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Strive to be on the top, think big, compete global: Munjal to young industrialists
Managing director of Hero Cycles Pankaj Munjal said risks and opportunity go hand-in-hand and it is the failures that have taught him the most important lessons in life.
“When gold medalist Neeraj Chopra threw the javelin during the Olympics final at Tokyo, he outstripped his nearest competitor by merely 91cm. Does anyone remember who came second?” asked Pankaj Munjal, chairperson and managing director of Hero Cycles.
Munjal was addressing industrialists, the majority whom were youngsters during a symposium on “strategies for growth” organised by the Chamber of Commercial and Industrial Undertaking (CICU).
Expounding his point, Munjal said, “In this era of cut-throat competition where a minor laxity can cost one dear, it is the eye for detail and appearance of a finished product, which will determine long-term sustainability.”
Munjal said risks and opportunity go hand-in-hand and it is the failures that have taught him the most important lessons in life.
Heading a company that manufactures one of the most expensive bicycles in the world, (HNF Nicolai priced at 3000 Euros ( ₹2.6 lakh)), Munjal said he always believed in doing what he loved the most.
Munjal said that with the bicycle sector growing globally, it was imperative for the company to shift globally and eye a bigger market.
“When you are thinking of goals in business or life, think of bigger goals as they will grow you into a better individual. The world is changing very rapidly and we will have to change. Good practices need to be followed and adopted in order to sustain growth,” he said.
“It is your passion that is bound to take you places. Discipline is the key; you have to keep looking forward and remain focussed. Think big, think global, compete global,” he said.
Upkar Singh Ahuja, president, CICU highlighted the importance of well-formed strategies as they enable business growth and provide an edge against competitors.
Pankaj Sharma, general secretary, CICU said the evolution of the electric vehicle will open new horizons for the industry.
CICU YBLF member Nitin Dhand introduced Global Alliance for Mass Entrepreneurship (GAME), a programme of the government of Punjab in collaboration with CICU.
