Benchmarking Tata steel as a world class company: Tata Steel

Abstract

The Project begins with analysis of views of the world business leaders, different rating agencies primarily the ones the steel industry like to focus upon, strategy reports/annual reports, directors reports, sustainability reports like DGSi and the GRI indicators. The Key word analysis gives a candidate list of parameters which when analysed on the inertial scale and weightage score analysis for the rankings b y using a bias eliminator model and other views, gives you a final set of parameters which gets validated by analytical tools like regression analysis, factor analysis etc.The benchmark countries for these identified parameters were mapped for global, manufacturing and steel industries independently and a relevant set of success factors which are the salient features of the benchmarks are selected. The Critical Success Factors are identified on two lines- 1) firstly a candidate list of CSFs which are based on the relevant factors have been identified from Global Steel 2013 Ernst and Young Report, BCG Report on flexibility and Innovation and the US CEO survey 2013 which talks about the current and future challenges of the world 2) Organization level CSFs are identified by creating a VISION/MISSION-OBJECTIVE-CSF framework by using the candidate list of CSFs identified. The priority settings of the vision goals and the CSFs are done vy using the AHP analytical tool to ensure which CSFs are most relevant to the company in the coming years. The KPIs relevant to the identified CSFs are selected by analyzing the sustainability reports of global leaders in steel-making. This would help in identification of new KPIs and inclusion of more sustainability KPIs in the Business objectives and strategies of the company