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Suzlon Energy is a leading name in the world of energy sector, company having a 14000 employee operating in the 21 countries. Company operations in the Asia, Americas, Australia and Europe. In terms of manufacturing company have manufacturing operation in three Continents. The research and development is set-up in the Denmark, Germany, India and Netherlands. Suzlon is market leader in the Asia and 3rd largest wind tower manufacturer in the whole world. The share market prices have grown 12.3% which give a new direction to the company to reach on 3rd position in the world among the energy sector.
Reason to Choose Suzlon Energy
The reason to choose Suzlon Energy is that it is the leading company in energy sector. Its policies have helped the company to become a key player in the energy sector. The philosophical and strategic are the main reasons that reflect the Suzlon’s identity. These factors are discussed in detail below:
Suzlon ethics and beliefs
As a company it contributes to the society a sustainable wind-energy on a commercial scale with focusing to increase efficiency and reliability to produce better wind energy.
Suzlon’s strategy is always focused on good relations with their customers, which ultimately results in total customer satisfaction (Suzlon, 2009). This will help Suzlon energy to maintain their market share in the energy sector and will provide it the long term sustainability.
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Furthermore, Suzlon also focused on standards related to quality, they believe in better quality by maintaining safety on work place. And they consider environmental factors for local community and whole society. The most important philosophy is to build relationship with internal and external parties, and Suzlon is focus to maintain relationship with their shareholders, their employee, suppliers and service provider, government, local community and the most useful their customer. As per the company philosophy this is imperative to maintain relation to all this parties and that’s what Suzlon does (Suzlon, 2009).
To contribute the society a healthy energy, Suzlon stand forward, they produce wind energy which is environment free and they not use any fuel to produce the energy, on that way its not west other resources in their operation.
Strategic factors of Suzlon
The main factors of the Suzlon are to offer clients range from development, in construction. The supply chain system of the manufacturing process and the strength of this chain give global identification among the customers and they provide best quality services to their customer. The Suzlon is the best to help the clients in overall wind power project delivery.
The no of industries supply chain identify the critical
The Wind Industry’s supply chain experiences the critical blockage of a long production lead time for key components such as Bearings, Gearboxes, Forging materials etc. However, Suzlon has got the critical competitive advantage such as.,
- Suzlon focused o time and cost and concentrate on better quality.
- Company provide long term support to their customer after delivery.
- They make combination in the turbine technology.
- Easiest production system and work devision.
The growth of Suzlon Energy can be classified with reference to its global integration, Company has global experience and a talent capital to run their operation in the 23 nation which gives the company to talent workforce.
It can be seen from the sources that the overall strategy of the Suzlon leads to the company towards the overall development. Apart from this the company has global reputation in the energy sector working globally, these key factor attract to choose the Suzlon to write this topic.
Who are the major stakeholders of the organization and what consideration should be made to insure their (stakeholder) participation in developing management strategy?
Introduction: in any limited organization the stakeholders play an important role, because stake holders are the key elements of any organization. There are two types of stakeholders, internal and external, both play an important role to achieve strategic goal of an organization.
An individual or group with an interest in the success of an organization in delivering intended results and maintaining the viability of the organization’s products and services. Stakeholders influence programs, products, and services. (Online)
Stakeholders of Suzlon Energy:
Suzlon stakeholders are divided in two parts, Indian stakeholders and foreign stakeholders.
Indian Stakeholders promoters groups
- Individual Hindu undivided family:- this category of share holder is the major stakeholders of the Suzlon energy which have 43% of total share of the company.
- Bodies Corporation is the second stake holders of the company 6 corporation bodies have 9.50% of share out of total share.
There is no any foreign institution or individual are involved in the company stake.
In public shareholding Mutual Fund (UTI) is the major stakeholder of the company who has 6.44% of share out of total. Financial bake institute is the second investor of the Suzlon share which is 0.63%. Some foreign institution has invested about 235783372 which are 15% of total.
