Pestel Analysis Of The Steel Industry Economics Essay

Pestel Analysis Of The Steel Industry Economics Essay Indian steel is doing well from many years. Steel industry is contributing near about 1.2% in the total GDP. Because of the industrial growth and other important developments happening all over the world the so rapid rise in demand of the steel is observed in this sector. The major players in the steel industry are SAIL (Steel Authority of India.) TATA STEEL and ESSAR STEEL. Indian steel mainly contributes in the finished steels, semi-finished steel, pig iron and stainless steel. Private sector plays very important role in the Indian steel industry. The private sector in the steel industry contributes approximately 2/3rd of the total market of the steel. With the growing position steel industry is supporting in the continuous growth in the economic. Asian countries are in the lead with the production of the steel, china is the top producer among the Asian countries which are contributing high a supply of the steel in the international market.419million ton of the steel is produced only in the china. In past 6 years there are many acquisitions and mergers are happening in the steel industry. May be this could be the one of the reasons behind this tremendous growth globally. After the china country, Japan, India, and South Korea. India is contributing total of the 53million ton steel in global market. The japan is producing only 9% of the steel which is contributed to the global steel market. India is also one of the major counties in the production of the steel. The east, south, and west regions are important for the steel industry in India. The rapid expansion is expected in the east region, Orissa because the availability of the superior raw material. In India because the vast availability of resources and major industry player s India is enjoying the boom in this sector which are responsible of the growth in the GDP according to the survey which is done by the DEUTSHE BANK where the analysis is done with detailed survey of 34 economies in nation. It is observed that India will enjoy the average growth of 5.5% in between the year 2006 to year 2010. The average is observed for the, where as 5.4% to the Malaysia. The opening up the economies in the global market is responsible for the high investment in the industry sector where lots of acquisitions and mergers are happening in the industry. The PESTEL ANALYSIS of the industry is divided into five parts which can be discussed as follows: P- political analysis E-economic analysis S- socio -culture analysis T-technological analysis E-environmental analysis L-legal analysis. POLITICAL ANALYSIS: Political analysis includes the factors which can influence the business. It is included the political factor which includes the policy offered by the government to the specific sector. Here for this sector government introduces the National Steel Policy. The main aim for the introduction of this policy is to fill the gap between the demand and supply of the steel. To maximize the production is also main activity is designed under this policy. To increase the production up to million ton is also the main objective of the policy. Under this policy the special incentives are designed for the steel sector. Incentives like the cut in the duty, zero duty on imports, provision of the land and other infrastructural facilities are the facilities provided for the steel sector. Under this policy the government is encourage to the use the full opportunities available in the PUBLIC AND PRIVATE PATNERSHIP (PPP). With the growing industry the government is increased the sales tax from the 15%to 20% where as 75% FDI (foreign direct investment) is allowed in the industry this scheme also provides the various concessions in the custom duties. Though there is a rise in the infrastructure facilities in the country but considering the steel industry the present condition of the infrastructure is not sufficient in the nature .because of the lack in infrastructure steel industry is facing many problems ECONOMICAL ANALYSIS: STEEL industry is concern to be a very booming industry from past decades. Opening up with the various economies the foreign direct investment is the happened in this sector the various foreign players are interested to invest in the country. Under the various economies schemes there is permission in advance licensing scheme which allows the duty free imports of raw material for exports. But, with the boom in the industry GDP is rising at very slow rate. The steel industry is also facing the problem of the subprime crisis occurs in the united states before 15 months. Because of the subprime crisis there is ill effect occurs in the automobile industry, infrastructure and other business which are related with the steel industry. There is huge gap between the demand and the supply of the steel in the society. SOCIO- CULTURE: The socio culture is one of the important aspect in the analysis of the industry it describes the impact of the particular industry on the society. Likewise the steel industry also give the encouragement to the permanent employment to the people but on the other hand it divides the area in to the rural and urban sector because the industry is only in the particular area only which leads to the particular development of that area only and not overall the development . because of the working conditions the people which are employed in the steel industry faced many health problems which are incurable in the nature and many industries are not paying the attention on the health of the employees. Any kind of the allowances are not given to the employees. Steel industry is also responsible for the development in the rural sector which leads to the rise in the standard of the living of the people. TECHNICAL: The traditional technologies are being used from many years in the industry. There is no innovation in the use of the technique in the production process. The