The link to my youtube video that I prepared on POM course is given below:
http://www.youtube.com/watch?v=d264zSNo-j4
http://www.youtube.com/watch?v=d264zSNo-j4
Friday, 31 August 2012
Tuesday, 31 July 2012
L &T
Larsen and Toubro
Introduction:
Larsen & Toubro Limited or L&T, is an Indian multinational conglomerate corporation headquartered in Mumbai, Maharashtra, India. The company has business interests in technology, engineering, construction and manufacturing goods. It operates in three segments Engineering & Construction Segment, Electrical & Electronics segment, Machinery & Industrial Products, and others.
L&T is India's largest engineering and construction company, with a dominant presence in India's infrastructure, power, hydrocarbon, machinery and railway related projects. In recent years, L&T has expanded its global presence and international projects contributed 9% of its overall order book for the 2010–11 period.
Considered to be the "bellwether of India's capital goods sector", L&T was recognized as the Company of the Year in 2010. L&T has featured four times in Forbes Fab 50 list of the best public companies in the Asia-Pacific region.The company ranked #14 in the 2011 Fortune India 500 list of the largest Indian companies by total revenues.
Vision:
The L&T vision reflects the collective goal of the company. It was drafted through a large scale interactive process which engaged employees at every level, worldwide.
Key People:
Chairman - Anil Manibhai Naik
CEO & MD: K. Venkataramanan
History:
The evolution of L&T into the country's largest engineering and construction organization is among the most remarkable success stories in Indian industry.The evolution of L&T into the country's largest engineering and construction organization is among the most remarkable success stories in Indian industry.
L&T was founded in Bombay (Mumbai) in 1938 by two Danish engineers, Henning Holck-Larsen and Soren Kristian Toubro. Both of them were strongly committed to developing India's engineering capabilities to meet the demands of industry.
Henning Holck-Larsen
(4.7.1907 - 27.7.2003)
Soren Kristian Toubro
(27.02.1906 - 4.3.1982)
Beginning with the import of machinery from Europe, L&T rapidly took on engineering and construction assignments of increasing sophistication. Today, the company sets global engineering benchmarks in terms of scale and complexity.
EARLY DAYS
Henning Holck-Larsen and Soren Kristian Toubro, school-mates in Denmark, would not have dreamt, as they were learning about India in history classes that they would, one day, create history in that land.
In 1938, the two friends decided to forgo the comforts of working in Europe, and started their own operation in India. All they had was a dream. And the courage to dare.
Their first office in Mumbai (Bombay) was so small that only one of the partners could use the office at a time!
In the early years, they represented Danish manufacturers of dairy equipment for a modest retainer. But with the start of the Second World War in 1939, imports were restricted, compelling them to start a small work-shop to undertake jobs and provide service facilities.
Germany's invasion of Denmark in 1940 stopped supplies of Danish products. This crisis forced the partners to stand on their own feet and innovate. They started manufacturing dairy equipment indigenously. These products proved to be a success, and L&T came to be recognised as a reliable fabricator with high standards.
The war-time need to repair and refit ships offered L&T an opportunity, and led to the formation of a new company, Hilda Ltd., to handle these operations. L&T also started two repair and fabrication shops - the Company had begun to expand.
Again, the sudden internment of German engineers (because of the War) who were to put up a soda ash plant for the Tatas, gave L&T a chance to enter the field of installation - an area where their capability became well respected.
THE JOURNEY
In 1944, ECC was incorporated. Around then, L&T decided to build a portfolio of foreign collaborations. By 1945, the Company represented British manufacturers of equipment used to manufacture products such as hydrogenated oils, biscuits, soaps and glass.
In 1945, L&T signed an agreement with Caterpillar Tractor Company, USA, for marketing earthmoving equipment. At the end of the war, large numbers of war-surplus Caterpillar equipment were available at attractive prices, but the finances required were beyond the capacity of the partners. This prompted them to raise additional equity capital, and on 7th February 1946, Larsen & Toubro Private Limited was born.
Independence and the subsequent demand for technology and expertise offered L&T the opportunity to consolidate and expand. Offices were set up in Kolkata (Calcutta), Chennai (Madras) and New Delhi. In 1948, fifty-five acres of undeveloped marsh and jungle was acquired in Powai. Today, Powai stands as a tribute to the vision of the men who transformed this uninhabitable swamp into a manufacturing landmark.
PUBLIC LIMITED COMPANY
In December 1950, L&T became a Public Company with a paid-up capital of Rs.2 million. The sales turnover in that year was Rs.10.9 million.
Prestigious orders executed by the Company during this period included the Amul Dairy at Anand and Blast Furnaces at Rourkela Steel Plant. With the successful completion of these jobs, L&T emerged as the largest erection contractor in the country.
