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By Ridhima Bhanot & Naveen Chandani

change the way you think about it. Mary Gilbert says ³If you don't like something change it.INTRODUCTION ‡ ‡ ‡ ‡ ‡ Why Management faces challenges ?? ³Accept the challenges so that you may feel the exhilaration of the victory ³ Management paradigms should be flexible enough to faster pace with this dynamic environment.´ To combat this a proper process must be adopted. ‡ Planning ‡ Organizing ‡ Directing ‡ Controlling . if you can't change it.

‡ "Envisioning a larger societal purpose ('a commitment beyond the market') has always been a hallmark of ITC. responsible citizenship and profitable growth. .COMPANY¶S STRATEGIES ‡ Vision Statements ‡ To set new benchmarks in standards of corporate performance and governance through the pursuit of operational and financial excellence. ‡ To be the preferred business entity contributing to national energy security and delivering high quality products and services with care for environment.

MAJOR CHALLENGES FACED ‡ ‡ ‡ ‡ ‡ ‡ Technology Diverse Workforce Multiple Stakeholders Responsiveness Rapid Changes Globalization .

. latest farming techniques became their cup of tea through technology.. is a queer thing. stored. ‡ ‡ Advances in technology have completely altered the workplace by changing the way information is created. . used & shared.TECHNOLOGY ‡ Technology. Thus TECHNOLOGY as a challenge was transformed into OPPORTUNITY. and it stabs you in the back with the other. It brings you great gifts with one hand. ITC ± ‡ Entered Rural Market ± by echoupal ‡ Removed middlemen ‡ Converted local mandi into internet kiosks ‡ Weather forecasts .

Again CHALLENGE transformed into OPPORTUNITY. 1 Car Manufacturer in India. As a result Maruti now is No. . Buyers are showing interest in µSupplier Relationship Management¶ Sellers interested in µSupply Chain Partnering¶ Maruti therefore adopted JIT strategy.RAPID CHANGES ‡ ‡ ‡ We are chameleons. CIM. AGV. ASRS MARUTI UDYOG ‡ ‡ ‡ ‡ Converted conventional manual car assembly system to fully automated assembly line. Changes in production systems like ± AIS. and we are soon wanted to the change and happy in it. and our partialities and prejudices change place with an easy and blesses facility..

‡ Managing proper plan ‡ Lead & Control Effectively ‡ Manage cultural differences Finally became successful GLOBAL organization by taking a challenge as opportunity. .GLOBALIZATION ‡ India has been able to get business because of the fact that its globalizing ‡ HYUNDAI ± ‡ Exporting Hyundai Santro to European countries and earning business from there.