aim a 1

8/6/2019 Aim a 1

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By Ridhima Bhanot & Naveen Chandani

8/6/2019 Aim a 1


I NTRODUCT I ON

� Why Management faces challenges ??

� ³Accept the challenges so that you may feel the exhilaration of the victory ³

� Management paradigms should be flexible enough to faster pace with this dynamic

environment.

� Mary Gilbert says ³ I f you don't like something change it; if you can't change it, change the

way you think about it.´

� To combat this a proper process must be adopted.

� Planning

� Organizing

� Directing

� Controlling

8/6/2019 Aim a 1


COMPANY¶S STRATEGI ES

� Vision Statements

�

To set new benchmarks in standards of corporate performanceand governance through the pursuit of operational and financial excellence, responsible citizenship and profitable growth.

�

To be the preferred business entity contributing to national energy security and delivering high quality products and services with care for environment.

�

"Envisioning a larger societal purpose ('a commitment beyond the market') has always been a hallmark of I TC.

8/6/2019 Aim a 1


MAJOR CHALLENGES FACED

� Technology

� Diverse Workforce

�

Multiple Stakeholders� Responsiveness

� Rapid Changes

� Globalization

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TECHNOLOGY

� Technology... is a queer thing. I t brings you great gifts with one hand,

and it stabs you in the back with the other.

� Advances in technology have completely altered the workplace by changing the way information is created, stored, used & shared.

� I TC ±

� Entered Rural Market ± by echoupal

� Removed middlemen

� Converted local mandi into internet kiosks

� Weather forecasts , latest farming techniques became their cup of tea through

technology.

Thus TECHNOLOGY as a challenge was transformed into OPPORTUN I TY.

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RAP I D CHANGES

� We are chameleons, and our partialities and prejudices change place with an easy and blessesfacility, and we are soon wanted to the change and happy in it.

� Changes in production systems like ± AI S, C I M, AGV, ASRS

� MARUT I UDYOG -

� Converted conventional manual car assembly system

to fully automated assembly line.

� Buyers are showing interest in µSupplier Relationship

Management¶

� Sellers interested in µSupply Chain Partnering¶

� Maruti therefore adopted J I T strategy.

As a result Maruti now is No. 1 Car Manufacturer in I ndia.. Again CHALLENGE transformed into OPPORTUN I TY.

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GLOBALIZ AT I ON

� I ndia has been able to get business because of

the fact that its globalizing

� HYUNDAI ±

� Exporting Hyundai Santro to European

countries and earning business from there.

� Managing proper plan

� Lead & Control Effectively

� Manage cultural differences

Finally became successful GLOBAL organization by taking a challenge as opportunity.

8/6/2019 Aim a 1


aim a 1

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