Stakeholder’s participation in developing management strategy
In any organization, stakeholders play an important role. The activities of the business affected by the stakeholder, they are directly or indirectly interested in the business, and they remain in connection with business constantly. In Suzlon Energy stake holders play an important role to develop management strategy.
Company responsibility towards the stakeholders
Shareholders are the main investors of the company, they invest the money in the company for good return, so the company strategy should be relevant to make good profit and development, and if company make more profit then shareholders also gain good rewards. To give good return on the investment company should have good management strategy.
Management and employees:
management and employee the important capital of the organization, the success of the business is depend on the management and employee because they run the company effectively so there is company responsibility towards their employee to pay fare remuneration and make good working condition.
Customers and suppliers
Customer and supplier are the key stakeholders of the Suzlon Energy, company responsibility is to solve the customer problem and provide good services, apart from this they should encourage customer to increase the selling by providing fair prices and qualitative product. On other side company have to build long term relationship with their suppliers by encouraging them by introducing JIT (just in time production system).
Banks and other financial organisations
By encouraging banks and other financial organization to provide enough fund as and when required by the company on good terms but it is possible when company develop good business strategy.
By following the government rules and regulation, and taking part in various government schemes to take advantages of subsidies and relief.
For local community development Suzlon Foundation organization develop several projects for the local community development. To encourage the surrounding community company built schools and colleges for education development. Suzlon foundation also organizes some health awareness programme for the surrounding community area.
Strategy is the long term planning which direct to the organization towards the achieving the goal. In this competitive market good strategic planning help the organization to develop their resources and help to meet the market needs, finally good strategy also fulfil the expectation of the stakeholder.
According to Johnson & Scholes “Strategy is the route and scope of an organisation over the long-term, which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations”.
Strategy development to resolve an issue.
Corporate-Level Strategy of Suzlon Energy
Corporate level strategy of Suzlon Energy cover main five area which are, growth, stability, endgame, defensive, and combination strategies. Company examine the process of evaluating and choosing from the various strategic alternatives.
Generic Business Unit Strategies
The common business unit strategies is examines the important issue of how a firm rival in this business. This kind of strategies is most appropriate for business units, which is connected with cost leadership, differentiation and focus. This chapter also reviews the importance of technology in shaping competitive in and industry. In the concluding section, it is re-evaluate the progress of the strategy unit towards developing a right dynamic theory of strategy.
Deals with the strategic decisions made within each of the business functions used to complement and support the competitive advantages sought by the business – level strategy. This chapter examines functional strategies in the areas of purchasing and materials management, production/operations, marketing, finance, research and development, human resource, and information systems. Then, the ways in which these functional strategies can be integrated and analyzed. Required resources for strategic development
Ethical, social and cultural are the major responsibility of any organization towards the society, these all objective create a good impact on the organization. Suzlon Foundation leads corporate social responsibility initiatives for Suzlon group of companies. Suzlon is committed to practice sustainable development for “Powering a Greener Tomorrow”. The Foundation will ensure that business policies and practices support sustainability as its guiding principle. Suzlon Foundation is registered under Section 25 of the Companies Act.
Work culture at Suzlon
The work culture at Suzlon hinges on the three pillars of corporate values, brand core and philosophy of global assimilation.
Agility, creativity, adding value, commitment and integrity are the base values of Suzlon’s work culture. Inducting people into Suzlon’s brand core of sustainable development is a process that involves imbibing these values and blending the best qualities of the individual with those of the organization.
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Suzlon’s 14,000 employees have helped raise the performance bar in professionalism, opportunity, responsibility, belongingness and accomplishment. With our vision cast high and focus on our people, we offer a truly global exposure with more than 1000 clients worldwide and projects from The Americas to Asia, Europe to Asia Pacific.
Suzlon has leveraged the rich operational experience of the world’s finest wind power technology to industriously harness an individual towards a powerful ‘greener tomorrow’.
