Motivating Aspects of Budding Entereprenuers

MOTIVATING ASPECTS OF BUDDING
ENTEREPRENUERS
Submitted To: Submitted By:

Dr. Ranjan Upadhyaya Sonika meena(7779)
Asst.Professor Shaweta(7765)
FMS, WISDOM Preeti(7738)
STEEL TYCOON
MR. LAXMI NIWAS MITTAL

VISION
 “Always think outside the

box and increase the
opportunities that appear,
wherever they might be”
Biography
 Indian born British steel tycoon

 Born on 15th June 1950 at Sadualpur, District
Rajasthan
 The family later moved to Kolkata from
Rajasthan
 His father Mr. Mohan Lal set up a small steel
mill in Kolkata
Early Years in India
 Mr. Lakshmi Niwas Mittal belong to a poor

family’
 The extended family of 20 lived on bare
concrete floors
 Slept on rope beds
 Cooked on an open fire on the backyard in a
house of his grandfather.
• Finished his bachelor degree in
commerce and began his early career in
his father steel mill in the early 70s
• He split from his father and two younger
brothers and took the international arm
• Rest of the family kept stick with the
domestic business
History of Mittal Steel
 In 1976 Mittal moved to

Indonesia and acquired a
steel plant ISPAT INDO
 Group started spreading its
activities across the globe in
1989 when it acquired an
ailing plant in Trinidad and
Tobago which was revived
 His success has largely been
built on buying up loss
making steel mills and
quickly turning them into
profit
Mittal Steel global presents
Mittal Steel Gandrange Mittal Steel Hamburg Mittal Steel Poland Mittal Steel Ostrava Mittal Steel Galati
(France) Mittal Steel Ruhrort (Poland) (Czech Republic) Mittal Steel Iasi
Miattal Steel Hochfeld Mittal Steel Hunedoara
(Germany) Mittal Steel Roman
(Romania)
Mittal Steel Zenica

(Bosnia)
Mittal Canada
Mittal Steel Skopje
(Canada)
(Macedonia)
Ispat Inland
(USA)
Mittal Steel Lazaro Cardenas

(Mexico)
Mittal Steel Point Lisas

(Trinidad)
Americas 12Mtpa
Europe 18Mtpa
Rest of the World 12Mtpa
Mittal Steel Annaba Mittal Steel South Africa Mittal Steel Temirtau
(Algeria) (South Africa) (Kazakhstan)
Acquisitions
 1989: Acquisition of Iron & Steel Company of

Trinidad & Tobago
 1992: Acquisition of Sibalsa
 1994: Acquisition of Sidbec-Dosco
 1995: Acquisition of Hamburger Stahlwerke >
Ispat International Ltd. and Ispat Shipping
formed > Acquisition of Karmet
•1998: Acquisition of Inland Steel Company
•1999: Acquisition of Unimétal

•2001: Acquisition of ALFASID > Acquisition
of Sidex
•2002: Business assistance agreement
signed with Iscor
•2003: Acquisition of Nova Hut
•2004: Acquisition of Polski Huty Stali >
Acquisition of BH Steel > Acquisition of
Macedonian facilities from Balkan Steel >
Creation of Mittal Steel and proposed
acquisition of International Steel
Crisis faced by L.N.Mittal and
how he got victory over them
•Mittal narrated that in 1948 when he
became the head of company his company
was going under loss. All his workers and
employees left him because they said there is
no future.
• At the same time Arcleor company at that

time which was the no. one steel maker.
ArcelorMittal
 Arcelor Mittal is now the largest

steel company in the world.
 Arcelor Mittal is the leader in a
major global markets, including
automotive, construction,
household appliances &
packaging.
 The company is headquartered
in southern Luxemburg City, the
former seat of Arcelor
 Lakshmi Mittal (Co-owner of
Mittal Steel), a non-resident
Indian is a chairman and CEO.
•It employs 310,000 employees in more
than 60 countries
•Arcelor Mittal by financials for 2007 show
revenue of US $105.2 billion
•A crude steel production of 116 million
tones, representing around 10% of world
steel output
•As of 17th May 2008, the market
capitalization of Arcelor Mittal was
$144.37 billion
Current Status
 NRI steel baron

