...Approach to Knowledge Management at Tata Steel Name Institution Table of Contents Introduction 3 Background to Tata Steel 4 Knowledge Management Initiative at Tata Steel 5 Knowledge Management Phases at Tata Steel 5 Tata Steel Knowledge Management Stakeholders 7 Knowledge Transfer Opportunities 7 Tata Steel Knowledge Transfer Strategies and Instruments 8 Tata Steel Knowledge Management Portal 11 Tata Steel’s Knowledge Management Approaches Achievements 11 Conclusion 12 References 13 Introduction Knowledge management has arisen as an essential aspect that business establishments must consider if they hope to enjoy unimpeded success. In fact, it could turn into a bottleneck if not well managed. Schwartz (2006, p. 3) defines knowledge as a malleable combination of expert interpretation, contextual information, values and experiences that offers an outline for appraising and integrating information with new experiences. Essentially, knowledge is the information that the business entity has collected on their successes, mistakes, business processes, and stakeholders such as customers, suppliers and investors (Schwartz 2006, pp. 3-4). Tata Steel is aware of the importance of knowledge management and has developed unique approaches towards the same. McInerney and Koenig (2011, p. 45) points out that knowledge can exist in either of two forms: explicit or tacit knowledge. Explicit knowledge is tangible knowledge that is embedded in data storage tools such...
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...Contents Q1. Tata steel has taken various strategies in the SCM to improve the performance of the organization. With reference to the Internet based information, discuss various strategic actions taken by this organization with regards to SCM to improve the finance and non- finance performance. 3 Introduction 3 Basic component Supply Chain Management 3 Plan 4 Source 4 Make 4 Deliver 4 Return 4 Supply chain management for logistic 5 Supply chain management for downstream 6 Tata Steel Strategic 6 Tata Steel supply chain logistic strategy 7 Tata Steel Supply Chain downstream strategy 8 Tata Steel finance improvement 9 Tata Steel non-finance improvement 9 Conclusion 11 Q2. Discuss various Supply chain activities (in relation to Lean Management) in a Toyota company in Danish Industries can learn and use for improved performance. 12 Introduction 12 What is Lean 13 Lean supply chain 14 Lean supply chain for Toyota Production System in Denmark 14 Value stream mapping 16 The VSM process 17 Performance improvement with implementation of VSM 17 Conclusion 19 Q1. Tata steel has taken various strategies in the SCM to improve the performance of the organization. With reference to the Internet based information, discuss various strategic actions taken by this organization with regards to SCM to improve the finance and non- finance performance. Introduction The Tata Group of Companies...
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...critical success factors for ERP implementation. They will help in deciding ERP success. TISCO PROFILE This company founded and established in the year 1907 is known to be one of the leading steel giants in the country offering multiple products and successfully running many subsidiary corporations. Being a large entity does not stop things from being subject to scrutiny and internal audit. They are regularly implemented with the help of committees who report to the selected members from the senior management. The company is dedicated to providing laudable services to the stakeholders improve on the quality and as thrive for innovations and improvements constantly. BACKGROUND TATA steel is India’s largest integrated private sector steel company that started its corporate journey in the year 1907. Backed by captive iron ore and coalmines, Tata Steel runs state-of-the-art Cold Rolling Mill complex at Jamshedpur, Eastern India. The enterprise has undergone a modernization programme costing $2.3 billion, resulting in production of steel at the lowest cost in the world. Being a large entity does not stop things from being subject to scrutiny and internal audit. They are regularly implemented with the help of committees who report to the selected members from the senior management. The company is dedicated to providing laudable services to the stakeholders improve on the quality and as thrive for innovations and improvements...
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...An analysis and evaluation of the business model of Tata Group Introduction In the following case we will briefly analyze and evaluate the business model of Tata Group, an Indian giant that is moving into a global powerhouse. We will firstly use the SWOT analysis tool in order to understand the internal and external environment. Then we will strategically position the group with the help of the Porters Generic Strategy which will be followed by an overview of the VRIO model and conclude with looking into the croups portfolio with the Boston Consulting Group (BCG). According to Johnson et all described in their book Exploring Corporate Strategy, ”A business model describes the structure of product, service and information flows and the roles of the participating parties” For example a it is how the description of raw material is being converted to a final product and transferred to the final consumer. SWOT Analysis SWOT analysis is a tool that helps us develop strategic development by creating strategic options and evaluate future planning. This is achieved by identifying and analyzing the most important issues in a company’s environment as well as the strategic capability of an organization. Strengths: * Innovation is one step that Tata has advantage because, the lot of companies the group has helps each other and makes it easier to develop. * Resources are easier to being accessed due to the fact that Tata has a wide range of companies in their portfolio that...