In 1956, a major part of the company's Bombay office moved to ICI House in Ballard Estate. A decade later this imposing grey-stone building was purchased by L&T, and renamed as L&T House - its Corporate Office.
The sixties saw a significant change at L&T - S. K. Toubro retired from active management in 1962.
The sixties were also a decade of rapid growth for the company, and witnessed the formation of many new ventures: UTMAL (set up in 1960), Audco India Limited ( 1961), Eutectic Welding Alloys (1962) and TENGL (1963).
EXPANDING HORIZONS
By 1964, L&T had widened its capabilities to include some of the best technologies in the world. In the decade that followed, the company grew rapidly, and by 1973 had become one of the Top-25 Indian companies.
In 1976, Holck-Larsen was awarded the Magsaysay Award for International Understanding in recognition of his contribution to India's industrial development. He retired as Chairman in 1978.
In the decades that followed, the company grew into an engineering major under the guidance of leaders like N. M. Desai, S.R. Subramaniam, U. V. Rao, S. D. Kulkarni and A. M. Naik.
Today, L&T is one of India's biggest and best known industrial organisations with a reputation for technological excellence, high quality of products and services, and strong customer orientation. It is also taking steps to grow its international presence.
For an institution that has grown to legendary proportions, there cannot and must not be an 'end'. Unlike other stories, the L&T saga continues.....
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Indian Network:
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Global Presence:
L&T has a global presence. A thrust on international business over the years has seen overseas revenues growing steadily.
The company has manufacturing facilities in India, China, Oman and Saudi Arabia.
Customers include global majors in over 30 countries.
Organisational Structure:
BOARD OF DIRECTORS
"The company that we run has a strong heritage of professionalism that places the highest value on merit and integrity. In the 70th year of the existence of L&T, all the directors on our board are conscious of our responsibility in transforming the organisation to make it truly world class, to ensure its continued long term success and growth."
- A. M. Naik, Chairman & Managing Director
| NON-EXECUTIVE DIRECTORS |
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SUBSIDIARIES & ASSOCIATES
L&T group has a number of subsidiaries & associates carrying out its business all over the world.
Subsidiary Companies: | |||
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Associate Companies | |||
AWARDS & RECOGNITIONS:
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Sunday, 22 July 2012
The Three Monks
Three Monks
The three monks video was shown to us to illustrate the significance of team work. The video emphasizes the importance of team work and it also shows how sometimes a team is of no use when team member do not recognise their responsibilities.
The video starts with one monk. He finds that there is no water in the house. So he goes out to take water taking a stick and two buckets. He brought two buckets of water in one go and he was quite relaxed with it as he knew he is the only one in the house and it's his responsibility to bring the water. This process went on as long as he was alone in the home.
Now the second monk entered the home. Now the problem arose as who will go to bring water. They found a solution that they will bring water together. But as they went out to bring water there was a conflict between them on division of work as each of them was trying to push the bucket on the other side to reduce the load on him. This is the biggest problem when people work in team as how to divide the work. Therefore before forming a team one must learn how to work in a team. One must be made aware of his responsibilities. One should also recognise his or her strengths and then work should be divided accordingly. In this case several solutions were proposed by the students for dividing the work. Some of them are:
1. To go alternately and individually and bring two buckets of water in one go.
2. To go together and carry one bucket of water in one go.
Now the best solution that illustrate "equal division of work" at its best was to go and bring water together.
This has manifold advantages which are as follows:
1. They learnt how to work in a team.
2. They learnt equal division of work while working in a team
3. They recognised their responsibilities.
4. The effort introduced is less. One will not tire as they will bring water together rather than doing it alone. So there will be work satisfaction and at the same time they will know the significance of working in a team.
Now they decided to measure the length of the road to share the work equally. Again the problem arose as they did it by their palms and the palm length of one monk was greater than the other.
Here scientific principles came into picture. The work can not be divided arbitrarily by using any method. There must a be a standard and a scientific approach which can be used to divide it satisfactorily.
Now they measured the road with a stick and in this way they reached the mid point of stick which was the point where bucket will be kept. This was agreed by both of them.
Now enters the third monk.
He came and drank all the water. He was supposed to go out and bring the water but he didn't do that. Now again tension arose between them as who will go and fetch the water.
Here comes into picture the lack of team work in them. They didn't know how to work as team. As a result no one went to fetch water for the whole day and they were seen fighting for water.
Now the turning point........
Fire broke out in the home and to blow off the fire,suddenly all started running to fetch water. They brought water irrespective of any thought,who is going how many times and they were able to blow off the water.
Now they recognised that if they will work in a team,no problem will arise and each task can be made easy if they are together.
Fire broke out in the home and to blow off the fire,suddenly all started running to fetch water. They brought water irrespective of any thought,who is going how many times and they were able to blow off the water.
Now they recognised that if they will work in a team,no problem will arise and each task can be made easy if they are together.
