As the writer Warren Bennis says, “Leadership is the capacity to translate vision into reality.”
Leadership is the ability of an individual or a group of individuals to influence and guide followers or other members of an organization. A distinguished leader among many others is Amit Bajaj, Founder of Bajaj Formulations, who believes the most important responsibility is to lead from the forefront. Setting examples by execution, rather than giving mere orders or instructions is the key to succeed in the role of a leader. As an organization, Bajaj Formulations tries to be as objective as possible because relativity has no clarity. Amit added, “I strongly believe that active decision making is most important and procrastination is the biggest parasite.”
Amit is enormously inspired by the sportsmanship of Sachin Tendulkar, who motivates people through the way of his spirit. His achievements and failures taught the life lessons to Amit, and enabled him to understand the power of consistency without worrying about criticism. Encouraged by his idol, Amit started focusing on actions and, as a result, today he is a successful entrepreneur in the healthcare industry.
When Amit came to healthcare industry he lacked knowledge and experience. Yet, he still believes that it was the best thing that happened to him. He expresses, “When you are novice you are a blank slate and you are free to create anything. But when you tend to acquire knowledge your mind gets to understand the competition of market. As a result, it is restricting the entrepreneurial trait of risk-taking.”
Amit always prefers to provide friendly environment towards his employees and guides those who make mistakes or take wrong decisions with a correct intent. He encourages taking immediate decisions at all levels in the hierarchy. He provides freedom to his employees to openly express their opinions which create a deep knowledgebase within the team further providing encouragement to work harder.
Amit expresses, “We strongly believe that to grow, one has to fall, learn and ascend. But decisions must be taken on time without procrastination.”
The Concept of Bajaj Formulations and the Mission
Amit states, “The idea was based on the simple economics of MRP based excise duty on pharmaceuticals formulations and co-existence of excise-free zones.”
Amit has an innovative mission to make available medicine for small and medium scale marketing companies. Every year a certain number of people die from the lack of medical help, so the mission of a leader like Amit can definitely eradicate the adversity of medicine’s unavailability.
Organizational Aspects of Amit
The Bajaj Formulations is a third party based formulations manufacturer producing for over 2000 marketing companies across India. They specialize in a large range of products including tablets, capsule, syrups, dry and liquid injectable, soft gelatins, and sachets— all under one roof. Moreover, they have an in-house printing and designing unit for speedy execution of orders.
The company is offering a software based CRM (Customer Relation Management) wherein all the orders and respective tracking of the orders shall be available to the customers online. The CRM shall has the following salient features.
- Real-time status update
- Updates on trigger of every step in the production process
- Two–way-online communication including (but not limited to) placing orders, COA’s etc.
- Mobile apps on both Android and Apple platform
- All order history available online to each customer through a unique identification number
- This is SAP based feature, being made available for the first time in the country for third party manufacturing of pharmaceuticals formulations.
Secret behind the Success
The prevalent life lesson is the intent to relentlessly and consistently improve on present circumstances. Amit believes that everyone has their own unique goals and objective. When people start believing and focusing on their own action, they can easily taste the cherry of success.
Amit Describes the Current Scenario of Healthcare Industry
The current situation of Healthcare industry is very volatile. The industry is struggling between two objectives at the macro level viz. quality medicines and cheap medicines available everywhere. Both the goals are equally important and contradictory to each other. Now, the challenge is to strike a balance.
Wise Words for Budding Entrepreneurs
Amit assures, “Entrepreneurship is nothing but fulfilling your objectives without having a doubt on yourself. It is only possible if the objective continuously motivates you, encourages you and inspires you or else you are cheating on yourself.”
Future Mind-set of the Company
In the coming years, Bajaj Formulations are committed to delivering huge volumes of medicines with the certified quality and minimum lead time coupled together with the CRM based transparency. The organization is actually not worried about the industry volatility because medicines are a necessity, and Bajaj is a prominent manufacturer. Their product is a need; they have the capability to deliver better than anybody; so they believe their organization’s future has to be bright.