Management Control Systems at Reliance Industries Limited

3379 Words Jan 8th, 2011 14 Pages
Management Control Systems at Reliance Industries Limited

Company Profile
Reliance Industries Limited (RIL) is world’s leading and India’s no: 1 Private Ltd. Company. RIL group is a highly diversified group and is in to multiproduct business like oil / gas exploration, retail of petro / consumer products and mfg. of petrochemical / refining and textile products. Also, in to infrastructure and transportation sectors. he Reliance Group, founded by Dhirubhai H. Ambani (1932-2002), is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of US$ 44 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest
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Moreover, efficiencies can further be realized as functional organizations integrate their activities vertically so that products are sold and distributed quickly and at low cost. For instance, a small business could start making the components it requires for production of its products instead of procuring it from an external organization. But not only beneficial for organization but also for employees faiths. Hence Reliance is Having Highest Operational efficiency as compared to competitors.

Management Style And Culture At Reliance Industries Limited

Reliance Industries Limited (RIL) has emerged as India's largest private-sector enterprise and carved out a distinct place for itself in global Fortune 500 companies. Reliance's business success and competitive position reflect the leadership provided by its founder, Mr. Dhirubhai Ambani who said, "Growth has no limit at Reliance. I keep revising my vision. Only when you dream it do you get it." The leadership system defined by Ambani is based on value creation towards both its customers and stakeholders. The same vision has been taken up and forwarded by his son Mr. Mukesh Ambani, current Chairman and Managing Director of RIL. Reliance believes that any business conduct can be ethical only when it rests on the nine core values of Honesty, Integrity, Respect, Fairness,…