Principles of management Project on L&TSubmitted to Priyank Acharya By:-

Vishant Chandni Hemangini Pooja Bhavika

IntroductionLarsen & Toubro Limited (L&T) is a technology, engineering, construction and manufacturing company. It is one of the largest and most respected companies in India's private sector.

More than seven decades of a strong, customer-focused approach and the continuous quest for world-class quality have enabled it to attain and sustain leadership in all its major lines of business.

L&T believes that progress must be achieved in harmony with the environment. A commitment to community welfare and environmental protection are an integral part of the corporate vision.

L&T has an international presence, with a global spread of offices. A thrust on international business has seen overseas earnings grow significantly. It continues to grow its global footprint, with offices and manufacturing facilities in multiple countries. The company's businesses are supported by a wide marketing and distribution network, and have established a reputation for strong customer support.

In response to changing market dynamics, L&T has gone through a phased process of redefining its organisation model to facilitate growth through greater levels of empowerment. The new structure is built around multiple businesses that serve the needs of different industries.  

HydrocarbonHeavy EngineeringL&T ConstructionPowerElectrical & AutomationMachinery & Industrial Products

Information TechnologyFinancial ServicesShipbuildingRailway Projects

These are the major subsidiaries of L&T Limited.

P.O.L.C.Planning:- A plan is forecast for accomplishment. It is a predetermined course of action. It is essentially a process to determine and implement actions to achieve organizational objectives. A plan is nothing but a blueprint for goal achievement.

Organizing:- The process of prescribing formal relationships among people and resources to achieve goals.

Leading:- The process of influencing others towards the accomplishment of goals. It is the ability of a manager to induce subordinates to work with zeal and confidence. The activity of influencing people to strive willingly for group objectives.

Controlling:- It is the process of comparing actual performance with standards and taking necessary corrective action.

P.O.L.C. of L&T

Planning:-Establish a global standards forum for bench marking global projects.Create a repository of project management cases for the benefit of future learning.Create a core group focused on project management research.Create an innovation hub in project managementEstablish L&T BOK in project management.

Organization Structure

About CSR

L&T is committed to achieving its business goals solelythrough means that are, and are seen to be, ethical,transparent and with total accountability. This in aninflexible principle that has historically shaped the characterof L&T. Ethics, transparency and accountability as well as anumber of allied attributes are part of the codified visionstatement of the Company, and its policies on CorporateSocial Responsibility (CSR), Corporate Human Resourceand Corporate Environment, Health and Safety (EHS).These policies and practices extend to and encompass theoperations of subsidiary and associate companies. Soundsystems and policies are in place (e.g. Whistle BlowerPolicy) to promote the Company’s principles of ethics andfair practices across all the group companies.

The format adopted by L&T for its Annual BusinessResponsibility Report (BRR) conforms to the requirementsof Securities & Exchange Board of India (SEBI) listingrequirement. It covers the National Voluntary Guidelines(NVG) based on Social, Environmental & EconomicResponsibilities of Business released by the Ministry ofCorporate Affairs, India.Since 2008, the Company has been publishing aSustainability Report every year, prepared as per theGlobal Reporting Initiative (GRI) G3 guidelines. TheSustainability Reports are externally assured and ‘GRIChecked Application Level A+’, signifying the highest levelof disclosure in public domain. The report can be accessedat www.lntsustainability.com.The Company is the first engineering & constructionorganisation in India to report on its CorporateSustainability performance, and among the earliest tostate its conformance with the eight missions of NationalAction Plan on Climate Change (NAPCC), India.

The Costs and Benefits of Organizational Controls Key Costs

Financial costs Culture and reputation costsResponsiveness costs Poorly implemented controls Key BenefitsCost and productivity control Quality control Opportunity recognition Manage uncertainty and complexity Decentralized decision making

Controlling

Leading:- In L&T they leadership team

A. M. NaikGroup Executive Chairman

K. VenkataramananCEO & Managing Director

M. V. KotwalPresident(Heavy Engineering)

S. N. SubrahmanyanSr. Executive Vice President(Construction & Infrastructure)

R. Shankar RamanChief Financial Officer

Shailendra RoySr. Executive Vice President(Power, Minerals & Metals)

S. C. BhargavaSr. Vice President

(Electrical & Automation)

Globally Expansion of L&T

Global Expansion

L&T has widely expanded in various sectors across world-wide.Major are:-oEngineering & construction ProjectsoProduct & equipment supplyoManufacturing/Fabrication facilitiesoAgentsoOffices

Growth Strategy

Growth Strategy

The Millennium Development Goals (MDGs) incorporate global time-bound targets. These goals address poverty in its multiple dimensions encompassing income, hunger, disease, gender inequality, education and environmental sustainability. They also incorporate basic human rights like access to health, education and security. L&T undertakes a host of initiatives in alignment with the MDGs.

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