Vision 2007 statement of
Tata Steel has sustainability elements built
into it. The vision statement is depicted on
the inside of the front cover page. This is
further clarified in the various Policies of
the company.
The stakeholder
engagement process deployed by Tata Steel
identifies various issues related to
sustainable performance of the company.
Elements of the stakeholder engagement
process are described in detail in
Section-III on Page 25.
Table
1.1 : Key Enterprise
Process & Owners
S.N.
Enterprise Processes
Process Owner
1
Leadership
MD
2
Strategic Planning &
Risk Management
MD
3
Market Development
DMD (S)
4
Investment Management
VP (F)
5
Human Resources
VP
(HRM)
6
Improvement & Change
Management
MD
7
Order Generation
DMD (S)
8
Operation and
Fulfillment
DMD (S)
9
Inbound Supply
Management
Chief (P)
10
Research & Development
Chief (R&D)
11
Information Management
CIO
12
Social Responsibility &
Corporate Services
DMD (CS)
To achieve
the sustainability performance,
the organization has identified
twelve (12) key enterprise
processes critical to the growth
and success of the organization.
A member of the senior
management team manages each
enterprise process. Key
enterprise processes and
respective process owners are
given in Table-1.1. The
process owner and the owners of
various sub-processes under a
particular key enterprise
process have mapped the
stakeholders and identified the
stakeholder concerns through a
structured engagement and
feedback process. These
stakeholder concerns are
analyzed, prioritized and form
inputs to the strategic goals
under that particular process as
part of Corporate Sustainability
Management.
Issues
related to various stakeholders
and its integration in the
companys business process is
given in Table-1.2.
Actions on various issues are
deployed through Strategic
Objectives and tracked through
various Key Performance
Indicators.
Table 1.2 :
Stakeholders Issues and
Strategic Objectives
Stakeholders
Issues
Strategic Objectives
Shareholder
Corporate Governance
Sweating of
assets
Economies of
scale
Innovation as a
substitute for
investment
Forward &
backward integration
WTO impacts and
exchange rate impacts
Outsourcing
Upholding the spirit of
Tatas & listing
agreements
EVA Positive Core
Business
Revitalize core business
for sustainable future
Continue to be the
lowest cost producer of
steel.
Outsource strategically
Divest, merge, acquire
Venture into new
business
Customers
Increasing service level
expectations
Commodity nature of
steel
Ethical standards in
business
Value creating
partnership with
customers
Move from commodities to
brands
Uphold the spirit of
Tatas
Employees
Attracting and retaining
talent
Employee satisfaction &
commitment
Right sizing and
employee cost
World class developing
environment
Ethical standards in
business
Enthused & happy
employees
Unleash peoples
potential and create
leaders
Encourage innovation and
allow freedom to fail
Manage knowledge
Uphold the spirit of
Tatas
Suppliers
Increasing expectations
Outsourcing
Ethical standards
WTO issues
Value creating
partnership with
suppliers
Strategic outsourcing
Uphold the spirit of
Tatas
Continue to be the
lowest cost producer of
steel