Now they all came together and came out with an innovative idea to bring water at the top of mountain from the river below. They set up a pulley arrangement on which a rope was laid and bucket was attached at one end of it.
One of the monk was at below to fill the bucket with water. Second was pulling the rope to take the bucket up and the third was putting the water into the home. They the whole work became much more easy. The effort introduced was very less and every one was satisfied with his work.
The whole work was equally divided in this case. If any of them does not work, the task can not be performed and here in this method is lied the whole significance of team work.
This method helped them to achieve:
1. Better management
2. Increased productivity
3. Interdependence
4. Better communication
5. Team work
This is what the modern management is where everything is well defined and well organised. This has lead to increased satisfaction among the people and a higher productivity.
Tuesday, 10 July 2012
Learning from valley crossing exercise
Valley crossing exercise
Meaning behind this:
Three
people have to cross a valley which is more than one step of the member and less
than two steps. They have a long rod with sufficient length. They attempt to
cross the gap with everyone holding on to the rod. As soon as someone is on the
gap, he would hang from the rod and the other two members would take his weight.
This way they can cross the gap. Also it must be noted that load distribution
was effectively managed. Also, the role of one will depend on the role of
another. Interdependence
is crucial and should be maximum.
In this exercise role of each member is equal as each one have to take the load as many times as others do. The risk involved is also equal. All we need to complete this exercise is "trust" and at the same time better level of understanding. Confidence also plays a important role without which we can not complete this exercise. It shows us the significance of team work at its best.
The images shown describes the significance of team work and mutual trust in a best possible way.
Management lessons:
1. Efficiecy:
When we work in a team, each one has something different in mind and we have a lot of views. We can sum up those views to reach at the best possible common solution. It reduces the time taken to solve the problem and at the same time increases the efficiency of the whole work.
When the task given is complex and too lenghthy, the possible way to achieve efficiency is team work. We should never forget “We are each other's harvest; we are each other's business; we are each other's magnitude and bond.”
2. Productivity:
In team work we achieve better efficiency and that leads to better productivity. Productivity is always increased as more number of people do the work for more number of manhours.
3. Team work
It creates a sense of team work as every one has common goal.The responsebility of every member is same and every one has same amount of risk involved. In this exercise, most important is to determine the size of team. Two members can not do this activity and if we take more than three, then that too will lead to useless additional member. If there are more than three members then one may think that,even if I dont take the load,it will get done. If two members think this at the same time, the exercise would not be completed and the life of all members would be in danger. So it is also important to determine the size of team so that responsebilities are equally divided.
4. Communication:
When
working in a team, better communication is must. If a team can't
communicate well - it can't perform the work as desired. The people working in a team may be from different culture,religion,country etc. Only through better communication, they will know each other and they can work efficiently as a team.
5. Support and encouragement:
In a team we learn to support each other which is very much important. At the same time encouragement is very much required which inculcates a sense of doing our work in a much better way.
6. Leadership
In a team there is always one leader. It should lead the team in the most efficient way. A team leader must be self motivating and that who always motivates and encourages his team to do better. A team leader must be supporting and that who maintain good communication with each member of team.
7. Decision making
Decision making is an art. The person who has better level of understanding, can take good decisions. He should have ability to analyse a situation as quick as possible and take the decision quickly that results in overall efficiency and better work.
8. Innovation
Innovative ideas are required for getting best out of given resources.Traditional methods should not be implemented. Instead if we think new ideas,they will increase the efficiency of work and will make it more easy.
Conclusion:
Thursday, 5 July 2012
Khan Academy
MANAGEMENT LESSONS FROM KHAN ACADEMY
REINVENTING EDUCATION
Khan academy is a non-profit organisation which aims at delivering education by some attractive videos. It was created by salman khan (of course not the bollywood actor), a bangladeshi american educator in 2006. He is MIT and HARWARD BUSINESS SCHOOL graduate. The mission of khan academy is "providing a high quality
education to anyone, anywhere".
salman khan
Business structure
It is a non profit organisation funded by Bill and Melinda Gates,Google and the O'Sullivan Foundation and some other donors. The website they run is a free online
collection of more than 3,200 micro lectures via video tutorials stored on Youtube teaching all the subjects which are there in our education system.
The team comprises 28 people and a dog named TOBY. He is director of wellness in their team.
Toby
Director of wellness
What is special about khan academy
Khan academy is very different from other education sites. This is modern innovative style of education which is very interesting and there is a lots of fun too.They used videos to reinvent education.
Khan chose to avoid the standard format of a person
standing by a whiteboard. He used some interesting videos so that students can watch them at home as many times as they can and so can develop their basics.While
the current content is mainly concerned with pre-college mathematics and
physics, Khan's long-term goal is to provide "tens of thousands of videos
in pretty much every subject" and to create "the world's first free,
world-class virtual school where anyone can learn anything."
