Hero Group to Explore Foreign Markets – Forms a 12 Member Team

The Hero group, promoted by BM Munjal family, is looking to go all guns firing as it forms a 12 member team to craft out strategies to boost two wheeler exports. This move is taken by the group to transform Hero Honda in to a global company. The joint venture pact barred Hero Honda from exporting two wheelers to countries where Honda sells bikes and scooters. This move will help the Hero group after their JV officially ends with Honda in the year 2014.

Anil Dua (Marketing Head and Senior Vice President, Hero Honda) heads the team that will evolve strategies for branding, resource allocation and also identifying potential overseas market. The internal team comprises of seniors and experts from all the departments viz. HR, Finance, Marketing and R&D. Hero Honda’s HR head Anandi Pandey, R&D head Harjeet Singh are part of the cross-functional team.

Mr. Pawan Munjal (MD and CEO, Hero Honda) was of the opinion that the cross functional team comprises of marvels from all the functional departments and the team will consider all the aspects before designing any strategy for the company to evolve as a leader in world markets. He further said that the company’s main aim as of now is only domestic markets but they are even looking to strengthen themselves worldwide so as to leave the company’s footprints in the overseas markets as well.

Honda’s four representatives on the Hero Honda board, including the joint managing director Toshiaki Nakagawa, will resign shortly, paving the way for the inclusion of the second generation BM Munjal family members. The company will also appoint a head for export businesses (as of now only 2% share comes from exports). Hero Honda officials said that the company is looking to set up their assembly units in foreign countries such as North Africa and Latin America because these are emerging two wheeler markets.