Tata Steel recognised as ‘Industry Leader’ under the flagship Tata Business Excellence Model assessment
Tata Steel (India) has been recognised as ‘Industry Leader’ under the Tata Business Excellence Model (TBEM) assessment for the Assessment Year 2015. The award was presented to the Company by Mr Cyrus P Mistry, Chairman, Tata Sons, during the Annual Group Leadership Conference (AGLC) held in Mumbai today on the birth anniversary of J R D Tata. Mr T V Narendran, Managing Director, Tata Steel India & South East Asia, Mr Koushik Chatterjee, Group Executive Director, Finance and Corporate, Tata Steel, Mr Anand Sen, President, TQM and Steel Business, Tata Steel and Mr Alok Krishna, Chief TQM, Tata Steel received the award on behalf of the Company.
Tata Steel re-engaged with the TBEM assessment in 2015 after a gap of 11 years. The assessment was carried out for Tata Steel India at an enterprise level, i.e. covering all business units of the Indian operations as one entity. The Company went through a rigorous assessment process that was carried out by a 14-member team drawn from various Tata Group Companies. On-site assessment was conducted over a period of 10 days at multiple locations.
Congratulating the employees on the achievement, Mr Narendran said the award was a validation of the continued dedication and focus that each employee has towards operational excellence and process improvement.
“The recognition comes with greater responsibility for us to keep innovating and raising the bar continuously on how we serve all our stakeholders.” Mr Narendran said.
About the Award
Tata Business Excellence Model (TBEM), adopted in Tata Group in 1995, is an assessment model in line with the Malcolm Baldrige Model of USA. This is used to assess the Tata Group Companies. The process is co-ordinated by Tata Business Excellence Group, Pune. TBEM Assessment intends to improve the business performance of the Group Companies. The assessment is done on multiple dimensions of business requirements such as Leadership, Strategy, Customer Focus, Measurement Analysis, Knowledge Management, Workforce Focus, Operations and Business Results. A team of TBEM assessors, constituted from different Tata Group Companies, assess in detail the above requirements and study companies’ existing systems and processes. The companies are assessed against a scorecard of 1000 and any company exceeding 650 is recommended for recognition at the Group level.
About Tata Steel
Established in 1907 as Asia's first integrated private sector steel company, Tata Steel Group is among the top global steel companies with an annual crude steel capacity of nearly 28 million tonnes per annum (MnTPA) as on June 1, 2016. It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Tata Steel Group recorded a turnover of US $17.69 billion in FY16 and has ~77000 employees (as on March 31, 2016) across five continents and is a Fortune 500 company. The Group’s vision is to be the world’s steel industry benchmark in “Value Creation” and “Corporate Citizenship” through the excellence of its people, its innovative approach and overall conduct. Underpinning this vision is a performance culture committed to aspiration targets, safety and social responsibility, continuous improvement, openness and transparency. In 2008, Tata Steel India became the first integrated steel plant in the world, outside Japan, to be awarded the Deming Application Prize 2008 for excellence in Total Quality Management. In 2012, Tata Steel became the first integrated steel company in the world, outside Japan, to win the Deming Grand Prize 2012 instituted by the Japanese Union of Scientists and Engineers.In 2013, Tata Steel was awarded CII-ITC Sustainability Prize for its exemplary efforts towards corporate sustainability practices and in 2016, it bagged the TIME India Award for 'Best-in-Class Manufacturing'.
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.
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