Social objectives of the Suzlon
At Suzlon, the Corporate Social Responsibility division ensures that all stakeholders are involved through workshops, consultations and written communications. The Foundation disseminates information, sensitizes, initiates dialogues, and solicits stakeholder involvement in evolving a culture of sustainable development within and around the Company.
There are some social objectives taken care by the Suzlon Energy is as follows
- Community welfare : for the local community development Suzlon developed many programmes like., education, healthcare programme, environment awareness and
- Provide Employment: the next social responsibility of the Suzlon is to provide employment and create more employment opportunity to cope with unemployment.
Environment culture of Suzlon
All large corporations have an impact on the resources surrounding it. In the past years environmental degradation in industrialized areas has been very evident. This is why Suzlon Foundation, has identified the environment as one of the key areas of activities.
Suzlon Energy environmental initiatives also enable them to work towards the 7th Millennium Development Goal – ‘Ensuring Environmental Sustainability’.
Transformative programme aimed to continual improvement in business practices and procedures, so that there is minimal harm to the natural, social, human, physical and financial resources around it.
Responsive programme aims to offset (even-potentially) negative impact and optimise the positive impact of business on its surroundings.
Proactive programmes aims to contribute towards addressing global development issues and sustainability by going beyond business boundaries.
How this factors affected by the current business and economical climate
- Social – how consumers, households and communities behave and their beliefs. For instance, changes in attitude towards health, or a greater number of pensioners in a population.
- Legal – the way in which legislation in society affects the business. E.g. changes in employment laws on working hours.
- Economic – how the economy affects a business in terms of taxation, government spending, general demand, interest rates, exchange rates and European and global economic factors.
- Political – how changes in government policy might affect the business e.g. a decision to subsidise building new houses in an area could be good for a local brick works.
- Technological – how the rapid pace of change in production processes and product innovation affect a business.
- Ethical – what is regarded as morally right or wrong for a business to do. For instance should it trade with countries which have a poor record on human rights.
Discuss how a timetable for strategy implementation can be determined. Include a sample timetable, to include key milestone and their timings.
Despite the experience of many organizations, it is possible to turn strategies and plans into individual actions, necessary to produce a great business performance. But it’s not easy. Many companies repeatedly fail to truly motivate their people to work with enthusiasm, all together, towards the corporate aims. Most companies and organizations know their businesses, and the strategies required for success. However many corporations – especially large ones – struggle to translate the theory into action plans that will enable the strategy to be successfully implemented and sustained. Here are some leading edge methods for effective strategic corporate implementation. These advanced principles of strategy realisation are provided by the Farsight Leadership organization, and this contribution is gratefully acknowledged.
Strategy implementation timetable
This Strategic Planner is suitable for substantial start-ups, established businesses and strategic business units within major corporations. Following is the timetable for strategy implementation.
Name of the Organization:- Suzlon Energy Ltd.
Purpose of business plan
The preparation of a written business plan is not the end-result of the planning process. The realization of that plan is the ultimate goal. However, the writing of the plan is an important intermediate stage – fail to plan can mean plan to fail. For an established business it demonstrates that careful consideration has been given to the business’s development, and for a start-up it shows that the entrepreneur has done his or her homework.
Vision and Mission
The first step is to develop a realistic Vision for the business. This should be presented as a pen picture of the business in three or more years time in terms of its likely physical appearance, size, activities etc. Answer the question: “if someone from Mars visited the business, what would they see or sense?”
The nature of a business is often expressed in terms of its Mission which indicates the purposes of the business, for example, “to design, develop, manufacture and market specific product lines for sale on the basis of certain features to meet the identified needs of specified customer groups via certain distribution channels in particular geographic areas”. A statement along these lines indicates what the business is about and is infinitely clearer than saying, for instance, “we’re in electronics” or worse still, “we are in business to make money” (assuming that the business is not a mint !). Also, some people confuse mission statements with value statements (see below) – the former should be very hard-nosed while the latter can deal with ‘softer’ issues surrounding the business.