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...Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value is exploited. In this paper, the authors present the experiences of the India-based Tata Steel in implementing...
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...Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value is exploited. In this paper, the authors present the experiences of the India-based Tata Steel in implementing...
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...Tata Steel Tata Steel was set up by Sir Dorabji Tata in 1907 as a part of his father Jamshetji’s Tata Group. Jamshetji dreamed of setting up 4 institutions in India – a Modernized Steel Manufacturing Facility, a Power Plant, a World Class scientific educational institution and a Hotel at par or even better than the global standards. Out of these four, only the Hotel – Taj Mahal Hotel was established during his lifetime. Traditional paternalism; fair and honest management; business ethics and philanthropy are widely recognized as the Tata industrial ethos. Set up at Jamshedpur, in Eastern India, Tata Steel is currently among the global top 10 steel companies with crude steel capacity of over 28mt annually. It operates in 26 countries with commercial presence in over 50 countries, making it world’s most geographically-diversified steel producers. It believes that the principle of mutual benefit – between countries, corporations, customers, employees and communities - is the most effective route to profitable and sustainable growth. The company has a vibrant mechanism for two-way communication, participative management through joint consultation and a high degree of commitment towards its social responsibility. Renowned for its pioneering initiatives in labor welfare and exemplary industrial relations, the company has not lost a single day of work since 1928. Some of the major initiatives in labor welfare which were later converted to laws by government are listed below: Tata...
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...Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value is exploited. In this paper, the authors present the experiences of the India-based Tata Steel in implementing...
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...MANAGEMENT CASE describes a real-life situation faced, a decision or action taken by an individual manager or by an organization at the strategic, functional or operational levels Reinventing a Giant Corporation: The Case of Tata Steel D V R Seshadri and Arabinda Tripathy A KEY WORDS Reinvention Change Management Turnaround Tata Steel Liberalization Response to Globalization t the meeting of the senior management of Tata Steel to celebrate the spectacular performance of the company, Mr. B Muthuraman, the Managing Director, recalled with satisfaction the remarkable strides that the company had made from the difficult days in the early nineties, when the company, used to a protected environment, was suddenly thrown open to global competition, consequent to the liberalization of the Indian economy. The company had closed the year with a record profit of Rs. 34.74 billion. A series of initiatives launched by the company over the last 15 years had culminated in these stellar results although there were many challenges at every step. At each stage in its journey, the company did what needed to be done. In retrospect, however, the various initiatives launched by the company over the years now appeared to fit into a coherent picture. The company had made steady progress over the years and had now achieved a pre-eminent status in the Indian steel industry. It had become one of the lowest cost steel producers in the world five years ago, a distinction that it had continued...
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...Q1. What is the Purpose & Values of TATA Group as a whole? Answer 1. Tata Group companies has evolved a collective commitment to evolving stronger connections between their values and first- in-class business practice – not by putting either one ahead of the other, but by finding mutually beneficial bridges between them. “In a free enterprise, the community is not just another stakeholder in business, but is in fact the very purpose of its existence.” Jamsetji N. Tata (Founder, Tata Group, 1868) “The Tata philosophy of management has always been and is today more than ever, that corporate enterprises must be managed not merely in the interests of their owners, but equally in those of their employees, of the customers of their products, of the local community and finally of the country as a whole.” – J. R. D. Tata Purpose Tata group is committed to improving the quality of life of the communities they serve. They do this by striving for leadership and global competitiveness in the business sectors in which they operate. Their practice of returning to society what they earn evokes trust among consumers, employees, shareholders and the community. They are committed to protecting this heritage of leadership with trust through the manner in which they conduct their business. They have a comprehensive document that serves as an ethical road map for Tata employees and companies, and provides the guidelines by which the group conducts its businesses.it has 21 clauses...
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...IOSR Journal of Business and Management (IOSRJBM) ISSN: 2278-487X Volume 3, Issue 5 (Sep,-Oct. 2012), PP 17-27 www.iosrjournals.org Corporate Social Responsibility: A Case Study Of TATA Group Amit Kumar Srivastava1, Gayatri Negi2, Vipul Mishra3, Shraddha Pandey4 ( 1,4 ( 2 ,3 Shri Ram Murti Smarak College of Engineering & Technology, Bareilly, U P/India ) Career Degree College, kakori, Lucknow /U P / University of Lucknow / India) Abstract: Starting from the times of barter system to today’s modern era of plastic money, the mankind has trodden a remarkably long path. Undoubtedly “profitability” has always been the driving force and an undercurrent behind all this development; but as every coin has two facets; growing cut throat competition and business rivalries started taking heavy toll on the quality, transparency, environment and the society in general endangering the peaceful coexistence of business and society. The businesses houses started realizing that they would have to rise over and above the profitability and take care of all those associated with their survival in the society directly or indirectly. This realization resulted into the concept of Corporate Social Responsibility (CSR). This research paper moves around developing an understanding about the corporate social responsibility (CSR), delving into its concept and finding out its scope taking the case study of the TATA Group under Mr. Ratan Tata who has exemplified the sense of responsibility towards...
