Tata Steel has been ranked among the world?s top ten of the ?most admired companies? rated by Fortune Magazine and the Hay group particularly in the area of employee relationship.
The award has been bestowed to the company in the metal industry category and puts Tata Steel in the same company as Apple, GE,Singapore Airlines, Alcoa, Thyssen Krupp etc. The rankings were based on many factors, including innovation, people management, use of corporate assets, financial soundness, long-term investment and global competitiveness.
While receiving the trophy, Tata Steel managing director H M Nerurkar said, ?Tata Steel has always considered its employees as its most valuable asset; we are happy that this has been recognized by our peers and analysts in the global ranking of ?most admired companies?; this is a good recognition to our own HR and IR practices over a period of time and has more to do with the pride and passion which our employee have for the company?.
Nerurkar also said that there were plenty of challenges for the company as it is expanding production at home from around 7 million tonne to 10 mt per annum; also the issue of integration between the Indian unit/s and those in the South East Asian countries with the rest of the world was another challenge ahead.
?How we educate and train our people for the new challenges ahead is important for us and this particular award would give us a fillip inour efforts to ensure that we accept those challenges,? said Nerurkar.
… observes P N Bose?s 155th birth anniversary
Tata Steel today paid rich tributes on the occasion of the 155th birth anniversary of its founding geologist Pramatha Nath Bose. It was Bose who had brought to the notice of Tata Steel?s founder Jamsetji Nusserwanji Tata in 1904 while camping at Mayurbhanj (now a part of Jharkhand) the presence of ?an exceedingly rich and extensive deposit of iron ore? which was available in the then state of Mayurbhanj which could be the ideal location for the steel plant Tata was planning. Tata was inclined towards locating the steel plant around the Nagpur region, which too had iron ore deposits. It was Bose?s 1904 letter that finally resulted in J N Tata deciding in favour of Mayurbhanj instead of the Nagpur belt. Bose was then serving as a state geologist to the Maharaja of Mayurbhanj, having stepped down from the Geological Survey of India (GSI) for having been bypassed for the topmost post in the organization. Bose had also mapped the Chhatisgarh and Bailadila regions from 1898 to 1900, which too have become important areas of economic activity today, thus ensuring that Mayurbhanj became the birthplace of Indian heavy industry. Speaking on the occasion here on Wednesday, Tata Steel managing director H M Nerurkar said Bose who was forgotten even by the company for many years until his greatness was ?rediscovered? around 2000-01, had been the main reason behind Tata Steel?s location here, together with its raw material resources.
?One of Tata Steel?s main strengths, apart from its employees, is our raw material division; and I can say that without the raw material resources it would have been extremely difficult for the company to come to this stage,” said Nerurkar.
