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Business Plan
Submitted By:
Submitted To:
2. Product Line 4
3. Organizational Chart 4
4. Executive Summary 5
5. Vision/Mission 6
6. Historical Background 7
7. Campaigns 8
8. Industry Analysis 10
8.1 Competitors
8.2 Company Life Cycle
8.3 External Envoirment
8.3.1 Technological
8.3.2 Socioculture
8.3.3 Economic
8.3.4 Legal/Political
8.3.5 International
15. Conclusions 19
16. Recommendations 20
17. References 20
18. Bibliography 20
19. Evidences 21
20. Annexure 22
1. Company Description
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The SKF Group is one of the leading global suppliers of
products, solutions and services in the area comprising
rolling bearings, seals, macaronis, services and lubrication
systems. The Group's service offer also includes technical
support, maintenance services, condition monitoring and
training.
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2. Product Line
3. Organizational Chart
CEO
Directors
Country Manager
Area Manager
Sales Manager
Marketing Manager
Finance/ Recovery Manager
Field Workers
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4. Executive Summary
SKF established in 1907, is known as the world leading
supplier of products, solutions and services in the rolling
bearing business and one of the leading players in seals,
mechatronics, services and lubrication systems. It has its
registered head office in Sweden and currently working at
110 sites in 28 countries, with almost 42,888 employees
worldwide. The SKF business is organized into three
divisions: Industrial, Automotive and Service. Each division
serves a global market, focusing on its specific customer
segments. There are seven staff units: Group Legal; Group
Communication; Group Finance; Group Demand Chain;
Group Business Development; Group Human Resources &
Sustainability; and Group Quality & Technology
Development. In Pakistan it has two offices, in Lahore and
Karachi. Lahore office covers the Punjab and N.W.F.P
whereas Karachi office covers Sindh and Balochistan. The
market demand for SKF's products and services is
expected to be higher for the Group. The demand is
expected to be higher in Europe and Latin America,
significantly higher in Asia and relatively unchanged in
North America. The demand is expected to be higher in
the Industrial and Service Division and slightly higher in
the Automotive Division. The manufacturing level for the
second quarter will be unchanged compared to the first
quarter 2007 and significantly higher compared to the
second quarter last year. Although management believes
that the expectations reflected in such forward-looking
statements are reasonable, no assurance can be given
that such expectations will prove to have been correct.
Accordingly, results could differ materially from those
implied in the forward-looking statements as a result of,
among other factors, changes in economic, market and
competitive conditions, changes in the regulatory
environment and other government actions, fluctuations in
exchange rates and other factors mentioned in SKF’s
latest report on file with the SEC (United States Securities
and Exchange Commission) under "Forward-Looking
Statements" and "Risk Factors". 19
5. Vision/Mission
Vision
To equip the world with SKF knowledge
Mission
To be the preferred company...
Drivers
Profitability
Quality
Innovation
Speed
Sustainability
Values
High ethics
Empowerment 19
Openness
Teamwork
6. Historical Background
7. Campaigns
Gothia Cup
Corporate Campaign
8. Industry Analysis
8.1 Competitors
FAG
NTN
NSK
Hundreds of Taiwan and Indian companies
8.3.1 Technological
8.3.2 Socioculture
8.3.3 Economic
8.3.4 Legal/Political
8.3.5 International
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For an international company such as SKF to be
consistently successful, it is vital that in performing our
duties, each and every one of us does so in such a way
that SKF is perceived and acknowledged as economically,
socially and ethically responsible.
Always up to date
Knows market needs
Qualified R&D Department
Satisfies customer needs by quality products
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union members and their workplace.
SKF ensures that wages and other related benefits
meet at least the legal or industry minimum standard
in the country in question.
SKF complies with applicable laws and industry
standard on working hours in each country where we
operate.
SKF is committed to offering safe and healthy
workplaces for all employees. SKF is certified to ISO
14001 and OHSAS 18001. The Group's aim, related to
health and safety, is to eliminate rather than just
reduce work-related accidents and injuries
throughout its facilities.
