... Working in the steel industry can be quite rewarding at times, but when working in human resources one gets to see a different perspective on things. There was an article written about a study of Steel Finishing Lines and their human resource management practices. That study included a thorough investigation of the productivity effects of innovative employment practices using data from a sample of 36 homogeneous steel production lines owned by 17 companies. The production lapses demonstrated how lines using a particular set of innovative work practices have higher production rates than lines that use a more traditional approach with stricter work rules. The main focus of this research is the people. How are people treated and their response to such treatment? Often times, many companies lose focus of what is actually important for their organization which is the people that they employ. Instead they tend to focus more on the numbers; money being made. The people are what make a company successful; whether it be the people that the company employs or the people that the company serves. At the end of the day it is all one big revolving cycle. This study presented evidence on how productivity is measured based upon the employment practices of some steel finishing locations. One of the primary issues in this study though is that it is not based around a broad spectrum. For example, the study conducted was just restricted to one particular type of steel manufacturing process...
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...What are business ethics and sustainability? Introduction Steel is a unique and vital material. It touches almost every part of modern life. It is a key element of our infrastructure. From buses to buildings, from canned food to computers, almost everything we see around us is either made of steel or is made using steel. Steel is essential to modern society. TATA Steel Ltd. is the third largest steel producer in Europe and has its main steelmaking plants in the UK and Holland. It supplies steel and related services to major industries, such as construction, vehicle production and packaging. The European operations are a subsidiary of TATA Steel Ltd. ,one of the world’s top ten steel producers. The combined Group has around 50,000 employees. The challenges of sustainability A commitment to environmentally-sound practices is part of many businesses’ commitment to act responsibly. Social responsibility refers to an organisation’s obligations to maximise its long-term positive impacts and minimise its negative impacts on society. For TATA Steel Ltd., it is a core part of its vision to be ‘the global steel industry benchmark for value creation and corporate citizenship.’ TATA Steel Ltd. is committed to tackling the challenges of sustainability. This means that it takes its responsibility towards both the environment and its communities seriously, balancing these against the need to make a profit. It has put systems in place to meet international standards for environmental...
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...Case study of ERP Topic:Compare SAP at TATA Steel and SAP at CO-OPERATIVE BULK HANDLING LTD.(CBH) Submitted to:Mr. Pradeep Kumar Date: April 6, 2013 Section: K1108 Roll no: B34, B36, B40 Index: 1. Introduction 2. SAP 3. TISCO 4. Implementation of ERP at TATA Steel 5.1 Problems occurred 5.2 Solution and implementation 5.3 Benefits 5. What change has occurred after the SAP implementation at Tata steel? 6. Sap at Co- Operative Bulk Handling ltd (CBH) 7.4 Problems occurred 7.5 Solution and implementation 7.6 Benefits 7. Comparison SAP at Tata steel and Co -operative bulk handling 8. References Acknowledgement Through this case study we get the opportunity to learn about the process of implementation of ERP so we thanks to all those who guided us and corrected us at each step in making of this case study and helped us for making successful and satisfactory completion of this case study. We are highly thankful to our subject teacher Mr. Pradeep Kumar for providing his active support, valuable time, guidance and sincere cooperation during the study and in completing the assignment of preparing the said project within the time. Lastly, we are thankful to all those, particularly the group friends, who have been helped us in creating proper and conductive environment and including new and fresh innovative ideas for us during the project. Introduction: Through this case study we...
