Tata Steel receives the coveted JRDQV award and ‘Benchmark Leader’ recognition under the flagship Tata Business Excellence Model (TBEM) Assessment
~ The recognition reinforces the Company’s commitment towards business excellence ~
Tata Steel has received the coveted JRDQV award at an enterprise level and was also recognised as the ‘Benchmark Leader’ under the Tata Business Excellence Model (TBEM) Assessment for the Assessment Year 2021. The JRDQV Award 2022 function was held in Mumbai on July 29, 2022 - the 118th Birth Anniversary of Bharat Ratna Jehangir Ratanji Dadabhoy (JRD) Tata. N. Chandrasekaran, Chairman, Tata Group, presented the award to T. V. Narendran, CEO & MD, Tata Steel.
On the occasion, T. V. Narendran, CEO & MD, Tata Steel, congratulated the entire Tata Steel family including Senior Leadership team, Union Members, and employees who exhibited a relentless pursuit of excellence over the years and remarked how the organisation wide efforts have helped the Company reach the level of ‘Benchmark Leader’ making this yet another milestone.
The assessment was carried out for Tata Steel in India at an enterprise level, covering all business units of the India operation as one entity. The Company went through a rigorous assessment carried out by a 24-member team comprising members from various Tata Group companies and mentored by Harish Bhat, Brand Custodian Tata Sons.
The steel business unit of Tata Steel is credited with the prestigious honour of being the first recipient in the Tata Group to be recognised with the JRDQV award in the year 2000. Later, the Tubes division, Wires division, and the Ferro Alloys and Minerals Division (FAMD) had also reached this milestone.
About the Award
Tata Business Excellence Model (TBEM), adopted in Tata Group in 1995, is an assessment model in line with Malcolm Baldrige Model of USA. This is used to assess the Tata Group Companies. The process is managed by Tata Business Excellence Group. TBEM Assessment intends to improve the business performance of the Group Companies. Assessment is done on multiple dimensions of business requirements such as Leadership, Strategy, Customers, Measurement Analysis and Knowledge Management, Workforce, Operations, Safety and Business Results. A team of TBEM assessors constituting members from different Tata Group Companies assess in detail the above requirements and study the company’s existing systems and processes. The companies are assessed against a score of 1000 and organisations exceeding 650 are recommended for JRDQV award.
About Tata Steel
Tata Steel group is among the top global steel companies with an annual crude steel capacity of 34 million tonnes per annum. It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world. The group recorded a consolidated turnover of US $ 32.83 billion in the financial year ending March 31, 2022.
A Great Place to Work-CertifiedTM organisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 65,000. Tata Steel has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016. Besides being a member of ResponsibleSteelTM, worldsteel’s Climate Action Programme and World Economic Forum’s Global Parity Alliance, Tata Steel has won several awards and recognitions including the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants, and Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17. The Company, ranked as India’s most valuable Metals & Mining brand by Brand Finance, featured amongst CII Top 25 innovative Indian Companies in 2021 and top 10 sustainable organisations of India Hurun Research Institute in the 2021 Capri Global Capital Hurun India Impact 50, received Steel Sustainability Champion recognition from worldsteel for five years in a row, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, RIMS India ERM Award of Distinction 2021, Masters of Risk - Metals & Mining Sector recognition at The India Risk Management Awards for the sixth consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.
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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