The next element is to address the Values governing the operation of the business and its conduct or relationships with society, customers, employees etc.
The third key element is to explicitly state the business’s Objectives in terms of the results it needs/wants to achieve in the medium/long term. Aside from presumably indicating a necessity to achieve regular profits (expressed as return on shareholders’ funds), objectives should relate to the expectations and requirements of all the major stakeholders, including employees, and should reflect the underlying reasons for running the business.
Next are the Strategies – the rules and guidelines by which the mission, objectives etc. may be achieved. They can cover the business as a whole including such matters as diversification, organic growth, or acquisition plans, or they can relate to primary matters in key functional areas, for example:
How might the dissemination process be used to help an organisation gain commitment to its strategy and the implementation of this?
Grant application priorities vary in their emphasis on dissemination as a necessary part of a successful proposed scope-of-work. Often, however, the results and impact of your grant efforts rest in the effectiveness of your dissemination activities. With effective dissemination, the awareness, recognition, and possible use of your grant outcomes may be greater than expected. Sound planning can help achieve this result.
Effective dissemination process to gain organization goal
Project summery: to make effective dissemination plan the initial step is to make project summery by describing the current environment or context that provide the business movement for the research.
Dissemination goals: to achieve organization goal and to make further development in the business there should be a single long term goal like., business policy, practice and event culture.
Effective planning: every project need well planning, to meet an organization goal, it is implicate to make effective planning about the further process and make planning about the project. Research and development is also a part of planning because before making any decision about the product and his demand it is very essential to make effective planning.
Co-ordination: to reach to the organization goal the next step is to maintain co-ordination among the department as well as management because co-ordination make work easy and help to solve the problem. Co-ordination is one kind of group work, and group work has always remained effective to solve any kind of organization problem.
Destination Statement: In order to make rational decisions about organizational activity and not least set targets for those activities, an enterprise should develop a clear idea about what the organization is trying to achieve (Senge 1990, Kotter 1995). A destination statement describes, ideally in some detail, what the organization is likely to look like at an agreed future date (Olve et al 1999 and Shulver et al 2000). In many cases this exercise builds on existing plans and documents – but is rarely in practice to find a pre-existing document that offers the necessary clarity and certainty to fully serve this purpose within an organization.
Strategic Objectives: The destination statement offers a clear and shared picture of an organization at some point in the future, but it does not provide a suitable focus for management attention between now and then. What needs to be done and achieved in the medium term for the organization to “reach” its destination on time is agreed upon in the form of objectives or priorities. By representing the selected objectives on a “strategic linkage model”, the design team is encouraged to apply “systems thinking” (Senge 1990; Senge et al. 1999) to identify cause-and-effect relationships between the selected objectives i.e. what do we need to do to achieve the results we expect. This approach also helps ensure the objectives chosen are mutually supportive and represent the combined thinking of the team’s high-level perception of the business model.
Strategic Linkage Model and Perspectives: The chosen strategic objectives are spread across four zones or ‘perspectives’. The lower two perspectives contain objectives relating to the most important activities in terms of business processes, cycle time,. productive, etc. (Internal Processes) and what needs to happen for these processes to be sustained and further developed in terms of people, product and process development (Learning & Growth). The two top perspectives house objectives relating to the desired results of the activities undertaken, i.e., how we wish external stakeholders (e.g. the general public, partner agencies and organizations to perceive us (External Relations) and how this will ultimately translate into financial results and economic value (Financial).
Measures and Initiatives: Once objectives have been agreed, measures can be identified and constructed with the intention to support management’s ability to monitor the organization’s progress towards achievement of its goals (Olve et al., 1999). Initiatives are special projects with a finite start and end date and are mapped to strategic objectives to give an indication of the projects or actions needed in order to realize the objectives (Niven 2002).
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