Tata Steel Conferred MAKE ASIA 2004 Award Again
Tata Steel has been conferred the Asian Most Admired Knowledge Enterprise (MAKE), 2004 Award for the second consecutive year. This award was handed over to Tata Steel, the only Indian manufacturing company, on October 13, 2004, at Seoul. This award was given to the Company for its relentless effort and contribution towards Knowledge Management.
The official publication from the Asian MAKE Award organisers states, the 2004 Asian Most Admired Knowledge Enterprises (MAKE) Winners were recognised before 1,000 business executives during a special Awards Ceremony at the 5th World Knowledge Forum in Seoul, Korea.
At Tata Steel Knowledge Management (KM) is regarded as an essential element of its competitive advantage. Tata Steel introduced KM to shift the basis of growth from natural resources and assets to intellectual capital, which has become the source of innovation, growth and value in modern competitive scenario. Tata Steel has developed an index called the “KM Index”, to measure the performance of the system.A panel of Asian Fortune 500 senior executives and internationally recognized knowledge management experts selected the 2004 Asian MAKE Winners. The panel rated organisations against a framework of eight key knowledge performance dimensions which are the visible drivers of competitive advantage. The 2004 Asian MAKE Winners have been recognized as leaders in creating a knowledge-driven corporate culture, developing knowledge leaders and knowledge workers, innovation, maximizing corporate intellectual capital, collaboration and knowledge sharing, organizational learning, managing customer knowledge and transforming corporate knowledge into shareholder value.
This year's Asian MAKE Winners are delivering superior financial performance by achieving Return on Profits of 11% over three times the Fortune 500 median and Return on Assets of 9.2% - nearly five times the Fortune 500 median.