Indian Steel Industry produces about 75 Million MT of steel per year and looking to double that output within this decade. This article has been written for Steel Tech and focuses on management challenges facing Indian Steel Industry in the area of developing and enhancing its 'Human Capital'. Part 1: Human Capital not just employees The challenges facing the steel sector for achieving its targets are many. Rainy’s law of management says that, ‘A situation or trend is likely to remain the same unless acted upon by some innovation or management initiative’. Thus if we want different results we need to do things differently. The question then arises, what needs to be done differently? All Organisational systems function based on three elements fused together as one. They are Hardware, Software and 'Humanware'. The hardware includes the land, buildings, machinery and equipment etc. The software comprises the design of technical and managem...
Knowledge with wisdom, positive attitude, and good management skill can unravel any enigma.