Tata steel is developing the same technique is by which the encouragement is given to the trading of the steel. Tata and sail introduces the online trading of the steel. Only the electric furnace is being used now days in the production process but because of the fluctuations in the energy there is wastage in the raw material. The basic technologies are used in the production process are basic arc, induction furnace and electric furnace which are outdated in the nature. Sail the one of the leading steel industry India is planning to set up a plan with PASCO for using the latest technology named à ¢Ã¢â€š ¬Ã‹Å"FINEXà ¢Ã¢â€š ¬Ã¢â€ž ¢. ENVIRONMENTAL: Though the steel industry is encouraging the many sectors and the encouraging the development it is creating the unfavorable environment in the nature. The all leading industries are following the environmental acts which are declared by the governments, though it is creating very bad impact on the environment. Many industries are using the pollution control equipment and energy saving equipment but that is not sufficient in the nature. The least importance is given to the environmental aspect. But the Tata steel is encouraging the ecofriendly system, to reduce the emission the co2 gas during the production process. Tata is developing the Ultra-Low Carbon steel making where there will be reduction in the environmental loss. LEGAL: Government is introducing the various rules and regulations of this particular industry. The government is about to paying the more attention in the health policies of the employees which are working with the steel industry. Special health incentives and rules are introduced in the steel industry. Conclusion: From above discussion and surveys we come to know about how the pestel analysis is done in the industry we also come to know about the political, economic, and technical aspect are important for the development of the particular industry if these factors are not in the supporting in the favor of the industry then the industry may face some consequences. REFERENCES USED: www.wikipedia.org. www.scribd.com

Corporate Culture

Corporate culture has been said to be the toughest component of a business to change. Do you agree or disagree with this statement and why? I do believe In this statement and believe that It Is actually true. The company's culture Is something that consists of the values, norms, and the goals of the organization. When all of these things are put together, they form the culture of that company. Any company that is being unethical can obtain all of these goals. However, they must surely stand to fall in the future. Unethical behavior will always come to the light in given time.If a company selects to run In an organized, ethical way – then the company will surely not need to change their culture but to build on It and Increase positivist in It. A company that hasn't been running so smoothly and In the ethical way will have a hard time in changing its ways. When we think of culture – we think of a large term with a large meaning. For example, if the United States wanted to change something culturally, then we would have a very hard time in doing so. First because our ultra is NOT to do what someone else says to do but what we, in general, say to do.It can be the same with a business. Even though It may be easy for the company to see the rewards of changing the culture of the business, actually Implementing and following that change will be difficult. Define the five types of power according to French and Raven's theory. Provide examples of each. According to this theory, there are 5 types of power: Coercive, Reward, Legitimate, Referent, and Expert. Coercive power is something, or an action, that someone in power will take in order to make hangs go their way. Threats and punishment are common tools of coercion. Implying or threatening that someone will be fired, demoted, denied privileges, or given undesirable assignments (French and Ravens Five Forms of Power, Reward power is something that someone will do in order to â€Å"praise† an employe e; obviously only a person who has access and the ability to reward people. † Raises, promotions, desirable assignments, training opportunities, and even simple compliments (French and Raven's Five Forms of Power, n. D)†.Legitimate power is a â€Å"type of power that can be unpredictable and unstable. If you lose the title or position, legitimate power can Instantly disappear – since others were Influenced by the position, not by you. Also, your scope of power Is limited to situations that others believe you have a right to control. If the fire chief tells people to stay away from a burning building, they'll probably listen. But if he tries to make people stay away from a street fight, people may well ignore him (French and Raven's Five Forms of Power, n. . )†. Referent power â€Å"Is sometimes thought of as charisma, charm, admiration, or appeal. Referent power comes from one person Liking and respecting another, and strongly Identifying with that person In some way. Celebrities have referent power, which is why they can influence everything from what people buy to whom they elect to office. In a workplace, a person with charm often makes everyone feel good, so he or she tends to have a lot of influence (French and Raven's Five Forms of Power, n. D. )†.Lastly, expert power is† when you have knowledge and skills that enable you to understand a situation, suggest solutions, use solid Judgment, and generally outperform others, people will probably listen to you. When you subject matter expert, your ideas will have more value, and others will look to you for leadership in that area (French and Raven's Five Forms of Power, n. D. )†. Reference French and Raven's Five Forms of Power: Understanding Where Power Comes From in the Workplace. (n. D. ). Retrieved September 6, 2014, from http://www. Middleton. Com/ pages/article/Newell_56. HTML

Ethical Leadership Is Mostly About Leadership Integrity....