Videos are made so that some of the toughest concepts in our study seems easy and interesting and at the same time easily understandable. For example have a look at this video which is about "mole concept"
http://www.youtube.com/watch?v=AsqEkF7hcII
Vision:
The vision is to turn the academy into a online school which is very unique in itself. He has succeeded in it as every day thousands of students watch thousands of videos on different topics.
Mission:
The mission is provide free education to everyone,anywhere in the world.
Concept:
The concept behind the khan academy is the biggest USP of this. He made learning easy, the way things are demonstrated in these videos are far different that the traditional practices. This is the concept which is most liked by the students and as a result the viewership is increasing day by day.
Inference:
What I infer from this is that khan academy is the most innovative concept that is introduced in the field of education by salman khan.He applied his innovation and creative thinking into something that attracted a lot of people and increased its popularity day by day.It has changed the whole idea of education system.The organisation is on the path of continuous success.
Lets join ourselves with such a great effort made in the field of education so that it reaches to all.
Wednesday, 4 July 2012
Lecture 01
Insight into the “Principles of Management”, Our 1st Session at NITIE:
I would like to share what I learned from the first class on Principles of Organisation & Management held in NITIE, Mumbai .The class was taken by Prof. T Prasad Sir. From the very beginning of the class, he emphasized more on the development of entrepreneurship skills in youth of our country. In our journey from primary education to secondary and then the college, we are very well aware about the basic and inherent concepts of science,maths,economics,geography,engineering etc. What we need now is the,creative thinking that we can use to synchronize these all subjects to make or create something innovative. We should always we creative in everything we do,the approach which we use to solve the problems. Our vision should be clear. We should not always adopt the traditional practice to solve any problem, instead we should analyse it on our own and then try to solve it in our own creative way. Creativity and innovation comes when we look at the things from a different perspective.
Innovation does not necessarily mean to invent new things but it is there also in when we succeed to implement our creativity in the existing.
Thank You.
Naresh Kumar Solanki
PGDIM-19
Roll No - 94
I would like to share what I learned from the first class on Principles of Organisation & Management held in NITIE, Mumbai .The class was taken by Prof. T Prasad Sir. From the very beginning of the class, he emphasized more on the development of entrepreneurship skills in youth of our country. In our journey from primary education to secondary and then the college, we are very well aware about the basic and inherent concepts of science,maths,economics,geography,engineering etc. What we need now is the,creative thinking that we can use to synchronize these all subjects to make or create something innovative. We should always we creative in everything we do,the approach which we use to solve the problems. Our vision should be clear. We should not always adopt the traditional practice to solve any problem, instead we should analyse it on our own and then try to solve it in our own creative way. Creativity and innovation comes when we look at the things from a different perspective.
Innovation does not necessarily mean to invent new things but it is there also in when we succeed to implement our creativity in the existing.
THE INITIATIVE
Even when we succeed in developing something new,there is always a apprehension wether it would be liked by the mass or not. The first thing we should do is to make our invention so attractive so that people like it and they are ready to promote it.There is very mush risk involved with investing in new venture. So very few people will come up to invest in it and promote it. What we should do is to make them aware with our invention and tell them how useful it will prove to the mass,its potential and the benefits that it has over the existing things. Then only people would invest in our venture.
Planning
First of all, there should be an effective plan in place.It should be clear what are our target customers.We should make a good team in which everyone is aware with their role. After the team is ready, the mission and vision have to be very clear in everybody's mind. Roles need to be defined and responsibilities are given accordingly.Other requirements like logistics,inventory,raw materials need to be arranged as per requirement.
The mantra for this campaign is "Aaj ki roti , aaj hi kamana" and "Socho- becho, becho-seekho, seekho-socho" . What I inferred is that we should always try to make ourselves dependent and self contained. First of all, there should be an effective plan in place.It should be clear what are our target customers.We should make a good team in which everyone is aware with their role. After the team is ready, the mission and vision have to be very clear in everybody's mind. Roles need to be defined and responsibilities are given accordingly.Other requirements like logistics,inventory,raw materials need to be arranged as per requirement.
Activity demonstration in the class and correlation with the real world objects
A task was given in the class in which we were asked
to build a tower out of a given no of cubes. The challenge was to build the
highest tower. We were asked about the height of tower which we could build, in
terms of number of cubes. We all came up with certain no of cubes mostly in the
range 20-25. It require a lot of thinking as how high we could we can reach.
Here in this activity vision comes into picture. We all need to estimate the
height of tower considering its feasibility. Its like a bidding process which
we do while investing in any organisation. While doing this activity we
realized that if our vision is clear it is not impossible to achieve a height
of more than 25 cubes
Thank You.
Naresh Kumar Solanki
PGDIM-19
Roll No - 94
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