...Corporate Internship Report “Steel Service Center in Indian Steel Market & It’s Relevance to JSPL’s Future Expansion” Internship Report submitted as a partial requirement for the award of the two year Master of Business Administration Program Submitted by Vinay Aggarwal 08609086 MBA (2008-2010) Company Guide Faculty Guide Mr. Subimal K. Sarmah Ms. Dimple Grover Asst. General Manager (Marketing Dept.) Jaypee Business School Jindal Steel & Power Limited Jaypee Business School (A constituent of Jaypee Institute of Information Technology University) (A-10, Sector 62, Noida (UP) India-201307) ...
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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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...There are a few significant reasons Nucor has done really well in the past. Ken Iverson had a unique strategic vision for the administration of the workforce, optimizing operational efficiency of plants and making wise investment decisions overall. As a result, Nucor demonstrated superior capabilities by effectively using its resources to develop efficiencies in volume production, and bring products to market more cheaply and more quickly than its competitors. To begin, Nucor utilized a combination of research and development activities that advanced the speed and efficiency of its production process. The company invested heavily and steadily in its capacity and made serious efforts to embody technological advances. Nucor was able to lower its overall costs using their extensive experience in building and remodeling minimills in ways other firms were unable to imitate. Not only Nucor has been able to start up its steel mills within 18 months of groundbreaking, but also it had the speed of delivery to customers and suppliers by locating mills in similar geographic regions. Without a doubt, Nucor was the low cost- high efficiency leader in the market. In addition, the workforce was held accountable for the performance of the business at all levels. The company decentralized as many decisions down to the plant as possible but held managers accountable for an annual contribution of 25% of the net assets employed at that plant. The workers also received performance-based...
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...Chapter – I INTRODUCTION 1.Introduction of Project Work : Why Commodity Futures? ADVANTAGES OF FUTURES MARKET TO ITS VARIOUS PARTICIPANTS Stockiest / Jewelers / Farmers | | Traders, Jobbers & Arbitragers | * Can hedge their underlying * Get an extensive market * Can get loan against Warehouse Receipts | | Trading Opportunity | Investment Opportunity | Corporates | | Additional Advantage | * Can hedge by offsetting product exposure * Can hedge by parking only margin amount * Can buy goods without agents with Quality Assurance | | Spread Trading Opportunity | Arbitrage Opportunity | TABLE-1.1 Why Indian Commodity Exchange? India is essentially a commodity based economy constituting of Agriculture, Energy, Precious Metals and Base Metals. Couple of unique features / advantage seen in our exchanges, which is not seen elsewhere, are: 1. Timings: Our Trade timings are well matched with Global Market timings. 2. Number of commodities: Nowhere in the world more than 8 to 10 commodities are traded in a single exchange, but our exchanges are successfully managing over 40 commodities individually. Why Sharekhan? Superior & Consistant Research Performance of…. 1. Cutting Edge Analysis of Major Commodities 2. Relevent Analysis of Market News & Information 3. Sound Technical Analysis for Short Term Trends 4. Special Reports such as… * Hedge Solutions: To offset Product Exposure...
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...capacity by a factor of 10, closer to market locations • Currently minimills have expanded their product base (to high end products) and geographic focus, thereby resulting in break-down of geographic insulation. This resulted in reduction in volume growth, which reached single digits in 1980s • Reorganization and buy-outs of other mini-mills in the face of changing environment • R&D going on for evaluation of various alternative casting technologies. None proved commercially feasible yet Company • Faced tough times until the hiring of CEO Ken Iverson in 1962. He decided to divest most of the businesses and focus on the core steel business. He has also risked to build company’s modern minimill in Darlington in 1962 • Two pillars of success: Build steel plants economically and operate them efficiently • Second most productive steel maker globally • Flat hierarchical structure with only 5 layers of management, with clear distinctions of roles, responsibilities and autonomy. Capital budgeting - top management, Other decisions - plant management, Strict minimal level of 25% set for annual contribution over net assets • Green compensation system: Low base and high variable pay, no discrimination on designations, In addition to the concerned plant, other company plants also sent regular reports to promote interplant competition (also, formal and informal channels existed for interplant...
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...DaDanieli Far East, Thailand Total surface: 570,000 m². Manufacturing and assembly area: 170,000 m². Technical and administrative offices: 12,000 m². Employment: 2,000 engineers. Sales, engineering, manufacturing, project management and R&D. Start of operations: September 2005. Danieli Metallurgical Equipment (Beijing), China Total surface: 25,000 m². Manufacturing workshop: 10,000 m². Technical and administrative offices: 5,000 m². Employment: 400 engineers. Sales, engineering, manufacturing, project management. Start of operations: September 2005. Danieli Changshu Metallurgical Equipment and Service, China Total surface: 90,000 m². Manufacturing workshop: 40,000 m². Technical and administrative offices: 5,000 m². Employment: 600 engineers. Sales, engineering, manufacturing, project management. Start of operations: October 2007. Danieli Engineering and Service Völkermarkt, Carinthia, Austria Total surface: 40,000 m². Service workshop: 6,000 m². Technical and administrative offices: 1,400 m². Employment: 90 engineers. Sales, engineering, service and spare parts. Start of operations: March 2008. The Danieli Headquarters in Buttrio, Italy Stands on an area of 320,000 m², of which 92,000 are for workshops and assembly and 28,000 for technical, commercial and administrative offices, and R&D. The sister companies in Europe have 46,000 m² of workshop/assembly area and 7,900 m² for technical offices. http://www.danieli.com/danieli-team/danieli-team ...
