VOLTAS LIMITED
ELECTRICAL AND MECHANICAL DIVISION QATAR
BY: RIDHI MAZUMDAR
VISION
The Voltas story demonstrates that an ambitious goal and vision can drive both internal transformation and business growth.
Thirteen years ago, Voltas was on the verge of shutting down that is when voltas fornulated a brand new vision plan named "MEGAVOL".
Megavol — a business plan that aimed to achieve Rs100,000 million turnover with 10 per cent profitability by 2010-11. “Ourplan involved pursuing both organic and inorganic growth,” says managing director Ashok
Soni, the man who took over the wheel in 2001 and has steered the organisation to its present course.The Megavol
…show more content…
Board reviews are carried out followed by mid-course corrections. All of the above mentioned plans are followed by developing Operating Plans and cascading of Divisional Balance Scorecard, Compromising perfomance measures, targets, timeframes and strategic initiatives.
HIGHLIGHTS OF HUMAN RESOUCE PLAN
The cornerstone of the Voltas Human Resources Management philosophy is the conviction that the well-being of the company and of its people are interdependent; and that the company's most valuable assets are its people.
The Human Resource Managment Plan includes:
· Employing the most competent, on the basis of merit
· Ensuring every employee is treated with dignity and respect, and in a fair, consistent and equitable manner
· Creating a stimulating, enabling and supportive work atmosphere
· Aiding and Encouraging employees in realizing their full potential
CORPORATE STRATEGY
Based on the recommendations of the Tata Strategic Management Group (the management consultancy that's part of the Tata Group), Voltas began an internal regeneration drive. A detailed study was made on how the market would shape up, the competitors, their offerings, strategies, the market spread - in short, everything related to the Indian AC market. The recommended solution: transform Voltas from an engineering to a marketing company.
To effect that transformation, Voltas planned a 'Big Bang strategy' that spelled out ways
2.3 Implement operation plan within own area of responsibility; The operational plan that I have submitted is from my area of responsibility, this has been devised by using the organisational strategy and working out my areas on responsibility. This allows me to have an end goal and then I need to plan how to achieve it. Once this is done I can work out a step by step plan of what needs to be done and by whom. This is all added to the plan along with any other obligations that will arise like staff supervision and appraisals and monitoring. I can then arrange the plan so that it is ordered by
As an employee do you ever take the time to sit and read through your jobs handbook or contract agreements? The truth is there are a very select few that really take the time to view the information that is set to inform you of the policies and procedures that are beneficial to your job. For Instance, organizational justice ensures that not only the organization but the employees are treated fairly and protected in case of an unlikely incident. Organizational justice as defined by our text is a more complete view of fairness within organizations and a process theory of motivation extending equity theory arguments (Giblin, 2014).
8. All employees will faithfully discharge their time and energies with integrity through proper work ethics and in harmony with those within, and without, the organization.
All employees analyze their environment and strive to be recognized and rewarded for their hard work and dedication they put into the company, in a word they are seeking justice. Justice can be defined as a person receiving what they feel they are entitled to and if they do not receive what they deserve, the situation may boarder on injustice. Unfortunately in today’s society justice and appreciation are not given out to all those deserving (Pinder, 1998). Within the Equity theory there are three justice theories. The first of which is distributive justice, this touches on if the referent feels that the outputs are fair that are given to the employees. This comes into play
* Honesty and Service - All employees will be honest with each other, customers, supervisors and subordinates.
Employers are required to treat all employees equally and give equal opportunity to all employees when considering performance management criteria. The employers should not have pre-judged views or biased views when approaching excellent or poor performing employees.
It also helps each induvial to show dignity and respect not only to employees, but to each
Behaviors that are aligned with the standards set by Company X include loyalty to clients, respecting all co-workers and clients, and integrity to do what is right on a daily basis. By demonstrating these behaviors, each and every day Company X will be able to provide high quality service due to the positive actions of our associates. Any conduct that is deemed inappropriate or detrimental to Company X will be addressed on a case by case basis by the associate’s immediate
I need to ensure that I would deal patiently with difficult customers and treat them respectfully, and advice other employees to do that too to perform a timely service delivery without losing customers or our good reputation.
The company is currently implementing five short term business strategies focused on delivering results that will prompt company growth in comparison to its industry and its competitors: “(1) driving a competitive top line; (2) generating margin flow-through from improved
This process will help your organization root out bias and other cultural dysfunctions on a global level, but there are also things you can do as an individual to ensure that you are treating all employees with fairness and respect.
Because of our different personalities and experiences, we handle employees differently, and I would not try to teach one set method. I would just say that we cannot tolerate obnoxious, oppressive, abusive, tyrannical despots (assholes). Please be sure that you always treat your employees the way you want to be treated…QuikTrip employees expect and deserve intelligent, positive, considerate, factual supervision… I am more tolerant of poor operations than I am of poor treatment of employees.” Memo from Chester Cadieux, President and Chairman 8 Retail Leader of the Year Chester Cadieux and QuikTrip”, ibid.; see footnote #5 9 Lecture “ Generations in the Workforce” Chris Rumsey, Summer 2009, Coles College of Business 10 “QuikTrip Corporation and its Employee VolunteerProgram” ww.allbusiness.com/society-social/philanthropy-volunteers/6715881-1.html
expecting all staff to work to equality and diversity principles and policies and to behave at all times in non-discriminatory ways
They should not want to take advantage or abuse their employees. They should give praise to their employees when they earned it and help when the employee needs it.
In conclusion, it is evident that Human resources models, concepts and assumptions are of high value to the organisation’s success by valuing and managing is most valuable assets, the employees. If the concepts are wrongly used or