Introduction In the current society today, the roles that leaders play in an organisation are much more significant and are studied in greater depth. The importance of ethically managing an organization and leading the entire organization towards a similar purpose and message requires great leadership. With this, we would look further into the practice of ethical leadership; how it’s defined and attempt to provide a more comprehensive understanding of ethical leadership and it’s relation with integrity. What is Ethical Leadership? Firstly, Ethics is a philosophical term that is related to the prescription and description of moral principles that guides people’s behaviours, suggesting that there are â€Å"acceptable† and â€Å"unacceptable,† as†¦show more content†¦In other words, this matrix has help to show that as much as integrity is important to becoming an ethical leader; we should not neglect the fact that it is equally important for a person to possess those qualities of a moral manager. Both forms must apparently exist given the obvious social responsibility and power a leader naturally possess. This point would be further supported as we move deeper into this topic. Moving on, there are six key attributes that characterise an ethical leader. They are character and integrity, people oriented, ethical awareness, motivating, managing ethical accountability and encouraging and empowering (Resick, Hanges, Dickson Mitchelson 2006). This further highlights the multi dimensional aspects required of an ethical leader, rather than primarily focusing on ethical integrity. Ethical awareness is based on the moral philosophy of the consequences of decisions and actions. As Resick, Hanges, Dickson Mitchelson (2006) states, it is impossible for a leader to act ethically if he is unable to identify the ethical issue present. This could bring about detrimental effect on perceived ethical leadership, even if the leader has ethical integrity. It is also a requirement for an ethical leader to be people oriented and be aware of how their actions will impact onShow MoreRelatedEthical Leadership Is Mostly About Leadership Integrity2938 Words   |  12 PagesTopic 2: Ethical leadership is mostly about leadership integrity. Discuss. Introduction A recent study conducted in 2010 among UK and some European companies, revealed that the most prominent ethical issues to organisations includes harassment, bribery, corruption and facilitation payments, and whistle blowing (Wesley et al. 2011). Thus, it is important that ethics must indeed embark from the top. Leaders cannot escape from their responsibility to establish a moral example for their followers.Read MoreEnrons Ethics Code Of Enron1552 Words   |  7 Pagestheir life savings. This article focuses on Enron’s ethics code, Enron’s failure of top leadership, Enron’s corporate culture and Enron’s complicity. On the other hand, I will discuss the lessons I learnt from Enron case. Keywords: Enron’s ethics code, Enron’s failure of top leadership, Enron’s corporate culture, Enron’s complicity, lessons learnt from Enron case Enron’s ethics code Respect, integrity, communication and excellence are the ethics code of Enron. These four aspects have a crucialRead MoreEthical Issues Surrounding Corporate Excesses Essay1362 Words   |  6 Pagesyears have made it difficult for patients to afford their life-saving medication as well. Another company that has been pulled in front of Congress to answer for their extreme increase of a lifesaving drug and that company is Mylan. There are many ethical issues surrounding this case with CEO Heather Bresch, her salary increases went hand in hand with the increased price of the EpiPen, not to mention how she acquired the position she holds with the company. In an Article written by Edward Cox (2016)Read MoreEnron s Ethics Code Of Enron Essay943 Words   |  4 Pageslost their life savings. This article focuses on Enron’s ethics code, Enron’s failure of top leadership, Enron’s corporate culture and Enron’s complicity. On the other hand, I will discuss the lesso ns I learnt from Enron case. Keywords: Enron’s ethics code, Enron’s failure of top leadership, Enron’s corporate culture, Enron’s complicity, lessons learnt from Enron case Enron’s ethics code Respect, integrity, communication and excellence are the ethics code of Enron. These four aspects have a crucialRead MoreCharacteristics of Leader Effectiveness Essay1472 Words   |  6 PagesCharacteristics of Leader Effectiveness An effective leader is someone who is passionate about their goals and knows how to motivate, inspire, and influence others to come together and work as one to reach a common goal and conduct compelling and important changes. The realization of some kind of qualitative or quantitative result because of the actions and influences of an organizations leader is essentially how to evaluate their effectiveness. The characteristics of effectiveness, of courseRead MoreFace The Complexity Involved For Making Ethical Choices1612 Words   |  7 Pagesâ€Å"Face the complexity involved in making ethical choices.