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...cycle—times are good, interest rates are low, people are building—our margins increase. When we go to the trough, of course, the margins are squeezed. But over the last 25 years Nucor has never had a losing quarter. Not only a losing quarter, we have never had a losing month or a losing 1 week. —John D. Correnti, President and CEO, Nucor In 1998, Nucor was a Fortune 500 company with 6,900 employees and had sales of $4.3 billion in steel and steel-related products. Its chairman, F. Kenneth Iverson, had headed the company for more than 30 years. During his tenure, the steel industry faced a number of problems, including foreign competition, strained labor relations, and slowed demand for steel (related in part to the substitution of alternative materials). Despite these industry challenges, Nucor’s sales during Iverson’s tenure grew at an annual compound rate of about 17 percent per annum. Selected comparative financial data are shown in Exhibit 1. In different years, both Iverson and Nucor CEO John Correnti were named Steelmaker of the Year by New Steel magazine. History Nucor traced its origins to auto manufacturer Ransom E. Olds, who founded Oldsmobile and, later, Reo Motor Cars. Through a series of transactions, the company Olds founded eventually became the Nuclear Corporation of America, a company involved in the nuclear instrument and electronics business in the 1950’s and early 1960’s. The firm suffered several money-losing years, and in 1965, facing bankruptcy, installed...
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...Global Business Cultural Analysis: Brazil Liberty University BUSI 604 Abstract This research paper analyzes the effect of Globalization on the country of Brazil, and how its economy compares to other South American countries and the world. This review will provide factual evidence of the integration of the Brazilian products internationally, and how its economy has evolved to compete in the international markets. A Comparative summary of evidence will be provided in this analysis between the business culture of Brazil, North American, Central America, the Caribbean, and other South American countries economic framework. The framework of the origins of Brazil, and to the progression of the nation into one of the top economies; will be discussed in this assignment. A small glimpse of the picturesque country will be provided in the form of pictures, to give the reader a greater ability to visualize this country and its inhabitance. The major elements and dimension of culture is reviewed, and these dimensions are; what the major elements and dimensions of culture are in this region; how these elements and dimensions are integrated by the locals conducting business in this region; how these cultures and dimensions compare with U.S. cultures and business; and what the implications are for U.S. businesses that wish to conduct business in that region. This paper will review some of the desires of Brazil’s government to be one of the world’s leading...
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...integrated Steel Plant – a case study Name of the Scholar : O. Rama Mohan Rao AGM (Pers), Visakhapatnam Steel Plant Dept : Mechanical Engineering Name of the guide : Dr. K.Venkata Subbaiah, Ph.D, Professor in Mech. Engg., Andhra University Dept : Mechanical Engineering ABSTRACT Globalization is making most of the organizations, sectors more intensely competitive. Many organizations are struggling to improve their operating performance in response to market demands for lower costs, higher-quality products and services, shorter lead times, and higher returns on investment in infrastructure and resources. To address issues of competitiveness and to uncover hidden value, our clients find that Lean Six Sigma technique is one of the most powerful platforms available. This research addresses the application of Lean and Six Sigma tools to increase the productivity and improve the quality in the steel industry. It illustrates the procedures of implementing lean tools in a process industry with emphasis on Value stream mapping, 5 s and six sigma tools. Study on Integrated applications of lean & six sigma tools in a continuous process industry are limited. The thesis hypothesizes that there are lot of opportunities for improvement in the process industries like steel if lean and six sigma tools are integrated and utilized. It systematically demonstrates how lean manufacturing tools when used appropriately can help the steel industry...
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...Regulations and Support Key Domestic & Foreign Players Future outlook Contact For Information A report by KPMG for IBEF 2 4 9 12 13 17 18 Market Overview The metal industry is a key sector in the Indian economy as it meets the requirements of a wide range of important industries such as engineering, electrical and electronics, infrastructure, automobile and automobile components, packaging etc. The metal industry consists of two major groups: ferrous metals and non-ferrous metals. Non-ferrous metals, which include aluminium, copper, zinc, lead, nickel and tin, are used to make alloys, castings, forgings, extrusions, wires, cables, pipes, etc., and find their application in a number of sectors such as agriculture, infrastructure facilities like power plants, automobiles, railways, telecommunications, building and construction and in engineering and chemical plants. There are significant reserves of non-ferrous metal ores in India. India is rich in bauxite (aluminium ore) and has grades of zinc, lead and copper reserves. Copper, lead and zinc are also imported as scrap or concentrates to be processed by secondary/custom smelters. Nickel and tin are also imported by India. Ferrous metals primarily consist of iron and different varieties of steel. Indian steel industry has shown strong performance in the recent past in terms of production, capacity utilisation, exports and consumption. India is now a major competitor among steel producers in the world. The sSteel industry contributes...
