Bajaj features in Forbes list of 100 Most Innovative Companies in 2014
Bajaj Auto is on the Forbes list of world’s leading 100 innovative companies. The Pune based automotive major is among top five companies on this prestigious list for the year 2014 in a ranking at No. 96 and is accompanied by five other Indian companies to include Hindustan Unilever, Tata Consultancy Services, L&T and Sun Pharma.
Besides finding mention on this Forbes List, Bajaj Auto also ranked as India’s 5th most valuable brand with a total value of $3 billion in the BrandZ Top 50 Most Valuable India Brands. Bajaj Auto was founded in November 29, 1945 and headquartered in Pune, India is world’s third largest manufacturer of motorcycles and largest manufacturer of three wheelers has come a long way since they ranked at 1,416 in the Forbes Global List 2000.
The Forbes List is compiled taking into account the most innovative companies in the world. Bajaj Auto has a sound strategy where new innovations are concerned both catering to the current and future market demands.
Bajaj Auto wins global recognitions!
· Bajaj Auto is world’s only auto company in Forbes World’s Top 100 Most Innovative Companies 2014
· Bajaj Auto is India’s 5th Most Valuable Brand, according to study by Millward Brown and WPP
New Delhi, 26th August 2014:- Bajaj Auto has added yet another feather in its cap by winning two prestigious global recognitions. The company is amongst the FIVE Most Innovative Indian Companies and the only automotive company featuring in the coveted list of Forbes World’s Top 100 Most Innovative Companies of the year 2014. In addition to that Bajaj Auto was also ranked India’s 5th most valuable Brand, with a value of US$3 billion, according to the first ever BrandZ™ Top 50 Most Valuable Indian Brands ranking.
Mr. Rajiv Bajaj, Managing Director, commenting on this recognition said,
“In business everything is determined by one thing – its strategy. In a hypercompetitive world, the sole purpose of a business strategy is to differentiate the business from its competition.
A sound strategy does this by creating new categories for its brands to dominate, rather than have them unimaginatively serve existing categories.
He further added,”Our Pulsar, Discover, & RE brands are a result of such a strategy at Bajaj, making us the world’s most profitable auto company, with almost half our sales coming from overseas markets.”
World’s Top 100 Most Innovative Companies
Forbes uses a unique methodology relying on the “wisdom of the crowd” to compile the list of the top 100 most innovative companies in the world.
According to Forbes, measurement of innovation is an evaluation of the investors’ ability to identify firms they expect to innovate now and in the future. Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT).
Brandz Top 50 Most Valuable Indian Brands
The combined brand value of the BrandZ Top 50 Most Valuable Indian Brands is almost US$70bn. Carried out by WPP’s marketing and brand consultancy Millward Brown, the valuation is the only one in India that takes into account consumers’ opinion of brands to calculate the contribution that product brands make to business success.
The diversity of brands in the ranking – enabled through the country’s openness and ‘right to play’ for businesses – indicates that India is a fertile market for building valuable brands, irrespective of age, origin, structure, category, ownership or even price range. The Top 50 come from 13 different categories. Seventeen are multi-national corporations (MNCs), 26 are private Indian brands and seven are state-owned brands.
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