† - Linda Fischer Thornton Identify and discuss the influences (family, culture, religion, etc†¦) on your personal ethics. Analyze and discuss these influences in relation to one or more classical ethics philosophies (deontology, utilitarianism, etc†¦). Reflect and comment on the Georgetown Ethos in light of the influences on your personal ethics. Ethics act as a basis of distinguishing between right and wrong and thus, determine whatRead MoreThe Ethics Code Of Enron1586 Words   |  7 PagesEnron’s ethics code Respect, integrity, communication and excellence are the ethics code of Enron. These four aspects have a crucial impact on business ethics. â€Å"Ethics requires respect. One cannot exist without the other. Ethical success depends on understanding the profound impact that respect has on your ethics and character.† As Mark S. Putnam said in his article â€Å"Respect: The Starting Point for Good Ethics†(2003), we need to make respect our obligation and show everyone a certain degree of respectRead MoreThe Organizational Structure : Mission, Vision And Values3698 Words   |  15 PagesIntroduction (The Organizational Structure – Mission, Vision and Values) Every long term vision strategy is most likely centered on building an ethical organization. It is critical for an organization to have core set of values and principles to establish its identity. Identity is a key component of helping others to understand what it is that the employees are trying to accomplish. Developing a mission, vision and values statement is the foundation to a company’s identity and structure. TheseRead MoreMilitary Ethics1692 Words   |  7 PagesMilitary Ethics This paper will discuss the topic of military ethics using the utilitarian theory. It will also incorporate the ethical system of virtue ethics. â€Å"Military ethics is about our learning what is good and true and then having the courage to do and be what and who we ought to. For military ethics is not about his or her successes or failures; it is not about their virtues or vices. Military ethics is about our heritage and history, and it is about our responsibility to be men and womenRead MoreLeadership At Cheap 2 Buy Shop Essay2951 Words   |  12 Pages RESEARCH ON LEADERSHIP AT CHEAP 2 BUY SHOP STUDENT NAME: RAVI BABARIYA LECTURER NAME: ASIF KHAN INTRODUCTION I want to write this research on cheap 2 buy shop leadership because I am very close to it. The main purpose of this assignment is learn more about leadership of the manager of cheap 2 buy store. If I talk about research report of leadership is the way which thought I could actually know that how is managing so that I learn about their leadership style and skills. With the help

The Cask Of Amontillado By Edgar Allen Poe - 2223 Words

Edgar Allen Poe’s The Cask of Amontillado tells the story of a man who illustrates vengeance in its purest form. The short story is set in an unnamed Italian city during a time of celebration and carnival. It is told in a flashback by the narrator, Montresor, who recounts the day he took revenge on Fortunato, a man who continuously insulted him until he had enough and responded. This story is one of the most influential works in the horror genre as it possesses valuable insight into the psychological tendencies of the mind and its power to bring out the worst in human nature. Montresor becomes frustrated with the â€Å"injuries† caused by Fortunato and proceeds to commit the â€Å"perfect† crime— an undisclosed murder. Montresor’s strange and obsessive need for vengeance drives him to a point of insanity as he plans the most intricate details of his crime. In addition to this psychological analysis, biographical elements stemming from Poe’s l ife contribute to the story’s plot and themes. The idea behind the story stems from Poe’s experience at the U.S. Military Academy at West Point, as he heard rumors of a military officer who faced a similar fate to that of Fortunato’s. Although proven to be false, the rumor contributed to the idea of such a story along with other things occurring in Poe’s life, such as his rivalry with literary critic Thomas Dunn English, who made parodies of Poe’s poetry and stories. Edgar Allen Poe’s writing of this short story was influenced by a variety ofShow MoreRelatedThe Cask Of Amontillado By Edgar Allen Poe992 Words   |  4 PagesEdgar Allen Poe had many pieces of literature, but one in particular â€Å"The Cask of Amontillado† reflected his personality. It is a short story that can be read easily, and can take on many ironies. The several ironies can point to the fact that Poe himself was implanted into the story as he was a mysterious man . There are several characters with different personalities often interpreted as Poe hiding his dark side which would be â€Å"Montresor†. The other personality Fortunato could be that drunken personalityRead MoreThe Cask Of Amontillado By Edgar Allen Poe953 Words   |  4 Pagesseek revenge. â€Å"The Cask of Amontillado† is a short story