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...A TERM PAPER ON :- HR POLICY PRACTISED BY TATA STEEL HR POLICY :- Human resource policy refers to formal rules and guidelines put in place by companies concerning the hiring, training, assessment and reward of their employees. The purpose of creating and disseminating a formal human resource policy is to prevent misunderstandings between employees and employers about the rights and obligations of a workplace. ABOUT TATA STEEL :- * Tata Steel is the world's sixth largest steel manufacturer. It operates in more than 20 countries and has a commercial presence in over 50. * The company was established in Jamshedpur, India, in 1907. In the past few years, Tata Steel has invested in Corus (UK), Millennium Steel (renamed Tata Steel Thailand) and NatSteel Holdings (Singapore). * The company has created a manufacturing and marketing network in Europe, South East Asia and the Pacific-rim countries. It has the capacity to produce over 30 million tonnes of crude steel every year. MAJOR STEEL BRANDS OF TATA STEEL :- * Galvano * Tata tiscon * Tata steelium * Tata bearings * Tata pipes OBJECTIVE :- * To understand the hr policy of tata steel * To know the special benefits provided to employee * To understand the how officers and non officers develop their skills SOURCES OF DATA :- This study is largely based on secondary sources of information. Data have been gathered from e-journals REVIEW OF LITERATURE :- MANPOWER...
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...manipulate other resources in order to achieve these goals and objectives of the organization. For the above-mentioned reasons the growth of steel industry (Turnkey project), should be an issue of interest, especially when katsina steel rolling company is faced with challenges of transforming into a dynamic residence It is through this that we can see the inter-connectedness of how effective management of employee can lead to achieving of objectives in the production sector, a case study of Katsina Steel Rolling Company which is a Turnkey project. Therefore there is need to understand how to use employee which at time leads to avoid employee discontent. Employee discontent manifest in so many ways, such as high labour turn over, minimal effort, high absenteeism, disruptive behavior, malingering, equipment breakdown and works stoppage, which causes low productivity. Therefore, the management had to enforce some strict measures of control. To lead human being indeed successfully one had to exercise some measures of control and authority. Successfully manager or leader must be one who stood above his followers and showered orders on them to obey. Leaders are those who decide for their men not only to do but how it should be done. Organizations today are much larger and both the manager and the managed are all employee of that company, to get people to work Under this circumstances effectively, a different approach might be adopted because the relationship are becoming more and more...
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...Case study for Nucor steel company Case studies bring interesting, real-world circumstances in the study of business fields. Managers make different decisions in their companies, and each decision has a direct influence in revenue, costs, and profits. In analyzing the case study of Nucor steel company, different central firm issues, firm goals, the constraints to improving the firm and the relevant alternatives to counter the problems are addressed. To grow in steel market, metal producers are increasingly expanding territories, not only to better manage input costs, but also to secure access to strategic raw materials. With improving economies’ growth is expected to boost desire for many to purchase the product in the medium term. Steel producers and mini-mill companies are situated in the midst of a very competitive environment in both domestic and global scale which adversely affects their profitability. This competition among steelmakers is to capture a significant portion of the steel market in light of the fact that, the global supply of steel far exceeds the demand for steel products (Thompson, 207). The first competitive forces impacting steelmakers is the force to drive down the profitability of steel industry, steelmakers are primarily affected by the abundant steel supply versus demand, which depresses the market price of steel as a commodity. Competition among steelmakers is to lower product prices in order to capture a significant portion of potential customers...
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...Precision Worldwide, Inc. Case Study BUS5431 – Managerial Accounting Summary Precision Worldwide, Inc. (PWI) manufactures industrial equipment and parts for sale in numerous countries. Repair and replacement parts account for a substantial part of the company’s business with the replacement part in question, steel rings, occur in the machines manufactured only in PWI’s German plant, but can also be used on some competitor’s machines. This steel ring has an average normal life of about 2 months. These individual rings are replaced as they wear out and recently competition has increased and now a competitor has entered the market with a superior and less expensive plastic ring that can replace the steel ring. The general manager of the German plant, Hans Thorborg has been considering the introduction of a similar plastic rings as a substitute for the steel rings. There is a lot of potential for this product in this market because there is a lower manufacturing cost and a greater durability compare to steel rings. The company is wondering if it is worth to shift from steel rings to plastic rings, but there are a lot of facts that they need to consider. There has been conflicting views concerning the future of the steel rings departments if they should change to plastic rings in order to acquire competitive advantage in this market and what will they do with the special steel after they have implemented the new product. A decision must be made as whether to start producing...
