Reliance industries limited

BACKGROUND

Reliance industries limited initially founded by late Dhirubhai H. Ambani, which is one of the largest private sector company employing thousands of people. The company’s main interest is in energy and material value chain. Reliance industries have got one unique feature, which is backward vertical integration. Initially starting its business with fabric during late 1970’s. Reliance industries made investments in ventures such as in plastics, fiber intermediaries, polyester fibers, petroleum refining, petrochemicals and oil and gas exploration and extraction. Globally the company is the largest producer of polyester yarn and being the producer of various petrochemical products. RIL made offer of shares in 1977, that is initial public offer made. The company being biggest producer of polyester yarn and fibre in the world and enjoying leadership in their business around the world and it is among top ten producers in the products of petro-chemical.

The founder chairperson late Dhirubhai H. Ambani have been credited to bring equity sect in the country during late 1970’s and have been an icon in the country for various enterprises.

Reliance industries limited is living evidence towards his strong determination, single minded enthusiasm and remorseless obligation towards his goals.

Vision

Vision of the company is revised every time/ keeps changing, as the company’s founder late Dhirubhai H. Ambani said “Growth has no limits at Reliance. I keep revising my vision. Only when you can dream it, you can do it.” So vision of the company is consistently revised and is aimed for higher and higher goals to be achieved by the company.

Mission

Establishment of systems of learning for creation of employees with efficient knowledge in mainly cost effective approach. Employees in turn will reduce operational cost along with maintaining quality, consistency, safety and security and other policies of the company.

Objectives

Development of new knowledge, skills, approaches and required competencies equipped with schemes in order to lead quality presentation, multi-tasking roles and enhance innovative capability.

In short period of time, to train employees which are new that enables them to take responsibilities.

To make stronger the infrastructure, network of learning and system which are currently exist.

Establishment of new facilities to promote transfer of knowledge and acquisition.

To identify and fill-up the gaps in new scheme and system developed by benchmarking the leading organisation.

To encourage employees to take part in competitions throughout like participating at regional level, national level and as well as at international level.

Reliance industries have got business in various fields along with many subsidiaries and associates. We are going to focus on Reliance Petroleum Limited.

As a whole leadership style, organisational structure and culture are inter-related and affects each other very closely.

Organisational structure of the company is multi-divisional structure whereby every project undertaken by the company is managed by different groups having their own management team for each project such that within multi-divisional structure there is sub-hierarchical organisational structure for each project. Existence of teamwork among the members and as well as in some situation there exist democratic form of decision making. Top management level makes strategic decisions for welfare of the business and lower level implements the decisions made. Given below is the organisational structure of the Reliance Industries Limited.

Company structure

The company have got combined Non-executive and Executive directors, the board is composed of 14 directors including 7 independent directors.

uccess and the position attained by reliance industries, itself reflects the leadership provided by its late initiator, who kept on saying that “Growth has no limit at Reliance. I keep revising my vision. Only when you can dream it, you can do it.” The leadership is based on creation of value, especially for consumers and shareholders. The company along with its integration vertically, of their chain, from refinery to textiles, have got structure which is fully integrated and produces fabrics from crude oil. The company’s assurance to merit and its hard work to continuously increase the quality of products, processes and services contributes mainly to its management in its most important businesses. Use of technique such as TQM(Total Quality Management) has considerably benefited in getting better output, quality of the product, consistency, efficiency and effectiveness and involvement of members in the progress of the business. Manufacturing unit at Hazira(Surat-India) embarked with Six Sigma during 2001, pleased their shareholders by creation of an organizational culture of zero defects all the way through involvement of employees. Shareholders also take part in the processes of identification of project, evaluating the project and its impact on the businesses. Shareholders are more anxious regarding profitability, customer loyalty and growth in volume whereas operational management located better prominence on recycling of waste and efficiency.

very project have got team members working together to achieve the stated goals, working as team management that’s what is called team work. Members of teams are evaluated according to their capacities, awareness specifically on six sigma, creativity, quality tools and leadership are assessed. Team members are allocated with responsibilities in accord with their strengths. Members of team bring vital skills and traits such as leadership, solving of problems, pronouncement making and team guts to their work.

Belief of the company is that in order to conduct any business, has to be ethical than only it is possible to achieve success through out and it rest on core values such as integrity, respect, honesty, fairness, trustworthiness, citizenship, caring, responsibilities and purposefulness. There is mutual understanding among the team members that they all are equal and one owns interest is same as of other person.

The core of these ethics is that members of team conduct business of the company with honesty and integrity, in accord with laws and in such a manner that values of all stakeholders is created.

The culture of the company is to work together in order to accomplish the established goals. Working together as team in each project making full use of their potentiality, efficiency, knowledge, skills and their capabilities.

Teamwork for members stands for “Together Everyone Accomplishes More With Organisational Responsibilities and Knowledge”.

Bibliography

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• Reuters (2004) company Officers [www] Available from: http://www.reuters.com/finance/stocks/companyOfficers?symbol=RPET.BO&WTmodLOC=C4-Officers-5 [Accessed 08/11/2009].
• Reliance Logistics (2004) Values Mission [WWW] Available from: http://www.reliancelogistics.com/html/aboutus/values_mission.html [Accessed 16/11/2009].
• Ebscohost (2004) Ehost [WWW] Available from: http://web.ebscohost.com/ehost/pdf?vid=5&hid=12&sid=61179745-58df-48d9-bcce-8015ebc02274%40sessionmgr11 [Accessed 15/11/2009].