"To be a respectful world class corporation and leader in INDIAN steel business in quality, productivity, profitability and customer satisfaction" is the VISION statement of Steel Authority of India. Which has already been revised three times since 1990, to make it more clear with time for the workforce in SAIL to achieve their goal.
Mr. Sanjay Sinha(General Manager Corporate Planning) when asked about "in what all areas they use the vision statement and is your decision are influenced by the statement?". He replied that whenever SAIL has to decide on key portfolio and structure issues they follow their VISION statement but not to day business decision are influenced except for Strategic Planning decision. He also mentioned that VISION lead to strategic planning process in SAIL.
SAIL is a NAVRATNA company of India with Top-line growth and bottom-line growth of 21% and 55% respectively. Last year SAIL has gone for expansion due to increased volumes and product mix due to a variety of factors including productivity and equipment availability. With the expansion of business SAIL is focusing more on expanding its distribution network to have coverage of all districts in INDIA. The decisions regarding expansion of business is conceived by CORPORATE PLANNING, EXECUTIVE DIRECTORS, CHAIRMAN.
"SAIL has never diversified their business, rather than SAIL moved into joint venture with other companies who are in steel business" is said by Mr. Sanjay Sinha.
SAIL has a CORPORATE PLANNING department, which is involved in formulating strategies for the company. The process of formulating strategies last for 6 months which help in framing the required strategies for 5-10 years.
Major components which SAIL give stress on while formulating strategies Market Plan/Projection. This lead to where the company will be in the domestic and international business and ways to attain it.
SAIL believe that growth of the company can be done in either by MERGER and...