1. EXECUTIVE SUMMARY
The human instrumentally that works in the industrial organization is growing increasingly attentions throughout the working workers has been lifted from that of the organization.
Workers are no longer to be treated as having commodity value only but is essential a partner in the organization who is entitled to dignity and fair treatment. It has been realized that industrial peace and harmony is of almost importance for the economic development and it not be possible till the worker does not have sense of attachment and commitment with the organization.
Indian industries also face different challenge due to new market economy. To survive in this highly competitive scenario, management is pressured to improve quality, cut down waste and eliminate inefficiency and this is only possible by the joint efforts of both employee and employer, and for this participative management is very useful.
Austin is one of the leading company which are producing different types of ball-bearings. This company is providing good facilities for the employees. They are providing various types of the promotion for the employees . Proper rewarded is given by company according to the performance of employees .
This company is arranging regular meeting and providing solution to the problem of employees . It is giving familier environment and job satisfaction and co-operate between employees .They are using participative style of taking decision it creates mutual understanding between employees .
2.1 INDUSTRY OVERVIEW
1. Current Status of the Company
They make sure that other industries run smoothly but their own is going has not been too smooth. This is the fate of companies in the bearings industry faces demand slow down, steady capacity build-up, mounting import threat and rising input costs.
With such pressures on earnings, the stock market has, predictably, been harsh to the companies. Top players such as SKF bearings, FAG bearings and NRB bearings are now trading way below their historic highs.
Even the unprecedented stock market boom of 1999-2000 failed to drive the share prices of bearings companies. Considering the slowdown in the automobile sector and the persistent threat of cheaper imports, the outlook for the bearings industry is not positive.
The bearings industry consists of bimetal bearings and antifriction bearings. The anti-friction bearings market can be further classified into two segments - boll and roller bearings. Ball bearings constitute the biggest segment (over 50 percent) in volume terms in the industry.
Ball - bearings account for the bulk of the demand in the market. Higher volumes have attracted more players to this segment.
The bearings industry is characterized by the presence of global majors, such as SKF and FAG, and companies from the unorganized sector on the other. There is other about 19 units in the organized sector, with an installed capacity of about 152 million units. The domestic production accounts for about 70 percent of the demand, the rest filled by imports.
For the bearings producers, volume is the key driver of earnings. Considering that the industry is highly capital - intensive, operating at the minimum economic volume assumes greater significance. A decline in the capacity utilization level would lead to a major negative impact on the operational parameters considering the huge initial capital outlay.
2. Future of the Industry
Bearings are an important part of automotive components. There are various types of bearings such as ball bearings, taper head bearings, cylindrical bearings, sphere bearings, needle bearings. However, in the automotive industry, only ball bearings and taper had bearings are largely used. Participants such as SKF bearings (leader in ball bearings market), MBC...
Please join StudyMode to read the full document