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...IRON & STEEL SECTOR ANALYSIS General View of World Economy The world economy changed especially after the global crisis in 2008 . Advanced economies known as the giant economies of western countries affected very deeply by the crisis. The results of the crisis affected particularly in Europe.Today, many European countries came to the brink of collapsefinancially especially Greece and Portugal.On the other hand, China and India continued to grow without experiencing any problem. For about 10 years, these two giant countries continues to grow were successful in the crisis period. According to official data from 2010,China became the world's second largest economy. India became one of the top 10 economy.In addition to this, Far Eastern countries such as Korea, Thailand, Vietnam were not affected by the crisis as much as European countries . According to IMF Report, In 2009 the total global GDP at current prices fell from $ 61.2 trillion to $ 57.9 trillion. Contraction in the world economy remained in a low level with 0.6% in constant prices. Downsizing is mainly originated from developed countries. In 2009, economies of developed countries shrank 3.2%, developing countries grew 2.4%.The growth of developing countries were originated by mostly Asian countries. Asian countries grew 6.6%.Middle and Eastern European countries shrank by 3.7%. The growth of China 8% and India 5.7% pulled down the global recession. European heavyweights, Germany's growth fell from estimate ...
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...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 to maintain. All key performance indicators indicated that the company was in the...
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...teelIRON AND STEEL INDUSTRY IN INDIA Corporate Catalyst India A report on Indian Iron and Steel Industry OVERVIEW 1.1 Background The Indian iron and steel industry is nearly a century old, with Tata Iron & Steel Co (Tata Steel) as the first integrated steel plant to be set up in 1907. It was the first core sector to be completely freed from the licensing regime (in 1990-91) and the pricing and distribution controls. The steel industry is expanding worldwide. For a number of years it has been benefiting from the exceptionally buoyant Asian economies (mainly India and China). The economic modernization processes in these countries are driving the sharp rise in demand for steel. The New Industrial policy adopted by the Government of India has opened up the iron and steel sector for private investment by removing it from the list of industries reserved for public sector and exempting it from compulsory licensing. Imports of foreign technology as well as foreign direct investment are freely permitted up to certain limits under an automatic route. This, along with the other initiatives taken by the Government has given a definite impetus for entry, participation and growth of the private sector in the steel industry. While the existing units are being modernized/expanded, a large number of new/greenfield steel plants have also come up in different parts of the country based on modern, cost effective, state of-the-art technologies. Soaring demand by sectors like infrastructure...
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...A Project Report on “WORKING CAPITAL MANAGEMENT” In SUJANA METAL PRODUCTS LTD. Hyderabad. Submitted in partial fulfillment of the Requirements for the award of the degree of MASTER OF BUSINESS ADMINISTRATION BY SUMAN NEELI Under the Guidance of Mr. K. SATISH Asst. Manager (F & M) [pic] DEPARTMENT OF MANAGEMENT STUDIES INDIAN INSTITUTE OF PLANNING MANAGEMENT BANJARAHILLS, HYDERABAD. 2010 – 2012 INDIAN INSTITUTE OF PLANNING MANAGEMENT BANJARAHILLS, HYDERABAD. DEPARTMENT OF MANAGEMENT STUDIES [pic] CERTIFICATE This is to certify that the project titled WORKING CAPITAL MANAGEMENT is being submitted by SUMAN NEELI partial fulfillment for the award of the degree of MASTER OF BUSINESS ADMINISTRATION (MBA) is record bonafide work carried by him. The results embodied in this report have not been submitted to any other university for the award of any degree. ACKNOWLEDGEMENT With immense pleasure and deep sense of gratitude, I express my indebtedness to my project guide Mr. K. SATISH for giving good guidance and keen interest in the progress of the work. I am also thankful to Laxmi Prasanna (Accounts & Finance Department) SUJANA METAL PRODUCT LTD in Hyderabad for giving me permission to undertake the study in the Organization and he providing required sources for completion of my project. I am thankful to …………. I am also express my great sense of gratitude to my beloved parents and my friends who...
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...Division of the School of Arts and Sciences In Partial Fulfillment of the Requirements for the Degree of Master of Science in Organizational Dynamics at the University of Pennsylvania Philadelphia, Pennsylvania 2006 NUCOR CORPORATION: A STUDY ON EVOLUTION TOWARD STRATEGIC FIT Approved by: ________________________________________________ Program Director ________________________________________________ Advisor ABSTRACT For much of its century long history, Nucor Corporation and its predecessors displayed turbulent financial performance. Several attempts at a strategic realignment proved unsuccessful, and in 1965, the company faced insolvency. Since that time, however, the company has rallied around its steel operations to become the largest steel producer in the United States, with $12.7 billion in net annual sales. This thesis examines Nucor’s development from an unprofitable conglomerate to a highly efficient enterprise. Specific focus on the evolution of the activity system underlying the...
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