation
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Foundation
Seijitsu-Kyocho [Integrity andTeamwork]
Shinshu-Dokuso [Creative
Pioneering]
Genbutsu-Genba [Decision-Making Based on Verified, On-Site Observations]
Jukuryo-Danko [DecisiveAction after Thorough Planning]
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Major products and operations
Tyres.
Chemical and industrial products.
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Diversifiedproducts.
Sportinggoods.
Bicycles.
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INTERVIEW
PERSONAL
Q: What is your name?A: Vivekanand Akula.
Q: How old are you?
A: 50 years
Q: What is your qualification?A: I have graduated with a B.Com degree.
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Q: What is your strength as abusinessman/person?A: I balance my time betweenbusiness and family.
Q: What is your weakness as abusinessman/person?A: As such no major weakness
just business needs moreemployees and we dont haveit.
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Q. How did the idea of starting thebusiness come to you?
A: At the time I was in college, the ideaof starting this business struck my mind.I had a close friend in college with whomI shared the idea and after graduating
college we together started this business.
Q. What or who inspired you to start thisbusiness?
A: Dhirubhai Ambani is my inspiration
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Q. What was the initial investment of yourbusiness? How did you go ahead with it?
A: My initial investment was Rs.10,000. Ialso took a loan from close friends ofmine and from banks.
Q. Explain the nature of your business.A: We are the exclusive dealers ofBridgestone tyres
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Q. What is the scope of your business?
A: It is at the local level where the directcustomers are authorised car showrooms.
Q: What is the annual turnover of your
business?A: Approximately 6 crores.
Q: What was the turnover initially while
starting the business?A: Approximately 10 lakhs
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Q: What is the management structurethat you follow in your business?A: Not a particular structure as such.
Q: What are the technical skills a personrequires in this business?
A: There are no such technical skillsneeded to start this business. A personshould have good contacts with cardealers.
Q: According to you who do you think isbetter- a qualified person or anexperienced person?
A: Nowadays both are necessary.
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Q: What was the situation when you
started the business? Which all banks didyou approach?A: I approached Punjab National Bank asthe rate of interest was less compared to
other banks.
Q: Legal and procedural format.A: Our company is registered incompanies act 1956
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Q: Would you prefer to expand
your business? Why? How?A: Of course we wish to expandour business; the main reasonfor expanding our business isto earn more profit.
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Q: How do you approach your customer?A: Better quality tyres are provided to the
customers for getting their faith.
Q: How do you build your customersloyalty?A: We build our customers loyalty bygiving them best pre-sales and after salesservices
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Q: Who do you feel is your biggestcompetitor? And how do you overcome it?A: Our biggest competitors are MICHELIN
tyres dealers; we will try to overcome itby providing better quality services to ourcustomer in reasonable price.
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SOCIAL RESPONSIBILITIES
Q: According to you is your businessresponsible for the welfare of the society?A: Yes, I do think so.
Q: What are the social responsibilitiesinitiatives that you undertake?A: There are no such responsibilities.
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Q: Considering your busy schedule of yourbusiness do you get ample time to spend
with your family?A: Yes I do. As and when I get time I am withfamily.
Q: Do you feel your business consumes yourtime that you are not able to fulfil yoursocial responsibilities or commitment to the
fullest?A: This does not happen. I am able tomanage my business and personal life.
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Q: What are the problems that you face inyour business?A: I think more of skilled labour is needed.
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MARKETING MIX: (4 Ps):
4 Ps
PRODUCT
PRICE
PROMOTION
PLACEMENT
Product details:Name of product: Bridgestone
tyresVarieties: Different type oftyresBrand name: MNC tyres thehighest seller of the car radialin India
Pricing strategies:Pricing is done by the
recommendation of thecompany (RCP) Recommended
Company Pricing.
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Promotion:Promotion is done through theadvertisement given in the Television Newspaper
Magazines Trade journal and also through theexhibition, discounts alternative giftsetc. which attract them.
Placement:We have our Exclusive Dealer Agency.
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MICHELIN 20.1%
BRIDGESTONE 18.4%
GOODYEAR 16.9%
MRF 22.0%
APOLLO 20.0 JK TYRE 19.0%
CEAT 16.0%
BIRLA 7.0%
GOODYEAR 6.0%
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We would like to recommend that: The company should get more of
skilled employees in the
business. With the dealing of tyres, thecompany should also startselling lubricants and other car
products. The company can expand their
business as they are doing verywell.
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Advertising with the help of banners indifferent areas would attract morecustomers.
A feedback from the customers would
help the company to exactly figure outthe problem and provide better servicenext time.
The company should give itsemployees incentives to maintainthem.
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Bridgestone is the best company knownfor its tyres.Mayur Tyres is a sole proprietorship
form of business organization This is a start up business and after
this generation either of the sons mighttake over the business.
Strength: Brand name and servicesWeakness: There is less number of
employees.
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Opportunity: There is goodopportunity of expansion by givinggood quality of service.Threat: MICHELIN tyres dealers.
From this project we also came toknow the Qualities of a SuccessfulEntrepreneur:
Perseverance
Interpersonal Skills Willingness to Take Calculated Risks Motivation Time Management
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