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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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...waste [1]. Lean Production is the practice of mass production in which work is completed in minimum time, in a smaller space, with very few workers, with less equipment, and yet achieves highest level of quality in final product [2]. Since the evolution of Toyota Production System in 1950s [2], the lean movement has been widely accepted in automobile industry. However, acceptance of lean technology in the process industries (steel sector) have been much slower [3]-[4]. For removing the obstacles like resource complexity, the idea of the point of discretization for the process industry has been explained by Abdulmalek et al. (2006). This notion is based on the fact that in production flow route...
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...Project Report On ANALYSIS OF FINANCIAL ACTIVITIES IN TATA STEEL, WEST BOKARO UNDERTAKEN AT TATA STEEL LTD., WEST BOKARO DIVISION, RAMGARH, JHARKHAND Under the guidance of “Mr. M.R.S.S. Srinivas (Manager Accounts) & Mr. Kumar Sunil (Accounts Head)” Submitted as a part of academic curriculum for the award of The degree of Post Graduate Program in Management Indian Institute of Management Rohtak By: Ashish Priyadarshi PGP05.114 AUTHENTICATION CERTIFICATE “To Whom It May Concern” This is to certify that the Internship Dissertation, titled “ANALYSIS OF FINANCIAL ACTIVITIES IN TATA STEEL, WEST BOKARO”, is a bonafide work carried out by me at Tata Steel Ltd. It is the record of an original & independent study carried out by me, under the able supervision of Mr M.R.S.S. Srinivas (Manager Accounts). Signature of the Intern Ashish Priyadarshi Date:- Place:- Company guide’s certificate “To Whom It May Concern” This is to certify that the Internship Dissertation, titled “Analysis of Financial Activities in Tata Steel, West Bokaro” submitted by Mr. ASHISH PRIYADARSHI is a bonafide work carried out by him at TATA STEEL LTD. under my guidance. The matter embodies in this dissertation has not been submitted earlier for award of any degree or diloma to the best of my knowledge and belief. I recommend its submission for evaluation. Signature of company guide 1. MR...
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...POSCO Proposed Project in Orissa – Case Study & Analysis Disclaimer • • • • While studying & analysing the case supplementary reading materials have been referred to (source: the Internet) & also quoted in this text. Figures, images & other exhibits used in answering the questions of the case have been sourced from the internet. The name of the state of Orissa has been changed to Odisha. However, for the sake of consistency & in line with the case the state has been referred to as Orissa throughout in the answers. All dates & timelines mentioned in the answers are with reference to the time frame of the case. 1. What are the socio-economic and environmental costs of proposed POSCO Projects? Before proceeding to identify the socio-economic and environmental costs of proposed POSCO Projects lets quickly look into the broad aspects of the project first from the state’s, the company’s & the steel industry’s perspectives in general: The Pohang Iron and Steel Company, or POSCO based in Pohang, South Korea, is the world's fourthlargest steel maker by market value and Asia’s most profitable steelmaker. Korea is the world leader in shipbuilding & gradually becoming a leading automobile manufacturer in the world. Both these industries depend heavily on steel & this is where the role & importance of POSCO for supplying steel becomes paramount. POSCO has been seen as the bedrock of Korea's industrial development over the past 40 years. The steel market, growing at an annual rate...
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...Managerial Accounting Week 2 Group Discussion Week 2: Group Work- Harvard Business Case 1 Group Members: Michael Fant, Jennifer Meyering, Christopher Presley, James Ramson, Jacinta Stockton, Alistair Winfield, Judy Zeitang What action should Hans Thorborg take? Why? Our analysis of this case is to advise Hans Thorborg to move to producing the plastic rings. It is important for PWI to evolve with the industry, and refusing to transition to the new product could have a devastating impact on their future sales. Although PWI has a strong presence in the market, it’s stated in the case study that the plastic rings have at least four times the wearing properties of the steel rings. Therefore, while the steel ring currently lasts for an estimated two months, the plastic ring will last for an estimated eight months. Buying a plastic ring would guarantee a customer a better quality product and essentially a better bang for their buck. Also, the total costs to produce the plastic ring would be significantly less allowing the company to take advantage of a huge profit margin. Instead of trying to justify the stock on hand and how much he paid for the stock, he should avoid the sunk cost fallacy. There is not enough information in the study to compare production costs, but with the information available it seems that the plastic rings would be more profitable for the company. As for the stock that is already on hand, there is opportunity to sell them to locations where the plastic...