by the American poet, editor and story writer Edgar Allen Poe. This story is a tale of revenge touching on the darker sides of human nature and at what lengths a man will go to achieve vengeance. We are told by our narrator Montresor that he had been insulted by a wealthy wine connoisseur named Fortunato. Montresor picks him out of the carnival and lures him into his wine cellar with promise of a renown sherry wine, Amontillado. Fortunato is baitedRead MoreThe Cask Of Amontillado By Edgar Allen Poe1052 Words   |  5 PagesEdgar Allen Poe was one of the most famed authors of death, decay, and depression in the 18th century. Poe sta rted his writing career during the Romantic literature period, a period focused on nature, emotions, and a fascination with the supernatural elements. As writers started to write in this new genre, works started becoming dark, with an eerie feeling and a tone of death. Out of the Romantic era came the sub-classification of the Gothic genre. Poe started to embrace this new genre and his writingsRead MoreThe Cask Of Amontillado By Edgar Allen Poe1204 Words   |  5 Pagesbest could, but when he ventured upon insult I vowed revenge† (Poe 1). This line draws the reader into the story by bringing up questions like, what insults could have been done to deserve such revenge? The uniqueness in the question itself is that it turns the table of a classic mystery or gothic story (Mcgarth). Instead of asking â€Å"who did it,† the question is, â€Å"why did he do it† (Baraban Motive for Murder in Cask of Amontillado ). Montresor uses Fortunato’s strengthens and tur ns them intoRead MoreThe Cask Of Amontillado By Edgar Allen Poe851 Words   |  4 Pagesabout â€Å"The Cask of Amontillado† Do hate someone, but act like they are your best friend to get something that you want from them? Edgar Allen Poe does in his story â€Å"The Cask of Amontillado† as he uses Montresor to tell Fortunato’s journey to catacombs and how he â€Å"conceives and executes an ingenious plan... for revenging† Fortunato (Gruesser 129). In â€Å"The cask of Amontillado† Poe uses tone, plot devices, and the setting to present the theme of appearances masking reality. To begin, Poe uses one toRead MoreThe Cask Of Amontillado By Edgar Allen Poe1025 Words   |  5 PagesJared Mourning English II Prof. Platt Thursday, March 3, 2016 Fortunato’s Misfortune In â€Å"The Cask of Amontillado,† Edgar Allen Poe issues a warning that even your closest friends can stab you in the back when you insult them in the right way. Poe perfectly portrays the way someone you think is your best friend could just as well be your biggest enemy. In â€Å"The Cask of Amontillado† Edgar Allen Poe uses Montresor’s point of view, plot, and symbolism to convey the cold, merciless man who is MontresorRead More`` Cask Of Amontillado `` By Edgar Allen Poe1505 Words   |  7 PagesEdgar Allen Poe was a writer who sculpted every detail to create his desired â€Å"theme†. His short stories are mostly representing the murder of a character. The murderer, who is the narrator, explains the plan for the murder. The narrator destroys the humans around him through his destructive mind. The reason for the murder is revenge and hatred. In â€Å"Cask of Amontillado† and â€Å"The Tell-Tale Heart† Poe utilized â€Å"unreliable na rrators,† he even created similarities between murder and victim to establishRead MoreThe Cask Of Amontillado By Edgar Allen Poe1492 Words   |  6 Pages McMullen 531-06 1 September 2014 Summer Reading The Cask of Amontillado In The Cask of Amontillado, by Edgar Allen Poe, Montressor is able to successfully manipulate Fortunato s arrogance and pride and use it against him as revenge. Montressor knows that Fortunato has a love for wine. Montressor tells Fortunato that he may have acquired Amontillado, a very nice wine. Montressor is not quite sure if the wine is Amontillado, but since Fotunato appears to be occupied Montressor saysRead MoreThe Cask Of Amontillado By Edgar Allen Poe1723 Words   |  7 Pages Were Montresor’s action in The Cask of Amontillado justified? Is killing someone justifiable? In Edgar Allen Poe’s short story The Cask of Amontillado that question is one that could be asked. The short story is about a man named Montresor and his quest to get revenge on his foe Fourtando who has apparently insulted Montresor. Around the time of the carnival season Montresor leaves his house to go find Fourtando and get his revenge he tells none of his servants toRead MoreThe Cask Of Amontillado, By Edgar Allen Poe884 Words   |  4 PagesIn â€Å"The Cask of Amontillado,† by Edgar Allen Poe, one finds the horror throughout its pages. The ideas of unexplained revenge and images of scenes only getting darker and colder cause one to have feelings of dread and disbelief. The protagonist, Montresor, has waited fifty years to tell his story, and one has to question the reliability of what he is saying. Questions of true justice and the power of an insult arise, only magnifying those ideas of horror. In â€Å"The Cask of Amontillado ,† one sees a