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...Reports of Vizag Steel and TATA Steel At Vizag Steel Submitted in partial fulfillment of the requirements by NALSAR University Submitted By Sushma Yanamadala ( Centre for Management Studies National Academy of Legal Studies and Research Shameerpet, Secunderabad. Certificate from Company Declaration I hereby declare that the project entitled “Corporate Governance and Comparative Analysis of the Annual Reports of Vizag Steel and TATA Steel” submitted to the NALSAR University of Law, Centre for Management Studies, Secunderabad has been prepared by Sushma Yanamadala in Corporate Governance Department at Vizag Steel, Vishakapatnam. This embodies the data collected and analyzed under Mr.S.SakthiMani, Company Secretary, at Vizag Steel and hereby approved. The data collected for the analysis and report was provided by Vizag Steel, and was asked to use this information only, which include the company profile, annual reports and articles that have been used for reference. Place: Vishakapatnam Date: Signature of the candidate --------------------------------- ACKNOWLEDGEMENT I sincerely thank Dr. Pinaki Nandan Patnaik, Associate Professor, Centre for management Studies, NALSAR...
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...rule that members of an organization must follow. Each policy addresses an issue important to the organization's mission or operations. * Communicate values and expectations for how things are done at your organization * Keep the organization in compliance with legislation and provide protection against employment claims * Document and implement best practices appropriate to the organization * Support consistent treatment of staff, fairness and transparency * Help management to make decisions that are consistent, uniform and predictable * Protect individuals and the organization from the pressures of expediency A policy should include purpose, scope, responsibilities, definitions, questions, effective date, review date and approval. Organizations commonly have written policies in the following areas for code of conduct, confidentiality, conflict of interest, working conditions, attendance, hours of operations, termination, recruitment, compensation, performance management, learning and development, overtime, privacy, employee information, compassionate leave, vacation, sick Leave, unpaid leave, health and safety and workplace Violence Nestlé Nestlé is committed to the following Business Principles in all countries, taking into account local legislation, cultural and religious practices: EMPLOYMENT POLICIES The Corporate Business Principles outline the Company’s commitment to fully endorse and to respect a series of principles and international...
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...Introduction to the industry Metals have accompanied mankind since ancient ages, and steel, if we begin to follow it from the moment of its historically famed damascene form - for some millennia. From the era of craftsman-like small-scale production to today's form of industrial mass production, steel has covered an intricate path lined with significant innovations in production processes, development of range and quality of products, and perpetually growing productivity of labour, improving economies and ecological load. In addition, a radical change in relationship to the customers is occuring at the end of this century, namely by a pronounced shift of readiness towards the needs and requirements of these customers. Steel's indisputable significance is confirmed by the fact that it has become the second most mass-produced commodity after cement production, attaining the world-wide production volume of approx. 750 mil tons yearly. The art of iron production from ore arose in connection with the practices of copper and lead technologies in Anatolya, in northern Syria and possibly also in part of Iran. Iron ores were added as fluxes for treatment of sulphide copper ores. Iron drops, which the local manufacturers identified already 3000 years BC, comparing these with meteoritic iron, already hinted at the existence of the possibility of producing iron, but this only occurred practically 15 centuries later. Since that time, it is necessary to reckon that only small amounts of this...
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...to create, preserve and grow value in the short, medium and long-term. And thus helping investors to manage risks and allocate resources most efficiently. The IR reporting framework covers six parameters: v Organisational Overview of the Business Model O k loo ut The Busine ss M el od Risks a nd v Operating Context, Risks and Opportunities v Strategic Objectives and Strategies v Governance r Pe Op po r tunities Value Transparently Communicating ategic Obje Str c es a tiv nd Strate ce v Outlook na nce This Annual Report is Tata Steel’s maiden attempt to report in accordance with the above parameters. It is in keeping with Tata Steel’s own belief in transparency, accountability and ethics. A belief that Tata Steel has held strong for over a century. es Go v Performance fo rm an gi r ve The journey towards enduring sustainability Tata Steel has embarked on the journey toward sustainability...
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