Reliance

RELIANCE INDUSTRIES LIMITED ……..Where growth is a way of life Date: 27/6/2008 Ankit Kumar Sawai The credence Group of industries has acquired a leading subprogram in the sphere of Indian industry through the dint of its world power to develop latent demand among the public and maintaining its pre-eminent position in the financial market especially among the small investors. With the new challenges ahead, conviction needs to modify its strategy and go into diversification in rich new markets opening up while maintaining the operational efficiency and the pride of place among the Indian investors. Key Issues in the case Constituents of Success Diversification Strategy Management issues in family owned industries History of Reliance Industries 1959 Dhirubhai Ambani sets up Reliance Commercial Corporation with a numerate capital of Rs.

15000 to export spices to the West Asian market 1962 To take benefit of the heavy demand for rayon fabrics in India, Reliance branches out to craft in fabrics and yarn 1966 Manufacturing operations begin at Naroda, Ahmedabad 1977 Reliance goes public 1978 prudence shifts to the domestic market with focus on building the Vimal brand 1981-92 A series of backward integration initiatives in the fabrics to crude ve set forthable oil vertical chain 1994With a market cap in bare of Rs. 80 bn., Reliance becomes the only Indian entrant in Business Weeks listing of the 50 largest companies headquartered in developing nations Pillars of success ?A forward looking vision that defied formal wisdom ?Speed in decision making and project achievement ?Top down approach to management that helped translate the visions into concrete workable goals ?Quantification of tasks followed by saturation of resources towards attaining that goal ?A management belief that believed in caring for its employees ?Management that actively pursued innovations in operations ?Financial dexterity Reliance has always been a... If you want to get a full essay, order it on our website: Orderessay

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