On July 1, 2003
during his web-cast and Videoconference-
MD-Online - with the employees of the company, the Managing Director, Mr B Muthuraman,
expressed satisfaction with the company's production and sales figures saying they were ,
"more or less on target." The company should be able to meet its profit target
for the first quarter of the financial year 2003-04. However, he voiced a note of caution,
"we need to control inventory and working capital management has to improve."The order from the Malaysian car manufacturer PROTON is a mile stone
for the company, he said and emphasized that the order must be executed well. "We get
awards but awards from customers are the best," he reiterated. Hyundai, Chennai has
conferred its Best Localisation Award on Tata Steel, while Ford India, Chennai has made
Tata Steel its 100% internal component supplier. "With the company's product mix now
its biggest strength, it will ensure better margins and more profits," he confirmed.
Mr Muthuraman urged the company's employees to develop a
mindset of growth. "Too much time is spent on internal complexities. Thank of the
future and develop. This has to happen on a Planned basis. Also, our cross functional
thinking is not satisfactory and needs to improve," Mr Muthuraman said.
He believes that improvements such as ASPIRE, Lakshya - ek
chunauti and TBEM will help bridge the difference between being a good steel company to a
world-class one. "Tata Steel share value has improved," he revealed. "Share
price is the responsibility of the company. As we grow we need to look more on the outside
interface," Mr Muthuraman urged.
Every month the Managing Director reaches out to
the employees of the company through a webcast on the company's intranet and through video
conferencing. This is extremely popular and gives every employee an opportunity to share
his or her concerns with the MD and receive the answer. Most of these interactions are in
hindi. |