SKF strives to give employees good opportunities to
train for job enrichment and wider responsibility, as
expressed in the Individual Development Plan.
SKF will give all employees a fair chance to compete
for job opportunities. Unless overridden by national
legislation, only relevant skills and competencies
shall be the differentiating factors in selecting the
right person for the job.
SKF ensures that the registration, filing and use of
employee data is treated with strict confidentiality
and in accordance with local legislation.
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10. SWOT Analysis
Strengths
World wide brand. Almost all the well known
companies in the world use SKF products in its
production line.
In the market for almost a century due to which it has
a kind of monopoly in the market.
SKF always stays up to date and tends to keep its
customers updated with the help of providing
continuous training its staff.
SKF tends to know all the market needs, therefore it
continuously sends the research teams in the market
so as to fulfill them promptly. This acts as a main
factor for the success for SKF.
Qualified R&D Department is one of the primary
reason for its success. SKF hire qualified personnel
from around the globe.
Weakness
High Price is one of the main factors that can effect
SKF adversely especially in those countries and
customers that are price conscious.
As SKF is doing business on a global scale so it has to
cover large area which can be a hurdle in promptly
implementing the decision worldwide.
Opportunity
SKF has a great opportunity as it has been in market
for almost a century and has great experience in
working globally.
Due to worldwide recognition SKF can penetrate in
local markets very easily as compared to newly
emerging companies.
Threats
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Local competitors that have low quality might be a
threat to SKF
12.1 SBUs
Mechatronics
Tools
Bearing and Units
Services
Seals
Lubrication Systems
1. Stars:
Bearing and Units
This SBU has large market share, moreover it
has potential of additional growth and as SKF in
on total at growth stage and this product is most
profitable to them.
2. Question Marks:
Mechatronics
Tools
Although they are not a newly launched product
but have low market share but are expected to
have a lot of share and rapid growth. These
products might become a star if it captures big
portion of market or can be a dog if its market
share does not increases, thus creating still a
great risk for the company.
3. Cash Cows: 19
Services
Seals
These SBUs are SKF's cash cow because they
have slowed down in growth and lies between
growth and maturity stage. Still it is rated high
among its competitors and has been successful
in capturing more market share as compared to
other competitors.
4. Dogs:
Lubrication Systems
This is so because its market share is low and
has small growth rate. It is making little profits
for the company as compared to the rest of the
products
15. Conclusions 19
Overall the company is working profitably, and on a global
scale. It faced a lot of problems in the initial phase but
now it is working smoothly. Company is now concentrating
on expand its business by entering into more countries.
16. Recommendations
They should introduce creativity in their work so that
the employees can do their work active mindedly.
There should be specific marketing procedure other
than directly marketing the targeted customer
There should be performance checks on the field
workers and a supervisor should be hired to check
their daily, weekly or monthly performance.
SKF should take in consideration the buyers with low
budget and should provide discount that can result in
increase in sale volume.
17. References
Habib Ur Rehman Grewal
Sales Engineer
Desk: +92 42 575 6128 – 33
Cell: +92 302 865 2575
E-Mail: habib.ur.rehman.grewal@skf.com
Ehtsham-ul-Haq
Distributor Development/Recovery Officer
Desk: +92 42 575 6128 – 33
Cell: +92 302 844 0397
E-Mail: ehtesham.ul.haq@skf.com
Atique Ahmed
Sales & Application Engineer
Cell: +92 302 8222 059
E-Mail: atique.ahmad@skf.com
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18. Bibliography
www.skf.com
Annual Financial Statement SKF
“Management” by Danny Samson & Richard L. Daft
(Pacific Rim Edition)
19. Evidences
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20. Annexure
Annexure 1
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Annexure 3
Company Life Cycle
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Annexure 3
Porter’s Competitive Forces Model
Annexure 4
BCG Matrix
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