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...Taylor is a controversial figure in management history. His innovations in industrial engineering, particularly in time and motion studies, paid off in dramatic improvements in productivity. At the same time, he has been credited with destroying the soul of work, of dehumanizing factories, making men into automatons Mr. Taylor was born at Germantown, Philadelphia, on March 20, 1856, and was graduated from Stevens Institute of Technology in 1883. He won the doubles championship of the United States at tennis at Newport in 1881. He entered the employ of the Midvale Steel Company at Philadelphia in 1878 and was successively gang boss, assistant foreman, foreman of the machine shop, master mechanic, chief draughtsman, and chief engineer. In 1889 he began his special work of reorganizing the management of manufacturing establishments. A plant that he made over was made over from top to bottom. He laid out the system from the duties of the boy who carried drinking water to the unskilled laborers to the duties of the President, giving his solution to the problems of shop, office, accounting department and sales department, and emphasizing the necessity for the humane treatment of labor. Some of the big shops into which he introduced his theories of scientific management are the Bethlehem Steel Company, Cramp's Shipbuilding Company, and the Midvale Steel Company. He was President of the American Society of Mechanical Engineers in 1905 and 1906. He was the author of technical books...
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...Bethlehem Case Study Memo (due start of class 9/28) 1. Many U.S. corporations have offered defined-benefit (DB) pension plans. Who are all the stakeholders in this U.S. corporate defined-benefit system? 2. For what type of firms and institutions does offering a DB pension plan still make sense today? Why? 3. How should firms invest their DB pension plan assets – what would be a desirable portfolio allocation? Does your answer to this question depend on the financial health of the firm or is your investment advice sound regardless of the financial health of the firm? 4. The top of Exhibit 10 gives the pension plan portfolio of Bethlehem Steel at the end of 2000. Assess the appropriateness of this allocation from the perspective of the following groups: Bethlehem Steel lower-level workers, Bethlehem Steel shareholders, and the U.S. gov’t. 5. Should we have a Pension Benefit Guaranty Corporation (PBGC)? Do we need to provide insurance to workers receiving DB pension plans from firms? If so, do we need this insurance to be provided by the federal government or could a private insurance company do a better job? 6. At the end of 2000, what is the theoretically appropriate discount rate for Bethlehem Steel to use when discounting its future pension liabilities (forget various accounting and regulatory rules)? Justify your answer. Note: Feel free to work in groups of no more than six students. Every student must hand in his/her own answers to the case study...
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...Study Case : Daisy ONG 23 May 2014 Dear Prof Kanesan Those 3 elements can be improved concurrently by the following example of study case, base on personal experience: The owner just received a key for a newly built luxury condo. His intention is to rent the unit out for minimum 5 years investment, and plan to sell the unit off after the log-in period from the bank, escape from paying Property Gain Tax of 30% and to rip the benefit of profit margin. Upon receiving the key, he initiated a project to renovate and refurnish the condo so that it's comfort enough to rent out at the rate desire. In this case, he applies the concept of Triple Constraints. He set the timeline for 2 months to get unit complete and ready to allow the tenant move in; with the cost constraints to RM100K; work to be done (scope) comprises of place all the furniture in 3 bedroom, kitchen and living room, electrical appliances for kitchen, some home decoration in contemporary style. Unfortunately, the potential tenant requested that they require the unit within a month time as they are moving in from overseas and to stay in hotel is not in their budget plan. The owner do not wish to miss the boat, and he accepted and sealed the contract with the tenant, meaning the owner left with 1 month to accomplish the task. By applying the Triple Constraints, the owner are in the situation where time has reduced and with the skills, he needs to be agile to well balance the 3 elements as follows: Time reduces...
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