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By Nitin Pangarkar

"High functionality businesses enhances the frameworks for process making specified in lots of latest books, providing a few ideas of thumb (or ideas) that businesses can think of while making their daily judgements which, in flip, will verify their genuine suggestions. those rules traverse quite a lot of situations, akin to strategic adjustments applied through businesses, source allocation Read more...

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offers the easy-to-adopt suggestions that make businesses from Coca-Cola to Starbucks perennial over performers, featuring a few principles of thumb (or rules) that businesses can think about when Read more...

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He also looked at new international operations in a broad way— for example, whether they improved his company’s access to raw materials or not. • With every acquisition of a plant in a new country, LNM diversified the geographic base of Ispat’s operations, reducing its dependence on any one location. The high political and economic risks associated with many of the emerging markets where the company was a player were thus mitigated by an extensive portfolio of operations. • Academic research suggests that effective knowledge management is a key differentiator between sophisticated practitioners of a global strategy versus the not-so-sophisticated—or unenlightened— globalizers.

LNM decided that, in the future, Imexa wouldn’t focus on the plate mill. Rather, the realized proceeds were reinvested to upgrade the facilities. 3. Targets were set at aggressive levels. Concerns of the incumbent management about marketing were addressed by tapping into the sales and marketing network of other Mittal Steel companies. Tradeoffs between capacity utilization and costs, on the one hand, and greater sales through discounts, on the other hand, were explicitly recognized. indd 36 9/12/11 11:17:37 AM Discover Diamonds among Coals 37 Considering the extremely low capacity utilization of the plant, LNM sacrificed profit margins in the short run to get additional business.

7. The Mittal team moved quickly to instill cost consciousness and discipline. A meeting was scheduled at the end of the each business day, headed by Sittard. In the meeting, the day’s progress would be reviewed and next day’s priorities and action plans set. One key benefit of the meeting was quick resolution of issues since all the concerned people were available to discuss and debate. 8. The Mexican plant was integrated into the knowledge-sharing process which involved other Mittal plants. 41 The Mittal Steel case study provides an excellent illustration of discipline needed and subtle strategies and organization policies to be adopted for finding under-appreciated assets and also leveraging on their potential.

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