Lakshmi Mittal, owner
of the world's largest
steel company
ArcelorMittal, is the
richest Asian in Britain
for the year 2010 with
an estimated wealth of
17 billion pound.
•No. 1 high quality steel producer with
crude steel capacity with more than 70
million tones per annum
•Own steel making facilities in 16
countries spanning 4 continents
•Employs 2,24,000 people spanning 49
different nationalities
His wife Usha runs the Indonesian
business
His son Aditya and daughter
vanisha are the members of the
board of directors of Mittal
steel
Qualities and
Distinctiveness
 Outstanding vision
 Hardworking
 Convincing, motivating and guiding
 Enthusiastic
 Capacity to lead
 Bravery
Awards
 In 1996 he was awarded as a “Steelmaker of the
year” by New Steel in the USA
 In 1998 he received The “Willy Korf Steel Vision
Award”
 Mittal was awarded as an “European
Businessman of the Year in 2004” by Fortune
Magazine
 In March 2005, Forbes named him the “Third
Richest Man in the World and the richest non-
American with the wealth of $25 billion”
Member
L N Mittal is a member of
 The International Investment Council in South Africa
 The foreign Investment Council in Kazakhstan
 The International Iron & Steel Institution Executive Committee
 The World Economic Forum’s International Business Council and
 L N Mittal is on the advisory board of the kellogg School of the Management in
the USA
Business process
We stringently follow the following business process to ensure the
successful implementation of our strategy

•Benchmarking
•Closing the gap / Strategy
•Budgeting / target setting
•Operational tracking / quarterly reviews
•Continuous improvement
•Knowledge management programme
•Rewarding
Corporate Social
Responsibility
Mittal Steel believes that business should play a
major role in supporting the societies in which they
operates. In this sense of social responsibility
Mittal steels provide their kind support to:
 Kazakhstan
 South Africa
 USA
 Algeria
 India
Education
 Mittal Steel South Africa

has donated over $177
million to community
development projects
 Company’s latest project
to sponsor South Africa
National Science
Olymbiads
 Mittal Steel sponsorship
is valid at $1.5 million
Health & Safety
 Robust set of safety standards to reduce

accidents
 Mittal Steel Operates in E-Room
 As per Mittal safe business is a good business
Sponsorship
 Sponsorship & support to football, basketball &

other sports
 Sporting beneficiaries are Czech Republic,
Romania & Algeria
 Sporting link with West Indies
Community
 Main provider of electricity

 Urban development project in
Kaeaganda Mittal steel
acquired Termiratau in 1995
 Constructed modern facilities
for the Karaganda Metallurgical
Institute
 In Algeria Company gave
$100,000 aid
 $242,000 corporate
contribution in 2005
 Management & Employees
equally moved by devastation
when hurricane Katrina Inflicted
 This raised more than $500,000
for red cross
Mittal Said:
 “The steel industry has always been

fragmented. The steel industry needs to
be consolidated,” Mittal said in a
television interview on CNN.
 Steel makers across Asia are putting
defensive measures in place to prevent
being swallowed by Arcelor Mittal.
Mittal is combining with Luxembourg-based
Arcelor SA in a $38.3 billion transaction to
create a company pouring a 10th of the
world steel.
 “We are focusing on India and China,”
Mittal said on July 2007 in Bhubanewas”, “
India is a very important milestone for us
to remain the biggest company in the
global steel industry.”
Leadership Style
 A transactional leader:
Mittal is a transactional leader who
guides and motivates his followers in
the direction of established goals by
clarifying roles and task requirements.
The Leader in Mittal:
 A great individual
 A corporate leader in business
 Started the trend of mergers around
the world
 A caring family man
 A complete human being
LESSON TO LEARN
•The factory became gold which he touched .
He made gold mine his factory. He made
DIAMOND from stone with his efforts and hard
working.
•From this we learn that nothing is impossible

for us, the need is to have faith and ambition to
achieve goals and a desire to be success then no
one can stop you.
CONCLUSION
 Aimed at creating value through the steel cycle
 Improving operating capabilities

 Improving cost competitiveness
 Growth through optimal capital expenditure
 Focusing our marketing efforts
 Creating an environment that builds a high performance culture
 Be a responsible corporate citizen

“This is not about creating a giant. It's
about creating the sustainability of the
steel industry.”
Lakshmi Niwas Mittal

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MOTIVATING ASPECTS OF BUDDING

Submitted To: Submitted By:

MR. LAXMI NIWAS MITTAL

 “Always think outside the

 Indian born British steel tycoon

 Mr. Lakshmi Niwas Mittal belong to a poor

 In 1976 Mittal moved to

Mittal Steel Zenica

Mittal Steel Lazaro Cardenas

Mittal Steel Point Lisas

 1989: Acquisition of Iron & Steel Company of

•1999: Acquisition of Unimétal

• At the same time Arcleor company at that

 Arcelor Mittal is now the largest

 NRI steel baron

successful implementation of our strategy

•Closing the gap / Strategy

•Budgeting / target setting

•Operational tracking / quarterly reviews

•Knowledge management programme

 Mittal Steel South Africa

 Robust set of safety standards to reduce

 Sponsorship & support to football, basketball &

 Main provider of electricity

 “The steel industry has always been

•From this we learn that nothing is impossible

 Improving operating capabilities

 Focusing our marketing efforts

 Creating an environment that builds a high performance culture

 Be a responsible corporate citizen

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